Document:

First Amended and Restated Custodian Agreement

 Exhibit 10.1 

JPMorgan Chase Bank N.A, London Branch 

and 
 The Bank
of New York Mellon 
  
  

FIRST AMENDED AND RESTATED 

CUSTODIAN AGREEMENT 
  

 

 THIS AGREEMENT is made on September 2, 2010 

BETWEEN 
  

	(1)	JPMorgan Chase Bank N.A, London Branch, a company incorporated with limited liability as a National Banking Association, whose principal London office is at 125 London
Wall, London EC2Y 5AJ (“we” or “us”); and 

  

	(2)	 The Bank of New York Mellon, a banking corporation organized under the laws of the State of New York, whose principal place of business is at 101
Barclay Street, New York, New York 10286, United States of America, in its capacity as trustee of the iShares®
Gold Trust, formerly known as the iShares®
COMEX® Gold Trust (“Trust”) (in such capacity “you”).

 INTRODUCTION 

We have agreed, pursuant to the Custodian Agreement between you and us dated July 1, 2010 (the “Original Custodian Agreement”), to
open and maintain for you the Account (as defined below) and to provide other services to you in connection with the Account. This agreement sets out the terms under which we will provide those services to you and the arrangements which will apply
in connection with those services. 
 IT IS AGREED AS FOLLOWS 

 

	1.	INTERPRETATION 

  

	 	1.1	Definitions: In this Agreement: 

“Account” means the account constituted by the Allocated Account and the Unallocated Account. 

“Account Balance” means, in relation to the Account, all your rights to and interest in the balance from time to time on
that Account. 
 “Allocated Account” means the sub-account maintained by us in your name recording the amount of
Bullion received and held by us for you on an allocated basis. 
 “Availability Date” means the Business Day on
which you wish to transfer or deliver Gold to us for deposit into the Account. 
 “BNYM” means Bank of New York
Mellon, a banking corporation organized under the laws of the State of New York. 
 “Bullion” means any Gold
held by us or any Sub-Custodian in the Allocated Account from time to time. 
 “Business Day” means a Custodian
Day (as defined in the Procedures). 
 “COMEX” means the designated contract market on gold futures contracts
operated by Commodity Exchange, Inc., a subsidiary of New York Mercantile Exchange, Inc. 
  

 - 1 - 

 “COMEX Gold” means gold that would be eligible for delivery in settlement
of a COMEX gold futures contract in accordance with COMEX Rules. 
 “COMEX Rules” means the rules of the COMEX
applicable to trading, delivery specifications, and settlement of gold futures contracts. 
 “Customs” means HM
Revenue and Customs. 
 “eBTS” or “Website” means the electronic Bullion Transfer System
website developed by us. 
 “Fees” means the fees and charges referred to in clause 10.1 of this Agreement.

 “Gold” means COMEX Gold or LBMA Gold. 

“LBMA” means the London Bullion Market Association or its successors. 

“LBMA Gold” means gold that meets the requirements of “good delivery” under the rules of the LBMA. 

“HMRC Agreement” means the agreement between Customs and the LBMA in relation to supplies of bullion (as set out in
Section 1 of Customs’ Notice 700/57/04— Administrative agreements entered into with trade bodies). 

“Ounce” means a troy ounce of Gold. 

“Original Custodian Agreement” has the meaning set forth in the Introduction. 

“Procedures” means the document entitled
“iShares® Gold Trust Creation and Redemption Procedures” attached as Schedule 1 (as amended from time
to time). 
 “Rules” means the rules, regulations, practices and customs of the LBMA or COMEX, as applicable,
the Bank of England and such other regulatory authority or other body as shall affect the activities contemplated by this Agreement. 

“Sub-Custodian” means a sub-custodian, agent or depository (including an entity within our corporate group), appointed by
us to perform any of our duties under this Agreement including the custody and safekeeping of Bullion. 
 “Unallocated
Account” means the sub-account maintained by us in your name recording the amount of Gold which either we or you, as the case may be, have a right to call upon the other party to deliver to it. 

“VAT” means value added tax as imposed by the VATA (as amended or reenacted from time to time) and legislation
supplemental thereto and any other tax (whether imposed in the United Kingdom in substitution thereof or in addition thereto or elsewhere) of a similar fiscal nature. 

“VAT Group” means a group for the purposes of the VAT Grouping Legislation. 

“VAT Grouping Legislation” means: 

 

 - 2 - 

 (a) sections 43 to 43D (inclusive) of VATA; and 

(b) the Value Added Tax (Groups: eligibility) Order 2004 (SI 2004/1931). 

“VATA” means the Value Added Tax Act 1994. 

“Vault Location” means our vault premises in London, New York or Toronto, as applicable. 

“Withdrawal Date” means the Business Day on which you wish to withdraw Gold from the Account. 

 

	 	1.2	Headings: The headings in this Agreement do not affect its interpretation. 

 

	 	1.3	Singular and plural: References to the singular include the plural and vice versa. 

 

	 	1.4	VAT Groups: References to any right, entitlement or obligation of any person under the laws in relation to VAT shall (where appropriate and unless
the context otherwise requires) be construed, at any time when such person is treated as a member of a VAT Group, to include a reference to the right, entitlement or obligation under such laws of the representative member of such VAT Group at such
time. 

  

	 	1.5	Amendment and Restatement: With effect from and including September 1, 2010, the Original Custodian Agreement shall be amended and restated on
the terms of this Agreement. Subject to such amendment and restatement, the Original Custodian Agreement shall continue in full force and effect. 

  

	2.	ACCOUNT 

  

	 	2.1	Opening Account: We shall open and maintain the Account. The Account shall comprise: 

 

	 	(a)	an Allocated Account in respect of Gold which you ask us to hold for you on an allocated basis; and 

 

 - 3 - 

	 	(b)	an Unallocated Account in respect of Gold which you ask us to hold for you on an unallocated basis, 

which together shall be treated as a single account for all purposes of this Agreement unless the context requires otherwise. 

 

	 	2.2	Deposits and withdrawals: The balance of your Account shall reflect the combined balance on your Allocated Account and Unallocated Account. The
balance of the Allocated Account shall reflect the amount of Bullion. The balance of the Unallocated Account shall reflect your or our entitlement to delivery of an amount of Gold from the other party, in each case equal to the amount of deposits
less withdrawals of Gold made by you pursuant to the terms of this Agreement in relation to the Unallocated Account. 

  

	 	2.3	Denomination of Account: The Account shall be denominated in Ounces. 

 

	 	2.4	Delivery, Receipt and Maintenance of Gold: We will receive, hold, release and deliver Gold from the Account only in accordance with this
Agreement and the Procedures. In the event of a conflict between the terms of this Agreement and those of the Procedures, the Procedures shall prevail; provided, however, that any amendment to the Procedures after the date of this Agreement
which modifies the scope of our duties or liabilities shall only be binding upon us to the extent that it has been adopted by you and the Sponsor with our prior written consent (which consent will not be unreasonably withheld or delayed).

  

	 	2.5	Reports: We will provide reports to you relating to deposits into and withdrawals from the Account and the Account Balance in such form and with
such frequency (but not less than monthly) as may be agreed between you and us including the reports specified in sub-clauses (a) and (b) below. We will notify you by telex, SWIFT or fax on each day there is activity in an account of the
balance in the account on such day and of any instruction to which we were unable to give effect. Such reports will also be available to you daily by means of eBTS, however the paper record will prevail. 

 

	 	(a)	For each Business Day, not later than 9:00 a.m., New York time on the following Business Day, we will transmit to you information showing the movement of Gold into and
out of the Account, identifying separately each transaction and any substitution of Gold made under clause 2.7. 

  

	 	(b)	We will supply to you at least monthly, within ten Business Days following the end of each calendar month a written statement which: 

 

	 	(i)	lists all property held in the Account including a weight list for the Gold in the Allocated Account containing information sufficient to uniquely identify each bar of
Gold; 

  

	 	(ii)	identifies the entity having physical possession of each bar; and 

  

	 	(iii)	details all transactions involving the Account, including daily balances held in the Unallocated Account and all transfers to or from the Account or any account with a
Sub-Custodian containing Gold held for your benefit and any substitutions or relocations of Gold held in the Account. 

  

 - 4 - 

	 	(c)	We will maintain a secure website, whereby you shall gain access to the list of all bars of Gold in the Account, which list shall be updated at least weekly and include
the following information for each bar of Gold: 

  

	 	(i)	relevant Vault Location; 

  

	 	(ii)	gross weight; 

  

	 	(iii)	fineness; 

  

	 	(iv)	serial identification number; 

  

	 	(v)	size; 

  

	 	(vi)	fine Ounces; and 

  

	 	(vii)	applicable refinery name. 

 Such
reports shall also include any other information that you may reasonably request. We will provide additional weight lists to you upon your request. 
  

	 	2.6	Reversal of entries: We at all times reserve the right to reverse any provisional or erroneous entries to the Account with effect back-valued to
the date upon which the final or correct entry (or no entry) should have been made. 

  

	 	2.7	Substitution of Gold: With your prior approval (in consultation with the Sponsor), we may substitute other Gold for Bullion, provided that there is
no change in the total number of Ounces of Bullion. 

  

	 	2.8	 Access to Records; Inspection Rights: We will permit your officers and properly designated representatives and independent public
accountants for the Trust identified by you reasonable access to the records of the Account for the purpose of confirming the content of those records. Upon at least ten days’ prior notice, during our regular banking hours, any such officer or
properly designated representative, any independent public accountants for the Trust identified by you and any person designated by any regulatory authority having jurisdiction over you or the Trust will be entitled to examine on our premises the
Gold held by us on our premises pursuant to this Agreement and our records regarding the Gold held hereunder at a Sub-Custodian, but only upon receipt from you of properly authorised instructions to that effect. Unless we have received at least ten
days’ prior notice and reasonable assurances (in the our sole discretion) that any costs and expenses incurred in connection therewith will be indemnified to us, we shall not be required to move to our premises any Gold held at a Sub-Custodian
for purposes of making it available for inspection as provided herein. In addition, we understand that, in connection with the preparation of the financial statements of the Trust that will be filed from time to time with the United States
Securities and Exchange Commission, officers of the Sponsor will be required by law or regulation to provide written assurances regarding the reliability of the internal controls used in the preparation of those financials. To the extent that our
activities or controls in our capacity as custodian of the Trust assets are relevant to the information presented in the financial statements of the Trust, we will cooperate with the Sponsor and the Trustee to enable the Sponsor to provide the
required 

  

 - 5 - 

	 	 
written assurances referred to above, including (but not limited to) by providing the Sponsor’s and the Trust’s external auditors with any necessary information and reports regarding
our internal control over financial reporting as far as such reporting relates to the scope of our duties. 

  

	3.	DEPOSITS 

  

	 	3.1	Procedure: You may at any time notify us of your intention to deposit Gold. A deposit must be made (in the manner and accompanied by such
documentation as we may require) by: 

  

	 	(a)	(in the case of the Unallocated Account only) transfer from an account relating to Gold and having the same denomination as that to which the Account relates; or

  

	 	(b)	the delivery of Gold to us at any Vault Location, through any recognised clearing member of the LBMA or COMEX (acting as delivery agent), or as we may otherwise direct,
at your expense and risk. All deposits of Gold delivered to us must be in the form of bars which comply with the Rules (including the Rules relating to good delivery and fineness) or in such other form as may be agreed between you and us.

  

	 	3.2	Notice requirements: Any notice relating to a deposit of Gold must: 

 

	 	(a)	be received by us no later than the time specified in the Procedures unless otherwise agreed; 

 

	 	(b)	in the case of a deposit pursuant to clause 3.1(a), specify the details of the account from which the Gold will be transferred; 

 

	 	(c)	in the case of a deposit pursuant to clause 3.1(b), specify the name of the person or carrier that will deliver the Gold to us at a Vault Location, or as we may direct,
and the manner in which the Gold will be packed; and 

  

	 	(d)	specify the amount (in the appropriate denomination) of the Gold to be credited to the Account, the Availability Date, and any other information which we may from time
to time require. 

  

	 	3.3	Timing: A deposit of Gold will not be credited to the Account until: 

 

	 	(a)	in the case of a deposit pursuant to clause 3.1(a), an account of ours with any bank, broker or other firm has been credited with an amount equal to the amount of such
deposit; and 

  

	 	(b)	in the case of a deposit pursuant to clause 3.1(b), we have received the Gold and verified compliance with the Rules (without prejudice to clause 11.1), weighed it in
accordance with LBMA or COMEX practice, as applicable, to confirm that it is the required weight, confirmed all markings, and determined on the basis of a visual inspection that it is not damaged and there is no reason to believe it is not
accurately described in the delivery instruction. 

  

 - 6 - 

	 	3.4	Capacity; Right to refuse Precious Metal or amend procedure: We will use our best efforts to have
available the necessary capacity to take delivery of Gold on your behalf at the locations specified in clause 7.4 of this Agreement by parties making such deliveries; for this purpose we are authorised to, at our own risk and expense, move Gold held
in the Account from one location to another location otherwise permitted under this Agreement; provided, that we will not be required to take any additional delivery of Gold if, after giving effect to such delivery, the aggregate value of
Bullion would exceed U.S.$50 billion. 

  

	4.	WITHDRAWALS 

  

	 	4.1	Release of Gold: No Gold held in the Account shall be released in any manner whatsoever except upon your written instructions and in
accordance with the Procedures. We will deliver Gold by making Gold bars available for collection at our office or at the office of a Sub-Custodian at which the Gold is held. However, we will, upon your order, deliver amounts of up to 430 Ounces
from the Unallocated Account. 

  

	 	4.2	Procedure: You may at any time notify us of your intention to withdraw Gold standing to the credit of the Account. A withdrawal may be made (in the
manner and accompanied by such documentation as we may require) by: 

  

	 	(a)	(in the case of the Unallocated Account only) transfer to an account relating to Gold and having the same denomination as that to which the Account relates; or

  

	 	(b)	the collection of Gold from us at any Vault Location, or at the vault premises of such Sub-Custodian as we may direct, at your expense and risk. Without prejudice to
clause 11.1, any Gold made available to you will be in the form of bars which comply with the Rules (including the Rules relating to good delivery and fineness) or in such other form as may be agreed between you and us. We are entitled to select
which bars are to be made available to you. 

  

	 	4.3	Notice requirements: Any notice relating to a withdrawal of Gold must: 

 

	 	(a)	be received by us no later than the time set out in the Procedures; 

  

	 	(b)	specify the details of the account to which the Gold is to be transferred or the name of the person or carrier that will collect the Gold from us (as applicable); and

  

	 	(c)	specify the amount of Gold to be withdrawn from the Allocated Account and the amount (in the appropriate denomination) of any Gold to be debited to the Unallocated
Account, the Withdrawal Date, and any other information which we may from time to time require. 

  

	 	4.4	Collection of Bullion: You must collect, or arrange for the collection of Bullion being withdrawn
from us or the Sub-Custodian at your expense and risk. We will advise you of the Vault Location from which the Bullion may be collected no later than one Business Day prior to the Withdrawal Date. 

 

	5.	INSTRUCTIONS 

  

 - 7 - 

	 	5.1	Your representatives: Whenever in this Agreement it is provided that we are authorised to act or
refrain from acting on instructions, approval or consent of, or notice from, you, we are so authorised to act or refrain from acting only on instructions, approval, consent or notice given in accordance with this clause 5. We are authorised to rely
and act upon written instructions signed by an authorised person designated in Schedule 2 (“Authorised Persons”), as amended from time to time by written notice to us. Except where otherwise provided in this Agreement, we are further
authorised to rely upon instructions received orally or by any other means which are identified as having been given by an Authorised Person and which conform to any agreement which might be entered between you and us regarding the method of
identification or the means of transmission of such instructions, including through eBTS. Any oral instructions shall be promptly confirmed in writing. Until we receive written notice to the contrary, we are entitled to assume that any Authorised
Person has full and unrestricted power to give us instructions on your behalf. We are also entitled to rely on any instructions which are from, or which purport to emanate from, any person who appears to have such authority; provided, that,
other than for any instructions transmitted through an authenticated electronic transmission system, if any such person is not an Authorized Person, we will promptly contact you to seek to verify his authority to act on your behalf.

  

	 	5.2	eBTS: All transfers into and out of the Account(s) shall be made upon receipt of, and in
accordance with, instructions given by you to us. Such instructions may be given either: a. through eBTS, accessible through the JPMorgan Chase Bank website (the “Website”) by you pursuant to the terms of the Website agreement; or
b. if, for any reason the Website is not operational, and unless otherwise agreed, any such instruction or communication shall be effective if given by authenticated electronic transmission (including tested telex and SWIFT) or such other
electronic messaging system as the parties may from time to time agree. 

  

	 	5.3	Amendments: Once given, instructions continue in full force and effect until they are cancelled,
amended or superseded. Any such instructions shall have effect only after actual receipt by us. 

  

	 	5.4	Unclear or ambiguous instructions: If, in our opinion, any instructions are unclear or ambiguous,
we will use reasonable endeavours (taking into account any relevant time constraints) to obtain clarification of those instructions but, failing that, we may in our absolute discretion and without any liability on our part, act upon what we believe
in good faith such instructions to be or refuse to take any action or execute such instructions until any ambiguity or conflict has been resolved to our satisfaction. 

 

	 	5.5	Refusal to execute: We reserve the right to refuse to execute instructions if in our opinion they
are or may be contrary to the Rules or any applicable law. 

  

	6.	CONFIDENTIALITY 

  

	 	6.1	Disclosure to others: Subject to clause 6.2, each party shall respect the confidentiality of information acquired under this Agreement and neither will,
without the consent of the other, disclose to any other person any information acquired under this Agreement provided that nothing in this Agreement will prevent or condition the filing with the United States Securities and Exchange Commission of a
copy of this Agreement in connection with the registration of the public offering of its shares by the Trust. 

  

 - 8 - 

	 	6.2	Permitted disclosures: Each party accepts that from time to time the other party may be required by law or the Rules, or requested by a government
department or agency, fiscal body or regulatory authority, to disclose information acquired under this Agreement. In addition, the disclosure of such information may be required by a party’s auditors, by its legal or other advisors or by a
company which is in the same group of companies as a party (e.g., a subsidiary or holding company of a party). Each party irrevocably authorises the other to make such disclosures without further reference to such party.

  

	7.	CUSTODY SERVICES 

  

	 	7.1	Appointment: You hereby appoint us to act as custodian of the Bullion in accordance with this Agreement and any Rules
which apply to us. 

  

	 	7.2	Segregation of Bullion: We will segregate the Bullion from any precious metal which we own or hold
for other customers or which BNYM owns in its own right and we will request Sub-Custodians to segregate the Bullion from any precious metals owned by any of the foregoing. 

 

	 	7.3	Ownership of Bullion: We will identify in our books that the Bullion belongs to you.

  

	 	7.4	Location of Bullion: The Bullion must be held by us at a Vault Location or at the vaults of any
Sub-Custodian in England, United States, or Canada, unless otherwise agreed between you and us (with the Sponsor’s approval). 

  

	 	7.5	Minimization of Gold held in Unallocated Account: We will seek to minimise the amount of Gold held
in the Unallocated Account by allocating, on each Business Day, bars of Gold to the Allocated Account in substitution for holdings of an equivalent denomination in the Unallocated Account such that no Gold is held in the Unallocated Account at the
close of such Business Day. If in the process of reducing to zero the number of Ounces in the Unallocated Account on any Business Day we allocate to the Allocated Account a Gold bar with an aggregate weight in excess of your balance in the
Unallocated Account prior to such allocation, we and the Trust will be co-owners of such Gold bar in proportion to our respective ownership interests. We will take reasonable steps to limit at all times the number of bars of Bullion co-owned by the
Trust and us to no more than one and, for this purpose, any allocation to the Allocated Account will seek to eliminate such co-ownership by first transferring to the Trust the portion of any jointly owned Gold bar not owned by the Trust.

  

	 	7.6	Charges; Liens: The Bullion and Gold held in Unallocated Account shall not be subject to any
right, charge, security interest, lien or claim of any kind in favour of us, any Sub-Custodian or any creditor of any of them, except a lien for payment for the safe custody and administration of the Bullion or Gold held in Unallocated Account. We
shall not loan, hypothecate, pledge or otherwise encumber any Bullion or Gold held in Unallocated Account absent your written instructions. 

  

	 	7.7	 Insurance: We undertake that we maintain insurance in support of our custodial
obligations under this Agreement including covering any loss of Gold. Evidence of such insurance coverage is available upon request. In the event that we elect to reduce, cancel or not to renew such insurance, we will give you prior written notice
as follows: in the case of a reduction, we will endeavour to provide such notice at least 30 days prior to the effective date of the reduction; and in the event of a cancellation or expiration of the

  

 - 9 - 

	 	 
insurance without renewal we will provide such notice at least 30 days prior to the last day of insurance coverage. You acknowledge that any such insurance is held for our benefit and not for the
benefit of you or the Trust, and that notwithstanding clause 11.6 you may not submit any claim under the terms of such insurance. 

  

	 	7.8	Notice of Changes: We will notify you promptly in writing if we become aware that (i) we receive notice of any
claim against the Account other than a claim for payment of safe custody or administration permitted by this Agreement; (ii) we otherwise fail to comply with any of the provisions of this Agreement; or (iii) any of our representations and
warranties in clause 9 shall cease to be true and correct. 

  

	 	7.9	Other Information: We will provide to you (i) our most recent audited financial statements
promptly after such statements are prepared; (ii) a copy of any reports obtained by us on the accounting system and internal accounting controls and procedures used by any Sub-Custodian at which any Gold is held; (iii) information
regarding market policies and procedures, the local law applicable to our activities, and the overall regulatory and economic environment in which we operate; and (iv) the names and addresses of the governmental agencies or regulatory
authorities which supervise or regulate us and any Sub-Custodian with which Gold has been deposited pursuant to this Agreement. 

  

	 	7.10	Purchases of Gold by us: When requested by you on any Business Day on which Gold held by the Trust is evaluated, we will purchase from you, for
cash and for same day settlement, the amount of Gold that you specify as necessary to pay the expenses of the Trust at a price per Ounce equal to the price used by you for the evaluation of the Trust’s Gold on such date. We will pay to you or
to your order the proceeds of each purchase of Gold made under this clause when requested by you or otherwise on the first Business Day following the end of the month in which the transaction occurred. 

 

	8.	SUB-CUSTODIANS AND AGENTS 

  

	 	8.1	Sub-Custodians: We may appoint Sub-Custodians to perform any of our duties under this Agreement
including the custody and safekeeping of Bullion. We will use reasonable care in the appointment of any Sub-Custodian. Gold held by a Sub-Custodian shall be kept in our account at such Sub-Custodian, and we will separately identify on our books Gold
that is so held on your behalf. Our account with each such Sub-Custodian will be subject only to our instructions. Any Sub-Custodian will be a member of the LBMA. 

 

	 	8.2	Liability for Sub-Custodians: Our use of Sub-Custodians shall be without prejudice to our
obligations and liabilities under this Agreement. 

  

	 	8.3	Notice: We will provide you on request with the name and address of any Sub-Custodian of Bullion
along with any other information which you may reasonably require concerning the appointment of a Sub-Custodian. 

  

	 	8.4	 Monitoring: We will monitor the conduct of each Sub-Custodian, and promptly
advise you of any difficulties or problems (financial, operational or otherwise) existing with respect to such Sub-Custodian of which we are aware and will take appropriate and

  

 - 10 - 

	 	 
lawful action to protect and safekeep your Gold deposited with such Sub-Custodian, including to the extent feasible, the withdrawal of such Gold from such Sub-Custodian.

  

	 	8.5	Access and Inspection: We will not entrust Gold held in the Account to any Sub-Custodian unless
that Sub-Custodian grants rights of access and inspection to records and Gold that are similar to those granted by us under this Agreement. 

  

	 	8.6	Use of Agents: We may in our discretion use agents in connection with handling transactions under this
Agreement, provided that any such use shall not relieve us of any of our responsibilities or liabilities hereunder. 

  

	9.	REPRESENTATIONS 

  

	 	9.1	Your representations: You represent and warrant to us that: 

 

	 	(a)	the Trust is and will remain duly constituted with all necessary authority, powers, consents, licences and authorisations and all necessary action has been taken to
enable it to engage in the transactions provided for under this Agreement; 

  

	 	(b)	you are and will remain duly appointed as trustee of the Trust and have and will have unencumbered legal title to the assets of the Trust at all times;

  

	 	(c)	you have all necessary authority, powers, consents, licences and authorisations and have taken all necessary action to enable you lawfully to enter into and perform
your duties and obligations under this Agreement; 

  

	 	(d)	the persons entering into this Agreement on your behalf have been duly authorised to do so; and 

 

	 	(e)	this Agreement and the obligations created under it are binding upon you and enforceable against you in accordance with its terms (subject to applicable principles of
equity) and do not and will not violate the terms of the Rules or any order, charge or agreement by which you are bound. 

You undertake to notify us in the event that any of the statements set out in the sub-clauses ceases to be true. 

 

	 	9.2	Our representations: We represent and warrant to you that: 

 

	 	(a)	We are a bank, duly organized under the laws of our country of organization as set forth above, and are regulated as such by that country’s government or an agency
thereof; 

  

	 	(b)	this Agreement has been duly authorized, executed and delivered on our behalf and constitutes our legal, valid and binding obligation; 

 

	 	(c)	we are, and will continue to be during the term of this Agreement, a member of the LBMA; 

 

 - 11 - 

	 	(d)	we have, and shall maintain during the term of this Agreement, at least the minimum amount of capital required to operate an approved depository in which gold may be
stored for delivery on gold futures traded on COMEX; 

  

	 	(e)	the execution, delivery and performance of this Agreement by us do not and will not violate any applicable law or regulation and do not require the consent of any
governmental or other regulatory body except for such consents and approvals as have been obtained; and 

  

	 	(f)	Gold substituted by us under clause 2.7 has a fine weight at least equal to the fine weight of the Bullion for which it is substituted. 

 

	10.	FEES AND EXPENSES 

  

	 	10.1	Fees: Our fees will be paid in accordance with the fee agreement which has been executed by the
parties hereto and BlackRock Asset Management International Inc. (the “Sponsor”), as that agreement may be amended from time to time by the parties to it in accordance with its terms. Details of charges (including charges with
respect to the use of the eBTS Website, if any, transfer clearing charges and storage charges) will be advised to you by us in writing from time to time. 

  

	 	10.2	Credit balances: No interest or other amount will be paid by us on any credit balance on the Unallocated Account.

  

	 	10.3	Debit balances: You are not entitled to overdraw the Unallocated Account except to the extent that there is equivalent Bullion. If for any
reason the Unallocated Account is overdrawn beyond 430 Ounces, we may at our sole discretion and without any further consent from you transfer equivalent Bullion from the Allocated Account in satisfaction of such debit balance.

  

	11.	SCOPE OF RESPONSIBILITY 

  

	 	11.1	Disclaimer of liability: You understand and agree that we will not know, except as provided in clause 3.3(b), will not have any duty to determine
and, except as provided in clause 9.2(d), in making any report required under this Agreement, will not be considered to be making any representation or warranty as to whether in fact the Gold deposited with us contains the amount of pure gold
indicated on the bars. Except for Gold deposited by us in substitution for other Gold held in the Account under clause 2.7, WE DISCLAIM ALL LIABILITY FOR THE GENUINENESS AND FINENESS OF GOLD DEPOSITED WITH US UNDER THIS AGREEMENT.

  

	 	11.2	Exclusion of liability: We will use reasonable care in the performance of our duties under this Agreement and without prejudice to clause 11.1 will
only be responsible for any loss or damage suffered by you as a direct result of any negligence, fraud or wilful default on our part in the performance of our duties, and in which case our liability will not exceed the aggregate of the market value
of the Bullion and the balance of the Unallocated Account at the time of such negligence, fraud or wilful default. 

  

 - 12 - 

	 	11.3	Force majeure: Neither we, nor any of our directors, employees, agents or affiliates shall incur
any liability to you if, by reason of any provision of any present or future law or regulation of the United Kingdom or any other country, or of any governmental or regulatory authority or stock exchange, or by reason of any act of God or war or
terrorism or other circumstances beyond our control, we are prevented or forbidden from, or would be subject to any civil or criminal penalty on account of, or are delayed in, doing or performing any act or thing which by the terms of this Agreement
it is provided shall be done or performed and accordingly we do not do that thing or do that thing at a later time than would otherwise be required. 

  

	 	11.4	Indemnity in favour of us: You shall indemnify and keep us indemnified (on an after tax basis) on
demand against all costs and expenses, damages, liabilities and losses (including but not limited to reasonable legal fees and expenses) (“Losses”) which we may suffer or incur directly in connection with this
Agreement except to the extent that such Losses are due directly to our negligence, wilful default or fraud. 

  

	 	11.5	Indemnity in favour of you: We shall be liable for and shall indemnify you for, and hold
you harmless from, any Losses incurred by you (individually or in your capacity as trustee) directly relating to or arising from any breach of our representations and warranties contained in this Agreement, any failure by us to act or refrain from
acting in accordance with instructions under clause 5 from you, or any physical loss, destruction or damage to the Bullion, except, in each case, for Losses arising from nuclear fission or fusion, radioactivity, war, terrorist event, invasion,
insurrection, civil commotion, riot, strike, act of government or public authority, act of God or a similar cause that is beyond our control, provided that our liability under this clause shall be limited to the value of Gold under custody at the
time of the act or omission giving rise to the claim under this clause. You will notify us promptly of any proceeding or claim for which you may seek indemnity, and we shall cooperate fully with you with respect to any such proceeding or claim. Any
deposit of Gold held in the Account with a Sub-Custodian pursuant to Section 8 hereof shall not affect our responsibilities or liabilities or in any way limit or relieve us of our responsibilities or liabilities under this Section 11, and
we shall remain fully liable with respect to such Gold as if we had retained physical possession of it. 

  

	 	11.6	Subrogation: You and the Trust will be subrogated to us with respect to any claim against a
Sub-Custodian or any other person for any loss or damage suffered by you or the Trust if and to the extent that you and the Trust have not been made whole for such loss or damage, and we hereby assign all such rights to you. Your exercise of the
rights granted in this clause shall not affect our liabilities under the preceding provisions of this clause 11. 

  

	 	11.7	Exculpation in respect of offer document: We and our officers, directors, employees, agents and
sub-custodians shall not be responsible or liable in any manner for any recitals, statements, representations or warranties made by any person other than us under or in connection with the establishment of, or sale of interests in, the Trust,
including without limitation any offer document, prospectus, filings, marketing documentation or other documentation relating thereto. 

  

	12.	TERMINATION 

  

 - 13 - 

	 	12.1	Method: Either party may terminate this Agreement by giving not less than 60 Business Days written
notice to the other party, provided that we may terminate this Agreement immediately on written notice in the event that any of the statements set out in clause 9.1(a)-(e) become untrue, and you may terminate this Agreement immediately
on written notice following an event specified in clause 7.8 provided that clause 11 shall survive termination of this Agreement. Any such notice given by you must specify: 

 

	 	(a)	the date on which the termination will take effect (the “Termination Date”); 

 

	 	(b)	the person to whom any Bullion and any credit balance on the Unallocated Account is to be transferred; and 

 

	 	(c)	all other necessary arrangements for the transfer or repayment, as the case may be, of any Account Balance. 

 

	 	12.2	Redelivery arrangements: If you do not make arrangements acceptable to us for the transfer or repayment of any Bullion or credit balance in the
Unallocated Account we may continue to store the Bullion or maintain that Unallocated Account (as the case may be), in which case we will continue to charge the Fees payable under clause 10. If you have not made arrangements acceptable to us for the
redelivery of the Bullion or transfer or repayment of any credit balance in the Unallocated Account (as the case may be) within 6 months of the date specified in the termination notice as the date on which the termination will take effect, we will
be entitled to close the Account, sell the Bullion and close the Unallocated Account and account to you for the proceeds after deducting any amounts due to us under this Agreement. 

 

	 	12.3	Existing rights: Termination shall not affect rights and obligations then outstanding under this
Agreement which shall continue to be governed by this Agreement until all obligations have been fully performed. 

  

	 	12.4	eBTS: Effective the Termination Date the use of the Website will automatically be terminated and no further access to the Website
will be permitted. 

  

	13.	VALUE ADDED TAX 

  

	 	13.1	VAT included: All sums payable or other consideration provided to us by you or the Sponsor in connection with this Agreement (including, without
limitation, pursuant to the fee agreement referred to in clause 10.1) are inclusive of any VAT which is or becomes chargeable on the supply or supplies for which such sums or other consideration (or any part thereof) are the whole or part of the
consideration for VAT purposes and section 89 of VATA shall not apply to affect the amount of such sums or value of such other consideration. 

  

	 	13.2	Supplies of Gold: Notwithstanding clause 13.1, where, pursuant to or in connection with this Agreement: 

 

	 	(a)	(i)    you instruct us in writing to remove any Gold from the black box; and 

(ii)    we, or any Sub-Custodian for us, are required to account to Customs for any VAT in respect of such removal,

  

 - 14 - 

 you shall pay to us a sum equal to the amount of such VAT, such payment to be made within 5
Business Days of receipt by you of a valid VAT invoice (or a copy of such invoice where the original of the same has been issued to the person to whom you instructed us to deliver the relevant Gold). 

(b) you or any other person makes a supply to us for VAT purposes and VAT is or becomes chargeable on such supply, we shall, within 5
Business Days of receipt of a valid VAT invoice in respect of such supply, pay to you a sum equal to the amount of such VAT, save to the extent that we (acting reasonably and in good faith) are not entitled to credit or repayment in respect of such
VAT from Customs. 
 In this clause 13.2 the terms “remove” (and any derivation thereof) and “black box” to
be construed in accordance with the HMRC Agreement. 
  

	14.	NOTICES AND RECORD-KEEPING 

  

	 	14.1	Form: A notice or other communication under or in connection with this Agreement may be given orally unless required in writing under this
Agreement. References to writing includes an electronic transmission. 

  

	 	14.2	Method of transmission: Any notice or other communication required to be in writing may be delivered personally or sent by first class post,
pre-paid recorded delivery (or air mail if overseas), authenticated electronic transmission (including telex, fax and SWIFT) or such other electronic transmission as the parties may from time to time agree, to the party due to receive the notice or
communication, addressed as follows, or to another address, number or destination specified by that party by written notice to the other: 

  

	 	14.2.1	If to us, 

 JPMorgan Chase Bank,
N.A., London branch 
 125 London Wall 

London, England EC2Y 5AJ 

Attention: Peter L. Smith 

Facsimile: + 44 120 2345348 
  

	 	14.2.2	If to you, 

 Julio J. Lugo, VP

 ADR Administration 

The Bank of New York Mellon 

101 Barclay Street,
22nd Floor 

New York, NY 10286 

Telephone: + 1 212 815 2122 

Facsimile: +1 212 571 3050 
  

	 	14.3	Deemed receipt on notice: A notice or other communication under or in connection with this Agreement will be deemed received only if actually received or
delivered. 

  

	 	14.4	 Recording of calls: We may record telephone conversations without use of a warning tone. Such recordings will be our sole property and
accepted by you as evidence of the 

  

 - 15 - 

	 	 
orders or instructions given; provided that in case of any dispute or disagreement regarding any conversation so recorded we will promptly share the recordings with you and your
representatives; and provided further, that we will have no obligations to retain any such recordings prior to becoming aware of any such dispute or disagreement. 

 

	 	14.5	Records: We will maintain adequate records identifying the Gold as belonging to you. Such records shall include, with respect to the
Account: 

  

	 	(a)	journals or other records of original entry containing an itemised daily record in detail of all receipts and deliveries of Gold (including adequate information to
uniquely identify each bar of Gold received in or delivered from the Allocated Account and the person from whom each bar was delivered; and 

  

	 	(b)	ledgers (or other records) reflecting: 

  

	 	(i)	Gold in our physical possession, or held by any Sub-Custodian; and 

  

	 	(ii)	Gold held in the Unallocated Account and allocations made daily in respect thereof, as provided in Section 7.5; and 

 

	 	(iii)	such other books and records as you may reasonably request. 

  

	 	14.6	Annual Certificate: We will deliver annually to you and more frequently if requested by you, a certificate dated the date of delivery, certifying
that we have, since the date of this Agreement or the date of the preceding such certificate, complied with the terms and conditions of this Agreement and that our representations and warranties in clause 9 of this Agreement continue to be true and
correct. 

  

 - 16 - 

	15.	GENERAL 

  

	 	15.1	No advice: Our duties and obligations under this Agreement do not include providing you with investment advice. In
asking us to open and maintain the Account, you do so in reliance upon your own judgement and we shall not owe to you any duty to exercise any judgement on your behalf as to the merits or suitability of any deposits into, or withdrawals from, an
Account. 

  

	 	15.2	Assignment: This agreement is for the benefit of and binding upon us both and our respective successors and assigns.
You may not assign, transfer or encumber, or purport to assign, transfer or encumber, your right, title or interest in relation to any Account or any right or obligation under this Agreement or any part of any of the foregoing unless we otherwise
agree in writing. 

  

	 	15.3	Amendments: Any amendment to this Agreement must be agreed in writing and be signed by us both. Any amendment affecting the rights of the Sponsor
under this Agreement shall require written consent of the Sponsor. Unless otherwise agreed, an amendment will not affect any legal rights or obligations which may already have arisen. 

 

	 	15.4	Partial invalidity: If any of the clauses (or part of a clause) of this Agreement becomes invalid or unenforceable in any way under the Rules or
any law, the validity of the remaining clauses (or part of a clause) will not in any way be affected or impaired. 

  

	 	15.5	Entire agreement: This document represents the entire agreement, and supersedes any previous agreements between you and us relating to the subject
matter of this Agreement. 

  

	 	15.6	Joint and several liability: If there is more than one of you, your responsibilities under this Agreement apply to each of you individually as well
as jointly. 

  

	 	15.7	Counterparts: This agreement may be executed in any number of counterparts each of which when executed and
delivered is an original, but all the counterparts together constitute the same agreement. 

  

	 	15.8	Contracts (Rights of Third Parties) Act 1999: Other than the Sponsor, a person who is not a party to this Agreement shall have no rights under the
Contracts (Rights of Third Parties Act) 1999. 

  

	 	15.9	Legal opinion: We will furnish to you an opinion of counsel acceptable to you addressed to you and dated the date hereof to the effect that:

  

	 	(a)	our execution, delivery and performance of this Agreement have been duly authorized by us and do not and will not violate any applicable law or regulation and do not
require the consent of any governmental or other regulatory body; and 

  

	 	(b)	this Agreement has been duly executed and delivered by us and constitutes our legal, valid and binding obligation, enforceable in accordance with its terms subject to
principles of equity. 

  

 - 17 - 

	16.	PROCEDURES 

 The
provisions of the Procedures are hereby incorporated into and made a part of this Agreement, subject to clause 2.4. You and we agree to comply with the Procedures. You, with the prior written consent of the Sponsor, may modify the Procedures from
time to time upon reasonable advance notice and, if the modifications relate to our duties, after consultation with us. 
  

	17.	GOVERNING LAW AND JURISDICTION 

  

	 	17.1	Governing law: This agreement is governed by, and will be construed in accordance with, English law. 

 

	 	17.2	Jurisdiction: The English courts have non-exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with this
Agreement and, for these purposes you irrevocably submit to the jurisdiction of the English courts. 

  

	 	17.3	Waiver of immunity: To the extent that you may in any jurisdiction claim for yourself or your assets any immunity from suit, judgement, enforcement
or otherwise howsoever, you agree not to claim and irrevocably waive any such immunity to which you would otherwise be entitled (whether on grounds of sovereignty or otherwise) to the full extent permitted by the laws of such jurisdiction.

  

	 	17.4	Service of process: If you are situated outside England and Wales, process by which any proceedings in England are begun may be served on you by
being delivered to the address specified below. This does not affect our right to serve process in another manner permitted by law. 

Address for service of
process:.............................................................................. 

[Signature Page Follows] 
  

 - 18 - 

 IN WITNESS WHEREOF, the parties hereto have duly executed this agreement as of the date first above
written. 
 Signed on behalf of 
  

			
	JPMorgan Chase Bank N.A., London Branch
		
	by	 	
		
	Signature:	 	 /s/ A. C. Lovell

		
	            Name:	 	Andrew Lovell
		
	            Title:	 	Vice President

  

			
	The Bank of New York Mellon
	solely in its capacity as trustee of iShares® Gold Trust
		
	by	 	
		
	Signature:	 	 /s/ Joseph Keenan

		
	            Name:	 	Josef Keenan
		
	            Title:	 	Managing Director

 Schedule 1 

Procedures 

iShares®
 Gold Trust 
 Creation and Redemption Procedures 

Dated as of September 2, 2010 

 TABLE OF CONTENTS 

 

							
	 	  	Page
	ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	1
				
		 	Section 1.01.	  	Definitions	  	1
				
		 	Section 1.02.	  	Interpretation	  	2
				
		 	Section 1.03.	  	Conflicts	  	2
		
	ARTICLE II CREATION PROCEDURES	  	2
				
		 	Section 2.01.	  	Creation of iShares	  	2
		
	ARTICLE III REDEMPTION PROCEDURES	  	5
				
		 	Section 3.01.	  	Redemption of iShares	  	5

  

 - i - 

iSHARES®
 GOLD TRUST 
 CREATION AND REDEMPTION PROCEDURES 

adopted by the Sponsor and the Trustee (each as defined below) as of September 2, 2010 

ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01. Definitions. For purposes of these Procedures, unless the context otherwise requires, the following terms will have
the following meanings: 
 “Authorized Participant” shall have the meaning ascribed to the term in Section 1.1 of the
Trust Agreement. 
 “Authorized Participant Agreement” shall mean, with respect to an Authorized Participant, such Authorized
Participant’s Authorized Participant Agreement with the Trustee and the Sponsor. 
 “Authorized Representative” shall
mean, with respect to an Authorized Participant, each individual who, pursuant to the provisions of its Authorized Participant Agreement, has the power and authority to act on behalf of the Authorized Participant in connection with the placement of
Purchase Orders or Redemption Orders and is in possession of the personal identification number (PIN) assigned by the Trustee for use in any communications regarding Purchase or Redemption Orders on behalf of such Authorized Participant. 

“Basket” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. 

“Basket Gold Amount” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. 

“Business Day” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. 

“COMEX” means Commodity Exchange, Inc., a subsidiary of New York Mercantile Exchange, Inc. 

“Creation and Redemption Line” shall mean a telephone number designated as such by the Trustee and communicated to each Authorized
Participant in compliance with the notice provisions of the respective Authorized Participant Agreement. 
 “Custodial Account”
shall mean an account established by the Trustee with a Custodian. 
 “Custodian Day” shall mean, with respect to a Custodian,
a day on which the facilities at which a Delivery of Gold is to take place to or by such Custodian on behalf of the Trust are open for business. 

“Custodian” shall mean a financial institution or other entity with which the Trustee shall have entered into an agreement for the
custody of the Trust’s property; provided, that if there is more than one Custodian at any time, a reference in these Procedures to “the Custodian” in connection with a particular Purchase Order or Redemption Order shall be to
such Custodian as the Trustee shall have designated for purposes of such Purchase Order or Redemption Order. 
 “Delivery”
shall mean a delivery of Gold or Shares, as applicable, in each case effected according to the definition of “Deliver” in Section 1.1 of the Trust Agreement. 

“DTC” shall mean The Depository Trust Company, its nominees and their respective successors. 

“Fine Ounces” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. 

“Gold” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. 

“iShares” shall mean shares issued by the Trustee representing fractional, undivided interests in the net assets of the Trust.

 “Order Cut-Off Time” shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement. 

“Order Date” shall have, (i) with respect to a Purchase Order, the meaning ascribed to the term in Section 2.3 of the Trust
Agreement; and (ii) with respect to a Redemption Order, the meaning ascribed to the term in Section 2.6 of the Trust Agreement. 

 “Purchase Order” shall mean an order to purchase one or more Baskets in the form from time
to time adopted by the Trustee. 
 “Redemption Order” shall mean an order to redeem one or more Baskets in the form from time
to time adopted by the Trustee. 
 “Sponsor” shall mean BlackRock Asset Management International Inc, a Delaware corporation,
in its capacity as sponsor of the Trust, and any successor thereto in such capacity. 
 “Transaction Fee” shall mean, as of any
date, the fee at the time in effect pursuant to Section 5.7(a) of the Trust Agreement. 
 “Trustee” shall mean The Bank of
New York Mellon, a New York banking corporation formerly known as The Bank of New York, in its capacity as Trustee under the Trust Agreement, and any successor thereto in compliance with the provisions thereof. 

“Trust” shall mean the
iShares® Gold Trust, a trust governed by the provisions of the Trust Agreement and formerly known as the
iShares®
COMEX® Gold Trust. 

“Trust Agreement” shall mean, as of any date, the Depositary Trust Agreement at the time in effect among the Trustee, the Sponsor, all
owners and beneficial owners from time to time of iShares and all depositors. 
 “Unallocated Basis” shall have the meaning
ascribed to the term in Section 1.1 of the Trust Agreement. 
 “Valuation Relevant Price” shall mean, as of any date, the
price used by the Trustee on such date to determine in compliance with the Trust Agreement the value of the Gold held by the Trust. 

Section 1.02. Interpretation. In these Procedures: 

Unless otherwise indicated, all references to Sections, clauses, paragraphs, schedules or exhibits, are to Sections, clauses, paragraphs,
schedules or exhibits in or to these Procedures. 
 The words “hereof”, “herein”, “hereunder” and
words of similar import shall refer to these Procedures as a whole, and not to any individual provision in which such words may appear. 

A reference to any statute, law, decree, rule, regulation or other applicable norm shall be construed as a reference to such statute,
law, decree, rule, regulation or other applicable norm as re-enacted, re-designated or amended from time to time. 
 A reference
to any agreement, instrument or document shall be construed as a reference to such agreement, instrument or document as the same may have been amended from time to time in compliance with the provisions thereof. 

Section 1.03. Conflicts. In case of conflict between any provision of these Procedures and the terms of the Trust Agreement, the
terms of the Trust Agreement shall control. 
 ARTICLE II 

CREATION PROCEDURES 

Section 2.01. Creation of iShares. The issuance and Delivery of iShares shall take place only in integral numbers of Baskets in
compliance with the following rules: 
 a. Authorized Participants wishing to acquire from the Trustee one or more Baskets shall
place a Purchase Order with the Trustee on any Business Day; provided, however, that only Purchase Orders received by the Trustee prior to the Order Cut-Off Time on a Business Day on which a Valuation Relevant Price is announced shall have
such Business Day as the Order Date. Purchase Orders received by the Trustee on or after the Order Cut-Off Time on a Business Day, or on a Business Day on which the Valuation Relevant Price is not announced, shall be considered received at the
opening of business on the 
  

 - 2 - 

 
next Business Day on which a Valuation Relevant Price is announced and shall have as their Order Date such next Business Day. 

b. For purposes of paragraph “a” above, a Purchase Order shall be deemed “received” by the Trustee only when each of
the following has occurred: 
 (i) An Authorized Representative shall have placed a telephone call to the Trustee’s
Creation and Redemption Line informing the Trustee that the Authorized Participant wishes to place a Purchase Order for a specified number of Baskets, and the location or locations where the Authorized Participant intends to make Delivery of the
Basket Gold Amount corresponding to each Basket (such locations to be limited to those where a Custodian is authorized to hold Gold on behalf of the Trust). 

(ii) Within one hour following such telephone call, the Trustee shall have received, via facsimile or electronic mail message, a duly
completed, irrevocable Purchase Order executed by an Authorized Representative of such Authorized Participant. 
 c. The Trustee
will ask the Custodian to confirm whether delivery can be made at the locations indicated by the Authorized Participant. 
 d.
Before accepting a Purchase Order, the Trustee shall make sure that there exists at least one location at which the Authorized Participant is willing to Deliver, and the Custodian is capable of accepting, the requisite amount of Gold in connection
with such Purchase Order. Should the Trustee elect to accept the Purchase Order, it shall communicate its decision by sending to the Authorized Participant (with copies to the Custodian at the offices of the Custodian in London and at each location
at which the Authorized Participant will be expected to Deliver Gold pursuant to “c” above), via facsimile or electronic mail message, no later than 5:00 p.m. (New York time) on the Order Date for such Purchase Order a copy of the
corresponding Purchase Order endorsed “Accepted” by the Trustee and indicating the Basket Gold Amount that the Authorized Participant shall Deliver to the Custodian in respect of each Basket. Prior to the transmission of the Trustee’s
acceptance as specified above, a Purchase Order will only represent the Authorized Participant’s unilateral offer to deposit Gold in exchange for Baskets of iShares and will have no binding effect upon the Trust, the Trustee, the Custodian or
any other party. 
 e. Unless waived by the Trustee, the Authorized Participant will be responsible for the cost of
transportation of Gold to the location where it is to be Delivered, as well as for the cost of transportation of any Gold that has to be removed from a location at which the Authorized Participant wishes to make Delivery in order to make capacity
available for such Delivery at such location. The Basket Gold Amount corresponding to each Basket must be delivered at the locations specified by the Custodian no later than 11:30 a.m. (local time at the place of Delivery) on the second Custodian
Day following the Order Date. Delivery may be made for deposit either in the Trustee’s Custodial Account or in an account of the Authorized Participant with the Custodian. If delivery is made for deposit in the Authorized Participant’s
account with the Custodian, it will be accompanied by an irrevocable order to the Custodian authorizing the transfer of the Gold so delivered to the Trustee’s Custodial Account against the delivery by the Trustee of the corresponding number of
iShares as provided in paragraph “h” or “i” below, as applicable. The Authorized Participant shall contact the Custodian to obtain information regarding the location of the facilities where Delivery shall take place. The
Custodian shall take all necessary measures to ensure that the facilities at which Delivery is to take place in respect of a Purchase Order are prepared to take such Delivery no later than 11:30 a.m. (local time at the place of Delivery) on the
first Custodian Day following the applicable Order Date. 
 f. Gold shall be Delivered to the Custodian in the form of Gold bars
only and must be accompanied by the corresponding bar list; provided, that an amount of Gold not exceeding 430 Ounces 
  

 - 3 - 

 
may be Delivered to the Custodian on an Unallocated Basis. Gold that has been Delivered to the Custodian no later than 11:30 a.m. (local time at the place of Delivery) on a Custodian Day shall be
allocated by the Custodian to the Trustee’s Custodial Account no later than 9:00 a.m. (New York time) on the first Custodian Day following the date of such Delivery. In all other cases Gold Delivered to the Custodian shall be allocated by the
Custodian to the Trustee’s Custodial Account no later than the third Custodian Day following the Order Date. 
 g. The
Custodian shall allocate Gold to the Trustee’s Custodial Account by (i) making entries in the Custodian’s books and records to identify such Gold as being held for the Trust, it being understood that such entries shall identify each
bar of Gold so allocated by refiner, assay, serial number and gross and fine weight; (ii) physically segregating from Gold held by the Custodian for its own account or on behalf of other clients the Gold so allocated to the Trustee’s
Custodial Account; and (iii) sending to the Trustee, via signed facsimile and electronic mail message, a written confirmation of the allocation, including the identification of the bars allocated as described above. 

h. On the third Business Day following the Order Date corresponding to a Purchase Order, or on such earlier date as the Trustee in its
discretion may agree, the Trustee shall issue the aggregate number of iShares corresponding to the Baskets ordered by the Authorized Participant and Deliver them, by credit to the account at DTC which the Authorized Participant shall have identified
for such purpose in its Purchase Order, provided that, by 9:00 a.m. (New York time) on the date such issuance and Delivery is to take place: 

(i) the Custodian shall have reported in writing to the Trustee that: 

(a) in the case of Gold delivered by the Authorized Participant, it has reviewed the bar list and the Gold received from the Authorized
Participant to assure that the Gold matches the description in the bar list in terms of weight, fineness, refiner’s marks and bar numbers and that, based on that review and on such further examination as the Custodian customarily performs in
respect of gold purchased for its own account, the Gold deposited by the Authorized Participant in respect to such Purchase Order (A) complies with (1) the “Good Delivery” Rules of the London Bullion Market Association, and/or
(2) the specifications for delivery in settlement of a COMEX gold futures contract, and/or (3) such other standards as the Custodian and the Trustee, with the approval of the Sponsor, may have adopted; and (B) except as otherwise
permitted pursuant to the documents governing the Custodial Account, is held by the Custodian on behalf of the Trust in allocated form; 

(b) in the case of Gold delivered by the Authorized Participant on an Unallocated Basis, the corresponding amount of Gold has (except as
otherwise permitted pursuant to the documents governing the Custodial Account) been allocated to the Trustee’s Custodian Account, and the Gold so allocated is in compliance with the provisions of the paragraph above; 

(ii) the Trustee shall have received from the Authorized Participant the applicable Transaction Fee; and 

(iii) any other conditions to the issuance under the Trust Agreement shall have been satisfied. 

i. In all other cases, the Trustee shall issue the aggregate number of iShares corresponding to the Baskets ordered by the Authorized
Participant and Deliver them by credit to the account at DTC which the Authorized Participant shall have identified for such purpose in its Purchase Order on the Business Day following the date on which the conditions set forth in clauses
(i) to (iii) of paragraph “h” above shall have been met. 
  

 - 4 - 

 ARTICLE III 

REDEMPTION PROCEDURES 

Section 3.01. Redemption of iShares. Redemption of iShares shall take place only in integral numbers of Baskets in compliance with
the following rules: 
 a. Authorized Participants wishing to redeem one or more Baskets shall place a Redemption Order with the
Trustee on any Business Day; provided, however, that only Redemption Orders received by the Trustee prior to the Order Cut-Off Time on a Business Day on which a Valuation Relevant Price is announced shall have such Business Day as the Order
Date. Redemption Orders received by the Trustee on or after the Order Cut-Off Time on any Business Day, or on a Business Day on which the Valuation Relevant Price is not announced, shall be considered received at the opening of business on the next
Business Day on which a Valuation Relevant Price is announced and shall have as their Order Date such next Business Day. 
 b.
For purposes of paragraph “a” above, a Redemption Order shall be deemed “received” by the Trustee only when each of the following has occurred: 

(i) An Authorized Representative shall have placed a telephone call to the Trustee’s Creation and Redemption Line informing the
Trustee that the Authorized Participant wishes to place a Redemption Order for a specified number of Baskets. 
 (ii) Within one
hour following such telephone call, the Trustee shall have received, via facsimile or electronic mail message, a duly completed, irrevocable Redemption Order executed by an Authorized Representative of such Authorized Participant. 

c. Should the Trustee elect to accept such Redemption Order, it shall communicate its decision to the Authorized Participant by sending
to the Authorized Participant (with copy to the Custodian), via facsimile or electronic mail message, no later than 5:00 p.m. (New York time) on the Order Date for such Redemption Order a copy of the corresponding Redemption Order endorsed
“Accepted” by the Trustee and indicating the Gold Basket Amount that the Custodian shall Deliver to the Authorized Participant in respect of each Basket being redeemed. 

d. Unless otherwise agreed to by the Custodian, Gold will be Delivered by the Custodian in the form of Gold bars only; provided,
that an amount of Gold not exceeding 430 Ounces may be Delivered by the Custodian on an Unallocated Basis. While a redeeming Authorized Participant will be entitled to express a preference as to the city or facility where it would like to have the
Gold Basket Amount delivered, the Trustee, in consultation with the Custodian and taking into account the best interests of the Trust and the Owners, will have final authority to decide where such delivery will take place. The Custodian shall inform
via electronic mail message or facsimile sent to an Authorized Person of the redeeming Authorized Participant no later than 11:00 a.m. (New York time) on the first Custodian Day following the Order Date of such Redemption Order the exact location(s)
where Delivery will be made, and the amount of Gold to be Delivered to the Authorized Participant at each such location. 
 e.
Provided that by 9:00 a.m. (New York time) on the third Custodian Day following the Order Date of a Redemption Order, the Trustee shall have confirmed in writing to the Custodian that: 

(i) the Authorized Participant has Delivered to the Trustee’s account at DTC the total number of iShares to be redeemed by such
Authorized Participant pursuant to such Redemption Order; 
  

 - 5 - 

 (ii) the Trustee has received the corresponding Transaction Fee; and 

(iii) any other conditions to the redemption under the Trust Agreement have been satisfied, 

the Custodian will, as applicable, on such day, at the locations and in the amounts specified in the communication sent in compliance with paragraph
“d” above, either: (A) effect physical Delivery to such Authorized Participant of the corresponding amounts of Gold which complies with (1) the “Good Delivery” Rules of the London Bullion Market Association, and/or
(2) the specifications for delivery in settlement of a COMEX gold futures contract, and/or (3) such other standards as the Custodian and the Trustee, with the approval of the Sponsor, may have adopted; or (B) Deliver Gold to the
redeeming Authorized Participant by crediting the account indicated by the redeeming Authorized Participant in its Redemption Order. Having made such Delivery, the Custodian will send written confirmation thereof to the Trustee who will then cancel
the iShares so redeemed. 
 f. In all other cases, Delivery must be completed by the Custodian as soon as, in the reasonable
judgment of the Custodian, it is practicable following receipt of written confirmation from the Trustee as described in clauses “i” to “iii” of paragraph “e” above. 

g. The foregoing provisions notwithstanding, the Custodian shall not be liable for any failure or delay in making Delivery of Gold in
respect of a Redemption Order arising from nuclear fission or fusion, radioactivity, war, terrorist event, invasion, insurrection, civil commotion, riot, strike, act of government, public authority or act of God, or a similar cause that is beyond
the Custodian’s control. In the event of any such delay, the time to complete Delivery in respect of a Redemption Order will be extended for a period equal to that during which the inability to perform continues. 

h. In the event that, by 9:00 a.m. (New York time) on the third Custodian Day following the Order Date of a Redemption Order the
Trustee’s account at DTC shall not have been credited with the total number of iShares corresponding to the total number of Baskets to be redeemed pursuant to such Redemption Order, the Trustee will cancel such Redemption Order and will send
via fax or electronic mail message notice of such cancellation to the respective Authorized Participant and the Custodian. 
  

 - 6 - 

 IN WITNESS WHEREOF, the Sponsor and the Trustee have executed these Creation and Redemption
Procedures as of the date set forth above. 
  

					
	 THE BANK OF NEW YORK MELLON,

in its capacity as Trustee of the 
iShares® Gold Trust,

		
	By:	 	 /s/ Josef F. Keenan

		 	Name:	 	Josef F. Keenan
		 	Title:	 	Managing Director
	
	BLACKROCK ASSET MANAGEMENT INTERNATIONAL INC, in its capacity as Sponsor
		
	By:	 	 /s/ D. Wojnar

		 	Name:	 	D. Wojnar
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Raymund Santiago

		 	Name:	 	Raymund Santiago
		 	Title:	 	Director

 Schedule 2 

Authorised Persons of the Trustee 
  

			
	 Name
	 	 Title

		
	Donald Guire	 	Managing Director
	Giuseppe Rappa	 	Vice PresidentEXHIBIT 4.3

 Exhibit 4.3 

DOMINION RESOURCES, INC. 

Issuer 
 AND

 DEUTSCHE BANK TRUST COMPANY AMERICAS 

Series Trustee 
  

 
 Fortieth
Supplemental Indenture 
 Dated as of August 1, 2010 

 
  

$250,000,000 

2010 Series A 2.25% Senior Notes 

due 2015 

 TABLE OF CONTENTS* 

 

					
	ARTICLE I	  	 
	2010 SERIES A 2.25%	  	 
	SENIOR NOTES DUE 2015	  	
	SECTION 101.	 	Establishment	  	2
	SECTION 102.	 	Definitions	  	2
	SECTION 103.	 	Payment of Principal and Interest	  	5
	SECTION 104.	 	Denominations	  	6
	SECTION 105.	 	Global Securities	  	6
	SECTION 106.	 	Redemption	  	7
	SECTION 107.	 	Sinking Fund	  	7
	SECTION 108.	 	Additional Interest	  	7
	SECTION 109.	 	Paying Agent	  	7
	SECTION 110.	 	Limitation on Liens	  	7
		
	ARTICLE II	  	
	THE SERIES TRUSTEE	  	
			
	SECTION 201.	 	Appointment of Series Trustee	  	10
	SECTION 202.	 	Eligibility of Series Trustee	  	10
	SECTION 203.	 	Security Registrar and Paying Agent	  	10
	SECTION 204.	 	Concerning the Trustees	  	11
	SECTION 205.	 	Patriot Act Requirements of Series Trustee	  	11
		
	ARTICLE III	  	
	MISCELLANEOUS PROVISIONS	  	
			
	SECTION 301.	 	Recitals by Company	  	11
	SECTION 302.	 	Ratification and Incorporation of Base Indenture	  	11
	SECTION 303.	 	Executed in Counterparts	  	12
	SECTION 304.	 	Assignment	  	12

  

	*	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions.

 THIS FORTIETH SUPPLEMENTAL INDENTURE is made as of the first day of
August, 2010, by and between DOMINION RESOURCES, INC., a Virginia corporation, having its principal office at 120 Tredegar Street, Richmond, Virginia 23219 (the “Company”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking
corporation, as Trustee of the series of Securities established by this Fortieth Supplemental Indenture, having a corporate trust office at 60 Wall Street,
27th Floor, New York, New York 10005 (herein called the
“Series Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Company has heretofore entered into an Indenture dated as of June 1, 2000, between the Company and The Bank of New York
Mellon (successor to JPMorgan Chase Bank, N.A. (formerly known as The Chase Manhattan Bank)) (the “Original Trustee”), as supplemented and amended by the Thirty-Eighth Supplemental and Amending Indenture dated as of November 1, 2008
(as so amended, the “Base Indenture”), by and among the Company, the Original Trustee and the Series Trustee; 

WHEREAS, the Base Indenture is incorporated herein by this reference and the Base Indenture, as heretofore supplemented, as further
supplemented by this Fortieth Supplemental Indenture, and as may be hereafter supplemented or amended from time to time, is herein called the “Indenture”; 

WHEREAS, under the Base Indenture, a new series of Securities may at any time be established in accordance with the provisions of the
Base Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Series Trustee; 

WHEREAS, the Company proposes to create under the Indenture a new series of Securities and to appoint the Series Trustee as Trustee under
the Base Indenture with respect to such series of Securities; 
 WHEREAS, additional Securities of other series hereafter
established, except as may be limited in the Base Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and the Original Trustee will, unless and until
a Person other than the Original Trustee is appointed to act as Trustee with respect to the Securities of such series, serve as Trustee of such series; 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Fortieth Supplemental Indenture and to make it a valid
and binding obligation of the Company have been done or performed. 

 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for
other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 

ARTICLE I 

2010 SERIES A 2.25% SENIOR NOTES DUE 2015 

SECTION 101. Establishment. There is hereby established a new series of Securities to be issued under the Indenture, to be
designated as the Company’s 2010 Series A 2.25% Senior Notes due 2015 (the “Series A Senior Notes”). 
 There are
to be authenticated and delivered $250,000,000 principal amount of Series A Senior Notes, and such principal amount of the Series A Senior Notes may be increased from time to time pursuant to Section 301(2) of the Indenture. All Series A Senior
Notes need not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for issuances of additional Series A Senior Notes. Any such additional Series A Notes will have the same interest rate,
maturity and other terms as those initially issued. Further Series A Senior Notes may also be authenticated and delivered as provided by Sections 304, 305, 306, 905 or 1107 of the Base Indenture. 

The Series A Senior Notes shall be issued in definitive fully registered form without coupons, in substantially the form set out in
Exhibit A hereto. The entire initially issued principal amount of the Series A Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company. 

The form of the Series Trustee’s Certificate of Authentication for the Series A Senior Notes shall be in substantially the form set
forth in Exhibit B hereto. 
 Each Series A Senior Note shall be dated the date of authentication thereof and shall bear
interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 

SECTION 102. Definitions. The following defined terms used herein shall, unless the context otherwise requires, have the meanings
specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Base Indenture. 

“Adjusted Treasury Rate” means, with respect to any Redemption Date: (i) the yield, under the heading which represents the
average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System
and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no
maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Adjusted Treasury Rate will be interpolated or
extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate
per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price
for such Redemption Date. 
  

 2 

 “Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a
day on which banks in New York, New York are authorized or obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office of the Series Trustee is closed for business. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a
maturity comparable to the remaining term of the Series A Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the Remaining Life. 
 “Comparable Treasury Price” for any Redemption Date means (i) the
average of the Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such quotations. 
 “Corporate Trust Office of the
Series Trustee” means the office of the Series Trustee at which at any particular time its corporate trust business with respect to the series of Securities herein described shall be principally administered, which office at the date of
original execution of this Fortieth Supplemental Indenture is located at 60 Wall Street,
27th Floor, New York, New York 10005 (in addition copies
of correspondence are to be sent to Deutsche Bank National Trust Company for Deutsche Bank Trust Company Americas, 100 Plaza One,
6th Floor – MS JCY03-0699, Jersey City, New Jersey
07311-3901, Fax: 732-578-4635, Attention: Corporate Team). 
 “Independent Investment Banker” means any of Deutsche
Bank Securities Inc., Morgan Stanley & Co. Incorporated or UBS Securities LLC, and their respective successors as selected by the Company, or if any such firm is unwilling or unable to serve as such, an independent investment and banking
institution of national standing appointed by the Company. 
 “Interest Payment Dates” means March 1 and
September 1 of each year, commencing on March 1, 2011. 
 “Lien” means any mortgage, lien, pledge, security
interest or other encumbrance of any kind. 
 “Material Subsidiary” means a Subsidiary of the Company whose total
assets (as determined in accordance with GAAP) represent at least 20% of the total assets of the Company on a consolidated basis. 

“Original Issue Date” means September 2, 2010. 

“Outstanding”, when used with respect to the Series A Senior Notes, means, as of the date of determination, all Series A Senior
Notes, theretofore authenticated and delivered under the Indenture, except: 
 (i) Series A Senior Notes theretofore canceled by
the Series Trustee or delivered to the Series Trustee for cancellation; 
  

 3 

 (ii) Series A Senior Notes for whose payment at Maturity the necessary amount of money or
money’s worth has been theretofore deposited (other than pursuant to Section 402 of the Base Indenture) with the Series Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if
the Company shall act as its own Paying Agent) for the Holders of such Series A Senior Notes; 
 (iii) Series A Senior Notes
with respect to which the Company has effected defeasance or covenant defeasance has been effected pursuant to Section 402 of the Base Indenture; and 

(iv) Series A Senior Notes that have been paid pursuant to Section 306 of the Base Indenture or in exchange for or in lieu of which
other Series A Senior Notes have been authenticated and delivered pursuant to the Indenture, other than any such Series A Senior Notes in respect of which there shall have been presented to the Series Trustee proof satisfactory to it that such
Series A Senior Notes are held by a bona fide purchaser in whose hands such Series A Senior Notes are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding
Series A Senior Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders of Series A Senior Notes for quorum purposes, Series A Senior Notes owned by the Company or
any other obligor upon the Series A Senior Notes or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Series Trustee shall be protected in making any
such determination or relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Series A Senior Notes which the Series Trustee actually knows to be so owned shall be so disregarded. Series A Senior Notes so
owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Series Trustee (A) the pledgee’s right so to act with respect to such Series A Senior Notes and
(B) that the pledgee is not the Company or any other obligor upon the Series A Senior Notes or an Affiliate of the Company or such other obligor. 

“Principal Property” means any plant or facility of the Company located in the United States that in the opinion of the Board
of Directors or management of the Company is of material importance to the business conducted by the Company and its consolidated Subsidiaries taken as whole. 

“Reference Treasury Dealer” means: (i) Deutsche Bank Securities Inc., Morgan Stanley & Co. Incorporated or UBS
Securities LLC and their respective successors; provided that, if any such firm or its successors ceases to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company shall substitute
another Primary Treasury Dealer; and (ii) up to two other Primary Treasury Dealers selected 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 at
5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
  

 4 

 “Regular Record Date” means, with respect to each Interest Payment Date, the close
of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series A Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be the close of business on
the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date. 
 “Remaining Life” means
the remaining term of the Series A Senior Notes. 
 “Stated Maturity” means September 1, 2015. 

The terms “Company,” “Original Trustee,” “Series Trustee,” “Base Indenture,” and
“Indenture” shall have the respective meanings set forth in the recitals to this Fortieth Supplemental Indenture and the paragraph preceding such recitals. 

SECTION 103. Payment of Principal and Interest. The principal of the Series A Senior Notes shall be due at the Stated Maturity
(unless earlier redeemed). The unpaid principal amount of the Series A Senior Notes shall bear interest at the rate of 2.25% per annum until paid or duly provided for, such interest to accrue from the Original Issue Date or from the most recent
Interest Payment Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series A Senior Notes are registered on the Regular Record Date
for such Interest Payment Date; provided that interest payable at the Stated Maturity of principal, on a Redemption Date or a Repayment Date as provided herein will be paid to the Person to whom principal is payable. Any such interest that is not so
punctually paid or duly provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series A Senior Notes are registered at the close of business on a
Special Record Date for the payment of such defaulted interest to be fixed by the Series Trustee (in accordance with Section 307 of the Base Indenture), notice whereof shall be given to Holders of the Series A Senior Notes not less than ten
(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, if any, on which the Series A Senior Notes may be listed, and upon such notice as
may be required by any such exchange, all as more fully provided in the Base Indenture. 
 Payments of interest on the Series A
Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series A Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that
any date on which interest is payable on the Series A Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in
respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 

Payment of the principal and interest on the Series A Senior Notes shall be made at the office of the Paying Agent 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, with any such payment 

 

 5 

 
that is due at the Stated Maturity of any Series A Senior Notes, upon redemption or repurchase being made upon surrender of such Series A Senior Notes to the Paying Agent. Payments of interest
(including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the
Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Series Trustee at least sixteen (16) days prior to the date for payment by
the Person entitled thereto. In the event that any date on which principal and interest is payable on the Series A Senior Notes is not a Business Day, then payment of the principal and interest payable on such date will be made on the next
succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 

SECTION 104. Denominations. The Series A Senior Notes may be issued in denominations of $1,000, or any greater integral multiple
of $1,000. 
 SECTION 105. Global Securities. The Series A Senior Notes will be issued initially in the form of one or
more Global Securities registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee. Except under the limited circumstances described below, Series A Senior Notes represented by such Global Securities will
not be exchangeable for, and will not otherwise be issuable as, Series A Senior Notes in definitive form. The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or to a successor Depositary or its nominee. 
 Owners of
beneficial interests in such a Global Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global Security representing a Series A Senior Note shall be exchangeable, except for another Global Security of
like denomination and tenor to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee or except as described below. The rights of Holders of such Global Security shall be exercised only through the
Depositary. 
 A Global Security shall be exchangeable for Series A Senior Notes registered in the names of persons other than
the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company within 90
days of receipt by the Company of such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary and no
successor Depositary shall have been appointed by the Company within 90 days after it becomes aware of such cessation, or (ii) the Company in its sole discretion determines that such Global Security shall be so exchangeable, in which case
Series A Senior Notes in definitive form will be printed and delivered to the Depositary. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series A Senior Notes registered in such names as the
Depositary shall direct. 
  

 6 

 SECTION 106. Redemption. The Series A Senior Notes are redeemable, in whole or in
part, at any time, and at the option of the Company, at a Redemption Price equal to the greater of: 
 (i) 100% of the principal
amount of Series A Senior Notes then Outstanding to be so redeemed, or 
 (ii) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of 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 Adjusted Treasury Rate, plus 15 basis points, as calculated by an Independent Investment Banker, 
 plus, in either of the
above cases, accrued and unpaid interest thereon to the Redemption Date. 
 Unless the Company defaults in the payment of the
Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Series A Senior Notes or portions thereof called for redemption. 

The Adjusted Treasury Rate shall be calculated on the third Business Day preceding the Redemption Date. 

In the event of the redemption of the Series A Senior Notes in part only, a new Series A Senior Note or Notes for the unredeemed portion
will be issued in the name or names of the Holders thereof upon surrender thereof. 
 The Company shall notify the Series
Trustee of the Redemption Price promptly after the calculation thereof and the Series Trustee shall have no responsibility for such calculation. 

SECTION 107. Sinking Fund. The Series A Senior Notes shall not have a sinking fund. 

SECTION 108. Additional Interest. Any principal of and installment of interest on the Series A Senior Notes that is overdue shall
bear interest at the rate of 2.25% (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand.

 SECTION 109. Paying Agent. The Series Trustee shall initially serve as Paying Agent with respect to the Series A
Senior Notes, with the Place of Payment initially being the Corporate Trust Office of the Series Trustee. 
 SECTION 110.
Limitation on Liens. The Company will not, while any of the Series A Senior Notes remain Outstanding, create, or suffer to be created or to exist, any Lien upon any Principal Property of the Company or upon any shares of stock of any Material
Subsidiary of the Company, whether such Principal Property is, or shares of stock are, now 
  

 7 

 
owned or hereafter acquired, to secure any indebtedness for borrowed money of the Company, unless it shall make effective provision whereby the Series A Senior Notes then Outstanding shall be
secured by such Lien equally and ratably with any and all indebtedness for borrowed money thereby secured so long as any such indebtedness shall be so secured; provided, however, that nothing in this Section shall be construed to prevent the Company
from creating, or from suffering to be created or to exist, any Liens, or any agreements, with respect to: 
  

	 	(1)	purchase money mortgages, or other purchase money liens, pledges, security interests or encumbrances of any kind upon property hereafter acquired by the Company, or
Liens of any kind existing on any property or any shares of stock at the time of the acquisition thereof (including Liens which exist on any property or any shares of stock of a Person which is consolidated with or merged with or into the Company or
which transfers or leases all or substantially all of its properties to the Company), or conditional sales agreements or other title retention agreements and leases in the nature of title retention agreements with respect to any property hereafter
acquired; provided, however, that no such Lien shall extend to or cover any other property of the Company; 

  

	 	(2)	 Liens upon any property of the Company or any shares of stock of any Material Subsidiary of the Company existing as of the date of the initial issuance
of the Series A Senior Notes or upon the shares of stock of any corporation, which Liens existed at the time such corporation became a Material Subsidiary of the Company; liens for taxes or assessments or other governmental charges or levies;
pledges to secure other governmental charges or levies; pledges or deposits to secure obligations under worker’s compensation laws, unemployment insurance and other social security legislation, including liens of judgments thereunder which are
not currently dischargeable; pledges or deposits to secure performance in connection with bids, tenders, contracts (other than contracts for the payment of money) or leases to which the Company is a party; pledges or deposits to secure public or
statutory obligations of the Company; builders’, materialmen’s, mechanics’, carriers’, warehousemen’s, workers’, repairmen’s, operators’, landlords’ or other like liens in the ordinary course of business,
or deposits to obtain the release of such liens; pledges or deposits to secure, or in lieu of, surety, stay, appeal, indemnity, customs, performance or return-of-money bonds; other pledges or deposits for similar purposes in the ordinary course of
business; liens created by or resulting from any litigation or proceeding which at the time is being contested in good faith by appropriate proceedings; liens incurred in connection with the issuance of bankers’ acceptances and lines of credit,
bankers’ liens or rights of offset and any security given in the ordinary course of business to banks or others to secure any indebtedness payable on demand or maturing within 12 months of the date that such indebtedness is originally incurred;
liens incurred in connection with repurchase, swap or other similar agreements (including, without limitation, commodity price, currency exchange and interest rate protection agreements); leases made, or existing on property acquired, in the
ordinary course of business; liens securing industrial revenue or pollution control bonds; liens, pledges, security interests or other encumbrances on any property arising in connection with any defeasance, covenant defeasance or in-substance

  

 8 

	 	 
defeasance of indebtedness of the Company, including the Series A Senior Notes; liens created in connection with, and created to secure, a non-recourse obligation; zoning restrictions, easements,
licenses, rights-of-way, restrictions on the use of property or minor irregularities in title thereto, which do not, in the opinion of the Company, materially impair the use of such property in the operation of the business of the Company or the
value of such property for the purpose of such business; 

  

	 	(3)	Liens in favor of the United States, any foreign country or any department, agency or instrumentality or political subdivision of any such jurisdiction, to secure
partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of constructing or improving the property subject
to such mortgages, including, without limitation, mortgages to secure indebtedness of the pollution control or industrial revenue bond type; 

  

	 	(4)	indebtedness which may be issued by the Company in connection with a consolidation or merger of the Company or any Material Subsidiary of the Company with or into any
other Person (which may be an Affiliate of the Company or any Material Subsidiary of the Company) in exchange for or otherwise in substitution for secured indebtedness of such Person (“Third Party Debt”) which by its terms (i) is
secured by a mortgage on all or a portion of the property of such Person, (ii) prohibits secured indebtedness from being incurred by such Person, unless the Third Party Debt shall be secured equally and ratably with such secured indebtedness or
(iii) prohibits secured indebtedness from being incurred by such Person; 

  

	 	(5)	indebtedness of any Person which is required to be assumed by the Company in connection with a consolidation or merger of such Person, with respect to which any
property of the Company is subjected to a Lien; 

  

	 	(6)	Liens of any kind upon any property acquired, constructed, developed or improved by the Company (whether alone or in association with others) after the date of the
initial issuance of the Series A Senior Notes which are created prior to, at the time of, or within 18 months after such acquisition (or in the case of property constructed, developed or improved, after the completion of such construction,
development or improvement and commencement of full commercial operation of such property, whichever is later) to secure or provide for the payment of any part of the purchase price or cost thereof; provided that in the case of such construction,
development or improvement the Liens shall not apply to any property theretofore owned by the Company other than theretofore unimproved real property; 

  

	 	(7)	Liens in favor of the Company, one or more Material Subsidiaries of the Company, one or more wholly-owned Subsidiaries of the Company or any of the foregoing in
combination; 

  

 9 

	 	(8)	the replacement, extension or renewal (or successive replacements, extensions or renewals), as a whole or in part, of any Lien, or of any agreement, referred to above
in clauses (1) through (7) inclusive, or the replacement, extension or renewal (not exceeding the principal amount of indebtedness secured thereby together with any premium, interest, fee or expense payable in connection with any such
replacement, extension or renewal) of the indebtedness secured thereby; provided that such replacement, extension or renewal is limited to all or a part of the same property that secured the Lien replaced, extended or renewed (plus improvements
thereon or additions or accessions thereto); or 

  

	 	(9)	any other Lien not excepted by the foregoing clauses (1) through (8); provided that immediately after the creation or assumption of such Lien, the aggregate
principal amount of indebtedness for borrowed money of the Company secured by all Liens created or assumed under the provisions of this clause (9) shall not exceed an amount equal to 10% of the common shareholders’ equity of the Company,
as shown on its consolidated balance sheet for the accounting period occurring immediately prior to the creation or assumption of such Lien. 

This Section 110 has been included in this Fortieth Supplemental Indenture expressly and solely for the benefit of the Series A
Senior Notes and shall be subject to covenant defeasance pursuant to Section 402(3) of the Base Indenture. 
 ARTICLE II

 THE SERIES TRUSTEE 

SECTION 201. Appointment of Series Trustee. Pursuant to the Base Indenture and pursuant to this Fortieth Supplemental Indenture,
the Company hereby appoints the Series Trustee as Trustee under the Base Indenture with respect to the Series A Senior Notes, and by execution hereof the Series Trustee accepts such appointment. Pursuant to the Base Indenture, all the rights,
powers, trusts and duties of the Original Trustee under the Base Indenture shall be vested in the Series Trustee with respect to the Series A Senior Notes, there shall continue to be vested in the Original Trustee all of its rights, powers, trusts
and duties as Trustee under the Base Indenture with respect to all of the series of Securities as to which it has served and continues to serve as Trustee, and the Original Trustee shall have no rights, powers, trusts and duties with respect to the
Series A Senior Notes. 
 SECTION 202. Eligibility of Series Trustee. The Series Trustee hereby represents that it is
qualified and eligible under the provisions of the Trust Indenture Act and Section 608 of the Base Indenture and the provisions of the Trust Indenture Act to accept its appointment as Trustee with respect to the Series A Senior Notes under the
Base Indenture and hereby accepts the appointment as such Trustee. 
 SECTION 203. Security Registrar and Paying Agent.
Pursuant to the Base Indenture, the Company hereby appoints Deutsche Bank Trust Company Americas as “Security Registrar” and “Paying Agent” with respect to the Series A Senior Notes. 

 

 10 

 SECTION 204. Concerning the Trustees. Neither the Original Trustee nor the Series
Trustee assumes any duties, responsibilities or liabilities by reason of this Fortieth Supplemental Indenture other than as set forth in the Base Indenture and, in carrying out its responsibilities hereunder, each shall have all of the rights,
powers, privileges, protections, duties and immunities which it possesses under the Base Indenture. The Original Trustee and the Series Trustee shall not constitute co-trustees of the same trust, and each of the Original Trustee and the Series
Trustee shall be trustee of a trust or trusts under the Indenture separate and apart from any trust or trusts under the Indenture administered by the other trustee. The Original Trustee shall have no liability for any acts or omissions of the Series
Trustee and the Series Trustee shall have no liability for any acts or omissions of the Original Trustee. 
 References in this
Fortieth Supplemental Indenture to sections of the Base Indenture that require or permit actions by the Original Trustee with respect to Securities of the series established hereby shall be deemed to require or permit actions only by the Series
Trustee and the Original Trustee shall have no responsibility therefor. 
 SECTION 205. Patriot Act Requirements of Series
Trustee. To help the United States government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an
account or establishes a relationship. For a non-individual person such as a business entity, a charity, a trust, or other legal entity, the Series Trustee will ask for documentation to verify such non-individual person’s formation and
existence as a legal entity. The Series Trustee may also seek to see financial statements, licenses, identification and authorization documents from individuals claiming authority to represent the entity or other relevant documentation. 

ARTICLE III 

MISCELLANEOUS PROVISIONS 

SECTION 301. Recitals by Company. The recitals in this Fortieth Supplemental Indenture are made by the Company only and not by the
Original Trustee or the Series Trustee, and all of the provisions contained in the Base Indenture in respect of the rights, powers, privileges, protections, duties and immunities of the Original Trustee shall be applicable, but only to the Series
Trustee in respect of the Series A Senior Notes and of this Fortieth Supplemental Indenture (to the extent relating to the Series A Senior Notes) as fully and with like effect as if set forth herein in full. 

SECTION 302. Ratification and Incorporation of Base Indenture. As supplemented hereby, the Base Indenture is in all respects
ratified and confirmed by the Company and, with respect to the Securities for which the Series Trustee has been appointed as Trustee, including the Series A Senior Notes, by the Series Trustee. The Base Indenture and this Fortieth Supplemental
Indenture shall be read, taken and construed as one and the same instrument. 
  

 11 

 SECTION 303. Executed in Counterparts. This Fortieth Supplemental Indenture may be
executed in several counterparts, each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 

SECTION 304. Assignment. The Company shall have the right at all times to assign any of its rights or obligations under the
Indenture with respect to the Series A Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in the event of any such assignment, the Company shall remain primarily liable for the performance of all such
obligations. The Indenture may also be assigned by the Company in connection with a transaction described in Article Eight of the Base Indenture. 
  

 12 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name
and behalf by its duly authorized officer, all as of the day and year first above written. 
  

			
	DOMINION RESOURCES, INC.
		
	By:	 	 /s/ James P. Carney

	Name:	 	James P. Carney
	Title:	 	Vice President and Assistant Treasurer
	
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Series Trustee

 
 By: DEUTSCHE BANK NATIONAL TRUST

       COMPANY

		
	By:	 	 /s/ Kenneth R. Ring

	Name:	 	Kenneth R. Ring
	Title:	 	Vice President
		
	By:	 	 /s/ David Contino

	Name:	 	David Contino
	Title:	 	Vice President

  

 13 

 EXHIBIT A 

FORM OF 

2010 SERIES A 2.25% SENIOR NOTE 

DUE 2015 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW
YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, [CEDE & CO.], HAS AN INTEREST HEREIN.]**

 [THIS SERIES A SENIOR NOTE 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 SERIES A SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES A SENIOR NOTE 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.]** 
  

					
		 	  

DOMINION RESOURCES, INC.
  
	 	

 $         

2010 SERIES A 2.25% SENIOR NOTE 

DUE 2015 
  

			
	No. R-	  	CUSIP No. 25746U BJ7

Dominion Resources, Inc., a corporation duly organized and existing under the laws of Virginia (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 “Holder”), the principal sum of
                     Dollars ($        ) on September 1, 2015 and to pay interest
thereon from September 2, 2010 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on March 1 and September 1 of each year, commencing on March 1, 2011, at
the rate of 2.25% per annum, until the principal hereof is paid or made available for payment, provided that any principal, and any such installment of interest, that is overdue shall 

 
  

	**	 Insert in Global Securities. 

 
bear interest at the rate of 2.25% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made
available for payment, and such interest shall be payable on demand. 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 Series
A Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; provided that the interest payable at Stated Maturity, on a Redemption Date or Repayment Date will be paid to
the Person to whom principal is payable. The Regular Record Date shall be the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series A Senior Notes that are not represented by one or more
Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) 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 Series A Senior 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 Series Trustee, notice whereof shall be given to Holders of Series A Senior Notes 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 Series A Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payments of interest on the Series A Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates.
Interest payments for the Series A Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on the Series A Senior Notes is not a Business Day, then
payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the
payment was originally payable. 
 Payment of the principal of and interest on this Series A Senior Note will be made at the
office of the Paying Agent, in the Borough of Manhattan, City and State 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, with any such payment
that is due at the Stated Maturity of any Series A Senior Note, upon redemption or repurchase being made upon surrender of such Series A Senior Note to such office or agency; provided, however, that at the option of the Company payment of interest,
subject to such surrender where applicable, may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a
banking institution in the United States as may be designated in writing to the Series Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. 

Reference is hereby made to the further provisions of this Series A Senior 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. 
  

 2 

 Unless the certificate of authentication hereon has been executed by the Series Trustee
referred to on the reverse hereof by manual signature, this Series A Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

 

							
	 Dated:
	 		 	DOMINION RESOURCES, INC.
				
		 		 	By:	 	  

		 		 	Name:	 	  

		 		 	Title:	 	  

  

 3 

 [REVERSE OF 2010 SERIES A 2.25% SENIOR 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 June 1, 2000, between the Company and The Bank of New York Mellon (successor to JPMorgan Chase Bank, N.A. (formerly known as The Chase Manhattan Bank)) (the “Original
Trustee”), as supplemented and amended by the Thirty-Eighth Supplemental and Amending Indenture dated as of November 1, 2008 (as so amended, the “Base Indenture”), by and among the Company, the Original Trustee and Deutsche Bank
Trust Company Americas as Series Trustee, as heretofore supplemented and as further supplemented by a Fortieth Supplemental Indenture dated as of August 1, 2010 (the “Fortieth Supplemental Indenture” and together with the Base
Indenture, as it may be hereafter supplemented or amended from time to time, the “Indenture,” which term shall have the meaning assigned to it in such instrument), by and between the Company and Deutsche Bank Trust Company Americas, as
Trustee of the series of Securities established thereby (herein called the “Series Trustee,” which term includes any successor series trustee for the Series A Senior Notes under the Indenture) 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 Original Trustee, the Series 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 (the “Series A Senior Notes”) which is unlimited in aggregate principal amount. 

The Series A Senior Notes are redeemable, in whole or in part, at any time, in the manner and with the effect provided in the Indenture.

 If an Event of Default with respect to Series A Senior Notes shall occur and be continuing, the principal of the Series A
Senior Notes 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 for the series of Securities affected, 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 certain past defaults under the Indenture
and their consequences. Any such consent or waiver by the Holder of this Series A Senior Note shall be conclusive and binding upon such Holder and upon all future Holders of this Series A Senior Note and of any Series A Senior Note issued upon the
registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Series A Senior Note. 

As provided in and subject to the provisions of the Indenture, the Holder of this Series A Senior Note 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 Series Trustee written notice of a continuing Event of

  

 4 

 
Default with respect to the Series A Senior Notes, the Holders of not less than a majority in principal amount of the Series A Senior Notes at the time Outstanding shall have made written request
to the Series Trustee to institute proceedings in respect of such Event of Default as Series Trustee and offered the Series Trustee reasonable indemnity, and the Series Trustee shall not have received from the Holders of a majority in principal
amount of Series A Senior Notes at the time Outstanding a direction inconsistent with such request, and 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 Series A Senior Note for the enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or provided for herein.

 No reference herein to the Indenture and no provision of this Series A Senior Note or of the Indenture shall alter or impair
the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Series A Senior Note 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 Series A Senior Note is
registrable in the Security Register, upon surrender of this Series A Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this Series A Senior Note 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 Series A Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Series A Senior Notes are issuable only in registered form without coupons in denominations of $1,000 and any greater integral
multiple of $1,000. As provided in the Indenture and subject to certain limitations therein set forth, Series A Senior Notes are exchangeable for a like aggregate principal amount of Series A Senior Notes having the same Stated Maturity and of like
tenor of any authorized denominations as requested by the Holder upon surrender of the Series A Senior Note or Series A Senior Notes to be exchanged at the office or agency of the Company. 

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
Series A Senior Note for registration of transfer, the Company, the Series Trustee and any agent of the Company or the Series Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not
this Series A Senior Note be overdue, and neither the Company, the Series Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Series A Senior Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture.

  

 5 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations: 
  

			
	TEN COM -	  	as tenants in common
		
	TEN ENT -	  	as tenants by the entireties
		
	JT TEN -	  	as joint tenants with rights of survivorship and not as tenants in common
		
	UNIF GIFT MIN ACT -	  	                             
                                         
               Custodian for
		  	(Cust)
		
		  	                             
                                         
              
		  	(Minor)
		
		  	Under Uniform Gifts to Minors Act of
		
		  	                             
                                         
              
		  	(State)
	
	Additional abbreviations may also be used though not on the above list.
	                           
                                         
                                         
                                         
                                         
                                         
                     

  

 6 

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

___________________________________________________________________________________________________.         
   
 (please insert Social Security or other identifying number of assignee) 

___________________________________________________________________________________________________.         
   

___________________________________________________________________________________________________.         
   

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

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

___________________________________________________________________________________________________.         
   

___________________________________________________________________________________________________.         
   

___________________________________________________________________________________________________.         
   

___________________________________________________________________________________________________.         
   

___________________________________________________________________________________________________.         
   

___________________________________________________________________________________________________.         
   
  
 agent to transfer said Series A Senior Note on the
books of the Company, with full power of substitution in the premises. 
  

	
	Dated:             ,         

 

			
	  
	 	

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within
instrument in every particular without alteration or enlargement, or any change whatever. 
  

 7 

 EXHIBIT B 

CERTIFICATE OF AUTHENTICATION 

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

 

			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Series Trustee

 
 By: DEUTSCHE BANK NATIONAL

       TRUST COMPANY

		
	By:	 	  

		 	Authorized Signatory

  

 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]