Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT 

This Amendment No. 1 to that certain Employment Agreement dated July 1, 2010 (this “Amendment”) is made by and between
Gold Resource Corporation (the “Company”) and Joe Rodriguez (the “Employee”), effective as of October 10, 2013, with reference to the following facts: 

WHEREAS, (i) the Company and the Employee entered into that certain Employment Agreement effective July 1, 2010 (the
“Agreement”) and (ii) the parties desire to amend the Agreement as set forth herein. 
 NOW THEREFORE, in
consideration of the foregoing recitals and the provisions contained herein, the adequacy and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

	 	1.	Amendment. The Agreement is hereby amended as follows: 

 1.1
Section 1 of the Agreement is hereby deleted and replaced in its entirety with the following: 
 “1. Employment; Duties.
The Company hereby agrees to employ the Employee effective as of October 10, 2013 (the “Effective Date”) as its Chief Financial Officer, and the Employee hereby agrees to serve in such capacity. Employee shall be responsible for performing
such duties as are customarily performed by the chief financial officer, including but not limited to, oversight of the Company’s tax and financial accounting and reporting functions including preparation, review and execution of the
Company’s periodic compliance reports to be filed with securities regulators, budgeting and financial forecasting, and for any other duties assigned by the Chief Executive Officer (“CEO”), President or Board of Directors of the
Company. The Employee shall at all times report to and take direction from the CEO, President or Board of Directors and shall perform such additional duties not inconsistent with his position as shall be designated from time to time by the
Company.” 
 1.2 Section 4.1 of the Agreement is hereby deleted and replaced in its entirety with the following:

 “4.1 Base Salary. As compensation for the Employee’s services rendered hereunder, the Company shall pay to the Employee
a base salary at an annual rate equal to two hundred twenty-five thousand dollars ($225,000) (the “Base Salary”). The Base Salary shall be payable to the Employee on a monthly basis in accordance with the Company’s standard policies
for management personnel.” 

	 	2.	Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of Colorado without regard to the conflict of laws of such state. 

 

	 	3.	Counterparts. This Amendment may be executed in separate counterparts, each of which so executed and delivered shall constitute an original but all such counterparts shall together constitute one and the same
instrument and any one of which may be used to evidence this Amendment. 

  

	 	4.	Severability. All provisions of this Amendment are severable and any provision which may be prohibited by law shall be ineffective to the extent of such prohibition without invalidating the remaining provisions
of this Amendment and the parties hereto agree to cooperate to provide a legal substitute for any provision which is prohibited by law. 

  

	 	5.	Entire Agreement; Modifications and Amendments. This Amendment, together with the Agreement, constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior
agreements and understandings both oral and written, between the parties with respect to the subject matter hereof. No provision of this Amendment may be amended or waived unless such amendment or waiver is agreed to in writing, signed by the
parties to this Amendment. 

 IN WITNESS WHEREOF, each of the parties hereto have executed this Amendment to be
effective as of the date first written above. 
  

			
	THE COMPANY:
	Gold Resource Corporation, a Colorado corporation
		
	By:	 	 /s/ Jason Reid

	Name:	 	Jason Reid
	Title:	 	Chief Executive Officer and President
	
	EMPLOYEE:
		
	By:	 	 /s/ Joe Rodriguez

		 	Joe Rodriguez

 EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) is effective July 1, 2010 between Gold Resource Corporation, a Colorado corporation
(the “Company”), and Joe Rodriguez (the “Employee”) (collectively, the “Parties”). 
 W I T N E S S E T
H: 
 WHEREAS, the Company wishes to engage the Employee’s services upon the terms and conditions hereinafter set forth; and

 WHEREAS, the Employee wishes to be employed by the Company upon the terms and conditions hereinafter set forth. 

NOW, THEREFORE, in consideration of the premises and mutual promises set forth below, the sufficiency of which is hereby acknowledged, the
Parties agree as follows: 
 1. Employment; Duties. The Company hereby agrees to employ the Employee effective as of the date first
above written (the “Effective Date”) as its Corporate Controller, and the Employee hereby agrees to serve in such capacity. Employee shall be responsible for accounting and financial services and any other duties assigned to him by the
Chief Executive Officer (“CEO”) or in his absence the President of the Company. The Employee shall at all times report to and take direction from the CEO, and shall perform such additional duties not inconsistent with his position as shall
be designated from time to time by the Company. 
 2. Best Efforts. The Employee agrees to use his best efforts to promote the
interests of the Company and shall, except for illness, reasonable vacation periods and leaves of absence, devote his full business time and energies to the business and affairs of the Company. The Employee shall be permitted to perform material
outside business endeavors only with the approval of the CEO, President or Board of Directors, provided that such outside activities do not interfere with the performance of the Employee’s duties. The Employee may also engage in work for
charitable, benevolent, civic or educational purposes so long as such endeavors do not interfere with the Employee’s duties hereunder. 

3. Term of Agreement. The term of this Agreement shall commence on the Effective Date and such term and the employment hereunder shall
continue, unless earlier terminated in accordance with the provisions of Section 5, for a period of three years (the “Original Term”). On the third anniversary of the effective date of this Agreement and on each subsequent anniversary
thereafter, the term of the Employee’s employment shall be automatically extended one additional year unless, prior to 120 days before such anniversary, the Company shall have delivered to the Employee or the Employee shall have delivered to
the Company written notice that the term of the Employee’s employment hereunder will not be extended. The period of employment of the Employee by the Company, commencing with the Effective Date and continuing until termination of the employment
by expiration or notice hereunder, in accordance with Section 5 or otherwise, shall be known as the “Term of Employment.” 

 4. Compensation. 

4.1 Base Salary. As compensation for the Employee’s services rendered hereunder, the Company shall pay to the Employee a base
salary at an annual rate equal to one hundred twenty-five thousand dollars $125,000 (the “Base Salary”). The Base Salary shall be payable to the Employee on a monthly basis in accordance with the Company’s standard policies for
management personnel. 
 4.2 Incentive Compensation. With respect to each calendar year or portion thereof, beginning with calendar
year 2010, the Employee shall be eligible to receive incentive compensation, including but not limited to, bonuses, stock options and other perquisites, payable solely in the discretion of the Chief Executive Officer of the Company
(“CEO”). 
 4.3 Benefits. The Employee shall be entitled to participate in all benefit programs established by the Company
and generally applicable to the Company’s employees, including group health, dental and life insurance, 401(k) plan and vacation pay. The Employee shall also be reimbursed for reasonable and necessary business expenses incurred in the course of
his employment with the Company pursuant to Company policies established from time to time. Reimbursement shall be made to the extent such expenses are deductible by the Company in accordance with applicable Internal Revenue Service rules. The
Employee shall be entitled to three weeks of paid vacation per year and all paid holidays. 
 4.4 Cellular Phone. The Company shall,
during the Term of Employment, provide the Employee with and pay for the Employee’s use of a cellular phone for business and reasonable personal use. 

4.5 Office, Equipment and Assistance. The Company shall provide for the Employee all facilities, equipment and services suitable to his
position and adequate for the performance of his duties. The Employee will be required to perform the services and duties described in Section 1 primarily at the Denver location of the Company. 

5. Termination of Employment Relationship. 

5.1 Death. This Agreement shall terminate immediately upon the death of the Employee. In such event, the Company shall pay
Employee’s estate an amount equal to 12 months Base Salary, such amount being payable within 90 days after his death. 
 5.2
Disability. This Agreement shall not terminate upon the temporary disability of the Employee, but the Company may terminate this Agreement upon Employee’s permanent disability (“Total Disability”). In such event, the Company
shall pay Employee an amount equal to twenty-four (24) months Base Salary, such amount being payable within 90 days after such termination, such amount being reduced by any disability insurance thereafter to be received by Employee for which
the Company pays all the premiums and of which Employee is the beneficiary. The Board of Directors shall make a determination of the Total Disability of the Employee based upon the definition of disability contained in any disability insurance
policy owned by the Company and insuring against the disability of the Employee, and if the Company 

 
does not have such a policy, then by reference to any policy owned by the Employee. If no such policy exists or if such policy does not comply with the provisions of Section 409A of the
Internal Revenue Code of 1986, as amended (“Section 409A”), Total Disability shall be based upon the inability of the Employee to engage in any substantial gainful activity by reason of any medically determinable physical or mental
impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. Any such determination by the Board of Directors shall be evidenced by its written opinion delivered to the Employee.
Such written opinion shall specify with particularity the reasons supporting such opinion and be manually signed by at least a majority of the Board of Directors. 

5.3 Termination by the Company. This Agreement may be terminated by the Company for “Cause” and, in such event, the term of
employment shall terminate at the termination date designated by the Company. For the purpose of this paragraph, “Termination for Cause” or “Cause” shall include the following: 

(a) Failure by the Employee to substantially perform his duties hereunder; 

(b) Conviction of criminal conduct by the Employee that adversely affects the reputation of the Employee or the Company or
adversely impacts the ability of the Employee to perform the duties required hereunder. 
 (c) Engagement by the Employee in the use of
narcotics or alcohol to the extent that the performance of his duties is materially impaired; 
 (d) Material breach of the terms of this
Agreement by the Employee or failure to substantially comply with proper instructions of the CEO, President or Board of Directors; 
 (e)
Willful misconduct by the Employee which is materially injurious to the Company, other than business decisions made in good faith; or 

(f) Any act or omission on the part of the Employee not described above, but which constitutes material and willful misfeasance, malfeasance,
or gross negligence in the performance of his duties to the Company. 
 5.4 Termination by the Employee. The Employee may terminate
this Agreement for “Good Reason.” For purposes of this paragraph, “Good Reason” shall mean: 
 (a) Any assignment to
the Employee of any duties materially inconsistent with the position described in Section 1 hereof; 
 (b) Any material diminution of
the duties of the Employee then-existing without the written consent of the Employee; 
 (c) Any removal of the Employee from the position
described in Section 1 hereof without the Employee’s written consent, except in connection with termination of the Employee pursuant to Section 5.1, 5.2 or 5.3 hereof; 

 (d) A reduction in the Employee’s rate of compensation, or a material reduction in the
Employee’s fringe benefits, or any other failure of the Company to comply with Section 4 of this Agreement; or 
 (e) Other
material breach of this Agreement by the Company. 
 A Change in Control. The Employee may terminate this Agreement following a
“Change of Control” of the Company. For purposes of this paragraph, a “Change of Control” shall be deemed to have occurred if (i) a tender offer shall be made and consummated for the ownership of 50% or more of the
outstanding voting securities of the Company; (ii) the sale of 50% or more of the outstanding voting securities of the Company in a single transaction or a series of transactions occurring during a period of not more than twelve months;
(iii) the Company shall be merged or consolidated with another corporation and as a result of such merger or consolidation less than 50% of the outstanding securities of the surviving or resulting corporation shall be owned in the aggregate by
the former shareholders of the Company, as the same shall have existed immediately prior to such merger or consolidation; or (iv) the Company shall sell substantially all of its assets to another corporation which is not a wholly owned
subsidiary. 
 Any termination by the CEO or Board of Directors pursuant to Section 5.2 or 5.3 or by the Employee pursuant to
Section 5.4 shall be communicated by written Notice of Termination to the other Party hereto. “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall
set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under the provision so indicated. 

The Employee’s obligations under Section 6 regarding confidentiality shall survive any termination of this Agreement by the
Employee, by the Company or otherwise. 
 5.4 Payment Upon Termination. 

(a) If this Agreement is terminated by the Company for Cause, or the Employee resigns without Good Reason, during the Term of Employment, the
Employee shall not be entitled to severance pay of any kind but shall be entitled to be reimbursed for all reasonable business expenses incurred by the Employee and shall be paid the Base Salary earned by the Employee prior to the effective date of
termination or resignation, and all obligations of the Company under Section 4 hereof shall terminate upon the designated termination date, except to the extent otherwise required by law. 

(b) In the event that the Employee is terminated without Cause or the Employee resigns with Good Reason, the Company shall pay to the
Employee an amount equal to thirty-five (35) months Base Salary at the rate prevailing for the Employee immediately prior to such termination as severance pay, payable in accordance with the Company’s normal payroll. The Employee shall
also be entitled to receive benefits to which he was entitled immediately preceding the date of termination for a similar period, including but not limited to health and dental insurance. Notwithstanding the foregoing, the timing of the payments
described in this 

 
subsection (b) of Section 5.4 may be modified if, and only if, necessary to comply with the provisions of Section 409A such that the amounts payable to the Employee are paid to him
in the year in which such income is required to be included in his gross income for tax purposes. 
 (c) The parties agree that this
Agreement is intended to comply with the requirements of Section 409A and the regulations and other guidance promulgated thereunder or an exemption from 409A. Notwithstanding anything in this Agreement to the contrary, if the Employee is a
“specified employee” (as described in Section 409A) on the date of his separation from service, any amount to which the Employee would otherwise be entitled during the first six (6) months following separation of service that
constitutes nonqualified deferred compensation within the meaning of Section 409A and that is therefore not exempt from Section 409A as involuntary separation pay or a short-term deferral will be accumulated and paid in a single lump sum
cash payment (without interest) on the earlier of (i) the first business day of the seventh (7th) month following the date of such “separation from service” (as defined under Section 409A) or (ii) the date of the
Employee’s death, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified herein. For purposes of this Agreement, each amount to be paid or benefit to be
provided hereunder shall be construed as a separate identified payment for purposes of Section 409A. 
 6. Confidentiality and
Non-Disclosure. 
 6.1 Confidential Information. The Employee and the Company recognize that due to the nature of his engagement
under this Agreement, and the relationship of the Employee to the Company, the Employee has had access to and has acquired or will have access to and will acquire, and has assisted in and may assist in developing, confidential and proprietary
information relating to the business and operations of the Company and its affiliates, including trade secrets as defined in the Colorado Uniform Trade Secrets Act and information with respect to their present and prospective products, services,
systems, software, data, customers, agents, processes, and sales and marketing methods. The Employee acknowledges that such information has been and will continue to be of central importance to the business of the Company and its affiliates and that
disclosure of it to or its use by others could cause substantial loss to the Company. The Employee will keep confidential any trade secrets or confidential or proprietary information of the Company and its affiliates which are now known to him or
which hereafter may become known to him as a result of his employment or association with the Company and shall not at any time directly or indirectly disclose any such information to any person, firm or corporation, or use the same in any way other
than in connection with the business of the Company or its affiliates during and at all times after the expiration of the Term of Employment. 

6.2 Remedy. In the event of a breach or threatened breach by the Employee of any of the provisions of this Section 6, the Company
shall be entitled to injunctive relief, restraining the Employee and any business, firm, partnership, individual, corporation, or entity participating in such breach or attempted breach, from engaging in any activity which would constitute a breach
of this Section 6. Nothing herein, however, shall be construed as prohibiting the Company from pursuing any other remedies available at law or in equity for such breach or threatened breach, including the recovery of damages. The provisions of
this Section 6 shall survive the termination of this Agreement and the termination of the Employee’s employment. 

 7. Miscellaneous. 

7.1 Assignability. The Employee may not assign his rights and obligations under this Agreement without the prior written consent of the
Company, which consent may be withheld for any reason or for no reason. 
 7.2 Severability. In the event that any of the provisions
of this Agreement shall be held to be invalid or unenforceable, the remaining provisions shall nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included therein. 

7.3 Entire Agreement. This Agreement, and any attachments hereto, constitute the entire agreement between the Parties relating to the
subject matter hereof and supersedes all prior agreements or understandings among the Parties hereto with respect to the subject matter hereof. 

7.4 Amendments. This Agreement shall not be amended or modified except by a writing signed by both Parties hereto. 

7.5 Waiver. The failure of either Party at any time to require performance of the other Party of any provision of this Agreement shall
in no way affect the right of such Party thereafter to enforce the same provision, nor shall the waiver by either Party of any breach of any provision hereof be taken or held to be a waiver of any other or subsequent breach, or as a waiver of the
provision itself. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Colorado without regard to the conflict of laws of such State. The benefits of this Agreement may not be assigned nor any duties under
this Agreement be delegated by the Employee without the prior written consent of the Company, except as contemplated in this Agreement. This Agreement and all of its rights, privileges, and obligations will be binding upon the Parties and all
successors and agreed to assigns thereof 
 7.6 Binding Agreement. This Agreement shall be effective as of the date hereof and shall
be binding upon and inure to the benefit of the Employee, his heirs, personal and legal representatives, guardians and permitted assigns. The rights and obligations of the Company under this Agreement shall inure to the benefit of and shall be
binding upon any successor or assignee of the Company, including any entity that may be merged with or into the Company. 
 7.7
Headings. The headings or titles in this Agreement are for the purpose of reference only and shall not in any way affect the interpretation or construction of this Agreement. 

7.8 No Conflict. The Employee represents and warrants that he is not subject to any agreement, order, judgment or decree of any kind
which would prevent him from entering into this Agreement or performing fully his obligations hereunder. 
 7.9 Survival. The rights
and obligations of the Parties shall survive the Term of Employment to the extent that any performance is required under this Agreement after the expiration or termination of such Term of Employment. 

 7.10 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original but all of which shall together constitute one and the same document. 
 7.11 Notices. Any notice
to be given hereunder by either Party to the other may be effected in writing by personal delivery, or by mail, certified with postage prepaid, or by overnight delivery service. Notices sent by mail or by an overnight delivery service shall be
addressed to the Parties at the addresses appearing following their signatures below, or upon the employment records of the Company but either Party may change its or his address by written notice in accordance with this paragraph. 

7.12 Opportunity to Consult Counsel. The Parties hereto represent and agree that, prior to executing this Agreement, each has had the
opportunity to consult with independent counsel concerning the terms of this Agreement. 
 7.13 Attorney Fees. In the event of any
dispute, arbitration, litigation between the Parties or proceeding before any court of competent jurisdiction, the prevailing Party shall be entitled to reasonable attorney fee, costs and expenses. 

[Signatures on following page] 

 IN WITNESS WHEREOF, the Parties hereto have properly and duly executed this Agreement to be
effective as of the date first written above. 
  

			
	THE COMPANY:
	
	Gold Resource Corporation
		
	By:	 	 /s/ David Reid

	Name:	 	 David Reid

	Title:	 	 Vice President

	
	EMPLOYEE:
	
	 /s/ Joe A. Rodriguez

	Joe A. RodriguezEX-4.2

 Exhibit 4.2 

Execution Version 

MAGELLAN MIDSTREAM PARTNERS, L.P. 

as Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION 

as Trustee 

$300,000,000 
 5.15%
SENIOR NOTES DUE 2043 
 THIRD SUPPLEMENTAL INDENTURE 

Dated as of October 10, 2013 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I. ESTABLISHMENT OF NEW SERIES
	  	 	1	  
	 Section 1.01
	 	 Establishment of New Series
	  	 	1	  
		
	 ARTICLE II. DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	2	  
	 Section 2.01
	 	 Definitions
	  	 	2	  
		
	 ARTICLE III. THE NOTES
	  	 	5	  
	 Section 3.01
	 	 Form
	  	 	5	  
	 Section 3.02
	 	 Issuance of Additional Notes
	  	 	5	  
	 Section 3.03
	 	 Transfer of Notes
	  	 	5	  
	 Section 3.04
	 	 Restrictive Legend
	  	 	5	  
		
	 ARTICLE IV. REDEMPTION
	  	 	5	  
	 Section 4.01
	 	 Optional Redemption
	  	 	5	  
	 Section 4.02
	 	 Mandatory Redemption
	  	 	6	  
		
	 ARTICLE V. COVENANT SUPPLEMENTS AND AMENDMENTS
	  	 	6	  
	 Section 5.01
	 	 Covenants of the Partnership
	  	 	6	  
		
	 ARTICLE VI. ADDITIONAL EVENT OF DEFAULTS
	  	 	9	  
	 Section 6.01
	 	 Events of Default
	  	 	9	  
		
	 ARTICLE VII. MODIFICATION OF INDENTURE
	  	 	10	  
	 Section 7.01
	 	 Modification of Indenture with Consent of Holders of Debt Securities
	  	 	10	  
		
	 ARTICLE VIII. MISCELLANEOUS
	  	 	10	  
	 Section 8.01
	 	 Integral Part
	  	 	10	  
	 Section 8.02
	 	 Adoption, Ratification and Confirmation
	  	 	11	  
	 Section 8.03
	 	 Counterparts
	  	 	11	  
	 Section 8.04
	 	 Governing Law
	  	 	11	  
	 Section 8.05
	 	 Trustee Makes No Representation
	  	  
	 11
	   

  
 i 

 THIRD SUPPLEMENTAL INDENTURE dated as of October 10, 2013 (this “Third
Supplemental Indenture”) between Magellan Midstream Partners, L.P., a Delaware limited partnership (the “Partnership” or the “Issuer”), and U.S. Bank National Association, a national
banking association, as trustee (the “Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Issuer has previously entered into an Indenture, dated as of August 11, 2010 (the “Original
Indenture”), with U.S. Bank National Association, as trustee; 
 WHEREAS, the Original Indenture, as amended and supplemented
pursuant to this Third Supplemental Indenture, is herein called the “Indenture”; 
 WHEREAS, the Issuer proposes to
create under the Indenture a new series of Debt Securities; 
 WHEREAS, additional Debt Securities of other series hereafter established,
except as may be limited in the Original Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Original Indenture as at the time supplemented and modified by a supplemental indenture; and 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Third Supplemental Indenture and to make it a valid and
binding obligation of the Issuer have been done or performed; 
 NOW, THEREFORE, in consideration of the agreements and obligations set
forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I. 

ESTABLISHMENT OF NEW SERIES 

Section 1.01 Establishment of New Series. 

(a) There is hereby established a new series of Notes to be issued under the Indenture, to be designated as the Issuer’s
5.15% Senior Notes due 2043 (the “Notes”). 
 (b) There are to be authenticated and delivered $300,000,000
principal amount of Notes on the Issue Date, and from time to time thereafter there may be authenticated and delivered an unlimited principal amount of Additional Notes. 

(c) The Notes shall be issued initially in the form of one or more Global Securities in substantially the form set out in
Exhibit A hereto. The Depositary with respect to the Notes shall be The Depository Trust Company. 
 (d) Initially,
there shall be no Subsidiary Guarantors. Each Note shall be dated the date of authentication thereof and shall bear interest as provided in paragraph number 1 of the form of Note in Exhibit A hereto. 

  
 1 

 (e) If and to the extent that the provisions of the Original Indenture are
duplicative of, or in contradiction with, the provisions of this Third Supplemental Indenture, the provisions of this Third Supplemental Indenture shall govern. 

ARTICLE II. 
 DEFINITIONS
AND INCORPORATION BY REFERENCE 
 Section 2.01 Definitions. All capitalized terms used herein and not otherwise
defined below shall have the meanings ascribed thereto in the Original Indenture. The following are additional definitions used in this Third Supplemental Indenture: 

“Additional Notes” has the meaning assigned to it in Section 3.02 hereof. 

“Commodity Trading Obligations” with respect to any Person, means the obligations of such Person under
(1) any commodity swap agreement, commodity future agreement, commodity option agreement, commodity cap agreement, commodity floor agreement, commodity collar agreement, commodity hedge agreement, and any put, call or other agreement or
arrangement, or combination thereof, designed to protect such Person against fluctuations in commodity prices or (2) any commodity swap agreement, commodity future agreement, commodity option agreement, commodity hedge agreement, and any put,
call or other agreement or arrangement, or combination thereof (including an agreement or arrangement to hedge foreign exchange risks) in respect of commodities entered into by the Partnership pursuant to asset optimization and risk management
policies and procedures adopted in good faith by the Board of Directors. 
 “Consolidated Net Tangible Assets”
means, at any date of determination, the total amount of assets after deducting therefrom (1) all current liabilities (excluding (A) any current liabilities that by their terms are extendible or renewable at the option of the obligor
thereon to a time more than 12 months after the time as of which the amount thereof is being computed, and (B) current maturities of long-term debt), and (2) the amount (net of any applicable reserves) of all goodwill, trade names,
trademarks, patents and other like intangible assets, all as set forth on the consolidated balance sheet of the Partnership and its consolidated subsidiaries for the Partnership’s most recently completed fiscal quarter, prepared in accordance
with GAAP. 
 “Debt” means any obligation created or assumed by any Person for the repayment of money
borrowed, any purchase money obligation created or assumed by such Person and any guarantee of the foregoing. 
 “Funded
Debt” means all Debt maturing one year or more from the date of the creation thereof, all Debt directly or indirectly renewable or extendible, at the option of the debtor, by its terms or by the terms of any instrument or
agreement relating thereto, to a date one year or more from the date of the creation thereof, and all Debt under a revolving credit or similar agreement obligating the lender or lenders to extend credit over a period of one year or more. 

“Issue Date” means the date on which the Notes are initially issued. 

“Lien” means, as to any Person, any mortgage, lien, pledge, security interest or other encumbrance in or
on, or adverse interest or title of any vendor, lessor, lender or other secured party to or of such Person under conditional sale or other title retention agreement or capital lease with respect to, any property or asset of such Person. 

  
 2 

 “Notes” has the meaning assigned to it in
Section 1.01(a) hereof. 
 “Permitted Hedging Obligations” of any Person shall mean (1) hedging
obligations entered into in the ordinary course of business and in accordance with such Person’s established risk management policies that are designed to protect such Person against, among other things, fluctuations in interest rates or
currency exchange rates and which in the case of agreements relating to interest rates shall have a notional amount no greater than the payments due with respect to the Debt being hedged thereby and (2) Commodity Trading Obligations. 

“Permitted Liens” means (1) Liens upon rights-of-way for pipeline purposes; (2) any statutory or
governmental Lien, mechanics’, materialmen’s, carriers’ or similar Lien incurred in the ordinary course of business which is not yet due or which is being contested in good faith by appropriate proceedings and any undetermined Lien
which is incidental to construction; (3) the right reserved to, or vested in, any municipality or public authority by the terms of any right, power, franchise, grant, license, permit or by any provision of law, to purchase or recapture or to
designate a purchaser of, any property or assets; (4) Liens for taxes and assessments which are (A) for the then current year, (B) not at the time delinquent, or (C) delinquent but the validity of which is being contested at the
time by the Partnership or any Restricted Subsidiary in good faith; (5) Liens arising under, or to secure performance of, leases, other than capital leases; (6) any Lien upon, or deposits of, any assets in favor of any surety company or
clerk of court for the purpose of obtaining indemnity or stay of judicial proceedings; (7) any Lien upon property or assets acquired or sold by the Partnership or any Restricted Subsidiary resulting from the exercise of any rights arising out
of defaults on receivables; (8) any Lien incurred in the ordinary course of business in connection with workmen’s compensation, unemployment insurance, temporary disability, social security, retiree health or similar laws or regulations or
to secure obligations imposed by statute or governmental regulations; (9) any Lien in favor of the United States of America or any state thereof, or any other country, or any political subdivision of any of the foregoing, to secure partial,
progress, advance or other payments pursuant to any contract or statute, or any Lien securing industrial development, pollution control or similar revenue bonds; (10) any easements, exceptions or reservations in any property or assets of the
Partnership or any Restricted Subsidiary granted or reserved for the purpose of pipelines, roads, the removal of oil, gas, coal or other minerals, and other like purposes, or for the joint or common use of real property, facilities and equipment,
which are incidental to, and do not materially interfere with, the ordinary conduct of its business or the business of the Partnership and its Subsidiaries, taken as a whole; (11) Liens securing Permitted Hedging Obligations; or (12) Liens
arising by reason of any judgment, decree or order of any court not giving rise to an Event of Default, so long as any such Lien is being contested in good faith, and any appropriate legal proceedings that may have been duly initiated for the review
of such judgment, decree or order have not been finally terminated or the period within which such proceedings may be initiated has not expired. 

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

  
 3 

 “Principal Property” means any pipeline, terminal or
terminal facility property or asset owned or leased by the Partnership or any Subsidiary, including any related property or asset employed in the transportation (including vehicles that generate transportation revenues), distribution, terminalling,
gathering, treating, processing, marketing or storage of crude oil or refined petroleum products, natural gas, natural gas liquids, fuel additives, petrochemicals or ammonia, except (1) any property or asset consisting of inventories,
furniture, office fixtures and equipment (including data processing equipment), vehicles and equipment used on, or useful with, vehicles (but excluding vehicles that generate transportation revenues as provided above), and (2) any such property
or asset, plant or terminal which, in the opinion of the Board of Directors, is not material in relation to the activities of the Partnership and its Subsidiaries, taken as a whole. 

“Ratings Affirmation” means, with respect to any particular action or proposed action, each of Standard &
Poor’s Rating Services and Moody’s Investors Service, Inc. or, if either or both of such ratings agencies do not then rate the Notes, such other nationally recognized statistical rating organization (as defined in the rules and regulations
of the SEC) then having issued long-term debt ratings for the Notes, affirms that such long-term debt ratings will not be lowered as a result of the taking of such action or proposed action. 

“Restricted Subsidiary” means any Subsidiary of the Partnership that owns or leases, directly or indirectly through
the ownership of or an ownership interest in another Subsidiary, any Principal Property. 
 “Sale-Leaseback
Transaction” means the sale or transfer by the Partnership or any Restricted Subsidiary of any Principal Property to a Person (other than the Partnership or a Restricted Subsidiary) and the taking back by the Partnership or any
Restricted Subsidiary, as the case may be, of a lease of such Principal Property. 
 “Subsidiary” means, with
respect to any Person, 
 (1) any other Person of which more than 50% of the total voting power of capital interests (without regard to any
contingency to vote in the election of directors, managers, trustees, or equivalent persons), at the time of such determination, is owned or controlled, directly or indirectly, by such Person or one or more of the Subsidiaries of such Person; 

(2) in the case of a partnership, any Person of which more than 50% of the partners’ capital interests (considering all partners’
capital interests as a single class), at the time of such determination, is owned or controlled, directly or indirectly, by such Person or one or more of the Subsidiaries of such Person; or 

(3) any other Person in which such Person or one or more of the Subsidiaries of such Person have the power to control, by contract or
otherwise, the board of directors, managers, trustees or equivalent governing body of, or otherwise control, such other Person. 

  
 4 

 ARTICLE III. 

THE NOTES 

Section 3.01 Form. The Notes shall be issued in the form of one or more Global Securities, and the Notes and Trustee’s
certificate of authentication shall be substantially in the form of Exhibit A hereto, the terms of which are incorporated in and made a part of this Third Supplemental Indenture, and the Issuer and the Trustee, by their execution and delivery
of this Third Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 Section 3.02
Issuance of Additional Notes. The Issuer may, from time to time, issue an unlimited amount of additional Notes (“Additional Notes”) under the Indenture, which shall be issued in the same form as the Notes issued
on the Issue Date and which shall have the same terms as the Notes issued on the Issue Date (except for the issue date of such Additional Notes, the public offering price of such Additional Notes and, if applicable, the date for the first payment of
interest following the issue date of such Additional Notes). The Notes issued on the Issue Date shall be limited in aggregate principal amount to $300,000,000. The Notes issued on the Issue Date and any Additional Notes subsequently issued shall be
treated as a single series for purposes of giving of notices, consents, waivers, amendments and taking any other action permitted under the Indenture and for purposes of interest accrual (except as may be otherwise specified in connection with the
issuance of such Additional Notes) and redemptions. 
 Section 3.03 Transfer of Notes. When Notes are presented to the
Registrar with the request to register the transfer of such Notes or exchange such Notes for an equal principal amount of Notes of other authorized denominations, the Registrar shall register the transfer or make the exchange in accordance with
Article II of the Original Indenture. 
 Section 3.04 Restrictive Legend. Each security certificate evidencing the Global
Securities shall bear a legend substantially in the form set forth in Section 2.15(a) of the Original Indenture. 
 ARTICLE IV.

 REDEMPTION 

Section 4.01 Optional Redemption. 

(a) At any time prior to April 15, 2043 (the date that is six months prior to the Stated Maturity), at its option, the
Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined by the Issuer equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum
of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive of interest accrued to such Redemption Date) discounted to such Redemption Date on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate (as defined in paragraph 5 of the form of Note attached as Exhibit A) plus 25 basis points, plus, in either case, accrued and unpaid interest, if any, to such Redemption Date. 

  
 5 

 (b) At any time on or after April 15, 2043 (the date that is six months
prior to the Stated Maturity), at its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined by the Issuer equal to 100% of the principal amount of the Notes to be
redeemed, plus accrued and unpaid interest, if any, to such Redemption Date. 
 (c) Any redemption pursuant to this
Section 4.01 shall be made pursuant to the provisions of Sections 3.01 through 3.03 of the Original Indenture. The actual redemption price, calculated as provided in this Section 4.01 and paragraph number 5 of the form of Note in
Exhibit A hereto, shall be certified in writing to the Issuer and the Trustee by the Independent Investment Banker (as defined in such paragraph 5) no later than two Business Days prior to each Redemption Date. 

Section 4.02 Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund payments
with respect to the Notes and shall have no obligation to repurchase any Notes at the option of the Holders. 
 ARTICLE V. 

COVENANT SUPPLEMENTS AND AMENDMENTS 

Section 5.01 Covenants of the Partnership. Article IV of the Original Indenture is hereby supplemented, but only in
relation to the Notes, by the addition of the following new Sections at the end of Article IV: 
 “Section 4.08.
Subsidiary Guarantees. If any Subsidiary of the Partnership that is not then a Subsidiary Guarantor becomes a guarantor or co-obligor of any Funded Debt of the Partnership, in either case after the Issue Date, then the Partnership shall cause
such Subsidiary to promptly execute and deliver a supplemental Indenture, substantially in the form of Exhibit B to the Third Supplemental Indenture, providing for the Guarantee of the payment of the Notes pursuant to Article XIV hereof. 

Section 4.09. Limitations on Liens. The Partnership will not, nor will it permit any Subsidiary to, create, assume,
incur or suffer to exist any Lien upon any Principal Property or upon any capital stock of any Restricted Subsidiary, whether owned or leased on the date of this Indenture or thereafter acquired, to secure any Debt of the Partnership or any other
Person (other than the Debt Securities issued hereunder), without in any such case making effective provision whereby all of the Debt Securities Outstanding hereunder shall be secured equally and ratably with, or prior to, such Debt so long as such
Debt shall be so secured. This restriction shall not apply to or prevent the creation or existence of: 
 (a) any Lien on any
property or assets of the Partnership or any Restricted Subsidiary in existence on the Issue Date or created pursuant to an “after-acquired property” clause or similar term in existence on the Issue Date in any mortgage, pledge agreement,
security agreement or other similar instrument applicable to the Partnership or any Restricted Subsidiary and in existence on the Issue Date; 

  
 6 

 (b) any Lien on any property or assets created at the time of acquisition of such
property or assets by the Partnership or any Restricted Subsidiary or within one year after such time to secure all or a portion of the purchase price for such property or assets or Debt incurred to finance such purchase price, whether such Debt was
incurred prior to, at the time of or within one year of such acquisition; 
 (c) any Lien on any property or assets existing
thereon at the time of the acquisition thereof by the Partnership or any Restricted Subsidiary (whether or not the obligations secured thereby are assumed by the Partnership or any Restricted Subsidiary), provided that such Lien only encumbers the
property or assets so acquired; 
 (d) any Lien on any property or assets of a Person existing thereon at the time such
Person becomes a Restricted Subsidiary by acquisition, merger or otherwise, provided that such Lien is not incurred in anticipation of such Person becoming a Restricted Subsidiary; 

(e) any Lien on any property or assets to secure all or part of the cost of construction, development, repair or improvements
thereon or to secure Debt incurred prior to, at the time of, or within one year after completion of such construction, development, repair or improvements or the commencement of full operations thereof (whichever is later), to provide funds for any
such purpose; 
 (f) any Lien in favor of the Partnership or any Restricted Subsidiary; 

(g) any Lien created or assumed by the Partnership or any Restricted Subsidiary in connection with the issuance of Debt the
interest on which is excludable from gross income of the holder of such Debt pursuant to the Internal Revenue Code of 1986, as amended, or any successor statute, for the purpose of financing, in whole or in part, the acquisition or construction of
property or assets to be used by the Partnership or any Subsidiary; 
 (h) Permitted Liens; 

(i) any Lien on any additions, improvements, replacements, repairs, fixtures, appurtenances or component parts thereof,
attaching to or required to be attached to property or assets pursuant to the terms of any mortgage, pledge agreement, security agreement or other similar instrument, creating a Lien upon such property or assets permitted by Clauses (a) through
(h), inclusive, of this Section; or 
 (j) any extension, renewal, refinancing, refunding or replacement (or successive
extensions, renewals, refinancings, refundings or replacements) of any Lien, in whole or in part, that is referred to in Clauses (a) through (i), inclusive, of this Section, or of any Debt secured thereby; provided, however, that the principal
amount of Debt secured thereby shall not exceed the greater of (1) the principal amount of Debt so secured at the time of such extension, renewal, refinancing, refunding or replacement (plus the aggregate amount of premiums, other payments,
costs and expenses required to be paid or incurred in connection with such extension, renewal, refinancing, refunding or replacement) and (2) the maximum committed principal amount of Debt so secured at

  
 7 

 
such time; provided further, however, that such extension, renewal, refinancing, refunding or replacement shall be limited to all or a part of the property or assets (including improvements,
alterations and repairs on such property or assets) subject to the Lien so extended, renewed, refinanced, refunded or replaced (plus improvements, alterations and repairs on such property or assets). 

Notwithstanding the foregoing provisions of this Section, the Partnership may, and may permit any Subsidiary to, create,
assume, incur or suffer to exist any Lien upon any Principal Property or capital stock of a Restricted Subsidiary to secure Debt of the Partnership or any other Person (other than the Debt Securities) that is not excepted by Clauses (a) through
(j), inclusive, of this Section without securing the Debt Securities issued hereunder, provided that the aggregate principal amount of all Debt then outstanding secured by such Lien and all other Liens not excepted by Clauses (a) through (j),
inclusive, of this Section, together with all net sale proceeds from Sale-Leaseback Transactions (excluding Sale-Leaseback Transactions permitted by Clauses (a) through (d), inclusive, of Section 4.11), does not exceed at any one time 15%
of Consolidated Net Tangible Assets. 
 Section 4.10. Restriction of Sale-Leaseback Transaction. The Partnership
will not, nor will it permit any Restricted Subsidiary to, engage in a Sale-Leaseback Transaction, unless: 
 (a) the
Sale-Leaseback Transaction occurs within one year from the date of acquisition of the Principal Property subject thereto or the date of the completion of construction or commencement of full operations on such Principal Property, whichever is later;

 (b) the Sale-Leaseback Transaction involves a lease for a period, including renewals, of not more than three years; 

(c) the Partnership or such Restricted Subsidiary would be entitled under Section 4.09 to incur Debt secured by a Lien on
the Principal Property subject to the Sale-Leaseback Transaction in a principal amount equal to or exceeding the net sale proceeds from such Sale-Leaseback Transaction without equally and ratably securing the Debt Securities; or 

(d) the Partnership or such Restricted Subsidiary, within a one-year period after such Sale-Leaseback Transaction, applies or
causes to be applied an amount not less than the net sale proceeds from such Sale-Leaseback Transaction to (1) the prepayment, repayment, redemption or retirement of any unsubordinated Funded Debt of the Partnership or any Funded Debt of a
Subsidiary of the Partnership, or (2) investment in another Principal Property. 
 Notwithstanding the foregoing
provisions of this Section, the Partnership may, and may permit any Restricted Subsidiary to, effect any Sale-Leaseback Transaction that is not excepted by Clauses (a) through (d), inclusive, of this Section, provided that the net sale proceeds
from such Sale-Leaseback Transaction, together with the aggregate principal amount of then outstanding Debt (other than the Debt Securities) secured by Liens upon Principal Properties not excepted by Clauses (a) through (j), inclusive, of
Section 4.09, do not exceed at any one time 15% of Consolidated Net Tangible Assets. 

  
 8 

 Section 4.11. Compliance with and Modification of Organizational
Documents. The Partnership shall comply with the terms and provisions of Sections 2.9, 7.9 and 12.9 of its Fifth Amended and Restated Agreement of Limited Partnership, dated as of September 28, 2009, as amended, and shall not amend,
supplement or otherwise modify (pursuant to a waiver or otherwise) any of such Sections in a manner materially adverse to the interests of the Holders of the Notes unless the Partnership obtains a Ratings Affirmation in connection with any such
amendment, supplement or modification or failure to comply.” 
 ARTICLE VI. 

ADDITIONAL EVENT OF DEFAULTS 

Section 6.01 Events of Default. With respect to the Notes only, the following additional Events of Default are hereby added
to Section 6.01(h) of the Original Indenture: 
 “(h-1) default by the Partnership or any of its Subsidiaries in
the payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of, premium, if any, or interest on any Debt then outstanding having a principal amount in excess of the greater of $50.0 million or 5% of the
Partnership’s total consolidated partners’ capital, or acceleration of any Debt having a principal amount in excess of such amount so that it becomes due and payable prior to its Stated Maturity and such acceleration is not rescinded
within 60 days after the date on which written notice specifying such default shall have been given to the Partnership by the Trustee or to the Partnership and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at
the time Outstanding; 
 (h-2) a final judgment or order for the payment of money in excess of the greater of $50.0 million
or 5% of the Partnership’s total consolidated partners’ capital (in each case, net of applicable insurance coverage) having been rendered against the Partnership or any Subsidiary and such judgment or order shall continue unsatisfied and
unstayed for a period of 60 days; and 
 (h-3) the failure of the General Partner to comply with the terms and provisions of
Sections 2.08 and 7.10(c) of its Third Amended and Restated Limited Liability Company Agreement, dated September 28, 2009, or the amendment, supplementation or other modification of (pursuant to a waiver or otherwise) either of such Sections in
a manner materially adverse to the interests of the Holders of the Notes unless the Partnership obtains a Ratings Affirmation in connection with any such amendment, supplementation or modification or failure to comply.” 

  
 9 

 ARTICLE VII. 

MODIFICATION OF INDENTURE 

Section 7.01 Modification of Indenture with Consent of Holders of Debt Securities. The first paragraph of Section 9.02
of the Original Indenture is hereby amended and restated in its entirety, but only in relation to the Notes, as follows: 

“Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the Holders of not less
than a majority in aggregate principal amount of the Outstanding Debt Securities of each series affected by such supplemental Indenture (including consents obtained in connection with a tender offer or exchange offer for any such series of Debt
Securities), the Partnership and the Subsidiary Guarantors, when authorized by resolutions of the Board of Directors, and the Trustee may from time to time and at any time enter into an Indenture or Indentures supplemental hereto (which shall
conform to the provisions of the TIA as in force at the date of execution thereof) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental Indenture or of
modifying in any manner the rights of the Holders of the Debt Securities of such series; provided, with respect to amending the Indenture as to matters that require the consent of the Holders of not less than a majority in aggregate principal amount
of all Debt Securities of each series that would be affected by such amendment, the Notes and any Additional Notes shall vote together as a single class with any future series of the Partnership’s senior Debt Securities (unless otherwise
provided in the prospectus relating to such future series of senior Debt Securities) and any other series of the Partnership’s senior Debt Securities then Outstanding which are entitled by their terms to vote on the amendment in question;
provided further, that no such supplemental Indenture, without the consent of the Holders of each Debt Security so affected, shall: reduce the percentage in principal amount of Debt Securities of any series whose Holders must consent to an
amendment; reduce the rate of or extend the time for payment of interest on any Debt Security; reduce the principal of or extend the Stated Maturity of any Debt Security; reduce any premium payable upon the redemption of any Debt Security or change
the time at which any Debt Security may or shall be redeemed in accordance with Article III; make any Debt Security payable in currency other than the Dollar; impair the right of any Holder to receive payment of premium, if any, principal of and
interest on such Holder’s Debt Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Debt Securities; release any security that may have been granted in
respect of the Debt Securities, other than in accordance with this Indenture; make any change in Section 6.06 or this Section 9.02; or, except as provided in Section 11.02(b) or Section 14.04, release the Subsidiary Guarantors
other than as provided in this Indenture or modify the Guarantee in any manner adverse to the Holders.” 
 ARTICLE VIII. 

MISCELLANEOUS 

Section 8.01 Integral Part. This Third Supplemental Indenture constitutes an integral part of the Indenture. 

  
 10 

 Section 8.02 Adoption, Ratification and Confirmation. The Original Indenture,
as supplemented and amended by this Third Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 

Section 8.03 Counterparts. This Third Supplemental Indenture may be executed in any number of counterparts, each of which
when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 

Section 8.04 Governing Law. THIS THIRD SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 Section 8.05 Trustee Makes No Representation. The Trustee makes
no representation as to the validity or sufficiency of this Third Supplemental Indenture. 
 [Signatures on following page] 

  
 11 

 
							
	SIGNATURES
		
		 	ISSUER:
		
		 	MAGELLAN MIDSTREAM PARTNERS, L.P.
			
		 	By:	 	Magellan GP, LLC, its General Partner
				
		 		 	By:	 	/s/ John D. Chandler
		 		 		 	John D. Chandler
		 		 		 	Chief Financial Officer and
		 		 		 	Senior Vice President of
		 		 		 	Magellan GP, LLC
		
		 	TRUSTEE:
		
		 	U.S. BANK NATIONAL ASSOCIATION,
		 	as Trustee
			
		 	By:	 	/s/ George Hogan
		 		 	George Hogan
		 		 	Vice President

 Signature Page to Third Supplemental Indenture 

 EXHIBIT A 

(Form of Face of Note) 

No.                     

CUSIP 559080 AG1 

$300,000,000 
 ISIN
US559080AG18 
 MAGELLAN MIDSTREAM PARTNERS, L.P. 

5.15% Senior Note due 2043 

Magellan Midstream Partners, L.P., a Delaware limited partnership, promises to pay to
                    , or registered assigns, the principal sum of
                     Dollars [or such greater or lesser amount as may be endorsed on the Schedule attached hereto]1 on October 15, 2043. 
  

			
	Interest Payment Dates:	  	April 15 and October 15
		
	Record Dates:	  	April 1 and October 1

  

					
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

 

			
	 U.S. BANK NATIONAL ASSOCIATION,
 As
Trustee

		
	By:	 	 
		 	Authorized Signatory
	 Dated:
	 	  

  

	1 	To be included only if the Note is issued in global form. 

  
 Exhibit A-1 

 (Form of Back of Note) 

5.15% Senior Note due 2043 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE PARTNERSHIP OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL
BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN THE INDENTURE REFERRED TO HEREIN.]2 
 Capitalized terms used herein shall
have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 1. Interest. Magellan Midstream
Partners, L.P., a Delaware limited partnership (the “Partnership” or the “Issuer”), promises to pay interest on the principal amount of this Note at 5.15% per annum from October 10, 2013
until maturity. The Issuer shall pay interest semi-annually on April 15 and October 15 of each such year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment
Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance, October 10, 2013; provided that if there is no existing Default in
the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further,
that the first Interest Payment Date shall be April 15, 2014. The Issuer shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at
the same rate; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate
to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.2 

 

	2 	To be included only if Note is issued in global form. 

  
 Exhibit A-2 

 2. Method of Payment. The Issuer shall pay interest on the Notes (except Defaulted
Interest) to the Persons who are registered Holders of Notes at the close of business on the April 1 or October 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest
Payment Date, except as provided in Section 2.17 of the Original Indenture with respect to Defaulted Interest, and the Issuer shall pay principal (and premium, if any) of the Notes upon surrender thereof to the Trustee or a paying agent on or
after the Stated Maturity thereof. The Notes shall be payable as to principal, premium, if any, and interest at the office or agency of the Trustee maintained for such purpose in New York, New York (which initially is 100 Wall Street, Suite 1600,
New York, New York 10005), or, at the option of the Issuer, payment of interest may be made by check mailed to the Holders at their addresses set forth in the Debt Security Register, and provided that payment by wire transfer of immediately
available funds shall be required with respect to principal of, and interest and premium, if any, on, (a) each Global Security and (b) all other Notes aggregating at least $1,000,000 in principal amount the Holder of which shall have
provided wire transfer instructions to the Issuer or the paying agent on or prior to the applicable record date. Such payment shall be 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. 
 3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee under the
Indenture, shall act as paying agent and Registrar. The Issuer may change any paying agent or Registrar without notice to any Holder. The Partnership may act in any such capacity. 

4. Indenture. The Issuer issued the Notes under an Indenture dated as of August 11, 2010 (the “Original
Indenture”), as amended and supplemented by the Third Supplemental Indenture, dated as of October 10, 2013 (the “Third Supplemental Indenture,” and, together with the Original Indenture the
“Indenture”) between the Issuer and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code
§§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are the obligation of the Issuer, initially in aggregate principal amount of $300.0 million. The Issuer may issue an unlimited aggregate principal amount of
Additional Notes under the Indenture. Any such Additional Notes that are actually issued shall be treated as issued and outstanding Notes (and as the same series with the same terms (except for the issue date of such Additional Notes, the public
offering price of such Additional Notes and, if applicable, the date for the first payment of interest following the issue date of such Additional Notes) as the initial Notes for the purposes indicated in Section 3.02 of the Third Supplemental
Indenture). Initially, the Notes are not guaranteed, but in the future they may be guaranteed by one or more Subsidiary Guarantors on the conditions and subject to the terms provided in Section 4.08 and Article XIV of the Indenture. 

5. Optional Redemption. (a) At any time prior to April 15, 2043 (the date that is six months prior to the Stated Maturity), at
its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined by the Issuer equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and
(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive of interest accrued to such Redemption Date) discounted to such Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 25 basis points, plus, in either case, accrued and unpaid interest, if any, to such Redemption Date. 

  
 Exhibit A-3 

 (b) At any time on or after April 15, 2043 (the date that is six months prior to the Stated
Maturity), at its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time, at a redemption price determined by the Issuer equal to 100% of the principal amount of the Notes to be redeemed, plus accrued
and unpaid interest, if any, to such Redemption Date. 
 For purposes of determining the redemption price, the following definitions shall
apply: 
 “Comparable Treasury Issue” means the United States Treasury security or securities selected by the
Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of a comparable maturity to the remaining term of the Notes to be redeemed. 

“Comparable Treasury Price” means, for any Redemption Date, (1) the average of four Reference Treasury Dealer
Quotations for such Redemption Date, after excluding the highest and lowest of all of the Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such quotations. 
 “Independent Investment Banker” means J.P. Morgan Securities LLC or Citigroup
Global Markets Inc., or any of their respective successor firms, or if each such firm is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Trustee after
consultation with the Partnership. 
 “Primary Treasury Dealer” means a primary U.S. government securities dealer in
New York City. 
 “Reference Treasury Dealer” means each of (1) J.P. Morgan Securities LLC and Citigroup Global
Markets Inc., or their successors; and (2) two other Primary Treasury Dealers (in each case, or its affiliates and successors) that the Issuer specifies from time to time, provided that if any of the Reference Treasury Dealers specifically
named above resigns, its successor dealer shall be a Primary Treasury Dealer selected by the Trustee. 
 “Reference Treasury
Dealer Quotations” means, for each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case
as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

  
 Exhibit A-4 

 “Treasury Rate” means, with respect to any Redemption Date, (1) the
yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the
Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term of the Notes to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue
shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during the week in
which the calculation date falls (or in the immediately preceding week if the calculation date falls on any day prior to the usual publication date for such release) or does not contain such yields, the rate per year equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The
Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date. Any weekly average yields calculated by interpolation or extrapolation will be rounded to the nearest 1/100th of 1%, with any figure of 1/200th of 1% or above
being rounded upward. 
 6. Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund
payments with respect to the Notes or to repurchase them at the option of the Holders. 
 7. Notice of Redemption. Notice of
redemption shall be mailed by first class mail at least 30 days but not more than 60 days before the Redemption Date to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed
in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the Redemption Date interest shall cease to accrue on Notes or portions thereof called for redemption and with respect to which
the redemption price has been paid. 
 8. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in
minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents, and the Issuer may require a Holder to pay any taxes or other governmental charges imposed in relation thereto. 

9. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for all purposes. 

10. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture may be amended or supplemented with the consent of
the Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes, and any existing default or compliance with any provision of the Indenture relating to the Notes may be waived with the consent of the Holders of
not less than a majority in aggregate principal amount of the then Outstanding Notes; provided, with respect to amending the Original Indenture as to matters that require the consent of the Holders of not less than a majority in aggregate principal
amount of all 

  
 Exhibit A-5 

 
Debt Securities of each series that would be affected by such amendment, the Notes and any Additional Notes shall vote together as a single class with any future series of the Partnership’s
senior Debt Securities (unless otherwise provided in the prospectus relating to such future series of senior Debt Securities) and any other series of the Partnership’s senior Debt Securities then Outstanding which are entitled by their terms to
vote on the amendment in question. Without the consent of any Holder of a Note, the Indenture may be amended or supplemented for any of the purposes set forth in Section 9.01 of the Indenture, including to provide for the assumption of the
Issuer’s obligations to Holders of the Notes in case of a merger or consolidation of the Issuer or sale of all or substantially all of the Issuer’s assets, to add to the covenants of the Issuer or any Subsidiary Guarantor, to cure any
ambiguity or omission or to correct any defect or inconsistency, to permit the qualification of the Indenture under the TIA, to add or release Subsidiary Guarantors pursuant to the terms of the Indenture, to make any change that does not adversely
affect the rights under the Indenture of any Holder of the Notes, to add to, change or eliminate any of the provisions of the Indenture in respect of one or more series of Debt Securities in certain circumstances, to evidence or provide for the
acceptance of appointment under the Indenture of a successor or separate Trustee or to establish the form or terms of any other series of Debt Securities. 

11. Defaults and Remedies. Events of Default with respect to the Notes include: (i) default for 30 days in the payment when due of
interest on the Notes; (ii) default in payment when due of principal of or premium, if any, on the Notes when due at Stated Maturity, upon redemption or otherwise; (iii) failure by the Partnership or any Subsidiary Guarantor to comply for
60 days after notice with any of its other covenants or agreements in the Indenture relating to the Notes; (iv) certain events of bankruptcy, insolvency or reorganization with respect to the Issuer or, if and so long as the Notes are guaranteed
by a Subsidiary Guarantor, such Subsidiary Guarantor; (v) any Guarantee ceasing to be in full force and effect or held in any judicial proceeding to be null and void, or any Subsidiary Guarantor denying or disaffirming its obligations under the
Indenture or its Guarantee; (vi) default by the Partnership or any of its Subsidiaries in the payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of, premium, if any, or interest on any Debt then
outstanding having a principal amount in excess of the greater of $50.0 million or 5% of the Issuer’s total consolidated partners’ capital, or acceleration of any Debt having a principal amount in excess of such amount so that it becomes
due and payable prior to its Stated Maturity and such acceleration is not rescinded within 60 days after notice; (vii) a final judgment or order for the payment of money in excess of the greater of $50.0 million or 5% of the Issuer’s total
consolidated partners’ capital (in each case, net of applicable insurance coverage) having been rendered against the Partnership or any Subsidiary and such judgment or order continues unsatisfied and unstayed for a period of 60 days and
(viii) the failure of the General Partner to comply with certain separateness and bankruptcy related provisions of its limited liability company agreement or the amendment or modification of such provisions. If any Event of Default occurs and
is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then Outstanding Notes may declare all the Notes to be due and payable. Notwithstanding the foregoing, in the case of an Event of Default arising from
certain events of bankruptcy or insolvency, all Outstanding Notes shall become due and payable without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations,
Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders 

  
 Exhibit A-6 

 
of the Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if the Trustee determines in good faith that withholding notice
is in the Holders’ interests. The Holders of not less than a majority in aggregate principal amount of the Notes then Outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any past Default or Event of
Default and its consequences under the Indenture except a Default or Event of Default in the payment of interest on, the principal of, or premium, if any, on, the Notes or an Event of Default relating to a provision of the Indenture that cannot be
amended without the consent of each Holder affected thereby. The Partnership is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Partnership is required within 30 days after the occurrence of
any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default and certain additional information. 

12. Trustee Dealings with Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not the Trustee. 

13. Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.

 14. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in
common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

15. CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the
Issuer has caused CUSIP and corresponding ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and corresponding ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

The Issuer shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Magellan Midstream Partners, L.P. 

P.O. Box 22186 
 Tulsa, Oklahoma
74121-2186 
 Attention: General Counsel 

  
 Exhibit A-7 

 Assignment Form 

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

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

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

and irrevocably appoint 

	
	
	 

 agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

			
		
	Date:	 	 

  

			
	Your Signature:	 	 
	(Sign exactly as your name appears on the face of this Note).

  

			
	Signature Guarantee:	  	 

 (Signature must be guaranteed by a financial institution that is a member of the Securities Transfer the
Securities Transfer Agent Medallion Program (“STAMP”), the Stock Exchange Medallion Program (“SEMP”), the New York Stock Exchange, Inc. Medallion Signature Program (“MSP”) or
such other signature guarantee program as may be determined by the Registrar in addition to, or in substitution for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934, as amended.) 

  
 Exhibit A-8 

 SCHEDULE OF INCREASES OR DECREASES IN THE GLOBAL NOTE3 
 The original principal amount of this Global Note is $300,000,000. The following
increases or decreases in this Global Note have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount
	 	 Amount of increase in
Principal Amount
	  	Principal Amount of this
Global Note following
such decrease or increase	  	Signature of authorized
signatory of Trustee or
Note Custodian

  

 

	3 	To be included only if the Note is issued in global form. 

  
 Exhibit A-9 

 EXHIBIT B 

FORM OF SUPPLEMENTAL INDENTURE 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as
of             , among Magellan Midstream Partners, L.P., a Delaware limited partnership (the “Partnership” or the
“Issuer”),             (the “Subsidiary Guarantor”), a direct or indirect subsidiary of the Partnership, and U.S. Bank National Association,
as trustee under the indenture referred to below (the “Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Issuer has previously executed and delivered to the Trustee an indenture (the “Original Indenture”),
dated as of August 11, 2010, as amended and supplemented by the Third Supplemental Indenture (the “Third Supplemental Indenture,” and, together with the Original Indenture, the “Indenture”) dated
as of October 10, 2013, between the Issuer and the Trustee, providing for the issuance of the Issuer’s 5.15% Senior Notes due 2043 (the “Notes”); 

WHEREAS, Section 4.08 of the Indenture provides that under certain circumstances the Partnership is required to cause the Subsidiary
Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the Subsidiary Guarantor shall unconditionally guarantee all of the Issuer’s obligations under the Notes pursuant to a Guarantee on the terms and
conditions set forth herein; and 
 WHEREAS, pursuant to Section 9.01(g) of the Original Indenture, the Issuer, the Subsidiary
Guarantor and the Trustee are authorized to execute and deliver this Supplemental Indenture; 
 NOW, THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Notes as
follows: 
 1. Definitions. 

(a) Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

(b) For all purposes of this Supplemental Indenture, except as otherwise herein expressly provided or unless the context
otherwise requires: (i) the terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture; and (ii) the words “herein,” “hereof” and “hereby” and
other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 

2. Agreement to Guarantee. The Subsidiary Guarantor hereby agrees, jointly and severally with any other Subsidiary Guarantors under the
Indenture, to guarantee the Issuer’s obligations under the Notes and all other amounts due and payable under the Indenture on the terms and subject to the conditions set forth in Article XIV of the Original Indenture and to be

  
 Exhibit B-1 

 
bound by all other applicable provisions of the Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions
thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 

3. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A NEW YORK CONTRACT, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 4. Trustee Makes No Representation. The Trustee makes no representation as to
the validity or sufficiency of this Supplemental Indenture. 
 5. Counterparts. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 6. Effect of
Headings. The Section headings herein are for convenience only and shall not effect the construction thereof. 
 IN WITNESS WHEREOF, the
parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written. 
  

					
	ISSUER:
	
	MAGELLAN MIDSTREAM PARTNERS, L.P.
		
	By:	 	Magellan GP, LLC, its General Partner
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 
	
	[SUBSIDIARY GUARANTOR]
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  
 Exhibit B-2 

 
					
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
			
		 	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  
 Exhibit B-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}]]