Document:

Exhibit 4.01

 

AGILENT TECHNOLOGIES, INC.

(as Obligor)

 

and

 

U.S. BANK NATIONAL ASSOCIATION

(as Trustee)

 

Fourth Supplemental Indenture

 

Dated as of July 20, 2010

 

2.50% Senior Notes due 2013

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
  ARTICLE I

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEFINITIONS

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 1.01.

  	
  Definitions

  	
  1

  
	
   

  	
   

  	
   

  
	
   

  	
  ARTICLE II

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TERMS OF THE NOTES

  	
   

  
	
   

  	
   

  	
   

  
	
  Section
  2.01.

  	
  Title

  	
  4

  
	
  Section
  2.02.

  	
  Aggregate
  Principal Amount

  	
  4

  
	
  Section
  2.03.

  	
  Maturity

  	
  4

  
	
  Section
  2.04.

  	
  Interest

  	
  4

  
	
  Section
  2.05.

  	
  Place
  of Payment

  	
  4

  
	
  Section
  2.06.

  	
  Optional
  Redemption

  	
  4

  
	
  Section
  2.07.

  	
  Change
  of Control Repurchase

  	
  6

  
	
  Section
  2.08.

  	
  Issue
  Date

  	
  7

  
	
  Section
  2.09.

  	
  Issue
  Price

  	
  7

  
	
  Section
  2.10.

  	
  Definitive
  and Global Notes

  	
  7

  
	
  Section
  2.11.

  	
  Denomination

  	
  7

  
	
  Section
  2.12.

  	
  Further
  Issuances

  	
  7

  
	
  Section
  2.13.

  	
  Defeasance
  and Discharge of Covenants upon Deposit of Moneys, U.S. Government
  Obligations

  	
  7

  
	
  Section
  2.14.

  	
  Events
  of Default

  	
  7

  
	
  Section
  2.15.

  	
  Limitation
  on Liens

  	
  8

  
	
  Section
  2.16.

  	
  Effect
  of Supplemental Indentures

  	
  8

  
	
   

  	
   

  	
   

  
	
  Exhibit
  A

  	
   Form
  of Senior Note

  	
   

  

 

ii

 

THIS
FOURTH SUPPLEMENTAL INDENTURE, between Agilent Technologies, Inc., a Delaware
corporation (the “Obligor”), having its principal office at 5301  Stevens
Creek Blvd., Santa Clara, California 95051, and U.S. Bank National
Association, as trustee (the “Trustee”), is made and entered into as of this
20th day of July, 2010.

 

RECITALS OF THE OBLIGOR

 

WHEREAS,
the Obligor and the Trustee executed and delivered an Indenture dated as of
October 24, 2007 (the “Indenture”), to provide for the issuance by the Obligor
from time to time of debt securities;

 

WHEREAS,
capitalized terms used herein, not otherwise defined, shall have the same
meanings given them in the Indenture;

 

WHEREAS,
pursuant to a board resolution, the Obligor has authorized the issuance of $250
million of its 2.50% Senior Notes due 2013 (the “Senior Notes”); and

 

WHEREAS,
the Obligor desires to establish the terms of the Senior Notes in accordance
with Section 2.01 of the Indenture;

 

NOW,
THEREFORE, it is mutually agreed as follows:

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.01.
Definitions. For all purposes of this Fourth Supplemental Indenture,
except as otherwise expressly provided or unless the context otherwise
requires:

 

“Change
of Control” means the occurrence of any of the following: (1) the direct or
indirect sale, transfer, conveyance or other disposition (other than by way of
merger or consolidation), in one or a series of related transactions, of all or
substantially all of the properties or assets of the Obligor and its
Subsidiaries taken as a whole to any “person” (as that term is used in Section
13(d) and Section 14(d) of the Exchange Act) other than the Obligor or one of
its Subsidiaries; (2) the adoption of a plan relating to the Obligor’s
liquidation or dissolution; (3) the consummation of any transaction (including,
without limitation, any merger or consolidation) the result of which is that
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) or
group of persons, other than the Obligor or its Subsidiaries, becomes the
beneficial owner (as defined in Rules 13d-3 and 13d-5 of the Exchange Act),
directly or indirectly, of more than 50% of the combined voting power of the
Obligor’s Voting Stock or other Voting Stock into which the Obligor’s Voting
Stock is reclassified, consolidated, exchanged or changed, measured by voting
power rather than number of shares; or (4) the first day on which a majority of
the members of the Obligor Board are not Continuing Directors.

 

“Change
of Control Repurchase Event” means the occurrence of both a Change of
Control and a Ratings Event.

 

“Comparable
Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity
comparable to the remaining term of the Senior Notes to be redeemed that would
be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Senior Notes.

 

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

 

1

 

“Continuing
Directors” means, as of any date of determination, any member of the
Obligor Board who (1) was a member of the Obligor Board on the date of the
issuance of the Senior Notes; or (2) was nominated for election or elected
to the Obligor Board with the approval of a majority of the Continuing
Directors who were members of the Obligor Board at the time of such nomination
or election.

 

“First
Supplemental Indenture” means the First Supplemental Indenture dated as of
October 29, 2007 to the Indenture between the Obligor and the Trustee, as
amended or supplemented from time to time.

 

“Fitch”
means Fitch Ratings Ltd. and its successors.

 

“Fourth
Supplemental Indenture” means this Fourth Supplemental Indenture to the
Indenture, as amended or supplemented from time to time.

 

“Indenture”
has the meaning assigned in the recitals.

 

“Independent
Investment Banker” means Banc of America Securities LLC, Barclays Capital
Inc. or Credit Suisse Securities (USA) LLC, or their respective successors as
may be appointed from time to time by the Obligor; provided, however,
that if any of the foregoing ceases to be a primary U.S. Government securities
dealer in New York City (a “primary treasury dealer”), the Obligor shall
substitute another primary treasury dealer.

 

“Investment
Grade” means a rating of BBB- or better by Fitch (or its equivalent under
any successor rating categories of Fitch); a rating of Baa3 or better by Moody’s
(or its equivalent under any successor Rating Categories of Moody’s); a rating
of BBB- or better by S&P (or its equivalent under any successor Rating
Categories of S&P); and the equivalent investment grade credit rating from
any additional Rating Agency or Rating Agencies selected by the Obligor.

 

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

 

“Obligor
Board” means the board of directors of the Obligor.

 

“Rating
Agency” means each of Fitch, Moody’s and S&P, so long as such entity
makes a rating of the notes publicly available; provided, however, if any
of Fitch, Moody’s or S&P ceases to rate the notes or fails to make a rating
of the notes publicly available for reasons outside of the control of the
Obligor, the Obligor shall be allowed to designate a “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-l(e)(2)(vi)(F)
under the Exchange Act (as certified by a resolution of the board of
directors of the Obligor) as a replacement agency for the agency that ceased to
make such a rating publicly available. 
For the avoidance of doubt, failure by the Obligor to pay rating agency
fees to make a rating of the notes shall not be a “reason outside of the
control of the Obligor” for the purposes of the preceding sentence.

 

 “Rating Category” means (i) with
respect to S&P, any of the following categories: BBB, BB, B, CCC, CC, C and
D (or equivalent successor categories); (ii) with respect to Moody’s, any
of the following categories: Baa, Ba, B, Caa, Ca, C and D (or equivalent
successor categories); (iii) with respect to Fitch, any of the following
categories: BBB, BB, B, CCC, CC, C and D (or equivalent successor categories);
and (iv) the equivalent of any such category of S&P, Moody’s or Fitch used
by another Rating Agency. In determining whether the rating of the Senior Notes
has decreased by one or more gradations, gradations within Rating Categories (+
and - for S&P or Fitch; 1, 2 and 3 for Moody’s; or the equivalent
gradations for another Rating Agency) shall be taken into account (e.g., with
respect to S&P or Fitch, a decline in a rating from BB+ to BB, as well as
from BB- to B+, shall constitute a decrease of one gradation).

 

“Ratings
Event” means a decrease in the ratings of the Senior Notes by one or more
of the Rating Agencies such that the Senior Notes are rated below Investment
Grade by all of the Rating Agencies on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end
of the 60-day period following public notice of the occurrence of a Change of
Control (which period shall be extended so long as the rating of the Senior
Notes is under publicly announced consideration for possible downgrade by any
of the Rating Agencies).

 

2

 

Notwithstanding
the foregoing, a Ratings Event otherwise arising by virtue of a particular
reduction in rating shall not be deemed to have occurred in respect of a
particular Change of Control (and thus shall not be deemed a Ratings Event for
purposes of the definition of Change of Control Repurchase Event hereunder) if
the Rating Agencies making the reduction in rating to which this definition
would otherwise apply do not announce or publicly confirm or inform the Trustee
in writing at its request that the reduction was the result, in whole or in
part, of any event or circumstance comprised of or arising as a result of, or
in respect of, the applicable Change of Control (whether or not the applicable
Change of Control shall have occurred at the time of the Ratings Event).

 

“Reference
Treasury Dealer” means Banc of America Securities LLC, Barclays Capital
Inc. or Credit Suisse Securities (USA) LLC, and one other primary treasury
dealer selected by the Obligor, and each of their respective successors and any
other primary treasury dealers selected by the Obligor.

 

“Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the
Trustee, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in
writing to the Trustee by such Reference Treasury Dealer as of 5:00 p.m., New
York City time, on the third Business Day preceding such Redemption Date.

 

“Remaining
Scheduled Payments” means, with respect to any Senior Note to be redeemed,
the remaining scheduled payments of the principal thereof and interest thereon
that would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date
with respect to such Senior Note, the amount of the next scheduled interest
payment thereon shall be reduced by the amount of interest accrued thereon to
such Redemption Date.

 

“Second
Supplemental Indenture” means the Second Supplemental Indenture dated as of
September 14, 2009 to the Indenture between the Obligor and the Trustee, as
amended or supplemented from time to time.

 

“Senior
Notes” has the meaning assigned in the Recitals.

 

“S&P”
means Standard & Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc., and its successors.

 

“Third
Supplemental Indenture” means the Third Supplemental Indenture dated as of
September 14, 2009 to the Indenture between the Obligor and the Trustee, as
amended or supplemented from time to time.

 

“Treasury
Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to Maturity (computed as of the third
Business Day immediately preceding that Redemption Date) of the Comparable
Treasury Issue. In determining this rate, the Obligor shall assume 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.

 

“Voting
Stock” of any specified Person as of any date means the capital stock of
such Person that is at the time entitled to vote generally in the election of
the board of directors of such Person.

 

3

 

ARTICLE II

 

TERMS OF THE NOTES

 

SECTION 2.01.
Title. The Senior Notes shall constitute a series of Notes having the
title “2.50% Senior Notes due 2013” that shall be in the form attached as
Exhibit A.

 

SECTION 2.02.
Aggregate Principal Amount. The aggregate principal amount of the Senior
Notes that may be authenticated and delivered under this Fourth Supplemental
Indenture shall be unlimited; provided that the Obligor complies with
the provisions of this Fourth Supplemental Indenture.

 

SECTION 2.03.
Maturity. The entire outstanding principal amount of the Senior Notes
shall be payable on July 15, 2013.

 

SECTION 2.04.
Interest. The Senior Notes shall accrue interest at a rate of 2.50% per
year. Interest shall accrue on the Senior Notes from the most recent Interest
Payment Date to or for which interest has been paid or duly provided for (or if
no interest has been paid or duly provided for, from the Issue Date of the
Senior Notes), payable semiannually in arrears on January 15 and July 15 of
each year, beginning on January 15, 2011. The Record Dates for payment of
interest shall be December 31 and June 30 of each year, beginning December 31,
2010. Interest on overdue principal and premium, if any, from time to time,
shall be at a rate of 2% per annum in excess of the rate then in effect;
interest on overdue installments of interest, if any, from time to time, shall
be at the same rate, to the extent lawful.

 

SECTION 2.05.
Place of Payment. The place where the principal of (and premium, if any)
and interest, if any, with respect to the Senior Notes shall be payable shall
be the Corporate Trust Office.

 

SECTION 2.06.
Optional Redemption. (a) The Obligor may redeem the Senior Notes at its
option at any time in whole or in part. If the Obligor elects to redeem the
Senior Notes, it shall pay a Redemption Price equal to the greater of the following
amounts, plus, in each case, accrued and unpaid interest thereon to, but not
including, the Redemption Date:

 

(i) 100% of the aggregate principal amount of the Senior Notes to be
redeemed on the Redemption Date; or

 

(ii) the sum of the present values of the Remaining Scheduled Payments.
In determining the present values of the Remaining Scheduled Payments, the
Obligor shall discount such payments to the Redemption Date on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at a
discount rate equal to the Treasury Rate plus 25 basis points.

 

Any
redemption pursuant to this Section 2.06(a) shall be made pursuant to the
provisions of Section 2.06(b) through (i) below.

 

(b)
If the Obligor elects to redeem the Senior Notes pursuant to the optional
redemption provisions of Section 2.06(a) above, it shall furnish to the
Trustee, at least 45 days (or such shorter period as shall be acceptable to the
Trustee, but in no event less than 30 days) but not more than 60 days before
the Redemption Date, an Officers’ Certificate setting forth (1) the Redemption
Date, and (2) the CUSIP and/or ISIN numbers of the Senior Notes.

 

(c)
If fewer than all the Senior Notes are to be redeemed, the particular Senior
Notes to be redeemed shall be selected not more than 60 days prior to the
Redemption Date by the Trustee from the Outstanding Senior Notes not previously
called for redemption, pro rata, by lot or by such other method as the Trustee
shall deem fair and appropriate, and may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for the
Senior Notes or any integral multiple thereof) of the principal amount of
Senior Notes of a denomination larger than the minimum authorized denomination
for the Senior Notes.

 

4

 

(d)
The Trustee shall promptly notify the Obligor in writing of the Senior Notes
selected for redemption and, in the case of any Senior Notes selected for
partial redemption, the principal amount thereof to be redeemed.

 

(e)
For all purposes of this Fourth Supplemental Indenture, unless the context
otherwise requires, all provisions relating to the redemption of Senior Notes
shall relate, in the case of any Senior Note redeemed or to be redeemed only in
part, to the portion of the principal of such Senior Note which has been or is
to be redeemed.

 

(f)
Notice of redemption of Senior Notes to be redeemed, either in whole or in
part, shall be given to the Holders thereof at the option of the Obligor, by first-class
mail, postage prepaid, mailed not fewer than 30 nor more than 60 days
prior to the Redemption Date, to each such Holder at such Holder’s last address
appearing in the Security Register. All notices of redemption shall state:

 

(i) the Redemption Date;

 

(ii) the Redemption Price, or if not then ascertainable, the manner of
calculating the Redemption Price;

 

(iii) if fewer than all Outstanding Senior Notes are to be redeemed,
the identification (and, in the case of partial redemption, the respective
principal amounts) of the Senior Notes to be redeemed from the Holder to whom
the notice is given and that on and after the Redemption Date, upon surrender
of such Senior Note, a new Senior Note or Senior Notes in the aggregate
principal amount equal to the unredeemed portion thereof shall be issued in
accordance with Section 2.06(i);

 

(iv) that on the Redemption Date the Redemption Price shall become due
and payable upon each Senior Note called for redemption, and that interest, if
any, thereon shall cease to accrue from and after said date;

 

(v) the place where Senior Notes called for redemption are to be
surrendered for payment of the Redemption Price, which shall be the office or
agency maintained by the Obligor pursuant to Section 9.02 of the Indenture;

 

(vi) the name and address of the Paying Agent;

 

(vii) that the Senior Notes called for redemption must be surrendered
to the Paying Agent to collect the Redemption Price; and

 

(viii) the CUSIP and/or ISIN number, and that no representation is made
as to the correctness or accuracy of the CUSIP and/or ISIN number, if any,
listed in such notice or printed on the Senior Notes.

 

Notice
of redemption of Senior Notes shall be given by the Obligor or, at the Obligor’s
request, by the Trustee in the name and at the expense of the Obligor; provided,
however, that if the Obligor requests the Trustee to give such notice,
it shall provide an execution version of such notice to the Trustee at least
five Business Days before such notice is required to be sent.

 

(g)
On or prior to 10 a.m., New York City time, on any Redemption Date, the Obligor
shall deposit with the Trustee or with a Paying Agent (or, if the Obligor is
acting as its own Paying Agent, segregate and hold in trust as provided in
Section 9.03 of the Indenture) an amount of money sufficient to pay the
Redemption Price of, and accrued interest on, all the Senior Notes which are to
be redeemed on that date.

 

5

 

(h)
Notice of redemption having been given as aforesaid, the Senior Notes (or
portions thereof) so to be redeemed shall, on the Redemption Date, become due
and payable at the Redemption Price plus accrued and unpaid interest to the
Redemption Date therein specified, and from and after such date (unless the Obligor
shall default in the payment of the Redemption Price) such Senior Notes shall
cease to bear interest. Upon surrender of such Senior Notes for redemption in
accordance with the notice, such Senior Notes shall be paid by the Obligor at
the Redemption Price. Any installment of interest due and payable on or prior
to the Redemption Date shall be payable to the Holders of such Senior Notes
registered as such on the relevant Record Date according to the terms and the
provisions of Section 2.06 of the Indenture. If any Senior Note called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal shall, until paid, bear interest from the Redemption Date at the rate
prescribed therefor by the Senior Note.

 

(i)
Any Senior Note that is to be redeemed only in part shall be surrendered at the
office or agency maintained by the Obligor pursuant to Section 9.02 of the
Indenture (with, if the Obligor or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Obligor and the
Trustee duly executed by, the Holder thereof or the Holder’s attorney duly
authorized in writing) and the Obligor shall execute and the Trustee shall
authenticate and deliver to the Holder of such Senior Note without service
charge and at the expense of the Obligor, a new Senior Note or Senior Notes, of
any authorized denomination as requested by such Holder in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of
such Senior Note so surrendered.

 

SECTION 2.07.
Change of Control Repurchase. (a) If a Change of Control Repurchase
Event occurs, unless the Obligor has exercised its right to redeem the Senior
Notes as set forth in Section 2.06, the Obligor shall be required to make an
offer to each Holder of the Senior Notes to repurchase all or any part (in
excess of $2,000 and in integral multiples of $1,000) of that Holder’s Senior
Notes at a repurchase price in cash equal to 101% of the aggregate principal
amount of the Senior Notes repurchased plus any accrued and unpaid interest on
the Senior Notes repurchased to, but not including, the date of repurchase.

 

(b)
Within 30 days following any Change of Control Repurchase Event or, at the
option of the Obligor, prior to any Change of Control, but after the public
announcement of the Change of Control, the Obligor shall mail a notice to each
Holder, with a copy to the Trustee, describing the transaction or transactions
that constitute or may constitute the Change of Control Repurchase Event and
offering to  repurchase the Senior Notes
on the payment date specified in the notice, which date shall be no earlier
than 30 days and no later than 60 days from the date such notice is mailed. The
notice shall, if mailed prior to the date of consummation of the Change of
Control, state that the offer to purchase is conditioned on a Change of Control
Repurchase Event occurring on or prior to the payment date specified in the
notice.

 

(c)
The Obligor shall comply with the requirements of Rule 14e-1 under the Exchange
Act, and any other securities laws and regulations to the extent those laws and
regulations are applicable in connection with the repurchase of the Senior
Notes as a result of a Change of Control Repurchase Event. To the extent that the
provisions of any securities laws or regulations conflict with this
Section 2.07, the Obligor shall comply with the applicable securities laws
and regulations and shall not be deemed to have breached its obligations under
this Section 2.07 by virtue of compliance with such securities laws or
regulations.

 

(d)
On the repurchase date following a Change of Control Repurchase Event, the
Obligor shall, to the extent lawful:

 

(i) accept for payment all the Senior Notes or portions of the Senior
Notes properly tendered pursuant to its offer;

 

(ii) deposit with the Paying Agent an amount equal to the aggregate
purchase price in respect of all the Senior Notes or portions of the Senior
Notes properly tendered; and

 

(iii) deliver or cause to be delivered to the Trustee the Senior Notes
properly accepted, together with an Officer’s Certificate stating the aggregate
principal amount of Senior Notes being purchased by the Obligor.

 

6

 

(e)
The Paying Agent shall promptly mail to each Holder of Senior Notes properly
tendered the purchase price for the Senior Notes, and the Trustee shall
promptly authenticate and mail (or cause to be transferred by book-entry) to
each Holder a new Senior Note equal in principal amount to any unpurchased
portion of any Senior Notes surrendered.

 

(f)
The Obligor shall not be required to make an offer to repurchase the Senior
Notes upon a Change of Control Repurchase Event if a third party makes such an
offer in the manner, at the times and otherwise in compliance with the
requirements for an offer made by the Obligor and such third party purchases
all Senior Notes properly tendered and not withdrawn under its offer.

 

(g)
Should the Obligor choose to exercise its rights under Section 3.02 of the
Indenture, it shall no longer be obligated to make an offer to repurchase the
Senior Notes following a Change of Control Repurchase Event.

 

SECTION 2.08.
Issue Date. The Issue Date of the Senior Notes is July 13, 2010.

 

SECTION 2.09.
Issue Price. The issue price of the Senior Notes is 99.815% of the
aggregate principal amount of the Senior Notes.

 

SECTION 2.10.
Definitive and Global Notes. The Senior Notes are issuable in whole or
in part in the form of Definitive Notes or as one or more Global Notes and the
Depositary for such Global Notes shall be DTC.

 

SECTION 2.11.
Denomination. The Senior Notes shall be issued in registered form in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

SECTION 2.12.
Further Issuances. The Obligor may issue an unlimited principal amount
of additional Senior Notes; provided that, any such additional Senior
Notes shall have identical terms as the outstanding Senior Notes, other than
with respect to the date of issuance, issue price, first Interest Payment Date,
interest accrual date and amount of interest payable on the first Interest
Payment Date applicable thereto; provided, further, that any such
additional Senior Notes shall be treated as a single class with the outstanding
Senior Notes for all purposes under this Fourth Supplemental Indenture and the
Indenture.

 

SECTION 2.13.
Defeasance and Discharge of Covenants upon Deposit of Moneys, U.S.
Government Obligations. (a) Sub-clause (b) of the first paragraph of
Section 3.02 of the Indenture is hereby supplemented to add after “9.07”
thereof:

 

“and
Section 2.07 of the Fourth Supplemental Indenture, dated July 20, 2010,
between the Obligor and the Trustee”

 

(b)
The last sentence of the third to last paragraph of Section 3.02 of the
Indenture is hereby supplemented to add to the end thereof: “and the Obligor
shall no longer be obligated to make an offer to repurchase Senior Notes under
Section 2.07 of the Fourth Supplemental Indenture upon the occurrence of a
Change of Control (as defined in the Fourth Supplemental Indenture, dated July
20, 2010, between the Obligor and the Trustee).”

 

SECTION 2.14.
Events of Default. In addition to the Events of Default set forth in
Section 4.01 of the Indenture, the Senior Notes shall include the following
additional Event of Default designated as clause (8) of such Section, which
shall be deemed an Event of Default under Section 4.01 of the Indenture:

 

“(8)
a failure by the Obligor to repurchase Senior Notes tendered for repurchase
following the occurrence of a Change of Control Repurchase Event in conformity
with Section 2.07 of the Fourth Supplemental Indenture, dated July 20,
2010, between the Obligor and the Trustee.”

 

7

 

SECTION 2.15.
Limitation on Liens. In addition to the exceptions to the limitations on
liens restrictions set forth in Section 9.06 of the Indenture, the Senior Notes
shall include the following additional exception designated as clause (10) of
such Section:

 

“(10)
liens existing on the date of the Fourth Supplemental Indenture, dated July 20,
2010, between the Obligor and the Trustee.”

 

SECTION
2.16.  Effect of Supplemental
Indentures.  The Senior Notes shall
not be subject to any of the terms and conditions set forth in the First
Supplemental Indenture, the Second Supplemental Indenture or the Third
Supplemental Indenture.  The terms of the
First Supplemental Indenture, the Second Supplemental Indenture and the Third
Supplemental Indenture, and the resulting amendments and supplements to the
Indenture, shall be disregarded in their entirety in determining the rights of
Holders of the Senior Notes and the obligations of the Obligor to such Holders
and shall only have effect with respect to the 6.50% Senior Notes due 2017, the
4.45% Senior Notes due 2012 and the 5.50% Senior Notes due 2015,
respectively.  This Fourth Supplemental
Indenture shall be read to amend and supplement the Indenture only with respect
to the Senior Notes and shall not be read to otherwise have any effect on the
terms of the Indenture, the 6.50% Senior Notes due 2017, the 4.45% Senior Notes
due 2012, the 5.50% Senior Notes due 2015 or any other series of notes issued
pursuant to the Indenture.

 

[SIGNATURE PAGE FOLLOWS]

 

8

 

	
   

  	
  AGILENT
  TECHNOLOGIES INC.,

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Hilliard C. Terry, III

  
	
   

  	
  Name:

  	
  Hilliard
  C. Terry, III

  
	
   

  	
  Title:

  	
  Vice
  President, Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  U.S.
  BANK NATIONAL ASSOCIATION, 

  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Paula Oswald

  
	
   

  	
  Name:

  	
  Paula
  Oswald

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signature Page to Fourth
Supplemental Indenture]

 

 

EXHIBIT A

 

Form of Senior Note

 

THIS
IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN.

 

UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
OBLIGOR 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.

 

TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF.

 

 

	
  No. 

  	
  $                  

  

 

2.50% Senior Note due 2013

 

CUSIP No. 00846U AF8

ISIN No. US00846UAF84

 

AGILENT
TECHNOLOGIES, INC., a Delaware corporation, promises to pay to
Cede & Co., or registered assigns, the principal sum listed on the
Schedule of Increases or Decreases in Global Note attached hereto on July 15,
2013.

 

Interest
Payment Dates: January 15 and July 15.

 

Record
Dates: December 31 and June 30.

 

Additional
provisions of this 2013 Senior Note are set forth on the other side of this
2013 Senior Note.

 

IN
WITNESS WHEREOF, the parties have caused this instrument to be duly executed.

 

	
   

  	
  AGILENT
  TECHNOLOGIES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  by

  	
   

  
	
   

  	
  Name:

  	
  Hilliard
  C. Terry, III

  
	
   

  	
  Title:

  	
  Vice
  President, Treasurer

  

 

Dated: 
July 20, 2010

 

	
  TRUSTEE’S
  CERTIFICATE OF AUTHENTICATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  U.S. BANK NATIONAL ASSOCIATION, 

  	
   

  	
   

  
	
   

  	
  as
  Trustee, certifies that this is one of

  the Senior Notes referred

  to in the Fourth Supplemental Indenture.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  by

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  	
   

  
					

 

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

 

The
initial principal amount of this Global Note is $250,000,000. The following
increases or decreases in this Global Note have been made:

 

	
  Date of

  Exchange

  	
   

  	
  Amount of decrease in

  Principal Amount of

  this Global Note

  	
   

  	
  Amount of increase in

  Principal Amount of

  this Global Note

  	
   

  	
  Principal amount of this

  Global Note following such

  decrease or increase

  	
   

  	
  Signature of authorized

  signatory of Trustee

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

2.50% Senior Notes due 2013

 

1.
Interest

 

AGILENT
TECHNOLOGIES, INC., a Delaware corporation (such corporation, and its
successors and assigns under the Indenture hereinafter referred to, being
herein called the “Obligor”), promises to pay interest on the principal amount
of this 2013 Senior Note at the rate per annum shown above. The Obligor shall
pay interest semiannually on January 15 and July 15 of each year.
Interest on this 2013 Senior Note shall accrue from the most recent date to which
interest has been paid or duly provided for or, if no interest has been paid or
duly provided for, from July 20, 2010 until the principal hereof is due.
Interest shall be computed on the basis of a 360-day year of twelve 30-day
months. The Obligor shall pay interest on overdue principal at the rate borne
by this 2013 Senior Note plus 2% per annum, and it shall pay interest on
overdue installments of interest at the same rate to the extent lawful.

 

2.
Method of Payment

 

The
Obligor shall pay interest on this 2013 Senior Note (except defaulted interest)
to the Persons who are registered Holders at the close of business on the
Record Date. Holders must surrender this 2013 Senior Note to a Paying Agent to
collect principal payments. Payments in respect of this 2013 Senior Note
represented by a Global Note (including principal, premium, if any, and
interest) shall be made in immediately available funds to DTC or its nominees,
as the case may be, as the Holder of such Global Note. The Obligor will make
all payments in respect of any certificated 2013 Senior Note (including
principal, premium, if any, and interest) at the office of the Paying Agent,
except that, at the option of the Obligor, payment of interest may be made by
mailing a check to the registered address of each Holder thereof or, upon
request of a Holder of at least $1,000,000 aggregate principal amount of 2013
Senior Notes, by wire transfer to an account located in the United States by
the payee.

 

3.
Paying Agent and Registrar

 

Initially,
U.S. Bank National Association, a United States banking association (the “Trustee”),
will act as Paying Agent and Registrar. The Obligor may act as Paying Agent.

 

4.
Indenture

 

The
Obligor issued this 2013 Senior Note under an Indenture dated as of October 24,
2007 (the “Base Indenture”), between the Obligor and the Trustee, as
supplemented by the Fourth Supplemental Indenture, dated as of July 20,
2010 (the “Fourth Supplemental Indenture and, together with the Base Indenture,
the “Indenture”), between the Obligor and the Trustee. Capitalized terms used
herein are used as defined in the Indenture unless otherwise indicated. The
terms of this 2013 Senior Note include those stated in the Indenture, and those
made part of the Indenture by reference to the Trust Indenture Act of 1939
(15 U.S.C. §§ 77aaa 77bbbb) as in effect on the date of the
Indenture (the “TIA”). Terms defined in the Indenture and not defined herein
have the meanings ascribed thereto in the Indenture. This 2013 Senior Note is
subject to all terms and provisions of the Indenture, and Holders (as defined
in the Indenture) are referred to the Indenture and the TIA for a statement of
such terms and provisions. In the event of a conflict between any provision of
this 2013 Senior Note and the Indenture, the Indenture shall govern such
provision.

 

This
2013 Senior Note is a senior unsecured obligation of the Obligor of which an
unlimited aggregate principal amount may be at any one time Outstanding. The
Indenture imposes certain limitations on the ability of the Obligor and its
Subsidiaries to, among other things, create or incur Liens and enter into
certain Sale-Leaseback Transactions. The Indenture also imposes limitations on
the ability of the Obligor to consolidate or merge with or into any other
Person or convey, transfer or lease all or substantially all its property.

 

 

5.
Optional Redemption

 

The
Obligor may redeem this 2013 Senior Note at its option at any time in whole or
in part. If the Obligor elects to redeem this 2013 Senior Note, it will pay a
Redemption Price equal to the greater of the following amounts, plus, in each
case, accrued and unpaid interest thereon to, but not including, the Redemption
Date:

 

·                  100% of the aggregate principal amount of
this 2013 Senior Note; or

 

·                  the sum of the present values of the
Remaining Scheduled Payments. In determining the present values of the
Remaining Scheduled Payments the Obligor shall discount such payments to the
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Rate plus 25
basis points.

 

6.
Sinking Fund

 

This
2013 Senior Note is not subject to any sinking fund.

 

7.
Notice of Redemption

 

If
the Obligor elects to redeem this 2013 Senior Note, it shall furnish the Trustee,
at least 45 days (or such shorter period as shall be acceptable to the Trustee,
but in no event less than 30 days) but not more than 60 days before the
Redemption Date, an Officer’s Certificate setting forth (1) the Redemption
Date and (2) the CUSIP and/or ISIN numbers of this 2013 Senior Note.

 

Notice
of redemption of this 2013 Senior Note, either in whole or in part, shall be
given to the Holder thereof at the option of the Obligor by first-class mail,
postage prepaid, mailed not fewer than 30 nor more than 60 days prior to
the Redemption Date to such Holder at such Holder’s last address appearing in
the Security Register for the 2013 Senior Notes.

 

8.
Repurchase of this 2013 Senior Note at the Option of Holders upon Change of
Control Repurchase Event

 

If
a Change of Control Repurchase Event occurs, unless the Obligor has exercised
its right to redeem this 2013 Senior Note as described in the Indenture, the
Obligor shall be required to make an offer to the Holder of this 2013 Senior
Note to repurchase all or any part (in excess of $2,000 and in integral
multiples of $1,000) of this 2013 Senior Note at a repurchase price in cash
equal to 101% of the aggregate principal amount of such percentage of this 2013
Senior Note plus any accrued and unpaid interest on the portion of this 2013
Senior Note so repurchased to, but not including, the date of repurchase, as
provided in, and subject to the terms of, the Indenture.

 

9.
Denominations; Transfer; Exchange

 

2013
Senior Notes may be issued in registered form in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. A Holder may transfer or
exchange this 2013 Senior Note in accordance with the Indenture. Upon any
transfer or exchange, the Obligor and the Trustee may require a Holder, among other
things, to furnish appropriate endorsements or transfer documents and to pay
any taxes required by law or permitted by the Indenture. The Obligor need not
register the transfer of or exchange this 2013 Senior Note if selected for
redemption (except, in the event it will be redeemed in part, the portion not
to be redeemed), or to transfer or exchange this 2013 Senior Note for a period
of 15 days prior to a selection of 2013 Senior Notes to be redeemed.

 

10.
Persons Deemed Owners

 

With
certain exceptions, the registered Holder of this 2013 Senior Note may be
treated as the owner of it for all purposes.

 

 

11.
Unclaimed Money

 

If
money for the payment of principal or interest, if any, remains unclaimed for
two years, the Trustee shall pay the money back to the Obligor at its request.
After any such payment, Holders entitled to the money must look to the Obligor
for payment as unsecured general creditors and the Trustee and the Paying Agent
shall have no further liability with respect to such monies.

 

12.
Discharge and Defeasance

 

Subject
to certain conditions, the Obligor at any time may terminate some of or all its
obligations under this 2013 Senior Note and the Indenture if the Obligor
deposits with the Trustee U.S. dollars or non-callable U.S. Government
Obligations for the payment of principal of, premium, if any, and interest on,
this 2013 Senior Note to redemption or maturity, as the case may be.

 

13.
Amendment, Waiver

 

Subject
to certain exceptions set forth in the Indenture, (i) the Indenture may be
amended under certain circumstances with the written consent of the Holders of
at least a majority in aggregate principal amount of the Outstanding 2013
Senior Notes and (ii) certain defaults may be waived with the written
consent of the Holders of at least a majority in principal amount of the
Outstanding 2013 Senior Notes. Subject to certain exceptions set forth in the
Indenture, without the consent of the Holders of any 2013 Senior Notes, the
Obligor and the Trustee may amend the Indenture: (i) to evidence the
succession of another Person to the Obligor and the assumption by any such
successor of the covenants of the Obligor under the Indenture and the 2013
Senior Notes; (ii) to add to the covenants of the Obligor for the benefit
of Holders of the 2013 Senior Notes or to surrender any right or power
conferred upon the Obligor; (iii) to add any additional events of default
for the benefit of Holders of the 2013 Senior Notes; (iv) to add to or
change any of the provisions of the Indenture as necessary to permit or
facilitate the issuance of 2013 Senior Notes in bearer form, registrable or not
registrable as to principal, and with or without interest coupons, or to permit
or facilitate the issuance of 2013 Senior Notes in uncertificated form;
(v) to secure the 2013 Senior Notes; (vi) to add or appoint a
successor or separate Trustee; (vii) to cure any ambiguity, defect or
inconsistency; (viii) to supplement any of the provisions of the Indenture
as necessary to permit or facilitate the defeasance and discharge of 2013
Senior Notes, provided that the interests of the holders of the 2013 Senior
Notes are not adversely affected in any material respect; (ix) to make any
other change that would not adversely affect the Holders of the 2013 Senior
Notes in any material respect; (x) to make any change necessary to comply
with any requirement of the Commission in connection with the qualification of
the Indenture or any supplemental Indenture under the TIA; and (xi) to
conform the Indenture to the section entitled “Description of Notes” in the
prospectus supplement dated July 13, 2010 relating to the 2013 Senior
Notes.

 

14.
Defaults and Remedies

 

If
any Event of Default (other than an Event of Default relating to certain events
of bankruptcy, insolvency or reorganization of the Obligor) with respect to
this 2013 Senior Note occurs and is continuing, then either the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Outstanding
2013 Senior Notes may declare the principal of all Outstanding 2013 Senior
Notes, and the interest to the date of acceleration, if any, accrued thereon,
to be immediately due and payable by notice in writing to the Obligor (and to
the Trustee if given by Holders) specifying the Event of Default. If an Event
of Default relating to a merger or certain events of bankruptcy, insolvency or
reorganization of the Obligor occurs, then the principal amount of all the 2013
Senior Notes then Outstanding and interest accrued thereon, if any, will become
and be immediately due and payable without any declaration or other act on the
part of the Trustee or the Holders of the 2013 Senior Notes, to the full extent
permitted by applicable law.

 

 

Under
certain circumstances, the Holders of a majority in principal amount of the
Outstanding 2013 Senior Notes may rescind any such acceleration with respect to
the 2013 Senior Notes and its consequences.

 

No
Holder of this 2013 Senior Note may institute any action, unless and until:
(i) such Holder has given the Trustee written notice of a continuing Event
of Default with respect to the 2013 Senior Notes; (ii) the Holders of at
least 25% in aggregate principal amount of the Outstanding 2013 Senior Notes
have made a written request to the Trustee to institute proceedings in respect
of such Event of Default in its own name as Trustee hereunder; (iii) such
Holder or Holders has or have offered the Trustee such reasonable indemnity
against the costs, expenses and liabilities to be incurred in compliance with
such request; (iv) the Trustee has failed to institute any such proceeding
for 60 days after its receipt of such notice, request and offer of
indemnity; and (v) no inconsistent direction has been given to the Trustee
during such 60-day period by the Holders of a majority in aggregate principal
amount of the Outstanding 2013 Senior Notes. 
These limitations do not apply to a suit instituted by a Holder of any
2013 Senior Notes for enforcement of payment of the principal of, and premium,
if any, or interest on, such 2013 Senior Notes on or after the respective due
dates expressed in such 2013 Senior Notes.

 

15.
Trustee Dealings with the Obligor

 

Subject
to certain limitations imposed by the TIA, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of this
2013 Senior Note and may otherwise deal with the Obligor with the same rights
it would have if it were not Trustee.

 

16.
Authentication

 

This
2013 Senior Note shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of
authentication on the other side of this 2013 Senior Note.

 

17.
Governing Law

 

THIS 2013 SENIOR NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

18.
CUSIP and ISIN Numbers

 

The
Obligor has caused CUSIP and ISIN numbers to be printed on this 2013 Senior
Note and has directed the Trustee to use CUSIP and ISIN numbers in notices of
redemption as a convenience to Holders. No representation is made as to the
accuracy of such numbers either as printed on this 2013 Senior Note or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

 

The Obligor will furnish to any Holder of this 2013 Senior
Note upon written request and without charge to the Holder a copy of the
Indenture which has in it the text of this 2013 Senior Note.Exhibit 4.02

 

AGILENT TECHNOLOGIES, INC.

(as Obligor)

 

and

 

U.S. BANK NATIONAL ASSOCIATION

(as Trustee)

 

Fifth Supplemental Indenture

 

Dated as of July 20, 2010

 

5.00% Senior Notes due 2020

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
  ARTICLE I

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEFINITIONS

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 1.01.

  	
  Definitions

  	
  1

  
	
   

  	
   

  	
   

  
	
   

  	
  ARTICLE II

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TERMS OF THE NOTES

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 2.01.

  	
  Title

  	
  4

  
	
  Section 2.02.

  	
  Aggregate
  Principal Amount

  	
  4

  
	
  Section 2.03.

  	
  Maturity

  	
  4

  
	
  Section 2.04.

  	
  Interest

  	
  4

  
	
  Section 2.05.

  	
  Place
  of Payment

  	
  4

  
	
  Section 2.06.

  	
  Optional
  Redemption

  	
  4

  
	
  Section 2.07.

  	
  Change
  of Control Repurchase

  	
  6

  
	
  Section 2.08.

  	
  Issue
  Date

  	
  7

  
	
  Section 2.09.

  	
  Issue
  Price

  	
  7

  
	
  Section 2.10.

  	
  Definitive
  and Global Notes

  	
  7

  
	
  Section 2.11.

  	
  Denomination

  	
  7

  
	
  Section 2.12.

  	
  Further
  Issuances

  	
  7

  
	
  Section 2.13.

  	
  Defeasance
  and Discharge of Covenants upon Deposit of Moneys, U.S. Government
  Obligations

  	
  7

  
	
  Section 2.14.

  	
  Events
  of Default

  	
  7

  
	
  Section 2.15.

  	
  Limitation
  on Liens

  	
  8

  
	
  Section 2.16.

  	
  Effect
  of Supplemental Indentures

  	
  8

  
	
   

  	
   

  	
   

  
	
  Exhibit A

  	
   Form of
  Senior Note

  	
   

  

 

ii

 

THIS
FIFTH SUPPLEMENTAL INDENTURE, between Agilent Technologies, Inc., a
Delaware corporation (the “Obligor”), having its principal office at 5301  Stevens
Creek Blvd., Santa Clara, California 95051, and U.S. Bank National Association,
as trustee (the “Trustee”), is made and entered into as of this 20th day of
July, 2010.

 

RECITALS OF THE OBLIGOR

 

WHEREAS,
the Obligor and the Trustee executed and delivered an Indenture dated as of October 24,
2007 (the “Indenture”), to provide for the issuance by the Obligor from time to
time of debt securities;

 

WHEREAS,
capitalized terms used herein, not otherwise defined, shall have the same
meanings given them in the Indenture;

 

WHEREAS,
pursuant to a board resolution, the Obligor has authorized the issuance of $500
million of its 5.00% Senior Notes due 2020 (the “Senior Notes”); and

 

WHEREAS,
the Obligor desires to establish the terms of the Senior Notes in accordance
with Section 2.01 of the Indenture;

 

NOW,
THEREFORE, it is mutually agreed as follows:

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.01.
Definitions. For all purposes of this Fifth Supplemental Indenture,
except as otherwise expressly provided or unless the context otherwise
requires:

 

“Change
of Control” means the occurrence of any of the following: (1) the
direct or indirect sale, transfer, conveyance or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the properties or assets of the Obligor and its
Subsidiaries taken as a whole to any “person” (as that term is used in Section 13(d) and
Section 14(d) of the Exchange Act) other than the Obligor or one of
its Subsidiaries; (2) the adoption of a plan relating to the Obligor’s
liquidation or dissolution; (3) the consummation of any transaction
(including, without limitation, any merger or consolidation) the result of
which is that any “person” (as that term is used in Section 13(d)(3) of
the Exchange Act) or group of persons, other than the Obligor or its
Subsidiaries, becomes the beneficial owner (as defined in Rules 13d-3 and
13d-5 of the Exchange Act), directly or indirectly, of more than 50% of the
combined voting power of the Obligor’s Voting Stock or other Voting Stock into
which the Obligor’s Voting Stock is reclassified, consolidated, exchanged or
changed, measured by voting power rather than number of shares; or (4) the
first day on which a majority of the members of the Obligor Board are not
Continuing Directors.

 

“Change
of Control Repurchase Event” means the occurrence of both a Change of
Control and a Ratings Event.

 

“Comparable
Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity
comparable to the remaining term of the Senior Notes to be redeemed that would
be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Senior Notes.

 

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

 

1

 

“Continuing
Directors” means, as of any date of determination, any member of the
Obligor Board who (1) was a member of the Obligor Board on the date of the
issuance of the Senior Notes; or (2) was nominated for election or elected
to the Obligor Board with the approval of a majority of the Continuing
Directors who were members of the Obligor Board at the time of such nomination
or election.

 

“Fifth
Supplemental Indenture” means this Fifth Supplemental Indenture to the
Indenture, as amended or supplemented from time to time.

 

“First
Supplemental Indenture” means the First Supplemental Indenture dated as of October 29,
2007 to the Indenture between the Obligor and the Trustee, as amended or
supplemented from time to time.

 

“Fitch”
means Fitch Ratings Ltd. and its successors.

 

“Fourth
Supplemental Indenture” means the Fourth Supplemental Indenture dated as of
July 20, 2010 to the Indenture between the Obligor and the Trustee, as
amended or supplemented from time to time.

 

“Indenture”
has the meaning assigned in the recitals.

 

“Independent
Investment Banker” means Banc of America Securities LLC, Barclays Capital
Inc. or Credit Suisse Securities (USA) LLC, or their respective successors as
may be appointed from time to time by the Obligor; provided, however,
that if any of the foregoing ceases to be a primary U.S. Government securities
dealer in New York City (a “primary treasury dealer”), the Obligor shall
substitute another primary treasury dealer.

 

“Investment
Grade” means a rating of BBB- or better by Fitch (or its equivalent under
any successor rating categories of Fitch); a rating of Baa3 or better by Moody’s
(or its equivalent under any successor Rating Categories of Moody’s); a rating
of BBB- or better by S&P (or its equivalent under any successor Rating
Categories of S&P); and the equivalent investment grade credit rating from
any additional Rating Agency or Rating Agencies selected by the Obligor.

 

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

 

“Obligor
Board” means the board of directors of the Obligor.

 

“Rating
Agency” means each of Fitch, Moody’s and S&P, so long as such entity
makes a rating of the notes publicly available; provided, however, if any
of Fitch, Moody’s or S&P ceases to rate the notes or fails to make a rating
of the notes publicly available for reasons outside of the control of the
Obligor, the Obligor shall be allowed to designate a “nationally recognized
statistical rating organization” within the meaning of
Rule 15c3-l(e)(2)(vi)(F) under the Exchange Act (as certified by
a resolution of the board of directors of the Obligor) as a replacement agency
for the agency that ceased to make such a rating publicly available.  For the avoidance of doubt, failure by the
Obligor to pay rating agency fees to make a rating of the notes shall not be a “reason
outside of the control of the Obligor” for the purposes of the preceding
sentence.

 

“Rating
Category” means (i) with respect to S&P, any of the following
categories: BBB, BB, B, CCC, CC, C and D (or equivalent successor categories);
(ii) with respect to Moody’s, any of the following categories: Baa, Ba, B,
Caa, Ca, C and D (or equivalent successor categories); (iii) with respect
to Fitch, any of the following categories: BBB, BB, B, CCC, CC, C and D (or
equivalent successor categories); and (iv) the equivalent of any such
category of S&P, Moody’s or Fitch used by another Rating Agency. In
determining whether the rating of the Senior Notes has decreased by one or more
gradations, gradations within Rating Categories (+ and - for S&P or Fitch;
1, 2 and 3 for Moody’s; or the equivalent gradations for another Rating Agency)
shall be taken into account (e.g., with respect to S&P or Fitch, a decline
in a rating from BB+ to BB, as well as from BB- to B+, shall constitute a
decrease of one gradation).

 

2

 

“Ratings
Event” means a decrease in the ratings of the Senior Notes by one or more
of the Rating Agencies such that the Senior Notes are rated below Investment
Grade by all of the Rating Agencies on any date from the date of the public
notice of an arrangement that could result in a Change of Control until the end
of the 60-day period following public notice of the occurrence of a Change of
Control (which period shall be extended so long as the rating of the Senior
Notes is under publicly announced consideration for possible downgrade by any
of the Rating Agencies).

 

Notwithstanding
the foregoing, a Ratings Event otherwise arising by virtue of a particular
reduction in rating shall not be deemed to have occurred in respect of a
particular Change of Control (and thus shall not be deemed a Ratings Event for
purposes of the definition of Change of Control Repurchase Event hereunder) if
the Rating Agencies making the reduction in rating to which this definition
would otherwise apply do not announce or publicly confirm or inform the Trustee
in writing at its request that the reduction was the result, in whole or in
part, of any event or circumstance comprised of or arising as a result of, or
in respect of, the applicable Change of Control (whether or not the applicable
Change of Control shall have occurred at the time of the Ratings Event).

 

“Reference
Treasury Dealer” means Banc of America Securities LLC, Barclays Capital
Inc. or Credit Suisse Securities (USA) LLC, and one other primary treasury
dealer selected by the Obligor, and each of their respective successors and any
other primary treasury dealers selected by the Obligor.

 

“Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury
Dealer and any Redemption Date, the arithmetic average, as determined by the
Trustee, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in
writing to the Trustee by such Reference Treasury Dealer as of 5:00 p.m.,
New York City time, on the third Business Day preceding such Redemption Date.

 

“Remaining
Scheduled Payments” means, with respect to any Senior Note to be redeemed,
the remaining scheduled payments of the principal thereof and interest thereon
that would be due after the related Redemption Date but for such redemption; provided,
however, that, if such Redemption Date is not an Interest Payment Date
with respect to such Senior Note, the amount of the next scheduled interest payment
thereon shall be reduced by the amount of interest accrued thereon to such
Redemption Date.

 

“Second
Supplemental Indenture” means the Second Supplemental Indenture dated as of
September 14, 2009 to the Indenture between the Obligor and the Trustee,
as amended or supplemented from time to time.

 

“Senior
Notes” has the meaning assigned in the Recitals.

 

“S&P”
means Standard & Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc., and its successors.

 

“Third
Supplemental Indenture” means the Third Supplemental Indenture dated as of September 14,
2009 to the Indenture between the Obligor and the Trustee, as amended or
supplemented from time to time.

 

“Treasury
Rate” means, with respect to any Redemption Date, the rate per annum equal
to the semi-annual equivalent yield to Maturity (computed as of the third
Business Day immediately preceding that Redemption Date) of the Comparable
Treasury Issue. In determining this rate, the Obligor shall assume 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.

 

“Voting
Stock” of any specified Person as of any date means the capital stock of
such Person that is at the time entitled to vote generally in the election of
the board of directors of such Person.

 

3

 

ARTICLE II

 

TERMS OF THE NOTES

 

SECTION 2.01.
Title. The Senior Notes shall constitute a series of Notes having the
title “5.00% Senior Notes due 2020” that shall be in the form attached as Exhibit A.

 

SECTION 2.02.
Aggregate Principal Amount. The aggregate principal amount of the Senior
Notes that may be authenticated and delivered under this Fifth Supplemental
Indenture shall be unlimited; provided that the Obligor complies with
the provisions of this Fifth Supplemental Indenture.

 

SECTION 2.03.
Maturity. The entire outstanding principal amount of the Senior Notes
shall be payable on July 15, 2020.

 

SECTION 2.04.
Interest. The Senior Notes shall accrue interest at a rate of 5.00% per
year. Interest shall accrue on the Senior Notes from the most recent Interest
Payment Date to or for which interest has been paid or duly provided for (or if
no interest has been paid or duly provided for, from the Issue Date of the
Senior Notes), payable semiannually in arrears on January 15 and July 15
of each year, beginning on January 15, 2011. The Record Dates for payment
of interest shall be December 31 and June 30 of each year, beginning December 31,
2010. Interest on overdue principal and premium, if any, from time to time,
shall be at a rate of 2% per annum in excess of the rate then in effect;
interest on overdue installments of interest, if any, from time to time, shall
be at the same rate, to the extent lawful.

 

SECTION 2.05.
Place of Payment. The place where the principal of (and premium, if any)
and interest, if any, with respect to the Senior Notes shall be payable shall
be the Corporate Trust Office.

 

SECTION 2.06.
Optional Redemption. (a) The Obligor may redeem the Senior Notes at
its option at any time in whole or in part. If the Obligor elects to redeem the
Senior Notes, it shall pay a Redemption Price equal to the greater of the
following amounts, plus, in each case, accrued and unpaid interest thereon to,
but not including, the Redemption Date:

 

(i) 100% of the aggregate principal amount of the Senior Notes to
be redeemed on the Redemption Date; or

 

(ii) the sum of the present values of the Remaining Scheduled
Payments. In determining the present values of the Remaining Scheduled
Payments, the Obligor shall discount such payments to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at a discount rate equal to the Treasury Rate plus 30 basis points.

 

Any
redemption pursuant to this Section 2.06(a) shall be made pursuant to
the provisions of Section 2.06(b) through (i) below.

 

(b) If
the Obligor elects to redeem the Senior Notes pursuant to the optional
redemption provisions of Section 2.06(a) above, it shall furnish to
the Trustee, at least 45 days (or such shorter period as shall be acceptable to
the Trustee, but in no event less than 30 days) but not more than 60 days
before the Redemption Date, an Officers’ Certificate setting forth (1) the
Redemption Date, and (2) the CUSIP and/or ISIN numbers of the Senior
Notes.

 

(c) If
fewer than all the Senior Notes are to be redeemed, the particular Senior Notes
to be redeemed shall be selected not more than 60 days prior to the
Redemption Date by the Trustee from the Outstanding Senior Notes not previously
called for redemption, pro rata, by lot or by such other method as the Trustee
shall deem fair and appropriate, and may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for the
Senior Notes or any integral multiple thereof) of the principal amount of
Senior Notes of a denomination larger than the minimum authorized denomination
for the Senior Notes.

 

4

 

(d) The
Trustee shall promptly notify the Obligor in writing of the Senior Notes
selected for redemption and, in the case of any Senior Notes selected for
partial redemption, the principal amount thereof to be redeemed.

 

(e) For
all purposes of this Fifth Supplemental Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Senior Notes shall
relate, in the case of any Senior Note redeemed or to be redeemed only in part,
to the portion of the principal of such Senior Note which has been or is to be
redeemed.

 

(f) Notice
of redemption of Senior Notes to be redeemed, either in whole or in part, shall
be given to the Holders thereof at the option of the Obligor, by first-class
mail, postage prepaid, mailed not fewer than 30 nor more than 60 days
prior to the Redemption Date, to each such Holder at such Holder’s last address
appearing in the Security Register. All notices of redemption shall state:

 

(i) the Redemption Date;

 

(ii) the Redemption Price, or if not then ascertainable, the manner
of calculating the Redemption Price;

 

(iii) if fewer than all Outstanding Senior Notes are to be
redeemed, the identification (and, in the case of partial redemption, the
respective principal amounts) of the Senior Notes to be redeemed from the
Holder to whom the notice is given and that on and after the Redemption Date,
upon surrender of such Senior Note, a new Senior Note or Senior Notes in the
aggregate principal amount equal to the unredeemed portion thereof shall be
issued in accordance with Section 2.06(i);

 

(iv) that on the Redemption Date the Redemption Price shall become
due and payable upon each Senior Note called for redemption, and that interest,
if any, thereon shall cease to accrue from and after said date;

 

(v) the place where Senior Notes called for redemption are to be
surrendered for payment of the Redemption Price, which shall be the office or
agency maintained by the Obligor pursuant to Section 9.02 of the
Indenture;

 

(vi) the name and address of the Paying Agent;

 

(vii) that the Senior Notes called for redemption must be
surrendered to the Paying Agent to collect the Redemption Price; and

 

(viii) the CUSIP and/or ISIN number, and that no representation is
made as to the correctness or accuracy of the CUSIP and/or ISIN number, if any,
listed in such notice or printed on the Senior Notes.

 

Notice
of redemption of Senior Notes shall be given by the Obligor or, at the Obligor’s
request, by the Trustee in the name and at the expense of the Obligor; provided,
however, that if the Obligor requests the Trustee to give such notice,
it shall provide an execution version of such notice to the Trustee at least
five Business Days before such notice is required to be sent.

 

(g) On
or prior to 10 a.m., New York City time, on any Redemption Date, the Obligor
shall deposit with the Trustee or with a Paying Agent (or, if the Obligor is
acting as its own Paying Agent, segregate and hold in trust as provided in
Section 9.03 of the Indenture) an amount of money sufficient to pay the
Redemption Price of, and accrued interest on, all the Senior Notes which are to
be redeemed on that date.

 

5

 

(h) Notice
of redemption having been given as aforesaid, the Senior Notes (or portions
thereof) so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price plus accrued and unpaid interest to the
Redemption Date therein specified, and from and after such date (unless the
Obligor shall default in the payment of the Redemption Price) such Senior Notes
shall cease to bear interest. Upon surrender of such Senior Notes for
redemption in accordance with the notice, such Senior Notes shall be paid by
the Obligor at the Redemption Price. Any installment of interest due and
payable on or prior to the Redemption Date shall be payable to the Holders of
such Senior Notes registered as such on the relevant Record Date according to
the terms and the provisions of Section 2.06 of the Indenture. If any
Senior Note called for redemption shall not be so paid upon surrender thereof
for redemption, the principal shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor by the Senior Note.

 

(i) Any
Senior Note that is to be redeemed only in part shall be surrendered at the
office or agency maintained by the Obligor pursuant to Section 9.02 of the
Indenture (with, if the Obligor or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Obligor and the
Trustee duly executed by, the Holder thereof or the Holder’s attorney duly
authorized in writing) and the Obligor shall execute and the Trustee shall
authenticate and deliver to the Holder of such Senior Note without service
charge and at the expense of the Obligor, a new Senior Note or Senior Notes, of
any authorized denomination as requested by such Holder in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of
such Senior Note so surrendered.

 

SECTION 2.07.
Change of Control Repurchase. (a) If a Change of Control Repurchase
Event occurs, unless the Obligor has exercised its right to redeem the Senior
Notes as set forth in Section 2.06, the Obligor shall be required to make
an offer to each Holder of the Senior Notes to repurchase all or any part (in
excess of $2,000 and in integral multiples of $1,000) of that Holder’s Senior
Notes at a repurchase price in cash equal to 101% of the aggregate principal
amount of the Senior Notes repurchased plus any accrued and unpaid interest on
the Senior Notes repurchased to, but not including, the date of repurchase.

 

(b) Within
30 days following any Change of Control Repurchase Event or, at the option of
the Obligor, prior to any Change of Control, but after the public announcement
of the Change of Control, the Obligor shall mail a notice to each Holder, with
a copy to the Trustee, describing the transaction or transactions that
constitute or may constitute the Change of Control Repurchase Event and
offering to  repurchase the Senior Notes
on the payment date specified in the notice, which date shall be no earlier
than 30 days and no later than 60 days from the date such notice is mailed. The
notice shall, if mailed prior to the date of consummation of the Change of
Control, state that the offer to purchase is conditioned on a Change of Control
Repurchase Event occurring on or prior to the payment date specified in the
notice.

 

(c) The
Obligor shall comply with the requirements of Rule 14e-1 under the
Exchange Act, and any other securities laws and regulations to the extent those
laws and regulations are applicable in connection with the repurchase of the
Senior Notes as a result of a Change of Control Repurchase Event. To the extent
that the provisions of any securities laws or regulations conflict with this
Section 2.07, the Obligor shall comply with the applicable securities laws
and regulations and shall not be deemed to have breached its obligations under
this Section 2.07 by virtue of compliance with such securities laws or
regulations.

 

(d) On
the repurchase date following a Change of Control Repurchase Event, the Obligor
shall, to the extent lawful:

 

(i) accept for payment all the Senior Notes or portions of the
Senior Notes properly tendered pursuant to its offer;

 

(ii) deposit with the Paying Agent an amount equal to the
aggregate purchase price in respect of all the Senior Notes or portions of the
Senior Notes properly tendered; and

 

(iii) deliver or cause to be delivered to the Trustee the Senior
Notes properly accepted, together with an Officer’s Certificate stating the
aggregate principal amount of Senior Notes being purchased by the Obligor.

 

6

 

(e) The
Paying Agent shall promptly mail to each Holder of Senior Notes properly
tendered the purchase price for the Senior Notes, and the Trustee shall
promptly authenticate and mail (or cause to be transferred by book-entry) to
each Holder a new Senior Note equal in principal amount to any unpurchased
portion of any Senior Notes surrendered.

 

(f) The
Obligor shall not be required to make an offer to repurchase the Senior Notes
upon a Change of Control Repurchase Event if a third party makes such an offer
in the manner, at the times and otherwise in compliance with the requirements
for an offer made by the Obligor and such third party purchases all Senior
Notes properly tendered and not withdrawn under its offer.

 

(g) Should
the Obligor choose to exercise its rights under Section 3.02 of the
Indenture, it shall no longer be obligated to make an offer to repurchase the
Senior Notes following a Change of Control Repurchase Event.

 

SECTION 2.08.
Issue Date. The Issue Date of the Senior Notes is July 13, 2010.

 

SECTION 2.09.
Issue Price. The issue price of the Senior Notes is 99.535% of the
aggregate principal amount of the Senior Notes.

 

SECTION 2.10.
Definitive and Global Notes. The Senior Notes are issuable in whole or
in part in the form of Definitive Notes or as one or more Global Notes and the
Depositary for such Global Notes shall be DTC.

 

SECTION 2.11.
Denomination. The Senior Notes shall be issued in registered form in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

SECTION 2.12.
Further Issuances. The Obligor may issue an unlimited principal amount
of additional Senior Notes; provided that, any such additional Senior
Notes shall have identical terms as the outstanding Senior Notes, other than
with respect to the date of issuance, issue price, first Interest Payment Date,
interest accrual date and amount of interest payable on the first Interest
Payment Date applicable thereto; provided, further, that any such
additional Senior Notes shall be treated as a single class with the outstanding
Senior Notes for all purposes under this Fifth Supplemental Indenture and the
Indenture.

 

SECTION 2.13.
Defeasance and Discharge of Covenants upon Deposit of Moneys, U.S.
Government Obligations. (a) Sub-clause (b) of the first paragraph
of Section 3.02 of the Indenture is hereby supplemented to add after “9.07”
thereof:

 

“and
Section 2.07 of the Fifth Supplemental Indenture, dated July 20,
2010, between the Obligor and the Trustee”

 

(b) The
last sentence of the third to last paragraph of Section 3.02 of the
Indenture is hereby supplemented to add to the end thereof: “and the Obligor
shall no longer be obligated to make an offer to repurchase Senior Notes under
Section 2.07 of the Fifth Supplemental Indenture upon the occurrence of a
Change of Control (as defined in the Fifth Supplemental Indenture, dated July 20,
2010, between the Obligor and the Trustee).”

 

SECTION 2.14.
Events of Default. In addition to the Events of Default set forth in Section 4.01
of the Indenture, the Senior Notes shall include the following additional Event
of Default designated as clause (8) of such Section, which shall be deemed
an Event of Default under Section 4.01 of the Indenture:

 

“(8) a
failure by the Obligor to repurchase Senior Notes tendered for repurchase
following the occurrence of a Change of Control Repurchase Event in conformity
with Section 2.07 of the Fifth Supplemental Indenture, dated July 20,
2010, between the Obligor and the Trustee.”

 

7

 

SECTION 2.15.
Limitation on Liens. In addition to the exceptions to the limitations on
liens restrictions set forth in Section 9.06 of the Indenture, the Senior
Notes shall include the following additional exception designated as clause (10) of
such Section:

 

“(10) liens
existing on the date of the Fifth Supplemental Indenture, dated July 20,
2010, between the Obligor and the Trustee.”

 

SECTION 2.16.  Effect of Supplemental Indentures.  The Senior Notes shall not be subject to any
of the terms and conditions set forth in the First Supplemental Indenture, the
Second Supplemental Indenture, the Third Supplemental Indenture or the Fourth
Supplemental Indenture.  The terms of the
First Supplemental Indenture, the Second Supplemental Indenture, the Third
Supplemental Indenture and the Fourth Supplemental Indenture, and the resulting
amendments and supplements to the Indenture, shall be disregarded in their
entirety in determining the rights of Holders of the Senior Notes and the
obligations of the Obligor to such Holders and shall only have effect with
respect to the 6.50% Senior Notes due 2017, the 4.45% Senior Notes due 2012,
the 5.50% Senior Notes due 2015 and the 2.50% Senior Notes due 2013,
respectively.  This Fifth Supplemental
Indenture shall be read to amend and supplement the Indenture only with respect
to the Senior Notes and shall not be read to otherwise have any effect on the
terms of the Indenture, the 6.50% Senior Notes due 2017, the 4.45% Senior Notes
due 2012, the 5.50% Senior Notes due 2015, the 2.50% Senior Notes due 2013 or
any other series of notes issued pursuant to the Indenture.

 

[SIGNATURE PAGE FOLLOWS]

 

8

 

	
   

  	
  AGILENT
  TECHNOLOGIES INC.,

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Hilliard C. Terry, III

  
	
   

  	
  Name:

  	
  Hilliard
  C. Terry, III

  
	
   

  	
  Title:

  	
  Vice
  President, Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
  U.S.
  BANK NATIONAL ASSOCIATION, 

  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Paula Oswald

  
	
   

  	
  Name:

  	
  Paula
  Oswald

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signature Page to
Fifth Supplemental Indenture]

 

 

EXHIBIT A

 

Form of Senior Note

 

THIS
IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE REFERRED TO HEREIN.

 

UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
OBLIGOR 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.

 

TRANSFERS
OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO
NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF.

 

 

	
  No. 

  	
  $                  

  

 

5.00% Senior Note due 2020

 

CUSIP No. 00846U AG6

ISIN No. US00846UAG67

 

AGILENT
TECHNOLOGIES, INC., a Delaware corporation, promises to pay to
Cede & Co., or registered assigns, the principal sum listed on the
Schedule of Increases or Decreases in Global Note attached hereto on July 15,
2020.

 

Interest
Payment Dates: January 15 and July 15.

 

Record
Dates: December 31 and June 30.

 

Additional
provisions of this 2020 Senior Note are set forth on the other side of this
2020 Senior Note.

 

IN
WITNESS WHEREOF, the parties have caused this instrument to be duly executed.

 

	
   

  	
  AGILENT
  TECHNOLOGIES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  by

  	
   

  
	
   

  	
  Name:

  	
  Hilliard
  C. Terry, III

  
	
   

  	
  Title:

  	
  Vice
  President, Treasurer

  

 

Dated: 
July 20, 2010

 

	
  TRUSTEE’S
  CERTIFICATE OF AUTHENTICATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  U.S. BANK NATIONAL ASSOCIATION,

  	
   

  	
   

  
	
   

  	
  as
  Trustee, certifies that this is one of 

  the Senior Notes referred 

  to in the Fifth Supplemental Indenture.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  by

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  	
   

  
					

 

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

 

The
initial principal amount of this Global Note is $500,000,000. The following
increases or decreases in this Global Note have been made:

 

	
  Date of

  Exchange

  	
    

  	
  Amount of decrease in

  Principal Amount of

  this Global Note

  	
    

  	
  Amount of increase in

  Principal Amount of

  this Global Note

  	
    

  	
  Principal amount of this

  Global Note following such

  decrease or increase

  	
    

  	
  Signature of authorized

  signatory of Trustee

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

5.00% Senior Notes due 2020

 

1.
Interest

 

AGILENT
TECHNOLOGIES, INC., a Delaware corporation (such corporation, and its
successors and assigns under the Indenture hereinafter referred to, being
herein called the “Obligor”), promises to pay interest on the principal amount
of this 2020 Senior Note at the rate per annum shown above. The Obligor shall
pay interest semiannually on January 15 and July 15 of each year.
Interest on this 2020 Senior Note shall accrue from the most recent date to
which interest has been paid or duly provided for or, if no interest has been
paid or duly provided for, from July 20, 2010 until the principal hereof
is due. Interest shall be computed on the basis of a 360-day year of twelve
30-day months. The Obligor shall pay interest on overdue principal at the rate
borne by this 2020 Senior Note plus 2% per annum, and it shall pay
interest on overdue installments of interest at the same rate to the extent
lawful.

 

2.
Method of Payment

 

The
Obligor shall pay interest on this 2020 Senior Note (except defaulted interest)
to the Persons who are registered Holders at the close of business on the
Record Date. Holders must surrender this 2020 Senior Note to a Paying Agent to
collect principal payments. Payments in respect of this 2020 Senior Note
represented by a Global Note (including principal, premium, if any, and
interest) shall be made in immediately available funds to DTC or its nominees,
as the case may be, as the Holder of such Global Note. The Obligor will make
all payments in respect of any certificated 2020 Senior Note (including
principal, premium, if any, and interest) at the office of the Paying Agent,
except that, at the option of the Obligor, payment of interest may be made by
mailing a check to the registered address of each Holder thereof or, upon
request of a Holder of at least $1,000,000 aggregate principal amount of 2020
Senior Notes, by wire transfer to an account located in the United States by
the payee.

 

3.
Paying Agent and Registrar

 

Initially,
U.S. Bank National Association, a United States banking association (the “Trustee”),
will act as Paying Agent and Registrar. The Obligor may act as Paying Agent.

 

4.
Indenture

 

The
Obligor issued this 2020 Senior Note under an Indenture dated as of October 24,
2007 (the “Base Indenture”), between the Obligor and the Trustee, as
supplemented by the Fifth Supplemental Indenture, dated as of July 20,
2010 (the “Fifth Supplemental Indenture and, together with the Base Indenture,
the “Indenture”), between the Obligor and the Trustee. Capitalized terms used
herein are used as defined in the Indenture unless otherwise indicated. The
terms of this 2020 Senior Note include those stated in the Indenture, and those
made part of the Indenture by reference to the Trust Indenture Act of 1939
(15 U.S.C. §§ 77aaa 77bbbb) as in effect on the date of the
Indenture (the “TIA”). Terms defined in the Indenture and not defined herein
have the meanings ascribed thereto in the Indenture. This 2020 Senior Note is
subject to all terms and provisions of the Indenture, and Holders (as defined
in the Indenture) are referred to the Indenture and the TIA for a statement of
such terms and provisions. In the event of a conflict between any provision of
this 2020 Senior Note and the Indenture, the Indenture shall govern such
provision.

 

This
2020 Senior Note is a senior unsecured obligation of the Obligor of which an
unlimited aggregate principal amount may be at any one time Outstanding. The
Indenture imposes certain limitations on the ability of the Obligor and its
Subsidiaries to, among other things, create or incur Liens and enter into
certain Sale-Leaseback Transactions. The Indenture also imposes limitations on
the ability of the Obligor to consolidate or merge with or into any other Person
or convey, transfer or lease all or substantially all its property.

 

 

5.
Optional Redemption

 

The
Obligor may redeem this 2020 Senior Note at its option at any time in whole or
in part. If the Obligor elects to redeem this 2020 Senior Note, it will pay a
Redemption Price equal to the greater of the following amounts, plus, in each
case, accrued and unpaid interest thereon to, but not including, the Redemption
Date:

 

·                  100% of the aggregate principal amount of
this 2020 Senior Note; or

 

·                  the sum of the present values of the
Remaining Scheduled Payments. In determining the present values of the
Remaining Scheduled Payments the Obligor shall discount such payments to the
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of
twelve 30-day months) at a discount rate equal to the Treasury Rate plus 30
basis points.

 

6.
Sinking Fund

 

This
2020 Senior Note is not subject to any sinking fund.

 

7.
Notice of Redemption

 

If
the Obligor elects to redeem this 2020 Senior Note, it shall furnish the
Trustee, at least 45 days (or such shorter period as shall be acceptable to the
Trustee, but in no event less than 30 days) but not more than 60 days before
the Redemption Date, an Officer’s Certificate setting forth (1) the
Redemption Date and (2) the CUSIP and/or ISIN numbers of this 2020 Senior
Note.

 

Notice
of redemption of this 2020 Senior Note, either in whole or in part, shall be
given to the Holder thereof at the option of the Obligor by first-class mail,
postage prepaid, mailed not fewer than 30 nor more than 60 days prior to
the Redemption Date to such Holder at such Holder’s last address appearing in
the Security Register for the 2020 Senior Notes.

 

8.
Repurchase of this 2020 Senior Note at the Option of Holders upon Change of
Control Repurchase Event

 

If
a Change of Control Repurchase Event occurs, unless the Obligor has exercised
its right to redeem this 2020 Senior Note as described in the Indenture, the
Obligor shall be required to make an offer to the Holder of this 2020 Senior
Note to repurchase all or any part (in excess of $2,000 and in integral
multiples of $1,000) of this 2020 Senior Note at a repurchase price in cash
equal to 101% of the aggregate principal amount of such percentage of this 2020
Senior Note plus any accrued and unpaid interest on the portion of this 2020
Senior Note so repurchased to, but not including, the date of repurchase, as
provided in, and subject to the terms of, the Indenture.

 

9.
Denominations; Transfer; Exchange

 

2020
Senior Notes may be issued in registered form in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. A Holder may transfer or
exchange this 2020 Senior Note in accordance with the Indenture. Upon any
transfer or exchange, the Obligor and the Trustee may require a Holder, among
other things, to furnish appropriate endorsements or transfer documents and to
pay any taxes required by law or permitted by the Indenture. The Obligor need
not register the transfer of or exchange this 2020 Senior Note if selected for
redemption (except, in the event it will be redeemed in part, the portion not
to be redeemed), or to transfer or exchange this 2020 Senior Note for a period
of 15 days prior to a selection of 2020 Senior Notes to be redeemed.

 

10.
Persons Deemed Owners

 

With
certain exceptions, the registered Holder of this 2020 Senior Note may be
treated as the owner of it for all purposes.

 

 

11.
Unclaimed Money

 

If
money for the payment of principal or interest, if any, remains unclaimed for
two years, the Trustee shall pay the money back to the Obligor at its request.
After any such payment, Holders entitled to the money must look to the Obligor
for payment as unsecured general creditors and the Trustee and the Paying Agent
shall have no further liability with respect to such monies.

 

12.
Discharge and Defeasance

 

Subject
to certain conditions, the Obligor at any time may terminate some of or all its
obligations under this 2020 Senior Note and the Indenture if the Obligor
deposits with the Trustee U.S. dollars or non-callable U.S. Government
Obligations for the payment of principal of, premium, if any, and interest on,
this 2020 Senior Note to redemption or maturity, as the case may be.

 

13.
Amendment, Waiver

 

Subject
to certain exceptions set forth in the Indenture, (i) the Indenture may be
amended under certain circumstances with the written consent of the Holders of
at least a majority in aggregate principal amount of the Outstanding 2020
Senior Notes and (ii) certain defaults may be waived with the written
consent of the Holders of at least a majority in principal amount of the
Outstanding 2020 Senior Notes. Subject to certain exceptions set forth in the
Indenture, without the consent of the Holders of any 2020 Senior Notes, the
Obligor and the Trustee may amend the Indenture: (i) to evidence the
succession of another Person to the Obligor and the assumption by any such
successor of the covenants of the Obligor under the Indenture and the 2020
Senior Notes; (ii) to add to the covenants of the Obligor for the benefit
of Holders of the 2020 Senior Notes or to surrender any right or power
conferred upon the Obligor; (iii) to add any additional events of default
for the benefit of Holders of the 2020 Senior Notes; (iv) to add to or
change any of the provisions of the Indenture as necessary to permit or
facilitate the issuance of 2020 Senior Notes in bearer form, registrable or not
registrable as to principal, and with or without interest coupons, or to permit
or facilitate the issuance of 2020 Senior Notes in uncertificated form; (v) to
secure the 2020 Senior Notes; (vi) to add or appoint a successor or
separate Trustee; (vii) to cure any ambiguity, defect or inconsistency;
(viii) to supplement any of the provisions of the Indenture as necessary
to permit or facilitate the defeasance and discharge of 2020 Senior Notes,
provided that the interests of the holders of the 2020 Senior Notes are not
adversely affected in any material respect; (ix) to make any other change
that would not adversely affect the Holders of the 2020 Senior Notes in any material
respect; (x) to make any change necessary to comply with any requirement
of the Commission in connection with the qualification of the Indenture or any
supplemental Indenture under the TIA; and (xi) to conform the Indenture to
the section entitled “Description of Notes” in the prospectus supplement dated July 13,
2010 relating to the 2020 Senior Notes.

 

14.
Defaults and Remedies

 

If
any Event of Default (other than an Event of Default relating to certain events
of bankruptcy, insolvency or reorganization of the Obligor) with respect to
this 2020 Senior Note occurs and is continuing, then either the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Outstanding
2020 Senior Notes may declare the principal of all Outstanding 2020 Senior
Notes, and the interest to the date of acceleration, if any, accrued thereon,
to be immediately due and payable by notice in writing to the Obligor (and to
the Trustee if given by Holders) specifying the Event of Default. If an Event
of Default relating to a merger or certain events of bankruptcy, insolvency or
reorganization of the Obligor occurs, then the principal amount of all the 2020
Senior Notes then Outstanding and interest accrued thereon, if any, will become
and be immediately due and payable without any declaration or other act on the
part of the Trustee or the Holders of the 2020 Senior Notes, to the full extent
permitted by applicable law.

 

 

Under
certain circumstances, the Holders of a majority in principal amount of the
Outstanding 2020 Senior Notes may rescind any such acceleration with respect to
the 2020 Senior Notes and its consequences.

 

No
Holder of this 2020 Senior Note may institute any action, unless and until:
(i) such Holder has given the Trustee written notice of a continuing Event
of Default with respect to the 2020 Senior Notes; (ii) the Holders of at
least 25% in aggregate principal amount of the Outstanding 2020 Senior Notes
have made a written request to the Trustee to institute proceedings in respect
of such Event of Default in its own name as Trustee hereunder; (iii) such
Holder or Holders has or have offered the Trustee such reasonable indemnity
against the costs, expenses and liabilities to be incurred in compliance with
such request; (iv) the Trustee has failed to institute any such proceeding
for 60 days after its receipt of such notice, request and offer of
indemnity; and (v) no inconsistent direction has been given to the Trustee
during such 60-day period by the Holders of a majority in aggregate principal amount
of the Outstanding 2020 Senior Notes. 
These limitations do not apply to a suit instituted by a Holder of any
2020 Senior Notes for enforcement of payment of the principal of, and premium,
if any, or interest on, such 2020 Senior Notes on or after the respective due
dates expressed in such 2020 Senior Notes.

 

15.
Trustee Dealings with the Obligor

 

Subject
to certain limitations imposed by the TIA, the Trustee under the Indenture, in
its individual or any other capacity, may become the owner or pledgee of this
2020 Senior Note and may otherwise deal with the Obligor with the same rights
it would have if it were not Trustee.

 

16.
Authentication

 

This
2020 Senior Note shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of
authentication on the other side of this 2020 Senior Note.

 

17.
Governing Law

 

THIS 2020 SENIOR NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

18.
CUSIP and ISIN Numbers

 

The
Obligor has caused CUSIP and ISIN numbers to be printed on this 2020 Senior
Note and has directed the Trustee to use CUSIP and ISIN numbers in notices of
redemption as a convenience to Holders. No representation is made as to the
accuracy of such numbers either as printed on this 2020 Senior Note or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

 

The Obligor will furnish to any Holder of this 2020 Senior
Note upon written request and without charge to the Holder a copy of the
Indenture which has in it the text of this 2020 Senior Note.

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