{"id":43854,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/prospectus-debt-securities-clorox-co.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"prospectus-debt-securities-clorox-co","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/securities\/prospectus-debt-securities-clorox-co.html","title":{"rendered":"Prospectus &#8211; Debt Securities &#8211; Clorox Co."},"content":{"rendered":"<p align=\"center\">\n<div class=\"corporate-contracts-article\">\n<p align=\"center\"><strong>DEBT SECURITIES<\/strong><\/p>\n<p>This prospectus relates to the offering of debt securities of The Clorox<br \/>\nCompany. We will provide specific terms of these securities in supplements to<br \/>\nthis prospectus. You should carefully read this prospectus and the accompanying<br \/>\nprospectus supplement, together with the documents we incorporate by reference,<br \/>\nbefore you make your investment decision.<\/p>\n<p>Investing in these securities involves certain risks. See &#8220;Item 1A. Risk<br \/>\nFactors&#8221; in our most recent Annual Report on Form 10-K, which is incorporated by<br \/>\nreference into this prospectus, and &#8220;Risk Factors&#8221; in the applicable prospectus<br \/>\nsupplement, for a discussion of the factors you should carefully consider before<br \/>\npurchasing these securities.<\/p>\n<p>The Company153s common stock is traded on the New York Stock Exchange under the<br \/>\nsymbol &#8220;CLX.&#8221;<\/p>\n<p><strong>Neither the Securities and Exchange Commission nor any state<br \/>\nsecurities commission has approved or disapproved of these securities or<br \/>\ndetermined if this prospectus or any accompanying prospectus supplement is<br \/>\ntruthful or complete. Any representation to the contrary is a criminal<br \/>\noffense.<\/strong><\/p>\n<p align=\"center\">The date of this prospectus is November 14, 2011<\/p>\n<p align=\"center\">i<\/p>\n<hr>\n<\/p>\n<p align=\"center\"><strong>TABLE OF CONTENTS<\/strong><\/p>\n<table style=\"width: 100%; border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"97%\" valign=\"bottom\"><\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">Page<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>ABOUT THIS PROSPECTUS<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>THE COMPANY<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>RATIO OF EARNINGS TO FIXED CHARGES<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>USE OF PROCEEDS<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>DESCRIPTION OF DEBT SECURITIES<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>General Terms of the Debt Securities<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Denominations, Registration and Transfer<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Payment and Paying Agents<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Global Securities<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Certain Covenants<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Consolidation, Merger and Sale of Assets<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Events of Default<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Modification or Waiver<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Satisfaction and Discharge<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">10<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Defeasance<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">10<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Governing Law<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">11<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>Concerning the Trustee<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">11<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>PLAN OF DISTRIBUTION<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">11<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>LEGAL MATTERS<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">12<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>EXPERTS<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">12<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>INCORPORATION OF DOCUMENTS BY REFERENCE<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">13<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"97%\" valign=\"bottom\">\n<p>WHERE YOU CAN FIND MORE INFORMATION<\/p>\n<\/td>\n<td width=\"2%\" valign=\"bottom\">\n<p align=\"center\">13<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"center\">ii<\/p>\n<hr>\n<\/p>\n<p align=\"center\"><strong>ABOUT THIS PROSPECTUS<\/strong><\/p>\n<p>This prospectus is part of a registration statement that we filed with the<br \/>\nSecurities and Exchange Commission, or the SEC, utilizing a &#8220;shelf&#8221; registration<br \/>\nprocess. Under this shelf registration process, from time to time we may offer<br \/>\nand sell securities evidencing our senior unsecured indebtedness in one or more<br \/>\nseries up to an indeterminate aggregate principal amount. We may offer these<br \/>\ndebt securities in separate series, in amounts, at prices and on terms<br \/>\ndetermined at the time of offering.<\/p>\n<p>We will provide additional information about the debt securities in an<br \/>\naccompanying prospectus supplement. An accompanying prospectus supplement will<br \/>\nstate the principal amount, maturity, interest rate or rates, whether the<br \/>\ninterest rate or rates will be fixed or variable and\/or any method of<br \/>\ndetermining the interest rate or rates, the initial public offering price, and<br \/>\nother terms of each series of debt securities.<\/p>\n<p>We may offer and sell debt securities to or through underwriters, who may act<br \/>\nas principals or agents, directly to other purchasers or through agents to other<br \/>\npurchasers or through any combination of these methods. See &#8220;Plan of<br \/>\nDistribution.&#8221; The names of any underwriters, purchasers or agents and their<br \/>\ncompensation will be stated in an accompanying prospectus supplement.<\/p>\n<p>You should rely only on the information provided in this prospectus or<br \/>\nexplicitly made part of this document by reference and the accompanying<br \/>\nprospectus supplement. No person has been authorized by us to provide you with<br \/>\nany other information. Clorox is not making an offer of any debt securities in<br \/>\nany jurisdiction where the offer is unlawful. You should not assume that the<br \/>\ninformation in this prospectus and the accompanying prospectus supplement is<br \/>\ncorrect as of any date after the date of this prospectus and the applicable<br \/>\nprospectus supplement. Unless the context requires otherwise, the terms<br \/>\n&#8220;Clorox,&#8221; &#8220;the Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer to The Clorox Company and<br \/>\nits subsidiaries.<\/p>\n<p align=\"center\"><strong>THE COMPANY<\/strong><\/p>\n<p>The Company was founded in Oakland, California in 1913 as the<br \/>\nElectro-Alkaline Company. It was reincorporated as Clorox Chemical Corporation<br \/>\nin 1922, as Clorox Chemical Co. in 1928 and as The Clorox Company (an Ohio<br \/>\ncorporation) in 1957, when the business was acquired by Procter &amp; Gamble<br \/>\n(P&amp;G). The Company was fully divested by P&amp;G in 1969 and, as an<br \/>\nindependent Company, reincorporated in 1973 in California as The Clorox Company.<br \/>\nIn 1986, the Company reincorporated in Delaware.<\/p>\n<p>Our executive offices are located at 1221 Broadway, Oakland, California<br \/>\n94612-1888. Our telephone number is (510) 271-7000.<\/p>\n<p align=\"center\"><strong>RATIO OF EARNINGS TO FIXED CHARGES<\/strong><\/p>\n<p>The following table sets forth Clorox153s ratio of earnings to fixed charges<br \/>\nfor the periods indicated:<\/p>\n<table style=\"width: 100%; border-collapse: collapse;\" width=\"100%\" cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"72%\" valign=\"bottom\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td colspan=\"3\" width=\"7%\" valign=\"bottom\">\n<p align=\"center\"><strong>Three months ended <br \/>\nSeptember 30,<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td colspan=\"9\" width=\"19%\" valign=\"bottom\">\n<p align=\"center\"><strong>Year ended June 30,<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"72%\" valign=\"bottom\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2011<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2010<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2011<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2010<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2009<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2008<\/strong><\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\"><strong>2007<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"72%\" valign=\"bottom\">\n<p>Ratio of earnings to fixed charges<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">8<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">7<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">5<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">7<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">5<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">4<\/p>\n<\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"3%\" valign=\"bottom\">\n<p align=\"center\">6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"72%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<td width=\"1%\"><\/td>\n<td width=\"3%\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>For purposes of computing the ratio of earnings to fixed charges, earnings<br \/>\nrepresent earnings from continuing operations before income taxes and earnings<br \/>\nfrom equity investees, amortization of capitalized interest, distributed income<br \/>\nfrom equity investees, and fixed charges. Fixed charges represent interest<br \/>\nexpense and the portion of rents representative of an interest factor.<\/p>\n<p align=\"center\">1<\/p>\n<hr>\n<\/p>\n<p align=\"center\"><strong>USE OF PROCEEDS<\/strong><\/p>\n<p>Our intended use of the net proceeds from the sales of securities will be set<br \/>\nforth in an accompanying prospectus supplement.<\/p>\n<p align=\"center\"><strong>DESCRIPTION OF DEBT SECURITIES <\/strong><\/p>\n<p><strong>General Terms of the Debt Securities <\/strong><\/p>\n<p>We may issue senior debt securities from time to time in one or more distinct<br \/>\nseries. The securities will be issued under an indenture dated as of October 9,<br \/>\n2007, as supplemented by the First Supplemental Indenture dated as of November<br \/>\n9, 2009 between us and Wells Fargo Bank, National Association, as trustee and<br \/>\nthe Second Supplemental Indenture dated as of November 9, 2009 between us and<br \/>\nWells Fargo Bank, National Association, as trustee (as supplemented, the<br \/>\n&#8220;Indenture&#8221;). We will include in a supplement to this prospectus the specific<br \/>\nterms of each series of debt securities being offered. The statements and<br \/>\ndescriptions in this prospectus or in an accompanying prospectus supplement<br \/>\nregarding provisions of the indenture and debt securities are summaries of these<br \/>\nprovisions, do not purport to be complete and are subject to, and are qualified<br \/>\nin their entirety by reference to, all of the provisions of the debt securities<br \/>\nand the indenture (including any amendments or supplements we may enter into<br \/>\nfrom time to time that are permitted under the indenture).<\/p>\n<p>Unless otherwise specified in an accompanying prospectus supplement, the debt<br \/>\nsecurities will be our direct unsecured senior obligations and will not be<br \/>\nguaranteed by any of our subsidiaries. The senior debt securities will rank<br \/>\nequally with any of our other senior and unsubordinated debt and will be<br \/>\neffectively subordinated to any indebtedness and other liabilities of our<br \/>\nsubsidiaries.<\/p>\n<p>Unless otherwise specified in a prospectus supplement, the term &#8220;Company&#8221;<br \/>\nunder this caption &#8220;General Terms of the Debt Securities&#8221; refers only to The<br \/>\nClorox Company and not to any of our subsidiaries.<\/p>\n<p>The applicable prospectus supplement will set forth the terms of each series<br \/>\nof debt securities, including, if applicable:<\/p>\n<ul>\n<li>the title of the debt securities;<\/li>\n<li>any limit upon the aggregate principal amount of the debt securities;<\/li>\n<li>the date or dates on which the principal amount of the debt securities is<br \/>\npayable;<\/li>\n<li>the rate or rates of interest, if any, at which the debt securities bear<br \/>\ninterest and the date or dates from which interest will accrue;<\/li>\n<li>if the debt securities bear interest, the dates on which interest will be<br \/>\npayable and the regular record dates for interest payments;<\/li>\n<li>the place or places where the payment of principal, any premium and any<br \/>\ninterest will be made, if other than or in addition to the Borough of Manhattan,<br \/>\nThe City of New York, where the debt securities may be surrendered for transfer<br \/>\nor exchange and where notices or demands to or upon us may be served;<\/li>\n<li>any optional redemption provisions, which would allow us to redeem the debt<br \/>\nsecurities in whole or in part;<\/li>\n<li>any sinking fund or other provisions that would obligate us to redeem, repay<br \/>\nor purchase the debt securities;<\/li>\n<li>if the currency in which the debt securities will be issuable is United<br \/>\nStates dollars, the denominations in which any registered securities will be<br \/>\nissuable, if other than denominations of $2,000 and integral multiples of $1,000<br \/>\nthereof;<\/li>\n<li>if other than United States dollars, the currency in which the debt<br \/>\nsecurities will be paid or denominated;<\/li>\n<li>if other than the entire principal amount, the portion of the principal<br \/>\namount of debt securities which will be payable upon a declaration of<br \/>\nacceleration of the maturity of the debt securities;<\/li>\n<\/ul>\n<p align=\"center\">2<\/p>\n<hr>\n<\/p>\n<ul>\n<li>the inapplicability of any event of default or covenant set forth in the<br \/>\nindenture relating to the debt securities, or the applicability of any other<br \/>\nevents of default or covenants in addition to the events of default or covenants<br \/>\nset forth in the indenture relating to the debt securities;<\/li>\n<li>if a person other than Wells Fargo Bank, National Association is to act as<br \/>\ntrustee for the debt securities, the name and location of the corporate trust<br \/>\noffice of that trustee;<\/li>\n<li>if other than as set forth in the indenture, provisions for the satisfaction<br \/>\nand discharge of the indenture with respect to the debt securities issued under<br \/>\nthe indenture;<\/li>\n<li>the date as of which any global security will be dated if other than the<br \/>\ndate of original issuance of the first debt security of a particular series to<br \/>\nbe issued;<\/li>\n<li>whether the debt securities will be issued in whole or in part in the form<br \/>\nof a global security or securities and, in that case, any depositary and global<br \/>\nexchange agent for the global security or securities, whether the global form<br \/>\nshall be permanent or temporary and, if applicable, the exchange date;<\/li>\n<li>if debt securities are to be issuable initially in the form of a temporary<br \/>\nglobal security, the circumstances under which the temporary global security can<br \/>\nbe exchanged for definitive debt securities and whether the definitive debt<br \/>\nsecurities will be registered securities or will be in global form and<br \/>\nprovisions relating to the payment of interest in respect of any portion of a<br \/>\nglobal security payable in respect of an interest payment date prior to the<br \/>\nexchange date; and<\/li>\n<li>any other terms of the debt securities, which terms shall not be<br \/>\ninconsistent with the requirements of the Trust Indenture Act of 1939, as<br \/>\namended.<\/li>\n<\/ul>\n<p>This prospectus is part of a registration statement that does not limit the<br \/>\naggregate principal amount of debt securities that we may issue and provides<br \/>\nthat we may issue debt securities from time to time in one or more series.<br \/>\nUnless indicated in a prospectus supplement, we may issue additional debt<br \/>\nsecurities of a particular series without the consent of the holders of the debt<br \/>\nsecurities of such series outstanding at the time of the issuance, provided,<br \/>\nhowever, that for United States federal income tax purposes, such additional<br \/>\ndebt securities are issued in a &#8220;qualified reopening&#8221; within the meaning of the<br \/>\nInternal Revenue Code of 1986, as amended. Any such additional debt securities,<br \/>\ntogether with all other outstanding debt securities of that series, will<br \/>\nconstitute a single series of debt securities under the indenture.<\/p>\n<p><strong>Denominations, Registration and Transfer <\/strong><\/p>\n<p>We will issue debt securities as registered securities (without coupons)<br \/>\neither in certificated form or in the form of one or more global securities. We<br \/>\nwill issue book-entry debt securities as registered global securities. Each<br \/>\nglobal security will be issued in the denomination of the aggregate principal<br \/>\namount of the securities that it represents. Unless otherwise stated in the<br \/>\napplicable prospectus, we will issue the debt securities in denominations of<br \/>\n$2,000 or integral multiples of $1,000 in excess thereof.<\/p>\n<p>A holder may exchange certificated debt securities for other debt securities<br \/>\nof any authorized denominations of a like stated maturity and of a like series<br \/>\nand aggregate principal amount and with like terms and conditions. Whenever any<br \/>\nsuch debt securities are surrendered for exchange, we will execute, and the<br \/>\ntrustee will authenticate and deliver, the debt securities that the holder<br \/>\nmaking the exchange is entitled to receive.<\/p>\n<p>A holder may present debt securities in certificated form for registration of<br \/>\ntransfer (with the form of transfer printed on the security duly executed) at<br \/>\nthe office of the security registrar that we designate for such purpose. Unless<br \/>\nwe state otherwise in the applicable prospectus supplement, the security<br \/>\nregistrar will be the trustee we appointed under the indenture for the<br \/>\napplicable debt securities. There will be no service charge to register the<br \/>\ntransfer, but the holder is responsible for paying any taxes and other<br \/>\ngovernmental charges. Any transfer or exchange is subject to the security<br \/>\nregistrar being satisfied with the documents of title and identity of the person<br \/>\nmaking the request.<\/p>\n<p>For a discussion of restrictions on the exchange, registration and transfer<br \/>\nof global securities, see the section below entitled &#8220;: Global Securities.&#8221;<\/p>\n<p align=\"center\">3<\/p>\n<hr>\n<\/p>\n<p><strong>Payment and Paying Agents<\/strong><\/p>\n<p>Unless otherwise indicated in an applicable prospectus supplement, we will<br \/>\npay the principal of, and premium, if any, and interest, if any, on debt<br \/>\nsecurities to a paying agent, whom we will designate from time to time. However,<br \/>\nat our option we may pay any interest (1) by check mailed to you at your address<br \/>\nappearing in the security register or (2) by wire transfer to an account<br \/>\nmaintained by you. Unless otherwise stated in the applicable prospectus<br \/>\nsupplement, we will pay interest to you on the applicable payment date if the<br \/>\ndebt security is registered in your name at the close of business on the regular<br \/>\nrecord date for that interest payment.<\/p>\n<p>Unless otherwise indicated in an applicable prospectus supplement, the<br \/>\ntrustee will act as our sole paying agent through its designated office. We may<br \/>\nat any time designate additional paying agents or rescind the designation of any<br \/>\npaying agent or approve a change in the office through which any paying agent<br \/>\nacts, except that we will be required to maintain a paying agent in each place<br \/>\nof payment for each series. We may also choose to act as our own paying agent.<br \/>\nIf, after two years, moneys that we paid to a paying agent remain unclaimed, the<br \/>\npaying agent will remit the moneys to us, together with any interest, and you<br \/>\nmay look only to us for payment (or to the applicable state if we are required<br \/>\nto escheat the moneys).<\/p>\n<p><strong>Global Securities <\/strong><\/p>\n<p>We will deposit any global securities with a depositary or its nominee<br \/>\nidentified in the applicable prospectus supplement. While the applicable<br \/>\nprospectus supplement will describe the specific terms of the depositary<br \/>\narrangement, we expect the following general provisions to apply to our<br \/>\ndepositary arrangements:<\/p>\n<p>Global securities will be registered in the name of the depositary or its<br \/>\nnominee. Upon the issuance of a global security, the depositary or nominee will<br \/>\ncredit, on its book-entry registration and transfer system, the principal<br \/>\namounts of the debt securities represented by the global security to the<br \/>\naccounts of institutions that have accounts with the depositary or nominee. If<br \/>\nwe are offering and selling the debt securities directly, we will designate the<br \/>\naccounts to be credited; otherwise, our underwriter or agent will do so.<br \/>\nOwnership of beneficial interests in a global security will be limited to<br \/>\nparticipating institutions or their clients. The depositary or its nominee will<br \/>\nkeep records of the ownership and transfer of beneficial interests in a global<br \/>\nsecurity by participating institutions. Participating institutions will keep<br \/>\nrecords of the ownership and transfer of beneficial interests by their clients.<br \/>\nThe laws of some jurisdictions may require that purchasers of securities receive<br \/>\nthem in certificated form. This would limit the ability to transfer beneficial<br \/>\ninterests in a global security.<\/p>\n<p>So long as the depositary or its nominee is the registered owner of a global<br \/>\nsecurity, it will be considered the sole owner or holder of the debt securities<br \/>\nrepresented by the global security for all purposes under the indenture. Except<br \/>\nas set forth below, owners of beneficial interests in the global securities will<br \/>\nnot be entitled to have debt securities represented by the global security<br \/>\nregistered in their names, will not receive or be entitled to receive debt<br \/>\nsecurities in certificated form and will not be considered the owners or holders<br \/>\nthereof under the indenture. Accordingly, if a holder owns a beneficial interest<br \/>\nin a global security, the holder must rely on the depositary and, if applicable,<br \/>\nthe participating institution of which that holder is a client to exercise the<br \/>\nrights of that holder under the indenture.<\/p>\n<p>The depositary may grant proxies and otherwise authorize participating<br \/>\ninstitutions to take any action that a holder is entitled to take under the<br \/>\nindenture. We understand that, according to existing industry practices, if we<br \/>\nrequest any action of holders, or any owner of a beneficial interest in a global<br \/>\nsecurity wishes to give any notice or take any action, the depositary would<br \/>\nauthorize the participating institutions to give the notice or take the action,<br \/>\nand the participating institutions would in turn authorize their clients to give<br \/>\nthe notice or take the action.<\/p>\n<p>Generally, we will make payments on debt securities represented by a global<br \/>\nsecurity directly to the depositary or its nominee. It is our understanding that<br \/>\nthe depositary will then credit the accounts of participating institutions,<br \/>\nwhich will then distribute funds to their clients. We also expect that payments<br \/>\nby participating institutions to their clients will be governed by standing<br \/>\ninstructions and customary practices, as is now the case with securities held<br \/>\nfor the accounts of clients registered in &#8220;street names,&#8221; and will be the<br \/>\nresponsibility of the participating institutions. Neither we nor the trustees,<br \/>\nnor our respective agents, will have<\/p>\n<p align=\"center\">4<\/p>\n<hr>\n<\/p>\n<p>any responsibility, or bear any liability, for any aspects of the records<br \/>\nrelating to or payments made on account of beneficial interests in a global<br \/>\nsecurity, or for maintaining, supervising or reviewing records relating to<br \/>\nbeneficial interests.<\/p>\n<p>Generally, a global security may be exchanged for certificated debt<br \/>\nsecurities only in the following instances:<\/p>\n<ul>\n<li>the depositary notifies us that it is unwilling or unable to continue as<br \/>\ndepositary, or it ceases to be a registered clearing agency, and thereafter a<br \/>\nsuccessor is not appointed within 90 days;<\/li>\n<li>we determine in our sole discretion that the securities of any series issued<br \/>\nin the form of one or more global securities are no longer to be represented by<br \/>\nsuch global securities or we permit global securities to be exchangeable; or\n<\/li>\n<li>an event of default under the indenture has occurred and is continuing with<br \/>\nrespect to the series of securities.<\/li>\n<\/ul>\n<p><strong>Certain Covenants <\/strong><\/p>\n<p>Unless otherwise indicated in the applicable prospectus supplement, our debt<br \/>\nsecurities will have the benefit of the following covenants contained in the<br \/>\nindenture:<\/p>\n<p><strong><em>Limitations on Secured Debt<\/em><\/strong><\/p>\n<p>The Company will not itself, and will not permit any Restricted Subsidiary<br \/>\n(defined below) to, incur, issue, assume or guarantee any debt securities,<br \/>\nbonds, debentures or other similar evidences of indebtedness for money borrowed<br \/>\n(herein called &#8220;debt&#8221;), secured by a pledge of, or mortgage or other lien on,<br \/>\nany Principal Property (defined below), now owned or hereafter owned by the<br \/>\nCompany or any Restricted Subsidiary, or any shares of Capital Stock (defined<br \/>\nbelow) or debt of any Restricted Subsidiary (herein called &#8220;liens&#8221;), without<br \/>\neffectively providing that the outstanding debt securities (together with, if<br \/>\nthe Company shall so determine, any other debt of the Company or such Restricted<br \/>\nSubsidiary then existing or thereafter created which is not subordinate to the<br \/>\ndebt securities) shall be secured equally and ratably with (or prior to) such<br \/>\nsecured debt so long as such secured debt shall be so secured. The foregoing<br \/>\nrestrictions do not apply, however, to (a) liens on any Principal Property<br \/>\nacquired (whether by merger, consolidation, purchase, lease or otherwise),<br \/>\nconstructed or improved by the Company or any Restricted Subsidiary after the<br \/>\ndate of the indenture which are created or assumed prior to, contemporaneously<br \/>\nwith, or within 360 days after, such acquisition, construction or improvement,<br \/>\nto secure or provide for the payment of all or any part of the cost of such<br \/>\nacquisition, construction or improvement (including related expenditures<br \/>\ncapitalized for Federal income tax purposes in connection therewith) incurred<br \/>\nafter the date of the indenture; (b) liens on any property, shares of Capital<br \/>\nStock or debt existing at the time of acquisition thereof, whether by merger,<br \/>\nconsolidation, purchase, lease or otherwise (including liens on property, shares<br \/>\nof capital stock or indebtedness of a Person (defined below) existing at the<br \/>\ntime such Person becomes a Restricted Subsidiary); (c) liens in favor of, or<br \/>\nwhich secure debt owing to, the Company or any Restricted Subsidiary; (d) liens<br \/>\nin favor of the United States of America or any state thereof, or any<br \/>\ndepartment, agency, or instrumentality or political subdivision thereof, or<br \/>\npolitical entity affiliated therewith, or in favor of any other country, or any<br \/>\npolitical subdivision thereof, to secure progress, advance or other payments, or<br \/>\nother obligations, pursuant to any contract or statute, or to secure any debt<br \/>\nincurred for the purpose of financing all or any part of the cost of acquiring,<br \/>\nconstructing or improving the property subject to such liens (including liens<br \/>\nincurred in connection with pollution control, industrial revenue or similar<br \/>\nfinancings); (e) liens imposed by law, such as mechanics153, workmen153s,<br \/>\nrepairmen153s, materialmen153s, carriers153, warehousemen153s, vendors153 or other similar<br \/>\nliens arising in the ordinary course of business, or governmental (Federal,<br \/>\nstate or municipal) liens arising out of contracts for the sale of products or<br \/>\nservices by the Company or any Restricted Subsidiary, or deposits or pledges to<br \/>\nobtain the release of any of the foregoing; (f) pledges or deposits under<br \/>\nworkmen153s compensation, unemployment insurance, or similar legislation and liens<br \/>\nof judgments thereunder which are not currently dischargeable, or good faith<br \/>\ndeposits in connection with bids, tenders, contracts (other than for the payment<br \/>\nof money) or leases to which the Company or any Restricted Subsidiary is a<br \/>\nparty, or deposits to secure public or statutory obligations of the Company or<br \/>\nany Restricted Subsidiary, or deposits in connection with obtaining or<br \/>\nmaintaining self-insurance or to obtain the benefits of any law, regulation or<br \/>\narrangement pertaining to workmen153s compensation, unemployment insurance, old<br \/>\nage pensions, social security or similar matters, or deposits of cash or<br \/>\nobligations of the United States of America to<\/p>\n<p align=\"center\">5<\/p>\n<hr>\n<\/p>\n<p>secure surety, appeal or customs bonds to which the Company or any Restricted<br \/>\nSubsidiary is a party, or deposits in litigation or other proceedings such as,<br \/>\nbut not limited to, interpleader proceedings; (g) liens created by or resulting<br \/>\nfrom any litigation or other proceeding which is being contested in good faith<br \/>\nby appropriate proceedings, including liens arising out of judgments or awards<br \/>\nagainst the Company or any Restricted Subsidiary with respect to which the<br \/>\nCompany or such Restricted Subsidiary is in good faith prosecuting an appeal or<br \/>\nproceedings for review or liens incurred by the Company or any Restricted<br \/>\nSubsidiary for the purpose of obtaining a stay or discharge in the course of any<br \/>\nlitigation or other proceeding to which the Company or such Restricted<br \/>\nSubsidiary is a party; (h) liens for taxes or assessments or governmental<br \/>\ncharges or levies not yet due or delinquent, or which can thereafter be paid<br \/>\nwithout penalty, or which are being contested in good faith by appropriate<br \/>\nproceedings; (i) liens consisting of easements, rights-of-way, zoning<br \/>\nrestrictions, restrictions on the use of real property, and defects and<br \/>\nirregularities in the title thereto, landlords153 liens and other similar liens<br \/>\nand encumbrances none of which interfere materially with the use of the property<br \/>\ncovered thereby in the ordinary course of the business of the Company or such<br \/>\nRestricted Subsidiary and which do not, in the opinion of the Company,<br \/>\nmaterially detract from the value of such properties; (j) liens existing on the<br \/>\nfirst date on which such series of senior debt securities are issued; (k) liens<br \/>\non cash and cash equivalents securing derivatives obligations; <em>provided<br \/>\nthat<\/em> the aggregate amount of cash and cash equivalents subject to such<br \/>\nliens may at no time exceed $100,000,000; (l) liens arising solely by virtue of<br \/>\nany statutory or common law provision relating to banker153s liens, rights of<br \/>\nsetoff or similar rights and remedies as to deposit accounts or other funds<br \/>\nmaintained with a creditor depository institution; <em>provided that<\/em> (i)<br \/>\nsuch deposit account is not a dedicated cash collateral account and is not<br \/>\nsubject to restrictions against access by the Company in excess of those set<br \/>\nforth by regulations promulgated by the Federal Reserve Board, and (ii) such<br \/>\ndeposit account is not intended to provide collateral to the depository<br \/>\ninstitution; or (m) any extension, renewal or replacement (or successive<br \/>\nextensions, renewals or replacements) as a whole or in part, of any lien<br \/>\nreferred to in the foregoing clauses (a) to (l), inclusive; <em>provided<br \/>\nthat<\/em> (1) such extension, renewal or replacement lien shall be limited to<br \/>\nall or a part of the same property, shares of stock or debt that secured the<br \/>\nlien extended, renewed or replaced (plus improvements on such property) and (2)<br \/>\nthe debt secured by such lien at such time is not increased.<\/p>\n<p>Notwithstanding the restrictions described above, the Company or any<br \/>\nRestricted Subsidiary may incur, issue, assume or guarantee debt secured by<br \/>\nliens without equally and ratably securing the outstanding debt securities<br \/>\nissued under the indenture, <em>provided that <\/em>at the time of such<br \/>\nincurrence, issuance, assumption or guarantee, after giving effect thereto and<br \/>\nto the retirement of any debt which is concurrently being retired, the aggregate<br \/>\namount of all outstanding debt secured by liens which could not have been<br \/>\nincurred, issued, assumed or guaranteed by the Company or a Restricted<br \/>\nSubsidiary without equally and ratably securing the outstanding debt securities<br \/>\nexcept for the provisions of this paragraph, together with the aggregate amount<br \/>\nof Attributable Debt (defined below) incurred pursuant to the second paragraph<br \/>\nunder the caption &#8220;:Limitations on Sale and Leaseback Transactions&#8221; below, does<br \/>\nnot at such time exceed the greater of (i) $300 million or (ii) 15% of the<br \/>\nConsolidated Net Tangible Assets of the Company.<\/p>\n<p>Notwithstanding the foregoing, any lien securing outstanding senior debt<br \/>\nsecurities granted pursuant to this covenant shall be automatically and<br \/>\nunconditionally released and discharged upon the release by all holders of the<br \/>\ndebt secured by the lien giving rise to the requirement to provide a lien<br \/>\nsecuring the outstanding senior debt securities (including any deemed release<br \/>\nupon payment in full of all obligations under such debt) or, with respect to any<br \/>\nparticular Principal Property or Capital Stock of any particular Restricted<br \/>\nSubsidiary securing outstanding senior debt securities, upon any sale, exchange<br \/>\nor transfer to any person not an affiliate of the Company of such Principal<br \/>\nProperty or Capital Stock.<\/p>\n<p><strong><em>Limitations on Sale and Leaseback Transactions<\/em><\/strong><\/p>\n<p>Sale and leaseback transactions by the Company or any Restricted Subsidiary<br \/>\ninvolving a Principal Property are prohibited unless either (a) the Company or<br \/>\nsuch Restricted Subsidiary would be entitled, without equally and ratably<br \/>\nsecuring the outstanding senior debt securities, to incur debt secured by a lien<br \/>\non such property, pursuant to the provisions described in clauses (a) through<br \/>\n(m) above under &#8220;: Limitations on Secured Debt&#8221;; or (b) the Company, within 360<br \/>\ndays after such transaction, applies an amount not less than the net proceeds of<br \/>\nthe sale of the Principal Property leased pursuant to such arrangement to (x)<br \/>\nthe retirement of its Funded Debt (defined below); <em>provided that <\/em>the<br \/>\namount to be applied to the retirement of Funded Debt of the Company shall be<br \/>\nreduced by (1) the principal amount of any outstanding senior debt securities<br \/>\ndelivered within 360 days after such sale to the Trustee<\/p>\n<p align=\"center\">6<\/p>\n<hr>\n<\/p>\n<p>for retirement and cancellation, and (2) the principal amount of Funded Debt,<br \/>\nother than outstanding senior debt securities, voluntarily retired by the<br \/>\nCompany within 360 days after such sale or (y) the purchase, construction or<br \/>\ndevelopment of other property, facilities or equipment used or useful in the<br \/>\nCompany153s or its Restricted Subsidiaries153 business. Notwithstanding the<br \/>\nforegoing, no retirement referred to in clause (b) of this paragraph may be<br \/>\neffected by payment at maturity or pursuant to any mandatory sinking fund<br \/>\npayment or mandatory prepayment provision. This restriction will not apply to a<br \/>\nsale and leaseback transaction between the Company and a Restricted Subsidiary<br \/>\nor between Restricted Subsidiaries or involving the taking back of a lease for a<br \/>\nperiod of less than three years.<\/p>\n<p>Notwithstanding the restrictions described above, the Company or any<br \/>\nRestricted Subsidiary may enter into a sale and leaseback transaction,<br \/>\n<em>provided that<\/em> at the time of such transaction, after giving effect<br \/>\nthereto and to the retirement of any Funded Debt which is concurrently being<br \/>\nretired, the aggregate amount of all Attributable Debt (defined below) in<br \/>\nrespect of sale and leaseback transactions existing at such time (other than<br \/>\nsale and leaseback transactions permitted as described in the preceding<br \/>\nparagraph), together with the aggregate amount of all outstanding debt incurred<br \/>\npursuant to the second paragraph under the caption &#8220;: Limitations on Secured<br \/>\nDebt&#8221; above, does not at such time exceed the greater of (i) $300 million or<br \/>\n(ii) 15% of the Consolidated Net Tangible Assets of the Company.<\/p>\n<p><strong><em>Certain Definitions<\/em><\/strong><\/p>\n<p>The capitalized terms used in the summary of the covenants above have the<br \/>\nfollowing definitions:<\/p>\n<p><em>&#8220;Attributable Debt&#8221; <\/em>in respect of any sale and leaseback transaction<br \/>\nmeans, at the date of determination, the present value (discounted at the rate<br \/>\nof interest implicit in the terms of the lease) of the obligation of the lessee<br \/>\nfor net rental payments during the remaining term of the lease (including any<br \/>\nperiod for which such lease has been extended or may, at the option of the<br \/>\nlessor, be extended). &#8220;Net rental payments&#8221; under any lease for any period means<br \/>\nthe sum of the rental and other payments required to be paid in such period by<br \/>\nthe lessee thereunder, excluding any amounts required to be paid by such lessee<br \/>\n(whether or not designated as rental or additional rental payments) on account<br \/>\nof maintenance and repairs, insurance, taxes, assessments, water rates or<br \/>\nsimilar charges required to be paid by such lessee thereunder or any amounts<br \/>\nrequired to be paid by such lessee thereunder contingent upon the amount of<br \/>\nsales, maintenance and repairs, insurance, taxes, assessments, water rates or<br \/>\nsimilar charges.<\/p>\n<p><em>&#8220;Capital Stock&#8221; <\/em>of any Person means any and all shares, interests,<br \/>\nrights to purchase, warrants, options, participations or other equivalents of or<br \/>\ninterests in (however designated) equity of such Person, including any preferred<br \/>\nstock and limited liability or partnership interests (whether general or<br \/>\nlimited), but excluding any debt securities convertible into such equity.<\/p>\n<p><em>&#8220;Consolidated Net Tangible Assets&#8221; <\/em>means, at the date of<br \/>\ndetermination, the aggregate amount of assets (less applicable reserves and<br \/>\nother properly deductible items) after deducting therefrom (a) all current<br \/>\nliabilities (excluding any indebtedness for money borrowed having a maturity of<br \/>\nless than 12 months from the date of the then most recent consolidated balance<br \/>\nsheet of the Company publicly available but which by its terms is renewable or<br \/>\nextendible beyond 12 months from such date at the option of the borrower) and<br \/>\n(b) all goodwill, trade names, patents, unamortized debt discount and expense<br \/>\nand any other like intangibles, all as set forth on the then most recent<br \/>\nconsolidated balance sheet of the Company publicly available and computed in<br \/>\naccordance with generally accepted accounting principles.<\/p>\n<p><em>&#8220;Funded Debt&#8221; <\/em>means debt which by its terms matures at or is<br \/>\nextendible or renewable at the option of the obligor to a date more than 12<br \/>\nmonths after the date of the creation of such debt.<\/p>\n<p>&#8220;<em>Person<\/em>&#8221; means any individual, corporation, partnership, joint<br \/>\nventure, association, joint stock company, trust, unincorporated organization,<br \/>\nlimited liability company, government or any agency or political subdivision<br \/>\nthereof or any other entity, and includes a &#8220;person&#8221; as used in Section 13(d)(3)<br \/>\nof the Exchange Act.<\/p>\n<p><em>&#8220;Principal Property&#8221; <\/em>means any plant, office facility, warehouse,<br \/>\ndistribution center or equipment located within the United States of America<br \/>\n(other than its territories or possessions) and owned by the Company or any<br \/>\nsubsidiary, the gross book value (without deduction of any depreciation<br \/>\nreserves) of which on the date as of which the determination is being made<br \/>\nexceeds 1% of the Consolidated Net Tangible Assets of the Company, except any<br \/>\nsuch property which the Company153s Board of Directors, in its good faith opinion,<br \/>\ndetermines is not of material importance to the business conducted by the<br \/>\nCompany and its subsidiaries, taken as a whole, as evidenced by a board<br \/>\nresolution.<\/p>\n<p><em>&#8220;Restricted Subsidiary&#8221; <\/em>means any subsidiary of the Company which<br \/>\nowns or leases a Principal Property.<\/p>\n<p align=\"center\">7<\/p>\n<hr>\n<\/p>\n<p><strong>Consolidation, Merger and Sale of Assets <\/strong><\/p>\n<p>The Company may not consolidate or merge with or into, or convey, transfer or<br \/>\nlease its properties and assets substantially as an entirety to any Person<br \/>\nunless (1) such Person is a corporation, partnership, limited liability company<br \/>\nor trust organized and validly existing under the laws of any domestic<br \/>\njurisdiction and such successor Person assumes by supplemental indenture the<br \/>\nCompany153s obligations on each series of the debt securities and under the<br \/>\nindenture, (2) after giving effect to the transaction no Event of Default, and<br \/>\nno event which, after notice or lapse of time, would become an Event of Default,<br \/>\nshall have occurred and be continuing under the indenture, (3) as a result of<br \/>\nsuch transaction the properties or assets of the Company are not subject to any<br \/>\nencumbrance which would not be permitted under the indenture and (4) the Company<br \/>\nshall have delivered an Officers153 Certificate and an Opinion of Counsel, each<br \/>\nstating that such transaction or supplemental indenture, complies with the<br \/>\nindenture.<\/p>\n<p><strong>Events of Default<\/strong><\/p>\n<p>Each of the following will be an event of default:<\/p>\n<p>(1) default in any payment of interest on any debt security when it becomes<br \/>\ndue and payable, continued for 30 days;<\/p>\n<p>(2) default in the payment of principal of or premium, if any, on any debt<br \/>\nsecurity when due at its stated maturity, upon optional redemption, upon<br \/>\ndeclaration or otherwise;<\/p>\n<p>(3) our failure, after notice, to comply within 60 days with any of our other<br \/>\nagreements contained in the indenture applicable to the debt securities (other<br \/>\nthan a covenant or warranty expressly excluded from events giving rise to a<br \/>\ndefault, including the obligation to file SEC filings with the trustee); or<\/p>\n<p>(4) certain events of bankruptcy, insolvency or reorganization for us.<\/p>\n<p>A default under clause (3) of this paragraph will not constitute an event of<br \/>\ndefault until the trustee or the holders of at least 25% in principal amount of<br \/>\nthe outstanding securities of such series notify us of the default and such<br \/>\ndefault is not cured within the time specified in clause (3) of this paragraph<br \/>\nafter receipt of such notice.<\/p>\n<p>If an event of default (other than an event of default referred to in clause<br \/>\n(4) above with respect to us) occurs and is continuing, the trustee or the<br \/>\nholders of at least 25% in principal amount of the outstanding securities of<br \/>\nsuch series by written notice to us and the trustee may, and the trustee at the<br \/>\nrequest of such holders shall, declare the principal of and accrued and unpaid<br \/>\ninterest, if any, on all securities of such series to be due and payable. Upon<br \/>\nsuch a declaration, such principal and accrued and unpaid interest will be due<br \/>\nand payable immediately. If an event of default referred to in clause (4) above<br \/>\noccurs with respect to us, the principal of and accrued and unpaid interest on<br \/>\nall outstanding securities will become and be immediately due and payable<br \/>\nwithout any declaration or other act on the part of the trustee or any holders.\n<\/p>\n<p>The trustee will not be deemed to have notice of any default or any event of<br \/>\ndefault unless a responsible officer of the trustee (as defined in the<br \/>\nIndenture) has actual notice of the default or the event of default or the<br \/>\ntrustee has received written notice of any event which is a default and the<br \/>\nnotice references the notes and the Indenture.<\/p>\n<p>In order for holders of any series of securities to initiate proceedings for<br \/>\na remedy under the indenture (other than with respect to an event of default<br \/>\nreferred to in clause (4) above with respect to us), holders of at least 25% in<br \/>\nprincipal amount of such series of securities must first give written notice to<br \/>\nus as provided above, must request that the trustee initiate a proceeding in its<br \/>\nown name and must offer the trustee indemnity reasonably satisfactory to the<br \/>\ntrustee against costs, expenses, and liabilities incurred in compliance with<br \/>\nsuch request. If the trustee still refuses for 60 days to initiate the<br \/>\nproceeding, and no inconsistent direction has been given to the trustee by<br \/>\nholders of a majority of such series of securities, the holders may initiate a<br \/>\nproceeding as long as they do not adversely affect the rights of any other<br \/>\nholders of such series of securities. However, any holder is entitled at any<br \/>\ntime to bring a lawsuit for payment of money due on its securities on or after<br \/>\nthe due date.<\/p>\n<p>The holders of a majority in principal amount of the outstanding securities<br \/>\nof any series may rescind a declaration of acceleration with respect to such<br \/>\nseries of securities if all events of default, besides the failure to pay<br \/>\nprincipal due solely because of the declaration of acceleration, have been cured<br \/>\nor waived.<\/p>\n<p align=\"center\">8<\/p>\n<hr>\n<\/p>\n<p>If we default on the payment of any installment of interest and fail to cure<br \/>\nthe default within 30 days, or if we default on the payment of principal (or<br \/>\npremium, if any) when it becomes due, then the trustee may require us to pay all<br \/>\namounts due to the trustee, with interest on the overdue principal or interest<br \/>\npayments, in addition to the expenses of collection.<\/p>\n<p>The indenture provides that if a default occurs and is continuing and is<br \/>\nknown to the trustee, the trustee must mail to each holder notice of the default<br \/>\nwithin 90 days after it occurs. Except in the case of a default in the payment<br \/>\nof principal of (or premium, if any), or interest, if any, on any debt security,<br \/>\nor in the deposit of any sinking fund payment with respect to the securities of<br \/>\na series, the trustee may withhold notice if the trustee determines that<br \/>\nwithholding notice is in the best interests of the holders.<\/p>\n<p>The holders of a majority in principal amount of the outstanding securities<br \/>\nof any series may waive any past default or event of default with respect to<br \/>\nsuch series of securities except for a default in the payment of principal of<br \/>\n(or premium, if any) or interest, if any, on such series of securities or a<br \/>\ndefault relating to a provision that cannot be amended without the consent of<br \/>\neach affected holder.<\/p>\n<p><strong>Modification or Waiver<\/strong><\/p>\n<p>There are three types of changes we can make to the indenture.<\/p>\n<p><em>Changes Requiring Approval of Holders. <\/em>Certain changes cannot be<br \/>\nmade to the indenture or the debt securities of a particular series without<br \/>\napproval of each affected holder, including the following:<\/p>\n<ul>\n<li>reducing the principal or any premium or changing the stated maturity of the<br \/>\ndebt securities of a particular series;<\/li>\n<li>reducing the rate of, or changing the stated maturity of, any payment of<br \/>\ninterest on the debt securities of a particular series;<\/li>\n<li>making the principal, premium or interest payable in a currency other than<br \/>\nUnited States dollars or changing the place of payment;<\/li>\n<li>modifying the right of any holder to receive or sue for payment of<br \/>\nprincipal, premium or interest that would be due and payable at the maturity of<br \/>\nthe debt securities of a particular series;<\/li>\n<li>expressly subordinating the senior debt securities of a particular series to<br \/>\nother indebtedness of ours; or<\/li>\n<li>reducing the principal amount of the debt securities of a particular series<br \/>\nwhose holders must consent to supplement the indenture or to waive any of its<br \/>\nprovisions.<\/li>\n<\/ul>\n<p><em>Changes Requiring a Majority Vote of Holders. <\/em>Other than as set<br \/>\nforth above, the indenture and the debt securities of a particular series can<br \/>\ngenerally be amended by a vote in favor by holders owning a majority of the<br \/>\noutstanding aggregate principal amount of the debt securities of a particular<br \/>\nseries. In the event that more than one series of debt securities issued under<br \/>\nthe indenture is affected by the amendment, the vote of a particular series of<br \/>\ndebt securities will only amend the indenture with respect to such particular<br \/>\nseries of debt securities.<\/p>\n<p><em>Changes Not Requiring Approval of Holders. <\/em>From time to time, we and<br \/>\nthe trustee may, without the consent of the holders, amend the indenture or the<br \/>\ndebt securities of a particular series for specified purposes, including to:\n<\/p>\n<ul>\n<li>reflect that a successor has succeeded us and has assumed our covenants and<br \/>\nobligations under the debt securities and the indenture;<\/li>\n<li>add further covenants for the benefit of the holders of a particular series<br \/>\nof debt securities or surrender any right or power conferred on us with respect<br \/>\nto a particular series of debt securities;<\/li>\n<li>add any additional event of default with respect to the debt securities of a<br \/>\nparticular series;<\/li>\n<\/ul>\n<p align=\"center\">9<\/p>\n<hr>\n<\/p>\n<ul>\n<li>pledge property to the trustee as security for the debt securities of a<br \/>\nparticular series;<\/li>\n<li>add guarantees with respect to the debt securities of a particular series;\n<\/li>\n<li>evidence the appointment of a trustee other than Wells Fargo Bank, National<br \/>\nAssociation, with respect to the debt securities of a particular series in<br \/>\naccordance with the provisions of the indenture;<\/li>\n<li>modify the indenture in order to continue its qualification under the Trust<br \/>\nIndenture Act of 1939 or as may be necessary or desirable in accordance with<br \/>\namendments of that act;<\/li>\n<li>issue and establish the form and terms and conditions of other series of<br \/>\ndebt securities as provided in the indenture;<\/li>\n<li>cure any ambiguity, mistake or inconsistency in the indenture or in the debt<br \/>\nsecurities of a particular series or make any other provisions with respect to<br \/>\nmatters or questions arising under the indenture, as long as the interests of<br \/>\nthe holders are not adversely affected in any material respect;<\/li>\n<li>provide for uncertificated debt securities in addition to or in place of<br \/>\ncertificated debt securities; or<\/li>\n<li>comply with the rules of any applicable securities depositary.<\/li>\n<\/ul>\n<p><strong>Satisfaction and Discharge <\/strong><\/p>\n<p>The indenture with respect to the debt securities of a particular series will<br \/>\ncease to be of further effect, and we will be deemed to have satisfied and<br \/>\ndischarged our obligations with respect to the debt securities of such series,<br \/>\nwhen certain specified conditions have been satisfied, including the following:\n<\/p>\n<ul>\n<li>all debt securities of such series not previously delivered to the trustee<br \/>\nfor cancellation have become due and payable or will become due and payable at<br \/>\ntheir stated maturity or on a redemption date within one year;<\/li>\n<li>we deposit with the trustee, in trust, funds sufficient to pay the entire<br \/>\nindebtedness on the debt securities of such series that had not been previously<br \/>\ndelivered for cancellation, for the principal (and premium, if any) and accrued<br \/>\nand unpaid interest, if any, in the case of debt securities that have become due<br \/>\nand payable, or to the stated maturity or the redemption date, if earlier, in<br \/>\nthe case of other debt securities;<\/li>\n<li>we have paid or caused to be paid all other sums payable under the indenture<br \/>\nin respect of the debt securities of such series; and<\/li>\n<li>we have delivered to the trustee an officers153 certificate and opinion of<br \/>\ncounsel, each stating that all these conditions have been complied with.<\/li>\n<\/ul>\n<p>We will remain obligated to provide for registration of transfer and exchange<br \/>\nand to provide notices of redemption.<\/p>\n<p><strong>Defeasance <\/strong><\/p>\n<p>At our option, we can terminate all of our obligations with respect to<br \/>\ncertain covenants under the indenture with respect to debt securities of a<br \/>\nparticular series, other than the obligation to pay principal, any premium and<br \/>\nany interest on the debt securities of such series and other specified<br \/>\nobligations, at any time by:<\/p>\n<ul>\n<li>depositing money or United States government obligations with the trustee in<br \/>\nan amount sufficient to pay the principal, any premium and any interest on the<br \/>\ndebt securities of such series to their maturity; and<\/li>\n<li>complying with other specified conditions, including delivery to the trustee<br \/>\nof an opinion of counsel to the effect that holders will not recognize income,<br \/>\ngain or loss for United States Federal income tax purposes as a result of our<br \/>\ndefeasance.<\/li>\n<\/ul>\n<p>In addition, we can terminate all of our obligations under the indenture with<br \/>\nrespect to debt securities of a particular series, including the obligation to<br \/>\npay principal, any premium and any interest on the debt securities of such<br \/>\nseries, at any time by:<\/p>\n<ul>\n<li>depositing money or United States government obligations with the trustee in<br \/>\nan amount sufficient to pay the principal, any premium and any interest on such<br \/>\nseries of debt securities to their maturity; and<\/li>\n<\/ul>\n<p align=\"center\">10<\/p>\n<hr>\n<\/p>\n<ul>\n<li>complying with other specified conditions, including delivery to the trustee<br \/>\nof an opinion of counsel stating that there has been a ruling by the Internal<br \/>\nRevenue Service, or a change in the United States Federal tax law since the date<br \/>\nof the applicable indenture, to the effect that holders will not recognize<br \/>\nincome, gain or loss for United States Federal income tax purposes as a result<br \/>\nof our defeasance.<\/li>\n<\/ul>\n<p><strong>Governing Law<\/strong><\/p>\n<p>The indenture and the debt securities will be governed by, and construed in<br \/>\naccordance with, the laws of the State of New York.<\/p>\n<p><strong>Concerning the Trustee<\/strong><\/p>\n<p>Unless otherwise specified in the applicable prospectus supplement, the<br \/>\ntrustee under the indenture will be Wells Fargo Bank, National Association.<br \/>\nAdditionally, unless otherwise specified in the applicable prospectus<br \/>\nsupplement, Wells Fargo Bank, National Association, will serve as registrar and<br \/>\npaying agent with regard to the debt securities.<\/p>\n<p align=\"center\"><strong>PLAN OF DISTRIBUTION<\/strong><\/p>\n<p><strong>General <\/strong><\/p>\n<p>We may offer and sell debt securities in one or more transactions from time<br \/>\nto time to or through underwriters, who may act as principals or agents,<br \/>\ndirectly to other purchasers or through agents to other purchasers or through<br \/>\nany combination of these methods.<\/p>\n<p>A prospectus supplement relating to a particular offering of debt securities<br \/>\nmay include the following information:<\/p>\n<ul>\n<li>the terms of the offering;<\/li>\n<li>the names of any underwriters or agents;<\/li>\n<li>the purchase price of the debt securities;<\/li>\n<li>the net proceeds to us from the sale of the debt securities;<\/li>\n<li>any delayed delivery arrangements;<\/li>\n<li>any underwriting discounts and other items constituting underwriters153<br \/>\ncompensation;<\/li>\n<li>any initial public offering price; and<\/li>\n<li>any discounts or concessions allowed or reallowed or paid to dealers.<\/li>\n<\/ul>\n<p>The distribution of the debt securities may be effected from time to time in<br \/>\none or more transactions at a fixed price or prices, which may be changed, at<br \/>\nmarket prices prevailing at the time of sale, at prices related to prevailing<br \/>\nmarket prices or at negotiated prices.<\/p>\n<p><strong>Underwriting Compensation<\/strong><\/p>\n<p>We may offer these securities to the public through underwriting syndicates<br \/>\nrepresented by managing underwriters or through underwriters without an<br \/>\nunderwriting syndicate. If underwriters are used for the sale of securities, the<br \/>\nsecurities will be acquired by the underwriters for their own account. The<br \/>\nunderwriters may resell the securities in one or more transactions, including in<br \/>\nnegotiated transactions at a fixed public offering price or at varying prices<br \/>\ndetermined at the time of sale. In connection with any such underwritten sale of<br \/>\nsecurities, underwriters may receive compensation from us or from purchasers for<br \/>\nwhom they may act as agents, in the form of discounts, concessions or<br \/>\ncommissions. Underwriters may sell securities to or through dealers, and the<br \/>\ndealers may receive compensation in the form of discounts, concessions or<br \/>\ncommissions from the underwriters and\/or commissions from the purchasers for<br \/>\nwhom they may act as agents.<\/p>\n<p>If we use an underwriter or underwriters in the sale of particular<br \/>\nsecurities, we will execute an underwriting agreement with those underwriters at<br \/>\nthe time of the sale of those securities. The names of the underwriters will be<br \/>\nset forth in the prospectus supplement used by the underwriters to sell those<br \/>\nsecurities. Unless otherwise indicated<\/p>\n<p align=\"center\">11<\/p>\n<hr>\n<\/p>\n<p>in the prospectus supplement relating to a particular offering of securities,<br \/>\nthe obligations of the underwriters to purchase the securities will be subject<br \/>\nto customary conditions precedent and the underwriters will be obligated to<br \/>\npurchase all of the securities offered if any of the securities are purchased.\n<\/p>\n<p>Underwriters, dealers and agents that participate in the distribution of<br \/>\nsecurities may be deemed to be underwriters under the Securities Act. Any<br \/>\ndiscounts or commissions that they receive from us and any profit that they<br \/>\nreceive on the resale of securities may be deemed to be underwriting discounts<br \/>\nand commissions under the Securities Act. If any entity is deemed an underwriter<br \/>\nor any amounts deemed underwriting discounts and commissions, the prospectus<br \/>\nsupplement will identify the underwriter or agent and describe the compensation<br \/>\nreceived from us.<\/p>\n<p><strong>Indemnification<\/strong><\/p>\n<p>We may enter agreements under which underwriters and agents who participate<br \/>\nin the distribution of securities may be entitled to indemnification by us<br \/>\nagainst various liabilities, including liabilities under the Securities Act, and<br \/>\nto contribution with respect to payments which the underwriters, dealers or<br \/>\nagents may be required to make.<\/p>\n<p><strong>Related Transactions<\/strong><\/p>\n<p>Various of the underwriters who participate in the distribution of<br \/>\nsecurities, and their affiliates, may perform various commercial banking and<br \/>\ninvestment banking services for us from time to time in the ordinary course of<br \/>\nbusiness.<\/p>\n<p><strong>Delayed Delivery Contracts<\/strong><\/p>\n<p>We may authorize underwriters or other persons acting as our agents to<br \/>\nsolicit offers by institutions to purchase securities from us pursuant to<br \/>\ncontracts providing for payment and delivery on a future date. These<br \/>\ninstitutions may include commercial and savings banks, insurance companies,<br \/>\npension funds, investment companies, educational and charitable institutions and<br \/>\nothers, but in all cases we must approve these institutions. The obligations of<br \/>\nany purchaser under any of these contracts will be subject to the condition that<br \/>\nthe purchase of the securities shall not at the time of delivery be prohibited<br \/>\nunder the laws of the jurisdiction to which such purchaser is subject. The<br \/>\nunderwriters and other agents will not have any responsibility in respect of the<br \/>\nvalidity or performance of these contracts.<\/p>\n<p><strong>Price Stabilization and Short Positions<\/strong><\/p>\n<p>If underwriters or dealers are used in the sale, until the distribution of<br \/>\nthe securities is completed, rules of the SEC may limit the ability of any<br \/>\nunderwriters to bid for and purchase the securities. As an exception to these<br \/>\nrules, representatives of any underwriters are permitted to engage in<br \/>\ntransactions that stabilize the price of the securities. These transactions may<br \/>\nconsist of bids or purchases for the purpose of pegging, fixing or maintaining<br \/>\nthe price of the securities. If the underwriters create a short position in the<br \/>\nsecurities in connection with the offering (that is, if they sell more<br \/>\nsecurities than are set forth on the cover page of the prospectus supplement)<br \/>\nthe representatives of the underwriters may reduce that short position by<br \/>\npurchasing securities in the open market.<\/p>\n<p>We make no representation or prediction as to the direction or magnitude of<br \/>\nany effect that the transactions described above may have on the price of the<br \/>\nsecurities. In addition, we make no representation that the representatives of<br \/>\nany underwriters will engage in these transactions or that these transactions,<br \/>\nonce commenced, will not be discontinued without notice.<\/p>\n<p align=\"center\"><strong>LEGAL MATTERS <\/strong><\/p>\n<p>The validity of the securities being offered will be passed upon for us by<br \/>\nMorgan, Lewis &amp; Bockius LLP.<\/p>\n<p align=\"center\"><strong>EXPERTS<\/strong><\/p>\n<p>Ernst &amp; Young LLP, independent registered public accounting firm, has<br \/>\naudited our consolidated financial statements and financial statement schedule<br \/>\nincluded in our Annual Report on Form 10-K for the year ended June 30, 2011, and<br \/>\nthe effectiveness of our internal control over financial reporting as of June<br \/>\n30, 2011, as set forth in their reports, which are incorporated by reference in<br \/>\nthis prospectus and elsewhere in the registration statement. Our financial<br \/>\nstatements and schedule are incorporated by reference in reliance on Ernst &amp;<br \/>\nYoung LLP&#8217;s reports, given on their authority as experts in accounting and<br \/>\nauditing.<\/p>\n<p align=\"center\">12<\/p>\n<hr>\n<\/p>\n<p align=\"center\"><strong>INCORPORATION OF DOCUMENTS BY REFERENCE <\/strong><\/p>\n<p>The following documents, which we have filed with the SEC (File No. 1-07151)<br \/>\nare incorporated by reference into this prospectus:<\/p>\n<table cellpadding=\"0\" class=\" \" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"1%\" valign=\"top\"><\/td>\n<td width=\"1%\" valign=\"top\">\n<p>(a)<\/p>\n<\/td>\n<td width=\"1%\" valign=\"top\"><\/td>\n<td width=\"97%\">\n<p>The Company153s Annual Report on Form 10-K for the fiscal year ended June 30,<br \/>\n2011, filed on August 26, 2011;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"1%\"><\/td>\n<td colspan=\"3\" width=\"99%\"><\/td>\n<\/tr>\n<tr>\n<td width=\"1%\" valign=\"top\"><\/td>\n<td width=\"1%\" valign=\"top\">\n<p>(b)<\/p>\n<\/td>\n<td width=\"1%\" valign=\"top\"><\/td>\n<td width=\"97%\">\n<p>The Company153s Quarterly Report on Form 10-Q for the fiscal quarter ended<br \/>\nSeptember 30, 2011, filed on November 3, 2011; and<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"1%\"><\/td>\n<td colspan=\"3\" width=\"99%\"><\/td>\n<\/tr>\n<tr>\n<td width=\"1%\" valign=\"top\"><\/td>\n<td width=\"1%\" valign=\"top\">\n<p>(c)<\/p>\n<\/td>\n<td width=\"1%\" valign=\"top\"><\/td>\n<td width=\"97%\">\n<p>The Company153s Current Reports on Form 8-K, filed on July 18, 2011, July 19,<br \/>\n2011, July 19, 2011 (as amended on July 20, 2011), July 20, 2011, July 26, 2011,<br \/>\nAugust 4, 2011, August 19, 2011, September 16, 2011, and October 6, 2011.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>All documents that we subsequently file pursuant to Section 13(a), 13(c), 14<br \/>\nor 15(d) of the Securities Exchange Act of 1934, as amended, other than any<br \/>\ninformation we furnish, rather than file, with the SEC pursuant to certain items<br \/>\nof Form 8-K, prior to the termination of the applicable offering, shall be<br \/>\ndeemed to be incorporated by reference into this prospectus. Any statement<br \/>\ncontained in a document incorporated or deemed to be incorporated by reference<br \/>\nherein shall be deemed to be modified or superseded for the purposes of this<br \/>\nprospectus to the extent that a statement contained herein or in any other<br \/>\nsubsequently filed document that also is or is deemed to be incorporated by<br \/>\nreference herein modifies or supersedes such statement. Any such statement so<br \/>\nmodified or superseded shall not be deemed, except as so modified or superseded,<br \/>\nto constitute a part of this prospectus.<\/p>\n<p>We will provide without charge to each person, including any beneficial<br \/>\nowner, to whom a copy of this prospectus is delivered, upon the written or oral<br \/>\nrequest of such person, a copy of any or all of the documents incorporated by<br \/>\nreference in this prospectus but not delivered with this prospectus. Requests<br \/>\nshould be made to The Clorox Company, Attention: Secretary, 1221 Broadway,<br \/>\nOakland, CA 94612-1888.<\/p>\n<p align=\"center\"><strong>WHERE YOU CAN FIND MORE INFORMATION<\/strong><\/p>\n<p>We file annual, quarterly and current reports and other information with the<br \/>\nSEC. You can read and copy these reports and other information, including the<br \/>\ndocuments incorporated by reference, at the SEC153s public reference room at 100 F<br \/>\nStreet, N.E., Washington, D.C. 20549 (please call 1-800-SEC-0330 for further<br \/>\ninformation about the operation of the public reference room). Such documents,<br \/>\nreports and other information are also available on the SEC153s website at<br \/>\n<em>http:\/\/www.sec.gov<\/em>. Our website address is <em>www.clorox.com<\/em>.<br \/>\nInformation on our website does not constitute part of this prospectus or any<br \/>\naccompanying prospectus supplement.<\/p>\n<p>We also provide information to the New York Stock Exchange because our common<br \/>\nstock is traded on the New York Stock Exchange. You may obtain our reports and<br \/>\nother information at the offices of the New York Stock Exchange, Inc., 20 Broad<br \/>\nStreet, New York, NY 10005.<\/p>\n<p align=\"center\">13<\/p>\n<hr>\n<\/div>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7125],"corporate_contracts_industries":[9395],"corporate_contracts_types":[9629],"class_list":["post-43854","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-clorox-co","corporate_contracts_industries-consumer__cleaning","corporate_contracts_types-securities"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/43854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=43854"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=43854"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=43854"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=43854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}