Document:

EX-4.1

 Exhibit 4.1 

Execution Version 
  

 
  

PRECISION CASTPARTS CORP. 
 TO

 U.S. BANK NATIONAL ASSOCIATION 

as Trustee 
  

 
 TWENTY-SEVENTH
SUPPLEMENTAL INDENTURE 
 Dated as of June 10, 2015 
  

 
  

 Table of Contents 

 

									
				
	 	 	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	2	  
				
		 	Section 1.1	 	Defined Terms	  	 	2	  
		
	ARTICLE II TERMS OF THE NOTES	  	 	6	  
				
		 	Section 2.1	 	Terms of Global Notes	  	 	6	  
		
	ARTICLE III AMENDMENTS TO THE ORIGINAL INDENTURE	  	 	10	  
				
		 	Section 3.1	 	Form of Global Notes	  	 	10	  
		 	Section 3.2	 	Registration, Registration of Transfer and Exchange	  	 	11	  
		
	ARTICLE IV MISCELLANEOUS PROVISIONS	  	 	13	  
		 	Section 4.1	 	Effectiveness	  	 	13	  
		 	Section 4.2	 	Governing Law	  	 	13	  
		 	Section 4.3	 	Trust Indenture Act Controls	  	 	13	  
		 	Section 4.4	 	Trustee Disclaimer	  	 	13	  
		 	Section 4.5	 	Counterparts and Method of Execution	  	 	13	  
		 	Section 4.6	 	Effect of Headings	  	 	13	  
		 	Section 4.7	 	Successors and Assigns	  	 	14	  
		 	Section 4.8	 	Separability Clause	  	 	14	  
		 	Section 4.9	 	Benefits of the Twenty-Seventh Supplemental Indenture	  	 	14	  
		 	Section 4.10	 	Effect of Twenty-Seventh Supplemental Indenture	  	 	14	  

  

			
	EXHIBIT A	  	Form of 2020 Note
		
	EXHIBIT B	  	Form of 2025 Note
		
	EXHIBIT C	  	Form of 2035 Note
		
	EXHIBIT D	  	Form of 2045 Note

 TWENTY-SEVENTH SUPPLEMENTAL INDENTURE, dated as of June 10, 2015, between Precision
Castparts Corp., a corporation duly organized and existing under the laws of the State of Oregon (herein called the “Company”), having its principal office at 4650 S.W. Macadam Avenue, Suite 400, Portland, Oregon and U.S. Bank
National Association, the successor in interest to J.P. Morgan Trust Company, National Association, which was the successor in interest to Bank One Trust Company, N.A., a national association, which was the successor in interest to The First
National Bank of Chicago, a national association (herein called the “Trustee”), as Trustee under the Indenture, dated as of December 17, 1997 between the Company and the Trustee, as amended and supplemented prior to the date
hereof (the “Original Indenture”). 
 WITNESSETH: 

WHEREAS, the Company has duly authorized the execution and delivery of the Original Indenture to provide for the issuance from time to time of
its unsecured debentures, notes or other evidences of indebtedness (the “Securities”), to be issued in one or more series as provided in the Original Indenture; 

WHEREAS, pursuant to that certain twenty-sixth supplemental indenture, dated as of December 20, 2012 (the “Twenty-Sixth Supplemental
Indenture”), between the Company and the Trustee, certain amendments were made to the Original Indenture with respect to the notes issued pursuant to the Twenty-Sixth Supplemental Indenture and other series of Securities that may be issued
under the Original Indenture after the date of the Twenty-Sixth Supplemental Indenture; 
 WHEREAS, Section 301 of the Original
Indenture permits the terms of any series of Securities to be established in an indenture supplemental to the Original Indenture; 

WHEREAS, Section 901 of the Original Indenture provides that a supplemental indenture may be entered into by the Company and the Trustee
without the consent of any Holders of the Securities, and when authorized by a Board Resolution, for certain purposes stated therein, including to establish the form or terms of Securities of any series; 

WHEREAS, the Company has requested the Trustee to join with it in the execution and delivery of this Twenty-Seventh Supplemental Indenture in
order to supplement the Original Indenture by, among other things, establishing certain terms of series of Securities to be known as the Company’s 2.250% Senior Notes due 2020 (the “2020 Notes”), 3.250% Senior Notes due 2025
(the “2025 Notes”), 4.200% Senior Notes due 2035 (the “2035 Notes”) and 4.375% Senior Notes due 2045 (the “2045 Notes” and together with the 2020 Notes, the 2025 Notes and the 2035 Notes, the
“Notes” or “Securities”) and adding certain provisions thereof for the benefit of the Holders of such Notes; 

WHEREAS, the Company has furnished the Trustee with an Opinion of Counsel and a duly authorized and executed Company Order dated June 10,
2015 authorizing the execution of this Twenty-Seventh Supplemental Indenture and the issuance of the Notes; and 

  
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 WHEREAS, all things necessary to make this Twenty-Seventh Supplemental Indenture a valid
agreement of the Company and the Trustee and a valid supplement to the Original Indenture have been done. 
 NOW, THEREFORE, THIS
TWENTY-SEVENTH SUPPLEMENTAL INDENTURE for and in consideration of the premises and the purchase of the Notes to be issued hereunder by Holders thereof, the Company and the Trustee mutually covenant and agree, for the equal and proportionate benefit
of the respective Holders from time to time of the Notes, as follows: 
 ARTICLE I 

DEFINITIONS 
 The Original
Indenture, as supplemented and amended, together with this Twenty-Seventh Supplemental Indenture is hereinafter sometimes collectively referred to as the “Indenture.” All capitalized terms which are used herein and not otherwise defined
herein are defined in the Original Indenture and are used herein with the same meanings as in the Original Indenture. 
 For all purposes of
this Twenty-Seventh Supplemental Indenture and the Notes, except as otherwise expressly provided or unless the subject matter or the context otherwise requires and in addition to the definitions set forth in Section 101 of the Original
Indenture, the following terms shall have the meanings assigned to them in this Article I: 
 Section 1.1 Defined Terms 

“Adjusted Treasury Rate” means the arithmetic mean of the yields under the heading “Week Ending” published in the
Statistical Release most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the Comparable Treasury Issue, plus 15 basis
points in the case of the 2020 Notes, 20 basis points in the case of the 2025 Notes, 20 basis points in the case of the 2035 Notes and 25 basis points in the case of the 2045 Notes. If no maturity set forth under such heading exactly corresponds to
the maturity of such principal, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be calculated pursuant to the immediately preceding sentence, and the Adjusted Treasury Rate shall be
interpolated or extrapolated from such yields on a straight-line basis, rounding in each of the relevant periods to the nearest month. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange. 

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, lease,
transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or more series of related transactions, of all or substantially all of the assets of the Company and the assets of its Subsidiaries, taken as a whole,
to any person (as defined in Section 13(d)(3) under the Exchange Act), other than the Company or one of its  

  
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Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any person (as defined in Section 13(d)(3)
under the Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the outstanding Voting Stock of the Company or other Voting Stock into which the Voting
Stock of the Company is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges
with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other
than any such transaction where the shares of the Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct
or indirect parent company of the surviving person immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the liquidation or dissolution of the Company. 

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

“Clearstream” means Clearstream Banking, société anonyme. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having
a maturity comparable to the remaining term of the applicable series of Notes to be redeemed (assuming, for this purpose, that such series of Notes matured on the applicable Par Call Date) that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes (assuming, for this purpose, that such series of Notes matured on the applicable Par Call
Date). 
 “Comparable Treasury Price” means with respect to any Redemption Date for the applicable Notes (i) the
average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Company obtains fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Custodian” means the Trustee, as custodian with respect to the Notes in
global form, or any successor entity thereto. 
 “Definitive Note” means a certificated Note registered in the name of the
Holder thereof and issued in accordance with Section 305(B) hereof, substantially in the form of Exhibit A, Exhibit B, Exhibit C or Exhibit D hereto, as applicable, except that such Note shall not bear the
Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto. 

“Euroclear” means Euroclear Bank S.A./N.V., or its successor, as operator of the Euroclear system. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
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 “GAAP” means generally accepted accounting principles in the United States of
America in effect on the Issue Date. 
 “Global Notes” means, individually and collectively, each of the Notes in global
form, substantially in the form of Exhibit A, Exhibit B, Exhibit C or Exhibit D hereto, as applicable, issued in accordance with Section 303, 305(B)(b)(iv), 305(B)(d)(ii) or 305(B)(f) hereof. 

“Global Note Legend” means the legend set forth in Section 305(B)(g)(ii), which is required to be placed on all Global
Notes issued under this Indenture. 
 “Independent Investment Banker” means one of the Reference Treasury Dealers that the
Company has appointed. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through a
Participant. 
 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s
and BBB- (or the equivalent) by S&P, and the equivalent investment grade credit rating from any replacement rating agency or rating agencies selected by the Company. 

“Issue Date” means the date on which the initial $2,000,000,000 aggregate amount of the Notes were originally issued under
this Twenty-Seventh Supplemental Indenture. 
 “Moody’s” means Moody’s Investors Service, Inc., and its
successors. 
 “Officer” means, with respect to any Person, the Chairman of the Board, any Vice Chairman of the Board, the
President, any Vice President, the Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the Secretary or any Assistant Secretary of such Person. 

“Par Call Date” means (i) with respect to the 2020 Notes, May 15, 2020, (ii) with respect to the 2025 Notes,
March 15, 2025, (iii) with respect to the 2035 Notes, December 15, 2034 and (iv) with respect to the 2045 Notes, December 15, 2044. 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the
Depositary, Euroclear or Clearstream, respectively (and, with respect to The Depository Trust Company, shall include Euroclear and Clearstream). 

“Rating Agencies” means (1) each of Moody’s and S&P; and (2) if either Moody’s or S&P ceases to
rate the applicable Notes or fails to make a rating of the applicable Notes publicly available for reasons beyond the Company’s control, a “nationally recognized statistical rating organization” within the meaning of
Section 3(a)(62) of the Exchange Act selected by the Company (as certified by a resolution of the Company’s Board of Directors) as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“Rating Event” means the rating on the applicable Notes is lowered by both Rating Agencies and such Notes are rated below an
Investment Grade Rating on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under 

  
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publicly announced consideration for a possible downgrade by any of the rating agencies) after the earlier of (1) the occurrence of a Change of Control and (2) public notice of the
occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided, however, that a Rating Event otherwise arising by virtue of a particular reduction in rating will not be deemed to have occurred in respect of
a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do
not announce or publicly confirm or inform the Trustee in writing at the Company’s or its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the
applicable Change of Control (whether or not the applicable change of control has occurred at the time of the rating event). 

“Reference Treasury Dealer” means each of Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Mizuho Securities USA Inc. and its successors and any one other primary U.S. Government securities dealer in The City of New York appointed by the Company and its successors (each, a “Primary Treasury Dealer”);
provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute in its place another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m.
on the third Business Day preceding such Redemption Date. 
 “S&P” means Standard & Poor’s Rating
Services, a division of The McGraw-Hill Companies, Inc., and its successors. 
 “Securities Act” means the Securities Act
of 1933, as amended. 
 “Statistical Release” means the 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 maturities, or, if such release (or any
successor release) is not published during the week preceding the calculation date 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. 

“Voting Stock” means, with respect to any specified “person” (as that term is used in Section 13(d)(3) of the
Exchange Act) as of any date, the capital stock of that person that is at the time entitled to vote generally in the election of the board of directors of that person. 

  
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 ARTICLE II 

TERMS OF THE NOTES 
 Section 2.1
Terms of Global Notes. In accordance with Section 301 of the Original Indenture, the following terms relating to the Notes are hereby established: 

1. Title of the Securities. The title of the securities issued under this Twenty-Seventh Supplemental Indenture shall be the
“2.250% Senior Notes due 2020”, the “3.250% Senior Notes due 2025”, the “4.200% Senior Notes due 2035” and the “4.375% Senior Notes due 2045”. 

2. Aggregate Principal Amount. The initial aggregate principal amount of the Notes which may be authenticated and delivered under this
Twenty-Seventh Supplemental Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other notes pursuant to Section 304, 305, 306, 906 or 1107 of the Indenture and except for
Notes which, pursuant to Section 303 of the Indenture, are deemed never to have been authenticated and delivered under the Indenture) shall be $550,000,000 in the case of the 2020 Notes, $850,000,000 in the case of the 2025 Notes, $275,000,000
in the case of the 2035 Notes and $325,000,000 in the case of the 2045 Notes. The Company may, from time to time, without the consent of the Holders of a particular series of Notes, issue additional notes having identical terms (including CUSIP and
other relevant identifying characteristics) as the applicable Notes, so long as, on the date of issuance of such additional notes: (i) no Event of Default shall have occurred and then be continuing, or shall occur as a result of the issuance of
such additional notes; (ii) such additional notes shall rank pari passu with the particular series of Notes (except the issue date, issue price and, if applicable, initial interest payment date) and shall have identical terms, conditions
and benefits as the particular series of Notes and be part of the same series of Notes; and (iii) the Trustee shall have received all such opinions and other documents as it shall have requested, including an Opinion of Counsel stating that
such additional notes are authorized and permitted by the Indenture and all conditions precedent to the issuance of such additional notes have been complied with by the Company. All such additional notes issued hereunder will, when issued, be
considered Notes for all purposes hereunder and will be subject to and take the benefit of all of the terms, conditions and provisions of this Indenture. 

3. Person to Whom Interest Shall Be Payable. Interest on the Notes shall be payable to the Holders of the Notes at the close of business
on the Regular Record Date for such interest; and the Regular Record Date for any interest payable on any Interest Payment Date is the next preceding June 1, or December 1, respectively, in the case of each of the 2020 Notes, the 2025
Notes, the 2035 Notes and the 2045 Notes (in each case, whether or not a Business Day). 
 4. Maturity Date. The entire outstanding
principal amount of each series of Notes shall be payable in a single installment in the case of the 2020 Notes, on June 15, 2020, in the case of the 2025 Notes, on June 15, 2025, in the case of the 2035 Notes, on June 15, 2035 and in
the case of the 2045 Notes, on June 15, 2045 (each, a “Maturity Date”). 

  
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 5. Interest. Interest shall be payable semiannually on June 15 and December 15
of each year, commencing on December 15, 2015 in the case of each of the 2020 Notes, the 2025 Notes, the 2035 Notes and the 2045 Notes (for purposes of each series of Notes, each an “Interest Payment Date”). The 2020 Notes
shall bear interest at 2.250% per annum from June 10, 2015, or from the most recent Interest Payment Date on which interest has been paid or duly provided for. The 2025 Notes shall bear interest at 3.250% per annum from June 10,
2015, or from the most recent Interest Payment Date on which interest has been paid or duly provided for. The 2035 Notes shall bear interest at 4.200% per annum from June 10, 2015, or from the most recent Interest Payment Date on which
interest has been paid or duly provided for. The 2045 Notes shall bear interest at 4.375% per annum from June 10, 2015, or from the most recent Interest Payment Date on which interest has been paid or duly provided for. Interest on each
series of the Notes shall be calculated on the basis of a 360-day year of twelve 30-day months. If any Interest Payment Date, Redemption Date or the Maturity Date falls
on a day that is not a Business Day, the required payment of principal of and interest on the applicable Notes will be made on the next succeeding Business Day as if made on the date that such payment was due and no interest will accrue on that
payment for the period from and after the Interest Payment Date, Redemption Date or the Maturity Date, as applicable, to the date of payment on the next succeeding Business Day. 

6. Place of Payment. The Trustee, at its Corporate Trust Office, is hereby initially designated as the Place of Payment and initially
appointed as the Security Registrar and Paying Agent for the Notes, and as agent for the Company to receive all presentations, surrenders, notices and demands in respect of the Notes. 

7. Optional Redemption. Prior to the applicable Par Call Date, the 2020 Notes will be redeemable, at any time in whole or from time to
time in part, at the option of the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of such Notes or (2) the sum of the present values of the remaining scheduled payments of principal and interest
thereon that would be due if the 2020 Notes matured on the applicable Par Call Date (not including the portion of any such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate (determined on the third Business Day preceding such Redemption Date by the Independent Investment Banker), plus, in each case, accrued and unpaid interest thereon to,
but excluding, the Redemption Date. 
 In addition, on or after the applicable Par Call Date, the 2020 Notes will be redeemable, in whole at
any time or in part from time to time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of such Notes to be redeemed, plus accrued interest thereon to, but excluding, the date of redemption. 

Prior to the applicable Par Call Date, the 2025 Notes will be redeemable, at any time in whole or from time to time in part, at the option of
the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of such Notes or (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the
2025 Notes matured on the applicable Par Call Date (not including the portion of any such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate (determined on the third Business Day preceding such Redemption Date by the Independent Investment Banker), plus, in each case, accrued and unpaid interest thereon to, but excluding, the Redemption Date.

  
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 In addition, on or after the applicable Par Call Date, the 2025 Notes will be redeemable, in
whole at any time or in part from time to time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of such Notes to be redeemed, plus accrued interest thereon to, but excluding, the date of redemption. 

Prior to the applicable Par Call Date, the 2035 Notes will be redeemable, at any time in whole or from time to time in part, at the option of
the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of such Notes or (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the
2035 Notes matured on the applicable Par Call Date (not including the portion of any such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate (determined on the third Business Day preceding such Redemption Date by the Independent Investment Banker), plus, in each case, accrued and unpaid interest thereon to, but excluding, the Redemption Date.

 In addition, on or after the applicable Par Call Date, the 2035 Notes will be redeemable, in whole at any time or in part from time to
time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of such Notes to be redeemed, plus accrued interest thereon to, but excluding, the date of redemption. 

Prior to the applicable Par Call Date, the 2045 Notes will be redeemable, at any time in whole or from time to time in part, at the option of
the Company at a Redemption Price equal to the greater of (1) 100% of the principal amount of such Notes or (2) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the
2045 Notes matured on the applicable Par Call Date (not including the portion of any such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate (determined on the third Business Day preceding such Redemption Date by the Independent Investment Banker), plus, in each case, accrued and unpaid interest thereon to, but excluding, the Redemption Date.

 In addition, on or after the applicable Par Call Date, the 2045 Notes will be redeemable, in whole at any time or in part from time to
time, at the option of the Company at a Redemption Price equal to 100% of the principal amount of such Notes to be redeemed, plus accrued interest thereon to, but excluding, the date of redemption. 

Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date, interest shall cease to accrue on the
applicable Notes or portions thereof called for redemption. 

  
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 8. Change of Control Offer. If a Change of Control Triggering Event
occurs with respect to any series of Notes, unless the Company has exercised its option to redeem the applicable Notes by notifying the Holders of such Notes to that effect, the Company will be required to make an offer (a “Change of Control
Offer”) to each Holder of the series of Notes as to which the Change of Control Triggering Event has occurred to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess of $2,000) of that Holder’s
applicable Notes on the terms set forth herein. In a Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate principal amount of the applicable Notes repurchased, plus accrued and unpaid interest
on the applicable Notes repurchased to the date of repurchase (a “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control,
but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice will be mailed to Holders of the applicable Notes, describing the transaction that constitutes or may constitute the Change of
Control Triggering Event and offering to repurchase the applicable Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date that notice is mailed (a “Change of
Control Payment Date”). The notice will, if mailed prior to the date of consummation of the Change of Control, state that the Change of Control Offer is conditioned on the Change of Control Triggering Event with respect to the applicable
Notes occurring on or prior to the Change of Control Payment Date.  
 On each Change of Control Payment Date, the Company will, to
the extent lawful: (i) accept for payment all applicable Notes or portions of such Notes properly tendered pursuant to the applicable Change of Control Offer; (ii) deposit with the Paying Agent an amount equal to the Change of Control
Payment in respect of all such Notes or portions of such Notes properly tendered; and (iii) deliver or cause to be delivered to the Trustee the applicable Notes properly accepted, together with an officers’ certificate stating the
aggregate principal amount of applicable Notes or portions of applicable Notes being repurchased and that all conditions precedent provided for in the Indenture to the Change of Control Offer and to the repurchase by the Company of the applicable
Notes pursuant to the Change of Control Offer have been met. 
 The Company will not be required to make a Change of Control Offer upon the
occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and the third party repurchases all applicable
Notes properly tendered and not withdrawn under its offer. In addition, the Company will not repurchase any applicable Notes if there has occurred and is continuing on the Change of Control Payment Date an Event of Default under the Indenture with
respect to such Notes, other than a default in the payment of the Change of Control Payment upon a related Change of Control Triggering Event. The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the applicable Notes as a result of a related Change of Control Triggering Event. To the extent that the
provisions of any such securities laws or regulations conflict with the Change of Control Offer provisions of the applicable Notes, the Company will comply with those securities laws and regulations and will not be deemed to have breached the
Company’s obligations under the Change of Control Offer provisions of the applicable Notes by virtue of any such conflict. 

  
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 9. No Sinking Fund. The Company shall have no obligation to redeem or purchase the
Notes pursuant to any sinking fund or analogous provisions, or at the option of a Holder thereof.  
 10. Global Notes.
The Global Notes representing the Notes shall be deposited on behalf of the Holders of the Notes represented thereby with the Trustee, as custodian for the Depositary, and registered in the name of the Depositary or a nominee of the Depositary
for the accounts of Participants, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of a Global Note may from time to time be increased or decreased by adjustments made on the
records of the Trustee and the Depositary or its nominee as hereinafter provided. The Depositary for the Notes shall initially be The Depository Trust Company, a New York corporation. 

11. Sections 1302 and 1303 of the Original Indenture shall apply to the Notes, in accordance with the provisions, terms and conditions
set forth in Article Thirteen thereof. 
 ARTICLE III 

AMENDMENTS TO THE ORIGINAL INDENTURE 

Section 3.1 Form of Global Notes. 

Solely with respect to the Notes (and not with respect to any other series of Securities that may be issued under the Original Indenture),
Sections 201 through 205 of the Original Indenture are hereby amended by deleting those Sections in their entirety and by replacing them with the following: 

“Section 201. Form. 

General. The Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A,
Exhibit B, Exhibit C and Exhibit D attached hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. The Notes shall be in minimum denominations of $2,000 and integral
multiples of $1,000 in excess of $2,000. The written order of the Company shall specify the amount of the applicable Notes to be authenticated and the date on which such Notes are to be authenticated, and such other information as the Trustee may
reasonably request or as is required by the Indenture. 
 Global Notes. Notes issued in global form shall be substantially in the
form of Exhibit A, Exhibit B, Exhibit C and Exhibit D attached hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in
definitive form shall be substantially in the form of Exhibit A, Exhibit B, Exhibit C and Exhibit D attached hereto (but without the Global Note Legend thereon and without the “Schedule of Exchanges of Interests in
the Global Note” attached thereto). Each Global Note shall represent such of the outstanding 2020 Notes, 2025 Notes, 2035 Notes or 2045 Notes, as applicable, as shall be specified therein and each shall provide that it shall represent the
aggregate principal amount of such Notes outstanding from time to time endorsed thereon and that the aggregate principal amount of such Notes outstanding represented thereby may from 

  
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time to time be reduced or increased, as appropriate, to reflect exchanges. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of
outstanding 2020 Notes, 2025 Notes, 2035 Notes or 2045 Notes, as applicable, represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required
by Section 305(B) hereof. 
 Section 3.2 Registration, Registration of Transfer and Exchange. Solely with respect to the Notes (and not
with respect to any other series of Securities that may be issued under the Original Indenture), Section 305 of the Original Indenture is hereby deleted in its entirety and replaced with the following: 

“Section 305. Registration, Registration of Transfer and Exchange. 

A. Security Registrar and Paying Agent. The Company shall maintain an office or agency where Notes may be presented for
registration of transfer or for exchange (“Security Register” or “Security Registrar”) and an office or agency where Notes may be presented for payment. The Security
Registrar shall keep a register of the Notes and of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The term “Security Registrar” includes any co-registrar and the
term “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Security Registrar without notice to any Holder. The Company shall notify the Trustee in writing of the name and address of any Paying
Agent or Security Registrar not a party to the Indenture. If the Company fails to appoint or maintain another entity as Security Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent
or Security Registrar. 
 (B) Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. The Global Notes may be transferred, in whole and not in part, only to another nominee of DTC
or to a successor of DTC or its nominee, except if DTC is at any time unwilling or unable to continue as depositary and a successor depositary is not appointed by the Company within 90 days. In such event, the Company will issue the Notes in
definitive form in exchange for the Global Notes representing such Notes and an owner of a beneficial interest in a Global Note will be entitled to physical delivery in definitive form of Notes represented by such Global Note equal in principal
amount to such beneficial interest and to have such Notes registered in its name. 
 (b) Transfer and Exchange of Beneficial Interests in
the Global Notes. The transfer and exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. 

(c) Legends. The following legend shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Indenture. 

  
 11 

 Each Global Note shall bear a legend in substantially the following form: 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 305(B) OF THE INDENTURE, (II) THIS GLOBAL NOTE
MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 305(B)(a) OR 306 OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 309 OF THE INDENTURE AND (IV) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF PRECISION CASTPARTS CORP.” 
 (d)
Cancellation and/or Adjustment of Global Notes. 
 (i) At such time as all beneficial interests in a particular Global
Note have been exchanged for Definitive Notes or a particular Global Note has been repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with
Section 309. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for
Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such
reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an
endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(a) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall authenticate Global
Notes and Definitive Notes upon the Company’s order or at the Security Registrar’s request. 
 (ii) No service
charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 304, 1107 and 906 hereof). 

(iii) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. 

  
 12 

 (iv) The Company shall not be required to register the transfer of or to exchange
a Note between a record date and the next succeeding Interest Payment Date. 
 (v) The Trustee shall authenticate Global
Notes and Definitive Notes in accordance with the provisions of Section 303 of the Indenture. 
 (vi) All
certifications, certificates and Opinions of Counsel required to be submitted to the Security Registrar pursuant to this Section 305(B) to effect a registration of transfer or exchange may be submitted by facsimile. 

(vii) Prior to due presentment for the registration of a transfer of any Note, the Trustee and the Company may deem and treat
the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of, premium, if any, and interest on such Notes and for all other purposes, and neither the Trustee nor the Company
shall be affected by notice to the contrary.” 
 ARTICLE IV 

MISCELLANEOUS PROVISIONS 

Section 4.1 Effectiveness. This Twenty-Seventh Supplemental Indenture will become operative and binding upon each of the Company, the
Trustee and the holders of the Notes as of the day and year first above written. 
 Section 4.2 Governing Law. This Twenty-Seventh
Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York. 
 Section 4.3 Trust Indenture
Act Controls. If any provision of this Twenty-Seventh Supplemental Indenture limits, qualifies or conflicts with another provision of the Original Indenture that is required to be included by the Trust Indenture Act of 1939, as amended (the
“Act”), as in force at the date this Twenty-Seventh Supplemental Indenture is executed, the provision required by said Act shall control. 

Section 4.4 Trustee Disclaimer. The recitals contained in this Twenty-Seventh Supplemental Indenture shall be taken as the
statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Twenty-Seventh Supplemental Indenture. 

Section 4.5 Counterparts and Method of Execution. This Twenty-Seventh Supplemental Indenture may be executed in several counterparts, all
of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all the parties have not signed the same counterpart. 

Section 4.6 Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the construction
hereof. 

  
 13 

 Section 4.7 Successors and Assigns. All covenants and agreements in this Twenty-Seventh
Supplemental Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 4.8 Separability
Clause. In case any provision in this Twenty-Seventh Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby. 
 Section 4.9 Benefits of the Twenty-Seventh Supplemental Indenture. Nothing in this Twenty-Seventh Supplemental
Indenture or the Notes, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders of the Notes, any benefit or any legal or equitable right, remedy or claim under this Twenty-Seventh
Supplemental Indenture. 
 Section 4.10 Effect of Twenty-Seventh Supplemental Indenture. 

(a) This Twenty-Seventh Supplemental Indenture is a supplemental indenture within the meaning of Section 901 of the Original Indenture,
and the Original Indenture shall be read together with this Twenty-Seventh Supplemental Indenture and shall have the same effect over the Notes, in the same manner as if the provisions of the Original Indenture and this Twenty-Seventh Supplemental
Indenture were contained in the same instrument. Notwithstanding the foregoing, to the extent that any provision of the Original Indenture shall conflict with any provision of this Twenty-Seventh Supplemental Indenture, the terms of this
Twenty-Seventh Supplemental Indenture shall be deemed controlling and the conflicting provision of the Original Indenture shall be null and void to the extent of such conflict. 

(b) In all other respects, the Original Indenture is confirmed by the parties hereto as supplemented by the terms of this Twenty-Seventh
Supplemental Indenture. 
 [THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.] 

  
 14 

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

			
	PRECISION CASTPARTS CORP.
		
	By:		 
	Name:		[    ]
	Title:		[    ]

  

			
	(Corporate Seal)
		
	Attest:		 
	Name:		[    ]
	Title:		[    ]

  

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

					
	STATE OF OREGON		)		
			)		ss.:
	COUNTY OF MULTNOMAH		)		

 On the             day of June, 2015, before me
personally came [    ], to me known, who, being by me duly sworn, did depose and say that said person is [    ] of Precision Castparts Corp., one of the corporations described in and which executed the
foregoing instrument; and that said person signed said person’s name thereto by like authority of the Board of Directors of said corporation. 
  

	
	Notary Public

  

	
	Official Seal
	Name: _______________________
	NOTARY PUBLIC-OREGON
	COMMISSION ________________
	MY COMMISSION EXPIRES ______________

  

					
	STATE OF OREGON		)		
			)		ss.:
	COUNTY OF MULTNOMAH		)		

 On the             day of June, 2015, before me
personally came [     ], to me known, who, being by me duly sworn, did depose and say that said person is [     ] of Precision Castparts Corp., one of the corporations described in and which executed the
foregoing instrument; and that said person signed said person’s name thereto by like authority of the Board of Directors of said corporation. 
  

	
	Notary Public

  

	
	Official Seal
	Name: _______________________
	NOTARY PUBLIC-OREGON
	COMMISSION ________________
	MY COMMISSION EXPIRES ______________

					
	STATE OF OREGON		)		
			)		ss.:
	COUNTY OF MULTNOMAH		)		

 On this             day of June, 2015, personally
appeared before me             who stated that (s)he is the                     of U.S.
Bank National Association, a corporation, and that the instrument was signed in behalf of the said corporation by authority of its board of directors and acknowledged said instrument to be its voluntary act and deed. Before me: 

 

	
	Notary Public

  

	
	Name: _______________________
	NOTARY PUBLIC-OREGON
	COMMISSION ________________
	MY COMMISSION EXPIRES ______________

 EXHIBIT A 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

 

			
	CUSIP/CINS                 		
		
	2.250% Senior Notes due 2020		
		
	No.             		$                     
		
	 PRECISION CASTPARTS CORP.
  

promises to pay to                     

 
 or registered assigns,

 
 the principal sum of
                    
		
		
	Dollars on June 15, 2020.		
		
	Interest Payment Dates: June 15 and December 15		
		
	Record Dates: June 1 and December 1		

  

							
	Dated: June 10, 2015				PRECISION CASTPARTS CORP.
				
					By:		 
					Name: [    ]
					Title: [    ]

  

									
	Attest:								
					
	By:		 						(SEAL)
	Name: [    ]						
	Title: [    ]						

 Dated: June 10, 2015 
 This
is one of the Notes of the series designated therein referred to in the within-mentioned Indenture: 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,

    as Trustee

		
	By:		 
			Authorized Signatory

  
 A-1 

 [Back of Note] 
  

	2.250%	Senior Notes due 2020 

 Precision Castparts Corp., a corporation duly organized and existing under the laws of
Oregon (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                     or registered assigns, the principal sum of              Dollars on
June 15, 2020 and to pay interest thereon from June 10, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on June 15 and December 15 in each year, commencing
December 15, 2015, at the rate of 2.250% per annum, until the principal hereof is paid or made available for payment and (to the extent that the payment of such interest shall be legally enforceable) at the rate of 2.250% per annum on
any overdue principal and premium and on any overdue installment of interest. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name
this Note is registered at the close of business on the Regular Record Date for such interest, which shall be the June 1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such
interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at
the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be
paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in
said Indenture. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months. 
 Payment of the principal of (and premium,
if any) and interest on this Note will be made at the office or agency of the Company maintained for that purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by
wire transfer to an account maintained by the Person entitled thereto as specified in the Security Register, provided that such Person shall have given the Trustee written wire instructions. 

Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
 This Note is one of a duly authorized issue of securities of the Company (herein called the
“Notes”), issued and to be issued in one or more series under an Indenture, dated as of December 17, 1997, as amended by indentures supplemental thereto (the “Indenture”, which term as used herein includes the
twenty-seventh supplemental indenture dated June 10, 2015, establishing the title, form and terms of $550,000,000 aggregate principal amount of the Company’s 2.250% 

  
 A-2 

 
Senior Notes due 2020) among the Company and U.S. Bank National Association (successor in interest to The First National Bank of Chicago), as Trustee (herein called the “Trustee”, which
term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the
Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, the initial principal amount of which is
$550,000,000, but the aggregate amount of which is unlimited. 
 The Indenture contains provisions for defeasance at any time of the entire Indebtedness of
this Note or certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time
Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair
the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

The Notes of this series are issuable only in registered form without coupons in denominations of $2,000 or any integral multiple of $1,000 in excess of
$2,000. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Security Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay a sum sufficient to cover any taxes and fees required by law or permitted by the Indenture. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on
the Notes and the Trustee may use CUSIP 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. 

  
 A-3 

 Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

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

  
 A-4 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:		 
			(Insert assignee’s legal name)

  
  

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

 
  

 
  

 
  

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

to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:
                                        

  

	
	Your Signature:
	  

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

 Signature Guarantee*:
                                         
                
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another
Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

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

  
 A-6 

 EXHIBIT B 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

 

			
	CUSIP/CINS                     		
		
	3.250% Senior Notes due 2025		
		
	No.         		$                             
		
	 PRECISION CASTPARTS CORP.
  

promises to pay to
                                        

  
 or registered assigns,

 
 the principal sum of
                                        

		
		
	Dollars on June 15, 2025.		
		
	Interest Payment Dates: June 15 and December 15		
		
	Record Dates: June 1 and December 1		
		
	Dated: June 10, 2015		PRECISION CASTPARTS CORP.
		
			By:
                                         
               
			Name: [    ]
			Title: [    ]
		
	Attest:		
		
	By:
                                        
		(SEAL)
	Name: [    ]		
	Title: [    ]		

 Dated: June 10, 2015 
 This
is one of the Notes of the series designated therein referred to in the within-mentioned Indenture: 
 U.S. BANK NATIONAL ASSOCIATION, 

    as Trustee 
 By:
                                         
                            

      Authorized Signatory 

  
 B-1 

 [Back of Note] 
  

	3.250%	Senior Notes due 2025 

 Precision Castparts Corp., a corporation duly organized and existing under the laws of
Oregon (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    or registered assigns, the principal sum of
                    Dollars on June 15, 2025 and to pay interest thereon from June 10, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semiannually on June 15 and December 15 in each year, commencing December 15, 2015, at the rate of 3.250% per annum, until the principal hereof is paid or made available for
payment and (to the extent that the payment of such interest shall be legally enforceable) at the rate of 3.250% per annum on any overdue principal and premium and on any overdue installment of interest. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Regular Record Date for such interest, which shall be the
June 1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on
which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months.

 Payment of the principal of (and premium, if any) and interest on this Note will be made at the office or agency of the Company maintained for that
purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto as specified in the Security
Register, provided that such Person shall have given the Trustee written wire instructions. 
 Unless the certificate of authentication hereon has been
executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one
or more series under an Indenture, dated as of December 17, 1997, as amended by indentures supplemental thereto (the “Indenture”, which term as used herein includes the twenty-seventh supplemental indenture dated June 10,
2015, establishing the title, form and terms of $850,000,000 aggregate principal amount of the Company’s 3.250%  

  
 B-2 

 
Senior Notes due 2025) among the Company and U.S. Bank National Association (successor in interest to The First National Bank of Chicago), as Trustee (herein called the “Trustee”, which
term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the
Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, the initial principal amount of which is
$850,000,000, but the aggregate amount of which is unlimited. 
 The Indenture contains provisions for defeasance at any time of the entire Indebtedness of
this Note or certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time
Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair
the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

The Notes of this series are issuable only in registered form without coupons in denominations of $2,000 or any integral multiple of $1,000 in excess of
$2,000. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Security Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay a sum sufficient to cover any taxes and fees required by law or permitted by the Indenture. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on
the Notes and the Trustee may use CUSIP 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. 

  
 B-3 

 Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

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

  
 B-4 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 (I) or (we)
assign and transfer this Note to:
                                         
                                         
                                         
                   
 (Insert assignee’s
legal name) 
  
  

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

 
  

 
  

 
  

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

 

	
	Your Signature:
	
	  

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

 Signature Guarantee*:
                                        

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 B-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another
Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

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

  
 B-6 

 EXHIBIT C 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

 

					
	CUSIP/CINS                             				
			
	4.200% Senior Notes due 2035				
			
	No.         				$                                   
          
			
	 PRECISION CASTPARTS CORP.
  

promises to pay to
                                         
                       
  

or registered assigns,
  

the principal sum of
                                         
                     
				
			
	Dollars on June 15, 2035.				
			
	Interest Payment Dates: June 15 and December 15				
			
	Record Dates: June 1 and December 1				
		
	Dated: June 10, 2015		PRECISION CASTPARTS CORP.
			
			By:		  

			Name: [    ]
			Title: [    ]

  

					
	Attest:				
		
	By:
                                         
                           		(SEAL)
	Name: [    ]		
	Title: [    ]		

 Dated: June 10, 2015 
 This
is one of the Notes of the series designated therein referred to in the within-mentioned Indenture: 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
as Trustee

		
	By:		 
			Authorized Signatory

  

  
 C-1 

 [Back of Note] 
  

	4.200%	Senior Notes due 2035 

 Precision Castparts Corp., a corporation duly organized and existing under the laws of
Oregon (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
            or registered assigns, the principal sum of             Dollars on June 15, 2035 and to pay interest thereon
from June 10, 2015 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually on June 15 and December 15 in each year, commencing December 15, 2015, at the rate of
4.200% per annum, until the principal hereof is paid or made available for payment and (to the extent that the payment of such interest shall be legally enforceable) at the rate of 4.200% per annum on any overdue principal and premium and
on any overdue installment of interest. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note is registered at the close of
business on the Regular Record Date for such interest, which shall be the June 1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record
Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner
not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Interest on the Notes shall be
computed on the basis of a 360-day year of twelve 30-day months. 
 Payment of the principal of (and premium, if any) and interest on this Note will be made
at the office or agency of the Company maintained for that purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided,
however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the
Person entitled thereto as specified in the Security Register, provided that such Person shall have given the Trustee written wire instructions. 
 Unless
the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one
or more series under an Indenture, dated as of December 17, 1997, as amended by indentures supplemental thereto (the “Indenture”, which term as used herein includes the twenty-seventh supplemental indenture dated June 10,
2015, establishing the title, form and terms of $275,000,000 aggregate principal amount of the Company’s 4.200%  

  
 C-2 

 
Senior Notes due 2035) among the Company and U.S. Bank National Association (successor in interest to The First National Bank of Chicago), as Trustee (herein called the “Trustee”, which
term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the
Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, the initial principal amount of which is
$275,000,000, but the aggregate amount of which is unlimited. 
 The Indenture contains provisions for defeasance at any time of the entire Indebtedness of
this Note or certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and
payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Notes at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time
Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair
the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

The Notes of this series are issuable only in registered form without coupons in denominations of $2,000 or any integral multiple of $1,000 in excess of
$2,000. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Security Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay a sum sufficient to cover any taxes and fees required by law or permitted by the Indenture. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on
the Notes and the Trustee may use CUSIP 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. 

  
 C-3 

 Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

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

  
 C-4 

 ASSIGNMENT FORM 

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

                          
                                         
                                         
        (Insert assignee’s legal name) 
  

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

 
  
  

 
  

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

and irrevocably appoint                    
                                         
                                         
                                         
                               

to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:
                                     

 

			
	Your Signature:
			  

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

 Signature Guarantee*:
                                         
                        
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 C-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another
Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of

Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Note	  	Amount of
increase in
Principal
Amount of this
Global Note	  	Principal
Amount of this
Global Note
following such
decrease (or
increase)	  	Signature of
authorized
officer of Trustee
or Note
Custodian

 

  
 C-6 

 EXHIBIT D 

[Insert the Global Note Legend, if applicable pursuant to the provisions of the Indenture] 

CUSIP/CINS                        
              
 4.375% Senior Notes due 2045 

 

					
	 No.         
				$                     

PRECISION CASTPARTS CORP. 
 promises to pay
to                                        
      
 or registered assigns, 

the principal sum
of                                        
      
 Dollars on June 15, 2045. 

Interest Payment Dates: June 15 and December 15 

Record Dates: June 1 and December 1 
  

							
			
	Dated: June 10, 2015				 PRECISION CASTPARTS CORP.

				
					By:		 
					Name: [    ]
					Title: [    ]
							
				
							(SEAL)

 Attest: 
  

			
	By:		 
	Name: [    ]
	Title: [    ]

 Dated: June 10, 2015 
 This
is one of the Notes of the series designated therein referred to in the within-mentioned Indenture: 
 U.S. BANK NATIONAL ASSOCIATION, 

    as Trustee 
  

			
	By:		 
			Authorized Signatory

  
 D-1 

 [Back of Note] 

4.375% Senior Notes due 2045 
 Precision Castparts Corp., a
corporation duly organized and existing under the laws of Oregon (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    or registered assigns, the principal sum of
                    Dollars on June 15, 2045 and to pay interest thereon from June 10, 2015 or from the most recent Interest Payment Date
to which interest has been paid or duly provided for, semiannually on June 15 and December 15 in each year, commencing December 15, 2015, at the rate of 4.375% per annum, until the principal hereof is paid or made available for
payment and (to the extent that the payment of such interest shall be legally enforceable) at the rate of 4.375% per annum on any overdue principal and premium and on any overdue installment of interest. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Regular Record Date for such interest, which shall be the
June 1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on
which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day months.

 Payment of the principal of (and premium, if any) and interest on this Note will be made at the office or agency of the Company maintained for that
purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or by wire transfer to an account maintained by the Person entitled thereto as specified in the Security
Register, provided that such Person shall have given the Trustee written wire instructions. 
 Unless the certificate of authentication hereon has been
executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one or more
series under an Indenture, dated as of December 17, 1997, as amended by indentures supplemental thereto (the “Indenture”, which term as used herein includes the twenty-seventh supplemental indenture dated June 10, 2015,
establishing the title, form and terms of $325,000,000 aggregate principal amount of the Company’s 4.375% Senior Notes due 2045) among the Company and U.S. Bank National Association (successor in

  
 D-2 

 
interest to The First National Bank of Chicago), as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes
are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, the initial principal amount of which is $325,000,000, but the aggregate amount of which is unlimited. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Note or certain restrictive covenants and Events of Default
with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes
of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company
and the rights of the Holders of the Notes of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding of each
series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive
compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon
all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute
and unconditional, to pay the principal of and any premium and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

The Notes of this series are issuable only in registered form without coupons in denominations of $2,000 or any integral multiple of $1,000 in excess of
$2,000. The transfer of the Notes may be registered and the Notes may be exchanged as provided in the Indenture. The Security Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay a sum sufficient to cover any taxes and fees required by law or permitted by the Indenture. 

Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on
the Notes and the Trustee may use CUSIP 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. 

  
 D-3 

 Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the
Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

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

  
 D-4 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:		 
			(Insert assignee’s legal name)

   
  

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

 
  

 
  

 
  

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

			
	and irrevocably appoint		 

 to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

Date:                      

 

			
	Your Signature:
		
			  

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

 Signature
Guarantee*:                                  

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 D-5 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another
Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of

Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global Note	  	Amount of
increase in
Principal
Amount of this
Global Note	  	Principal
Amount of
this Global
Note
following such
decrease (or
increase)	  	Signature of
authorized
officer of Trustee
or Note
Custodian

  
 D-6EX-4.1

 Exhibit 4.1 

SUPPLEMENTAL INDENTURE RELATING TO THE NOTES 

THIS SUPPLEMENTAL INDENTURE, dated as of June 5, 2015 (this “Supplemental Indenture”), is by and among Berry Plastics
Corporation, a Delaware corporation (the “Issuer”) and U.S. Bank National Association, as trustee (the “Trustee”). 

WHEREAS, the Issuer, the Guarantors and the Trustee are party to that certain Indenture, dated as of November 19, 2010, providing for the issuance
of 9.75% Second Priority Senior Secured Notes due 2021 (the “Securities”), as supplemented (the “Indenture”); 

WHEREAS, Section 9.02 of the Indenture provides that the Indenture may be amended with the written consent of the Holders of at least a majority
in principal amount of the Securities then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange for the Securities) (subject to certain exceptions); 

WHEREAS, the Issuer desires and has requested the Trustee to join with it in entering into this Supplemental Indenture for the purpose of amending the
Indenture in certain respects as permitted by Section 9.02 of the Indenture; 
 WHEREAS, the execution and delivery of this Supplemental
Indenture has been authorized by the Board of Directors of the Issuer; 
 WHEREAS, the Issuer has received the consent of the Holders of at least a
majority in principal amount of the outstanding Securities (including after giving effect to Section 13.06 of the Indenture) and has satisfied all other conditions precedent, if any, provided under the Indenture to enable the Issuer and the
Trustee to enter into this Supplemental Indenture, all as certified by an Officers’ Certificate, delivered to the Trustee simultaneously with the execution and delivery of this Supplemental Indenture; and 

NOW, THEREFORE, in consideration of the above premises, each party hereby agrees, for the benefit of the others and for the equal and ratable benefit
of the Holders of the Securities, as follows: 
 SECTION 1. Capitalized Terms. Capitalized terms used herein but not defined shall have
the meanings assigned to them in the Indenture. 
 SECTION 2. Amendments to the Indenture. The Indenture is hereby amended by deleting
the following sections of the Indenture and all references thereto in the Indenture in their entirety: 
  

			
		
	Section 4.03		(Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock)
		
	Section 4.04		(Limitation on Restricted Payments)
		
	Section 4.05		(Dividend and Other Payment Restrictions Affecting Subsidiaries)
		
	Section 4.06		(Asset Sales)

			
		
	 Section 4.07
		(Transactions with Affiliates
		
	 Section 4.08
		(Change of Control)
		
	 Section 4.10
		(Further Instruments and Acts)
		
	 Section 4.12
		(Liens)
		
	 Section 4.13
		(Maintenance of Office or Agency)
		
	 Sections 5.01(a)(iii)

and (iv)
		(When Issuer May Merge or Transfer Assets)
		
	 Sections 6.01(c), (d),

(e) and (h)
		(Events of Default)

 SECTION 3. Defined Terms. Any terms defined in the Indenture which are used in any Sections of the
Indenture which are deleted by any Section of this Supplemental Indenture and which are not otherwise used in any other Section of the Indenture not affected by this Supplemental Indenture are hereby deleted. 

SECTION 4. Severability. In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 5. Successors.
All agreements of the Issuer and the Trustee in this Supplemental Indenture shall bind their respective successors. 
 SECTION 6.
Effectiveness. The provisions of Sections 2 and 3 of this Supplemental Indenture shall be effective at the time that the Issuer accepts for purchase a majority in principal amount of the outstanding Securities issued under the Indenture,
excluding any Securities held by the Issuer, any Guarantor, or any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any Guarantor. 

SECTION 7. Endorsement and Change of Form of Notes. Any Securities authenticated and delivered after the close of business on the date that
this Supplemental Indenture becomes effective may be affixed to, stamped, imprinted or otherwise legended by the Trustee, with a notation as follows: 

“Effective as of June 5, 2015, substantially all of the restrictive covenants in the indenture have been eliminated and certain of the Events of
Default and related provisions have been eliminated or modified, as provided in the Supplemental Indenture, dated as of June 5, 2015. Reference is hereby made to said Supplemental Indenture, copies of which are on file with the Trustee, for a
description of the amendments made therein.” 

 SECTION 8. Ratification of Indenture; Supplemental Indenture Part of 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 Securities heretofore or hereafter authenticated and delivered shall be bound hereby. Except as amended hereby, the Indenture and the Securities are in all respects ratified and confirmed and all the terms, conditions
and provisions thereof shall remain in full force and effect. Subject to Section 13.01 of the Indenture, in the case of conflict between the Indenture and this Supplemental Indenture, the provisions of this Supplemental Indenture shall control.

 SECTION 9. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.  
 SECTION 10. 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. 
 SECTION 11. Effect of Headings. The Section headings
herein are for convenience only and shall not effect the construction of this Supplemental Indenture. 
 [The rest of this page has been
intentionally left blank] 

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

			
	BERRY PLASTICS CORPORATION
		
	By:    		/s/ Jason K. Greene
			Name: Jason K. Greene
			Title: Executive Vice President, General Counsel and Secretary
	
	U. S. BANK NATIONAL ASSOCIATION
		
	By:    		/s/ Beverly A. Freeney
			Name: Beverly A. Freeney
			Title: Vice President

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