Document:

ex44s1a408150004_09112015.htm

Exhibit 4.4

 

	
Certificate No.: ______

 

	  	
Number of Shares: ________

CUSIP No. ________

Trans-Lux Corporation

Incorporated under the Laws of the State of Delaware

Series B Convertible Preferred Stock, par value $0.001 per share

THIS CERTIFIES THAT ___________________________________________________________________ IS THE OWNER OF

_______________________________________________________________________________ fully-paid and non-assessable shares of the above Corporation, transferable on the books of the Corporation by said owner in person or by his duly authorized attorney upon the surrender of this certificate properly endorsed.  This certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

WITNESS, the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.

 

Dated: ____________________

 

	  	
TRANS-LUX CORPORATION

 

CORPORATE SEAL

 

Delaware 1920

	  
	
J.M. Allain, Chief Executive Officer

	
Robert J. Conologue, Senior Vice President and Chief Financial Officer

 

  

  

  

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

 

	
TEN COM

	
as tenants in common

	
Unif Gift Min Act -

	
________ Custodian __________

	
TEN ENT

	
tenants by the entireties

	  	
   (Cust)    (Minor)

	
JT TEN

 

 

	
as joint tenants with right of survivorship 

and not as tenants in common

 

	  	
Under Uniform Gifts to Minors Act: ____________________

(State)

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

 

TRANS-LUX CORPORATION

 

The Corporation will furnish without charge to each stockholder who so requests the powers, designations, preferences and relative, participating, option or other special rights of each class of stock or series thereof of the Corporation and the qualifications, limitations, or restrictions of such preferences and/or rights.  This certificate and the shares represented hereby are issued and shall be held subject to the terms and conditions applicable to the securities underlying and comprising the shares.

 

For Value Received, __________________________________ hereby sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

	  
	
  

 

	
(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

	  

Shares represented by the within Certificate, and do hereby irrevocably constitute and appoint _____________________________ Attorney, to transfer the said shares on the books of the within named Corporation with full power of substitution in the premises.

 

	
Dated __________________

	
By: ___________________________________________________

	  	  
	  	
By: ___________________________________________________

	  	
NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

	
Signature(s) Guaranteed

	  
	  	  
	
By: ___________________________________________________

	  
	
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.EX-4.1

 Exhibit 4.1 
  

 
  

AUTOMATIC DATA PROCESSING, INC., 

Company 
 AND 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

Trustee 
  

 
 FIRST
SUPPLEMENTAL INDENTURE 
 Dated as of September 15, 2015 

 
  

$1,000,000,000 2.250% Senior Notes due 2020 

$1,000,000,000 3.375% Senior Notes due 2025 
  

 
  

 FIRST SUPPLEMENTAL INDENTURE, dated as of September 15, 2015 between Automatic Data
Processing, Inc., a Delaware corporation (the “Company”), and Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, as trustee (the
“Trustee”): 
 WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of
September 15, 2015 (the “Base Indenture” and, as supplemented hereby, the “Indenture”), to provide for the issuance by the Company from time to time of senior debt securities evidencing its unsecured
indebtedness, to be issued in one or more series as provided in the Indenture; 
 WHEREAS, pursuant to a Board Resolution, the
Company has authorized the issuance of a series of securities evidencing its senior indebtedness, consisting initially of $1,000,000,000 aggregate principal amount of 2.250% Senior Notes due 2020 (the “2020 Original Notes “ and,
together with all the Additional 2020 Notes (as defined herein), if any, hereinafter referred to, the “2020 Notes”); 

WHEREAS, pursuant to a Board Resolution, the Company has authorized the issuance of a series of securities evidencing its senior
indebtedness, consisting initially of $1,000,000,000 aggregate principal amount of 3.375% Senior Notes due 2025 (the “2025 Original Notes “ and, together with all the Additional 2025 Notes (as defined herein), if any, hereinafter
referred to, the “2025 Notes”). The 2020 Notes together with the 2025 Notes are hereinafter referred to as the “Notes”; 

WHEREAS, the entry into this First Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the
Indenture; 
 WHEREAS, the Company desires to establish the respective terms of the Notes of each series in accordance with
Section 2.01 of the Indenture and to establish the respective forms of the Notes of each series in accordance with Section 2.02 of the Indenture; and 

WHEREAS, all acts and requirements necessary to make this First Supplemental Indenture a valid and legally binding agreement of the Company,
in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of the premises and the purchase of the Notes by the
holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the Noteholders: 

  
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 ARTICLE 1 

Section 1.01. Terms of Notes. The following terms relating to the Notes are hereby established: 

(a) The 2020 Notes shall constitute a series of securities having the title “2.250% Senior Notes due 2020.” The 2025 Notes shall
constitute a series of securities having the title “3.375% Senior Notes due 2025.” 
 (b) The aggregate principal amount of the 2020
Original Notes that may be authenticated and delivered under the Indenture (except for 2020 Notes authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other 2020 Notes pursuant to Sections 2.05, 2.06,
2.07 or 9.04 of the Base Indenture) shall be up to $1,000,000,000. The aggregate principal amount of the 2025 Original Notes that may be authenticated and delivered under the Indenture (except for 2025 Notes authenticated and delivered upon
registration of, transfer of, or in exchange for, or in lieu of, other 2025 Notes pursuant to Sections 2.05, 2.06, 2.07 or 9.04 of the Base Indenture) shall be up to $1,000,000,000. 

(c) The entire outstanding principal of the 2020 Notes shall be payable on September 15, 2020 plus any unpaid interest accrued to such date. The entire
outstanding principal of the 2025 Notes shall be payable on September 15, 2025 plus any unpaid interest accrued to such date. 
 (d) The rate at which
the 2020 Notes shall bear interest shall be 2.250% per annum; the rate at which the 2025 Notes shall bear interest shall be 3.375% per annum; the date from which interest shall accrue on the 2020 Notes shall be September 15, 2015 or
from the most recent Interest Payment Date to which interest has been paid; the date from which interest shall accrue on the 2025 Notes shall be September 15, 2015 or from the most recent Interest Payment Date to which interest has been paid;
the Interest Payment Dates for the 2020 Notes on which interest will be payable shall be March 15 and September 15 in each year, beginning March 15, 2016; the Interest Payment Dates for the 2025 Notes on which interest will be payable
shall be March 15 and September 15 in each year, beginning March 15, 2016; the regular record dates for the interest payable on the 2020 Notes on any Interest Payment Date shall be the March 1 or September 1 immediately
preceding the applicable Interest Payment Date; the regular record dates for the interest payable on the 2025 Notes on any Interest Payment Date shall be the March 1 or September 1 immediately preceding the applicable Interest Payment
Date; and the basis upon which interest on the Notes shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. 
 (e) (i) Each
series of Notes may be redeemed in whole at any time or in part from time to time, at the option of the Company. 
 (ii) The
redemption price (the “Redemption Price”) of the 2020 Notes to be redeemed shall be calculated as follows, plus, in each case, accrued and unpaid interest on the principal amount being redeemed to but excluding the redemption
date: 

  
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 (A) If the redemption date is prior to August 15, 2020, the 2020 Notes to be
redeemed may be redeemed by the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of the 2020 Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal
of and interest on the 2020 Notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current
Treasury Rate plus 12.5 basis points; or 
 (B) If the redemption date is on or after August 15, 2020, the 2020 Notes to
be redeemed may be redeemed by the Company at a Redemption Price equal to 100% of the principal amount of the 2020 Notes to be redeemed. 

(iii) The Redemption Price of the 2025 Notes to be redeemed shall be calculated as follows, plus, in each case, accrued and unpaid interest on
the principal amount being redeemed to but excluding the redemption date: 
 (A) If the redemption date is prior to
June 15, 2025, the 2025 Notes to be redeemed may be redeemed by the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of the 2025 Notes to be redeemed and (2) the sum of the present values of the
remaining scheduled payments of principal of and interest on the 2025 Notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the then current Treasury Rate plus 20 basis points; or 
 (B) If the redemption date is on or after
June 15, 2025, the 2025 Notes to be redeemed may be redeemed by the Company at a Redemption Price equal to 100% of the principal amount of the 2025 Notes to be redeemed. 

(iv) In case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of either or both series of the
2020 Notes and the 2025 Notes in accordance with Section 1.01(e)(i) – (iii) above, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Notes to be redeemed by mailing, first class postage
prepaid, a notice of such redemption not less than 30 days and not more than 60 days before the date fixed for redemption to such holders at their last addresses as they shall appear upon the Security Register. Any notice that is mailed in the
manner herein provided shall be conclusively presumed to have been duly given, whether or not the registered holder received the notice. In any case, failure duly to give such notice to the holder of any Note designated for redemption in whole or in
part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Note. 

(A) Each such notice of redemption shall specify the series and amount of Notes to be redeemed, the date fixed for redemption,
the CUSIP or ISIN number(s) of such Notes and the applicable Redemption Price at which the Notes to be redeemed are to be redeemed, and shall state that payment of the Redemption Price of such Notes to be

  
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redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Notes, that interest accrued to
the date fixed for redemption will be paid as specified in said notice and, that from and after said date interest will cease to accrue; except that interest shall continue to accrue on any Note or portion thereof with respect to which the Company
defaults in the payment of such Redemption Price and accrued interest. If less than all the Notes of a series are to be redeemed, the notice to the holders of the Notes of that series to be redeemed in part shall specify the particular Notes to be
redeemed. In case any Notes are to be redeemed in part only, the notice that relates to such Notes shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such
security, a new Note of such series in principal amount equal to the unredeemed portion thereof will be issued. 
 (B) If the
Trustee is to provide notice to the holders of the Notes in accordance with this Section 1.01(e)(iv), for a partial or full redemption, the Company shall give the Trustee at least 45 days’ notice in advance of the date fixed for redemption
as to the aggregate principal amount of Notes of such series to be redeemed, and thereupon, in the case of a partial redemption, the Trustee shall select, by lot or in such other manner as it shall deem appropriate (in accordance with the
Depositary’s customary procedures) and that may provide for the selection of a portion or portions (equal to two thousand U.S. dollars ($2,000) and integral multiples of one thousand U.S. dollars ($1,000) in excess thereof) of the principal
amount of Notes of such series of a denomination larger than $2,000, the Notes of such series to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of the Notes of such series to be redeemed, in whole or in part.

 (C) The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by an Authorized
Officer, instruct the Trustee or any paying agent to call all or any part of a series of the Notes for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name
as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or
such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice that may be required under the
provisions of this Section. 
 (D) Subject to Section 2.11 of the Base Indenture with respect to any Global Security,
the Company shall not be required (i) to issue, register the transfer of or exchange any Notes of the applicable series during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of the
Notes of such series selected for redemption and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any Notes of such series so selected for redemption in whole or in part, except the
unredeemed portion of any such Notes being redeemed in part. 

  
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 (E) If the giving of notice of redemption shall have been completed as above
provided, the Notes or portions of the Notes to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable Redemption Price, and interest on such Notes shall cease to accrue
on and after the date fixed for redemption, except that interest shall continue to accrue on any such Notes or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and accrued interest. 

(v) As used herein: 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York, New
York are authorized or required by law to remain closed. 
 “Comparable Treasury Issue” means, with respect
to a series of Notes, the United States Treasury security selected by the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes of such 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 Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury
Dealer Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average
of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by
the Company. 
 “Reference Treasury Dealer” means (i) J.P. Morgan Securities LLC and its successors and
(ii) Merrill Lynch, Pierce, Fenner & Smith Incorporated and its successors, or one or more Reference Treasury Dealers as the Company may specify from time to time; provided, however, that if any of them ceases to be a primary U.S.
Government securities dealer in the City of New York (each a “Primary Treasury Dealer”), the Company will substitute another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date
in respect of the Notes of a series, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed as a percentage of its principal amount) quoted in writing to the
Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date in respect of the Notes of a series, the rate per year
equal to: 

  
 5 

 (i) the yield, under the heading which represents the average for the immediately
preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields
on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue; provided that, if no maturity is within
three months before or after the remaining life of the series of debt securities to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be
interpolated or extrapolated from those yields on a straight line basis, rounding to the nearest month; or 
 (ii) if such
release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated
using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

The Treasury Rate shall be calculated on the third Business Day preceding the redemption date. 

With respect to Section 1.01(e)(ii)(A) and Section 1.01(e)(iii)(A) above, the Trustee shall be entitled to conclusively rely upon
the calculations of the Independent Investment Banker. 
 (f) (i) If a Change of Control Triggering Event occurs with respect to the Notes of a
series, unless the Company has exercised its option to redeem the Notes of such series by notifying the holders of the Notes of such series to that effect in accordance with Section 1.01(e), the Company will be required to make an offer (a
“Change of Control Offer”) to each holder of Notes of such series to repurchase all or any part (equal to $2,000 or integral multiples of $1,000 in excess of $2,000) of that holder’s Notes of such series. In a Change of Control
Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate principal amount of the Notes of such series repurchased, plus accrued and unpaid interest, if any, on the Notes of such series repurchased to, but
excluding, the date of repurchase (a “Change of Control Payment”). 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, a notice will be mailed to holders of the Notes of such series, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and
offering to repurchase the Notes of such series on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date that notice is mailed, other than as may be required by law (a “Change of
Control Payment Date”). The notice will, 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. 
 On each Change of Control Payment Date, the Company will, to the extent lawful: 

  
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 (A) accept for payment all Notes or portions of Notes properly tendered pursuant
to the Change of Control Offer; 
 (B) deposit with the paying agent an amount equal to the Change of Control Payment in
respect of all Notes or portions of Notes properly tendered; and 
 (C) deliver or cause to be delivered to the Trustee the
Notes properly accepted together with an officer’s certificate stating the aggregate principal amount of Notes being repurchased and that all conditions precedent provided for in the Indenture to the Change of Control Offer and to the
repurchase by the Company of Notes pursuant to the Change of Control Offer have been complied with. 
 (ii) The Company will not be required
to 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 Notes properly tendered and not withdrawn under its offer. 
 (iii) The Company will comply with the requirements
of Rule 14e-1 under 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 Notes as a result of a Change of Control Triggering Event.
To the extent that the provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the Company will comply with those securities laws and regulations and will not be deemed to have
breached its obligations under this Section 1.01(f) by virtue of any such conflict. 
 As used herein: 

“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 a 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 Company’s outstanding Voting Stock or other Voting Stock into which its 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 Company’s outstanding Voting Stock 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 Company’s Voting Stock
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 immediately after giving
effect to such transaction; (4) the first day on which a majority of the members of the Board of Directors are not Continuing Directors; 

  
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or (5) the adoption of a plan relating to the Company’s liquidation or dissolution. Notwithstanding the foregoing, 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 the Company’s Voting Stock immediately prior to that transaction or (B) the shares of the Company’s Voting Stock outstanding immediately prior to such transaction are converted into or
exchanged for, a majority of the Voting Stock of such holding company immediately after giving effect to such transaction. 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
who (1) was a member of the Board of Directors on the date the date hereof or (2) was nominated for election, elected or appointed to the Board of Directors with the approval of a majority of the Continuing Directors who were members of
the Board of Directors at the time of such nomination, election or appointment (either by specific action of the Board of Directors or by approval by such directors of the Company’s proxy statement in which such member was named as a nominee
for election as a director). 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P, and 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 Moody’s and S&P; and (2) if either of Moody’s or S&P
ceases to rate the applicable Notes or fails to make a rating of the applicable Notes publicly available for reasons beyond the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company (as certified by a resolution of the Board of Directors) as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by the two Rating Agencies and the Notes are rated below an
Investment Grade Rating by the two Rating Agencies, in any case on any day during the period (which period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by either of the Rating
Agencies) commencing 60 days prior to the earlier of (i) the first public notice of the occurrence of a Change of Control or (ii) the first public notice of the Company’s intention to effect a Change of Control and ending 60 days
following consummation of such Change of Control. 

  
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 “S&P” means Standard & Poor’s Rating 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 that person that is at the time entitled to vote generally in the election of the board of directors of that
person. 
 (g) The Notes shall be issuable in denominations equal to two thousand U.S. dollars ($2,000) or integral multiples of one thousand U.S.
dollars ($1,000) in excess thereof. 
 (h) The Trustee shall also be the security registrar and paying agent for the Notes. 

(i) Payments of the principal of and interest on the Notes shall be made in U.S. dollars, and the Notes shall be denominated in U.S. dollars. 

(j) The Notes shall constitute senior unsecured obligations of the Company. 

(k) The Notes of each series shall be issued as a Global Security and The Depository Trust Company, New York, New York shall be the initial Depository. The
Notes are not convertible into shares of common stock or other securities of the Company. 
 Section 1.02. Limitation on Liens 

(a) So long as any of the Notes remain outstanding, neither the Company nor any of the Company’s domestic wholly owned subsidiaries will create or
incur any mortgage, pledge, security interest or lien (each, a “Lien”) on any Principal Property, whether now owned or hereafter acquired, in order to secure any Indebtedness, without effectively providing that the Notes shall be
secured by a lien ranking equal to and ratably with (or, at the Company’s option, senior to) such secured Indebtedness until such time as such Indebtedness is no longer secured by such Lien, except that the foregoing restriction shall not apply
to: 
  

	 	(i)	Liens existing on the date hereof; 

  

	 	(ii)	Liens created or incurred after the date hereof created in favor of the holders of the Notes; 

  

	 	(iii)	Liens in favor of the Company or one of the Company’s subsidiaries; 

 (iv) (A) Liens
given to secure (or to secure Indebtedness incurred or guaranteed by the Company or any of its subsidiaries for the purpose of financing) the payment of all or any portion of the purchase price for the acquisition (including acquisition through
merger or consolidation or the acquisition of a Person directly or indirectly owning such property) of any replacement for the Principal Property, including capital lease or purchase money transactions in connection with any such acquisition, or all
or any portion of the cost of refurbishment, improvement, expansion, renovation, development or construction of any Principal Property; provided that with respect to this clause (A), the Liens shall be given prior to, at the time of or within 12
months after such acquisition, or completion of such refurbishment, improvement, 

  
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expansion, renovation, development or construction, or the full operation of such Principal Property, whichever is latest, and shall attach solely to such Principal Property (including any
refurbishments, improvements, expansions, renovations, development or construction thereof or then or thereafter placed thereon) and any proceeds thereof; and (B) Liens existing on all or any portion of any replacement for the Principal
Property at the time of acquisition thereof (including acquisition through merger or consolidation or the acquisition of a Person then directly or indirectly owning such property) whether or not such existing Liens were given to secure (or to secure
Indebtedness incurred or guaranteed by the Company or any of its subsidiaries for the purpose of financing) the payment of the purchase price of such property; 

(v) Liens on any Principal Property in favor of the United States of America or any state thereof, or in favor of any other country, or any
political subdivision, department, agency or instrumentality thereof to secure progress or other payments pursuant to any contract or statute or to secure Indebtedness incurred or guaranteed for the purpose of financing all or any portion of the
cost of acquiring, refurbishing, improving, expanding, renovating, developing or constructing such Principal Property, including Liens incurred in connection with pollution control, industrial revenue or similar financing; 

(vi) certain statutory or legislative Liens or other similar Liens (including pledges, deposits, carriers’, warehousemen’s,
mechanics’, materialmen’s, repairmen’s and other like Liens imposed by law) arising in the ordinary course of the Company’s or any of its subsidiary’s business, or certain Liens arising out of government contracts; 

(vii) Liens in connection with legal proceedings, including certain Liens arising out of judgments or awards; 

(viii) Liens for certain taxes or assessments, landlord’s Liens and Liens and charges incidental to the conduct of the business or the
ownership of the Company’s assets or those of any of its subsidiaries; 
 (ix) Liens incurred in connection with an acquisition of
assets or a project financed on a non-recourse basis; 
 (x) deposits to secure the performance of bids, trade contracts, leases, statutory
obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(xi) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the ordinary course
of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of the Company’s business; 

(xii) Liens existing on any property or asset prior to the acquisition thereof by the Company or any of its subsidiaries or existing on any
property or asset of any Person that becomes a subsidiary after the date hereof prior to the time such Person becomes a subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such

  
 10 

 
acquisition or such Person becoming a subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Company or any of its subsidiaries and
(iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a subsidiary, as the case may be, and extensions, renewals and replacements thereof that do not increase the
outstanding principal amount thereof; and 
 (xiii) Liens which are incurred to extend, renew, substitute, refinance, refund or replace (and
successive extensions, renewals, substitutions, refinancings, refundings or replacements) any Lien, or any Indebtedness which is secured by any Lien (including any premium required to be paid and costs and expenses incurred in connection with such
extensions, renewals, substitutions, refinancings, refundings or replacements), permitted to be created or incurred under the Indenture. 
 (b)
Notwithstanding the foregoing, the Company or any of its subsidiaries may, without equally and ratably securing the Notes, create or incur Liens which would otherwise be subject to the restrictions set forth in the preceding paragraph, if after
giving effect thereto, Aggregate Debt does not exceed 20% of the Company’s Consolidated Net Worth on a consolidated basis calculated as of the date of the creation or incurrence of the Lien. 

(c) As used herein: 
 “Aggregate
Debt” means, as of the date of determination, the aggregate principal amount of the Company’s and its domestic wholly owned subsidiaries’ Indebtedness incurred after the date hereof and secured by Liens not permitted by the first
paragraph in Section 1.02(a). 
 “Consolidated Net Worth” means, as of any date of determination,
shareholders’ equity as reflected on the Company’s most recent consolidated balance sheet prepared in accordance with GAAP. 

“GAAP” means accounting principles generally accepted in the United States of America, which are in effect as of the
date of application thereof. 
 “Indebtedness” of any specified Person means any indebtedness in respect of
borrowed money. 
 “Person” means any individual, corporation, partnership, joint venture, association,
limited liability company, joint- stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Principal Property” means the Company’s (1) principal offices in Roseland, New Jersey, or any replacement
thereof and (2) each of the Company’s domestic processing/print center buildings, other operational offices and sales offices unless, with respect to this clause (2), the Board of Directors has determined in good faith that such center or
office is not of material importance to the total business conducted by the Company and its wholly owned subsidiaries, taken as a whole. 

  
 11 

 Section 1.03. Form of Note.  

The form of the 2020 Notes is attached hereto as Exhibit A. The form of the 2025 Notes is attached hereto as Exhibit B. 

Section 1.04. Additional 2020 Notes.  

Subject to the terms and conditions contained herein, the Company may issue additional notes (the “Additional 2020 Notes”)
having the same ranking and the same interest rate, maturity and other terms as the 2020 Original Notes (except as otherwise described in the form of the 2020 Notes), without the consent of the holders of the 2020 Original Notes then Outstanding.
Any such Additional 2020 Notes will be a part of the series having the same terms as the 2020 Original Notes. The aggregate principal amount of the Additional 2020 Notes, if any, shall be unlimited. The 2020 Original Notes and the Additional 2020
Notes, if any, of such series shall constitute one series for all purposes under this First Supplemental Indenture, including, without limitation, amendments, waivers and redemptions, provided that, if any Additional 2020 Notes are not
fungible for U.S. federal income tax purposes with the 2020 Original Notes, such Additional 2020 Notes shall trade under a separate CUSIP number. 

Section 1.05. Additional 2025 Notes. 

Subject to the terms and conditions contained herein, the Company may issue additional notes (the “Additional 2025 Notes” and,
together with the Additional 2020 Notes, the “Additional Notes”) having the same ranking and the same interest rate, maturity and other terms as the 2025 Original Notes (except as otherwise described in the form of the 2025 Notes),
without the consent of the holders of the 2025 Original Notes then Outstanding. Any such Additional 2025 Notes will be a part of the series having the same terms as the 2025 Original Notes. The aggregate principal amount of the Additional 2025
Notes, if any, shall be unlimited. The 2025 Original Notes and the Additional 2025 Notes, if any, of such series shall constitute one series for all purposes under this First Supplemental Indenture, including, without limitation, amendments, waivers
and redemptions, provided that, if any Additional 2025 Notes are not fungible for U.S. federal income tax purposes with the 2025 Original Notes, such Additional 2025 Notes shall trade under a separate CUSIP number. 

ARTICLE 2 

MISCELLANEOUS 

Section 2.01. Definitions. 

Capitalized terms used but not defined in this First Supplemental Indenture shall have the meanings ascribed thereto in the Indenture. 

Section 2.02. Confirmation of Indenture. 

The Indenture, as supplemented and amended by this First Supplemental Indenture, is in all respects ratified and confirmed, and the Indenture,
this First Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 

  
 12 

 Section 2.03. Concerning the Trustee. 

The Trustee assumes no duties, responsibilities or liabilities by reason of this First Supplemental Indenture other than as set forth in the
Indenture and, in carrying out its responsibilities hereunder, shall have all of the rights, protections and immunities which it possesses under the Indenture. The Trustee makes no representations as to the validity or sufficiency of this First
Supplemental Indenture. The recitals herein are deemed to be those of the Company and not of the Trustee. 
 Section 2.04. Governing Law.

 Each of this First Supplemental Indenture, the Indenture and the Notes shall be deemed to be a contract made under the internal laws
of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 
 Section 2.05. Separability.

 In case any provision in this First Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 2.06.
Counterparts. 
 This First Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but
such counterparts shall together constitute but one and the same instrument. 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

			
	AUTOMATIC DATA PROCESSING, INC.
		
	By:	 	  

		 	Name: Michael A. Bonarti
		 	Title: Vice President

 
			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION
as Trustee

		
	 By:
	 	 
		 	 Name:

		 	 Title:

 Exhibit A 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY 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. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE
PROVISIONS OF THE INDENTURE AND THE TERMS OF THE SECURITIES AND EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.11 OF THE BASE INDENTURE, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR
ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
  

			
	Certificate No. [     ]	  	$[                    ]

 CUSIP No. 053015 AD5 
 ISIN
No. US053015AD56 
 AUTOMATIC DATA PROCESSING, INC. 

2.250% Senior Notes due 2020 

AUTOMATIC DATA PROCESSING, INC., a Delaware corporation (the “Company”, which term includes any successor corporation under
the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or its registered assigns, the principal sum of
[                    ] dollars
($[                    ]) (which aggregate principal amount may from time to time be increased or decreased to such other aggregate principal amounts
by adjustments made on the Schedule of Increases or Decreases in Global Security attached hereto) on September 15, 2020 and to pay interest on said principal sum from September 15, 2015 or from the most recent interest payment date (each
such date, an “Interest Payment Date”) to which interest has been paid or duly provided for semiannually on March 15 and September 15 of each year commencing March 15, 2016 at the rate of 2.250% per annum until
the principal hereof shall have become due and payable, and on any overdue principal and premium, if any, and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of
interest at the same rate per annum. The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year 

  
 A-1 

 
of twelve 30-day months. In the event that any date on which interest is payable on this Note is not a Business Day, then payment of interest payable on such date will be made on the next
succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay). The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the
Indenture (hereafter defined), be paid to the person in whose name this Note (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the regular record date for such interest installment which
shall be the March 1 or September 1 preceding such Interest Payment Date. Any such interest installment not punctually paid or duly provided for (as defined in the Indenture, the “Defaulted Interest”) shall forthwith cease
to be payable to the registered holders on such regular record date, and may be paid to the person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the
Trustee for the payment of such Defaulted Interest, which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment or
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. The
principal of (and premium, if any) and the interest on this Note shall be payable at the office or agency of the Trustee maintained for that purpose in any coin or currency of the United States of America which at the time of payment is legal tender
for payment of public and private debts; provided , however , that payment of interest may be made at the option of the Company by check mailed to the registered holder at such address as shall appear in the Security Register.
Notwithstanding the foregoing, so long as the registered holder of this Note is Cede & Co., the payment of the principal of (and premium, if any) and interest on this Note will be made at such place and to such account as may be designated
by DTC. 
 The indebtedness evidenced by this Note is, to the extent provided in the Indenture, senior and unsecured and will rank in right
of payment on parity with all other senior unsecured obligations of the Company. 
 This Note shall not be entitled to any benefit under the
Indenture hereinafter referred to or be valid until the Certificate of Authentication hereon shall have been signed manually by or on behalf of the Trustee. 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect
as though fully set forth at this place. 

  
 A-2 

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

Dated: September 15, 2015 
  

			
	AUTOMATIC DATA PROCESSING, INC.
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series of Notes described in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL

    ASSOCIATION, as Trustee

		
	By:	 	 
		 	 Name:

		 	 Title:

	
	Dated: September 15, 2015

  
 A-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby 

sells, assigns and transfers to 
  

 
 (Insert Social Security number or
other identifying number of assignee) 
  
  

(Please print or typewrite name and address, including zip code of assignee) 

 
  

the within Note of Automatic Data Processing, Inc. and hereby does irrevocably constitute and appoint 

 
  

Attorney to transfer said Note on the books of the within-named Company with full power of substitution in the premises. 

 

							
	Dated::	 	 	 		 	 
				
		 	 	 		 	

 Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and
credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15. 

NOTICE: The signature to this assignment must correspond with the name as it appears on the first page of the within Note in every particular, without
alteration or enlargement or any change whatever. 

  
 A-5 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

AUTOMATIC DATA PROCESSING, INC. 

2.250% Senior Notes due 2020 
 The initial
aggregate principal amount of this Global Security is $[                    ]. The following increases or decreases in this Global Security have been
made: 
 No:              

 

							
	 Date
	  	Principal Amount of this
Global Security	  	Notation Explaining
Principal Amount Recorded	  	Signature of authorized
signatory of Trustee or
Depositary

  
 A-6 

 AUTOMATIC DATA PROCESSING, INC. 

2.250% Senior Notes due 2020 

This Note is one of a duly authorized series of Securities (referred to in the Base Indenture (hereafter defined)), of the Company (herein
sometimes referred to as the “Notes”), all such Securities issued or to be issued in one or more series under and pursuant to an indenture (the “Base Indenture”), dated as of September 15, 2015 between the
Company and Wells Fargo, National Association, as Trustee (the “Trustee”), as supplemented in the case of the Notes by the First Supplemental Indenture, dated as of September 15, 2015, between the Company and the Trustee (the
Base Indenture, as so supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto 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 Notes. This series of Notes is initially limited in aggregate principal amount as specified in said First Supplemental Indenture. This series of Notes and any Additional Notes of this
series shall constitute one series for all purposes under the Indenture, including without limitation, amendments, waivers and redemptions. The terms and conditions of this series of Notes and any Additional Notes of this series (other than the
issue price, the date of issuance, the payment of interest accruing prior to the issue date of the Additional Notes and the first payment of interest following such issue date) shall be the same and shall bear the same CUSIP number, provided
that, if any Additional Notes are not fungible for U.S. federal income tax purposes with this series of Notes, such Additional Notes shall trade under a separate CUSIP number. 

The Notes may be redeemed in whole at any time or in part from time to time, at the option of the Company. The redemption price (the
“Redemption Price”) of the Notes to be redeemed shall be calculated as follows, plus, in each case, accrued and unpaid interest on the principal amount being redeemed to but excluding the redemption date: 

(a) If the redemption date is prior to August 15, 2020, the Notes to be redeemed may be redeemed by the Company at a Redemption Price
equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal of and interest on the Notes to be redeemed (exclusive of interest
accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 12.5 basis points. 

(b) If the redemption date is on or after August 15, 2020, the Notes to be redeemed may be redeemed by the Company at a Redemption Price
equal to 100% of the principal amount of the Notes to be redeemed. 

  
 A-7 

 In case the Company shall desire to exercise such right to redeem all or, as the case may be, a
portion of the Notes, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Notes to be redeemed by mailing, first class postage prepaid, a notice of such redemption not less than 30 days and not more
than 60 days before the date fixed for redemption to such holders at their last addresses as they shall appear upon the Security Register. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the registered holder received the notice. In any case, failure duly to give such notice to the holder of any Note designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Note. 
 Each such notice of redemption shall specify the series and amount of Notes to be
redeemed, the date fixed for redemption, the CUSIP or ISIN number(s) of such Notes and the applicable Redemption Price at which the Notes to be redeemed are to be redeemed, and shall state that payment of the Redemption Price of such Notes to be
redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Notes, that interest accrued to the date fixed for redemption will be paid as specified
in said notice and, that from and after said date interest will cease to accrue; except that interest shall continue to accrue on any such Note or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and
accrued interest. If less than all the Notes are to be redeemed, the notice to the holders of the Notes to be redeemed in whole or in part shall specify the particular Notes to be redeemed. In case any Note is to be redeemed in part only, the notice
that relates to such Note shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such security, a new Note in principal amount equal to the unredeemed portion
thereof will be issued. 
 If the Trustee is to provide notice to the holders of the Notes as described herein, for a partial or full
redemption, the Company shall give the Trustee at least 45 days’ notice in advance of the date fixed for redemption as to the aggregate principal amount of Notes to be redeemed, and thereupon, in the case of a partial redemption, the Trustee
shall select, by lot or in such other manner as it shall deem appropriate (in accordance with the DTC’s customary procedures) and that may provide for the selection of a portion or portions (equal to two thousand U.S. dollars ($2,000) or
integral multiples of one thousand U.S. dollars ($1,000) in excess thereof) of the principal amount of such Notes of a denomination larger than $2,000, the Notes to be redeemed and shall thereafter promptly notify the Company in writing of the
numbers of the Notes to be redeemed, in whole or in part. 
 The Company may, if and whenever it shall so elect, by delivery of instructions
signed on its behalf by an Authorized Officer, instruct the Trustee or any paying agent to call all or any part of the Notes for redemption and to give notice of redemption in the manner set forth in this Note, such notice to be in the name of the
Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or

  
 A-8 

 
permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to
enable the Trustee or such paying agent to give any notice that may be required under the provisions stated herein. 
 Subject to
Section 2.11 of the Base Indenture with respect to any Global Security, the Company shall not be required (i) to issue, register the transfer of or exchange any Notes during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of the Notes selected for redemption and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any Notes so selected for redemption in whole or
in part, except the unredeemed portion of any such Notes being redeemed in part. 
 If the giving of notice of redemption shall have been
completed as above provided, the Notes or portions of the Notes to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable Redemption Price, and interest on such Notes
shall cease to accrue on and after the date fixed for redemption, except that interest shall continue to accrue on any such Notes or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and accrued
interest. 
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a
majority in aggregate principal amount of the Securities of all of the series at the time Outstanding affected thereby (all such series voting together as a single class), as defined in the Indenture, to execute supplemental indentures for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Base Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Notes; provided, however,
that no such supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby (i) extend the fixed maturity of any Securities, including the Notes, or reduce the principal amount thereof,
or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, or (ii) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such
supplemental indenture. The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding affected thereby (all such series voting together as a single
class), to waive any past default in the performance of any of the covenants contained in the Base Indenture, or established pursuant to the Base Indenture with respect to such series, and its consequences, except a default in the payment of the
principal of or premium, if any, or interest on any Securities, including the Notes, in which case, each such affected series shall vote as a separate class. Any such consent or waiver by the registered holder of this Note (unless revoked as
provided in the Base Indenture) shall be conclusive and binding upon such holder and upon all future holders and owners of this Note and of any Note issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise),
irrespective of whether or not any notation of such consent or waiver is made upon this Note. 

  
 A-9 

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

The Company is subject to certain covenants contained in the Indenture with respect to, and for the benefit of the holders of, the Notes. The
Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with the covenants contained in the Indenture or with respect to reports or other documents filed under the Indenture;
provided, however, that nothing herein shall relieve the Trustee of any obligations to monitor the Company’s timely delivery of all reports and certificates required under Section 5.01 and Section 5.03 of the Base Indenture
and to fulfill its obligations under Article VII of the Indenture. If an Event of Default as defined in the Indenture with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the
manner and with the effect provided in the Indenture. 
 As provided in and subject to the provisions of the Indenture, the holder of this
Note shall not have the right to institute any action, suit or 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 Notes, the holders of not less than 25% in principal amount of the Outstanding Notes (in the case of an Event of Default described in clauses (a)(i) or (a)(ii) of Section 6.01
of the Base Indenture, each such series voting as a separate class, and in the case of an Event of Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of Section 6.01 of the Base Indenture, all affected series voting together as a
single class) shall have made written request to the Trustee to institute such action, suit or proceedings in respect of such Event of Default as Trustee and offered to the Trustee such indemnity reasonably satisfactory to it against the costs,
expenses and liabilities to be incurred therein or thereby and the Trustee shall have failed to institute any such action, suit or proceeding for 60 days after receipt of such notice, request and offer of indemnity and the holders of a majority
in principal amount of the Notes at the time Outstanding (voting as provided in Section 6.04(b) of the Base Indenture) have not given the Trustee a direction inconsistent with such request. The foregoing shall not apply to any suit instituted
by the holder of this Note for the enforcement of any payment of principal hereof or any interest on or after the respective due dates expressed herein. 

As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable by the registered holder hereof
on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, the City and State of New York accompanied by a written instrument or
instruments of transfer in form satisfactory to the Company or the Trustee duly executed by the 

  
 A-10 

 
registered holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount and series will be
issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 

Prior to due presentment for registration of transfer of this Note, the Company, the Trustee, any paying agent and any Security Registrar may
deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone other than the Security Registrar) for the purpose of
receiving payment of or on account of the principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Note Registrar shall be affected by any notice
to the contrary. 
 No recourse shall be had for the payment of the principal of or the interest on this Note, or for any claim based
hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether
by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and
released. 
 The Notes are issuable only in registered form without coupons in authorized denominations. As provided in the Indenture and
subject to certain limitations herein and therein set forth, Notes so issued are exchangeable for a like aggregate principal amount of Notes of a different authorized denomination, as requested by the holder surrendering the same. 

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

EACH OF THE FIRST SUPPLEMENTAL INDENTURE, THE INDENTURE AND THE NOTES, INCLUDING THIS NOTE, SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE
INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE. 
 Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused “CUSIP” numbers to be printed on the Notes as a convenience to the holders of the Notes. No representation is made as to the
correctness or accuracy of such CUSIP numbers as printed on the Notes, and reliance may be placed only on the other identification numbers printed hereon. 

  
 A-11 

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

  
 A-12 

 Exhibit B 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY 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. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE
PROVISIONS OF THE INDENTURE AND THE TERMS OF THE SECURITIES AND EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.11 OF THE BASE INDENTURE, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR
ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
  

			
	Certificate No. [    ]	  	$[                    ]

 CUSIP No. 053015 AE3 
 ISIN
No. US053015AE30 
 AUTOMATIC DATA PROCESSING, INC. 

3.375% Senior Notes due 2025 

AUTOMATIC DATA PROCESSING, INC., a Delaware corporation (the “Company”, which term includes any successor corporation under
the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or its registered assigns, the principal sum of [            ] dollars
($[            ]) (which aggregate principal amount may from time to time be increased or decreased to such other aggregate principal amounts by adjustments made on the Schedule of
Increases or Decreases in Global Security attached hereto) on September 15, 2025 and to pay interest on said principal sum from September 15, 2015 or from the most recent interest payment date (each such date, an “Interest Payment
Date”) to which interest has been paid or duly provided for semiannually on March 15 and September 15 of each year commencing March 15, 2016 at the rate of 3.375% per annum until the principal hereof shall have become
due and payable, and on any overdue principal and premium, if any, and (without duplication and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum. The
amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year 

  
 B-1 

 
of twelve 30-day months. In the event that any date on which interest is payable on this Note is not a Business Day, then payment of interest payable on such date will be made on the next
succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay). The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the
Indenture (hereafter defined), be paid to the person in whose name this Note (or one or more Predecessor Securities, as defined in said Indenture) is registered at the close of business on the regular record date for such interest installment which
shall be the March 1 or September 1 preceding such Interest Payment Date. Any such interest installment not punctually paid or duly provided for (as defined in the Indenture, the “Defaulted Interest”) shall forthwith cease
to be payable to the registered holders on such regular record date, and may be paid to the person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the
Trustee for the payment of such Defaulted Interest, which shall not be more than 15 nor less than 10 days prior to the date of the proposed payment, and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment or
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. The
principal of (and premium, if any) and the interest on this Note shall be payable at the office or agency of the Trustee maintained for that purpose in any coin or currency of the United States of America which at the time of payment is legal tender
for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered holder at such address as shall appear in the Security Register.
Notwithstanding the foregoing, so long as the registered holder of this Note is Cede & Co., the payment of the principal of (and premium, if any) and interest on this Note will be made at such place and to such account as may be designated
by DTC. 
 The indebtedness evidenced by this Note is, to the extent provided in the Indenture, senior and unsecured and will rank in right
of payment on parity with all other senior unsecured obligations of the Company. 
 This Note shall not be entitled to any benefit under the
Indenture hereinafter referred to or be valid until the Certificate of Authentication hereon shall have been signed manually by or on behalf of the Trustee. 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect
as though fully set forth at this place. 

  
 B-2 

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

Dated: September 15, 2015 
  

			
	 AUTOMATIC DATA PROCESSING, INC.

		
	 By:
	 	 
		 	 Name: Michael A. Bonarti

		 	 Title: Vice President

  
 B-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series of Notes described in the within-mentioned Indenture. 

 

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

		
	 By:
	 	  

		 	 Name:

		 	 Title:

	
	Dated: September 15, 2015

  

  
 B-4 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby 

sells, assigns and transfers to 
  

 
 (Insert Social Security number or
other identifying number of assignee) 
  
  

(Please print or typewrite name and address, including zip code of assignee) 

 
  

the within Note of Automatic Data Processing, Inc. and hereby does irrevocably constitute and appoint 

 
  

Attorney to transfer said Note on the books of the within-named Company with full power of substitution in the premises. 

 

							
	Dated::	  	 	  		  	 
				
		  	 	  		  	

 Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and
credit unions) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15. 

NOTICE: The signature to this assignment must correspond with the name as it appears on the first page of the within Note in every particular, without
alteration or enlargement or any change whatever. 

  
 B-5 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

AUTOMATIC DATA PROCESSING, INC. 

3.375% Senior Notes due 2025 
 The initial
aggregate principal amount of this Global Security is $[            ]. The following increases or decreases in this Global Security have been made: 

No: 
  

							
	 Date
	  	 Principal Amount of this

Global Security
	  	 Notation Explaining

Principal Amount Recorded
	  	 Signature of authorized

signatory of Trustee or

Depositary

  
 B-6 

 AUTOMATIC DATA PROCESSING, INC. 

3.375% Senior Notes due 2025 

This Note is one of a duly authorized series of Securities (referred to in the Base Indenture (hereafter defined)), of the Company (herein
sometimes referred to as the “Notes”), all such Securities issued or to be issued in one or more series under and pursuant to an indenture (the “Base Indenture”), dated as of September 15, 2015 between the
Company and Wells Fargo, National Association, as Trustee (the “Trustee”), as supplemented in the case of the Notes by the First Supplemental Indenture, dated as of September 15, 2015, between the Company and the Trustee (the
Base Indenture, as so supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto 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 Notes. This series of Notes is initially limited in aggregate principal amount as specified in said First Supplemental Indenture. This series of Notes and any Additional Notes of this
series shall constitute one series for all purposes under the Indenture, including without limitation, amendments, waivers and redemptions. The terms and conditions of this series of Notes and any Additional Notes of this series (other than the
issue price, the date of issuance, the payment of interest accruing prior to the issue date of the Additional Notes and the first payment of interest following such issue date) shall be the same and shall bear the same CUSIP number, provided
that, if any Additional Notes are not fungible for U.S. federal income tax purposes with this series of Notes, such Additional Notes shall trade under a separate CUSIP number. 

The Notes may be redeemed in whole at any time or in part from time to time, at the option of the Company. The redemption price (the
“Redemption Price”) of the Notes to be redeemed shall be calculated as follows, plus, in each case, accrued and unpaid interest on the principal amount being redeemed to but excluding the redemption date: 

(a) If the redemption date is prior to June 15, 2025, the Notes to be redeemed may be redeemed by the Company at a Redemption Price equal
to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal of and interest on the Notes to be redeemed (exclusive of interest
accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 20 basis points. 

(b) If the redemption date is on or after June 15, 2025, the Notes to be redeemed may be redeemed by the Company at a Redemption Price
equal to 100% of the principal amount of the Notes to be redeemed. 

  
 B-7 

 In case the Company shall desire to exercise such right to redeem all or, as the case may be, a
portion of the Notes, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Notes to be redeemed by mailing, first class postage prepaid, a notice of such redemption not less than 30 days and not more
than 60 days before the date fixed for redemption to such holders at their last addresses as they shall appear upon the Security Register. Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly
given, whether or not the registered holder received the notice. In any case, failure duly to give such notice to the holder of any Note designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Note. 
 Each such notice of redemption shall specify the series and amount of Notes to be
redeemed, the date fixed for redemption, the CUSIP or ISIN number(s) of such Notes and the applicable Redemption Price at which the Notes to be redeemed are to be redeemed, and shall state that payment of the Redemption Price of such Notes to be
redeemed will be made at the office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Notes, that interest accrued to the date fixed for redemption will be paid as specified
in said notice and, that from and after said date interest will cease to accrue; except that interest shall continue to accrue on any such Note or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and
accrued interest. If less than all the Notes are to be redeemed, the notice to the holders of the Notes to be redeemed in whole or in part shall specify the particular Notes to be redeemed. In case any Note is to be redeemed in part only, the notice
that relates to such Note shall state the portion of the principal amount thereof to be redeemed, and shall state that on and after the redemption date, upon surrender of such security, a new Note in principal amount equal to the unredeemed portion
thereof will be issued. 
 If the Trustee is to provide notice to the holders of the Notes as described herein, for a partial or full
redemption, the Company shall give the Trustee at least 45 days’ notice in advance of the date fixed for redemption as to the aggregate principal amount of Notes to be redeemed, and thereupon, in the case of a partial redemption, the Trustee
shall select, by lot or in such other manner as it shall deem appropriate (in accordance with the DTC’s customary procedures) and that may provide for the selection of a portion or portions (equal to two thousand U.S. dollars ($2,000) or
integral multiples of one thousand U.S. dollars ($1,000) in excess thereof) of the principal amount of such Notes of a denomination larger than $2,000, the Notes to be redeemed and shall thereafter promptly notify the Company in writing of the
numbers of the Notes to be redeemed, in whole or in part. 
 The Company may, if and whenever it shall so elect, by delivery of instructions
signed on its behalf by an Authorized Officer, instruct the Trustee or any paying agent to call all or any part of the Notes for redemption and to give notice of redemption in the manner set forth in this Note, such notice to be in the name of the
Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or

  
 B-8 

 
permit to remain with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to
enable the Trustee or such paying agent to give any notice that may be required under the provisions stated herein. 
 Subject to
Section 2.11 of the Base Indenture with respect to any Global Security, the Company shall not be required (i) to issue, register the transfer of or exchange any Notes during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of the Notes selected for redemption and ending at the close of business on the day of such mailing, or (ii) to register the transfer of or exchange any Notes so selected for redemption in whole or
in part, except the unredeemed portion of any such Notes being redeemed in part. 
 If the giving of notice of redemption shall have been
completed as above provided, the Notes or portions of the Notes to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable Redemption Price, and interest on such Notes
shall cease to accrue on and after the date fixed for redemption, except that interest shall continue to accrue on any such Notes or portion thereof with respect to which the Company defaults in the payment of such Redemption Price and accrued
interest. 
 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the holders of not less than a
majority in aggregate principal amount of the Securities of all of the series at the time Outstanding affected thereby (all such series voting together as a single class), as defined in the Indenture, to execute supplemental indentures for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Base Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of the Notes; provided, however,
that no such supplemental indenture shall, without the consent of the holders of each Security then Outstanding and affected thereby (i) extend the fixed maturity of any Securities, including the Notes, or reduce the principal amount thereof,
or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, or (ii) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such
supplemental indenture. The Indenture also contains provisions permitting the holders of a majority in aggregate principal amount of the Securities of all series at the time Outstanding affected thereby (all such series voting together as a single
class), to waive any past default in the performance of any of the covenants contained in the Base Indenture, or established pursuant to the Base Indenture with respect to such series, and its consequences, except a default in the payment of the
principal of or premium, if any, or interest on any Securities, including the Notes, in which case, each such affected series shall vote as a separate class. Any such consent or waiver by the registered holder of this Note (unless revoked as
provided in the Base Indenture) shall be conclusive and binding upon such holder and upon all future holders and owners of this Note and of any Note issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise),
irrespective of whether or not any notation of such consent or waiver is made upon this Note. 

  
 B-9 

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

The Company is subject to certain covenants contained in the Indenture with respect to, and for the benefit of the holders of, the Notes. The
Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s compliance with the covenants contained in the Indenture or with respect to reports or other documents filed under the Indenture;
provided, however, that nothing herein shall relieve the Trustee of any obligations to monitor the Company’s timely delivery of all reports and certificates required under Section 5.01 and Section 5.03 of the Base Indenture
and to fulfill its obligations under Article VII of the Indenture. If an Event of Default as defined in the Indenture with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and payable in the
manner and with the effect provided in the Indenture. 
 As provided in and subject to the provisions of the Indenture, the holder of this
Note shall not have the right to institute any action, suit or 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 Notes, the holders of not less than 25% in principal amount of the Outstanding Notes (in the case of an Event of Default described in clauses (a)(i) or (a)(ii) of Section 6.01
of the Base Indenture, each such series voting as a separate class, and in the case of an Event of Default described in clauses (a)(iii), (a)(iv), (a)(v) or (a)(vi) of Section 6.01 of the Base Indenture, all affected series voting together as a
single class) shall have made written request to the Trustee to institute such action, suit or proceedings in respect of such Event of Default as Trustee and offered to the Trustee such indemnity reasonably satisfactory to it against the costs,
expenses and liabilities to be incurred therein or thereby and the Trustee shall have failed to institute any such action, suit or proceeding for 60 days after receipt of such notice, request and offer of indemnity and the holders of a majority
in principal amount of the Notes at the time Outstanding (voting as provided in Section 6.04(b) of the Base Indenture) have not given the Trustee a direction inconsistent with such request. The foregoing shall not apply to any suit instituted
by the holder of this Note for the enforcement of any payment of principal hereof or any interest on or after the respective due dates expressed herein. 

As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable by the registered holder hereof
on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, the City and State of New York accompanied by a written instrument or
instruments of transfer in form satisfactory to the Company or the Trustee duly executed by the 

  
 B-10 

 
registered holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount and series will be
issued to the designated transferee or transferees. No service charge will be made for any such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 

Prior to due presentment for registration of transfer of this Note, the Company, the Trustee, any paying agent and any Security Registrar may
deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone other than the Security Registrar) for the purpose of
receiving payment of or on account of the principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Note Registrar shall be affected by any notice
to the contrary. 
 No recourse shall be had for the payment of the principal of or the interest on this Note, or for any claim based
hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether
by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and
released. 
 The Notes are issuable only in registered form without coupons in authorized denominations. As provided in the Indenture and
subject to certain limitations herein and therein set forth, Notes so issued are exchangeable for a like aggregate principal amount of Notes of a different authorized denomination, as requested by the holder surrendering the same. 

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

EACH OF THE FIRST SUPPLEMENTAL INDENTURE, THE INDENTURE AND THE NOTES, INCLUDING THIS NOTE, SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE
INTERNAL LAWS OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE. 
 Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused “CUSIP” numbers to be printed on the Notes as a convenience to the holders of the Notes. No representation is made as to the
correctness or accuracy of such CUSIP numbers as printed on the Notes, and reliance may be placed only on the other identification numbers printed hereon. 

  
 B-11 

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

  
 B-12

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