Document:

Cracker Barrel Old Country Store, Inc. and Subsidiaries FY 2013

 Exhibit 10.2 
 CRACKER BARREL OLD COUNTRY STORE, INC. 
 AND 

SUBSIDIARIES 
 FY 2013 LONG-TERM INCENTIVE PROGRAM 
 ARTICLE I 
 General 

1.1        Establishment of the Plan.    Pursuant to the Cracker
Barrel Old Country Store, Inc. 2010 Omnibus Stock and Incentive Plan (the “Omnibus Plan”), the Compensation Committee (the “Committee”) of the Board of Directors of Cracker Barrel Old Country Store, Inc. (the “Company”)
hereby establishes this FY 2013 Long-Term Incentive Program (the “Program”). 

1.2        Purpose.    This Program consists of two forms of long-term
incentive awards: (a) a Long Term Performance Plan (“LTPP”) Award, and (b) a Market Stock Unit (“MSU”) Award. The purposes of the LTPP Awards are to reward officers of the Company and its subsidiaries for the
Company’s financial performance during fiscal years 2013 and 2014 and to retain them during this time; the purposes of the MSU Awards are to reward officers of the Company and its subsidiaries for the Company’s financial performance during
fiscal years 2013, 2014 and 2015 and to retain them during this time. The Program is also intended to attract and retain the best possible executive talent to the Company, to motivate officers to focus attention on long-term objectives and strategic
initiatives, and to further align their interests with those of the shareholders of the Company. 

1.3        Program Subject to Omnibus Plan.    This Program is
established pursuant to, and it comprises a part of the Omnibus Plan. Accordingly, all of the terms and conditions of the Omnibus Plan are incorporated in this Program by reference as if included verbatim. In case of a conflict between the terms and
conditions of the Program and the Omnibus Plan, the terms and conditions of the Omnibus Plan shall supersede and control the issue. 
 ARTICLE II 
 Definitions 

2.1        Omnibus Plan Definitions.    Capitalized terms used in this
Program without definition have the meanings ascribed to them in the Omnibus Plan, unless otherwise expressly provided. 

2.2        Other Definitions.    In addition to those terms defined in
the Omnibus Plan and elsewhere in this Program, whenever used in this Program, the following terms have the meanings set forth below: 
 (a)        “Cause,” in addition to those reasons specified in the Omnibus Plan, also includes unsatisfactory performance or staff reorganizations.

  
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 (b)        “Eligible LTPP Award” or
“Eligible MSU Award” means the maximum LTPP Award or MSU Award, as the case may be, to which a Participant is entitled if the Company achieves the applicable Performance Goal during the applicable Performance Period. The Committee shall
establish an Eligible LTPP Award and an Eligible MSU Award for each Participant within the first 90 days of the Performance Period. 
 (c)        “LTPP Award” means an Award granted as an “LTPP Award” hereunder that is denominated in either cash or Shares as determined by the
Committee. 
 (d)        “LTPP Performance Goal” means achievement of
aggregate Operating Income during the Performance Period applicable to LTPP Awards in an amount equal to or greater than the amount established by the Committee within the first 90 days of the Performance Period. 

(e)        “MSU Award” means an Award granted as an “MSU Award” hereunder
that is denominated in Shares. Each MSU is a notional unit of measurement having a value equivalent to one Share, subject to the terms hereof. The MSUs are unfunded, unsecured obligations of the Company. 

(f)        “MSU Performance Goal” means achievement of aggregate Operating Income
during the Performance Period applicable to MSU Awards in an amount equal to or greater than the amount established by the Committee within the first 90 days of the Performance Period. 

(g)        “Operating Income” means, total operating income during the fiscal years of
the applicable Performance Period, as calculated consistent with past practice and presented in the audited financial statements, subject to adjustment as follows: excluding (i) extraordinary gains or losses and the effects of any sale of
assets (other than in the ordinary course of business), (ii) the effects of any changes in accounting principles, (iii) the effects of any charges or expenses related to extraordinary, non-operational charges or expenses relating to
stockholder demands, inquiries or events and related governance and other responses, (iv) the effects of charges or expenses related to the Company’s organizational restructuring, and (v) the effects of charges or expenses related to
severance events. 
 (h)        “Performance Period” with respect to LTPP
Awards hereunder means the Company’s 2013 and 2014 fiscal years, and with respect to MSU Awards hereunder means the Company’s 2013, 2014 and 2015 fiscal years. 
 (i)        “Performance Shares” means an LTPP Award that is denominated in Shares. 

(j)        “Retirement” (or the correlative “Retire” or “Retires”)
means the voluntary termination of employment by a Participant in good standing under this Program at a time when the Participant meets the definition of Retirement Eligible. 

  
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 (k)        “Retirement Eligible” means
that a Participant: 
 1.    shall have achieved the age of 60 and 

2.    has five (5) or more years of service with the Company, its predecessors or subsidiaries and 

3.    provides at least 60 days notice prior to the intended retirement date. 

(l)        “Return on Invested Capital” means the quotient of the following, as
calculated consistent with past practice and presented in the audited financial statements: (i) the average of Operating Income for each year of the Performance Period plus the average of rent paid during each year of the Performance Period,
divided by (ii) the average end of year balances for the 2012, 2013 and 2014 fiscal years of the sum of the following balance sheet items: inventory, net property held for sale, net property, plant & equipment and capitalized leases
reduced by accounts payable. 
 (m)        “Target LTPP Award” or “Target
MSU Award” means the target LTPP Award or MSU Award, as the case may be, to which a Participant is entitled if the Company achieves the applicable target performance determined by the Committee with respect to the applicable Performance Period.

 (n)        “Total Shareholder Return” means the change in the price of a
Share (comparing the beginning Share price to the ending Share price), plus dividends paid, during the Performance Period applicable to MSU Awards. The beginning Share price shall be determined by averaging the closing Share prices during the 60
calendar day period (30 days prior to and 30 days after) around the first business day of the Company’s 2013 fiscal year. The ending Share price shall be determined by averaging the closing Share prices during the 60 calendar day period (30
days prior to and 30 days after) around the last business day of the Company’s 2015 fiscal year. 
 ARTICLE III

 LTPP Awards 
 3.1        Eligibility.    Participants eligible to receive an LTPP Award shall be those persons designated by the Committee during the
first 90 days of the Performance Period or new hires or those persons who may be promoted and are designated as Participants by the Committee at the time of hiring or promotion. No new Participants are eligible after the second fiscal quarter of the
Company’s 2014 fiscal year. The Company will provide each Participant with an Award Notice, substantially in the form of Exhibit A attached hereto, setting forth such Participant’s Target LTPP Award. 

3.2        Award Eligibility.    If the LTPP Performance Goal is
achieved, each Participant shall be eligible to receive his or her Eligible LTPP Award. The actual number of Performance Shares or amount of cash earned by a Participant pursuant to his or her LTPP Award shall be determined by multiplying the Target
LTPP Award by a multiplier established by the Committee, which multiplier shall be determined based on the Company’s achievement of Return on Invested Capital during the Performance Period. The actual number of Performance Shares or amount of
cash to be awarded to a 

  
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Participant hereunder may range from 0% to 200% of the Participant’s Target LTPP Award. The number of Performance Shares (or amount of cash) settled (or paid) pursuant to the LTPP Award of
any Covered Employee shall not exceed either his or her Eligible LTPP Award or any limits prescribed by the Omnibus Plan, including the Limitations set forth therein. In applying such Limitations, compensation payable pursuant to any annual bonus
plan of the Company shall be considered prior to any payments of LTPP Awards, and any compensation payable pursuant to LTPP Awards shall be considered prior to any compensation payable pursuant to MSU Awards. 

3.3        Threshold Vesting.    As a condition precedent to any
portion of the LTPP Award vesting, the LTPP Performance Goal adopted by the Committee must be achieved and the Committee must certify to such achievement pursuant to Section 10.3 of the Omnibus Plan within 60 days following the end of the
applicable Performance Period. No LTPP Award shall be paid to any Covered Employee if the LTPP Performance Goal is not achieved. 
 3.4        Settlement.    Any LTPP Award made by the Committee shall be settled or paid promptly following certification by the Committee
of the LTPP Performance Goal as provided in Section 3.3. 

3.5        Restrictions.    Subject to Article V, notwithstanding that
the LTPP Performance Goal to which the Eligible LTPP Award is subject hereunder may be satisfied by or prior to the end of the applicable Performance Period, the Shares (or cash) with respect thereto shall not vest or otherwise become payable to a
Participant, nor shall a Participant have any of the rights of a shareholder of the Company with respect to any Performance Shares, until the end of the Performance Period to which the LTPP Award relates. 

ARTICLE IV 

MSU Awards 

4.1        Eligibility.    Participants eligible to receive an MSU
Award shall be those persons designated by the Committee during the first 90 days of the Performance Period or new hires or those persons who may be promoted and are designated as Participants by the Committee at the time of hiring or promotion. No
new Participants are eligible after the second fiscal quarter of the Company’s 2015 fiscal year. The Company will provide each Participant with an Award Notice, substantially in the form of Exhibit B attached hereto, setting forth such
Participant’s Target MSU Award. 
 4.2        Award
Eligibility.    If the MSU Performance Goal is achieved, each Participant shall be eligible to receive his or her Eligible MSU Award. The actual number of MSUs earned by a Participant pursuant to his or her MSU Award shall be
determined by multiplying the Target MSU Award by a multiplier established by the Committee, which multiplier shall be determined based on the percentage change in Total Shareholder Return during the Performance Period applicable to MSU Awards. The
actual number of MSUs awarded to a Participant hereunder may range from 0% to 150% 

  
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of the Participant’s Target MSU Award. The MSUs earned by any Covered Employee shall not exceed either his or her Eligible MSU Award or any limits prescribed by the Omnibus Plan including
the Limitations set forth therein; provided, that in applying such Limitations, compensation payable pursuant to any annual bonus plan of the Company shall be considered prior to any payments of LTPP Awards, and any compensation payable pursuant to
LTPP Awards shall be considered prior to any compensation payable pursuant to MSU Awards. 

4.3        Threshold Vesting.    As a condition precedent to any
portion of the MSU Award vesting, the MSU Performance Goal adopted by the Committee must be achieved and the Committee must certify to such achievement pursuant to Section 10.3 of the Omnibus Plan within 60 days following the end of the
Performance Period. No MSU Award shall be paid to any Covered Employee if the MSU Performance Goal is not achieved. 

4.4        Settlement.    Settlement of vested MSUs shall be made in
Shares promptly following the date of certification of achievement of the MSU Performance Goal by the Committee. 

4.5        Restrictions.    Subject to Article V, notwithstanding that
the MSU Performance Goal to which the Eligible MSU Award is subject hereunder may be satisfied by or prior to the end of the Performance Period, no MSUs shall vest or otherwise become payable to a Participant prior to the expiration of the
Performance Period. 
 ARTICLE V 
 Vesting Requirements 

5.1        Service Requirements.    In addition to the performance
vesting requirements set forth in this Program, but subject to the remaining provisions of this Article V, the right of any Participant to receive settlement or payment of an Award granted hereunder shall become vested only if he or she remains
continuously employed by the Company or an Affiliate from the grant date of the Award until the end of the applicable Performance Period. Subject to Sections 5.2 to 5.5 hereof, if the service vesting requirements of this Section 5.1 are not
satisfied, all of the Shares or cash subject to Awards granted hereunder shall be immediately forfeited and the Participant’s rights with respect thereto shall cease. 
 5.2        Accelerated Vesting During the Performance Period.    If, prior to the end of the Performance Period, a Participant’s
employment is terminated because of death, disability or Retirement, any LTPP Award and MSU Award of such Participant shall be reduced pro rata to reflect only employment prior to that termination. The reduced LTPP Award and MSU Award shall be based
upon the number of calendar months of employment from the beginning of the applicable Performance Period (or, if later, the date of the Participant’s hire) until the date of such termination. In the case of a

  
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Participant’s disability, the employment termination shall be deemed to have occurred on the date the Committee determines that the disability has occurred, pursuant to the Company’s
then-effective group long-term disability insurance benefit for officers. The LTPP Award and MSU Award shall otherwise be determined and settled or paid on the same schedules set forth in Section 3.4 or Section 4.4, as the case may be,
including being conditioned upon the achievement of the applicable Performance Goals. 

5.3        Termination Following Performance Period.    If a
Participant ceases to be employed by the Company (or any Affiliate) for any reason other than for Cause following the close of the applicable Performance Period, the Participant shall be entitled to payment or settlement of his or her LTPP Award and
MSU Award at the time and on the basis specified in Section 3.4 or Section 4.4, as the case may be. 

5.4        Termination of Employment For Cause.    If, prior to the
date on which an LTPP Award or MSU Award is finally paid or settled, a Participant’s employment is terminated for Cause, all of the Participant’s rights to any Awards hereunder shall be forfeited. 

5.5        Effect of Change in Control. 

(a)        LTPP Awards.    In the event of a Change in Control prior
to the end of the Performance Period applicable to the LTPP Awards, (i) the LTPP Performance Goal shall be deemed to have been met if the Company’s 2013 Operating Income through the end of the fiscal month preceding the Change in Control
equals or exceeds 50% of the Company’s operating income for the comparable period in the 2012 fiscal year, and (ii) any LTPP Award earned by reason of Section 5.5(a) shall be immediately payable in cash to Participants upon the date
of the Change of Control. 
 (b)        MSU Awards.    In
the event of a Change in Control prior to the end of the Performance Period applicable to the MSU Awards, the Committee shall have the discretion (i) to continue the Performance Period following the Change in Control; provided, that in the
event a Participant’s employment with the Company (or its Affiliate or successor) is terminated without Cause within 24 months following the Change in Control, the Participant shall be treated as if the Participant had remained employed
throughout the entire Performance Period for purpose of determining the vesting of the Participant’s MSU Award, or (ii) end the Performance Period as of the date of the Change in Control and settle the MSU Awards either at the Target MSU
Awards or to such other extent as the Committee determines in its discretion the applicable performance criteria have been met, if at all. 
 ARTICLE VI 
 Recoupment Policy 

6.1        General Recoupment Policy.    The Company may recover any
incentive compensation awarded or paid pursuant to this Program based on (i) achievement of financial results that were subsequently the subject of a restatement due to material 

  
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noncompliance with any financial reporting requirement under either GAAP or the federal securities laws, other than as a result of changes to accounting rules and regulations, or (ii) a
subsequent finding that the financial information or performance metrics used by the Committee to determine the amount of the incentive compensation were materially inaccurate, in each case regardless of individual fault. In addition, the Company
may recover any incentive compensation awarded or paid pursuant to this Program based on a Participant’s conduct which is not in good faith and which materially disrupts, damages, impairs or interferes with the business of the Company and its
affiliates. The provisions of this Article VI shall apply to any incentive compensation earned or paid to a Participant pursuant to this Program, including compensation paid in Shares. Subsequent changes in status, including retirement or
termination of employment, do not affect the Company’s rights to recover compensation under this policy. 

6.2        Administration of Policy.    The Committee will administer
this policy and exercise its discretion and business judgment in the fair application of this policy based on the facts and circumstances as it deems relevant in its sole discretion. More specifically, the Committee shall determine in its discretion
any appropriate amounts to recoup, the officers from whom such amounts shall be recouped (which need not be all officers who received the bonus compensation at issue) and the timing and form of recoupment; provided, that only compensation paid or
settled within three years prior to the Committee taking action under this Article VI shall be subject to recoupment; provided further, that any recoupment pursuant to clause (i) or (ii) of the first sentence of this paragraph shall not
exceed the portion of any applicable bonus paid hereunder that is in excess of the amount of performance-based or incentive compensation that would have been paid or granted based on the actual, restated financial statements or actual level of the
applicable financial or performance metrics as determined by the Committee in its sole discretion. 

6.3        Setoff.    For avoidance of doubt, the Company may set off
the amounts of any such required recoupment against any amounts otherwise owed by the Company to a Participant as determined by the Committee in its sole discretion, solely to the extent any such offset complies with the requirements of
Section 409A of the Code and the guidance issued thereunder. 
 6.4        Other
Adjustments.    If any restatement of the Company’s financial results indicates that the Company should have made higher performance-based payments than those actually made under the Program for a period affected by the
restatement, then the Committee shall have discretion, but not the obligation to cause the Company to make appropriate incremental payments to affected Participants then-currently employed by the Company. The Committee will determine, in its sole
discretion, the amount, form and timing of any such incremental payments, which shall be no more than the difference between the amount of performance-based compensation that was paid or awarded and the amount that would have been paid or granted
based on the actual, restated financial statements. 

  
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 ARTICLE VII 
 Miscellaneous 

7.1        Restrictions on Transfer.    No Award covered hereby may be
sold, assigned, transferred, encumbered, hypothecated or pledged by a Participant except as provided in the Omnibus Plan or this Program. 
 7.2        Effect of Employment Agreement.    If a Participant is employed pursuant to an employment agreement with the Company (or an
Affiliate), any provisions thereof relating to the effect of a termination of the Participant’s employment upon his or her rights with respect to the Awards covered hereby, including, without limitation, any provisions regarding acceleration of
vesting and/or payment of the Awards in the event of termination of employment, shall be fully applicable and supersede any provisions hereof with respect to the same subject matter. 

7.3        No Right of Employment.    Nothing in this Program shall
confer upon any Participant any right to continue as an employee of the Company or an Affiliate or interfere in any way with the right of the Company or an Affiliate to terminate a Participant’s employment at any time or to change the terms and
conditions of such employment. 
 7.4        Governing
Law.    This Program and the Awards issued hereunder shall be construed and enforced in accordance with the laws of the State of Tennessee, without giving effect to the choice of law principles thereof. 

7.5        Section 409A. 

(a)        Notwithstanding the other provisions hereof, the Awards issued hereunder are intended
to comply with or be exempt from the requirements of Section 409A of the Code, to the extent applicable, and this Program shall be interpreted to avoid any penalty sanctions under Section 409A of the Code. Accordingly, all provisions
herein, or incorporated by reference, shall be construed and interpreted to comply with Section 409A of the Code and, if necessary, any such provision shall be deemed amended to comply with Section 409A of the Code and regulations
thereunder. If any payment cannot be provided or made at the time specified herein without incurring sanctions under Section 409A of the Code, then such payment shall be provided in full at the earliest time thereafter when such sanctions will
not be imposed. Except to the extent permitted under Section 409A of the Code, in no event may a Participant, directly or indirectly, designate the calendar year of any payment under this Award. 

(b)        Notwithstanding any provision to the contrary in this Program and to the extent that
Section 409A of the Code (including Section 409A(a)(2)(b) of the Code) is applicable to this Program, if on the date of a Participant’s termination of employment, he or she is a “specified employee” (as such term is defined
in Section 409A(a)(2)(B)(i) of the Code and its corresponding regulations) as determined by the Board (or its delegate) in accordance with its “specified employee” determination policy,

  
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then the amount of an Award that constitutes deferred compensation subject to the requirements of Section 409A of the Code that are payable within the six (6) month period following
such Participant’s separation from service shall be postponed for a period of six (6) months following the “separation from service” with the Company (or any successor thereto). Any payments delayed pursuant to this
Section 7.5(b) will be made in a lump sum on the Company’s first regularly scheduled payroll date that follows such six (6) month period or, if earlier, the date of the Participant’s death. 

(c)        Notwithstanding any other provision to the contrary, a termination of employment
shall not be deemed to have occurred for purposes of any provision of this Program providing for the payment of “deferred compensation” (within the meaning of Section 409A of the Code) upon or following a termination of employment
unless such termination is also a “separation from service” from the Company within the meaning of Section 409A of the Code and Section 1.409A-1(h) of the Treasury Regulations and, for purposes of any such provision of this
Program, references to a “separation,” “termination,” “termination of employment” or like terms shall mean “separation from service.” 
 (d)        For the avoidance of doubt, any payment due pursuant to this Program within a period following an applicable payment event, shall be made on a date
during such period as determined by the Company in it’s sole discretion. 

  
 - 9 -Form of Officer's Certificate

 Exhibit 4.1 
 [FORM OF OFFICER’S CERTIFICATE] 
 NBCUNIVERSAL MEDIA, LLC 

Officer’s Certificate 
 October 5, 2012 
 Pursuant to Section 2.01, Section 2.03 and
Section 7.01 of the Indenture dated as of April 30, 2010 (the “Indenture”) between NBCUniversal Media, LLC (the “Issuer,” which term includes any successor company under the Indenture) and The Bank of New
York Mellon, as Trustee (the “Trustee”), the undersigned officer does hereby certify, in connection with the issuance of (i) $1,000,000,000 aggregate principal amount of 2.875% Senior Notes due 2023 (the “2023
Notes”) and (ii) $1,000,000,000 aggregate principal amount of 4.450% Senior Notes due 2043 (the “2043 Notes” and, together with the 2023 Notes, the “Notes”), that the terms of the Notes are as follows:

 Capitalized terms used but not otherwise defined herein shall have the meanings specified in the Indenture. 

2023 Notes 
  

	 Title:  
	2.875% Senior Notes due 2023 

  

	 Issuer: 
	NBCUniversal Media, LLC 

  

	 Trustee, Paying Agent and Registrar: 
	The Bank of New York Mellon 

  

	 Aggregate Principal Amount at Maturity: 
	$1,000,000,000 

  

	 Issue Price: 
	99.817% 

  

	 Maturity Date: 
	January 15, 2023 

  

	 Interest Rate:  
	2.875% per annum 

  

	 Date from which Interest will Accrue: 
	October 5, 2012 

  

	 Interest Payment Dates: 
	January 15 and July 15 of each year, commencing on January 15, 2013 

  

	 Optional Redemption: 
	 The Issuer may at its option redeem the 2023 Notes in whole 

  
 1 

	 	 
or in part, at any time or from time to time, prior to their maturity, on at least 30 days’, but not more than 60 days’, prior notice mailed to the registered address of each holder of
2023 Notes to be redeemed, at a redemption price, calculated by the Issuer, equal to the greater of: 

  

	 	(i) 100% of the principal amount of the 2023 Notes being redeemed; and 

  

	 	(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued
as of 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 (as defined in the 2023 Notes) plus 20 basis points, 

 

	 	plus, in each case, accrued interest thereon to the date of redemption. Notwithstanding the foregoing, installments of interest on 2023 Notes that are due and payable
on Interest Payment Dates falling on or prior to a redemption date for the 2023 Notes will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant record date according to the 2023 Notes and the
Indenture. 

  

	 	The Issuer agrees to give the Trustee prompt written notice of the foregoing redemption price promptly after the calculation thereof and the Trustee shall have no
responsibility for such calculation. 

  

	 Conversion: 
	None 

  

	 Sinking Fund: 
	None 

  

	 Information: 
	The Issuer shall provide such information to the Trustee and registered holders of the 2023 Notes as set forth in paragraph 9 of the form of 2023 Notes attached hereto as Exhibit
A. 

  

	 Miscellaneous: 
	The terms of the 2023 Notes shall include such other terms as are set forth in the form of 2023 Notes attached hereto as Exhibit A, which form is hereby approved, and in the
Indenture. 

  
 2 

 2043 Notes 
  

	 Title: 
	4.450% Senior Notes due 2043 

  

	 Issuer:  
	NBCUniversal Media, LLC 

  

	 Trustee, Paying Agent and Registrar:  
	The Bank of New York Mellon 

  

	 Aggregate Principal Amount at Maturity:  
	$1,000,000,000 

  

	 Issue Price: 
	99.659% 

  

	 Maturity Date: 
	January 15, 2043 

  

	 Interest Rate:  
	4.450% per annum 

  

	 Date from which Interest will Accrue: 
	October 5, 2012 

  

	 Interest Payment Dates: 
	January 15 and July 15 of each year, commencing on January 15, 2013 

  

	 Optional Redemption: 
	The Issuer may at its option redeem the 2043 Notes in whole or in part, at any time or from time to time, prior to their maturity, on at least 30 days’, but not more than 60
days’, prior notice mailed to the registered address of each holder of 2043 Notes to be redeemed, at a redemption price, calculated by the Issuer, equal to the greater of: 

 

	 	(i) 100% of the principal amount of the 2043 Notes being redeemed; and 

  

	 	(ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued
as of 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 (as defined in the 2043 Notes) plus 25 basis points, 

 

	 	 plus, in each case, accrued interest thereon to the date of redemption. Notwithstanding the foregoing, installments of interest on 2043 Notes that are due and
payable on Interest 

  
 3 

	 	 
Payment Dates falling on or prior to a redemption date for the 2043 Notes will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant record
date according to the 2043 Notes and the Indenture. 

  

	 	The Issuer agrees to give the Trustee prompt written notice of the foregoing redemption price promptly after the calculation thereof and the Trustee shall have no
responsibility for such calculation. 

  

	 Conversion:  
	None 

  

	 Sinking Fund: 
	None 

  

	 Information:  
	The Issuer shall provide such information to the Trustee and registered holders of the 2043 Notes as set forth in paragraph 9 of the form of 2043 Notes attached hereto as Exhibit
B. 

  

	 Miscellaneous: 
	The terms of the 2043 Notes shall include such other terms as are set forth in the form of 2043 Notes attached hereto as Exhibit B, which form is hereby approved, and in the
Indenture. 

 Pursuant to Section 7.01 of the Indenture, Section 3.09 of the Indenture is hereby amended
to change the definition of “GAAP” as follows: 
 “GAAP” means generally accepted accounting
principles in the United States of America as in effect as of the date of determination, including, without limitation, those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified
Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession. All ratios and computations
contained in the Indenture shall be computed in conformity with GAAP applied on a consistent basis. 
 Subject to the
representations, warranties and covenants described in the Indenture, as amended or supplemented from time to time, the Issuer shall be entitled, subject to authorization by the Board of Directors of the Issuer and delivery of an Officer’s
Certificate pursuant to Sections 2.01 and 2.03 of the Indenture, to issue additional Notes from time to time under each series of Notes issued hereby. Any such additional Notes of a series shall have identical terms as the 2023 Notes or 2043 Notes,
as the case may be, issued on the issue date, other than with respect to the date of issuance and the issue price and, if applicable, the 

  
 4 

 
initial interest accrual date and the initial Interest Payment Date (together the “Additional Notes”). Any Additional Notes will be issued in accordance with Section 2.03 of
the Indenture. 
 Such officer has read and understands the provisions of the Indenture and the definitions relating thereto.
The statements made in this Officer’s Certificate are based upon the examination of the provisions of the Indenture and upon the relevant books and records of the Issuer. In such officer’s opinion, such officer has made such examination or
investigation as is necessary to enable such officer to express an informed opinion as to whether or not the covenants and conditions of such Indenture relating to the issuance and authentication of the Notes have been complied with. In such
officer’s opinion, such covenants and conditions have been complied with. 

  
 5 

 IN WITNESS WHEREOF, the undersigned officer of the Issuer has duly executed this certificate
as of the date first set forth above. 
  

			
	NBCUNIVERSAL MEDIA, LLC
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT A 

[FORM OF NOTES DUE 2023] 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SECURITY 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 A BENEFICIAL INTEREST HEREIN.

 TRANSFERS OF THIS SECURITY ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, 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 TRANSFER RESTRICTIONS SET FORTH IN THE INDENTURE. 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

 NBCUNIVERSAL MEDIA, LLC 

2.875% Notes due 2023 
 No.
[    ] 
 CUSIP No.: 63946B AH3 
 ISIN No.: US63946BAH33 

$[            ] 

NBCUNIVERSAL MEDIA, LLC, a Delaware limited liability company (the “Issuer,” which term includes any successor company
under the Indenture referred to on the reverse hereof), for value received, promises to pay to CEDE & CO. or registered assigns, the principal amount of [            ] UNITED
STATES DOLLARS (or such other principal amount as shall be set forth on the Schedule of Exchanges of Notes annexed hereto) on January 15, 2023. 
 Interest Payment Dates: January 15 and July 15 (each, an “Interest Payment Date”), commencing on January 15, 2013. 

Interest Record Dates: January 1 and July 1 (whether or not a Business Day) (each, an “Interest Record Date”).

 Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect
as if set forth at this place. 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by
its duly authorized officer. 
 Dated: October 5, 2012 

 

			
	NBCUNIVERSAL MEDIA, LLC
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Securities of the series designated herein and referred to in the
within-mentioned Indenture. 
 Dated: October 5, 2012 

 

			
	 THE BANK OF NEW YORK MELLON,
     as Trustee

		
	By:	 	  

		 	Authorized Signatory

 (REVERSE OF NOTE) 
 NBCUNIVERSAL MEDIA, LLC 
 2.875% Notes due 2023 

 

	 	1.	Interest. 

 The Issuer promises
to pay interest on the principal amount of this Note at the rate per annum set forth above. Interest on the Notes will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly
provided for, from October 5, 2012. The Issuer will pay interest semiannually in arrears on each Interest Payment Date, commencing January 15, 2013 to the Persons in whose names the Notes are registered at the close of business on the
preceding January 1 or July 1 (whether or not a Business Day), as the case may be. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months in a manner consistent with Rule 11620(b) of the FINRA Uniform
Practice Code. 
 The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Notes
and at the same rate on overdue installments of interest (without regard to any applicable grace periods) to the extent lawful. 
  

	 	2.	Paying Agent. 

 Initially, The
Bank of New York Mellon (the “Trustee”) will act as paying agent. The Issuer may change any paying agent without notice to the Holders. 
  

	 	3.	Indenture; Defined Terms. 

 This
Note is one of the 2.875% Notes due 2023 (the “Notes”) issued under an indenture dated as of April 30, 2010 (the “Base Indenture”) between the Issuer and the Trustee, and established pursuant to an
Officer’s Certificate dated October 5, 2012, (the “Officer’s Certificate”), issued pursuant to Section 2.01 and Section 2.03 thereof (together, the “Indenture”). This Note is a
“Security” and the Notes are “Securities” under the Base Indenture. 
 For purposes of this Note, unless
otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
Sections 77aaa-77bbbb) (the “TIA”) as in effect on the date on which the Indenture was qualified under the TIA. 

  
 R-1

 
Notwithstanding anything to the contrary herein, the Notes are subject to all such terms, and Holders of Notes are referred to the Indenture and the TIA for a statement of them. To the extent the
terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern. 
  

	 	4.	Denominations; Transfer; Exchange. 

 The Notes are in registered form, without coupons, in denominations of $2,000 and multiples of $1,000 thereafter. A Holder shall register the transfer or exchange of Notes in accordance with the
Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the
Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Notes or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register the transfer or
exchange of any Note selected for redemption, except the portion thereof not so to be redeemed. 
  

	 	5.	Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Notes and the provisions of the Indenture relating to the Notes may be amended or supplemented and any
existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of all series (including the Notes)
under the Indenture that are affected by such amendment, supplement or waiver (voting together as a single class). Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other
things, cure any ambiguity, omission, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not adversely affect the rights
of any Holder of a Note in any material respect. 
  

	 	6.	Optional Redemption. 

 The Issuer
may at its option redeem any of the Notes in whole or in part, at any time or from time to time, prior to their maturity, on at least 30 days’, but not more than 60 days’, prior notice mailed to the registered address of each Holder of
Notes to be redeemed (the “Redemption Date”), at a redemption price, calculated by the Issuer, equal to the greater of: 
 (i) 100% of the principal amount of the Notes to be redeemed; and 
 (ii) the sum
of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of 

  
 R-2

 
interest accrued as of the Redemption Date), discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined
below) plus 20 basis points, 
 plus, in each case, accrued interest thereon to the Redemption Date. 

Notwithstanding the foregoing, installments of interest on Notes that are due and payable on Interest Payment Dates falling on or prior
to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant record date according to the Notes and the Indenture. 

“Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury
Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (ii) if
the Independent Investment Banker obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Issuer. 
 “Reference Treasury Dealer” means each of (i) Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC or their
affiliates which are primary U.S. government securities dealers (a “Primary Treasury Dealer”), and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities
dealer, the Issuer will substitute therefor another Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotation” 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 (expressed 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 time on the third Business
Day preceding such Redemption Date. 

  
 R-3

 “Treasury Rate” means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. 
 Notice of any redemption will be distributed at least 30 days but not
more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed. Unless the Issuer defaults in payment of the redemption price, on and after the Redemption Date, interest will cease to accrue on the Notes or portions thereof
called for redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee by a method the Trustee deems to be fair and appropriate, provided that so long as the Notes are in the form of Global
Securities, such selection shall be made in accordance with the procedures of DTC. No Notes of a principal amount of $2,000 or less will be redeemed in part. 
  

	 	7.	Defaults and Remedies. 

 Article
4 (REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT) of the Base Indenture shall apply to
the Notes. 
  

	 	8.	Authentication. 

 This Note shall
not be entitled to any benefit under the Indenture or be valid until the Trustee manually signs the certificate of authentication on this Note. 
  

	 	9.	Information 

 To the extent the
Issuer is not subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act (the “Reporting Requirements”) or does not otherwise report on an annual and quarterly basis on forms provided for such annual and
quarterly reporting pursuant to rules and regulations promulgated by the Commission, the Issuer will be required to make available to the Trustee and the Holders, without cost to any Holder, within 90 days following its fiscal year end and within 45
days following its first, second and third fiscal quarter ends, the annual and quarterly financial statements that would be required to be filed with the Commission on Forms 10-K and 10-Q (were the Issuer subject to the Reporting Requirements) along
with a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (“MD&A”) and, with respect to annual financial statements, a report thereon by an independent registered public
accounting firm, in each case in a manner that complies in all material respects with the requirements specified in such form for such financial statements and MD&A. The Issuer will not be required to provide such information if the Notes are
guaranteed by a person subject to the Reporting Requirements and the Issuer would have been exempt from the Reporting Requirements pursuant to Rule 12h-5 of the Exchange Act. 

  
 R-4

 If the Issuer has electronically filed with the Commission’s Next-Generation EDGAR
system (or any successor system), the reports described above, the Issuer shall be deemed to have satisfied the foregoing requirements. 
 In the event the Notes are unconditionally guaranteed in full by a person subject to the Reporting Requirements, the foregoing requirements will be deemed satisfied by such guarantor filing any document
or report that such guarantor is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act. 

Delivery of the reports, information and documents required by this paragraph 9 to be delivered to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein. 

 

	 	10.	Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT
(= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	11.	CUSIP Numbers. 

 Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN numbers in notices of redemption, as a convenience to
the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers printed hereon.

  

	 	12.	Governing Law. 

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

  
 R-5

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this Note to

 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint                     agent to transfer this Note on the books of the Issuer. The
agent may substitute another to act for him. 
  
  

Date:
                                 Your Signature:
                                         
                                    

 
  
 Sign exactly as your name appears on the other side of this Note. 
 A. In connection with any
transfer of any of the Notes evidenced by this certificate, the undersigned represents that from the date of this certificate through and including the date on which the undersigned disposes of such Notes or any interest therein that either:

 CHECK ONE BOX BELOW 
  

					
	 (1)    
	  		  	  ̈      no portion of the assets used to acquire
or hold the Notes evidenced by this certificate (or any interest therein) constitutes assets of any employee benefit plan subject to Title I of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any plan,
account or other arrangement subject to Section 4975 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such
provisions of ERISA or the Code (collectively “Similar Laws”), or any entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement within the meaning of ERISA and the Code;
or

					
	 (2)    
	  		  	  ̈      the acquisition and holding of the Notes
evidenced by this certificate (and any interest therein) will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a similar violation under any applicable Similar Law.

 Unless one of the boxes in A above is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any person other than the registered holder thereof. 
  

					
		 		 	  

		 		 	Signature
	Signature Guarantee:	 		 	
			
	              
	 		 	  

	Signature must be guaranteed	 		 	Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in
addition to, or in substitution for, STAMP, all in accordance with the United States Securities Exchange Act of 1934, as amended. 

 SCHEDULE OF EXCHANGES OF NOTES 

The following exchanges of a part of this Global Note for Definitive Notes or a part of another Global Note have been made: 

 

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

 EXHIBIT B 

[FORM OF NOTES DUE 2043] 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY SECURITY 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 A BENEFICIAL INTEREST HEREIN.

 TRANSFERS OF THIS SECURITY ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, 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 TRANSFER RESTRICTIONS SET FORTH IN THE INDENTURE. 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

 NBCUNIVERSAL MEDIA, LLC 

4.450% Notes due 2043 

No. [    ] 

CUSIP No.: 63946B AJ9 

ISIN No.: US63946BAJ98 
 $[            ] 

NBCUNIVERSAL MEDIA, LLC, a Delaware limited liability company (the “Issuer,” which term includes any successor company
under the Indenture referred to on the reverse hereof), for value received, promises to pay to CEDE & CO. or registered assigns, the principal amount of [            ] UNITED
STATES DOLLARS (or such other principal amount as shall be set forth on the Schedule of Exchanges of Notes annexed hereto) on January 15, 2043. 
 Interest Payment Dates: January 15 and July 15 (each, an “Interest Payment Date”), commencing on January 15, 2013. 

Interest Record Dates: January 1 and July 1 (whether or not a Business Day) (each, an “Interest Record Date”).

 Reference is made to the further provisions of this Note contained herein, which will for all purposes have the same effect
as if set forth at this place. 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by
its duly authorized officer. 
 Dated: October 5, 2012 

 

			
	NBCUNIVERSAL MEDIA, LLC
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Securities of the series designated herein and referred to in the
within-mentioned Indenture. 
 Dated: October 5, 2012 

 

			
	 THE BANK OF NEW YORK MELLON,

    as Trustee

		 	
	 By:
	 	              

		 	 Authorized Signatory

 (REVERSE OF NOTE) 
 NBCUNIVERSAL MEDIA, LLC 
 4.450% Notes due 2043 

 

	 	1.	Interest. 

 The Issuer promises
to pay interest on the principal amount of this Note at the rate per annum set forth above. Interest on the Notes will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly
provided for, from October 5, 2012. The Issuer will pay interest semiannually in arrears on each Interest Payment Date, commencing January 15, 2013 to the Persons in whose names the Notes are registered at the close of business on the
preceding January 1 or July 1 (whether or not a Business Day), as the case may be. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months in a manner consistent with Rule 11620(b) of the FINRA Uniform
Practice Code. 
 The Issuer shall pay interest on overdue principal from time to time on demand at the rate borne by the Notes
and at the same rate on overdue installments of interest (without regard to any applicable grace periods) to the extent lawful. 
  

	 	2.	Paying Agent. 

 Initially, The
Bank of New York Mellon (the “Trustee”) will act as paying agent. The Issuer may change any paying agent without notice to the Holders. 
  

	 	3.	Indenture; Defined Terms. 

 This
Note is one of the 4.450% Notes due 2043 (the “Notes”) issued under an indenture dated as of April 30, 2010 (the “Base Indenture”) between the Issuer and the Trustee, and established pursuant to an
Officer’s Certificate dated October 5, 2012, (the “Officer’s Certificate”), issued pursuant to Section 2.01 and Section 2.03 thereof (together, the “Indenture”). This Note is a
“Security” and the Notes are “Securities” under the Base Indenture. 
 For purposes of this Note, unless
otherwise defined herein, capitalized terms herein are used as defined in the Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
Sections 77aaa-77bbbb) (the “TIA”) as in effect on the date on which the Indenture was qualified under the TIA. 

  
 R-1

 
Notwithstanding anything to the contrary herein, the Notes are subject to all such terms, and Holders of Notes are referred to the Indenture and the TIA for a statement of them. To the extent the
terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern. 
  

	 	4.	Denominations; Transfer; Exchange. 

 The Notes are in registered form, without coupons, in denominations of $2,000 and multiples of $1,000 thereafter. A Holder shall register the transfer or exchange of Notes in accordance with the
Indenture. The Issuer may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay certain transfer taxes or similar governmental charges payable in connection therewith as permitted by the
Indenture. The Issuer need not issue, authenticate, register the transfer of or exchange any Notes or portions thereof for a period of fifteen (15) days before the mailing of a notice of redemption, nor need the Issuer register the transfer or
exchange of any Note selected for redemption, except the portion thereof not so to be redeemed. 
  

	 	5.	Amendment; Supplement; Waiver. 

Subject to certain exceptions, the Notes and the provisions of the Indenture relating to the Notes may be amended or supplemented and any
existing default or Event of Default or compliance with certain provisions may be waived with the written consent of the Holders of at least a majority in aggregate principal amount of the Outstanding Securities of all series (including the Notes)
under the Indenture that are affected by such amendment, supplement or waiver (voting together as a single class). Without notice to or consent of any Holder, the parties thereto may amend or supplement the Indenture and the Notes to, among other
things, cure any ambiguity, omission, defect or inconsistency or comply with any requirements of the Commission in connection with the qualification of the Indenture under the TIA, or make any other change that does not adversely affect the rights
of any Holder of a Note in any material respect. 
  

	 	6.	Optional Redemption. 

 The Issuer
may at its option redeem any of the Notes in whole or in part, at any time or from time to time, prior to their maturity, on at least 30 days’, but not more than 60 days’, prior notice mailed to the registered address of each Holder of
Notes to be redeemed (the “Redemption Date”), at a redemption price, calculated by the Issuer, equal to the greater of: 
 (i) 100% of the principal amount of the Notes to be redeemed; and 
 (ii) the sum
of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of 

  
 R-2

 
interest accrued as of the Redemption Date), discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined
below) plus 25 basis points, 
 plus, in each case, accrued interest thereon to the Redemption Date. 

Notwithstanding the foregoing, installments of interest on Notes that are due and payable on Interest Payment Dates falling on or prior
to a Redemption Date will be payable on the Interest Payment Date to the registered Holders as of the close of business on the relevant record date according to the Notes and the Indenture. 

“Comparable Treasury Issue” means the United States Treasury security or securities selected by an Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the remaining term of such Notes. 
 “Comparable Treasury
Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations or (ii) if
the Independent Investment Banker obtains fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Issuer. 
 “Reference Treasury Dealer” means each of (i) Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC or their
affiliates which are primary U.S. government securities dealers (a “Primary Treasury Dealer”), and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. government securities
dealer, the Issuer will substitute therefor another Primary Treasury Dealer and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotation” 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 (expressed 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 time on the third Business
Day preceding such Redemption Date. 

  
 R-3

 “Treasury Rate” means, with respect to any Redemption Date, the rate per
annum equal to the semiannual equivalent yield to maturity or interpolated (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. 
 Notice of any redemption will be distributed at least 30 days but not
more than 60 days before the Redemption Date to each Holder of the Notes to be redeemed. Unless the Issuer defaults in payment of the redemption price, on and after the Redemption Date, interest will cease to accrue on the Notes or portions thereof
called for redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee by a method the Trustee deems to be fair and appropriate, provided that so long as the Notes are in the form of Global
Securities, such selection shall be made in accordance with the procedures of DTC. No Notes of a principal amount of $2,000 or less will be redeemed in part. 
  

	 	7.	Defaults and Remedies. 

 Article
4 (REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT) of the Base Indenture shall apply to
the Notes. 
  

	 	8.	Authentication. 

 This Note shall
not be entitled to any benefit under the Indenture or be valid until the Trustee manually signs the certificate of authentication on this Note. 
  

	 	9.	Information 

 To the extent the
Issuer is not subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act (the “Reporting Requirements”) or does not otherwise report on an annual and quarterly basis on forms provided for such annual and
quarterly reporting pursuant to rules and regulations promulgated by the Commission, the Issuer will be required to make available to the Trustee and the Holders, without cost to any Holder, within 90 days following its fiscal year end and within 45
days following its first, second and third fiscal quarter ends, the annual and quarterly financial statements that would be required to be filed with the Commission on Forms 10-K and 10-Q (were the Issuer subject to the Reporting Requirements) along
with a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (“MD&A”) and, with respect to annual financial statements, a report thereon by an independent registered public
accounting firm, in each case in a manner that complies in all material respects with the requirements specified in such form for such financial statements and MD&A. The Issuer will not be required to provide such information if the Notes are
guaranteed by a person subject to the Reporting Requirements and the Issuer would have been exempt from the Reporting Requirements pursuant to Rule 12h-5 of the Exchange Act. 

  
 R-4

 If the Issuer has electronically filed with the Commission’s Next-Generation EDGAR
system (or any successor system), the reports described above, the Issuer shall be deemed to have satisfied the foregoing requirements. 
 In the event the Notes are unconditionally guaranteed in full by a person subject to the Reporting Requirements, the foregoing requirements will be deemed satisfied by such guarantor filing any document
or report that such guarantor is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act. 

Delivery of the reports, information and documents required by this paragraph 9 to be delivered to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein. 

 

	 	10.	Abbreviations and Defined Terms. 

Customary abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT
(= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 

	 	11.	CUSIP Numbers. 

 Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP and ISIN numbers in notices of redemption, as a convenience to
the Holders of the Notes. No representation is made as to the accuracy of such numbers as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers printed hereon.

  

	 	12.	Governing Law. 

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

  
 R-5

 ASSIGNMENT FORM 
 To assign this Note, fill in the form below: 
 I or we assign and transfer this Note to

 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably appoint                         agent to transfer this Note on the
books of the Issuer. The agent may substitute another to act for him. 
  

 
 Date:
                                         
    Your Signature:
                                         
                
  

 
 Sign exactly as your name appears on the other
side of this Note. 
 A. In connection with any transfer of any of the Notes evidenced by this certificate, the undersigned represents that from
the date of this certificate through and including the date on which the undersigned disposes of such Notes or any interest therein that either: 
 CHECK ONE BOX BELOW 
  

					
		  	(1)    	  	  ̈      no portion of the assets used to acquire
or hold the Notes evidenced by this certificate (or any interest therein) constitutes assets of any employee benefit plan subject to Title I of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any plan,
account or other arrangement subject to Section 4975 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such
provisions of ERISA or the Code (collectively “Similar Laws”), or any entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement within the meaning of ERISA and the Code;
or

					
	 (2)    
	  		  	  ̈      the acquisition and holding of the Notes
evidenced by this certificate (and any interest therein) will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a similar violation under any applicable Similar Law.

 Unless one of the boxes in A above is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any person other than the registered holder thereof. 
  

					
		 		 	  

	 	 	 	 	Signature
	Signature Guarantee:	 		 	
			
	  
	 		 	  

	Signature must be guaranteed	 		 	Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in
addition to, or in substitution for, STAMP, all in accordance with the United States Securities Exchange Act of 1934, as amended. 

 SCHEDULE OF EXCHANGES OF NOTES 

The following exchanges of a part of this Global Note for Definitive Notes or a part of another Global Note have been made: 

 

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

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