Document:

Offeree: MassRoots, Inc.

No.:
06

 

FLOWHUB,
LLC

SUBSCRIPTION AGREEMENT

AND RELATED MATERIALS

 

This Subscription
Agreement and the materials included with it are the confidential property of Flowhub, LLC ("Flowhub"), and the recipient
acknowledges and agrees that he or she may not divulge or use this information except to evaluate an investment in Flowhub, and
may not reproduce this information in whole or in part for any purpose. This information is for the authorized use of the named
recipient and his or her advisors only and may not be delivered to or relied upon by any other person. If the recipient does not
invest in Flowhub, he or she must return these materials by May 26, 2015.

 

The materials included with
this Subscription Agreement are:

Articles of Organization

Flowhub Amended and Restated Operating
Agreement

Risk Factors of Flowhub

Subscriber Questionnaire

Business Plan / February 2015

Financial Statements as of March 19,
2015 (internal and unaudited)

 

SUBSCRIPTION AGREEMENT

FOR

FLOWHUB, LLC

 

The undersigned subscriber
(the "Subscriber") understands that Flowhub, LLC, a Colorado limited liability company (the "LLC" or “Flowhub”),
is offering to sell (the "Offering") up to 494,118 Class A Preferred Shares (the "Shares") pursuant to that
certain Amended and Restated Operating Agreement entered into by the Members on or about the date hereof (the "Operating
Agreement). The Subscriber further understands that the Offering is being made on a private basis pursuant to Section 4(a)(2)
of the Securities Act of 1933, as amended (the "Securities Act") and will not be registered under the Securities Act.
The total amount of investments in the LLC and the persons and amounts invested as of the date hereof are set forth on Schedule
B to the Operating Agreement (defined below).

 

1.Subscription. 

 

(a)            
The person or entity executing this Subscription Agreement has received and delivered to Flowhub each of the following items
(the “Transaction Documents”):

 

• 
Check or evidence of wire transfer for the Subscription Amount (defined below)

• 
Completed and or executed copy of the following:

• 
Amended and Restated Flowhub Operating Agreement (“Operating Agreement”)

• 
Subscription Agreement

• 
Subscriber Questionnaire

 

(b)            
The Subscriber hereby subscribes for and agrees to acquire: (i) a membership interest in Flowhub with an initial capital contribution
in the amount shown on the signature page to this Subscription Agreement (the "Subscription Amount").

    	 	 	 

    	 

    

2.Acceptance
of Subscription. This Subscription Agreement will not be effective until accepted by Flowhub. Subscriber understands that
the offer contained in this subscription is irrevocable and, further, that neither the offer nor the terms and conditions of this
Subscription Agreement may be modified without the prior written consent of Flowhub. Flowhub has the right, in its sole discretion,
to accept or reject any subscription in whole or in part. Flowhub may reject the subscription for any reason by giving written
notice to Subscriber and returning Subscriber's payment of the Subscription Amount by personal delivery or first class mail directed
to Subscriber's address set forth on the signature page. Notwithstanding anything in this Agreement to the contrary, Flowhub shall
have no obligation to issue any of the membership interests to any person who is a resident of a jurisdiction in which their issuance
would constitute a violation of the securities, "blue sky" or other similar laws of such jurisdiction (collectively
referred to as the "State Securities Laws").

 

3.[Reserved]

 

4.Subscriber's
Acknowledgements, Representations and Other Agreements. By executing this Subscription Agreement, Subscriber:

 

(a)            
Acknowledges that upon submitting this Subscription Agreement, Subscriber will be offering to acquire the membership interest
from Flowhub. The undersigned represents that Subscriber has adequate means of providing for Subscriber's current financial and
investment needs and possible contingencies, and that Subscriber has no need now, and anticipates no need in the foreseeable future,
to sell the membership interest.

 

(b)            
Acknowledges that Subscriber is aware that no federal or state agency has made any finding or determination as to the fairness
for public or private investment, nor any recommendation or endorsement, of the membership interest as an investment.

 

(c)            
Represents and warrants that Subscriber has the sophistication, knowledge and investment experience to properly review and understand
the nature of the investment in Flowhub and the risks involved, and that Subscriber has the financial resources to make the investment
contemplated by this Subscription Agreement.

 

(d)            
Represents and warrants that Subscriber has fully considered for purposes of this investment the Flowhub Risk Factors and the
risk factors relating to the business of Flowhub included with this Subscription Agreement, or other risks whether or not expressly
stated. Subscriber acknowledges that the membership interest constitutes an investment which is suitable and consistent with Subscriber's
investment program; Subscriber's financial situation enables Subscriber to bear the risks of this investment and consequently,
without limiting the generality of the foregoing, Subscriber is able to hold the membership interest for an indefinite period
of time and has sufficient net worth to afford a loss of the entire investment in the membership interest in the event such loss
should occur.

 

(e)            
Represents and warrants that, in making the decision to acquire the membership interest, Subscriber has been given the opportunity
to ask questions and receive answers from management of Flowhub concerning its intended operations and to obtain any additional
information, to the extent Flowhub possesses such information or can acquire it without unreasonable effort or expense, necessary
to verify the accuracy of the information given. In addition, Subscriber has been provided information regarding Flowhub and its
planned businesses and prospects. Subscriber represents and warrants that Subscriber has sufficient knowledge of and experience
in business and financial matters, and with comparable offerings, so as to enable Subscriber to utilize such information to evaluate
the risks of this investment and to make an informed investment decision, and that such information was relied upon in the decision
to make the investment contemplated by this Subscription Agreement.

    	 	 	 

    	 

    

(f)             
Acknowledges that Subscriber understands that the membership interest is being offered under exemptions from the registration
requirements provided by the Securities Act of 1933, as amended (the "Act"), as well as Rules and Regulations promulgated
pursuant to the Act, and exemptions from applicable state laws within the states in which the membership interests are offered,
and warrants and represents that the membership interest is being acquired by the undersigned solely for Subscriber's own account,
for investment purposes only, and is not being purchased with a view to or for resale, distribution, subdivision or fractionalization
thereof; Subscriber has no agreement or other arrangement, formal or informal, with any person to sell, transfer or pledge any
part of the membership interest or which would guarantee the undersigned any profit or protect the undersigned against any loss
with respect to the membership interest; Subscriber has no plans of any nature to enter into any such agreements, or arrangements,
and consequently, Subscriber must bear the economic risk of the investment for an indefinite period of time because the membership
interest cannot be resold or otherwise transferred unless subsequently registered under the Act and applicable state securities
laws (which Flowhub is not obligated and does not expect to do) or an exemption from such registration is available.

 

(h)              
Agrees to indemnify and hold harmless Flowhub, its Manager, and their respective agents and employees from and against any and
all loss, damage, or liability due to or arising from any breach of any of the foregoing representations, warranties and covenants;
provided, however, no representation, warranty, acknowledgment or agreement constitutes a waiver of any rights granted to Subscriber
under the Federal or state securities laws.

 

(i)                
Acknowledges that the rights and obligations of the membership interest are contained in the Operating Agreement, which is included
with this Subscription Agreement and that Subscriber has read and understands the Operating Agreement.

 

(j)                
Acknowledges that the Subscription Amount will be aggregated with amounts received from other subscribers, and that the proceeds
from such subscriptions will be used to pay the expenses of Flowhub. Subscriber acknowledges that the financial success of Flowhub
and the ultimate return on investment, if any, on the investment of subscribers to Flowhub is entirely dependent on the ability
to operate Flowhub profitably and provide a return to its members. Subscriber acknowledges receipt of the Operating Agreement
and Risk Factors and that Subscriber has read and understood each of these items and the impact that they will have on the performance
of Subscriber's investment in Flowhub.

 

(k)              
Agrees that all of the above will apply to any additional membership interests acquired by Subscriber as part of any voluntary
capital contribution.

 

(1)Acknowledges
and agrees that Subscriber understands the meaning and legal consequences of the foregoing representations, warranties and covenants
and acknowledges that Flowhub has relied upon such representations, warranties and covenants and the indemnification provided
in this Agreement, all of which will survive Subscriber's purchase of the membership interest as well as any acceptance or rejection
of a subscription for the membership interest.

 

(m)MassRoots, Inc. agrees to indemnify
and hold harmless the Subscriber, its officers, directors, and its employees from and against any and all loss, damage, or liability
due to or arising from any breach of any of the foregoing representations, warranties and covenants; provided, however, no representation,
warranty, acknowledgment or agreement constitutes a waiver of any rights granted to MassRoots, Inc. under the Federal or state
securities laws.

 

5Representations
and Warranties of Flowhub. Flowhub hereby represents and warrants to the Subscriber as follows:

 

(a)Subsidiaries.
All of the direct and indirect subsidiaries of Flowhub are as follows: Flowhub has no subsidiaries. As Flowhub has no subsidiaries,
all other references to the Subsidiaries or any of them in the Transaction Documents shall be disregarded.

 

    	 	 	 

    	 

    

(b)Organization and Qualification. Flowhub and each of the
Subsidiaries is an entity organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry
on its business as currently conducted. Neither Flowhub nor any Subsidiary is in violation or default of any of the
provisions of its respective certificate or articles of organization, bylaws or other organizational or charter documents.
Each of Flowhub and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such
qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, has not, and
could not reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of
any Transaction Document, (ii) a material adverse effect on the results of operations assets, business, prospects or
condition (financial or otherwise) of Flowhub and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on
Flowhub's ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of
(i), (ii) or (iii), a "Material Adverse Effect") and no proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

(c)Authorization;
Enforcement. Flowhub has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of each of this Agreement and the other Transaction Documents by Flowhub and the consummation by it
of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of Flowhub and
no further action is required by Flowhub, the Board of Managers or Flowhub's members in connection herewith or therewith other
than in connection with the Required Approvals (as defined below). This Agreement and each other Transaction Document to which
it is a party has been (or upon delivery will have been) duly executed by Flowhub and, when delivered in accordance with the terms
hereof and thereof, will constitute the valid and binding obligation of Flowhub enforceable against Flowhub in accordance with
its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting the enforcement of creditors' rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(d)No
Conflicts. The execution, delivery and performance by Flowhub of this Agreement and the other Transaction Documents to which it
is a party, the issuance and sale of the Shares and the consummation by it of the transactions contemplated hereby and thereby
do not and will not: (i) conflict with or violate any provision of Flowhub's or any Subsidiary's certificate or articles of organization,
bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default (or an event that with notice
or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or assets
of Flowhub or any Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation (with or without
notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Flowhub or Subsidiary
debt or otherwise) or other understanding to which Flowhub or any Subsidiary is a party or by which any property or asset of Flowhub
or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals unless such Required Approvals are obtained
in connection with the Closing, conflict with or result in a violation of any law, rule, regulation, order, judgment , injunction,
decree or other restriction of any court or governmental authority to which Flowhub or a Subsidiary is subject (including federal
and state securities laws and regulations) , or by which any property or asset of Flowhub or a Subsidiary is bound or affected;
except in the case of each of clauses (ii) and (iii), such as have not resulted, and could not reasonably be expected to result
in, a Material Adverse Effect.

 

(e)Filings,
Consents and Approvals. Flowhub is not required to obtain any consent, waiver, authorization or order of, give any notice to,
or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by Flowhub of the Transaction Documents, other than the filing of Form
D with the Commission and such related filings as are required to be made under applicable state securities laws (collectively,
the "Required Approvals").

 

    	 	 	 

    	 

    

(f)Issuance
of the Shares. The Shares are duly authorized and, when issued and paid for in accordance with the applicable Transaction Documents,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by Flowhub other than restrictions
on transfer provided for in the Transaction Documents.

 

(g)Capitalization. The capitalization of Flowhub is as set forth in
Schedule B of the Operating Agreement. Except as set forth in Schedule B of the Operating Agreement, no other Person has any
right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions
contemplated by the Transaction Documents. There are no outstanding options, warrants, scrip rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or
exchangeable for, or giving any person any right to subscribe for or acquire any shares of Common Stock or Preferred Stock,
or contracts, commitments, understandings or arrangements by which Flowhub or any Subsidiary is or may become bound to issue
additional shares of Common Stock or Preferred Stock. The issuance and sale of the Shares will not obligate Flowhub to issue
shares of Common Stock, Preferred Stock or other securities to any Person (other than the Subscriber) and will not result,
other than due to an adjustment in percentage interest for existing holders caused by the investment of MassRoots Inc., in a
right of any holder of Flowhub securities to adjust the exercise, conversion, exchange or reset price under any of such
securities. All of the membership interest of capital stock of Flowhub are duly authorized, validly issued, fully paid and
nonassessable, have been issued in compliance with all federal and state securities laws, and none of such outstanding Shares
was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. But for the
approval by the Board of Managers of the subscription of MassRoots inc., no further approval or authorization of any member,
the Board of Managers or others is required for the issuance and sale of the Shares. Except as set forth in the Operating
Agreement, there are no members agreements, voting agreements or other similar agreements with respect to Flowhub's capital
stock to which Flowhub is a party or, to the knowledge of Flowhub, between or among any of Flowhub's members.

 

(h)Financial
Statements. Flowhub has delivered to each Subscriber its unaudited financial statements for the period ended March 19, 2015. The
Financial Statements were not prepared in accordance with United States generally accepted accounting principles applied on a
consistent basis during the periods involved ("GAAP"), except as may be otherwise specified in the Financial Statements
or the notes thereto and except that unaudited statements may not contain all footnotes required by GAAP, and fairly present in
all material respects the financial position of Flowhub and its consolidated Subsidiaries as of and for the dates thereof and
the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal year-end
audit adjustments.

 

(i)Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the Financial Statements: (i) there has been no event,
occurrence or development material to the consideration of the financials, (ii) Flowhub has not incurred any liabilities (contingent
or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past
practice and (B) liabilities not required to be reflected in Flowhub's financial statements pursuant to GAAP, (iii) Flowhub has
not altered its method of accounting, (iv) Flowhub has not declared or made any dividend or distribution of cash or other property
to its members or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) Flowhub
has not issued any equity securities to any officer, director or Affiliate; provided, however that Jesicca Breckenridge formerly
(CTO) of Flowhub, withdrew from Flowhub on or before April 13th 2015.

 

(j)Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of Flowhub, threatened
against or affecting Flowhub, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental
or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an "Action")
which adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Shares.
Neither Flowhub nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a
claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty.

 

    	 	 	 

    	 

    

(k)Compliance. Neither Flowhub nor any Subsidiary: (i) is in default
under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both,
would result in a default by Flowhub or any Subsidiary under), nor has Flowhub or any Subsidiary received notice of a claim
that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or
instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation
has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator or other governmental
authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority,
including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection,
occupational health and safety, product quality and safety and employment and labor matters.

 

(l)Title
to Assets. Flowhub and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good
and marketable title in all personal property owned by them that is material to the business of Flowhub and the Subsidiaries,
in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not
materially interfere with the use made and proposed to be made of such property by Flowhub and the Subsidiaries and (ii) Liens
for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in accordance with GAAP
and the payment of which is neither delinquent nor subject to penalties. To Flowhub's knowledge, any real property and facilities
held under lease by Flowhub and the Subsidiaries are held by them under valid, subsisting and enforceable leases with which Flowhub
and the Subsidiaries are in compliance in all material respects.

 

(m)Intellectual
Property. Flowhub and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications,
service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar
rights necessary or required for use in connection with their respective businesses and as to which the failure to so have could
have a Material Adverse Effect (collectively, the "Intellectual Property Rights"). None of, and neither Flowhub nor
any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual Property Rights has expired, terminated
or been abandoned, or is expected to expire or terminate or be abandoned, within two years from the date of this Agreement. Neither
Flowhub nor any Subsidiary has received any written notice of a claim that the Intellectual Property Rights violate or infringe
upon the rights of any Person. To the knowledge of Flowhub, all such Intellectual Property Rights are enforceable and there is
no existing infringement by another Person of any of the Intellectual Property Rights owned by Flowhub or the Subsidiaries or
subject to an exclusive license in favor of Flowhub or the Subsidiaries. Flowhub and its Subsidiaries have taken reasonable security
measures to protect the secrecy, confidentiality and value of all of their intellectual properties.

 

(n)Certain
Fees. No brokerage or finder's fees or commissions are or will be payable by Flowhub or any Subsidiary to any broker, financial
advisor or consultant finder placement agent, investment banker, bank or other Person with respect to the transactions contemplated
by the Transaction Documents. The Subscriber shall have no obligation with respect to any fees or with respect to any claims made
by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions
contemplated by the Transaction Documents.

 

(o)Private
Placement. No registration under the Securities Act is required for the offer and sale of the Shares by Flowhub to the Subscriber
as contemplated hereby.

 

(p)Investment
Company. Flowhub is not, and is not an Affiliate of, and immediately after receipt of payment for the Shares, will not be or be
an Affiliate of, an "investment company" within the meaning of the Investment Company Act of 1940, as amended.

 

(q)Registration
Rights. No Person has any right to cause Flowhub to effect the registration under the Securities Act of any securities of Flowhub
or any Subsidiary.

 

    	 	 	 

    	 

    

(r)Disclosure. Flowhub has made available to the Subscriber all the
information reasonably available to Flowhub that the Subscriber have requested for deciding whether to acquire the Shares.
All of the disclosure contained in this agreement and the transactions contemplated hereby is true and correct in all
material respects and does not contain any untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.
Flowhub acknowledges and agrees that no Subscriber makes or has made any representations or warranties with respect to the
transactions contemplated hereby other than those specifically set forth in Section 4 hereof.

 

(s)Tax
Status. Flowhub and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign
income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has paid
all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material taxes
for periods subsequent to the periods to which such returns, reports or declarations apply. To Flowhub's knowledge, there are
no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction.

 

(t)FlowHub agrees to indemnify and hold
harmless the Subscriber, its officers, directors, and its employees from and against any and all loss, damage, or liability due
to or arising from any breach of any of the foregoing representations, warranties and covenants; provided, however, no representation,
warranty, acknowledgment or agreement constitutes a waiver of any rights granted to FlowHub under the Federal or state securities
laws.

 

6. Miscellaneous.

 

(a)               
Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon
the respective successors and assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon
any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement.

 

(b)              
This Agreement and the Shares shall be governed by and construed under the laws of the State of Colorado as applied to agreements
among Colorado residents, made and to be performed entirely within the State of Colorado.

 

(c)               
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

(d)              
The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.

 

(f)             
Each party represents that it neither is nor will be obligated for any finder’s fee or commission in connection with this
transaction. Subscriber agrees to indemnify and to hold harmless the LLC from any liability for any commission or compensation
in the nature of a finder's fee (and the costs and expenses of defending against such liability or asserted liability) for which
Subscriber or any of its managers, members, partners, employees or representatives is responsible. The LLC agrees to indemnify
and hold harmless Subscriber from any liability for any commission or compensation in the nature of a finder's fee (and the costs
and expenses of defending against such liability or asserted liability) for which the LLC or any of its officers, employees or
representatives is responsible.

 

(g)            
If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall
be entitled to reasonable attorneys' fees, costs and necessary disbursements in addition to any other relief to which such party
may be entitled.

 

    	 	 	 

    	 

    

(h)              
This Agreement, the Shares and the other documents delivered pursuant hereto constitute the full and entire understanding and
agreement between the parties with regard to the subjects hereof and thereof. The LLC's agreements with each of the Subscribers
are separate agreements, and the sales of the Shares to each of the Subscribers are separate sales. Nonetheless, any term of this
Agreement or the Shares may be amended and the observance of any term of this Agreement or the Shares may be waived (either generally
or in a particular instance and either retroactively or prospectively), with the written consent of the LLC and the holders of
the majority of the Shares outstanding. Any waiver or amendment effected in accordance with this Section shall be binding upon
each party to this Agreement and any holder of any Share purchased under this Agreement at the time outstanding and each future
holder of all such Shares.

 

(i)                
If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded
from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable
in accordance with its terms.

    	 	 	 

    	 

    

SIGNATURE PAGE FOR
CORPORATIONS AND PARTNERSHIPS

 

Subscriber hereby
tenders to Flowhub: (i) wired funds or a check payable to the order of "Flowhub, LLC," in the amount set forth below;
(ii) a fully-completed and executed copy of this Agreement; (iii) a fully-completed and executed copy of the Subscriber Questionnaire;
and (iv) a fully-completed and executed counterpart Amended and Restated Operating Agreement.

Subscribes
for

 

494,118 shares of Class
A Preferred Shares of Flowhub, LLC for an aggregate purchase price of $175,000

 

Dated: May 26th, 2015

 

CORPORATION: 

PARTNERSHIP:

 

	MassRoots, Inc.	 	Name of Partnership 
	By: /s/ Isaac Dietrich 	 	By: 
	(Signature of Manager or other authorized person)	 	(Signature of General Partner or other authorized person)

         

	Isaac Dietrich, CEO and President 	 	(Print Name and Title of Signatory)

         

	Address of Corporation 	 	Address of Partnership:

1624 Market Street, Suite 201, Denver, CO 80202

 

ACCEPTED:

FLOWHUB, LLC

 

By:
/s/ Kyle Sherman

Kyle Sherman, ManagerExhibit 4.2

 

May 28, 2015

 

Officer’s Certificate

Floating Rate Notes due 2020

1.250% Notes due 2023

1.875% Notes due 2027

 

The Bank of New York Mellon, as Trustee

101 Barclay Street

Floor 7E

New York, New York 10286

 

Ladies and Gentlemen:

 

Officer’s Certificate under Section
301 of the Indenture

 

Pursuant to Article Three of the Indenture, dated as of October
9, 2012 (as it may be amended or supplemented, the “Indenture”), between General Electric Company (the “Company”)
and The Bank of New York Mellon as trustee (the “Trustee”), the Board Resolutions dated as of March 14, 1986,
November 2, 1998, March 11, 2011, September 2, 2011, June 8, 2012, September 7, 2012, February 15, 2013, February 7, 2014 and March
6, 2015 and the resolutions of the Funding Committee of the Board of Directors of the Company dated as of September 26, 2012, March
4, 2014 and March 6, 2015 of which copies certified by the Secretary or an Associate Secretary of the Company are being delivered
herewith under Section 301 of the Indenture,

 

A.          The Company’s Floating
Rate Notes due 2020 (the “Floating Rate Notes”) are hereby established. The Floating Rate Notes shall be in
substantially the form attached hereto as Annex 1.

 

B.          The Company’s 1.250% Notes
due 2023 (the “2023 Notes”) are hereby established. The 2023 Notes shall be in substantially the form attached
hereto as Annex 2.

 

C.          The Company’s 1.875% Notes
due 2027 (the “2027 Notes” and together with the Floating Rate Notes and the 2023 Notes, the “Notes”)
are hereby established. The 2027 Notes shall be in substantially the form attached hereto as Annex 3.

 

D.          The terms and characteristics
of the Notes shall be as follows (the numbered clauses set forth below corresponding to the numbered subsections of Section 301
of the Indenture, with terms used and not defined herein having the meanings specified in the Indenture) and as shall be set forth
in the forms of Floating Rate Note, 2023 Note and 2027 Note attached hereto as Annex 1, Annex 2 and Annex 3, respectively:

 

Floating Rate Notes

(1)          the
title of the Floating Rate Notes shall be the “Floating Rate Notes due 2020.” 

    	 

    	

    

(2)          the aggregate principal amount
of Floating Rate Notes which may be authenticated and delivered under the Indenture shall be limited to €650,000,000 (except
as provided in Section 301(2) of the Indenture); provided, however, that such authorized aggregate principal amount may from time
to time be increased above such amount by a Board Resolution to such effect; and provided further, that additional Floating Rate
Notes may not be issued under the same ISIN and/or any other identifying number unless such additional Floating Rate Notes and
the original Floating Rate Notes are fungible for U.S. federal income tax purposes;

 

(3)          the date on which the principal
of the Floating Rate Notes shall be payable shall be May 28, 2020;

 

(4)          the Floating Rate Notes shall
bear interest at a floating rate determined in the manner provided in the form of Note relating to such Floating Rate Notes. Interest
shall accrue from the original issue date of the Floating Rate Notes. Subject to the terms set forth in the form of Floating Rate
Note incorporated herein by reference, the Interest Payment Dates on which such interest will be payable shall be February 28,
May 28, August 28 and November 28 of each year, commencing August 28, 2015. The Regular Record Date for the determination of Holders
to whom interest is payable on any such Interest Payment Date shall be the 15th calendar day (whether or not a Business
Day, as defined below) immediately preceding the related Interest Payment Date, or if the Floating Rate Notes are represented by
one or more global securities, the close of business on the business day (for this purpose a day on which Euroclear Bank S.A/N.V.
(“Euroclear”) and Clearstream Banking, société anonyme (“Clearstream”)
are open for business) immediately preceding the related Interest Payment Date; provided, however, that interest payable on the
Stated Maturity Date or any Redemption Date shall be payable to the Person to whom the principal of such Floating Rate Notes shall
be paid. Interest on the Floating Rate Notes will be computed and paid on the basis of a 360-day year and the actual number of
days in each interest payment period;

 

(5)          payment of the principal of
and interest on the Floating Rate Notes shall be made at the office or agency of the Company maintained for that purpose in the
City of London, England, which shall be initially the corporate trust office of The Bank of New York Mellon (London Branch), located
at One Canada Square, London E14 5AL; provided, however, that at the option of the Company payments of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, provided that
all payments of principal and interest with respect to the Floating Rate Notes represented by one or more Global Securities deposited
with, or on behalf of, a common depositary, and registered in the name of the nominee of the common depositary for the accounts
of Clearstream and Euroclear will be made through the facilities of the common depositary; the Company undertakes to maintain
a paying agent in a member state of the European Union that, to the extent permitted by law, will not be obliged to 

    	2

    	

    

withhold or deduct tax pursuant to the European Union
Directive 2003/48/EC regarding the taxation of savings income in relation to the Floating Rate Notes;

 

(6)          the Floating Rate Notes may
be redeemed pursuant to the terms set forth in the form of the Floating Rate Note incorporated herein by reference;

 

(7)          not applicable;

 

(8)          the Floating Rate Notes shall
be issuable in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof;

 

(9)          not applicable;

 

(10)        all payments of interest and
principal on the Floating Rate Notes, including payments made upon any redemption of the Floating Rate Notes, will be made in euro.
If the euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company's
control or if the euro is no longer being used by the then member states of the European Monetary Union that have adopted the euro
as their currency or for the settlement of transactions by public institutions of or within the international banking community,
then all payments in respect of the Floating Rate Notes will be made in United States dollars until the euro is again available
to the Company or so used. The amount payable on any date in euro will be converted into U.S. dollars on the basis of the most
recently available “Market Exchange Rate” for euro, which shall mean the noon buying rate in The City of New York for
cable transfers of euros as certified for customs purposes (or, if not so certified, as otherwise determined) by the United States
Federal Reserve Board. The Market Exchange Rate most recently available on, or prior to, the second Business Day before the relevant
determination date will be the basis for determining the equivalent of euro in the currency of the United States of America for
any purpose under the Indenture, including for purposes of the definition of “Outstanding” in Section 101 of
the Indenture. Any payment in respect of the Floating Rate Notes so made in U.S. dollars will not constitute an Event of Default
under the Floating Rate Notes or the Indenture. Neither the Trustee nor the Paying Agent shall have any responsibility for any
calculation or conversion in connection with the foregoing;

 

(11)        not applicable;

 

(12)        not applicable;

 

(13)        not applicable;

 

(14)        not applicable;

 

(15)        not
applicable; 

    	3

    	

    

(16)        the Floating Rate Notes will
initially be issued in the form of one or more Global Securities and registered in the name of the nominee of the common depositary
for the accounts of Clearstream and Euroclear. The Bank of New York Mellon (London Branch) shall initially serve as the Depositary
for such Global Securities;

 

(17)        not applicable;

 

(18)        not applicable;

 

(19)        not applicable;

 

(20)        not applicable;

 

(21)        not applicable;

 

(22)        the Paying Agent and the Calculation
Agent for the Floating Rate Notes will be The Bank of New York Mellon (London Branch). Notwithstanding the foregoing, upon notice
to the Trustee, the Company may change the Paying Agent;

 

(23)        not applicable;

 

(24)        not applicable;

 

(25)        not applicable;

 

(26)        the Securities may be listed
on the New York Stock Exchange; and

 

(27)        solely with respect to the Floating Rate Notes, the definition of “Business Day”
under Section l01 of the Indenture shall be amended and restated as follows: “Business Day” means any day, other than
a Saturday or Sunday, that is not a day on which banking institutions in The City of New York or London are authorized or required
by law or executive order to close and that is a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer
System (the TARGET2 system), or any successor thereto, operates. Solely with respect to the Floating Rate Notes, the definition
of “Depositary” under Section l01 of the Indenture shall be amended and restated as follows: “Depositary”
means, with respect to the Securities of any series issuable in whole or in part in the form of one or more Global Securities,
a common depositary for the accounts of Clearstream Banking, société anonyme and Euroclear Bank S.A/N.V.

 

The Company will be obligated to
pay additional amounts on the Floating Rate Notes as described under the heading “Payment of Additional Amounts” in
the form of the Floating Rate Note incorporated herein by reference (such amounts, the “Additional Amounts”). 

    	4

    	

    

At least 10 days prior to the first
Interest Payment Date and at least 10 days prior to each date of payment of principal of or interest on the Floating Rate Notes
if there has been a change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company
shall furnish to the Trustee and the Paying Agent an Officer’s Certificate instructing the Trustee and the Paying Agent whether
such payment of principal of or interest on the Floating Rate Notes shall be made to Holders thereof without withholding or deduction
for or on account of any taxes described under the heading “Payment of Additional Amounts” in the form of Floating
Rate Note incorporated herein by reference. If any such withholding or deduction shall be required, then such Officer’s Certificate
shall specify by country the amount, if any, required to be withheld or deducted on such payments to such Holders and shall certify
the fact that Additional Amounts will be payable and the amounts so payable to each Holder, and the Company shall pay to the Trustee
or the Paying Agent the Additional Amounts required to be paid under the Floating Rate Notes.

 

Whenever in the Floating Rate Notes
there is mentioned, in any context, the payment of the principal of or interest or any other amounts on, or in respect of, the
Floating Rate Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in
such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms hereof, and express mention
of the payment of Additional Amounts in any provision of the Floating Rate Notes shall not be construed as excluding the payment
of Additional Amounts in those provisions thereof where such express mention is not made.

 

Solely with respect to the Floating
Rate Notes, clause 2(A)(iii) of the eight paragraph of Section 305 of the Indenture shall be deleted in its entirety.

 

2023 Notes 

(1)          the title of the 2023 Notes
shall be the “1.250% Notes due 2023.”

 

(2)          the
aggregate principal amount of 2023 Notes which may be authenticated and delivered under the Indenture shall be limited to
€1,250,000,000 (except as provided in Section 301(2) of the Indenture); provided, however, that such authorized
aggregate principal amount may from time to time be increased above such amount by a Board Resolution to such effect; and
provided further, that additional 2023 Notes may not be issued under the same ISIN and/or any other identifying number unless
such additional 2023 Notes and the original 2023 Notes are fungible for U.S. federal income tax purposes;

 

(3)          the date on which the principal
of the 2023 Notes shall be payable shall be May 26, 2023;

 

(4)          the
2023 Notes shall bear interest at the rate of 1.250% per annum. Interest shall accrue from the original issue date of the 2023
Notes. The Interest 

    	5

    	

    

Payment Date on which such interest will be payable
shall be May 26 of each year, commencing on May 26, 2016. The Regular Record Date for the determination of Holders to whom interest
is payable on any such Interest Payment Date shall be the 15th calendar day (whether or not a Business Day, as defined
below) immediately preceding the related Interest Payment Date, or if the 2023 Notes are represented by one or more global securities,
the close of business on the business day (for this purpose a day on which Euroclear and Clearstream are open for business) immediately
preceding the Interest Payment Date; provided, however, that interest payable on the Stated Maturity Date or any Redemption Date
shall be payable to the Person to whom the principal of such 2023 Notes shall be paid; interest on the 2023 Notes will be computed
on the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from
and including the last date on which interest was paid or duly provided for (or from and including the original issue date of the
2023 Notes, if no interest has been paid or duly provided for with respect to the 2023 Note), to, but excluding, the next scheduled
Interest Payment Date, Redemption Date or Maturity Date, as the case may be. This payment convention is referred to as ACTUAL/ACTUAL
(ICMA) as defined in the rulebook of the International Capital Market Association. Interest payable on any Interest Payment Date,
Redemption Date or Maturity Date shall be the amount of interest accrued from, and including, the next preceding Interest Payment
Date in respect of which interest has been paid or duly provided for (or from and including the original issue date of the 2023
Notes, if no interest has been paid or duly provided for with respect to the 2023 Notes) to, but excluding, such Interest Payment
Date, Redemption Date or Maturity Date, as the case may be;

 

(5)          payment of the principal of
and any premium and interest on the 2023 Notes shall be made at the office or agency of the Company maintained for that purpose
in the City of London, England, which shall be initially the corporate trust office of The Bank of New York Mellon (London Branch),
located at One Canada Square, London E14 5AL; provided, however, that at the option of the Company payments of interest may be
made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register; provided
further, that all payments of principal, premium, if any, and interest with respect to the 2023 Notes represented by one or more
Global Securities deposited with, or on behalf of, a common depositary, and registered in the name of the nominee of the common
depositary for the accounts of Clearstream and Euroclear shall be made through the facilities of the common depositary; the Company
undertakes to maintain a paying agent in a member state of the European Union that, to the extent permitted by law, will not be
obliged to withhold or deduct tax pursuant to the European Union Directive 2003/48/EC regarding the taxation of savings income
in relation to the 2023 Notes;

 

(6)          the
2023 Notes may be redeemed pursuant to the terms set forth in the form of the 2023 Note incorporated herein by reference. In connection
with any “make-whole” redemption, the Company shall give the Trustee notice of the related 

    	6

    	

    

Redemption Price promptly after the calculation thereof
and the Trustee shall have no responsibility for such calculation;

 

(7)          not applicable;

 

(8)          the 2023 Notes shall be issuable
in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof;

 

(9)          not applicable;

 

(10)        all payments of interest and
principal on the 2023 Notes, including payments made upon any redemption of the 2023 Notes, will be made in euro. If the euro is
unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company's control or if
the euro is no longer being used by the then member states of the European Monetary Union that have adopted the euro as their currency
or for the settlement of transactions by public institutions of or within the international banking community, then all payments
in respect of the 2023 Notes will be made in United States dollars until the euro is again available to the Company or so used.
The amount payable on any date in euro will be converted into U.S. dollars on the basis of the most recently available “Market
Exchange Rate” for euro, which shall mean the noon buying rate in The City of New York for cable transfers of euros as certified
for customs purposes (or, if not so certified, as otherwise determined) by the United States Federal Reserve Board. The Market
Exchange Rate most recently available on, or prior to, the second Business Day before the relevant determination date will be the
basis for determining the equivalent of euro in the currency of the United States of America for any purpose under the Indenture,
including for purposes of the definition of “Outstanding” in Section 101 of the Indenture. Any payment in respect
of the 2023 Notes so made in U.S. dollars will not constitute an Event of Default under the 2023 Notes or the Indenture. Neither
the Trustee nor the Paying Agent shall have any responsibility for any calculation or conversion in connection with the foregoing;

 

(11)        not applicable;

 

(12)        not applicable;

 

(13)        not applicable;

 

(14)        not applicable;

 

(15)        not applicable;

 

(16)        the
2023 Notes will initially be issued in the form of one or more Global Securities and registered in the name of the nominee of
the common depositary for the accounts of Clearstream and Euroclear. The Bank of New York Mellon (London Branch) shall initially
serve as the Depositary for such Global Securities; 

    	7

    	

    

(17)        not applicable;

 

(18)        not applicable;

 

(19)        not applicable;

 

(20)        not applicable;

 

(21)        not applicable;

 

(22)        the Paying Agent for the 2023
Notes will be The Bank of New York Mellon (London Branch). Notwithstanding the foregoing, upon notice to the Trustee, the Company
may change the Paying Agent;

 

(23)        not applicable;

 

(24)        not applicable;

 

(25)        not applicable;

 

(26)        the Securities may be listed
on the New York Stock Exchange; and

 

(27)        solely with respect to the
2023 Notes, the definition of “Business Day” under Section l01 of the Indenture shall be amended and restated
as follows: “Business Day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions
in The City of New York or London are authorized or required by law or executive order to close and that is a day on which the
Trans-European Automated Real-time Gross Settlement Express Transfer System (the TARGET2 system), or any successor thereto, operates.
Solely with respect to the 2023 Notes, the definition of “Depositary” under Section l01 of the Indenture shall
be amended and restated as follows: “Depositary” means, with respect to the Securities of any series issuable in whole
or in part in the form of one or more Global Securities, a common depositary for the accounts of Clearstream Banking, société
anonyme and Euroclear Bank S.A/N.V.

 

The Company will be obligated to
pay additional amounts on the 2023 Notes as described under the heading “Payment of Additional Amounts” in the form
of the 2023 Note incorporated herein by reference (such amounts, the “Additional Amounts”).

 

At least 10 days prior to the first
Interest Payment Date and at least 10 days prior to each date of payment of principal of or interest on the 2023 Notes if there
has been a change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall
furnish to the Trustee and the Paying Agent an Officer’s Certificate instructing the Trustee and the Paying Agent whether
such payment of principal of or interest on the 2023 Notes shall be made to Holders 

    	8

    	

    

thereof without withholding or deduction for or on
account of any taxes described under the heading “Payment of Additional Amounts” in the form of 2023 Note incorporated
herein by reference. If any such withholding or deduction shall be required, then such Officer’s Certificate shall specify
by country the amount, if any, required to be withheld or deducted on such payments to such Holders and shall certify the fact
that Additional Amounts will be payable and the amounts so payable to each Holder, and the Company shall pay to the Trustee or
the Paying Agent the Additional Amounts required to be paid under the 2023 Notes.

 

Whenever in the 2023 Notes there
is mentioned, in any context, the payment of the principal of or any premium, interest or any other amounts on, or in respect of,
the 2023 Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such
context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms hereof, and express mention
of the payment of Additional Amounts in any provision of the 2023 Notes shall not be construed as excluding the payment of Additional
Amounts in those provisions thereof where such express mention is not made.

 

Solely with respect to the 2023
Notes, clause 2(A)(iii) of the eight paragraph of Section 305 of the Indenture shall be deleted in its entirety.

 

2027 Notes 

(1)          the title of the 2027 Notes
shall be the “1.875% Notes due 2023.”

 

(2)          the aggregate principal amount
of 2027 Notes which may be authenticated and delivered under the Indenture shall be limited to €1,250,000,000 (except as provided
in Section 301(2) of the Indenture); provided, however, that such authorized aggregate principal amount may from time to time be
increased above such amount by a Board Resolution to such effect; and provided further, that additional 2027 Notes may not be issued
under the same ISIN and/or any other identifying number unless such additional 2027 Notes and the original Notes are fungible for
U.S. federal income tax purposes;

 

(3)          the date on which the principal
of the 2027 Notes shall be payable shall be May 28, 2027;

 

(4)          the
2027 Notes shall bear interest at the rate of 1.875% per annum. Interest shall accrue from the original issue date of the 2027
Notes. The Interest Payment Date on which such interest will be payable shall be May 28 of each year, commencing on May 28, 2016.,
The Regular Record Date for the determination of Holders to whom interest is payable on any such Interest Payment Date shall be
the 15th calendar day (whether or not a Business Day, as defined below) immediately preceding the related Interest
Payment Date, or if the 2027 Notes are represented by one or more global securities, the close of business on the business day
(for this purpose a day on which Euroclear and Clearstream are open for business) immediately preceding the Interest Payment Date;
provided, however, that interest 

    	9

    	

    

payable on the Stated Maturity Date or any Redemption
Date shall be payable to the Person to whom the principal of such 2027 Notes shall be paid; interest on the 2027 Notes will be
computed on the basis of the actual number of days in the period for which interest is being calculated and the actual number of
days from and including the last date on which interest was paid or duly provided for (or from and including the original issue
date of the 2027 Notes, if no interest has been paid or duly provided for with respect to the 2027 Notes), to, but excluding, the
next scheduled Interest Payment Date, Redemption Date or Maturity Date, as the case may be. This payment convention is referred
to as ACTUAL/ACTUAL (ICMA) as defined in the rulebook of the International Capital Market Association. Interest payable on any
Interest Payment Date, Redemption Date or Maturity Date shall be the amount of interest accrued from, and including, the next preceding
Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the original issue
date of the 2027 Notes, if no interest has been paid or duly provided for with respect to the 2027 Notes) to, but excluding, such
Interest Payment Date, Redemption Date or Maturity Date, as the case may be;

 

(5)          payment of the principal of
and any premium or interest on the 2027 Notes shall be made at the office or agency of the Company maintained for that purpose
in the City of London, England, which shall be initially the corporate trust office of The Bank of New York Mellon (London Branch),
located at One Canada Square, London E14 5AL; provided, however, that at the option of the Company payments of interest may be
made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register; provided
further, that all payments of principal, premium, if any, and interest with respect to the 2027 Notes represented by one or more
Global Securities deposited with, or on behalf of, a common depositary, and registered in the name of the nominee of the common
depositary for the accounts of Clearstream and Euroclear shall be made through the facilities of the common depositary; the Company
undertakes to maintain a paying agent in a member state of the European Union that, to the extent permitted by law, will not be
obliged to withhold or deduct tax pursuant to the European Union Directive 2003/48/EC regarding the taxation of savings income
in relation to the 2027 Notes;

 

(6)          the 2027 Notes may be redeemed
pursuant to the terms set forth in the form of the 2027 Note incorporated herein by reference. In connection with any “make-whole”
redemption, the Company shall give the Trustee notice of the related Redemption Price promptly after the calculation thereof and
the Trustee shall have no responsibility for such calculation;

 

(7)          not applicable;

 

(8)          the 2027 Notes shall be issuable
in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof;

 

(9)          not
applicable; 

    	10

    	

    

(10)        all payments of interest and
principal on the 2027 Notes, including payments made upon any redemption of the 2027 Notes, will be made in euro. If the euro is
unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company's control or if
the euro is no longer being used by the then member states of the European Monetary Union that have adopted the euro as their currency
or for the settlement of transactions by public institutions of or within the international banking community, then all payments
in respect of the 2027 Notes will be made in United States dollars until the euro is again available to the Company or so used.
The amount payable on any date in euros will be converted into U.S. dollars on the basis of the most recently available “Market
Exchange Rate” for euro, which shall mean the noon buying rate in The City of New York for cable transfers of euros as certified
for customs purposes (or, if not so certified, as otherwise determined) by the United States Federal Reserve Board. The Market
Exchange Rate most recently available on, or prior to, the second Business Day before the relevant determination date will be the
basis for determining the equivalent of euro in the currency of the United States of America for any purpose under the Indenture,
including for purposes of the definition of “Outstanding” in Section 101 of the Indenture. Any payment in respect
of the 2027 Notes so made in U.S. dollars will not constitute an Event of Default under the 2027 Notes or the Indenture. Neither
the Trustee nor the Paying Agent shall have any responsibility for any calculation or conversion in connection with the foregoing;

 

(11)        not applicable;

 

(12)        not applicable;

 

(13)        not applicable;

 

(14)        not applicable;

 

(15)        not applicable;

 

(16)        the 2027 Notes will initially
be issued in the form of one or more Global Securities and registered in the name of the nominee of the common depositary for the
accounts of Clearstream and Euroclear. The Bank of New York Mellon (London Branch) shall initially serve as the Depositary for
such Global Securities;

 

(17)          not applicable;

 

(18)          not applicable;

 

(19)          not applicable;

 

(20)          not applicable;

 

(21)          not
applicable; 

    	11

    	

    

(22)          the Paying Agent for the 2027
Notes will be The Bank of New York Mellon (London Branch). Notwithstanding the foregoing, upon notice to the Trustee, the Company
may change the Paying Agent;

 

(23)        not applicable;

 

(24)        not applicable;

 

(25)        not applicable;

 

(26)        the Securities may be listed
on the New York Stock Exchange; and

 

(27)        solely with respect to the
2027 Notes, the definition of “Business Day” under Section l01 of the Indenture shall be amended and restated
as follows: “Business Day” means any day, other than a Saturday or Sunday, that is not a day on which banking institutions
in The City of New York or London are authorized or required by law or executive order to close and that is a day on which the
Trans-European Automated Real-time Gross Settlement Express Transfer System (the TARGET2 system), or any successor thereto, operates.
Solely with respect to the 2027 Notes, the definition of “Depositary” under Section l01 of the Indenture shall
be amended and restated as follows: “Depositary” means, with respect to the Securities of any series issuable in whole
or in part in the form of one or more Global Securities, a common depositary for the accounts of Clearstream Banking, société
anonyme and Euroclear Bank S.A/N.V.

 

The Company will be obligated to
pay additional amounts on the 2027 Notes as described under the heading “Payment of Additional Amounts” in the form
of the 2027 Note incorporated herein by reference (such amounts, the “Additional Amounts”).

 

At least 10 days prior to the first
Interest Payment Date and at least 10 days prior to each date of payment of principal of or interest on the 2027 Notes if there
has been a change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall
furnish to the Trustee and the Paying Agent an Officer’s Certificate instructing the Trustee and the Paying Agent whether
such payment of principal of or interest on the 2027 Notes shall be made to Holders thereof without withholding or deduction for
or on account of any taxes described under the heading “Payment of Additional Amounts” in the form of 2027 Note incorporated
herein by reference. If any such withholding or deduction shall be required, then such Officer’s Certificate shall specify
by country the amount, if any, required to be withheld or deducted on such payments to such Holders and shall certify the fact
that Additional Amounts will be payable and the amounts so payable to each Holder, and the Company shall pay to the Trustee or
the Paying Agent the Additional Amounts required to be paid under the 2027 Notes. 

    	12

    	

    

Whenever in the 2027 Notes there
is mentioned, in any context, the payment of the principal of or any premium, interest or any other amounts on, or in respect of,
the 2027 Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such
context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms hereof, and express mention
of the payment of Additional Amounts in any provision of the 2027 Notes shall not be construed as excluding the payment of Additional
Amounts in those provisions thereof where such express mention is not made.

 

Solely with respect to the 2027
Notes, clause 2(A)(iii) of the eight paragraph of Section 305 of the Indenture shall be deleted in its entirety.

    	13

    	

    

Officer’s Certificate under Section
102 of the Indenture

 

The undersigned, Daniel C. Janki, the Senior
Vice President and Treasurer of the Company, does hereby certify that:

 

(1)          I
have read the relevant portions of the Indenture, including without limitation the conditions precedent provided for therein relating
to the action proposed to be taken by the Trustee as requested in the Company Order dated the date hereof (the “Company Order”)
and the definitions in the Indenture relating thereto;

 

(2)          I
have read the Board Resolutions and the resolutions of the Funding Committee of the Board of Directors of the Company referred
to above;

 

(3)          I have conferred with other
officers of the Company, have examined such records of the Company and have made such other investigation as I deemed relevant
for purposes of this certificate;

 

(4)          in my opinion, I have made such
examination or investigation as is necessary to enable me to express an informed opinion as to whether or not such conditions have
been complied with;

 

(5)          on the basis of the foregoing,
I am of the opinion that all conditions precedent provided for in the Indenture relating to the action proposed to be taken by
the Trustee as requested in the Company Order have been complied with; and

 

(6)          the
forms and terms of the Notes have been established in conformity with the provisions of the Indenture.

    	 

    	

    

	Very truly yours,	 
	 	 
	/s/ Daniel C. Janki	 
	Name: Daniel C. Janki	 
	Title: Senior Vice President and Treasurer	 

 

[Officer’s Certificate –
Sections  102 and 301 of the Indenture]

    	 

    	

    

ANNEX 1

 

[Form of Floating Rate Note]

    	 

    	

    

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V., AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”), AND CLEARSTREAM
BANKING, SOCIÉTÉ ANONYME, LUXEMBOURG (“CLEARSTREAM” AND, TOGETHER WITH EUROCLEAR,
“EUROCLEAR/CLEARSTREAM”) , TO GENERAL ELECTRIC COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO THE
BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
EUROCLEAR/CLEARSTREAM), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL,
INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED, HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES 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 OR BY
A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GENERAL ELECTRIC COMPANY

 

Floating Rate Note due 2020

 

	No. 1	€650,000,000

CUSIP No. 369604 BJ1

ISIN No. XS1238900515

Common Code No. 123890051

 

General Electric Company, a corporation
duly organized and existing under the laws of the State of New York (herein called the “Company”, which term includes
any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to The Bank of New
York Depository (Nominees) Limited, as nominee of The Bank of New York Mellon (London Branch) as common depositary for Euroclear
Bank, S.A./N.V. (“Euroclear”), and Clearstream Banking, société anonyme (“Clearstream”),
or registered assigns, the principal sum of SIX HUNDRED FIFTY MILLION EUROS (€650,000,000) on May 28, 2020 (the “Stated
Maturity”), and to pay interest thereon from May 28, 2015 or from and including the most recent Interest Payment Date to
which interest has been paid or duly provided for, quarterly in arrears on February 28, May 28, August 28 and November 28 in each
year, commencing

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August 28, 2015 (each such date, an “Interest Payment
Date”), at the rate of EURIBOR plus 30 basis points (0.300%) per annum, until the principal hereof is paid or made available
for payment. The amount of interest payable for any period shall be computed on the basis of a 360-day year and the actual number
of days in the period for which interest is being calculated. In the event that any Interest Payment Date is not a Business Day,
then such Interest Payment Date will be postponed to the next succeeding day which is a Business Day and interest will accrue to
but excluding such Interest Payment Date, except that if such Business Day falls in the next succeeding calendar month, the applicable
Interest Payment Date will be the immediately preceding Business Day. Notwithstanding the foregoing, if the Stated Maturity or
any Redemption Date with respect to this Security falls on a day that is not a Business Day, the payment of principal, and interest,
otherwise payable on such date will be postponed to the next succeeding Business Day, and no interest on such payment will accrue
from and after the Stated Maturity or earlier Redemption Date, as applicable. The rights of Holders of beneficial interests in
this Security to receive the payments of interest on such Security are subject to the applicable procedures of Euroclear and Clearstream.
The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture,
be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest immediately preceding such Interest Payment Date, provided that interest payable at
the Stated Maturity of the principal hereof or on a Redemption Date shall be payable to the Person to whom the principal of this
Security is payable. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder
on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee,
notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date,
or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated
quotation system on which the Securities of this series may be listed or traded, and upon such notice as may be required by such
exchange or automated quotation system, all as more fully provided in said Indenture.

 

As set forth herein, the Company will pay
additional amounts on this Security in certain circumstances.

 

A “Business Day” shall mean any
day, other than a Saturday or Sunday, (i) which is not a day on which banking institutions in the City of New York or London are
authorized or required by law or executive order to close and (ii) on which the Trans-European Automated Real-time Gross Settlement
Express Transfer system, or the TARGET2 system, or any successor thereto, operates.

 

The “Depositary” with respect
to this Security shall mean a common depositary for the accounts of Clearstream and Euroclear.

 

The “Place of Payment” with respect to this Security
shall be London, England.

 

A “Regular Record Date” means,
with respect to any Interest Payment Date, the 15th calendar day preceding such Interest Payment Date (whether or not
a Business Day) or, if this

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Security is represented by one or more Global Securities, the
close of business on the business day (for this purpose a day on which Clearstream and Euroclear are open for business), in each
case, immediately preceding such Interest Payment Date.

 

Payment of the principal of and interest
on this Security will be made at the office or agency of the Company maintained for that purpose in the City of London, England,
which shall be initially the corporate trust office of The Bank of New York Mellon (London Branch), located at One Canada Square,
London E14 5AL; provided, however, that at the option of the Company payments of interest may be made by check mailed to
the address of the Person entitled thereto as such address shall appear in the Security Register; provided further, that
all payments of principal and interest with respect to the Securities of this series represented by one or more Global Securities
deposited with, or on behalf of, a common depositary, and registered in the name of the nominee of the common depositary for the
accounts of Clearstream and Euroclear shall be made through the facilities of the common depositary.

 

All payments on this Security will be made
in euro; provided, that if on or after May 20, 2015, the euro is unavailable to the Company due to the imposition of exchange
controls or other circumstances beyond the Company’s control or if the euro is no longer being used by the then member states
of the European Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions
of or within the international banking community, then all payments in respect of this Security will be made in United States dollars
until the euro is again available to the Company or so used. The amount payable on any date in euro will be converted into U.S.
dollars on the basis of the most recently available “Market Exchange Rate” for euro, which shall mean the noon buying
rate in The City of New York for cable transfers of euros as certified for customs purposes (or, if not so certified, as otherwise
determined) by the United States Federal Reserve Board. The Market Exchange Rate most recently available on, or prior to, the second
Business Day before the relevant determination date will be the basis for determining the equivalent of euro in the currency of
the United States of America for any purpose under the Indenture, including for purposes of the definition of “Outstanding”
in Section 101 of the Indenture. Any payment in respect of this Security so made in United States dollars will not constitute an
Event of Default under this Security or the Indenture. Neither the Trustee nor the Paying Agent shall have any responsibility for
any calculation or conversion in connection with the foregoing.

 

A “TARGET System Day” is any
day in which the TARGET2 System, or any successor thereto, is open for business and a day on which commercial banks are open for
dealings in euro deposits in the London interbank market. With respect to Securities of this series in certificated form, the reference
to “Business Day” will also mean a day on which banking institutions generally are open for business in the location
of each office of a transfer agent, but only with respect to a payment or other action to occur at that office.

 

“Calculation Agent” means The
Bank of New York Mellon, London Branch, as appointed and authorized by the Company pursuant to the paying and calculation agency
agreement dated on or around May 28, 2015, until such time as the Company appoints a successor Calculation Agent. The Calculation
Agent will determine EURIBOR for each Interest Period on the second TARGET System Day prior to the first day of such Interest
Period (the “Interest Determination Date”).

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“euro and “€” means
the lawful currency of the member states of the European Monetary Union that have adopted or that adopt the single currency in
accordance with the treaty establishing the European Community, as amended by the Treaty on European Union.

 

The interest rate on this Security will be
reset quarterly on February 28, May 28, August 28, and November 28, beginning on August 28, 2015 (each an “Interest Reset
Date”). However, if any Interest Reset Date would otherwise be a day that is not a Business Day, such Interest Reset Date
will be the next succeeding day that is a Business Day, except that if the next succeeding Business Day falls in the next succeeding
calendar month, the applicable Interest Reset Date will be the immediately preceding Business Day.

 

The initial interest period will be the period
from and including May 28, 2015 to but excluding the first Interest Reset Date. The interest rate in effect during the initial
interest period will be equal to EURIBOR plus 30 basis points (0.300%), determined two TARGET System Days prior to May 28, 2015.

 

After the initial interest period, the interest
periods will be the periods from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset
Date, except that the final interest period will be the period from and including the Interest Reset Date immediately preceding
the Stated Maturity to but excluding the Stated Maturity (each an “Interest Period”). The interest rate per annum for
this Security in any Interest Period will be equal to EURIBOR plus 30 basis points (0.300%) (the “Interest Rate”),
as determined by the Calculation Agent. The Interest Rate in effect for the 15 calendar days prior to any Redemption Date earlier
than the Stated Maturity will be the Interest Rate in effect on the fifteenth calendar day preceding such earlier Redemption Date.
The Interest Rate on the Securities of this series will be limited to the maximum rate permitted by New York law, as the same may
be modified by United States law of general application and shall not be less than 0.000%.

 

“EURIBOR,” with respect to any
Interest Determination Date, will be the offered rate for deposits of euros having a maturity of three months that appears on
“Reuters Page EURIBOR 01” at approximately 11:00 a.m., Brussels time, on such Interest Determination Date. If on an
Interest Determination Date, such rate does not appear on the “Reuters Page EURIBOR 01” as of 11:00 a.m., Brussels
time, or if “Reuters Page EURIBOR 01” is not available on such date, the Calculation Agent will obtain such rate from
Bloomberg L.P.’s page “BBAM.” If no offered rate appears on “Reuters Page EURIBOR 01” or Bloomberg
L.P.’s page “BBAM” on an Interest Determination Date, EURIBOR will be determined for such Interest Determination
Date on the basis of the rates at approximately 11:00 a.m., Brussels time, on such Interest Determination Date at which deposits
in euros are offered to prime banks in the euro-zone inter-bank market by the principal euro-zone office of each of four major
banks in such market selected and identified by the Company (the “Reference Banks”), for a term of three months commencing
on the applicable Interest Reset Date and in a principal amount of not less than €1,000,000 that is representative for a
single transaction in euros in such market at such time. The Company will ensure the Calculation Agent is provided with the complete
contact details of the relevant personnel at each of the Reference Banks that it will be required to contact in order to obtain
the relevant Interest Rate. The Calculation Agent will request the principal euro-zone office of each of such banks to provide
a quotation of its rate. If at least two such quotations are provided, EURIBOR for the related Interest Period will be the arithmetic
mean (rounded upwards) of such

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quotations. If fewer than two such quotations are provided,
EURIBOR for such Interest Period will be the arithmetic mean (rounded upwards) of the rates quoted at approximately 11:00 a.m.,
Brussels time, on such Interest Determination Date by three major banks in the euro- zone, selected and identified by the Company,
for loans in euros to leading European banks, for a term of three months, commencing on the applicable Interest Reset Date and
in a principal amount of not less than €1,000,000 that is representative for a single transaction in such market at such time;
provided, however, that if the banks so selected are not quoting as mentioned above, the then-existing EURIBOR rate will
remain in effect for such Interest Period, or, if none, the Interest Rate will be the initial interest rate.

 

All percentages resulting from any calculation
of any Interest Rate for the Securities of this series will be rounded, if necessary, to the nearest one hundred thousandth of
a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) would be rounded
to 9.87655% (or .0987655)), and all euro amounts will be rounded to the nearest cent, with one-half cent being rounded upward.
The amount of interest payable in respect of each Security of this series will be calculated by applying the applicable Interest
Rate for such Interest Period to the outstanding principal amount of such Securities, multiplying the product by the actual number
of days in the related Interest Period and dividing by 360. Each calculation of the Interest Rate on the Securities of this series
by the Calculation Agent will (in the absence of manifest error) be final and binding on the Company, the Trustee and the Holders
of the Securities of this series. Upon the request of any Holder of the Securities of this series, the Calculation Agent will provide
the Interest Rate then in effect and, if determined, the Interest Rate that will become effective on the next Interest Reset Date.

 

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

 

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

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IN WITNESS WHEREOF, the Company has caused
this instrument to be duly executed.

 

Dated: May 28, 2015

 

	 	GENERAL ELECTRIC COMPANY	 
	 	 	 	 	 
	 	By:	 	 	 
	 	Name: 	Daniel C. Janki	 
	 	Title:	 Senior Vice President and Treasurer	 

 

	Attest:	 
	 	 
	Name: Aun Singapore
	Title:   Attesting Secretary

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FORM OF REVERSE OF SECURITY

 

This Security is one of a duly authorized
issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series
under an Indenture, dated as of October 9, 2012 (herein called the “Indenture”, which term shall have the meaning assigned
to it in such instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”,
which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and
delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to €650,000,000;
provided, however, that the authorized aggregate principal amount of the Securities of this series may be increased above
such amount by a Board Resolution to such effect; provided further, that additional Securities of this series may not be
issued under the same ISIN number and/or any other identifying number unless such additional Securities and the original Securities
of this series are fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this
series will rank equally and ratably with this series in all respects, or in all respects except for the payment of interest accruing
prior to the issue date or except for the first payment of interest following the issue date of those additional Securities.

 

Payment of Additional Amounts

 

Subject to the exceptions and limitations
set forth below, the Company shall pay to or on account of a beneficial owner of a Security of this series who is not a United
States Person (as defined below) such additional amounts as may be necessary to ensure that every net payment of the principal
of and interest on the Securities of this series, after withholding or deduction for or on account of any present or future tax,
assessment or other governmental charge imposed upon or as a result of such payment, by the United States or any political subdivision
or taxing authority of the United States, will not be less than the amount that would have been payable had no such deduction or
withholding been required; provided, however, that the Company will not pay additional amounts for or on account of:

 

(a) any such tax, assessment or other governmental
charge which would not have been so imposed but for (i) the existence of any present or former connection between the Holder or
beneficial owner of a Security of this series (or between a fiduciary, settlor, beneficiary, member or shareholder of such person,
if such person is an estate, a trust, a partnership or a corporation) and the United States, including, without limitation, such
person (or such fiduciary, settlor, beneficiary, member or shareholder) being or having been a citizen or resident thereof or being
or having been engaged in a trade or business or present therein or having, or having had, a permanent establishment therein or
(ii) the presentation, where required, by the Holder of any such Security for payment on a date more than 15 calendar days after
the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs
later;

 

(b) any estate, inheritance, gift, sales,
transfer or personal property tax or any similar tax, assessment or governmental charge;

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(c) any tax, assessment or other governmental
charge imposed by reason of the Holder or beneficial owner’s past or present status as a personal holding company or foreign
personal holding company or controlled foreign corporation or passive foreign investment company for U.S. federal income tax purposes
or as a corporation which accumulates earnings to avoid United States federal income tax or as a private foundation or other tax-exempt
organisation;

 

(d) any tax, assessment or other governmental
charge which is payable otherwise than by withholding from payments on or in respect of any Security of this series;

 

(e) any tax, assessment or other governmental
charge which would not have been imposed but for the failure to comply with certification, information or other reporting requirements
concerning the nationality, residence or identity of the Holder or beneficial owner of such Security, if such compliance is required
by statute or by regulation of the United States or of any political subdivision or taxing authority thereof or therein as a precondition
to relief or exemption from such tax, assessment or other governmental charge;

 

(f) any tax, assessment or other governmental
charge that would not have been imposed but for a failure by the Holder or beneficial owner (or any financial institution through
which the Holder or beneficial owner holds any Security of this series or through which payment on such Security is made) to comply
with any certification, information, identification, documentation or other reporting requirements (including entering into and
complying with an agreement with the Internal Revenue Service) imposed pursuant to, or complying with any requirements imposed
under an intergovernmental agreement entered into between the United States and the government of another country in order to implement
the requirements of, Sections 1471 through 1474 of the Internal Revenue Code as in effect on the date of issuance of the Securities
of this series or any successor or amended version of these provisions, to the extent such successor or amended version is not
materially more onerous to comply with than these provisions as enacted on such date;

 

(g) any tax, assessment or other governmental
charge imposed by reason of such beneficial owner’s past or present status as the actual or constructive owner of 10% or
more of the total combined voting power of all classes of stock entitled to vote of the Company or as a direct or indirect affiliate
of the Company;

 

(h) any tax, assessment or other governmental
charge required to be deducted or withheld by any Paying Agent from a payment on a Security of this series upon presentation of
such Security, where required, if such payment can be made without such deduction or withholding upon presentation of such Security,
where required, to any other Paying Agent; or

 

(i) any combination of two or more of items
(a), (b), (c), (d), (e), (f), (g) and (h),

 

nor shall additional amounts be paid with
respect to any payment on a Security of this series to a United States Alien Holder who is a fiduciary or partnership or other
than the sole beneficial owner of such payment to the extent such payment would be required by the laws of the United States (or
any political subdivision thereof) to be included in the income, for tax purposes, of a beneficiary or settlor with respect to
such fiduciary or a member of such partnership or a beneficial owner who would not have been entitled to the additional amounts

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had such beneficiary, settlor, member or beneficial owner been
the Holder of such Security. Except as specifically provided above, no payment will be required for any tax, assessment or other
governmental charge imposed by any governmental or political subdivision or taxing authority of or in any government or political
subdivision.

 

As used herein, the term “United States”
means the United States of America, the states of the United States, and the District of Columbia, and the term “United States
Person” means any individual who is a citizen or resident of the United States for United States federal income tax purposes,
a corporation, partnership or other entity created or organized in or under the laws of the United States, any state of the United
States or the District of Columbia, or any estate or trust the income of which is subject to United States federal income taxation
regardless of its source.

 

The term “United States Alien Holder”
means any beneficial owner of a Security of this series that is not, for United States federal income tax purposes, (i) a citizen
or resident of the United States, (ii) a corporation, partnership or other entity created or organised in or under the laws of
the United States or any political subdivision thereof, (iii) an estate whose income is subject to United States federal income
tax regardless of its source, or (iv) a trust if a court within the United States is able to exercise primary supervision over
the administration of the trust and one or more United States Persons have the authority to control all substantial decisions of
the trust or if such trust has a valid election in effect under applicable U.S. Treasury regulations to be treated as a United
States Person.

 

To the extent permitted by law, the Company
will maintain a paying agent in a Member State of the European Union (if any) that will not require withholding or deduction of
tax pursuant to European Council Directive 2003/48/EC on the taxation of savings income or any law implementing or complying with,
or introduced to conform to, such European Council Directive.

 

If, as a result of any change in, or amendment
to, the laws (or any regulations or rulings promulgated under the laws) of the United States or of any political subdivision or
any taxing authority thereof or therein affecting taxation, or any change in, or amendment to, an official position regarding
the application or interpretation of such laws, regulations or rulings, which change or amendment is announced and becomes effective
on or after May 28, 2015, the Company becomes or will become obligated to pay additional amounts as described above under the
heading “Payment of Additional Amounts” with respect to the Securities of this series, then the Company may at any
time at the Company’s option redeem, in whole, but not in part, the Securities of this series on not less than 30 nor more
than 60 days’ prior notice, at a redemption price equal to 100% of their principal amount, together with any accrued and
unpaid interest and additional amounts on the Securities of this series to, but not including, the Redemption Date. If the Company
exercises its option to redeem the Securities of this series pursuant to this paragraph, it shall deliver to the Trustee an Officer’s
Certificate stating that it is entitled to redeem the Securities of this series and an opinion of independent tax counsel to the
effect that the circumstances described in this paragraph exist.

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Unless the Company defaults on the payment
of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the principal amount of this Security
to be redeemed.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof. In the event of redemption of this Security in part only, Section 1103
of the Indenture shall apply, provided that if this Security is represented by one or more Global Securities, beneficial
interests in this Security shall be selected for redemption by Euroclear and Clearstream in accordance with their respective standard
procedures therefor, provided further, however, that no Securities of this series of a principal amount of €100,000 or less
shall be redeemed in part.

 

The Indenture contains provisions for satisfaction
and discharge of the entire indebtedness of this Security upon compliance by the Company with certain conditions set forth in the
Indenture.

 

The Indenture contains provisions for defeasance
at any time of the entire indebtedness of this Security or certain covenants and Events of Default with respect to this Security,
in each case upon compliance with certain conditions set forth in the Indenture. For purposes of the defeasance and covenant defeasance
provisions, German government securities shall be used instead of United States government securities in respect of payments due
in euros on the Securities of this series.

 

If an Event of Default with respect to the
Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and
payable in the manner and with the effect provided in the Indenture.

 

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 all series to be affected under the Indenture at any time by the Company and the Trustee with
the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected,
treated as one class. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive 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 Security shall be conclusive and binding upon such Holder and upon all future Holders
of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

As provided in and subject to the provisions
of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture
or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given
the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not
less than 25% in principal amount of the

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Securities of this series at the time Outstanding shall have
made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee
reasonable indemnity, 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 the Trustee shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or interest hereon on or after
the respective due dates expressed or provided for herein.

 

No reference herein to the Indenture and
no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional,
to pay the principal of and interest on this Security 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 Security is registrable in the Security Register, upon surrender
of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest
on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon
one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount,
will be issued to the designated transferee or transferees. No service charge shall be made for any such registration of transfer
or exchange, but the Company and the Security Registrar may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.

 

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

 

Except in the limited circumstances described
in Section 305 of the Indenture, this Security shall be issued in the form of one or more Global Securities and a common depositary
for the accounts of Euroclear and Clearstream shall be the Depositary for such Global Security or Securities. Clause 2(A)(iii)
of the eighth paragraph of Section 305 of the Indenture shall be inapplicable to this Security.

 

The Securities of this series are issuable
only in registered form without coupons in minimum denominations of €100,000 and any integral multiples of €1,000 in
excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination,
as requested by the Holder surrendering the same.

 

Notices to Holders of the Securities of
this series will be sent by mail or email to the registered Holders, or otherwise in accordance with the procedures of the applicable
depositary.

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

 

THE INDENTURE AND THIS SECURITY SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES
THEREOF.

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CERTIFICATE OF AUTHENTICATION

 

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

 

	Date: May 28, 2015 	 	The Bank of New York Mellon, 

           As Trustee	 
	 	 	 	 	 
	 	 	By: 	 	 
	 	 	 	Authorized Signatory	 

    	 

    	

    

ANNEX 2

 

[Form of 2023 Note]

    	 

    	

    

UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V., AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”), AND CLEARSTREAM
BANKING, SOCIÉTÉ ANONYME, LUXEMBOURG (“CLEARSTREAM” AND, TOGETHER WITH EUROCLEAR, “EUROCLEAR/CLEARSTREAM”)
, TO GENERAL ELECTRIC COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED
IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES)
LIMITED, HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY.
THIS SECURITY IS EXCHANGEABLE FOR SECURITIES 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 OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GENERAL ELECTRIC COMPANY

 

1.250% Note due 2023

 

	No. 1	 €1,250,000,000

 

CUSIP No. 369604 BK8

ISIN No. XS1238901166

Common Code No. 123890116

 

General Electric Company, a corporation
duly organized and existing under the laws of the State of New York (herein called the “Company”, which term includes
any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to The Bank of New
York Depository (Nominees) Limited, as nominee of The Bank of New York Mellon (London Branch) as common depositary for Euroclear
Bank, S.A./N.V. (“Euroclear”), and Clearstream Banking, société anonyme (“Clearstream”),
or registered assigns, the principal sum of ONE BILLION TWO HUNDRED FIFTY MILLION EUROS (€1,250,000,000) on May 26, 2023 (the
“Stated Maturity”), and to pay interest thereon from May 28, 2015 or from and including the most recent Interest Payment
Date to which interest has been paid or duly provided for, annually on May 26 in each year, commencing May 26, 2016 (the “Interest
Payment Date”),

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at the rate of 1.250% per annum, until the principal hereof
is paid or made available for payment. The amount of interest payable for any period shall be computed on the basis of the actual
number of days in the period for which interest is being calculated and the actual number of days from and including the last date
on which interest was paid on this Security (or May 28, 2015 if no interest has been paid on this Security), to but excluding the
next scheduled Interest Payment Date. This payment convention is referred to as ACTUAL/ACTUAL (ICMA) as defined in the rulebook
of the International Capital Market Association. In the event that any date on which interest is payable on this Security is not
a Business Day, then a payment of the interest payable on such date will be made on the next succeeding day which is a Business
Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date
the payment was originally payable. If the Stated Maturity or any Redemption Date with respect to this Security falls on a day
that is not a Business Day, the payment of principal, premium, if any, and interest, will be made on the next succeeding Business
Day as if it were made on the date such payment was due, and no interest will accrue on the amounts so payable for the period from
and after such date to the next succeeding Business Day. The rights of Holders of beneficial interests in this Security to receive
the payments of interest on such Security are subject to the applicable procedures of Euroclear and Clearstream. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to
the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest immediately preceding such Interest Payment Date, provided that interest payable at the Stated Maturity
of the principal hereof or on a Redemption Date shall be payable to the Person to whom the principal of this Security is payable.
Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation
system on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange
or automated quotation system, all as more fully provided in said Indenture.

 

As set forth herein, the Company will pay
additional amounts on this Security in certain circumstances.

 

A “Business Day” shall mean
any day, other than a Saturday or Sunday, (i) which is not a day on which banking institutions in the City of New York or London
are authorized or required by law or executive order to close and (ii) on which the Trans-European Automated Real-time Gross Settlement
Express Transfer system, or the TARGET2 system, or any successor thereto, operates.

 

The “Depositary” with respect
to this Security shall mean a common depositary for the accounts of Clearstream and Euroclear.

 

The “Place of Payment” with respect to this Security
shall be London, England.

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A “Regular Record Date” means, with respect to any
Interest Payment Date, the 15th calendar day preceding such Interest Payment Date (whether or not a Business Day) or,
if this Security is represented by one or more Global Securities, the close of business on the business day (for this purpose a
day on which Clearstream and Euroclear are open for business), in each case, immediately preceding such Interest Payment Date.

 

Payment of the principal of (and premium,
if any) and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the City
of London, England, which shall be initially the corporate trust office of The Bank of New York Mellon (London Branch), located
at One Canada Square, London E14 5AL; provided, however, that at the option of the Company payments of interest may be made
by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register; provided
further, that all payments of principal, premium, if any, and interest with respect to the Securities of this series represented
by one or more Global Securities deposited with, or on behalf of, a common depositary, and registered in the name of the nominee
of the common depositary for the accounts of Clearstream and Euroclear shall be made through the facilities of the common depositary.

 

All payments on this Security will be made
in euro; provided, that if on or after May 20, 2015, the euro is unavailable to the Company due to the imposition of exchange
controls or other circumstances beyond the Company’s control or if the euro is no longer being used by the then member states
of the European Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions
of or within the international banking community, then all payments in respect of this Security will be made in United States dollars
until the euro is again available to the Company or so used. The amount payable on any date in euro will be converted into U.S.
dollars on the basis of the most recently available “Market Exchange Rate” for euro, which shall mean the noon buying
rate in The City of New York for cable transfers of euros as certified for customs purposes (or, if not so certified, as otherwise
determined) by the United States Federal Reserve Board. The Market Exchange Rate most recently available on, or prior to, the second
Business Day before the relevant determination date will be the basis for determining the equivalent of euro in the currency of
the United States of America for any purpose under the Indenture, including for purposes of the definition of “Outstanding”
in Section 101 of the Indenture. Any payment in respect of this Security so made in United States dollars will not constitute an
Event of Default under this Security or the Indenture. Neither the Trustee nor the Paying Agent shall have any responsibility for
any calculation or conversion in connection with the foregoing.

 

“euro and “€” means
the lawful currency of the member states of the European Monetary Union that have adopted or that adopt the single currency in
accordance with the treaty establishing the European Community, as amended by the Treaty on European Union.

 

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

 

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

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IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed.

 

Dated: May 28, 2015

 

	 	GENERAL ELECTRIC COMPANY	 
	 	 	 	 	 
	 	By:	 	 	 
	 	Name:	 Daniel C. Janki	 
	 	Title:	 Senior Vice President and Treasurer	 

 

	Attest:	 
	 	 
	Name: Aun Singapore
	Title:   Attesting Secretary

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FORM OF REVERSE OF SECURITY

 

This Security is one of a duly authorized
issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series
under an Indenture, dated as of October 9, 2012 (herein called the “Indenture”, which term shall have the meaning assigned
to it in such instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”,
which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference
is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and
delivered. This Security is one of the series designated on the face hereof, limited in aggregate principal amount to €1,250,000,000;
provided, however, that the authorized aggregate principal amount of the Securities of this series may be increased above
such amount by a Board Resolution to such effect; provided further, that additional Securities of this series may not be
issued under the same ISIN number and/or any other identifying number unless such additional Securities and the original Securities
of this series are fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this
series will rank equally and ratably with this series in all respects, or in all respects except for the payment of interest accruing
prior to the issue date or except for the first payment of interest following the issue date of those additional Securities.

 

Payment of Additional Amounts

 

Subject to the exceptions and limitations
set forth below, the Company shall pay to or on account of a beneficial owner of a Security of this series who is not a United
States Person (as defined below) such additional amounts as may be necessary to ensure that every net payment of the principal
of and interest on the Securities of this series, after withholding or deduction for or on account of any present or future tax,
assessment or other governmental charge imposed upon or as a result of such payment, by the United States or any political subdivision
or taxing authority of the United States, will not be less than the amount that would have been payable had no such deduction or
withholding been required; provided, however, that the Company will not pay additional amounts for or on account of:

 

(a)
any such tax, assessment or other governmental charge which would not have been so imposed but for (i) the existence of any present
or former connection between the Holder or beneficial owner of a Security of this series (or between a fiduciary, settlor, beneficiary,
member or shareholder of such person, if such person is an estate, a trust, a partnership or a corporation) and the United States,
including, without limitation, such person (or such fiduciary, settlor, beneficiary, member or shareholder) being or having been
a citizen or resident thereof or being or having been engaged in a trade or business or present therein or having, or having had,
a permanent establishment therein or (ii) the presentation, where required, by the Holder of any such Security for payment on a
date more than 15 calendar days after the date on which such payment became due and payable or the date on which payment thereof
is duly provided for, whichever occurs later;

 

(b) any estate, inheritance, gift, sales, transfer or personal property tax or any
similar tax, assessment or governmental charge;

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(c) any tax, assessment or other governmental charge imposed
by reason of the Holder or beneficial owner’s past or present status as a personal holding company or foreign personal holding
company or controlled foreign corporation or passive foreign investment company for U.S. federal income tax purposes or as a corporation
which accumulates earnings to avoid United States federal income tax or as a private foundation or other tax-exempt organisation;

 

(d) any tax, assessment or other governmental charge which is
payable otherwise than by withholding from payments on or in respect of any Security of this series;

 

(e) any tax, assessment or other governmental charge which would
not have been imposed but for the failure to comply with certification, information or other reporting requirements concerning
the nationality, residence or identity of the Holder or beneficial owner of such Security, if such compliance is required by statute
or by regulation of the United States or of any political subdivision or taxing authority thereof or therein as a precondition
to relief or exemption from such tax, assessment or other governmental charge;

 

(f) any tax, assessment or other governmental charge that would
not have been imposed but for a failure by the Holder or beneficial owner (or any financial institution through which the Holder
or beneficial owner holds any Security of this series or through which payment on such Security is made) to comply with any certification,
information, identification, documentation or other reporting requirements (including entering into and complying with an agreement
with the Internal Revenue Service) imposed pursuant to, or complying with any requirements imposed under an intergovernmental agreement
entered into between the United States and the government of another country in order to implement the requirements of, Sections
1471 through 1474 of the Internal Revenue Code as in effect on the date of issuance of the Securities of this series or any successor
or amended version of these provisions, to the extent such successor or amended version is not materially more onerous to comply
with than these provisions as enacted on such date;

 

(g) any tax, assessment or other governmental charge imposed
by reason of such beneficial owner’s past or present status as the actual or constructive owner of 10% or more of the total
combined voting power of all classes of stock entitled to vote of the Company or as a direct or indirect affiliate of the Company;

 

(h) any tax, assessment or other governmental charge required
to be deducted or withheld by any Paying Agent from a payment on a Security of this series upon presentation of such Security,
where required, if such payment can be made without such deduction or withholding upon presentation of such Security, where required,
to any other Paying Agent; or

 

(i) any combination of two or more of items (a), (b), (c), (d),
(e), (f), (g) and (h),

 

nor shall additional amounts be paid with respect to any payment
on a Security of this series to a United States Alien Holder who is a fiduciary or partnership or other than the sole beneficial
owner of such payment to the extent such payment would be required by the laws of the United States (or any political subdivision
thereof) to be included in the income, for tax purposes, of a beneficiary or settlor with respect to such fiduciary or a member
of such partnership or a beneficial owner who would not have been entitled to the additional amounts

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had such beneficiary, settlor, member or beneficial owner been
the Holder of such Security. Except as specifically provided above, no payment will be required for any tax, assessment or other
governmental charge imposed by any governmental or political subdivision or taxing authority of or in any government or political
subdivision.

 

As used herein, the term “United States”
means the United States of America, the states of the United States, and the District of Columbia, and the term “United States
Person” means any individual who is a citizen or resident of the United States for United States federal income tax purposes,
a corporation, partnership or other entity created or organized in or under the laws of the United States, any state of the United
States or the District of Columbia, or any estate or trust the income of which is subject to United States federal income taxation
regardless of its source.

 

The term “United States Alien Holder”
means any beneficial owner of a Security of this series that is not, for United States federal income tax purposes, (i) a citizen
or resident of the United States, (ii) a corporation, partnership or other entity created or organised in or under the laws of
the United States or any political subdivision thereof, (iii) an estate whose income is subject to United States federal income
tax regardless of its source, or (iv) a trust if a court within the United States is able to exercise primary supervision over
the administration of the trust and one or more United States Persons have the authority to control all substantial decisions of
the trust or if such trust has a valid election in effect under applicable U.S. Treasury regulations to be treated as a United
States Person.

 

To the extent permitted by law, the Company
will maintain a paying agent in a Member State of the European Union (if any) that will not require withholding or deduction of
tax pursuant to European Council Directive 2003/48/EC on the taxation of savings income or any law implementing or complying with,
or introduced to conform to, such European Council Directive.

 

The Securities of this series are subject
to redemption upon not less than 30 days’, but not more than 60 days’, notice by first-class mail (or otherwise transmitted
in accordance with the applicable procedures of Euroclear or Clearstream), as a whole or in part, at the election of the Company
at any time, (A) if prior to February 26, 2023, at a redemption price equal to the greater of (1) 100% of the principal amount
of the Securities of this series to be redeemed; and (2) the sum of the present values of the Remaining Scheduled Payments (as
defined below) of interest and principal thereon (not including any portion of such payments of interest accrued as of the Redemption
Date) discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the applicable Comparable Government Bond
Rate (as defined below), plus 15 basis points; plus, in each case, accrued and unpaid interest to, but not including, the Redemption
Date, and (B) if on or after February 26, 2023 at a redemption price equal to 100% of the principal amount of the Securities of
this series being redeemed on the Redemption Date, plus accrued and unpaid interest, if any, on the Securities of this series to,
but not including, the Redemption Date.

 

“Comparable Government Bond Rate” means the yield
to maturity, expressed as a percentage (rounded to three decimal places, with 0.0005 being rounded upwards), on the third Business
Day prior to the Redemption Date, of the Comparable Government Bond (as defined

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below) on the basis of the middle market price of the Comparable
Government Bond prevailing at 11:00 a.m. (London time) on such Business Day as determined by an independent investment bank selected
by the Company.

 

“Comparable Government Bond”
means, in relation to any Comparable Government Bond Rate calculation, at the discretion of an independent investment bank selected
by the Company, a German government bond whose maturity is closest to the maturity of the Securities of this series to be redeemed,
or if such independent investment bank in its discretion determines that such similar bond is not in issue, such other German government
bond as such independent investment bank may, with the advice of three brokers of, and/or market makers in, German government bonds
selected by the Company, determine to be appropriate for determining the Comparable Government Bond Rate.

 

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

 

If, as a result of any change in, or amendment
to, the laws (or any regulations or rulings promulgated under the laws) of the United States or of any political subdivision or
any taxing authority thereof or therein affecting taxation, or any change in, or amendment to, an official position regarding the
application or interpretation of such laws, regulations or rulings, which change or amendment is announced and becomes effective
on or after May 28, 2015, the Company becomes or will become obligated to pay additional amounts as described above under the heading
“Payment of Additional Amounts” with respect to the Securities of this series, then the Company may at any time at
the Company’s option redeem, in whole, but not in part, the Securities of this series on not less than 30 nor more than 60
days’ prior notice, at a redemption price equal to 100% of their principal amount, together with any accrued and unpaid interest
and additional amounts on the Securities of this series to, but not including, the Redemption Date. If the Company exercises its
option to redeem the Securities of this series pursuant to this paragraph, it shall deliver to the Trustee an Officer’s Certificate
stating that it is entitled to redeem the Securities of this series and an opinion of independent tax counsel to the effect that
the circumstances described in this paragraph exist.

 

Unless the Company defaults on the payment
of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the principal amount of this Security
to be redeemed.

 

In the event of redemption of this Security
in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof. In the event of redemption of this Security in part only, Section 1103
of the Indenture shall apply, provided that if this Security is represented by one or more Global Securities, beneficial
interests in this Security shall be selected for redemption by Euroclear and Clearstream in accordance with their respective standard

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procedures therefor, provided further, however, that no Securities
of this series of a principal amount of €100,000 or less shall be redeemed in part.

 

The Indenture contains provisions for satisfaction
and discharge of the entire indebtedness of this Security upon compliance by the Company with certain conditions set forth in the
Indenture.

 

The Indenture contains provisions for defeasance
at any time of the entire indebtedness of this Security or certain covenants and Events of Default with respect to this Security,
in each case upon compliance with certain conditions set forth in the Indenture. For purposes of the defeasance and covenant defeasance
provisions, German government securities shall be used instead of United States government securities in respect of payments due
in euros on the Securities of this series.

 

If an Event of Default with respect to the
Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and
payable in the manner and with the effect provided in the Indenture.

 

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 all series to be affected under the Indenture at any time by the Company and the Trustee with
the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected,
treated as one class. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive 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 Security shall be conclusive and binding upon such Holder and upon all future Holders
of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

As provided in and subject to the provisions
of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture
or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given
the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less
than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee
to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, 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 the Trustee shall have failed to institute any such proceeding, for 60 days after
receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this
Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due
dates expressed or provided for herein.

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No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any premium and interest on this Security 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 Security is registrable in the Security Register, upon surrender
of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any
premium and interest on this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees. No service charge shall be made for any such registration
of transfer or exchange, but the Company and the Security Registrar may require payment of a sum sufficient to cover any tax or
other governmental charge payable in connection therewith.

 

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

 

Except in the limited circumstances described
in Section 305 of the Indenture, this Security shall be issued in the form of one or more Global Securities and a common depositary
for the accounts of Euroclear and Clearstream shall be the Depositary for such Global Security or Securities. Clause 2(A)(iii)
of the eighth paragraph of Section 305 of the Indenture shall be inapplicable to this Security.

 

The Securities of this series are issuable
only in registered form without coupons in minimum denominations of €100,000 and any integral multiples of €1,000 in
excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination,
as requested by the Holder surrendering the same.

 

Notices to Holders of the Securities of
this series will be sent by mail or email to the registered Holders, or otherwise in accordance with the procedures of the applicable
depositary.

 

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

 

THE INDENTURE AND THIS SECURITY SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.

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CERTIFICATE OF AUTHENTICATION

 

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

 

	Date: May 28, 2015	The Bank of New York Mellon,	 
	 	As Trustee	 
	 	 	 	 
	 	By: 	 	 
	 	 	Authorized Signatory	 

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ANNEX 3

 

[Form of 2027 Note]

    	 

    	

    

UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V., AS OPERATOR OF THE EUROCLEAR SYSTEM (“EUROCLEAR”), AND
CLEARSTREAM BANKING, SOCIÉTÉ ANONYME, LUXEMBOURG (“CLEARSTREAM” AND, TOGETHER WITH EUROCLEAR, “EUROCLEAR/CLEARSTREAM”)
, TO GENERAL ELECTRIC COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED
IN THE NAME OF THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO THE BANK OF NEW YORK DEPOSITORY (NOMINEES) LIMITED OR TO SUCH OTHER ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, THE BANK OF NEW YORK DEPOSITORY (NOMINEES)
LIMITED, HAS AN INTEREST HEREIN.

 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS
EXCHANGEABLE FOR SECURITIES 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 OR BY
A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY.

 

GENERAL ELECTRIC COMPANY

 

1.875% Note due 2027

 

	No. 1	€1,250,000,000

 

CUSIP No. 369604 BL6

ISIN No. XS1238902057

Common Code No. 123890205

 

General Electric Company, a corporation duly organized and existing under the laws of the State of New
York (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred
to), for value received, hereby promises to pay to The Bank of New York Depository (Nominees) Limited, as nominee of The Bank of
New York Mellon (London Branch) as common depositary for Euroclear Bank, S.A./N.V. (“Euroclear”), and Clearstream Banking,
société anonyme (“Clearstream”), or registered assigns, the principal sum of ONE BILLION TWO HUNDRED
FIFTY MILLION EUROS (€1,250,000,000) on May 28, 2027 (the “Stated Maturity”), and to pay interest thereon from
May 28, 2015 or from and including the most recent Interest Payment Date to which interest has been paid or duly provided for,
annually on May 28 in each year, commencing May 28, 2016 (the “Interest Payment Date”),

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at the rate of 1.875% per annum, until the principal hereof
is paid or made available for payment. The amount of interest payable for any period shall be computed on the basis of the actual
number of days in the period for which interest is being calculated and the actual number of days from and including the last date
on which interest was paid on this Security (or May 28, 2015 if no interest has been paid on this Security), to but excluding the
next scheduled Interest Payment Date. This payment convention is referred to as ACTUAL/ACTUAL (ICMA) as defined in the rulebook
of the International Capital Market Association. In the event that any date on which interest is payable on this Security is not
a Business Day, then a payment of the interest payable on such date will be made on the next succeeding day which is a Business
Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date
the payment was originally payable. If the Stated Maturity or any Redemption Date with respect to this Security falls on a day
that is not a Business Day, the payment of principal, premium, if any, and interest, will be made on the next succeeding Business
Day as if it were made on the date such payment was due, and no interest will accrue on the amounts so payable for the period from
and after such date to the next succeeding Business Day. The rights of Holders of beneficial interests in this Security to receive
the payments of interest on such Security are subject to the applicable procedures of Euroclear and Clearstream. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to
the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest immediately preceding such Interest Payment Date, provided that interest payable at the Stated Maturity
of the principal hereof or on a Redemption Date shall be payable to the Person to whom the principal of this Security is payable.
Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation
system on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange
or automated quotation system, all as more fully provided in said Indenture.

 

As set forth herein, the Company will pay additional amounts
on this Security in certain circumstances.

 

A “Business Day” shall mean any day, other than
a Saturday or Sunday, (i) which is not a day on which banking institutions in the City of New York or London are authorized or
required by law or executive order to close and (ii) on which the Trans-European Automated Real-time Gross Settlement Express Transfer
system, or the TARGET2 system, or any successor thereto, operates.

 

The “Depositary” with respect to this Security shall
mean a common depositary for the accounts of Clearstream and Euroclear.

 

The “Place of Payment” with respect to this Security
shall be London, England.

    	2

    	

    

A “Regular Record Date” means, with respect to any
Interest Payment Date, the 15th calendar day preceding such Interest Payment Date (whether or not a Business Day) or,
if this Security is represented by one or more Global Securities, the close of business on the business day (for this purpose a
day on which Clearstream and Euroclear are open for business), in each case, immediately preceding such Interest Payment Date.

 

Payment of the principal of (and premium, if any) and interest
on this Security will be made at the office or agency of the Company maintained for that purpose in the City of London, England,
which shall be initially the corporate trust office of The Bank of New York Mellon (London Branch), located at One Canada Square,
London E14 5AL; provided, however, that at the option of the Company payments of interest may be made by check mailed to
the address of the Person entitled thereto as such address shall appear in the Security Register; provided further, that
all payments of principal, premium, if any, and interest with respect to the Securities of this series represented by one or more
Global Securities deposited with, or on behalf of, a common depositary, and registered in the name of the nominee of the common
depositary for the accounts of Clearstream and Euroclear shall be made through the facilities of the common depositary.

 

All payments on this Security will be made in euro; provided,
that if on or after May 20, 2015, the euro is unavailable to the Company due to the imposition of exchange controls or other circumstances
beyond the Company’s control or if the euro is no longer being used by the then member states of the European Monetary Union
that have adopted the euro as their currency or for the settlement of transactions by public institutions of or within the international
banking community, then all payments in respect of this Security will be made in United States dollars until the euro is again
available to the Company or so used. The amount payable on any date in euro will be converted into U.S. dollars on the basis of
the most recently available “Market Exchange Rate” for euro, which shall mean the noon buying rate in The City of New
York for cable transfers of euros as certified for customs purposes (or, if not so certified, as otherwise determined) by the United
States Federal Reserve Board. The Market Exchange Rate most recently available on, or prior to, the second Business Day before
the relevant determination date will be the basis for determining the equivalent of euro in the currency of the United States of
America for any purpose under the Indenture, including for purposes of the definition of “Outstanding” in Section 101
of the Indenture. Any payment in respect of this Security so made in United States dollars will not constitute an Event of Default
under this Security or the Indenture. Neither the Trustee nor the Paying Agent shall have any responsibility for any calculation
or conversion in connection with the foregoing.

 

“euro and “€” means the lawful currency
of the member states of the European Monetary Union that have adopted or that adopt the single currency in accordance with the
treaty establishing the European Community, as amended by the Treaty on European Union.

 

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

 

Unless the certificate of authentication hereon has been executed
by the Trustee referred to on the reverse hereof by manual signature, this Security 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.

 

Dated: May 28, 2015

 

	 	GENERAL ELECTRIC COMPANY	 
	 	 	 	 	 	 
	 	By:	 	 	 
	 	Name:	 Daniel C. Janki	 
	 	Title:	 Senior Vice President and Treasurer	 

	 	 
	Attest:

                                                                                 
	 
	Name: Aun Singapore
	Title:   Attesting Secretary 

    	4

    	

    

FORM OF REVERSE OF SECURITY

 

This Security is one of a duly authorized issue of securities
of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture,
dated as of October 9, 2012 (herein called the “Indenture”, which term shall have the meaning assigned to it in such
instrument), between the Company and The Bank of New York Mellon, as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby
made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee
and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the face hereof, limited in aggregate principal amount to €1,250,000,000; provided,
however, that the authorized aggregate principal amount of the Securities of this series may be increased above such amount by
a Board Resolution to such effect; provided further, that additional Securities of this series may not be issued under the
same ISIN number and/or any other identifying number unless such additional Securities and the original Securities of this series
are fungible for U.S. federal income tax purposes; and provided further, that additional Securities of this series will
rank equally and ratably with this series in all respects, or in all respects except for the payment of interest accruing prior
to the issue date or except for the first payment of interest following the issue date of those additional Securities.

 

Payment of Additional Amounts

 

Subject to the exceptions and limitations set forth below, the
Company shall pay to or on account of a beneficial owner of a Security of this series who is not a United States Person (as defined
below) such additional amounts as may be necessary to ensure that every net payment of the principal of and interest on the Securities
of this series, after withholding or deduction for or on account of any present or future tax, assessment or other governmental
charge imposed upon or as a result of such payment, by the United States or any political subdivision or taxing authority of the
United States, will not be less than the amount that would have been payable had no such deduction or withholding been required;
provided, however, that the Company will not pay additional amounts for or on account of:

 

(a) any such tax, assessment or
other governmental charge which would not have been so imposed but for (i) the existence of any present or former connection between
the Holder or beneficial owner of a Security of this series (or between a fiduciary, settlor, beneficiary, member or shareholder
of such person, if such person is an estate, a trust, a partnership or a corporation) and the United States, including, without
limitation, such person (or such fiduciary, settlor, beneficiary, member or shareholder) being or having been a citizen or resident
thereof or being or having been engaged in a trade or business or present therein or having, or having had, a permanent establishment
therein or (ii) the presentation, where required, by the Holder of any such Security for payment on a date more than 15 calendar
days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for, whichever
occurs later;

 

(b) any estate, inheritance, gift, sales, transfer or personal property tax or any similar tax, assessment or governmental
charge;

    	5

    	

    

(c) any tax, assessment or other governmental charge imposed
by reason of the Holder or beneficial owner’s past or present status as a personal holding company or foreign personal holding
company or controlled foreign corporation or passive foreign investment company for U.S. federal income tax purposes or as a corporation
which accumulates earnings to avoid United States federal income tax or as a private foundation or other tax-exempt organisation;

 

(d) any tax, assessment or other governmental charge which is payable otherwise than by withholding from payments on or in respect
of any Security of this series;

 

(e) any tax, assessment or other governmental charge which would not have been imposed but for
the failure to comply with certification, information or other reporting requirements concerning the nationality, residence or
identity of the Holder or beneficial owner of such Security, if such compliance is required by statute or by regulation of the
United States or of any political subdivision or taxing authority thereof or therein as a precondition to relief or exemption from
such tax, assessment or other governmental charge;

 

(f) any tax, assessment or other governmental charge that would not have been
imposed but for a failure by the Holder or beneficial owner (or any financial institution through which the Holder or beneficial
owner holds any Security of this series or through which payment on such Security is made) to comply with any certification, information,
identification, documentation or other reporting requirements (including entering into and complying with an agreement with the
Internal Revenue Service) imposed pursuant to, or complying with any requirements imposed under an intergovernmental agreement
entered into between the United States and the government of another country in order to implement the requirements of, Sections
1471 through 1474 of the Internal Revenue Code as in effect on the date of issuance of the Securities of this series or any successor
or amended version of these provisions, to the extent such successor or amended version is not materially more onerous to comply
with than these provisions as enacted on such date;

 

(g) any tax, assessment or other governmental charge imposed by reason of such
beneficial owner’s past or present status as the actual or constructive owner of 10% or more of the total combined voting
power of all classes of stock entitled to vote of the Company or as a direct or indirect affiliate of the Company;

 

(h) any tax,
assessment or other governmental charge required to be deducted or withheld by any Paying Agent from a payment on a Security of
this series upon presentation of such Security, where required, if such payment can be made without such deduction or withholding
upon presentation of such Security, where required, to any other Paying Agent; or

 

(i) any combination of two or more of items (a),
(b), (c), (d), (e), (f), (g) and (h),

 

nor shall additional amounts be paid with respect to any payment on a Security of this series
to a United States Alien Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the
extent such payment would be required by the laws of the United States (or any political subdivision thereof) to be included in
the income, for tax purposes, of a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial
owner who would not have been entitled to the additional amounts

    	6

    	

    

had such beneficiary, settlor, member or beneficial owner been
the Holder of such Security. Except as specifically provided above, no payment will be required for any tax, assessment or other
governmental charge imposed by any governmental or political subdivision or taxing authority of or in any government or political
subdivision.

 

As used herein, the term “United States” means the
United States of America, the states of the United States, and the District of Columbia, and the term “United States Person”
means any individual who is a citizen or resident of the United States for United States federal income tax purposes, a corporation,
partnership or other entity created or organized in or under the laws of the United States, any state of the United States or the
District of Columbia, or any estate or trust the income of which is subject to United States federal income taxation regardless
of its source.

 

The term “United States Alien Holder” means any
beneficial owner of a Security of this series that is not, for United States federal income tax purposes, (i) a citizen or resident
of the United States, (ii) a corporation, partnership or other entity created or organised in or under the laws of the United States
or any political subdivision thereof, (iii) an estate whose income is subject to United States federal income tax regardless of
its source, or (iv) a trust if a court within the United States is able to exercise primary supervision over the administration
of the trust and one or more United States Persons have the authority to control all substantial decisions of the trust or if such
trust has a valid election in effect under applicable U.S. Treasury regulations to be treated as a United States Person.

 

To the extent permitted by law, the Company will maintain a
paying agent in a Member State of the European Union (if any) that will not require withholding or deduction of tax pursuant to
European Council Directive 2003/48/EC on the taxation of savings income or any law implementing or complying with, or introduced
to conform to, such European Council Directive.

 

The Securities of this series are subject to redemption upon
not less than 30 days’, but not more than 60 days’, notice by first-class mail (or otherwise transmitted in accordance
with the applicable procedures of Euroclear or Clearstream), as a whole or in part, at the election of the Company at any time,
(A) if prior to February 28, 2027, at a redemption price equal to the greater of (1) 100% of the principal amount of the Securities
of this series to be redeemed; and (2) the sum of the present values of the Remaining Scheduled Payments (as defined below) of
interest and principal thereon (not including any portion of such payments of interest accrued as of the Redemption Date) discounted
to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the applicable Comparable Government Bond Rate (as defined
below), plus 20 basis points; plus, in each case, accrued and unpaid interest to, but not including, the Redemption Date, and (B)
if on or after February 28, 2027 at a redemption price equal to 100% of the principal amount of the Securities of this series being
redeemed on the Redemption Date, plus accrued and unpaid interest, if any, on the Securities of this series to, but not including,
the Redemption Date.

 

“Comparable Government Bond Rate” means the yield
to maturity, expressed as a percentage (rounded to three decimal places, with 0.0005 being rounded upwards), on the third Business
Day prior to the Redemption Date, of the Comparable Government Bond (as defined

    	7

    	

    

below) on the basis of the middle market price of the Comparable
Government Bond prevailing at 11:00 a.m. (London time) on such Business Day as determined by an independent investment bank selected
by the Company.

 

“Comparable Government Bond” means, in relation
to any Comparable Government Bond Rate calculation, at the discretion of an independent investment bank selected by the Company,
a German government bond whose maturity is closest to the maturity of the Securities of this series to be redeemed, or if such
independent investment bank in its discretion determines that such similar bond is not in issue, such other German government bond
as such independent investment bank may, with the advice of three brokers of, and/or market makers in, German government bonds
selected by the Company, determine to be appropriate for determining the Comparable Government Bond Rate.

 

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

 

If, as a result of any change in, or amendment to, the laws
(or any regulations or rulings promulgated under the laws) of the United States or of any political subdivision or any taxing authority
thereof or therein affecting taxation, or any change in, or amendment to, an official position regarding the application or interpretation
of such laws, regulations or rulings, which change or amendment is announced and becomes effective on or after May 28, 2015, the
Company becomes or will become obligated to pay additional amounts as described above under the heading “Payment of Additional
Amounts” with respect to the Securities of this series, then the Company may at any time at the Company’s option redeem,
in whole, but not in part, the Securities of this series on not less than 30 nor more than 60 days’ prior notice, at a redemption
price equal to 100% of their principal amount, together with any accrued and unpaid interest and additional amounts on the Securities
of this series to, but not including, the Redemption Date. If the Company exercises its option to redeem the Securities of this
series pursuant to this paragraph, it shall deliver to the Trustee an Officer’s Certificate stating that it is entitled to
redeem the Securities of this series and an opinion of independent tax counsel to the effect that the circumstances described in
this paragraph exist.

 

Unless the Company defaults on the payment of the Redemption
Price, on and after the Redemption Date, interest will cease to accrue on the principal amount of this Security to be redeemed.

 

In the event of redemption of this Security in part only, a
new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the
Holder hereof upon the cancellation hereof. In the event of redemption of this Security in part only, Section 1103 of the Indenture
shall apply, provided that if this Security is represented by one or more Global Securities, beneficial interests in this
Security shall be selected for redemption by Euroclear and Clearstream in accordance with their respective standard

    	8

    	

    

procedures therefor, provided further, however, that no Securities
of this series of a principal amount of €100,000 or less shall be redeemed in part.

 

The Indenture contains provisions for satisfaction and discharge
of the entire indebtedness of this Security upon compliance by the Company with certain conditions set forth in the Indenture.

 

The Indenture contains provisions for defeasance at any time
of the entire indebtedness of this Security or certain covenants and Events of Default with respect to this Security, in each case
upon compliance with certain conditions set forth in the Indenture. For purposes of the defeasance and covenant defeasance provisions,
German government securities shall be used instead of United States government securities in respect of payments due in euros on
the Securities of this series.

 

If an Event of Default with respect to the Securities of this
series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture.

 

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 all series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of
a majority in principal amount of the Securities at the time Outstanding of all series to be affected, treated as one class. The
Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each
series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive 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 Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and
of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation
of such consent or waiver is made upon this Security.

 

As provided in and subject to the provisions of the Indenture,
the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment
of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal
amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings
in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, 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 the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice,
request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement
of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed or provided
for herein.

    	9

    	

    

No reference herein to the Indenture and no provision of this
Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any premium and interest on this Security 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 Security is registrable in the Security Register, upon surrender of this Security for registration
of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security
are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security
Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities
of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the
designated transferee or transferees. No service charge shall be made for any such registration of transfer or exchange, but the
Company and the Security Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable
in connection therewith.

 

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

 

Except in the limited circumstances described in Section 305
of the Indenture, this Security shall be issued in the form of one or more Global Securities and a common depositary for the accounts
of Euroclear and Clearstream shall be the Depositary for such Global Security or Securities. Clause 2(A)(iii) of the eighth paragraph
of Section 305 of the Indenture shall be inapplicable to this Security.

 

The Securities of this series are issuable only in registered
form without coupons in minimum denominations of €100,000 and any integral multiples of €1,000 in excess thereof. As
provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for
a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested
by the Holder surrendering the same.

 

Notices to Holders of the Securities of this series will be
sent by mail or email to the registered Holders, or otherwise in accordance with the procedures of the applicable depositary.

 

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

 

THE INDENTURE AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.

    	10

    	

    

CERTIFICATE OF AUTHENTICATION

 

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

 

	Date: May 28, 2015	The Bank of New York Mellon,	 
	 	 	As Trustee	 
	 	 	 	 
	 	By: 	 	 
	 	 	Authorized Signatory	 

    	11

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