Document:

First Supplemental Indenture

 Exhibit 4.1 
  
  
 CABOT CORPORATION 
  
  
  
 First Supplemental Indenture

 Dated as of September 24, 2009 
 5.00% Notes due 2016 
  
  
 (First Supplemental to the
Indenture Dated as of September 21, 2009) 
  
  
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 
  
  

 FIRST SUPPLEMENTAL INDENTURE, dated as of September 24, 2009, between Cabot Corporation, a
corporation duly organized and existing under the laws of the State of Delaware (herein called the “Company”), and U.S. Bank National Association, as Trustee (herein called the “Trustee”); 
 RECITALS: 
 WHEREAS, the Company has
heretofore executed and delivered to the Trustee an Indenture, dated as of September 21, 2009 (the “Base Indenture”), providing for the issuance from time to time of the Company’s unsecured notes or other evidences of
indebtedness (herein and therein called the “Securities”), to be issued in one or more series as provided in the Base Indenture; 
 WHEREAS, Section 9.01(7) of the Base Indenture permits the Company and the Trustee to enter into an indenture supplemental to the Base Indenture to establish the form and terms of any series of Securities without notice to or consent
of any Securityholder; 
 WHEREAS, Section 2.01 of the Base Indenture permits the form of Securities of any series to be established in
an indenture supplemental to the Base Indenture; 
 WHEREAS, pursuant to Sections 2.01 and 2.03 of the Base Indenture, the Company desires to
provide for the establishment of a new series of Securities under the Base Indenture, the form and substance of such Securities and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and this First
Supplemental Indenture; 
 WHEREAS, all conditions and requirements necessary to make this First Supplemental Indenture, when executed and
delivered, a valid agreement of the Company, in accordance with its terms, have been performed and filled; 
 NOW, THEREFORE, THIS FIRST
SUPPLEMENTAL INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities established by this First
Supplemental Indenture by the holders thereof (the “Holders”), it is mutually agreed, for the equal and proportionate benefit of all such Holders, as follows: 
 ARTICLE 1 
 DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION 
 Section 1.01. Relation to Base Indenture.
This First Supplemental Indenture constitutes a part of the Base Indenture (the provisions of which, as modified by this First Supplemental Indenture), shall apply to the series of Securities established by this First Supplemental Indenture but
shall not modify, amend or otherwise affect the Base Indenture insofar as it relates to any other series of Securities or modify, amend or 

 
otherwise affect in any manner the terms and conditions of the Securities of any other series. 
 Section 1.02. Definitions. For all purposes of this First Supplemental Indenture, the capitalized terms used herein (i) which are defined in
this Section 1.02 have the respective meanings assigned hereto in this Section 1.02 and (ii) which are defined in the Base Indenture (and which are not defined in this Section 1.02) have the respective meanings assigned thereto
in the Base Indenture. For all purposes of this First Supplemental Indenture: 
 (a) Unless the context otherwise requires, any reference to
an Article or Section refers to an Article or Section, as the case may be, of this First Supplemental Indenture; 
 (b) The words
“herein,” “hereof” and “hereunder” and words of similar import refer to this First Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; and 
 (c) The terms defined in this Section 1.02(c) have the meanings assigned to them in this Section and include the plural as well as the singular.

 “Business Day” is any day, other than (i) a Saturday, Sunday or other day on which banking institutions in The City
of New York are authorized or required by law or executive order to remain closed. 
 “Change of Control” means the
occurrence of any of the following after the date of issuance of the Notes: 
 (1) the direct or indirect sale, lease, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its subsidiaries taken as a whole to any “person” or
“group” (as those terms are used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its subsidiaries; 
 (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange
Act, it being agreed that an employee of the Company or any of its subsidiaries for whom shares are held under an employee stock ownership, employee retirement, employee savings or similar plan and whose shares are voted in accordance with the
instructions of such employee shall not be a member of a “group” (as that term is used in Section 13(d)(3) of the Exchange Act) solely because such employee’s shares are held by a trustee under said plan), other than the Company
or one of its subsidiaries, becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of our Voting Stock representing more than 50% of the voting power of our outstanding
Voting Stock; provided that a merger shall not constitute a “change of control” under this definition if (i) the sole purpose of the merger is the reincorporation of the Company in another state and (ii) the shareholders and the
number of shares of Voting Stock of the Company, 

  

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measured by voting power and number of shares, owned by each of them immediately before and immediately following such merger are identical; 
 (3) the Company consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, the Company, in any such
event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or Voting Stock of such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the
Company’s outstanding Voting Stock immediately prior to such transaction constitutes, or is converted into or exchanged for, Voting Stock representing more than 50% of the voting power of the Voting Stock of the surviving Person immediately
after giving effect to such transaction; 
 (4) during any period of 24 consecutive calendar months, the majority of the members of the Board
of Directors shall no longer be composed of individuals (a) who were members of the Board of Directors on the first day of such period or (b) whose nomination or election (either by a specific vote or by approval of our proxy statement in
which such member was named as a nominee for election as a director) to the Board of Directors was approved by (i) individuals referred to in clause (a) above or (ii) other directors described in this clause (b), in each case
collectively constituting, at the time of such nomination or election, at least a majority of the Board of Directors or, if directors are nominated by a committee of the Board of Directors, constituting at the time of such nomination, at least a
majority of such committee; or 
 (5) the adoption of a plan relating to the liquidation or dissolution of the Company. 
 “Change of Control Offer” has the meaning set forth in Section 3.01. 
 “Change of Control Payment” has the meaning set forth in Section 3.01. 
 “Change of Control Payment Date” has the meaning set forth in Section 3.01. 
 “Change of Control Triggering Event” means, with respect to the Notes, the Notes are rated below Investment Grade by both of the Rating
Agencies on any date during the period (the “Trigger Period”) commencing on the first public announcement by the Company of any Change of Control (or pending Change of Control) and ending 60 days following consummation of such
Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings downgrade); provided that a particular
reduction in rating shall not be deemed to have occurred in respect of a particular Change in Control (and thus shall not result in a Change of Control Triggering Event) if any of the Rating Agencies making the reduction in rating to which this
definition would otherwise apply does not announce or publicly confirm or inform the trustee in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprising of or arising as a result of, or
in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Rating Event). If a Rating Agency is not providing a rating for the Notes at the commencement of any Trigger
Period, the Notes will be deemed to have ceased to be called Investment Grade by such Rating Agency 

  

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during that Trigger Period. Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have occurred in connection with any
particular Change of Control unless and until such Change of Control has actually been consummated. 
 “Interest Payment
Date” has the meaning set forth in Section 2.01(d). 
 “Interest Period” has the meaning set forth in
Section 2.01(d). 
 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any
successor rating category of Moody’s) and a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and the equivalent investment grade credit rating from any replacement Rating Agency or Rating
Agencies selected by the Company under the circumstances permitting us to select a replacement agency and in the manner for selecting a replacement agency, in each case as set forth in the definition of “Rating Agency.” 
 “Maturity Date” has the meaning set forth in 2.01(c). 
 “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors. 
 “Notes” has the meaning set forth in Section 2.01(a). 
 “Rating
Agency” means each of Moody’s and S&P; provided, that if any of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, the
Company may appoint another “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act as a replacement for Moody’s or S&P, or both of them, as the case may be;
provided that the Company shall give notice of such appointment to the Trustee. 
 “Redemption Date”, when used with respect
to any Note, means the date fixed for such redemption by or pursuant to this First Supplemental Indenture. 
 “Redemption
Price”, when used with respect to any Note to be redeemed, means the price at which it is to be redeemed pursuant to this First Supplemental Indenture. 
 “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill Companies, Inc., and its successors. 
 “Voting Stock” of any specified Person as of any date means the capital stock of such Person that is at the time entitled to vote
generally in the election of the board of directors of such Person. 
 “Person” means any individual, corporation,
partnership, limited liability company, business trust, association, joint-stock company, joint venture, trust, 

  

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incorporated or unincorporated organization or government or any agency or political subdivision thereof. 
 ARTICLE 2 
 GENERAL
TERMS AND CONDITIONS OF THE NOTES 
 Section
2.01. Terms of Notes. Pursuant to Sections 2.01 and 2.03 of the Base Indenture, there is hereby established a series of Securities, the terms of which shall be as follows: 
 (a) Designation. The Securities of this series shall be known and designated as the “5.00% Notes due 2016” (the
“Notes”) of the Company. The CUSIP number of the Notes is 127055AG6. 
 (b) Form and Denominations. The Notes will be
issued only in fully registered form, and the authorized denominations of the Notes shall be $2,000 principal amount and any integral multiple of $1,000 above that amount. The Notes will initially be issued in the form of one or more Global
Securities substantially in the form of Annex A attached hereto, with such modifications thereto as may be approved by the authorized officer executing the same. The Notes will be denominated in U.S. Dollars and payments of principal and interest
will be made in U.S. Dollars. 
 (c) Maturity Date. The principal amount of, and all accrued and unpaid interest on, the Notes shall
be payable in full on October 1, 2016, or if such day is not a Business Day, the following Business Day (each, the “Maturity Date”). 
 (d) Interest. Interest payable on any Interest Payment Date (as defined below), the Maturity Date, or if applicable, the Redemption Date shall be the amount accrued from, and including, the immediately
preceding Interest Payment Date in respect of which interest has been paid or duly provided for (or from and including the original issue date of September 24, 2009, if no interest has been paid or duly provided for with respect to the Notes)
but excluding such Interest Payment Date, Maturity Date or, if applicable, Redemption Date, as the case may be (each, an “Interest Period”). The Notes will bear interest at the rate of 5.00% per year from the original issue
date thereof to the Maturity Date. Interest on the Notes shall be payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2010 (each such date, an “Interest Payment Date”). The
amount of interest payable for any semi-annual Interest Period will be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full semi-annual Interest 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 any Interest Payment Date on or before the Maturity Date falls on a day that is not a Business Day, the interest payment due
on that date will be postponed to the next day that is a Business Day and no interest shall accrue as a result of such postponement. 
 In
the event the Maturity Date or a Redemption Date for any Note falls on a day that is not a Business Day, then the related payments of principal, premium, if any, and 

  

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interest may be made on the next succeeding date that is a Business Day (and no additional interest will accumulate on the amount payable for the period from
and after the Maturity Date or a Redemption Date for such Note). Interest due on the Maturity Date or such Redemption Date (in each case, whether or not an Interest Payment Date) will be paid to the Person to whom principal of such Notes is payable.

 (e) To Whom Interest is Payable. Interest shall be payable to the Person in whose name the Notes are registered at the close of
business on the regular record date for such interest, which shall be the March 15 or September 15 (whether or not either is a Business Day), as the case may be, next preceding the Interest Payment Date, or in the event the Notes cease to
be held in the form of one or more Global Securities, at the close of business on the date 15 days prior to that Interest Payment Date, whether or not a Business Day. 
 (f) Sinking Fund; Holder Repurchase Right. The Notes shall not be subject to any sinking fund or analogous provision or be redeemable at the option of the Holders. 
 (g) Forms. The Notes shall be substantially in the form of Annex A attached hereto, with such modifications thereto as may be approved by the
authorized officer executing the same. 
 (h) Registrar, Paying Agent and Place of Payment. The Company hereby appoints U.S. Bank
National Association as Registrar and Paying Agent with respect to the Notes. The Notes may be surrendered for registration of transfer and for exchange at 100 Wall Street, Suite 1600, New York, New York 10005 or at any other office or agency
maintained by the Company for such purpose. The Place of Payment for the Notes shall be the Paying Agent’s office in New York, New York. 
 ARTICLE 3 
 CHANGE OF CONTROL REPURCHASE EVENT 

Section 3.01. Change of Control Repurchase Events. Upon the occurrence of a Change of Control Triggering Event with respect to the Notes,
unless the Company has exercised its right to redeem the Notes by giving irrevocable notice to the Trustee in accordance with this Indenture, each Holder of Notes will have the right to require the Company to purchase all or a portion of such
Holder’s Notes pursuant to the offer described below (the “Change of Control Offer”), at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase (the
“Change of Control Payment”), subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant Interest Payment Date. 
 Within 30 days following the date upon which the Change of Control Triggering Event occurred with respect to the Notes, or at the Company’s option,
prior to any Change of Control but after the public announcement of the pending Change of Control, the Company will be required to send, by first class mail, a notice to each Holder of Notes, with a copy to the Trustee, which notice will govern the
terms of the Change of Control Offer. Such notice shall state, among other things, the purchase date, which must 

  

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be no earlier than 30 days nor later than 60 days from the date such notice is mailed, other than as may be required by law (the “Change of Control
Payment Date”). The notice, if mailed prior to the date of consummation of the Change of Control, will state that the Change of Control Offer is conditioned on the Change of Control being consummated on or prior to the Change of Control
Payment Date. 
 On the Change of Control Payment Date, the Company shall, to the extent lawful: 
  

	 	•	 	 accept or cause a third party to accept for payment all Notes or portions of notes properly tendered pursuant to Change of Control Offer;

  

	 	•	 	 deposit or cause a third party to deposit with the Paying Agent an amount equal to the Change of Control payment in respect of all Notes or portions of notes
properly tendered; and 

  

	 	•	 	 deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of
Notes or portions of Notes being repurchased and that all conditions precedent to the Change of Control Offer and to the repurchase by us of Notes pursuant to the Change of Control Offer have been complied with. 

 The Company shall not be required to make a Change of Control Offer with respect to the Notes if a third party makes such an offer in the manner, at the
times and otherwise in compliance with the requirements for such an offer made by the Company and such third party purchases all the Notes properly tendered and not withdrawn under its offer. 
 The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or
regulations conflict with the Change of Control Offer provisions of the Notes, the Company shall comply with those securities laws and regulations and shall not be deemed to have breached its obligations under this Section 3.01 by virtue of any
such conflict. 
 ARTICLE 4 
 MISCELLANEOUS 
 Section 4.01. Relationship to Existing Base Indenture. The First Supplemental Indenture is a
supplemental indenture within the meaning of the Base Indenture. The Base Indenture, as supplemented and amended by this First Supplemental Indenture, is in all respects ratified, confirmed and approved and, with respect to the Notes, the Base
Indenture, as supplemented and amended by this First Supplemental Indenture, shall be read, taken and construed as one and the same instrument. 
  

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 Section 4.02. Modification of The Existing Base Indenture. Except as expressly modified by this
First Supplemental Indenture, the provisions of the Base Indenture shall govern the terms and conditions of the Notes. 
 Section 4.03.
Governing Law. This instrument shall be governed by and construed in accordance with the laws of the State of New York. 
 Section
4.04. Counterparts. This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

Section 4.05. Trustee Makes No Representation. The recitals contained herein are made by the Company and not by the Trustee, and the Trustee
assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this First Supplemental Indenture (except for its execution thereof and its certificates of authentication of the Notes).

  

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 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, and their
respective corporate seals, if applicable, to be hereunto affixed and attested, all as of the day and year first written above. 
  

			
	CABOT CORPORATION
		
	By:	 	/s/ Eduardo E. Cordeiro
		 	 Name: Eduardo E. Cordeiro
 Title:   Chief
Financial Officer and
             Executive Vice President

 Attest:        /s/ Jane Bell 
 Secretary 
 (SEAL) 
  

			
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	/s/ Beverly A. Freeney
		 	Name: Beverly A. Freeney
		 	Title: Vice President

 Attest:        /s/ Jean Clarke 
 Assistant Vice President 

 ANNEX A 
 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY (AS DEFINED IN THE INDENTURE) OR A NOMINEE OF THE DEPOSITORY. THIS GLOBAL
SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE AND IN PART FOR
SECURITIES IN DEFINITIVE FORM, MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 CABOT CORPORATION 
 5.00% Notes due 2016 
  

			
	No. 1	 	CUSIP NO. 127055AG6
		 	$300,000,000

 Cabot Corporation, a corporation duly incorporated and subsisting under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of THREE HUNDRED MILLION U.S. Dollars (U.S. $300,000,000) on October 1, 2016 and to pay interest thereon from September 24, 2009 or from the most recent Interest Payment Date to which interest has been paid or duly provided for,
semi-annually on April 1 and October 1 in each year, commencing April 1, 2010, at the rate of 5.00% per annum, until the principal hereof is paid or made available for payment. 
 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the
Person in whose name 

  

 A-1 

 
this Note (or one or more predecessor securities) is registered at the close of business on the regular record date for such interest, which shall be the
March 15 or September 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such
regular record date and may either be paid to the Person in whose name this Note (or one or more predecessor securities) is registered at the close of business on a special record date for the payment of such defaulted interest to be fixed by the
Trustee, notice whereof shall be given to Holders of Notes of this series not less than 5 days prior to such special record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on
which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium, if any) and interest on this Note shall be made at the office or agency of the Trustee maintained for that purpose in New York, New York, in such currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts; provided, however, for so long as the Notes are represented in global form by one or more Global Securities, all payments of principal (and premium, if
any) and interest shall be made by wire transfer of immediately available funds to the Depository or its nominee, as the case may be, as the registered owner of the Global Security representing such Notes. In the event that definitive Notes
shall have been issued, all payments of principal (and premium, if any) and interest shall be made by wire transfer of immediately available funds to the accounts of the registered Holders thereof; provided, that the Company may at its option pay
interest by check to the registered address of each Holder of a definitive Note. 
 Reference is hereby made to the further provisions of
this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose. 
  

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

			
	CABOT CORPORATION
		
	By:	 	 
		 	 Name:
 Title:

 [Seal] 
  

			
		
	By:	 	 
		 	 Name:
 Title:

 Dated: 
 This is one of the Securities of the Series designated therein issued under the within mentioned Indenture. 
  

					
		 	 U.S. BANK NATIONAL ASSOCIATION,
     as Trustee

			
		 	By:	 	 
		 		 	 Name:
 Title:

  

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 [Form of Reverse of Note] 
 This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one or
more series under an Indenture, dated as of September 21, 2009 (herein called the “Base Indenture”, which term shall have the meaning assigned to it in such instrument), as supplemented by a First Supplemental Indenture, dated
as of September 24, 2009 (herein called the “First Supplemental Indenture”, and together with the Base Indenture, the “Indenture”), between the Company and U.S. Bank National Association, as Trustee (herein
called the “Trustee”, which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, obligations, duties and immunities
thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate
principal amount to $300,000,000. The Company may at any time issue additional securities under the Indenture in unlimited amounts having the same terms as the Notes so that such additional securities shall be consolidated with the Notes, including
for purposes of voting and redemption; provided that no additional securities of a series may be issued if an Event of Default has occurred and is continuing with respect to such series of securities. Any such additional securities shall, together
with the outstanding Notes, constitute a single series of debt securities under the Indenture. 
 The Notes of this series are subject to
redemption, at the option of the Company, at any time and from time to time, in whole or in part, upon not less than 30 nor more than 60 days’ prior notice mailed to each Holder of Notes to be redeemed at his address as it appears in the
register, on any date prior to their stated maturity at a Redemption Price, plus accrued and unpaid interest to the Redemption Date, equal to the greater of (i) 100% of the principal amount of such Notes to be redeemed or (ii) the sum of
the present values of the remaining scheduled payments of principal and interest thereon to be redeemed that would be due after the related Redemption Date but for such redemption (except that, if such Redemption Date is not an Interest Payment
Date, the amount of the next succeeding schedule interest payment will be reduced by the amount of interest accrued thereon to the Redemption Date), discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate (as defined below), plus 30 basis points; provided that the principal amount of a Note remaining outstanding after redemption in part shall be $2,000 or on an integral multiple of $1,000 in excess thereof.

 “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield
to maturity or interpolated maturity (computed as of the second Business Day immediately preceding such Redemption Date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date. 
 “Comparable Treasury Issue” means the United
States Treasury security selected by an Independent Investment Banker that would be utilized, at the time of 

  

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selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining
term of the Notes. “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 
 “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest of such Reference
Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four such Referenced Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so obtained. 
 “Reference Treasury Dealer” means (i) J.P. Morgan Securities Inc., Banc of America Securities LLC and their respective successors
and two other nationally recognized investment banking firms that are Primary Treasury Dealers specified from time to time by us, except that if any of the foregoing shall cease to be a primary U.S. government securities dealer in the United States
(a “Primary Treasury Dealer”), the Company shall be required to designate as a substitute another nationally recognized investment banking firm as Primary Treasury Dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer at 3:30 p.m., New York City
time, on the third Business Day preceding such Redemption Date. 
 In the event of redemption of this Note in part only, a new Note or Notes
of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 On and after any Redemption Date, interest will cease to accrue on the Notes called for redemption. Prior to any Redemption Date, the Company shall deposit with the Paying Agent money sufficient to pay the Redemption Price of and accrued
interest on the Notes to be redeemed on such date. If the Company is redeeming less than all of the Notes, the Trustee shall select the Notes to be redeemed by such method as the Trustee deems fair and appropriate in accordance with methods
generally used at the time of selection by fiduciaries in similar circumstances. 
 The Indenture contains provisions for defeasance at any
time of the entire indebtedness of this Note and certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due
and payable in the manner and with the effect provided in the Indenture. 
 Subject to certain exceptions, the Indenture or the Notes of any
Series thereunder may be amended or supplemented with the consent of the Holders of at least 66-2/3% in 

  

 A-5 

 
principal amount of the outstanding Notes of each Series to be affected, and compliance in a particular instance with any provisions may be waived with the
consent of the Holders of a majority in principal amount of the Notes of each Series affected. Without the consent of any Holder, the Indenture or this Note may be amended or supplemented to: (i) cure any ambiguity, omission, defect or
inconsistency or make other formal changes, (ii) to comply with Article Four or Five of the Indenture, (iii) to provide for uncertificated Notes in addition to or in place of certificated Notes, (iv) to add to the covenants of the
Company or to add any additional Events of Default for the benefit of all or any Series of Notes, (v) to provide for the issuance of Notes in bearer form and/or coupon form, (vi) to add or change any provisions of the Indenture necessary
to provide for or facilitate the administration of the trusts under the Indenture by more than one Trustee, (vii) to establish the form or terms of the Notes of any Series pursuant to Section 2.01 of the Indenture, or (viii) to make
any change that does not adversely affect the rights of any Holder, provided that, none of such changes shall adversely affect the rights of any Holder. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Note may pursue a remedy with respect to this Indenture or the Notes of that Series only if (i) the Holder gives to the Trustee
written notice of a continuing Event of Default (ii) the Holders of at least 25% in principal amount of the outstanding Notes of that Series make a written request to the Trustee to pursue the remedy; (iii) such Holder or Holders offer to
the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense; (iv) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and (v) during such 60-day
period the Holders of a majority in principal amount of the outstanding Notes of that Series do not give the Trustee a direction inconsistent with the request. The foregoing shall not apply to any suit instituted by the Holder of this Note for the
enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No
reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Note at the
times, place and rate, and in the currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Note is registrable in the Registrar’s books, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this
Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon
one or more new 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. 
 The Notes of this series are issuable only in registered form in denominations of $2,000 and any integral multiple of $1,000 thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Notes of this Series are exchangeable for a 

  

 A-6 

 
like aggregate principal amount of Notes of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the
same. 
 No service charge shall be made to a Holder for any such registration of transfer or exchange, but the Company may require payment
of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Note
for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the
Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Note which are defined in the
Indenture shall have the meanings assigned to them in the Indenture. 
  

 A-7Fourth Supplemental Indenture

 Exhibit 4.1 
  
  
  
 BURLINGTON NORTHERN SANTA FE CORPORATION 
 and

 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 Trustee 
  
  
 FOURTH SUPPLEMENTAL INDENTURE

 Dated as of September 24, 2009 
 to 
 INDENTURE 
 Dated
as of December 1, 1995 
  
  
 4.700% Notes due October 1, 2019 
  
  
  

 TABLE OF CONTENTS 
  

			
	 	  	Page
	 ARTICLE ONE
 DEFINITIONS
	  	2
		
	 Section 1.01 Definition of Terms
	  	2
		
	 ARTICLE TWO
	  	
	 GENERAL TERMS AND CONDITIONS OF THE NOTES
	  	2
		
	 Section 2.01 Designation and Principal Amount
	  	2
	 Section 2.02 Maturity
	  	2
	 Section 2.03 Further Issues
	  	2
	 Section 2.04 Form and Payment
	  	2
	 Section 2.05 Global Securities
	  	3
	 Section 2.06 Definitive Form
	  	3
	 Section 2.07 Interest
	  	3
	 Section 2.08 Authorized Denominations
	  	3
	 Section 2.09 Redemption
	  	4
	 Section 2.10 Change of Control
	  	5
	 Section 2.11 Appointment of Agents
	  	8
		
	 ARTICLE THREE
	  	
	 FORM OF NOTES
	  	8
		
	 Section 3.01 Form of Notes
	  	8
		
	 ARTICLE FOUR
	  	
	 ORIGINAL ISSUE OF NOTES
	  	8
		
	 Section 4.01 Original Issue of Notes
	  	8
		
	 ARTICLE FIVE
	  	
	 MISCELLANEOUS
	  	8
		
	 Section 5.01 Ratification of Indenture
	  	8
	 Section 5.02 Trustee Not Responsible for Recitals
	  	8
	 Section 5.03 Governing Law
	  	8
	 Section 5.04 Separability
	  	9
	 Section 5.05 Counterparts
	  	9
	 EXHIBIT A Form of Notes
	  	

 FOURTH SUPPLEMENTAL INDENTURE, dated as of September 24, 2009 (this “Supplemental
Indenture”), between Burlington Northern Santa Fe Corporation, a corporation duly organized and existing under the laws of the State of Delaware, having its principal office at 2650 Lou Menk Drive, Fort Worth, Texas 76131-2830 (the
“Company”), and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), a national banking association, as successor in interest to J.P. Morgan Trust Company, National Association, as
successor in interest to Bank One Trust Company, N.A., as successor in interest to The First National Bank of Chicago, as trustee (the “Trustee”). 
 WHEREAS, the Company executed and delivered the indenture, dated as of December 1, 1995, to the Trustee (as heretofore supplemented, the “Indenture”), to provide for the issuance of the Company’s
debentures, notes or other evidences of indebtedness (the “Securities”), to be issued in one or more series; 
 WHEREAS, pursuant
to the terms of the Indenture, the Company desires to provide for the establishment of a new series of its notes under the Indenture to be known as its “4.700% Notes due October 1, 2019” (the “Notes”), the form and substance
of such series and the terms, provisions and conditions thereof to be set forth as provided in the Indenture and this Supplemental Indenture; 
 WHEREAS, the Board of Directors of the Company, pursuant to the resolutions duly adopted on February 13, 2009, has duly authorized the issuance of the Notes, and has authorized the proper officers of the Company to execute any and all
appropriate documents necessary or appropriate to effect each such issuance; 
 WHEREAS, this Supplemental Indenture is being entered into
pursuant to the provisions of Section 901(7) of the Indenture; 
 WHEREAS, the Company has requested that the Trustee execute and
deliver this Supplemental Indenture; and 
 WHEREAS, all things necessary to make this Supplemental Indenture a valid agreement of the
Company, in accordance with its terms, and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this Supplemental
Indenture has been duly authorized in all respects; 

 NOW THEREFORE, in consideration of the premises and the purchase and acceptance of the Notes by the
Holders thereof, and for the purpose of setting forth, as provided in the Indenture, the form and terms of the Notes, the Company covenants and agrees with the Trustee, as follows: 
 ARTICLE ONE 
 DEFINITIONS 
 Section 1.01 Definition of Terms. 
 Unless the context otherwise requires: 
 (a) each term defined in the Indenture has the same meaning when used in this Supplemental Indenture; 
 (b) the singular includes the plural and vice versa; and 
 (c) headings are for convenience of reference only and do not affect interpretation. 
 ARTICLE TWO

 GENERAL TERMS AND CONDITIONS OF THE NOTES 
 Section 2.01 Designation and Principal Amount. 
 There is hereby authorized and established a series of Securities under
the Indenture, designated as the “4.700% Notes due October 1, 2019”, which is not limited in aggregate principal amount. The aggregate principal amount of the Notes to be issued shall be as set forth in any Company Order for the
authentication and delivery of the Notes, pursuant to Section 303 of the Indenture. 
 Section 2.02 Maturity. 
 The Stated Maturity of principal for the Notes will be October 1, 2019. 
 Section 2.03 Further Issues. 
 The Company may from time to time, without the consent of the
Holders of the Notes, issue additional notes of that series. Any such additional notes will have the same ranking, interest rate, maturity date and other terms as the Notes, except for the issue date and, if applicable, the initial interest accrual
date and the initial Interest Payment Date. Any such additional notes, together with the Notes herein provided for, will constitute a single series of Securities under the Indenture. 
 Section 2.04 Form and Payment. 
 Payment of the principal of (and premium, if any) and interest
on the Notes will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public and 

  

 -2- 

 
private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register. 
 Section 2.05 Global Securities. 
 Upon the original issuance, the Notes will be represented by one or more Global Securities registered in the name of Cede & Co., the nominee of
The Depository Trust Company (“DTC”). The Company will issue the Notes in denominations of $2,000 and integral multiples of $1,000 in excess thereof and will deposit the Global Securities with DTC or its custodian and register the Global
Securities in the name of Cede & Co. DTC shall be the initial Depositary for the Notes. 
 Section 2.06 Definitive Form. 
 If (a) (i) the Depositary is at any time unwilling or unable to continue as depositary for the Notes or (ii) the Depositary has ceased to
be a clearing agency registered under the Exchange Act, and in either case a successor Depositary is not appointed by the Company within 90 days of notice thereof, (b) an Event of Default has occurred with regard to the Notes and has not been
cured or waived, or (c) the Company at any time and in its sole discretion and subject to the procedures of the Depositary determines not to have the Notes represented by Global Securities, the Company may issue the Notes in definitive form in
exchange for such Global Securities. In any such instance, an owner of a beneficial interest in Notes will be entitled to physical delivery in definitive form of Notes, equal in principal amount to such beneficial interest and to have Notes
registered in its name as shall be established in a Company Order. 
 Section 2.07 Interest. 
 The Notes will bear interest (computed on the basis of a 360-day year consisting of twelve 30-day months) from September 24, 2009 at the rate of
4.700% per annum, payable semiannually; interest payable on each Interest Payment Date will include interest accrued from September 24, 2009, or from the most recent Interest Payment Date to which interest has been paid or duly provided
for; the Interest Payment Dates on which such interest shall be payable are April 1 and October 1, commencing on April 1, 2010; and the Regular Record Date for the interest payable on any Interest Payment Date is the close of business
on the March 15 or September 15, as the case may be, next preceding the relevant Interest Payment Date, whether or not that day is a Business Day. 
 Section 2.08 Authorized Denominations. 
 The Notes shall be issuable in denominations of $2,000 and integral multiples
of $1,000 in excess thereof. 
  

 -3- 

 Section 2.09 Redemption. 
 The Notes are subject to redemption upon not less than 30 and not more than 60 days’ notice by mail, at any time, as a whole or in part, at the election of the Company, at a Redemption Price equal to the greater
of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such interest accrued as of the
Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 25 basis points, plus in either case any accrued and unpaid interest
thereon to the Redemption Date. The Independent Investment Banker (as defined below) will calculate the Redemption Price. 
 “Treasury
Rate” means, with respect to any Redemption Date, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
 “Comparable Treasury Issue” means the United
States Treasury security selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Notes that would be used, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity with the remaining term of the Notes. 
 “Comparable Treasury Price”
means, with respect to any Redemption Date, (i) the average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Independent
Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent
Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as
a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at 5:00 p.m. on the third Business Day preceding such Redemption Date. 
 “Reference Treasury Dealer” means each of Barclays Capital Inc., Goldman, Sachs & Co. and a Primary Treasury Dealer (as defined below)
selected by Wells Fargo Securities, LLC, and their respective successors and one other nationally recognized investment banking firm designated by the Company that is a primary U.S. Government securities dealer in New York City (a “Primary
Treasury Dealer”); provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer. 
  

 -4- 

 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 the Notes to be redeemed. Notwithstanding Section 1104 of the Indenture, such notice need not set forth the Redemption Price but only the manner of calculation thereof. The Company shall give the Trustee notice of the
Redemption Price promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation. 
 Unless the
Company defaults in payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on the Notes or portions thereof called for redemption. 
 Section 2.10 Change of Control. 
 (a) Upon the occurrence of a Change of Control Repurchase
Event, unless the Company has exercised its right to redeem all Notes in accordance with the redemption terms as set forth in the Notes by giving notice of such redemption to the Holders of the Notes pursuant to Section 1104 of the Indenture
prior to the Change of Control Repurchase Event, the Company shall make an irrevocable offer to each Holder of Notes to repurchase all or any part (in integral multiples of $1,000) of such Holder’s Notes at a repurchase price in cash equal to
101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but not including, the date of repurchase (the “Repurchase Price”). 
 (b) Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control, but in either case,
after the public announcement of the transaction that constitutes or may constitute the Change of Control, the Company shall mail to each Holder of Notes, with a copy to the Trustee, a notice: 
 (i) describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event; 
 (ii) offering to repurchase all Notes tendered; 
 (iii) setting forth the payment date for the repurchase of the Notes, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed (the “Repurchase Date”); 
 (iv) if mailed prior to the date of consummation of the Change of Control, stating that the offer to repurchase is conditioned on a Change of Control
Repurchase Event occurring on or prior to the Repurchase Date; 
 (v) disclosing that any Note not tendered for repurchase will continue to
accrue interest; and 
  

 -5- 

 (vi) specifying the procedures for tendering Notes. 
 (c) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Section 2.10, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 2.10 by virtue of such conflict. 
 (d) On the Repurchase Date following a Change of Control Repurchase Event, the Company shall, to the extent lawful: 
 (i) accept for payment all Notes or portions thereof properly tendered pursuant to such offer; 
 (ii) deposit with the Trustee an amount equal to the aggregate Repurchase Price in respect of all Notes or portions thereof properly tendered; and

 (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate of the
Company stating the aggregate principal amount of Notes or portions thereof being repurchased by the Company. 
 (e) The Trustee will
promptly mail to each Holder of Notes properly tendered, the Repurchase Price for such Notes, and the Trustee, upon the execution and delivery by the Company of such Notes, will promptly authenticate and cause to be transferred by book-entry to each
Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered; provided that each new Note will be in a principal amount of a minimum denomination of $2,000 and an integral multiple of $1,000 in excess thereof.

 (f) The Company shall not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party
makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer. 
 (g) Solely for purposes of this Section 2.10 in connection with the Notes, the following terms shall have the following meanings: 
 “Below Investment Grade Ratings Event” means that on any day within the 60-day period (which period shall be extended so long as the rating of
the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (i) the occurrence of a Change of Control; or (ii) public notice of the occurrence of a Change of Control or
the intention by the Company to effect a Change of 

  

 -6- 

 
Control, the Notes are rated below Investment Grade by each of the Rating Agencies. Notwithstanding the foregoing, a Below Investment Grade Ratings Event
otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Ratings Event for purposes of the definition of
Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing that the reduction was the
result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of such ratings
reduction). 
 “Change of Control” means the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act), other than the Company, its Subsidiaries, or the Company’s or such Subsidiaries’
employee benefit plans, becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the combined voting power of the Company’s Voting Stock or other Voting Stock into
which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed measured by voting power rather than number of shares. 
 “Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Ratings Event. 
 “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor ratings category of Moody’s); a rating of BBB- or better by S&P (or its equivalent under
any successor ratings category of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company. 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Rating Agency” means (a) each of Moody’s and S&P; and (b) if either of Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for
reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company and as certified by a resolution of the
Company’s board of directors as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a division of McGraw-Hill, Inc. 
 “Voting
Stock” of any specified “person” (as that term is used in Section 13(d)(3) of the Exchange Act) as of any date means the capital stock of such person that is at the time entitled to vote generally in the election of the board of
directors of such person. 
  

 -7- 

 Section 2.11 Appointment of Agents. 
 The Trustee will initially be the Security Registrar and Paying Agent for the Notes and will act as such only at its corporate trust offices in New York,
New York. 
 ARTICLE THREE 
 FORM
OF NOTES 
 Section 3.01 Form of Notes. 
 The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be substantially in the form set forth in Exhibit A hereto. 
 ARTICLE FOUR 
 ORIGINAL ISSUE OF NOTES 
 Section 4.01 Original Issue of Notes. 
 The Notes may, upon execution of this Supplemental
Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon Company Order, authenticate and deliver such Notes as in such Company Order provided. 
 ARTICLE FIVE 
 MISCELLANEOUS 
 Section 5.01 Ratification of Indenture. 
 The
Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided; provided that
the provisions of this Supplemental Indenture apply solely with respect to the Notes. 
 Section 5.02 Trustee Not Responsible for Recitals.

 The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness
thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 
 Section 5.03 Governing Law.

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

  

 -8- 

 Section 5.04 Separability. 
 In case any one or more of the provisions contained in this Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Supplemental Indenture or of the Notes, but this Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained
herein or therein. 
 Section 5.05 Counterparts. 
 This Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 
  

 -9- 

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

			
	BURLINGTON NORTHERN SANTA FE CORPORATION
		
	By:	 	 /s/ Julie A. Piggott

	Name:	 	Julie A. Piggott
	Title:	 	Vice President – Finance and Treasurer

  

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

	Name:	 	Rafael Martinez
	Title:	 	Senior Associate

  

 -10- 

 EXHIBIT A 
 FORM OF NOTES 

 BURLINGTON NORTHERN SANTA FE
CORPORATION 
 4.700% NOTE DUE OCTOBER 1, 2019 
  

			
	REGISTERED	 	$
	No. R-	 	CUSIP No. 12189TBC7

 THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND
IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.
THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR
A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR
IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED
CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 BURLINGTON
NORTHERN SANTA FE CORPORATION, a corporation duly organized and existing under the laws of Delaware (herein called 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 October 1, 2019, and to pay interest thereon from September 24,
2009 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April 1 and October 1 in each year, commencing April 1, 2010, at the rate of 4.700% per annum, until the
principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the March 15 or September 15 (whether or not a Business Day), as the case may be, next preceding such Interest
Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior
to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture. 
 Payment of the principal of (and premium, if any) and interest on this Security
will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

					
	Dated:	 	BURLINGTON NORTHERN SANTA FE CORPORATION
			
		 	By	 	  

		 		 	Julie A. Piggott
		 		 	Vice President – Finance

  

	
	Attest:
	
	  

	Jeffrey T. Williams
	Assistant Secretary

 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
 Dated: 
  

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

		 	Authorized Signatory

 [REVERSE OF NOTE] 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of December 1,
1995, between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), as successor to J.P. Morgan Trust Company, National Association, as successor in interest to Bank One Trust
Company, N.A., as successor to The First National Bank of Chicago, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), as supplemented by the Fourth Supplemental Indenture, dated as of
September 24, 2009, between the Company and the Trustee (herein called the “Indenture”, which term shall have the meaning assigned to it in such instrument), and reference is hereby made to the Indenture for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one
of the series designated on the face hereof, initially limited in the aggregate principal amount of $750,000,000. The Company may, without the consent of the Holders of the Securities of this series, issue additional Securities of this series and
thereby increase such principal amount in the future, on the same terms and conditions and with the same CUSIP number as this Security, except as provided in said Fourth Supplemental Indenture. 
 The Securities of this series are subject to redemption upon not less than 30 and not more than 60 days’ notice by mail, at any time, as a whole or
in part, at the election of the Company, at a Redemption Price equal to the greater of (i) 100% of the principal amount to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest
thereon (not including any portion of such interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in said
Fourth Supplemental Indenture), plus 25 basis points, plus in either case any accrued and unpaid interest thereon to the Redemption Date. 
 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder, upon the cancellation hereof. 
 Upon the occurrence of a Change of Control Repurchase Event (as defined in said Fourth Supplemental Indenture), unless the Company has exercised its
right of redemption as described above by giving notice of such redemption to the Holders of the Securities of this series pursuant to Section 1104 of the Indenture prior to the Change of Control Repurchase Event, each Holder of Securities of
this series shall have the right to require the Company to repurchase all or any part (in integral multiples of $1,000) of such Holder’s Securities pursuant to the Change of Control notice as provided in, and subject to the terms of, said
Fourth Supplemental Indenture at a purchase price in cash equal to 101% of the aggregate principal amount of the Securities of this series repurchased, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase.

 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security
or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided
in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of
the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not
have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing
Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction
inconsistent with such request, and the Trustee shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this
Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein (or in the case of a redemption on or after the Redemption Date). 
 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this
Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities
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. 
 The Securities of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain
limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.

 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration
of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security is overdue, and neither the Company,
the Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Security which are defined in the
Indenture shall have the meanings assigned to them in the Indenture.

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