Document:

EX-4.3

 Exhibit 4.3 

EBAY INC. 

OFFICERS’ CERTIFICATE PURSUANT TO 

SECTIONS 2.2, 2.3 AND 10.5 OF THE BASE INDENTURE 

March 9, 2016 
 The
undersigned, being duly authorized officers of eBay Inc., a Delaware corporation (the “Company”), do hereby determine and certify solely in such capacity on behalf of the Company as follows: 

The undersigned, having read the appropriate provisions of the Indenture, dated as of October 28, 2010 (the “Base Indenture”),
as amended and supplemented by the Supplemental Indenture, dated as of October 28, 2010 (the “Supplemental Indenture”; the Base Indenture, as amended and supplemented by the Supplemental Indenture, is hereinafter sometimes called the
“Indenture”), each between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”), including Sections 2.2, 2.3, 10.4 and 10.5 thereof and the definitions in such Indenture relating thereto, and certain
other corporate documents and records, and having made such examination and investigation as, in the opinion of the undersigned, each considers necessary to enable the undersigned to express an informed opinion as to whether or not conditions set
forth in the Indenture relating to the establishment of the title and terms of two Series of the Company’s Securities designated as 2.500% Notes due 2018 and 3.800% Notes due 2022 (collectively, the “Notes”) and the respective forms
of certificates evidencing the Notes of such Series have been complied with, and whether the conditions in the Indenture relating to the execution, authentication and delivery by the Trustee of the Notes of such Series have been complied with, each
certify that: 
 1. the title and terms of the Notes of each Series were established by the undersigned pursuant to authority delegated to
them by resolutions duly adopted by the Board of Directors of the Company on June 22, 2011, July 27, 2011 and June 18, 2014, and by the duly authorized Audit Committee of the Board of Directors (the “Audit Committee”)
on January 21, 2014, October 20, 2015 and January 13, 2016, and by Unanimous Written Consent of the Audit Committee dated July 22, 2014, (collectively, the “Resolutions”) and such terms are set forth in Exhibit A
hereto; 
 2. the respective forms of certificates evidencing the Notes of such Series were established by the undersigned pursuant to
authority delegated to them by the Resolutions and are in substantially the respective forms attached as Exhibits B and C hereto (it being understood that the Notes of each Series may have such notations, legends or endorsements required by
law, stock exchange rule or usage and, in the case of Global Securities of any Series, as permitted pursuant to Section 2.15.3 of the Base Indenture and as specified in paragraph (9) of Exhibit A hereto and that, in the event that Notes of
any Series are ever issued in definitive certificated form, the legend appearing as the first paragraph on the first page of such form of Note of such Series may be removed); 

 3. a true, complete and correct copy of the Resolutions, which were duly adopted by the Board of
Directors of the Company and the Audit Committee, as the case may be, and are in full force and effect on the date hereof in the form adopted, are attached as Exhibits B-1 through B-7 to the Certificate of the
Secretary of the Company of even date herewith, a copy of which has been delivered to the Trustee; and 
 4. in the opinion of the
undersigned, the form, title and terms of the Notes of each Series have been established pursuant to and in accordance with Section 2.2 of the Indenture and comply with the Indenture and, in the opinion of the undersigned, all conditions
provided for in the Indenture (including, without limitation, those set forth in Sections 2.2 and 2.3 of the Indenture) relating to the establishment of the title and terms of the Notes of each Series, the form of certificate evidencing the Notes of
each Series and the execution, authentication and delivery of the Notes of each Series have been complied with. 
 This certificate may be
signed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same document. 

Capitalized terms used herein without definition have the meanings assigned to them in the Indenture. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, we have executed this Officers’ Certificate of the Company on the date first written
above. 
  

			
	EBAY INC.
		
	By:	 	 /s/ Scott Schenkel

	Name:	 	Scott Schenkel
	Title:	 	Senior Vice President, Finance and Chief Financial Officer
		
	By:	 	 /s/ Joseph B. Bounds

	Name:	 	Joseph B. Bounds
	Title:	 	Vice President, Treasurer

 Signature Page to Officers’ Certificate Pursuant to Base Indenture 

 Exhibit A 

Terms of Notes 
 Terms
(whether or not capitalized) used in this Exhibit A and not otherwise defined herein but that are defined in the Indenture referred to in the Officers’ Certificate of which this Exhibit A constitutes a part shall have the respective meanings
ascribed thereto in such Indenture. 
 Pursuant to Section 2.2 of the Base Indenture, there are hereby created two new Series of
Securities with the titles of “2.500% Notes due 2018” (the “2018 Notes”) and “3.800% Notes due 2022” (the “2022 Notes” and, together with the 2018 Notes, the “Notes”), and the terms of each such
Series are as follows: 
 (1) The 2018 Notes shall be a separate Series of Securities under the Indenture initially limited to $750,000,000
aggregate principal amount and the 2022 Notes shall be a separate Series of Securities under the Indenture initially limited to $750,000,000 aggregate principal amount (in each case except for Notes of any such Series authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other Notes of such Series pursuant to Section 2.7, 2.8, 2.11, 3.7 or 9.6 of the Base Indenture or pursuant to Section 18 of the respective form of Note of such Series
attached as Exhibit B or C, as the case may be, to the Officers’ Certificate of which this Exhibit A constitutes a part), but subject to the Company’s right to re-open any such Series of Notes from time to time and issue additional Notes
of such Series as provided in paragraph (11) of this Exhibit A. 
 (2) The Stated Maturity on which the principal of the 2018 Notes
shall become due and payable shall be March 9, 2018 and the Stated Maturity on which the principal of the 2022 Notes shall become due and payable shall be March 9, 2022. 

(3) The interest rate on the 2018 Notes shall be 2.500% per year and the interest rate on the 2022 Notes shall be 3.800% per year.
The interest payment dates for the 2018 Notes shall be March 9 and September 9 of each year, commencing September 9, 2016, and the regular record dates for the 2018 Notes shall be February 22 and August 25, respectively,
immediately preceding those interest payment dates. The interest payment dates for the 2022 Notes shall be March 9 and September 9 of each year, commencing September 9, 2016, and the regular record dates for the 2022 Notes shall be
February 22 and August 25, respectively, immediately preceding those interest payment dates. Interest on each Series of Notes will accrue from March 9, 2016 and will be computed on the basis of a 360-day year comprised of twelve
30-day months. 
 (4) The 2018 Notes and the 2022 Notes shall be redeemable at the option of the Company as provided in the respective forms
of Notes of such Series attached as Exhibit B and C, respectively, to the Officers’ Certificate of which this Exhibit A constitutes a part. 

(5) Each Series of Notes will be issuable in minimum denominations of $2,000 in principal amount and integral multiples of $1,000 in principal
amount in excess thereof. 

  
 A-1 

 (6) The Notes will not be entitled to the benefit of any sinking fund and will not be subject to
mandatory redemption, but the Notes of each Series shall be subject to repurchase by the Company at the option of the Holders on the terms and subject to the conditions set forth in Section 18 of the respective form of Note of such Series
attached as Exhibit B or C, as the case may be, to the Officers’ Certificate of which this Exhibit A constitutes a part. 
 (7) The
provisions of Article 8 of the Base Indenture shall be applicable to the Notes of each Series and, without limiting the foregoing, the covenants set forth in Article 4 of the Supplemental Indenture, dated as of October 28, 2010, between the
Company and the Trustee shall be subject to covenant defeasance pursuant to Section 8.4 of the Base Indenture. 
 (8) The Notes will be
senior Securities. 
 (9) The Notes of each Series shall initially be issued in the form of one or more Global Securities of such Series and
the Global Securities of each Series shall bear the respective legend set forth in Exhibit B or C, as the case may be, to the Officers’ Certificate of which this Exhibit A is a part, unless otherwise required by the Depositary. The Depository
Trust Company (“DTC”) shall act as initial Depositary with respect to the Global Securities of each Series. 
 (10) A Global
Security of any Series may not be transferred except by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor
Depositary or a nominee of such successor Depositary. 
 (11) As provided in the last paragraph of Section 2.2 of the Base Indenture,
the Company will be entitled to issue additional Notes of any Series having the same ranking and terms (except for the issue date, offering and sale prices and, if applicable, the first interest payment date and the date from which interest shall
begin to accrue) as the Notes of the same Series issued on the date of the Officers’ Certificate of which this Exhibit A constitutes a part. The Notes of any Series issued on the date of the Officers’ Certificate of which this Exhibit A
constitutes a part and any additional Notes of such Series which may from time to time be issued thereafter shall constitute a single Series of Securities under the Indenture. 

(12) The Corporate Trust Office shall be the initial office or agency where the Notes of each Series may be presented or surrendered for
payment and surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Notes of each Series and the Indenture may be served. The Company hereby appoints the Trustee as initial
Registrar and initial Paying Agent with respect to the Notes of each Series, subject to the right of the Company to replace any Paying Agent or Registrar and appoint and terminate the appointment of co-registrars and co-paying agents. 

(13) In addition to the covenants set forth in the Indenture, the provisions set forth in Section 18 of the respective form of Note of
each Series attached as Exhibit B or C, as the case may be, to the Officers’ Certificate of which this Exhibit A constitutes a part shall be applicable to the Notes of such Series. 

(14) The Notes of each Series shall have such additional terms and provisions as are contained in the respective form of Note of such Series
attached as Exhibit B or C, as the case may be, to the Officers’ Certificate of which this Exhibit A is a part, which terms and provisions are incorporated by reference in and shall form a part of this Exhibit A. 

  
 A-2 

 (15) To the extent that any of the terms or provisions set forth in this Exhibit A or in the form
of Note of any Series attached as Exhibit B or C, as the case may be, to the Officers’ Certificate of which this Exhibit A constitutes a part shall be inconsistent with any of the terms or provisions set forth in the Indenture, the terms and
provisions set forth in this Exhibit A or such form of Note, as the case may be, shall govern. 
 [Remainder of page intentionally left
blank] 

  
 A-3 

 Exhibit B 

Form of 2.500% Note due 2018 

  
 B-1 

 THIS IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR NOTES (AS DEFINED ON THE REVERSE HEREOF) REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, 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 A SUCCESSOR DEPOSITARY. UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO
THE COMPANY (AS DEFINED ON THE REVERSE HEREOF) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP: 278642AP8 

ISIN: US278642AP80 
 eBay Inc.

 2.500% Notes due 2018 
  

			
	No. -	  	$-,000,000

 eBay Inc., a Delaware corporation, for value received promises to pay to Cede & Co. or registered
assigns, the principal sum of [Amount in Words] Dollars on March 9, 2018. 
 Interest Payment Dates: March 9 and September 9,
beginning September 9, 2016. 
 Record Dates: February 22 and August 25. 

Reference is hereby made to the further provisions of this Note contained on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 
 [Signature Page Follows] 

 
					
	eBay Inc.
		
	By:	 	  

		 	Name:	 	Joseph B. Bounds
		 	Title:	 	Vice President, Treasurer

			
	This is one of the 2.500% Notes due 2018 referred to in the within-mentioned Indenture:
	
	Dated:
	
	 Wells Fargo Bank, National Association,

as Trustee

		
	By:	 	  

		 	Authorized Signatory

 (Reverse of Note) 

2.500% Notes due 2018 
 Terms,
whether or not capitalized, which are defined in the Indenture referred to below and used in this Note (as defined below) have the respective meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. INTEREST. eBay Inc., a Delaware corporation (the “Company,” which term includes its successors under the Indenture),
promises to pay interest on the principal amount of this Note at the rate of 2.500% per annum from March 9, 2016 until maturity. The Company will pay interest semi-annually in arrears on March 9 and September 9 of each year (each
an “Interest Payment Date”), commencing September 9, 2016. Interest on this Note will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly
provided for, from March 9, 2016; provided that if there is no existing default in the payment of interest, and if this Note is authenticated between a Record Date (as defined below) and the next succeeding Interest Payment Date,
interest will accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the per annum rate equal to the interest rate
on this Note to the extent lawful; and it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest at the same per annum rate to the extent lawful. Interest on this Note will
be computed on the basis of a 360-day year comprised of twelve 30-day months. The amount of interest payable on this Note on any Interest Payment Date, redemption date, Change of Control Payment Date (as
defined in Section 18 below), maturity date or other date on which interest on this Note is due will be the amount of interest accrued to, but excluding, such Interest Payment Date, redemption date, Change of Control Payment Date, maturity date
or other date, as the case may be. If an Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or other date on which any payment on this Note is due falls on a day that is not a business day, then payment of
principal and interest, as the case may be, due on such Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or other date, as the case may be, need not be made on such Interest Payment Date, redemption date, Change
of Control Payment Date, maturity date or other date, as the case may be, but may be made on the next succeeding business day, and no interest on such payment shall accrue for the period from and after such Interest Payment Date, redemption date,
Change of Control Payment Date, maturity date or other date, as the case may be. As used in this Section 1 and Section 2 below, the term “business day” means any day except a Saturday, Sunday or other day on which banking
institutions in The City of New York are authorized or obligated by law, regulation or executive order to close (a “New York business day”); provided that such term shall mean, with respect to any place of payment of principal of or
interest on the Notes, any day (a) which is not a Saturday, Sunday or other day on which banking institutions in such place of payment are authorized or obligated by law, regulation or executive order to close and (b) which is also a New
York business day. 
 2. METHOD OF PAYMENT. The Company will pay interest on the Notes due on any Interest Payment Date to the
persons who are Holders of Notes at the close of business on February 22 or August 25 (each a “Record Date”), as the case may be, whether or not a business day, immediately preceding such Interest Payment Date,
except as provided in Section 2.14 of the Base Indenture (as defined below) with respect to defaulted interest. Principal of and interest on this Note will be payable at the office or agency of any Paying Agent or, at the option of the Company,
payment of interest may be made by check mailed to the Holder of this Note at its address set forth in the register of Holders of Notes; provided that payments of principal and interest on Notes that are Global Securities registered in the
name of a Depositary or its nominee will be made by wire transfer of immediately available funds. Such payments will be in Dollars. 
 3.
PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar for the Notes. The Company may change any Paying Agent or Registrar, and may appoint
additional Paying Agents, Service Agents and co-Registrars, without notice to any Holder. In addition, the Company or any of its Subsidiaries may act in any such capacity. 

4. INDENTURE. This Note is one of a duly authorized Series of Securities (herein called the “Notes”) of the
Company issued under an indenture (the “Base Indenture”) dated as of October 28, 2010 between the Company and the Trustee, as amended and supplemented by the Supplemental Indenture dated as of October 28, 2010
between the Company and the Trustee (the “Supplemental Indenture;” the Base Indenture, as amended and 

 
supplemented by the Supplemental Indenture and any other supplemental indentures thereto, is hereinafter called the “Indenture”). The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms.
To the extent any provision of this Note or the Supplemental Indenture conflicts with any provision of the Base Indenture, the provisions of this Note or the Supplemental Indenture, as the case may be, will govern and be controlling. As provided in
the Indenture, the Company may, at its option and without the consent of or notice to Holders of the Notes, reopen this Series of Securities and issue additional Notes of this Series as provided in the Indenture. 

5. OPTIONAL REDEMPTION. The Notes are redeemable at the option of the Company, at any time in whole or from time to time in part, at a
redemption price equal to the greater of: 
 (1) 100% of the principal amount of the Notes to be redeemed, and 

(2) the sum of the present values of the remaining scheduled payments of principal of and interest on the Notes to be redeemed
(exclusive of accrued and unpaid interest to the applicable redemption date), discounted to such 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, in the case of both clauses (1) and (2) above, accrued and unpaid interest, if any, on the principal amount of the Notes being redeemed to
such redemption date. 
 Notwithstanding the foregoing, payments of interest on the Notes that are due and payable on any Interest Payment
Dates falling on or prior to a date fixed for redemption of the Notes will be payable to the Holders of such Notes registered as such at the close of business on the relevant Record Dates according to their terms and the terms and provisions of the
Indenture. 
 If less than all of the Notes are to be redeemed, then, if the Notes are evidenced by one or more Global Securities, the Notes
to be redeemed will be selected in accordance with the procedures of the Depositary or, if the Notes are evidenced by Physical Securities issued under the circumstances set forth in Section 2.15.2 of the Base Indenture, the Trustee shall select
the Notes (or portions thereof) to be redeemed in any manner that the Trustee deems fair and appropriate. Notes may be selected for redemption in whole or in part in a minimum of $2,000 in principal amount and integral multiples of $1,000 in
principal amount in excess thereof, provided that the remaining principal amount of any Note redeemed in part is $2,000 or an integral multiple of $1,000 in excess thereof. 

Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes to
be redeemed at its registered address and as otherwise provided in the Indenture. 
 Unless the Company defaults in payment of the
redemption price, on and after the redemption date interest shall cease to accrue on the Notes or portions thereof called for redemption. 

Any redemption of the Notes shall be made in accordance with the other provisions of the Indenture. 

Calculation of the redemption price shall not be a duty or obligation of the Trustee. 

As used in this Section 5, the following terms have the meanings set forth below: 

“Comparable Treasury Issue” means, with respect to any redemption date for the Notes, the United States Treasury
security selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Notes that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 
 “Comparable Treasury
Price” means, with respect to any redemption date for the Notes, (1) if the Quotation Agent obtains four or more Reference Treasury Dealer Quotations, the arithmetic average of the 

 
Reference Treasury Dealer Quotations for such redemption date after excluding the highest and lowest such Reference Treasury Dealer Quotations; (2) if the Quotation Agent obtains fewer than
four but more than one such Reference Treasury Dealer Quotations, the arithmetic average of all such Reference Treasury Dealer Quotations for such redemption date; or (3) if the Quotation Agent obtains only one such Reference Treasury Dealer
Quotation, such Reference Treasury Dealer Quotation for such redemption date. 
 “Quotation Agent” means, for
purposes of determining the redemption price of the Notes to be redeemed on any redemption date, any primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) selected by the Company. 

“Reference Treasury Dealers” means, with respect to any redemption date for the Notes, (1) J.P. Morgan Securities
LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC, or their respective successors, as the case may be (provided, however, that if any such firm or any such successor, as the case may be, shall
cease to be a Primary Treasury Dealer, another Primary Treasury Dealer shall be substituted therefor by the Company), (2) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC or its successor and (3) any other Primary Treasury
Dealer or Primary Treasury Dealers selected by the Company. 
 “Reference Treasury Dealer Quotation” means, with
respect to any Reference Treasury Dealer and any redemption date for the Notes, the arithmetic average, as determined by the Quotation Agent, 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 Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. As used in the preceding sentence, the term “business
day” means any day except a Saturday, Sunday or other day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close. 

“Treasury Rate” means, with respect to any redemption date for the Notes, the rate per annum equal to the semi-annual
equivalent yield to maturity or interpolated yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for such redemption date. 
 6. NO MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption or sinking
fund payments with respect to the Notes, but the Notes shall be subject to repurchase by the Company at the option of the Holders on the terms and subject to the conditions set forth in Section 18 of this Note. 

7. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 in principal amount
and integral multiples of $1,000 in principal amount in excess thereof. The Notes may be transferred or exchanged only by surrender thereof to the Registrar or a co-Registrar in compliance with the Indenture and either the reissuance by the Company
of the surrendered Note to the new Holder or the issuance by the Company of a new Note to the new Holder or the exchanging Holder, as the case may be. The Registrar, any co-Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and governmental charges permitted by the Indenture. Neither the Company, the Registrar nor any co-Registrar shall be required to
(a) issue, register the transfer of, or exchange Notes during the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of redemption of the Notes and ending at the close of business on the day
of such mailing, or (b) to register the transfer of or exchange Notes selected, called or being called for redemption, except any portion thereof not so selected, called or being called. 

8. PERSONS DEEMED OWNERS. The Company, the Trustee and each Agent may treat the Holder in whose name a Note is registered as the owner
thereof for the purpose of receiving payment and for all other purposes, and neither the Company, the Trustee nor any Agent shall be affected by any notice to the contrary. 

9. AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture and the Notes may be amended and supplemented with
the consent of the Holders of at least a majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a tender offer or exchange offer for the Notes), and compliance with any
provision of the Indenture or the Notes may be waived with the consent of the Holders of at least a majority in principal amount of the then outstanding Notes 

 
(including, without limitation, waivers obtained in connection with a tender offer or exchange offer for the Notes). Without notice to or the consent of any Holder of a Note, the Indenture and
the Notes may be amended and supplemented as provided in the Indenture, including, without limitation, to cure any ambiguity, defect or inconsistency or make any change that does not adversely affect the rights of any Holder of Notes in any material
respect. 
 10. DEFAULTS AND REMEDIES. If an Event of Default with respect to the Notes occurs and is continuing, the Trustee or the
Holders of not less than 25% in principal amount of the outstanding Notes may declare the principal of and accrued and unpaid interest on the outstanding Notes to be due and payable immediately or, solely in the case of an Event of Default relating
to specified events of bankruptcy or insolvency with respect to the Company, such principal and accrued and unpaid interest shall ipso facto become due and payable. As provided in the Indenture, the Holders of not less than a majority in principal
amount of the outstanding Notes may waive (including waivers obtained in connection with a tender offer or exchange offer for the Notes) any past Default with respect to the Notes and its consequences, subject to exceptions specified in the
Indenture, and may rescind and annul any acceleration of the Notes and its consequences. Holders of the Notes may not enforce the Indenture or the Notes except as provided in the Indenture. 

11. TRUSTEE DEALINGS WITH COMPANY. The Trustee in its individual or any other capacity may become the owner or pledgee of the Notes and
may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not the Trustee. 
 12.
NO RECOURSE AGAINST OTHERS. A director, officer, employee or stockholder, as such, of the Company will not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by
reason of such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. 

13. AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

 14. GOVERNING LAW. This Note shall be governed by, and construed in accordance with, the internal laws of the State of New York
applicable to agreements made and to be performed in such State, without regard to the conflict of laws provisions thereof. 
 15. LEGAL
DEFEASANCE, COVENANT DEFEASANCE AND DISCHARGE. As provided in the Indenture, the Company may, at its option, effect legal defeasance and covenant defeasance with respect to the Notes and, insofar as concerns the Notes, satisfaction and discharge
of the Indenture, all on the terms and subject to the conditions set forth in the Indenture. 
 16. ABBREVIATIONS. Customary
abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian),
and U/G/M/A (= Uniform Gifts to Minors Act). 
 17. CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

18. CHANGE OF CONTROL TRIGGERING EVENT. (a) If a Change of Control Triggering Event (as defined below) occurs with respect to the
Notes, then, unless the Company gives notice of its election to redeem all of the Notes as provided in Section 5 of this Note and such notice is given by the date specified in subsection (g) of this Section 18 and subject to the
additional exceptions specified in subsection (g) of this Section 18, the Company will be required to make an offer (a “Change of Control Offer”) to each Holder of Notes to repurchase

 
(at such Holder’s option and on the terms described below in this Section 18) all or any part (in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof,
provided that any remaining principal amount of any Note repurchased in part is $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the principal amount of the Notes
repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the Change of Control Payment Date (as defined below) (the “Change of Control Payment”); provided that, notwithstanding the foregoing, payments
of interest on Notes that are due and payable on any Interest Payment Dates falling on or prior to such Change of Control Payment Date will be payable to the Holders of such Notes registered as such at the close of business on the relevant Record
Dates according to their terms and the terms and provisions of the Indenture. 
 (b) No later than 30 days following the date on which a Change of Control
Triggering Event shall have occurred with respect to the Notes or, at the Company’s option, prior to any Change of Control (as defined below) but after the public announcement of the transaction that constitutes or may constitute the Change of
Control, the Company will, unless the Company gives notice of its election to redeem all of the Notes as provided in Section 5 of this Note and such notice is given by the date specified in subsection (g) of this Section 18 and
subject to the additional exceptions specified in subsection (g) of this Section 18), mail or cause to be mailed (or, in the case of Notes evidenced by one or more Global Securities, give or cause to be given in accordance with the
Depositary’s procedures) a notice (the “Change of Control Purchase Notice”) to all Holders of Notes (with a copy to the Trustee), which notice shall govern the terms of such Change of Control Offer. In such Change of
Control Purchase Notice, the Company shall generally describe the transaction or transactions that constitute or may constitute the Change of Control and offer to repurchase the Notes on the date specified in such notice, which date will be no
earlier than 30 days and no later than 60 days after the date such notice is mailed (or given, as the case may be), except as may be required by applicable law or regulation (the “Change of Control Payment Date”). The
Change of Control Purchase Notice shall, if mailed (or given, as the case may be) prior to occurrence of the applicable Change of Control, state that the Change of Control Offer for the Notes and the Company’s obligation to purchase the Notes
pursuant to such Change of Control Offer are conditioned on such Change of Control and the related Change of Control Triggering Event with respect to the Notes occurring on or prior to the applicable Change of Control Payment Date specified in such
notice. 
 (c) Holders of Notes electing to have a Note or portion thereof repurchased pursuant to a Change of Control Offer with respect to the Notes will
be required to surrender the Note (which, in the case of Notes evidenced by one or more Global Securities, must be made in accordance with the procedures of the Depositary), together with a duly completed and executed notice of Holder to elect
repurchase (a “Repurchase Notice”) in the form attached to this Note (which may, in the case of Notes evidenced by one or more Global Securities, be given in accordance with the Depositary’s procedures), to the Trustee
(or to such other person as may be designated by the Company for such purpose) as provided in the applicable Change of Control Purchase Notice prior to the close of business on the third business day immediately preceding the applicable Change of
Control Payment Date, and to comply with other procedures and requirements set forth in such Change of Control Purchase Notice. As used in the preceding sentence, the term “business day” means any day except a Saturday, Sunday or other day
on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close. 
 (d) On any Change of
Control Payment Date with respect to the Notes, the Company shall be required, to the extent lawful, to: 
 (1) accept for
payment all Notes or portions of Notes properly tendered pursuant to the applicable Change of Control Offer; 
 (2) deposit
with a Paying Agent for the Notes an amount equal to the aggregate Change of Control Payment in respect of all Notes or portions of Notes properly tendered pursuant to the applicable Change of Control Offer; and 

(3) deliver or cause to be delivered (including by book-entry transfer, if applicable) the repurchased Notes or portions of
Notes to the Trustee, accompanied by an Officers’ Certificate stating the aggregate principal amount of Notes accepted by the Company for repurchase. 

 (e) Interest on Notes and portions of Notes properly tendered for repurchase pursuant to a Change of Control
Offer will cease to accrue on and after the applicable Change of Control Payment Date, unless the Company shall have failed to accept such Notes and such portions of Notes for payment or failed to deposit the Change of Control Payment in respect
thereof in accordance with the subsection (d) of this Section 18. The Company shall promptly pay, or cause the Trustee or a Paying Agent for the Notes to promptly pay (by application of funds deposited by the Company as aforesaid), to each
Holder of Notes (or portions thereof) properly tendered and accepted for payment by the Company pursuant to such Change of Control Offer, the Change of Control Payment for such Notes. In the case of any Note repurchased in part, the Trustee will
promptly authenticate and mail (or cause to be delivered by book-entry transfer) to the Holder of such Note a new Note equal in principal amount to any unrepurchased portion of the Note repurchased in part. 

(f) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations to the extent those laws
and regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer with respect to the Notes. To the extent that the provisions of any such securities laws or regulations conflict with the provisions of
Section 18 of this Note or any other Notes or the Indenture, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under Section 18 of this Note or any other Notes or
the Indenture by virtue thereof. 
 (g) Notwithstanding anything to the contrary in the Indenture or Section 18 of this Note or any other Notes, the
Company shall not be required to make a Change of Control Offer for the Notes or repurchase any Notes pursuant to any Change of Control Offer for the Notes if (a) a third party agrees to make such Change of Control 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 repurchases all Notes properly tendered by the Holders pursuant to such Change of Control Offer or (b) the Company gives notice of
redemption of all of the Notes no later than 30 days after the applicable Change of Control Triggering Event with respect to the Notes. In addition, notwithstanding anything to the contrary in the Indenture or Section 18 of this Note or any
other Notes, the Company shall not be required to, and the Company shall not, repurchase Notes pursuant to a Change of Control Offer with respect to the Notes if there has occurred and is continuing on the applicable Change of Control Payment Date
an Event of Default with respect to the Notes or the Securities of any other Series Outstanding under the Indenture. 
 (h) As used in this Section 18,
the following terms have the meanings set forth below: 
 “Change of Control” means the occurrence of any of the
following: 
 (a) 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) (other than the Company or any of its Subsidiaries) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock (measured by voting power rather than number of shares), provided, however, that a person shall not be deemed the beneficial owner of, or to own
beneficially, (1) any securities tendered pursuant to a tender or exchange offer made by or on behalf of such person or any of such person’s Affiliates until such tendered securities are accepted for purchase or exchange thereunder or
(2) any securities if such beneficial ownership arises solely as a result of a revocable proxy delivered in response to a proxy or consent solicitation made pursuant to the applicable rules and regulations under the Exchange Act; 

(b) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation),
in one transaction or a series of related transactions, of all or substantially all of the properties and assets of the Company and its Subsidiaries, taken as a whole, to any person (other than the Company or any of its Subsidiaries); 

(c) the first day on which a majority of the members of the Company’s Board of Directors (which term, as used in this
definition, means the Company’s full Board of Directors and not any committees thereof) are not Continuing Directors; 

 (d) the adoption of a plan by the Company’s Board of Directors relating to
the Company’s liquidation or dissolution; or 
 (e) the Company consolidates with, or merges with or into, any person,
or any person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the outstanding Voting Stock of such other person is converted into or
exchanged for cash, securities or other property, other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of
the outstanding Voting Stock (measured by voting power rather than number of shares) of the surviving person, or any direct or indirect parent of the surviving person, immediately after giving effect to such transaction. 

Except as otherwise expressly provided in clause (a) of the first sentence of this definition, the term “person,” as used in this definition,
has the meaning set forth in the Indenture. 
 “Change of Control Triggering Event” means the occurrence of both a
Change of Control and a Rating Event with respect to the Notes. For purposes of clarity, it is understood and agreed that no Change of Control Triggering Event shall be deemed to have occurred with respect to the Notes in connection with any
particular Change of Control unless and until such Change of Control has actually occurred. 
 “Continuing
Directors” means, as of any date of determination, any member of the Company’s Board of Directors (which term, as used in this definition, means the Company’s full Board of Directors and not any committees thereof) who
(a) was a member of the Company’s Board of Directors on the date the Notes were first issued or (b) was nominated for election, elected or appointed to the Company’s Board of Directors with the approval of or by a majority of the
Continuing Directors who were members of the Company’s Board of Directors at the time of such nomination, election or appointment (either by vote or written consent or by approval of the Company’s proxy statement in which such member was
named as a nominee for election as a director without written objection to such nomination). 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and a rating equal to or higher than the equivalent investment grade credit rating from any replacement
Rating Agency or Rating Agencies selected by the Company. 
 “Moody’s” means Moody’s Investors Service,
Inc. 
 “Rating Agencies” means (a) each of Moody’s and S&P; and (b) if Moody’s or S&P
or, if applicable, any replacement Rating Agency ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” (as defined in Section 3(a)(62) of the Exchange Act) selected by the Company as a replacement for Moody’s, S&P or any such replacement Rating Agency, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by both of the Rating Agencies and as a result the Notes are
rated below an Investment Grade Rating by both of the Rating Agencies, in each case on any day during the period (the “Measurement Period”) commencing on the date of the first public announcement of an arrangement that results in a Change
of Control and ending on the 60th day following the first public announcement of the occurrence of such Change of Control (which Measurement Period shall be extended (subject to the proviso below)
if on such 60th day (x) the rating of the Notes is under publicly announced consideration for a possible downgrade by either Rating Agency and (y) the rating on the Notes by such Rating
Agency is an Investment Grade Rating, such extension to continue until the day on which each such Rating Agency considering such possible downgrade either rates the Notes below an Investment Grade Rating or publicly announces that it is no longer
considering the Notes for a possible downgrade; provided that, notwithstanding the foregoing, no such extension will occur if on such 60th day, and any such extension will terminate if at any time
after such 60th day, the Notes have an Investment Grade Rating from at least one Rating Agency and are not under publicly announced consideration for a possible downgrade by such Rating Agency).

 “S&P” means Standard & Poor’s Rating Group, Inc. 

“Voting Stock” means, with respect to any person, any Capital Stock of such person that is normally entitled (without
regard to the occurrence of any contingency) to vote generally in the election of directors, managers, trustees or similar persons, as applicable, of such person. 

“Wholly-Owned Subsidiary” means, with respect to any specified person, any other person all of whose outstanding
Capital Stock (other than directors’ qualifying shares or similar equity interests) is at the time owned, directly or indirectly, by such specified person and/or one or more other Wholly-Owned Subsidiaries of such specified person. 

As used in this Section 18, all references to rule and regulations under the Exchange Act shall include any successor provisions thereto.

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	 	  

		 	(Insert assignee’s legal name)

  

			
	  

	(Insert assignee’s soc. sec. tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

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

  

			
	and irrevocably appoint	 	  

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

 

					
	Date:	 	  
	 	

							
				
		 		 	Your Signature:	 	  

		 		 		 	(sign exactly as your name(s) appear(s) on the face of this Note)

							
				
		 		 	Tax Identification No:	 	  

				
		 		 	Signature Guarantee:	 	  

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar for
this Note, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 Notice of Holder to Elect Repurchase 

eBay Inc. 
 2.500% Notes due 2018
(the “Notes”) 
 To: eBay Inc. 

Wells Fargo Bank, National Association, as Trustee 

The undersigned registered holder of this Note hereby acknowledges receipt of a Change of Control Purchase Notice from eBay Inc. (the
“Company”) and hereby surrenders this Note (or the portion of the principal amount of this Note set forth below) for repurchase by the Company on the terms and subject to the conditions set forth in Section 18 of this Note and
in the Change of Control Purchase Notice. Capitalized terms used herein but not defined shall have meanings set forth in this Note. 
 If you
elect to have only a part of this Note repurchased by the Company, indicate the principal amount you elect to have repurchased in the following space; if you do not indicate a principal amount in the following space it means that you elect to have
this entire Note repurchased by the Company: 
  

					
	Principal amount surrendered for repurchase $	 	  
	 	
		 	(must be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof and any portion of this Note not surrendered for repurchase must be in a principal amount of $2,000 or an integral multiple of $1,000 in
excess thereof)	 	

 If the Note you are surrendering for repurchase is in physical form, insert the certificate number of the Note
in the following space: 
  

							
		 	Certificate No.	 	  
	 	

							
				
		 	Date:	 	  
	 	

  

							
				
		 		 	Your Signature:	 	  

		 		 		 	(sign exactly as your name(s) appear(s) on the face of this Note)

							
				
		 		 	Tax Identification No:	 	  

				
		 		 	Signature Guarantee:	 	  

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar for
this Note, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 Exhibit C 

Form of 3.800% Note due 2022 

  
 C-1 

 THIS IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR NOTES (AS DEFINED ON THE REVERSE HEREOF) REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, 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 A SUCCESSOR DEPOSITARY. UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO
THE COMPANY (AS DEFINED ON THE REVERSE HEREOF) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CUSIP: 278642AN3 

ISIN: US278642AN33 
 eBay Inc.

 3.800% Notes due 2022 
  

			
	No. -	  	$-,000,000

 eBay Inc., a Delaware corporation, for value received promises to pay to Cede & Co. or registered
assigns, the principal sum of [Amount in Words] Dollars on March 9, 2022. 
 Interest Payment Dates: March 9 and September 9,
beginning September 9, 2016. 
 Record Dates: February 22 and August 25. 

Reference is hereby made to the further provisions of this Note contained on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 
 [Signature Page Follows] 

 
					
	eBay Inc.
		
	By:	 	  

		 	Name:	 	Joseph B. Bounds
		 	Title:	 	Vice President, Treasurer

			
	This is one of the 3.800% Notes due 2022 referred to in the within-mentioned Indenture:
	
	Dated:
	
	 Wells Fargo Bank, National Association,

as Trustee

		
	By:	 	  

		 	Authorized Signatory

 (Reverse of Note) 

3.800% Notes due 2022 
 Terms,
whether or not capitalized, which are defined in the Indenture referred to below and used in this Note (as defined below) have the respective meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. INTEREST. eBay Inc., a Delaware corporation (the “Company,” which term includes its successors under the Indenture),
promises to pay interest on the principal amount of this Note at the rate of 3.800% per annum from March 9, 2016 until maturity. The Company will pay interest semi-annually in arrears on March 9 and September 9 of each year (each
an “Interest Payment Date”), commencing September 9, 2016. Interest on this Note will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly
provided for, from March 9, 2016; provided that if there is no existing default in the payment of interest, and if this Note is authenticated between a Record Date (as defined below) and the next succeeding Interest Payment Date,
interest will accrue from such next succeeding Interest Payment Date. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the per annum rate equal to the interest rate
on this Note to the extent lawful; and it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest at the same per annum rate to the extent lawful. Interest on this Note will
be computed on the basis of a 360-day year comprised of twelve 30-day months. The amount of interest payable on this Note on any Interest Payment Date, redemption date, Change of Control Payment Date (as defined in Section 18 below), maturity
date or other date on which interest on this Note is due will be the amount of interest accrued to, but excluding, such Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or other date, as the case may be. If an
Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or other date on which any payment on this Note is due falls on a day that is not a business day, then payment of principal and interest, as the case may be, due
on such Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or other date, as the case may be, need not be made on such Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or other
date, as the case may be, but may be made on the next succeeding business day, and no interest on such payment shall accrue for the period from and after such Interest Payment Date, redemption date, Change of Control Payment Date, maturity date or
other date, as the case may be. As used in this Section 1 and Section 2 below, the term “business day” means any day except a Saturday, Sunday or other day on which banking institutions in The City of New York are authorized or
obligated by law, regulation or executive order to close (a “New York business day”); provided that such term shall mean, with respect to any place of payment of principal of or interest on the Notes, any day (a) which is not a
Saturday, Sunday or other day on which banking institutions in such place of payment are authorized or obligated by law, regulation or executive order to close and (b) which is also a New York business day. 

2. METHOD OF PAYMENT. The Company will pay interest on the Notes due on any Interest Payment Date to the persons who are Holders of
Notes at the close of business on February 22 or August 25 (each a “Record Date”), as the case may be, whether or not a business day, immediately preceding such Interest Payment Date, except as provided in
Section 2.14 of the Base Indenture (as defined below) with respect to defaulted interest. Principal of and interest on this Note will be payable at the office or agency of any Paying Agent or, at the option of the Company, payment of interest
may be made by check mailed to the Holder of this Note at its address set forth in the register of Holders of Notes; provided that payments of principal and interest on Notes that are Global Securities registered in the name of a Depositary
or its nominee will be made by wire transfer of immediately available funds. Such payments will be in Dollars. 
 3. PAYING AGENT AND
REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar for the Notes. The Company may change any Paying Agent or Registrar, and may appoint additional Paying Agents,
Service Agents and co-Registrars, without notice to any Holder. In addition, the Company or any of its Subsidiaries may act in any such capacity. 

4. INDENTURE. This Note is one of a duly authorized Series of Securities (herein called the “Notes”) of the
Company issued under an indenture (the “Base Indenture”) dated as of October 28, 2010 between the Company and the Trustee, as amended and supplemented by the Supplemental Indenture dated as of October 28, 2010
between the Company and the Trustee (the “Supplemental Indenture;” the Base Indenture, as amended and 

 
supplemented by the Supplemental Indenture and any other supplemental indentures thereto, is hereinafter called the “Indenture”). The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended. The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms.
To the extent any provision of this Note or the Supplemental Indenture conflicts with any provision of the Base Indenture, the provisions of this Note or the Supplemental Indenture, as the case may be, will govern and be controlling. As provided in
the Indenture, the Company may, at its option and without the consent of or notice to Holders of the Notes, reopen this Series of Securities and issue additional Notes of this Series as provided in the Indenture. 

5. OPTIONAL REDEMPTION. The Notes are redeemable at the option of the Company, at any time in whole or from time to time in part, prior
to February 9, 2022 (the “Par Call Date”) at a redemption price equal to the greater of: 
 (1)
100% of the principal amount of the Notes to be redeemed, and 
 (2) the sum of the present values of the remaining scheduled
payments of principal of and interest on the Notes to be redeemed (exclusive of accrued and unpaid interest to the applicable redemption date) that would be due if the Notes matured on the Par Call Date, discounted to such redemption date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 40 basis points, 
 plus, in the case of both
clauses (1) and (2) above, accrued and unpaid interest, if any, on the principal amount of the Notes being redeemed to such redemption date. 

On and after the Par Call Date, the Notes are redeemable at the option of the Company, at any time in whole or from time to time in part, at a
redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, on the principal amount of the Notes being redeemed to the applicable redemption date. 

Notwithstanding the foregoing, payments of interest on the Notes that are due and payable on any Interest Payment Dates falling on or prior to
a date fixed for redemption of the Notes will be payable to the Holders of such Notes registered as such at the close of business on the relevant Record Dates according to their terms and the terms and provisions of the Indenture. 

If less than all of the Notes are to be redeemed, then, if the Notes are evidenced by one or more Global Securities, the Notes to be redeemed
will be selected in accordance with the procedures of the Depositary or, if the Notes are evidenced by Physical Securities issued under the circumstances set forth in Section 2.15.2 of the Base Indenture, the Trustee shall select the Notes (or
portions thereof) to be redeemed in any manner that the Trustee deems fair and appropriate. Notes may be selected for redemption in whole or in part in a minimum of $2,000 in principal amount and integral multiples of $1,000 in principal amount in
excess thereof, provided that the remaining principal amount of any Note redeemed in part is $2,000 or an integral multiple of $1,000 in excess thereof. 

Notice of any redemption shall be mailed at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes to
be redeemed at its registered address and as otherwise provided in the Indenture. 
 Unless the Company defaults in payment of the
redemption price, on and after the redemption date interest shall cease to accrue on the Notes or portions thereof called for redemption. 

Any redemption of the Notes shall be made in accordance with the other provisions of the Indenture. 

Calculation of the redemption price shall not be a duty or obligation of the Trustee. 

 As used in this Section 5, the following terms have the meanings set forth below: 

“Comparable Treasury Issue” means, with respect to any redemption date for the Notes, the United States Treasury
security selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Notes (assuming the Notes matured on the Par Call Date) 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 Notes (assuming the Notes matured on the Par Call Date). 

“Comparable Treasury Price” means, with respect to any redemption date for the Notes, (1) if the Quotation Agent
obtains four or more Reference Treasury Dealer Quotations, the arithmetic average of the Reference Treasury Dealer Quotations for such redemption date after excluding the highest and lowest such Reference Treasury Dealer Quotations; (2) if the
Quotation Agent obtains fewer than four but more than one such Reference Treasury Dealer Quotations, the arithmetic average of all such Reference Treasury Dealer Quotations for such redemption date; or (3) if the Quotation Agent obtains only
one such Reference Treasury Dealer Quotation, such Reference Treasury Dealer Quotation for such redemption date. 
 “Quotation
Agent” means, for purposes of determining the redemption price of the Notes to be redeemed on any redemption date, any primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”) selected by
the Company. 
 “Reference Treasury Dealers” means, with respect to any redemption date for the Notes, (1) J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC, or their respective successors, as the case may be (provided, however, that if any such firm or any such successor, as the case
may be, shall cease to be a Primary Treasury Dealer, another Primary Treasury Dealer shall be substituted therefor by the Company), (2) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC or its successor and (3) any other
Primary Treasury Dealer or Primary Treasury Dealers selected by the Company. 
 “Reference Treasury Dealer
Quotation” means, with respect to any Reference Treasury Dealer and any redemption date for the Notes, the arithmetic average, as determined by the Quotation Agent, 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 Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. As used in the
preceding sentence, the term “business day” means any day except a Saturday, Sunday or other day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close. 

“Treasury Rate” means, with respect to any redemption date for the Notes, the rate per annum equal to the semi-annual
equivalent yield to maturity or interpolated yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for such redemption date. 
 6. NO MANDATORY REDEMPTION. The Company shall not be required to make mandatory redemption or sinking
fund payments with respect to the Notes, but the Notes shall be subject to repurchase by the Company at the option of the Holders on the terms and subject to the conditions set forth in Section 18 of this Note. 

7. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 in principal amount
and integral multiples of $1,000 in principal amount in excess thereof. The Notes may be transferred or exchanged only by surrender thereof to the Registrar or a co-Registrar in compliance with the Indenture and either the reissuance by the Company
of the surrendered Note to the new Holder or the issuance by the Company of a new Note to the new Holder or the exchanging Holder, as the case may be. The Registrar, any co-Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and governmental charges permitted by the Indenture. Neither the Company, the Registrar nor any co-Registrar shall be required to
(a) issue, register the transfer of, or exchange Notes during the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of redemption of the Notes and ending at the close of business on the day
of such mailing, or (b) to register the transfer of or exchange Notes selected, called or being called for redemption, except any portion thereof not so selected, called or being called. 

 8. PERSONS DEEMED OWNERS. The Company, the Trustee and each Agent may treat the Holder in
whose name a Note is registered as the owner thereof for the purpose of receiving payment and for all other purposes, and neither the Company, the Trustee nor any Agent shall be affected by any notice to the contrary. 

9. AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture and the Notes may be amended and supplemented with
the consent of the Holders of at least a majority in principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a tender offer or exchange offer for the Notes), and compliance with any
provision of the Indenture or the Notes may be waived with the consent of the Holders of at least a majority in principal amount of the then outstanding Notes (including, without limitation, waivers obtained in connection with a tender offer or
exchange offer for the Notes). Without notice to or the consent of any Holder of a Note, the Indenture and the Notes may be amended and supplemented as provided in the Indenture, including, without limitation, to cure any ambiguity, defect or
inconsistency or make any change that does not adversely affect the rights of any Holder of Notes in any material respect. 
 10.
DEFAULTS AND REMEDIES. If an Event of Default with respect to the Notes occurs and is continuing, the Trustee or the Holders of not less than 25% in principal amount of the outstanding Notes may declare the principal of and accrued and unpaid
interest on the outstanding Notes to be due and payable immediately or, solely in the case of an Event of Default relating to specified events of bankruptcy or insolvency with respect to the Company, such principal and accrued and unpaid interest
shall ipso facto become due and payable. As provided in the Indenture, the Holders of not less than a majority in principal amount of the outstanding Notes may waive (including waivers obtained in connection with a tender offer or exchange offer for
the Notes) any past Default with respect to the Notes and its consequences, subject to exceptions specified in the Indenture, and may rescind and annul any acceleration of the Notes and its consequences. Holders of the Notes may not enforce the
Indenture or the Notes except as provided in the Indenture. 
 11. TRUSTEE DEALINGS WITH COMPANY. The Trustee in its individual or
any other capacity may become the owner or pledgee of the Notes and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not the Trustee. 

12. NO RECOURSE AGAINST OTHERS. A director, officer, employee or stockholder, as such, of the Company will not have any liability for
any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for the issuance of the Notes. 
 13. AUTHENTICATION. This Note will not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent. 
 14. GOVERNING LAW. This Note shall be governed
by, and construed in accordance with, the internal laws of the State of New York applicable to agreements made and to be performed in such State, without regard to the conflict of laws provisions thereof. 

15. LEGAL DEFEASANCE, COVENANT DEFEASANCE AND DISCHARGE. As provided in the Indenture, the Company may, at its option, effect legal
defeasance and covenant defeasance with respect to the Notes and, insofar as concerns the Notes, satisfaction and discharge of the Indenture, all on the terms and subject to the conditions set forth in the Indenture. 

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

17. CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company
has caused CUSIP numbers to be printed on the Notes and the 

 
Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in
any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 18. CHANGE OF CONTROL
TRIGGERING EVENT. (a) If a Change of Control Triggering Event (as defined below) occurs with respect to the Notes, then, unless the Company gives notice of its election to redeem all of the Notes as provided in Section 5 of this Note
and such notice is given by the date specified in subsection (g) of this Section 18 and subject to the additional exceptions specified in subsection (g) of this Section 18, the Company will be required to make an offer (a
“Change of Control Offer”) to each Holder of Notes to repurchase (at such Holder’s option and on the terms described below in this Section 18) all or any part (in a principal amount of $2,000 or an integral multiple
of $1,000 in excess thereof, provided that any remaining principal amount of any Note repurchased in part is $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes at a purchase price in cash equal to 101% of the
principal amount of the Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the Change of Control Payment Date (as defined below) (the “Change of Control Payment”); provided that,
notwithstanding the foregoing, payments of interest on Notes that are due and payable on any Interest Payment Dates falling on or prior to such Change of Control Payment Date will be payable to the Holders of such Notes registered as such at the
close of business on the relevant Record Dates according to their terms and the terms and provisions of the Indenture. 
 (b) No later than 30 days
following the date on which a Change of Control Triggering Event shall have occurred with respect to the Notes or, at the Company’s option, prior to any Change of Control (as defined below) but after the public announcement of the transaction
that constitutes or may constitute the Change of Control, the Company will, unless the Company gives notice of its election to redeem all of the Notes as provided in Section 5 of this Note and such notice is given by the date specified in
subsection (g) of this Section 18 and subject to the additional exceptions specified in subsection (g) of this Section 18), mail or cause to be mailed (or, in the case of Notes evidenced by one or more Global Securities, give or
cause to be given in accordance with the Depositary’s procedures) a notice (the “Change of Control Purchase Notice”) to all Holders of Notes (with a copy to the Trustee), which notice shall govern the terms of such
Change of Control Offer. In such Change of Control Purchase Notice, the Company shall generally describe the transaction or transactions that constitute or may constitute the Change of Control and offer to repurchase the Notes on the date specified
in such notice, which date will be no earlier than 30 days and no later than 60 days after the date such notice is mailed (or given, as the case may be), except as may be required by applicable law or regulation (the “Change of
Control Payment Date”). The Change of Control Purchase Notice shall, if mailed (or given, as the case may be) prior to occurrence of the applicable Change of Control, state that the Change of Control Offer for the Notes and the
Company’s obligation to purchase the Notes pursuant to such Change of Control Offer are conditioned on such Change of Control and the related Change of Control Triggering Event with respect to the Notes occurring on or prior to the applicable
Change of Control Payment Date specified in such notice. 
 (c) Holders of Notes electing to have a Note or portion thereof repurchased pursuant to a Change
of Control Offer with respect to the Notes will be required to surrender the Note (which, in the case of Notes evidenced by one or more Global Securities, must be made in accordance with the procedures of the Depositary), together with a duly
completed and executed notice of Holder to elect repurchase (a “Repurchase Notice”) in the form attached to this Note (which may, in the case of Notes evidenced by one or more Global Securities, be given in accordance with
the Depositary’s procedures), to the Trustee (or to such other person as may be designated by the Company for such purpose) as provided in the applicable Change of Control Purchase Notice prior to the close of business on the third business day
immediately preceding the applicable Change of Control Payment Date, and to comply with other procedures and requirements set forth in such Change of Control Purchase Notice. As used in the preceding sentence, the term “business day” means
any day except a Saturday, Sunday or other day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close. 

(d) On any Change of Control Payment Date with respect to the Notes, the Company shall be required, to the extent lawful, to: 

(1) accept for payment all Notes or portions of Notes properly tendered pursuant to the applicable Change of Control Offer;

 (2) deposit with a Paying Agent for the Notes an amount equal to the aggregate
Change of Control Payment in respect of all Notes or portions of Notes properly tendered pursuant to the applicable Change of Control Offer; and 

(3) deliver or cause to be delivered (including by book-entry transfer, if applicable) the repurchased Notes or portions of
Notes to the Trustee, accompanied by an Officers’ Certificate stating the aggregate principal amount of Notes accepted by the Company for repurchase. 

(e) Interest on Notes and portions of Notes properly tendered for repurchase pursuant to a Change of Control Offer will cease to accrue on and after the
applicable Change of Control Payment Date, unless the Company shall have failed to accept such Notes and such portions of Notes for payment or failed to deposit the Change of Control Payment in respect thereof in accordance with the subsection
(d) of this Section 18. The Company shall promptly pay, or cause the Trustee or a Paying Agent for the Notes to promptly pay (by application of funds deposited by the Company as aforesaid), to each Holder of Notes (or portions thereof)
properly tendered and accepted for payment by the Company pursuant to such Change of Control Offer, the Change of Control Payment for such Notes. In the case of any Note repurchased in part, the Trustee will promptly authenticate and mail (or cause
to be delivered by book-entry transfer) to the Holder of such Note a new Note equal in principal amount to any unrepurchased portion of the Note repurchased in part. 

(f) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations to the extent those laws
and regulations are applicable in connection with the repurchase of Notes pursuant to a Change of Control Offer with respect to the Notes. To the extent that the provisions of any such securities laws or regulations conflict with the provisions of
Section 18 of this Note or any other Notes or the Indenture, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under Section 18 of this Note or any other Notes or
the Indenture by virtue thereof. 
 (g) Notwithstanding anything to the contrary in the Indenture or Section 18 of this Note or any other Notes, the
Company shall not be required to make a Change of Control Offer for the Notes or repurchase any Notes pursuant to any Change of Control Offer for the Notes if (a) a third party agrees to make such Change of Control 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 repurchases all Notes properly tendered by the Holders pursuant to such Change of Control Offer or (b) the Company gives notice of
redemption of all of the Notes no later than 30 days after the applicable Change of Control Triggering Event with respect to the Notes. In addition, notwithstanding anything to the contrary in the Indenture or Section 18 of this Note or any
other Notes, the Company shall not be required to, and the Company shall not, repurchase Notes pursuant to a Change of Control Offer with respect to the Notes if there has occurred and is continuing on the applicable Change of Control Payment Date
an Event of Default with respect to the Notes or the Securities of any other Series Outstanding under the Indenture. 
 (h) As used in this Section 18,
the following terms have the meanings set forth below: 
 “Change of Control” means the occurrence of any of the
following: 
 (a) 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) (other than the Company or any of its Subsidiaries) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of more than 50% of the Company’s outstanding Voting Stock (measured by voting power rather than number of shares), provided, however, that a person shall not be deemed the beneficial owner of, or to own
beneficially, (1) any securities tendered pursuant to a tender or exchange offer made by or on behalf of such person or any of such person’s Affiliates until such tendered securities are accepted for purchase or exchange thereunder or
(2) any securities if such beneficial ownership arises solely as a result of a revocable proxy delivered in response to a proxy or consent solicitation made pursuant to the applicable rules and regulations under the Exchange Act; 

 (b) the direct or indirect sale, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one transaction or a series of related transactions, of all or substantially all of the properties and assets of the Company and its Subsidiaries, taken as a whole, to any person (other than the
Company or any of its Subsidiaries); 
 (c) the first day on which a majority of the members of the Company’s Board of
Directors (which term, as used in this definition, means the Company’s full Board of Directors and not any committees thereof) are not Continuing Directors; 

(d) the adoption of a plan by the Company’s Board of Directors relating to the Company’s liquidation or dissolution;
or 
 (e) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with
or into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the outstanding Voting Stock of such other person is converted into or exchanged for cash, securities or other property,
other than any such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the outstanding Voting Stock (measured by voting
power rather than number of shares) of the surviving person, or any direct or indirect parent of the surviving person, immediately after giving effect to such transaction. 

Except as otherwise expressly provided in clause (a) of the first sentence of this definition, the term “person,” as used in this definition,
has the meaning set forth in the Indenture. 
 “Change of Control Triggering Event” means the occurrence of both a
Change of Control and a Rating Event with respect to the Notes. For purposes of clarity, it is understood and agreed that no Change of Control Triggering Event shall be deemed to have occurred with respect to the Notes in connection with any
particular Change of Control unless and until such Change of Control has actually occurred. 
 “Continuing
Directors” means, as of any date of determination, any member of the Company’s Board of Directors (which term, as used in this definition, means the Company’s full Board of Directors and not any committees thereof) who
(a) was a member of the Company’s Board of Directors on the date the Notes were first issued or (b) was nominated for election, elected or appointed to the Company’s Board of Directors with the approval of or by a majority of the
Continuing Directors who were members of the Company’s Board of Directors at the time of such nomination, election or appointment (either by vote or written consent or by approval of the Company’s proxy statement in which such member was
named as a nominee for election as a director without written objection to such nomination). 
 “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and a rating equal to or higher than the equivalent investment grade credit rating from any replacement
Rating Agency or Rating Agencies selected by the Company. 
 “Moody’s” means Moody’s Investors Service,
Inc. 
 “Rating Agencies” means (a) each of Moody’s and S&P; and (b) if Moody’s or S&P
or, if applicable, any replacement Rating Agency ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating
organization” (as defined in Section 3(a)(62) of the Exchange Act) selected by the Company as a replacement for Moody’s, S&P or any such replacement Rating Agency, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by both of the Rating Agencies and as a result the Notes are
rated below an Investment Grade Rating by both of the Rating Agencies, in each case on any day during the period (the “Measurement Period”) commencing on the date of the first public announcement of an arrangement that results in a Change
of Control and ending on the 60th day following the first public announcement of the occurrence of such Change of Control (which Measurement Period shall be extended (subject to the proviso below)

 
if on such 60th day (x) the rating of the Notes is under publicly announced consideration for a possible downgrade by either Rating
Agency and (y) the rating on the Notes by such Rating Agency is an Investment Grade Rating, such extension to continue until the day on which each such Rating Agency considering such possible downgrade either rates the Notes below an Investment
Grade Rating or publicly announces that it is no longer considering the Notes for a possible downgrade; provided that, notwithstanding the foregoing, no such extension will occur if on such 60th
day, and any such extension will terminate if at any time after such 60th day, the Notes have an Investment Grade Rating from at least one Rating Agency and are not under publicly announced
consideration for a possible downgrade by such Rating Agency). 
 “S&P” means Standard & Poor’s
Rating Group, Inc. 
 “Voting Stock” means, with respect to any person, any Capital Stock of such person that is
normally entitled (without regard to the occurrence of any contingency) to vote generally in the election of directors, managers, trustees or similar persons, as applicable, of such person. 

“Wholly-Owned Subsidiary” means, with respect to any specified person, any other person all of whose outstanding
Capital Stock (other than directors’ qualifying shares or similar equity interests) is at the time owned, directly or indirectly, by such specified person and/or one or more other Wholly-Owned Subsidiaries of such specified person. 

As used in this Section 18, all references to rule and regulations under the Exchange Act shall include any successor provisions thereto.

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	 	  

		 	(Insert assignee’s legal name)

  

			
	  

	(Insert assignee’s soc. sec. tax I.D. no.)
	
	  

	
	  

	
	  

	
	  

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

  

			
	and irrevocably appoint	 	  

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

 

					
	Date:	 	  
	 	

  

							
				
		 		 	Your Signature:	 	  

		 		 		 	(sign exactly as your name(s) appear(s) on the face of this Note)

							
				
		 		 	Tax Identification No:	 	  

				
		 		 	Signature Guarantee:	 	  

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar for
this Note, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 Notice of Holder to Elect Repurchase 

eBay Inc. 
 3.800% Notes due 2022
(the “Notes”) 
 To: eBay Inc. 

Wells Fargo Bank, National Association, as Trustee 

The undersigned registered holder of this Note hereby acknowledges receipt of a Change of Control Purchase Notice from eBay Inc. (the
“Company”) and hereby surrenders this Note (or the portion of the principal amount of this Note set forth below) for repurchase by the Company on the terms and subject to the conditions set forth in Section 18 of this Note and
in the Change of Control Purchase Notice. Capitalized terms used herein but not defined shall have meanings set forth in this Note. 
 If you
elect to have only a part of this Note repurchased by the Company, indicate the principal amount you elect to have repurchased in the following space; if you do not indicate a principal amount in the following space it means that you elect to have
this entire Note repurchased by the Company: 
  

					
	Principal amount surrendered for repurchase $	 	  
	 	
		 	(must be in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof and any portion of this Note not surrendered for repurchase must be in a principal amount of $2,000 or an integral multiple of $1,000 in
excess thereof)	 	

 If the Note you are surrendering for repurchase is in physical form, insert the certificate number of the Note
in the following space: 
  

							
		 	Certificate No.	 	  
	 	

							
				
		 	Date:	 	  
	 	

  

							
				
		 		 	Your Signature:	 	  

		 		 		 	(sign exactly as your name(s) appear(s) on the face of this Note)

							
				
		 		 	Tax Identification No:	 	  

				
		 		 	Signature Guarantee:	 	  

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar for
this Note, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.Form of Note for the Company's 4.600% Subordinated Notes due March 9, 2026

 Exhibit 4.01 

This Subordinated Note is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the
Depository named below or a nominee of the Depository. This Subordinated Note is not exchangeable for Subordinated Notes registered in the name of a Person other than the Depository or its nominee except in the limited circumstances described herein
and in the Indenture, and no transfer of this Subordinated Note (other than a transfer of this Subordinated Note as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of
the Depository) may be registered except in the limited circumstances described herein. 
 Unless this certificate is presented by an
authorized representative of The Depository Trust Company, a New York corporation (the “Depository”), to Citigroup Inc. or its agent for registration of transfer, exchange, or payment, and any certificate issued in respect thereof is
registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of the Depository (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized
representative of the Depository), 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. 

The Subordinated Notes are not savings accounts or deposits but are unsecured obligations of Citigroup Inc. The Subordinated Notes are not
insured by the Federal Deposit Insurance Corporation or by any other federal agency or instrumentality. 
 CITIGROUP INC. 

4.600% Subordinated Notes due March 9, 2026 
  

			
	REGISTERED	  	REGISTERED

 CUSIP: 172967KJ9     

ISIN: US172967KJ96     

Common Code: 137720116     
  

			
	No. [    ]	  	$500,000,000    

 CITIGROUP INC., a Delaware corporation (the “Company”, which term includes any successor Person
under the Indenture), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of $500,000,000 on March 9, 2026 and to pay interest thereon from and including March 9, 2016 or from the
most recent Interest Payment Date (as defined herein) to which interest has been paid or duly provided for, semi-annually, on March 9 and September 9 of each year, commencing September 9, 2016, at the rate of 4.600% per annum,
until the principal hereof is paid or made available for payment (each such payment date, an “Interest Payment Date”). The Subordinated Notes may be redeemed in whole, but not in part, at any time if changes involving United States
taxation occur which could require Citigroup to pay additional amounts. 

 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid pursuant to the instructions of the Person in whose name this Subordinated Note is registered at the close of business on the Record Date for such interest, which shall be the Business Day immediately
preceding such Interest Payment Date. 
 Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to
the holder on such Record Date and may either be paid pursuant to the instructions of the Person in whose name this Subordinated Note is registered at the close of business on a subsequent Record Date, such subsequent Record Date to be not less than
five days prior to the date of payment of such defaulted interest, notice whereof shall be given to holders of Subordinated Notes of this series not less than 15 days prior to such subsequent 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 Subordinated Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Interest hereon will be calculated on the basis of a 360-day year comprised of twelve 30-day months or, in the case of an incomplete month,
the number of days elapsed. In the event the Subordinated Notes do not continue to remain in book-entry only form, Citigroup shall have the right to select record dates, which shall be more than 14 days but less than 60 days prior to an Interest
Payment Date. 
 If an Interest Payment Date falls on a day that is not a Business Day, such Interest Payment Date will be the next
succeeding Business Day. If the Maturity of the Subordinated Notes falls on a day that is not a Business Day, the payment due on Maturity will be postponed to the next succeeding Business Day, and no further interest will accrue in respect of such
postponement. If a date for payment of interest or principal on the Subordinated Notes falls on a day that is not a business day in the place of payment, such payment will be made on the next succeeding business day in such place of payment as if
made on the date the payment was due. No interest will accrue on any amounts payable for the period from and after the due date for payment of such principal or interest. 

For these purposes, “Business Day” means any day on which commercial banks settle payments and are open for general business in The
City of New York. 
 Payment of the principal of and interest on this Subordinated Note will be made at the office or agency of the Trustee
maintained for that purpose in The City of New York. 
 Reference is hereby made to the further provisions of this Subordinated Note set
forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

  
 2 

 Unless the certificate of authentication hereon has been executed by the Trustee or by an
authenticating agent on behalf of the Trustee by manual signature, this Subordinated Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated: March 9, 2016 
  

			
	CITIGROUP INC.
		
	By: 	 	  

	Title: Deputy Treasurer

  

			
	ATTEST:
		
	By: 	 	  

	Title: Assistant Secretary

  
 4 

 This is one of the Notes of the series issued under the within-mentioned Indenture. 

Dated: March 9, 2016 
  

			
	THE BANK OF NEW YORK MELLON,
	as Trustee
		
	By:	 	  

		 	Name:
		 	Title:
	
	-or-
	
	 CITIBANK, N.A.,
 as Authenticating
Agent

		
	By: 	 	  

		 	Name:
		 	Title:

  
 5 

 This Subordinated Note is one of a duly authorized issue of Securities of the Company (the
“Subordinated Notes”), issued and to be issued in one or more series under the Indenture, dated as of April 12, 2001, as supplemented August 2, 2004 (as so supplemented, the “Indenture”), between the Company and The
Bank of New York Mellon (successor to J.P. Morgan Trust Company, N.A. and Bank One Trust Company, N.A.), as Trustee (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 Subordinated Notes and of the terms upon which the
Subordinated Notes are, and are to be, authenticated and delivered. This Subordinated Note is one of the series designated on the face hereof, initially limited in aggregate principal to $1,500,000,000. 

The Company covenants and agrees that the indebtedness evidenced by the Subordinated Notes is subordinate and junior in right of payment to
all Senior Indebtedness (as defined in the Indenture) to the extent provided in the Indenture, and each holder of Subordinated Notes, by his or her acceptance thereof, likewise covenants and agrees to the subordination provided in the Indenture
(including Article Fourteen thereof) and shall be bound by the provisions thereof. 
 In the event that the Company shall default in the
payment of any principal of (or premium, if any) or interest on any Senior Indebtedness when the same becomes due and payable after any applicable grace period, whether at maturity or at a date fixed for prepayment or by declaration or otherwise,
then, unless and until such default shall have been cured or waived or shall have ceased to exist, no direct or indirect payment (in cash, property, securities, by set-off or otherwise) shall be made or agreed to be made on account of the principal
of, or premium, if any, or interest on the indebtedness evidenced by the Subordinated Notes, or in respect of any redemption, retirement or other acquisition of any of the Subordinated Notes, except that holders of Subordinated Notes may receive and
retain (x) securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate, at least to the extent provided in these subordination provisions with respect to the
indebtedness evidenced by the Subordinated Notes, to the payment of all Senior Indebtedness at the time outstanding and to any securities issued in respect thereof under any such plan of reorganization or readjustment and (y) payments made from
a defeasance trust created pursuant to Article Eleven of the Indenture. 
 In the event of: 

(i) any insolvency, bankruptcy, receivership, liquidation, reorganization, readjustment, composition or other similar proceeding relating to
the Company, its creditors or its property, 
 (ii) any proceeding for liquidation, dissolution or other winding up of the Company,
voluntary or involuntary, whether or not involving insolvency or bankruptcy proceedings, 

  
 6 

 (iii) any assignment by the Company for the benefit of creditors, or 

(iv) any other marshalling of the assets of the Company, 

all Senior Indebtedness (including any interest thereon accruing after the commencement of any such proceedings) shall first be paid in full before any
payment or distribution, whether in cash, securities or other property, shall be made to any Holder of any of the Subordinated Notes on account thereof (except as provided in the next sentence). Any payment or distribution, whether in cash,
securities or other property (other than (x) securities of the Company or any other corporation provided for by a plan of reorganization or readjustment the payment of which is subordinate, at least to the extent provided in these subordination
provisions with respect to the indebtedness evidenced by the Subordinated Notes, to the payment of all Senior Indebtedness at the time outstanding and to any securities issued in respect thereof under any such plan of reorganization or readjustment
and (y) payments made from a defeasance trust created pursuant to Article Eleven of the Indenture), which would otherwise (but for these subordination provisions) be payable or deliverable in respect of the Subordinated Notes shall be paid or
delivered directly to the holders of Senior Indebtedness in accordance with the priorities then existing among such holders until all Senior Indebtedness (including any interest thereon accruing after the commencement of any such proceedings) shall
have been paid in full. 
 If an event of default (as defined in the Indenture) with respect to Subordinated Notes of this series shall
occur and be continuing, the principal of the Subordinated Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Subordinated Note upon compliance by the
Company with certain conditions set forth in Article Eleven thereof, which provisions apply to this Subordinated Note. 
 The Indenture
contains provisions permitting the Company and the Trustee, without the consent of the holders of Securities, to establish, among other things, the form and terms of any series of Securities issuable thereunder by one or more supplemental
indentures, and, with the consent of the holders of not less than a majority of the principal amount of Securities at the time Outstanding which are affected thereby, to modify the Indenture or any supplemental indenture or the rights of the holders
of Securities of such series to be affected, provided that no such modification shall, without the consent of the holder of each Outstanding Security so affected, (x) change the Stated Maturity of the principal of, or any installment of
principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium thereon, or change any place of payment where, or the coin or currency in which any Security or any premium or interest
thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption on or after the Redemption Date) or modify the provisions of the Indenture with
respect to the subordination of the Securities in a manner adverse to the Securityholders or (y) reduce the aforesaid percentage in principal amount of the Outstanding Securities of any series, the consent of the holders of which is required
for any supplemental indenture, or the consent of whose holders is required for any waiver provided for in the Indenture, or (z) modify certain other provisions of the Indenture, as set forth in Section 13.02 of the Indenture. 

  
 7 

 No reference herein to the Indenture and no provision of this Subordinated 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 interest on this Subordinated Note at the times, place and rate, and in the coin or currency, herein prescribed. 

This Subordinated Note is a Global Security registered in the name of a nominee of the Depository. This Subordinated Note is exchangeable for
Subordinated Notes registered in the name of a person other than the Depository or its nominee only in the limited circumstances hereinafter described. Unless and until it is exchanged in whole or in part for definitive Subordinated Notes in
certificated form, this Subordinated Note may not be transferred except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository. 

The Subordinated Notes represented by this Global Security are exchangeable for definitive Subordinated Notes in certificated form of like
tenor as such Subordinated Notes in denominations of $1,000 and whole multiples of $1,000 in excess thereof only if (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for the Subordinated Notes or
(ii) the Depository ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, or (iii) the Company in its sole discretion decides to allow the Subordinated Notes to be exchanged for definitive
Subordinated Notes in registered form. Any Subordinated Notes that are exchangeable pursuant to the preceding sentence are exchangeable for certificated Subordinated Notes issuable in authorized denominations and registered in such names as the
Depository shall direct. As provided in the Indenture and subject to certain limitations therein set forth, the transfer of definitive Subordinated Notes in certificated form is registrable in the register maintained by the Company in The City of
New York for such purpose, upon surrender of the definitive Subordinated Note for registration of transfer at the office or agency of the registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Company and the registrar duly executed by, the holder thereof or his attorney duly authorized in writing, and thereupon one or more new Subordinated Notes of this series and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees. Subject to the foregoing, this Subordinated Note is not exchangeable, except for a Global Security or Global Securities of this issue of the same principal amount to be
registered in the name of the Depository or its nominee. 
 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 Subordinated 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 Subordinated Note is registered as the owner hereof for all purposes, whether or not this Subordinated Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by
notice to the contrary. 

  
 8 

 The Company will pay additional amounts (“Additional Amounts”) to the beneficial owner
of any Subordinated Note that is a non-United States person in order to ensure that every net payment on such Subordinated Note will not be less, due to payment of U.S. withholding tax, than the amount then
due and payable. For this purpose, a “net payment” on a Subordinated Note means a payment by the Company or a paying agent, including payment of principal and interest, after deduction for any present or future tax, assessment or other
governmental charge of the United States. These Additional Amounts will constitute additional interest on the Subordinated Note. 
 The
Company will not be required to pay Additional Amounts, however, in any of the circumstances described in items (1) through (13) below. 
  

	 	(1)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner:

  

	 	(a)	having a relationship with the United States as a citizen, resident or otherwise; 

  

	 	(b)	having had such a relationship in the past or 

  

	 	(c)	being considered as having had such a relationship. 

  

	 	(2)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner:

  

	 	(a)	being treated as present in or engaged in a trade or business in the United States; 

  

	 	(b)	being treated as having been present in or engaged in a trade or business in the United States in the past or 

  

	 	(c)	having or having had a permanent establishment in the United States. 

  

	 	(3)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld in whole or in part by reason of the
beneficial owner being or having been any of the following (as such terms are defined in the Internal Revenue Code of 1986, as amended): 

  

	 	(a)	personal holding company; 

  

	 	(b)	foreign personal holding company; 

  

	 	(c)	foreign private foundation or other foreign tax-exempt organization; 

  

	 	(d)	passive foreign investment company; 

  

	 	(e)	controlled foreign corporation or 

  
 9 

	 	(f)	corporation which has accumulated earnings to avoid United States federal income tax. 

  

	 	(4)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the beneficial owner
owning or having owned, actually or constructively, 10 percent or more of the total combined voting power of all classes of stock of the Company entitled to vote or by reason of the beneficial owner being a bank that has invested in a Subordinated
Note as an extension of credit in the ordinary course of its trade or business. 

 For purposes of items (1) through (4) above,
“beneficial owner” means a fiduciary, settlor, beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership, limited liability company, corporation or other entity, or a person holding a power over an
estate or trust administered by a fiduciary holder. 
  

	 	(5)	Additional Amounts will not be payable to any beneficial owner of a Subordinated Note that is a: 

  

	 	(a)	fiduciary; 

  

	 	(b)	partnership; 

  

	 	(c)	limited liability company or 

  

	 	(d)	other fiscally transparent entity 

 or that is not the sole beneficial owner of the Subordinated
Note, or any portion of the Subordinated Note. However, this exception to the obligation to pay Additional Amounts will only apply to the extent that a beneficiary or settlor in relation to the fiduciary, or a beneficial owner or member of the
partnership, limited liability company or other fiscally transparent entity, would not have been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or
distributive share of the payment. 
  

	 	(6)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld solely by reason of the failure of the
beneficial owner or any other person to comply with applicable certification, identification, documentation or other information reporting requirements. This exception to the obligation to pay Additional Amounts will only apply if compliance with
such reporting requirements is required by statute or regulation of the United States or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental charge.

  

	 	(7)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is collected or imposed by any method other than by withholding
from a payment on a Subordinated Note by the Company or a paying agent. 

  
 10 

	 	(8)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by reason of a change in law, regulation,
or administrative or judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later. 

 

	 	(9)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is imposed or withheld by reason of the presentation by the
beneficial owner of a Subordinated Note for payment more than 30 days after the date on which such payment becomes due or is duly provided for, whichever occurs later. 

 

	 	(10)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any: 

  

	 	(a)	estate tax; 

  

	 	(b)	inheritance tax; 

  

	 	(c)	gift tax; 

  

	 	(d)	sales tax; 

  

	 	(e)	excise tax; 

  

	 	(f)	transfer tax; 

  

	 	(g)	wealth tax; 

  

	 	(h)	personal property tax or 

  

	 	(i)	any similar tax, assessment, withholding, deduction or other governmental charge. 

  

	 	(11)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment, or other governmental charge required to be withheld by any paying agent from a payment of
principal or interest on a Subordinated Note if such payment can be made without such withholding by any other paying agent. 

  

	 	(12)	Additional amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any tax, assessment or other governmental charge that is required to be made pursuant to any European Union directive
on the taxation of savings income or any law implementing or complying with, or introduced to conform to, any such directive. 

  

	 	(13)	 Additional amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any withholding, deduction, tax, duty assessment
or other governmental charge that would not have been imposed but for a failure by the holder or beneficial owner of a Subordinated Note (or any financial institution 

  
 11 

	 	
through which the holder or beneficial owner holds the Subordinated Note or through which payment on the Subordinated Note is made) to take any action (including entering into an agreement with
the Internal Revenue Service, or a governmental authority of another jurisdiction if the holder is entitled to the benefits of an intergovernmental agreement between that jurisdiction and the United States) or to comply with any applicable
certification, documentation, information or other reporting requirement or agreement concerning accounts maintained by the holder or beneficial owner (or any such financial institution), or concerning ownership of the holder or beneficial owner, or
any substantially similar requirement or agreement. 

  

	 	(14)	Additional Amounts will not be payable if a payment on a Subordinated Note is reduced as a result of any combination of items (1) through (14) above. 

Except as specifically provided herein, the Company will not be required to make any payment of any tax, assessment or other governmental
charge imposed by any government or a political subdivision or taxing authority of such government. 
 As used in this Subordinated Note,
“United States person” means: 
  

	 	(a)	any individual who is a citizen or resident of the United States; 

  

	 	(b)	any corporation, partnership or other entity created or organized in or under the laws of the United States; 

  

	 	(c)	any estate if the income of such estate falls within the federal income tax jurisdiction of the United States regardless of the source of such income and 

 

	 	(d)	any trust if a United States court is able to exercise primary supervision over its administration and one or more United States persons have the authority to control all of the substantial decisions of the trust.

 Additionally, “non-United States person” means a person who is not a
United States person, and “United States” means the states of the United States of America and the District of Columbia, but excluding its territories and its possessions. 

Except as provided below, the Subordinated Notes may not be redeemed prior to maturity. 

 

	 	(1)	The Company may, at its option, redeem the Subordinated Notes if: 

  

	 	(a)	the Company becomes or will become obligated to pay Additional Amounts as described above; 

  

	 	(b)	the obligation to pay Additional Amounts arises as a result of any change in the laws, regulations or rulings of the United States, or an official position regarding the application or interpretation of such laws,
regulations or rulings, which change is announced or becomes effective on or after March 1, 2016 and 

  
 12 

	 	(c)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to it, other than substituting the obligor under the
Subordinated Notes or taking any action that would entail a material cost to the Company. 

  

	 	(2)	The Company may also redeem the Subordinated Notes, at its option, if: 

  

	 	(a)	any act is taken by a taxing authority of the United States on or after March 1, 2016, whether or not such act is taken in relation to the Company or any affiliate, that results in a substantial probability that
the Company will or may be required to pay Additional Amounts as described above; 

  

	 	(b)	the Company determines, in its business judgment, that the obligation to pay such Additional Amounts cannot be avoided by the use of reasonable measures available to it, other than substituting the obligor under the
Subordinated Notes or taking any action that would entail a material cost to the Company and 

  

	 	(c)	the Company receives an opinion of independent counsel to the effect that an act taken by a taxing authority of the United States results in a substantial probability that the Company will or may be required to pay the
Additional Amounts described above, and delivers to the Trustee a certificate, signed by a duly authorized officer, stating that based on such opinion the Company is entitled to redeem the Subordinated Notes pursuant to their terms.

 Any redemption of the Subordinated Notes as set forth in clauses (1) or (2) above shall be in whole, and not in part, and will be
made at a redemption price equal to 100% of the principal amount of the Subordinated Notes Outstanding plus accrued interest thereon to the date of redemption. Holders shall be given not less than 30 days nor more than 60 days’ prior notice by
the Trustee of the date fixed for such redemption. 
 All terms used in this Subordinated Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture. The Subordinated Notes are governed by the laws of the State of New York. 

  
 13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00255-of-00352.parquet"}]]