Document:

exv4w3

 

EXHIBIT 4.3

CONOCOPHILLIPS

Floating Rate Notes due April 11, 2007

Fully and Unconditionally Guaranteed by

CONOCOPHILLIPS COMPANY

          One series of Securities is hereby established pursuant to Section 2.01 of the Indenture,
dated as of October 9, 2002 (the “Indenture”), among ConocoPhillips, as issuer (the “Company”),
ConocoPhillips Company, as guarantor (the “Guarantor”), and The Bank of New York Trust Company,
N.A., as trustee (the “Trustee”), as follows:

          1.      Each capitalized term used but not defined herein shall have the meaning assigned to such
term in the Indenture.

          2.      The title of the Floating Rate Notes due April 11, 2007 shall be “Floating Rate Notes due
April 11, 2007” (the “Notes”).

          3.      The limit upon the aggregate principal amount of the Notes that may be authenticated and
delivered under the Indenture (except for Notes authenticated and delivered upon registration of
transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 2.08, 2.09, 2.12,
2.17, 3.07 or 9.05 of the Indenture and except for any Notes which, pursuant to Section 2.04 or
2.17 of the Indenture, are deemed never to have been authenticated and delivered thereunder) is
$1,000,000,000; provided, however, that the authorized aggregate principal amount of the Notes may
be increased before or after the issuance of any Notes by a Board Resolution (or action pursuant to
a Board Resolution) to such effect; provided further, however, that the authorized aggregate
principal amount of the Notes may be increased only if the additional Notes issued will be fungible
with the original Notes for United States federal income tax purposes.

          4.      The Notes shall be issued upon original issuance in whole in the form of one or more Global
Securities (the “Global Notes”). The Depository Trust Company and the Trustee are hereby
designated as the Depositary and the Security Custodian, respectively, for the Global Notes under
the Indenture.

          5.      The Notes and the Trustee’s certificate of authentication shall be substantially in the
form of Annex A hereto (the “Form of Note”).

          6.      The date on which the principal of the Notes is payable shall be April 11, 2007.

          7.      Interest shall be payable in accordance with the provisions of paragraph 1 of the Notes and
shall be calculated in accordance with the provisions of paragraph 2 of the Notes. No Additional
Amounts with respect to the Notes shall be payable. The date from which interest shall accrue for
the Notes shall be April 11, 2006. The Interest Payment Dates on which such interest shall be
payable shall be January 11, April 11, July 11 and October 11 of each year, commencing July 11,
2006. The record dates for the interest payable on the Notes on any

 

 

Interest Payment Date shall be the January 1, April 1, July 1 and October 1, as the case may
be, next preceding such Interest Payment Date.

          8.      The place or places where the principal of, premium (if any) on and interest on the Notes
shall be payable shall be the office or agency of the Company maintained for that purpose,
initially the office of the Trustee, in The City of New York, and any other office or agency
maintained by the Company for such purpose. Payments in respect of Global Notes (including
principal, premium, if any, and interest) shall be made by wire transfer of immediately available
funds to the accounts specified by the Holder of such Notes. In all other cases, at the option of
the Company, payment of interest may be made by check mailed to the address of the person entitled
thereto as such address shall appear in the register of the Notes maintained by the Registrar.

          9.      The Paying Agent, Registrar and Calculation Agent (as defined in the Form of Note) for the
Notes initially shall be the Trustee.

          10.      The Notes are not subject to redemption at the option of the Company, and the Company
shall have no obligation to redeem, purchase or repay Notes pursuant to any sinking fund or
analogous provision or at the option of a Holder thereof.

          11.      Each Global Note shall bear the legend set forth on the face of the Form of Note.

 

 

Annex A

[FORM OF FACE OF SECURITY]

[Unless and until it is exchanged in whole or in part for Securities in definitive form, this
Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.
The Depository Trust Company (55 Water Street, New York, New York), a New York corporation
(“DTC”), shall act as the Depositary until a successor shall be appointed by the Company and the
Registrar. Unless this certificate is presented by an authorized representative of DTC to the
issuer 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.]*

CONOCOPHILLIPS

FLOATING RATE NOTE DUE APRIL 11, 2007

FULLY AND UNCONDITIONALLY GUARANTEED BY

CONOCOPHILLIPS COMPANY

CUSIP No._____________

			
	No._____________	 	$_____________

          ConocoPhillips,
a Delaware corporation (the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), for value received, promises to pay to
_______________ or registered assigns, the principal
sum of __________________________
Dollars[, or such greater or lesser amount as indicated on the Schedule of Exchanges of Securities hereto,]* on
April 11, 2007.

	 	 	 
	Interest Payment Dates:
	 	January 11, April 11, July 11 and October 11
	 
	Record Dates:
	 	January 1, April 1, July 1 and October 1

          Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

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          IN WITNESS WHEREOF, the Company has caused this Security to be signed manually or by facsimile
by its duly authorized officers.

Dated:

	 	 	 	 	 
	 	CONOCOPHILLIPS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

GUARANTEE

          ConocoPhillips Company, a Delaware corporation, unconditionally guarantees to the holder of
this Security, upon the terms and subject to the conditions set forth in the Indenture referenced
on the reverse hereof, (a) the full and prompt payment of the principal of and any premium on this
Security when and as the same shall become due, whether at the stated maturity thereof, by
acceleration, redemption or otherwise, and (b) the full and prompt payment of interest on this
Security when and as the same shall become due, subject to any applicable grace period.

	 	 	 	 	 
	 	CONOCOPHILLIPS COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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Certificate of Authentication:

This is one of the Securities of the series

designated therein referred to in the within-

mentioned Indenture.

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

as Trustee

	 	 	 	 	 
	By:

	 	 	 	 
	 

	 	 	 	 
	 

	 	Authorized Signatory	 	 

 

			
	*	 	To be included only if the Security is a Global Security.

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[FORM OF REVERSE OF SECURITY]

CONOCOPHILLIPS

FLOATING RATE NOTE DUE APRIL 11, 2007

FULLY AND UNCONDITIONALLY GUARANTEED BY

CONOCOPHILLIPS COMPANY

          This Security is one of a duly authorized issue of Floating Rate Notes due April 11, 2007 (the
“Securities”) of ConocoPhillips, a Delaware corporation (the “Company”).

          1.      Interest. The Company promises to pay interest on the principal amount of this Security as
set forth below from, and including, April 11, 2006 until maturity. The Company will pay interest
quarterly on January 11, April 11, July 11 and October 11 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each an “Interest Payment Date”); provided that,
if the next succeeding Business Day is in the next succeeding calendar month, such Interest Payment
Date shall be the next preceding Business Day. Interest on the Securities will accrue from, and
including, the most recent Interest Payment Date on which interest has been paid or, if no interest
has been paid, from, and including, April 11, 2006; provided that if there is no existing Default
in the payment of interest, and if this Security is authenticated between a record date referred to
on the face hereof (each, a “Record Date”) and the next succeeding Interest Payment Date, interest
shall accrue from, and including, such next succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date shall be July 11, 2006. The Company shall pay interest on
overdue principal and premium (if any) from time to time at a rate equal to the interest rate then
in effect; it shall pay interest on overdue installments of interest (without regard to any
applicable grace periods) from time to time at the same rate to the extent lawful. The period
beginning on, and including, April 11, 2006 and ending on, but excluding, the next Interest Payment
Date thereafter, and each successive three-month period beginning on, and including, an Interest
Payment Date and ending on, but excluding, the next succeeding Interest Payment Date is herein
called an “Interest Period.”

          2.      Calculation of Interest.

          (a)      The rate of interest payable from time to time in respect of the Securities (the “Rate of
Interest”) shall be a floating rate subject to adjustment once for each Interest Period and
determined by reference to LIBOR, determined as described below. All percentages resulting from
any calculation of the Rate of Interest on the Securities shall be rounded to the nearest one
hundred-thousandth of a percentage point, with five one millionths of a percentage point rounded
upwards (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655)), and all Dollar
amounts used in or resulting from such calculation on the Securities shall be rounded to the
nearest cent (with one-half cent being rounded upward).

          The Rate of Interest in effect on each day that is not an Interest Reset Date (as defined
below) shall be the Rate of Interest determined as of the Interest Determination Date (as defined
below) in respect of the next preceding Interest Reset Date. The Rate of Interest in effect

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on each day that is an Interest Reset Date shall be the Rate of Interest determined as of the
Interest Determination Date in respect of such Interest Reset Date.

          (b)      The Calculation Agent shall reset the Rate of Interest on each Interest Payment Date and
on April 11, 2006 (each, an “Interest Reset Date”). On the second London Business Day (or, for
purposes of the third sentence of paragraph (c) below, the Business Day) next preceding each
Interest Reset Date (each, an “Interest Determination Date”), The Bank of New York Trust Company,
N.A., or its successor in this capacity (the “Calculation Agent”), shall calculate the Rate of
Interest for the following Interest Period as, subject to the provisions described below, the rate
per annum equal to the rate for deposits in United States dollars having a maturity of three months
commencing on the first day of such Interest Period that appears on the Telerate Page (as defined
below) as of 11:00 a.m., London time, on such Interest Determination Date. “London Business Day”
means any day on which dealings in United States dollars are transacted in the London interbank
market.

          (c)      If no such rate appears on the Telerate Page as specified in paragraph (b) above, the
Calculation Agent shall request the principal London offices of each of four major reference banks
in the London interbank market, as selected by the Calculation Agent (after consultation with the
Company), to provide the Calculation Agent with its offered quotation for deposits in United States
dollars for the period of three months, commencing on the first day of the applicable Interest
Period, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on
such Interest Determination Date and in a principal amount equal to an amount not less than
$1,000,000 that is representative for a single transaction in United States dollars in that market
at that time. If at least two quotations are provided, then LIBOR on such Interest Determination
Date shall be the arithmetic mean of such quotations. If fewer than two quotations are provided,
then LIBOR on such Interest Determination Date shall be the arithmetic mean of the rates quoted at
approximately 11:00 a.m., in The City of New York, on the Interest Determination Date by three
major banks in The City of New York selected by the Calculation Agent (after consultation with the
Company) for loans in United States dollars to leading European banks, having a three-month
maturity and in a principal amount equal to an amount not less than $1,000,000 that is
representative for a single transaction in that market at that time. If, however, the banks
selected by the Calculation Agent are not providing quotations in the manner described by the
previous sentence, LIBOR determined as of such Interest Determination Date shall be LIBOR in effect
on such Interest Determination Date.

          “Telerate Page” means the display page designated as “Page 3750” on Moneyline Telerate, Inc.,
or any successor service or services as may be nominated by the British Bankers’ Association, for
the purpose of displaying the London interbank rates of major banks for United States dollars.

          (d)      On each Interest Determination Date, the Calculation Agent shall determine the Rate of
Interest and calculate the amount of interest payable in respect of the following Interest Period
(the “Interest Amount”). The Interest Amount shall be calculated by applying the Rate of Interest
to the principal amount of each Security outstanding at the commencement of the Interest Period,
multiplying each such amount by the actual number of days in the Interest Period concerned (which
actual number of days shall include the first day but exclude the last day of such Interest Period)
divided by 360 and rounding the resultant figure to the nearest cent (half a cent being rounded
upwards). The determination of the Rate of Interest

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and the Interest Amount by the Calculation Agent shall (in the absence of manifest error) be final
and binding on all parties.

          (e)      Notwithstanding anything herein to the contrary, the Rate of Interest shall in no event be
higher than the maximum rate permitted by New York law, as the same may be modified by United
States law of general application.

          (f)      Interest shall cease to accrue on this Security on the maturity date unless, upon
presentation of this Security, payment of principal is improperly withheld or refused, in which
case, interest shall continue to accrue.

          3.      Calculation Agent. So long as any of the Securities remain outstanding, the Company shall
maintain under appointment a Calculation Agent, which shall initially be the Trustee (as defined
below), for the purpose of the Securities. If the Trustee shall be unable or unwilling to continue
to act as Calculation Agent or if the Calculation Agent fails to calculate properly the Rate of
Interest for any Interest Period, the Company shall appoint another leading commercial or
investment bank engaged in the London interbank market to act as the Calculation Agent. The
Company may change the Calculation Agent without notice. The Calculation Agent may not resign in
its duties, and the Company may not change the Calculation Agent, without a successor Calculation
Agent having been appointed that meets the requirements of this paragraph.

          All certificates, communications, opinions, determinations, calculations, quotations and
decisions given, expressed, made or obtained for the purposes of the provisions hereof relating to
the payment and calculation of interest on the Securities, whether by the reference banks referred
to in paragraph 2(c) above (or any of them) or the Calculation Agent, shall (in the absence of
manifest error) be binding on the Company, the Calculation Agent and all of the holders and owners
of beneficial interests in this Securities, and no liability shall (in the absence of manifest
error) attach to the Calculation Agent in connection with the exercise or non-exercise by it of its
powers, duties and discretions.

          4.      Method of Payment. The Company will pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders of Securities at the close of business on the
Record Date next preceding the Interest Payment Date, even if such Securities are canceled after
such Record Date and on or before such Interest Payment Date. The Holder must surrender this
Security to a Paying Agent to collect principal payments. The Company will pay the principal of,
premium (if any) on and interest on the Securities in money of the United States of America that at
the time of payment is legal tender for payment of public and private debts. Such amounts shall be
payable at the offices of the Trustee, provided that at the option of the Company, the Company may
pay such amounts (1) by wire transfer with respect to Global Securities or (2) by check payable in
such money mailed to a Holder’s registered address with respect to any Securities.

          5.      Paying Agent and Registrar. Initially, The Bank of New York Trust Company, N.A. (the
“Trustee”), the trustee under the Indenture, will act as Paying Agent and Registrar. The Company
may change any Paying Agent, Registrar, co-registrar or additional paying agent without notice to
any Holder. The Company, the Guarantor or any Subsidiary may act in any such capacity.

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          6.      Guarantee. ConocoPhillips Company, a Delaware corporation (the “Guarantor”),
unconditionally guarantees to the Holders from time to time of the Securities, upon the terms and
subject to the conditions set forth in the Indenture (as defined below), (a) the full and prompt
payment of the principal of and any premium on the Securities when and as the same shall become
due, whether at the Stated Maturity thereof, by acceleration or otherwise, and (b) the full and
prompt payment of any interest on the Securities when and as the same shall become due, subject to
any applicable grace period. The Guarantee constitutes a guarantee of payment and not of
collection. In the event of a default in the payment of principal of or any premium on the
Securities when and as the same shall become due, whether at the Stated Maturity thereof, by
acceleration or otherwise, or in the event of a default in the payment of any interest on the
Securities when and as the same shall become due, each of the Trustee and the Holders of the
Securities shall have the right to proceed first and directly against the Guarantor under the
Indenture without first proceeding against the Company or exhausting any other remedies which the
Trustee or such Holder may have and without resorting to any other security held by it.

          7.      Indenture. The Company issued the Securities under an Indenture, dated as of October 9,
2002 (the “Indenture”), among the Company, the Guarantor and the Trustee. The terms of the
Securities include those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act of 1939, as amended (the “TIA”), as in effect on the date of execution
of the Indenture. The Securities are subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of such terms and for the definitions of capitalized terms
used but not defined herein. The Securities are unsecured general obligations of the Company
limited to $1,000,000,000 in aggregate principal amount; provided, however, that the authorized
aggregate principal amount of the Securities may be increased before or after the issuance of any
Securities by a Board Resolution (or action pursuant to a Board Resolution) to such effect;
provided further, however, that the authorized aggregate principal amount of the Securities may be
increased only if the additional Securities issued will be fungible with the original Securities
for United States federal income tax purposes. The Indenture provides for the issuance of other
series of debt securities (including the Securities, the “Debt Securities”) thereunder.

          8.      Denominations, Transfer, Exchange. The Securities are in registered form without coupons
in denominations of $1,000 and integral multiples of $1,000. The transfer of Securities may be
registered and Securities may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes and fees required by law or permitted by the Indenture.

          9.      Persons Deemed Owners. The registered Holder of a Security shall be treated as its owner
for all purposes.

          10.      Amendments and Waivers. Subject to certain exceptions and limitations, the Indenture or
the Securities may be amended or supplemented with the consent of the Holders of at least a
majority in principal amount of the then outstanding Debt Securities of all series affected by such
amendment or supplement (acting as one class), and any existing or past Default or Event of Default
under, or compliance with any provision of, the Indenture may be waived (other than any continuing
Default or Event of Default in the payment of the principal of,

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premium (if any) on or interest on the Securities) by the Holders of at least a majority in
principal amount of the then outstanding Debt Securities of any series or of all series (acting as
one class) in accordance with the terms of the Indenture. Without the consent of any Holder, the
Company, the Guarantor and the Trustee may amend or supplement the Indenture or the Securities or
waive any provision of either: (i) to cure any ambiguity, omission, defect or inconsistency; (ii)
if required, to provide for the assumption of the obligations of the Company or the Guarantor under
the Indenture in the case of the merger, consolidation or sale, lease, conveyance, transfer or
other disposition of all or substantially all of the assets of the Company or the Guarantor; (iii)
to provide for uncertificated Securities in addition to or in place of certificated Securities or
to provide for the issuance of bearer Securities (with or without coupons); (iv) to provide any
security for, or to add any guarantees of or additional obligors on, the Securities or the related
Guarantees; (v) to comply with any requirement in order to effect or maintain the qualification of
the Indenture under the TIA; (vi) to add to the covenants of the Company or the Guarantor for the
benefit of the Holders of the Securities, or to surrender any right or power conferred by the
Indenture upon the Company or the Guarantor; (vii) to add any additional Events of Default with
respect to all or any series of the Debt Securities; (viii) to change or eliminate any of the
provisions of the Indenture, provided that no outstanding Security is adversely affected in any
material respect; (ix) to supplement any of the provisions of the Indenture to such extent as shall
be necessary to permit or facilitate the defeasance and discharge of the Securities pursuant to the
Indenture; or (x) to evidence and provide for the acceptance of appointment under the Indenture by
a successor Trustee with respect to the Securities and to add to or change any of the provisions of
the Indenture as shall be necessary to provide for or facilitate the administration of the trusts
thereunder by more than one Trustee, pursuant to the requirements of the Indenture.

          The right of any Holder to participate in any consent required or sought pursuant to any
provision of the Indenture (and the obligation of the Company or the Guarantor to obtain any such
consent otherwise required from such Holder) may be subject to the requirement that such Holder
shall have been the Holder of record of any Securities with respect to which such consent is
required or sought as of a date identified by the Company or the Guarantor in a notice furnished to
Holders in accordance with the terms of the Indenture.

          Without the consent of each Holder affected, the Company may not (i) reduce the amount of Debt
Securities whose Holders must consent to an amendment, supplement or waiver; (ii) reduce the rate
of or change the time for payment of interest, including default interest, on any Security; (iii)
reduce the principal of or premium on, or change the Stated Maturity of, any Security; (iv) reduce
the premium, if any, payable upon the redemption of any Security or change the time at which any
Security may or shall be redeemed; (v) change the coin or currency in which any Security or any
premium or interest with respect thereto is payable; (vi) impair the right to institute suit for
the enforcement of any payment of principal of or premium (if any) or interest on any Security,
except as provided in the Indenture; (vii) make any change in the percentage of principal amount of
Debt Securities necessary to waive compliance with certain provisions of the Indenture or make any
change in the provision for modification; or (viii) waive a continuing Default or Event of Default
in the payment of principal of or premium (if any) or interest on the Securities.

          A supplemental indenture that changes or eliminates any covenant or other provision of the
Indenture which has expressly been included solely for the benefit of one or

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more particular series of Debt Securities under the Indenture, or which modifies the rights of
the Holders of Debt Securities of such series with respect to such covenant or other provision,
shall be deemed not to affect the rights under the Indenture of the Holders of Debt Securities of
any other series.

          11.      Defaults and Remedies. Events of Default are defined in the Indenture and generally
include: (i) default for 30 days in payment of any interest on the Securities; (ii) default in any
payment of principal of or premium, if any, on the Securities when due and payable; (iii) default
by the Company or the Guarantor in compliance with any of its other covenants or agreements in, or
provisions of, the Securities or in the Indenture which shall not have been remedied within 90 days
after written notice by the Trustee or by the holders of at least 25% in principal amount of the
Securities then outstanding (or, in the event that other Debt Securities issued under the Indenture
are also affected by the default, then 25% in principal amount of all outstanding Debt Securities
so affected); or (iv) certain events involving bankruptcy, insolvency or reorganization of the
Company or the Guarantor. If an Event of Default occurs and is continuing, the Trustee or the
Holders of at least 25% in principal amount of the then outstanding Securities (or, in the case of
an Event of Default described in clause (iii) above, if outstanding Debt Securities of other series
are affected by such Default, then at least 25% in principal amount of the then outstanding Debt
Securities so affected), may declare the principal of and interest on all the Securities (or such
Debt Securities) to be immediately due and payable, except that in the case of an Event of Default
arising from certain events of bankruptcy, insolvency or reorganization of the Company or the
Guarantor, all outstanding Debt Securities under the Indenture become due and payable immediately
without further action or notice. The amount due and payable upon the acceleration of any Security
is equal to 100% of the principal amount thereof plus accrued interest to the date of payment.
Holders may not enforce the Indenture or the Securities except as provided in the Indenture. The
Trustee may require indemnity satisfactory to it before it enforces the Indenture or the
Securities. Subject to certain limitations, Holders of a majority in principal amount of the then
outstanding Securities (or affected Debt Securities) may direct the Trustee in its exercise of any
trust or power. The Trustee may withhold from Holders notice of any continuing default (except a
default in payment of principal, premium or interest) if it determines that withholding notice is
in their interests. The Company and the Guarantor must furnish annual compliance certificates to
the Trustee.

          12.      Discharge Prior to Maturity. The Indenture with respect to the Securities shall be
discharged and canceled upon the payment of all of the Securities and shall be discharged except
for certain obligations upon the irrevocable deposit with the Trustee of any combination of funds
and U.S. Government Obligations sufficient for such payment.

          13.      Trustee Dealings with Company and Guarantor. The Trustee, in its individual or any other
capacity, may become the owner or pledgee of Securities and may make loans to, accept deposits
from, and perform services for the Company, the Guarantor or any of their respective Affiliates,
and may otherwise deal with the Company, the Guarantor or any such Affiliates, as if it were not
Trustee.

          14.      No Recourse Against Others. A director, officer, employee, stockholder, partner or other
owner of the Company, the Guarantor or the Trustee, as such, shall not have any liability for any
obligations of the Company under the Securities, for any obligations of the

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Guarantor under the Guarantee or for any obligations of the Company, the Guarantor or the
Trustee under the Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. Each Holder by accepting a Security waives and releases all such
liability. The waiver and release shall be part of the consideration for the issue of Securities.

          15.      Authentication. This Security shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent.

          16.      CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the
Securities as a convenience to the Holders of the Securities. No representation is made as to the
accuracy of such numbers as printed on the Securities and reliance may be placed only on the other
identification numbers printed thereon.

          17.      Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

          The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Request may be made to:

          ConocoPhillips

          600 North
Dairy Ashford

          Houston, Texas 77079

          Telephone: (281) 293-1000

          Attention: Treasurer

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          SCHEDULE OF EXCHANGES OF SECURITIES*

     The following exchanges of a part of this Global Security for other Securities have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Principal Amount	 	 	 	 
	 	 	Decrease in	 	 	Increase in	 	 	of this Global	 	 	Signature of	 
	 	 	Principal Amount	 	 	Principal Amount	 	 	Security Following	 	 	Authorized Officer	 
	 	 	of this Global	 	 	of this Global	 	 	Such Decrease	 	 	of Trustee or	 
	Date of Exchange	 	Security	 	 	Security	 	 	or Increase	 	 	Security Custodian	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	*	 	To be included only if the Security is a Global Security

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ASSIGNMENT FORM

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

 

(Insert assignee’s social security or tax I.D. number)

 

 

 

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

	 	 	 
	and irrevocably appoint
	 	 
	 

	 	 

as agent to transfer this Security on the books of the Company. The agent may substitute another
to act for him.

	 	 	 	 	 	 	 
	Date:
	 	 	 	Your Signature:	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	(Sign exactly as your name appears on the face of this Security)

	 	 	 
	Signature Guarantee:
	 	 
	 
	 	 
	 
	 	(Participant in a Recognized Signature Guaranty Medallion Program)

A-12exv4w4

 

EXHIBIT 4.4

CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

Floating Rate Notes due April 9, 2009

5.50% Notes due 2013

Fully and Unconditionally Guaranteed by

CONOCOPHILLIPS AND CONOCOPHILLIPS COMPANY

     Two series of Securities are hereby established pursuant to Section 2.01 of the Indenture,
dated as of April 11, 2006 (the “Indenture”), among ConocoPhillips Australia Funding Company, as
issuer (the “Company”), ConocoPhillips and ConocoPhillips Company, as guarantors (collectively, the
“Guarantors”), and U.S. Bank National Association, as trustee (the “Trustee”), as follows:

     1. Each capitalized term used but not defined herein shall have the meaning assigned to such
term in the Indenture.

     2. The title of the Floating Rate Notes due April 9, 2009 shall be “Floating Rate Notes due
April 9, 2009” (the “2009 Notes”) and the title of the 5.50% Notes due 2013 shall be “5.50% Notes
due 2013” (the “2013 Notes” and, together with the 2009 Notes, the “Notes”).

     3. The limit upon the aggregate principal amount of the 2009 Notes and the 2013 Notes that may
be authenticated and delivered under the Indenture (except for Notes of such series authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes of
such series pursuant to Section 2.08, 2.09, 2.12, 2.17, 3.07 or 9.05 of the Indenture and except
for any Notes of such series which, pursuant to Section 2.04 or 2.17 of the Indenture, are deemed
never to have been authenticated and delivered thereunder) is $1,250,000,000 and $750,000,000,
respectively; provided, however, that the authorized aggregate principal amount of the Notes of
each series may be increased before or after the issuance of any Notes of such series by a Board
Resolution (or action pursuant to a Board Resolution) to such effect; provided further, however,
that the authorized aggregate principal amount of the Notes of each series may be increased only if
the additional Notes issued will be fungible with the original Notes of such series for United
States federal income tax purposes.

     4. The Notes of each series shall be issued upon original issuance in whole in the form of one
or more Global Securities (the “Global Notes”). The Depository Trust Company and the Trustee are
hereby designated as the Depositary and the Security Custodian, respectively, for the Global Notes
under the Indenture.

     5. The 2009 Notes and the Trustee’s certificate of authentication shall be substantially in
the form of Annex A hereto (the “Form of 2009 Note”), and the 2013 Notes and the Trustee’s
certificate of authentication shall be substantially in the form of Annex B hereto (collectively,
the “Forms of Note”).

     6. The date on which the principal of the 2009 Notes and the 2013 Notes is payable shall be
April 9, 2009 and April 15, 2013, respectively.

 

 

     7. Interest on the 2009 Notes shall be payable in accordance with the provisions of paragraph
1 of the 2009 Notes and shall be calculated in accordance with the provisions of paragraph 2 of the
2009 Notes. The Interest Payment Dates on which such interest shall be payable shall be January 9,
April 9, July 9 and October 9 of each year, commencing July 9, 2006. The record dates for the
interest payable on the 2009 Notes on any Interest Payment Date shall be the January 1, April 1,
July 1 and October 1, as the case may be, next preceding such Interest Payment Date.

     8. The rate at which the 2013 Notes shall bear interest shall be 5.50% per annum. Interest on
the 2013 Notes shall be computed on the basis of a 360-day year of twelve 30-day months. The
Interest Payment Dates on which such interest shall be payable shall be April 15 and October 15 of
each year, commencing October 15, 2006. The record dates for the interest payable on the 2013
Notes on any Interest Payment Date shall be the April 1 or October 1, as the case may be, next
preceding such Interest Payment Date.

     9. No Additional Amounts with respect to the Notes shall be payable. The date from which
interest shall accrue for the Notes of each series shall be April 11, 2006.

     10. The place or places where the principal of, premium (if any) on and interest on the Notes
shall be payable shall be the office or agency of the Company maintained for that purpose,
initially the Corporate Trust Office of the Trustee, and any other office or agency maintained by
the Company for such purpose. Payments in respect of Global Notes (including principal, premium,
if any, and interest) shall be made by wire transfer of immediately available funds to the accounts
specified by the Holder of such Notes. In all other cases, at the option of the Company, payment
of interest may be made by check mailed to the address of the person entitled thereto as such
address shall appear in the register of the Notes maintained by the Registrar.

     11. The Paying Agent and Registrar for the Notes of each series, and the Calculation Agent (as
defined in the Form of 2009 Note) for the 2009 Notes, initially shall be the Trustee.

     12. The 2009 Notes are subject to redemption, in whole or in part, at any time and from time
to time on or after April 9, 2007, at the option of the Company, upon not less than 30 nor more
than 60 days’ prior notice as provided in the Indenture, at a Redemption Price equal to 100% of the
principal amount of the 2009 Notes to be redeemed, plus accrued but unpaid interest thereon to the
Redemption Date.

     13. The 2013 Notes are subject to redemption, in whole or in part, at any time and from time
to time, at the option of the Company, upon not less than 30 nor more than 60 days’ prior notice as
provided in the Indenture, at a Redemption Price equal to the sum of (i) 100% of the principal
amount of the 2013 Notes to be redeemed and (ii) the amount, if any, by which the sum of the
present values of the Remaining Scheduled Payments thereon, discounted to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate
plus 10 basis points, exceeds the principal amount of the 2013 Notes to be redeemed, plus accrued
and unpaid interest thereon to the Redemption Date.

2

 

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to (i)
the yield, under the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release designated “H.15 (519)” or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue; provided that if no maturity is within three months
before or after the Stated Maturity for the 2013 Notes, yields for the two published maturities
most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury
Rate will be interpolated or extrapolated from such yields on a straight-line basis rounding to the
nearest month; or (ii) if such release (or any successor release) is not published during the week
preceding such calculation date or does not contain such yields, the rate per annum equal to the
semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the
third Business Day preceding such Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker that would be used, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the 2013 Notes.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Company.

     “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four
such Reference Treasury Dealer Quotations, the average of all such Quotations.

     “Reference Treasury Dealer” means each of Citigroup Global Markets Inc. (and its successors),
Greenwich Capital Markets, Inc. (and its successors), Banc of America Securities LLC (and its
successors) and Barclays Capital Inc. (and its successors); provided, however, that if any of the
foregoing shall cease to be a nationally recognized investment banking firm that is a primary U.S.
Government securities dealer (a “Primary Treasury Dealer”), the Company shall substitute therefor
another nationally recognized investment banking firm that is a Primary Treasury Dealer.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30 p.m., New York time,
on the third Business Day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to each 2013 Note to be redeemed, the
remaining scheduled payments of the principal thereof and interest thereon that would be due after
the related Redemption Date but for such redemption; provided, however,

3

 

that, if such Redemption Date is not an Interest Payment Date with respect to such 2013 Note,
the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount
of interest accrued thereon to such Redemption Date.

     14. The Company shall have no obligation to redeem, purchase or repay Notes pursuant to any
sinking fund or analogous provision or at the option of a Holder thereof.

     15. Each Global Note shall bear the legend set forth on the face of the Forms of Note, as
applicable.

4

 

Annex A

[FORM OF FACE OF SECURITY]

[Unless and until it is exchanged in whole or in part for Securities in definitive form, this
Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.
The Depository Trust Company (55 Water Street, New York, New York), a New York corporation
(“DTC”), shall act as the Depositary until a successor shall be appointed by the Company and the
Registrar. Unless this certificate is presented by an authorized representative of DTC to the
issuer 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 .]*

CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

FLOATING RATE NOTE DUE APRIL 9, 2009

FULLY AND UNCONDITIONALLY GUARANTEED BY

CONOCOPHILLIPS AND CONOCOPHILLIPS COMPANY

CUSIP No.                                        

 

			
	No.                                        
	 	$                                        

     ConocoPhillips Australia Funding Company, a Delaware corporation (the “Company,” which term
includes any successor Person under the Indenture hereinafter referred to), for value received,
promises to pay to ___or registered assigns, the principal sum of ___
Dollars[, or such greater or lesser amount as indicated on the Schedule of Exchanges of Securities
hereto,]* on April 9, 2009.

	 	 	 
	Interest Payment Dates:
	 	January 9, April 9, July 9 and October 9

	Record Dates:
	 	January 1, April 1, July 1 and October 1

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

A-1

 

     IN WITNESS WHEREOF, the Company has caused this Security to be signed manually or by facsimile
by its duly authorized officers.

Dated:

	 	 	 	 	 
	 	CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

GUARANTEE

     ConocoPhillips, a Delaware corporation, and ConocoPhillips Company, a Delaware corporation,
jointly and severally, unconditionally guarantee to the holder of this Security, upon the terms and
subject to the conditions set forth in the Indenture referenced on the reverse hereof, (a) the full
and prompt payment of the principal of and any premium on this Security when and as the same shall
become due, whether at the stated maturity thereof, by acceleration, redemption or otherwise, and
(b) the full and prompt payment of interest on this Security when and as the same shall become due,
subject to any applicable grace period.

	 	 	 	 	 
	 	CONOCOPHILLIPS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	CONOCOPHILLIPS COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-2

 

Certificate of Authentication:

This is one of the Securities of the series

designated therein referred to in the within-

mentioned Indenture.

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Authorized Signatory
	 	 

 

			
	*	 	To be included only if the Security is a Global Security.

A-3

 

[FORM OF REVERSE OF SECURITY]

CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

FLOATING RATE NOTE DUE APRIL 9, 2009

FULLY AND UNCONDITIONALLY GUARANTEED BY

CONOCOPHILLIPS AND CONOCOPHILLIPS COMPANY

     This Security is one of a duly authorized issue of Floating Rate Notes due April 9, 2009 (the
“Securities”) of ConocoPhillips Australia Funding Company, a Delaware corporation (the “Company”).

     1. Interest. The Company promises to pay interest on the principal amount of this Security as
set forth below from, and including, April 11, 2006 until maturity. The Company will pay interest
quarterly on January 9, April 9, July 9 and October 9 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each an “Interest Payment Date”); provided that,
if the next succeeding Business Day is in the next succeeding calendar month, such Interest Payment
Date shall be the next preceding Business Day. Interest on the Securities will accrue from, and
including, the most recent Interest Payment Date on which interest has been paid or, if no interest
has been paid, from, and including, April 11, 2006; provided that if there is no existing Default
in the payment of interest, and if this Security is authenticated between a record date referred to
on the face hereof (each, a “Record Date”) and the next succeeding Interest Payment Date, interest
shall accrue from, and including, such next succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date shall be July 9, 2006. The Company shall pay interest on
overdue principal and premium (if any) from time to time at a rate equal to the interest rate then
in effect; it shall pay interest on overdue installments of interest (without regard to any
applicable grace periods) from time to time at the same rate to the extent lawful. The period
beginning on, and including, April 11, 2006 and ending on, but excluding, the next Interest Payment
Date thereafter, and each successive three-month period beginning on, and including, an Interest
Payment Date and ending on, but excluding, the next succeeding Interest Payment Date is herein
called an “Interest Period.”

     2. Calculation of Interest.

     (a) The rate of interest payable from time to time in respect of the Securities (the “Rate of
Interest”) shall be a floating rate subject to adjustment once for each Interest Period and
determined by reference to LIBOR, determined as described below, plus a spread of 0.10% per annum.
All percentages resulting from any calculation of the Rate of Interest on the Securities shall be
rounded to the nearest one hundred-thousandth of a percentage point, with five one millionths of a
percentage point rounded upwards (e.g., 9.876545% (or
..09876545) would be rounded to 9.87655% (or .0987655)), and all Dollar amounts used in or resulting from such calculation on the Securities
shall be rounded to the nearest cent (with one-half cent being rounded upward).

     The Rate of Interest in effect on each day that is not an Interest Reset Date (as defined
below) shall be the Rate of Interest determined as of the Interest Determination Date (as

A-4

 

defined below) in respect of the next preceding Interest Reset Date. The Rate of Interest in
effect on each day that is an Interest Reset Date shall be the Rate of Interest determined as of
the Interest Determination Date in respect of such Interest Reset Date.

     (b) The Calculation Agent shall reset the Rate of Interest on each Interest Payment Date and
on April 11, 2006 (each, an “Interest Reset Date”). On the second London Business Day (or, for
purposes of the third sentence of paragraph (c) below, the Business Day) next preceding each
Interest Reset Date (each, an “Interest Determination Date”), U.S. Bank National Association, or
its successor in this capacity (the “Calculation Agent”), shall calculate the Rate of Interest for
the following Interest Period as, subject to the provisions described below, the rate per annum
equal to the rate for deposits in United States dollars having a maturity of three months
commencing on the first day of such Interest Period that appears on the Telerate Page (as defined
below) as of 11:00 a.m., London time, on such Interest Determination Date. “London Business Day”
means any day on which dealings in United States dollars are transacted in the London interbank
market.

     (c) If no such rate appears on the Telerate Page as specified in paragraph (b) above, the
Calculation Agent shall request the principal London offices of each of four major reference banks
in the London interbank market, as selected by the Calculation Agent (after consultation with the
Company), to provide the Calculation Agent with its offered quotation for deposits in United States
dollars for the period of three months, commencing on the first day of the applicable Interest
Period, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on
such Interest Determination Date and in a principal amount equal to an amount not less than
$1,000,000 that is representative for a single transaction in United States dollars in that market
at that time. If at least two quotations are provided, then LIBOR on such Interest Determination
Date shall be the arithmetic mean of such quotations. If fewer than two quotations are provided,
then LIBOR on such Interest Determination Date shall be the arithmetic mean of the rates quoted at
approximately 11:00 a.m., in The City of New York, on the Interest Determination Date by three
major banks in The City of New York selected by the Calculation Agent (after consultation with the
Company) for loans in United States dollars to leading European banks, having a three-month
maturity and in a principal amount equal to an amount not less than $1,000,000 that is
representative for a single transaction in that market at that time. If, however, the banks
selected by the Calculation Agent are not providing quotations in the manner described by the
previous sentence, LIBOR determined as of such Interest Determination Date shall be LIBOR in effect
on such Interest Determination Date.

     “Telerate Page” means the display page designated as “Page 3750” on Moneyline Telerate, Inc.,
or any successor service or services as may be nominated by the British Bankers’ Association, for
the purpose of displaying the London interbank rates of major banks for United States dollars.

     (d) On each Interest Determination Date, the Calculation Agent shall determine the Rate of
Interest and calculate the amount of interest payable in respect of the following Interest Period
(the “Interest Amount”). The Interest Amount shall be calculated by applying the Rate of Interest
to the principal amount of each Security outstanding at the commencement of the Interest Period,
multiplying each such amount by the actual number of days in the Interest Period concerned (which
actual number of days shall include the first day but exclude the last day of such Interest Period)
divided by 360 and rounding the resultant figure to

A-5

 

the nearest cent (half a cent being rounded upwards). The determination of the Rate of Interest
and the Interest Amount by the Calculation Agent shall (in the absence of manifest error) be final
and binding on all parties.

     (e) Notwithstanding anything herein to the contrary, the Rate of Interest shall in no event be
higher than the maximum rate permitted by New York law, as the same may be modified by United
States law of general application.

     (f) Interest shall cease to accrue on this Security on the maturity date unless, upon
presentation of this Security, payment of principal is improperly withheld or refused, in which
case, interest shall continue to accrue.

     3. Calculation Agent. So long as any of the Securities remain outstanding, the Company shall
maintain under appointment a Calculation Agent, which shall initially be the Trustee (as defined
below), for the purpose of the Securities. If the Trustee shall be unable or unwilling to continue
to act as Calculation Agent or if the Calculation Agent fails to calculate properly the Rate of
Interest for any Interest Period, the Company shall appoint another leading commercial or
investment bank engaged in the London interbank market to act as the Calculation Agent. The
Company may change the Calculation Agent without notice. The Calculation Agent may not resign in
its duties, and the Company may not change the Calculation Agent, without a successor Calculation
Agent having been appointed that meets the requirements of this paragraph.

     All certificates, communications, opinions, determinations, calculations, quotations and
decisions given, expressed, made or obtained for the purposes of the provisions hereof relating to
the payment and calculation of interest on the Securities, whether by the reference banks referred
to in paragraph 2(c) above (or any of them) or the Calculation Agent, shall (in the absence of
manifest error) be binding on the Company, the Calculation Agent and all of the holders and owners
of beneficial interests in this Securities, and no liability shall (in the absence of manifest
error) attach to the Calculation Agent in connection with the exercise or non-exercise by it of its
powers, duties and discretions.

     4. Method of Payment. The Company will pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders of Securities at the close of business on the
Record Date next preceding the Interest Payment Date, even if such Securities are canceled after
such Record Date and on or before such Interest Payment Date. The Holder must surrender this
Security to a Paying Agent to collect principal payments. The Company will pay the principal of,
premium (if any) on and interest on the Securities in money of the United States of America that at
the time of payment is legal tender for payment of public and private debts. Such amounts shall be
payable at the offices of the Trustee, provided that at the option of the Company, the Company may
pay such amounts (1) by wire transfer with respect to Global Securities or (2) by check payable in
such money mailed to a Holder’s registered address with respect to any Securities.

     5. Paying Agent and Registrar. Initially, U.S. Bank National Association (the “Trustee”), the
trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any
Paying Agent, Registrar, co-registrar or additional paying agent

A-6

 

without notice to any Holder. The Company, any Guarantor or any Subsidiary may act in any
such capacity.

     6. Guarantee. ConocoPhillips, a Delaware corporation, and ConocoPhillips Company, a Delaware
corporation (collectively, the “Guarantors”), jointly and severally, unconditionally guarantee to
the Holders from time to time of the Securities, upon the terms and subject to the conditions set
forth in the Indenture (as defined below), (a) the full and prompt payment of the principal of and
any premium on the Securities when and as the same shall become due, whether at the Stated Maturity
thereof, by acceleration, redemption or otherwise, and (b) the full and prompt payment of any
interest on the Securities when and as the same shall become due, subject to any applicable grace
period. The Guarantee constitutes a guarantee of payment and not of collection. In the event of a
default in the payment of principal of or any premium on the Securities when and as the same shall
become due, whether at the Stated Maturity thereof, by acceleration, call for redemption or
otherwise, or in the event of a default in the payment of any interest on the Securities when and
as the same shall become due, each of the Trustee and the Holders of the Securities shall have the
right to proceed first and directly against the Guarantors under the Indenture without first
proceeding against the Company or exhausting any other remedies which the Trustee or such Holder
may have and without resorting to any other security held by it.

     7. Indenture. The Company issued the Securities under an Indenture, dated as of April 11,
2006 (the “Indenture”), among the Company, the Guarantors and the Trustee. The terms of the
Securities include those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act of 1939, as amended (the “TIA”), as in effect on the date of execution
of the Indenture. The Securities are subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of such terms and for the definitions of capitalized terms
used but not defined herein. The Securities are unsecured general obligations of the Company
limited to $1,250,000,000 in aggregate principal amount; provided, however, that the authorized
aggregate principal amount of the Securities may be increased before or after the issuance of any
Securities by a Board Resolution (or action pursuant to a Board Resolution) to such effect;
provided further, however, that the authorized aggregate principal amount of the Securities may be
increased only if the additional Securities issued will be fungible with the original Securities
for United States federal income tax purposes. The Indenture provides for the issuance of other
series of debt securities (including the Securities, the “Debt Securities”) thereunder.

     8. Denominations, Transfer, Exchange. The Securities are in registered form without coupons
in denominations of $1,000 and integral multiples of $1,000. The transfer of Securities may be
registered and Securities may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes and fees required by law or permitted by the Indenture. Neither the
Company, the Trustee nor the Registrar shall be required to register the transfer or exchange of
(a) any Security selected for redemption in whole or in part, except the unredeemed portion of any
Security being redeemed in part, or (b) any Security during the period beginning 15 Business Days
before the mailing of notice of redemption of Securities to be redeemed and ending at the close of
business on the day of mailing.

A-7

 

     9. Persons Deemed Owners. The registered Holder of a Security shall be treated as its owner
for all purposes.

     10. Redemption. The Securities are subject to redemption, in whole or in part, at any time
and from time to time, at the option of the Company, upon not less than 30 nor more than 60 days’
prior notice as provided in the Indenture, at a Redemption Price equal to 100% of the principal
amount of the Securities to be redeemed, plus accrued and unpaid interest thereon to the Redemption
Date.

     11. Amendments and Waivers. Subject to certain exceptions and limitations, the Indenture or
the Securities may be amended or supplemented with the consent of the Holders of at least a
majority in principal amount of the then outstanding Debt Securities of all series affected by such
amendment or supplement (acting as one class), and any existing or past Default or Event of Default
under, or compliance with any provision of, the Indenture may be waived (other than any continuing
Default or Event of Default in the payment of the principal of, premium (if any) on or interest on
the Securities) by the Holders of at least a majority in principal amount of the then outstanding
Debt Securities of any series or of all series (acting as one class) in accordance with the terms
of the Indenture. Without the consent of any Holder, the Company, the Guarantors and the Trustee
may amend or supplement the Indenture or the Securities or waive any provision of either: (i) to
cure any ambiguity, omission, defect or inconsistency; (ii) if required, to provide for the
assumption of the obligations of the Company or a Guarantor under the Indenture in the case of the
merger, consolidation or sale, conveyance, transfer or other disposition of any of the properties
or assets of the Company or sale, conveyance, lease, transfer or other disposition of all or
substantially all of the assets of such Guarantor, as applicable; (iii) to provide for
uncertificated Securities in addition to or in place of certificated Securities or to provide for
the issuance of bearer Securities (with or without coupons); (iv) to provide any security for, or
to add any guarantees of or additional obligors on, the Securities or the related Guarantees; (v)
to comply with any requirement in order to effect or maintain the qualification of the Indenture
under the TIA; (vi) to add to the covenants of the Company or any Guarantor for the benefit of the
Holders of the Securities, or to surrender any right or power conferred by the Indenture upon the
Company or any Guarantor; (vii) to add any additional Events of Default with respect to all or any
series of the Debt Securities; (viii) to change or eliminate any of the provisions of the
Indenture, provided that no outstanding Security is adversely affected in any material respect;
(ix) to supplement any of the provisions of the Indenture to such extent as shall be necessary to
permit or facilitate the defeasance and discharge of the Securities pursuant to the Indenture; or
(x) to evidence and provide for the acceptance of appointment under the Indenture by a successor
Trustee with respect to the Securities and to add to or change any of the provisions of the
Indenture as shall be necessary to provide for or facilitate the administration of the trusts
thereunder by more than one Trustee, pursuant to the requirements of the Indenture.

     The right of any Holder to participate in any consent required or sought pursuant to any
provision of the Indenture (and the obligation of the Company or any Guarantor to obtain any such
consent otherwise required from such Holder) may be subject to the requirement that such Holder
shall have been the Holder of record of any Securities with respect to which such consent is
required or sought as of a date identified by the Company or such Guarantor in a notice furnished
to Holders in accordance with the terms of the Indenture.

A-8

 

     Without the consent of each Holder affected, the Company may not (i) reduce the amount of Debt
Securities whose Holders must consent to an amendment, supplement or waiver; (ii) reduce the rate
of or change the time for payment of interest, including default interest, on any Security; (iii)
reduce the principal of or premium on, or change the Stated Maturity of, any Security; (iv) reduce
the premium, if any, payable upon the redemption of any Security or change the time at which any
Security may or shall be redeemed; (v) change the coin or currency in which any Security or any
premium or interest with respect thereto is payable; (vi) impair the right to institute suit for
the enforcement of any payment of principal of or premium (if any) or interest on any Security,
except as provided in the Indenture; (vii) make any change in the percentage of principal amount of
Debt Securities necessary to waive compliance with certain provisions of the Indenture or make any
change in the provision for modification; (viii) waive a continuing Default or Event of Default in
the payment of principal of or premium (if any) or interest on the Securities or (ix) change the
obligations of the Guarantors under the Guarantees in any manner materially adverse to the holders
of any Debt Security issued under the Indenture.

     A supplemental indenture that changes or eliminates any covenant or other provision of the
Indenture which has expressly been included solely for the benefit of one or more particular series
of Debt Securities under the Indenture, or which modifies the rights of the Holders of Debt
Securities of such series with respect to such covenant or other provision, shall be deemed not to
affect the rights under the Indenture of the Holders of Debt Securities of any other series.

     12. Defaults and Remedies. Events of Default are defined in the Indenture and generally
include: (i) default for 30 days in payment of any interest on the Securities; (ii) default in any
payment of principal of or premium, if any, on the Securities when due and payable; (iii) default
by the Company or any Guarantor in compliance with any of its other covenants or agreements in, or
provisions of, the Securities or in the Indenture which shall not have been remedied within 90 days
after written notice by the Trustee or by the holders of at least 25% in principal amount of the
Securities then outstanding (or, in the event that other Debt Securities issued under the Indenture
are also affected by the default, then 25% in principal amount of all outstanding Debt Securities
so affected); (iv) certain events involving bankruptcy, insolvency or reorganization of the Company
or any Guarantor; or (v) any Guarantee of any Guarantor ceasing to be in full force and effect
(other than in accordance with the terms of the Indenture and such Guarantee) or being declared
null and void and unenforceable or found to be invalid in a judicial proceeding or any Guarantor
denying its liability under its Guarantee (other than by reason of the release of a Guarantor from
its Guarantee in accordance with the terms of the Indenture and such Guarantee). If an Event of
Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of
the then outstanding Securities (or, in the case of an Event of Default described in clause (iii)
above, if outstanding Debt Securities of other series are affected by such Default, then at least
25% in principal amount of the then outstanding Debt Securities so affected), may declare the
principal of and interest on all the Securities (or such Debt Securities) to be immediately due and
payable, except that in the case of an Event of Default arising from certain events of bankruptcy,
insolvency or reorganization of the Company or any Guarantor, all outstanding Debt Securities under
the Indenture become due and payable immediately without further action or notice. The amount due
and payable upon the acceleration of any Security is equal to 100% of the principal amount thereof
plus accrued interest to the date of payment. Holders may not enforce the Indenture or the
Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to
it before it enforces the Indenture

A-9

 

or the Securities. Subject to certain limitations, Holders of a majority in principal amount
of the then outstanding Securities (or affected Debt Securities) may direct the Trustee in its
exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing
default (except a default in payment of principal, premium or interest) if it determines that
withholding notice is in their interests. The Company and the Guarantors must furnish annual
compliance certificates to the Trustee.

     13. Discharge Prior to Maturity. The Indenture with respect to the Securities shall be
discharged and canceled upon the payment of all of the Securities and shall be discharged except
for certain obligations upon the irrevocable deposit with the Trustee of any combination of funds
and U.S. Government Obligations sufficient for such payment.

     14. Trustee Dealings with Company and Guarantors. The Trustee, in its individual or any other
capacity, may become the owner or pledgee of Securities and may make loans to, accept deposits
from, and perform services for the Company, any Guarantor or any of their respective Affiliates,
and may otherwise deal with the Company, any Guarantor or any such Affiliates, as if it were not
Trustee.

     15. No Recourse Against Others. A director, officer, employee, stockholder, partner or other
owner of the Company, a Guarantor or the Trustee, as such, shall not have any liability for any
obligations of the Company under the Securities, for any obligations of any Guarantor under the
Guarantee or for any obligations of the Company, any Guarantor or the Trustee under the Indenture
or for any claim based on, in respect of or by reason of such obligations or their creation. Each
Holder by accepting a Security waives and releases all such liability. The waiver and release
shall be part of the consideration for the issue of Securities.

     16. Authentication. This Security shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent.

     17. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the
Securities as a convenience to the Holders of the Securities. No representation is made as to the
accuracy of such numbers as printed on the Securities and reliance may be placed only on the other
identification numbers printed thereon.

     18. Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Request may be made to:

ConocoPhillips Australia Funding Company

c/o ConocoPhillips

600 North Dairy Ashford

Houston, Texas 77079

Telephone: (281) 293-1000

Attention: Treasurer

A-10

 

SCHEDULE OF EXCHANGES OF SECURITIES*

     The following exchanges of a part of this Global Security for other Securities have been made:

	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Principal Amount	 	 	 
	 	 	Decrease in	 	 	Increase in	 	 	of this Global	 	 	Signature of
	 	 	Principal Amount	 	 	Principal Amount	 	 	Security Following	 	 	Authorized Officer
	Date of	 	of this Global	 	 	of this Global	 	 	Such Decrease	 	 	of Trustee or
	Exchange	 	Security	 	 	Security	 	 	or Increase	 	 	Security Custodian

 

			
	*	 	To be included only if the Security is a Global Security

A-11

 

ASSIGNMENT FORM

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

 

(Insert assignee’s social security or tax I.D. number)

 

 

 

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

	 	 	 
	and irrevocably appoint	 	 

as agent to transfer this Security on the books of the Company. The agent may substitute another
to act for him.

	 	 	 	 	 	 	 
	Date:	 	 	 	Your Signature:	 	 

	 	 	 
	 	 	 	 

	 	 	 	 	 	 	(Sign exactly as your name appears on

	 	 	 	 	 	 	the face of this Security)

	 	 	 
	Signature Guarantee:
	 	 

	 	 	 

	 	 	(Participant in a Recognized Signature

	 	 	Guaranty Medallion Program)

A-12

 

Annex B

[FORM OF FACE OF SECURITY]

[Unless and until it is exchanged in whole or in part for Securities in definitive form, this
Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.
The Depository Trust Company (55 Water Street, New York, New York), a New York corporation
(“DTC”), shall act as the Depositary until a successor shall be appointed by the Company and the
Registrar. Unless this certificate is presented by an authorized representative of DTC to the
issuer 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 .] *

CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

5.50% NOTE DUE 2013

FULLY AND UNCONDITIONALLY GUARANTEED BY

CONOCOPHILLIPS AND CONOCOPHILLIPS COMPANY

CUSIP No.                                        

			
	No.                                        
	 	$                                        

     ConocoPhillips Australia Funding Company, a Delaware corporation (the “Company,” which term
includes any successor Person under the Indenture hereinafter referred to), for value received,
promises to pay to ___or registered assigns, the principal sum of ___
Dollars[, or such greater or lesser amount as indicated on the Schedule of Exchanges of Securities
hereto,]* on April 15, 2013.

	 	 	 
	Interest Payment Dates:
	 	April 15 and October 15

	Record Dates:
	 	April 1 and October 1

     Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at
this place.

B-1

 

     IN WITNESS WHEREOF, the Company has caused this Security to be signed manually or by facsimile
by its duly authorized officers.

Dated:

	 	 	 	 	 
	 	CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

GUARANTEE

     ConocoPhillips, a Delaware corporation, and ConocoPhillips Company, a Delaware corporation,
jointly and severally, unconditionally guarantee to the holder of this Security, upon the terms and
subject to the conditions set forth in the Indenture referenced on the reverse hereof, (a) the full
and prompt payment of the principal of and any premium on this Security when and as the same shall
become due, whether at the stated maturity thereof, by acceleration, redemption or otherwise, and
(b) the full and prompt payment of interest on this Security when and as the same shall become due,
subject to any applicable grace period.

	 	 	 	 	 
	 	CONOCOPHILLIPS

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	CONOCOPHILLIPS COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

B-2

 

Certificate of Authentication:

This is one of the Securities of the series

designated therein referred to in the within-

mentioned Indenture.

U.S. BANK NATIONAL ASSOCIATION, as Trustee

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Authorized Signatory
	 	 

 

			
	*	 	To be included only if the Security is a Global Security.

B-3

 

[FORM OF REVERSE OF SECURITY]

CONOCOPHILLIPS AUSTRALIA FUNDING COMPANY

5.50% NOTE DUE 2013

FULLY AND UNCONDITIONALLY GUARANTEED BY

CONOCOPHILLIPS AND CONOCOPHILLIPS COMPANY

     This Security is one of a duly authorized issue of 5.50% Notes due 2013 (the “Securities”) of
ConocoPhillips Australia Funding Company, a Delaware corporation (the “Company”).

     1. Interest. The Company promises to pay interest on the principal amount of this Security at
5.50% per annum from April 11, 2006 until maturity. The Company will pay interest semiannually on
April 15 and October 15 of each year (each an “Interest Payment Date”), or if any such day is not a
Business Day, on the next succeeding Business Day. Interest on the Securities will accrue from the
most recent Interest Payment Date on which interest has been paid or, if no interest has been paid,
from April 11, 2006; provided that if there is no existing Default in the payment of interest, and
if this Security is authenticated between a record date referred to on the face hereof (each, a
“Record Date”) and the next succeeding Interest Payment Date, interest shall accrue from such next
succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be
October 15, 2006. The Company shall pay interest on overdue principal and premium (if any) from
time to time at a rate equal to the interest rate then in effect; it shall pay interest on overdue
installments of interest (without regard to any applicable grace periods) from time to time at the
same rate to the extent lawful. Interest will be computed on the basis of a 360-day year
consisting of twelve 30-day months.

     2. Method of Payment. The Company will pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders of Securities at the close of business on the
Record Date next preceding the Interest Payment Date, even if such Securities are canceled after
such Record Date and on or before such Interest Payment Date. The Holder must surrender this
Security to a Paying Agent to collect principal payments. The Company will pay the principal of,
premium (if any) on and interest on the Securities in money of the United States of America that at
the time of payment is legal tender for payment of public and private debts. Such amounts shall be
payable at the offices of the Trustee (as defined below), provided that at the option of the
Company, the Company may pay such amounts (1) by wire transfer with respect to Global Securities or
(2) by check payable in such money mailed to a Holder’s registered address with respect to any
Securities.

     3. Paying Agent and Registrar. Initially, U.S. Bank National Association (the “Trustee”), the
trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any
Paying Agent, Registrar, co-registrar or additional paying agent without notice to any Holder. The
Company, any Guarantor or any Subsidiary may act in any such capacity.

B-4

 

     4. Guarantee. ConocoPhillips, a Delaware corporation, and ConocoPhillips Company, a Delaware
corporation (collectively, the “Guarantors”), jointly and severally, unconditionally guarantee to
the Holders from time to time of the Securities, upon the terms and subject to the conditions set
forth in the Indenture (as defined below), (a) the full and prompt payment of the principal of and
any premium on the Securities when and as the same shall become due, whether at the Stated Maturity
thereof, by acceleration, redemption or otherwise, and (b) the full and prompt payment of any
interest on the Securities when and as the same shall become due, subject to any applicable grace
period. The Guarantee constitutes a guarantee of payment and not of collection. In the event of a
default in the payment of principal of or any premium on the Securities when and as the same shall
become due, whether at the Stated Maturity thereof, by acceleration, call for redemption or
otherwise, or in the event of a default in the payment of any interest on the Securities when and
as the same shall become due, each of the Trustee and the Holders of the Securities shall have the
right to proceed first and directly against the Guarantors under the Indenture without first
proceeding against the Company or exhausting any other remedies which the Trustee or such Holder
may have and without resorting to any other security held by it.

     5. Indenture. The Company issued the Securities under an Indenture, dated as of April 11,
2006 (the “Indenture”), among the Company, the Guarantors and the Trustee. The terms of the
Securities include those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act of 1939, as amended (the “TIA”), as in effect on the date of execution
of the Indenture. The Securities are subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of such terms and for the definitions of capitalized terms
used but not defined herein. The Securities are unsecured general obligations of the Company
limited to $750,000,000 in aggregate principal amount; provided, however, that the authorized
aggregate principal amount of the Securities may be increased before or after the issuance of any
Securities by a Board Resolution (or action pursuant to a Board Resolution) to such effect;
provided further, however, that the authorized aggregate principal amount of the Securities may be
increased only if the additional Securities issued will be fungible with the original Securities
for United States federal income tax purposes. The Indenture provides for the issuance of other
series of debt securities (including the Securities, the “Debt Securities”) thereunder.

     6. Denominations, Transfer, Exchange. The Securities are in registered form without coupons
in denominations of $1,000 and integral multiples of $1,000. The transfer of Securities may be
registered and Securities may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes and fees required by law or permitted by the Indenture. Neither the
Company, the Trustee nor the Registrar shall be required to register the transfer or exchange of
(a) any Security selected for redemption in whole or in part, except the unredeemed portion of any
Security being redeemed in part, or (b) any Security during the period beginning 15 Business Days
before the mailing of notice of redemption of Securities to be redeemed and ending at the close of
business on the day of mailing.

     7. Persons Deemed Owners. The registered Holder of a Security shall be treated as its owner
for all purposes.

B-5

 

     8. Redemption. The Securities are subject to redemption, in whole or in part, at any time and
from time to time, at the option of the Company, upon not less than 30 nor more than 60 days’ prior
notice as provided in the Indenture, at a Redemption Price equal to the sum of (i) 100% of the
principal amount of the Securities to be redeemed and (ii) the amount, if any, by which the sum of
the present values of the Remaining Scheduled Payments thereon, discounted to the Redemption Date
on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate plus 10 basis points, exceeds the principal amount of the Securities to be redeemed, plus
accrued and unpaid interest thereon to the Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to (i)
the yield, under the heading which represents the average for the immediately preceding week,
appearing in the most recently published statistical release designated “H.15 (519)” or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue; provided that if no maturity is within three months
before or after the Stated Maturity for the Securities, yields for the two published maturities
most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury
Rate will be interpolated or extrapolated from such yields on a straight-line basis rounding to the
nearest month; or (ii) if such release (or any successor release) is not published during the week
preceding such calculation date or does not contain such yields, the rate per annum equal to the
semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the
third Business Day preceding such Redemption Date.

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker that would be used, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of the Securities.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Company.

     “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four
such Reference Treasury Dealer Quotations, the average of all such Quotations.

     “Reference Treasury Dealer” means each of Citigroup Global Markets Inc. (and its successors),
Greenwich Capital Markets, Inc. (and its successors), Banc of America Securities LLC (and its
successors) and Barclays Capital Inc. (and its successors); provided, however, that if any of the
foregoing shall cease to be a nationally recognized investment banking firm that is a primary U.S.
Government securities dealer (a “Primary Treasury Dealer”), the Company shall substitute therefor
another nationally recognized investment banking firm that is a Primary Treasury Dealer.

B-6

 

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer as of 3:30 p.m., New York time,
on the third Business Day preceding such Redemption Date.

     “Remaining Scheduled Payments” means, with respect to each Security to be redeemed, the
remaining scheduled payments of the principal thereof and interest thereon that would be due after
the related Redemption Date but for such redemption; provided, however, that, if such Redemption
Date is not an Interest Payment Date with respect to such Security, the amount of the next
succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued
thereon to such Redemption Date.

     9. Amendments and Waivers. Subject to certain exceptions and limitations, the Indenture or
the Securities may be amended or supplemented with the consent of the Holders of at least a
majority in principal amount of the then outstanding Debt Securities of all series affected by such
amendment or supplement (acting as one class), and any existing or past Default or Event of Default
under, or compliance with any provision of, the Indenture may be waived (other than any continuing
Default or Event of Default in the payment of the principal of, premium (if any) on or interest on
the Securities) by the Holders of at least a majority in principal amount of the then outstanding
Debt Securities of any series or of all series (acting as one class) in accordance with the terms
of the Indenture. Without the consent of any Holder, the Company, the Guarantors and the Trustee
may amend or supplement the Indenture or the Securities or waive any provision of either: (i) to
cure any ambiguity, omission, defect or inconsistency; (ii) if required, to provide for the
assumption of the obligations of the Company or a Guarantor under the Indenture in the case of the
merger, consolidation or sale, conveyance, transfer or other disposition of any of the properties
or assets of the Company or sale, conveyance, lease, transfer or other disposition of all or
substantially all of the assets of such Guarantor, as applicable; (iii) to provide for
uncertificated Securities in addition to or in place of certificated Securities or to provide for
the issuance of bearer Securities (with or without coupons); (iv) to provide any security for, or
to add any guarantees of or additional obligors on, the Securities or the related Guarantees; (v)
to comply with any requirement in order to effect or maintain the qualification of the Indenture
under the TIA; (vi) to add to the covenants of the Company or any Guarantor for the benefit of the
Holders of the Securities, or to surrender any right or power conferred by the Indenture upon the
Company or any Guarantor; (vii) to add any additional Events of Default with respect to all or any
series of the Debt Securities; (viii) to change or eliminate any of the provisions of the
Indenture, provided that no outstanding Security is adversely affected in any material respect;
(ix) to supplement any of the provisions of the Indenture to such extent as shall be necessary to
permit or facilitate the defeasance and discharge of the Securities pursuant to the Indenture; or
(x) to evidence and provide for the acceptance of appointment under the Indenture by a successor
Trustee with respect to the Securities and to add to or change any of the provisions of the
Indenture as shall be necessary to provide for or facilitate the administration of the trusts
thereunder by more than one Trustee, pursuant to the requirements of the Indenture.

     The right of any Holder to participate in any consent required or sought pursuant to any
provision of the Indenture (and the obligation of the Company or any Guarantor to obtain any such
consent otherwise required from such Holder) may be subject to the requirement that

B-7

 

such Holder shall have been the Holder of record of any Securities with respect to which such
consent is required or sought as of a date identified by the Company or such Guarantor in a notice
furnished to Holders in accordance with the terms of the Indenture.

     Without the consent of each Holder affected, the Company may not (i) reduce the amount of Debt
Securities whose Holders must consent to an amendment, supplement or waiver; (ii) reduce the rate
of or change the time for payment of interest, including default interest, on any Security; (iii)
reduce the principal of or premium on, or change the Stated Maturity of, any Security; (iv) reduce
the premium, if any, payable upon the redemption of any Security or change the time at which any
Security may or shall be redeemed; (v) change the coin or currency in which any Security or any
premium or interest with respect thereto is payable; (vi) impair the right to institute suit for
the enforcement of any payment of principal of or premium (if any) or interest on any Security,
except as provided in the Indenture; (vii) make any change in the percentage of principal amount of
Debt Securities necessary to waive compliance with certain provisions of the Indenture or make any
change in the provision for modification; (viii) waive a continuing Default or Event of Default in
the payment of principal of or premium (if any) or interest on the Securities or (ix) change the
obligations of the Guarantors under the Guarantees in any manner materially adverse to the holders
of any Debt Security issued under the Indenture.

     A supplemental indenture that changes or eliminates any covenant or other provision of the
Indenture which has expressly been included solely for the benefit of one or more particular series
of Debt Securities under the Indenture, or which modifies the rights of the Holders of Debt
Securities of such series with respect to such covenant or other provision, shall be deemed not to
affect the rights under the Indenture of the Holders of Debt Securities of any other series.

     10. Defaults and Remedies. Events of Default are defined in the Indenture and generally
include: (i) default for 30 days in payment of any interest on the Securities; (ii) default in any
payment of principal of or premium, if any, on the Securities when due and payable; (iii) default
by the Company or any Guarantor in compliance with any of its other covenants or agreements in, or
provisions of, the Securities or in the Indenture which shall not have been remedied within 90 days
after written notice by the Trustee or by the holders of at least 25% in principal amount of the
Securities then outstanding (or, in the event that other Debt Securities issued under the Indenture
are also affected by the default, then 25% in principal amount of all outstanding Debt Securities
so affected); (iv) certain events involving bankruptcy, insolvency or reorganization of the Company
or any Guarantor; or (v) any Guarantee of any Guarantor ceasing to be in full force and effect
(other than in accordance with the terms of the Indenture and such Guarantee) or being declared
null and void and unenforceable or found to be invalid in a judicial proceeding or any Guarantor
denying its liability under its Guarantee (other than by reason of the release of a Guarantor from
its Guarantee in accordance with the terms of the Indenture and such Guarantee). If an Event of
Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of
the then outstanding Securities (or, in the case of an Event of Default described in clause (iii)
above, if outstanding Debt Securities of other series are affected by such Default, then at least
25% in principal amount of the then outstanding Debt Securities so affected), may declare the
principal of and interest on all the Securities (or such Debt Securities) to be immediately due and
payable, except that in the case of an Event of Default arising from certain events of bankruptcy,
insolvency or reorganization of the Company or any Guarantor, all outstanding Debt Securities under
the Indenture become due and payable

B-8

 

immediately without further action or notice. The amount due and payable upon the
acceleration of any Security is equal to 100% of the principal amount thereof plus accrued interest
to the date of payment. Holders may not enforce the Indenture or the Securities except as provided
in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the
Indenture or the Securities. Subject to certain limitations, Holders of a majority in principal
amount of the then outstanding Securities (or affected Debt Securities) may direct the Trustee in
its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing
default (except a default in payment of principal, premium or interest) if it determines that
withholding notice is in their interests. The Company and the Guarantors must furnish annual
compliance certificates to the Trustee.

     11. Discharge Prior to Maturity. The Indenture with respect to the Securities shall be
discharged and canceled upon the payment of all of the Securities and shall be discharged except
for certain obligations upon the irrevocable deposit with the Trustee of any combination of funds
and U.S. Government Obligations sufficient for such payment.

     12. Trustee Dealings with Company and Guarantors. The Trustee, in its individual or any other
capacity, may become the owner or pledgee of Securities and may make loans to, accept deposits
from, and perform services for the Company, any Guarantor or any of their respective Affiliates,
and may otherwise deal with the Company, any Guarantor or any such Affiliates, as if it were not
Trustee.

     13. No Recourse Against Others. A director, officer, employee, stockholder, partner or other
owner of the Company, a Guarantor or the Trustee, as such, shall not have any liability for any
obligations of the Company under the Securities, for any obligations of any Guarantor under the
Guarantee or for any obligations of the Company, any Guarantor or the Trustee under the Indenture
or for any claim based on, in respect of or by reason of such obligations or their creation. Each
Holder by accepting a Security waives and releases all such liability. The waiver and release
shall be part of the consideration for the issue of Securities.

     14. Authentication. This Security shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent.

     15. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the
Securities as a convenience to the Holders of the Securities. No representation is made as to the
accuracy of such numbers as printed on the Securities and reliance may be placed only on the other
identification numbers printed thereon.

     16. Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

B-9

 

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Request may be made to:

ConocoPhillips Australia Funding Company

c/o ConocoPhillips

600 North Dairy Ashford

Houston, Texas 77079

Telephone: (281) 293-1000

Attention: Treasurer

B-10

 

SCHEDULE OF EXCHANGES OF SECURITIES*

     The following exchanges of a part of this Global Security for other Securities have been made:

	 	 	 
	 	 	Amount of	 	 	Amount of	 	 	Principal Amount	 	 	 
	 	 	Decrease in	 	 	Increase in	 	 	of this Global	 	 	Signature of
	 	 	Principal Amount	 	 	Principal Amount	 	 	Security Following	 	 	Authorized Officer
	Date of	 	of this Global	 	 	of this Global	 	 	Such Decrease	 	 	of Trustee or
	Exchange	 	Security	 	 	Security	 	 	or Increase	 	 	Security Custodian

 

			
	*	 	To be included only if the Security is a Global Security.

B-11

 

ASSIGNMENT FORM

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

 

(Insert assignee’s social security or tax I.D. number)

 

 

 

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

	 	 	 
	     and irrevocably appoint	 	 

     as agent to transfer this Security on the books of the Company. The agent may substitute another
to act for him.

	 	 	 	 	 	 	 
	Date:	 	 	 	Your Signature:
	 	 

	 	 	 
	 	 	 	 

	 	 	 	 	 	 	(Sign exactly as your name appears on
the face of this Security)

	 	 	 
	Signature Guarantee:
	 	 

	 	 	 

	 	 	(Participant in a Recognized Signature

Guaranty Medallion Program)

B-12

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