Document:

Lease Agreement

 Exhibit 10.8 
 LEASE AGREEMENT 
 dated as of November 6, 2012 

between 

AMUR FINANCE I LLC, 
 as Lessor 
 and 

QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC. 
 as Lessee 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 1.
	 	 Interpretation
	  	 	1	  
			
	 2.
	 	 General Obligations
	  	 	2	  
			
	 3.
	 	 Lease Rent
	  	 	2	  
			
	 4.
	 	 Delivery
	  	 	3	  
			
	 5.
	 	 Termination and Return; Prepayment
	  	 	3	  
			
	 6.
	 	 Default
	  	 	5	  
			
	 7.
	 	 Representations and Warranties
	  	 	7	  
			
	 8.
	 	 Lessee Covenants
	  	 	11	  
			
	 9.
	 	 Conditions Precedent
	  	 	15	  
			
	 10.
	 	 Equipment Security Interest Grant; Change in Tax Law; Pledge of Equipment and Accounts
	  	 	16	  
			
	 11.
	 	 Force Majeure
	  	 	18	  
			
	 12.
	 	 Indemnities
	  	 	18	  
			
	 13.
	 	 Limitation of Liability
	  	 	19	  
			
	 14.
	 	 Further Assurances
	  	 	19	  
			
	 15.
	 	 Entire Agreement
	  	 	19	  
			
	 16.
	 	 Amendments
	  	 	20	  
			
	 17.
	 	 Notices
	  	 	20	  
			
	 18.
	 	 Assignment and Transfer
	  	 	21	  
			
	 19.
	 	 Jurisdiction
	  	 	21	  
			
	 20.
	 	 Expenses
	  	 	22	  
			
	 21.
	 	 Governing Law
	  	 	22	  
			
	 22.
	 	 Counterparts
	  	 	22	  
			
	 23.
	 	 Confidentiality; Mutual Nondisclosure Agreement
	  	 	23	  
			
	 24.
	 	 Survival after Termination Date
	  	 	24	  

  
 - i -

			
	 Schedule 1
	  	 Definitions

	 Schedule 2
	  	 List of Sold Equipment

	 Schedule 3
	  	 Form of Delivery and Acceptance Certificate

	 Schedule 4
	  	 List of Sold Equipment, Additional Sold Equipment and Buyer-Purchased Equipment

	
	 Schedule 7.2(I) (Certain Disclosures)

  
 - ii -

 LEASE AGREEMENT 

This Lease Agreement (this “Agreement”), dated as of November 6, 2012 (the “Closing Date”), is
made between AMUR FINANCE I LLC, as lessor (“Lessor”), a Delaware limited liability company and QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC., as lessee (“Lessee”), a Delaware corporation. 

W I T N E S S E T H: 

WHEREAS, pursuant to that certain Sale and Purchase Agreement, dated as of November 6, 2012 (the “Sale and Purchase
Agreement”), between Lessee and Lessor, Lessee sold full legal and beneficial title to certain equipment identified on Schedule 2  hereto (the “Sold Equipment”) to Lessor; 

WHEREAS, it was the express intention of Lessee and Lessor that the Sale and Purchase Agreement constituted a true sale of the Sold
Equipment and not a financing and Lessor is the owner of the Sold Equipment; 
 WHEREAS, upon the terms and conditions contained
herein, Lessor agrees to lease to Lessee, and Lessee agrees to lease from Lessor, and grant to Lessor a security interest in, the Sold Equipment, the Additional Sold Equipment and the Buyer-Purchased Equipment, (collectively, the Sold Equipment, the
Additional Sold Equipment and the Buyer-Purchased Equipment is hereinafter referred to as the “Equipment”). 

WHEREAS, this Agreement shall become effective upon the satisfaction of the conditions precedent set forth in clause 9. 

THEREFORE, in consideration of the premises and the covenants and agreements contained herein, the parties hereto hereby agree as
follows: 
  

	1.	Interpretation 

  

	 	1.1.	The headings do not affect the interpretation of this Agreement and the Schedules form part of this Agreement. 

 

	 	1.2.	In this Agreement, all capitalized terms shall have the meanings set forth herein or in Schedule 1 hereto. The definitions of terms herein shall apply equally to the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall
be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise (a) the words
“herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof and (b) all references herein to clauses and
Schedules shall be construed to refer to clauses and Schedules to this Agreement. The term “including” when used in any Operative Document means “including without limitation” except when used in the computation of time periods.

	2.	General Obligations 

  

	 	2.1.	During the period commencing on the Closing Date and ending on the applicable Termination Date (the “Lease Period”), Lessor and Lessee agree, so long
as no Default exists and is then continuing or would result therefrom, Lessor shall make available to Lessee the Equipment for use at Lessee’s Facilities on the terms set forth herein. 

 

	 	2.2.	Lessee shall not sublease any of the Equipment to any other Person or allow the Equipment to be removed from the Facilities or permit the Equipment to be used by anyone
other than Lessee’s employees, until the Equipment is delivered to Lessor or title is transferred to Lessee in accordance with clause 5.2. 

  

	 	2.3.	Lessee represents, warrants and agrees that it does not have, and by execution of this Agreement and/or any payment or performance hereunder shall not have or obtain,
any title to the Equipment, nor any property right or interest, legal or equitable, therein, except its rights as expressly set forth hereunder as a lessee of the Equipment subject to the terms hereof. 

 

	 	2.4.	Lessor shall not be liable in any way for the maintenance or performance of the Equipment or any form of damages related to the Equipment whatsoever. The Lessee has
reviewed, and understands the express disclaimers of warranties by the Lessor contained herein, including without limitation clause 7.3 hereof. 

  

	 	2.5.	Lessee and Lessor agree that this Lease is a “net lease” and that Lessee shall have sole responsibility for all costs of any kind whatsoever related to the
use, operation or possession of the Equipment. 

  

	3.	Lease Rent 

  

	 	3.1.	Lessee shall pay to Lessor on each Payment Date monthly rent of $111,845.50, as such amount is adjusted to reflect any Lease Rent Adjustment, as defined in
Section 5 of the Sale and Purchase Agreement (“Lease Rent”). Payments will be made by wire transfer to a collection account (account number             ) at Deutsche
Bank Trust Company Americas (the “Collection Account”). 

  

	 	3.2.	The Lease Rent for the Equipment will be payable in arrears in immediately available funds on each Payment Date. Lessee agrees that time is of the essence to Lessor in
Lessee’s making payments of the Lease Rent when such payment is due. 

  

	 	3.3.	 Lessee’s obligation to pay any amount payable hereunder (including, without limitation, Lease Rent (as adjusted to reflect any Lease Rent
Adjustment), Consideration or any indemnification obligation) shall be absolute and unconditional and shall not be affected by any circumstance, including any 

  
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abatement, reduction or setoff, defense, counterclaim, recoupment or other right that Lessee may have against the Lessor, its Affiliates or any other person for any reason whatsoever. This Lease
is a “hell or high water” lease and is a non-cancelable obligation of Lessee and shall not terminate in the event of any damage or destruction of the Equipment, if the Equipment becomes partly or wholly unusable for Lessee’s
purpose (or for any purpose) or for any other reason or upon any event other than as expressly provided herein. The Lessee waives the right to cancel the Lease, repudiate the Lease, reject the Equipment in whole or in part, revoke acceptance of the
Equipment, recover damages from Lessor under warranty claims or for any other reason or grant any security interest in the Equipment to any third party. 

  

	4.	Delivery 

  

	 	4.1.	All of the Equipment shall be deemed to have been delivered by Lessor to Lessee on the Closing Date for all purposes hereunder. The Lessee shall be required to complete
and deliver to Lessor a delivery and acceptance certificate substantially in the form of Schedule 3 hereto (a “Delivery and Acceptance Certificate”) upon actual physical delivery of each piece of Equipment. 

 

	 	4.2.	Each piece of Additional Equipment and Buyer-Purchased Equipment shall be paid for out of the funds held in the Escrow Account in the manner provided in
Section 1(b) (as to Additional Equipment) and Section 5 (as to Buyer-Purchased Equipment) of the Sale and Purchase Agreement. 

  

	 	4.3.	Lessee and Lessor agree that Schedule 4 to this Agreement, which describes by category all of the Sold Equipment, Additional Sold Equipment and Buyer-Purchased
Equipment, shall be updated each time that Lessee executes a Delivery and Acceptance Certificate with respect to any item of Additional Equipment or Buyer-Purchased Equipment. 

 

	5.	Termination and Return; Prepayment 

  

	 	5.1.	This Lease shall terminate on the earliest of (such date, the “Termination Date”): 

 

	 	(a)	the Lease Expiration Date; or 

  

	 	(b)	the Early Termination Date; or 

  

	 	(c)	the Prepayment Termination Date. 

  

	 	5.2.	Upon the Termination Date, Lessee shall settle the Lease by purchasing the Equipment, in which case: 

 

	 	(i)	 Lessee shall transfer consideration for such purchase to Lessor, on the Termination Date, in an amount equal to (such amount, the
“Consideration”): (i) in the case of a Termination Date under Sections 5.1(a) and 5.1(b), 20% of the Purchase Price, minus the 

  
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balance of any funds remaining in the Escrow Account or (ii) in the case of a Termination Date under Section 5.1(c), the amount computed in accordance with Section 5.4(c), minus
the balance of any funds remaining in the Escrow Account; 

  

	 	(ii)	Lessee shall transfer the balance of any funds remaining in the Escrow Account to Lessor; and 

 

	 	(iii)	full title in and to all of the Equipment shall be transferred by Lessor to Lessee (or such third party as Lessee shall designate) free and clear of any Liens on
receipt by Lessor of the Consideration. 

  

	 	5.3.	Notwithstanding anything herein to the contrary, in the event of: 

  

	 	(a)	a Default pursuant to clause 6; or 

  

	 	(b)	the failure by Lessee to comply with this clause 5; or 

  

	 	(c)	any event which has had a Material Adverse Effect, 

 then, in any such event, Lessor shall have the right (but not the obligation) to terminate this Agreement by delivery of written notice of such termination to Lessee specifying, inter alia, the date on
which such termination is to be effective (such date, an “Early Termination Date” and the occurrence of such an event, an “Early Termination”) and demand the return of any Equipment leased to Lessee under this
Agreement; provided, however, that any Default under clause 6.1(f) shall constitute an automatic termination event without any need for Lessor to deliver written notice of such termination or demand and the Early Termination Date, in such
circumstances, shall occur on the date on which the Default under clause 6.1(f) occurs. 
  

	 	5.4.	Lessee may prepay its obligations under the Lease, on the terms set forth below: 

 

	 	(a)	Lessee shall provide sixty (60) days prior written notice of its intent to prepay under this clause 5.4 to Lessor, which notice shall set forth the date (the
“Prepayment Termination Date”) on which such termination shall be effective, which shall be no sooner than sixty (60) days after the date of such notice, and shall be irrevocable; 

 

	 	(b)	Lessee shall pay to Lessor the present value of the Consideration with respect to such Equipment calculated in accordance with clause 5.4(c) below; and

  

	 	(c)	The present value of the Consideration shall be calculated with a discount rate as follows: 

 

	 	(i)	If the Prepayment Termination Date is prior to the one-year anniversary of the Closing Date: 4%; 

  
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	 	(ii)	If the Prepayment Termination Date occurs in months thirteen (13) through twenty four (24): 18%; 

 

	 	(iii)	If the Prepayment Termination Date occurs after month twenty four (24): 23%. 

 

	6.	Default 

  

	 	6.1.	Any of the following events shall be a “Default”: 

  

	 	(a)	Lessee fails to pay any amount due pursuant to this Agreement, and such failure shall remain unremedied for five (5) days; 

 

	 	(b)	any representation or warranty made or deemed to be made by Lessee hereunder or under any certificate or notice provided in connection herewith shall be incorrect in
any material respect; provided that with respect to any representation or warranty that itself is qualified as to “materiality” or “Material Adverse Effect,” such representation or warranty shall be incorrect in any
respect; 

  

	 	(c)	Lessee shall make or permit any unauthorized assignment or transfer of this Agreement or any of Lessee’s rights and obligations hereunder, or Lessee shall make or
permit any unauthorized sublease or transfer of any Equipment or the possession of such Equipment; 

  

	 	(d)	Lessee shall breach in any manner any covenant or undertaking hereunder, or shall fail to perform or observe, in any respect, any other term or provision contained in
this Agreement and, to the extent capable of being remedied, such breach of covenant or failure to perform or observe shall remain unremedied for thirty (30) days (other than with respect clauses 6.1(a), 6.1(f), 6.1(i) and 8.2);

  

	 	(e)	 Lessee shall (1) dissolve or cease conducting business operations; (2) become insolvent or unable to pay its debts or fail or admit in
writing its inability generally to pay its debts as they become due; (3) make a general assignment, arrangement or composition with or for the benefit of its creditors; (4)(A) institute or have instituted against it, by a regulator,
supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or organization or the jurisdiction of its head or home office, a proceeding seeking a judgment of
insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or similar
official, or (B) have instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented
for its winding-up or liquidation, and such proceeding or petition is instituted or presented by a 

  
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Person or entity not described in clause (A) above and either (I) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its
winding-up or liquidation or (II) is not dismissed, discharged, stayed or restrained in each case within fifteen (15) days, or such other time period as may be agreed to by Lessor in its sole discretion provided Lessee is defending such
proceedings in good faith, of the institution or presentation thereof; (5) have a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); (6) seek or
becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; (7) have a secured party take possession of
all or substantially all its assets or have a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such
process is not dismissed, discharged, stayed or restrained, in each case within thirty (30) days thereafter; (8) cause or subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect
to any of the events specified in clauses (1) to (7) above (inclusive); or (9) take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts; 

 

	 	(f)	the occurrence of any loss, theft or destruction of, or damage to, any of the Equipment leased hereunder (other than ordinary wear and tear) that is not covered by a
policy of insurance under which Lessor has been named loss payee, or the occurrence of any attachment of a Lien on any of the Equipment leased hereunder which is not discharged within ten (10) days after Lessee first becomes aware of such
attachment; 

  

	 	(g)	the occurrence of a material default under any Insurance Agreements; 

  

	 	(h)	The Lessee shall fail at any time to maintain possession and control of the Equipment, or any of the Equipment shall be attached, levied upon, encumbered, pledged,
seized or taken under any judicial process (except for any attachment, levy, encumbrance or pledge caused to be placed on the Equipment by or at the direction of Lessor) and such proceedings shall not be vacated, or fully stayed, within ten
(10) days thereof; 

  

	 	(i)	Lessee shall suffer the loss, revocation or termination of any material license, permit, lease or agreement necessary to its business, fail to generally pay its debts
as they mature, or call a meeting for the purposes of compromising its debts; and 

  

	 	(j)	Lessee shall deny or disaffirm its obligations under this Agreement. 

  
 6 

	 	6.2.	Without prejudice to any other remedy at law or in equity, in the event of an Early Termination triggered by the default provisions set out in clause 6.1, Lessee shall
immediately pay to Lessor all reasonable and documented costs and expenses of physical recovery of the Equipment, including all collection and court costs (including reasonable and documented fees and expenses of outside counsel to Lessor; provided
that all documentation shall be subject to redaction for privilege, confidentiality and similar purposes). 

  

	 	6.3.	In addition to any rights and remedies of Lessor provided by law or hereunder and without prejudice to any other remedy at law or in equity of Lessor, upon the
occurrence and during the continuance of a Default, Lessor shall have the right, without prior notice to Lessee, any such notice being expressly waived by Lessee to the fullest extent permitted by law, to set off any amount due and payable hereunder
(including, without limitation, Lease Rent, Consideration or any indemnification obligation) and appropriate such amounts owed against any amounts then owing from Lessor to Lessee. 

 

	 	6.4.	Any amount due from Lessee to Lessor under this Agreement but not paid when due shall accrue a late charge, until paid in full, at the lesser of (i) the Late
Charge Rate until paid in full and (ii) the maximum amount permitted by applicable law. 

  

	7.	Representations and Warranties 

  

	 	7.1.	Lessor represents and warrants to Lessee that: 

  

	 	(a)	it has the power to enter into and exercise its rights and perform and comply with its obligations under each of the Operative Documents to which it is a party; and

  

	 	(b)	each of the Operative Documents to which it is a party is valid, legally binding and enforceable against Lessor, except as such enforceability may be limited by
(i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to creditors’ rights generally, and (ii) the availability of injunctive relief and other equitable remedies. 

 

	 	(c)	In the absence of a Default or the continuance of a Default, Lessor acknowledges that Lessee is entitled to the right of quiet enjoyment of the Equipment except as
provided in clause 8.2(b). 

  

	 	7.2.	Lessee represents and warrants to Lessor that: 

  

	 	(a)	it has the power and authority to own its assets and to conduct its business as presently conducted; 

 

	 	(b)	it has the power to enter into and exercise its rights and perform and comply with its obligations under each of the Operative Documents to which it is a party;

  
 7 

	 	(c)	it is (i) duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and (ii) qualified and in good standing
to do business wherever necessary to carry on its present business and operations, including in the jurisdictions where the Equipment and Facilities are located, except where the failure to be so qualified would not reasonably be expected to have a
Material Adverse Effect; 

  

	 	(d)	no vote or consent of, or similar action, or notice to, the holders of any class of stock or membership interests is required, or, if required, such vote or consent has
been obtained or given, to authorize the execution and performance by Lessee of the Operative Documents to which it is a party; 

  

	 	(e)	each of the Operative Documents to which it is a party is valid, legally binding and enforceable against it, except as such enforceability may be limited by
(i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to creditors’ rights generally or (ii) the availability of injunctive relief and other equitable remedies; 

 

	 	(f)	all actions required to be taken and conditions required to be fulfilled (including the obtaining of any necessary consents) have been taken or fulfilled in all
respects in order to enable it lawfully to enter into, exercise its rights and perform and comply with its obligations under each of the Operative Documents to which it is a party; 

 

	 	(g)	its entry into, exercise of its rights and/or performance of or compliance with its obligations under each of the Operative Documents to which it is a party do not and
will not violate: 

  

	 	(i)	any Requirement of Law; 

  

	 	(ii)	any of its organizational documents; 

  

	 	(iii)	any agreement to which it is a party or to which its properties are bound; or 

 

	 	(iv)	any judgment, court order or decree which is binding upon it; 

  

	 	(h)	no Default exists as result of or upon the Lessee’s entry into the Operative Documents. 

 

	 	(i)	Lessee has conveyed full legal and beneficial title to the Sold Equipment and on each Closing Date (as defined in the Sale and Purchase Agreement) will convey full
legal and beneficial title to the Additional Sold Equipment to Lessor, including, without limitation, pursuant to the Sale and Purchase Agreement, and, other than its lease interest in the Equipment, Lessee has no legal, equitable or other interest
in the Equipment; 

  

	 	(j)	Schedule 2 sets forth a full and complete list of the Sold Equipment; 

  
 8 

	 	(k)	no person (other than Lessor and Lessee, but only to the extent of Lessee’s lease interests hereunder) has any right, title or interest (including any Lien or
security interest) in the Sold Equipment and on each Closing Date (as defined the Sale and Purchase Agreement) no person (other than Lessor and Lessee , but only to the extent of Lessee’s lease interests hereunder) will have any right, title or
interest (including any Lien or security interest) in the Additional Sold Equipment; 

  

	 	(l)	except as disclosed in the Lessee’s public filings with the U.S. Securities and Exchange Commission or in a written disclosure schedule delivered by Lessee to
Lessor prior to the execution of this Lease, since December 31, 2011, no event has occurred that would reasonably be expected to have a Material Adverse Effect; 

 

	 	(m)	Lessee possesses any and all authorizations, certifications and licenses which are or may be required to operate its business and use the Sold Equipment and on each
Closing Date (as defined in the Sale and Purchase Agreement) will possess any and all authorizations, certifications and licenses which are or may be required to use the Additional Sold Equipment, except to the extent that the failure to possess the
same could not, in the aggregate, reasonably be expected to have a Material Adverse Effect; 

  

	 	(n)	Each of the consolidated financial statements of the Lessee provided to the Lessor any notes thereto, have been prepared in accordance with GAAP on a consistent basis
throughout the periods indicated and each fairly presents or will fairly present, in all material respects, the consolidated financial position, results of operations and cash flows of the Lessor and its consolidated Subsidiaries as at the
respective dates thereof and for the respective periods indicated therein (subject, in the case of unaudited financial statements, to normal and recurring year-end adjustments); 

 

	 	(o)	the historical statements of fact specific to Lessee’s products and services contained in the presentation provided to Lessor (the “Presentation”) is
true and correct in all material respects and there have been no subsequent developments rendering any such historical information specific to Lessee’s products and services in the Presentation supplied by Lessee to Lessor inaccurate or
incorrect; 

  

	 	(p)	Lessee is in compliance with all Requirements of Law except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be expected to
have a Material Adverse Effect; 

  
 9 

	 	(q)	except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect: 

 

	 	(i)	the facilities and properties owned or leased and operated by Lessee or any of its Subsidiaries including without limitation, the Facilities and Locations (the
“Properties”) do not contain any Materials of Environmental Concern in amounts or concentrations or under circumstances that constitute or constituted a violation of, or could give rise to liability under, any Environmental Law;

  

	 	(ii)	neither Lessee or any of its Subsidiaries has received or is aware of any notice of violation, alleged violation, non-compliance, liability or potential liability
regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated by Lessee or any of its Subsidiaries (the “Business”), nor does Lessee have knowledge or reason to
believe that any such notice will be received or is being threatened; 

  

	 	(iii)	Materials of Environmental Concern have not been transported or disposed of from the Properties in violation of, or in a manner or to a location that could give rise to
liability under, any Environmental Law, nor have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the Properties in violation of, or in a manner that could give rise to liability under, any
applicable Environmental Law; 

  

	 	(iv)	no judicial proceeding or governmental or administrative action is pending or, to the knowledge of Lessee, threatened, under any Environmental Law to which Lessee or
any of its Subsidiaries is or will be named as a party with respect to the Properties or the Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial
requirements outstanding under any Environmental Law with respect to the Properties or the Business; 

  

	 	(v)	there has been no release or threat of release of Materials of Environmental Concern at or from the Properties, or arising from or related to the operations of Lessee
or any of its Subsidiaries in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts or in a manner that could give rise to liability under Environmental Laws; 

 

	 	(vi)	the Properties and all operations at the Properties are in compliance, and have in the last five years been in compliance, with all applicable Environmental Laws, and
there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to the Properties or the Business; and 

  

	 	(vii)	neither Lessee or any of its Subsidiaries has assumed any liability of any other Person under Environmental Laws. 

  
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	 	(r)	subject to the terms of clause 10, this Agreement, together with such filings and other actions required to be taken hereby, creates in favor of Lessor a legal, valid
and enforceable first priority Lien in the Specified Assets (as defined below); and 

  

	 	(s)	there are no suits or proceedings pending or threatened before any court, government agency or arbitrator, which, if determined adversely to Lessee would have a
Material Adverse Effect. 

  

	 	7.3.	Lessee acknowledges Lessor has given no warranty or any assurance whatsoever relating to the quality, fitness for any purpose or relating in any way to the performance
of the Equipment. 

 LESSOR DISCLAIMS ALL WARRANTIES RELATING TO THE EQUIPMENT, INCLUDING BUT NOT LIMITED TO
IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. AND IN NO EVENT WILL LESSOR BE LIABLE FOR INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR SPECIAL DAMAGES OR DIRECT OR INDIRECT LOSS OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOST
INCOME, LOST SALES, PROPERTY DAMAGE AND PERSONAL INJURY. 
  

	8.	Covenants 

  

	 	8.1.	Lessor Covenant of Quiet Enjoyment 

 In the absence of a Default or the continuance of a Default, Lessor agrees to permit Lessee the right of quiet enjoyment of the Equipment except as provided in clause 8.2(b). 

 

	 	8.2.	Lessee Affirmative Covenants. 

 Lessee covenants that it shall: 
  

	 	(a)	(i) on the tenth calendar day of each calendar quarter (or, if such day is not a Business Day, on the next Business Day) and (ii) upon the occurrence and during
the continuance of a Default, upon Lessor’s demand, provide Lessor with updated Schedules of the Equipment, certified by a Responsible Officer, and shall promptly inform Lessor of any damage to or loss of Equipment (except for ordinary wear and
tear). 

  

	 	(b)	 (1) Permit Lessor, or agents or representatives of Lessor, during normal business hours and upon reasonable notice (except upon the occurrence of and
continuance of a Default, in which case at any time) to, no more than once per month (or any time upon the occurrence and continuance of a Default), (i) audit the Equipment, either through an inspection or through

  
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any other means at Lessor’s sole discretion (including, without limitation, Lessee’s preparation of abstracts and discussions between Lessor and Lessee’s senior management); and
(ii) inspect any Equipment or Lessee’s books and records, solely as they relate to such Equipment (it being understood and agreed that Lessee shall make and deliver to Lessor abstracts or reproductions of such portions of such books and
records promptly upon Lessor’s reasonable request) (collectively, the “Equipment Information”). All audits and inspections shall be at Lessor’s reasonable cost and expense, unless such audit and inspection occurs during
the continuance of a Default, in which case it shall be at Lessee’s expense. (2) Lessor may conduct such audits or inspections at any Location or Facility where Equipment Information may be stored, used or otherwise housed. Lessor agrees
that, except during the occurrence of a Default, it shall keep confidential, and shall cause its agents and representatives to keep confidential, and shall not, and shall not permit its agents or representatives to, directly or indirectly, without
the prior written consent of Lessee, disclose to any third party or otherwise any Equipment Information except: (i) to the extent the Equipment Information is already in the public domain other than as a result of a disclosure by Lessor or its
Affiliates in violation of this clause; or (ii) to the extent reasonably required, to the Lessor’s directors, agents, officers and employees; or (iii) to the extent reasonably required, to its professional advisers; or (iv) as
may be required by any applicable law, court, stock exchange, regulation or regulator provided that, Lessor shall notify Lessee of any required disclosure under this sub-section (iv) and Lessee shall have the reasonable opportunity to dispute
such required disclosure, and Lessor shall cooperate to the extent reasonably practicable with such disputation. Lessor shall not have a duty to make any audits or inspections nor shall it incur any liability or obligation by reason of making or not
making any audits or inspections. 

  

	 	(c)	(1) Maintain its corporate existence, (2) comply in all material respects with all Requirements of Law and pay when due all sales, use, property, excise and other
taxes and (3) procure and maintain in effect all licenses, certificates, permits and other approvals and consents as required by any Requirements of Law and that are material to Lessee’s possession, use, operation and maintenance of the
Equipment. 

  

	 	(d)	Until such time as the Equipment is returned, recovered or repossessed to Lessor or purchased by Lessee, in each case in accordance with this Agreement, afford the
Equipment no less safekeeping protection than it affords its own property. 

  

	 	(e)	 Procure and maintain insurance coverage reasonably satisfactory to Lessor for the Equipment in such amounts and covering such risks as is usually
carried by companies engaged in a similar business. Lessee shall provide Lessor with a certificate evidencing such insurance, naming Lessor as 

  
 12 

	 	
additional insured and loss payee. Lessee shall provide Lessor (x) at least thirty (30) days prior written notice of Lessee’s termination of any such insurance and (y) written
notice of cancellation of any such insurance policy within two (2) Business Days of receipt of notice of cancellation of any applicable insurance policy. Lessee shall be responsible for all loss, damage, or disappearance of the Equipment from
any cause whatsoever from the time each item of Equipment is made available to Lessee at the Facilities until the Lease is settled in accordance with clause 5.2 of this Agreement. If Lessee fails to procure or maintain insurance in compliance with
this Agreement, Lessor will be entitled but not bound (without prejudice to any other rights of Lessor under this Agreement) to procure and/or maintain (including, without limitation, by payment of the premiums due or to effect) such insurances, or
otherwise remedy Lessee’s failure to do so (including, without limitation to effect and maintain an “owner’s interest” policy) as it considers appropriate and Lessee shall promptly pay upon demand, all expenses associated with
such insurance obtained by Lessor. 

  

	 	(f)	Furnish to Lessor: 

  

	 	(i)	as soon as available, but in any event within 120 days after the end of each fiscal year of Lessee, (A) a copy of the consolidated balance sheet of Lessee and its
consolidated subsidiaries as at the end of such year and the related consolidated statements of income and of cash flows for such year, audited and certified (without qualification) by a firm of independent certified public accountants of nationally
recognized standing selected by Lessee and reasonably acceptable to Lessor and set forth in each case in comparative form the figures for the previous year; and (B) management’s discussion and analysis of the important operational and
financial developments during such fiscal year; and 

  

	 	(ii)	as soon as available, but in any event not later than 60 days after the end of each fiscal quarter of Lessee, (A) the unaudited consolidated balance sheet of
Lessee and its consolidated subsidiaries as at the end of such quarter and the related unaudited consolidated statements of income and of cash flows for such quarter and the portion of the fiscal year through the end of such quarter, setting forth
in each case in comparative form the figures for the previous fiscal year, certified by a Responsible Officer as being prepared in accordance with GAAP and fairly presenting the financial position and results of operations for such quarter and
period (subject to normal year-end audit adjustments and absence of footnotes); and (B) management’s discussion and analysis of the important operational and financial developments during such fiscal quarter. 

  
 13 

 All such financial statements furnished pursuant to this 8.2(f) shall be
prepared in accordance with GAAP, and shall fairly present, in all material respects, Lessee’s and its applicable consolidated subsidiaries’ financial condition and results of operations at the dates of and for the periods covered by such
statements. In addition, Lessee may satisfy its obligations under this clause 8.2(f) by filing periodic reports under the Securities Exchange Act of 1934, provided that such reports conform in timing and content to the requirements of this clause
8.2(f). Lessee’s obligation to furnish the information described in (i) and (ii) shall be satisfied upon its EDGAR filing of such information with the U.S. Securities and Exchange Commission. 

 

	 	(g)	At the time of the delivery of the financial statements provided for in clause 8.2(f)(ii), a compliance certificate from a Responsible Officer of Lessee certifying on
behalf of Lessee that, to such Responsible Officer’s knowledge after due inquiry, no Default has occurred and is continuing or, if any Default has occurred and is continuing, specifying the nature and extent thereof. 

 

	 	(h)	Promptly after Lessee’s obtaining knowledge thereof, give notice to Lessor of the occurrence of any Default. Each notice pursuant to this clause 8.2(i) shall be
accompanied by a statement of a Responsible Officer setting forth details of the occurrence referred to therein and stating what action Lessee (or any applicable Subsidiary thereof) proposes to take with respect thereto. 

 

	 	(i)	Defend Lessor’s interest in the Equipment from any Liens, claims or demands of any Person at any time claiming the same or any interest therein.

  

	 	8.3.	Lessee Negative Covenants. Lessee covenants that it shall not, without Lessor’s prior written consent: 

 

	 	(a)	enter into any lease, financing, security or other agreement with any third party for the Equipment unless such agreement is expressly contemplated hereby;

  

	 	(b)	take any action in relation to the Equipment which would or might interfere with Lessor’s absolute and unencumbered title in the Equipment or restrict
Lessor’s ability to regain possession of the Equipment; 

  

	 	(c)	create or permit the creation of any Lien of any kind with respect to any Equipment other than the Lien created hereunder; 

 

	 	(d)	other than any interests created by Lessee in favor of Lessor, at no time shall Lessee have, or have the ability to create in favor of any third party, any property or
other interest in the Equipment or otherwise dispose of or encumber any of the Equipment until the Lease has been settled in accordance with clause 5.2; 

  
 14 

	 	(e)	permit the Equipment to be used or maintained in any manner or condition that would violate, or could result in the termination of, the insurance policies carried by
Lessee pursuant to the provisions of this Agreement; or 

  

	 	(f)	without the prior written consent of Lessor, make any alterations, additions or improvements to the Equipment, or alter any serial numbers or other identifying markings
thereon. 

  

	9.	Conditions Precedent 

 The
effectiveness of this Agreement is subject to the satisfaction or, as to the conditions applicable to Lessee described in (b) through (g)) below, waiver by Lessor of each of the following conditions precedent, except as otherwise agreed between
Lessor and Lessee: 
  

	 	(a)	Funding of Escrow Account. Lessor shall have funded, or shall have caused to be funded, the Escrow Account with funds in the amount of TWO MILLION, FIVE HUNDRED
THIRTY SEVEN THOUSAND, TWO HUNDRED AND NINE DOLLARS ($2,537,209.00) on terms satisfactory to Lessee, to hold the purchase price for the Additional Equipment and Buyer-Purchased Equipment in escrow pending application to fund the acquisition of the
Additional Equipment and Buyer-Purchased Equipment. 

  

	 	(b)	Certain Documents. Lessor shall have received each of the following, each dated as of the date hereof unless otherwise indicated or agreed to by Lessor, in form
and substance reasonably satisfactory to Lessor: 

  

	 	(i)	this Agreement, duly executed and delivered by Lessee; 

  

	 	(ii)	an opinion of in-house counsel to Lessee, in form and substance reasonably satisfactory to the Lessor; 

 

	 	(iii)	a “long form” good standing certificate for Lessee of a recent date provided by the Secretary of State of Delaware; 

 

	 	(iv)	a certificate of the Secretary or an Assistant Secretary of Lessee certifying (A) the names and true signatures of each officer of Lessee that has been authorized
to execute and deliver this Agreement or other document required hereunder to be executed and delivered by or on behalf of Lessee, (B) a copy of the certificate of incorporation of Lessee (and all amendments thereto) as in effect on the date of
such certification; (C) the by-laws (or equivalent organic or organizational document) of Lessee as in effect on the date of such certification, and (D) the resolutions of Lessee’s board of directors approving and authorizing the
execution, delivery and performance of this Agreement; and 

  

	 	(v)	(a) a waiver from Bridge Bank, waiving any Lien in respect of the Equipment and the Escrow Account in form and substance satisfactory to Lessor, duly executed and
delivered to Lessor and there shall have been filed an appropriate UCC statement to release any Lien in favor of Bridge Bank and (b) the Agreement in Support of Development Program between Lessee and General Motors Holdings LLC dated as
February 11, 2011, as amended (the “GM Agreement”), has terminated as to the Hydrogen Program (as defined in the GM Agreement), except for those provisions that expressly survive termination, and there shall have been filed by General
Motors Holdings LLC appropriate UCC statements to release any Lien in favor of General Motors Holdings LLC. 

  
 15 

	 	(c)	Representations and Warranties. The representations and warranties set forth in clause 7 shall be true and correct in all material respects on and as of the date
hereof with the same effect as though made on and as of such date, except (i) to the extent that such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in
all material respects as of such earlier date and (ii) any representation and warranty that itself is qualified as to “materiality” or “Material Adverse Effect” shall be true and correct in all respects.

  

	 	(d)	No Legal Impediments. Neither entry into this Agreement nor the leasing of the Equipment on the terms and conditions of this Agreement (x) violate any
Requirement of Law or (y) are enjoined, temporarily, preliminarily or permanently by any Governmental Authority. 

  

	 	(e)	Deposit. The deposit required under the Indicative Term Sheet shall have been paid by Lessee to Lessor. 

 

	 	(f)	No Event of Default. No Event of Default or potential Event of Default shall have occurred and be continuing. 

 

	 	(g)	No Material Adverse Change. There shall have been no material adverse change in the business, assets, properties, liabilities (actual or contingent), operations,
condition (financial or otherwise) or prospects, of the Lessee, individually, or of the Lessee and its Subsidiaries taken as a whole (a “Material Adverse Change”). 

 

	10.	Equipment Security Interest Grant; Change in Tax Law; Pledge of Equipment and Accounts 

 

	 	10.1.	 Lessee and Lessor acknowledge and agree that Lessee will not own or have any equity in any of the Equipment under any circumstances whatsoever, and
Lessee will keep and treat the Equipment as removable personal property notwithstanding it being attached to real property or any fixture. Lessee hereby 

  
 16 

	 	
grants Lessor a valid, first priority Lien and security interest in (whether now owned or at any time hereafter acquired by Lessee or in which Lessee now has or at any time in the future may
acquire) any right, title or interests of Lessee in and to (i) the Equipment; (ii) the Escrow Account; (iii) procedural and operating manuals or materials, warranties and instructions related to the Equipment; and (iv) all
products and proceeds of the foregoing (the “Specified Assets”), as security for the payment and performance in full of all of Lessee’s obligations under the Operative Documents (including, without limitation, any
Consideration, Lease Rent, fees, late charges and interest payable hereunder after the filing of a petition under the Bankruptcy Code, whether or not such Consideration, Lease Rent, fees, late charges and interest are allowed in the bankruptcy
proceeding (collectively, “Post-Petition Amounts”)). Such Lien shall remain in full force and effect until, and shall terminate upon, indefeasible payment and performance in full of all of such obligations (including, without
limitation, any Post-Petition Amounts). Lessee agrees to promptly execute and deliver, and hereby authorizes Lessor to file without Lessee’s signature (to the extent permitted by applicable law), all further instruments and documents as Lessor
may reasonably request, in order to perfect, preserve and protect the Lien granted hereby or to enable Lessor to exercise and enforce its rights and remedies hereunder with respect to such Lien, including financing or continuation statements,
clarifications or amendments thereto. If any Default by Lessee of its obligations under this Agreement shall have occurred and be continuing, Lessor may exercise in respect of such Lien, in addition to other rights and remedies provided for herein
or otherwise available to it, all the rights and remedies of a secured party under the Bankruptcy Code or under the Uniform Commercial Code, as enacted in the State of New York (the “UCC”), including, without limitation, exercising
its control over any “account” (as such term is defined in the UCC), and without notice except as specified below or, if notice cannot be waived under the UCC, as required to be provided by the UCC, sell the collateral that is the subject
of the Lien or any part thereof in one or more parcels at public or private sale, at any of Lessor’s offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as Lessor may deem commercially reasonable.

  

	 	10.2.	Lessor and Lessee agree that for the duration of this Agreement, if after the date hereof a change in tax law occurs adversely affecting the tax treatment of the lease
transactions contained herein, Lessor and Lessee agree that they shall cooperate in optimizing the structure of this Agreement to minimize taxes payable by Lessor and Lessee as permissible by applicable law to the mutual benefit of Lessor and
Lessee, including such changes or permissible restructurings as may be beneficial to Lessor and Lessee in execution of their Tax Obligations hereunder and excluding changes that would be prejudicial to either Lessor or Lessee.

  

	 	10.3.	Lessor and Lessee agree that Lessor shall have the right to pledge as collateral, create a Lien upon, and otherwise create a security interest with respect to the
Equipment, the Accounts and the proceeds therefrom to one or more third parties from time to time, in each case without notice to, or permission from, the Lessee. 

  
 17 

	11.	Force Majeure 

 If the
performance of any obligation under this Agreement is prevented by an event beyond the control and without the fault or negligence of the Party affected thereby including acts of God; acts, laws, orders or regulations or any government or department
or agency thereof; wars or other civil or military disturbances, such Party will be excused from such performance to the extent of the duration of such interference or the direct effects thereof; provided, however, that the duration of any such
period in which such Party will be excused from performance will not exceed one (1) month and provided further that Lessee shall continue to pay the Lease Rent on Equipment previously delivered by Lessor to Lessee. If this period of one month
is exceeded, then Lessor and Lessee will meet in order to decide whether and under what condition this Agreement can be performed. 
  

	12.	Indemnities 

 Lessee shall
upon notice by Lessor indemnify in full and hold harmless, Lessor, its officers, employees, agents, advisors, consultants and legal counsel and Lessor’s successors and assigns, (each an “Indemnified Person”) from and against
any and all claims (whether or not successful, compromised or settled), actions, liabilities, demands, proceedings or judgments which may be instituted, made, threatened, alleged, asserted or established (each a “Claim”) in any
jurisdiction against or otherwise involving an Indemnified Person and from all losses, costs, damages, charges or out-of-pocket expenses (including reasonable and documented fees and expenses of outside counsel; provided that all documentation shall
be subject to redaction for privilege, confidentiality and similar purposes) (each an “Expense”) which an Indemnified Person suffers or incurs from time to time (including all Expenses reasonably incurred in disputing any Claim
and/or in establishing a right to be indemnified pursuant to this clause 12 and/or in seeking advice regarding any Claim or in any way related to or in connection with this indemnity), in any such case arising out of Lessee’s performance
herewith or under any Operative Document, including, without limitation, the purchase, ownership, delivery, lease, possession, maintenance, condition, operation or other use or return of the Equipment, the operation of Lessee’s business, or any
Tax Obligations; provided that Lessee shall not be required to indemnify any Indemnified Person pursuant to this clause 14 if, but only to the extent that, it is determined by final order of a court of competent jurisdiction that such Claims and
Expenses were the result of such Indemnified Person’s breach of this Agreement, gross negligence or willful misconduct. For the sake of clarity and except as otherwise expressly stated herein, it is the intention of Lessee under this clause 12
to indemnify the Indemnified Persons from all Claims brought by Lessee, any successor in interest of Lessee or any Person, whether acting on its own behalf or acting on behalf of Lessee, or asserting a Claim through Lessee against an Indemnified
Person and all Expenses related thereto. 
 Unless otherwise agreed, Lessee will be the party directly responsible for
calculating, filing and/or otherwise reporting, and paying any and all Tax Obligations indemnified under this clause 12 (but only to the extent such indemnified Tax Obligations are or should with reasonable care be known to Lessee or with respect to
which Lessor has 

  
 18 

 
notified Lessee in writing) in a timely manner that is compliant with all applicable tax laws and rules including but not limited to any and all tax or tax related returns, reports, self
assessments, renditions or other documents required or associated with any taxes that may be due pursuant to this Agreement and any Lease, any transactions and/or any payments associated with or contemplated hereby. For the avoidance of doubt,
nothing in this paragraph shall affect Lessee’s obligation to indemnify Lessor pursuant to the first paragraph of this clause 12. 
 Lessee shall provide any exemption certificate or other documentation necessary to demonstrate that no tax is due or that said tax has been paid to the Lessor’s notice address set forth in clause 19
within fifteen (15) days of receiving a request from Lessor for same. 
 Lessor is a “United States person” (as
defined in Section 7701(2)(30) of the Internal Revenue Code) and it shall deliver to Lessee two original copies of Internal Revenue Service Form W-9 properly completed and duly executed by such Lessor, certifying that such Lessor is not subject
to U.S. back-up withholding pursuant to Section 3406 of the Internal Revenue Code and providing such other information as is required by such Form W-9. 
  

	13.	Limitation of Liability 

In no event shall Lessor be responsible or liable to Lessee for any damages of any nature whatsoever (including, without limitation, any
special, indirect, incidental, punitive, exemplary or consequential damages or any damages incurred as a result of loss of use, loss of profits or revenue, interest charges or cost of capital), whether such claim is based in contract, warranty,
negligence or strict liability, arising out of, based upon or in connection with, whether directly or indirectly (a) the operation of Lessee’s business including the operation or any other use of any Equipment or (b) any actions taken
in respect of the Equipment; provided that the limitation of liability in this clause shall not apply if it is determined by final order of a court of competent jurisdiction or a Tribunal that Lessee’s damages were the result of Lessor’s
breach of this Agreement, gross negligence or willful misconduct. 
  

	14.	Further Assurances 

Lessee shall promptly and duly execute and deliver to Lessor such further documents and assurances and take such further action as may
from time to time be reasonably requested in order to more effectively carry out the intent and purposes of this Agreement. 
  

	15.	Entire Agreement 

 This
Agreement embodies the entire agreement and understanding of Lessor and Lessee with respect to the subject matter hereof and supersedes all prior or contemporaneous agreements and understandings of Lessor or Lessee, verbal or written, relating to
the subject matter hereof. 

  
 19 

	16.	Amendments 

 This
Agreement may be amended only in writing, signed by each Party. 
  

	17.	Notices; Lessee Agent for Service of Process 

 All notices hereunder shall be in writing and deemed given when received (by mail or facsimile) at the respective Parties’ address set forth below: 

To Lessor: 

Amur Finance I LLC. 
 50 Main Street, Suite 1265 
 White Plains, NY 10606 

Telephone: (212) 893-8836 
 Facsimile: (212) 893-8837 
 Attention: Alison A. Mason, Managing Director With a
copy to: 
 Hughes Hubbard & Reed LLP 
 One Battery Park Plaza 
 New York, New York 10004 

Attention: Andrew F. Fowler 
 Telephone: (212) 837-6738 
 Facsimile: (212) 299-6855 

To Lessee: 

Quantum Fuel Systems Technologies Worldwide, Inc. 
 25242 Arctic Ocean Drive, Lake Forest, CA 92630 
 Telephone: (949) 930-3400

 Fax: (949) 399-4567 
 Attention: Brad Timon 
 With a copy to: 

Kenneth Lombardo, General Counsel 
 19500 Hall Road, Suite 102, Clinton Township, MI 48038 
 Telephone: (586) 948-9534

 Facsimile: (586) 948-9537 
 Each Party’s designated address may be changed by written notice to the other Party which shall be effective upon receipt. 
 The agent for service of process of Lessee shall be: 
 Quantum Fuel Systems
Technologies Worldwide, Inc. 
 25242 Arctic Ocean Drive, Lake Forest, CA 92630 

Telephone: (949) 930-3400 
 Facsimile: (949) 399-4567 
 Attention: W. Brian Olson 

  
 20 

	18.	Assignment and Transfer 

Without Lessor’s prior written consent, Lessee may not assign, transfer or dispose of any of its rights or delegate its obligations
in any way under this Agreement or any Lease. Any transfer of or lease, financing, security or other agreement in relation to any Equipment which is not explicitly permitted under the terms of this Agreement shall be deemed void ab initio and of no
force and effect. 
  

	19.	Jurisdiction 

  

	 	(a)	Each of the parties hereto agrees that the United States federal and New York State courts located in The City of New York shall have jurisdiction to hear and determine
any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with this Agreement and, for such purposes, submits to the jurisdiction of such courts. Each of the parties hereto waives any objection which it
might now or hereafter have to the United States federal or New York State courts located in The City of New York being nominated as the forum to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of
or in connection with this Agreement and agrees not to claim that any such court is not a convenient or appropriate forum. Each of the parties hereto agrees that the process by which any suit, action or proceeding is begun may be served on it by
being delivered in connection with any suit, action or proceeding in The City of New York to the Person named as the process agent of such party herein at the address set out herein or at the principal New York City office of such process agent, if
not the same. 

  

	 	(b)	The submission to the jurisdiction of the courts referred to in Section 19(a) shall not (and shall not be construed so as to) limit the right of the Lessor to take
proceedings against Lessee in any other court of competent jurisdiction nor shall the taking of proceedings in any one or more jurisdictions preclude the taking of proceedings in any other jurisdiction, whether concurrently or not.

  

	 	(c)	Each of the parties hereto hereby consents generally in respect of any legal action or proceeding arising out of or in connection with this Indenture to the giving of
any relief or the issue of any process in connection with such action or proceeding, including the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which may be made
or given in such action or proceeding. 

  
 21 

	20.	Expenses 

 Upon the
occurrence and continuance of a Default, Lessee will pay to Lessor promptly following demand all reasonable and documented expenses (including reasonable and documented fees and expenses of attorneys, financial advisors, auditors, appraisers and
inspectors; provided that all documentation shall be subject to redaction for privilege, confidentiality and similar purposes) related to (a) maintenance and the enforcement of the rights of the Lessor hereunder, including without limitation
the security interest and Lien in favor of Lessor, and/or (b) any amendment to or extension of any other documentation in connection with, or the granting of any waiver or consent under or pursuant to this Agreement. 

 

	21.	Governing Law 

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

	22.	Confidentiality; Mutual Non-Disclosure Agreement 

 The confidential information to be disclosed under this Agreement (“Confidential Information”) includes: Technical and business information relating to proprietary ideas, patentable ideas and/or
trade secrets, all information existing and/or contemplated products and services, research and development, production, costs, profit and margin information, finances and financial projections, customers, clients, marketing, and current or future
business plans and models, and all other information disclosed by one party hereunder to the other in connection with the negotiation or performance of this Agreement (including without limitation information concerning the Equipment), regardless of
whether such information is designated as “Confidential Information” at the time of its disclosure. 
 In addition to
the above, Confidential Information shall also include, and the parties shall have a duty to protect, other confidential and/or sensitive information which is (a) disclosed as such in writing and marked as confidential (or with other similar
designation) at the time of disclosure; and/or (b) disclosed by in any other manner and identified as confidential at the time of disclosure. 
 Each party shall limit disclosure of Confidential Information within its own organization to its directors, officers, partners, members and/or employees having a need to know and shall not disclose
Confidential Information to any third party other than its attorneys, accountants or other professional advisers (whether an individual, corporation, or other entity) without prior written consent unless disclosure is required pursuant to a court
order or statutory duty (including under any applicable law, or as ordered by a court, stock exchange, regulation or regulator), in which case the last paragraph of this clause 22 will apply. Each party shall satisfy its obligations under this
paragraph if it takes affirmative measures to ensure compliance with these confidentiality obligations by its employees, agents, consultants and others who are permitted access to or use of the Confidential Information. 

  
 22 

 This clause imposes no obligation upon the parties with respect to any Confidential
Information (a) that was possessed by the receiving party before receipt from the other party; (b) is or becomes a matter of public knowledge through no fault of receiving party; (c) is rightfully received from a third party not owing
a duty of confidentiality; (d) is disclosed without a written duty of confidentiality to a third party by, or with the authorization of the disclosing party; or (e) is independently developed without the use or incorporation of
Confidential Information. 
 In case Confidential Information is required to be disclosed by a party by virtue of a court order
or statutory duty, the party shall be allowed to do so, provided that it shall, without delay, inform the other party in writing of receipt of such order or coming into existence of such duty and enable the other party reasonably to seek protection
against such order or duty. Notwithstanding such permitted disclosure, the Confidential Information required to be disclosed shall remain Confidential Information. 
 Lessor acknowledges that Lessee is a publicly traded company and that the Confidential Information that will be furnished to it hereunder may include material, non-public information of the Lessee. Lessor
further acknowledges and agrees that (i) trading in the Lessee’s securities while in possession of such material, non-public information is a violation of both federal and state securities laws, (ii) Lessee has not promised or agreed
to publicly disclosure such material, nonpublic information (other than public disclosure of the transactions contemplated by this Agreement to the extent required by the rules and regulations of the U.S. Securities and Exchange Commission or The
Nasdaq Stock Market) and (iii) the Lessor’s ability to trade in the Lessee’s securities may be restricted for an indefinite period of time. Lessor covenants that neither it nor any party acting on its behalf or pursuant to any
understanding with it will engage in any trading in the securities of the Lessee (including Short Sales) while in possession of any material, nonpublic information pertaining to the Lessee. For purposes hereof, “Short Sales” means all
“short sales” as defined in Rule 200 promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and
similar arrangements (including on a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers. Lessor shall refrain from communicating any such material, non-public information to any other
person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell securities of the Lessee in reliance upon such information. 

 

	23.	Counterparts 

 This
Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one
and the same instrument. A set of the copies of this Agreement signed by all the parties shall be lodged with Lessee and Lessor. 

  
 23 

	24.	Survival after Termination Date 

 Upon the payment in full, in cash of all obligations under this Agreement and the Leases and the irrevocable termination of all of Lessor’s obligations hereunder and under any Lease, the following
clauses of this Agreement shall survive: 7.3, 8.2(b)(II), 12, 13, 20, and 22. 
 [SIGNATURES FOLLOW] 

  
 24 

 IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their
duly authorized representative as of the date first above written. 
  

			
	AMUR FINANCE I LLC
	as Lessor
		
	By:	 	 /s/ Alison Mason

		
	Name:	 	Alison Mason
	Position:	 	Managing Director
	
	 QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC.
 as Lessee

		
	By:	 	 /s/ Brad Timon

		
	Name:	 	Brad Timon
	Position:	 	CFO

  
 25 

 Schedule 1 
 Definitions 
 “Additional Equipment” has the meaning set forth in the
recitals to this Agreement. 
 “Additional Sold Equipment Purchase Price” has the meaning given to that term in the Sale and
Purchase Agreement. 
 “Affiliate” means as to any Person, any other Person that, directly or indirectly, is in control of, is
controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either to (a) vote 10% or more of the securities having ordinary voting power
for the election of directors (or persons performing similar functions) of such Person or (b) direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. 

“After-Tax Basis” means, with respect to any amount actually or constructively payable to any Person under the Operative Documents (a
“pre-tax payment”), an amount which, after taking into account all taxes required to be paid by the Person entitled to such pre-tax payment as the result of the receipt or accrual of that payment (computed on the basis of the statutory
rates of tax applicable to such Person at the relevant time, and taking into account all tax benefits or savings then available to such Person as a result of such payment, whether or not such Person actually claims any such items) shall be equal to
the full amount of the pre-tax payment. 
 “Bankruptcy Code” means Title 11 of the United States Code. 

“Business” has the meaning set forth in clause 7.2(r)(ii). 
 “Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to close. 

“Buyer-Purchased Equipment” has the meaning given to that term in the Sale and Purchase Agreement. 

“Buyer-Purchased Equipment Purchase Price” has the meaning given to that term in the Sale and Purchase Agreement. 

“Claim” has the meaning set forth in clause 12. 
 “Closing Date” has the meaning set forth in the introductory paragraph to this Agreement. 
 “Collection Account” has the meaning set forth in clause 3.1. 

“Consideration” has the meaning set forth in clause 5.2. 
 “Default” means any event or circumstance specified in clause 6. 
 “Early
Termination” has the meaning set forth in clause 5.3. 
 “Early Termination Date” has the meaning set forth in clause
5.3. 
 “Environmental Laws” means any and all foreign, federal, state, local or municipal laws, rules, orders, regulations,
statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning protection of human health or the
environment, as now or may at any time hereafter be in effect. 

 “Equipment” has the meaning set forth in the recitals to this Agreement. 

“Equipment Information” has the meaning set forth in clause 8.2(b). 
 “Escrow Account” means the escrow account (account number                     )
established to hold the purchase price for the Additional Equipment and Buyer-Purchased Equipment in escrow pending application to fund the acquisition of the Additional Equipment. 
 “Excluded Taxes” means taxes which are on or measured by the net income of Lessor (except with respect to any indemnification or reimbursement obligation of Lessee hereunder which is
expressly stated to be on an After-Tax Basis). 
 “Expense” has the meaning set forth in clause 12. 

“Facilities” means Lessee’s three buildings located at 25242 Arctic Ocean Drive, Lake Forest, CA 92630, each individually a
“Facility.” 
 “GAAP” means generally accepted accounting principles in the United States as in effect from
time to time. In the event that any “Accounting Change” (as defined below) shall occur and such change results in a change in the method of calculation of financial covenants or otherwise impacts compliance with any provision of this
Agreement or any Lease, then, if requested in writing by Lessee to Lessor, Lessee and Lessor agree to enter into negotiations in order to amend such provisions of this Agreement so as to reflect equitably such Accounting Changes with the desired
result that the criteria for evaluating Lessee’s and its Subsidiaries’ financial condition shall be the same after such Accounting Changes as if such Accounting Changes had not been made. Until such time as such an amendment shall have
been executed and delivered by Lessor and Lessee, all financial covenants, standards and terms in this Agreement shall continue to be calculated or construed as if such Accounting Changes had not occurred. “Accounting Changes” refers to
changes in accounting principles required by the promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants or, if applicable, the Securities
and Exchange Commission. 
 “Governmental Authority” means any nation or government, any state or other political subdivision
thereof, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to government, any securities exchange
and any self-regulatory organization (including the National Association of Insurance Commissioners). 
 “Indemnified Person”
has the meaning set forth in clause 12. 
 “Insurance Agreements” means any insurance policy or policies in respect of the
Equipment as required by clause 8.2(e). 
 “Late Charge Rate” means 500 basis points per annum payable monthly. 

“Lease Agreement” means this Agreement. 

  
 2 

 “Lease Expiration Date” means the third anniversary of the Closing Date. 

“Lease Period” means the meaning set forth in clause 2.1. 
 “Lease Rent” has the meaning set forth in clause 3.1. 
 “Lessee”
has the meaning set forth in the introductory paragraph to this Agreement. 
 “Lessor” has the meaning set forth in the
introductory paragraph to this Agreement. 
 “Lien” means any mortgage, pledge, hypothecation, right of others, claim, security
interest, encumbrance, adverse claim or interest, easement, covenant, encroachment, servitude, option, lien, put or call right, right of first refusal, voting right, charge or other restrictions or limitations of any nature whatsoever. 

“Location” means the Facilities where Lessor delivers or is deemed to have delivered the Equipment to Lessee. 

“Material Adverse Change” has the meaning set forth in clause 9(g). 
 “Material Adverse Effect” means a material adverse effect on (a) the business, assets (actual or contingent), properties, operations, liabilities, condition (financial or otherwise)
or prospects of Lessee individually, or the Lessee and its Subsidiaries taken as a whole; (b) the ability of the Lessee to perform its obligations to perform its obligations under this Agreement or any related document to which it is a party,
or (c) the validity or enforceability of this Agreement or any related agreement or the rights or remedies of Lessor hereunder or thereunder. 
 “Materials of Environmental Concern” mean any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or
wastes, defined or regulated as such in or under any Environmental Law, including asbestos, polychlorinated biphenyls and urea-formaldehyde insulation. 
 “Operative Documents” means, collectively, this Agreement, the Sale and Purchase Agreement and the Insurance Agreements. 
 “Parties” means, collectively, Lessor and Lessee (each individually, a “Party”). 
 “Payment Date” means, with respect to the Lease, the (x) fifteenth (15th) calendar day of each month and (y) the Termination Date of such Lease; provided that if any
Payment Date is not a Business Day, the Payment Date shall be deemed to be the Business Day immediately following such date. 

“Person” means an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust,
unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 
 “Post-Petition
Amounts” has the meaning set forth in clause 10.1. 
 “Prepayment Termination Date” has the meaning set forth in
clause 5.4. 
 “Properties” has the meaning set forth in clause 7.2(r)(i). 

  
 3 

 “Purchase Price” means the aggregate amount of the Sold Equipment Purchase Price, the
Additional Sold Equipment Purchase Price and the Buyer-Purchased Equipment Purchase Price. 
 “Related Parties” means, with
respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees and advisors of such Person and of such Person’s Affiliates. 
 “Requirement of Law”: as to any Person, the certificate of incorporation and by-laws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation
or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Responsible Officer” means the chief executive officer, president, vice president, chief financial officer or treasurer, but in any
event, with respect to financial matters, the chief financial officer or treasurer. 
 “Sale and Purchase Agreement” has the
meaning set forth in the recitals to this Agreement. 
 “Sold Equipment” has the meaning set forth in the recitals to this
Agreement. 
 “Sold Equipment Purchase Price” has the meaning given to that term in the Sale and Purchase Agreement.

 “Specified Assets” has the meaning set forth in clause 10.1. 
 “Subsidiary” means as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting
power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the
time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. 
 “Tax Obligations” means any present or future tax (including, without limitation, any ad valorem, property, occupation, severance, first use, conservation, gross receipts, privilege,
sales, use, consumption, excise, lease, transaction, value added or other tax imposed by any Government, Federal, State and/or Local taxing jurisdictions), levy, license, impost, permit, duty, charge, assessment or fee or increases/amendments
thereto of any nature that may be imposed by any government or other taxing authority in respect of any payment or transaction contemplated by or undertaken pursuant to this Agreement or other documents associated herewith including any associated
penalties, fines or interest, excluding, however, any Excluded Taxes. 
 “Termination Date” has the meaning set forth in clause
5.1. 
 “UCC” has the meaning set forth in clause 10.1 

  
 4 

 Schedule 2 
  

	1.	Machinery & Equipment 

  

	2.	Tooling and dies 

  

	3.	Computer Equipment and components 

  

	4.	Auto 

  
 5 

 Schedule 3 
 Form of Certificate of Delivery and Acceptance 
 DATE:
[                    ] 

Pursuant to the Lease Agreement (the “Lease”), dated as of November 6, 2012 between AMUR FINANCE I LLC, as lessor
(“Lessor”), a Delaware limited liability company and QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC., as lessee (“Lessee”), a Delaware corporation, and on the basis of the confirmation given by the Lessee in this
Certificate, the item of Equipment identified below was delivered by the Lessor to the Lessee, and accepted by the Lessee from the Lessor, on [DATE] at [LOCATION] under, and in accordance with the terms and conditions of, the Lease.

 [INSERT DETAILED DESCRIPTION OF EQUIPMENT, INCLUDING SERIAL NUMBER OR OTHER IDENTIFYING INFORMATION] 

The Lessee confirms that as at the date of this Certificate: 
 (a) No Default under the Lease has occurred and is continuing; and 
 (b) the
representations and warranties set out in Section 7 of the Lease are true and correct as if each were made with reference to the facts and circumstances existing at the date of this certificate, 

QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC. 

 

			
	By:	 	  

		 	Name:
		 	Title:

  
 6 

 Schedule 4 
 List of Sold Equipment, Additional Sold Equipment and Buyer-Purchased Equipment 
  

	 	1.	Items described on Schedule 2. 

  
 7Second Supplemental Indenture dated as of November 9, 2012

 Exhibit 4.2 
 Execution Version 
 MAGELLAN MIDSTREAM PARTNERS, L.P.

 as Issuer 
 and 
 U.S. BANK NATIONAL ASSOCIATION 

as Trustee 

$250,000,000 
 4.20% SENIOR NOTES DUE 2042 
 SECOND SUPPLEMENTAL INDENTURE

 Dated as of November 9, 2012 

 TABLE OF CONTENTS 

 

							
	ARTICLE I. ESTABLISHMENT OF NEW SERIES	  	 	1	  
	 Section 1.01
	 	 Establishment of New Series
	  	 	1	  
		
	ARTICLE II. DEFINITIONS AND INCORPORATION BY REFERENCE	  	 	2	  
	 Section 2.01
	 	 Definitions
	  	 	2	  
		
	ARTICLE III. THE NOTES	  	 	5	  
	 Section 3.01
	 	 Form
	  	 	5	  
	 Section 3.02
	 	 Issuance of Additional Notes
	  	 	5	  
	 Section 3.03
	 	 Transfer of Notes
	  	 	5	  
	 Section 3.04
	 	 Restrictive Legend
	  	 	5	  
		
	ARTICLE IV. REDEMPTION	  	 	5	  
	 Section 4.01
	 	 Optional Redemption
	  	 	5	  
	 Section 4.02
	 	 Mandatory Redemption
	  	 	6	  
		
	ARTICLE V. COVENANT SUPPLEMENTS AND AMENDMENTS	  	 	6	  
	 Section 5.01
	 	 Covenants of the Partnership
	  	 	6	  
		
	ARTICLE VI. ADDITIONAL EVENT OF DEFAULTS	  	 	9	  
	 Section 6.01
	 	 Events of Default
	  	 	9	  
		
	ARTICLE VII. MODIFICATION OF INDENTURE	  	 	9	  
	 Section 7.01
	 	 Modification of Indenture with Consent of Holders of Debt Securities
	  	 	10	  
		
	ARTICLE VIII. MISCELLANEOUS	  	 	10	  
	 Section 8.01
	 	 Integral Part
	  	 	11	  
	 Section 8.02
	 	 Adoption, Ratification and Confirmation
	  	 	11	  
	 Section 8.03
	 	 Counterparts
	  	 	11	  
	 Section 8.04
	 	 Governing Law
	  	 	11	  
	 Section 8.05
	 	 Trustee Makes No Representation
	  	 	11	  

  
 i 

 SECOND SUPPLEMENTAL INDENTURE dated as of November 9, 2012 (this “Second
Supplemental Indenture”) between Magellan Midstream Partners, L.P., a Delaware limited partnership (the “Partnership” or the “Issuer”), and U.S. Bank National Association, a national
banking association, as trustee (the “Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Issuer has previously entered into an Indenture, dated as of August 11, 2010 (the “Original
Indenture”), with U.S. Bank National Association, as trustee; 
 WHEREAS, the Original Indenture, as supplemented
pursuant to this Second Supplemental Indenture, is herein called the “Indenture”; 
 WHEREAS, the Issuer
proposes to create under the Indenture a new series of Debt Securities; 
 WHEREAS, additional Debt Securities of other series
hereafter established, except as may be limited in the Original Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Original Indenture as at the time supplemented and modified by a supplemental
indenture; and 
 WHEREAS, all conditions necessary to authorize the execution and delivery of this Second Supplemental
Indenture and to make it a valid and binding obligation of the Issuer have been done or performed; 
 NOW, THEREFORE, in
consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I. 

ESTABLISHMENT OF NEW SERIES 
  

Section 1.01 Establishment of New Series.  

(a) There is hereby established a new series of Notes to be issued under the Indenture, to be designated as the
Issuer’s 4.20% Senior Notes due 2042 (the “Notes”). 
 (b) There are to be
authenticated and delivered $250,000,000 principal amount of Notes on the Issue Date, and from time to time thereafter there may be authenticated and delivered an unlimited principal amount of Additional Notes. 

(c) The Notes shall be issued initially in the form of one or more Global Securities in substantially the form set out in
Exhibit A hereto. The Depositary with respect to the Notes shall be The Depository Trust Company. 
 (d)
Initially, there shall be no Subsidiary Guarantors. Each Note shall be dated the date of authentication thereof and shall bear interest as provided in paragraph number 1 of the form of Note in Exhibit A hereto. 

(e) If and to the extent that the provisions of the Original Indenture are duplicative of, or in contradiction with, the
provisions of this Second Supplemental Indenture, the provisions of this Second Supplemental Indenture shall govern. 

  
 1 

 ARTICLE II. 
 DEFINITIONS AND INCORPORATION BY REFERENCE 
 Section 2.01
Definitions. All capitalized terms used herein and not otherwise defined below shall have the meanings ascribed thereto in the Original Indenture. The following are additional definitions used in this Second Supplemental
Indenture: 
 “Additional Notes” has the meaning assigned to it in Section 3.02 hereof. 

“Commodity Trading Obligations” with respect to any Person, means the obligations of such Person under
(1) any commodity swap agreement, commodity future agreement, commodity option agreement, commodity cap agreement, commodity floor agreement, commodity collar agreement, commodity hedge agreement, and any put, call or other agreement or
arrangement, or combination thereof, designed to protect such Person against fluctuations in commodity prices or (2) any commodity swap agreement, commodity future agreement, commodity option agreement, commodity hedge agreement, and any put,
call or other agreement or arrangement, or combination thereof (including an agreement or arrangement to hedge foreign exchange risks) in respect of commodities entered into by the Partnership pursuant to asset optimization and risk management
policies and procedures adopted in good faith by the Board of Directors. 
 “Consolidated Net Tangible
Assets” means, at any date of determination, the total amount of assets after deducting therefrom (1) all current liabilities (excluding (A) any current liabilities that by their terms are extendible or renewable at the option
of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed, and (B) current maturities of long-term debt), and (2) the amount (net of any applicable reserves) of all goodwill, trade
names, trademarks, patents and other like intangible assets, all as set forth on the consolidated balance sheet of the Partnership and its consolidated subsidiaries for the Partnership’s most recently completed fiscal quarter, prepared in
accordance with GAAP. 
 “Debt” means any obligation created or assumed by any Person for the repayment
of money borrowed, any purchase money obligation created or assumed by such Person and any guarantee of the foregoing. 

“Funded Debt” means all Debt maturing one year or more from the date of the creation thereof, all Debt directly or
indirectly renewable or extendible, at the option of the debtor, by its terms or by the terms of any instrument or agreement relating thereto, to a date one year or more from the date of the creation thereof, and all Debt under a revolving credit or
similar agreement obligating the lender or lenders to extend credit over a period of one year or more. 
 “Issue
Date” means the date on which the Notes are initially issued. 
 “Lien” means, as to any
Person, any mortgage, lien, pledge, security interest or other encumbrance in or on, or adverse interest or title of any vendor, lessor, lender or other secured party to or of such Person under conditional sale or other title retention agreement or
capital lease with respect to, any property or asset of such Person. 

  
 2 

 “Notes” has the meaning assigned to it in Section 1.01(a)
hereof. 
 “Permitted Hedging Obligations” of any Person shall mean (1) hedging obligations entered
into in the ordinary course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or currency exchange rates
and which in the case of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the Debt being hedged thereby and (2) Commodity Trading Obligations. 

“Permitted Liens” means (1) Liens upon rights-of-way for pipeline purposes; (2) any statutory or
governmental Lien, mechanics’, materialmen’s, carriers’ or similar Lien incurred in the ordinary course of business which is not yet due or which is being contested in good faith by appropriate proceedings and any undetermined Lien
which is incidental to construction; (3) the right reserved to, or vested in, any municipality or public authority by the terms of any right, power, franchise, grant, license, permit or by any provision of law, to purchase or recapture or to
designate a purchaser of, any property or assets; (4) Liens for taxes and assessments which are (A) for the then current year, (B) not at the time delinquent, or (C) delinquent but the validity of which is being contested at the
time by the Partnership or any Restricted Subsidiary in good faith; (5) Liens arising under, or to secure performance of, leases, other than capital leases; (6) any Lien upon, or deposits of, any assets in favor of any surety company or
clerk of court for the purpose of obtaining indemnity or stay of judicial proceedings; (7) any Lien upon property or assets acquired or sold by the Partnership or any Restricted Subsidiary resulting from the exercise of any rights arising out
of defaults on receivables; (8) any Lien incurred in the ordinary course of business in connection with workmen’s compensation, unemployment insurance, temporary disability, social security, retiree health or similar laws or regulations or
to secure obligations imposed by statute or governmental regulations; (9) any Lien in favor of the United States of America or any state thereof, or any other country, or any political subdivision of any of the foregoing, to secure partial,
progress, advance or other payments pursuant to any contract or statute, or any Lien securing industrial development, pollution control or similar revenue bonds; (10) any easements, exceptions or reservations in any property or assets of the
Partnership or any Restricted Subsidiary granted or reserved for the purpose of pipelines, roads, the removal of oil, gas, coal or other minerals, and other like purposes, or for the joint or common use of real property, facilities and equipment,
which are incidental to, and do not materially interfere with, the ordinary conduct of its business or the business of the Partnership and its Subsidiaries, taken as a whole; (11) Liens securing Permitted Hedging Obligations; or (12) Liens
arising by reason of any judgment, decree or order of any court not giving rise to an Event of Default, so long as any such Lien is being contested in good faith, and any appropriate legal proceedings that may have been duly initiated for the review
of such judgment, decree or order have not been finally terminated or the period within which such proceedings may be initiated has not expired. 
 “Person” means any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, other entity, unincorporated
organization or government or other agency or political subdivision thereof. 

  
 3 

 “Principal Property” means any pipeline, terminal or terminal
facility property or asset owned or leased by the Partnership or any Subsidiary, including any related property or asset employed in the transportation (including vehicles that generate transportation revenues), distribution, terminalling,
gathering, treating, processing, marketing or storage of crude oil or refined petroleum products, natural gas, natural gas liquids, fuel additives, petrochemicals or ammonia, except (1) any property or asset consisting of inventories,
furniture, office fixtures and equipment (including data processing equipment), vehicles and equipment used on, or useful with, vehicles (but excluding vehicles that generate transportation revenues as provided above), and (2) any such property
or asset, plant or terminal which, in the opinion of the Board of Directors, is not material in relation to the activities of the Partnership and its Subsidiaries, taken as a whole. 

“Ratings Affirmation” means, with respect to any particular action or proposed action, each of Standard &
Poor’s Rating Services and Moody’s Investors Service, Inc. or, if either or both of such ratings agencies do not then rate the Notes, such other nationally recognized statistical rating organization (as defined in the rules and regulations
of the SEC) then having issued long-term debt ratings for the Notes, affirms that such long-term debt ratings will not be lowered as a result of the taking of such action or proposed action. 

“Restricted Subsidiary” means any Subsidiary of the Partnership that owns or leases, directly or indirectly
through the ownership of or an ownership interest in another Subsidiary, any Principal Property. 
 “Sale-Leaseback
Transaction” means the sale or transfer by the Partnership or any Restricted Subsidiary of any Principal Property to a Person (other than the Partnership or a Restricted Subsidiary) and the taking back by the Partnership or any
Restricted Subsidiary, as the case may be, of a lease of such Principal Property. 
 “Subsidiary” means,
with respect to any Person, 
 (1) any other Person of which more than 50% of the total voting power of capital interests
(without regard to any contingency to vote in the election of directors, managers, trustees, or equivalent persons), at the time of such determination, is owned or controlled, directly or indirectly, by such Person or one or more of the Subsidiaries
of such Person; 
 (2) in the case of a partnership, any Person of which more than 50% of the partners’ capital interests
(considering all partners’ capital interests as a single class), at the time of such determination, is owned or controlled, directly or indirectly, by such Person or one or more of the Subsidiaries of such Person; or 

(3) any other Person in which such Person or one or more of the Subsidiaries of such Person have the power to control, by contract or
otherwise, the board of directors, managers, trustees or equivalent governing body of, or otherwise control, such other Person. 

  
 4 

 ARTICLE III. 
 THE NOTES 
 Section 3.01 Form. The Notes shall be issued
in the form of one or more Global Securities, and the Notes and Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto, the terms of which are incorporated in and made a part of this Second
Supplemental Indenture, and the Issuer and the Trustee, by their execution and delivery of this Second Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

Section 3.02 Issuance of Additional Notes. The Issuer may, from time to time, issue an unlimited amount of additional
Notes (“Additional Notes”) under the Indenture, which shall be issued in the same form as the Notes issued on the Issue Date and which shall have the same terms as the Notes issued on the Issue Date (except for the issue date
of such Additional Notes, the public offering price of such Additional Notes and, if applicable, the date for the first payment of interest following the issue date of such Additional Notes). The Notes issued on the Issue Date shall be limited in
aggregate principal amount to $250,000,000. The Notes issued on the Issue Date and any Additional Notes subsequently issued shall be treated as a single series for purposes of giving of notices, consents, waivers, amendments and taking any other
action permitted under the Indenture and for purposes of interest accrual (except as may be otherwise specified in connection with the issuance of such Additional Notes) and redemptions. 

Section 3.03 Transfer of Notes. When Notes are presented to the Registrar with the request to register the transfer of
such Notes or exchange such Notes for an equal principal amount of Notes of other authorized denominations, the Registrar shall register the transfer or make the exchange in accordance with Article II of the Original Indenture. 

Section 3.04 Restrictive Legend. Each security certificate evidencing the Global Securities shall bear a legend
substantially in the form set forth in Section 2.15(a) of the Original Indenture. 
 ARTICLE IV. 

REDEMPTION 

Section 4.01 Optional Redemption. 

(a) At any time prior to June 1, 2042 (the date that is six months prior to the Stated Maturity), at its option, the
Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined 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 on the Notes to be redeemed (exclusive of interest accrued to such Redemption Date) discounted to such Redemption Date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate (as defined in paragraph 5 of the form of Note attached as Exhibit A) plus 20 basis points, plus, in either case, accrued and unpaid interest, if any, to such Redemption Date.

  
 5 

 (b) At any time on or after June 1, 2042 (the date that is six months
prior to the Stated Maturity), at its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined by the Issuer equal to 100% of the principal amount of the Notes to be
redeemed, plus accrued and unpaid interest, if any, to such Redemption Date. 
 (c) Any redemption pursuant to
this Section 4.01 shall be made pursuant to the provisions of Sections 3.01 through 3.03 of the Original Indenture. The actual redemption price, calculated as provided in this Section 4.01 and paragraph number 5 of the form of Note in
Exhibit A hereto, shall be certified in writing to the Issuer and the Trustee by the Independent Investment Banker (as defined in such paragraph 5) no later than two Business Days prior to each Redemption Date. 

Section 4.02 Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund
payments with respect to the Notes and shall have no obligation to repurchase any Notes at the option of the Holders. 

ARTICLE V. 

COVENANT SUPPLEMENTS AND AMENDMENTS 
  

Section 5.01 Covenants of the Partnership. Article IV of the Original Indenture is hereby supplemented, but only in
relation to the Notes, by the addition of the following new Sections at the end of Article IV: 

“Section 4.08. Subsidiary Guarantees. If any Subsidiary of the Partnership that is not then a Subsidiary
Guarantor becomes a guarantor or co-obligor of any Funded Debt of the Partnership, in either case after the Issue Date, then the Partnership shall cause such Subsidiary to promptly execute and deliver a supplemental Indenture, substantially in the
form of Exhibit B to the Second Supplemental Indenture, providing for the Guarantee of the payment of the Notes pursuant to Article XIV hereof. 
 Section 4.09. Limitations on Liens. The Partnership will not, nor will it permit any Subsidiary to, create, assume, incur or suffer to exist any Lien upon any Principal Property or upon any
capital stock of any Restricted Subsidiary, whether owned or leased on the date of this Indenture or thereafter acquired, to secure any Debt of the Partnership or any other Person (other than the Debt Securities issued hereunder), without in any
such case making effective provision whereby all of the Debt Securities Outstanding hereunder shall be secured equally and ratably with, or prior to, such Debt so long as such Debt shall be so secured. This restriction shall not apply to or prevent
the creation or existence of: 
 (a) any Lien on any property or assets of the Partnership or any Restricted
Subsidiary in existence on the Issue Date or created pursuant to an “after-acquired property” clause or similar term in existence on the Issue Date in any mortgage, pledge agreement, security agreement or other similar instrument
applicable to the Partnership or any Restricted Subsidiary and in existence on the Issue Date; 

  
 6 

 (b) any Lien on any property or assets created at the time of acquisition of
such property or assets by the Partnership or any Restricted Subsidiary or within one year after such time to secure all or a portion of the purchase price for such property or assets or Debt incurred to finance such purchase price, whether such
Debt was incurred prior to, at the time of or within one year of such acquisition; 
 (c) any Lien on any
property or assets existing thereon at the time of the acquisition thereof by the Partnership or any Restricted Subsidiary (whether or not the obligations secured thereby are assumed by the Partnership or any Restricted Subsidiary), provided that
such Lien only encumbers the property or assets so acquired; 
 (d) any Lien on any property or assets of a
Person existing thereon at the time such Person becomes a Restricted Subsidiary by acquisition, merger or otherwise, provided that such Lien is not incurred in anticipation of such Person becoming a Restricted Subsidiary; 

(e) any Lien on any property or assets to secure all or part of the cost of construction, development, repair or
improvements thereon or to secure Debt incurred prior to, at the time of, or within one year after completion of such construction, development, repair or improvements or the commencement of full operations thereof (whichever is later), to provide
funds for any such purpose; 
 (f) any Lien in favor of the Partnership or any Restricted Subsidiary; 

(g) any Lien created or assumed by the Partnership or any Restricted Subsidiary in connection with the issuance of Debt
the interest on which is excludable from gross income of the holder of such Debt pursuant to the Internal Revenue Code of 1986, as amended, or any successor statute, for the purpose of financing, in whole or in part, the acquisition or construction
of property or assets to be used by the Partnership or any Subsidiary; 
 (h) Permitted Liens; 

(i) any Lien on any additions, improvements, replacements, repairs, fixtures, appurtenances or component parts thereof,
attaching to or required to be attached to property or assets pursuant to the terms of any mortgage, pledge agreement, security agreement or other similar instrument, creating a Lien upon such property or assets permitted by Clauses (a) through
(h), inclusive, of this Section; or 
 (j) any extension, renewal, refinancing, refunding or replacement (or
successive extensions, renewals, refinancings, refundings or replacements) of any Lien, in whole or in part, that is referred to in Clauses (a) through (i), inclusive, of this Section, or of any Debt secured thereby; provided, however, that the
principal amount of Debt secured thereby shall not exceed the greater of (1) the principal amount of Debt so secured at the time of such extension, renewal, refinancing, refunding or replacement (plus the aggregate amount of premiums, other
payments, costs and expenses required to be paid or incurred in connection with such extension, renewal, refinancing, refunding or replacement) and (2) the maximum committed principal amount of Debt so secured at

  
 7 

 
such time; provided further, however, that such extension, renewal, refinancing, refunding or replacement shall be limited to all or a part of the property or assets (including improvements,
alterations and repairs on such property or assets) subject to the Lien so extended, renewed, refinanced, refunded or replaced (plus improvements, alterations and repairs on such property or assets). 

Notwithstanding the foregoing provisions of this Section, the Partnership may, and may permit any Subsidiary to, create,
assume, incur or suffer to exist any Lien upon any Principal Property or capital stock of a Restricted Subsidiary to secure Debt of the Partnership or any other Person (other than the Debt Securities) that is not excepted by Clauses (a) through
(j), inclusive, of this Section without securing the Debt Securities issued hereunder, provided that the aggregate principal amount of all Debt then outstanding secured by such Lien and all other Liens not excepted by Clauses (a) through (j),
inclusive, of this Section, together with all net sale proceeds from Sale-Leaseback Transactions (excluding Sale-Leaseback Transactions permitted by Clauses (a) through (d), inclusive, of Section 4.11), does not exceed at any one time 15%
of Consolidated Net Tangible Assets. 
 Section 4.10. Restriction of Sale-Leaseback Transaction. The
Partnership will not, nor will it permit any Restricted Subsidiary to, engage in a Sale-Leaseback Transaction, unless: 
 (a) the Sale-Leaseback Transaction occurs within one year from the date of acquisition of the Principal Property subject thereto or the date of the completion of construction or commencement of full
operations on such Principal Property, whichever is later; 
 (b) the Sale-Leaseback Transaction involves a lease
for a period, including renewals, of not more than three years; 
 (c) the Partnership or such Restricted
Subsidiary would be entitled under Section 4.09 to incur Debt secured by a Lien on the Principal Property subject to the Sale-Leaseback Transaction in a principal amount equal to or exceeding the net sale proceeds from such Sale-Leaseback
Transaction without equally and ratably securing the Debt Securities; or 
 (d) the Partnership or such
Restricted Subsidiary, within a one-year period after such Sale-Leaseback Transaction, applies or causes to be applied an amount not less than the net sale proceeds from such Sale-Leaseback Transaction to (1) the prepayment, repayment,
redemption or retirement of any unsubordinated Funded Debt of the Partnership or any Funded Debt of a Subsidiary of the Partnership, or (2) investment in another Principal Property. 

Notwithstanding the foregoing provisions of this Section, the Partnership may, and may permit any Restricted Subsidiary
to, effect any Sale-Leaseback Transaction that is not excepted by Clauses (a) through (d), inclusive, of this Section, provided that the net sale proceeds from such Sale-Leaseback Transaction, together with the aggregate principal amount of
then outstanding Debt (other than the Debt Securities) secured by Liens upon Principal Properties not excepted by Clauses (a) through (j), inclusive, of Section 4.09, do not exceed at any one time 15% of Consolidated Net Tangible Assets.

  
 8 

 Section 4.11. Compliance with and Modification of Organizational
Documents. The Partnership shall comply with the terms and provisions of Sections 2.9, 7.9 and 12.9 of its Fifth Amended and Restated Agreement of Limited Partnership, dated as of September 28, 2009, as amended, and shall not amend,
supplement or otherwise modify (pursuant to a waiver or otherwise) any of such Sections in a manner materially adverse to the interests of the Holders of the Notes unless the Partnership obtains a Ratings Affirmation in connection with any such
amendment, supplement or modification or failure to comply.” 
 ARTICLE VI. 

ADDITIONAL EVENT OF DEFAULTS 
 Section 6.01 Events of Default. With respect to the Notes only, the following additional Events of Default are hereby added to Section 6.01(h) of the Original Indenture:

 “(h-1) default by the Partnership or any of its Subsidiaries in the payment at the Stated Maturity, after
the expiration of any applicable grace period, of principal of, premium, if any, or interest on any Debt then outstanding having a principal amount in excess of the greater of $50.0 million or 5% of the Partnership’s total consolidated
partners’ capital, or acceleration of any Debt having a principal amount in excess of such amount so that it becomes due and payable prior to its Stated Maturity and such acceleration is not rescinded within 60 days after the date on which
written notice specifying such default shall have been given to the Partnership by the Trustee or to the Partnership and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at the time Outstanding; 

(h-2) a final judgment or order for the payment of money in excess of the greater of $50.0 million or 5% of the
Partnership’s total consolidated partners’ capital (in each case, net of applicable insurance coverage) having been rendered against the Partnership or any Subsidiary and such judgment or order shall continue unsatisfied and unstayed for a
period of 60 days; and 
 (h-3) the failure of the General Partner to comply with the terms and provisions of
Sections 2.08 and 7.10(c) of its Third Amended and Restated Limited Liability Company Agreement, dated September 28, 2009, or the amendment, supplementation or other modification of (pursuant to a waiver or otherwise) either of such Sections in
a manner materially adverse to the interests of the Holders of the Notes unless the Partnership obtains a Ratings Affirmation in connection with any such amendment, supplementation or modification or failure to comply.” 

  
 9 

 ARTICLE VII. 
 MODIFICATION OF INDENTURE 
 Section 7.01 Modification of
Indenture with Consent of Holders of Debt Securities. The first paragraph of Section 9.02 of the Original Indenture is hereby amended and restated in its entirety, but only in relation to the Notes, as follows: 

“Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the Holders of not
less than a majority in aggregate principal amount of the Outstanding Debt Securities of each series affected by such supplemental Indenture (including consents obtained in connection with a tender offer or exchange offer for any such series of Debt
Securities), the Partnership and the Subsidiary Guarantors, when authorized by resolutions of the Board of Directors, and the Trustee may from time to time and at any time enter into an Indenture or Indentures supplemental hereto (which shall
conform to the provisions of the TIA as in force at the date of execution thereof) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental Indenture or of
modifying in any manner the rights of the Holders of the Debt Securities of such series; provided, with respect to amending the Indenture as to matters that require the consent of the Holders of not less than a majority in aggregate principal amount
of all Debt Securities of each series that would be affected by such amendment, the Notes and any Additional Notes shall vote together as a single class with any future series of the Partnership’s senior Debt Securities (unless otherwise
provided in the prospectus relating to such future series of senior Debt Securities) and any other series of the Partnership’s senior Debt Securities then Outstanding which are entitled by their terms to vote on the amendment in question;
provided further, that no such supplemental Indenture, without the consent of the Holders of each Debt Security so affected, shall: reduce the percentage in principal amount of Debt Securities of any series whose Holders must consent to an
amendment; reduce the rate of or extend the time for payment of interest on any Debt Security; reduce the principal of or extend the Stated Maturity of any Debt Security; reduce any premium payable upon the redemption of any Debt Security or change
the time at which any Debt Security may or shall be redeemed in accordance with Article III; make any Debt Security payable in currency other than the Dollar; impair the right of any Holder to receive payment of premium, if any, principal of and
interest on such Holder’s Debt Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Debt Securities; release any security that may have been granted in
respect of the Debt Securities, other than in accordance with this Indenture; make any change in Section 6.06 or this Section 9.02; or, except as provided in Section 11.02(b) or Section 14.04, release the Subsidiary Guarantors
other than as provided in this Indenture or modify the Guarantee in any manner adverse to the Holders.” 

  
 10 

 ARTICLE VIII. 
 MISCELLANEOUS 
 Section 8.01 Integral Part. This
Second Supplemental Indenture constitutes an integral part of the Indenture. 
 Section 8.02 Adoption, Ratification
and Confirmation. The Original Indenture, as supplemented and amended by this Second Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 

Section 8.03 Counterparts. This Second Supplemental Indenture may be executed in any number of counterparts,
each of which when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 
 Section 8.04 Governing Law. THIS SECOND SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

Section 8.05 Trustee Makes No Representation. The Trustee makes no representation as to the validity or
sufficiency of this Second Supplemental Indenture. 
 [Signatures on following page] 

  
 11 

 SIGNATURES 

 

					
	ISSUER:
	
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	/s/ John D. Chandler
		 		 	John D. Chandler
		 		 	Chief Financial Officer and
		 		 	Senior Vice President of
		 		 	Magellan GP, LLC
	
	TRUSTEE:
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	/s/ George Hogan
		 	George Hogan
		 	Vice President

 Signature Page to Second Supplemental Indenture 

 EXHIBIT A 
 (Form of Face of Note) 
 No.

CUSIP 559080 AF3 
 $250,000,000 
 ISIN US559080AF35 

MAGELLAN MIDSTREAM PARTNERS, L.P. 
 4.20% Senior Note due 2042 
 Magellan Midstream
Partners, L.P., a Delaware limited partnership, promises to pay to                     , or registered assigns, the principal sum
of             Dollars [or such greater or lesser amount as may be endorsed on the Schedule attached hereto]1 on December 1, 2042. 
  

			
	 Interest Payment Dates:
	  	June 1 and December 1
		
	 Record Dates:
	  	May 15 and November 15

  

					
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	 
		 	Name:	 	
		 	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	U.S. BANK NATIONAL ASSOCIATION,
	As Trustee
		
	By:	 	 
		 	        Authorized Signatory

 Dated:
                                        

  
  

	1 	 To be included only if the Note is issued in global form. 

  

  
 Exhibit A-1

 (Form of Back of Note) 

4.20% Senior Note due 2042 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE PARTNERSHIP OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN
THE INDENTURE REFERRED TO HEREIN.]2 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 1. Interest. Magellan Midstream Partners, L.P., a Delaware limited partnership (the
“Partnership” or the “Issuer”), promises to pay interest on the principal amount of this Note at 4.20% per annum from November 9, 2012 until maturity. The Issuer shall pay interest
semi-annually on June 1 and December 1 of each such year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the Notes shall accrue from the
most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance, November 9, 2012; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between
a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be June 1, 2013.
The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the same rate; and it shall pay interest (including post-petition
interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest shall be computed on the basis of a
360-day year of twelve 30-day months.2 

 
  

	2 	 To be included only if Note is issued in global form. 

  
 Exhibit A-2

 2. Method of Payment. The Issuer shall pay interest on the Notes (except Defaulted
Interest) to the Persons who are registered Holders of Notes at the close of business on the May 15 or November 15 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest
Payment Date, except as provided in Section 2.17 of the Original Indenture with respect to Defaulted Interest, and the Issuer shall pay principal (and premium, if any) of the Notes upon surrender thereof to the Trustee or a paying agent on or
after the Stated Maturity thereof. The Notes shall be payable as to principal, premium, if any, and interest at the office or agency of the Trustee maintained for such purpose in New York, New York (which initially is 100 Wall Street, Suite 1600,
New York, New York 10005), or, at the option of the Issuer, payment of interest may be made by check mailed to the Holders at their addresses set forth in the Debt Security Register, and provided that payment by wire transfer of immediately
available funds shall be required with respect to principal of, and interest and premium, if any, on, (a) each Global Security and (b) all other Notes aggregating at least $1,000,000 in principal amount the Holder of which shall have
provided wire transfer instructions to the Issuer or the paying agent on or prior to the applicable record date. Such payment shall be 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. 
 3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under
the Indenture, shall act as paying agent and Registrar. The Issuer may change any paying agent or Registrar without notice to any Holder. The Partnership may act in any such capacity. 

4. Indenture. The Issuer issued the Notes under an Indenture dated as of August 11, 2010 (the “Original
Indenture”), as supplemented by the Second Supplemental Indenture, dated as of November 9, 2012 (the “Second Supplemental Indenture,” and, together with the Original Indenture the
“Indenture”) between the Issuer and the Trustee. 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, as amended (15 U.S. Code
§§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are the obligation of the Issuer, initially in aggregate principal amount of $250.0 million. The Issuer may issue an unlimited aggregate principal amount of
Additional Notes under the Indenture. Any such Additional Notes that are actually issued shall be treated as issued and outstanding Notes (and as the same series with the same terms (except for the issue date of such Additional Notes, the public
offering price of such Additional Notes and, if applicable, the date for the first payment of interest following the issue date of such Additional Notes) as the initial Notes for the purposes indicated in Section 3.02 of the Second Supplemental
Indenture). Initially, the Notes are not guaranteed, but in the future they may be guaranteed by one or more Subsidiary Guarantors on the conditions and subject to the terms provided in Section 4.08 and Article XIV of the Indenture. 

5. Optional Redemption. (a) At any time prior to June 1, 2042 (the date that is six months prior to the Stated
Maturity), at its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined 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 on the Notes to be redeemed (exclusive of interest accrued to such Redemption Date) discounted to such Redemption Date on a
semi-annual 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 either case, accrued and unpaid interest, if any, to such Redemption Date. 

  
 Exhibit A-3

 (b) At any time on or after June 1, 2042 (the date that is six months prior to the
Stated Maturity), at its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined by the Issuer equal to 100% of the principal amount of the Notes to be redeemed, plus
accrued and unpaid interest, if any, to such Redemption Date. 
 For purposes of determining the redemption price, the following
definitions shall apply: 
 “Comparable Treasury Issue” means the United States Treasury security or
securities selected by the Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the Notes to be redeemed. 
 “Comparable Treasury Price” means, for any Redemption Date, (1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest
and lowest of all of the Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than six such Reference Treasury Dealer Quotations, the average of all such quotations. 

“Independent Investment Banker” means Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust Robinson
Humphrey, Inc. or Wells Fargo Securities, LLC, or any of their respective successor firms, or if each such firm is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing
appointed by the Trustee after consultation with the Partnership. 
 “Primary Treasury Dealer” means a
primary U.S. government securities dealer in New York City. 
 “Reference Treasury Dealer” means each of
(1) Barclays Capital Inc. and Deutsche Bank Securities Inc., or their successors, (2) a Primary Treasury Dealer selected by each of SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC; and (3) two other Primary Treasury
Dealers (in each case, or its affiliates and successors) that the Issuer specifies from time to time, provided that if any of the Reference Treasury Dealers specifically named above resigns, its successor dealer shall be a Primary Treasury Dealer
selected by the Trustee. 
 “Reference Treasury Dealer Quotations” means, for each Reference Treasury
Dealer and any Redemption Date, 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 such
Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

  
 Exhibit A-4

 “Treasury Rate” means, with respect to any Redemption Date,
(1) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published
weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term of the Notes to be redeemed, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during
the week in which the calculation date falls (or in the immediately preceding week if the calculation date falls on any day prior to the usual publication date for such release) or does not contain such yields, the rate per year equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using 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. The Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date. Any weekly average yields calculated by interpolation or extrapolation will be rounded to the nearest 1/100th of 1%, with any figure of 1/200th of
1% or above being rounded upward. 
 6. Mandatory Redemption. The Issuer shall not be required to make mandatory
redemption or sinking fund payments with respect to the Notes or to repurchase them at the option of the Holders. 
 7.
Notice of Redemption. Notice of redemption shall be mailed by first class mail at least 30 days but not more than 60 days before the Redemption Date to each Holder whose Notes are to be redeemed at its registered address. Notes in
denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the Redemption Date interest shall cease to accrue on Notes or portions thereof
called for redemption and with respect to which the redemption price has been paid. 
 8. Denominations, Transfer,
Exchange. The Notes are in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Issuer may require a Holder to pay any taxes or other governmental charges imposed in relation thereto.

 9. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for all purposes. 

10. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture may be amended or supplemented with the consent
of the Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes, and any existing default or compliance with any provision of the Indenture relating to the Notes may be waived with the consent of the Holders of
not less than a majority in aggregate principal amount of the then 

  
 Exhibit A-5

 
Outstanding Notes; provided, with respect to amending the Original Indenture as to matters that require the consent of the Holders of not less than a majority in aggregate principal amount of all
Debt Securities of each series that would be affected by such amendment, the Notes and any Additional Notes shall vote together as a single class with any future series of the Partnership’s senior Debt Securities (unless otherwise provided in
the prospectus relating to such future series of senior Debt Securities) and any other series of the Partnership’s senior Debt Securities then Outstanding which are entitled by their terms to vote on the amendment in question. Without the
consent of any Holder of a Note, the Indenture may be amended or supplemented for any of the purposes set forth in Section 9.01 of the Indenture, including to provide for the assumption of the Issuer’s obligations to Holders of the Notes
in case of a merger or consolidation of the Issuer or sale of all or substantially all of the Issuer’s assets, to add to the covenants of the Issuer or any Subsidiary Guarantor, to cure any ambiguity or omission or to correct any defect or
inconsistency, to permit the qualification of the Indenture under the TIA, to add or release Subsidiary Guarantors pursuant to the terms of the Indenture, to make any change that does not adversely affect the rights under the Indenture of any Holder
of the Notes, to add to, change or eliminate any of the provisions of the Indenture in respect of one or more series of Debt Securities in certain circumstances, to evidence or provide for the acceptance of appointment under the Indenture of a
successor or separate Trustee or to establish the form or terms of any other series of Debt Securities. 
 11. Defaults and
Remedies. Events of Default with respect to the Notes include: (i) default for 30 days in the payment when due of interest on the Notes; (ii) default in payment when due of principal of or premium, if any, on the Notes when due at
Stated Maturity, upon redemption or otherwise; (iii) failure by the Partnership or any Subsidiary Guarantor to comply for 60 days after notice with any of its other covenants or agreements in the Indenture relating to the Notes;
(iv) certain events of bankruptcy, insolvency or reorganization with respect to the Issuer or, if and so long as the Notes are guaranteed by a Subsidiary Guarantor, such Subsidiary Guarantor; (v) any Guarantee ceasing to be in full force
and effect or held in any judicial proceeding to be null and void, or any Subsidiary Guarantor denying or disaffirming its obligations under the Indenture or its Guarantee; (vi) default by the Partnership or any of its Subsidiaries in the
payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of, premium, if any, or interest on any Debt then outstanding having a principal amount in excess of the greater of $50.0 million or 5% of the
Issuer’s total consolidated partners’ capital, or acceleration of any Debt having a principal amount in excess of such amount so that it becomes due and payable prior to its Stated Maturity and such acceleration is not rescinded within 60
days after notice; (vii) a final judgment or order for the payment of money in excess of the greater of $50.0 million or 5% of the Issuer’s total consolidated partners’ capital (in each case, net of applicable insurance coverage)
having been rendered against the Partnership or any Subsidiary and such judgment or order continues unsatisfied and unstayed for a period of 60 days and (viii) the failure of the General Partner to comply with certain separateness and
bankruptcy related provisions of its limited liability company agreement or the amendment or modification of such provisions. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount
of the then Outstanding Notes may declare all the Notes to be due and payable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all Outstanding Notes shall become due and
payable without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders 

  
 Exhibit A-6

 
of not less than a majority in aggregate principal amount of the then Outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the
Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if the Trustee determines in good faith that withholding notice is in the Holders’ interests. The Holders of not less
than a majority in aggregate principal amount of the Notes then Outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any past Default or Event of Default and its consequences under the Indenture except a
Default or Event of Default in the payment of interest on, the principal of, or premium, if any, on, the Notes or an Event of Default relating to a provision of the Indenture that cannot be amended without the consent of each Holder affected
thereby. The Partnership is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Partnership is required within 30 days after the occurrence of any Default or Event of Default, to deliver to the
Trustee a statement specifying such Default or Event of Default and certain additional information. 
 12. Trustee Dealings
with Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not the
Trustee. 
 13. Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee
or an authenticating agent. 
 14. Abbreviations. Customary abbreviations may be used in the name of a Holder 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). 

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

The Issuer shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

 Magellan Midstream Partners, L.P. 
 P.O. Box 22186 
 Tulsa, Oklahoma 74121-2186 

Attention: General Counsel 

  
 Exhibit A-7

 Assignment Form 

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

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

 
  

 
  

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

 
 agent to transfer this 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 face of this Note).

  

			
	Signature Guarantee:	  	 
		  	(Signature must be guaranteed by a financial institution that is a member of the Securities Transfer the Securities Transfer Agent Medallion Program
(“STAMP”), the Stock Exchange Medallion Program (“SEMP”), the New York Stock Exchange, Inc. Medallion Signature Program (“MSP”) or such other signature guarantee program as may
be determined by the Registrar in addition to, or in substitution for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934, as amended.)

  
 Exhibit A-8

 SCHEDULE OF INCREASES OR DECREASES IN THE GLOBAL NOTE3 

The original principal amount of this Global Note is $250,000,000. The following increases or decreases in this Global Note have been
made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal
Amount
	 	 Amount of increase in
Principal
Amount
	  	Principal Amount of this
Global Note following
such decrease or increase	  	Signature of authorized
signatory of Trustee or
Note Custodian

 
  

	3 	 To be included only if the Note is issued in global form. 

  
 Exhibit A-9

 EXHIBIT B 
 FORM OF SUPPLEMENTAL INDENTURE 
 SUPPLEMENTAL INDENTURE (this
“Supplemental Indenture”), dated as of                     , among Magellan Midstream Partners, L.P., a Delaware
limited partnership (the “Partnership” or the “Issuer”),                     (the
“Subsidiary Guarantor”), a direct or indirect subsidiary of the Partnership, and U.S. Bank National Association, as trustee under the indenture referred to below (the “Trustee”). 

W I T N E S S E T H: 
 WHEREAS, the Issuer has previously executed and delivered to the Trustee an indenture (the “Original Indenture”), dated as of August 11, 2010, as supplemented by the Second
Supplemental Indenture (the “Second Supplemental Indenture,” and, together with the Original Indenture, the “Indenture”) dated as of November 9, 2012, between the Issuer and the Trustee, providing
for the issuance of the Issuer’s 4.20% Senior Notes due 2042 (the “Notes”); 
 WHEREAS,
Section 4.08 of the Indenture provides that under certain circumstances the Partnership is required to cause the Subsidiary Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the Subsidiary Guarantor
shall unconditionally guarantee all of the Issuer’s obligations under the Notes pursuant to a Guarantee on the terms and conditions set forth herein; and 
 WHEREAS, pursuant to Section 9.01(g) of the Original Indenture, the Issuer, the Subsidiary Guarantor and the Trustee are authorized to execute and deliver this Supplemental Indenture; 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Issuer, the Subsidiary Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Notes as follows: 
 1. Definitions. 
 (a) Capitalized terms used herein without
definition shall have the meanings assigned to them in the Indenture. 
 (b) For all purposes of this
Supplemental Indenture, except as otherwise herein expressly provided or unless the context otherwise requires: (i) the terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture;
and (ii) the words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof.

 2. Agreement to Guarantee. The Subsidiary Guarantor hereby agrees, jointly and severally with any other Subsidiary
Guarantors under the Indenture, to guarantee the Issuer’s obligations under the Notes and all other amounts due and payable under the Indenture on the terms and subject to the conditions set forth in Article XIV of the Original Indenture and to
be 

  
 Exhibit B-1

 
bound by all other applicable provisions of the Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions
thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 

3. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A NEW YORK CONTRACT, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 4. Trustee Makes No Representation. The Trustee makes no
representation as to the validity or sufficiency of this Supplemental Indenture. 
 5. Counterparts. The parties may sign
any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 6. Effect of Headings. The Section headings herein are for convenience only and shall not effect the construction thereof. 
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written. 

 

					
	ISSUER:
	
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 
	
	[SUBSIDIARY GUARANTOR]
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  

  
 Exhibit B-2

 
					
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  
 Exhibit B-3

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