Document:

EX-4.1

 Exhibit 4.1 
  

 
 APPLIED MATERIALS, INC. 

as Issuer 
 AND 

U.S. Bank National Association, 

as Trustee 
 THIRD SUPPLEMENTAL
INDENTURE 
 Dated as of March 31, 2017 

$1,200,000,000 of 3.300% Senior Notes due 2027 

and 
 $1,000,000,000 of 4.350%
Senior Notes due 2047 
  
  

 THIS THIRD SUPPLEMENTAL INDENTURE (the “Third Supplemental
Indenture”) is dated as of March 31, 2017 between APPLIED MATERIALS, INC., a Delaware corporation (the “Company”), and U.S. Bank National Association, a national banking association (the “Trustee”).

 RECITALS 
 A. The Company
and the Trustee executed and delivered an Indenture, dated as of June 8, 2011, (the “Base Indenture” and, as supplemented by the Third Supplemental Indenture, the “Indenture”), to provide for the
issuance by the Company from time to time of unsubordinated debt securities evidencing its unsecured indebtedness. 
 B. Pursuant to a Board
Resolution, the Company has authorized the issuance of $1,200,000,000 principal amount of 3.300% Senior Notes due 2027 (the “2027 Notes”) and $1,000,000,000 principal amount of 4.350% Senior Notes due 2047 (the “2047
Notes” and, together with the 2027 Notes, the “Notes”). 
 C. The entry into this Third Supplemental Indenture
by the parties hereto is in all respects authorized by the provisions of the Base Indenture. 
 D. The Company desires to enter into this
Third Supplemental Indenture pursuant to Section 9.01 of the Base Indenture to establish the terms of the Notes in accordance with Section 2.01 of the Base Indenture and to establish the form of the Notes in accordance with Sections
2.01(a)(10) and 2.02 of the Base Indenture. 
 E. All things necessary to make this Third Supplemental Indenture a valid and legally binding
agreement according to its terms have been done. 
 NOW, THEREFORE, for and in consideration of the foregoing premises, the Company and the
Trustee mutually covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Notes as follows: 

ARTICLE I 
 Section 1.1 Terms of the
Notes. 
 The following terms relate to the Notes: 

(1) The 2027 Notes shall constitute a series of Notes having the title “3.300% Senior Notes due 2027” and the 2047 Notes shall
constitute a separate series of Notes having the title “4.350% Senior Notes due 2047”. 
 (2) The aggregate principal amount of
the 2027 Notes (the “Initial 2027 Notes”) and the 2047 Notes (the “Initial 2047 Notes” and, together with the Initial 2027 Notes, the “Initial Notes”) that may be
initially authenticated and delivered under the Indenture shall be $1,200,000,000 and $1,000,000,000, respectively. The Company may from time to time, without the consent of the Holders of Notes, issue additional 2027 Notes (in any such case
“Additional 2027 Notes”) or additional 2047 Notes (in any such case “Additional 2047 Notes”) having the same ranking and the same interest rate, maturity and other terms as the Initial
2027 Notes or the Initial 2047 Notes, as the case may be. Any Additional 2027 Notes and the Initial 2027 Notes and any Additional 2047 Notes and the Initial 2047 Notes, as the case may be, shall each constitute a single series under the Indenture
and all references to the 2027 Notes shall include the Initial 2027 Notes and any Additional 2027 Notes and all references to the 2047 Notes shall include the Initial 2047 Notes and any Additional 2047 Notes, unless the context otherwise requires;
provided that unless such Additional 2027 Notes or Additional 2047 Notes are issued pursuant to a “qualified reopening” of the Initial 2027 Notes or Initial 2047 Notes, respectively or are otherwise treated as part of the same
“issue” of debt instruments as the Initial 2027 Notes or the Initial 2047 Notes, respectively, or are issued with no more than a de minimis amount of original discount, in each case, for U.S. federal income tax purposes, the applicable
Additional Notes will have a separate CUSIP number. The aggregate principal amount of each of the Additional 2027 Notes and Additional 2047 Notes shall be unlimited. 

  
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 (3) The entire Outstanding principal of the 2027 Notes and 2047 Notes shall be payable on
April 1, 2027 and on April 1, 2047, respectively. 
 (4) The rate at which the Notes shall bear interest shall be 3.300% per
year for the 2027 Notes and 4.350% per year for the 2047 Notes. The date from which interest shall accrue on the Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been
paid, from March 31, 2017. The Interest Payment Dates for the Notes shall be April 1 and October 1 of each year, beginning October 1, 2017. Interest shall be payable on each Interest Payment Date to the holders of record at the
close of business on the March 15 and September 15 prior to each Interest Payment Date (a “regular record date”). The basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. 
 (5) The Notes
shall be issuable in whole in the form of one or more registered Global Securities, and the Depository for such Global Securities shall be The Depository Trust Company, New York, New York. The Notes shall be substantially in the form attached hereto
as Exhibit A (2027 Notes) and Exhibit B (2047 Notes) the terms of which are herein incorporated by reference. The Notes shall be issuable in denominations of $2,000 or any integral multiple of $1,000 in excess thereof. 

(6) The Notes may be redeemed at the option of the Company prior to the maturity date, as provided in Section 1.3 hereof. 

(7) The Notes will not have the benefit of any sinking fund. 

(8) Except as provided herein, the holders of the Notes shall have no special rights in addition to those provided in the Base Indenture upon
the occurrence of any particular events. 
 (9) The Notes will be general unsecured and unsubordinated obligations of the Company and will
be ranked equally among themselves. 
 (10) The Notes are not convertible into shares of common stock or other securities of the Company.

 (11) The restrictive covenant set forth in Section 1.4 hereof shall be applicable to the Notes. 

Section 1.2 Additional Defined Terms. 

As used herein, the following defined terms shall have the following meanings with respect to the Notes only: 

“Below Investment Grade Rating Event” means the Notes are downgraded below Investment Grade
Rating by both Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by the Company of the occurrence of a Change of Control (or pending Change of
Control) and ending 60 days following consummation of such Change of Control (which Trigger Period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by either of such Rating
Agencies on such 60th day, such extension to last with respect to each such Rating Agency until the date on which such Rating Agency considering such possible downgrade either (x) rates the Notes below Investment Grade or (y) publicly
announces that it is no longer considering the Notes for possible downgrade, provided that no such extension will occur if on such 60th day the Notes are rated Investment Grade by at least one of such Rating Agencies in question and are not subject
to review for possible downgrade by such Rating Agency). 
 “Change of Control” means the occurrence of any
of the following: (1) direct or indirect sale, 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 properties or assets of the
Company and its subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) 

  
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other than the Company or one of its direct or indirect wholly-owned subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) as a
result of which any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) 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 the Company’s Voting Stock is reclassified,
consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any “person” or “group” (as that term is used in Section 13(d)(3) of
the Exchange Act), or any “person” or “group” consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the Company’s 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 Company’s board of directors are not Continuing Directors; or (5) the adoption of a plan by the board of directors of the Company or its stockholders relating to the Company’s liquidation or dissolution. Notwithstanding the
foregoing, a transaction will not be deemed to involve a Change of Control if (a) the Company becomes a direct or indirect wholly owned subsidiary of a holding company (which shall include a parent company) and (b)(i) the holders of the Voting
Stock of such holding company immediately following that transaction are substantially the same as the holders of our Voting Stock immediately prior to that transaction or (ii) no “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) (other than a holding company satisfying the requirements of this sentence) 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 voting power of the Voting Stock of such holding company immediately following such transaction. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below
Investment Grade Rating Event. 
 “Comparable Treasury Issue” means 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 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 the Notes to be redeemed. 

“Comparable Treasury Price” means, with respect to any redemption date, (a) the average of the Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, (b) if the Company obtains fewer than four Reference Treasury Dealer Quotations, the arithmetic average of
those quotations or (c) if the Company obtains only one Reference Treasury Dealer Quotation, such Reference Treasury Dealer Quotation. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company who
(1) was a member of the Board of Directors of the Company on the date of the issuance of the Notes; or (2) was nominated for election or elected to the Board of Directors of the Company with the approval of a majority of the Continuing
Directors who were members of such Board of Directors of the Company at the time of such nomination or election (either by specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as
a director, without objection to such nomination). 
 “Independent Investment Banker” means the Reference
Treasury Dealer appointed by the Company as Independent Investment Banker. 
 “Investment Grade Rating” means
a rating by Moody’s equal to or higher than Baa3 (or the equivalent under a successor rating category of Moody’s) or a rating by S&P equal to or higher than BBB- (or the equivalent under any
successor rating category of S&P). 
 “Moody’s” means Moody’s Investors Service, Inc. 

  
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 “Optional Redemption Date” when used with respect to any Note to
be redeemed at the Company’s option, means the date fixed for such redemption by or pursuant to Section 1.3 of this Third Supplemental Indenture. 

“Optional Redemption Price” when used with respect to any Note to be redeemed at the Company’s option,
means the price at which it is to be redeemed pursuant to Section 1.3 of this Third Supplemental Indenture. 
 “Rating
Agencies” means (1) Moody’s and S&P; and (2) if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for any reason, a “nationally recognized
statistical rating organization” as such term is defined under Section 3(a)(62) under the Exchange Act, selected by the Company (as certified by a resolution of the Board of Directors) as a replacement agency for either of Moody’s or
S&P, or both of them, as the case may be. 
 “Reference Treasury Dealer” means each of (i) J.P.
Morgan Securities LLC, Citigroup Global Markets Inc. and a primary U.S. Government securities dealer designated by MUFG Securities Americas Inc. and their respective successors and (ii) one other nationally recognized investment banking firm
(or its affiliate) that the Company selects in connection with the particular redemption, and its successor, provided that if at any time any of the above, or any of their designees, is not a primary U.S. Government securities dealer, the Company
will substitute that entity with another nationally recognized investment banking firm that the Company selects that is a primary U.S. Government securities dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any
redemption date, the arithmetic average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 3:30 p.m.,
New York City time, on the third business day preceding such redemption date. 
 “Remaining Scheduled
Payments” means, with respect to each Note to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related redemption date for such redemption; provided, however, that,
if such redemption date is not an interest payment date with respect to such Note, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such redemption date. 

“S&P” means Standard & Poor’s Ratings Services, a subsidiary of The McGraw-Hill Companies, Inc., and
any successor to its rating agency business. 
 “Treasury Rate” means, for any redemption date, the rate per annum
equal to the semi-annual equivalent yield to maturity or interpolated yield to maturity, computed as of the third business day immediately preceding that redemption date, of the Comparable Treasury Issue, assuming a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for that redemption date. 
 Section 1.3 Optional
Redemption. 
 (a) The provisions of Article Three of the Base Indenture, as amended by the provisions of this Third Supplemental
Indenture, shall apply to the Notes with respect to this Section 1.3. 
 (b) The Notes shall be redeemable, in each case, in whole at
any time or in part from time to time, at the Company’s option at the applicable Optional Redemption Price, equal to: 
 (i) with
respect to the 2027 Notes, at any time prior to January 1, 2027 (three months prior to the maturity of the 2027 Notes), the greater of (x) 100% of the principal amount of such 2027 Notes and (y) the sum of the present values of the
Remaining Scheduled Payments of the 2027 Notes to be redeemed, discounted to the Optional Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) using a discount rate equal to the Treasury Rate (as defined below) plus 15 basis points, provided that, if the 2027 Notes are redeemed on or after January 1, 2027 (three months prior to
the maturity of the 2027 Notes) the Optional Redemption Price will equal 100% of the principal amount of such 2027 Notes; and 

  
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 (ii) with respect to the 2047 Notes, at any time prior to October 1, 2046 (six months prior
to the maturity of the 2047 Notes), the greater of (x) 100% of the principal amount of such 2047 Notes and (y) the sum of the present values of the Remaining Scheduled Payments of the 2047 Notes to be redeemed, discounted to the Optional
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate plus 20 basis
points, provided that, if the 2047 Notes are redeemed on or after October 1, 2046 (six months prior to the maturity of the 2047 Notes) the Optional Redemption Price will equal 100% of the principal amount of such 2047 Notes; 

plus, in addition to such Optional Redemption Price, in each case, accrued and unpaid interest thereon to, but excluding, the Optional Redemption Date.
Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the Optional Redemption Date shall be payable on the applicable Interest Payment Date to the Securityholders of such Notes registered as such at the
close of business on the applicable record date pursuant to the Notes and the Indenture. 
 (c) On and after the Optional Redemption Date
for the Notes, interest shall cease to accrue on the Notes or any portion thereof called for redemption, unless the Company defaults in the payment of the Optional Redemption Price and accrued interest, if any. On or before 12:00 p.m., New York City
time, on the Optional Redemption Date for the Notes, the Company shall deposit with the Trustee or a paying agent, funds sufficient to pay the Optional Redemption Price of the Notes to be redeemed on the Optional Redemption Date, and (except if the
date fixed for redemption shall be an Interest Payment Date) accrued interest, if any. If less than all of the Notes are to be redeemed, the Notes shall be redeemed in accordance with Section 3.02 of the Base Indenture. 

(d) Notice of any optional redemption shall be mailed at least 30 days but not more than 60 days before the Optional Redemption Date to each
holder of the Notes to be redeemed; provided, however, that the Company shall notify the Trustee of the Optional Redemption Date at least 15 days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the
Trustee). Such notice shall be provided in accordance with Section 3.02 of the Base Indenture. If the Optional Redemption Price cannot be determined at the time such notice is to be given, the actual Optional Redemption Price, calculated as
described above in clause (b), shall be set forth in an Officers’ Certificate of the Company delivered to the Trustee no later than two (2) Business Days prior to the Optional Redemption Date. Notice of redemption having been given as
provided in the Indenture, the Notes called for redemption shall, on the Optional Redemption Date, become due and payable at the Optional Redemption Price, and accrued and unpaid interest, if any, to, but excluding, the Optional Redemption Date.

 Section 1.4 Additional Covenant. 

The following additional covenant shall apply with respect to the Notes so long as any of the Notes remain Outstanding: 

(1) Change of Control Triggering Event. 

(a) If a Change of Control Triggering Event occurs with respect to the Notes, unless the Company shall have exercised its option to redeem
the Notes in full, as set forth in Section 1.3 of this Third Supplemental Indenture, or the Company shall have defeased the Notes or have satisfied and discharged the Notes, as set forth in Article XI of the Base Indenture, the Company shall
make an offer (the “Change of Control Offer”) to each holder of the Notes to repurchase any and all of such holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of
Notes to be repurchased (such principal amount to be equal to $2,000 or an integral multiple of $1,000 in excess of $2,000), plus accrued and unpaid interest, if any, on the Notes to be repurchased up to, but excluding, the date of repurchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Company shall mail notice to the Trustee and Holders of the Notes describing the transaction or transactions
that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from

  
 6 

 
the date such notice is mailed (the “Change of Control Payment Date”). Notwithstanding the foregoing, installments of interest on such Notes whose
Stated Maturity is on or prior to the Change of Control Payment Date shall be payable on the applicable Interest Payment Date to the Securityholders of such Notes registered as such at the close of business on the applicable record date pursuant to
the Notes and the Indenture. 
 (b) On the Change of Control Payment Date, the Company shall, to the extent lawful: 

(i) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(ii) deposit with the Trustee or a paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and 
 (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an
Officers’ Certificate stating (1) the aggregate principal amount of Notes or portions of Notes being repurchased, (2) that all conditions precedent contained herein to make a Change of Control Offer have been complied with and
(3) that the Change of Control Offer has been made in compliance with the Indenture. 
 The Company shall publicly announce the results
of the Change of Control Offer on or as soon as possible after the date of purchase. 
 (c) The Company shall comply in all material
respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such 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 this Section 1.4, the Company
shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 1.4 by virtue of any such conflict. 

Section 1.5 Events of Default. 
 (a)
With respect to the Notes, “Event of Default” means any one or more of the following events that has occurred and is continuing: 

(1) default in the payment of the principal or any premium on any Note of that series when due (whether at maturity, upon acceleration,
redemption or otherwise); 
 (2) default for 30 days in the payment of interest on any Note of such series when due; 

(3) failure by the Company to comply with Section 1.4 of this Third Supplemental Indenture; 

(4) failure by the Company to observe or perform any term of the Indenture (other than those referred to in (1), (2) or (3) above
and other than a covenant or agreement included in this Third Supplemental Indenture not for the benefit of such series) for a period of 90 days after the Company receives a notice of default stating that the Company is in breach. The notice must be
sent by either the Trustee or Holders of 25% of the principal amount of the Notes of the affected series; 
 (5) the entry by a court
having competent jurisdiction of: 
 (A) an order for relief in respect of the Company as debtor in an involuntary proceeding under any
applicable Bankruptcy Law and such order shall remain unstayed and in effect for a period of 60 consecutive days; or 
 (B) a final and non-appealable order appointing a Custodian of the Company, or ordering the winding up or liquidation of the affairs of the Company, and such order shall remain unstayed and in effect for a period of 60 consecutive
days; or 
 (6) the commencement by the Company of a voluntary proceeding under any applicable Bankruptcy Law or the consent by the Company
as debtor to the entry of a decree or order for relief in an involuntary proceeding under any applicable Bankruptcy Law, or the filing by the Company as debtor of a consent to an order for relief in any involuntary proceeding under any Bankruptcy
Law, or to the appointment of a Custodian or the making by the Company of an assignment for the benefit of creditors. 

  
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 ARTICLE II 

MISCELLANEOUS 
 Section 2.1
Definitions. 
 Capitalized terms used but not defined in this Third Supplemental Indenture shall have the meanings ascribed thereto
in the Base Indenture. 
 Section 2.2 Confirmation of Indenture. 

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

Section 2.3 Concerning the Trustee. 

In carrying out the Trustee’s responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it
possesses under the Indenture. The recitals contained herein and in the Notes, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this Third Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. 

Section 2.4 Governing Law. 
 This
Third Supplemental 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 2.5 Separability. 
 In case
any provision in this Third 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 2.6 Counterparts. 
 This
Third 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. 

Section 2.7 No Benefit. 
 Nothing in
this Third Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or assigns, and the holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this Third
Supplemental Indenture or the Base Indenture. 

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

					
	 APPLIED MATERIALS, INC.

		
	By:	 	 /s/ Robert M. Friess

		 	Name:	 	Robert M. Friess
		 	Title:	 	Vice President and Treasurer

  
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	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 /s/ David A. Jason

		 	Name:	 	David A. Jason
		 	Title:	 	Vice President

  
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 EXHIBIT A 

FORM OF 3.300% SENIOR NOTES DUE 2027 

[Insert the Global Security legend, if applicable] 

3.300% SENIOR NOTES DUE 2027 
  

			
	No. [    ]	  	$[            ]
	CUSIP No. 038222 AL9	  	

 APPLIED MATERIALS, INC. 

promises to pay to [                ] or registered assigns, the principal sum
of [                ] Dollars (as may be adjusted by the increased or decreased as reflected on the Schedule of Increases or Decreases in the Global Security attached
hereto) on April 1, 2027. 
 Interest Payment Dates: April 1 and October 1 

Record Dates: March 15 and September 15 

Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the
Indenture described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained
herein and in the Indenture and waives reliance by such holder upon said provisions. 
 This Security shall not be entitled to any benefit
under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Security 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-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with
Section 2.04 of the Base Indenture. 
 Date: 
  

			
	 APPLIED MATERIALS, INC.

	
	  

	 Name:
	 	
	 Title:
	 	
	
	  

	 Name:
	 	
	 Title:
	 	

  
 A-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the 3.300% Senior Notes due 2027 issued by Applied Materials, Inc. of the series designated therein referred to in the
within-mentioned Indenture. 
 Date: 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-3 

 Applied Materials, Inc. 

3.300% Senior Notes due 2027 
 This
security is one of a duly authorized series of debt securities of Applied Materials, Inc., a Delaware corporation (the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s
unsubordinated debt securities, dated as of June 8, 2011 (the “Base Indenture”), duly executed and delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Third
Supplemental Indenture, dated as of March 31, 2017 (the “Third Supplemental Indenture”), by and between the Company and the Trustee. The Base Indenture as supplemented and amended by the Third Supplemental Indenture is referred to
herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base
Indenture. This security is one of the series designated on the face hereof (individually, a “Security,” and collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights,
limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the “Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in
the Base Indenture or the Third Supplemental Indenture, as applicable. 
 1. Interest. The Company promises to pay interest on the
principal amount of this Security at an annual rate of 3.300%. The Company will pay interest semi-annually on April 1 and October 1 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date,
redemption date or maturity date of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment
was due, and no interest shall accrue for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided
for or, if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date referred to on the face hereof and the
next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be October 1, 2017. Interest will be calculated on the basis of a 360-day year of twelve 30-day months. 
 2. Method of
Payment. The Company will pay interest on the Securities (except defaulted interest), if any, to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this
Security for such interest installment. In the event that the Securities or a portion thereof are called for redemption or there is a Change of Control Offer, and the Optional Redemption Date or the Change of Control Payment Date, as applicable, is
subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Securities will instead be paid upon presentation and surrender of such Securities as provided in the Indenture.

 The principal of and the interest on the Securities shall be payable in the coin or currency of the United States of America that at the time is legal
tender for public and private debt, at the office or agency of the Company maintained for that purpose in accordance with the Indenture. 

3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee, will act as paying agent and Security Registrar.
The Company may change or appoint any paying agent or Security Registrar without notice to any Securityholder. The Company or any of their Subsidiaries may act in any such capacity. 

4. Indenture. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and TIA for a statement of such terms. The
Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “3.300% Senior Notes due 2027”, initially limited to $1,200,000,000 in aggregate principal amount. The Company will
furnish to any Securityholder 

  
 A-4 

 
upon written request and without charge a copy of the Base Indenture and the Third Supplemental Indenture. Requests may be made to: Applied Materials, Inc., 3050 Bowers Avenue, P.O. Box 58039,
Santa Clara, California 95052-8039, Attention: Treasurer. 
 5. Redemption. The Securities may be redeemed at the option of the
Company prior to the maturity date, as provided in Section 1.3 of the Third Supplemental Indenture. 
 The Company shall not be
required to make sinking fund payments with respect to the Securities. 
 6. Change of Control Triggering Event. Upon the occurrence
of a Change of Control Triggering Event, unless the Company has exercised its right to redeem this Security in full or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security will have the right
to require that the Company purchase all or a portion, (such principal amount to be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000), of this Security at a purchase price equal to 101% of the principal amount repurchased plus
accrued and unpaid interest, if any, on the amount to be repurchased to the date of purchase. Within 30 days following any Change of Control Triggering Event, the Company shall send, by first class mail, a notice to each Holder, in accordance with
Section 1.4(1)(a) of the Third Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. 

7. Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the denominations of $2,000 or any
integral multiple of $1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Securities may be presented for exchange or for registration of transfer (duly endorsed or
with the form of transfer endorsed thereon duly executed if so required by the Company or the Security Registrar) at the office of the Security Registrar or at the office of any transfer agent designated by the Company for such purpose. No service
charge will be made for any registration of transfer or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be required to:
(i) issue, register the transfer of, or exchange any Security during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of less than all of the outstanding Securities of the same series and
ending at the close of business on the day of such mailing; (ii) register the transfer of or exchange any Security of any series or portions thereof selected for redemption, in whole or in part, except the unredeemed portion of any such
Security being redeemed in part; nor (iii) register the transfer of or exchange of a Security of any series between the applicable record date and the next succeeding Interest Payment Date. 

8. Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes. 

9. Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the
Company, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least one year after the date upon which the
principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall, upon request of the Company, be repaid to the Company, or (if then held by the Company) shall be discharged from such trust. After
return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors. 

10. Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority
in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding 

  
 A-5 

 
upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation
of such consent or waiver is made upon this Security. 
 11. Defaults and Remedies. If an Event of Default with respect to the
securities of a series issued pursuant to the Third Supplemental Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities of such series then Outstanding, by notice in writing to
the Company (and to the Trustee if notice is given by such holders), may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under
the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee
indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding securities of a series issued pursuant to the Third Supplemental Indenture will have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the securities of such series. 

12. Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain limitations imposed by the TIA,
or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar. 

13. No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement of the Indenture, or of any Security,
or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such 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; it being expressly understood that the
Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as
such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the
Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every
such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the Indenture or in the Securities
or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 

14. Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall
for all purposes have the same effect as if set forth herein. 
 15. Authentication. This Security shall not be valid until the
Trustee manually signs the certificate of authentication attached to the other side of this Security. 
 16. Abbreviations. Customary
abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 17. Governing Law. The Base Indenture, the Third Supplemental Indenture
and this Security 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. 

  
 A-6 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                     agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	Date:	 	  

  

	
	 Your Signature:

	
	  

	(Sign exactly as your name appears on the face of this Security)

  

			
	 Signature Guarantee:
	 	  

  
 A-7 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.4(1) of the Third Supplemental Indenture, check
the box: 
  

			
	☐	 	1.4(1) Change of Control Triggering Event

 If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 1.4(1) of the Third Supplemental Indenture, state the amount: $        . 
  

							
	Date:	 	  
	 		 	Your Signature:
		 		 		 	(Sign exactly as your name appears on the other side of the Security)
				
		 		 		 	Tax I.D. number

  

							
	Signature Guarantee:	 	  
	  		  	
		 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)	  		  	

  
 A-8 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

																	
	Date of Exchange	  	Amount of
decrease in
principal amount
of this Global
Security	 	  	Amount of
increase in
principal amount
of this Global
Security	 	  	Principal amount of
this Global Security
following such
decrease or increase	 	  	Signature of
authorized signatory
of Trustee or
Securities Custodian	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  
 A-9 

 EXHIBIT B 

FORM OF 4.350% SENIOR NOTES DUE 2047 

[Insert the Global Security legend, if applicable] 

4.350% SENIOR NOTES DUE 2047 
  

			
	No. [    ]	  	$[            ]
	CUSIP No. 038222 AM7	  	

 APPLIED MATERIALS, INC. 

promises to pay to [                    ] or registered
assigns, the principal sum of [                    ] Dollars (as may be adjusted by the increased or decreased as reflected on the Schedule of
Increases or Decreases in the Global Security attached hereto) on April 1, 2047. 
 Interest Payment Dates: April 1 and October 1 

Record Dates: March 15 and September 15 

Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the
Indenture described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained
herein and in the Indenture and waives reliance by such holder upon said provisions. 
 This Security shall not be entitled to any benefit
under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. The provisions of this Security 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-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with
Section 2.04 of the Base Indenture. 
 Date: 
  

			
	APPLIED MATERIALS, INC.
	
	  

	Name:	 	
	Title:	 	
	
	  

	Name:	 	
	Title:	 	

  
 B-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the 4.350% Senior Notes due 2047 issued by Applied Materials, Inc. of the series designated therein referred to in the
within-mentioned Indenture. 
 Date: 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 B-3 

 Applied Materials, Inc. 

4.350% Senior Notes due 2047 
 This
security is one of a duly authorized series of debt securities of Applied Materials, Inc., a Delaware corporation (the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s
unsubordinated debt securities, dated as of June 8, 2011 (the “Base Indenture”), duly executed and delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Third
Supplemental Indenture, dated as of March 31, 2017 (the “Third Supplemental Indenture”), by and between the Company and the Trustee. The Base Indenture as supplemented and amended by the Third Supplemental Indenture is referred to
herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base
Indenture. This security is one of the series designated on the face hereof (individually, a “Security,” and collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights,
limitations of rights, obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the “Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in
the Base Indenture or the Third Supplemental Indenture, as applicable. 
 1. Interest. The Company promises to pay interest on the
principal amount of this Security at an annual rate of 4.350%. The Company will pay interest semi-annually on April 1 and October 1 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date,
redemption date or maturity date of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment
was due, and no interest shall accrue for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided
for or, if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date referred to on the face hereof and the
next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be October 1, 2017. Interest will be calculated on the basis of a 360-day year of twelve 30-day months. 
 2. Method of
Payment. The Company will pay interest on the Securities (except defaulted interest), if any, to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this
Security for such interest installment. In the event that the Securities or a portion thereof are called for redemption or there is a Change of Control Offer, and the Optional Redemption Date or the Change of Control Payment Date, as applicable, is
subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Securities will instead be paid upon presentation and surrender of such Securities as provided in the Indenture.

 The principal of and the interest on the Securities shall be payable in the coin or currency of the United States of America that at the time is legal
tender for public and private debt, at the office or agency of the Company maintained for that purpose in accordance with the Indenture. 

3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee, will act as paying agent and Security Registrar.
The Company may change or appoint any paying agent or Security Registrar without notice to any Securityholder. The Company or any of their Subsidiaries may act in any such capacity. 

4. Indenture. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and TIA for a statement of such terms. The
Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “4.350% Senior Notes due 2047”, initially limited to $1,000,000,000 in aggregate principal amount. The Company will
furnish to any Securityholder 

  
 B-4 

 
upon written request and without charge a copy of the Base Indenture and the Third Supplemental Indenture. Requests may be made to: Applied Materials, Inc., 3050 Bowers Avenue, P.O. Box 58039,
Santa Clara, California 95052-8039, Attention: Treasurer. 
 5. Redemption. The Securities may be redeemed at the option of the
Company prior to the maturity date, as provided in Section 1.3 of the Third Supplemental Indenture. 
 The Company shall not be
required to make sinking fund payments with respect to the Securities. 
 6. Change of Control Triggering Event. Upon the occurrence
of a Change of Control Triggering Event, unless the Company has exercised its right to redeem this Security in full or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security will have the right
to require that the Company purchase all or a portion, (such principal amount to be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000), of this Security at a purchase price equal to 101% of the principal amount repurchased plus
accrued and unpaid interest, if any, on the amount to be repurchased to the date of purchase. Within 30 days following any Change of Control Triggering Event, the Company shall send, by first class mail, a notice to each Holder, in accordance with
Section 1.4(1)(a) of the Third Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer. 

7. Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the denominations of $2,000 or any
integral multiple of $1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Securities may be presented for exchange or for registration of transfer (duly endorsed or
with the form of transfer endorsed thereon duly executed if so required by the Company or the Security Registrar) at the office of the Security Registrar or at the office of any transfer agent designated by the Company for such purpose. No service
charge will be made for any registration of transfer or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be required to:
(i) issue, register the transfer of, or exchange any Security during a period beginning at the opening of business 15 days before the day of mailing of a notice of redemption of less than all of the outstanding Securities of the same series and
ending at the close of business on the day of such mailing; (ii) register the transfer of or exchange any Security of any series or portions thereof selected for redemption, in whole or in part, except the unredeemed portion of any such
Security being redeemed in part; nor (iii) register the transfer of or exchange of a Security of any series between the applicable record date and the next succeeding Interest Payment Date. 

8. Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes. 

9. Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the
Company, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least one year after the date upon which the
principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall, upon request of the Company, be repaid to the Company, or (if then held by the Company) shall be discharged from such trust. After
return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors. 

10. Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority
in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding 

  
 B-5 

 
upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation
of such consent or waiver is made upon this Security. 
 11. Defaults and Remedies. If an Event of Default with respect to the
securities of a series issued pursuant to the Third Supplemental Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities of such series then Outstanding, by notice in writing to
the Company (and to the Trustee if notice is given by such holders), may declare the unpaid principal of, premium, if any, and accrued interest, if any, due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under
the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee
indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding securities of a series issued pursuant to the Third Supplemental Indenture will have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the securities of such series. 

12. Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain limitations imposed by the TIA,
or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar. 

13. No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement of the Indenture, or of any Security,
or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either
directly or through the Company or any such 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; it being expressly understood that the
Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as
such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the
Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every
such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the Indenture or in the Securities
or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities. 

14. Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall
for all purposes have the same effect as if set forth herein. 
 15. Authentication. This Security shall not be valid until the
Trustee manually signs the certificate of authentication attached to the other side of this Security. 
 16. Abbreviations. Customary
abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 17. Governing Law. The Base Indenture, the Third Supplemental Indenture
and this Security 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.

  
 B-6 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to 

 
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                     agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

 

			
	Date:	 	  

  

			
	 Your Signature:

	
	  

	(Sign exactly as your name appears on the face of this Security)

  

			
	Signature Guarantee:	 	  

  
 B-7 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.4(1) of the Third Supplemental Indenture, check
the box: 
  

			
	☐	  	1.4(1) Change of Control Triggering Event

 If you want to elect to have only part of this Security purchased by the Company pursuant to
Section 1.4(1) of the Third Supplemental Indenture, state the amount: $        . 
  

							
	Date:	 	  
	 		 	Your Signature:
		 		 		 	(Sign exactly as your name appears on the other side of the Security)
				
		 		 		 	Tax I.D. number

  

							
	Signature Guarantee:	 	  
	  		  	
		 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)	  		  	

  
 B-8 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

																	
	Date of Exchange	  	Amount of
decrease in
principal amount
of this Global
Security	 	  	Amount of
increase in
principal amount
of this Global
Security	 	  	Principal amount of
this Global Security
following such
decrease or increase	 	  	Signature of
authorized signatory
of Trustee or
Securities CustodianEX-4.1

 Exhibit 4.1 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN
THE INDENTURE) OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A
NOMINEE THEREOF, EXCEPT IN THE CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS SECURITY WILL BE A GLOBAL SECURITY SUBJECT TO THE
FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 

 UNITED PARCEL SERVICE, INC. 

 

			
	No. [●]	  	$[●]
		
	CUSIP: [●]	  	
	ISIN: [●]	  	

 Floating Rate Senior Notes due 2067 

United Parcel Service, Inc., a corporation duly organized and existing under the laws of Delaware (herein called the “Company”,
which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [●] Dollars ($[●]), or such other
principal amount as may be set forth in the records of the Securities Registrar hereinafter referred to in accordance with the Indenture, on March 15, 2067 and to pay interest thereon from the original issue date or from the most recent date to
which interest has been paid or duly provided for, on March 15, June 15, September 15 and December 15 of each year and on any maturity date (each, an “Interest Payment Date”), commencing June 15, 2017 and ending on
the maturity date. Interest on the Securities will be computed on the basis of the actual number of days elapsed over a 360-day year. The interest so payable and punctually paid or duly provided for on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be
the March 1, June 1, September 1 or December 1, as applicable (in each case, whether or not a Business Day), as the case may be, next preceding such Interest Payment Date; provided, however, that interest payable on any maturity
date shall be payable to the Person to whom the principal of this Security shall be payable. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either
be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be set by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of
this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Interest payable on any Interest Payment Date or maturity date shall be the amount of interest accrued from, and including, the immediately
preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the original issue date, if no interest has been paid or duly provided for with respect to the Securities) to, but excluding, such
Interest Payment Date or maturity date, as the case may be. If any Interest Payment Date (other than the maturity date) is not a Business Day at the relevant place of payment, the Company will pay interest on the next day that is a Business Day at
such place of payment as if payment were made on the date such payment was due, except that if such Business Day is in the immediately succeeding calendar month, such Interest Payment Date (other than the maturity date) shall be the immediately
preceding Business Day. If the maturity date of the Securities is not a Business Day at the relevant place of payment, the Company will 

 
pay interest, if any, and principal and premium, if any, on the next day that is a Business Day at such place of payment as if payment were made on the date such payment was due, and no interest
will accrue on the amounts so payable for the period from and after such date to the immediately succeeding Business Day. 
 “Business
Day” means any day (1) that is not a Saturday or Sunday and that is not a day on which banking institutions are authorized or obligated by law or executive order to close in The City of New York and, for any place of payment outside of The
City of New York, in such place of payment, and (2) that is also a “London business day”, which is a day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

The term “maturity,” when used with respect to a Security, means the date on which the principal of such Security or an installment
of principal becomes due and payable as therein provided or as provided in the indenture, whether at the stated maturity or by declaration of acceleration, call for redemption, repayment or otherwise. 

The interest rate on the Securities will be reset quarterly on March 15, June 15, September 15 and December 15 of each
year, as applicable, commencing June 15, 2017 (each, an “Interest Reset Date”). The Securities will bear interest at a per annum rate equal to three-month LIBOR (as defined below) for the applicable Interest Reset Period or Initial
Interest Period (each as defined below) minus 0.30% (30 basis points); provided, that the rate shall not be less than 0.00%. The interest rate for the Initial Interest Period will be three-month LIBOR, determined as of two London business days prior
to the original issue date, minus 0.30% per annum. The “Initial Interest Period” will be the period from and including the original issue date to but excluding the initial Interest Reset Date. Thereafter, each “Interest Reset
Period” will be the period from and including an Interest Reset Date to but excluding the immediately succeeding Interest Reset Date; provided that the final Interest Reset Period for the Securities will be the period from and including
the Interest Reset Date immediately preceding the maturity date of such Securities to but excluding the maturity date. 
 If any Interest
Reset Date would otherwise be a day that is not a Business Day, the Interest Reset Date will be postponed to the immediately succeeding day that is a Business Day, except that if that Business Day is in the immediately succeeding calendar month, the
Interest Reset Date shall be the immediately preceding Business Day. 
 The interest rate in effect on each day will be (i) if that day
is an Interest Reset Date, the interest rate determined as of the Interest Determination Date (as defined below) immediately preceding such Interest Reset Date or (ii) if that day is not an Interest Reset Date, the interest rate determined as
of the Interest Determination Date immediately preceding the most recent Interest Reset Date or the original issue date, as the case may be. 

The interest rate applicable to each Interest Reset Period commencing on the related Interest Reset Date, or the original issue date in the
case of the Initial Interest Period, will be the rate determined as of the applicable Interest Determination Date. The “Interest Determination Date” will be the second London business day immediately preceding the original issue date, in
the case of the initial Interest Reset Period, or thereafter the applicable Interest Reset Date. 

 The Bank of New York Mellon Trust Company, N.A., or its successor appointed by the Company, will
act as calculation agent. Three-month LIBOR will be determined by the calculation agent as of the applicable Interest Determination Date in accordance with the following provisions: 

(i) With respect to an Interest Determination Date, LIBOR will be the rate for deposits in U.S. dollars having a maturity of three months
commencing on the Interest Reset Date that appears on the designated LIBOR page as of approximately 11:00 a.m., London time, on that Interest Determination Date. If no rate appears, LIBOR, in respect of that Interest Determination Date, will be
determined as follows: the calculation agent shall request the principal London offices of each of four major reference banks in the London interbank market, as selected and identified by the Company to provide the calculation agent with its offered
quotation for deposits in U.S. dollars for the period of three months, commencing on the Interest Reset Date, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a
principal amount that is representative for a single transaction in U.S. dollars in that market at that time. If at least two quotations are provided, then LIBOR on that Interest Determination Date will be the arithmetic mean of those quotations. If
fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m., New York City time, on the Interest Determination Date by three major banks in The
City of New York selected and identified by the Company for loans in U.S. dollars to leading European banks, having a three-month maturity and in a principal amount that is representative for a single transaction in U.S. dollars in that market at
that time; provided, however, that if the banks selected and identified by the Company are not providing quotations in the manner described by this sentence, LIBOR for such Interest Determination Date will be LIBOR determined with respect to the
immediately preceding Interest Determination Date. 
 (ii) The designated LIBOR page is the Reuters screen “LIBOR01”, or any
successor service for the purpose of displaying the London interbank rates of major banks for U.S. dollars. The Reuters screen “LIBOR01” is the display designated as the Reuters screen “LIBOR01”, or such other page as may replace
the Reuters screen “LIBOR01” on that service or such other service or services as may be nominated for the purpose of displaying London interbank offered rates for U.S. dollar deposits by ICE Benchmark Administration Limited
(“IBA”) or its successor or such other entity assuming the responsibility of IBA or its successor in calculating the London Interbank Offered Rate in the event IBA or its successor no longer does so. 

All percentages resulting from any calculation of any interest rate for the Securities will be rounded, if necessary, to the nearest one
hundred thousandth of a percentage point, with five one-millionths of a percentage point rounded upward (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655)), and all dollar amounts will
be rounded to the nearest cent, with one-half cent being rounded upward. Any percentage resulting from any calculation of any interest rate for the Securities less than 0.00% will be deemed to be 0.00% (or
..000). 
 Promptly upon such determination, the calculation agent will notify the Company and the Trustee (if the calculation agent is not
the Trustee) of the interest rate for the new Interest Reset Period. Upon request of a Holder of the Securities, the calculation agent will provide to such Holder the interest rate in effect on the date of such request and, if determined, the
interest rate for the next Interest Reset Period. 

 All calculations made by the calculation agent for the purposes of calculating interest on the
Securities shall be conclusive and binding on the Holders and the Company, absent manifest errors. 
 Delivery of the Maturity Consideration
and payment of interest on this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, and payment of interest on this Security and the Maturity Consideration will
be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company, payment of interest may be made by check mailed
to the address of the Person entitled thereto as such address shall appear in the Security Register. 
 Reference is hereby made to the
further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

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

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

 

			
	Dated:	 	  

  

			
	 UNITED PARCEL SERVICE,
INC.

		
	 By:
	 	  

  

	
	Attest:
	
	  

 REVERSE OF SECURITY 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of August 26, 2003 (as supplemented, herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of
New York Mellon Trust Company, N.A. (as successor to Citibank, N.A.), as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security
is one of the series designated on the face hereof. 
 The Securities of this series may be redeemed at any time, at the option of the
Company, in whole or in part, in amounts of $1,000 or any multiple of $1,000 in excess thereof, at the following Redemption Prices (in each case expressed as a percentage of the principal amount), if redeemed during the 6-month periods beginning on March 15 and September 15 of any of the following years: 
  

					
	 Year
	  	Price	 
		
	 March 15, 2047
	  	 	105.00	% 
		
	 September 15, 2047
	  	 	105.00	% 
		
	 March 15, 2048
	  	 	104.50	% 
		
	 September 15, 2048
	  	 	104.50	% 
		
	 March 15, 2049
	  	 	104.00	% 
		
	 September 15, 2049
	  	 	104.00	% 
		
	 March 15, 2050
	  	 	103.50	% 
		
	 September 15, 2050
	  	 	103.50	% 
		
	 March 15, 2051
	  	 	103.00	% 
		
	 September 15, 2051
	  	 	103.00	% 
		
	 March 15, 2052
	  	 	102.50	% 
		
	 September 15, 2052
	  	 	102.50	% 
		
	 March 15, 2053
	  	 	102.00	% 
		
	 September 15, 2053
	  	 	102.00	% 
		
	 March 15, 2054
	  	 	101.50	% 
		
	 September 15, 2054
	  	 	101.50	% 
		
	 March 15, 2055
	  	 	101.00	% 
		
	 September 15, 2055
	  	 	101.00	% 
		
	 March 15, 2056
	  	 	100.50	% 
		
	 September 15, 2056
	  	 	100.50	% 
		
	 March 15, 2057 and thereafter to maturity
	  	 	100.00	% 

 and thereafter at 100% of the principal amount, in each case, together with any accrued and unpaid interest to the Redemption
Date (subject to the right of Holders of record on the relevant Regular Record Dates to receive interest due on an Interest Payment Date). 

 The Company must mail notice of any redemption at least 30 days but not more than 60 days before
the Redemption Date to each Holder of the Securities to be redeemed. Unless the Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions of the Securities
called for redemption. 
 In the event of any redemption of less than all the outstanding Securities, the particular Securities (or portions
of Securities in multiples of $1,000) to be redeemed shall be selected by the Trustee by the method the Trustee considers fair and appropriate. In the event of redemption of this Security in part only, a new Security or Securities of this series and
of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 The
Securities of this series will be repayable at the option of the Holder, in whole or in part, on the repayment dates and at the repayment prices (in each case expressed as a percentage of the principal amount) set forth in the following table: 

 

					
	 Date
	  	Redemption Price	 
		
	 March 15, 2018
	  	 	98.00	% 
		
	 September 15, 2018
	  	 	98.00	% 
		
	 March 15, 2019
	  	 	98.00	% 
		
	 September 15, 2019
	  	 	98.00	% 
		
	 March 15, 2020
	  	 	98.00	% 
		
	 September 15, 2020
	  	 	98.00	% 
		
	 March 15, 2021
	  	 	98.00	% 
		
	 September 15, 2021
	  	 	98.00	% 
		
	 March 15, 2022
	  	 	98.00	% 
		
	 September 15, 2022
	  	 	98.00	% 
		
	 March 15, 2023
	  	 	99.00	% 
		
	 September 15, 2023
	  	 	99.00	% 
		
	 March 15, 2024
	  	 	99.00	% 
		
	 September 15, 2024
	  	 	99.00	% 
		
	 March 15, 2025
	  	 	99.00	% 
		
	 September 15, 2025
	  	 	99.00	% 
		
	 March 15, 2026
	  	 	99.00	% 
		
	 September 15, 2026
	  	 	99.00	% 
		
	 March 15, 2027
	  	 	99.00	% 
		
	 September 15, 2027
	  	 	99.00	% 
		
	 March 15, 2028
	  	 	100.00	% 

 and on March 15 of every second year thereafter at 100% of the principal amount, through and including March 15,
2064, in each case, together with any accrued and unpaid interest to the redemption date (subject to the rights of Holders of record on relevant Regular Record Dates to receive interest due on an Interest Payment Date). 

In order for a Security to be repaid, the paying agent must receive, at least 30 but not more than 60 calendar days before the optional
repayment date, (1) the Security with the form 

 
entitled “Option to Elect Repayment” on the reverse of the Security duly completed or (2) a telegram, facsimile transmission or a letter from a member of a national securities
exchange or a member of the Financial Industry Regulatory Authority, Inc. or a commercial bank or trust company in the United States which must set forth: 
  

	 	(i)	the name of the Holder of the Security; 

  

	 	(ii)	the principal amount of the Security; 

  

	 	(iii)	the principal amount of the Security to be repaid; 

  

	 	(iv)	the certificate number or a description of the tenor and terms of the Security; 

  

	 	(v)	a statement that the option to elect repayment is being exercised; and 

  

	 	(vi)	a guarantee that the Security is to be repaid. 

 These items, together with the duly completed
form entitled “Option to Elect Repayment” on the reverse of the Security, must be received by the paying agent not later than the fifth Business Day after the date of that telegram, facsimile transmission or letter. The repayment option
may be exercised by the Holder of a Security for less than the entire principal amount of the Security but, in that event, the principal amount of the Security remaining outstanding after repayment must be in an authorized denomination. 

If a Tax Event occurs, the Company may shorten the maturity of the Securities, without the consent of the Holders, to the minimum extent
required, in the opinion of nationally recognized independent tax counsel, so that, after shortening the maturity, interest paid on the Securities will be deductible for United States Federal income tax purposes or, if that counsel cannot opine
definitively as to such a minimum period, the minimum extent so required to maintain the Company’s interest deduction to the extent deductible under current law as determined in good faith by the Board of Directors, after receipt of an opinion
of counsel regarding the applicable legal standards. In that case, the amount payable on those Securities on that new maturity date will be equal to 100% of the principal amount of those Securities plus interest accrued on those Securities to the
date those Securities mature on that new maturity date. If the Company elects to exercise its right to shorten the maturity of the Securities when a Tax Event occurs, the Company will mail a notice to each Holder by first-class mail not more than 60
days after the occurrence of the Tax Event, stating the new maturity date of the Securities. This notice shall be effective immediately upon mailing. 

“Tax Event” means that the Company shall have received an opinion of nationally recognized independent tax counsel to the effect
that, as a result of: 
  

	 	(i)	any amendment to, clarification of, or change (including any announced prospective amendment, clarification or change) in any law, or any regulation thereunder, of the United States; 

 

	 	(ii)	 any judicial decision, official administrative pronouncement, ruling, regulatory

	 	
procedure, regulation, notice or announcement, including any notice or announcement of intent to adopt or promulgate any ruling, regulatory procedure or regulation (any of the foregoing, an
“administrative or judicial action”); or 

  

	 	(iii)	any amendment to, clarification of, or change in any official position with respect to, or any interpretation of, an administrative or judicial action or a law or regulation of the United States that differs from the
previously generally accepted position or interpretation, 

 in each case, occurring on or after March 31, 2017, there is more than an
insubstantial increase in the risk that interest paid by the Company on the Securities is not, or will not be, deductible, in whole or in part, by the Company for United States Federal income tax purposes. 

The Company will not create, assume, incur or guarantee, and will not permit any Restricted Subsidiary to create, assume, incur or guarantee,
any Secured Indebtedness without making provision whereby this Security shall be secured equally and ratably with, or prior to, such Secured Indebtedness, together with, if the Company shall so determine, any other Indebtedness of the Company or any
Restricted Subsidiary then existing or thereafter created that is not subordinate to this Security, so long as the Secured Indebtedness shall be outstanding, unless such Secured Indebtedness, when added to (a) the aggregate amount of all
Secured Indebtedness then outstanding (not including in this computation Secured Indebtedness if this Security is secured equally and ratably with (or prior to) such Secured Indebtedness and further not including in this computation any Secured
Indebtedness that is concurrently being retired) and (b) the aggregate amount of all Attributable Debt then outstanding pursuant to Sale and Leaseback Transactions entered into by the Company after January 26, 1999, or entered into by a
Restricted Subsidiary after January 26, 1999 or, if later, the date on which it became a Restricted Subsidiary (not including in this computation any Attributable Debt that is concurrently being retired), would not exceed 10% of Consolidated
Net Tangible Assets. 
 The Company will not, and will not permit any Restricted Subsidiary to, enter into any Sale and Leaseback
Transaction unless (a) the sum of (i) the Attributable Debt to be outstanding pursuant to such Sale and Leaseback Transaction, (ii) all Attributable Debt then outstanding pursuant to all other Sale and Leaseback Transactions entered
into by the Company after January 26, 1999, or entered into by a Restricted Subsidiary after January 26, 1999 or, if later, the date on which it became a Restricted Subsidiary, and (iii) the aggregate of all Secured Indebtedness then
outstanding (not including in this computation Secured Indebtedness if this Security is secured equally and ratably with (or prior to) such Secured Indebtedness) would not exceed 10% of Consolidated Net Tangible Assets, or (b) an amount equal
to the greater of (i) the net proceeds to the Company or the Restricted Subsidiary of the sale of the Principal Property sold and leased back pursuant to such Sale and Leaseback Transaction and (ii) the amount of Attributable Debt to be
outstanding pursuant to such Sale and Leaseback Transaction is applied to the retirement of Funded Debt of the Company or any Restricted Subsidiaries (other than Funded Debt that is subordinate to this Security or is owing to the Company or any
Restricted Subsidiaries or is scheduled to mature within one year after consummation of such Sale and Leaseback Transaction) within 180 days after the consummation of such Sale and Leaseback Transaction. 

 Default in the performance, or breach, of either of the covenants set forth in the preceding two
paragraphs will be an “Event of Default” under Section 5.01 of the Indenture, and the covenants set forth in the preceding two paragraphs will be subject to defeasance in accordance with Section 13.03 of the Indenture. 

“Attributable Debt” means, as of the date of its determination, the present value (discounted semiannually at an interest rate of
7.0% per annum) of the obligation of a lessee for rental payments pursuant to any Sale and Leaseback Transaction (reduced by the amount of the rental obligations of any sublessee of all or part of the same property) during the remaining term of such
Sale and Leaseback Transaction (including any period for which the lease relating thereto has been extended), such rental payments not to include amounts payable by the lessee for maintenance and repairs, insurance, taxes, assessments and similar
charges and for contingent rents (such as those based on sales). In the case of any Sale and Leaseback Transaction in which the lease is terminable by the lessee upon the payment of a penalty, such rental payments shall be considered for purposes of
this definition to be the lesser of the discounted values of (a) the rental payments to be paid under such Sale and Leaseback Transaction until the first date (after the date of such determination) upon which it may be so terminated plus the
then applicable penalty upon such termination, and (b) the rental payments required to be paid during the remaining term of such Sale and Leaseback Transaction (assuming such termination provision is not exercised). 

“Capitalized Lease Obligation” means any obligation to pay rent or other amounts under a lease of (or other agreement conveying the
right to use) real or personal property that is required to be classified and accounted for as a capital lease obligation under generally accepted accounting principles, and, for the purposes of this Security, the amount of such obligation at any
date shall be the capitalized amount thereof at such date, determined in accordance with such principles. 
 “Consolidated Net Tangible
Assets” means at any date, the total assets appearing on the Company’s most recently prepared consolidated balance sheet as of the end of the Company’s fiscal quarter, prepared in accordance with generally accepted accounting
principles, less (a) all current liabilities as shown on such balance sheet and (b) Intangible Assets. 
 “Funded Debt”
means any indebtedness maturing by its terms more than one year from its date of issue, including any indebtedness renewable or extendable at the option of the obligor to a date later than one year from the date of the original issuance thereof.

 “Indebtedness” means (a) any liability of any Person (i) for borrowed money, or under any reimbursement obligation
relating to a letter of credit, (ii) evidenced by a bond, note, debenture or similar instrument, including a purchase money obligation, given in connection with the acquisition of any businesses, properties or assets of any kind or with
services incurred in connection with capital expenditures, other than a trade payable or a current liability arising in the ordinary course of business, or (iii) for the payment of money relating to a Capitalized Lease Obligation, or
(iv) for Interest Rate Protection Obligations; (b) any liability of others described in the preceding clause (a) that the Person has guaranteed or that is otherwise its legal liability; and (c) any amendment, supplement,
modification, deferral, renewal, extension or refunding of any liability of the types referred to in clauses (a) and (b) above. 

 “Intangible Assets” means at any date the value (net of any applicable reserves), as
shown on or reflected in the Company’s most recently prepared consolidated balance sheet, prepared in accordance with generally accepted accounting principles, of: (a) all trade names, trademarks, licenses, patents, copyrights and
goodwill; (b) organizational and development costs; (c) deferred charges (other than prepaid items such as insurance, taxes, interest, commissions, rents and similar items and tangible assets being amortized); and (d) unamortized debt
discount and expense, less unamortized premium. 
 “Interest Rate Protection Obligations” of any Person means the obligations of
such Person pursuant to any arrangement with any other Person whereby, directly or indirectly, such Person is entitled to receive from time to time periodic payments calculated by applying a fixed rate of interest on a stated notional amount in
exchange for periodic payments made by such Person calculated by applying a floating rate of interest on the same notional amount. 

“Liens” means any mortgage, lien, pledge, security interest, charge or encumbrance. 

“Principal Property” means any land, land improvements, buildings and associated factory, distribution, laboratory and office
equipment (excluding any motor vehicles, aircraft, mobile materials handling equipment, data processing equipment and rolling stock) constituting a distribution facility, operating facility, manufacturing facility, development facility, warehouse
facility, service facility or office facility (including any portion thereof), which facility (a) is owned by or leased to the Company or any Restricted Subsidiary, (b) is located within the United States and (c) has an acquisition
cost plus capitalized improvements in excess of 0.50% of Consolidated Net Tangible Assets as of the date of such determination, other than (i) any such facility, or portion thereof, which has been financed by obligations issued by or on behalf
of a State, a Territory or a possession of the United States, or any political subdivision of any of the foregoing, or the District of Columbia, the interest on which is excludable from gross income of the holders thereof (other than a
“substantial user” of such facility or a “related Person” as those terms are used in Section 103 of the Internal Revenue Code of 1986, as amended (the “Code”)) pursuant to the provisions of Section 103 of the
Code (or any similar provision hereafter enacted) as in effect at the time of issuance of such obligations, (ii) any such facility that the Board of Directors may by Board Resolution declare is not of material importance to the Company and the
Restricted Subsidiaries taken as a whole and (iii) any such facility, or portion thereof, owned or leased jointly or in common with one or more Persons other than the Company and any Subsidiary and in which the interest of the Company and all
Subsidiaries does not exceed 50%. 
 “Restricted Securities” means any shares of the capital stock or Indebtedness of any
Restricted Subsidiary. 
 “Restricted Subsidiary” means (a) any Subsidiary (i) which has substantially all its property
within the United States of America, (ii) which owns or is a lessee of any Principal Property and (iii) in which the investment of the Company and all other Subsidiaries exceeds 0.50% of Consolidated Net Tangible Assets as of the date of
such determination; provided, however, that the term “Restricted Subsidiary” shall not include: (A) any Subsidiary (x) primarily engaged in the business of purchasing, holding, collecting, servicing or otherwise dealing in and
with installment sales contracts, leases, trust receipts, mortgages, commercial paper or other financing instruments, and any collateral or agreements relating thereto, including 

 
in the business, individually or through partnerships, of financing, whether through long- or short-term borrowings, pledges, discounts or otherwise, the sales, leasing or other operations of the
Company and the Subsidiaries or any of them, or (y) engaged in the business of financing the assets and operations of third parties, and (z) in any case, not, except as incidental to such financing business, engaged in owning, leasing or
operating any property which, but for this proviso, would qualify as Principal Property or (B) any Subsidiary acquired or organized after January 26, 1999, for the purpose of acquiring the stock or business or assets of any Person other
than the Company or any Restricted Subsidiary, whether by merger, consolidation, acquisition of stock or assets or similar transaction analogous in purpose or effect, so long as such Subsidiary does not acquire by merger, consolidation, acquisition
of stock or assets or similar transaction analogous in purpose or effect all or any substantial part of the business or assets of the Company or any Restricted Subsidiary; and (b) any other Subsidiary that is hereafter designated by the Board
of Directors as a Restricted Subsidiary. 
 “Sale and Leaseback Transaction” means any arrangement with any Person providing for
the leasing by the Company or any Restricted Subsidiary of any Principal Property (whether such Principal Property is now owned or hereafter acquired) that has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such
Person, other than (a) leases for a term, including renewals at the option of the lessee, of not more than three years; (b) leases between the Company and a Restricted Subsidiary or between Restricted Subsidiaries and (c) leases of
Principal Property executed by the time of, or within 180 days after the latest of, the acquisition, the completion of construction or improvement (including any improvements on property that will result in such property becoming a Principal
Property), or the commencement of commercial operation of such Principal Property. 
 “Secured Indebtedness” means
(a) Indebtedness of the Company or a Restricted Subsidiary that is secured by any Lien upon any Principal Property or Restricted Securities, and (b) Indebtedness of the Company or a Restricted Subsidiary in respect of any conditional sale
or other title retention agreement covering Principal Property or Restricted Securities; but “Secured Indebtedness” shall not include any of the following: 

(a) Indebtedness of the Company and the Restricted Subsidiaries outstanding on January 26, 1999, secured by then existing
Liens upon, or incurred in connection with conditional sales agreements or other title retention agreements with respect to Principal Property or Restricted Securities; 

(b) Indebtedness that is secured by (i) purchase money Liens upon Principal Property acquired after January 26, 1999,
(ii) Liens placed on Principal Property after January 26, 1999, during construction or improvement thereof (including any improvements on property which will result in such property becoming Principal Property) or placed thereon within 180 days
after the later of acquisition, completion of construction or improvement or the commencement of commercial operation of such Principal Property or improvement, or placed on Restricted Securities acquired after January 26, 1999 or
(iii) conditional sale agreements or other title retention agreements with respect to any Principal Property or Restricted Securities acquired after January 26, 1999, if (in each case referred to in this subparagraph (b)) (x) such Lien or
agreement secures all or any part of the Indebtedness incurred for the purpose of financing all or any 

 
part of the purchase price or cost of construction of such Principal Property or improvement or Restricted Securities and (y) such Lien or agreement does not extend to any Principal Property
or Restricted Securities other than the Principal Property so acquired or the Principal Property, or portion thereof, on which the property so constructed or such improvement is located; provided, however, that the amount by which the aggregate
principal amount of Indebtedness secured by any such Lien or agreement exceeds the cost to the Company or such Restricted Subsidiary of the related acquisition, construction or improvement will be considered to be “Secured Indebtedness;”

 (c) Indebtedness that is secured by Liens on Principal Property or Restricted Securities, which Liens exist at the time of
acquisition (by any manner whatsoever) of such Principal Property or Restricted Securities by the Company or a Restricted Subsidiary; 

(d) Indebtedness of Restricted Subsidiaries owing to the Company or any other Restricted Subsidiary and Indebtedness of the
Company owing to any Restricted Subsidiary; 
 (e) In the case of any corporation that becomes (by any manner whatsoever) a
Restricted Subsidiary after January 26, 1999, Indebtedness that is secured by Liens upon, or conditional sale agreements or other title retention agreements with respect to, its property that constitutes Principal Property or Restricted
Securities, which Liens exist at the time such corporation becomes a Restricted Subsidiary; 
 (f) Guarantees by the Company
of Secured Indebtedness and Attributable Debt of any Restricted Subsidiaries and guarantees by a Restricted Subsidiary of Secured Indebtedness and Attributable Debt of the Company and any other Restricted Subsidiaries; 

(g) Indebtedness arising from any Sale and Leaseback Transaction; 

(h) Indebtedness secured by Liens on property of the Company or a Restricted Subsidiary in favor of the United States of
America, any State, Territory or possession thereof, or the District of Columbia, or any department, agency or instrumentality or political subdivision of the United States of America or any State, Territory or possession thereof, or the District of
Columbia, or in favor of any other country or any political subdivision thereof, if such Indebtedness was incurred for the purpose of financing all or any part of the purchase price or the cost of construction of the property subject to such Lien;
provided, however, that the amount by which the aggregate principal amount of Indebtedness secured by any Lien exceeds the cost to the Company or the Restricted Subsidiary of the related acquisition or construction will be considered to be
“Secured Indebtedness”; 
 (i) Indebtedness secured by Liens on aircraft, airframes or aircraft engines, aeronautic
equipment or computers and electronic data processing equipment; and 
 (j) The replacement, extension or renewal, or
successive replacements, extensions or renewals, of any Indebtedness, in whole or in part, excluded from the definition of “Secured Indebtedness” by subparagraphs (a) through (i) above; provided, however, that no Lien securing, or
conditional sale or title retention agreement with respect to, such 

 
Indebtedness will extend to or cover any Principal Property or any Restricted Securities, other than such property that secured the Indebtedness so replaced, extended or renewed, plus
improvements on or to any such Principal Property, provided further, however, that to the extent that such replacement, extension or renewal increases the principal amount of Indebtedness secured by such Lien or is in a principal amount in excess of
the principal amount of Indebtedness excluded from the definition of “Secured Indebtedness” by subparagraphs (a) through (i) above, the amount of such increase or excess will be considered to be “Secured Indebtedness.” 

In no event shall the foregoing provisions be interpreted to mean that the same Indebtedness is included more than once in the calculation of
“Secured Indebtedness” as that term is used in this Security, nor shall their operation cause this result. 
 If an Event of
Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series issued under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the
time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders
of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be
conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the
right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made a written request to the Trustee to institute proceedings in respect
of such Event of Default as Trustee and offered the Trustee indemnity satisfactory to the trustee, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a
direction inconsistent with such request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this
Security for the enforcement of any payment or delivery of the Maturity Consideration hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall affect or impair the obligation of the
Company, which is absolute and unconditional, to pay the Maturity Consideration and interest on this Security at the times, place and rate, and in the manner, herein prescribed. 

 As provided in the Indenture and subject to certain limitations set forth therein and in this
Security, the transfer of this Security is registrable in the Security Register upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the Maturity Consideration and interest on this
Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon
one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiples of
$1,000 in excess thereof. As provided in the Indenture and subject to certain limitations set forth therein, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor in different
authorized denomination, as requested by the Holder surrendering the same. 
 No service charge shall be made for any such registration of
transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

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

The Indenture contains provisions whereby (i) the Company may be discharged from its obligations with respect to the Securities (subject
to certain exceptions) or (ii) the Company may be released from its obligation under specified covenants and agreements in the Indenture, in each case if the Company irrevocably deposits with the Trustee money or U.S. Government Obligations
sufficient to pay and discharge the entire indebtedness on all Securities of this series, and satisfies certain other conditions, all as more fully provided in the Indenture. 

This Security shall be governed by and construed in accordance with the laws of the State of New York without giving effect to principles of
conflicts of laws of such state. 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to
them in the Indenture. 

 This is one of the Securities of the series designated herein referred to in the Indenture. 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	As Trustee
		
	By:	 	  

		 	Authorized Signatory

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 

Insert Taxpayer Identification No. 

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

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

 

			
	      

	By:	 	
	Date:	 	

 SCHEDULE OF INCREASES OR DECREASES IN SECURITY 

The following increases or decreases in this Security have been made: 

 

																	
	 Date of Exchange
	  	Amount of decrease in
Principal Amount of this
Security	 	  	Amount of increase in
Principal Amount of this
Security	 	  	Principal Amount of this
Security following such
decrease or increase	 	  	Signature of authorized
officer of Trustee or
Securities Custodian	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

 OPTION TO ELECT REPAYMENT 

If you elect to have this Security purchased by the Company pursuant to the terms of the Security, check the box: 

 
 ☐ 

If you want to elect to have only part of this Security purchased by the Company pursuant to the terms of the Security, state the amount in
principal amount (must be in denominations of $1,000 or an integral multiple of $1,000 in excess thereof): $             and specify the denomination or denominations (which shall not be
less than the minimum authorized denomination) of the Securities to be issued to the Holder for the portion of the Security not being repurchased (in the absence of any such specification, one such Security will be issued for the portion not being
repurchased):                     . 
  

							
	Date:	 	      
	  	Your Signature	 	  

		 		  		 	(Sign exactly as your name appears on the other side of the Security)

  

			
	Signature Guarantee:	  	  

	(Signature must be guaranteed)

 The signature(s) should 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.

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