Document:

Exhibit

Exhibit 4.1

NOBLE ENERGY, INC.
to
WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee

Seventh Supplemental Indenture
dated as of August 15, 2017
to
Indenture
dated as of February 27, 2009

$600,000,000 
3.850% Notes due 2028

$500,000,000
4.950% Notes due 2047

TABLE OF CONTENTS
	
		
	 
	Page

	ARTICLE I RELATION TO INDENTURE; DEFINITIONS
	1

	SECTION 1.01    Relation To Indenture
	1

	SECTION 1.02    Rules of Interpretation; Definitions
	1

	ARTICLE II THE SERIES OF DEBT SECURITIES
	2

	SECTION 2.01    Title of the Debt Securities
	2

	SECTION 2.02    Limitations on Aggregate Principal Amount
	2

	SECTION 2.03    Registered Securities; Global Form
	2

	SECTION 2.04    Forms and Terms of Notes
	2

	SECTION 2.05    Registrar and Paying Agent
	2

	SECTION 2.06    Applicability of Certain Indenture Provisions
	2

	ARTICLE III MISCELLANEOUS PROVISIONS
	3

	SECTION 3.01    Ratification of Indenture
	3

	SECTION 3.02    Governing Law
	3

	SECTION 3.03    Counterparts
	3

	SECTION 3.04    Recitals
	3

SEVENTH SUPPLEMENTAL INDENTURE, dated as of August 15, 2017 (this “Supplemental Indenture”), between NOBLE ENERGY, INC., a corporation duly organized and existing under the laws of the State of Delaware (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”).
RECITALS OF THE COMPANY
WHEREAS, the Company has heretofore delivered to the Trustee an Indenture dated as of February 27, 2009, as amended and supplemented from time to time (the “Indenture”), providing for the issuance from time to time of debt securities of the Company (the “Debt Securities”).
WHEREAS, Section 3.01 of the Indenture provides that various matters with respect to any series of Debt Securities issued under the Indenture may be established in an indenture supplemental to the Indenture.
WHEREAS, Section 12.01(f) of the Indenture provides for the Company and the Trustee to enter into an indenture supplemental to the Indenture to establish the form or terms of Debt Securities of any series as contemplated by Sections 2.01 and 3.01 of the Indenture.
WHEREAS, all the conditions and requirements necessary to make this Supplemental Indenture, when duly executed and delivered, a valid and legally binding agreement in accordance with its terms and for the purposes herein expressed, have been performed and fulfilled.
NOW, THEREFORE, THIS INDENTURE WITNESSETH:
For and in consideration of the premises and the purchase of the series of Debt Securities provided for herein by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the series of Debt Securities provided for herein, as follows:
ARTICLE I
RELATION TO INDENTURE; DEFINITIONS

SECTION 1.01Relation To Indenture.

This Supplemental Indenture constitutes an integral part of the Indenture.
SECTION 1.02    Rules of Interpretation; Definitions.

The first paragraph of Section 1.01 of the Indenture is fully incorporated by reference into this Supplemental Indenture.  For all purposes of this Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise requires, capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Indenture.

1

ARTICLE II
THE SERIES OF DEBT SECURITIES

SECTION 2.01    Title of the Debt Securities.

There is hereby created under the Indenture a series of Debt Securities designated the “3.850% Notes due 2028” (the “2028 Notes”) and a series of Debt Securities designated the “4.950% Notes due 2047” (the “2047 Notes” and, together with the 2028 Notes, the “Notes”).
SECTION 2.02    Limitations on Aggregate Principal Amount.

The aggregate principal amount of the 2028 Notes shall be initially limited to $600,000,000 and the aggregate principal amount of the 2047 Notes shall be initially limited to $500,000,000; provided that the Company may, without the consent of the Holders of Outstanding Notes of a series, increase the principal amount of the Notes Outstanding of such series by issuing additional Notes (“Additional Notes”) of such series in the future on the same terms and conditions (including, without limitation, the right to receive accrued and unpaid interest), except for differences in the issue price and issue date of the Additional Notes, and with the same CUSIP number as the Notes then Outstanding of such series; provided that such Additional Notes of a series are fungible with previously issued Notes of such series for U.S. federal income tax purposes.  No Additional Notes of a series may be issued if an Event of Default has occurred and is continuing with respect to the Notes of such series.  Any Additional Notes of a series shall rank equally and ratably with the Notes of such series then Outstanding and shall be treated as a single series for all purposes hereunder and under the Indenture.  From and after the issue date of any Additional Notes of a series, any reference herein to “Notes” shall include such Additional Notes of such series.
Except as provided in this Section, the Company shall not execute and the Trustee shall not authenticate or deliver Notes of a series in excess of the aggregate principal amount specified in the preceding paragraph.
Nothing contained in this Section 2.02 or elsewhere in this Supplemental Indenture, or in the Notes, is intended to or shall limit execution by the Company or authentication or delivery by the Trustee of the Notes under the circumstances contemplated in Section 3.05, 3.06, 4.06 and 12.06 of the Indenture.
SECTION 2.03    Registered Securities; Global Form.

The Notes shall be issuable and transferable in fully registered form, without coupons.  The Notes shall be issued in the form of one or more permanent Global Securities subject to any requirements of the Indenture for the issuance of definitive Notes in exchange therefor.  The Depositary for the Notes shall be The Depository Trust Company.  Beneficial interests in the Global Securities evidencing the Notes of a series shall not be exchangeable for Notes of such series in definitive form except as provided in Section 2.03 of the Indenture. 
SECTION 2.04    Forms and Terms of Notes.
The 2028 Notes shall be substantially in the form attached as Exhibit A and hereto and shall have the terms specified therein.  The 2047 Notes shall be substantially in the form attached as Exhibit B and hereto and shall have the terms specified therein.
SECTION 2.05    Registrar and Paying Agent.

The Trustee shall initially serve as Debt Security Registrar and Paying Agent for the Notes.
SECTION 2.06    Applicability of Certain Indenture Provisions.
The provisions of Article VI of the Indenture, including Section 6.06 thereof, shall be applicable to the Notes.
The provisions of Article XIII of the Indenture relating to defeasance and covenant defeasance shall be applicable to the Notes.

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ARTICLE III
MISCELLANEOUS PROVISIONS

SECTION 3.01    Ratification of Indenture.

Except as expressly modified or amended hereby, the Indenture continues in full force and effect and is in all respects confirmed and preserved.
SECTION 3.02    Governing Law.

This Supplemental Indenture and each Note shall be governed by and construed in accordance with the laws of the State of New York.  This Supplemental Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended, and shall, to the extent applicable, be governed by such provisions.
SECTION 3.03    Counterparts.

This 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. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.
SECTION 3.04    Recitals.

The recitals contained herein shall be taken as statements of the Company, and the Trustee assumes no responsibility for their correctness.  The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture.
[signature page follows]

3

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

By:    /s/ Kenneth M. Fisher                         
Name:  Kenneth M. Fisher
Title:    Executive Vice President and
 Chief Financial Officer
    
Attest:

By:    /s/ Kevin E. Haggard                         
Name:  Kevin E. Haggard
Title:    Vice President and Treasurer
WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Trustee

 
By:    /s/ Maddy Hughes                            
Name:  Maddy Hughes
Title:    Vice President

Signature Page to Seventh Supplemental Indenture

Exhibit A to
Seventh Supplemental Indenture
UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), 55 WATER STREET, NEW YORK, NEW YORK TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND SUCH SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS 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, SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
TRANSFERS OF THIS SECURITY SHALL BE LIMITED TO TRANSFERS, IN WHOLE BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE EXCEPT AS OTHERWISE PROVIDED IN THE INDENTURE REFERRED TO ON THE REVERSE SIDE OF THIS CERTIFICATE.
NOBLE ENERGY, INC.
3.850% Note Due 2028
REGISTERED                                    PRINCIPAL AMOUNT
No. ____                                        $________________
CUSIP NO. 655044 AP0
NOBLE ENERGY, INC., a Delaware corporation (herein referred to as the “Company” which term includes any successor entity under the Indenture herein referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, upon presentation, the principal sum of $________________ on January 15, 2028 (the “Stated Maturity Date”) and to pay interest thereon from August 15, 2017 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on January 15 and July 15 of each year (each, an “Interest Payment Date”), commencing January 15, 2018, at the rate of 3.850% per annum, until the principal hereof is paid or duly provided for.  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 Holder in whose name this Security (or one or more Predecessor Debt Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January 1 or July 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date at the office or agency of the Company maintained for such purpose; provided that such interest may be paid, at the Company’s option, by mailing a check to such Holder at its registered address.  Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may be paid to the Holder in whose name this Security (or one or more Predecessor Debt Securities) 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 Securities not less than ten days prior to such Special Record Date, or may be paid

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at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.  Interest will be computed on the basis of a 360-day year consisting of twelve 30‐day months.  The Company will pay, to the extent lawful, interest (including post-petition interest in any proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law) on overdue principal and interest at the rate per annum borne by this Security.
Payment of the principal of and interest on this Security will be made at the Corporate Trust Office of the Trustee in the City of Dallas, Texas or the office of the Trustee in The City of New York, New York, 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.  The Company, however, may pay principal and interest by check payable in such money.  At the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Debt Security Register; provided that, notwithstanding anything else contained herein, if this Security is a Global Security and is held in book-entry form through the facilities of the Depositary, payments on this Security will be made to the Depositary or its nominee in accordance with the arrangements then in effect between the Trustee and the Depositary.
In any case where any Interest Payment Date or Redemption Date or the Stated Maturity Date of this Security shall not be a Business Day, then the related payment of interest or principal and premium, if any, need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date or Redemption Date or on the Stated Maturity Date, and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or the Stated Maturity Date, as the case may be, to such Business Day.  For purposes of this Security, the term “Business Day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions or trust companies are generally authorized or required by law, regulation or executive order to close in The City of New York.
Reference is hereby made to the further provisions of this Security 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 by manual signature of one of its authorized signatories, this Security shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose.

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IN WITNESS WHEREOF, the Company has caused this instrument to be executed by one of its duly authorized officers.
Dated:  August 15, 2017
NOBLE ENERGY, INC.

By:    ______________________________        
Name:  Kenneth M. Fisher
Title:    Executive Vice President and Chief 
 Financial Officer
Attest:
By:    ______________________________
Name:  Kevin E. Haggard
Title:    Vice President and Treasurer

TRUSTEE’S CERTIFICATE OF AUTHENTICATION:
This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture.
Dated:  August 15, 2017
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
By:    ______________________________    
Name:  Maddy Hughes
Title:    Vice President

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[Reverse of Note]
NOBLE ENERGY, INC.
This Security is one of a duly authorized issue of Debt Securities of the Company designated as its “3.850% Notes due 2028” (herein called the “Securities”), initially limited in aggregate principal amount of $600,000,000 issued under an Indenture dated as of February 27, 2009, as amended and supplemented by the First Supplemental Indenture thereto dated as of February 27, 2009, the Second Supplemental Indenture thereto dated as of February 18, 2011, the Third Supplemental Indenture thereto dated as of December 8, 2011, the Fourth Supplemental Indenture thereto dated as of November 8, 2013, the Fifth Supplemental Indenture thereto dated as of November 7, 2014, the Sixth Supplemental Indenture thereto dated as of July 29, 2015 and the Seventh Supplemental Indenture thereto dated as of August 15, 2017 (as so amended and supplemented, and as hereafter amended and supplemented from time to time, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture with respect to the series of which this Debt Security is a part), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered.  To the extent that any provision of this Security conflicts with the express provisions of the Indenture, the provisions of this Security will govern and be controlling (to the extent permitted by law).  All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.
The Securities will be redeemable prior to the Stated Maturity Date at the Company’s option, in whole or in part at any time.  Prior to October 15, 2027 the Securities will be redeemable at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Securities to be redeemed, or (2) the sum of the present values of the remaining scheduled payments of principal of the Securities to be redeemed and interest thereon  that would be due after the Redemption Date if the Securities to be redeemed matured on the Par Call Date (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360‐day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus accrued and unpaid interest on the principal amount being redeemed up to but not including the Redemption Date.  On or after October 15, 2027, the Securities will be redeemable at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest on the principal amount being redeemed up to but not including the Redemption Date.
“Treasury Rate” means, with respect to any Redemption Date,
(i)    the yield, under the heading that represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption

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 “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue; or
(ii)    if the Treasury Rate cannot be determined pursuant to clause (i) because such release (or any successor release) is not published during the week preceding the calculation date, the rate per annum equal to the semi‐annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the Redemption Date.
“Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Securities (assuming, for this purpose, that such Securities matured on the Par Call Date).
“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company.
“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of three Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of five Reference Treasury Dealer Quotations obtained, or (ii) if the Company obtains fewer than five Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations obtained.
“Par Call Date” means October 15, 2027.
“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York time on the third Business Day preceding such Redemption Date.
“Reference Treasury Dealer” means each of Citigroup Global Markets Inc., J.P. Morgan Securities LLC, one nationally recognized investment banking firm that is a Primary Treasury Dealer (as defined below) specified from time to time by MUFG Securities Americas Inc. or their respective affiliates which are Primary Treasury Dealers and two other nationally recognized investment banking firms that are Primary Treasury Dealers specified from time to time by the Company, except that if any of the foregoing ceases to be a primary U.S. government securities dealer in The City of New York (a “Primary Treasury Dealer”), the Company shall be required to designate as a substitute another nationally recognized investment banking firm, or an affiliate thereof, that is a Primary Treasury Dealer. 
Notice of redemption will be sent to Holders of Securities, at least 30 but not more than 60 days prior to the Redemption Date, all as provided in the Indenture. 

A-5

In the event of redemption of this Security in part only, a new Security or Securities for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.
In connection with any redemption prior to October 15, 2027, the Company will calculate the Redemption Price on the basis of the Treasury Rate as of the third Business Day preceding the applicable Redemption Date and, prior to such Redemption Date, deliver to the Trustee an Officers’ Certificate setting forth the Redemption Price and showing the calculation thereof in reasonable detail, including the manner in which the Treasury Rate has been determined.
If an Event of Default with respect to the Securities shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner and with the effect provided in the Indenture.
The Indenture permits, with certain exceptions as provided therein, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of any series under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority of the aggregate principal amount of the Outstanding Debt Securities of such series.  The Indenture also contains provisions permitting the Holders of not less than a majority of the aggregate principal amount of the Outstanding Debt Securities of any series, on behalf of the Holders of all such securities of that series, to waive compliance by the Company with certain provisions of the Indenture and to waive certain past defaults under the Indenture with respect to such series and their consequences.  Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and other Securities issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.
No sinking fund will be established with respect to the Securities and the Securities shall not be subject to any sinking fund payments.
Articles VI and XIII of the Indenture shall be applicable in their entirety to the Securities.
The Indenture contains provisions for defeasance of (i) the entire indebtedness of the Company in respect of this Security and (ii) certain restrictive covenants and the related Events of Default, subject to compliance by the Company with certain conditions set forth in the Indenture.
No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security at the times, places and rate, and in the coin or currency, herein prescribed.
As provided in the Indenture and subject to certain limitations therein and herein set forth, the transfer of this Security is registrable in the Debt Security Register of the Company upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the 

A-6

Debt Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Securities, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
As provided in the Indenture and subject to certain limitations therein and herein set forth, this Security is exchangeable for a like aggregate principal amount of Securities of different authorized denominations but otherwise having the same terms and conditions, as requested by the Holder hereof surrendering the same.
The Securities are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.
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.
The registered Holder of this Security may be treated as its owner for all purposes.
Prior to due presentment of this Security 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 Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and none of the Company, the Trustee and any such agent shall be affected by notice to the contrary.
No recourse shall be had for the payment of the principal of or premium, if any, or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any past, present or future stockholder, employee, officer or director, as such, of the Company or of any successor, either directly or through the Company or any successor, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released.
The Securities shall be governed by and construed in accordance with the laws of the State of New York.
Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused “CUSIP” numbers to be printed on the Securities as a convenience to the Holders of such Securities.  No representation is made as to the correctness or accuracy of such CUSIP numbers as printed on the Securities, and reliance may be placed only on the other identification numbers printed hereon.

A-7

ASSIGNMENT FORM
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
______________________________________________________________________________
(Please Print or Type Name and Address Including Zip Code of Assignee)
the within Debt Security of Noble Energy, Inc. and hereby does irrevocably constitute and
appoint _____________________________________ Attorney to transfer said security on the
books of the within-named Corporation with full power of substitution in the premises.
______________________________________________________________________________
(Please Insert Social Security or Other Identifying Number of Assignee) Dated:

Dated:  _______________
                                                             
                                                                 
SIGNATURE GUARANTEE
Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of Wells Fargo Bank, National Association, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by Wells Fargo Bank, National Association in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934 as amended.
NOTICE:  The signature to this assignment must correspond with the name as it appears on the first page of the within Security in every particular, without alteration or enlargement of any change whatever.

A-8

Exhibit B to
Seventh Supplemental Indenture
UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), 55 WATER STREET, NEW YORK, NEW YORK TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND SUCH SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER NAME AS 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, SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
TRANSFERS OF THIS SECURITY SHALL BE LIMITED TO TRANSFERS, IN WHOLE BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE EXCEPT AS OTHERWISE PROVIDED IN THE INDENTURE REFERRED TO ON THE REVERSE SIDE OF THIS CERTIFICATE.
NOBLE ENERGY, INC.
4.950% Note Due 2047
REGISTERED                                    PRINCIPAL AMOUNT
No. ____                                        $________________
CUSIP NO. 655044 AN5
NOBLE ENERGY, INC., a Delaware corporation (herein referred to as the “Company” which term includes any successor entity under the Indenture herein referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, upon presentation, the principal sum of $________________ on August 15, 2047 (the “Stated Maturity Date”) and to pay interest thereon from August 15, 2017 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on February 15 and August 15 of each year (each, an “Interest Payment Date”), commencing February 15, 2018, at the rate of 4.950% per annum, until the principal hereof is paid or duly provided for.  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 Holder in whose name this Security (or one or more Predecessor Debt Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the February 1 or August 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date at the office or agency of the Company maintained for such purpose; provided that such interest may be paid, at the Company’s option, by mailing a check to such Holder at its registered address.  Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may be paid to the Holder in whose name this Security (or one or more Predecessor Debt Securities) 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 Securities not less than ten days prior to such Special Record Date, or may be paid

B-1

at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.  Interest will be computed on the basis of a 360-day year consisting of twelve 30‐day months.  The Company will pay, to the extent lawful, interest (including post-petition interest in any proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law) on overdue principal and interest at the rate per annum borne by this Security.
Payment of the principal of and interest on this Security will be made at the Corporate Trust Office of the Trustee in the City of Dallas, Texas or the office of the Trustee in The City of New York, New York, 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.  The Company, however, may pay principal and interest by check payable in such money.  At the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Debt Security Register; provided that, notwithstanding anything else contained herein, if this Security is a Global Security and is held in book-entry form through the facilities of the Depositary, payments on this Security will be made to the Depositary or its nominee in accordance with the arrangements then in effect between the Trustee and the Depositary.
In any case where any Interest Payment Date or Redemption Date or the Stated Maturity Date of this Security shall not be a Business Day, then the related payment of interest or principal and premium, if any, need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date or Redemption Date or on the Stated Maturity Date, and, if such payment is made or duly provided for on such Business Day, no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or the Stated Maturity Date, as the case may be, to such Business Day.  For purposes of this Security, the term “Business Day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions or trust companies are generally authorized or required by law, regulation or executive order to close in The City of New York.
Reference is hereby made to the further provisions of this Security 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 by manual signature of one of its authorized signatories, this Security shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose.

B-2

IN WITNESS WHEREOF, the Company has caused this instrument to be executed by one of its duly authorized officers.
Dated:  August 15, 2017
NOBLE ENERGY, INC.

By:    ______________________________        
Name:  Kenneth M. Fisher
Title:    Executive Vice President and Chief 
 Financial Officer
Attest:
By:    ______________________________
Name:  Kevin E. Haggard
Title:    Vice President and Treasurer

TRUSTEE’S CERTIFICATE OF AUTHENTICATION:
This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture.
Dated:  August 15, 2017
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
By:    ______________________________        
Name:  Maddy Hughes
Title:    Vice President

B-3

[Reverse of Note]
NOBLE ENERGY, INC.
This Security is one of a duly authorized issue of Debt Securities of the Company designated as its “4.950% Notes due 2047” (herein called the “Securities”), initially limited in aggregate principal amount of $500,000,000 issued under an Indenture dated as of February 27, 2009, as amended and supplemented by the First Supplemental Indenture thereto dated as of February 27, 2009, the Second Supplemental Indenture thereto dated as of February 18, 2011, the Third Supplemental Indenture thereto dated as of December 8, 2011, the Fourth Supplemental Indenture thereto dated as of November 8, 2013, the Fifth Supplemental Indenture thereto dated as of November 7, 2014, the Sixth Supplemental Indenture thereto dated as of July 29, 2015 and the Seventh Supplemental Indenture thereto dated as of August 15, 2017 (as so amended and supplemented, and as hereafter amended and supplemented from time to time, the “Indenture”), between the Company and Wells Fargo Bank, National Association, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture with respect to the series of which this Debt Security is a part), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered.  To the extent that any provision of this Security conflicts with the express provisions of the Indenture, the provisions of this Security will govern and be controlling (to the extent permitted by law).  All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.
The Securities will be redeemable prior to the Stated Maturity Date at the Company’s option, in whole or in part at any time.  Prior to February 15, 2047 the Securities will be redeemable at a Redemption Price equal to the greater of (1) 100% of the principal amount of the Securities to be redeemed, or (2) the sum of the present values of the remaining scheduled payments of principal of the Securities to be redeemed and interest thereon  that would be due after the Redemption Date if the Securities to be redeemed matured on the Par Call Date (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360‐day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus accrued and unpaid interest on the principal amount being redeemed up to but not including the Redemption Date.  On or after February 15, 2047, the Securities will be redeemable at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued and unpaid interest on the principal amount being redeemed up to but not including the Redemption Date.
“Treasury Rate” means, with respect to any Redemption Date,
(i)    the yield, under the heading that represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption 

B-4

“Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue; or
(ii)    if the Treasury Rate cannot be determined pursuant to clause (i) because such release (or any successor release) is not published during the week preceding the calculation date, the rate per annum equal to the semi‐annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for the Redemption Date.
“Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Securities to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Securities (assuming, for this purpose, that such Securities matured on the Par Call Date).
“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company.
“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of three Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of five Reference Treasury Dealer Quotations obtained, or (ii) if the Company obtains fewer than five Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations obtained.
“Par Call Date” means February 15, 2047.
“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m. New York time on the third Business Day preceding such Redemption Date.
“Reference Treasury Dealer” means each of Citigroup Global Markets Inc., J.P. Morgan Securities LLC, one nationally recognized investment banking firm that is a Primary Treasury Dealer (as defined below) specified from time to time by MUFG Securities Americas Inc. or their respective affiliates which are Primary Treasury Dealers and two other nationally recognized investment banking firms that are Primary Treasury Dealers specified from time to time by the Company, except that if any of the foregoing ceases to be a primary U.S. government securities dealer in The City of New York (a “Primary Treasury Dealer”), the Company shall be required to designate as a substitute another nationally recognized investment banking firm, or an affiliate thereof, that is a Primary Treasury Dealer. 
Notice of redemption will be sent to Holders of Securities, at least 30 but not more than 60 days prior to the Redemption Date, all as provided in the Indenture.

B-5

In the event of redemption of this Security in part only, a new Security or Securities for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof.
In connection with any redemption prior to February 15, 2047, the Company will calculate the Redemption Price on the basis of the Treasury Rate as of the third Business Day preceding the applicable Redemption Date and, prior to such Redemption Date, deliver to the Trustee an Officers’ Certificate setting forth the Redemption Price and showing the calculation thereof in reasonable detail, including the manner in which the Treasury Rate has been determined.
If an Event of Default with respect to the Securities shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner and with the effect provided in the Indenture.
The Indenture permits, with certain exceptions as provided therein, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of any series under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority of the aggregate principal amount of the Outstanding Debt Securities of such series.  The Indenture also contains provisions permitting the Holders of not less than a majority of the aggregate principal amount of the Outstanding Debt Securities of any series, on behalf of the Holders of all such securities of that series, to waive compliance by the Company with certain provisions of the Indenture and to waive certain past defaults under the Indenture with respect to such series and their consequences.  Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and other Securities issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.
No sinking fund will be established with respect to the Securities and the Securities shall not be subject to any sinking fund payments.
Articles VI and XIII of the Indenture shall be applicable in their entirety to the Securities.
The Indenture contains provisions for defeasance of (i) the entire indebtedness of the Company in respect of this Security and (ii) certain restrictive covenants and the related Events of Default, subject to compliance by the Company with certain conditions set forth in the Indenture.
No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security at the times, places and rate, and in the coin or currency, herein prescribed.
As provided in the Indenture and subject to certain limitations therein and herein set forth, the transfer of this Security is registrable in the Debt Security Register of the Company upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or 

B-6

accompanied by a written instrument of transfer in form satisfactory to the Company and the Debt Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Securities, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.
As provided in the Indenture and subject to certain limitations therein and herein set forth, this Security is exchangeable for a like aggregate principal amount of Securities of different authorized denominations but otherwise having the same terms and conditions, as requested by the Holder hereof surrendering the same.
The Securities are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.
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.
The registered Holder of this Security may be treated as its owner for all purposes.
Prior to due presentment of this Security 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 Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and none of the Company, the Trustee and any such agent shall be affected by notice to the contrary.
No recourse shall be had for the payment of the principal of or premium, if any, or the interest on this Security, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any past, present or future stockholder, employee, officer or director, as such, of the Company or of any successor, either directly or through the Company or any successor, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released.
The Securities shall be governed by and construed in accordance with the laws of the State of New York.
Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused “CUSIP” numbers to be printed on the Securities as a convenience to the Holders of such Securities.  No representation is made as to the correctness or accuracy of such CUSIP numbers as printed on the Securities, and reliance may be placed only on the other identification numbers printed hereon.

B-7

ASSIGNMENT FORM
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
______________________________________________________________________________
(Please Print or Type Name and Address Including Zip Code of Assignee)
the within Debt Security of Noble Energy, Inc. and hereby does irrevocably constitute and
appoint _____________________________________ Attorney to transfer said security on the
books of the within-named Corporation with full power of substitution in the premises.
______________________________________________________________________________
(Please Insert Social Security or Other Identifying Number of Assignee) Dated:

Dated:  _______________
                                                             
                                                             
SIGNATURE GUARANTEE

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of Wells Fargo Bank, National Association, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by Wells Fargo Bank, National Association in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934 as amended.
NOTICE:  The signature to this assignment must correspond with the name as it appears on the first page of the within Security in every particular, without alteration or enlargement of any change whatever.

B-8Exhibit

Exhibit 10.8

BRIGHTHOUSE SERVICES, LLC AUXILIARY SAVINGS PLAN
(Effective January 1, 2017)

    

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BRIGHTHOUSE SERVICES, LLC AUXILIARY SAVINGS PLAN
(Effective January 1, 2017)

Article 1 - Purpose of Plan and Construction
The purpose of this Plan is to provide retirement benefits on behalf of employees and their Beneficiaries whose Company matching and profit sharing contributions under the Brighthouse Services, LLC Savings Plan and Trust (“BSP Plan”) are reduced or eliminated solely because of the application of the limitations of (i) § 415(c) of the Internal Revenue Code of 1986, as amended (the “Code”), (ii) § 40l(a)(l7) of the Code, or (iii) § 1.415(c)-2(c) of the Income Tax Regulations.  This Plan is intended to comply with the Legal Deferral Requirements, and shall be interpreted and administered consistent with that intent.
Article 2 - Definitions
2.1.    “Affiliated Company” means any corporation, partnership, joint venture or other business entity which is considered to be a single employer with the Company under § 414(b) or (c) of the Code.
2.2.    “Average Accumulated Elective Deferral Percentage” means the percentage which is equal to the Participant’s accumulated elective deferral amount divided by either the limit of § 401(a) (17) or such Participant’s Compensation, whichever is lower.  
2.3.    “Beneficiary” means one or more persons designated by a Participant or otherwise determined under § 3.7 to receive that portion of the Participant’s vested account balance which has not been distributed as a result of his/her death.
2.4.    “Company” means Brighthouse Services, LLC or any successor corporation thereto.
2.5    “Compensation” means all amounts as defined in the BSP Plan, except that “Compensation” for purposes of this plan shall not be limited by § 401(a)(17) of the Code and, for the avoidance of doubt, shall include pre-tax voluntary deferrals to any Brighthouse Services, LLC voluntary deferred compensation plan.  This definition is intended to specify the exclusive Compensation that will be considered under this Plan.  
Notwithstanding any other provision in this Plan or preceding language of this definition; in no event will amounts paid: in settlement, as the result of an arbitration award, or judgment that is the result of any type of claim against the Company or its Affiliates be considered Compensation under this Plan.   
2.6.    “Disability” means when a Participant continues to be disabled for twenty-four months on company records and is terminated as an employee as per company policy.   . 
2.7.     “Forfeited” means Company contributions on behalf of a Participant will not be payable. 
2.8.     “Legal Deferral Requirements” means requirements under law to achieve deferral of income taxation, including but not limited to § 409A of the Code and any regulations promulgated thereunder. 

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2.9.     “Participant” means each participant in the BSP Plan who has elected to make before-tax salary deferral contributions or Roth 40l(k) contributions to the BSP Plan with respect to one or more payroll periods during the Plan Year and whose Company matching and profit sharing contributions under the BSP Plan during any payroll period for which such before-tax salary deferral contributions or Roth 401(k) contributions election is in effect are reduced or eliminated because of the application of the limitations of (i) § 415 of the Code, (ii) § 40l(a)(l7) of the Code, or (iii) § 1.415(c)-2(c) of the Income Tax Regulations, shall be a Participant under this Plan.
2.10.     “Plan” means the Brighthouse Services, LLC Auxiliary Savings Plan.
2.11.     “Plan Administrator” means the Plan Administrator appointed by the Chief Human Resource officer of Brighthouse Services, LLC including any person to whom such office or specific administrative rights have been delegated.
2.12.     “Plan Year” means the calendar year. 
2.13.    “Termination of Employment” means the earlier of death or other termination of employment provided that the termination of employment qualifies as a separation from service as defined within the meaning § 409A(a)(2)(A)(i) of Code and Treasury Regulation § 1.409A-1(h)(1), or Disability.  
Article 3 - Benefits, Vesting, Investment and Distributions
3.1.    Company Contributions.
(a)    In General.  For each Plan Year, the Company shall make contributions to this Plan, as described in subsections (b) and (c), on behalf of each Participant, the amount of Company contributions comparable to the amount of Company Profit Sharing Contributions and Company Matching Contributions that would have been made to the BSP Plan had the limitations of §§ 401(a)(17) and/or 415(c) of the Code and § 1.415(c)-2(c) of the Income Tax Regulations not applied to the Participant’s account under the BSP Plan, subject to subsection (d).  Notwithstanding any other provision in this Plan or preceding language of this subsection 3.1; in no event will amounts paid: in settlement, as the result of an arbitration award, or judgment that is the result of any type of claim against the Company or its Affiliates be considered Compensation or eligible for contributions under this Plan.
(b)    Company Matching Contribution.  On behalf of an eligible Participant, the Company shall credit to his or her account an amount equal to the Average Accumulated Elective Deferral Percentage, but not in excess of six percentage (6%), of such Participant’s Compensation during the Plan Year in excess of the applicable annual limits under Code of §§ 401(a) (17) and/or 415(c), as adjusted from time to time. 
(c)    Company Profit Sharing Contribution.  On behalf of an eligible Participant, the Company shall credit to his or her account an equal to three percent (3%) of such Participant’s Compensation during the Plan Year in excess of the applicable annual limits under Code §§ 401(a) (17) and/or 415(c), as adjusted from time to time, without regard to any amounts deferred under this Plan.  
 (d)    Special Contributions.  Company Matching Contributions and Profit Sharing Contributions, as set forth in subsections (b) and (c), respectively, are made to the Plan on behalf of certain Participants to restitute the Company contributions that would have been made to their MetLife Auxiliary Savings and Investment Plan account for the deferral election made in 2015 under the legacy MetLife Leadership Deferred 

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Compensation Plan for compensation payable in 2017.  A list of the Participants and the restitution amount contributed on behalf of each Participant are provided in Appendix A.
3.2.    Vesting of Company Contributions.  Company contributions under this Plan shall vest in accordance with the vesting schedule applicable to Company Profit Sharing Contributions and Company Matching Contributions under the BSP Plan.  Any Company contributions that do not vest pursuant to the terms of the BSP Plan shall be Forfeited, except as provided under Article 10. 
3.3.    Elections and Tracking of Investment Performance.  Subject to the Company’s consent and sole discretion, a Participant may elect to hypothetically make an investment allocation of future Company contributions as well as existing balances.  The investment allocation for this Plan shall track the performance of one or more of the funds under the BSP Plan, as selected by the Participant under this Plan.  Thus, the Participant’s account balance under this Plan shall be adjusted for income, gains and losses in the same manner as if such Participant had directed the investment of his or her account balance among one or more of the funds under the BSP Plan.  The terms, conditions and procedures under which a Participant may elect to hypothetically make an investment allocation of future contributions and existing balances shall be subject to the same rules and restrictions that apply under the BSP Plan.   If a Participant fails to specify the investment allocation of contributions to this Plan, then earnings, gains and/or losses on such contributions shall be determined using the returns from the BSP Plan qualified default investment alternative until changed by the Participant.   Notwithstanding any provision to the contrary in this Plan, the Plan Administrator has the ability to modify the hypothetical investments in a manner that differs from the investment options available under the BSP Plan. 
3.4.     Timing and Mode of Payment.  
(a)    Timing and Mode of Payment.  The Participant shall receive a distribution of his or her vested account balance under this Plan as a single lump sum as soon as administratively practicable after a Participant’s Termination of Employment.  All payments under this Plan shall be made in cash, subject to subsection (b). 
(b)      Specified Employees.  Each Year the Plan must identify individuals who are “Specified Employees” as that term is defined under 409A and the treasury regulations thereunder.  The determination of who is a Specified Employee will be based on taxable compensation (as shown in Box 1 of each Participant’s W-2) paid during the 12-month period ending September 30th of each calendar year.  Therefore, September 30th of each year will serve as the Specified Employee identification date for the Plan.  The list of Specified Employees generated on September 30th of each year will be effective from January 1st through December 31st of each subsequent Plan year.  Any Participant identified as a Specified Employee on the applicable identification date, whose benefit is payable due to a separation from service as defined under Code Section 409A and the applicable Treasury Regulations, shall not have his/her 409A benefits paid under this Plan earlier than six months following his/her separation from service.
3.5.    In-Service Withdrawals and Loans Prohibited.  No Participant benefits under this Plan will be eligible for distribution as an in-service withdrawal by a Participant or as a loan to any Participant.
3.6.    Distributions after Participant’s Death.  In the event of the Participant’s death, a single sum, equal to the Participant’s accrued, vested benefit shall be paid to the Participant’s Beneficiary (determined in accordance with § 3.7) as soon as administratively practicable after receipt by the Plan Administrator of notification of the Participant’s death.  If the Participant’s designated Beneficiary has not survived the 

4

Participant, or the Participant has no designated Beneficiary for purposes of the Plan, such lump sum payment shall be made to the Participant’s estate.
3.7.    Beneficiary.  The Plan Administrator shall prescribe the form by which each Participant may designate a beneficiary (who may be named contingently or successively, and among whom payments received under the Plan may be split as indicated by the individual) for purposes of receiving payment of a Participant’s benefit under the Plan after the death of the Participant.  Each beneficiary designation will be effective only upon its receipt by the Plan Administrator and shall revoke all prior beneficiary designations by that individual related to the Plan.  After receipt, the change shall relate back and take effect as of the date the Participant signed written notice of the change whether or not the Participant is living at the time of receipt, but without prejudice to the Plan Administrator on account of any payment made before receipt of the change.  Generally, the Participant’s Beneficiary shall be the beneficiary designated by the Participant under the BSP Plan unless the Participant files a separate beneficiary designation under this Plan.  If there is more than one Beneficiary and the beneficiary designation does not specify the percentage of the Participant’s benefit to be paid to each such Beneficiary, each Beneficiary shall share equally in the benefits under the Plan.  
3.8.    No Duplication of Benefits.  Notwithstanding any provision in this Plan to the contrary, no similar benefit that is paid under this Plan shall be paid under any other deferred compensation plan(s) created by the Company or any Affiliated Company.
3.9.    Right of Offset.  The Company, at any time, may offset against any amounts as they become due and payable under the Plan, any amounts due from a Participant to the Company or any Affiliated Company regardless of the source of such debt or the circumstances under which it arose.  If the Plan pays any benefits to a Participant while the Participant who owes a debt to the Company or an Affiliated Company, such payment by the Plan is not intended to waive the Company’s or any Affiliated Company’s right to offset against a Participant’s future benefits under the Plan and shall not be deemed a waiver of such right.  
Article 4 - No Guarantee of Employment; No Limitation on Principle Action
Nothing in the Plan shall interfere with or limit the right of the Company or an Affiliated Company or person to establish, alter, amend, suspend, revise, interpret, terminate or discontinue the terms and conditions of employment of any individual, including but not limited to compensation or benefits, or to terminate employment of any individual, nor confer on any individual the right to continue employment of any entity or person.  Nothing in this Plan shall limit the right of any entity or person to establish alter, amend, suspend, revise, interpret, terminate or discontinue any other compensation or benefit plan.  No Compensation shall be treated as compensation for purposes of a Participant’s right under any other plan, policy or program, except as stated or provided in such plan, policy or program.  Nothing in the Plan shall be construed to limit, impair, or otherwise affect the right of any entity to make adjustments, reorganizations, or changes to its capital or business structure, or to merge, consolidate, dissolve, liquidate, sell, transfer all or any part of its business or assets.
Article 5 - Unfunded Plan
The Plan and the liabilities created hereunder are completely unfunded.  The payment of Participant benefits is the unsecured obligation of the Company and any successor thereto, and is not the obligation, debt, or liability or any other entity or party.  Any documentation regarding the Plan and the Participant’s benefits are for recordkeeping purposes only and do not create any right, property, security, or interest in 

5

any assets of the Company or any other party.  A Participant’s benefits under this Plan are subject to the claims of the general creditors of the Company.  This Plan is entirely separate from the BSP Plan and participation in this Plan gives a Participant no right to any funds or assets of the BSP Plan.
Article 6 - Nontransferability of Participant’s Interest
6.1.    Nontransferability.  Except to the extent provided in § 6.2, prior to actual payment, Participant shall not have any power or right to receive advances on any payments to be made hereunder or to alienate, dispose of, transfer, assign, mortgage, commute or otherwise encumber any of the benefits payable under the Plan, nor shall such benefits be subject to seizure for the payment of any debts or judgments, or be transferable by operation of law in the event of bankruptcy, insolvency or otherwise.
6.2.    Domestic Relation Orders.  The Plan Administrator will distribute, designate or otherwise recognize the attachment of any property of any portion of a Participant’s benefits under the Plan in favor of the Participant’s spouse, former spouse or dependents to the extent that this Plan and the portion of the benefit awarded to an alternate payee is mandated by the terms of a domestic relations order, as defined in § 414(p)(1)(B) of the Code.  The Plan Administrator has sole and absolute discretion to determine whether an order is a qualifying domestic relations order.
Article 7 - Effect of Taxes
Payments under this Plan will be made after the withholding of any Federal, state or local income, employment or other taxes legally obligated to be withheld, as determined by the Plan Administrator in its sole discretion.  All tax liabilities arising out of deferrals under this Plan shall be the sole obligation of the Participant or his/her Beneficiary, including but not limited to any tax liabilities arising out of the Legal Deferral Requirements.  
The Company shall have the ability to withhold any tax amounts (whether income, employment, estate or other tax) it determines, in its discretion, is due and owing from the Participant to the Company, whether the tax obligation arose on account of the benefit under this Plan or arose due to other wages payable by the Company to the Participant. If, however, tax is determined, in the discretion of the Company and in accordance with any process the Plan Administrator approves for the determination and collection of taxes, to be due and owing from the Participant, at a time other than when amounts are due to be paid from this Plan, then the Company will have the discretion to reduce the accrued benefit or account balance of the Participant in this Plan by the amount of any tax that it determines is due and owing.
Article 8 - Administration of the Plan
8.1.    Plan Administrator’s Interpretation Binding.  The Plan Administrator has absolute discretion to interpret and administer this Plan.    The Plan Administrator is empowered to take all actions it deems appropriate in administering this Plan.  The Plan Administrator’s final interpretation of the meaning or application of any of the Plan provisions shall be binding and conclusive.  However, once a Change of Control (as defined in Article 11) has occurred, this Article 8 shall no longer apply to differences of opinion between the Plan Administrator and a Participant regarding the application of Article 11 of this Plan to a Participant or with regard to any rights or benefits protected under Article 11 of this Plan or otherwise accrued prior to the Change of Control including the vesting thereof.

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8.2.    Claims and Review Procedure; Limitations of Time for Submitting Claims and Suits Challenging Denial of Claims. 
(a)    Claims and Review Procedure.  Claims for benefits or allegations of a failure to administer the Plan in accordance with its terms and/or ERISA and appeals of denied claims under the Plan shall be administered in accordance with § 503 of ERISA, the regulations thereunder (and any other law that amends, supplements or supersedes said § of ERISA), and the procedures adopted by the Plan Administrator, as appropriate which are incorporated herein by reference.  The Plan shall provide adequate notice to any claimant whose claim for benefits under the Plan has been denied, setting forth the reasons for such denial, and afford a reasonable opportunity to such claimant for a full and fair review by the Plan Administrator of the decision denying the claim.  Benefits will be paid under the Plan only if the Plan Administrator determines in its sole discretion that the applicant is entitled to them.
(b)    Limitations of Time for Submitting Claims and Suits Challenging Denial of Claims.  No suit to recover benefits under this Plan or to allege that the Plan was not administered in accordance with its terms and/or the Internal Revenue Code or ERISA shall be brought more than six months following the exhaustion of the claims and review procedures set forth in subsection (a).  If a Participant receives a distribution from the Plan, no claim for benefits under the Plan’s claims and review procedures described in subsection (a) shall be made regarding the calculation of the amount of the benefits more than six months following the date on which the Participant received such distribution. 
Article 9 - Governing Law
To the extent not inconsistent with Federal law, the validity of the Plan and its provisions shall be construed and governed in accordance with the laws of the State of North Carolina.
Article 10 - Amendment and Termination of Plan
Except to the extent otherwise required by law including the Legal Deferral Requirements, or limited by Article 11, the Plan Administrator may amend, modify, suspend or terminate the Plan at any time in its sole discretion.  However, any such amendment or termination will not adversely affect the benefit entitlements of any employee who is a Participant in the BSP Plan to the extent of the account balance under this Plan prior to the time of such amendment or any interest of a Participant existing under the Plan prior to the execution of such amendment.  Any amendment or group of amendments made effective on the same date, which would increase or decrease the annual cost of Plan benefits for Participants by ten million dollars or more in the aggregate, as determined in good faith by the Plan Administrator, shall take effect only after the action is authorized or ratified by the Board of Directors of Brighthouse Services, LLC. 
Article 11 - Change of Control
At such time as Brighthouse Services, LLC adopts a voluntary deferred compensation plan, this plan will incorporate by reference the definition of “Change of Control” from that voluntary deferred compensation plan.
11.1      Accelerated Vesting on Change of Control.  Notwithstanding any other provision of this Plan at the time that a Change of Control occurs, all Participants shall be fully vested in all contributions plus earnings (which may be positive or negative) accrued under this plan.  

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11.2     Limitations on Amendment After a Change of Control.    Notwithstanding any other provision of this Plan, no amendments can be made to this Plan after a Change of Control that would, in any way, decrease the value of the Plan benefit accrued to any Participant as of the date the Change in Control occurred.  Amendments to hypothetical investment options under this Plan after a Change of Control cannot eliminate all hypothetical accounts that have a fixed rate of return.  Furthermore, after a Change of Control, the hypothetical crediting rate under any such fixed hypothetical investment account may not fall below zero.  Amendments to the timing and form of distributions available under this Plan made after a Change of Control may not eliminate the lump sum distribution option and may not further defer the time of payment.  If, after a change in Control, an Officer of the Company and/or any Affiliate claims constructive Termination of Employment, Article 3.4(a) of this Plan will be interpreted to allow distribution as soon as the Participant meets the requirements of a “separation from service” as defined within the meaning § 409A(a)(2)(A)(i) of Code and Treasury Regulation § 1.409A-1(h)(1).
Article 12 - Term of the Plan
The Plan shall be effective on and after January 1, 2017 and shall continue in effect unless and until it is terminated pursuant to its terms.
Article 13 - Entire Plan
The Plan document is the entire expression of the Plan, and no other oral or written communication, other than documents authorized under the Plan and fulfilling its express terms, shall determine the terms of the Plan or the terms of any agreement between a Participant and the Company with regard to the Plan or benefits thereunder.  There are no third party beneficiaries to the Plan, other than Participants’ Beneficiaries designated under the terms of the Plan.

8

IN WITNESS WHEREOF, the Company has caused this Plan to be executed in its name and behalf this 3rd day of April 2017, by its officer thereunto duly authorized.

BRIGHTHOUSE SERVICES, LLC

/s/ Mark Davis                
Mark Davis, Plan Administrator    
Attest:
/s/ Elyse Moore        

9

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