Document:

Lender Joinder and Increase Agreement

 Exhibit 10.4 
 LENDER JOINDER AND INCREASE AGREEMENT 
 THIS LENDER JOINDER AND INCREASE AGREEMENT
(this “Agreement”) dated as of October 26, 2012 to the Credit Agreement referenced below is by and among CACI International Inc, a Delaware corporation (the “Borrower”), the Guarantors identified on the
signature pages hereto, Barclays Bank PLC (the “New Lender”), the Lenders identified on the signature pages hereto and Bank of America, N.A., in its capacity as Administrative Agent (in such capacity, the “Administrative
Agent”). 
 WITNESSETH 
 WHEREAS, revolving credit and term loan facilities have been extended to the Borrower pursuant to the Credit Agreement (as amended, modified, supplemented, increased and extended from time to time, the
“Credit Agreement”) dated as of October 21, 2010 among the Borrower, the Guarantors identified therein, the Lenders identified therein and the Administrative Agent; and 

WHEREAS, pursuant to clause (iv) of the last proviso in Section 11.01 of the Credit Agreement the Borrower has the right
to increase commitments under the Initial Revolving Facility subject to the terms and conditions therein; and 
 WHEREAS, each
of the New Lender and the Lenders identified on the signature pages hereto (collectively, the “Participating Lenders”) has agreed to provide a new or additional commitment to the Initial Revolving Facility on the terms set forth
herein. 
 NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Defined Terms. Capitalized terms
used herein but not defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
 2. New
Lender. The Borrower, the Guarantors and the New Lender acknowledge, agree and confirm that the New Lender shall from and after the date hereof be deemed to be a party to the Credit Agreement and a “Lender” and a “Revolving
Lender” for all purposes of the Credit Agreement and the other Loan Documents and shall have all of the rights and obligations of a Lender and a Revolving Lender under the Credit Agreement and the other Loan Documents. 

3. Incremental Facility Commitments. Each of the Participating Lenders agrees effective on the date hereof to increase its
Revolving Commitment to (or, in the case of the New Lender, provide a Revolving Commitment in) the amount set forth on Exhibit A. The terms of such increased Revolving Commitments (or, in the case of the New Lender, such Revolving Commitment) shall
be identical to the terms of the Initial Revolving Facility as in effect immediately prior to the date hereof, as the same may be amended subsequent to the date hereof in accordance with the Credit Agreement. 

4. Conditions Precedent. This Agreement shall be effective as of the date hereof upon satisfaction of each of the following
conditions precedent: 
 (a) execution of this Agreement by the Borrower, the Guarantors, the Participating
Lenders, the Administrative Agent, the L/C Issuer and the Swing Line Lender; 

  
 4 

 (b) receipt by the Administrative Agent of a Note for the New Lender
executed by the Borrower, to the extent requested by the New Lender; 
 (c) no Default shall exist on the date
hereof or would exist after giving effect to this Agreement and the increase in the Initial Revolving Facility contemplated herein; 
 (d) receipt by the Administrative Agent of a certificate of each Loan Party dated as of the date hereof signed by a Responsible Officer of such Loan Party certifying and attaching resolutions adopted by
the board of directors or equivalent governing body of such Loan Party approving this Agreement and the increase in the Initial Revolving Facility contemplated herein; 

(e) receipt by the Administrative Agent of a certificate of the Borrower dated as of the date hereof signed by a
Responsible Officer of the Borrower certifying that, before and after giving effect to this Agreement and the increase in the Initial Revolving Facility contemplated herein, (i) the representations and warranties of each Loan Party contained in
Article VI of the Credit Agreement or any other Loan Document, or which are contained in any document furnished at any time under or in connection with the Credit Agreement or any other Loan Document, shall be true and correct in all material
respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date; and
(ii) no Default exists; 
 (f) receipt by the Administrative Agent of customary opinions of legal counsel to
the Loan Parties (it being understood that opinions in respect of corporate and perfection by filing matters shall only be required in respect of Loan Parties organized under the laws of Delaware, California and Virginia), addressed to the
Administrative Agent and each Lender (including the New Lender), dated as of the date hereof; and 
 (g) payment
of all fees payable by the Borrower to the Administrative Agent and the Lenders on or prior to the date hereof in connection with the increase in the Initial Revolving Facility contemplated herein. 

5. Agreement is a “Loan Document”. This Agreement is a Loan Document and all references to a “Loan Document”
in the Credit Agreement and the other Loan Documents (including, without limitation, all such references in the representations and warranties in the Credit Agreement and the other Loan Documents) shall be deemed to include this Agreement.

 6. Reaffirmation of Obligations. Each Loan Party (a) acknowledges and consents to all of the terms and conditions
of this Agreement, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Agreement does not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents. 

7. Reaffirmation of Security Interests. Each Loan Party (a) agrees that, notwithstanding the effectiveness of this Agreement,
the Security Agreement and each of the other Collateral Documents continue to be in full force and effect and are not impaired or adversely affected in any manner whatsoever, (b) confirms its guaranty of the Obligations and its grant of a
security interest pursuant to the Collateral Documents in its assets that constitute Collateral as collateral therefor, all as provided in the Loan Documents as originally executed and (c) acknowledges that such guaranty and grant continues in
full force and effect in respect of, and to secure, the Obligations under the Credit Agreement and the other Loan Documents. 

  
 5 

 8. No Other Changes. Except as modified hereby, all of the terms and provisions of
the Loan Documents shall remain in full force and effect. 
 9. Counterparts; Delivery. This Agreement may be executed in
counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of this Agreement by
facsimile or other electronic imaging means shall be effective as an original. 
 10. Governing Law. This Agreement shall
be deemed to be a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of New York. 
 [Signature Pages Follow] 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Lender Joinder and Increase
Agreement to be executed by their officers thereunto duly authorized as of the date hereof. 
  

							
	BORROWER:	 		 	CACI INTERNATIONAL INC, a Delaware corporation
				
		 		 	By:	 	 /s/ Thomas A. Mutryn

		 		 	Name:	 	Thomas A. Mutryn
		 		 	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer
			
	GUARANTORS:	 		 	CACI PRODUCTS COMPANY, a Delaware corporation
		 		 	CACI PRODUCTS COMPANY CALIFORNIA, a California corporation
		 		 	CACI, INC.-FEDERAL, a Delaware corporation
		 		 	CACI TECHNOLOGIES, INC., a Virginia corporation
		 		 	CACI DYNAMIC SYSTEMS, INC., a Virginia corporation
		 		 	CACI PREMIER TECHNOLOGY, INC., a Delaware corporation
		 		 	CACI MTL SYSTEMS, INC., a Delaware corporation
		 		 	CACI SYSTEMS, INC., a Virginia corporation
		 		 	CACI-CMS INFORMATION SYSTEMS, INC, a Virginia corporation
		 		 	CACI ENTERPRISE SOLUTIONS, INC., a Delaware corporation
		 		 	R.M. VREDENBURG & CO., a Virginia corporation
		 		 	CACI-WGI, INC., a Delaware corporation
		 		 	CACI SECURED TRANSFORMATIONS, INC., a Florida corporation
		 		 	CACI-NSR, INC., a Delaware corporation
		 		 	CACI TECHNOLOGY INSIGHTS, INC., a Virginia corporation
		 		 	CACI-ATHENA, INC., a Delaware corporation
		 		 	BUSINESS DEFENSE AND SECURITY CORPORATION,
		 		 	a Virginia corporation
		 		 	CACI-ISS, INC., a Delaware corporation
		 		 	CACI-SYSTEMWARE INC., a California corporation
		 		 	APPLIED SYSTEMS RESEARCH, INC., a Virginia corporation
		 		 	TECHNIGRAPHICS, INC., an Ohio corporation
		 		 	PANGIA TECHNOLOGIES, LLC, a Nevada limited liability company
		 		 	DELTA SOLUTIONS AND TECHNOLOGIES, INC., a Virginia corporation
		 		 	ADVANCED PROGRAMS GROUP, LLC,
		 		 	a Virginia limited liability company
		 		 	APG INTEL, LLC, a Virginia limited liability company
		 		 	PARADIGM HOLDINGS, INC., a Nevada corporation
		 		 	PARADIGM SOLUTIONS CORPORATION, a Maryland corporation
		 		 	TRINITY INFORMATION MANAGEMENT SERVICES, INC.,
		 		 	a Nevada corporation
		 		 	CACI, INC.-COMMERCIAL, a Delaware corporation
				
		 		 	By:	 	 /s/ Thomas A. Mutryn

		 		 	Name:	 	Thomas A. Mutryn
		 		 	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer

 [SIGNATURE PAGES FOLLOW] 

							
	NEW LENDER:	 		 	BARCLAYS BANK PLC
				
		 		 	By:	 	 /s/ Michael Mozer

		 		 	Name:	 	Michael Mozer
		 		 	Title:	 	Vice President
			
	LENDERS:	 		 	BANK OF AMERICA, N.A.
				
		 		 	By:	 	 /s/ Michael J. Radcliffe

		 		 	Name:	 	Michael J. Radcliffe
		 		 	Title:	 	Senior Vice President
			
		 		 	SUNTRUST BANK
				
		 		 	By:	 	 /s/ Baerbel Freudenthaler

		 		 	Name:	 	Baerbel Freudenthaler
		 		 	Title:	 	Director
			
		 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Gina Peters

		 		 	Name:	 	Gina Peters
		 		 	Title:	 	Vice President
			
		 		 	PNC BANK, NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Crissola K. Talsania

		 		 	Name:	 	Crissola K. Talsania
		 		 	Title:	 	Vice President
			
		 		 	ROYAL BANK OF CANADA
				
		 		 	By:	 	 /s/ Richard Smith

		 		 	Name:	 	Richard Smith
		 		 	Title:	 	Authorized Signatory
			
		 		 	BRANCH BANKING AND TRUST COMPANY
				
		 		 	By:	 	 /s/ James E. Davis

		 		 	Name:	 	James E. Davis
		 		 	Title:	 	Senior Vice President
			
		 		 	TD BANK, N.A.
				
		 		 	By:	 	 /s/ William Panagis

		 		 	Name:	 	William Panagis
		 		 	Title:	 	Vice President

 [SIGNATURE PAGES FOLLOW] 

							
		 		 	U.S. BANK NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Mark Irey

		 		 	Name:	 	Mark Irey
		 		 	Title:	 	Assistant Vice President
			
		 		 	FIRST COMMONWEALTH BANK
				
		 		 	By:	 	 /s/ Lawrence C. Deihle

		 		 	Name:	 	Lawrence C. Deihle
		 		 	Title:	 	Senior Vice President
			
		 		 	CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH
				
		 		 	By:	 	 /s/ Eric Y.S. Tsai

		 		 	Name:	 	Eric Y.S. Tsai
		 		 	Title:	 	Vice President and General Manager

 [SIGNATURE PAGES FOLLOW] 

							
	ADMINISTRATIVE AGENT:	 		 	BANK OF AMERICA, N.A., as Administrative Agent
				
		 		 	By:	 	 /s/ Roberto Salazar

		 		 	Name:	 	Roberto Salazar
		 		 	Title:	 	Vice President
			
	L/C ISSUER:	 		 	BANK OF AMERICA, N.A., as L/C Issuer
				
		 		 	By:	 	 /s/ Michael J. Radcliffe

		 		 	Name:	 	Michael J. Radcliffe
		 		 	Title:	 	Senior Vice President
			
	SWING LINE LENDER:	 		 	BANK OF AMERICA, N.A., as Swing Line Lender
				
		 		 	By:	 	 /s/ Michael J. Radcliffe

		 		 	Name:	 	Michael J. Radcliffe
		 		 	Title:	 	Senior Vice President

 EXHIBIT A 
 Revolving Commitment Increases 
  

									
	 Participating Lender
	  	Additional Revolving
Commitment	 	  	New Revolving
Commitment	 
	 Bank of America, N.A.
	  	$	13,000,000.00	  	  	 	N/A	  
	 SunTrust Bank
	  	$	13,000,000.00	  	  	 	N/A	  
	 Wells Fargo Bank, National Association
	  	$	13,000,000.00	  	  	 	N/A	  
	 PNC Bank, National Association
	  	$	12,000,000.00	  	  	 	N/A	  
	 Royal Bank of Canada
	  	$	9,000,000.00	  	  	 	N/A	  
	 Barclays Bank PLC
	  	 	N/A	  	  	$	60,000,000.00	  
	 Branch Banking and Trust Company
	  	$	8,000,000.00	  	  	 	N/A	  
	 TD Bank, N.A.
	  	$	8,000,000.00	  	  	 	N/A	  
	 U.S. Bank National Association
	  	$	6,000,000.00	  	  	 	N/A	  
	 First Commonwealth Bank
	  	$	3,000,000.00	  	  	 	N/A	  
	 Chang HWA Commercial Bank, Ltd., New York Branch
	  	$	5,000,000.00	  	  	 	N/AOfficers' Certificate Delivered Pursuant to Section 301

 Exhibit 4.1 
 WASTE MANAGEMENT, INC. 
 Officers’ Certificate Delivered Pursuant to

 Section 301 of the Indenture dated as of September 10, 1997 

The undersigned, the Vice President and Treasurer, and the Corporate Secretary of Waste Management, Inc. (the “Company”),
hereby certify that: 
 1. This Certificate is delivered to The Bank of New York Mellon Trust Company, N.A. (the current
successor to Texas Commerce Bank National Association), as trustee (the “Trustee”), pursuant to Sections 102 and 301 of the Indenture dated as of September 10, 1997 between the Company, formerly known as USA Waste Services, Inc., and
the Trustee in connection with the Company Order dated September 12, 2012 (the “Order”) for the authentication and delivery by the Trustee of $500,000,000 aggregate principal amount of 2.90% Notes due 2022 (the “Notes”).

 2. The undersigned have read Sections 102, 103, 301 and 303 of the Indenture and the definitions in the Indenture relating
thereto. 
 3. The statements made herein are based either upon the personal knowledge of the persons making this Certificate or
on information, data and reports furnished to such persons by the officers, counsel, department heads or employees of the Company who have knowledge of the facts involved. 
 4. The undersigned have examined the Order, and they have examined the covenants, conditions and provisions of the Indenture relating thereto. 

5. In the opinion of the persons making this Certificate, they have made such examination or investigation as is necessary to enable them
to express an informed opinion as to whether or not all conditions provided for in the Indenture with respect to the Order have been complied with. 
 6. All conditions precedent provided in the Indenture to the authentication by the Trustee of $500,000,000 aggregate principal amount of the Notes have been complied with, and such Notes may be delivered
in accordance with the Order as provided in the Indenture. 
 7. The terms of the Notes (including the Form of Note) as set forth
in Annex A to this Officers’ Certificate have been approved by officers of the Company as duly authorized by resolutions of the Board of Directors of the Company as of August 20, 2009 and such resolutions, copies of which are
attached hereto as Annex B, are in full force and effect as of the date hereof. 
 [signature page follows]

 WASTE MANAGEMENT, INC. 
 Officers’ Certificate Delivered Pursuant to 
 Section 301 of the Indenture
dated as of September 10, 1997 

 IN WITNESS WHEREOF, the undersigned has hereunto executed as of the date first written
above. 
  

	
	
	/s/ Devina A. Rankin
	 Devina A. Rankin
 Vice
President and Treasurer

	
	/s/ Linda J. Smith
	 Linda J. Smith
 Corporate
Secretary

 WASTE MANAGEMENT, INC. 
 Officers’ Certificate Delivered Pursuant to 
 Section 301 of the Indenture
dated as of September 10, 1997 

 Annex A 
 Terms of the Notes 
 Pursuant to authority granted by the Board of
Directors of the Company on August 20, 2009 and the Sole Director of Waste Management Holdings, Inc. on September 4, 2012, the Company has approved the establishment, issuance, execution and delivery of a new series of Securities (as
defined in the Indenture) to be issued under the Indenture dated as of September 10, 1997 (the “Indenture”), between the Company, formerly known as USA Waste Services, Inc., and The Bank of New York Mellon Trust Company, N.A. (the
current successor to Texas Commerce Bank National Association), as trustee (the “Trustee”), the terms of which are set forth below. Capitalized terms used but not defined herein are used herein as defined in the Indenture. 

 

	(1)	The title of the series of Securities shall be “2.90% Senior Notes due 2022” (the “Notes”). 

 

	(2)	The Notes shall be general unsecured, senior obligations of the Company. 

  

	(3)	The initial aggregate principal amount of the Notes that may be authenticated and delivered under the Indenture shall be $500,000,000 (except for Notes authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture); provided, however, that the authorized aggregate principal amount of such series
may be increased before or after the issuance of any Notes of such series by a Board Resolution (or action pursuant to a Board Resolution) to such effect. 

  

	(4)	The principal amount of each Note shall be payable on September 15, 2022. 

 

	(5)	Each Note shall bear interest from September 12, 2012 at the fixed rate of 2.90% per annum; the Interest Payment Dates on which such interest shall be payable
shall be March 15 and September 15, of each year, commencing March 15, 2013, until maturity unless such date falls on a day that is not a Business Day, in which case, such payment shall be made on the next day that is a Business Day.
The Regular Record Date for the determination of Holders to whom interest is payable shall be March 1 or September 1, respectively, immediately preceding such date, as the case may be. 

 

	(6)	If a “Change of Control Triggering Event” (as defined in the Notes) occurs, each Holder of the Notes may require the Company to purchase all or a portion of
such Holder’s Notes at a price equal to 101% of the principal amount, plus accrued interest, if any, to the date of purchase, on the terms and subject to the conditions set forth in the Notes. 

 

	(7)	The Notes are to be issued as Registered Securities only. Each Note is to be issued as a book-entry note (“Book-Entry Note”) but in certain circumstances may
be represented by Notes in definitive form. The Book-Entry Notes shall be issued, in whole or in part, in the form of one or more Notes in global form as contemplated by Section 203 of the Indenture. The Depositary with respect to the
Book-Entry Notes shall be The Depository Trust Company, New York, New York. 

	(8)	Payments of principal of, premium, if any, and interest due on the Notes representing Book-Entry Notes on any Interest Payment Date or at maturity will be made
available to the Trustee by 11:00 a.m., New York City time, on such date, unless such date falls on a day which is not a Business Day, in which case such payments will be made available to the Trustee by 11:00 a.m., New York City time, on the next
Business Day. As soon as possible thereafter, the Trustee will make such payments to the Depositary. 

  

	(9)	Before June 15, 2022, the Notes will be redeemable and repayable, at the option of the Company, at any time in whole, or from time to time in part, at a Redemption
Price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of
calculation of the Redemption Price) thereon (exclusive of interest accrued to the Redemption Date (as defined in the Notes)) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at
the applicable Treasury Yield (as defined in the Notes) plus 20 basis points; plus, in either case, accrued interest to the Redemption Date. On or after June 15, 2022, the Notes will be redeemable and repayable, at the option of the Company, at
any time in whole, or from time to time in part, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed plus accrued interest on the Notes to be redeemed to the Redemption Date. 

 

	(10)	The Company shall have no obligation to redeem, purchase or repay the Notes pursuant to any mandatory redemption, sinking fund or analogous provisions or at the option
of a Holder thereof. 

  

	(11)	The Notes will be subject to defeasance and discharge as contemplated by Section 1302 of the Indenture and to covenant defeasance under Section 1303 of the
Indenture. 

  

	(12)	The Notes shall be entitled to the benefit of the covenants contained in Sections 1008 and 1009 of the Indenture. 

 

	(13)	The Bank of New York Mellon Trust Company, N.A. shall serve initially as Security Registrar for the Notes. 

 

	(14)	The Notes shall be substantially in the form of Exhibit A hereto. 

  

	(15)	The Notes will be fully and unconditionally guaranteed on a senior basis by the Company’s wholly owned subsidiary, Waste Management Holdings, Inc., pursuant to the
terms and conditions of a Guarantee Agreement dated September 12, 2012 (the “Guarantee”). The amount of the Guarantee will be limited to the extent required under applicable fraudulent conveyance laws to cause the Guarantee to be
enforceable. The terms and conditions of the Guarantee shall continue in full force and effect for the benefit of holders of the Notes until release thereof as set forth in Section 6 of the Guarantee. 

 EXHIBIT A 
 TO 
 TERMS OF NOTES 

(Form of Note) 
 BOOK-ENTRY SECURITY 
 THIS SECURITY IS A BOOK-ENTRY SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER
NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION FOR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
  

					
	 RGN-1
	 		 	Principal Amount
			
		 	WASTE MANAGEMENT, INC.	 	U.S. $500,000,000, which may be decreased by the Schedule of Exchanges of Definitive Security attached hereto
			
		 	2.90% SENIOR NOTES DUE 2022	 	
			
		 		 	CUSIP 94106LAY5

 WASTE MANAGEMENT, INC., a Delaware corporation (the “Company,” which term includes any
successors under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or registered assigns, at the office or agency of the Company, the principal sum of Five Hundred Million ($500,000,000) U.S.
dollars, or such lesser principal sum as is shown on the attached Schedule of Exchanges of Definitive Security, on September 15, 2022 in such coin or currency of the United States of America as at the time of payment shall be legal tender for
the payment of public and private debts, and to pay interest at an annual rate of 2.90% payable on March 15 and September 15 of each year, to the person in whose name this 

 
Security is registered at the close of business on the record date for such interest, which shall be the preceding March 1 or September 1, respectively, payable commencing
March 15, 2013, with interest consisting of interest accrued from September 12, 2012. 
 Reference is made to the
further provisions of this Security set forth on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 

The statements in the legends set forth above are an integral part of the terms of this Security and by acceptance hereof the Holder of
this Security agrees to be subject to, and bound by, the terms and provisions set forth in each such legend. 
 This Security is
issued in respect of a series of Securities of an initial aggregate of U.S. $500,000,000 in principal amount designated as the 2.90% Senior Notes due 2022 of the Company and is governed by the Indenture dated as of September 10, 1997, duly
executed and delivered by the Company, formerly known as USA Waste Services, Inc., to The Bank of New York Mellon Trust Company N.A. (the current successor to Texas Commerce Bank National Association) as trustee (the “Trustee”), as
supplemented by Board Resolutions (as defined in the Indenture) (such Indenture and Board Resolutions, collectively, the “Indenture”). The terms of the Indenture are incorporated herein by reference. This Security shall in all respects be
entitled to the same benefits as definitive Securities under the Indenture. 
 If and to the extent that any provision of the
Indenture limits, qualifies or conflicts with any other provision of the Indenture that is required to be included in the Indenture or is deemed applicable to the Indenture by virtue of the provisions of the Trust Indenture Act of 1939, as amended,
such required provision shall control. 
 The Company hereby irrevocably undertakes to the Holder hereof to exchange this
Security in accordance with the terms of the Indenture without charge. 

 This Security shall not be valid or become obligatory for any purpose until the Certificate
of Authentication hereon shall have been manually signed by the Trustee under the Indenture. 
 IN WITNESS WHEREOF, the Company
has caused this instrument to be duly executed under its corporate seal. 
  

							
	Dated: September 12, 2012	 		 	 WASTE MANAGEMENT, INC.,
 a Delaware corporation

				
		 		 	By:	 	 
		 		 		 	Devina A. Rankin
		 		 		 	Vice President and Treasurer
			
		 		 	Attest:
				
		 		 	By:	 	 
		 		 		 	Linda J. Smith
		 		 		 	Secretary

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

							
	Date of Authentication: September 12, 2012	 		 	 The Bank of New York Mellon Trust
 Company N.A., as Trustee

				
		 		 	By:	 	 
		 		 		 	Julie Hoffman-Ramos
		 		 		 	Vice President

 REVERSE OF BOOK-ENTRY SECURITY 

WASTE MANAGEMENT, INC. 
 2.90% SENIOR NOTES DUE 2022 
 This Security is one of a duly authorized issue of
unsecured debentures, notes or other evidences of indebtedness of the Company (the “Debt Securities”) of the series hereinafter specified, all issued or to be issued under and pursuant to the Indenture, to which Indenture reference is
hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Debt Securities. The Debt Securities may be issued in one or more series, which
different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest (if any) at different rates, may be subject to different sinking, purchase or analogous funds (if any) and may otherwise vary as
provided in the Indenture. This Security is one of a series designated as the 2.90% Senior Notes due 2022 of the Company, in initial aggregate principal amount of $500,000,000 (the “Securities”). 

 

	 	1.	Interest. 

 The Company
promises to pay interest on the principal amount of this Security at the rate of 2.90% per annum. 
 The Company will pay
interest semi-annually on March 15 and September 15 of each year (each an “Interest Payment Date”), commencing March 15, 2013. Interest on the Securities will accrue from the most recent date to which interest has been paid
or, if no interest has been paid on the Securities, from September 12, 2012. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. The Company shall pay interest (including post-petition interest in any
proceeding under any applicable bankruptcy laws) on overdue installments of interest (without regard to any applicable grace period) and on overdue principal and premium, if any, from time to time on demand at the rate of 2.90% per annum, in
each case to the extent lawful. 
  

	 	2.	Method of Payment. 

 The
Company shall pay interest on the Securities (except Defaulted Interest) to the persons who are the registered Holders at the close of business on the Regular Record Date immediately preceding the Interest Payment Date. Any such interest not so
punctually paid or duly provided for (“Defaulted Interest”) may be paid to the persons who are registered Holders at the close of business on a Special Record Date for the payment of such Defaulted Interest, or in any other lawful manner
not inconsistent with the requirements of any securities exchange on which such Securities may then be listed if such manner of payment shall be deemed practicable by the Trustee, as more fully provided in the Indenture. Except as provided below,
the Company shall pay principal and interest in such coin or currency of the United States of America as at the time of payment shall be legal tender for payment of public and private debts (“U.S. Legal Tender”). Payments in respect of a
Book-Entry Security (including principal, premium, if any, and interest) will be made by wire transfer of immediately available funds to the accounts 

 
specified by the Depository. Payments in respect of Securities in definitive form (including principal, premium, if any, and interest) will be made at the office or agency of the Company
maintained for such purpose within the Borough of Manhattan, the City of New York, which initially will be at the corporate trust office of The Bank of New York Mellon, located at 101 Barclay Street, Floor 21W, New York, New York, 10286 or at the
option of the Company, payment of interest may be made by check mailed to the Holders on the Regular Record Date or on the Special Record Date at their addresses set forth in the Security Register of Holders. 

 

	 	3.	Paying Agent and Registrar. 

 Initially, The Bank of New York Mellon Trust Company, N.A. will act as Paying Agent and Registrar. The Company may change any Paying Agent, Registrar or co-Registrar at any time upon notice to the Trustee
and the Holders. The Company or any of its Subsidiaries may, subject to certain exceptions, act as Paying Agent, Registrar or co-Registrar. 
  

	 	4.	Indenture. 

 This Security
is one of a duly authorized issue of Debt Securities of the Company issued and to be issued in one or more series under the Indenture. 
 Capitalized terms herein are used as defined in the Indenture unless otherwise defined herein. The terms of the Securities include those stated in the Indenture and all indentures supplemental thereto,
those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended, as in effect on the date of the Indenture, and those terms stated in the Officers’ Certificate to the Trustee, duly authorized by resolutions of the
Board of Directors of the Company on August 20, 2009 (the “Resolutions”) and the written consent of the Sole Director of Waste Management Holdings, Inc. on September 4, 2012 (the “Consent”). The Securities are subject
to all such terms, and Holders of Securities are referred to the Indenture, all indentures supplemental thereto, said Act, said Resolutions and said Consent and Officers’ Certificate for a statement of them. The Securities of this series are
general unsecured obligations of the Company limited with an initial aggregate principal amount of $500,000,000. 
  

	 	5.	Redemption. 

 Before
June 15, 2022, the Securities will be redeemable and repayable, at the option of the Company, at any time in whole, or from time to time in part, at a Redemption Price (the “Make-Whole Price”) equal to the greater of: (i) 100% of
the principal amount of the Securities to be redeemed; or (ii) the sum of the present values of the remaining scheduled payments of principal and interest (at the rate in effect on the date of calculation of the Redemption Price) on the
Securities (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the applicable Treasury Yield plus 20 basis points; plus, in
either case, accrued interest to the Redemption Date. 
 On or after June 15, 2022, the Securities will be redeemable and
repayable, at the option of the Company, at any time in whole, or from time to time in part, at a Redemption Price equal to 100% of the principal amount of the Securities to be redeemed plus accrued interest on the Securities to be redeemed to the
Redemption Date. 

 Securities called for redemption become due on the Redemption Date. Notices of redemption
will be mailed at least 30 but not more than 60 days before the Redemption Date to each holder of record of the Securities to be redeemed at its registered address. The notice of redemption for the Securities will state, among other things, the
amount of Securities to be redeemed, the Redemption Date, the Redemption Price or, if not ascertainable, the manner of determining the Make-Whole Price and the place(s) that payment will be made upon presentation and surrender of Securities to be
redeemed. Unless the Company defaults in payment of the Make-Whole Price, interest will cease to accrue on any Securities that have been called for redemption at the Redemption Date. If less than all the Securities are redeemed at any time, the
Trustee will select the Securities to be redeemed on a pro rata basis or by any other method the Trustee deems fair and appropriate. 
 For purposes of determining the Make-Whole Price, the following definitions are applicable: 
 “Treasury Yield” means, with respect to any Redemption Date applicable to the Securities, the rate per annum equal to the semi-annual equivalent yield to maturity (computed as of the third
Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for
such Redemption Date. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term of the Securities that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Securities. 
 “Independent Investment Banker” means
any of Barclays Capital Inc., BNP Paribas Securities Corp. and Merrill Lynch, Pierce, Fenner & Smith Incorporated (and their respective successors), or, if all such firms are unwilling or unable to select the applicable Comparable Treasury
Issue, an independent investment banking institution of national standing appointed by the Trustee and reasonably acceptable to the Company. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations obtained by the Trustee for the Redemption Date, after
excluding the highest and lowest of all Reference Treasury Dealer Quotations obtained, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations obtained by
the Trustee. 
 “Reference Treasury Dealer” means (i) each of Barclays Capital Inc., BNP Paribas Securities Corp.
and Merrill Lynch, Pierce, Fenner & Smith Incorporated (and their respective successors), unless any of them ceases to be a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”), in which case
the Company will substitute therefor another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer selected by the Company. 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date for the Securities, an average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue for the Securities (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 Except as set forth above, the Securities will not be redeemable prior to their Stated Maturity and will not be entitled to the benefit of any sinking fund. 

The Securities may be redeemed in part in a minimum principal amount of $2,000, or any integral multiple of $1,000 in excess thereof.

 Any such redemption will also comply with Article Eleven of the Indenture. 

 

	 	6.	Change of Control Offer. 

If a Change of Control Triggering Event occurs, unless the Company has exercised its option to redeem the Securities as described in
Section 5, the Company shall make an offer (a “Change of Control Offer”) to each Holder of the Securities to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s
Securities on the terms set forth herein. In a Change of Control Offer, the Company shall offer payment in cash equal to 101% of the aggregate principal amount of Securities repurchased (a “Change of Control Payment”), plus accrued and
unpaid interest, if any, on the Securities repurchased to the date of repurchase, subject to the right of holders of record on the applicable record date to receive interest due on the next Interest Payment Date. 

Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but
after public announcement of the transaction that constitutes or may constitute the Change of Control, the Company shall mail a notice to Holders of the Securities describing the transaction that constitutes or may constitute the Change of Control
Triggering Event and offer to repurchase such Securities on the date specified in the applicable notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is mailed (a “Change of Control Payment
Date”). The notice may, if mailed prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event occurring on or prior to the applicable Change of
Control Payment Date. 
 Upon the Change of Control Payment Date, the Company shall, to the extent lawful: 

 

	 	•	 	 accept for payment all Securities or portions of Securities properly tendered and not withdrawn pursuant to the Change of Control Offer;

  

	 	•	 	 deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Securities or portions of Securities properly
tendered; and 

	 	•	 	 deliver or cause to be delivered to the Trustee the Securities properly accepted together with an Officers’ Certificate stating the aggregate
principal amount of Securities or portions of Securities being repurchased. 

 The Company need not make a
Change of Control Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third
party repurchases all Securities properly tendered and not withdrawn under its offer. In addition, the Company shall not repurchase any Securities if there has occurred and is continuing on the Change of Control Payment Date an Event of Default
under the Indenture, other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 
 The Company will comply with the applicable requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Securities as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations
conflict with the Change of Control Offer provisions of this Security, the Company may comply with those securities laws and regulations and, if so, will not be deemed to have breached its obligations under the Change of Control Offer provisions of
this Security by virtue of any such conflict. 
 For purposes of the Change of Control Offer provisions of the Securities, the
following terms are applicable: 
 “Change of Control” means the occurrence of any of the following: (1) the
direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the Company’s assets and the assets of its
Subsidiaries, taken as a whole, to any person, other than the Company or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person
becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the outstanding Voting Stock of the Company or other Voting Stock into which the Company’s Voting Stock is
reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or into, the
Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such
transaction where the shares of the Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect
parent company of the surviving person, measured by voting power rather than number of shares, immediately after giving effect to such transaction; (4) the first day on which a majority of the members of the Board of Directors of the Company
are not Continuing Directors; or (5) the adoption of a plan relating to the liquidation or dissolution of the Company. 

 Notwithstanding the preceding, a transaction will not be deemed to involve a Change of
Control under clause (2) above if (i) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (ii)(A) the direct or indirect holders of the Voting Stock of such holding company immediately following that
transaction are substantially the same as the holders of Voting Stock of the Company immediately prior to that transaction or (B) immediately following that transaction no person (other than a holding company satisfying the requirements of this
sentence) is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. The term “person,” as used in this definition, has the meaning given thereto in Section 13(d)(3) of the Exchange
Act. 
 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.

 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company
who (1) was a member of such Board of Directors on the date the Securities were issued or (2) was nominated for election, elected or appointed to such Board of Directors with the approval of a majority of the Continuing Directors who were
members of such Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director,
without objection to such nomination). 
 “Fitch” means Fitch Inc. and its successors. 

“Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement Rating Agency or Rating Agencies selected by the Company. 

“Moody’s” means Moody’s Investors Service, Inc. and its successors. 

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

“Rating Event” means the rating on the Securities is lowered by at least two of the three Rating Agencies and the Securities
are rated below an Investment Grade Rating by at least two of the three Rating Agencies, in any case on any day during the period (which period will be extended so long as the rating of the Securities is under publicly announced consideration for a
possible downgrade by any of the rating agencies) commencing 60 days prior to the first public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control and ending 60 days following consummation of
such Change of Control. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The
McGraw-Hill Companies, Inc., and its successors. 

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

 

	 	7.	Denominations; Transfer; Exchange. 

 The Securities are issued in registered form, without coupons, in a minimum denomination of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may register the transfer of, or exchange,
Securities in accordance with the Indenture. The Securities Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture.

  

	 	8.	Person Deemed Owners. 

The registered Holder of a Security may be treated as the owner of it for all purposes. 

 

	 	9.	Amendment; Supplement; Waiver. 

 Subject to certain exceptions, the Indenture may be amended or supplemented, and any existing Event of Default or compliance with any provision may be waived, with the consent of the Holders of a majority
in principal amount of the Outstanding Securities of each series affected. Without consent of any Holder, the parties thereto may amend or supplement the Indenture or the Securities to, among other things, cure any ambiguity, defect or
inconsistency, or make any other change that does not adversely affect the interests of any Holder of a Security. Any such consent or waiver by the Holder of this Security (unless revoked as provided in the Indenture) shall be conclusive and binding
upon such Holder and upon all future Holders and owners of this Security and any Securities which may be issued in exchange or substitution herefor, irrespective of whether or not any notation thereof is made upon this Security or such other
Securities. 
  

	 	10.	Defaults and Remedies. 

If an Event of Default with respect to the Securities occurs and is continuing, then in every such case the Trustee or the Holders of not
less than 25% in principal amount of the Securities then Outstanding may declare the principal amount of all the Securities to be due and payable immediately in the manner and with the effect provided in the Indenture. Notwithstanding the preceding
sentence, however, if at any time after such a declaration of acceleration has been made and before judgment or decree for payment of the money due has been obtained by the Trustee as provided in the Indenture, the Holders of a majority in principal
amount of the Outstanding Securities, by written notice to the Company and to the Trustee, may rescind and annul such declaration and its consequences if (1) the Company has paid or deposited with the Trustee a sum sufficient to pay
(A) all overdue interest on all Securities, (B) the principal of (and premium, if any, on) any Securities which has become due otherwise than by such declaration of acceleration and any interest thereon at the rate prescribed therefor
herein, (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate prescribed therefor herein, and (D) all sums paid or advanced by the Trustee and the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel and (2) all Events of Default under the Indenture with respect to the Securities, other than the 

 
nonpayment of the principal of Securities which has become due solely by such declaration acceleration, shall have been cured or shall have been waived. No such rescission shall affect any
subsequent Event of Default or shall impair any right consequent thereon. Holders of Securities may not enforce the Indenture or the Securities except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it
enforces the Indenture or the Securities. Subject to certain limitations, Holders of a majority in aggregate principal amount of the Securities then outstanding may direct the Trustee in its exercise of any trust or power. 

 

	 	11.	Trustee Dealings with Company. 

 The Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company and its Affiliates and any subsidiary of the
Company’s Affiliates, and may otherwise deal with the Company and its Affiliates as if it were not the Trustee. 
  

	 	12.	Authentication. 

 This
Security shall not be valid until the Trustee or authenticating agent signs the certificate of authentication on the other side of this Security. 
  

	 	13.	Abbreviations and Defined Terms. 

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

	 	14.	CUSIP Numbers. 

 Pursuant
to a recommendation promulgated by the Committee on Uniform Note Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities as a convenience to the Holders of the Securities. No representation is made as to the
accuracy of such number as printed on the Securities and reliance may be placed only on the other identification numbers printed hereon. 
  

	 	15.	Absolute Obligation. 

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

	 	16.	No Recourse. 

 No recourse
under or upon any obligation, covenant or agreement contained in the Indenture or in any Security, or because of any indebtedness evidenced thereby, shall be had against any incorporator, past, present or future stockholder, officer or director, as
such of the Company or of any successor, either directly or through the Company or of any successor, either 

 
directly or through the Company or any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the acceptance of the Security by the Holder and as part of the consideration for the issue of the Security. 

 

	 	17.	Governing Law. 

 This
Security shall be construed in accordance with and governed by the laws of the State of New York. 
  

	 	18.	Guarantee. 

 The
Securities will be fully and unconditionally guaranteed on a senior basis by the Company’s wholly owned subsidiary, Waste Management Holdings, Inc., pursuant to the terms and conditions of a Guarantee Agreement dated September 12, 2012
(the “Guarantee”). The amount of the Guarantee will be limited to the extent required under applicable fraudulent conveyance laws to cause the Guarantee to be enforceable. The terms and conditions of the Guarantee shall continue in full
force and effect for the benefit of holders of the Securities until release thereof as set forth in Section 6 of the Guarantee. 

 SCHEDULE OF EXCHANGES OF DEFINITIVE SECURITY 

The following exchanges of a part of this Book-Entry Security for definitive Securities have been made: 

 

									
	 Date of Exchange
	 	 Amount of decrease in

Principal Amount of this
 Book-Entry Security
	 	 Amount of increase in

Principal Amount of this
 Book-Entry Security
	  	Principal Amount of this
Book-Entry
Security
following such decrease
(or increase)	  	Signature of authorized
officer of Trustee
or
Security Custodian
		 		 		  		  	
		 		 		  		  	

 Annex B 

Resolutions of the Board of Directors 
 of Waste Management, Inc. 
 WHEREAS, on September 22, 2006,
Waste Management, Inc. (the “Company”) filed with the Securities Exchange Commission (the “SEC”) an automatic shelf registration statement on Form S-3, File No. 333-137526 (the “Automatic Shelf”), which registered
the offer and sale by the Company from time to time of common stock; senior and subordinated debt securities; preferred stock; warrants; units; and guarantees by Waste Management Holdings, Inc., a wholly-owned subsidiary of the Company
(“WMHI”), with respect to debt securities, in one or more classes or series in amounts as may be determined at the time of any offering; and 
 WHEREAS, pursuant to rules and regulations promulgated by SEC, the Automatic Shelf expires, by its terms, on September 22, 2009, three years after the effective date of the Automatic Shelf;
and 
 WHEREAS, the Company desires, and finds it in the best interests of the Company, to file a new automatic shelf
registration statement on Form S-3 in order to facilitate any future offerings of securities by the Company or any selling security holders. 
 NOW, THEREFORE, BE IT RESOLVED, that the Company is hereby authorized to prepare and file with the SEC an automatic shelf registration statement on Form S-3 (the “New Automatic Shelf”),
pursuant to the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), which New Automatic Shelf may cover, among other things, unsecured senior or subordinated debentures, notes or
other evidences of indebtedness of the Company (collectively “Debt Securities”); shares of common stock, par value $0.01 per share, of the Company (the “Common Stock”); warrants to purchase shares of Common Stock; shares of
preferred stock in such series with such designations, powers, preferences and relative and other special rights and qualifications, limitations and restrictions as the Board of Directors may from time to time authorize; guarantees of securities by
Waste Management Holdings, Inc., a wholly-owned subsidiary of the Company; and any units consisting of one or more of the foregoing (the Debt Securities, Common Stock, warrants, preferred stock, guarantees and units collectively referred to herein
as the “Securities”), to be issued from time to time; 
 RESOLVED FURTHER, that the proper officers (as
established pursuant to these resolutions) be, and they hereby are, authorized, in their sole and absolute discretion, subject to any limitations set forth in these resolutions, to cause the Company to offer and sell up to an aggregate of
$3,000,000,000 of Securities without further approval of the Board of Directors; 
 RESOLVED FURTHER, that the proper
officers and the authorized employees (as established pursuant to these resolutions) be, and each of them hereby is, authorized, in the name and on behalf of the Company, to execute and cause to be filed with the SEC any and all amendments
(including, without limitation, post-effective amendments) or supplements to the New Automatic Shelf and any prospectus included therein and any additional documents which such officer or employee may deem necessary or desirable with respect to the
registration and offering of the Securities, and such amendments, supplements, registration statements and documents to be in such form as the officer or employee executing the same may approve, as conclusively evidenced by his execution thereof;

 RESOLVED FURTHER, that the General Counsel of the Company be, and he hereby is,
designated and appointed the agent for service of process on the Company under the Securities Act in connection with the New Automatic Shelf and any and all amendments and supplements thereto, with all powers incident to such appointment;

 RESOLVED FURTHER, that the proper officers and authorized employees be and hereby are authorized and directed in the
name and on behalf of the Company to take any and all action which they may deem necessary or advisable in order to effect the registration or qualification of all or part of the Securities to be registered under the Securities Act, for offer and
sale under the securities or Blue Sky laws of the states of the United States of America, and in connection therewith, to execute, acknowledge, verify, deliver, file and publish all such applications, reports, issuer’s covenants, resolutions,
consents to service of process, or appointments of governmental officials for the purpose of receiving and accepting service of process on the laws, and to take any and all further action which they may deem necessary or advisable in order to
maintain any such registration or qualification for as long as they deem the same to be in the best interest of the Company; 

RESOLVED FURTHER, that the form of any additional resolutions required in connection with the appropriate qualification or
registration of the Securities for offer and sale under such securities or Blue Sky laws, be and hereby is approved and adopted, provided the appropriate officers of the Company, on the advice of counsel, consider the adoption thereof necessary or
advisable, in which case the Secretary or any Assistant Secretary of the Company is hereby directed to insert as an appendix hereto a copy of such resolutions, which shall thereupon be deemed to have been adopted by this Board with the same force
and effect as if set out verbatim herein; 
 RESOLVED FURTHER, that any of the proper officers or authorized employees
be, and each of them hereby is, authorized to approve at any time and from time to time, one or more forms of underwriting agreements (and related terms agreement) and agency agreement (and related purchase agreement) and any other agreement or
agreements any of such persons may deem necessary or appropriate in connection with the arrangements for the purchase of any of the Securities, and that such persons be, and each of them hereby is, authorized to execute and deliver, in the name and
on behalf of the Company, any such agreement or agreements in substantially the form approved by any of them, with such changes therein as the person executing the same may approve, as conclusively evidenced by the execution and delivery thereof, it
being understood that, in the case of any terms agreement or purchase agreement referred to above, it shall not be necessary for any of the proper officers to approve any individual agreement pursuant to which Securities are to be sold if the form
thereof has previously been approved as provided in this resolution; 

 RESOLVED FURTHER, that any of the proper officers be, and each of them hereby is,
authorized, at any time and from time to time, on behalf of the Company, (i) to determine, within any limits that may be set by the Board of Directors, the number of shares of Common Stock, preferred stock or other equity securities to be
offered and sold by the Company pursuant to the New Automatic Shelf, including any shares underlying warrants or convertible Debt Securities, (ii) to authorize the reserve and issuance of such shares and (iii) to take any and all action and to
do or cause to be done any and all things which may appear to any of the proper officers to be necessary or advisable in order to authorize, offer, issue, and sell such shares of Common Stock, pursuant to the New Automatic Shelf and the applicable
purchase agreement, which action could be taken or which things could be done by the Board of Directors of the Company; 

RESOLVED FURTHER, that any of the proper officers may, at any time and from time to time, on behalf of the Company, authorize the
issuance of one or more series of Securities under the Company’s indentures, within any limits that may be set by the Board of Directors, and in connection therewith establish, or, if all of the Securities of such series may not be originally
issued at one time, to the extent deemed appropriate, prescribe the manner of determining, within any limitations established by any of the proper officers and subject in either case to the limitations set forth in these resolutions, all of the
terms of such Securities; 
 RESOLVED FURTHER, that, in connection with any such series of Securities (but without
limiting the authority hereinafter in these resolutions conferred with respect to the issuance of Securities of a series which may not all be originally issued at one time), any of the proper officers is authorized at any time or from time to time
to determine the price or prices to be received by the Company in any offering or sale of Securities of such series, any public offering price or prices thereof, any discounts to be allowed or commissions to be paid to any agent, dealer or
underwriter and any other terms of offering or sale of Securities of such series and to sell Securities of such series in accordance with any applicable purchase agreement or other agreement(s); 

RESOLVED FURTHER, that, in connection with the issuance of Securities of any series which may not be originally issued at one time
(except as may be inconsistent with any action taken by any of the proper officers, as hereinabove provided, in connection with such series), any of the proper officers may delegate any of its authority pursuant to these resolutions to any officer
of the Company, including authority to fix the terms of such Securities; 
 RESOLVED FURTHER, that, in connection with
any such series of Securities, any of the proper officers is authorized to approve any amendment, modification or supplement to the Company’s indentures and that any proper officer be, and each of them hereby is, authorized to execute and
deliver, in the name and on behalf of the Company, any such amendment, modification or supplement, substantially in the form approved by any proper officer; 
 RESOLVED FURTHER, that the proper officers and authorized employees be, and each of them hereby is, authorized, in the name and on behalf of the Company, to execute and deliver such other
agreements (including indemnity agreements), documents, certificates, orders, requests and instruments as may be contemplated by the Company’s indentures or required by the trustee thereunder, the security registrar or any other agent of the
Company under such indentures in connection therewith or as may be necessary or appropriate in connection with the issuance and sale of Securities thereunder; 

 RESOLVED FURTHER, that the proper officers be, and each of them hereby is,
authorized, subject to and in accordance with the Company’s indentures and any action taken by any of the proper officers in connection therewith, from time to time to appoint or designate on behalf of the Company one or more security
registrars, paying agents and transfer agents for each series of Securities, to rescind on behalf of the Company any such appointment or designation and to approve on behalf of the Company any change in the location of any office through which any
such security registrar, paying agent or transfer agent acts, and in connection therewith to take such action and to make, execute and deliver, or cause to be made, executed and delivered, such agreements, instruments and other documents as any such
officer may deem necessary or appropriate; 
 RESOLVED FURTHER, that the proper officers and authorized employees be, and
each of them hereby is, authorized, in the name and on behalf of the Company, to make application to such securities exchange or exchanges as the persons acting shall deem necessary or appropriate for the listing thereof of any of the Securities
(including any Common Stock or preferred stock underlying any convertible Securities) and in connection therewith to appoint one or more listing agents and to prepare, or cause to be prepared, execute and file, or cause to be filed, an application
or applications for such listing and any and all amendments thereto and any additional certificates, documents, letters and other instruments which any such officer may deem necessary or desirable; that such officers, or such other person as any
such officer may designate in writing, be, and each of them hereby is, authorized to appear before any official or officials or before any body of any such exchange, with authority to make such changes in such application, amendments, certificates,
documents, letters and other instruments and to execute and deliver such agreements relative thereto, including, without limitation, listing agreements, fee agreements and indemnity agreements relating to the use of facsimile signatures as they, or
any one of them, may deem necessary or appropriate in order to comply with the requirements of any such exchange or to effect such listing; 
 RESOLVED FURTHER, that the proper officers be, and each of them hereby is, authorized, in the name and on behalf of the Company, to make application to the SEC for registration of any series of the
Securities under Section 12 or other applicable section of the Securities Exchange Act of 1934, and the proper officers and authorized employees are hereby authorized to prepare or cause to be prepared, and to execute and file, or cause to be
filed, with the SEC and any securities exchange an application or applications for such registration and any and all amendments thereto and any additional certificates, documents, letters and other instruments which any such officer may deem
necessary or desirable; 
 RESOLVED FURTHER, that the officers and authorized employees of the Company be, and each of
them hereby is, authorized to take, or cause to be taken, any and all action which any such officer may deem necessary or desirable in order to carry out the purpose and intent of the foregoing resolutions or in order to perform, or cause to be
performed, the obligations of the Company under the Securities, the New Automatic Shelf and any indenture, purchase agreement, or other agreement referred to herein, and, in connection therewith, to make, execute and deliver, or cause to be made,
executed and delivered, all agreements, undertakings, documents, certificates, orders, requests or instruments in the name and on behalf of the Company as each such officer or authorized employee may deem necessary or appropriate; 

 RESOLVED FURTHER, that for purposes of these resolutions, the term “proper
officer” shall mean any or all of the Chief Executive Officer, the Chief Financial Officer, the General Counsel, the Chief Accounting Officer and the Treasurer of the Company and the term “authorized employees” shall mean either or
both of the Vice President and Assistant General Counsel — Corporate and Securities and the Senior Counsel — Corporate & Securities of the Company; 
 RESOLVED FURTHER, that the form of any additional resolutions required in connection with the foregoing resolutions be and hereby is approved and adopted, provided the proper officers of the
Company, on the advice of counsel, consider the adoption thereof necessary or advisable, in which case the Secretary or any Assistant Secretary of the Company is hereby directed to insert as an appendix hereto a copy of such resolutions, which
shall, upon execution, be deemed to have been adopted by this Board with the same force and effect as if set out verbatim herein; and 
 RESOLVED FURTHER, that any officer of the Company is hereby authorized and directed to make, provide, execute, and deliver any and all statements, applications, certificates, representations,
payments, notices, receipts, and other instruments and documents and take any and all other actions which in the opinion of such officer is or may be necessary or appropriate in connection with or to consummate any of the matters covered by the
foregoing resolutions.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}]]