Document:

Exhibit

EXHIBIT 10.23

FORM OF

INDEMNIFICATION AGREEMENT

AGREEMENT, effective as of March 30, 2016, between Armstrong Flooring, Inc., a Delaware corporation (the “Company”), and [________] (the “Indemnitee”).

WHEREAS, it is essential to the Company to retain and attract as directors and officers the most capable persons available;

WHEREAS, Indemnitee is a director or officer of the Company;

WHEREAS, both the Company and Indemnitee recognize the risk of litigation and other claims being asserted against directors and officers of public companies in the current environment;

WHEREAS, the Amended and Restated Certificate of Incorporation of the Company (as amended from time to time, the “Certificate”) and the Amended and Restated By-laws of the Company (as amended from time to time, the “By-laws”) require the Company to indemnify and advance expenses to its directors and officers to the fullest extent permitted by law and Indemnitee has agreed to serve as a director or officer of the Company in part in reliance on the Certificate and the By-laws; and

WHEREAS, in recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s continued service to the Company in an effective manner, and Indemnitee’s reliance on the Certificate and the By-laws, and in part to provide Indemnitee with specific contractual assurance that the protection promised by the Certificate and the By-laws will be available to Indemnitee, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent (whether partial or complete) permitted by law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies.

NOW, THEREFORE, in consideration of the premises and of Indemnitee continuing to serve the Company directly or, at its request, another enterprise, and intending to be legally bound hereby, the parties hereto agree as follows:

1.    Certain Definitions.  In addition to terms defined elsewhere herein, the following terms have the following meanings when used in this agreement:

(a)    Change in Control:  shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 20% or more of the total voting power represented by the Company’s then outstanding Voting Securities, or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one transaction or a series of transactions) all or substantially all of the Company’s assets.

(b)    Claim:  any threatened, pending or completed action, suit or proceeding, or any inquiry or investigation, 

whether instituted by the Company or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit or proceeding, whether civil, criminal, administrative, investigative or other.

(c)    Expenses:  include attorneys’ fees and all other costs, expenses and obligations paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness in or participate in, any Claim relating to any Indemnifiable Event.

(d)    Indemnifiable Event:  any event or occurrence related to the fact that Indemnitee is or was a director, officer, employee, agent or fiduciary of the Company, or is or was serving at the request of the Company as a director, officer, employee, trustee, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise, or by reason of anything done or not done by Indemnitee in any such capacity.

(e)    Independent Legal Counsel:  an attorney or firm of attorneys, selected in accordance with the provisions of Section 3, who shall not have otherwise performed services for the Company or Indemnitee within the last five years (other than with respect to matters concerning the rights of Indemnitee under this Agreement, or of other indemnitees under similar indemnity agreements).

(g)    Reviewing Party:  any appropriate person or body consisting of a member or members of the Company’s Board of Directors or any other person or body appointed by the Board who is not a party to the particular Claim for which Indemnitee is seeking indemnification, or Independent Legal Counsel.

(h)    Voting Securities:  any securities of the Company which vote generally in the election of directors.

2.    Basic Indemnification Arrangement.  
    
(a)     In the event Indemnitee was, is or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, a Claim by reason of (or arising in part out of) an Indemnifiable Event, the Company shall indemnify Indemnitee to the fullest extent permitted by law as soon as practicable but in any event no later than thirty days after written demand is presented to the Company, against any and all Expenses, judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, penalties or amounts paid in settlement) of such Claim.  If so requested by Indemnitee, the Company shall advance (within two business days of such request) any and all Expenses to Indemnitee (an “Expense Advance”).

(b)    Notwithstanding the foregoing, (i) the obligations of the Company under Section 2(a) shall be subject to the condition that the Reviewing Party shall not have determined (in a written opinion, in any case in which the Independent Legal Counsel referred to in Section 3 hereof is involved) that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) the obligation of the Company to make an Expense Advance pursuant to Section 2(a) shall be subject to the condition that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a determination that Indemnitee should be indemnified under applicable law, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed).  If there has not been a Change in Control, the Reviewing Party shall be selected by the Board of Directors, and if there has been such a Change in Control (other than a Change in Control which has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control), the Reviewing Party shall be the Independent Legal Counsel referred to in Section 3 hereof.  If there has been no determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable law, Indemnitee shall have the right to commence litigation in any court in the State of Delaware having subject matter jurisdiction thereof and in which venue is proper seeking an initial determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof, including the legal or factual bases therefor, and the Company hereby consents to service of process and to appear in any such proceeding.  Any determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and Indemnitee.

3.    Change in Control.  The Company agrees that if there is a Change in Control of the Company (other than a Change in Control which has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control), then with respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity 

payments and Expense Advances under this Agreement or any other agreement, the Certificate or the By-laws relating to Claims for Indemnifiable Events, the Company shall seek legal advice only from Independent Legal Counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld).  Such counsel, among other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent Indemnitee would be permitted to be indemnified under applicable law.  The Company agrees to pay the reasonable fees of the Independent Legal Counsel referred to above and to indemnify fully such counsel against any and all expenses (including attorneys’ fees), claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto.

4.    Indemnification for Additional Expenses.  The Company shall indemnify Indemnitee against any and all expenses (including attorneys’ fees) and, if requested by Indemnitee, shall (within two business days of such request) advance such expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for (i) indemnification or advance payment of Expenses by the Company under this Agreement, the Certificate or the By-laws relating to Claims for Indemnifiable Events and/or (ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Company, to the fullest extent permitted by law, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense payment or insurance recovery, as the case may be.

5.    Partial Indemnity, Etc.  If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, fines, penalties and amounts paid in settlement of a Claim but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.  Moreover, notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified against all Expenses incurred in connection therewith.

6.    Burden of Proof.  In connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder the burden of proof shall be on the Company to establish that Indemnitee is not so entitled.

7.    No Presumptions.  For purposes of this Agreement, the termination of any claim, action, suit or proceeding, by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law.  In addition, neither the failure of the Reviewing Party to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination by the Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under applicable law shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular standard of conduct or did not have any particular belief.

8.    Nonexclusivity, Etc.  The rights of Indemnitee hereunder shall be in addition to any other rights Indemnitee may have under the Certificate, the By-laws, the Delaware General Corporation Law or otherwise.  To the extent that a change in the Delaware General Corporation Law (whether by statute or judicial decision) permits greater indemnification by agreement than would be afforded currently under the Certificate, the By-laws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change.

9.    Liability Insurance.  To the extent the Company maintains an insurance policy or policies providing directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer.

10.    Period of Limitations.  No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against Indemnitee, Indemnitee's spouse, heirs, executors or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall govern.

11.    Amendments, Etc.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

12.    Subrogation.  In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights.

13.    No Duplication of Payments.  The Company shall not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, By-law or otherwise) of the amounts otherwise indemnifiable hereunder.

14.    Binding Effect, Etc.  This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns, including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, executors and personal and legal representatives.  This Agreement shall continue in effect regardless of whether Indemnitee continues to serve as an officer or director of the Company or of any other enterprise at the Company’s request.

15.    Severability.  The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable in any respect, and the validity and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired and shall remain enforceable to the fullest extent permitted by law.

16.    Governing Law.  This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws.

[signature page follows]
        

IN WITNESS WHEREOF, the parties hereto have executed this Agreement this [______] day of [______], 2016.

                
	
		
	ARMSTRONG FLOORING, INC.

	 
	 

	By:
	 

	Name: 
	 

	Title:
	 

	
		
	 
	 

	 
	[Indemnitee]EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
 COLUMBIA
PROPERTY TRUST OPERATING PARTNERSHIP, L.P., as 
 Issuer 

COLUMBIA PROPERTY TRUST, INC., as Guarantor 

U.S. BANK NATIONAL ASSOCIATION, as Trustee 

SECOND SUPPLEMENTAL INDENTURE 

Dated as of 

August 12, 2016 

to 
 INDENTURE 

Dated as of 

March 12, 2015 
  

 
 3.650% Senior
Notes due 2026 
  
  

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	PAGE	 
			
	ARTICLE 1	  	DEFINITIONS	  	 	1	  
				
		 	Section 1.01.	  	 Relationship with Indenture
	  	 	1	  
		 	Section 1.02.	  	 Definitions
	  	 	2	  
		 	Section 1.03.	  	 Other Definitions
	  	 	7	  
			
	ARTICLE 2	  	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES	  	 	8	  
				
		 	Section 2.01.	  	 Issue of Notes
	  	 	8	  
		 	Section 2.02.	  	 Form, Dating and Denominations; Legends
	  	 	8	  
		 	Section 2.03.	  	 Execution and Authentication; Additional Notes
	  	 	8	  
		 	Section 2.04.	  	 Registration, Transfer and Exchange
	  	 	9	  
			
	ARTICLE 3	  	OPTIONAL REDEMPTION	  	 	12	  
				
		 	Section 3.01.	  	 Optional Redemption of Notes
	  	 	12	  
		 	Section 3.02.	  	 Notice of Redemption; Selection of Notes
	  	 	13	  
		 	Section 3.03.	  	 Payment of Notes Called for Redemption by the Issuer
	  	 	14	  
		 	Section 3.04.	  	 Sinking Fund
	  	 	15	  
			
	ARTICLE 4	  	PARTICULAR COVENANTS	  	 	15	  
				
		 	Section 4.01.	  	 Aggregate Debt Test
	  	 	15	  
		 	Section 4.02.	  	 Debt Service Test
	  	 	15	  
		 	Section 4.03.	  	 Secured Debt Test
	  	 	16	  
		 	Section 4.04.	  	 Maintenance of Total Unencumbered Assets
	  	 	16	  
			
	ARTICLE 5	  	EVENTS OF DEFAULT; REMEDIES	  	 	17	  
				
		 	Section 5.01.	  	 Events of Default
	  	 	17	  
			
	ARTICLE 6	  	SUPPLEMENTAL INDENTURES	  	 	17	  
				
		 	Section 6.01.	  	 Supplemental Indentures with and without Consent of Noteholders
	  	 	17	  
			
	ARTICLE 7	  	CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE	  	 	17	  
				
		 	Section 7.01.	  	 Issuer May Consolidate on Certain Terms
	  	 	17	  
		 	Section 7.02.	  	 General Partner May Consolidate on Certain Terms
	  	 	18	  
			
	ARTICLE 8	  	FUTURE GUARANTEES	  	 	19	  
				
		 	Section 8.01.	  	 Guarantees
	  	 	19	  
		 	Section 8.02.	  	 Release of Guarantee
	  	 	19	  

  
 i 

									
	 	 	 	  	 	  	PAGE	 
				
		 	Section 8.03.	  	 Notices
	  	 	20	  
			
	ARTICLE 9	  	MISCELLANEOUS PROVISIONS	  	 	20	  
				
		 	Section 9.01.	  	 Continued Effect
	  	 	20	  
		 	Section 9.02.	  	 Payments
	  	 	20	  
		 	Section 9.03.	  	 Governing Law
	  	 	20	  
		 	Section 9.04.	  	 No Security Interest Created
	  	 	20	  
		 	Section 9.05.	  	 Table of Contents, Headings, etc
	  	 	20	  
		 	Section 9.06.	  	 Execution in Counterparts
	  	 	20	  
		 	Section 9.07.	  	 Severability
	  	 	20	  

											
			
	EXHIBIT A	  	Form of Note	  			
	EXHIBIT B	  	Form of Supplemental Indenture	  			

  
 ii 

 SECOND SUPPLEMENTAL INDENTURE 

SECOND SUPPLEMENTAL INDENTURE dated as of August 12, 2016 (this “Supplemental Indenture”)
among Columbia Property Trust, Inc., a Maryland corporation (hereinafter called the “General Partner”), Columbia Property Trust Operating Partnership, L.P., a Delaware limited partnership and subsidiary of the General
Partner (hereinafter called the “Issuer”), and U.S. Bank National Association, as trustee (hereinafter called the “Trustee”). 

RECITALS 
 WHEREAS, the
General Partner, the Issuer and the Trustee are parties to an Indenture dated as of March 12, 2015 (the “Indenture”), providing for the issuance from time to time of one or more series of the Issuer’s debt
securities (the “Securities”), the terms of which are to be determined as set forth in Section 301 of the Indenture; and 

WHEREAS, pursuant to Section 901(6) of the Indenture, without the consent of any Holders, the Issuer, when authorized by or pursuant to a
Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental to the Indenture to establish the form or terms of securities of any series as permitted by Sections 201 and 301 of the
Indenture; and 
 WHEREAS, pursuant to this Supplemental Indenture, the Issuer desires to create a new series of Securities under the
Indenture, to be titled the 3.650% Senior Notes due 2026 in an initial aggregate principal amount of $350,000,000 (the “Notes”) and to establish the forms and the terms, conditions, rights and preferences thereof; 

WHEREAS, all action on the part of the Issuer necessary to authorize the issuance of the Notes under the Indenture and this Supplemental
Indenture has been duly taken; and 
 WHEREAS, all acts and requirements necessary to make the Notes, when executed by the Issuer and
authenticated and delivered by the Trustee as provided in the Indenture and this Supplemental Indenture, the valid and binding obligations of the Issuer and to make this Supplemental Indenture a valid and binding agreement in accordance with the
Indenture have been done and performed; 
 NOW, THEREFORE, in consideration of the premises, agreements and obligations set forth herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree, for the equal and proportionate benefit of all Holders of the Notes, as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.01. Relationship with Indenture. With respect to the Notes, this Supplemental Indenture constitutes an integral part of
the Indenture. In the event of any inconsistency between the Indenture and this Supplemental Indenture, this Supplemental Indenture shall govern with respect to the Notes. References to “Security” or “Securities” shall be deemed
to refer to the Notes, unless the context otherwise requires. In addition, the words “herein,” “hereof,” “hereunder,” and words of similar import shall refer to this Supplemental Indenture. 

  
 1 

 Section 1.02. Definitions. All terms contained in this Supplemental Indenture shall,
except as specifically provided herein or except as the context may otherwise require, have the meanings defined in the Indenture. Solely with respect to the Notes and this Supplemental Indenture, the following definitions shall be added to
Section 101 of the Indenture and replace any existing definitions (as applicable) in the Indenture, each in appropriate alphabetical order, unless the context requires otherwise. 

“Acquired Debt” means Debt of a Person: 

(a) existing at the time such Person is merged or consolidated with or into the General Partner or any of its Subsidiaries or becomes a
Subsidiary of the General Partner; or 
 (b) assumed by the General Partner or any of its Subsidiaries in connection with the acquisition of
assets from such Person. 
 Acquired Debt shall be deemed to be incurred on the date the acquired Person is merged or consolidated with or into the General
Partner or any of its Subsidiaries or becomes a Subsidiary of the General Partner or the date of the related acquisition, as the case may be. 

“Agent Member” means a member of, or a participant in, the Depositary. 

“Annual Debt Service Charge” means, for any period, the interest expense of the General Partner and its Subsidiaries for such
period, determined on a consolidated basis in accordance with GAAP, including, without duplication: 
 (a) all amortization of debt discount
and premium and deferred financing costs; 
 (b) all accrued interest; 

(c) all capitalized interest; and 

(d) the interest component of capitalized lease obligations, excluding 

the interest expense component of capitalized lease obligations in respect of Approved Bond Transactions. 

“Approved Bond Transaction” means those real property projects and any other real property developments (a) in which the
General Partner or any of its Subsidiaries acquires an interest as a lessee in real property subject to a bond transaction encumbering the property wherein the General Partner or any of its Subsidiaries is also the owner of the applicable bonds;
(b) pursuant to which rental payments of the General Partner or any of its Subsidiaries as lessee ultimately run to the General Partner or any of its Subsidiaries in the form of payments on the applicable bonds and are in an amount that are
equivalent (or nearly so) with the required payments under the bonds; and (c) which lease (i) has a remaining term of not less than twenty (20) years or provides a purchase option in favor of the General Partner or any of its
Subsidiaries 

  
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for the underlying land that is exercisable by the General Partner or any of its Subsidiaries at the option of the General Partner or any of its Subsidiaries, as appropriate, prior to or
simultaneously with the expiration of the lease and for a de minimus or nominal purchase price, (ii) under which any required rental payment or other payment due under such lease from the General Partner or any of its Subsidiaries to the lessor
have been assigned to secure the bonds held by the General Partner or any of its Subsidiaries and no payment default has occurred and no other default has occurred which would permit the termination of the lease, (iii) where no party to such
lease is the subject of bankruptcy, insolvency, receivership or other similar events, (iv) contains customary provisions either (A) protective of any lender to the lessee or (B) whereby the lessor expressly agrees upon request to
subordinate the lessor’s fee interest to the rights and remedies of such a lender, (v) where the General Partner’s or any of its Subsidiaries’ interest in the real property or the lease is not subject to any Lien (other than a
permitted Lien) and the instruments securing the bonds held by the General Partner or any of its Subsidiaries, and (vi) such lease and bond documents permit reasonable transferability thereof (including the right to sublease to occupancy
tenants). 
 “Cash Equivalents” means: (a) securities issued, guaranteed or insured by the United States of America or
any of its agencies with maturities of not more than one year from the date acquired; (b) certificates of deposit with maturities of not more than one year from the date acquired which are issued by a United States federal or state chartered
commercial bank of recognized standing, or a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development, or a political subdivision of any such country, acting through
a branch or agency, which bank at the time of the acquisition thereof has capital and unimpaired surplus in excess of $500,000,000 and which bank or its holding company at the time of the acquisition thereof has a short-term commercial paper rating
of at least A-2 or the equivalent by S&P or at least P-2 or the equivalent by Moody’s; (c) reverse repurchase agreements with terms of not more than seven days from the date acquired, for securities of the type described in clause
(a) above and entered into only with commercial banks having the qualifications described in clause (b) above; (d) commercial paper issued by any Person incorporated under the laws of the United States of America or any State thereof
and rated at the time of the acquisition thereof at least A-2 or the equivalent thereof by S&P or at least P-2 or the equivalent thereof by Moody’s, in each case with maturities of not more than one year from the date acquired; and
(e) investments in money market funds registered under the Investment Company Act of 1940, which have at the time of the acquisition thereof net assets of at least $500,000,000 and at least 85% of whose assets consist of securities and other
obligations of the type described in clauses (a) through (d) above. 
 “Certificated Note” means a Note in registered
individual form without interest coupons. 
 “Close of Business” means 5:00 p.m., New York City time. 

“Consolidated Income Available for Debt Service” for any period means Consolidated Net Income of the General Partner and its
Subsidiaries for such period, plus amounts which have been deducted and minus amounts which have been added for, without duplication: 
 (a)
interest expense on Debt (excluding the interest expense component of capitalized lease obligations in respect of Approved Bond Transactions); 

  
 3 

 (b) provision for taxes based on income; 

(c) amortization of debt discount, premium ‘and deferred financing costs; 

(d) provisions for gains and losses on sales or other dispositions of properties and other investments, and impairment charges; 

(e) property depreciation and amortization; 

(f) the effect of any non-cash items, including the effect of non-recurring or other unusual items, as determined by us in good faith, and
swap ineffectiveness charges or income or expense attributable to transactions involving derivative instruments that do not qualify for hedge accounting; and 

(g) amortization of deferred charges, 
 all
determined on a consolidated basis in accordance with GAAP. 
 “Consolidated Net Income” for any period means the amount of
net income (or loss) of the General Partner and its Subsidiaries for such period, excluding, without duplication: 
 (a) extraordinary
items; and 
 (b) the portion of net income (but not losses) of the General Partner and its Subsidiaries allocable to minority interests in
unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by the General Partner or one of its Subsidiaries, 

all determined on a consolidated basis in accordance with GAAP. 

“Custodian” means U.S. Bank National Association, as custodian with respect to the Global Notes, or any successor entity
thereto. 
 “Depositary” means the clearing agency registered under the Exchange Act that is designated to act as the
depositary for the Global Notes. DTC shall be the initial Depositary, until a successor shall have been appointed and become such pursuant to the applicable provisions of the Indenture, and thereafter, “Depositary” shall mean or
include such successor. 
 “Equity Interest” means, with respect to any Person, any share of capital stock of (or other
ownership or profit interests in) such Person, any warrant, option or other right for the purchase or other acquisition from such Person of any share of capital stock of (or other ownership or profit interests in) such Person, any security
convertible into or exchangeable for any share of capital stock of (or other ownership or profit interests in) such Person or warrant, right or option for the purchase or other acquisition from such Person of such shares (or such other interests),
and any other ownership or profit interest in such Person (including, without limitation, partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such share, warrant, option, right or other interest is
authorized or otherwise existing on any date of determination. 

  
 4 

 “Fair Market Value” means, with respect to any asset or property, the fair
market value, as determined in good faith by the Board of Directors. 
 “General Partner” shall have the meaning set forth
in the recitals, and shall include its successors and assigns. 
 “Global Note” means a Note in registered global form
without interest coupons. 
 “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Debt or other obligation under any Debt of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay
(or advance or supply funds for the purchase or payment of) such Debt or other obligation under any Debt of such other Person (whether arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets, goods, securities
or services, to take-or-pay, or to maintain financial statement conditions or otherwise) or (ii) entered into for purposes of assuring in any other manner the obligee of such Debt or other obligation under any Debt of the payment thereof or to
protect such obligee against loss in respect thereof, in whole or in part; provided that the term “Guarantee” does not include endorsements for collection or deposit in the ordinary course of business. The terms
“Guarantee” and “Guaranteeing,” used as verbs, have a corresponding meaning. 
 “Guarantors” means
(i) the General Partner and (ii) each of the Issuer’s or the General Partner’s Subsidiaries, if any, that in the future executes a supplemental indenture in which such Subsidiary agrees to be bound by the terms of the Indenture
and this Supplemental Indenture as set forth in Article 8 of this Supplemental Indenture and Article 15 of the Indenture as a Guarantor; provided that any Subsidiary constituting a Guarantor as described above shall cease to constitute a
Guarantor with respect to the Notes when its respective guarantee is released in accordance with the terms of the Indenture and this Supplemental Indenture. 

“Indenture” shall have the meaning set forth in the recitals to this Supplemental Indenture. 

“Interest Payment Date” means each February 15 and August 15 of each year, commencing February 15, 2017. 

“Investment” means, with respect to any Person, any acquisition or investment (whether or not of a controlling interest) by
such Person, by means of any of the following: (a) the purchase or other acquisition of any Equity Interest in another Person; (b) a loan, advance or extension of credit to, capital contribution to, guaranty of indebtedness of, or purchase
or other acquisition of any indebtedness of, another Person, including any partnership or joint venture interest in such other Person; (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another
Person that constitute the business or a division or operating unit of another Person; (d) the purchase or other acquisition of Cash Equivalents or (e) the acquisition in the ordinary course of business of any interests in real property or
any other investment. Any binding commitment to make an Investment in any other Person, as well as any option of another Person to require an Investment in such Person, shall constitute an Investment. Except as expressly provided otherwise, for
purposes of determining compliance with any 

  
 5 

 
covenant contained in the Indenture, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment.

 “Issue Date” means, with respect to the Notes being issued on the date hereof, the date hereof, and with respect to any
additional Notes, the date of original issuance of such additional Notes. 
 “Maturity Date” means August 15, 2026.

 “Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Note” or “Notes” shall have the meaning set forth in the recitals to this Supplemental Indenture. 

“principal,” when used with respect to any Note, shall be deemed to include a reference to “and premium, if any,”
unless otherwise expressly stated or the context otherwise requires. 
 “Property” means any parcel of real property,
together with all improvements thereon, owned or leased pursuant to a ground lease by the General Partner or any of its Subsidiaries or any Unconsolidated Affiliate of the General Partner or any of its Subsidiaries and which is located in a state of
the United States of America or the District of Columbia. 
 “Regular Record Date” for the interest payable on any Interest
Payment Date means the February 1 or August 1 (whether or not a Business Day) next preceding such Interest Payment Date. 

“S&P” means Standard & Poor’s Rating Services, a division of The McGraw Hill Companies, Inc. and its
successors. 
 “Subsidiary Guarantors” means each Subsidiary of the Issuer or the General Partner, if any, that in the
future executes a supplemental indenture in accordance with Section 8.01 in which such Subsidiary agrees to be bound by the terms of the Indenture as a Guarantor. 

“Total Assets” means, with respect to any Person, the sum of, without duplication: 

(a) Undepreciated Real Estate Assets; and 

(b) all other assets of such Person (excluding (i) accounts receivable, (ii) intangibles (but not excluding intangibles related to
real property acquisitions) and (iii) the principal component of capitalized lease obligations in respect of Approved Bond Transactions), 
 all
determined on a consolidated basis in accordance with GAAP. 
 “Total Unencumbered Assets” means, with respect to any
Person, the sum of, without duplication: 

  
 6 

 (a) those Undepreciated Real Estate Assets which are not subject to a Lien securing Debt; and

 (b) all other assets (excluding (i) accounts receivable, (ii) intangibles (but not excluding intangibles related to real
property acquisitions) and (iii) the principal component of capitalized lease obligations in respect of Approved Bond Transactions) of the General Partner and its Subsidiaries not subject to a Lien securing Debt, 

all determined on a consolidated basis in accordance with GAAP; provided, however, that, in determining Total Unencumbered Assets as a percentage of
outstanding Unsecured Debt for purposes of Section 4.04 all investments in unconsolidated limited partnerships, unconsolidated limited liability companies and other unconsolidated entities shall be excluded from Total Unencumbered Assets. For
the avoidance of doubt, cash held by a “qualified intermediary” in connection with proposed like-kind exchanges pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended, which may be classified as
“restricted” for purposes of United States generally accepted accounting purposes, will nonetheless be considered Total Unencumbered Assets, so long as the General Partner or a Subsidiary thereof has the right to (i) direct the
qualified intermediary to return such cash to the General Partner or a Subsidiary thereof if and when the General Partner or a Subsidiary thereof fails to identify or acquire the proposed like-kind property or at the end of the 180-day replacement
period or (ii) direct the qualified intermediary to use such cash to acquire like-kind property. 
 “Unconsolidated
Affiliate” means, in respect of any Person, any other Person (a) in whom such Person holds an Investment, which Investment is accounted for in the financial statements of such Person on an equity basis of accounting and whose financial
results would not be consolidated under GAAP with the financial results of such first Person on the consolidated financial statements of such first Person, or (b) which is not a Subsidiary of such first Person. 

“Undepreciated Real Estate Assets” means, with respect to any Person, as of any date, the cost (original cost plus capital
improvements) of real estate assets of such Person and its Subsidiaries on such date, before depreciation and amortization, all determined on a consolidated basis in accordance with GAAP. 

“Unsecured Debt” means Debt of the General Partner or any of its Subsidiaries which is not secured by a Lien on any property
or assets of the General Partner or any of its Subsidiaries. 
 Certain terms used in Article 3 are defined in Section 3.01. 

Section 1.03. Other Definitions. 
  

			
	 Term
	  	 Defined in Section

	 “Comparable Treasury Issue”
	  	3.01
	 “Comparable Treasury Price”
	  	3.01
	 “Event of Default”
	  	5.01
	 “Independent Investment Banker”
	  	3.01
	 “Primary Treasury Dealer”
	  	3.01
	 “Redemption Date”
	  	3.02
	 “Redemption Price”
	  	3.01
	 “Reference Treasury Dealer Quotations”
	  	3.01
	 “Reference Treasury Dealer”
	  	3.01
	 “Treasury Rate”
	  	3.01

  
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 ARTICLE 2 

ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND
EXCHANGE OF NOTES 
 Section 2.01. Issue of Notes. A new series of Securities is to
be issued under the Indenture as supplemented by this Supplemental Indenture. The series shall be titled the “3.650% Senior Notes due 2026.” 

Section 2.02. Form, Dating and Denominations; Legends. The Notes and the Trustee’s certificate of authentication will be
substantially in the form attached as Exhibit A. The terms and provisions contained in the form of the Notes annexed as Exhibit A constitute, and are hereby expressly made, a part of the Indenture and this Supplemental Indenture. The Notes
may have notations, legends or endorsements required by law, rules of or agreements with national securities exchanges to which the Issuer is subject, or usage. 

Section 2.03. Execution and Authentication; Additional Notes. 

(a) The aggregate principal amount of Notes which may be authenticated and delivered under the Indenture is unlimited; provided
that upon initial issuance on the date hereof the aggregate principal amount of Notes outstanding shall not exceed $350,000,000, except for Notes issued upon exchange or registration of transfer of other Notes as provided herein and except as
provided in Section 2.04 and 3.03. The Issuer may, without the consent of or notice to the Holders of Notes, issue additional Notes from time to time in the future with the same terms, provisions and the same CUSIP number as the Notes issued on
the date hereof, except for any difference in issue price, Interest accrued prior to the issue date and first Interest Payment Date of those additional Notes; provided that such additional Notes shall be treated as part of the same issue as and
fungible with the Notes issued on the date hereof for United States federal income tax purposes and shall carry the same right to receive accrued and unpaid Interest as the other Notes then outstanding; provided, however, that, notwithstanding the
foregoing, (i) if the additional Notes are not fungible with the Notes for United States federal income tax purposes, the additional Notes will have a separate CUSIP number and (ii) if the Issuer has effected legal defeasance or covenant
defeasance with respect to the Notes pursuant to Section 402 of the Indenture or has effected satisfaction and discharge with respect to the Notes pursuant to Section 401 of the Indenture, no additional Notes may be issued. The Notes
issued on the date hereof and any such additional Notes shall constitute a single series of debt securities, and in circumstances in which the Indenture provides for the Holders of Notes to vote or take any action, the Holders of the Notes issued on
the date hereof and any such additional Notes will vote or take that action as a single class. 

  
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 (b) At any time and from time to time after the execution and delivery of this
Supplemental Indenture, the Issuer may deliver Notes executed by the Issuer to the Trustee for authentication. The Trustee will authenticate and deliver 

(i) Notes for original issue in the aggregate principal amount not to exceed $350,000,000, and 

(ii) additional Notes from time to time for original issue in aggregate principal amounts specified by the Issuer. 

Section 2.04. Registration, Transfer and Exchange.  

(a) The Notes will be issued in registered form only, without coupons, and the Issuer shall cause the Trustee to maintain a
Security Register of the Notes, for registering the record ownership of the Notes by the Holders and transfers and exchanges of the Notes. 

(b) (1) Each Global Note will be registered in the name of the Depositary or its nominee and, so long as DTC is serving as the
Depositary thereof, will bear the DTC Legend. 
 (2) Each Global Note will be delivered to the Trustee as custodian for the
Depositary. Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective nominees, except (1) as set forth in
Section 2.04(b)(4) and (2) transfers of portions thereof in the form of Certificated Notes may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) by written notice given to the Trustee by or on behalf
of the Depositary in accordance with customary procedures of the Depositary and in compliance with this Section. 
 (3)
Agent Members will have no rights under the Indenture with respect to any Global Note held on their behalf by the Depositary, and the Depositary may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute
owner and Holder of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, the Depositary or its nominee may grant proxies and otherwise authorize any Person (including any Agent Member and any Person that holds a beneficial
interest in a Global Note through an Agent Member) to take any action which a Holder is entitled to take under the Indenture or the Notes, and nothing herein will impair, as between the Depositary and its Agent Members, the operation of customary
practices governing the exercise of the rights of a holder of any security. 
 (4) If (x) the Depositary notifies the
Issuer that it is unwilling or unable to continue as Depositary for a Global Note and a successor depositary is not appointed by the Issuer within 90 days of the notice or 

  
 9 

 
(y) an Event of Default has occurred and is continuing and the Trustee has received a request from the Depositary, the Trustee will promptly exchange each beneficial interest in the Global
Note for one or more Certificated Notes in authorized denominations having an equal aggregate principal amount registered in the name of the owner of such beneficial interest, as identified to the Trustee by the Depositary, and thereupon the Global
Note will be deemed canceled. 
 (c) Each Certificated Note will be registered in the name of the holder thereof or its
nominee. 
 (d) A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a
beneficial interest therein) for another Note or Notes of any authorized denomination by presenting to the Trustee a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any
certification, opinion or other document as the Trustee may reasonably request. The Trustee will promptly register any transfer or exchange that meets the requirements of this Section by noting the same in the register maintained by the Trustee
for the purpose; provided that 
 (x) no transfer or exchange will be effective until it is registered in such register and

 (y) the Trustee will not be required (i) to issue, register the transfer of or exchange any Note for a period of 15
days before any selection of Notes for redemption, (ii) to register the transfer of or exchange any Note so selected for redemption or purchase in whole or in part, except, in the case of a partial redemption or purchase, that portion of any
Note not being redeemed or purchased, or (iii) if a redemption is to occur after a Regular Record Date but on or before the corresponding Interest Payment Date, to register the transfer of or exchange any Note on or after the Regular Record
Date and before the date of redemption or purchase. Prior to the registration of any transfer, the Issuer, the Trustee and their agents will treat the Person in whose name the Note is registered as the owner and Holder thereof for all purposes
(whether or not the Note is overdue), and will not be affected by notice to the contrary. 
 From time to time the Issuer
will execute and the Trustee will authenticate additional Notes as necessary in order to permit the registration of a transfer or exchange in accordance with this Section. 

No service charge will be imposed in connection with any transfer or exchange of any Note, but the Issuer may require payment
of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer tax or other similar governmental charge payable upon exchange pursuant to subsection (b)(4)). 

  
 10 

 (e) (1) Global Note to Global Note. If a beneficial interest in a Global
Note is transferred or exchanged for a beneficial interest in another Global Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the principal amount of such transfer
or exchange and (y) record a like increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an interest in another Global Note, or
exchanged for an interest in another Global Note, will, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer and exchange
restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 

(2) Global Note to Certificated Note. If a beneficial interest in a Global Note is transferred or exchanged for a
Certificated Note, the Trustee will (x) record a decrease in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (y) deliver one or more new Certificated Notes in authorized denominations
having an equal aggregate principal amount to the transferee (in the case of a transfer) or the owner of such beneficial interest (in the case of an exchange), registered in the name of such transferee or owner, as applicable. 

(3) Certificated Note to Global Note. If a Certificated Note is transferred or exchanged for a beneficial interest in a
Global Note, the Trustee will (x) cancel such Certificated Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the event that such transfer or
exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more new Certificated Notes in authorized denominations having an aggregate principal amount equal to the untransferred
or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 
 (4)
Certificated Note to Certificated Note. If a Certificated Note is transferred or exchanged for another Certificated Note, the Trustee will (x) cancel the Certificated Note being transferred or exchanged, (y) deliver one or more new
Certificated Notes in authorized denominations having an aggregate principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Certificated Note (in the case
of an exchange), registered in the name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or
more Certificated Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 

  
 11 

 ARTICLE 3 

OPTIONAL REDEMPTION 

Section 3.01. Optional Redemption of Notes. (a) The Issuer shall have the right, at its option, to redeem the Notes for cash
at any time or from time to time prior to May 15, 2026, in whole or in part, at a redemption price (with respect to the Notes to be redeemed on any Redemption Date pursuant to this Section 3.01(a), the “Redemption Price”) equal
to the greater of: (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and Interest on the Notes to be redeemed (exclusive of Interest accrued
to the applicable Redemption Date) discounted to such Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 35 basis points, plus, in each case, accrued and unpaid Interest on
the principal amount of the Notes being redeemed to, but excluding, such Redemption Date. In addition, the Issuer may, at its option, redeem the Notes, at any time or from time to time on or after May 15, 2026, in whole or in part, at a
redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid Interest on the principal amount of the Notes being redeemed to, but not including, the applicable Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, calculated by the Issuer using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury
Rate shall be calculated on the third Business Day preceding the applicable Redemption Date and shall not be less than zero. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as having
a maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of the Notes. 
 “Independent Investment Banker” means one of J.P. Morgan Securities LLC, Morgan
Stanley & Co. LLC or Wells Fargo Securities, LLC and each of their respective successors (whichever shall be appointed by the Issuer in respect of the applicable Redemption Date) or, if any such firm or its respective successor, if any, is
unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Issuer. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) if four Reference Treasury Dealer Quotations
are obtained, the average (as calculated by the Issuer) of the remaining Reference Treasury Dealer Quotations for such Redemption Date after excluding the highest and lowest such Reference Treasury Dealer Quotations from the four selected,
(ii) if fewer than four but more than one such Reference Treasury Dealer Quotations are obtained, the average (as calculated by the Issuer) of all such quotations, or (iii) if only one such Reference Treasury Dealer Quotation is obtained,
such Reference Treasury Dealer Quotation. 

  
 12 

 “Reference Treasury Dealer” means each of (i) J.P. Morgan Securities LLC
(or its successor) or an affiliate thereof which is a Primary Treasury Dealer; (ii) Morgan Stanley & Co. LLC (or its successor) or an affiliate thereof which is a Primary Treasury Dealer; (iii) Wells Fargo Securities, LLC (or its
successor) or an affiliate thereof which is a Primary Treasury Dealer; provided, however, that if any such firm (or, if applicable, any of their affiliates) or any of their successors, as the case may be, shall cease to be a primary U.S. Government
securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer will substitute therefor another Primary Treasury Dealer; and (iv) one other Primary Treasury Dealer selected by the Issuer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date,
the average (as calculated by the Issuer) of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Issuer by such Reference Treasury Dealer at 5:00 p.m.,
New York City time, on the third Business Day preceding such Redemption Date. 
 (b) Notwithstanding the foregoing,
the Issuer shall not redeem the Notes pursuant to Section 3.01(a) on any date if the principal amount of the Notes has been accelerated, and such acceleration has not been rescinded or cured on or prior to such date. 

Section 3.02. Notice of Redemption; Selection of Notes. In case the Issuer shall desire to exercise the right to redeem all or, as
the case may be, any part of the Notes pursuant to Section 3.01, it shall fix a date for redemption (the “Redemption Date”) and it or, at its written request received by the Trustee not fewer than five Business Days prior (or
such shorter period of time as may be acceptable to the Trustee) to the date the notice of redemption is to be mailed, the Trustee in the name of and at the expense of the Issuer, shall mail or cause to be mailed a notice of such redemption not
fewer than 30 days nor more than 60 days prior to the Redemption Date to each Holder of Notes so to be redeemed in whole or in part at its last address as the same appears on the Security Register; provided that the text of the notice shall be
prepared by the Issuer. Each such notice of redemption shall specify: (i) the aggregate principal amount of Notes to be redeemed, (ii) the CUSIP number or numbers of the Notes being redeemed, (iii) the Redemption Date (which shall be
a Business Day), (iv) the Redemption Price at which Notes’ are to be redeemed, (v) the place or places of payment and that payment will be made upon presentation and surrender of such Notes and (vi) that Interest accrued and
unpaid to, but excluding, the Redemption Date will be paid as specified in said notice, and that on and after said date Interest on Notes or portions of Notes to be redeemed will cease to accrue. If fewer than all the Notes are to be redeemed, the
notice of redemption shall identify the Notes to be redeemed (including CUSIP numbers, if any). In case any Note is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and
shall state that, on and after the Redemption Date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion thereof will be issued. Such mailing shall be by first class mail. The notice, if mailed in the
manner herein provided, shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice to the Holder of any Note designated for
redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Note. 

  
 13 

 Whenever any Notes are to be redeemed, the Issuer will give the Trustee written notice of the
Redemption Date, together with an Officers’ Certificate as to the aggregate principal amount of Notes to be redeemed not fewer than 30 days (or such shorter period of time as may be acceptable to the Trustee) prior to the Redemption Date. 

On or prior to the Redemption Date specified in the notice of redemption given as provided in this Section 3.02, the Issuer will deposit
with the Paying Agent (other than the Issuer or the General Partner acting as its own Paying Agent) an amount of money in immediately available funds sufficient to redeem on the Redemption Date all the Notes (or portions thereof) so called for
redemption at the appropriate Redemption Price, together with accrued and unpaid Interest, if any, on the Notes or portions thereof to be redeemed; provided that if such payment is made on the Redemption Date, it must be received by the Paying
Agent, by 11:00 a.m., New York City time, on such date. The Issuer shall be entitled to retain any interest, yield or gain on amounts deposited with the Paying Agent pursuant to this Section 3.02 in excess of amounts required hereunder to pay
the Redemption Price, together with accrued and unpaid Interest, if any, on the Notes or portions thereof to be redeemed. 
 If fewer than
all of the outstanding Notes are to be redeemed, the Trustee shall select the Notes or portions thereof of the Global Note or the Certificated Notes to be redeemed (in minimum denominations of $2,000 principal amount and integral multiples of $1,000
in excess thereof) on a pro rata basis or by another method that the Trustee deems fair and appropriate or that is required by the Depositary. 

Section 3.03. Payment of Notes Called for Redemption by the Issuer. If notice of redemption has been given as provided in
Section 3.02, the Notes or portion of Notes with respect to which such notice has been given shall become due and payable on the Redemption Date and at the place or places stated in such notice at the Redemption Price, together with accrued and
unpaid Interest, if any, thereon, and if the Paying Agent holds funds sufficient to pay the Redemption Price of such Notes, together with accrued and unpaid Interest, if any, thereon, then, on and after such Redemption Date (a) such Notes will
cease to be outstanding and (b) Interest on the Notes or portion of Notes so called for redemption shall cease to accrue and, except as provided in Article 4 of the Indenture, such Notes shall cease to be entitled to any benefit or security
under the Indenture, and the Holders thereof shall have no right in respect of such Notes except the right to receive the Redemption Price thereof, together with accrued and unpaid Interest, if any, thereon. On presentation and surrender of such
Notes at a place of payment in said notice specified, the said Notes or the specified portions thereof shall be paid and redeemed by the Issuer at the Redemption Price, together with Interest accrued thereon, if any, to, but excluding, the
Redemption Date. 
 Upon presentation of any Note redeemed in part only, the Issuer shall execute and the Trustee shall authenticate and
make available for delivery to the Holder thereof, at the expense of the Issuer, a new Note or Notes, of authorized denominations, in principal amount equal to the unredeemed portion of the Notes so presented. 

Prior to the applicable Redemption Date, the Issuer shall provide to the Trustee an Officers’ Certificate that shall set forth the
applicable Redemption Price and the calculation thereof in reasonable detail. The Trustee shall be under no duty to inquire into, may conclusively presume the correctness of, and shall be fully protected in acting upon the Issuer’s calculation
of the Redemption Price. 

  
 14 

 Section 3.04. Sinking Fund. There shall be no sinking fund provided for the Notes.

 ARTICLE 4 

PARTICULAR COVENANTS 

Section 4.01. Aggregate Debt Test. The General Partner will not, and will not permit any of its Subsidiaries to, incur any Debt
(including without limitation Acquired Debt) if, immediately after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount of all outstanding Debt of the
General Partner and its Subsidiaries (determined on a consolidated basis in accordance with GAAP) is greater than 60% of the sum of the following (without duplication): 

(a) the Total Assets of the General Partner and its Subsidiaries as of the last day of the then most recently ended fiscal
quarter; and 
 (b) the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the
aggregate amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the General Partner or any of its Subsidiaries since the end
of such fiscal quarter, including the proceeds obtained from the incurrence of such additional Debt. 
 For purposes of this Section 4.01, Debt will be
deemed to be incurred by the General Partner or any of its Subsidiaries whenever the General Partner or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. 

Section 4.02. Debt Service Test. The General Partner will not, and will not permit any of its Subsidiaries to, incur any Debt
(including without limitation Acquired Debt) if the ratio of Consolidated Income Available for Debt Service to Annual Debt Service Charge for the period consisting of the four consecutive fiscal quarters most recently ended prior to the date on
which such additional Debt is to be incurred shall have been less than 1.5:1 on a pro forma basis after giving effect to the incurrence of such Debt and the application of the proceeds from such Debt (determined on a consolidated basis in accordance
with GAAP), and calculated on the following assumptions: 
 (a) such Debt and any other Debt (including without limitation
Acquired Debt) incurred by the General Partner or any of its Subsidiaries since the first day of such four-quarter period had been incurred, and the application of the proceeds from such Debt (including to repay or retire other Debt) had occurred,
on the first day of such period; 
 (b) the repayment or retirement of any other Debt of the General Partner or any of its
Subsidiaries since the first day of such four-quarter period had occurred on the first day of such period (provided that, except to the extent set forth in clause (a) above or clause (c) below, in making this computation, the amount
of Debt under any revolving credit facility, line of credit or similar facility will be computed based upon the average daily balance of such Debt during such period); and 

  
 15 

 (c) in the case of any acquisition or disposition by the General Partner or any
of its Subsidiaries of any asset or group of assets with a Fair Market Value in excess of $1.0 million since the first day of such four-quarter period, whether by merger, stock purchase or sale or asset purchase or sale or otherwise, such
acquisition or disposition had occurred as of the first day of such period with the appropriate adjustments with respect to such acquisition or disposition being included in such pro forma calculation. 

If the Debt giving rise to the need to make the calculation described in this Section 4.02 or any other Debt incurred after the first day
of the relevant four-quarter period bears interest at a floating rate, then, for purposes of calculating the Annual Debt Service Charge, the interest rate on such Debt will be computed on a pro forma basis by applying the average daily rate which
would have been in effect during the entire four-quarter period to the greater of the amount of such Debt outstanding at the end of such period or the average amount of such Debt outstanding during such period. For purposes of this
Section 4.02, Debt will be deemed to be incurred by the General Partner or any of its Subsidiaries whenever the General Partner or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. 

Section 4.03. Secured Debt Test. The General Partner will not, and will not permit any of its Subsidiaries to, incur any Debt
(including without limitation Acquired Debt) secured by any Lien on any property or assets of the General Partner or any of its Subsidiaries, whether owned on the date of this Supplemental Indenture or subsequently acquired, if, immediately after
giving effect to the incurrence of such Debt and the application of the proceeds from such Debt on a pro forma basis, the aggregate principal amount (determined on a consolidated basis in accordance with GAAP) of all outstanding Debt of the General
Partner and its Subsidiaries which is secured by a Lien on any property or assets of the General Partner or any of its Subsidiaries is greater than 40% of the sum of (without duplication): 

(a) the Total Assets of the General Partner and its Subsidiaries as of the last day of the then most recently ended fiscal
quarter; and 
 (b) the aggregate purchase price of any real estate assets or mortgages receivable acquired, and the
aggregate amount of any securities offering proceeds received (to the extent such proceeds were not used to acquire real estate assets or mortgages receivable or used to reduce Debt), by the General Partner or any of its Subsidiaries since the end
of such fiscal quarter, including the proceeds obtained from the incurrence of such additional Debt. 
 For purposes of this
Section 4.03, Debt will be deemed to be incurred by the General Partner or any of its Subsidiaries whenever the General Partner or such Subsidiary shall create, assume, guarantee or otherwise become liable in respect thereof. 

Section 4.04. Maintenance of Total Unencumbered Assets. The General Partner will not have at any time Total Unencumbered Assets of
less than 150% of the aggregate principal amount of all outstanding Unsecured Debt of the General Partner and its Subsidiaries determined on a consolidated basis in accordance with GAAP. 

  
 16 

 ARTICLE 5 

EVENTS OF DEFAULT; REMEDIES 

Section 5.01. Events of Default. In addition to the Events of Default set forth in Section 501 of the Indenture, each of which
shall apply to the Notes, each of the following shall constitute an Event of Default with respect to the Notes (for which the provisions set forth in Article 5 of the Indenture shall apply): 

(a) failure on the part of either the Issuer or the General Partner to comply with its respective obligations under Article 7;
and 
 (b) any guarantee by a Guarantor (excluding, in the case of a Subsidiary Guarantor, a Subsidiary Guarantor that is not
also a Significant Subsidiary) ceases for any reason to be, or is asserted in writing by us or such Guarantor not to be, in full force and effect and enforceable in accordance with its terms except to the extent contemplated by the Indenture and any
such Guarantee. 
 ARTICLE 6 

SUPPLEMENTAL INDENTURES 

Section 6.01. Supplemental Indentures with and without Consent of Noteholders. Clauses (1) and (9) of Section 901
of the Indenture shall not apply with respect to the Notes. In addition, the Issuer and the General Partner, when authorized by resolutions of the Board of Directors of the General Partner and the General Partner on behalf of the Issuer, and the
Trustee may from time to time, and at any time, enter into an indenture or indentures supplemental to the Indenture and this Supplemental Indenture without the consent of any Holder of the Notes for either of the following purposes (in which case
the provisions of Article 9 of the Indenture shall apply: 
 (a) to cure any ambiguity, defect or inconsistency in the
Indenture; provided that this action shall not adversely affect the interests of the Holders of the Notes in any respect; or 

(b) to supplement any of the provisions of the Indenture and this Supplemental Indenture to the extent necessary to permit or
facilitate satisfaction and discharge, legal defeasance or covenant defeasance pursuant to Article 4 of the Indenture; provided that the action shall not adversely affect the interests of the Holders of the Notes in any respect. 

ARTICLE 7 

CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE 

Section 7.01. Issuer May Consolidate on Certain Terms. Nothing contained in the Indenture or in the Notes shall prevent any
consolidation or merger of the Issuer with or into any other Person or Persons (whether or not affiliated with the Issuer), or successive consolidations 

  
 17 

 
or mergers, or shall prevent any sale, conveyance, transfer or lease of all or substantially all of the property of the Issuer to any other Person (whether or not affiliated with the Issuer);
provided, however, that the following conditions are met: 
 (a) the Issuer shall be the continuing entity, or if
other than the Issuer, the successor entity formed by or resulting from any consolidation or merger or which shall have received the transfer of assets shall be organized and validly existing under the laws of the United States of America, any State
thereof or the District of Columbia and shall expressly assume payment of the principal of, premium, if any, and Interest on all of the Notes and the due and punctual performance and observance of all of the covenants and conditions in the
Indenture; 
 (b) immediately after giving effect to such transaction, no Event of Default and no event which, after notice
or lapse of time, or both, would become an Event of Default, shall have occurred and be continuing; and 
 (c) either the
Issuer or the successor Person, as the case may be, shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, conveyance, transfer or lease and, if a supplemental
indenture is required in connection with such transaction, such supplemental indenture complies with this Article 7 and that all conditions precedent herein provided for relating to such transaction have been complied with. 

No such consolidation, merger, sale, conveyance, transfer or lease shall be permitted by this Section 7.01 unless prior thereto the
General Partner shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that the Guarantors obligations hereunder shall remain in full force and effect thereafter. 

Section 7.02. General Partner May Consolidate on Certain Terms. Nothing contained in the Indenture or in the Notes shall
prevent any consolidation or merger of the General Partner with or into any other Person or Persons (whether or not affiliated with the General Partner), or successive consolidations or mergers, or shall prevent any sale, conveyance, transfer or
lease of all or substantially all of the property of the General Partner to any other Person (whether or not affiliated with the General Partner); provided, however, that: 

(a) the General Partner shall be the continuing entity, or the successor entity (if other than the General Partner) formed by
or resulting from any consolidation or merger or which shall have received the transfer of assets shall be organized and validly existing under the laws of the United States of America, any State thereof or the District of Columbia and shall
expressly assume the obligations of the General Partner under the Guarantees and the due and punctual performance and observance of all of the covenants and conditions in the Indenture; 

(b) immediately after giving effect to such transaction, no Event of Default and no event which, after notice or lapse of time
or both, would become an Event of Default, shall have happened and be continuing; and 

  
 18 

 (c) either the General Partner or the successor Person, as the case may be, shall
have delivered to the Trustee an Officers’ Certificate, as the case may be, and an Opinion of Counsel, each stating that such consolidation, sale, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection
with such transaction, such supplemental indenture comply with this Article 7, that all conditions precedent herein provided for relating to such transaction have been complied with, and each stating that the Guarantors obligations hereunder shall
remain in full force and effect thereafter. 
 ARTICLE 8 

FUTURE GUARANTEES 

Section 8.01. Guarantees. Article 15 of the Indenture shall apply to the Notes. In addition, from and after the Issue Date, the
Issuer or the General Partner, as applicable, shall cause any Subsidiary of the Issuer or the General Partner that guarantees payment of more than $35,000,000 of the Issuer’s indebtedness for money borrowed or more than $35,000,000 of the
indebtedness for money borrowed of the Issuer’s or the General Partner’s other Subsidiaries to execute and deliver to the Trustee a supplemental indenture pursuant to which such Subsidiary shall guarantee payment of the Notes, whereupon
such Subsidiary shall become a Guarantor for all purposes under the Indenture. The Issuer or the General Partner, as applicable, shall cause each Subsidiary that is required to become a Guarantor pursuant to the immediately preceding sentence to
promptly execute and deliver to the Trustee a supplemental indenture substantially in the form set forth in Exhibit B to this Supplemental Indenture, or otherwise in form and substance reasonably satisfactory to the Trustee, evidencing
its Guarantee on substantially the terms set forth in Article 15 of the Indenture. Concurrently therewith, the Issuer or the General Partner, as applicable, shall deliver to the Trustee an Opinion of Counsel in form and substance reasonably
satisfactory to the Trustee to the effect that such supplemental indenture has been duly authorized, executed and delivered by such Subsidiary and that, subject to applicable bankruptcy, insolvency, fraudulent transfer, fraudulent conveyance,
reorganization, moratorium and other laws now or hereafter in effect affecting creditors’ rights or remedies generally and to general principles of equity (including standards of materiality, good faith, fair dealing and reasonableness),
whether considered in a proceeding at law or at equity, such supplemental indenture is a valid and binding agreement of such subsidiary, enforceable against such subsidiary in accordance with its terms. 

Section 8.02. Release of Guarantee. In addition to the circumstances under which a Guarantor may be released as set forth in
Section 1505 of the Indenture, and notwithstanding the provisions of Section 1505 of the Indenture, a Subsidiary Guarantor shall be automatically and unconditionally released from its obligations under the Indenture and this Supplemental
Indenture: 
 (a) upon the sale or other disposition of such Guarantor; 

(b) upon the sale or disposition of all or substantially all of the assets of such Guarantor; 

  
 19 

 provided, however, that in either case, (1) such sale or other disposition is made to a Person other
than the General Partner or any of its Subsidiaries and (2) such sale or disposition is otherwise permitted by the Indenture. Upon any such occurrence specified in this Section 8.02, at the Issuer’s request, and upon delivery to the
Trustee of an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent under the Indenture relating to such release have been complied with, the Trustee shall execute any documents reasonably requested by the
Issuer evidencing such release. 
 Section 8.03. Notices. Notice to any Guarantor shall be sufficient if addressed to such
Guarantor care of the Issuer at the address, place and manner provided in Section 105 of the Indenture. 
 ARTICLE 9 

MISCELLANEOUS PROVISIONS 

Section 9.01. Continued Effect. Except as expressly supplemented and amended by this Supplemental Indenture, the Indenture shall
continue in full force and effect in accordance with the provisions thereof, and the Indenture (as further supplemented and amended by this Supplemental Indenture) is in all respects hereby ratified and confirmed. This Supplemental Indenture and all
its provisions shall be deemed a part of the Indenture in the manner and to the extent herein and therein provided. 
 Section 9.02.
Payments. If any Interest Payment Date or Maturity Date or Redemption Date falls on a day that is not a Business Day, the required payment shall be made on the next Business Day as if it were made on the date such payment was due and no
interest shall accrue on the amount so payable from and after such Interest Payment Date or Maturity Date or Redemption Date, as the case may be, to such next Business Day. 

Section 9.03. Governing Law. The Indenture, the Notes and the Guarantees shall be governed by, and construed in accordance with,
the laws of the State of New York. 
 Section 9.04. No Security Interest Created. Nothing in the Indenture or in the Notes,
expressed or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect, in any jurisdiction in which property of the Issuer or its subsidiaries
is located. 
 Section 9.05. Table of Contents, Headings, etc. The table of contents and the titles and headings of the Articles
and Sections of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

Section 9.06. Execution in Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which
shall be an original, but such counterparts shall together constitute but one and the same instrument. 
 Section 9.07.
Severability. In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, then, to the maximum extent permitted by applicable law, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby. 

  
 20 

 U.S. Bank National Association hereby accepts the trusts in this Supplemental Indenture declared
and provided, upon the terms and conditions herein above set forth. 
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed. 
  

					
	COLUMBIA PROPERTY TRUST, INC.
		
	By:	 	 /s/ James A. Fleming

		 	Name:	 	James A. Fleming
		 	Title:	 	Executive Vice President and Chief
		 		 	Financial Officer

 [Signature Page to Second Supplemental Indenture] 

 
					
	COLUMBIA PROPERTY TRUST OPERATING PARTNERSHIP, L.P.
			
	By:	 		 	Columbia Property Trust, Inc.
	Its:	 		 	General Partner

 
					
		
	By:	 	 /s/ James A. Fleming

		 	Name:	 	James A. Fleming
		 	Title:	 	Executive Vice President and Chief
		 		 	Financial Officer

  
 [Signature Page to Second
Supplemental Indenture] 

 Confirmed and accepted as of the date first above written: 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Richard Prokosch

		 	  Richard Prokosch

		 	  Vice President

 [Signature Page to Second Supplemental Indenture] 

 EXHIBIT A 

[FACE OF NOTE] 
 No.
[        ] 
 COLUMBIA PROPERTY TRUST OPERATING PARTNERSHIP, L.P. 

3.650% SENIOR NOTES DUE 2026 

CUSIP: 19828J AB4 

$                        
         
 Columbia Property Trust Operating Partnership, L.P., a Delaware limited partnership (the
“Issuer”, which term includes any successor under the Indenture hereinafter referred to), for value received, promises to pay
to                                         
                ,    or its registered assigns, the principal sum
of                                 DOLLARS
($                         ) [or such other amount as indicated on the Schedule of Exchange of Notes attached hereto] on
August 15, 2026. 
  

					
			
		 	Interest Rate:	  	3.650% per annum
			
		 	Interest Payment Dates:	  	February 15 and August 15, commencing February 15, 2017
			
		 	Regular Record Dates:	  	February 1 and August 1

 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will
for all purposes have the same effect as if set forth at this place. 

  
 A-1 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed. 

 

									
	Dated:	 		 	COLUMBIA PROPERTY TRUST OPERATING PARTNERSHIP, L.P.
				
		 		 	By:	 	Columbia Property Trust, Inc., as its sole general partner
				
		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
				
		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	

 I, [name], [title] of Columbia Property Trust, Inc., do hereby certify that [name] is on the date hereof the
duly elected or appointed, qualified and acting [title] of Columbia Property Trust, Inc., and that [name] is on the date hereof the duly elected or appointed, qualified and acting [title] of Columbia Property Trust, Inc., and that the signatures set
forth above are the genuine signatures of such officers, respectively. 
  

	
	  

	Name:
	Title:

  
 A-2 

 (Form of Trustee’s Certificate of Authentication) 

This is one of the 3.650% Senior Notes due 2026 described in the Indenture referred to in this Note. 

 

							
	Dated:	 		 		 	U.S. BANK NATIONAL ASSOCIATION,
		 		 		 	as Trustee
				
		 		 	By:	 	  

		 		 		 	 Authorized Signatory

  
 A-3 

 [REVERSE SIDE OF NOTE] 

COLUMBIA PROPERTY TRUST OPERATING PARTNERSHIP, L.P. 

3.650% SENIOR NOTES DUE 2026 

Principal and Interest 

The Issuer promises to pay the principal of this Note on August 15, 2026. 

The Issuer promises to pay interest on the principal amount of this Note on each interest payment date, as set forth on the face of this Note,
at the rate of 3.650% per annum (subject to adjustment as provided below). 
 Interest will be payable semiannually (to the holders of
record of the Notes at the close of business on the February 1 or August 1 immediately preceding the interest payment date) on each interest payment date, commencing February 15, 2017. Interest on the Notes shall be computed on the
basis of a 360-day year consisting of twelve 30-day months. 
 Interest on this Note will accrue from the most recent date to which interest
has been paid on this Note [(or, if there is no existing default in the payment of interest and if this Note is authenticated between a regular record date and the next interest payment date, from such interest payment date)]1 or, if no interest has been paid, from [the Issue Date]2. 

Interest on any Global Note shall be paid by wire transfer of immediately available funds to the account of the Depositary or its nominee.
Payment of the principal of Notes not represented by a Global Note shall be made at the office or agency designated by the Issuer for such purpose. Interest on Notes not represented by a Global Note shall be paid (i) to Holders having an
aggregate principal amount of $5,000,000 or less, by check mailed to the Holders of these Notes and (ii) to Holders having an aggregate principal amount of more than $5,000,000, either by check mailed to each Holder or, upon application by a
Holder to the Security Registrar not later than the relevant Regular Record Date, by wire transfer in immediately available funds to that Holder’s account within the United States, which application shall remain in effect until the Holder
notifies, in writing, the Security Registrar to the contrary. 
 Interest on any overdue installments of principal of and (to the extent
that payment of such Interest is lawful) Interest on the Notes shall accrue and be payable at the same rate as Interest is otherwise payable on the Notes. Interest not paid when due and any Interest on principal, premium or Interest not paid when
due will be paid to the Persons that are Holders on a special record date, which will be the 15th day preceding the date fixed by the Issuer for the payment of such Interest, whether or not such day is a Business Day. At least 15 days before a
special record date, the Issuer will send to each Holder and to the Trustee a notice that sets forth the special record date, the payment date and the amount of Interest to be paid. 

 

	1 	Insert if applicable. 

	2 	For additional Notes, should be the date of their original issue. 

  
 A-4 

 Indentures; Note Guarantee 

This is one of the Notes issued under an Indenture dated as of March 12, 2015, as amended by the Second Supplemental Indenture thereto
dated as of August 12, 2016 (as so amended and as otherwise amended from time to time, the “Indenture”), among the Issuer, the Guarantor party thereto and U.S. Bank National Association, as Trustee. Capitalized terms used herein are
used as defined in the Indenture unless otherwise indicated. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and
Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the
terms of the Indenture will control. 
 The Notes are general unsecured obligations of the Issuer. The Indenture limits the original
aggregate principal amount of the Notes to $350,000,000, but additional Notes may be issued pursuant to the Indenture, and the originally issued Notes and all such additional Notes vote together for all purposes as a single class. This Note is
guaranteed, as set forth in the Indenture. 
 Registered Form; Denominations; Transfer; Exchange 

The Notes are in registered form without coupons in denominations of $2,000 principal amount and any multiple of $1,000 in excess thereof. A
Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the
Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue, register the transfer of or exchange any Note or certain portions of a Note. 

Redemption and Repurchase; Discharge Prior to Redemption or Maturity 

The Issuer shall have the right to redeem the Notes, in whole at any time and from time to time in part, at the Redemption Price and on the
terms and conditions set forth in the Indenture. 
 The Notes are not subject to redemption through the operation of any sinking fund. 

Subject to certain conditions set forth in the Indenture, the Issuer at any time may terminate some or all of its obligations under the Notes
and the Indenture if the Issuer deposits with the Trustee money or Government Obligations for the payment of principal and interest on the Notes to redemption or maturity, as the case may be. 

Defaults and Remedies 
 If
an Event of Default, as defined in the Indenture, occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due and payable. If a bankruptcy or insolvency default with
respect to the Issuer occurs and is continuing, then the principal amount of and Interest accrued and unpaid on all the Notes shall be immediately due and payable without any declaration or other action on the part of the Trustee or any Holder of
Notes. 

  
 A-5 

 Amendment and Waiver 

The Indenture contains provisions permitting the Issuer, the General Partner, the Subsidiary Guarantors and the Trustee, with the consent of
the Holders of not less than a majority in aggregate principal amount of the Notes at the time outstanding, to execute supplemental indentures adding any provisions to or changing in any manner or eliminating any of the provisions of the Indenture
or of any supplemental indenture or modifying in any manner the rights of the Holders of the Notes, subject to certain exceptions. 

Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal amount of the Notes at the time
outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default, subject to the exceptions set forth in the Indenture. 

No Recourse 
 Except as
expressly provided in the Indenture, no recourse for the payment of the principal of (including the Redemption Price upon redemption pursuant to the Indenture) or Interest on this Note, or for any claim based hereon or otherwise in respect hereof,
and no recourse under or upon any obligation, covenant or agreement of the Issuer or any Guarantor in the Indenture or any supplemental indenture or in this Note, or because of the creation of any indebtedness represented thereby, or in the
Guarantees, shall be had against any incorporator, stockholder, trustee, partner, member, manager, employee, agent, officer, director or subsidiary, as such, past, present or future, of the Issuer or any Guarantor or any of the Issuer’s or
Guarantor’s respective Subsidiaries or of any successor thereto, either directly or through the Issuer or any Guarantor or any of the Issuer’s or any Guarantor’s respective Subsidiaries or of any successor thereto, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released as a condition of, and as consideration for,
the execution of the Indenture and the issue of this Note. 
 Authentication 

This Note is not valid until the Trustee (or Authenticating Agent) signs the certificate of authentication on the other side of this Note. 

Governing Law 
 The Notes
shall be governed by, and construed in accordance with, the laws of the State of New York. 
 Abbreviations 

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

  
 A-6 

 Other 

The Issuer will furnish a copy of the Indenture to any Holder upon written request and without charge. 

  
 A-7 

 [FORM OF TRANSFER NOTICE] 

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

 

	
	Insert Taxpayer Identification No.
	  

	  

	Please print or typewrite name and address including zip code of assignee
	
	  

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

	attorney to transfer said Note on the books of the Issuer with full power of substitution in the premises.
	
	Signature
Guarantee:3                              
                                         
                                         
            

  

			
	By	 	  

	To be executed by an executive officer

  

	3 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Securities Transfer
Association Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  
 A-8 

 SCHEDULE OF EXCHANGES OF NOTES4 

The following exchanges of a part of this Global Note for Physical Notes or a part of another Global Note have been made: 

 

																	
	 Date of Exchange
	  	Amount of decrease
in principal amount
of this Global Note	 	  	Amount of increase in
principal amount of
this Global Note	 	  	Principal amount of
this Global Note
following such
decrease (or increase)	 	  	Signature of
authorized officer of
Trustee	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  

	4 	For Global Notes 

  
 A-9 

 EXHIBIT B 

SUPPLEMENTAL INDENTURE 

dated as of                      ,
                     
 among 

COLUMBIA PROPERTY TRUST OPERATING PARTNERSHIP, L.P., 

COLUMBIA PROPERTY TRUST, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 

3.650% Senior Notes due 2026 

  
 B-1 

 THIS
[                     ] SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), entered into as of
                     ,            , among Columbia Property Trust Operating Partnership,
L.P., a Delaware limited partnership (the “Issuer”), the General Partner (defined below), [insert each Guarantor executing this Supplemental Indenture and its jurisdiction of incorporation] (each an “Undersigned”)
and U.S. Bank National Association, as trustee (the “Trustee”). 
 RECITALS 

WHEREAS, the Issuer, Columbia Property Trust, Inc., a Maryland corporation (the “General Partner”) and the Trustee
entered into the Indenture, dated as of March 12, 2015 (the “Base Indenture”), as supplemented by the Second Supplemental Indenture (the “Supplemental Indenture”), dated as of August 12, 2016 (as so
supplemented and as otherwise supplemented from time to time, the “Indenture”), relating to the Issuer’s 3.650% Senior Notes due 2026 (the “Notes”); 

WHEREAS, pursuant to Section 8.01 of the Supplemental Indenture, the Issuer and the General Partner agree to cause subsidiaries to
provide Guaranties in circumstances specified therein; 
 AGREEMENT 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this
Supplemental Indenture hereby agree as follows: 
 Section 1. Capitalized terms used herein and not otherwise defined herein are used
as defined in the Indenture. 
 Section 2. Each Undersigned, by its execution of this Supplemental Indenture, agrees to be a Guarantor
under the Indenture and to be bound by the terms of the Indenture applicable to Guarantors, including, but not limited to, Article 15 of the Base Indenture. 

Section 3. This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York. 

Section 4. This Supplemental Indenture may be signed in various counterparts which together will constitute one and the same instrument.

 Section 5. This Supplemental Indenture is an amendment supplemental to the Indenture and the Indenture and this Supplemental
Indenture will henceforth be read together. 

  
 B-2 

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

			
	Columbia Property Trust Operating Partnership, L.P., as Issuer
		
	By:	 	  

		 	Name:
		 	Title:
	
	Columbia Property Trust, Inc., as General Partner
		
	By:	 	  

		 	Name:
		 	Title:
	
	[GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	U.S. Bank National Association, as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 B-3

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