EX-4.1



 Exhibit 4.1 
  

 
 Twenty-Second Supplemental
Indenture 
 Dated as of May 12, 2014 

Supplement to the Amended and Restated Indenture 

Dated as of April 22, 2005 
  

 
 PACIFIC GAS
AND ELECTRIC COMPANY 
 Issuer 

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

 
  

 
  







 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	ARTICLE I	  	 DEFINITIONS
	  	 	2	  
	ARTICLE II	  	 ESTABLISHMENT OF THE FLOATING RATE SENIOR NOTES; TERMS
	  	 	3	  


							
	 SECTION 201
	  	 Establishment and Designation of the Floating Rate Senior Notes
	  	 	3	  
	 SECTION 202
	  	 Form of the Floating Rate Senior Notes
	  	 	3	  
	 SECTION 203
	  	 Principal Amount of the Floating Rate Senior Notes
	  	 	3	  
	 SECTION 204
	  	 Interest Rates; Stated Maturity of the Floating Rate Senior Notes
	  	 	3	  
	 SECTION 205
	  	 No Sinking Fund
	  	 	3	  
	 SECTION 206
	  	 No Redemption
	  	 	3	  
	 SECTION 207
	  	 Paying Agent and Bond Registrar
	  	 	3	  
	 SECTION 208
	  	 Calculation Agent
	  	 	4	  
	 SECTION 209
	  	 Global Securities; Appointment of Depositary for Global Securities
	  	 	4	  
	 SECTION 210
	  	 Other Terms of the Floating Rate Senior Notes
	  	 	4	  


							
	 ARTICLE III
	  	MISCELLANEOUS 	  	 	4	  


							
	 SECTION 301
	  	 Concerning the Trustee
	  	 	4	  
	 SECTION 302
	  	 Application of Twenty-Second Supplemental Indenture
	  	 	5	  
	 SECTION 303
	  	 Effective Date of Twenty-Second Supplemental Indenture
	  	 	5	  
	 SECTION 304
	  	 Counterparts
	  	 	5	  


					
	 EXHIBIT A
	  		  	


  
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 TWENTY-SECOND SUPPLEMENTAL INDENTURE, dated as of May 12, 2014 (this
“Twenty-Second Supplemental Indenture”), by and between PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of California (the “Company” or the “Issuer”), and
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association organized and existing under the laws of the United States of America (formerly known as The Bank of New York Trust Company, N.A.), as Trustee under the Base
Indenture (as hereinafter defined) (the “Trustee”). 
 RECITALS OF THE COMPANY 

A.    The Company and the Trustee are parties to that certain Amended and Restated Indenture, dated as of April 22,
2005 (the “Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of March 13, 2007 (the “First Supplemental Indenture”), the Second Supplemental Indenture, dated as of December 4, 2007 (the
“Second Supplemental Indenture”), the Third Supplemental Indenture, dated as of March 3, 2008 (the “Third Supplemental Indenture”), the Fourth Supplemental Indenture, dated as of October 21, 2008 (the “Fourth
Supplemental Indenture”), the Fifth Supplemental Indenture, dated as of November 18, 2008 (the “Fifth Supplemental Indenture”), the Sixth Supplemental Indenture, dated as of March 6, 2009 (the “Sixth Supplemental
Indenture”), the Seventh Supplemental Indenture, dated as of June 11, 2009 (the “Seventh Supplemental Indenture”), the Eighth Supplemental Indenture, dated as of November 18, 2009 (the “Eighth Supplemental
Indenture”), the Ninth Supplemental Indenture, dated as of April 1, 2010 (the “Ninth Supplemental Indenture”), the Tenth Supplemental Indenture, dated as of September 15, 2010 (the “Tenth Supplemental Indenture”),
the Eleventh Supplemental Indenture, dated as of October 12, 2010 (the “Eleventh Supplemental Indenture”), the Twelfth Supplemental Indenture, dated as of November 18, 2010 (the “Twelfth Supplemental Indenture”), the
Thirteenth Supplemental Indenture, dated as of May 13, 2011 (the “Thirteenth Supplemental Indenture”), the Fourteenth Supplemental Indenture, dated as of September 12, 2011 (the “Fourteenth Supplemental Indenture”), the
Fifteenth Supplemental Indenture, dated as of November 22, 2011 (the “Fifteenth Supplemental Indenture”), the Sixteenth Supplemental Indenture, dated as of December 1, 2011 (the “Sixteenth Supplemental Indenture”), the
Seventeenth Supplemental Indenture, dated as of April 16, 2012 (the “Seventeenth Supplemental Indenture”), the Eighteenth Supplemental Indenture, dated as of August 16, 2012 (the “Eighteenth Supplemental Indenture”),
the Nineteenth Supplemental Indenture, dated as of June 14, 2013 (the “Nineteenth Supplemental Indenture”), the Twentieth Supplemental Indenture, dated as of November 12, 2013 (the “Twentieth Supplemental Indenture”),
the Twenty-First Supplemental Indenture, dated as of February 21, 2014 (the “Twenty-First Supplemental Indenture”), and this Twenty-Second Supplemental Indenture (this “Twenty-Second Supplemental Indenture,” and together
with the Base Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture, the Seventh
Supplemental Indenture, the Eighth Supplemental Indenture, the Ninth Supplemental Indenture, the Tenth Supplemental Indenture, the Eleventh Supplemental Indenture, the Twelfth Supplemental Indenture, the Thirteenth Supplemental Indenture, the
Fourteenth Supplemental Indenture, the Fifteenth Supplemental Indenture, the Sixteenth Supplemental Indenture, the Seventeenth Supplemental Indenture, the Eighteenth Supplemental Indenture, the Nineteenth Supplemental Indenture, the Twentieth
Supplemental Indenture and the Twenty-First Supplemental Indenture, the “Indenture”), which supplements, amends and 







 
restates that certain Indenture of Mortgage, dated as of March 11, 2004, as supplemented by the First Supplemental Indenture thereto, dated as of March 23, 2004 and the Second
Supplemental Indenture thereto, dated as of April 12, 2004, providing for the issuance by the Company of an unlimited number of series of Bonds (as defined in the Base Indenture) from time to time. 

B.    Under the Base Indenture, the Company is authorized to establish one or more series of Bonds at any time in
accordance with and subject to the provisions of the Base Indenture, and the terms of such series of Bonds may be described by a supplemental indenture executed by the Company and the Trustee. 

C.    The execution and delivery of this Twenty-Second Supplemental Indenture has been authorized by a Board Resolution (as
defined in the Base Indenture). 
 D.    Concurrent with the execution hereof, the Company has caused its counsel to
deliver to the Trustee an Opinion of Counsel (as defined in the Base Indenture) pursuant to Section 13.03 of the Base Indenture, together with the documents required under Article V of the Base Indenture. 

E.    The Company has done all things necessary to make this Twenty-Second Supplemental Indenture a valid agreement of the
Company, in accordance with its terms. 
 NOW, THEREFORE, the Company and the Trustee agree, for the benefit of each other and for the equal
and proportionate benefit of Holders of the Floating Rate Senior Notes (as defined below) with respect to all provisions herein applicable to such series of notes, as follows: 

ARTICLE I 
 
DEFINITIONS 
 Unless the context otherwise requires, capitalized terms used but not defined herein have the meaning set forth in
the Indenture. The following additional terms are hereby established for purposes of this Twenty-Second Supplemental Indenture and shall have the meanings set forth in this Twenty-Second Supplemental Indenture only for purposes of this Twenty-Second
Supplemental Indenture: 
 “Calculation Agency Agreement” means the Calculation Agency Agreement, dated as of
May 12, 2014, by and between the Company and the Calculation Agent, as such agreement may be amended, modified or supplemented from time to time. 

“Calculation Agent” means The Bank of New York Mellon Trust Company, N.A. or such other Person as the Company shall
from time to time designate in accordance with the Calculation Agency Agreement. 
 “Floating Rate Senior Notes” has
the meaning set forth in Section 201 hereto. 
 “Original Issue Date” means May 12, 2014. 

 
  

  
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 The words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Twenty-Second Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

ARTICLE II 
 
ESTABLISHMENT OF THE FLOATING RATE SENIOR NOTES; TERMS 
 SECTION
201    Establishment and Designation of the Floating Rate Senior Notes. 

Pursuant to the terms hereof and Section 3.01 of the Indenture, the Company hereby establishes a forty-fifth series of Bonds designated as
the “Floating Rate Senior Notes due May 11, 2015” (the “Floating Rate Senior Notes”). The Floating Rate Senior Notes may be reopened, from time to time, for issuances of additional Bonds of such series, and any additional
Bonds issued and comprising Floating Rate Senior Notes shall have identical terms as the Floating Rate Senior Notes, except that the issue price, issue date and, in some cases, the first Interest Payment Date may differ. 

SECTION 202    Form of the Floating Rate Senior Notes. 

The Floating Rate Senior Notes shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit A
hereto. 
 SECTION 203    Principal Amount of the Floating Rate Senior
Notes. 
 The Floating Rate Senior Notes shall be issued in an initial aggregate principal amount of $300,000,000. 

SECTION 204    Interest Rates; Stated Maturity of the Floating Rate Senior
Notes. 
 The rate of interest on the Floating Rate Senior Notes shall be calculated as set forth in the form of the Floating Rate
Senior Notes attached as Exhibit A hereto. 
 The Floating Rate Senior Notes shall have a Stated Maturity of May 11, 2015. 

SECTION 205    No Sinking Fund. 

No sinking fund is provided for the Floating Rate Senior Notes. 

SECTION 206    No Redemption. 

The Floating Rate Senior Notes shall not be subject to redemption prior to their Stated Maturity. 

SECTION 207    Paying Agent and Bond Registrar. 

The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the Floating Rate Senior Notes. The Place of Payment of
the Floating Rate Senior Notes shall be the Corporate Trust Office of the Trustee. 

  
 3 








 SECTION 208    Calculation
Agent. 
 The Bank of New York Mellon Trust Company, N.A. is hereby appointed as the initial Calculation Agent for the Floating Rate
Senior Notes. 
 SECTION 209    Global Securities; Appointment of Depositary for
Global Securities. 
 The Floating Rate Senior Notes shall be issued in the form of one or more permanent Global Bonds as
provided in Section 3.13 of the Indenture and deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. 

The Company hereby initially appoints The Depository Trust Company (“DTC”) to act as the Depositary with respect to all Floating
Rate Senior Notes, and the Floating Rate Senior Notes shall initially be registered in the name of Cede & Co., as the nominee of DTC. 

The Company and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor
nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if necessary, and shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Indenture. 

None of the Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of
Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for maintaining, supervising or reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of
beneficial interests in the Bonds or any transactions between the Depositary and beneficial owners. 
 SECTION
210    Other Terms of the Floating Rate Senior Notes. 
 The other terms of
the Floating Rate Senior Notes shall be as expressly set forth herein and in Exhibit A. 
 ARTICLE III 

MISCELLANEOUS 

SECTION 301    Concerning the Trustee. 

In acting under and by virtue of this Twenty-Second Supplemental Indenture, the Trustee shall have all of the rights, protections and
immunities given to it in the Base Indenture. The Trustee shall have no responsibility for the validity or sufficiency of this Twenty-Second Supplemental Indenture. 

  
 4 








 SECTION 302    Application of
Twenty-Second Supplemental Indenture. 
 Except as provided herein, each and every term and condition contained in this Twenty-Second
Supplemental Indenture that modifies, amends or supplements the terms and conditions of the Indenture shall apply only to the Floating Rate Senior Notes established hereby and not to any other series of Bonds established under the Indenture. Except
as specifically amended and supplemented by, or to the extent inconsistent with, this Twenty-Second Supplemental Indenture, the Indenture shall remain in full force and effect and is hereby ratified and confirmed. 

SECTION 303    Effective Date of Twenty-Second Supplemental Indenture. 

This Twenty-Second Supplemental Indenture shall be effective upon the execution and delivery hereof by each of the parties hereto. 

SECTION 304    Counterparts. 

This Twenty-Second Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Twenty-Second Supplemental Indenture to
be duly executed by their respective officers hereunto duly authorized, all as of the day and year first above written. 
  

			
	 PACIFIC GAS AND ELECTRIC COMPANY,

           as Issuer

		
	By:	 	/s/ Nicholas M. Bijur
	Name:	 	Nicholas M. Bijur
	Title:	 	Vice President and Treasurer


  

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

           as Trustee

		
	By:	 	/s/ Melonee Young
	Name:	 	Melonee Young
	Title:	 	Vice President


 Signature Page to Twenty-Second Supplemental Indenture 







 EXHIBIT A 

FORM OF FLOATING RATE SENIOR NOTES DUE MAY 11, 2015 

THIS SENIOR NOTE IS A BOND AND A GLOBAL BOND WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SENIOR NOTES IN DEFINITIVE FORM, THIS SENIOR NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF
THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS SENIOR NOTE CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SENIOR NOTE CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE
INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT :

$300,000,000
	 	 ORIGINAL ISSUE DATE:
 May 12,
2014
	 	INTEREST RATE: 3-month LIBOR plus 0.20% per annum
			
	 MATURITY DATE:

May 11, 2015
	 	 INTEREST PAYMENT DATES:
 August 11,
2014, November 11, 2014, February 11, 2015 and the Maturity Date
	 	 THIS SENIOR NOTE IS A:
 x Global Book-Entry Bond
  ̈ Certificated Bond

			
	REGISTERED OWNER: Cede & Co., as nominee of The Depository Trust Company	 		 	


  
 A-1 








 PACIFIC GAS AND ELECTRIC COMPANY 

FLOATING RATE SENIOR NOTES DUE MAY 11, 2015 

(Floating Rate) 
  

			
	No. R-1	 	Principal Amount: $300,000,000
	CUSIP No: 694308 HJ9	 	

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., as
nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in the case of a Floating
Rate Senior Note due May 11, 2015 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on the Interest Payment
Dates set forth above and on the Maturity Date stated above until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such
Indenture, be paid to the Person in whose name this Floating Rate Senior Note due May 11, 2015 (this “Senior Note,” and together with all other Floating Rate Senior Notes due May 11, 2015, the “Senior Notes”) (or one or
more Predecessor Bonds) is registered at the close of business on the Regular Record Date for such interest, which shall be the 15th day preceding such Interest Payment Date; provided, however, that interest payable at the Maturity
Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose
name this Senior Note (or one or more Predecessor Bonds) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Senior Notes
not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of the Indenture and any securities exchange, if any, on which the Senior Notes may be listed, and upon
such notice as may be required by any such exchange, all as more fully provided in said Indenture. 
 Payments of interest on this Senior
Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for this Senior Note shall be computed and paid on the basis of a 360-day year and the actual days elapsed. 

Payment of principal of, premium, if any, and interest on Senior Notes shall be made in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts. Payments of principal of, premium, if any, and interest on the Senior Notes represented by a Global Bond shall be made by wire transfer of immediately available funds
to the Holder of such Global Bond, provided that, in the case of payments of 

  
 A-2 








 
principal and premium, if any, such Global Bond is first surrendered to the Paying Agent. If any of the Senior Notes are no longer represented by a Global Bond, (i) payments of principal,
premium, if any, and interest due on the Maturity Date of such Senior Notes shall be made at the office of the Paying Agent upon surrender of such Senior Notes to the Paying Agent, and (ii) payments of interest shall be made, at the option of
the Company, subject to such surrender where applicable, (A) by check mailed to the address of the Person entitled thereto as such address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least
$10,000,000 in principal amount of Senior Notes at such place and to such account at a banking institution in the United States as such Holders may designate in writing to the Trustee at least sixteen (16) days prior to the date for payment.

 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SENIOR NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL
FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
 Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3 








 IN WITNESS WHEREOF, the Company has caused this instrument to be
duly executed. 
 Dated: May         , 2014 

 

			
	PACIFIC GAS AND ELECTRIC COMPANY
		
	By:	 	 
	Name:	 	Kent M. Harvey
	Title:	 	Senior Vice President, Financial Services


  

			
		
	By:	 	 
	Name:	 	Nicholas M. Bijur
	Title:	 	Vice President and Treasurer



  
 A-4 








 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This Senior Note is one of the Bonds of the series designated as Bonds of the Forty-Fifth Series referred to in the within-mentioned
Indenture. 
 Dated: May         , 2014 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., As Trustee
		
	By:	 	 
		 	Authorized Signatory



  
 A-5 








 Reverse of Senior Note 

This Floating Rate Senior Note due May 11, 2015 is one of a duly authorized issue of Bonds of the Company, issued and issuable in one or
more series under an Amended and Restated Indenture, dated as of April 22, 2005 (the “Base Indenture”), as heretofore supplemented and as further supplemented by a Twenty-Second Supplemental Indenture, dated as of May 12, 2014
(as so supplemented, and together with all additional indentures supplemental thereto, and any constituent instruments establishing the terms of particular Bonds, being herein called the “Indenture”), between the Company and The Bank of
New York Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture
for a description of the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and
delivered. This Senior Note is a Bond within the meaning of the Indenture and is one of the Bonds of the forty-fifth series designated as the Floating Rate Senior Note due May 11, 2015 established by the Company under the Indenture. The
acceptance of this Senior Note shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. 

The interest rate on the Senior Notes will be reset quarterly on August 11, 2014, November 11, 2014 and February 11, 2015
(each, an “Interest Reset Date”). The Senior Notes will bear interest at a per annum rate equal to three-month LIBOR (as defined below) for the applicable Interest Reset Period or Initial Interest Period (each as defined below) plus 0.20%
(20 basis points). The interest rate for the Initial Interest Period will be three-month LIBOR, determined as of two London Business Days prior to the Original Issue Date, plus 0.20% (20 basis points) per annum, which shall be 0.42335%. 

The “Initial Interest Period” will be the period from and including the Original Issue Date to but excluding the initial Interest
Reset Date. Thereafter, each “Interest Reset Period” will be the period from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset Date; provided that the final Interest Reset Period for the Senior
Notes will be the period from and including the Interest Reset Date immediately preceding the Maturity Date of such Senior Notes to but excluding the Maturity Date. 

If any Interest Reset Date would otherwise be a day that is not a Business Day, the Interest Reset Date will be postponed to the immediately
succeeding day that is a Business Day, except that if that Business Day is in the immediately succeeding calendar month, the Interest Reset Date shall be the immediately preceding Business Day. 

The interest rate in effect on each day will be (i) if that day is an Interest Reset Date, the interest rate determined as of the
Interest Determination Date (as defined below) immediately preceding such Interest Reset Date or (ii) if that day is not an Interest Reset Date, the interest rate determined as of the Interest Determination Date immediately preceding the most
recent Interest Reset Date or the Original Issue Date, as the case may be. 

  
 A-6 








 The interest rate applicable to each Interest Reset Period commencing on the related Interest
Reset Date, or the Original Issue Date in the case of the Initial Interest Period, will be the rate determined as of the applicable Interest Determination Date. The “Interest Determination Date” will be the second London Business Day
immediately preceding the Original Issue Date, in the case of the initial Interest Reset Period, or thereafter, will be the second London Business Day immediately preceding the applicable Interest Reset Date. With respect to any Interest
Determination Date, the Calculation Agent will determine three-month LIBOR in accordance with the following provisions: 
 (i) LIBOR is the
rate for deposits in U.S. dollars for the 3-month period which appears on Reuters Screen LIBOR01 Page (as defined below) at approximately 11:00 a.m., London time, on the applicable Interest Determination Date. “Reuters Screen LIBOR01 Page”
means the display designated on page “LIBOR01” on Reuters Screen (or such other page as may replace the LIBOR01 page on that service, any successor service or such other service or services as may be nominated by the British Bankers’
Association for the purpose of displaying London interbank offered rates for U.S. dollar deposits). If no rate appears on Reuters Screen LIBOR01 Page, LIBOR for such Interest Determination Date will be determined in accordance with the provisions of
paragraph (ii) below. 
 (ii) With respect to an Interest Determination Date on which no rate appears on Reuters Screen LIBOR01 Page as
of approximately 11:00 a.m., London time, on such Interest Determination Date, the Calculation Agent shall request the principal London offices of each of four major reference banks (which may include affiliates of the underwriters) in the London
interbank market selected by the Company to provide the Calculation Agent with a quotation of the rate at which deposits of U.S. dollars having a three-month maturity, commencing on the second London Business Day immediately following such Interest
Determination Date, are offered by it to prime banks in the London interbank market as of approximately 11:00 a.m., London time, on such Interest Determination Date in a principal amount equal to an amount of not less than U.S. $1,000,000 that is
representative for a single transaction in such market at such time. If at least two such quotations are provided, LIBOR for such Interest Determination Date will be the arithmetic mean of such quotations as calculated by the Calculation Agent. If
fewer than two quotations are provided, LIBOR for such Interest Determination Date will be the arithmetic mean of the rates quoted as of approximately 11:00 a.m., New York City time, on such Interest Determination Date by three major banks (which
may include affiliates of the underwriters) selected by the Company for loans in U.S. dollars to leading European banks having a three-month maturity commencing on the second London Business Day immediately following such Interest Determination Date
and in a principal amount equal to an amount of not less than U.S. $1,000,000 that is representative for a single transaction in such market at such time; provided, however, that if the banks selected as aforesaid by the Company are not quoting such
rates as mentioned in this sentence, LIBOR for such Interest Determination Date will be LIBOR determined with respect to the immediately preceding Interest Determination Date. 

All percentages resulting from any calculation of any interest rate for the Senior Notes will be rounded, if necessary, to the nearest one
hundred thousandth of a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655)), and all dollar amounts will be rounded to the nearest cent, with
one-half cent being rounded upward. 

  
 A-7 








 Promptly upon such determination, the Calculation Agent will notify the Company and the Trustee
(if the Calculation Agent is not the Trustee) of the interest rate for the new Interest Reset Period. Upon request of a Holder of the Senior Notes, the Calculation Agent will provide to such Holder the interest rate in effect on the date of such
request and, if determined, the interest rate for the next Interest Reset Period. 
 All calculations made by the Calculation Agent for the
purposes of calculating interest on the Senior Notes shall be conclusive and binding on the Holders of the Senior Notes and the Company, absent manifest errors. 

“Business Day” means any day (1) that is not a Saturday or Sunday and that is not a day on which banking institutions are
authorized or obligated by law or executive order to close in The City of New York and, for any place of payment outside of The City of New York, in such place of payment, and (2) that is also a “London Business Day”, which is a day
on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 
 Interest will be payable on August 11,
2014, November 11, 2014 and February 11, 2015, and on the Maturity Date (each an “Interest Payment Date”). In the event that any date on which interest is payable on this Senior Note (other than the Maturity Date) is not a
Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same force and effect as if made on the date
the payment was originally payable, except that if such Business Day is in the next succeeding calendar month, such Interest Payment Date shall be the immediately preceding Business Day. If the Maturity Date falls on a day that is not a Business
Day, the payment of principal, premium, if any, and interest may be made on the next succeeding Business Day with the same force and effect as if made on the date payment was originally payable, and no interest on such payment shall accrue for the
period from and after maturity. 
 Unless otherwise specified on the face hereof, interest payments, if any, will be the amount of interest
accrued from and including the last date in respect of which interest has been paid or duly provided for (or from and including the Original Issue Date stated above if no interest has been paid or provided for with respect to this Senior Note) to
but excluding the Interest Payment Date or the Maturity Date. Accrued interest hereon from the Original Issue Date stated above or from the last date to which interest hereon has been paid is calculated by multiplying the face amount hereof by an
accrued interest factor. Such accrued interest factor is computed by adding the interest factor calculated for each day from the Original Issue Date stated above or from the last date to which interest shall have been paid, to the date for which
accrued interest is being calculated. The interest factor for each day shall be computed by dividing the interest rate applicable to such day by 360. All percentages resulting from any calculation hereon will be rounded to the nearest one
hundred-thousandth of a percentage point, with five-one millionths of a percentage point rounded upwards. For example, 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655). All dollar amounts used in or resulting from any calculation
hereon will be rounded to the nearest cent. 
 The interest rate on the Senior Notes will in no event be higher than the maximum rate
permitted by California law as the same may be modified by United States law of general applicability. 

  
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 This Senior Note shall not be subject to redemption prior to its Stated Maturity. 

As provided in the Indenture and subject to certain limitations therein set forth, this Senior Note or any portion of the principal amount
hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably
deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof,
will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any, and interest on this Senior Note when due. 

If an Event of Default shall occur and be continuing, the Trustee or the Holders of not less than 33% in aggregate principal amount of the
Outstanding Bonds, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that with
respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable immediately without further action by the Trustee or the Holders. 

The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee to enter into one or more supplemental
indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal amount of the Bonds at the
time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Indenture and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of
one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all series so directly affected, considered as one class, shall be required; and provided,
further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the
consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected, considered as one class, shall be required; and provided, further, that the Indenture permits the Company and the
Trustee to enter into one or more supplemental indentures for certain purposes without the consent of any Holders of Bonds. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf
of the Holders of all such Bonds, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Senior Note shall be conclusive and binding upon such Holder and upon all future Holders of
this Senior Note and of any Senior Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Senior Note. 

As provided in and subject to the provisions of the Indenture, the Holder of this Senior Note shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall 

  
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have previously given the Trustee written notice of a continuing Event of Default, the Holders of at least 33% in aggregate principal amount of the Bonds at the time Outstanding shall have made
written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate
principal amount of Bonds at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Senior Note for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Senior Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Senior Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Senior Note is registrable in the Bond
Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Senior Note are payable, duly endorsed by, or accompanied by a
written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new
Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes are exchangeable for a like aggregate principal amount of Senior Notes and of like tenor of a different authorized denomination, as requested by
the Holder surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due
presentment of this Senior Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Senior Note is registered as the owner hereof for all purposes, whether or not
this Senior Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This
Senior Note shall be governed by, and construed and enforced in accordance with, the laws of the State of California without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be
applicable. 

  
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 As provided in the Indenture, no recourse shall be had for the payment of the principal of,
premium, if any, or interest with respect to this Senior Note, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the
Indenture, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor
corporation), whether by virtue of any constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Bonds are solely
corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of this Senior Note. 

All terms used in this Senior Note which are not defined herein shall have the meanings assigned to them in the Indenture. 

  
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 ASSIGNMENT FORM 

To assign this Senior Note, fill in the form below: (I) or (we) assign and transfer this Senior Note to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name, address and zip
code) 
  
  

and irrevocably
appoint                                        
                                         
                                         
                                         
               
 to transfer this Senior Note on the books of the Company. The
agent may substitute another to act for him. 
  
  

Date:
                             

 

			
	
Your signature:                     
                                         
                               

	(Sign exactly as your name appears on the face of this Senior Note)
	
	Tax Identification No.:                              
                                         
          
	
	 SIGNATURE GUARANTEE:

		
	  
	 	
	
	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Bond Registrar, which requirements include membership or participation in the Securities Transfer Agent
Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Bond Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934,
as amended.



  
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