Document:

First Supplemental Indenture

 EXHIBIT 4.2 
 EXECUTION VERSION 
 FIRST SUPPLEMENTAL INDENTURE 

Dated as of December 20, 2010 
 to 
 INDENTURE 

Dated as of December 20, 2010 
 Between 
 C. R. BARD, INC., 

as Issuer 

and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Trustee 
  

 
 2.875% Notes
due 2016 
 4.400% Notes due 2021 

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	ARTICLE 1.	 	DEFINITIONS	  	 	2	  
			
	 Section 1.1.
	 	 Definition of Terms
	  	 	2	  
			
	 Section 1.2.
	 	 Additional Defined Terms
	  	 	2	  
			
	ARTICLE 2.	 	TERMS AND CONDITIONS OF NOTES	  	 	6	  
			
	 Section 2.1.
	 	 Designation and Principal Amount
	  	 	6	  
			
	 Section 2.2.
	 	 Maturity
	  	 	7	  
			
	 Section 2.3.
	 	 Further Issues
	  	 	7	  
			
	 Section 2.4.
	 	 Payment
	  	 	7	  
			
	 Section 2.5.
	 	 Global Securities
	  	 	7	  
			
	 Section 2.6.
	 	 Interest
	  	 	7	  
			
	 Section 2.7.
	 	 Authorized Denominations
	  	 	8	  
			
	 Section 2.8.
	 	 Redemption and Sinking Fund
	  	 	8	  
			
	 Section 2.9.
	 	 Ranking
	  	 	8	  
			
	 Section 2.10.
	 	 Appointments
	  	 	8	  
			
	 Section 2.11.
	 	 Defeasance
	  	 	8	  
			
	ARTICLE 3.	 	REDEMPTION OF THE NOTES	  	 	8	  
			
	 Section 3.1.
	 	 Optional Redemption by the Company
	  	 	8	  
			
	ARTICLE 4.	 	ADDITIONAL COVENANTS	  	 	9	  
			
	 Section 4.1.
	 	 Limitations on Liens
	  	 	9	  
			
	 Section 4.2.
	 	 Limitations on Sale and Leaseback Transactions
	  	 	11	  
			
	 Section 4.3.
	 	 Change of Control Triggering Event
	  	 	12	  
			
	ARTICLE 5.	 	SATISFACTION AND DISCHARGE	  	 	14	  
			
	 Section 5.1.
	 	 Defeasance and Discharge of Obligations
	  	 	14	  
			
	ARTICLE 6.	 	FORM OF NOTES	  	 	15	  
			
	 Section 6.1.
	 	 Form of Notes
	  	 	15	  
			
	ARTICLE 7.	 	ORIGINAL ISSUE OF NOTES	  	 	15	  
			
	 Section 7.1.
	 	 Original Issue of Notes
	  	 	15	  
			
	ARTICLE 8.	 	MISCELLANEOUS	  	 	15	  
			
	 Section 8.1.
	 	 Ratification of Indenture
	  	 	15	  
			
	 Section 8.2.
	 	 Trustee Not Responsible for Recitals
	  	 	15	  
			
	 Section 8.3.
	 	 Governing Law
	  	 	15	  
			
	 Section 8.4.
	 	 Separability
	  	 	15	  

							
	 Section 8.5.
	 	 Counterparts
	  	 	15	  
		
	EXHIBIT A – Form of 2016 Notes	  	 	A-1	  
		
	EXHIBIT B – Form of 2021 Notes	  	 	B-1	  

  
 ii 

 FIRST SUPPLEMENTAL INDENTURE, dated as of December 20, 2010 (this “Supplemental
Indenture”), between C. R. BARD, INC., a corporation duly organized and existing under the laws of the State of New Jersey (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association duly
organized and existing under the laws of the United States, as Trustee (the “Trustee”). 
 RECITALS OF THE
COMPANY 
 WHEREAS, the Company executed and delivered to the Trustee the Indenture, dated as of December 20, 2010, (the
“Indenture”), to provide for the issuance of the Company’s debt securities (the “Securities”), to be issued in one or more series; 
 WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a new series of its Securities under the Indenture to be known as its “2.875% Notes due
2016” (the “2016 Notes”) and “4.400% Notes due 2021” (the “2021 Notes” and, together with the 2016 Notes, the “Notes”), the form and substance and the terms, provisions and conditions
thereof to be set forth as provided in the Indenture and this Supplemental Indenture; 
 WHEREAS, the Board of Directors of the
Company by duly adopted resolutions has authorized the proper officers of the Company to, among other things, determine the terms of the Securities to be issued under the Indenture and execute any and all appropriate documents necessary or
appropriate to effect each such issuance; 
 WHEREAS, this Supplemental Indenture is being entered into pursuant to the
provisions of Section 901(8) of the Indenture; 
 WHEREAS, the Company has requested that the Trustee execute and deliver
this Supplemental Indenture; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid and binding
agreement of the Company enforceable against the Company in accordance with its terms, in accordance with its terms, and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid and binding
obligations of the Company enforceable against the Company in accordance with their terms, have been performed, and the execution and delivery of this Supplemental Indenture has been duly authorized in all respects; 

 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, and for the purpose of setting forth, as
provided in the Indenture, the forms and terms of the Notes, the Company covenants and agrees, with the Trustee, as follows: 

ARTICLE 1. 

DEFINITIONS 
 Section 1.1. Definition of Terms. Unless the context otherwise requires: 
 (a) each term defined in the Indenture has the same meaning when used in this Supplemental Indenture; 
 (b) the singular includes the plural, and vice versa; and 
 (c) headings
are for convenience of reference only and do not affect interpretation. 
 Section 1.2. Additional Defined
Terms. As used herein, the following defined terms shall have the following meanings with respect to the Notes only: 

“Attributable Debt” means, in respect of a Sale and Leaseback Transaction, as of any particular time, the present value
(discounted at the rate of interest implicit in the terms of the lease involved in such Sale and Leaseback Transaction, as determined in accordance with GAAP if known or if not known using a discount factor equal to the weighted average yield to
maturity of the Notes of all series then outstanding and compounded semiannually) of the obligation of the lessee thereunder for rental payments (excluding, however, any amounts required to be paid by such lessee, whether or not designated as rent
or additional rent, on account of maintenance and repairs, insurance, taxes, assessments, water rates or similar charges or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales, maintenance and repairs,
insurance, taxes, assessments, water rates or similar charges) during the remaining term of such lease (including any period for which such lease has been extended or may, at the option of the lessor, be extended). 

“Capital Stock” means the capital stock of every class whether now or hereafter authorized, regardless of whether such
capital stock shall be limited to a fixed sum or percentage with respect to the rights of the holders thereof to participate in dividends and in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of
such corporation. 
 “Change of Control” means the occurrence of any of the following: 

 

	 	•	 	 the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of
related transactions, of all or substantially all of the 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), other than to the Company or one of
its subsidiaries or a person controlled by the Company or one of the Company’s Subsidiaries; 

  

	 	•	 	 the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as
that term is used in Section 13(d)(3) of the Exchange Act), other than the 

  
 2 

	 	 
Company or one of its Subsidiaries, becomes the “beneficial owner” (as defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the
Company’s then 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; 

 

	 	•	 	 the first day on which a majority of the members of the Company’s board of directors are not Continuing Directors; or

  

	 	•	 	 the adoption of a plan relating to the Company’s liquidation or dissolution. 

Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (a) the Company becomes a direct or
indirect wholly-owned Subsidiary of a holding company and (b)(x) immediately following that transaction, the direct or indirect holders of the Voting Stock of the holding company are substantially the same as the holders of the Company’s Voting
Stock immediately prior to that transaction or (y) immediately following that transaction, no person is the beneficial owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company. 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 

“Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent
Investment Banker as having a 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 a comparable maturity to the remaining term of the Notes being redeemed. 
 “Comparable Treasury
Price” means, with respect to any redemption date, 
  

	 	•	 	 the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer
Quotations, or 

  

	 	•	 	 if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury
Dealer Quotations so received. 

 “Consolidated Net Tangible Assets” means the total amount
of assets (less applicable reserves and other properly deductible items) after deducting (1) all current liabilities (excluding the amount of those which are by their terms extendable or renewable at the option of the obligor to a date more
than 12 months after the date as of which the amount is being determined) and (2) all customer lists, computer software, licenses, patents, patent applications, copyrights, trademarks, trade names, goodwill, capitalized research and development
costs and other like intangibles, treasury stock and unamortized debt discount and expense, and all other like intangible assets, all as stated on the Company’s most recent publicly available consolidated balance sheet preceding the date of
determination and determined in accordance with GAAP. 

  
 3 

 “Continuing Directors” means, as of any date of determination, any member
of the Company’s board of directors who: 
  

	 	•	 	 was a member of such board of directors on the first date that the Notes were first issued; or 

 

	 	•	 	 was nominated for election, elected or appointed to such board of directors with the approval of a majority of the Continuing Directors who were
members of such board of directors at the time of such nomination, election or appointment (either by a specific vote or by approval of a proxy statement in which such member was named as a nominee for election as a director).

 “Debt” means any and all of the obligations of a Person for money borrowed or evidenced by
bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof) if and to the extent any of the foregoing would appear as a liability upon a balance sheet of such person as of the date of which
the Debt is to be determined. 
 “GAAP” means generally accepted accounting principles set forth in the FASB
Accounting Standards Codification or in such other statements by such other entity as may be approved by a significant segment of the accounting profession of the United States, as in effect from time to time. At any time after the initial date of
issuance of the Notes, the Company may elect (by providing written notice to the trustee) to apply International Financial Reporting Standards (“IFRS”) in lieu of GAAP and, upon any such election, references herein to GAAP shall
thereafter be construed to mean IFRS (except as otherwise provided herein); provided that any such election, once made, shall be irrevocable. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company to act as the “Independent Investment Banker.” 

“Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating
categories of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P). 
 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or
preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement, and any financing lease having substantially the same economic effect as any of the foregoing) on or with respect to any
property. 
 “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s
Corporation, and its successors. 

  
 4 

 “Person” means an individual, a corporation, a company, a voluntary
association, a partnership, a trust, a joint venture, a limited liability company, an unincorporated organization, or a government or any agency, instrumentality or political subdivision thereof. 

“Rating Agencies” means: 
  

	 	•	 	 each of Moody’s and S&P; and 

  

	 	•	 	 if either of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the
Company’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act that is selected by the Company (as certified by a resolution of the Company’s
board of directors) as a replacement agency for Moody’s or S&P, or each of them, as the case may be. 

“Rating Event” means, with respect to the Notes, the rating of such Notes is lowered below Investment Grade by either of
the Rating Agencies on any date during the period commencing 60 days prior to the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of
Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by either of the Rating Agencies). 

“Reference Treasury Dealer” means Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs &
Co., their successors and two other nationally recognized investment banking firms, that are primary U.S. Government securities dealers in New York City (each, a “Primary Treasury Dealer”) specified from time to time by us; provided,
however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor another nationally recognized investment banking firm that is a Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date,
the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue for the Notes (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent
Investment Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third business day preceding that redemption date. 
 “Restricted Property” means any manufacturing facility or plant, warehouse, or distribution facility owned, or leased, by the Company or a Subsidiary and located within the United States,
including Puerto Rico, the gross book value (including related land, machinery and equipment without deduction of any depreciation reserves) of which is not less than 2% of Consolidated Tangible Net Assets as stated on the Company’s most recent
publicly available consolidated balance sheet preceding the date of determination, other than any such manufacturing facility or plant, warehouse or distribution facility which the board of directors reasonably determines is not material to the
operation of the Company’s business and its Subsidiaries, taken as a whole. 

  
 5 

 “Sale and Leaseback Transaction” means an arrangement with any person
providing for the leasing by C. R. Bard, Inc. or a Subsidiary of any Restricted Property whereby such Restricted Property has been or is to be sold or transferred by C. R. Bard, Inc. or a Subsidiary to such person other than C. R. Bard, Inc. or any
Subsidiary; provided, however, that the foregoing shall not apply to any such arrangement involving a lease for a term, including extension or renewal rights, for not more than three years. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its
successors. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership, joint venture,
limited liability company or other business entity of which a majority of the outstanding shares or other interests having voting power is at the time directly or indirectly owned or controlled by such Person or one or more of the Subsidiaries of
such Person. Unless the context otherwise requires, all references to Subsidiary or Subsidiaries herein shall refer to the Company’s Subsidiaries. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to maturity of the applicable Comparable Treasury Issue, calculated
on the third business day preceding the redemption date, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the related Comparable Treasury Price for such redemption date. 

“Voting Stock” means, with respect to any specified person as of any date, the Capital Stock of such person that is at
the time entitled to vote generally in the election of the board of directors of such person. 
 ARTICLE 2. 

TERMS AND CONDITIONS OF NOTES 
 Section 2.1. Designation and Principal Amount. 
 (a) There is
hereby authorized and established a series of Securities under the Indenture, designated as the “2.875% Notes due 2016,” which is initially limited in aggregate principal amount to $250,000,000 (except upon registration of transfer of, or
in exchange for, or in lieu of, other 2016 Notes pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and
delivered). 
 (b) There is hereby authorized and established a series of Securities under the Indenture, designated as the
“4.400% Notes due 2021,” which is initially limited in aggregate principal amount to $500,000,000 (except upon registration of transfer of, or in exchange for, or in lieu of, other 2021 Notes pursuant to Section 304, 305, 306, 906 or
1107 of the Indenture and except for any Securities which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered). 

  
 6 

 Section 2.2. Maturity. 

(a) The Stated Maturity of principal of the 2016 Notes shall be January 15, 2016. 

(b) The Stated Maturity of principal of the 2021 Notes shall be January 15, 2021. 

Section 2.3. Further Issues. The Company may at any time and from time to time, without the consent of the Holders of
any series of the Notes, issue additional notes of any series. Any such additional notes shall have the same ranking, interest rate, maturity date and other terms as the relevant series of the Notes. Any such additional notes of a series, together
with the Notes of the relevant series herein provided for, shall constitute a single series of Securities under the Indenture. 

Section 2.4. Payment. Principal of and interest on the Notes shall be payable in U.S. dollars in immediately available
funds at the office or agency of the Company maintained for such purpose in the Borough of Manhattan, New York, which shall initially be at an office of the Trustee located at 45 Broadway, New York, New York 10006, Attention: Corporate Trust
Services, Administrator – C. R. Bard, Inc.; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as shall appear in the Security Register at the close
of business on the Regular Record Date for such Holder or by wire transfer to an account specified in writing by the Holder to the Company and the Trustee; and provided, further, that the Company will pay principal of and interest on,
the Notes in global form registered in the name of or held by The Depository Trust Company (“DTC”) or such other Depositary as any Officer of the Company may from time to time designate, or its respective nominee, by wire in
immediately available funds to such Depositary or its nominee, as the case may be, as the registered holder of such notes in global form. 
 Section 2.5. Global Securities. Upon the original issuance, the Notes shall be represented by Global Securities registered in the name of Cede & Co., the nominee of DTC. The
Company shall deposit the Global Securities with DTC or its custodian and register the Global Securities in the name of Cede & Co. 
 Section 2.6. Interest. 
 (a) The 2016 Notes shall bear interest
(computed on the basis of a 360-day year consisting of twelve 30-day months) from December 20, 2010 at the rate of 2.875% per annum, payable semi-annually in arrears. Interest payable on each Interest Payment Date will include interest
accrued from December 20, 2010, or from the most recent Interest Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are January 15 and July 15,
commencing on July 15, 2011; and the Record Date for the interest payable on any Interest Payment Date is the close of business on January 1 or July 1, as the case may be, next preceding the relevant Interest Payment Date. 

  
 7 

 (b) The 2021 Notes shall bear interest (computed on the basis of a 360-day year consisting
of twelve 30-day months) from December 20, 2010 at the rate of 4.400% per annum, payable semi-annually in arrears. Interest payable on each Interest Payment Date will include interest accrued from December 20, 2010, or from the most
recent Interest Payment Date to which interest has been paid or duly provided for. The Interest Payment Dates on which such interest shall be payable are January 15 and July 15, commencing on July 15, 2011; and the Record Date for the
interest payable on any Interest Payment Date is the close of business on January 1 or July 1, as the case may be, next preceding the relevant Interest Payment Date. 
 Section 2.7. Authorized Denominations. The Notes shall be issuable in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

Section 2.8. Redemption and Sinking Fund. The Notes shall not be redeemable at the option of the Company except as
provided in Article 3 of this Supplemental Indenture. The Notes shall not be entitled to the benefit of any sinking fund. 

Section 2.9. Ranking. The Notes shall be senior unsecured debt securities of the Company, ranking equally with the
Company’s other unsecured and unsubordinated debt. 
 Section 2.10. Appointments. The Trustee shall be the
initial Security Registrar and initial Paying Agent for the Notes. 
 Section 2.11. Defeasance. The Company
may elect, at its option at any time, pursuant to Section 1301 of the Indenture, to have Section 1302 or Section 1303 in the Indenture, or both, apply to the 2016 Notes or the 2021 Notes, or all, or any principal amount thereof. The
additional defeasance and discharge provisions set forth in Article 5 shall be applicable to the Notes. 
 ARTICLE 3.

 REDEMPTION OF THE NOTES 
 Section 3.1. Optional Redemption by the Company. 
 (a) The 2016
Notes shall be redeemable as a whole or in part, at the Company’s option, at a redemption price equal to the greater of (i) 100% of the principal amount of the 2016 Notes to be redeemed and (ii) the sum, as determined by an
Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the 2016 Notes to be redeemed (excluding the portion of interest that will be accrued and unpaid to and including the date of
redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus accrued and unpaid interest on the 2016 Notes to be redeemed to the date
of redemption. 

  
 8 

 (b) Prior to October 15, 2020 (three months prior to their maturity date), in the case
of the 2021 Notes, the Notes shall be redeemable as a whole or in part, at the option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the 2021 Notes to be redeemed and (ii) the sum, as
determined by an Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the 2021 Notes to be redeemed (excluding the portion of interest that will be accrued and unpaid to and including
the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus accrued and unpaid interest on the 2021 Notes to be redeemed
to the date of redemption. 
 (c) At any time on or after October 15, 2020 (three months prior to their maturity date), the
2021 Notes shall be redeemable, in whole or in part at any time and from time to time, at the Company’s option at a redemption price equal to 100% of the principal amount of the 2021 Notes to be redeemed plus accrued interest thereon to the
date of redemption. 
 ARTICLE 4. 
 ADDITIONAL COVENANTS 
 Section 4.1. Limitations on
Liens. 
 So long as any of the Notes remain outstanding, the Company shall not, nor shall the Company permit any Subsidiary
to, create, incur, issue, assume or guarantee any Debt if such Debt is secured by a Lien upon any property that at the time of such issuance, assumption or guarantee constitutes a Restricted Property or on the capital stock of any Subsidiary or Debt
incurred by any Subsidiary and owed to the Company or another Subsidiary, without, in any such case, effectively providing that, for so long as such lien shall continue in existence with respect to such secured Debt, the Notes shall be secured
equally and ratably by such Lien with such secured Debt; provided, however, that this restriction will not apply to: 

(a) Liens securing Debt existing on the date of the indenture or Liens existing on property, capital stock, assets or Debt of any Person
at the time it becomes a Subsidiary; 
 (b) Liens securing Debt of a Subsidiary owed to the Company or another Subsidiary;

 (c) Liens on any assets existing at the time the Company or a Subsidiary acquires such assets, or to secure the payment of
the purchase price for such assets, or to secure Debt incurred or guaranteed by the Company or a Subsidiary for the purpose of financing the purchase price of such assets (incurred or guaranteed prior to or within 360 days after such acquisition),
or, in the case of real property, construction or improvements thereon, provided that the Lien shall not apply to any assets theretofore owned by the Company or a Subsidiary other than in the case of any such construction or improvements, any real
property on which the construction or improvement is located; 

  
 9 

 (d) Liens existing on the property of any Person that at the time such Person becomes a
Subsidiary or is merged or consolidated with the Company or a Subsidiary or at the time such Person sells, leases or otherwise disposes of its property as an entirety or substantially as an entirety to the Company or a Subsidiary; 

(e) Liens in favor of the United States or any State thereof, or any department, agency or instrumentality or political subdivision of
the United States of America or any State thereof, or in favor of any other country or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract, statute, rule or regulation; 

(f) Liens securing obligations in respect of capital leases on assets subject to such leases; provided that such leases are otherwise
permitted under the covenant “— Limitations on Sale and Leaseback Transactions” set forth below; 
 (g) Liens
securing reimbursement obligations with respect to letters of credit arising by operation of law under Section 5-118(a) of the Uniform Commercial Code; 
 (h) Pledges, liens or deposits under workers’ compensation or similar legislation, and liens thereunder that are not currently dischargeable, or in connection with bids, tenders, contracts (other
than for the payment of money) or leases to which the Company or any Subsidiary is a party, or to secure the Company’s or any Subsidiary’s public or statutory obligations, or in connection with obtaining or maintaining self-insurance, or
to obtain the benefits of any law, regulation or arrangement pertaining to unemployment insurance, old age pensions, social security or similar matters, or to secure surety, performance, appeal or customs bonds to which the Company or any Subsidiary
is a party, or in litigation or other proceedings in connection with the matters heretofore referred to in this bullet point, such as interpleader proceedings, and other similar pledges, liens or deposits made or incurred in the ordinary course of
business; 
 (i) Liens created by or resulting from any litigation or other proceeding that is being contested in good faith by
appropriate proceedings, including liens arising out of judgments or awards against the Company or any Subsidiary with respect to which the Company or such Subsidiary in good faith is prosecuting an appeal or proceedings for review or for which the
time to make an appeal has not yet expired; or final unappealable judgment liens which are satisfied within 15 days of the date of judgment; or liens incurred by the Company or any Subsidiary for the purpose of obtaining a stay or discharge in the
course of any litigation or other proceeding to which the Company or such Subsidiary is a party; 
 (j) Liens for taxes or
assessments or governmental charges or levies not yet due or delinquent; or that can thereafter be paid without penalty, or that are being contested in good faith by appropriate proceedings; landlord’s liens on property held under lease; and
any other liens or charges incidental to the conduct of the business of the Company or any Subsidiary’s business, or the ownership of their respective assets, that were not incurred in connection with the borrowing of money or the obtaining of
advances or credit and that, in the opinion of the Company’s board of directors, do not materially impair the use of such assets in the operation of the Company or such Subsidiary’s business or the value of such Restricted Property for the
purposes of such business; and 

  
 10 

 (k) Any extension, renewal or replacement (or successive extensions, renewals or
replacements), in whole or in part, of any permitted Lien referred to in clauses (1) through (10) above, inclusive of any Lien existing at the date of the indenture; provided, however, that the obligation secured by such new Lien
shall not extend beyond the property subject to the existing Lien and is not greater in amount than the obligations secured by the Lien extended, renewed or replaced (plus an amount in respect of reasonable financing fees and related transaction
costs). 
 The Company and any Subsidiary may, without securing the Notes, create, incur, issue, assume or guarantee secured
Debt which would otherwise be subject to the foregoing restrictions, if after giving effect to such Debt, the aggregate amount of such secured Debt then outstanding (not including secured Debt permitted under the foregoing exceptions
(a) through (k)) plus the aggregate amount of Attributable Debt outstanding of Sale and Leaseback Transactions that would otherwise be prohibited by the covenant described under “— Limitations on Sale and Leaseback Transactions”
below, does not exceed 15% of Consolidated Net Tangible Assets as stated on the Company’s most recent publicly available consolidated balance sheet preceding the date of determination. 

Section 4.2. Limitations on Sale and Leaseback Transactions. 

The Company shall not, and shall not permit any Subsidiary to, enter into any Sale and Leaseback Transaction. Notwithstanding the
foregoing, the Company or any Subsidiary may enter into a Sale and Leaseback Transaction if: 
 (a) The Sale and Leaseback
Transaction is between the Company and a Subsidiary or between Subsidiaries; 
 (b) The Company or such Subsidiary would, at the
time of entering into such Sale and Leaseback Transaction, be entitled pursuant to the covenant described under “—Limitations on Liens” above, to incur Debt secured by a Lien on such Restricted Property involved in a principal amount
at least equal to the Attributable Debt of such transaction without equally and ratably securing the Notes; or 
 (c) The
Company or any of its Subsidiaries, during the six months following the effective date of the Sale and Leaseback Transaction, apply an amount equal to the greater of the net proceeds of such sale or transfer or the fair value of the Restricted
Property that the Company or its Subsidiary lease in the transaction to the voluntary retirement of the Notes or other Debt of ours or that of any Subsidiary, provided that such Debt (i) ranks pari passu or senior to the Notes
under the indenture and (ii) has a stated maturity which is either more than 12 months from the date of such application or which is extendable or renewable at the option of the obligor thereon to a date more than 12 months from the date of
such application; provided further that there shall be credited to the amount of net proceeds required to be applied pursuant to this clause (3) an amount equal to the sum of (x) the principal amount of Notes delivered within six months of
the effective date of such Sale and Leaseback Transaction to the trustee for retirement and cancellation and (y) the principal amount of other Debt of the Company’s voluntarily retired by the Company within such six-month period, excluding
retirements of Notes and other Debt of the Company’s as a result of conversions or pursuant to mandatory sinking fund or mandatory prepayment provisions. 

  
 11 

 The Attributable Debt of the Company and its Subsidiaries in respect of such Sale and
Leaseback Transaction and all other Sale and Leaseback Transactions (other than Sale and Leaseback Transactions as are permitted under the foregoing exceptions (a) through (c)), plus the aggregate principal amount of Debt secured by Liens on
Restricted Property then outstanding that otherwise would be prohibited by the covenant described under “—Limitations on Liens” above, would not exceed 15% of Consolidated Net Tangible Assets as stated on the Company’s most
recent publicly available consolidated balance sheet preceding the date of determination. 
 Section 4.3. Change
of Control Triggering Event. 
 (a) If a Change of Control Triggering Event occurs, unless the Company has exercised its
option to redeem the Notes pursuant to Section 3.1 hereof, each Holder of the Notes shall have the right to require the Company to purchase all or a portion (equal to $1,000 and any integral multiples of $1,000 in excess thereof) of such
Holder’s Notes pursuant to the offer described below (a “Change of Control Offer”) at a purchase price equal to 101% of the aggregate principal amount of the Notes repurchased, plus accrued and unpaid interest, if any, to the
date of repurchase (the “Change of Control Payment”), subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date. 

(b) The Company shall be required to send a notice to each Holder of the Notes by first class mail, with a copy to the trustee, within 30
days following the date upon which any Change of Control Triggering Event occurred, or at the Company’s option, prior to any Change of Control but after the public announcement of the pending Change of Control. The notice will govern the terms
of the Change of Control Offer and shall specify, without limitation, the following: 
 (i) that the Change of
Control Offer is being made pursuant to this Section 4.3 of this Supplemental Indenture; 
 (ii) that the
Company is required to offer to purchase all of the outstanding principal amount of Notes, the purchase price and, that on the date specified in such notice, which date shall be no earlier than 30 days and no later than 60 days from the
date such notice is mailed, other than as may be required by law (the “Change of Control Payment Date”), the Company shall repurchase the Notes validly tendered and not validly withdrawn pursuant to this Section 4.3;

 (iii) if mailed prior to the date of consummation of the Change of Control, shall state that the Change of
Control Offer is conditioned on the Change of Control Triggering Event being consummated on or prior to the Change of Control Payment Date; 
 (iv) that any Note not tendered or accepted for payment shall continue to accrue interest; 

  
 12 

 (v) that, unless the Company defaults in making such payment, Notes accepted
for payment pursuant to the Change of Control Offer shall cease to accrue interest after the Change of Control Payment Date; 
 (vi) that Holders electing to have a Note purchased pursuant to a Change of Control Offer may elect to have all or any portion of such Note purchased; 

(vii) that Holders of Notes electing to have Notes purchased pursuant to a Change of Control Offer shall be required to
surrender their Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note, or such other customary documents of surrender and transfer as the Company may reasonably request, duly completed, or transfer
the Note by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the Change of Control Payment Date; 
 (viii) that Holders shall be entitled to withdraw their election if the Company, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Change of Control
Offer, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Notes the Holder delivered for purchase and a statement that such Holder is withdrawing its election to have such Notes purchased;

 (ix) that Holders whose Notes are purchased only in part shall be issued new Securities equal in principal
amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer); 
 (x) the
CUSIP numbers for the Notes; and 
 (xi) the other instructions, as determined by the Company, consistent with
this Section 3.3, that a Holder must follow. 
 (c) On the Change of Control Payment Date, the Company will, to the
extent lawful: 
 (i) accept for payment all properly tendered notes or portions of notes not validly withdrawn; 

(ii) deposit with the paying agent the required payment for all properly tendered Notes or portions of Notes not validly withdrawn; and

 (iii) deliver or cause to be delivered to the trustee the repurchased Notes, accompanied by an officers’ certificate
stating, among other things, the aggregate principal amount of repurchased Notes. 
 (d) The Company shall not be required
to make a Change of Control Offer with respect to the Notes upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the

  
 13 

 
requirements in this Section 4.3 for such an offer made by the Company and the third party purchases all such Notes properly tendered and not withdrawn under its offer. In connection with
any Change of Control Offer, the Company shall deliver an Officer’s Certificate and Opinion of Counsel stating that any conditions precedent in connection with such offer hereunder or under the Indenture have been satisfied. 

(e) The Company shall not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of
Default under the Indenture. 
 (f) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and any
other securities laws and regulations thereunder, to the extent those laws and regulations are applicable, in connection with the repurchase of Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such
securities laws or regulations conflict with the Change of Control Offer provisions of the Notes, the Company will comply with those securities laws and regulations and will not be deemed to have breached the Company’s obligations under the
Change of Control Offer provisions of the Notes by virtue of any such conflict. 
 ARTICLE 5. 

SATISFACTION AND DISCHARGE 
 Section 5.1. Defeasance and Discharge of Obligations. 
 With
respect to a redemption of all of the 2016 Notes or all of the 2021 Notes pursuant to Section 3.1 hereof, notwithstanding the provisions of Section 1304 of the Base Indenture, for purposes of determining whether the Company has satisfied
the condition set forth in clause (1) thereof, the amount of funds or U.S. Government Obligations that the Company must irrevocably deposit or cause to be deposited in trust with the Trustee shall be determined by the Company using an assumed
Redemption Price calculated as of the date of deposit of such funds or U.S. Government Obligations in trust (and not, for the avoidance of doubt, the Redemption Date); provided that: 

(a) at the time of deposit of such funds or U.S. Government Obligations in trust, the funds or U.S. Government Obligations
in trust must be sufficient, as evidenced by a certificate of a reputable firm of certified independent accountants, investment bank or appraisal firm, to pay and discharge the principal, premium, if any, and accrued and unpaid interest on the Notes
on the Redemption Date with an assumed Redemption Price calculated as of the date of deposit of such funds or U.S. Government Obligations in trust; and 
 (b) the Company must irrevocably deposit or cause to be deposited additional funds or U.S. Government Obligations in trust, as necessary, on the Redemption Date, as required by Section 3.1 hereof,
necessary to pay the Redemption Price as determined on such date. 

  
 14 

 ARTICLE 6. 
 FORM OF NOTES 
 Section 6.1. Form of Notes. The Notes
and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the forms set forth in Exhibits A, and B hereto. 
 ARTICLE 7. 
 ORIGINAL ISSUE OF NOTES 

Section 7.1. Original Issue of Notes. The Notes may, upon execution of this Supplemental Indenture, be executed by the
Company and delivered to the Trustee for authentication, and the Trustee shall, upon Company Order, authenticate and deliver such Notes as in such Company Order provided. 
 ARTICLE 8. 
 MISCELLANEOUS 

Section 8.1. Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all
respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided, however, that the provisions of this Supplemental Indenture
shall apply solely with respect to the Notes. 
 Section 8.2. Trustee Not Responsible for Recitals. The
recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture.

 Section 8.3. Governing Law. This Supplemental Indenture and each Note shall be governed by, and construed
in accordance with, the laws of the State of New York. 
 Section 8.4. Separability. In case any one or more
of the provisions contained in the Indenture, this Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provisions of the Indenture, this Supplemental Indenture or the Notes, but the Indenture, this Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or
therein. 
 Section 8.5. Counterparts. This 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. 
 [Signature page follows] 

  
 15 

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

					
	 C. R. BARD, INC.

		
	By:	 	 /s/ Todd C. Schermerhorn

		 	Name:	 	Todd C. Schermerhorn
		 	Title:	 	Senior Vice President and Chief Financial Officer

  
 [FIRST
SUPPLEMENTAL INDENTURE] 

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

			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Trustee
		
	By:	 	 /s/ Martin Reed

		 	Name:  Martin Reed
		 	Title:    Vice President

  
 [FIRST
SUPPLEMENTAL INDENTURE] 

 EXHIBIT A 
 [FORM OF NOTE] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE 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 LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 C.R. BARD, INC. 
 2.875% Notes due 2016 
 CUSIP No.: 
 ISIN: 
  

			
	 No. A-[    ]
	 	$[        ]

 C. R. BARD, INC., a corporation duly incorporated under the laws of the State of New Jersey (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) on January 15, 2016, and to pay interest thereon from December 20, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for,
semi-annually on January 15 and July 15 of 

  
 A-1

 
each year, commencing on [    ] at the rate of 2.875% per annum, until the principal hereof is paid or made available for payment; provided that any principal and
premium, and any such installment of interest, which is overdue shall bear interest at the rate of 2.875% per annum (to the extent permitted by applicable law), from the dates such amounts are due until they are paid or made available for
payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the January 1 or July 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment
Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is
registered at the close of business on a “Special Record Date” for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes 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 Notes of this series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in the Indenture. 
 Reference is hereby made to the further provisions of this Note set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as 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 Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

  
 A-2

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed as of the date
first written above. 
  

			
	 C. R. BARD, INC.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 A-3

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: December 20, 2010 

 

			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A-4

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be
issued in one or more series under an Indenture, dated as of December 20, 2010, and a supplemental indenture relating to such series dated as of December 20, 2010 (herein, collectively called the “Indenture,” which term
shall have the meaning assigned to it in such instrument), between the Company and Wells Fargo Bank, National Association, 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 Notes are, and
are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $ [        ]; provided that the
Company may at any time and from time to time, without the consent of any Holder, issue additional Notes of this series. All terms used in this Note that are not defined in the Indenture shall have the meaning assigned to them in the Indenture.

 The Notes shall be redeemable as a whole or in part, at the Company’s option, at a redemption price equal to the greater
of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum, as determined by an Independent Investment Banker, of the present values of the remaining scheduled payments of principal and interest on the Notes to be
redeemed (excluding the portion of interest that will be accrued and unpaid to and including the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate plus 15 basis points, plus accrued and unpaid interest on the Notes to be redeemed to the date of redemption. 
 The Notes
of this series are not entitled to the benefit of any sinking fund. 
 The Indenture contains provisions for defeasance at any
time of the entire indebtedness of the Notes of this series or certain restrictive covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of such Notes may be declared,
or shall immediately become, 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 Notes 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 aggregate principal amount of the Notes 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 Notes of each series at the time Outstanding, on behalf of the Holders of all Notes 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 Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any Note 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 Note. 

  
 A-5

 As provided in and subject to the provisions of the Indenture, the Holders of the Notes of
this series 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 Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in aggregate principal amount of such Notes
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 Note for the enforcement of any payment of principal 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 Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the
Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note 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 Notes 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 Notes of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to
certain limitations therein set forth, Notes of this series are exchangeable for a like principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Note 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 A-6

 This Note is a Global Security and is subject to the provisions of the Indenture relating to
Global Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. 

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

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

  
 A-7

 EXHIBIT B 
 [FORM OF NOTE] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE 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 LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 C.R. BARD, INC. 
 4.400% Notes due 2021 
 CUSIP No.: 
 ISIN: 
  

			
	 No. A-[    ]
	 	$[            ]

 C.R. BARD, INC., a corporation duly incorporated under the laws of the State of New Jersey (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)
on January 15, 2021, and to pay interest thereon from December 20, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on January 15 and July 15 of each year,
commencing on [    ] at the rate of 4.400% per annum, until the principal hereof is 

  
 B-1

 
paid or made available for payment; provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the rate of 4.400% per annum
(to the extent permitted by applicable law), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be
the January 1 or July 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a “Special Record Date” for the payment of such Defaulted Interest to
be fixed by the Trustee, notice whereof shall be given to Holders of Notes 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 Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as 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 Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 B-2

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed as of the date
first written above. 
  

			
	C. R. BARD, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-3

 This Note is one of the Securities of the series designated therein referred to in the
within-mentioned Indenture. 
 Dated: December 20, 2010 

 

			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 B-4

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be
issued in one or more series under an Indenture, dated as of December 20, 2010, and a supplemental indenture relating to such series dated as of December 20, 2010 (herein, collectively called the “Indenture,” which term
shall have the meaning assigned to it in such instrument), between the Company and Wells Fargo Bank, National Association, 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 Notes are, and
are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, such series initially limited in aggregate principal amount to $[        ]; provided that the
Company may at any time and from time to time, without the consent of any Holder, issue additional Notes of this series. 

Prior to October 15, 2020 (three months prior to their maturity date), the Notes shall be redeemable as a whole or in part, at the
option of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum, as determined by an Independent Investment Banker, of the present values of the remaining
scheduled payments of principal and interest on the Notes to be redeemed (excluding the portion of interest that will be accrued and unpaid to and including the date of redemption) discounted to the redemption date on a semiannual basis (assuming a
360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus accrued and unpaid interest on the Notes to be redeemed to the date of redemption. 

At any time on or after October 15, 2020 (three months prior to their maturity date), the Notes shall be redeemable, in whole or in
part at any time and from time to time, at the Company’s option at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued interest thereon to the date of redemption. 

The Notes of this series are not entitled to the benefit of any sinking fund. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of the Notes of this series or certain
restrictive covenants and Events of Default with respect to such Notes, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of such Notes may be declared, or shall immediately become, 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 Notes 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 aggregate principal amount of the Notes 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 Notes of each
series at the time Outstanding, on behalf of the Holders of all Notes 

  
 B-5

 
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
Holders of Notes of this series shall be conclusive and binding upon such Holders and upon all future Holders of this Note and of any Note 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 Note. 
 As provided in and subject to the provisions of the Indenture, the
Holders of the Notes of this series 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 Notes of this series, the Holders of not less than 25% in aggregate principal amount of the Notes of this series at the time Outstanding shall have made written request
to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in aggregate principal
amount of such Notes 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 Note for the enforcement of any payment of principal 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 Note or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the
Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note 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 Notes 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 Notes of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to
certain limitations therein set forth, Notes of this series are exchangeable for a like principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Note 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 Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither
the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

  
 B-6

 This Note is a Global Security and is subject to the provisions of the Indenture relating to
Global Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. 

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

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

  
 B-7Moody's Corporation Change in Control Severance Plan

 Exhibit 10.1 
 MOODY’S CORPORATION 
 CHANGE IN CONTROL SEVERANCE PLAN

 ARTICLE 1 
 NAME, PURPOSE AND EFFECTIVE DATE 
 1.1. Name and Purpose of Plan. The name
of the Plan is the Moody’s Corporation Change in Control Severance Plan (the “Plan”). The purpose of the Plan is to provide compensation and benefits to certain executive officers and key employees of Moody’s Corporation upon
certain change in control events of Moody’s Corporation. 
 1.2. Effective Date. The effective date of the Plan is
December 14, 2010 (the “Effective Date”). The compensation and benefits payable under the Plan are payable upon Change in Control events that occur after the effective date of the Plan. 

1.3. ERISA Status. The Plan is intended to be an unfunded plan that is maintained primarily to provide severance compensation and
benefits to a select group of “management or highly compensated employees” within the meaning of Sections 201, 301, and 401 of ERISA, and therefore to be exempt from the provisions of Parts 2, 3, and 4 of Title I of ERISA. 

ARTICLE 2 

DEFINITIONS 

The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context:

 2.1. “Base Salary” means the annual base salary payable to an Eligible Individual at the time of a Change in
Control or a Termination Date, whichever is greater. 
 2.2. “Board” means the Board of Directors of Moody’s
Corporation. 
 2.3. “Cause” means (a) willful malfeasance or willful misconduct by the Eligible Individual in
connection with his or her employment, (b) continuing failure to perform such duties as are requested by any employee to whom the Eligible Individual reports or the Board, (c) failure by the Eligible Individual to observe material policies
of the Company applicable to the Eligible Individual or (d) the commission by an Eligible Individual of (i) any felony or (ii) any misdemeanor involving moral turpitude. 

2.4. “Change in Control” means the occurrence of a change in ownership of Moody’s Corporation, a change in the effective
control of Moody’s Corporation, or a change in the ownership of a substantial portion of the assets of Moody’s Corporation. For this purpose, a change in the ownership of Moody’s Corporation occurs on the date that any one person, or
more than one person acting as a group (as determined pursuant to the regulations under Section 409A), acquires ownership of stock of Moody’s Corporation that, together with stock held by such person or group, constitutes more than 50
percent of the total fair market value or total voting power of the stock of Moody’s Corporation. A change in effective control of Moody’s 

 
Corporation occurs on either of the following dates: (a) the date any one person, or more than one person acting as a group acquires (or has acquired during the 12-month period ending on the
date of the most recent acquisition by such person or persons) ownership of stock of Moody’s Corporation possessing 50 percent or more of the total voting power of the stock of Moody’s Corporation, or (b) the date a majority of
members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election. A change in the ownership of a
substantial portion of the assets of Moody’s Corporation occurs on the date that any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition
by such person or persons) assets from Moody’s Corporation that have a total gross fair market value (as determined pursuant to the regulations under Section 409A) equal to or more than 40 percent of the total gross fair market value of
all of the assets of Moody’s Corporation immediately before such acquisition or acquisitions. 
 2.5. “Code”
means the Internal Revenue Code of 1986, as amended. 
 2.6. “Committee” means the Governance and Compensation
Committee of the Board, or any successor thereto or other committee designated by the Board to assume the obligations of the Committee hereunder. 
 2.7. “Company” means Moody’s Corporation and its subsidiaries. 

2.8. “Disability” means the inability to engage in any substantial gainful activity by reason of a medically determinable
physical or mental impairment which constitutes a permanent and total disability, as defined in Section 22(e)(3) of the Code (or any successor section thereto). The determination whether an Eligible Individual has suffered a Disability shall be
made by the Committee based upon such evidence as it deems necessary and appropriate. An Eligible Individual shall not be considered disabled unless he or she furnishes such medical or other evidence of the existence of the Disability as the
Committee, in its sole discretion, may require. 
 2.9. “Eligible Individual” means an executive officers or other key
employees of Moody’s Corporation or any of its subsidiaries who has been designated by the Committee as eligible to participate in the Plan. 
 2.10. “Good Reason” means, without the Eligible Individual’s consent (a) a material reduction in the position or responsibilities of the Eligible Individual; (b) a reduction in
the Eligible Individual’s Base Salary; or (c) a relocation of the Eligible Individual’s primary work location to a distance of more than fifty (50) miles from its location as of the date of a Change in Control. 

2.11. “Involuntary Termination” means any termination of an Eligible Individual’s employment with the Company (or its
successor) (a) by the Company (or its successor) for any reason other than Cause or the Eligible Individual’s death or Disability or (ii) by the Eligible Individual with Good Reason. 

2.12. “Target Bonus” means an Eligible Individual’s target annual bonus under the 2004 Moody’s Corporation Covered
Employee Cash Incentive Plan or any similar or successor plan for the year in which the Change in Control occurs or the year in which a Termination Date occurs, whichever is greater. 

  
 2 

 2.13. “Termination Date” means (a) for purposes of termination for Good
Reason, the date that the Eligible Individual timely submits his or her written notice of resignation to the Company and (b) for purposes of any other Involuntary Termination, the date the Company delivers written notice of termination to the
Eligible Individual. 
 ARTICLE 3 
 ELIGIBILITY AND BENEFITS 
 3.1. Eligible Individuals. Executive officers of
the Company with the titles of Senior Vice President or above at the time of a Change in Control and any other individuals selected by the Committee for participation in the Plan are eligible for benefits under the Plan (the “Eligible
Individuals”). 
 3.2. Protection Period. The Company will provide the benefits described in this Article 3 to an
Eligible Individual whose employment with the Company terminates in an Involuntary Termination that occurs within the ninety-day period preceding or two-year period following a Change in Control (the “Protection Period”). 

3.3. Severance Benefits. In the event that an Eligible Individual’s employment with the Company is terminated as a result of
an Involuntary Termination during the Protection Period, the Eligible Individual shall be entitled to the following payments and benefits under the Plan (subject to the terms and conditions hereof, including Section 3.4, 3.5 and 3.6):

 (a) payment of any accrued, but unpaid Base Salary through the Termination Date, payable within five (5) days following
the Termination Date or sooner if required by applicable law; 
 (b) payment of any accrued, but unused vacation time, payable
within five (5) days following the Termination Date or sooner if required by applicable law; 
 (c) a lump sum equal to two
(2) times the sum of the Eligible Individual’s Base Salary and Target Bonus (except for the chief executive officer, who will receive three (3) times the sum of his Base Salary and Target Bonus), payable within thirty (30) days
following the Termination Date, 
 (d) for either two (2) years following the Eligible Individual’s last day of
employment (or three (3) years, for the chief executive officer), the Eligible Individual and his or her eligible dependents shall be entitled to continue to participate in any medical and dental insurance plans generally available to the
senior management of the Company, as such plans may be in effect from time to time on the terms generally applied to actively employed senior management of the Company, including any cost-sharing provisions, with such continued participation to
cease if the Eligible Individual becomes eligible to obtain coverage under medical and/or dental insurance plans of a subsequent employer; and 

  
 3 

 (e) any amount or benefit arising from the Eligible Individual’s participation in, or
benefits under, any employee benefit plans, programs or arrangements (including without limitation, the 2004 Moody’s Corporation Covered Employee Cash Incentive Plan, the 2001 Moody’s Corporation Key Employees’ Stock Incentive Plan
and/or award agreements issued thereunder), which amounts and benefits shall be payable in accordance with the terms and conditions of such employee benefit plans, programs or arrangements. 

3.4. Conditions to Severance Benefits. In order to be eligible to receive benefits under the Plan, the Eligible Individual must
execute a general waiver and release, which includes certain representations and covenants by the Eligible Individual, in a form provided by the Company, and such general waiver and release must become effective and irrevocable in accordance with
its terms prior to the payment of any benefits set forth in Section 3.3(c) or (d). The Company, in its sole discretion, may modify its form of the required general waiver and release contained to comply with applicable law and will determine
the form of the required waiver and general release. 
 3.5. Competition. Notwithstanding any other provision of the Plan
to the contrary, (i) no benefits or no further benefits, as the case may be, shall be provided to a Participant under Section 3.3(c) and/or Section 3.3(d), and (ii) a Participant will be obligated to repay to the Company, in
cash, within five business days after demand is made therefor by the Company, the total after-tax amount (as determined by the Committee) of any payments theretofore paid to the Participant under Section 3.3(c), if the Committee reasonably
determines that such Participant has, within two years following the Participant’s Termination Date: 
 (a) to the
detriment of the Company, directly or indirectly acquired, without the prior written consent of the Committee, an interest in any other corporation, firm, association, or organization (other than an investment interest of less than one percent
(1%) in a publicly-owned company or organization), the business of which is in direct competition with any business of the Company; or 
 (b) to the detriment of the Company, directly or indirectly competed with the Company as an owner, employee, partner, director or contractor of a business, in a field of business activity in which the
Participant has been primarily engaged on behalf of the Company or in which he has considerable knowledge as a result of his employment by the Company, either for his own benefit or with any person other than the Company, without the prior written
consent of the Committee. 
 3.6. Solicitation. Notwithstanding any other provision of the Plan to the contrary,
(i) no benefits or no further benefits, as the case may be, shall be provided to a Participant under Section 3.3(c) and/or Section 3.3(d), and (ii) a Participant will be obligated to repay to the Company, in cash, within five
business days after demand is made therefor by the Company, the total after-tax amount (as determined by the Committee) of any payments theretofore paid to the Participant under Section 3.3(c), if the Committee reasonably determines that such
Participant (or a company or entity the Participant controls or manages) has, within two years following the Participant’s Termination Date (A) recruited or solicited one or more customers of the Company to become customers of any business
entity which competes with any of the businesses owned or operated by the Company, (B) recruited or solicited or aided in the recruitment or solicitation of 

  
 4 

 
any employee of the Company to terminate his employment with the Company and become an employee of any business entity or (C) recruited or solicited or aided in the recruitment or
solicitation for employment any former employee of the Company who was an employee of the Company during the period starting one year prior to the date of a Participant’s termination of employment and ending one year after the date of the
Participant’s termination of employment. For purposes of this Section 3.6, the term “customer” means any party who is or was a customer of the Company during the time period beginning two years prior to the date of the
Participant’s termination of employment and ending two years after the date of the Participant’s termination of employment. 
 3.7. Enforcement. Each Participant agrees, as a condition to receipt of any benefits under this Plan, that the restrictions set forth in Sections 3.5 and 3.6 are reasonable in all respects and are
necessary for the protection of the goodwill, confidential information and other legitimate interests of the Company. In recognition of the fact that were a Participant to breach any of the covenants contained in Sections 3.5 and 3.6 the damage to
the Company would be irreparable, each Participant therefore agrees, as a condition to receipt of any benefits under this Plan, that the Company, in addition to any other remedies available to it under Sections 3.5 and/or 3.6, shall be entitled to
injunctive relief against any breach or threatened breach by a Participant of any of such covenants, without having to post bond. In the event that the provisions of Sections 3.5 and/or 3.6 shall be determined by any court of competent jurisdiction
to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, such provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by
law. 
 3.8. Tax Effect of Payments. 
 (a) In the event that any benefits payable to an Eligible Individual pursuant to the Plan (“Payments”) (i) constitute “parachute payments” within the meaning of Section 280G
of the Code, and (ii) but for this Section 3.8(a) would be subject to the excise tax imposed by Section 4999 of the Code, or any comparable successor provisions (the “Excise Tax”), then the Eligible Individual’s
Payments hereunder shall be either (x) provided to the Eligible Individual in full, or (y) provided to the Eligible Individual as to such lesser extent which would result in no portion of such benefits being subject to the Excise Tax,
whichever of the foregoing amounts, when taking into account applicable federal, state, local and foreign income and employment taxes, the Excise Tax, and any other applicable taxes, results in the receipt by the Eligible Individual, on an after-tax
basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under the Excise Tax. In the event that the payments and/or benefits are to be reduced pursuant to this Section 3.8(a), such
payments and benefits shall be reduced such that the reduction of compensation to be provided to the Eligible Individual as a result of this Section 3.8(a) is minimized. In applying this principle, the reduction shall be made in a manner
consistent with the requirements of Section 409A of the Code and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts shall be reduced on a pro rata basis but not below zero. Unless the
Company and the Eligible Individual otherwise agree in writing, any determination required under this Section 3.8(a) shall be made in writing in good faith by a nationally recognized accounting firm selected by the Company (the
“Accountants”). The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 3.8(a). 

  
 5 

 (b) Notwithstanding anything herein to the contrary, to the extent that the Committee
determines, in its sole discretion, that any payments or benefits to be provided hereunder to or for the benefit of an Eligible Individual who is also a “specified employee” (as such term is defined under Section 409A(a)(2)(B)(i) of
the Code or any successor or comparable provision) would be subject to the additional tax imposed under Section 409A(a)(1)(B) of the Code or any successor or comparable provision, the commencement of such payments and/or benefits shall be
delayed until the earlier of (i) the date that is six months following the Termination Date or (ii) the date of the Eligible Individual’s death. 
 ARTICLE 4 
 CLAIM FOR BENEFITS UNDER THE PLAN 

4.1. Claims for Benefits under the Plan. A condition precedent to receipt of severance benefits is the execution of an unaltered
release of claims in form and substance prescribed by the Company. If an Eligible Individual believes that an individual should have been eligible to participate in the Plan or disputes the amount of benefits under the Plan, such individual may
submit a claim for benefits in writing to the Committee within sixty 60 days after the individual’s termination of employment. If such claim for benefits is wholly or partially denied, the Committee shall within a reasonable period of time, but
no later than 90 days after receipt of the written claim, notify the individual of the denial of the claim. If an extension of time for processing the claim is required, the Committee may take up to an additional 90 days, provided that the Committee
sends the individual written notice of the extension before the expiration of the original 90-day period. The notice provided to the individual will describe why an extension is required and when a decision is expected to be made. If a claim is
wholly or partially denied, the denial notice: (1) shall be in writing, (2) shall be written in a manner calculated to be understood by the individual, and (3) shall contain (a) the reasons for the denial, including specific
reference to those plan provisions on which the denial is based; (b) a description of any additional information necessary to complete the claim and an explanation of why such information is necessary; (c) an explanation of the steps to be
taken to appeal the adverse determination; and (d) a statement of the individual’s right to bring a civil action under section 502(a) of ERISA following an adverse decision after appeal. The Committee shall have full discretion to deny or
grant a claim in whole or in part. If notice of denial of a claim is not furnished in accordance with this section, the claim shall be deemed denied and the claimant shall be permitted to exercise his rights to review pursuant to Section 9.02
and 9.03. 
 4.2. Right to Request Review of Benefit Denial. Within 60 days of the individual’s receipt of the
written notice of denial of the claim, the individual may file a written request for a review of the denial of the individual’s claim for benefits In connection with the individual’s appeal of the denial of his benefit, the individual may
submit comments, records, documents, or other information supporting the appeal, regardless of whether such information was considered in the prior benefits decision. Upon request and free of charge, the individual will be provided reasonable access
to and copies of all documents, records and other information relevant to the claim. 

  
 6 

 4.3. Disposition of Claim. The Committee shall deliver to the individual a written
decision on the claim promptly, but not later than 60 days after the receipt of the individual’s written request for review, except that if there are special circumstances which require an extension of time for processing, the 60-day period
shall be extended to 120 days; provided that the appeal reviewer sends written notice of the extension before the expiration of the original 60-day period. If the appeal is wholly or partially denied, the denial notice will: (1) be written in a
manner calculated to be understood by the individual, (2) contain references to the specific plan provision(s) upon which the decision was based; (3) contain a statement that, upon request and free of charge, the individual will be
provided reasonable access to and copies of all documents, records and other information relevant to the claim for benefits; and (4) contain a statement of the individual’s right to bring a civil action under section 502(a) of ERISA.

 4.4. Exhaustion. An individual must exhaust the Plan’s claims procedures prior to bringing any claim for benefits
under the Plan in a court of competent jurisdiction. 
 ARTICLE 5 

MISCELLANEOUS 

5.1. Administration. The Plan shall be administered by the Committee or such other persons designated by the Board. The Committee
shall have the authority to select the Eligible Individuals to be eligible for benefits under the Plan. The Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make
any other determinations that it deems necessary or desirable for the administration of the Plan; provided, however, that any action permitted to be taken by the Committee may be taken by the Board, in its discretion. The Committee may correct any
defect or omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or desirable. Any decision of the Committee in the interpretation and administration of the Plan, as described herein, shall
lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned. The Committee may delegate to one or more employees of the Company the authority to take actions on its behalf pursuant to the Plan.

 5.2. Termination; Amendments. The Plan shall have an initial term of two years, which shall be automatically extended
by one year beginning on the first anniversary of the Effective Date and on each anniversary thereafter, unless the Board or the Committee provides notice to all Eligible Individuals that the term will not be renewed beyond the then existing
expiration date. The Plan with respect to all Eligible Individuals or any particular Eligible Individual may be terminated or amended by the Board or the Committee; provided that a termination or any amendment that reduces the benefits to the
Eligible Individual provided hereunder or otherwise adversely affects the rights of the Eligible Individual, without the Eligible Individual’s prior written consent: (i) may only be approved after the completion of the initial two year
term and prior to a Change of Control, and (ii) may not be effected prior to the provision of twenty-four months’ advance notice thereof to the Eligible Individual. Termination or amendment of the Plan shall not affect any obligation of
the Company under the Plan which has accrued and is unpaid as of the effective date of the termination or amendment. 

  
 7 

 5.3. Successors. Any successor (whether direct or indirect and whether by purchase,
lease, merger, consolidation, liquidation or otherwise) to all or substantially all of Moody’s Corporation’s business and/or assets, or all or substantially all of the business and/or assets of a business segment of Moody’s
Corporation shall be obligated under the Plan in the same manner and to the same extent as Moody’s Corporation would be required to perform it in the absence of a succession. The Plan and all rights of the Eligible Individual hereunder shall
inure to the benefit of, and be enforceable by, the Eligible Individual’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

5.4. Creditor Status of Eligible Individuals. In the event that any Eligible Individual acquires a right to receive payments from
the Company under the Plan such right shall be no greater than the right of any unsecured general creditor of the Company. 

5.5. Notice of Address. Each Eligible Individual entitled to benefits under the Plan must file with the Company, in writing, his
post office address and each change of post office address. Any communication, statement or notice addressed to such Eligible Individual at such address shall be deemed sufficient for all purposes of the Plan, and there shall be no obligation on the
part of the Company to search for or to ascertain the location of such Eligible Individual. 
 5.6. Headings. The
headings of the Plan are inserted for convenience and reference only and shall have no effect upon the meaning of the provisions hereof. 
 5.7. Choice of Law. The Plan shall be construed, regulated and administered under the laws of the State of Delaware (excluding the choice-of-law rules thereto), except that if any such laws are
superseded by any applicable Federal law or statute, such Federal law or statute shall apply. 
 5.8. Withholding. All
payments under the Plan will be subject to all applicable withholding of state, local, provincial and federal taxes. 
 5.9.
No Implied Employment Contract. The Plan is not an employment contract. Nothing in the Plan or any other instrument executed pursuant to the Plan shall confer upon an Eligible Individual any right to continue in the Company’s employ or
service nor limit in any way the Company’s right to terminate an Eligible Individual’s employment at any time for any reason. 
 5.10. No Assignment. The rights of an Eligible Individual to payments or benefits under the Plan shall not be made subject to option or assignment, either by voluntary or involuntary assignment or
by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this section shall be void. 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}]]