Document:

Amended and Restated Unit Award Plan

 Exhibit 10.6.6 
 AMENDED AND RESTATED 
 ENERGY TRANSFER PARTNERS, L.P. 
 2004 UNIT PLAN 
 Energy Transfer
Partners, L.L.C., a Delaware limited liability company (the “Company”), the general partner of Energy Transfer Partners GP, L.P., a Delaware limited partnership (the “General Partner”), as the general partner of
Energy Transfer Partners, L.P. (the “Partnership”), established this Energy Transfer Partners, L.P. 2004 Unit Plan (the “Plan”), which Plan has been approved by the Board of Directors of the Company and the holders
of a majority of the Units entitled to vote on such approval. The Company hereby amends and restates the Plan in its entirety as of May 2, 2007 to provide as follows: 
 1. Purpose. The purpose of the Plan is to promote the interests of the General Partners and the Partnership by encouraging key officers and
employees of the Partnership and its Subsidiaries, and the Director Participants of the Company and their successors to acquire or increase their ownership of limited partnership interests (“Units”) in the Partnership and to provide
a means whereby such individuals may develop a sense of proprietorship and personal involvement in the development and financial success of the Partnership, and to encourage them to devote their best efforts to the business of the Partnership,
thereby advancing the interests of the Partnership and encouraging them to maximize the Partnership’s value and ability to pay distributions to holders of its Common Units. 
 2. Definitions. As used in this Plan: 
 (a) “Affiliate” means any person that directly or indirectly controls, is controlled by, or is under common control with the person in question. As used in this definition, the term “control” means the possession,
directly or indirectly, of the power to direct or cause a direction of the management and policies of a person whether through ownership of voting securities, by contract or otherwise. When used with reference to any individual, the term
“Affiliate” shall also mean any person that is a relative (within the second degree consanguinity) or spouse of such individual or is a guardian of such individual or such spouse or is a trust or estate in which such individual owns a 5%
or greater beneficial interest or of which such individual serves as trustee, executor or in any similar capacity. 
 (b) “Annual
Director’s Grant” means the annual grant of an Award of Units to a Director Participant as set forth in Section 5(b) hereof. 
 (c) “Award” means a notional grant or other right granted under the Plan, which upon vesting in accordance with the terms set forth for such Award, entitles the participants to receive Units or the Fair Market Value of such
Units in cash, Options or Unit Appreciation Rights, as determined by the Committee. 
 (d) “Board” means the Board of
Managers and Directors of the Company, as the general partner of the General Partner of the Partnership. 
 (e) “Change in
Control” means any of: 
  

 (i) the date on which the General Partner ceases to be the general partner of the Partnership; or

 (ii) the date that the Parent ceases to own, directly or indirectly through wholly-owned subsidiaries, in the aggregate of at least 51% of
the capital stock or equity interests of the General Partner; or 
 (iii) the sale of all or substantially all of the assets of the
Partnership (other than to any Affiliate of the Parent); or 
 (iv) a liquidation or dissolution of the Partnership. 
 (f) “Committee” means the Compensation Committee of the Board of Directors of the Company, in its capacity as the general partner of the
General Partner of the Partnership. 
 (g) “Common Units” mean the common units representing limited partnership interests
of the Partnership. 
 (h) “Company” means Energy Transfer Partners, L.L.C., the general partner of the General Partner.

 (i) “Date of Grant” means (i) with respect to a grant of an Award to an Employee, the date specified by the
Committee on which such grant is effective, and (ii) with respect to a grant of an Award to a Director Participant, the automatic date of grant as provided in Section 5. 
 (j) “Director Participant” means a manager and director of the Company, the general partner of the General Partner, or other similar
manager of the governing body of the General Partner who is not also (i) a shareholder or a direct or indirect employee of any Parent, or (ii) a direct or indirect employee of the Company, the Partnership, or a Subsidiary. 
 (k) “Disability” means an illness or injury that lasts at least 6 months, is expected to be permanent and renders the Participant unable
to carry out his or her duties to the Company and the Partnership, or any of their Subsidiaries. 
 (l) “Effective Date”
means the date on which the Plan is approved by a majority of the holders of Units entitled to vote for such approval. 
 (m)
“Employee” means any individual who is an officer or employee of the Company, the Partnership, or a Subsidiary of any such entity, rendering his or her primary service to the Partnership. 
 (n) “Executive Officer” means any individual who is an officer of the Company or has been designated by the Board as an executive
officer of the Partnership. 
  

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 (o) “Fair Market Value” means the fair market value of property (including, without
limitation, any Units or other securities) as determined by such methods or procedures as shall be established from time to time by the Committee. 
 (p) “General Partner” means Energy Transfer Partners GP, L.P., the general partner of Energy Transfer Partners, L.P. 
 (q) “Initial Director’s Grant” means the grant of an Award of up to 2,000 Units, made at the time such Director Participant is first elected or appointed to the Board, as set forth in Section 5(a) hereof.

 (r) “Option” means an option to purchase units granted under the Plan. 
 (s) “Parent” means Energy Transfer Equity, L.P. 
 (t) “Participant” means an Employee or Executive Officer who is selected by the Committee to receive an Award and shall also include a Director Participant pursuant to Section 5. 
 (u) “Partnership” means Energy Transfer Partners, L.P. 
 (v) “Partnership Agreement” means the Amended and Restated Agreement of Limited Partnership of Energy Transfer Partners, L.P., as amended from time to time. 
 (w) “Restricted Period” means the period established by the Committee with respect to an Award during which the Award remains subject to
forfeiture or is not exercisable by the Participant. 
 (x) “Restricted Unit” means a limited partnership interest in the
Partnership represented by a Common Unit or other limited partner interest of the Partnership, as set forth in the Partnership Agreement, or any amendment thereto, as the securities of the Partnership, that is not registered pursuant to a
registration statement and may be subject to certain restrictions limiting transferability under securities laws. 
 (y) “Rule
16b-3” means Rule 16b-3 of the Securities and Exchange Commission (or any successor rule to the same effect) as in effect from time to time. 
 (z) “Subsidiary” means any entity in which, at the relevant time, the General Partner or Partnership owns or controls, directly or indirectly, not less than 50% of the total combined voting power
represented by all classes of equity interests issued by such entity. 
 (aa) “Unit” means a limited partnership interest in
the Partnership represented by a Common Unit or other limited partner interest of the Partnership, as set forth in the Partnership Agreement, or any amendment thereto, as the securities of the Partnership. 
 (bb) “Unit Appreciation Right” or “UAR” means the right to receive a payment, in cash or in Units, equal to the excess of the
Fair Market Value or other specified valuation 

  

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of a specified number of Units on the date the unit appreciation right is exercised over a specified strike price, all as determined by the Committee.

 3. Units Available Under Plan. The maximum number of Common Units that may be granted under this Plan is 900,000 net Units issued.
Any Awards that are forfeited or which expire for any reason, or any Units which are not used in the settlement of an Award will again be available for grant under the Plan. 
 (a) Units to be delivered upon the vesting of Awards granted under the Plan may be: (i) Units acquired by the Company in the open market,
(ii) Units already owned by the Company or General Partner, (iii) Units acquired by the Company or General Partner directly from the Partnership, or any other person, (iv) Units that are registered under a registration statement for
this Plan, (v) Restricted Units, or (vi) any combination of the foregoing. 
 (b) In the event that the Committee determines that
any distribution (whether in the form of cash, Units, other securities or other property), recapitalization, split, reverse split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Units or other
securities of the Partnership, issuance of warrants or other rights to purchase Units or other securities of the Partnership, or other similar transaction or event affects the Units such that an adjustment is appropriate in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Units (or other securities or
property) with respect to which Awards may be granted, (ii) the number and type of Units (or other securities or property) subject to outstanding Awards, and (iii) the grant or exercise price with respect to any Award or, if deemed
appropriate, make provision for a cash payment to the holder of an outstanding Award; provided, that the number of Units subject to any Award shall always be a whole number. 
 (c) Any Award under Sections 4 and 6 of this Plan that is awarded or will vest based upon the achievement of performance objectives is intended to
qualify as “qualified performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code. If any provision of this Plan or any Award does not comply or is inconsistent with the requirement of
Section 162(m), such provision shall be deemed to confer upon the Committee the discretion to increase the amount of compensation otherwise payable in connection with the settlement of any Award upon the attainment of the performance
objectives. 
 4. Employee Grants. The Committee, in its discretion, may from time to time grant Awards to any Employee, upon such
terms and conditions as it may determine appropriate and in accordance with the following general guidelines: 
 (a) Each Award will specify
the number of Units to which it pertains. 
 (b) Each grant of an Award will specify the terms and conditions for the Participant to become
vested in such Units. Unless earlier terminated, the rights to acquire the Units 

  

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awarded will vest (i) over a period of five years from the Date of Grant at such times and in such amounts as the Committee shall determine;
(ii) the date of the Participant’s death or Disability, or (iii) on such terms as the Committee may establish which may include the achievement of performance objectives. 
 (c) The Committee may, in its discretion, designate any Award the exercisability or settlement of which is subject to the achievement of performance
conditions as a performance-based Award subject to this Section 4, in order to qualify such Award as “qualified performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code and regulations
thereunder. The performance objectives for an Award under this Section 4 shall consist of one or more business criteria, as specified by the Committee. Performance objectives shall be objective and shall otherwise meet the requirements of
Section 162(m)(4)(C) of the Code. The levels of performance required with respect to such business criteria may be expressed in absolute or relative levels. Achievement of performance objectives with respect to such Awards shall be measured
over a period of not less than one (1) year nor more than five (5) years, as the Committee may specify. Performance objectives may differ for such Awards to different Participants. The Committee shall specify the weighting to be given to
each performance objective for purposes of determining the final amount payable with respect to the settlement of any such Award. All determinations by the Committee as to the achievement of performance objectives shall be in writing. The Committee
may not delegate any responsibility with respect to an Award subject to this Section 4. 
 (d) The Committee may, in its discretion,
terminate or revoke an Award to any Employee that voluntarily terminates employment or who enters into competition with the Company or the Partnership after termination of employment. 
 (e) Each grant of an Award will be evidenced by a written notification executed on behalf of the Company by the Chief Executive Officer or the Chairman
of the Compensation Committee of the Board and delivered to and accepted by the Participant, and shall contain such terms and provisions, consistent with this Plan, as the Committee may approve with respect to such Award, including provisions
relating to the earlier vesting of the Units upon a Change in Control. 
 (f) Notwithstanding any of the foregoing, all outstanding Awards
shall fully vest into Units upon any Change in Control. 
 5. Director Grants 
 (a) Each Director Participant who is elected or appointed to the Board for the first time after the Plan’s effective date and each Director
Participant on the date of the Plan’s effective date who has not previously received an Initial Director’s Grant shall automatically receive, on the date of his or her election or appointment, an Award of up to 2,000 Units (the
“Initial Director’s Grant”). 
 (b) Commencing on September 1, 2004, and each September 1 thereafter that
this Plan is in effect, each Director Participant who is in office on such September 1, shall automatically receive an Award of Units equal to $15,000 divided by the Fair Market 

  

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Value of a Common Unit on such date, rounded up to the nearest increment of ten Units (the “Annual Director’s Grant”). 
 (c) Each grant of an Award to a Director Participant will vest at the rate of 33 1/3% per year, beginning on the first anniversary of the date of
the Award; provided, however, notwithstanding the foregoing, (i) all Awards to a Director Participant shall become fully vested upon a Change in Control, unless voluntarily waived by such Director Participant, and (ii) all Awards which
have not yet vested on the date a Director Participant ceases to be a director shall vest on such terms as may be determined by the Committee. 
 (d) In the event that the number of Units available to be awarded under this Plan is insufficient to make all automatic grants to Director Participants as provided for in this Section 5 on the applicable date, all Director Participants
who are entitled to receive a grant of an Award on such date shall share ratably in the number of Units then available for award under this Plan and thereafter shall have no right to receive any additional grants under this Section 5.

 (e) Grants made pursuant to this Section 5 shall be subject to all of the terms and conditions of this Plan; however, if there is a
conflict between the terms and conditions of this Section 5 and the terms and conditions of any other provision hereof, then the terms and conditions of this Section 5 shall control. The Committee may not exercise any discretion with
respect to this Section 5 which would be inconsistent with the intent that this Plan meets the requirements of Rule 16b-3. 
 6.
Long-Term Incentive Grants. The Committee may, from time to time, grant Awards under this Section 6 to any Executive Officer or any Employee it may designate as a Participant in accordance with the following general guidelines:

 (a) An Award under this Section 6 shall consist of one or more of the following: (i) Options to purchase a specified number of
Units at a specified exercise price, and shall be clearly designated in the Award as either an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code, or a “non-qualifying stock option” that
is not intended to qualify as an incentive stock option under Section 422; (ii) Unit Appreciation Rights that specify the terms of the Fair Market Value of the Award on the date the stock appreciation right is exercised and the strike
price; (iii) Units; or (iv) any combination hereof. 
 (b) The performance objectives for an Award under this Section 6 shall
consist of one or more business criteria, as specified by the Committee and is intended to qualify such Award as “qualified performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code. Performance
objectives shall be objective and expressed in absolute or relative levels, and shall otherwise meet the requirements of Section 162(m)(4)(C) of the Code. The periods for achievement of performance objectives shall be specified by the Committee
within the Award. Performance objectives may differ for such Awards to different Participants. The Committee shall specify the weighting to be given to each performance objective for purposes of determining the final amount payable with respect to
the settlement of any Award. All determinations by the Committee as to an Award or the achievement of 

  

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performance objectives shall be in writing. The Committee may not delegate any responsibility with respect to an Award subject to this Section 6.

 (c) The Committee shall have the authority to determine the Executive Officer or Employee to whom Options or UARs shall be granted, the
number of Units to be covered by each Option or UAR, the exercise price therefore, the Restricted Period, and the conditions and limitations applicable to the exercise of the Option or UAR, that are not inconsistent with the provisions of the Plan.

 (d) The exercise price per Unit purchasable under an Option or UAR shall be determined by the Committee at the time the Option or UAR is
granted, and may be more or less than the Fair Market Value as of the date of the grant. 
 (e) The Committee shall determine the Restricted
Period and the method or methods by which payment of the exercise price may be made or deemed to have been made, which may include, without limitation, cash, check acceptable to the Committee, a “cashless-broker” exercise through
procedures approved by the Committee, or any combination thereof. 
 (f) Any Option or UAR granted hereunder shall be exercisable only by the
Participant during the Participant’s lifetime, or by the person to whom the Participant’s rights shall pass by will or the laws of descent and distribution within the time periods specified by the Committee in the Award granting such
Option or UAR. 
 (g) The Committee shall have the authority to determine the Awards which may be granted to an Executive Officer or
Employee, including the number of Units for such Award, the target or performance criteria for such award, the Restricted Period, and the conditions and limitations applicable to the receipt of Units issued pursuant to the attainment of such target
or performance levels, that are not inconsistent with the provisions of the Plan. 
 (h) An Award to an Executive Officer or Employee under
Section 6 hereof may be terminated or revoked as to any Executive Officer or Employee who voluntarily terminates employment or who enters into competition with the Company or the Partnership after termination of employment, as determined by the
Committee. 
 (i) Each grant of an Award pursuant to these Long-Term Incentive Grants will be evidenced by a written notification executed on
behalf of the Company by the Chief Executive Officer or the Chairman of the Compensation Committee of the Board and delivered to and accepted by the Participant, and shall contain such terms and provisions, consistent with this Plan, as the
Committee may approve with respect to such Award, including provisions relating to the earlier vesting of the Units upon a Change in Control. 
 (j) Notwithstanding any of the foregoing, all outstanding Awards made pursuant to a Long-Term Incentive Grant, shall fully vest into Units and all Options or UARs previously granted shall be required to be exercised upon any Change in
Control. 
  

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 7. Transferability and Forfeiture. No Awards granted under this Plan shall be transferable by a
Participant other than (i) by will or the laws of descent and distributions; or (ii) to a trust for the benefit of such Participant or their immediate family. Except as otherwise provided by the Committee in the terms of the Award, upon
termination of a Participant’s employment during the applicable Restricted Period, all Awards that have not yet vested shall be forfeited by the Participant; provided, however, that if the reason for the termination is the Participant’s
death or Disability, all Awards shall vest automatically and all unexercised Options and UARs shall expire automatically if not exercised by the Participant or the person entitled to exercise such Option or UAR within the time periods designated by
the Committee in the applicable Award. The Committee may, in its discretion, waive in whole or in part any forfeiture. 
 8.
Adjustments. In the event that (i) any change is made to the Units deliverable under the Plan, or (ii) the Partnership makes any distribution of cash, Units or other property to Unitholders which results from the sale or disposition
of a major asset or separate operating division of the Partnership or any other extraordinary event, and, in the judgment of the Committee, such change or distribution would significantly dilute the value of any Units awarded to the Participants
hereunder, then the Committee may make appropriate adjustments in the maximum number of Units deliverable pursuant to an Award under the Plan and may make appropriate adjustments. The adjustments determined by the Committee shall be final, binding
and conclusive. 
 9. No Fractional Units. The Company will not be required to deliver any fractional Units pursuant to this Plan. The
Committee, in its discretion, may provide for the elimination of fractions or for the settlement of fractions in cash. 
 10. Cash
Payments. The Committee shall have the authority to determine whether an Employee or an Executive Officer receives Units or an amount in cash that is equal to the Fair Market Value of such Units to which the Participant is entitled at the time
such Award is made to an Employee or Executive Officer or at the time an Award granted to an Employee or Executive Officer vests. 
 11.
Withholding of Taxes. To the extent that the Company is required to withhold federal, state, local or foreign taxes in connection with any grant of an Award, the issuance of Units upon vesting of an Award, in whole or in part, or payment made
to a Participant or any other person under this Plan, it will be a condition to the receipt of such payment that the Participant or such other person make arrangements satisfactory to the Company for the payment of such taxes required to be
withheld. In addition, a Participant may relinquish such Participant’s right to a portion of the Units to which they are entitled in connection with the issuance of Units upon vesting of an Award, in whole or in part, as payment for such taxes.
In the event a Participant gives written notice to the Company of such Participant’s election to relinquish a portion of the Units to which such person is entitled to be issued upon the vesting of an Award, in whole or in part, to satisfy the
required tax withholding obligation, the Company shall make a cash payment to the Participant equal to the Fair Market Value of the Units to be relinquished as determined at the time of such payment (such payment not to exceed the amount of the
taxes for which the relinquishment was made), and such Participant shall relinquish a number of Units equal to the amount of such cash payment divided by the Fair Market Value of a Unit at the time of such payment. Any Units relinquished shall be
available for future issuance under the Plan by the Company. 
  

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 12. Rule 16b-3. It is intended that the Plan and any Award granted to a person subject to
Section 16 of the Securities and Exchange Act of 1934 meet all of the requirements of Rule 16b-3. If any provision of the Plan or any such grant would disqualify the Plan or such grant under, or would otherwise not comply with Rule 16b-3, such
provision or grant shall be construed or deemed amended to conform to Rules 16b-3. 
 13. Investment Representation. Unless the Units
subject to the Awards granted under the Plan have been registered under the Securities Act of 1933, as amended (the “1933 Act”), and, in the case of any Participant who may be deemed an affiliate (for securities law purposes) of the
Company, the General Partner, or the Partnership, such Units have been registered under the 1933 Act for resale by such Participant, (or the Partnership has determined that an exemption from registration is available), the Company may require prior
to and as a condition of the delivery of any Units that the person vesting under an Award hereunder furnish the Company with a written representation in a form prescribed by the Committee to the effect that such person is acquiring said Units solely
with a view to investment for his or her own account and not with a view to resale or distribute all or any part hereof, and that such person will not dispose of any of such Units otherwise in accordance with the provisions of Rule 144 under the
1933 Act unless and until either the Units are registered under the 1933 Act or the Company is satisfied that an exemption from such registration is available. 
 14. Compliance with Securities Laws. Notwithstanding anything herein or in any other agreement to the contrary, the Partnership shall not be obligated to sell or issue any Units to the Company or General
Partner under the Plan unless and until the Partnership is satisfied that such sale or issuance complies with (i) all applicable requirements of the securities exchange on which the Units are traded (or the governing body of the principal
market in which such Units are traded, if such Units are not then listed on an exchange, (ii) all applicable provisions of the 1933 Act, and (iii) all other laws or regulations by which the Partnership is bound or to which the Partnership
is subject. The Company acknowledges that, as the general partner of the General Partner of the Partnership, it is an affiliate of the Partnership under securities laws and it shall comply with such laws and obligations of the Partnership relating
thereto as if they were directly applicable to the Company. 
 15. Administration of the Plan. 
 (a) This Plan will be administered by the Compensation Committee of the Board of Directors, which at all times will consist entirely of not less than
three directors appointed by the Board, each of whom will be a “disinterested person” within the meaning of Rule 16b-3. A majority of the Committee will constitute a quorum, and the action of the members the Committee present at any
meeting at which a quorum is present, or acts unanimously approved in writing, will be the acts of the Committee. 
 (b) Subject to the terms
of the Plan and applicable law, the Committee shall have the sole power, authority and discretion to: (i) designate the Employees or Executive Officers who are to be Participants; (ii) determine the number of Awards to be granted to an
Employee or Executive Officer; (iii) determine the terms and conditions of any grant of an Award to be granted to an Employee or Executive Officer; (iv) interpret, construe and administer the Plan and any instrument or agreement relating
to Awards granted under the Plan; (v) establish, amend, suspend, or waive such rules and regulations and 

  

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appoint such agents as it shall deem appropriate for the proper administration of the Plan; (vi) make a determination as to the right of any person to
receive payment of (or with respect to) Units; and (vii) make any other determinations and take any other actions that the Committee deems necessary or desirable for the administration of the Plan. 
 (c) The Committee may correct any defect, supply any omission, or reconcile any inconsistency in the Plan or any grant of an Award under the Plan, in the
manner and to the extent it shall deem desirable in the establishment or administration of the Plan. 
 16. Amendments, Terminations,
Etc. 
 (a) This Plan may be amended from time to time by the Board; provided however, that no amendment will be made without the
approval of a majority of the Unitholders (i) if such amendment would require Unitholder approval under the rules and regulations of the New York Stock Exchange or the Securities and Exchange Commission; (ii) that would extend the maximum
period during which an Award may be granted under the Plan; (iii) materially increase the cost of the Plan to the Partnership; or (iv) result in this Plan no longer satisfying the requirements of Rule 16b-3. Further, the provisions of
Section 5 may not be amended more than once every six months other than to comport with changes in the Internal Revenue Code, the Employee Retirement Income Security Act of 1974, as amended, or the rules thereunder. 
 (b) This Plan will not confer upon any Participant any right with respect to continuance of employment or other service with the Company, the General
Partner or the Partnership, or any Subsidiary, nor will it interfere in any way with any right the Company, the General Partner, the Partnership, or any Subsidiary would otherwise have to terminate such Participant’s employment or other service
at any time. 
 (c) This Plan shall terminate no later than the 10th anniversary of its original effective date. 
 17. Governing Law. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with applicable Federal law, and to the extent not
preempted thereby, with the laws of the State of Delaware. 
  

 10Third Supplemental Indenture

 Exhibit 4.5 
  

 THIRD SUPPLEMENTAL INDENTURE 
 between 
 WACHOVIA CORPORATION 
 and 
 U.S. BANK NATIONAL ASSOCIATION

 Dated as of May 8, 2007 
 Supplement to Indenture, 
 dated as of February 1, 2006 
  

 TABLE OF CONTENTS 
  

					
	ARTICLE I DEFINITIONS	  	1
			
	Section 1.1.	  	Definitions	  	1
		
	ARTICLE II GENERAL TERMS AND CONDITIONS OF THE LOTSSM	  	9
			
	Section 2.1.	  	Designation, Principal Amount and Authorized Denomination	  	9
	Section 2.2.	  	Repayment	  	9
	Section 2.3.	  	Form	  	12
	Section 2.4.	  	Rate of Interest; Interest Payment Date	  	12
	Section 2.5.	  	Interest Deferral	  	13
	Section 2.6.	  	Dividend and Other Payment Stoppages during Deferral Period	  	14
	Section 2.7.	  	Alternative Payment Mechanism	  	15
	Section 2.8.	  	Redemption of the LoTSSM	  	17
	Section 2.9.	  	Events of Default	  	17
	Section 2.10.	  	Securities Registrar; Paying Agent; Delegation of Trustee Duties	  	18
	Section 2.11.	  	Obligation to Seek Shareholder Approval to Increase Authorized Share	  	18
	Section 2.12.	  	Limitation on Claims in the Event of Bankruptcy, Insolvency or Receivership	  	19
	Section 2.13.	  	Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Trust Preferred Securities.	  	19
		
	ARTICLE III REPAYMENT OF LOTSSM	  	20
			
	Section 3.1.	  	Repayments	  	20
	Section 3.2.	  	Selection of the LoTSSM to be Repaid	  	20
	Section 3.3.	  	Notice of Repayment	  	20
	Section 3.4.	  	Deposit of Repayment Amount	  	21
	Section 3.5.	  	Repayment of LoTSSM	  	21
		
	ARTICLE IV EXPENSES	  	21
			
	Section 4.1.	  	Expenses	  	21
		
	ARTICLE V FORM OF LOTSSM	  	22
			
	Section 5.1.	  	Form of LoTSSM	  	22
		
	ARTICLE VI ORIGINAL ISSUE OF LOTSSM	  	29
			
	Section 6.1.	  	Original Issue of LoTSSM	  	29
	Section 6.2.	  	Calculation of Original Issue Discount	  	29

  

 THIRD SUPPLEMENTAL INDENTURE 
 -i- 

					
	ARTICLE VII SUBORDINATION	  	29
			
	Section 7.1.	  	Senior Debt	  	29
	Section 7.2.	  	Compliance with Federal Reserve Rules	  	30
		
	ARTICLE VIII MISCELLANEOUS	  	30
			
	Section 8.1.	  	Effectiveness	  	30
	Section 8.2.	  	Modification of Supplemental Indenture	  	30
	Section 8.3.	  	Miscellaneous	  	30
	Section 8.4.	  	Successors and Assigns	  	30
	Section 8.5.	  	Further Assurances	  	31
	Section 8.6.	  	Effect of Recitals	  	31
	Section 8.7.	  	Ratification of Indenture	  	31
	Section 8.8.	  	Governing Law	  	31

  

 THIRD SUPPLEMENTAL INDENTURE 
 -ii- 

 THIRD SUPPLEMENTAL INDENTURE, dated as
of May 8, 2007 (the “Third Supplemental Indenture”), between WACHOVIA CORPORATION, a North Carolina corporation (the “Company”), having its principal office
at 301 South College Street, Charlotte, North Carolina 28288, and U.S. BANK NATIONAL ASSOCIATION, as trustee (hereinafter called the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company and the Trustee entered into an Indenture, dated as of February 1, 2006 (the “Indenture”). 
 Wachovia Capital Trust IX, a Delaware statutory trust (the “Trust”), has offered
to the public its trust preferred securities known as 6.375% Trust Preferred Securities (the “Trust Preferred Securities”), which are beneficial interests in the Trust, and proposes to invest the proceeds from such offering,
together with the proceeds of the issuance and sale by the Trust to the Company of its common securities (the “Trust Common Securities” and, together with the Trust Preferred Securities, the “Trust Securities”), in
the LoTSSM (as defined herein). 
 Section 9.1 of the Indenture provides that the Company and the Trustee may, without the consent of any Holder, enter into a supplemental indenture to establish the form or terms of securities of any series as
permitted by Section 2.1 or 3.1 thereof. 
 Pursuant to Sections 2.1 and 3.1 of the Indenture, the Company desires to provide for the
establishment of a new series of Securities under the Indenture, the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this Third Supplemental Indenture.

 The Company has delivered to the Trustee an Opinion of Counsel and an Officers’ Certificate pursuant to Section 9.3 of the
Indenture to the effect that all conditions precedent provided for in the Indenture to the Trustee’s execution and delivery of this Third Supplemental Indenture have been complied with. 
 The Company has requested that the Trustee execute and deliver this Third Supplemental Indenture
and satisfy all requirements necessary to make this Third Supplemental Indenture a valid instrument in accordance with its terms, and to make the LoTSSM, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company and all acts and things necessary have been done and performed to make this Third
Supplemental Indenture enforceable in accordance with its terms, and the execution and delivery of this Third Supplemental Indenture has been duly authorized in all respects. 
 NOW, THEREFORE, THIS THIRD
SUPPLEMENTAL INDENTURE WITNESSETH: For and in consideration of the premises and the purchase of the LoTSSM by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the LoTSSM, as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1. Definitions 
 For all purposes of this Third Supplemental Indenture, except as otherwise expressly provided
or unless the context otherwise requires: 
 (a) Terms defined in the Indenture or the Trust Agreement (as defined herein)
have the same meaning when used in this Third Supplemental Indenture unless otherwise specified herein. 

 THIRD SUPPLEMENTAL INDENTURE 

 (b) The terms defined in this Article have the meanings assigned to them in this Article,
and include the plural as well as the singular. 
 (c) The words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Third Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision, and any reference to an Article, Section or other subdivision refers to an
Article, Section or other subdivision of this Third Supplemental Indenture. 
 (d) Any reference herein to
“interest” includes any Additional Interest. 
 “APM
Period” means, with respect to any Deferral Period, the period commencing on the earlier of (i) the first Interest Payment Date following the commencement of such Deferral Period on which the Company pays any current interest on the
LoTSSM from any source of funds or (ii) the fifth anniversary of the commencement of the Deferral Period, and
ending on the next Interest Payment Date on which the Company has raised an amount of Eligible Proceeds at least equal to the aggregate amount of accrued and unpaid deferred interest on the LoTSSM, and has paid such interest on the LoTSSM. 
 “Business Combination” means a merger, consolidation, amalgamation or conveyance, transfer or lease of
assets substantially as an entirety by one Person to any other Person. 
 “Commercially Reasonable Efforts” to sell
Qualifying Capital Securities means commercially reasonable efforts to complete the offer and sale of Qualifying Capital Securities to Persons other than Subsidiaries in public offerings or private placements. The Company will not be considered to
have made Commercially Reasonable Efforts to effect a sale of Qualifying Capital Securities if it determines not to pursue or complete such sale due to pricing, coupon, dividend rate or dilution considerations. 
 “Common Stock” means the common stock of the Company. 
 “Common Equity Issuance Cap” has the meaning specified in Section 2.7(a). 
 “Company” has the meaning specified in the Recitals. 
 “Creditor” has the meaning specified in
Section 4.1. 
 “Current Stock Market Price” means, with respect to Common Stock on any date, (i) the closing sale
price per share (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions by the
New York Stock Exchange or if Common Stock is not then listed on the New York Stock Exchange, as reported by the principal U.S. securities exchange on which Common Stock is traded or quoted on the relevant date, (ii) if Common Stock is not
listed on any U.S. securities exchange on the relevant date the last quoted bid price for Common Stock in the over-the-counter market on the relevant date as reported by the National Quotation Bureau or similar organization, or (iii) if Common
Stock is not so quoted the average of the mid-point of the last bid and ask prices for Common Stock on the relevant date from each of at least three nationally recognized independent investment banking firms selected by the Company for this purpose.

  

 THIRD SUPPLEMENTAL INDENTURE 
 -2- 

 “Deferral Period” means the
period commencing on an Interest Payment Date with respect to which the Company elects to defer interest pursuant to Section 2.5 and ending on the earlier of (i) the tenth anniversary of that Interest Payment Date and (ii) the next
Interest Payment Date on which the Company has paid the amount deferred, all deferred amounts with respect to any subsequent period and all other accrued and unpaid interest on the LoTSSM. 
 “Eligible Proceeds” means,
for each relevant Interest Payment Date, the net proceeds (after deducting underwriters’ or placement agents’ fees, commissions or discounts and other expenses relating to the issuance or sale) the Company has received during the 180-day
period prior to such Interest Payment Date from the issuance or sale of Qualifying APM Securities (in the case of Qualifying Preferred Stock, up to the Preferred Stock Issuance Cap) to Persons that are not the Company’s Subsidiaries.

 “Extension Date” has the meaning specified in Section 2.2(b). 
 “Final Repayment Date” has the meaning specified in Section 2.2(b). 
 “Guarantee Agreement” means the Guarantee Agreement between the Company, as guarantor, and U.S. Bank National Association, as guarantee
trustee, dated as of May 8, 2007. 
 “Indenture” has the meaning specified in the Recitals. 
 “Intent-Based Replacement Disclosure” has the meaning specified in the Replacement Capital Covenant. 
 “Interest Payment Date” has the meaning specified in Section 2.4. 
 “Interest Period” means the period from, and including, any Interest Payment Date (or, in the case of the first Interest Payment Date,
May 8, 2007) to but excluding the next Interest Payment Date. 
 “Investment Company Event” means the receipt by the
Trust of an opinion of counsel experienced in such matters to the effect that, as a result of any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political
subdivision or taxing authority thereof or therein, or as a result of any official administrative pronouncement or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which pronouncement or
decision is announced on or after the date of issuance of the Trust Preferred Securities, there is more than an insubstantial risk that the Trust is or will be considered an “investment company” that is required to be registered under the
Investment Company Act of 1940, as amended. 
 “LoTSSM” has the meaning specified in Section 2.1.

 “Make-Whole Redemption Price” is equal to (x) 100% of
the principal amount of the LoTSSM being redeemed or (y) if greater, the sum of the present values of the
remaining scheduled payments of principal (discounted from June 15, 2012) and interest that would have been payable to and including June 15, 2012 (discounted from their respective Interest Payment Dates) on the LoTSSM to be redeemed (not including any portion of such payments of interest accrued to the Redemption Date) to the Redemption Date
on a quarterly basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points, as calculated by the Premium Calculation Agent, in each case plus accrued and unpaid interest to the Redemption Date.

  

 THIRD SUPPLEMENTAL INDENTURE 
 -3- 

 “Market Disruption Event” means, with respect to the issuance or sale of Qualifying
Capital Securities pursuant to Section 2.2 or Qualifying APM Securities pursuant to Section 2.7, the occurrence or existence of any of the following events or sets of circumstances: 
 (i) Trading in securities generally (or in the Common Stock or Preferred Stock specifically) on the New York Stock Exchange or any other
national securities exchange or over-the-counter market on which Common Stock or Preferred Stock is then listed or traded shall have been suspended or the settlement of such trading generally shall have been materially disrupted or minimum prices
shall have been established on any such exchange or market by the relevant exchange or by any other regulatory body or governmental body having jurisdiction, and the establishment of such minimum prices materially disrupts or otherwise has a
material adverse effect on trading in, or the issuance and sale of, Qualifying APM Securities or Qualifying Capital Securities, as the case may be; 
 (ii) The Company would be required to obtain the consent or approval of a regulatory body (including, without limitation, any securities exchange) or governmental authority to issue or sell Qualifying Capital
Securities or Qualifying APM Securities, as the case may be, and such consent or approval has not yet been obtained notwithstanding the Company’s commercially reasonable efforts to obtain such consent or approval; 
 (iii) The number of shares of Common Stock necessary to raise sufficient proceeds to pay the deferred interest payments would exceed the
Shares Available for Issuance and consent of the Company’s shareholders to increase the amount of authorized shares has not been obtained despite the Company having used commercially reasonable efforts to obtain such consent; provided
that this Market Disruption Event will not relieve the Company of its obligation to issue the number of Shares Available for Issuance and to apply the proceeds thereof in partial payment of deferred interest; 
 (iv) A banking moratorium shall have been declared by the federal or state authorities of the United States and such moratorium materially
disrupts or otherwise has a material adverse effect on trading in, or the issuance and sale of, the Qualifying APM Securities or Qualifying Capital Securities, as the case may be; 
 (v) A material disruption shall have occurred in commercial banking or securities settlement or clearance services in the United States
and such disruption materially disrupts or otherwise has a material adverse effect on trading in, or the issuance and sale of, the Qualifying APM Securities or Qualifying Capital Securities, as the case may be; 
 (vi) The United States shall have become engaged in hostilities, there shall have been an escalation in hostilities involving the United
States, there shall have been a declaration of a national emergency or war by the United States or there shall have occurred any other national or international calamity or crisis and such event materially disrupts or otherwise has a material
adverse effect on trading in, or the issuance and sale of, the Qualifying APM Securities or Qualifying Capital Securities, as the case may be; 
 (vii) There shall have occurred such a material adverse change in general domestic or international economic, political or financial conditions, including without limitation as a result of terrorist activities, and
such change materially disrupts or otherwise has a material adverse effect on trading in, or the issuance and sale of, the Qualifying APM Securities or Qualifying Capital Securities, as the case may be; 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -4- 

 (viii) An event occurs and is continuing as a result of which the offering document for
such offer and sale of Qualifying APM Securities or Qualifying Capital Securities, as the case may be, would, in the reasonable judgment of the Company, contain an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading and either (a) the disclosure of that event at such time, in the reasonable judgment of the Company, is not otherwise required by law and would have a material adverse
effect on the business of the Company or (b) the disclosure relates to a previously undisclosed proposed or pending material business transaction, the disclosure of which would impede the ability of the Company to consummate such transaction,
provided that no single suspension period contemplated by this paragraph (viii) shall exceed 90 consecutive days and multiple suspension periods contemplated by this paragraph (viii) shall not exceed an aggregate of 90 days in any
180-day period; or 
 (ix) The Company reasonably believes that the offering document for such offer and sale of Qualifying
APM Securities or Qualifying Capital Securities, as the case may be, would not be in compliance with a rule or regulation of the Commission (for reasons other than those referred to in paragraph (viii) above) and the Company is unable to comply
with such rule or regulation or such compliance is unduly burdensome, provided that no single suspension period contemplated by this paragraph (ix) shall exceed 90 consecutive days and multiple suspension periods contemplated by this
paragraph (ix) shall not exceed an aggregate of 90 days in any 180-day period. 
 “Parity Securities” means debt securities or guarantees of the Company that rank upon liquidation on a parity with the LoTSSM, and includes the LoTSSM. 
 “Paying Agent” means, with respect to the LoTSSM, U.S. Bank National Association or any other Person authorized by the Company to pay the principal of or interest on the LoTSSM on behalf of the Company. 
 “Paying Agent Office” means the office of the applicable Paying Agent at which at
any particular time its corporate agency business will principally be administered in a Place of Payment, which office at the date hereof in the case of U.S. Bank National Association, in its capacity as Paying Agent with respect to the
LoTSSM under the Indenture, is located at 300 Delaware Avenue, 9th Floor, Wilmington, DE 19801, Attention: Corporate Trust Services Division. 
 “Permitted Remedies” has the meaning specified in the Replacement Capital Covenant. 
 “Preferred Stock” means the preferred stock of the Company. 
 “Preferred Stock Issuance Cap” has
the meaning specified in Section 2.7(a). 
 “Premium calculation agent” means Wachovia Capital Markets, LLC, or if that
firm is unwilling or unable to select the comparable treasury issue, an investment banking institution of national standing appointed by the Property Trustee after consultation with the Company. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -5- 

 “Qualifying APM Securities” means Common Stock, Qualifying Preferred Stock and
Qualifying Warrants. 
 “Qualifying Capital Securities” has the meaning specified in the Replacement Capital Covenant.

 “Qualifying Preferred Stock” has the meaning specified in the Replacement Capital Covenant. 
 “Qualifying Replacement Capital Covenant” has the meaning specified in the Replacement Capital Covenant. 
 “Qualifying Warrants” means net share settled warrants to purchase Common Stock that (a) have an exercise price greater than the
Current Stock Market Price and (b) the Company is not entitled to redeem for cash and the holders of which are not entitled to require it to repurchase for cash in any circumstances. 
 A “Rating Agency Event” means an amendment, clarification or change has occurred
in the equity credit criteria for securities such as the LoTSSM of any nationally recognized statistical rating
organization within the meaning of Rule 15c3-1 under the Exchange Act that then publishes a rating for the Company (in this definition, a “rating agency”), which amendment, clarification or change results in (i) the length of
time for which such current criteria are scheduled to be in effect being shortened with respect to the LoTSSM or
(ii) a lower equity credit being given to the Company than the then respective equity credit assigned by such rating agency on the date hereof. 
 “Repayment Date” means the Scheduled Maturity Date and each Interest Payment Date
thereafter until the Company shall have repaid or redeemed all of the LoTSSM. 
 “Replacement Capital Covenant” means the Replacement Capital Covenant, dated as of May 8, 2007, by the Company, as the same may be
amended or supplemented from time to time in accordance with the provisions thereof and Section 2.2(a)(vii). 
 “Responsible
Officer” means, with respect to U.S. Bank National Association in its capacity as Paying Agent, any officer within the Corporate Trust Department (or any successor department, unit or division of U.S. Bank National Association) assigned to
the Paying Agent Office of U.S. Bank National Association, in its capacity as Paying Agent, who has direct responsibility for the administration of the Paying Agent functions of the Indenture. 
 “Scheduled Maturity Date” has the meaning specified in Section 2.2(a). 
 “Securities Registrar” means, with respect to the LoTSSM, U.S. Bank National Association, or any other firm appointed by the Company, acting as securities registrar for the
LoTSSM. 
 “Securities Registrar Office” means the office of the applicable Securities
Registrar at which at any particular time its corporate agency business will principally be administered, which office at the date hereof in the case of U.S. Bank National Association, in its capacity as Securities Registrar under the Indenture, is
located at 300 Delaware Avenue, 9th Floor, Wilmington, DE 19801, Attention: Corporate Trust Services Division.

 “Shares Available for Issuance” will be determined, at any time, by (i) deducting from the number of authorized and
unissued shares of Common Stock the maximum number of shares of Common Stock that can be issued under existing reservations and commitments under which the Company is able to determine such maximum number and (ii) allocating remaining
authorized and unissued shares of Common Stock on 

  

 THIRD SUPPLEMENTAL INDENTURE 
 -6- 

 
a pro rata basis or such other basis as the Company determines is appropriate to the alternative payment mechanism described in Section 2.7 and
to any other similar commitment that is of an indeterminate nature and under which the Company is then required to issue shares. 
 A “Supervisory Event” will commence on the date the Company has notified the
Federal Reserve of its intention and affirmatively requested Federal Reserve approval both (1) to sell Qualifying APM Securities and (2) to apply the net proceeds of such sale to pay deferred interest on the LoTSSM, and the Company has been notified that the Federal Reserve disapproves of either of these actions. A Supervisory Event will
cease on the Business Day following the earlier to occur of (i) the 10th anniversary of the commencement of any
Deferral Period or (ii) the day on which the Federal Reserve notifies the Company in writing that it no longer disapproves of the Company’s intention to both (1) issue or sell Qualifying APM Securities and (2) apply the net
proceeds from such sale to pay deferred interest on the LoTSSM. 
 “Tax Event” means that the Company has requested and received an opinion of counsel experienced in such matters to the effect that, as a
result of any: 
 (i) amendment to or change (including any announced prospective change) in the laws or regulations of the
United States or any political subdivision or taxing authority of or in the United States that is enacted or issued or becomes effective after the initial issuance of the Trust Preferred Securities; 
 (ii) proposed change in those laws or regulations that is announced after the initial issuance of the Trust Preferred Securities;

 (iii) official administrative decision or judicial decision or administrative action or other official pronouncement
interpreting or applying those laws or regulations that is announced after the initial issuance of the Trust Preferred Securities; or 
 (iv) threatened challenge asserted in connection with an audit of the Trust, the
Company or its Subsidiaries, or a threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are substantially similar to the LoTSSM or the Trust Preferred Securities; 
 there is more than an
insubstantial increase in risk that: 
 (i) the Trust is or will be
subject to United States federal income tax with respect to income received or accrued on the LoTSSM; 
 (ii) interest payable by the Company on the LoTSSM is not, or will not be, deductible by the Company, in whole or in part, for United States federal income tax purposes; or 
 (iii) the Trust is or will be subject to more than a de minimis amount of other taxes, duties or other governmental charges.

 “Third Supplemental Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more agreements supplemental hereto entered into pursuant to the applicable provisions hereof. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -7- 

 “Trading Day” means a day on which Common Stock is traded on the New York Stock
Exchange, or if not then listed on the New York Stock Exchange, a day on which Common Stock is traded or quoted on the principal U.S. securities exchange on which it is listed or quoted, or if not then listed or quoted on a U.S. securities exchange,
a day on which Common Stock is quoted in the over-the-counter market. 
 “Treasury Rate” means the semi-annual equivalent
yield to maturity of the Treasury Security that corresponds to the Treasury Price (calculated in accordance with standard market practice and computed as of the second trading day preceding the Redemption Date). 
 “Treasury Security” means the United States Treasury security that the Treasury
Dealer determines would be appropriate to use, at the time of determination and in accordance with standard market practice, in pricing the LoTSsm being redeemed in a tender offer based on a spread to United States Treasury yields. 
 “Treasury Price” means the bid-side price for the Treasury Security as of the third trading day preceding the Redemption Date, as set forth in the daily statistical release (or any successor release) published by the
Federal Reserve Bank of New York on that trading day and designated “Composite 3:30 p.m. Quotations for U.S. Government Securities”, except that: (i) if that release (or any successor release) is not published or does not contain that
price information on that trading day; or (ii) if the Treasury Dealer determines that the price information is not reasonably reflective of the actual bid-side price of the Treasury Security prevailing at 3:30 p.m., New York City time, on that
trading day, then Treasury Price will instead mean the bid-side price for the Treasury Security at or around 3:30 p.m., New York City time, on that trading day (expressed on a next trading day settlement basis) as determined by the Treasury Dealer
through such alternative means as the Treasury Dealer considers to be appropriate under the circumstances. 
 “Treasury
Dealer” means U.S. Bank National Association (or its successor) or, if U.S. Bank National Association (or its successor) refuses to act as treasury dealer for this purpose or ceases to be a primary U.S. Government securities dealer, another
nationally recognized investment banking firm that is a primary U.S. Government securities dealer specified by us for these purposes. 
 “Trust” has the meaning specified in the Recitals. 
 “Trust Agreement” means the Amended and
Restated Trust Agreement, dated as of May 8, 2007, among the Company, as Sponsor of the Trust, U.S. Bank National Association, as the Property Trustee, U.S. Bank Trust National Association, as the Delaware Trustee, and the Administrative
Trustees. 
 “Trust Common Securities” has the meaning specified in the Recitals. 
 “Trustee” has the meaning specified in the Recitals. 
 “Trust Preferred Securities” has the meaning specified in the Recitals. 
 “Trust
Securities” has the meaning specified in the Recitals. 
 “Underwriting Agreement” means the Underwriting
Agreement, dated as of May 1, 2007, among the Trust, the Company and the underwriters named therein. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -8- 

 ARTICLE II 
 GENERAL TERMS AND CONDITIONS
OF THE LOTSSM 
 Section 2.1. Designation, Principal Amount and Authorized Denomination 
 There is hereby authorized a series of Securities designated the Extendible Long Term Subordinated
Notes (the “LoTSSM”), the amount of which to
be issued will be as set forth in any Company Order for the authentication and delivery of LoTSSM pursuant to the
Indenture. The denominations in which LoTSSM will be issuable are $25 principal amount and integral multiples
thereof. The maximum aggregate principal amount of LoTSSM that may be authenticated and delivered under the
Indenture and this Third Supplemental Indenture is $1,600,010,000 (except for LoTSSM authenticated and delivered
upon registration of transfer of, or exchange for, or in lieu of, other LoTSSM pursuant to Section 3.4, 3.5,
3.6, 9.6 or 11.6 of the Indenture or Section 3.5 of this Third Supplemental Indenture). 
 Section 2.2. Repayment

 (a) Scheduled Maturity Date. 
 (i) The principal amount of, and all accrued and unpaid interest on, the
LoTSSM will be payable in full on June 15, 2047 or, if such day is not a Business Day, the following Business
Day (the “Scheduled Maturity Date”); provided, however, that in the event the Company has delivered an Officers’ Certificate to the Trustee pursuant to clause (v) of this Section 2.2(a) in connection with the
Scheduled Maturity Date, (x) the principal amount of LoTSSM payable on the Scheduled Maturity Date, if any,
will be the principal amount set forth in the notice of repayment, if any, accompanying such Officers’ Certificate, (y) such principal amount of LoTSSM will be repaid on the Scheduled Maturity Date pursuant to Article III, and (z) subject to clause (ii) of this Section 2.2(a), the remaining LoTSSM will remain outstanding and will be payable on the immediately succeeding Interest Payment Date or such earlier date on which they are redeemed
pursuant to Section 2.8 or become due and payable pursuant to Section 5.2 of the Indenture. The entire principal amount of the LoTSSM outstanding will be due and payable on the Scheduled Maturity Date in the event the Company does not deliver an Officers’ Certificate to the Trustee on or before the 10th Business Day immediately preceding the Scheduled Maturity Date. 
 (ii) In the event the Company has delivered an Officers’ Certificate to the
Trustee pursuant to clause (v) of this Section 2.2(a) in connection with any Interest Payment Date after the Scheduled Maturity Date, the principal amount of LoTSSM repayable on such Interest Payment Date will be the principal amount set forth in the notice of repayment, if any, accompanying such Officers’
Certificate, and will be repaid on such Interest Payment Date pursuant to Article III, and the remaining LoTSSM will
remain outstanding and will be payable on the immediately succeeding Interest Payment Date or such earlier date on which they are redeemed pursuant to Section 2.8 or will become due and payable pursuant to Section 5.2 of the Indenture. The
entire principal amount of the LoTSSM outstanding will be due and payable on any Interest Payment Date after the
Scheduled Maturity Date in the event the Company does not deliver an Officers’ Certificate to the Trustee on or before the 10th Business Day immediately preceding such Interest Payment Date. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -9- 

 (iii) The obligation of the
Company to repay the LoTSSM pursuant to this Section 2.2(a) on any date before the Final Repayment Date will be
subject to (x) its obligations under Article XIII of the Indenture to the holders of Senior Debt and (y) its obligations under Section 2.5 with respect to the payment of deferred interest on the LoTSSM. 
 (iv) Until the LoTSSM are paid in full, the Company shall use Commercially
Reasonable Efforts, subject to a Market Disruption Event: 
 (A) to
raise sufficient net proceeds from the issuance of Qualifying Capital Securities during a 180-day period ending on the date, not more than 15 and not less than 10 Business Days before the Scheduled Maturity Date, on which the Company delivers the
notice required by clause (v) of this Section 2.2(a) and Section 3.1, to permit repayment of the LoTSSM in full on the Scheduled Maturity Date pursuant to clause (i) of this Section 2.2(a); and 
 (B) if the Company is unable for any reason to raise sufficient proceeds from the
issuance of Qualifying Capital Securities to permit repayment in full of the LoTSSM on the Scheduled Maturity Date
(as required by clause (A) above) or any subsequent Interest Payment Date, to raise sufficient net proceeds from the issuance of Qualifying Capital Securities during a 90-day period ending on the date, not more than 15 and not less than 10
Business Days before the following Interest Payment Date, on which the Company delivers the notice required by clause (v) of this Section 2.2(a) and Section 3.1, to permit repayment of the LoTSSM in full on such following Interest Payment Date pursuant to clause (i)(z) of this Section 2.2(a). 
 (v) The Company shall, if it has not raised sufficient net proceeds from the
issuance of Qualifying Capital Securities pursuant to clause (iv) of this Section 2.2(a) in connection with any Repayment Date, deliver an Officers’ Certificate to the Trustee (which the Trustee will promptly forward upon receipt to
the Property Trustee) no more than 15 and no less than 10 Business Days in advance of such Repayment Date stating the amount of net proceeds, if any, raised pursuant to clause (iv) above in connection with such Repayment Date and the
corresponding principal amount of the LoTSSM represented thereby. The Company will be excused from its obligation to
use Commercially Reasonable Efforts to sell Qualifying Capital Securities pursuant to clause (iv) above if such Officers’ Certificate further certifies that: (A) a Market Disruption Event was existing during the 180-day period
preceding the date of such Officers’ Certificate or, in the case of any Repayment Date after the Scheduled Maturity Date, the 90-day period preceding the date of such Officers’ Certificate; and (B) either (1) the Market
Disruption Event continued for the entire 180-day period or 90-day period, as the case may be, or (2) the Market Disruption Event continued for only part of the period, but the Company was unable after Commercially Reasonable Efforts to raise
sufficient net proceeds during the rest of that period to permit repayment of the LoTSSM in full pursuant to clause
(iv) of this Section 2.2(a). Each Officers’ Certificate delivered pursuant to this clause (v), unless no principal amount of LoTSSM is to be repaid on the applicable Repayment Date, will be accompanied by a notice of repayment pursuant to Section 3.1 setting forth the principal amount of the LoTSSM to be repaid on such Repayment Date, if any, which amount will be determined after giving effect to clause (vi) of this
Section 2.2(a). 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -10- 

 (vi) Payments in respect of the
LoTSSM on any Repayment Date will be applied, first, to deferred interest to the extent of Eligible Proceeds raised
pursuant to Section 2.7, second, to pay current interest to the extent not paid from other sources and, third, to repay the principal of the LoTSSM; provided that if the Company is obligated to sell Qualifying Capital Securities and make payments of principal on any outstanding securities in addition to the LoTSSM in respect thereof, then on any date and for any period such payments will be made first on any Parity Securities having an
earlier scheduled maturity date than the LoTSSM and then on the LoTSSM and those other securities having the same scheduled maturity date as the LoTSSM pro rata in accordance with their respective outstanding principal amounts and no such payments will be made on any other securities having a later
scheduled maturity date until the principal of the LoTSSM has been paid in full, except to the extent permitted
under Section 2.6 and Section 2.7(c). If the Company raises less than $5 million of net proceeds from the sale of Qualifying Capital Securities during the relevant 180-day or 90-day period, the Company will not be required to repay any
LoTSSM on the applicable Repayment Date. On the next Interest Payment Date as of which the Company has raised at
least $5 million of net proceeds from the sale of Qualifying Capital Securities during the 180-day period preceding the applicable notice date (or, if shorter, the period since it last delivered to the trustee a notice of repayment of any principal
amount of LoTSSM), it will be required to repay a principal amount of the LoTSSM equal to the entire net proceeds from the sale of Qualifying Capital Securities during such 180-day or shorter period together with accrued and
unpaid interest thereon, subject in the case of deferred interest to Section 2.5(b). 
 (vii) The Company will not amend the Replacement Capital Covenant to impose additional restrictions on the type or amount of Qualifying Capital Securities that the Company may include for purposes of determining when
repayment, redemption or purchase of the LoTSSM or the Trust Preferred Securities is permitted, except with the
consent of holders of a majority by liquidation amount of the Trust Preferred Securities or, if the LoTSSM have been
distributed by the Trust to the holders of the Trust Preferred Securities, a majority by principal amount of the LoTSSM. Except as aforesaid, the Company may amend or supplement the Replacement Capital Covenant in accordance with its terms and without the consent of the holders of the Trust Preferred Securities or the LoTSSM. 
 (b) Final Repayment Date. The principal of, and all accrued and unpaid
interest on, all outstanding LoTSSM will be due and payable on the Final Repayment Date, regardless of the amount of
Qualifying Capital Securities or Qualifying APM Securities the Company may have issued and sold by that time. Initially, the Final Repayment Date will be June 1, 2067. The Company may elect to extend the initial Final Repayment Date up to two
times in ten-year increments on either or both of June 15, 2017 and June 15, 2027 (each such date, an “Extension Date”), and as a result the Final Repayment Date may be extended to June 1, 2077 (if the election is
made on only one Extension Date) or June 1, 2087 (if the election is made on both Extension Dates), if all the following criteria are satisfied: 
 (i) On the applicable Extension Date the LoTSSM are rated at least Baa3 by Moody’s Investor Services or BBB- by either of Standard & Poor’s Ratings Services, a division of McGraw
Hill, Inc., or Fitch Ratings or, if any of Moody’s Investor Services, Standard & Poor’s Ratings Services and Fitch Ratings (or their respective successors) is no longer in existence, the equivalent rating by any other nationally
recognized statistical rating organization within the meaning of 15c3-1 under the Exchange Act of 1934, as amended. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -11- 

 (ii) During the three years prior to the applicable Extension Date: 
 (A) no event of default has occurred or is occurring in respect of any payment obligation on, or financial covenant in, any of the
Company’s then outstanding debt for money borrowed having an aggregate principal amount of $100 million or greater; and 
 (B) the Company did not have (and does not currently have) any outstanding deferred payments under any of its then outstanding Preferred Stock or debt for money borrowed. 
 From and after the applicable Extension Date the Final Repayment Date will be the Final Repayment Date as so extended, provided that if any date that would be the Final Repayment Date as determined pursuant to
this Section 2.2(b) is not a Business Day, the Final Repayment Date will be the next following Business Day. 
 Section 2.3.
Form 
 The LoTSSM will be issued in fully registered definitive form without interest coupons. Principal of and interest on the LoTSSM issued in definitive form will be payable, the transfer of such LoTSSM will be registrable and such LoTSSM will be exchangeable for
LoTSSM bearing identical terms and provisions and notices and demands to or upon the Company in respect of the
LoTSSM and the Indenture may be served at the Corporate Trust Office of the Trustee, and the Company appoints the
Trustee as its agent for the foregoing purposes, provided that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as will appear in the Securities Register or by wire transfer in
immediately available funds to the bank account number of the Holder specified in writing by the Holder not less than 10 days before the relevant Interest Payment Date and entered in the Securities Register by the Securities Registrar, provided,
further, that if the Property Trustee, on behalf of the Trust, is the sole Holder of the LoTSSM then payment of
interest will be made by wire transfer in immediately available funds to a bank account number specified by the Property Trustee. The LoTSSM may be presented for registration of transfer or exchange at the Securities Registrar Office. 
 Section 2.4.
Rate of Interest; Interest Payment Date 
 (a) Rate of
Interest. The LoTSSM will bear interest at the rate of 6.375% per annum, from May 8, 2007 or
from the most recent Interest Payment Date to which interest has been paid or duly provided for, as the case may be, until the principal thereof is paid or made available for payment. Interest will be computed on the basis of a 360-day year
comprised of twelve 30-day months. Accrued interest that is not paid on the applicable Interest Payment Date, including interest deferred pursuant to Section 2.5, will bear Additional Interest, to the extent permitted by law, at the rate of
6.375% per annum from the relevant Interest Payment Date, compounded on each subsequent Interest Payment Date. 
 (b) Interest Payment Date. Subject to the other provisions hereof, interest
on the LoTSSM will be payable quarterly in arrears on March 15, June 15, September 15 and
December 15 of each year, commencing on September 15, 2007 (each such date, an “Interest Payment Date”). 
  

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 Section 2.5. Interest Deferral 
 (a) Option to Defer Interest Payments. The following provisions shall apply to the
LoTSSM in lieu of Section 3.11 and the first paragraph of Section 10.7 of the Indenture: 
 (i) The Company will have the right at any time and from time to time, to defer the
payment of interest on the LoTSSM for up to 40 consecutive Interest Periods; provided that no Deferral Period
will extend beyond the Final Repayment Date or the earlier repayment or redemption in full of the LoTSSM. Upon
termination of any Deferral Period and upon the payment of all deferred interest then due on any Interest Payment Date, the Company may elect to begin a new Deferral Period pursuant to this Section 2.5. 
 (ii) At the end of any Deferral Period, the Company will pay all deferred interest
on the LoTSSM to the Persons in whose names the LoTSSM are registered in the Securities Register at the close of business on the Regular Record Date with respect to the Interest Payment Date at the end of such
Deferral Period. 
 (iii) The Company may elect to pay interest on any Interest Payment Date during any Deferral Period to the
extent permitted by Section 2.5(b). 
 (b) Payment of Deferred Interest.
The Company will not pay deferred interest on the LoTSSM before the Final Repayment Date or at any time an Event of
Default has occurred and is continuing from any source other than Eligible Proceeds. Notwithstanding the foregoing, (i) the Company may pay current interest during a Deferral Period or at any other time from any available funds and (ii) if
a Supervisory Event has occurred and is continuing, then the Company may (but is not obligated to) pay deferred interest with cash from any source. In addition, if the Company sells Qualifying APM Securities pursuant to Section 2.7 but a
Supervisory Event arises from the Federal Reserve disapproving the use of the proceeds to pay deferred interest, the Company may use the proceeds for other purposes and continue to defer interest on the LoTSSM. 
 (c) Business Combination
Exception. If the Company is involved in a Business Combination where immediately after its consummation more than 50% of the voting stock of the Person formed by such Business Combination, or the Person that is the surviving entity of such
Business Combination, or the Person to whom such properties and assets are conveyed, transferred or leased in such Business Combination, is owned by the shareholders of the other party to such Business Combination, then Section 2.5(b) and
Section 2.7 will not apply to any Deferral Period that is terminated on the next Interest Payment Date following the date of consummation of such Business Combination (or if later, at any time within 90 days following the date of consummation
of the Business Combination). The settlement of deferred interest, whether it occurs on an Interest Payment Date or another date will immediately terminate the Deferral Period. The Company will establish a Special Record Date for the payment of any
deferred interest pursuant to this Section 2.5(c) on a date other than an Interest Payment Date. 
 (d) Notice of Deferral. The Company will give written notice of its election to begin or extend any Deferral Period, (x) if the Property Trustee, on behalf of the Trust, is the sole Holder of the
LoTSSM, to the Property Trustee at least five Business Days before the earlier of (A) the next succeeding date
on which the distributions on the Trust Preferred Securities are payable and (B) the date the Property Trustee is required to give notice to holders of the Trust Preferred Securities of the record or payment date for the related distribution,
or (y) if the Property Trustee, on behalf of the Trust, is not the sole Holder of the LoTSSM, to Holders of the
LoTSSM and the Trustee at least 

  

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five Business Days before the next Interest Payment Date. Notice of the Company’s election of a Deferral Period will be given by the Property Trustee by
first-class mail, postage prepaid, mailed not less than three Business Days after the Property Trustee receives written notice from the Company to each holder of Trust Securities at such holder’s address appearing in the Security Register.

 Section 2.6. Dividend and Other Payment Stoppages during Deferral Period 
 (a) Dividend and Other Payment Stoppages. So long as any LoTSSM remain outstanding, if the Company has given notice of its election to defer interest payments on the LoTSSM but the related Deferral Period has not yet commenced or a Deferral Period is continuing, the Company will not, and will not
permit any Subsidiary to: 
 (i) declare or pay any dividends or distributions, or redeem, purchase, acquire or make a
liquidation payment with respect to, any shares of capital stock of the Company; 
 (ii) make any payment of principal of or interest or premium, if any, on or repay, purchase or redeem any Parity Securities or any debt securities of the Company that rank junior in interest upon liquidation to the
LoTSSM; or 
 (iii) make any payments under any guarantee by the Company that ranks junior upon the Company’s liquidation to the Guarantee Agreement; 
 provided, however, the restrictions in clauses (i), (ii) and (iii) above do not apply to:
(1) any purchase, redemption or other acquisition of shares of its capital stock by the Company in connection with (A) any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more of its
employees, officers, directors, consultants or independent contractors, (B) the satisfaction of the Company’s obligations pursuant to any contract entered into in the ordinary course before the beginning of the applicable Deferral Period,
(C) a dividend reinvestment or shareholder purchase plan, or (D) the issuance of the Company’s capital stock, or securities convertible into or exercisable for such capital stock, as consideration in an acquisition transaction entered
into before the applicable Deferral Period, (2) any exchange, redemption or conversion of any class or series of the Company’s capital stock, or the capital stock of one of its Subsidiaries, for any other class or series of its capital
stock, or of any class or series of its indebtedness for any class or series of its capital stock, (3) any purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such
capital stock or the securities being converted or exchanged, (4) any declaration of a dividend in connection with any shareholder rights plan, or the issuance of rights, stock or other property under any shareholder rights plan, or the
redemption or purchase of rights pursuant thereto, (5) payments by the Company under any guarantee agreement executed for the benefit of the holders of the Trust Preferred Securities, (6) any dividend in the form of stock, warrants,
options or other rights where the dividend stock or stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock, (7) any
payment of current or deferred interest on Parity Securities that is made pro rata to the amounts due on such Parity Securities (including the LoTSSM), provided that such payments are made in accordance with Section 2.7(c) to the extent it applies, and any payments of deferred interest on Parity Securities outstanding on the date hereof
that, if not made, would cause the Company to breach the terms of the instrument governing such Parity Securities, or (8) any payment of principal in respect of Parity Securities having an earlier scheduled maturity date than the
LoTSSM or the same scheduled maturity date as the LoTSSM, as required under a provision of such other Parity Securities that is substantially the same as the provision described under Section 2.2, and, in the
case of Parity Securities having the same scheduled maturity date as the LoTSSM, that is made on a pro rata
basis among such Parity Securities (including the LoTSSM). The distribution restrictions and exceptions in this
Section 2.6 will be in lieu of the distribution restrictions and exceptions in Section 3.11 of the Indenture. 
  

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 (b) Additional Limitation on
Deferral Over One Year. If any Deferral Period lasts longer than one year, neither the Company nor any of its Subsidiaries will repurchase or acquire any securities ranking pari passu with or junior to any Qualifying APM Securities the proceeds
of which were used to settle deferred interest during the relevant Deferral Period before the first anniversary of the date on which all deferred interest on the LoTSSM has been paid, subject to the exceptions listed in the proviso of Section 2.6(a). However, if the Company is involved in a Business Combination where
immediately after its consummation more than 50% of the voting stock of the Person formed by such Business Combination, or the Person that is the surviving entity of such Business Combination, or the Person to whom such properties and assets are
conveyed, transferred or leased in such Business Combination, is owned by the shareholders of the other party to such Business Combination, then the limitation set forth in this Section 2.6(b) will not apply to any Deferral Period that is
terminated on the next Interest Payment Date following the date of consummation of such Business Combination. 
 Section 2.7.
Alternative Payment Mechanism 
 (a) Obligation to Issue
Qualifying APM Securities. During the APM Period, the Company shall, subject to the occurrence and continuation of a Supervisory Event or a Market Disruption Event as described under Section 2.7(b) and subject to Section 2.5(c), issue
one or more types of Qualifying APM Securities until the Company has raised an amount of Eligible Proceeds at least equal to the aggregate amount of accrued and unpaid deferred interest on the LoTSSM and applied such Eligible Proceeds on the next Interest Payment Date to the payment of deferred interest in accordance with Section 2.6, provided
that: 
 (i) the foregoing obligations will not apply to the extent
that, with respect to deferred interest attributable to the first five years of any Deferral Period, the net proceeds of any issuance of Common Stock (or Qualifying Warrants if the definition of Qualifying APM Securities has been modified to exclude
Common Stock) applied during such Deferral Period to pay interest on the LoTSSM pursuant to this Section 2.7,
together with the net proceeds of all prior issuances of Common Stock and Qualifying Warrants so applied, would exceed an amount equal to 2% of the product of the average of the Current Stock Market Prices of the Common Stock on the 10 consecutive
Trading Days ending on the second Trading Day immediately preceding the date of issuance multiplied by the total number of issued and outstanding shares of Common Stock as of the date of the Company’s then most recent publicly available
consolidated financial statements (the “Common Equity Issuance Cap”); provided that the Common Equity Issuance Cap will cease to apply after the ninth anniversary of the commencement of any Deferral Period, at which point the
Company must pay any deferred interest regardless of the time at which it was deferred, pursuant to this Section 2.7, subject to any Supervisory Event or Market Disruption Event; and provided, further, that if the Common Equity
Issuance Cap is reached during a Deferral Period and the Company subsequently repays all deferred interest, the Common Equity Issuance Cap will cease to apply at the termination of such Deferral Period and will not apply again unless and until the
Company starts a new Deferral Period; and 
 (ii) the foregoing
obligations will not apply to the extent that the net proceeds of any issuance of Qualifying Preferred Stock applied to pay interest on the LoTSSM 

  

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pursuant to this Section 2.7, together with the net proceeds of all prior issuances of Preferred Stock so applied during the current and all prior
Deferral Periods, would exceed 25% of the aggregate principal amount of the LoTSSM issued under the Indenture (the
“Preferred Stock Issuance Cap”). 
 For the avoidance of doubt,
(x) once the Company reaches the Common Equity Issuance Cap for a Deferral Period, the Company will not be required to issue more Common Stock (or Qualifying Warrants if the definition of Qualifying APM Securities has been modified to exclude
Common Stock) with respect to deferred interest attributable to the first five years of such Deferral Period pursuant to this Section 2.7, even if the amount referred to in clause (i) of this Section 2.7 subsequently increases because
of a subsequent increase in the Current Stock Market Price of Common Stock or the number of outstanding shares of Common Stock, and (y) so long as the definition of Qualifying APM Securities has not been amended to eliminate Common Stock, the
sale of Qualifying Warrants to pay deferred interest is an option that may be exercised at the Company’s sole discretion and the Company is not obligated to sell Qualifying Warrants or to apply the proceeds of any such sale to pay deferred
interest on the LoTSSM, and no class of investors of the Company’s securities, or any other party, may require
the Company to issue Qualifying Warrants. The Company will be required to use commercially reasonable efforts, subject to the Common Equity Issuance Cap, to set the terms of the Qualifying Warrants so as to raise sufficient proceeds from their
issuance to pay all deferred interest on the LoTSSM in accordance with Section 2.7. 
 (b) Market Disruption Event and Supervisory Event. Section 2.7(a) will
not apply with respect to any Interest Payment Date if the Company shall have provided to the Trustee (and to the Property Trustee to the extent the Trust is the sole Holder of the LoTSSM) no more than 15 and no less than 10 Business Days before such Interest Payment Date an Officers’ Certificate stating that (i) a Market Disruption
Event was existing after the immediately preceding Interest Payment Date and (ii) either (x) the Market Disruption Event continued for the entire period from the Business Day immediately following the preceding Interest Payment Date to the
Business Day immediately preceding the date on which such Officers’ Certificate is provided or (y) the Market Disruption Event continued for only part of such period but the Company was unable to raise sufficient Eligible Proceeds during
the rest of that period to pay all accrued and unpaid interest due on the Interest Payment Date with respect to which such Officers’ Certificate is being delivered. Section 2.7(a) will not apply with respect to any Interest Payment Date if
the Company shall have provided to the Trustee (and to the Property Trustee to the extent the Trust is the sole Holder of the LoTSSM) on or before such Interest Payment Date an Officers’ Certificate stating that (i) a Supervisory Event was existing after the immediately preceding Interest Payment Date and (ii) either (x) the Supervisory Event
prevented the sale of Qualifying APM Securities for the entire period from the Business Day immediately following the preceding Interest Payment Date to the Business Day immediately preceding the date on which such Officers’ Certificate is
provided or (y) the Supervisory Event prevented the sale of Qualifying APM Securities for only part of such period but the Company was unable to raise sufficient Eligible Proceeds during the rest of that period to pay all accrued and unpaid
interest due on the Interest Payment Date with respect to which such Officers’ Certificate is being delivered or (z) the Supervisory Event prevents the Company from applying the net proceeds of sales of Qualifying APM Securities to pay
deferred interest on such Interest Payment Date. 
 (c) Partial Payment of Deferral Interest. 
 (i) If the Company has raised some but not all Eligible Proceeds necessary to pay all deferred interest on any Interest Payment Date
pursuant to this Section 2.7, such 

  

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Eligible Proceeds will be allocated to pay accrued and unpaid interest on the applicable Interest Payment Date in chronological order based on the date each
payment was first deferred, subject to the Common Equity Issuance Cap and the Preferred Stock Issuance Cap, and payment on each installment of deferred interest will be distributed to Holders on a pro rata basis. 
 (ii) If the Company has outstanding Parity Securities under which it is obligated
to sell securities that are Qualifying APM Securities and apply the net proceeds to the payment of deferred interest or distributions, then on any date and for any period the amount of net proceeds received by the Company from those sales and
available for payment of the deferred interest and distributions will be applied to the LoTSSM and those other
Parity Securities on a pro rata basis up to the Common Equity Issuance Cap or the Preferred Stock Issuance Cap (or comparable provisions in the instruments governing those other Parity Securities) in proportion to the total amounts of accrued
and unpaid interest that are due on the LoTSSM and such other Parity Securities at such time, or on such other basis
as the Federal Reserve may approve. 
 (d) Qualifying APM Securities Definition Change. The Company shall send written
notice to the Trustee (which notice the Trustee will promptly forward upon receipt to the Administrative Trustees, who shall forward such notice to each holder of record of Trust Preferred Securities) in advance of any change in the definition of
Qualifying APM Securities to eliminate Common Stock or Qualifying Warrants. 
 Section 2.8. Redemption of the LoTSSM

 (a) Redemption. Section 11.7 of the Indenture
shall not apply to the LoTSSM. The LoTSSM shall be redeemable, in whole or in part, at the Company’s option at any time on or after June 15, 2012, including on or after the Scheduled
Maturity Date, or in whole but not in part after the occurrence of a Tax Event, Capital Treatment Event, Investment Company Event or Rating Agency Event. The redemption price of the LoTSSM will be equal to (i) 100% of the principal amount of the LoTSSM being redeemed plus accrued and unpaid interest to the Redemption Date or (ii) in the case of a redemption after the occurrence of a Rating Agency Event, the Make-Whole Redemption Price. The
Company will notify the Trust of the Make-Whole Redemption Price (if applicable) promptly after the calculation thereof and the Trust will have no responsibility for calculating the Make-Whole Redemption Price. The Company may not redeem the
LoTSSM in part if the principal amount of the LoTSSM has been accelerated and such acceleration has not been rescinded unless all accrued and unpaid interest including deferred interest has been paid in full on
all outstanding LoTSSM for all Interest Periods terminating on or before the Redemption Date. 
 (b) Sinking Fund. The LoTSSM are not entitled to any sinking fund payments or similar provisions. 
 Section 2.9. Events of Default 
 (a) The default in the payment of interest, including Additional Interest, in full on the LoTSSM for a
period of 30 days after the conclusion of a 10-year Deferral Period following the commencement of any Deferral Period shall be an Event of Default with respect to the LoTSSM. 
  

 THIRD SUPPLEMENTAL INDENTURE 
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 (b) Sections 5.1(1) through 5.1(3)
of the Indenture will not apply to the LoTSSM, and the occurrence of an event described therein will not be an Event
of Default with respect to the LoTSSM. 
 (c) So long as any LoTSSM are held by or on behalf of the Trust, the Trustee will provide to the holders of the Trust Preferred Securities such notices as it will from time to time
provide under Section 6.2 of the Indenture. In addition, the Trustee will provide to the holders of the Trust Preferred Securities notice of any Event of Default or event that, with the giving of notice or lapse of time, or both, would become
an Event of Default with respect to the LoTSSM within 30 days after the actual knowledge of a Responsible Officer of
the Trustee of such Event of Default or other event. 
 (d) For the
avoidance of doubt, and without prejudice to any other remedies that may be available to the Trustee, the Holders of the LoTSSM or the holders of the Trust Preferred Securities under the Indenture, no breach by the Company of any covenant or obligation under the Indenture or the terms of the LoTSSM will be an Event of Default with respect to the LoTSSM other than those specified as Events of Default in Sections 5.1(4) through (7) of the Indenture and Section 2.9(a). 
 Section 2.10. Securities Registrar; Paying Agent; Delegation of Trustee Duties 
 (a) The Company appoints U.S. Bank National Association as Securities Registrar and
Paying Agent with respect to the LoTSSM. 
 (b) Notwithstanding any provision contained herein, to the extent permitted by applicable law, the Trustee may delegate its duty to
provide such notices and to perform such other duties as may be required to be provided or performed by the Trustee under the Indenture, and, to the extent such obligation has been so delegated, the Trustee will not be responsible for monitoring the
compliance of, nor be liable for the default or misconduct of, any such designee. 
 Section 2.11. Obligation to Seek Shareholder
Approval to Increase Authorized Shares 
 (a) Obligation to Seek
Shareholder Approval. The Company will use commercially reasonable efforts to seek shareholder approval to amend its articles of incorporation to increase the number of its authorized shares if, at any date, the Shares Available for Issuance
fall below the greater of (i) [•] million shares, or if Wachovia has amended the definition of “qualifying APM securities” to eliminate common stock, [•] million shares (as adjusted for any stock split, reverse
stock split, stock dividend, reclassification, recapitalization, split-up, combination, exchange of shares or similar transaction) and (ii) three times the number of shares that the Company would need to issue to raise sufficient proceeds to
pay (assuming a price per share equal to the average trading price of the shares over the 10 Trading Day period preceding such date) (x) any then outstanding deferred interest on the LoTSSM plus (y) twelve additional months of deferred interest on the LoTSSM. If the Trust issues additional Trust Preferred Securities after the Time of Delivery (as defined in the Trust Agreement) pursuant to Section 5.3 of the
Trust Agreement, the number of shares referred to under clause (i) above will be increased proportionately to the number of such additional Trust Preferred Securities. 
 (b) Amendment to Shares Available for Issuance Provisions. (i) The
Company may modify the definition of Shares Available for Issuance and the related provisions hereof without the consent of holders of the Trust Preferred Securities or LoTSSM; provided that (i) the Company has 

  

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determined, in its reasonable discretion, that such modification is not materially adverse to such holders, (ii) the rating agencies then rating the
Trust Preferred Securities confirm the then current ratings of the Trust Preferred Securities, and (iii) the number of Shares Available for Issuance after giving effect to such modification will not fall below the then applicable threshold set
forth in Section 2.11(a) above. 
 Section 2.12. Limitation on Claims for Deferred Interest in the Event of Bankruptcy,
Insolvency or Receivership 
 Each Holder, by such Holder’s acceptance of the
LoTSSM, agrees that if a Bankruptcy Event of the Company will occur before the redemption or repayment of such
LoTSSM, such Holder will have no claim for, and thus no right to receive, any deferred interest pursuant to
Section 2.5 that has not been paid pursuant to Sections 2.5 and 2.7 to the extent the amount of such interest exceeds the sum of (x) two years of accumulated and unpaid interest on such Holder’s LoTSSM and (y) an amount equal to such Holder’s pro rata share of the excess, if any, of the Preferred Stock Issuance Cap over the
aggregate amount of net proceeds from the sale of Qualifying Preferred Stock that the Company has applied to pay such deferred interest pursuant to the Alternative Payment Mechanism. Each Holder of LoTSSM is deemed to agree, however, that, to the extent the claim for such deferred interest exceeds the amount set forth in clause (x), the amount it receives in
respect of such excess shall not exceed the amount it would have received had the claim for such excess ranked pari passu with the interests of the Holders, if any, of Qualifying Preferred Stock. 
 Section 2.13. Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Trust Preferred
Securities. 
 Section 5.8 of the Indenture will not apply to the
LoTSSM. 
 Notwithstanding any other provision in the Indenture, each Holder of the LoTSSM shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and
(subject to Section 3.7 of the Indenture) interest (including any Additional Interest) on the LoTSSM on the
Final Repayment Date (or, in the case of redemption or repayment, on the Redemption Date or the Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the
consent of such Holder. So long as any LoTSSM are held by or on behalf of the Trust, any holder of the Trust
Preferred Securities issued by the Trust shall have the right, upon (i) the breach by the Company of its obligations under Section 2.2(a)(iv) to issue Qualifying Capital Securities or Section 2.7(a) to issue Qualifying APM Securities
or (ii) the occurrence of an Event of Default described in Section 2.9(a), to institute a suit directly against the Company (a) in the case of (i) above, to enforce such obligations or for such other remedies as may be available
and (b) in the case of (ii) above, for enforcement of payment to such Holder of principal of (premium, if any) and (subject to Section 3.7 of the Indenture) interest (including any Additional Interest) on the LoTSSM having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Trust
Preferred Securities. 
  

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 ARTICLE III 
 REPAYMENT OF LOTSSM 
 Section 3.1. Repayments

 The Company will, not less than 15 nor more than 10 Business Days before each
Repayment Date (unless a shorter notice will be satisfactory to the Trustee), notify the Trustee of the principal amount of LoTSSM to be repaid on such date pursuant to Section 2.2(a). 
 Section 3.2. Selection of the LoTSSM to be Repaid 
 If less than all the LoTSSM are to be repaid on any Repayment Date (unless the LoTSSM are issued in the form of a Global Security or held by the Property Trustee), the particular LoTSSM to be repaid will be selected not more than 60 days before such Repayment Date by the Trustee, from the Outstanding LoTSSM not previously repaid or called for redemption, by lot or such other method as the Trustee shall deem fair and appropriate and which may provide for the
selection for redemption of a portion of the principal amount of any LoTSSM; provided that the portion of the
principal amount of any LoTSSM not repaid will be in an authorized denomination (which will not be less than the
minimum authorized denomination). 
 The Trustee shall promptly notify the Company in
writing of the LoTSSM selected for partial repayment and the principal amount thereof to be repaid. For all purposes
hereof, unless the context otherwise requires, all provisions relating to the repayment of LoTSSM will relate, in
the case of any LoTSSM repaid or to be repaid only in part, to the portion of the principal amount of such
LoTSSM that has been or is to be repaid. LoTSSM registered in the name of the Company, any Affiliate or any Subsidiary thereof will not be included in the LoTSSM selected for repayment except to the extent no other LoTSSM remain or would remain outstanding. 
 Section 3.3. Notice of Repayment

 Notice of repayment will be given by first-class mail, postage prepaid, mailed not
earlier than the 15th, and not later than the 10th, Business Day before the Repayment Date, to each Holder of LoTSSM to be repaid, at the address of such Holder as it appears in the Security Register. 
 Each notice of repayment will identify the LoTSSM to be repaid (including CUSIP number, if a CUSIP number has been assigned to the LoTSSM) and will state: 
 (a) the
Repayment Date; 
 (b) if less than all Outstanding LoTSSM are to be repaid, the identification (and, in the case of partial repayment, the respective principal amounts) of the
particular LoTSSM to be repaid; 
 (c) that on the Repayment Date, the principal amount of the LoTSSM to be repaid will become due and payable upon each such LoTSSM or portion thereof, and that interest thereon, if any, will cease to accrue on and after said date; and 
 (d) the place or places where such LoTSSM are to be surrendered for payment of the principal amount thereof. 
  

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 Notice of repayment will be given by the Company
or, at the Company’s request, by the Trustee in the name and at the expense of the Company and will be irrevocable. The notice if mailed in the manner herein provided will be conclusively presumed to have been duly given, whether or not the
Holder receives such notice. In any case, a failure to give such notice by mail or any defect in the notice to the Holder of any LoTSSM designated for repayment as a whole or in part will not affect the validity of the proceedings for the repayment of any other LoTSSM. 
 Section 3.4. Deposit of Repayment Amount 
 Before 10:00 a.m. New York City time on the Repayment Date specified in the notice of repayment
given as provided in Section 3.3, the Company will deposit with the Trustee or with one or more Paying Agents (or if the Company is acting as its own Paying Agent, the Company will segregate and hold in trust as provided in Section 10.3 of
the Indenture) an amount of money sufficient to pay the principal amount of, and any accrued interest on, all the LoTSSM that are to be repaid on that date. 
 Section 3.5. Repayment
of LoTSSM 
 If any notice of repayment has been given as provided in Section 3.3, the LoTSSM or portion of the LoTSSM with respect to which such notice has been given will become due and payable on the date and at the place or places stated in such notice. On presentation and surrender of such LoTSSM at a Place of Payment in said notice specified, the said securities or the specified portions thereof will be paid by the
Company at their principal amount, together with accrued interest to the Repayment Date; provided that, except in the case of a repayment in full of all Outstanding LoTSSM, installments of interest whose Stated Maturity is on or before the Repayment Date will be payable to the Holders of such LoTSSM, or one or more Predecessor Securities, registered as such at the close of business on the relevant Regular Record Dates
according to their terms and the provisions of Section 3.7 of the Indenture. 
 Upon presentation of any LoTSSM repaid in part only, the Company will execute and the Trustee will
authenticate and make available for delivery to the Holder thereof, at the expense of the Company, a new LoTSSM, of
authorized denominations, in aggregate principal amount equal to the portion of the LoTSSM not repaid and so
presented and having the same Scheduled Maturity Date and other terms. If a Global Security is so surrendered, such new LoTSSM will also be a new Global Security. 
 If any LoTSSM required to be repaid will not be so repaid upon surrender thereof, the principal of such LoTSSM will, until paid, bear interest from the applicable Repayment Date at the rate prescribed therefore in the LoTSSM. 
 ARTICLE IV

 EXPENSES 
 Section 4.1. Expenses 
 In connection with the offering, sale and
issuance of the LoTSSM to the Property Trustee on behalf of the Trust and in connection with the sale of the Trust
Securities by the Trust, the Company, in its capacity as borrower with respect to the LoTSSM, will: 
 (a) pay, and reimburse the Trust in full for, all costs and expenses relating to
the offering, sale and issuance of the LoTSSM, including commissions to the underwriters payable pursuant to the
Underwriting Agreement and compensation and indemnification of the Trustee under this Third Supplemental Indenture in accordance with the provisions of this Third Supplemental Indenture; 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -21- 

 (b) be responsible for and will
pay, and reimburse the Trust in full for, all debts and obligations (except for any amounts owed to holders of the LoTSSM in their respective capacities as holders) and all costs and expenses of the Trust (including, but not limited to, costs and expenses relating to the organization, maintenance and dissolution of the Trust), the offering, sale and
issuance of the Trust Securities (including commissions to the underwriters in connection therewith), the indemnities, fees and expenses (including reasonable counsel fees and expenses) of the Property Trustee, the Delaware Trustee, the
Administrative Trustees, the Securities Registrar and the Paying Agent, the costs and expenses relating to the operation of the Trust, including, without limitation, costs and expenses of accountants, attorneys, statistical or bookkeeping services,
expenses for printing and engraving and computing or accounting equipment, paying agent(s), registrar(s), transfer agent(s), duplicating, travel and telephone and other telecommunications expenses and costs and expenses incurred in connection with
the acquisition, financing, and disposition of Trust assets and the enforcement by the Property Trustee of the rights of the Holders of the LoTSSM; and 
 (c) pay, and reimburse the Trust in full for, any and all taxes
(other than United States withholding taxes attributable to the Trust or its assets) and all liabilities, costs and other expenses with respect to such taxes of the Trust. 
 Such payment obligation includes any such costs, expenses or liabilities of the Trust that are required by applicable law to be satisfied in connection
with a dissolution of the Trust. 
 Notwithstanding any provision contained herein,
Section 10.6 of the Indenture will not apply for the purposes of the LoTSSM. 
 The Company’s obligations under this Section 4.1 will be for the benefit of, and will be enforceable by, any Person to whom such debts,
obligations and costs are owed (a “Creditor”) whether or not such Creditor has received notice hereof. Any such Creditor may enforce the Company’s obligations under this Section 4.1 directly against the Company and the
Company irrevocably waives any right or remedy to require that any such Creditor take any action against the Trust or any other Person before proceeding against the Company. The Company agrees to execute such additional agreements as may be
necessary or desirable in order to give full effect to the provisions of this Section 4.1. 
 ARTICLE V 
 FORM OF LOTSSM 
 Section 5.1. Form of LoTSSM 
 The LoTSSM are to be substantially in the following form and will bear any legend required by Section 2.4 of the Indenture and include the Trustee’s certificate of authentication in the form required
by Section 2.5 of the Indenture: 
  

				
	 No.
 Issue Date:
	  	Principal Amount: $	            

  

 THIRD SUPPLEMENTAL INDENTURE 
 -22- 

 WACHOVIA CORPORATION 
 6. 375% EXTENDIBLE LONG TERM SUBORDINATED NOTES 
 WACHOVIA CORPORATION, a corporation organized and existing under the laws of North Carolina (hereinafter called the “Company”,
which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to             , or registered assigns, the principal
sum of              ($            ) and all accrued and unpaid interest thereof on June 1, 2067, or if such day is not a
Business Day, the following Business Day (the “Final Repayment Date”). The Company may elect to extend the Final Repayment Date one or two times in ten-year increments on either or both of June 15, 2017 and June 15, 2027
(each such date, an “Extension Date”), if certain conditions are met as set forth in Section 2.2(b) of the Third Supplemental Indenture hereinafter referred to, and as a result the Final Repayment Date of the Security may be
extended to June 1, 2077 (if the election is made on only one Extension Date) or June 1, 2087 (if the election is made on both Extension Dates). 
 The Company further promises to pay interest on said principal sum from and including May 8, 2007, or from and including the most recent Interest Payment Date on which interest has been paid or duly provided for,
quarterly (subject to deferral as set forth herein) in arrears on March 15, June 15, September 15 and December 15 of each year (each such date, an “Interest Payment Date”), commencing September 15,
2007, at the rate of 6.375% per annum (computed on the basis of a 360-day year comprised of twelve 30-day months), plus Additional Interest, if any, until the principal hereof is paid or duly provided for or made available for payment.
Accrued interest that is not paid on the applicable Interest Payment Date, including interest deferred pursuant to Section 2.5 of the Third Supplemental Indenture, will bear Additional Interest, to the extent permitted by law, at the rate of
6.375% per annum, from the relevant Interest Payment Date, compounded on each subsequent Interest Payment Date. In the event that any date on which interest is payable on this Security is not a Business Day, then a payment of the
interest payable on such date will be made on the next succeeding day that is a Business Day (without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date the payment was originally
payable. A “Business Day” will mean any day other than a Saturday, Sunday, or any other day on which banking institutions and trust companies in New York, New York, Wilmington, Delaware or Charlotte, North Carolina, are permitted or
required by any applicable law to close. The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest installment, which will be the date that is the last day of the month immediately preceding the month in which such Interest Payment
Date falls (whether or not a Business Day). Any such interest installment not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name
this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof will be given to Holders of Securities of
this series not less than 10 days before such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon
such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 So long as no Event of Default has occurred
and is continuing, the Company has the right at any time or from time to time during the term of this Security to defer payment of interest on this Security for up to 40 consecutive interest payment periods; provided, however, that no
Deferral Period will extend beyond the Final Repayment Date or the earlier repayment or redemption in full of the Securities. Upon the 

  

 THIRD SUPPLEMENTAL INDENTURE 
 -23- 

 
termination of any Deferral Period and upon the payment of all deferred interest then due, the Company may elect to begin a new Deferral Period, subject to
the above requirements. Except as provided in Section 2.7 of the Third Supplemental Indenture, no interest will be due and payable during an Deferral Period except at the end thereof. 
 So long as any Securities remain outstanding, if the Company has given notice of its election to
defer interest payments on the Securities but the related Deferral Period has not yet commenced or a Deferral Period is continuing, the Company will not, and will not permit any Subsidiary of the Company to, (i) declare or pay any dividends or
distributions, or redeem, purchase, acquire or make a liquidation payment with respect to any shares of the Company’s capital stock, (ii) make any payment of principal of or interest or premium, if any, on or repay, purchase or redeem any
debt securities or guarantees of the Company that rank upon the Company’s liquidation on a parity with this Security (including this Security, the “Parity Securities“), or any debt securities ranking junior in interest to this
Security (except for partial payments of interest with respect to the Security) or (iii) make any payments under any guarantee by the Company that ranks junior to the Guarantee Agreement (other than (a) any purchase, redemption or other
acquisition of shares of the Company’s capital stock in connection with (1) any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more of its employees, officers, directors, consultants or
independent contractors, (2) the satisfaction of the Company’s obligations pursuant to any contract entered into in the ordinary course before the beginning of the Deferral Period, (3) a dividend reinvestment or stockholder purchase
plan, or (4) the issuance of the Company’s capital stock, or securities convertible into or exercisable for such capital stock, as consideration in an acquisition transaction entered into before the applicable Deferral Period; (b) any
exchange, redemption or conversion of any class or series of the Company’s capital stock, or the capital stock of one of its subsidiaries, for any other class or series of the Company’s capital stock, or any class or series of the
Company’s indebtedness for any class or series of its capital stock; (c) any purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the
securities being converted or exchanged; (d) any declaration of a dividend in connection with any rights plan, or the issuance of rights, stock or other property under any rights plan, or the redemption or purchase of rights pursuant thereto;
(e) payments under any Wachovia Guarantee executed for the benefit of the holders of the Trust Preferred Securities; (f) any dividend in the form of stock, warrants, options or other rights where the dividend stock or stock issuable upon
exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock); (g) any payment of current or deferred interest on Parity Securities that is made
pro rata to the amounts due on such Parity Securities (including this Security), provided that such payments are made in accordance with Section 2.7(c) of the Third Supplemental Indenture to the extent it applies, and any payments
of deferred interest on Parity Securities outstanding on the date hereof that, if not made, would cause the Company to breach the terms of the instrument governing such Parity Securities, or (h) any payment of principal in respect of Parity
Securities having an earlier scheduled maturity date than this Security or the same scheduled maturity date as this Security, as required under a provision of such Parity Securities that is substantially the same as the provision described in
Section 2.2 of the Third Supplemental Indenture, and , in the case of Parity Securities having the same scheduled maturity date as this Security that is made on a pro rata basis among one or more series of Parity Securities having such a
provision). ). The distribution restrictions and exceptions in Section 2.6 of the Third Supplemental Indenture will be in lieu of the distribution restrictions and exceptions in Section 3.11 of the Indenture. If any Deferral Period lasts
longer than one year, neither the Company nor any of its Subsidiaries will repurchase or acquire any securities ranking pari passu with or junior to any Qualifying APM Securities the proceeds of which were used to settle deferred interest
during the relevant Deferral Period before the first anniversary of the date on which all deferred interest on the LoTSSM has been paid, subject to the exceptions listed in the proviso of Section 2.6(a) of the Third Supplemental Indenture. However, if the Company is involved in a Business Combination where 

  

 THIRD SUPPLEMENTAL INDENTURE 
 -24- 

 
immediately after its consummation more than 50% of the voting stock of the Person formed by such Business Combination, or the Person that is the surviving
entity of such Business Combination, or the Person to whom such properties and assets are conveyed, transferred or leased in such Business Combination, is owned by the shareholders of the other party to such Business Combination, then the limitation
set forth in the Section 2.6(b) of the Third Supplemental Indenture will not apply to any Deferral Period that is terminated on the next Interest Payment Date following the date of consummation of such Business Combination. 
 The Company will give written notice of its election to begin or extend any Deferral Period, (x) if the Property Trustee, on behalf of the Trust, is
the sole holder of the Securities, to the Property Trustee at least five Business Days before the earlier of (A) the next succeeding date on which the distributions on the Trust Preferred Securities are payable and (B) the date the
Property Trustee is required to give notice to holders of the Trust Preferred Securities of the record or payment date for the related distribution, or (y) if the Property Trustee, on behalf of the Trust, is not the sole Holder of the
Securities, to Holders of the Securities and the Trustee at least five Business Days before the next Interest Payment Date. Notice of such election will be given by the Property Trustee by first-class mail, postage prepaid, mailed not less than
three Business Days after the Property Trustee receives written notice from the Company to each holder of Trust Securities at such holder’s address appearing in the Security Register. 
 Payment of the principal of and interest on this Security will be made at the office or agency of the Company maintained for that purpose in the United
States, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of interest may be made
(i) by check mailed to the address of the Person entitled thereto as such address will appear in the Securities Register or (ii) by wire transfer in immediately available funds at the bank account number as may be designated by the Person
entitled thereto as specified in the Securities Register in writing not less than ten days before the relevant Interest Payment Date. 
 The
indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Debt, and this Security is issued subject to the provisions of the Indenture
with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and will be bound by such provisions, (b) authorizes and directs the Trustee on his behalf to take such actions as may be necessary or appropriate to
effectuate the subordination so provided and (c) appoints the Trustee his attorney-in-fact for any and all such purposes. Each Holder hereof, by his acceptance hereof, waives all notice of the acceptance of the subordination provisions
contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such holder upon said provisions. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions will for all purposes have
the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred
to on the reverse hereof by manual signature, this Security will not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -25- 

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

			
	WACHOVIA CORPORATION
		
	By:	 	  

		 	PRESIDENT OR VICE PRESIDENT

 Attest: 
 SECRETARY OR ASSISTANT SECRETARY 
 (FORM OF REVERSE OF LoTSSM) 
 This Security
is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under the Indenture, dated as of February 1, 2006 (herein called the “Base
Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”), as amended and supplemented by the Third Supplemental Indenture, dated as of May 8, 2007, between the Company and the
Trustee (the “Third Supplemental Indenture”, and together with the Base Indenture, the “Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. By the terms of the
Indenture, the Securities are issuable in series that may vary as to amount, date of maturity, rate of interest, rank and in any other respect provided in the Indenture. 
 All terms used in this Security that are defined in the Indenture or in the Amended and Restated Trust Agreement, dated as of May 8, 2007, as amended (the “Trust Agreement”), for Wachovia Capital
Trust IX among Wachovia Corporation, as Sponsor, U.S. Bank National Association, as the Property Trustee, U.S. Bank Trust National Association, as the Delaware Trustee, and the Administrative Trustees, will have the meanings assigned to them in the
Indenture or the Trust Agreement, as the case may be. 
 This Security will be redeemable at the option of the Company in accordance with the
terms of the Indenture. In particular, this Security is redeemable at a Redemption Price equal to 100% of its principal amount plus accrued and unpaid interest to the Redemption Date (i) in whole or in part at the option of the Company at any
time on or after June 15, 2012 and (ii) in whole but not in part at any time after the occurrence of and during the continuation of a Tax Event, a Rating Agency Event, an Investment Company Event or a Capital Treatment Event. Securities of
this series shall be subject to partial redemption only in the amount of $25 or integral multiples thereof. 
 No sinking fund is provided
for the Securities. 
 The Indenture contains provisions for satisfaction and discharge of the entire indebtedness of this Security upon
compliance by the Company with certain conditions set forth in the Indenture. 
 The Indenture permits, with certain exceptions as therein
provided, the Company and the Trustee at any time to enter into a supplemental indenture or indentures for the purpose of modifying in any manner the rights and obligations of the Company and of the Holders of the Securities, with the consent of the
Holders of not less than a majority in principal amount of the Outstanding Securities to be affected by such supplemental indenture. The Indenture also contains provisions permitting Holders of specified 

  

 THIRD SUPPLEMENTAL INDENTURE 
 -26- 

 
percentages in principal amount of the Securities at the time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security will be conclusive and binding upon such Holder and upon all future Holders of
this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, if an Event of Default (other than an Event of Default specified in Section 5.1(4) or
5.1(6) of the Base Indenture) with respect to the Securities at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities may declare
the entire principal amount and all accrued but unpaid interest of all the Securities to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders); provided that, in the case of the
Securities issued to and held by Wachovia Capital Trust IX, or any trustee thereof or agent therefor, if upon an Event of Default, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities fails to declare the
entire principal and all accrued but unpaid interest of all the Securities to be immediately due and payable, the holders of at least 25% in aggregate Liquidation Amount of the Trust Preferred Securities then outstanding shall have such right by a
notice in writing to the Company and the Trustee; and upon any such declaration the principal amount of and the accrued but unpaid interest (including any Additional Interest); and on all the Securities will become immediately due and payable;
provided that the payment of principal and interest (including any Additional Interest) on such Securities will remain subordinated to the extent provided in Article XIII of the Base Indenture. 
 So long as any Securities are held by or on behalf of Wachovia Capital Trust IX, any holder of the Trust Preferred Securities issued by the Wachovia
Capital Trust IX shall have the right, upon (i) the failure to pay principal or interest on this Security when due, or the breach by the Company of its obligations under Section 2.2(a)(iv) of the Third Supplemental Indenture to issue
Qualifying Capital Securities or Section 2.7(a) of the Third Supplemental Indenture to issue Qualifying APM Securities or (ii) the occurrence of an Event of Default described in Section 2.9(a) of the Third Supplemental Indenture, to
institute a suit directly against the Company (a) in the case of (i) above, to enforce such obligations or for such other remedies as may be available and (b) in the case of (ii) above, for enforcement of payment to such holder
of principal of (premium, if any) and (subject to Section 3.7 of the Base Indenture) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust
Agreement) of such Trust Preferred Securities. 
 No reference herein to the Indenture and no provision of this Security or of the Indenture
will alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the Securities
Register, upon surrender of this Security for registration of transfer at the office or agency of the Company maintained under Section 10.2 of the Base Indenture duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Securities Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees. No service charge 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. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -27- 

 Before due presentment of this Security for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee will treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent will be
affected by notice to the contrary. 
 The Securities are issuable only in registered form without coupons in minimum denominations of $25
and integral multiples thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities are exchangeable for a like aggregate principal amount of Securities of a different authorized denomination, as requested
by the Holder surrendering the same. 
 The Company and, by its acceptance of this Security or a beneficial interest therein, the Holder of,
and any Person that acquires a beneficial interest in, this Security agree to treat for United States Federal income tax purposes (i) the Securities as indebtedness of the Company, and (ii) the stated interest on the Securities as ordinary
interest income that is includible in the Holder’s or beneficial owner’s gross income at the time the interest is paid or accrued in accordance with the Holder’s or beneficial owner’s regular method of tax accounting, and
otherwise to treat the Securities as described in the Prospectus. 
 The Indenture and this Security will be governed by and construed in
accordance with the laws of the State of New York. 
 This is one of the Securities referred to in the within mentioned Indenture.

 ASSIGNMENT 
 FOR VALUE
RECEIVED, the undersigned assigns and transfers this Security to: 

	
	  

	  

	  

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

	
	  

	  

	  

 (Insert address and zip code of assignee) 
 agent to transfer this Security on the books of the Securities Registrar. The agent may substitute another to act for him or her. 
  

			
	Dated:	 	Signature:
		
		 	Signature Guarantee:

 (Sign exactly as your name appears on the other side of this Security) 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Securities Registrar, which requirements include
membership or participation in the Security Transfer 

  

 THIRD SUPPLEMENTAL INDENTURE 
 -28- 

 
Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Securities
Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
 ARTICLE VI

 ORIGINAL ISSUE OF
LOTSSM 
 Section 6.1. Original Issue of LoTSSM 
 LoTSSM in the aggregate principal amount of $750,010,000 may, upon execution of this Third Supplemental Indenture, be executed by the Company and delivered to the Trustee or an Authenticating Agent for
authentication, and the Trustee or an Authenticating Agent will thereupon authenticate and deliver said LoTSSM in
accordance with a Company Order. Subject to the maximum aggregate principal amount of LoTSsm specified in
Section 2.1, from time to time after the execution of this Third Supplemental Indenture, additional LoTSSM
having the same terms (provided that such LoTSSM, if issued on or after the first Interest Payment Date,
shall bear interest from the most recent Interest Payment Date) may be executed by the Company and delivered to the Trustee or an Authenticating Agent for authentication, and the Trustee or an Authenticating Agent will thereupon authenticate and
deliver said LoTSSM in accordance with a Company Order. Any such LoTSSM shall become part of the same series as the LoTSSM originally issued hereunder. 
 Section 6.2. Calculation of Original Issue Discount 
 If during any calendar year any original issue discount shall have accrued on the LoTSSM, the Company will file with each Paying Agent (including the Trustee if it is a Paying Agent) promptly at the end of each
calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information relating
to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. Neither the Company nor the Trust would make actual payments on the LoTSSM, or on the Trust Preferred Securities, as the case may be, during a Deferral Period. 
 ARTICLE VII 
 SUBORDINATION 
 Section 7.1. Senior Debt 
 The subordination provisions of Article XIII of the Indenture will apply to the LoTSSM, except that for the purposes of the LoTSSM (but not for the purposes of any other Securities unless specifically set forth in the terms of such Securities): 
 (a) the definition of “Senior Debt” in the Indenture is hereby amended to delete clauses (ii), (iii) and (v), renumber
clause (iv) as clause (ii), and add the following: 
 “(iii)
(x) indebtedness that (a) qualifies or is issued to financing vehicles issuing securities that qualify as tier 1 capital of the Company under the capital guidelines of the Federal Reserve or does not at the time of issuance prevent the
Company’s 6.375% Extendible Long Term Subordinated Notes (the “LoTSSM”) from qualifying as tier 1
capital of the 

  

 THIRD SUPPLEMENTAL INDENTURE 
 -29- 

 
Company under the capital guidelines of the Federal Reserve and (b) by its terms is not superior in right of payment to the LoTSSM or to other debt that is pari passu with or junior to the LoTSSM; and (y) guarantees of indebtedness described in clause (x) or securities issued by one or more financing vehicles described in clause (x).”

 (b) Notwithstanding the foregoing or any other provision of the
Indenture or of this Third Supplemental Indenture, provided that the Company is not subject to a bankruptcy, insolvency, liquidation or similar proceeding, the priority of the LoTSSM in right of payment as to Parity Securities is subject to the provisions of Section 2.6 and the Company will be permitted to pay interest or principal on
Parity Securities in accordance with Section 2.6. 
 Section 7.2. Compliance with Federal Reserve Rules 
 The Company will not incur any additional indebtedness for borrowed money that ranks pari passu
with or junior to the LoTSSM (if then subject to Article XIII of the Indenture), except in compliance with
applicable regulations and guidelines of the Federal Reserve. 
 ARTICLE VIII 
 MISCELLANEOUS 
 Section 8.1. Effectiveness 
 This Third Supplemental Indenture will become effective upon its execution and delivery. 
 Section 8.2. Modification of Supplemental Indenture 
 Without the consent of any Holders of the LoTSSM, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental
hereto, in form satisfactory to the Trustee, (i) to add to or change any terms of this Third Supplemental Indenture or the LoTSSM to conform the terms of the Indenture (as supplemented by this Third Supplemental Indenture) or the LoTSSM to the description of the LoTSSM in the prospectus dated February 7, 2007, of the Sponsor and
the Trust relating to the offering of the Trust Preferred Securities, as supplemented by the prospectus supplement, dated May 1, 2007 or (ii) to eliminate Common Stock or Qualifying Warrants (but not both) from the definition of
“Qualifying APM Securities” if the Company has been advised in writing by a nationally recognized independent accounting firm that there is more than an insubstantial risk that the failure to do so would result in a reduction in its
earnings per share as calculated for financial reporting purposes. 
 Section 8.3. Miscellaneous 
 The Company will promptly give notice to Holders, in the manner provided for in the Indenture, of (i) any extension of the Final Repayment Date
pursuant to Section 2.2(b) and (ii) any amendment to the definition of “Qualifying APM Securities” eliminating Common Stock or Qualifying Warrants pursuant to Section 8.2. 
 Section 8.4. Successors and Assigns 
 All covenants and agreements in the Indenture, as supplemented and amended by this Third Supplemental Indenture, by the Company will bind its successors and assigns, whether so expressed or not. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -30- 

 Section 8.5. Further Assurances 
 The Company will, at its own cost and expense, execute and deliver any documents or agreements, and take any other actions that the Trustee or its counsel
may from time to time request in order to assure the Trustee of the benefits of the rights granted to the Trustee under the Indenture, as supplemented and amended by this Third Supplemental Indenture. 
 Section 8.6. Effect of Recitals 
 The recitals contained herein and in the LoTSSM, except the Trustee’s certificates of authentication, will be taken as the statements of the Company, and neither the Trustee nor any Authenticating
Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Third Supplemental Indenture or of the LoTSSM. Neither the Trustee nor any Authenticating Agent will be accountable for the use or application by the Company of the LoTSSM or the proceeds thereof. 
 Section 8.7. Ratification of Indenture 
 The Indenture as supplemented by this Third Supplemental Indenture, is in all
respects ratified and confirmed, and this Third Supplemental Indenture will be deemed part of the Indenture in the manner and to the extent herein and therein provided. 
 Section 8.8. Governing Law 
 This Third
Supplemental Indenture and the LoTSSM will be governed by and construed in accordance with the laws of the State of New
York. 
 * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute but one and the same instrument. 
  

 THIRD SUPPLEMENTAL INDENTURE 
 -31- 

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

			
	WACHOVIA CORPORATION
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 Attest:

		
	 By:
	 	  

  

			
	 U.S. BANK NATIONAL ASSOCIATION,

	         as Trustee

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 Attest:

		
	 By:
	 	  

 THIRD SUPPLEMENTAL INDENTURE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]