Document:

Monaker Group, Inc. 8-K

 

Exhibit 10.2

 

1

 

THIS WARRANT AND THE
SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
APPLICABLE STATE SECURITIES LAW. THIS WARRANT OR SUCH SHARES MAY NOT BE SOLD, DISTRIBUTED, PLEDGED, OFFERED FOR SALE, ASSIGNED,
TRANSFERRED, OR OTHERWISE DISPOSED OF UNLESS: (A) THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE
STATE SECURITIES LAW COVERING ANY SUCH TRANSACTION INVOLVING SAID SECURITIES; (B) THE COMPANY (DEFINED BELOW) RECEIVES AN
OPINION OF LEGAL COUNSEL FOR THE HOLDER OF THIS WARRANT STATING THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION AND SUCH OPINION
IS IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY; OR (C) PURSUANT TO RULE 144 UNDER SUCH ACT.

WARRANT

TO PURCHASE COMMON STOCK OF

MONAKER GROUP, INC.

THIS IS TO CERTIFY that, as of the Date
for value received and subject to the provisions hereinafter set forth, Name, or its assigns (the “Holder”),
is entitled to purchase from MONAKER GROUP, INC., a Nevada corporation (the “Company”), at a price of $
per share, subject to adjustment as herein provided (as may be adjusted, the “Warrant Price”), ____shares
of Common Stock of the Company (“Common Stock”), less the number of shares purchased by the Holder upon the exercise
of this Warrant from time to time as noted on Schedule A hereto (the number of shares available for purchase hereunder at any time,
subject to adjustment as hereinafter provided, is referred to as the “Warrant Number”).

1.       

Exercise of Warrant.

1.1.       

Terms of Exercise. Subject to the
conditions hereinafter set forth, this Warrant may be exercised in whole at any time, or in part from time to time, by the Holder
hereof, by the surrender of this Warrant, together with written instructions as to the number of shares to be purchased, at the
principal office of the Company Weston, Florida or at such other office as the Company may designate by written notice to the Holder
hereof within the above-mentioned period and upon payment to the Company of the aggregate Warrant Price (or the proportionate part
thereof if exercised in part) for the shares so purchased in current funds. This Warrant and all rights hereunder shall expire
and shall be null and void to the extent not exercised before this Warrant expires Expiration Date (the “Expiration
Date”).

1.2.        Payment
of Exercise Price; Payment for the Warrants may be made in cash, by certified or official bank check.

    	 

    	 

    

 

2

 

1.3.       

Partial Exercise. Each time this
Warrant shall be exercised in respect of fewer than all of the shares of Common Stock at the time purchasable hereunder (and there
shall be no limitation on the number of times the Holder may partially exercise this Warrant), and upon surrender of this Warrant
by the Holder to the Company upon exercise, then, at the election of the Company, either (i) the Holder hereof shall be entitled
to receive a replacement Warrant covering the number of shares in respect of which this Warrant shall not have been exercised and
setting forth the aggregate Warrant Price applicable to such shares, which replacement Warrant shall be identical in all respects
to this Warrant except for the date of issuance and the number of shares issuable upon the exercise thereof, or (ii) the Company
shall make a notation on Schedule A hereto reflecting the number of shares of Common Stock purchased upon any exercise hereof.

1.4       

Issuance of Certificate. The shares
of Common Stock so purchased shall be deemed to be issued to the Holder, as the record owner of such shares, as of the close of
business on the date on which this Warrant shall have been surrendered, the completed exercise agreement shall have been delivered,
and payment shall have been made for such shares as set in Section 1.2 above. Certificates for the shares of Common Stock
so purchased, representing the aggregate number of shares specified in the exercise agreement, shall be delivered to the Holder
within a reasonable time, not exceeding ten (10) business days, after this Warrant shall have been so exercised. The certificates
so delivered shall be in such denominations as may be reasonably requested by the Holder and shall be registered in the name of
the Holder. If this Warrant shall have been exercised only in part, then, unless this Warrant has expired, the Company shall, at
its expense, at the time of delivery of such certificates, deliver to the Holder a new warrant representing the number of shares
of Common Stock with respect to which this Warrant shall not then have been exercised.

1.5       

Exercise Period. This Warrant may
be exercised any time before 5:00 p.m., Eastern Standard time, on the Expiration Date.

2.       

Reservation of Common Stock.
The Company covenants and agrees that during the period within which the rights represented by this Warrant may be exercised, the
Company will at all times have authorized, and in reserve, a sufficient number of shares of its Common Stock to provide for the
exercise of the rights represented by this Warrant.

3.       

Protection Against Dilution.
The Warrant Number is subject to adjustment from time to time upon the occurrence of the events enumerated in, or as otherwise
provided in, this Section 3.

3.1       

Adjustment for Change in Capital
Stock. If the Company:

(1)       

pays a dividend or makes a distribution
on its Common Stock in shares of its Common Stock;

(2)       

subdivides or reclassifies its outstanding
shares of Common Stock into a greater number of shares;

(3)       

combines or reclassifies its outstanding
shares of Common Stock into a smaller number of shares;

(4)       

makes a distribution on its Common
Stock in shares of capital stock other than Common Stock; or

    	 

    	 

    

 

3

 

(5)       

issues by reclassification of its
Common Stock any shares of its capital stock;

then the Warrant Number in effect immediately prior to such
action shall be proportionately adjusted so that the Holder may receive the aggregate number and kind of shares of capital stock
of the Company or other capital stock which such Holder would have owned immediately following such action if such Warrant had
been exercised immediately prior to such action. If, as a result of any adjustment pursuant to this Section 3.1, the Holder shall
become entitled to receive shares of two or more classes or series of securities of the Company or otherwise, the Board of Directors
of the Company shall equitably determine the allocation of the adjusted Warrant Price between or among such classes or series.

The adjustment shall become effective
immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case
of a subdivision, combination or reclassification.

Such adjustment shall be made successively
whenever any event listed above shall occur.

3.2       

Notice of Adjustment. Whenever the
Warrant Number is adjusted, the Company shall provide notice thereof to the Holder.

3.3       

Additional Adjustments.

In the event of any and all adjustments
to the Warrant Number in accordance with this Section 3, the per share Warrant Price shall be adjusted so that it is equal to the
quotient of (a) the aggregate Warrant Price and (b) the Warrant Number as adjusted.

4.       

Mergers, Consolidations, Sales; Non-Impairment
of Rights. The Company will not, by amendment of its Articles of Incorporation or through any reorganization, recapitalization,
transfer of assets, consolidation, merger, dissolution, issuance or sale of securities or any other voluntary action, avoid or
seek to avoid the performance of any of the terms of this Warrant, but will at all times in good faith take all necessary action
to carry out the intent of all such terms. Without limiting the generality of the foregoing, the Company (a) will not cause
the par value of any securities receivable on exercise of this Warrant to be in excess of the amount payable therefor on such exercise,
and (b) will take all action as may be necessary or appropriate so that the Company may validly and legally issue fully paid and
nonassessable shares (or other securities or property deliverable hereunder) upon the exercise of this Warrant.

    	 

    	 

    

 

4

 

This Warrant shall bind the successors
and assigns of the Company. In the case of any consolidation or merger of the Company with another entity, or the sale of all or
substantially all of its assets to another entity, or any reorganization or reclassification of the Common Stock or other equity
securities of the Company (except a split up or combination, provision for which is made in Section 3), then, as a condition of
such consolidation, merger, sale, reorganization or reclassification, lawful and adequate provision shall be made whereby the Holder
of this Warrant shall thereafter have the right to receive upon the basis and upon the terms and conditions specified herein and
in lieu of the shares of Common Stock immediately theretofore purchasable hereunder, such shares of stock, securities or assets
as may (by virtue of such consolidation, merger, sale, reorganization or reclassification) be issued or payable with respect to
or in exchange for a number of outstanding shares of Common Stock equal to the number of shares of Common Stock immediately theretofore
so purchasable hereunder had such consolidation, merger, sale, reorganization or reclassification not taken place, and in any such
case appropriate provision shall be made with respect to the rights and interests of the Holder of this Warrant to the end that
the provisions hereof (including, without limitation, provisions for adjustment of the Warrant Number and the per share Warrant
Price) shall thereafter be applicable as nearly as may be, in relation to any shares of stock, securities or assets thereafter
deliverable upon exercise of this Warrant. The Company shall not effect any such consolidation, merger or sale, unless prior to
or simultaneously with the consummation thereof, the successor entity (if other than the Company) resulting from such consolidation
or merger or the entity purchasing such assets shall assume by written instrument the obligation to deliver to the Holder such
shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder may be entitled to receive.

Notwithstanding the foregoing, if any
event occurs as to which the other provisions of this Warrant are not strictly applicable or if strictly applicable would not fairly
protect the purchase rights of this Warrant in accordance with the essential intent and principles of such provisions, then the
Board of Directors shall make an adjustment in the application of such provisions, in accordance with such essential intent and
principles, in order to protect such purchase rights, and shall provide notice thereof to the Holder of this Warrant.

5.       

Dissolution or Liquidation.
In the event of any proposed distribution of the assets of the Company in dissolution or liquidation (except under circumstances
when the foregoing Section 4 shall be applicable) the Company shall mail notice thereof to the Holder of this Warrant and shall
make no distribution to shareholders until the expiration of 30 days from the date of mailing of the aforesaid notice and, in any
such case, the Holder of this Warrant may exercise this Warrant within 30 days from the date of mailing such notice, and all rights
herein granted not so exercised within such 30 day period shall thereafter become null and void.

6.       

Fractional Shares. The Company
shall not issue any fractional shares nor scrip representing fractional shares upon exercise of any portion of this Warrant.

7.       

Fully Paid Stock; Taxes. The
Company covenants and agrees that the shares of stock represented by each and every certificate for its Common Stock to be delivered
on any exercise of this Warrant shall, at the time of such delivery, be duly authorized, validly issued and outstanding and be
fully paid and nonassessable. The Company further covenants and agrees that it will pay when due and payable any and all federal
and state taxes, other than taxes on income, which may be payable in respect of this Warrant or any Common Stock or certificates
therefor upon the exercise of the rights herein provided for pursuant to the provisions hereof. The Company shall not, however,
be required to pay any tax which may be payable in respect of any transfer involved in the transfer and delivery of stock certificates
in the name other than that of the Holder of the Warrant converted, and any such tax shall be paid by such Holder at the time of
presentation.

    	 

    	 

    

 

5

 

8.       

Closing of Transfer Books.
The Holder of this Warrant shall continue to have the right to exercise this Warrant even during a period when the stock transfer
books of the Company for its Common Stock are closed. The Company shall not be required, however, to deliver certificates of its
Common Stock upon such exercise while such books are duly closed for any purpose, but the Company may postpone the delivery of
the certificates for such Common Stock until the opening of such books, and they shall, in such case, be delivered forthwith upon
the opening thereof, or as soon as practicable thereafter.

9.       

Assignments. The Holder
shall be permitted to assign, sell or otherwise transfer this Warrant, subject to the Company’s receipt of an opinion of
counsel to the Holder, which counsel and which opinion shall be reasonably acceptable to the Company, to the effect that such assignment,
sale or other transfer is permitted under applicable state and federal securities laws.

10.       

Lost, Stolen Warrants, etc.
In case any Warrant shall be mutilated stolen or destroyed, the Company may issue a new Warrant of like date, tenor and denomination
and deliver the same in exchange and substitution for and upon surrender and cancellation of any mutilated Warrant, or in lieu
of any Warrant lost, stolen or destroyed, upon receipt of evidence satisfactory to the Company of the loss, theft or destruction
of such Warrant, and upon receipt of indemnity satisfactory to the Company.

11.       

Warrant Holder Not Shareholder.
This Warrant does not confer upon the Holder hereof any right to vote or to consent or to receive notice as a shareholder of the
Company, as such, in respect of any matters whatsoever, or any other rights or liabilities as a shareholder, prior to the exercise
hereof as hereinbefore provided.

12.       

Payment of Expenses.
The Company shall reimburse the Holder of this Warrant for all costs and expenses incurred by such Holder (including without limitation
the legal fees of the Holder) in connection with: (i) the negotiation, preparation, execution and delivery of this Warrant
and the other agreements to be executed in connection herewith; (ii) the issuance of certificates for shares of Common Stock
upon the exercise of this Warrant; and (iii) the enforcement by the Holder of this Warrant. The Company shall pay any issuance
tax in connection with the issuance of certificates for the shares of Common Stock upon the exercise of the Warrant; provided,
however, that the Holder shall be responsible for any income or other taxes in connection with such issuance.

13.       

Severability. Should any part
of this Warrant for any reason be declared invalid, such decision shall not affect the validity of any remaining portion, which
remaining portion shall remain in force and effect as if this Warrant had been executed with the invalid portion thereof eliminated,
and it is hereby declared the intention of the parties hereto that they would have executed and accepted the remaining portion
of this Warrant without including therein any such part, parts or portion which may, for any reason, be hereafter declared invalid.

14.       

Notice. All notices and other
communications required or permitted to be given under any Agreement shall be personally delivered or shall be sent by certified
mail, return receipt requested, postage prepaid, overnight delivery or confirmed facsimile transmission to the Company at its principal
address in Fort Lauderdale, Florida and to the Holder of this Warrant at that Holder’s address in the records of the Company
or, as to either party or any subsequent Holder of this Warrant, to such other address and/or facsimile number as such party designates
by written notice to the other party or parties. [Signature Page Follows]

    	 

    	 

    

 

6

 

IN WITNESS WHEREOF, the Company has caused
this Warrant to be signed and attested by its duly authorized officers as of the day and year first set forth above.

 

	 	Monaker Group, Inc.
	 	 
	 	 
	 	By:	 	 
	 	 	William Kerby
	 	 	Chief Executive Officer

 

    	 

    	 

    

 

7

 

Schedule A

Shares of Common Stock Purchased
Upon Exercise

 

	Date of Exercise 	
         

        Number of Shares
	Signature of an authorized officer of Monaker Group, Inc.	
        Signature of the Holder of the Warrant

	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    	 

    	 

    

 

8

 

ASSIGNMENT

FOR VALUE RECEIVED _________________________hereby
sells, assigns and transfers unto _______________________ the within Warrant and all rights evidenced thereby and does irrevocably
constitute and appoint __________________________, attorney, to transfer the said Warrant on the books of the within named Company. 

	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	 	 
	 	Its:	 	 

 

	Dated:	 	 	 

 

 

    	 

    	 

    

 

9

 

PARTIAL ASSIGNMENT

FOR VALUE RECEIVED ______________________________
hereby sells, assigns and transfers unto _______________________________ that portion of the within Warrant and the rights evidenced
thereby which will an the date hereof entitle the holder to purchase __________ shares of Common Stock of Monaker Group Inc., and
does hereby irrevocably constitute and appoint __________________________, attorney, to transfer that part of the said Warrant
on the books of the within named Company.

 

	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	 	 	 
	 	Its:	 	 

 

	Dated:	 	 	 

 

 

    	 

    	 

    

 

10

 

SUBSCRIPTION

(To be completed and signed only upon
an exercise of the Warrant in whole or in part)

TO: Monaker Group, Inc..:

Attn: Gesarela Miller

954.888.9082 fax or gmiller@monakergroup.com

The undersigned, the holder of the attached
Warrant, hereby irrevocably elects to exercise the purchase right represented by the Warrant for, and to purchase thereunder, ______shares
of Common Stock (or other securities or property), and herewith makes payment of $_______ therefor in cash, by certified
or official bank check or such other form of payment as may be permitted under the Warrant. The undersigned hereby requests that
the Certificate(s) for such securities be issued in the name(s) and delivered to the address(es) as follows:

	Name:	 	 
	 	 
	Address:	 	 
	 	 
	Social Security Number:	 	 
	 	 
	Deliver to:	 	 
	 	 
	Address:	 	 

If the foregoing Subscription evidences
an exercise of the Warrant to purchase fewer than all of the Shares (or other securities or property) to which the undersigned
is entitled under such Warrant, please issue a new Warrant, of like date and tenor, for the remaining portion of the Warrant (or
other securities or property) in the name(s), and deliver the same to the address(ee’s), as follows:

	Name:	 	 
	 	 
	Address:	 	 
	 	 
	 	 	 
	 	 
	(Social Security or Taxpayer ID of Holder)	(Name of Holder)	 
	 	 
	 	 	 

DATED: _____________________, 20___ ____________________________________

(Signature of Holder or Authorized Signatory)

Signature Guaranteed:EX-4.1

 Exhibit 4.1 

Execution Copy 
  

 
 Twenty-Ninth Supplemental
Indenture 
 Dated as of March 10, 2017 

Supplement to the Amended and Restated Indenture 

Dated as of April 22, 2005 
  

 
 PACIFIC GAS
AND ELECTRIC COMPANY 
 Issuer 

and 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A. 
 Trustee 
  

 
  

 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
			
		 	ARTICLE I DEFINITIONS	  	 	2	 
			
		 	ARTICLE II ESTABLISHMENT OF THE 3.30% SENIOR NOTES; TERMS	  	 	4	 
				
		 	SECTION 201	  	Establishment and Designation of the 3.30% Senior Notes.	  	 	4	 
				
		 	SECTION 202	  	Form of the 3.30% Senior Notes.	  	 	4	 
				
		 	SECTION 203	  	Principal Amount of the 3.30% Senior Notes.	  	 	5	 
				
		 	SECTION 204	  	Interest Rates; Stated Maturity of the 3.30% Senior Notes; Minimum Denomination.	  	 	5	 
				
		 	SECTION 205	  	No Sinking Fund.	  	 	5	 
				
		 	SECTION 206	  	Paying Agent and Bond Registrar.	  	 	5	 
				
		 	SECTION 207	  	Global Securities; Appointment of Depositary for Global Securities.	  	 	5	 
				
		 	SECTION 208	  	Optional Redemption of 3.30% Senior Notes.	  	 	6	 
				
		 	SECTION 209	  	Other Terms of the 3.30% Senior Notes.	  	 	7	 
			
		 	ARTICLE III REOPENING OF 4.00% SENIOR NOTES	  	 	7	 
			
		 	ARTICLE IV MISCELLANEOUS	  	 	7	 
				
		 	SECTION 401	  	Concerning the Trustee.	  	 	7	 
				
		 	SECTION 402	  	Application of Twenty-Ninth Supplemental Indenture.	  	 	7	 
				
		 	SECTION 403	  	Effective Date of Twenty-Ninth Supplemental Indenture.	  	 	7	 
				
		 	SECTION 404	  	Counterparts.	  	 	8	 
			
	EXHIBIT A	  		  			
			
	 EXHIBIT B
	  		  			

  
 i 

 TWENTY-NINTH SUPPLEMENTAL INDENTURE, dated as of March 10, 2017 (this “Twenty-Ninth
Supplemental Indenture”), by and between PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of California (the “Company” or the
“Issuer”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association organized and existing under the laws of the United States of America (formerly
known as The Bank of New York Trust Company, N.A.), as Trustee under the Base Indenture (as hereinafter defined) (the “Trustee”). 

RECITALS OF THE COMPANY 

A. The Company and the Trustee are parties to that certain Amended and Restated Indenture, dated as of April 22, 2005 (the “Base
Indenture”), as supplemented by the First Supplemental Indenture, dated as of March 13, 2007 (the “First Supplemental Indenture”), the Second Supplemental Indenture, dated as of December 4, 2007 (the “Second
Supplemental Indenture”), the Third Supplemental Indenture, dated as of March 3, 2008 (the “Third Supplemental Indenture”), the Fourth Supplemental Indenture, dated as of October 21, 2008 (the “Fourth Supplemental
Indenture”), the Fifth Supplemental Indenture, dated as of November 18, 2008 (the “Fifth Supplemental Indenture”), the Sixth Supplemental Indenture, dated as of March 6, 2009 (the “Sixth Supplemental Indenture”),
the Seventh Supplemental Indenture, dated as of June 11, 2009 (the “Seventh Supplemental Indenture”), the Eighth Supplemental Indenture, dated as of November 18, 2009 (the “Eighth Supplemental Indenture”), the Ninth
Supplemental Indenture, dated as of April 1, 2010 (the “Ninth Supplemental Indenture”), the Tenth Supplemental Indenture, dated as of September 15, 2010 (the “Tenth Supplemental Indenture”), the Eleventh Supplemental
Indenture, dated as of October 12, 2010 (the “Eleventh Supplemental Indenture”), the Twelfth Supplemental Indenture, dated as of November 18, 2010 (the “Twelfth Supplemental Indenture”), the Thirteenth Supplemental
Indenture, dated as of May 13, 2011 (the “Thirteenth Supplemental Indenture”), the Fourteenth Supplemental Indenture, dated as of September 12, 2011 (the “Fourteenth Supplemental Indenture”), the Fifteenth Supplemental
Indenture, dated as of November 22, 2011 (the “Fifteenth Supplemental Indenture”), the Sixteenth Supplemental Indenture, dated as of December 1, 2011 (the “Sixteenth Supplemental Indenture”), the Seventeenth
Supplemental Indenture, dated as of April 16, 2012 (the “Seventeenth Supplemental Indenture”), the Eighteenth Supplemental Indenture, dated as of August 16, 2012 (the “Eighteenth Supplemental Indenture”), the Nineteenth
Supplemental Indenture, dated as of June 14, 2013 (the “Nineteenth Supplemental Indenture”), the Twentieth Supplemental Indenture, dated as of November 12, 2013 (the “Twentieth Supplemental Indenture”), the Twenty-First
Supplemental Indenture, dated as of February 21, 2014 (the “Twenty-First Supplemental Indenture”), the Twenty-Second Supplemental Indenture, dated as of May 12, 2014 (the “Twenty-Second Supplemental Indenture”), the
Twenty-Third Supplemental Indenture, dated as of August 18, 2014 (the “Twenty-Third Supplemental Indenture”), the Twenty-Fourth Supplemental Indenture, dated as of November 6, 2014 (the “Twenty-Fourth Supplemental
Indenture”), the Twenty-Fifth Supplemental Indenture, dated as of June 12, 2015 (the “Twenty-Fifth Supplemental Indenture”), the Twenty-Sixth Supplemental Indenture, dated as of November 5, 2015 (the “Twenty-Six Supplemental Indenture”), the Twenty-Seventh Supplemental Indenture, dated as of March 1, 2016 (the “Twenty-Seventh Supplemental Indenture”), the Twenty-Eighth Supplemental
Indenture, dated as of December 1, 2016 (the “Twenty-Eighth Supplemental Indenture”) and this Twenty-Ninth Supplemental Indenture (this “Twenty-Ninth Supplemental Indenture,” and together with the Base Indenture,

 
the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental
Indenture, the Seventh Supplemental Indenture, the Eighth Supplemental Indenture, the Ninth Supplemental Indenture, the Tenth Supplemental Indenture, the Eleventh Supplemental Indenture, the Twelfth Supplemental Indenture, the Thirteenth
Supplemental Indenture, the Fourteenth Supplemental Indenture, the Fifteenth Supplemental Indenture, the Sixteenth Supplemental Indenture, the Seventeenth Supplemental Indenture, the Eighteenth Supplemental Indenture, the Nineteenth Supplemental
Indenture, the Twentieth Supplemental Indenture and the Twenty-First Supplemental Indenture, the Twenty-Second Supplemental Indenture, the Twenty-Third Supplemental Indenture, the Twenty-Fourth Supplemental Indenture, the Twenty-Fifth Supplemental
Indenture, and the Twenty-Sixth Supplemental Indenture, the Twenty-Seventh Supplemental Indenture, the Twenty-Eighth Supplemental Indenture, the “Indenture”), which supplements, amends and restates that certain Indenture of Mortgage, dated
as of March 11, 2004, as supplemented by the First Supplemental Indenture thereto, dated as of March 23, 2004 and the Second Supplemental Indenture thereto, dated as of April 12, 2004, providing for the issuance by the Company of an
unlimited number of series of Bonds (as defined in the Base Indenture) from time to time. 
 B. Under the Base Indenture, the Company is
authorized to establish one or more series of Bonds at any time in accordance with and subject to the provisions of the Base Indenture, and the terms of such series of Bonds may be described by a supplemental indenture executed by the Company and
the Trustee. 
 C. The execution and delivery of this Twenty-Ninth Supplemental Indenture has been authorized by a Board Resolution (as
defined in the Base Indenture). 
 D. Concurrent with the execution hereof, the Company has caused its counsel to deliver to the Trustee an
Opinion of Counsel (as defined in the Base Indenture) pursuant to Section 13.03 of the Base Indenture, together with the documents required under Article V of the Base Indenture. 

E. The Company has done all things necessary to make this Twenty-Ninth Supplemental Indenture a valid agreement of the Company, in accordance
with its terms. 
 NOW, THEREFORE, the Company and the Trustee agree, for the benefit of each other and for the equal and proportionate
benefit of Holders of the 3.30% Senior Notes and the 4.00% Senior Notes (each as defined below) with respect to all provisions herein applicable to each such series of notes, as follows: 

ARTICLE I 
 DEFINITIONS

 Unless the context otherwise requires, capitalized terms used but not defined herein have the meaning set forth in the Indenture. The
following additional terms are hereby established for purposes of this Twenty-Ninth Supplemental Indenture and shall have the meanings set forth in this Twenty-Ninth Supplemental Indenture only for purposes of this Twenty-Ninth Supplemental
Indenture: 
 “4.00% Senior Notes” has the meaning set forth in Article III hereto. 

  
 2 

 “3.30% Senior Notes” has the meaning set forth in Section 201
hereto. 
 “Adjusted Treasury Rate” means, with respect to any Redemption Date for any 3.30% Senior Notes,
the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for such Redemption Date. 
 “Comparable Treasury Issue” means the United States Treasury security selected
by the Quotation Agent as having a maturity comparable to the remaining term of the 3.30% Senior Notes to be redeemed, assuming, for such purpose, that the 3.30% Senior Notes matured on December 15, 2026 (the date that is three months prior to
the maturity date) (the “remaining term”), that would be used, 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.

 “Comparable Treasury Price” means, with respect to any Redemption Date for any 3.30% Senior Notes,
(1) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations or (2) if the Company obtains fewer than four Reference Treasury
Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received. 
 “Original Issue
Date” means March 10, 2017. 
 “Primary Treasury Dealer” means a primary U.S. Government
Securities dealer in the United States. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the
Company. 
 “Redemption Price” means the price at which 3.30% Senior Notes may be redeemed pursuant to Section
208(a) or Section 208(b) hereto, as applicable. 
 “Reference Treasury Dealer” means (1) each of BNP
Paribas Securities Corp., Goldman, Sachs & Co., RBC Capital Markets, LLC and Wells Fargo Securities, LLC, and their respective successors, unless any of them ceases to be a Primary Treasury Dealer, in which case the Company shall substitute
another Primary Treasury Dealer; and (2) any other Primary Treasury Dealer selected by the Company. 
 “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 that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. For purposes of this definition
only, “Business Day” means any day that is not a day on which banking institutions in New York City are authorized or required by law or regulation to close. 

  
 3 

 “Remaining Scheduled Payments” means, with respect to each of the
3.30% Senior Notes that the Company is redeeming pursuant to Section 208(a) hereto, the remaining scheduled payments of principal and interest that would be due after the applicable Redemption Date if such 3.30% Senior Notes were not redeemed.
However, if the Redemption Date is not a scheduled Interest Payment Date with respect to such 3.30% Senior Notes, the amount of the next succeeding scheduled interest payment on such 3.30% Senior Notes will be reduced by the amount of interest
accrued on such 3.30% Senior Notes to the Redemption Date. 
 “U.S. Government Securities” means securities
which are (a) direct obligations of the United States of America for the payment on which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the
United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation of the United States of America, and which in the case of (a) and (b) are not callable or redeemable at the option of the issuer
thereof, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Security or a specific payment of interest on or principal of any such U.S. Government Security held by such
custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount
received by the custodian in respect of the U.S. Government Security evidenced by such depositary receipt. 
  

 
 The words
“herein,” “hereof” and “hereunder” and other words of similar import refer to this Twenty-Ninth Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

ARTICLE II 
 ESTABLISHMENT OF
THE 3.30% SENIOR NOTES; TERMS 
 SECTION 201 Establishment and Designation
of the 3.30% Senior Notes. 
 Pursuant
to the terms hereof and Section 3.01 of the Indenture, the Company hereby establishes a fifty-third series of Bonds designated as the “3.30% Senior Notes due March 15, 2027” (the “3.30% Senior Notes”). The 3.30% Senior
Notes may be reopened, from time to time, for issuances of additional Bonds of such series, and any additional Bonds issued and comprising 3.30% Senior Notes shall have identical terms as the 3.30% Senior Notes, except that the issue price, issue
date and, in some cases, the first Interest Payment Date may differ. 
 SECTION 202 Form of
the 3.30% Senior Notes. 
 The 3.30% Senior Notes shall be
issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit A hereto. 

  
 4 

 SECTION 203 Principal Amount of
the 3.30% Senior Notes. 
 The 3.30% Senior Notes shall be
issued in an initial aggregate principal amount of $400,000,000. 
 SECTION 204 Interest Rates;
Stated Maturity of the 3.30% Senior Notes; Minimum
Denomination. 
 The 3.30% Senior Notes shall bear interest at the rate of 3.30% per annum and shall have a Stated
Maturity of March 15, 2027. 
 The 3.30% Senior Notes are issuable in denomination of $2,000 and any integral multiple of $1,000 in
excess thereof. 
 SECTION 205 No Sinking Fund. 

No sinking fund is provided for the 3.30% Senior Notes. 

SECTION 206 Paying Agent and Bond Registrar.

 The Trustee is hereby appointed as initial Paying Agent and initial Bond Registrar for the 3.30% Senior Notes. The Place of Payment of
the 3.30% Senior Notes shall be the Corporate Trust Office of the Trustee. 
 SECTION 207 Global
Securities; Appointment of Depositary for Global Securities. 

The 3.30% Senior Notes shall be issued in the form of one or more permanent Global Bonds as provided in Section 3.13 of the Indenture and
deposited with, or on behalf of, the Depositary, or with the Trustee, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee. 

The Company hereby initially appoints The Depository Trust Company (“DTC”) to act as the Depositary with respect to all 3.30% Senior
Notes, and the 3.30% Senior Notes shall initially be registered in the name of Cede & Co., as the nominee of DTC. 
 The Company
and DTC have executed a Blanket Letter of Representations, and the Trustee is hereby authorized, in connection with any successor nominee for DTC or any successor Depositary, to enter into appropriate or comparable arrangements, if necessary, and
shall have the same rights with respect to its actions thereunder as it has with respect to its actions under the Indenture. 
 None of the
Company, the Trustee, any Paying Agent or any Bond Registrar will have any responsibility or liability for any aspect of Depositary records relating to, or payments made on account of, beneficial ownership interests in a Global Bond or for
maintaining, supervising or 

  
 5 

 
reviewing any Depositary records relating to such beneficial ownership interests, or for transfers of beneficial interests in the Bonds or any transactions between the Depositary and beneficial
owners. 
 SECTION 208 Optional Redemption of 3.30%
Senior Notes. 
 (a) Subject to the terms and conditions of the Indenture, at any time prior to
December 15, 2026 (the date that is three months prior to the Maturity Date), the 3.30% Senior Notes are redeemable at the option of the Company in whole or in part at a Redemption Price equal to the greater of: 

(i) 100% of the principal amount of the 3.30% Senior Notes to be redeemed; or 

(ii) as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and
interest on the 3.30% Senior Notes to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date), calculated as if the Maturity Date of such 3.30% Senior Notes was December 15, 2026 (the date that is three
months prior to the Maturity Date), discounted to the Redemption Date on a semiannual basis at the Adjusted Treasury Rate, plus 15 basis points; 
 plus, in
either of the above cases, accrued and unpaid interest thereon to but not including the Redemption Date. 
 (b) Subject to the terms and
conditions of the Indenture, at any time on or after December 15, 2026 (the date that is three months prior to the Maturity Date), the 3.30% Senior Notes are redeemable at the option of the Company in whole or in part at 100% of the principal
amount of the 3.30% Senior Notes to be redeemed, plus accrued and unpaid interest thereon to but not including the Redemption Date. 
 (c)
The Redemption Price shall be calculated assuming a 360-day year consisting of twelve 30-day months. 

(d) The Company shall calculate the Redemption Price for the redemption of any 3.30% Senior Notes pursuant to Section 208(a) or Section
208(b), and notify the Trustee of such Redemption Price before it sends the amount of the Redemption Price to the Trustee or any Paying Agent. 

(e) Notice of any redemption pursuant to Section 208(a) or Section 208(b) shall be given to Holders of the 3.30% Senior Notes not less than
ten (10) days nor more than sixty (60) days prior to the Redemption Date in the manner set forth in Section 6.04 of the Indenture and by e-mail to the Depositary; provided, however, that such
notice need not state the dollar amount of the Redemption Price if such dollar amount has not been determined as of the date such notice is being given to the Holders of the 3.30% Senior Notes being redeemed. Notwithstanding Section 6.02 of the
Indenture, if the Company elects to redeem 3.30% Senior Notes pursuant to Section 208(a) or Section 208(b) hereof, it shall give written notice to the Trustee of such Redemption Date and of the principal amount of the 3.30% Senior Notes to be
redeemed at least twenty (20) days prior to the redemption date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee). 

  
 6 

 SECTION 209 Other Terms of
the 3.30% Senior Notes. 
 The other terms of the 3.30%
Senior Notes shall be as expressly set forth herein and in Exhibit A. 
 ARTICLE III 

REOPENING OF 4.00% SENIOR NOTES 

Pursuant to Section 301 of the Twenty-Eighth Supplemental Indenture, the fifty-second series of Bonds established by said section and
designated as the “4.00% Senior Notes due December 1, 2046” (the “4.00% Senior Notes”) is reopened and additional Bonds comprising part of such series shall be issued in the aggregate principal amount of $200,000,000 and
shall be issued in the form of one or more Global Bonds in substantially the form set forth in Exhibit B hereto. As a result of the further issuance of $200,000,000 aggregate principal amount of Bonds of the fifty-second series on March 10,
2017, the issued amount of Bonds of such series now totals $600,000,000. 
 ARTICLE IV 

MISCELLANEOUS 
 SECTION
401 Concerning the Trustee. 
 In acting under and by virtue of this Twenty-Ninth Supplemental Indenture, the Trustee shall have all
of the rights, protections and immunities given to it in the Base Indenture. The Trustee shall have no responsibility for the validity or sufficiency of this Twenty-Ninth Supplemental Indenture. 

SECTION 402 Application of Twenty-Ninth Supplemental
Indenture. 
 Except as provided herein, each and every term and condition contained in this Twenty-Ninth Supplemental
Indenture that modifies, amends or supplements the terms and conditions of the Indenture shall apply only to the 3.30% Senior Notes and the 4.00% Senior Notes, as applicable, and not to any other series of Bonds established under the Indenture.
Except as specifically amended and supplemented by, or to the extent inconsistent with, this Twenty-Ninth Supplemental Indenture, the Indenture shall remain in full force and effect and is hereby ratified and confirmed. 

SECTION 403 Effective Date of Twenty-Ninth
Supplemental Indenture. 
 This Twenty-Ninth Supplemental Indenture shall be effective upon the
execution and delivery hereof by each of the parties hereto. 

  
 7 

 SECTION 404 Counterparts. 

This Twenty-Ninth Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Twenty-Ninth Supplemental Indenture to be
duly executed by their respective officers hereunto duly authorized, all as of the day and year first above written. 
  

			
	 PACIFIC GAS AND ELECTRIC COMPANY,

as Issuer

		
	By:	 	 /s/ Nicholas M. Bijur

	Name:	 	Nicholas M. Bijur
	Title:	 	Vice President and Treasurer
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

		
	By:	 	 /s/ Valère D. Boyd

	Name:	 	Valère D. Boyd
	Title:	 	Vice President

  
 Signature Page to Twenty-Ninth
Supplemental Indenture 

 EXHIBIT A 

FORM OF 3.30% SENIOR NOTES DUE MARCH 15, 2027 

THIS SENIOR NOTE IS A BOND AND A GLOBAL BOND WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SENIOR NOTES IN DEFINITIVE FORM, THIS SENIOR NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF
THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS SENIOR NOTE CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SENIOR NOTE CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE
INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $400,000,000
	 	 ORIGINAL ISSUE DATE:

March 10, 2017
	 	INTEREST RATE: 3.30% per annum
			
	 MATURITY DATE:
  

March 15, 2027
	 	 INTEREST PAYMENT DATES:
  

March 15 and September 15, commencing September 15, 2017
	 	 THIS SENIOR NOTE IS A:
  

☒ Global Book-Entry Bond
 ☐ Certificated
Bond

			
	REGISTERED OWNER: Cede & Co., as nominee of The Depository Trust Company	 		 	

  
 A-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

3.30% SENIOR NOTES DUE MARCH 15, 2027 

(Fixed Rate) 
  

			
	 No. R-1

CUSIP No: 694308HS9
	  	Principal Amount: $400,000,000

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., as
nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in the case of a 3.30%
Senior Note due March 15, 2027 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest Payment
Dates set forth above and on the Maturity Date stated above, commencing September 15, 2017 at the rate of 3.30% per annum until the principal hereof is paid or made available for payment. 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 3.30% Senior Note due March 15, 2027 (this “Senior Note,” and together with all other 3.30% Senior Notes due
March 15, 2027, the “Senior Notes”) (or one or more Predecessor Bonds) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1st and September 1st preceding such Interest Payment
Date; provided, however, that interest payable at the Maturity Date or on a Redemption Date will be paid to the Person to whom principal is payable. 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 Senior Note (or one or more Predecessor Bonds) 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 Senior Notes 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 the Indenture and any securities exchange, if any, on which the Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Indenture. 

Payments of interest on this Senior Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest
payments for this Senior Note shall be computed and paid on the basis of the 360-day year of twelve 30-day months and will accrue from March 10, 2017 or from the
most recent Interest Payment Date to which interest has been paid or duly provided for. In the event that any date on which interest is payable on this Senior Note (other than the Maturity Date) is not a Business Day then payment of the interest
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same force and effect as if made on the

  
 A-2 

 
date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding
Business Day, and no interest on such payment shall accrue for the period from and after maturity. 
 Payment of principal of, premium, if
any, and interest on Senior Notes shall be made 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. Payments of principal of, premium, if any, and interest on
the Senior Notes represented by a Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first
surrendered to the Paying Agent. If any of the Senior Notes are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or earlier redemption of such Senior Notes shall be made
at the office of the Paying Agent upon surrender of such Senior Notes to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the
address of the Person entitled thereto as such address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Senior Notes at such place and to such account at a banking
institution in the United States as such Holders may designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SENIOR NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
  

									
	 Dated: March     , 2017
	 		 		 		 	
			
		 		 	PACIFIC GAS AND ELECTRIC COMPANY
				
		 		 	By:	 	  

		 		 		 	Name:	 	David S. Thomason
		 		 		 	Title:	 	Vice President, Chief Financial Officer and Controller
				
		 		 	By:	 	  

		 		 		 	Name:	 	Nicholas M. Bijur
		 		 		 	Title:	 	Vice President and Treasurer

  
 A-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This Senior Note is one of the Bonds of the series designated as Bonds of the Fifty-Third Series referred to in the within-mentioned
Indenture. 
  

							
	 Dated: March     , 2017
	 		 		 	
			
		 		 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., As Trustee
				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

  
 A-5 

 Reverse of Senior Note 

This 3.30% Senior Note due March 15, 2027 is one of a duly authorized issue of Bonds of the Company, issued and issuable in one or more
series under an Amended and Restated Indenture, dated as of April 22, 2005 (the “Base Indenture”), as heretofore supplemented and as further supplemented by a Twenty-Ninth Supplemental Indenture, dated as of March 10, 2017 (as so
supplemented, and together with all additional indentures supplemental thereto, and any constituent instruments establishing the terms of particular Bonds, being herein called the “Indenture”), between the Company and The Bank of New York
Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a
description of the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the terms and conditions upon which Bonds are, and are to be, authenticated and delivered. This
Senior Note is a Bond within the meaning of the Indenture and is one of the Bonds of the fifty-third series designated as the 3.30% Senior Notes due March 15, 2027 established by the Company under the Indenture. The acceptance of this Senior
Note shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. 

Subject to the terms and conditions of the Indenture, the Senior Notes are redeemable at the option of the Company (“Optional
Redemption”), in whole or in part, (a) at any time prior to December 15, 2026 (the date that is three months prior to the Maturity Date) at a Redemption Price equal to the greater of: 

(i) 100% of the principal amount of the Senior Notes to be redeemed; or 

(ii) as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and
interest on the Senior Notes to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date), calculated as if the Maturity Date of such Senior Notes was December 15, 2026 (the date that is three months
prior to the Maturity Date), discounted to the Redemption Date on a semi-annual basis at the Adjusted Treasury Rate, plus 15 basis points, 
 plus, in
either of the above cases, accrued and unpaid interest thereon to but not including the Redemption Date; and (b) at any time on or after December 15, 2026 (the date that is three months prior to the Maturity Date) at 100% of the principal
amount of the Senior Notes to be redeemed, plus accrued and unpaid interest thereon to but not including the Redemption Date. 
 Interest
installments whose Stated Maturity is on or prior to such Redemption Date will be payable to Holders of such Senior Notes, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the face
hereof, all as provided in the Indenture. 
 In the case of an Optional Redemption, notice of redemption will be in writing and mailed
first-class postage-prepaid not less than 10 days nor more than 60 days prior to the Redemption Date to each Holder of Senior Notes to be redeemed at the Holder’s registered 

  
 A-6 

 
address; provided, however, that such notice need not state the dollar amount of the Redemption Price if such dollar amount has not been determined as of the date such notice is being given to
the Holders of the Senior Notes being redeemed. If money sufficient to pay the Redemption Price of all Senior Notes (or portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent or the Trustee on or prior to the
Redemption Date, from and after such Redemption Date such Senior Notes or portions thereof shall cease to bear interest. Senior Notes in denominations larger than $2,000 in principal amount may be redeemed in part but only in integral multiples of
$1,000. 
 In the event of redemption of this Senior Note in part only, a new Senior Note or Senior Notes of like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the surrender hereof. 
 As provided in the Indenture and subject to
certain limitations therein set forth, this Senior Note or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding thereunder, and the Company’s entire
indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible
Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay
when due the principal of and premium, if any, and interest on this Senior Note when due. 
 If an Event of Default shall occur and be
continuing, the Trustee or the Holders of not less than 33% in aggregate principal amount of the Outstanding Bonds, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice
in writing to the Company (and to the Trustee if given by Holders); provided, however, that with respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be
due and payable immediately without further action by the Trustee or the Holders. 
 The Indenture permits, with certain exceptions as
therein provided, the Company and the Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the
Holders of not less than a majority in aggregate principal amount of the Bonds at the time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Indenture and if a
proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of
all series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the
rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected, considered as one
class, shall be required; and provided, further, that the Indenture permits the Company and the Trustee to enter into one or more supplemental 

  
 A-7 

 
indentures for certain purposes without the consent of any Holders of Bonds. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of Bonds, on
behalf of the Holders of all such Bonds, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Senior Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Senior Note and of any Senior 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 Senior Note. 

As provided in and subject to the provisions of the Indenture, the Holder of this Senior Note shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default, the Holders of
at least 33% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and
the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds at the time Outstanding a direction inconsistent with such written request, and shall have failed to institute any such proceeding for
60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Senior Note for the enforcement of any payment of principal hereof or any premium or interest hereon on
or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Senior 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 Senior Note at the times, place and rate, and in the coin or currency, herein
prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Senior Note is
registrable in the Bond Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Senior Note are payable, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and
thereupon one or more new Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in excess
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes are exchangeable for a like aggregate principal amount of Senior Notes and of like tenor of a different authorized denomination, as requested by
the Holder surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

  
 A-8 

 The Company shall not be required to execute or to provide for the registration of the transfer
of or the exchange of (A) any Senior Note of this series during a period of 15 days immediately preceding the date notice is to be given identifying the serial numbers of the Senior Notes called for redemption, or (B) any Senior Note
selected for redemption in whole or in part, except the unredeemed portion of any Senior Note being redeemed in part. 
 Prior to due
presentment of this Senior 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 Senior Note is registered as the owner hereof for all purposes, whether or not
this Senior Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This
Senior Note shall be governed by, and construed and enforced in accordance with, the laws of the State of California without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be
applicable. 
 As provided in the Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with
respect to this Senior Note, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the Indenture, against any incorporator,
shareholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any
constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Bonds are solely corporate obligations and that any such
personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of this Senior Note. 

All terms used in this Senior Note which are not defined herein shall have the meanings assigned to them in the Indenture. 

  
 A-9 

 ASSIGNMENT FORM 
  

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

	
	  

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

	
	  

	
	  

	
	  

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

	to transfer this Senior 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 Senior Note)

					
			
		 	Tax Identification No.:	 	  

		
		 	SIGNATURE GUARANTEE:

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

  
 A-10 

 EXHIBIT B 

FORM OF 4.00% SENIOR NOTES DUE DECEMBER 1, 2046 

THIS SENIOR NOTE IS A BOND AND A GLOBAL BOND WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SENIOR NOTES IN DEFINITIVE FORM, THIS SENIOR NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF
THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS SENIOR NOTE CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SENIOR NOTE CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE FOLLOWING SUMMARY OF TERMS IS SUBJECT TO THE
INFORMATION SET FORTH ON THE REVERSE HEREOF: 
  

					
	 PRINCIPAL AMOUNT:
 $200,000,000
	 	 ORIGINAL ISSUE DATE:

March 10, 2017
	 	INTEREST RATE: 4.00% per annum
			
	 MATURITY DATE:
  

December 1, 2046
	 	 INTEREST PAYMENT DATES:
  

June 1 and December 1, commencing June 1, 2017
	 	 THIS SENIOR NOTE IS A:
  

☒ Global Book-Entry Bond
 ☐ Certificated
Bond

			
	REGISTERED OWNER: Cede & Co., as nominee of The Depository Trust Company	 		 	

  
 B-1 

 PACIFIC GAS AND ELECTRIC COMPANY 

4.00% SENIOR NOTES DUE DECEMBER 1, 2046 

(Fixed Rate) 
  

			
	 No. R-2

CUSIP No: 694308HR1
	  	Principal Amount: $200,000,000

 PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of
California (herein called the “Company,” which term includes any successor Person pursuant to the applicable provisions of the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., as
nominee for The Depository Trust Company, or registered assigns, the Principal Amount stated above on the Maturity Date stated above, and to pay interest thereon from and including the Original Issue Date stated above or, in the case of a 4.00%
Senior Note due December 1, 2046 issued upon the registration of transfer or exchange, from and including the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest
Payment Dates set forth above and on the Maturity Date stated above, commencing June 1, 2017 at the rate of 4.00% per annum until the principal hereof is paid or made available for payment. 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 4.00% Senior Note due December 1, 2046 (this “Senior Note,” and together with all other 4.00% Senior Notes due
December 1, 2046, the “Senior Notes”) (or one or more Predecessor Bonds) is registered at the close of business on the Regular Record Date for such interest, which shall be the May 15th and November 15th preceding such Interest
Payment Date; provided, however, that interest payable at the Maturity Date or on a Redemption Date will be paid to the Person to whom principal is payable. 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 Senior Note (or one or more Predecessor Bonds) 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 Senior Notes 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 the Indenture and any securities exchange, if any, on which the Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in said Indenture. 

Payments of interest on this Senior Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest
payments for this Senior Note shall be computed and paid on the basis of the 360-day year of twelve 30-day months and will accrue from December 1, 2016 or from the
most recent Interest Payment Date to which interest has been paid or duly provided for. In the event that any date on which interest is payable on this Senior Note (other than the Maturity Date) is not a Business Day then payment of the interest
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay) with the same force and effect as if made on the

  
 B-2 

 
date the payment was originally payable. If the Maturity Date falls on a day that is not a Business Day, the payment of principal, premium, if any, and interest may be made on the next succeeding
Business Day, and no interest on such payment shall accrue for the period from and after maturity. 
 Payment of principal of, premium, if
any, and interest on Senior Notes shall be made 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. Payments of principal of, premium, if any, and interest on
the Senior Notes represented by a Global Bond shall be made by wire transfer of immediately available funds to the Holder of such Global Bond, provided that, in the case of payments of principal and premium, if any, such Global Bond is first
surrendered to the Paying Agent. If any of the Senior Notes are no longer represented by a Global Bond, (i) payments of principal, premium, if any, and interest due on the Maturity Date or earlier redemption of such Senior Notes shall be made
at the office of the Paying Agent upon surrender of such Senior Notes to the Paying Agent, and (ii) payments of interest shall be made, at the option of the Company, subject to such surrender where applicable, (A) by check mailed to the
address of the Person entitled thereto as such address shall appear in the Bond Register or (B) by wire transfer to registered Holders of at least $10,000,000 in principal amount of Senior Notes at such place and to such account at a banking
institution in the United States as such Holders may designate in writing to the Trustee at least sixteen (16) days prior to the date for payment. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SENIOR NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 B-3 

 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed. 
  

									
	 Dated: March     , 2017
	 		 		 		 	
			
		 		 	PACIFIC GAS AND ELECTRIC COMPANY
				
		 		 	By:	 	  

		 		 		 	Name:	 	David S. Thomason
		 		 		 	Title:	 	Vice President, Chief Financial Officer and Controller
				
		 		 	By:	 	  

		 		 		 	Name:	 	Nicholas M. Bijur
		 		 		 	Title:	 	Vice President and Treasurer

  
 B-4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This Senior Note is one of the Bonds of the series designated as Bonds of the Fifty-Second Series referred to in the within-mentioned
Indenture. 
  

							
	 Dated: March     , 2017
	 		 		 	
			
		 		 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., As Trustee
				
		 		 	By:	 	  

		 		 		 	Authorized Signatory

  
 B-5 

 Reverse of Senior Note 

This 4.00% Senior Note due December 1, 2046 is one of a duly authorized issue of Bonds of the Company, issued and issuable in one or more
series under an Amended and Restated Indenture, dated as of April 22, 2005 (the “Base Indenture”), as heretofore supplemented and as further supplemented by a Twenty-Eighth Supplemental Indenture, dated as of December 1, 2016,
and a Twenty-Ninth Supplemental Indenture, dated as of March 10, 2017 (as so supplemented, and together with all additional indentures supplemental thereto, and any constituent instruments establishing the terms of particular Bonds, being
herein called the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), and reference is hereby made to the Indenture for a description of the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of Bonds thereunder and of the
terms and conditions upon which Bonds are, and are to be, authenticated and delivered. This Senior Note is a Bond within the meaning of the Indenture and is one of the Bonds of the fifty-second series designated as the 4.00% Senior Notes due
December 1, 2046 established by the Company under the Indenture and initially issued in an aggregate principal amount of $400,000,000 on December 1, 2016. As a result of the further issuance of $200,000,000 aggregate principal amount of
Bonds of the fifty-second series on March 10, 2017, the issued amount of Bonds of such series now totals $600,000,000. The acceptance of this Senior Note shall be deemed to constitute the consent and agreement by the Holder hereof to all of the
terms and provisions of the Indenture. 
 Subject to the terms and conditions of the Indenture, the Senior Notes are redeemable at the
option of the Company (“Optional Redemption”), in whole or in part, (a) at any time prior to June 1, 2046 (the date that is six months prior to the Maturity Date) at a Redemption Price equal to the greater of: 

(i) 100% of the principal amount of the Senior Notes to be redeemed; or 

(ii) as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and
interest on the Senior Notes to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date), calculated as if the Maturity Date of such Senior Notes was June 1, 2046 (the date that is six months prior to
the Maturity Date), discounted to the Redemption Date on a semi-annual basis at the Adjusted Treasury Rate, plus 20 basis points, 
 plus, in either of the
above cases, accrued and unpaid interest thereon to but not including the Redemption Date; and (b) at any time on or after June 1, 2046 (the date that is six months prior to the Maturity Date) at 100% of the principal amount of the Senior Notes
to be redeemed, plus accrued and unpaid interest thereon to but not including the Redemption Date. 
 Interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to Holders of such Senior Notes, or one or more Predecessor Bonds, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the
Indenture. 

  
 B-6 

 In the case of an Optional Redemption, notice of redemption will be in writing and mailed
first-class postage-prepaid not less than 10 days nor more than 60 days prior to the Redemption Date to each Holder of Senior Notes to be redeemed at the Holder’s registered address; provided, however, that such notice need not state the dollar
amount of the Redemption Price if such dollar amount has not been determined as of the date such notice is being given to the Holders of the Senior Notes being redeemed. If money sufficient to pay the Redemption Price of all Senior Notes (or
portions thereof) to be redeemed on the Redemption Date is deposited with the Paying Agent or the Trustee on or prior to the Redemption Date, from and after such Redemption Date such Senior Notes or portions thereof shall cease to bear interest.
Senior Notes in denominations larger than $2,000 in principal amount may be redeemed in part but only in integral multiples of $1,000. 
 In
the event of redemption of this Senior Note in part only, a new Senior Note or Senior Notes of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the surrender hereof. 

As provided in the Indenture and subject to certain limitations therein set forth, this Senior Note or any portion of the principal amount
hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding thereunder, and the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably
deposited with the Trustee or any Paying Agent (other than the Company), in trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof,
will provide moneys which, together with money, if any, deposited with or held by the Trustee or such Paying Agent, will be sufficient to pay when due the principal of and premium, if any, and interest on this Senior Note when due. 

If an Event of Default shall occur and be continuing, the Trustee or the Holders of not less than 33% in aggregate principal amount of the
Outstanding Bonds, considered as one class, may declare the principal amount of all Bonds then Outstanding to be due and payable immediately by notice in writing to the Company (and to the Trustee if given by Holders); provided, however, that with
respect to certain Events of Default relating to bankruptcy, insolvency and similar events, the principal amount of all Bonds then Outstanding shall be due and payable immediately without further action by the Trustee or the Holders. 

The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee to enter into one or more supplemental
indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal amount of the Bonds at the
time Outstanding, considered as one class; provided, however, that if there shall be Bonds of more than one series Outstanding under the Indenture and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of
one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all series so directly affected, considered as one class, shall be

  
 B-7 

 
required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental indenture shall directly affect the rights of the
Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so directly affected, considered as one class, shall be
required; and provided, further, that the Indenture permits the Company and the Trustee to enter into one or more supplemental indentures for certain purposes without the consent of any Holders of Bonds. The Indenture also contains provisions
permitting the Holders of a majority in aggregate principal amount of Bonds, on behalf of the Holders of all such Bonds, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this
Senior Note shall be conclusive and binding upon such Holder and upon all future Holders of this Senior Note and of any Senior 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 Senior Note. 
 As provided in and subject to the provisions of the Indenture, the Holder of this
Senior Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default, the Holders of at least 33% in aggregate principal amount of the Bonds at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as
Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of at least a majority in aggregate principal amount of Bonds at the time Outstanding a direction inconsistent with such written request,
and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Senior Note for the enforcement of any
payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein
to the Indenture and no provision of this Senior 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 Senior Note at the
times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Senior Note is registrable in the Bond Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and
interest on this Senior Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder hereof or such
Holder’s attorney duly authorized in writing, and thereupon one or more new Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Senior Notes are issuable only in registered form without coupons in denominations of $2,000 and any integral multiple of $1,000 in excess
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes are exchangeable for a like aggregate principal amount of Senior Notes and of like tenor of a different authorized denomination, as requested by
the Holder surrendering the same. 

  
 B-8 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The
Company shall not be required to execute or to provide for the registration of the transfer of or the exchange of (A) any Senior Note of this series during a period of 15 days immediately preceding the date notice is to be given identifying the
serial numbers of the Senior Notes called for redemption, or (B) any Senior Note selected for redemption in whole or in part, except the unredeemed portion of any Senior Note being redeemed in part. 

Prior to due presentment of this Senior 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 Senior Note is registered as the owner hereof for all purposes, whether or not this Senior Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 This Senior Note shall be governed by, and construed and enforced in accordance with, the laws of the State of California
without regard to the principles of conflicts of laws thereunder, except to the extent that the Trust Indenture Act shall be applicable. 

As provided in the Indenture, no recourse shall be had for the payment of the principal of, premium, if any, or interest with respect to this
Senior Note, or any part thereof, or for any claim based hereon or otherwise in respect hereof, or of the indebtedness represented hereby, or upon any obligation, covenant or agreement under the Indenture, against any incorporator, shareholder,
officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional
provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Bonds are solely corporate obligations and that any such personal liability is
hereby expressly waived and released as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of this Senior Note. 

All terms used in this Senior Note which are not defined herein shall have the meanings assigned to them in the Indenture. 

  
 B-9 

 ASSIGNMENT FORM 
  

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

	
	  

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

	
	  

	
	  

	
	  

	
	  

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

	to transfer this Senior 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 Senior Note)

					
			
		 	Tax Identification No.:	 	  

		
		 	SIGNATURE GUARANTEE:

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

  
 B-10

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