Document:

exv4w1

Exhibit 4.1

JOHNSON & JOHNSON

COMPANY ORDER

Pursuant to the authorization of the Board of Directors of Johnson & Johnson, a New Jersey
corporation (the “Company”), in resolutions adopted on February 15, 2011, the undersigned, being
duly authorized, hereby approve the issuance of one or more Notes of the Company, with the terms
and provisions as described below, pursuant to and further subject to an Indenture dated as of
September 15, 1987, by and between the Company and The Bank of New York Mellon Trust Company, N.A.
(as successor to BNY Midwest Trust Company, which succeeded Harris Trust and Savings Bank), as
supplemented by the First Supplemental Indenture dated as of September 1, 1990.

	 	 	 

	TITLE:

	 	3 month LIBOR 2 Year FRN due May 15, 2013 (the “FRN 2
Year Notes”)
	 
	 	 
	 

	 	3 month LIBOR 3 Year FRN due May 15, 2014 (the “FRN 3
Year Notes”)
	 
	 	 
	 

	 	1.20% Notes due May 15, 2014 (the “1.20% Notes”)
	 
	 	 
	 

	 	2.15% Notes due May 15, 2016 (the “2.15% Notes”)
	 
	 	 
	 

	 	3.55% Notes due May 15, 2021(the “3.55% Notes”)
	 
	 	 
	 

	 	4.85% Notes due May 15, 2041 (the “4.85% Notes” and
collectively with the FRN 2 Year Notes, the FRN 3 Year
Notes, the 1.20% Notes, the 2.15% Notes, and the 3.55%
notes, the “Notes”)
	 
	 	 
	PRINCIPAL AMOUNT:

	 	$500 million of the FRN 2 Year Notes
	 
	 	 
	 

	 	$600 million of the FRN 3 Year Notes
	 
	 	 
	 

	 	$1,000 million of the 1.20% Notes
	 
	 	 
	 

	 	$900 million of the 2.15% Notes
	 
	 	 
	 

	 	$450 million of the 3.55%Notes
	 
	 	 
	 

	 	$300 million of the 4.85% Notes
	 
	 	 
	FLOATING INTEREST RATE:
NOTES

	 	3 month LIBOR per quarter on the FRN 2 Year Notes
	 
	 	 
	 

	 	3 month LIBOR + 9 BPs per quarter on the FRN 3 Year Notes

1

 

	 	 	 

	 

	 	in each case payable quarterly on August 15, November 15, February
15 and May 15 of each year, commencing August 15, 2011, to the
holders of record at the close of business on August 1, November
1, February 1 and May 1 next preceding such interest payment
dates.
	 
	 	 
	FIXED INTEREST RATE:
NOTES

	 	1.20% per annum on the 1.20% Notes
	 
	 	 
	 

	 	2.15% per annum on the 2.15% Notes
	 
	 	 
	 

	 	3.55% per annum on the 3.55% Notes
	 
	 	 
	 

	 	4.85% per annum on the 4.85% Notes,
	 
	 	 
	 

	 	in each case payable semiannually on November 15 and May 15 of
each year, commencing November 15, 2011, to the holders of record
at the close of business on November 1 and May 1 next preceding
such interest payment dates.
	 
	 	 
	MATURITY DATE:

	 	May 15, 2013 for the FRN 2 Year Notes
	 
	 	 
	 

	 	May 15, 2014 for the FRN 3 Year Notes
	 
	 	 
	 

	 	May 15, 2014 for the 1.20% Notes
	 
	 	 
	 

	 	May 15, 2016 for the 2.15% Notes
	 
	 	 
	 

	 	May 15, 2021 for the 3.55% Notes
	 
	 	 
	 

	 	May 15, 2041 for the 4.85% Notes
	 
	 	 
	OFFERING PRICE:

	 	FRN 2 Year Notes: 100% of the principal amount plus
accrued interest, if any, from May 20, 2011 to the date of
closing
	 
	 	 
	 

	 	FRN 3 Year Notes: 100% of the principal amount plus
accrued interest, if any, from May 20, 2011 to the date of closing
	 
	 	 
	 

	 	1.20% Notes: 99.883% of the principal amount plus accrued
interest, if any, from May 20, 2011 to the date of closing
	 
	 	 
	 

	 	2.15% Notes: 99.695% of the principal amount plus accrued
interest, if any, from May 20, 2011 to the date of closing
	 
	 	 
	 

	 	3.55% Notes: 99.038% of the principal amount plus accrued
interest, if any, from May 20, 2011 to the date of closing
	 
	 	 
	 

	 	4.85% Notes: 99.344% of the principal amount plus accrued
interest, if any, from May 20, 2011 to the date of closing

2

 

	 	 	 

	PLAN OF DISTRIBUTION:

	 	A public offering underwritten by J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith,
Incorporated; RBS Securities Inc., Citigroup Global Markets Inc.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; BNP Paribas
Securities Corp.; Mitsubishi UFJ Securities (USA), Inc.; HSBC Securities (USA) Inc.; The Williams Capital Group, L.P.; Santander
Investment Securities, Inc., Banco Bilbao Vizcaya Argentaria S.A.; and RBC Capital Markets, LLC.
	 
	 	 
	UNDERWRITING DISCOUNT:

	 	0.175% of the principal amount for the FRN 2 Year Notes
	 
	 	 
	 

	 	0.250% of the principal amount for the FRN 3 Year Notes
	 
	 	 
	 

	 	0.250% of the principal amount for the 1.20% Notes
	 
	 	 
	 

	 	0.350% of the principal amount for the 2.15% Notes
	 
	 	 
	 

	 	0.450% of the principal amount for the 3.55% Notes
	 
	 	 
	 

	 	0.875% of the principal amount for the 4.85% Notes
	 
	 	 
	FLOATING NOTE OPTIONAL
REDEMPTION:

	 	None
	 
	 	 
	FIXED NOTE OPTIONAL
REDEMPTION:

	 	Yes, as set forth in the forms of the Notes
	 
	 	 
	MANDATORY REDEMPTION:

	 	None
	 
	 	 
	LISTING:

	 	None
	 
	 	 
	PLACE AND MANNER OF
PAYMENT:

	 	The principal of and interest on the Notes will be payable as set forth in the forms of the Notes.
	 
	 	 
	DENOMINATIONS:

	 	Minimum denomination of $2,000 and additional increments of $1,000
	 
	 	 
	EVENTS OF DEFAULT:

	 	As set forth in the forms of the Notes
	 
	 	 
	CURRENCY:

	 	Payable in U.S. dollars
	 
	 	 
	SECURITY:

	 	The Notes will be issued in the form of Global Securities, which will be deposited with, or on
behalf of, the Depositary.
	 
	 	 
	DEPOSITARY:

	 	The Depository Trust Company, New York.

[Signature Page to Follow]

3

 

	 	 	 	 	 
	 	 	 
	 	     /s/ Dominic J. Caruso
 	 
	 	Name:  	Dominic J. Caruso 	 
	 	Title:  	Vice President, Finance and Chief Financial Officer 	 
	 
	 	 	 
	 	                /s/ Russell C. Deyo
 	 
	 	Name:  	Russell C. Deyo 	 
	 	Title:  	Vice President, General Counsel 	 
	 
	 	 	 
	 	                           /s/ John A. Papa
 	 
	 	Name:  	John A. Papa 	 
	 	Title:  	Treasurer 	 
	 

Effective Date: May 17, 2011

4

 

JOHNSON & JOHNSON

COMPANY ORDER

Pursuant to the authorization of the Board of Directors of Johnson & Johnson, a New Jersey
corporation (the “Company”), in resolutions adopted on February 15, 2011, the undersigned, being
duly authorized, hereby approve the issuance of one or more Notes of the Company, with the terms
and provisions as described below, pursuant to and further subject to an Indenture dated as of
September 15, 1987, by and between the Company and The Bank of New York Mellon Trust Company, N.A.
(as successor to BNY Midwest Trust Company, which succeeded Harris Trust and Savings Bank), as
supplemented by the First Supplemental Indenture dated as of September 1, 1990.

This additional Company Order is required because (i) the aggregate principal amount of FRN 3 Year
Notes that was offered on May 17, 2011 has been increased from $600,000,000 to $750,000,000 and
(ii) the Company has determined to offer an aggregate amount of $500,000,000 of its 0.70% Fixed
Rate Notes due May 15, 2013.

	 	 	 

	TITLE:

	 	3 month LIBOR 3 Year FRN due May 15, 2014 (the “FRN 3
Year Notes”)
	 
	 	 
	 

	 	0.70% Notes due May 15, 2013 (the “0.70% Notes”)
	 
	 	 
	 

	 	(the FRN 3 Year Notes and the 0.70% Notes, the “Notes”)
	 
	 	 
	PRINCIPAL AMOUNT:

	 	$750 million of the FRN 3 Year Notes
	 
	 	 
	 

	 	$500 million of the 0.70% Notes
	 
	 	 
	FLOATING INTEREST RATE: NOTES

	 	3 month LIBOR + 9 BPs per quarter on the FRN 3 Year Notes payable quarterly on August 15, November 15, February 15 and May 15 of each year, commencing
August 15, 2011, to the holders of record at the close of business on August 1, November 1,
February 1 and May 1 next preceding such interest payment dates.
	 
	 	 
	FIXED INTEREST RATE: NOTES

	 	0.70% per annum on the 0.70% Notes in each case payable semi-annually on November 15 and May 15 of each year,
commencing November 15, 2011, to the holders of record at
the close of business on November 1 and May 1 next
preceding such interest payment dates.
	 
	 	 
	MATURITY DATE:

	 	May 15, 2014 for the FRN 3 Year Notes
	 
	 	 
	 

	 	May 15, 2013 for the 0.70% Notes
	 
	 	 
	OFFERING PRICE:

	 	FRN 3 Year Notes: 100% of the principal amount plus
accrued interest, if any, from May 20, 2011 to the date of
closing

5

 

	 	 	 

	 

	 	0.70% Notes: 99.902% of the principal amount plus accrued
interest, if any, from May 20, 2011 to the date of closing
	 
	 	 
	PLAN OF DISTRIBUTION:

	 	A public offering underwritten by J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith,
Incorporated; RBS Securities Inc., Citigroup Global Markets Inc.; Deutsche Bank Securities Inc.; Goldman, Sachs & Co.; BNP Paribas
Securities Corp.; Mitsubishi UFJ Securities (USA), Inc.; HSBC Securities (USA) Inc.; The Williams Capital Group, L.P.; Santander
Investment Securities, Inc., Banco Bilbao Vizcaya Argentaria S.A.; and RBC Capital Markets, LLC.
	 
	 	 
	UNDERWRITING DISCOUNT:

	 	0.250% of the principal amount for the FRN 3 Year Notes
	 
	 	 
	 

	 	0.175% of the principal amount for the 0.70% Notes
	 
	 	 
	FLOATING NOTE OPTIONAL
REDEMPTION:

	 	None
	 
	 	 
	FIXED NOTE OPTIONAL
REDEMPTION:

	 	None
	 
	 	 
	MANDATORY REDEMPTION:

	 	None
	 
	 	 
	LISTING:

	 	None
	 
	 	 
	PLACE AND MANNER OF
PAYMENT:

	 	The principal of and interest on the Notes will be payable as
set forth in the forms of the Notes.
	 
	 	 
	DENOMINATIONS:

	 	Minimum denomination of $2,000 and additional increments of $1,000
	 
	 	 
	EVENTS OF DEFAULT:

	 	As set forth in the forms of the Notes
	 
	 	 
	CURRENCY:

	 	Payable in U.S. dollars
	 
	 	 
	SECURITY:

	 	The Notes will be issued in the form of Global Securities, which will be deposited with, or on
behalf of, the Depositary.
	 
	 	 
	DEPOSITARY:

	 	The Depository Trust Company, New York.

[Signature Page to Follow]

6

 

	 	 	 	 	 
	 	 	 
	 	     /s/ Dominic J. Caruso
 	 
	 	Name:  	Dominic J. Caruso 	 
	 	Title:  	Vice President, Finance and Chief Financial Officer 	 
	 
	 	 	 
	 	               /s/ Russell C. Deyo
 	 
	 	Name:  	Russell C. Deyo 	 
	 	Title:  	Vice President, General Counsel 	 
	 
	 	 	 
	 	                          /s/ John A. Papa
 	 
	 	Name:  	John A. Papa 	 
	 	Title:  	Treasurer 	 
	 

Effective Date: May 18, 2011

7exv4w2

Exhibit 4.2

[FORM OF FLOATING RATE NOTE]

			
	 	 	 
	CUSIP NO. [•]
	 	PRINCIPAL AMOUNT: $[•]

REGISTERED NO. [•]

JOHNSON & JOHNSON

FLOATING RATE NOTE DUE 20[•]

     Unless this certificate is presented by an authorized representative of The Depository Trust
Company (55 Water Street, New York, New York) 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 such other name as requested by an authorized representative of The Depository Trust Company
(and any payment is made to CEDE & CO. or to such other entity as is requested by an authorized
representative of The Depository Trust Company), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL as the registered owner hereof, CEDE & Co., has an
interest herein.

     The following summary of terms is subject to the information set forth on the reverse hereof:

	 	 	 

	ORIGINAL ISSUE DATE:

	 	May 20, 2011
	 
	 	 
	MATURITY DATE:

	 	[•]
	 
	 	 
	INTEREST RATE:

	 	Three Month USD LIBOR plus [•] bps
	 
	 	 
	INTEREST PAYMENT DATES:

	 	February 15, May 15, August 15, and November 15
	 
	 	 
	RECORD DATES:

	 	February 1, May 1, August 1 and November 1
	 
	 	 
	DEPOSITARY:

	 	The Depository Trust Company
	 
	 	 
	OPTIONAL REDEMPTION:

	 	No

     JOHNSON & JOHNSON, a New Jersey corporation (herein called the “Company,” which term includes
any successor person under the indenture referred to on the reverse hereof), for value received,
hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $[•] ([•] MILLION
U.S. DOLLARS) on the Maturity Date of this Note, and to pay interest thereon from and including May
20, 2011 or from and including the last date in respect of which interest has been paid, as the
case may be. Interest will be paid on the Interest Payment

-1-

 

Dates shown above, commencing August 15, 2011 (except as provided below) at the interest rate
calculated in accordance with the terms of this Note, until the principal hereof is paid or made
available for payment, and interest shall accrue on any overdue principal and on any overdue
installment of interest (to the extent payment of such interest shall be legally enforceable) at
the interest rate per annum borne by this Note.

     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 Note (or one or more
predecessor Notes) is registered at the close of business on the Record Date next preceding such
Interest Payment Date; provided, however, that interest payable at the Maturity
Date will be payable to the person to whom principal shall be payable. The first payment of
interest on this Note will be made on August 15, 2011 to the registered owner of this Note on
August 1, 2011. Any interest not punctually paid or duly provided for shall be payable as provided
in the Indenture.

     Beneficial owners of this Note will be paid in accordance with the Depositary’s and its
participants’ procedures in effect from time to time.

     Any payment otherwise required to be made in respect of this Note on a date that is not a
Business Day (as defined on the reverse hereof) need not be made on such date, but may be made on
the next succeeding Business Day with the same force and effect as if made on such date, and no
additional interest shall accrue as a result of such delayed payment.

     Interest on this Note will be computed on the basis of a 360-day year for the actual number of
days elapsed.

     UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR INDIVIDUAL CERTIFICATES EVIDENCING THE
SECURITIES REPRESENTED HEREBY IN DEFINITIVE FORM, THIS NOTE MAY BE TRANSFERRED IN WHOLE, BUT NOT IN
PART, AND ONLY BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

     In addition, ownership of beneficial interests in this Note will be limited to participants in
the Depositary or persons that hold interests through such participants, and the transfer of
beneficial interests herein will be effected only through records maintained by the Depositary
(with respect to interests of participants in the Depositary) or by participants in the Depositary
or persons that may hold interests through such participants (with respect to persons other than
participants in the Depositary).

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

-2-

 

     This Note shall not be valid until the certificate of authentication hereon shall have been
manually signed by or on behalf of the Trustee or an authenticating agent under the Indenture
referred to on the reverse hereof.

     IN WITNESS WHEREOF, Johnson & Johnson has caused this instrument to be signed in its name by
the signature of one of its duly authorized officers.

	 	 	 	 	 
	Dated: May 20, 2011 	JOHNSON & JOHNSON

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 

	Attest:
	 	 	 	 
	 
	 	 	 	 
	BY:
	 	 	 	 
	 

	 	 

	 	 

-3-

 

Dated: May 20, 2011

Trustee’s Certificate of Authentication

This is one of the Notes described

herein and referred to

in the within-mentioned Indenture.

	 	 	 	 
	THE BANK OF NEW YORK

 MELLON TRUST COMPANY, 

N.A.

as Trustee

 	 
	By:  	 	 
	 	Authorized Officer 	 
	 	 	 
				

-4-

 

[Reverse of Note]

JOHNSON & JOHNSON

FLOATING RATE NOTE DUE 20[•]

          Section 1. General. This Note is one of a duly authorized series of debt securities
(herein called the “Notes”) of Johnson & Johnson, a New Jersey corporation
(the “Company”), issued under and pursuant to an indenture, dated as of September 15, 1987,
between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor to BNY
Midwest Trust Company which succeeded Harris Trust and Savings Bank), as trustee
(the “Trustee”), as supplemented by a First Supplemental Indenture dated as of September 1,
1990 (as so supplemented, the “Indenture”), to which Indenture and all other 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 Note being subject to all terms therein contained. This Note is an unsecured
obligation of the Company and will rank pari passu with all other unsecured and unsubordinated
indebtedness for borrowed money of the Company.

          Section 2. Payments. (a) This Note will bear interest from May 20, 2011, or from the
most recent Interest Payment Date to which interest has been paid or provided for, payable
quarterly on February 15, May 15, August 15 and November 15 of each year (each such date an
“Interest Payment Date”, beginning August 15, 2011, to the beneficial owners of this Note at the
close of business on the applicable record date, which is the February 1, May 1, August 1 or
November 1 next preceding such Interest Payment Date. Interest on the Notes will accrue from and
including May 20, 2011, to, but excluding, the first Interest Payment Date and then from and
including the immediately preceding Interest Payment Date to which interest has been paid or duly
provided for to, but excluding, the next Interest Payment Date or Maturity Date, as the case may
be.

     Each of these periods is referred to as an “Interest Period.” The amount of accrued interest
that the Company will pay for any Interest Period can be calculated by multiplying the face amount
of this Note then outstanding by an accrued interest factor. This accrued interest factor is
computed by adding the interest factor calculated for each day from May 20, 2011 or from the most
recent Interest Payment Date to which interest has been paid or provided for, to the applicable
Interest Payment Date. The interest factor for each day is computed by dividing the interest rate
applicable to that day by 360.

     The rate of interest on the Notes will be reset quarterly by the calculation agent (the
“Calculation Agent”). The Calculation Agent will set the initial interest rate on this Note on May
20, 2011 and reset the interest rate on each Interest Payment Date, each of which is referred to as
an “Interest Reset Date”. For this Note, the interest rate in effect on any particular day will be
the interest rate determined with respect to the latest Interest Reset Date that occurs on or
before that day. If any Interest Reset Date would otherwise be a day that is not a London Business
Day, the Interest Reset Date will be postponed to the next day that is a London Business Day,
except that, if that day falls in the next succeeding calendar month, the Interest Reset Date will
be the immediately preceding London Business Day. A “London Business Day”

-5-

 

is a day on which dealings in deposits in U.S. dollars are transacted in the London interbank
market.

     The Calculation Agent is The Bank of New York Mellon Trust Company, N.A., unless and until
such time as a successor is appointed. If that bank is unable or unwilling to continue to act as
the Calculation Agent or if it fails to calculate properly the interest rate on this Note for any
Interest Period, the Company will appoint another leading commercial or investment bank engaged in
the London interbank market to act as Calculation Agent in its place. The Calculation Agent may
not resign its duties without a successor having been appointed. The interest rate on this Note
for a particular Interest Period will be a per annum rate equal to U.S. dollar three-month LIBOR as
determined on the Interest Determination Date plus [•]%. The “Interest Determination Date” for an
Interest Period with respect to this Note will be the second London Business Day preceding the
Interest Reset Date. Promptly upon determination, the Calculation Agent will inform the Trustee and
the Company of the interest rate for the next Interest Period. If any Interest Determination Date
would fall on a day that is not a London Business Day, the Interest Determination Date will be
postponed to the next succeeding London Business Day, except that, if that day falls in the next
succeeding calendar month, the Interest Determination Date will be the immediately preceding London
Business Day.

     If an Interest Payment Date, other than the Maturity Date, for this Note falls on a day that
is not a London Business Day, then such Interest Payment Date will be postponed to the next day
that is a London Business Day, except that, if that London Business Day falls in the next
succeeding calendar month, then, unless it relates to interest payable at maturity, the Interest
Payment Date will be the immediately preceding London Business Day. If the Maturity Date of this
Note falls on a day that is not a London Business Day, then the related payment of principal and
interest will be made on the next day that is a London Business Day with the same effect as if made
on the date that the payment was first due, and no interest will accrue on the amount so payable
for the period from the Maturity Date.

     On any Interest Determination Date, U.S. dollar three-month LIBOR will be equal to the offered
rate for deposits in U.S. dollars having an index maturity of three months, in amounts of at least
$1,000,000, as such rate appears on “Reuters Page LIBOR01” at approximately 11:00 a.m., London
time, on such Interest Determination Date. “Reuters Page LIBOR01” means the display that appears on
Reuters (or any successor service) on page LIBOR01 (or any page as may replace such page on such
service) for the purpose of displaying London interbank offered rates of major banks for U.S.
dollars.

     If no offered rate appears on Reuters Page LIBOR01 on an Interest Determination Date at
approximately 11:00 a.m., London time, then the Calculation Agent (after consultation with the
Company) will select four major banks in the London interbank market and shall request each of
their principal London offices to provide a quotation of the rate at which three-month deposits in
U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London
interbank market, on that date and at that time, that is representative of single transactions at
that time. If at least two quotations are provided, LIBOR will be the arithmetic average of the
quotations provided. Otherwise, the Calculation Agent will select three major banks in New York
City and shall request each of them to provide a quotation of the rate offered by them at
approximately 11:00 a.m., New York City time, on the Interest Determination Date for loans in

-6-

 

U.S. dollars to leading European banks having an index maturity of three months for the
applicable Interest Period in an amount of at least $ 1,000,000 that is representative of single
transactions at that time. If three quotations are provided, LIBOR will be the arithmetic average
of the quotations provided. Otherwise, the rate of LIBOR for the next Interest Period will be set
equal to the rate of LIBOR for the then current Interest Period.

     Upon request from any holder of this Note, the Calculation Agent will provide the interest
rate in effect for this Note for the current Interest Period and, if it has been determined, the
interest rate to be in effect for the next Interest Period.

     All percentages resulting from any calculation of the interest rate on this Note will be
rounded to the nearest one hundred-thousandth of a percentage point with five one millionths of a
percentage point rounded upwards (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655)), and all dollar amounts used in or resulting from such calculation on this Note will be
rounded to the nearest cent (with one-half cent being rounded upward). Each calculation of the
interest rate on this Note by the Calculation Agent will (in the absence of manifest error) be
final and binding on the holders, the Trustee and the Company.

     The interest rate on this Note will in no event be higher than the maximum rate permitted by
New York law as the same may be modified by United States law of general application.

          (b) The principal of and any premium and interest on this Note are payable by the Company in
U.S. dollars.

          (c) Until this Note is paid or payment thereof is duly provided for, the Company will, at all
times, maintain a Paying Agent in the city of New York capable of performing the duties described
herein to be performed by the Paying Agent. The Bank of New York Mellon, 101 Barclay, New York,
New York 10286, will act as a Paying Agent and co-registrar. The Company may change any Paying
Agent, Registrar or co-registrar without notice. The Company may act in any such capacity.

          Section 3. Defeasance. If the Company at any time deposits with the Trustee money or
eligible government obligations sufficient to make timely payments of all principal of and interest
on the Notes, the Company will be discharged from the restrictive covenants in the Indenture or
possibly from all payment obligations under the Indenture and this Note, provided certain
conditions set forth in the Indenture are met by the Company. If the Company is so discharged from
its payment obligations with respect to this Note, the holder would be able to look only to the
deposited money or government obligations for payment. Eligible government obligations are those
backed by the full faith and credit of the government of the United States.

          Section 4. Restrictive Covenants. This Note is an unsecured general obligation of the
Company. The Indenture does not limit other unsecured debt. It does limit certain debt and sale
and leaseback transactions if the debt is secured by liens on or the property leased is
manufacturing property located in the continental United States which is of material importance to
the Company’s consolidated business. The limitations are subject to a number of important
definitions, qualifications and exceptions set forth in the Indenture. Once a year the Company
must report to the Trustee on compliance with the limitations.

-7-

 

          Section 5. Events of Default. An Event of Default is: default for 30 days in payment
of interest on the Notes; default in payment of principal on the Notes; failure by the Company for
90 days after notice to it to comply with any of its other agreements in the Indenture or this
Note; and certain events of bankruptcy or insolvency. If an Event of Default occurs and is
continuing, the Trustee or the holders of at least 25% in principal amount of the Notes may declare
all the Notes to be due and payable immediately.

          Section 6. Optional Redemption. This Note may not be redeemed prior to the Maturity
Date.

          Section 7. Amendments and Waivers. Subject to certain exceptions, provisions of the
Indenture or this Note may be amended with the consent of the holders of a majority in principal
amount of the Notes at the time outstanding, and any existing default with respect to the Notes may
be waived with the consent of the holders of a majority in principal amount of the Notes. Without
the consent of any holder, the Indenture or this Note may be amended to cure any ambiguity, defect
or inconsistency, to provide for assumption of Company obligations to the holder in the case of a
merger or transfer or lease of all or substantially all of the Company’s assets or to make any
change that does not adversely affect the rights of the holder of this Note.

          Section 8. Authorized Denominations. The Notes are issuable in registered form
without coupons in the minimum denomination of $2,000 and in any larger amount that is an integral
multiple of $1,000.

          Section 9. Exchange and Registration of Transfer. This Note is exchangeable only if
(x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary
for the Notes or if at any time the Depositary ceases to be in good standing under the Securities
Exchange Act of 1934, as amended, and the Company does not appoint a successor Depositary within 90
days after the Company receives such notice or becomes aware that such Depositary is no longer in
good standing, or (y) the Company in its sole discretion determines that the Notes shall be
exchanged for certificated Notes in definitive form, provided that the definitive Notes so issued
in exchange for this Note shall be in authorized denominations and be of like aggregate principal
amount and tenor and terms as the portion of this Note to be exchanged. Except as provided above,
owners of beneficial interests in this Note will not be entitled to have this Note or Notes
represented by this Note registered in their names or receive physical delivery of Notes in
definitive form and will not be considered the holders hereof for any purpose under the Indenture.

          Section 10. No Recourse Against Certain Persons. A stockholder, officer, director or
employee, as such, past, present or future, of the Company or any successor corporation, shall not
have any liability for any obligation of the Company under the Indenture or this Note or for any
claim based on, in respect of or by reason of such obligations or their creation. By accepting
this Note, the holder hereby waives and releases all such liability. Such waiver and release are
part of the consideration for the issue of this Note.

-8-

 

          Section 11. Business Day. “Business Day” means any day, other than a Saturday, a
Sunday or a day on which banking institutions are authorized or required by law or regulation to be
closed in the city of New York.

          Section 12. Definitions. All terms used in this Note which are not defined herein but
are defined in the Indenture shall have the meanings assigned to them therein.

          Section 13. Governing Law. This Note shall be governed by and construed in accordance
with the laws of the State of New York.

     The Company will furnish a copy of the Indenture to any holder of a Note upon written request
and without charge. Requests may be made to: Treasurer, Johnson & Johnson, One Johnson & Johnson
Plaza, New Brunswick, New Jersey 08933.

-9-

 

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

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

PLEASE PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

 

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

	 	 	 	 	 

	Dated:
	 	 	 	 
	 

	 	 
	 	 
	 

	 	 	 	Signature

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

-10-

 

ABBREVIATIONS

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

	 

	TEN COM — as tenants in common

	 

	TEN ENT — as tenants by the entireties

	 

	JT TEN — as joint tenants with right of survivorship
and not as tenants in common

	 

	UNIF GIFT MIN ACT —

	 

	                       
                  Custodian                 
                        

	(Cust)                  
                               (Minor)

	 

	Under Uniform Gifts to Minors Act

	 

	                                                            

	(State)

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

-11-

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