EX-4.8


 Exhibit 4.8 

Execution Version 

SUPPLEMENTAL INDENTURE 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of November 1, 2017, among LEVEL 3 COMMUNICATIONS, INC.,
a Delaware corporation (the “Issuer”), WWG MERGER SUB LLC (to be renamed LEVEL 3 PARENT, LLC), a Delaware limited liability company (the “New Parent”) and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a
national banking association, as trustee under the indenture referred to below (the “Trustee”) (collectively, the “Parties”). 

W I T N E S S E T H : 
 WHEREAS,
the Issuer has heretofore executed and delivered to the Trustee an Indenture, dated as of December 1, 2014 (as amended, supplemented or otherwise modified as of the date hereof, the “Indenture”; capitalized terms used but not
defined herein having the meanings assigned thereto in the Indenture), providing for the issuance of $600 million aggregate principal amount of its 5.750% Senior Notes due 2022 (the “Securities”); 

WHEREAS, on October 31, 2016, the Issuer entered into an Agreement and Plan of Merger with CenturyLink, Inc., Wildcat Merger Sub 1 LLC
(“Merger Sub 1”) and New Parent, pursuant to which, among other things, Merger Sub 1 merged with and into the Issuer, with the Issuer continuing as the surviving company, and subsequently the Issuer will merge with and into New
Parent, with New Parent continuing as the surviving company (the “Subsequent Merger”); 
 WHEREAS, Section 801
of the Indenture provides that, in connection with the Subsequent Merger, the Issuer and New Parent shall execute and deliver to the Trustee, and the Trustee shall execute, a supplemental indenture pursuant to which New Parent shall expressly assume
all of the Issuer’s obligations under the Indenture; 
 WHEREAS, pursuant to Section 901 of the Indenture, the Trustee, New Parent
and the Issuer are authorized to execute and deliver this Supplemental Indenture; and 
 WHEREAS, all acts and requirements necessary to
make this Supplemental Indenture the legal, valid and binding obligation of the Issuer and New Parent have been done. 
 NOW THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, New Parent and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the
Securities as follows: 
 1. Capitalized Terms. Capitalized terms used in this Supplemental Indenture (including the recitals hereto)
without definition shall have the meanings set forth in the Indenture. 






 2. Agreement to Assume Obligations. New Parent hereby expressly assumes all of the
Issuer’s obligations under the Indenture. 
 3. Release of Obligations of Parent. In accordance with Section 802 of the
Indenture, upon the execution of this Supplemental Indenture by the Issuer, New Parent and the Trustee, the Issuer is released from all of its obligations and covenants under the Indenture and the Securities, and New Parent shall constitute the
“Issuer” for purposes of the Securities and the Indenture. 
 4. Successors and Assigns. This Supplemental Indenture shall
be binding upon New Parent and its successors and assigns and shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights
and privileges conferred upon that party in the Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 

5. No Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or
privilege under this Supplemental Indenture, the Indenture or the Securities shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights,
remedies and benefits of the Trustee and the Holders herein and therein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Supplemental Indenture, the Indenture or the
Securities at law, in equity, by statute or otherwise. 
 6. Modification. No modification, amendment or waiver of any provision of
this Supplemental Indenture, nor the consent to any departure by New Parent, therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. No notice to or demand by New Parent in any case shall entitle New Parent to any other or further notice or demand in the same, similar or other circumstances. 

7. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in
all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Securities
heretofore or hereafter authenticated and delivered shall be bound hereby. 

  
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 8. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

9. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but
all of them together represent the same agreement. 
 10. Effect of Headings. The Section headings herein are for convenience only
and shall not affect the construction thereof. 
 11. Trustee. The Trustee makes no representations as to the validity or sufficiency
of this Supplemental Indenture. The recitals and statements herein are deemed to be those of the Issuer and New Parent and not of the Trustee. 

[Remainder of this page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	LEVEL 3 COMMUNICATIONS, INC., as Issuer,
		
	By:	 	 /s/ Sunit S. Patel

	Name:	 	Sunit S. Patel
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

	
	WWG MERGER SUB LLC, as New Parent,
		
	By:	 	 /s/ Sunit S. Patel

	Name:	 	Sunit S. Patel
	Title:	 	 Executive Vice President and
 Chief Financial
Officer



  

  
 [Signature page to the
Supplemental Indenture -5.750% Senior Notes] 







 
			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee,

		
	    By:	 	/s/ R. Tarnas
	    Name:	 	R. Tarnas
	    Title:	 	Vice President



  
 [Signature page to the
Supplemental Indenture -5.750% Senior Notes]