Document:

EX-4.1

 Exhibit 4.1 

Execution Version 

FIRST SUPPLEMENTAL INDENTURE, dated as of January 26, 2015, among Medtronic, Inc., a Minnesota corporation (the
“Company”), Medtronic plc (“New Medtronic”), a public limited company incorporated under the laws of Ireland and the parent of the Company, Medtronic Global Holdings, S.C.A. (“Medtronic Luxco” and,
together with New Medtronic, the “Guarantors”), a corporate partnership limited by shares (société en commandite par actions) organized under the laws of the Grand Duchy of Luxembourg and an
affiliate of the Company, and Wells Fargo Bank, National Association, a national banking association duly organized under the laws of the United States, as trustee (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of September 15, 2005 (the
“Base Indenture”), providing for the initial issuance of up to $1,000,000,000 aggregate principal amount of the Company’s $400,000,000 4.37% Senior Notes due 2010 and $600,00,000 4.75% Senior Notes Due due 2015 (herein and
therein collectively called the “Notes”);  
 WHEREAS, Section 9.01(11) of the Base Indenture permits the
Company and the Trustee, without the consent of any Noteholder, to enter into an indenture supplemental to the Base Indenture to make any changes that do not materially and adversely affect the rights of any Holder; and 

WHEREAS, pursuant to Section 9.01 of the Base Indenture, the Trustee is authorized to execute and deliver this First Supplemental
Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 
 SECTION 1.
Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Base Indenture and the rules of construction contained in the Base Indenture will apply equally to this First Supplemental
Indenture. 
 SECTION 2. Amendments to the Base Indenture. 

(a) The following definitions are added to Section 1.01 of the Base Indenture in alphabetical order: 

(i) “Guarantor” means any Affiliate of the Company that Guarantees the Notes in accordance with the terms of
this Indenture. 
 (ii) “Medtronic Luxco” means Medtronic Global Holding SCA, a corporate partnership
limited by shares (société en commandite par actions) organized under the laws of the Grand Duchy of Luxembourg. 

(iii) “New Medtronic” means Medtronic plc, an Irish public limited company. 

(iv) “Note Guarantee” means any Guarantee of the Notes that may from time to time be entered into by an
Affiliate of the Company. 
 (b) The following definitions in Section 1.01 of the Base Indenture are amended and restated to read as
follows: 

 (i) “Board of Directors” means, with respect to the Company,
either the board of directors of the Company, any duly authorized committee of that board or any other equivalent governing entity of the Company and, with respect to any Guarantor, the board of directors of such Guarantor, any duly authorized
committee of that board or any other equivalent governing entity of such Guarantor. 
 (ii) “Board
Resolution” means a resolution duly adopted by the Board of Directors which is certified by the Secretary or an Assistant Secretary, or any other authorized officer, manager or signatory, of the Company or any Guarantor, as the case may be,
and remains in full force and effect as of the date of its certification. 
 (iii) “Officers’
Certificate” means a certificate signed in the name of the Company or any Guarantor (i) by the chairman of the Board of Directors, the president or chief executive officer or a vice president, or any other authorized officer, manager
or signatory of the Company or any Guarantor and (ii) by the chief financial officer, the treasurer or any assistant treasurer or the secretary or any assistant secretary or any other authorized officer, manager or signatory, of the Company or
any Guarantor. 
 (iv) “Opinion of Counsel” means a written opinion signed by legal counsel, who may be an
employee of or counsel to the Company or any Guarantor, satisfactory to the Trustee. 
 (c) Section 6.11 of the Base Indenture is
amended to add “, any Guarantor” after each appearance of the word “Company”. 
 (d) Section 6.15 of the Base
Indenture is amended to add “and each Guarantor” after each appearance of the word “Company”. 
 (e) Section 9.01(8)
of the Base Indenture is amended to add “or any Guarantor” after each appearance of the word “Company”. 
 (f)
Section 9.01 of the Base Indenture is amended: 
 (i) to add “ or any Guarantor (with respect to a Guarantee or
this Indenture)” after the word “Company” in the first sentence thereof; 
 (ii) remove the “or” at
the end of clause 9.01(10); and 
 (iii) add the following immediately after clause 9.01(11): 

      “or 

(12) to add or release a Guarantor as required or permitted by this Indenture.” 

(g) The Base Indenture is amended to add the following immediately after Article 10: 

“ARTICLE 11 

GUARANTEES 

Section 11.01. Note Guarantee. 

(a) Subject to this Article 11, each of the Guarantors hereby, jointly and severally, irrevocably and unconditionally guarantees, on a senior
basis, to each Holder and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this 

 
Indenture, the Notes or the obligations of the Company hereunder or thereunder, that: (1) the principal of and premium, if any, and interest on the Notes shall be promptly paid in full when
due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder
shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid in
full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment by the Company when due of any amount so guaranteed or any performance so guaranteed for
whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

(b) The Guarantors hereby agree that their obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to
enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event
of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that this Note Guarantee shall not be discharged except by complete performance of the
obligations contained in the Notes and this Indenture, or pursuant to Section 11.06. 
 (c) If any Holder or the Trustee is required by
any court or otherwise to return to the Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to the Company or the Guarantors, any amount paid either to the Trustee or such Holder, this Note
Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 (d) Each Guarantor agrees that it shall not
be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one
hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Section 5.02 for the purposes of this Note Guarantee, notwithstanding any stay, injunction or
other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Section 5.02 such obligations (whether or not due
and payable) shall forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as
the exercise of such right does not impair the rights of the Holders under the Note Guarantees. 
 (e) Each Note Guarantee shall remain in
full force and effect and continue to be effective should any petition be filed by or against the Company for liquidation, reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver or
trustee be appointed for all or any significant part of the Company’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes
are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or the Note Guarantees, whether as a “voidable 

 
preference,” “fraudulent transfer” or otherwise, all as though such payment or performance had not been made. In the event that any payment or any part thereof, is rescinded,
reduced, restored or returned, the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 

(f) In case any provision of any Note Guarantee shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby. 
 (g) Each payment to be made by a Guarantor in respect of its
Note Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 

Section 11.02. Limitation on Guarantor Liability. 

Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note
Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Debtor Relief Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar U.S. federal or state law or law of such
Guarantor’s jurisdiction of organization (which shall be Irish law, in the case of New Medtronic, and Luxembourg law, in the case of Medtronic Luxco) to the extent applicable to any Note Guarantee. To effectuate the foregoing intention, the
Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such
Guarantor that are relevant under such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this
Article 11, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law. Each Guarantor that makes a payment under its Note Guarantee shall be entitled
upon payment in full of all Note Guarantee obligations under this Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on the respective net assets of all the
Guarantors at the time of such payment determined in accordance with GAAP. 
 Section 11.03. Execution and Delivery. 

(a) To evidence its Note Guarantee set forth in each Guarantor shall execute a supplemental indenture. 

(b) Each Guarantor that provides a Note Guarantee agrees that its Note Guarantee set forth in Section 11.01 shall remain in full force and
effect notwithstanding the absence of the endorsement of any notation of such Note Guarantee on the Notes. 
 (c) If an officer whose
signature is on this Indenture or a supplemental indenture no longer holds that office at the time the Trustee authenticates the Security, the Note Guarantees shall be valid nevertheless. 

(d) The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Note
Guarantee set forth in this Indenture on behalf of the Guarantors. 

 Section 11.04. Subrogation. 

Each Guarantor shall be subrogated to all rights of Holders against the Company in respect of any amounts paid by any Guarantor pursuant to
the provisions of Section 11.01; provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts
then due and payable by the Company under this Indenture or the Notes shall have been paid in full. 
 Section 11.05. Benefits
Acknowledged. 
 Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements
contemplated by this Indenture and that the guarantee and waivers made by it pursuant to its Note Guarantee are knowingly made in contemplation of such benefits. 

Section 11.06. Release of Note Guarantees. 

(a) A Note Guarantee by a Guarantor shall be automatically and unconditionally released and discharged, and such Note Guarantee shall thereupon
terminate and be discharged and of no further force and effect, and no further action by such Guarantor, the Company or the Trustee shall be required for the release of such Guarantor’s Note Guarantee: 

(1) (A) upon the merger or consolidation of such Guarantor with and into either the Company or any other Guarantor that is the
surviving person in such merger or consolidation, or upon the liquidation of such Guarantor following or concurrently with the transfer of all or substantially all of its assets to either the Company or another Guarantor (and, if applicable, any
minority stockholders of such Guarantor on a pro rata basis according to their ownership interests in such Guarantor); or 

(B) upon the Company exercising its legal defeasance or covenant defeasance options in accordance with Article 8 or the
Company’s obligations under this Indenture being discharged in accordance with the terms of this Indenture and the Notes; and 

(2) such Guarantor delivering to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for in this Indenture relating to such transaction have been complied with. 
 (b) At the written request and
expense of the Company or the relevant Guarantor, the Trustee shall execute and deliver such documents prepared by the Company or such Guarantor and reasonably required in order to acknowledge such release, discharge and termination in respect of
the applicable Note Guarantee. Neither the Company nor any Guarantor shall be required to make a notation on the Notes to reflect any Note Guarantee or any such release, termination or discharge.” 

SECTION 3. Note Guarantee. Each of New Medtronic and Medtronic Luxco, severally and not jointly, hereby agrees to be a Guarantor under
the Base Indenture, as amended and supplemented by this First Supplemental Indenture, and to be bound by the terms of the Base Indenture and the Notes applicable to Guarantors, including, but not limited to, Article 11 of the Base Indenture, as
amended and supplemented by this First Supplemental Indenture, and each Guarantor further agrees that this First Supplemental Indenture is the legal, valid and binding obligation of such Guarantor, enforceable against it in accordance with its
terms. 

 SECTION 4. Notice to Guarantors. Any request, demand, authorization, direction, notice,
consent waiver or Act of Holders or other document provided or permitted by this First Supplemental Indenture to be made upon, given or furnished to, or filed with: 

(a) the Trustee by any Holder or by the Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing
to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Division; 
 (b) New Medtronic by the Trustee or by an
Holder shall be sufficient for every purpose hereunder (unless otherwise expressly provided) if in writing and mailed, first-class postage pre-paid, to New Medtronic addressed to it at the following address: 

Medtronic plc 
 20 Lower Hatch
Street 
 Dublin 2 
 Ireland

 Attention: General Counsel 

with a copy to (which shall not constitute notice to New Medtronic): 

Medtronic, Inc. 
 710 Medtronic
Parkway 
 Minneapolis, Minnesota 55432 

Attention: General Counsel 
 (b)
Medtronic Luxco by the Trustee or by an Holder shall be sufficient for every purpose hereunder (unless otherwise expressly provided) if in writing and mailed, first-class postage pre-paid, to Medtronic Luxco addressed to it at the following address:

 Medtronic Global Holdings SCA 

1, rue du Potager 
 L-2347
Luxembourg 
 Luxembourg 

Attention: General Partner 

with a copy to (which shall not constitute notice to Medtronic Luxco): 

Medtronic, Inc. 
 710 Medtronic
Parkway 
 Minneapolis, Minnesota 55432 

Attention: General Counsel 

SECTION 5. Relationship to Existing Base Indenture. This First Supplemental Indenture is a supplemental indenture within the meaning of
the Base Indenture. The Base Indenture, as amended and supplemented by this First Supplemental Indenture, is in all respects ratified, confirmed and approved and, with respect to the Notes, the Base Indenture, as amended and supplemented by this
First Supplemental Indenture, shall be read, taken and construed as one and the same instrument. 
 SECTION 6. Foreign Account Tax
Compliance Act. This Seventh Supplemental Indenture has not resulted in a material modification of the Indenture and the Securities, including the Notes, for purposes of the Foreign Account Tax Compliance Act provisions of the Internal Revenue
Code. 

 SECTION 7. Governing Law. THIS FIRST SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND OF THE UNITED STATES. 
 SECTION 8. Headings. The headings of the
Sections of this First Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this First Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions
hereof. 
 SECTION 9. Counterparts. The parties may sign any number of copies of this First Supplemental Indenture. Each signed copy
shall be an original, but all of them together represent the same agreement. The exchange of copies of this First Supplemental Indenture and of signature pages by facsimile or .pdf transmission shall constitute effective execution and delivery of
this First Supplemental Indenture as to the parties hereto and may be used in lieu of the original First Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be their original
signatures for all purposes. 
 SECTION 10. Trustee. The Trustee shall not be responsible in any manner whatsoever for or in the
respect of the validity or sufficiency of this First Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company and the Guarantors, as the case may be. 

SECTION 11. Successors. All agreements of each of the Guarantors in this First Supplemental Indenture shall bind each of their
respective successors, except as otherwise provided in Section 11.01(f) of the Base Indenture, as amended and supplemented by this First Supplemental Indenture, or elsewhere in the Base Indenture or this First Supplemental Indenture. All
agreements of the Trustee in this First Supplemental Indenture shall bind its successors. 
 [Signature Page Follows] 

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

			
	MEDTRONIC, INC.,
		
	By:		 /s/ Gary L. Ellis

			Name: Gary L. Ellis
			Title: Executive Vice President,
			          Chief Financial Officer
		
	By:		 /s/ Linda Harty

			Name: Linda Harty
			Title: Vice President and Treasurer

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

					
	SIGNED AND DELIVERED as a Deed				
	 for and on behalf of 
 MEDTRONIC
PLC
 by its lawfully appointed attorney
 GARY L.
ELLIS
 in the presence of:
				
			
					 /s/ Gary L. Ellis

					Signature of Attorney
			
	 /s/ Althea Laska
				
	 (Witness’ Signature)
  

Althea Laska
				
	 (Witness’ Name)
  

710 Medtronic Parkway, Minneapolis, Minnesota
				
	 (Witness’ Address)
  

Exec. Assistant
				
	(Witness’ Occupation)				

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the
date first above written. 
 MEDTRONIC GLOBAL HOLDINGS S.C.A., 

as Guarantor 
 a Luxembourg corporate partnership limited by
shares (société en commandite par actions) 
 represented by 

Medtronic Global Holdings GP S.à r.l. 
 Its General
Partner, in turn acting by 
  

			
	By:		 /s/ Andrej Grossmann

	Name: Andrej Grossmann
	Title: Class A Manager
	
	AND
		
	By:		 /s/ Linda Harty

	Name: Linda Harty
	Title: Class B Manager

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

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:		 /s/ Raymond Delli Colli

	Name: Raymond Delli Colli
	Title: Vice PresidentEX-4.2

 Exhibit 4.2 

Execution Version 

SEVENTH SUPPLEMENTAL INDENTURE, dated as of January 26, 2015, among Medtronic, Inc., a Minnesota corporation (the
“Company”), Medtronic plc (“New Medtronic”), a public limited company incorporated under the laws of Ireland and the parent of the Company, Medtronic Global Holdings, S.C.A. (“Medtronic Luxco” and,
together with New Medtronic, the “Guarantors”), a corporate partnership limited by shares (société en commandite par actions) organized under the laws of the Grand Duchy of Luxembourg and an
affiliate of the Company, and Wells Fargo Bank, National Association, a national banking association duly organized under the laws of the United States, as trustee (the “Trustee”). 

W I T N E S S E T H 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture dated as of March 12, 2009 (the
“Base Indenture”), providing for the issuance from time to time of the Company’s debentures, notes or other evidences of indebtedness (herein and therein called the “Securities”), to be issued in one or more
series as provided in the Base Indenture; 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee a first
supplemental indenture dated as of March 12, 2009 (the “First Supplemental Indenture”), providing for the issuance of 4.50% notes due 2014, 5.60% notes due 2019 and 6.50% notes due 2039 (collectively, the “2009
Notes”); 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee a second supplemental indenture
dated as of March 16, 2010 (the “Second Supplemental Indenture”), providing for the issuance of 3.000% notes due 2015, 4.450% notes due 2020 and 5.550% notes due 2040 (collectively, the “2010 Notes”);

 WHEREAS, the Company has heretofore executed and delivered to the Trustee a third supplemental indenture dated as of
March 15, 2011 (the “Third Supplemental Indenture”), providing for the issuance of 2.625% notes due 2016 and 4.125% notes due 2021 (collectively, the “2011 Notes”); 

WHEREAS, the Company has heretofore executed and delivered to the Trustee a fourth supplemental indenture dated as of March 19,
2012 (the “Fourth Supplemental Indenture”), providing for the issuance of 3.125% notes due 2022 and 4.500% notes due 2042 (collectively, the “2012 Notes”); 

WHEREAS, the Company has heretofore executed and delivered to the Trustee a fifth supplemental indenture dated as of March 26,
2013 (the “Fifth Supplemental Indenture”) providing for the issuance of 1.375% notes due 2018, 2.750% notes due 2023 and 4.000% notes due 2043 (collectively, the “2013 Notes”); 

WHEREAS, the Company has heretofore executed and delivered to the Trustee a sixth supplemental indenture dated as of February 27,
2014 (the “Sixth Supplemental Indenture” and, together with the Base Indenture, the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth Supplemental Indenture and the Fifth
Supplemental Indenture, the “Indenture”) providing for the issuance of floating rate notes due 2017, 0.875% notes due 2017, 3.625% notes due 2024 and 4.625 notes due 2044 (the “2014 Notes” and, together with the
2009 Notes, the 2010 Notes, the 2011 Notes, the 2012 Notes and the 2013 Notes, the “Notes”);  

 WHEREAS, Section 9.01(i) of the Base Indenture permits the Company and the Trustee, without
the consent of any Holders, to enter into an indenture supplemental to the Base Indenture to make any provisions with respect to matters or questions arising under the Base Indenture, provided that such action shall not adversely affect the
interests of the Holders of Securities of any series; and 
 WHEREAS, pursuant to Section 9.01 of the Base Indenture, the Trustee is
authorized to execute and deliver this Seventh Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other
good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

SECTION 1. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture and the rules of construction contained in the Indenture will apply equally to this Seventh Supplemental Indenture. 
 SECTION 2.
Amendments to the Base Indenture. 
 (a) The following definitions are added to Section 1.01 of the Base Indenture in
alphabetical order: 
 (i) “Guarantor” means any Affiliate of the Company that Guarantees the Securities in
accordance with the terms of this Indenture. 
 (ii) “Medtronic Luxco” means Medtronic Global Holding SCA, a
corporate partnership limited by shares (société en commandite par actions) organized under the laws of the Grand Duchy of Luxembourg. 

(iii) “New Medtronic” means Medtronic plc, an Irish public limited company. 

(iv) “Note Guarantee” means any Guarantee of the Securities that may from time to time be entered into by an
Affiliate of the Company. 
 (b) The following definitions in Section 1.01 of the Base Indenture are amended and restated to read as
follows: 
 (i) “Board of Directors” means, with respect to the Company, either the board of directors of
the Company, any duly authorized committee of that board or any other equivalent governing entity of the Company and, with respect to any Guarantor, the board of directors of such Guarantor, any duly authorized committee of that board or any other
equivalent governing entity of such Guarantor. 
 (ii) “Board Resolution” means a copy of a resolution
certified by the Secretary or an Assistant Secretary, or any other authorized officer, manager or signatory, of the Company or any Guarantor to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such
certification, and delivered to the Trustee 
 (iii) “Officers’ Certificate” means a certificate signed
by the Chairman of the Board, President or Chief Executive Officer or a Vice President or any other authorized officer, manager or signatory, and by the Chief Financial Officer, the Treasurer or any Assistant Treasurer, the Secretary or an Assistant
Secretary or any other authorized officer, manager or signatory, of the Company or any Guarantor, and delivered to the Trustee. 

 (iv) “Opinion of Counsel” means a written opinion of
counsel, who may be an employee of or counsel for the Company or any Guarantor, and who shall be acceptable to the Trustee. 
 (c)
Section 5.09 of the Base Indenture is amended to add “, any Guarantor” after the word “Company”. 
 (d)
Section 5.15 of the Base Indenture is amended to add “and each Guarantor” after each appearance of the word “Company”. 

(e) Section 9.01 of the Base Indenture is amended to: 

(i) add “and any Guarantor (with respect to a Guarantee or this Indenture)” after the word “Company” in the
first sentence thereof; 
 (ii) remove the “or” at the end of clause 9.01(j); and 

(iii) add the following immediately after clause 9.01(k): “(l) to add or release a Guarantor as required or permitted by
this Indenture.” 
 (f) Section 9.01(a) is amended to add “or any Guarantor” after each appearance of the word
“Company.” 
 (g) Section 9.01(b) is amended to add “or any Guarantor” after each appearance of the word
“Company.” 
 (h) The Base Indenture is amended to add the following immediately after Article 13: 

“ARTICLE 14 

GUARANTEES 

Section 14.01. Note Guarantee. 

(a) Subject to this Article 14, each of the Guarantors, if any, hereby, jointly and severally, irrevocably and unconditionally
guarantees, on a senior basis, to each Holder and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Securities or the obligations of the Company hereunder or thereunder, that:
(1) the principal of and premium, if any, and interest on the Securities shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the
Securities, if any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (2) in case of
any extension of time of payment or renewal of any Securities or any of such other obligations, that same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by
acceleration or otherwise. Failing payment by the Company when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor
agrees that this is a guarantee of payment and not a guarantee of collection. 
 (b) The Guarantors hereby agree that their
obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Securities or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any
provisions hereof or thereof, the recovery of any judgment against the 

 
Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants
that this Note Guarantee shall not be discharged except by complete performance of the obligations contained in the Securities and this Indenture, or pursuant to Section 14.06. 

(c) If any Holder or the Trustee is required by any court or otherwise to return to the Company, the Guarantors or any
custodian, trustee, liquidator or other similar official acting in relation to the Company or the Guarantors, any amount paid either to the Trustee or such Holder, this Note Guarantee, to the extent theretofore discharged, shall be reinstated in
full force and effect. 
 (d) Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to
the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other
hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Section 5.02 for the purposes of this Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in
respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Section 5.02 such obligations (whether or not due and payable) shall forthwith become due and payable
by the Guarantors for the purpose of this Note Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights
of the Holders under the Note Guarantees. 
 (e) Each Note Guarantee shall remain in full force and effect and continue to be
effective should any petition be filed by or against the Company for liquidation, reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any
significant part of the Company’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Securities are, pursuant to applicable
law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Securities or the Note Guarantees, whether as a “voidable preference,” “fraudulent transfer” or otherwise, all as though such
payment or performance had not been made. In the event that any payment or any part thereof, is rescinded, reduced, restored or returned, the Securities shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such
amount paid and not so rescinded, reduced, restored or returned. 
 (f) In case any provision of any Note Guarantee shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

(g) Each payment to be made by a Guarantor in respect of its Note Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. 
 Section 14.02.
Limitation on Guarantor Liability. 
 Each Guarantor, and by its acceptance of Securities, each Holder, hereby
confirms that it is the intention of all such parties that the Note Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Debtor Relief Law, the 

 
Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar U.S. federal or state law or law of such Guarantor’s jurisdiction of organization (which shall be Irish
law, in the case of New Medtronic, and Luxembourg law, in the case of Medtronic Luxco) to the extent applicable to any Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that
the obligations of each Guarantor shall be limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws and after giving effect
to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this Article 14, result in the obligations of such Guarantor under its
Note Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law. Each Guarantor that makes a payment under its Note Guarantee shall be entitled upon payment in full of all Note Guarantee obligations under this
Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor’s pro rata portion of such payment based on the respective net assets of all the Guarantors at the time of such payment determined in accordance
with GAAP. 
 Section 14.03. Execution and Delivery. 

(a) To evidence its Note Guarantee set forth in each Guarantor shall execute a supplemental indenture. 

(b) Each Guarantor that provides a Note Guarantee agrees that its Note Guarantee set forth in Section 14.01 shall remain
in full force and effect notwithstanding the absence of the endorsement of any notation of such Note Guarantee on the Securities. 

(c) If an officer whose signature is on this Indenture or a supplemental indenture no longer holds that office at the time the
Trustee authenticates the Security, the Note Guarantees shall be valid nevertheless. 
 (d) The delivery of any Security by
the Trustee, after the authentication thereof hereunder, shall constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the Guarantors. 

Section 14.04. Subrogation. 

Each Guarantor shall be subrogated to all rights of Holders against the Company in respect of any amounts paid by any Guarantor
pursuant to the provisions of Section 14.01; provided that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until
all amounts then due and payable by the Company under this Indenture or the Securities shall have been paid in full. 

Section 14.05. Benefits Acknowledged. 

Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by
this Indenture and that the guarantee and waivers made by it pursuant to its Note Guarantee are knowingly made in contemplation of such benefits. 

Section 14.06. Release of Note Guarantees. 

(a) A Note Guarantee by a Guarantor shall be automatically and unconditionally released and discharged, and such Note Guarantee
shall thereupon terminate and be discharged and of no further force and effect, and no further action by such Guarantor, the Company or the Trustee shall be required for the release of such Guarantor’s Note Guarantee: 

 (1) (A) upon the merger or consolidation of such Guarantor with and into either
the Company or any other Guarantor that is the surviving person in such merger or consolidation, or upon the liquidation of such Guarantor following or concurrently with the transfer of all or substantially all of its assets to either the Company or
another Guarantor (and, if applicable, any minority stockholders of such Guarantor on a pro rata basis according to their ownership interests in such Guarantor); or 

(B) upon the Company exercising its legal defeasance or covenant defeasance options in accordance with Article 13 or the
Company’s obligations under this Indenture being discharged in accordance with the terms of this Indenture and the Securities; and 

(2) such Guarantor delivering to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent provided for in this Indenture relating to such transaction have been complied with. 
 (b) At the
written request and expense of the Company or the relevant Guarantor, the Trustee shall execute and deliver such documents prepared by the Company or such Guarantor and reasonably required in order to acknowledge such release, discharge and
termination in respect of the applicable Note Guarantee. Neither the Company nor any Guarantor shall be required to make a notation on the Securities to reflect any Note Guarantee or any such release, termination or discharge.” 

SECTION 3. Note Guarantee. Each of New Medtronic and Medtronic Luxco, severally and not jointly, hereby agrees to be a Guarantor under
the Indenture, as amended and supplemented by this Seventh Supplemental Indenture, and to be bound by the terms of the Indenture and the Securities, including the Notes, applicable to Guarantors, including, but not limited to, Article 14 of the
Indenture, as amended and supplemented by this Seventh Supplemental Indenture, and each Guarantor further agrees that this Seventh Supplemental Indenture is the legal, valid and binding obligation of such Guarantor, enforceable against it in
accordance with its terms. 
 SECTION 4. Notice to Guarantors. Any request, demand, authorization, direction, notice, consent waiver
or Act of Holders or other document provided or permitted by this First Supplemental Indenture to be made upon, given or furnished to, or filed with: 

(a) the Trustee by any Holder or by the Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing
to or with the Trustee at its Corporate Trust Office, Attention: Corporate Trust Division; 
 (b) New Medtronic by the Trustee or by an
Holder shall be sufficient for every purpose hereunder (unless otherwise expressly provided) if in writing and mailed, first-class postage pre-paid, to New Medtronic addressed to it at the following address: 

Medtronic plc 
 20 Lower Hatch
Street 
 Dublin 2 
 Ireland

 Attention: General Counsel 

with a copy to (which shall not constitute notice to New Medtronic): 

 Medtronic, Inc. 

710 Medtronic Parkway 

Minneapolis, Minnesota 55432 

Attention: General Counsel 
 (b)
Medtronic Luxco by the Trustee or by an Holder shall be sufficient for every purpose hereunder (unless otherwise expressly provided) if in writing and mailed, first-class postage pre-paid, to Medtronic Luxco addressed to it at the following address:

 Medtronic Global Holdings SCA 

1, rue du Potager 
 L-2347
Luxembourg 
 Luxembourg 

Attention: General Partner 

with a copy to (which shall not constitute notice to Medtronic Luxco): 

Medtronic, Inc. 
 710 Medtronic
Parkway 
 Minneapolis, Minnesota 55432 

Attention: General Counsel 

SECTION 5. Relationship to Existing Base Indenture. This Seventh Supplemental Indenture is a supplemental indenture within the meaning
of the Base Indenture. The Indenture, as amended and supplemented by this Seventh Supplemental Indenture, is in all respects ratified, confirmed and approved and, with respect to the Securities, including the Notes, the Indenture, as amended and
supplemented by this Seventh Supplemental Indenture, shall be read, taken and construed as one and the same instrument. 
 SECTION 6.
Foreign Account Tax Compliance Act. This Seventh Supplemental Indenture has not resulted in a material modification of the Indenture and the Securities, including the Notes, for purposes of the Foreign Account Tax Compliance Act provisions of
the Internal Revenue Code. 
 SECTION 7. Governing Law. THIS SEVENTH SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND OF THE UNITED STATES. 
 SECTION 9. Headings. The headings of the
Sections of this Seventh Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Seventh Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions
hereof. 
 SECTION 9. Counterparts. The parties may sign any number of copies of this Seventh Supplemental Indenture. Each signed
copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Seventh Supplemental Indenture and of signature pages by facsimile or .pdf transmission shall constitute effective execution and
delivery of this Seventh Supplemental Indenture as to the parties hereto and may be used in lieu of the original Seventh Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or .pdf shall be deemed to be
their original signatures for all purposes. 
 SECTION 10. Trustee. The Trustee shall not be responsible in any manner whatsoever for
or in the respect of the validity or sufficiency of this Seventh Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company and the Guarantors, as the case may be. 

 SECTION 11. Successors. All agreements of each of the Guarantors in this Seventh
Supplemental Indenture shall bind each of their respective successors, except as otherwise provided in Section 14.01(f) of the Indenture, as amended and supplemented by this Seventh Supplemental Indenture, or elsewhere in the Indenture or this
Seventh Supplemental Indenture. All agreements of the Trustee in this Seventh Supplemental Indenture shall bind its successors. 
 [Signature
Page Follows] 

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

			
	MEDTRONIC, INC.,
		
	By:		/s/ Gary L. Ellis
			Name: Gary L. Ellis
			 Title: Executive Vice President,

  Chief Financial Officer

		
	By:		/s/ Linda Harty
			Name: Linda Harty
			Title: Vice President and Treasurer

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

			
	 SIGNED AND DELIVERED as a Deed
 for and
on behalf of
 MEDTRONIC PLC
 by its lawfully appointed
attorney
 GARY L. ELLIS
 in the presence of:
		
			 /s/ Gary L. Ellis

		Signature of Attorney
	 /s/ Althea Laska
	
	(Witness’ Signature)	
		
	 Althea Laska
	
	(Witness’ Name)	
		
	 710 Medtronic Parkway, Minneapolis, Minnesota
	
	(Witness’ Address)		
			
	 Exec. Assistant
		
	(Witness’ Occupation)		

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the
date first above written. 
 MEDTRONIC GLOBAL HOLDINGS S.C.A., 

as Guarantor 
 a Luxembourg corporate partnership limited by
shares (société en commandite par actions) 
 represented by 

Medtronic Global Holdings GP S.à r.l. 
 Its General
Partner, in turn acting by 
  

			
	By:		 /s/ Andrej Grossmann

	Name: Andrej Grossmann
	Title: Class A Manager
	
	AND
		
	By:		 /s/ Linda Harty

	Name: Linda Harty
	Title: Class B Manager

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

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:		 /s/ Raymond Delli Colli

	Name: Raymond Delli Colli
	Title: Vice President

  
 3

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