Document:

Exhibit 4.1

 

 

 

RESOLUTIONS
OF THE PRICING COMMITTEE

OF THE
BOARD OF DIRECTORS OF 

MASCO
CORPORATION 

September
9, 2020

 

WHEREAS,
the Company has filed a Registration Statement (No. 333-229556) on Form S-3 with the Securities and Exchange Commission, which
is in effect;

 

WHEREAS,
the Company previously created a series of securities designated as the “4.500% Notes Due 2047,” of which $300 million
in aggregate principal amount is currently outstanding (the “Existing 2047 Notes”), under the Indenture dated as of
February 12, 2001, as supplemented by the First Supplemental Indenture dated as of November 30, 2006 (the “Base Indenture”),
with The Bank of New York Mellon Trust Company, N.A. (as successor trustee under agreement originally with Bank One Trust Company,
National Association) (the “Trustee”), providing for the issuance from time to time of unsecured debentures, notes
or other evidences of indebtedness of this Company (“Securities”) in one or more series under such Base Indenture;

 

WHEREAS,
the Company desires to create a series of securities under the Base Indenture, as supplemented by a Second Supplemental Indenture
to be dated as of September 18, 2020 (the “Second Supplemental Indenture,” and together with the Base Indenture, the
“Indenture”), with the Trustee; and

 

WHEREAS,
capitalized terms used in these resolutions and not otherwise defined are used with the same meaning ascribed to such terms in
the Indenture.

 

NOW,
THEREFORE, IT IS RESOLVED, that there is established a series of Securities under the Indenture, the terms of which shall be as
follows (such series of Securities, the “2030 Notes”):

 

1.       Such
Securities shall be designated as the “2.000% Notes Due 2030”.

 

2.       The
aggregate principal amount of such Securities which may be authenticated and delivered under the Indenture is limited to Three
Hundred Million Dollars ($300,000,000), except for such Securities authenticated and delivered upon registration of, transfer
of, or in exchange for, or in lieu of, other Securities of the same series pursuant to Sections 3.04, 3.05, 3.06, 9.06 or 11.07
of the Indenture.

 

3.       The
date on which the principal of such Securities shall be payable is October 1, 2030. Such Securities are not subject to any sinking
fund.

 

     

     

    

4.       Such
Securities shall bear interest from September 18, 2020 at the rate of 2.000% per annum, payable semi-annually in arrears on April
1 and October 1 of each year commencing on April 1, 2021 until the principal thereof is paid or made available for payment. The
March 15 and September 15 (whether or not a business day), as the case may be, immediately preceding each such interest payment
date shall be the “record date” for the determination of holders to who interest is payable.

 

5.       Such
Securities shall be issued initially in the form of global securities registered in the name of Cede & Co. as nominee of The
Depository Trust Company (“DTC”), and will be held by the Trustee as custodian for DTC. Such Securities shall be subject
to the procedures of DTC and will not be issued in definitive registered form.

 

6.       The
principal of and interest on such Securities shall be payable at the office or agency of this Company maintained for such purpose
in Chicago, Illinois or at any other office or agency designated by the Company for such purpose pursuant to the Indenture.

 

7.       Such
Securities shall be subject to redemption in whole or in part prior to maturity, at the Company’s option, at the applicable
Redemption Price established in accordance with current market practice. “Redemption Price” means at any time prior
to July 1, 2030 (three months prior to the maturity of the Securities), the greater of (i) 100% of the principal amount of the
Securities to be redeemed, plus accrued and unpaid interest to the redemption date, and (ii) the sum of the present values of
the principal amount of and remaining scheduled payments of interest on such Securities to be redeemed that would be due if such
Securities matured on July 1, 2030 but for the redemption (not including any portion of interest accrued as of the redemption
date), discounted from the scheduled payment dates to the redemption date on a semi-annual basis at the appropriate treasury rate
plus 20 basis points plus accrued and unpaid interest to the redemption date; provided that if the Securities are redeemed
on or after July 1, 2030 (three months prior to the maturity of the Securities), the Redemption Price will equal 100% of the principal
amount of the Securities to be redeemed, plus accrued and unpaid interest to the redemption date.

 

The
Company shall provide notice of any redemption at least 10 days but not more than 60 days
before the redemption date to each holder of such Securities to be redeemed.

 

8.       Such
Securities shall be issuable in denominations of Two Thousand Dollars ($2,000) and multiples of One Thousand Dollars ($1,000)
above that amount.

 

9.       Such
Securities shall be issuable at a price such that the Company shall receive Two Hundred Ninety-Seven Million Eight Hundred Thirty-One

 

     

     

    

Thousand Dollars ($297,831,000)
after an underwriting discount of One Million Nine Hundred Fifty Thousand Dollars ($1,950,000).

 

10.       Such
Securities shall be subject to Defeasance and discharge pursuant to Section 4.02 of the Indenture and to Covenant Defeasance pursuant
to Section 10.06 of the Indenture with respect to any term, provision or condition set forth in any negative or restrictive covenant
of the Company applicable to such Securities; provided, however, that all references in Section 4.02(i) or Section 10.06(f)
of the Indenture to “Holders” shall be deemed to be references to “beneficial owners.”

 

11.       Such
Securities shall be subject to the following change of control repurchase event.

 

If
a Change of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Securities by giving notice
of such redemption to the Holders of the Securities, the Company will make an offer to each holder of Securities to repurchase
all or any part (in multiples of $1,000) of that holder’s Securities at a repurchase price in cash equal to 101% of the
aggregate principal amount of Securities repurchased plus any accrued and unpaid interest on the Securities repurchased to the
date of purchase. Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to
any Change of Control, but after the public announcement of the Change of Control, the Company will send a notice to each holder,
with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control
Repurchase Event and offering to repurchase Securities on the payment date specified in the notice, which date will be no earlier
than 30 days and no later than 60 days from the date such notice is sent. The notice shall, if sent prior to the date of consummation
of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring
on or prior to the payment date specified in the notice. The Company will comply with the requirements of Rule 14e-l under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the Securities as a result of a Change
of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change
of Control Repurchase Event provisions of the Securities, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Securities
by virtue of such conflict.

 

On
the Change of Control Repurchase Event payment date, the Company will, to the extent lawful:

 

a.       accept
for payment all Securities or portions of Securities properly tendered pursuant to the Company’s offer;

 

     

     

    

b.       deposit
with the paying agent an amount equal to the aggregate purchase price in respect of all Securities or portions of Securities properly
tendered; and

 

c.       deliver
or cause to be delivered to the Trustee the Securities properly accepted, together with an officers’ certificate stating
the aggregate principal amount of Securities being purchased by the Company.

 

The
paying agent will promptly send to each holder of Securities properly tendered the purchase price for the Securities, and the
Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each holder a new Security equal in
principal amount to any unpurchased portion of any Securities surrendered; provided that each new Security will be in a principal
amount of $2,000 or a multiple of $1,000 in excess thereof.

 

The
Company will not be required to make an offer to repurchase the Securities upon a Change of Control Repurchase Event if a third
party makes an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company
and such third party purchases all Securities properly tendered and not withdrawn under its offer.

 

“Below
Investment Grade Rating Event” means the Securities are rated below investment grade by both Rating Agencies on any date
from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period
following public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the
Securities is under publicly announced consideration for possible downgrade by either of the Rating Agencies); provided that a
Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have
occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for
purposes of the definition of Change of Control Repurchase Event hereunder) if the rating agencies making the reduction in rating
to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the Company’s
request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result
of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at
the time of the Below Investment Grade Rating Event).

 

“Change
of Control” means the consummation of any transaction (including, without limitation, any merger or consolidation) the result
of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), becomes the beneficial
owner, directly or indirectly, of more than 50% of the Company’s Voting Stock, measured by voting power rather than number
of shares.

 

     

     

    

“Change
of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 

“Investment
Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s);
a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent
investment grade credit rating from any additional rating agency or rating agencies selected by the Company.

 

“Moody’s”
means Moody’s Investors Service Inc.

 

“Rating
Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate the Securities
or fails to make a rating of the Securities publicly available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the
Company (as certified by a resolution of the Board of Directors delivered to the trustee) as a replacement agency for Moody’s
or S&P, or both, as the case may be.

 

“S&P”
means S&P Global Ratings, a division of S&P Global Inc., and any successor to its rating agency business.

 

“Voting
Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date
means the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors
of such person.

 

RESOLVED,
that the 2030 Notes are declared to be issued under the Indenture and subject to the provisions hereof;

 

RESOLVED,
that with respect to the Securities of each series, (i) the Company is authorized, if reasonably requested by the Trustee, to
provide the Trustee with such reasonable information as it has in its possession to enable the Trustee to determine whether any
payments pursuant to the applicable Indenture are subject to the withholding requirements described in Section 1471(b) of the
U.S. Internal Revenue Code of 1986 (the “Code”) or otherwise imposed pursuant to Sections 1471 through 1474 of the
Code and any regulations, or agreements thereunder or official interpretations thereof (“Applicable Law”), provided,
however, that the Company shall not be required to provide information that it is prohibited legally from disclosing; and
(ii) the Trustee shall be entitled to make any withholding or deduction from payments under the applicable Indenture to the extent
necessary to comply with Applicable Law, for which the Trustee shall not have any liability;

 

RESOLVED,
that the President and Chief Executive Officer or any Vice President of the Company is authorized to execute, on the Company’s
behalf and in its name, and the Secretary or any Assistant Secretary of the Company is

 

     

     

    

authorized to attest
to such execution and under the Company’s seal (which may be in the form of a facsimile of the Company’s seal), $300,000,000
aggregate principal amount of the 2030 Notes and $100,000,000 aggregate principal amount of the Additional 2047 Notes (and in
addition, in each case, Securities to replace lost, stolen, mutilated or destroyed Securities and Securities required for exchange,
substitution or transfer, all as provided in the applicable Indenture) and to deliver such Securities to the Trustee for authentication,
and the Trustee is authorized and directed thereupon to authenticate and deliver the same to or upon the written order of this
Company as provided in the applicable Indenture;

 

RESOLVED,
that the signatures of the Company officers so authorized to execute the Securities of each such series may be the manual or facsimile
signatures of the present or any future authorized officers and may be imprinted or otherwise reproduced thereon, and the Company
for such purpose adopts each facsimile signature as binding upon it notwithstanding the fact that at the time the respective Securities
shall be authenticated and delivered or disposed of, the individual so signing shall have ceased to hold such office;

 

RESOLVED,
that Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets, LLC are appointed joint bookrunning managers
of the underwriters for the issuance and sale of the Securities of each series authorized hereby, and the President and Chief
Executive Officer or any Vice President of the Company is authorized, in the Company’s name and on its behalf, to execute
and deliver an underwriting agreement with the underwriters, relating to the offering and sale of the Securities authorized hereby;

 

RESOLVED,
that The Bank of New York Mellon Trust Company, N.A., the Trustee under the Indenture, is appointed trustee for the Securities
of each series authorized hereby, and as Agent of this Company for the purpose of effecting the registration, transfer and exchange
of the Securities of such series as provided in the Indenture, and the corporate trust office of The Bank of New York Mellon Trust
Company, N.A., in Chicago, Illinois is designated pursuant to the Indenture as the office or agency of the Company where the Securities
of each series may be presented for registration, transfer and exchange and where notices and demands to or upon this Company
in respect of the Securities of each series and the Indenture may be served;

 

RESOLVED,
that The Bank of New York Mellon Trust Company, N.A. is appointed Paying Agent of this Company for the payment of interest on
and principal of the Securities of each series authorized hereby and the corporate trust office of The Bank of New York Mellon
Trust Company, N.A., in Chicago, Illinois is designated, pursuant to the Indenture, as the office or agency of the Company where
Securities of each series may be presented for payment; and

 

RESOLVED,
that each of the Company’s officers is authorized and directed, on behalf of the Company and in its name, to do or cause
to be done everything such officer deems advisable to effect the sale and delivery of the

 

     

     

    

Securities of each
series authorized hereby pursuant to the underwriting agreement and otherwise to carry out the Company’s obligations under
the underwriting agreement, and to do or cause to be done everything and to execute and deliver all documents as such officer
deems advisable in connection with the execution and delivery of an underwriting agreement and the execution, authentication and
delivery of the Securities of each series (including, without limiting the generality of the foregoing, delivery to the Trustee
of the Securities of each series for authentication and of requests or orders for the authentication and delivery of the Securities
of each series).

 

     

     

    

UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, 55 WATER STREET, NEW YORK, NEW YORK
(THE “DEPOSITARY”), TO MASCO CORPORATION 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 THE
DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITARY), 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.

 

MASCO
CORPORATION

 

2.000% Note
Due 2030

 

	CUSIP No. 574599 BP0	$300,000,000

No. R-1

 

Masco Corporation,
a corporation duly organized and existing under the laws of Delaware (herein called 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 Three Hundred Million Dollars on October 1, 2030, and to pay interest
thereon from September 18, 2020, or from the most recent Interest Payment Date to which interest has been paid or duly provided
for, semi-annually on April 1 and October 1 in each year, commencing April 1, 2021, at the rate of 2.000% per annum, until the
principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
March 15 or September 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided,
however, that interest payable at final maturity will be payable to the person to whom the principal hereof will 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 Security (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof
shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of any securities

 

     

     

    

exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.
Interest on the Securities of this series shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

 

Payment of
the principal of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company
maintained for that purpose, 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 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 Security Register.

 

The Securities
of this series will constitute part of the Company’s senior debt and will rank on a parity with all of its other unsecured
and unsubordinated debt.

 

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

 

Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile or
electronic signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

 

     

     

    

IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

 

Dated: September 18, 2020

 

	MASCO CORPORATION
	 
	 
	By:	 
	 	John G. Sznewajs
	 	Vice President,

        Chief
Financial Officer

Attest: ______________________

Kenneth G.
Cole 

Vice President,
General Counsel and Secretary

 

     

     

    

FORM OF
TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one
of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 

Date of Authentication: September
18, 2020

 

	The Bank
    of New York Mellon Trust Company, N.A.
	 
	 
	By:	 
	 	Authorized Signatory

  

 

     

     

    

REVERSE
OF SECURITY

 

This Security
is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and
to be issued in one or more series under an Indenture, dated as of February 12, 2001 as supplemented by the First Supplemental
Indenture dated as of November 30, 2006 and the Second Supplemental Indenture dated as of September 18, 2020 (herein called the
“Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to Bank
One Trust Company, National Association), 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, limitations of rights, duties and immunities thereunder of the Company, the Trustee and
the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to $300,000,000.

 

The Securities
of this series will be redeemable at the option of the Company, in whole at any time or in part from time to time (each, a “Redemption
Date”) at the applicable Redemption Price. “Redemption Price” means, at any time prior to July 1,
2030, the greater of (i) 100% of the principal amount of the Securities of this series to be redeemed plus accrued and unpaid
interest thereon to the Redemption Date, and (ii) the sum, as determined by the Independent Investment Banker, of the present
values of the principal amount of and the remaining scheduled payments of interest on the Securities of this series to be redeemed
that would be due if such Securities matured on July 1, 2030 but for such redemption (exclusive of interest accrued to such Redemption
Date), discounted from the scheduled payment dates 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 20 basis points plus accrued and unpaid interest thereon to the Redemption
Date; provided that if the Securities of this series are redeemed on or after July 1, 2030, “Redemption Price”
will equal 100% of the principal amount of the Securities of this series to be redeemed plus accrued and unpaid interest thereon
to the Redemption Date. Notwithstanding the foregoing, installments of interest on Securities of this series that are due and
payable on an Interest Payment Date falling on or prior to the relevant Redemption Date will be payable to the Holders of such
Securities registered as such at the close of business on the relevant record date according to their terms and the provisions
of the Indenture. Notwithstanding Section 11.04 of the Indenture, notice of any such redemption need not set forth the Redemption
Price but only the manner of calculation thereof. The Company shall give the Trustee written notice of the Redemption Price promptly
after the determination thereof and the Trustee shall have no responsibility for determining the Redemption Price.

 

If a Change
of Control Repurchase Event occurs, unless the Company has exercised its right to redeem the Securities of this series by giving
notice of such

 

     

     

    

redemption to the Holders of
the Securities of this series pursuant to Section 11.04 of the Indenture, the Company will make an offer to the Holders of Securities
of this series to repurchase all or any part (in multiples of $1,000) of such Securities at a repurchase price in cash equal to
101% of the aggregate principal amount of Securities of this series repurchased plus any accrued and unpaid interest on the Securities
of this series repurchased to the date of purchase. Within 30 days following any Change of Control Repurchase Event or, at
the Company’s option, prior to any Change of Control, but after the public announcement of the Change of Control, the Company
will send a notice to each Holder of the Securities of this series, with a copy to the Trustee, describing the transaction or
transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Securities of
this series on the Payment Date specified in the notice, which date will be no earlier than 30 days and no later than 60 days
from the date such notice is sent. The notice shall, if sent prior to the date of consummation of the Change of Control, state
that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date
specified in the notice (the “Change of Control Repurchase Event Payment Date”). The Company will comply with the
requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and
any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with
the repurchase of the Securities of this series as a result of a Change of Control Repurchase Event. To the extent that the provisions
of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Securities of this
series, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its
obligations under the Change of Control Repurchase Event provisions of the Securities of this series by virtue of such conflict.

 

On the Change
of Control Repurchase Event Payment Date, the Company will, to the extent lawful:

 

		1.	accept for payment all Securities
                                         of this series or portions of Securities of this series properly tendered pursuant to
                                         the Company’s offer;

 

		2.	deposit with the Paying Agent
                                         an amount equal to the aggregate purchase price in respect of all Securities of this
                                         series or portions of Securities of this series properly tendered; and

 

		3.	deliver or cause to be delivered
                                         to the Trustee the Securities of this series properly accepted, together with an Officers’
                                         Certificate stating the aggregate principal amount of Securities of this series being
                                         purchased by the Company.

 

The Paying
Agent will promptly send to each Holder of Securities of this series properly tendered the purchase price for the Securities of
this series, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-

 

     

     

    

entry) to each Holder a new Security
of this series equal in principal amount to any unpurchased portion of any Securities of this series surrendered; provided
that each new Security of this series will be in a principal amount of $2,000 or a multiple of $1,000 in excess thereof.

 

The Company
will not be required to make an offer to repurchase the Securities of this series upon a Change of Control Repurchase Event if
a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made
by the Company and such third party purchases all Securities of this series properly tendered and not withdrawn under its offer.

 

“Below
Investment Grade Rating Event” means the Securities of this series are rated below investment grade by both Rating Agencies
on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the
60-day period following public notice of the occurrence of a Change of Control (which period shall be extended so long as the
rating of the Securities of this series is under publicly announced consideration for possible downgrade by either of the rating
agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in
rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below
Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies
making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the
Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance
comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change
of Control shall have occurred at the time of the Below Investment Grade Rating Event).

 

“Change
of Control” means the consummation of any transaction (including, without limitation, any merger or consolidation) the
result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), becomes the beneficial
owner, directly or indirectly, of more than 50% of the Company’s Voting Stock, measured by voting power rather than number
of shares.

 

“Change
of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 

“Comparable
Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having a
maturity comparable to the remaining term of the Securities of this series to be redeemed (assuming, for this purpose, the Securities
matured on July 1, 2030) that would be utilized, at the time of selection and in accordance with customary financial practice,
in

 

     

     

    

pricing new issues of corporate
debt securities of comparable maturity to the remaining term of the Securities of this series to be redeemed.

 

“Comparable
Treasury Price” means, with respect to any Redemption Date, 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 if the Independent
Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such Reference Treasury
Dealer Quotations.

 

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

 

“Investment
Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of
Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and
the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

 

“Moody’s”
means Moody’s Investors Service Inc.

 

“Paying
Agent” means The Bank of New York Mellon Trust Company, N.A.

 

“Rating
Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases
to rate the Securities of this series or fails to make a rating of the Securities of this series publicly available for reasons
outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning
of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Company’s board of
directors delivered to the Trustee) as a replacement agency for Moody’s or S&P, or both, as the case may be.

 

“Reference
Treasury Dealer” means (a) each of Citigroup Global Markets Inc., J.P. Morgan Securities LLC or RBC Capital Markets,
LLC and their respective successors, unless any of them ceases to be a primary U.S. Government securities dealer in New York City
(a “Primary Treasury Dealer”), in which case the Company shall substitute another Primary Treasury Dealer; and (b)
any other Primary Treasury Dealers selected by the Company.

 

“Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date for the Securities
of this series, the average, as determined by the Independent Investment Banker, 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 Independent Investment
Banker by such Reference Treasury Dealer at 5:00 p.m. New York City time, on the third Business Day preceding such Redemption
Date.

 

     

     

    

“S&P”
means S&P Global Ratings, a division of S&P Global Inc. and any successor to its
rating agency business.

 

“Treasury
Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, calculated on the third Business Day preceding such Redemption Date 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.

 

“Voting
Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any
date means the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors
of such person.

 

This Security
will be subject to defeasance and discharge and to defeasance of certain obligations as set forth in the Indenture; provided,
however, that all references in Section 4.02(i) and Section 10.06(f) of the Indenture to “Holders” shall be deemed
to be references to “beneficial owners.”

 

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 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, on behalf of the Holders of all Securities of such series, to
waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security 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 Security.

 

As provided
in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding
with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such
Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the 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 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 Security for the enforcement of any payment of principal
hereof or any premium or interest hereon on or after the respective due dates expressed herein.

 

No reference
herein to the Indenture and no provision of this Security 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) and interest on this Security herein provided,
and 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 and on face of this Security, the transfer of this Security is registrable
in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company
in any place where the principal of (and premium, if any) and interest on this Security are payable, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series, of authorized denominations
and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

The Securities
of this series are issuable only in registered form without coupons in denominations of $2,000 and any multiple of $1,000 in excess
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable
for a like aggregate principal amount of Securities of this series of a different authorized denomination, as requested by the
Holder surrendering the same.

 

No service
charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.

 

Prior to
due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the owner hereof for all purposes (subject to Section 3.07 of
the Indenture), whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected
by notice to the contrary.

 

All terms
used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.Exhibit 4.2

 

 

RESOLUTIONS OF THE PRICING COMMITTEE

OF THE BOARD OF DIRECTORS OF 

MASCO CORPORATION

September 9, 2020

 

WHEREAS, the Company has filed
a Registration Statement (No. 333-229556) on Form S-3 with the Securities and Exchange Commission, which is in effect;

 

WHEREAS, the Company previously
created a series of securities designated as the “4.500% Notes Due 2047,” of which $300 million in aggregate principal
amount is currently outstanding (the “Existing 2047 Notes”), under the Indenture dated as of February 12, 2001, as
supplemented by the First Supplemental Indenture dated as of November 30, 2006 (the “Base Indenture”), with The Bank
of New York Mellon Trust Company, N.A. (as successor trustee under agreement originally with Bank One Trust Company, National Association)
(the “Trustee”), providing for the issuance from time to time of unsecured debentures, notes or other evidences of
indebtedness of this Company (“Securities”) in one or more series under such Base Indenture;

 

WHEREAS, the Company desires to
create a series of securities under the Base Indenture, as supplemented by a Second Supplemental Indenture to be dated as of September
18, 2020 (the “Second Supplemental Indenture,” and together with the Base Indenture, the “Indenture”),
with the Trustee; and

 

WHEREAS, capitalized terms used
in these resolutions and not otherwise defined are used with the same meaning ascribed to such terms in the Indenture.

 

RESOLVED, with respect to the
4.500% Notes Due 2047, that:

 

1.       An
additional One Hundred Million Dollars ($100,000,000) in aggregate principal amount of such Securities may be authenticated and
delivered under the Base Indenture (the “Additional 2047 Notes”), which shall form a single series with the Existing
2047 Notes (collectively, the “2047 Notes”).

 

2.       The
aggregate principal amount of the 2047 Notes which may be authenticated and delivered under the Base Indenture is limited to Four
Hundred Million Dollars ($400,000,000), except for such Securities authenticated and delivered upon registration of, transfer of,
or in exchange for, or in lieu of, other Securities of the same series pursuant to Sections 3.04, 3.05, 3.06, 9.06 or 11.07 of
the Base Indenture.

 

3.       The
date on which the principal of such Securities shall be payable is May 15, 2047. Such Securities are not subject to any sinking
fund.

 

      

     

    

4.       The
Additional 2047 Notes shall bear interest from September 18, 2020 at the rate of 4.500% per annum, payable semi-annually in arrears
on May 15 and November 15 of each year commencing on November 15, 2020 until the principal thereof is paid or made available for
payment. The May 1 and November 1 (whether or not a business day), as the case may be, next preceding each such interest payment
date shall be the “record date” for the determination of holders to who interest is payable.

 

5.       Such
Securities shall be issued initially in the form of global securities registered in the name of Cede & Co. as nominee of The
Depository Trust Company (“DTC”), and will be held by the Trustee as custodian for DTC. Such Securities shall be subject
to the procedures of DTC and will not be issued in definitive registered form.

 

6.       The
principal of and interest on such Securities shall be payable at the office or agency of this Company maintained for such purpose
in Chicago, Illinois or at any other office or agency designated by the Company for such purpose pursuant to the Base Indenture.

 

7.       Such
Securities shall be subject to redemption in whole or in part prior to maturity, at the Company’s option, at the applicable
Redemption Price established in accordance with current market practice. “Redemption Price” means at any time prior
to November 15, 2046 (six months prior to the maturity of the Securities), the greater of (i) 100% of the principal amount of the
Securities to be redeemed, plus accrued and unpaid interest to the redemption date, and (ii) the sum of the present values of the
principal amount of and remaining scheduled payments of interest on such Securities to be redeemed that would be due if such Securities
matured on November 15, 2046 but for the redemption (not including any portion of interest accrued as of the redemption date),
discounted from the scheduled payment dates to the redemption date on a semi-annual basis at the appropriate treasury rate plus
25 basis points plus accrued and unpaid interest to the redemption date; provided that if the Securities are redeemed on
or after November 15, 2046 (six months prior to the maturity of the Securities), the Redemption Price will equal 100% of the principal
amount of the Securities to be redeemed, plus accrued and unpaid interest to the redemption date.

 

8.       Such
Securities shall be issuable in denominations of Two Thousand Dollars ($2,000) and multiples of One Thousand Dollars ($1,000) above
that amount.

 

9.       The
Additional 2047 Notes shall be issuable at a price such that this Company shall receive One Hundred Seventeen Million Seven Hundred
Seventy-One Thousand Dollars ($117,771,000) after an underwriting discount of Eight Hundred Seventy-Five Thousand Dollars ($875,000).

 

10.       Such
Securities shall be subject to Defeasance and discharge pursuant to Section 4.02 of the Base Indenture and to Covenant Defeasance

 

    2 

     

    

pursuant to Section 10.06 of the Base Indenture with
respect to any term, provision or condition set forth in any negative or restrictive covenant of the Company applicable to such
Securities; provided, however, that all references in Section 4.02(i) or Section 10.06(f) of the Base Indenture to “Holders”
shall be deemed to be references to “beneficial owners.”

 

11.       Such
Securities shall be subject to the following change of control repurchase event.

 

If a Change of Control Repurchase
Event occurs, unless the Company has exercised its right to redeem the Securities by giving notice of such redemption to the Holders
of the Securities, the Company will make an offer to each holder of Securities to repurchase all or any part (in multiples of $1,000)
of that holder’s Securities at a repurchase price in cash equal to 101% of the aggregate principal amount of Securities repurchased
plus any accrued and unpaid interest on the Securities repurchased to the date of purchase. Within 30 days following any Change
of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement
of the Change of Control, the Company will send a notice to each holder, with a copy to the Trustee, describing the transaction
or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Securities
on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date
such notice is sent. The notice shall, if sent prior to the date of consummation of the Change of Control, state that the offer
to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the
notice. The Company will comply with the requirements of Rule 14e-l under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and any other securities laws and regulations thereunder to the extent those laws and regulations
are applicable in connection with the repurchase of the Securities as a result of a Change of Control Repurchase Event. To the
extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions
of the Securities, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached
its obligations under the Change of Control Repurchase Event provisions of the Securities by virtue of such conflict.

 

On the Change of Control Repurchase
Event payment date, the Company will, to the extent lawful:

 

a.       accept
for payment all Securities or portions of Securities properly tendered pursuant to the Company’s offer;

 

b.       deposit
with the paying agent an amount equal to the aggregate purchase price in respect of all Securities or portions of Securities properly
tendered; and

 

    3 

     

    

c.       deliver
or cause to be delivered to the Trustee the Securities properly accepted, together with an officers’ certificate stating
the aggregate principal amount of Securities being purchased by the Company.

 

The paying agent will promptly
send to each holder of Securities properly tendered the purchase price for the Securities, and the Trustee will promptly authenticate
and mail (or cause to be transferred by book-entry) to each holder a new Security equal in principal amount to any unpurchased
portion of any Securities surrendered; provided that each new Security will be in a principal amount of $2,000 or a multiple of
$1,000 in excess thereof.

 

The Company will not be required
to make an offer to repurchase the Securities upon a Change of Control Repurchase Event if a third party makes an offer in the
manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases
all Securities properly tendered and not withdrawn under its offer.

 

“Below Investment Grade
Rating Event” means the Securities are rated below investment grade by both Rating Agencies on any date from the date of
the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public
notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the Securities is under
publicly announced consideration for possible downgrade by either of the Rating Agencies); provided that a Below Investment Grade
Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of
a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition
of Change of Control Repurchase Event hereunder) if the rating agencies making the reduction in rating to which this definition
would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the Company’s request that
the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect
of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below
Investment Grade Rating Event).

 

“Change of Control”
means the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), becomes the beneficial owner, directly
or indirectly, of more than 50% of the Company’s Voting Stock, measured by voting power rather than number of shares.

 

“Change of Control Repurchase
Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 

“Investment Grade”
means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a
rating of BBB- or

 

    4 

     

    

better by S&P (or its equivalent under any successor
rating categories of S&P); and the equivalent investment grade credit rating from any additional rating agency or rating agencies
selected by the Company.

 

“Moody’s” means
Moody’s Investors Service Inc.

 

“Rating Agency” means
(1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate the Securities or fails to
make a rating of the Securities publicly available for reasons outside of the Company’s control, a “nationally recognized
statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as
certified by a resolution of the Board of Directors delivered to the trustee) as a replacement agency for Moody’s or S&P,
or both, as the case may be.

 

“S&P” means S&P
Global Ratings, a division of S&P Global Inc., and any successor to its rating agency business.

 

“Voting Stock” of
any specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date means the capital
stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person.

 

RESOLVED, that the Additional
2047 Notes are declared to be issued under the Base Indenture and subject to the provisions hereof;

 

RESOLVED, that with respect to
the Securities of each series, (i) the Company is authorized, if reasonably requested by the Trustee, to provide the Trustee with
such reasonable information as it has in its possession to enable the Trustee to determine whether any payments pursuant to the
applicable Indenture are subject to the withholding requirements described in Section 1471(b) of the U.S. Internal Revenue Code
of 1986 (the “Code”) or otherwise imposed pursuant to Sections 1471 through 1474 of the Code and any regulations, or
agreements thereunder or official interpretations thereof (“Applicable Law”), provided, however, that the Company
shall not be required to provide information that it is prohibited legally from disclosing; and (ii) the Trustee shall be entitled
to make any withholding or deduction from payments under the applicable Indenture to the extent necessary to comply with Applicable
Law, for which the Trustee shall not have any liability;

 

RESOLVED, that the President and
Chief Executive Officer or any Vice President of the Company is authorized to execute, on the Company’s behalf and in its
name, and the Secretary or any Assistant Secretary of the Company is authorized to attest to such execution and under the Company’s
seal (which may be in the form of a facsimile of the Company’s seal), $300,000,000 aggregate principal amount of the 2030
Notes and $100,000,000 aggregate principal amount of the Additional 2047 Notes (and in addition, in each case, Securities to replace
lost, stolen, mutilated or destroyed Securities and Securities required for

 

    5 

     

    

exchange, substitution or transfer, all as provided
in the applicable Indenture) and to deliver such Securities to the Trustee for authentication, and the Trustee is authorized and
directed thereupon to authenticate and deliver the same to or upon the written order of this Company as provided in the applicable
Indenture;

 

RESOLVED, that the signatures
of the Company officers so authorized to execute the Securities of each such series may be the manual or facsimile signatures of
the present or any future authorized officers and may be imprinted or otherwise reproduced thereon, and the Company for such purpose
adopts each facsimile signature as binding upon it notwithstanding the fact that at the time the respective Securities shall be
authenticated and delivered or disposed of, the individual so signing shall have ceased to hold such office;

 

RESOLVED, that Citigroup Global
Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets, LLC are appointed joint bookrunning managers of the underwriters
for the issuance and sale of the Securities of each series authorized hereby, and the President and Chief Executive Officer or
any Vice President of the Company is authorized, in the Company’s name and on its behalf, to execute and deliver an underwriting
agreement with the underwriters, relating to the offering and sale of the Securities authorized hereby;

 

RESOLVED, that The Bank of New
York Mellon Trust Company, N.A., the Trustee under the Indenture, is appointed trustee for the Securities of each series authorized
hereby, and as Agent of this Company for the purpose of effecting the registration, transfer and exchange of the Securities of
such series as provided in the Indenture, and the corporate trust office of The Bank of New York Mellon Trust Company, N.A., in
Chicago, Illinois is designated pursuant to the Indenture as the office or agency of the Company where the Securities of each series
may be presented for registration, transfer and exchange and where notices and demands to or upon this Company in respect of the
Securities of each series and the Indenture may be served;

 

RESOLVED, that The Bank of New
York Mellon Trust Company, N.A. is appointed Paying Agent of this Company for the payment of interest on and principal of the Securities
of each series authorized hereby and the corporate trust office of The Bank of New York Mellon Trust Company, N.A., in Chicago,
Illinois is designated, pursuant to the Indenture, as the office or agency of the Company where Securities of each series may be
presented for payment; and

 

RESOLVED, that each of the Company’s
officers is authorized and directed, on behalf of the Company and in its name, to do or cause to be done everything such officer
deems advisable to effect the sale and delivery of the Securities of each series authorized hereby pursuant to the underwriting
agreement and otherwise to carry out the Company’s obligations under the underwriting agreement, and to do or cause to be
done everything and to execute and deliver all documents as such officer deems advisable in connection with the execution and
delivery of an underwriting agreement and the execution, authentication and delivery of the Securities of each series (including,
without limiting the generality of the foregoing, delivery to the Trustee of the Securities of each series for authentication
and of requests or orders for the authentication and delivery of the Securities of each series).

 

    6 

     

    

UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, 55 WATER STREET, NEW YORK, NEW YORK (THE “DEPOSITARY”),
TO MASCO CORPORATION 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 THE DEPOSITARY (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), 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.

 

MASCO CORPORATION

 

4.500% Note Due 2047

 

	CUSIP No. 574599 BM7	$100,000,000

No. R-2

 

Masco Corporation, a corporation duly organized
and existing under the laws of Delaware (herein called 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 One Hundred Million Dollars on May 15, 2047, and to pay interest thereon from May 15, 2020 or from the most
recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on May 15 and November 15 in each
year, commencing November 15, 2020, at the rate of 4.500% per annum, until the principal hereof is paid or made available for payment.
The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the May 1 or November 1 (whether or not a Business Day), as the case
may be, next preceding such Interest Payment Date; provided, however, that interest payable at final maturity will be payable to
the person to whom the principal hereof will 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 Security
(or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than
10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements
of any securities

 

    7 

     

    

exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Interest on the Securities
of this series shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

 

Payment of the principal of (and premium,
if any) and any such interest on this Security will be made at the office or agency of the Company maintained for that purpose,
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 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 Security Register.

 

The Securities of this series will constitute
part of the Company’s senior debt and will rank on a parity with all of its other unsecured and unsubordinated debt.

 

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

 

Unless the certificate of authentication
hereon has been executed by the Trustee referred to on the reverse hereof by manual, facsimile or electronic signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

    8 

     

    

IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed under its corporate seal.

 

Dated: September 18, 2020

 

	MASCO CORPORATION
	 
	 
	By:	 
	 	John G. Sznewajs
	 	
        Vice President,

        Chief Financial Officer

Attest: ______________________

Kenneth G. Cole  

Vice President, General Counsel and Secretary

 

    9 

     

    

FORM OF TRUSTEE’S CERTIFICATE OF
AUTHENTICATION

 

This is one of the Securities of the series
designated therein referred to in the within-mentioned Indenture.

 

Date of Authentication: September 18, 2020

 

	The Bank of New York Mellon Trust Company, N.A.
	 
	 
	By:	 
	 	Authorized Signatory

 

    10 

     

    

REVERSE OF SECURITY

 

This Security is one of a duly authorized
issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more
series under an Indenture, dated as of February 12, 2001 as supplemented by the First Supplemental Indenture dated as of November
30, 2006 and the Second Supplemental Indenture dated as of September 18, 2020 (herein called the “Indenture”),
between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to Bank One Trust Company, National Association),
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, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon
which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face
hereof, initially limited in aggregate principal amount to $300,000,000, which initial limit was subsequently increased to $400,000,000.

 

The Securities of this series will be redeemable
at the option of the Company, in whole at any time or in part from time to time (each, a “Redemption Date”)
at the applicable Redemption Price. “Redemption Price” means, at any time prior to November 15, 2046, the greater
of (i) 100% of the principal amount of the Securities of this series to be redeemed plus accrued and unpaid interest thereon to
the Redemption Date, and (ii) the sum, as determined by the Independent Investment Banker, of the present values of the principal
amount of and the remaining scheduled payments of interest on the Securities of this series to be redeemed that would be due if
such Securities matured on November 15, 2046 but for such redemption (exclusive of interest accrued to such Redemption Date), discounted
from the scheduled payment dates 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 25 basis points plus accrued and unpaid interest thereon to the Redemption Date; provided
that if the Securities of this series are redeemed on or after November 15, 2046, “Redemption Price” will equal 100%
of the principal amount of the Securities of this series to be redeemed plus accrued and unpaid interest thereon to the Redemption
Date. Notwithstanding the foregoing, installments of interest on Securities of this series that are due and payable on an Interest
Payment Date falling on or prior to the relevant Redemption Date will be payable to the Holders of such Securities registered as
such at the close of business on the relevant record date according to their terms and the provisions of the Indenture. Notwithstanding
Section 11.04 of the Indenture, notice of any such redemption need not set forth the Redemption Price but only the manner of calculation
thereof. The Company shall give the Trustee written notice of the Redemption Price promptly after the determination thereof and
the Trustee shall have no responsibility for determining the Redemption Price.

 

    11 

     

    

If a Change of Control Repurchase Event
occurs, unless the Company has exercised its right to redeem the Securities of this series by giving notice of such redemption
to the Holders of the Securities of this series pursuant to Section 11.04 of the Indenture, the Company will make an offer to the
Holders of Securities of this series to repurchase all or any part (in multiples of $1,000) of such Securities at a repurchase
price in cash equal to 101% of the aggregate principal amount of Securities of this series repurchased plus any accrued and unpaid
interest on the Securities of this series repurchased to the date of purchase. Within 30 days following any Change of Control
Repurchase Event or, at the Company’s option, prior to any Change of Control, but after the public announcement of the Change
of Control, the Company will send a notice to each Holder of the Securities of this series, with a copy to the Trustee, describing
the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase
Securities of this series on the Payment Date specified in the notice, which date will be no earlier than 30 days and no later
than 60 days from the date such notice is sent. The notice shall, if sent prior to the date of consummation of the Change
of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to
the payment date specified in the notice (the “Change of Control Repurchase Event Payment Date”). The Company will
comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection
with the repurchase of the Securities of this series as a result of a Change of Control Repurchase Event. To the extent that the
provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Securities
of this series, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached
its obligations under the Change of Control Repurchase Event provisions of the Securities of this series by virtue of such conflict.

 

On the Change of Control Repurchase Event
Payment Date, the Company will, to the extent lawful:

 

		1.	accept for payment all Securities of this series or portions of Securities of this series properly tendered pursuant to the
Company’s offer;

 

		2.	deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all Securities of this series or
portions of Securities of this series properly tendered; and

 

		3.	deliver or cause to be delivered to the Trustee the Securities of this series properly accepted, together with an Officers’
Certificate stating the aggregate principal amount of Securities of this series being purchased by the Company.

 

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The Paying Agent will promptly send to each
Holder of Securities of this series properly tendered the purchase price for the Securities of this series, and the Trustee will
promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Security of this series equal in
principal amount to any unpurchased portion of any Securities of this series surrendered; provided that each new Security
of this series will be in a principal amount of $2,000 or a multiple of $1,000 in excess thereof.

 

The Company will not be required to make
an offer to repurchase the Securities of this series upon a Change of Control Repurchase Event if a third party makes such an offer
in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party
purchases all Securities of this series properly tendered and not withdrawn under its offer.

 

“Below Investment Grade Rating
Event” means the Securities of this series are rated below investment grade by both Rating Agencies on any date from
the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following
public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the Securities
of this series is under publicly announced consideration for possible downgrade by either of the rating agencies); provided
that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed
to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event
for purposes of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in
rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the
request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising
as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have
occurred at the time of the Below Investment Grade Rating Event).

 

“Change of Control” means
the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), becomes the beneficial owner, directly or
indirectly, of more than 50% of the Company’s Voting Stock, measured by voting power rather than number of shares.

 

“Change of Control Repurchase Event”
means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 

“Comparable Treasury Issue”
means the United States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the
remaining term of the Securities of this series to be redeemed (assuming,

 

    13 

     

    

for this purpose, the Securities matured on November 15, 2046)
that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of the Securities of this series to be redeemed.

 

“Comparable Treasury Price”
means, with respect to any Redemption Date, 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 if the Independent Investment Banker obtains
fewer than five such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

 

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

 

“Investment Grade” means
a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating
of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment
grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

 

“Moody’s” means
Moody’s Investors Service Inc.

 

“Paying Agent” means
The Bank of New York Mellon Trust Company, N.A.

 

“Rating Agency” means
(1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases to rate the Securities of
this series or fails to make a rating of the Securities of this series publicly available for reasons outside of the Company’s
control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange
Act, selected by the Company (as certified by a resolution of the Company’s board of directors delivered to the Trustee)
as a replacement agency for Moody’s or S&P, or both, as the case may be.

 

“Reference Treasury Dealer”
means (a) each of Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, RBC Capital Markets,
LLC, a primary U.S. Government securities dealer selected by Truist Securities, Inc. and their respective successors, unless any
of them ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), in
which case the Company shall substitute another Primary Treasury Dealer; and (b) any other Primary Treasury Dealers selected by
the Company.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any Redemption Date for the Securities of this series, the average, as
determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as

 

    14 

     

    

a percentage of its principal amount) quoted in writing to the
Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m. New York City time, on the third Business Day preceding
such Redemption Date.

 

“S&P” means S&P
Global Ratings, a division of S&P Global Inc. and any successor to its rating agency business.

 

“Treasury Rate” means,
with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated on the third Business Day preceding such Redemption Date 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.

 

“Voting Stock” of any
specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date means the capital
stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person.

 

This Security will be subject to defeasance
and discharge and to defeasance of certain obligations as set forth in the Indenture; provided, however, that all references
in Section 4.02(i) and Section 10.06(f) of the Indenture to “Holders” shall be deemed to be references to “beneficial
owners.”

 

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 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, on behalf of the Holders of all Securities of such series, to waive certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding
upon such Holder and upon all future Holders of this Security and of any Security 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 Security.

 

As provided in and subject to the provisions
of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture
or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given
the Trustee written notice of a continuing Event of Default with respect to the 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 as Trustee and

 

    15 

     

    

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 Security for the enforcement
of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

 

No reference herein to the Indenture and
no provision of this Security 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) and interest on this Security herein provided, and 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 and on face of this Security, the transfer of this Security is registrable in the Security Register,
upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal
of (and premium, if any) and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

 

The Securities of this series are issuable
only in registered form without coupons in denominations of $2,000 and any multiple of $1,000 in excess thereof. As provided in
the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series of a different authorized denomination, as requested by the Holder surrendering the
same.

 

No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.

 

Prior to due presentment of this Security
for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose
name this Security is registered as the owner hereof for all purposes (subject to Section 3.07 of the Indenture), whether or not
this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

All terms used in this Security which are
defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

    16

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