Document:

EX-4.1

 Exhibit 4.1 
  

 
  

THIRTY-FIFTH SUPPLEMENTAL INDENTURE 

between 

METLIFE, INC., 

as Issuer, 
 and 

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

Dated as of March 23, 2020 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	ARTICLE I	  			
	SENIOR NOTES	  			
		
	 SECTION 1.01 Definitions.
	  	 	1	 
	 SECTION 1.02 Establishment.
	  	 	2	 
	 SECTION 1.03 Payment of Principal and Interest.
	  	 	3	 
	 SECTION 1.04 Denominations.
	  	 	4	 
	 SECTION 1.05 Global Securities.
	  	 	4	 
	 SECTION 1.06 Transfer.
	  	 	5	 
	 SECTION 1.07 Defeasance.
	  	 	5	 
	 SECTION 1.08 Redemption at the Option of the Company.
	  	 	5	 
	 SECTION 1.09 No Sinking Fund
	  	 	7	 
		
	ARTICLE II	  			
	MISCELLANEOUS PROVISIONS	  			
		
	 SECTION 2.01 Senior Notes Unaffected by Other Supplemental Indentures.
	  	 	7	 
	 SECTION 2.02 Trustee Not Responsible for Recitals.
	  	 	7	 
	 SECTION 2.03 Ratification and Incorporation of Original Indenture.
	  	 	7	 
	 SECTION 2.04 Governing Law.
	  	 	7	 
	 SECTION 2.05 Separability.
	  	 	7	 
	 SECTION 2.06 Executed in Counterparts.
	  	 	8	 
		
	 EXHIBIT A Form of 4.550% Senior Notes due 2030
	  	 	A-1	 

  
 ii 

 THIRTY-FIFTH SUPPLEMENTAL INDENTURE, dated as of March 23, 2020 (this
“Thirty-Fifth Supplemental Indenture”), between MetLife, Inc., a Delaware corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), supplementing
the Indenture, dated as of November 9, 2001 (the “Original Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor in interest to J.P. Morgan Trust Company, National Association (as
successor to Bank One Trust Company, N.A.)), as trustee. 
 RECITALS 

WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide for the future issuance of the Company’s
senior debt securities (the “Securities”), to be issued from time to time in one or more series as might be determined by the Company under the Original Indenture; 

WHEREAS, pursuant to the terms of the Original Indenture and this Thirty-Fifth Supplemental Indenture (together, the
“Indenture”), the Company desires to provide for the establishment of a new series of Securities to be known as the 4.550% Senior Notes due 2030 (the “Senior Notes”), the form and substance of such Senior Notes, and
the terms, provisions and conditions thereof to be set forth herein as provided in the Indenture; 
 WHEREAS, the Company has requested that
the Trustee, in respect to the Senior Notes, execute and deliver this Thirty-Fifth Supplemental Indenture in such capacity; and 
 WHEREAS,
all requirements necessary to make this Thirty-Fifth Supplemental Indenture a valid instrument in accordance with its terms and to make the Senior Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid
obligations of the Company, have been done and performed, and the execution and delivery of this Thirty-Fifth Supplemental Indenture has been duly authorized in all respects; 

NOW THEREFORE, in consideration of the purchase and acceptance of the Senior Notes by the holders thereof, and for the purpose of setting
forth, as provided in the Indenture, the form and substance of the Senior Notes, and the terms, provisions and conditions thereof, the parties hereto hereby agree as follows: 

ARTICLE I 
 SENIOR
NOTES 
 SECTION 1.01 Definitions. 

Unless the context otherwise requires or unless otherwise set forth herein: 

  
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 (a) a term not defined herein that is defined in the Original Indenture, has the same
meaning when used in this Thirty-Fifth Supplemental Indenture; 
 (b) the definition of any term in this Thirty-Fifth Supplemental Indenture
that is also defined in the Original Indenture, shall for the purposes of this Thirty-Fifth Supplemental Indenture supersede the definition of such term in the Original Indenture; 

(c) a term defined anywhere in this Thirty-Fifth Supplemental Indenture has the same meaning throughout; 

(d) the definition of a term in this Thirty-Fifth Supplemental Indenture is not intended to have any effect on the meaning or definition of an
identical term that is defined in the Original Indenture insofar as the use or effect of such term in the Original Indenture, as previously defined, is concerned; 

(e) the singular includes the plural and vice versa; 

(f) headings are for convenience of reference only and do not affect interpretation; and 

(g) the following terms have the meanings given to them in this Section 1.01(g): 

“Interest Payment Date” means March 23 and September 23 of each year, commencing September 23, 2020. 

“Original Issue Date” means March 23, 2020. 

“Redemption Date” means the date fixed for the redemption of the Senior Notes by or pursuant to the Indenture. 

“Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the preceding March 8
or September 8, as the case may be (whether or not a Business Day). 
 “Stated Maturity” means March 23, 2030.

 SECTION 1.02 Establishment. 

(a)    There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the
Company’s 4.550% Senior Notes due 2030. 
  

	 	(b)	 There are to be authenticated and delivered the Senior Notes, initially limited in aggregate principal amount
to $1,000,000,000, and no further Senior Notes shall be authenticated and delivered except as provided by Sections 2.05, 2.07, 2.11, 3.03 or 9.04 of the Original Indenture; provided, however, that the aggregate principal amount of the
Senior Notes may be increased in the future with no limit, without the consent of the holders of the Senior Notes, on the same terms and with the same CUSIP and ISIN numbers as the Senior Notes, except for the issue price, Original Issue Date and,
if applicable, the first 

  
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Interest Payment Date and the initial interest accrual date, provided that no Event of Default with respect to the Senior Notes shall have occurred and be continuing. The Senior Notes
shall be issued in fully registered form. 

 (c)    The Senior Notes shall be issued in the form of one or
more Global Securities, registered in the name of the Depositary (as defined below) or its nominee. Each Global Security and the Trustee’s Certificate of Authentication thereof, shall be in substantially the form set forth in Exhibit A hereto.
The depositary with respect to the Senior Notes shall be The Depository Trust Company (the “Depositary”). 

(d)    Each Senior Note shall be dated the date of authentication thereof and shall bear interest from the Original Issue
Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 
 SECTION 1.03 Payment of
Principal and Interest. 
 (a)    The principal of the Senior Notes shall be due at Stated Maturity. The unpaid
principal amount of the Senior Notes shall bear interest at the rate of 4.550% per year until paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date, commencing September 23, 2020, to the Person
in whose name the Senior Notes are registered on the Regular Record Date for such Interest Payment Date, provided that interest payable at the Stated Maturity or upon redemption will be paid to the Person to whom principal is payable. Any
such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the holders on such Regular Record Date and may be paid as provided in Section 2.03 of the Original Indenture. 

(b)    Payments of interest on the Senior Notes will include interest accrued to but excluding the respective Interest
Payment Dates. Interest payments for the Senior Notes shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. 

(c)    In the event that any date on which interest is payable on the Senior Notes is not a Business Day, then a payment
of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year,
such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date the payment was originally payable. 

(d)    The Trustee is hereby designated as Paying Agent for the Senior Notes and all payments of the principal of, and
premium, if any, and interest due on the Senior Notes at the Stated Maturity or upon redemption will be made upon surrender of the Senior Notes at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York. 

(e)    The principal of, and premium, if any, and interest due on the Senior Notes shall be paid in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable and
subject, in the case of a Global Security, to the Trustee’s arrangements with the Depositary, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address

  
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shall appear in the Security Register, or (ii) by wire transfer at such place and to such account at a banking institution in the United States of America as may be designated in writing to
the Trustee at least 15 days prior to the date for payment by the Person entitled thereto. 
 SECTION 1.04 Denominations. 

The Senior Notes may be issued in denominations of $2,000, or any integral multiple of $1,000 in excess thereof. 

SECTION 1.05 Global Securities. 

(a)    Except under the limited circumstances described below, Senior Notes represented by Global Securities will not be
exchangeable for, and will not otherwise be issuable as, Senior Notes in definitive form. The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the
Depositary or another nominee of the Depositary or to a successor Depositary or its nominee. 
 (b)    Except as
otherwise provided in this Thirty-Fifth Supplemental Indenture, owners of beneficial interests in such Global Securities will not be considered the holders thereof for any purpose under the Indenture, and no Global Security representing a Senior
Note shall be exchangeable, except for another Global Security of like denomination and to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee. The rights of holders of such Global Securities shall
be exercised only through the Depositary. 
 (c)    A Global Security shall be exchangeable in whole or, from time to
time, in part for Senior Notes in definitive registered form only as provided in the Indenture. If (i) at any time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Senior Notes or if at any
time the Depositary shall no longer be registered or in good standing as a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute or
regulation, at such time as the Depositary is required to be so registered and the Depositary so notifies the Company and, in each case, the Company does not appoint a successor Depositary within 90 days after the Company receives such notice or
becomes aware of such condition, as the case may be, (ii) any Event of Default or Default has occurred and is continuing with respect to the Senior Notes or (iii) subject to the procedures of the Depositary, the Company in its sole
discretion determines that the Senior Notes shall be exchangeable for Senior Notes in definitive registered form and executes and, in each case, delivers to the Security Registrar a written order of the Company providing that the Senior Notes shall
be so exchangeable, the Senior Notes shall be exchangeable for Senior Notes in definitive registered form, provided that the definitive Senior Notes so issued in exchange for the Senior Notes shall be in denominations of $2,000, or any
integral multiple of $1,000 in excess thereof, and be of like aggregate principal amount and tenor as the portion of the Senior Notes to be exchanged. Except as provided herein, owners of beneficial interests in the Senior Notes will not be entitled
to have Senior Notes registered in their names, will not receive or be entitled to physical delivery of Senior Notes in definitive registered form and will not be considered the holders thereof for any purpose under the Indenture. Neither the
Company, the Trustee, any Paying Agent nor the Security Registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial 

  
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ownership interests in the Senior Notes, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. Any Global Security that is exchangeable
pursuant to this Section 1.05(c) shall be exchangeable for Senior Notes registered in such names as the Depositary shall direct. 

SECTION 1.06 Transfer. 

The Trustee is hereby designated as Security Registrar for the Senior Notes. No service charge will be made for any registration of transfer or
exchange of Senior Notes, but payment will be required of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 

SECTION 1.07 Defeasance. 

The provisions of Sections 13.02 and 13.03 of the Original Indenture will apply to the Senior Notes. 

SECTION 1.08 Redemption at the Option of the Company. 

(a)    At any time and from time to time prior to December 23, 2029 (the “Par Call Date”), the Senior
Notes will be redeemable at the Company’s option, in whole or in part, at a redemption price equal to the greater of 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but excluding, the Redemption Date and
the “Make-Whole Redemption Amount” (as defined below). 
 (b)    At any time and from time to time on or
after the Par Call Date, the Senior Notes will be redeemable at the Company’s option, in whole or in part, at a redemption price equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but excluding,
the Redemption Date. 
 “Make-Whole Redemption Amount” means the sum, as calculated by the Premium
Calculation Agent, of the present values of the remaining scheduled payments of principal of and interest on the Senior Notes to be redeemed (assuming for such purposes that the Senior Notes mature on the Par Call Date, and not including any portion
of those payments of interest accrued as of any Redemption Date), discounted from their respective scheduled payment dates to such Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate plus 50 basis points plus accrued and unpaid interest thereon to, but excluding, such Redemption Date. 

For purposes of the preceding definition: 

(i)    “Comparable Treasury Issue” means, with respect to any Redemption Date, the
U.S. Treasury security selected by the Premium Calculation Agent as having a maturity comparable to the term remaining from such Redemption Date to the Par Call Date (the “Remaining Life”), that would be utilized, at the time
of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life. 

  
 5 

 (ii)    “Comparable Treasury Price”
means, with respect to any Redemption Date, (1) the average of five Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Premium
Calculation Agent obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations. 

(iii)    “Premium Calculation Agent” means an investment banking institution of national
standing appointed by the Company. 
 (iv)    “Reference Treasury Dealers” means
(1) Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”) the Company will substitute therefor another Primary Treasury Dealer, and (2) any other
Primary Treasury Dealers selected by the Premium Calculation Agent after consultation with the Company. 

(v)    “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Premium Calculation Agent, of the bid and ask prices for the Comparable Treasury Issue (expressed, in each case, as a percentage of its principal amount) quoted in writing to
the Premium Calculation Agent by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

(vi)    “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 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 will be calculated on the third Business Day preceding such Redemption Date. 

(c)    Notwithstanding Section 3.02 of the Original Indenture, the notice of redemption with respect to any
redemption pursuant to Section 1.08(a) need not set forth the Redemption Price but only the manner of calculation thereof as described above. 

(d)    The Company shall notify the Trustee of the Redemption Price with respect to any redemption pursuant to
Section 1.08(a) promptly after the calculation thereof. The Trustee shall not be responsible for calculating said Redemption Price. 

(e)    If less than all of the Senior Notes are to be redeemed, the Trustee shall select the Senior Notes or portions of
the Senior Notes to be redeemed by such method as the Trustee shall deem fair and appropriate. The Trustee may select for redemption Senior Notes and portions of Senior Notes in amounts of $1,000 and integral multiples of $1,000 in excess thereof
(provided that the unredeemed portion of any Senior Note to be redeemed in part will not be less than $2,000) and shall thereafter promptly notify the Company in writing of the numbers of Senior Notes to be redeemed, in whole or in part;
provided that if the Senior Notes are represented by one or more Global Securities, interests in such Global Securities shall be selected for redemption by the Depositary in accordance with its standard procedures therefor. 

  
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 SECTION 1.09 No Sinking Fund. 

The Senior Notes shall not be entitled to any sinking fund. 

ARTICLE II 

MISCELLANEOUS PROVISIONS 

This Thirty-Fifth Supplemental Indenture will become effective upon its execution and delivery. 

SECTION 2.01 Senior Notes Unaffected by Other Supplemental Indentures. 

None of the Company’s supplemental indentures to the Original Indenture entered into prior to the date hereof applies to the Senior Notes.
To the extent the terms of the Original Indenture are amended by any of such other supplemental indentures, no such amendment shall relate or apply to the Senior Notes. To the extent the terms of the Original Indenture are amended as provided
herein, no such amendment shall in any way affect the terms of any such other supplemental indenture or any other series of Securities. This Thirty-Fifth Supplemental Indenture shall relate and apply solely to the Senior Notes. 

SECTION 2.02 Trustee Not Responsible for Recitals. 

The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness
thereof. The Trustee makes no representation as to the validity or sufficiency of this Thirty-Fifth Supplemental Indenture or the Senior Notes. 

SECTION 2.03 Ratification and Incorporation of Original Indenture. 

As supplemented hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this Thirty-Fifth
Supplemental Indenture shall be read, taken and construed as one and the same instrument. 
 SECTION 2.04 Governing Law. 

This Thirty-Fifth Supplemental Indenture shall be deemed to be a contract made under the internal laws of the State of New York, and for all
purposes shall be construed in accordance with the laws of said State. 
 SECTION 2.05 Separability. 

In case any one or more of the provisions contained in this Thirty-Fifth Supplemental Indenture or in the Senior Notes shall for any reason be
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Thirty-Fifth Supplemental Indenture or of the Senior Notes, but this Thirty-Fifth Supplemental
Indenture and the Senior Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

  
 7 

 SECTION 2.06 Executed in Counterparts. 

This Thirty-Fifth 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. 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have
caused this Thirty-Fifth Supplemental Indenture to be duly executed by their respective officers thereunto duly authorized, all as of the day and year first above written. 

 

			
	 METLIFE, INC.,

as Issuer

		
	By:	 	 /s/ Lyndon Oliver

	Name:	 	Lyndon Oliver
	Title:	 	Executive Vice President and Treasurer
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as
Trustee
		
	By:	 	 /s/ Bruce C. Boyd

	Name:	 	Bruce C. Boyd
	Title:	 	Vice President

  
 [MetLife Senior Notes
Offering 2020 – Thirty-Fifth Supplemental Indenture] 

 EXHIBIT A 

(FORM OF 4.550% SENIOR NOTES DUE 2030) 

THIS SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE ORIGINAL INDENTURE HEREINAFTER REFERRED TO. UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”), A NEW YORK CORPORATION, TO METLIFE, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

EXCEPT AS OTHERWISE PROVIDED IN SECTION 1.05 OF THE THIRTY-FIFTH SUPPLEMENTAL INDENTURE, THIS SENIOR NOTE MAY BE TRANSFERRED IN WHOLE, BUT
NOT IN PART, ONLY TO DTC, TO ANOTHER NOMINEE OF DTC OR TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

  
 A-1 

							
	No. [●]	 		 		 	 CUSIP No.: 59156R BZ0
 ISIN No.:
US59156RBZ01

 METLIFE, INC. 

Global Certificate initially representing 

$[●] aggregate principal amount of 

4.550% Senior Notes due 2030 
  

			
	 Regular Record Date:
	  	With respect to each Interest Payment Date, the close of business on the preceding March 8 or September 8, as the case may be (whether or not a Business Day).
		
	 Original Issue Date:
	  	March 23, 2020
		
	 Stated Maturity:
	  	March 23, 2030
		
	 Interest Payment Dates:
	  	March 23 and September 23 of each year, commencing September 23, 2020
		
	 Interest Rate:
	  	4.550% per year
		
	 Authorized Denomination:
	  	$2,000, or any integral multiple of $1,000 in excess thereof.

 This Global Certificate is in respect of a duly authorized issue of 4.550% Senior Notes due 2030 (the
“Senior Notes”) of MetLife, Inc., a Delaware corporation (the “Company,” which term includes any successor corporation under the Indenture referred to on the reverse hereof). The Company, for value received, hereby
promises to pay to Cede & Co., or registered assigns, the amount of principal of the Senior Notes represented by this Global Certificate on the Stated Maturity shown above, and to pay interest thereon from the Original Issue Date shown
above, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on each Interest Payment Date as specified above, commencing September 23, 2020, and on the Stated Maturity at
the Interest Rate per year shown above until the principal hereof is paid or made available for payment and on any overdue principal and on any overdue installment of interest at such rate to the extent permitted by law. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date (other than an Interest Payment Date that is the Stated Maturity or any Redemption Date) will, as provided in the Indenture, be paid to the Person in whose name this Senior Note is
registered at the close of business on the Regular Record Date as specified above next preceding such Interest Payment Date, provided that any interest payable at Stated Maturity or on any Redemption Date will be paid to the Person to whom
principal is payable. Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the holders on such Regular Record Date and may be paid as provided in Section 2.03 of the Original Indenture.

 Payments of interest on this Senior Note will include interest accrued to but excluding the respective Interest Payment Dates. Interest
payments for this Senior Note shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. In the event that any date on which interest
is payable on this Senior Note is not a Business Day, then payment of the 

  
 A-2 

 
interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such
Business Day is in the next succeeding calendar year, payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the date the payment was originally payable. 

Payment of the principal of, and premium, if any, and interest due on this Senior Note at the Stated Maturity or upon redemption will be made
upon surrender of this Senior Note at the Corporate Trust Office of the Trustee in the Borough of Manhattan, The City of New York. The principal of, and premium, if any, and interest due on this Senior Note shall be paid in such coin or currency of
the United States of America as at the time of payment is legal tender for payment of public and private debts. Payment of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable and
subject to the Trustee’s arrangements with the Depositary, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, or (ii) by wire transfer
at such place and to such account at a banking institution in the United States of America as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the Person entitled thereto. 

The Senior Notes will be unsecured obligations of the Company and will rank equally in right of payment with all of the Company’s
existing and future unsecured and unsubordinated indebtedness. The Senior Notes will rank senior to any subordinated indebtedness of the Company. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SENIOR NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. 
 Unless the certificate of authentication hereon has been executed by the
Trustee by manual signature, this Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-3 

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

			
	METLIFE, INC.
		
	By:	 	  

	Name:	 	Lyndon Oliver
	Title:	 	Executive Vice President and
Treasurer

  

			
	Attest:	 	
	
	  

	Name:	 	Jeannette N. Pina
	Title:	 	Vice President and Secretary

  
 A-4 

 CERTIFICATE OF AUTHENTICATION 

This is one of the Senior Notes referred to in the within mentioned Indenture. 

 

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

		
	By:	 	  

		 	Authorized Signatory

 Dated: 

  
 A-5 

 REVERSE OF SENIOR NOTE 

1.    This Senior Note is one of a duly authorized issue of senior debt securities of the Company (the
“Securities”) issued and issuable in one or more series under an Indenture dated as of November 9, 2001 (the “Original Indenture”), as supplemented by the Thirty-Fifth Supplemental Indenture, dated as of
March 23, 2020 (the “Thirty-Fifth Supplemental Indenture,” and together with the Original Indenture, the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (as successor in
interest to J.P. Morgan Trust Company, National Association (as successor to Bank One Trust Company, N.A.)), as trustee (the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the holders of the Senior Notes issued thereunder and of the
terms upon which said Senior Notes are, and are to be, authenticated and delivered. This Senior Note is one of the series designated on the face hereof as the 4.550% Senior Notes due 2030, initially limited in aggregate principal amount of
$1,000,000,000; provided, however, that (subject to the provisions of the Thirty-Fifth Supplemental Indenture) the aggregate principal amount of the Senior Notes may be increased in the future with no limit, without the consent of the
holders of the Senior Notes, on the same terms and with the same CUSIP and ISIN numbers as the Senior Notes, except for the issue price, Original Issue Date and, if applicable, the first Interest Payment Date and the initial interest accrual date,
provided that no Event of Default with respect to the Senior Notes shall have occurred and be continuing. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Indenture. 

2.    This Senior Note is exchangeable in whole or, from time to time, in part for Senior Notes in definitive registered
form only as provided herein and in the Indenture. If (i) at any time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Senior Note or if at any time the Depositary shall no longer be
registered or in good standing as a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, at such time as the Depositary
is required to be so registered and the Depositary so notifies the Company and, in each case, the Company does not appoint a successor Depositary within 90 days after the Company receives such notice or becomes aware of such condition, as the case
may be, (ii) any Event of Default or Default has occurred and is continuing with respect to the Senior Notes or (iii) subject to the procedures of the Depositary, the Company in its sole discretion determines that this Senior Note shall be
exchangeable for Senior Notes in definitive registered form and executes and delivers to the Security Registrar a written order of the Company providing that this Senior Note shall be so exchangeable, this Senior Note shall be exchangeable for
Senior Notes in definitive registered form, provided that the definitive Senior Notes so issued in exchange for this Senior Note shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof and be of like aggregate
principal amount and tenor as the portion of this Senior Note to be exchanged. Except as provided above or in the Thirty-Fifth Supplemental Indenture, owners of beneficial interests in this Senior Note will not be entitled to have Senior Notes
registered in their names, will not receive or be entitled to physical delivery of Senior Notes in definitive registered form and will not be considered the holders thereof for any purpose under the Indenture. Neither the Company, the Trustee, any
Paying Agent nor the Security Registrar shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in this Senior Note, or for maintaining, supervising or
reviewing any records relating to such beneficial ownership interests. 

  
 A-6 

 3.    If an Event of Default with respect to the Senior Notes shall
occur and be continuing, the principal of the Senior Notes may be declared due and payable in the manner, with the effect and subject to the conditions provided in the Indenture. 

4.    The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of
the rights and obligations of the Company and the rights of the holders of the Securities under the Indenture at any time by the Company and the Trustee with the consent of the holders of not less than a majority in aggregate principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the holders of specified percentages in principal amount of the Senior Notes at the time Outstanding, on behalf of the holders of all
Senior Notes, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the holder of this Senior Note shall be conclusive and
binding upon such holder and upon all future holders of this Senior Note and of any Senior Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon
this Senior Note. 
 5.    The Indenture contains provisions for defeasance at any time of (a) the entire
indebtedness of the Company pursuant to this Senior Note and (b) restrictive covenants and the related Events of Default, upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Senior Note. 

6.    (a) At any time and from time to time prior to December 23, 2029 (the “Par Call Date”), this
Senior Note will be redeemable at the Company’s option, in whole or in part, at a redemption price equal to the greater of 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but excluding, such Redemption
Date and the “Make-Whole Redemption Amount” (as defined below). 
 (b)    At any time and from time to
time on or after the Par Call Date, this Senior Note will be redeemable at the Company’s option, in whole or in part, at a redemption price equal to 100% of the principal amount to be redeemed plus accrued and unpaid interest thereon to, but
excluding, such Redemption Date. 
 “Make-Whole Redemption Amount” means the sum, as calculated by the
Premium Calculation Agent, of the present values of the remaining scheduled payments of principal of and interest on the Senior Notes to be redeemed (assuming for such purposes that this Senior Note matures on the Par Call Date, and not including
any portion of those payments of interest accrued as of any Redemption Date), discounted from their respective scheduled payment dates to such Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points plus accrued and unpaid interest thereon to, but excluding, such Redemption Date. 

  
 A-7 

 For purposes of the preceding definition: 

(i) “Comparable Treasury Issue” means, with respect to any Redemption Date, the U.S. Treasury security
selected by the Premium Calculation Agent as having a maturity comparable to the term remaining from such Redemption Date to the Stated Maturity (the “Remaining Life”), that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Life. 

(ii) “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of five
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Premium Calculation Agent obtains fewer than five such Reference Treasury Dealer
Quotations, the average of all such quotations. 
 (iii) “Premium Calculation Agent” means an investment
banking institution of national standing appointed by the Company. 
 (v) “Reference Treasury Dealers” means
Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and their respective successors; provided, however, that if any of the foregoing
shall cease to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”) the Company will substitute therefor another Primary Treasury Dealer, and (2) any other Primary
Treasury Dealers selected by the Premium Calculation Agent after consultation with the Company. 
 (iv) “Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Premium Calculation Agent, of the bid and ask prices for the Comparable Treasury Issue (expressed,
in each case, as a percentage of its principal amount) quoted in writing to the Premium Calculation Agent by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

(v)    “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 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 will be calculated on the third Business Day preceding such Redemption Date. 

7.    The Trustee shall not be responsible for calculating the Redemption Price with respect to any redemption occurring
prior to the Par Call Date. 
 8.    If less than all of the Senior Notes are to be redeemed, the Trustee shall select
the Senior Notes or portions of Senior Notes to be redeemed by such method as the Trustee shall deem fair and appropriate. The Trustee may select for redemption Senior Notes and portions of Senior Notes in amounts of $1,000 and integral multiples of
$1,000 in excess thereof (provided that the 

  
 A-8 

 
unredeemed portion of any Senior Note to be redeemed in part will not be less than $2,000) and shall thereafter promptly notify the Company in writing of the numbers of Senior Notes to be
redeemed, in whole or in part; provided that if the Senior Notes are represented by one or more Global Securities, interests in such Global Securities shall be selected for redemption by the Depositary in accordance with its standard
procedures therefor. 
 9.    No reference herein to the Indenture and no provision of this Senior Note or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and premium, if any, and interest due on this Senior Note at the time, place and rate, and in the coin or currency, herein
prescribed. 
 10.    (a) As provided in the Indenture and subject to certain limitations therein set forth, the
transfer of this Senior Note is registrable in the Security Register, upon surrender of this Senior Note for registration of transfer at the office or agency of the Company for such purpose, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company or the Security Registrar and duly executed by, the holder hereof or his attorney duly authorized in writing, and thereupon one or more new Senior Notes, of authorized denominations and of like tenor
and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall be made for any such exchange or registration of transfer, but the Company will require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 (b)    Prior to due presentment of this
Senior Note for registration of transfer, the Company, the Trustee, any Paying Agent and the Security Registrar of the Company or the Trustee may deem and treat the Person in whose name this Senior Note is registered as the absolute owner hereof for
all purposes (subject to Section 1.03(a) of the Thirty-Fifth Supplement Indenture), whether or not this Senior Note be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Security Registrar, and
neither the Company nor the Trustee nor any Paying Agent nor the Security Registrar shall be affected by notice to the contrary. Except as provided in Section 1.03(a) of the Thirty-Fifth Supplemental Indenture, all payments of the principal of
and premium, if any, and interest due on this Senior Note made to or upon the order of the registered holder hereof shall, to the extent of the amount or amounts so paid, effectually satisfy and discharge liability for moneys payable on this Senior
Note. 
 (c)    The Senior Notes are issuable only in registered form without coupons in denominations of $2,000, or any
integral multiple of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Senior Notes are exchangeable for a like aggregate principal amount of Senior Notes of a different authorized
denomination, as requested by the holder surrendering the same upon surrender of the Senior Note or Senior Notes to be exchanged at the office or agency of the Company. 

11.    No recourse shall be had for payment of the principal of, or premium, if any, or interest on this Senior Note, or
for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor
corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof,
expressly waived and released. 

  
 A-9 

 12.    This Senior Note shall be deemed to be a contract made under the
internal laws of the State of New York, and for all purposes shall be construed in accordance with laws of said State. 

  
 A-10 

 ABBREVIATIONS 

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

					
	TEN COM - as tenants in common	 	UNIF GIFT MIN ACT - Custodian under Uniform Gift to Minors Act	 	
			
		 	                                    	 	
		 	(State)	 	

  

					
	TEN ENT	  	-	  	as tenants by the entireties
			
	JT TEN	  	-	  	 as joint tenants with right of
 survivorship and
not as tenants
 in common.

 Additional abbreviations may also be used though not on the above list. 

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

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

                          
                                         
                                         
                                         
                                         
                       

                          
                                         
                                         
                                         
                                         
                       

                          
                                         
                                         
                                         
                                (please insert Social 

Security or other identifying number of assignee) 

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

 

                          
                                         
                                         
                                         
                                         
                       

                          
                                         
                                         
                                         
                                         
                       

                          
                                         
                                         
                                         
                                

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

 

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

  
 A-11Exhibit 10.1

  

   

    

  
    	
            MICHAEL L. RAMSEY, District Attorney (State Bar No. 79166)

            MARC NOEL, Supervising Deputy District Attorney (State Bar No. 142558)

            JENNIFER DUPRE-TOKOS, Deputy District Attorney (State Bar No. 191480)

            Butte County District Attorney’s Office

            25 County Center Dr. #245

              Oroville, CA 95965

            Telephone:  (530) 538-7411

             

             

            Attorneys for the People

             

          	 	
            
              BRAD D. BRIAN (State Bar No. 79001)

              MICHAEL R. DOYEN (State Bar No. 119687)

              LISA J. DEMSKY (State Bar No. 186006)

              MUNGER, TOLLES & OLSON LLP

              350 South Grand Avenue

              Fiftieth Floor

              Los Angeles, California 90071-3426

              Telephone:  (213) 683-9100

            

             

            

            KATE DYER (State Bar No. 171891)

            CLARENCE, DYER & COHEN LLP

            899 Ellis Street

            San Francisco, California 94109-7807

            Telephone:  (415) 749-1800 

              

             

             

            Attorneys for Defendant 

            

          

    

    

    

    

    SUPERIOR COURT OF THE STATE OF CALIFORNIA

    

    

    COUNTY OF BUTTE

    

    

    

    

    	
            PEOPLE OF THE STATE OF CALIFORNIA,

             

             

            vs.

             

             

            PACIFIC GAS AND ELECTRIC COMPANY,

             

            Defendant.

             

          	 	
            Case No. 2OCF01422

             

             

            PLEA AGREEMENT AND SETTLEMENT

              

             

             

          

    

    

    

    THE PEOPLE OF THE STATE OF CALIFORNIA and the defendant Pacific Gas and Electric Company (the “Company” or “PG&E”), through its counsel Munger, Tolles & Olson LLP and Clarence, Dyer &
      Cohen LLP, hereby agree to this Plea and Settlement Agreement (the “Agreement”).  Subject to the conditions set forth in this Agreement, the Company agrees to
      enter a plea of guilty to eighty-four (84) counts of involuntary manslaughter in violation of Cal. Penal Code § 192(b), and one (1) count of unlawfully causing a fire in violation of Cal. Penal Code § 452 and will admit the special allegations
      pursuant to Cal. Penal Code §§ 452.1(a)(2),

     

    

    

    
      
        

    

    
     

    

    452.1(a)(3), 452.1(a)(4), as set forth in the indictment in the criminal prosecution of the Company, case number 2OCF01422.

     

    

    
      
        	I.	
                INTRODUCTION

              

      

    

    

    

    This Agreement is made and entered into between the People of the State of California (the “People”), currently represented by the District Attorney of Butte County (the “DA”) and the defendant, Pacific Gas and Electric  Company (the “Company” or the “PG&E”), currently represented by Munger, Tolles & Olson LLP and Clarence, Dyer & Cohen LLP.  The People and PG&E are individually referred to herein
      as “Party” and, collectively, as the “Parties.”

    1.          On January 29,
        2019, PG&E commenced a voluntary case under Chapter 11 of Title 11 of the United States Code (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Northern District of California (the “Bankruptcy Court”).

    2.          This Agreement is
        entered into to resolve the criminal prosecution of the Company, case number 2OCF01422, arising out of the November 8, 2018 wildfire in Butte County, California known as the “Camp Fire.”

    3.          The DA has
        determined that entering into this Agreement to resolve the prosecution of the Company is appropriate and in furtherance of justice based upon a totality of the circumstances and in light of the following:

    (a)          The Company’s acceptance of
        responsibility and agreement to enter the plea described below;

    (b)          The Company’s agreement to
        compensate victims of the Camp Fire, including through:

    (i)          The restructuring support agreement
        entered into on December 6, 2019, by PG&E, certain attorneys representing victims of the Camp Fire, the “Official Committee of Tort Claimants,” et al., and approved by the Bankruptcy Court on December 19, 2019, providing for, among other
        things, the establishment of a “Fire Victim Trust” to compensate victims of the Camp Fire and other wildfires, the payment by PG&E of approximately $13.5 billion in cash and equity, and the settlement, release, and satisfaction of

    

      

    
      2

      
        

    

     

      

    “Fire Victim Claims,” to be effected pursuant to PG&E’s Plan of Reorganization in the Chapter 11 Cases (as amended,
        supplemented, or otherwise modified, and to the extent applicable, confirmed by the United States Bankruptcy Court, the “Plan of Reorganization”);

    (ii)          The restructuring support agreement
        entered into on September 22, 2019, by PG&E and certain holders of subrogation claims and approved by the Bankruptcy Court on December 19, 2019, providing for, among other things, the payment by PG&E of $11 billion and the settlement,
        release, and satisfaction of “Subrogation Claims,” to be effected pursuant to the Plan of Reorganization; and

    (iii)          The agreements entered into by the
        Company and certain “Public Entities,” providing for payment by PG&E of $1 billion and the settlement, release, and satisfaction of “Public Entities Wildfire Claims,” including payments of approximately $270 million to the Town of Paradise,
        California, $252 million to Butte County, and $47.5 million to the Paradise Recreation and Park District, to be effected pursuant to the Plan of Reorganization.

    (c)          The Company’s
        cooperation with the DA’s investigation of the Camp Fire.

    (d)          The significant
        risk that a further criminal prosecution of the Company at this time could jeopardize the Company’s ability to pay victims pursuant to the agreements noted in sections I.3.b(i), (ii), and (iii) above, to be effected pursuant to the Plan of
        Reorganization, or to participate in the go-forward wildfire fund established by the State of California pursuant to 2019 Cal. Legis. Serv. Ch. 79 (A.B. 1054) (West).

     

    

    
      
        	II.	
                GUILTY PLEA AND SETTLEMENT

              

      

    

    

    

    The Company knowingly, intelligently, voluntarily, and with the advice of counsel agrees to the following terms:

    1.          Acceptance of Responsibility.  The Company acknowledges and accepts criminal responsibility for causing the Camp Fire.

    2.          Plea.  Subject to the terms of this Agreement and the promises of the People set forth herein, the Company agrees to plead guilty to eighty-four (84) counts of involuntary
        manslaughter in violation of Cal. Penal Code § 192(b) and one (1) count of unlawfully causing a 

     

    

    
      3

      
        

    

     

    

    fire in violation of Cal. Penal Code § 452 and admit the special allegations pursuant to Cal. Penal Code §§ 452.1(a)(2), 452.1(a)(3), 452.1(a)(4), as set
      forth in the indictment in the criminal action against the Company, case number 2OCF01422.

    3.          Factual basis.  The Company knowingly, intelligently, voluntarily, and with the advice of counsel, stipulates and agrees that there exists a sufficient factual basis for the
        Butte County Superior Court to accept the guilty plea described in section II.2. of this Agreement.

    4.          Agreed sentence.  The Parties agree that (i) the Company will be sentenced to pay the maximum total fine and penalty of not more than ($3,486,950.00), which amount includes
        (a) any applicable base fine, pursuant to Cal. Penal Code § 672, and (b) all related fees, penalties and assessments, and (ii) no other or additional sentence will be imposed on the Company in the criminal action against the Company, case number 2OCF01422.

    5.          Investigative costs.  The Company agrees to pay $500,000.00 to the Butte County District Attorney Environmental and Consumer Protection Trust Fund to reimburse costs spent on
        the investigation of the Camp Fire.

    6.          Restitution.  Nothing in this Agreement prejudices the rights of any of the heirs of the decedents specified in the indictment returned against the Company on March 17, 2020, in the criminal action against the Company, case number 2OCF01422, with respect to any claims filed on behalf of
        the decedents in the Chapter 11 Cases.  The People, by and through the DA further agree not to oppose any effort by the Company to seek the discharge of claims for restitution pursuant to Cal. Penal Code § 1202.4 in the Chapter 11 Cases made on the
        grounds that such claims are satisfied pursuant to the aforementioned agreements and the Plan of Reorganization.

    7.          Waiver and acknowledgment of rights.  The Company understands that it has certain constitutional rights including (a) the right to a speedy public jury trial at which it would
        be presumed innocent and could not be convicted unless twelve impartial jurors were convinced of its guilt beyond a reasonable doubt, (b) the right to confront witnesses and cross-examine witnesses, and (c) the right to produce evidence and issue
        subpoenas to bring into court all witnesses and evidence favorable to it.  The Company further understands that by pleading guilty, it is giving up

     

    

     

    

    
      4

      
        

    

     

    

     

    

     its right to a jury trial, its right to confront and cross-examine witnesses, and its right to produce evidence and witnesses on its own behalf.

    8.          Waiver of appeal.  Solely for the purpose of this Agreement and the entry of its guilty plea as provided herein, and provided that the Butte County Superior Court does not
        impose a sentence in addition to, or other than, as provided herein, the Company knowingly, intelligently, and voluntarily waives any right to appeal its plea of guilty or any agreed upon sentence.

    9.          Release.  Upon approval and acceptance of this Agreement by the Butte County Superior Court and the Bankruptcy Court, the People, by and through the DA, agree not to prosecute
        any criminal charges related to or arising out of the Camp Fire against the Company, PG&E Corporation, any wholly-owned subsidiaries thereof, and their respective successors and assigns, including PG&E Corporation and Pacific Gas and
        Electric Company, as reorganized pursuant to the Chapter 11 Cases.

    (a)          The People, by and through the DA,
        agree that the implementation of this Agreement will be in full and final satisfaction, release, and discharge of the proofs of claim filed by the People, by and through the DA, on October 17 and October 24, 2019 in the Chapter 11 Cases, Claims
        Nos. 57948, 59642, 65945, 87014, and 87021.  The People, by and through the DA, represent and acknowledge that the aforementioned proofs of claim are the only proofs of claim submitted by People in the Chapter 11 Cases.

    10.          Withdrawal of plea.  The Parties agree that the Company will be entitled to withdraw its guilty plea if:

    (a)          This Agreement is not approved and
        accepted by the Butte County Superior Court;

    (b)          Any obligation, including but not
        limited to fines, penalties, assessments, obligations to pay restitution pursuant to Cal. Penal Code § 1202.4 in addition to the settlements described in Section I of this Agreement, and non-monetary obligations, is imposed upon the Company in the
        criminal case against the Company, case number 2OCF01422, in addition to or other than the sentence agreed
        by the Parties as set forth in section II.4 of this Agreement; or

     

    

     

    

    
      5

      
        

    

     

    

    (c)          This Agreement is not approved by
        the Bankruptcy Court or the Plan of Reorganization is not confirmed by the Bankruptcy Court on or before June 30, 2020 or does not become effective in accordance with the terms thereof.

    Should the Company for any reason withdraw its plea, the indictment herein referenced shall remain.

    For the avoidance of doubt, nothing in this Agreement and this section II.10. is intended to or shall limit the Company’s right to
      withdraw its guilty plea as provided in Cal. Penal Code § 1192.5.

    11.          Waiver.  PG&E agrees to waive any objections or challenge to:

    (a)          Legality of Grand Jury including:

    (b)          Qualifications of Grand Jurors,
        Cal. Penal Code §§ 893, 894;

    (c)          Selection of Grand Jurors, Cal.
        Penal Code §§ 895-902;

    (d)          Impaneling of Grand Jury, Cal.
        Penal Code §§ 904-913;

    (e)          Conduct of Grand Jury
        Investigations, Cal. Penal Code §§ 939-939.1;

    (f)          Grand Jury Finding of the
        Indictment Cal. Penal Code §§ 940-945;

    (g)          PG&E specifically agrees to
        waive any objection/challenge based upon the Cal. Penal Code § 943 requirement that names of witnesses examined before the grand jury be inserted at the foot of the indictment;

    Provided that, for the avoidance of doubt, the waiver contained in this Section II.11 will not be binding on the Company in the
      event this Agreement is not accepted and approved by the Butte County Superior Court or the Bankruptcy Court or if the Company’s plea is withdrawn for any reason stated in Section II.10 above.

    

    

    
      
        	III.	
                MISCELLANEOUS PROVISIONS

              

      

    

    

    

    1.          Cooperation.  The Parties agree to cooperate in good faith and use their reasonable best efforts to obtain approval of this Agreement by the Bankruptcy Court and the Butte
        County Superior Court.  The Parties further agree to cooperate in good faith and use reasonable best efforts to incorporate the provisions of this Agreement into the Plan of Reorganization (or the order confirming the Plan of Reorganization).  The
        People agree not to 

     

    

    
      6

      
        

    

     

    

    object to, delay, impede, or take any other action to interfere with, acceptance, confirmation, or implementation of the Plan of Reorganization.

    
      7

      
        

    

    

    

    IT IS SO STIPULATED AND AGREED:

    

    

    
      	DATED:  3/17/2020

            	

              	 
	 	 	 	 
	

            	

            	/s/ MICHAEL L. RAMSEY, ESQ. 	 
	 	 	MICHAEL L. RAMSEY, ESQ.	 
	 	 	Butte County District Attorney	 
	 	 	

            	 
	 	 	For the People 

            	 

    

    

    

    

    

    

    

    
      	DATED:  3/17/2020

            	

            	 
	 	 	 	 
	 

            	
               

              

            	/s/ BRAD D. BRIAN, ESQ.  	 
	 	 	BRAD D. BRIAN, ESQ.	 
	 	 	MICHAEL R. DOYEN, ESQ.	 
	 	 	MUNGER, TOLLES & OLSON LLP	 
	 	 	 	 
	 	 	Counsel for PG&E

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