Document:

EX-4.25

 Exhibit 4.25 

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

ANY PURCHASER, HOLDER OR SUBSEQUENT TRANSFEREE OF THIS NOTE OR ANY INTEREST HEREIN REPRESENTS BY ITS PURCHASE AND HOLDING OF THIS NOTE THAT IT EITHER
(1) IS NOT, AND IS NOT PURCHASING THIS NOTE ON BEHALF OF OR WITH THE ASSETS OF, A PENSION, PROFIT-SHARING OR OTHER EMPLOYEE BENEFIT PLAN SUBJECT TO THE U.S. EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), ANY
INDIVIDUAL RETIREMENT ACCOUNT, KEOGH PLAN OR ANY OTHER PLAN SUBJECT TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), ANY ENTITY WHOSE UNDERLYING ASSETS ARE CONSIDERED TO INCLUDE “PLAN ASSETS”
WITHIN THE MEANING OF ERISA BY REASON OF THE INVESTMENTS BY SUCH PLANS OR ACCOUNTS THEREIN, OR ANY EMPLOYEE BENEFIT PLAN THAT IS A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA), A CHURCH PLAN (AS DEFINED IN SECTION 3(33) OF ERISA) OR A NON-U.S. PLAN (AS DESCRIBED IN SECTION 4(B)(4) OF ERISA) THAT IS NOT SUBJECT TO THE REQUIREMENTS OF ERISA OR THE CODE BUT IS SUBJECT TO SIMILAR PROVISIONS UNDER APPLICABLE FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS (“SIMILAR LAWS”) OR (2) THE PURCHASE AND HOLDING OF THIS NOTE WILL NOT CONSTITUTE A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406
OF ERISA, SECTION 4975 OF THE CODE OR UNDER ANY APPLICABLE SIMILAR LAWS. 
 IF APPLICABLE, THE “TOTAL AMOUNT OF OID”, “ORIGINAL YIELD TO
MATURITY” AND “INITIAL SHORT ACCRUAL PERIOD OID” (COMPUTED UNDER THE EXACT METHOD) SET FORTH BELOW HAVE BEEN COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT RULES. 

 

			
	CUSIP:	  	ISIN:
	REGISTERED	  	REGISTERED                    
	No. FXR-	  	$            

 THE BANK OF NEW YORK MELLON CORPORATION 

[SENIOR MEDIUM-TERM NOTE SERIES J] 

[SENIOR SUBORDINATED MEDIUM-TERM NOTE SERIES K] 

(Fixed Rate) 
  

					
	ORIGINAL ISSUE DATE:	  	INTEREST RATE:	  	STATED MATURITY DATE:
			
	 [REDEMPTION COMMENCEMENT
 DATE][OPTIONAL
REDEMPTION DATE]:
	  	 [INITIAL] REDEMPTION
 PERCENTAGE:
	  	 ANNUAL REDEMPTION
 PERCENTAGE
REDUCTION:

			
	 HOLDER’S OPTIONAL
 REPAYMENT
DATE(S):
	  	TOTAL AMOUNT OF OID:	  	 ORIGINAL YIELD TO
 MATURITY:

			
	 INITIAL SHORT ACCRUAL
 PERIOD OID:
	  	ISSUE PRICE:	  	INTEREST PAYMENT DATES:

 CALCULATION AGENT: 

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

The Bank of New York Mellon Corporation, a Delaware corporation (the “Company”, which term includes any successor corporation under
the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of
                                         on the
Stated Maturity Date specified above (except to the extent redeemed or repaid prior to the Stated Maturity Date), and to pay interest thereon at a rate per annum equal to the Interest Rate specified above, until the principal hereof is paid or duly
made available for payment. The Company will pay interest on the      day of                      and
                     (each an “Interest Payment Date”) in each year commencing on the first Interest Payment Date next succeeding the
Original Issue Date specified above (which for avoidance of doubt shall be                     ), unless the Original Issue Date occurs between the
Regular Record Date (as defined below) with respect to the first Interest Payment Date and the next succeeding Interest Payment Date or on an Interest Payment Date, in which case commencing on the second Interest Payment Date succeeding the Original
Issue Date, to the registered Holder of this Note on the Regular Record Date with respect to such Interest Payment Date, and on the Stated Maturity Date (or [any Redemption Date as defined below][the Optional Redemption Date] or any Holder’s
Optional Repayment Date[, in each case] with respect to which such option has been exercised, each such Stated Maturity Date, [Redemption Date][Optional Redemption Date] and Holder’s Optional Repayment Date being herein referred to as a
“Maturity Date” with respect to the principal repayable on such date). Interest on this Note will accrue 

  
 -2- 

 
from the most recent Interest Payment Date to which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from the Original Issue Date specified above
until the principal hereof has been paid or duly made available for payment. If the Maturity Date or an Interest Payment Date falls on a day which is not a Business Day, as defined below, principal, premium, if any, or interest payable with respect
to such Maturity Date or Interest Payment Date will be paid on the next succeeding Business Day. If any payment on the Maturity Date or an Interest Payment Date is made on the next succeeding Business Day in accordance with the immediately preceding
sentence, no interest on such payment shall accrue for the period from and after such Maturity Date or Interest Payment Date, as the case may be. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will,
subject to certain exceptions, be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the fifteenth calendar day (whether
or not a Business Day) next preceding such Interest Payment Date; provided, however, that interest payable at the Maturity Date will be payable to the Person to whom the principal hereof shall be payable. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Company, notice whereof shall be given to the Holder of this Note and the Trustee not less than 10 days prior to such Special Record Date, or may be paid at any
time in any other lawful manner, all as more fully provided in the Indenture. 
 As used herein, “Business Day” means any day
other than a Saturday, Sunday, legal holiday or other day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close. 

Payment of the principal of, premium, if any, on and interest due on this Note will be made in immediately available funds at the office or
agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, [in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts][If
applicable, insert description of currency, currencies, composite currency, composite currencies or currency units in which the principal of or any premium or interest is payable]; provided, however, that payment of interest on any
Interest Payment Date other than the Maturity Date may be made at the option of the Company (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register and (ii) by wire transfer
in immediately available funds at such place and to such account as may be designated by the Person entitled thereto as specified in the Security Register in writing not less than 10 days prior to the date of the interest payment; and
provided, further that payment may be made pursuant to the Applicable Procedures. A Holder of not less than $10,000,000 aggregate principal amount of the Notes having the same Interest Payment Dates may by written notice to the Paying
and Authenticating Agent and Security Registrar (referred to below) at its principal corporate trust office in The City of New York (or at such other address as the Company shall give notice in writing), on or before the Regular Record Date
preceding an Interest Payment Date, arrange to have the interest payable on all Notes held by such Holder on such Interest Payment Date, and all subsequent Interest Payment Dates until written notice to the contrary is given to the Paying and
Authenticating Agent and Security Registrar, made by wire transfer of immediately available funds to a designated account maintained at a bank in The City of New York (or other bank consented to by the Company) as the Holder of such Notes shall have
designated; provided that such bank has appropriate facilities therefor. 
 [Insert if this Note is a Senior Subordinated Medium-Term
Note – This Note is one of a duly authorized series of securities of the Company (hereinafter called the “Securities”) issued and to be issued in one or more series under the Senior Subordinated Debt Indenture dated as of
February 9, 2016, 

  
 -3- 

 
as supplemented by the First Supplemental Senior Subordinated Debt Indenture dated as of January 30, 2017 (herein called the “Indenture”), between the Company and Wilmington Trust,
National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Senior Subordinated Medium-Term Notes Series K (the “Notes”) and of the terms upon which the Notes are, and are to be, authenticated and
delivered. The Bank of New York Mellon, acting through its principal corporate trust office is the initial Paying Agent for the payment of interest and principal of the Notes; The Bank of New York Mellon acting through its principal corporate trust
office is the Authenticating Agent for the Notes; and The Bank of New York Mellon acting through its principal corporate trust office is the Security Registrar for the Notes (the “Paying and Authenticating Agent and Security Registrar”).
The Notes may bear different Original Issue Dates, mature at different times, bear interest at different rates and vary in such other ways as are provided in the Indenture.] 

[Insert if this Note is a Senior Medium-Term Note – This Note is one of a duly authorized series of securities of the Company
(hereinafter called the “Securities”) issued and to be issued in one or more series under the Senior Debt Indenture dated as of February 9, 2016, as supplemented by the First Supplemental Senior Debt Indenture dated as of
January 30, 2017 (herein called the “Indenture”), between the Company and Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Senior Medium-Term Notes Series J (the
“Notes”) and of the terms upon which the Notes are, and are to be, authenticated and delivered. The Bank of New York Mellon, acting through its principal corporate trust office is the initial Paying Agent for the payment of interest and
principal of the Notes; The Bank of New York Mellon acting through its principal corporate trust office is the Authenticating Agent for the Notes; and The Bank of New York Mellon acting through its principal corporate trust office is the Security
Registrar for the Notes (the “Paying and Authenticating Agent and Security Registrar”). The Notes may bear different Original Issue Dates, mature at different times, bear interest at different rates and vary in such other ways as are
provided in the Indenture.] 
 This Note is not subject to any sinking fund. 

[Insert if this Note is a Senior Subordinated Medium-Term Note – The Indenture contains provisions for defeasance at any time of
(a) the entire indebtedness evidenced by this Note and/or (b) certain restrictive covenants and Defaults with respect to this Note, in each case upon compliance by the Company with certain conditions set forth in the Indenture. These
provisions [shall not][shall] apply to this Note.] 
 [Insert if this Note is a Senior Medium-Term Note – The Indenture contains
provisions for defeasance at any time of (a) the entire indebtedness evidenced by this Note and/or (b) certain restrictive covenants, Events of Default and Covenant Breaches with respect to this Note, in each case upon compliance by the
Company with certain conditions set forth in the Indenture. At the election of the Company, these provisions [shall][shall not] apply to this Note.] 

[Insert if this Note is a Senior Subordinated Medium-Term Note, if applicable – Describe any addition to, elimination of or other change
in the Events of Default or Defaults that apply to the Note, and any change in the acceleration provisions in Section 502 of the Indenture.] 

  
 -4- 

 [Insert if this Note is a Senior Medium-Term Note, if applicable – Describe any
addition to, elimination of or other change in the Events of Default that apply to the Note, and any change in the right of the Trustee or the requisite Holders of the Notes to declare the principal amount thereof due and payable under
Section 502 of the Indenture.] 
 [If this Note is a Senior Subordinated Medium-Term Note, if applicable – Describe any addition
to, elimination of or other change in the covenants that apply to this Note.] 
 [If this Note is a Senior Medium-Term Note, if applicable
– Describe any addition to, elimination of or other change in the covenants or the definition of “Covenant Breach” that apply to this Note.] 

This Note may be subject to repayment at the option of the Holder on any Holder’s Optional Repayment Date(s), if any, indicated above. If
no Holder’s Optional Repayment Dates are set forth above, this Note may not be so repaid at the option of the Holder hereof prior to the Stated Maturity Date. On any Holder’s Optional Repayment Date, this Note shall be repayable in whole
or in part in increments of $[1,000][Insert other minimum denomination] (provided that any remaining principal hereof shall be at least $[1,000][Insert other minimum denomination]) at the option of the Holder hereof at a repayment price equal to
100% of the principal amount to be repaid, together with interest thereon payable to the date of repayment. For this Note to be repaid in whole or in part at the option of the Holder hereof, this Note must be received, with the form entitled
“Option to Elect Repayment” below duly completed, by the Paying and Authenticating Agent and Security Registrar at the principal corporate trust office of The Bank of New York Mellon in The City of New York, or such other address which the
Company shall from time to time notify the Holder of this Note, not less than 10 nor more than 60 days prior to the Holder’s Optional Repayment Date. Exercise of such repayment option by the Holder hereof shall be irrevocable. 

[Insert, as applicable, if this Note is not redeemable or is redeemable on one or more dates at the option of the Company – This Note may
be redeemed at the option of the Company on any date on and after the Redemption Commencement Date, if any, specified above (the “Redemption Date”). If no Redemption Commencement Date is set forth above, this Note may not be redeemed at
the option of the Company prior to the Stated Maturity Date. On and after the Redemption Commencement Date, if any, this Note may be redeemed at any time in whole [but not in part][or from time to time in part in increments of $[1,000][Insert other
minimum denomination] (provided that any remaining principal hereof shall be at least $[1,000][Insert other minimum denomination])] at the option of the Company at the applicable Redemption Price (as defined below) together with interest thereon
payable to the Redemption Date, on notice given to the Holder not less than [5 nor more than 30][10 nor more than 60] days prior to the Redemption Date. [In the event of redemption of this Note in part only, a new Note for the unredeemed portion
hereof shall be issued in the name of the Holder hereof upon the surrender hereof.]] 
 [Insert, as applicable, if this Note is redeemable
at the option of the Company on only a single date – This Note may be redeemed at the option of the Company on the Optional Redemption Date specified above. On the Optional Redemption Date this Note may be redeemed in whole [but not in part][or
in part in increments of $[1,000][Insert other minimum denomination] (provided that any remaining principal hereof shall be at least $[1,000][Insert other minimum denomination])] at the option of the Company at the applicable Redemption Price (as
defined below) together with interest thereon payable to the Optional Redemption Date, on notice given to the Holder not less than [5 nor more than 30][10 nor more than 60] days prior to the Optional Redemption Date. [In the event of redemption of
this Note in part only, a new Note for the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the surrender hereof.]] 

  
 -5- 

 [Insert if this Note is a Senior Subordinated Medium-Term Note — Notwithstanding the
foregoing, the Company may not redeem this Note without having received the prior approval of the “appropriate federal banking agency” with respect to the Company, as defined in Section 3(q) of the Federal Deposit Insurance Act (12
U.S.C. § 1813(q)), or any successor provision, if then required under capital regulations applicable to the Company.] 
 Notices to the
Holder of this Note with respect to redemption as provided above will be delivered to the Holder’s address listed in the Security Register maintained by the Security Registrar not less [5 nor more than 30] [than 10 nor more than 60] days prior
to the [Redemption Date][Optional Redemption Date]. Notwithstanding anything in the Indenture or this Note to the contrary, such notice shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to its
Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. 

[Insert if this Note is not redeemable or is redeemable on one or more dates at the option of the Company – If this Note is redeemable at
the option of the Company, the “Redemption Price” shall initially be the Initial Redemption Percentage specified above of the principal amount of this Note to be redeemed and shall decline at each anniversary of the Redemption Commencement
Date by the Annual Redemption Percentage Reduction, if any, specified above, of the principal amount to be redeemed until the Redemption Price is 100% of such principal amount.] 

[Insert if this Note is redeemable at the option of the Company on only a single date – The “Redemption Price” shall be the
Redemption Percentage specified above of the principal amount of this Note to be redeemed.] 
 The “Amortized Face Amount” of an
Original Issue Discount Note shall be the amount equal to (i) the Issue Price set forth above plus (ii) that portion of the difference between the Issue Price and the principal amount of such Note that has accrued at the Original Yield to
Maturity (computed in accordance with generally accepted United States bond yield computation principles) by the date of redemption or repayment, as calculated by an agent appointed by the Company, but in no event shall the Amortized Face Amount of
an Original Issue Discount Note exceed its principal amount. 
 Interest payments on this Note will include interest accrued to but
excluding the Interest Payment Date or the Maturity Date, as the case may be. Interest payments for this Note will be computed and paid on the basis of a 360-day year of twelve
30-day months. 
 If an Event of Default with respect to the Notes shall occur and be continuing,
the principal of the Notes may become due and payable in the manner and with the effect provided in the Indenture. 
 [Insert if this Note
is a Senior Subordinated Medium-Term Note – The indebtedness evidenced by this Note is, to the extent provided in the Indenture, subordinate and subject in right of payment to the prior payment in full of all Senior Indebtedness, and this Note
is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Note, by accepting the same, (a) agrees to and shall be bound by the provisions of the Indenture, (b) authorizes and directs the Trustee on his
or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his or her
attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the subordination provisions
contained herein and in the Indenture by each Holder of Senior Indebtedness, whether now outstanding or hereafter created, incurred, assumed or guaranteed, and waives reliance by each such Holder upon said provisions.] 

  
 -6- 

 [Insert if this Note is a Senior Subordinated Medium-Term Note – Payment of principal
on the Securities may be accelerated only in the case of certain events involving the bankruptcy, insolvency or reorganization of the Company. There is no right of acceleration in the case of a default in the performance of any covenant of the
Company, including the payment of principal or interest. In case a Default with respect to the Securities shall occur and be continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of the
Securities through appropriate judicial proceedings. The Indenture defines a Default to include, without limitation, default in the payment of principal of the Securities when due and default for 30 days in any payment of interest on any Security of
this series.] 
 [Insert if this Note is a Senior Medium-Term Note – Payment of principal on this Note may be accelerated only in the
case of default for 30 days in any payment of principal of (or premium, if any, on) or interest on the Securities of this series and certain events involving the bankruptcy, insolvency or reorganization of the Company. There is no right of
acceleration in the case of a default in the performance of any other covenant of the Company. In case an Event of Default or Covenant Breach with respect to the Securities of this series shall occur and be continuing, the Trustee may in its
discretion proceed to protect and enforce its rights and the rights of the Holders of the Securities of this series through appropriate judicial proceedings. The Indenture defines a Covenant Breach to include default in the deposit of any sinking
fund payment, when and as due by the terms of a Security of this series or default in the performance, or breach, of any covenant or warranty of the Company in the Indenture or any Security of this series (other than a covenant or warranty a default
in whose performance or whose breach is specifically dealt with in Section 501 of the Indenture or which has expressly been included in the Indenture solely for the benefit of securities other than Securities of this series), and continuance of
such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding
Securities of this series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Covenant Breach” under the Indenture. For the purpose of this paragraph, the term
“series” refers to such Securities with identical terms, except as to issue date, principal amount and, if applicable, the date from which interest begins to accrue.] 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding to be affected
under the Indenture, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note. [Insert if this Note is a Senior Medium-Term Note – For the purpose of this paragraph, the term “default” means any event which is, or after notice or lapse of time or both
would become, an Event of Default or Covenant Breach in respect of such Securities, and, for purposes of any waivers of past defaults, the term “series” refers to such Securities with identical terms, except as to issue date, principal
amount and, if applicable, the date from which interest begins to accrue.] 
 [Insert if this Note is a Senior Subordinated Medium-Term Note
– As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding with 

  
 -7- 

 
respect to the Indenture or this Note or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice
of a continuing Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute
proceedings in respect of such Default as Trustee and offered the Trustee indemnity or security reasonably satisfactory to the Trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this
series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity or security. The foregoing shall not apply to
any suit instituted by the Holder of this Note for the enforcement of any payment of principal hereof (and premium, if any, hereon) or interest hereon on or after the respective due dates expressed herein.] 

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

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

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

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

The Notes are issuable only in registered form without coupons in denominations of $[1,000][Insert other minimum denomination] or any amount
in excess thereof which is an integral multiple of $[1,000][Insert other minimum denomination] and, unless otherwise specified on the face hereof, shall be 

  
 -8- 

 
denominated in U.S. dollars. As provided in the Indenture, and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes and of
like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No service charge will be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

No recourse shall be had for the payment of the principal of (and premium, if any) or the interest on this Note, or for any claim based
hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or any successor
corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof,
expressly waived and released. 
 The Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of
New York applicable to agreements made and to be performed in such State. 
 Under the Indenture, the Company, the Trustee and the Holder of
the Note waive, to the fullest extent permitted by law, any right to a trial by jury in any proceeding relating to the Notes. 
 All terms
used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 Except to the extent
specified in this Note pursuant to Section 301 of the Indenture, in the event of any inconsistency between the Indenture and this Note, the provisions of the Indenture shall govern. 

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

  
 -9- 

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

			
	Dated:
	
	THE BANK OF NEW YORK MELLON CORPORATION
		
	By:	 	  

 [SEAL] 
  

			
	Attest:
	
	  

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

		 	Authorized Officer

 OPTION TO ELECT REPAYMENT 

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

	
	  

	  

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

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

			
	$
                                        
                                         
                                         
                                  	  	
		
	Date
                                         
   	  	

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

  
 -11- 

 ABBREVIATIONS 

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

                       
 (Minor) 
 Under Uniform Gifts to Minors Act
                                         
            

                       
                                         
                          (State) 

TEN ENT--as tenants by the entireties 

JT TEN-- as joint tenants with right of survivorship 

                and not as tenants in common 

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

  
 -12- 

                       
                                      

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

Please Insert Social Security or Other Identifying Number of Assignee: 
  

                       
                                      

 

	
	
	  

 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS 

INCLUDING ZIP CODE OF ASSIGNEE: 
  

	
	  

	
	  

	
	  

 the within Note and all rights thereunder, and does hereby irrevocably constitute and appoint
                                         
                                         
           attorney to transfer said Note on the books of the Company, with full power of substitution in the premises. 

Dated:
                                        
                                         
                                         
                   
 NOTICE: The signature(s) to this
assignment must correspond with the name as written upon the within instrument in every particular, without alteration or enlargement, or any change whatever. 

SIGNATURE GUARANTEED:
                                         
                        

NOTICE:    The signature(s) must be guaranteed by an eligible guarantor institution (e.g., banks, securities brokers or dealers,
credit unions, national securities exchanges and savings associations) which is a member of or participant in a signature guarantee program recognized by the Securities Registrar pursuant to Rule 17Ad-15 under
the Securities Exchange Act of 1934. 

  
 -13-EX-10.1

 Exhibit 10.1 

Execution Version 

This AMENDMENT NO. 2 (this “Amendment No. 2”), dated as of December 3, 2021 and entered into by and among Perrigo
Finance Unlimited Company, a public unlimited company organized under the laws of Ireland (the “Term Facility Borrower”), Perrigo Company PLC, a public limited company organized under the laws of Ireland (the
“Company”), each lender party hereto (each a “Consenting Lender” and, collectively, the “Consenting Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the
“Administrative Agent”), amends and is made pursuant to that certain Term Loan Credit Agreement, dated as of August 15, 2019 (as amended by Amendment No. 1 and Waiver, dated as of August 10, 2021, and as further
amended, restated, supplemented, waived or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”), by and among the Term Facility Borrower, the Company, the lenders from time to time party thereto,
the Administrative Agent and the other agents party thereto. 
 W I T N E S S E
T H : 
 WHEREAS, the Term Facility Borrower has requested that the terms of the Credit Agreement be amended as set forth
herein; and 
 WHEREAS, by signing this Amendment No. 2, each Consenting Lender has consented to this Amendment No. 2 and to the
amendments to the Credit Agreement described in Section 2 below; 
 NOW, THEREFORE, in consideration of the premises contained herein,
the parties hereto agree as follows: 
 1.    Defined Terms; References. Except as otherwise defined in this
Amendment No. 2, terms defined in the Credit Agreement are used herein (including the recitals hereto) as defined therein. On and after the Amendment Effective Date (as defined below), each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Amendment No. 2. 

2.    Amendments. The Administrative Agent and each Consenting Lender hereby consent to amend the Credit Agreement
as follows: 
 (a)    The definition of “Interest Period” set forth in Section 1.01 of the Credit
Agreement shall be amended to delete the reference to “two,” in clause (a) thereof. 
 (b)    Clause
(f) of Section 6.06 of the Credit Agreement shall be replaced in its entirety with the following: 
 “(f) the Company may make
Restricted Payments with respect to its Equity Interests so long as no Default exists or would be caused thereby, provided that, with respect to Restricted Payments pursuant to this clause (f), prior to June 30, 2022, the Company will
not declare or make, or agree to pay or make, directly or indirectly, any such Restricted Payments, except (i) if after giving effect on a pro forma basis to such Restricted Payment and any Indebtedness incurred in connection therewith, the
Leverage Ratio as of the most recently ended fiscal quarter for which financial statements have been delivered does not exceed 3.75 to 1.0, (ii) that the Company may declare and pay regularly scheduled dividends with respect to its Equity Interests,
or (iii) the Company may make Restricted Payments in an amount not to exceed $50,000,000 so long as no Default exists or would be caused thereby.” 

 (c)    Section 6.10 of the Credit Agreement shall be replaced in its
entirety with the following: 
 “SECTION 6.10. Leverage Ratio. (i) For the Fiscal Quarters ended on or about
September 30, 2021, December 31, 2021 and March 31, 2022, the Company will not permit the Leverage Ratio to exceed 5.75 to 1.0 as of the last day of such Fiscal Quarter of the Company and (ii) beginning with the Fiscal Quarter
ended on or about June 30, 2022, the Company will not permit the Leverage Ratio to exceed 3.75 to 1.0 as of the last day of any Fiscal Quarter of the Company; provided that, with respect to clause (ii) only, during a Fiscal Quarter
in which a Qualified Acquisition has occurred and for the four following Fiscal Quarters, such limit will be increased so that the Company will not permit the Leverage Ratio to exceed 4.0 to 1.0 as of the last day of any such Fiscal Quarter of the
Company; provided further that such increase may not occur with respect to more than three (3) Qualified Acquisitions during the term of this Agreement.” 

3.    Representations and Warranties; Loan Document. Each of the Term Facility Borrower and the Company hereby
represents and warrants that as of the date hereof (a) the representations and warranties of the Loan Parties set forth in the Loan Documents are true and correct in all material respects (except that any representation or warranty which is
already qualified as to materiality or by reference to Material Adverse Effect is true and correct in all respects) on and as of such date, with the same effect as if made on and as of such date (other than those representations and warranties that
by their terms expressly relate to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date) and (b) no Default or Event of Default has occurred and is continuing.
This Amendment No. 2 is a “Loan Document,” as defined in the Credit Agreement. 

4.    Conditions. The amendments contained in Section 2 of this Amendment No. 2 shall become effective on
the date (the “Amendment Effective Date”) on which each of the following conditions shall have been satisfied: 

(d)    The Administrative Agent shall have received counterparts of this Amendment No. 2 duly executed and delivered
by the Term Facility Borrower, the Company, each Consenting Lender constituting the Required Lenders and the Administrative Agent. 

(e)    The representations and warranties of each Loan Party set forth in Section 3 above are true and correct on and
as of the Amendment Effective Date. 
 (f)    The Term Facility Borrower shall have paid all fees and expenses for which
invoices have been presented on or prior to the Amendment Effective Date, including reasonable legal fees and disbursements of counsel to the Administrative Agent. 

(g)    The Term Facility Borrower shall have paid to the Administrative Agent, for the account of each Consenting Lender,
a non-refundable and fully earned fee equal to 0.035% of each such Consenting Lender’s aggregate Commitments as of the Amendment Effective Date. 

5.    Continuing Effect; No Other Amendments or Modifications; Reaffirmation. Except as expressly provided herein,
all of the terms and provisions of the Credit Agreement are and shall remain in full force and effect. The amendments provided for herein are limited to the specific subsection(s) of the Credit Agreement specified herein and shall not constitute an
amendment or other modification of, or an indication of the Administrative Agent’s or the Consenting Lenders’ willingness to amend or modify any other provisions of the Credit Agreement. Each of the Term Facility Borrower and the Company
hereby acknowledges and agrees that, after giving effect to this Amendment No. 2, except as expressly set forth in this Amendment No. 2, all of its respective obligations and liabilities under the Loan Documents (including, without
limitation, the Guaranty executed by the Company) to which it is a party are reaffirmed, and remain in full force and effect. The execution, delivery and performance of this Amendment No. 2 shall not constitute a waiver of any provision of, or
operate as a waiver of any right, 

  
 2 

 
power or remedy of any Agent or Consenting Lender under, the Credit Agreement or any of the other Loan Documents. This Amendment No. 2 shall not constitute a novation of the Credit Agreement
or any of the other Loan Documents. 
 6.    Expenses. The Term Facility Borrower agrees to pay and reimburse the
Administrative Agent for all its reasonable costs and out-of-pocket expenses incurred in connection with the preparation and delivery of this Amendment No. 2,
including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. 

7.    Headings. Section headings herein and in the Loan Documents are included for convenience of reference only
and shall not affect the interpretation of this Amendment No. 2 or any other Loan Document. 

8.    Counterparts. This Amendment No. 2 may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment No. 2 by email or facsimile
transmission or other electronic means shall be effective as delivery of a manually executed counterpart of this Amendment No. 2. The words “execution,” “signed,” “signature,” “delivery,” and words of
like import in or relating to this letter agreement and/or any document to be signed in connection with this letter agreement and the transactions contemplated hereby shall be deemed to include Electronic Signatures (as defined below), deliveries or
the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be.
“Electronic Signatures” means any electronic symbol or process attached to, or associated with, any contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record. 

9.    GOVERNING LAW. THIS AMENDMENT NO. 2 SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK. SECTIONS 9.09 AND 9.10 OF THE CREDIT AGREEMENT ARE INCORPORATED BY REFERENCE HEREIN MUTATIS MUTANDIS. 

[remainder of page intentionally left blank] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly
executed and delivered by their respective authorized officers as of the day and year first above written. 
  

			
	PERRIGO FINANCE UNLIMITED COMPANY, as the Term Facility Borrower
		
	By:	 	 /s/ Sonia A. Hollies

	Name:	 	Sonia A. Hollies
	Title:	 	SVP, Global Tax, Risk Mgmt. & Treasurer
	
	PERRIGO COMPANY PLC, as the Company
		
	By:	 	 /s/ Sonia A. Hollies

	Name:	 	Sonia A. Hollies
	Title:	 	SVP, Global Tax, Risk Mgmt. & Treasurer

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	JPMORGAN CHASE BANK, N.A., as Administrative Agent
		
	By:	 	 /s/ Erik Barragan

	Name:	 	Erik Barragan
	Title:	 	Authorized Officer

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	 /s/ Erik Barragan

	Name:	 	Erik Barragan
	Title:	 	Authorized Officer

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	HSBC Bank USA, N.A., as a Lender
		
	By:	 	 /s/ Eric Seltenrich

	Name:	 	Eric Seltenrich
	Title:	 	Managing DIrector

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Jordan Harris

	Name:	 	Jordan Harris
	Title:	 	Managing Director

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Joseph L. Corah

	Name:	 	Joseph L. Corah
	Title:	 	Director

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	FIFTH THIRD BANK, as a Lender
		
	By:	 	 /s/ Nathaniel E. Sher

	Name:	 	Nathaniel E. (Ned) Sher
	Title:	 	Managing Director

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	ING BANK N.V., DUBLIN BRANCH, as a Lender
		
	By:	 	 /s/ Cormac Langford

	Name:	 	Cormac Langford
	Title:	 	Director
		
	By:	 	 /s/ Sean Hassett

	Name:	 	Sean Hassett
	Title:	 	Director

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	MIZUHO BANK, LTD., as a Lender
		
	By:	 	 /s/ Tracy Rahn

	Name:	 	Tracy Rahn
	Title:	 	Executive Director

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	CITIZENS BANK, N.A., as a Lender
		
	By:	 	 /s/ Sarah Willett

	Name:	 	Sarah Willett
	Title:	 	Managing Director

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	PNC BANK, N.A., as a Lender
		
	By:	 	 /s/ Brock Dana

	Name:	 	Brock Dana
	Title:	 	Senior Vice President

  
 [Perrigo - Term Loan
Amendment No. 2] 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Michael West

	Name:	 	Michael West
	Title:	 	Senior Vice President

  
 [Perrigo - Term Loan
Amendment No. 2]

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