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Exhibit 4(b)    
  

ISSUING AND PAYING AGENCY AGREEMENT  

 between  

 CITY NATIONAL BANK  

 as Issuer,  

 and  

 Continental Stock Transfer & Trust Company  

 as Issuing and Paying Agent,  

 Dated as of January 7, 1998  

  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	 
	 	Page

	ARTICLE I APPOINTMENT	 	1
	

ARTICLE II THE NOTES	
 	

1
	 	 	Section 2.1	 	Form of Notes	 	1
	 	 	Section 2.2	 	Certificates of Authorized Representatives of the Issuer	 	1
	 	 	Section 2.3	 	Completion, Authentication and Delivery	 	2
	 	 	Section 2.4	 	Denominations	 	3
	 	 	Section 2.5	 	Proceeds of Sale of the Notes; Resignation by the Depositary	 	3
	 	 	Section 2.6	 	Registration, Registration of Transfer and Exchange	 	3
	 	 	Section 2.7	 	Persons Deemed Owners	 	4
	 	 	Section 2.8	 	Cancellation of Unissued Global Notes	 	4
	 	 	Section 2.9	 	Mutilated, Lost, Stolen or Destroyed Notes	 	4
	 	 	Section 2.10	 	Notices of Default	 	4
	

ARTICLE III THE ISSUING AND PAYING AGENT	
 	

4
	 	 	Section 3.1	 	Payment of Notes	 	4
	 	 	Section 3.2	 	Information Regarding Amounts Payable	 	4
	 	 	Section 3.3	 	Deposit of Funds	 	5
	 	 	Section 3.4	 	Money for Note Payments to Be Held in Trust	 	5
	 	 	Section 3.5	 	Additional Responsibilities	 	5
	 	 	Section 3.6	 	Miscellaneous	 	5
	 	 	Section 3.7	 	Responsibility for Withholding	 	6
	

ARTICLE IV CALCULATION OF INTEREST	
 	

6
	 	 	Section 4.1	 	Calculation of Floating Interest	 	6
	 	 	Section 4.2	 	Notice of Floating Rate Calculations	 	6
	

ARTICLE V LIABILITY AND INDEMNIFICATION	
 	

6
	 	 	Section 5.1	 	Liability	 	6
	 	 	Section 5.2	 	Indemnification	 	7
	

ARTICLE VI RESIGNATION OR REMOVAL OF ISSUING AND PAYING AGENT	
 	

7
	 	 	Section 6.1	 	Resignation or Removal	 	7
	 	 	Section 6.2	 	Successor Issuing and Paying Agent	 	7
	 	 	Section 6.3	 	Successor by Merger, etc.	 	7
	

ARTICLE VII MISCELLANEOUS	
 	

8
	 	 	Section 7.1	 	Compensation of the Issuing and Paying Agent	 	8
	 	 	Section 7.2	 	Reliance on Opinions of Counsel	 	8
	 	 	Section 7.3	 	Notes Held by Issuing and Paying Agent	 	8
	 	 	Section 7.4	 	Notices	 	8
	 	 	Section 7.5	 	Parties	 	9
	 	 	Section 7.6	 	Governing Law	 	9
	 	 	Section 7.7	 	Separability	 	9
	 	 	Section 7.8	 	Effect of Headings	 	9
	 	 	Section 7.9	 	Defined Terms	 	9
	 	 	Section 7.10	 	Amendments, Modifications	 	9
	 	 	Section 7.11	 	Laws of Other Jurisdictions	 	9
	 	 	Section 7.12	 	Actions Due on Days other than Market Days	 	9
	 	 	Section 7.13	 	Agreement to Pay Attorneys' Fees and Other Expenses	 	9
	 	 	Section 7.14	 	Survival	 	9
	 	 	Section 7.15	 	Force Majeure	 	9
	 	 	Section 7.16	 	Remedies	 	10
	 	 	Section 7.17	 	No Implied Waivers	 	10
	 	 	Section 7.18	 	Counterparts	 	10
	 	 	Section 7.19	 	Term	 	10
	 	 	Section 7.20	 	Times	 	10

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EXHIBITS  

	Exhibit A-l	 	Form of Global Note representing Short-Term Fixed Rate Notes
	

Exhibit A-2	
 	

Form of Global Note representing Medium-Term Fixed Rate Notes
	

Exhibit B-l	
 	

Form of Global Note representing Short-Term Floating Rate Notes
	

Exhibit B-2	
 	

Form of Global Note representing Medium-Term Floating Rate Notes
	

Exhibit C	
 	

Bank Certificate re Authorized Representatives
	

Exhibit D	
 	

Administrative Procedures

ii

  

        This Issuing and Paying Agency Agreement dated as of January 7, 1998, between CITY NATIONAL BANK, a national banking association (the "Issuer"), and Continental Stock
Transfer & Trust Company, a New York corporation, as issuing and paying agent (in such capacity, the "Issuing and Paying Agent"). 

        WHEREAS
the Issuer proposes to issue and sell from time to time its bank notes (the "Notes") none of which is currently outstanding as of the date hereof; 

        WHEREAS
the Notes may be issued as "Senior Bank Notes", which will rank equally with all other unsecured and unsubordinated indebtedness of the Issuer (other than deposits, to the extent
provided by federal law and any applicable state law), or as "Subordinated Bank Notes", which will be subordinated to all present and future claims of depositors and general creditors of the Issuer; 

        WHEREAS
the Notes will be offered for sale by the Issuer through one or more distributors or underwriters for the Issuer (the "Underwriters"), or through one or more additional agents
which the Issuer may appoint after notice to the Issuing and Paying Agent and may also be sold by the Issuer to one or more such Underwriters or additional agents as principals for resale to investors
or by the Issuer directly to investors; 

        NOW,
THEREFORE, the parties agree as follows: 

 
 

ARTICLE I
  APPOINTMENT    
  

        Section 1.1    Appointment of Issuing and Paying Agent.    The Issuing and Paying Agent is hereby appointed as
issuing and paying agent for the Notes on the terms and conditions specified in this Agreement, and the Issuing and Paying Agent hereby accepts such appointment. No series of Notes shall become
subject to this Agreement until the Global Note (as defined below) evidencing the same shall be executed by the Issuer and authenticated by the Issuing and Paying Agent as herein provided. 

 
 

ARTICLE II
  THE NOTES    
  

        Section 2.1    Form of Notes.    Upon issuance, and subject to the provisions of Section 2.4 hereof, all
Fixed Rate Notes having the same Issuance Date, Interest Rate, Interest Payment Dates, Redemption Date(s) (if any), redemption terms (if any), ranking and Maturity Date will be represented by a single
note certificate and all Floating Rate Notes having the same Issue Date, Initial Interest Rate, Interest Rate Basis, Index Maturity, Spread (if any), Spread Multiplier (if any), Minimum Interest Rate
(if any), Maximum Interest Rate (if any), Interest Reset Dates, Interest Reset Period, Redemption Date(s) (if any), redemption terms (if any), Interest Payment Dates, Interest Payment Period, Maturity
Date and ranking which are Senior Bank Notes or Subordinated Bank Notes, as the case may be, will be represented by a single note certificate, each such note certificate hereinafter called a "Global
Note." All Global Notes shall be registered in the name of a nominee of The Depository Trust Company, as depositary (the "Depositary"). All Global Notes representing Fixed Rate Notes shall be in the
form attached hereto as Exhibit A-l (for Global Notes with maturities from 7 days to 1 year ("Short-Term Notes")) or A-2 (for Global Notes with
maturities from 1 year to 30 years ("Medium-Term Notes"), and all Global Notes representing Floating Rate Notes shall be in the form attached hereto as
Exhibit B-l (for Short-Term Notes) or B-2 (for Medium-Term Notes). Beneficial interests in Global Notes will be shown on, and transfers thereof
will be effected only through, records maintained by the Depositary and its participants. 

        Section 2.2    Certificates of Authorized Representatives of the Issuer.    From time to time, the Issuer shall
furnish the Issuing and Paying Agent with a certificate in the form attached hereto as Exhibit C 

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certifying the incumbency and specimen signatures of representatives of the Issuer authorized to instruct the Issuing and Paying Agent on the Issuer's behalf regarding the completion and delivery of
the Notes (each an "Authorized Representative"). The Issuing and Paying Agent shall rely on a subsequent incumbency certificate of the Issuer delivered to the Issuing and Paying Agent for purposes of
determining the Authorized Representatives, effective upon the receipt thereof by the Issuing and Paying Agent. The Issuing and Paying Agent shall have no responsibility to the Issuer to determine
whether a signature of an Authorized Representative is genuine or if such signature resembles the specimen signature of such Authorized Representative on such certificate. 

        Section 2.3    Completion, Authentication and Delivery.    

        (a)  All
Global Notes shall be issued and delivered in accordance with this Agreement, the Global Notes, a Medium-Term Note Letter of Representations in customary
form from the Issuer and the Issuing and Paying Agent to the Depositary, a Short-Term Note Letter of Representations in customary form from the Issuer and the Issuing and Paying Agent to
the Depositary, and a Note Certificate Agreement between the Issuing and Paying Agent and the Depositary in customary form (the "Additional Agreements"), and to the extent not inconsistent therewith
or herewith, the administrative procedures attached hereto as Exhibit D. The Additional Agreements shall be executed and delivered at the time each such series of Notes is to be issued by the
Issuer. However, in the event of a conflict, the terms of the Global Notes shall govern. All instructions regarding the completion and delivery of Notes shall be given by an Authorized Representative
by telex, telecopy, electronic means or other means acceptable to the Issuing and Paying Agent. Upon receipt of instructions as described in the preceding sentence, the Issuing and Paying Agent shall: 

        (1)  complete
a Global Note or Notes representing one or more Notes in accordance with such instructions; 

        (2)  manually
countersign and authenticate such Global Note or Notes by any one of the officers or employees of the Issuing and Paying Agent duly authorized and designated by
it for such purpose; and 

        (3)  deliver
such Global Note to the Depositary or pursuant to the Depositary's instructions. 

        (b)  If
any Note has been countersigned by one of the Issuing and Paying Agent's officers who was duly authorized for such purpose but who is not so designated at the time
said Note is to be paid, the Issuing and Paying Agent is authorized and will pay the Note notwithstanding that the authority of said officer has been terminated between the time of execution and the
time of payment. 

        (c)  In
the event a discrepancy exists between the instructions as originally received by the Issuing and Paying Agent and any subsequent written confirmation thereof, such
subsequent written confirmation will be deemed controlling. 

        (d)  Should
the Issuing and Paying Agent at any time request or receive an opinion of its counsel (which includes internal counsel) concerning its duties hereunder, it shall
be free to act upon the advice contained in such opinion and shall be relieved of any liability under this Agreement in so acting, provided that the Issuing and Paying Agent gives prompt notice to the
Issuer of any such action to be taken upon the advice contained in any such opinion. 

        (e)  All
instructions must be received by the Issuing and Paying Agent by 2:00 p.m., New York City time, on the second Market Day preceding the original issue date.
For purposes hereof, the term "Market Day" shall mean (a) any day that is not a Saturday or Sunday and that, in the City of New York or the State of California is not a day on which banking
institutions or trust companies are generally
authorized or obligated by law or executive order to close and (b) with respect to LIBOR Notes only, any such day on which dealings in deposits in U.S. dollars are transacted in the London
interbank market. 

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        (f)    The
Issuing and Paying Agent shall incur no liability to the Issuer in acting hereunder upon instructions contemplated hereby which the recipient thereof believed in
good faith to have been given by an Authorized Representative. 

        (g)  Each
instruction given to the Issuing and Paying Agent in accordance with this Section 2.3 shall constitute a representation and warranty to the Issuing and
Paying Agent by the Issuer that the issuance and delivery of the Note or Notes to which the instruction relates have been duly and validly authorized by the Issuer, that such Note or Notes when
completed, countersigned, authenticated and delivered pursuant hereto, will constitute valid and legally binding obligations of the Issuer, and that the Issuing and Paying Agent's appointment to act
for the Issuer hereunder has been duly authorized by all necessary corporate action. 

        (h)  The
Issuer further represents and warrants to the Issuing and Paying Agent that it has full corporate power and authority and is duly authorized to enter into the
Agreement and to perform the terms hereof. 

        Section 2.4    Denominations.    Except as provided in Section 2.5(b), the Notes shall be issuable only
in book-entry form, without coupons, in denominations of $250,000 and any amount in excess thereof which is an integral multiple of $1,000. If the principal amount of any issue of Notes
exceeds $200,000,000, a separate Global Note shall be issued for each $200,000,000 of principal amount of Notes and an additional Global Note shall be issued with respect to any remaining principal
amount in accordance with the Additional Agreements. 

        Section 2.5    Proceeds of Sale of the Notes; Resignation by the Depositary.    

        (a)  Funds
received in payment for Notes shall be credited to the Issuer's account. 

        (b)  If
at any time (i) the Depositary notifies the Issuer that it is unwilling or unable to continue as depositary for the Notes or if the Depositary ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed by the Issuer within ninety days after the effective date of the
Depositary's ceasing to act as depositary for the Issuer's Notes, (ii) the Issuer, at its option, notifies the Issuing and Paying Agent in writing that it elects
to cause the issuance of Notes in definitive certificated form or (iii) any event shall have happened and be continuing which, after notice or lapse of time, or both, would constitute an event
of default with respect to the Notes, the Issuer will execute, and the Issuing and Paying Agent will, upon the execution of the then standard form of the Issuing and Paying Agent's agreement for
certificated securities and upon receipt of instructions in writing from the Issuer, authenticate and deliver Notes of like tenor and terms in definitive, certificated form in an aggregate principal
amount equal to the principal amount of the Global Notes then outstanding in exchange for such Global Notes. Any such certificated Notes will be issued in fully registered form to the persons
designated by the Depositary as the beneficial owners thereof, without coupons, in denominations of $250,000 or any amount in excess thereof which is an integral multiple of $1,000. 

        Section 2.6    Registration, Registration of Transfer and Exchange. The Issuing and Paying Agent shall, so long as any of
the Notes remain outstanding, maintain all records as may be customary, including all forms of transfer for the Global Notes and shall: 

        (a)  Keep
at its corporate trust office in New York, New York, a register (the "Note Register") in such form as the Issuing and Paying Agent may determine, in which, subject
to such reasonable regulations as it may prescribe, it shall provide for the registration of the Notes and of transfers thereof; 

        (b)  Maintain
records showing for each outstanding Note the principal amount, maturity date, interest rate or interest rate basis and other terms thereof; the date of
original issue and all subsequent transfers and consolidations or exchanges; provided that the Issuing and Paying Agent shall have no 

3

 

responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a Global Note or for maintaining, supervising or reviewing any
records relating to such beneficial ownership interests, and it shall be fully protected in acting or refraining from acting on any such information provided by the Depositary. 

        (c)  Procure
that all Notes presented for transfer shall be duly endorsed or be accompanied by a written instrument of transfer. 

        (d)  Procure
that each Note shall bear an original issue date which shall remain the same for all Notes subsequently issued upon transfer, exchange or substitution of such
original Note regardless of the date of issuance of any such subsequently issued Note. The Issuing and Paying Agent shall not be required to register the transfer of or exchange any Note after notice
calling such Note or portion thereof for redemption has been mailed or during the fifteen-day period next preceding the mailing of a notice of redemption of any Note. 

        Section 2.7    Persons Deemed Owners.    Prior to due presentment of a Note for registration or transfer, the
Issuer, the Issuing and Paying Agent and any other agent of the Issuer or the Issuing and Paying Agent
may treat the person in whose name such Note is registered in the Note Register (the "Holder") as the owner of the Note for the purpose of receiving payments of principal and interest, if any, and for
all other purposes whatsoever, whether or not such Note be overdue, and neither the Issuer nor the Issuing and Paying Agent shall be affected by notice to the contrary. For purposes of this Agreement,
the Holder of any Global Note shall be and shall be deemed to be the Holder of the Notes represented by such Global Note. 

        Section 2.8    Cancellation of Unissued Global Notes.    Promptly upon the written request of the Issuer, the
Issuing and Paying Agent shall cancel and return to the Issuer all unissued Global Notes so requested in its possession. 

        Section 2.9    Mutilated, Lost, Stolen or Destroyed Notes.    The Issuing and Paying Agent shall obtain the
replacement of mutilated, lost, stolen or destroyed Notes in accordance with the custom and usage of the financial industry. 

        Section 2.10    Notices of Default.    The Issuer will promptly notify the Issuing and Paying Agent of the
occurrence of any Event of Default with respect to any of the Notes and provide copies of such notice in reasonable quantities as requested by the Issuing and Paying Agent. The Issuing and Paying
Agent will promptly mail copies of the notice to the holders of the Notes as their addresses shall appear on the Note Register. 

 
 

ARTICLE III
  THE ISSUING AND PAYING AGENT    
  

        Section 3.1    Payment of Notes.    Payment of principal, premium (if any) and interest on the Notes shall be
made by the Issuing and Paying Agent to the registered Holder of the Notes in the manner and on the dates specified in the Notes from immediately available funds deposited by the Issuer with the
Issuing and Paying Agent for such payments as provided in Section 3.3. The Issuing and Paying Agent shall have no obligation to use its own funds for any such payment or for any other purpose
pursuant to this Agreement. 

        Section 3.2    Information Regarding Amounts Payable.    The Issuing and Paying Agent shall, as soon as
practicable after each Record Date for the payment of interest (other than interest payable at maturity) on any Note, but not later than five Market Days preceding the related Interest Payment Date,
notify the Issuer of the interest to be paid on such Note on the related Interest Payment Date. In addition, the Issuing and Paying Agent shall (i) by the fifteenth day of each month furnish to
the Issuer a list showing for each Note which matures in the next succeeding month the principal and interest 

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payable at maturity of such Note (other than the interest on any Floating Rate Note with an interest rate which resets after such fifteenth day) and (ii) notify the Issuer of the interest
payable at maturity of any such Floating Rate Note as soon as practicable after the final Interest Determination Date (as defined in such Note) for such Floating Rate Note. 

        Section 3.3    Deposit of Funds.    The Issuer shall deposit or cause to be deposited by 12:30 p.m., New
York City time, with the Issuing and Paying Agent (i) on each Interest Payment Date of a Note an amount in immediately available funds sufficient to pay the interest due on such date and
(ii) on the Maturity Date or Redemption Date (if any) of each such Note (as such terms are defined in such Note) an amount in immediately available funds sufficient to pay the principal of such
Note, the premium due thereon (if any) and the interest accrued thereon to such Maturity Date or Redemption Date (if any). 

        Section 3.4    Money for Note Payments to Be Held in Trust.    

        (a)  Subject
to the provisions of subsection (b) of this Section 3.4, all money deposited with the Issuing and Paying Agent pursuant to Section 3.3 shall
be held by it in trust for the benefit of the person or persons entitled thereto until such money is paid to such person or persons in accordance with the provisions of the Notes and this Agreement or
otherwise disposed of as provided herein, but such money need not be segregated from other funds except to the extent required by law. 

        (b)  Any
money deposited with the Issuing and Paying Agent for the payment of the principal of, premium (if any) or interest on any Note that remains unclaimed for one month
after such principal, premium (if any) or interest has become due and payable shall be paid to the Issuer, and the Holder thereof shall thereafter, as an unsecured general creditor, look only to the
Issuer for payment thereof, and all liability of the Issuing and Paying Agent with respect to such money shall thereupon cease. 

        Section 3.5    Additional Responsibilities.    If the Issuer shall ask the Issuing and Paying Agent to perform
any duties not specifically set forth in this Agreement or in the Additional Agreements as duties of the Issuing and Paying Agent (the "Additional Responsibilities") and the Issuing and Paying Agent
chooses to perform such Additional Responsibilities, the Issuing and Paying Agent shall be held to the same standard of care and shall be entitled to all the protective provisions (including, but not
limited to, indemnification) set forth herein. 

        Section 3.6    Miscellaneous.    Notwithstanding anything to the contrary herein or in the Additional
Agreements, 

        (a)  in
paying Notes hereunder, the Issuing and Paying Agent shall be acting as a conduit and shall not be paying Notes for its own account, and in the absence of written
notice from the Issuer, the Issuing and Paying Agent shall be entitled to assume that any such Note presented to it, or deemed presented to it, for payment, is entitled to be so paid; 

        (b)  the
Issuing and Paying Agent may become a purchaser, Holder, transferor or may otherwise own, hold or transfer any beneficial interest in any Notes and may commence or
join in any action which a beneficial owner of a Note is entitled to take without any conflict with its responsibilities pursuant to this Agreement; 

        (c)  the
Issuing and Paying Agent shall not be required to invest any moneys delivered to it pursuant to this Agreement; 

        (d)  the
Issuing and Paying Agent shall have no liability for interest on any moneys received or held by it hereunder; 

        (e)  the
Issuing and Paying Agent shall not be responsible for the correctness of any recital herein or in the Notes or in any offering materials and makes no representations
as to the validity of the Notes and shall incur no responsibility in respect thereto; 

5

 

        (f)    the
Issuing and Paying Agent shall be protected in acting upon any notice, order, requisition, request, consent, certificate, order, opinion (including an opinion of
counsel), affidavit, letter, telegram or other paper or document in good faith deemed by it to be genuine and correct and to have been signed or sent by the proper person or persons; and 

        (g)  any
action taken by the Issuing and Paying Agent pursuant to this Agreement or the Additional Agreements upon the request or authority or consent of any person who at
the time of making such request or giving such authority or consent is the Holder of any Note shall be conclusive and binding upon all future Holders of the same Note and all Notes issued in exchange
therefor or in place thereof. 

        Section 3.7    Responsibility for Withholding.    The Issuing and Paying Agent shall have responsibility for
withholding such taxes on interest paid and reporting income to the Holder(s) of the Notes as is required by law. 

 
 

ARTICLE IV
  CALCULATION OF INTEREST    
  

        Section 4.1    Calculation of Floating Interest.    The Issuing and Paying Agent is hereby designated as
calculation agent (in such capacity, the "Calculation Agent") for the purpose of calculating the CD Rate, the Commercial Paper Rate, the Federal Funds Rate, the Prime Rate, LIBOR, the Treasury Rate,
the J.J. Kenny Rate, the 11th District Cost of Funds Rate and the CMT Rate all in accordance with the terms of the Floating Rate Notes. Such duties shall be "Additional Responsibilities" as defined in
Section 3.5 hereof. 

        Section 4.2    Notice of Floating Rate Calculations.    As promptly as practicable after each Interest
Determination Date for a Floating Rate Note, the Calculation Agent will notify the Issuer of the interest rate which will become effective on the next Interest Reset Date (as defined in such Floating
Rate Note). Upon the request of the Holder of a Floating Rate Note, the Calculation Agent will provide to such Holder the interest rate then in effect and, if determined, the interest rate which will
become effective on the next Interest Reset Date with respect to such Floating Rate Note. 

 
 

ARTICLE V
  LIABILITY AND INDEMNIFICATION    
  

        Section 5.1    Liability.    The Issuing and Paying Agent's duties are ministerial in nature and the Issuing
and Paying Agent shall not have any liability hereunder or under the Additional Agreements except in the case of its negligence or willful misconduct. IN NO EVENT SHALL THE ISSUING AND PAYING AGENT BE
LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, EVEN IF THE ISSUING AND PAYING AGENT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS LIMITATION OF LIABILITY
WILL APPLY REGARDLESS OF THE FORM OF ACTION, INCLUDING WITHOUT LIMITATION, BREACH OF THIS CONTRACT OR TORT (INCLUDING NEGLIGENCE). The duties and obligations of the Issuing and Paying Agent shall be
determined by the express provisions of this Agreement and it shall not be liable except for the performance of such duties and obligations as are specifically set forth herein and no implied
covenants shall be read into this Agreement against it. Except as provided in Section 2.10, the Issuing and Paying Agent shall have no responsibility in the case of any default by the Issuer in
the performance of the covenants contained in the Notes. The Issuing and Paying Agent may refuse to perform any duty or exercise any right or power hereunder unless it receives indemnity satisfactory
to it against any related loss, liability or expense. The Issuing and Paying Agent shall not be required to ascertain whether any issuance or sale of Notes (or any amendment or termination of this
Agreement) has been duly authorized or is in compliance with any other agreement to which the Issuer is a party (whether or not the Issuing and Paying Agent is also a 

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party to such other agreements). Notwithstanding anything to the contrary herein, the Issuing and Paying Agent shall not be responsible for any misconduct or negligence on the part of any agent,
correspondent, attorney or receiver appointed with due care by it hereunder. The Issuing and Paying Agent shall have no liability whatsoever to any person or entity if any agent fails to pay any
Issuer for any Note in whole or in part. 

        Section 5.2    Indemnification.    The Issuer agrees to indemnify and hold harmless the Issuing and Paying
Agent, its officers, directors, employees, agents and any controlling persons from and against all losses, liabilities, obligations, claims, damages, costs and expenses of any kind or nature
whatsoever (including, without limitation, reasonable legal fees and expenses) relating to or arising out of its performance of the Issuing and Paying Agent's duties under this Agreement, except to
the extent they are caused by the negligence or willful misconduct of the Issuing and Paying Agent. In the event of resignation or removal of the Issuing and Paying Agent, any successor to the
performance of the obligations of the Issuing and Paying Agent as specified in this Agreement shall be entitled to rely upon this indemnity and neither said successor nor the Issuer nor any Holder
shall be entitled to a separate indemnity from the Issuing and Paying Agent. These indemnification obligations shall survive the termination of this Agreement and shall survive the resignation or
removal of the Issuing and Paying Agent. 

 
 

ARTICLE VI
  RESIGNATION OR REMOVAL OF ISSUING AND PAYING AGENT    
  

        Section 6.1    Resignation or Removal.    The Issuing and Paying Agent may at any time resign from its duties
hereunder by giving written notice of resignation to the Issuer specifying the date on which such resignation shall become effective; provided, however,
that such date shall not be less than twenty Market Days after such notice is given to the Issuer. The Issuer may at any time terminate this Agreement by giving written notice of such termination to
the Issuing and Paying Agent specifying the date on which such termination shall be effective; provided, however, that such date shall be not less than
ten Market Days after such notice is given to the Issuing and Paying Agent. Any termination or resignation hereunder shall not affect the Issuing and Paying Agent's right to the payment of fees earned
or charges incurred through the effective date of such termination or resignation, as the case may be. 

        Section 6.2    Successor Issuing and Paying Agent.    Upon the effective date of such resignation or
termination, the Issuing and Paying Agent shall deliver any money then held by it pursuant to Section 3.4(a) to the successor appointed by the Issuer to serve as issuing and paying agent for
the Notes and all liability of the predecessor Issuing and Paying Agent with respect to such money shall thereupon cease. The Issuing and Paying Agent shall also provide such successor with a copy of
its records relating to the Notes as such successor shall reasonably request. However, the Issuing and Paying Agent shall not be required to deliver such materials to any location outside the United
States of America and may retain copies of any records turned over for archival purposes. If such successor has not been appointed by
the effective date of such resignation or termination, the Issuing and Paying Agent shall pay such money and deliver such records to the Issuer with the same effect as though such payment were made
pursuant to Section 3.4(b). The delivery, transfer and assignment of such moneys and records by the Issuing and Paying Agent to its successor or the Issuer, as the case may be, shall be
sufficient, without the requirement of any additional act or the requirement of any indemnity to be given by the Issuing and Paying Agent, to relieve the Issuing and Paying Agent of all further
responsibility for the exercise of the rights or the performance of the obligations vested in the Issuing and Paying Agent pursuant to this Agreement. 

        Section 6.3    Successor by Merger, etc.    Any corporation or association into which the Issuing and Paying
Agent may be converted or merged, or with which it may be consolidated, or to which it may sell or transfer its debt securities administration business as a whole, or any corporation or association 

7

 

resulting from any such conversion, sale, merger, consolidation or transfer to which it is a party, shall be and become successor Issuing and Paying Agent (including performing the duties of
Calculation Agent) hereunder and shall be invested with all of the rights, powers, trusts, duties and obligations of the Issuing and Paying Agent hereunder, without the execution or filing of any
instrument or any further act. The Issuing and Paying Agent shall provide notice to the Issuer of any such conversion, merger, consolidation, sale or transfer as soon as practicable after the Issuing
and Paying Agent obtains knowledge that such event will occur or has occurred. 

 
 

ARTICLE VII
  MISCELLANEOUS    
  

        Section 7.1    Compensation of the Issuing and Paying Agent.    The Issuer agrees to pay the Issuing and Paying
Agent compensation for all services rendered by the Issuing and Paying Agent hereunder to the Issuer in such amounts and payable at such times as the Issuer and the Issuing and Paying Agent may agree
to and to promptly reimburse the Issuing and Paying Agent for all reasonable out-of-pocket expenses (including counsel fees), disbursements and advances incurred or made by the
Issuing and Paying Agent in the performance of its duties hereunder. The obligation of the Issuer pursuant to this Section 7.1 shall survive the termination of this Agreement, including any
termination pursuant to any federal or state bankruptcy law, to the extent enforceable under applicable law. 

        Section 7.2    Reliance on Opinions of Counsel.    The Issuing and Paying Agent shall have no liability to the
Issuer in respect of an action taken or omitted by the Issuing and Paying Agent in good faith in reliance on an opinion of its counsel, including in-house counsel. 

        Section 7.3    Notes Held by Issuing and Paying Agent.    The Issuing and Paying Agent, in its individual or
other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not acting as issuing and paying agent hereunder. 

        Section 7.4    Notices.    Notices and other communications hereunder shall (except to the extent otherwise
expressly provided) be in writing or given via electronic media and shall be addressed as follows, or to such other addresses as the parties hereto shall specify from time to time. 

	If to the Issuer:	 	City National Bank
	 	 	 	 	400 North Roxbury Drive, 5th Floor

Beverly Hills, California 90210

Attention: General Counsel

Telephone: (310) 888-6262

Telecopy: (310) 888-6232
	

with a copy to:	
 	

City National Bank
	 	 	 	 	Finance Division

606 South Olive Street, 6th Floor

Los Angeles, California 90014

Attention: Controller

Telephone: (213) 347-2651

Telecopy: (213) 347-2645
	

If to the Issuing and	
 	

 	
 	

 
	Paying Agent:	 	Continental Stock Transfer & Trust Company
	 	 	 	 	2 Broadway

New York, New York 10004

Attention: Corporate Trust Officer

Telephone: (212) 509-4000 x218

Telecopy: (212) 509-5150

8

 

        All
notices shall be deemed given when received. 

        Section 7.5    Parties.    Except for rights arising under Section 3.4(a), this Agreement is solely for
the benefit of the parties hereto and their successors and assigns and nothing herein, express or implied, shall give to any other person including, without limitation, any beneficial owner of Notes,
any benefits or any legal or equitable right, remedy or claim under this Agreement. 

        Section 7.6    Governing Law.    THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW PRINCIPLES. 

        Section 7.7    Separability.    In case any provision in this Agreement 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 7.8    Effect of Headings.    The table of contents and the article and section headings herein are for
convenience of reference only and shall not affect the construction hereof. 

        Section 7.9    Defined Terms.    Unless otherwise defined herein, capitalized terms used herein shall have the
meanings assigned to them in the applicable Note. 

        Section 7.10    Amendments, Modifications.    No amendment or modification of any provision of this Agreement
or any Additional Agreement shall be effective unless the same shall be in writing and signed by all the parties hereto or thereto as applicable. Any such amendment or modification shall be effective
only in the specific instance and for the purpose for which given. 

        Section 7.11    Laws of Other Jurisdictions.    The Issuing and Paying Agent shall be under no obligation to
keep itself apprised of or comply with any laws other than the laws of the State of New York and of the United States. To the extent that the Issuer requires that the laws of any other jurisdiction be
complied with, the Issuing and Paying Agent shall rely on, and in so relying shall be held harmless by, the Issuer as to the requirements of such laws and shall not be required to make any independent
investigation of such laws or their requirements. 

        Section 7.12    Actions Due on Days other than Market Days.    If any date on which a payment, notice or other
action required by this Agreement or any Additional Agreement falls on other than a Market Day, then that action or payment need not be taken or made on such date, but may be taken or made on the next
succeeding Market Day on which the Issuing and Paying Agent is open for business with the same force and effect as if made on such date. 

        Section 7.13    Agreement to Pay Attorneys' Fees and Other Expenses.    In the event the Issuer shall default
under any of the provisions of this Agreement and/or any Additional Agreement affecting the rights or duties of the Issuing and Paying Agent and the Issuing and Paying Agent shall employ attorneys or
incur other expenses for the enforcement of performance or observance of any such obligation or agreement, the Issuer agrees that it will on demand therefor pay to the Issuing and Paying Agent the
reasonable fees of such attorneys and such other expenses incurred by the Issuing and Paying Agent. 

        Section 7.14    Survival.    The Issuing and Paying Agent's rights to compensation, reimbursement and
indemnification shall survive the termination of this Agreement and any Additional Agreements. 

        Section 7.15    Force Majeure.    The Issuing and Paying Agent shall not be liable for any failure or delays
arising out of conditions beyond its reasonable control including, but not limited to, work stoppages, fires, civil disobedience, riots, rebellions, storms, electrical, mechanical, computer or
communications facilities failures, acts of God and similar occurrences. 

9

 

        Section 7.16    Remedies.    Unless otherwise specified herein, in the event that either party breaches or
violates any of the obligations contained in this Agreement, the other party shall be entitled to exercise any right and seek any remedy available to it either at law or in equity, including without
limitation, damages and injunctive relief; the exercise of any right or the seeking of any remedy shall not preclude the concurrent or subsequent exercise of any other right or the seeking of any
other remedy, and all rights and remedies shall be cumulative. 

        Section 7.17    No Implied Waivers.    The right of any party under any provision of this Agreement shall not
be affected by its prior failure to require the performance by any other party under such provision or any other provision of this Agreement, nor shall the waiver by any party of a breach of any
provision hereof constitute a waiver of any succeeding breach of the same or any other provision or constitute a waiver of the provision itself or any other provision. 

        Section
7.18    Counterparts.    This Agreement may be executed in two or more counterparts, each of which shall
constitute an original but both or all of which, when taken together, shall constitute but one instrument, and shall become effective when copies hereof which, when taken together, bear the signatures
of each of the parties hereto, shall be delivered to each of the parties hereto. 

        Section
7.19    Term.    This Agreement shall remain in full force and effect until the earlier to occur of
(i) the effective date of the resignation or termination of the Issuing and Paying Agent, and (ii) the effective date of the Depositary's resignation if the Issuer appoints no successor
depository. 

        Section 7.20    Times.    All times referred to herein shall be the time in effect in New York, New York. 

[INTENTIONALLY
LEFT BLANK] 

10

 

        IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on their behalf by representatives duly authorized hereunto, all as of the day and year first above
written. 

	 	 	CITY NATIONAL BANK
	
 	
 	

By:	

/s/  RICHARD H. SHEEHAN, JR.      
 Richard H. Sheehan, Jr.
	

 	
 	

Title:	

Senior Vice President, Secretary and General Counsel

	

	
 	

 	

 
	

 	
 	

Continental Stock Transfer & Trust Company, as Issuing and Paying Agent
	

 	
 	

By:	

/s/  HENRY R DREWS      
 HENRY R DREWS
	

 	
 	

Title:	

SENIOR TRUST OFFICER

11

  

 
 

EXHIBIT A-l TO
  ISSUING AND PAYING
  AGENCY AGREEMENT
  (Short-Term Fixed)    
  

	REGISTERED	 	 	 	REGISTERED
	

 	
 	

CITY NATIONAL BANK	
 	

 
	

No. FXRA-            	
 	

BANK NOTES

(Short-Term Fixed Rate)	
 	

CUSIP                         

This
Note is a Global Note within the meaning of the Issuing and Paying Agency Agreement hereinafter referred to and is registered in the name of the Depositary or a nominee thereof. This Note may not
be exchanged in whole or in part for a Note registered, and no transfer of this Note in whole or in part may be registered, in the name of any person other than such Depositary or a nominee thereof,
except in the limited circumstances described in the Issuing and Paying Agency Agreement. 

Unless
this Note is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of transfer, exchange or
payment, and any security issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company and any payment hereon
is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein. 

This
Note must be held in minimum denominations of $250,000 and is not exchangeable for Notes in smaller denominations. 

	PRINCIPAL AMOUNT:	 	ISSUE DATE:
	

MATURITY DATE:	
 	

INTEREST RATE:
	

COMPUTATION PERIOD:	
 	

[ORIGINAL ISSUE DISCOUNT NOTE]

(if applicable)
	

[YIELD TO MATURITY:]

(if Original Issue Discount Note)	
 	

OTHER PROVISIONS:

(Add other provisions, as applicable, including, without limitation, provisions providing for extension, renewal, calculation of interest by reference to an index, amortization, etc.)

        CITY
NATIONAL BANK, a national banking association duly organized and existing under the laws of the United States of America (herein called the "Bank", which term includes any successor
thereof), for value received, hereby promises to pay to CEDE & CO., as nominee for The Depository Trust Company, or registered assigns, the principal amount specified above on the Maturity Date
specified above (the "Maturity Date") and to pay interest thereon (computed, unless a different Computation Period is specified above (a "Computation Period"), on the basis of actual number of days
elapsed divided by 360) from and including the Issue Date specified above (the "Issue Date") to but excluding the Maturity Date, at the rate per annum equal to the interest rate specified above (the
"Interest Rate"), until the principal hereof is paid or duly made available for payment. Such interest shall be payable by the Bank on the Maturity Date. The interest and principal so payable on this
Note 

1

 

shall be paid by the Bank on the Maturity Date to the person in whose name this Note is registered at the opening of business on the Maturity Date. If the Maturity Date of this Note would otherwise
be a day which is not a Market Day (as defined below), the payment of principal and interest may be made on the next succeeding Market Day with the same force and effect as if made on the Maturity
Date, and no interest shall accrue thereon from the Maturity Date to such next succeeding Market Day. 

        No
interest shall accrue on any amount of principal of (premium, if any) or interest on this Note after the due date therefor; provided
that, to the extent permitted by applicable law, interest shall accrue on any amount of principal (premium, if any) or interest not paid or duly provided for on the date due, from and including the
date due to, but excluding, the date paid, at the Interest Rate. 

        Payment
of the principal of and interest on this Note will be made by the Issuing and Paying Agent (as hereinafter defined) in U.S. dollars in immediately available funds to the
Depositary or its nominee if this Note is presented to the Issuing and Paying Agent at its office at 2 Broadway, New York, New York 10004, in time for the Issuing and Paying Agent to make such payment
in such funds in accordance with its normal procedures. 

        Reference
is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as is set forth at
this place. 

        This
Note and the obligations of the Bank evidenced hereby shall be governed by and construed in accordance with the laws of the State of New York and, where applicable, the laws of the
United States of America. 

        Unless
the certificate of authentication hereon has been executed by the Issuing and Paying Agent by manual signature, this Note shall not be entitled to any benefit under the Issuing
and Paying Agency Agreement or be valid or obligatory for any purpose. 

        IN
WITNESS WHEREOF, the Bank has caused this Note to be duly executed and countersigned as of the date set forth herein. 

	Dated:	 	 	 	CITY NATIONAL BANK
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

By	
 	

 
	 	 	 	 	 	 	
 Authorized Signature
	

Attest:	
 	

 	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

CERTIFICATE OF AUTHENTICATION	
 	

 
	

This is one of the Notes referred

to in the within-mentioned Issuing

and Paying Agency Agreement	
 	

 	
 	

 
	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

as Issuing and Paying Agent
	

By	
 	

 	
 	

 	
 	

 
	 	 	
 Authorized Signature	 	 	 	 

2

 
        [Form
of Reverse of Note] 

        This
Note is one of a duly authorized issue of notes of the Bank (the "Notes") issued and to be issued under the Issuing and Paying Agency Agreement, dated as of January 7, 1998
(the "Issuing and Paying Agency Agreement"), between the Bank and Continental Stock Transfer & Trust Company, as Issuing and Paying Agent (herein called the "Issuing and Paying Agent", which
term includes any successor issuing and paying agent under the Issuing and Paying Agency Agreement), to which Issuing and Paying Agency Agreement and all issuing and paying agency agreements
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Bank and the Issuing and Paying Agent and of the
terms upon which the Notes are, and are to be, authenticated and delivered. Except as otherwise may be stated on the face hereof, the Notes are issuable only as registered Global Notes, without
coupons, in denominations of $250,000 and integral multiples of $1,000 in excess thereof. The Notes may be issued from time to time in various principal amounts, may mature at different times, may
bear interest at different rates, may be subject to different redemption provisions, if any, and may otherwise vary. 

        THIS
NOTE IS A DIRECT, UNCONDITIONAL, UNSECURED AND UNSUBORDINATED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION EVIDENCED BY THIS NOTE RANKS PARI PASSU WITH ALL OTHER UNSECURED AND
UNSUBORDINATED OBLIGATIONS OF THE BANK, EXCEPT OBLIGATIONS, INCLUDING DEPOSIT OBLIGATIONS OF THE BANK, THAT ARE REQUIRED BY LAW TO BE SUBJECT TO ANY PRIORITIES OR PREFERENCES. THIS NOTE IS NOT A
SAVINGS ACCOUNT OR A DEPOSIT OF ANY BANK AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. 

        THIS
NOTE IS NOT SUBJECT TO REDEMPTION OR PREPAYMENT PRIOR TO THE MATURITY DATE. 

        If
this Note is designated on the face hereof as an Original Issue Discount Note, then, notwithstanding anything to the contrary contained in this Note, upon the redemption or
acceleration of the Maturity Date of this Note there shall be payable, in lieu of the principal amount due on the Maturity Date hereof, as specified on the face hereof, an amount equal to the
Amortized Face Amount of this Note. The "Amortized Face Amount" shall be the amount equal to (a) the issue price of this Note, plus
(b) that portion of the difference between the issue price and the principal amount of this Note that has been amortized at the Stated Yield (as defined below) of this Note (computed in
accordance with generally accepted United States bond yield computation principles) at the date as of which the Amortized Face Amount is calculated, but in no event shall the Amortized Face Amount
exceed the principal amount of this Note due on the Maturity Date hereof. As used in the previous sentence, the "Stated Yield" means the Yield to Maturity specified on the face hereof (or if not so
specified, the yield to maturity compounded semi-annually and computed in accordance with generally accepted United States bond yield computation principles) for the period from the Issue
Date to the Maturity Date on the basis of the issue price and such principal amount. 

        For
purposes of this Note, an "Event of Default" shall mean any one of the following events: 

	(1)
	default
in the payment of any interest upon this Note when it becomes due and payable, and continuance of such default for a period of 30 days; or

	(2)
	default
in the payment of the principal of (or premium, if any, on) this Note when due; or

	(3)
	default
in the performance of any covenant or agreement of the Bank contained in this Note which continues for 60 days after receipt of written notice given by the Holder of
this Note; or

	(4)
	the
Bank shall consent to the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation, readjustment of debt, 

3

 

marshaling
of assets and liabilities or similar proceedings of or relating to the Bank or of or relating to all or substantially all of its property; or a decree or order of a court or agency or
supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation
readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Bank and such
decree or order shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or the Bank shall file a petition to take advantage of any applicable insolvency or
reorganization statute. 

        If
an Event of Default with respect to this Note shall occur and be continuing, the Holder of this Note may (i) declare the principal of this Note (or, if this Note is an Original
Issue Discount Note, the Amortized Face Amount thereof) due and payable, and/or (ii) institute a judicial proceeding for the enforcement of the terms of this Note, including the collection of
all sums due and unpaid hereunder, prosecute such proceeding to judgment for final decree and enforce the same against the Bank and collect moneys adjudged or decreed to be payable in the manner
provided by law out of the property of the Bank and/or (iii) take such other action at law or in equity as may appear necessary or desirable
to collect and enforce this Note. Any Event of Default with respect to this Note may be waived by the Holder. 

        The
Bank may not consolidate with or merge into any other person or convey, transfer or lease its assets substantially as an entirety to any person, unless (a) the surviving
entity in such consolidation or merger, or the person that acquires by conveyance, transfer or lease the assets of the Bank substantially as an entirety shall be a bank, corporation or partnership
organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia, and shall expressly assume, by a supplement to this Note, the due and
punctual payment of the principal of, premium, if any, and interest on this Note, and the performance or observance of every provision of this Note on the part of the Bank to be performed or observed,
and (b) immediately after giving effect to such transaction, no Event of Default, and no event which, with giving of notice or the lapse of time or both, would become an Event of Default, shall
have occurred and be continuing. 

        All
notices to the Bank under this Note shall be in writing or addressed to the Bank at 400 North Roxbury Drive, 5th Floor, Beverly Hills, California 90210, Attention: General Counsel,
or to such other address as the Bank may notify the Holder. 

        All
terms used in this Note which are defined in the Issuing and Paying Agency Agreement shall have the meanings assigned to them in the Issuing and Paying Agency Agreement. 

4

 

 
 

ABBREVIATIONS    

The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations: 

        TEN
COM—as tenants in common 

        TEN
ENT—as tenants by the entireties 

        JT
TEN—as joint tenants and not as tenants in common 

	 	UNIF GIFT MIN ACT—	 	Custodian	 
	 	 	
 [Custodian]	 	
 [Minor]

	

 	

Under Uniform Gifts to Minors Act (	

 	

)
	 	 	
 [State]	 

Additional
abbreviations may also be used though not in the above list. 

5

 

FOR
VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

(PLEASE INSERT SOCIAL SECURITY IDENTIFYING NUMBER OF ASSIGNEE) 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE) 

the
within Note and all rights thereunder, hereby irrevocably constituting and appointing                          attorney to
transfer said Note on the books of the Bank, with
full power of substitution in the premises. 

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

6

  

 
 

EXHIBIT A-2 TO
  ISSUING AND PAYING
  AGENCY AGREEMENT
  (Medium-Term Floating)    
  

	REGISTERED	 	 	 	REGISTERED
	

 	
 	

CITY NATIONAL BANK	
 	

 
	

No. FXRA-            	
 	

BANKNOTES

(Medium-Term Fixed Rate)	
 	

CUSIP                         

        This
Note is a Global Note within the meaning of the Issuing and Paying Agency Agreement hereinafter referred to and is registered in the name of the Depositary or a nominee thereof.
This Note may not be exchanged in whole or in part for a Note registered, and no transfer of this Note in whole or in part may be registered, in the name of any person other than such Depositary or a
nominee thereof, except in the limited circumstances described in the Issuing and Paying Agency Agreement. 

        Unless
this Note is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and any security issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company
and any payment hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 

        This
Note must be held in minimum denominations of $250,000 and is not exchangeable for Notes in smaller denominations. 

        [Senior Bank Note: THIS NOTE IS A DIRECT UNSECURED AND UNSUBORDINATED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION EVIDENCED
BY THIS NOTE RANKS PARI PASSU WITH ALL OTHER UNSECURED AND UNSUBORDINATED OBLIGATIONS OF THE BANK, EXCEPT OBLIGATIONS THAT ARE BY LAW SUBJECT TO ANY PRIORITIES OR PREFERENCES, INCLUDING DEPOSIT
OBLIGATIONS OF THE BANK.] 

        [Subordinated Bank Note: THE OBLIGATION EVIDENCED BY THIS NOTE IS UNSECURED AND IS SUBORDINATED AND JUNIOR IN RIGHT OF PAYMENT
TO THE BANK'S OBLIGATIONS TO ITS DEPOSITORS AND TO THE BANK'S OTHER OBLIGATIONS TO ITS GENERAL AND SECURED CREDITORS AND IS INELIGIBLE AS COLLATERAL TO SECURE A LOAN FROM THE BANK. THIS IS NOT A
SAVINGS ACCOUNT OR A DEPOSIT OF ANY 

1

 

BANK AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY.] 

	PRINCIPAL AMOUNT:	 	 
	

ISSUE DATE:	
 	

MATURITY DATE:
	

INTEREST RATE:	
 	

COMPUTATION PERIOD:
	

INTEREST PAYMENT DATE(S):	
 	

REGULAR RECORD DATE(S):
	

REDEMPTION DATE(S):	
 	

REDEMPTION PERCENTAGE(S)

(if other than 100% of principal amount):
	

REDEMPTION DATE(S)

(OPTION OF HOLDER):	
 	

REDEMPTION PERCENTAGE(S)

(OPTION OF HOLDER)

(if other than 100% of principal amount):
	

[ORIGINAL ISSUE DISCOUNT

NOTE] (if applicable)	
 	

[YIELD TO MATURITY:]

(if Original Issue Discount Note)
	

OTHER PROVISIONS:

(Add other provisions, as applicable including, without limitation provisions providing for a sinking fund, extension, renewal, calculation of interest by reference to an index, amortization, etc.)	
 	

 

        CITY
NATIONAL BANK, a national banking association duly organized and existing under the laws of the United States of America (herein called the "Bank", which term includes any successor
thereof), for value received, hereby promises to pay to CEDE & CO., as nominee for The Depository Trust Company, or registered assigns, the principal amount specified above on the maturity date
specified above (the "Maturity Date") and to pay interest thereon (computed, unless a different computation period is specified above (a "Computation Period"), on the basis of a 360-day
year of twelve 30-day months) from and including the Issue Date specified above (the "Issue Date") or from and including the most recent Interest Payment Date to which interest on this
Note (or any predecessor Note) has been paid or duly provided for to but excluding the next succeeding Interest Payment Date, on the Interest Payment Date(s) specified above in each year (each an
"Interest Payment Date") and on the Maturity Date, semiannually in arrears at the rate per annum equal to the Interest Rate specified above (the "Interest Rate"), until the principal hereof is paid or
duly made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will be paid to the person in whose name this Note (or one or more
predecessor Notes) is registered at the close of business on the Regular Record Date specified above (the "Regular Record Date") next preceding such Interest Payment Date;  provided, however, that
interest payable on the Maturity Date will be payable to the person to whom principal shall be payable; and  provided, further, that if the Issue Date is after a Regular Record Date and before the next
succeeding Interest Payment Date the first
payment of interest shall be payable on the second Interest Payment Date following the Issue Date to the person in whose name this Note (or one or more predecessor Notes) is registered at the close of
business on the Regular Record Date immediately preceding such Interest Payment Date. 

        If
any Interest Payment Date specified on the face hereof or the Maturity Date would otherwise be a day which is not a Market Day, with respect to this Note, the payment of principal or
interest may be made on the next succeeding Market Day with the same force and effect as if made on the due date 

2

 

therefor, and no interest shall accrue from such Interest Payment Date or Maturity Date, as the case may be, to such next succeeding Market Day. 

        No
interest shall accrue on any amount of principal of (premium, if any) or interest on this Note after the due date therefor; provided  that, to the extent permitted by applicable law, interest shall
accrue on any amount of principal (premium, if any) or interest not paid or duly provided for on the date due,
from and including the date due, to but excluding the date paid, at the Interest Rate. 

        No
interest shall accrue on this Note after the Maturity Date. 

        Payment
of the principal of (and premium, if any) and interest on this Note will be made on each Interest Payment Date by the Issuing and Paying Agent (as defined on the reverse hereof),
in U.S. dollars in immediately available funds to the Depository or its nominee; provided, however, that payment of the principal of (and premium, if
any) and interest on this Note due on the Maturity Date will be made in U.S dollars in immediately available funds at the office of the Issuing and Paying Agent at 2 Broadway, New York, New York
10004, if this Note is presented to the Issuing and Paying Agent in time for the Issuing and Paying Agent to make such payments in such funds in accordance with its normal procedures. 

        Reference
is hereby made to the further provisions of this 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. 

        This
Note and the obligations of the Bank evidenced hereby shall be governed by and construed in accordance with the laws of the State of New York and, where applicable, the laws of the
United States of America. 

        Unless
the certificate of authentication hereon has been executed by the Issuing and Paying Agent referred to on the reverse hereof by manual signature, this Note shall not be entitled
to any benefit under the Issuing and Paying Agency Agreement or be valid or obligatory for any purpose. 

3

 

        IN
WITNESS WHEREOF, the Bank has caused this instrument to be duly executed and countersigned as of the date set forth below. 

	Dated:	 	 	 	CITY NATIONAL BANK
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

By	
 	

 
	 	 	 	 	 	 	
 Authorized Signature
	

Attest:	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

CERTIFICATE OF AUTHENTICATION	
 	

 	
 	

 
	

This is one of the Notes referred to in the within-mentioned Issuing and Paying Agency Agreement	
 	

 	
 	

 
	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

as Issuing and Paying Agent
	

By	
 	

 	
 	

 	
 	

 
	 	 	
 Authorized Signature	 	 	 	 

4

 
[Form
of Reverse of Note] 

        This
Note is one of a duly authorized issue of notes of the Bank (the "Notes") issued and to be issued under the Issuing and Paying Agency Agreement, dated as of January 7, 1998
(the "Issuing and Paying Agency Agreement"), between the Bank and Continental Stock Transfer & Trust Company, as Issuing and Paying Agent (herein called the "Issuing and Paying Agent", which
term includes any successor
issuing and paying agent under the Issuing and Paying Agency Agreement) and reference is hereby made to the Issuing and Paying Agency Agreement for a statement of the respective rights, limitations of
rights, duties and immunities thereunder of the Bank and the Issuing and Paying Agent and of the terms upon which the Notes are, and are to be, authenticated and delivered. Except as otherwise
provided in the Issuing and Paying Agency Agreement, the Notes will be issued only as fully-registered Global Notes, without coupons, in denominations of $250,000 and integral multiples of $1,000 in
excess thereof. The Notes may be issued from time to time in various principal amounts, may mature at different times, may bear interest at different rates, may be subject to different redemption
provisions, if any, and may otherwise vary. 

        [SENIOR
BANK NOTES: THIS NOTE IS A DIRECT, UNCONDITIONAL, UNSECURED AND UNSUBORDINATED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION EVIDENCED BY THIS NOTE RANKS PARI PASSU
WITH ALL OTHER UNSECURED AND UNSUBORDINATED OBLIGATIONS OF THE BANK, EXCEPT OBLIGATIONS, INCLUDING DEPOSIT OBLIGATIONS OF THE BANK, THAT ARE REQUIRED BY LAW TO BE SUBJECT TO ANY PRIORITIES OR
PREFERENCES. THIS NOTE DOES NOT EVIDENCE A DEPOSIT AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY.] 

        [SUBORDINATED
BANK NOTES: THIS NOTE IS A DIRECT, UNSECURED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION EVIDENCED BY THIS NOTE IS SUBORDINATED AND JUNIOR IN RIGHT OF
PAYMENT TO THE BANK'S OBLIGATION TO ITS DEPOSITORS AND TO THE BANK'S OTHER OBLIGATIONS TO ITS GENERAL AND SECURED CREDITORS AND IS INELIGIBLE AS COLLATERAL TO SECURE A LOAN FROM THE BANK. THIS NOTE IS
NOT A SAVINGS ACCOUNT OR A DEPOSIT OF ANY BANK AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY.] 

        If
this Note is designated on the face hereof as an "Original Issue Discount Note," then, notwithstanding anything to the contrary contained in this Note, upon the redemption or
acceleration of the Maturity Date of this Note there shall be payable, in lieu of the principal amount due on the Maturity Date, as specified on the face hereof, an amount equal to the Amortized Face
Amount of this Note. The "Amortized Face Amount" shall be the amount equal to (a) the issue price of this Note, plus (b) that portion of the difference between the issue price and the
principal amount of this Note that has been amortized at the Stated Yield (as defined below) of this Note (computed in accordance with generally accepted United States bond yield computation
principles) at the date as of which the Amortized Face Amount is calculated, but in no event shall the Amortized Face Amount exceed the principal amount of this Note due on the Maturity Date. As used
in the previous sentence, the "Stated Yield" means the Yield to Maturity specified on the face hereof (or if not so specified, the yield to maturity compounded semiannually and computed in accordance
with generally accepted United States bond yield computation principles) for the period from the Issue Date to the Maturity Date on the basis of the issue price and such principal amount. 

        If
one or more Redemption Dates (or ranges of Redemption Dates) is specified on the face hereof, this Note is subject to redemption upon not less than 30 nor more than 60 days'
notice by mail, on any
such date (or during any such range), as a whole, or from time to time in part, at the election of the Bank, at a Redemption Price determined as provided in the next succeeding sentence, together 

5

 

with accrued interest to the Redemption Date, but interest installments whose Maturity Date is on or prior to the Redemption Date will be payable to the Holder hereof (or one or more predecessor
Notes) of record at the close of business on the relevant Regular Record Dates referred to on the face hereof. If applicable, the "Redemption Price" for any such redemption shall be the amount
determined by multiplying the Redemption Percentage specified on the face hereof with respect to the relevant Redemption Date (or range of such dates), by the portion of the principal amount hereof
(or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed; provided, however, that in no
event shall the Redemption Price be less than 100% of the portion of the principal amount hereof (or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof)
to be redeemed. 

        Notice
of redemption having been given as aforesaid, this Note (or the portion of the principal amount hereof so to be redeemed) shall, on the Redemption Date, become due and payable at
the Redemption Price herein specified, and from and after such date (unless the Bank shall default in the payment of the Redemption Price and accrued interest) shall cease to bear interest. 

        In
the event of any redemption of this Note in part only, a new Note or Notes of this series of like tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof, provided that such unredeemed portion shall be an authorized denomination for Notes of this series. 

        If
one or more Redemption Dates (Option of Holder) (or ranges of such dates) is specified on the face hereof, this Note is subject to redemption on any such date (or during any such
range) or, if such date is not a Market Day, on the first Market Day following such date, as a whole or from time to time in part, at the election of the Holder hereof, at a Redemption Price
determined as provided in the fourth succeeding sentence together with accrued interest to the Redemption Date, but interest installments due on or prior to the Redemption Date will be payable to the
Holder hereof of record at the close of business on the Regular Record Date referred to on the face hereof. "Market Day' means, with respect to this Note, any day that is not a Saturday or Sunday and
that, in the City of New York, New York, or the City of Los Angeles, California, is not a day on which banking institutions generally are authorized or obligated by law or executive order to close.
Such election shall be effected by the Holder hereof delivering to the Bank at the office of the Issuing and Paying Agent at 2 Broadway, New York, New York 10004, not less than 30 nor more than
60 days prior to the date on which this Note is to be redeemed, or during such other Notice Period specified on the face hereof, a notice requesting such redemption as prescribed below and
specifying the date upon which this Note is to be redeemed. Any notice given by a Holder pursuant to this paragraph shall consist of either (i) this Note with the form entitled "Option to Elect
Redemption" set forth at the end of this Note duly completed or (ii) a telegram, facsimile transmission or a letter from a member of a national notes exchange or of the National Association of
Securities Dealers, Inc. or a commercial bank or trust company in the United States setting forth the name of the Holder hereof, the principal amount of this Note, the principal amount of this
Note to be redeemed, the certificate number or a description of the terms of this Note, a statement that the option to elect redemption is being exercised thereby and a guarantee that this Note,
together with the duly completed form entitled "Option to Elect Redemption" set forth at the
end of this Note, will be received by the Issuing and Paying Agent not later than the fifth Market Day after the date of such telegram, facsimile transmission or letter;  provided, however, that such
telegram, facsimile transmission or letter shall only be effective if this Note and such form duly completed are received
by the Issuing and Paying Agent by such fifth Market Day. Exercise of the redemption option by the Holder hereof will be irrevocable. Such option may be exercised with respect to less than the entire
principal amount of this Note, provided that the portion outstanding after such redemption shall be an authorized denomination for Notes. If applicable, the "Redemption Price" for any such redemption
shall be determined by multiplying the Redemption Percentage (Option of Holder) specified on the face hereof with respect to the relevant Redemption Date (Option of Holder) (or 

6

 

range of such dates) by the portion of the principal amount hereof (or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed, together with
interest accrued thereon to the Redemption Date; provided, however, that in no event shall the Redemption Price be less than 100% of the portion of the
principal amount hereof (or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed. 

        [Subordinated Bank Notes: Notwithstanding the foregoing, this Note may not be redeemed without the prior written consent of
the Office of the Comptroller of the Currency of the United States (the "OCC") unless the Bank shall remain an "eligible bank", as defined in 12 C.F.R. § 5.3(g) (or any successor
regulation thereto), after payment of the Notes pursuant to such redemption.] 

        If
so indicated on the face hereof, and in accordance with the terms specified thereon, this Note will be subject to redemption through operation of a sinking fund. 

        [Senior Bank Notes: For purposes of this Note, an "Event of Default" shall mean any one of the following events: 

	(1)
	default
in the payment of any interest upon this Note when it becomes due and payable, and continuance of such default for a period of 30 days; or

	(2)
	default
in the payment of the principal of (or premium, if any, on) this Note when due; or

	(3)
	default
in the performance of any covenant or agreement of the Bank contained in this Note which continues for 60 days after receipt of written notice given by the Holder of
this Note; or

	(4)
	the
Bank shall consent to the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation, readjustment of debt,
marshaling of assets and liabilities or similar proceedings of or relating to the Bank or of or relating to all or substantially
all of its property; or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator, trustee or other
similar official in any insolvency, receivership, liquidation readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its
affairs, shall have been entered against the Bank and such decree or order shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or the Bank shall file a
petition to take advantage of any applicable insolvency or reorganization statute.] 

        [Subordinated Bank Notes: The Holder of this Note, by its acceptance hereof, agrees that the indebtedness of the Bank
evidenced by this Note, including the principal, premium, if any, and interest hereon, is unsecured and subordinate and junior in right of payment to the Bank's obligations to its depositors, its
obligations under banker's acceptances and letters of credit, and its obligations to its other creditors (including any obligations to any Federal Reserve Bank and the Federal Deposit Insurance
Corporation), whether outstanding at the time this Note is issued or thereafter incurred (except any obligations which by their express terms rank on a parity with or junior to this Note). In the
event of any insolvency proceedings, receivership, conservatorship, reorganization, readjustment of debt, marshalling of assets and liabilities or similar proceedings or any liquidation or winding up
of or relating to the Bank, whether voluntary or involuntary, all such obligations (except obligations which rank on a parity with or junior to this Note) shall be entitled to be paid in full before
any payment shall be made on account of the principal of or interest on this Note. In the event of any such proceeding, after payment in full of all sums owing with respect to such prior obligations,
the Holder of this Note, together with the holders of any obligations of the Bank ranking on a parity with this Note, shall be entitled to be paid pro rata from the remaining assets of the Bank the
unpaid principal of, and the unpaid premium, if any and interest on, this Note or such other obligations before any payment or other distribution, whether in cash, property, or otherwise, shall be
made on account of any capital stock or any obligations of the Bank ranking junior to this Note. 

7

 

        This
Note contains no limitation on the amount of senior debt, deposits or other obligations that rank senior to this Note that may be hereafter incurred or assumed by the Bank. 

        For
purposes of this Note, an "Event of Default" shall occur if the Bank shall consent to the appointment of a conservator, receiver, liquidator, trustee or other similar official in any
insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Bank or of or relating to all or substantially all of its property; or a decree or
order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency,
readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Bank and such
decree or order shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or the Bank shall file a petition to take advantage of any applicable insolvency or
reorganization statute.] 

        If
an Event of Default with respect to this Note shall occur and be continuing, the Holder of this Note may (i) declare the principal of this Note (or, if this Note is an Original
Issue Discount Note, the Amortized Face Amount thereof) due and payable, and/or (ii) institute a judicial proceeding for the enforcement of the terms of this Note, including the collection of
all sums due and unpaid hereunder, prosecute such proceeding to judgment for final decree and enforce the same against the Bank and collect moneys adjudged or decreed to be payable in the manner
provided by law out of the property of the Bank and/or (iii) take such other action at law or in equity as may appear necessary or desirable to collect and enforce this Note. Any Event of
Default with respect to this Note may be waived by the Holder. The Bank agrees that it will promptly give notice in writing of the occurrence of any Event of Default to the Issuing and Paying Agent.
[Subordinated Bank Notes: Notwithstanding the foregoing, this Note may not be paid by the Bank pursuant to any declaration referred to in
clause (i) of the first sentence of this paragraph without the prior approval of the Office of the Comptroller of the Currency (the "OCC") unless the Bank shall remain an "eligible bank", as
defined in 12 C.F.R. § 5.3(g) (or any successor regulation thereto), after such payment. If such approval of the OCC shall be required upon the occurrence of any such Event of Default, the
Bank will make application therefor to the OCC promptly after receiving notice of any such declaration from the holder hereof.] 

        The
Bank may not consolidate with or merge into any other person or convey, transfer or lease its properties and assets substantially as an entirety to any person, unless (a) the
surviving entity in such consolidation or merger, or the person that acquires by conveyance, transfer or lease the properties and assets of the Bank substantially as an entirety shall be a bank,
corporation or partnership organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia, and shall expressly assume, by a supplement to
this Note, the due and punctual payment of the principal of, premium, if any, and interest on this Note, and the performance or observance of every provision of this Note on the part of the Bank to be
performed or observed, and (b) immediately after giving effect to such transaction, no Event of Default, and no event which, with giving of notice or the lapse of time or both, would become an
Event of Default, shall have occurred and be continuing. 

        All
notices to the Bank under this Note shall be in writing or addressed to the Bank at 400 North Roxbury Drive, 5th Floor, Beverly Hills, California 90210, Attention: General Counsel,
or to such other address as the Bank may notify the Holder. 

        All
terms used in this Note which are defined in the Issuing and Paying Agency Agreement shall have the meanings assigned to them in the Issuing and Paying Agency Agreement. 

8

 

        The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or
regulations: 

        TEN
COM—as tenants in common 

        TEN
ENT—as tenants by the entireties 

        JT
TEN—as joint tenants with right of survivorship and not as tenants in common 

	 	UNIF GIFT MIN ACT—	 	Custodian	 
	 	 	
 [Custodian]	 	
 [Minor]

	

 	

Under Uniform Gifts to Minors Act (	

 	

)
	 	 	
 [State]	 

Additional
abbreviations may also be used though not in the above list. 

9

 

        FOR
VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

	

	(PLEASE INSERT SOCIAL SECURITY IDENTIFYING NUMBER OF ASSIGNEE)
	

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)
	

	

	

the within Note and all rights thereunder, hereby irrevocably constituting and appointing

                        attorney to transfer said Note on the books of the Bank, with full power of substitution in the
premises.
	

Dated:	
 	

 	
 	

Signature:	
 	

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

10

 
OPTION
TO ELECT REDEMPTION 

        The
undersigned hereby irrevocably requests and instructs CITY NATIONAL BANK to redeem the within Note (or portion thereof specified below) pursuant to its terms at the Redemption Price,
to the undersigned at 

	

	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF THE UNDERSIGNED)
	

	

	

	
        If less than the entire principal amount of the within Note is to be redeemed, specify the portion thereof which the Holder elects to have
redeemed:
	                                        
        , and specify the denomination or denominations (which shall not be less than the minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being
redeemed (in the absence of any such specifications, one such Note will be issued for the portion not being redeemed):
	

	

Dated:	
 	

 	
 	

Signature:	
 	

 
	 	 	
	 	 	 	
 NOTICE: The signature to this Option to Elect Redemption must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement.

11

  

 
 

EXHIBIT B-l TO
  ISSUING AND PAYING
  AGENCY AGREEMENT
  (Short-Term Floating)    
  

	REGISTERED	 	 	 	REGISTERED
	 	 	CITY NATIONAL BANK	 	 
	

No. FLRA-                  	
 	

BANK NOTE	
 	

CUSIP                         
	 	 	(Short-Term Floating)	 	 

        This
Note is a Global Note within the meaning of the Issuing and Paying Agency Agreement hereinafter referred to and is registered in the name of the Depositary or a nominee thereof.
This Note may not be exchanged in whole or in part for a Note registered, and no transfer of this Note in whole or in part may be registered in the name of any Person other than such Depositary or a
nominee thereof except in the limited circumstances described in the Issuing and Paying Agency Agreement. 

        Unless
this Certificate is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company
and any payment hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede &
Co., has an interest herein. 

        This
Note must be held in minimum denominations of $250,000 and is not exchangeable for Notes in smaller denominations. 

	PRINCIPAL AMOUNT:	 	 
	

ISSUE DATE:	
 	

MATURITY DATE:
	

INTEREST RATE BASIS:	
 	

COMPUTATION PERIOD:
	

INDEX MATURITY:	
 	

SPREAD (PLUS OR MINUS):
	

INITIAL INTEREST RATE:	
 	

SPREAD MULTIPLIER:
	

MAXIMUM INTEREST RATE:	
 	

MINIMUM INTEREST RATE:
	

INTEREST RESET PERIOD:
 (daily, monthly, quarterly or semi-annually)	
 	

INTEREST RESET MONTH(S):
	

INTEREST RESET DATE(S):	
 	

INTEREST DETERMINATION DATE(S)
	

CALCULATION DATE:	
 	

CALCULATION AGENT:
	

INTEREST PAYMENT PERIOD(S):	
 	

INTEREST PAYMENT DATE(S):
	

REGULAR RECORD DATE(S):	
 	

INTEREST PAYMENT MONTH(S):
	

[ORIGINAL ISSUE DISCOUNT NOTE]
 (if applicable)	
 	

[YIELD TO MATURITY:]
 (if Original Issue Discount Note)
	

OTHER PROVISIONS:
 (Add other provisions, as applicable, including, without limitation, provisions providing for a sinking fund, extension, renewal, calculation of interest by reference to an index, amortization,
etc.)	
 	

 

1

 

        CITY
NATIONAL BANK, a national banking association duly organized and existing under the laws of the United States of America (herein called the "Bank", which term includes any successor
thereof), for value received, hereby promises to pay to CEDE & Co., as nominee for The Depository Trust Company, or registered assigns, the principal amount specified above on the Maturity Date
specified above (the "Maturity Date") and to pay interest thereon, from and including the Issue Date specified above (the "Issue Date") or from and including the most recent Interest Payment Date to
which interest on this Note (or any predecessor Note) has been paid or duly provided for to, but excluding, the Interest Payment Date (as hereinafter defined), at a rate per annum equal to the Initial
Interest Rate specified above (the "Initial Interest Rate") until the first Interest Reset Date (as defined on the reverse hereof) following the Issue Date and thereafter at a rate determined in
accordance with the provisions on the reverse hereof under the heading "Determination of Commercial Paper Rate," "Determination of Prime Rate," "Determination of CD Rate," "Determination of Federal
Funds Rate," "Determination of LIBOR," "Determination of Treasury Rate," "Determination of J.J. Kenny Rate," "Determination of 11th District Cost of Funds Rate" or "Determination of CMT Rate,"
depending upon whether the Interest Rate Basis specified above is the Commercial Paper Rate, Prime Rate, CD Rate, Federal Funds Rate, LIBOR, Treasury Rate, J.J. Kenny Rate, 11th District Cost of Funds
Rate or CMT Rate, until the principal hereof is paid or duly made available for payment; the Bank will make all such payments in respect of this Note in U.S. dollars in amounts determined as set forth
on the reverse hereof. Unless otherwise specified above under "Interest Payment Period," such interest shall be payable by the Bank monthly, quarterly, semi-annually or annually as
specified above under "Interest Payment Period" and, unless otherwise specified above under "Interest Payment Date(s)," such interest shall be payable by the Bank on the third Wednesday of the month
or months specified above under "Interest Payment Month(s)" in each year (each date so specified above or, if none is so specified, determined as herein provided, an "Interest Payment Date") and on
the Maturity Date. The interest so payable, and punctually paid or duly provided for, on any such Interest Payment Date will be paid to the Person in whose name this Note (or one or more predecessor
Notes) is registered at the close of business on the fifteenth day (whether or not a Market Day) next preceding such Interest Payment Date, unless a different Regular Record Date is specified above
(the "Regular Record Date"); provided, however, that interest payable on the Maturity Date will be payable to the Person to whom principal shall be
payable; and provided, further that if the Issue Date is after a Regular Record Date and before the next succeeding Interest Payment Date the first
payment of interest shall be payable on the second Interest Payment Date following the Issue Date to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of
business on the Regular Record Date immediately preceding such Interest Payment Date. 

        As
provided in this Note, if any Interest Payment Date shown on the face hereof would otherwise be a day that is not a Market Day (as defined in the reverse hereof) such Interest Payment
Date shall be postponed to the next day that is a Market Day, except that if the rate of interest on this Note shall be determined in accordance with the provisions of the heading "Determination of
LIBOR," and such Market Day is in the next succeeding calendar month, such Interest Payment Date shall be the immediately preceding Market Day. If the Maturity Date of this Note would otherwise be a
day that is not a Market Day, the payment of principal (and premium, if any) and interest may be made on the next succeeding Market Day with the same force and effect as if made on the due date
therefor, and no interest on such payment will accrue from the Maturity Date to such next succeeding Market Day. 

        No
interest shall accrue on any amount of principal of (premium, if any) or interest on this Note after the due date therefor; provided  that, to the extent permitted by applicable law, interest shall
accrue on any amount of principal (premium, if any) or interest not paid or duly provided for on the date due,
from and including the date due to, but excluding, the date paid, at the interest rate then in effect (or, in the case of any such amount due on the Maturity Date, at the interest rate in effect
immediately prior to the Maturity Date). 

2

 

        Payment
of the principal of (and premium, if any) and interest on this Note will be made on each Interest Payment Date by the Issuing and Paying Agent, in immediately available funds to
the Depositary or its nominee as Holder of this Note; provided, however, that payment of the principal of (and premium, if any) and interest on this
Note due on the Maturity Date will be made in immediately available funds at the office of the Issuing and Paying Agent at 2 Broadway, New York, New York 10004, if this Note is presented to the
Issuing and Paying Agent in time for the Issuing and Paying Agent to make such payments in such funds in accordance with its normal procedures. 

        Reference
is hereby made to the further provisions of this 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. 

        This
Note and the obligations of the Bank evidenced hereby shall be governed by and construed in accordance with the laws of the State of New York and, where applicable, the laws of the
United States of America. 

        Unless
the certificate of authentication hereon has been executed by the Issuing and Paying Agent referred to on the reverse hereof by manual signature, this Note shall not be entitled
to any benefit under the Issuing and Paying Agency Agreement or be valid or obligatory for any purpose. 

        IN
WITNESS WHEREOF, the Bank has caused this instrument to be duly executed and countersigned as of the date set forth below. 

	Dated:	 	 	 	CITY NATIONAL BANK
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

By	
 	

 
	 	 	 	 	 	 	
 Authorized Signature
	

Attest:	
 	

 	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

CERTIFICATE OF AUTHENTICATION	
 	

 
	

This is one of the Notes referred

to in the within-mentioned Issuing

and Paying Agency Agreement	
 	

 	
 	

 
	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

as Issuing and Paying Agent
	

By	
 	

 	
 	

 	
 	

 
	 	 	
 Authorized Signature	 	 	 	 

3

 
        [Form
of Reverse of Note] 

        This
Note is one of a duly authorized issue of notes of the Bank (the "Notes") issued and to be issued under the Issuing and Paying Agency Agreement, dated as of January 7, 1998
(the "Issuing and Paying Agency Agreement"), between the Bank and Continental Stock Transfer & Trust Company, as Issuing and Paying Agent (herein called the "Issuing and Paying Agent," which
term includes any successor issuing and paying agent under the Issuing and Paying Agency Agreement), to which Issuing and Paying Agency Agreement and all issuing and paying agency agreements
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Bank and the Issuing and Paying Agent and of the
terms upon which the Notes are, and are to be, authenticated and delivered. Except as otherwise may be stated on the face hereof, the Notes are issuable only as registered Global Notes, without
coupons, in denominations of $250,000 and integral multiples of $1,000 in excess thereof. The Notes may be issued from time to time in various principal amounts, may mature at different times, may
bear interest at different rates, may be subject to different redemption provisions, if any, and may otherwise vary. 

        THIS
NOTE IS A DIRECT, UNCONDITIONAL, UNSECURED AND UNSUBORDINATED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION EVIDENCED BY THIS NOTE
RANKS PARI PASSU WITH ALL OTHER UNSECURED AND UNSUBORDINATED OBLIGATIONS OF THE BANK, EXCEPT OBLIGATIONS, INCLUDING DEPOSIT OBLIGATIONS OF THE BANK, THAT ARE REQUIRED BY LAW TO BE SUBJECT TO ANY
PRIORITIES OR PREFERENCES. THIS NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT OF ANY BANK AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. 

        Accrued
interest hereon shall be calculated by multiplying the principal amount specified on the face hereof by an accrued interest factor. Such accrued interest factor shall be computed
by adding the interest factor calculated for each day in the period for which accrued interest is being calculated. The interest factor (expressed as a decimal rounded, if necessary, as described
below) for each such day shall be computed by dividing the interest rate (expressed as a decimal rounded, if necessary, as described below) applicable to such day by 360, if the Interest Rate Basis
specified on the face hereof is the Commercial Paper Rate, Prime Rate, CD Rate, Federal Funds Rate, LIBOR, J.J. Kenny Rate or 11th District Cost of Funds Rate, by the actual number of days in the year
(365 or 366, as the case may be) if the Interest Rate Basis specified on the face hereof is the Treasury Rate or the CMT Rate, or by the number of days in the Computation Period specified on the face
hereof, if any. Except as otherwise provided herein, all percentages resulting from any calculation with respect to this Note will be rounded, if necessary, to the nearest one-hundred
thousandth of a percentage point, with five one-millionths of a percentage point rounded upwards (e.g., 9.876545% (or .09876545) being rounded to 9.87655% (or .0987655) and 9.876544% (or
..09876544) being rounded to 9.87654% (or .0987654)), and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being
rounded upwards). 

        The
rate of interest on this Note will be reset daily, weekly, monthly, quarterly or semi-annually, as specified on the face hereof under "Interest Reset Period" (each date
upon which interest is so reset as provided below being hereinafter referred to as an "Interest Reset Date"), and the interest rate in effect on any day shall be (a) if such day is an Interest
Reset Date, the interest rate for such Interest Reset Date or (b) if such day is not an Interest Reset Date the interest rate for the immediately preceding Interest Reset Date;  provided,
however, that the interest rate in effect from the Issue Date of this Note (or one or more
predecessor Notes) to but excluding the first Interest Reset Date will be the Initial Interest Rate. Notwithstanding the foregoing, the interest rate hereon shall not be greater than the Maximum
Interest Rate, if any, specified on the face hereof (the "Maximum Interest Rate") or less than the Minimum Interest Rate, if any, specified on the face hereof (the "Minimum Interest Rate") and in no
event shall be higher than the maximum rate permitted by California law, as the same may 

4

 

be modified by United States law of general application. Unless otherwise specified on the face hereof and except as provided in the next succeeding sentence, the Interest Reset Date with respect to
this Note will be, if the Interest Reset Period specified on the face hereof is daily, each Market Day (as defined below); if the Interest Reset Period specified on the face hereof is weekly (unless
the Interest Rate Basis specified on the face hereof is the Treasury Rate), the Wednesday of each week; if the Interest Reset Period specified on the face hereof is weekly and the Interest Rate Basis
specified on the face hereof is the Treasury Rate, except as otherwise provided below, the Tuesday of each week; if the Interest Reset Period specified on the face hereof is monthly, the third
Wednesday of each month; if the Interest Reset Period specified on the face hereof is quarterly, the third Wednesday of each March, June, September and December; and if the Interest Reset Period
specified on the face hereof is semi-annually, the third Wednesday of two months in each year specified under "Interest Reset Month(s)" on the face hereof. If, pursuant to the preceding
sentence, any Interest Reset Date would
otherwise be a day that is not a Market Day with respect to this Note, the Interest Reset Date shall be the next succeeding day that is a Market Day with respect to this Note, except that if the
Interest Rate Basis specified on the face hereof is LIBOR and the next succeeding Market Day falls in the next succeeding calendar month, such Interest Reset Date shall be the immediately preceding
Market Day. Subject to applicable provisions of law and except as specified herein, on each Interest Reset Date the rate of interest on this Note shall be the rate determined in accordance with the
provisions of the applicable heading below. 

        "Market
Day" means (i) with respect to any Note the rate of interest of which is determined other than in accordance with the provisions of the heading "Determination of LIBOR"
below, any day that is not a Saturday or Sunday and that, in the City of New York, New York or the City of Los Angeles, California, is not a day on which banking institutions generally are authorized
or obligated by law or executive order to close (any such day, a "Business Day") and (ii) with respect to any Note the rate of interest on which is determined in accordance with the provisions
of the heading "Determination of LIBOR" below, any Business Day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

        Determination of Commercial Paper Rate.    If the Interest Rate Basis specified on the face hereof is the Commercial Paper Rate,
the interest rate with respect to this Note for any Interest Reset Date shall equal (a) the Money Market Yield (calculated as described below) of the rate on the second Market Day with respect
to this Note immediately preceding such Interest Reset Date (the "Commercial Paper Interest Determination Date") for commercial paper having the Index Maturity specified on the face hereof, as
published in "Statistical Release H.15(519), Selected Interest Rates," or any successor publication published by the Board of Governors of the Federal Reserve System ("H.15(519)"), under the heading
"Commercial Paper," or (b) if such rate is not published in H.15(519) by 3:00 P.M., New York City time, on such Calculation Date, the Money Market Yield of the arithmetic mean, as
calculated by the Calculation Agent on such Calculation Date, of the offered rates, as of 11:00 A.M., New York City time, on such Commercial Paper Interest Determination Date, of three leading
dealers of commercial paper in the City of New York selected by the Calculation Agent for commercial paper having the Index Maturity specified on the face hereof placed for an industrial issuer whose
senior unsecured bond rating is "AA," or the equivalent, from a nationally recognized statistical rating agency, in each of the above cases adjusted by the addition or subtraction of the Spread, if
any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof; provided,  however, that if fewer
than three such dealers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the Commercial
Paper Rate shall be the Commercial Paper Rate in effect on such Commercial Paper Interest Determination Date. 

5

 

        "Money
Market Yield" shall be a yield (expressed as a percentage), calculated in accordance with the following formula: 

	Money Market Yield =	 	D × 360
 360 - (D × M)	 	×  100.	 

where
"D" refers to the per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal; and "M" refers to the actual number of days in the interest period for which
interest is being calculated. 

        Determination of Prime Rate.    If the Interest Rate Basis specified on the face hereof is the Prime Rate, the Interest Rate
with respect to this Note for any Interest Reset Date shall equal (a) the rate set forth on the second Market Day preceding such Interest Reset Date (the "Prime Rate Interest Determination
Date") in H.15(519) under the heading "Bank Prime Loan" or (b) in the event that such rate is not published prior to 3:00 P.M. New York City time, on the Prime Rate Interest
Determination Date, the arithmetic mean as calculated by the Calculation Agent of (1) the rates of interest publicly announced by each bank that appears on the Reuters Screen USPRIME1 Page (as
hereinafter defined) as such bank's prime rate or base lending rate as in effect for that Prime Rate Interest Determination Date or (2) if fewer than four such rates appear on the Reuters
Screen USPRIME1 Page for the Prime Rate Interest Determination Date, the announced prime rates quoted on the basis of the actual number of days in the year divided by 360 as of the close of business
in the City of New York on the Interest Determination Date by at least two of three major money center banks in the City of New York selected by the Calculation Agent or (3) if fewer than two
such banks quote such a rate, the rates furnished in the City of New York on such Prime Rate Interest Determination Date by the appropriate number of substitute banks or trust companies selected by
the Calculation Agent that are organized and doing business under the laws of the United States or any state thereof, have total equity capital of at least $500 million, and are subject to
supervision or examination by Federal or state authority, in any such case, adjusted by addition or subtraction of the Spread, if any, specified on the face hereof; or by multiplication by the Spread
Multiplier, if any, specified on the face hereof; provided, however, that if fewer than three such substitute banks or trust companies are so quoting
such rates, the interest rate in effect hereon shall be the rate in effect hereon on such Interest Determination Date. For purposes hereof, "Reuters Screen USPRIME1 Page" means the display designated
as page "USPRIME1" on the Reuters Monitor Money Rates Service (or such other page as may replace the USPRIME1 page on that service for the purpose of displaying the prime rate or base lending rate of
major United States banks). 

        Determination of CD Rate.    If the Interest Rate Basis specified on the face hereof is the CD Rate, the Interest Rate with
respect to any Interest Reset Date shall equal (a) the rate on the second Market Day with respect to this Note immediately preceding such Interest Reset Date (the "CD Rate Interest
Determination Date") for negotiable certificates of deposit having the Index Maturity specified on the face hereof, as published in H.15(519) under the heading "CDs (Secondary Market)," or
(b) if such rate is not yet published in H.15(519) by 3:00 P.M., New York City time, on such Calculation Date the arithmetic mean, as calculated by the Calculation Agent, of the
secondary market offered rates, as of 10:00 A.M., New York City time, on such CD Rate Interest Determination Date, of three Leading
nonbank dealers of negotiable U.S. dollar certificates of deposit in the City of New York selected by the Calculation Agent for negotiable certificates of deposit of major United States money market
banks with a remaining maturity closest to the Index Maturity specified on the face hereof in a denomination of $5,000,000 in each of the above cases adjusted by the addition or subtraction of the
Spread, if any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof; provided, however,
that if fewer than three dealers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the CD Rate will be the CD Rate in effect on such CD Rate Interest
Determination Date. 

6

 

        Determination of Federal Funds Rate.    If the Interest Rate Basis specified on the face hereof is the Federal Funds Rate, the
interest rate with respect to this Note for any Interest Reset Date shall equal (a) the rate on the second Market Day with respect to this Note immediately preceding such Interest Reset Date
(the "Federal Funds Interest Determination Date") for Federal Funds having the Index Maturity specified on the face hereof as published in H.15(519) under the heading "Federal Funds
(Effective)" or (b) if by 3:00 P.M., New York City time, on such Calculation Date such rate is not yet published in H.15(519), the arithmetic mean, as calculated by the Calculation Agent
on such Calculation Date, of the rates, prior to 9:00 A.M., New York City time, on such Federal Funds Interest Determination Date, for the last transaction in overnight Federal Funds arranged
by three leading brokers of Federal Funds transactions in the City of New York selected by the Calculation Agent, in each of the above cases adjusted by the addition or subtraction of the Spread, if
any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof; provided, however, that if fewer
than three brokers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the Federal Funds Rate will be the Federal Funds Rate in effect on such Federal Funds
Interest Determination Date. 

        Determination of LIBOR.    If the Interest Rate Basis specified on the face hereof is LIBOR, the interest rate with respect to
this Note for any Interest Reset Date shall be determined by the Calculation Agent and shall equal to the greater of either (i) the offered rate for deposits in U.S. dollars having the Index
Maturity specified on the face hereof commencing on the second London Market Day immediately following the Interest Determination Date which appears on the Telerate Page 3750 (as defined herein) as of
11:00 A.M., London time, on such Interest Determination Date, adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof or by multiplication by the Spread
Multiplier, if any, specified on the face hereof ("LIBOR Telerate") or (ii) the arithmetic mean of the offered rates for deposits in U.S. dollars having the Index Maturity designated on the
face hereof, commencing on the second London Market Day immediately following that LIBOR Interest Determination Date, that appear on the Reuters Screen LIBO Page as of 11:00 A.M., London time,
on that LIBOR Interest Determination Date, if at least two such offered rates appear on the Reuters Screen LIBO Page, adjusted by the addition or subtraction of the Spread, if any, specified on the
face hereof or by multiplication by the Spread Multiplier, if any, specified on the face hereof ("LIBOR Reuters"). If neither LIBOR Telerate nor LIBOR Reuters is specified on the face hereof, LIBOR
will be determined as if LIBOR Telerate had been specified; provided, however, if such rate does not so appear on the Telerate Page 3750 or if fewer
than two offered rates appear on the Reuters Screen LIBO Page, the rate in respect of such Interest Determination Date will be determined on the basis of the rates at which deposits in U.S. dollars
are offered by four major banks in the London interbank market (selected by the Calculation Agent) at approximately 11:00 A.M., London time, on the Interest Determination Date next preceding
the relevant Interest Reset Date to prime banks in the London
interbank market for a period of the Index Maturity commencing on that Interest Reset Date and in a principal amount equal to an amount not less than $1,000,000 that is representative for a single
transaction in such market at such time. In such case, the Calculation Agent will request the principal London office of each of the aforesaid major banks to provide a quotation of such rate. If at
least two such quotations are provided in respect of such Interest Determination Date, the rate for that Interest Reset Date will be the arithmetic mean of the quotations, and, if fewer than two
quotations are provided as requested in respect of such Interest Determination Date, the rate for that Interest Reset Date will be the arithmetic mean of the rates quoted by three major banks in New
York City, selected by the Calculation Agent, at approximately 11:00 A.M. New York City time on that Interest Determination Date for loans in U.S. dollars to leading European banks for a period
of the Index Maturity commencing on that Interest Reset Date and in a principal amount equal to an amount not less than $1,000,000 that is representative for a single transaction in such market at
such time, each of the aforementioned cases following the proviso above adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof or by multiplication by the Spread
Multiplier, if any, 

7

 

specified on the face hereof; provided, however, if the aforesaid rate cannot be so determined by the Calculation Agent, LIBOR in respect of such LIBOR
Interest Determination Date will be LIBOR then in effect on such Interest Determination Date. "Telerate Page 3750" means the display page so designated on the Dow Jones Telerate Service (or such other
page as may replace that page on that service, or such other service as may be nominated as the information vendor, for the purpose of displaying rates or prices relating to LIBOR). "Reuters Screen
LIBO Page" means the display designated as "LIBO" on the Reuters Monitor Money Rates Service (or such other page as may replace the LIBO Page on that service for the purpose of displaying London
interbank offered rates for U.S. dollar deposits). "London Market Day" means any day on which deposits in U.S. dollars are transacted in the London interbank market. 

        Determination of Treasury Rate.    If the Interest Rate Basis specified on the face hereof is the Treasury Rate, the interest
rate with respect to this Note for any Interest Reset Date shall equal (a) the rate for the most recent auction of direct obligations of the United States ("Treasury Bills") having the Index
Maturity specified on the face hereof as published in H.15(519) under the heading "U.S. Government Notes—Treasury Bills—Auction Average (Investment)" on the Treasury
Interest Determination Date (as defined below) or (b) if such rate is not so published by 3:00 P.M., New York City time, on the Calculation Date pertaining to such Treasury Interest
Determination Date, the auction average rate (expressed as bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis) for such auction as otherwise
announced by the United States Department of the Treasury or (c) in the event that the results of the auction of Treasury Bills having the Index Maturity specified on the face hereof are not
published or reported as provided in (a) or (b) above by 3:00 P.M., New York City time, on such Calculation Date or if no such auction is held in a particular week, the yield to
maturity (expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis) of the arithmetic mean, as calculated by the Calculation Agent
on such Calculation Date, of the secondary market bid rates as of approximately 3:30 P.M., New York City time, on such Treasury Interest Determination Date, of three leading primary United
States government notes dealers selected by the Calculation Agent for the issue of Treasury Bills with a remaining maturity closest to the Index Maturity specified on the face hereof, in each of the
above cases adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof;  provided, however, that if such dealers selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Treasury Rate
shall be the Treasury Rate on such Treasury Interest Determination Date. 

        The
"Treasury Interest Determination Date" pertaining to an Interest Reset Date will be the day on which Treasury Bills are auctioned for the week in which such Interest Reset Date
falls, or if no auction is held for such week, the Monday of such week (or if Monday is a legal holiday, the next succeeding Market Day) and the Interest Reset Date will be the Market Day immediately
following such Treasury Interest Determination Date and the Interest Reset Date will be the Market Day following such Treasury Interest Determination Date. If an auction is held for such week on
Monday or the preceding Friday, such Monday or preceding Friday shall be the Treasury Interest Determination Date for such week, and the Interest Reset Date for such week shall be the Tuesday of such
week (or, if such Tuesday is not a Market Day, the next succeeding Market Day). If the auction for such week is held on any day of such week other than Monday, then such date shall be the Treasury
Interest Determination Date and the Interest Reset Date for such week shall be the next succeeding Market Day. 

        Determination of J.J. Kenny Rate.    If the Interest Rate Basis specified on the face hereof is the J.J. Kenny Rate, the
interest rate with respect to this Note for any Interest Reset Date shall be the J.J. Kenny Rate, adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, or by
multiplication of the Spread Multiplier, if any, specified on the face hereof. The "J.J. Kenny 

8

 

Rate" is the rate in the high grade weekly index (the "Weekly Index") on such date made available by Kenny Information Systems ("Kenny") to the Calculation Agent. The Weekly Index is, and shall be,
based upon 30-day yield evaluations at par of bonds, the interest of which is exempt from Federal income taxation under the Internal Revenue Code of 1986, as amended, of not less than five
high grade component issuers selected by Kenny which shall include, without limitation, issuers of general obligation bonds. The specific issuers included among the component issuers may be changed
from time to time by Kenny in its discretion. The bonds on which the Weekly Index is based shall not include any bonds on which the interest is subject to a minimum tax or similar tax under the
Internal Revenue Code of 1986, as amended, unless all tax-exempt bonds are subject to such tax. In the event Kenny ceases to make available such Weekly Index, a successor indexing agent
will be selected by the Calculation Agent, such index to reflect the prevailing rate for bonds rated in the highest short-term rating category by Moody's Investors Service, Inc. and
Standard & Poor's Corporation in respect of issuers most closely resembling the high grade component issuers selected by Kenny for its Weekly Index, the interest on which is (A) variable
on a weekly basis, (B) exempt from Federal income taxation under the Internal Revenue Code of 1986, as amended, and (C) not subject to a minimum tax or similar tax under the Internal
Revenue of Code of 1986, as amended, unless all tax-exempt bonds are subject to such tax. If such successor indexing agent is not available, the rate for any J.J. Kenney Interest
Determination Date shall be 67% of the rate determined if the Treasury Rate option had been originally selected. The Calculation Agent shall calculate the J.J. Kenny Rate in accordance with the
foregoing. 

        Determination of 11th District Cost of Funds Rate.    If the Interest Rate Basis specified on the face hereof is the 11th
District Cost of Funds Rate, the interest rate with respect to this Note for any Interest Reset Date shall be the 11th District Cost of Funds Rate, adjusted by the addition or subtraction of the
Spread, if any, specified on the face hereof or the multiplication of the Spread Multiplier, if any, specified on the face hereof. The "11th District Cost of Funds Rate" with respect to any Interest
Determination Date is the monthly 11th District Cost of Funds Index (the "11th District Cost of Funds Index") normally made available and subsequently published by the Federal Home Loan Bank of San
Francisco (the "FHLB of San Francisco") during the month immediately preceding the Interest Reset Date to which such 11th District Cost of Funds Interest Determination Date applies. 

        If
the FHLB of San Francisco shall fail in any month to make available the 11th District Cost of Funds Index (each such failure being referred to herein as an "Alternate Rate Event"),
then the 11th District Cost of Funds Rate for the 11th District Cost of Funds Interest Determination Date after the Alternate Rate Event shall be calculated on the basis of the 11th District Cost of
Funds Index most recently made available prior to such 11th District Costs of Funds Interest Determination Date. If an Alternate Rate Event occurs in the month immediately following a month in which a
prior Alternate Rate Event occurred, then the 11th District Cost of Funds Rate for the 11th District Cost of Funds Interest Determination Date immediately following the second Alternate Rate Event
shall be calculated on the basis of the 11th District Cost of Funds Index most recently made available prior to such 11th District Cost of Funds Interest Determination Date and, thereafter, the 11th
District Cost of Funds Rate for each succeeding 11th District Cost of Funds Interest Determination Date shall be LIBOR, determined as though the Interest Rate Basis were LIBOR and the Spread shall be
plus or minus the number of basis points specified in the applicable 11th District Cost of Funds Rate Note as the "Alternate Rate Event Spread," if any. 

        In
determining that the FHLB of San Francisco has failed in any month to make available the 11th District Cost of Funds Index, the Calculation Agent may rely conclusively on any written
advice from the FHLB of San Francisco to such effect. 

        Determination of CMT Rate.    If the Interest Rate Basis specified on the face hereof is the CMT Rate, the interest rate with
respect to this Note for any Interest Reset Date shall be the CMT Rate, adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof or by the 

9

 

multiplication of the Spread Multiplier, if any, specified on the face hereof. The "CMT Rate" for each Interest Reset Date is the rate displayed for the applicable Index Maturity on Telerate Page
7055 for "Daily Treasury Constant Maturities and Money Markets... Federal Reserve Board Release H.15... Mondays Approximately 3:45 p.m. EDT," for the applicable CMT Interest Determination Date
(or such other page as may replace that page on such.service for the purpose of displaying rates or prices comparable to the CMT Rate, as determined by the Calculation Agent). If such rate is not so
available by 3:00 P.M., New York City time, on the applicable Calculation Date, then the CMT Rate for such Interest Reset Date shall be the yield to maturity of the arithmetic mean (as
calculated by the Calculation Agent) of the secondary market bid rates, as of 3:00 P.M., New York City time, on the applicable CMT Interest Determination Date, reported, according to their
written records, by three leading primary United States government securities dealers in the City of New York (each, a "Reference Dealer") selected by the Calculation Agent, for the most recently
issued direct noncallable fixed rate obligations of the United States ("Treasury Notes") with an original maturity approximately equal to the Index Maturity. If the Calculation Agent cannot obtain
such Treasury Note quotations from at least three such Reference Dealers, then the CMT Rate will be the CMT Rate in effect on the preceding Interest Reset Date, or in the case of the first Interest
Reset Date, the Initial Interest Rate. 

        The
term "New York Business Day" means any other day other than a Saturday or Sunday or a day on which banking institutions in New York City are authorized or required by law or
executive order to close. 

        Unless
otherwise specified on the face hereof, the Calculation Date pertaining (i) to any Commercial Paper Rate Interest Determination Date, CD Rate Interest Determination Date,
Treasury Interest Determination Date, Federal Funds Rate Interest Determination Date, J.J. Kenny Rate Interest Determination Date, 11th District Cost of Funds Rate Interest Determination Date or CMT
Rate Interest Determination Date, as the case may be, shall be the tenth day after such interest determination date or, if any such day is not a Market Day with respect to this Note, the next
succeeding Market Day and (ii) to any Prime Rate Interest Determination Date or LIBOR Interest Determination Date shall be such Prime Rate Interest Determination Date or such LIBOR Interest
Determination Date, as the case may be. The Calculation Agent shall calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date. At the request of the Holder
hereof, the Calculation Agent will provide to the Holder hereof the interest rate hereon then in effect and, if determined, the interest rate which will become effective as of the next Interest Reset
Date. Unless otherwise specified on the face hereof, the Calculation Agent shall be the Issuing and Paying Agent. 

        THIS
NOTE IS NOT SUBJECT TO REDEMPTION OR PREPAYMENT PRIOR TO THE MATURITY DATE. 

        If
this Note is designated on the face hereof as an Original Issue Discount Note, then, notwithstanding anything to the contrary contained in this Note, upon the redemption or
acceleration of the Maturity Date of this Note there shall be payable, in lieu of the principal amount due on the Maturity Date hereof, as specified on the face hereof, an amount equal to the
Amortized Face Amount of this Note. The "Amortized Face Amount" shall be the amount equal to (a) the issue price of this Note, plus (b) that portion of the difference between the issue
price and the principal amount of this Note that has been amortized at the Stated Yield (as defined below) of this Note (computed in accordance with generally accepted United States bond yield
computation principles) at the date as of which the Amortized Face Amount is calculated, but in no event shall the Amortized Face Amount exceed the principal amount of this Note due on the Maturity
Date hereof. As used in the previous sentence the "Stated Yield" means the Yield to Maturity specified on the face hereof (or if not so specified, the yield to maturity compounded
semi-annually and computed in accordance with generally accepted United States bond yield computation principles) for the period from the Issue Date to the Maturity Date on the basis of
the issue price and such principal amount. 

10

 

        For
purposes of this Note, an "Event of Default" shall mean any one of the following events: 

	(1)
	default
in the payment of any interest upon this Note when it becomes due and payable, and continuance of such default for a period of 30 days; or

	(2)
	default
in the payment of the principal of (or premium, if any, on) this Note when due; or

	(3)
	default
in the performance of any covenant or agreement of the Bank contained in this Note which continues for 60 days after receipt of written notice given by the Holder; or

	(4)
	the
Bank shall consent to the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation, readjustment of debt,
marshaling of assets and liabilities or similar proceedings of or relating to the Bank or of or relating to all or substantially all of its property; or a decree or order of a court or agency or
supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation
readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Bank and such
decree or order shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or the Bank shall file a petition to take advantage of any applicable insolvency or
reorganization statute. 

        If
an Event of Default with respect to this Note shall occur and be continuing, the Holder of this Note may (i) declare the principal of this Note (or, if this Note is an Original
Issue Discount Note, the Amortized Face Amount thereof) due and payable, and/or (ii) institute a judicial proceeding for the enforcement of the terms of this Note, including the collection of
all sums due and unpaid hereunder, prosecute such proceeding to judgment for final decree and enforce the same against the Bank and collect moneys adjudged or decreed to be payable in the manner
provided by law out of the property of the Bank and/or (iii) take such other action at law or in equity as may appear necessary or desirable to collect and enforce this Note. Any Event of
Default with respect to this Note may be waived by the Holder. 

        The
Bank may not consolidate with or merge into any other person or convey, transfer or lease its properties and assets substantially as an entirety to any person, unless (a) the
surviving entity in such consolidation or merger, or the person that acquires by conveyance, transfer or lease the properties and assets of the Bank substantially as an entirety shall be a bank,
corporation or partnership organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia, and shall expressly assume, by a supplement to
this Note, the due and punctual payment of the principal of, premium, if any, and interest on this Note, and the performance or observance of every provision of this Note on the part of the Bank to be
performed or observed, and (b) immediately after giving effect to such transaction, no Event of Default, and no event which, with giving of notice or the lapse of time or both, would become an
Event of Default, shall have occurred and be continuing. 

        All
notices to the Bank under this Note shall be in writing or addressed to the Bank at 400 North Roxbury Drive, 5th Floor, Beverly Hills, California 90210, Attention: General Counsel,
or to such other address as the Bank may notify the Holder. 

        All
terms used in this Note which are defined in the Issuing and Paying Agency Agreement shall have the meanings assigned to them in the Issuing and Paying Agency Agreement. 

11

  

 
 

EXHIBIT B-2 TO
  ISSUING AND PAYING
  AGENCY AGREEMENT
  (Medium-Term Floating)    
  

	REGISTERED	 	 	 	REGISTERED
	

 	
 	

CITY NATIONAL BANK	
 	

 
	

No. FLRA-                  	
 	

MEDIUM TERM NOTE

(Floating)	
 	

CUSIP                   

        This
Note is a Global Note within the meaning of the Issuing and Paying Agency Agreement hereinafter referred to and is registered in the name of the Depositary or a nominee thereof.
This Note may not be exchanged in whole or in part for a Note registered, and no transfer of this Note in whole or in part may be registered in the name of any Person other than such Depositary or a
nominee thereof except in the limited circumstances described in the Issuing and Paying Agency Agreement. 

        Unless
this Certificate is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company
and any payment hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede &
Co., has an interest herein. 

        This
Note must be held in minimum denominations of $250,000 and is not exchangeable for Notes in smaller denominations. 

        [Senior Bank Note: THIS NOTE IS A DIRECT, UNSECURED AND UNSUBORDINATED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION
EVIDENCED BY THIS NOTE RANKS PART PASSU WITH ALL OTHER UNSECURED AND UNSUBORDINATED OBLIGATIONS OF THE BANK, EXCEPT OBLIGATIONS THAT ARE BY LAW SUBJECT TO ANY PRIORITIES OR PREFERENCES, INCLUDING
DEPOSIT OBLIGATIONS OF THE BANK.] 

        [Subordinated Bank Note: THE OBLIGATION EVIDENCED BY THIS NOTE IS UNSECURED AND IS SUBORDINATED AND JUNIOR IN RIGHT OF PAYMENT
TO THE BANK'S OBLIGATIONS TO ITS DEPOSITORS AND TO THE BANK'S OTHER OBLIGATIONS TO ITS GENERAL AND SECURED CREDITORS AND IS INELIGIBLE AS COLLATERAL TO SECURE A LOAN FROM THE BANK. THIS NOTE IS NOT A
SAVINGS ACCOUNT OR A DEPOSIT OF 

1

 

ANY BANK AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY.] 

	PRINCIPAL AMOUNT:	 	 
	

ISSUE DATE:	
 	

MATURITY DATE:
	

INTEREST RATE BASIS:	
 	

COMPUTATION PERIOD:
	

INTEREST PAYMENT DATE(S):	
 	

REGULAR RECORD DATE(S):
	

INDEX MATURITY:	
 	

SPREAD (PLUS OR MINUS):
	

INITIAL INTEREST RATE:	
 	

SPREAD MULTIPLIER:
	

MAXIMUM INTEREST RATE:	
 	

MINIMUM INTEREST RATE:
	

INTEREST PAYMENT PERIOD:
 (monthly, quarterly, semi-annually or annually)	
 	

INTEREST PAYMENT MONTH(S):
	

INTEREST RESET PERIOD:
 (monthly, quarterly, semi-annually or annually)	
 	

INTEREST RESET MONTH(S):
	

INTEREST RESET DATE(S):	
 	

INTEREST DETERMINATION DATE(S)
	

CALCULATION DATE:	
 	

CALCULATION AGENT:
	

REDEMPTION DATE(S):	
 	

REDEMPTION PERCENTAGE(S)
 (if other than 100% of Principal Amount):
	

REDEMPTION DATE(S)

(OPTION OF HOLDER):	
 	

REDEMPTION PERCENTAGE(S)

(OPTION OF HOLDER)
 (if other than 100% of Principal Amount):
	

[ORIGINAL ISSUE DISCOUNT NOTE]
 (if applicable)	
 	

[YIELD TO MATURITY:]
 (if Original Issue Discount Note)
	

OTHER PROVISIONS:
 (Add other provisions, as applicable, including, without limitation,

provisions providing for a sinking fund, extension renewal,

calculation of interest by reference to an index, amortization, etc.)	
 	

 

        CITY
NATIONAL BANK, a national banking association duly organized and existing under the laws of the United States of America (herein called the "Bank", which term includes any successor
thereof), for value received, hereby promises to pay to CEDE & Co., as nominee for The Depository Trust Company, or registered assigns, the principal amount specified above on the Maturity Date
specified above (the "Maturity Date") and to pay interest thereon, from and including the Issue Date specified above (the "Issue Date") or from and including the most recent Interest Payment Date to
which interest on this Note (or any predecessor Note) has been paid or duly provided for to, but excluding, the Interest Payment Date (as hereinafter defined), at a rate per annum equal to the Initial
Interest Rate specified above (the "Initial Interest Rate") until the first Interest Reset Date (as defined on the reverse hereof) following the Issue Date and thereafter at a rate determined in
accordance with the provisions on the reverse hereof under the heading "Determination of Commercial Paper Rate," "Determination of Prime Rate," "Determination of CD Rate," "Determination of Federal
Funds Rate," "Determination of LIBOR," "Determination of Treasury Rate," "Determination of J.J. Kenny Rate," "Determination of 11th District Cost of Funds Rate" or "Determination of CMT Rate,"
depending upon whether the Interest Rate Basis specified above is the Commercial Paper Rate, Prime Rate, CD Rate, Federal Funds Rate, LIBOR, Treasury Rate, J.J. Kenny Rate, 11th District Cost of 

2

 

Funds Rate or CMT Rate until the principal hereof is paid or duly made available for payment; the Bank will make all such payments in respect of this Note in U.S. dollars in amounts determined as set
forth on the reverse hereof. Such interest shall be payable by the Bank monthly, quarterly, semi-annually or annually as specified above under "Interest Payment Period" and, unless
otherwise specified above under "Interest Payment Date(s)," such interest shall be payable by the Bank on the third Wednesday of the month or months specified above under "Interest Payment Month(s)"
in each year (each date so specified above or, if none is so specified, determined as herein provided, an "Interest Payment Date") and on the Maturity Date. The interest so payable, and punctually
paid or duly provided for, on any such Interest Payment Date will be paid to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the
fifteenth day (whether or not a Market Day) next preceding such Interest Payment Date, unless a different Regular Record Date is specified above (the "Regular Record Date");  provided, however, that
interest payable on the Maturity Date will be payable to the Person to whom principal shall be payable; and  provided, further that if the Issue Date is after a Regular Record Date and before the next
succeeding Interest Payment Date the first payment of
interest shall be payable on the second Interest Payment Date following the Issue Date to the Person in whose name this Note (or one or more predecessor Notes) is registered at the close of business
on the Regular Record Date immediately preceding such Interest Payment Date. 

        As
provided in this Note, if any Interest Payment Date shown on the face hereof would otherwise be a day that is not a Market Day (as defined in the reverse hereof) such Interest Payment
Date shall be postponed to the next day that is a Market Day, except that if the rate of interest on this Note shall be determined in accordance with the provisions of the heading "Determination of
LIBOR," and such Market Day is in the next succeeding calendar month, such Interest Payment Date shall be the immediately preceding Market Day. If the Maturity Date of this Note would otherwise be a
day that is not a Market Day, the payment of principal (and premium, if any) and interest may be made on the next succeeding Market Day with the same force and effect as if made on the due date
therefor, and no interest on such payment will accrue from the Maturity Date to such next succeeding Market Day. 

        No
interest shall accrue on any amount of principal of (premium, if any) or interest on this Note after the due date therefore; provided
that, to the extent permitted by applicable law, interest shall accrue on any amount of principal (premium, if any) or interest not paid or duly provided for on the date due, from and including the
date due to, but excluding, the date paid, at the interest rate then in effect (or, in the case of any such amount due on the Maturity Date, at the interest rate in effect immediately prior to the
Maturity Date). 

        Payment
of the principal of (and premium, if any) and interest on this Note will be made on each Interest Payment Date by the Issuing and Paying Agent, in immediately available funds to
the Depositary or its nominee as Holder of this Note; provided, however, that payment of the principal of (and premium, if any) and interest on this
Note due on the Maturity Date will be made in immediately available funds at the office of the Issuing and Paying Agent at 2 Broadway, New York, New York 10004, if this Note is presented to the
Issuing and Paying Agent in time for the Issuing and Paying Agent to make such payments in such funds in accordance with its normal procedures. 

        Reference
is hereby made to the further provisions of this 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. 

        This
Note and the obligations of the Bank evidenced hereby shall be governed by and construed in accordance with the laws of the State of New York and, where applicable, the laws of the
United States of America. 

        Unless
the certificate of authentication hereon has been executed by the Issuing and Paying Agent referred to on the reverse hereof by manual signature, this Note shall not be entitled
to any benefit under the Issuing and Paying Agency Agreement or be valid or obligatory for any purpose. 

3

 

        IN
WITNESS WHEREOF, the Bank has caused this instrument to be duly executed and countersigned as of the date set forth herein. 

	Dated:	 	 	 	CITY NATIONAL BANK
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

 	
 	

 
	 	 	 	 	By	 	 
	 	 	 	 	 	 	
 Authorized Signature
	

 	
 	

 	
 	

 	
 	

 
	Attest:	 	 	 	 	 	 
	

 	
 	

 	
 	

 	
 	

 
	
	 	 	 	 
	CERTIFICATE OF AUTHENTICATION	 	 	 	 
	

This is one of the Notes referred to in the within-mentioned Issuing and Paying Agency Agreement	
 	

 	
 	

 
	

CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

as Issuing and Paying Agent	
 	

 	
 	

 

	

 	
 	

 	
 	

 
	By	 	 	 	 
	 	 	
 Authorized Signature	 	 

4

 
[Form
of Reverse of Note] 

        This
Note is one of a duly authorized issue of notes of the Bank (the "Notes") issued and to be issued under the Issuing and Paying Agency Agreement, dated as of January 7, 1998
(the "Issuing and Paying Agency Agreement"), between the Bank and Continental Stock Transfer & Trust Company, as Issuing and Paying Agent (herein called the "Issuing and Paying Agent," which
term includes any successor issuing and paying agent under the Issuing and Paying Agency Agreement), to which Issuing and Paying Agency Agreement and all issuing and paying agency agreements
supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Bank and the Issuing and Paying Agent and of the
terms upon which the Notes are, and are to be, authenticated and delivered. Except as otherwise may be stated on the face hereof, the Notes are issuable only as registered Global Notes, without
coupons, in denominations of $250,000 and integral multiples of $1,000 in excess thereof. The Notes may be issued from time to time in various principal amounts, may mature at different times, may
bear interest at different rates, may be subject to different redemption provisions, if any, and may otherwise vary. 

        [FOR SENIOR BANK NOTES: THIS NOTE IS A DIRECT, UNCONDITIONAL, UNSECURED AND UNSUBORDINATED GENERAL OBLIGATION OF THE BANK. THE
OBLIGATION EVIDENCED BY THIS NOTE RANKS PARI PASSU WITH ALL OTHER UNSECURED AND UNSUBORDINATED OBLIGATIONS OF THE BANK, EXCEPT OBLIGATIONS, INCLUDING DEPOSIT OBLIGATIONS OF THE BANK, THAT ARE REQUIRED
BY LAW TO BE SUBJECT TO ANY PRIORITIES OR PREFERENCES. THIS NOTE DOES NOT EVIDENCE A DEPOSIT AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT
AGENCY.] 

        [FOR SUBORDINATED BANK NOTES: THIS NOTE IS A DIRECT, UNSECURED GENERAL OBLIGATION OF THE BANK. THE OBLIGATION EVIDENCED BY
THIS NOTE IS SUBORDINATED AND JUNIOR IN RIGHT OF PAYMENT TO THE BANK'S OBLIGATION TO ITS DEPOSITORS AND TO THE BANK'S OTHER OBLIGATIONS TO ITS GENERAL AND SECURED CREDITORS AND IS INELIGIBLE AS
COLLATERAL TO SECURE A LOAN FROM THE BANK. THIS NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT OF ANY BANK AND
IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY.] 

        Accrued
interest hereon shall be calculated by multiplying the principal amount specified on the face hereof by an accrued interest factor. Such accrued interest factor shall be computed
by adding the interest factor calculated for each day in the period for which accrued interest is being calculated. The interest factor (expressed as a decimal rounded, if necessary, as described
below) for each such day shall be computed by dividing the interest rate (expressed as a decimal rounded, if necessary, as described below) applicable to such day by 360, if the Interest Rate Basis
specified on the face hereof is the Commercial Paper Rate, Prime Rate, CD Rate, Federal Funds Rate, LIBOR, J.J. Kenny Rate or 11th District Cost of Funds Rate, by the actual number of days in the year
(365 or 366, as the case may be) if the Interest Rate Basis specified on the face hereof is the Treasury Rate or the CMT Rate, or by the number of days in the Computation Period specified on the face
hereof, if any. Except as otherwise provided herein, all percentages resulting from any calculation with respect to this Note will be rounded, if necessary, to the nearest one-hundred
thousandth of a percentage point, with five one-millionths of a percentage point rounded upwards (e.g., 9.876545% (or.09876545) being rounded to 9.87655% (or.0987655) and 9.876544%
(or.09876544) being rounded to 9.87654% (or .0987654)), and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with one-half cent being
rounded upwards). 

        The
rate of interest on this Note will be reset daily, weekly, monthly, quarterly, semi-annually or annually, as specified on the face hereof under Interest Reset Period (the
"Interest Reset Period"; and 

5

 

each date upon which interest is so reset as provided below being hereinafter referred to as an "Interest Reset Date"), and the interest rate in effect on any day shall be (a) if such day is
an Interest Reset Date, the interest rate for such Interest Reset Date or (b) if such day is not an Interest Reset Date the interest rate for the immediately preceding Interest Reset Date;  provided,
however, that (i) the interest rate in effect from the Issue Date of this Note (or one or more predecessor Notes) to but excluding the
first Interest Reset Date will be the Initial Interest Rate and (ii) the interest rate in effect for the ten calendar days immediately prior to the Maturity Date of this Note will be that in
effect on the tenth calendar day preceding the Maturity Date. Notwithstanding the foregoing, the interest rate hereon shall not be greater than the Maximum Interest Rate, if any, specified on the face
hereof (the "Maximum Interest Rate") or less than the Minimum Interest Rate, if any, specified on the face hereof (the "Minimum Interest Rate") and in no event shall be higher than the maximum rate
permitted by California law, as the same may be modified by United States law of general application. Unless otherwise specified on the face hereof and except as provided in the next succeeding
sentence, the Interest Reset Date with respect to this Note will be, if the Interest Reset Period specified on the face hereof is daily, each Market Day (as defined below); if the Interest Reset
Period specified on the face hereof is weekly (unless the Interest Rate Basis specified on the face hereof is the Treasury Rate), the Wednesday of each week; if the Interest Reset Period specified on
the face hereof is weekly and the Interest Rate Basis specified on the face hereof is the Treasury Rate, except as otherwise provided below, the Tuesday of each week; if the Interest Reset Period
specified on the face hereof is monthly, the third Wednesday of each month; if the Interest Reset Period specified on the face hereof is quarterly, the third Wednesday of each March, June, September
and December; if the Interest Reset Period specified on the face hereof is semi-annually, the third Wednesday of two months in each year specified under "Interest Reset Month(s)" on the
face hereof; and if the Interest Reset Period specified on the face hereof is annually, the third Wednesday of the month in each year specified under "Interest Reset Month(s)" on the face hereof. If,
pursuant to the preceding sentence, any Interest Reset Date
would otherwise be a day that is not a Market Day with respect to this Note, the Interest Reset Date shall be the next succeeding day that is a Market Day with respect to this Note, except that if the
Interest Rate Basis specified on the face hereof is LIBOR and the next succeeding Market Day falls in the next succeeding calendar month, such Interest Reset Date shall be the immediately preceding
Market Day. Subject to applicable provisions of law and except as specified herein, on each Interest Reset Date the rate of interest on this Note shall be the rate determined in accordance with the
provisions of the applicable heading below. 

        "Market
Day" means (i) with respect to any Note the rate of interest of which is determined other than in accordance with the provisions of the heading "Determination of LIBOR"
below, any day that is not a Saturday or Sunday and that, in the City of New York, New York or the City of Los Angeles, California, is not a day on which banking institutions generally are authorized
or obligated by law or executive order to close (any such day, a "Business Day") and (ii) with respect to any Note the rate of interest on which is determined in accordance with the provisions
of the heading "Determination of LIBOR" below, any Business Day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

        Determination of Commercial Paper Rate.    If the Interest Rate Basis specified on the face hereof is the Commercial Paper Rate,
the interest rate with respect to this Note for any Interest Reset Date shall equal (a) the Money Market Yield (calculated as described below) of the rate on the second Market Day with respect
to this Note immediately preceding such Interest Reset Date (the "Commercial Paper Interest Determination Date") for commercial paper having the Index Maturity specified on the face hereof, as
published in "Statistical Release H.15(519), Selected Interest Rates," or any successor publication published by the Board of Governors of the Federal Reserve System ("H.15(519)"), under the heading
"Commercial Paper," or (b) if such rate is not published in H.15(519) by 3:00 P.M., New York City time, on such Calculation Date, the Money Market Yield of the arithmetic mean, as
calculated by the Calculation Agent on such Calculation Date, of the offered rates, 

6

 

as of 11:00 A.M., New York City time, on such Commercial Paper Interest Determination Date, of three leading dealers of commercial paper in the City of New York selected by the Calculation
Agent for commercial paper having the Index Maturity specified on the face hereof placed for an industrial issuer whose senior unsecured bond rating is "AA," or the equivalent, from a nationally
recognized statistical rating agency, in each of the above cases adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, or by multiplication by the Spread
Multiplier, if any, specified on the face hereof; provided, however, that if fewer than three such dealers selected as aforesaid by the Calculation
Agent are quoting as mentioned in this sentence, the Commercial Paper Rate shall be the Commercial Paper Rate in effect on such Commercial Paper Interest Determination Date. 

        "Money
Market Yield" shall be a yield (expressed as a percentage), calculated in accordance with the following formula: 

	        Money Market Yield =	 	D × 360	 	× 100	 
	 	 	
	 	 	 
	 	 	360 - (D × M)

	 	 	 

where
"D" refers to the per annum rate for commercial paper quoted on a bank discount basis and expressed as a decimal; and "M" refers to the actual number of days in the interest period for which
interest is being calculated. 

        Determination of Prime Rate.    If the Interest Rate Basis specified on the face hereof is the Prime Rate, the Interest Rate
with respect to this Note for any Interest Reset Date shall equal (a) the rate set forth on the second Market Day preceding such Interest Reset Date (the "Prime Rate Interest Determination
Date") in H.I5(519) under the heading "Bank Prime Loan" or (b) in the event that such rate is not published prior to 3:00 P.M. New York City time, on the Prime Rate Interest
Determination Date, the arithmetic mean as calculated by the Calculation Agent of (1) the rates of interest publicly announced by each bank that appears on the Reuters Screen USPRIME1 Page (as
hereinafter defined) as such bank's prime rate or base lending rate as in effect for that Prime Rate Interest Determination Date or (2) if fewer than four such rates appear on the Reuters
Screen USPRIME1 Page for the Prime Rate Interest Determination Date, the announced prime rates quoted on the basis of the actual number of days in the year divided by 360 as of the close of business
in the City of New York on the Interest Determination Date by at least two of three major money center banks in the City of New York selected by the Calculation Agent or (3) if fewer than two
such banks quote such a rate, the rates furnished in the City of New York on such Prime Rate Interest Determination Date by the appropriate number of substitute banks or trust companies selected by
the Calculation Agent that are organized and doing business under the laws of the United States or any state thereof, have total equity capital of at least $500 million, and are subject to
supervision or examination by Federal or state authority, in any such case, adjusted by addition or subtraction of the Spread, if any, specified on the face hereof; or by multiplication by the Spread
Multiplier, if any, specified on the face hereof; provided, however, that if fewer than three such substitute banks or trust companies are so quoting
such rates, the interest rate in effect hereon shall be the rate in effect hereon on such Interest Determination Date. For purposes hereof, "Reuters Screen USPRIME1 Page" means the display designated
as page "USPRIME1" on the Reuters Monitor Money Rates Service (or such other page as may replace the USPRIME1 page on that service for the purpose of displaying the prime rate or base lending rate of
major United States banks). 

        Determination of CD Rate.    If the Interest Rate Basis specified on the face hereof is the CD Rate, the Interest Rate with
respect to any Interest Reset Date shall equal (a) the rate on the second Market Day with respect to this Note immediately preceding such Interest Reset Date (the "CD Rate Interest
Determination Date") for negotiable certificates of deposit having the Index Maturity specified on the 

7

 

face hereof, as published in H.I5(519) under the heading "CDs (Secondary Market)," or (b) if such rate is not yet published in H.15(519) by 3:00 P.M., New York City time,
on such Calculation Date the arithmetic mean, as calculated by the Calculation Agent, of the secondary market offered rates, as of 10:00 A.M., New York City time, on such CD Rate Interest
Determination Date, of three leading nonbank dealers of negotiable U.S. dollar certificates of deposit in the City of New York selected by the Calculation Agent for negotiable certificates of deposit
of major United States money market banks with a remaining maturity closest to the Index Maturity specified on the face hereof in a denomination of $5,000,000 in each of the above cases adjusted by
the addition or subtraction of the Spread, if any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof; provided,
however, that if fewer than three dealers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the CD Rate will be the CD Rate in effect on
such CD Rate Interest Determination Date. 

        Determination of Federal Funds Rate.    If the Interest Rate Basis specified on the face hereof is the Federal Funds Rate, the
interest rate with respect to this Note for any Interest Reset Date shall equal (a) the rate on the second Market Day with respect to this Note immediately preceding such Interest Reset Date
(the "Federal Funds Interest Determination Date") for Federal Funds having the Index Maturity specified on the face hereof as published in H.I5(519) under the heading "Federal Funds
(Effective)" or (b) if by 3:00 P.M., New York City time, on such Calculation Date such rate is not yet published in H.15(519), the arithmetic mean, as calculated by the Calculation Agent
on such Calculation Date, of the rates, prior to 9:00 A.M., New York City time, on such Federal Funds Interest Determination Date, for the last transaction in overnight Federal Funds arranged
by three leading brokers of Federal Funds transactions in the City of New York selected by the Calculation Agent, in each of the above cases adjusted by the addition or subtraction of the Spread, if
any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof; provided, however, that if fewer
than three brokers selected as aforesaid by the Calculation Agent are quoting as mentioned in this sentence, the Federal Funds Rate will be the Federal Funds Rate in effect on such Federal Funds
Interest Determination Date. 

        Determination of LIBOR.    If the Interest Rate Basis specified on the face hereof is LIBOR, the interest rate with respect to
this Note for any Interest Reset Date shall be determined by the Calculation Agent and shall equal to the greater of either (i) the offered rate for deposits in U.S. dollars having the Index
Maturity specified on the face hereof commencing on the second London Market Day immediately following the Interest Determination Date which appears on the Telerate Page 3750 (as defined herein) as of
11:00 A.M. London time, on such Interest Determination Date, adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof or by multiplication by the Spread
Multiplier, if any, specified on the face hereof ("LIBOR Telerate") or (ii) the arithmetic mean of the offered rates for deposits in U.S. dollars having the Index Maturity designated on the
face hereof, commencing on the second London Market Day immediately following that LIBOR Interest Determination Date, that appear on the Reuters Screen LIBO Page as of 11:00 A.M., London time,
on that LIBOR Interest Determination Date, if at least two such offered rates appear on the Reuters Screen LIBO Page, adjusted by the addition or subtraction of the Spread, if any, specified on the
face hereof or by multiplication by the Spread Multiplier, if any, specified on the face hereof ("LIBOR Reuters"). If neither LIBOR Telerate nor LIBOR Reuters is specified on the face hereof, LIBOR
will be determined as if LIBOR Telerate had been specified; provided, however, if such rate does not so appear on the Telerate Page 3750 or if fewer
than two offered rates appear on the Reuters Screen LIBO Page, the rate in respect of such Interest Determination Date will be determined on the basis of
the rates at which deposits in U.S. dollars are offered by four major banks in the London interbank market (selected by the Calculation Agent) at approximately 11:00 A.M., London time, on the
Interest Determination Date next preceding the relevant Interest Reset Date to prime banks in the London interbank market for a period of the Index Maturity commencing on that Interest Reset Date and
in a principal amount equal to an amount not less than $1,000,000 that is 

8

 

representative for a single transaction in such market at such time. In such case, the Calculation Agent will request the principal London office of each of the aforesaid major banks to provide a
quotation of such rate. If at least two such quotations are provided in respect of such Interest Determination Date, the rate for that Interest Reset Date will be the arithmetic mean of the
quotations, and, if fewer than two quotations are provided as requested in respect of such Interest Determination Date, the rate for that Interest Reset Date will be the arithmetic mean of the rates
quoted by three major banks in New York City, selected by the Calculation Agent, at approximately 11:00 A.M. New York City time on that Interest Determination Date for loans in U.S. dollars to
leading European banks for a period of the Index Maturity commencing on that Interest Reset Date and in a principal amount equal to an amount not less than $1,000,000 that is representative for a
single transaction in such market at such time, each of the aforementioned cases following the proviso above adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof
or by multiplication by the Spread Multiplier, if any, specified on the face hereof; provided, however, if the aforesaid rate cannot be so determined by
the Calculation Agent, LIBOR in respect of such LIBOR Interest Determination Date will be LIBOR then in effect on such Interest Determination Date. "Telerate Page 3750" means the display page so
designated on the Dow Jones Telerate Service (or such other page as may replace that page on that service, or such other service as may be nominated as the information vendor, for the purpose of
displaying rates or prices relating to LIBOR). "Reuters Screen LIBO Page" means the display designated as "LIBO" on the Reuters Monitor Money Rates Service (or such other page as may replace the LIBO
Page on that service for the purpose of displaying London interbank offered rates for U.S. dollar deposits). "London Market Day" means any day on which deposits in U.S. dollars are transacted in the
London interbank market. 

        Determination of Treasury Rate. If the Interest Rate Basis specified on the face hereof is the Treasury Rate, the interest rate with
respect to this Note for any Interest Reset Date shall equal (a) the rate for the most recent auction of direct obligations of the United States ("Treasury Bills") having the Index Maturity
specified on the face hereof as published in H.15(519) under the heading "U.S. Government Notes—Treasury Bills—Auction Average (Investment)" on the Treasury Interest
Determination Date (as defined below) or (b) if such rate is not so published by 3:00 P.M., New York City time, on the Calculation Date pertaining to such Treasury Interest Determination
Date, the auction average rate (expressed as bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis) for such auction as otherwise announced by
the United States Department of the Treasury or (c) in the event that the results of the auction of Treasury Bills having the Index Maturity specified on the face hereof are not published or
reported as provided in (a) or (b) above by 3:00 P.M., New York City time, on such Calculation Date or if no such auction is held in a particular week, the yield to maturity
(expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis) of the arithmetic mean, as calculated by the Calculation Agent on such
Calculation Date, of the secondary market bid rates as of approximately 3:30 P.M., New York City time, on such Treasury Interest Determination Date, of three leading primary United States
government notes dealers selected by the Calculation Agent for the issue of Treasury Bills with a remaining maturity closest to the Index Maturity specified on the face hereof, in each of the above
cases adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, or by multiplication by the Spread Multiplier, if any, specified on the face hereof;  provided, however,
that if such dealers
selected as aforesaid by the Calculation Agent are not quoting as mentioned in this sentence, the Treasury Rate shall be the Treasury Rate on such Treasury Interest Determination Date. 

9

   
        The "Treasury Interest Determination Date" pertaining to an Interest Reset Date will be the day on which Treasury Bills are auctioned for the week in which such Interest Reset Date
falls, or if no auction is held for such week, the Monday of such week (or if Monday is a legal holiday, the next succeeding Market Day) and the Interest Reset Date will be the Market Day immediately
following such Treasury Interest Determination Date and the Interest Reset Date will be the Market Day following such Treasury Interest Determination Date. Treasury Bills are usually sold at auction
on Monday of each week, unless that day is a legal holiday, in which case the auction is usually held on the following Tuesday, except that such auction may be held on the preceding Friday. If an
auction is held for such week on Monday or the preceding Friday, such Monday or preceding Friday shall be the Treasury Interest Determination Date for such week, and the Interest Reset Date for such
week shall be the Tuesday of such week (or, if such Tuesday is not a Market Day, the next succeeding Market Day). If the auction for such week is held on any day of such week other than Monday, then
such date shall be the Treasury Interest Determination Date and the Interest Reset Date for such week shall be the next succeeding Market Day. 

        Determination of J.J. Kenny Rate. If the Interest Rate Basis specified on the face hereof is the J.J. Kenny Rate, the interest rate with
respect to this Note for any Interest Reset Date shall be the J.J. Kenny Rate, adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof, or by multiplication of the
Spread Multiplier, if any, specified on the face hereof. The "J.J. Kenny Rate" is the rate in the high grade weekly index (the "Weekly Index") on such date made available by Kenny Information Systems
("Kenny") to the Calculation Agent. The Weekly Index is, and shall be, based upon 30-day yield evaluations at par of bonds, the interest of which is exempt from Federal income taxation
under the Internal Revenue Code of 1986, as amended, of not less than five high grade component issuers selected by Kenny which shall include, without limitation, issuers of general obligation bonds.
The specific issuers included among the component issuers may be changed from time to time by Kenny in its discretion. The bonds on which the Weekly Index is based shall not include any bonds on which
the interest is subject to a minimum tax or similar tax under the Internal Revenue Code of 1986, as amended, unless all tax-exempt bonds are subject to such tax. In the event Kenny ceases
to make available such Weekly Index, a successor indexing agent will be selected by the Calculation Agent, such index to reflect the prevailing rate for bonds rated in the highest
short-term rating category by Moody's Investors Service, Inc. and Standard & Poor's Corporation in respect of issuers most closely resembling the high grade component issuers
selected by Kenny for its Weekly Index, the interest on which is (A) variable on a weekly basis, (B) exempt from Federal income taxation under the Internal Revenue Code of 1986, as
amended, and (C) not subject to a minimum tax or similar tax under the Internal Revenue of Code of 1986, as amended, unless all tax-exempt bonds are subject to such tax. If such
successor indexing agent is not available, the rate for any J.J. Kenney Interest Determination Date shall be 67% of the rate determined if the Treasury Rate option had been originally selected. The
Calculation Agent shall calculate the J.J. Kenny Rate in accordance with the foregoing. 

        Determination of 11th District Cost of Funds Rate. If the Interest Rate Basis specified on the face hereof is the 11th District Cost of
Funds Rate, the interest rate with respect to this Note for any Interest Reset Date shall be the 11th District Cost of Funds Rate, adjusted by the addition or subtraction of the Spread, if any,
specified on the face hereof or the multiplication of the Spread Multiplier, if any, specified on the face hereof. The "11th District Cost of Funds Rate" with respect to any Interest Determination
Date is the monthly 11th District Cost of Funds Index (the "11th District Cost of Funds Index") normally made available and subsequently published by the Federal Home Loan Bank of San Francisco (the
"FHLB of San Francisco") during the month immediately preceding the Interest Reset Date to which such 11th District Cost of Funds Interest Determination Date applies. 

        The
11th District Cost of Funds Index is normally made available by the FHLB of San Francisco on the last day on which the FHLB of San Francisco is open for business in each month and
represents 

10

 

the monthly weighted average cost of funds for savings institutions in the 11th District of the Federal Home Loan Bank system for the month preceding the month in which the 11th District Cost of
Funds Index is made available. Currently, the 11th District Cost of Funds Index is computed by the FHLB of San Francisco for each month by dividing the cost of funds (interest paid during the month by
11th District savings institutions on savings, advances and other borrowing) by the average of the total amount of those funds outstanding at the end of that month and the prior month and annualizing
and adjusting the result to reflect the actual number of days in the particular month. If necessary, before these calculations are made, the component figures are adjusted by the FHLB of San Francisco
to neutralize the effect of events such as member institutions leaving the 11th District or acquiring institutions outside the 11th District. Receipt by mail of Information Bulletins announcing 11th
District Cost of Funds Index changes may be arranged by contacting the FHLB of San Francisco. 

        If
the FHLB of San Francisco shall fail in any month to make available the 11th District Cost of Funds Index (each such failure being referred to herein as an "Alternate Rate Event"),
then the 11th District Cost of Funds Rate for the 11th District Cost of Funds Interest Determination Date after the Alternate Rate Event shall be calculated on the basis of the 11th District Cost of
Funds Index most recently made available prior to such 11th District Costs of Funds Interest Determination Date. If an Alternate Rate Event occurs in the month immediately following a month in which a
prior Alternate Rate Event occurred, then the 11th District Cost of Funds Rate for the 11th District Cost of Funds Interest Determination Date immediately following the second Alternate Rate Event
shall be calculated on the basis of the 11th District Cost of Funds Index most recently made available prior to such 11th District Cost of Funds Interest Determination Date and, thereafter, the 11th
District Cost of Funds Rate for each succeeding 11th District Cost of Funds Interest Determination Date shall be LIBOR, determined as though the Interest Rate Basis were LIBOR and the Spread shall be
plus or minus the number of basis points specified in the applicable 11th District Cost of Funds Rate Note as the "Alternate Rate Event Spread," if any. 

        In
determining that the FHLB of San Francisco has failed in any month to make available the 11th District Cost of Funds Index, the Calculation Agent may rely conclusively on any written
advice from the FHLB of San Francisco to such effect. 

        Determination of CMT Rate. If the Interest Rate Basis specified on the face hereof is the CMT Rate, the interest rate with respect to this
Note for any Interest Reset Date shall be the CMT Rate, adjusted by the addition or subtraction of the Spread, if any, specified on the face hereof or by the multiplication of the Spread Multiplier,
if any, specified on the face hereof. The "CMT Rate" for each Interest Reset Date is the rate displayed for the applicable Index Maturity on Telerate Page 7055 for "Daily Treasury Constant Maturities
and Money Markets. .. Federal Reserve Board Release H.I5. .. Mondays Approximately 3:45 p.m. EDT," for the applicable CMT Interest Determination Date (or such other page as may replace that
page on such service for the purpose of displaying rates or prices comparable to the CMT Rate, as determined by the Calculation Agent). If such rate is not so available by 3:00 P.M., New York
City time, on the applicable Calculation Date, then the CMT Rate for such Interest Reset Date shall be the yield to maturity of the arithmetic mean (as calculated by the Calculation Agent) of the
secondary market bid rates, as of 3:00 P.M., New York City time, on the applicable CMT Interest Determination Date, reported, according to their written records, by three leading primary United
States government securities dealers in the City of New York (each, a "Reference Dealer") selected by the Calculation Agent, for the most recently issued direct noncallable fixed rate obligations of
the United States ("Treasury Notes") with an original maturity approximately equal to the Index Maturity. If the Calculation Agent cannot obtain three such Treasury Note quotations from at least three
such Reference Dealers, then the CMT Rate will be the CMT Rate in effect on the preceding Interest Reset Date, or in the case of the first Interest Reset Date, the Initial Interest Rate. 

11

 

        The
term "New York Business Day" means any other day other than a Saturday or Sunday or a day on which banking institutions in New York City are authorized or required by law or
executive order to close. 

        Unless
otherwise specified on the face hereof, the Calculation Date pertaining (i) to any Commercial Paper Rate Interest Determination Date, CD Rate Interest Determination Date,
Treasury Interest Determination Date, Federal Funds Rate Interest Determination Date, J.J. Kenny Rate Interest Determination Date, 11th District Cost of Funds Rate Interest Determination Date or CMT
Rate Interest Determination Date, as the case may be, shall be the tenth day after such interest determination date or, if any such day is not a Market Day with respect to this Note, the next
succeeding Market Day and (ii) to any Prime Rate Interest Determination Date or LIBOR Interest Determination Date shall be such Prime Rate Interest Determination Date or such LIBOR Interest
Determination Date, as the case may be. The Calculation Agent shall calculate the interest rate hereon in accordance with the foregoing on or before each Calculation Date. At the request of the Holder
hereof, the Calculation Agent will provide to the Holder hereof the interest rate hereon then in effect and, if determined, the interest rate which will become effective as of the next Interest Reset
Date. Unless otherwise specified on the face hereof, the Calculation Agent shall be the Issuing and Paying Agent. 

        If
this Note is designated on the face hereof as an Original Issue Discount Note, then, notwithstanding anything to the contrary contained in this Note, upon the redemption or
acceleration of the Maturity Date of this Note there shall be payable, in lieu of the principal amount due on the Maturity Date hereof, as specified on the face hereof, an amount equal to the
Amortized Face Amount of this Note.
The "Amortized Face Amount" shall be the amount equal to (a) the issue price of this Note, plus (b) that portion of the difference between the issue price and the principal amount of
this Note that has been amortized at the Stated Yield (as defined below) of this Note (computed in accordance with generally accepted United States bond yield computation principles) at the date as of
which the Amortized Face Amount is calculated, but in no event shall the Amortized Face Amount exceed the principal amount of this Note due on the Maturity Date hereof. As used in the previous
sentence the "Stated Yield" means the Yield to Maturity specified on the face hereof (or if not so specified, the yield to maturity compounded semi-annually and computed in accordance with
generally accepted United States bond yield computation principles) for the period from the Issue Date to the Maturity Date on the basis of the issue price and such principal amount. 

        If
one or more Redemption Dates (or ranges of Redemption Dates) is specified on the face hereof, this Note is subject to redemption upon not less than 30 nor more than 60 days'
notice by mail, on any such date (or during any such range) as a whole, or from time to time in part, at the election of the Bank, at a Redemption Price determined as provided in the next succeeding
sentence, together with accrued interest to the Redemption Date; but interest installments due on or prior to the Redemption Date will be payable to the Holder hereof (or one or more predecessor
Notes) of record at the close of business on the relevant Regular Record Dates referred to on the face hereof, all as provided in the Issuing and Paying Agency Agreement. If applicable, the
"Redemption Price" for any such redemption shall be the amount determined by multiplying the Redemption Percentage specified on the face hereof with respect to the relevant Redemption Date (or range
of such dates) by the portion of the principal amount hereof (or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed;  provided, however, that in no event shall the Redemption Price be less than 100% of the portion of the
principal amount hereof (or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed. 

        Notice
of redemption having been given as aforesaid, this Note (or the portion of the principal amount hereof so to be redeemed) shall, on the Redemption Date, become due and payable at
the Redemption Price herein specified, and from and after such date (unless the Bank shall default in the payment of the Redemption Price and accrued interest) shall cease to bear interest. 

12

 

        In
the event of any redemption of this Note in part only, a new Note or Notes of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the
cancellation hereof, provided that such unredeemed portion shall be an authorized denomination for the Notes. 

        If
one or more Redemption Dates (Option of Holder) (or ranges of such dates) is specified on the face hereof, this Note is subject to redemption on any such date (or during any such
range) or, if such date is not a Market Day, on the first Market Day following such date, as a whole or from time to time in part, at the election of the Holder hereof at a Redemption Price determined
as provided in the fourth succeeding sentence together with accrued interest thereon to the Redemption Date, but interest installments due on or prior to the Redemption Date will be payable to the
Holder hereof of record at the close of business on the Regular Record Date referred to on the face hereof. Such election shall be
effected by the Holder hereof delivering to the Bank at 400 North Roxbury Drive, 5th Floor, Beverly Hills, California 90210 not less than 30 nor more than 60 days prior to the date on which
this Note is to be redeemed, or during such other Notice Period specified on the face hereof, a notice requesting such redemption in the form as prescribed below and specifying the date upon which
this Note is to be redeemed. Any notice given by a Holder pursuant to this paragraph shall consist of either (i) this Note with the form entitled "Option to Elect Redemption" set forth at the
end of this Note duly completed or (ii) a telegram, facsimile transmission or a letter from a member of a national notes exchange, the National Association of Securities Dealers, Inc. or
a commercial bank or trust company in the United States setting forth the name of the Holder hereof, the principal amount of this Note, the principal amount of this Note to be redeemed, the
certificate number or a description of the terms of this Note, a statement that the option to elect redemption is being exercised thereby and a guarantee that this Note, together with the duly
completed form entitled "Option to Elect Redemption" set forth at the end of this Note, will be received by the Issuing and Paying Agent not later than the fifth Market Day after the date of such
telegram, facsimile transmission or letter; provided, however, that such telegram, facsimile
transmission or letter shall only be effective if this Note and form duly completed are received by the Issuing and Paying Agent by such fifth Market Day. Exercise of the redemption option by the
Holder hereof will be irrevocable. Such Option may be exercised with respect to less than the entire principal amount of this Note, provided that the portion remaining Outstanding after such
redemption shall be an authorized amount for the Notes. If applicable, the "Redemption Price" for any such redemption shall be the amount determined by multiplying the Redemption Percentage (Option of
Holder), specified on the face hereof with respect to the relevant Redemption Date (Option of Holder) (or range of such dates) by the portion of the principal amount hereof (or, if this Note is an
Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed, together with the interest accrued thereon to the Redemption Date;  provided, however, that in no event shall the Redemption Price be less than 100% of the portion of the
principal amount hereof (or, if this Note is an Original Issue Discount Note, the portion of the Amortized Face Amount hereof) to be redeemed. 

        [Subordinated Bank Notes: Notwithstanding the foregoing, this Note may not be redeemed without the prior written consent of
the Office of the Comptroller of the Currency of the United States (the "OCC") unless the Bank shall remain an "eligible bank", as defined in 12 C.F.R. §5.3(g) (or any successor regulation
thereto) after payment of the Notes pursuant to such redemption.] 

        If
so indicated on the face hereof, and in accordance with the terms specified thereon, this Note will be subject to redemption through operation of a sinking fund. 

        [Senior Bank Notes: For purposes of this Note, an "Event of Default" shall mean any one of the following events: 

	(1)
	default
in the payment of any interest upon this Note when it becomes due and payable, and continuance of such default for a period of 30 days; or

	(2)
	default
in the payment of the principal of (or premium, if any, on) this Note when due; or 

13

 

	(3)
	default
in the performance of any covenant or agreement of the Bank contained in this Note which continues for 60 days after receipt of written notice given by the Holder of
this Note; or

	(4)
	the
Bank shall consent to the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation, readjustment of debt,
marshaling of assets and liabilities or similar proceedings of or relating to the Bank or of or relating to all or substantially all of its property; or a decree or order of a court or agency or
supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, receivership, liquidation
readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Bank and such
decree or order shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or the Bank shall file a petition to take advantage of any applicable insolvency or
reorganization statute.] 

[Subordinated Bank Notes: The Holder of this Note, by its acceptance hereof, agrees that the indebtedness of the Bank evidenced by this
Note, including the principal and interest, is unsecured and subordinate and junior in right of payment to the Bank's obligations to its depositors, its obligations under banker's acceptances and
letters of credit, and its obligations to its other creditors (including any obligations to any Federal Reserve Bank and the Federal Deposit Insurance Corporation), whether outstanding at the time
this Note is issued or thereafter incurred (except any obligations which by their express terms rank on a parity with or junior to this Note). In the event of any insolvency proceedings, receivership,
conservatorship, reorganization, readjustment of debt, marshalling of assets and liabilities or similar proceedings or any liquidation or winding up of or relating to the Bank, whether voluntary or
involuntary, all such obligations (except obligations which rank on a parity with or junior to this Note) shall be entitled to be paid in full before any payment shall be made on account of the
principal of or interest on this Note. In the event of any such proceeding, after payment in full of all sums owing with respect to such prior obligations, the holder of this Note, together with the
holders of any obligations of the Bank ranking on a parity with this Note, shall be entitled to be paid pro rata from the remaining assets of the Bank the unpaid principal of, and the unpaid interest
on, this Note or such other obligations before any payment or other distribution, whether in cash, property, or otherwise, shall be made on account of any capital stock or any obligations of the Bank
ranking junior to this Note. 

This
Note contains no limitation on the amount of senior debt, deposits or other obligations that rank senior to this Note that may be hereafter incurred or assumed by the Bank. 

        For
purposes of this Note, an "Event of Default" shall occur if the Bank shall consent to the appointment of a conservator, receiver, liquidator, trustee or other similar official in any
insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Bank or of or relating to all or substantially all of its property; or a decree or
order of a court or
agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver, liquidator, trustee or other similar official in any insolvency, readjustment of
debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Bank and such decree or order
shall have remained in force undischarged or unstayed for a period of 60 consecutive days; or the Bank shall file a petition to take advantage of any applicable insolvency or reorganization
statute.] 

        If
an Event of Default with respect to this Note shall occur and be continuing, the Holder of this Note may (i) declare the principal of this Note (or, if this Note is an Original
Issue Discount Note, the Amortized Face Amount thereof) due and payable, and/or (ii) institute a judicial proceeding for the enforcement of the terms of this Note, including the collection of
all sums due and unpaid hereunder, prosecute such proceeding to judgment for final decree and enforce the same against the Bank and collect moneys adjudged or decreed to be payable in the manner
provided by law out of the property 

14

 

of the Bank and/or (iii) take such other action at law or in equity as may appear necessary or desirable to collect and enforce this Note. Any Event of Default with respect to this Note may be
waived by the Holder. The Bank agrees that it will promptly give notice in writing of the occurrence of any Event of Default to the Issuing and Paying Agent.
[Subordinated Bank Notes: Notwithstanding the foregoing, this Note may not be paid by the Bank pursuant to any declaration referred to in
clause (i) of the first sentence of this paragraph without the prior approval of the Office of the Comptroller of the Currency (the "OCC") unless the Bank shall remain an "eligible bank", as
defined in 12 C.F.R. § 5.3(g) (or any successor regulation thereto), after such payment. If such approval of the OCC shall be required upon the occurrence of any such Event of Default, the
Bank will make application therefor to the OCC promptly after receiving notice of any such declaration from the holder hereof.] 

        The
Bank may not consolidate with or merge into any other person or convey, transfer or lease its properties and assets substantially as an entirety to any person, unless (a) the
surviving entity in such consolidation or merger, or the person that acquires by conveyance, transfer or lease the properties and assets of the Bank substantially as an entirety shall be a bank,
corporation or partnership organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia, and shall expressly assume, by a supplement to
this Note, the due and punctual payment of the principal of, premium, if any, and interest on this Note, and the performance or observance of every provision of this Note on the part of the Bank to be
performed or observed, and (b) immediately after giving effect to such transaction, no Event of Default, and no event which, with giving of notice or the lapse of time or both, would become an
Event of Default, shall have occurred and be continuing. 

        All
notices to the Bank under this Note shall be in writing or addressed to the Bank at 400 North Roxbury Drive, 5th Floor, Beverly Hills, California 90210, Attention: General Counsel,
or to such other address as the Bank may notify the Holder. 

        All
terms used in this Note which are defined in the Issuing and Paying Agency Agreement shall have the meanings assigned to them in the Issuing and Paying Agency Agreement. 

ABBREVIATIONS 

        The
following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or
regulations. 

	TEN COM	 	—	 	as tenants in common
	TEN ENT	 	—	 	as tenants by the entireties
	JT TEN	 	—	 	as joint tenants with right of survivorship and not as tenants in common

	UNIF GIFT MIN ACT —	 	    
	 	Custodian	 	    
	 	 
	 	 	[Custodian]	 	 	 	[Minor]	 	 

	Under Uniform Gifts to Minors Act	 	(                        )
 [State]	 	 

Additional
abbreviations may also be used though not in the above list. 

15

 

FOR
VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

	    
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
	

    
 [PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE]
	

    

	

    

the
within Note and all rights thereunder, hereby irrevocably constituting and appointing                          attorney to
transfer said Note on the books of the Bank, with
full power of substitution in the premises. 

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

16

 
OPTION TO ELECT REDEMPTION 

        The
undersigned hereby irrevocably requests and instructs City National Bank to redeem the within Note (or portion thereof specified below) pursuant to its terms at the Redemption Price,
to the undersigned at 

	

    
 [PLEASE PRINT OR WRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE]
	

    

	

    

        If
less than the entire principal amount of the within Note is to be redeemed, specify the portion thereof which the Holder elects to have redeemed: 

and specify the denomination or denominations (which shall not be less than the minimum authorized denomination) of the Notes to be issued to the Holder for the portion of the within Note not being
redeemed (in the absence of any such specification, one such Note will be issued for the portion not being redeemed):

	Dated:	    
	 	Signature:	    
 NOTICE: The signature to this Option to Elect Redemption must correspond with the name as written upon the face of the within instrument in every particular without
alteration or enlargement.

17

  

 
 

EXHIBIT C TO
  ISSUING AND PAYING
  AGENCY AGREEMENT    
  

 
  Certificate of Authorized Representatives    
  

        The undersigned certifies that pursuant to resolutions adopted by the Board of Directors of City National Bank (the "Issuer"), and with respect to the Notes (the
"Notes") of the Issuer, set forth below is a list of persons who have been duly elected or appointed and have been duly qualified as, and on this day are, "Authorized Representatives" pursuant to
Section 2.2 of the Issuing and Paying Agency Agreement, dated as of January 7, 1998 (the "Issuing and Paying Agency Agreement"), between the Issuer, and Continental Stock
Transfer & Trust Company, as Issuing and Paying Agent (in such capacity, the "Issuing and Paying Agent"), and such Authorized Representatives are the persons authorized to provide the Issuing
and Paying Agent with instructions in accordance with Section 2.2 of the Issuing and Paying Agency Agreement and to execute Notes on behalf of the Issuer by manual or facsimile signature
authorization, and that each signature appearing below is the person's genuine signature. 

	 	Name	 	 	 	 
	 	 	 	
	 	 
	 	Title	 	 	 	 
	 	 	 	
	 	 
	 	Signature	 	 	 	 
	 	 	 	
	 	 

        IN
WITNESS WHEREOF, I have hereunto signed my name. 

	Date:	 	 	,	 	 	.	 	 
	 	 	
	 	 	
	 	 	 
	

 	
 	

 	

 	
 	

 	

 	
 	

 
	

 	
 	

 	

 	
 	

 	

 	
 	

 Secretary

1

  

 
 

EXHIBIT D TO
  ISSUING AND PAYING
  AGENCY AGREEMENT    
  

 
 

ADMINISTRATIVE PROCEDURES    
  

        The bank notes due from 7 days to 30 years from their date of issue (the "Notes"), are to be offered from time to time or on a continuing basis by
City National Bank (the "Issuer"). The Issuer expects to agree from time to time with one or more underwriters (each individually an "Underwriter" and collectively, the "Underwriters") for the
purchase of the Notes or use reasonable efforts to solicit offers to purchase the Notes. Each Underwriter may, but will not be obligated to, purchase Notes as principal for its own account. The Notes
will be issued pursuant to an Issuing and Paying Agency Agreement, dated as of January 7, 1998 (the "IPAA"), between the Issuer and Continental Stock Transfer & Trust Company, as issuing
and paying agent (the "Issuing and Paying Agent"), and are expected to be offered pursuant to an offering circular (the "Offering Circular"). 

        The
Notes may be issued as either "Senior Bank Notes", which will rank equally with all other unsecured and unsubordinated obligations (other than deposits, to the extent provided by
federal law and any applicable state law) of the Issuer, or "Subordinated Bank Notes", which will be subordinated to all present and future claims of depositors and general creditors of the Issuer.
Senior Bank Notes will have maturities of from 7 days to 30 years from the date of issue; Subordinated Bank Notes will have maturities of from 5 years to 30 years from the
date of issue. 

        Each
sale of Bank Notes to any Underwriter as principal shall be in accordance with the terms of the applicable Underwriting, Purchase or Distribution Agreement (the "Underwriting
Agreement"). The Notes will be issued only in book-entry form. The Notes will be represented by Global Notes delivered to The Depository Trust Company ("DTC") or its nominee and recorded
in the book-entry system maintained by DTC or such nominee ("Book-Entry Notes"). Notes for which interest is calculated on the basis of a fixed interest rate are referred to
herein as "Fixed Rate Notes." Notes for which interest is calculated at a rate or rates determined by reference to an interest rate formula are referred to herein as "Floating Rate Notes." 

        Notes
which are issued at a price lower than the principal amount thereof and which provide that upon redemption or acceleration of the Maturity thereof an amount less than the principal
thereof shall become due and payable are referred to herein as "Original Issue Discount Notes." 

        Unless
otherwise indicated in the applicable Offering Circular, the Notes will be denominated in U.S. dollars and payments of principal of and any premium and interest on the Notes will
be made in U.S. dollars in the manner indicated in the Offering Circular. 

        Notes
which provide that amounts payable by the Issuer in respect of principal or any premium or interest on the Notes shall be determined by reference to the value, rate or price of one
or more specific indices are referred to herein as "Indexed Notes." Specific information pertaining to the method for determining the principal amounts payable, a historical comparison of the value,
rate or price of the specified index, indices and the face amount of the Indexed Note and certain additional tax considerations will be described in an applicable Offering Circular. 

        Notes
may be issued and sold pursuant to either a "best efforts" arrangement with the Underwriters or on a firm commitment basis. 

        Administrative
procedures and specific terms of the offering of the Notes are explained below. 

1

 

PART I. GENERAL PROCEDURES  

Issue Date  

        Each Note will be dated the date of its authentication. Each Note will also bear an original issue date (the "Issue Date") which, with respect to any such Note
(or portion thereof), shall mean the date of its original issuance and shall be specified therein. The Issue Date will remain the same for all Notes issued subsequently upon transfer, exchange or
substitution of a Note, regardless of their dates of authentication. 

Price to Public  

        Except as otherwise determined by the Issuer, each Note will be issued at 100% of the principal amount thereof. 

Maturities: Minimum Purchases  

        Each Note will mature on a date, specified in the Note, which will be at least seven days but not more than 30 years after its Issue Date (in the case of a
Note which is a Senior Bank Note), or a date which will be not less than 5 years nor more than 30 years after its Issue Date (in the case of a Note which is a Subordinated Bank Note).
The minimum aggregate principal amount of Notes which may be offered to any purchaser will be $250,000. 

Interest Payments  

        Interest on each interest-bearing Note will be calculated and paid in the manner described in such Note and in the applicable Offering Circular. Unless otherwise
set forth therein, interest on Fixed Rate Notes (including interest for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months and will not
accrue on the 31st day of any month. Interest on Floating Rate Notes, except as otherwise set forth therein, will be calculated on the basis of actual days elapsed and a year of 360 days,
except that in the case of a Floating Rate Note for which the Base Rate is the Treasury Rate, interest will be calculated on the basis of actual number of days in the year. 

        On
the fifth Market Day immediately preceding each Interest Payment Date, the Issuing and Paying Agent will furnish the Issuer with the total amount of interest payments to be made on
such Interest Payment Date. The Issuing and Paying Agent will provide monthly, to the issuer's Treasury Department, a list of the principal and any premium and interest to be paid on Notes maturing in
the next succeeding month. The Issuing and Paying Agent will assume responsibility for withholding taxes on interest paid as required by law. 

Redemption/Repayment  

        If indicated in the applicable Offering Circular, and in the Book-Entry Note representing such Notes, the Notes of a particular tenor will be subject
to repayment in whole or in part (subject to applicable minimum denominations), at the option of the Issuer on and after an initial redemption date as set forth in such Offering Circular or
Book-Entry Note. The redemption price will be set forth in the applicable Offering Circular, if any, and in the applicable Book-Entry Note. 

        If
indicated in the applicable Offering Circular, and in the Book-Entry Note representing such Notes, the Notes of a particular tenor will be subject to a repayment at the
option of the Holders thereof in accordance with the terms of the Notes on a repayment date as set forth in the applicable supplement, if any, and in the applicable Book-Entry Note, the
repayment date or dates and repayment price will be set forth in the applicable Offering Circular, and in the applicable Book-Entry Note. 

2

 

Acceptance of Offers  

        In a "best efforts" arrangement, each Underwriter (the "Presenting Underwriter") will promptly advise the Issuer, at its option orally or in writing, of each
reasonable offer to purchase Notes received by it, other than those rejected by such Underwriter. Each Underwriter may, in its discretion reasonably exercised, without notice to the Issuer, reject any
offer received by it, in whole or in part. The Issuer will have the sole right to accept offers to purchase Notes and may reject any such offer, in whole or in part. If the Issuer accepts or rejects
an offer, in whole or in part, the Issuer will promptly so notify the Presenting Underwriter. 

Confirmation  

        In a "best efforts" arrangement, for each accepted offer, the Presenting Underwriter will issue a confirmation, in writing to the purchaser with a copy to the
Issuer's Treasury Department, setting forth the Purchase Information (as defined below) and delivery and payment instructions; provided, however, that,
in the case of the confirmation issued to the purchaser, no confirmation shall be delivered to the purchaser prior to the delivery of the Offering Circular referred to below. 

Determination of Settlement Date  

        The receipt of immediately available funds by the issuer in payment for a Note and entry by the Presenting Underwriter of an SDFS (as defined below) deliver order
through DTC's Participation Terminal System to credit such Note to the account of a participant purchasing, or acting for the purchaser of, such Note, shall, with respect to such Note, constitute
"settlement." All offers accepted by the Issuer will be settled on the third Market Day next succeeding the date of acceptance unless otherwise agreed by the purchaser and the Issuer. The settlement
date shall be specified upon receipt of an offer to purchase. 

Delivery of Offering Circular  

        A copy of the Offering Circular as most recently amended or supplemented on the date of delivery thereof, including any pricing supplement (except as provided
below), will be delivered to a purchaser prior to or together with the earlier of the delivery of (i) the written confirmation provided for above, and (ii) any Note purchased by such
purchaser. (For this purpose, entry of the SDFS deliver order through DTC's Participation Terminal System to credit a Note to the account of a participant purchasing, or acting for the purchaser of, a
Note shall be deemed to constitute delivery of such Note.) The Issuer shall ensure that the Presenting Underwriter receives copies of the Offering Circular and each amendment or supplement thereto,
including any pricing supplement, in such quantities and within such time limits as will enable the Presenting Underwriter to deliver such confirmation or Note to a purchaser as contemplated by these
procedures and in compliance with the first sentence of this paragraph. If, since the date of acceptance of a purchaser's offer, the Offering Circular shall have been supplemented solely to reflect
any sale of notes on terms different from those agreed to between the Issuer and such purchaser or a change in posted rates not applicable to such purchaser, such purchaser shall not receive such new
supplement, if any, but shall receive the Offering Circular supplemented to reflect the terms of the Notes being purchased by such purchaser (including any applicable pricing supplement) and otherwise
as most recently amended or supplemented on the date of delivery of the Offering Circular. 

Authenticity of Signatures  

        The Issuer will cause the Issuing and Paying Agent to furnish the Underwriters from time to time with the specimen signatures of each of the Issuing and Paying
Agent's officers, employees or agents who have been authorized by the Issuing and Paying Agent to authenticate Notes, but the Underwriters 

3

 

will have no obligation or liability to the Issuer or the Issuing and Paying Agent in respect of the authenticity of the signature of any officer, employee or agent of the Issuer or the Issuing and
Paying Agent on any Global Note (as defined below) representing a Book-Entry Note. 

Advertising Expenses  

        The Issuer will determine with the Underwriters the amount of advertising that may be appropriate in offering the Notes. Advertising expenses will be paid by the
Issuer. 

Market Day  

        "Market Day" means (a) with respect to any Note, any day that is not a Saturday or Sunday and that, in the City of New York, New York and the State of
California, is not a day on which banking institutions generally are authorized or obligated by law or executive order to close, and (b) with respect to LIBOR Notes only, any such day on which
dealings in deposits in U.S. dollars are transacted in the London interbank market. All times in these procedures reflect New York City time. 

Issuing and Paving Agent Not to Risk Funds  

        Nothing herein shall be deemed to require the Issuing and Paying Agent to risk or expend its own funds in connection with any payment made to the Issuing and
Paying Agent, the Underwriters, DTC or any Holder of a Note, it being understood by all parties that payments made by the Issuing and Paying Agent to the Issuer, the Underwriters, DTC or any Holder of
a Note shall be made only to the extent that funds are provided to the Issuing and Paying Agent for such purpose. 

Part II. ADMINISTRATIVE PROCEDURES FOR BOOK-ENTRY NOTES  

        In accordance with the qualification of the Book-Entry Notes for eligibility in the book-entry system maintained by DTC, the Issuing and
Paying Agent will perform the custodial, document control and administrative functions described below, in accordance with its obligations under a customary Letter of Representations from the Issuer
and the Issuing and Paying Agent to DTC, and its obligations as a participant in DTC, including DTC's Same-Day Funds Settlement System ("SDFS"). 

Form, Denominations and Registration  

        All Book-Entry Notes of the same tenor and ranking and having the same Issue Date, will be represented initially by a single note (a "Global Note") in
fully registered form without coupons. Book-Entry Notes will represent Notes denominated in U.S dollars. Global Notes will be issued in denomination of $250,000 and integral multiples
$1,000 in excess thereof. Global Notes will be denominated in principal amounts not in excess of $200,000,000. If one or more Book-Entry Notes having an aggregate principal amount in
excess of $200,000,000 would, but not for the preceding sentence, be represented by a single Global Note, then one Global Note will be issued to represent each $200,000,000 principal amount of such
Book-Entry Note or Notes and an additional Global Note will be issued to represent any remaining principal amount of such Book-Entry Note or Notes. In such a case, each of the
Global Notes representing such Book-Entry Note or Notes shall be assigned the same CUSIP number. Each Global Note will be registered in the name of Cede & Co., as nominee for DTC,
on the Security Register maintained under the IPAA. The beneficial owner of a Book-Entry Note or One or more indirect participants in DTC designated by such owner) will designate one or
more participants in DTC (with respect to such Note, the "Participants") to act as agent or agents for such
owner in connection with the book-entry system maintained by DTC, and DTC will record in book-entry form, in accordance with instructions provided by such Participants, a
credit balance with respect to such Note in the account of such Participants. The ownership interest of such beneficial 

4

 

owner in such Note will be recorded through the records of such participants or through the separate records of such Participants and one or more indirect participants in DTC. 

CUSIP Numbers  

        The Issuer has arranged with the CUSIP Service Bureau of Standard & Poor's Corporation (the "CUSIP Service Bureau") for the reservation of a series
of CUSIP numbers (including tranche numbers), such series relating to Global Notes representing Book-Entry Notes. The Issuer has obtained from the CUSIP Service Bureau a written list of
such reserved CUSIP numbers and has delivered it to the Issuing and Paying Agent and DTC. The Issuing and Paying Agent will assign CUSIP numbers serially to Global Notes as described below under
"Details for Settlement." DTC will notify the CUSIP Service Bureau periodically of the CUSIP numbers that the Issuing and Paying Agent has assigned to Global Notes. The Issuing and Paying Agent will
notify the Issuer at the time when fewer than 100 of the reserved CUSIP numbers remain unassigned to the Global Notes; and the Issuer will reserve additional CUSIP numbers for assignment to Global
Notes representing Book-Entry Notes. Upon obtaining such additional CUSIP numbers, the Issuer shall deliver a list of such additional CUSIP numbers to the Issuing and Paying Agent and DTC. 

Transfers and Exchanges for the Purpose of Consolidation  

        Transfers of a Book-Entry Note will be accomplished by book entries made by DTC and, in turn, by participants in DTC (the "Participants") (and, in
certain cases, one or more indirect participants in DTC) acting on behalf of beneficial transferors and transferees of such Note. 

        The
Issuing and Paying Agent may upon notice to the Issuer deliver to DTC and the CUSIP Service Bureau at any time a written notice (a copy of which shall be attached to the Global Note
resulting from such exchange) specifying (i) the CUSIP numbers of two or more outstanding Global Notes that represent Book-Entry Notes of the same tenor and having the same Issue
Date, and for which interest (if any) has been paid to the same date, (ii) a date occurring at least thirty days after such written notice is delivered and at least thirty days before the next
Interest Payment Date (if any, for such Notes, on which such Global Notes shall be exchanged for a single replacement Global Note and (iii) a new CUSIP number to be assigned to such replacement
Global Note. Upon receipt of such a notice, DTC will send to its Participants (including the Issuing and Paying Agent) a written reorganization notice to the effect that such exchange will occur on
such date. Prior to the specified exchange date, the Issuing and Paying Agent will deliver to the CUSIP Bureau a written notice setting forth such exchange date and the new CUSIP number and stating
that, as of such exchange date, the CUSIP numbers of the Global Notes to be exchanged will no longer be valid. On the specified exchange date, the Issuing and Paying Agent will exchange such Global
Notes for a single Global Note bearing the
new CUSIP number and the CUSIP numbers of the exchange Global Notes will, in accordance with CUSIP Service Bureau procedures, be canceled and not immediately reassigned. 

Notice of Interest Payment Dates and Regular Record Dates  

        To the extent then known, on the first Market Date of March, June, September, and December of each year, the Issuing and Paying Agent will deliver to the Issuer
and DTC a written list of Record Dates and Interest Payment Dates that will occur with respect to Floating Rate Book-Entry Notes during the six-month period beginning on such
first Market Day. 

Payments of Principal and Interest  

        (a)    Payments of Interest Only.    Promptly after each Regular Record Date, the Issuing and Paying Agent will
deliver to the Issuer and DTC a written notice specifying by CUSIP number the amount of interest to be paid on each Global Note on the following Interest Payment Date (other than an Interest 

5

 

Payment Date coinciding with Maturity) and the total of such amounts. The Issuer will confirm with the Issuing and Paying Agent the amount payable on each Global Note on such Interest Payment Date.
DTC will confirm the amount payable on each Global Note on such Interest Payment Date by reference to the daily or weekly bond reports published by Standard & Poor's Corporation. The Issuer
will pay to the Issuing and Paying Agent the total amount of interest due on such Interest Payment Date (other than at Maturity), and the Issuing and Paying Agent will pay such amount to DTC at the
times and in the manner set forth below under "Manner of Payment". 

        (b)    Payments at Stated Maturity.    On or about the first Market Day of each month, the Issuing and Paying Agent
will deliver to the Issuer and DTC a written list of principal and interest to be paid on each Global Note maturing in the following month. The Issuer, the Issuing and Paying Agent and DTC will
confirm the amounts of such principal and interest payments with respect to each such Global Note on or about the fifth Market Day preceding the Stated Maturity of such Global Note. The Issuer will
pay to the Issuing and Paying Agent, as the paying agent, the principal amount of such Global Note, together with interest due at such Stated Maturity. Upon surrender of a Global Note, the Issuing and
Paying Agent will pay such amounts to DTC at the times and in the manner set forth below under "Manner of Payment." If any Stated Maturity of a Global Note representing Book-Entry Notes is
not a Market Day, the payment due on such day shall be made on the next succeeding Market Day and no interest shall accrue on such payment for the period from and after such Stated Maturity. Promptly
after payment to DTC of the principal and any interest due at the Stated Maturity of such Global Note, the Issuing and Paying Agent will cancel such Global Note and return such Global Note to the
Issuer in accordance with the terms of the IPAA. 

        (c)    Payment upon Redemption.    The Issuing and Paying Agent will comply with the terms of the
Book-Entry Notes with regard to redemptions or repayments of the Book-Entry Notes. In the case of Book-Entry Notes stated by their terms to be redeemable prior to
Stated Maturity, at least 60 calendar days before the date fixed for redemption (the "Redemption Date"), the Issuer shall notify the Issuing and Paying Agent of the Issuer's election to redeem such
Book-Entry Notes in whole or in part and the principal amount of such Book-Entry Notes to be so redeemed. At least 30 calendar days but not more than 60 calendar days prior to
the Redemption Date, the Issuing and Paying Agent shall notify DTC of the Issuer's election to redeem such Book-Entry Notes. The Issuing and Paying Agent shall notify the Issuer and DTC of
the CUSIP numbers of the particular Book-Entry Notes to be redeemed either in whole or in part. The Issuer, the Issuing and Paying Agent and DTC will confirm the amounts of such principal
and any premium and interest payable with respect to each such Book-Entry Note on or about the third Market Day preceding the Redemption Date of such Book-Entry Note. The
Issuer will pay the Issuing and Paying Agent, in accordance with the terms of the IPAA, the amount necessary to redeem each such Book-Entry Note or the applicable portion of each such
Book-Entry Note. The Issuing and Paying Agent will pay such amount to DTC at the times and in the manner set forth herein. Promptly after payment to DTC of the amount due on the Redemption
Date for such Book-Entry Note redeemed in whole and shall deliver it to the Issuer with an appropriate debit advice. If a Global Note is to be redeemed in part, the Issuing and Paying
Agent will cancel such Global Note and issue a Global Note which shall represent the remaining portion of such Global Note and shall bear the CUSIP number of the canceled Global Note. 

        (d)    Manner of Payment.    The total amount of any principal and interest due on Global Notes on any Interest
Payment Date or at Maturity shall be paid by the Issuer to the Issuing and Paying Agent in immediately available funds on such date available for use as of 9:30 a.m. New York City time. The
Issuer will make such payment on such Global Notes by wire transfer to the Issuing and Paying Agent. The Issuer will confirm instructions regarding payment in writing to the Issuing and Paying Agent.
Prior to 10:00 a.m., New York City time, on each date of Maturity of a Book-Entry Note or as soon as possible thereafter, the Issuing and Paying Agent will pay by separate wire
transfer (using Fedwire message entry instructions in a form previously specified by DTC) to an account at the Federal Reserve 

6

 

Bank of New York previously specified by DTC in funds available for immediate use by DTC, each payment of principal (together with interest thereon) due at Maturity on Book- Entry Notes.
On each Interest Payment Date, interest payment shall be made to DTC in same day funds in accordance with existing arrangements between the Issuing and Paying Agent and DTC. Thereafter, on each such
date, DTC will pay, in accordance with its SDFS operating procedures then in effect, such amounts in funds available for immediate use to the respective Participants in whose names the
Book-Entry Notes represented by such Global Notes are recorded in the book-entry system maintained by DTC. NEITHER THE ISSUER NOR THE ISSUING AND PAYING AGENT SHALL HAVE ANY
DIRECT RESPONSIBILITY OR LIABILITY FOR THE PAYMENT BY DTC TO SUCH PARTICIPANTS OF THE PRINCIPAL OF AND ANY PREMIUM AND INTEREST ON THE BOOK-ENTRY NOTES. 

        (e)    Withholding Taxes.    The amount of any taxes required under applicable law to be withheld from any interest
payment on a Book-Entry Note will be determined and withheld by the Participant, indirect participant in DTC or other person responsible for forwarding payments and materials directly to
the beneficial owner of such Note. 

Details for Settlement  

        For each offer for Book-Entry Notes accepted by the Issuer, the applicable agreement between the Issuer and the Underwriters shall provide that the
Presenting Underwriter shall communicate to the Issuer's Treasury Department prior to 11:00 a.m., on the first Market Day after the sale date (or on the sale date if such sale is to be settled
within one Market Day), by telephone, telex, facsimile transmission or other acceptable means, the following information (the "Purchase Information"): 

          1.  Exact
name in which the Notes are to be registered ("registered owner"). 

          2.  Exact
address of registered owner and, if different, the address for delivery, notices and payment of principal and any premium and interest. 

          3.  Taxpayer
identification number of registered owner. 

          4.  Principal
amount of the Notes. 

          5.  Stated
Maturity of the Notes. 

          6.  In
the case of Fixed Rate Notes, the interest rate of the Notes; in the case of Floating Rate Notes, the interest rate formula, the Spread or Spread Multiplier (if any),
the maximum or minimum interest rate limitation (if any), the Calculation Agent, the Calculation Dates, the Initial Interest Rate, the Interest Payment Dates, the Regular Record Dates, the Index
Maturity, the Interest Determination Dates and the Interest Reset Dates, in each case, to the extent applicable with respect to the Notes. 

          7.  Redemption
and/or repayment provisions, if any, of the Notes. 

          8.  Trade
date of the Notes. 

          9.  Settlement
date (Issue Date) of the Notes. 

        10.  Presenting
Underwriter's commission (to be paid in the form of a discount from the proceeds remitted to the Issuer upon settlement). 

        11.  Price. 

        12.  Original
issue discount, if any. 

        13.  Whether
the Note is a Senior Bank Note or a Subordinated Bank Note. 

        14.  Any
additional applicable terms of the Notes. 

7

 

        The
Issue Date of, and the settlement date for, a Book-Entry Note will be the same. Before accepting any offer to purchase Book-Entry Notes to be settled in less
than three Market Days, the Issuer shall verify that the Issuing and Paying Agent will have adequate time to prepare and authenticate the Global Notes. 

        If
the initial interest rate for a Floating Rate Note has not been determined at the time that the foregoing procedure is completed, the procedures described in the following two
paragraphs shall be completed as soon as such rate has been determined but no later than 12:00 Noon and 2:00 p.m., as the case may be, on the Market Day before the settlement date. 

        Immediately
after receiving the details for each offer for Book-Entry Notes from the Presenting Underwriter and in any event no later than 12:00 Noon on the first Market Day
after the sale date (or the sale date if such sale is to be settled within one Market Day), the Issuer will, after recording the details and any necessary calculations, communicate the Purchase
Information by telephone, telex, facsimile transmission or other acceptable means, to the Issuing and Paying Agent. Each such instruction given by the Issuer to the Issuing and Paying Agent shall
constitute a continuing representation and warranty by the Issuer to the Issuing and Paying Agent and the Underwriters that (i) the issuance and delivery of such Note have been duly and validly
authorized by the Issuer and (ii) such Note, when duly issued, shall constitute the valid and legally binding obligation of the Issuer. 

        Immediately
after receiving the Purchase Information from the Issuer and in any event no later than 2:00 P.M. on the first Market Day after the sale date (or on the sale date if
such sale is to be settled
within one Market Day), the Issuing and Paying Agent will assign a CUSIP number to the Global Note representing such Book-Entry Note and will telephone the Issuer and advise the Issuer of
such CUSIP number and, as soon thereafter as practicable, the Issuer shall notify the Presenting Underwriter of such CUSIP number. 

        The
Issuing and Paying Agent will enter a pending deposit message through DTC's Participant Terminal System, providing settlement to DTC (which shall route such information to
Standard & Poor's Corporation). Standard & Poor's Corporation will use the information received in the pending deposit message to include the amount of any interest payable and certain
other information regarding the related Global Note in the appropriate daily or weekly bond report published by Standard & Poor's Corporation. 

Settlement: Global Note Delivery and Cash Payment  

        Upon the receipt of appropriate documentation and instructions from the Issuer in accordance with applicable Officers' Certificate and verification thereof, the
Issuing and Paying Agent will cause the Global Note to be completed and authenticated and hold the Global Note for delivery against payment. 

        Prior
to 10:00 a.m., on the Settlement Date, the Issuing and Paying Agent will enter instructions through DTC's Participant Terminal System, using the function NT II, and DTC will
credit such Note to the Issuing and Paying Agent's participant account at DTC. Prior to 2:00 p.m., on the Settlement Date, the Issuing and Paying Agent will enter an SDFS deliver order through
DTC's Participant Terminal System instructing DTC to (i) debit such Note to the Issuing and Paying Agent's participant account and credit such Note to the Presenting Underwriter's participant
account and (ii) debit the Presenting Underwriter's settlement account and credit the Issuing and Paying Agent's settlement account for an amount equal to the price of such Notes less such
Underwriter's commission (in accordance with SDFS operating procedures in effect on the Settlement Date). The entry of such a deliver order shall constitute a representation and warranty by the
Issuing and Paying Agent to DTC that (i) the Global Note representing such Book-Entry Note has been executed, delivered and authenticated and (ii) the Issuing and Paying
Agent is holding such Global Note pursuant to the relevant Medium-Term Note Certificate Agreement between the Issuing and Paying Agent and DTC. 

8

 

        Prior
to 2:00 p.m., on the Settlement Date, the Presenting Underwriter will enter an SDFS deliver order through DTC's Participant Terminal System instructing DTC (i) to
debit such Note to such Presenting Underwriter's participant account and credit such Note to the Participant accounts of the Participants with respect to such Note and (ii) to debit the
settlement accounts of such Participants and credit the settlement account of such Underwriter for an amount equal to the price of such Note (in accordance with SDFS operating procedures in effect on
the settlement date). 

        Transfers
of funds are subject to extension in accordance with any extension of Fedwire closing deadlines and in the other events specified in the SDFS operating procedures in effect on
the settlement date. 

        The
Issuing and Paying Agent, upon confirming receipt of such funds, will wire transfer the amount transferred to the Issuing and Paying Agent, in funds available for immediate use, for
the account of City National Bank, to such account as City National Bank shall from time to time designate in writing to the Issuing and Paying Agent. 

Fails  

        If settlement of a Book-Entry Note is rescheduled or canceled, the Issuer shall notify the Issuing and Paying Agent, and upon receipt of such notice,
the Issuing and Paying Agent will deliver to DTC, through DTC's Participant Terminal System, a cancellation message to such effect no later than 2:00 p.m., New York City time, on the Market Day
immediately preceding the scheduled settlement date. 

        If
the Agent or Issuing and Paying Agent has not entered an SDFS deliver order with respect to a Book-Entry Note, then upon written request (which may be evidenced by
telecopy transmission) of the Issuer, the Issuing and Paying Agent shall deliver to DTC, through DTC's Participant Terminal System, as soon as practicable, but no later than 2:00 p.m. on any
Market Day, a withdrawal message instructing DTC to debit such Note to the Issuing and Paying Agent's participant account contains a principal amount of the Global Note representing such Note that is
at least equal to all the Book-Entry Notes represented by a Global Note, the Issuing and Paying Agent will mark such Global Note "canceled", make appropriate entries in the Issuing and
Paying Agent's records and send such canceled Global Note to the Issuer. The CUSIP number assigned to such Global Note shall, in accordance with CUSIP Service Bureau procedures, be canceled and not
immediately reassigned. If withdrawal messages are processed with respect to one or more, but not all, of the Book-Entry Notes represented by a Global Note, the Issuing and Paying Agent
will exchange such Global Note for two Global Notes, one of which shall represent such Book-Entry Note or Notes and shall be canceled immediately after issuance and the other of which
shall represent the remaining Book-Entry Notes previously represented by the surrendered Global Note and shall bear the CUSIP number of the surrendered Global Note. 

        If
the purchase price for any Book-Entry Note is not timely paid to the Participants with respect to such Note by the beneficial purchaser thereof (or a person, including an
indirect participant in DTC, acting on behalf of such purchaser), such Participants and, in turn, the Presenting Underwriter may enter a deliver order through DTC's Participant Terminal System
debiting such Note to the Presenting Underwriter's participant account and crediting such Note to the participant account of the Issuing and Paying Agent and shall notify the Issuing and Paying Agent
and the Issuer thereof. Thereafter, the Issuing and Paying Agent, (i) will immediately notify the Issuer, once the Issuing and Paying Agent has confirmed that such Note has been credited to its
participant account, and the Issuer shall immediately transfer by Fedwire (in immediately available funds) to the Presenting Underwriter an amount equal to
the price of such Note which was previously sent by wire transfer to the account of the Issuer maintained at City National Bank, and (ii) the Issuing and Paying Agent will deliver the
withdrawal message and take the related actions described in the preceding paragraph. Such debits and credits will be made on the settlement date, if possible, and in any event not later than
5:00 p.m. on the following 

9

 

Market Day. If the fail shall have occurred for any reason other than failure of the Presenting Underwriter to provide the Purchase Information to the Issuer or to provide a confirmation to the
purchaser, the Issuer will reimburse the Presenting Underwriter on an equitable basis for its loss of the use of funds during the period when the funds were credited to the account of the Issuer. 

        Notwithstanding
the foregoing, upon any failure to settle with respect to a Book-Entry Note, DTC may take any actions in accordance with its SDFS operating procedures then in
effect. In the event of a failure to settle with respect to one or more, but not all, of the Book-Entry Notes to have been represented by a Global Note, the Issuing and Paying Agent will
provide for the authentication and issuance of a Global Note representing the other Book-Entry Notes to have been represented by such Global Note and will make appropriate entries in its
records. 

10

  

	REGISTERED	 	 	 	REGISTERED
	

 	
 	
CITY NATIONAL BANK	
 	

 
	

No. R-1	
 	

6-3/8% SUBORDINATED

NOTE DUE 2008	
 	

CUSIP 177902 AA 1

        This
Note is a Global Note within the meaning of the Issuing and Paying Agency Agreement hereinafter referred to and is registered in the name of the Depositary or a nominee thereof.
This Note may not be exchanged in whole or in part for a Note registered, and no transfer of this Note in whole or in part may be registered, in the name of any person other than such Depositary or a
nominee thereof, except in the limited circumstances described in the Issuing and Paying Agency Agreement. 

        Unless
this Note is presented by an authorized representative of The Depositary Trust Company (55 Water Street, New York, New York) to the issuer or its agent for registration of
transfer, exchange or payment, and any security issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depositary Trust Company
and any payment hereon is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede &
Co., has an interest herein. 

        This
Note must be issued and held in minimum denominations of $250,000 and is not exchangeable for Notes in smaller denominations. 

        THE
OBLIGATION EVIDENCED BY THIS NOTE IS UNSECURED AND IS SUBORDINATED AND JUNIOR IN RIGHT OF PAYMENT TO THE BANK'S OBLIGATIONS TO ITS DEPOSITORS AND TO THE BANK'S OTHER OBLIGATIONS TO
ITS GENERAL AND SECURED CREDITORS AND IS INELIGIBLE AS COLLATERAL TO SECURE A LOAN FROM THE BANK. THIS NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT OF ANY BANK AND
IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. 

PRINCIPAL
AMOUNT:    $125,000,000 

ISSUE
DATE:    January 12, 1998 

MATURITY
DATE:    January 15, 2008 

INTEREST
RATE:    6-3/8% per annum 

COMPUTATION
PERIOD:    from January 12, 1998 

INTEREST
PAYMENT DATE(S):    each January 15 and July 15, commencing July 15, 1998 

REGULAR
RECORD DATE(S):    each January 1 and July 1 

        CITY
NATIONAL BANK, a national banking association duly organized and existing under the laws of the United States of America (herein called the "Bank", which term includes any successor
thereof), for value received, hereby promises to pay to CEDE & CO., as nominee for The Depository Trust Company, or registered assigns, the principal amount specified above on the maturity date
specified above (the "Maturity Date") and to pay interest thereon (computed on the basis of a 360-day year of twelve 30-day months) from and including the Issue Date specified above (the "Issue Date")
or from and including the most recent Interest Payment Date to which interest on this Note (or any predecessor Note) has been paid or duly provided for to but excluding the next succeeding Interest
Payment Date, on the Interest Payment Dates specified above in each year (each an "Interest Payment Date") and on the Maturity Date, semiannually in arrears at the rate per annum equal to the Interest
Rate specified above (the "Interest Rate"), until the principal hereof is paid or duly made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest
Payment 

1

 

Date will be paid to the person in whose name this Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date specified above (the "Regular Record
Date") next preceding such Interest Payment Date; PROVIDED, HOWEVER, that interest payable on the Maturity Date will be payable to the person to whom principal shall be payable; and PROVIDED, FURTHER,
that the first payment of interest shall be payable on the second Interest Payment Date following the Issue Date to the person in whose name this Note (or one or more predecessor Notes) is
registered at the close of business on the Regular Record Date immediately preceding such Interest Payment Date. 

        If
any Interest Payment Date specified on the face hereof or the Maturity Date would otherwise be a day which is not a Market Day, with respect to this Note, the payment of principal or
interest may be made on the next succeeding Market Day with the same force and effect as if made on the due date therefor, and no interest shall accrue from such Interest Payment Date or Maturity
Date, as the case may be, to such next succeeding Market Day. 

        No
interest shall accrue on any amount of principal of or interest on this Note after the due date therefor, PROVIDED that, to the extent permitted by applicable law, interest shall
accrue on any amount of principal or interest not paid or duly provided for on the date due, from and including the date due, to but excluding the date paid, at the Interest Rate. 

        No
interest shall accrue on this Note after the Maturity Date. 

        Payment
of the principal of and interest on this Note will be made on each Interest Payment Date by the Issuing and Paying Agent (as defined on the reverse hereof), in U.S. dollars in
immediately available funds to the Depositary or its nominee; PROVIDED, HOWEVER, that payment of the principal of and interest on this Note due on the Maturity Date will be made in U.S. dollars in
immediately available funds at the office of the Issuing and Paying Agent at 2 Broadway, New York, New York 10004, if this Note is presented to the Issuing and Paying Agent in time for the Issuing and
Paying Agent to make such payments in such funds in accordance with its normal procedures. 

        Reference
is hereby made to the further provisions of this 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. 

        This
Note and the obligations of the Bank evidenced hereby shall be governed by and construed in accordance with the laws of the State of New York and, where applicable, the laws of the
United States of America. 

        Unless
the certificate of authentication hereon has been executed by the Issuing and Paying Agent referred to on the reverse hereof by manual signature, this Note shall not be entitled
to any benefit under the Issuing and Paying Agency Agreement or be valid or obligatory for any purpose. 

2

 

        IN
WITNESS WHEREOF, the Bank has caused this instrument to be duly executed and countersigned as of the date set forth below. 

Dated:
January 12, 1998 

	 	 	CITY NATIONAL BANK
	

 	
 	

By	

/s/  FRANK P. PEKNY      
 Authorized Signature

Attest:

	RICHARD SHEEHAN, JR.
	 
	
CERTIFICATE OF AUTHENTICATION	

 
	

This is one of the Notes referred to in the within-mentioned Issuing and Paying Agency Agreement	

 
	
CONTINENTAL STOCK TRANSFER & TRUST COMPANY,
 as Issuing and Paying Agent	

 
	

By	
 	

[Illegible]
 Authorized Signature	

 

3

QuickLinks

Exhibit 4(b)

TABLE OF CONTENTS

ARTICLE I APPOINTMENT

ARTICLE II THE NOTES

ARTICLE III THE ISSUING AND PAYING AGENT

ARTICLE IV CALCULATION OF INTEREST

ARTICLE V LIABILITY AND INDEMNIFICATION

ARTICLE VI RESIGNATION OR REMOVAL OF ISSUING AND PAYING AGENT

ARTICLE VII MISCELLANEOUS

EXHIBIT A-l TO ISSUING AND PAYING AGENCY AGREEMENT (Short-Term Fixed)

ABBREVIATIONS

EXHIBIT A-2 TO ISSUING AND PAYING AGENCY AGREEMENT (Medium-Term Floating)

EXHIBIT B-l TO ISSUING AND PAYING AGENCY AGREEMENT (Short-Term Floating)

EXHIBIT B-2 TO ISSUING AND PAYING AGENCY AGREEMENT (Medium-Term Floating)

EXHIBIT C TO ISSUING AND PAYING AGENCY AGREEMENT

Certificate of Authorized Representatives

EXHIBIT D TO ISSUING AND PAYING AGENCY AGREEMENT

ADMINISTRATIVE PROCEDURESQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4(d)    
  

CITY NATIONAL CORPORATION  

 INDENTURE  

 Dated as of February 13, 2003  

 U.S. BANK NATIONAL ASSOCIATION,  

 Trustee  

  

 
 

TABLE OF CONTENTS    
  

	 
	 	 
	 	Page

	
ARTICLE ONE

Definitions and Other Provisions of General Application
	

SECTION 1.01.	
 	

Definitions	
 	

1
	SECTION 1.02.	 	Compliance Certificates and Opinions	 	6
	SECTION 1.03.	 	Form of Documents Delivered to Trustee	 	7
	SECTION 1.04.	 	Acts of Holders	 	7
	SECTION 1.05.	 	Notices, etc., to Trustee and Company	 	9
	SECTION 1.06.	 	Notices to Holders; Waiver	 	9
	SECTION 1.07.	 	Language of Notices, etc	 	10
	SECTION 1.08.	 	Conflict with Trust Indenture Act	 	10
	SECTION 1.09.	 	Effect of Headings and Table of Contents	 	10
	SECTION 1.10.	 	Successors and Assigns	 	10
	SECTION 1.11.	 	Separability Clause	 	10
	SECTION 1.12.	 	Benefits of Indenture	 	10
	SECTION 1.13.	 	Legal Holidays	 	10
	SECTION 1.14.	 	Governing Law	 	11
	
ARTICLE TWO

Security Forms
	

SECTION 2.01.	
 	

Forms Generally	
 	

11
	SECTION 2.02.	 	Form of Securities	 	11
	SECTION 2.03.	 	Form of Trustee's Certificate of Authentication	 	12
	SECTION 2.04.	 	Global Securities	 	12
	
ARTICLE THREE

The Securities
	SECTION 3.01.	 	Title and Terms	 	12
	SECTION 3.02.	 	Denominations	 	15
	SECTION 3.03.	 	Execution, Authentication, Delivery and Dating	 	15
	SECTION 3.04.	 	Temporary Securities	 	17
	SECTION 3.05.	 	Registration, Registration of Transfer and Exchange	 	19
	SECTION 3.06.	 	Mutilated, Destroyed, Lost and Stolen Securities	 	22
	SECTION 3.07.	 	Payment of Interest; Interest Rights Preserved	 	22
	SECTION 3.08.	 	Persons Deemed Owners	 	24
	SECTION 3.09.	 	Cancellation	 	24
	SECTION 3.10.	 	Computation of Interest	 	24
	SECTION 3.11.	 	Form of Certification	 	24
	SECTION 3.12.	 	Judgments	 	25
	SECTION 3.13.	 	CUSIP Numbers	 	25
	
ARTICLE FOUR

Redemption of Securities
	

SECTION 4.01.	
 	

Applicability of Article	
 	

25
	SECTION 4.02.	 	Election To Redeem; Notice to Trustee	 	26
	SECTION 4.03.	 	Selection by Security Registrar of Securities To Be Redeemed	 	26
	SECTION 4.04.	 	Notice of Redemption	 	26
	SECTION 4.05.	 	Deposit of Redemption Price	 	27
	SECTION 4.06.	 	Securities Payable on Redemption Date	 	27

i

 

	SECTION 4.07.	 	Securities Redeemed in Part	 	28
	
ARTICLE FIVE

Covenants
	

SECTION 5.01.	
 	

Payment of Principal, Premium and Interest	
 	

28
	SECTION 5.02.	 	Maintenance of Office or Agency	 	28
	SECTION 5.03.	 	Money for Security Payments To Be Held in Trust	 	29
	SECTION 5.04.	 	Additional Amounts	 	30
	SECTION 5.05.	 	Statement as to Compliance	 	31
	SECTION 5.06.	 	Maintenance of Corporate Existence, Rights and Franchises	 	31
	SECTION 5.07.	 	Limitation on Disposition of Stock of Banks	 	32
	SECTION 5.08.	 	Waiver of Covenants	 	32
	
ARTICLE SIX

Holders' Lists and Reports by Trustee and Company
	

SECTION 6.01.	
 	

Company To Furnish Trustee Names and Addresses of Holders	
 	

32
	SECTION 6.02.	 	Preservation of Information; Communications to Holders	 	33
	SECTION 6.03.	 	Reports by Trustee	 	34
	SECTION 6.04.	 	Reports by Company	 	34
	
ARTICLE SEVEN

Remedies
	

SECTION 7.01.	
 	

Events of Default	
 	

34
	SECTION 7.02.	 	Acceleration of Maturity; Rescission and Annulment	 	35
	SECTION 7.03.	 	Collection of Indebtedness and Suits for Enforcement by Trustee	 	36
	SECTION 7.04.	 	Trustee May File Proofs of Claim	 	37
	SECTION 7.05.	 	Trustee May Enforce Claims Without Possession of Securities	 	37
	SECTION 7.06.	 	Application of Money Collected	 	37
	SECTION 7.07.	 	Limitation on Suits	 	38
	SECTION 7.08.	 	Unconditional Right of Holders To Receive Principal, Premium and Interest	 	38
	SECTION 7.09.	 	Restoration of Rights and Remedies	 	39
	SECTION 7.10.	 	Rights and Remedies Cumulative	 	39
	SECTION 7.11.	 	Delay or Omission Not Waiver	 	39
	SECTION 7.12	 	Control by Holders	 	39
	SECTION 7.13	 	Waiver of Past Defaults	 	39
	SECTION 7.14.	 	Undertaking for Costs	 	40
	SECTION 7.15.	 	Waiver of Stay or Extension Laws	 	40
	
ARTICLE EIGHT

The Trustee
	

SECTION 8.01.	
 	

Certain Duties and Responsibilities	
 	

40
	SECTION 8.02.	 	Notice of Default	 	41
	SECTION 8.03.	 	Certain Rights of Trustee	 	41
	SECTION 8.04.	 	Not Responsible for Recitals or Issuance of Securities	 	42
	SECTION 8.05.	 	May Hold Securities	 	42
	SECTION 8.06.	 	Money Held in Trust	 	42
	SECTION 8.07.	 	Compensation and Reimbursement	 	43
	SECTION 8.08.	 	Disqualification; Conflicting Interests	 	43
	SECTION 8.09.	 	Corporate Trustee Required; Eligibility	 	43
	SECTION 8.10.	 	Resignation and Removal; Appointment of Successor	 	44
	SECTION 8.11.	 	Acceptance of Appointment by Successor	 	45
	SECTION 8.12.	 	Merger, Conversion, Consolidation or Succession to Business of Trustee	 	46

ii

 

	SECTION 8.13.	 	Preferential Collection of Claims Against Company	 	46
	SECTION 8.14.	 	Appointment of Authenticating Agents	 	46
	
ARTICLE NINE

Supplemental Indentures
	

SECTION 9.01.	
 	

Supplemental Indentures Without Consent of Holders	
 	

47
	SECTION 9.02.	 	Supplemental Indentures With Consent of Holders	 	48
	SECTION 9.03.	 	Execution of Supplemental Indentures	 	49
	SECTION 9.04.	 	Effect of Supplemental Indentures	 	49
	SECTION 9.05.	 	Conformity with Trust Indenture Act	 	49
	SECTION 9.06.	 	Reference in Securities to Supplemental Indentures	 	49
	
ARTICLE TEN

Consolidation, Merger, Conveyance or Transfer
	

SECTION 10.01.	
 	

Company May Consolidate, etc., Only on Certain Terms	
 	

50
	SECTION 10.02.	 	Successor Corporation Substituted	 	50
	
ARTICLE ELEVEN

Satisfaction and Discharge
	

SECTION 11.01.	
 	

Satisfaction and Discharge of Indenture	
 	

50
	SECTION 11.02.	 	Application of Trust Money	 	51
	SECTION 11.03.	 	Reinstatement	 	51
	
ARTICLE TWELVE

Immunity of Incorporators, Stockholders, Officers and Directors
	

SECTION 12.01.	
 	

Exemption from Individual Liability	
 	

52
	
ARTICLE THIRTEEN

Sinking Funds
	

SECTION 13.01.	
 	

Applicability of Article	
 	

52
	SECTION 13.02.	 	Satisfaction of Sinking Fund Payments with Securities	 	52
	SECTION 13.03.	 	Redemption of Securities for Sinking Fund	 	53
	
ARTICLE FOURTEEN

Repayment at the Option of Holders
	

SECTION 14.01.	
 	

Applicability of Article	
 	

53
	SECTION 14.02.	 	Repayment of Securities	 	53
	SECTION 14.03.	 	Exercise of Option, Notice	 	53
	SECTION 14.04.	 	Election of Repayment by Remarketing Entities	 	54
	SECTION 14.05.	 	Securities Payable on the Repayment Date	 	54
	
ARTICLE FIFTEEN

Meetings of Holders of Securities
	

SECTION 15.01.	
 	

Purposes for Which Meetings May Be Called	
 	

54
	SECTION 15.02.	 	Call, Notice and Place of Meetings	 	54
	SECTION 15.03.	 	Persons Entitled to Vote at Meetings	 	55
	SECTION 15.04.	 	Quorum; Action	 	55
	SECTION 15.05.	 	Determination of Voting Rights; Conduct and Adjournment of Meetings	 	56
	SECTION 15.06.	 	Counting Votes and Recording Action of Meetings	 	56
	
ARTICLE SIXTEEN

Miscellaneous
	

SECTION 16.01.	
 	

Counterparts	
 	

57

iii

  

 
 

CROSS-REFERENCE TABLE    
  

	TIA Section
 
	 	 
	 	Indenture Section

	310	(a)(1)	 	 	 	8.09
	 	(a)(2)	 	 	 	8.09
	 	(a)(3)	 	 	 	N.A.
	 	(a)(4)	 	 	 	N.A.
	 	(b)	 	 	 	8.08;
	 	 	 	 	 	8.10
	 	(c)	 	 	 	N.A.
	311	(a)	 	 	 	8.13
	 	(b)	 	 	 	8.13
	 	(c)	 	 	 	N.A.
	312	(a)	 	 	 	6.01;
	 	 	 	 	 	6.02
	 	(b)	 	 	 	6.02
	 	(c)	 	 	 	6.02
	313	(a)	 	 	 	6.03
	 	(b)(1)	 	 	 	6.03
	 	(b)(2)	 	 	 	6.03
	 	(c)	 	 	 	6.03
	 	(d)	 	 	 	6.03
	314	(a)	 	 	 	6.04;
	 	 	 	 	 	5.05
	 	(b)	 	 	 	N.A.
	 	(c)(1)	 	 	 	1.02
	 	(c)(2)	 	 	 	1.02
	 	(c)(3)	 	 	 	N.A.
	 	(d)	 	 	 	N.A.
	 	(e)	 	 	 	1.02
	 	(f)	 	 	 	1.02
	315	(a)	 	 	 	8.01
	 	(b)	 	 	 	8.02
	 	(c)	 	 	 	8.01
	 	(d)	 	 	 	8.01
	 	(e)	 	 	 	7.14
	316	(a)	 	 	 	 
	(last sentence)	 	 	 	1.01
	 	(a)(1)(A)	 	 	 	7.12
	 	(a)(1)(B)	 	 	 	7.13
	 	(a)(2)	 	 	 	N.A.
	 	(b)	 	 	 	7.08
	 	(c)	 	 	 	1.04
	317	(a)(1)	 	 	 	7.03
	 	(a)(2)	 	 	 	7.04
	 	(b)	 	 	 	5.03
	318	(a)	 	 	 	N.A.
	 	 	 	N.A. Means Not Applicable.	 	 

        Note:    This Cross-Reference Table shall not, for any purpose, be deemed to be part of this indenture. 

iv

        THIS
INDENTURE is entered into as of February 13, 2003, between CITY NATIONAL CORPORATION, a corporation organized and existing under the laws of the State of Delaware
(hereinafter called the "Company"), having its principal executive office at City National Center, 400 North Roxbury Drive, Beverly Hills, CA 90210, and U.S. BANK NATIONAL ASSOCIATION, a national
banking association (hereinafter called the "Trustee"), having its principal corporate trust office at 550 South Hope Street, 5th Floor, Los Angeles, California 90071. 

RECITALS OF THE COMPANY  

        The Company deems it necessary from time to time to issue its unsecured debentures, notes, bonds and other evidences of indebtedness to be issued in one or more
series (hereinafter called the "Securities") as hereinafter set forth, and to provide therefor the Company has duly authorized the execution and delivery of this Indenture. 

        All
things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:  

        For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and
proportionate benefit of all Holders of the Securities or of any series thereof, as follows: 

 
 

ARTICLE ONE    
    
    Definitions and Other
  Provisions of General Application    
  

        SECTION
1.01.    Definitions.    For all purposes of this Indenture, except as otherwise expressly provided or unless
the context otherwise requires: 

        (i)    the
term "this Indenture" means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental
hereto entered into pursuant to the applicable provisions hereof and shall include the terms of particular series of Securities established as contemplated by Section 3.01; 

        (ii)  all
references in this instrument to designated "Articles", "Sections" and other subdivisions are to the designated Articles, Sections and other subdivisions of this
Indenture. The words "herein", "hereof" and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. The words
"including" and words of similar import shall mean "including, without limitation," unless otherwise specified. The word "or" shall not be exclusive; 

        (iii)  the
terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular; 

        (iv)  all
other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; and 

        (v)  all
accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles, and, except as may be
otherwise expressly provided herein or in one or more indentures supplemental hereto, the term "generally accepted accounting principles" with respect to any computation required or permitted
hereunder shall mean such accounting principles as are generally accepted at the date of such computation. 

        "Act",
when used with respect to any Holder, has the meaning specified in Section 1.04. 

 

        "Affiliate"
of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For
the purposes of this definition, "control" when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through
the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing. 

        "Authenticating
Agent" means any Person authorized to act on behalf of the Trustee to authenticate Securities pursuant to Section 8.14. 

        "Authorized
Newspaper" means a newspaper, in an official language of the country of publication or in the English language, customarily published on each Business Day, whether or not
published on Saturdays, Sundays or holidays, and of general circulation in the place in connection with which the term is used or in the financial community of such place. Where successive
publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city meeting the foregoing requirements and in
each case on any Business Day. 

        "Authorized
Officer" means the Chairman of the Board, the President, any Vice Chairman of the Board, the Chief Financial Officer, any Vice President, the Treasurer, the Secretary, the
Comptroller, any Assistant Comptroller, any Assistant Treasurer or any Assistant Secretary of the Company. 

        "Bearer
Security" means any Security in the form established pursuant to Section 2.02 which is payable to bearer, including, without limitation, unless the context otherwise
indicates, a Security in global bearer form. 

        "Board
of Directors" means (i) the board of directors of the Company or any duly authorized committee of that board or (ii) the Chairman, any Vice Chairman, the President
or any Vice President of the Company, in each case, duly authorized by the board of directors of the Company to take a specified action or make a specified determination. 

        "Board
Resolution" means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full
force and effect on the date of such certification, and delivered to the Trustee. 

        "Business
Day" means any day, other than a Saturday or Sunday, on which banking institutions in Los Angeles, California, New York, New York and any Place of Payment for the Securities
are open for business. 

        "Clearstream"
means Clearstream Banking, S.A., or its successors. 

        "Commission"
means the Securities and Exchange Commission, as from time to time constituted, created under the Exchange Act, or if any time after the execution and delivery of this
instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

        "Common
Depositary" has the meaning specified in Section 3.04(b)(ii). 

        "Company"
means the Person named as the "Company" in the first paragraph of this instrument until any successor corporation shall have become such pursuant to the applicable provisions
of this Indenture, and thereafter "Company" shall mean any such successor corporation. 

        "Company
Request" and "Company Order" mean, respectively, a written request or order signed in the name of the Company by its Chairman of the Board, its President, a Vice Chairman of the
Board, its Chief Financial Officer or a Vice President, and by its Treasurer, an Assistant Treasurer, its Comptroller, an Assistant Comptroller, its Secretary or an Assistant Secretary, and delivered
to the Trustee. 

2

 

        "corporation"
includes corporations, associations, companies and business trusts. 

        "coupon"
means any interest coupon appertaining to a Bearer Security. 

        "Defaulted
Interest" has the meaning specified in Section 3.07. 

        "Depositary"
means, with respect to the Securities of any series issuable or issued in the form of a Global Security, the Person designated as Depositary by the Company pursuant to
Section 3.01 until a successor Depositary shall have been appointed pursuant to Section 3.05, and thereafter "Depositary" shall mean or include each Person who is then a Depositary
hereunder, and if at any time there is more than one such Person, "Depositary" as used with respect to the Securities of any such series shall mean the Depositary with respect to the Securities of
that series. 

        "Designated
Currency" has the meaning specified in Section 3.12. 

        "Dollar"
or "$" means the coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts. 

        "Euroclear"
means Euroclear Bank S.A./N.V., as operator of the Euroclear System, or any successor securities clearing agency. 

        "Event
of Default" has the meaning specified in Section 7.01. 

        "Exchange
Act" means the Securities Exchange Act of 1934, as amended from time to time, and any statute successor thereto. 

        "Exchange
Rate" shall have the meaning specified as contemplated in Section 3.01. 

        "Exchange
Rate Agent" shall have the meaning specified as contemplated in Section 3.01. 

        "Exchange
Rate Officer's Certificate" with respect to any date for the payment of principal of (and premium, if any) and interest on any series of Securities, means a certificate setting
forth the applicable Exchange Rate and the amounts payable in Dollars and Foreign Currencies in respect of the principal of (and premium, if any) and interest on Securities denominated in any
composite currency or Foreign Currency, and signed by the Chairman of the Board, a Vice Chairman of the Board, the President, the Chief Financial Officer, any Vice President, the Treasurer or any
Assistant Treasurer of the Company or the Exchange Rate Agent appointed pursuant to Section 3.01 and delivered to the Trustee. 

        "Foreign
Currency" means a currency issued by the government of any country other than the United States of America. 

        "Global
Exchange Date" has the meaning specified in Section 3.04(b)(iv). 

        "Global
Security" means a Security issued to evidence all or a part of a series of Securities in accordance with Section 3.03. 

        "Holder",
with respect to a Registered Security, means a Person in whose name such Registered Security is registered in the Security Register and, with respect to a Bearer Security (or
any temporary Global Security) or a coupon, means the bearer thereof. 

        "interest",
when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 

        "Interest
Payment Date", when used with respect to any series of Securities, means the Stated Maturity of an installment of interest on such Securities. 

        "Maturity",
when used with respect to any Security, means the date on which the principal of such Security (or any installment of principal) becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

3

 

        "Officers'
Certificate" means a certificate signed by the Chairman of the Board, the President, a Vice Chairman of the Board, the Chief Financial Officer or a Vice President, and by the
Treasurer, an Assistant Treasurer, the Comptroller, an Assistant Comptroller, the Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. Each such certificate shall contain
the statements set forth in Section 1.02, if applicable. 

        "Opinion
of Counsel" means a written opinion of counsel, who may (except as otherwise expressly provided in this Indenture) be an employee of the Company. Each such opinion shall contain
the statements set forth in Section 1.02, if applicable. 

        "Original
Issue Discount Security" means any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 7.02. 

        "Outstanding",
when used with respect to Securities or Securities of any series, means, as of the date of determination, all such Securities theretofore authenticated and delivered under
this Indenture, except: 

        (i)    such
Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

        (ii)  such
Securities for whose payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the
Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities;  provided that, if such Securities are to be
redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made; and 

        (iii)  such
Securities in lieu of which other Securities have been authenticated and delivered pursuant to Section 3.06 of this Indenture; 

provided, however, that in determining whether the Holders of the requisite principal amount of such
Securities Outstanding have given any request, demand, authorization, direction, notice, consent or waiver hereunder or whether a quorum is present at a meeting of Holders of Securities, the principal
amount of Original Issue Discount Securities that shall be deemed to be Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such
determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 7.02, and Securities owned by the Company or any other obligor upon the Securities or any Affiliate
of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be disregarded. Securities so owned which have been
pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee's right so to act with respect to such Securities and that the pledgee is
not the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor. 

        "Paying
Agent" means any Person authorized by the Company to pay the principal of, premium, if any, or interest on any Securities or any coupons appertaining thereto on behalf of the
Company. 

        "Person"
means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or
any agency or political subdivision thereof. 

4

 

        "Place
of Payment", when used with respect to the Securities of any series, means the place or places where, subject to the provisions of Section 5.02, the principal of (and
premium, if any) and interest on the Securities of that series are payable as specified in accordance with Section 3.01. 

        "Predecessor
Security" of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and for the
purposes of this definition, any Security authenticated and delivered under Section 3.06 in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as
the mutilated, destroyed, lost or stolen Security. 

        "Principal
Corporate Trust Office" means the office of the Trustee, at which at any particular time its corporate trust business shall be principally administered, which office at the
date of execution of this instrument is at the address set forth in the first paragraph of this instrument. 

        "Principal
Paying Agent" means the Paying Agent, if any, designated as such by the Company pursuant to Section 3.01 of this Indenture. 

        "Redemption
Date", when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

        "Redemption
Price", when used with respect to any Security to be redeemed, means the price specified in such Security at which it is to be redeemed pursuant to this Indenture. 

        "Registered
Security" means any Security in the form established pursuant to Section 2.02 which is registered in the Security Register. 

        "Regular
Record Date" for the interest payable on any Security on any Interest Payment Date means the date, if any, specified in such Security as the "Regular Record Date". 

        "Remarketing
Entity", when used with respect to the Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity, means any Person
designated by the Company to purchase any such Securities. 

        "Repayment
Date", when used with respect to any Security to be repaid upon exercise of option for repayment by the Holder, means the date fixed for such repayment pursuant to this
Indenture. 

        "Repayment
Price", when used with respect to any Security to be repaid upon exercise of option for repayment by the Holder, means the price at which it is to be repaid pursuant to this
Indenture. 

        "Responsible
Officer", when used with respect to the Trustee, means any officer of the Trustee with direct responsibility for the administration of this Indenture and also means, with
respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter is referred because of his knowledge of and familiarity with the particular subject. 

        "Security"
or "Securities" means any Security or Securities, as the case may be, authenticated and delivered under this Indenture;  provided, however, that, if at any
time there is more than one Person acting as Trustee under this
Indenture, "Securities", with respect to any such Person, shall mean Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such
Person is not Trustee. 

        "Security
Register" has the meaning specified in Section 3.05. 

        "Security
Registrar" and "Co-Security Registrar" have the meaning specified in Section 3.05. 

        "Special
Record Date" for the payment of any Defaulted Interest means the date fixed by the Trustee pursuant to Section 3.07. 

5

 

        "Stated
Maturity", when used with respect to any Security, or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on
which the principal of such Security, or such installment of principal or interest, is due and payable. 

        "Subsidiary
of the Company" or "Subsidiary" means a Person at least a majority of the outstanding voting securities or interests of which is owned, directly or indirectly, by the Company
or by one or more Subsidiaries of the Company, or by the Company and one or more Subsidiaries of the Company. 

        As
used under this definition, the term "voting stock" means stock having ordinary voting power for the election of directors irrespective of whether or not stock of any other class or
classes shall have or might have voting power by reason of the happening of any contingency. 

        "Trustee"
means the Person named as the "Trustee" in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and
thereafter "Trustee" shall mean or include each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, "Trustee" as used with respect to the Securities of any
series shall mean the Trustee with respect to Securities of that series. 

        "Trust
Indenture Act" or "TIA" (except as herein otherwise expressly provided) means the Trust Indenture Act of 1939, as in force at the date as of which this instrument was executed,
and, to the extent required by law, as amended. 

        "United
States" means the United States of America (including the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

        "United
States Alien", except as otherwise provided in or pursuant to this Indenture, means any Person who, for United States Federal income tax purposes, is a foreign corporation, a
nonresident alien individual, a nonresident alien fiduciary of a foreign estate or trust, or a foreign partnership, one or more of the members of which is, for United States Federal income tax
purposes, a foreign corporation, a nonresident alien individual or a nonresident alien fiduciary of a foreign estate or trust. 

        "Vice
President", when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title
"vice president". 

        SECTION
1.02.    Compliance Certificates and Opinions.    Upon any application or request by the Company to the
Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers' Certificate stating that all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with,
except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular
application or request, no additional certificate or opinion need be furnished. 

        Every
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (except as otherwise expressly provided in this Indenture) shall
include: 

        (i)    a
statement that each individual signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

        (ii)  a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are
based; 

        (iii)  a
statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been complied with; and 

6

 

        (iv)  a
statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 

        SECTION
1.03.    Form of Documents Delivered to Trustee.    In any case where several matters are required to be
certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so
certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person
may certify or give an opinion as to such matters in one or several documents. 

        Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel. Any such
certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that
the information with respect to such factual matters is in the possession of the Company. 

        Where
any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they
may, but need not, be consolidated and form one instrument. 

        SECTION
1.04.    Acts of Holders.    (i) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by Holders or Holders of any series may be embodied in and evidenced by one or more instruments of substantially similar tenor
signed by such Holders in person or by an agent duly appointed in writing. If Securities of a series are issuable in whole or in part as Bearer Securities, any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may, alternatively, be embodied in and evidenced by the record of Holders of Securities
voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders of Securities duly called and held in accordance with the provisions of Article Fifteen, or
a combination of such instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are
delivered to the Trustee, and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the "Act" of the Holders signing such instrument or instruments and so voting at any such meeting.
Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to
Section 8.01) conclusive in favor of the Trustee and the Company, if made in the manner provided in this Section. The record of any meeting of Holders of Securities shall be proved in the
manner provided in Section 15.06. 

        (ii)  The
fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by the certificate
of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof.
Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The
fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

        (iii)  The
ownership of Registered Securities shall be proved by the Security Register. 

7

  

        (iv)  The
principal amount and serial numbers of Bearer Securities held by any Person, and the date of holding the same, may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any trust company, bank or other depositary, wherever situated, if such certificate shall be deemed by the Trustee to be satisfactory,
showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by the certificate
or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that such ownership of
any Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is
produced to the Trustee by some other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer Outstanding. 

        (v)  The
fact and date of execution of any such instrument or writing, the authority of the Person executing the same and the principal amount and serial numbers of Bearer
Securities held by the Person so executing such instrument or writing and the date of holding the same may also be proved in any other manner which the Trustee deems sufficient; and the Trustee may in
any instance require further proof with respect to any of the matters referred to in this Section. 

        (vi)  Any
request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall bind every future Holder of the same Security
and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee or the
Company in reliance thereon, whether or not notation of such action is made upon such Security. 

      (vii)  For
purposes of determining the principal amount of Outstanding Securities of any series the Holders of which are required, requested or permitted to give any request,
demand, authorization, direction, notice, consent, waiver or take any other Act under the Indenture, each Security denominated in a Foreign Currency or composite currency shall be deemed to have the
principal amount determined by the Exchange Rate Agent by converting the principal amount of such Security in the currency in which such Security is denominated into Dollars at the Exchange Rate as of
the date such Act is delivered to the Trustee and, where it is hereby expressly required, to the Company, by Holders of the required aggregate principal amount of the Outstanding Securities of such
series (or, if there is no such rate on such date, such rate on the date determined as specified as contemplated in Section 3.01). 

      (viii)  The
Company may, in the circumstances permitted by the Trust Indenture Act, set a record date for purposes of determining the identity of Holders of Securities of any
series entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other Act, or to vote or consent to any action by vote or consent authorized or permitted to
be given or taken by Holders of Securities of such series. If not set by the Company prior to the first solicitation of a Holder of Securities of such Series made by any Person in respect of any such
action, or in the case of any such vote, prior to such vote, such record date shall be the later of 30 days prior to the first solicitation of such consent or the date of the most recent list
of Holders of such Securities furnished to the Trustee pursuant to Section 6.01 prior to such solicitation. 

        (ix)  Without
limiting the foregoing, a Holder entitled hereunder to take any action hereunder with regard to any particular Security may do so with regard to all or any part
of the principal amount of such Security or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. Any
notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate
Holders of each such different part. 

8

 

        (x)  Without
limiting the generality of the foregoing, unless otherwise specified pursuant to Section 3.01 or pursuant to one or more indentures supplemental hereto, a
Holder, including a Depositary that is the Holder of a Global Security, may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice,
consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and a Depositary that is the Holder of a Global Security may provide its proxy or proxies to the
beneficial owners of interests in any such Global Security through such Depositary's standing instructions and customary practices. 

        (xi)  The
Company may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any Global Security held by a Depositary entitled
under the procedures of such Depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action
provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall
be entitled to make, give or take such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such
request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or effective if made, given or taken more than 90 days after such record date. 

        SECTION
1.05.    Notices, etc., to Trustee and Company.    Any request, demand, authorization, direction, notice,
consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with: 

        (i)    the
Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its
Principal Corporate Trust Office, Attention: Corporate Trust; or 

        (ii)  the
Company by any Holder or by the Trustee shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed,
first-class, postage prepaid, to the Company, to the attention of its Treasurer, addressed to it at the address of its principal office specified in the first paragraph of this Indenture or at any
other address previously furnished in writing to the Trustee by the Company. 

        SECTION
1.06.    Notices to Holders; Waiver.    Where this Indenture or any Security provides for notice to Holders of
any event: 

        (1)  such
notice shall be sufficiently given (unless otherwise herein or in such Security expressly provided) if in writing and mailed, first class, postage prepaid, to each
Holder of Registered Securities affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for
the giving of such notice. 

        (2)  such
notice shall be sufficiently given to Holders of Bearer Securities if published in an Authorized Newspaper in The City of New York and, if the Securities of such
series are then listed on the London Stock Exchange plc and such stock exchange shall so require, in London and, if the Securities of such series are then listed on the Luxembourg Stock Exchange and
such stock exchange shall so require, in Luxembourg and, if the Securities of such series are then listed on any other stock exchange and such stock exchange shall so require, in any other required
city outside the United States, or, if not practicable, elsewhere in Europe on a Business Day at least twice, the first such publication to be not earlier than the earliest date, and not later than
the latest date, prescribed for the giving of such notice. In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to
Holders of Registered Securities by mail, then such notification as shall be made with the approval 

9

 

of the Trustee shall constitute a sufficient notification for every purpose hereunder. In any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder of Registered Securities shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or
the sufficiency of any notice by publication to Holders of Bearer Securities given as provided above. If a notice or communication is mailed in the manner provided above, it is duly given, whether or
not the addressee receives it. 

        In
case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be impracticable to publish any notice to
Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall
be given with the approval of the Trustee shall constitute sufficient notice to such Holders for every purpose hereunder. Neither the failure to give notice by publication to Holders of Bearer
Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of any notice mailed to Holders of Registered Securities as provided above. 

        Where
this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 

        SECTION
1.07.    Language of Notices, etc.    Any request, demand, authorization, direction, notice, consent, or
waiver required or permitted under this Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication, as may be specified
in a form of Security or, in the absence of such specification, as directed in writing by the Company. 

        SECTION
1.08.    Conflict with Trust Indenture Act.    If and to the extent that any provision of this Indenture
limits, qualifies or conflicts with the duties imposed by, or with another provision (an "incorporated provision") included in this Indenture by operation of, Sections 310 to 318, inclusive, of the
TIA, such imposed duties or incorporated provision shall control. 

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

        SECTION
1.10.    Successors and Assigns.    All covenants and agreements in this Indenture by the Company shall bind
its successors and assigns, whether so expressed or not. 

        SECTION
1.11.    Separability Clause.    In case any provision in this Indenture or in the Securities 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
1.12.    Benefits of Indenture.    Nothing in this Indenture or in the Securities, express or implied, shall
give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

        SECTION
1.13.    Legal Holidays.    Unless otherwise provided as contemplated by Section 3.01 with respect to
any series of Securities, in any case where any Interest Payment Date, Stated Maturity, Repayment Date or Redemption Date of any Security or any date on which any Defaulted Interest is proposed to be
paid shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provisions of the Securities or this Indenture) payment of the principal of, premium, if any, or interest on any Securities need not be made at such Place of Payment on such date, but may be made on
the next succeeding Business Day with the same force and effect as if made on the Interest Payment Date, Stated Maturity, Repayment Date or Redemption Date or on the date on which Defaulted Interest
is proposed to be paid, and, if such payment is made on such next succeeding Business Day, no 

10

 

interest shall accrue on such payment for the intervening period from and after any such original Interest Payment Date, Stated Maturity, Repayment Date or Redemption Date, or date on which Defaulted
Interest is proposed to be paid, as the case may be. 

        SECTION
1.14.    Governing Law.    This Indenture and the Securities shall be construed in accordance with and
governed by the laws of the State of New York. 

 
 

ARTICLE TWO    
    
    Security Forms    
  

        SECTION
2.01.    Forms Generally.    All Securities and any related coupons shall have such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements
placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers executing such Securities or coupons, as evidenced
by their execution of the Securities or coupons. 

        The
Trustee's certificates of authentication shall be in substantially the form set forth in this Article. 

        Unless
otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, the Securities of each series shall be issuable in registered form without
coupons. If so provided as contemplated by Section 3.01, the Securities of a series shall be issuable solely in bearer form, or in both registered form and bearer form. Unless otherwise
specified as contemplated by Section 3.01, Securities in bearer form shall have interest coupons attached. 

        The
definitive Securities and coupons shall be printed, lithographed or engraved or produced by any combination of these methods on a steel engraved border or steel engraved borders or
may be
produced in any other manner, all as determined by the officers executing such Securities or coupons, as evidenced by their execution of such Securities or coupons. 

        SECTION
2.02.    Form of Securities.    Each Security and coupon shall be in one of the forms approved from time to
time by or pursuant to a Board Resolution or an indenture supplemental hereto. Upon or prior to the delivery of a Security or coupons in any such form to the Trustee for authentication, the Company
shall deliver to the Trustee the following: 

        (i)    such
indenture supplemental hereto or the Board Resolution by or pursuant to which such form of Security or coupons has been approved, certified by the Secretary or an
Assistant Secretary of the Company; 

        (ii)  the
Officers' Certificate required by Section 3.01 of this Indenture; 

        (iii)  the
Company Order required by Section 3.03 of this Indenture; and 

        (iv)  the
Opinion of Counsel required by Section 3.03 of this Indenture. 

        If
temporary Securities of any series are issued in global form as permitted by Section 3.04, the form thereof also shall be established as provided in this Section 2.02. 

11

 

        SECTION
2.03.    Form of Trustee's Certificate of Authentication.    

TRUSTEE'S CERTIFICATE OF AUTHENTICATION  

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

	 	 	U.S. BANK NATIONAL ASSOCIATION,
 as Trustee,
	

 	
 	

by	

 
	 	 	 	
 Authorized Officer

        Date:

        SECTION
2.04.    Global Securities.    If Securities of a series are issuable in whole or in part in global form, as
specified as contemplated by Section 3.01, then, notwithstanding clause (xii) of Section 3.01 and the provisions of Section 3.02, such Global Security shall represent such
of the outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and
that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced or increased to reflect exchanges or increased to reflect the issuance of additional
uncertificated securities of such series. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be
made in such manner and upon instructions given by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 3.03 or
Section 3.04. 

        Global
Securities may be issued in either registered or bearer form and in either temporary or permanent form. 

 
 

ARTICLE THREE    
    
    The Securities    
  

        SECTION
3.01.    Title and Terms.    The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited. The Securities may be issued up to the aggregate principal amount of Securities from time to time authorized by or pursuant to a Board Resolution. 

        The
Securities may be issued in one or more series. All Securities of each series issued under this Indenture shall in all respects be equally and ratably entitled to the benefits hereof
with respect to such series without preference, priority or distinction on account of the actual time or times of the authentication and delivery or Maturity of the Securities of such series. There
shall be established in or pursuant to a Board Resolution, and set forth in, or determined in the manner provided in, an Officers' Certificate, or established in one or more indentures supplemental
hereto, prior to the issuance of Securities of any series: 

          (i)  the
title of the Securities of the series (which shall distinguish the Securities of the series from all other Securities); 

        (ii)  any
limit upon the aggregate principal amount or aggregate initial public offering price of the Securities of the series which may be authenticated and delivered under
this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in 

12

 

lieu of, other Securities of that series pursuant to this Article Three or Sections 4.07, 9.06 or 14.03); 

        (iii)  the
priority of payment, if any, of the Securities; 

        (iv)  the
price or prices (which may be expressed as a percentage of the aggregate principal amount thereof) at which the Securities will be issued; 

        (v)  the
date or dates on which the principal and premium, if any, of the Securities of the series is payable; 

        (vi)  the
rate or rates at which the Securities of the series shall bear interest, if any, or the method or methods by which such rates may be determined, if any, the date or
dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable, the Regular Record Date for the interest payable on any Interest Payment Date and the
basis upon which interest shall be calculated if other than that of a 360-day year consisting of twelve 30-day months; 

      (vii)  the
extent to which any of the Securities will be issuable in temporary or permanent global form, and in such case, the Depositary for such Global Security or
Securities, the terms and conditions, if any, upon which such Global Security may be exchanged in whole or in part for definitive securities, and the manner in which any interest payable on a
temporary or permanent Global Security will be paid, whether or not consistent with Section 3.04 or 3.05; 

      (viii)  the
office or offices or agency where, subject to Section 5.02, the Securities may be presented for registration of transfer or exchange; 

        (ix)  the
place or places where, subject to the provisions of Section 5.02, the principal of (and premium, if any) and interest, if any, on Securities of the series
shall be payable; 

        (x)  the
period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part,
at the option of the Company; 

        (xi)  the
obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or analogous provisions or at the option of a Holder
thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series shall be redeemed or purchased, in whole or in part,
pursuant to such obligation; 

      (xii)  if
other than denominations of $1,000 and any integral multiple thereof, the denominations in which Registered Securities of the series shall be issuable; and, if
other than $5,000 or any integral multiple thereof, the denominations in which Bearer Securities of the series shall be issuable; 

      (xiii)  the
currency or currencies of denominations of the Securities of any series, which may be in Dollars, any Foreign Currency or any composite currency, and, if any such
currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency; 

      (xiv)  the
currency or currencies in which payment of the principal of (and premium, if any) and interest on the Securities will be made, the currency or currencies, if any,
in which payment of the principal of (and premium, if any) or the interest on Registered Securities, at the election of each of the Holders thereof, may also be payable and the periods within which
and the terms and conditions upon which such election is to be made and the Exchange Rate and the Exchange Rate Agent; 

13

 

      (xv)  if
the amount of payments of principal of (and premium, if any) or any interest on Securities of the series may be determined with reference to an index, the method or
methods by which such amounts shall be determined; 

      (xvi)  whether
Securities of the series are to be issuable as Registered Securities, Bearer Securities or both, whether Securities of the series are to be issuable with or
without coupons or both and, in the case of Bearer Securities, the date as of which such Bearer Securities shall be dated if other than the date of original issuance of the first Security of such
series of like tenor and term to be issued; 

    (xvii)  whether,
and under what conditions, additional amounts will be payable to Holders of Securities of the series pursuant to Section 5.04; 

    (xviii)  whether
any of the Securities will be issued as Original Issue Discount Securities and the portion of the principal amount of such Securities which shall be payable
upon declaration of acceleration of the Maturity thereof pursuant to Section 7.02; 

      (xix)  information
with respect to book-entry procedures, if any; 

      (xx)  any
addition to or change in the Events of Default or covenants of the Company pertaining to the Securities of the series; and 

      (xxi)  any
other terms of the series. 

        All
Securities of any one series and the coupons appertaining to Bearer Securities of such series, if any, shall be substantially identical except, in the case of Registered Securities,
as to denomination and except as may otherwise be provided in or pursuant to such Board Resolution and set forth, or determined in the manner provided in such Officers' Certificate or in any indenture
supplemental hereto. 

        Securities
of any particular series may be issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of
interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest may be payable and with different Redemption Dates or Repayment Dates
and may be denominated in different currencies or payable in different currencies. 

        Notwithstanding
Section 3.01(ii) and unless otherwise expressly provided with respect to a series of Securities, the aggregate principal amount of a series of Securities
may be increased and additional Securities of such series may be issued up to the maximum aggregate principal amount authorized with respect to such series as increased. 

14

   
        SECTION 3.02.    Denominations.    The Securities of each series shall be issuable in such form and denominations
as
shall be specified as contemplated by Section 3.01. In the absence of any specification with respect to the Securities of any series, the Registered Securities of each series shall be issuable
only as Securities without coupons in denominations of $1,000 and any integral multiple thereof and the Bearer Securities of each series, if any, shall be issuable with coupons and in denominations of
$5,000 and any integral multiple thereof. 

        SECTION
3.03.    Execution, Authentication, Delivery and Dating.    The Securities shall be executed on behalf of the
Company by its Chairman of the Board, its Chief Financial Officer, its President, a Vice Chairman of the Board, or one of its Vice Presidents or its Treasurer and by its Secretary or one of its
Assistant Secretaries. The signatures of any or all of these officers on the Securities may be manual or facsimile. Coupons shall bear the facsimile signature of the Company's Chairman of the Board,
its President, a Vice Chairman of the Board, its Chief Financial Officer, one of its Vice Presidents or its Treasurer. 

        Securities
and coupons bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 

        At
any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series, together with any coupons appertaining thereto,
executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee shall, upon receipt of the Company
Order, authenticate and deliver such Securities as in this Indenture provided and not otherwise; provided,  however, that, in connection with its original
issuance, no Bearer Security shall be mailed or otherwise delivered to any location in the United States;
and provided further that a Bearer Security may be delivered in connection with its original issuance only if the Person entitled to receive such Bearer
Security shall have delivered to the Trustee, or such other Person as shall be specified in a temporary Global Security delivered pursuant to Section 3.04, a certificate in the form required by
Section 3.11(i). 

        If
the Company shall establish pursuant to Section 3.01 that the Securities of a series are to be issued in whole or in part in the form of one or more Global Securities in
registered or permanent bearer form, then the Company shall execute and the Trustee shall, in accordance with this Section and a Company Order for the authentication and delivery of such Global
Securities with respect to such series, authenticate and deliver one or more Global Securities in permanent or temporary form that (i) shall
represent and shall be denominated in an aggregate amount equal to the aggregate principal amount of the Outstanding Securities of such series to be represented by one or more Global Securities,
(ii) shall be registered, if in registered form, in the name of the Depositary for such Global Security or Securities or the nominee of such Depositary, and (iii) shall be delivered by
the Trustee to such Depositary or pursuant to such Depositary's instructions. 

        Each
Depositary designated pursuant to Section 3.01 for a Global Security in registered form must, at the time of its designation and at all times while it serves as Depositary,
be a clearing agency registered under the Exchange Act and any other applicable statute or regulation. 

        In
authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and
(subject to Section 8.01) shall be fully protected in relying upon, an Opinion of Counsel complying with Section 1.02 and stating that: 

        (i)    the
form of such Securities and coupons, if any, has been established in conformity with the provisions of this Indenture; 

15

 

        (ii)  the
terms of such Securities and coupons, if any, or the manner of determining such terms, have been established in conformity with the provisions of this Indenture;
and 

        (iii)  that
such Securities and coupons, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in
such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, subject to bankruptcy, insolvency,
reorganization, fraudulent transfer, moratorium and other laws of general applicability relating to or affecting the enforcement of creditors' rights and to general principles of equity. 

        The
Trustee shall not be required to authenticate such Securities if the issue thereof will adversely affect the Trustee's own rights, duties or immunities under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 

        Notwithstanding
the provisions of Section 3.01 and of this Section 3.03, if all Securities of a series are not to be originally issued at one time, it shall not be
necessary to deliver the Board Resolution or Officers' Certificate otherwise required pursuant to Section 3.01 or the Company Order and Opinion of Counsel otherwise required pursuant to this
Section 3.03 at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon
original issuance of the first Security of such series to be issued and such documents reasonably contemplate the issuance of all Securities of such series;  provided that any subsequent request by the
Company to the Trustee to authenticate Securities of such series upon original issuance shall constitute a
representation and warranty by the Company that as of the date of such request, the statements made in the Officers' Certificate or other certificates delivered pursuant to Sections 1.02 and 3.01
shall be true and correct as if made on such date. 

        A
Company Order, Officers' Certificate or Board Resolution or supplemental indenture delivered by the Company to the Trustee in the circumstances set forth in the preceding paragraph may
provide that Securities which are the subject thereof will be authenticated and delivered by the Trustee or its agent on original issue from time to time in the aggregate principal amount, if any,
established for such series pursuant to such procedures acceptable to the Trustee as may be specified from time to time by Company Order upon the telephonic (promptly confirmed in writing), electronic
or written order of Persons designated in such Company Order, Officers' Certificate, supplemental indenture or Board Resolution and that such Persons are authorized to determine, consistent with such
Company Order, Officers' Certificate, supplemental indenture or Board Resolution, such terms and conditions of said Securities as are specified in such Company Order, Officers' Certificate,
supplemental indenture or Board Resolution. 

        Each
Registered Security shall be dated the date of its authentication; and unless otherwise specified as contemplated by Section 3.01, each Bearer Security and any temporary
Global Security referred to in Section 3.04 shall be dated as of the date of original issuance of such Security. 

        No
Security or coupon appertaining thereto shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature of an authorized officer, and such certificate upon any Security shall be
conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. Except as permitted by Section 3.06, the Trustee shall not authenticate and
deliver any Bearer Security unless all appurtenant coupons for interest then matured have been detached and cancelled. Notwithstanding the foregoing, if any Security or portion thereof shall have been
duly authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 3.09
together with a written statement (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) stating that such Security or portion thereof has never been
issued and sold by the Company, for all purposes of 

16

 

this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

        SECTION
3.04.    Temporary Securities.    (a) Pending the preparation of definitive Securities of any series,
the Company may execute, and upon Company Order and the receipt of the certifications and opinions required under Sections 3.01 and 3.03, the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denominations, substantially of the tenor of the definitive Securities in lieu of which
they are issued in
registered form or, if authorized, in bearer form with one or more coupons or without coupons, and with such appropriate insertions, omissions, substitutions and other variations as the officers
executing such Securities may determine, as evidenced by their execution of such Securities. In the case of any series which may be issuable as Bearer Securities, such temporary Securities may be in
global form, representing such of the Outstanding Securities of such series as shall be specified therein. 

        (b)  Unless
otherwise provided pursuant to Section 3.01: 

        (i)    Except
in the case of temporary Securities in global form, each of which shall be exchanged in accordance with the provisions of the following paragraphs, if temporary
Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities, the
temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at the office or agency of the Company in a
Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series (accompanied, if applicable, by all unmatured
coupons and all matured coupons in default appertaining thereto), the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive
Securities of such series of authorized denominations; provided, however, that no definitive Bearer Security shall be delivered in exchange for a
temporary Registered Security; and provided further that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security
only in compliance with the conditions set forth in the provisions of the third paragraph of Section 3.03. Until so exchanged, the temporary Securities of any series shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of such series. 

        (ii)  If
temporary Securities of any series are issued in global form, any such temporary Global Security shall, unless otherwise provided in such temporary Global Security,
be delivered to the London office of a depositary or common depositary (the "Common Depositary"), for the benefit of the operator of Euroclear and Clearstream, for credit to the respective accounts of
the beneficial owners of such Securities (or to such other accounts as they may direct). Upon receipt of written instructions (which need not comply with Section 1.02) signed on behalf of the
Company by any Person authorized to give such instructions, the Trustee or any Authenticating Agent shall endorse such temporary Global Security to reflect the initial principal amount, or an increase
in the principal amount, of Outstanding Securities represented thereby. Until such initial endorsement, such temporary Global Security shall not evidence any obligation of the Company. Such temporary
Global Security shall at any time represent the aggregate principal amount of Outstanding Securities theretofore endorsed thereon as provided above, subject to reduction to reflect exchanges as
described below. 

        (iii)  Unless
otherwise specified in such temporary Global Security, and subject to the second proviso in the following paragraph, the interest of a beneficial owner of
Securities of a series in a temporary Global Security shall be exchanged for definitive Securities (including a definitive Global Bearer Security) of such series and of like tenor following the Global
Exchange Date (as defined below) when the account holder instructs Euroclear or Clearstream, as the case may be, to request such exchange on his behalf and delivers to Euroclear or Clearstream, as the
case may be, 

17

 

a certificate in the form required by Section 3.11(i), dated no earlier than 15 days prior to the Global Exchange Date, copies of which certificate shall be available from the offices
of Euroclear and Clearstream, the Trustee, any Authenticating Agent appointed for such series of Securities and each Paying Agent. Unless otherwise specified in such temporary Global Security, any
such exchange shall be made free of charge to the beneficial owners of such temporary Global Security, except that a Person receiving definitive Securities must bear the cost of insurance, postage,
transportation and the like in the event that such Person does not take delivery of such definitive Securities in person at the offices of Euroclear or Clearstream. Definitive Securities in bearer
form to be delivered in exchange for any portion of a temporary Global Security shall be delivered only outside the United States. 

        (iv)  Without
unnecessary delay but in any event not later than the date specified in, or determined pursuant to the terms of, any such temporary Global Security as the
"Global Exchange Date" (the "Global Exchange Date"), the Company shall deliver to the Trustee, or, if the Trustee appoints an Authenticating Agent pursuant to Section 8.14, to any such
Authenticating Agent, definitive Securities in aggregate principal amount equal to the principal amount of such temporary Global Security, executed by the Company. Unless otherwise specified as
contemplated by Section 3.01, such definitive Securities shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, as may be specified by the Company. On
or after the Global Exchange Date, such temporary Global Security shall be surrendered by the Common Depositary to the Trustee or any such Authenticating Agent, as the Company's agent for such
purpose, to be exchanged, in whole or from time to time in part, for definitive Securities without charge and the Trustee or any such Authenticating Agent shall authenticate and deliver, in exchange
for each portion of such temporary Global Security, an equal aggregate principal amount of definitive Securities of the same series, of authorized denominations and of like tenor as the portion of
such temporary Global Security to be exchanged, which, except as otherwise specified as contemplated by Section 3.01, shall be in the form of Bearer Securities or Registered Securities, or any
combination thereof; provided, however, that, unless otherwise specified in such temporary Global
Security, upon such presentation by the Common Depositary, such temporary Global Security is accompanied by a certificate dated the Global Exchange Date or a subsequent date and signed by Euroclear as
to the portion of such temporary Global Security held for its account then to be exchanged and a certificate dated the Global Exchange Date or a subsequent date and signed by Clearstream, as to the
portion of such temporary Global Security held for its account then to be exchanged, each in the form required by Section 3.11(ii); and provided
further that a definitive Bearer Security (including a definitive global Bearer Security) shall be delivered in exchange for a portion of a temporary Global Security only in
compliance with the conditions set forth in the provisions of the third paragraph of Section 3.03. 

        (v)  Upon
any exchange of a portion of any such temporary Global Security, such temporary Global Security shall be endorsed by the Trustee or any such Authenticating Agent,
as the case may be, to reflect the reduction of the principal amount evidenced thereby, whereupon its remaining principal amount shall be reduced for all purposes by the amount so exchanged. Until so
exchanged in full, such temporary Global Security shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered
hereunder, except that, unless otherwise specified as contemplated by Section 3.01, interest payable on such temporary Global Security on an Interest Payment Date for Securities of such series
occurring prior to the applicable Global Exchange Date shall be payable, without interest, to Euroclear and Clearstream on or after such Interest Payment Date upon delivery by Euroclear and
Clearstream to the Trustee or the Paying Agent, as the case may be, of a certificate or certificates in the form required by Section 3.11(iii), for credit on or after such Interest Payment Date
to the respective accounts of the Persons who are the beneficial owners of such temporary Global Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, 

18

 

as the case may be, a certificate in the form required by Section 3.11(iv). Any interest so received by Euroclear and Clearstream and not paid as herein provided prior to the Global Exchange
Date shall be returned to the Trustee or Paying Agent, as the case may be, which, upon expiration of two years after such Interest Payment Date, shall repay such interest to the Company on Company
Request in accordance with Section 5.03. 

        SECTION
3.05.    Registration, Registration of Transfer and Exchange.    With respect to Registered Securities, the
Company shall keep or cause to be kept a register (sometimes referred to as the "Security Register") in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration of Registered Securities and the registration of transfers of Registered Securities and the Company shall appoint a "Security Registrar", and may appoint any "Co-Security
Registrar" as may be appropriate, to keep the Security Register. The Trustee is hereby initially appointed Security Registrar with respect to the series of Securities for which it is acting as
Trustee. Such Security Register shall be in written form or in any other form capable of being converted into written form within a reasonable time. At all reasonable times the information contained
in such Security Register shall be available for inspection by the Trustee at the office of the Security Registrar. In the event that any Registered Securities issued hereunder have The City of New
York as a Place of Payment, the Company shall appoint either a Security Registrar or Co-Security Registrar located in The City of New York. 

        Upon
surrender for registration of transfer of any Registered Security of any series at the office or agency of the Company maintained pursuant to Section 5.02 for such purpose in
a Place of Payment for such series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered
Securities of such series of any authorized denominations and of a like aggregate principal amount, tenor and Stated Maturity. 

        At
the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of such series, of any authorized denominations and of like aggregate
principal amount, tenor and Stated Maturity, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall
execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

        Registered
Securities may not be exchanged for Bearer Securities. Bearer Securities may not be exchanged for Bearer Securities of other authorized denominations. 

        At
the option of the Holder, Bearer Securities of any series may be exchanged for Registered Securities of the same series of any authorized denominations and of a like aggregate
principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all unmatured coupons and all matured coupons in default thereto appertaining. If
the Holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured coupon or coupons
in default, such exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company in an amount equal to the face amount of such missing coupon or
coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of
them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect of which such a payment shall have been made, such
Holder shall be entitled to receive the amount of any such payment from the Company; provided, however,
that interest represented by coupons shall be payable only upon presentation and surrender of those coupons at an office or agency of a Paying Agent, maintained pursuant to Section 5.02 for
such purpose, located outside the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such office or agency in exchange for a Registered
Security of the same series and like tenor after the close of business at such 

19

 

office or agency on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and
before the opening of business at such office or agency on the related date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such Interest
Payment Date or proposed date for payment, as the case may be. 

        Notwithstanding
any other provision of this Section, unless and until it is exchanged in whole or in part for individual Securities represented thereby, a Global Security representing
all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such
Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary. 

        Whenever
any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is
entitled to receive. 

        If
at any time the Depositary for the Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary for the Securities of such series or if at any
time the Depositary for the Securities of such series shall no longer be eligible under Section 3.03, the Company shall appoint a successor Depositary with respect to the Securities of such
series. If a successor Depositary for the Securities of such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility,
the Company's election pursuant to Section 3.01(vii) shall no longer be effective with respect to the Securities of such series and the Company will execute, and the Trustee, upon
receipt of a Company Order for the authentication and delivery of definitive Securities of such series, will authenticate and deliver Securities of such series of like tenor and terms in definitive
form in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such series in exchange for such Global Security or Securities. 

        The
Company may at any time and in its sole discretion determine that the Securities of any series issued in the form of one or more Global Securities shall no longer be represented by
such Global Security or Securities. In such event, the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of definitive Securities of such
series, will authenticate and deliver, Securities of such series of like tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of the Global Security or
Securities representing such series in exchange for such Global Security or Securities. 

        If
specified by the Company pursuant to Section 3.01 with respect to a series of Securities, the Depositary for such series of Securities may surrender a Global Security for such
series of Securities in exchange in whole or in part for Securities of such series of like tenor and terms and in definitive form on such terms as are acceptable to the Company, the Trustee and such
Depositary. Thereupon, the Company shall execute, and the Trustee upon receipt of a Company Order for the authentication and delivery of definitive Securities of such series, shall authenticate and
deliver, without service charge: 

        (a)  to
the Depositary or to each Person specified by such Depositary a new Security or Securities of the same series, of like tenor and terms and of any authorized
denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person's beneficial interest in the Global Security; and 

        (b)  to
such Depositary a new Global Security of like tenor and terms and in an authorized denomination equal to the difference, if any, between the principal amount of the
surrendered Global Security and the aggregate principal amount of Securities delivered to Holders thereof. 

20

 

        In
any exchange provided for in any of the preceding three paragraphs, the Company will execute and the Trustee, pursuant to a Company Order, will authenticate and deliver, Securities
(a) in definitive registered form in authorized denominations, if the Securities of such series are issuable as Registered Securities, (b) in definitive bearer form in authorized
denominations, with coupons attached, if the Securities of such series are issuable as Bearer Securities or (c) as either Registered or Bearer Securities, if the Securities of such series are
issuable in either form; provided, however, that no definitive Bearer Security shall be delivered in
exchange for a temporary Global Security other than in accordance with the provisions of Sections 3.03 and 3.04. 

        Upon
the exchange of Global Securities for Securities in definitive form, such Global Securities shall be cancelled by the Trustee. Registered Securities issued in exchange for a Global
Security pursuant to this Section 3.05 shall be registered in such names and in such authorized denominations, and delivered to such addresses, as the Depositary for such Global Security,
pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver such Registered Securities to the Persons in whose
names such Securities are so registered or to the Depositary. The Trustee shall deliver Bearer Securities issued in exchange for a Global Security
pursuant to this Section 3.05 to the Depositary or to the Persons at such addresses, and in such authorized denominations, as the Depositary for such Global Security, pursuant to instructions
from its direct or indirect participants or otherwise, shall instruct the Trustee in writing; provided,  however, that no definitive Bearer Security shall
be delivered in exchange for a temporary Global Security other than in accordance with the provisions
of Sections 3.03 and 3.04. 

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

        Every
Security presented or surrendered for registration of transfer or exchange shall (if so required by the Company or the Security Registrar) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. 

        Unless
otherwise provided in the Securities to be registered for transfer or exchanged, no service charge shall be made for any registration of transfer or exchange of Securities, but
the Company may (unless otherwise provided in such Securities) require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration
of transfer or exchange of Securities, other than exchanges expressly provided in this Indenture to be made at the Company's own expense or without expense or without charge to the Holders. 

        Neither
the Company, the Security Registrar nor any Co-Security Registrar shall be required (i) to issue, register the transfer of or exchange any Securities of any
series during a period beginning at the opening of business 15 days before the day of selection of Securities of such series to be redeemed and ending at the close of business on (A) if
Securities of the series are issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption of Registered Securities of such series so selected for redemption or
(B) if Securities of the series are issuable as Bearer Securities, the day of the first publication of the relevant notice of redemption or, if Securities of the series are also issuable as
Registered Securities and there is no publication, the mailing of the relevant notice of redemption, or (ii) to register the transfer or exchange of any Securities or portions thereof so
selected for redemption. 

        Notwithstanding
anything herein to the contrary, the exchange of Bearer Securities into Registered Securities shall be subject to applicable laws and regulations in effect at the time of
exchange; none of the Company, the Trustee nor the Security Registrar shall exchange any Bearer Securities into Registered Securities if it has received an Opinion of Counsel that as a result of such
exchanges the Company would suffer adverse consequences under the United States Federal income tax laws and 

21

 

regulations then in effect and the Company has delivered to the Trustee a Company Order directing the Trustee not to make such exchanges unless and until the Trustee receives a subsequent Company
Order to the contrary. The Company shall deliver copies of such Company Orders to the Security Registrar. 

        SECTION
3.06.    Mutilated, Destroyed, Lost and Stolen Securities.    If (i) any mutilated Security or Security
with a mutilated coupon is surrendered to the Trustee or the Security Registrar, or if the Company, the Trustee and the Security Registrar receive evidence to their satisfaction of the destruction,
loss or theft of any Security or coupon and (ii) there is delivered to the Company, the Trustee and the Security Registrar such security or indemnity as may be required by them to save each of
them harmless, then, in the absence of notice to the Company, the Trustee or the Security Registrar that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon
its request the Trustee shall authenticate and deliver, in lieu of any such mutilated, destroyed, lost or stolen Security or in exchange for the Security to which a mutilated, destroyed, lost or
stolen coupon appertains (with all appurtenant coupons not mutilated, destroyed, lost or stolen), a new Security of the same series and Stated Maturity and of like tenor and principal amount, bearing
a number not contemporaneously outstanding and, if applicable, with coupons corresponding to the coupons appertaining thereto; provided,  however, that any
new Bearer Security will be delivered only in compliance with the conditions set forth in Section 3.05.
 

        In
case any such mutilated, destroyed, lost or stolen Security or coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new
Security, pay such Security; provided, however, that payment of principal of (and premium, if any) and
any interest on Bearer Securities shall be payable only at an office or agency located outside the United States, and, in the case of interest, unless otherwise specified as contemplated by
Section 3.01, only upon presentation and surrender of the coupons appertaining thereto. 

        Upon
the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 

        Every
new Security of any series, with its coupons, if any, issued pursuant to this Section in lieu of any destroyed, lost or stolen Security, or in exchange for a Security with a
destroyed, lost or stolen coupon, shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security and its coupons, if any, or the
destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities
of the same series and their coupons, if any, duly issued hereunder. 

        The
provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities or coupons. 

        SECTION
3.07.    Payment of Interest; Interest Rights Preserved.    Unless otherwise provided as contemplated by
Section 3.01, interest on any Registered Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall unless otherwise provided in such Security be
paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest. Unless otherwise specified
as contemplated by Section 3.01, in case a Bearer Security of any series is surrendered in exchange for a Registered Security of such series after the close of business (at an office or agency
referred to in Section 3.05) on any Regular Record Date and before the opening of business (at such office or agency) on the next succeeding Interest Payment Date, such Bearer Security shall be
surrendered without the coupon relating to such Interest Payment Date and interest will not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such
Bearer 

22

 

Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. At the option of the Company, payment of interest on any Registered
Security may be made by check in the currency designated for such payment pursuant to the terms of such Registered Security 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 in such currency designated by such Person in writing not later than ten days prior to the date of such payment. 

        Any
interest on any Registered Security which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called "Defaulted Interest") shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of his having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in
each case, as provided in clause (i) or clause (ii) below. 

        (i)    The
Company may elect to make payments of any Defaulted Interest to the Persons in whose names any such Registered Securities (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the
date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall
fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and not less than
10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of
the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first class, postage prepaid, to each Holder at his address as it
appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having
been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Registered Securities (or their respective Predecessor Securities) are registered on such Special
Record Date and shall no longer be payable pursuant to the following clause (ii). In case a Bearer Security of any series is surrendered at the office or agency in a Place of Payment for such
series in exchange for a Registered Security of such series after the close of business at such office or agency on any Special Record Date and before the opening of business at such office
or agency on the related proposed date of payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such proposed date for payment and Defaulted Interest
will not be payable on such proposed date for payment in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due
in accordance with the provisions of this Indenture. 

        (ii)  The
Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which the
Securities with respect to which there exists such default may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed
payment pursuant to this clause, such payment shall be deemed practicable by the Trustee. 

23

  

        Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of, or in exchange for, or in lieu of, any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

        Subject
to the limitations set forth in Section 5.02, the Holder of any coupon appertaining to a Bearer Security shall be entitled to receive the interest payable on such coupon
upon presentation and surrender of such coupon on or after the Interest Payment Date of such coupon at an office or agency maintained for such purpose pursuant to Section 5.02. 

        SECTION
3.08.    Persons Deemed Owners.    Title to any Bearer Security, any coupons appertaining thereto and any
temporary Global Security shall pass by delivery. 

        Prior
to due presentment for registration of transfer of any Registered Security, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name
such Security is registered as the owner of such Security for the purpose of receiving payment of principal of, premium, if any, and (subject to Section 3.07) interest on such Security, and for
all purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

        The
Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any Bearer Security and the bearer of any coupon as the absolute owner of such Security or
coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not such Security or coupon be overdue, and neither the Company, the Trustee
nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

        None
of the Company, the Trustee, any Paying Agent, any Authenticating Agent or the Security Registrar will have the responsibility or liability for any aspect of the records relating to
or payments made on account of beneficial ownership interest of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interest, and they
shall be fully protected in acting or refraining from acting on any such information provided by the Depositary. 

        SECTION
3.09.    Cancellation.    Unless otherwise provided with respect to a series of Securities, all Securities and
coupons surrendered for payment, registration of transfer, exchange, repayment or redemption shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee. All Securities so
delivered or surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture or such Securities. All cancelled Securities or
coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures and the Trustee shall deliver a certificate of such disposition to the Company. 

        SECTION
3.10.    Computation of Interest.    Except as otherwise specified as contemplated by Section 3.01 for
Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 

        SECTION
3.11.    Form of Certification.    Unless otherwise provided pursuant to Section 3.01: 

        (i)    Whenever
any provision of this Indenture or the forms of Securities contemplate that certification be given by a Person entitled to receive a Bearer Security, such
certification shall be provided substantially in the form of Exhibit A hereto, with only such changes as shall be approved by the Company. 

        (ii)  Whenever
any provision of this Indenture or the forms of Securities contemplate that certification be given by Euroclear and Clearstream in connection with the exchange
of a portion 

24

 

of a temporary Global Security, such certification shall be provided substantially in the form of Exhibit B hereto, with only such changes as shall be approved by the Company. 

        (iii)  Whenever
any provision of the Indenture or the forms of Securities contemplate that certification be given by Euroclear and Clearstream in connection with payment of
interest with respect to a temporary Global Security prior to the related Global Exchange Date, such certification shall be provided substantially in the form of Exhibit C hereto, with only
such changes as shall be approved by the Company. 

        (iv)  Whenever
any provision of the Indenture or the forms of Securities contemplate that certification be given by a beneficial owner of a portion of a temporary Global
Security in connection with payment of interest with respect to a temporary Global Security prior to the related Global Exchange Date, such certification shall be provided substantially in the form of
Exhibit D hereto, with only such changes as shall be approved by the Company. 

        SECTION
3.12.    Judgments.    The Company may provide, pursuant to Section 3.01, for the Securities of any
series that, to the fullest extent possible under applicable law and except as may otherwise be specified as contemplated in Section 3.01, (a) the obligation, if any, of the Company to
pay the principal of (and premium, if any) and interest on the Securities of any series and any appurtenant coupons in a Foreign Currency, composite currency or Dollars (the "Designated Currency") as
may be specified pursuant to Section 3.01 is of the essence and agrees that judgments in respect of such Securities shall be given in the Designated Currency; (b) the obligation of the
Company to make payments in the Designated Currency of the principal of (and premium, if any) and interest on such Securities and any appurtenant coupons shall, notwithstanding any payment in any
other currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the Designated Currency that the Holder receiving such payment may, in accordance with
normal banking procedures, purchase with the sum paid in such other currency (after any premium and cost of exchange) in the country of issue of the Designated Currency in the case of Foreign Currency
or Dollars or in the international banking community in the case of a composite currency on the Business Day immediately following the day on which such Holder receives such payment; (c) if the
amount in the Designated Currency that may be so purchased for any reason falls short of the amount originally due, the Company shall pay such additional amounts as may be necessary to compensate for
such shortfall; and (d) any obligation of the Company not discharged by such payment shall be due as a separate and independent obligation and, until discharged as provided herein, shall
continue in full force and effect. 

        SECTION
3.13.    CUSIP Numbers.    The Company in issuing the Securities may use "CUSIP" numbers or Euroclear or
Clearstream reference numbers (if then generally in use), and if, so, the Trustee shall use such numbers in notices of redemption or other related material as a convenience to Holders;  provided that any
such notice or other related material may state that no representation is made as to the correctness of such numbers either as printed
on the Securities or as contained in any notice of redemption or other related material and that reliance may be placed only on the other identification numbers printed on the Securities, and any such
redemption shall not be affected by any defect in or omission of such numbers. 

 
 

ARTICLE FOUR    
    
    Redemption of Securities    
  

        SECTION
4.01.    Applicability of Article.    Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and, except as otherwise specified as contemplated by Section 3.01 for Securities of any series, in accordance with this Article. 

25

 

        SECTION
4.02.    Election To Redeem; Notice to Trustee.    The election of the Company to redeem any Securities
redeemable at the option of the Company shall be evidenced by an Officers' Certificate. In case of any redemption at the election of the Company of the Securities of any series, the Company shall, at
least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee in the Trustee's sole discretion), notify the Trustee and the
Security Registrar of such Redemption Date and of the principal amount of Securities of such series to be redeemed. In the case of any redemption of Securities (i) prior to the expiration of
any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, or (ii) pursuant to an election of the Company which is subject to a condition
specified in the terms of such Securities, the Company shall furnish the Trustee with an Officers' Certificate evidencing compliance with such restriction or condition. 

        SECTION
4.03.    Selection by Security Registrar of Securities To Be Redeemed.    If less than all the Securities of
any series with the same terms are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Security Registrar from
the Outstanding Securities of such series having such terms not previously called for redemption, by such method as the Security Registrar shall deem fair and appropriate and which may provide for the
selection for redemption of portions of the principal amount of Securities of such series of a denomination equal to or larger than the minimum authorized denomination for Securities of such series.
Unless otherwise provided by the terms of the Securities of any series so selected for partial redemption, the portions of the principal of Securities of such series so selected for partial redemption
shall be, in the case of Registered Securities, equal to $1,000 or an integral multiple thereof or, in the case of Bearer Securities, equal to $5,000 or an integral multiple thereof, and the principal
amount of any such Security which remains outstanding shall not be less than the minimum authorized denomination for Securities of such series. 

        The
Security Registrar shall promptly notify the Company, the Trustee and the Co-Security Registrar, if any, in writing of the Securities selected for redemption and, in the
case of any Security selected for partial redemption, the principal amount thereof to be redeemed. 

        For
all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Security redeemed or
to be redeemed only in part, to the portion of the principal of such Security which has been or is to be redeemed. 

        SECTION
4.04.    Notice of Redemption.    Notice of redemption shall be given in the manner provided in
Section 1.06, not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed. 

        All
notices of redemption shall state: 

        (i)    the
Redemption Date; 

        (ii)  the
Redemption Price; 

        (iii)  if
less than all Outstanding Securities of any series having the same terms are to be redeemed, the identification (and, in the case of partial redemption, the
respective principal amounts) of the particular Securities to be redeemed; 

        (iv)  that
on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed, and that interest, if any, thereon shall cease to
accrue on and after said date; 

        (v)  the
place or places where such Securities, together in the case of Bearer Securities with all remaining coupons appertaining thereto, if any, maturing after the
Redemption Date, are to be surrendered for payment of the Redemption Price; 

26

 

        (vi)  that
the redemption is from a sinking fund, if such is the case; and 

        (vii) the
CUSIP number or the Euroclear or the Clearstream reference number (or any other number used by a Depositary to identify such Securities), if any, of the Securities
to be redeemed. 

        A
notice of redemption published as contemplated by Section 1.06 need not identify particular Registered Securities to be redeemed. 

        Notice
of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, on Company Request, by the Trustee in the name and at the expense of
the Company. The notice if mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, a failure to give
such notice by mail or any defect in the notice to the Holder of any Security designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any
other Security. 

        SECTION
4.05.    Deposit of Redemption Price.    At or prior to the opening of business on any Redemption Date, the
Company shall deposit or cause to be deposited with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in
Section 5.03) an amount of money sufficient to pay the Redemption Price of all the Securities which are to be redeemed on that date; provided,  however,
 that deposits with respect to Bearer Securities shall be made with a Paying Agent or Paying Agents located outside the United States except as
otherwise provided in Section 5.02, unless otherwise specified as contemplated by Section 3.01. 

        SECTION
4.06.    Securities Payable on Redemption Date.    Notice of redemption having been given as aforesaid, the
Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified and from and after such date (unless the Company shall default in the
payment of the Redemption Price) such Securities shall cease to bear interest and the coupons for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided
below, shall be void. Upon surrender of any such Securities for redemption in accordance with said notice, such Securities shall be paid by the Company at the Redemption Price;  provided, however, that
installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only
at an office or agency located outside the United States and, unless otherwise specified as contemplated by Section 3.01, only upon presentation and surrender of coupons for such interest.
Installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such on the close of business on the relevant Regular Record Dates according to their terms and the provisions of Section 3.07. 

        If
any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant coupons maturing after the Redemption Date, such Security may be paid after deducting from
the Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or any
Paying Agent any such missing coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted;  provided,
however, that interest represented by coupons shall be payable only at an office or agency
located outside the United States and, unless otherwise specified as contemplated by Section 3.01, only upon presentation and surrender of those coupons. 

27

 

        If
any Security called for redemption shall not be paid upon surrender thereof for redemption, the principal shall, until paid, bear interest from the Redemption Date at the rate borne
by such Security, or as otherwise provided in such Security. 

        SECTION
4.07.    Securities Redeemed in Part.    Any Security which is to be redeemed only in part shall be
surrendered at the office or agency of the Company in a Place of Payment therefor (with, if the Company or the Security Registrar so requires, due endorsement by, or a written instrument of transfer
in form satisfactory to the Company and the Security Registrar duly executed by, the Holder of such Security or his attorney duly authorized in writing), and the Company shall execute, and the Trustee
shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and Stated Maturity, containing identical terms and conditions, of
any authorized denominations as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 

 
 

ARTICLE FIVE    
    
    Covenants    
  

        SECTION
5.01.    Payment of Principal, Premium and Interest.    The Company covenants and agrees for the benefit of
each series of Securities that it will duly and punctually pay the principal of, premium, if any, and interest on the Securities of such series in accordance with the terms of the Securities of such
series, any coupons appertaining thereto and this Indenture. Unless otherwise specified as contemplated by Section 3.01 with respect to any series of Securities, any interest due on Bearer
Securities on or before Maturity shall be payable only outside the United States upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as they
severally mature. 

        SECTION
5.02.    Maintenance of Office or Agency.    If Securities of a series are issuable only as Registered
Securities, the Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where
Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this
Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and of any change in the location, of such office or agency. If Securities of a series may be
issuable as Bearer Securities, the Company will maintain (A) in the Borough of Manhattan, The City of New York, an office or agency where any Registered Securities of that series may be
presented or surrendered for payment, where any Registered Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered for exchange
and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served, (B) subject to any laws or regulations applicable thereto, in
a Place of Payment for that series which is located outside the United States, an office or agency where Securities of that series and related coupons may be presented and surrendered for payment
(including payment of any additional amounts payable on Securities of that series pursuant to Section 5.04); provided,  however, that if the Securities
of that series are listed on The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited
or the Luxembourg Stock Exchange or any other stock exchange located outside the United States and such stock exchange shall so require, the Company will maintain a Paying Agent for the Securities of
that series in London or Luxembourg or any other required city located outside the United States, as the case may be, so long as the Securities of that series are listed on such exchange, and
(C) subject to any laws or regulations applicable thereto, in a Place of Payment for such series located outside the United States an office or agency where any Registered Securities of that
series may be surrendered for registration of transfer, where Securities of that series may be surrendered for
exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee 

28

 

of the location, and any change in the location, of any such office or agency. If at any time the Company shall fail to maintain any such required office or agency in respect of any series of
Securities or shall fail to furnish the Trustee with the address thereof, such presentations, and surrenders of Securities of that series may be made and notices and demands may be made or served at
the Principal Corporate Trust Office of the Trustee, except that Bearer Securities of that series and the related coupons may be presented and surrendered for payment (including payment of any
additional amounts payable on Bearer Securities of that series pursuant to Section 5.04) at the place specified for the purpose as contemplated by Section 3.01, and the Company hereby
appoints the Trustee as its agent to receive such respective presentations, surrenders, notices and demands. 

        Except
as otherwise provided in the form of Bearer Security of any particular series pursuant to the provisions of this Indenture, no payment of principal, premium or interest on Bearer
Securities shall be made at any office or agency of the Company in the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located
in the United States; provided, however, payment of principal of and any premium and interest
denominated in Dollars (including additional amounts payable in respect thereof) on any Bearer Security may be made at an office or agency of, and designated by, the Company located in the United
States if (but only if) payment of the full amount of such principal, premium, interest or additional amounts in Dollars at all offices outside the United States maintained for the purpose by the
Company in accordance with this Indenture is illegal or effectively precluded by exchange controls or similar restrictions and the Trustee receives an Opinion of Counsel that such payment within the
United States is legal. Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, at the option of the Holder of any Bearer Security or related coupon,
payment may be made by check in the currency designated for such payment pursuant to the terms of such Bearer Security presented or mailed to an address outside the United States or by transfer to an
account in such currency maintained by the payee with a bank located outside the United States. 

        The
Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series may be presented or surrendered for any or all of such
purposes specified above in this Section and may constitute and appoint one or more Paying Agents for the payment of such Securities, in one or more other cities, and may from time to time rescind
such designations and appointments; provided, however, that no such designation, appointment or
rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give
prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. Unless and until the Company rescinds one or more such
appointments, the Company hereby appoints the Trustee, acting through its office or agency in The City of New York, as its Paying Agent in The City of New York with respect to all series of Securities
having a Place of Payment in The City of New York. 

        SECTION
5.03.    Money for Security Payments To Be Held in Trust.    If the Company shall at any time act as its own
Paying Agent for any series of Securities, it will, on or before each due date of the principal of, premium, if any, or interest on any of the Securities of such series and any appurtenant coupons,
segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal, premium or interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. 

        Whenever
the Company shall have one or more Paying Agents for any series of Securities, it will, at or prior to the opening of business on each due date of the principal of, premium, if
any, or interest on any Securities of such series and any appurtenant coupons, deposit with a Paying Agent a sum sufficient to pay the principal, premium or interest so becoming due, such sum to be
held in trust for 

29

 

the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to
act. 

        The
Company will cause each Paying Agent other than the Trustee for any series of Securities to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee subject to the provisions of this Section, that such Paying Agent will: 

        (i)    hold
all sums held by it for the payment of principal of, premium, if any, or interest on Securities of such series and any appurtenant coupons in trust for the benefit
of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 

        (ii)  give
the Trustee notice of any default by the Company (or any other obligor upon the Securities of such series) in the making of any payment of principal, premium or
interest on the Securities of such series or any appurtenant coupons; and 

        (iii)  at
any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent. 

        The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to
pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent, and, upon such payments by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

        Any
money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest on any Security of any
series or any appurtenant coupons and remaining unclaimed for two years after such principal, premium or interest
has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security or any coupon
appertaining thereto shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however,
that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in an Authorized Newspaper in each Place of
Payment, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid to the Company. 

        SECTION
5.04.    Additional Amounts.    If the Securities of a series provide for the payment of additional amounts,
the Company will pay to the Holder of any Security of any series or any coupon appertaining thereto additional amounts as provided therein. Whenever in this Indenture there is mentioned, in any
context, the payment of the principal of (or premium, if any) or interest on, or in respect of, any Security of any series or payment of any related coupon or the net proceeds received on the sale or
exchange of any Security of any series, such mention shall be deemed to include mention of the payment of additional amounts provided for in this Section to the extent that, in such context,
additional amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of additional amounts (if applicable) in any
provisions hereof shall not be construed as excluding additional amounts in those provisions hereof where such express mention is not made. 

        If
the Securities of a series provide for the payment of additional amounts, at least 10 days prior to the first Interest Payment Date with respect to that series of Securities
(or if the Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal (and 

30

 

premium, if any) is made), and at least 10 days prior to each date of payment of principal (and premium, if any) or interest if there has been any change with respect to the matters set forth
in the below-mentioned Officers' Certificate, the Company will furnish the Trustee and the Company's Principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers' Certificate
instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of (and premium, if any) or interest on the Securities of that series shall be made to Holders of
Securities of that series or any related coupons who are United States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of
that series. If any such withholding shall be required, then such Officers' Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of
Securities or coupons and the Company will pay to the Trustee or such Paying Agent the additional amounts required by this Section. The Company covenants to indemnify the Trustee and any Paying Agent
for, and to hold them harmless against, any loss, liability or reasonable expense incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted
by any of them in reliance on any Officers' Certificate furnished pursuant to this Section. 

        SECTION
5.05.    Statement as to Compliance.    The Company will deliver to the Trustee, within 120 days after
the end of each fiscal year of the Company, commencing with the first calendar year following the issuance of Securities of any series under this Indenture, an Officers' Certificate (which need not
comply with Section 1.02) (provided, however, that one of the signatories of which shall be the
Company's principal executive officer, principal financial officer or principal accounting officer) covering the preceding calendar year (or portion thereof) stating, as to each signer thereof, that: 

        (i)    a
review of the activities of the Company during such year and of performance under this Indenture and under the terms of the Securities has been made under his
supervision; and 

        (ii)  to
the best of his knowledge, based on such review, (a) the Company has fulfilled all its obligations and complied with all conditions and covenants under this
Indenture and under the terms of the Securities throughout such year, in all material respects, or, if there has been a default in the fulfillment of any such obligation, condition or covenant
specifying each such default known to him and the nature and status thereof, and (b) no event has occurred and is occurring which is, or after notice or lapse of time or both would become, an
Event of Default, or if such an event has occurred and is continuing, specifying such event known to him and the nature and status thereof. 

        For
purposes of this Section, compliance or default shall be determined without regard to any period of grace or requirement of notice provided for herein. 

        SECTION
5.06.    Maintenance of Corporate Existence, Rights and Franchises.    So long as any of the Securities shall
be Outstanding, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights and franchises to carry on its business;  provided, however, that nothing in this Section 5.06 shall (i) require the Company to
preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in any material respect to the Holders, (ii) prevent any consolidation or merger of the Company, or any conveyance or transfer of its property and assets
substantially as an entirety to any person, permitted by Article Ten, or (iii) prevent the liquidation or dissolution of the Company after any conveyance or transfer of its property and assets
substantially as an entirety to any person permitted by Article Ten. 

31

  

        SECTION 5.07.    Limitation on Disposition of Stock of Banks.    So long as any Securities shall be Outstanding,
neither the Company nor any Intermediate Subsidiary (as hereinafter defined) will (except to the Company or an Intermediate Subsidiary) sell, assign, transfer, grant a security interest in or
otherwise dispose of any shares of, securities convertible into, or options, warrants or rights to subscribe for or purchase shares of voting stock of City National Bank (the "Bank"), nor will the
Company or any Intermediate Subsidiary permit the Bank to issue (except to the Company or an Intermediate Subsidiary) any shares of, or securities convertible into, or options, warrants or rights to
subscribe for or purchase shares of, voting stock of the Bank, nor will the Company permit any Intermediate Subsidiary that owns any shares of, or securities convertible into, or options, warrants or
rights to subscribe for or purchase shares of, voting stock of the Bank to cease to be an Intermediate Subsidiary (unless, after giving effect thereto, the Company and all Intermediate Subsidiaries
taken together shall continue to own at least 80% of the voting stock of the Bank then issued and outstanding), except that (i) the Company or an Intermediate Subsidiary may make any such sale,
assignment, transfer, or grant of a security interest or other disposition for fair market value on the date thereof, as determined by the Board of Directors of the Company or such Intermediate
Subsidiary, as the case may be (which determination shall be conclusive), and evidenced by a duly adopted resolution thereof, and (ii) in each such case, after giving effect thereto, the
Company and any one or more Intermediate Subsidiaries will own at least 80% of the voting stock of the Bank then issued and outstanding free and clear of any security interest. Notwithstanding the
foregoing, the Bank may be merged into or consolidated with another banking institution organized under the laws of the United States, any State thereof or the District of Columbia, if after giving
effect to such merger or consolidation the Company and any one or more Intermediate Subsidiaries own at least 80% of the voting stock of such other banking institution and immediately after giving
effect thereto and treating any such resulting bank thereafter as the Bank for purposes of this Indenture, no Event of Default, and no event which, after notice or lapse of time or both, would become
an Event of Default, shall have happened and be continuing. For purposes of this Section, an "Intermediate Subsidiary" means a Subsidiary (i) that is organized under the laws of the United
States, any State thereof or the District of Columbia, and (ii) of which all the shares of each class of capital stock issued and outstanding, and all securities convertible into, and options,
warrants and rights to subscribe for or purchase shares of, such capital stock, are owned directly or indirectly by the Company, free and clear of any security interest. 

        The
provisions of this Section 5.07 shall not prohibit the Company from consolidating with or merging into any other Person or from conveying, transferring or leasing the
Company's properties and assets substantially as an entirety to any Person as otherwise permitted pursuant to Article Ten. 

        SECTION
5.08.    Waiver of Covenants.    The Company may omit in any particular instance to comply with any term,
provision or condition set forth in Sections 5.06 or 5.07 with respect to the Securities of any series if before the time for such compliance the Holders of at least 50% in principal amount of the
Outstanding Securities of that series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition (but no such
waiver
shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of
the Trustee for such series in respect of any such term, provision or condition shall remain in full force and effect). 

 
 

ARTICLE SIX    
    
    Holders' Lists and Reports by Trustee and Company    
  

        SECTION
6.01.    Company To Furnish Trustee Names and Addresses of Holders.    The Company will furnish or cause to be
furnished to the Trustee (i) semiannually, not more than 15 days after each February 1 and August 1, a list, in such form as the Trustee may reasonably require, containing
all the information in the possession or control of the Company, any of its Paying Agents (other than the 

32

 

Trustee) or the Security Registrar, if other than the Trustee, as to the names and addresses of the Holders of Securities as of such February 1 and August 1, and (ii) at such
other times as the Trustee may request in writing, within 30 days after receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days
prior to the time such list is requested to be furnished; provided, however, that if and so long as the
Trustee is the Security Registrar for Securities of a series, no such list need be furnished with respect to such series of Securities. 

        SECTION
6.02.    Preservation of Information; Communications to Holders.    (i) The Trustee shall preserve, in
as current a form as is reasonably practicable, the names and addresses of Holders of Securities contained in the most recent list furnished to the Trustee as provided in Section 6.01 and the
names and addresses of Holders of Securities received by the Trustee in its capacity as the Security Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in
Section 6.01 upon receipt of a new list so furnished. 

        (ii)  If
three or more Holders of Securities of any series (hereinafter referred to as "applicants") apply in writing to the Trustee, and furnish to the Trustee reasonable
proof that each such applicant has owned a Security of such series for a period of at least six months preceding the date of such application, and such application states that the applicants desire to
communicate with other Holders of Securities of such series or with the Holders of all Securities with respect to their rights under this Indenture or under such Securities and is accompanied by a
copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election,
either: 

        (a)  afford
such applicants access to the information preserved at the time by the Trustee in accordance with Section 6.02(i); or 

        (b)  inform
such applicants as to the approximate number of Holders of Securities of such series or all Securities, as the case may be, whose names and addresses appear in
the information preserved at the time by the Trustee in accordance with Section 6.02(i), and as to the approximate cost of mailing to such Holders the form of proxy or other communication, if
any, specified in such application. 

        If
the Trustee shall elect not to afford such applicants access to such information, the Trustee shall, upon the written request of such applicants, mail to each Holder of a Security of
such series or all Holders of Securities, as the case may be, whose names and addresses appear in the information preserved at the time by the Trustee in accordance with Section 6.02(i), a copy
of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for
the payment, of the reasonable expenses of mailing, unless, within five days after such tender, the Trustee shall mail to such applicants and file with the Commission, together with a copy of the
material to be mailed, a written statement to the effect that, in the opinion of the Trustee, such mailing would be contrary to the best interests of the Holders of Securities of such series or all
Securities, as the case may be, or would be in violation of applicable law. Such written statement shall specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the
objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or more of such objections,
the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met and shall enter an order so declaring, the Trustee shall mail copies of such
material to all such Holders of Securities with reasonable promptness after the entry of such order and the renewal of such tender; otherwise, the Trustee shall be relieved of any obligation or duty
to such applicants respecting their application. 

        (iii)  Every
Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee shall be held
accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in 

33

 

accordance with Section 6.02(ii), regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material
pursuant to a request made under Section 6.02(ii). 

        SECTION
6.03.    Reports by Trustee.    (i) Within 60 days after May 15 of each year commencing
with the year 2003 the Trustee shall mail to each Holder reports concerning the Trustee and its action under the Indenture as may be required pursuant to Section 313(a) of the Trust Indenture
Act if and to the extent and in the manner provided pursuant thereto. The Trustee shall also comply with the other provisions of Section 313 of the Trust Indenture Act. 

        (ii)  Reports
pursuant to this Section shall be transmitted by mail (1) to all Holders of Registered Securities, as their names and addresses appear in the Security
Register and (2) to such Holders of Bearer Securities as have, within the two years preceding such transmission, filed their names and addresses with the Trustee for that purpose, and
(3) except in the cases of reports under Section 313(b)(2) of the Trust Indenture Act, to each Holder of a Security of any series whose name and address appear in the information
preserved at the time by the Trustee in accordance with Section 6.02(i). 

        (iii)  A
copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each securities exchange upon which any Securities are
listed, and also with the Commission. The Company will notify the Trustee when any Securities are listed on any securities exchange. 

        SECTION
6.04.    Reports by Company.    The Company will: 

        (i)    file
with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information,
documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to file
with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of said
Sections, then it will file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic
information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered on a national securities exchange as may be
prescribed from time to time in such rules and regulations; 

        (ii)  file
with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information,
documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 

        (iii)  transmit
by mail to Holders of Securities, in the manner and to the extent provided in Section 6.03(ii), within 30 days after the filing thereof with the
Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (i) and (ii) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission. 

 
 

ARTICLE SEVEN    
    
    Remedies    
  

        SECTION
7.01.    Events of Default.    "Event of Default", with respect to any series of Securities, wherever used
herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant 

34

 

to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body), unless it is either inapplicable to a particular series or it is
specifically deleted or modified in the supplemental indenture or Board Resolution under which such series of Securities is issued or in the form of Security for such series: 

        (i)    default
in the payment of any interest upon any Security of that series when it becomes due and payable, and continuance of such default for a period of 30 days;
or 

        (ii)  default
in the payment of the principal of (or premium, if any, on) any Security of that series at its Maturity; or 

        (iii)  default
in the performance, or breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance
or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series of Securities other than that series), and
continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the
Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such
notice is a "Notice of Default" hereunder; or 

        (iv)  the
entry of a decree or order by a court having jurisdiction in the premises granting relief in respect of the Company in an involuntary case under the Federal
Bankruptcy Code, adjudging the Company a bankrupt, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under the
Federal Bankruptcy Code or any other applicable Federal or State bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, custodian, assignee, trustee, sequestrator (or other
similar official) of the Company, or of
substantially all of its properties, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days; or 

        (v)  the
institution by the Company of proceedings to be adjudicated a bankrupt, or the consent of the Company to the institution of bankruptcy proceedings against it, or the
filing by the Company of a petition or answer or consent seeking reorganization or relief under the Federal Bankruptcy Code or any other applicable Federal or State bankruptcy, insolvency or similar
law, or the consent by the Company to the filing of any such petition or to the appointment of a receiver, liquidator, custodian, assignee, trustee, sequestrator (or other similar official) of the
Company or of substantially all of its properties; or 

        (viii)  any
other Event of Default provided with respect to Securities of that series. 

        SECTION
7.02.    Acceleration of Maturity; Rescission and Annulment.    If an Event of Default with respect to any
series of Securities for which there are Securities Outstanding occurs and is continuing, then, and in every such case, the Trustee or the Holders of not less than 25% in principal amount of the
Outstanding Securities of such series may declare the principal of all the Securities of such series (or, if the Securities of that series are Original Issue Discount Securities, such portion of the
principal amount as may be specified in the terms of that series) to be immediately due and payable, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such
declaration the same shall become immediately due and payable. 

        At
any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained
by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of such series, by written notice to the Company and the Trustee,
may rescind 

35

 

and annul such declaration and its consequences, and any Event of Default giving rise to such declaration shall not be deemed to have occurred, if: 

        (i)    the
Company has paid or deposited with the Trustee a sum sufficient to pay: 

        (a)  all
overdue installments of interest on all Securities of such series; 

        (b)  the
principal of and premium, if any, on any Securities of such series which have become due otherwise than by such declaration of acceleration and interest thereon at
the rate or rates prescribed therefor by the terms of the Securities of such series; 

        (c)  to
the extent that payment of such interest is lawful, interest upon overdue installments of interest at the rate or rates prescribed therefor by the terms of the
Securities of such series; and 

        (d)  all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, the Security Registrar, any
Paying Agent, and their agents and counsel and all other amounts due the Trustee under Section 8.07; and 

        (ii)  all
Events of Default with respect to Securities of that series, other than the nonpayment of the principal of Securities of that series which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 7.13. 

        No
such rescission shall affect any subsequent default or impair any right consequent thereon. 

        SECTION
7.03.    Collection of Indebtedness and Suits for Enforcement by Trustee.    The Company covenants that if: 

        (i)    default
is made in the payment of any installment of interest on any Security of any series when such interest becomes due and payable and such default continues for a
period of 30 days; or 

        (ii)  default
is made in the payment of the principal of or premium, if any, on any Security of any series at the Maturity thereof; 

the
Company will, upon demand of the Trustee, pay to it, for the benefit of the Holder of any such Security or coupon appertaining thereto, if any, the whole amount then due and payable on any such
Security or coupon for principal, premium, if any, and interest, with interest upon the overdue principal and premium, if any, and (to the extent that payment of such interest shall be lawful) upon
overdue installments of interest, at the rate or rates prescribed therefor by the terms of any such Security; and, in addition thereto, such further amount as shall be sufficient to cover the
reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee
under Section 8.07. 

        If
the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the
collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon such Securities and
collect the moneys adjudged
or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated. 

        If
an Event of Default with respect to any series of Securities occurs and is continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of
the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement
of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

36

 

        SECTION
7.04.    Trustee May File Proofs of Claim.    In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the
Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of any Securities shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal, premium, if any, or interest) shall be entitled and empowered, by
intervention in such proceeding or otherwise: 

        (i)    to
file and prove a claim for the whole amount of principal, premium, if any, and interest owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel and any other amounts due the Trustee under Section 8.07) and of the Holders allowed in such judicial proceeding; and 

        (ii)  to
collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; 

and
any receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in
the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 8.07. 

        Nothing
herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder of a Security or coupon any plan of
reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a Security or coupon in any such
proceeding. 

        SECTION
7.05.    Trustee May Enforce Claims Without Possession of Securities.    All rights of action and claims under
this Indenture or under the Securities of any series, or coupons (if any) appertaining thereto, may be prosecuted and enforced by the Trustee without the possession of any of the Securities of such
series or coupons appertaining thereto or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an
express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any
other amounts due the Trustee under Section 8.07, be for the ratable benefit of the Holders of the Securities of such series and coupons appertaining thereto in respect of which such judgment
has been recovered. 

        SECTION
7.06.    Application of Money Collected.    Any money collected by the Trustee with respect to a series of
Securities pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee, and, in case of the distribution of such money on account of principal, premium,
if any, or interest, upon presentation of the Securities of such series or coupons appertaining thereto, if any, or both, as the case may be, and the notation thereon of the payment if only partially
paid and upon surrender thereof if fully paid: 

        FIRST:    To
the payment of all amounts due the Trustee under Section 8.07; 

        SECOND:    To
the payment of the amounts then due and unpaid upon the Securities of such series and coupons for principal, premium, if any, and interest, in respect of which or
for the benefit of which such money has been collected, ratably, without preference or priority of any kind, 

37

 

according to the amounts due and payable on Securities of such series and coupons, if any, for principal, premium, if any, and interest, respectively. The Holders of each series of Securities
denominated in any composite currency or a Foreign Currency and any matured coupons relating thereto shall be entitled to receive a ratable portion of the amount determined by the Exchange Rate Agent
by converting the principal amount Outstanding of such series of Securities and matured but unpaid interest on such series of Securities in the currency in which such series of Securities is
denominated into Dollars at the Exchange Rate as of the Business Day immediately preceding the date of payment; and 

        THIRD:    The
balance, if any, to the Person or Persons entitled thereto. 

        SECTION
7.07.    Limitation on Suits.    No Holder of any Security of any series or any related coupons shall have any
right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 

        (i)    such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to Securities of such series; 

        (ii)  the
Holders of not less than a majority in principal amount of the Outstanding Securities of such series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

        (iii)  such
Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request; 

        (iv)  the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

        (v)  no
direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount
of the Outstanding Securities of such series; 

it
being understood and intended that no one or more Holders of Securities of such series shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture
to affect, disturb or prejudice the rights of any other Holders of Securities of such series or to obtain or to seek to obtain priority or preference over any other such Holders or to enforce any
right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all the Holders of Securities of such series. 

        SECTION
7.08.    Unconditional Right of Holders To Receive Principal, Premium and Interest.    Notwithstanding any
other provision in this Indenture, the Holder of any Security or coupon shall have the right, which is absolute and unconditional, to receive payment of the principal of, premium, if any, and (subject
to Section 3.07) interest on such Security or payment of such coupon on the respective Stated Maturities expressed in such Security or coupon (or, in the case of redemption or repayment, on the
Redemption Date or Repayment Date) and to institute suit for the enforcement of such payment, and such rights shall not be impaired without the consent of such Holder. 

38

  

        SECTION 7.09.    Restoration of Rights and Remedies.    If the Trustee or any Holder of a Security or coupon has
instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or
to such Holder, then and in every such case the Company, the Trustee and the Holders shall, subject to any determination in such proceeding, be restored severally and respectively to their former
positions hereunder, and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

        SECTION
7.10.    Rights and Remedies Cumulative.    Except as otherwise provided with respect to the replacement or
payment of mutilated, lost, destroyed or stolen Securities or coupons in the last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the
Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. 

        SECTION
7.11.    Delay or Omission Not Waiver.    No delay or omission of the Trustee or of any Holder of any Security
or coupon to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every
right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the
case may be. 

        SECTION
7.12.    Control by Holders.    The Holders of a majority in principal amount of the Outstanding Securities of
any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with
respect to the Securities of such series; provided that: 

          (i)  such
direction shall not be in conflict with any rule of law or with this Indenture; 

        (ii)  the
Trustee shall not determine that the action so directed would be unjustly prejudicial to the Holders not taking part in such direction; 

        (iii)  subject
to the provisions of Section 8.01, the Trustee shall have the right to decline to follow any such direction if the Trustee in good faith shall, by a
Responsible Officer or Officers of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability; and 

        (iv)  the
Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction. 

        SECTION
7.13.    Waiver of Past Defaults.    The Holders of a majority in principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder and its consequences, except a default not theretofore cured: 

          (i)  in
the payment of the principal of, premium, if any, or interest on any Security of such series; or 

        (ii)  in
respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of
such series affected. 

        Upon
any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of the Securities of such series
under 

39

 

this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

        SECTION
7.14.    Undertaking for Costs.    All parties to this Indenture agree, and each Holder of any Security by his
acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the
Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys' fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of
Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any series, or to any suit instituted by any Holder of Securities or coupons for the enforcement of
the payment of the principal of, premium, if any, or interest on any Security or payment of any coupon on or after the respective Stated Maturities expressed in such Security or coupon (or, in the
case of redemption or repayment, on or after the Redemption Date or Repayment Date). 

        SECTION
7.15.    Waiver of Stay or Extension Laws.    The Company covenants (to the extent that it may lawfully do so)
that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in
force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law,
and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had
been enacted. 

 
 

ARTICLE EIGHT    
    
    The Trustee    
  

        SECTION
8.01.    Certain Duties and Responsibilities.    (i) Except during the continuance of an Event of
Default with respect to any series of Securities: 

        (a)  the
Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture with respect to Securities of such series, and no
implied covenants or obligations shall be read into this Indenture against the Trustee with respect to such series; and 

        (b)  in
the absence of bad faith on its part, the Trustee may conclusively rely with respect to such series, as to the truth of the statements and the correctness of the
opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificate or opinions which by
any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform as to form to the
requirements of the Indenture. 

        (ii)  In
case an Event of Default with respect to any series of Securities has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in
it by this Indenture with respect to such series, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of his
or her own affairs. 

        (iii)  No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own
willful misconduct, except that: 

        (a)  this
Subsection shall not be construed to limit the effect of Subsection (i) of this Section; 

40

 

        (b)  the
Trustee shall not be liable for any error or judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in
ascertaining the pertinent facts; 

        (c)  the
Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of the Holders of
a majority in principal amount of the Outstanding Securities of any series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred upon the Trustee, under this Indenture with respect to Securities of such series; and 

        (d)  no
provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability
is not reasonably assured to it. 

        (iv)  Whether
or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the
Trustee shall be subject to the provisions of this Section. 

        SECTION
8.02.    Notice of Default.    Within 90 days after the occurrence of any default hereunder with
respect to Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series entitled to receive reports pursuant to Section 6.03(ii) notice of
such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided,  however, that, except in the case of a default
in the payment of the principal of, premium, if any, or interest on any Security of such series, or any
related coupons or in the payment of any sinking fund installment with respect to Securities of such series the Trustee shall be protected in withholding such notice if and so long as the board of
directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the
Holders of Securities of such series; and provided further that in the case of any default of the character specified in
Section 7.01(iii) with respect to Securities of such series, no such notice to Holders of Securities of such series shall be given until at least 90 days after the occurrence
thereof. For the purpose of this Section, the term "default", with respect to Securities of any series, means any event which is, or after notice or lapse of time, or both, would become, an Event of
Default with respect to Securities of such series. 

        SECTION
8.03.    Certain Rights of Trustee.    Except as otherwise provided in Section 8.01: 

          (i)  the
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, note or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

        (ii)  any
request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order and any resolution of the Board of
Directors may be sufficiently evidenced by a Board Resolution; 

        (iii)  whenever
in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers' Certificate; 

41

 

        (iv)  the
Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any
action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

        (v)  the
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders
pursuant to this Indenture, unless such Holders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; 

        (vi)  the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, bond, security or other paper or document, but the Trustee, in its discretion, may make further inquiry or investigation into such facts or matters as it
may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent
or attorney and, if so requested to do so by any of the Holders, at the sole cost and expense of the Holders; 

      (vii)  the
Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee
shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

      (viii)  the
Trustee shall not be charged with knowledge of any default (as defined in Section 8.02) or Event of Default unless either (1) a Responsible Officer
of the Trustee shall have actual knowledge of such default or Event of Default or (2) written notice of such default or Event of Default shall have been given to the Trustee by the Company or
any Holder; 

        (ix)  the
Trustee shall not be liable for any action taken, suffered or omitted by it in good faith and reasonably believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Indenture; and 

        (x)  in
the event that the Trustee is also acting as Paying Agent, Authenticating Agent or Security Registrar hereunder, the rights and protections afforded to the Trustee
pursuant to this Article Eight shall also be afforded to such Paying Agent, Authenticating Agent or Security Registrar. 

        SECTION
8.04.    Not Responsible for Recitals or Issuance of Securities.    The recitals contained herein and in the
Securities, except the Trustee's certificates of authentication, shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes responsibility for their
correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the
Company of Securities or the proceeds thereof. 

        SECTION
8.05.    May Hold Securities.    The Trustee, any Authenticating Agent, any Paying Agent, the Security
Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 8.08 and 8.13, may otherwise deal with the
Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 

        SECTION
8.06.    Money Held in Trust.    Money held by the Trustee in trust hereunder need not be segregated from
other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 

42

 

        SECTION
8.07.    Compensation and Reimbursement.    The Company agrees: 

          (i)  to
pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which compensation shall not be limited by any provision of
law in regard to the compensation of a trustee of an express trust); 

        (ii)  except
as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the
Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement
or advance as may be attributable to its negligence or bad faith; and 

        (iii)  to
indemnify the Trustee for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on its part, arising out of or
in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or performance of
any of its powers or duties hereunder. 

        As
security for the performance of the obligations of the Company under this Section the Trustee shall have a lien prior to the Securities upon all property and funds held or collected
by the Trustee as such, except funds held in trust for the payment of principal of, premium, if any, or interest on particular Securities. 

        Without
prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses or renders services in connection with an Event of Default specified
in Section 7.01(iv) or (v), the expenses (including the reasonable fees and expenses of its counsel) and the compensation for the services are intended to constitute expenses of
administration under any applicable bankruptcy, insolvency or other similar law. 

        The
obligations of the Company set forth in this Section 8.07 and any lien arising hereunder shall survive the resignation or removal of any Trustee, the discharge of the
Company's obligations pursuant to Article Eleven of this Indenture and the termination of this Indenture and the repayment of the Securities whether at the Stated Maturity or otherwise. 

        SECTION
8.08.    Disqualification; Conflicting Interests.    If the Trustee has or shall acquire a conflicting
interest within the meaning of Section 310 of the Trust Indenture Act, the Trustee shall either eliminate such conflicting interest or resign, to the extent and in the manner provided by, and
subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest with
respect to the Securities of any series by virtue of being Trustee with respect to the Securities of any particular series of Securities other than that series. 

        SECTION
8.09.    Corporate Trustee Required; Eligibility.    There shall at all times be a Trustee with respect to
each series of Securities hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized
under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision or examination by Federal or State authority;  provided,
however, that if Section 310(a) of the Trust Indenture Act or the rules and regulations
of the Commission under the Trust Indenture Act at any time permit a corporation organized and doing business under the laws of any other jurisdiction to serve as trustee of an indenture qualified
under the Trust Indenture Act, this Section 8.09 shall be automatically deemed amended to permit a corporation organized and doing business under the laws of any such jurisdiction to serve as
Trustee hereunder. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and 

43

 

surplus as set forth in its most recent report of condition so published. Neither the Company nor any person directly or indirectly controlling, controlled by or under common control with the Company
may serve as Trustee. If at any time the Trustee with respect to any series of Securities shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article. 

        SECTION
8.10.    Resignation and Removal; Appointment of Successor.    (i) No resignation or removal of the
Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee under Section 8.11. 

        (ii)  The
Trustee may resign with respect to any series of Securities at any time by giving written notice thereof to the Company. If an instrument of acceptance by a
successor Trustee shall not have been delivered to the resigning Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to Securities of such series. 

        (iii)  The
Trustee may be removed with respect to any series of Securities at any time by Act of the Holders of a majority in principal amount of the Outstanding Securities
of such series, delivered to the Trustee and to the Company. 

        (iv)  If
at any time: 

        (a)  the
Trustee shall fail to comply with Section 8.08 with respect to any series of Securities after written request therefor by the Company or by any Holder who has
been a bona fide Holder of a Security of such series for at least six months; or 

        (b)  the
Trustee shall cease to be eligible under Section 8.09 with respect to any series of Securities and shall fail to resign after written request therefor by the
Company or by any Holder of Securities of such series; or 

        (c)  the
Trustee shall become incapable of acting with respect to any series of Securities or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its
property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation; 

then,
in any such case, (1) the Company by a Board Resolution may remove the Trustee with respect to such series, or (2) subject to Section 7.14, any Holder who has been a bona
fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor Trustee with respect to such series. 

        (v)  If
the Trustee shall resign, be removed or become incapable of acting with respect to any series of Securities, or if a vacancy shall occur in the office of Trustee with
respect to any series of Securities for any cause, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it
being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect
to the Securities of any particular series) and shall comply with the applicable requirements of Section 8.11. If, within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee with respect to such series of Securities shall be appointed by the Act of the Holders of a majority in principal amount of the Outstanding Securities
of such series delivered to the Company and the retiring Trustee with respect to such series, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the
successor Trustee with respect to such series and to that extent supersede the successor Trustee appointed by the Company with respect to such series. If no successor Trustee with respect to such
series shall have been so appointed by the Company or the 

44

 

Holders of Securities of such series and accepted appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Security of such series for at least six months may,
on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series. 

        (vi)  The
Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor
Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Registered Securities of such series as their names
and addresses appear in the Security Register and, if Securities of such series are issuable as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of
Payment for the Securities of such series located outside the United States. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address
of its Principal Corporate Trust Office. 

        SECTION
8.11.    Acceptance of Appointment by Successor.    (i) In the case of the appointment hereunder of a
successor Trustee with respect to any series of Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument
accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective with respect to all or any series as to which it is resigning as Trustee, and such
successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to all or any such series; but,
on request of the Company or such successor Trustee, such retiring Trustee shall upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights,
powers and trusts of such retiring Trustee with respect to all or any such series; and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring
Trustee hereunder with respect to all or any such series, subject nevertheless to its lien, if any, provided for in Section 8.07. 

        (ii)  In
case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and
each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and
which (a) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (b) if the retiring Trustee is not retiring with respect to
all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities
of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (c) shall add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental
indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or
trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to
the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee
with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall
duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates, subject nevertheless to its lien, if any, provided for in Section 8.07. 

        (iii)  Upon
request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor
Trustee all such rights, powers and trusts referred to in paragraph (i) or (ii) of this Section, as the case may be. 

        (iv)  No
successor Trustee with respect to a series of Securities shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified
and eligible with respect to such series under this Article. 

45

  

        SECTION 8.12.    Merger, Conversion, Consolidation or Succession to Business of Trustee.    Any corporation into
which
the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any
corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder (provided that such corporation shall be otherwise
qualified and eligible under this Article), without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

        SECTION
8.13.    Preferential Collection of Claims Against Company.    If and when the Trustee shall be or become a
creditor of the Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of Section 311 of the Trust Indenture Act regarding the collection of any
claims as a creditor against the Company (or any such other obligor). A Trustee that has resigned or been removed shall be subject to and comply with said Section 311 to the extent required
thereby. 

        SECTION
8.14.    Appointment of Authenticating Agents.    The Trustee may appoint an Authenticating Agent or Agents,
which may include any Affiliate of the Company, with respect to one or more series of Securities. Such Authenticating Agent or Agents at the option of the Trustee shall be authorized to act on behalf
of the Trustee to authenticate Securities of such series issued upon original issuance, exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Whenever reference is
made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee's certificate of authentication or the delivery of Securities to the Trustee for authentication,
such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent, a certificate of authentication executed on behalf of the Trustee by an
Authenticating Agent and delivery of Securities to the Authenticating Agent on behalf of the Trustee. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a
corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent,
having a combined capital and surplus of not less than $5,000,000 and subject to supervision or examination by Federal or State authority. Notwithstanding the foregoing, an Authenticating Agent
located outside the United States may be appointed by the Trustee if previously approved in writing by the Company and if such Authenticating Agent meets the minimum capitalization requirements of
this Section 8.14. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign
immediately in the manner and with the effect specified in this Section. 

        The
Trustee shall initially act as Authenticating Agent located within the United States for each series of Securities issued hereunder. 

        Any
corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent (provided such corporation shall be otherwise eligible under this Section), without the execution or filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent. 

46

 

        An
Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time (and upon request by the Company shall)
terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such termination,
or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be
acceptable to the Company. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with
like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 

        If
an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to the Trustee's certificate
of authentication, an alternate certificate of authentication in the following form: 

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

	 	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee,
	

 	
 	

by	

 
	 	 	 	
 as Authenticating Agent
	

 	
 	

by	

 
	 	 	 	
 Authorized Signatory

Date:

 
 

ARTICLE NINE    
    
    Supplemental Indentures    
  

        SECTION
9.01.    Supplemental Indentures Without Consent of Holders.    Without the consent of any Holder of any
Securities or coupons, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, for any of the
following purposes: 

          (i)  to
evidence the succession of another corporation or Person to the Company, and the assumption by any such successor of the covenants of the Company herein and in the
Securities; or 

        (ii)  to
evidence and provide for the acceptance of appointment by another corporation as a successor Trustee hereunder with respect to one or more series of Securities and
to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to
Section 8.11; or 

        (iii)  to
add to the covenants of the Company, for the benefit of the Holders of Securities of all or any series of Securities or coupons (and if such covenants are to be for
the benefit of less than all series of
Securities or coupons, stating that such covenants are expressly being included solely for the benefit of such series), or to surrender any right or power herein conferred upon the Company; or 

        (iv)  to
cure any ambiguity, defect or inconsistency; or 

47

 

        (v)  to
add any additional Events of Default with respect to all or any series of the Securities (and, if such Event of Default is applicable to less than all series of
Securities, specifying the series to which such Event of Default is applicable); or 

        (vi)  to
add to, change or eliminate any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal, to change or eliminate any
restrictions on the payment of principal of (or premium, if any) or any interest on Bearer Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer
Securities to be issued in exchange for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form;  provided any such action shall
not adversely affect the interests of the Holders of Securities of any series or any related coupons in any material
respect; or 

      (vii)  to
add to, change or eliminate any of the provisions of this Indenture; provided that any such addition, change or
elimination (a) shall become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture the interests of the Holders of
which (or of the related coupons of which) is adversely affected in any material respect by such change in or elimination of such provision or (b) shall not apply to any Securities Outstanding;
or 

      (viii)  to
establish the form or terms of Securities of any series as permitted by Sections 2.02 and 3.01; or 

        (ix)  to
add to or change any provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities convertible into other
securities; or 

        (x)  to
evidence any changes to Section 8.09 as permitted by the terms thereof; or 

        (xi)  to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee; or 

      (xii)  to
add to or change or eliminate any provision of this Indenture as shall be necessary or desirable in accordance with any amendments to the Trust Indenture Act;  provided such action shall not adversely
affect the interest of Holders of Securities of any series or any appurtenant coupons in any material respect.
 

        SECTION
9.02.    Supplemental Indentures With Consent of Holders.    With the consent of the Holders of not less than
a majority in aggregate principal amount of the Outstanding Securities of all series affected by such supplemental indenture or indentures (acting as one class), by Act of said Holders delivered to
the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of each such series and any related coupons
under this Indenture; provided, however, that no such supplemental indenture shall, without the consent
of the Holder of each Outstanding Security affected thereby: 

          (i)  change
the Stated Maturity of the principal of, or the Stated Maturity of any installment of interest (or premium, if any) on, any Outstanding Security, or reduce the
principal amount thereof or any premium thereon or the rate of interest thereon, or change the obligation of the Company to pay additional amounts pursuant to Section 5.04 (except as
contemplated by Section 10.01(i) and permitted by Section 9.01), or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 7.02, or change the method of calculating interest thereon or the coin or currency in which any Outstanding Security (or
premium, if any, thereon) or the interest thereon is payable, or reduce the minimum rate of interest thereon, or impair the right to institute suit for the enforcement of any such payment on or after
the Stated Maturity 

48

 

thereof (or, in the case of redemption or repayment, on or after the Redemption Date or Repayment Date); 

        (ii)  reduce
the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture or
the consent of whose Holders is required for any waiver of certain defaults hereunder and their consequences) provided for in this Indenture or reduce the requirements of Section 15.04 for a
quorum; 

        (iii)  change
any obligation of the Company to maintain an office or agency in the places and for the purposes specified in Section 5.02; or 

        (iv)  modify
any of the provisions of this Section or Section 7.13, except to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived. 

        A
supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular
series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Securities of any other series. 

        It
shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall
approve the substance thereof. 

        SECTION
9.03.    Execution of Supplemental Indentures.    In executing, or accepting the additional trusts created by,
any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to
Section 8.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by and complies with this
Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee's own rights, liabilities, duties or immunities under this Indenture or
otherwise. 

        SECTION
9.04.    Effect of Supplemental Indentures.    Upon the execution of any supplemental indenture under this
Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities
theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 

        SECTION
9.05.    Conformity with Trust Indenture Act.    Every supplemental indenture executed pursuant to this
Article shall conform to the requirements of the TIA as then in effect. 

        SECTION
9.06.    Reference in Securities to Supplemental Indentures.    Securities authenticated and delivered after
the execution of any supplemental indenture pursuant to this Article may, and shall, if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared
and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities. 

49

 

 
 

ARTICLE TEN    
    
    Consolidation, Merger, Conveyance or Transfer    
  

        SECTION
10.01.    Company May Consolidate, etc., Only on Certain Terms.    The Company shall not consolidate with or
merge into, or convey or transfer its properties and assets substantially as an entirety to, any Person, unless: 

          (i)  the
Person formed by such consolidation (if other than the Company) or into which the Company is merged or the Person which acquires by conveyance or transfer the
properties and assets of the Company substantially as an entirety shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, the due and punctual payment of
the principal of, premium, if any, and interest (including all additional amounts, if any, payable pursuant to Section 5.04) on all the Securities and the performance of every covenant of this
Indenture on the part of the Company to be performed or observed; 

        (ii)  immediately
after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time, or both, would become an Event of Default,
shall have happened and be continuing; and 

        (iii)  the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and
such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 

        SECTION
10.02.    Successor Corporation Substituted.    Upon any consolidation or merger, or any conveyance or
transfer of the properties and assets of the Company substantially as an entirety in accordance with Section 10.01, the successor Person formed by such consolidation or into which the Company
is merged or to which such conveyance or transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as
if such successor Person had been named as the Company herein. In the event of any such conveyance or transfer, the Company as the predecessor corporation shall be relieved of all obligations and
covenants under this Indenture and may be dissolved, wound up and liquidated at any time thereafter. 

        In
case of any such consolidation, merger, sale or conveyance, such changes in phraseology and form may be made in the Securities thereafter to be issued as may be appropriate. 

 
 

ARTICLE ELEVEN    
    
    Satisfaction and Discharge    
  

        SECTION
11.01.    Satisfaction and Discharge of Indenture.    This Indenture shall cease to be of further effect
(except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for and rights to receive payments thereon and any right to receive additional
amounts, as provided in Section 5.04), and the Trustee, on receipt of a Company Request and at the expense of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when: 

          (i)  either:

        (a)  all
Securities theretofore authenticated and delivered (other than (1) coupons appertaining to Bearer Securities surrendered for exchange for Registered
Securities and maturing after such exchange, whose surrender is not required or has not been waived as provided in Section 3.05, (2) coupons appertaining to Bearer Securities called for
redemption and maturing after the relevant Redemption Date, whose surrender has been waived as 

50

 

provided in Section 4.06, (3) coupons appertaining to Bearer Securities surrendered for repayment pursuant to Section 15.03 and maturing after the Repayment Date, whose surrender
has been waived as provided in Section 15.03, (4) Securities and coupons which have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 3.06, and (5) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 5.03) have been delivered to the Trustee for cancellation; or 

        (b)  all
such Securities not theretofore delivered to the Trustee for cancellation: 

        (1)  have
become due and payable, or 

        (2)  will
become due and payable at their Stated Maturity within one year, or 

        (3)  are
to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at
the expense, of the Company, 

and
the Company, in the case of (b) (1), (2) or (3) above, has deposited or caused to be deposited with the Trustee, as trust funds in trust for the purpose, an amount sufficient
to pay and discharge the entire indebtedness on such Securities and coupons not theretofore delivered to the Trustee for cancellation, for principal, premium, if any, and interest to the date of such
deposit (in the case of Securities which have become due and payable), or to the Stated Maturity or Redemption Date, as the case may be; 

        (ii)  the
Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

        (iii)  the
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to
the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 8.07 and, if money shall have been deposited with the Trustee
pursuant to subclause (b) of clause (i) of this Section, the obligations of the Trustee under Section 11.02 and the last paragraph of Section 5.03 shall survive. 

        SECTION
11.02.    Application of Trust Money.    Subject to the provisions of the last paragraph of
Section 5.03, all money deposited with the Trustee pursuant to Section 11.01 shall be held in trust and applied by it, in accordance with the provisions of the Securities, the coupons,
if any, and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), as the Trustee may determine, to the Persons entitled
thereto, of the principal, premium, if any, and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent
required by law. 

        SECTION
11.03.    Reinstatement.    If the Trustee or any Paying Agent is unable to apply any money in accordance with
Section 11.02 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application,
the Company's obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 11.01 until such time as the Trustee or
any Paying Agent is permitted to apply all such money in accordance with Section 11.02. 

51

 

 
 

ARTICLE TWELVE    
    
    Immunity of Incorporators, Stockholders,
  Officers and Directors    
  

        SECTION
12.01.    Exemption from Individual Liability.    No recourse under or upon any obligation, covenant or
agreement of this Indenture, or of any Security or coupon, or for any claim based thereon or otherwise in respect thereof, shall be had against any incorporator, stockholder, officer or director, as
such, past, present or future, of the Company or of any successor corporation, either directly or through the Company, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations of the Company, and that
no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors, as such, of the Company or of any successor corporation, or
any of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or
coupons or implied therefrom; and that any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every
such incorporator, stockholder, officer or director, as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained
in this Indenture or in any of the Securities or coupons or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture
and the issuance of the Securities. 

 
 

ARTICLE THIRTEEN    
    
    Sinking Funds    
  

        SECTION
13.01.    Applicability of Article.    If provided for by the terms of Securities of any series as
contemplated by Section 3.01, the provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of such series (except as otherwise specified as
contemplated by Section 3.01 for Securities of such series). 

        The
minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a "mandatory sinking fund payment", and any payment in
excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as an "optional sinking fund payment". If provided for by the terms of Securities of any
series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 13.02. Each sinking fund payment shall be applied to the redemption of Securities of any
series as provided for by the terms of Securities of such series. 

        SECTION
13.02.    Satisfaction of Sinking Fund Payments with Securities.    The Company (i) may deliver
Outstanding Securities of a series (other than any previously called for redemption), together in the case of any Bearer Securities of such series with all unmatured coupons appertaining thereto and
(ii) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted
optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series
required to be made pursuant to the terms of such Securities as provided for by the terms of such series; provided that such Securities have not been
previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

52

  

        SECTION 13.03.    Redemption of Securities for Sinking Fund.    Not less than 60 days prior to each sinking
fund payment date for any series of Securities, the Company will deliver to the Trustee and the Security Registrar an Officers' Certificate specifying (i) the amount of the next ensuing sinking
fund payment for that series pursuant to the terms of that series, (ii) the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities of that series pursuant to Section 13.02, and (iii) that none of such Securities has theretofore been so credited and stating the basis
for such credit, and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each sinking fund payment date the Security Registrar shall select the
Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 4.03 and cause notice of the redemption thereof to be given in the name of and at the expense of
the Company in the manner provided in Section 4.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 4.06
and 4.07 and shall be subject to Section 4.08. 

 
 

ARTICLE FOURTEEN    
    
    Repayment at the Option of Holders    
  

        SECTION
14.01.    Applicability of Article.    If provided for by the terms of Securities of any series as
contemplated by Section 3.01, Securities of such series which are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with their terms and
(except as otherwise specified pursuant to Section 3.01 for Securities of such series) in accordance with this Article. 

        SECTION
14.02.    Repayment of Securities.    Each Security which is subject to repayment in whole or in part at the
option of the Holder thereof on a Repayment Date shall be repaid at the applicable Repayment Price together with interest accrued to such Repayment Date as specified pursuant to Section 3.01. 

        SECTION
14.03.    Exercise of Option, Notice.    Each Holder desiring to exercise such Holder's option for repayment
shall, as conditions to such repayment, surrender the Security to be repaid in whole or in part together with written notice of the exercise of such option at any office or agency of the Company in a
Place of Payment, not less than 30 nor more than 45 days prior to the Repayment Date; provided,  however, that surrender of Bearer Securities together
with written notice of exercise of such option shall be made at an office or agency located
outside the United States except as otherwise provided in Section 5.02. Such notice, which shall be irrevocable, shall specify the principal amount of such Security to be repaid, which shall be
equal to the minimum authorized denomination for such Security or an integral multiple thereof, and shall identify the Security to be repaid and, in the case of a partial repayment of the Security,
shall specify the denomination or denominations of the Security or Securities of the same series to be issued to the Holder for the portion of the principal of the Security surrendered which is not to
be repaid. 

        If
any Bearer Security surrendered for repayment shall not be accompanied by all unmatured coupons and all matured coupons in default, such Bearer Security may be paid after deducting
from the Repayment Price an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustee if there be
furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Bearer Security shall surrender to the Trustee or
any Paying Agent any such missing coupon in respect of which a deduction shall have been made from the Repayment Price, such Holder shall be entitled to receive the amount so deducted without interest
thereon; provided, however, that interest represented by coupons shall be payable only at an office or
agency located outside the United States except as otherwise provided in Section 5.02. 

53

 

        The
Company shall execute and the Trustee shall authenticate and deliver without service charge to the Holder of any Registered Security so surrendered a new Registered Security or
Securities of the same series and tenor, of any authorized denomination specified in the foregoing notice, in an aggregate principal amount equal to any portion of the principal of the Registered
Security so surrendered which is not to be repaid. 

        The
Company shall execute and the Trustee shall authenticate and deliver without service charge to the Holder of any Bearer Security so surrendered a new Registered Security or
Securities or new Bearer Security or Securities (and all appurtenant unmatured coupons and matured coupons in default) or any combination thereof of the same series and tenor of any authorized
denomination or denominations specified in the foregoing notice, in an aggregate principal amount equal to any portion of the principal of the Security so surrendered which is not to be repaid;  provided,
 however, that the issuance of a Registered Security therefor shall be subject to applicable
laws and regulations, including provisions of the United States Federal income tax laws and regulations in effect at the time of the exchange; neither the Company, the Trustee nor the Security
Registrar shall issue Registered Securities for Bearer Securities if it has received an Opinion of Counsel that as a result of such issuance the Company would suffer adverse consequences under the
United States Federal income tax laws then in effect and the Company has delivered to the Trustee a Company Order directing the Trustee not to make such issuances thereafter unless and until the
Trustee receives a subsequent Company Order to the contrary. The Company shall deliver copies of such Company Order to the Security Registrar. 

        For
all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the repayment of Securities shall relate, in the case of any Security repaid or to
be repaid only in part, to the portion of the principal of such Security which has been or is to be repaid. 

        SECTION
14.04.    Election of Repayment by Remarketing Entities.    The Company may elect, with respect to Securities
of any series which are repayable at the option of the Holders thereof before their Stated Maturity, at any time prior to any Repayment Date to designate one or more Remarketing Entities to purchase,
at a price equal to the Repayment Price, Securities of such series from the Holders thereof who give notice and surrender their Securities in accordance with Section 14.03. 

        SECTION
14.05.    Securities Payable on the Repayment Date.    Notice of exercise of the option of repayment having
been given and the Securities so to be repaid having been surrendered as aforesaid, such Securities shall, unless purchased in accordance with Section 14.04, on the Repayment Date become due
and payable at the price therein specified and from and after the Repayment Date such Securities shall cease to bear interest and shall be paid on the Repayment Date, and the coupons for such interest
appertaining to Bearer Securities so to be repaid, except to the extent provided above, shall be void, unless the Company shall default in the payment of such price, in which case the Company shall
continue to be obligated for the principal amount of such Securities and shall be obligated to pay interest on such principal amount at the rate prescribed therefor by such Securities from time to
time until payment in full of such principal amount. 

 
 

ARTICLE FIFTEEN    
    
    Meetings of Holders of Securities    
  

        SECTION
15.01.    Purposes for Which Meetings May Be Called.    If Securities of a series are issuable in whole or in
part as Bearer Securities, a meeting of Holders of Securities of such series may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand,
authorization, direction, notice, consent, waiver or other Act provided by this Indenture to be made, given or taken by Holders of Securities of such series. 

        SECTION
15.02.    Call, Notice and Place of Meetings.    (i) The Trustee may at any time call a meeting of
Holders of Securities of any series issuable in whole or in part as Bearer Securities for any 

54

 

purpose specified in Section 15.01, to be held at such time and at such place in Beverly Hills, California, in the Borough of Manhattan, The City of New York, or in London as the Trustee shall
determine. Notice of every meeting of Holders of Securities of any series, setting forth the time and the
place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 1.06, not less than 21 nor more than
180 days prior to the date fixed for the meeting. 

        (ii)  In
case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 10% in principal amount of the Outstanding Securities of any such series
shall have requested the Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in Section 15.01, by written request setting forth in reasonable detail
the action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after receipt of such request or shall not
thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the
time and the place in Beverly Hills, California, in the Borough of Manhattan, The City of New York, or in London for such meeting and may call such meeting for such purposes by giving notice thereof
as provided in subsection (i) of this Section. 

        SECTION
15.03.    Persons Entitled to Vote at Meetings.    To be entitled to vote at any meeting of Holders of
Securities of any series, a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder
or Holders of one or more Outstanding Securities of such series by such Holder or Holders. The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of
any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

        SECTION
15.04.    Quorum; Action.    The Persons entitled to vote a majority in principal amount of the Outstanding
Securities of a series shall constitute a quorum for a meeting of Holders of Securities of such series; provided,  however, that if any action is to be
taken at such meeting with respect to a consent or waiver which this Indenture expressly provides may be given by
the Holders of a greater percentage in principal amount of the Outstanding Securities of a series, the Persons entitled to vote such greater percentage in principal amount of the Outstanding
Securities of such series shall constitute a quorum. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of Holders
of Securities of such series, be dissolved. In the absence of a quorum in any other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairperson of
the meeting prior to the adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than
10 days as determined by the chairperson of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in
Section 15.02 (i), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an
adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall constitute a quorum. 

        Except
as limited by the provisos to Section 9.02, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be
adopted only by the affirmative vote of the Holders of a majority in principal amount of the Outstanding Securities of the series; provided,  however, that,
except as limited by the provisos to Section 9.02, any resolution with respect to any consent or waiver which this Indenture
expressly provides may be given by the Holders
of a greater percentage in principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid
only by the affirmative vote of the Holders of such greater percentage in principal amount of the 

55

 

Outstanding Securities of that series; and provided further that, except as limited by the provisos to Section 9.02, any resolution with respect
to any request, demand, authorization, direction, notice, consent, waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage,
which is less than a majority in principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as
aforesaid by the affirmative vote of the Holders of such specified percentage in principal amount of the Outstanding Securities of that series. 

        Any
resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities
of such series and the related coupons, whether or not present or represented at the meeting. 

        SECTION
15.05.    Determination of Voting Rights; Conduct and Adjournment of Meetings.    

        (a)  Notwithstanding
any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of
Securities of such series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the
submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as
otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the manner specified in Section 1.04 and the appointment of any proxy shall be proved in
the manner specified in Section 1.04 or, in the case of Bearer Securities, by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker
authorized by Section 1.04 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid
and genuine without the proof specified in Section 1.04 or other proof. 

        (b)  The
Trustee shall, by an instrument in writing, appoint a temporary chairperson of the meeting, unless the meeting shall have been called by the Company or by Holders of
Securities as provided in Section 15.02(ii), in which case the Company or the Holders of Securities of the series calling the meeting, as the case may be, shall in like manner appoint a
temporary chairperson. A permanent chairperson and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding
Securities of such series represented at the meeting. 

        (c)  At
any meeting each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount (or the equivalent in any composite
currency or a Foreign Currency) of Securities of such series held or represented by him; provided,  however, that no vote shall be cast or
counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairperson of the meeting not to be Outstanding. The chairperson of the meeting shall have no right to
vote, except as a Holder of a Security of such series or proxy. 

        (d)  Any
meeting of Holders of Securities of any series duly called pursuant to Section 15.02 at which a quorum is present may be adjourned from time to time by
Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further notice. 

        SECTION
15.06.    Counting Votes and Recording Action of Meetings.    The vote upon any resolution submitted to any
meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy
and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them. The permanent chairperson of the meeting shall appoint two inspectors of votes
who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast
at 

56

 

the meeting. A record, at least in triplicate, of the proceedings of each meeting of Holders of Securities of any series shall be prepared by the secretary of the meeting and there shall be attached
to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the
notice of the meeting and showing that said notice was given as provided in Section 15.02 and, if applicable, Section 15.04. Each copy shall be signed and verified by the affidavits of
the permanent chairperson and secretary of the meeting and one such copy shall be delivered to the Company, and another to the Trustee to be preserved by the Trustee, the latter to have attached
thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

 
 

ARTICLE SIXTEEN    
    
    Miscellaneous    
  

        SECTION
16.01.    Counterparts.    This Indenture may be executed in any number of counterparts, each of which shall
be an original; but such counterparts shall together constitute but one and the same instrument. 

        U.S.
Bank National Association hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions hereinabove set forth. 

57

   
        IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of the day and
year first above written. 

	 	 	CITY NATIONAL CORPORATION,
	

 	
 	
by	

 
	 	 	 	
 Name:

Title:
	

[Seal]	
 	

 	

 
	

Attest:	
 	

 	

 
	

[CORPORATE SEAL]
	

 Assistant Secretary	
 	

 	

 
	

 	
 	
U.S. BANK NATIONAL ASSOCIATION,
 as Trustee,
	

 	
 	

by	

 
	 	 	 	
 Name:

Title:

58

	STATE OF	 	)	 	 
	 	 	) ss.:	 	 
	COUNTY OF	 	)	 	 

        On
this            day of            , 2003, before me personally came to me known,
            , who, being by me duly sworn, did depose and say that he resides at
                        ; that he
is                        of CITY NATIONAL CORPORATION, one of the corporations described in and which executed the foregoing
instrument; that he knows the corporate seal of said
corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that he signed his name thereto by
like authority. 

	 	 	 	
 Notary Public
	

[Notarial Seal]	
 	

 	

 

	STATE OF	 	)	 	 
	 	 	) ss.:	 	 
	COUNTY OF	 	)	 	 

        On
this            day of            , 2003, before me personally
appeared                        , to me known, who, being by me duly sworn, did depose and say that he resides at
                        ; that he is
a                        of U.S. BANK NATIONAL ASSOCIATION, one of the parties described in and which executed the foregoing
instrument; that he knows the corporate seal of said
corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that he signed his name thereto by
like authority. 

	 	 	 	
 Notary Public
	

[Notarial Seal]	
 	

 	

 

 
 

EXHIBIT A    
  

 
 

FORM OF CERTIFICATE TO BE GIVEN BY
  PERSON ENTITLED TO RECEIVE BEARER SECURITY    
    
    CERTIFICATE    
  

[Insert
title or sufficient description of Securities to be delivered] 

        This
is to certify that the above-captioned Securities are not being acquired by or on behalf of a United States person, or, if a beneficial interest in the Securities is being acquired
by or on behalf of a United States person, that such United States person is a financial institution within the meaning of Section 1.165-12 (c) (1) (v) of the United
States Treasury regulations which agrees to comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as amended and the regulations
thereunder. If the undersigned is a dealer, the undersigned agrees to obtain a similar certificate from each person entitled to delivery of any of the above-captioned Securities in bearer form
purchased from it; provided, however, that, if the undersigned has actual knowledge that the information
contained in such a certificate is false, the undersigned will not deliver a Security in temporary or definitive bearer form to the person who signed such certificate notwithstanding the delivery of
such certificate to the undersigned. 

        As
used herein, "United States person" means any citizen or resident of the United States, any corporation, partnership or other entity created or organized in or under the laws of the
United States and any estate or trust the income of which is subject to United States Federal income taxation regardless of its source, and "United States" means the United States of America
(including the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

        We
undertake to advise you by telex if the above statement as to beneficial ownership is not correct on the date of delivery of the above-captioned Securities in bearer form as to all of
such Securities. 

        We
understand that this certificate is required in connection with certain tax legislation in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested party in such proceedings. 

Dated:                        ,
20 

[To
be dated no earlier than 15 days prior to the Exchange Date] 

	 	 	[Name of Person Entitled to Receive Bearer Security)
	

	
 	

 
	 	 	
 (Authorized Signatory)
	 	 	Name:

Title:

 
 

EXHIBIT B    
  

 
 

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM IN
  CONNECTION WITH THE
  EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL SECURITY    
    
    CERTIFICATE    
  

[Insert
title or sufficient description of Securities to be delivered] 

        This
is to certify with respect to $                              principal amount of the above-captioned
Securities (i) that we have received from each of the persons appearing
in our records as persons entitled to a portion of such principal amount (our "Qualified Account Holders") a certificate with respect to such portion substantially in the form attached hereto, and
(ii) that we are not submitting herewith for exchange any portion of the temporary global Security representing the above-captioned Securities excepted in such certificates. 

        We
further certify that as of the date hereof we have not received any notification from any of our Qualified Account Holders to the effect that the statements made by such Qualified
Account Holders with respect to any portion of the part submitted herewith for exchange are no longer true and cannot be relied upon as of the date hereof. 

Dated:            ,
20 

[To
be dated no earlier than the Exchange Date] 

	 	 	[Euroclear Bank S.A./N.V., as Operator of the Euroclear System, or any successor securities clearing agency]
	

 	
 	

[CLEARSTREAM]
	

 	
 	

By	

 
	 	 	 	

 
 

EXHIBIT C    
  

 
 

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND
  CLEARSTREAM TO OBTAIN INTEREST PRIOR TO AN EXCHANGE DATE    
    
    CERTIFICATE    
  

[Insert
title or sufficient description of Securities] 

        This
is to certify that, as of the Interest Payment Date on [Insert Date], the undersigned, which is a holder of an interest in the temporary global Security
representing the above Securities, is not a United States person. 

        As
used herein, "United States person" means any citizen or resident of the United States, any corporation, partnership or other entity created or organized in or under the laws of the
United States and any estate or trust the income of which is subject to United States Federal income taxation regardless of its source, and "United States" means the United States of America
(including the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

        We
confirm that the interest payable on such Interest Payment Date will be paid to each of the persons appearing in our records as being entitled to interest to be paid on the above date
from whom we have received a written certification dated not earlier than 15 days prior to such Interest Payment Date to the effect that the beneficial owner of such portion with respect to
which interest is to be paid on such date either is not a United States person or is a United States person which is a financial institution which has provided an Internal Revenue Service
Form W-9 or is an exempt recipient as defined in United States Treasury Regulations § 1.6049-4(c)(1)(ii). We undertake to retain certificates received from
our member
organizations in connection herewith for four years from the end of the calendar year in which such certificates are received. 

        The
foregoing reflects any advice received subsequent to the date of any certificate stating that the statements contained in such certificate are no longer correct. 

Dated:            ,
20 

[To
be dated on or after the relevant Interest Payment Date] 

	 	 	[Euroclear Bank S.A./N.V., as Operator of the Euroclear System, or any successor securities clearing agency]
	

 	
 	

[CLEARSTREAM]
	

 	
 	

By	

 
	 	 	 	

 
 

EXHIBIT D    
  

 
 

FORM OF CERTIFICATE TO BE GIVEN BY BENEFICIAL OWNERS TO
  OBTAIN INTEREST PRIOR TO AN EXCHANGE DATE    
    
    CERTIFICATE    
  

[Insert
title or sufficient description of Securities] 

        This
is to certify that as of the date hereof, no portion of the temporary global Security representing the above-captioned Securities and held by you for our account is beneficially
owned by a United States person or, if any portion thereof held by you for our account is beneficially owned by a United States person, such United States person is a financial institution within the
meaning of Section 1.165-12(c)(1)(v) of the United States Treasury regulations which agrees to comply with Section 165(j)(3)(A), (B) or (C) of the
Internal Revenue Code of 1986, as amended and the regulations thereunder, and certifies that either it has provided an Internal Revenue Service Form W-9 or is an exempt recipient as
defined in Section 1.6049-4(c)(1)(ii) of the United States Treasury regulations. 

        As
used herein, "United States person" means any citizen or resident of the United States, any corporation, partnership or other entity created or organized in or under the laws of the
United States and any estate or trust the income of which is subject to United States Federal income taxation regardless of its source, and "United States" means the United States of America
(including the States and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

        We
undertake to advise you by telex if the above statement as to beneficial ownership is not correct on the Interest Payment Date on [Insert Date] as to any such
portion of such temporary global Security. 

        We
understand that this certificate is required in connection with certain tax legislation in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested party in such proceedings. 

Dated:
, 20 

[To
be dated on or after the 15th day before the relevant Interest Payment Date] 

	 	 	[Name of Account Holder]
	

	
 	

 	

 
	 	 	 	
 (Authorized Signatory)
	 	 	 	Name:

Title:

        UNLESS THIS 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 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. 

        THIS
SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. TRANSFERS OF THIS
GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY
SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE. 

        THE
HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE AGREED TO BE BOUND BY THE PROVISIONS OF A REGISTRATION RIGHTS AGREEMENT DATED FEBRUARY 13, 2003 (THE "REGISTRATION
RIGHTS AGREEMENT"), AMONG THE COMPANY AND THE INITIAL PURCHASERS, AS THEREIN DEFINED. THE COMPANY WILL PROVIDE A COPY OF THE REGISTRATION RIGHTS AGREEMENT TO A HOLDER OF THIS SECURITY WITHOUT CHARGE
UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS. 

        THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. THE HOLDER HEREOF,
BY PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED (X) PRIOR TO THE SECOND ANNIVERSARY OF THE
ISSUANCE HEREOF (OR ANY PREDECESSOR SECURITY HERETO) OR (Y) BY ANY HOLDER THAT WAS AN AFFILIATE OF THE COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF SUCH TRANSFER, IN EITHER
CASE OTHER THAN (1) TO CITY NATIONAL CORPORATION, (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT ("RULE 144A"), TO A PERSON WHOM THE
SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS
GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) PURSUANT TO
OFFERS AND SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (4) PURSUANT TO ANY EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, OR
(5) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES; (B) THE
HOLDER WILL NOTIFY ANY PURCHASER OF SECURITIES FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE, IF THEN APPLICABLE; AND (C) WITH RESPECT TO ANY TRANSFER OF SECURITIES
PURSUANT TO CLAUSE (A)(4), THE HOLDER WILL DELIVER TO CITY NATIONAL CORPORATION AND THE TRUSTEE AN OPINION OF COUNSEL, CERTIFICATES AND OTHER INFORMATION AS THEY MAY REQUIRE TO CONFIRM THAT THE
TRANSFER BY IT COMPLIES WITH THE FOREGOING RESTRICTIONS. 

 

        THESE
SECURITIES ARE NOT SAVINGS OR DEPOSIT ACCOUNTS OR OTHER OBLIGATIONS OF ANY BANK OR NONBANK SUBSIDIARY OF CITY NATIONAL CORPORATION AND ARE NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION, THE BANK INSURANCE FUND OR ANY OTHER GOVERNMENTAL AGENCY. 

 
 

CITY NATIONAL CORPORATION    
    
    5.125% Senior Note Due 2013    
  

	No. 001	 	CUSIP No. 178566AA3

        CITY NATIONAL CORPORATION, a Delaware corporation (herein called the "Company", which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay to 

CEDE & CO.  

or
registered assigns, the principal sum of TWO HUNDRED TWENTY FIVE MILLION DOLLARS ($225,000,000) on February 15, 2013 (the "Maturity Date"), and to pay interest on said principal sum
semiannually on February 15 and August 15 in each year (individually referred to as an "Interest Payment Date" and collectively as the "Interest Payment Dates"), commencing
August 15, 2003, at the rate of 5.125% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months, from February 13, 2003, or from the
most recent Interest Payment Date to which interest has been paid or duly provided for, 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 Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest, which shall be the February 1 or August 1 (whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date, provided that interest payable on the Maturity Date shall be payable to the Person to whom the principal hereof is payable. In
the event any Interest Payment Date or the Maturity Date is not a Business Day, principal and interest will be paid on the next succeeding Business Day with the same force and effect as if made on
such date and no interest on such payment will accrue from and after such date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such
Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the
payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to the Holder of this Security 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 upon which the Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in such Indenture. Payment of the principal of and interest on this Security due on the Maturity Date will be made in immediately available funds upon presentation
of this Security, provided that it is presented to the Paying Agent in time for the Paying Agent to make such payment in such funds in accordance with
its normal procedures. For the purposes of this Security, "Business Day" means any day, other than a Saturday or Sunday, on which banking institutions in the City of Los Angeles, California, the City
of New York, New York and any place of Payment for the Securities are open for business. Payment of the principal of and interest on this Security will be made at the office or agency of the Company
maintained for that purpose in The City of New York, New York, and if this Security is no longer held in global form, 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 (other than interest
payable on the Maturity Date) may be paid by check 

2

 

mailed to the address of the Person entitled thereto as such address shall appear in the Security Register at the close of business on the Regular Record Date. 

        Pursuant
to the Registration Rights Agreement dated February 13, 2003 (the "Registration Rights Agreement") among the Company and the initial purchasers party thereto, the Company
is obligated to consummate an exchange offer pursuant to which the holder of this Security shall, subject to the conditions set forth in the Registration Rights Agreement, have the right to exchange
this Security for a New Security, which has been registered under the Securities Act, in like principal amount and having identical terms as the Securities (other than as set forth in the Registration
Rights Agreement). Capitalized terms used in this paragraph and the following paragraph but not defined in these paragraphs have the meanings assigned to them in the Registration Rights Agreement. 

        In
the event that (i) on or prior to the 120th calendar day after the date hereof (or, if such day is not a Business Day, the Business Day thereafter), neither the Exchange Offer
Registration Statement nor the Shelf Registration Statement is filed with the Securities and Exchange Commission (the "Commission"), (ii) on or prior to the 210th calendar day after the date
hereof (or, if such day is not a Business Day, the first Business Day thereafter), neither the Exchange Offer Registration Statement nor the Shelf Registration Statement is declared effective,
(iii) on or prior to the 45th calendar day after the date of effectiveness of the Exchange Offer Registration Statement, the Registered Exchange Offer has not been consummated (provided no
Shelf Registration Statement is required or requested to be filed), or (iv) after either the Exchange Offer Registration Statement or the Shelf Registration Statement has been declared
effective, such Registration Statement ceases to be effective or usable in connection with resales of Securities or New Securities, as applicable, at any time that the Company is obligated to maintain
the effectiveness thereof pursuant to the Registration Rights Agreement (each, a "Registration Default"), the per annum interest rate borne by the Securities and the New Securities affected thereby
shall be increased by one-quarter of one percent (0.25%) per annum immediately following such Registration Default and payable pursuant to Section 5.04 of the Indenture. Upon
(w) the filing of the Exchange Offer Registration Statement or the Shelf Registration Statement after the 120-day period described in clause (i) above, (x) the
effectiveness of the Exchange Offer Registration Statement or the Shelf Registration Statement after the 210-day period described in clause (ii) above, (y) the consummation
of the Registered Exchange Offer after the 45-day period described in clause (iii) above, or (z) receipt of notice by the Holders of the Securities or the New Securities, as
applicable, from the Company that the applicable Registration Statement or related Prospectus is once again effective or usable following an event described in clause (iv) above, the interest
rate borne by the Securities or the New Securities, as applicable, from the date of such filing, effectiveness, consummation or notice, as the case may be, shall be reduced to the original interest
rate if the Company is otherwise in compliance with this paragraph; provided, however, that, if after
any such reduction in interest rate, a different Registration Default occurs, the interest rate shall again be increased pursuant to the foregoing provisions. 

        Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose. 

3

 

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

	 	 	CITY NATIONAL CORPORATION
	

 	
 	

By	

 
	 	 	 	
 Title:
	

 	
 	

ATTEST:
	

 	
 	

By:	

 
	 	 	 	
 Title:

 
 

CERTIFICATE OF AUTHENTICATION    
  

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

	U.S. BANK NATIONAL ASSOCIATION

    as Trustee	 
	

By:	
 	

 	

 
	 	 	
 Authorized Officer	 
	

Date: February 13, 2003

4

 
[REVERSE OF SECURITY]  

        This
Security is one of a duly authorized issue of notes of the series designated above of the Company (herein called the "Securities"), issued and to be issued under an indenture dated
as of February 13, 2003 for senior debt securities (the "Indenture"), between CITY NATIONAL CORPORATION and U.S. BANK NATIONAL ASSOCIATION, to which the 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
Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate
principal amount equal to $225,000,000 as of the date of this Security. In addition, the Company may from time to time without the consent of the Holders of Securities create and issue further
securities having the same terms and conditions as the Securities in all respects (or in all respects except for the issue date and issue price) and so that such further issue shall be consolidated
and form a single series with the outstanding securities of this issue (including the Securities) or upon such terms as the Company may determine at the time of their issue. References herein
to the Securities include (unless the context requires otherwise) any other securities issued as described in this paragraph and forming a single series with the Securities. 

        Where
the Indenture or this Security provides for notice to the Holder of this Security of any event, such notice shall be sufficiently given if in writing and mailed, first class,
postage prepaid, to the Holder of this Security at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving
of such notice. In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to the Holder of this Security by mail, then
such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. In any case where notice to Holder of this Security is given
by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to the Holder of this Security shall affect the sufficiency of such notice with respect to other Holders of
the Securities. 

        This
Security may not be redeemed, in whole or in part, prior to the Maturity Date. This Security is not subject to any sinking fund. 

        This
Security shall have the benefit of the covenants and agreements set forth in the Indenture. 

        If
an Event of Default with respect to the Securities shall occur and be continuing, the principal of all the Securities 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 Securities of each series under the Indenture to be affected at any time by the Company with the consent of the Holders of a majority in principal amount of the Outstanding Securities of all
series to be affected (acting as one class). The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Outstanding Securities of each series, on behalf of
the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive
and binding upon such Holder and upon all future Holders of this Security and of any Security 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 Security. 

        As
provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding, judicial or otherwise, with respect to
the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder has 

5

 

previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than a majority in principal amount of the
Outstanding Securities of this series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder, such Holder or
Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request, the Trustee for 60 days after its receipt of
such notice, request and offer of indemnity has failed to institute such proceeding, and no direction inconsistent with such written request has been given to the Trustee during such
60-day period by the Holders of a majority in principal amount of the Outstanding Securities of this series. The foregoing shall not apply to any suit instituted by the Holder of this
Security for the enforcement of any payment of principal of, premium, if any, and interest on this Security on or after the respective due dates expressed herein. 

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

        As
provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security Register of the Company, upon surrender
of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more
new Securities of authorized denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. 

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

        The
Securities are issuable in the form of one or more Global Securities and shall be exchangeable for definitive Securities only in the circumstances specified in Section 3.05 of
the Indenture (other than the tenth paragraph thereof). The Depositary for the Securities shall be The Depository Trust Company. 

        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. 

        Prior
to due presentment of this Security 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
Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 

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

        All
terms not defined herein shall have the respective meanings ascribed to them in the Indenture referred to herein. 

        Unless
the certificate of authentication hereon has been manually executed by or on behalf of the Trustee under such Indenture, this Security shall not be entitled to any benefits under
such Indenture or be valid or obligatory for any purpose. 

6

   [FORM OF ASSIGNMENT]  

        For
value received                        hereby sell(s), assign(s) and transfer(s)
unto                        (please insert social security or other identifying number of assignee) the within Security,
and hereby irrevocably constitutes and appoints                        attorney to transfer the said Security on the books of the
Company, with full power of substitution in the premises. 

        In
connection with any transfer of the within Security occurring prior to the second anniversary of the date of original issuance of such Security, the undersigned confirms that such
Security is being transferred: 

	(1)	 	[    ]    	 	To City National Corporation; or
	(2)	 	[    ]    	 	So long as this Security is eligible for resale pursuant to Rule 144A under the Securities Act, to a person whom the seller reasonably believes is a Qualified Institutional Buyer within the meaning of Rule 144A,
purchasing for its own account or for the account of a Qualified Institutional Buyer to whom notice is given that the resale, pledge or other transfer is being made in reliance on Rule 144A; or
	(3)	 	[    ]    	 	Pursuant to offers and sales that occur outside the United States within the meaning of Regulation S under the Securities Act; or
	(4)	 	[    ]    	 	Pursuant to any exemption from registration under the Securities Act; or
	(5)	 	[    ]    	 	Pursuant to an effective Registration Statement under the Securities Act.

        Unless
one of the boxes above is checked, the Trustee will refuse to register any of the within Notes in the name of any person other than the registered holder thereof (or hereof);  provided, however, that the
Trustee may, in its sole discretion, register the transfer of such Notes if it has received such certifications, legal
opinions and/or other information as the Company has required to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933, as amended. 

        In
addition, if box (4) above is checked, the holder must furnish to the Trustee certifications, legal opinions or other information as it or the Company may require to confirm
that such transfer is being made pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended. 

	Dated:	 	    
	 	 
	

  

	
 	

 
	

 Signature(s)	
 	

 

        Signature(s)
must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with membership in an approved signature
guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15. 

	
 Signature Guarantee	 	 

7

  

 
 

SCHEDULE OF INCREASES OR DECREASES    
  

        The initial principal amount of this Global Security is U.S. $225,000,000. The following increases or decreases in this Global Security have been made: 

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

	 	 	 	 	 	 	 	 	 

8

QuickLinks

Exhibit 4(d)

TABLE OF CONTENTS

CROSS-REFERENCE TABLE

ARTICLE ONE Definitions and Other Provisions of General Application

ARTICLE TWO Security Forms

ARTICLE THREE The Securities

ARTICLE FOUR Redemption of Securities

ARTICLE FIVE Covenants

ARTICLE SIX Holders' Lists and Reports by Trustee and Company

ARTICLE SEVEN Remedies

ARTICLE EIGHT The Trustee

ARTICLE NINE Supplemental Indentures

ARTICLE TEN Consolidation, Merger, Conveyance or Transfer

ARTICLE ELEVEN Satisfaction and Discharge

ARTICLE TWELVE Immunity of Incorporators, Stockholders, Officers and Directors

ARTICLE THIRTEEN Sinking Funds

ARTICLE FOURTEEN Repayment at the Option of Holders

ARTICLE FIFTEEN Meetings of Holders of Securities

ARTICLE SIXTEEN Miscellaneous

EXHIBIT A

FORM OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED TO RECEIVE BEARER SECURITY CERTIFICATE

EXHIBIT B

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM IN CONNECTION WITH THE EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL SECURITY CERTIFICATE

EXHIBIT C

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM TO OBTAIN INTEREST PRIOR TO AN EXCHANGE DATE CERTIFICATE

EXHIBIT D

FORM OF CERTIFICATE TO BE GIVEN BY BENEFICIAL OWNERS TO OBTAIN INTEREST PRIOR TO AN EXCHANGE DATE CERTIFICATE

CITY NATIONAL CORPORATION 5.125% Senior Note Due 2013

CERTIFICATE OF AUTHENTICATION

SCHEDULE OF INCREASES OR DECREASES

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