Document:

Second Supplemental Indenture

 Exhibit 4.1 
 Execution Copy 
  

 SUPPLEMENTAL INDENTURE 
 among 
 MELLON FINANCIAL CORPORATION 
 THE BANK OF NEW
YORK 
 (as successor to The Chase Manhattan Bank) 
 as Original Trustee 
 and 
 MANUFACTURERS AND TRADERS TRUST COMPANY 
 as Series Trustee 
 Dated as of June 19, 2007 
 Supplement to
Junior Subordinated Indenture, dated as of December 3, 1996 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	
	ARTICLE I
	
	Definitions
			
	 Section 1.1
	  	Definitions	  	2
	
	ARTICLE II
	
	Appointment of and Acceptance by Series Trustee
			
	 Section 2.1
	  	Appointment of Series Trustee	  	7
	 Section 2.2
	  	Acceptance of Appointment	  	7
	
	ARTICLE III
	
	Amendment of Section 3.5 of Indenture
			
	 Section 3.1
	  	Amendment of Section 3.5	  	8
	
	ARTICLE IV
	
	General Terms and Conditions of the Notes
			
	 Section 4.1
	  	Designation, Principal Amount and Authorized Denomination	  	8
	 Section 4.2
	  	Maturity	  	8
	 Section 4.3
	  	Form and Payment	  	8
	 Section 4.4
	  	Notes Held by Collateral Agent and Custodial Agent; Global Notes; Adjustment of Global Notes	  	9
	 Section 4.5
	  	Interest	  	10
	 Section 4.6
	  	Redemption of the Notes	  	11
	 Section 4.7
	  	Events of Default	  	11
	 Section 4.8
	  	Securities Registrar; Paying Agent; Delegation of Trustee Duties	  	12
	 Section 4.9
	  	Amendment; Supplemental Indenture	  	12
	
	ARTICLE V
	
	Remarketing and Rate Reset Procedures
			
	 Section 5.1
	  	Obligation to Conduct Remarketing and Related Requirements	  	13
	 Section 5.2
	  	Company Decisions in Connection with Remarketing	  	14
	 Section 5.3
	  	Reset of Interest Rate in Connection with Remarketings and Related Changes in Terms	  	15
	 Section 5.4
	  	Early Remarketing	  	16
	 Section 5.5
	  	Company Announcements	  	16
	 Section 5.6
	  	Supplemental Indenture	  	17

  

 SUPPLEMENTAL INDENTURE 

					
	
	ARTICLE VI
	
	Expenses
			
	 Section 6.1
	  	Expenses	  	17
	
	ARTICLE VII
	
	Form of Note
			
	 Section 7.1
	  	Form of Notes	  	18
	
	ARTICLE VIII
	
	Original Issue of Notes
			
	 Section 8.1
	  	Original Issue of Notes	  	25
	 Section 8.2
	  	Calculation of Original Issue Discount	  	25
	
	ARTICLE IX
	
	Subordination
			
	 Section 9.1
	  	Subordinated	  	25
	 Section 9.2
	  	Company Election to End Subordination	  	25
	 Section 9.3
	  	Compliance with Federal Reserve Rules	  	25
	 Section 9.4
	  	Extension of Rights, Privileges, etc.	  	25
	
	ARTICLE X
	
	Miscellaneous
			
	 Section 10.1
	  	Effectiveness	  	27
	 Section 10.2
	  	Successors and Assigns	  	27
	 Section 10.3
	  	Further Assurances	  	27
	 Section 10.4
	  	Effect of Recitals	  	27
	 Section 10.5
	  	Ratification of Indenture	  	27
	 Section 10.6
	  	Governing Law	  	27

  

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 SUPPLEMENTAL INDENTURE 

 This SUPPLEMENTAL INDENTURE, dated as of
June 19, 2007, among MELLON FINANCIAL CORPORATION (formerly known as “Mellon Bank Corporation”), a Pennsylvania corporation (the “Company”), having
its principal office at One Mellon Center, 500 Grant Street, Pittsburgh, Pennsylvania 15258, MANUFACTURERS AND TRADERS TRUST COMPANY, a New York banking
corporation, as trustee (the “Series Trustee”), having its principal office at 25 South Charles Street-16th Floor, Baltimore, MD 21201, and THE BANK OF NEW
YORK (as successor to The Chase Manhattan Bank), as Original Trustee (the “Original Trustee”). 
 RECITALS OF THE COMPANY 
 The Company and the Original Trustee
are parties to that certain Junior Subordinated Indenture, dated as of December 3, 1996, as amended and supplemented by a Supplemental Indenture, dated as of September 19, 2006, among the Company, JP Morgan Chase Bank, N.A., as original
trustee, and U.S. Bank National Association, as series trustee (as so supplemented, the “Indenture”). 
 Section 9.1(8)
of the Indenture provides that the Indenture may be amended or supplemented without the consent of any Holder to evidence and provide for the acceptance of appointment by a Series Trustee with respect to the Securities of one or more series under
the Indenture. 
 Section 9.1(6) of the Indenture provides that the Indenture may be amended or supplemented without the consent of any
Holder to add to, change or eliminate any of the provisions of the Indenture, provided that any such addition, change or elimination shall become effective only when there is no Security Outstanding of any series created prior to the
execution of such supplemental indenture that is entitled to the benefit of such provision. 
 Section 9.1(3) of the Indenture provides
that the Indenture may be amended or supplemented without the consent of any Holder to establish the form or terms of Securities of any series as provided by Sections 2.1 and 3.1 of the Indenture. 
 The Company has delivered to the Series Trustee and the Original Trustee an Opinion of Counsel and an Officers’ Certificate pursuant to
Section 1.2 of the Indenture to the effect that all conditions precedent provided for in the Indenture to their execution and delivery of this Supplemental Indenture have been complied with. 
 Mellon Capital IV, a Delaware statutory trust (the “Issuer Trust”), has offered to the public its trust preferred securities known as
6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities (the “Normal PCS”), which are beneficial interests in the Issuer Trust, and proposes to invest the proceeds from such offering, together with the proceeds of the
issuance and sale by the Issuer Trust to the Company of its Common Securities (the “Trust Common Securities” and together with the Normal PCS, the Stripped PCS and the Capital PCS, each as defined in the Trust Agreement referred to
herein, the “Trust Securities”), in the Notes (as defined herein). 
 The Notes will be subject to Remarketing, in
connection with which certain terms of the Notes may be changed, all in accordance with the procedures to be set forth in a Remarketing Agreement, to be entered into prior to the first Remarketing (as amended or supplemented from time to time, the
“Remarketing Agreement”), among the Company, Manufacturers and Traders Trust Company, as property trustee of the Issuer Trust, and the remarketing agent named in the Remarketing Agreement (including any successor or replacement, the
“Remarketing Agent”). 
 The Company has requested that the Original Trustee enter into this Supplemental Indenture for the
purpose of appointing the Series Trustee with all the rights, privileges, powers, trusts and duties of the Original Trustee with respect to, and only with respect to, the Company’s Remarketable 6.044% Junior Subordinated Notes due 2043 to be
established hereby. 
  

 SUPPLEMENTAL INDENTURE 

 The Company has requested that the Series Trustee and the Original Trustee execute and deliver this
Supplemental Indenture and has satisfied (or caused to be satisfied) all requirements necessary to make this Supplemental Indenture a valid instrument in accordance with its terms, and to make the Notes, when executed by the Company and
authenticated and delivered by the Series Trustee, the valid obligations of the Company and all acts and things necessary have been done and performed to make this Supplemental Indenture enforceable in accordance with its terms, and the execution
and delivery of this Supplemental Indenture has been duly authorized in all respects. 
 NOW, THEREFORE,
THIS SUPPLEMENTAL INDENTURE WITNESSETH: For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the
equal and proportionate benefit of all Holders of the Notes, as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1
Definitions. 
 For all purposes of this Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise
requires: 
 (a) Terms defined in the Indenture, the Trust Agreement or the Stock Purchase Contract Agreement have the same meaning when used
in this Supplemental Indenture unless otherwise specified herein. 
 (b) The terms defined in this Article have the meanings assigned to them
in this Article, and include the plural as well as the singular. 
 (c) The words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision, and any reference to an Article, Section or other subdivision refers to an
Article, Section or other subdivision of this Supplemental Indenture. 
 “Capital Treatment Event” means the reasonable
determination by the Company that, as a result of: 
 (a) the occurrence of any amendment to, or change, including any announced prospective
change, in the laws or regulations of the United States or any political subdivision thereof or therein or any rules, guidelines or policies of the Federal Reserve, or 
 (b) any official or administrative pronouncement or action or judicial decision interpreting or applying United States laws or regulations, that is effective or is announced on or after the date of issuance of the
Normal PCS, 
 there is more than an insubstantial risk that the Company will not be entitled to treat an amount equal to the liquidation amount of the
Normal PCS at any time prior to the Stock Purchase Date as Tier 1 capital under the risk-based capital adequacy guidelines of the Federal Reserve. 
  

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 SUPPLEMENTAL INDENTURE 

 “Creditor” has the meaning specified in Section 6.1(b). 
 “Early Remarketing” has the meaning specified in Section 5.4. 
 “Early Settlement Event” means the occurrence of: (i) the Company’s “total risk-based capital ratio” is less than
10%, (ii) the Company’s “Tier 1 risk-based capital ratio” is less than 6%, (iii) the Company’s “leverage capital ratio” is less than 4%; (iv) the Federal Reserve, in its discretion, anticipates that the
Company may fail one or more of the capital tests referred to above in the near term and delivers a notice to the Company so stating; or (v) the Issuer Trust is dissolved pursuant to Section 9.2(c) of the Trust Agreement, where the related
Early Settlement Event in the case of the tests described in each of (i), (ii) and (iii) above will be deemed to occur on the date the Company files a Form FR Y-9 showing in Schedule HC-R (or successor form) that the related capital
measure has been failed and each such ratio will be determined as required pursuant to Appendix A to Regulation Y of the Federal Reserve Board, 12 C.F.R. Part 225. 
 “Early Termination Event” means the dissolution of the Issuer Trust and the distribution of the Notes held by or on behalf of the Issuer
Trust to the holders of the Trust Securities in accordance with Section 9.4 of the Trust Agreement. 
 “Failed
Remarketing” means a Final Remarketing that is not Successful. 
 “Final Remarketing” means (i) a Remarketing
for a settlement date on May 21, 2013 (or if such day is not a Business Day, the immediately succeeding Business Day), (ii) in the case of an Early Remarketing, the fifth scheduled Remarketing or (iii) in the case of an Early
Remarketing in connection with clause (v) of the definition of Early Settlement Event, the first Remarketing. 
 “Fixed Rate
Reset Cap”, as of any Remarketing Settlement Date, means the prevailing market yield, as determined by the Remarketing Agent, of the benchmark U.S. treasury security having a remaining maturity that most closely corresponds to the period
from such date until the earliest date on which the Notes may be redeemed at the option of the Company in the event of a Successful Remarketing, plus 350 basis points, or 3.50% per annum. 
 “Floating Rate Reset Cap” means 300 basis points, or 3.00% per annum. 
 “Global Notes” has the meaning specified in Section 4.4. 
 “Guarantee Agreement” means the Guarantee Agreement between the Company, as Guarantor and Manufacturers and Traders Trust Company, as
Guarantee Trustee named thereunder, dated as of June 19, 2007. 
 “Interest Payment Date” shall have the meaning
specified in Section 7.1. 
 “Interest Period” means the period from and including the most recent Interest Payment
Date to which interest has been paid or duly made available for payment (or June 19, 2007 if no interest has been paid or been duly made available for payment) to, but excluding, the next succeeding Interest Payment Date or, if earlier, then
the Stated Maturity Date of the Notes. 
 “Investment Company Event” means the Company’s receipt of an Opinion of
Counsel to the effect that, as a result of the occurrence of a change in law or regulation or a written change, including any announced prospective change, in interpretation or application of law or regulation by any legislative body, court,
governmental agency or regulatory authority, there is more than an insubstantial risk that the Issuer Trust is or will be considered an investment company that is required to be registered under the 

  

 -3- 
 SUPPLEMENTAL INDENTURE 

 
Investment Company Act at any time prior to the Stock Purchase Date, and this change becomes effective or would become effective on or after the date hereof
(or, if the Company elects to remarket the Notes in the form of trust preferred securities, that the issuer of such trust preferred securities is or will be considered an investment company that is required to be registered under the Investment
Company Act and this change becomes effective or would become effective on or after the Remarketing Settlement Date). 
 “Make-Whole
Amount” means the sum of the present values of the principal amount of the Notes and each interest payment thereon that would have been payable to and including the Relevant Date (not including any portion of such payments of interest
accrued as of the date of redemption), discounted from the Relevant Date or the applicable interest payment date to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to
the Treasury Rate plus .50%. 
 “Notes” has the meaning specified in Section 4.1. 
 “Paying Agent”, when used with respect to the Notes, means The Bank of New York or any other Person authorized by the Company to pay the
principal of (and premium, if any) or interest on any Securities on behalf of the Company. 
 “Paying Agent Office” means
the office of the applicable Paying Agent at which at any particular time its corporate agency business shall principally be administered in a Place of Payment, which office at the date hereof in the case of The Bank of New York, in its capacity as
Paying Agent with respect to the Notes under the Indenture and this Supplemental Indenture, is located at 101 Barclay Street, 8W, New York, New York 10286, Attention: Corporate Trust Division — Corporate Finance Unit. 
 “PCS” means each of the Normal PCS, the Stripped PCS and the Capital PCS. 
 “Preferred Stock” means the Non-Cumulative Perpetual Preferred Stock, Series L, $100,000 liquidation preference per share, of the
Company. 
 “qualified floating rate” has the meaning specified in Section 5.3(a)(iii). 
 “Rating Agency” means any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the
Exchange Act that currently publishes a rating for the Company. 
 “Rating Agency Event” means any Rating Agency amends,
clarifies or changes the criteria it uses to assign equity credit to securities such as the PCS, which amendment, clarification or change results in: 
 (a) the shortening of the length of time prior to the Stock Purchase Date that the PCS are assigned a particular level of equity credit by that Rating Agency as compared to the length of time they would have been
assigned that level of equity credit by that Rating Agency or its predecessor on the date hereof; or 
 (b) the lowering of the equity credit
(including up to a lesser amount) assigned to the PCS prior to the Stock Purchase Date by that Rating Agency as compared to the equity credit assigned by that Rating Agency or its predecessor on the date hereof. 
 “Released Note” has the meaning specified in Section 4.4(d). 
  

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 SUPPLEMENTAL INDENTURE 

 “Relevant Date” means June 20, 2012 in the case of any redemption prior to such
date, June 20, 2013 in the case of any redemption on or after June 20, 2012 and prior to June 20, 2013 if the Stock Purchase Date shall not have occurred on or prior to June 20, 2012, and otherwise June 20, 2016. 

“Remarketed Note” has the meaning specified in Section 4.4(c). 
 “Remarketing” means a remarketing of Notes pursuant to ARTICLE V and the Remarketing Agreement. 
 “Remarketing Disruption Event” means there shall have occurred an event that, if not disclosed in the offering document for the
Remarketing, could cause such offering document to contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, and either (i) in the
Company’s judgment, such event is not required by law to be disclosed at such time and its disclosure might have a material adverse effect on the Company’s business, or (ii) the disclosure of such event relates to a previously
undisclosed proposed or pending material business transaction, the disclosure of which would impede the Company’s ability to consummate such transaction. 
 “Remarketing Period” means the five Business Day Period beginning on the seventh Business Day preceding each of May 21, 2012, August 21, 2012, November 20, 2012,
February 18, 2013 and May 21, 2013 (or, if any such day is not a Business Day, the preceding Business Day) until the settlement of a Successful Remarketing or, if an Early Settlement Event shall have occurred, each of the periods
determined in accordance with Section 5.4. 
 “Remarketing Settlement Date” means the
February 18, May 21, August 21 or November 20 following a Successful Remarketing (or, if any such day is not a Business Day, the preceding Business Day). 
 “Remarketing Value” means with respect to each Note, the present value on the Remarketing Settlement Date of an amount equal to the
principal amount of such Note, plus the interest payable on such Note on the next Regular Distribution Date, including any deferred interest, assuming for this purpose, even if not true, that the interest rate on the Notes remains at the rate in
effect immediately prior to the Remarketing and all accrued and unpaid interest on the Notes is paid in cash on such date, determined using a discount rate of 5.630% per annum. 
 “Reset Rate” means, if the Notes are remarked as fixed rate notes, the rate of interest on the Notes, if any, set in a Remarketing, as
specified in Section 5.3(a). 
 “Reset Spread” means, if the Notes are remarked as floating rate notes, the spread, if
any, set in a Remarketing, as specified in Section 5.3(a). 
 “Responsible Officer” means, when used with respect to
The Bank of New York in its capacity as Paying Agent with respect to the Notes, any officer within the Corporate Trust Division – Corporate Trust Unit (or any successor department, unit or division of The Bank of New York) assigned to the
Paying Agent Office of The Bank of New York, in its capacity as Paying Agent, who has direct responsibility for the administration of the Paying Agent functions of the Indenture and this Supplemental Indenture. 
 “Securities Registrar Office” means the office of the applicable Securities Registrar at which at any particular time its corporate
agency business shall principally be administered, which office at the date hereof in the case of The Bank of New York, in its capacity as Securities Registrar under the Indenture, is located at 101 Barclay Street, 8W, New York, New York 10286,
Attention: Corporate Trust Division—Corporate Finance Unit. 
  

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 SUPPLEMENTAL INDENTURE 

 “Stated Maturity Date” means June 20, 2043 or such earlier date as may be specified
by the Company following a Remarketing in accordance with ARTICLE V. 
 “Stock Purchase Contract Agreement” means the Stock
Purchase Contract Agreement, dated as of June 19, 2007, between the Company and the Issuer Trust (acting through the Property Trustee). 
 “Subjected Note” has the meaning specified in Section 4.4(e). 
 “Successful” has the meaning
specified in Section 5.5(a). 
 “Supplemental Indenture” means this instrument as originally executed or as it may form
time to time be supplemented or amended by one or more agreements supplemental hereto entered into pursuant to the applicable provisions hereof. 
 “Tax Event” means the Company has received an Opinion of Counsel to the effect that, as a result of: 
 (a) an
amendment to or change (including any announced prospective change) in the laws or regulations of the United States or any political subdivision or taxing authority of or in the United States that is enacted or becomes effective after the date
hereof; 
 (b) a proposed change in those laws or regulations that is announced after the date hereof; 
 (c) an official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws
or regulations that is announced after the date hereof; or 
 (d) a threatened challenge asserted in connection with an audit of the Trust,
the Company or the Company’s subsidiaries, or a threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are substantially similar to the Notes or the PCS; 

there is more than an insubstantial increase in risk that: 
 (i) the Issuer Trust (or, if the Company elects to remarket the Notes in the form of trust preferred securities, the trust issuing such securities) is, or will be, subject to United States federal income tax with respect to income received
or accrued on the Notes; 
 (ii) interest payable by the Company on the Notes is not, or will not be, deductible by the Company, in whole or
in part, for United States federal income tax purposes; or 
 (iii) the Issuer Trust (or, if the Company elects to remarket the Notes in the
form of trust preferred securities, the trust issuing such securities) is, or will be, subject to more than an insignificant amount of other taxes, duties or other governmental charges at any time it is the holder of the Notes. 
 “Treasury Dealer” means Goldman, Sachs & Co. (or its successor) or, if Goldman, Sachs & Co. (or its successor) refuses
to act as treasury dealer for this purpose or ceases to be a primary U.S. Government securities dealer, another nationally recognized investment banking firm that is a primary U.S. Government securities dealer specified by the Company for these
purposes. 
  

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 SUPPLEMENTAL INDENTURE 

 “Treasury Price” means the bid-side price for the Treasury Security as of the third
trading day preceding the Redemption Date, as set forth in the daily statistical release (or any successor release) published by the Wall Street Journal, except that: (i) if that release (or any successor release) is not published or does not
contain that price information on that trading day; or (ii) if the Treasury Dealer determines that the price information is not reasonably reflective of the actual bid-side price of the Treasury Security prevailing at 3:30 p.m., New York
City time, on that trading day, then Treasury Price will instead mean the bid-side price for the Treasury Security at or around 3:30 p.m., New York City time, on that trading day (expressed on a next trading day settlement basis) as determined
by the Treasury Dealer through such alternative means as the Treasury Dealer considers to be appropriate under the circumstances. 
 “Treasury Rate” means the semi-annual equivalent yield to maturity of the Treasury Security that corresponds to the Treasury Price (calculated in accordance with standard market practice and computed as of the second
trading day immediately preceding the Redemption Date). 
 “Treasury Security” means the United States Treasury security
that the Treasury Dealer determines would be appropriate to use, at the time of determination and in accordance with standard market practice, in pricing the Notes being redeemed in a tender offer based on a spread to United States Treasury yields.

 “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of June 19, 2007, among the Company, as
Sponsor, the Property Trustee, the Delaware Trustee, the Administrative Trustees (each as named therein) and the several Holders of the Trust Securities. 
 “Unsuccessful” has the meaning specified in Section 5.5(b). 
 “Underwriting
Agreement” means the Underwriting Agreement, dated June 12, 2007, among the Issuer Trust, the Company, and the underwriters named therein. 
 ARTICLE II 
 APPOINTMENT OF AND
ACCEPTANCE BY SERIES TRUSTEE 
 Section 2.1 Appointment of Series Trustee. 

Pursuant to Section 3.1(t) of the Indenture, the Company hereby appoints the Series Trustee as a Trustee under the Indenture with respect to, and
only with respect to, the Notes. Pursuant to Section 6.15 of the Indenture, the Company vests all the rights, privileges, powers, trusts and duties of a Trustee under the Indenture to the Series Trustee with respect to the Notes and there shall
continue to be vested in the Original Trustee all of its rights, powers, trusts and duties as a Trustee under the Indenture with respect to all of the series of Securities to which it has served and continues to serve as a Trustee under the
Indenture. 
 Section 2.2 Acceptance of Appointment. 
 The Series Trustee hereby represents that it is qualified and eligible under the provisions of Section 6.9 of the Indenture and the provisions of the Trust Indenture Act of 1939, as amended, to accept its
appointment as a Trustee with respect to the Notes under the Indenture and hereby accepts the appointment as such Trustee. The parties hereto agree that the Series Trustee’s execution and delivery of this Supplemental Indenture to the other
parties hereto constitutes an instrument accepting such appointment within the 

  

 -7- 
 SUPPLEMENTAL INDENTURE 

 
meaning of Section 6.15 of the Indenture, as amended hereby. For purposes of the Notes, as used in the Indenture the term “Corporate Trust
Office” shall mean the Corporate Trust Office of the Property Trustee located at 25 South Charles Street-16th Floor, Mail Code: MD2-CS58, Baltimore, MD 21201. 
 ARTICLE III 
 AMENDMENT OF SECTION 3.5
OF INDENTURE 
 Section 3.1 Amendment of Section 3.5. 
 The last sentence of the first paragraph of Section 3.5 of the Indenture is hereby amended to read as follows: 
 “Except as may be set forth in any indenture supplemental hereto with respect to any series of Securities, the Trustee is hereby appointed
“Securities Registrar” for the purposes of registering Securities and transfers of Securities as herein provided.” 
 ARTICLE IV 
 GENERAL TERMS AND CONDITIONS OF
THE NOTES 
 Section 4.1 Designation, Principal Amount and Authorized Denomination. 
 There is hereby authorized a series of Securities designated the Remarketable 6.044% Junior Subordinated Notes due 2043 (the “Notes”),
limited in aggregate principal amount to $500,100,000, which amount to be issued shall be as set forth in any Company Order for the authentication and delivery of Notes pursuant to the Indenture. The denominations in which Notes shall be issuable is
$1,000 principal amount and integral multiples thereof. 
 Section 4.2 Maturity. 
 The Stated Maturity of the Notes will be June 20, 2043, subject to change as provided in ARTICLE V. 
 Section 4.3 Form and Payment. 
 Except as provided in
Section 4.4, the Notes shall be issued in fully registered definitive form without interest coupons. Principal of and interest on the Notes issued in definitive form will be payable, the transfer of such Notes will be registrable and such Notes
will be exchangeable for Notes bearing identical terms and provisions and notices and demands to or upon the Company in respect of the Notes and the Indenture, as supplemented by this Supplemental Indenture, may be served at the Corporate Trust
Office of the Series Trustee, and the Company appoints the Series Trustee as its agent for the foregoing purposes; provided that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as
shall appear in the Securities Register or by wire transfer in immediately available funds to the bank account number of the Holder specified in writing by the Holder and entered in the Securities Register by the Securities Registrar.
Notwithstanding the foregoing, so long as the Holder of any Note is the Collateral Agent or the Custodial Agent, the payment of the principal of and interest (including expenses and taxes of the Issuer Trust set forth in Section 6.1, if any) on
such Notes held by the Collateral Agent or the Custodial Agent will be made at the Paying Agent Office or such place and to such account as may be designated in writing by the Collateral Agent or the Custodial Agent, as the case may be. The Notes
may be presented for registration of transfer or exchange at the Securities Registrar Office. 
  

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 SUPPLEMENTAL INDENTURE 

 Section 4.4 Notes Held by Collateral Agent and Custodial Agent; Global Notes; Adjustment of Global Notes.

 (a) The Notes shall be issued initially in fully registered form in the name of the Securities Intermediary and the Custodial Agent, in
their respective capacities as such. For so long as such Notes are held by the Collateral Agent and the Custodial Agent, each such Note shall represent the principal amount so indicated in the Securities Register, provided that the aggregate
principal amount of all such Notes shall at all times equal the principal amount issued in accordance with Section 4.1. 
 (b) At any
time on or after the first to occur of the Remarketing Settlement Date, an Early Termination Event or the redemption of the Capital PCS by the Issuer Trust in exchange for Notes, the Notes in definitive form may be presented to the Securities
Registrar for exchange for one or more global Notes in an aggregate principal amount equal to the aggregate principal amount of the Notes so presented (a “Global Note”), to be registered in the name of the Depositary, or its
nominee, and delivered to the Depositary for crediting to the accounts of its participants pursuant to the instructions of the Administrative Trustees; provided, however, that any Notes subject to a Remarketing in the form of New Trust Preferred
Securities shall, upon a Remarketing Settlement Event, be transferred to the Property Trustee. The Company upon any such presentation shall execute one or more Global Notes in such aggregate principal amount and deliver the same to the Series
Trustee for authentication and delivery in accordance with the Indenture. The Series Trustee, upon receipt of such Global Notes, together with an Officers’ Certificate and an order to the Trustee requesting authentication, will authenticate
such Global Notes and deliver them to the Securities Registrar, as custodian for the Depositary. Payments on the Notes issued as Global Notes will be made to the Depositary. 
 (c) In the event that (i) any Pledged Notes for which no election has been validly made pursuant to Section 8.02(a) of the Collateral Agreement
are to be released from the Pledge and transferred to the Remarketing Agent (or, if the Company elects to remarket the Notes in the form of New Trust Preferred Securities pursuant to Section 5.2, the property trustee of the New Trust) pursuant
to Section 8.02(b) of the Collateral Agreement or (ii) any Pledged Notes for which an election has been validly made pursuant to Section 8.03(a) of the Collateral Agreement are to be delivered to the Remarketing Agent (or, if the
Company elects to remarket the Notes in the form of New Trust Preferred Securities pursuant to Section 5.2, the property trustee of the New Trust) pursuant to Section 8.03(b) of the Collateral Agreement (collectively, the
“Remarketed Notes”), such transfers shall be evidenced by an endorsement by the Securities Registrar on the Notes held by the Collateral Agent and the Custodial Agent, respectively, reflecting a reduction in the principal amount of
such Notes equal in amount to the principal amount of the Remarketed Notes. The Securities Registrar shall confirm any such reduced principal amount by faxing or otherwise delivering a photocopy of such endorsement made on the Notes evidencing such
reduced or increased principal amount to the Series Trustee at the facsimile number or address of the Property Trustee provided for notices to the Property Trustee in the Collateral Agreement (or at such other facsimile number or address as the
Series Trustee shall provide to the Securities Registrar). Upon receipt of such confirmation, the Series Trustee shall instruct the Securities Registrar to increase the principal amount of a Global Note in an amount equal to the aggregate principal
amount of the Remarketed Notes by an endorsement made by the Securities Registrar on such Global Note to reflect such increase. 
 (d) In the
event that any Pledged Note is to be released from the Pledge and transferred to the Custodial Account pursuant to Section 6.02(a) of the Collateral Agreement (a “Released Note”), as a result of the exchange of Normal PCS and
Qualifying Treasury Securities for Stripped PCS and Capital PCS as provided in Section 6.02(a) of the Collateral Agreement, such transfer shall be 

  

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 SUPPLEMENTAL INDENTURE 

 
evidenced by an endorsement by the Collateral Agent or the Securities Registrar on the Note held by the Collateral Agent reflecting a reduction in the
principal amount of such Note equal in amount to the principal amount of the Released Note. The Collateral Agent shall confirm any such reduced principal amount by faxing or otherwise delivering a photocopy of such endorsement made on the Note
evidencing such reduced principal amount to the Series Trustee at the facsimile number or address of the Series Trustee provided for notices to the Property Trustee in the Collateral Agreement (or at such other facsimile number or address as the
Property Trustee shall provide to the Collateral Agent). Upon receipt of such confirmation, the Series Trustee shall instruct the Custodial Agent or Securities Registrar to increase the principal amount of the Note held by the Custodial Agent in an
amount equal to the reduced principal amount by an endorsement made by the Custodial Agent or Securities Registrar on such Note to reflect such increase. 
 (e) In the event that a Note is transferred to the Collateral Account pursuant to Section 6.03(b)(i) of the Collateral Agreement (a “Subjected Note”) in connection with the exchange of Stripped
PCS and Capital PCS for Normal PCS and Qualifying Treasury Securities as provided in Section 6.03 of the Collateral Agreement, such transfer shall be evidenced by an endorsement by the Collateral Agent or the Securities Registrar on the Note
held by the Collateral Agent reflecting an increase in the principal amount of such Note equal in amount to the principal amount of such Subjected Note. The Collateral Agent shall confirm any such increased principal amount by faxing or otherwise
delivering a photocopy of such endorsement made on the Note evidencing such increased principal amount to the Series Trustee at the facsimile number or address of the Series Trustee provided for notices to the Series Trustee in the Collateral
Agreement (or at such other facsimile number or address as the Trustee shall provide to the Collateral Agent). Upon receipt of such confirmation, the Series Trustee shall instruct the Custodial Agent or the Securities Registrar to decrease the
principal amount of the Note held by the Custodial Agent in an amount equal to the increased principal amount by an endorsement made by the Custodial Agent or Securities Registrar on such Note to reflect such decrease. 
 Section 4.5 Interest. 
 (a) Each Note will bear
interest as provided in the form of Notes set forth in Section 7.1. 
 (b) The Company shall have the right to (and shall, if so
directed by the Federal Reserve) defer the payment of interest on the Notes, as provided in Section 3.11 of the Indenture, for one or more Extension Periods extending to not later than 14 consecutive Interest Payment Dates (or the
equivalent if interest periods are not at the time semi-annual) after the commencement of such Extension Period. The Series Trustee shall give notice of the Company’s election to begin or extend any Extension Period to the Holders of the
Outstanding Notes in the form of a notice thereof as shall have been prepared by the Company and furnished to the Series Trustee. The restrictions on the Company’s rights to declare or pay dividends or distribution on, or redeem, purchase,
acquire or make a liquidation payment with respect to any shares of its capital stock, to make payments on Parity Securities and on any of its debt securities that rank junior to the Notes or guarantees that rank junior to the Guarantee set forth in
Section 3.11 or 10.7 of the Indenture shall be subject to the exceptions set forth in Section 7.1. 
 (c) If on the Stock Purchase
Date the Company has not paid in cash all interest accrued on the Notes and there is a Failed Remarketing, the Company will pay the Issuer Trust such deferred interest on the Stock Purchase Date in subordinated notes that have a principal amount
equal to the aggregate amount of deferred interest as of the Stock Purchase Date, mature on the later of June 20, 2016 and five years after commencement of the related Extension Period, bear interest at a rate per annum equal to the rate
of interest originally in effect on the Notes (subject to deferral on the same basis as the Notes) are subordinate and rank junior in right 

  

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 SUPPLEMENTAL INDENTURE 

 
of payment and upon liquidation to the Company’s obligations to the holders of Senior Debt of the Company on the same basis as the Notes and are
redeemable by the Company at any time or from time to time prior to their stated maturity at a redemption price equal to the principal amount thereof plus any accrued and unpaid interest to the date of redemption; provided that the Company
shall register such subordinated notes under the Securities Act prior to the delivery thereof to the Property Trustee unless they may be so delivered pursuant to an exemption from registration thereunder. 
 Section 4.6 Redemption of the Notes. 
 (a) The Notes
shall not be subject to the right of redemption specified in Section 11.7 of the Indenture. 
 (b) The Company may from time to time
redeem the Notes, in whole or in part, at any date on or after June 20, 2016, at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest, including deferred interest (if any), to the date of redemption,
in accordance with Article XI of the Indenture; provided that the Company may not redeem the Notes in part if the principal amount has been accelerated and such acceleration has not been rescinded or unless all accrued and unpaid interest has
been paid in full on all outstanding Notes for all Interest Periods terminating on or before the Redemption Date. In connection with a Remarketing, the Company may change the date after which it may redeem Notes to a later date or change the
redemption price in accordance with ARTICLE V. 
 (c) Prior to the Stock Purchase Date, the Company may redeem all, but not less than all, of
the Notes upon the occurrence of a Capital Treatment Event, Investment Company Event, Rating Agency Event or Tax Event. After the Stock Purchase Date and prior to June 20, 2016, the Company may also redeem all, but not less than all of the
Notes upon the occurrence of an Investment Company Event or Tax Event. The redemption price for the Notes redeemed pursuant to this Section 4.6(c) will be 100% of the principal amount of Notes to be redeemed, plus accrued and unpaid interest
through the date of redemption, in the case of any redemption in connection with a Capital Treatment Event or Investment Company Event, and the greater of 100% of the principal amount Notes to be redeemed and the applicable Make-Whole Amount, plus
accrued and unpaid interest through the date of redemption, in the case of any redemption in connection with a Rating Agency Event or Tax Event. 
 (d) The Notes are not entitled to any sinking fund payments. 
 Section 4.7 Events of Default. 
 (a) Clauses (1) through (3) of Section 5.1 of the Indenture shall not apply to the Notes. The following events are hereby designated as
Events of Default with respect to the Notes pursuant to clause (6) of Section 5.1 of the Indenture: 
 (i) a default
in the payment of interest, including Additional Interest, in full on any Notes for a period of 30 days after deferral for 14 consecutive semi-annual Interest Periods (or the equivalent thereof); 
 (ii) termination of the Issuer Trust at any time it is holding the Notes, unless the Trust Preferred Securities are redeemed and the Notes
are distributed to holders of Capital PCS and, if such termination occurs prior to the Stock Purchase Date or, if earlier, the Remarketing Settlement Date, the holders of the Normal PCS; and 
  

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 SUPPLEMENTAL INDENTURE 

 (iii) receivership of a major subsidiary depository institution of the Company within the
meaning of the Federal Reserve’s risk-based capital guidelines applicable to bank holding companies. 
 (b) For the avoidance of doubt,
and without prejudice to any other remedies that may be available to the Series Trustee, the Holders of the Notes or the holders of the Preferred Securities under the Indenture, no breach by the Company of any other covenant or obligation under the
Indenture or the terms of the Notes shall be an Event of Default with respect to the Notes. 
 (c) So long as any Notes are held by or on
behalf of the Issuer Trust, the Series Trustee shall provide to the holders of the Normal PCS, Trust Common Securities and Capital PCS such notices as it shall from time to time provide under Section 6.2 of the Indenture. In addition, the
Series Trustee shall provide to the holders of the Normal PCS, Trust Common Securities and Capital PCS notice of any Event of Default or event that, with the giving of notice or lapse of time, or both, would become an Event of Default with respect
to the Notes within 30 days after the actual knowledge of a Responsible Officer of the Series Trustee of such Event of Default or other event. 
 Section 4.8
Securities Registrar; Paying Agent; Delegation of Trustee Duties. 
 (a) The Company appoints The Bank of New York, as Securities
Registrar and Paying Agent with respect to the Notes for so long as it shall act as Collateral Agent and Custodial Agent and is the Holder of the Notes in any of such capacities. 
 (b) Notwithstanding any provision contained herein, to the extent permitted by applicable law, the Series Trustee may delegate its duty to provide such
notices and to perform such other duties as may be required to be provided or performed by the Series Trustee under the Indenture and this Supplemental Indenture, and, to the extent such obligation has been so delegated, the Series Trustee shall not
be responsible for monitoring the compliance of, nor be liable for the default or misconduct of, any such designee. 
 (c) For purposes of
the Notes, Section 13.14 of the Indenture is amended by adding the following clause at the end thereof, anything contained herein or in the Indenture to the contrary notwithstanding: 
 “provided, however, that no Paying Agent (other than the Company or any Affiliate of the Company if it or such Affiliate acts as Paying Agent)
shall be liable to any holder of senior debt if it shall pay over or distribute to or on behalf of Holders of Securities or the Company or any other Person cash, property or securities to which any holder of Senior Debt shall be entitled by virtue
of this Article or otherwise shall be deemed to owe any fiduciary duty to the holders of Senior Debt. No Paying Agent shall be deemed to have received any notice required pursuant to or referred to in this Article (whether or not actually received)
until the second Business Day after any such notice shall have been delivered to a Responsible Officer of such Paying Agent at the Paying Agent Office of such Paying Agent, as such Responsible Officer and Paying Agent Office shall be specified with
respect to the series of Securities in respect of which such Paying Agent has been appointed in accordance with Section 3.1; and furthermore, Section 6.1 (as referred to in Section 13.10 and 13.11) and Section 13.8 are not
applicable to any Paying Agent.” 
 Section 4.9 Amendment; Supplemental Indenture 
 (a) Clauses (2) and (5) of Section 9.1 of the Indenture shall not apply to the Notes. 
  

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 SUPPLEMENTAL INDENTURE 

 (b) Solely for the benefit of the holders of the Notes, Section 9.1 of the Indenture is hereby
amended to add the following subsection (10): 
  

	 	(10)	to add to or change any terms of the Indenture or the Notes to conform the terms of this Indenture or the Notes to the description of the Notes in the Prospectus (as defined in the
Trust Agreement). 

 ARTICLE V 
 REMARKETING AND RATE RESET PROCEDURES 
 Section 5.1 Obligation to Conduct Remarketing and Related Requirements. 
 (a) The Company and the Property Trustee (on behalf
of the Issuer Trust) shall appoint the Remarketing Agent and enter into a Remarketing Agreement prior to the first Remarketing to effect the Remarketing of the Notes upon the terms, conditions and other provisions provided therein and in the Trust
Agreement and the Collateral Agreement. 
 (b) The Remarketing Agreement shall provide that the Company and the Remarketing Agent agree to
use commercially reasonable efforts to effect the Remarketing of the Notes (including, at the Company’s election, the Remarketing of the Notes in the form of trust preferred securities) as described in this ARTICLE V, and in connection
therewith, the Remarketing Agent will use its commercially reasonable efforts to obtain a price for all the Remarketed Notes that results in proceeds, net of any remarketing fee, of at least 100% of their aggregate Remarketing Value. If in the
judgment of counsel to the Company or the Remarketing Agent it is necessary for a registration statement covering the Notes to have been filed and have become effective under the Securities Act in order to effect the Remarketing, then the Company
shall (i) use commercially reasonable efforts to ensure that a registration statement covering the full principal amount of Notes to be remarketed shall have become effective in a form that will enable the Remarketing Agent to rely on it in
connection with the Remarketing or (ii) effect such Remarketing pursuant to Rule 144A (if available) under the Securities Act or another available exemption from the registration requirements under the Securities Act. 
 (c) On any day other than the last day of a Remarketing Period, the Company shall have the right, in its absolute discretion and without prior notice to
the Holders, to postpone the Remarketing until the following Business Day. 
 (d) If a Remarketing Disruption Event has occurred and is
continuing as of the last day of a Remarketing Period for a proposed Remarketing Settlement Date in May 2012, August 2012, November 2012, or February 2013 and no Early Settlement Event has occurred, the Company may elect not to attempt a
Remarketing on that day. The consequence of that election will be that the Remarketing for the related Remarketing Period will not be Successful and the Company will be obligated to use its commercially reasonable efforts to effect the Remarketing
Period in the next succeeding May, August, November or February, as applicable. 
  

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 SUPPLEMENTAL INDENTURE 

 Section 5.2 Company Decisions in Connection with Remarketing. 
 In connection with Remarketings, the Company shall have the right hereunder, subject to
Section 5.3(a), without the consent of any Holder of the Notes, to change certain terms of the Notes as provided below in this Section 5.2. By not later than the 21st day prior to the first day of each Remarketing Period, the Company will specify the following information or decisions in a notice to the Remarketing Agent,
the Collateral Agent, the Custodial Agent, the Property Trustee (on behalf of the Issuer Trust) and the Series Trustee (clauses (a) through (f) applying only if the Remarketing is Successful and clause (g) applying only in the case of
a Failed Remarketing): 
 (a) whether the Stated Maturity Date will remain at June 20, 2043 or will be changed to an earlier date
(specifying such date if applicable); provided that the Stated Maturity Date may not be changed to a date earlier than the earlier of (i) June 20, 2016 and (ii) if the Remarketing Settlement Date occurs during an Extension
Period, the seventh anniversary of the first day of such Extension Period; 
 (b) whether to change the date after which the Notes will be
redeemable at the Company’s option and the redemption price or prices; provided that no redemption date for the Notes may be earlier than the earlier of (i) June 20, 2016 and (ii) if the Remarketing Settlement Date occurs
during an Extension Period, the seventh anniversary of the first day of such Extension Period; provided, further, that no redemption price may be less than the principal plus accrued and unpaid interest (including Additional Interest) on the
Notes; 
 (c) whether, in connection with an Early Remarketing that is not the first scheduled Remarketing, the Company is exercising its
right under Section 9.2 to cause the subordination provisions in the Indenture to cease to apply to the Notes, if the Remarketing is Successful, from and after the Remarketing Settlement Date and if so, whether it also elects that the Notes
shall no longer be subject to the interest deferral provisions of Section 3.11 of the Indenture; 
 (d) whether the Notes will be
remarketed in the form of New Trust Preferred Securities; 
 (e) whether the Notes will be remarketed as fixed rate notes or floating rate
notes; 
 (f) if the Notes will be remarketed as floating rate notes, the applicable index (which must be a qualified floating rate) and the
interest payment dates and manner of calculation of interest on the Notes, which the Company may change to correspond with the market conventions applicable to notes bearing interest at rates based on the applicable index; and 
 (g) whether following a Failed Remarketing: 
 (i) the Stated Maturity Date will remain at June 20, 2043 or will be changed to an earlier date, which date shall not be earlier than June 20, 2016 (specifying such date if applicable); and 
 (ii) the date after which the Notes will be redeemable at the Company’s option will be changed (which date shall not be earlier than
June 20, 2016) and the redemption price or prices; 
 provided that if the Failed Remarketing occurs during an Extension Period any changed
Stated Maturity Date of the Notes determined pursuant to clause (i) or early redemption date determined pursuant to clause (ii) may not be earlier than the seventh anniversary of the first day of such Extension Period. 
 Any such elections made by the Company pursuant to clauses (a) through (f) shall, upon successful completion of a Remarketing, automatically
apply and come into effect in respect of the Notes as of the Remarketing Settlement Date and any such elections made by the Company pursuant to clause (g) in connection with a Failed Remarketing shall come into effect in respect of the Notes
upon the announcement by the Company that the Final Remarketing is a Failed Remarketing. 
  

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 SUPPLEMENTAL INDENTURE 

 Section 5.3 Reset of Interest Rate in Connection with Remarketings and Related Changes in Terms. 
 (a) As part of and in connection with each Remarketing, the Remarketing Agent shall determine the Reset Rate or Reset Spread on the Notes, subject to
Section 5.3(b) through (e), pursuant to the Remarketing Agreement and in accordance with the other provisions of this ARTICLE V, that will apply to all Notes (whether or not sold in the Remarketing) if such Remarketing is Successful for each
Interest Period or portion thereof commencing on or after such Remarketing Settlement Date, subject to the following provisions and limitations: 
 (i) in connection with a Remarketing that is not a Final Remarketing, (A) if the Notes are remarketed as fixed rate notes, the Reset Rate may not exceed the Fixed Rate Reset Cap and (B) if the Notes are
remarketed as floating rate notes, the Reset Spread may not exceed the Floating Rate Reset Cap; 
 (ii) the interest rate on
the Notes may not at any time be less than 0% per annum; and 
 (iii) if (A) the interest rate on the Notes is not
a fixed rate or a “qualified floating rate” (as defined in U.S. Treasury regulations section 1.1275-5(b)), (B) interest on the Notes is not unconditionally payable at intervals of no more than one year through the remaining term of
the Notes, or (C) the redemption price of the Notes is not their principal amount (disregarding a customary call premium that is fixed or objectively determinable based on a qualified floating rate), then the Company shall have received a
written opinion of Sullivan & Cromwell LLP or other nationally recognized tax counsel experienced in such matters to the effect that the discussion contained in the Prospectus under the heading “Certain U.S. Federal Income Tax
Consequences” is materially correct, taking into account all of the terms of the Notes following the Remarketing. 
 (b) If the
Remarketing has been determined to be Successful in accordance with Section 5.5(a), by approximately 4:30 P.M., New York City time, on the date of such Successful Remarketing, the Remarketing Agent shall notify the Company, the Collateral
Agent, the Custodial Agent, the Property Trustee (on behalf of the Issuer Trust) and the Series Trustee that the Remarketing was Successful and the Reset Rate or Reset Spread determined as part of such Remarketing in accordance with this ARTICLE V.

 (c) If a Remarketing is Successful, then commencing with the related Remarketing Settlement Date the interest rate on the Notes shall be
reset to the rate, determined in accordance with this ARTICLE V pursuant to such Remarketing and the other changes, if any, in the terms of the Notes as notified by the Company pursuant to Section 5.2, shall become effective in accordance with
this ARTICLE V. 
 (d) If a Remarketing other than the Final Remarketing is not Successful: 
 (i) no Notes will be sold in such Remarketing; 
 (ii) the interest rate will remain unchanged unless and until it is reset pursuant to a subsequent Remarketing in accordance with this
ARTICLE V; 
 (iii) the other changes, if any, in the terms of the Notes, as notified by the Company pursuant to
Section 5.2, shall not become effective; and 
 (iv) the Company and the Remarketing Agent shall attempt another
Remarketing during the next Remarketing Period. 
  

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 SUPPLEMENTAL INDENTURE 

 (e) Upon the occurrence of a Failed Remarketing: 
 (i) no Notes will be sold in such Remarketing and no further attempts at Remarketing shall be made; 
 (ii) the interest rate will remain unchanged and the Notes will continue to bear interest at the interest rate otherwise in effect,
payable on the dates set forth in the Notes, subject to Section 4.5(b); 
 (iii) the other changes, if any, in the terms
of the Notes as notified by the Company pursuant to clauses (a) through (f) of the second sentence of Section 5.2, shall not become effective; 
 (iv) the Stated Maturity Date and early redemption date for the Notes will change in accordance with clause (g) of the second
sentence of Section 5.2, as applicable; 
 (v) in the case of Notes corresponding to Normal PCS and Trust Common
Securities, such Notes will be applied in satisfaction of the Issuer Trust’s obligations under Stock Purchase Contracts in accordance with the Collateral Agreement; and 
 (vi) in the case of Notes corresponding to Capital PCS, such Notes will be returned to the Custodial Agent in accordance with the
Collateral Agreement. 
 Section 5.4 Early Remarketing. 
 If an Early Settlement Event occurs prior to the Stock Purchase Date, the Remarketing Periods shall be the five Business Day periods commencing on the seventh Business Day prior to the next Remarketing Settlement Date
that is at least 30 days after the occurrence of such Early Settlement Event, and concluding with the earlier to occur of the fifth such date and a Successful Remarketing; provided that in the case of an Early Settlement Event of the
type described in clause (v) of the definition of such term, there shall be only one Remarketing Period and the Reset Rate or Reset Spread shall not be subject to the Fixed Rate Reset Cap or Floating Rate Reset Cap, as the case may be, and if
the Remarketing conducted on such date is not Successful, it shall be a Failed Remarketing and the Stock Purchase Date shall be the next succeeding March 20, June 20, September 20 or December 20 (or if such day is not a
Business Day, the next Business Day). 
 Section 5.5 Company Announcements. 
 (a) If by 4:00 P.M., New York City time, on any Business Day during a Remarketing Period the Remarketing Agent has found buyers for all of the Notes
offered in the Remarketing in accordance with this ARTICLE V, a “Successful” Remarketing shall be deemed to have occurred. In the event of a Successful Remarketing, the Company shall issue a press release through Bloomberg Business News or
other reasonable means of distribution stating that such Remarketing was Successful and specifying the Reset Rate or Reset Spread and shall post such information on its website on the World Wide Web. 
 (b) If, by 4:00 P.M., New York City time, on the last day of any Remarketing Period the Remarketing Agent is unable to find buyers for all of the Notes
offered in such Remarketing, including any Remarketing that would qualify as a Final Remarketing, in accordance with this ARTICLE V, an “Unsuccessful” Remarketing shall be deemed to have occurred. In the event of an Unsuccessful
Remarketing, the Company shall issue a press release through Bloomberg Business News or other reasonable means of distribution stating that such Remarketing was an Unsuccessful Remarketing, and publish such information on its website on the World
Wide Web. 
  

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 SUPPLEMENTAL INDENTURE 

 (c) If on any Business Day during a Remarketing Period other than the last day thereof the Company has
determined to postpone the Remarketing until the next Business Day, the Company shall issue a press release through Bloomberg Business News or other reasonable means of distribution stating that such Remarketing has been postponed and shall post
such information on its website on the World Wide Web. 
 Section 5.6 Supplemental Indenture. 
 Notwithstanding any provision of the Indenture to the contrary, the Company and the Series Trustee may enter into a supplemental indenture without the
consent of any Holder of the Notes to reflect any modifications to the terms of the Notes pursuant to the terms of this ARTICLE V and to provide for the exchange of the Notes for Notes in the form reflecting such modifications and adopted pursuant
to such supplemental indenture. 
 ARTICLE VI 
 EXPENSES 
 Section 6.1 Expenses. 
 In connection with the offering, sale and issuance of the Notes to the Issuer Trust on behalf of the Issuer Trust and in connection with the sale of the
Trust Securities by the Issuer Trust, the Company, in its capacity as borrower with respect to the Notes, shall: 
 (a) pay all costs and
expenses relating to the offering, sale and issuance of the Notes, including commissions to the underwriters payable pursuant to the Underwriting Agreement and compensation of the Series Trustee under this Supplemental Indenture in accordance with
the provisions of this Supplemental Indenture; and 
 (b) be responsible for and shall pay all debts and obligations (except for any amounts
owed to Holders of the PCS in their respective capacities as Holders) and all costs and expenses of the Issuer Trust (including, but not limited to, costs and expenses relating to the organization, maintenance and dissolution of the Issuer Trust),
the offering, sale and issuance of the Trust Securities (including commissions to the underwriters in connection therewith), the fees and expenses (including reasonable counsel fees and expenses) of the Property Trustee, the Delaware Trustee, the
Administrative Trustees, the Securities Registrar, and the Paying Agent, the costs and expenses relating to the operation of the Issuer Trust, including, without limitation, costs and expenses of accountants, attorneys, statistical or bookkeeping
services, expenses for printing and engraving and computing or accounting equipment, paying agent(s), registrar(s), transfer agent(s), duplicating, travel and telephone and other telecommunications expenses and costs and expenses incurred in
connection with the acquisition, financing, and disposition of Issuer Trust assets and the enforcement by the Property Trustee of the rights of the Holders of the Notes. 
 The Company’s obligations under this Section 6.1 shall be for the benefit of, and shall be enforceable by, any person to whom such debts, obligations and costs are owed (a “Creditor”)
whether or not such Creditor has received notice hereof. Any such Creditor may enforce the Company’s obligations under this Section 6.1 directly against the Company and the Company irrevocably waives any right or remedy to require that any
such Creditor take any action against the Issuer Trust or any other Person before proceeding against the Company. The Company agrees to execute such additional agreements as may be necessary or desirable in order to give full effect to the
provisions of this Section 6.1. 
  

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 SUPPLEMENTAL INDENTURE 

 ARTICLE VII 
 FORM OF NOTE 
 Section 7.1 Form of Notes. 
 The Notes are to be substantially in the following form and shall bear any legend required by Section 2.4 of the Indenture: 
  

			
	No.
                                	  	Principal Amount:

 Issue Date: June 19, 2007 
 MELLON FINANCIAL CORPORATION 
 REMARKETABLE 6.044% JUNIOR SUBORDINATED NOTE DUE 2043 
 MELLON FINANCIAL CORPORATION, a corporation organized and existing under the laws of Pennsylvania (hereinafter called the “Company”, which term includes any
successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to                     , or
registered assigns, the principal sum of                      Dollars on June 20, 2043 or such earlier date as may be specified by the
Company following a Remarketing (such date is hereinafter referred to as the “Stated Maturity Date”). The Company further promises to pay interest on said principal sum from June 19, 2007, or from the most recent interest
payment date (each such date, an “Interest Payment Date”) on which interest has been paid or duly provided for (subject to deferral as set forth herein), semi-annually in arrears on June 20 and December 20 of each year,
commencing December 20, 2007, and on the Stock Purchase Date in the event of a Failed Remarketing if not otherwise an Interest Payment Date, at the rate of 6.044% per annum (or after the Remarketing Settlement Date at such rate
per annum as may be established in the Remarketing), until the principal hereof shall have become due and payable, plus Additional Interest, if any, until the principal hereof is paid or duly provided for or made available for payment. The
amount of interest payable for any period less than a full Interest Period shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. In the event that any date on which interest is payable on this Note is not a Business
Day, then a payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other 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. A “Business Day” shall mean any day other than a Saturday, Sunday, or any other day on which banking institutions and trust companies in New York, New York, Pittsburgh, Pennsylvania or
Wilmington, Delaware, are permitted or required by any applicable law to close. The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in
whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest installment, which shall be the date that is the last day of the month immediately preceding the month
in which such Interest Payment Date falls (whether or not a Business Day). Any such interest installment not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid
to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of Notes 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 Notes may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in said Indenture. 
  

 -18- 
 SUPPLEMENTAL INDENTURE 

 If the principal amount hereof or any portion of such principal amount is not paid when due (whether upon
acceleration, upon the date set for payment of the Redemption Price or upon the Stated Maturity Date) or if interest due hereon (or any portion of such interest), is not paid when due, then in each such case the overdue amount shall, to the extent
permitted by law, bear interest at the rate then borne by this Note for the applicable Interest Period, compounded at the end of such Interest Period, which interest shall accrue from the date such overdue amount was originally due to the date
payment of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable as set forth in the Indenture. 
 The Company shall have the right at any time during the term of this Note to defer payment of interest on this Note, at any time or from time to time, for up to 14 consecutive semi-annual Interest Periods (or the
equivalent thereof, if the Interest Periods are not then semi-annual) with respect to each deferral period (each, an “Extension Period”), during which Extension Periods the Company shall have the right to make partial payments
of interest on any Interest Payment Date, and at the end of which the Company shall pay all interest then accrued and unpaid (together with Additional Interest thereon to the extent permitted by applicable law); provided that no Extension
Period shall extend beyond the Stated Maturity of the principal of this Note; provided, further, that during any such Extension Period, the Company shall not, and shall not permit any Subsidiary of the Company to, (i) declare or pay any
dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any shares of the Company’s capital stock, (ii) make any payment of principal of or interest or premium, if any, on or repay,
repurchase or redeem any debt security of the Company that ranks or make any payments under any guarantee that ranks, upon liquidation, pari passu in all respects with the Note (including this Note, “Parity Securities”) or
any debt security of the Company that ranks junior to the Note or (iii) make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company that by their terms rank junior in interest
to this Note (other than (a) any repurchase, redemption or other acquisition of shares of the Company’s capital stock in connection with (1) any employment contract, benefit plan or other similar arrangement with or for the benefit of
any one or more employees, officers, directors, consultants or independent contractors, (2) the satisfaction of the Company’s obligations pursuant to any contract entered into in the ordinary course prior to the beginning of the Extension
Period, (3) a dividend reinvestment or stockholder purchase plan, or (4) the issuance of the Company’s capital stock, or securities convertible into or exercisable for such capital stock, as consideration in an acquisition transaction
entered into prior to the applicable Extension Period; (b) any exchange, redemption or conversion of any class or series of the Company’s capital stock, or the capital stock of one of its subsidiaries, for any other class or series of the
Company’s capital stock, or any class or series of the Company’s indebtedness for any class or series of its capital stock; (c) any purchase of fractional interests in shares of the Company’s capital stock pursuant to the
conversion or exchange provisions of such capital stock or the securities being converted or exchanged; (d) any declaration of a dividend in connection with any rights plan, or the issuance of rights, stock or other property under any rights
plan, or the redemption or repurchase of rights pursuant thereto; (e) payments under any the Guarantee Agreement; (f) payments of interest on Parity Securities (including the Notes) in additional Parity Securities (including any Additional
Subordinated Notes) and any repurchase of Parity Securities (including the Notes) in exchange for preferred stock (including the Preferred Stock), in each case in connection with a Failed Remarketing or similar event; (g) any payment of current
or deferred interest on Parity Securities that is made pro rata to the amounts due on such Parity Securities (including the Notes) and any payments of principal of or deferred interest on Parity Securities that, if not made, would cause the
Company to breach the terms of the instrument governing such Parity Securities; or (h) any dividend in the form of stock, warrants, options or other rights where the dividend stock or stock issuable upon exercise of such warrants, options or
other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such 

  

 -19- 
 SUPPLEMENTAL INDENTURE 

 
stock). Prior to the termination of any such Extension Period, the Company may further extend the interest payment period, provided that no Extension
Period shall exceed 14 consecutive semi-annual Interest Periods or extend beyond the Stated Maturity of the principal of this Note. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest then
due, the Company may elect to begin a new Extension Period, subject to the above requirements. Subject to the last sentence of this paragraph, no interest shall be due and payable during an Extension Period except at the end thereof. The Company
shall give the Trustee and the Paying Agent notice of its election to begin or extend any Extension Period at least ten Business Days prior to the date on which interest on the Notes would be payable but for the election to begin or extend such
Extension Period. The Trustee or its designee shall give notice of the Company’s election to begin or extend any Extension Period to the Holders of the Notes, to the Administrative Trustees and to the holders of the Capital PCS, and if such
election is made prior to the Stock Purchase Date or, if earlier, the Remarketing Settlement Date, to the holders of the Normal PCS. If an Extension Period is in effect on the Stock Purchase Date and there is a Failed Remarketing, then the Company
will pay the Holder the deferred interest on the Stock Purchase Date in subordinated notes (“Additional Subordinated Notes”) that (i) have a principal amount equal to the aggregate amount of deferred interest as of the Stock
Purchase Date, (ii) mature on the later of June 20, 2016 and five years after the commencement of such Extension Period, (iii) bear interest at a rate per annum equal to the rate of interest originally in effect on the Notes,
(iv) are subordinate and rank junior in right of payment and upon liquidation to all of the Company’s senior debt on the same basis as the Notes and (v) are redeemable by the Company at any time prior to their stated maturity and the
restrictions set forth in the first sentence of this paragraph shall remain in effect until the Company has paid in full all amounts outstanding under such notes. 
 Payment of the principal of (and premium, if any) and interest on this Note will be made at the office or agency of the Company maintained for that purpose in the United States, in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts; provided that at the option of the Company payment of interest may be made (i) by check mailed to the address of the Person entitled
thereto as such address shall appear in the Securities Register or (ii) by wire transfer in immediately available funds at such place and to such account as may be designated by the Person entitled thereto as specified in the Securities
Register in writing not less than 10 days before the date of the interest payment. 
 The indebtedness evidenced by this Note is, to the
extent provided in the Indenture, subordinate and junior in right of payment and upon liquidation to the prior payment in full of all Senior Debt, and this Note is issued subject to the provisions of the Indenture with respect thereto;
provided that the Company may elect in connection with an Early Remarketing that is not the first scheduled Remarketing (as described on the reverse hereof) at any time effective on or after the Remarketing Settlement Date, that the
indebtedness evidenced by this Note shall cease to be subordinate and junior in right of payments to the prior payment in full of all Senior Debt. Each Holder of this Note, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on his behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his attorney-in-fact for any and all such
purposes. Each Holder hereof, by his acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Debt, whether now outstanding or hereafter incurred, and
waives reliance by each such holder upon said provisions. 
 Reference is hereby made to the further provisions of this 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. 
  

 -20- 
 SUPPLEMENTAL INDENTURE 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal. 
  

			
	MELLON FINANCIAL CORPORATION
		
	By:	 	  
		 	 CHAIRMAN, VICE CHAIRMAN,
 PRESIDENT OR VICE
PRESIDENT

  

			
		
	Attest:	 	  
		 	SECRETARY OR ASSISTANT SECRETARY

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

			
	MANUFACTURERS AND TRADERS TRUST COMPANY, as Trustee
		
	By:	 	  
		 	Authorized Officer

  

 -21- 
 SUPPLEMENTAL INDENTURE 

 (FORM OF REVERSE OF NOTE) 
 This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one or more series under Junior Subordinated Indenture, dated as of
December 3, 1996 (herein called the “Base Indenture”), between the Company and The Chase Manhattan Bank (the “Original Trustee”), as amended and supplemented by the Supplemental Indenture, dated as of
June 19, 2007 (the “Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), among the Company, The Bank of New York (as successor to The Chase Manhattan Bank), as original trustee, and
Manufacturers and Traders Trust Company, as series trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Trustee, the Company and the Holders of the Notes, and of the terms upon which the Notes are, and are to be, authenticated and delivered. By terms of the Indenture, the Securities are issuable in series that may vary
as to amount, date of maturity, rate of interest, rank and in other respects provided in the Indenture. 
 All terms used in this Note that
are defined in the Indenture or in the Amended and Restated Trust Agreement, dated as of June 19, 2007 (the “Trust Agreement”), for Mellon Capital IV among Mellon Financial Corporation, as Sponsor, the Trustees named therein
and the several Holders of the Trust Securities, shall have the meanings assigned to them in the Indenture or the Trust Agreement, as the case may be. 
 The Company may at any time, at its option, on or after June 20, 2016, and subject to the terms and conditions of Article XI of the Base Indenture and Section 4.6 of the Supplemental Indenture, redeem
this Note in whole at any time or in part from time to time, without premium or penalty, at a redemption price equal to 100% of the principal amount hereof plus accrued and unpaid interest including Additional Interest, if any to the Redemption
Date. 
 Prior to the Stock Purchase Date, the Company may redeem all, but not less than all, of the Notes upon the occurrence of a Capital
Treatment Event, Investment Company Event, Rating Agency Event or Tax Event. After the Stock Purchase Date and prior to June 20, 2016, the Company may also redeem all, but not less than all of the Notes upon the occurrence of an Investment
Company Event or Tax Event. The redemption price for the Notes redeemed pursuant to this paragraph will be 100% of the principal amount of Notes to be redeemed, plus accrued and unpaid interest through the date of redemption, in the case of any
redemption in connection with a Capital Treatment Event or Investment Company Event, and the greater of 100% of the principal amount Notes to be redeemed and the applicable Make-Whole Amount, plus accrued and unpaid interest through the date of
redemption, in the case of any redemption in connection with a Rating Agency Event or Tax Event. 
 No sinking fund is provided for the
Notes. 
 This Note shall be remarketed as provided in the Indenture. In connection therewith, the Company may change the Stated Maturity
Date, the date after which this Note may be redeemed in whole or in part prior to the Stated Maturity Date at the option of the Company, the rate of interest payable on this Note, the Interest Payment Dates, the manner of calculating interest on
this Note and certain other provisions of the Notes, all as set forth in the Indenture and without the consent of any Holder of this Note. 
 The Indenture contains provisions for satisfaction and discharge of the entire indebtedness of this Note upon compliance by the Company with certain conditions set forth in the Indenture. 
  

 -22- 
 SUPPLEMENTAL INDENTURE 

 The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee at any
time to enter into a supplemental indenture or indentures for the purpose of modifying in any manner the rights and obligations of the Company and of the Holders of the Notes, with the consent of the Holders of not less than a majority in principal
amount of the Outstanding Notes to be affected by such supplemental indenture. The Indenture also contains provisions permitting Holders of specified percentages in principal amount of the Notes at the time Outstanding, on behalf of the Holders of
all Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon
such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 
 As provided in and subject to the provisions of the Indenture, if an Event of Default with respect to the Notes at the time Outstanding occurs and is
continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Notes may declare the entire principal amount and all accrued but unpaid interest of all the Notes to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), provided that, in the case of Notes issued to and held by Mellon Capital IV, or any trustee thereof or agent therefor, if upon an Event of Default,
the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Notes fails to declare the entire principal and all accrued but unpaid interest of all the Notes to be immediately due and payable, the holders of at least 25% in
aggregate liquidation amount of the Capital PCS and, if such declaration occurs prior to the Stock Purchase Date or, if earlier, the Remarketing Settlement Date, the holders of the Normal PCS then outstanding, acting together as a single class,
shall have such right by a notice in writing to the Company and the Trustee. Upon any such declaration, such amount of the principal of and the accrued but unpaid interest on all the Notes shall become immediately due and payable, provided
that the payment of principal and interest on the Notes shall remain subordinated to the extent provided in Article XIII of the Base Indenture except to the extent otherwise determined in connection with an Early Remarketing. Upon payment
(i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal and overdue interest (in each case to the extent that the payment of such interest shall be legally enforceable), all of the
Company’s obligations in respect of the payment of the principal of and interest (including Additional Interest), if any, on this Note shall terminate. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if
any) and interest on this 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 Note is registrable in the Securities Register, upon surrender of this Note for registration of transfer at the office or agency of the Company maintained under
Section 10.2 of the Base Indenture duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Securities Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 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 Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name this Note is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  

 -23- 
 SUPPLEMENTAL INDENTURE 

 The Notes are issuable only in registered form without coupons in minimum denominations of $1,000 and any
integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of a different authorized denomination, as
requested by the Holder surrendering the same. 
 The Company and, by its acceptance of this Note or a beneficial interest therein, the
Holder of, and any Person that acquires a beneficial interest in, this Note agree to treat for United States Federal income tax purposes (i) the Notes as indebtedness of the company, and (ii) the stated interest on the Notes as ordinary
interest income that is includible in the Holder’s or beneficial owner’s gross income at the time the interest is paid or accrued in accordance with the Holder’s or beneficial owner’s regular method of tax accounting, and
otherwise to treat the Notes as described in the Prospectus. 
 The Indenture and this Note shall be governed by and construed in
accordance with the laws of the State of New York. 
 This is one of the Securities referred to in the within mentioned Indenture.

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

  

  

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

  

  

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

									
					
	Dated:	 		 		 	Signature:	 	  
		 		 		 		 	

  

			
		
	Signature Guarantee:	 	  
		 	

 (Sign exactly as your name appears on the other side of this Note) 
 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Securities Registrar, which
requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Securities Registrar in addition
to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 
  

 -24- 
 SUPPLEMENTAL INDENTURE 

 ARTICLE VIII 
 ORIGINAL ISSUE OF NOTES 
 Section 8.1 Original Issue
of Notes. 
 Notes in the aggregate principal amount of $500,100,000 may, upon execution of this Supplemental Indenture, be executed by
the Company and delivered to the Series Trustee or an Authenticating Agent for authentication, and the Series Trustee or an Authenticating Agent shall thereupon authenticate and deliver said Notes in accordance with a Company Order. 
 Section 8.2 Calculation of Original Issue Discount. 
 If during any calendar year any original issue discount shall have accrued on the Notes, the Company shall file with each Paying Agent (including the Series Trustee if it is a Paying Agent) promptly at the end of each calendar year
(i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information relating to such
original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time. 
 ARTICLE IX

 SUBORDINATION 
 Section 9.1 Subordination. 
 The subordination provisions of Article XIII of the Indenture shall apply; provided
that for the purpose of the Notes (but not for the purposes of any other Securities unless specifically set forth in the terms of such Securities), the term “Senior Debt” shall mean the principal of and premium and interest, if any,
including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to the Company, whether or not such claim for post-petition interest is allowed in such proceeding, on Debt, whether incurred on or prior
to the date of the Indenture; unless, in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is provided that such obligations are not superior in right of payment to the Notes or the Guarantee, or to
other Debt that is equal or subordinated to the Notes or the Guarantee, other than: (A) any Debt of the Company which when incurred and without respect to any election under Section 1111(b) of the United States Bankruptcy Code, as amended,
was without recourse to the Company; (B) any Debt which by its terms is subordinated to trade accounts payable or accrued liabilities arising in the ordinary course of business to the extent that payments made to the holders of such Debt by the
holders of the Notes and the Guarantee, as a result of the subordination provisions of the Indenture would be greater than such payments otherwise would have been as a result of any obligation of such holders of such Debt to pay amounts over to the
obligees on such trade accounts payable or accrued liabilities arising in the ordinary course of business as a result of subordination provisions to which such Debt is subject; and (C) any Debt or guarantee that is by its terms subordinated to,
or ranks equally with, the Notes and the Guarantee and the issuance of which, in the case of this clause (C) only, (x) has received the concurrence or approval of the staff of the Federal Reserve Bank of 

  

 -25- 
 SUPPLEMENTAL INDENTURE 

 
Cleveland or the staff of the Federal Reserve or (y) does not at the time of issuance prevent the Preferred Securities or the Notes from qualifying for
Tier 1 Capital treatment (irrespective of any limits on the amount of the Company’s Tier 1 Capital) under the applicable capital adequacy guidelines, regulations, policies or published interpretations of the Federal Reserve. 
 For the purposes of this definition, “Debt” shall mean, with respect to the Company, whether recourse is to all or a portion of the
assets of the Company and whether or not contingent: (1) the principal, premium, if any, and interest in respect of (a) indebtedness for money borrowed and (b) indebtedness evidenced by securities, notes, debentures, bonds or other
similar instruments issued by the Company, including obligations incurred in connection with the acquisition of property, assets or businesses; (2) all of the Company’s capital lease obligations; (3) all of the Company’s
obligations issued or assumed as the deferred purchase price of property or services other than trade accounts payable and other accrued liabilities arising in the ordinary course of business; (4) all of the Company’s reimbursement
obligations, contingent or otherwise, in respect of any letters of credit, bankers’ acceptances or similar facilities for the account of the Company; (5) all of the Company’s obligations in respect of interest rate swap, cap or other
agreements, interest rate future or option contracts, currency swap agreements, currency future or option contracts, hedging arrangements and other similar agreements; (6) all obligations of the type referred to in clauses (1) through
(5) above of other persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise; and (7) all obligations of the type referred to in clauses (1) through (6) above of other persons
secured by any lien on any of the Company’s property or assets, whether or not such obligation is assumed by the Company. 
 Section 9.2 Company
Election to End Subordination. 
 The Company may elect, at any time effective on or after the Remarketing Settlement Date in connection
with an Early Remarketing of the Notes that is not the first scheduled Remarketing, that its obligations under the Notes shall cease to be subordinated obligations, in which case the provisions of Article XIII of the Indenture and, if the
Company so elects, Section 3.11 of the Indenture, shall thereafter no longer apply to the Notes. The Company shall give the Series Trustee and each Paying Agent notice of any such election not later than the effective time, and shall promptly
issue a press release through Bloomberg Business News or other reasonable means of distribution. 
 Section 9.3 Compliance with Federal Reserve Rules.

 The Company shall not incur any additional indebtedness for borrowed money that ranks pari passu with or junior to the Notes (if
then subject to Article XIII of the Indenture), except in compliance with applicable regulations and guidelines of the Federal Reserve. 
 Section 9.4
Extension of Rights, Privileges, etc. 
 Anything contained herein or in the Indenture to the contrary notwithstanding, the rights,
privileges, protections, immunities and benefits given to the Series Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Series Trustee in each of its capacities hereunder, and each
agent, custodian and other Person employed to act hereunder. 
  

 -26- 
 SUPPLEMENTAL INDENTURE 

 ARTICLE X 
 MISCELLANEOUS 
 Section 10.1 Effectiveness. 
 This Supplemental Indenture will become effective upon its execution and delivery. 
 Section 10.2 Successors and Assigns. 
 All covenants and agreements in the Indenture, as supplemented
and amended by this Supplemental Indenture, by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 10.3 Further
Assurances. 
 The Company will, at its own cost and expense, execute and deliver any documents or agreements, and take any other actions
that the Series Trustee or its counsel may from time to time request in order to assure the Series Trustee of the benefits of the rights granted to the Series Trustee under the Indenture, as supplemented and amended by this Supplemental Indenture.

 Section 10.4 Effect of Recitals. 
 The
recitals contained herein and in the Notes, except the Series Trustee’s certificates of authentication, shall be taken as the statements of the Company, and neither the Series Trustee nor any Authenticating Agent assumes any responsibility for
their correctness. Neither the Original Trustee nor the Series Trustee makes any representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes. Neither the Original Trustee, the Series Trustee nor any
Authenticating Agent shall be accountable for the use or application by the Company of the Notes or the proceeds thereof. 
 Section 10.5 Ratification of
Indenture. 
 The Indenture as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this
Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 
 Section 10.6 Governing
Law. 
 This Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New
York. 
 *  *  *  * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

  

 -27- 
 SUPPLEMENTAL INDENTURE 

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

			
	MELLON FINANCIAL CORPORATION
		
	By:	 	/s/ Michael A. Bryson
		 	Name: Michael A. Bryson
		 	Title: Chief Financial Officer
	
	 THE BANK OF NEW YORK,
 as Original Trustee

		
	By:	 	/s/ Mary LaGumina
		 	Name: Mary LaGumina
		 	Title: Vice President
	
	 MANUFACTURERS AND TRADERS TRUST COMPANY, as
Series Trustee

		
	By:	 	/s/ Robert D. Brown
		 	Name: Robert D. Brown
		 	Title: Vice President

  

 SUPPLEMENTAL INDENTUREStock Purchase Contract Agreement

 Exhibit 4.2 
 Execution Copy 
  

 STOCK PURCHASE CONTRACT AGREEMENT 
 between 
 MELLON FINANCIAL CORPORATION 
 and 
 MELLON CAPITAL IV, 
 acting through Manufacturers and Traders Trust Company, 
 as Property Trustee 
 Dated as of June 19, 2007 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
		  	ARTICLE I	  	
			
		  	Definitions and Other Provisions of General Application	  	
			
	 Section 1.1
	  	Definitions	  	1
	 Section 1.2
	  	Form of Documents Delivered to Property Trustee	  	6
	 Section 1.3
	  	Notices	  	6
	 Section 1.4
	  	Effect of Headings and Table of Contents	  	7
	 Section 1.5
	  	Successors and Assigns	  	7
	 Section 1.6
	  	Separability Clause	  	7
	 Section 1.7
	  	Benefits of Agreement	  	7
	 Section 1.8
	  	Governing Law; Submission to Jurisdiction	  	7
	 Section 1.9
	  	Legal Holidays	  	7
	 Section 1.10
	  	No Waiver	  	8
	 Section 1.11
	  	No Consent to Assumption	  	8
	 Section 1.12
	  	No Recourse	  	8
			
		  	ARTICLE II	  	
			
		  	The Stock Purchase Contracts	  	
			
	 Section 2.1
	  	Issuance of Stock Purchase Contracts; Transferability; Assignment; Amendment	  	9
	 Section 2.2
	  	Purchase of Preferred Stock; Payment of Purchase Price	  	9
	 Section 2.3
	  	Issuance of Preferred Stock	  	10
	 Section 2.4
	  	Termination Event; Redemption Prior to Stock Purchase Date; Notice	  	10
	 Section 2.5
	  	Charges and Taxes	  	11
	 Section 2.6
	  	Contract Payments	  	11
	 Section 2.7
	  	Deferral of Contract Payments	  	14
			
		  	ARTICLE III	  	
			
		  	Remedies	  	
			
	 Section 3.1
	  	Unconditional Right of the Property Trustee to Receive Contract Payments and to Purchase Shares of Preferred Stock; Direct Action by Holders of Normal PCS or Stripped PCS	  	16
	 Section 3.2
	  	Restoration of Rights and Remedies	  	16
	 Section 3.3
	  	Rights and Remedies Cumulative	  	17
	 Section 3.4
	  	Waiver of Stay or Extension Laws	  	17
			
		  	ARTICLE IV	  	
			
		  	Consolidation, Merger, Conveyance, Transfer or Lease	  	
			
	 Section 4.1
	  	Covenant Not to Consolidate, Merge, Convey, Transfer or Lease Property Except under Certain Conditions	  	17
	 Section 4.2
	  	Rights and Duties of Successor Corporation	  	18

  

 STOCK PURCHASE CONTRACT AGREEMENT 

					
	 Section 4.3
	  	Officers’ Certificate and Opinion of Counsel Given to Property Trustee	  	18
			
		  	ARTICLE V	  	
			
		  	Covenants	  	
			
	 Section 5.1
	  	Performance under Stock Purchase Contracts	  	18
	 Section 5.2
	  	Company to Reserve Preferred Stock	  	18
	 Section 5.3
	  	Covenants as to Preferred Stock	  	18
	 Section 5.4
	  	Statements of Officers of the Company as to Default	  	18

  

 -ii- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 This STOCK PURCHASE CONTRACT
AGREEMENT, dated as of June 19, 2007, between MELLON FINANCIAL CORPORATION, a Pennsylvania corporation (the “Company”),
having its principal office at One Mellon Center, 500 Grant Street, Pittsburgh, Pennsylvania 15258, and MELLON CAPITAL IV, a Delaware statutory trust (the “Issuer Trust”), acting
through MANUFACTURERS AND TRADERS TRUST COMPANY, not in its individual capacity but solely as Property Trustee of the Issuer Trust (the
“Property Trustee”). 
 RECITALS OF THE COMPANY

 The Company has duly authorized the execution and delivery of this Agreement. 
 All things necessary to make the Stock Purchase Contracts (as defined herein) the valid obligations of the Company and to constitute these presents a
valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE,
THIS STOCK PURCHASE CONTRACT AGREEMENT WITNESSETH: For and in consideration of the agreements and obligations set forth herein and for other good and
valuable consideration the receipt and sufficiency of which is hereby acknowledged, it is mutually agreed as follows: 
 ARTICLE I

 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 1.1 Definitions. 
 For all purposes of this Agreement, except as otherwise expressly provided
or unless the context otherwise requires: 
 (a) The terms defined in this Article have the meanings assigned to them in this
Article and include the plural as well as the singular. 
 (b) All accounting terms not otherwise defined herein have the
meanings assigned to them in accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting
principles that are generally accepted in the United States at the date or time of such computation; provided that when two or more principles are so generally accepted, it shall mean that set of principles consistent with those in use by the
Company. 
 (c) The words “herein,” “hereof” and “hereunder” and other
words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision. 
 (d) Unless the context otherwise requires, any references to an “Article,” a “Section” or another subdivision refers to an Article, a Section or another subdivision, as the case may be, of this Stock Purchase Contract
Agreement. 
 “Additional Subordinated Notes” means the subordinated notes of the Company that may be issued to the Property
Trustee as provided in Section 2.7(c). 
 “Administrative Trustee” has the meaning specified in the Trust Agreement.

  

 STOCK PURCHASE CONTRACT AGREEMENT 

 “Agreement” means this instrument as originally executed or as it may from time to time
be supplemented or amended by one or more agreements supplemental hereto entered into pursuant to the applicable provisions hereof. 
 “Bankruptcy Code” means the Bankruptcy Reform Act of 1978, Title 11 of the United States Code, as amended from time to time, or any other law of the United States that from time to time provides a uniform system of
bankruptcy laws. 
 “Board of Directors” means the board of directors of the Company or any committee of that board duly
authorized to act hereunder. 
 “Business Day” means any day other than a Saturday, Sunday or any other day on which banking
institutions and trust companies in New York, New York, Pittsburgh, Pennsylvania or Wilmington, Delaware are permitted or required by law or executive order to close. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Collateral”
has the meaning specified in the Collateral Agreement. 
 “Collateral Agent” means The Bank of New York, as Collateral Agent
under the Collateral Agreement until a successor Collateral Agent shall have become such pursuant to the applicable provisions of the Collateral Agreement, and thereafter “Collateral Agent” shall mean the Person who is then the Collateral
Agent thereunder. 
 “Collateral Agreement” means the Collateral Agreement, dated as of the date hereof, among the Company,
the Issuer Trust (acting through the Property Trustee), the Collateral Agent, the Custodial Agent, the Securities Intermediary and the Securities Registrar, as amended from time to time. 
 “Company” means the Person named as the “Company” in the first paragraph of this Agreement until a successor shall have become
such pursuant to the applicable provision of this Agreement, and thereafter “Company” shall mean such successor. 
 “Contract Payments” means the payments payable by the Company on the Payment Dates in respect of each Stock Purchase Contract, at the rate of .200% per annum of the Stated Amount of each Stock Purchase Contract.

 “Custodial Agent” means The Bank of New York, as Custodial Agent under the Collateral Agreement until a successor
Custodial Agent shall have become such pursuant to the applicable provisions of the Collateral Agreement, and thereafter “Custodial Agent” shall mean the Person who is then the Custodial Agent thereunder. 
 “Deferred Contract Payments” has the meaning specified in Section 2.7(a). 
 “Early Settlement Event” has the meaning specified in the Indenture. 
 “Failed Remarketing” has the meaning specified in the Indenture. 
 “Federal Reserve” means (i) the Board of Governors of the Federal Reserve System, as from time to time constituted, or if at any
time after the execution of this Agreement the Federal Reserve is not existing and performing the duties now assigned to it, then the body or bodies performing such duties at such time, or the Federal Reserve Bank of Cleveland, or (ii) any
successor Federal Reserve Bank (or successor body performing such duties) having primary jurisdiction over the Company. 
  

 -2- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 “First Step Merger” has the meaning specified in the Trust Agreement. 
 “Guarantee Agreement” means the Guarantee Agreement between the Company, as Guarantor and Manufacturers and Traders Trust Company, as
Guarantee Trustee named thereunder, dated as of the date hereof. 
 “Holder” means a Holder (as such term is defined in the
Trust Agreement) of Normal PCS or Stripped PCS. 
 “Indenture” means the Junior Subordinated Indenture, dated as of
December 3, 1996, between the Company and The Chase Manhattan Bank, as amended and supplemented by a Supplemental Indenture, dated as of June 19, 2007, among the Company, The Bank of New York (as successor to The Chase Manhattan Bank), as
original trustee, and the Note Trustee, as series trustee, and as further amended or supplemented from time to time with respect to the Notes. 
 “Issuer Trust” means the Person named as the “Issuer Trust” in the first paragraph of this Agreement. 
 “Mellon Bank Deposit” means a deposit of cash or cash equivalent with Mellon Bank to be made on the Remarketing Settlement Date and payable on the Stock Purchase Date, with interest accruing at the rate of 5.630% per
annum from and including the date of deposit to but excluding the date of payment, calculated on the basis of the actual number of days elapsed and a year of 365 days, established in the name of the Collateral Agent pursuant to an agreement naming
the Collateral Agent as customer and providing that the bank’s jurisdiction for purposes of Article 9 of the Uniform Commercial Code is New York. 
 “Normal PCS” has the meaning specified in the Trust Agreement. 
 “Note
Trustee” means Manufacturers and Traders Trust Company, solely in its capacity as trustee pursuant to the Indenture and not in its individual capacity, or its successor in interest in such capacity, or any successor trustee appointed as
provided in the Indenture. 
 “Notes” has the meaning specified in the Trust Agreement. 
 “Officers’ Certificate” means a certificate signed by the Chairman and Chief Executive Officer, President or a Vice President, and
by the Treasurer, an Associate Treasurer, an Assistant Treasurer, the Controller, the Secretary or an Assistant Secretary of the Company or the duly authorized designee of the foregoing, and delivered to the Property Trustee. 
 “Opinion of Counsel” means a written opinion of legal counsel, who may be counsel to the Company (and who may be an employee of the
Company), and who shall be reasonably acceptable to the Property Trustee. An Opinion of Counsel may rely on certificates as to matters of fact. 
 “Parity Securities” has the meaning specified in Section 2.7(d). 
 “Paying Agent” has the
meaning specified in the Trust Agreement. 
 “Payment Account” has the meaning specified in the Trust Agreement. 

 

 -3- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 “Payment Date” means (i) each June 20 and December 20 of each year
occurring prior to the Stock Purchase Date, commencing on December 20, 2007 and (ii) the Stock Purchase Date. 
 “PCS” has the meaning specified in the Trust Agreement. 
 “Person” means any individual, corporation,
partnership, association, joint venture or limited liability company, unincorporated organization, government or any agency or political subdivision thereof or any other entity of a similar nature. 
 “Pledged Notes” has the meaning specified in the Collateral Agreement. 
 “Pledged Securities” means the Pledged Notes and the Pledged Treasury Securities. 
 “Pledged Treasury Securities” has the meaning specified in the Collateral Agreement. 
 “Preferred Stock” means the Non-Cumulative Perpetual Preferred Stock, Series L, $100,000 liquidation preference per share with no par
value per share, of the Company. 
 “Proceeds” has the meaning specified in the Collateral Agreement. 
 “Property Trustee” means Manufacturers and Traders Trust Company, not in its individual capacity but solely as Property Trustee under
the Trust Agreement until a successor Property Trustee shall have become such pursuant to the applicable provisions of the Trust Agreement, and thereafter “Property Trustee” shall mean the Person who is then Property Trustee thereunder.

 “Qualifying Treasury Securities” has the meaning specified in the Trust Agreement. 
 “Redemption Price” has the meaning specified in the Trust Agreement. 
 “Remarketing” means a remarketing of Notes pursuant to the Indenture. 
 “Remarketing Agent” has the meaning specified in the Trust Agreement. 
 “Remarketing Agreement” has the meaning specified in the Trust Agreement. 
 “Remarketing Periods” has the meaning specified in the Indenture. 
 “Remarketing Settlement Date” has the meaning specified in the Indenture. 
 “Securities Act” means the Securities Act of 1933 and any successor statute thereto, in each case as amended from time to time, and the
rules and regulations promulgated thereunder. 
 “Securities Intermediary” means The Bank of New York, as Securities
Intermediary under the Collateral Agreement until a successor Securities Intermediary shall have become such pursuant to the applicable provisions of the Collateral Agreement, and thereafter “Securities Intermediary” shall mean such
successor or any subsequent successor who is appointed pursuant to the Collateral Agreement. 
 “Securities Registrar” means
The Bank of New York, as Securities Registrar under the Collateral Agreement until a successor Securities Registrar shall have become such pursuant to the applicable provisions of the Collateral Agreement, and thereafter “Securities
Registrar” shall mean such successor or any subsequent successor who is appointed pursuant to the Collateral Agreement. 
  

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 STOCK PURCHASE CONTRACT AGREEMENT 

 “Senior Debt” has the meaning specified in the Indenture. 
 “Stated Amount” means, with respect to any one Stock Purchase Contract, $100,000. 
 “Stock Purchase Contract” means a contract having a Stated Amount of $100,000 obligating (i) the Company to sell, and the Issuer
Trust (acting through the Property Trustee) to purchase, one share of Preferred Stock for $100,000 on the Stock Purchase Date and (ii) the Company to pay Contract Payments to the Issuer Trust, in each case on the terms and subject to the
conditions set forth in Article II and Article V. 
 “Stock Purchase Date” means the first to occur of any
March 20, June 20, September 20 or December 20, or if any such day is not a Business Day, the next Business Day, after (i) the Remarketing Settlement Date or (ii) the Remarketing Period of a Failed
Remarketing. 
 “Stripped PCS” has the meaning specified in the Trust Agreement. 
 “Successful” has the meaning specified in the Indenture. 
 “Termination Date” means the date, if any, on which a Termination Event occurs or the Company redeems all the Notes prior to the Stock Purchase Date in accordance with the Indenture. 
 “Termination Event” means the occurrence of any of the following events at any time on or prior to the Stock Purchase Date: 

(i) a judgment, decree or court order shall have been entered granting relief under the Bankruptcy Code, adjudicating the Company to be insolvent, or
approving as properly filed a petition seeking reorganization or liquidation of the Company or any other similar applicable federal or state law and if such judgment, decree or order shall have been entered more than 90 days prior to the Stock
Purchase Date, such decree or order shall have continued undischarged and unstayed for a period of 90 days; 
 (ii) a judgment, decree or
court order for the appointment of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of the Company or of its property, or for the termination or liquidation of its affairs, shall have been entered and if such judgment,
decree or order shall have been entered more than 90 days prior to the Stock Purchase Date, such judgment, decree or order shall have continued undischarged and unstayed for a period of 90 days; or 
 (iii) the Company shall file a petition for relief under the Bankruptcy Code, or shall consent to the filing of a bankruptcy proceeding against it, or
shall file a petition or answer or consent seeking reorganization or liquidation under the Bankruptcy Code or any other similar applicable federal or state law, or shall consent to the filing of any such petition, or shall consent to the appointment
of a receiver or liquidator or trustee or assignee in bankruptcy or insolvency of it or of its property, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due.

 “Trust Agreement” means the Amended and Restated Trust Agreement, dated as of the date hereof, among the Company, as
Depositor, Manufacturers and Traders Trust Company, as Property Trustee, M&T Trust Company of Delaware, as Delaware Trustee and the Administrative Trustees (each as named therein) and the several Holders (as defined therein). 
 “Vice President” means any vice president, whether or not designated by a number or a word or words added before or after the title
“Vice President.” 
  

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 STOCK PURCHASE CONTRACT AGREEMENT 

 Section 1.2 Form of Documents Delivered to Property Trustee. 
 (a) In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a
certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which its certificate or
opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company unless such counsel
knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 (b) Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Agreement, they may, but need not, be
consolidated and form one instrument. 
 Section 1.3 Notices. 
 Any notice or communication is duly given if in writing and delivered in Person or mailed by first-class mail (registered or certified, return receipt requested), telecopier (with receipt confirmed) or overnight air
courier guaranteeing next day delivery, to the others’ address; provided that notice shall be deemed given to the Property Trustee only upon receipt thereof: 
 If to the Issuer Trust or the Property Trustee: 
 Manufacturers and Traders Trust Company,

 as Property Trustee of Mellon Capital IV 
 25 South Charles Street-16th Floor 
 Mail Code: MD2-CS58 
 Baltimore, MD 21201 
 If to the Company: 
 Mellon
Financial Corporation 
 One Mellon Center 
 500 Grant Street 
 Pittsburgh, Pennsylvania 15258 
 Attention: Secretary 
 Facsimile: (412) 234-1813 
  

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 STOCK PURCHASE CONTRACT AGREEMENT 

 If to the Collateral Agent: 
 The Bank of New York, 
 as Collateral Agent 
 101 Barclay Street, 8W 
 New York, New York 10286 
 Attention: Corporate Trust Division — Corporate Finance Unit 
 Facsimile:
(212) 815-5704 
 Section 1.4 Effect of Headings and Table of Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 Section 1.5 Successors and Assigns. 
 All covenants
and agreements in this Agreement by the Company and the Issuer Trust shall bind their respective successors and assigns, whether so expressed or not. 
 Section 1.6 Separability Clause. 
 In case any provision in this Agreement shall be invalid, illegal or unenforceable by a
court of competent jurisdiction, the validity, legality and enforceability of the remaining provisions hereof and thereof shall not in any way be affected or impaired thereby. 
 Section 1.7 Benefits of Agreement. 
 Nothing contained in this Agreement, express or implied, shall
give to any Person, other than the parties hereto and their successors and assigns hereunder and, to the extent provided hereby, the holders of Senior Debt and any Paying Agent, and in the case of Section 1.10 and 2.2(c) only the Collateral
Agent any benefits or any legal or equitable right, remedy or claim under this Agreement. 
 Section 1.8 Governing Law; Submission to Jurisdiction.

 This Agreement shall be governed by and construed in accordance with the laws of the State of New York without regard to the
conflict of law principles thereof. The Company and the Issuer Trust hereby submit to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and the courts of the State of New York (in each case
sitting in New York County) for the purposes of all legal proceedings arising out of or relating to this Agreement or the transactions contemplated hereby. The Company and the Issuer Trust irrevocably waive, to the fullest extent permitted by
applicable law, any objection that they may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum.

 Section 1.9 Legal Holidays. 
 (a) In
any case where any Payment Date shall not be a Business Day (notwithstanding any other provision of this Agreement), Contract Payments or other distributions shall not be paid on such date, but Contract Payments or such other distributions shall be
paid on the next succeeding Business Day with the same force and effect as if made on such Payment Date. No interest shall accrue or be payable by the Company or to the Property Trustee (on behalf of the Issuer Trust) for the period from and after
any such Payment Date on such successive Business Day. 
  

 -7- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 (b) In any case where the Stock Purchase Date shall not be a Business Day (notwithstanding any other
provision of this Agreement), the Stock Purchase Contracts shall not be performed and shall not be effected on such date, but the Stock Purchase Contracts shall be performed on the next succeeding Business Day with the same force and effect as if
made on such Stock Purchase Date. 
 Section 1.10 No Waiver. 
 No failure on the part of the Company, the Property Trustee, the Collateral Agent, the Securities Intermediary or any of their respective agents to exercise, and no course of dealing with respect to, and no delay in
exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by the Company, the Property Trustee, the Collateral Agent, the Securities Intermediary or any of their respective agents of
any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 
 Section 1.11 No Consent to Assumption. 
 The Property
Trustee for and on behalf of the Issuer Trust hereby expressly withholds any consent to the assumption under Section 365 of the Bankruptcy Code or otherwise, of the Stock Purchase Contract by the Company or its trustee, receiver, liquidator or
a Person performing similar functions in the event that the Company becomes the debtor under the Bankruptcy Code or subject to other similar state or Federal law providing for reorganization or liquidation. 
 Section 1.12 No Recourse 
 It is expressly understood
and agreed by the parties hereto that (a) this Agreement is executed and delivered by Manufacturers and Traders Trust Company, not individually or personally but solely as Property Trustee of the Issuer Trust, in the exercise of the powers and
authority conferred and vested in it, (b) each of the representations, warranties, covenants, undertakings and agreements herein made on the part of the Issuer Trust is made and intended not as personal representations, warranties, covenants,
undertakings and agreements by Manufacturers and Traders Trust Company but is made and intended for the purpose of binding only the Issuer Trust, (c) nothing herein contained shall be construed as creating any liability on the part of
Manufacturers and Traders Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly waived by the parties hereto and by any Person claiming by,
through or under the parties hereto and (d) under no circumstances shall Manufacturers and Traders Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer Trust or be liable for the breach or failure of
any obligation, representation, warranty or covenant made or undertaken by the Issuer Trust under this Agreement or any other related documents. 
  

 -8- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 ARTICLE II 
 THE STOCK PURCHASE CONTRACTS 
 Section 2.1 Issuance of Stock Purchase Contracts; Transferability; Assignment;
Amendment. 
 (a) Contemporaneously with the execution and delivery of this Agreement, the Company hereby issues 5,001 Stock Purchase
Contracts having the terms and conditions set forth herein to the Issuer Trust (acting through the Property Trustee), which by its execution and delivery of this Agreement is entering into and agreeing to be bound by the Stock Purchase Contracts. No
certificates will be issued to evidence the Stock Purchase Contracts. 
 (b) To the fullest extent permitted by law, other than a transfer in
connection with (i) a merger, consolidation, amalgamation or replacement of the Issuer Trust or (ii) any conveyance, transfer or lease by the Issuer Trust of its properties and assets substantially as an entirety to, and the assumption by,
a successor entity pursuant to Section 9.5 of the Trust Agreement, any attempted transfer of the Stock Purchase Contracts shall be void. 
 (c) To the fullest extent permitted by law, any assignment by the Issuer Trust of its rights hereunder, other than an assignment of this Agreement in connection with a merger, consolidation, amalgamation or replacement of the Issuer Trust
or any conveyance, transfer or lease by the Issuer Trust of its properties and assets substantially as an entirety to, and the assumption by, a successor entity pursuant to Section 9.5 of the Trust Agreement, shall be void. 
 (d) No amendment, modification or waiver of any provision of this Agreement shall be effective against either party hereto unless it is duly authorized
by resolution of the Board of Directors of the Company and permitted under Section 6.1(c) of the Trust Agreement. 
 Section 2.2 Purchase of
Preferred Stock; Payment of Purchase Price. 
 (a) Each Stock Purchase Contract shall obligate the Issuer Trust (acting through the
Property Trustee) to purchase, and the Company to sell, on the Stock Purchase Date at a price equal to the Stated Amount, one share of Preferred Stock, unless a Termination Event shall have occurred or the Company shall have redeemed all of the
Notes prior to the Stock Purchase Date in accordance with the Indenture. 
 (b) The Issuer Trust will satisfy its obligations under
Section 2.2(a) to pay the purchase price in respect of the Stock Purchase Contracts out of (i) the Proceeds at maturity of the Pledged Treasury Securities and (ii) if there has been a Successful Remarketing, to the extent of the
excess of the purchase price over the amount of the Proceeds at maturity of the Pledged Treasury Securities, the Mellon Bank Deposit; provided that in the event that a receiver has been appointed for the purpose of liquidating or winding up
the affairs of Mellon Bank while Mellon Bank is holding the Mellon Bank Deposit, in lieu of payment of the Mellon Bank Deposit the Issuer Trust shall cause the Collateral Agent to assign its rights in the Mellon Bank Deposit to the Company on the
Stock Purchase Date to the extent of such amount required in full satisfaction of the Issuer Trust’s obligation to pay the Mellon Bank Deposit pursuant to this clause (ii). 
 (c) If there is a Failed Remarketing, the Collateral Agent for the benefit of the Company reserves all of its rights as a secured party with respect to
the Pledged Notes and, subject to applicable law and Section 2.2(d), may, among other things, (i) retain such Pledged Notes or their Proceeds in full satisfaction of the Issuer Trust’s obligations under the Stock Purchase Contracts or
(ii) sell 

  

 -9- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 
such Pledged Notes in one or more public or private sales as permitted by applicable law, in order to satisfy the Issuer Trust’s obligations under
Section 2.2(a) to pay the purchase price in respect of the Stock Purchase Contracts to the extent not satisfied out of the Proceeds at maturity of the Pledged Treasury Securities. 
 (d) The obligations of the Issuer Trust to pay the purchase price in respect of the Stock Purchase Contracts are non-recourse obligations and are payable
solely out of the Proceeds of any Collateral pledged to secure the obligations of the Issuer Trust and the assignment of the Mellon Bank Deposit as set forth in this Section 2.2, and in no event will the Property Trustee be liable for any
deficiency between the Proceeds of the disposition of Collateral and the purchase price in respect of the Stock Purchase Contracts. 
 (e)
The Company shall not be obligated to cause the issuance of any share of Preferred Stock in respect of a Stock Purchase Contract or deliver any certificates therefor to the Property Trustee unless the Company shall have received payment for the
share of Preferred Stock to be purchased thereunder in the manner herein set forth. 
 Section 2.3 Issuance of Preferred Stock. 
 Unless a Termination Event shall have occurred or the Company shall have redeemed all the Notes prior to the Stock Purchase Date in accordance with the
Indenture, on the Stock Purchase Date upon receipt of the aggregate purchase price payable on all Stock Purchase Contracts, the Company shall cause to be issued and deposited with the Property Trustee (or its nominee), one or more certificates
representing newly issued shares of Preferred Stock registered in the name of the Property Trustee (or its nominee) as custodian for the Issuer Trust to which the Issuer Trust is entitled hereunder. 
 Section 2.4 Termination Event; Redemption Prior to Stock Purchase Date; Notice. 
 (a) The Stock Purchase Contracts and all obligations and rights of the Company and the Issuer Trust (including the obligations and rights of the Property Trustee acting on behalf of the Issuer Trust) thereunder,
including, without limitation, the right of the Issuer Trust to receive and the obligation of the Company to pay any Contract Payments (including any accrued and unpaid Contract Payments), and the rights and obligations of the Issuer Trust to
purchase shares of Preferred Stock, shall immediately and automatically terminate, without the necessity of any notice or action by the Issuer Trust, the Property Trustee or the Company, if a Termination Event shall have occurred on or prior to the
Stock Purchase Date. 
 (b) The Stock Purchase Contracts and all obligations and rights of the Company and the Issuer Trust (including the
obligations and rights of the Property Trustee acting on behalf of the Issuer Trust) thereunder, including, without limitation, the right of the Issuer Trust to receive and the obligation of the Company to pay any Contract Payments, except as
provided in this Section 2.4(b), and the rights and obligations of the Issuer Trust to purchase shares of Preferred Stock, shall also terminate automatically upon the redemption of all the Notes by the Company prior to the Stock Purchase Date
in accordance with the Indenture. Upon any such termination, the Company shall pay to the Issuer Trust for distribution to the Holders of the Normal PCS and the Stripped PCS all accrued and unpaid Contract Payments. 
 (c) Upon the occurrence of a Termination Event or the redemption of all the Notes by the Company prior to the Stock Purchase Date in accordance with the
Indenture, the Company shall promptly but in no event later than five Business Days thereafter give written notice to the Property Trustee and the Collateral Agent of such event. 
  

 -10- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 Section 2.5 Charges and Taxes. 
 The Company will pay all stock transfer and similar taxes attributable to the initial issuance and delivery of the shares of Preferred Stock pursuant to the Stock Purchase Contracts; provided that the Company
shall not be required to pay any such tax or taxes that may be payable in respect of any issuance of a share of Preferred Stock in a name other than in the name of the Property Trustee or its nominee, as custodian for the Issuer Trust, and the
Company shall not be required to issue or deliver such share certificates unless or until the Person or Persons requesting the issuance thereof shall have paid to the Company, in addition to any Stated Amount, the amount of such tax or shall have
established to the satisfaction of the Company that such tax has been paid. 
 Section 2.6 Contract Payments. 
 (a) Subject to Section 2.7, the Company shall pay, in arrears on each Payment Date, the Contract Payments payable in respect of each Stock Purchase
Contract to the Property Trustee or upon its order. The Contract Payments will be payable by wire transfer to the Payment Account established under the Trust Agreement by The Bank of New York, as Paying Agent, and the Property Trustee so directs.
The Contract Payments will accrue from and including June 19, 2007 or from and including the most recent Payment Date on which Contract Payments have been paid or duly provided for (subject to deferral as set forth in Section 2.7) to but
excluding the next succeeding Payment Date. Contract Payments will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 (b) The Company’s obligations with respect to Contract Payments, if any, will be subordinated and junior in right of payment to the Company’s obligations under any Senior Debt to the extent and in the manner set forth in
Sections 2.6(c) through (m). 
 (c) No payment or distribution in respect of any Contract Payments shall be made by the Company unless
full payment of amounts then due for principal (and premium, if any), sinking funds, and interest on Senior Debt of the Company has been made or duly provided for in money or money’s worth in accordance with its terms. No payment or
distribution in respect of any Contract Payments shall be made by the Company if, at the time of such payment or immediately after giving effect thereto, there shall have occurred an event of default with respect to any Senior Debt of the Company or
in any instrument under which the same is outstanding, or an event of default with respect to any Senior Debt of the Company resulting in the acceleration of the maturity thereof, or if any judicial proceedings are pending with respect to any such
default. 
 (d) Upon the occurrence of any event of default referred to in Section 2.6(c) that shall not have been cured or waived:

 (i) all Senior Debt (including any interest thereon accruing after the commencement of any such proceedings) shall first be
paid in full before any payment or distribution, whether in cash, securities or other property, shall be made to the Property Trustee in respect of Contract Payments; 
 (ii) any payment or distribution, whether in cash, securities or other property that would otherwise (but for these subordination
provisions) be payable or deliverable in respect of Contract Payments shall be paid or delivered directly to the holders of Senior Debt in accordance with the priorities then existing among such holders until all Senior Debt (including any interest
thereon accruing after the commencement of any such proceedings) shall have been paid in full; 
  

 -11- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 (iii) after payment in full of all sums owing with respect to Senior Debt, the Property
Trustee, together with the holders of any obligations of the Company ranking on a parity with the Contract Payments, shall be entitled to be paid from the remaining assets of the Company the amounts at the time due and owing on account of unpaid
Contract Payments and interest thereon and such other obligations before any payment or other distribution, whether in cash, securities or other property, shall be made on account of any capital stock of the Company or any obligations of the Company
ranking junior to the Company’s obligations to make Contract Payments under the Stock Purchase Contracts and such other obligations; and 
 (iv) in the event that, notwithstanding the foregoing, any payment or distribution of any character or any security, whether in cash, securities or other property, shall be received by the Property Trustee or the
Issuer Trust in contravention of any of the terms hereof such payment or distribution or security shall be received in trust for the benefit of, and shall be paid over or delivered and transferred back to the transferor for distribution, or to the
holders of the Senior Debt at the time outstanding in accordance with the priorities then existing among such holders for application to the payment of all Senior Debt remaining unpaid, to the extent necessary to pay all such Senior Debt in full. In
the event of the failure of the Property Trustee or the Issuer Trust to endorse or assign any such payment, distribution or security, each holder of Senior Debt is hereby irrevocably authorized to endorse or assign the same. 
 (e) For purposes of Sections 2.6(c) through (p), the words “cash, securities or other property” shall not be deemed to include shares of
stock of the Company as reorganized or readjusted, or securities of the Company or any other Person provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in Sections 2.6(b)
through (m) with respect to such Contract Payments on the Stock Purchase Contracts to the payment of all Senior Debt that may at the time be outstanding; provided that (i) the indebtedness or guarantee of indebtedness, as the case
may be, that constitutes Senior Debt is assumed by the Person, if any, resulting from any such reorganization or readjustment, and (ii) the rights of the holders of the Senior Debt are not, without the consent of each such holder adversely
affected thereby, altered by such reorganization or readjustment. 
 (f) Any failure by the Company to make any payment on or perform any
other obligation under Senior Debt, other than any indebtedness incurred by the Company or assumed or guaranteed, directly or indirectly, by the Company for money borrowed (or any deferral, renewal, extension or refunding thereof) or any
indebtedness or obligation as to which the provisions of Sections 2.6(b) through (m) shall have been waived by the Company in the instrument or instruments by which the Company incurred, assumed, guaranteed or otherwise created such
indebtedness or obligation, shall not be deemed a default or event of default if (i) the Company shall be disputing its obligation to make such payment or perform such obligation and (ii) either (A) no final judgment relating to such
dispute shall have been issued against the Company that is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal
or review, or (B) in the event a judgment that is subject to further review or appeal has been issued, the Company shall in good faith be prosecuting an appeal or other proceeding for review and a stay of execution shall have been obtained
pending such appeal or review. 
 (g) Subject to the irrevocable payment in full of all Senior Debt, the Property Trustee on behalf of the
Issuer Trust shall be subrogated (equally and ratably with the holders of all obligations of the Company that by their express terms are subordinated to Senior Debt of the Company to the same extent as payment of the Contract Payments in respect of
the Stock Purchase Contracts is subordinated and that are entitled to like rights of subrogation) to the rights of the holders of Senior Debt to receive payments or distributions of cash, securities or other property of the Company applicable to the
Senior Debt until all such Contract Payments owing on the Stock Purchase Contracts shall be paid in full, and as between the Company, its creditors other than holders of such 

  

 -12- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 
Senior Debt and the Property Trustee, no such payment or distribution made to the holders of Senior Debt by virtue of Sections 2.6(b) through
(m) that otherwise would have been made to the Property Trustee shall be deemed to be a payment by the Company on account of such Senior Debt, it being understood that the provisions of Sections 2.6(b) through (m) are intended solely
for the purpose of defining the relative rights of the Property Trustee, on the one hand, and the holders of Senior Debt, on the other hand. 
 (h) Nothing contained in Sections 2.6(b) through (m) or elsewhere in this Agreement is intended to or shall impair, as among the Company, its creditors other than the holders of Senior Debt and the Property Trustee, the obligation
of the Company, which is absolute and unconditional, to pay to the Property Trustee such Contract Payments on the Stock Purchase Contracts as and when the same shall become due and payable in accordance with their terms, or is intended to or shall
affect the relative rights of the Property Trustee and creditors of the Company other than the holders of Senior Debt, nor shall anything herein or therein prevent the Property Trustee from exercising all remedies otherwise permitted by applicable
law upon default under this Agreement, subject to the rights, if any, under Sections 2.6(b) through (m), of the holders of Senior Debt in respect of cash, securities or other property of the Company received upon the exercise of any such
remedy. 
 (i) Upon payment or distribution of assets of the Company referred to in Sections 2.6(b) through (m), the Property Trustee
shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate
of the trustee in bankruptcy, receiver, conservator, assignee for the benefit of creditors, liquidating trustee or other Person making any payment or distribution, delivered to the Property Trustee, for the purpose of ascertaining the Persons
entitled to participate in such payment or distribution, the holders of the Senior Debt and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to Sections 2.6(b) through (m); provided that the foregoing shall not be construed as creating any duty on the part of the Property Trustee. 
 (j) The Property Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Debt (or a trustee or representative on behalf of such holder) to
establish that such notice has been given by a holder of Senior Debt or a trustee or representative on behalf of any such holder or holders. In the event that the Property Trustee determines in good faith that further evidence is required with
respect to the right of any Person as a holder of Senior Debt to participate in any payment or distribution pursuant to Section 2.6(b) through (m), the Property Trustee may request such Person to furnish evidence to the reasonable satisfaction
of the Property Trustee as to the amount of Senior Debt held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under
Sections 2.6(b) through (m), and, if such evidence is not furnished, the Property Trustee may defer payment to such Person pending judicial determination as to the right of such Person to receive such payment, provided that the foregoing
shall not be construed as imposing any obligation or duty on the part of the Property Trustee. 
 (k) Nothing contained in
Sections 2.6(b) through (m) shall affect the obligations of the Company to make, or prevent the Company from making, payment of the Contract Payments, except as otherwise provided in Sections 2.6(b) through (m). 
 (l) Manufacturers and Traders Trust Company, or any successor Property Trustee, in its individual capacity shall be entitled to all the rights set forth
in this Section with respect to any Senior Debt at the time held by it, to the same extent as any other holder of Senior Debt and nothing in this Agreement shall deprive Manufacturers and Traders Trust Company, or any successor Property Trustee of
any of its rights as such holder. 
  

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 STOCK PURCHASE CONTRACT AGREEMENT 

 (m) No right of any present or future holder of any Senior Debt to enforce the subordination herein shall
at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any noncompliance by the Company with the terms, provisions and covenants of this Agreement, regardless of any knowledge thereof that
any such holder may have or be otherwise charged with. 
 (n) Nothing in this Section 2.6 shall apply to claims of, or payments to, the
Property Trustee under or pursuant to Section 2.7. 
 (o) With respect to the holders of Senior Debt, (i) the Property Trustee
shall not be liable to any such holders if it shall pay over or distribute to the Holders or to the Company or any other Person cash, securities or other property received by it to which any holders of Senior Debt shall be entitled by virtue of this
Section 2.6 or otherwise; (ii) no implied covenants or obligations shall be read into this Agreement against the Property Trustee; and (iii) the Property Trustee shall owe no duties, fiduciary or otherwise, to such holders.

 (p) Nothing in this Section 2.6 shall apply to any payment or distribution, whether in cash, securities or other property, made to,
or paid over or distributed by, any Paying Agent in respect of Contract Payments or otherwise. The Paying Agent shall owe no duty, fiduciary or otherwise, to any holder of Senior Debt and shall not be liable to any holders of Senior Debt if it shall
pay over or distribute to the Holders or to the Company or any other Person cash, securities or other property to which any holders of Senior Debt shall otherwise be entitled by virtue of this Section 2.6 or otherwise; and no implied covenants
or obligations shall be read into this Agreement against the Paying Agent. 
 Section 2.7 Deferral of Contract Payments. 
 (a) The Company shall have the right (which will be exercised if so directed by the Federal Reserve), at any time prior to the Stock Purchase Date, to
defer the payment of any or all of the Contract Payments otherwise payable on any Payment Date, but only if the Company shall give the Property Trustee (with a copy to the Paying Agent) written notice of its election to defer each such deferred
Contract Payment (specifying the amount to be deferred) at least ten Business Days prior to the earlier of (i) the next succeeding Payment Date or (ii) the date the Property Trustee and the Administrative Trustees are required to give
notice of any record date or Payment Date with respect to any series of PCS to the New York Stock Exchange, any other national securities exchange, automated interdealer quotation system or other applicable self regulatory organization or to the
Holders, but in any event not less than one Business Day prior to such record date. Any Contract Payments so deferred shall, to the extent permitted by law, accrue interest thereon at the rate originally applicable to the Notes (calculated on the
same basis as originally applicable to the Notes), compounding on each succeeding Payment Date, until paid in full (such deferred installments of Contract Payments, if any, together with the additional Contract Payments, if any, accrued thereon,
being referred to herein as the “Deferred Contract Payments”). Deferred Contract Payments, if any, shall be due on the next succeeding Payment Date except to the extent that payment is deferred pursuant to this Section 2.7,
except as provided under Section 1.9. No Contract Payments may be deferred to a date that is after the Stock Purchase Date and no such deferral period may end other than on a Payment Date, except as provided under Section 1.9. If the Stock
Purchase Contracts are terminated upon the occurrence of a Termination Event or the redemption of all the Notes by the Company prior to the Stock Purchase Date in accordance with the Indenture, the Issuer Trust’s right to receive any Contract
Payments and any Deferred Contract Payments will terminate. 
 (b) In the event that the Company elects to defer the payment of Contract
Payments until a Payment Date prior to the Stock Purchase Date, then all Deferred Contract Payments, if any, shall be payable to the Property Trustee on behalf of the Issuer Trust on such Payment Date, except as provided under Section 1.9.

  

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 STOCK PURCHASE CONTRACT AGREEMENT 

 (c) In the event that the Company elects to defer the payment of Contract Payments on the Stock Purchase
Contracts and such deferral is continuing on the Stock Purchase Date, the Property Trustee on behalf of the Issuer Trust will receive on the Stock Purchase Date in lieu of a cash payment, in addition to the shares of Preferred Stock to be issued
pursuant to Section 2.3, Additional Subordinated Notes that will (i) have a principal amount equal to the aggregate amount of Deferred Contract Payments at the Stock Purchase Date, (ii) mature on the later of June 20, 2016 and
five years after the first Payment Date on which any of such Deferred Contract Payments was payable, (iii) bear interest at the rate per annum equal to the originally applicable rate of interest on the Notes (subject to deferral on the
same basis as the Contract Payments; provided that the reference in clause (i)(2) of Section 2.7(d) to the beginning of the deferral period shall be deemed to refer to the beginning of the deferral period with respect to the
Contract Payments), (iv) be subordinate and rank junior in right of payment to all of the Company’s Senior Debt on the same basis as the Contract Payments and (v) be redeemable at the option of the Company at any time or from time to
time prior to their stated maturity at a redemption price equal to the principal amount thereof plus any accrued and unpaid interest to the date of redemption; provided that the Company shall register such Additional Subordinated Notes under
the Securities Act prior to the delivery thereof to the Property Trustee unless they may be so delivered pursuant to an exemption or exception from registration thereunder. 
 (d) In the event the Company exercises its option to defer the payment of Contract Payments then, until the earlier of (x) the Termination Date or
(y) the date on which the Company shall have either paid all Deferred Contract Payments to the Property Trustee in cash or repaid all amounts outstanding on the Additional Subordinated Notes, the Company shall not (i) declare or pay any
dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any shares of its capital stock, including Preferred Stock; (ii) make any payment of principal of or interest or premium, if any, on or
repay, repurchase or redeem any debt security of the Company that ranks or make any payments under any guarantee that ranks, upon liquidation, pari passu in all respects with the Notes (“Parity Securities”) or any debt
securities of the Company that rank junior to the Notes; or (iii) make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company that by its terms ranks junior in interest to the
Company’s guarantee related to the PCS other than, in each case: 
 (i) any repurchase, redemption or other acquisition
of shares of the Company’s capital stock in connection with (1) any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors, consultants or independent
contractors, (2) the satisfaction of the Company’s obligations pursuant to any contract entered into in the ordinary course prior to the beginning of the deferral period, (3) a dividend reinvestment or shareholder purchase plan, or
(4) the issuance of the Company’s capital stock, or securities convertible into or exercisable for such capital stock, as consideration in an acquisition transaction entered into prior to the beginning of the deferral period; 

(ii) any exchange, redemption or conversion of any class or series of the Company’s capital stock, or the capital stock of one of
its subsidiaries, for any other class or series of the Company’s capital stock, or any class or series of the Company’s indebtedness for any class or series of its capital stock; 
 (iii) any purchase of fractional interests of the Company’s capital stock pursuant to the conversion or exchange provisions of such
capital stock or the security being converted or exchanged; 
  

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 STOCK PURCHASE CONTRACT AGREEMENT 

 (iv) any declaration of a dividend in connection with any rights plan, or the issuance of
rights, stock or other property under any rights plan, or the redemption or repurchase of rights pursuant thereto; 
 (v)
payments in respect of the Company’s guarantee related to the PCS executed for the benefit of the Holders of the PCS; 
 (vi) payments of interest on Parity Securities (including the Notes) in additional Parity Securities (including any additional junior subordinated notes) and any repurchase of Parity Securities (including the Notes) in exchange for
preferred stock (including the Preferred Stock), in each case in connection with a Failed Remarketing or similar event; 
 (vii) any payment of current or deferred interest on Parity Securities that is made pro rata to the amounts due on such Party Securities (including the Notes) and any payments of principal of or deferred interest on Parity Securities that,
if not made, would cause the Company to breach the terms of the instrument governing such Parity Securities; or 
 (viii) any
dividend in the form of stock, warrants, options or other rights where the dividend stock or stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with
or junior to such stock. 
 ARTICLE III 
 REMEDIES 
 Section 3.1 Unconditional Right of the Property Trustee to Receive Contract Payments and to
Purchase Shares of Preferred Stock; Direct Action by Holders of Normal PCS or Stripped PCS. 
 The Property Trustee on behalf of the
Issuer Trust shall have the right, which is absolute and unconditional, (i) subject to Article II, to receive each Contract Payment with respect to each Stock Purchase Contract on the respective Payment Date and (ii) except upon and
following a Termination Event or the redemption of all the Notes by the Company prior to the Stock Purchase Date in accordance with the Indenture, to purchase one share of Preferred Stock pursuant to such Stock Purchase Contract and, in each such
case, to institute suit for the enforcement of any such right to receive Contract Payments and the right to purchase such share of Preferred Stock, and such rights shall not be impaired without its consent. Up to and including the Stock Purchase
Date, or the earlier termination of the Stock Purchase Contracts, any Holder shall have the right, upon default in the payment of any Contract Payment with respect to any Stock Purchase Contract on the respective Payment Date (subject to Article
II), to institute a suit directly against the Company for enforcement of payment to such Holder of Contract Payments on Stock Purchase Contracts (or interests therein) having a stated amount equal to the aggregate Liquidation Amount (as defined in
the Trust Agreement) of the PCS held by such Holder. 
 Section 3.2 Restoration of Rights and Remedies. 
 If the Property Trustee on behalf of the Issuer Trust has instituted any proceeding to enforce any right or remedy under this Agreement and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Issuer Trust, then and in every such case, subject to any determination in such proceeding, the Company and the Issuer Trust shall be restored
severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Property Trustee on behalf of the Issuer Trust shall continue as though no such proceeding had been instituted. 
  

 -16- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 Section 3.3 Rights and Remedies Cumulative. 
 No right or remedy herein conferred upon or reserved to the Property Trustee on behalf of the Issuer Trust is intended to be exclusive of any other right
or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. Every right and remedy given by this Article III or by law to the Property Trustee may be exercised
from time to time, and as often as may be deemed expedient, by the Property Trustee. 
 Section 3.4 Waiver of Stay or Extension Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Agreement; and the Company (to the extent that it may lawfully do so)
hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Property Trustee, but will suffer and permit the execution of every such power
as though no such law had been enacted. 
 ARTICLE IV 
 CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 Section 4.1 Covenant Not to Consolidate, Merge, Convey,
Transfer or Lease Property Except under Certain Conditions. 
 The Company covenants that it will not consolidate with, convert into, or
merge with and into, any other entity or sell, assign, transfer, lease or convey all or substantially all of its properties and assets to any Person or entity, unless: 
 (a) the successor shall be a corporation organized and existing under the laws of the United States of America or a State thereof or the District of Columbia and (except in the case of the First Step Merger) such
corporation shall expressly assume all the obligations of the Company under the Stock Purchase Contracts, this Agreement, the Collateral Agreement, the Trust Agreement, the Indenture, the Guarantee Agreement and the Remarketing Agreement by one or
more supplemental agreements in form reasonably satisfactory to the Property Trustee, executed and delivered to the Property Trustee by such corporation; 
 (b) such successor corporation shall not, immediately after such consolidation, conversion, merger, sale, assignment, transfer, lease or conveyance, be in default of payment obligations under the Stock Purchase
Contracts, this Agreement, the Collateral Agreement, the Trust Agreement or the Remarketing Agreement or in material default in the performance of any other covenants under any of the foregoing agreements; and 
 (c) the successor entity shall have reserved sufficient authorized and unissued shares of preferred stock having substantially the same terms and
conditions as the Preferred Stock such that the Issuer Trust will receive, on the Stock Purchase Date, shares of preferred stock having substantially the same rights as the Preferred Stock that the Issuer Trust would have received had such merger,
consolidation or other transaction not occurred. 
  

 -17- 
 STOCK PURCHASE CONTRACT AGREEMENT 

 Section 4.2 Rights and Duties of Successor Corporation. 
 In case of any such merger, consolidation, share exchange, sale, assignment, transfer, lease or conveyance and upon any such assumption by a successor
corporation in accordance with Section 4.1, such successor entity shall succeed to and be substituted for the Company with the same effect as if it had been named herein as the Company. 
 Section 4.3 Officers’ Certificate and Opinion of Counsel Given to Property Trustee. 
 The Property Trustee shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such merger, consolidation,
share exchange, sale, assignment, transfer, lease or conveyance, and any such assumption, complies with the provisions of this Article IV and that all conditions precedent to the consummation of any such merger, consolidation, share exchange, sale,
assignment, transfer, lease or conveyance have been met. 
 ARTICLE V 
 COVENANTS 
 Section 5.1 Performance under Stock Purchase Contracts. 
 The Company covenants and agrees for the benefit of the Issuer Trust that it will duly and punctually perform its obligations under the Stock Purchase
Contracts in accordance with the terms of the Stock Purchase Contracts and this Agreement. 
 Section 5.2 Company to Reserve Preferred Stock.

 The Company shall at all times prior to the Stock Purchase Date reserve and keep available, free from preemptive rights, out of its
authorized but unissued Preferred Stock the full number of shares of Preferred Stock issuable against tender of payment for such shares of Preferred Stock in respect of all Stock Purchase Contracts. 
 Section 5.3 Covenants as to Preferred Stock. 
 The
Company covenants that all shares of Preferred Stock that may be issued against tender of payment for such shares of Preferred Stock in respect of any Stock Purchase Contract will, upon issuance, be duly authorized, validly issued, fully paid and
nonassessable. 
 Section 5.4 Statements of Officers of the Company as to Default. 
 The Company will deliver to the Property Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an
Officers’ Certificate, stating whether or not to the knowledge of the signers thereof the Company is in default in the performance and observance of any of the terms, provisions and conditions hereof, and if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which they may have knowledge. 
 * * * * 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. 
  

 -18- 
 STOCK PURCHASE CONTRACT AGREEMENT 

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

			
	MELLON FINANCIAL CORPORATION
		
	By:	 	/s/ Michael A. Bryson
		 	Name: Michael A. Bryson
		 	Title: Chief Financial Officer

  

					
	MELLON CAPITAL IV
		
	By:	 	MANUFACTURERS AND TRADERS TRUST COMPANY, not in its individual capacity but solely as Property
Trustee
			
		 	By:	 	/s/ Robert D. Brown
		 		 	Name: Robert D. Brown
		 		 	Title: Vice President

  

 STOCK PURCHASE CONTRACT AGREEMENT

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