0001047469-05-000753 Sample Contracts

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First Supplemental Indenture • January 12th, 2005 • Westminster-Refco Management LLC • Security & commodity brokers, dealers, exchanges & services • New York

THIS FIRST SUPPLEMENTAL INDENTURE, dated as of August 5, 2004 (this "First Supplemental Indenture"), is by and among Refco Finance Inc., a Delaware corporation, Refco Group Ltd., LLC, a Delaware limited liability company ("Group Ltd."), each of the parties identified as a Subsidiary Guarantor on the signature pages hereto (each, a "Subsidiary Guarantor" and collectively, the "Subsidiary Guarantors") and Wells Fargo Bank, National Association, as trustee (the "Trustee").

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