Document:

EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
  

 
 PRUDENTIAL FINANCIAL, INC.

 TO 
 THE BANK
OF NEW YORK MELLON 
 Trustee 

Tenth Supplemental Indenture 

Dated as of May 18, 2015 

5.375% Fixed-to-Floating Rate Junior Subordinated Notes due 2045 
  

 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	ARTICLE ONE         DEFINITIONS	  	 	1	  
			
	 Section 1.01.
	    	 Definitions
	  	 	1	  
		
	ARTICLE TWO        GENERAL TERMS AND CONDITIONS OF THE NOTES	  	 	7	  
			
	 Section 2.01.
	    	 Designation and Principal Amount
	  	 	7	  
	 Section 2.02.
	    	 Maturity
	  	 	7	  
	 Section 2.03.
	    	 Form
	  	 	7	  
	 Section 2.04.
	    	 Rate of Interest; Interest Payment Dates
	  	 	8	  
	 Section 2.05.
	    	 Deferral
	  	 	8	  
	 Section 2.06.
	    	 Events of Default
	  	 	9	  
	 Section 2.07.
	    	 Securities Registrar; Paying Agent; Place of Payment
	  	 	10	  
	 Section 2.08.
	    	 No Sinking Fund
	  	 	10	  
	 Section 2.09.
	    	 Subordination
	  	 	10	  
	 Section 2.10.
	    	 Senior Indebtedness
	  	 	11	  
	 Section 2.11.
	    	 Defeasance
	  	 	11	  
		
	ARTICLE THREE    COVENANTS	  	 	12	  
			
	 Section 3.01.
	    	 Dividend and Other Payment Stoppages
	  	 	12	  
		
	ARTICLE FOUR      REDEMPTION OF THE NOTES	  	 	13	  
			
	 Section 4.01.
	    	 Redemption
	  	 	13	  
		
	ARTICLE FIVE        ORIGINAL ISSUE OF NOTES	  	 	14	  
			
	 Section 5.01.
	    	 Calculation of Original Issue Discount
	  	 	14	  
		
	ARTICLE SIX          SUPPLEMENTAL INDENTURES	  	 	14	  
			
	 Section 6.01.
	    	 Supplemental Indentures without Consent of Holders
	  	 	14	  
	 Section 6.02.
	    	 Supplemental Indentures with Consent of Holders
	  	 	15	  
		
	ARTICLE SEVEN    MISCELLANEOUS	  	 	16	  
			
	 Section 7.01.
	    	 Effectiveness
	  	 	16	  
	 Section 7.02.
	    	 Successors and Assigns
	  	 	16	  
	 Section 7.03.
	    	 Effect of Recitals
	  	 	16	  
	 Section 7.04.
	    	 Ratification of Indenture
	  	 	16	  
	 Section 7.05.
	    	 Tax Treatment
	  	 	16	  
	 Section 7.06.
	    	 Governing Law
	  	 	16	  
	 Section 7.07.
	    	 Severability
	  	 	16	  
	 Section 7.08.
	    	 Consequential Damages and Force Majeure
	  	 	17	  

  
 -i- 

 TENTH SUPPLEMENTAL INDENTURE 

Tenth Supplemental Indenture, dated as of May 18, 2015 (the “Supplemental Indenture”), between Prudential Financial,
Inc., a New Jersey corporation (the “Company”), having its principal office at 751 Broad Street, Newark, New Jersey 07102, and The Bank of New York Mellon (formerly known as The Bank of New York), a New York banking corporation, as
trustee (hereinafter called the “Trustee”). 
 RECITALS OF THE COMPANY 

The Company and the Trustee executed and delivered an indenture, dated as of June 17, 2008 (the “Base Indenture”), to
the Trustee to provide for the future issuance of the Company’s subordinated debt securities, to be issued from time to time in one or more series as might be determined by the Company under the Base Indenture. 

Section 901 of the Base Indenture provides that the Company and the Trustee, without the consent of any Holder, may enter into a
supplemental indenture to establish the form or terms of Securities of any series as permitted by Sections 201 and 301 thereof. 
 Pursuant
to the terms of the Base Indenture, the Company desires to provide for the establishment, authentication and issuance of a new series of its Securities, the form and terms thereof, as hereinafter set forth. 

The Company has requested that the Trustee execute and deliver this Supplemental Indenture. The Company has delivered to the Trustee an
Opinion of Counsel and an Officers’ Certificate pursuant to Sections 102 and 903 of the Base Indenture to the effect, among other things, that all conditions precedent provided for in the Base Indenture to the Trustee’s execution and
delivery of this Supplemental Indenture have been complied with. All acts and things necessary have been done and performed to make this Supplemental Indenture enforceable in accordance with its terms, and the execution and delivery of this
Supplemental Indenture has been duly authorized in all respects. 
 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: For and in
consideration of the premises and the purchase of the Notes (as herein defined) by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Notes, as follows: 

ARTICLE ONE 
 Definitions

 Section 1.01. Definitions 

For all purposes of this Supplemental Indenture, except as otherwise expressly provided herein or unless the context otherwise requires: 

(a) the terms defined in the Base Indenture have the same meanings when used in this Supplemental Indenture unless otherwise defined herein;

 (b) the terms defined in this Article have the meanings assigned to them in this Article, and
include the plural as well as the singular; 
 (c) any reference to an Article, Section, other subdivision or Exhibit refers to an Article,
Section or other subdivision of, or Exhibit to, this Supplemental Indenture; and 
 (d) the words “herein”, “hereof” and
“hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

In addition, the following terms used in this Supplemental Indenture have the following respective meanings: 

“Business Day” means any day other than (i) a Saturday or Sunday, (ii) a day on which banking institutions in The
City of New York are authorized or required by law or executive order to remain closed, (iii) a day on which the Corporate Trust Office is closed for business or (iv) on or after May 15, 2025, a day that is not a London Banking Day.

 “Calculation Agent” means, with respect to the Notes, The Bank of New York Mellon, or any other firm appointed by the
Company, acting as calculation agent in respect of the Notes. 
 “Capital Regulator” means the Federal Reserve Board so
long as the Federal Reserve Board has oversight of the Company’s regulatory capital and such other governmental agency or instrumentality as may then have group-wide oversight of the Company’s regulatory capital. 

“Company” has the meaning specified in the Recitals. 

“Deferral Period” means the period commencing on an Interest Payment Date with respect to which the Company defers interest
pursuant to Section 2.05 and ending on the earlier of (i) the fifth anniversary of that Interest Payment Date and (ii) the next Interest Payment Date on which the Company has paid all deferred and unpaid amounts (including compounded
interest on such deferred amounts) and all other accrued interest on the Notes. 
 “Federal Reserve Board” means the Board
of Governors of the Federal Reserve System. 
 “Fixed-Rate Interest Payment Date” has the meaning specified in
Section 2.04(b). 
 “Fixed-Rate Interest Period” means the period beginning on and including the date hereof and
ending on but excluding the first Fixed-Rate Interest Payment Date thereafter and each successive period beginning on and including a Fixed-Rate Interest Payment Date and ending on but excluding the next Fixed-Rate Interest Payment Date. 

“Floating-Rate Interest Payment Date” shall have the meaning specified in Section 2.04(b). 

  
 2 

 “Floating-Rate Interest Period” means the period beginning on and including
May 15, 2025 and ending on but excluding the next Floating-Rate Interest Payment Date and each successive period beginning on and including a Floating-Rate Interest Payment Date and ending on but excluding the next Floating-Rate Interest
Payment Date. 
 “Indenture” means the Base Indenture as supplemented by this Supplemental Indenture, and as further
supplemented from time to time with respect to the Notes. 
 “Interest Payment Date” means a Fixed-Rate Interest Payment
Date or a Floating-Rate Interest Payment Date, as the case may be. 
 “Interest Period” means a Fixed-Rate Interest Period
or a Floating-Rate Interest Period, as the case may be. 
 “LIBOR Determination Date” means the second London Banking Day
immediately preceding the first day of the relevant Floating-Rate Interest Period. 
 “London Banking Day” means any day on
which commercial banks are open for general business (including dealings in deposits in U.S. dollars) in London, England. 

“Make-Whole Redemption Price” means, with respect to a redemption of the Notes in whole prior to May 15, 2025, the
present value of a principal payment on May 15, 2025 and scheduled payments of interest that would have accrued from the Redemption Date to May 15, 2025 on the Notes being redeemed (excluding any accrued and unpaid interest for the period
prior to the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Rate, plus 50 basis points, as determined and provided to
the Company by the Treasury Dealer. 
 “Maturity Date” has the meaning specified in Section 2.02. 

“Notes” has the meaning specified in Section 2.01(a). 

“Pari Passu Securities” means (i) the Company’s 5.875% Fixed-to-Floating Rate Junior Subordinated Notes due
2042, (ii) the Company’s 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043, (iii) the Company’s 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044, (iv) the Company’s 5.75% Junior
Subordinated Notes due 2052, (v) the Company’s 5.70% Junior Subordinated Notes due 2053 and (vi) the Company’s 8.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2068. 

“Parity Securities” means indebtedness of the Company that by its terms ranks in right of payment upon liquidation of the
Company on a parity with the Notes, and includes the Notes and the Pari Passu Securities. 

  
 3 

 “Rating Agency Event” means that any nationally recognized statistical rating
organization within the meaning of Section 3(a)(62) of the Exchange Act that then publishes a rating for the Company (a “rating agency”) amends, clarifies or changes the criteria it uses to assign equity credit to securities
such as the Notes, which amendment, clarification or change results in: 
 (i) the shortening of the length of time the Notes
are assigned a particular level of equity credit by that rating agency as compared to the length of time they would have been assigned that level of equity credit by that rating agency or its predecessor on the date hereof, or 

(ii) the lowering of the equity credit (including up to a lesser amount) assigned to the Notes by that rating agency as
compared to the equity credit assigned by that rating agency or its predecessor on the date hereof. 
 “Regulatory Capital
Event” means the Company’s good faith determination that, as a result of: 
 (i) any amendment to, or change
in, the laws, rules or regulations of the United States or any political subdivision of or in the United States or any other governmental agency or instrumentality as may then have group-wide oversight of the Company’s regulatory capital
(including, for the avoidance of doubt, the Company’s Capital Regulator, which is currently the Federal Reserve Board) that is enacted or becomes effective after the date hereof; 

(ii) any proposed amendment to, or change in, those laws, rules or regulations that is announced or becomes effective after the
date hereof; or 
 (iii) any official administrative decision or judicial decision or administrative action or other official
pronouncement interpreting or applying those laws, rules or regulations that is announced after the date hereof, 
 there is more than an
insubstantial risk that the full principal amount of the Notes outstanding from time to time would not qualify as “Tier 2 Capital” (or a substantially similar concept) for purposes of the capital adequacy rules of any Capital Regulator to
which the Company is or will be subject; provided that the proposal or adoption of any criterion: 
 (i) that is
substantially the same as the corresponding criterion in the capital adequacy rules of the Federal Reserve Board applicable to bank holding companies as of the date hereof, or 

(ii) that would result in the full principal amount of the Notes outstanding from time to time not qualifying as “Tier 2
Capital” (or a substantially similar concept) for purposes of the capital adequacy rules of the Capital Regulator solely because the Company may redeem the Notes at its option upon the occurrence of a Rating Agency Event 

will not constitute a Regulatory Capital Event. 

“Reuters Page LIBOR01” means the display so designated on the Reuters 3000 Xtra (or such other page as may replace that page
on that service, or such other service as may be nominated by the Company as the information vendor, for the purpose of displaying rates or prices comparable to the London Interbank Offered Rate for U.S. dollar deposits). 

  
 4 

 “Supplemental Indenture” means this instrument as originally executed or as it
from time to time may be supplemented or amended by one or more agreements supplemental hereto. 
 “Tax Event” means the
receipt by the Company of an opinion of independent counsel experienced in such matters to the effect that, as a result of any: 

(i) amendment to or change (including any officially announced proposed change) in the laws or regulations of the United States
or any political subdivision or taxing authority of or in the United States that is enacted or effective on or after the date hereof; 

(ii) official administrative decision or judicial decision or administrative action or other official pronouncement (including
a private letter ruling, technical advice memorandum or other similar pronouncement) by any court, government agency or regulatory authority that reflects an amendment to, or change in, the interpretation or application of those laws or regulations
that is announced on or after the date hereof; or 
 (iii) threatened challenge asserted in connection with an audit of the
Company, or a threatened challenge asserted in writing against any taxpayer that has raised capital through the issuance of securities that are substantially similar to the Notes, which challenge is asserted against the Company or becomes publicly
known on or after the date hereof, 
 there is more than an insubstantial increase in the risk that interest payable by the Company on the Notes is not, or
within 90 days of the date of such opinion will not be, deductible by the Company, in whole or in part, for U.S. federal income tax purposes. 

“Three-Month LIBOR” means, with respect to any Floating-Rate Interest Period, the rate (expressed as a percentage per annum)
for deposits in U.S. dollars for a three-month period commencing on the first day of that Floating-Rate Interest Period that appears on Reuters Page LIBOR01 as of 11:00 a.m., London time, on the LIBOR Determination Date for that Floating-Rate
Interest Period. If such rate does not appear on Reuters Page LIBOR01, Three-Month LIBOR will be determined on the basis of the rates at which deposits in U.S. dollars for a three-month period commencing on the first day of that Floating-Rate
Interest Period and in a principal amount of not less than $1,000,000 are offered to prime banks in the London interbank market by four major banks in the London interbank market selected by the Company, at approximately 11:00 a.m., London time, on
the LIBOR Determination Date for that Floating-Rate Interest Period. The Calculation Agent will request the principal London office of each of these banks to provide a quotation of its rate. If at least two such quotations are provided, Three-Month
LIBOR with respect to that Floating-Rate Interest Period will be the arithmetic mean (rounded upward if necessary to the nearest whole multiple of 0.00001%) of such quotations. If fewer than two quotations are provided, Three-Month LIBOR with
respect to that Floating-Rate Interest Period will be the arithmetic mean (rounded upward if necessary to the nearest whole 

  
 5 

 
multiple of 0.00001%) of the rates quoted by three major banks in New York City selected by the Company, at approximately 11:00 a.m., New York City time, on the first day of that Floating-Rate
Interest Period for loans in U.S. dollars to leading European banks for a three-month period commencing on the first day of that Floating-Rate Interest Period and in a principal amount of not less than $1,000,000. However, if fewer than three banks
selected by the Company to provide quotations are quoting as described above, Three-Month LIBOR for that Floating-Rate Interest Period will be the same as Three-Month LIBOR as determined for the previous Floating-Rate Interest Period or, in the case
of the first Floating-Rate Interest Period, 0.270%. The establishment of Three-Month LIBOR for each Floating-Rate Interest Period by the Calculation Agent shall (in the absence of manifest error) be final and binding. 

“Treasury Dealer” means one of Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., Merrill Lynch, Pierce,
Fenner & Smith Incorporated or Morgan Stanley & Co. LLC (or their successors), as selected by the Company, or if all of the foregoing refuse to act as Treasury Dealers for the purpose of determining the Make-Whole Redemption Price
or cease to be primary U.S. government securities dealers, another nationally recognized investment banking firm that is a primary U.S. government securities dealer specified by the Company to act as Treasury Dealer for the purpose of determining
the Make-Whole Redemption Price. 
 “Treasury Price” means, with respect to a Redemption Date, the bid-side price for the
Treasury Security as of the third trading day preceding the Redemption Date, as set forth in the Wall Street Journal in the table entitled “Treasury Bonds, Notes and Bills”, except that: (i) if that table (or any successor table) is
not published or does not contain that price information on that trading day or (ii) if the Treasury Dealer determines that the price information is not reasonably reflective of the actual bid-side price of the Treasury Security prevailing at
3:30 p.m., New York City time, on that trading day, then Treasury Price will instead mean the bid-side price for the Treasury Security at or around 3:30 p.m., New York City time, on that trading day (expressed on a next trading day settlement basis)
as determined by the Treasury Dealer through such alternative means as are commercially reasonable under the circumstances. 

“Treasury Rate” means, with respect to a Redemption Date, the semi-annual equivalent yield to maturity of the Treasury
Security that corresponds to the Treasury Price (calculated by the Treasury Dealer in accordance with standard market practice and computed by the Treasury Dealer as of the second trading day preceding the Redemption Date). 

“Treasury Security” means the United States Treasury security that the Treasury Dealer determines would be appropriate to
use, at the time of determination and in accordance with standard market practice, in pricing the Notes being redeemed in a tender offer based on a spread to United States Treasury yields. 

  
 6 

 ARTICLE TWO 

General Terms and Conditions of the Notes 

Section 2.01. Designation and Principal Amount 

(a) Designation 
 Pursuant
to Section 301 of the Base Indenture, there is hereby established a series of Securities of the Company designated as the 5.375% Fixed-to-Floating Rate Junior Subordinated Notes due 2045 (the “Notes”), the principal amount of
which to be issued shall be in accordance with Section 2.01(b) and as set forth in a Company Order for the authentication and delivery of Notes pursuant to the Base Indenture, and the form and terms of which shall be as set forth hereinafter.

 (b) Principal Amount; Additional Notes 

Notes in an initial aggregate principal amount of $1,000,000,000 upon execution of this Supplemental Indenture, shall be executed by the
Company and delivered to the Trustee, and the Trustee shall thereupon authenticate and deliver said Notes in accordance with a Company Order. At any time and from time to time after the date hereof, without the consent of any Holders of the Notes,
the Company may execute and deliver additional Notes to the Trustee for authentication, in addition to the $1,000,000,000 initial aggregate principal amount previously provided for, together with a Company Order for the authentication and delivery
of such additional Notes, so long as such additional Notes are fungible for U.S. federal income tax purposes with the Notes issued as of the date hereof. Any additional Notes so issued shall have the same terms and conditions as the Notes issued on
the date hereof in all respects, except for any difference in the issue date, issue price, interest accrued prior to the issue date of the additional Notes and first Interest Payment Date and shall be governed by this Supplemental Indenture and
shall rank equally and ratably in right of payment with the Notes issued on the date of this Supplemental Indenture and, together with the Notes issued as of the date of this Supplemental Indenture, shall be treated as a single series of Notes for
all purposes. 
 Section 2.02. Maturity 

The Notes will mature on May 15, 2045 (the “Maturity Date”). If the Maturity Date is not a Business Day, payment of
principal and interest to be made on the Maturity Date shall be made on the next Business Day (but no interest shall accrue as a result of such postponement). 

Section 2.03. Form 
 The Notes shall
be substantially in the form of Exhibit A, shall include the Trustee’s certificate of authentication in the form required by Section 205 of the Base Indenture and shall be issued in fully registered definitive form without interest
coupons. 
 The Notes initially are issuable solely as Global Securities and shall bear the legend required by Section 204 of the Base
Indenture. 
 The Depositary for the Notes initially shall be the Depository Trust Company (or any successor thereto). 

  
 7 

 Section 2.04. Rate of Interest; Interest Payment Dates 

(a) Rate of Interest; Accrual 

The Notes shall bear interest on their principal amount: (i) from and including May 18, 2015, to but excluding, May 15, 2025,
or any earlier Redemption Date, at the rate of 5.375% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months, and (ii) from and including May 15, 2025, to but excluding the Maturity Date, or any earlier
Redemption Date, at an annual rate equal to Three-Month LIBOR plus 3.031%, computed on the basis of a 360-day year and the actual number of days elapsed. Defaulted Interest and interest deferred pursuant to Section 2.05 will bear interest, to
the extent permitted by law, at the interest rate in effect from time to time provided in this Section 2.04(a), from and including the relevant Interest Payment Date, compounded on each subsequent Interest Payment Date. 

(b) Interest Payment Dates 

Subject to Section 2.05, accrued interest on the Notes shall be payable (i) semi-annually in arrears on May 15 and
November 15 of each year, beginning on November 15, 2015 and ending on May 15, 2025 (each such date, a “Fixed-Rate Interest Payment Date”), or if any such day is not a Business Day, the next Business Day (but no
interest will accrue as a result of that postponement), to the Holders of the Notes at the close of business on the immediately preceding May 1 or November 1 (whether or not a Business Day), as the case may be, and (ii) quarterly in
arrears on February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2025, or if any such day is not a Business Day, the next Business Day, or if the next Business Day is in the immediately
succeeding calendar month, the immediately preceding Business Day (each such date, a “Floating-Rate Interest Payment Date”), to the Holders of the Notes at the close of business on the immediately preceding February 1,
May 1, August 1 and November 1 (whether or not a Business Day), as the case may be. 
 Section 2.05. Deferral 

(a) Option to Defer Interest Payments 

(i) So long as no Event of Default with respect to the Notes has occurred or is continuing, the Company shall have the right,
at any time and from time to time, to defer the payment of interest on the Notes for one or more consecutive Interest Periods that do not exceed five years for any single Deferral Period, provided that no Deferral Period shall extend beyond
the Maturity Date, any earlier accelerated maturity date arising from an Event of Default or any other earlier redemption of the Notes. If the Company has paid all deferred interest (including compounded interest thereon) on the Notes, the Company
shall have the right to elect to begin a new Deferral Period pursuant to this Section 2.05(a). 
 (ii) At the end of any
Deferral Period, the Company shall pay all deferred interest (including compounded interest thereon) on the Notes to the Persons in whose names the Notes are registered in the Securities Register at the close of business on the Regular Record Date
with respect to the Interest Payment Date at the end of such Deferral Period. 

  
 8 

 (b) Notice of Deferral 

The Company shall give written notice of its election to commence or continue any Deferral Period to the Trustee and the Holders of the Notes
at least one Business Day and not more than 60 Business Days before the next Interest Payment Date. Such notice shall be given to the Trustee and each Holder of Notes at such Holder’s address appearing in the Security Register by first-class
mail, postage prepaid. 
 Section 2.06. Events of Default 

(a) Clauses (1) through (4) of Section 501 of the Base Indenture shall not apply to the Notes. Clauses (5) and (6) of
Section 501 of the Base Indenture shall apply to the Notes. 
 (b) If an Event of Default specified in Clause (5) or (6) of
Section 501 of the Base Indenture occurs, the principal amount of all the Notes shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. 

(c) The Trustee shall provide to the Holders of the Notes notice of any Event of Default or default with respect to the Notes within 90 days
after the actual knowledge of a Responsible Officer of the Trustee of such Event of Default or default. However, except in the case of a default in payment on the Notes, the Trustee will be protected in withholding the notice if one of its
Responsible Officers determines that withholding of the notice is in the interest of such Holders. 
 (d) The Trustee shall have no right or
obligation under the Indenture or otherwise to exercise any remedies on behalf of any Holders of the Notes pursuant to the Indenture in connection with any default, unless such remedies are available under the Indenture and the Trustee is directed
to exercise such remedies pursuant to and subject to the conditions of Section 512 of the Base Indenture, provided, however, that this provision shall not affect the rights of the Trustee with respect to any Events of Default as
set forth in Section 2.06(b) that may occur with respect to the Notes. In connection with any such exercise of remedies the Trustee shall be entitled to the same immunities and protections and remedial rights (other than acceleration) as if
such default were an Event of Default. 
 (e) For purposes of this Section 2.06, the term “default” means any of the
following events: 
 (i) default in the payment of interest, including compounded interest, in full on any Notes for a period
of 30 days after the conclusion of a five-year period following the commencement of any Deferral Period if such Deferral Period has not ended prior to the conclusion of such five-year period; 

(ii) default in the payment of principal of or premium, if any, on the Notes when due; or 

(iii) default in the observance or performance of any covenant or agreement contained in the Indenture or the Notes. 

  
 9 

 Section 2.07. Securities Registrar; Paying Agent; Place of Payment 

The Company appoints the Trustee as Securities Registrar and Paying Agent with respect to the Notes. The Place of Payment for the Notes will be
as specified in the Notes. 
 Section 2.08. No Sinking Fund 

The Notes shall not be subject to Article Thirteen of the Base Indenture. 

Section 2.09. Subordination 
 The
subordination provisions of Article Eleven of the Base Indenture shall apply to the Notes, except that solely for purposes of the Notes, Section 1103 of the Base Indenture shall be amended as follows: 

(a) Clauses (a) and (b) of Section 1103 of the Base Indenture shall be deleted and replaced with the following: 

“(a) (1) In the event and during the continuation of any default in the payment of principal, premium, if any, or interest on any
Senior Indebtedness beyond any applicable grace period with respect thereto, (2) in the event that any event of default with respect to any Senior Indebtedness shall have occurred and be continuing, permitting the direct holders of that Senior
Indebtedness (or a trustee on behalf of the holders thereof) to accelerate maturity of that Senior Indebtedness, whether or not the maturity is in fact accelerated (unless, in the case of either subclause (1) or (2) of this clause (a), the
payment default or event of default has been cured or waived or ceased to exist and any related acceleration has been rescinded), or (3) in the event that any judicial proceeding shall be pending with respect to a payment default or event of
default described in subclause (1) or (2) of this clause (a), no payment or distribution of any kind or character, whether in cash, securities or other property, shall be made by the Company on account of the principal of or interest on
the Notes unless and until all amounts then due and payable in respect of such Senior Indebtedness, including any interest accrued after such event occurs, shall have been paid in full.” 

(b) Clause “(c)” of Section 1103 of the Base Indenture shall be renumbered clause “(b)”; and 

(c) Clause “(d)” of Section 1103 of the Base Indenture shall be renumbered clause “(c)”. 

  
 10 

 Section 2.10. Senior Indebtedness 

Solely for the purposes of the Notes, the definition of “Senior Indebtedness” in Section 101 of the Base Indenture shall be
deleted and replaced by the following: 
 “Senior Indebtedness” means the principal of, premium, if any, and interest on
and any other payment due pursuant to any of the following, whether Incurred on or prior to the date hereof or hereafter Incurred: 

(i) all obligations of the Company (other than obligations pursuant to the Notes and obligations pursuant to the Indenture with
respect thereto) for money borrowed; 
 (ii) all obligations of the Company evidenced by securities, notes, debentures, bonds
or other similar instruments (other than the Notes), including obligations Incurred in connection with the acquisition of property, assets or businesses; 

(iii) all capital lease obligations of the Company; 

(iv) all reimbursement obligations of the Company with respect to letters of credit, bankers’ acceptances or similar
facilities issued for the account of the Company; 
 (v) all obligations of the Company issued or assumed as the deferred
purchase price of property or services, including all obligations under master lease transactions pursuant to which the Company or any of its subsidiaries have agreed to be treated as owner of the subject property for U.S. federal income tax
purposes; 
 (vi) all payment obligations of the Company under interest rate swap or similar agreements or foreign currency
hedge, exchange or similar agreements at the time of determination, including any such obligations Incurred by the Company solely to act as a hedge against increases in interest rates that may occur under the terms of other outstanding variable or
floating rate indebtedness of the Company; and 
 (vii) all obligations of the type referred to in clauses (i) through
(vi) above of another Person and all dividends of another Person the payment of which, in either case, the Company has assumed or guaranteed or for which the Company is responsible or liable, directly or indirectly, jointly or severally, as
obligor, guarantor or otherwise; 
 provided, however, that “Senior Indebtedness” shall not include:
(1) obligations to trade creditors created or assumed by the Company in the ordinary course of business, (2) indebtedness that is by its terms subordinate, or not superior, in right of payment to the Notes or (3) the Company’s
Pari Passu Securities.” 
 Section 2.11. Defeasance 

The provisions of Section 1402 of the Base Indenture (relating to discharge of the Indenture) shall apply to the Notes. For purposes of
Section 1404(2) of the Base Indenture as applicable to the Notes, the Opinion of Counsel referred to therein shall be an independent counsel satisfactory to the Trustee, and the words “gain or loss” in the eighth line of
Section 1404(2) shall be replaced by the words “income, gain or loss”. 

  
 11 

 ARTICLE THREE 

Covenants 
 Section 3.01. Dividend
and Other Payment Stoppages 
 So long as any Notes remain outstanding, (a) if the Company has given notice of its election to defer
interest payments on the Notes but the related Deferral Period has not yet commenced, or (b) a Deferral Period is continuing, the Company shall not, and shall not permit any Subsidiary to: 

(i) declare or pay any dividends or other distributions on, or redeem, purchase, acquire or make a liquidation payment with
respect to, any shares of capital stock of the Company; 
 (ii) make any payment of principal of, or interest or premium, if
any, on, or repay, purchase or redeem any of the Company’s debt securities that rank upon the Company’s liquidation on a parity with or junior to the Notes; or 

(iii) make any guarantee payments regarding any guarantee issued by the Company of securities of any Subsidiary if the
guarantee ranks upon the Company’s liquidation on a parity with or junior to the Notes; 
 provided, however, the restrictions in clauses
(i), (ii) and (iii) above do not apply to: 
 (A) any purchase, redemption or other acquisition of shares of its
capital stock by the Company in connection with: 
 (1) any employment contract, benefit plan or other similar arrangement
with or for the benefit of any one or more of its employees, officers, directors, consultants or independent contractors; 

(2) the satisfaction of the Company’s obligations pursuant to any contract entered into prior to the beginning of the
applicable Deferral Period; 
 (3) a dividend reinvestment or shareholder purchase plan; or 

(4) the issuance of shares of the Company’s capital stock, or securities convertible into or exercisable for such shares,
as consideration in an acquisition transaction, the definitive agreement for which is entered into prior to the applicable Deferral Period; 

(B) any exchange, redemption or conversion of any class or series of the Company’s capital stock, or shares of the capital
stock of one of its Subsidiaries, for any other class or series of the Company’s capital stock, or of any class or series of the Company’s indebtedness for any class or series of the Company’s capital stock; 

  
 12 

 (C) any purchase of fractional interests in shares of the Company’s capital
stock pursuant to the conversion or exchange provisions of such shares or the securities being converted or exchanged; 
 (D)
any declaration of a dividend in connection with any shareholder rights plan, or the issuance of rights, stock or other property under any shareholder rights plan, or the redemption or purchase of rights pursuant thereto; or 

(E) any dividend in the form of stock, warrants, options or other rights where the dividend stock issuable upon exercise of
such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock; or 

(F) (i) any payment of current or deferred interest on Parity Securities that is made pro rata to the amounts due on
such Parity Securities (including the Notes) and (ii) any payments of principal or current or deferred interest on Parity Securities that, if not made, would cause the Company to breach the terms of the instrument governing such Parity
Securities. 
 For the avoidance of doubt, notwithstanding anything herein to the contrary, no terms of the Notes will restrict in any
manner the ability of any of the Subsidiaries to pay dividends or make any distributions to the Company or to any other Subsidiaries. 

ARTICLE FOUR 
 Redemption
of the Notes 
 Section 4.01. Redemption 

(a) The Notes shall be redeemable in accordance with the procedures set forth in Article Twelve of the Base Indenture: 

(i) in whole at any time or in part from time to time on or after May 15, 2025, at 100% of the principal amount of the
Notes being redeemed plus accrued and unpaid interest to but excluding the Redemption Date, provided that no partial redemption shall be effected unless (A) at least $25 million aggregate principal amount of the Notes, excluding any
Notes held by the Company or any of its Affiliates, shall remain outstanding after giving effect to such redemption and (B) all accrued and unpaid interest, including deferred interest, shall have been paid in full on all Outstanding Notes for
all Interest Periods terminating on or before the Redemption Date; 
 (ii) in whole, but not in part, at any time prior to
May 15, 2025, within 90 days after the occurrence of a Tax Event or a Rating Agency Event at the greater of (A) 100% of the principal amount of the Notes being redeemed and (B) the Make-Whole Redemption Price, in each case plus
accrued and unpaid interest to but excluding the Redemption Date; or 
 (iii) in whole, but not in part, at any time prior to
May 15, 2025, within 90 days after the occurrence of a Regulatory Capital Event at 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest to but excluding the Redemption Date. 

(b) In the event the Notes are treated as “Tier 2 capital” (or a substantially similar concept) under the capital rules of any
Capital Regulator applicable to the Company, any redemption of the Notes shall be subject to the Company’s receipt of any required prior approval from such Capital Regulator and to the satisfaction of any conditions set forth in those capital
rules or any other applicable regulations of any other Capital Regulator that are or will be applicable to the Company’s redemption of the Notes. 

  
 13 

 ARTICLE FIVE 

Original Issue of Notes 

Section 5.01. Calculation of Original Issue Discount 

If during any calendar year any original issue discount shall have accrued on the Notes, the Company shall file with each Paying Agent
(including the Trustee if it is a Paying Agent) promptly at the end of each calendar year (a) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of
the end of such year and (b) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time, or Treasury Regulations enacted thereunder, or
other administrative or judicial guidance. 
 ARTICLE SIX 

Supplemental Indentures 

Section 6.01. Supplemental Indentures without Consent of Holders 

Solely for purposes of the Notes, Section 901 of the Base Indenture shall be deleted and replaced with the following: 

“Section 901. Supplemental Indentures without Consent of Holders. 

Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from
time to time, may supplement or amend the Indenture for any of the following purposes: 
 (1) to evidence the succession of
another Person to the Company and the assumption by any such successor of the covenants of the Company herein and in the Notes; or 

(2) to add to or modify the covenants of the Company for the benefit of the Holders of Notes or to surrender any right or power
herein conferred upon the Company (including the Company’s surrendering, without limitation, of any redemption right, including the Company’s right to redeem the Notes upon the 

  
 14 

 
occurrence of the Rating Agency Event); provided that no such amendment or modification may add Events of Default or acceleration events with respect to the Notes; or 

(3) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Notes; or

 (4) to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any
other provision herein or in any supplemental indenture, or to make any other provisions with respect to matters or questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders of Notes
in any material respect; or 
 (5) to make any changes to the Indenture in order to conform the Indenture to the final
prospectus supplement provided to investors in connection with the offering of the Notes.” 
 Section 6.02. Supplemental Indentures with
Consent of Holders 
 Solely for purposes of the Notes, clauses (1) through (3) of Section 902(a) of the Base Indenture
shall be deleted and replaced with the following clauses (1) through (6): 
 “(1) change the Stated Maturity of any
payment of principal of or interest (including any additional interest) on the Notes; 
 (2) change the manner of calculating
payments due on the Notes in a manner adverse to Holders; 
 (3) reduce the requirements contained in the Indenture for
quorum or voting; 
 (4) change the Place of Payment for any payment on the Notes that is adverse to the Holders or change
the currency in which any payment on the Notes is payable; 
 (5) impair the right of any Holder to institute suit for the
enforcement of any payment on the Notes; 
 (6) reduce the percentage in principal amount of Outstanding Notes, the consent
of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver of compliance with certain provisions of the Indenture or certain defaults hereunder and their consequences; 

(7) reduce the principal amount of, the rate of interest on or any premium payable upon the redemption of the Notes; or 

(8) modify any of the provisions of this Section.” 

  
 15 

 ARTICLE SEVEN 

Miscellaneous 
 Section 7.01.
Effectiveness 
 This Supplemental Indenture will become effective upon its execution and delivery. 

Section 7.02. Successors and Assigns 

All covenants and agreements in the Base Indenture, as supplemented and amended by this Supplemental Indenture, by the Company shall bind its
successors and assigns, whether so expressed or not. 
 Section 7.03. Effect of Recitals 

The recitals contained herein and in the Notes, except the Trustee’s certificates of authentication, shall be taken as the statements of
the Company, and the Trustee does not assume any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes. The Trustee shall not be accountable for
the use or application by the Company of the Notes or the proceeds thereof. 
 Section 7.04. Ratification of Indenture 

The Base Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture
shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 
 Section 7.05. Tax Treatment 

The Company and, by acceptance of the Notes or a beneficial interest in the Notes, each Holder and beneficial owner of a Note agree to treat
the Notes as indebtedness for United States federal income tax purposes. 
 Section 7.06. Governing Law 

This Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York. 

Section 7.07. Severability 
 If any
provision of the Base Indenture, as supplemented and amended by this Supplemental Indenture, shall be held or deemed to be or shall, in fact, be illegal, inoperative or unenforceable, the same shall not affect any other provision or provisions
herein contained or render the same invalid, inoperative or unenforceable to any extent whatever. 

  
 16 

 Section 7.08. Consequential Damages and Force Majeure 

(a) In no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever
(including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(b) In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising
out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services, so long as the Trustee maintains and updates from time to time business continuation and disaster recovery procedures that it determines
meet the standards of the industry; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

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

  
 17 

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

			
	PRUDENTIAL FINANCIAL, INC.
		
	By:		 /s/ Cathleen M. Paugh

	Name:		Cathleen M. Paugh
	Title:		Vice President and Assistant Treasurer

  
 [Signature Page to
Tenth Supplemental Indenture] 

 
			
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	By:		 /s/ Laurence J. O’Brien

	Name:		Laurence J. O’Brien
	Title:		Vice President

  
 [Signature Page to
Tenth Supplemental Indenture] 

 EXHIBIT A 

FORM OF NOTE 
 THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS
SECURITY 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 INDENTURE. 

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. 
  

					
	No.             		Principal Amount:		$        
			
	Issue Date:                     		CUSIP: 744320 AV4		

 PRUDENTIAL FINANCIAL, INC. 

5.375% FIXED-TO-FLOATING RATE JUNIOR SUBORDINATED NOTES DUE 2045 

Prudential Financial, Inc., a corporation organized and existing under the laws of the State of New Jersey (hereinafter called the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                     or registered assigns, the principal sum of
                     dollars ($        ) on May 15, 2045 (the “Maturity Date”), or
if such day is not a Business Day (as defined below), the following Business Day. 
 The Company further promises to pay interest on said
principal sum from and including May 18, 2015 to but excluding May 15, 2025, at the annual rate of 5.375%, (computed on the basis of a 360-day year consisting of twelve 30-day months) semi-annually in arrears on May 15 and
November 15 of each year, beginning on November 15, 2015 (each, a “Fixed-Rate Interest Payment Date”), subject to deferral as set forth herein. In the event that any Fixed-Rate Interest Payment Date falls on a day that is
not a Business Day, the interest payment due on that date will be postponed to the next day that is a Business Day, and no interest will accrue as a result of that postponement. From and including May 15, 2025 until the principal thereof is
paid or made available for payment, the Company promises to pay such interest at an annual rate 

  
 A-1 

 
equal to Three-Month LIBOR (as defined in said Indenture) plus 3.031%, (computed on the basis of a 360-day year and the actual number of days elapsed) quarterly in arrears on
February 15, May 15, August 15 and November 15, beginning on August 15, 2025, or if any of these days is not a Business Day, on the next Business Day, except that if such Business Day is in the next succeeding
calendar month, the immediately preceding Business Day (each, a “Floating-Rate Interest Payment Date”, and each Fixed Rate Interest Payment Date and each Floating Rate Interest Payment Date being hereinafter referred to as an
“Interest Payment Date”), subject to deferral as set forth herein. A “Business Day” shall mean any day other than (i) a Saturday or Sunday, (ii) a day on which banking institutions in The City of New York
are authorized or required by law or executive order to remain closed, (iii) a day on which the Corporate Trust Office is closed for business or (iv) on or after May 15, 2025, a day that is not a London Banking Day. “London
Banking Day” means any day on which commercial banks are open for general business (including dealings in deposits in U.S. dollars) in London, England. Defaulted Interest and interest deferred pursuant to said Indenture will bear additional
interest to the extent permitted by law, at the rate in effect from time to time, from and including the relevant Interest Payment Date, compounded on each subsequent Interest Payment Date. 

The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, as provided in said Indenture, will 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, in connection with a Fixed-Rate Interest Payment Date, the
May 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date, and in connection with a Floating-Rate Interest Payment Date, the
February 1, May 1, August 1 or November 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall
forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid, in the case of deferred interest, as provided in the following paragraph, and otherwise 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 Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in said Indenture. 
 So long as no Event of Default with respect to this Security has occurred or
is continuing, the Company shall have the right at any time during the term of this Security to defer payment of interest on this Security for one or more consecutive Interest Periods that do not exceed five years for any single Deferral Period,
during which the Company shall have the right to make partial payments of interest on any Interest Payment Date, and at the end of which the Company shall pay all interest then accrued and unpaid; provided, however, that no Deferral
Period shall extend beyond the Maturity Date or the earlier accelerated maturity date arising from an Event of Default or redemption of this Security. Upon the termination of any Deferral Period and upon the payment of all deferred interest then
due, the Company may elect to begin a new Deferral Period, subject to the above requirements. 

  
 A-2 

 So long as any Securities of this series remain outstanding, if the Company has given notice of
its election to defer interest payments on the Securities but the related Deferral Period has not yet commenced or a Deferral Period is continuing, the Company shall not, and shall not permit any Subsidiary to, (i) declare or pay any dividends
or other distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any shares of the Company’s capital stock, (ii) make any payment of principal of, or interest or premium, if any, on or repay, purchase
or redeem any debt securities of the Company that rank upon the Company’s liquidation on a parity with this Security (including the Company’s 5.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2042, the Company’s 5.625%
Fixed-to-Floating Rate Junior Subordinated Notes due 2043, the Company’s 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044, the Company’s 5.75% Junior Subordinated Notes due 2052, the Company’s 5.70% Junior Subordinated
Notes due 2053 and the Company’s 8.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2068 (the “Pari Passu Securities”) or junior to this Security or (iii) make any guarantee payments regarding any guarantee
issued by the Company of securities of any Subsidiary if the guarantee ranks upon the Company’s liquidation on a parity with or junior to this Security (other than (a) any purchase, redemption or other acquisition of shares of its capital
stock in connection with (1) any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more of its employees, officers, directors, consultants or independent contractors, (2) the satisfaction
of the Company’s obligations pursuant to any contract entered into prior to the beginning of the applicable Deferral Period, (3) a dividend reinvestment or shareholder purchase plan, or (4) the issuance of shares of the Company’s
capital stock, or securities convertible into or exercisable for such shares, as consideration in an acquisition transaction entered into prior to the applicable Deferral Period, (b) any exchange, redemption or conversion of any class or series
of the Company’s capital stock, or the capital stock of one of its Subsidiaries, for any other class or series of its capital stock, or of any class or series of its indebtedness for any class or series of its capital stock, (c) any
purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such shares or the securities being converted or exchanged, (d) any declaration of a dividend in connection with
any shareholder rights plan, or the issuance of rights, stock or other property under any shareholder rights plan, or the redemption or purchase of rights pursuant thereto, (e) any dividend in the form of stock, warrants, options or other
rights where the dividend stock or stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock, or (f) (1) any payment
of current or deferred interest on Parity Securities that is made pro rata to the amounts due on such Parity Securities (including the Notes), and (2) any payments of principal or current or deferred interest on Parity Securities that, if not
made, would cause the Company to breach the terms of the instrument governing such Parity Securities). 
 The Company shall give written
notice of its election to commence or continue any Deferral Period to the Trustee and the Holders of all Securities of this series then Outstanding at least one Business Day and not more than 60 Business Days before the next Interest Payment Date.
Such notice shall be given to the Trustee and the Holder of this Security at such Holder’s address appearing in the Security Register by first-class mail, postage prepaid. 

Payment of the principal of (and premium, if any) and interest on this Security will be made at the paying agency office or agency of the
Company maintained for that purpose 

  
 A-3 

 
in the United States, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however,
that, at the option of the Company, payment of interest may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Securities Register or (ii) by wire transfer in immediately available
funds at such place and to such bank account number as may be designated by the Person entitled thereto as specified in the Securities Register in writing not less than ten days before the relevant Interest Payment Date. 

The indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the
prior payment in full of all Senior Indebtedness, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on such Holder’s behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee such Holder’s
attorney-in-fact for any and all such purposes. Each Holder hereof, by such Holder’s acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior
Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such Holder upon said provisions. 
 The Company
and, by acceptance of this Security or a beneficial interest in this Security, each Holder and beneficial owner of this Security agree to treat this Security as indebtedness for United States federal income tax purposes. 

By acceptance of this Security or a beneficial interest in this Security, each Holder hereof and any person acquiring a beneficial interest
herein, agree that either (A) no portion of the assets used by such purchaser to acquire and hold this Security or a beneficial interest in this Security constitutes assets of any (i) employee benefit plan subject to Title I of the U.S.
Employee Retirement Income Security Act of 1974, as amended (“ERISA”), (ii) any plan, individual retirement accounts and other arrangement subject to Section 4975 of the U.S. Internal Revenue Code of 1986, as amended (the
“Code”) or provisions under any federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code (collectively, “Similar Laws”), and (iii) entities whose
underlying assets are considered to include “plan assets” of any such plan, account or arrangement within the meaning of Section 3(42) of ERISA as modified by 29 CFR § 2510.3-101 or under any applicable Similar Laws or
(B) the purchase and holding of this Security or a beneficial interest in this Security by such purchaser will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a similar
violation under any applicable Similar Laws. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-4 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Date: 
  

			
	PRUDENTIAL FINANCIAL, INC.
		
	By:		  

	Name:		
	Title:		

  

			
	Attest:		  

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

Date: 
  

			
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	By		  

	Authorized Officer

  
 A-5 

 (FORM OF REVERSE OF NOTE) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to
be issued in one or more series under the Indenture, dated as of June 17, 2008 (herein called the “Base Indenture”), between the Company and The Bank of New York Mellon (formerly known as The Bank of New York), as trustee (the
“Trustee”), as amended and supplemented by the Tenth Supplemental Indenture, dated as of May 18, 2015, between the Company and the Trustee (the “Supplemental Indenture”, and together with the Base Indenture,
the “Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Trustee, the
Company, the holders of the Senior Indebtedness and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. By the terms of the Indenture, the Securities are issuable in series that
may vary as to amount, date of maturity, rate of interest, rank and in any other respect provided in the Indenture. 
 All terms used in
this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 The Securities of this series
shall be redeemable at the election of the Company in accordance with the terms of the Indenture. In particular, this Security is redeemable: 

(a) in whole at any time or in part from time to time on or after May 15, 2025, at a redemption price equal to 100% of the
principal amount of the Securities being redeemed plus accrued and unpaid interest to but excluding the Redemption Date; provided that if the Securities of this series are not redeemed in whole, at least $25 million aggregate principal amount
of the Outstanding Securities of this series remain outstanding after giving effect to such redemption; 
 (b) in whole, but
not in part, at any time prior to May 15, 2025, within 90 days after the occurrence of a Tax Event or a Rating Agency Event, at a redemption price equal to the greater of (i) 100% of the principal amount of the Securities being redeemed or
(ii) the Make-Whole Redemption Price, in each case plus accrued and unpaid interest to but excluding the Redemption Date; or 

(c) in whole, but not in part, at any time prior to May 15, 2025, within 90 days after the occurrence of a Regulatory
Capital Event, at a redemption price equal to 100% of the principal amount of the Securities being redeemed plus accrued and unpaid interest to but excluding the Redemption Date. 

Notwithstanding the foregoing, the Company may not redeem the Securities of this series in part unless all accrued and unpaid
interest, including deferred interest, has been paid in full on all Outstanding Securities of this series for all Interest Periods terminating on or before the Redemption Date. 

In the event of a redemption of this Security in part only, a new Security or Securities of this Series and of a like tenor for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

  
 A-6 

 No sinking fund is provided for the Securities. 

The Indenture contains provisions for satisfaction and discharge of the entire indebtedness of this Security upon compliance by the Company
with certain conditions set forth in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the Company and
the Trustee at any time to enter into a supplemental indenture or indentures for the purpose of modifying in any manner the rights and obligations of the Company and of the Holders of the Securities, with the consent of the Holders of not less than
a majority in principal amount of the Outstanding Securities to be affected by such supplemental indenture. The Indenture also contains provisions permitting Holders of specified percentages in principal amount of the Securities at the time
Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of
this 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, if an Event of Default as
set forth in the Indenture occurs, the principal amount of the Securities shall automatically become due and payable; provided that in any such case the payment of principal and interest on such Securities shall remain subordinated to the
extent provided in Article Eleven of the Base Indenture. 
 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 (and premium, if any) and interest on this Security at the times, place and rate, and in the coin or currency, herein
prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is
registrable in the Securities Register, upon surrender of this Security for registration of transfer at the office or agency of the Company maintained under Section 1002 of the Base Indenture duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Securities 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. 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 shall have the right to treat and shall 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. 

  
 A-7 

 The Securities are issuable only in registered form without coupons in minimum denominations of
$2,000 and any integral multiples of $1,000 in excess 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. 
 THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 A-8 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this 

Security to: 
  

	
	  

	  

	  

	  

	(Insert assignee’s social security or tax identification number)
	
	  

	  

	  
 (Insert address and zip code of assignee)

  

			
	hereby irrevocably constituting and appointing		  

	agent to transfer this Security on the books of the Securities Registrar. The agent may substitute another to act for him or her.

  

							
	Dated:						Signature:
				
							  

				
							Signature Guarantee:

 (Sign exactly as your name appears on the other side of this Security) 

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

  
 A-9KWK 10-Q 2015.03.31 EX4.1

Exhibit 4.1

Execution Version

TWENTY-FIFTH SUPPLEMENTAL INDENTURE
This TWENTY-FIFTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of March 16, 2015, among Quicksilver Resources Inc., a Delaware corporation (the “Company”); the Subsidiary Guarantors (as defined in the Indenture referred to herein); The Bank of New York Mellon Trust Company, N.A., a national banking association duly organized and existing under the laws of the United States of America, as trustee (the “Resigning Trustee”); U.S. Bank National Association, a national banking association duly organized and existing under the laws of the United States of America, as succeeding trustee under the Base Indenture and with respect to the 2019 Notes referred to below (the “First Successor Trustee”); and Wilmington Trust, National Association, a national banking association, as succeeding trustee with respect to the Subordinated Notes referred to below (the “Second Successor Trustee”; and together with the First Successor Trustee, the “Successor Trustees”).
RECITALS
WHEREAS, there are presently outstanding under that certain Indenture, dated as of December 22, 2005 (the “Base Indenture”; as supplemented as of the date hereof, the “Indenture”), between the Issuer and the Resigning Trustee, (i) $350,000,000 in aggregate principal amount of 71⁄8% Senior Subordinated Notes due 2016 (the “Subordinated Notes”), issued pursuant to that certain First Supplemental Indenture to the Base Indenture, dated March 16, 2006 (the “First Supplemental Indenture”), among the Issuer, the guarantors party thereto and the Resigning Trustee and (ii) $298,000,000 in aggregate principal amount of 91⁄8% Senior Notes due 2019 (the “2019 Notes”; and together with the Subordinated Notes, the “Notes”), issued pursuant to that certain Eighth Supplemental Indenture to the Base Indenture, dated August 14, 2009 (the “Eighth Supplemental Indenture”), among the Issuer, the guarantors party thereto and the Resigning Trustee. 
WHEREAS, the Resigning Trustee wishes to resign (i) as trustee under the Base Indenture (the “Base Indenture Trustee”), (ii) as trustee under the Indenture (the “Trustee”), (iii) the office or agency pursuant to Section 2.05 of the Base Indenture where the Security Register is maintained and the Notes may be surrendered for registration of transfer or exchange (the “Registrar”), (iv) the office or agency pursuant to Section 1.09 of the First Supplemental Indenture where the Subordinated Notes may be presented or surrendered for payment (the “Subordinated Notes Paying Agent”), (v) the office or agency pursuant to Section 1.09 of the Eighth Supplemental Indenture where the 2019 Notes may be presented or surrendered for payment (the “2019 Notes Paying Agent” and, together with the Subordinated Notes Paying Agent, the “Paying Agent”)  and (vi) the office or agency where notices and demands to or upon the Issuer in respect of the Notes and the Indenture may be served (the “Agent”), in each case, for all the Notes under the Indenture.
WHEREAS, the Issuer wishes to appoint the First Successor Trustee to succeed the Resigning Trustee as the Base Indenture Trustee; and the First Successor Trustee wishes to accept appointment as the Base Indenture Trustee.
WHEREAS, the Issuer wishes to appoint the First Successor Trustee to succeed the Resigning Trustee as Trustee, Registrar, Paying Agent and Agent for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes); and the First Successor Trustee wishes to accept 

    

appointment as Trustee, Registrar, Paying Agent and Agent for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes).
WHEREAS, the Issuer wishes to appoint the Second Successor Trustee to succeed the Resigning Trustee as Trustee, Registrar, Paying Agent and Agent for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes); and the Second Successor Trustee wishes to accept appointment as Trustee, Registrar, Paying Agent and Agent for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes).
WHEREAS, Section 10.01 of the Base Indenture provides that the Company, the Subsidiary Guarantors and the Trustee may amend or supplement the Indenture without the consent of or notice to any Holders to, among other things, “evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as may be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 9.10.”
WHEREAS, Section 9.10 of the Base Indenture provides that
[i]n 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 will execute and deliver an indenture supplemental hereto wherein such successor Trustee will accept such appointment and which (i) will contain such provisions as may 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, (ii) will contain such provisions as may 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 will continue to be vested in the retiring Trustee, and (iii) will add to or change any of the provisions of this Indenture as may 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 will constitute such Trustees co-trustees of the same trust and that each such Trustee will be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustees and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee will become effective to the extent provided therein and each such successor Trustee, without any further act, deed, or conveyance, will 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.
WHEREAS, the only series of Securities outstanding under the Indenture are the 2019 Notes and the Subordinated Notes and, after giving effect to this Supplemental Indenture, 

there are no series of Securities outstanding under the Indenture with respect to which the Retiring Trustee will continue to serve as Trustee, Registrar, Paying Agent or Agent.
NOW, THEREFORE, in consideration of the mutual covenants and promises herein, the receipt and sufficiency of which are hereby acknowledged, the Issuer, the Resigning Trustee and each of the Successor Trustees agree as follows:
ARTICLE ONE
THE RESIGNING TRUSTEE
Section 101.  Pursuant to Section 9.09 of the Base Indenture, the Resigning Trustee hereby notifies the Issuer that the Resigning Trustee does hereby resign as Base Indenture Trustee, Trustee, Registrar, Paying Agent and Agent.  
Section 102.  The Resigning Trustee hereby represents and warrants to each of the Successor Trustees that:
(a)  No covenant or condition contained in the Indenture has been waived by the Resigning Trustee.
(b)  There is no action, suit or proceeding pending or, to the best of the knowledge of the Responsible Officers of the Resigning Trustee assigned to its corporate trust department, threatened against the Resigning Trustee before any court or governmental authority arising out of any action or omission by the Resigning Trustee as Trustee under the Indenture.
(c)  This Supplemental Indenture has been duly authorized, executed and delivered on behalf of the Resigning Trustee.
(d) $298,000,000 aggregate principal amount of the 2019 Notes is outstanding.
(e)  Interest on the 2019 Notes has been paid through August 15, 2014.
(f) $350,000,000 aggregate principal amount of the Subordinated Notes is outstanding.
(g)  Interest on the Subordinated Notes has been paid in full through October 1, 2014, and there is no overdue interest on the Subordinated Notes.
(h)   The Resigning Trustee has (i) received no notices of Defaults or Events of Default under the Indenture or (ii) provided any notices of Defaults or Events of Default to the holders of the Notes.
(i)  The Resigning Trustee has made, or promptly will make (but in no event later than ten days from the date of execution of this Supplemental Indenture), available to (i) the First Successor Trustee originals, if available, or copies in its possession, of all documents relating to the trusts created by the Indenture (insofar 

as it relates to the 2019 Notes) (the “2019 Notes Trusts”) and all information in the possession of its corporate trust department relating to the administration and status of the 2019 Trusts, including, without limitation, a certified list of the current registered holders of the 2019 Notes (the “2019 Notes Certified Holders List”) and (ii) the Second Successor Trustee originals, if available, or copies in its possession, of all documents relating to the trusts created by the Indenture (insofar as it relates to the Subordinated Notes) (the “Subordinated Notes Trusts”) and all information in the possession of its corporate trust department relating to the administration and status of the Subordinated Notes Trusts, including, without limitation, a certified list of the current registered holders of the Subordinated Notes (the “Subordinated Notes Certified Holders List”). 
(j)  As of the effective date of this Supplemental Indenture, the Resigning Trustee holds no property or money under the Indenture.
(k) The Corporate Trust Office of the Resigning Trustee is 601 Travis Street, 16th Floor, Houston, Texas, 77002 (fax: 713-483-6979) Attention: Rafael Martinez.
(l)  No Securities other than the 2019 Notes and the Subordinated Notes are outstanding under the Indenture.
Section 103.  The Resigning Trustee hereby assigns, transfers, delivers and confirms to the First Successor Trustee all right, title and interest of the Resigning Trustee in and to (i) the Base Indenture and the Indenture (insofar as it relates to the 2019 Notes), (ii) the 2019 Notes Trusts and (iii) all the rights, powers, trusts and duties of the Trustee under the Indenture (insofar as it relates to the 2019 Notes), including the Eighth Supplemental Indenture.  

Section 104.  The Resigning Trustee hereby assigns, transfers, delivers and confirms to the Second Successor Trustee all right, title and interest of the Resigning Trustee in and to (i) the Indenture (insofar as it relates to the Subordinated Notes), (ii) the Subordinated Notes Trusts and (iii) all the rights, powers, trusts and duties of the Trustee under the Indenture (insofar as it relates to the Subordinated Notes), including the First Supplemental Indenture. 
Section 105.  The Resigning Trustee hereby acknowledges payment or provision for payment in full by the Issuer of compensation for all services rendered by the Resigning Trustee under the Indenture and reimbursement in full by the Issuer of the expenses, disbursements and advances incurred or made by the Resigning Trustee in accordance with the provisions of the Indenture.
Section 106.  For the avoidance of doubt, this Supplemental Indenture shall not constitute an assumption by either of the Successor Trustees of any liabilities of the Resigning Trustee arising out of or related to any action or omission by the Resigning Trustee prior to its resignation of its duties under the Indenture or otherwise, and that neither of the Successor Trustees shall bear any responsibility or liability arising out of or related to any such action or omission.

ARTICLE TWO
THE ISSUER

Section 201.  The Issuer hereby accepts the resignation of the Resigning Trustee as (i) the Base Indenture Trustee and (ii) Trustee, Registrar, Paying Agent and Agent for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes).  Pursuant to Section 9.09(e) of the Base Indenture, the Issuer hereby appoints the First Successor Trustee as (i) the Base Indenture Trustee and (ii) the Trustee, Registrar, Paying Agent and Agent for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes), including the Eighth Supplemental Indenture, and confirms to the First Successor Trustee all the rights, powers, trusts and duties of (A) the Base Indenture Trustee and (B) the Trustee under the Indenture (insofar as it relates to the 2019 Notes), including the Eighth Supplemental Indenture.  The Issuer shall execute and deliver such further instruments and shall do such other things as the First Successor Trustee may reasonably require so as to more fully and certainly vest and confirm in the First Successor Trustee all the rights, powers, trusts and duties hereby assigned, transferred, delivered and confirmed to the First Successor Trustee.

Section 202.  The Issuer hereby accepts the resignation of the Resigning Trustee as Trustee, Registrar, Paying Agent and Agent for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes).  Pursuant to Section 9.09(e) of the Base Indenture, the Issuer hereby appoints the Second Successor Trustee as Trustee, Registrar, Paying Agent and Agent for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes), including the First Supplemental Indenture, and confirms to the Second Successor Trustee all the rights, powers, trusts and duties of the Trustee under the Indenture (insofar as it relates to the Subordinated Notes), including the First Supplemental Indenture.  The Issuer shall execute and deliver such further instruments and shall do such other things as the Second Successor Trustee may reasonably require so as to more fully and certainly vest and confirm in the Second Successor Trustee all the rights, powers, trusts and duties hereby assigned, transferred, delivered and confirmed to the Second Successor Trustee.

Section 203.  The Issuer hereby represents and warrants to each of the Successor Trustees that:
(a)  It is a corporation duly and validly organized and existing pursuant to the laws of the State of Delaware.
(b)  The Indenture was validly and lawfully executed and delivered by the Issuer and is in full force and effect.
(c)  The 2019 Notes are validly issued securities of the Issuer. 
(d)  The Subordinated Notes are validly issued securities of the Issuer.
(e)  Except for the failure of the Issuer to pay interest due with respect to the 2019 Notes on February 17, 2015 (without giving effect to the applicable grace period), no other event has occurred and is continuing which is, or after notice or 

lapse of time would become, an Event of Default under Section 8.01 of the Base Indenture, Article IV of the Eighth Supplemental Indenture or Article V of the First Supplemental Indenture.
(f)  No covenant or condition contained in the Indenture has been waived by the Issuer or by the Holders of the percentage in aggregate principal amount of the 2019 Notes required to effect any such waiver.
(g)  No covenant or condition contained in the Indenture has been waived by the Issuer or by the Holders of the percentage in aggregate principal amount of the Subordinated Notes required to effect any such waiver.
(h)  There is no action, suit or proceeding pending or, to the best of the Issuer’s knowledge, threatened against the Issuer before any court or any governmental authority arising out of any action or omission by the Issuer under the Indenture.
(i)  This Supplemental Indenture has been duly authorized, executed and delivered on behalf of the Issuer, and constitutes its legal, valid and binding obligation. Attached hereto as Exhibit A is a copy of resolutions duly adopted by the Board of Directors of the Issuer, which resolutions are in full force and effect on the date hereof, authorizing certain officers of the Issuer to, among other things, accept the resignation of the Resigning Trustee, appoint each of the Successor Trustees and execute and deliver this Supplemental Indenture.
(j)  All conditions precedent relating to the appointment of the First Successor Trustee, as successor Base Indenture Trustee under the Indenture have been complied with by the Issuer.
(k)  All conditions precedent relating to the appointment of each of the Successor Trustees, as successor Trustee, Registrar, Paying Agent and Agent with respect to the applicable series of Notes under the Indenture have been complied with by the Issuer.
ARTICLE THREE
THE SUCCESSOR TRUSTEES
Section 301.  The First Successor Trustee hereby represents and warrants to the Resigning Trustee and to the Issuer that the First Successor Trustee is qualified and eligible under Section 9.08 of the Base Indenture to act as (i) the Base Indenture Trustee and (ii) the Trustee for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes).  
Section 302.  Pursuant to Section 9.10 of the Base Indenture, the First Successor Trustee hereby accepts its appointment as (i) the Base Indenture Trustee and (ii) the Trustee for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes), including the Eighth Supplemental Indenture, and shall hereby be vested with all the rights, powers, trusts and duties of (i) the Base Indenture Trustee and (ii) the Trustee under the Indenture (insofar as it relates to the 2019 Notes).  References (and the definition of) in the Indenture (insofar as they relate to the 2019 

Notes) to the “Corporate Trust Office” or similar terms shall be deemed to refer to the Corporate Trust Office of the First Successor Trustee at U.S. Bank National Association, Nevada Financial Center, 2300 W. Sahara, Suite 200, Las Vegas, Nevada 89102 (fax: 702-251-1660), Attention: Sandra Spivey, or any other office to the First Successor Trustee at which, at any particular time, its corporate trust business shall be administered.
Section 303.  The First Successor Trustee hereby accepts its appointment as Registrar, Paying Agent and Agent for all the 2019 Notes under the Indenture (insofar as it relates to the 2019 Notes), including the Eighth Supplemental Indenture.
Section 304.  The Second Successor Trustee hereby represents and warrants to the Resigning Trustee and to the Issuer that the Second Successor Trustee is qualified and eligible under Section 9.08 of the Base Indenture to act as Trustee for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes).
Section 305. Pursuant to Section 9.10 of the Base Indenture, the Second Successor Trustee hereby accepts its appointment as Trustee for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes), including the First Supplemental Indenture, and shall hereby be vested with all the rights, powers, trusts and duties of the Trustee under the Indenture (insofar as it relates to the Subordinated Notes).  References in the Indenture (insofar as they relate to the Subordinated Notes) to the “Corporate Trust Office” or similar terms shall be deemed to refer to the Corporate Trust Office of the Second Successor Trustee at Wilmington Trust, National Association, 50 South Sixth Street, Suite 1290, Minneapolis, Minnesota 55402 (fax: 612-217-5651), Attention: Peter Finkel, or any other office to the Second Successor Trustee at which, at any particular time, its corporate trust business shall be administered.
Section 306.  The Second Successor Trustee hereby accepts its appointment as Registrar, Paying Agent and Agent for all the Subordinated Notes under the Indenture (insofar as it relates to the Subordinated Notes), including the First Supplemental Indenture.  The office of the Registrar and the office of the Paying Agent for all the Subordinated Notes is Wilmington Trust, National Association, Rodney Square North, 1100 North Market St., Wilmington, Delaware 19801.
Section 307.  Promptly after the execution and delivery of this Supplemental Indenture, the First Successor Trustee, on behalf of the Issuer, shall cause a notice, the form of which are annexed hereto marked Exhibit B, to be sent to each Holder of the 2019 Notes in accordance with Section 9.09(f) of the Base Indenture and Section 6.02 of the Eighth Supplemental Indenture.
Section 308.  Promptly after the execution and delivery of this Supplemental Indenture, the Second Successor Trustee, on behalf of the Issuer, shall cause a notice, the form of which are annexed hereto marked Exhibit C, to be sent to each Holder of the Subordinated Notes in accordance with Section 9.09(f) of the Base Indenture and Section 7.02 of the First Supplemental Indenture.    
Section 309.  References to the Trustee in the Indenture shall be deemed to refer to (i) the First Successor Trustee with respect to the 2019 Notes and (ii) the Second Successor Trustee with respect to the Subordinated Notes. Nothing in this Supplemental Indenture or in the Indenture will constitute the Successor Trustees co-trustees of the same trust and each Successor Trustee will 

be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by the other Successor Trustee.
Section 310.  For the avoidance of doubt, in its capacity as Trustee with respect to the 2019 Notes, the First Successor Trustee (i) shall not have any duties or obligations under or pursuant to the Indenture or the Base Indenture other than such duties or obligations as may be expressly set forth herein or therein and only insofar as they relate to the 2019 Notes and not to the Subordinated Notes and (ii) shall have all of the rights, immunities, indemnities and other protections granted to the Trustee under the Base Indenture and the Indenture (insofar as it relates to the 2019 Notes).  For the avoidance of doubt, in its capacity as Trustee with respect to the Subordinated Notes, the Second Successor Trustee (i) shall not have any duties or obligations under or pursuant to the Indenture or the Base Indenture other than such duties or obligations as may be expressly set forth herein or therein and only  insofar as they relate to the Subordinated Notes and not to the 2019 Notes and (ii) shall have all of the rights, immunities, indemnities and other protections granted to the Trustee under the Base Indenture and the Indenture (insofar as it relates to the Subordinated Notes).
Section 311.  For the avoidance of doubt, neither the First Successor Trustee nor the Second Successor Trustee shall have any responsibility or liability arising out of or related to any action or omission of the other.
ARTICLE FOUR
MISCELLANEOUS
Section 401.  Except as specifically modified herein, the Indenture, including Article IX of the Base Indenture, and the Notes are in all respects ratified and confirmed (mutatis mutandis) and shall remain in full force and effect in accordance with their terms.  In particular, the Issuer acknowledges and reaffirms its obligations to each of the Successor Trustees as set forth, and to the extent provided, in Section 9.06 of the Base Indenture; for the avoidance of doubt, the Issuer acknowledges that (i) it will indemnify each of the Successor Trustees and the Resigning Trustee for, and hold each of the Successor Trustees harmless against, any and all loss, liability, claim, or expense incurred without negligence or bad faith on its part arising out of or in connection with the acceptance or administration of the trust or trusts under the Indenture, 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 under the Indenture and (ii) when either of the Successor Trustees incurs expenses or renders services in connection with an Event of Default specified in Section 8.01(a)(vi) or Section 8.01(a)(vii) of the Base Indenture, the expenses (including the reasonable charges and expenses of its counsel) and the compensation for such services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law.  Notwithstanding anything to the contrary herein, none of the provisions of this Supplemental Indenture are intended to (x) adversely affect the interests of the Holders of Securities of any series in any material respect or (y) amend any of the subordination provisions of the Indenture that adversely affects the rights of any holder of Senior Indebtedness then outstanding and, in the case of (x) and (y), this Supplemental Indenture shall be construed and enforced to give effect the foregoing.

Section 402.  For the avoidance of doubt, all references in the Base Indenture, including without limitation Article VIII thereof, to payment of amounts due to the Trustee shall be deemed to refer to all amounts due to (i) the First Successor Trustee, with respect to the 2019 Notes, and (ii) the Second Successor Trustee, with respect to the Subordinated Notes.  Without limiting the generality of the foregoing, all money collected under the Indenture in respect of any series of Notes shall be applied under clause FIRST of Section 8.03 of the Base Indenture to the payment of all amounts referenced in the foregoing clauses (i) and (ii).  Notwithstanding anything to the contrary contained in the Indenture, amounts due to the Second Successor Trustee under the Indenture shall not be subordinated to the payment of any Indebtedness or other amounts due with respect to the 2019 Notes or any other Senior Indebtedness.  Also for the avoidance of doubt, notwithstanding anything to the contrary contained in the Indenture, for purposes of Section 8.02(c) of the Base Indenture, the distributions to Holders of Notes in a judicial proceeding as referenced in such section shall be deemed to refer to distributions (i) to the First Successor Trustee, for distribution to the Holders of the 2019 Notes, and (ii) to the Second Successor Trustee, for distribution to Holders of the Subordinated Notes, and such distributions shall be made accordingly unless the First Successor Trustee or the Second Successor Trustee, respectively, agrees otherwise.
Section 403.  This Supplemental Indenture and the resignation, appointments and acceptances effected hereby shall be effective as of the close of business on the date first above written; provided that the effective date for the transfer of the Registrar and Paying Agent duties shall not be effective until ten days after The Depository Trust Company is provided the required ten day notification of such transfer.
Section 404.  The Indenture shall henceforth no longer permit the issuance of any additional series of Securities (as defined in the Base Indenture) thereunder.
Section 405.  All capitalized terms used but not defined herein shall have the same respective meanings ascribed to them in the Indenture.
Section 406.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
Section 407.  The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.
Section 408.  The headings herein are inserted for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Supplemental Indenture.

[REMAINDER OF PAGE INTENTIONALLY BLANK]

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

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

    

	
		
	 
	COWTOWN PIPELINE FUNDING, INC.

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

	
		
	 
	COWTOWN PIPELINE MANAGEMENT, INC.

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

	
		
	 
	COWTOWN PIPELINE L.P.

By:  COWTOWN PIPELINE MANAGEMENT, INC. its general partner

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

    
[Signature Page—Twenty-Fifth Supplemental Indenture]

	
		
	 
	COWTOWN GAS PROCESSING L.P.

By:  COWTOWN PIPELINE MANAGEMENT, INC., its general partner

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

	
		
	 
	QPP PARENT LLC

By:  QUICKSILVER RESOURCES INC., 
its sole member

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

	
		
	 
	QPP HOLDINGS LLC

By:  QPP PARENT LLC, one of its members,
By:  Quicksilver Resources Inc., its sole member

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

	
		
	 
	By: QUICKSILVER RESOURCES INC., one of its members,

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

[Signature Page—Twenty-Fifth Supplemental Indenture]

            
            	
		
	 
	BARNETT SHALE OPERATING LLC

By: QUICKSILVER RESOURCES INC.,  
its member

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

	
		
	 
	SILVER STREAM PIPELINE COMPANY LLC

By:  QUICKSILVER RESOURCES INC., 
its member

	 
	 

	 
	By:  /s/ Vanessa Gomez LaGatta
Name:  Vanessa Gomez LaGatta
Title:    Senior Vice President - Chief Financial Officer and Treasurer

[Signature Page—Twenty-Fifth Supplemental Indenture]

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

By: /s/ J. Chris Matthews            
Name: J. Chris Matthews
Title:   Vice President

U.S. BANK NATIONAL ASSOCIATION, as First Successor Trustee

By: /s/ Sandra Spivey                
Name: Sandra Spivey
Title:   Vice President

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Second Successor Trustee

By: /s/ Peter Finkel                
Name: Peter Finkel
Title:   Vice President

[Signature Page—Twenty-Fifth Supplemental Indenture]

EXHIBIT A

BOARD RESOLUTIONS
The following is a true copy of resolutions duly adopted on March 12, 2015 by Quicksilver Resources Inc. (the “Company”):

WHEREAS, the Company currently has outstanding (i) $350 million aggregate principal amount of 71⁄8% Senior Subordinated Notes due 2016 (the “Subordinated Notes”) under an Indenture, dated as of December 22, 2005 (the “Base Indenture”; as supplemented as of the date hereof, the “Combined Notes Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (the “Existing Base Indenture Trustee”), and issued pursuant to that certain First Supplemental Indenture to the Base Indenture, dated March 16, 2006 (the “First Supplemental Indenture”), among the Company, the guarantors party thereto and the Existing Base Indenture Trustee (in such capacity, the “Existing Subordinated Notes Trustee”); (ii) $298 million aggregate principal amount of 91⁄8% Senior Notes due 2019 (the “2019 Notes”) under the Base Indenture and issued pursuant to that certain Eighth Supplemental Indenture to the Base Indenture, dated August 14, 2009 (the “Eighth Supplemental Indenture”), among the Company, the guarantors party thereto and the Existing Base Indenture Trustee (in such capacity, the “Existing 2019 Notes Trustee”); and (iii) $325 million aggregate principal amount of 11.00% Senior Notes due 2021 (the “2021 Notes”; together with the Subordinated Notes and the 2019 Notes, the “Notes”) issued under that certain Indenture, dated as of June 21, 2013 (the “2021 Notes Indenture”), among the Company, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A. (in such capacity, the “Existing 2021 Notes Trustee”; together with the Existing Base Indenture Trustee, the Existing Subordinated Notes Trustee and the Existing 2019 Notes Trustee, the “Resigning Trustees”; and each, a “Resigning Trustee”);
WHEREAS, (i) the Existing Base Indenture Trustee desires to resign as trustee under the Base Indenture, and U.S. Bank National Association desires to succeed, as trustee under the Base Indenture; (ii) the Existing Subordinated Notes Trustee desires to resign (A) as trustee under the Combined Notes Indenture (insofar as it relates to the Subordinated Notes), (B) the office or agency where the Subordinated Notes may be surrendered for registration of transfer or exchange, (C) the office or agency where the Subordinated Notes may be presented or surrendered for payment and (D) the office or agency where notices and demands to or upon the Issuer in respect of the Subordinated Notes and the Combined Notes Indenture (insofar as it relates to the Subordinated Notes) may be served, and Wilmington Trust, N.A. desires to succeed, as trustee, paying 

    
[Exhibit A—Twenty-Fifth Supplemental Indenture]

agent, registrar, and agent with respect to the Subordinated Notes and the Combined Notes Indenture (insofar as it relates to the Subordinated Notes); (iii) the Existing 2019 Notes Trustee desires to resign (A) as trustee under the Combined Notes Indenture (insofar as it relates to the Existing 2019 Notes), (B) the office or agency where the Existing 2019 Notes may be surrendered for registration of transfer or exchange, (C) the office or agency where the Existing 2019 Notes may be presented or surrendered for payment and (D) the office or agency where notices and demands to or upon the Issuer in respect of the Existing 2019 Notes and the Combined Notes Indenture (insofar as it relates to the Existing 2019 Notes) may be served, and U.S. Bank National Association desires to succeed, as trustee, paying agent, registrar, and agent with respect to the 2019 Notes and the Combined Notes Indenture (insofar as it relates to the 2019 Notes); and (iv) the Existing 2021 Notes Trustee desires to resign (A) as trustee under the 2021 Notes Indenture, (B) the office or agency where the 2021 Notes may be surrendered for registration of transfer or exchange, (C) the office or agency where the 2021 Notes may be presented or surrendered for payment, and (D) the office or agency where notices and demands to or upon the Issuer in respect of the 2021 Notes and 2021 Notes Indenture may be served, and Delaware Trust Company desires to succeed, as trustee, paying agent, registrar, and agent under the 2021 Notes Indenture and with respect to the 2021 Notes;
RESOLVED, that the Company appoint U.S. Bank National Association (the “Base Indenture Successor Trustee”) as successor trustee under the Base Indenture (the “Base Indenture Trustee”) and accept the resignation of the Existing Base Indenture Trustee as the Base Indenture Trustee, such resignation to be effective upon the execution and delivery by the Base Indenture Successor Trustee to the Company of an instrument or instruments accepting such appointment as the Base Indenture Trustee; and it is further
RESOLVED, that the Company appoint Wilmington Trust, N.A. (the “Subordinated Notes Successor Trustee”) as successor trustee with respect to the Subordinated Notes (the “Subordinated Notes Trustee”) and accept the resignation of the Existing Subordinated Notes Trustee as the Subordinated Notes Trustee, the office or agency where the Subordinated Notes may be surrendered for registration of transfer or exchange (the “Subordinated Notes Registrar”), the office or agency where the Subordinated Notes may be presented or surrendered for payment (the “Subordinated Notes Paying Agent”) and the office or agency where notices and demands to or upon the Company in respect of the Subordinated Notes and the Combined Notes Indenture (insofar as it relates to the Subordinated Notes) may be served (the “Subordinated Notes Agent”) for all the Subordinated Notes, such resignation to be effective upon the execution and delivery by the Subordinated Notes 

[Exhibit A—Twenty-Fifth Supplemental Indenture]

Successor Trustee to the Company of an instrument or instruments accepting such appointment as the Subordinated Notes Trustee, Subordinated Notes Registrar, Subordinated Notes Paying Agent and Subordinated Notes Agent (or in the case of the Subordinated Notes Registrar, Subordinated Notes Paying Agent, and Subordinated Notes Agent, as soon as permitted by applicable depository procedures) for all the Subordinated Notes under the Combined Notes Indenture (insofar as it relates to the Subordinated Notes); and it is further
RESOLVED, that the Company appoint U.S. Bank National Association (the “2019 Notes Successor Trustee”) as successor trustee with respect to the 2019 Notes (the “2019 Notes Trustee”) and accept the resignation of the Existing 2019 Notes Trustee as the 2019 Notes Trustee, the office or agency where the 2019 Notes may be surrendered for registration of transfer or exchange (the “2019 Notes Registrar”), the office or agency where the 2019 Notes may be presented or surrendered for payment (the “2019 Notes Paying Agent”) and the office or agency where notices and demands to or upon the Company in respect of the 2019 Notes and the Combined Notes Indenture (insofar as it relates to the 2019 Notes) may be served (the “2019 Notes Agent”) for all the 2019 Notes, such resignation to be effective upon the execution and delivery by the 2019 Notes Successor Trustee to the Company of an instrument or instruments accepting such appointment as the 2019 Notes Trustee, 2019 Notes Registrar, 2019 Notes Paying Agent and 2019 Notes Agent (or in the case of the 2019 Notes Registrar, 2019 Notes Paying Agent, and 2019 Notes Agent, as soon as permitted by applicable depository procedures) for all the 2019 Notes under the Combined Notes Indenture (insofar as it relates to the 2019 Notes); and it is further
RESOLVED, that the Company appoint Delaware Trust Company (the “2021 Notes Successor Trustee”; together with the Base Indenture Successor Trustee, the Subordinated Notes Successor Trustee and the 2019 Notes Successor Trustee, the “Successor Trustees” and each, a “Successor Trustee”) as successor trustee under the 2021 Notes Indenture (the “2021 Notes Trustee”; together with the Base Indenture Trustee, the Subordinated Notes Trustee and the 2019 Notes Trustee, the “Trustees” and each, a “Trustee”) and accept the resignation of the Existing 2021 Notes Trustee as the 2021 Notes Trustee, the office or agency where the 2021 Notes may be surrendered for registration of transfer or exchange (the “2021 Notes Registrar”; together with the Subordinated Notes Registrar and the 2019 Notes Registrar, the “Registrars” and each, a “Registrar”), the office or agency where the 2021 Notes may be presented or surrendered for payment (the “2021 Notes Paying Agent”; together with the Subordinated Notes Paying Agent and the 2019 Notes Paying Agent, the “Paying Agents” and each, a “Paying Agent”), and the office or agency where notices and demands to or upon the Company in respect 

[Exhibit A—Twenty-Fifth Supplemental Indenture]

of the 2021 Notes and the 2021 Notes Indenture may be served (the “2021 Notes Agent”; together with the Subordinated Notes Agent and the 2019 Notes Agent, the “Agents” and each, an “Agent”) for all the 2021 Notes under the 2021 Notes Indenture, such resignation to be effective upon the execution and delivery by the 2021 Notes Successor Trustee to the Company of an instrument or instruments accepting such appointment as the 2021 Notes Trustee, 2021 Notes Registrar, 2021 Notes Paying Agent, and 2021 Notes Agent for all the 2021 Notes under the 2021 Notes Indenture (or in the case of the 2021 Notes Registrar, 2021 Notes Paying Agent, and 2021 Notes Agent, as soon as permitted by applicable depository procedures); and it is further
RESOLVED, that the Chairman of the Board, the President, any Executive Vice President, Vice President, the Treasurer or any Assistant Treasurer of the Company (the “Indenture Authorized Officers”) be, and each of them hereby is, authorized, empowered and directed to execute and deliver in the name and on behalf of the Company an instrument or instruments appointing each Successor Trustee as the applicable successor Trustee, Registrar, Paying Agent, and Agent with respect to the applicable series of Notes and accepting the resignation of each Resigning Trustee (in all capacities, including as Registrar, Paying Agent, and Agent) with respect to the applicable series of Notes; and it is further
RESOLVED, that each of the Indenture Authorized Officers are hereby authorized, empowered and directed to do or cause to be done all such acts or things, and to execute and deliver, or cause to be executed or delivered, any and all such agreements, amendments, supplemental indentures, instruments, certificates, documents or papers (including, without limitation, any and all notices and certificates required to be given or made on behalf of the Company to any Successor Trustee or to any Resigning Trustee) under the terms of any of the executed instruments in connection with the resignation of each Resigning Trustee and the appointment of each Successor Trustee, in the name and on behalf of the Company as any such officer, in his/her discretion, may deem necessary or advisable to effectuate or carry out the purposes and intent of the foregoing resolutions and to exercise any of the Company’s obligations under the instruments and agreements executed on behalf of the Company in connection with the resignation of each Resigning Trustee and the appointment of each Successor Trustee.

[Exhibit A—Twenty-Fifth Supplemental Indenture]

EXHIBIT B

Notice to Holders of Quicksilver Resources Inc.’s (the “Issuer”) 91⁄8% Senior Notes (the “Notes”): 
We hereby notify you of the resignation of The Bank of New York Mellon Trust Company, N.A. as Trustee (the “Resigning Trustee”) under that certain Indenture, dated as of December 22, 2005 (the “Base Indenture”), between the Issuer and the Resigning Trustee as supplemented as of the date hereof (as so supplemented, the “Indenture”), including by that certain Eighth Supplemental Indenture to the Base Indenture, dated August 14, 2009 (the “Supplemental Indenture”), among the Issuer, the guarantors party thereto and the Resigning Trustee, pursuant to which your Notes were issued and are outstanding.
The Issuer has appointed U.S. Bank National Association, whose Corporate Trust Office is located at Nevada Financial Center, 2300 W. Sahara, Suite 200, Las Vegas, Nevada 89102 (fax: 702-251-1660), Attention: Sandra Spivey, as successor Trustee under the Indenture (insofar as it relates to the Notes), which appointment has been accepted and has become effective.  U.S. Bank National Association has also been appointed as the office or agency where the Notes may be surrendered for registration of transfer or exchange, where the Notes may be presented or surrendered for payment and where notices and demands to or upon the Issuer in respect of the Notes and the Indenture (insofar as it relates to the Notes) may be served.

U.S. Bank National Association, as successor Trustee

Dated:    _____________________, 2015

    
[Exhibit B—Twenty-Fifth Supplemental Indenture]

EXHIBIT C

Notice to Holders of Quicksilver Resources Inc.’s (the “Issuer”) 71⁄8% Senior Subordinated Notes due 2016 (the “Notes”): 
We hereby notify you of the resignation of The Bank of New York Mellon Trust Company, N.A. as Trustee (the “Resigning Trustee”) under that certain Indenture, dated as of December 22, 2005 (the “Base Indenture”), between the Issuer and the Resigning Trustee as supplemented as of the date hereof (as so supplemented, the “Indenture”), including by that certain First Supplemental Indenture to the Base Indenture, dated March 16, 2006 (the “Supplemental Indenture”), among the Issuer, the guarantors party thereto and the Resigning Trustee, pursuant to which your Notes were issued and are outstanding.
The Issuer has appointed Wilmington Trust, National Association, whose Corporate Trust Office is located at 50 South Sixth Street, Suite 1290, Minneapolis, Minnesota 55402 (fax: 612-217-5651), Attention: Peter Finkel, as successor Trustee under the Indenture (insofar as it relates to the Notes), which appointment has been accepted and has become effective.  Wilmington Trust, N.A. has also been appointed as the office or agency where the Notes may be surrendered for registration of transfer or exchange, where the Notes may be presented or surrendered for payment and where notices and demands to or upon the Issuer in respect of the Notes and the Indenture (insofar as it relates to the Notes) may be served.

Wilmington Trust, National Association, as successor Trustee

Dated:    _____________________, 2015

    
[Exhibit C—Twenty-Fifth Supplemental Indenture]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}]]