Document:

EX-4.1

 Exhibit 4.1 
 Execution Version 
  

 
  

BUCKEYE PARTNERS, L.P. 
 Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION 
 Trustee 
 EIGHTH SUPPLEMENTAL INDENTURE 

Dated as of June 10, 2013 
 To 
 INDENTURE 

Dated as of July 10, 2003 
 4.15% NOTES DUE 2023 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 Relation to Indenture; Definitions
	  	 	1	  
	 SECTION 1.01. Relation to Indenture
	  	 	1	  
	 SECTION 1.02. Definitions
	  	 	2	  
	 SECTION 1.03. General References
	  	 	2	  
		
	 ARTICLE 2 The Series of Securities
	  	 	2	  
	 SECTION 2.01. The Form and Title of the Securities
	  	 	2	  
	 SECTION 2.02. Amount
	  	 	2	  
	 SECTION 2.03. Stated Maturity
	  	 	2	  
	 SECTION 2.04. Interest and Interest Rates
	  	 	2	  
	 SECTION 2.05. Place of Payment
	  	 	3	  
	 SECTION 2.06. Optional Redemption
	  	 	3	  
	 SECTION 2.07. Defeasance and Discharge; Covenant Defeasance
	  	 	3	  
	 SECTION 2.08. Global Securities
	  	 	3	  
		
	 ARTICLE 3 Events of Default
	  	 	3	  
	 SECTION 3.01. Additional Event of Default
	  	 	3	  
		
	 ARTICLE 4 Covenants
	  	 	4	  
	 SECTION 4.01. Additional Covenant
	  	 	4	  
		
	 ARTICLE 5 Miscellaneous
	  	 	4	  
	 SECTION 5.01. Certain Trustee Matters
	  	 	4	  
	 SECTION 5.02. Continued Effect
	  	 	5	  
	 SECTION 5.03. Governing Law
	  	 	5	  
	 SECTION 5.04. Counterparts
	  	 	5	  
		
	 EXHIBITS
	  			
		
	 Exhibit A: Form of Note
	  			

 Eighth Supplemental Indenture 

 EIGHTH SUPPLEMENTAL INDENTURE, dated as of June 10, 2013 (this “Eighth
Supplemental Indenture”), between BUCKEYE PARTNERS, L.P., a Delaware limited partnership (the “Partnership”), having its principal office at 1 Greenway Plaza, Suite 600, Houston, Texas 77056,
and U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America (as successor-in-interest to SUNTRUST
BANK), as trustee under the Indenture referred to below (in such capacity, the “Trustee”). 

RECITALS OF THE PARTNERSHIP 
 WHEREAS, the Partnership and the Trustee have heretofore entered into an Indenture, dated as of July 10, 2003 (the “Original Indenture”), as amended and supplemented by the First
Supplemental Indenture thereto dated as of July 10, 2003 (the “First Supplemental Indenture”), the Second Supplemental Indenture thereto dated as of August 19, 2003 (the “Second Supplemental Indenture”),
the Third Supplemental Indenture thereto dated as of October 12, 2004 (the “Third Supplemental Indenture”). the Fourth Supplemental Indenture thereto dated as of June 30, 2005 (the “Fourth Supplemental
Indenture”), the Fifth Supplemental Indenture thereto dated as of January 11, 2008 (the “Fifth Supplemental Indenture”), the Sixth Supplemental Indenture thereto dated as of August 18, 2009 (the “Sixth
Supplemental Indenture”) and the Seventh Supplemental Indenture thereto dated as of January 13, 2011 (the “Seventh Supplemental Indenture”) (the Original Indenture, as supplemented from time to time, including without
limitation pursuant to the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture, the Seventh
Supplemental Indenture and this Eighth Supplemental Indenture, being referred to herein as the “Indenture”); and 
 WHEREAS, under the Original Indenture, a new series of Securities may at any time be established by the Board of Directors of Buckeye GP LLC, the Partnership’s general partner (the “General
Partner”), in accordance with the provisions of the Original Indenture, and the terms of such series may be established by a supplemental indenture executed by the General Partner on behalf of the Partnership and by the Trustee; and

 WHEREAS, the Partnership proposes to create under the Indenture a new series of Securities; and 

WHEREAS, all acts and things necessary to make the Notes (as herein defined), when executed by the General Partner on behalf of the
Partnership and authenticated and delivered by the Trustee as provided in the Original Indenture and this Eighth Supplemental Indenture, the valid and binding obligations of the Partnership and to make this Eighth Supplemental Indenture a valid and
binding agreement in accordance with the Original Indenture have been done or performed; 
 NOW, THEREFORE, in consideration of
the premises, agreements and obligations set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree, for the equal and proportionate benefit of all
Holders of the Notes, as follows: 
 ARTICLE 1 
 RELATION TO INDENTURE; DEFINITIONS 
 SECTION 1.01. Relation to Indenture. 
 With respect to
the Notes, this Eighth Supplemental Indenture constitutes an integral part of the Indenture. 
 Eighth Supplemental
Indenture 

 SECTION 1.02. Definitions. 

For all purposes of this Eighth Supplemental Indenture, capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned thereto in the Original Indenture. 
 SECTION 1.03. General References.

 All references in this Eighth Supplemental Indenture to Articles and Sections, unless otherwise specified, refer to the
corresponding Articles and Sections of this Eighth Supplemental Indenture; and the term “herein”, “hereof”, “hereunder” and any other word of similar import refers to this Eighth Supplemental
Indenture. 
 ARTICLE 2 
 THE SERIES OF SECURITIES 
 SECTION 2.01. The Form and Title of the Securities. 
 There is hereby established a new series of Securities to be issued under the Indenture and to be designated as the Partnership’s 4.15% Notes due 2023 (the “Notes”). The Notes shall
be substantially in the form attached as Exhibit A hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as the Partnership may deem appropriate or as may be required or appropriate to comply with any laws or with any rules made pursuant thereto or with the rules of any
securities exchange or automated quotation system on which the Notes may be listed or traded, or to conform to general usage, or as may, consistently with the Indenture, be determined by the officers executing such Notes, as evidenced by their
execution thereof. 
 The Notes shall be executed, authenticated and delivered in accordance with the provisions of, and shall
in all respects be subject to, the terms, conditions and covenants of the Original Indenture as supplemented by this Eighth Supplemental Indenture (including the form of Note set forth as Exhibit A hereto (the terms of which are
incorporated in and made a part of this Eighth Supplemental Indenture for all intents and purposes)). 
 SECTION 2.02.
Amount. 
 The aggregate principal amount of the Notes which may be authenticated and delivered pursuant
hereto is unlimited. The Trustee shall initially authenticate and deliver Notes for original issue in an initial aggregate principal amount of up to $500,000,000 upon delivery to the Trustee of a Partnership Order for the authentication and delivery
of such Notes. The aggregate principal amount of the Notes to be issued hereunder may be increased at any time hereafter and the series may be reopened for issuances of additional Notes, upon Partnership Order without the consent of any Holder. The
Notes issued on the date hereof and any such additional Notes that may be issued hereafter shall be part of the same series of Securities for all purposes under the Indenture. 
 SECTION 2.03. Stated Maturity. 
 The Notes may be
issued on any Business Day on or after June 10, 2013, and the Stated Maturity of the Notes shall be July 1, 2023. 

SECTION 2.04. Interest and Interest Rates. 

The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the Interest Payment
Dates on which any such interest shall be payable and the Regular Record Date for any interest payable on any Interest Payment Date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto. 

  

					
		  	2	  	Eighth Supplemental Indenture

 SECTION 2.05. Place of Payment. 

As long as any Notes are outstanding, the Partnership shall maintain an office or agency in the Borough of Manhattan, The City of New
York, where Notes may be presented for payment. 
 SECTION 2.06. Optional Redemption.

 At its option, the Partnership may redeem the Notes, in whole or in part, in principal amounts of $1,000 or any integral
multiple thereof, at any time or from time to time prior to the date that is three months prior to maturity, at the applicable redemption price determined as set forth in the form of Note attached hereto as Exhibit A, in accordance with the
terms set forth in the Notes and in accordance with Article XI of the Original Indenture. 
 At any time on or after the date
that is three months prior to maturity, the Partnership may redeem the Notes, in whole or from time to time in part, at its option, at a redemption price equal to one hundred percent (100%) of the principal amount of the Notes to be redeemed on
that redemption date plus accrued and unpaid interest thereon to, but excluding, the date of redemption. 

SECTION 2.07. Defeasance and Discharge; Covenant Defeasance. 

Article XIII of the Original Indenture shall apply to the Notes. 

SECTION 2.08. Global Securities. 

The Notes shall initially be issuable in whole or in part in the form of one or more Global Securities. Such Global Securities
(i) shall be deposited with, or on behalf of, the Depository Trust Company, New York, New York, which shall act as Depositary with respect to the Notes, (ii) shall bear the legends applicable to Global Securities set forth in Sections 2.02
and 2.04 of the Original Indenture, (iii) may be exchanged in whole or in part for Securities in definitive form upon the terms and subject to the conditions provided in Section 3.05 of the Original Indenture and in this Eighth
Supplemental Indenture and (iv) shall otherwise be subject to the applicable provisions of the Indenture. 
 ARTICLE 3

 EVENTS OF DEFAULT 

SECTION 3.01. Additional Event of Default. 

With respect to the Notes, the occurrence of any of the following events shall, in addition to the other events or circumstances described
as Events of Default in Section 5.01 of the Original Indenture, constitute an Event of Default: default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness
of the Partnership or any of its Subsidiaries (or the payment of which is guaranteed by the Partnership or any of its Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the date of issuance of any Notes, if
(a) that default (x) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of any grace period provided in such Indebtedness (a “Payment Default”), or
(y) results in the acceleration of the maturity of such Indebtedness to a date prior to its originally stated maturity, and, (b) in each case described in clauses (x) or (y) above, the principal amount of any such Indebtedness,
together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $50,000,000 or more. 

  

					
		  	3	  	Eighth Supplemental Indenture

 ARTICLE 4 
 COVENANTS 
 SECTION 4.01.
Additional Covenant. 
 The covenant contained in this Section 4.01 shall apply to the Notes only and not to any
other series of Securities issued under the Indenture, and is being included solely for the benefit of the Notes and the Holders thereof. This covenant shall be effective only for so long as there remain Outstanding any Notes. 

SEC Reports; Financial Statements. 
 (1) Whether or not the Partnership is then subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, from and after the Issue Date of the Notes, the Partnership shall
electronically file with the Commission, so long as the Notes are Outstanding, the annual, quarterly and other periodic reports that the Partnership is required to file (or would otherwise be required to file) with the Commission pursuant to
Sections 13 and 15(d) of the Exchange Act, and such documents shall be filed with the Commission on or prior to the respective dates (the “Required Filing Dates”) by which the Partnership is required to file (or would otherwise be
required to file) such documents, unless, in each case, such filings are not then permitted by the Commission. 

(2) If such filings are not then permitted by the Commission, or such filings are not generally available on the Internet
free of charge, from and after the Issue Date of the Notes, the Partnership shall provide the Trustee with, and the Trustee, at the Partnership’s expense, will mail to any Holder of Notes requesting in writing to the Trustee copies of, such
annual, quarterly and other periodic report specified in Sections 13 and 15(d) of the Exchange Act within 15 days after its Required Filing Date; provided, however, the Trustee shall have no liability whatsoever with respect to the mailing
and delivery of such reports to the Holders. 
 (3) The Partnership shall provide the Trustee with a sufficient
number of copies of all reports and other documents and information that the Trustee may be required to deliver to Holders of Notes under clause (2) of this Section 4.01, along with written notice from the Partnership to the Trustee of the
Required Filing Date for such documents. 
 (4) Delivery of such reports, information and documents 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, including the Partnership’s
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
 ARTICLE 5 
 MISCELLANEOUS 

SECTION 5.01. Certain Trustee Matters. 

The recitals contained herein shall be taken as the statements of the Partnership, and the Trustee assumes no responsibility for their
correctness. 
 The Trustee makes no representations as to the validity or sufficiency of this Eighth Supplemental Indenture or
the Notes or the proper authorization or the due execution hereof or thereof by the Partnership. 

  

					
		  	4	  	Eighth Supplemental Indenture

 Except as expressly set forth herein, nothing in this Eighth Supplemental Indenture shall
alter the duties, rights or obligations of the Trustee set forth in the Original Indenture. 
 The Trustee makes no
representation or warranty as to the validity or sufficiency of the information contained in the prospectus supplement related to the Notes, except such information which specifically pertains to the Trustee itself, or any information incorporated
therein by reference. 
 SECTION 5.02. Continued Effect. 

Except as expressly supplemented and amended by this Eighth Supplemental Indenture, the Original Indenture (as supplemented and amended by
the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture and the Seventh Supplemental Indenture)
shall continue in full force and effect in accordance with the provisions thereof, and the Original Indenture (as supplemented and amended by the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the
Fourth Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture, the Seventh Supplemental Indenture and this Eighth Supplemental Indenture) is in all respects hereby ratified and confirmed. This Eighth Supplemental
Indenture and all its provisions shall be deemed a part of the Original Indenture in the manner and to the extent herein and therein provided. 
 SECTION 5.03. Governing Law. 
 This Eighth
Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York. 

SECTION 5.04. Counterparts. 

This instrument may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. 
 [Remainder of Page Intentionally Left
Blank] 

  

					
		  	5	  	Eighth Supplemental Indenture

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

			
	BUCKEYE PARTNERS, L.P.
		
	 By:
	 	BUCKEYE GP LLC
		 	Its General Partner
		
	 By:
	 	/s/ Keith E. St.Clair
	 Name:
	 	Keith E. St.Clair
	 Title:
	 	Executive Vice President and Chief Financial Officer

 Signature Page to Eighth Supplemental Indenture 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	/s/ Jack Ellerin
	Name:	 	Jack Ellerin
	Title:	 	Vice President

 Signature Page to Eighth Supplemental Indenture 

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 
 [If a Global Security, insert—THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF,
ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN
EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.] 

[If a Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION, TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

BUCKEYE PARTNERS, L.P. 
 4.15% Notes due 2023 
  

			
	 No. [        ]
	  	U.S.$[                    ]

 CUSIP No. 118230 AK7 

BUCKEYE PARTNERS, L.P., a Delaware limited partnership (herein called the “Partnership”, 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 FIVE HUNDRED MILLION United States Dollars on July 1, 2023, and to pay
interest thereon from June 10, 2013, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on January 1 and July 1 in each year, commencing on January 1, 2014 at the
rate of 4.15% per annum, until the principal hereof is paid or made available for payment and at the rate of 4.15% per annum on any overdue principal and premium and on any overdue installment of interest. The amount of interest payable
for any period shall be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any partial period shall be computed on the basis of a 360-day year of twelve 30-day months and the days elapsed in any
partial month. In the event that any date on which interest is payable on this Security is not a Business Day, then a payment of the interest payable on such date will be made on the next succeeding day which is a Business Day (and without any
interest or other payment in respect of any such delay) with the same force and effect as if made on the date the payment was originally payable. A “Business Day” shall mean, when used with respect to any Place of Payment, each
Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law, executive order or regulation to close. The interest so payable, and punctually paid or
duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the “Regular Record
Date” for such interest, which shall be the December 15 or June 15 (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 shall
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange or automated quotation system, all
as more fully provided in such Indenture. 

 [If a Global Security, insert—Payment of the principal of (and premium, if any) and any
such interest on this Security will be made by transfer of immediately available funds to a bank account in the United States of America designated by the Holder in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts.] 
 [If a Definitive Security, insert—Payment of the principal of
(and premium, if any) and any such interest on this Security will be made at the office or agency of the Partnership maintained for that purpose in the Borough of Manhattan, the City and State of New York, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts or subject to any laws or regulations applicable thereto and to the right of the Partnership (as provided in the Indenture) to rescind the
designation of any such Paying Agent, at the offices of             in the Borough of Manhattan, The City and State of New York, and at such other offices or agencies as the Partnership may
designate, by United States Dollar check drawn on, or transfer to a United States Dollar account maintained by the payee with, a bank in The City of New York (so long as the applicable Paying Agent has received proper transfer instructions in
writing at least 10 days prior to the payment date); provided, however, that payment of interest may be made at the option of the Partnership by United States Dollar check mailed to the addresses of the Persons entitled thereto as such
addresses shall appear in the Security Register or by transfer to a United States Dollar account maintained by the payee with a bank in The City of New York (so long as the applicable Paying Agent has received proper transfer instructions in writing
by the Record Date prior to the applicable Interest Payment Date).] 
 Reference is hereby made to the further provisions of
this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Partnership has caused this instrument to be
duly executed. 
 Dated:             ,
             
  

					
	BUCKEYE PARTNERS, L.P.
		
	 By: 
	 	BUCKEYE GP LLC
		 	its General Partner
			
		 	By:	 	 
		 	Name:	 	
		 	Title:	 	

 This is one of the Securities of the series designated therein referred to in the within-mentioned
Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
	 as Trustee

		
	 By:
	 	
		 	  

		 	Authorized Signatory

 [REVERSE OF NOTE] 

BUCKEYE PARTNERS, L.P. 
 4.15% Notes due 2023 
 This Security is one of a duly authorized issue of
securities of the Partnership (the “Securities”), issued and to be issued in one or more series under an Indenture dated as of July 10, 2003, as amended and supplemented by the First Supplemental Indenture thereto dated as of
July 10, 2003, as further amended and supplemented by the Second Supplemental Indenture thereto dated as of August 19, 2003, as further amended and supplemented by the Third Supplemental Indenture thereto dated as of October 12, 2004,
as further amended and supplemented by the Fourth Supplemental Indenture thereto dated as of June 30, 2005, as further amended and supplemented by the Fifth Supplemental Indenture thereto dated as of January 11, 2008, as further amended
and supplemented by the Sixth Supplemental Indenture thereto dated as of August 18, 2009, as further amended and supplemented by the Seventh Supplemental Indenture thereto dated as of January 13, 2011, and as further amended and
supplemented by the Eighth Supplemental Indenture thereto dated as of June 10, 2013 (such Indenture, as so amended and supplemented being referred to herein as the “Indenture”), between the Partnership and U.S. Bank National
Association, a national banking association organized and existing under the laws of the United States of America (as successor-in-interest to SunTrust Bank), as Trustee (the “Trustee,” which term includes any successor trustee
under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Partnership, the Trustee
and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof. 

This Security is redeemable, in whole or in part, at the Partnership’s option at any time prior to the date that is three months
prior to maturity at a redemption price equal to the greater of (a) 100% of the principal amount of this Security, and (b) as determined by the Quotation Agent (as defined below), the sum of the present values of the remaining scheduled
payments of principal and interest (not including any portion of those payments of interest accrued as of the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Adjusted Treasury Rate (as defined below) plus 30 basis points, plus, in each case, accrued and unpaid interest to the date of redemption. 
 At any time on or after the date that is three months prior to maturity, this Security is redeemable, in whole or in part, at the Partnership’s option at par plus accrued and unpaid interest thereon
to, but excluding, the date of redemption. 
 For purposes of determining any redemption price, the following definitions shall
apply: 
 “Adjusted Treasury Rate” means, with respect to any date of redemption, the rate per annum equal to
the semi-annual equivalent yield to maturity of the Comparable Treasury Issue (as defined below), assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price (as
defined below) for the date of redemption. 
 “Comparable Treasury Issue” means the United States Treasury
security selected by the Quotation Agent as having a maturity comparable to the remaining term of this Security that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of this Security. 
 “Comparable Treasury Price”
means, with respect to any date of redemption, (a) the average of the Reference Treasury Dealer Quotations (as defined below) for the date of redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations, or
(b) if the Trustee obtains fewer than three Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations. 
 “Quotation Agent” means Barclays Capital Inc. or another Reference Treasury Dealer (as defined below) appointed by the Partnership. 

“Reference Treasury Dealer” means (a) Barclays Capital Inc. and its successors, (b) a primary U.S. Government
securities dealer in New York City (a “Primary Treasury Dealer”) selected by SunTrust Robinson Humphrey, Inc., (c) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC; provided, however, that if any of the
foregoing shall cease to be a Primary Treasury Dealer, the Partnership shall substitute another Primary Treasury Dealer; and (d) any other Primary Treasury Dealer selected by the Partnership. 

 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any date of redemption, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Trustee by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding that date of redemption. 
 Unless the Partnership defaults in payment of the redemption price, on and after the date of redemption, interest will cease to accrue on this Security or the portions hereof called for redemption.

 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for
the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 The Indenture
contains provisions for defeasance at any time of (1) the entire indebtedness of this Security or (2) certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions
set forth in the Indenture. 
 If an Event of Default with respect to Securities of this series shall occur and be continuing,
the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Partnership and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Partnership and the Trustee with the consent of not less than the Holders of a majority in aggregate principal amount of the Outstanding Securities of all series to be
affected (voting as one class). The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Outstanding Securities of all affected series (voting as one class), on behalf of the Holders of all
Securities of such series, to waive compliance by the Partnership with certain provisions of the Indenture. The Indenture permits, with certain exceptions as therein provided, the Holders of a majority in principal amount of Securities of any series
then Outstanding to waive past defaults under the Indenture with respect to such series and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and all holders of Securities
of which this Security is a Predecessor Security, whether or not notation of such consent or waiver is made upon this or any other Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a
receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than a majority
in principal amount of the Securities 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 satisfactory to the
Trustee and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such
proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment 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 Security or of the Indenture shall alter or impair the obligation of the Partnership, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place(s) and rate, and in the coin
or currency, herein prescribed. 
 [If a Global Security, insert—This Global Security or portion hereof may not be
exchanged for Definitive Securities of this series except in the limited circumstances provided in the Indenture. 

 The holders of beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture and will not be considered the Holders thereof for any purpose under the Indenture.] 
 [If a Definitive Security, insert—As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security Register, upon
surrender of this Security for registration of transfer at the office or agency of the Partnership in The City of New York, or, subject to any laws or regulations applicable thereto and to the right of the Partnership (limited as provided in the
Indenture) to rescind the designation of any such transfer agent, at the offices of             in the Borough of Manhattan, The City of New York, and at such other offices or agencies as
the Partnership may designate, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Partnership and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing,
and thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.] 

The Securities of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities 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 Partnership may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of transfer, the Partnership, the Trustee and any agent of the Partnership or the Trustee may treat the Person in whose name this Security is
registered as the owner hereof for all purposes, whether or not this Security is overdue, and neither the Partnership, the Trustee nor any such agent shall be affected by notice to the contrary. 

Obligations of the Partnership under the Indenture and the Securities thereunder, including this Security, are non-recourse to Buckeye GP
LLC (the “General Partner”) and its Affiliates (other than the Partnership), and payable only out of cash flow and assets of the Partnership. The Trustee, and each Holder of a Security by its acceptance hereof, will be deemed to
have agreed in the Indenture that (1) neither the General Partner nor its assets (nor any of its Affiliates, other than the Partnership, or their respective assets) shall be liable for any of the obligations of the Partnership under the
Indenture or such Securities, including this Security, and (2) no director, officer, employee, stockholder or unitholder, as such, of the Partnership, the Trustee, the General Partner or any Affiliate of any of the foregoing entities shall have
any personal liability in respect of the obligations of the Partnership under the Indenture or such Securities by reason of his, her or its status. 
 This Security shall be governed by and construed in accordance with the laws of the State of New York. 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 [If a Definitive Security, insert as a separate page— 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
                     (Please Print or Typewrite Name and Address of Assignee) the within instrument of BUCKEYE PARTNERS, L.P. and does hereby
irrevocably constitute and appoint                      Attorney to transfer said instrument on the books of the within-named Partnership, with full
power of substitution in the premises. 
 Please Insert Social Security or 
 Other Identifying Number of Assignee: 
  

							
	   
	  	 	  	  

				
	Dated:  	 	 	  		  	  

		 		  		  	(Signature)

  

			
	Signature Guarantee:  	  	  
		  	(Participant in a Recognized Signature
		  	Guaranty Medallion Program)

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the
within instrument in every particular, without alteration or enlargement or any change whatever.] 

 [If a Global Security, insert as a separate page— 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 
 The following increases or decreases in this Global Security have been made: 
  

									
	 

Date of Exchange
	  	Amount of
Decrease in
Principal
Amount of this
Global Security	  	Amount of
Increase in
Principal Amount
of this 
Global Security	  	Principal Amount
of this Global
Security following
such decrease

(or increase)	  	
Signature of
authorized officer
of Trustee or
Depositary]EX-4.1

 Exhibit 4.1 
 EDGESPRING, INC. 
 2010
EQUITY INCENTIVE PLAN 
 Adopted: August 3, 2010 

Approved By Stockholders: August 3, 2010 
 Termination Date: August 3, 2020 
  

	1.	PURPOSES. 

  

(a) Eligible Stock Award Recipients. The persons eligible to receive Stock Awards are the Employees, Directors and Consultants of
the Company and its Affiliates. 
 (b) Available Stock Awards. The purpose of the Plan is to provide a means by which
eligible recipients of Stock Awards may be given an opportunity to benefit from increases in value of the Common Stock through the granting of the following Stock Awards: (i) Incentive Stock Options, (ii) Nonstatutory Stock Options, and
(iii) Restricted Stock Awards. 
 (c) General Purpose. The Company, by means of the Plan, seeks to retain the
services of the group of persons eligible to receive Stock Awards, to secure and retain the services of new members of this group and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Affiliates.
The Company intends that the Plan comply with Section 409A of the Code (including any amendments or replacement of such section) and the Plan shall be so construed. 

 

	2.	DEFINITIONS. 

 (a) “Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined in Sections 424(e) and
(f), respectively, of the Code. 
 (b) “Board” means the Board of Directors of the Company.

 (c) “Code” means the Internal Revenue Code of 1986, as amended. 

(d) “Committee” means a committee of one or more Directors appointed by the Board in accordance with
subsection 3(c). 
 (e) “Common Stock” means the common stock of the Company. 

(f) “Company” means EdgeSpring, Inc., formerly known as Omni Science Technology, Inc. a Delaware
corporation. 
 (g) “Consultant” means any person, including an advisor, (i) engaged by the
Company or an Affiliate to render consulting or advisory services and who is compensated for such services, or (ii) who is a member of the Board of Directors of an Affiliate. However, the term “Consultant” shall not include either
Directors who are not compensated by the Company for their services as Directors or Directors who are merely paid a director’s fee by the Company for their services as Directors. 

  
 1 

 (h) “Continuous Service” means that the Participant’s
service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. The Participant’s Continuous Service shall not be deemed to have terminated merely because of a change in the capacity
in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination of the
Participant’s Continuous Service; provided, however, if the corporation for which Participant is rendering services ceases to qualify as an Affiliate, as determined by the Board in its discretion, such Participant’s Continuous Service
shall be considered to have terminated on the date such corporation ceases to qualify as an Affiliate. For example, a change in status from an Employee of the Company to a Consultant of an Affiliate or a Director will not constitute an interruption
of Continuous Service. The Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence approved by that
party, including sick leave, military leave or any other personal leave. 
 (i) “Director” means
a member of the Board of Directors of the Company. 
 (j) “Disability” means the inability of a
person, in the opinion of a qualified physician acceptable to the Company, to perform the major duties of that person’s position with the Company or an Affiliate of the Company because of the sickness or injury of the person. 

(k) “Employee” means any person employed by the Company or an Affiliate. However, service solely as a
Director or payment of a director’s fee by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company or an Affiliate. 
 (l) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (m) “Fair Market Value” means, as of any date, the value of the Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap Market, or such other national or regional exchange or market
system constituting the primary market for the Common Stock, the Fair Market Value of a share of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or
the exchange or market with the greatest volume of trading in the Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable.

 (ii) In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by
the Board. The value of the Common Stock shall be determined in a manner consistent with Section 260.140.50 of Title 10 of the California Code of Regulations and subject to the applicable requirements, if any, of Section 409A of the Code.

  
 2 

 (n) “Incentive Stock Option” means an Option that qualifies
as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(o) “Nonstatutory Stock Option” means an Option that does not qualify as an Incentive Stock Option.

 (p) “Officer” means any person designated by the Board as an officer of the Company.

 (q) “Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant
to the Plan. 
 (r) “Option Agreement” means a written agreement between the Company and an
Optionholder evidencing the terms and conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 
 (s) “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other person who holds an outstanding Option. 

(t) “Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable,
such other person who holds an outstanding Stock Award. 
 (u) “Plan” means this EdgeSpring,
Inc., 2010 Equity Incentive Plan. 
 (v) “Restricted Stock Award” means an award of shares of
Common Stock which is granted pursuant to Section 7. 
 (w) “Restricted Stock Award
Agreement” means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award. Each Restricted Stock Award Agreement shall be subject to the terms and
conditions of the Plan. 
 (x) “Securities Act” means the Securities Act of 1933, as amended.

 (y) “Stock Award” means any right granted under the Plan, including an Option or a Restricted
Stock Award. 
 (z) “Stock Award Agreement” means a written agreement between the Company and a
holder of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan. 

  
 3 

 (aa) “Ten Percent Stockholder” means a person who owns (or is
deemed to own pursuant to Section 424(d) of the Code) stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any of its Affiliates. 

 

	3.	ADMINISTRATION. 

 (a) Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee, as provided in subsection 3(c). 

(b) Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the
Plan: 
 (i) To determine from time to time which of the persons eligible under the Plan shall be granted Stock Awards;
when and how each Stock Award shall be granted; what type or combination of types of Stock Award shall be granted; the provisions of each Stock Award granted (which need not be identical), including the time or times when a person shall be permitted
to receive Common Stock pursuant to a Stock Award; and the number of shares of Common Stock with respect to which a Stock Award shall be granted to each such person. 
 (ii) To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules and regulations for its administration. The Board, in the exercise of this power,
may correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. 

(iii) To accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or any part
thereof will vest in accordance with the Plan, notwithstanding the provisions in the Stock Award stating the time at which it may first be exercised or the time during which it will vest. 

(iv) To amend the Plan or a Stock Award as provided in Section 12. 

(v) To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by individuals
employed outside the United States. 
 (vi) Generally, to exercise such powers and to perform such acts as the Board
deems necessary or expedient to promote the best interests of the Company which are not in conflict with the provisions of the Plan. 
 (c) Delegation to Committee. The Board may delegate administration of the Plan to a Committee or Committees of one (1) or more members of the Board, and the term “Committee” shall
apply to any person or persons to whom such authority has been delegated. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board,
including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board shall thereafter be to the Committee or

  
 4 

 
subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to
concurrently with the Committee to administer the Plan and may, at any time, revest in the Board the administration of the Plan. 
 (d) Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith shall not be subject to review by any person and shall be final, binding
and conclusive on all persons. 
  

	4.	SHARES SUBJECT TO THE PLAN. 

(a) Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the maximum
number of shares of Common Stock that may be issued pursuant to Stock Awards shall be One Million Fourteen Thousand One Hundred Fifty Three (1,014,153) and shall consist of authorized but unissued or reacquired shares or any combination
thereof. 
 (b) Reversion of Shares to the Share Reserve. If any Stock Award shall for any reason expire or otherwise
terminate, in whole or in part, without having been exercised in full, or if any shares of Common Stock issued to a Participant pursuant to a Stock Award are forfeited back to or repurchased by the Company, including, but not limited to, any
repurchase or forfeiture caused by the failure to meet a contingency or condition required for the vesting of such shares, then the shares of Common Stock not acquired by the Participant under such Stock Award shall revert to and again become
available for issuance under the Plan. If any shares subject to a Stock Award are not delivered to a Participant because such shares are withheld for the payment of taxes or the Stock Award is exercised through a reduction of shares subject to the
Stock Award (i.e., “net exercised”), then the number of shares that are not delivered shall revert to and again become available for issuance under the Plan. If the exercise price of any Stock Award is satisfied by tendering shares of
Common Stock held by the Participant (either by actual delivery or attestation), then the number of such tendered shares shall revert to and again become available for issuance under the Plan. 

(c) Maximum Number of Shares Issuable Pursuant to Incentive Stock Options. Subject to subsection 4(a) and adjustment as
provided in Section 11, the maximum aggregate number of shares of Common Stock that may be issued under the Plan pursuant to the exercise of Incentive Stock Options shall not exceed One Million Fourteen Thousand One Hundred Fifty Three
(1,014,153) shares (the “ISO Share Limit”). 
 (d) Share Reserve Limitation. To the extent required by
Section 260.140.45 of Title 10 of the California Code of Regulations, the total number of shares of Common Stock issuable upon exercise of all outstanding Options and the total number of shares of Common Stock provided for under any stock bonus
or similar plan of the Company shall not exceed the applicable percentage as calculated in accordance with the conditions and exclusions of Section 260.140.45 of Title 10 of the California Code of Regulations, based on the shares of Common
Stock of the Company that are outstanding at the time the calculation is made. 

  
 5 

	5.	ELIGIBILITY. 

 (a) Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to Employees. Stock Awards other than Incentive Stock Options may be granted to Employees, Directors and
Consultants. 
 (b) Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option
unless the exercise price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and the Option is not exercisable after the expiration of five (5) years from the date of
grant. 
 (c) Consultants. A Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant,
either the offer or the sale of the Company’s securities to such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”) because of the nature of the services that the Consultant is providing to the Company, or
because the Consultant is not a natural person, or as otherwise provided by Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701 and will satisfy another exemption under the Securities Act as well
as comply with the securities laws of all other relevant jurisdictions. 
  

	6.	OPTION PROVISIONS. 

 Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock Options or Nonstatutory Stock
Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares of Common Stock purchased on exercise of each type of Option. The provisions of separate Options need not be identical,
but each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following provisions: 
 (a) Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, no Option shall be exercisable after the expiration of ten (10) years from the date it was granted.

 (b) Exercise Price of an Incentive Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent
Stockholders, the exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the
foregoing, an Incentive Stock Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the
provisions of Section 424(a) of the Code. 
 (c) Exercise Price of a Nonstatutory Stock Option. The exercise price
of each Nonstatutory Stock Option shall be not less than the Fair Market Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, a 

  
 6 

 
Nonstatutory Stock Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another
option in a manner satisfying the provisions of Section 424(a) of the Code. 
 (d) Consideration. The purchase price
of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted by applicable statutes and regulations, either (i) in cash or by check or cash equivalent, (ii) by tender to the Company, or attestation to the
ownership, of shares of Common Stock owned by the Optionholder having a Fair Market Value not less than the exercise price, (iii) by delivery of a properly executed notice together with irrevocable instructions to a broker providing for the
assignment to the Company of the proceeds of a sale or loan with respect to some or all of the shares being acquired upon the exercise of the Option (including, without limitation, through an exercise complying with the provisions of
Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System) (a “Cashless Exercise”), (iv) by such other consideration as may be approved by the Board from time to time to the extent
permitted by applicable law, or (v) by any combination thereof. The Board may at any time or from time to time, by approval of or by amendment to the standard forms of Option Agreement, or by other means, grant Options which do not permit all
of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict one or more forms of consideration. 
 Unless otherwise specifically provided in the Option, the purchase price of Common Stock acquired pursuant to an Option that is paid by delivery to the Company of other Common Stock acquired, directly or
indirectly from the Company, shall be paid only by shares of the Common Stock of the Company that have been held for more than six (6) months (or such longer or shorter period of time required to avoid a charge to earnings for financial
accounting purposes). 
 (e) Transferability of Options. During the lifetime of the Optionholder, an Option shall be
exercisable only by the Optionholder or the Optionholder’s guardian or legal representative. No Option shall be assignable or transferable by the Optionholder, except by will or by the laws of descent and distribution. Notwithstanding the
foregoing, to the extent permitted by the Board, in its discretion, and set forth in the Option Agreement evidencing such Option, a Nonstatutory Stock Option shall be assignable or transferable subject to the applicable limitations, if any,
described in Section 260.140.41 of Title 10 of the California Code of Regulations, Rule 701 under the Securities Act, and the General Instructions to Form S-8 Registration Statement under the Securities Act. 

(f) Vesting Generally. The total number of shares of Common Stock subject to an Option may, but need not, vest and therefore
become exercisable in periodic installments that may, but need not, be equal. The Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance or other criteria) as the
Board may deem appropriate. The vesting provisions of individual Options may vary. The provisions of this subsection 6(f) are subject to any Option provisions governing the minimum number of shares of Common Stock as to which an Option may be
exercised. 

  
 7 

 (g) Termination of Continuous Service. In the event an Optionholder’s Continuous
Service terminates (other than upon the Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination) but only
within such period of time ending on the earlier of (i) the date thirty (30) days following the termination of the Optionholder’s Continuous Service (or such longer or shorter period specified in the Option Agreement); or
(ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein or in the Option Agreement, as applicable, the
Option shall terminate. 
 (h) Extension of Termination Date. An Optionholder’s Option Agreement may also provide
that if the exercise of the Option following the termination of the Optionholder’s Continuous Service (other than upon the Optionholder’s death or Disability) would be prohibited at any time solely because the issuance of shares of Common
Stock would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of a period of three (3) months after the termination of the Optionholder’s Continuous
Service during which the exercise of the Option would not be in violation of such registration requirements or (ii) the expiration of the term of the Option as set forth in the Option Agreement. 

(i) Disability of Optionholder. In the event that an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of
(i) the date six (6) months following such termination (or such longer period specified in the Option Agreement); or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the
Optionholder does not exercise his or her Option within the time specified herein or in the Option Agreement, as applicable, the Option shall terminate. 
 (j) Death of Optionholder. In the event (i) an Optionholder’s Continuous Service terminates as a result of the Optionholder’s death or (ii) the Optionholder dies within the
period (if any) specified in the Option Agreement after the termination of the Optionholder’s Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such
Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionholder’s death pursuant to
subsection 6(e), but only within the period ending on the earlier of (1) the date six (6) months following the date of death (or such longer period specified in the Option Agreement); or (2) the expiration of the term of such Option
as set forth in the Option Agreement. If, after death, the Option is not exercised within the time specified herein or in the Option Agreement, as applicable, the Option shall terminate. 

(k) Early Exercise. The Option may, but need not, include a provision whereby the Optionholder may elect at any time before the
Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock subject to the Option 

  
 8 

 
prior to the full vesting of the Option. Subject to the “Repurchase Limitation” in subsection 10(g), any unvested shares of Common Stock so purchased may be subject to a repurchase
option in favor of the Company or to any other restriction the Board determines to be appropriate. 
 (l) Right of
Repurchase. Subject to the “Repurchase Limitation” in subsection 10(g), the Option may, but need not, include a provision whereby the Company may elect to repurchase all or any part of the vested shares of Common Stock acquired by the
Optionholder pursuant to the exercise of the Option. 
 (m) Right of First Refusal. The Option may, but need not, include
a provision whereby the Company may elect to exercise a right of first refusal following receipt of notice from the Optionholder of the intent to transfer all or any part of the shares of Common Stock received upon the exercise of the Option. Except
as expressly provided in this subsection 6(m), such right of first refusal shall otherwise comply with any applicable provisions of the Bylaws of the Company. 
  

	7.	PROVISIONS OF STOCK AWARDS OTHER THAN OPTIONS.

 Each Restricted Stock Award Agreement shall be in such form and shall contain such terms and conditions as
the Board shall deem appropriate. The terms and conditions of the Restricted Stock Award may change from time to time, and the terms and conditions of separate Restricted Stock Award Agreements need not be identical, but each Restricted Stock Award
shall include (through incorporation of provisions hereof by reference in the agreement or otherwise) the substance of each of the following provisions: 
 (a) Purchase Price. The purchase price under each Restricted Stock Award shall be established by the Board on the date such award is made or at the time the purchase is consummated. Notwithstanding
the foregoing, a Restricted Stock Award may be awarded as a stock bonus, with no cash purchase price to be paid, to the extent permitted under applicable law. 
 (b) Consideration. The purchase price of Common Stock acquired pursuant to the Restricted Stock Award shall be paid either (i) in cash or by check or cash equivalent, (ii) in the form of
the Participant’s past service rendered to the Company or its Affiliate having a value not less than the aggregate purchase price of the shares being acquired, (iii) by such other consideration as may be approved by the Board from time to
time to the extent permitted by applicable law, or (iv) by any combination thereof. The Board may at any time or from time to time, by adoption of or by amendment to the standard form of Restricted Stock Award Agreement, or by other means,
grant Restricted Stock Awards which do not permit all of the foregoing forms of consideration to be used in payment of the purchase price or which otherwise restrict one or more forms of consideration. 

(c) Vesting. Subject to the “Repurchase Limitation” in subsection 10(g), shares of Common Stock acquired under a
Restricted Stock Award Agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule to be determined by the Board. 

  
 9 

 (d) Termination of Participant’s Continuous Service. Subject to the
“Repurchase Limitation” in subsection 10(g), in the event a Participant’s Continuous Service terminates, the Company may repurchase or otherwise reacquire any or all of the shares of Common Stock held by the Participant, which have
not vested as of the date of termination under the terms of the Restricted Stock Award Agreement. 
 (e) Transferability.
Rights to acquire shares of Common Stock under a Restricted Stock Award Agreement shall not be transferable except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the
Participant. 
  

	8.	COVENANTS OF THE COMPANY. 

(a) Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number of
shares of Common Stock required to satisfy such Stock Awards. 
 (b) Securities Law Compliance. The Company shall seek to
obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the Stock Awards; provided, however, that this
undertaking shall not require the Company to register under the Securities Act the Plan, any Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable to obtain from any
such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common
Stock upon exercise of such Stock Awards unless and until such authority is obtained. 
  

	9.	USE OF PROCEEDS FROM STOCK. 

Proceeds from the sale of Common Stock pursuant to Stock Awards shall constitute general funds of the Company. 

 

	10.	MISCELLANEOUS. 

 (a) Stockholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to such Stock Award unless
and until such Participant has satisfied all requirements for exercise of the Stock Award pursuant to its terms. 
 (b) No
Employment or other Service Rights. Nothing in the Plan or any instrument executed thereunder or Stock Award granted pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in
effect at the time the Stock Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) the employment of an Employee with or without notice and with or without cause, (ii) the service of a Consultant
pursuant to the terms of such Consultant’s agreement with the Company or an Affiliate, or (iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the
state in which the Company or the Affiliate is incorporated, as the case may be. 

  
 10 

 (c) Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair
Market Value (determined at the time of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during any calendar year (under all plans of the Company and its Affiliates) exceeds
one hundred thousand dollars ($100,000), the Options or portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options. 

(d) Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Common Stock under any
Stock Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company
who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of exercising the Stock Award; and (ii) to give
written assurances satisfactory to the Company stating that the Participant is acquiring Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention of selling or otherwise distributing the
Common Stock. The foregoing requirements, and any assurances given pursuant to such requirements, shall be inoperative if (1) the issuance of the shares of Common Stock upon the exercise or acquisition of Common Stock under the Stock Award has
been registered under a then currently effective registration statement under the Securities Act or (2) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the
circumstances under the then applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems necessary or appropriate in order to comply with
applicable securities laws, including, but not limited to, legends restricting the transfer of the Common Stock. 
 (e)
Withholding Obligations. To the extent provided by the terms of a Stock Award Agreement, the Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under a Stock
Award by any of the following means (in addition to the Company’s right to withhold from any compensation paid to the Participant by the Company) or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the
Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition of Common Stock under the Stock Award, provided, however, that no shares of Common Stock are
withheld with a value exceeding the minimum amount of tax required to be withheld by law; (iii) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law; or (iv) any
combination thereof. 
 (f) Fractional Shares. The Company shall not be required to issue fractional shares upon the
exercise or settlement of any Stock Award. 

  
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 (g) Repurchase Limitation. The terms of any repurchase option shall be specified in
the Stock Award the repurchase price may be either at Fair Market Value at the time of repurchase or at not less than the original purchase price. To the extent required by Section 260.140.8 of Title 10 of the California Code of Regulations at
the time a Stock Award is made, any repurchase option contained in a Stock Award shall be upon the terms described below: 

(i) Fair Market Value. If the repurchase option gives the Company the right to repurchase the shares of Common Stock upon
termination of Continuous Service at not less than the Fair Market Value of the shares of Common Stock to be purchased on the date of termination of Continuous Service, then (i) the right to repurchase shall be exercised for cash or
cancellation of purchase money indebtedness for the shares of Common Stock within six (6) months of termination of Continuous Service (or in the case of shares of Common Stock issued upon exercise of Stock Awards after such date of termination,
within six (6) months after the date of the exercise) or such longer period as may be agreed to by the Company and the Participant, provided the repurchase right terminates when the Company’s securities become publicly traded. 

(ii) Original Purchase Price. If the repurchase option gives the Company the right to repurchase the shares of Common Stock upon
termination of Continuous Service at the original purchase price, then (i) the right to repurchase at the original purchase price shall lapse at the rate of at least twenty percent (20%) of the shares of Common Stock per year over five
(5) years from the date the Stock Award is granted (without respect to the date the Stock Award was exercised or became exercisable) and (ii) the right to repurchase shall be exercised for cash or cancellation of purchase money
indebtedness for the shares of Common Stock within six (6) months of termination of Continuous Service (or in the case of shares of Common Stock issued upon exercise of Options after such date of termination, within six (6) months after
the date of the exercise) or such longer period as may be agreed to by the Company and the Participant. 
 (iii) Additional
Limitations. In addition to the restrictions set forth in Sections 10(g)(i) and (ii), the shares of Common Stock held by an Officer, Director, advisor or Consultant of the Company, or its Affiliates, may be subject to additional or greater
restrictions. 
 (h) Severability. If any one or more of the provisions (or any part thereof) of this Plan shall be held
invalid, illegal or unenforceable in any respect, such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality and enforceability of the remaining provisions (or any part thereof) of the Plan shall not
in any way be affected or impaired thereby. 
  

	11.	ADJUSTMENTS UPON CHANGES IN STOCK. 

(a) Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Stock Award,
without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares,
exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately adjusted in the class(es) 

  
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and maximum number of securities subject to the Plan pursuant to subsection 4(a) and the ISO Share Limit in subsection 4(c), and the outstanding Stock Awards will be appropriately adjusted in the
class(es) and number of securities and price per share of Common Stock subject to such outstanding Stock Awards. Any fractional share resulting from an adjustment pursuant to this subsection 11(a) shall be rounded down to the nearest whole
number, and the exercise price per share shall be rounded up to the nearest whole cent. In no event may the exercise price of any Stock Award be decreased to an amount less than the par value, if any, of the stock subject to the award. The Board
shall make such adjustments, and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a transaction “without receipt of consideration” by the
Company.) 
 (b) Dissolution or Liquidation. In the event of a dissolution or liquidation of the Company, then all
outstanding Stock Awards shall terminate immediately prior to such event. 
 (c) Asset Sale, Merger, Consolidation or Reverse
Merger. In the event of (i) a sale, lease or other disposition of all or substantially all of the assets of the Company, (ii) a merger or consolidation in which the Company is not the surviving corporation or (iii) a reverse
merger in which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise
(individually, a “Corporate Transaction”), then any surviving corporation or acquiring corporation (collectively, the “Successor Corporation”) shall assume any Stock Awards outstanding under the Plan or shall substitute similar
stock awards (including an award to acquire the same consideration paid to the stockholders in the Corporate Transaction) for those outstanding under the Plan (the “Successor Stock Awards”),. In the event any surviving corporation or
acquiring corporation refuses to assume such Stock Awards or to substitute similar stock awards for those outstanding under the Plan, then with respect to Stock Awards held by Participants whose Continuous Service has not terminated prior to the
consummation of the Corporate Transaction, the vesting of such Stock Awards (and, if applicable, the time during which such Stock Awards may be exercised) shall be accelerated in full, and the Stock Awards shall terminate if not exercised (if
applicable) at or prior to the Corporate Transaction. With respect to any other Stock Awards outstanding under the Plan, such Stock Awards shall terminate if not exercised (if applicable) prior to the Corporate Transaction. 

(d) Acceleration of Vesting. The Board may, in its sole discretion, provide in any Stock Award Agreement or, in the event of a
Corporate Transaction, may take such actions as it deems appropriate to provide for the acceleration of the exercisability and vesting in connection with such Corporate Transaction of any or all outstanding Stock Awards and shares acquired upon the
exercise thereof upon such conditions, including termination of the Participant’s Continuous Service prior to, upon, or following such Corporate Transaction, and to such extent as the Board shall determine. 

(e) Cash-Out of Awards The Board may, in its sole discretion and without the consent of any Participant, determine that, upon the
occurrence of a Corporate Transaction, each or any Stock Award outstanding immediately prior to the Corporate Transaction shall be 

  
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canceled in exchange for a payment with respect to each vested share (and each unvested share, if so determined by the Board) of Common Stock subject to such canceled Stock Award in
(i) cash, (ii) stock of the Company or of a corporation or other business entity a party to the Corporate Transaction, or (iii) other property which, in any such case, shall be in an amount having a Fair Market Value equal to the Fair
Market Value of the consideration to be paid per share of Common Stock in the Corporate Transaction over the exercise price per share under such Stock Award (the “Spread”). In the event such determination is made by the Board, the Spread
(reduced by applicable withholding taxes, if any) shall be paid to Participants in respect of their canceled Stock Awards as soon as practicable following the date of the Corporate Transaction and in respect of the unvested portion of their canceled
Stock Awards in accordance with the vesting schedule applicable to such Awards as in effect prior to the Corporate Transaction. 
  

	12.	AMENDMENT OF THE PLAN AND STOCK AWARDS.

 (a) Amendment of Plan. The Board at any time, and from time to time, may amend the Plan. However,
except as provided in Section 11 relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders of the Company to the extent stockholder approval is required under applicable law.

 (b) Contemplated Amendments. It is expressly contemplated that the Board may amend the Plan in any respect the Board
deems necessary or advisable to provide eligible Employees with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to Incentive Stock Options and/or to bring the Plan
and/or Incentive Stock Options granted under it into compliance therewith. 
 (c) No Impairment of Rights. Rights under
any Stock Award granted before amendment of the Plan shall not be impaired by any amendment of the Plan unless (i) the Company requests the consent of the Participant and (ii) the Participant consents in writing. 

(d) Amendment of Stock Awards. The Board at any time, and from time to time, may amend the terms of any one or more Stock Awards;
provided, however, that the rights under any Stock Award shall not be impaired by any such amendment unless (i) the Company requests the consent of the Participant and (ii) the Participant consents in writing. Notwithstanding the foregoing
and any other provision of the Plan to the contrary, the Board may, in its sole and absolute discretion and without the consent of any Participant, amend the Plan or any Stock Award Agreement, to take effect retroactively or otherwise, as it deems
necessary or advisable for the purpose of conforming the Plan or such Stock Award Agreement to any present or future law, regulation or rule applicable to the Plan, including, but not limited to, Section 409A of the Code. 

 

	13.	TERMINATION OR SUSPENSION OF THE PLAN. 

(a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on the
day before the tenth (10th) anniversary of the date the Plan is adopted by the Board or approved by the stockholders of the Company, whichever is earlier. No Stock Awards may be granted under the Plan while the Plan is suspended or after it is
terminated. 

  
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 (b) No Impairment of Rights. Suspension or termination of the Plan shall not impair
rights and obligations under any Stock Award granted while the Plan is in effect except with the written consent of the Participant. 
  

	14.	EFFECTIVE DATE OF PLAN. 

The Plan shall become effective as determined by the Board, but no Stock Award shall be exercised (or, in the case of a Restricted Stock
Award, shall be granted) unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board. 

 

	15.	CHOICE OF LAW. 

 The law of the State of California shall govern all questions concerning the construction, validity and interpretation of this Plan, without regard to such state’s conflict of laws rules. 

  
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