Document:

EX-4.1

 Exhibit 4.1 

THIS NOTE IS NOT A SAVINGS ACCOUNT, DEPOSIT OR OTHER OBLIGATION OF ANY BANK OR NONBANK SUBSIDIARY OF THE COMPANY AND IS NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION, THE DEPOSIT INSURANCE FUND OR ANY OTHER GOVERNMENTAL AGENCY. 
 IF THIS NOTE IS REGISTERED IN THE NAME OF CEDE & CO. AS
NOMINEE FOR THE DEPOSITORY TRUST COMPANY, THEN THE FOLLOWING LEGEND SHALL APPLY: 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) 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 SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE &
CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

ANY PURCHASER OR HOLDER OF THIS NOTE OR ANY INTEREST HEREIN REPRESENTS BY ITS PURCHASE AND HOLDING OF THIS NOTE THAT IT EITHER (1) IS NOT, AND IS NOT
PURCHASING THIS NOTE ON BEHALF OF OR WITH THE ASSETS OF, (A) A PENSION, PROFIT-SHARING OR OTHER EMPLOYEE BENEFIT PLAN SUBJECT TO THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) OR AN INDIVIDUAL
RETIREMENT ACCOUNT, KEOGH PLAN OR ANY OTHER PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (EACH, A “PLAN”), (B) AN EMPLOYEE BENEFIT PLAN THAT IS A GOVERNMENTAL PLAN (AS DEFINED IN
SECTION 3(32) OF ERISA), A CHURCH PLAN (AS DEFINED IN SECTION 3(33) OF ERISA) OR A NON-U.S. PLAN (AS DESCRIBED IN SECTION 4(B)(4) OF ERISA) THAT IS NOT SUBJECT TO THE REQUIREMENTS OF ERISA OR THE CODE BUT IS SUBJECT TO SIMILAR PROVISIONS UNDER
APPLICABLE FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS (“SIMILAR LAWS”) OR (C) AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY OR (2) THE PURCHASE AND
HOLDING OF THIS NOTE WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA, SECTION 4975 OF THE CODE OR UNDER ANY APPLICABLE SIMILAR LAWS. 

IF APPLICABLE, THE “TOTAL AMOUNT OF OID”, “ORIGINAL YIELD TO MATURITY” AND “INITIAL SHORT ACCRUAL PERIOD OID” (COMPUTED UNDER
THE EXACT METHOD) SET FORTH BELOW HAVE BEEN COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT RULES. 

			
	CUSIP:                    	  	ISIN:                                 
	REGISTERED	  	REGISTERED
	No. FX/FLR-             	  	$        ,000,000

 THE BANK OF NEW YORK MELLON CORPORATION 

SENIOR MEDIUM-TERM NOTE SERIES J 

(Fixed-to-Floating Rate) 
  

							
				
	BASE RATE:	  	ORIGINAL ISSUE DATE:	  	STATED MATURITY
DATE:	  	ISSUE PRICE:
				
	LIBOR	  	  
	  	  
	  	100.000% OF THE
PRINCIPAL AMOUNT
PLUS ACCRUED
INTEREST
FROM
                        
				
	INDEX MATURITY:	  	INITIAL FLOATING INTEREST RATE:	  	INTEREST PERIOD:	  	INTEREST PAYMENT
DATES:
				
	3-MONTH	  	3-MONTH LIBOR +              BASIS POINTS DETERMINED ON THE SECOND LONDON BANKING DAY PRECEDING
                        	  	DURING THE FIXED
RATE PERIOD,
SEMI-ANNUAL  

DURING THE FLOATING
RATE PERIOD,
QUARTERLY
	  	DURING THE FIXED
RATE PERIOD,
                    
AND
                     OF EACH
YEAR,
COMMENCING
                        TO
AND
INCLUDING
                          

DURING THE FLOATING
RATE PERIOD,
                ,
                ,
                AND
                ,
COMMENCING
                        

				
	SPREAD:	  	INITIAL INTEREST RESET DATE:	  	INTEREST RESET
DATES:	  	CALCULATION AGENT:
				
	+         BASIS POINTS	  	  
	  	                ,
            ,       
         
AND                 DURING
THE FLOATING RATE
PERIOD	  	THE BANK OF NEW
YORK MELLON

  
 -2- 

							
				
	SPREAD MULTIPLIER:	  	OPTIONAL REDEMPTION DATE:	  	MAXIMUM INTEREST
RATE:	  	MINIMUM INTEREST
RATE:
				
	N/A	  	  
	  	N/A	  	N/A
				
	TAX REDEMPTION:	  	REDEMPTION PERCENTAGE:	  	FIXED RATE PERIOD
COMMENCEMENT
DATE:	  	FIXED INTEREST RATE:
				
	Yes  ☐         No  ☒	  	100%	  	  
	  	  

				
	FIXED RATE PERIOD:	  	FLOATING RATE PERIOD COMMENCEMENT DATE:	  	FLOATING RATE
PERIOD:	  	[RESERVED]
				
		  		  		  	
				
	FROM THE ORIGINAL ISSUE DATE TO BUT EXCLUDING                         	  	  
	  	FROM                          TO
BUT EXCLUDING THE
STATED MATURITY
DATE	  	[RESERVED]
				
	HOLDER’S OPTIONAL REPAYMENT DATE(S):	  	ANNUAL REDEMPTION PERCENTAGE REDUCTION:	  	ORIGINAL YIELD TO
MATURITY:	  	DESIGNATED
LIBOR PAGE:
				
	N/A	  	N/A	  	N/A	  	REUTERS PAGE
LIBOR01
				
	INITIAL SHORT ACCRUAL PERIOD OID:	  	TOTAL AMOUNT OF OID:	  	DESIGNATED CMT
MATURITY INDEX:	  	DESIGNATED CMT
TELERATE PAGE:
				
	N/A	  	N/A	  	N/A	  	N/A
				
	OTHER PROVISIONS:	  		  		  	

 INTEREST CALCULATION: 
  

	☐	REGULAR FLOATING RATE NOTE 

	☐	FLOATING RATE/FIXED RATE NOTE 

	☒	FIXED RATE/FLOATING RATE NOTE 

	☐	INVERSE FLOATING RATE NOTE 

  
 -3- 

	☐	IF BOX IS CHECKED, THIS NOTE IS AN AMORTIZING NOTE AND INFORMATION REGARDING AMORTIZING PAYMENT DATES AND AMORTIZING PAYMENT AMOUNTS IS PROVIDED IN AN ADDENDUM. 

 

	☐	IF BOX IS CHECKED, THIS NOTE IS A RENEWABLE NOTE OR AN EXTENDIBLE NOTE AND INFORMATION REGARDING RENEWAL DATE, NEW MATURITY DATE, FINAL MATURITY DATE OR EXTENSION PERIOD, AS APPLICABLE, AND ANY OTHER APPROPRIATE
INFORMATION, IS PROVIDED IN AN ADDENDUM. 

 The Bank of New York Mellon Corporation, a Delaware corporation (the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of
            MILLION DOLLARS ($            ,000,000) on the Stated Maturity Date specified above (except to the extent redeemed or
repaid prior to the Stated Maturity Date), and to pay interest thereon at a rate per annum equal to (i) in the case of any Interest Payment Date occurring on or before             ,
the Fixed Interest Rate and (ii) in the case of any Interest Payment Date occurring after             , the Initial Floating Interest Rate specified above until the Initial Interest
Reset Date and thereafter at a rate determined in accordance with the provisions set forth below, depending upon the Base Rate specified above, until the principal hereof is paid or duly made available for payment. The Company will pay interest on
the Interest Payment Dates specified above, commencing with the first Interest Payment Date next succeeding the Original Issue Date specified above (which, for the avoidance of doubt, will be
            ), and on the Stated Maturity Date (or the Optional Redemption Date or any Holder’s Optional Repayment Date specified above, in each case with respect to which such option
has been exercised, each such Stated Maturity Date, Optional Redemption Date and Holder’s Optional Repayment Date being hereinafter referred to as a “Maturity Date” with respect to the principal repayable on such date);
provided, however, that if the Original Issue Date occurs between a Regular Record Date, as defined below, and the next succeeding Interest Payment Date or on an Interest Payment Date, interest payments will commence on the second
Interest Payment Date next succeeding the Original Issue Date, to the registered Holder of this Note on the Regular Record Date with respect to such second Interest Payment Date; and provided, further, that if an Interest Payment Date
(other than an Interest Payment Date that occurs on any Maturity Date) would fall on a day that is not a Business Day, as defined below, such Interest Payment Date shall be (i) in the case of any Interest Payment Date occurring on or before
            , such date (which shall nevertheless be the Interest Payment Date) and interest payable with respect to such Interest Payment Date will be paid on the next succeeding Business
Day and no interest on such payment shall accrue for the period from and after such Interest Payment Date and (ii) in the case of any Interest Payment Date occurring after
            , the next day that is a Business Day, except in the case that the Base Rate is LIBOR, if such next Business Day falls in the next succeeding calendar month, such Interest
Payment Date will be the next preceding day that is a Business Day. If any Maturity Date of this Note should fall on a day that is not a Business Day, the payment of interest, principal or premium, if any, due on such date shall be made on the next
day that is a Business Day and no additional interest on such amounts shall accrue from and after such Maturity Date. Interest payable on this Note on any Interest Payment Date will include interest accrued from the Original Issue Date specified
above, or the most recent date for which interest has been paid or duly provided for, to, but excluding, such Interest Payment Date or the Maturity Date, as the case may be; provided, however, that in the case of Notes that reset daily
or weekly, interest payments on each Interest Payment Date will be the amount of interest accrued 

  
 -4- 

 
from but excluding the Regular Record Date through which interest has been paid or duly provided for (or from and including the Original Issue Date specified above if no interest has been paid or
duly provided for) to and including the Regular Record Date next preceding the applicable Interest Payment Date, except that the interest payment due on the Maturity Date will include interest accrued to but excluding such date. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, subject to certain exceptions, be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the date
15 calendar days prior to an Interest Payment Date (whether or not a Business Day) (the “Regular Record Date”); provided, however, that interest payable at the Maturity Date will be payable to the Person to whom the principal
hereof shall be payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more
predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Company, notice whereof shall be given to the Holder of this Note and the Trustee not less than 10 days
prior to such Special Record Date, or may be paid at any time in any other lawful manner, all as more fully provided in the Indenture. 

Payment of the principal of, premium, if any, on and interest due on this Note will be made in immediately available funds at the office or
agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that payment of interest on any Interest Payment Date other than the Maturity Date may be made at the option of the Company (i) by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register and (ii) by wire transfer in immediately available funds at such place and to such account as may be designed by the Person entitled thereto as specified in the Security Register in writing not less than 10 days
prior to the date of the interest payment; and provided, further that payment may be made pursuant to the Applicable Procedures. A Holder of not less than $10,000,000 aggregate principal amount of the Notes having the same Interest
Payment Dates may by written notice to the Paying and Authenticating Agent and Security Registrar (referred to below) at its principal corporate trust office in The City of New York (or at such other address as the Company shall give notice in
writing), on or before the Regular Record Date preceding an Interest Payment Date, arrange to have the interest payable on all Notes held by such Holder on such Interest Payment Date, and all subsequent Interest Payment Dates until written notice to
the contrary is given to the Paying and Authenticating Agent and Security Registrar, made by wire transfer of immediately available funds to a designated account maintained at a bank in The City of New York (or other bank consented to by the
Company) as the Holder of such Notes shall have designated; provided that such bank has appropriate facilities therefor. 
 This Note is one
of a duly authorized series of securities of the Company (hereinafter called the “Securities”) issued and to be issued in one or more series under an Indenture dated as of February 9, 2016, as supplemented by the first supplemental
indenture dated as of January 30, 2017 (herein called the “Indenture”), between the Company and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee”, which term includes any successor trustee under
the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Senior Medium-Term
Notes Series J (the “Notes”) and of the terms upon which the Notes are, and are to be, authenticated and delivered. The Bank of New York Mellon, acting through its principal corporate trust office is the initial

  
 -5- 

 
Paying Agent for the payment of interest and principal of the Notes; The Bank of New York Mellon acting through its principal corporate trust office is the Authenticating Agent for the Notes; and
The Bank of New York Mellon acting through its principal corporate trust office is the Security Register for the Notes (the “Paying and Authenticating Agent and Security Registrar”). The Notes may bear different Original Issue Dates,
mature at different times, bear interest at different rates and vary in such other ways as are provided in the Indenture. 
 This Note is
not subject to any sinking fund. 
 The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness
evidenced by this Note and/or (b) certain restrictive covenants, Events of Default and Covenant Breaches with respect to this Note, in each case upon compliance by the Company with certain conditions set forth in the Indenture. At the election
of the Company, these provisions shall apply to this Note. 
 This Note may be subject to repayment at the option of the Holder on the
Holder’s Optional Repayment Date(s), if any, indicated above. If no Holder’s Optional Repayment Dates are set forth above, this Note may not be so repaid at the option of the Holder hereof prior to the Stated Maturity Date. On any
Holder’s Optional Repayment Date, this Note shall be repayable in whole or in part in increments of $1,000 (provided that any remaining principal hereof shall be at least $1,000) at the option of the Holder hereof at a repayment price equal to
100% of the principal amount to be repaid, together with interest thereon payable to the date of repayment. For this Note to be repaid in whole or in part at the option of the Holder hereof, this Note must be received, with the form entitled
“Option to Elect Repayment” below duly completed, by the Paying and Authenticating Agent and Security Registrar at the principal corporate trust office of The Bank of New York Mellon in The City of New York, or such other address which the
Company shall from time to time notify the Holder of this Note, not less than 10 nor more than 60 days prior to a Holder’s Optional Repayment Date. Exercise of such repayment option by the Holder hereof shall be irrevocable. 

This Note may be redeemed at the option of the Company on the Optional Redemption Date specified above. On the Optional Redemption Date this
Note may be redeemed in whole but not in part at the option of the Company at the applicable Redemption Price (as defined below) together with interest thereon payable to the Optional Redemption Date, on notice given to the Holder not less than 10
nor more than 60 days prior to the Optional Redemption Date. 
 Notices to the Holder of this Note with respect to redemption as provided
above will be delivered to the Holder’s address listed in the Security Register maintained by the Security Registrar not less than 10 nor more than 60 days prior to the Optional Redemption Date. Notwithstanding anything in the Indenture or this
Note to the contrary, such notice shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if
any), prescribed for the giving of such notice. 
 The “Redemption Price” shall be the Redemption Percentage specified above of
the principal amount of this Note to be redeemed. 
 On or before             ,
(i) interest payments on this Note will include interest accrued to but excluding the Interest Payment Date or the Maturity Date, as the case may be; and (ii) interest payments for this Note will be computed and paid on the basis of a 360-day year of twelve 30-day months. 

  
 -6- 

 During the Floating Rate Period, (i) accrued interest hereon shall be an amount calculated
by multiplying the principal amount hereof by an accrued interest factor; (ii) such accrued interest factor shall be computed by adding the interest factor calculated for each day from the Floating Rate Period Commencement Date or from but
excluding the last date for which interest shall have been paid, as the case may be, to the date for which accrued interest is being calculated; and (iii) the interest factor for each such day shall be computed by dividing the interest rate
applicable to such day by 360 or, in the case of Notes having the Treasury Rate or CMT Rate as their Base Rate, by the actual number of days in the year. 

Except as described below, during the Floating Rate Period, this Note will bear interest at the rate determined by reference to the Base Rate
specified above (i) plus or minus the Spread, if any, specified above and/or (ii) multiplied by the Spread Multiplier, if any, specified above. The interest rate in effect on each day during the Floating Rate Period shall be (a) if
such day is an Interest Reset Date specified above, the interest rate with respect to the Interest Determination Date (as defined below) pertaining to such Interest Reset Date or (b) if such day is not an Interest Reset Date, the interest rate
with respect to the Interest Determination Date pertaining to the next preceding Interest Reset Date, subject to the Maximum or Minimum Interest Rate specified above, if any, provided that the interest rate in effect from the Floating Rate Period
Commencement Date to the Initial Interest Reset Date shall be the Initial Floating Interest Rate; provided further for the avoidance of doubt that the Notes will not reset prior to the Floating Rate Period Commencement Date. If any Interest
Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date shall be postponed to the next day that is a Business Day, except that if the Base Rate specified above is LIBOR, if such Business Day is in the next succeeding
calendar month, such Interest Reset Date shall be the immediately preceding Business Day. If a treasury bill auction will be held on a day that would otherwise be an Interest Reset Date with respect to the Treasury Rate, then such Interest Reset
Date shall be the Business Day following such auction date. 
 The Interest Determination Date with respect to the Federal Funds Rate and
the Prime Rate will be the Business Day preceding the Interest Reset Date. The Interest Determination Date with respect to the Commercial Paper Rate and the CMT Rate will be the second Business Day preceding the Interest Reset Date. The Interest
Determination Date with respect to LIBOR shall be the second London Banking Day (as defined below) preceding an Interest Reset Date. The Interest Determination Date with respect to the Eleventh District Cost of Funds Rate shall be the last Business
Day of the month immediately preceding the applicable Interest Reset Date in which the Federal Home Loan Bank of San Francisco publishes the Index (as hereinafter defined). The Interest Determination Date with respect to the Treasury Rate shall be
the day of the week in which such Interest Reset Date falls on which Treasury bills of the Index Maturity specified above normally would be auctioned; provided, however, that if as a result of a legal holiday an auction is held on the
Friday of the week preceding the Interest Reset Date, the related Interest Determination Date shall be such preceding Friday. The Interest Determination Date with respect to a Note the interest rate of which is determined by two or more Interest
Rate Bases shall be the second Business Day next preceding the applicable Interest Reset Date on which each Base Rate is determinable. Each Base Rate shall be determined as of such date, and the applicable interest rate will take effect on the
applicable Interest Reset Date. 

  
 -7- 

 The “Calculation Date” pertaining to any Interest Determination Date shall be the
earlier of (i) the tenth calendar day after such Interest Determination Date or, if such day is not a Business Day, the next succeeding Business Day and (ii) the Business Day next preceding the applicable Interest Payment Date or the date
of Maturity, as the case may be. 
 All percentages resulting from any calculation on the Notes will be rounded, if necessary, to the
nearest one hundred-thousandth of a percentage point, with five one-millionths of a percentage point rounded upward, and all dollar amounts used in or resulting from such calculation on the Notes will be rounded to the nearest cent (with one-half
cent being rounded upward). 
 As used herein, “Business Day” means with respect to Notes denominated in U.S. dollars, any day
other than a Saturday, Sunday, legal holiday or other day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close; provided that, during the Floating Rate Period, in the
case where the Base Rate is LIBOR, such day is also a London Banking Day. “London Banking Day” means a day on which dealings in the applicable LIBOR currency are transacted in the London interbank market. For Notes having a specified
currency other than U.S. dollars (other than Notes denominated in Euros), “Business Day” means any day that, in the Principal Financial Center (as defined below) of the country of the specified currency, is not a day on which banking
institutions generally are authorized or obligated by law to close; and for Notes denominated in Euros, a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer System is open. 

The interest rate that will become effective on each subsequent Interest Reset Date will be determined by the Calculation Agent (calculated
with reference to the Base Rate or Rates and the Spread and/or Spread Multiplier, if any) as follows (such determination, in the absence of manifest error, to be binding upon all parties). 

Commercial Paper Rate 
 “Commercial Paper Rate”
means: 
 (1) the Money Market Yield (as defined below) on the particular Interest Determination Date of the rate for commercial paper having the Index
Maturity specified in the applicable pricing supplement as published in H.15(519) (as defined below) under the caption “Commercial Paper-Nonfinancial”, or 

(2) if the rate referred to in clause (1) is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the Money Market Yield
of the rate on the particular Interest Determination Date for commercial paper having the particular Index Maturity as published in H.15 Daily Update (as defined below), or such other recognized electronic source used for the purpose of displaying
the applicable rate, under the caption “Commercial Paper-Nonfinancial”, or 
 (3) if the rate referred to
in clause (2) is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on the particular Interest Determination Date calculated by the Calculation Agent as the Money Market Yield of the arithmetic mean of
the offered rates at approximately 11:00 A.M., New York City time, on that Interest Determination Date of three leading dealers of United States dollar commercial paper in The City of New York (which may include the Agents or their affiliates)
selected by the Company and identified to the Calculation Agent for commercial paper having the particular Index Maturity placed for industrial issuers whose bond rating is “Aa”, or the equivalent, from a nationally recognized statistical
rating organization, or 

  
 -8- 

 (4) if the dealers so selected by the Company are not quoting as mentioned in clause (3), the Commercial
Paper Rate in effect on the particular Interest Determination Date. 
 “Money Market Yield” means a yield (expressed as a percentage) calculated
in accordance with the following formula: 
  

											
		 	Money Market Yield	 	=	 	        D x 360        	 	x 100	 	
		 	 	 	360 – (D x M)	 	 	

 where “D” refers to the applicable per annum rate for commercial paper quoted on a bank discount basis and expressed
as a decimal, and “M” refers to the actual number of days in the applicable Interest Reset Period (the period between Interest Reset Dates). 

“H.15(519)” means the weekly statistical release designated as H.15(519), or any successor publication, published by the Board of Governors of the
Federal Reserve System. 
 “H.15 Daily Update” means the daily update of H.15(519), available through the world-wide-web site of the Board of Governors of the Federal Reserve System at http://federalreserve.gov/releases/h15/update, or any successor site or publication. 

LIBOR 
 “LIBOR” means: 

(1) the arithmetic mean of the offered rates, calculated by the Calculation Agent, or the offered rate, if the LIBOR Page by its terms provides only for a
single rate, for deposits in the LIBOR Currency having the particular Index Maturity, commencing on the related Interest Reset Date, that appear or appears, as the case may be, on the LIBOR Page as of 11:00 A.M., London time, on the particular
Interest Determination Date, or 
 (2) if no rate appears on the particular Interest Determination Date on the LIBOR Page as specified in clause (1), the
rate calculated by the Calculation Agent of at least two offered quotations obtained by the Calculation Agent after requesting the principal London offices of each of four major reference banks (which may include affiliates of the Agents) selected
by the Company and identified to the Calculation Agent, in the London interbank market to provide the Calculation Agent with its offered quotation for deposits in the LIBOR Currency for the period of the particular Index Maturity, commencing on the
related Interest Reset Date, to prime banks in the London interbank market at approximately 11:00 A.M., London time, on that Interest Determination Date and in a principal amount that is representative, as determined by the Company, for a single
transaction in the LIBOR Currency in that market at that time, or 
 (3) if fewer than two offered quotations referred to in clause (2) are provided as
requested, the rate calculated by the Calculation Agent as the arithmetic mean of the rates quoted at approximately 11:00 A.M., in the applicable Principal Financial Center (as defined below), on the particular Interest Determination Date by three
major banks (which may include affiliates of the 

  
 -9- 

 
Agents) selected by the Company and identified to the Calculation Agent, in that Principal Financial Center selected by the Calculation Agent for loans in the LIBOR Currency to leading European
banks, having the particular Index Maturity and in a principal amount that is representative, as determined by the Company, for a single transaction in the LIBOR Currency in that market at that time, or 

(4) if the banks so selected by the Company are not quoting as mentioned in clause (3), LIBOR in effect on the particular Interest Determination Date. 

“LIBOR Currency” means the currency specified in the applicable pricing supplement as to which LIBOR shall be calculated or, if no currency is
specified in the applicable pricing supplement, United States dollars. 
 “LIBOR Page” means the display on the Reuters Eikon (or any successor
service) on the “LIBOR01” page (or any other page as may replace such page on such service) for the purpose of displaying the London interbank rates of major banks for the LIBOR Currency; or 

“Principal Financial Center” means, as applicable: 
  

	 	•	 	the capital city of the country issuing the Specified Currency; 

  

	 	•	 	the capital city of the country to which the LIBOR Currency relates; or 

  

	 	•	 	London if the LIBOR Currency is the Euro; 

 provided, however, that with respect to United States
dollars, Australian dollars, Canadian dollars, South African rand and Swiss francs, the “Principal Financial Center” shall be The City of New York, Sydney and (solely in the case of the Specified Currency) Melbourne, Toronto, Johannesburg
and Zurich, respectively. 
 Federal Funds Rate 

“Federal Funds Rate” means: 
 (1) the rate as of the
particular Interest Determination Date for United States dollar federal funds as published in H.15(519) under the caption “Federal Funds (Effective)” and displayed on Reuters Monitor Money Rates Service (or any successor service) on page
FEDFUNDS1 (or any other page as may replace the specified page on that service) (“Reuters Page FEDFUNDS1”), or 
 (2) if the rate referred to in
clause (1) does not so appear on Reuters Page FEDFUNDS1 or is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate as of the particular Interest Determination Date for United States dollar federal funds
as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “Federal Funds (Effective)”, or 

(3) if the rate referred to in clause (2) is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate with respect to
the particular Interest Determination Date calculated by the Calculation Agent as the arithmetic mean of the rates for the last transaction in overnight United States dollar federal funds arranged by three leading brokers of United States dollar
federal funds transactions in The City of New York (which may include the Agents or their affiliates), selected by the Company and identified to the Calculation Agent prior to 9:00 A.M., New York City time, on the Business Day following that
Interest Determination Date, or 

  
 -10- 

 (4) if the brokers so selected by the Company are not quoting as mentioned in clause (3), the Federal Funds
Rate in effect on the particular Interest Determination Date. 
 Prime Rate 

“Prime Rate” means: 
 (1) the rate on the particular
Interest Determination Date as published in H.15(519) under the caption “Bank Prime Loan”, or 
 (2) if the rate referred to in clause (1) is
not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on the particular Interest Determination Date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of
displaying the applicable rate, under the caption “Bank Prime Loan”, or 
 (3) if the rate referred to in clause (2) is not so published by
3:00 P.M., New York City time, on the related Calculation Date, the rate on the particular Interest Determination Date calculated by the Calculation Agent as the arithmetic mean of the rates of interest publicly announced by each bank that appears
on the Reuters Screen US PRIME 1 Page (as defined below) as the applicable bank’s prime rate or base lending rate as of 11:00 A.M., New York City time, on that Interest Determination Date, or 

(4) if fewer than four rates referred to in clause (3) are so published by 3:00 p.m., New York City time, on the related Calculation Date, the rate on
the particular Interest Determination Date calculated by the Calculation Agent as the arithmetic mean of the prime rates or base lending rates quoted on the basis of the actual number of days in the year divided by a 360-day year as of the close of
business on that Interest Determination Date by three major banks (which may include affiliates of the Agents) in The City of New York selected by the Company and identified to the Calculation Agent, or 

(5) if the banks so selected by the Company are not quoting as mentioned in clause (4), the Prime Rate in effect on the particular Interest Determination
Date. 
 “Reuters Screen US PRIME 1 Page” means the display on the Reuters Monitor Money Rates Service (or any successor service) on the “US
PRIME 1” page (or any other page as may replace that page on that service) for the purpose of displaying prime rates or base lending rates of major United States banks. 

Treasury Rate 
 “Treasury Rate” means: 

(1) the rate from the auction held on the Treasury Rate Note Interest Determination Date (the “Auction”) of direct obligations of the United States
(“Treasury Bills”) having the Index Maturity specified in the applicable pricing supplement under the caption “INVESTMENT RATE” on the display on Reuters Monitor Money Rates Service (or any successor service) on page USAUCTION
10/11 (or any other page as may replace that page on that service) (“Reuters Page USAUCTION 10/11”), or 

  
 -11- 

 (2) if the rate referred to in clause (1) is not so published by 3:00 P.M., New York City time, on the
related Calculation Date, the Bond Equivalent Yield (as defined below) of the rate for the applicable Treasury bills as published in H.15 Daily Update, or another recognized electronic source used for the purpose of displaying the applicable rate,
under the caption “U.S. Government Securities/Treasury Bills/Auction High”, or 
 (3) if the rate referred to in clause (2) is not so
published by 3:00 P.M., New York City time, on the related Calculation Date, the Bond Equivalent Yield of the auction rate of the applicable Treasury bills as announced by the United States Department of the Treasury, or 

(4) if the rate referred to in clause (3) is not so announced by the United States Department of the Treasury, or if the Auction is not held, the Bond
Equivalent Yield of the rate on the particular Interest Determination Date of the applicable Treasury bills as published in H.15(519) under the caption “U.S. Government Securities/Treasury Bills/Secondary Market”, or 

(5) if the rate referred to in clause (4) not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on the particular
Interest Determination Date of the applicable Treasury bills as published in H.15 Daily Update, or another recognized electronic source used for the purpose of displaying the applicable rate selected by the Company, under the caption “U.S.
Government Securities/Treasury Bills/Secondary Market”, or 
 (6) if the rate referred to in clause (5) is not so published by 3:00 P.M., New York
City time, on the related Calculation Date, the rate on the particular Interest Determination Date calculated by the Calculation Agent as the Bond Equivalent Yield of the arithmetic mean of the secondary market bid rates, as of approximately 3:30
P.M., New York City time, on that Interest Determination Date, of three primary United States government securities dealers (which may include the Agents or their affiliates) selected by the Company and identified to the Calculation Agent, for the
issue of Treasury bills with a remaining maturity closest to the Index Maturity specified in the applicable pricing supplement, or 
 (7) if the dealers so
selected by the Company are not quoting as mentioned in clause (6), the Treasury Rate in effect on the particular Interest Determination Date. 
 “Bond
Equivalent Yield” means a yield (expressed as a percentage) calculated in accordance with the following formula: 
  

											
		 	Bond Equivalent Yield	 	=	 	        D x N        	 	x 100	 	
		 	 	 	360 – (D x M)	 	 	

 where “D” refers to the applicable per annum rate for Treasury bills quoted on a bank discount basis and expressed
as a decimal, “N” refers to 365 or 366, as the case may be, and “M” refers to the actual number of days in the applicable Interest Reset Period. 

  
 -12- 

 CMT Rate 

“CMT Rate” means: 
  

	(1)	if CMT Reuters Page FRBCMT is specified in the applicable pricing supplement: 

 (a) the
percentage equal to the yield for United States Treasury securities at “constant maturity” having the Index Maturity specified in the applicable pricing supplement as published in H.15(519) under the caption “Treasury Constant
Maturities”, as the yield is displayed on Reuters Monitor Money Rates Service (or any successor service) on page FRBCMT (or any other page as may replace the specified page on that service) (“Reuters Page FRBCMT”), for the particular
Interest Determination Date, or 
 (b) if the rate referred to in clause (a) does not so appear on Reuters Page FRBCMT, the percentage
equal to the yield for United States Treasury securities at “constant maturity” having the particular Index Maturity and for the particular Interest Determination Date as published in H.15(519) under the caption “Treasury Constant
Maturities”, or 
 (c) if the rate referred to in clause (b) does not so appear in H.15(519), the rate on the particular Interest
Determination Date for the period of the particular Index Maturity as may then be published by either the Federal Reserve System Board of Governors or the United States Department of the Treasury that the Company determines to be comparable to the
rate which would otherwise have been published in H.15(519), or 
 (d) if the rate referred to in clause (c) is not so published, the
rate on the particular Interest Determination Date calculated by the Calculation Agent as a yield to maturity based on the arithmetic mean of the secondary market bid prices at approximately 3:30 P.M., New York City time, on that Interest
Determination Date of three leading primary United States government securities dealers in The City of New York (which may include the Agents or their affiliates) (each, a “Reference Dealer”), selected by the Company and identified to the
Calculation Agent from five Reference Dealers selected by the Company and eliminating the highest quotation, or, in the event of equality, one of the highest, and the lowest quotation or, in the event of equality, one of the lowest, for United
States Treasury securities with an original maturity equal to the particular Index Maturity, a remaining term to maturity no more than 1 year shorter than that Index Maturity and in a principal amount of at least $100,000,000, or 

(e) if fewer than five but more than two of the prices referred to in clause (d) are provided as requested, the rate on the particular
Interest Determination Date calculated by the Calculation Agent based on the arithmetic mean of the bid prices obtained and neither the highest nor the lowest of the quotations shall be eliminated, or 

(f) if fewer than three prices referred to in clause (d) are provided as requested, the rate on the particular Interest Determination Date
calculated by the Calculation Agent as a yield to maturity based on the arithmetic mean of the secondary market bid prices as of approximately 3:30 P.M., New York City time, on that Interest Determination Date of three Reference Dealers
selected by the Company and identified to the Calculation Agent from five Reference Dealers selected by the Company and eliminating the highest quotation or, in the event of equality, one of the highest and the lowest quotation or, in the event of
equality, one of the lowest, for United States Treasury securities with an original maturity greater than the particular Index Maturity, a remaining term to maturity closest to that Index Maturity and in a principal amount of at least $100,000,000,
or 

  
 -13- 

 (g) if fewer than five but more than two prices referred to in clause (f) are provided as
requested, the rate on the particular Interest Determination Date calculated by the Calculation Agent based on the arithmetic mean of the bid prices obtained and neither the highest nor the lowest of the quotations will be eliminated, or 

(h) if fewer than three prices referred to in clause (f) are provided as requested, the CMT Rate in effect on the particular Interest
Determination Date. 
  

	(2)	if CMT Reuters Page FEDCMT is specified in the applicable pricing supplement: 

 (a) the
percentage equal to the one-week or one-month, as specified in the applicable pricing supplement, average yield for United States Treasury securities at “constant maturity” having the Index Maturity specified in the applicable pricing
supplement as published in H.15(519) opposite the caption “Treasury Constant Maturities”, as the yield is displayed on Reuters Monitor Money Rates Service (or any successor service) (on page FEDCMT or any other page as may replace the
specified page on that service) (“Reuters Page FEDCMT “), for the week or month, as applicable, ended immediately preceding the week or month, as applicable, in which the particular Interest Determination Date falls, or 

(b) if the rate referred to in clause (a) does not so appear on Reuters Page FEDCMT, the percentage equal to the one-week or one-month, as
specified in the applicable pricing supplement, average yield for United States Treasury securities at “constant maturity” having the particular Index Maturity and for the week or month, as applicable, preceding the particular Interest
Determination Date as published in H.15(519) opposite the caption “Treasury Constant Maturities,” or 
 (c) if the rate referred to
in clause (b) does not so appear in H.15(519), the one-week or one-month, as specified in the applicable pricing supplement, average yield for United States Treasury securities at “constant maturity” having the particular Index
Maturity as otherwise announced by the Federal Reserve Bank of New York for the week or month, as applicable, ended immediately preceding the week or month, as applicable, in which the particular Interest Determination Date falls, or 

(d) if the rate referred to in clause (c) is not so published, the rate on the particular Interest Determination Date calculated by the
Calculation Agent as a yield to maturity based on the arithmetic mean of the secondary market bid prices at approximately 3:30 P.M., New York City time, on that Interest Determination Date of three Reference Dealers selected by the Company and
identified to the Calculation Agent from five Reference Dealers selected by the Company and eliminating the highest quotation, or, in the event of equality, one of the highest, and the lowest quotation or, in the event of equality, one of the
lowest, for United States Treasury securities with an original maturity equal to the particular Index Maturity, a remaining term to maturity no more than 1 year shorter than that Index Maturity and in a principal amount of at least $100,000,000, or

 (e) if fewer than five but more than two of the prices referred to in clause (d) are provided as requested, the rate on the
particular Interest Determination Date calculated by the Calculation Agent based on the arithmetic mean of the bid prices obtained and neither the highest nor the lowest of the quotations shall be eliminated, or 

  
 -14- 

 (f) if fewer than three prices referred to in clause (d) are provided as requested, the rate
on the particular Interest Determination Date calculated by the Calculation Agent as a yield to maturity based on the arithmetic mean of the secondary market bid prices as of approximately 3:30 P.M., New York City time, on that Interest
Determination Date of three Reference Dealers selected by the Company and identified to the Calculation Agent from five Reference Dealers selected by the Company and eliminating the highest quotation or, in the event of equality, one of the highest
and the lowest quotation or, in the event of equality, one of the lowest, for United States Treasury securities with an original maturity greater than the particular Index Maturity, a remaining term to maturity closest to that Index Maturity and in
a principal amount of at least $100,000,000, or 
 (g) if fewer than five but more than two prices referred to in clause (f) are
provided as requested, the rate on the particular Interest Determination Date calculated by the Calculation Agent based on the arithmetic mean of the bid prices obtained and neither the highest or the lowest of the quotations will be eliminated, or

 (h) if fewer than three prices referred to in clause (f) are provided as requested, the CMT Rate in effect on that Interest
Determination Date. 
 If two United States Treasury securities with an original maturity greater than the Index Maturity specified in the
applicable pricing supplement have remaining terms to maturity equally close to the particular Index Maturity, the quotes for the United States Treasury security with the shorter original remaining term to maturity will be used. 

Eleventh District Cost of Funds Rate 
 “Eleventh
District Cost of Funds Rate” means: 
 (1) the rate equal to the monthly weighted average cost of funds for the calendar month immediately preceding
the month in which the particular Interest Determination Date falls as set forth under the caption “11th Dist COFI:” on the display on Reuters on page COFI/ARMS (or any other page as may replace such page on such service) (“Reuters
Page COFI/ARMS”) as of 11:00 A.M., San Francisco time, on such Interest Determination Date, or 
 (2) if the rate referred to in clause (1) does
not so appear on Reuters Page COFI/ARMS, the monthly weighted average cost of funds paid by member institutions of the Eleventh Federal Home Loan Bank District that was most recently announced (the “Index”) by the Federal Home Loan Bank of
San Francisco as the cost of funds for the calendar month immediately preceding that Interest Determination Date, or 
 (3) if the Federal Home Loan Bank of
San Francisco fails to announce the Index on or prior to the particular Interest Determination Date for the calendar month immediately preceding that Interest Determination Date, the Eleventh District Cost of Funds Rate in effect on the particular
Interest Determination Date. 
 Notwithstanding the foregoing, the interest rate hereon shall not be greater than the Maximum Interest Rate,
if any, or less than the Minimum Interest Rate, if any. The Calculation 

  
 -15- 

 
Agent shall calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date. The interest rate on this Note will 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. 
 At the request of the Holder hereof,
the Calculation Agent will provide to the Holder hereof the interest rate hereon then in effect and, if determined, the interest rate which will become effective on the next Interest Reset Date. 

The “Amortized Face Amount” of an Original Issue Discount Note shall be the amount equal to (i) the Issue Price set forth above
plus (ii) that portion of the difference between the Issue Price and the principal amount of such Note that has accrued at the Original Yield to Maturity (computed in accordance with generally accepted United States bond yield computation
principles) by the date of redemption or repayment, as calculated by an agent appointed by the Company, but in no event shall the Amortized Face Amount of an Original Issue Discount Note exceed its principal amount. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may become due and payable in the
manner and with the effect provided in the Indenture. 
 Payment of principal on this Note may be accelerated only in the case of default
for 30 days in any payment of principal of (or premium, if any, on) or interest on the Securities of this series and certain events involving the bankruptcy, insolvency or reorganization of the Company. There is no right of acceleration in the case
of a default in the performance of any other covenant of the Company. In case an Event of Default or Covenant Breach with respect to the Securities of this series shall occur and be continuing, the Trustee may in its discretion proceed to protect
and enforce its rights and the rights of the holders of the Securities of this series through appropriate judicial proceedings. The Indenture defines a Covenant Breach to include default in the deposit of any sinking fund payment, when and as due by
the terms of a Security of this series or default in the performance, or breach, of any covenant or warranty of the Company in the Indenture or any Security of this series (other than a covenant or warranty a default in whose performance or whose
breach is specifically dealt with in Section 501 of the Indenture or which has expressly been included in the Indenture solely for the benefit of securities other than Securities of this series), and continuance of such default or breach for a
period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of this series a written
notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Covenant Breach” under the Indenture. For the purpose of this paragraph, the term “series” refers to such
Securities with identical terms, except as to issue date, principal amount and, if applicable, the date from which interest begins to accrue. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding to be affected
under the Indenture, on behalf of the Holders of all securities of such series, to waive compliance by the Company with certain provisions of the 

  
 -16- 

 
Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all
future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. For the purpose of this paragraph, the
term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default or Covenant Breach in respect of such Securities, and, for purposes of any waivers of past defaults, the term
“series” refers to such Securities with identical terms, except as to issue date, principal amount and, if applicable, the date from which interest begins to accrue. 

As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding
with respect to the Indenture or this Note or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default or Covenant
Breach with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of
such Event of Default or Covenant Breach, as applicable, as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time
Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the
Holder of this Note for the enforcement of any payment of principal hereof (and premium, if any, hereon) or interest hereon on or after the respective due dates expressed herein. For purposes of this paragraph, the term “series” refers to
such Securities with identical terms, except as to issue date, principal amount and, if applicable, the date from which interest begins to accrue. 

If so provided pursuant to the terms of any specific Securities, the above-referenced provisions of the Indenture regarding the ability of
Holders to waive certain defaults, or to request the Trustee to institute proceedings (or to give the Trustee other directions) in respect thereof, may be applied differently with regard to such Securities. 

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

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

The Notes are issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which is an integral
multiple of $1,000 and, unless otherwise specified on the face hereof, shall be denominated in U.S. dollars. As provided in the Indenture, and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate
principal amount of Notes and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

  
 -17- 

 No service charge will be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due
presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 No recourse shall be had
for the payment of the principal of (and premium, if any) or the interest on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any
incorporator, shareholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or
otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released. 

The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements
made and to be performed in such State. 
 Under the Indenture, the Company, the Trustee and the holder of the Note waive, to the fullest
extent permitted by law, any right to a trial by jury in any proceeding relating to the Notes. 
 All terms used in this Note which are
defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 Except to the extent specified in this Note pursuant
to Section 301 of the Indenture, in the event of any inconsistency between the Indenture and this Note, the provisions of the Indenture shall govern. 

Unless the Certificate of Authentication hereon has been executed by the Authenticating Agent under the Indenture by the manual signature of
one of its authorized officers, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 -18- 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed, manually or in
facsimile, and its corporate seal to be imprinted hereon. 
  

			
	Dated:
	
	THE BANK OF NEW YORK MELLON CORPORATION
		
	By:	 	  

  

			
	[SEAL]
	
	Attest:
	
	  

	
	CERTIFICATE OF AUTHENTICATION:
	
	This is one of the Securities of the seriesdesignated therein referred to in the within-mentioned Indenture.
	
	Dated:
		
	By:	 	The Bank of New York Mellon
		 	As Authenticating Agent
		
	By:	 	  

		 	Authorized Officer

 OPTION TO ELECT REPAYMENT 

The undersigned hereby irrevocably request(s) and instruct(s) the Company to repay this Note (or portion hereof specified below) pursuant to
its terms at a price equal to the principal amount hereof together with interest to the repayment date, to the undersigned, at 
  

	
	  

	
	  

	(Please print or typewrite name and address of the undersigned)

 For this Note to be repaid, this Note must be received at the corporate trust office of The Bank of New York
Mellon, in The City of New York, or at such other place or places which the Company shall from time to time notify the Holder of this Note, not less than 10 nor more than 60 days prior to the Holder’s Optional Repayment Date, if any, specified
above, with this “Option to Elect Repayment” form duly completed. Exercise of such repayment option by the holder hereof shall be irrevocable. In the event of repayment of this Note in part only, a new Note or Notes for the amount of the
unpaid portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof. 
 If less than the entire principal
amount of this Note is to be repaid, specify the portion hereof (which shall be in increments of $1,000) which the Holder elects to have repaid and specify the denomination or denominations (each of which shall be $1,000 or an integral multiple of
$1,000 in excess of $1,000) of the Notes to be issued to the Holder for the portion of this Note not being repaid (in the absence of any such specification, one such Note will be issued for the portion not being repaid). 

 

					
	$                                      
               	 	  
	 	
			
	Date                                     
                	 		 	
		 		 	

 NOTICE: The signature on this Option to Elect Repayment must correspond with the name as written upon the face of this Note in
every particular, without alteration or enlargement or any change whatever. 

  
 -20- 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations. 
 TEN COM—as tenants in common 

UNIF GIFT MIN
ACT-        Custodian         

(Minor) 
 Under Uniform Gifts
to Minors Act
                                         
    
 (State) 

TEN ENT—as tenants by the entireties 

JT TEN— as joint tenants with right of survivorshipand not as tenants in common 

Additional abbreviations may also be used though not in the above list. 

  
 -21- 

									
		 		 	  
	 		 	
	
	 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 
 Please Insert Social Security or Other Identifying Number of Assignee:

					
		 		 	  
	 		 	
			
		 	  
	 	
	
	PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS
	INCLUDING ZIP CODE OF ASSIGNEE:
			
		 	  
	 	
			
		 	  
	 	
			
		 	  
	 	
	
	the within Note and all rights thereunder, and does hereby irrevocably constitute and appoint
                                         
                attorney to transfer said Note on the books of the Company, with full power of substitution in the
premises.

  

					
	Dated:
                                         
       	 	  
	 	

 NOTICE: The signature(s) to this assignment must correspond with the name as written upon the within instrument in every
particular, without alteration or enlargement, or any change whatever. 
 SIGNATURE
GUARANTEED:                                       
              
 NOTICE: The signature(s) must be guaranteed by an eligible guarantor
institution (e.g., banks, securities brokers or dealers, credit unions, national securities exchanges and savings associations) which is a member of or participant in a signature guarantee program recognized by the Securities Registrar
pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
 -22-cbt-ex101_455.htm

 

Exhibit 10.1

Execution Version

Extension Agreement to credit agreement

This EXTENSION AGREEMENT TO CREDIT AGREEMENT (this “Extension Agreement”) is made and entered into as of December 14, 2016, by and among CABOT CORPORATION, a Delaware corporation (the “Company”), the Designated Borrowers as of the date hereof (together with the Company, collectively, the “Borrowers”), JPMORGAN CHASE BANK, N.A., as Administrative Agent, and Lenders constituting Required Lenders as of the date hereof.

WHEREAS, the Borrowers are party to that certain Credit Agreement, dated as of October 23, 2015 (as the same may be amended and in effect from time to time, the “Credit Agreement”), among the Borrowers, the Lenders from time to time party thereto and the Administrative Agent; and

WHEREAS, the Borrowers have requested that the Maturity Date be extended from October 23, 2020 to October 23, 2021 pursuant to Section 2.24 of the Credit Agreement (the “Extension”) and that the Required Lenders waive the notice requirements set forth in Section 2.24 of the Credit Agreement (the “Waiver”); and

WHEREAS, certain Lenders constituting Required Lenders under the terms of the Credit Agreement and the Agent are willing to agree to the Extension and the Waiver provided that Borrower agrees to certain amendments to the Credit Agreement as set forth herein, and certain Lenders constituting Required Lenders under the terms of the Credit Agreement have agreed, on the terms and subject to the conditions set forth herein, to grant the Extension, the Waiver and make certain amendments to the Credit Agreement; and

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

1. Definitions; Loan Document.  Capitalized terms used in this Extension Agreement without definition shall have the meaning assigned to such terms in the Credit Agreement.  This Extension Agreement shall constitute a Loan Document for all purposes of the Credit Agreement and the other Loan Documents.

2. Extension of Scheduled Maturity Date.

a. Consent; Extension Effective Date.  Subject to the satisfaction of the conditions precedent set forth in Section 9 below, each Lender that executes a signature page to this Extension Agreement (each, a “Extending Lender”, and each Lender declining to agree to the requested extension being called a “Non-Extending Lender”), (i) hereby consents to the Extension and (ii) agrees that the Maturity Date with respect to each Extending Lender shall be October 23, 2021.  With respect to each Non-Extending Lender, the existing Maturity Date of October 23, 2020 shall remain in effect. 

b. Waiver of Notice Requirement.  The parties hereto agree that the Company’s notice requirements set forth in Section 2.24(a) of the Credit Agreement are hereby waived and shall not be applicable to the Extension.

3. Amendments to Section 1.01 (Defined Terms).  Section 1.01 of the Credit Agreement is hereby amended as follows:

a. New Definitions.  Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in alphabetical order:

““Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.”

““Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.”

 

8839350.6

 

 ““EEA Financial Institution” means (a) any institution established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.”

““EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein and Norway.”

““EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.”

““EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.”

 ““Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.” 

b. Amended Definitions.  Section 1.01 of the Credit Agreement is hereby amended by:

i. Amending subclause (d) of the definition of “Defaulting Lender” by replacing the words “Bankruptcy Event” with the following:  “(A) Bankruptcy Event or (B) a Bail-In Action”.

ii. Amending and restating the following definitions in their entirety to read as follows:

““Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European Union,  any European Union member state, Her Majesty’s Treasury of the United Kingdom, or other relevant sanctions authority, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b).” 

““Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state, Her Majesty’s Treasury of the United Kingdom, or other relevant sanctions authority.” 

4. Amendment to Section 2.05 (Swingline Loans).  Section 2.05 of the Credit Agreement is hereby amended by adding new subclauses (e) and (f) thereof to read as follows:

“(e) Any Swingline Lender may be replaced at any time by written agreement among the Company, the Administrative Agent, the replaced Swingline Lender and the successor Swingline Lender.  The Administrative Agent shall notify the Lenders of any such replacement of a Swingline Lender.  At the time any such replacement shall become effective, the Company shall pay all unpaid interest accrued for the account of the replaced Swingline Lender pursuant to Section 2.13(a).  From and after the effective date of any such replacement, (x) the successor Swingline Lender shall have all the rights and obligations of the replaced Swingline Lender under this Agreement with respect to Swingline Loans made thereafter and (y) references herein to the term “Swingline Lender” shall be deemed to refer to such successor or to any previous Swingline Lender, or to such successor and all previous Swingline Lenders, as the context shall require.  After the replacement of a Swingline Lender hereunder, the replaced Swingline Lender shall remain a party hereto and shall continue to have all the rights and obligations of a Swingline Lender under this Agreement with respect to Swingline Loans made by it prior to its replacement, but shall not be required to make additional Swingline Loans.

(f) Subject to the prior appointment and acceptance of a successor Swingline Lender, any Swingline Lender may resign as a Swingline Lender at any time upon thirty days’ prior written notice to the Administrative Agent, the Company and the Lenders, in which case, such Swingline Lender shall be replaced in accordance with Section 2.05(e) above.”

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5.Amendment to Section 2.06 (Letters of Credit).  Section 2.06(i) of the Credit Agreement is hereby amended by adding the following sentence at the end thereof:  “Subject to the prior appointment and acceptance of a successor Issuing Bank, any Issuing Bank may resign as an Issuing Bank at any time upon 30 days’ prior written notice to the Administrative Agent, the Company and the Lenders, in which case, such Issuing Bank shall be replaced in accordance with this Section 2.06(i).” 

6. Amendment to add new Section 3.15 (EEA Financial Institutions).  The Credit Agreement is hereby amended by adding a new Section 3.15, in appropriate numerical order, to read as follows: 

“SECTION 3.15. EEA Financial Institutions. No Borrower is an EEA Financial Institution.”

7. Amendment to add new Section 9.16 (Acknowledgement and Consent to Bail-In of EEA Financial Institutions).  The Credit Agreement is hereby amended by adding a new Section 9.16, in appropriate numerical order, to read as follows: 

“SECTION 9.16.  Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

(a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and

(b) the effects of any Bail-In Action on any such liability, including, if applicable:

(i) a reduction in full or in part or cancellation of any such liability;

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or

(iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.”

8. No Waiver.  Nothing contained in this Extension Agreement shall be deemed to (i) constitute a waiver of any Default or Event of Default that may heretofore or hereafter occur or have occurred and be continuing or to otherwise modify any provision of the Credit Agreement or any other Loan Document (except as a result of the amendments expressly set forth in Paragraphs 2 through 7 of this Extension Agreement), or (ii) give rise to any defenses or counterclaims to the Administrative Agent’s or any of the Lenders’ right to compel payment of the Obligations when due or to otherwise enforce their respective rights and remedies under the Credit Agreement and the other Loan Documents.

9. Conditions to Effectiveness.  This Extension Agreement shall become effective on the date upon which the Administrative Agent (or its counsel) shall have received, in form and substance reasonably satisfactory to the Administrative Agent:

a. Counterparts of this Extension Agreement executed by each of the Borrowers and each of the Lenders constituting Required Lenders (which may include telecopy or any other electronic transmission of a signed signature page of this Extension Agreement);

b. Such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence, corporate power and authority and good standing of each Borrower, the authorization of the extension and transactions hereunder and any other legal matters relating to the Borrowers, the Loan Documents, Extension Agreement, and the transactions hereunder, all in form and substance satisfactory to the Administrative Agent and its counsel; and

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c. A certificate executed by a Financial Officer of the Company, dated as of the effective date hereof, stating that (A) as of such date, no Default has occurred and is continuing or would result from such extension of the Maturity Date and (B) the representations and warranties of the Borrowers set forth in the Loan Documents are true in all material respects (or in all respects if the applicable representation or warranty is already qualified by concepts of materiality) on and as of such date (except to the extent any such representations or warranties are limited to an earlier date, in which case such representations and warranties shall be true in all material respects as of such earlier date).

10. Legal Fees.  The Company agrees to pay promptly, upon receiving an invoice therefor, all fees, charges and disbursements of Goulston & Storrs, PC, counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) incurred in connection with this Extension Agreement.

11. Representations and Warranties.  The Borrowers represent and warrant to the Administrative Agent and the Lenders as follows:

(a) The execution, delivery and performance of this Extension Agreement and the transactions contemplated hereby (i) are within each Borrower’s corporate powers, (ii) have been duly authorized by all necessary corporate and, if required, stockholder action, (iii) been duly executed and delivered by each Borrower, (iv) do not and will not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other Person, (v) do not and will not violate any applicable law, rule or regulation of any Governmental Authority or any Organization Document of any Borrower, and (vi) do not and will not conflict with or result in any material breach or contravention of, or the creation of any material Lien under, or require any material payment to be made under (A) any material Contractual Obligation to which any Borrower is a party or affecting any Borrower or the properties of any Borrower or any of its Subsidiaries or (B) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which any Borrower or the properties of any Borrower or any of its Subsidiaries is subject.

(b) This Extension Agreement has been duly executed and delivered by each Borrower that is party hereto and constitutes a legal, valid and binding obligation of each Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.

(c) The representations and warranties made by the Borrowers in the Loan Documents are true and correct in all material respects (or in all respects if the applicable representation or warranty is already qualified by concepts of materiality) on and as of the date hereof, as though made on the date hereof.

(d) After giving effect to this Extension Agreement, no Default or Event of Default has occurred and is continuing or would result therefrom.

12. Ratification, etc.  Except for certain provisions that are expressly amended or waived by this Extension Agreement, the Credit Agreement, the other Loan Documents and all documents, instruments and agreements related thereto are hereby ratified and confirmed in all respects and shall continue in full force and effect.  This Extension Agreement and the Credit Agreement shall hereafter be read and construed together as a single document, and all references in the Credit Agreement, any other Loan Document or any agreement or instrument related to the Credit Agreement shall hereafter refer to the Credit Agreement as amended by this Extension Agreement.

13. Reaffirmation of Guarantee.  The Company hereby reaffirms its guarantee contained in Article IX of the Credit Agreement of the payment when and as due of the Obligations of the Designated Borrowers, and acknowledges and agrees that such guarantee is and shall remain in full force and effect after giving effect to this Extension Agreement.

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14. GOVERNING LAW.  THIS EXTENSION AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

15. Counterparts.  This Extension Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Extension Agreement by telecopy, emailed .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Extension Agreement. 

[Signature Pages Follow]

 

 

 

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8839350.6

 

IN WITNESS WHEREOF, each of the undersigned has duly executed this Extension Agreement to Credit Agreement as a sealed instrument as of the date first set forth above.

 

	
CABOT CORPORATION, as the Company and a Borrower

	
 
	
 
	
 

	
By:
	
 
	
/s/Steven Delahunt

	
 
	
 
	
Name: Steven Delahunt

	
 
	
 
	
Title: Vice President and Treasurer

 

 

 

Signature Pages to Extension Agreement to Credit Agreement (JPM/Cabot)

8839350.6

 

 

	
JPMORGAN CHASE BANK, N.A., 

as Administrative Agent, an Issuing Lender, 

a Lender and an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/D. Scott Farquhar

	
 
	
 
	
Name: D. Scott Farquhar

	
 
	
 
	
Title: Executive Director

 

 

Signature Pages to Extension Agreement to Credit Agreement (JPM/Cabot)

8839350.6

 

 

	
CITIBANK, N.A., as an Issuing Bank, an 

Extending Lender and a Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Michael Vondriska

	
 
	
 
	
Name: Michal Vondriska

	
 
	
 
	
Title: Vice President

Signature Pages to Extension Agreement to Credit Agreement (JPM/Cabot)

8839350.6

 

 

	
Mizuho Bank, Ltd.,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Donna MeMagistris

	
 
	
 
	
Name: Donna MeMagistris

	
 
	
 
	
Title: Authorized Signatory

 

 

 

Signature Pages to Extension Agreement to Credit Agreement (JPM/Cabot)

8839350.6

 

 

	
TD BANK, N.A.

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Alan Garson

	
 
	
 
	
Name: Alan Garson

	
 
	
 
	
Title: Senior Vice President

 

 

10

 

 

	
Bank of America, N.A.,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Molly Kropp

	
 
	
 
	
Name: Molly Kropp

	
 
	
 
	
Title: Vice President

 

 

11

 

 

	
Wells Fargo Bank, N.A.,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Christopher S. Allen

	
 
	
 
	
Name: Christopher S. Allen

	
 
	
 
	
Title: Senior Vice President

 

 

12

 

 

	
BANK OF CHINA, NEW YORK BRANCH,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Raymond Qiao

	
 
	
 
	
Name: Raymond Qiao

	
 
	
 
	
Title: Managing Director

 

 

13

 

 

	
U.S. BANK NATIONAL ASSOCIATION,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Mark Irey

	
 
	
 
	
Name: Mark Irey

	
 
	
 
	
Title: Vice President

 

 

14

 

 

	
Citizens Bank, N.A.,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Caroline Conole

	
 
	
 
	
Name: Caroline Conole

	
 
	
 
	
Title: Officer

 

 

15

 

 

	
PNC Bank, National Association,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Michael Richards

	
 
	
 
	
Name: Michael Richards

	
 
	
 
	
Title: Senior Vice President and Managing Director

 

 

16

 

 

	
GOLDMAN SACHS BANK USA,

as an Extending Lender

	
 
	
 
	
 

	
By:
	
 
	
/s/Josh Rosenthal

	
 
	
 
	
Name: Josh Rosenthal

	
 
	
 
	
Title:Authorized Signatory

 

 

17

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