Document:

Form of Restricted Stock Unit Agreement for AMD's Non-US Senior VPs and Above

 Exhibit 10.4 

ADVANCED MICRO DEVICES, INC. 

2004 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT GRANT NOTICE FOR PARTICIPANTS LOCATED OUTSIDE THE U.S 

Advanced Micro Devices, a Delaware corporation (the “Company”), pursuant to its 2004 Equity Incentive Plan, as
amended and restated (the “Plan”), hereby grants to the holder listed below (“Participant”), this award of restricted stock units set forth below (the “RSUs”). This award of
RSUs is subject to all of the terms and conditions set forth herein and in the Terms and Conditions for Participants Located outside the U.S. Restricted Stock Unit Award (the “Terms and Conditions”) and the Plan, each of
which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice and the Terms and Conditions. 

 

					
	Participant:	    	  
	  	
			
	Grant Date:	    	  
	  	
			
	Total Number of Restricted Stock Units:	    	 shares
	  	

 Vesting Schedule:            [To be specified
in individual agreements] 
 By his or her signature, Participant agrees to be bound by the terms and conditions of the Plan,
the Terms and Conditions and this Grant Notice. Participant has reviewed the Terms and Conditions, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and
fully understands all provisions of this Grant Notice, the Terms and Conditions and the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under
the Plan, this Grant Notice or the Terms and Conditions. 
  

									
	ADVANCED MICRO DEVICES, INC.	 		 	PARTICIPANT
					
	By:	 	  
	 		 	By:	 	  

	Print Name:	 	  
	 		 	Print Name:	 	  

	Title:	 	  
	 		 		 	
	Address:	 	  
	 		 	Address:	 	  

		 		 		 		 	  

 TERMS AND CONDITIONS FOR PARTICIPANTS LOCATED OUTSIDE THE U.S. 

RESTRICTED STOCK UNIT AWARD 

ADVANCED MICRO DEVICES, INC. 2004 EQUITY INCENTIVE PLAN 

The following Terms and Conditions, together with the accompanying Confirmation of Grant of Restricted Stock Units (“RSUs”), the
Restricted Stock Unit Grant Notice for Participants Located Outside of the U.S.(“Grant Notice”) and any country-specific terms and conditions contained in the Appendix (as described in Section 17, below), comprise your
agreement (the “Agreement”) with Advanced Micro Devices, Inc. (the “Company”) regarding the RSUs awarded under the Advanced Micro Devices, Inc. 2004 Equity Incentive Plan (the
“Plan”). Capitalized terms not specifically defined herein shall have the same meaning assigned to them in the Plan 

1. Vesting of Restricted Stock Units. The RSUs will vest on the date(s) shown on the Grant Notice provided that you continue to be a
Service Provider through each vesting date. 
 2. Issuance of Shares. After the RSUs vest, the shares will be issued in your name
without restrictions as soon as practicable after you have satisfied Tax-Related Items obligations (see Section 5, below) and subject to any country-specific terms and conditions set forth in the Appendix. 

3. Nontransferability of Restricted Stock Units. The RSUs may not be pledged, assigned, sold, or otherwise transferred. 

4. Forfeiture of Restricted Stock Units. If your status as a Service Provider terminates for any reason before the vesting date(s) shown on
the Grant Notice, your unvested RSUs will be cancelled and you will not have any right to receive shares of AMD common stock (“Shares”) pursuant to the RSUs. 

5. Responsibility for Taxes. Regardless of any action the Company or your employer (the “Employer”) takes with
respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related items related to your participation in the Plan and legally applicable to you (“Tax-Related Items”), you acknowledge
that the ultimate liability for all Tax-Related Items is and remains your responsibility and may exceed the amount actually withheld by the Company or the Employer. You further acknowledge that the Company and/or the Employer (1) make no
representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs, including, but not limited to, the grant, vesting or settlement of the RSUs, the issuance of Shares upon settlement of the
RSUs, the subsequent sale of Shares acquired pursuant to such issuance and the receipt of any dividends and/or any dividend equivalents; and (2) do not commit to and are under no obligation to structure the terms of the Award or any aspect of
the RSUs to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result. Further, if you have become subject to tax in more than one jurisdiction between the date of grant and the date of any relevant taxable event,
you acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction. 

Prior to any relevant taxable or tax withholding event, as applicable, you will pay or make adequate arrangements satisfactory to the
Company and/or the Employer to satisfy all Tax-Related Items. In this regard, you authorize the Company and/or the Employer, or their respective agents, at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a
combination of the following: 
  

	 	(1)	withholding from your wages or other cash compensation paid to you by the Company and/or the Employer; or 

 

	 	(2)	withholding from proceeds of the sale of Shares acquired upon vesting/settlement of the RSUs either through a voluntary sale or through a mandatory sale arranged by the
Company (on your behalf pursuant to this authorization); or 

  

	 	(3)	withholding in Shares to be issued upon vesting/settlement of the RSUs. 

 To avoid negative accounting treatment, the Company may withhold or account for Tax-Related
Items by considering applicable minimum statutory withholding amounts or other applicable withholding rates. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, you are deemed to have been issued the full
number of Shares subject to the vested RSUs, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of your participation in the Plan. 

Finally, you shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to
withhold or account for as a result of your participation in the Plan that cannot be satisfied by the means previously described. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if you fail to comply with
your obligations in connection with the Tax-Related Items. 
 6. Other Terms and Conditions. 

a. The Plan. This Agreement is further subject to the terms and provisions of the Plan. Only certain provisions of the Plan are
described in these Terms and Conditions. As a condition to your receipt of the RSUs and the Shares upon vesting, you acknowledge and agree to the terms and conditions of the Agreement and the terms and provisions of the Plan. 

b. Stockholder Rights. Until the Shares are issued, you have no right to vote or receive dividends or any other rights as a
stockholder with respect to the RSUs. 
 c. Employment Relationship. Nothing in the Agreement shall confer on you any
right to continue in the employ of your Employer nor shall interfere with or restrict rights of your Employer, which are hereby expressly reserved, to discharge you at any time, with or without cause provided in compliance with applicable local
laws. 
 d. Change of Control. If your employment is terminated by your Employer for any reason other than for Misconduct
or, if applicable, by you as a result of a Constructive Termination, within one year after a Change of Control, then the Shares shall become fully vested upon the date of termination. 

e. Declination of RSUs. If you wish to decline your RSUs, you must complete and file the Declination of Grant form with Corporate
Compensation and Benefits by the deadline for such declination. Your declination is non-revocable, and you will not receive a grant of stock options or other compensation as replacement for the declined RSUs. 

f. Recovery in the Event of a Financial Restatement. In the event the Company is required to prepare an accounting restatement due
to the material noncompliance of the Company with any financial reporting requirement under the securities laws, the Administrator will review all equity-based compensation (including the RSUs) awarded to Company employees at the Senior Vice
President level and above. If the Administrator (in its sole discretion) determines that any such Company employee was directly involved with fraud, misconduct and/or gross negligence that contributed to or resulted in such accounting restatement,
the Administrator may, to the extent permitted by governing law and as appropriate under the circumstances, recover for the benefit of the Company all or a portion of the equity-based compensation awarded to you, including (without limitation) by
cancelation, forfeiture, repayment and/or disgorgement of profits realized from the sale of securities of the Company; provided, however, the Administrator will have the authority to recover any equity-based compensation awarded more than 18
months prior to the date of the first public issuance or filing with the Securities and Exchange Commission (whichever first occurs) of the financial document embodying such financial reporting requirement. In determining whether to seek recovery,
the Administrator shall take into account such considerations as it deems appropriate, including governing law and whether the assertion of a recovery claim may prejudice the interests of the Company in any related proceeding or investigation.

 7. Nature of Grant. In accepting the grant, you acknowledge that: 

(a) the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or
terminated by the Company at any time; 
 (b) the grant of the RSUs is voluntary and occasional and does not create any
contractual or other right to receive future grants of RSUs, or benefits in lieu of RSUs, even if RSUs have been granted repeatedly in the past; 

 (c) all decisions with respect to future RSU grants, if any, will be at the sole discretion
of the Company; 
 (d) your participation in the Plan shall not create a right to further employment with the Employer and shall
not interfere with the ability of the Employer to terminate your employment relationship at any time; 
 (e) you are voluntarily
participating in the Plan; 
 (f) the RSUs and the Shares subject to the RSUs are an extraordinary item that does not constitute
compensation of any kind for services of any kind rendered to the Company or the Employer, and which is outside the scope of your employment contract, if any; 

(g) the RSUs and the Shares subject to the RSUs are not intended to replace any pension rights or compensation; 

(h) the RSUs and the Shares subject to the RSUs are not part of normal or expected compensation or salary for any purposes, including,
but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered
as compensation for, or relating in any way to, past services for the Company, the Employer, its Parent, or any Subsidiary or Affiliate of the Company; 

(i) the RSU grant and your participation in the Plan will not be interpreted to form an employment contract or relationship with the
Company, its Parent or any Subsidiary or Affiliate of the Company; 
 (j) the future value of the underlying Shares is unknown
and cannot be predicted with certainty; 
 (k) in consideration of the grant of the RSUs, no claim or entitlement to
compensation or damages shall arise from forfeiture of the RSUs resulting from termination of your employment with the Company or the Employer (for any reason whatsoever and whether or not in breach of Applicable Laws) and you irrevocably release
the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, you shall be deemed irrevocably to have waived your entitlement to
pursue such claim; 
 (l) in the event of termination of your employment (whether or not in breach of local labor laws), your
right to vest in the RSUs under the Plan, if any, will terminate effective as of the date that you are no longer actively employed and will not be extended by any notice period mandated under applicable local laws (e.g., active employment
would not include a period of “garden leave” or similar period pursuant to applicable local laws); the Administrator shall have the exclusive discretion to determine when you are no longer actively employed for purposes of your RSU grant;
and 
 (m) the RSUs and the benefits under the Plan, if any, will not automatically transfer to another company in the case of a
merger, take-over or transfer of liability. 
 8. No Advice Regarding Grant. The Company is not providing any tax, legal or
financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares. You are hereby advised to consult with your own personal tax, legal and financial
advisors regarding your participation in the Plan before taking any action related to the Plan. 
 9. Data Privacy. You hereby
explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Agreement and any other RSU Award Documentation by and among, as applicable, the Employer, the Company,
its Parent or any Subsidiary or Affiliate for the exclusive purpose of implementing, administering and managing your participation in the Plan.  

You understand that the Company and the Employer may hold certain personal information about you, including, but not limited to,
your name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all RSUs or any other entitlement to
Shares awarded, canceled, exercised, vested, unvested or outstanding in your favor, for the exclusive purpose of implementing, administering and managing the Plan (“Data”). 

 You understand that Data will be transferred to a Company–designated Plan broker,
or such other stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. You understand that the recipients of the Data may be
located in the United States or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than your country. You understand that you may request a list with the names and
addresses of any potential recipients of the Data by contacting your local human resources representative. You authorize the Company, its Plan broker and any other possible recipients which may assist the Company (presently or in the future) with
implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing your participation in the Plan. You understand
that Data will be held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that you may, at any time, view Data, request additional information about the storage and processing of Data,
require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. You understand, however, that refusing or withdrawing your consent may
affect your ability to participate in the Plan. For more information on the consequences of your refusal to consent or withdrawal of consent, you understand that you may contact your local human resources representative. 

10. Compliance with Laws and Regulations. The issuance and transfer of the Shares will be subject to and conditioned upon compliance by the
Company and you with all applicable state and federal laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company’s Common Stock may be listed or quoted at the time of such
issuance or transfer. 
 11. Successors and Assigns. The Company may assign any of its rights under the Agreement. The Agreement
shall be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer contained herein, the Agreement will be binding upon you and your heirs, executors, administrators, legal
representatives, successors and assigns. 
 12. Governing Law; Severability. The Agreement shall be governed by and construed in
accordance with the internal laws of the State of California as such laws are applied to agreements between California residents entered into and to be performed entirely within California, excluding that body of laws pertaining to conflict of laws.
For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant or the Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of
California and agree that such litigation shall be conducted only in the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made
and/or to be performed. 
 If any provision of the Agreement is determined by a court of law to be illegal or unenforceable, in whole or in
part, that provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 

13. Further Instruments. The parties agree to execute further instruments and to take further actions as may be reasonably necessary to
carry out the purposes and intent of the Agreement. 
 14. Language. If you have received the Agreement or any other Award
Documentation translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

15. Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to current or future
participation in the Plan by electronic means. You hereby consent to receive such documents by electronic delivery and agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third
party designated by the Company. 

 16. Imposition of Other Requirements. The Company reserves the right to impose other
requirements on your participation in the Plan, on the RSUs and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with Applicable Laws or facilitate the administration of the
Plan, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing. 
 17.
Headings. The captions and headings of the Agreement are included for ease of reference only and will be disregarded in interpreting or construing the Agreement. All references herein to Sections will refer to Sections of the
Agreement. 
 18. Appendix. Notwithstanding any provisions in the Award Documentation, the RSU grant shall be subject to any
special terms and conditions for your country set forth in an Appendix to the Terms and Conditions. Moreover, if you relocate to one of the countries included in the Appendix, the special terms and conditions for such country will apply to you, to
the extent the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with local laws or facilitate the administration of the Plan. The Appendix constitutes part of the Agreement.

 19. Entire Agreement. The Plan, these Terms and Conditions, the Appendix, the Grant Notice and the Confirmation of Grant of
Restricted Stock Units constitute the entire agreement and understanding of the parties with respect to the subject matter of the Agreement, and supersede all prior understandings and agreements, whether oral or written, between the parties with
respect to the specific subject matter hereof. 

 APPENDIX 

Terms and Conditions for Participants Located Outside the U.S. 

Restricted Stock Unit Award 

Advanced Micro Devices, Inc. 2004 Equity Incentive Plan 

This Appendix to the Terms and Conditions for Participants Located Outside the U.S. includes additional terms and conditions that govern the grant RSUs
in your country. Capitalized terms not explicitly defined in this Appendix have the definitions ascribed to them in the Advanced Micro Devices, Inc. 2004 Equity Incentive Plan (the “Plan”) and/or the Terms and Conditions for
Participants Located Outside the U.S. (as applicable). 
 This Appendix also includes information regarding exchange controls and certain other
issues of which you should be aware with respect to your participation in the Plan. The information is based on the securities, exchange control and other laws in effect in the respective countries as of December 2008. Such laws are often complex
and change frequently. As a result, the Company strongly recommends that you not rely on the information noted herein as the only source of information relating to the consequences of your participation in the Plan because the information may be out
of date at vesting of the RSUs or the subsequent sale of the Shares or receipt of any dividends or dividend equivalents. 
 In addition, the
information is general in nature and may not apply to your particular situation, and the Company is not in a position to assure you of any particular result. Accordingly, you are advised to seek appropriate professional advice as to how the relevant
laws in your country may apply to your situation. 
 Finally, if you are a citizen or resident of a country other than the one in which you are
currently working, the information contained herein may not be applicable to you. 
 ARGENTINA 

Notifications 
 Securities Law
Information. Neither the RSUs nor the issuance of Shares are publicly offered or listed on any stock exchange in Argentina. The offer is private and not subject to the supervision of any Argentine governmental authority. 

Exchange Control Information. In the event that you transfer proceeds in excess of US$2,000,000 from the sale of Shares into Argentina in a single
month, you will be subject to certain exchange control laws. Please note that exchange control regulations in Argentina are subject to frequent change. You should consult with your personal legal advisor regarding any exchange control obligations
that you may have. 
 AUSTRALIA 

Notifications 
 Securities Law
Information. If you acquire Shares pursuant to the RSUs and you offer the Shares for sale to a person or entity resident in Australia, the offer may be subject to disclosure requirements under Australian law. You should obtain legal advice on
disclosure obligations prior to making any such offer. 
 Exchange Control Information. Exchange control reporting is required for cash
transactions exceeding A$10,000 and international fund transfers. The Australian bank assisting with the transaction will file the report. If there is no Australian bank involved in the transfer, you will be required to file the report. 

BELGIUM 
 There are no country specific
provisions. 
 BRAZIL 

Notifications 
 Exchange Control
Information. If you are a resident or domiciled in Brazil, you will be required to submit an annual declaration of assets and rights held outside of Brazil to the Central Bank of Brazil if the aggregate value of such assets and rights is equal
to or greater than US$100,000. Please note that the US$100,000 threshold may be changed annually.  

 CANADA 

Notifications 
 French Language
Provision. The following provisions will apply if you are a resident of Quebec: 
 The parties acknowledge that it is their express wish
that this Agreement, as well as all documents, notices and legal proceedings entered into, given or instituted pursuant hereto or relating directly or indirectly hereto, be drawn up in English. 

Les parties reconnaissent avoir exigé la redaction en anglais de cette convention (“Agreement”), ainsi que de tous documents
exécutés, avis donnés et procedures judiciaries intentées, directement ou indirectement, relativement à la présente convention.  

Termination of Service. The following provision replaces Section 4 of the Terms and Conditions: 

In the event of the termination of your status as Service Provider for any reason (whether or not in breach of local labor laws), all unvested RSUs shall
be immediately forfeited without consideration. For purposes of the preceding sentence, your right to vest in the RSUs will terminate effective as of the date that is the earlier of (1) the date you receive notice of termination from your
Employer, or (2) the date you are no longer actively providing service, regardless of any notice period or period of pay in lieu of such notice required under applicable laws (including, but not limited to statutory law, regulatory law and/or
common law); the Company shall have the exclusive discretion to determine when you are no longer actively providing service for purposes of the RSUs. 

Authorization to Release and Transfer Necessary Personal Information. The following provision supplements Section 9 of the Terms and
Conditions: 
 You hereby authorize the Company and the Company’s representatives to discuss with and obtain all relevant information from
all personnel, professional or not, involved in the administration and operation of the Plan. You further authorize the Company, any Parent, Subsidiary or Affiliate and the Administrator of the Plan to disclose and discuss the Plan with their
advisors. You further authorize the Company and any Parent, Subsidiary or Affiliate to record such information and to keep such information in your employee file. 

CHINA 
 Terms and Conditions

 Settlement of Restricted Stock Units and Sale of Shares. The following provision supplements Section 2 of the Terms and
Conditions: 
 You agree to maintain any Shares you obtain upon vesting in an account with the designated plan broker prior to sale. Further,
you agree to sell all shares issued upon vesting of the RSUs promptly upon notice of termination of your employment with the Company or its Parent, Subsidiary, Affiliate or the Employer. You agree that the Company is authorized to instruct its
designated broker to assist with the mandatory sale of such Shares (on your behalf pursuant to this authorization) and you expressly authorize the Company’s designated broker to complete the sale of such Shares. You agree to sign any forms
and/or consents required by the Company’s broker to effectuate the sale of Shares in case of termination of employment. You acknowledge that the Company’s designated broker is under no obligation to arrange for the sale of the Shares at
any particular price. Furthermore, you acknowledge that the sale of Shares upon termination of employment will be made as soon as administratively possible after stock plan administration is aware of your termination, but the Company is not
committing to sell the Shares at any particular time after termination of employment. However, you are always free to sell the Shares yourself at any time prior to the date the Company arranges for the sale of the Shares. Upon the sale of the
Shares, the Company agrees to pay you the cash proceeds from the sale of the Shares, less any brokerage fees or commissions and subject to any obligation to satisfy Tax-Related Items. You acknowledge that you are not aware of any material nonpublic
information with respect to the Company or any securities of the Company as of the date of this Agreement. 

 Exchange Control Requirements. You understand and agree that, pursuant to local exchange control
requirements, you will be required to repatriate the cash proceeds from the sale of the Shares issued upon the vesting of the RSUs to China. You further understand that, under Applicable Laws, such repatriation of your cash proceeds may need to be
effectuated through a special exchange control account established by the Company, its Parent, Subsidiary or Affiliate or the Employer, and you hereby consent and agree that any proceeds from the sale of any Shares you acquire may be transferred to
such special account prior to being delivered to you. You also understand that the Company will deliver the proceeds to you as soon as possible, but there may be delays in distributing the funds to you due to exchange control requirements in China.
Proceeds may be paid to you in U.S. dollars or local currency at the Company’s discretion. If the proceeds are paid to you in U.S. dollars, you will be required to set up a U.S. dollar bank account in China so that the proceeds may be deposited
into this account. If the proceeds are paid to you in local currency, the Company is under no obligation to secure any particular exchange conversion rate and the Company may face delays in converting the proceeds to local currency due to exchange
control restrictions. You further agree to comply with any other requirements that may be imposed by the Company in the future in order to facilitate compliance with exchange control requirements in China. 

FRANCE 
 Notifications 

Tax Information. The RSUs are not intended to be French tax-qualified Awards. 

Terms and Conditions 
 French Language
Provision. By signing and returning this Agreement, you confirm having read and understood the documents relating to the Plan which were provided to you in English language. You accept the terms of those documents accordingly. 

French translation: En signant et renvoyant ce Contrat vous confirmez ainsi avoir lu et compris les documents relatifs au Plan qui vous ont
été communiqués en langue anglaise. Vous en acceptez les termes en connaissance de cause.  
 FINLAND

 There are no country specific provisions. 

GERMANY 
 Notifications

 Exchange Control Information. Cross-border payments in excess of €12,500 must be reported monthly to the German Federal Bank.
If you use a German bank to transfer a cross-border payment in excess of €12,500 in connection with the sale of Shares acquired under the Plan, the bank will make the report for you. In addition, you must report any receivables, payables, or
debts in foreign currency exceeding an amount of €5,000,000 on a monthly basis. 
 HONG KONG 

Terms and Conditions 

Warning: The RSUs and Shares issued at vesting do not constitute a public offering of securities under Hong Kong law and are available
only to Service Providers of the Company, its Parent, Subsidiary or Affiliate. The Agreement, including this Appendix, the Plan and other incidental Award Documentation have not been prepared in accordance with and are not intended to constitute a
“prospectus” for a public offering of securities under the applicable securities legislation in Hong Kong, nor has the Award Documentation been reviewed by any regulatory authority in Hong Kong. The RSUs are intended only for the personal
use of each eligible Service Provider of the Employer, the Company, its Parent or any Subsidiary or Affiliate and may not be distributed to any other person. If you are in any doubt about any of the contents of the Agreement, including this
Appendix, or the Plan, you should obtain independent professional advice.  

 Settlement of Restricted Stock Units and Sale of Shares. The following provision supplements
Section 2 of the Terms and Conditions: 
 In the event your RSUs vest and Shares are issued to you within six months of the date of grant,
you agree that you will not dispose of any Shares acquired prior to the six-month anniversary of the date of grant. 
 Notifications 

 Nature of Scheme. The Company specifically intends that the Plan will not be an occupational retirement scheme for purposes of the
Occupational Retirement Schemes Ordinance. 
 INDIA 

Terms and Conditions 
 Fringe Benefit
Tax Obligation. By accepting the RSUs, you consent and agree to assume any and all liability for fringe benefit tax that may be payable by the Company and/or the Employer in connection with the RSUs at the discretion of the Company and/or the
Employer. Further, by accepting the RSUs, you agree that the Company and/or the Employer may collect the fringe benefit tax from you by any of the means set forth in Section 5 of the Terms and Conditions, or any other reasonable method
established by the Company. You also agree to execute any other consents or elections required to accomplish the foregoing, promptly upon request by the Company. 

Notifications 
 Exchange Control
Information. You understand that you must repatriate any proceeds from the sale of Shares acquired under the Plan to India and convert the proceeds into local currency within 90 days of receipt. You will receive a foreign inward remittance
certificate (“FIRC”) from the bank where you deposit the foreign currency. You should maintain the FIRC as evidence of the repatriation of fund in the event the Reserve Bank of India or the Employer requests proof of repatriation.

 IRELAND 
 Notifications

 Director Notification Obligation. If you are a director, shadow director or secretary of the Company’s Irish Parent,
Subsidiary or Affiliate, you must notify the Irish Parent, Subsidiary or Affiliate in writing within five business days of receiving or disposing of an interest in the Company (e.g., RSUs, etc.), or within five business days of becoming aware
of the event giving rise to the notification requirement or within five days of becoming a director or secretary if such an interest exists at the time. This notification requirement also applies with respect to the interests of a spouse or children
under the age of 18 (whose interests will be attributed to the director, shadow director or secretary). 
 ITALY 

Terms and Conditions 
 Authorization to
Release and Transfer Necessary Personal Information. The following provision replaces in its entirety Section 9 of the Terms and Conditions: 

You understand that the Employer and/or the Company may hold certain personal information about you, including, but not limited to, your name, home
address and telephone number, date of birth, social security number (or any other social or national identification number), salary, nationality, job title, number of Shares held and the details of all RSUs or any other entitlement to Shares
awarded, cancelled, exercised, vested, unvested or outstanding (the “Data”) for the purpose of implementing, administering and managing your participation in the Plan. You are aware that providing the Company with your Data is necessary
for the performance of the Agreement and that your refusal to provide such Data would make it impossible for the Company to perform its contractual obligations and may affect your ability to participate in the Plan. 

 The Controller of personal data processing is Advanced Micro Devices, Inc., One AMD Place, Sunnyvale,
California 94088, USA, and, pursuant to D.lgs 196/2003, its representative in Italy is Advanced Micro Devices, Spa. Via Montefeltro, 420156 Milano, Italy. You understand that the Data may be transferred to the Company or any of its Parent,
Subsidiaries or Affiliates, or to any third parties assisting in the implementation, administration and management of the Plan, including any transfer required to a broker or other third party with whom Shares acquired pursuant to the vesting of the
RSUs or cash from the sale of such Shares may be deposited. Furthermore, the recipients that may receive, possess, use, retain and transfer such Data for the above mentioned purposes may be located in Italy or elsewhere, including outside of the
European Union and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than your country. The processing activity, including the transfer of your personal data abroad, outside of the
European Union, as herein specified and pursuant to Applicable Laws and regulations, does not require your consent thereto as the processing is necessary for the performance of contractual obligations related to the implementation, administration
and management of the Plan. You understand that Data processing relating to the purposes above specified shall take place under automated or non-automated conditions, anonymously when possible, that comply with the purposes for which Data are
collected and with confidentiality and security provisions as set forth by applicable laws and regulations, with specific reference to D.lgs. 196/2003. 

You understand that Data will be held only as long as is required by law or as necessary to implement, administer and manage your participation in
the Plan. You understand that pursuant to art.7 of D.lgs 196/2003, you have the right, including but not limited to, access, delete, update, request the rectification of your Data and cease, for legitimate reasons, the Data processing. Furthermore,
you are aware that your Data will not be used for direct marketing purposes. In addition, the Data provided can be reviewed and questions or complaints can be addressed by contacting a local representative available at the following address:
Advanced Micro Devices, Spa. Via Montefeltro, 420156 Milano, Italy. 
 Plan Document Acknowledgment. In accepting the RSUs, you
acknowledge that you have received a copy of the Plan and the Agreement and have reviewed the Plan and the Agreement, including this Appendix, in their entirety and fully understand and accept all provisions of the Plan and the Agreement, including
this Appendix. You further acknowledge that you have read and specifically and expressly approve the following sections of the Terms and Conditions: Section 1: Vesting of Restricted Stock Units, Section 2: Issuance of Shares;
Section 4: Forfeiture of Restricted Stock Units; Section 5: Responsibility for Taxes; Section 7: Nature of Grant and the Authorization to Release Transfer Necessary Personal Information above. 

Notifications 
 Exchange Control
Information. You are required to report in your annual tax return: (a) any transfers of cash or Shares to or from Italy exceeding €10,000 or the equivalent amount in U.S. dollars; and (b) any foreign investments or investments
(including proceeds from the sale of RSUs acquired under the Plan) held outside of Italy exceeding €10,000 or the equivalent amount in U.S. dollars, if the investment may give rise to income in Italy. You exempt from the formalities in
(a) if the investments are made through an authorized broker resident in Italy, as the broker will comply with the reporting obligation on your behalf. 

JAPAN 
 There are no country specific
provisions. 
 KOREA 

Notifications 
 Exchange Control
Information. If you realize US$500,000 or more from the sale of Shares, Korean exchange control laws require you to repatriate the proceeds to Korea within 18 months of the sale. 

MALAYSIA 
 Notifications

 Malaysian Insider Trading Notification. You should be aware of the Malaysian insider-trading rules, which may impact your
acquisition or disposal of Shares or rights to Shares under the Plan. Under the Malaysian insider-trading rules, you are prohibited from acquiring or selling Shares or rights to Shares (e.g., an Award under the Plan) when you are in
possession of information which is not generally available and which you know or should know will have a material effect on the price of Shares once such information is generally available. 

 Director Notification Obligation. If you are a director of the Company’s Malaysian Parent,
Subsidiary or Affiliate, you are subject to certain notification requirements under the Malaysian Companies Act. Among these requirements is an obligation to notify the Malaysian Parent, Subsidiary or Affiliate in writing when you receive or dispose
of an interest (e.g., an Award under the Plan or Shares) in the Company or any related company. Such notifications must be made within 14 days of receiving or disposing of any interest in the Company or any related company. 

MEXICO 
 Terms and Conditions 

 No Entitlement or Claims for Compensation. These provisions supplement Sections 6 and 7 of the Terms and Conditions: 

Modification. By accepting the RSUs, you understand and agree that any modification of the Plan or the Agreement or its termination shall not
constitute a change or impairment of the terms and conditions of employment. 
 Policy Statement. The Award of RSUs the Company is making
under the Plan is unilateral and discretionary and, therefore, the Company reserves the absolute right to amend it and discontinue it at any time without any liability. 

The Company, with registered offices at One AMD Place, Sunnyvale, CA 94088, U.S.A., is solely responsible for the administration of the Plan and
participation in the Plan and the acquisition of Shares does not, in any way, establish an employment relationship between you and the Company since you are participating in the Plan on a wholly commercial basis and the sole employer is Advanced
Micro Devices, Blvd. Manuel Ávila Camacho No. 40, Torre Esmeralda 1, Piso 18 Col. Lomas de Chapultepec México DF, CP 11000—México., nor does it establish any rights between you and the Employer. 

Plan Document Acknowledgment. By accepting the Award of RSUs, you acknowledge that you have received copies of the Plan, have reviewed the Plan
and the Agreement in their entirety and fully understand and accept all provisions of the Plan and the Agreement. 
 In addition, by signing the
Agreement, you further acknowledge that you have read and specifically and expressly approve the terms and conditions in Section 7 of the Agreement, in which the following is clearly described and established: (i) participation in the Plan
does not constitute an acquired right; (ii) the Plan and participation in the Plan is offered by the Company on a wholly discretionary basis; (iii) participation in the Plan is voluntary; and (iv) the Company and any Parent,
Subsidiary or Affiliate are not responsible for any decrease in the value of the Shares underlying the RSUs. 
 Finally, you hereby declare that
you do not reserve any action or right to bring any claim against the Company for any compensation or damages as a result of your participation in the Plan and therefore grant a full and broad release to the Employer, the Company and any Parent,
Subsidiary or Affiliate with respect to any claim that may arise under the Plan. 
 Spanish Translation  

Reconocimiento de la Ley Laboral. Estas disposiciones complementan el apartado 14 del Acuerdo:  

Modification. Al aceptar las Unidades de Acción Restringida, usted reconoce y acuerda que cualquier modificación del Plan o su
terminación no constituye un cambio o desmejora de los términos y condiciones de empleo.  
 Declaración de
Política. El Otorgamiento de Unidades de Acción Restringida de la Compañía en virtud del Plan es unilateral y discrecional y, por lo tanto, la Compañía se reserva el derecho absoluto de modificar
y discontinuar el mismo en cualquier tiempo, sin responsabilidad alguna.  

 La Compañía, con oficinas registradas ubicadas en One AMD Place, Sunnyvale, CA 94088,
U.S.A., es la única responsable de la administración del Plan y de la participación en el mismo y la adquisición de Acciones no establece de forma alguna una relación de trabajo entre usted y la
Compañía, ya que su participación en el Plan es completamente comercial y el único empleador es Advanced Micro Devices, Blvd. Manuel Ávila Camacho No. 40, Torre Esmeralda 1, Piso 18 Col. Lomas de Chapultepec
México DF, CP 11000—México, así como tampoco establece ningún derecho entre la persona que tenga el derecho a optar y el Empleador. 

Reconocimiento del Documento del Plan. Al aceptar el Otorgamiento de las Unidades de Acción Restringida, usted reconoce que ha
recibido copias del Plan, ha revisado el mismo, al igual que la totalidad del Acuerdo y, que ha entendido y aceptado completamente todas las disposiciones contenidas en el Plan y en el Acuerdo.  

Adicionalmente, al firmar el Acuerdo, reconoce que ha leído, y que aprueba específica y expresamente los términos y condiciones
contenidos en la Renuncia de Derecho o Reclamo por Compensación, apartado 7 del Acuerdo, en el cual se encuentra claramente descrito y establecido lo siguiente: (i) la participación en el Plan no constituye un derecho
adquirido; (ii) el Plan y la participación en el mismo es ofrecida por la Compañía de forma enteramente discrecional; (iii) la participación en el Plan es voluntaria; y (iv) la Compañía,
así como su Sociedad controlante, Subsidiaria o Filiales no son responsables por cualquier disminución en el valor de las Acciones en relación a las Unidades de Acción Restringida. 

Finalmente, declara que no se reserva ninguna acción o derecho para interponer una demanda en contra de la Compañía por
compensación, daño o perjuicio alguno como resultado de su participación en el Plan y, en consecuencia, otorga el más amplio finiquito al Empleador, así como a la Compañía, a su Sociedad
controlante, Subsidiaria o Filiales con respecto a cualquier demanda que pudiera originarse en virtud del Plan. 
 NETHERLANDS

 Notifications 

Insider-Trading Notification. You should be aware of the Dutch insider-trading rules, which may impact the sale of Shares issued to you at vesting
and settlement of the RSUs. In particular, you may be prohibited from effectuating certain transactions involving Shares if you have inside information about the Company. If you are uncertain whether the insider-trading rules apply to you, you
should consult your personal legal advisor. 
 POLAND 

Notifications 

Exchange Control Information. If you hold foreign securities (including Shares) and maintain accounts abroad, you may be
required to file certain reports with the National Bank of Poland. Specifically, if the value of securities and cash held in such foreign accounts exceeds €10,000, you must file reports on the transactions and balances of the accounts on a
quarterly basis by the 20th day of the month following the
end of each quarter and an annual report by no later than January 30 of the following calendar year. Such reports are filed on special forms available on the website of the National Bank of Poland. 

SINGAPORE 
 Notifications

 Securities Law Information. The Award of RSUs is being made in reliance of section 273(1)(f) of the Securities and
Futures Act (Cap. 289) (“SFA”) for which it is exempt from the prospectus and registration requirements under the SFA. 
 Director
Notification Obligation. If you are a director, associate director or shadow director of the Company’s Singapore Parent, Subsidiary or Affiliate, you are subject to certain notification requirements under the Singapore Companies Act. Among
these requirements is an obligation to notify the Company’s Singapore Parent, Subsidiary or Affiliate in writing when you receive an interest (e.g., an Award or Shares) in the Company or any Parent, Subsidiary or Affiliate. In addition,
you must notify the Company’s Singapore Parent, Subsidiary or Affiliate when you sell Shares or shares of any Parent, Subsidiary or Affiliate (including when you sell Shares issued upon vesting and settlement of the RSUs). These notifications
must be made within two days of acquiring or disposing of any interest in the Company or any Parent, Subsidiary or Affiliate. In addition, a notification of your interests in the Company or any Parent, Subsidiary or Affiliate must be made within two
days of becoming a director. 

 SPAIN 

Terms and Conditions 
 No Entitlement
for Claims or Compensation. The following provision supplements Section 7 of the Terms and Conditions: 
 By accepting the RSUs, you
consent to participation in the Plan and acknowledge that you have received a copy of the Plan document. 
 You understand that the Company has
unilaterally, gratuitously and in its sole discretion decided to grant RSUs under the Plan to individuals who may be Consultants, Directors and Employees throughout the world. The decision is limited and entered into based upon the express
assumption and condition that any RSUs will not economically or otherwise bind the Company or any Parent, Subsidiary or Affiliate, including the Employer, on an ongoing basis, other than as expressly set forth in the Agreement. Consequently, you
understand that the RSUs are granted on the assumption and condition that the RSUs shall not become part of any employment contract (whether with the Company or any Parent, Subsidiary or Affiliate, including the Employer) and shall not be considered
a mandatory benefit, salary for any purpose (including severance compensation) or any other right whatsoever. Furthermore, you understand and freely accept that there is no guarantee that any benefit whatsoever shall arise from the grant of RSUs,
which is gratuitous and discretionary, since the future value of the RSUs and the underlying Shares is unknown and unpredictable. You also understand that this grant of RSUs would not be made but for the assumptions and conditions set forth
hereinabove; thus, you understand, acknowledge and freely accept that, should any or all of the assumptions be mistaken or any of the conditions not be met for any reason, the RSUs and any right to the underlying Shares shall be null and void.

 Notifications 
 Exchange
Control Information. You must declare the acquisition of Shares to the Dirección General de Política Comercial e Inversiones Exteriores (“DGPCIE”) of the Ministerio de Economia for statistical purposes. You
must also declare the ownership of any Shares with the Directorate of Foreign Transactions each January while the Shares are owned. In addition, you wish to import the share certificates into Spain, you must declare the importation of such
securities to the DGPCIE. 
 When receiving foreign currency payments derived from the ownership of Shares (i.e., dividends or sale
proceeds), you must inform the financial institution receiving the payment of the basis upon which such payment is made. You will need to provide the following information: (i) your name, address, and fiscal identification number; (ii) the
name and corporate domicile of the Company; (iii) the amount of the payment and the currency used; (iv) the country of origin; (v) the reasons for the payment; and (vi) further information that may be required. 

SWEDEN 
 There are no country specific
provisions. 
 TAIWAN 

Notifications 
 Exchange Control
Information. You may acquire and remit foreign currency (including proceeds from the sale of Shares) into and out of Taiwan up to US$5,000,000 per year. If the transaction amount is TWD$500,000 or more in a single transaction, you must submit a
foreign exchange transaction form and also provide supporting documentation to the satisfaction of the remitting bank. 
 If the transaction
amount is US$500,000 or more, you may be required to provide additional supporting documentation to the satisfaction of the remitting bank. Please consult your personal advisor to ensure compliance with applicable exchange control laws in Taiwan.

 THAILAND 

Notifications 
 Exchange Control
Information. When you sell Shares issued to you at vesting and settlement of the RSUs, you must repatriate all cash proceeds to Thailand and then convert such proceeds to Thai Baht within 360 days of repatriation. If the amount of your proceeds
is US$20,000 or more, you must specifically report the inward remittance to the Bank of Thailand on a foreign exchange transaction form. If you fail to comply with these obligations, you may be subject to penalties assessed by the Bank of Thailand.
You should consult your personal advisor before taking action with respect to remittance of proceeds from the sale of Shares into Thailand. You are responsible for ensuring compliance with all exchange control laws in Thailand. 

TURKEY 
 There are no country specific
provisions. 
 UNITED ARAB EMIRATES 

There are no country specific provisions. 

UNITED KINGDOM 
 Terms &
Conditions 
 Tax Acknowledgment. The following provisions supplement Section 5: Responsibility for Taxes in the Terms and
Conditions: 
 You shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to
account to HMRC with respect to the event giving rise to the Tax-Related Items (the “Taxable Event”) that cannot be satisfied by the means described in Section 5 of the Terms and Conditions. If payment or withholding is
not made within ninety (90) days of the Taxable Event or such other period as required under U.K. law (the “Due Date”), you agree that the amount of any uncollected Tax-Related Items shall (assuming you are not a
director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities and Exchange Act of 1934, as amended)) constitute a loan owed by you to the Employer, effective on the Due Date. You agree that the loan
will bear interest at the then-current HMRC Official Rate and it will be immediately due and repayable, and the Company and/or the Employer may recover it at any time thereafter by any of the means referred to in Section 5 of the Terms and
Conditions. If you fail to comply with your obligations in connection with the Tax-Related Items as described in this section, the Company may refuse to deliver the Shares acquired under the Plan. 

Notwithstanding the foregoing, if you are a director or executive officer of the Company (within the meaning of Section 13(k) of the U.S. Securities
and Exchange Act of 1934, as amended), you will not be eligible for such a loan to cover the Tax-Related Items. In the event that you are a director or executive officer and the Tax-Related Items are not collected from or paid by you by the Due
Date, the amount of any uncollected Tax-Related Items will constitute a benefit to you on which additional income tax and National Insurance contributions will be payable. You will be responsible for reporting and paying any income tax and National
Insurance contributions due on this additional benefit directly to HMRC under the self-assessment regime.Form of Second Supplemental Indenture, dated May 20, 2010

 Exhibit 4.1 

SECOND SUPPLEMENTAL INDENTURE 

THIS SECOND SUPPLEMENTAL INDENTURE, dated as of May 20, 2010 (the “Second Supplemental Indenture”), by and between
FRANKLIN RESOURCES, INC., a Delaware corporation having its principal executive offices located at One Franklin Parkway, San Mateo, California 94403 (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national
banking association having its main office located at 700 South Flower Street, Suite 500, Los Angeles, California 90014, as successor trustee (the “Trustee”), is to that certain Indenture, dated as of May 19, 1994, between the
Company and the Trustee as amended and supplemented by a First Supplemental Indenture, dated as of October 9, 1996 (collectively, and as further supplemented hereby, the “Indenture”). Capitalized terms used and not otherwise
defined in this Second Supplemental Indenture shall have the meanings ascribed thereto in the Indenture. 
 RECITALS 

WHEREAS, Sections 201, 301 and 901 of the Indenture provide, among other things, that the Company and the Trustee may enter into
indentures supplemental to the Indenture, without notice to or consent of any Holders of Securities, to establish the form or specific terms applicable to any series of Securities; 

WHEREAS, the Company desires and has requested the Trustee to join with it in the execution and delivery of this Second Supplemental
Indenture providing for the creation and issuance of three series of Securities under the Indenture, the titles of which shall be the “2.000% Notes due 2013” (the “2013 Notes”), the “3.125% Notes due 2015” (the
“2015 Notes”) and the “4.625% Notes due 2020” (the “2020 Notes” and, together with the 2013 Notes and the 2015 Notes, the “Notes”); 

WHEREAS, this Second Supplemental Indenture has been duly authorized by all necessary corporate action on the part of the Company; and

 WHEREAS, pursuant to this Second Supplemental Indenture, the Company shall issue and deliver, and the Trustee shall
authenticate, the 2013 Notes, the 2015 Notes and the 2020 Notes pursuant to the terms of this Second Supplemental Indenture and substantially in the Form of Global Note for the 2013 Notes as set forth as Annex A-1 hereto (the “2013 Global
Note”), for the 2015 Notes as set forth as Annex A-2 hereto (the “2015 Global Note”) and for the 2020 Notes as set forth in Annex A-3 hereto (the “2020 Global Note” and, together with the 2013 Global Note
and the 2015 Global Note, the “Global Note”); 
 NOW, THEREFORE, in consideration of the foregoing and for
other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

ARTICLE I 

Terms of the Notes 

Section 1.1 Amount and Denominations. There is hereby established pursuant to and under the Indenture (i) a series of
Securities titled the “2.000% Notes due 2013,” (ii) a series of Securities titled the “3.125% Notes due 2015” and (iii) a series of Securities titled the “4.625% Notes due 2020.” The aggregate principal amount
in which the Notes may be initially authenticated and delivered under this 

 Second Supplemental Indenture is limited to: (i) $300,000,000 aggregate principal amount of 2013 Notes,
(ii) $250,000,000 aggregate principal amount of 2015 Notes and (iii) $350,000,000 aggregate principal amount of 2020 Notes; provided, however, that the Company and the Trustee may authenticate and deliver, and the Company may
issue, additional Notes from time to time in an unlimited amount, subject to compliance with the terms and conditions of the Indenture. The Notes shall be denominated in United States dollars in denominations of $2,000 and integral multiples of
$1,000 in excess thereof. The Notes will be issued in global form. 
 Section 1.2 Maturity. The 2013 Notes shall
mature on May 20, 2013; the 2015 Notes shall mature on May 20, 2015; and the 2020 Notes shall mature on May 20, 2020 (each, a “Stated Maturity”). 

Section 1.3 Interest and Interest Rate. Each 2013 Note shall bear interest from May 20, 2010, at the annual rate of
2.000%. Each 2015 Note shall bear interest from May 20, 2010, at the annual rate of 3.125%. Each 2020 Note shall bear interest from May 20, 2010, at the annual rate of 4.625%. Interest on the Notes shall be payable semi-annually in arrears
on May 20 and November 20 of each year (each, an “Interest Payment Date”), commencing November 20, 2010, to the Persons in whose names the Notes are registered at the close of business on the immediately preceding
May 1 and November 1, respectively, subject to certain exceptions set forth in the 2013 Global Note, 2015 Global Note and 2020 Global Note, attached hereto as Annex A-1, A-2 and A-3, respectively. The amount of interest payable on the
Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months. If any Interest Payment Date or the Maturity Date of the Notes is not a Business Day, then the related payment of interest and/or principal on such date will
be paid on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date or Maturity Date and no further interest will accrue in respect of the delay. 

Section 1.4 Ranking. The Notes will be unsecured and unsubordinated obligations of the Company and will rank equal in right
of payment with respect to each other and to all the other existing and future unsubordinated Indebtedness of the Company. 

Section 1.5 Optional Redemption. The Notes of each series shall be redeemable as a whole or in part, at the Company’s
option, at any time at a redemption price (as calculated by the Company) equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus (A) 15 basis
points, in the case of the 2013 Notes, (B) 20 basis points, in the case of the 2015 Notes, and (C) 25 basis points, in the case of the 2020 Notes, plus accrued interest thereon to the date of redemption. 

For purposes of this Section 1.5: 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated yield to maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date. 
 “Comparable Treasury Issue” means the United States Treasury security or securities selected
by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 
  

 2 

 “Independent Investment Banker” means one of the Reference Treasury Dealers
appointed by the Company. 
 “Comparable Treasury Price” means, with respect to any redemption date, (A) the
average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Trustee obtains fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations. 
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Trustee by such Reference Treasury Dealer at 3:30 p.m. New York time on the third Business Day preceding such redemption date. 

“Reference Treasury Dealer” means each of Banc of America Securities LLC and Morgan Stanley & Co. Incorporated, or
their affiliates which are primary U.S. government securities dealers, and their respective successors; provided, however, that if any of the foregoing or their affiliates shall cease to be a primary U.S. government securities dealer
in The City of New York (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 

Notice of any redemption shall be given by the Company or by the Trustee, at the written request and expense of the Company, at least 30
days but not more than 60 days before the redemption date to each Holder of the Notes. In connection with any redemption, the Company shall deliver to the Trustee an Officers’ Certificate setting forth the calculation of the redemption price no
later than two (2) Business Days prior to the redemption date. 
 Unless there occurs a default in payment of the
redemption price, on and after the redemption date interest shall cease to accrue on the Notes or portions thereof called for redemption. 

Section 1.6 Sinking Fund. The Notes shall not be subject to the operation of any sinking fund or an analogous provision.

 Section 1.7 Covenants. In addition to the covenants set forth in Article Ten of the Indenture, the following
covenant shall apply to the Notes: 
 Limitation on Liens. The Company shall not, and shall not cause or permit any
Included Subsidiary to, create, assume, incur or guarantee any Indebtedness for money borrowed that is secured by a pledge, mortgage or other lien on any Voting Stock or profit participating equity interests of the Included Subsidiaries or any
entity that succeeds (whether by merger, consolidation, sale of assets or otherwise) to all or any substantial part of the business of the Included Subsidiaries, without providing that the Notes (together with, if the Company shall so determine, any
other Indebtedness of, or guarantee by, the Company ranking equally with the Notes and existing as of the date hereof or thereafter created) shall be secured equally and ratably with or prior to all other Indebtedness secured by such pledge,
mortgage or other lien on the Voting Stock or profit participating equity interests of the Included Subsidiaries. This covenant shall not limit the ability of the Company or the ability of its subsidiaries to incur Indebtedness or other obligations
secured by liens on assets other than the Voting Stock or profit participating equity interests of the Included Subsidiaries, nor shall this covenant apply to Permitted Liens. 

 

 3 

 For purposes of this Section 1.7: 

“Consolidated Net Worth” means, at a particular date, all amounts which would be included, under stockholders’ equity, on
a consolidated balance sheet of the Company and its Included Subsidiaries determined on a consolidated basis in accordance with GAAP as at such date. 

“Included Subsidiary” means any Subsidiary of the Company other than any Banking Subsidiary, Finance Subsidiary, Insurance
Subsidiary or Real Estate Subsidiary. 
 “Banking Subsidiary” means, at any time, Fiduciary Trust Company
International, Franklin Templeton Bank and Trust Company, F.S.B. or any other Subsidiary of the Company licensed to engage, and principally engaged, at such time in the banking or trust business or any Subsidiary of any such Subsidiary. 

“Finance Subsidiary” means Franklin Capital Corporation or any other Subsidiary of the Company created for the sole purpose of
acting as a finance or securitization subsidiary. 
 “GAAP” means generally accepted accounting principles in the
United States of America in effect from time to time. 
 “Insurance Subsidiary” means, at any time, any Subsidiary of
the Company licensed to engage, and principally engaged, at such time in the insurance business or any Subsidiary of such Subsidiary. 

“Permitted Liens” means 

(i) liens existing at the time an entity becomes a Subsidiary of the Company or is merged into the Company or a Subsidiary of the
Company, 
 (ii) statutory liens, liens granted to comply with regulatory requirements, liens for taxes or assessments or
governmental charges or levies not yet due or delinquent or which can be paid without penalty or are being contested in good faith, 

(iii) liens on any Voting Stock or profit participating equity interests of any Subsidiary of the Company that is acquired after the date
hereof to secure or provide for the payment of the purchase price or acquisition cost thereof, 
 (iv) liens in favor of the
Company or any Subsidiary, 
 (v) liens in existence on the date hereof, 

(vi) liens (not otherwise permitted under this Section 1.7) which secure obligations in an aggregate amount at any one time
outstanding not exceeding 7% of the Consolidated Net Worth, measured at the time of the creation, incurrence or assumption of any such lien and based upon the Consolidated Net Worth as at the end of the most recently completed fiscal quarter of the
Company for which financial statements are publicly available, and 
 (vii) any extension, renewal, substitution, refinancing or
replacement (or successive extensions, renewals, substitutions or replacements), in whole or in part, of any lien referred to in the foregoing clauses (i), (iii) and (v) that is secured by the same collateral that originally secured the
lien. 
  

 4 

 “Real Estate Subsidiary” means, at any time, any Subsidiary of the Company
principally engaged at such time in the real estate investment and property management business or any Subsidiary of any such Subsidiary. 

“Subsidiary” means, as to any Person at any time of determination, a corporation, partnership or other entity (other than any
Fund or any other investment company or similar investment entity existing under foreign law substantially equivalent to an investment company) of which shares of stock or other ownership interests having ordinary voting power (other than stock or
such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the
management of which is otherwise controlled, directly or indirectly through one or more intermediaries or Subsidiaries, or both, by such person. “Funds” means the collective reference to all investment companies advised by the Company or
any of its Subsidiaries. 
 “Voting Stock” means, with respect to any specified “person” (as that term is
used in Section 13(d)(3) of the Exchange Act) as of any date, the capital stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person.” 

Section 1.8 Events of Default. Clauses (1), (2), (3) and (4) of Section 501 of the Indenture shall apply to
the Notes. Clauses (5), (6) and (7) of Section 501 of the Indenture shall not apply to the Notes, but shall instead be replaced by the following: 

(5) If any event of default as defined in any mortgage, indenture or instrument under which there may be issued, or by which there may be
secured or evidenced, any Indebtedness of the Company or any Significant Subsidiary, whether such Indebtedness now exists or shall hereafter be created, shall happen and shall result in such Indebtedness in principal amount in excess of $75,000,000
becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and such acceleration shall not be rescinded or annulled, or such Indebtedness shall not have been discharged, within a period of 30
days after there shall have been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Notes, a written notice specifying such
event of default and requiring the Company to cause such acceleration to be rescinded or annulled or to cause such Indebtedness to be discharged and stating that such notice is a “Notice of Default” hereunder; or 

(6) The entry by a court having competent jurisdiction of: 

(a) a decree or order for relief in respect of the Company or any Significant Subsidiary in an involuntary proceeding
under any applicable bankruptcy, insolvency, reorganization or other similar law and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 

(b) a decree or order adjudging the Company or any Significant Subsidiary to be insolvent, or approving a petition seeking
reorganization, arrangement, adjustment or composition of the Company or any Significant Subsidiary and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 

(c) a final and non-appealable order appointing a custodian, receiver, liquidator, assignee, trustee or other similar
official of the Company or any Significant Subsidiary or of any substantial part of the property of the Company or any Significant Subsidiary, as the case may be, or ordering the winding up or liquidation of the affairs of the Company or any
Significant Subsidiary; or 
  

 5 

 (7) The commencement by the Company or any Significant Subsidiary of a voluntary proceeding
under any applicable bankruptcy, insolvency, reorganization or other similar law or of a voluntary proceeding seeking to be adjudicated insolvent or the consent by the Company or any Significant Subsidiary to the entry of a decree or order for
relief in an involuntary proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or to the commencement of any insolvency proceedings against it, or the filing by the Company or any Significant Subsidiary of a
petition or answer or consent seeking reorganization or relief under any applicable law, or the consent by the Company or any Significant Subsidiary to the filing of such petition or to the appointment of or taking possession by a custodian,
receiver, liquidator, assignee, trustee or similar official of the Company or any Significant Subsidiary or any substantial part of the property of the Company or any Significant Subsidiary or the making by the Company or any Significant Subsidiary
of an assignment for the benefit of creditors, or the taking of corporate action by the Company or any Significant Subsidiary in furtherance of any such action. 

For purposes of this Section 1.8: 

“Significant Subsidiary” means any subsidiary that would be a “significant subsidiary” of the Company within the
meaning of Rule 1-02 under Regulation S-X under the Securities Act of 1933, as amended, promulgated by the Commission. 

Section 1.9 Legal Defeasance and Covenant Defeasance. Section 402 of Article Four of the Indenture shall not apply to
the Notes. Instead, the following provisions shall apply to the Notes: 
 (a) Company’s Option to Effect Defeasance or
Covenant Defeasance. The Company may, at its option, effect defeasance of any series of Notes under Section 1.9(b), or covenant defeasance of any series of Notes under Section 1.9(c), in accordance with this section. 

(b) Defeasance and Discharge. Upon the Company’s exercise of the above option applicable to this Section 1.9(b) with
respect to any Notes of such series, the Company shall be deemed to have been discharged from its obligations with respect to all Outstanding Notes (excluding those obligations which survive payment) of such series on the date the conditions set
forth in Section 1.9(d) are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by such Outstanding Notes of
such series, which shall thereafter be deemed to be “Outstanding” only for the purposes of the other Sections of the Indenture referred to in (A) and (B) below, and to have satisfied all its other obligations under such Notes of
such series and this Indenture insofar as such Notes of such series are concerned (and the Trustee, at the written request and expense of the Company, shall execute proper instruments, prepared by the Company, acknowledging the same in accordance
with the Indenture), except for the following which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of such Outstanding Notes of such series to receive, solely from the trust fund described in
Section 1.9(d) and as more fully set forth in such section, payments in respect of the principal, premium, if any, and interest, if any, on such Notes of such series when such payments are due, (B) the Company’s obligations with
respect to such Notes of such series under Sections 304, 305, 306, 1002 and 1103 of the Indenture, (C) the rights, powers, trusts, duties, indemnity and immunities of the Trustee under the Indenture and hereunder, (D) Article Four of the
Indenture, and (E) this Section 1.9. Subject to compliance with this Section 1.9, the Company may exercise its option under this section notwithstanding the prior exercise of its option under Section 1.9(c) with respect to such
Notes of such series. 
 (c) Covenant Defeasance. Upon the Company’s exercise of the above option applicable to this
section with respect to any Notes of such series, the Company shall be released from its obligations 
  

 6 

 under Sections 1007 and 1008 of the Indenture, its obligations under each and every covenant (other than
Section 1001 of the Indenture but including Section 1.7 hereof) and the provisions of Section 1.8 applicable to Significant Subsidiaries, with respect to such Outstanding Notes of such series on and after the date the conditions set
forth in Section 1.9(d) are satisfied (hereinafter, “covenant defeasance”), and such Notes of such series shall thereafter be deemed not to be “Outstanding” for the purposes of any direction, waiver, consent or declaration
or Act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “Outstanding” for all other purposes hereunder. For this purpose, such covenant defeasance means that, with respect
to such Outstanding Notes of such series, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant or provision, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or provision or by reason of reference in any such covenant or provision to any other provision herein or in any other document and such omission to comply shall not constitute a default or an Event of
Default under Section 501(4) of the Indenture or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Notes of such series shall be unaffected thereby. 

(d) Conditions to Defeasance or Covenant Defeasance. The following shall be the conditions to application of either
Section 1.9(b) or Section 1.9(c) to any Outstanding Notes of such series: 
 (1) The Company shall
irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 606 of the Indenture who shall agree to comply with the provisions of this Section 1.9 applicable to it) in
trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Notes of such series, (A) money in an amount (in such Currency in which such Notes of such
series are then specified as payable at Stated Maturity), or (B) U.S. Government Obligations applicable to such Notes of such series (determined on the basis of the Currency in which such Notes of such series are then specified as payable at
Stated Maturity) which through the scheduled payment of principal and interest, if any, in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment of principal, premium, if any, and
interest, if any, under such Notes of such series, money in an amount, or (C) a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay and discharge, and which shall be applied
by the Trustee (or other qualifying trustee) to pay and discharge, the principal, premium, if any, and interest, if any, on such Outstanding Notes of such series on the Stated Maturity (or Redemption Date, if applicable) of such principal, premium,
if any, or installment or interest, if any, on the day on which such payments are due and payable in accordance with the terms hereof; provided, however, that the Trustee shall have been irrevocably instructed by the Company, in writing, to apply
such money or the proceeds of such U.S. Government Obligations to said payments with respect to such Notes. Before such a deposit, the Company shall give to the Trustee, in accordance with Section 1102 of the Indenture, a written notice of its
election to redeem all or any portion of such Outstanding Notes of such series at a future date in accordance with the terms of the Notes of such series and Article Eleven of the Indenture, which notice shall be irrevocable. Such irrevocable
redemption notice, if given, shall be given effect in applying the foregoing. 
 (2) Such defeasance or covenant
defeasance shall not result in a breach or violation of, or constitute a default under, the Indenture. 
 (3) In
the case of covenant defeasance, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Notes of such series will 

 

 7 

 not recognize income, gain or loss for U.S. federal income tax purposes as a result of such
covenant defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred. 

(4) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent provided for relating to either the defeasance under Section 1.9(b) or the covenant defeasance under Section 1.9(c) (as the case may be) have been satisfied. 

For purposes of this Section 1.9, “U.S. Government Obligations” means direct obligations (or certificates representing an
ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and which are not callable or
redeemable at the option of the issuer or issuers thereof. 
 Section 1.10 Amendment.
Section 902 of the Indenture shall apply to the Notes, except that the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes shall be required to effect the amendments contemplated thereby
that otherwise would require the consent of Holders of not less than
66 2/3% in principal amount of the Outstanding
Notes. 
 ARTICLE II 

Miscellaneous 

Section 2.1 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all provisions in the Indenture shall
remain in full force and effect. 
 Section 2.2 Indenture and Second Supplemental Indenture Construed Together. This
Second Supplemental Indenture is an indenture supplemental to the Indenture, and the Indenture and this Second Supplemental Indenture shall be read and construed together for the purpose of the issuance of the Securities hereby. 

Section 2.3 Confirmation and Preservation of Indenture. The Indenture as supplemented by this Second Supplemental Indenture
is in all respects confirmed and preserved. 
 Section 2.4 Conflict with Trust Indenture Act. If any provision of
this Second Supplemental Indenture limits, qualifies or conflicts with any provision of the TIA that is required under the TIA to be part of and govern any provision of this Second Supplemental Indenture, the provision of the TIA shall control. If
any provision of this Second Supplemental Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the provision of the TIA shall be deemed to apply to the Indenture as so modified or to be excluded by this Second
Supplemental Indenture, as the case may be. 
 Section 2.5 Severability. In case any provision in this Second
Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of the Indenture shall not in any way be affected or impaired thereby. 

Section 2.6 Benefits of Second Supplemental Indenture. Nothing in this Second Supplemental Indenture or the Notes, express or
implied, shall give to any Person, other than the parties hereto and thereto and their successors hereunder and thereunder and the Holders of the Notes, any benefit of any legal or equitable right, remedy or claim under the Indenture, this Second
Supplemental Indenture or the Notes. 
  

 8 

 Section 2.7 Successors. All agreements of the Company in this Second
Supplemental Indenture with respect to the issuance of the Notes hereby shall bind its successors except as provided in the Indenture. All agreements of the Trustee in this Second Supplemental Indenture shall bind its successors. 

Section 2.8 Appointment of Trustee as Paying Agent and Security Registrar. The Company hereby initially appoints the Trustee
to act as, and the Trustee hereby accepts and agrees to perform the duties and responsibilities of, the Paying Agent and Security Registrar for the Notes. 

Section 2.9 Certain Duties and Responsibilities of the Trustee. In entering into this Second Supplemental Indenture, the
Trustee shall be entitled to the benefit of every provision of the Indenture and the Notes relating to the conduct or affecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided. The recitals contained
herein are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Second Supplemental Indenture. All rights,
protections, privileges, indemnities and benefits granted or afforded to the Trustee under the Indenture shall be deemed incorporated herein by this reference and shall be deemed applicable to all actions taken, suffered or omitted by the Trustee
and in its role as Paying Agent and Security Registrar under this Second Supplemental Indenture. 
 Section 2.10. The
Trustee. For purposes of the Notes, the following sections shall be added to Article Six of the Indenture: 

Section 611. Duties of Trustee. 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. 

Section 612. Incumbency Certificate. The Trustee may request that the Company deliver a certificate setting forth the names
of individuals and/or titles of officers authorized at such time to take specific actions pursuant to the Indenture. 

Section 613. Force Majeure. 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; 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. 

Section 614. Notices to Trustee. The Trustee agrees to accept and act upon facsimile transmission of written instructions and
directions pursuant to the Indenture given by the Company; provided, however, that: (i) the Company, subsequent to such facsimile transmission of written instructions and/or directors, shall provide the originally executed
instructions and/or directions to the Trustee in a timely manner and (ii) such originally executed instructions and/or directions shall be signed by an Authorized “Officer” of the Company. 

 

 9 

 Section 615. Address for Notices to Trustee. 

The Bank of New York Mellon Trust Company, N.A 

700 South Flower Street, Suite 500 

Los Angeles, CA 90017 

Fax: (213) 630-6298 

Section 2.11 Governing Law. This Second Supplemental Indenture shall be governed by, and construed in accordance with, the
laws of the State of New York applicable to agreements made or instruments entered into and, in each case, performed in said state. 

Section 2.12 Multiple Originals. The parties may sign any number of copies of this Second Supplemental Indenture. Each signed
copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Second Supplemental Indenture. 

Section 2.13 Headings. The Article and Section headings herein have been inserted for convenience of reference only, are not
intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 
  

 10 

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

			
	Company
	
	FRANKLIN RESOURCES, INC.
		
	By:	 	 /s/ Kenneth A. Lewis

	Name:	 	Kenneth A. Lewis
	Title:	 	Executive Vice President and Chief Financial Officer

  

			
	Trustee
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
		
	By:	 	 /s/ Teresa Petta

	Name:	 	Teresa Petta
	Title:	 	Vice President

 ANNEX A-1 

 THIS NOTE IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN
THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND
NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
  

			
	 REGISTERED
	  	$[                    ]
		
	 No. [                ]
	  	CUSIP No. 354613 AE1

FRANKLIN RESOURCES, INC. 

2.000% NOTES DUE 2013 

Franklin Resources, Inc., a Delaware corporation (the “Company”), for value received, hereby promises to pay to CEDE &
CO., or registered assigns, the principal amount stated above on May 20, 2013 (the “Maturity Date”) and to pay interest thereon at the rate per annum equal to 2.000% (the “Interest Rate”) until the principal hereof is fully
paid or duly made available for payment. The Company will pay interest at the Interest Rate per annum specified above (computed on the basis of a 360-day year consisting of twelve 30-day months) semi-annually in arrears on May 20 and
November 20 of each year (each an “Interest Payment Date”) commencing November 20, 2010 and on the Maturity Date on said principal amount. Interest on this Note will accrue from the most recent Interest Payment Date to which
interest has been paid or duly provided for or, if no interest has been paid, from May 20, 2010 until the principal hereof has been paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on the
Interest Payment Dates, will, as provided in the Indenture referred to below, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest,
which shall be May 1 or November 1, whether or not a Business Day, as the case may be, immediately preceding such Interest Payment Date; provided, however, that interest payable on the Maturity Date will be payable to the
Person to whom the principal hereof shall be payable; and provided, further, however, that if such Interest Payment Date or the Maturity Date would fall on a day that is not a Business Day, such Interest Payment Date or the
Maturity Date shall be the next succeeding Business Day. Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder on such Regular Record Date,
and may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall
be given to the Holder of this Note not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed
and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

 Payment of the principal of and interest on this Note shall be made at the office or agency
of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debt;
provided, however, that payment of interest on any Interest Payment Date (other than the Maturity Date) may be made at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall appear
in the Security Register, or by wire transfer of immediately available funds, if the registered Holder has so requested by a notice in writing delivered to the Trustee not less than 16 days prior to the Interest Payment Date on which such payment is
due, which notice shall provide appropriate instructions for such transfer. 
 The principal hereof and interest due at maturity
will be paid upon maturity in immediately available funds against presentation of this Note at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH ON THE FACE HEREOF. 
 This Note shall be governed by and construed in accordance
with the laws of the State of New York applicable to agreements made or instruments entered into and performed in said state. 

Unless the certificate of authentication hereon has been executed by The Bank of New York Mellon Trust Company, N.A. as the Trustee under
the Indenture, or its successor thereunder by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

Dated: May 20, 2010 
  

			
	FRANKLIN RESOURCES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 Attested: 

	
	
	
	  
	      

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

 

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

		 	 Authorized Signatory

 [Reverse of Note] 

FRANKLIN RESOURCES INC. 

2.000% NOTES DUE 2013 

This Note is one of a duly authorized issue of debentures, notes or other evidences of Indebtedness (hereinafter called the
“Securities”) of the Company of the series hereinafter specified, all such Securities issued and to be issued under the Indenture, dated as of May 19, 1994, as amended by a First Supplemental Indenture, dated as of October 9,
1996 and as further amended and supplemented by the Second Supplemental Indenture, dated as of May 20, 2010 (as so amended and supplemented, the “Indenture”) between the Company and The Bank of New York Mellon Trust Company,
N.A., as successor in interest to Chemical Bank, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures or officers’ certificates, as applicable,
supplemental thereto, reference is hereby made for a statement of the respective rights and limitations of rights thereunder of the Company, the Trustee and the Holders of the Securities, and the terms upon which the Securities are, and are to be,
authenticated and delivered. As provided in the Indenture, Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at
different rates, may be subject to different redemption provisions, if any, may be subject to different repayment provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and
Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated as 2.000% Notes due 2013 (the “Notes”). The Notes are unsecured and unsubordinated obligations of
the Company and rank equal in right of payment to all other unsubordinated Indebtedness of the Company. The Notes are not subject to the operation of any sinking fund or an analogous provision. 

The Notes are redeemable, as a whole or in part, at the Company’s option at any time at a redemption price (as calculated by the
Company) equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum as determined by the Company of the present values of the remaining scheduled payments of principal and interest thereon
(exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, plus accrued interest thereon
to the date of redemption. Notice of any redemption will be given by the Company or the Trustee at the written request and expense of the Company at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes. In
connection with any redemption, the Company shall deliver the Trustee an Officers’ Certificate setting forth the calculation of the redemption price no later than two (2) Business Days prior to the redemption date. Unless there occurs a
default in payment of the redemption price, on and after the redemption date interest shall cease to accrue on the Notes or portions thereof called for redemption. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated yield to maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date. 

 “Comparable Treasury Issue” means the United States Treasury security or
securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Comparable Treasury Price” means, with respect to any redemption date, (A) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption
date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at
3:30 p.m. New York time on the third business day preceding such redemption date. 
 “Reference Treasury Dealer” means
each of Banc of America Securities LLC and Morgan Stanley & Co. Incorporated, or their affiliates which are primary U.S. government securities dealers, and their respective successors; provided, however, that if any of the foregoing or
their affiliates shall cease to be a primary U.S. government securities dealer in The City of New York (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 

If any Event of Default (as defined in the Indenture) with respect to the Notes shall occur and be continuing, the Trustee or the Holders
of not less than 25% in principal amount of the Outstanding Notes may declare the principal of all the Notes due and payable in the manner and with the effect provided in the Indenture. 

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

Holders of Notes may not enforce their rights pursuant to the Indenture or the Notes except as provided in the Indenture. No reference
herein to the Indenture and no provision of this Note or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, 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 Note may be registered on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company, and this Note duly executed by, the Holder hereof or by his attorney duly authorized in writing and thereupon one or more new Notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like
aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the same. 

No service charge will 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 the due presentment of this Note for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice of the contrary. 
 All capitalized terms used in this Note
and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 
  

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned 

hereby sell(s), assign(s) and transfer(s) unto 
  

 
  

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  

 
  

 
  

 
  

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

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

 
  

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

 

					
	Dated:	 		 	  

			
	  	 		 	 
	(Signature Guarantee)	 		 	

  

 ANNEX A-2 

 

 THIS NOTE IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN
THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND
NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
  

			
	REGISTERED	  	$[                    ]
		
	No. [            ]	  	CUSIP No. 354613 AF8

FRANKLIN RESOURCES, INC. 

3.125% NOTES DUE 2015 

Franklin Resources, Inc., a Delaware corporation (the “Company”), for value received, hereby promises to pay to CEDE &
CO., or registered assigns, the principal amount stated above on May 20, 2015 (the “Maturity Date”) and to pay interest thereon at the rate per annum equal to 3.125% (the “Interest Rate”) until the principal hereof is fully
paid or duly made available for payment. The Company will pay interest at the Interest Rate per annum specified above (computed on the basis of a 360-day year consisting of twelve 30-day months) semi-annually in arrears on May 20 and
November 20 of each year (each an “Interest Payment Date”) commencing November 20, 2010 and on the Maturity Date on said principal amount. Interest on this Note will accrue from the most recent Interest Payment Date to which
interest has been paid or duly provided for or, if no interest has been paid, from May 20, 2010 until the principal hereof has been paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on the
Interest Payment Dates, will, as provided in the Indenture referred to below, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest,
which shall be May 1 or November 1, whether or not a Business Day, as the case may be, immediately preceding such Interest Payment Date; provided, however, that interest payable on the Maturity Date will be payable to the
Person to whom the principal hereof shall be payable; and provided, further, however, that if such Interest Payment Date or the Maturity Date would fall on a day that is not a Business Day, such Interest Payment Date or the
Maturity Date shall be the next succeeding Business Day. Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder on such Regular Record Date,
and may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall
be given to the Holder of this Note not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed
and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

 Payment of the principal of and interest on this Note shall be made at the office or agency
of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debt;
provided, however, that payment of interest on any Interest Payment Date (other than the Maturity Date) may be made at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall appear
in the Security Register, or by wire transfer of immediately available funds, if the registered Holder has so requested by a notice in writing delivered to the Trustee not less than 16 days prior to the Interest Payment Date on which such payment is
due, which notice shall provide appropriate instructions for such transfer. 
 The principal hereof and interest due at maturity
will be paid upon maturity in immediately available funds against presentation of this Note at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH ON THE FACE HEREOF. 
 This Note shall be governed by and construed in accordance
with the laws of the State of New York applicable to agreements made or instruments entered into and performed in said state. 

Unless the certificate of authentication hereon has been executed by The Bank of New York Mellon Trust Company, N.A. as the Trustee under
the Indenture, or its successor thereunder by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

Dated: May 20, 2010 
  

			
	FRANKLIN RESOURCES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 Attested: 

	
	
	
	  
	      

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

 

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

		 	 Authorized Signatory

 [Reverse of Note] 

FRANKLIN RESOURCES INC. 

3.125% NOTES DUE 2015 

This Note is one of a duly authorized issue of debentures, notes or other evidences of Indebtedness (hereinafter called the
“Securities”) of the Company of the series hereinafter specified, all such Securities issued and to be issued under the Indenture, dated as of May 19, 1994, as amended by a First Supplemental Indenture, dated as of October 9,
1996 and as further amended and supplemented by the Second Supplemental Indenture, dated as of May 20, 2010 (as so amended and supplemented, the “Indenture”) between the Company and The Bank of New York Mellon Trust Company,
N.A., as successor in interest to Chemical Bank, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures or officers’ certificates, as applicable,
supplemental thereto, reference is hereby made for a statement of the respective rights and limitations of rights thereunder of the Company, the Trustee and the Holders of the Securities, and the terms upon which the Securities are, and are to be,
authenticated and delivered. As provided in the Indenture, Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at
different rates, may be subject to different redemption provisions, if any, may be subject to different repayment provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and
Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated as 3.125% Notes due 2015 (the “Notes”). The Notes are unsecured and unsubordinated obligations of
the Company and rank equal in right of payment to all other unsubordinated Indebtedness of the Company. The Notes are not subject to the operation of any sinking fund or an analogous provision. 

The Notes are redeemable, as a whole or in part, at the Company’s option at any time at a redemption price (as calculated by the
Company) equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum as determined by the Company of the present values of the remaining scheduled payments of principal and interest thereon
(exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus accrued interest thereon
to the date of redemption. Notice of any redemption will be given by the Company or the Trustee at the written request and expense of the Company at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes. In
connection with any redemption, the Company shall deliver the Trustee an Officers’ Certificate setting forth the calculation of the redemption price no later than two (2) Business Days prior to the redemption date. Unless there occurs a
default in payment of the redemption price, on and after the redemption date interest shall cease to accrue on the Notes or portions thereof called for redemption. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated yield to maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date. 

 “Comparable Treasury Issue” means the United States Treasury security or
securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Comparable Treasury Price” means, with respect to any redemption date, (A) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption
date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at
3:30 p.m. New York time on the third business day preceding such redemption date. 
 “Reference Treasury Dealer” means
each of Banc of America Securities LLC and Morgan Stanley & Co. Incorporated, or their affiliates which are primary U.S. government securities dealers, and their respective successors; provided, however, that if any of the foregoing or
their affiliates shall cease to be a primary U.S. government securities dealer in The City of New York (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 

If any Event of Default (as defined in the Indenture) with respect to the Notes shall occur and be continuing, the Trustee or the Holders
of not less than 25% in principal amount of the Outstanding Notes may declare the principal of all the Notes due and payable in the manner and with the effect provided in the Indenture. 

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

Holders of Notes may not enforce their rights pursuant to the Indenture or the Notes except as provided in the Indenture. No reference
herein to the Indenture and no provision of this Note or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, 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 Note may be registered on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company, and this Note duly executed by, the Holder hereof or by his attorney duly authorized in writing and thereupon one or more new Notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like
aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the same. 

No service charge will 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 the due presentment of this Note for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice of the contrary. 
 All capitalized terms used in this Note
and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned 

hereby sell(s), assign(s) and transfer(s) unto 
  

 
  

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  

 
  

 
  

 
  

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

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

 
  

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

					
	Dated:	 		 	  

			
	  	 		 	 
	(Signature Guarantee)	 		 	

 ANNEX A-3 

 

 THIS NOTE IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN
THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY. THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND
NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
  

			
	 REGISTERED
	 	$[                    ]
		
	 No. [            ]
	 	CUSIP No. 354613 AG6

FRANKLIN RESOURCES, INC. 

4.625% NOTES DUE 2020 

Franklin Resources, Inc., a Delaware corporation (the “Company”), for value received, hereby promises to pay to CEDE &
CO., or registered assigns, the principal amount stated above on May 20, 2020 (the “Maturity Date”) and to pay interest thereon at the rate per annum equal to 4.625% (the “Interest Rate”) until the principal hereof is fully
paid or duly made available for payment. The Company will pay interest at the Interest Rate per annum specified above (computed on the basis of a 360-day year consisting of twelve 30-day months) semi-annually in arrears on May 20 and
November 20 of each year (each an “Interest Payment Date”) commencing November 20, 2010 and on the Maturity Date on said principal amount. Interest on this Note will accrue from the most recent Interest Payment Date to which
interest has been paid or duly provided for or, if no interest has been paid, from May 20, 2010 until the principal hereof has been paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on the
Interest Payment Dates, will, as provided in the Indenture referred to below, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest,
which shall be May 1 or November 1, whether or not a Business Day, as the case may be, immediately preceding such Interest Payment Date; provided, however, that interest payable on the Maturity Date will be payable to the
Person to whom the principal hereof shall be payable; and provided, further, however, that if such Interest Payment Date or the Maturity Date would fall on a day that is not a Business Day, such Interest Payment Date or the
Maturity Date shall be the next succeeding Business Day. Any such interest which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the Holder on such Regular Record Date,
and may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall
be given to the Holder of this Note not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed
and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

 Payment of the principal of and interest on this Note shall be made at the office or agency
of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debt;
provided, however, that payment of interest on any Interest Payment Date (other than the Maturity Date) may be made at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall appear
in the Security Register, or by wire transfer of immediately available funds, if the registered Holder has so requested by a notice in writing delivered to the Trustee not less than 16 days prior to the Interest Payment Date on which such payment is
due, which notice shall provide appropriate instructions for such transfer. 
 The principal hereof and interest due at maturity
will be paid upon maturity in immediately available funds against presentation of this Note at the office or agency of the Trustee maintained for that purpose in the Borough of Manhattan, The City of New York. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH ON THE FACE HEREOF. 
 This Note shall be governed by and construed in accordance
with the laws of the State of New York applicable to agreements made or instruments entered into and performed in said state. 

Unless the certificate of authentication hereon has been executed by The Bank of New York Mellon Trust Company, N.A. as the Trustee under
the Indenture, or its successor thereunder by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

Dated: May 20, 2010 
  

			
	FRANKLIN RESOURCES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 Attested: 
  

	
	  

	      

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

 

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

		 	 Authorized Signatory

 [Reverse of Note] 

FRANKLIN RESOURCES INC. 

4.625% NOTES DUE 2020 

This Note is one of a duly authorized issue of debentures, notes or other evidences of Indebtedness (hereinafter called the
“Securities”) of the Company of the series hereinafter specified, all such Securities issued and to be issued under the Indenture, dated as of May 19, 1994, as amended by a First Supplemental Indenture, dated as of October 9,
1996 and as further amended and supplemented by the Second Supplemental Indenture, dated as of May 20, 2010 (as so amended and supplemented, the “Indenture”) between the Company and The Bank of New York Mellon Trust Company,
N.A., as successor in interest to Chemical Bank, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures or officers’ certificates, as applicable,
supplemental thereto, reference is hereby made for a statement of the respective rights and limitations of rights thereunder of the Company, the Trustee and the Holders of the Securities, and the terms upon which the Securities are, and are to be,
authenticated and delivered. As provided in the Indenture, Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if any, at
different rates, may be subject to different redemption provisions, if any, may be subject to different repayment provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and
Events of Default and may otherwise vary as in the Indenture provided or permitted. This Note is one of a series of the Securities designated as 4.625% Notes due 2020 (the “Notes”). The Notes are unsecured and unsubordinated obligations of
the Company and rank equal in right of payment to all other unsubordinated Indebtedness of the Company. The Notes are not subject to the operation of any sinking fund or an analogous provision. 

The Notes are redeemable, as a whole or in part, at the Company’s option at any time at a redemption price (as calculated by the
Company) equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum as determined by the Company of the present values of the remaining scheduled payments of principal and interest thereon
(exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points, plus accrued interest thereon
to the date of redemption. Notice of any redemption will be given by the Company or the Trustee at the written request and expense of the Company at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes. In
connection with any redemption, the Company shall deliver the Trustee an Officers’ Certificate setting forth the calculation of the redemption price no later than two (2) Business Days prior to the redemption date. Unless there occurs a
default in payment of the redemption price, on and after the redemption date interest shall cease to accrue on the Notes or portions thereof called for redemption. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semiannual equivalent yield to
maturity or interpolated yield to maturity (on a day count basis) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for
such redemption date. 

 “Comparable Treasury Issue” means the United States Treasury security or
securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of such Notes. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Comparable Treasury Price” means, with respect to any redemption date, (A) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (B) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption
date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at
3:30 p.m. New York time on the third business day preceding such redemption date. 
 “Reference Treasury Dealer” means
each of Banc of America Securities LLC and Morgan Stanley & Co. Incorporated, or their affiliates which are primary U.S. government securities dealers, and their respective successors; provided, however, that if any of the foregoing or
their affiliates shall cease to be a primary U.S. government securities dealer in The City of New York (a “Primary Treasury Dealer”), the Company shall substitute therefor another Primary Treasury Dealer. 

If any Event of Default (as defined in the Indenture) with respect to the Notes shall occur and be continuing, the Trustee or the Holders
of not less than 25% in principal amount of the Outstanding Notes may declare the principal of all the Notes due and payable in the manner and with the effect provided in the Indenture. 

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

Holders of Notes may not enforce their rights pursuant to the Indenture or the Notes except as provided in the Indenture. No reference
herein to the Indenture and no provision of this Note or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, 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 Note may be registered on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company, and this Note duly executed by, the Holder hereof or by his attorney duly authorized in writing and thereupon one or more new Notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable
only in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like
aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the same. 

No service charge will 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 the due presentment of this Note for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice of the contrary. 
 All capitalized terms used in this Note
and not otherwise defined herein shall have the meanings assigned to them in the Indenture. 
  

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned 

hereby sell(s), assign(s) and transfer(s) unto 
  

 
  

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 
  

 
  

 
  

 
  

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

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

 
  
  

 

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

					
	Dated:	 		 	  

			
	  
	 		 	
	(Signature Guarantee)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]