Document:

Exhibit 4-275

    
Exhibit 4-275

DTE ENERGY COMPANY
AND
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
TRUSTEE
__________________________
SUPPLEMENTAL INDENTURE
DATED AS OF SEPTEMBER 1, 2012
__________________________
SUPPLEMENTING THE AMENDED AND RESTATED INDENTURE
DATED AS OF APRIL 9, 2001
PROVIDING FOR
2012 SERIES C 5.25% JUNIOR SUBORDINATED DEBENTURES DUE 2062

SUPPLEMENTAL INDENTURE, dated as of the 1st day of September, 2012 (the “Supplemental Indenture”), between DTE Energy Company, a corporation organized and existing under the laws of the State of Michigan (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as successor trustee (the “Trustee”);
WHEREAS, the Company has heretofore executed and delivered to the Trustee an Amended and Restated Indenture, dated as of April 9, 2001 (the “Original Indenture”), as amended, supplemented or modified, including by this Supplemental Indenture (as so amended, supplemented or modified, the “Indenture”), providing for the issuance by the Company from time to time of its debt securities; and
WHEREAS, the Company now desires to provide for the issuance of a series of its unsecured, subordinated debt securities pursuant to the Original Indenture; and
WHEREAS, the Company, in the exercise of the power and authority conferred upon and reserved to it under the provisions of the Original Indenture, including Section 901 thereof, and pursuant to appropriate resolutions of the Board of Directors, has duly determined to make, execute and deliver to the Trustee this Supplemental Indenture to the Original Indenture as permitted by Section 201 and Section 301 of the Original Indenture in order to establish the form or terms of, and to provide for the creation and issue of, a series of its debt securities under the Original Indenture, which shall be known as the “2012 Series C 5.25% Junior Subordinated Debentures due 2062 ” (the “Debentures”); and
WHEREAS, all things necessary to make such debt securities, when executed by the Company and authenticated and delivered by the Trustee or any Authenticating Agent and issued upon the terms and subject to the conditions hereinafter and in the Original Indenture set forth against payment therefor, the valid, binding and legal obligations of the Company and to make this Supplemental Indenture a valid, binding and legal agreement of the Company, have been done;
NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH that, in order to establish the terms of a series of debt securities, and for and in consideration of the premises and of the covenants contained in the Original Indenture and in this Supplemental Indenture and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, it is mutually covenanted and agreed as follows:

ARTICLE ONE

Definitions and Other
Provisions of General Application

SECTION 101.  Definitions. Each capitalized term that is used herein and is defined in the Original Indenture shall have the meaning specified in the Original Indenture unless such term is otherwise defined herein. The following terms shall have the respective meanings set forth below:

“Business Day” means any day other than a Saturday or Sunday or a day on which commercial banks in state of New York are required or authorized by law or executive order to be closed.
“Capital Stock” means (i) with respect to any Person organized as a Corporation, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interest in (however designated) corporate stock, and (ii) with respect to any Person that is not organized as a Corporation, the partnership, membership or other equity interests or participations in such Person.
“Compound Interest” has the meaning set forth in Section 205(a).
“Coupon Rate” has the meaning set forth in Section 204(a).
“Deferred Interest” has the meaning set forth in Section 205(a).
“DTC” has the meaning set forth in Section 203(b).
“Extension Period” has the meaning set forth in Section 205(a).
“Global Debentures” has the meaning set forth in Section 203(a).
“Indebtedness ranking equally with the Debentures” means Indebtedness, whether outstanding on the date of issuance of the Debentures or thereafter created, assumed or incurred, to the extent the Indebtedness specifically by its terms ranks equally with and not prior to the Debentures in the right of payment upon the happening of the dissolution, winding-up, liquidation or reorganization of the Company. The securing of any Indebtedness otherwise constituting Indebtedness ranking equally with the Debentures will not prevent the Indebtedness from constituting Indebtedness ranking equally with the Debentures.
“Indebtedness ranking junior to the Debentures” means any Indebtedness, whether outstanding on the date of issuance of the Debentures or thereafter created, assumed or incurred, to the extent the Indebtedness by its terms ranks junior to and not equally with or prior to
(i)the Debentures, and

(ii)any other Indebtedness ranking equally with the Debentures,

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in right of payment upon the happening of the dissolution, winding-up, liquidation or reorganization of the Company. The securing of any Indebtedness otherwise constituting Indebtedness ranking junior to the Debentures will not prevent the Indebtedness from constituting Indebtedness ranking junior to the Debentures.
“NYSE” means the New York Stock Exchange.
“Redemption Date” means the date set for Debentures to be redeemed pursuant to the provisions of Section 301 or 302, as applicable.
“Redemption Price” has the meaning set forth in Section 301 or 302, as applicable.
“Rights Plan” means a plan of the Company providing for the issuance by the Company to all holders of its Common Stock of rights entitling the holders thereof to subscribe for or purchase shares of Common Stock or any class or series of preferred stock, which rights (i) are deemed to be transferred with such shares of Common Stock, (ii) are not exercisable and (iii) are also issued in respect of future issuances of Common Stock, in each case until the occurrence of a specified event or events.
“Senior Indebtedness” means all Indebtedness, whether outstanding on the date of issuance of the Debentures or thereafter created, assumed or incurred, except Indebtedness ranking equally with the Debentures or Indebtedness ranking junior to the Debentures; provided, however, that “Senior Indebtedness” of the Company does not include (a) obligations to trade creditors or (b) any indebtedness of the Company to any of its Subsidiaries.  Senior Indebtedness with respect to the Debentures will continue to be Senior Indebtedness with respect to the Debentures and be entitled to the benefits of the subordination provisions irrespective of any amendment, modification or waiver of any term of such Senior Indebtedness.
“Tax Event” means receipt by the Company of an opinion of nationally recognized independent tax counsel experienced in such matters to the effect that, as a result of: 
(i)any amendment to, change or announced proposed change in the laws or regulations of the United States or any of its political subdivisions or taxing authorities affecting taxation,

(ii)any amendment to or change in an interpretation or application of such laws or regulations by any legislative body, court, governmental agency or regulatory authority, or 

(iii)any interpretation or pronouncement that provides for a position with respect to those laws or regulations that differs from the generally accepted position on the date the junior subordinated debentures are issued

which amendment or change becomes effective or proposed change, pronouncement, interpretation, action or decision is announced on or after September 25, 2012, there is more than an insubstantial risk that interest payable on the Debentures is not or within 90 days of the date 

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of the opinion would not be deductible, in whole or in part, by the Company for United States federal income tax purposes.
SECTION 102.  Section References. Each reference to a particular section set forth in this Supplemental Indenture shall, unless the context otherwise requires, refer to this Supplemental Indenture.

ARTICLE TWO

Title and Terms of the Securities; Stated Maturity

SECTION 201.  Title of the Securities; Stated Maturity. This Supplemental Indenture hereby establishes a series of Securities, which shall be known as the Company's “2012 Series C 5.25% Junior Subordinated Debentures due 2062” (referred to herein as the “Debentures”). For purposes of the Original Indenture, the Debentures shall constitute a single series of Securities. The Stated Maturity on which the principal of the Debentures shall be due and payable will be December 1, 2062. 

In the event that the Stated Maturity or any Redemption Date is not a Business Day, then payment of the principal or Redemption Price, respectively, payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date that such principal or Redemption Price otherwise would have been payable.
SECTION 202.  Variations from the Original Indenture. (a) Notwithstanding the provisions of the Original Indenture, the Debentures shall be subordinated to Senior Indebtedness as and to the extent provided in Article Five of this Supplemental Indenture. The provisions relating to defeasance and covenant defeasance in Section 403 of the Original Indenture shall not apply to the Debentures. Section 1009 of the Original Indenture shall not be applicable to the Debentures.

(b)    With respect to the Debentures issued under this Supplemental Indenture, Section 501 of the Original Indenture is hereby replaced in its entirety as follows:

“Event of Default” means any one of the following events (whatever the reason for such Event of Default and whether or not it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):
(1)default in the payment of any interest upon the Debentures when such interest becomes due and payable, and continuance of such default for a period of 30 days, except during an Extension Period in accordance with Section 205; or

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(2)    default in the payment of the principal of the Debentures when they become due and payable at their Maturity; 

(3)    the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency or other similar law or (B) a decree or order appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 60 consecutive days; or
    
(4)    the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the taking of corporate action by the Company in furtherance of any such action.

With respect to the Debentures, (i) references elsewhere in the Original Indenture to Section 501(6) or (7) shall be deemed to be Section 501(3) or (4), respectively, as restated above, and (ii) the provisions of Section 502 of the Original Indenture, without limitation, shall be subject to the subordination provisions relating to the Debentures. With respect to the Debentures, a failure to comply with covenants under the Original Indenture does not constitute an Event of Default.
(c)    The following shall be additional covenants of the Company with respect to the Debentures:

The Company covenants and agrees with each holder of Debentures that neither it nor its majority owned subsidiaries shall
(i)declare or pay any dividends or distributions on the Company's Capital Stock (which includes the Company's common stock and preferred stock);

(ii)redeem, purchase, acquire or make a liquidation payment with respect to any of the Company's Capital Stock;

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(iii)    make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any indebtedness of the Company that ranks equally with or junior in right of payment to the Debentures; or

(iv)    make any guarantee payments with respect to any guarantee by the Company of the indebtedness of any Subsidiary thereof or any other party if such guarantee ranks equally with or junior in right of payment to the Debentures

(other than (a) dividends or distributions payable solely in shares of, or options, warrants or rights to subscribe for or purchase shares of, Common Stock of the Company, (b) any declaration of a dividend in connection with the implementation of a Rights Plan, (c) the issuance of any Capital Stock of the Company under any Rights Plan, or the redemption or repurchase of any rights distributed pursuant to a Rights Plan, (d) reclassification of the Company's Capital Stock or the exchange or the conversion of one class or series of the Company's Capital Stock for another class or series of the Company's Capital Stock, (e) the 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 security being converted or exchanged, and (f) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company's benefit plans for its directors, officers, employees, consultants or advisors or any of the Company's dividend reinvestment plans);
if at such time (x) there shall have occurred and be continuing an Event of Default under the Debentures or any event of which the Company has actual knowledge that is, or with the giving of notice or the lapse of time, or both, would be an Event of Default under the Debentures, and the Company has not taken reasonable steps to cure such Event of Default or (y) the Company shall have given notice of its election to begin an Extension Period as provided in Section 205 and shall not have rescinded such notice or such Extension Period, or any extension thereof, shall have commenced and be continuing.
SECTION 203.  Amount, Form and Denominations; DTC.
(a)The aggregate principal amount of Debentures that may be issued under this Supplemental Indenture is limited to $200,000,000, which amount shall be as set forth in any written Company Order for the authentication and delivery of Debentures (except as provided in Section 301(2) of the Original Indenture). The Debentures shall be issuable only in fully registered form and, as permitted by Section 301 and Section 302 of the Original Indenture, issuable, transferable, exchangeable or redeemable in denominations of $25 and integral multiples thereof. The Debentures will initially be issued in global form (the “Global Debentures”) under a book-entry system, registered in the name of The Depository Trust Company, as depository (“DTC”), or its nominee, which is hereby designated as “Depositary” under the Indenture.

(b)Further to Section 305 of the Original Indenture, any Global Debentures shall be exchangeable for Debentures registered in the name of, and a transfer of a Global Debenture may be registered to, any Person other than the Depositary for such Debenture or its nominee only if 

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(i) such Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Debenture or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either such case, the Company does not appoint a successor Depositary within 90 days thereafter, (ii) the Company executes and delivers to the Trustee a Company Order that such Global Debenture shall be so exchangeable and the transfer thereof so registrable or (iii) there shall have occurred and be continuing an Event of Default or an event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default with respect to the Debentures. Upon the occurrence in respect of a Global Debenture of any or more of the conditions specified in clause (i), (ii) or (iii) of the preceding sentence, such Global Debenture may be exchanged for Debentures registered in the name of, and the transfer of such Global Debenture may be registered to, such Persons (including Persons other than the Depositary and its nominees) as such Depositary, in the case of an exchange, and the Company, in the case of a transfer, shall direct. 

(c)    Each Debenture issued hereunder shall provide that the Company and, by its acceptance of a Debenture or a beneficial interest therein, the holder of, and any Person that acquires a beneficial interest in, such Debenture agree that for United States federal, state and local tax purposes it is intended that such Debenture constitute indebtedness, and agree to treat the Debenture as indebtedness for United States federal income tax purposes.

(d)    The Debentures shall have such other terms and provisions as are set forth in the form of Debenture attached hereto as Exhibit A (all of which incorporated by reference in and made a part of this Supplemental Indenture as if set forth in full at this place).

SECTION 204.  Interest.

(a)Each Debenture will bear interest at the rate of 5.25% per annum (the “Coupon Rate”) from and including the original date of issuance until the principal thereof becomes due and payable, and on any overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on any overdue installment of interest at the Coupon Rate, compounded quarterly, payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year (each, an “Interest Payment Date”), commencing on December 1, 2012 to the Person in whose name such Debenture or any predecessor Debenture is registered at the close of business on the relevant Regular Record Date, which will be the date fifteen calendar days immediately preceding the applicable Interest Payment Date, except as otherwise provided pursuant to the provisions of Section 205 below.

(b)Subject to Section 205, any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on the Regular Record Date, and may either be paid to the person in whose name the Debenture (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the registered Holders of this series of Debentures not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debentures may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Original Indenture. 

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The principal of and the interest on the Debentures shall be payable at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in any coin or currency of the United States of America which at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered Holder at the close of business on the Regular Record Date at such address as shall appear in the Security Register. Notwithstanding anything else contained herein, if a Global Debenture is held in book-entry form through the facilities of the Depositary, payments on the Global Debenture will be made to the Depositary or its nominee in accordance with arrangements then in effect between the Trustee and the Depositary.

(c)    The amount of interest payable for any period will be computed on the basis of a 360-day year of twelve 30-day months. Except as provided in the following sentence, the amount of interest payable for any period shorter than a full quarterly period for which interest is computed, will be computed on the basis of the actual number of days elapsed per 30-day month. In the event that any date on which interest is payable on the Debentures is not a Business Day, then payment of interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date that such interest otherwise would have been payable.

(d)    Maturity or redemption of a Debenture shall cause interest to cease to accrue on such Debenture subject to the Company's obligation to pay interest on overdue amounts in accordance with Section 503 of the Original Indenture and the terms of this Supplemental Indenture and the Debentures.

SECTION 205.  Extension of Interest Payment Period.

(a)    So long as no Event of Default with respect to the Debentures has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Debentures, to defer payments of interest by extending the interest payment period of such Debentures not exceeding 20 consecutive quarters (an “Extension Period”), during which Extension Period no interest shall be due and payable; except that no Extension Period may extend beyond the Stated Maturity. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this Section 205, will bear interest thereon at an annual rate of 5.25% compounded quarterly for each quarter of the Extension Period (“Compound Interest”). At the end of the Extension Period, the Company shall pay all interest accrued and unpaid on the Debentures, including any Compound Interest (together, “Deferred Interest”) that shall be payable to the Holders in whose names the Debentures are registered in the Security Register on the record date for the first Interest Payment Date after the end of the Extension Period. Before the termination of any Extension Period, the Company may shorten or further extend such period, provided that such period together with all such further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Stated Maturity of the Debentures. Upon the termination of any 

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Extension Period and upon the payment of all Deferred Interest then due, the Company may commence a new Extension Period, subject to the foregoing requirements. No interest shall be due and payable during an Extension Period, except at the end thereof, but the Company may prepay at any time all or any portion of the interest accrued during an Extension Period.

(b)    The Company shall give the Holders of the Debentures and the Trustee written notice of its selection of such Extension Period or any shortening or extension thereof at least ten Business Days before the earlier of (x) the next succeeding Interest Payment Date, or (y) if the Debentures are then listed, the date the Company is required to give notice to the NYSE or other applicable self-regulatory organization or to Holders of the Debentures of the record date or the Interest Payment Date. The quarter in which any notice is given pursuant to this paragraph (b) shall be counted as one of the 20 quarters permitted in the maximum Extension Period permitted under paragraph (a).

ARTICLE THREE

Redemption of the Debentures

SECTION 301.  Optional Redemption at Par.

The Debentures are redeemable prior to the Stated Maturity at the option of the Company (i) in whole or in part, from time to time, on or after December 1, 2017 or (ii) at any time prior to December 1, 2017, in whole but not in part, within 90 days following the occurrence and continuation of a Tax Event, in either case at a redemption price (the “Redemption Price”) equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon (including Compound Interest, if any) to, but excluding, the date of redemption.
The Company's right to redeem the Debentures under clause (ii) of the preceding paragraph shall be subject to the condition that if at the time there is available to the Company the opportunity to eliminate a Tax Event, within 90 days following the occurrence and continuation of such Tax Event, by taking some ministerial action (“Ministerial Action”), such as filing a form or making an election, or pursuing some other similar reasonable measure that will have no adverse effect on the Company and will involve no material cost, the Company shall pursue such measures in lieu of redemption; provided further, that the Company shall have no right to redeem the Debentures while the Company is pursuing any such Ministerial Action.
SECTION 302.  Optional Redemption Following a Rating Agency Event.

The Debentures are redeemable prior to the Stated Maturity at the option of the Company prior to December 1, 2017, in whole but not in part, at any time within 90 days after the conclusion of any review or appeal process instituted by the Company following the occurrence and continuation of a Rating Agency Event, at a redemption price (the “Redemption Price”) equal to 102% of the principal amount thereof, plus accrued and unpaid interest thereon (including Compound Interest, if any) to, but excluding, the date of redemption.

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“Rating Agency Event” means a change in the methodology published by any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act that currently publishes a rating for the Company in assigning equity credit to securities such as the Debentures, as such methodology was in effect on September 25, 2012 (the “current criteria”), which change results in (a) shortening the length of time for which such current criteria are scheduled to be in effect with respect to the Debentures, or (b) a lower equity credit being assigned by such rating agency to the Debentures as of the date of such change than the equity credit that would have been assigned to the Debentures as of the date of such change by such rating agency pursuant to its current criteria.
SECTION 303.  Redemption Procedures.

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each Holder of Debentures to be prepaid at its registered address. Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date interest shall cease to accrue on such Debentures called for redemption. If the Debentures are only partially redeemed pursuant to Section 301, the Debentures will be redeemed pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of redemption, the Debentures are registered as a Global Debenture, the Depositary shall determine, in accordance with its procedures, the principal amount of such Debentures held by each Depositary participant to be redeemed. The Redemption Price shall be paid prior to 12:00 noon, New York time, on the date of such redemption or at such earlier time as the Company determines; provided that the Company shall deposit with the Trustee an amount sufficient to pay the Redemption Price by 10:00 a.m., New York time, on the date such Redemption Price is to be paid.
SECTION 304.  No Sinking Fund.

The Debentures are not entitled to the benefit of any sinking fund.
ARTICLE FOUR

Covenant to List on Exchange

SECTION 401.  Listing on an Exchange.

The Company will use its best efforts to list the Debentures on the NYSE. If approved for listing, trading on the NYSE is expected to commence within 30 days after the Debentures are first issued.
ARTICLE FIVE

Subordination of Debentures

SECCTION 501.  Debentures Subordinate to Senior Indebtedness. The Company for itself, its successors and assigns, covenants and agrees, and each Holder of Debentures issued, whether 

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upon original issue or upon transfer or assignment thereof, by its acceptance thereof likewise covenants and agrees, that the payment of principal of and interest on each and all of the Debentures is hereby expressly subordinated, to the extent and in the manner hereinafter in this Article set forth, in right of payment to the prior payment in full of all existing and future Senior Indebtedness of the Company.

SECTION 502.  Payments to Securityholders. (a) (i) In the event and during the continuation of any default beyond any grace period in the payment of principal of or interest on or any other monetary amounts due in respect of any Senior Indebtedness, or in the event that any other event of default with respect to any Senior Indebtedness shall have occurred and be continuing and shall have resulted in such Senior Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable and the Trustee has received written notice from the Company, from holders of Senior Indebtedness or from any trustee, representative or agent therefor, unless and until such event of default shall have been cured, waived or remedied or shall have ceased to exist and such acceleration shall have been rescinded or annulled or all amounts due on such Senior Indebtedness are paid in full in cash or other permitted consideration, or otherwise provided for, then no payment of the principal of or interest on the Debentures shall be made by the Company.

(ii)    Upon any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any dissolution or winding-up or total or partial liquidation or reorganization of the Company, whether voluntary or involuntary or in bankruptcy, insolvency, receivership or other proceedings, all principal, premium, if any, and interest, if any, due upon all Senior Indebtedness shall first be paid in full, or payment thereof provided for in money or money's worth in accordance with its terms, before any payment is made on account of the principal of or interest on the indebtedness evidenced by the Debentures, and upon any such dissolution, winding-up, liquidation or reorganization, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Debentures under the terms of this Supplemental Indenture would be entitled, except for the provisions hereof, shall (subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred by the provisions hereof upon the Senior Indebtedness and the holders thereof with respect to the Debentures and the Holders thereof by a lawful plan of reorganization under applicable bankruptcy law), be paid by the Company or any receiver, trustee in bankruptcy, liquidating trustee, agent or other person making such payment or distribution, or by the Holders of the Debentures if received by them, directly to the holders of Senior Indebtedness (pro rata to each such holder on the basis of the respective amounts of Senior Indebtedness held by such holder) or their representatives, to the extent necessary to pay all Senior Indebtedness (including interest thereon) in full, in money or money's worth, in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the holders of Senior Indebtedness, before any payment or distribution is made to the holders of the indebtedness evidenced by the Debentures. The consolidation of the Company with, or a merger of the Company into, 

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another Person or the liquidation or dissolution of the Company following the conveyance or transfer of its property as an entirety, or substantially as an entirety, to another Person upon the terms and conditions provided in Section 801 of the Original Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this Section 502(a).

(b)    In the event that any payment or distribution of assets of the Company of any kind or character not permitted by Section 502(a), whether in cash, property or securities, shall be received by the Trustee or the Holders of Debentures before all Senior Indebtedness is paid in full, or provision made for such payment, in accordance with its terms, upon written notice to the Trustee or, as the case may be, such Holder, such payment or distribution shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of such Senior Indebtedness or their representative or representatives, or to the Trustee or trustees under any indenture pursuant to which any instruments evidencing any of such Senior Indebtedness may have been issued, as their respective interests may appear, for application to the payment of all Senior Indebtedness remaining unpaid to the extent necessary to pay all such Senior Indebtedness in full in accordance with its terms, after giving effect to any concurrent payment or distribution to the holders of such Senior Indebtedness. Nothing in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 606 of the Original Indenture. In addition, nothing in this Article shall prevent the Company from making or the Trustee from receiving or applying any payment in connection with the redemption of the Debentures if the first publication of notice of such redemption (whether by mail or otherwise in accordance with this Supplemental Indenture) has been made, and the Trustee has received such payment from the Company, prior to the occurrence of any of the contingencies specified in this Section 502.

SECTION 503.  Subrogation to Rights of Holders of Senior Indebtedness. From and after the payment in full of all Senior Indebtedness, the Holders of the Debentures (together with the holders of any other indebtedness of the Company which is subordinate in right of payment to the payment in full of all Senior Indebtedness, which is not subordinate in right of payment to the Debentures and which by its terms grants such right of subrogation to the holder thereof) shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of assets or securities of the Company applicable to the Senior Indebtedness until the Debentures shall be paid in full, and, for the purposes of such subrogation, no such payments or distributions to the holders of Senior Indebtedness of assets or securities, which otherwise would have been payable or distributable to Holders of the Debentures, shall, as between the Company, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Debentures, be deemed to be a payment by the Company to or on account of the Senior Indebtedness, it being understood that the provisions of this Article are and are intended solely for the purpose of defining the relative rights of the Holders of the Debentures, on the one hand, and the holders of the Senior Indebtedness, on the other hand, and nothing contained herein is intended to or shall impair as between the Company, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Debentures, the obligation of the Company, which is unconditional and absolute, to pay to the Holders of the Debentures the principal of and interest on the Debentures as and when the same shall become due and payable in accordance with their terms, or to affect the relative rights of the Holders of the Debentures and creditors of 

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the Company (other than the holders of the Senior Indebtedness), nor shall anything herein or therein prevent the Trustee or the Holders of Debentures from exercising all remedies otherwise permitted by applicable law upon default hereunder with respect to the Debentures subject to the rights of the holders of Senior Indebtedness, under Section 502, to receive cash, property or securities of the Company otherwise payable or deliverable to the Trustee or the Holders of the Debentures or to a representative of such Holders, on their behalf.

Upon any distribution or payment in connection with any proceedings or sale referred to in Section 502(a), the Trustee and each Holder of the Debentures then Outstanding, shall be entitled to rely upon a certificate of the liquidating trustee or agent or other Person making any distribution or payment to the Trustee or such Holder for the purpose of ascertaining the holders of Senior Indebtedness entitled to participate in such payment or distribution, the amount of such Senior Indebtedness or the amount payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article.
SECTION 504.  No Impairment of Subordination. Nothing contained in this Article or elsewhere in this Supplemental Indenture or the Debentures shall prevent at any time the Company from making payments at any time of principal of or interest on the Debentures, except under the conditions described in Section 502 or during the pendency of any proceedings or sale therein referred to.

SECTION 505.  Trustee to Effectuate Subordination. Each Holder of Debentures by his acceptance thereof, whether upon original issue or upon transfer or assignment, authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to effectuate the subordination provisions in this Article and appoints the Trustee his attorney-in-fact for any and all such purposes.

No rights of any present or future holder of any Senior Indebtedness to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Trustee or any Holder of the Debentures then Outstanding, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance by any such holder, with the terms, provisions and covenants of this Supplemental Indenture, regardless of any knowledge thereof which any such holder may have or otherwise be charged with.
Without in any way limiting the generality of the foregoing paragraph, the holders of Senior Indebtedness may, at any time and from time to time, without the consent of or notice to the Holders of the Debentures, without incurring responsibility to the Holders of the Debentures and without impairing or releasing the subordination provided in this Article or the obligations of the Holders of the Debentures to the holders of Senior Indebtedness, do any one or more of the following: (i) change the manner, place or terms of payment of, or renew or alter, Senior Indebtedness, or otherwise amend or supplement in any manner Senior Indebtedness or any instrument evidencing the same or any agreement under which Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Indebtedness; (iii) release any Person liable in any manner for the collection of Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Company and any other Person.

13

SECTION 506.  Notice to Trustee. The Company shall give prompt written notice to the Trustee in the form of an Officers' Certificate of any fact known to the Company which would prohibit the making of any payment of money to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article. Notwithstanding the provisions of this Article or any other provisions of this Supplemental Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article, unless and until the Trustee shall have received at its Corporate Trust Office written notice thereof from the Company or a holder or holders of Senior Indebtedness or from any trustee therefor at least two Business Days prior to such payment date; and, prior to the receipt of any such written notice, the Trustee, shall be entitled in all respects to assume that no such facts exist.

The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee on behalf of such holder) to establish that such notice has been given by a holder of Senior Indebtedness or a trustee on behalf of any such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment.
SECTION 507.  Reliance on Certificate of Liquidating Agent. Upon any payment or distribution referred to in this Article, the Trustee and the Holders of the Debentures shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which a dissolution, winding up or total or partial liquidation or reorganization of the Company is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other Person making such payment or distribution, delivered to the Trustee or to the Holders of the Debentures, for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article.

SECTION 508.  Trustee Not Fiduciary for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute to Holders of the Debentures or to the Company or to any other Person cash, property or securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or otherwise.

SECTION 509.  Priority of Senior Indebtedness Upon Maturity. Upon the maturity of the principal of any Senior Indebtedness by lapse of time, acceleration or otherwise, all matured principal of Senior Indebtedness and interest and premium, if any, thereon shall first be paid in 

14

full before any payment of principal or premium or interest, if any, is made upon the Debentures or before any Debentures can be acquired by the Company.

SECTION 510.  Rights of Trustee as Holder of Senior Indebtedness. The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article with respect to any Senior Indebtedness which may at any time be held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Supplemental Indenture shall deprive the Trustee of any of its rights as such holder.

SECTION 511.  Article Applicable to Paying Agent. In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such case (unless the context shall otherwise require) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article in addition to or in place of the Trustee; provided, however, that this Section shall not apply to the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent.

SECTION 512.  Rights of Holders of Senior Indebtedness Not Impaired. No right of any present or future holder of Senior Indebtedness to enforce the subordination herein shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any noncompliance by the Company with the terms, provisions and covenants of the Indenture, regardless of any knowledge thereof any such holder may have or be otherwise charged with.

ARTICLE SIX

Miscellaneous Provisions

The Trustee makes no undertaking or representations in respect of, and shall not be responsible in any manner whatsoever for and in respect of, the validity or sufficiency of this Supplemental Indenture or the proper authorization or the due execution hereof by the Company or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Company.
Except as expressly amended hereby, the Original Indenture shall continue in full force and effect in accordance with the provisions thereof and the Original Indenture is in all respects hereby ratified and confirmed. This Supplemental Indenture and all its provisions shall be deemed a part of the Original Indenture in the manner and to the extent herein and therein provided.
This Supplemental Indenture and the Debentures shall be governed by, and construed in accordance with, the laws of the State of New York.
This Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

15

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

By: /s/ Daniel G. Brudzynski                    
Name: Daniel G. Brudzynski
Title: Vice President and Treasurer 

ATTEST:

By: /s/ Lisa A. Muschong                
Name: Lisa A. Muschong
Title: Corporate Secretary 

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

By: /s/Alexis M. Johnson                            
Name: Alexis M. Johnson
Title: Authorized Officer

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EXHIBIT A
FORM OF SUBORDINATED DEBENTURE
THIS DEBENTURE IS A GLOBAL DEBENTURE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR DEBENTURES IN CERTIFICATED FORM, THIS DEBENTURE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (“DTC”), TO A NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR. UNLESS THIS DEBENTURE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY DEBENTURE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON 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 A PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
Cusip No.:                                                                                                                                                           $__________
No. R-
DTE ENERGY COMPANY
2012 Series C 5.25% Junior Subordinated Debentures due 2062
DTE ENERGY COMPANY, a corporation duly organized and existing under the laws of the State of Michigan (herein referred to as the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of $________ on December 1, 2062 (“Stated Maturity”), unless previously redeemed, and to pay interest at the rate of 5.25% per annum on said principal sum from the date of issuance until the principal of this Debenture becomes due and payable, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum during such overdue period. Interest on this Debenture will be payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year (each such date, an “Interest Payment Date”), commencing December 1, 2012.
The amount of interest payable for any period shall be computed on the basis of twelve 30-day months and a 360-day year and, for any period shorter than a full quarterly interest period, will be computed on the basis of the actual number of days elapsed per 30-day month. In the event that the Stated Maturity, any Redemption Date, or any date on which interest is payable on this Debenture is not a Business Day, then payment of the amount payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment 

A -1

in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day without reduction in the amount due to such early payment, in each case with the same force and effect as if made on such date. Payments of interest may be deferred by the Company pursuant to the provisions of Article Two of the Supplemental Indenture (as defined herein) to the Indenture (as defined herein). The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date with respect to this Debenture will, as provided in the Indenture, be paid to the person in whose name this Debenture (or one or more Predecessor Securities) is registered at the close of business on the relevant Regular Record Date prior to the relevant Interest Payment Date. Any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such Regular Record Date, and may either be paid to the person in whose name this Debenture (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given to the registered Holders of this series of Debentures not less than ten days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debentures may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. Except as otherwise provided in the Indenture, the principal of and the interest on this Debenture shall be payable at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in any coin or currency of the United States of America which at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the Company by check mailed to the registered Holder at the close of business on the Regular Record Date at such address as shall appear in the Security Register. Notwithstanding anything else contained herein, if this Debenture is a Global Debenture and is held in book-entry form through the facilities of the Depositary, payments on this Debenture will be made to the Depositary or its nominee in accordance with arrangements then in effect between the Trustee and the Depositary.
All references in this Debenture to interest shall include Compound Interest, if any.
This Debenture is one of a duly authorized series of Securities of the Company, designated as the “2012 Series C 5.25% Junior Subordinated Debentures due 2062” (the “Debentures”), limited to an aggregate principal amount of $200,000,000 (except for Debentures authenticated and delivered upon transfer of, or in exchange for, or in lieu of other Debentures), all issued under and pursuant to an Amended and Restated Indenture, dated as of April 9, 2001, as supplemented by the Supplemental Indenture dated as of September 1, 2012, with respect to the Debentures (the “Supplemental Indenture”), as further amended, supplemented or otherwise modified from time to time (as so amended, supplemented or modified, the “Indenture”), duly executed and delivered between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein referred to as the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the registered Holders of the Debentures and of the terms upon which the Debentures are, and are to be, authenticated and delivered.

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Payment of the principal of and interest on this Debenture is, to the extent provided in the Indenture, subordinated and subject in right of payment to the prior payment in full of all existing and future Senior Indebtedness of the Company and this Debenture is issued subject to the provisions of the Indenture with respect thereto. Each registered Holder of this Debenture, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee as his or her attorney-in-fact for any and all such purposes. Each registered Holder hereof, by his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter incurred, and waives reliance by each such Holder upon said provisions.
The Company and, by its acceptance of this Debenture or a beneficial interest herein, the registered Holder of, and any Person that acquires a beneficial interest in, this Debenture agree that for United States federal, state and local tax purposes it is intended that this Debenture constitute indebtedness, and the Holder of, and any Person that acquires a beneficial interest in, this Debenture agrees to treat this Debenture as indebtedness for United States federal income tax purposes.
This Debenture is not subject to repayment at the option of the Holder hereof. Except as provided below, this Debenture is not redeemable by the Company prior to maturity and is not subject to any sinking fund.
This Debenture shall be redeemable prior to its Stated Maturity at the option of the Company (i) in whole or in part, from time to time, on or after December 1, 2017 or (ii) at any time prior to December 1, 2017, in whole but not in part, within 90 days following the occurrence and continuation of a Tax Event, in either case at a redemption price (the “Redemption Price”) equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon (including Compound Interest, if any) to, but excluding, the date of redemption.
This Debenture shall also be redeemable prior to its Stated Maturity at the option of the Company prior to December 1, 2017, in whole but not in part, at any time within 90 days after the conclusion of any review or appeal process instituted by the Company following the occurrence and continuation of a Rating Agency Event, at a redemption price (the “Redemption Price”) equal to 102% of the principal amount thereof, plus accrued and unpaid interest thereon (including Compound Interest, if any) to, but excluding, the date of redemption.
Notice of any redemption will be mailed at least 30 days but not more than 60 days before the redemption date to the Holder hereof at its registered address. Unless the Company defaults in payment of the Redemption Price, on and after the redemption date interest will cease to accrue on the principal amount of this Debenture called for redemption.
If money sufficient to pay the Redemption Price with respect to the principal amount of and accrued interest on the principal amount of this Debenture to be redeemed on the redemption date is deposited with the Trustee on or before the redemption date and certain other conditions 

A -3

are satisfied, then on or after such date, interest will cease to accrue on the principal amount of this Debenture called for redemption.
If the Debentures are only partially redeemed by the Company, the Debentures will be redeemed pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of redemption, the Debentures are registered as a Global Debenture, the Depositary shall determine by lot the principal amount of such Debentures held by each Debenture Holder to be redeemed.
In the event of redemption of this Debenture in part only, a new Debenture or Debentures of this series for the unredeemed portion hereof will be issued in the name of the registered Holder hereof upon the cancellation hereof.
In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing, the principal hereof may be declared, and upon such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture.
The provisions relating to defeasance and covenant defeasance in the Indenture in Section 403 thereof shall not apply to this Debenture.
The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debentures under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority of the aggregate principal amount of all Debentures issued under the Indenture at the time outstanding and affected thereby; provided, however, that no such amendment shall without the consent of the Holder of each Debenture so affected, among other things (i) change the stated maturity of the principal of, or any installment of principal of or interest on any Debentures of any series, or reduce the principal amount thereof, or reduce the rate of interest thereon, or reduce any premium payable upon the redemption thereof, (ii) reduce the aforesaid percentage of the Holders of which are required to consent to any such supplemental indenture or (iii) modify any of the subordination provisions contained herein in a manner adverse to the Holder hereof. The Indenture also contains provisions permitting (i) the registered Holders of at least 66 2/3% in aggregate principal amount of the Securities of all series at the time outstanding affected thereby, on behalf of the registered Holders of the Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and (ii) the registered Holders of not less than a majority in aggregate principal amount of the Securities of any series at the time outstanding affected thereby, on behalf of the registered Holders of the Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the registered Holder of this Debenture (unless revoked as provided in the Indenture) shall be conclusive and binding upon such registered Holder and upon all future registered Holders and owners of this Debenture and of any Debenture issued in exchange hereof or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Debenture.

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No reference herein to the Indenture and no provision of this Debenture or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Debenture at the time and place and at the 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 Debenture is registrable in the Security Register of the Company, upon surrender of this Debenture for registration of transfer at the office or agency of the Company in any place where the principal of and any interest on this Debenture are payable or at such other offices or agencies as the Company may designate, duly endorsed by or accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Security Registrar or any transfer agent duly executed by the registered Holder hereof or his or her attorney duly authorized in writing, and thereupon one or more new Debentures of this series and of like tenor, 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 transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto.
Prior to due presentment for registration of transfer of this Debenture, the Company, the Trustee, any Paying Agent and any Security Registrar may deem and treat the registered Holder hereof as the absolute owner hereof (whether or not this Debenture shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone other than the Security Registrar) for the purpose of receiving payment of or on account of the principal hereof and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Security Registrar shall be affected by any notice to the contrary.
The Debentures of this series are issuable only in fully registered form without coupons in denominations of $25 and any integral multiple thereof. This Global Debenture is exchangeable for Debentures in definitive form only under certain limited circumstances set forth in the Indenture. Debentures of this series so issued are issuable only in registered form without coupons in denominations of $25 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set forth, Debentures of this series are exchangeable for a like aggregate principal amount of Debentures of this series of a different authorized denomination, as requested by the registered Holder surrendering the same.
As set forth in, and subject to the provisions of, the Indenture, no registered owner of any Debenture will have any right to institute any proceeding with respect to the Indenture or for any remedy thereunder, unless (i) such registered owner shall have previously given to the Trustee written notice of a continuing Event of Default with respect to the Debentures of this series, (ii) the registered owners of not less than 25% in principal amount of the Outstanding Debentures of this series shall have made written request, and offered reasonable indemnity, to the Trustee to institute such proceeding as trustee, (iii) the Trustee shall have failed to institute such proceeding within 60 days and (iv) the Trustee shall not have received from the registered owners of a majority in principal amount of the outstanding Debentures of this series a direction inconsistent with such request within such 60-day period; provided, however, that such limitations do not 

A -5

apply to a suit instituted by the registered owner hereof for the enforcement of payment of the principal of or any interest on this Debenture on or after the respective due dates expressed herein.
Unless the Certificate of Authentication hereon has been executed by the Trustee or a duly appointed Authentication Agent referred to herein, this Debenture shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.
The Indenture and this Debenture shall be governed and construed in accordance with the laws of the State of New York.
All terms used in this Debenture which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

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IN WITNESS WHEREOF, the Company has caused this Instrument to be duly executed.
DTE ENERGY COMPANY

By____________________________
Name: 
Title:
Date: 

Attest:

By____________________________
Corporate Secretary
CERTIFICATE OF AUTHENTICATION
This is one of the Debentures of the series of Debentures described in the within mentioned Indenture.
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
  as Trustee

By__________________________
  Authorized Signatory
Date:

A -7

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

______________________________________________________________________________________________________
(Please insert Social Security or Other Identifying Number of Assignee)

_________________________________________________________________________________________________________________
(Please print or type name and address, including zip code of assignee)

the within Debenture and all rights thereunder, hereby irrevocably constituting and appointing such person attorneys to transfer the within Debenture on the books of the Issuer, with full power of substitution in the premises.

Dated:________________________

NOTICE:  The signature of this assignment must correspond with the name as written upon the face of the within Debenture in every particular, without alteration or enlargement or any change whatever and NOTICE: Signature(s) must be guaranteed by a financial institution that is a member of the Securities Transfer Agents Medallion Program (“STAMP”), the Stock Exchange, Inc.  Medallion Signature Program (“MSP”).  When assignment is made by a guardian, trustee, executor or administrator, an officer of a corporation, or anyone in a representative capacity, proof of his or her authority to act must accompany this Debenture.

A -8Exhibit
10.1 Agreement, dated June 28, 2012

FORM
OF AGREEMENT

This
Asset Funding/Operation Agreement (“Agreement”) is entered into this 28th day of June 2012 (“Effective
Date”) by and among USCorp, a Nevada corporation (“USCorp”), US Metals, a Nevada corporation
(“USMetals”), Arizona Gold Corp, a British Columbia corporation (“AGC”), Arizona Gold Founders,
LLC, a California limited liability company (“AGF”), William and Denise DuBarry Hay (collectively “Hay”),
Kaswit, Inc., a California corporation (“Kaswit”) and AGC Corp., an Arizona corporation (“AGCAZ”).
USCorp, USMetals, AGC, AGF, AGCAZ, Hay, Kaswit may hereinafter be referred to individually as “Party” and collectively
as “Parties”.

W
I T N E S S E T H

WHEREAS,
USMetals is a wholly owned subsidiary of USCorp, and USCorp is a publicly traded corporation. 

WHEREAS,
AGCAZ is wholly owned subsidiary of AGC. AGC is a non-public British Columbia corporation with One Hundred Sixty Seven Million
(167,000,000) of authorized common shares. AGF is a corporation owned or controlled by Hay and his family.

WHEREAS,
AGCAZ owns approximately one hundred seventy two (172) mining claims, commonly known as the Twin Peaks Claims, and 104 mining claims
known as the Serendipity Claims, (the “Mining Claims”) a copy of which are attached hereto as Exhibit “A”
and incorporated herein by this reference, on 5,500 acres more or less, and other tangible and intangible personal and intellectual
property consisting of the “Twin Peaks Project” and the “Serendipity Claims” located in West-Central, Arizona
(collectively the “Twin Peaks Project”).

WHEREAS,
AGC and/or AGCAZ own certain assets that are applicable to the Twin Peaks Project. Concurrent with the transfer of the Twin Peaks
Project assets to USMetals, by transfer of all of the stock of AGCAZ, in accordance with this Agreement, AGC will also transfer
all assets that are applicable to the Twin Peaks Project, including cash in the approximate sum of $200,000.00, to USMetals, and
USMetals will concurrently transfer the USCorp Stock to AGC in accordance with the provisions of this Agreement. 

WHEREAS,
AGC desires to transfer the Twin Peaks Project to USMetals by, among the other provisions contained herein, the transfer of 100%
of the stock of AGCAZ to USMetals. 

WHEREAS,
Kaswit has entered into a Consulting Agreement with USCorp dated January 14, 2011 (the “Consulting Agreement”). Pursuant
to such Consulting Agreement, Kaswit has obtained and has exercised warrants (“Warrants”) from USCorp in the amount
of Seven Million (7,000,000) common shares. Kaswit has exchanged those USCorp shares with USMetals for 7,000,000 shares of AGC.
Kaswit and Hay are also parties to a Non-Dilution Agreement with USCorp.

-1-

     

     

    

 

WHEREAS,
both Hay, individually, and Kaswit have exchanged all of their stock in USCorp totaling 14,000,000, including the above 7,000,000
shares in exchange for an equal amount of AGC stock that is held by USMetals. 

WHEREAS,
Hay and/or other investors in AGC have purchased Fourteen Million (14,000,000) shares of AGC treasury stock for a price of 10 cents
U.S. per share.

WHEREAS,
AGF has acquired Twenty Eight Million Eight Hundred Thousand (28,800,000) shares of AGC stock,

WHEREAS,
AGC desires to transfer the stock of AGCAZ to USMetals in exchange for all of the stock of AGC held by USMetals, and 42,800,000
additional shares of USCorp stock as set forth hereinafter. AGC shall thereupon exchange the USCorp stock with all of the shareholders
of AGC for their AGC stock according to Exhibit “B”. AGC shall thereupon be
dissolved.

WHEREAS,
Kaswit and Hay shall exchange their 14,000,000 shares of AGC stock to USMetals in exchange for the 14,000,000 shares of USCorp
stock previously transferred by them to USMetals. USMetals shall transfer those shares of AGC to AGC to be cancelled and retired.

NOW,
THEREFORE, in consideration of the terms and conditions herein contained, the Parties, intending to be legally bound hereby, agree
as follows:

1.                 
INCORPORATION OF RECITALS AND DELIVERY OF STOCK

The
foregoing recitals are hereby incorporated by reference as if fully set forth herein. 

USCorp
agrees to deliver or cause to be delivered the USCorp stock to be delivered to AGC at or shortly after the Closing. The stock shall
be ordered from the transfer agent as soon as this Agreement has been signed by all parties and AGC acknowledges that it is possession
of all of the outstanding shares of AGC, except that held by USMetals.

2.                 
CLOSING DATE

The
transfer of all of the stock of ACGAZ by AGC to USMetals, and the transfer of any and all other Twin Peaks Project assets (the
Transferred Assets as defined below) by AGC to USMetals in exchange for all of USMetals’ AGC stock together with the USCorp
stock set forth above shall be completed on a date that is mutually agreed upon by the Parties, but in no event shall the closing
(the “Closing”) of such transfer take place later than June 30, 2012 (such closing date shall hereinafter be referred
to as the “Closing Date”). 

 

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3.                 
transfer OF twin peaks project ASSETS AND OPERATION OF AGC POST CLOSING

3.1             
Transferred Assets. On the Closing
Date, AGC shall sell, convey, transfer, assign and deliver to USMetals, and USMetals shall acquire from AGC free and clear of all
liens and encumbrances, all right, title and interest of AGC in and to the tangible and intangible assets utilized by AGC in the
Twin Peaks Project, including but not limited to all of the issued and outstanding shares of AGCAZ (collectively, the “Transferred
Assets”). Such Transferred Assets shall include the assets listed on the Schedule of Transferred
Assets attached to this Agreement as Exhibit “C”.
The Transferred Assets shall include all of the Twin Peaks Project tangible and intangible assets including, without limitation,
the Mining Claims, maps, deposits, bonds, assays, all reports and studies, including without limitation drilling reports, environmental
reports, biological reports, cultural reports and studies, feasibility studies, samples, drilling cores, permits, drilling permits,
art work, websites, domain names, trademarks, copyrights and all copyrighted material for “Twin Peaks” that are applicable
to the Twin Peaks Project. . 

3.2             
General Assignment and Assumption and Bill of Sale.
AGC will sign a General Assignment and Assumption and Bill of Sale transferring the Transferred Assets to USMetals in the form
attached to this Agreement as Exhibit “D”.

3.3             
Post Closing Operations of AGC.

3.4.1
Immediately following the Closing and transfer of assets by AGC to USMetals and, if necessary, USCorp, a meeting of the Shareholders
and Directors will be held telephonically, as permitted under Canadian law. USMetals and AGF (if necessary) shall cast their votes
in favor of the dissolution of AGC immediately following the Closing and transfer of the assets set forth herein.

4.                 
No ASSUMPTION OF LIABILITIES

4.1             
No Assumption of Liability. USMetals is not
assuming any liabilities of AGC, and it is expressly understood and agreed that USMetals shall not be liable for any obligations
or liabilities of AGC of any kind or nature, except for liabilities incurred from and after the Closing Date.

4.2             
Costs and Expenses. The parties
hereto shall pay their own costs relating to this transaction, including, but not limited to, their respective attorneys’
and accountants’ fees.

4.3             
No Prorations. The obligations
for property taxes and Mining Claims payments shall not be prorated and USMetals shall assume those obligations at the Closing
Date, provided that, they are paid current. 

 

-3-

     

     

    

 

5.                 
REPRESENTATIONS, WARRANTIES AND COVENANTS OF USMetals, USCorp, AGF AND AGC

As
of the Closing Date, USMetals, USCorp, AGF and AGC represent, warrant and covenant as follows:

5.1             
Authority. Each party has full
power and authority and all licenses, permits, and authorizations necessary to carry on the business in which they are engaged.
Each party has the legal right, power, authority and approval required to enter into, execute and deliver this Agreement, and to
fully perform their obligations under this Agreement . This Agreement, has been duly executed and delivered and are the valid and
binding obligations of each party enforceable in accordance with its terms. 

5.2             
Governmental Consents. The entering
into and consummation of the transactions contemplated by this Agreement, and the Consulting Agreement are not subject to the jurisdiction,
approval or consent of any government or governmental, regulatory, or administrative agency.

5.3             
Litigation and Claims. There are
no claims, causes of action or legal proceedings, threatened or pending, or outstanding orders, judgments, injunctions, awards
or decrees of any court, arbitrator, governmental or regulatory body against or involving any party hereto.

5.4             
Accuracy of Schedules/No Undisclosed Liabilities.
All of the schedules attached to this Agreement and USCorp’s 10K and 10Q filings with the Securities and Exchange Commission
are true, complete and accurate to the best of USMetals’and USCorp’s knowledge and there are no undisclosed liabilities
and no dispute or claim concerning any liability for federal or state taxes applicable to USMetals, USCorp. 

5.5             
Omitted.

5.6             
No Violation of Law. The obligations
and their performance by each of the parties under this Agreement, do and will not violate any applicable federal, state or local
statutes, laws or regulations including without limitation, all applicable securities laws, rules and regulations. Furthermore,
there is no violation of any applicable federal, state or local statutes, laws or regulations including without limitation, all
applicable securities laws, rules and regulations affecting the Transferred Assets and the operations at the Twin Peaks Project.
No event has occurred or circumstances exist that (with or without the passage of time or the giving of notice) may result in a
violation of, conflict with or failure on the part of AGC, USMetals or USCorp to conduct the mining operations in material compliance
with any applicable law. USMetals, USCorp and AGC, have not received notice (whether oral or written) regarding any actual, alleged,
possible, or potential violation of, conflict with, or failure to conduct the mining operations in compliance with any applicable
law or any potential obligation on the part of USMetals, USCorp or AGC to undertake, or to bear all or any portion of the cost
of any remedial action of any nature. 

 

-4-

     

     

    

 

5.7             
Bankruptcy; Insolvency. None of
the following has occurred as of the Closing Date:

(i)
A general assignment by any party hereto for the benefit of creditors;

(ii)
The filing of a voluntary petition in bankruptcy, insolvency, reorganization, or liquidation, or any other petition by any
party hereto under any section or chapter of the Bankruptcy Code or any similar law, whether state, federal, or otherwise relating
to insolvency, reorganization, or liquidation, or for the relief of debtors;

(iii)
The filing of any involuntary petition or other petition against any party hereto under any section or chapter of the Bankruptcy
Code, or any similar law, whether state, federal, or otherwise relating to insolvency, reorganization, or liquidation, or for the
relief of debtors;

(iv)
The appointment by any court of a receiver or similar official to take possession of any party’s assets, or any part
thereof;

(v)
The application by any party hereto or the consent or acquiescence by any party hereto to an application for the appointment
of a custodian, receiver, conservator, trustee, or similar officer for any party hereto or the Transferred Assets, or any part
thereof; or

(vi) The attachment, execution,
or judicial seizure (whether by enforcement of money judgment, by writ or warrant of attachment, or by any other process) of the
Transferred Assets or any part thereof. 

5.8             
Environmental. During the time
USMetals, USCorp, AGC and AGCAZ have owned the Transferred Assets, there has been no litigation brought or, to USMetals’
or USCorp’s actual knowledge, threatened against USMetals, USCorp, AGC or AGCAZ by, or any settlement reached by USMetals
or USCorp with, any party or parties alleging the presence, disposal, release or threatened release of any hazardous materials
on, from or under any of USMetals’, USCorp’s, AGC’s and AGCAZ’properties or facilities.

5.9             
Good Standing. USMetals, USCorp,
AGC, AGF and AGCAZ are or will be at the Closing in good standing with the States of Arizona and Nevada, British Columbia or California
as the case may be.

6.                 
REPRESENTATIONS, WARRANTIES AND COVENANTS OF AGC, AGF AND KASWIT

AGC,
AGF and Kaswit represent, warrant and covenant that as of the Closing Date: 

6.1             
Good Standing and Qualification.
AGC is a British Columbia corporation duly organized, validly existing and in good standing under the laws of British Columbia,
Canada. 

 

-5-

     

     

    

 

6.2             
Authority. AGC has full power to
transfer the stock of AGCAZ and the Transferred Assets and to conduct AGC’s business. AGC, AGF and Kaswit have the legal
right, power, authority and approval required to enter into, execute and deliver this Agreement and to fully their obligations.
The Hay and Kaswit Non-Dilution Agreements and the Consulting Agreement have been or at the Closing will be cancelled, and the
person executing this Agreement, and other documents ancillary to this Agreement is duly authorized to do so. 

6.3             
Legally Binding. AGC, AGF and Kaswit
have the right, power and legal capacity and authority to enter into and perform their obligations under this Agreement. This Agreement
and all schedules and exhibits attached to this Agreement constitute valid, legal and binding obligations of AGC, AGF and/or Kaswit
in accordance with their terms.

6.4             
Authorization. Execution, delivery
and performance of this Agreement has been duly authorized by all necessary corporate/company action and do not conflict with any
provision of any agreement, instrument, judgment, order or law to which AGC, Kaswit or AGF is a party or to which AGC, AGC or Kaswit
is subject or bound.

7.                 
DELIVERIES on the CLOSING Date

On
or before the Closing Date, or as soon thereafter as is practicable, AGC, AGF and Kaswit shall deliver or cause to be delivered
to USMetals the following documents and instruments in exchange for delivery of the items specified:

		(i)	an original, executed counterpart of the
General Assignment and Assumption and Bill of Sale in the form of Exhibit “D” attached
hereto;

(ii)
a duly executed and delivered original stock certificate for all of the issued and outstanding Stock of AGCAZ; and

8.                 
USMETALS’ AND USCORP’s DELIVERIES on the CLOSING Date

On
the Closing Date, USMetals and/or USCorp shall deliver or cause to be delivered to AGC the following documents and instruments
in exchange for delivery of the items specified herein:

		(i)	an original, executed counterpart of the
General Assignment and Assumption and Bill of Sale in the form of Exhibit “D” attached
hereto; 

		(ii)	All of the Stock of AGC held by it for
cancellation, duly endorsed in blank;

		(iii)	Fourteen Million shares of USCorp stock
(7,000,000 each to Kaswit and Hay);

		(iv)	Forty Two Million Eight Hundred Thousand
(42,800,000) shares of USCorp shares to AGC and thereafter to be endorsed and reissued by AGC to the investors set forth on Exhibit
“B”.

 

-6-

9.                 
MISCELLANEOUS

9.1             
Parties. Wherever the context of
this Agreement appears to require it, the singular number shall include the plural and vice versa, and the masculine gender shall
include the feminine and/or neuter gender, and vice versa.

9.2             
Attorneys’ Fees. In the event of any controversy,
claim or dispute between the parties hereto, arising out of or relating to this Agreement or the alleged breach thereof, each party
shall bear its own legal costs and reasonable attorneys' fees, including experts, appeals and the cost of enforcing any judgment
obtained in such action.

9.3             
Severability. Each provision of
this Agreement is independent, separate and divisible, and in the event any provision of this Agreement is found by the final order
of an arbitrator or a court of competent jurisdiction to be invalid, unenforceable or in contravention of any applicable federal
or state law or regulation, such provision shall be deemed not to be a part of this Agreement and shall not affect the validity
or enforceability of the remaining provisions. Nothing contained in this Agreement shall be construed so as to require the commission
of any acts contrary to law, and wherever there is a conflict between any provision of this Agreement and any present or future
law or regulation, such provision shall be limited to the extent necessary to make it comply with such law or regulation.

9.4             
Time of Essence. In all provisions
of this Agreement, time is expressly declared to be of the essence.

9.5             
Effect of Headings, Schedules and Exhibits.
Section headings are included for purposes of convenience only and shall be given no meaning in the interpretation or construction
of this Agreement. All schedules and exhibits to this Agreement are incorporated into and made part of this Agreement as if set
forth in their entirety in this Agreement.

9.6             
Applicable Law. This Agreement
shall be governed by and construed under the laws of the State of California. The State Court of California nearest to Palm Springs,
California or the Federal District Court closet to Palm Springs, California shall be the venue for any such action.

9.7             
Further Cooperation. The parties
hereto agree to execute, deliver and file such other and further documents, instruments and agreements and shall take or cause
to be taken all action, and to do or cause to be done all things, necessary, proper or advisable under applicable laws and regulations
to consummate this Agreement and carry out the purposes of this Agreement. 

9.8             
Counterparts. This Agreement may
be executed in two (2) or more counterparts, each of which shall be deemed an original but all of which together shall constitute
one and the same instrument. Execution and delivery of this Agreement by delivery of a facsimile or electronically recorded copy
(including a .pdf file) bearing a copy of the signature of a party shall constitute a valid and binding execution and delivery
of this Agreement by such party. Such copies shall constitute enforceable original documents.

 

-7-

     

     

    

 

9.9             
Amendment and Waiver. No provision
of this Agreement may be altered, amended or repealed in whole or in part other than by the written consent of all the parties
to this Agreement. No waiver shall be binding unless executed in writing by the party granting the waiver. Neither the failure
nor delay on the part of any party to exercise any right, remedy, power, privilege or provision under this Agreement shall operate
as a waiver of such right, remedy, power, privilege or provision. Waiver of any right, remedy, power, privilege or provision under
this Agreement shall not be deemed or constitute a waiver of any other right, remedy, power, privilege or provision under this
Agreement, whether or not similar, nor shall such waiver constitute a continuing waiver.

9.10         
Notices. All notices, consents,
waivers, and other communications required or permitted under this Agreement shall be in writing and shall be deemed given to a
Party: (a) when delivered to the address designated for such Party below by hand; (b) upon confirmed delivery after being sent
by a nationally recognized overnight courier service (costs prepaid); in each case to the addresses and facsimile numbers designated
below. Any Party may change such Party’s address for purposes of this Agreement by notice given in accordance with this paragraph.
Any notice sent by a Party’s legal counsel shall constitute notice from that Party. 

To:
AGC, AGF, and Kaswit: 

 

c/o
William Hay

____________

____________-3462

 

 

To:
USMetals and USCorp:

 

USCorp

c/o
Robert Dultz

____________

____________

ATTN:
Robert Dultz 

 

Copy
to:Jeffrey M. Proper, Esq.

____________

____________

____________

 

9.11         
Survival of Representations. All
covenants, agreements, indemnifications, representations and warranties made in this Agreement, and in any documents, certificates,
and instruments delivered at the Closing Date pursuant to this Agreement, shall be deemed to be material, and to have been relied
upon by each Party as the case may be, and shall survive the Closing Date.

 

-8-

     

     

    

 

 

9.12         
Successors. This Agreement shall
inure to the benefit of and be binding upon the parties hereto, and their respective personal representatives, shareholders, officers,
directors, heirs, devisees, legatees, successors, transferees, and assigns.

9.13         
Nonassignability. This Agreement
shall not be assignable by either party except with the written consent of the other which may be withheld in such party’s
discretion. Nothing in this Agreement, express or implied, is intended to confer upon any person other than the parties hereto
and their respective heirs, personal representatives, successors and permitted assigns, any rights or remedies by or under or by
reason of this Agreement.

9.14         
Entire Agreement. All prior negotiations
and agreements between the parties hereto relating to the subject matter hereof, are superseded by this Agreement, and there are
no representations, warranties, understandings, or agreements other than those expressly set forth herein. 

9.15         
Construction. This Agreement has
been negotiated at arms length and each party has been given the opportunity to be represented by legal counsel and to the extent
each party has deemed necessary, each party has consulted with independent legal counsel with respect to such party's rights and
obligations under this Agreement. Accordingly, any rule of law (including without limitation California Civil Code Section 1654)
or legal decision that would require interpretation of any ambiguities in this Agreement against the party drafting it is not applicable
and is waived. The provisions of this Agreement shall be interpreted in a reasonable manner to effect the intent of the parties
and the purpose of this Agreement.

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above. 

 

USCorp,
a Nevada corporation

 

 

By: /s/
Robert Dultz

Robert
Dultz, President

 

US
Metals, Inc., a Nevada corporation

 

 

By:
/s/ Robert Dultz

Robert
Dultz, President

 

 

-9-

     

     

    

 

AGC:

 

Arizona
Gold Corp, a British Columbia corporation 

 

 

By: /s/
William Hay

William
Hay, President

 

AGF:

 

Arizona
Gold Founders, LLC, a California limited liability company

 

 

By: /s/
William Hay

William
Hay, its Manager

 

Kaswit:

 

Kaswit,
Inc., a California corporation

 

 

By:/s/
Denise DuBarry Hay

Denise
DuBarry Hay, President 

 

 

By: /s/
William Hay

William
Hay

 

 

By: /s/
Denise DuBarry Hay

Denise
DuBarry Hay

 

 

AGC Corp., an Arizona corporation

 

 

By: /s/ William Hay

William
Hay 

 

-10-

     

     

    

EXHIBIT
A

 

 

See attached
list of Claims

 

	#	Claim Name/Number
	1	WG 1
	2	WG 6
	3	WG 13
	4	HAYS
	5	HAYS 1
	6	ROSE I
	"	ROSE I
	7	ROSE 2
	"	ROSE 2
	8	ROSE 3
	"	ROSE 3
	9	ROSE 4
	10	ROSE 5
	11	ROSE 6
	"	ROSE 6
	12	ROSE 7
	"	ROSE 7
	13	CROSBY 1
	"	CROSBY 1
	14	CROSBY 2
	15	CROSBY 4
	16	CROSBY 5
	17	CROSBY 6
	18	CROSBY 7
	19	CROSBY 10
	"	CROSBY 10
	20	CROSBY 11
	21	CROSBY 12
	22	CROSBY 13
	"	CROSBY 13
	23	CROSBY 14
	"	CROSBY 14
	"	CROSBY 14
	"	CROSBY 14
	24	CROSBY 15
	"	CROSBY 15
	25	CROSBY 16
	26	CROSBY 17
	27	CROSBY 18
	28	CROSBY 19
	29	CROSBY 20
	30	CROSBY 21
	31	ALCAN 1
	"	ALCAN 1
	32	ALCAN 2
	33	ALCAN 3
	34	ALCAN 4
	35	ALCAN 5
	36	ALCAN 6
	37	ALCAN 7
	38	ALCAN 8
	"	ALCAN 8
	39	ALCAN 9
	"	ALCAN 9
	40	ALCAN 10
	41	ALCAN 11
	"	ALCAN 11
	42	ALCAN 12
	"	ALCAN 12
	43	ALCAN 13
	44	ALCAN 27
	"	ALCAN 27
	45	ALCAN 52
	46	ALCAN 53
	47	ALCAN 54
	"	ALCAN 54
	48	ALCAN 55
	"	ALCAN 55
	"	ALCAN 55
	49	ALCAN 56
	50	ALCAN 57
	51	ALCAN 58
	52	ALCAN 59
	53	ALCAN 60
	54	ALCAN 61
	55	ALCAN 83
	56	ALCAN 84
	"	ALCAN 84
	57	ALCAN 85
	58	ALCAN 94
	59	ALCAN 95
	"	ALCAN 95
	60	ALCAN 104
	"	ALCAN 104
	61	ALCAN 105
	"	ALCAN 105
	62	ALCAN 106
	63	ALCAN 113
	64	ALCAN 114
	"	ALCAN 114
	65	ALCAN 115
	"	ALCAN 115
	66	ALCAN 117
	67	ALCAN 118
	"	ALCAN 118
	68	DIANNE
	69	SATURN
	"	SATURN
	70	URANUS
	71	JANUS
	72	PLUTON
	"	PLUTON
	73	ZUES
	74	SCORPIO
	75	PLUTO
	76	VULCAN
	77	MERCURY
	78	JUPITER
	79	NEPTUNE
	80	VENUS
	81	FIVE HOLE
	82	ROSE
	83	SAME
	84	BONANZA
	"	BONANZA
	85	R H KOENIG
	86	NORMA
	"	NORMA
	87	HELEN
	88	TEDDY
	89	ORGA
	90	JOVE
	91	DAUGHTER
	"	DAUGHTER
	92	MOON CHILD
	"	MOON CHILD
	93	JEAN
	94	CASH
	"	CASH
	95	DULTZ
	"	DULTZ
	96	SHARLENE
	97	JONES
	98	SANTA MARIA ONE
	99	SANTA MARIA TWO
	100	SANTA MARIA THREE
	101	SANTA MARIA FOUR
	102	SANTA MARIA FIVE
	103	SANTA MARIA SIX
	104	SANTA MARIA SEVEN
	105	SANTA MARIA EIGHT
	106	SANTA MARIA NINE
	107	SANTA MARIA TEN
	108	SANTA MARIA ELEVEN
	"	SANTA MARIA ELEVEN
	109	SANTA MARIA 12
	"	SANTA MARIA 12
	110	SANTA MARIA 13
	"	SANTA MARIA 13
	111	SANTA MARIA 14
	112	SANTA MARIA 15
	113	SANTA MARIA 16
	"	SANTA MARIA 16
	114	SANTA MARIA 17
	"	SANTA MARIA 17
	115	SANTA MARIA 18
	116	SANTA MARIA 19
	117	SANTA MARIA 20
	"	SANTA MARIA 20
	"	SANTA MARIA 20
	"	SANTA MARIA 20
	118	SANTA MARIA 21
	119	SANTA MARIA 22
	120	SANTA MARIA 23
	121	SANTA MARIA 24
	"	SANTA MARIA 24
	122	SANTA MARIA 25
	123	SANTA MARIA 26
	124	SANTA MARIA 27
	125	SANTA MARIA 28
	"	SANTA MARIA 28
	126	SANTA MARIA 29
	"	SANTA MARIA 29
	127	SANTA MARIA 30
	128	SANTA MARIA 31
	129	SANTA MARIA 32
	"	SANTA MARIA 32
	130	SANTA MARIA 33
	131	SANTA MARIA 34
	132	SANTA MARIA 35
	133	SANTA MARIA 36
	134	SANTA MARIA 37
	135	SANTA MARIA 38
	"	SANTA MARIA 38
	136	SANTA MARIA 39
	"	SANTA MARIA 39
	137	SANTA MARIA 40
	"	SANTA MARIA 40
	138	SANTA MARIA 41
	"	SANTA MARIA 41
	"	SANTA MARIA 41
	139	SANTA MARIA 42
	"	SANTA MARIA 42
	"	SANTA MARIA 42
	"	SANTA MARIA 42
	140	SANTA MARIA 43
	"	SANTA MARIA 43
	141	SANTA MARIA 44
	142	CROSBY EXTENSION #1
	143	CROSBY EXTENSION #2
	144	CROSBY EXTENSION #3
	"	CROSBY EXTENSION #3
	145	CROSBY EXTENSION #4
	"	CROSBY EXTENSION #4
	146	CROSBY EXTENSION #5
	147	CROSBY EXTENSION #6
	148	CROSBY EXTENSION #7
	149	CROSBY EXTENSION #8
	150	HAYES EXTENSION #1
	151	HAYES EXTENSION #2
	152	USMP#1
	153	USMP#2
	154	USMP#3
	155	USMP#4
	156	USMP#5
	157	USMP#6
	158	USMP#7
	159	USMP#8
	160	USML 1
	161	USML 2
	162	USML 3
	163	USML 4
	164	USML 5
	165	USML 6
	166	USML 7
	167	USML 8
	168	USML 9
	169	USML 10
	170	USML 11
	171	USML 12
	172	USML 13
	173	SERENDIPITY 1
	174	SERENDIPITY 2
	175	SERENDIPITY #3
	176	SERENDIPITY #4
	"	SERENDIPITY #4
	177	SERENDIPITY 5
	178	SERENDIPITY #6
	"	SERENDIPITY #6
	179	SERENDIPITY #7
	180	SERENDIPITY #8
	181	SERENDIPITY #9
	182	SERENDIPITY 10
	183	SERENDIPITY 11
	"	SERENDIPITY 11
	184	SERENDIPITY 12
	185	SERENDIPITY 13
	"	SERENDIPITY 13
	186	SERENDIPITY 14
	187	SERENDIPITY #15
	"	SERENDIPITY #15
	188	SERENDIPITY #16
	189	SERENDIPITY #17
	"	SERENDIPITY #17
	190	SERENDIPITY #18
	191	SERENDIPITY #19
	192	SERENDIPITY #20
	193	SERENDIPITY #21
	194	SERENDIPITY #22
	195	SERENDIPITY #23
	196	SERENDIPITY #24
	197	SERENDIPITY #25
	198	SERENDIPITY #26
	199	SERENDIPITY #27
	200	SERENDIPITY #28
	201	SERENDIPITY #29
	202	SERENDIPITY #30
	203	SERENDIPITY #31
	204	SERENDIPITY #32
	205	SERENDIPITY #33
	206	SERENDIPITY #34
	207	SERENDIPITY #35
	208	SERENDIPITY #36
	209	SERENDIPITY #37
	210	SERENDIPITY #38
	211	SERENDIPITY #39
	212	SERENDIPITY #40
	213	SERENDIPITY #41
	214	SERENDIPITY #42
	"	SERENDIPITY #42
	215	SERENDIPITY #43
	"	SERENDIPITY #43
	216	SERENDIPITY #44
	217	SERENDIPITY #45
	"	SERENDIPITY #45
	218	SERENDIPITY #46
	219	SERENDIPITY #47
	"	SERENDIPITY #47
	220	SERENDIPITY #48
	221	SERENDIPITY #49
	"	SERENDIPITY #49
	222	SERENDIPITY #50
	223	SERENDIPITY #51
	"	SERENDIPITY #51
	224	SERENDIPITY #52
	225	SERENDIPITY #53
	"	SERENDIPITY #53
	226	SERENDIPITY #54
	227	SERENDIPITY #55
	"	SERENDIPITY #55
	228	SERENDIPITY #56
	229	SERENDIPITY #57
	"	SERENDIPITY #57
	230	SERENDIPITY #58
	231	SERENDIPITY #59
	"	SERENDIPITY #59
	232	SERENDIPITY #60
	"	SERENDIPITY #60
	233	SERENDIPITY #61
	"	SERENDIPITY #61
	"	SERENDIPITY #61
	"	SERENDIPITY #61
	234	SERENDIPITY #62
	235	SERENDIPITY #63
	236	SERENDIPITY #64
	237	SERENDIPITY #65
	238	SERENDIPITY #66
	239	SERENDIPITY #67
	240	SERENDIPITY #68
	241	SERENDIPITY #69
	242	SERENDIPITY #70
	243	SERENDIPITY #71
	244	SERENDIPITY #72
	245	SERENDIPITY #73
	246	SERENDIPITY #74
	247	SERENDIPITY #75
	248	SERENDIPITY #76
	249	SERENDIPITY #77
	250	SERENDIPITY #78
	"	SERENDIPITY #78
	251	SERENDIPITY #79
	"	SERENDIPITY #79
	252	SERENDIPITY #80
	"	SERENDIPITY #80
	253	SERENDIPITY #81
	"	SERENDIPITY #81
	254	SERENDIPITY #82
	"	SERENDIPITY #82
	255	SERENDIPITY #83
	"	SERENDIPITY #83
	256	SERENDIPITY #84
	"	SERENDIPITY #84
	257	SERENDIPITY #85
	"	SERENDIPITY #85
	258	SERENDIPITY #86
	"	SERENDIPITY #86
	259	SERENDIPITY #87
	"	SERENDIPITY #87
	"	SERENDIPITY #87
	"	SERENDIPITY #87
	260	SERENDIPITY #88
	261	SERENDIPITY #89
	262	SERENDIPITY #90
	263	SERENDIPITY #91
	264	SERENDIPITY #92
	265	SERENDIPITY #93
	266	SERENDIPITY #94
	267	SERENDIPITY #95
	268	SERENDIPITY #96
	"	SERENDIPITY #96
	269	SERENDIPITY #97
	270	SERENDIPITY #98
	"	SERENDIPITY #98
	271	SERENDIPITY #99
	272	SERENDIPITY #100
	"	SERENDIPITY #100
	273	SERENDIPITY #101
	274	SERENDIPITY #102
	"	SERENDIPITY #102
	275	SERENDIPITY #103
	276	SERENDIPITY #104

 

 

     

     

    

EXHIBIT
B

See attached
Shareholder List

 

	Name	Shares
	Arizona Gold Founders:	12,000,000
	William F. Hay:	3,500,000
	Denise DuBarry Hay:	3,500,000
	Kaswit, Inc.	7,000,000
	Robert Swidler (3108783 Canada Inc.):	4,400,000
	Belbas Investments:	6,600,000
	Gladstein Family Limited Partnership:	2,200,000
	Remus Haste and Mary Haste:	1,000,000
	Leroy H. Holt Trust:	1,100,000
	Scott R. Wilson:	2,200,000
	William C. Randal:	1,100,000
	Danijele Todorovic:	1,100,000
	Amir Tuluij:	2,200,000
	Carla Y. Navarro:	2,200,000
	Michael B. Lindley:	700,000
	Bruce Know:	1,100,000
	Elisa Lindley:	1,430,000
	Daniel Daufman:	2,200,000
	Larry Gilman:	1,100,000

 

 

-15-

 

     

     

    

EXHIBIT
C

 

TRANSFERRED
ASSETS

 

The
Transferred Assets of AGC being transferred to USMetals under this Agreement include all tangible and intangible assets
directly and indirectly related to the Twin Peaks Project including, without limitation:

 

a) The Twin Peaks Project
claims by transfer of all the issued and outstanding stock of AGCAZ;

 

b) All maps;

 

c) All deposits and bonds;

 

d) All assays, all reports and studies, including
without limitation drilling reports, environmental reports, biological reports, cultural reports and studies, feasibility studies;

 

e) All available samples and drilling cores;

 

f) All permits, including
drilling permits;

 

g) All art work, websites
and domain names; and

 

h) All trademarks, copyrights
and all copyrighted material for “Twin Peaks”.

 

i)
Cash in the Bank Accounts of AGC and AGCAZ

 

j)
AGC website and domain name 

k)
ATV and Trailer

-16-

 

     

     

    

EXHIBIT
D

GENERAL
ASSIGNMENT AND ASSUMPTION AND BILL OF SALE

 

For
good and valuable consideration, receipt of which is hereby acknowledged, and in accordance with that certain Agreement (“Agreement”),
among USCorp, a Nevada corporation (“USCorp”), USMetals, a Nevada corporation (“USMetals”)
and Arizona Gold Corp, a British Columbia corporation (“AGC”), AGC hereby transfers, assigns and delivers to
USMetals, and USMetals hereby accepts, all of AGC’ right, title and interest in and to the Transferred Assets, including
without limitation those described in Exhibit “C” to the Agreement, in their AS-IS, WHERE-IS condition.
USMetals hereby assumes all obligations in connection with the Transferred Assets, including Assets which are not capable of being
transferred, but are part this Agreement, which are incurred from and after the Closing Date. 

 

This instrument may be
executed in two (2) or more counterparts, each of which shall be deemed an original but all of which together shall constitute
one and the same instrument. Execution and delivery of this instrument by delivery of a facsimile or electronically recorded copy
(including a .pdf file) bearing a copy of the signature of a party shall constitute a valid and binding execution and delivery
of this instrument by such party. Such copies shall constitute enforceable original documents.

 

IN
WITNESS WHEREOF, USMetals, USCorp. and AGC have executed this General Assignment and Assumption and Bill of Sale effective as of
the Closing Date, as defined in the Agreement.

 

Dated:
June 28, 2012

 

 

USMetals,
a Nevada corporation

 

By:
/s/ Robert Dultz

Robert
Dultz, President

 

 

Arizona
Gold Corp, a British Columbia corporation

 

By:/s/ William Hay

William Hay, President

USCorp., a Nevada Corporation

By:
/s/ Robert Dultz

Robert Dultz, President

-17-

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