Document:

Registration Rights Agreement

 Exhibit 4.3 
 EXECUTION VERSION 
 $150,000,000 

HECKMANN CORPORATION 
 9.875% Senior Notes due 2018 
 REGISTRATION RIGHTS AGREEMENT

 November 5, 2012 
 JEFFERIES & COMPANY, INC. 
 WELLS FARGO SECURITIES, LLC 

CREDIT SUISSE SECURITIES (USA) LLC 
 As
Representatives of the 
 Initial Purchasers listed in 
 Schedule I hereto 
 c/o Jefferies & Company, Inc. 

520 Madison Avenue 
 New York, New York 10022

 c/o Wells Fargo Securities, LLC 

301 S. College St., 6th Floor 
 Charlotte, NC
28202 
 c/o Credit Suisse Securities (USA) LLC 
 Eleven Madison Avenue, 
 New York, New York 10010 

Ladies and Gentlemen: 
 Rough
Rider Escrow Inc., a Delaware corporation (the “Stage I Issuer”) and a wholly-owned unrestricted subsidiary of Heckmann Corporation (“Heckmann” or the “Company”), is issuing and selling to the
initial purchasers listed in Schedule I hereto (the “Initial Purchasers”), for whom Jefferies & Company, Inc., Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC are acting as representatives (the
“Representatives”), upon the terms set forth in the Purchase Agreement, dated October 26, 2012, by and among the Stage I Issuer, the Company, the guarantors named therein and the Initial Purchasers (the “Purchase
Agreement”) (which, upon consummation of the Merger, will have been duly and validly authorized by each of Acquisition Co. and its domestic subsidiaries), $150,000,000 in aggregate principal amount of its 9.875% Senior Notes due 2018 (each,
a “Stage I Note” and collectively, the “Stage I Notes”). 
 The Stage I Notes will be issued
pursuant to an indenture (the “Stage I Indenture”), dated November as of 5, 2012, by and between the Stage I Issuer and The Bank of New York Mellon Trust Company, N.A., as trustee. 

Contemporaneously with the consummation of the Merger, the Stage I Issuer will merge with and into Heckmann, at which time Heckmann will
assume the obligations of the Stage I Issuer under the Stage I Notes and become the Stage I Issuer under the Stage I Indenture. Heckmann, as the Stage I Issuer, will then redeem all of the Stage I Notes by issuing in exchange therefor (the
“Mandatory Exchange”) its 9.875% Senior Notes due 2018 (the “Notes”) to be issued under the Indenture in an aggregate principal amount equal to the aggregate principal amount of such Stage I Notes. 

 As an inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company
and the guarantors listed in the signature pages hereto agree with the Initial Purchasers, for the benefit of the Holders (as defined below) of the Notes (including, without limitation, the Initial Purchasers), as follows: 

1. Effectiveness of this Agreement. This Agreement shall automatically become effective and binding upon the parties hereto
contemporaneously with the completion of the Mandatory Exchange in accordance with the applicable terms set forth the Stage I Indenture. If the Mandatory Exchange is not completed in accordance with the applicable terms set forth in the Stage I
Indenture, this Agreement will automatically terminate and be of no further force or effect. 
 2. Definitions 

Capitalized terms that are used herein without definition and are defined in the Purchase Agreement shall have the respective meanings
ascribed to them in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 

Acquisition Co.: Rough Rider Acquisition, LLC, a Delaware limited liability company into which Badlands Power Fuels, LLC (formerly
Badlands Energy, LLC), a Delaware limited liability company, will merge pursuant to the Merger. Acquisition Co. will continue as the surviving company following the Merger. 
 Advice: See Section 6(w) hereof. 
 Agreement: This Registration
Rights Agreement, dated as of November 5, 2012, between the Company, the guarantors party hereto (including, upon execution and delivery of the joinder agreement attached hereto as Exhibit A, Acquisition Co. and its domestic
subsidiaries) and the Initial Purchasers. 
 Applicable Period: See Section 3(e) hereof. 

Business Day: A day that is not a Saturday, a Sunday or a day on which banking institutions in the City of New York are authorized
or required by law or executive order to be closed. 
 Company: See the introductory paragraphs of this Agreement.

 Day: Unless otherwise expressly provided, a calendar day. 

Effectiveness Date: The 365th day after the Mandatory Exchange Date. 

Effectiveness Period: See Section 4(a) hereof. 
 Event Date: See Section 5(b) hereof. 
 Exchange Act: The
Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 Exchange
Notes: Senior Notes due 2018 of the Company, identical in all material respects to the Notes, including the guarantees endorsed thereon, except for references to series and restrictive legends. 

Exchange Offer: See Section 3(a) hereof. 
 Exchange Registration Statement: See Section 3(a) hereof. 

  
 2 

 Existing Heckmann Notes: $250,000,000 aggregate principal amount of Heckmann’s
9.875% Senior Notes due 2018 that were issued on April 10, 2012 under the Indenture and subsequently registered on Form S-4 under the Securities Act. 
 Filing Date: The 180th day after the Mandatory Exchange Date. 

FINRA: Financial Industry Regulatory Authority, Inc. 
 Guarantor: Each subsidiary of the Company that guarantees the obligations of the Company under the Notes and Indenture, including, for the avoidance of doubt, Acquisition Co. and its domestic
subsidiaries following the consummation of the Merger. 
 Heckmann: See the introductory paragraphs of this Agreement.

 Holder: Any beneficial holder of Registrable Notes. 

Indemnified Party: See Section 8(c) hereof. 
 Indemnifying Party: See Section 8(c) hereof. 
 Indenture: The
Indenture, dated as of April 10, 2012, among the Company, the guarantors named therein and The Bank of New York Mellon Trust Company, N.A., as trustee, pursuant to which the Existing Heckmann Notes were issued and the Notes are to be issued in
connection with the Mandatory Exchange, as amended or supplemented from time to time in accordance with the terms thereof. 

Initial Purchasers: See the introductory paragraphs of this Agreement. 

Initial Shelf Registration: See Section 4(a) hereof. 

Inspectors: See Section 6(o) hereof. 
 Losses: See Section 8(a) hereof. 
 Mandatory Exchange: See the
introductory paragraphs of this Agreement. 
 Mandatory Exchange Date: The date on which the Mandatory Exchange is
completed. 
 Maximum Contribution Amount: See Section 8(d) hereof. 

Notes: See the introductory paragraphs of this Agreement. 

Participating Broker-Dealer: See Section 3(e) hereof. 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm, government or agency or political subdivision thereof, or other legal entity. 

Private Exchange: See Section 3(f) hereof. 
 Private Exchange Notes: See Section 3(f) hereof. 
 Prospectus:
The prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective

  
 3 

 
registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any
portion of the Registrable Notes covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by
reference in such Prospectus. 
 Purchase Agreement: See the introductory paragraphs of this Agreement. 

Records: See Section 6(o) hereof. 
 Registrable Notes: Notes and Private Exchange Notes; provided, however, that a Note or Private Exchange Note, as applicable, shall cease to be a Registrable Note upon the earliest to occur
of the following: (i) in the circumstances contemplated by Section 3(a) hereof, the Note has been exchanged by a Person other than a Participating Broker-Dealer for an Exchange Note in an Exchange Offer as contemplated in Section 3(a)
hereof; (ii) following the exchange by a Participating Broker-Dealer in an Exchange Offer of a Note for an Exchange Note, the date on which such Exchange Note is sold to a purchaser who receives from such Participating Broker-Dealer on or prior
to the date of such sale a copy of the Prospectus contained in the Exchange Registration Statement; (iii) in the circumstances contemplated by Section 4 hereof, a Shelf Registration registering such Note or Private Exchange Note, as
applicable, under the Securities Act has been declared or becomes effective and such Note or Private Exchange Note, as applicable, has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such
effective Shelf Registration; or (iv) such Note or Private Exchange Note, as applicable, is actually sold by the holder thereof pursuant to Rule 144 under circumstances in which any legend borne by such Note or Private Exchange Note, as
applicable, relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the Company or pursuant to the Indenture; provided, however, that a Note will not cease to be a Registrable Note for
purposes of an Exchange Offer by virtue of this clause (iv). 
 Registration Statement: Any registration statement of the
Company and the Guarantors filed with the SEC under the Securities Act (including, but not limited to, the Exchange Registration Statement, the Shelf Registration and any subsequent Shelf Registration) that covers any of the Registrable Notes
pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be
incorporated by reference in such registration statement. 
 Representatives: See the introductory paragraphs of this
Agreement. 
 Rule 144: Rule 144 promulgated under the Securities Act, as such Rule may be amended from time to time, or
any similar rule (other than Rule 144A) or regulation hereafter adopted by the SEC providing for offers and sales of securities made in compliance therewith resulting in offers and sales by subsequent holders that are not affiliates of an issuer or
such securities being free of the registration and prospectus delivery requirements of the Securities Act. 
 Rule 144A:
Rule 144A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144) or regulation hereafter adopted by the SEC. 

Rule 415: Rule 415 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the SEC. 
 Rule 430A: Rule 430A promulgated under the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 SEC: The Securities and
Exchange Commission. 

  
 4 

 Securities: The Notes, the Exchange Notes and the Private Exchange Notes. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Shelf Notice: See Section 3(j) hereof. 
 Shelf Registration: See Section 4(b) hereof. 
 Special
Interest: See Section 5(a) hereof. 
 Stage I Indenture: See the introductory paragraphs of this Agreement.

 Stage I Issuer: See the introductory paragraphs of this Agreement. 

Stage I Notes: See the introductory paragraphs of this Agreement. 

Subsequent Shelf Registration: See Section 4(b) hereof. 

Suspension Period: See Section 6(n) hereof. 
 TIA: The Trust Indenture Act of 1939, as amended. 
 Trustee: The
trustee under the Indenture and, if existent, the trustee under any indenture governing the Exchange Notes and Private Exchange Notes (if any). 
 Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an underwriter for reoffering to the public. 

3. Exchange Offer 
  

	 	(a)	Unless the Exchange Offer would not be permitted by applicable laws or a policy of the SEC, the Company shall (and shall cause each Guarantor to) (i) prepare and
file with the SEC promptly after the date hereof, but in no event later than the Filing Date, a registration statement (the “Exchange Registration Statement”) on an appropriate form under the Securities Act with respect to an offer
(the “Exchange Offer”) to the Holders of Notes to issue and deliver to such Holders, in exchange for the Notes, a like principal amount of Exchange Notes, (ii) use all commercially reasonable efforts to cause the Exchange
Registration Statement to be declared effective by the SEC on or prior to the Effectiveness Date, (iii) use all commercially reasonable efforts to keep the Exchange Registration Statement effective until the consummation of the Exchange Offer
in accordance with its terms, and (iv) commence the Exchange Offer and use all commercially reasonable efforts to issue on or prior to 30 Business Days after the date on which the Exchange Registration Statement is declared effective, Exchange
Notes in exchange for all Notes tendered prior thereto in the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate applicable law or any applicable interpretation of the staff
of the SEC. 

  

	 	(b)	The Exchange Notes shall be issued under, and entitled to the benefits of, the Indenture or a trust indenture that is identical to the Indenture (other than such
changes as are necessary to comply with any requirements of the SEC to effect or maintain the qualifications thereof under the TIA). 

  
 5 

	 	(c)	Interest on the Exchange Notes and Private Exchange Notes will accrue from the last interest payment due date on which interest was paid on the Notes surrendered in
exchange therefor or, if no interest has been paid on the Notes, from and including October 15, 2012. Each Exchange Note and Private Exchange Note shall bear interest at the rate set forth thereon; provided, that interest with respect to
the period prior to the issuance thereof shall accrue at the rate or rates borne by the Notes from time to time during such period. 

  

	 	(d)	The Company may require each Holder as a condition to participation in the Exchange Offer to represent (i) that any Exchange Notes received by it will be acquired
in the ordinary course of its business, (ii) that at the time of the commencement and consummation of the Exchange Offer such Holder has not entered into any arrangement or understanding with any Person to participate in the distribution
(within the meaning of the Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act, (iii) that if such Holder is an “affiliate” of the Company within the meaning of Rule 405 of the Securities Act, it
will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable to it, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the
distribution of the Notes and (v) if such Holder is a Participating Broker-Dealer, that it will deliver a Prospectus in connection with any resale of the Exchange Notes. 

 

	 	(e)	The Company shall (and shall cause each Guarantor to) include within the Prospectus contained in the Exchange Registration Statement a section entitled “Plan of
Distribution” reasonably acceptable to the Initial Purchasers which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential “underwriter” status of any
broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer for its own account in exchange for Notes that were acquired by it as a result of
market-making or other trading activity (a “Participating Broker-Dealer”), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies, in the judgment of the Initial
Purchasers, represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also allow, to the extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Persons
subject to the prospectus delivery requirements of the Securities Act, including, to the extent so permitted, all Participating Broker-Dealers, and include a statement describing the manner in which Participating Broker-Dealers may resell the
Exchange Notes. The Company shall use all commercially reasonable efforts to keep the Exchange Registration Statement effective and to amend and supplement the Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered
by all Persons subject to the prospectus delivery requirements of the Securities Act for such period of time as such Persons must comply with such requirements in order to resell the Exchange Notes (the “Applicable Period”).

  

	 	(f)	If, upon consummation of the Exchange Offer, the Initial Purchasers hold any Notes acquired by them and having the status of an unsold allotment in the initial
distribution, the Company (upon the written request from the Initial Purchasers) shall, simultaneously with the delivery of the Exchange Notes in the Exchange Offer, issue and deliver to the Initial Purchasers, in exchange (the “Private
Exchange”) for the Notes held by the Initial Purchasers, a like principal amount of Notes that are identical to the Exchange Notes except for the existence of restrictions on transfer thereof under the Securities Act and securities laws of
the several states of the United States (the “Private Exchange Notes”) (and which are issued pursuant to the same indenture as the Exchange Notes). The Private Exchange Notes shall bear the same CUSIP and ISIN numbers as the
Exchange Notes. 

  
 6 

	 	(g)	In connection with the Exchange Offer, the Company shall (and shall cause each Guarantor to): 

 

	 	(i)	mail to each Holder a copy of the Prospectus forming part of the Exchange Registration Statement, together with an appropriate letter of transmittal that is an exhibit
to the Exchange Offer Registration Statement, and any related documents; 

  

	 	(ii)	keep the Exchange Offer open for not less than 30 days after the date notice thereof is mailed to the Holders (or longer if required by applicable law)

  

	 	(iii)	utilize the services of a depository for the Exchange Offer with an address in the Borough of Manhattan, the City of New York, which may be the Trustee or an affiliate
thereof; 

  

	 	(iv)	permit Holders to withdraw tendered Registrable Notes at any time prior to the close of business, New York City time, on the last Business Day on which the Exchange
Offer shall remain open; and 

  

	 	(v)	otherwise comply in all material respects with all applicable laws. 

  

	 	(h)	As soon as practicable after the close of the Exchange Offer or the Private Exchange, as the case may be, the Company shall (and shall cause each Guarantor to):

  

	 	(i)	accept for exchange all Registrable Notes validly tendered pursuant to the Exchange Offer or the Private Exchange, as the case may be, and not validly withdrawn;

  

	 	(ii)	deliver to the Trustee for cancellation all Registrable Notes so accepted for exchange; and 

 

	 	(iii)	cause the Trustee to authenticate and deliver promptly to each Holder tendering such Registrable Notes, Exchange Notes or Private Exchange Notes, as the case may be,
equal in principal amount to the Notes of such Holder so accepted for exchange. 

  

	 	(i)	The Exchange Notes and the Private Exchange Notes may be issued under (i) the Indenture or (ii) an indenture identical to the Indenture (other than such
changes as are necessary to comply with any requirements of the SEC to effect or maintain the qualification thereof under the TIA), which in either event will provide that the Exchange Notes will not be subject to the transfer restrictions set forth
in the Indenture, that the Private Exchange Notes will be subject to the transfer restrictions set forth in the Indenture, and that the Exchange Notes, the Private Exchange Notes and the Notes, if any, will be deemed one class of security (subject
to the provisions of the Indenture). 

  

	 	(j)	 If: (i) the Company and the Guarantors are not required to file an Exchange Registration Statement; (ii) applicable interpretations of the
staff of the SEC would not permit the consummation of the Exchange Offer prior to the Effectiveness Date; or (iii) in the case of (A) any Holder not permitted by applicable law or SEC policy to participate in the Exchange Offer,
(B) any Holder participating in the Exchange Offer that receives Exchange Notes that 

  
 7 

	 	
may not be sold without restriction under state and federal securities laws (other than due solely to the status of such Holder as an affiliate of the Company within the meaning of the Securities
Act) or (C) any broker-dealer that holds Notes acquired directly from the Company or any of its affiliates and, in each such case contemplated by this clause (iii), such Holder notifies the Company prior to the 20th Business Day following
consummation of the Exchange Offer, then the Company shall promptly (and in any event within five Business Days) deliver to the Holders (or in the case of an occurrence of any event described in clause (iii) of this Section 3(j) hereof, to
any such Holder) and the Trustee notice thereof (the “Shelf Notice”) and shall file an Initial Shelf Registration pursuant to Section 4 hereof. 

 4. Shelf Registration 
 If a Shelf Notice is delivered pursuant to
Section 3(j) hereof, then this Section 4 shall apply to all Registrable Notes. Otherwise, upon consummation of the Exchange Offer in accordance with Section 3 hereof, the provisions of Section 4 hereof shall apply solely with
respect to (i) Notes held by any Holder thereof not permitted to participate in the Exchange Offer, (ii) Notes held by any broker-dealer that acquired such Notes directly from the Company or any of its affiliates and (iii) Exchange
Notes that are not freely tradeable as contemplated by Section 3(j)(iii) hereof, provided in each case that the relevant Holder has duly notified the Company within 20 Business Days of the Exchange Offer as required by Section 3(j)(iii)
hereof. 
  

	 	(a)	Initial Shelf Registration. The Company shall (and shall cause each Guarantor to), as promptly as practicable, file with the SEC a Registration Statement for an
offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Notes (the “Initial Shelf Registration”). If the Company (and any Guarantor) has not yet filed an Exchange Registration Statement, the
Company shall (and shall cause each Guarantor to) file with the SEC the Initial Shelf Registration on or prior to the Filing Date and shall use all commercially reasonable efforts to cause such Initial Shelf Registration to be declared effective
under the Securities Act on or prior to the Effectiveness Date. Otherwise, the Company shall (and shall cause each Guarantor to) use all commercially reasonable efforts to file with the SEC the Initial Shelf Registration within 30 days of the
delivery of the Shelf Notice and shall use all commercially reasonable efforts to cause such Shelf Registration to be declared effective under the Securities Act as promptly as practicable thereafter (but in no event more than 90 days after delivery
of the Shelf Notice). The Initial Shelf Registration shall be on Form S-3 or another appropriate form permitting registration of such Registrable Notes for resale by Holders in the manner or manners reasonably designated by them (including, without
limitation, one or more underwritten offerings). The Company and the Guarantors shall not permit any securities other than the Registrable Notes to be included in any Shelf Registration. The Company shall (and shall cause each Guarantor to) use all
commercially reasonable efforts to keep the Initial Shelf Registration continuously effective under the Securities Act until the date which is one year from the Mandatory Exchange Date (subject to extension pursuant to the last sentence of
Section 6(w) hereof (the “Effectiveness Period”), or such shorter period ending when (i) all Registrable Notes covered by the Initial Shelf Registration have been sold in the manner set forth and as contemplated in the
Initial Shelf Registration (ii) a Subsequent Shelf Registration covering all of the Registrable Notes covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration has been declared effective under the
Securities Act or (iii) there cease to be any outstanding Registrable Notes. 

  

	 	(b)	 Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf Registration (as defined below) ceases to be effective
for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Company shall (and shall cause each Guarantor to) use all commercially

  
 8 

	 	
reasonable efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend such Shelf
Registration in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file (and cause each Guarantor to file) an additional “shelf” Registration Statement pursuant to Rule 415 covering all of the
Registrable Notes (a “Subsequent Shelf Registration”). If a Subsequent Shelf Registration is filed, the Company shall (and shall cause each Guarantor to) use all commercially reasonable efforts to cause the Subsequent Shelf
Registration to be declared effective as soon as practicable after such filing and to keep such Subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of
days during which the Initial Shelf Registration or any Subsequent Shelf Registration was previously continuously effective. As used herein the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf
Registrations 

  

	 	(c)	Supplements and Amendments. The Company shall promptly supplement and amend any Shelf Registration if required by the rules, regulations or instructions
applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Registrable Notes covered by such Shelf
Registration or by any underwriter of such Registrable Notes. 

  

	 	(d)	Provision of Information. No Holder of Registrable Notes shall be entitled to include any of its Registrable Notes in any Shelf Registration pursuant to this
Agreement unless such Holder furnishes to the Company and the Trustee in writing, within 20 days after receipt of a written request therefor, such information as the Company and the Trustee after conferring with counsel with regard to information
relating to Holders that would be required by the SEC to be included in such Shelf Registration or Prospectus included therein, may reasonably request for inclusion in any Shelf Registration or Prospectus included therein, and no such Holder shall
be entitled to Special Interest pursuant to Section 5 hereof unless and until such Holder shall have provided such information. 

 5. Special Interest 
  

	 	(a)	The Company and each Guarantor acknowledges and agrees that the Holders of Registrable Notes will suffer damages if the Company or any Guarantor fails to fulfill its
material obligations under Section 3 or Section 4 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company and the Guarantors agree to pay additional cash interest on the
Notes (“Special Interest”) under the circumstances and to the extent set forth below (each of which shall be given independent effect): 

  

	 	(i)	if neither the Exchange Registration Statement nor the Initial Shelf Registration has been filed on or prior to the Filing Date, Special Interest shall accrue on the
Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Filing Date, such Special Interest rate increasing by an additional 0.25% per annum
at the beginning of each subsequent 90-day period; 

  

	 	(ii)	 if neither the Exchange Registration Statement nor the Initial Shelf Registration is declared effective on or prior to the Effectiveness Date, Special
Interest shall accrue on the Notes over and above any stated interest at a rate of 0.25% per annum of the 

  
 9 

	 	
principal amount of such Notes for the first 90 days immediately following the Effectiveness Date, such Special Interest rate increasing by an additional 0.25% per annum at the beginning of
each subsequent 90-day period; 

  

	 	(iii)	if (A) the Company (and any Guarantor) has not exchanged Exchange Notes for all Notes validly tendered in accordance with the terms of the Exchange Offer on or
prior to the 30th Business Day after the Effectiveness Date, (B) the Exchange Registration Statement ceases to be effective at any time prior to the time that the Exchange Offer is consummated, (C) if applicable, a Shelf Registration has
been declared effective and such Shelf Registration ceases to be effective at any time prior to the second anniversary of its effective date (other than such time as all Notes have been disposed of thereunder) and is not declared effective again
within 30 days, or (D) pending the announcement of a material corporate transaction, the Company issues a written notice pursuant to Section 6(e)(v) or (vi) hereof that a Shelf Registration Statement or Exchange Registration Statement
is unusable and the aggregate number of days in any 365-day period for which all such notices issued or required to be issued, have been, or were required to be, in effect exceeds 120 days in the aggregate or 30 days consecutively, in the case of a
Shelf Registration statement, or 15 days in the aggregate, in the case of an Exchange Registration Statement, then Special Interest shall accrue on the Notes, over and above any stated interest, at a rate of 0.25% per annum of the principal
amount of such Notes commencing on (w) the 31st Business Day after the Effectiveness Date, in the case of (A) above, or (x) the date the Exchange Registration Statement ceases to be effective without being declared effective again
within 30 days, in the case of clause (B) above, or (y) the day such Shelf Registration ceases to be effective in the case of (C) above, or (z) the day the Exchange Registration Statement or Shelf Registration ceases to be usable
in case of clause (D) above, such Special Interest rate increasing by an additional 0.25% per annum at the beginning of each such subsequent 90-day period; 

provided, however, that the maximum Special Interest rate on the Notes may not exceed at any one time in the aggregate
1.00% per annum; and provided further, that (1) upon the filing of the Exchange Registration Statement or Initial Shelf Registration (in the case of (i) above), (2) upon the effectiveness of the Exchange Registration
Statement or Initial Shelf Registration (in the case of (ii) above), or (3) upon the exchange of Exchange Notes for all Notes tendered (in the case of (iii)(A) above), or upon the effectiveness of the Exchange Registration Statement that
had ceased to remain effective (in the case of clause (iii)(B) above), or upon the effectiveness of a Shelf Registration which had ceased to remain effective (in the case of (iii)(C) above), Special Interest on the Notes as a result of such clause
(or the relevant subclause thereof) or upon the effectiveness of such Registration Statement or Exchange Registration Statement (in the case of clause (iii)(D) above), as the case may be, shall cease to accrue. 

 

	 	(b)	 The Company shall notify the Trustee within three Business Days after each and every date on which an event occurs in respect of which Special Interest
is required to be paid (an “Event Date”). Any amounts of Special Interest due pursuant to clause (a)(i), (a)(ii) or (a)(iii) of this Section 5 hereof will be payable in cash, on the dates and in the manner provided in
the Indenture and whether or not any cash interest would then be payable on such date, commencing with the first such semi-annual date occurring after any such Special Interest commences to accrue. The amount of Special Interest will be determined
by multiplying the applicable Special Interest rate by the principal amount of the Notes, multiplied by a fraction, the numerator of which is the number of days such Special Interest rate was

  
 10 

	 	
applicable during such period (determined on the basis of a 360-day year comprised of twelve 30-day months and, in the case of a partial month, the actual number of days elapsed), and the
denominator of which is 360. 

 6. Registration Procedures 

In connection with the filing of any Registration Statement pursuant to Sections 3 or 4 hereof, the Company shall (and shall cause
each Guarantor to) effect such registrations to permit the sale of such securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed
by the Company hereunder, the Company shall (and shall cause each Guarantor to): 
  

	 	(a)	Prepare and file with the SEC as soon as practicable after the date hereof but in any event on or prior to the Filing Date, the Exchange Registration Statement or if
the Exchange Registration Statement is not filed because of the circumstances contemplated by Section 3(j) hereof, a Shelf Registration as prescribed by Section 4 hereof, and use all commercially reasonable efforts to cause each such
Registration Statement to become effective and remain effective as provided herein; provided that, if (1) a Shelf Registration is filed pursuant to Section 4 hereof or (2) a Prospectus contained in an Exchange Registration
Statement filed pursuant to Section 3 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, before filing any Registration
Statement or Prospectus or any amendments or supplements thereto the Company shall (and shall cause each Guarantor to), if requested, furnish to and afford the Holders of the Registrable Notes to be registered pursuant to such Shelf Registration
Statement, each Participating Broker-Dealer, the managing underwriters, if any, and each of their respective counsel, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference
therein and all exhibits thereto) proposed to be filed (in each case at least five Business Days prior to such filing). The Company and each Guarantor shall not file any such Registration Statement or Prospectus or any amendments or supplements
thereto in respect of which the Holders must provide information for the inclusion therein without the Holders being afforded an opportunity to review such documentation if the holders of a majority in aggregate principal amount of the Registrable
Notes covered by such Registration Statement, or any such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, or any of their respective counsel shall reasonably object in writing on a timely basis. A Holder shall be
deemed to have reasonably objected to such filing if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains an untrue statement of a material fact or omits to state any material fact
necessary to make the statements therein not misleading or fails to comply with the applicable requirements of the Securities Act. 

  

	 	(b)	Provide an indenture trustee for the Registrable Notes, the Exchange Notes or the Private Exchange Notes, as the case may be, and cause the Indenture (or other
indenture relating to the Registrable Notes) to be qualified under the TIA not later than the effective date of the first Registration Statement; and in connection therewith, to effect such changes to such indenture as may be required for such
indenture to be so qualified in accordance with the terms of the TIA; and execute, and use all commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and
documents required to be filed with the SEC to enable such indenture to be so qualified in a timely manner. 

  
 11 

	 	(c)	Prepare and file with the SEC such pre-effective amendments and post-effective amendments to each Shelf Registration or Exchange Registration Statement, as the case may
be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by
applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; and comply with the provisions of the Securities Act and the Exchange Act applicable to them with
respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a Participating Broker-Dealer
covered by any such Prospectus. The Company and each Guarantor shall not, during the Applicable Period, voluntarily take any action that would result in selling Holders of the Registrable Notes covered by a Registration Statement or Participating
Broker-Dealers seeking to sell Exchange Notes not being able to sell such Registrable Notes or such Exchange Notes during that period, unless such action is required by applicable law, rule or regulation or permitted by this Agreement.

  

	 	(d)	Furnish to such selling Holders and Participating Broker-Dealers who so request in writing (i) upon the Company’s receipt, a copy of the order of the SEC
declaring such Registration Statement and any post effective amendment thereto effective, (ii) such reasonable number of copies of such Registration Statement and of each amendment and supplement thereto (in each case including any documents
incorporated therein by reference and all exhibits), (iii) such reasonable number of copies of the Prospectus included in such Registration Statement (including each preliminary Prospectus) and each amendment and supplement thereto, and such
reasonable number of copies of the final Prospectus as filed by the Company and each Guarantor pursuant to Rule 424(b) (or any similar provisions then in force) under the Securities Act, in conformity with the requirements of the Securities Act and
each amendment and supplement thereto, and (iv) such other documents (including any amendments required to be filed pursuant to clause (c) of this Section 6), as any such Person may reasonably request in writing. The Company and the
Guarantors hereby consent to the use of the Prospectus by each of the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with
the offering and sale of the Registrable Notes covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment or supplement thereto. 

 

	 	(e)	 If (1) a Shelf Registration is filed pursuant to Section 4 hereof, or (2) a Prospectus contained in an Exchange Registration Statement
filed pursuant to Section 3 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, the Company shall notify in writing the
selling Holders of Registrable Notes, or each such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, and each of their respective counsel promptly (but in any event within two Business Days) (i) when a
Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective (including in such notice a written statement that
any Holder may, upon request, obtain, without charge, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and
exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings for that purpose,
(iii) if at any time when a Prospectus is required by the Securities Act to be 

  
 12 

	 	
delivered in connection with sales of the Registrable Notes the representations and warranties of the Company and any Guarantor contained in any agreement (including any underwriting agreement)
contemplated by Section 6(n) hereof cease to be true and correct, (iv) of the receipt by the Company or any Guarantor of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration
Statement or any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the happening of
any event, the existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in
any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of
a material fact or omit to state any material fact required to be stated therein to make the statement not misleading, or in the case of a Prospectus or documents incorporated or deemed to be incorporated by reference, it will not contain any untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, (vi) of any reasonable
determination by the Company or any Guarantor that a post-effective amendment to a Registration Statement would be appropriate and (vii) of any request by the SEC for amendments to the Registration Statement or supplements to the Prospectus or
for additional information relating thereto. 

  

	 	(f)	Use all commercially reasonable efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or
suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such
order is issued, to use all commercially reasonable efforts to obtain the withdrawal of any such order at the earliest possible date. 

  

	 	(g)	If (A) a Shelf Registration is filed pursuant to Section 4 hereof, (B) a Prospectus contained in an Exchange Registration Statement filed pursuant to
Section 3 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period or (C) reasonably requested in writing by the managing underwriters, if
any, or the Holders of a majority in aggregate principal amount of the Registrable Notes being sold in connection with an underwritten offering, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such information or
revisions to information therein relating to such underwriters or selling Holders as the managing underwriters, if any, or such Holders or any of their respective counsel reasonably request in writing to be included or made therein and
(ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplements or post-effective
amendment. 

  

	 	(h)	 Prior to any public offering of Registrable Notes or any delivery of a Prospectus contained in the Exchange Registration Statement by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use all commercially reasonable efforts to register or qualify, and to cooperate with the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as
the case may be, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Notes or Exchange Notes, as the case may be, for
offer and sale under the securities or Blue Sky laws of such jurisdictions within 

  
 13 

	 	
the United States as any selling Holder, Participating Broker-Dealer or any managing underwriter or underwriters, if any, reasonably request in writing; provided, that where Exchange Notes
held by Participating Broker-Dealers or Registrable Notes are offered other than through an underwritten offering, the Company and each Guarantor agree to cause its counsel to perform Blue Sky investigations and file any registrations and
qualifications required to be filed pursuant to this Section 6(h), keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all
other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Exchange Notes held by Participating Broker-Dealers or the Registrable Notes covered by the applicable Registration Statement;
provided that neither the Company nor any Guarantor shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of
process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

 

	 	(i)	If (A) a Shelf Registration is filed pursuant to Section 4 hereof or (B) a Prospectus contained in an Exchange Registration Statement filed pursuant to
Section 3 hereof is requested to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, cooperate with the selling Holders of Registrable Notes and the managing
underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Notes to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit
with The Depository Trust Company, and enable such Registrable Notes to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably request. 

 

	 	(j)	Use all commercially reasonable efforts to cause the Registrable Notes covered by any Registration Statement to be registered with or approved by such governmental
agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter, if any, to consummate the disposition of such Registrable Notes, except as may be required solely as a consequence of the nature of such selling
Holder’s business, in which case the Company shall (and shall cause each Guarantor to) cooperate in all reasonable respects with the filing of such Registration Statement and the granting of such approvals; provided that neither the
Company nor any existing Guarantor shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any jurisdiction
where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(k)	 If (1) a Shelf Registration is filed pursuant to Section 4 hereof, or (2) a Prospectus contained in an Exchange Registration Statement
filed pursuant to Section 3 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by paragraph
7(e)(v) or 7(e)(vi) hereof, as promptly as practicable, prepare and file with the SEC, at the expense of the Company and the Guarantors, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus
or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Notes being sold thereunder or to the purchasers of the
Exchange Notes to whom such Prospectus will be delivered by a Participating Broker-Dealer, such Registration Statement will not contain an untrue statement of a material fact or

  
 14 

	 	
omit to state a material fact required to be stated therein to make the statements not misleading or such Prospectus or documents incorporated by reference or deemed to be incorporated by
reference will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading,
and, if SEC review is required, use all commercially reasonable efforts to cause such post-effective amendment to be declared effective as soon as possible. 

 

	 	(l)	Use all commercially reasonable efforts to cause the Registrable Notes covered by a Registration Statement to be rated with such appropriate rating agencies, if so
requested in writing by the Holders of a majority in aggregate principal amount of the Registrable Notes covered by such Registration Statement or the managing underwriter or underwriters, if any. 

 

	 	(m)	Prior to the initial issuance of the Exchange Notes, (i) provide the Trustee with one or more certificates for the Registrable Notes in a form eligible for deposit
with The Depository Trust Company and (ii) provide CUSIP and ISIN numbers for the Exchange Notes; provided, however, that the Company will use all commercially reasonable efforts to cause the Exchange Notes to have the same CUSIP
and ISIN numbers as the Existing Heckmann Notes. 

  

	 	(n)	 If a Shelf Registration is filed pursuant to Section 4 hereof, enter into such agreements (including an underwriting agreement in form, scope and
substance as is customary in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances) and take all such other actions in connection therewith (including those reasonably requested in writing by the
managing underwriters, if any, or the Holders of a majority in aggregate principal amount of the Registrable Notes being sold) in order to expedite or facilitate the registration or the disposition of such Registrable Notes, and in such connection,
whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, (i) make such representations and warranties to the Holders and the underwriters, if any, with respect to the business
of the Company and its subsidiaries as then conducted, and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and confirm the same if and when reasonably required; (ii) obtain an opinion of counsel to the
Company and the Guarantors and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters, if any, and the Holders of a majority in aggregate principal amount of the
Registrable Notes being sold), addressed to each selling Holder and each of the underwriters, if any, covering the matters customarily covered in opinions of counsel to the Company and the Guarantors requested in underwritten offerings of debt
securities similar to the Notes, as may be appropriate in the circumstances; (iii) obtain “cold comfort” letters and updates thereof (which letters and updates (in form, scope and substance) shall be reasonably satisfactory to the
managing underwriters) from the independent certified public accountants of the Company and the Guarantors (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the
Company for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily
covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and such other matters as reasonably requested in writing by the underwriters;
and (iv) deliver such documents and certificates as 

  
 15 

	 	
may be reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Registrable Notes being sold and the managing underwriters, if any, to evidence the
continued validity of the representations and warranties of the Company and its subsidiaries made pursuant to clause (i) above and to evidence compliance with any conditions contained in the underwriting agreement or other similar agreement
entered into by the Company or any Guarantor. Notwithstanding the foregoing and any other provision hereof, if a Shelf Registration is filed pursuant to Section 4 hereof, the Company and the Guarantors may suspend the availability of such Shelf
Registration, without being required to pay any Special Interest, upon written notice to the Holders (which notice shall be accompanied by an instruction to suspend the use of the Prospectus contained in such Shelf Registration), for one or more
periods not to exceed 60 consecutive days in any 90-day period, and not to exceed, in the aggregate, 95 days in any 365-day period (each such period, a “Suspension Period”) if (1) the Board of Directors of the Company
determines in good faith that it is in the best interests of the Company not to disclose the existence of or facts surrounding any proposed or pending material corporate transaction involving the Company that could reasonably be expected to have a
material effect on the business, operations or prospects of the Company or (2) the disclosure otherwise relates to a material business transaction which has not been publicly disclosed and the Board of Directors of the Company determines, in
good faith, that any such disclosure may jeopardize the success of the transaction. In the event the Company and the Guarantors commence one or more Suspension Periods in accordance with the preceding sentence, the Effectiveness Period shall be
extended by the corresponding number of days of each such Suspension Period. 

  

	 	(o)	 If (1) a Shelf Registration is filed pursuant to Section 4 hereof, or (2) a Prospectus contained in an Exchange Registration Statement
filed pursuant to Section 3 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon at least two Business Days’ prior written
notice, make available for inspection by any selling Holder of such Registrable Notes being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Registrable Notes, if any, and
any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the offices where normally kept, during
reasonable business hours, all financial and other records and pertinent corporate documents of the Company and its subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any
applicable due diligence responsibilities, and cause the officers, directors and employees of the Company and its subsidiaries to supply all information reasonably requested in writing by any such Inspector in connection with such Registration
Statement. Each Inspector shall agree in writing that it will keep the Records confidential and not disclose any of the Records unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such
Registration Statement, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) the information in such Records is public or has been made generally available to the
public other than as a result of a disclosure or failure to safeguard by such Inspector or (iv) disclosure of such information is, in the reasonable written opinion of counsel for any Inspector, necessary or advisable in connection with any
action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, related to, or involving this Agreement, or any transaction contemplated hereby or arising hereunder. Each
selling Holder of such Registrable Notes and each such Participating Broker-Dealer will be required to agree that information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for
any market transactions in the securities of the Company unless and until such is made generally available to the public. 

  
 16 

	 	
Each Inspector, each selling Holder of such Registrable Notes and each such Participating Broker-Dealer will be required to further agree that it will, upon learning that disclosure of such
Records is sought in a court of competent jurisdiction, give notice to the Company and, to the extent practicable, use all commercially reasonable efforts to allow the Company, at its expense, to undertake appropriate action to prevent disclosure of
the Records deemed confidential. 

  

	 	(p)	Comply with all applicable rules and regulations of the SEC and make generally available to the security holders of the Company with regard to any applicable
Registration Statement earning statements satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any 12-month
period (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten
offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statements shall cover said 12-month periods.

  

	 	(q)	Upon consummation of an Exchange Offer or Private Exchange, obtain an opinion of counsel to the Company and the Guarantors (in form, scope and substance reasonably
satisfactory to the Initial Purchasers), addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer or Private Exchange, as the case may be, to the effect that (i) the Company and the Guarantors have duly
authorized, executed and delivered the Exchange Notes or the Private Exchange Notes, as the case may be, and the Indenture, and (ii) the Exchange Notes or the Private Exchange Notes, as the case may be, and the Indenture constitute legal, valid
and binding obligations of the Company and the Guarantors, enforceable against the Company and the Guarantors in accordance with their respective terms, except as such enforcement may be subject to customary United States and foreign exceptions.

  

	 	(r)	If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes by the Holders to the Company and the Guarantors (or to such
other Person as directed by the Company and the Guarantors) in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be, the Company and the Guarantors shall mark, or caused to be marked, on such Registrable Notes that the
Exchange Notes or the Private Exchange Notes, as the case may be, are being issued as substitute evidence of the indebtedness originally evidenced by the Registrable Notes; provided that in no event shall such Registrable Notes be marked as
paid or otherwise satisfied. 

  

	 	(s)	Cooperate with each seller of Registrable Notes covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable
Notes and their respective counsel in connection with any filings required to be made with FINRA. 

  

	 	(t)	Use all commercially reasonable efforts to cause all Securities covered by a Registration Statement to be listed on each securities exchange, if any, on which similar
debt securities issued by the Company are then listed. 

  

	 	(u)	Use all commercially reasonable efforts to take all other steps reasonably necessary to effect the registration of the Registrable Notes covered by a Registration
Statement contemplated hereby. 

  
 17 

	 	(v)	The Company may require each seller of Registrable Notes or Participating Broker-Dealer as to which any registration is being effected to furnish to the Company such
information regarding such seller or Participating Broker-Dealer and the distribution of such Registrable Notes as the Company may, from time to time, reasonably request in writing. The Company may exclude from such registration the Registrable
Notes of any seller who fails to furnish such information within a reasonable time (which time in no event shall exceed 45 days, subject to Section 4(d)) hereof) after receiving such request. Each seller of Registrable Notes or Participating
Broker-Dealer as to which any registration is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished by such seller not materially misleading.

  

	 	(w)	Each Holder of Registrable Notes and each Participating Broker-Dealer agrees by acquisition of such Registrable Notes or Exchange Notes to be sold by such Participating
Broker-Dealer, as the case may be, that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 6(e)(ii), 6(e)(iv), 6(e)(v), or 6(e)(vi) hereof, such Holder will forthwith discontinue
disposition of such Registrable Notes covered by a Registration Statement and such Participating Broker-Dealer will forthwith discontinue disposition of such Exchange Notes pursuant to any Prospectus and, in each case, forthwith discontinue
dissemination of such Prospectus until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(k) hereof, or until it is advised in writing (the
“Advice”) by the Company and the Guarantors that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto and, if so directed by the Company and the Guarantors, such
Holder or Participating Broker-Dealer, as the case may be, will deliver to the Company all copies, other than permanent file copies, then in such Holder’s or Participating Broker-Dealer’s possession, of the Prospectus covering such
Registrable Notes current at the time of the receipt of such notice. In the event the Company and the Guarantors shall give any such notice, the Applicable Period shall be extended by the number of days during such periods from and including the
date of the giving of such notice to and including the date when each Participating Broker-Dealer shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 6(k) hereof or (y) the Advice.

 7. Registration Expenses 
  

	 	(a)	 All fees and expenses incident to the performance of or compliance with this Agreement by the Company and the Guarantors shall be borne by the Company
and the Guarantors, whether or not the Exchange Offer or a Shelf Registration is filed or becomes effective, including, without limitation, (i) all registration and filing fees, including, without limitation, (A) fees with respect to
filings required to be made with FINRA in connection with any underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws as provided in Section 6(h) hereof (including, without limitation,
reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Notes or Exchange Notes and determination of the eligibility of the Registrable Notes or Exchange Notes for investment under the laws of such
jurisdictions (x) where the Holders are located, in the case of the Exchange Notes, or (y) as provided in Section 6(h), in the case of Registrable Notes or Exchange Notes to be sold by a Participating Broker-Dealer during the
Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing Prospectuses if the printing of Prospectuses is requested by the managing underwriter or underwriters, if any, or by the Holders of a majority in
aggregate principal amount of the Registrable Notes included in any Registration Statement or by any 

  
 18 

	 	
Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) messenger, telephone and delivery expenses incurred in connection with the performance of their
obligations hereunder, (iv) fees and disbursements of counsel for the Company, the Guarantors and, subject to Section 7(b) hereof, the Holders, (v) fees and disbursements of all independent certified public accountants referred to in
Section 6 hereof (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) rating agency fees and the fees and expenses incurred in connection
with the listing of the Securities to be registered on any securities exchange, (vii) Securities Act liability insurance, if the Company and the Guarantors desire such insurance, (viii) fees and expenses of all other Persons retained by
the Company and the Guarantors, (ix) fees and expenses of any “qualified independent underwriter” or other independent appraiser participating in an offering pursuant to Section 3 of Schedule E to the By-laws of FINRA, but only
where the need for such a “qualified independent underwriter” arises due to a relationship with the Company and the Guarantors, (x) internal expenses of the Company and the Guarantors (including, without limitation, all salaries and
expenses of officers and employees of the Company or the Guarantors performing legal or accounting duties), (xi) the expense of any annual audit, (xii) the fees and expenses of the Trustee and the Exchange Agent and (xiii) the
expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, securities sales agreements, indentures and any other documents necessary in order to comply with this Agreement. Notwithstanding
the foregoing, the Company shall not pay any underwriting or brokerage fees, discounts or commissions. 

  

	 	(b)	The Company and the Guarantors shall reimburse the Holders for the reasonable fees and disbursements of not more than one counsel chosen by the Holders of a majority in
aggregate principal amount of the Registrable Notes to be included in any Registration Statement. The Company and the Guarantors shall pay all documentary, stamp, transfer or other transactional taxes attributable to the issuance or delivery of the
Exchange Notes or Private Exchange Notes in exchange for the Notes; provided that the Company shall not be required to pay taxes payable in respect of any transfer involved in the issuance or delivery of any Exchange Note or Private Exchange
Note in a name other than that of the Holder of the Note in respect of which such Exchange Note or Private Exchange Note is being issued. The Company and the Guarantors shall reimburse the Holders for fees and expenses (including reasonable fees and
expenses of counsel to the Holders) relating to any enforcement of any rights of the Holders under this Agreement. 

 8.
Indemnification 
  

	 	(a)	 Indemnification by the Company and the Guarantors. The Company and the Guarantors jointly and severally agree to indemnify and hold harmless
each Holder of Registrable Notes, Exchange Notes or Private Exchange Notes and each Participating Broker-Dealer selling Exchange Notes during the Applicable Period, each Person, if any, who controls each such Holder (within the meaning of
Section 15 of the Securities Act or Section 20(a) of the Exchange Act) and the officers, directors and partners of each such Holder, Participating Broker-Dealer and controlling person, to the fullest extent lawful, from and against any and
all losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’ fees as provided in this Section 8) and expenses (including, without limitation, reasonable costs and
expenses incurred in connection with investigating, preparing, pursuing or defending against any of the foregoing) (collectively, “Losses”), as incurred, directly or indirectly caused by, related to, based upon, arising out of or in
connection with, in the case of the Registration Statement or in any amendments thereto, any untrue or alleged untrue statement of a material fact contained therein or any 

  
 19 

	 	
omission or alleged omission to state therein a material fact required to be stated therein to make the statements not misleading, or in the case of any Prospectus or form of prospectus, or in
any amendment or supplement thereto, or in any preliminary prospectus, any untrue or alleged untrue statement of a material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as such Losses are solely based upon information relating to such Holder or Participating Broker-Dealer and furnished
in writing to the Company and the Guarantors by such Holder or Participating Broker-Dealer or their counsel expressly for use therein. The Company and the Guarantors also agree to indemnify underwriters, selling brokers, dealer managers and similar
securities industry professionals participating in the distribution, their officers, directors, agents and employees and each Person who controls such Persons (within the meaning of Section 5 of the Securities Act or Section 20(a) of the
Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders or the Participating Broker-Dealer. 

  

	 	(b)	Indemnification by Holder. In connection with any Registration Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any
preliminary prospectus in which a Holder is participating, such Holder shall furnish to the Company and the Guarantors in writing such information as the Company and the Guarantors reasonably request for use in connection with any Registration
Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any preliminary prospectus and shall indemnify and hold harmless the Company, the Guarantors, their respective directors and each Person, if any, who controls the
Company and the Guarantors (within the meaning of Section 15 of the Securities Act and Section 20(a) of the Exchange Act), and the directors, officers and partners of such controlling persons, to the fullest extent lawful, from and against
all Losses, as incurred, directly or indirectly caused by, related to, in connection with, arising out of or based upon, in the case of the Registration Statement or in any amendments thereto, any untrue or alleged untrue statement of a material
fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein to make the statements not misleading, or in the case of any Prospectus or form of prospectus, or in any amendment or
supplement thereto, or in any preliminary prospectus, any untrue or alleged untrue statement of a material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading to the extent, but only to the extent, that such Losses are finally judicially determined by a court of competent jurisdiction in a final,
unappealable order to have resulted solely from an untrue statement or alleged untrue statement of a material fact or omission or alleged omission of a material fact contained in or omitted from any information so furnished in writing by such Holder
to the Company and the Guarantors expressly for use therein. Notwithstanding the foregoing, in no event shall the liability of any selling Holder be greater in amount than such Holder’s Maximum Contribution Amount (as defined below).

  

	 	(c)	Conduct of Indemnification Proceedings. If any proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an
“Indemnified Party”), such Indemnified Party shall promptly notify the party or parties from which such indemnity is sought (the “Indemnifying Party” or “Indemnifying Parties”, as applicable) in
writing; but the omission to so notify the Indemnifying Party (i) will not relieve such Indemnifying Party from any liability under paragraph (a) or (b) above unless and only to the extent it is materially prejudiced as a result
thereof and (ii) will not, in any event, relieve the Indemnifying Party from any obligations to any Indemnified Party other than the indemnification obligation provided in paragraphs (a) and (b) above. 

  
 20 

 The Indemnifying Party shall have the right, exercisable by giving written notice to an
Indemnified Party, within 20 Business Days after receipt of written notice from such Indemnified Party of such proceeding, to assume, at its expense, the defense of any such proceeding; provided, that an Indemnified Party shall have the right
to employ separate counsel in any such proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or parties unless: (1) the Indemnifying Party has agreed in
writing to pay such fees and expenses in writing; or (2) the Indemnifying Party shall have failed promptly to assume the defense of such proceeding or shall have failed to employ counsel reasonably satisfactory to such Indemnified Party; or
(3) the named parties to any such proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party or any of its affiliates or controlling persons, and such Indemnified Party shall have been advised by
counsel that there may be one or more defenses available to such Indemnified Party that are in addition to, or in conflict with, those defenses available to the Indemnifying Party or such affiliate or controlling person (in which case, if such
Indemnified Party notifies the Indemnifying Parties in writing that it elects to employ separate counsel at the expense of the Indemnifying Parties, the Indemnifying Parties shall not have the right to assume the defense and the reasonable fees and
expenses of such counsel shall be at the expense of the Indemnifying Party; it being understood, however, that, the Indemnifying Party shall not, in connection with any one such proceeding or separate but substantially similar or related proceedings
in the same jurisdiction, arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys (together with appropriate local counsel) at any time for such Indemnified
Party). 
 No Indemnifying Party shall be liable for any settlement of any such proceeding effected without its prior written
consent, which shall not be unreasonably withheld, but if settled with its written consent, or if there be a final judgment for the plaintiff in any such proceeding, each Indemnifying Party jointly and severally agrees, subject to the exceptions and
limitations set forth above, to indemnify and hold harmless each Indemnified Party from and against any and all Losses by reason of such settlement or judgment. The Indemnifying Party shall not consent to the entry of any judgment or enter into any
settlement unless such judgment or settlement (i) includes as an unconditional term thereof the giving by the claimant or plaintiff to each Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party,
from all liability in respect of such proceeding for which such Indemnified Party would be entitled to indemnification hereunder (whether or not any Indemnified Party is a party thereto) and (ii) does not include a statement as to or an
admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party. 
  

	 	(d)	 Contribution. If the indemnification provided for in this Section 8 is unavailable to an Indemnified Party or is insufficient to hold such
Indemnified Party harmless for any Losses in respect of which this Section 8 would otherwise apply by its terms (other than by reason of exceptions provided in this Section 8), then each applicable Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall have a joint and several obligation to contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of
the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault
of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact relates to information supplied by such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent any such statement or omission. The
amount paid or 

  
 21 

	 	
payable by an Indemnified Party as a result of any Losses shall be deemed to include any legal or other fees or expenses incurred by such party in connection with any proceeding, to the extent
such party would have been indemnified for such fees or expenses if the indemnification provided for in Section 8(a) or 8(b) hereof was available to such party. 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 8(d) were determined by
pro rata allocation or by other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 8(d), a selling Holder shall not
be required to contribute, in the aggregate, any amount in excess of such Holder’s Maximum Contribution Amount. A selling Holder’s “Maximum Contribution Amount” shall equal the excess of (i) the aggregate proceeds
received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The
Company’s and Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. 
 The
indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties. 
 9. Rules 144 and 144A 
  

	 	(a)	The Company covenants that it shall (a) file the reports required to be filed by it (if so required) under the Securities Act and the Exchange Act in a timely
manner and, if at any time the Company is not required to file such reports, it will, upon the written request of any Holder of Registrable Notes, make publicly available other information necessary to permit sales pursuant to Rule 144 and 144A and
(b) take such further action as any Holder may reasonably request in writing, all to the extent required from time to time to enable such Holder to sell Registrable Notes without registration under the Securities Act pursuant to the exemptions
provided by Rule 144 and Rule 144A. Upon the request of any Holder, the Company shall deliver to such Holder a written statement as to whether it has complied with such information and requirements. 

 

	 	(b)	Availability of Rule 144 Not an Excuse for Obligations under Section 3. The fact that holders of Registrable Notes may become eligible to sell such
Registrable Notes pursuant to Rule 144 shall not (1) cause such Notes to cease to be Registrable Notes or (2) excuse the Company’s and the Guarantors’ obligations set forth in Section 3 hereof, including without limitation
the obligations in respect of an Exchange Offer, Shelf Registration and Special Interest. 

 10. Underwritten Registrations
of Registrable Notes 
 If any of the Registrable Notes covered by any Shelf Registration are to be sold in an
underwritten offering, the investment banker or investment bankers and manager or managers that will manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Notes included in such offering;
provided, however, that such investment banker or investment bankers and manager or managers must be reasonably acceptable to the Company. 

  
 22 

 No Holder of Registrable Notes may participate in any Underwritten Registration hereunder
unless such Holder (a) agrees to sell such Holder’s Registrable Notes on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
 11. Miscellaneous 
  

	 	(a)	Remedies. In the event of a breach by either the Company or any of the Guarantors of any of their respective obligations under this Agreement, each Holder, in
addition to being entitled to exercise all rights provided herein, in the Indenture or, in the case of the Initial Purchasers, in the Purchase Agreement, or granted by law, including recovery of damages, will be entitled to specific performance of
its rights under this Agreement. The Company and the Guarantors agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by either the Company or any of the Guarantors of any of the provisions of
this Agreement and hereby further agree that, in the event of any action for specific performance in respect of such breach, the Company shall (and shall cause each Guarantor to) waive the defense that a remedy at law would be adequate.

  

	 	(b)	No Inconsistent Agreements. The Company and each of the Guarantors have not entered, as of the date hereof, and the Company and each of the Guarantors shall not
enter, after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders of Securities in this Agreement or otherwise conflicts with the provisions hereof. The
Company and each of the Guarantors have not entered and will not enter into any agreement with respect to any of its securities that will grant to any Person piggy-back rights with respect to a Registration Statement. 

 

	 	(c)	Adjustments Affecting Registrable Notes. The Company shall not, directly or indirectly, take any action with respect to the Registrable Notes as a class that
would adversely affect the ability of the Holders to include such Registrable Notes in a registration undertaken pursuant to this Agreement. 

  

	 	(d)	Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, without the prior written consent of the Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable Notes in circumstances that would adversely affect any Holders of Registrable
Notes; provided, however, that Section 8 hereof and this Section 11(d) may not be amended, modified or supplemented without the prior written consent of each Holder. Notwithstanding the foregoing, a waiver or consent to
depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Notes whose securities are being tendered pursuant to the Exchange Offer or sold pursuant to a Notes Registration Statement
and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Registrable Notes may be given by Holders of at least a majority in aggregate principal amount of the Registrable Notes being tendered or
being sold by such Holders pursuant to such Notes Registration Statement. 

  
 23 

	 	(e)	Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail,
next-day air courier or telecopier: 

  

	 	(i)	if to a Holder of Securities or to any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set
forth on the records of the registrar of the Notes, with a copy in like manner to the Initial Purchasers as follows: 

 Jefferies & Company, Inc. 
 Wells Fargo Securities, LLC 

Credit Suisse Securities (USA) LLC 
 As Representatives of the Initial Purchasers listed in Schedule I hereto 

c/o Jefferies & Company, Inc. 
 520 Madison Avenue 
 New York, New York 10022 

Facsimile No.: (646) 619-4437 
 Attention: General Counsel 
 c/o Wells Fargo Securities, LLC 

301 S. College St., 6th Floor 
 Charlotte, NC 28202 
 Facsimile No.: (704) 380-3663 

Attention: Suzanne Alwan 
 c/o Credit Suisse Securities (USA) LLC 
 Eleven Madison Avenue 

New York, New York 10010 
 Facsimile No.: (212) 325-4296 
 Attention: LCD-IBD 

with a copy to: 

Latham & Watkins LLP 
 355 South Grand Avenue 
 Los Angeles, California 90071 

Facsimile No.: (213) 891-8763 
 Attention: Mark Stegemoeller, Esq. 
  

	 	(ii)	if to the Initial Purchasers, at the address specified in Section 11(e)(1) hereof; 

 

	 	(iii)	if to the Company or any Guarantor, as follows: 

 Heckmann Corporation 
 300 Cherrington Parkway, Suite 200 

Coraopolis, Pennsylvania 15108 
 Facsimile No.: (412) 291-1983 
 Attention: Damian C. Georgino, Executive Vice
President, Corporate 
 Development and Chief Legal Officer 

with a copy to: 

Reed Smith LLP 

225 Fifth Avenue 
 Pittsburgh, Pennsylvania 15222 
 Facsimile No.: (412) 288-3059 

Attention: Nicholas A. Bonarrigo, Esq. 

  
 24 

 All such notices and communications shall be deemed to have been duly given: when delivered
by hand, if personally delivered; five Business Days after being deposited in the United States mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier guaranteeing overnight delivery; and when
receipt is acknowledged by the addressee, if sent by telecopier, or the sender has received confirmation of receipt if sent by facsimile. 
 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee under the Indenture at the address specified in such Indenture.

  

	 	(f)	Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto, including,
without limitation and without the need for an express assignment, subsequent Holders of Securities. 

  

	 	(g)	Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

  

	 	(h)	Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

  

	 	(i)	Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE COMPANY HEREBY IRREVOCABLY SUBMITS TO
THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITS AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. THE COMPANY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER
APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH
COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE COMPANY IRREVOCABLY CONSENTS, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY
THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY AT ITS SAID ADDRESS, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY HOLDER TO SERVE PROCESS IN
ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN ANY OTHER JURISDICTION. 

  
 25 

	 	(j)	Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to
find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

 

	 	(k)	Securities Held by the Company or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Securities is required hereunder,
Securities held by the Company or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  

	 	(l)	Third Party Beneficiaries. Holders and Participating Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced
by such Persons. 

  

	 	(m)	Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a final and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts, understanding, correspondence, conversations
and memoranda between the Initial Purchasers on the one hand and the Company and the Guarantors on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in interest with
respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

  
 26 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

					
	HECKMANN CORPORATION
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Executive Vice President, Corporate
		 		 	Development and Chief Legal Counsel
	
	HECKMANN WATER RESOURCES CORPORATION, as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President
	
	HECKMANN WATER RESOURCES (CVR), INC., as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President
	
	HEK WATER SOLUTIONS, LLC, as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President
	
	1960 WELL SERVICES, LLC, as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President
	
	HECKMANN ENVIRONMENTAL SERVICES, INC., as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President

 [Signature Page to Registration Rights Agreement] 

 
					
	THERMO FLUIDS INC., as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President
	
	APPALACHIAN WATER SERVICES, LLC, as Guarantor
		
	By:	 	 /s/ Damian C. Georgino

		 	Name:	 	Damian C. Georgino
		 	Title:	 	Vice President

 [Signature Page to Registration Rights Agreement] 

					
	ACCEPTED AND AGREED TO:
	
	JEFFERIES & COMPANY, INC.
		
	By:	 	 /s/ Stephen Straty

		 	Name:	 	Stephen Straty
		 	Title:	 	Managing Director
	
	WELLS FARGO SECURITIES, LLC
		
	By:	 	 /s/ Jeff Gore

		 	Name:	 	Jeff Gore
		 	Title:	 	Managing Director
	
	CREDIT SUISSE SECURITIES (USA) LLC
		
	By:	 	 /s/ Dan Gitlin

		 	Name:	 	Dan Gitlin
		 	Title:	 	Managing Director

 [Signature Page to Registration Rights Agreement] 

 SCHEDULE I 

INITIAL PURCHASERS 
 JEFFERIES & COMPANY, INC. 
 WELLS FARGO SECURITIES, LLC 

CREDIT SUISSE SECURITIES (USA) LLC 
 RBS SECURITIES INC. 
 ROTH CAPITAL PARTNERS, LLC 

 EXHIBIT A 

JOINDER AGREEMENT 

[—], 2012 
 Pursuant to Section 5(s) of the Purchase Agreement, such section being an inducement to the Initial Purchasers to enter into the Purchase Agreement, [each of] the undersigned hereby execute[s] this
joinder agreement (the “Joinder Agreement”), whereby [each of] the undersigned agree[s] to accede, as a Guarantor, to the terms, applicable to Guarantors, of the registration rights agreement (the “Registration Rights
Agreement), dated as of November 5, 2012 (the “Closing Date”), among Heckmann Corporation, a Delaware corporation (the “Company”), the Guarantors named therein and the Initial Purchasers. Capitalized terms
used in this Joinder Agreement without definition have the respective meanings given to them in the Registration Rights Agreement. 
 [Each of]
the undersigned undertake[s] to perform all of the obligations of the Guarantors set forth in the Registration Rights Agreement, as though [each of] the undersigned had entered into the Registration Rights Agreement on the Closing Date. [Each of]
the undersigned agree[s] that such obligations include, without limitation, (a) its assumption of all of the obligations of the Guarantors to perform and comply with all of the agreements thereof contained in the Registration Rights Agreement
and (b) its assumption, to the same extent as set forth therein and on a joint and several basis, of all of the Guarantors’ indemnification and other obligations contained in Section 8 of the Registration Rights Agreement. 

This Joinder Agreement shall be governed and construed in accordance with the laws of the state of New York applicable to agreements made and to be
performed in New York State. 
 This Joinder Agreement may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page by facsimile, e-mail or other
electronic means shall be effective as delivery of a manually executed counterpart. 
 [Remainder
of page left blank] 

 IN WITNESS WHEREOF, the undersigned [has/have] executed this Joinder Agreement as of the date first written
above. 
  

			
	[NAME OF GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:Fourth Supplemental Indenture

 Exhibit 4.1 
 Execution Copy 
 FOURTH SUPPLEMENTAL INDENTURE 

Dated as of November 7, 2012 
 to 
 INDENTURE 

Dated as of May 18, 2009 
 Between 
 MICROSOFT CORPORATION, 

as Issuer 

and 

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

 
 0.875% Notes
due 2017 
 2.125% Notes due 2022 
 3.500% Notes due 2042 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE 1. DEFINITIONS
	  	 	2	  
			
	 Section 1.1.
	 	 Definition of Terms
	  	 	2	  
		
	 ARTICLE 2. TERMS AND CONDITIONS OF NOTES
	  	 	2	  
			
	 Section 2.1.
	 	 Designation and Principal Amount
	  	 	2	  
	 Section 2.2.
	 	 Maturity
	  	 	2	  
	 Section 2.3.
	 	 Further Issues
	  	 	3	  
	 Section 2.4.
	 	 Payment
	  	 	3	  
	 Section 2.5.
	 	 Global Securities
	  	 	3	  
	 Section 2.6.
	 	 Interest
	  	 	3	  
	 Section 2.7.
	 	 Authorized Denominations
	  	 	4	  
	 Section 2.8.
	 	 Redemption and Sinking Fund
	  	 	4	  
	 Section 2.9.
	 	 Ranking
	  	 	4	  
	 Section 2.10.
	 	 Appointments
	  	 	4	  
	 Section 2.11.
	 	 Defeasance
	  	 	4	  
		
	 ARTICLE 3. FORM OF NOTES
	  	 	4	  
			
	 Section 3.1.
	 	 Form of Notes
	  	 	4	  
		
	 ARTICLE 4. ORIGINAL ISSUE OF NOTES
	  	 	4	  
			
	 Section 4.1.
	 	 Original Issue of Notes
	  	 	4	  
		
	 ARTICLE 5. MISCELLANEOUS
	  	 	5	  
			
	 Section 5.1.
	 	 Ratification of Indenture
	  	 	5	  
	 Section 5.2.
	 	 Trustee Not Responsible for Recitals
	  	 	5	  
	 Section 5.3.
	 	 Governing Law
	  	 	5	  
	 Section 5.4.
	 	 Separability
	  	 	5	  
	 Section 5.5.
	 	 Counterparts
	  	 	5	  
		
	 EXHIBIT A – Form of 2017 Notes
	  	 	A-1	  
		
	 EXHIBIT B – Form of 2022 Notes
	  	 	B-1	  
		
	 EXHIBIT C – Form of 2042 Notes
	  	 	C-1	  

 FOURTH SUPPLEMENTAL INDENTURE, dated as of November 7, 2012 (this “Supplemental
Indenture”), between MICROSOFT CORPORATION, a corporation duly organized and existing under the laws of the State of Washington (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking
association duly organized and existing under the laws of the United States, as Trustee (the “Trustee”). 

RECITALS OF THE COMPANY 
 WHEREAS, the Company executed and delivered to the Trustee the Indenture, dated as of May 18, 2009, (the “Indenture”), to provide for the issuance of the Company’s debt
securities (the “Securities”), to be issued in one or more series, a First Supplemental Indenture, dated as of May 18, 2009, a Second Supplemental Indenture, dated as of September 27, 2010, and a Third Supplemental
Indenture, dated as of February 9, 2011; 
 WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide
for the establishment of three new series of its Securities under the Indenture to be known as its “0.875% Notes due 2017” (the “2017 Notes”), “2.125% Notes due 2022” (the “2022 Notes”) and
“3.500% Notes due 2042” (the “2042 Notes” and, together with the 2017 Notes and the 2022 Notes, the “Notes”), the form and substance and the terms, provisions and conditions thereof to be set forth as
provided in the Indenture and this Supplemental Indenture; 
 WHEREAS, the Board of Directors of the Company by duly adopted
resolutions has authorized the proper officers of the Company to, among other things, determine the terms of the Securities to be issued under the Indenture and execute any and all appropriate documents necessary or appropriate to effect each such
issuance; 
 WHEREAS, this Supplemental Indenture is being entered into pursuant to the provisions of Section 901(7) of the
Indenture; 
 WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture; and

 WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the Company, in accordance with its
terms, and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this Supplemental Indenture has been duly
authorized in all respects; 
 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, and for the purpose of setting forth, as
provided in the Indenture, the forms and terms of the Notes, the Company covenants and agrees, with the Trustee, as follows: 

 ARTICLE 1. 
 DEFINITIONS 
 Section 1.1. Definition of Terms. Unless the context
otherwise requires: 
 (a) each term defined in the Indenture has the same meaning when used in this Supplemental Indenture;

 (b) the singular includes the plural, and vice versa; and 

(c) headings are for convenience of reference only and do not affect interpretation. 

ARTICLE 2. 

TERMS AND CONDITIONS OF NOTES 
 Section 2.1. Designation and Principal Amount. 
 (a) There is hereby
authorized and established a series of Securities under the Indenture, designated as the “0.875% Notes due 2017,” which is initially limited in aggregate principal amount to $600,000,000 (except upon registration of transfer of, or in
exchange for, or in lieu of, other 2017 Notes pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and
delivered). 
 (b) There is hereby authorized and established a series of Securities under the Indenture, designated as the
“2.125% Notes due 2022,” which is initially limited in aggregate principal amount to $750,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other 2022 Notes pursuant to Section 304, 305, 306, 906 or
1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered). 
 (c) There is hereby authorized and established a series of Securities under the Indenture, designated as the “3.500% Notes due 2042,” which is initially limited in aggregate principal amount to
$900,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other 2042 Notes pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the
Indenture, are deemed never to have been authenticated and delivered). 
 Section 2.2. Maturity. 

(a) The Stated Maturity of principal of the 2017 Notes shall be November 15, 2017. 

  
 2 

 (b) The Stated Maturity of principal of the 2022 Notes shall be November 15, 2022.

 (c) The Stated Maturity of principal of the 2042 Notes shall be November 15, 2042. 

Section 2.3. Further Issues. The Company may at any time and from time to time, without the consent of the Holders of any series
of the Notes, issue additional notes of any series; provided that such additional notes are fungible for U.S. federal income tax purposes with the relevant series of Notes. Any such additional notes shall have the same ranking, interest rate,
maturity date and other terms as the relevant series of the Notes. Any such additional notes of a series, together with the Notes of the relevant series herein provided for, shall constitute a single series of Securities under the Indenture.

 Section 2.4. Payment. Principal of and interest on the Notes shall be payable in U.S. dollars in immediately available
funds at the office or agency of the Company maintained for such purpose in New York, New York, which shall initially be at an office of the Trustee located at 101 Barclay Street, 8W, New York, New York 10286, Attention: Corporate Trust
Administration; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as shall appear in the Security Register at the close of business on the Record Date for
such Holder or by wire transfer to an account appropriately designated by the Holder to the Company and the Trustee; and provided, further, that the Company will pay principal of and interest on, the Notes in global form registered in
the name of or held by The Depository Trust Company (“DTC”) or such other Depositary as any Officer of the Company may from time to time designate, or its respective nominee, by wire in immediately available funds to such Depositary
or its nominee, as the case may be, as the registered holder of such Notes in global form. 
 Section 2.5. Global
Securities. Upon the original issuance, the Notes will be represented by Global Securities registered in the name of Cede & Co., the nominee of DTC. The Company will deposit the Global Securities with DTC or its custodian and register
the Global Securities in the name of Cede & Co. 
 Section 2.6. Interest. 

(a) The 2017 Notes will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from November 7,
2012 at the rate of 0.875% per annum, payable semi-annually in arrears. Interest payable on each Interest Payment Date will include interest accrued from November 7, 2012, or from the most recent Interest Payment Date to which interest has
been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are May 15 and November 15, commencing on May 15, 2013; and the Record Date for the interest payable on any Interest Payment Date is
the close of business on May 1 or November 1, as the case may be, next preceding the relevant Interest Payment Date. 

(b) The 2022 Notes will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from November 7,
2012 at the rate of 2.125% per 

  
 3 

 
annum, payable semi-annually in arrears. Interest payable on each Interest Payment Date will include interest accrued from November 7, 2012, or from the most recent Interest Payment Date to
which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are May 15 and November 15, commencing on May 15, 2013; and the Record Date for the interest payable on any Interest
Payment Date is the close of business on May 1 or November 1, as the case may be, next preceding the relevant Interest Payment Date. 
 (c) The 2042 Notes will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from November 7, 2012 at the rate of 3.500% per annum, payable semi-annually in
arrears. Interest payable on each Interest Payment Date will include interest accrued from November 7, 2012, or from the most recent Interest Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which
such interest shall be payable are May 15 and November 15, commencing on May 15, 2013; and the Record Date for the interest payable on any Interest Payment Date is the close of business on May 1 or November 1, as the case
may be, next preceding the relevant Interest Payment Date. 
 Section 2.7. Authorized Denominations. The Notes shall be
issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 Section 2.8. Redemption and
Sinking Fund. The Notes shall not be redeemable at the option of the Company or at the option of the Holders except as set forth in the Notes. The Notes shall not be entitled to the benefit of any sinking fund. 

Section 2.9. Ranking. The Notes shall be senior unsecured debt securities of the Company, ranking equally with the Company’s
other unsecured and unsubordinated debt. 
 Section 2.10. Appointments. The Trustee will be the initial Security
Registrar and initial Paying Agent for the Notes. 
 Section 2.11. Defeasance. The Company may elect, at its option at
any time, pursuant to Section 1301 of the Indenture, to have Section 1302 or Section 1303 in the Indenture, or both, apply to the 2017 Notes, the 2022 Notes or the 2042 Notes, or all, or any principal amount thereof. 

ARTICLE 3. 

FORM OF NOTES 
 Section 3.1. Form of Notes. The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the forms set forth in Exhibits A, B and C hereto.

 ARTICLE 4. 
 ORIGINAL ISSUE OF NOTES 
 Section 4.1. Original Issue of Notes. The
Notes may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon Company Order, authenticate and deliver such Notes as in such Company Order provided.

  
 4 

 ARTICLE 5. 
 MISCELLANEOUS 
 Section 5.1. Ratification of Indenture. The
Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided,
however, that the provisions of this Supplemental Indenture shall apply solely with respect to the Notes. 
 Section 5.2.
Trustee Not Responsible for Recitals. The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity
or sufficiency of this Supplemental Indenture. 
 Section 5.3. 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. 
 Section 5.4. Separability.
In case any one or more of the provisions contained in the Indenture, this Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall
not affect any other provisions of the Indenture, this Supplemental Indenture or the Notes, but the Indenture, this Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been
contained herein or therein. 
 Section 5.5. Counterparts. This Supplemental Indenture may be executed in any number of
counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 
 [Signature page follows] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be
duly executed, all as of the day and year first above written. 
  

					
	MICROSOFT CORPORATION
		
	By:	 	 /s/ George Zinn

		 	Name:	 	George H. Zinn
		 	Title:	 	Corporate Vice President, Treasurer
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 /s/ Teresa Petta

		 	Name:	 	Teresa Petta
		 	Title:	 	Vice President

 EXHIBIT A 
 [FORM OF NOTE] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY 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. 
 TRANSFERS OF THIS GLOBAL 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 AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 MICROSOFT CORPORATION 
 0.875% Notes due 2017 
 CUSIP No.: 594918 AP9 

ISIN: US594918AP95 
  

			
	No. A-[1][2]	 	$[500,000,000][100,000,000]

 MICROSOFT CORPORATION, a corporation duly incorporated under the laws of the State of Washington (herein
called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
$[500,000,000][100,000,000] ([FIVE HUNDRED][ONE HUNDRED] MILLION DOLLARS) on November 15, 2017, and to pay interest thereon from November 7, 2012 or from the most recent Interest Payment Date to which

  
 A-1

 
interest has been paid or duly provided for, semi-annually on May 15 and November 15 of each year, commencing on May 15, 2013 at the rate of 0.875% per annum, until the
principal hereof is paid or made available for payment; provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of 0.875% per annum (to the extent permitted by
applicable law), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. 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 Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 1 or
November 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. 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 Note (or one or more Predecessor 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 Notes of this series 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 any securities
exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
 Reference is hereby made to the further provisions of this 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 Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-2

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

Dated: November 7, 2012 
  

					
	MICROSOFT CORPORATION
		
	By:	 	  

		 	Name:	 	George H. Zinn
		 	Title:	 	Corporate Vice President, Treasurer

  
 A-3

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: November 7, 2012 

 

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

		 	Authorized Signatory

  
 A-4

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be
issued in one or more series under an Indenture, dated as of May 18, 2009, and a supplemental indenture relating to such series dated as of November 7, 2012 (herein, collectively called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon 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 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 Notes are,
and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $600,000,000; provided that the Company may at any time and from time to
time, without the consent of any Holder, issue additional Notes of this series. 
 The Notes of this series are not redeemable
at the option of the Holders. 
 The Notes shall be redeemable in whole or in part, at any time or from time to time, at the
Company’s option, on at least 30 days’ but not more than 60 days’ prior notice mailed to the registered address of each Holder of Notes to be redeemed, at a redemption price (the “Redemption Price”) equal to the
greater of: (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of each remaining scheduled payment of principal and interest on the Notes to be redeemed (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 5 basis points. 
 The Redemption Price for any Notes redeemed pursuant to the preceding paragraph shall include accrued and unpaid interest on the principal amount of such Notes to the Redemption Date. 

For purposes of the foregoing two paragraphs, the following terms shall have the following specified meanings: 

“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 Notes 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 Notes. 
 “Comparable Treasury Price” means, with
respect to any Redemption Date (A) the arithmetic average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (B) if the Company obtains
fewer than four such Reference Treasury Dealer Quotations, the arithmetic average of all such quotations for such Redemption Date. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

  
 A-5

 “Reference Treasury Dealer” means Barclays Capital Inc., J.P. Morgan Securities
LLC and UBS Securities LLC, or their respective affiliates, which are primary U.S. government securities dealers in the United States of America and their respective successors plus one other primary U.S. government securities dealer in the United
States of America designated by the Company; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”),
the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotation” means,
with respect to each Reference Treasury Dealer and any Redemption Date, the arithmetic average, as determined by the Company, of the bid and asked prices for the applicable 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 City time) on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated maturity (on a day count basis) of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date. 
 The provisions of Article XI of the Indenture shall apply to any redemption of the Notes.

 The Notes of this series are not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes of this series or certain
restrictive covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of such Notes may be declared, or shall immediately become, due and payable in the manner and with
the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in aggregate principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Notes of each
series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any 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 Note. 

  
 A-6

 As provided in and subject to the provisions of the Indenture, the Holders of the Notes of
this series 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 have previously given the Trustee written
notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series 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 a majority in aggregate principal amount of such Notes at the time
Outstanding a direction inconsistent with such 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 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 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 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 Note is registrable in the Security Register, upon surrender of this 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 Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Notes of this series 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, Notes of this series are exchangeable for a like principal amount of Notes of this series 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 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Note is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations
in Section 305 thereof on transfers and exchanges of Global Securities. 

  
 A-7

 This Note and the Indenture shall be governed by, and construed in accordance with, the laws
of the State of New York. 
 All terms used in this Note which are defined in the Indenture shall have the meanings assigned to
them in the Indenture. 

  
 A-8

 EXHIBIT B 
 [FORM OF NOTE] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY 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. 
 TRANSFERS OF THIS GLOBAL 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 AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 MICROSOFT CORPORATION 
 2.125% Notes due 2022 
 CUSIP No.: 594918 AQ7 

ISIN: US594918AQ78 
  

			
	No. A-[1][2]	 	$[500,000,000][250,000,000]

 MICROSOFT CORPORATION, a corporation duly incorporated under the laws of the State of Washington (herein
called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
$[500,000,000][250,000,000] ([FIVE HUNDRED][TWO HUNDRED FIFTY] MILLION DOLLARS) on November 15, 2022, and to pay interest thereon from November 7, 2012 or from the most recent Interest Payment Date to which interest has been paid or duly
provided for, semi-annually on May 15 and November 15 of 

  
 B-1

 
each year, commencing on May 15, 2013 at the rate of 2.125% per annum, until the principal hereof is paid or made available for payment; provided that any principal and premium,
and any such installment of interest, which is overdue shall bear interest at the rate of 2.125% per annum (to the extent permitted by applicable law), from the dates such amounts are due until they are paid or made available for payment, and
such interest shall be payable on demand. 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 Note (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 1 or November 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. 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 Note (or one or more Predecessor 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 Notes of this series 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 any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more
fully provided in the Indenture. 
 Reference is hereby made to the further provisions of this 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 Note 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 Note to be duly executed. 

Dated: November 7, 2012 
  

					
	MICROSOFT CORPORATION
		
	By:	 	  

		 	Name:	 	George H. Zinn
		 	Title:	 	Corporate Vice President, Treasurer

  
 B-3

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: November 7, 2012 

 

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

		 	Authorized Signatory

  
 B-4

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be
issued in one or more series under an Indenture, dated as of May 18, 2009, and a supplemental indenture relating to such series dated as of November 7, 2012 (herein, collectively called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon 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 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 Notes are,
and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $750,000,000; provided that the Company may at any time and from time to
time, without the consent of any Holder, issue additional Notes of this series. 
 The Notes of this series are not redeemable
at the option of the Holders. 
 The Notes shall be redeemable in whole or in part, at any time or from time to time, at the
Company’s option, on at least 30 days’ but not more than 60 days’ prior notice mailed to the registered address of each Holder of Notes to be redeemed, at a redemption price (the “Redemption Price”) equal to the
greater of: (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of each remaining scheduled payment of principal and interest on the Notes to be redeemed (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 10 basis points. 

The Redemption Price for any Notes redeemed pursuant to the preceding paragraph shall include accrued and unpaid interest on the
principal amount of such Notes to the Redemption Date. 
 For purposes of the foregoing two paragraphs, the following terms
shall have the following specified meanings: 
 “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 Notes 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 Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date (A) the arithmetic average of the Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (B) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the arithmetic
average of all such quotations for such Redemption Date. 
 “Independent Investment Banker” means one of the Reference
Treasury Dealers appointed by the Company. 

  
 B-5

 “Reference Treasury Dealer” means Barclays Capital Inc., J.P. Morgan Securities
LLC and UBS Securities LLC, or their respective affiliates, which are primary U.S. government securities dealers in the United States of America and their respective successors plus one other primary U.S. government securities dealer in the United
States of America designated by the Company; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”),
the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotation” means,
with respect to each Reference Treasury Dealer and any Redemption Date, the arithmetic average, as determined by the Company, of the bid and asked prices for the applicable 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 City time) on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated maturity (on a day count basis) of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date. 
 The provisions of Article XI of the Indenture shall apply to any redemption of the Notes.

 The Notes of this series are not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes of this series or certain
restrictive covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of such Notes may be declared, or shall immediately become, due and payable in the manner and with
the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in aggregate principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Notes of each
series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any 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 Note. 

  
 B-6

 As provided in and subject to the provisions of the Indenture, the Holders of the Notes of
this series 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 have previously given the Trustee written
notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series 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 a majority in aggregate principal amount of such Notes at the time
Outstanding a direction inconsistent with such 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 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 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 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 Note is registrable in the Security Register, upon surrender of this 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 Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Notes of this series 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, Notes of this series are exchangeable for a like principal amount of Notes of this series 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 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Note is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations
in Section 305 thereof on transfers and exchanges of Global Securities. 

  
 B-7

 This Note and the Indenture shall be governed by, and construed in accordance with, the laws
of the State of New York. 
 All terms used in this Note which are defined in the Indenture shall have the meanings assigned to
them in the Indenture. 

  
 B-8

 EXHIBIT C 
 [FORM OF NOTE] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY 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. 
 TRANSFERS OF THIS GLOBAL 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 AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 MICROSOFT CORPORATION 
 3.500% Notes due 2042 
 CUSIP No.: 594918 AR5 

ISIN: US594918AR51 
  

			
	No. A-[1][2]	 	$[500,000,000][400,000,000]

 MICROSOFT CORPORATION, a corporation duly incorporated under the laws of the State of Washington (herein
called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of
$[500,000,000][400,000,000] ([FIVE HUNDRED][FOUR HUNDRED] MILLION DOLLARS) on November 15, 2042, and to pay interest thereon from November 7, 2012 or from the most recent Interest Payment Date to which

  
 C-1

 
interest has been paid or duly provided for, semi-annually on May 15 and November 15 of each year, commencing on May 15, 2013 at the rate of 3.500% per annum, until the
principal hereof is paid or made available for payment; provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of 3.500% per annum (to the extent permitted by
applicable law), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. 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 Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 1 or
November 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. 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 Note (or one or more Predecessor 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 Notes of this series 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 any securities
exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
 Reference is hereby made to the further provisions of this 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 Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 C-2

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

Dated: November 7, 2012 
  

					
	MICROSOFT CORPORATION
		
	By:	 	  

		 	Name:	 	George H. Zinn
		 	Title:	 	Corporate Vice President, Treasurer

  
 C-3

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: November 7, 2012 

 

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

		 	Authorized Signatory

  
 C-4

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be
issued in one or more series under an Indenture, dated as of May 18, 2009, and a supplemental indenture relating to such series dated as of November 7, 2012 (herein, collectively called the “Indenture,” which term shall
have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon 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 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 Notes are,
and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $900,000,000; provided that the Company may at any time and from time to
time, without the consent of any Holder, issue additional Notes of this series. 
 The Notes of this series are not redeemable
at the option of the Holders. 
 The Notes shall be redeemable in whole or in part, at any time or from time to time, at the
Company’s option, on at least 30 days’ but not more than 60 days’ prior notice mailed to the registered address of each Holder of Notes to be redeemed, at a redemption price (the “Redemption Price”) equal to the
greater of: (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of each remaining scheduled payment of principal and interest on the Notes to be redeemed (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 12.5 basis points. 

The Redemption Price for any Notes redeemed pursuant to the preceding paragraph shall include accrued and unpaid interest on the
principal amount of such Notes to the Redemption Date. 
 For purposes of the foregoing two paragraphs, the following terms
shall have the following specified meanings: 
 “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 Notes 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 Notes. 

“Comparable Treasury Price” means, with respect to any Redemption Date (A) the arithmetic average of the Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (B) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the arithmetic
average of all such quotations for such Redemption Date. 
 “Independent Investment Banker” means one of the Reference
Treasury Dealers appointed by the Company. 

  
 C-5

 “Reference Treasury Dealer” means Barclays Capital Inc., J.P. Morgan Securities
LLC and UBS Securities LLC, or their respective affiliates, which are primary U.S. government securities dealers in the United States of America and their respective successors plus one other primary U.S. government securities dealer in the United
States of America designated by the Company; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”),
the Company shall substitute therefor another Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotation” means,
with respect to each Reference Treasury Dealer and any Redemption Date, the arithmetic average, as determined by the Company, of the bid and asked prices for the applicable 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 City time) on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated maturity (on a day count basis) of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury
Price for such Redemption Date. 
 The provisions of Article XI of the Indenture shall apply to any redemption of the Notes.

 The Notes of this series are not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes of this series or certain
restrictive covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of such Notes may be declared, or shall immediately become, due and payable in the manner and with
the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in aggregate principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Notes of each
series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any 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 Note. 

  
 C-6

 As provided in and subject to the provisions of the Indenture, the Holders of the Notes of
this series 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 have previously given the Trustee written
notice of a continuing Event of Default with respect to the Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series 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 a majority in aggregate principal amount of such Notes at the time
Outstanding a direction inconsistent with such 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 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 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 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 Note is registrable in the Security Register, upon surrender of this 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 Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Notes of this series 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, Notes of this series are exchangeable for a like principal amount of Notes of this series 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 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Note is a Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations
in Section 305 thereof on transfers and exchanges of Global Securities. 

  
 C-7

 This Note and the Indenture shall be governed by, and construed in accordance with, the laws
of the State of New York. 
 All terms used in this Note which are defined in the Indenture shall have the meanings assigned to
them in the Indenture. 

  
 C-8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}]]