Document:

exv10w2

Exhibit 10.2

PRIVATE PLACEMENT PURCHASE AGREEMENT

                                                   (including any other persons or entities purchasing Notes (as defined
below) hereunder for whom the undersigned Holder holds contractual and investment authority, the
“Holder”) enters into this Private Placement Purchase Agreement (the “Agreement”) with Forest City
Enterprises, Inc., an Ohio corporation (the “Company”), on                     , 2009 whereby the Holder
will purchase (the “Purchase”) a portion of the Company’s 3.625% Puttable Equity-Linked Senior
Notes due 2014 (the “Notes”) that will be issued pursuant to the provisions of an Indenture dated
as of                     , 2009 among the Company and Bank of New York Trust Company, N.A., as Trustee
(the “Trustee”), as it may be supplemented or amended from time to time (the “Indenture”).

          On and subject to the terms hereof, the parties hereto agree as follows:

Article I: Purchase of Notes

          The Holder hereby agrees to purchase from the Company, and the Company hereby agrees to issue
and sell to the Holder, the following principal amount of the Notes for the cash purchase price
specified below:

Principal Amount of Notes to be Purchased: $                                                             (the “Purchased
Notes”).

Purchase Price:                     % of the principal amount of the Purchased Notes ($                                        ).

          The closing of the Purchase (the “Closing”) shall occur on a date (the “Closing Date”) no
later than three business days after the date of this Agreement. At Closing (a) the Holder shall
tender the purchase price specified above in immediately available funds and (b) the Company shall
issue to the Holder the Purchased Notes; provided, however, that the parties acknowledge that the
issuance of the Purchased Notes to the Holder may be delayed due to procedures and mechanics within
the system of the Depository Trust Company and that such delay will not be a default under this
Agreement so long as (i) the Company is using its reasonable efforts to effect the issuance of one
or more global notes representing the Purchased Notes, (ii) such delay is no longer than three
business days, and (iii) interest shall accrue on such Purchased Notes from the Closing Date.
Simultaneously with or after the Closing, the Company may issue Notes to one or more other holders,
subject to the terms of the Indenture.

Article II: Covenants, Representations and Warranties of the Company

          The Company hereby covenants as follows, and makes the following representations and
warranties, each of which is and shall be true and correct on the date hereof and on the Closing
Date, to the Holder, Lazard Frères & Co. LLC and Lazard Capital Markets LLC, and all such
covenants, representations and warranties shall survive the Purchase.

          
Section 2.1     Power and Authorization. The Company is duly incorporated, validly
existing and in good standing, and has the power, authority and capacity to execute and deliver
this Agreement and the Indenture, to perform its obligations hereunder and thereunder, and to
consummate the Purchase contemplated hereby.

     
     Section 2.2     Valid and Enforceable Agreements; No Violations. This Agreement has been
duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of
the Company, enforceable against the Company in accordance with its terms, except that such
enforcement may be subject to (a) bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium or other similar laws affecting or relating to enforcement of creditors’ rights
generally, and (b) general principles of equity regardless of whether such enforceability is
considered in a proceeding of law or equity (the “Enforceability Exceptions”). At the Closing, the
Indenture, substantially in the form of Exhibit B hereto, will have been duly executed and
delivered

 

 

by the Company and will govern the terms of the Purchased Notes, and will constitute a legal,
valid and binding obligation of the Company, enforceable against the Company in accordance with
their terms, except as such enforcement may be subject to the Enforceability Exceptions. This
Agreement, the Indenture and consummation of the Purchase will not violate, conflict with or result
in a breach of or default under (i) the charter, bylaws or other organizational documents of the
Company, (ii) any agreement or instrument to which the Company is a party or by which the Company
or any of its assets are bound, or (iii) any laws, regulations or governmental or judicial decrees,
injunctions or orders applicable to the Company.

          Section 2.3     Validity of the Purchased Notes. The Purchased Notes have been duly
authorized by the Company and, when executed and authenticated in accordance with the provisions of
the Indenture and delivered to the Holder pursuant to the Purchase in accordance with the terms of
this Agreement, the Holder’s Purchased Notes will be valid and binding obligations of the Company,
enforceable in accordance with their terms, except that such enforcement may be subject to the
Enforceability Exceptions, and the Purchased Notes will not be subject to any preemptive,
participation, rights of first refusal and other similar rights. Assuming the accuracy of the
Holder’s representations and warranties hereunder, the Purchased Notes (a) will be issued in the
Purchase exempt from the registration requirements of the Securities Act of 1933, as amended (the
“Securities Act”) pursuant to Section 4(2) of the Securities Act and (b) will be issued in
compliance with all applicable state and federal laws concerning the issuance of the Purchased
Notes.

          Section 2.4     Validity of Underlying Common Stock. The Purchased Notes will have an
equity-linked put right whereby the Purchased Notes may be converted into shares (the “Puttable
Equity-Linked Shares”) of the Company’s Class A common stock, par value $0.33 1/3 per share (the
“Common Stock”), in accordance with the terms of the Purchased Notes. The Puttable Equity-Linked
Shares have been duly authorized and reserved by the Company for issuance upon the exercise of the
equity-linked put right pursuant to the Purchased Notes and, when issued in connection with such
equity-linked put right in accordance with the terms of the Purchased Notes, will be validly
issued, fully paid and non-assessable, and the issuance of the Puttable Equity-Linked Shares will
not be subject to any preemptive, participation, rights of first refusal or other similar rights.

          Section 2.5     Listing Approval. At the Closing Date, the Puttable Equity-Linked Shares
shall be listed on the New York Stock Exchange.

          Section 2.6
     Disclosure. On or before the first business day following the date of
this Agreement, the Company shall issue a publicly available press release and/or file with the
Securities and Exchange Commission (the “SEC”) a Current Report on Form 8-K disclosing all material
terms of the Purchase (to the extent not previously publicly disclosed).

Article III: Covenants, Representations and Warranties of the Holder

          The Holder hereby covenants as follows, and makes the following representations and
warranties, each of which is and shall be true and correct on the date hereof and on the Closing
Date, to the Company, Lazard Frères & Co. LLC and Lazard Capital Markets LLC, and all such
covenants, representations and warranties shall survive the Purchase.

          Section 3.1
     Power and Authorization. The Holder is duly organized, validly existing
and in good standing, and has the power, authority and capacity to execute and deliver this
Agreement, to perform its obligations hereunder, and to consummate the Purchase contemplated
hereby. If the Holder that is signatory hereto is executing this Agreement to effect the purchase
of Notes by one or more other persons or entities (who are thus included in the definition of
“Holder” hereunder), (a) such signatory Holder has all requisite discretionary authority to enter
into this Agreement on behalf of, and bind, each such other person or entity that is acquiring
Purchased Notes, and (b) Exhibit A hereto is a true, correct and complete list of (i) the
name of each party acquiring (as beneficial owner) Purchased Notes hereunder, and (ii) the
principal amount of Purchased Notes being acquired by such Holder.

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Section 3.2      Valid and Enforceable Agreement; No Violations. This Agreement has been
duly executed and delivered by the Holder and constitutes a legal, valid and binding obligation of
the Holder, enforceable against the Holder in accordance with its terms, except as such enforcement
may be subject to the Enforceability Exceptions. This Agreement and consummation of the Purchase
will not violate, conflict with or result in a breach of or default under (i) the Holder’s
organizational documents, (ii) any agreement or instrument to which the Holder is a party or by
which the Holder or any of its assets are bound, or (iii) any laws, regulations or governmental or
judicial decrees, injunctions or orders applicable to the Holder.

          Section 3.3      Accredited Investor; Qualified Institutional Buyer. The Holder is an
“accredited investor” within the meaning of Rule 501 of Regulation D promulgated under the
Securities Act. The Holder is a “qualified institutional buyer” within the meaning of Rule 144A
promulgated under the Securities Act.

          Section 3.4      Restricted Stock. The Holder (a) acknowledges that the issuance of the
Purchased Notes pursuant to the Purchase, and the issuance of any of the Puttable Equity-Linked
Shares upon conversion of the Purchased Notes, have not been registered under the Securities Act or
any state securities laws, and the Purchased Notes and Puttable Equity-Linked Shares are being
offered and sold in reliance upon exemptions provided in the Securities Act and state securities
laws for transactions not involving any public offering and, therefore, cannot be sold,
transferred, offered for sale, pledged, hypothecated or otherwise disposed of unless they are
subsequently registered and qualified under the Securities Act and applicable state laws or unless
an exemption from such registration and qualification is available, and that evidence of the
Purchased Notes and Puttable Equity-Linked Shares will bear a legend to such effect, and (b) is
purchasing the Purchased Notes and Puttable Equity-Linked Shares for investment purposes only for
the account of the Holder and not with any view toward a distribution thereof or with any intention
of selling, distributing or otherwise disposing of the Purchased Notes or Puttable Equity-Linked
Shares in a manner that would violate the registration requirements of the Securities Act. The
Holder is able to bear the economic risk of holding the Purchased Notes and Puttable Equity-Linked
Shares for an indefinite period and has sufficient knowledge and experience in financial and
business matters so as to be capable of evaluating the merits and risk of its investment in the
Purchased Notes and Puttable Equity-Linked Shares.

          Section 3.5      Affiliate Status, Related Party or 5% Stockholder Status. The Holder is
not, and has not been during the consecutive three month period preceding the date hereof, a
director, officer or “affiliate” within the meaning of Rule 144 promulgated under the Securities
Act (an “Affiliate”) of the Company. The Holder and its Affiliates collectively beneficially own
and will beneficially own as of the Closing Date (but without giving effect to the Purchase) less
than 5% of the Common Stock. The Holder is not a subsidiary, affiliate or, to its knowledge,
otherwise closely-related to any director or officer of the Company or beneficial owner of 5% or
more of the outstanding Common Stock (each such director, officer or beneficial owner, a “Related
Party”). To its knowledge, no Related Party beneficially owns 5% or more of the outstanding voting
equity of the Holder.

          Section 3.6      No Prohibited Transactions. The Holder has not, directly or indirectly,
and no person acting on behalf of or pursuant to any understanding with the Holder has, engaged in
any transactions in the securities of the Company (including, without limitation, any Short Sales
(as defined below) involving any of the Company’s securities) since the time that such Holder was
first contacted by either the Company, Lazard Frères & Co. LLC or Lazard Capital Markets LLC or any
other person regarding an investment in the Purchased Notes or the Company. Such Holder covenants
that neither it nor any person acting on its behalf or pursuant to any understanding with such
Holder will engage, directly or indirectly, in any transactions in the securities of the Company
(including Short Sales) prior to the time the transactions contemplated by this Agreement are
publicly disclosed. “Short Sales” include, without limitation, all “short sales” as defined in
Rule 200 of Regulation SHO promulgated under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and all types of direct and indirect stock pledges, forward sale contracts,
options, puts, calls, short sales, swaps, derivatives and similar arrangements (including on a
total return basis), and sales and other transactions through non-U.S. broker-dealers or foreign
regulated brokers. Solely for purposes of this Section 3.6, subject to the Holder’s compliance
with its obligations under the U.S. federal securities laws and the Holder’s internal policies,

3

 

“Holder” shall not be deemed to include any subsidiaries or affiliates of the Holder that are
effectively walled off by appropriate “Chinese Wall” information barriers approved by the Holder’s
legal or compliance department (and thus have not been privy to any information concerning the
Purchase).

          Section 3.7      Adequate Information; No Reliance. The Holder acknowledges and agrees
that (a) the Holder has been furnished with all materials it considers relevant to making an
investment decision to enter into the Purchase and has had the opportunity to review the Company’s
filings with the SEC, including, without limitation, all filings made pursuant to the Exchange Act,
(b) the Holder has had a full opportunity to ask questions of the Company concerning the Company,
its business, operations, financial performance, financial condition and prospects, and the terms
and conditions of the Purchase, (c) the Holder has had the opportunity to consult with its
accounting, tax, financial and legal advisors to be able to evaluate the risks involved in the
purchase of the Purchased Notes pursuant hereto and to make an informed investment decision with
respect to such Purchase and (d) the Holder is not relying, and has not relied, upon any statement,
advice (whether legal, tax, financial, accounting or other), representation or warranty made by the
Company or any of its affiliates or representatives including, without limitation, Lazard Frères &
Co. LLC and Lazard Capital Markets LLC, except for (i) the publicly available filings made by the
Company with the SEC under the Exchange Act and (ii) the representations and warranties made by the
Company in this Agreement.

          Section 3.8      No Public Market. The Holder understands that no public market exists for
the Purchased Notes, and that there is no assurance that a public market will ever develop for the
Purchased Notes.

Article IV: Miscellaneous

          Section 4.1      Entire Agreement. This Agreement and any documents and agreements
executed in connection with the Purchase embody the entire agreement and understanding of the
parties hereto with respect to the subject matter hereof and supersede all prior and
contemporaneous oral or written agreements, representations, warranties, contracts, correspondence,
conversations, memoranda and understandings between or among the parties or any of their agents,
representatives or affiliates relative to such subject matter, including, without limitation, any
term sheets, emails or draft documents.

          Section 4.2      Construction. References in the singular shall include the plural, and
vice versa, unless the context otherwise requires. References in the masculine shall include the
feminine and neuter, and vice versa, unless the context otherwise requires. Headings in this
Agreement are for convenience of reference only and shall not limit or otherwise affect the
meanings of the provisions hereof. Neither party, nor its respective counsel, shall be deemed the
drafter of this Agreement for purposes of construing the provisions of this Agreement, and all
language in all parts of this Agreement shall be construed in accordance with its fair meaning, and
not strictly for or against either party.

          Section 4.3      Governing Law. This Agreement shall in all respects be construed in
accordance with and governed by the substantive laws of the State of New York, without reference to
its choice of law rules.

          Section 4.4      Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original, but all of which taken together shall constitute one and the
same instrument. Any counterpart or other signature hereon delivered by facsimile shall be deemed
for all purposes as constituting good and valid execution and delivery of this Agreement by such
party.

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[Signature page to follow]

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          IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed as of
the date first above written.

	 	 	 	 	 	 	 	 	 	 	 
	“HOLDER”:	 	 	 	FOREST CITY ENTERPRISES, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	By:	 	 	 	 
	 
	 	 	 

	 
	 	 	 	 	 	 	 	 	 	 
	Name:
	 	 	 	 	Name:
	 	 	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Title:
	 	 	 	 	 	Title:	 	 	 	 
	 
	 	 	 

 

 

EXHIBIT A

Purchasing Beneficial Owners

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	Name of	 	 	Principal Amount of	 
	 	Beneficial Owner	 	 	Purchased Notes	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 	 

	 	 	 	 
	 

 

 

EXHIBIT B

IndentureEX-4.1

Exhibit 4.1

TOTAL CAPITAL

Officer’s Certificate

Pursuant to Sections 102 and 301 of the Indenture

I, Jérôme Schmitt, the Président-Directeur Général of Total Capital, a French société anonyme (the
“Company”), hereby certify that:

1. on September 25, 2009, I, as duly appointed Président-Directeur Général of the Company, acting
in accordance with article L. 228-40 of the French Code de commerce and pursuant to the resolution
of the Board of Directors of the Company dated September 1, 2009, decided the issuance by the
Company of the US$1,000,000,000 3.125% Guaranteed Notes Due 2015 (the “Notes”), the terms of which
are in conformity with the provisions set forth in the Indenture dated October 2, 2009, among the
Company, TOTAL S.A. and The Bank of New York Mellon, as trustee (the “Indenture”), and consist of
the following:

(a) the Company may issue Securities of the same series as the Notes without the consent of the
holders of the Notes; any Securities so issued will have the same terms as the Notes in all
respects, except for the original interest accrual date and the first interest payment date, so
that such Securities will be consolidated and form a single series with the Notes; and

(b) the Notes shall have such other terms and provisions as are provided in the form thereof set
forth in Annex A hereto, and shall be issued in substantially such form.

2. all conditions precedent provided for in the Indenture (including any covenants compliance with
which constitutes a condition precedent) relating to the authentication and delivery of the Notes,
as requested in the accompanying Company Order of even date herewith, have been complied with.

The following statements are made pursuant to the provisions of Section 102 of the Indenture:

	(a)	 	the undersigned has read the provisions of the Indenture setting forth the covenants and
conditions relating to the authentication and delivery of the Notes and in respect of
compliance with which this certificate is being delivered, and the definitions in the
Indenture relating thereto;

 

 

	(b)	 	the undersigned has examined the resolutions of the Board of Directors of the Company, such
other corporate records of the Company, and such other documents deemed necessary as a basis
for the opinion hereinafter expressed;
	 
	(c)	 	in the opinion of the undersigned, such examination is sufficient to enable me to express an
informed opinion as to whether or not the covenants and conditions referred to above have been
complied with; and
	 
	(d)	 	the undersigned is of the opinion that such covenants and conditions have been complied with.

Capitalized terms used herein and not otherwise defined herein shall have the meanings given to
them in the Indenture.

IN WITNESS WHEREOF, I have hereunto signed my name.

	 	 	 	 	 
	 	 	 
	Dated: October 2, 2009 	/s/ Jérôme Schmitt
 	 
	 	Name:  	Jérôme Schmitt 	 
	 	Title:  	Chairman and Chief Executive Officer 	 

 

 

Annex A

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 GLOBAL 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 NO TRANSFER OF THIS
SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY 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) 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 OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF 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.

Total Capital.

3.125% Guaranteed Note Due 2015

			
	 	 	 
	No. [___]
	 	U.S.$ [___]
	 	 	CUSIP 89152U AA0
	 	 	ISIN US89152UAA07

Total Capital, a société anonyme duly organized and existing under the laws of the
Republic of France with a capital of €300,000 having its registered office at 2, place Jean
Millier, La Défense, 92400 Courbevoie, France, for a term that will expire on December 15, 2098,
with the Registry of Commerce and Companies (Registre du commerce et des sociétés) of Nanterre
under No. 428 292 023 (herein called the “Company”, which term includes any successor or substitute
corporation under the Indenture hereinafter referred to), for value received, hereby promises to
pay to Cede & Co., or registered assigns, the principal sum of [___] (U.S.$ [___])
on October 2, 2015, and to pay interest thereon from October 2, 2009 or from the most recent
Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April
2 and October 2 in each year, commencing April 2, 2010, at the rate of 3.125% per annum, until the
principal hereof is paid or made available for payment. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be
paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such interest, which shall be
the March 18 or September 17 (whether or not a Business Day), as the case may be, next preceding
such

 

 

Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith
cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person
in whose name this Security (or one or more Predecessor Securities) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10
days prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture.

If any deduction or withholding for any present or future taxes, assessments or other governmental
charges of the jurisdiction (or any political subdivision or taxing authority thereof or therein)
in which the Company is incorporated, shall at any time be required by such jurisdiction (or any
such political subdivision or taxing authority thereof or therein) in respect of any amounts to be
paid by the Company of principal of or interest on a Security of any series, then the Company will
pay to the Holder of a Security of such series such additional amounts as may be necessary in order
that the net amounts paid to such Holder of such Security, after such deduction or withholding,
shall be not less than the amounts specified in such Security to which such Holder is otherwise
entitled; provided, however, that the Company shall not be required to make any payment of
additional amounts for or on account of:

(a) any tax, assessment or other governmental charge which would not have been imposed but for (i)
the existence of any present or former connection between such Holder (or between a fiduciary,
settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such
Holder is an estate, trust, partnership or corporation) and the taxing jurisdiction or any
political subdivision or territory or possession thereof or area subject to its jurisdiction,
including, without limitation, such Holder (or such fiduciary, settlor, beneficiary, member,
shareholder or possessor) being or having been a citizen or resident thereof or being or having
been present or engaged in trade or business therein or having or having had a permanent
establishment therein or (ii) the presentation of a Security of such series (where presentation is
required) for payment on a date more than 30 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, sale, transfer, personal property or similar tax, assessment or
other governmental charge;

(c) any tax, assessment or other governmental charge that is payable otherwise than by withholding
from payments of (or in respect of) principal of, or any interest on, the Securities of such
series;

(d) any tax, assessment or other governmental charge that is imposed or withheld by reason of the
failure by the Holder or the beneficial owner of the Security of such series (i) to provide
information concerning the nationality, residence or identity of the Holder or such beneficial
owner or (ii) to make any declaration or other similar claim or satisfy any information or
reporting requirements, which, in the case of (i) or (ii), is required or imposed by a statute,
treaty, regulation or administrative practice of the taxing jurisdiction as a precondition to
exemption from all or part of such tax, assessment or other governmental charge;

 

 

(e) any tax, assessment or other governmental charge which such Holder would have been able to
avoid by presenting such Security to another Paying Agent;

(f) any tax, assessment or other governmental charge which is imposed on a payment pursuant to the
European Union Directive 2003/48/EC regarding the taxation of savings income or any other directive
amending, supplementing or replacing such directive, or any law implementing or complying with, or
introduced in order to conform to, such directive or directives; or

(g) any combination of items (a), (b), (c), (d), (e) and (f) above; nor shall additional amounts be
paid with respect to any payment of the principal of, or any interest on, any Security of such
series to any 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 jurisdiction (or any
political subdivision or taxing authority thereof or therein) 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 such additional amounts had it been the
Holder of such Security.

The foregoing provisions shall apply mutatis mutandis to any withholding or deduction in respect of
any amount to be paid by the Company of principal of or interest on a Security of any series (i)
for or on account of any present or future taxes, assessments or governmental charges of whatever
nature of any jurisdiction in which any successor or substitute Person to the Company is organized,
or any political subdivision or taxing authority thereof or therein; or (ii) if another Person
merges into or transfers its assets to the Company pursuant to Section 801, for or on account of
any taxes, assessments or governmental charges levied by the jurisdiction in which such other
Person is organized, or by any political subdivision or taxing authority thereof, as a result of
(x) the Company’s being treated as engaged in a trade or business, or having a permanent
establishment, in such jurisdiction and (y) the payment of principal or interest being allocable or
attributable to such trade or business or permanent establishment.

Payment of the principal of (and premium, if any) and interest on this Security will be made at the
Corporate Trust Office of the Trustee, as Paying Agent, in The City of New York, in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company payment of interest
may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register.

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.

 

 

In Witness Whereof, the Company has caused this instrument to be duly executed.

Dated: October 2, 2009

	 	 	 	 	 
	 	Total Capital

 	 
	 	By  	 	 
	 	 	Name:  	Jérôme Schmitt 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 

	 	 	 	 	 
	Attest:
	 	 	 	 
	 

	 	 

Name: Marielle de Coninck
	 	 
	 

	 	Title: Company Secretary	 	 

Trustee’s Certificate of Authentication

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

Dated: October 2, 2009

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee

 	 
	 	By  	 	 
	 	 	 
	 	Authorized Signatory

 	 

 

 

Reverse of Security

This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued outside France in one or more series under an Indenture,
dated as of October 2, 2009 (herein called the “Indenture”), among the Company, as issuer, TOTAL
S.A., as Guarantor (herein called the “Guarantor”), 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, limitation of rights, duties and immunities thereunder of the Company, the
Guarantor, the Trustee and the Holders of the Securities and of the terms upon which the Securities
are, and are to be, authenticated and delivered. This Security is one of the series designated on
the face hereof, initially limited in aggregate principal amount to U.S.$ 1,000,000,000.

The Securities of this series are subject to redemption upon not less than 30 nor more than 60
days’ notice by mail, as a whole or in part, at any time and from time to time at a redemption
price (the “Optional Mark-Whole Redemption Price”) equal to the greater of (i) 100% of the
principal amount of the notes to be redeemed and (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on the Securities to be redeemed (not
including any portion of payments of interest accrued to the date of redemption (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 Treasury Rate plus 15 basis points, plus accrued and
unpaid interest to the Redemption Date.

For purposes of determining the Optional Make-Whole Redemption Price, the following definitions are
applicable.

“Treasury Rate” means, with respect to any Redemption Date, the rate per year equal to the
semi-annual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of
its principal amount) equal to the Comparable Treasury Price for such Redemption Date.

“Comparable Treasury Issue” means the U.S. Treasury security or securities selected by the
Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of
the Securities of this series to be redeemed 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 such Securities.

“Comparable Treasury Price” means, with respect to any Redemption Date, the average of the
Reference Treasury Dealer Quotations for such Redemption Date.

“Quotation Agent” means one of the Reference Treasury Dealers appointed by Total Capital and TOTAL
S.A.

“Reference Treasury Dealer” means Banc of America Securities LLC, Deutsch Bank Securities Inc. or
their respective affiliates which are primary U.S. government securities dealers, and their
respective successors, and three other primary U.S. government securities dealers selected by Total
Capital and TOTAL S.A., provided, however, that if any of the foregoing shall cease to be a primary
U.S. government securities dealer in the United States (a “primary treasury dealer”), Total Capital
and TOTAL S.A. shall substitute therefor another primary treasury dealer.

 

 

“Reference Treasury Dealer Quotations” means with respect to each Reference Treasury Dealer and any
Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 3:30 p.m. New York
time on the third Business Day preceding such Redemption Date.

Interest will be computed on the basis of a 360-day year of twelve 30-day months.

“Business Day” shall mean each Monday, Tuesday, Wednesday, Thursday and Friday
which is not a day on which banking or trust institutions in The City of New York are authorized
generally or obligated by law, regulation or executive order to close.

If an Event of Default with respect to 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.

In the event of redemption of this Security in part only, a new Security or Securities of this
series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the
cancellation hereof.

This Security is also redeemable prior to Stated Maturity as permitted under Section 1108
(“Optional Redemption Due to Changes in Tax Treatment”); the date specified for the Securities of
this series, for the purpose of said Section 1108, is October 2, 2009.

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 Guarantor and the rights of the
Holders of the Securities of each series to be affected under the Indenture at any time by the
Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal
amount of the Securities at the time Outstanding of each series to be affected. The Indenture also
contains provisions permitting the Holders of specified percentages in principal amount of the
Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of
such series, to waive compliance by the Company or the Guarantor, or both, 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, and the Trustee shall not have received from the Holders of a majority in principal
amount of Securities of this series at the time Outstanding a direction inconsistent with such
request, and shall have failed to institute any such proceeding, for 60 days after receipt of such
notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by
the

 

 

Holder of this Security for the enforcement of any payment of principal hereof or any premium or
interest hereon on or after the respective due dates expressed 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 premium, if any) 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 premium, if any) and interest on this Security are payable, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the Security Registrar
duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one
or more new Securities of this series, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees.

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

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

Prior to due presentment of this Security for registration of transfer, the Company, the Guarantor,
the Trustee and any agent of the Company, the Guarantor or the Trustee may treat the Person in
whose name this Security is registered as the owner hereof for all purposes (subject to Section 307
of the Indenture), whether or not this Security be overdue, and neither the Company, the Guarantor,
the Trustee nor any such agent shall be affected by notice to the contrary.

The Indenture provides that the Company and the Guarantor, at the Guarantor’s option, (a) will be
discharged from any and all obligations in respect of the Securities (except for certain
obligations to register the transfer or exchange of Securities, replace stolen, lost or mutilated
Securities, maintain paying agencies and hold moneys for payment in trust) or (b) need not comply
with certain restrictive covenants of the Indenture, in each case if the Company or the Guarantor
deposits, in trust, with the Trustee money or U.S. Government Obligations which, through the
payment of interest thereon and principal thereof in accordance with their terms, will provide
money, in an amount sufficient to pay all the principal (including any mandatory sinking fund
payments) of, and premium, if any, and interest on, the Securities on the dates such payments are
due in accordance with the terms of such Securities and Guarantee, and certain other conditions are
satisfied.

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

 

 

Guarantee of Total S.A.

For value received, TOTAL S.A., a société anonyme duly organized and existing under the laws of the
Republic of France (herein called the “Guarantor”, which term includes any successor corporation
under the Indenture referred to in the Security upon which this Guarantee is endorsed), hereby
unconditionally guarantees to the Holder of the Security upon which this Guarantee is endorsed and
to the Trustee referred to in such Indenture due and prompt payment of the principal of (and
premium, if any) and interest (including additional amounts) on such Security, when and as the same
shall become due and payable, whether at the Stated Maturity, by declaration of acceleration, call
for redemption or otherwise, according to the terms thereof and of the Indenture referred to
therein. In case of the failure of Total Capital, a société anonyme duly organized and existing
under the laws of the Republic of France (herein called the “Company”, which term includes any
successor corporation under such Indenture) punctually to make any such principal, premium or
interest (including additional amounts) payment, the Guarantor hereby agrees to cause any such
payment to be made promptly when and as the same shall become due and payable, whether at the
Stated Maturity, by declaration of acceleration, call for redemption or otherwise, and as if such
payment were made by the Company.

The Guarantor hereby further agrees, subject to the limitations and exceptions set forth below,
that if any deduction or withholding for any present or future taxes, assessments or other
governmental charges of the jurisdiction (or any political subdivision or taxing authority thereof
or therein) in which the Guarantor is incorporated, shall at any time be required by such
jurisdiction (or any such political subdivision or taxing authority thereof or therein) in respect
of any amounts to be paid by the Guarantor under this Guarantee, the Guarantor will pay to the
Holder of a Security of such series such additional amounts as may be necessary in order that the
net amounts paid to such Holder of such Security, after such deduction or withholding, shall be not
less than the amounts specified in such Security to which such Holder is otherwise entitled;
provided, however, that the Guarantor shall not be required to make any payment of additional
amounts for or on account of:

(a) any tax, assessment or other governmental charge which would not have been imposed but for (i)
the existence of any present or former connection between such Holder (or between a fiduciary,
settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such
Holder is an estate, trust, partnership or corporation) and the taxing jurisdiction or any
political subdivision or territory or possession thereof or area subject to its jurisdiction,
including, without limitation, such Holder (or such fiduciary, settlor, beneficiary, member,
shareholder or possessor) being or having been a citizen or resident thereof or being or having
been present or engaged in trade or business therein or having or having had a permanent
establishment therein or (ii) the presentation of a Security of such series (where presentation is
required) for payment on a date more than 30 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, sale, transfer, personal property or similar tax, assessment or
other governmental charge;

(c) any tax, assessment or other governmental charge that is payable otherwise than by withholding
from payments of (or in respect of) principal of, or any interest on, the Securities of such
series;

 

 

(d) any tax, assessment or other governmental charge that is imposed or withheld by reason of the
failure by the Holder or the beneficial owner of the Security of such series (i) to provide
information concerning the nationality, residence or identity of the Holder or such beneficial
owner or (ii) to make any declaration or other similar claim or satisfy any information or
reporting requirements, which, in the case of (i) or (ii), is required or imposed by a statute,
treaty, regulation or administrative practice of the taxing jurisdiction as a precondition to
exemption from all or part of such tax, assessment or other governmental charge;

(e) any tax, assessment or other governmental charge which such Holder would have been able to
avoid by presenting such Security to another Paying Agent;

(f) any tax, assessment or other governmental charge which is imposed on a payment pursuant to
the European Union Directive 2003/48/EC regarding the taxation of savings income or any other
directive amending, supplementing or replacing such directive, or any law implementing or complying
with, or introduced in order to conform to, such directive or directives;

or (g) any combination of items (a), (b), (c), (d), (e) and (f) above; nor shall additional amounts
be paid with respect to any payment of the principal of, or any interest on, any Security of such
series to any 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 jurisdiction (or any
political subdivision or taxing authority thereof or therein) 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 such additional amounts had it been the
Holder of such Security.

The foregoing provisions shall apply mutatis mutandis to any withholding or deduction in respect of
any amount to be paid by the Guarantor of principal of or interest on a Security of any series (i)
for or on account of any present or future taxes, assessments or governmental charges of whatever
nature of any jurisdiction in which any successor to the Guarantor is organized, or any political
subdivision or taxing authority thereof or therein; or (ii) if another Person merges into or
transfers its assets to the Guarantor pursuant to Section 801, for or on account of any taxes,
assessments or governmental charges levied by the jurisdiction in which such other Person is
organized, or by any political subdivision or taxing authority thereof, as a result of (x) the
Guarantor’s being treated as engaged in a trade or business, or having a permanent establishment,
in such jurisdiction and (y) the payment of principal or interest being allocable or attributable
to such trade or business or permanent establishment.

The Guarantor hereby agrees that its obligations hereunder shall be as if it were principal debtor
and not merely surety, and shall be absolute and unconditional, irrespective of, and shall be
unaffected by, any invalidity, irregularity or unenforceability of such Security or such Indenture,
any failure to enforce the provisions of such Security or such Indenture, or any waiver,
modification or indulgence granted to the Company with respect thereto, by the Holder of such
Security or such Trustee, or any other circumstance which may otherwise constitute a legal or
equitable discharge of a surety or guarantor; provided, however, that, notwithstanding the
foregoing, no such waiver, modification or indulgence shall, without the consent of the Guarantor,
increase the principal amount of such Security or the interest rate thereon or increase any premium
payable upon redemption thereof. The Guarantor hereby waives diligence, presentment, demand of
payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any
right to require a proceeding first against the Company, protest

 

 

or notice with respect to such Security or the indebtedness evidenced thereby and all demands
whatsoever, and covenants that this Guarantee will not be discharged except by payment in full of
the principal of (and premium, if any) and interest on such Security. This Guarantee is a
guarantee of payment and not of collection.

The Guarantor shall be subrogated to all rights of the Holder of such Security against the Company
in respect of any amounts paid to such Holder by the Guarantor pursuant to the provisions of this
Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to receive
any payments arising out of or based upon, such right of subrogation until the principal of (and
premium, if any) and interest on all Securities of the same series issued under such Indenture
shall have been paid in full.

No reference herein to such Indenture and no provision of this Guarantee or of such indenture shall
alter or impair the guarantee of the Guarantor, which is absolute and unconditional, of the due and
punctual payment of the principal of (and premium, if any) and interest on the Security upon which
this Guarantee is endorsed at the times, place and rate, and in the cash or currency prescribed
therein.

This Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication of such Security shall have been manually executed by or on behalf of the Trustee
under such Indenture.

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

IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be signed manually or in facsimile
by a person duly authorized in that behalf.

Dated: October 2, 2009

	 	 	 	 	 
	 	TOTAL S.A.

 	 
	 	By  	 	 
	 	 	Name:  	Jérôme Schmitt 	 
	 	 	Title:  	Treasurer 	 

	 	 	 	 	 
	Attest:
	 	 	 	 
	 

	 	 

Name: Charles Paris de Bollardière
	 	 
	 

	 	Title: Secretary

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