Document:

EX-4.2

 Exhibit 4.2 
  

 
  

FIRST SUPPLEMENTAL INDENTURE 

BETWEEN 
 CHEVRON
CORPORATION, As Issuer 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, As Trustee 

Dated as of May 11, 2020 
  

 
  

 TABLE OF CONTENTS 

 

							
	 Article One DEFINITIONS
	  	 	1	 
			
	 Section 1.01
	  	 Definitions
	  	 	1	
	 Section 1.02
	  	 Other Definitions
	  	 	8	
		
	 Article Two TERMS OF THE NOTES
	  	 	8	 
			
	 Section 2.01
	  	 Each of the 2023 Fixed Rate Notes, the 2023 Floating Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate
Notes, the 2030 Fixed Rate Notes, the 2040 Fixed Rate Notes, and the 2050 Fixed Rate Notes Constitutes a series of Securities
	  	 	8	
	 Section 2.02
	  	 Terms and Provisions of the Notes
	  	 	8	
		
	 Article Three MISCELLANEOUS PROVISIONS
	  	 	12	 
			
	 Section 3.01
	  	 Provisions of the Indenture
	  	 	12	
	 Section 3.02
	  	 Calculation Agent .
	  	 	12	
	 Section 3.03
	  	 Separability of Invalid Provisions
	  	 	13	
	 Section 3.04
	  	 Execution in Counterparts
	  	 	13	
	 Section 3.05
	  	 Trustee’s Disclaimer
	  	 	13	
	 Section 3.06
	  	 Effectiveness
	  	 	13	
	 Section 3.07
	  	 Tax Matters
	  	 	13	
			
	 Signatures
	  		  			
			
	 Exhibits
	  		  			
		
	 Exhibit A – Form of 2023 Fixed Rate Note
	  			
	 Exhibit B – Form of 2023 Floating Rate Note
	  			
	 Exhibit C – Form of 2025 Fixed Rate Note
	  			
	 Exhibit D – Form of 2027 Fixed Rate Note
	  			
	 Exhibit E – Form of 2030 Fixed Rate Note
	  			
	 Exhibit F – Form of 2040 Fixed Rate Note
	  			
	 Exhibit G – Form of 2050 Fixed Rate Note
	  			

 FIRST SUPPLEMENTAL INDENTURE 

THIS FIRST SUPPLEMENTAL INDENTURE, dated as of May 11, 2020, between CHEVRON CORPORATION, a Delaware corporation, as Issuer
(“Chevron”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York State banking corporation, as Trustee (the “Trustee”). 

W I T N E S S E T H: 

WHEREAS, Chevron and the Trustee have entered into that certain Indenture dated as of May 11, 2020 (the “Indenture”);

 WHEREAS, pursuant to the provisions of Section 3.1 of the Indenture, Chevron wishes to enter into this First Supplemental
Indenture to establish the terms and provisions of six series of Securities (as defined in the Indenture); 
 WHEREAS, in compliance
with the requirements of the Indenture, Chevron has duly authorized the execution and delivery of this First Supplemental Indenture, and all things necessary have been done to make this First Supplemental Indenture a valid agreement of Chevron in
accordance with its terms: 
 NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH: 

That in consideration of the premises, Chevron covenants and agrees with the Trustee, for the equal and proportionate benefit of the
respective holders from time to time of the Securities, as follows: 
 Article One 

DEFINITIONS 

Section 1.01    Definitions. The terms defined in this Section 1.01 shall,
for all purposes of the Indenture and this First Supplemental Indenture have the meanings herein specified, unless the context clearly otherwise requires. 

(A)    2023 Fixed Rate Notes 

The term “2023 Fixed Rate Notes” shall mean the $1,200,000,000 in aggregate principal amount 1.141% Notes Due 2023. 

(B)    2023 Floating Rate Notes 

The term “2023 Floating Rate Notes” shall mean the $300,000,000 in aggregate principal amount Floating Rate Notes Due 2023. 

(C)    2023 Notes 

The term “2023 Notes” shall mean the 2023 Floating Rate Notes and the 2023 Fixed Rate Notes. 

(D)    2025 Fixed Rate Notes 

The term “2025 Fixed Rate Notes” shall mean the $2,500,000,000 in aggregate principal amount 1.554% Notes Due 2025. 

(E)    2025 Notes 

  
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 The term “2025 Notes” shall mean the 2025 Fixed Rate Notes. 

(F)    2027 Fixed Rate Notes 

The term “2027 Fixed Rate Notes” shall mean the $1,000,000,000 in aggregate principal amount 1.995% Notes Due 2027. 

(G)    2027 Notes 

The term “2027 Notes” shall mean the 2027 Fixed Rate Notes. 

(H)    2030 Fixed Rate Notes 

The term “2030 Fixed Rate Notes” shall mean the $1,500,000,000 in aggregate principal amount 2.236% Notes Due 2030. 

(I)    2030 Notes 

The term “2030 Notes” shall mean the 2030 Fixed Rate Notes. 

(J)    2040 Fixed Rate Notes 

The term “2040 Fixed Rate Notes” shall mean the $500,000,000 in aggregate principal amount 2.978% Notes Due 2040. 

(K)    2040 Notes 

The term “2040 Notes” shall mean the 2040 Fixed Rate Notes. 

(L)    2050 Fixed Rate Notes 

The term “2050 Fixed Rate Notes” shall mean the $1,000,000,000 in aggregate principal amount 3.078% Notes Due 2050. 

(M)    2050 Notes 

The term “2050 Notes” shall mean the 2050 Fixed Rate Notes. 

(N)    Adjusted Treasury Rate 

The term “Adjusted Treasury Rate” shall mean (1) the arithmetic mean of the yields under the heading “Week Ending”
published in the Statistical Release most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the
Redemption Date, of the Notes being redeemed plus (2) 0.15% for the 2023 Fixed Rate Notes, 0.20% for the 2025 Fixed Rate Notes, 0.25% for the 2027 Fixed Rate Notes, 0.25% for the 2030 Fixed Rate Notes, 0.25% for the 2040 Fixed Rate Notes, and
0.30% for the 2050 Fixed Rate Notes. If no maturity set forth under such heading exactly corresponds to the remaining term of a series of Notes being redeemed, yields for the two published maturities most closely corresponding to the remaining term
of the series of Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant periods to
the nearest month. The Adjusted Treasury Rate is to be determined on the third Business Day preceding the applicable Redemption Date. 

(O)    Benchmark 

The term “Benchmark” means, initially, three-month U.S. dollar LIBOR; provided that if a Benchmark Transition Event and its
related Benchmark Replacement Date have occurred with respect to three month U.S. dollar LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. 

  
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 (P)    Benchmark Replacement 

The term “Benchmark Replacement” means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark
Replacement Adjustment for such Benchmark; provided that if Chevron or its Designee cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date, then “Benchmark Replacement” means the first alternative set forth
in the order below that can be determined by Chevron or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the sum of (a) Term SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(2)	 the sum of (a) Compounded SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(3)	 the sum of (a) the alternate rate of interest that has been selected or recommended by the Relevant
Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment; 

  

	 	(4)	 the sum of (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

  

	 	(5)	 the sum of (a) the alternate rate of interest that has been selected by Chevron or its Designee as the
replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at
such time and (b) the Benchmark Replacement Adjustment. 

 (Q)    Benchmark Replacement
Adjustment 
 The term “Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be
determined by Chevron or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive
or negative value or zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement; 

  

	 	(2)	 if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA
Fallback Adjustment; and 

  

	 	(3)	 the spread adjustment (which may be a positive or negative value or zero) that has been selected by Chevron or
its Designee giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement
for U.S. dollar-denominated floating rate notes at such time. 

 (R)    Benchmark Replacement
Conforming Changes 
 The term “Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any
technical, administrative or operational changes (including changes to the definition of “interest period,” timing and frequency of determining rates and making payments of interest, rounding of amounts or tenors, changes to the definition
of “Corresponding Tenor” solely when such tenor is longer than the interest period and other administrative matters) that Chevron or its Designee decide may be appropriate to reflect the adoption of such Benchmark Replacement in a manner
substantially consistent with market practice (or, if Chevron or its Designee decide that adoption of any portion of such market practice is not administratively feasible or if we or our Designee determine that no market practice for use of the
Benchmark Replacement exists, in such other manner as Chevron or its Designee determine is reasonably necessary). 

  
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 (S)    Benchmark Replacement Date 

The term “Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current
Benchmark: 
  

	 	(1)	 in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; and

  

	 	(2)	 in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the
public statement or publication of information referenced therein. 

 For the avoidance of doubt, if the event giving rise to the
Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination. 

(T)    Benchmark Replacement Transition Event 

The term “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current
Benchmark: 
  

	 	(1)	 a public statement or publication of information by or on behalf of the administrator of the Benchmark
announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide
the Benchmark; 

  

	 	(2)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an
entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely; provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or 

  

	 	(3)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark announcing that the Benchmark is no longer representative. 

 (U)    Blanket Issuer Letter
of Representations 
 The term “Blanket Issuer Letter of Representations” shall mean the Blanket Issuer Letter of Representations,
dated February 25, 2009, executed by and between Chevron and The Depository Trust Company. 

  
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 (V)    Calculation Agent 

The term “Calculation Agent” shall mean Deutsche Bank Trust Company Americas, until a successor replaces it pursuant to the
applicable provisions of the Indenture and, thereafter, shall mean such successor. 
 (W)    Compounded SOFR 

The term “Compounded SOFR” means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or
methodology for this rate, and conventions for this rate being established by Chevron or its Designee in accordance with: 
  

	 	(1)	 the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; provided that: 

  

	 	(2)	 if and to the extent that Chevron or its Designee determine that Compounded SOFR cannot be determined in
accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by Chevron or its Designee giving due consideration to any industry-accepted market practice for U.S.
dollar-denominated floating rate notes at such time. 

 For the avoidance of doubt, the calculation of Compounded SOFR shall exclude the
Benchmark Replacement Adjustment and the margin specified in the definition of LIBOR above. 
 (X)    Corresponding
Tenor 
 The term “Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having
approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark. 

(Y)    Designee 

The term “Designee” means the designee of Chevron, which may be the Calculation Agent (only if the Calculation Agent is not the
Trustee), a successor calculation agent, or other designee of Chevron’s. 
 (Z)    First Supplemental Indenture

 The term “First Supplemental Indenture” shall mean this First Supplemental Indenture, dated as of May 11, 2020, between
Chevron and the Trustee, as such is originally executed, or as it may from time to time be supplemented, modified or amended, as provided herein and in the Indenture. 

(AA)    Fixed Rate Notes 

The term “Fixed Rate Notes” shall mean the 2023 Fixed Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate Notes, the 2030
Fixed Rate Notes, the 2040 Fixed Rate Notes, and the 2050 Fixed Rate Notes. 
 (BB)    Floating Rate Notes 

The term “Floating Rate Notes” shall mean the 2023 Floating Rate Notes. 

(CC)    Indenture 

The term “Indenture” shall mean the Indenture, dated as of May 11, 2020, between Chevron and the Trustee, as it may from time
to time hereafter be further supplemented, modified or amended, as provided in the Indenture. 
 (DD)    Interest
Determination Date 
 The term “Interest Determination Date” for the Floating Rate Notes shall mean, with respect to the initial
Interest Period, May 11, 2020, and for each subsequent Interest Period, the second London Business Day preceding the first day of such Interest Period. 

(EE)    Interest Payment Dates 

The term “Interest Payment Dates” shall mean (i) each May 11 and November 11, commencing November 11, 2020, with
respect to the Fixed Rate Notes, and (ii) each February 11, May 11, August 11 and November 11, commencing August 11, 2020, with respect to the Floating Rate Notes. If any Interest Payment Date for a series of Floating
Rate Notes falls on a date that is not a Business Day, the applicable interest payment will be made on the next Business Day, except that if that Business Day is in the immediately 

  
 5 

 
succeeding calendar month, the interest payment will be made on the next preceding Business Day, in each case with interest accruing to the applicable Interest Payment Date as so adjusted. If any
interest payment date for a series of Fixed Rate Notes falls on a date that is not a Business Day, the applicable interest payment will be made on the next Business Day, and no interest shall accrue on the amount of interest due on that interest
payment date for the period from and after such interest payment date to the next Business Day. 
 (FF)    Interest
Period 
 The term “Interest Period” shall mean for each series of Floating Rate Notes the period commencing on the applicable
Interest Payment Date (or, in the case of the initial Interest Period, commencing on May 11, 2020) and ending on the day preceding the next Interest Payment Date. The initial Interest Period for the Floating Rate Notes is May 11, 2020
through August 10, 2020. 
 (GG)    Interest Reset Date 

The term “Interest Reset Date” shall mean for each series of Floating Rate Notes, the first day of each Interest Period other than
the initial Interest Period. 
 (HH)    Interpolated Benchmark 

The term “Interpolated Benchmark” with respect to the Benchmark means the rate determined for the Corresponding Tenor by
interpolating on a linear basis between (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is
available) that is longer than the Corresponding Tenor. 
 (II)    ISDA Definitions 

The term “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc.
or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. 

(JJ)    ISDA Fallback Adjustment 

The term “ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply
for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. 

(KK)    ISDA Fallback Rate 

The term “ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be
effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor, excluding the applicable ISDA Fallback Adjustment. 

(LL)    LIBOR 

Subject to the Benchmark Transition Provisions (as defined below), “LIBOR” will be determined by the Calculation Agent in accordance
with the following provisions: 
 (i) With respect to any Interest Determination Date, LIBOR will be the rate for deposits in United States
dollars having a maturity of three months commencing on the first day of the applicable Interest Period that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on that Interest Determination Date. If no rate appears, then LIBOR,
in respect of that Interest Determination Date, will be determined in accordance with the provisions described in (ii) below. 
 (ii)
With respect to an Interest Determination Date on which no rate appears on Reuters Screen LIBOR01 Page, as specified in (i) above, the Calculation Agent will request the principal London offices of each of four major reference banks in the
London interbank market, as selected by Chevron, to provide the Calculation Agent with its offered quotation for deposits in United States dollars for the period of three months, 

  
 6 

 
commencing on the first day of the applicable Interest Period, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a
principal amount that is representative for a single transaction in United States dollars in that market at that time. If at least two quotations are provided, then LIBOR on that Interest Determination Date will be the arithmetic mean of those
quotations. If fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m., in The City of New York, on the Interest Determination Date by three
major banks in The City of New York selected by Chevron for loans in United States dollars to leading European banks, having a three-month maturity and in a principal amount that is representative for a single transaction in United States dollars in
that market at that time; provided that if the banks selected by Chevron are not providing quotations in the manner described by this sentence, LIBOR will be the same as the rate determined for the immediately preceding Interest Reset Date or if
there is no immediately preceding Interest Reset Date, LIBOR will be the same as the rate determined for the initial Interest Period. With respect to each Determination Date on which the Calculation Agent, in consultation with Chevron, calculates
LIBOR using quotations from reference banks, upon the receipt of such quotations the Calculation Agent shall notify Chevron of the identity of each such reference bank and the quotation provided by each such reference bank. 

(MM)    London Business Day 

The term “London Business Day” shall mean any day on which dealings in United States dollars are transacted on the London interbank
market. 
 (NN)    Notes 

The term “Notes” shall mean the 2023 Fixed Rate Notes, the 2023 Floating Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate
Notes, the 2030 Fixed Rate Notes, the 2040 Fixed Rate Notes, and the 2050 Fixed Rate Notes. 
 (OO)    Reference Time

 The term “Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is three-month
U.S. dollar LIBOR, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such determination, and (2) if the Benchmark is not three-month U.S. dollar LIBOR, the time determined by Chevron or its Designee in
accordance with the Benchmark Replacement Conforming Changes. 
 (PP)    Relevant Governmental Body 

The term “Relevant Governmental Body” means the Federal Reserve Board and/or the NY Federal Reserve, or a committee officially
endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto. 

(QQ)    Reuters Screen LIBOR01 Page 

The term “Reuters Screen LIBOR01 Page” shall mean the display designated on page “LIBOR01” on Reuters (or such other page
as may replace the LIBOR01 page on that service or any successor service for the purpose of displaying London interbank offered rates for U.S. dollar deposits of major banks). 

(RR)    SOFR 

The term “SOFR” with respect to any day means the secured overnight financing rate published for such day by the NY Federal Reserve,
as the administrator of the benchmark, or a successor administrator, on the website of the NY Federal Reserve at http://www.newyorkfed.org, or any successor source. 

(SS)    Statistical Release 

The term “Statistical Release” shall mean the statistical release designation “H.15” or any successor publication which is
published weekly by the Federal Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination
under the terms of the Notes, then such other reasonably comparable index as Chevron shall designate. 

  
 7 

 (TT)    Term SOFR 

The term “Term SOFR” means the forward-looking term rate for the applicable Corresponding Tenor based on SOFR that has been selected
or recommended by the Relevant Governmental Body. 
 (UU)    Trustee 

The term “Trustee” shall mean Deutsche Bank Trust Company Americas, until a successor replaces it pursuant to the applicable
provisions of the Indenture and, thereafter, shall mean such successor. 
 (VV)    Unadjusted Benchmark Replacement 

The term “Unadjusted Benchmark Replacement” means the Benchmark Replacement, excluding the Benchmark Replacement Adjustment. 

Section 1.02    Other Definitions. All of the terms appearing herein shall be
defined as the same are now defined under the provisions of the Indenture, except when expressly herein or otherwise defined. 
 Article
Two 
 TERMS OF THE NOTES 

Section 2.01    Each of the 2023 Fixed Rate Notes, the 2023 Floating Rate Notes, the 2025
Fixed Rate Notes, the 2027 Fixed Rate Notes, the 2030 Fixed Rate Notes, the 2040 Fixed Rate Notes, and the 2050 Fixed Rate Notes Constitutes a series of Securities. Each of the 2023 Fixed Rate Notes, the 2023 Floating Rate Notes, the 2025
Fixed Rate Notes, the 2027 Fixed Rate Notes, the 2030 Fixed Rate Notes, the 2040 Fixed Rate Notes, and the 2050 Fixed Rate Notes are hereby authorized to be issued under the Indenture as a series of Securities. The 2023 Fixed Rate Notes shall be in
the aggregate principal amount of U.S.$1,200,000,000. The 2023 Floating Rate Notes shall be in the aggregate principal amount of U.S.$300,000,000. The 2025 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$2,500,000,000. The 2027
Fixed Rate Notes shall be in the aggregate principal amount of U.S.$1,000,000,000. The 2030 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$1,500,000,000. The 2040 Fixed Rate Notes shall be in the aggregate principal amount of
U.S.$500,000,000. The 2050 Fixed Rate Notes shall be in the aggregate principal amount of U.S.$1,000,000,000. 

Section 2.02    Terms and Provisions of the Notes. The Notes shall be subject to
the terms and provisions hereinafter set forth: 
  

	 	(A)	 The 2023 Fixed Rate Notes shall be designated as the 1.141% Notes Due 2023. The 2023 Floating Rate Notes shall
be designated as the Floating Rate Notes Due 2023. The 2025 Fixed Rate Notes shall be designated as the 1.554% Notes Due 2025. The 2027 Fixed Rate Notes shall be designated as the 1.995% Notes Due 2027. The 2030 Fixed Rate Notes shall be designated
as the 2.236% Notes Due 2030. The 2040 Fixed Rate Notes shall be designated as the 2.978% Notes Due 2040. The 2050 Fixed Rate Notes shall be designated as the 3.078% Notes Due 2050. 

 

	 	(B)	 The Notes shall bear interest on the unpaid principal amount thereof from May 11, 2020.

  

	 	(C)	 The 2023 Notes shall mature on May 11, 2023. The 2025 Notes shall mature on May 11, 2025. The 2027
Notes shall mature on May 11, 2027. The 2030 Notes shall mature on May 11, 2030. The 2040 Notes shall mature on May 11, 2040. The 2050 Notes shall mature on May 11, 2050. 

  
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	 	(D)	 The 2023 Fixed Rate Notes shall bear interest at the rate of 1.141% per annum, payable on November 11,
2020 and on each May 11 and November 11 thereafter. The 2025 Fixed Rate Notes shall bear interest at the rate of 1.554% per annum, payable on November 11, 2020 and on each May 11 and November 11 thereafter. The 2027 Fixed
Rate Notes shall bear interest at the rate of 1.995% per annum, payable on November 11, 2020 and on each May 11 and November 11 thereafter. The 2030 Fixed Rate Notes shall bear interest at the rate of 2.236% per annum, payable on
November 11, 2020 and on each May 11 and November 11 thereafter. The 2040 Fixed Rate Notes shall bear interest at the rate of 2.978% per annum, payable on November 11, 2020 and on each May 11, and November 11
thereafter. The 2050 Fixed Rate Notes shall bear interest at the rate of 3.078% per annum, payable on November 11, 2020 and on each May 11 and November 11 thereafter. 

 

	 	(E)	 The Floating Rate Notes shall bear interest at a variable rate from May 11, 2020. The interest rate for
the Floating Rate Notes for a particular Interest Period will be a per annum rate equal to LIBOR as determined on the applicable Interest Determination Date as determined by the Calculation Agent, plus 0.90%. The interest rate on the Floating Rate
Notes for each Interest Period shall be reset (or in the case of the initial Interest Period, set) on each Interest Reset Date. Additionally, the interest rate on the floating rate notes will in no event be lower than zero. 

Notwithstanding the foregoing paragraph, if Chevron or its Designee determine on or prior to the relevant Interest Determination Date that a
Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, then (i) Chevron shall promptly provide written notice of such determination to the Calculation Agent and
(ii) the provisions set forth below under the heading “Effect of Benchmark Transition Event” (the “Benchmark Transition Provisions”) will thereafter apply to all determinations, calculations and quotations made or obtained
for the purposes of calculating the rate and amount of interest payable on the Floating Rate Notes during a relevant Interest Period. In accordance with the benchmark transition provisions, after a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred, the amount of interest that will be payable for each Interest Period on the Floating Rate Notes will be a rate per annum equal to the sum of the Benchmark Replacement and the margin of 0.90%, as determined
by Chevron or its Designee provided, however, that the minimum interest rate on the Floating Rate Notes shall not be less than 0.000%. 

However, if Chevron or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with
respect to the then-current Benchmark, but for any reason the Benchmark Replacement has not been determined as of the relevant Interest Determination Date, the interest rate for the applicable Interest Period will be equal to the interest rate on
the last Interest Determination Date for the Floating Rate Notes, as determined by Chevron or its Designee. 
 All percentages resulting
from any calculation of any interest rate for the Floating Rate Notes will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five one-millionths of a percentage point
being rounded upwards (e.g., 8.986865% (or 0.08986865) being rounded to 8.98687% (or 0.0898687)) and all dollar amounts used in or resulting from such calculations will be rounded to the nearest cent (with
one-half cent being rounded upwards). 
 The interest rate on the Floating Rate Notes will in no
event be higher than the maximum rate permitted by New York law as the same may be modified by United States laws of general application. Additionally, the interest rate on the Floating Rate Notes will in no event be lower than zero. 

The Calculation Agent will, upon the request of any holder of the Floating Rate Notes, provide the interest rate then in effect with respect
to the Floating Rate Notes and, if it has been determined, the interest rate to be in effect for the next Interest Period. The Calculation Agent 

  
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shall calculate the interest rate in accordance with the foregoing and shall notify the Trustee or paying agent of such interest rate. All calculations of the Calculation Agent, in the absence of
manifest error, shall be conclusive for all purposes and binding on Chevron and holders of the Floating Rate Notes and neither the Trustee nor any paying agent shall have the duty to verify determinations of interest rates made by the Calculation
Agent. 
 Effect of Benchmark Transition Event: 

Benchmark Replacement. If Chevron or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Floating Rate Notes in respect of such
determination on such date and all determinations on all subsequent dates. 
 Benchmark Replacement Conforming Changes. In connection
with the implementation of a Benchmark Replacement, Chevron or its Designee will have the right to make Benchmark Replacement Conforming Changes from time to time. 

Decisions and Determinations. Any determination, decision, election or calculation that may be made by Chevron or its Designee pursuant
to the benchmark transition provisions described herein, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any
decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, may be made in Chevron or its Designee’s sole discretion and notwithstanding anything to the contrary in any
documentation relating to the Floating Rate Notes, shall become effective without consent from the holders of the Floating Rate Notes or any other party. 
  

	 	(F)	 Each of the 2023 Fixed Rate Notes, the 2023 Floating Rate Notes, the 2025 Fixed Rate Notes, the 2027 Fixed Rate
Notes, the 2030 Fixed Rate Notes, the 2040 Fixed Rate Notes and the 2050 Fixed Rate Notes shall be issued initially as one or more Global Securities (the “Global Notes”) in registered form registered in the name of The Depository Trust
Company or its nominee in such denominations as are required by the Blanket Issuer Letter of Representations and otherwise as in substantially the form set forth in Exhibit A, Exhibit B, Exhibit C, Exhibit D, Exhibit E, Exhibit F, and Exhibit G to
this First Supplemental Indenture with such minor changes thereto as may be required in the process of printing or otherwise producing the Global Notes but not affecting the substance thereof. 

 

	 	(G)	 The Depositary for the Notes shall be The Depository Trust Company. 

 

	 	(H)	 The Global Notes shall be exchangeable for definitive Notes in registered form substantially the same as the
Global Notes in denominations of $2,000 and integral multiples of $1,000 in excess thereof upon the terms and in accordance with the provisions of the Indenture. Interest on the Floating Rate Notes will be calculated on the basis of the actual
number of days in each quarterly interest period and a 360-day year. The Fixed Rate Notes will be computed on the basis of a 360-day year of twelve 30-day months. 

  

	 	(I)	 The Notes shall be payable (as to both principal and interest) when and as the same become due at the office of
the Trustee; provided that as long as the Notes are in the form of one or more Global Notes, payments of interest may be made by wire transfer in accordance with the provisions of the Indenture and such Global Notes; and provided
further that upon any exchange of the Global Notes for Notes in definitive form, Chevron elects to exercise its option to have interest payable by check mailed to the registered owners at such owners’ addresses as they appear on the
Register, as kept by the Trustee, on each relevant Record Date. 

  
 10 

	 	(J)	 The Trustee shall be the registrar for the Notes and the Register of the Notes shall be kept at the principal
office of the Trustee. 

  

	 	(K)	 Chevron hereby appoints the Trustee as the Calculation Agent in connection with the Notes. The Trustee shall be
the Calculation Agent until a successor replaces it pursuant to the applicable provisions of the Indenture and, thereafter, Calculation Agent shall mean such successor. 

 

	 	(L)	 The Record Date for the Notes shall be the fifteenth day preceding the relevant Interest Payment Date.

  

	 	(M)	 The 2023 Fixed Rate Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any
time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2023 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not
including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2023 Fixed Rate Notes being redeemed to, but not including, the Redemption Date. 

 

	 	(N)	 Prior to April 11, 2025, the 2025 Fixed Rate Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2025 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2025 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after April 11, 2025, the 2025 Fixed Rate Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2025 Fixed
Rate Notes being redeemed plus interest accrued on the 2025 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(O)	 Prior to March 11, 2027, the 2027 Fixed Rate Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2027 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2027 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after March 11, 2027, the 2027 Fixed Rate Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2027 Fixed
Rate Notes being redeemed plus interest accrued on the 2027 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(P)	 Prior to February 11, 2030, the 2030 Fixed Rate Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2030 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2030 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after February 11, 2030, the 2030 Fixed Rate Notes shall be subject 

  
 11 

	 	
to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2030 Fixed Rate Notes being redeemed plus interest
accrued on the 2030 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(Q)	 Prior to November 11, 2039, the 2040 Fixed Rate Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2040 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2040 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after November 11, 2039, the 2040 Fixed Rate Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2040
Fixed Rate Notes being redeemed plus interest accrued on the 2040 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(R)	 Prior to November 11, 2049, the 2050 Fixed Rate Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the 2050 Fixed Rate Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a
360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the 2050 Fixed Rate Notes being redeemed to, but not including,
the redemption date. On or after November 11, 2049, the 2050 Fixed Rate Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the 2050
Fixed Rate Notes being redeemed plus interest accrued on the 2050 Fixed Rate Notes being redeemed to, but not including, the redemption date. 

  

	 	(S)	 The Floating Rate Notes shall not be redeemable prior to maturity. 

Article Three 

MISCELLANEOUS PROVISIONS 

Section 3.01    Provisions of the Indenture. Except insofar as herein otherwise
expressly provided, all of the definitions, provisions, terms and conditions of the Indenture shall be deemed to be incorporated in and made a part of this First Supplemental Indenture; and the Indenture and this First Supplemental Indenture is in
all respects ratified and confirmed, and the Indenture and this First Supplemental Indenture shall be read, taken and considered as one and the same instrument. 

Section 3.02    Calculation Agent. It is understood that all the rights, protections and
immunities, including the right to indemnification, extended to the Trustee pursuant to the Indenture shall be applicable to the Calculation Agent under this First Supplemental Indenture as if fully set forth herein. 

  
 12 

 Section 3.03    Separability of Invalid
Provisions. In case any one or more of the provisions contained in this First Supplemental Indenture shall be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provisions contained in this First Supplemental Indenture, and to the extent and only to the extent that any such provision is invalid, illegal or unenforceable, this First Supplemental Indenture shall be construed as if such provision had never
been contained herein. 
 Section 3.04    Execution in Counterparts. This First
Supplemental Indenture may be simultaneously executed and delivered in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original. The exchange of copies of this First Supplemental Indenture and of
signature pages by facsimile, electronic or PDF transmission shall constitute effective execution and delivery of this First Supplemental Indenture as to the parties hereto and may be used in lieu of the original First Supplemental Indenture and
signature pages for all purposes. 
 Section 3.05    Trustee’s
Disclaimer. The Trustee accepts the amendments of the Indenture effected by this First Supplemental Indenture, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the
liabilities and responsibilities of the Trustee. Without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which
recitals or statements are made solely by Chevron, or for or with respect to (i) the validity or sufficiency of this First Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof by Chevron by
action or otherwise, (iii) the due execution hereof by Chevron or (iv) the consequences of any amendment herein provided for, and the Trustee makes no representation with respect to any such matters. 

Section 3.06    Effectiveness. The obligations of the parties hereto shall become
effective as of the date of this First Supplemental Indenture. 
 Section 3.07    Tax
Matters. In order to comply with applicable tax laws, rules and regulations (inclusive of directives, guidelines and interpretations promulgated by competent authorities) in effect from time to time (“Applicable Tax Law”) that Chevron,
the Trustee or the applicable paying agent is subject to related to the Notes, Chevron agrees (i) if reasonably requested by the Trustee, to provide to the Trustee such information as it may have in its possession about Holders or the Notes
(including any modification to the terms of the Notes) so that the Trustee can determine whether it has tax related obligations under Applicable Tax Law and (ii) that the Trustee shall be entitled to make any withholding or deduction from
payments under the Notes to the extent necessary to comply with Applicable Tax Law for which the Trustee shall not have any liability. 
 In connection with
any proposed transfer of Notes outside the book entry system, Chevron shall be required to provide or cause to be provided to the Trustee such information as it may have in its possession that is reasonably requested by the Trustee and necessary to
allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on any such information provided to it
and shall have no responsibility to verify or ensure the accuracy of such information. 
 Notwithstanding anything in this Section 3.06
to the contrary, Chevron shall not be required to provide information if it reasonably determines that doing so would violate any applicable law, regulation or confidentiality obligations. 

[remainder of this page intentionally left blank] 

  
 13 

 IN WITNESS WHEREOF, CHEVRON CORPORATION and DEUTSCHE BANK TRUST COMPANY
AMERICAS have each caused this First Supplemental Indenture to be duly executed, all as of the day and year first written above. 
  

			
	CHEVRON CORPORATION
		
	By:	 	 /s/ ERIC A. BENSON

	Name: Eric A. Benson
	Title: Assistant Treasurer
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
		
	By:	 	 /s/ ANNIE V. JAGHATSPANYAN

	Name: Annie V. Jaghatspanyan
	Title: Vice President
		
	By:	 	 /s/ DEBRA SCHWALB

	Name: Debra Schwalb
	Title: Vice President

 [Signature Page to First Supplemental Indenture] 

 Exhibit A 

 

					
	$[            ]	  	 	CUSIP:                     	 
	N-1	  	 	ISIN:                     	 

 CHEVRON CORPORATION 

    % NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ] ) on May     ,              in lawful money of the United States of
America and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from May     , 2020 or
from the most recent Interest Payment Date (hereinafter defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of     % per annum, payable on each
                     and
                    , commencing
                    , 2020 (the “Interest Payment Dates”). 

The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company Americas,
as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at such
person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
 Dated: May
    , 2020 
  

			
	CHEVRON CORPORATION

 
			
		
	By:	 	  

	Name:
	Title:
		 	

  

					
			
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 

  
 A-1 

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 A-2 

 CHEVRON CORPORATION 

    % NOTE DUE          

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May __, 2020, as amended by the First Supplemental Indenture dated as of May     , 2020 (such indenture as
so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its “    % Notes Due
            ” aggregating $                     in principal amount
(herein called the “Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a
description of the rights, obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees.
The Indenture contains provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities
of Chevron, authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture
shall, without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal
of or interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable
upon a declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on
which any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of
any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 The Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any time at a redemption
price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including the portion of any such
payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve
30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The “Adjusted Treasury Rate” is to be determined on the
third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release (hereinafter defined) most recently published prior to the date of
determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable redemption date, of the Notes being redeemed plus (2)
    %. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to the remaining term of
the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant period to the nearest
month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on actively-traded United
States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as Chevron shall designate. As
provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for redemption, to their addresses
as they appear on the register books. 
 If an Event of Default (as that term is defined in the Indenture) shall occur, the principal of all
Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration and its consequences may be
waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 
 The Notes are issuable in registered
form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office
of the Trustee by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations and upon payment of the
charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the
transferee in exchange herefor. 
 Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent may treat the
registered owner hereof as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the purpose of
receiving payment hereof or on account hereof and for all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 

  
 A-3 

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

  
 A-4 

 Exhibit B 

 

					
	$[            ]	  	 	CUSIP:                     	 
	N-1	  	 	ISIN:                     	 

 CHEVRON CORPORATION 

FLOATING RATE NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE EVIDENCING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ]) on May     ,              in lawful money of the United States of
America. 
 The
                     Floating Rate Notes shall bear interest at a variable rate from May     , 2020, payable on
each                     ,
                    ,
                     and
                    , commencing             , 2020 (each an
“Interest Payment Date”). If any Interest Payment Date for the              Floating Rate Notes falls on a date that is not a Business Day, the applicable interest payment
will be made on the next Business Day, except that if that Business Day is in the immediately succeeding calendar month, the interest payment will be made on the next preceding Business Day, in each case with interest accruing to the applicable
Interest Payment Date as so adjusted. The interest rate for the                      Floating Rate Notes for a particular Interest Period (as
defined below) will be a per annum rate equal to LIBOR (as defined below) as determined on the applicable Interest Determination Date (as defined below) by the calculation agent appointed by the Company, which initially will be the Trustee (the
“Calculation Agent”), plus     %. The interest rate on the                      Floating Rate Notes shall
be reset on the first day of each Interest Period other than the initial Interest Period (each an “Interest Reset Date”). An interest period is the period commencing on an Interest Payment Date (or, in the case of the initial Interest
Period, commencing on May     , 2020) and ending on the day preceding the next Interest Payment Date (each an “Interest Period”). The initial Interest Period is May     , 2020 through
            , 2020. The interest determination date for an Interest Period will be the second London Business Day preceding the first day of such Interest Period (the
“Interest Determination Date”). The Interest Determination Date for the initial interest period will be May     , 2020. Interest on the
                     Floating Rate Notes will be calculated on the basis of the actual number of days in each quarterly interest period and a 360-day year. 
 Subject to the Benchmark Transition Provisions (as defined below), “LIBOR” will
be determined by the Calculation Agent in accordance with the following provisions: 
 (i) with respect to any Interest Determination Date,
LIBOR will be the rate for deposits in United States dollars having a maturity of three months commencing on the first day of the applicable Interest Period that appears on Reuters Screen LIBOR01 Page as of 11:00 a.m., London time, on that Interest
Determination Date. If no rate appears, then LIBOR, in respect of that Interest Determination Date, will be determined in accordance with the provisions described in (ii) below. 

(ii) with respect to an Interest Determination Date on which no rate appears on Reuters Screen LIBOR01 Page, as specified in (i) above,
the Calculation Agent will request the principal London offices of each of four major reference banks in the London interbank market, as selected by Chevron, to provide the Calculation Agent with its offered quotation for deposits in United States
dollars for the period of three months, commencing on the first day of the applicable Interest Period, to prime banks in the London interbank market at approximately 11:00 a.m., London time, on that Interest Determination Date and in a principal
amount that is representative for a single transaction in United States dollars in that market at that time. If at least two quotations are provided, then LIBOR on that Interest Determination Date will be the arithmetic mean of those quotations. If
fewer than two quotations are provided, then LIBOR on the Interest Determination Date will be the arithmetic mean of the rates quoted at approximately 11:00 a.m., in The City of New York, on the Interest Determination Date by three major banks in
The City of New York selected by Chevron for loans in United States dollars to leading European banks, having a three-month maturity and in a principal amount that is representative for a single transaction in United States dollars in that market at
that time; provided that if the banks selected by Chevron are not providing quotations in the manner described by this sentence, LIBOR will be the same as the rate determined for the immediately preceding interest reset date or if there is no
immediately preceding interest reset date, LIBOR will be the same as the rate determined for the initial Interest Period. 

  
 B-1 

 “London Business Day” means any day on which dealings in United States dollars are
transacted on the London interbank market. 
 “Reuters Screen LIBOR01 Page” means the display designated on page
“LIBOR01” on Reuters (or such other page as may replace the LIBOR01 page on that service or any successor service for the purpose of displaying London interbank offered rates for U.S. dollar deposits of major banks). 

Notwithstanding the two foregoing paragraphs, if Chevron or its Designee determine on or prior to the relevant Interest Determination Date
that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the then-current Benchmark, then (i) Chevron shall promptly provide notice of such determination to the Calculation Agent and
(ii) the provisions set forth below under the heading “Effect of Benchmark Transition Event” (the “benchmark transition provisions”) will thereafter apply to all determinations, calculations and quotations made or obtained
for the purposes of calculating the rate and amount of interest payable on the              Floating Rate Notes during a relevant Interest Period. In accordance with the benchmark
transition provisions, after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, the amount of interest that will be payable for each Interest Period on the
             Floating Rate Notes will be a rate per annum equal to the sum of the Benchmark Replacement and the margin of    %, as determined by Chevron or its
Designee provided, however, that the minimum interest rate on the              Floating Rate Notes shall not be less than 0.000%. 

However, if Chevron or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with
respect to the then-current Benchmark, but for any reason the Benchmark Replacement has not been determined as of the relevant Interest Determination Date, the interest rate for the applicable interest period will be equal to the interest rate on
the last Interest Determination Date for the              Floating Rate Notes, as determined by Chevron or its Designee. 

All percentages resulting from any calculation of any interest rate for the
             Floating Rate Notes will be rounded, if necessary, to the nearest one hundred thousandth of a percentage point, with five
one-millionths of a percentage point being rounded upwards (e.g., 8.986865% (or 0.08986865) being rounded to 8.98687% (or 0.0898687)) and all dollar amounts used in or resulting from such calculations will be
rounded to the nearest cent (with one-half cent being rounded upwards). 
 The interest rate on the
             Floating Rate Notes will in no event be higher than the maximum rate permitted by New York law as the same may be modified by United States laws of general application.
Additionally, the interest rate on the              Floating Rate Notes will in no event be lower than zero. 

The Calculation Agent will, upon the request of any holder of the
             Floating Rate Notes, provide the interest rate then in effect with respect to the             
Floating Rate Notes and, if it has been determined, the interest rate to be in effect for the next Interest Period. The Calculation Agent shall calculate the interest rate in accordance with the foregoing and shall notify the Trustee or paying agent
of such interest rate. All calculations of the Calculation Agent, in the absence of manifest error, shall be conclusive for all purposes and binding on Chevron and holders of the
             Floating Rate Notes and neither the Trustee nor any paying agent shall have the duty to verify determinations of interest rates made by the Calculation Agent. 

Effect of Benchmark Transition Event 

Benchmark Replacement. If Chevron or its Designee determine that a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the
             Floating Rate Notes in respect of such determination on such date and all determinations on all subsequent dates. 

Benchmark Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, Chevron or its Designee
will have the right to make Benchmark Replacement Conforming Changes from time to time. 
 Decisions and Determinations. Any
determination, decision, election or calculation that may be made by Chevron or its Designee pursuant to the benchmark transition provisions described herein, including any determination with respect to a tenor, rate or adjustment or of the
occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, may be made in
Chevron or its Designee’s sole discretion and notwithstanding anything to the contrary in any documentation relating to the              Floating Rate Notes, shall become
effective without consent from the holders of the              Floating Rate Notes or any other party. 

Certain Defined Terms. As used herein: 

“Benchmark” means, initially, three-month U.S. dollar LIBOR; provided that if a Benchmark Transition Event and its related
Benchmark Replacement Date have occurred with respect to three-month U.S. dollar LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement. 

  
 B-2 

 “Benchmark Replacement” means the Interpolated Benchmark with respect to the
then-current Benchmark, plus the Benchmark Replacement Adjustment for such Benchmark; provided that if we or our Designee cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date, then “Benchmark Replacement”
means the first alternative set forth in the order below that can be determined by Chevron or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the sum of (a) Term SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(2)	 the sum of (a) Compounded SOFR and (b) the Benchmark Replacement Adjustment; 

 

	 	(3)	 the sum of (a) the alternate rate of interest that has been selected or recommended by the Relevant
Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b) the Benchmark Replacement Adjustment; 

  

	 	(4)	 the sum of (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

  

	 	(5)	 the sum of (a) the alternate rate of interest that has been selected by Chevron or its Designee as the
replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar-denominated floating rate notes at
such time and (b) the Benchmark Replacement Adjustment. 

 “Benchmark Replacement Adjustment” means the
first alternative set forth in the order below that can be determined by Chevron or its Designee as of the Benchmark Replacement Date: 
  

	 	(1)	 the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive
or negative value or zero), that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement; 

  

	 	(2)	 if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA
Fallback Adjustment; and 

  

	 	(3)	 the spread adjustment (which may be a positive or negative value or zero) that has been selected by Chevron or
its Designee giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement
for U.S. dollar-denominated floating rate notes at such time. 

 “Benchmark Replacement Conforming Changes”
means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “interest period,” timing and frequency of determining rates and making payments of interest,
rounding of amounts or tenors, changes to the definition of “Corresponding Tenor” solely when such tenor is longer than the interest period and other administrative matters) that Chevron or its Designee decide may be appropriate to reflect
the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if Chevron or its Designee decide that adoption of any portion of such market practice is not administratively feasible or if Chevron or its
Designee determine that no market practice for use of the Benchmark Replacement exists, in such other manner as Chevron or its Designee determine is reasonably necessary). 

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark: 

 

	 	(1)	 in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the
later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; and

  

	 	(2)	 in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the
public statement or publication of information referenced therein. 

 For the avoidance of doubt, if the event giving rise
to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

 “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current
Benchmark: 
  

	 	(1)	 a public statement or publication of information by or on behalf of the administrator of the Benchmark
announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide
the Benchmark; 

  

	 	(2)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an
entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely; provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or 

  
 B-3 

	 	(3)	 a public statement or publication of information by the regulatory supervisor for the administrator of the
Benchmark announcing that the Benchmark is no longer representative. 

 “Compounded SOFR” means the compounded
average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate being established by Chevron or its Designee in accordance with: 

 

	 	(1)	 the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Relevant
Governmental Body for determining compounded SOFR; provided that: 

  

	 	(2)	 if and to the extent that Chevron or its Designee determine that Compounded SOFR cannot be determined in
accordance with clause (1) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by Chevron or its Designee giving due consideration to any industry-accepted market practice for U.S.
dollar-denominated floating rate notes at such time. 

 For the avoidance of doubt, the calculation of Compounded SOFR
shall exclude the Benchmark Replacement Adjustment and the margin specified in this Note. 
 “Corresponding Tenor” with respect to
a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark. 

“Interpolated Benchmark” with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a
linear basis between (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is
longer than the Corresponding Tenor. 
 “ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps
and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time. 

“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for
derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor. 

“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective
upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor, excluding the applicable ISDA Fallback Adjustment. 

“Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is three-month U.S. dollar
LIBOR, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such determination, and (2) if the Benchmark is not three-month U.S. dollar LIBOR, the time determined by Chevron or its Designee in accordance
with the Benchmark Replacement Conforming Changes. 
 “Relevant Governmental Body” means the Federal Reserve Board and/or the NY
Federal Reserve, or a committee officially endorsed or convened by the Federal Reserve Board and/or the NY Federal Reserve or any successor thereto. 

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the NY Federal Reserve, as the
administrator of the benchmark, or a successor administrator, on the website of the NY Federal Reserve at http://www.newyorkfed.org, or any successor source. 

“Term SOFR” means the forward-looking term rate for the applicable Corresponding Tenor based on SOFR that has been selected or
recommended by the Relevant Governmental Body. 
 “Unadjusted Benchmark Replacement” means the Benchmark Replacement, excluding
the Benchmark Replacement Adjustment. 
 The principal hereof is payable upon presentation and surrender of this Note at the principal
office of Deutsche Bank Trust Company Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the
Record Date for such interest payment at such person’s address as it appears on the registration books of the Trustee. The Record Date for the ____ Floating Rate Notes is the date which is 15 days prior to the relevant Interest Payment Date.

 REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE
THE SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 

  
 B-4 

 Dated: May     , 2020 

 

			
	CHEVRON CORPORATION

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  

					
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 B-5 

 CHEVRON CORPORATION 

FLOATING RATE NOTE DUE              

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May     , 2020, as amended by the First Supplemental Indenture dated as of May
    , 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its “Floating Rate Notes
Due             ” aggregating $                 in principal amount (herein called the
“Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights,
obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture contains
provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of Chevron,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 The              Floating Rate Notes will not be
redeemable prior to maturity. 
 If an Event of Default (as that term is defined in the Indenture) shall occur, the principal of all Notes
and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration and its consequences may be waived by
the holders of a majority in aggregate principal amount of the Notes then Outstanding. 
 The Notes are issuable in registered form in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the
Trustee by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations and upon payment of the charges
provided in the Indenture, and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the
transferee in exchange herefor. 
 Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent may treat the
registered owner hereof as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the purpose of
receiving payment hereof or on account hereof and for all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
 No recourse shall be had for the payment of the principal of or the interest on this Note or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of Chevron or of any successor of Chevron,
whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly
waived and released. 

  
 B-6 

 Exhibit C 

 

			
	$[            ]	  	CUSIP:                     
	N-1	  	ISIN:                     

 CHEVRON CORPORATION 

    % NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE REPRESENTING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ] ) on May     ,          in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from May     , 2020 or from the most recent Interest
Payment Date (hereinafter defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of     % per annum, payable on each
                     and
                    , commencing     , 2020 (the “Interest Payment Dates”). 

The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company Americas,
as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at such
person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
  

	
	Dated: May     , 2020

  

			
	CHEVRON CORPORATION

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  

					
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 

  
 C-1 

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 C-2 

 CHEVRON CORPORATION 

    % NOTE DUE              

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May     , 2020, as amended by the First Supplemental Indenture dated as of May
    , 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its
“    % Notes Due             ” aggregating $             in principal amount
(herein called the “Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a
description of the rights, obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees.
The Indenture contains provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities
of Chevron, authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture
shall, without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal
of or interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable
upon a declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on
which any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of
any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 Prior to             ,
        , the Notes shall be subject to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the
Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the
redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the
Notes being redeemed to, but not including, the redemption date. On or after             ,         , the Notes shall be subject to
redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption
date. The “Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical
Release (hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the
applicable redemption date, of the Notes being redeemed plus (2)     %. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published
maturities most closely corresponding to the remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a
straight-line basis, rounding each of the relevant period to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal
Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then
such other reasonably comparable index as Chevron shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more
than 60 days prior to the date fixed for redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as
that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides
that in certain events such declaration and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 

The Notes are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be
exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s
attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such
transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent may treat the registered owner hereof as the absolute owner
of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the purpose of receiving payment hereof or on account hereof and for
all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 C-3 

 THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the
interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present
or future, of Chevron or of any successor of Chevron, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of
the consideration for the issue hereof, expressly waived and released. 

  
 C-4 

 Exhibit D 

 

			
	$[            ]	  	CUSIP:                     
	N-1	  	ISIN:                     

 CHEVRON CORPORATION 

    % NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE REPRESENTING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ] ) on May     ,          in lawful money of the United States of America and to pay interest
(computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from May     , 2020 or from the most recent Interest
Payment Date (hereinafter defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of     % per annum, payable on each
                     and
                    , commencing             , 2020 (the “Interest
Payment Dates”). 
 The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche
Bank Trust Company Americas, as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such
interest payment at such person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
  

	
	Dated: May     , 2020

  

			
	CHEVRON CORPORATION

 
			
		
	 By:
	 	
 

			
	Name:	 	
	Title:	 	

  

					
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 

  
 D-1 

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 D-2 

 CHEVRON CORPORATION 

        % NOTE DUE          

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May     , 2020, as amended by the First Supplemental Indenture dated as of May
    , 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its “
    % Notes Due             ” aggregating $             in principal amount (herein
called the “Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the
rights, obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture
contains provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of Chevron,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 Prior to
                    ,         , the Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal and
interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year
consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date. On or after
                    ,         , the Notes shall be subject to redemption, at the option of
Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption date. The “Adjusted
Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical Release (hereinafter defined)
most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the applicable redemption date, of the
Notes being redeemed plus (2)     %. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published maturities most closely corresponding to
the remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a straight-line basis, rounding each of the relevant
period to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal Reserve System and which establishes yields on
actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then such other reasonably comparable index as
Chevron shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more than 60 days prior to the date fixed for
redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as that term is defined in the Indenture)
shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides that in certain events such declaration
and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 
 The Notes
are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is
transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations
and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount
will be issued to the transferee in exchange herefor. 
 Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent
may treat the registered owner hereof as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the
purpose of receiving payment hereof or on account hereof and for all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 D-3 

 THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the
interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present
or future, of Chevron or of any successor of Chevron, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of
the consideration for the issue hereof, expressly waived and released. 

  
 D-4 

 Exhibit E 

 

			
	 $[            ]
	  	CUSIP:                     
	 N-1
	  	ISIN:                     

 CHEVRON CORPORATION 

    % NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE REPRESENTING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ] ) on May     ,              in lawful money of the United States of
America and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from May     , 2020 or
from the most recent Interest Payment Date (hereinafter defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of     % per annum, payable on each
                     and
                    , commencing
                    , 2020 (the “Interest Payment Dates”). 

The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company Americas,
as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at such
person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
 Dated: May
    , 2020 
  

			
	CHEVRON CORPORATION

 
			
		
	 By:
	 	  

	Name:	 	
	Title:	 	

  

					
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 

  
 E-1 

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 E-2 

 CHEVRON CORPORATION 

    % NOTE DUE              

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May     , 2020, as amended by the First Supplemental Indenture dated as of May
    , 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its “
    % Notes Due             ” aggregating $             in principal amount (herein
called the “Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the
rights, obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees. The Indenture
contains provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities of Chevron,
authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture shall,
without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal of or
interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable upon a
declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on which
any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of any
such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series, the
consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 Prior to
                    ,             , the Notes shall be subject to
redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date.
On or after                     ,             , the Notes shall be subject
to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption
date. The “Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical
Release (hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the
applicable redemption date, of the Notes being redeemed plus (2)     %. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published
maturities most closely corresponding to the remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a
straight-line basis, rounding each of the relevant period to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal
Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then
such other reasonably comparable index as Chevron shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more
than 60 days prior to the date fixed for redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as
that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides
that in certain events such declaration and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 

The Notes are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be
exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s
attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such
transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent may treat the registered owner hereof as the absolute owner
of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the purpose of receiving payment hereof or on account hereof and for
all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 E-3 

 THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the
interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present
or future, of Chevron or of any successor of Chevron, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of
the consideration for the issue hereof, expressly waived and released. 

  
 E-4 

 Exhibit F 

 

			
	 $[    ]
	  	CUSIP:                     
	 N-1
	  	ISIN:                     

 CHEVRON CORPORATION 

    % NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE REPRESENTING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ] ) on May     ,              in lawful money of the United States of
America and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from May     , 2020 or
from the most recent Interest Payment Date (hereinafter defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of     % per annum, payable on each
                     and
                    , commencing
                    , 2020 (the “Interest Payment Dates”). 

The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company Americas,
as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at such
person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
 Dated: May
    , 2020 
  

			
	CHEVRON CORPORATION
		
	 By: 
	 	  

	Name:	 	
	Title:	 	

  

					
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 

  
 F-1 

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 F-2 

 CHEVRON CORPORATION 

    % NOTE DUE              

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May     , 2020, as amended by the First Supplemental Indenture dated as of May
    , 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its
“    % Notes Due             ” aggregating $             in principal amount
(herein called the “Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a
description of the rights, obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees.
The Indenture contains provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities
of Chevron, authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture
shall, without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal
of or interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable
upon a declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on
which any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of
any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 Prior to
                    ,             , the Notes shall be subject to
redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date.
On or after                     ,             , the Notes shall be subject
to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption
date. The “Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical
Release (hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the
applicable redemption date, of the Notes being redeemed plus (2)     %. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published
maturities most closely corresponding to the remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a
straight-line basis, rounding each of the relevant period to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal
Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then
such other reasonably comparable index as Chevron shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more
than 60 days prior to the date fixed for redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as
that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides
that in certain events such declaration and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 

The Notes are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be
exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s
attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such
transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent may treat the registered owner hereof as the absolute owner
of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the purpose of receiving payment hereof or on account hereof and for
all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 F-3 

 THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the
interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present
or future, of Chevron or of any successor of Chevron, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of
the consideration for the issue hereof, expressly waived and released. 

  
 F-4 

 Exhibit G 

 

			
	 $[            ]
	  	CUSIP:                     
	 N-1
	  	ISIN:                     

 CHEVRON CORPORATION 

    % NOTE DUE              

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CHEVRON
CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE REPRESENTING THE NOTE 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. 
 CHEVRON CORPORATION (herein referred to as “Chevron”), a corporation duly organized and existing under
the laws of the State of Delaware, for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [            ]
($[            ] ) on May     ,              in lawful money of the United States of
America and to pay interest (computed on the basis of a 360-day year of twelve 30-day months) thereon in like money from May     , 2020 or
from the most recent Interest Payment Date (hereinafter defined) to which interest has been paid or duly provided for until payment of such principal sum, at the rate of     % per annum, payable on each
                     and
                    , commencing
                    , 2020 (the “Interest Payment Dates”). 

The principal hereof is payable upon presentation and surrender of this Note at the principal office of Deutsche Bank Trust Company Americas,
as Trustee (herein called the “Trustee”). Interest on this Note may be payable by check or draft mailed to the person in whose name this Note is registered at the close of business on the Record Date for such interest payment at such
person’s address as it appears on the registration books of the Trustee. The Record Date for the Notes is the date which is 15 days prior to the relevant Interest Payment Date. 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE
SAME EFFECT AS IF FULLY SET FORTH AT THIS PLACE. 
 This Note shall not be entitled to any benefit under the Indenture (hereinafter
defined), or become valid or obligatory for any purpose, until the Certificate of Authentication hereon endorsed shall have been executed by manual signature by the Trustee. 

IN WITNESS WHEREOF, CHEVRON CORPORATION has caused this Note to be signed by its Assistant Treasurer manually or in facsimile and its
corporate seal to be imprinted hereon and attested by the manual or facsimile signature of its Secretary or an Assistant Secretary. 
 Dated: May
    , 2020 
  

			
	CHEVRON CORPORATION
		
	By: 	 	  

	Name:	 	
	Title:	 	

  

					
		 	Attest:	 	  

		 		 	Assistant Secretary

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities, of the Series designated 
 herein,
described in the within-mentioned Indenture. 

  
 G-1 

 DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee 

 

			
	By:	 	  

		 	Authorized Signatory

  
 G-2 

 CHEVRON CORPORATION 

    % NOTE DUE              

This Note is one of a duly authorized issue of securities of Chevron, not limited in aggregate principal amount, all issued or to be issued in
one or more series of varying dates, numbers, interest rates and other provisions, under an Indenture dated as of May     , 2020, as amended by the First Supplemental Indenture dated as of May
    , 2020 (such indenture as so amended being herein referred to as the “Indenture”) each being between Chevron and the Trustee. This Note is one of a series of Notes designated as its
“    % Notes Due             ” aggregating $             in principal amount
(herein called the “Notes”). 
 Reference is hereby made to the Indenture and all indentures supplemental thereto for a
description of the rights, obligations, duties and immunities thereunder of Chevron, the Trustee and the holders of the Notes, to all of the provisions of which Indenture the registered owner of this Note, by acceptance hereof, assents and agrees.
The Indenture contains provisions permitting Chevron and the Trustee, with the consent of the holders of not less than a majority in aggregate principal amount of the Securities (which term is defined in the Indenture as any security or securities
of Chevron, authenticated and delivered under the Indenture) at the time Outstanding (as defined in the Indenture) and affected by such supplemental indenture, to execute one or more supplemental indentures for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of such Securities; provided, however, that no such supplemental indenture
shall, without the consent of the holder of each Outstanding Security (including the Notes) affected thereby: (1) change the Stated Maturity (as defined in the Indenture) of the principal of, or premium, if any, or any installment of principal
of or interest on, any Security; (2) reduce the principal amount of any Security or reduce the amount of the principal of an Original Issue Discount Security (as defined in the Indenture) or any other Security which would be due and payable
upon a declaration of acceleration of the Maturity (as defined in the Indenture) thereof pursuant to Section 502, or reduce the rate of interest on any Security; (3) reduce any premium payable upon the redemption of or change the date on
which any Security may or must be redeemed; (4) change the coin or currency in which the principal of or premium, if any, or interest on any Security is payable; (5) impair the right of any holder to institute suit for the enforcement of
any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date (as defined in the Indenture)); (6) reduce the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose holders is required for any such supplemental indenture, or the consent of whose holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences)
provided for in the Indenture; or (7) modify any of the provisions of Sections 9.2, 5.12 or 10.5 of the Indenture, except to increase any such percentage or to provide that certain other provisions of the Indenture cannot be modified or waived
without the consent of the holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any holder with respect to changes in the references to “the Trustee” and
concomitant changes in Sections 9.2 and 10.5 of the Indenture, or the deletion of Section 9.2(7), in accordance with the requirements of Section 6.11 and 9.1(6) of the Indenture. It is also provided in the Indenture that the holders of a
majority in principal amount of the Notes may waive (a) compliance by Chevron with the covenants contained in Article X of the Indenture with respect to the Notes and (b) any past or existing Event of Default with respect to the Notes and
its consequences except a continuing default in the payment of the principal of or interest on the Notes or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the registered owner of the
Note so affected. 
 Prior to
                    ,             , the Notes shall be subject to
redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (not including the portion of any such payments of interest accrued as of the redemption date), discounted to the redemption date on a semiannual basis, calculated assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate, plus interest accrued on the Notes being redeemed to, but not including, the redemption date.
On or after                     ,             , the Notes shall be subject
to redemption, at the option of Chevron, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus interest accrued on the Notes being redeemed to, but not including, the redemption
date. The “Adjusted Treasury Rate” is to be determined on the third Business Day preceding the redemption date and means (1) the arithmetic mean of the yields under the heading “Week Ending” published in the Statistical
Release (hereinafter defined) most recently published prior to the date of determination under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining term, as of the
applicable redemption date, of the Notes being redeemed plus (2)     %. If no maturity set forth under such heading exactly corresponds to the remaining term of the Notes being redeemed, yields for the two published
maturities most closely corresponding to the remaining term of the Notes being redeemed will be calculated as described in the preceding sentence, and the Adjusted Treasury Rate will be interpolated or extrapolated from such yields on a
straight-line basis, rounding each of the relevant period to the nearest month. The term “Statistical Release” means the statistical release designation “H.15” or any successor publication which is published weekly by the Federal
Reserve System and which establishes yields on actively-traded United States government securities adjusted to constant maturities, or, if such statistical release is not published at the time of any determination under the terms of the Notes, then
such other reasonably comparable index as Chevron shall designate. As provided in the Indenture, notice of redemption shall be given to the registered owners of Notes to be redeemed by mailing a notice of such redemption not less than 10 nor more
than 60 days prior to the date fixed for redemption, to their addresses as they appear on the register books. 
 If an Event of Default (as
that term is defined in the Indenture) shall occur, the principal of all Notes and the interest accrued thereon may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture. The Indenture provides
that in certain events such declaration and its consequences may be waived by the holders of a majority in aggregate principal amount of the Notes then Outstanding. 

The Notes are issuable in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. Notes may be
exchanged for a like aggregate amount of Notes of other authorized denominations as provided in the Indenture. This Note is transferable at the office of the Trustee by the registered owner hereof in person, or by such registered owner’s
attorney duly authorized in writing, on the books of Chevron at said office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Note. Upon such
transfer a new fully registered Note or Notes of authorized denomination or denominations, for the same aggregate principal amount will be issued to the transferee in exchange herefor. 

Chevron, the Trustee and any agent of Chevron or the Trustee and any paying agent may treat the registered owner hereof as the absolute owner
of this Note (whether or not this Note shall be overdue and notwithstanding any notation of ownership or other writing hereon made by anyone other than Chevron or the Trustee) for the purpose of receiving payment hereof or on account hereof and for
all other purposes, and none of Chevron, the Trustee or any such agent shall be affected by notice to the contrary. 

  
 G-3 

 THIS NOTE AND THE OBLIGATIONS OF CHEVRON IN RESPECT HEREOF ARE GOVERNED BY AND SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 No recourse shall be had for the payment of the principal of or the
interest on this Note or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present
or future, of Chevron or of any successor of Chevron, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of
the consideration for the issue hereof, expressly waived and released. 

  
 G-4EX-4.2

 Exhibit 4.2 

AON PLC 
 Company 

the Guarantors party hereto 

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

INDENTURE 
 Dated as of
                        ,
                 
 Debt Securities 

 CROSS-REFERENCE SHEET* 

BETWEEN 
 Provisions of Sections 310
through 318(a) of the Trust Indenture Act of 1939 and within the Indenture among Aon plc, the Guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., Trustee: 

 

									
	310	  	(a) (1) and (2)	  		  	7.09	  	
	310	  	(a) (3) and (4)	  		  	Not applicable	  	
	310	  	(b)	  		  	7.08 and 7.10 (b)	  	
	310	  	(c)	  		  	Not applicable	  	
	311	  	(a) and (b)	  		  	7.13	  	
	311	  	(c)	  		  	Not applicable	  	
	312	  	(a)	  		  	5.01 and 5.02 (a)	  	
	312	  	(b) and (c)	  		  	5.02 (b) and (c)	  	
	313	  	(a), (b)(2) and (c)	  		  	5.04 (a)	  	
	313	  	(b) (1)	  		  	Not applicable	  	
	313	  	(d)	  		  	5.04 (b)	  	
	314	  	(a)	  		  	5.03	  	
	314	  	(b)	  		  	Not applicable	  	
	314	  	(c) (1) and (2)	  		  	16.04	  	
	314	  	(c) (3)	  		  	Not applicable	  	
	314	  	(d)	  		  	Not applicable	  	
	314	  	(e)	  		  	16.04	  	
	314	  	(f)	  		  	Not applicable	  	
	315	  	(a), (c) and (d)	  		  	7.01	  	
	315	  	(b)	  		  	6.07	  	
	315	  	(e)	  		  	6.08	  	
	316	  	(a) (1)	  		  	6.01 and 6.06	  	
	316	  	(a) (2)	  		  	Omitted	  	
	316	  	(a) last sentence	  		  	8.04	  	
	316	  	(b)	  		  	6.04	  	
	317	  	(a)	  		  	6.02	  	
	317	  	(b)	  		  	4.03 (a)	  	
	318	  	(a)	  		  	16.06	  	

  

	*	 This Cross-Reference Sheet is not part of the Indenture. 

  
 i 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	ARTICLE ONE DEFINITIONS	  	 	5	 
			
	 Section 1.01
	  	 Definitions
	  	 	5	 
		
	ARTICLE TWO ISSUE, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES	  	 	11	 
			
	 Section 2.01
	  	 Amount Unlimited; Issuable in Series
	  	 	11	 
	 Section 2.02
	  	 Form of Trustee’s Certificate of Authentication
	  	 	13	 
	 Section 2.03
	  	 Form, Execution, Authentication, Delivery and Dating of Securities
	  	 	13	 
	 Section 2.04
	  	 Currency; Denominations; Regular Record Date
	  	 	15	 
	 Section 2.05
	  	 Exchange and Registration of Transfer of Securities
	  	 	16	 
	 Section 2.06
	  	 Temporary Securities
	  	 	16	 
	 Section 2.07
	  	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	17	 
	 Section 2.08
	  	 Securities in Global Form
	  	 	18	 
	 Section 2.09
	  	 Cancellation
	  	 	18	 
	 Section 2.10
	  	 Computation of Interest
	  	 	18	 
	 Section 2.11
	  	 CUSIP Numbers
	  	 	18	 
		
	ARTICLE THREE REDEMPTION OF SECURITIES	  	 	18	 
			
	 Section 3.01
	  	 Redemption of Securities; Applicability of Article
	  	 	18	 
	 Section 3.02
	  	 Tax Redemption
	  	 	18	 
	 Section 3.03
	  	 Notice of Redemption; Selection of Securities
	  	 	20	 
	 Section 3.04
	  	 Payment of Securities Called for Redemption
	  	 	21	 
		
	ARTICLE FOUR PARTICULAR COVENANTS OF THE COMPANY	  	 	21	 
			
	 Section 4.01
	  	 Payment of Principal, Premium and Interest
	  	 	21	 
	 Section 4.02
	  	 Offices for Notices and Payments, etc.
	  	 	21	 
	 Section 4.03
	  	 Provisions as to Paying Agent
	  	 	22	 
	 Section 4.04
	  	 Statement by Officers as to Default
	  	 	23	 
	 Section 4.05
	  	 Payment of Additional Amounts
	  	 	23	 
		
	ARTICLE FIVE SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  	 	25	 
			
	 Section 5.01
	  	 Securityholder Lists
	  	 	25	 
	 Section 5.02
	  	 Preservation and Disclosure of Lists
	  	 	26	 
	 Section 5.03
	  	 Reports by the Company
	  	 	27	 
	 Section 5.04
	  	 Reports by the Trustee
	  	 	27	 
		
	ARTICLE SIX REMEDIES ON DEFAULT	  	 	27	 
			
	 Section 6.01
	  	 Events of Default
	  	 	27	 
	 Section 6.02
	  	 Payment of Securities on Default; Suit Therefor
	  	 	29	 
	 Section 6.03
	  	 Application of Moneys Collected by Trustee
	  	 	31	 
	 Section 6.04
	  	 Proceedings by Securityholders
	  	 	31	 
	 Section 6.05
	  	 Remedies Cumulative and Continuing
	  	 	32	 

  
 ii 

					
	 Section 6.06
	  	 Direction of Proceedings
	  	32
	 Section 6.07
	  	 Notice of Defaults
	  	32
	 Section 6.08
	  	 Undertaking to Pay Costs
	  	33
	 Section 6.09
	  	 Waiver of Past Defaults
	  	33
		
	ARTICLE SEVEN CONCERNING THE TRUSTEE	  	33
			
	 Section 7.01
	  	 Duties and Responsibilities of Trustee
	  	33
	 Section 7.02
	  	 Reliance on Documents, Opinions, etc.
	  	34
	 Section 7.03
	  	 No Responsibility for Recitals, etc.
	  	35
	 Section 7.04
	  	 Ownership of Securities
	  	35
	 Section 7.05
	  	 Moneys to Be Held in Trust
	  	35
	 Section 7.06
	  	 Compensation, Indemnification and Expenses of Trustee
	  	36
	 Section 7.07
	  	 Officers’ Certificate as Evidence
	  	36
	 Section 7.08
	  	 Conflicting Interest of Trustee
	  	36
	 Section 7.09
	  	 Eligibility of Trustee
	  	36
	 Section 7.10
	  	 Resignation or Removal of Trustee
	  	37
	 Section 7.11
	  	 Acceptance by Successor Trustee
	  	38
	 Section 7.12
	  	 Successor by Merger, etc.
	  	38
	 Section 7.13
	  	 Limitations on Rights of Trustee as Creditor
	  	39
		
	ARTICLE EIGHT CONCERNING THE SECURITYHOLDERS	  	39
			
	 Section 8.01
	  	 Action by Securityholders
	  	39
	 Section 8.02
	  	 Proof of Ownership
	  	39
	 Section 8.03
	  	 Who Are Deemed Absolute Owners
	  	39
	 Section 8.04
	  	 Company-Owned Securities Disregarded
	  	40
	 Section 8.05
	  	 Revocation of Consents; Future Securityholders Bound
	  	40
		
	ARTICLE NINE SECURITYHOLDERS’ MEETINGS	  	40
			
	 Section 9.01
	  	 Purposes of Meetings
	  	40
	 Section 9.02
	  	 Call of Meetings by Trustee
	  	41
	 Section 9.03
	  	 Call of Meetings by Company or Securityholders
	  	41
	 Section 9.04
	  	 Qualification for Voting
	  	41
	 Section 9.05
	  	 Regulations
	  	41
	 Section 9.06
	  	 Voting
	  	42
		
	ARTICLE TEN SUPPLEMENTAL INDENTURES	  	42
			
	 Section 10.01
	  	 Supplemental Indentures without Consent of Securityholders
	  	42
	 Section 10.02
	  	 Supplemental Indentures with Consent of Securityholders
	  	43
	 Section 10.03
	  	 Compliance with Trust Indenture Act; Effect of Supplemental Indentures
	  	44
	 Section 10.04
	  	 Notation on Securities
	  	44
		
	ARTICLE ELEVEN CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE	  	45
			
	 Section 11.01
	  	 Company and Guarantors May Consolidate, etc., Only on Certain Terms
	  	45
	 Section 11.02
	  	 Successor Person Substituted
	  	45
		
	ARTICLE TWELVE SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS	  	45

  
 iii 

					
	 Section 12.01
	  	 Discharge of Indenture
	  	45
	 Section 12.02
	  	 Deposited Moneys to Be Held in Trust by Trustee
	  	47
	 Section 12.03
	  	 Paying Agent to Repay Moneys Held
	  	47
	 Section 12.04
	  	 Return of Unclaimed Moneys
	  	47
		
	ARTICLE THIRTEEN DEFEASANCE AND COVENANT DEFEASANCE	  	47
			
	 Section 13.01
	  	 Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance
	  	47
	 Section 13.02
	  	 Defeasance and Discharge
	  	48
	 Section 13.03
	  	 Covenant Defeasance
	  	48
	 Section 13.04
	  	 Conditions to Defeasance or Covenant Defeasance
	  	48
	 Section 13.05
	  	 Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions
	  	50
		
	ARTICLE FOURTEEN IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  	50
			
	 Section 14.01
	  	 Indenture and Securities Solely Corporate Obligations
	  	50
		
	ARTICLE FIFTEEN GUARANTEES	  	51
			
	 Section 15.01
	  	 Guarantee
	  	51
	 Section 15.02
	  	 Subrogation
	  	52
	 Section 15.03
	  	 Notation of Guarantee
	  	52
	 Section 15.04
	  	 Irish Guarantee Limitation
	  	52
		
	ARTICLE SIXTEEN MISCELLANEOUS PROVISIONS	  	52
			
	 Section 16.01
	  	 Benefits of Indenture Restricted to Parties and Securityholders
	  	52
	 Section 16.02
	  	 Provisions Binding on Successors
	  	53
	 Section 16.03
	  	 Addresses for Notices, etc.
	  	53
	 Section 16.04
	  	 Evidence of Compliance with Conditions Precedent
	  	53
	 Section 16.05
	  	 Legal Holidays
	  	54
	 Section 16.06
	  	 Trust Indenture Act to Control
	  	54
	 Section 16.07
	  	 Execution in Counterparts
	  	54
	 Section 16.08
	  	 New York Contract
	  	54
	 Section 16.09
	  	 Consent to Service
	  	54
	 Section 16.10
	  	 Separability
	  	55
	 Section 16.11
	  	 Assignment
	  	55
	 Section 16.12
	  	 Waiver of Jury Trial
	  	55
	 Section 16.13
	  	 Force Majeure
	  	55
	 Section 16.14
	  	 Judgment Currency
	  	55
	 Section 16.15
	  	 Tax Withholding
	  	56

  
 iv 

 THIS INDENTURE, dated as
of                ,                , among Aon plc, a public limited company duly
organized under the laws of Ireland (hereinafter sometimes called the “Company”), Aon Global Holdings plc, a public limited company duly organized and existing under the laws of England and Wales (hereinafter sometimes called
“AGH”), Aon plc, a public limited company duly organized and existing under the laws of England and Wales and to be re-registered as a limited company and renamed Aon Global Limited (hereinafter sometimes called “AGL”), and Aon
Corporation, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter sometimes called “Aon Delaware” and, together with AGH and AGL, the “Guarantors” and each, a “Guarantor”), and
The Bank of New York Mellon Trust Company, N.A., a national banking association duly incorporated and existing under the laws of the United States of America (hereinafter sometimes called the “Trustee”, which term shall include any
successor trustee appointed pursuant to Article Seven). 
 WITNESSETH: 

WHEREAS, the Company deems it necessary to issue from time to time for its lawful purposes securities (hereinafter called
“Securities” or, in the singular, “Security”) evidencing its unsecured indebtedness and has duly authorized the execution and delivery of this Indenture to provide for the issuance of the Securities in one or more series,
unlimited as to principal amount and which may be guaranteed from time to time by the Guarantor, to bear such rates of interest, to mature at such time or times and to have such other provisions as shall be fixed as hereinafter provided; and 

WHEREAS, each of the Company and the Guarantors represents that all acts and things necessary to present a valid and binding indenture and
agreement according to its terms have been done and performed, and the execution of this Indenture by each of the Company and the Guarantors has in all respects been duly authorized, and each of the Company and the Guarantors, in the exercise of
legal rights and power in it vested, is executing this Indenture; 
 NOW, THEREFORE, in order to declare the terms and conditions upon which
the Securities are authenticated, issued, and received, and in consideration of the foregoing premises and of the purchase and acceptance of the Securities by the Holders thereof, each of the Company and the Guarantors covenants and agrees with the
Trustee, for the equal and proportionate benefit of the respective Holders from time to time of the Securities, as follows: 
 ARTICLE ONE

 DEFINITIONS 

Section 1.01    Definitions. The terms defined in this Section (except as herein
otherwise expressly provided or unless the context otherwise requires) for all purposes of this Indenture and of any indenture supplemental hereto (except as otherwise provided therein) shall have the respective meanings specified in this Section.
All other terms used in this Indenture which are defined in the Trust Indenture Act of 1939, as amended and the Securities Act of 1933, as amended, shall have the meanings (except as herein otherwise expressly provided or unless the context
otherwise requires) assigned to such terms in the Trust Indenture Act of 1939 and in the Securities Act of 1933, as amended, in each case, as in force at the date of this Indenture as originally executed. 

Except as otherwise expressly provided in or pursuant to this Indenture or unless the context otherwise requires, for all purposes of this
Indenture and any indenture supplemental hereto: 
 (1)    the terms defined in this Article One include the plural
as well as the singular; 
 (2)    all accounting terms not otherwise defined herein have the meanings assigned to them
in accordance with GAAP; 

  
 5 

 (3)    the words “herein”, “hereof”,
“hereto” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; 

(4)    references herein to Articles, Sections and other subdivisions shall be to the Articles, Sections and
other subdivisions of this Indenture; 
 (5)    the word “or” is used inclusively (for example, the phrase
“A or B” means “A or B or both”, not “either A or B but not both”); 
 (6)     provisions
apply to successive events and transactions; 
 (7)    the term “merger” includes a statutory share exchange
and the terms “merge” and “merged” have correlative meanings; 
 (8)    the masculine gender
includes the feminine and the neuter; and 
 (9)    references to agreements and other instruments include subsequent
amendments and supplements thereto. 
 ADDITIONAL AMOUNTS 

The term “Additional Amounts” shall have the meaning specified in Section 4.05. 

BOARD OF DIRECTORS 
 The term “Board of
Directors”, with respect to the Company, shall mean the board of directors of the Company, the executive committee of the Company or any other committee duly authorized to exercise the powers and authority of the board of directors of the
Company with respect to this Indenture or any Security. 
 The term “Board of Directors”, with respect to a Guarantor, shall mean
the board of directors (or comparable governing body) of such Guarantor, the executive committee of such Guarantor or any other committee duly authorized to exercise the powers and authority of the board of directors (or comparable governing body)
of such Guarantor with respect to this Indenture, including any Guarantee. 
 BOARD RESOLUTION 

The term “Board Resolution”, with respect to the Company, shall mean a resolution certified by the Secretary or any Assistant
Secretary of the Company to have been duly adopted by, or pursuant to the authority of, the Board of Directors of the Company and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

The term “Board Resolution”, with respect to a Guarantor, shall mean a written resolution signed by all the directors of such
Guarantor or a resolution certified by the Secretary, any Assistant Secretary or any Executive Vice President of such Guarantor to have been duly adopted by, or pursuant to the authority of, the Board of Directors of such Guarantor and to be in full
force and effect on the date of such certification, and delivered to the Trustee. 
 BUSINESS DAY 

The term “Business Day” shall mean, with respect to any Security, a day (other than a Saturday or Sunday) that in the city (or in any
of the cities, if more than one) in which amounts are payable, as specified on the face of the form of such Security, is neither a legal holiday nor a day on which banking institutions are authorized or required by law, regulation or executive order
to close. 

  
 6 

 COMMISSION 

The term “Commission” shall mean the Securities and Exchange Commission, as from time to time constituted, created under the Exchange
Act, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time. 

COMPANY 
 The term “Company” shall mean
the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such
successor Person. 
 COMPANY ORDER 
 The term
“Company Order” means a written order signed in the name of the Company by the President or any Executive Vice President or any Vice President or the Treasurer of the Company and by the Secretary or any Assistant Secretary of the Company.

 CORPORATE TRUST OFFICE 
 The term
“Corporate Trust Office” means an office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at 2 N. LaSalle Street, 7th Floor, Chicago, Illinois 60602 Attention: Corporate Trust Administration, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the
principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Company). 

COVENANT DEFEASANCE 
 The term “covenant
defeasance” shall have the meaning specified in Section 13.03. 
 DEFEASANCE 

The term “defeasance” shall have the meaning specified in Section 13.02. 

DEPOSITARY 
 The term “Depositary”
shall mean, with respect to any series of Securities, the clearing agency registered under the Exchange Act that is designated to act as Depositary for the Global Securities evidencing all or part of such Securities as contemplated by
Section 2.01. 
 DOLLARS 
 The term
“dollars” or “$” shall mean a dollar or other equivalent unit of legal tender for payment of public or private debts in the United States of America. 

EVENT OF DEFAULT 
 The term “Event of
Default” shall mean any event specified as such in or as contemplated by Section 6.01. 

  
 7 

 EXCHANGE ACT 

The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

GAAP 
 The term “GAAP” and the
expression “generally accepted accounting principles” mean, unless otherwise specified with respect to any series of Securities pursuant to Section 2.01, such accounting principles as are generally accepted in the United States as of
the date or time of any computation required hereunder. 
 GLOBAL SECURITY 

The term “Global Security” means a Security in registered global form without interest coupons. 

GOVERNMENT OBLIGATION 
 The term “Government
Obligation” shall have the meaning specified in Section 13.04. 
 GUARANTEE 

The term “Guarantee” shall have the meaning specified in Article Fifteen. 

GUARANTOR 
 The term “Guarantor” or
“Guarantors” shall have the meaning specified in the first paragraph of this Indenture, unless a successor Person(s) shall have become such pursuant to the applicable provisions of the Indenture, and thereafter the term
“Guarantor” or “Guarantors” shall mean such successor Person(s). 
 HOLDER 

The terms “Holder”, “Holder of Securities” and “Securityholder”, and other similar terms, shall mean the person
in whose name at the time a Security is registered on the registration books kept for that purpose in accordance with the terms hereof. 
 HOME COUNTRY
JURISDICTION 
 The term “Home Country Jurisdiction” means the jurisdiction of organization of the Company and, with respect to any
series of Securities to which the provisions of Article Fifteen shall apply, the jurisdiction of organization of each Guarantor, as initially set forth in the Recitals hereto and from time to time thereafter as the Company or such Guarantor may
notify the Trustee in writing upon any change in its jurisdiction of organization. 
 INDENTURE 

The term “Indenture” shall mean this instrument as originally executed or as it may from time to time be supplemented or amended by
one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and, with respect to any Security, by the terms and provisions of such Security established pursuant to Section 2.01; provided, however, that,
if at any time more than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or as it
may from time to time be supplemented or amended by one or more indentures supplemental hereto and shall include the terms of those particular series of Securities for which such Person is Trustee established pursuant to Section 2.01,
exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were adopted. 

  
 8 

 INTEREST 

The term “Interest” shall include, when used with respect to non-interest bearing Securities,
interest payable on or after maturity. 
 INTEREST PAYMENT DATE 

The term “Interest Payment Date”, when used with respect to any Security, means the stated maturity of an installment of interest on
such Security. 
 OFFICERS’ CERTIFICATE 

The term “Officers’ Certificate”, with respect to the Company, shall mean a certificate signed by the Chairman of the Board of
Directors of the Company or the President or any Executive Vice President or any Vice President or the Treasurer of the Company and by the Secretary or any Assistant Secretary of the Company. 

The term “Officers’ Certificate”, with respect to a Guarantor, shall mean a certificate signed by a director of such Guarantor,
the Chairman of the Board of Directors of such Guarantor, or the President, any Executive Vice President, any Vice President or the Treasurer of such Guarantor and by the Secretary or any Assistant Secretary of such Guarantor. 

OPINION OF COUNSEL 
 The term “Opinion of
Counsel” shall mean an opinion in writing, reasonably acceptable to the Trustee, signed by legal counsel, who may be an employee of or counsel to the Company or any Guarantor or who may be other counsel. 

ORIGINAL ISSUE DISCOUNT SECURITIES 
 The term
“Original Issue Discount Securities” shall mean a Security issued pursuant to this Indenture which provides for an amount less than the principal face amount thereof to be due and payable upon declaration of acceleration pursuant to
Section 6.01. 
 OUTSTANDING 
 The term
“Outstanding”, when used with reference to Securities, shall, subject to the provisions of Section 8.01 and Section 8.04, mean, as of any particular time, all Securities authenticated and delivered by the Trustee under this
Indenture, except 
 (a)    Securities theretofore cancelled by the Trustee or delivered to the Trustee
for cancellation; 
 (b)    Securities, or portions thereof, for the payment, purchase or redemption of
which moneys in the necessary amount (or, to the extent that such Security is payable in Shares or other securities or property, Shares or such other securities or property in the necessary amount, together with, if applicable, cash in lieu of
fractional Shares or securities) shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall have been set aside and segregated in trust by the Company (if the Company shall act as its own paying
agent), provided, that if such Securities are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in Article Three, or provisions satisfactory to the Trustee shall have been made for giving
such notice; 
 (c)    Securities in lieu of and in substitution for which other Securities shall have
been authenticated and delivered pursuant to the terms of Section 2.07, unless proof satisfactory to the Trustee is presented that any such Securities are held by bona fide Holders in due course in whose hands such Securities are valid
obligations of the Company; 

  
 9 

 (d)    Securities which have been defeased pursuant to
Section 13.02; and 
 (e)    Securities which have been converted or exchanged as contemplated by
this Indenture into Shares or other securities or property, if the terms of such Security provide for such conversion or exchange. 
 PERIODIC OFFERING 

The term “Periodic Offering” means an offering of Securities of a series from time to time the specific terms of which Securities,
including without limitation the rate or rates of interest or formula for determining the rate or rates of interest thereon, if any, the stated maturity of the principal amount thereof and the redemption, repurchase or repayment provisions, if any,
with respect thereto, are to be determined by the Company upon the issuance of such Securities. 
 PERSON 

The term “Person” shall mean any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political subdivision thereof. 
 PLACE OF PAYMENT 

The term “Place of Payment”, when used with respect to the Securities of any series, means the office or agency of the Company in the
Borough of Manhattan, The City of New York, designated and maintained by the Company pursuant to Section 4.02 and such other place or places where the principal of and premium, if any, and interest, if any, on the Securities of that series are
payable as specified pursuant to Section 2.01. 
 REGULAR RECORD DATE 

The term “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date
specified for that purpose pursuant to Sections 2.01 and 2.04. 
 RESPONSIBLE OFFICER 

The term “Responsible Officer”, when used with respect to the Trustee, shall mean any vice president, assistant treasurer, trust
officer, assistant vice president, or any other officer of the Trustee customarily performing functions similar to those performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred
because of his knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 

SECURITY REGISTER AND SECURITY REGISTRAR 
 The
term “Security Register” and “Security Registrar” shall have the respective meanings specified in Section 2.05. 
 SHARES 

The term “Shares” shall mean the Class A Ordinary Shares, nominal value $0.01 per share, of the Company authorized at the date
of this Indenture as originally signed, or any other class of stock resulting from successive changes or reclassifications of such Shares, and in any such case including any shares thereof authorized after the date of this Indenture, and any other
shares of the Company which do not have any priority in the payment of dividends or upon liquidation over any other class of shares. 

  
 10 

 TAXES 

The term “Taxes” shall have the meaning specified in Section 4.05. 

TRUST INDENTURE ACT 
 Except as otherwise
provided in Section 10.03, the term “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, as in force at the date of this Indenture as originally executed; provided however, that in the event the Trust
Indenture Act of 1939, as amended, is amended after the date of this Indenture, such term shall mean, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 

UNITED STATES 
 The term “United
States” shall mean the United States of America, its territories, possessions and other areas subject to its jurisdiction, including the Commonwealth of Puerto Rico. 

ARTICLE TWO 
 ISSUE,
EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES 
 Section 2.01    Amount Unlimited;
Issuable in Series. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 

The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution of the Company, and set
forth in an Officers’ Certificate of the Company, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 

(1)    the title of the Securities of the series (which shall distinguish the Securities of the series from
all other Securities); 
 (2)    any limit upon the aggregate principal amount of the Securities of the
series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, in exchange for, or in lieu of, other Securities of the series pursuant to Section 2.05,
2.06, 2.07, 3.03 or 10.04 or, if applicable, upon surrender in part of any Security for conversion or exchange into Shares or other securities or property pursuant to its terms); 

(3)    whether any Securities of the series are to be issuable in whole or in part in global form and, if
so, (a) whether beneficial owners of interests in any such Global Security may exchange such interests for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges
may occur, if other than in the manner provided in Section 2.05, and (b) the name of the Depositary with respect to any Global Security; 

(4)    the date or dates on which the principal of the Securities of the series is payable; 

(5)    the rate or rates, which may be fixed or variable, at which the Securities of the series shall bear
interest, if any, and if the rate is variable, the manner of calculation thereof, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date for the
determination of Holders of such Securities to whom interest is payable on any Interest Payment Date; 

  
 11 

 (6)    whether Securities of the series are entitled to
the benefits of the Guarantee pursuant to Article Fifteen of this Indenture from one or more, or all, of the Guarantors; 

(7)    the place or places (in addition to such place or places specified in this Indenture) where the
principal of and premium, if any, and interest, if any, on Securities of the series shall be payable; 

(8)    the period or periods within which, the price or prices at which and the terms and conditions upon
which Securities of the series may be redeemed, repurchased or repaid, in whole or in part, at the option of the Company, pursuant to any sinking fund or otherwise; 

(9)    the obligation, if any, of the Company to redeem, repurchase or repay Securities of the series
pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the series shall be redeemed,
repurchased, or repaid, in whole or in part, pursuant to such obligation, and, where applicable, the obligation of the Company to select the Securities to be redeemed, repurchased or repaid; 

(10)    if other than dollars, the currency or currencies, currency units or composite currency in which
the Securities of the series shall be denominated and in which payments of principal of and premium, if any, and interest, if any, on and any other amounts payable with respect to such Securities shall or may be payable and, if applicable, the date
or dates on which, the period or periods within which, and the other terms and conditions upon which, any such election may be made, and the time and manner of determining the exchange rate between the currency in which such Securities are stated to
be payable and the currency in which such Securities or any of them are to be paid pursuant to such election, and any deletions from or modifications of or additions to the terms of this Indenture to provide for or to facilitate the issuance of
Securities denominated or payable, at the election of the Company or a Holder thereof or otherwise, in a currency other than dollars; 

(11)    the denominations in which Securities of the series shall be issuable, if other than $1,000 or
integral multiples thereof; 
 (12)    if other than the principal amount thereof, the portion of the
principal amount of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01 or which the Trustee shall be entitled to claim pursuant to Section 6.02; 

(13)    if either or both of Section 13.02 and Section 13.03 shall be inapplicable to the
Securities of the series (provided that if no such inapplicability shall be specified, then both Section 13.02 and Section 13.03 shall be applicable to the Securities of the series); 

(14)    any deletions from, modifications of or additions to the Events of Default or covenants of the
Company and the Guarantors with respect to any Securities of the series (whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein); 

(15)    whether the Securities of the series will be convertible into and/or exchangeable for Shares or
other securities or property and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, and any deletions from or modifications or additions to this Indenture to permit or to facilitate the issuance of
such convertible or exchangeable Securities or the administration thereof; and 
 (16)    any other terms
of the Securities of the series. 

  
 12 

 All Securities of any one series shall be substantially identical except (i) as to
denomination and (ii) as may otherwise be provided in or pursuant to such Board Resolution and set forth, or determined in the manner provided, in such Officers’ Certificate or in any such indenture supplemental hereto. 

If any of the terms of the Securities of any series are established by action taken pursuant to a Board Resolution of the Company, a copy of
an appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Company and delivered to the Trustee at the same time as or prior to the delivery of the Officers’ Certificate of the Company setting
forth the terms of the series. 
 Securities of any particular series may be issued at various times, and may have different dates on which
the principal or any installment of principal is payable, different rates of interest, if any, or different methods by which rates of interest may be determined, different dates on which such interest may be payable, different redemption, repurchase
or repayment dates, and such other differences as are provided in or pursuant to the Board Resolution of the Company establishing the series, and any Officers’ Certificate of the Company, or any indenture supplemental hereto relating to such
Securities. 
 With respect to Securities of a series offered in a Periodic Offering, the Board Resolution of the Company (or action taken
pursuant thereto), any Officers’ Certificate of the Company or any supplemental indenture relating to such Securities may provide general terms or parameters for some or all of the Securities of such series and provide either that the specific
terms of particular Securities of such series shall be specified in a Company Order or that such terms shall be determined by the Company in accordance with other procedures specified in a Company Order as contemplated by the fourth paragraph of
Section 2.03. 
 Section 2.02    Form of Trustee’s Certificate of
Authentication. The Trustee’s certificate of authentication shall be in the following form: 
 [FORM OF TRUSTEE’S CERTIFICATE
OF AUTHENTICATION] 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

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

		 		 		 	 Authorized Officer

 Section 2.03    Form, Execution, Authentication, Delivery and
Dating of Securities. The Securities of each series shall be in substantially the forms approved from time to time by or pursuant to a Board Resolution of the Company, or established in one or more Officers’ Certificates of the Company or
indentures supplemental hereto, and shall be printed, lithographed, engraved or otherwise produced in such manner as the officers executing the same may determine, as evidenced by their execution of such Securities. Such Securities may have such
letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed, engraved or otherwise produced thereon as the Company may deem appropriate and as are not inconsistent with the provisions of
this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which the Securities may be listed, or to conform to usage. 

Each Security shall be executed on behalf of the Company by the Chairman or any Vice Chairman of the Board of Directors of the Company or by
the President or any Executive Vice President or any Vice President and by the Treasurer or any Assistant Treasurer or Secretary or any Assistant Secretary of the Company. Such signatures may be the manual or facsimile signatures of the present or
any future such officers. 

  
 13 

 With respect to any series of Securities to which the provisions of Article Fifteen
shall apply, except as otherwise provided in Article Fifteen, a notation of the Guarantee of each Guarantor endorsed on such Securities shall be executed on behalf of such Guarantor by the Chairman of the Board of Directors of such Guarantor, by the
President or any Vice President or the Treasurer of such Guarantor. The signature of any of these officers on such notation of Guarantee may be manual or facsimile. 

Except as otherwise provided in Article Fifteen, each Security and, with respect to any series of Securities to which the provisions of
Article Fifteen shall apply, each notation of Guarantee bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company or a Guarantor, as the case may be, shall bind the Company and such
Guarantor, respectively, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Security or, with respect to any series of Securities to which the provisions of
Article Fifteen shall apply, the notation of Guarantee. At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company and, with respect to any
series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities, and the Trustee in accordance
with such Company Order shall authenticate and deliver such Securities; provided, however, that in the case of Securities offered in a Periodic Offering, the Trustee shall authenticate and deliver such Securities from time to time in accordance with
such other procedures acceptable to the Trustee as may be specified by or pursuant to a Company Order delivered to the Trustee prior to the time of the first authentication of Securities of such series. If the form or terms of the Securities of the
series have been established in or pursuant to one or more Board Resolutions of the Company as permitted by this Section and Section 2.01, in authenticating such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be given, and (subject to Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate of the Company pursuant to Section 16.04 and an Opinion of Counsel
stating: 
 (a)    if the form of such Securities has been established by or pursuant to a Board Resolution of the
Company as permitted by Section 2.01, that such form has been established in conformity with the provisions of this Indenture; 

(b)    if the terms of such Securities have been or, in the case of Securities offered in a Periodic Offering, will be
established by or pursuant to a Board Resolution of the Company as permitted by Section 2.01, that such terms have been or, in the case of Securities offered in a Periodic Offering, will be established in conformity with the provisions of this
Indenture subject, in the case of Securities of a series offered in a Periodic Offering, to any conditions specified in such Opinion of Counsel; and 

(c)    that each such Security, when authenticated and delivered by the Trustee and issued by the Company in the manner
and subject to any conditions specified in such Opinion of Counsel, will constitute a valid and legally binding obligation of the Company and, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the
Guarantee of each Guarantor will constitute valid and binding obligations of such Guarantor in each case, enforceable in accordance with its terms, subject to bankruptcy, insolvency, reorganization, moratorium and other laws of general applicability
relating to or affecting the enforcement of creditors’ rights and to general equity principles. 
 If such form has or terms have been so established,
the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and the Indenture or otherwise in a
manner which is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of Section 2.01 and of the immediately
preceding paragraph, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate of the Company otherwise required pursuant to Section 2.01 if such
Officers’ Certificate addresses each such Security and are delivered at or prior to the authentication upon original issuance of the first Security of such series to be issued. 

  
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 With respect to Securities of a series offered in a Periodic Offering, the Trustee may rely,
as to the authorization by the Company of any of such Securities, the form and terms thereof and the legality, validity, binding effect and enforceability thereof, upon the Opinion of Counsel and the other documents delivered pursuant to
Sections 2.01 and this Section 2.03, as applicable, in connection with the first authentication of Securities of such series. 

Every Security shall be dated the date of its authentication. 

No Security or the Guarantee thereof, if applicable, shall be entitled to any benefit under this Indenture or be valid or obligatory for any
purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual or electronic signature, and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and, together with the Guarantee thereof, if applicable, is entitled to the benefits of this Indenture. 

Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company,
and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 2.09, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never
be entitled to the benefits of this Indenture. 
 Section 2.04    Currency; Denominations;
Regular Record Date. Unless provided otherwise pursuant to Section 2.01 and Section 2.03, as applicable, the principal of and premium, if any, and interest, if any, on the Securities shall be payable in dollars. 

The Securities shall be issuable in such denominations as may be specified as contemplated in Section 2.01. In the absence of any such
specification with respect to any series, such Securities shall be issuable in the denominations contemplated by Section 2.01. 
 The
term “Regular Record Date” as used with respect to an Interest Payment Date (except a date for payment of defaulted interest) shall mean such day or days as shall be specified in the terms of the Securities of any particular series as
contemplated by Section 2.01; provided, however, that in the absence of any such provisions with respect to any series, such term shall mean (a) the last day of the calendar month next preceding such Interest Payment Date if such Interest
Payment Date is the fifteenth day of a calendar month; or (b) the fifteenth day of a calendar month next preceding such Interest Payment Date if such Interest Payment Date is the first day of the calendar month; provided, further, that if the
day which would be the Regular Record Date as provided herein shall be a day on which banking institutions in the City of Chicago or the Borough of Manhattan, The City of New York are authorized by law or required by executive order to close, then
it shall mean the next preceding day which shall not be a day on which such institutions are so authorized or required to close. 
 The
person in whose name any Security is registered at the close of business on the Regular Record Date with respect to an Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date notwithstanding the
cancellation of such Security upon any transfer or exchange thereof subsequent to such Regular Record Date and prior to such Interest Payment Date; provided, however, that if and to the extent the Company and, if the provisions of
Article Fifteen apply to such Security, the Guarantors shall default in the payment of the interest due on such Interest Payment Date, then such defaulted interest shall cease to be payable to the Holder on such Regular Record Date and may
either be paid to the persons in whose names Outstanding Securities are registered at the close of business on a subsequent record date established by notice given by or on behalf of the Company to the Holders of Securities of the series in default
not less than fifteen (15) days preceding such subsequent record date, such record date to be not less than five (5) days preceding the date of payment of such defaulted interest, or be paid at any time in any other lawful manner not
inconsistent with the 

  
 15 

 
requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of
the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 The Trustee shall have
no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers
between or among Depositary participants or beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when
expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 

Section 2.05    Exchange and Registration of Transfer of Securities. Securities of any
series may be exchanged for a like aggregate principal amount of Securities of other authorized denominations of such series. Securities to be exchanged shall be surrendered at the office or agency to be designated and maintained by the Company for
such purpose in the City of Chicago or the Borough of Manhattan, The City of New York, in accordance with the provisions of Section 4.02, and the Company shall execute and register and the Trustee shall authenticate and deliver in exchange
therefor the Security or Securities which the Holder making the exchange shall be entitled to receive. 
 The Company (or its designated
agent (the “Security Registrar”)) shall keep, at such office or agency, a Security Register (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register Securities and
shall register the transfer of Securities as in this Article Two provided. The Security Register shall be in written form or in any other form capable of being converted into written form within a reasonable time. At all reasonable times the
Security Register shall be open for inspection by the Trustee. Upon due presentment for registration of transfer of any Security of a particular series at such office or agency, the Company shall execute and, with respect to any series of Securities
to which the provisions of Article Fifteen shall apply, the Guarantors shall execute and the Company or the Security Registrar shall register and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new
Security or Securities of such series for an equal aggregate principal amount and stated maturity. 
 All Securities presented for
registration of transfer or for exchange, redemption, repurchase or repayment, as the case may be, shall (if so required by the Company or the Trustee) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder or his attorney duly authorized in writing. 
 All Securities and,
with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the notation of Guarantee of each Guarantor thereof issued upon any registration of transfer or exchange of Securities shall be the valid
obligation of the Company and, with respect to any Guarantee, the applicable Guarantor, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange.

 No service charge shall be made for any exchange or registration of transfer of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 The Company shall not be
required to issue, exchange or register a transfer of (a) any Securities of any series for a period of fifteen (15) days next preceding any selection of such Securities of such series to be redeemed, repurchased, or repaid, or (b) any
Security of any such series selected for redemption, repayment or repurchase in whole or in part except, in the case of any such series to be redeemed, repurchased or repaid in part, the portion thereof not to be so redeemed, repurchased or repaid.

 Section 2.06    Temporary Securities. Pending the preparation of definitive
Securities of any series, the Company may execute and, upon receipt of a Company Order, the Trustee shall authenticate and deliver temporary Securities of such series (printed, lithographed, typewritten or otherwise produced). Temporary Securities
of any series shall be issuable in any authorized denominations, and substantially in the form approved from time to time by or pursuant to a Board Resolution of the Company but with such omissions, insertions, substitutions and variations as may be
appropriate for temporary Securities, all as may be determined by the officers executing such temporary Securities, such determination to be evidenced by such execution. Every temporary Security shall be executed by the Company and, with respect to
any series of Securities to which the 

  
 16 

 
provisions of Article Fifteen shall apply, the notation of Guarantee thereon shall be executed by the Guarantors, and such temporary Security shall be authenticated by the Trustee, in each
case, upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities. Except in the case of temporary Securities in global form (which, except as otherwise provided pursuant to Section 2.01,
shall be exchanged in accordance with the provisions of Section 2.05), without unnecessary delay the Company shall execute and shall furnish definitive Securities of such series evidenced by the temporary Securities and thereupon any or all
temporary Securities of such series may be surrendered in exchange therefor without charge at the office or agency to be designated and maintained by the Company for such purpose in the City of Chicago or the Borough of Manhattan, The City of New
York, in accordance with the provisions of Section 4.02, and the Trustee shall authenticate and deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of the same series and stated
maturity of authorized denominations. Until so exchanged the temporary Securities of any series shall be entitled to the same benefits under this Indenture as definitive Securities of such series. 

If temporary Securities of any series are issued in global form, any such temporary Global Security shall, unless otherwise provided therein
pursuant to Section 2.01, be delivered to the office of the Depositary designated for such temporary Global Security for credit to the respective accounts of the beneficial owners of such Securities (or to such other accounts as they may
direct). 
 Section 2.07    Mutilated, Destroyed, Lost or Stolen Securities. In case
any temporary or definitive Security of any series shall become mutilated or be destroyed, lost or stolen, the Company and, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, each Guarantor in the
case of a mutilated Security shall, and in the case of a lost, stolen or destroyed Security may, in its discretion, execute, and upon receipt of a Company Order the Trustee shall authenticate and deliver, a new Security of the same series and stated
maturities of principal and interest as the mutilated, destroyed, lost or stolen Security, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the
Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and to the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of
destruction, loss or theft, the applicant shall also furnish to the Company and to the Trustee evidence to their satisfaction of the destruction, loss or theft of such Security, as the case may be, and of the ownership thereof. The Trustee may
authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith and in addition a further sum not exceeding ten dollars for each Security so issued in substitution. In case any Security which
has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substituted Security, pay or authorize the payment of the same (without surrender thereof except in the case of a
mutilated Security) if the applicant for such payment shall furnish the Company and the Trustee with such security or indemnity as they may require to save each of them harmless and, in case of destruction, loss or theft, evidence to the
satisfaction of the Company of the destruction, loss or theft of such Security and of the ownership thereof. 
 Every substituted Security,
together with the notation of any Guarantee thereof, issued pursuant to the provisions of this Section by virtue of the fact that any Security is destroyed, lost or stolen shall, with respect to such Security, constitute an additional
contractual obligation of the Company and, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, each Guarantor whether or not the destroyed, lost or stolen Security shall be found at any time, and
shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities duly issued hereunder. 

All Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities appertaining thereto and shall, to the extent permitted by law, preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the
contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 

  
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 Section 2.08    Securities in Global
Form. If Securities of a series are issuable in global form, then, notwithstanding the provisions of Section 2.01, any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may
provide that it shall represent the aggregate amount of Outstanding Securities from time to time endorsed thereon and that the aggregate amount of Outstanding Securities represented thereby may from time to time be reduced to reflect exchanges. Any
endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by the Trustee in such manner and upon instructions given by such Person as shall
be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 2.03 or Section 2.06. 

Section 2.09    Cancellation. All Securities surrendered for payment, redemption,
repurchase, repayment, exchange or registration of transfer or for credit against any sinking fund payment shall, if surrendered to the Company or any agent of the Company or of the Trustee, be delivered to the Trustee and promptly cancelled by it
or, if surrendered to the Trustee, be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by or pursuant to any of the provisions of this Indenture. The Trustee shall dispose of cancelled Securities in
its customary manner and, upon written request, deliver a certificate of such disposal to the Company or, if requested to do so by the Company, shall return such cancelled Securities to the Company. 

Section 2.10    Computation of Interest. Except as otherwise specified as contemplated by
Section 2.01 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 2.11    CUSIP Numbers. The Company in issuing the Securities may use
“CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption, repurchase or repayment as a convenience to Holders; provided that any such notice may state that no
representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption, repurchase or repayment and that reliance may be placed only on the other identification numbers printed
on the Securities, and any such redemption, repurchase or repayment shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 

ARTICLE THREE 

REDEMPTION OF SECURITIES 

Section 3.01    Redemption of Securities; Applicability of Article. Redemption of
Securities of any series as permitted or required by the terms thereof shall be made in accordance with such terms and this Article Three; provided, however, that if any provision of any series of Securities shall conflict with any provision of this
Article Three, the provisions of such series of Securities shall govern. 

Section 3.02    Tax Redemption. The Company shall have the option to redeem the
Securities of any series, in whole but not in part, at any time prior to the maturity date of the principal of the Securities of any series, at a redemption price equal to the principal amount thereof plus accrued but unpaid interest to the date of
redemption, if, with respect to such series: 
 (a)    the Company determines that, as a result of: 

(1)    any change in, amendment to, or announced proposed change in the laws or any regulations or rulings
promulgated thereunder of a Home Country Jurisdiction (or of any political subdivision or taxing authority thereof) or, in the event of the assumption of the obligations of the 

  
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Company hereunder and under the Securities or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the assumption of the obligations of any
Guarantor hereunder and under a Guarantee, by a successor Person not organized under the laws of a Home Country Jurisdiction (or, in each case, of any political subdivision or taxing authority thereof) in accordance with Section 11.01, the
jurisdiction in which such successor Person is organized (or deemed resident for tax purposes); or 

(2)    any change in the application or official interpretation of such laws, regulations or rulings, or
(in either case) any change in the application or official interpretation of, or any execution of or amendment to, any treaty or treaties affecting taxation to which any such jurisdiction is a party, which change, execution or amendment becomes
effective on or after (i) the issue date of the Securities or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, a Guarantee relating to such Securities unless clause (ii) applies, (ii)
in the event of the assumption of the obligations of the Company hereunder and under the Securities or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the assumption of the obligations of any
Guarantor hereunder and under a Guarantee, by a successor Person not organized under the laws of a Home Country Jurisdiction (or, in each case, any political subdivision or taxing authority thereof), with respect to taxes imposed by such other
jurisdiction in accordance with Section 11.01, the date of the transaction resulting in such assumption, or (iii) such other date specified in the Securities of such series or, if applicable, in a Guarantee relating to such Securities of
such series, 
 the Company, such Guarantor or such successor Person, as applicable, would be required to pay Additional Amounts with respect to such series
of Securities or its Guarantee relating to such Securities on the next succeeding Interest Payment Date and the payment of such Additional Amounts cannot be avoided by the use of reasonable measures available to the Company, such Guarantor, as
applicable, or such successor Person; or 
 (b)    the Company determines, based upon an opinion of independent counsel
of recognized standing that, as a result of any action taken by any legislative body of, taxing authority of, or any action brought in a court of competent jurisdiction in, a Home Country Jurisdiction (or any political subdivision or taxing
authority thereof) or, in the event of the assumption of the obligations of the Company hereunder and under the Securities or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the assumption of
the obligations of any Guarantor hereunder and under a Guarantee, by a successor Person not organized under the laws of a Home Country Jurisdiction (or, in each case, of any political subdivision or taxing authority thereof) in accordance with
Section 11.01, the jurisdiction in which such successor Person is organized (or deemed resident for tax purposes), which action is taken or brought on or after (i) the issue date of the Securities or, with respect to any series of
Securities to which the provisions of Article Fifteen shall apply, a Guarantee relating to such Securities unless clause (ii) applies, (ii) in the event of the assumption of the obligations of the Company hereunder and under the Securities
or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the assumption of the obligations of any Guarantor hereunder and under a Guarantee, by a successor Person not organized under the laws of a
Home Country Jurisdiction (or, in each case, of any political subdivision or taxing authority thereof) in accordance with Section 11.01, with respect to taxes imposed by such other jurisdiction, the date of the transaction resulting in such
assumption, or (iii) such other date specified in the Securities of such series, that there is a substantial probability that the circumstances described in subsection (a) above would exist. 

(c)    Notwithstanding any other provision of this Indenture, no notice of redemption pursuant to clause (a) or (b)
of this Section 3.02 may be given earlier than ninety (90) days prior to the earliest date on which the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, a Guarantor, or such
successor Person would be obligated to pay Additional Amounts as contemplated by clause (a) or (b), as the case may be. 

  
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 (d)    The Company or, with respect to any series of Securities to which
the provisions of Article Fifteen shall apply, a Guarantor, or such successor Person will also pay to each Holder, or make available for payment to each such Holder, on the redemption date any Additional Amounts resulting from the payment of
such redemption price. 
 (e)    Prior to the delivery of any notice of redemption pursuant to this Section 3.02,
the Company will deliver to the Trustee an Officers’ Certificate of the Company stating that the Company is entitled to effect or cause a redemption and setting forth a statement of facts showing that the conditions precedent of the right so to
redeem or cause such redemption have occurred and, if the redemption is pursuant to clause (b) above, the opinion of independent counsel referred to in such clause (b), which shall be in a form satisfactory to the Trustee. Delivery of any
notice of redemption pursuant to this Section 3.02 will be conclusive and binding on the Holders of the Securities being redeemed. Once the Company delivers such Officers’ Certificate to the Trustee, any notice of redemption that has been
given shall be irrevocable. 
 Section 3.03    Notice of Redemption; Selection of
Securities. In case the Company shall desire to exercise the right to redeem all or, as the case may be, any part of a series of Securities pursuant to this Article Three or the terms and provisions otherwise applicable to such series, it
shall fix a date for redemption, it shall prepare the notice of such redemption and it shall mail or, at the Company’s request and expense, the Trustee shall mail such notice of redemption at least ten (10) and not more than ninety
(90) days prior to the date fixed for redemption to the Holders of the Securities and, in the case of Securities in global form, to the Depositary of such series which are Securities to be redeemed as a whole or in part at their last addresses
as the same appear on the Security Register. Such mailing shall be by prepaid first class mail or in the case of global securities, delivered electronically to the Depository. Any notice which is mailed in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not the Holder shall have received such notice. In any case, failure to give notice by mail, or any defect in the notice to the Holder of any Security of a series designated for redemption as
a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security of such series. 
 Each notice
of redemption shall specify the date fixed for redemption, the redemption price at which the applicable Securities are to be redeemed, the Place of Payment, that payment will be made upon presentation and surrender of such Securities and that on and
after said date interest, if any, thereon or on the portions thereof to be redeemed will cease to accrue. In case any Security is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be
redeemed and shall state that, upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion thereof will be issued of the same series. In the case of Securities of any series that are convertible
or exchangeable into Shares or other securities or property, the notice of redemption shall state the then current conversion or exchange price or rate, the date or dates on which the right to convert or exchange the principal of the Securities of
such series to be redeemed shall commence or terminate, as applicable, and the place or places where and the Persons to whom such Securities may be surrendered for conversion or exchange, 

Prior to the redemption date specified in the notice of redemption given as provided in this Section, the Company or, if the provisions of
Article Fifteen shall apply to the Securities to be redeemed, the Guarantors will deposit in trust with the Trustee or with one or more paying agents (or, if the Company is acting as its own paying agent, segregate and hold in trust as provided
in Section 4.03) an amount of money sufficient to redeem on the redemption date all the Securities or portions of Securities so called for redemption at the appropriate redemption price, together with accrued interest, if any, to the date fixed
for redemption. The Company will give the Trustee notice of each redemption at least forty-five (45) days prior to the date fixed for redemption (unless a shorter notice is acceptable to the Trustee) as to the aggregate principal amount of
Securities to be redeemed. 
 If less than all the Securities of a series are to be redeemed, the Securities to be redeemed shall be
selected by lot if the Securities are in definitive form, and, if the Securities are in global form then in accordance with the procedures of the Depositary; provided however, that no such partial redemption shall reduce the portion of the

  
 20 

 
principal amount of a Security of such series not redeemed to less than the minimum denomination for a Security of such series established herein or pursuant hereto. In the case of certificated
Securities, the Trustee shall promptly notify the Company in writing of the Securities of such series selected for redemption and, in the case of any Securities of such series selected for partial redemption, the principal amount thereof to be
redeemed. For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the
principal of such Securities which has been or is to be redeemed. 

Section 3.04    Payment of Securities Called for Redemption. If notice of redemption has
been given as above provided, the Securities or portions of Securities with respect to which such notice has been given shall become due and payable on the date and at the Place of Payment stated in such notice at the applicable redemption price and
on and after said date (unless the Company and, if the provisions of Article Fifteen apply to the Securities to be redeemed, the Guarantors shall default in the payment of the applicable redemption price) interest on the Securities or portions
of Securities so called for redemption shall cease to accrue. On presentation and surrender of such Securities subject to redemption at said Place of Payment in said notice specified, the said Securities or the specified portions thereof called for
redemption shall be paid and redeemed by the Company at the applicable redemption price. Interest, if any, payable on an Interest Payment Date that occurs on or prior to the date fixed for redemption shall continue to be payable (but without
interest thereon unless the Company shall default in payment thereof) to the Holders thereof registered as such on the Security Register on the relevant Regular Record Date for such Interest Payment Date subject to the terms and provisions of
Section 2.04. At the option of the Company, payment may be made by check, wire transfer or other electronic means to (or to the order of) the Holders of the Securities or other persons entitled thereto against presentation and surrender of such
Securities. 
 Upon presentation of any Security redeemed in part only (with, if the Company or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), the Company and, with respect to any series of Securities to which the
provisions of Article Fifteen shall apply, each Guarantor shall execute and the Trustee shall authenticate and deliver to the Holder thereof, at the expense of the Company, a new Security or Securities of the same series and stated maturity, of
authorized denominations, in aggregate principal amount equal to the unredeemed portion of the Security so presented. 
 ARTICLE FOUR

 PARTICULAR COVENANTS OF THE COMPANY 

Section 4.01    Payment of Principal, Premium and Interest. The Company will duly and
punctually pay or cause to be paid the principal of and premium, if any, and interest, if any, on each of the Securities, whether payable in cash, Shares or other securities or property, at the place, at the respective times and in the manner
provided in the terms of the applicable Securities and in this Indenture. The interest on Securities shall be payable only to or upon the written order of the Holders thereof and at the option of the Company may be paid by wire transfer, other
electronic means or mailing checks for such interest payable to or upon the order of such Holders at their last addresses as they appear on the Security Register for such Securities. 

Section 4.02    Offices for Notices and Payments, etc. As long as any of the Securities
of a series remain outstanding, the Company will designate and maintain, in the City of Chicago and the Borough of Manhattan, The City of New York, an office or agency where the Securities of such series may be presented for registration of transfer
and for exchange as in this Indenture provided, an office or agency where notices and demands to or upon the Company in respect of the Securities of such series or of this Indenture may be served, and an office or agency where the Securities of such
series may be presented for payment. The Company will give to the Trustee notice of the location of each such office or agency and of any change in the location thereof. In case the Company shall fail to maintain any such office or agency in the
City of Chicago or the Borough of Manhattan, The City of New York, or shall fail to give such notice of the location or of any change in the location 

  
 21 

 
thereof, presentations may be made and notices and demands may be served at the corporate trust office of the Trustee in the City of Chicago and the Company hereby appoints the Trustee as its
agent to receive all such presentations, notices and demands. 
 The Company may also from time to time designate one or more other offices
or agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner
relieve the Company of its obligations to maintain an office or agency in each place of payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of
any change in the location of any such other office or agency. 
 The Company hereby initially designates each of The Bank of New York
Mellon Trust Company, N.A., located at 2 N. LaSalle Street, 7th Floor, Chicago, Illinois 60602 and The Bank of New York Mellon Trust Company, N.A. located at 240 Greenwich Street, New York, New
York 10286 as a Security Registrar and as the office or agency of the Company in the City of Chicago and the Borough of Manhattan, the City of New York, respectively, where the Securities may be presented for payment and for registration of transfer
and for exchange as in this Indenture provided and where notices and demands to or upon the Company in respect of the Securities of any series or of this Indenture may be served. 

Section 4.03    Provisions as to Paying Agent. 

(a)    Whenever the Company shall appoint a paying agent other than the Trustee with respect to the Securities of any
series, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section, 

(1)    that it will comply with the provisions of the Trust Indenture Act applicable to it as a paying
agent, 
 (2)    that it will hold sums held by it as such agent for the payment of the principal of and
premium, if any, and interest, if any, on the Securities of such series in trust for the benefit of the Holders of the Securities of such series entitled thereto and will notify the Trustee of the receipt of sums to be so held, 

(3)    that it will give the Trustee notice of any failure by the Company (or by any other obligor on the
Securities of such series) to make any payment of the principal of and premium, if any, and interest, if any, on the Securities of such series when the same shall be due and payable, and 

(4)    at any time during the continuance of any such default, upon the written request of the Trustee,
forthwith pay to the Trustee all sums so held in trust by such paying agent. 
 (b)    If the Company shall act as its
own paying agent, it will, on or before each due date of the principal of and premium, if any, and interest, if any, on the Securities of any series set aside, segregate and hold in trust for the benefit of the Holders of the Securities of such
series entitled thereto a sum sufficient to pay such principal, premium, or interest so becoming due. The Company will promptly notify the Trustee of any failure to take such action. 

(c)    Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due
date of the principal of and premium, if any, and interest, if any, on any Securities of that series, deposit with a paying agent a sum sufficient to pay such principal, premium, or interest, so becoming due, such sum to be held in trust for the
benefit of the Holders of the Securities of such series entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 

  
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 (d)    Anything in this Section to the contrary notwithstanding,
the Company may, at any time, for the purpose of obtaining a satisfaction and discharge with respect to one or more or all series of this Indenture, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust by it or any
paying agent hereunder as required by this Section, such sums to be held by the Trustee upon the trusts herein contained. 

(e)    Anything in this Section to the contrary notwithstanding, the agreement to hold sums in trust as provided in
this Section is subject to the provisions of Sections 12.02 and 12.03. 
 (f)    To the extent that the terms
of any Securities established pursuant to Section 2.01 provide that any principal of or premium or interest, if any, on any such Securities is or may be payable in Shares or other securities or property, then the provisions of this
Section 4.03 shall apply, mutatis mutandis, to such Shares or other securities or property. 

Section 4.04    Statement by Officers as to Default. 

(a)    The Company will deliver to the Trustee, on or before a date not more than four months after the end of each fiscal
year of the Company ending after the date hereof, an Officers’ Certificate of the Company, which shall include the statements provided for in Section 16.04 and stating whether or not to the best knowledge of the signers thereof the Company
is in default in the performance or observance of any of the terms, provisions and conditions of this Indenture to be performed or observed by it and, if the Company shall be in default, specifying all such defaults and the nature thereof of which
they may have knowledge. 
 (b)    The Company will deliver to the Trustee, as soon as practicable upon becoming aware
of any default (which word has the meaning of the word “default” as used in Section 6.07) or Event of Default with respect to a particular series of Securities that has occurred and is continuing, a written notice setting forth the
details of such default or Event of Default. 
 Section 4.05    Payment of Additional
Amounts. 
 All payments of principal of and premium, if any, and interest, if any, on all Securities and, with respect to any series of
Securities to which the provisions of Article Fifteen shall apply, a Guarantee shall be free and clear of and without withholding or deduction for or on account of any present or future income, stamp or other tax, duty, levy, impost, assessment
or other governmental charge of any nature whatsoever imposed or levied by or on behalf of the government of a Home Country Jurisdiction, of any territory of a Home Country Jurisdiction or by any authority or agency therein or thereof having the
power to tax (collectively, “Taxes”), unless the Company, the applicable Guarantor or a paying agent is required to withhold or deduct Taxes by law. 

If the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, a Guarantor, or a
withholding agent is so required to withhold or deduct any amount for or on account of Taxes from any payment made in respect of the Securities or, with respect to any series of Securities to which provisions of Article Fifteen shall apply, its
Guarantee, the Company or such Guarantor, as applicable, shall pay such additional amounts (“Additional Amounts”) as may be necessary such that the net amount received by each beneficial owner (including such Additional Amounts), after
such withholding or deduction, shall not be less than the amount such beneficial owner would have received if the Taxes had not been withheld or deducted; provided that no Additional Amounts will be payable with respect to Taxes: 

(1)    that would not have been imposed but for the existence of any present or former connection between
such Holder or beneficial owner of the Securities (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder or beneficial owner, if such Holder or beneficial owner is an estate, trust,
partnership or corporation), and such Home Country Jurisdiction or any political subdivision or territory or possession thereof or therein or area subject to its jurisdiction, including, without limitation, such Holder or beneficial owner (or such
fiduciary, settlor, 

  
 23 

 
beneficiary, member, shareholder or possessor) being or having been a citizen or resident thereof or treated as a resident thereof or domiciled thereof or a national thereof or being or having
been present or engaged in trade or business therein or having or having had a permanent establishment therein; 

(2)    that are estate, inheritance, gift, sales, transfer, personal property, wealth or similar taxes,
duties, assessments or other governmental charges; 
 (3)    payable other than by withholding from
payments of principal of and premium, if any, or interest, if any, on the Securities or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, payments in respect of the Guarantee; 

(4)    that would not have been imposed but for the failure of the applicable recipient of such payment to
comply with any certification, identification, information, documentation or other reporting requirement to the extent: 

(i)    such compliance is required by applicable law or administrative practice or an applicable treaty as
a precondition to exemption from, or reduction in, the rate of deduction or withholding of such Taxes; and 

(ii)    at least thirty (30) days before the first payment date with respect to which such Additional
Amounts or Taxes shall be payable, the Company or such Guarantor, as the case may be, shall have notified such recipient in writing that such recipient shall be required to comply with such requirement; 

(5)    that would not have been imposed but for the presentation of a Security (where presentation is
required) for payment on a date more than thirty (30) days after the date on which such payment became due and payable or the date on which payment thereof was duly provided for, whichever occurred later; 

(6)    that are imposed on a payment and are required to be made pursuant to European Council Directive
2003/48/EC or any other directive amending, supplementing or replacing such directive, or any law implementing or complying with, or introduced in order to conform to, such directive or directives; 

(7)    that are imposed or withheld pursuant to Sections 1471 through 1474 of the U.S. Internal
Revenue Code of 1986, as amended (the “Code”), as of the issue date of the Securities (or any amended or successor version of such sections), any regulations promulgated thereunder, any official interpretations thereof, any similar law or
regulation adopted pursuant to an intergovernmental agreement between a non-U.S. jurisdiction and the United States with respect to the foregoing or any agreements entered into pursuant to
Section 1471(b)(1) of the Code; 
 (8)    that would not have been imposed if presentation for
payment of the relevant Securities or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantee, had been made to a paying agent other than the paying agent to which the presentation was
made; or 
 (9)    any combination of the foregoing clauses (1) through (8); 

nor shall Additional Amounts be paid with respect to any payment of principal of or premium, if any, or interest, if any, on any Securities or, with respect
to any series of Securities to which the provisions of Article Fifteen shall apply, any payment in respect of a Guarantee, to any such Holder or beneficial owner who is a fiduciary or a partnership or a beneficial owner who is other than the
sole beneficial owner of such payment to the extent a beneficiary or settlor with respect to such fiduciary or a member of such partnership or a beneficial owner would not have been entitled to such Additional Amounts had it been the Holder of the
Security. 

  
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 (b)    All references in this Indenture, other than in Articles Twelve
or Thirteen, to the payment of the principal of or premium, if any, or interest, if any, on or the net proceeds received on the sale or exchange of, any Securities or as applicable, with respect to a Guarantee, shall be deemed to include Additional
Amounts to the extent that, in that context, Additional Amounts are, were or would be payable. 
 (c)    In the event
that a paying agent with respect to Securities of a particular series is maintained in any member state of the European Union, the Company shall maintain a paying agent in at least one member state that will not be obliged to withhold or deduct
taxes pursuant to European Council Directive 2003/48/EC or any other directive amending, supplementing or replacing such directive or any law implementing or complying with, or introduced in order to conform to such directive or directives, provided
there is at least one member state that does not require a paying agent to withhold or deduct pursuant to such directive. 

(d)    The obligations of the Company and, with respect to any series of Securities to which the provisions of
Article Fifteen shall apply, each Guarantor, to pay Additional Amounts if and when due will survive the termination of this Indenture and the payment of all other amounts in respect of the Securities. 

(e)    If, as a result of the Company’s or, with respect to any series of Securities to which the provisions of
Article Fifteen shall apply, a Guarantor’s consolidation, merger with or conversion into a successor Person organized under the laws of a jurisdiction other than a Home Country Jurisdiction (or, in each case, any political subdivision or
taxing authority thereof) or the conveyance, transfer or lease by the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, a Guarantor, of its assets substantially as an entirety to such
successor Person, and such an entity expressly assumes the obligations of the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, such Guarantor, under this Indenture and the Securities
or its Guarantee, as applicable, such successor Person will pay Additional Amounts on the same basis set forth in this Section 4.05, except that references to a “Home Country Jurisdiction” will be treated as references to both the
Home Country Jurisdictions and the country in which such successor Person is organized or resident (or deemed resident for tax purposes). 

ARTICLE FIVE 

SECURITYHOLDER LISTS AND REPORTS 

BY THE COMPANY AND THE TRUSTEE 

Section 5.01    Securityholder Lists. The Company covenants and agrees that it will
furnish or cause to be furnished to the Trustee with respect to the Securities of each series: 
 (a)    semi-annually,
not later than each Interest Payment Date (in the case of any series having semi-annual Interest Payment Dates) or not later than the dates determined pursuant to Section 2.01 (in the case of any series not having semi-annual Interest Payment
Dates), a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of the Regular Record Date (or as of such other date as may be determined pursuant to Section 2.01 for
such series) therefor, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall not differ in any respect from the most recent list furnished to the Trustee by the Company; and 

(b)    at such other times as the Trustee may request in writing, within thirty (30) days after receipt by the
Company of any such request, a list in such form as the Trustee may reasonably require of the names and addresses of the Holders of Securities of the particular series specified by the Trustee as of a date not more than fifteen (15) days prior
to the time such information is furnished; 

  
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 provided, however, that in the case of clauses (a) and (b), if and so long as the Trustee shall be the
Security Registrar, any such list shall exclude names and addresses received by the Trustee in its capacity as Security Registrar, and such list shall not be required to be furnished. 

Section 5.02    Preservation and Disclosure of Lists. 

(a)    The Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and
addresses of the Holders of each series of Securities contained in the most recent list furnished to it as provided in Section 5.01 or received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to
it as provided in Section 5.01 upon receipt of a new list so furnished. 
 (b)    In case three or more Holders of
Securities of a series (hereinafter referred to as “applicants”) apply in writing to the Trustee and furnish to the Trustee reasonable proof that each such applicant has owned a Security of such series for a period of at least six months
preceding the date of such application, and such application states that the applicants’ desire to communicate with other Holders of Securities of such series or with Holders of all Securities with respect to their rights under this Indenture
or under such Securities and it is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five (5) Business Days after the receipt of such application, at its
election, either 
 (1)    afford to such applicants access to the information preserved at the time by
the Trustee in accordance with the provisions of subsection (a) of this Section, or 
 (2)    inform
such applicants as to the approximate number of Holders of Securities of such series or all Securities, as the case may be, whose names and addresses appear in the information preserved at the time by the Trustee, in accordance with the provisions
of subsection (a) of this Section, and as to the approximate cost of mailing to such Securityholders the form of proxy or other communication, if any, specified in such application. 

If the Trustee shall elect not to afford to such applicants access to such information, the Trustee shall, upon the written request of such
applicants, send to each Holder of such series or all Securities, as the case may be, whose name and address appear in the information preserved at the time by the Trustee in accordance with the provisions of subsection (a) of this
Section a copy of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be sent and of payment, or provision for the payment, of the reasonable
expenses of delivery, unless within five (5) days after such tender, the Trustee shall send to such applicants and file with the Commission, together with a copy of the material to be sent, a written statement to the effect that, in the opinion
of the Trustee, such delivery would be contrary to the best interests of the Holders of Securities of such series or all Securities, as the case may be, or would be in violation of applicable law. Such written statement shall specify the basis of
such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of an order sustaining one or
more of such objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met, and shall enter an order so declaring, the Trustee shall send copies of such material to all such
Holder with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting their application. 

(c)    Each and every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee
that neither the Company nor the Trustee or any agent of the Company or of the Trustee shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in accordance with the
provisions of subsection (b) of this Section, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of sending any material pursuant to a request made under said
subsection (b). 

  
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 Section 5.03    Reports by the Company.
The Company covenants: 
 (a)    to file with the Trustee within thirty (30) days after the Company files the same
with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company
may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file with
the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of
the Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 

(b)    to file with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time to
time by the Commission, such additional information, documents, and reports with respect to compliance by the Company with the conditions and covenants provided for in this Indenture as may be required from time to time by such rules and
regulations; and 
 (c)    to transmit to all the Holders of Securities of each series, as the names and addresses of
such Holders appear on the Security Register, within thirty (30) days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company with respect to each such series
pursuant to subsections (a) and (b) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 

Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). 
 Section 5.04    Reports by the Trustee.

 (a)    The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture
as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within sixty (60) days after each May 15th
following the date of the initial issuance of Securities under this Indenture deliver to Holders a brief report, dated as of such May 15th, which complies with the provisions of such Section 313(a). 

(b)    A copy of each such report shall, at the time of such transmission to Holders of Securities of a particular series,
be filed by the Trustee with each stock exchange, if any, upon which the Securities of such series are listed and also with the Commission and the Company. The Company agrees to notify the Trustee when and as the Securities of any series become
listed or delisted on any stock exchange. 
 ARTICLE SIX 

REMEDIES ON DEFAULT 

Section 6.01    Events of Default. In case one or more of the following Events of Default
with respect to a particular series of Securities shall have occurred and be continuing: 
 (a)    default in the
payment of the principal of or premium, if any, on the Securities of such series as and when the same shall become due and payable (whether payable in cash or in Shares or other securities or property), either at maturity, upon redemption,
repurchase or repayment, by declaration or otherwise; or 

  
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 (b)    default in the payment of any installment of interest, if any, or
in the payment of any Additional Amount upon any of the Securities of such series as and when the same shall become due and payable, and continuance of such default for a period of thirty (30) days; or 

(c)    with respect to any series of Securities to which the provisions of Article Fifteen shall apply as
contemplated by Section 2.01, any Guarantee ceases to be in full force and effect or is declared to be null and void and unenforceable with respect to the Securities of such series or any Guarantee is found to be invalid or any Guarantor denies
its liability under its Guarantee (other than by reason of release of such Guarantor in accordance with the terms hereof) with respect to the Securities of such series; or 

(d)    failure on the part of the Company or, with respect to any series of Securities to which the provisions of
Article Fifteen shall apply, any Guarantor duly to observe or perform any other of the covenants or agreements on the part of the Company or, if applicable, such Guarantor in this Indenture applicable to Securities of such series for a period
of ninety (90) days after the date on which written notice of such failure, specifying such failure and requiring the Company or, if applicable, such Guarantor to remedy the same and stating that such notice is a “Notice of Default”
hereunder, shall have been given to the Company or if applicable, such Guarantor by the Trustee, or to the Company and if applicable, such Guarantor and the Trustee by the Holders of at least twenty-five percent (25%) in aggregate principal amount
of the Securities of such series at the time Outstanding; or 
 (e)     a court having jurisdiction in the premises
shall enter a decree or order for relief in respect of the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, any Guarantor in an involuntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or appointment of an administrator, receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or, with respect to any series of Securities to
which the provisions of Article Fifteen shall apply, any Guarantor or for any substantial part of property of the Company or, if applicable, any Guarantor or ordering the winding-up or liquidation of its
affairs and such decree, order or appointment shall remain unstayed or in place and in effect for a period of ninety (90) days; or 

(f)    except for any case, proceeding, meeting, resolution or order in connection with a
winding-up of the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, any Guarantor for the purposes of a solvent reorganization or reconstruction
of the Company or such Guarantor, as applicable, either the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, any Guarantor shall commence a voluntary case or proceeding under any
applicable bankruptcy, insolvency or other similar law in any jurisdiction now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case or proceeding under any such law, or shall consent to the appointment
of or taking possession by an administrator, receiver, liquidator, assignee, trustee, custodian, sequestrator (or similar official) of the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall
apply, any Guarantor or for any substantial part of the property of the Company or, if applicable, any Guarantor or shall make any general assignment for the benefit of creditors; 

(g)    default in the delivery of any Shares, together with cash in lieu of fractional shares, or any other securities or
property (including cash) when required to be delivered upon conversion of any convertible Security of such series established pursuant to Section 2.01 or upon the exchange of any Security of such series which is exchangeable for other
securities or property, and continuance of such default for a period of 10 Business Days; or 
 (h)    any other Event
of Default provided with respect to Securities of such series; 
 then in each and every such case, unless the principal amount of all the Securities of
such series shall have already become due and payable, either the Trustee or the Holders of not less than twenty-five percent (25%) in aggregate principal amount of the Securities of such series then Outstanding, by notice in writing to the Company
and, with 

  
 28 

 
respect to any series of Securities to which the provisions of Article Fifteen shall apply, any Guarantor (and to the Trustee if given by Holders of such Securities) may declare the
principal amount of and accrued and unpaid interest, if any, on all the Securities (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) of such series to be due and payable
immediately, and upon any such declaration such principal amount (or specified amount), and accrued and unpaid interest, if any, shall become and shall be immediately due and payable. 

The foregoing provisions, however, are subject to the conditions that if, at any time after the principal of and accrued and unpaid interest,
if any, on the Securities of any series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Company or, with respect to any
series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors shall pay or shall deposit with the Trustee a sum sufficient to pay (or, to the extent that the terms of the Securities of such series established
pursuant to Section 2.01 expressly provide for payment to be made in Shares or other securities or property, together with cash in lieu of fractional shares or securities, sufficient to pay) all matured installments of interest, if any, due
upon all the Securities of such series and the principal of and premium, if any, on all Securities of such series (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) which
shall have become due otherwise than by acceleration (with interest, if any, upon such principal and premium, if any, and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the
same rate as the rate of interest specified in the Securities of such series, as the case may be (or, with respect to Original Issue Discount Securities at the rate specified in the terms of such Securities for interest on overdue principal thereof
upon maturity, redemption, repurchase, repayment or acceleration of such series, as the case may be), to the date of such payment or deposit), and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents,
attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct, and any and all Events of Default under the Indenture with respect to such
series, other than the nonpayment of principal on Securities of that series that shall not have become due by their terms shall have been remedied or waived, then and in every such case the Holders of a majority in aggregate principal amount of the
Securities of such series then Outstanding, by written notice to the Company and to the Trustee, may rescind and annul such declaration and its consequences; provided no such waiver or rescission and annulment shall extend to or shall affect any
subsequent default or shall impair any right consequent thereon. 
 In case the Trustee shall have proceeded to enforce any right under this
Indenture and such proceedings shall have been discontinued or abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Guarantors
(if applicable), the Trustee and the Holders of Securities, as the case may be, shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Guarantors (if applicable), the
Trustee and the Holders of Securities, as the case may be, shall continue as though no such proceedings had been taken. 

Section 6.02    Payment of Securities on Default; Suit Therefor. The Company covenants
that (1) in case default shall be made in the payment of any installment of interest, if any, on any of the Securities of any series, as and when the same shall become due and payable, and such default shall have continued for a period of
thirty (30) days, or (2) in case default shall be made in the payment of the principal of or premium, if any, on any of the Securities of any series, as and when the same shall have become due and payable, whether upon maturity of such
series or upon redemption, repurchase or repayment or upon declaration or otherwise, then upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the Holders of the Securities of such series, the whole amount that then
shall have become due and payable on all such Securities of such series, for principal, premium, if any, or interest, if any, as the case may be, with interest upon the overdue principal, premium, if any and (to the extent that payment of such
interest is enforceable under applicable law) upon overdue installments of interest at the same rate as the rate of interest specified in the Securities of such series (or, with respect to Original Issue Discount Securities, at the rate specified in
the terms of such Securities for interest on overdue principal 

  
 29 

 
thereof upon maturity, redemption, repurchase, repayment or acceleration of such series, as the case may be); and, in addition thereto, such further amount as shall be sufficient to cover
reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct. 

In case the Company shall fail forthwith to pay such amounts upon such demand by the Trustee and, with respect to any series of Securities to
which the provisions of Article Fifteen shall apply, such amounts have not been paid by the Guarantors under their respective Guarantees, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to
institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the
Company, the Guarantors (with respect to any series of Securities to which the provisions of Article Fifteen shall apply) or any other obligor upon such Securities and collect in the manner provided by law out of the property of the Company,
the Guarantors (if applicable) or any other obligor upon such Securities wherever situated the moneys adjudged or decreed to be payable. 

In case there shall be pending proceedings for the bankruptcy or for the reorganization of the Company, any Guarantor (with respect to any
series of Securities to which the provisions of Article Fifteen shall apply) or any other obligor upon Securities of any series under Title 11 of the U.S. Code or any other applicable law, or in case a receiver or trustee shall have been
appointed for the property of the Company, any Guarantor (if applicable) or such other obligor, or in the case of any other judicial proceedings relative to the Company, any Guarantor (if applicable) or such other obligor, or to the creditors or
property of the Company, such Guarantor (if applicable) or such other obligor, the Trustee, irrespective of whether the principal of the Securities of such series shall then be due and payable as therein expressed or by declaration or otherwise and
irrespective of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings or otherwise to the extent permitted by the court, to file and prove a
claim or claims for the whole amount of principal (or, with respect to Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that series), premium, if any, and interest, if any, owing and unpaid
in respect of the Securities of such series, and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee, its agents,
attorneys and counsel, and for reimbursement of all reasonable expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct) and of the Holders of the Securities of such series
allowed in any such judicial proceedings relative to the Company, any Guarantor (if applicable) or other obligor upon the Securities of such series, or to the creditors or property of the Company, such Guarantor (if applicable) or such other
obligor, and to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders of such series and of the Trustee on their behalf;
and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the Holders of the Securities of such series to make payments to the Trustee and, in the event that the Trustee shall consent to the making of
payments directly to the Securityholders of such series, to pay to the Trustee such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other reasonable expenses and liabilities
incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct. 
 Nothing herein contained
shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 
 All rights of action and of asserting claims
under this Indenture, or under any of the Securities, may be enforced by the Trustee without the possession of any of the Securities, or the production thereof on any trial or other proceedings relative thereto, and any such action or proceedings
instituted by the Trustee shall be brought in its own name and as trustee of an express trust, and any recovery of judgment shall be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 

  
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 In case of an Event of Default hereunder the Trustee may in its discretion proceed to
protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether
for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by
law. 
 Section 6.03    Application of Moneys Collected by Trustee. Any moneys
collected by the Trustee pursuant to Section 6.02 shall be applied in the order following, at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal, premium, if any, or interest, if any,
upon presentation of the several Securities in respect of which moneys have been collected, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid: 

FIRST: To the payment of reasonable costs and expenses applicable to such Securities of collection, reasonable compensation to the Trustee,
its agents, attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all advances made, by the Trustee except as a result of its negligence or willful misconduct; 

SECOND: In case the principal of the Securities in respect of which moneys have been collected shall not have become due, to the payment of
interest, if any, on such Securities in the order of the maturity of the installments of such interest, with interest (to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest at the same rate as
the rate of interest, if any, specified in such Securities (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption, repurchase
or repayment or acceleration), such payments to be made ratably to the persons entitled thereto, without discrimination or preference; 

THIRD: In case the principal of the Securities in respect of which moneys have been collected shall have become due, by declaration or
otherwise, to the payment of the whole amount then owing and unpaid upon such Securities for principal, premium, if any, and interest, if any, and (to the extent that such interest has been collected by the Trustee) interest upon overdue
installments of interest, if any, at the same rate as the rate of interest specified in such Securities (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal
thereof upon maturity, redemption, repurchase or repayment or acceleration); and, in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon such Securities, then to the payment of such principal, premium, if
any, and interest, if any, without preference or priority of principal and premium, if any, over interest, if any, or of interest, if any, over principal and premium, if any, or of any such Security over any other such Security, ratably to the
aggregate of such principal and premium, if any, and accrued and unpaid interest, if any; and 
 FOURTH: Any remainder to the Company or as
a court of competent jurisdiction may direct. 
 Section 6.04    Proceedings by
Securityholders. No Holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceedings at law or in equity or in bankruptcy or otherwise, upon or under or
with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof,
as hereinbefore provided, and unless also the Holders of not less than twenty-five percent (25%) in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such
action or proceedings in its own name as trustee hereunder and shall have offered to the Trustee such indemnity reasonably satisfactory as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee
for sixty 

  
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(60) days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such action or proceedings and no direction inconsistent with such written request
shall have been given to the Trustee pursuant to Section 6.06; it being understood and intended, and being expressly covenanted by the taker and Holder of every Security with every other taker and Holder and the Trustee, that no one or more
Holders of Securities shall have any right in any manner whatever by virtue of or by availing himself of any provision of this Indenture to affect, disturb or prejudice the rights of any other Holder of Securities, or to obtain or seek to obtain
priority over or preference to any other such Holder or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders of Securities. For the protection and enforcement of
the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

Notwithstanding any other provisions in this Indenture, however, the right of any Holder of any Security to receive payment of the principal
of and premium, if any, and interest, if any, on such Security, on or after the respective due dates expressed in such Security, or to institute suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or
affected without the consent of such Holder. With respect to Original Issue Discount Securities, principal shall mean such amount as shall be due and payable as specified in or established pursuant to the terms of such Securities. 

Section 6.05    Remedies Cumulative and Continuing. All powers and remedies given by this
Article Six to the Trustee or to the Holders of Securities shall, to the extent permitted by law, be deemed cumulative and not exclusive, of any thereof or of any other powers and remedies available to the Trustee or the Holders of Securities,
by judicial proceedings or otherwise, to enforce the performance or observance of the covenants and agreements contained in this Indenture, and no delay or omission of the Trustee or of any Holder of any of the Securities to exercise any right or
power accruing upon any Event of Default with respect to such Securities occurring and continuing as aforesaid shall impair any such right or power or shall be construed to be a waiver of any such default or an acquiescence therein; and, subject to
the provisions of Section 6.04, every power and remedy given by this Article Six or by law to the Trustee or to the Holders of Securities may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by
the Holders of Securities, as the case may be. 
 Section 6.06    Direction of
Proceedings. The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time, method, and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the Securities of such series; provided, however, that (subject to the provisions of Section 7.01) the Trustee shall have the right to decline to follow any such direction
(i) that is in conflict with this Indenture or the Securities of such series, (ii) if the Trustee, being advised by counsel, determines that the action or proceedings so directed may not lawfully be taken or (iii) if the Trustee in
good faith by its board of directors or executive committee or a trust committee of directors or trustees and/or Responsible Officers shall determine that the action or proceedings so directed would involve the Trustee in personal liability. 

Section 6.07    Notice of Defaults. The Trustee shall, within ninety (90) days after
the occurrence of a default with respect to the Securities of any series, give notice of all defaults with respect to that series known to the Trustee to all Holders of then Outstanding Securities of that series, by sending such notice to such
Holders at their addresses as they shall appear on the Security Register, unless in each case such defaults shall have been cured before the sending or publication of such notice (the term “defaults” for the purpose of this
Section being hereby defined to be the events specified in Sections 6.01(a), (b), (c), (d), (e), (f) and (g) and any additional events specified in the terms of any series of Securities pursuant to Section 2.01, not including
periods of grace, if any, provided for therein, and irrespective of the giving of written notice specified in Section 6.01(d) or in the terms of any Securities established pursuant to Section 2.01); and provided that, except in the case of
default in the payment of the principal of and premium, if any, and interest, if any, on any of the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive
committee, or a trust committee of directors or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Securities of such series. 

  
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 Section 6.08    Undertaking to Pay
Costs. All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this
Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this
Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder of any series, or group of such Securityholders, holding in the aggregate more than ten percent (10%) in aggregate principal amount of
any Securities of any series, or to any suit instituted by any Securityholders for the enforcement of the payment of the principal of and premium, if any, and interest, if any, on any Security on or after the due date expressed in such Security or
for the enforcement of the right, if any, to convert or exchange any Security into Shares or other securities in accordance with its terms. 

Section 6.09    Waiver of Past Defaults. The Holders of not less than a majority in
aggregate principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default 

(1)    in the payment of the principal of and premium, if any, and interest, if any, on any Security of
such series; 
 (2)    in the case of any Securities which are convertible into or exchangeable for
Shares or other securities or property, a default in any such conversion or exchange; or 
 (3)    in
respect of a covenant or provision hereof which under Article Ten cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 

Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of this Indenture and the Securities of such series; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

ARTICLE SEVEN 

CONCERNING THE TRUSTEE 

Section 7.01    Duties and Responsibilities of Trustee. The Trustee, except during the
continuance of an Event of Default of a particular series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to a particular series has occurred (which
has not been cured or waived), the Trustee shall exercise with respect to Securities of that series such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs. 
 No provision of this Indenture shall be construed to relieve
the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 

(a)    prior to the occurrence of an Event of Default with respect to a particular series and after the curing or waiving
of all Events of Default with respect to such series which may have occurred: 
 (1)    the duties and
obligations of the Trustees with respect to such series shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set
forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

  
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 (2)    in the absence of bad faith on the part of the
Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but
in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein); 

(b)    the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or officers,
unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (c)    the Trustee
shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of Securities pursuant to Section 6.06 relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture. 

Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee shall be subject to the provisions of this Section. 
 No provision of this Indenture shall be construed
as requiring the Trustee to expend or risk its own funds or otherwise to incur any personal financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if there shall be reasonable
grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

Section 7.02    Reliance on Documents, Opinions, etc. Subject to the provisions of
Section 7.01: 
 (a)    the Trustee may conclusively rely and shall be fully protected in acting or refraining from
acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon or other paper or document believed by it to be genuine and to have been signed or presented by the
proper party or parties; 
 (b)    any request, direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by an instrument signed in the name of the Company by the Chairman or any Vice Chairman of the Board of Directors of the Company or by the President or any Executive Vice President or any Vice President or the Treasurer of the
Company and by the Secretary or any Assistant Secretary or, if the other signatory is other than the Treasurer, any Assistant Treasurer of the Company (unless other evidence in respect thereof be herein specifically prescribed), or by any director
of the Company; any Board Resolution of the Company may be evidenced to the Trustee by a copy thereof certified by the Secretary or any Assistant Secretary of the Company; any request, direction, order or demand of any Guarantor mentioned herein
shall be sufficiently evidenced by an instrument signed in the name of such Guarantor by the Chairman or any Vice Chairman of the Board of Directors of such Guarantor or by the President or any Executive Vice President or any Vice President or the
Treasurer of such Guarantor and by the Secretary or any Assistant Secretary or, if the other signatory is other than the Treasurer, any Assistant Treasurer of such Guarantor (unless other evidence in respect thereof be herein specifically
prescribed); and any Board Resolution of any Guarantor may be evidenced to the Trustee by a copy thereof certified by the Secretary or any Assistant Secretary of such Guarantor; 

(c)    the Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection in respect of any action taken or suffered by it hereunder in good faith and in accordance with such Opinion of Counsel; 

  
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 (d)    the Trustee shall be under no obligation to exercise any of the
rights or powers vested in it by this Indenture at the request, order or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity
reasonably satisfactory to it against the costs, expenses, and liabilities which might be incurred therein or thereby; 

(e)    the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company or any Guarantor personally or by agent or
attorney; 
 (f)    the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed by it with due care hereunder; 

(g)    the Trustee shall not be liable for any action taken by it in good faith and believed by it to be authorized or
within the discretion or rights or powers conferred upon it by this Indenture; 
 (h)    in no event shall the Trustee
be responsible or liable for any special, punitive, indirect or consequential (including but not limited to loss of profit) loss or damage, irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless
of the form of action; 
 (i)    the Trustee shall not be deemed to have knowledge of any default or Event of Default
unless a Responsible Officer of the Trustee has received actual written notice thereof at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; 

(j)    the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation,
its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder; and 

(k)    the Trustee may request that the Company or any Guarantor deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. 

Section 7.03    No Responsibility for Recitals, etc. The recitals contained herein and in
the Securities, other than the Trustee’s certificate of authentication, shall be taken as the statements of the Company and the Guarantors, as applicable, and the Trustee assumes no responsibility for the correctness of the same. The Trustee
makes no representations as to the validity or sufficiency of this Indenture or of the Securities, provided that the Trustee shall not be relieved of its duty to authenticate Securities only as authorized by this Indenture. The Trustee shall not be
accountable for the use or application by the Company of Securities or the proceeds thereof. 

Section 7.04    Ownership of Securities. The Trustee or any agent of the Company, any
Guarantor or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, or an agent of the Company, a Guarantor or the Trustee. 

Section 7.05    Moneys to Be Held in Trust. Subject to the provisions of
Section 12.04, all moneys received by the Trustee or any paying agent shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the
extent required by law. Neither the Trustee nor any paying agent shall be under any liability for interest on any moneys received by it hereunder except such as it may agree in writing with the Company to pay thereon. So long as no Event of Default
shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from time to time upon the written order of the Company, signed by the Chairman or any Vice Chairman of the Board of Directors of the Company or by the
President or any Executive Vice President or any Vice President or the Treasurer or any Assistant Treasurer of the Company. 

  
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 Section 7.06    Compensation,
Indemnification and Expenses of Trustee. The Company covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, reasonable compensation and, except as otherwise expressly provided, the Company will pay or
reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation, expenses and
disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as shall have been caused by its own negligence or willful misconduct. The Company and, with respect to any series of
Securities to which the provisions of Article Fifteen shall apply, each Guarantor, jointly and severally also covenant to indemnify the Trustee for, and to hold it harmless against, any loss, claim, damage, liability or expense incurred without
negligence or willful misconduct on the part of the Trustee, arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any claim of liability in the premises.
The obligations of the Company under this Section to compensate the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness
shall be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities. 

When the Trustee incurs expenses or renders services in connection with an Event of Default, the expenses (including the reasonable charges
and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 

The provisions of this Section shall survive the termination of this Indenture, the resignation or removal of the Trustee and the payment
of the Securities. 
 Section 7.07    Officers’ Certificate as
Evidence. Subject to the provisions of Section 7.01, whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any
action to be taken hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by
an Officers’ Certificate of the Company or of a Guarantor, as applicable, delivered to the Trustee, and such Officers’ Certificate, in the absence of negligence or willful misconduct on the part of the Trustee, shall be full warrant to the
Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 

Section 7.08    Conflicting Interest of Trustee. 

(a)    If the Trustee has or shall acquire any conflicting interest, as defined in the Trust Indenture Act, it shall,
within ninety (90) days after ascertaining that it has such conflicting interest, either eliminate such conflicting interest or resign in the manner and with the effect specified in the Trust Indenture Act. 

(b)    In the event that the Trustee shall fail to comply with the provisions of subsection (a) of this Section, the
Trustee shall, within ten (10) days after the expiration of such ninety-day period, transmit notice of such failure to all Securityholders of the series affected by the conflicting interest as the names
and addresses of such Holders appear on the Security Register. 

Section 7.09    Eligibility of Trustee. There shall at all times be a trustee hereunder
which shall be a corporation organized and doing business under the laws of the United States or of any State or Territory thereof or of the District of Columbia, which (a) is authorized under such laws to exercise corporate trust powers, and
(b) is subject to supervision or examination by Federal, State, Territorial or District of Columbia authority and (c) shall have at all times a combined capital and surplus of not less than fifty million dollars. If such corporation

  
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publishes reports of condition at least annually, pursuant to law, or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined
capital and surplus of such corporation at any time shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance
with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 7.10. 

Section 7.10    Resignation or Removal of Trustee. 

(a)    The Trustee, or any trustee or trustees hereafter appointed, may, upon thirty (30) days’ written notice to
the Company, at any time resign with respect to one or more or all series by giving written notice of resignation to the Company, and by sending notice of such resignation to the Holders of then outstanding Securities of each series affected at
their addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to the applicable series by written instrument, in duplicate, executed by
order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within
thirty (30) days after the sending of such notice of resignation to the Securityholders, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the appointment of a successor trustee, or any
Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, subject to the provisions of Section 6.08, on behalf of himself and all others similarly situated, petition any
such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b)    In case at any time any of the following shall occur: 

(1)    the Trustee shall fail to comply with the provisions of subsection (a) of Section 7.08
with respect to any series of Securities after written request therefor by the Company or by any Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months, or 

(2)    the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 with
respect to any series of Securities and shall fail to resign after written request therefor by the Company or by any such Securityholder, or 

(3)    the Trustee shall become incapable of acting with respect to any series of Securities, or shall be
adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property
or affairs for the purpose of rehabilitation, conservation or liquidation; 
 then, in any such case, the Company may remove the Trustee with respect to the
applicable series of Securities and appoint a successor trustee with respect to such series by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the
Trustee so removed and one copy to the successor trustee, or, subject to the provisions of Section 6.08, any Securityholder of such series who has been a bona fide Holder of a Security or Securities of the applicable series for at least six
months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such series. Such court may thereupon, after
such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(c)    The Holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may
at any time remove the Trustee with respect to Securities of such series by so notifying the Trustee and the Company in writing with thirty (30) days’ prior notice and appoint a successor trustee with respect to the Securities of such series
with the consent of the Company. 

  
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 (d)    Any resignation or removal of the Trustee and any appointment of
a successor trustee pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 7.11. 

(e)    Any successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of
one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 

Section 7.11    Acceptance by Successor Trustee. Any successor trustee appointed as
provided in Section 7.10 shall execute, acknowledge and deliver to the Company, each Guarantor and its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee
with respect to all or any applicable series shall become effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations with respect to such series of its
predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the written request of the Company, any Guarantor or the successor trustee, the trustee ceasing to act shall, upon payment of any amounts then
due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring to such successor trustee all the rights and powers of the trustee so ceasing to act and shall assign, transfer and deliver to such successor or
trustee all property and money held by such trustee so ceasing to act. Upon request of any such successor trustee, the Company and each Guarantor shall execute any and all instruments in writing in order more fully and certainly to vest in and
confirm to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected by such trustee to secure any amounts then due it pursuant to the provisions of
Section 7.06. 
 In case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not
all) series, the Company, each Guarantor (if any of such series of Securities are entitled to the benefits of Article Fifteen) and the predecessor trustee and each successor trustee with respect to the Securities of any applicable series shall
execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor trustee with respect to the Securities of
any series as to which the predecessor trustee is not retiring shall continue to be vested in the predecessor trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that
each such trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such trustee. 

No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee
shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09. 
 Upon acceptance of
appointment by a successor trustee as provided in this Section, the Company shall give notice of the succession of such trustee hereunder to the Holders of Securities of each series affected, by sending such notice to such Holders at their addresses
as they shall appear on the Security Register. If the Company fails to send such notice in the prescribed manner within ten (10) days after the acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to
be so given at the expense of the Company. 
 Section 7.12    Successor by Merger, etc.
Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to
the corporate trust business 

  
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of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of
Section 7.09, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have been authenticated, but not delivered, by
the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities. 
 Section 7.13    Limitations on Rights of Trustee as
Creditor. If and when the Trustee shall be or become a creditor of the Company (or any other obligor with respect to the Securities, which may include the Guarantors), the Trustee shall be subject to the provisions of the Trust Indenture Act
regarding the collection of claims against the Company (or any such other obligor). 
 ARTICLE EIGHT 

CONCERNING THE SECURITYHOLDERS 

Section 8.01    Action by Securityholders. Whenever in this Indenture it is provided that
the Holders of a specified aggregate principal amount of the Outstanding Securities of any series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the
fact that at the time of taking any such action the Holders of such specified amount have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Securityholders in person or by agent or
proxy appointed in writing, and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company, or
(b) by the record of the Holders of Securities voting in favor thereof at any meeting of Securityholders duly called and held in accordance with the provisions of Article Nine, or (c) by a combination of such instrument or instruments
and any such record of such a meeting of Securityholders. 
 In determining whether the Holders of a specified aggregate principal amount of
the Outstanding Securities have taken any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the principal amount of any Original Issue Discount Security that may be
counted in making such determination and that shall be deemed to be Outstanding for such purposes shall be equal to the amount of the principal thereof that could be declared to be due and payable upon an Event of Default pursuant to the terms of
such Original Issue Discount Security at the time the taking of such action is evidenced to the Trustee. 

Section 8.02    Proof of Ownership. Subject to the provisions of Sections 7.01, 7.02
and 9.05, the ownership of Securities shall be proved by the Security Register or by a certificate of the Security Registrar. 

Section 8.03    Who Are Deemed Absolute Owners. The Company, the Guarantors (if
applicable), the Trustee, any paying agent, any transfer agent and any Security Registrar shall, subject to Section 2.04, treat the person in whose name a Security shall be registered upon the Security Register as the absolute owner of such
Security (whether or not such Security shall be overdue) for the purpose of receiving payment thereof or on account thereof and for all other purposes and neither the Company, the Guarantors (if applicable), the Trustee, any paying agent, any
transfer agent nor any Security Registrar shall be affected by any notice to the contrary. 
 If the Company or, if applicable, any
Guarantor shall solicit from the Holders of all or any series of Securities any request, demand, authorization, direction, notice, consent, waiver or other act, the Company or, if applicable, such Guarantor may at its option (but is not obligated
to), by or pursuant to a Board Resolution of the Company or such Guarantor, as the case may be, fix in advance a record date for the determination of Holders of Securities entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other act. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other act 

  
 39 

 
may be given before or after such record date, but only the Holders of Securities of record at the close of business on such record date shall be deemed to be Holders for the purpose of
determining whether Holders of the requisite proportion of the applicable Outstanding Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other act, and for that purpose the
applicable Outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders of all or any series of Securities shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than six months after the applicable record date. 

Section 8.04    Company-Owned Securities Disregarded. In determining whether the Holders
of the required aggregate principal amount of all or any series of Securities have given any request, demand, authorization, direction, notice, consent or waiver under this Indenture, Securities which are owned by the Company or by any person
directly or indirectly controlling or controlled by or under direct or indirect control with the Company, shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of determining
whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver only Securities which the Trustee knows are so owned shall be disregarded. Securities so owned which have been pledged
in good faith may be regarded as Outstanding for the purposes of this Section if the pledgee shall establish to the satisfaction of the Trustee the pledgor’s right to vote such Securities and that the pledgee is not a person directly or
indirectly controlling or controlled by or under direct or indirect common control with the Company. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to the Trustee.

 Section 8.05    Revocation of Consents; Future Securityholders Bound. At any time
prior to the taking of any action by the Holders of the aggregate principal amount of all or any series of the Outstanding Securities specified in this Indenture in connection with such action, any Holder of a Security the identifying number of
which is shown by the evidence to be included in the Securities the Holders of which have consented to such action may, by filing written notice with the Trustee at its office and upon proof of holding as provided in Section 8.02, revoke such
action so far as concerns such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future Holders and owners of such Security and of any Security issued in
exchange or substitution therefor irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the Holders of the aggregate principal amount of the Securities specified in this Indenture in connection
with such action shall be conclusively binding upon the Company, each Guarantor (if applicable), the Trustee and the Holders of all the Securities of each series intended to be affected thereby. 

ARTICLE NINE 

SECURITYHOLDERS’ MEETINGS 

Section 9.01    Purposes of Meetings. A meeting of Securityholders of any series may be
called at any time and from time to time pursuant to the provisions of this Article Nine for any of the following purposes: 

(1)    to give any notice to the Company, a Guarantor (if applicable) or the Trustee, or to give any
directions to the Trustee, or to waive any default hereunder and its consequences, or to take any other action authorized to be taken by Securityholders pursuant to any of the provisions of Article Six; 

(2)    to remove the Trustee and appoint a successor trustee pursuant to the provisions of
Article Seven; 
 (3)    to consent to the execution of an indenture or indentures supplemental
hereto pursuant to the provisions of Section 10.02; or 

  
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 (4)    to take any other action authorized to be taken
by or on behalf of the Holders of any specified aggregate principal amount of the Securities of such series, as the case may be, under any other provision of this Indenture or under applicable law. 

Section 9.02    Call of Meetings by Trustee. The Trustee may at any time call a meeting
of Holders of Securities of any series to take any action specified in Section 9.01, to be held at such time and at such place in the Borough of Manhattan, The City of New York as the Trustee shall determine. Notice of every meeting of the
Holders of Securities of any or all series, setting forth the time and place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given to all Holders of then Outstanding Securities of such series, by
sending such notice to such Holders at their addresses as they shall appear on the Security Register, not less than twenty (20) nor more than one hundred eighty (180) days prior to the date fixed for the meeting. Failure of any Holder or
Holders to receive such notice or any defect therein shall in no case affect the validity of any action taken at such meeting. Any meeting of Holders of Securities of any series shall be valid without notice if the Holders of all Securities of such
series Outstanding, the Company and the Trustee are present in person or by proxy or shall have waived notice thereof before or after the meeting. 

Section 9.03    Call of Meetings by Company or Securityholders. In case at any time the
Company, pursuant to a Board Resolution of the Company, or the Holders of at least ten (10%) percent in aggregate principal amount of the Securities of any series, as the case may be, then Outstanding, shall have requested the Trustee to call a
meeting of Securityholders of Securities of such series to take any action authorized in Section 9.01, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have sent or
published, as provided in Section 9.02, the notice of such meeting within thirty (30) days after receipt of such request, then the Company or the Holders of Securities of such series in the amount above specified may determine the time and
the place in said Borough of Manhattan for such meeting and may call such meeting to take any action authorized in Section 9.01, by sending or publishing notice thereof as provided in Section 9.02. 

Section 9.04    Qualification for Voting. To be entitled to vote at any meeting of
Securityholders a person shall be a Holder of one or more Securities of the series with respect to which a meeting is being held or a person appointed by an instrument in writing as proxy by such a Holder. The only persons who shall be entitled to
be present or to speak at any meeting of the Securityholders shall be the persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

Section 9.05    Regulations. Notwithstanding any other provisions of this Indenture, the
Trustee may make such reasonable regulations as it may deem advisable for any meeting of Securityholders, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to the appointment and duties of inspectors of
votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. 

The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the
Company or by Securityholders as provided in Section 9.03, in which case the Company or the Securityholders calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent
secretary of the meeting shall be elected by vote of the Holders of a majority in principal amount of the Securities represented at the meeting and entitled to vote. 

Subject to the provisions of Sections 8.01 and 8.04, at any meeting of Securityholders of any series, each Securityholder or proxy shall
be entitled to one vote for each $1,000 principal amount at maturity of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not
Outstanding and ruled by the chairman of the meeting not to be Outstanding. The chairman of the meeting shall have no right to vote except as a Securityholder or proxy. Any meeting of Securityholders duly called pursuant to the provisions of
Section 9.02 or 9.03 may be adjourned from time to time, and the meeting may be held as so adjourned without further notice. 

  
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 Section 9.06    Voting. The vote upon
any resolution submitted to any meeting of Securityholders shall be by written ballot on which shall be subscribed the signatures of the Securityholders or proxies and on which shall be inscribed the identifying number or numbers or to which shall
be attached a list of identifying numbers of the Securities held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Securityholders shall be prepared by the secretary of the meeting
and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was sent as provided in Section 9.02. The record shall be signed and verified by the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the
Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 
 Any record so signed and
verified shall be conclusive evidence of the matters therein stated. 
 ARTICLE TEN 

SUPPLEMENTAL INDENTURES 

Section 10.01    Supplemental Indentures without Consent of Securityholders. The Company,
when authorized by a Board Resolution of the Company, each Guarantor, when authorized by a Board Resolution of such Guarantor (if applicable), and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental
hereto (which shall conform to the provisions of the Trust Indenture Act of 1939 as in force at the date of the execution thereof) for one or more of the following purposes: 

(a)    to evidence the succession of another Person to the Company or a Guarantor, or successive successions, and the
assumption by any successor Person of the covenants, agreements and obligations of the Company or such Guarantor pursuant to Article Eleven hereof; 

(b)    to add to the covenants of the Company or a Guarantor for the benefit of the Holders of all or any series of
Securities, to add any additional Events of Default with respect to all or any series of Securities, or to surrender any right or power conferred upon the Company or a Guarantor; 

(c)    to add or change any of the provisions of this Indenture to such extent as shall be necessary to permit or
facilitate the issuance of Global Securities and to make all appropriate changes for such purpose, and to add or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of
uncertificated Securities of any series; 
 (d)    to cure any ambiguity or to correct or supplement any provision
contained herein or in any supplemental indenture or in the terms of any series of Securities which may be defective or inconsistent with any other provision contained herein or in any supplemental indenture or in the terms of any series of
Securities; to convey, transfer, assign, mortgage or pledge any property to or with the Trustee; or to make such other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture or in the terms of
any series of Securities as shall not adversely affect the interests of the Holders of any series of Securities in any material respect; 

(e)    to conform the terms of the Indenture or the Securities of a series or the Guarantee to the description thereof
contained in any prospectus or other offering document or memorandum relating to the offer and sale of such Securities; 

  
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 (f)    to evidence and provide for the acceptance and appointment
hereunder by a successor trustee with respect to the Securities of one or more series, and to add or change any provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than
one trustee, pursuant to Section 7.11; and 
 (g)    to establish the form or terms of Securities of any series as
permitted by Sections 2.01 and 2.03. 
 The Trustee is hereby authorized to join with the Company and, if applicable, each of the
Guarantors in the execution of any such supplemental indenture, to make any further appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property
thereunder, but the Trustee shall not be obligated to enter into any such supplemental indenture which adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Any supplemental indenture authorized by the provisions of this Section may be executed by the Company, each Guarantor (if applicable)
and the Trustee without the consent of the Holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 10.02. 

Section 10.02    Supplemental Indentures with Consent of Securityholders. With the
consent (evidenced as provided in Section 8.01) of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of each series affected by such supplemental indenture, the Company, when authorized by a
Board Resolution of the Company, each Guarantor (if applicable), when authorized by a Board Resolution of such Guarantor, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for the purpose
of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or modifying in any manner the rights of the Holders of the Securities of each such series; provided,
however, that, without the consent of the Holder of each Outstanding Security affected thereby, no such supplemental indenture shall: 

(a)    extend the stated maturity of any Securities, or reduce the principal amount thereof or premium, if any, or reduce
the rate or change the due date of any installment of principal or interest on, or payments of Additional Amounts, or reduce the amount due and payable upon acceleration of the maturity thereof or the amount provable in bankruptcy, or make the
principal of or interest or premium, if any, on any Security payable in any coin or currency other than that provided in such Security; 

(b)    impair the right to institute suit for the enforcement of any such payment on or after the stated maturity thereof
(or, in the case of redemption, on or after the redemption date therefor); 
 (c)    reduce the aforesaid percentage in
principal amount of Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required pursuant to Section 6.01 to waive defaults; 

(d)    make any change that adversely affects the right, if any, to convert or exchange any Security for Shares or other
securities or property in accordance with its terms; or 
 (e)    modify any of the provisions of this Section or
Section 6.09, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided however,
that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section, or the deletion of this proviso, in accordance with the
requirements of Sections 7.11 and 10.01(e). 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture
which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not
to affect the rights under this Indenture of the Holders of Securities of any other series. 

  
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 Upon the request of the Company and each Guarantor, if applicable, accompanied by a copy of
a Board Resolution of the Company and, if applicable, a Board Resolution of each Guarantor authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders as aforesaid,
the Trustee shall join with the Company and, if applicable, each Guarantor in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or
otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 
 It
shall not be necessary for the consent of the Securityholders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Promptly after the execution and delivery by the Company, the Guarantors, if applicable, and the Trustee of any supplemental indenture
pursuant to the provisions of this Section, the Trustee shall give notice of such supplemental indenture to the Holders of then Outstanding Securities of each series affected thereby, by sending a notice thereof to such Holders at their addresses as
they shall appear on the Security Register. Any failure of the Company or, if applicable, the Guarantors to send or publish such notice, or any defect therein, shall not, however in any way impair or affect the validity of any such supplemental
indenture. 
 Section 10.03    Compliance with Trust Indenture Act; Effect of Supplemental
Indentures. Any supplemental indenture executed pursuant to the provisions of this Article Ten shall comply with the Trust Indenture Act of 1939, as amended and then in effect. Upon the execution of any supplemental indenture pursuant to
the provisions of this Article Ten, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the
Trustee, the Company, the Guarantors (if applicable) and the Holders of Securities shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any
such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
 The
Trustee, subject to the provisions of Sections 7.01 and 7.02, shall be given an Opinion of Counsel, an Officers’ Certificate of the Company, and Officers’ Certificates of the Guarantors stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture as conclusive evidence that any such supplemental indenture complies with the provisions of this Article Ten. 

Section 10.04    Notation on Securities. Securities of any series authenticated and
delivered after the execution of any supplemental indenture pursuant to the provision of this Article Ten may bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. New Securities of any
series so modified as to conform, in the opinion of the Trustee and the Board of Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the
Trustee and delivered, without charge to the Securityholders, in exchange for the Securities of such series then Outstanding. 

  
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 ARTICLE ELEVEN 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

Section 11.01    Company and Guarantors May Consolidate, etc., Only on Certain Terms. So
long as any Securities shall be Outstanding, neither the Company nor, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, any Guarantor shall consolidate with or merge or convert into any other
Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person unless: 

(a)    (1) The Company or such Guarantor, as the case may be, is the surviving entity, or (2) the Person formed by
such consolidation or conversion or into which the Company or such Guarantor, as applicable, is merged or converted or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company or such Guarantor,
as the case may be, substantially as an entirety: 
 (i)    expressly assumes, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, in the case of the Company, the due and punctual payment of the principal of and premium, if any, and interest, if any, on all the Securities and the
performance of every covenant of this Indenture on the part of the Company to be performed or observed or, in the case of such Guarantor, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the due
and punctual payment of all payment obligations under the Guarantee and the performance of every other covenant of this Indenture on the part of such Guarantor to be performed or observed and which supplemental indenture shall provide for conversion
or exchange rights in accordance with the provisions of the Securities of any series that are convertible or exchangeable into Shares or other securities, if any such Securities are then outstanding; and 

(ii)    in the case of Aon Delaware, is a corporation or other entity organized and existing under the laws
of the United States, any State thereof or the District of Columbia. 
 (b)    immediately after giving effect to such
transaction and treating any indebtedness which becomes an obligation of the Company or such Guarantor, as applicable, as a result of such transaction as having been incurred by the Company or such Guarantor, as applicable, at the time of such
transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and 

(c)    the Company has delivered to the Trustee an Officers’ Certificate of the Company or such Guarantor has
delivered to the Trustee an Officers’ Certificate of such Guarantor, as the case may be, and, in either case, an Opinion of Counsel, each stating that such consolidation, merger, conversion, conveyance, transfer or lease and, if a supplemental
indenture is required in connection with such transaction, such supplemental indenture comply with this Article Eleven and that all conditions precedent herein provided for relating to such transaction have been complied with. 

Section 11.02    Successor Person Substituted. So long as any Securities shall be
outstanding, upon any consolidation, merger or conversion, or any conveyance, transfer or lease of the properties and assets of the Company or any Guarantor substantially as an entirety, in accordance with Section 11.01, the successor Person
formed by such consolidation or into which the Company or such Guarantor, as applicable, is merged or converted or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power
of, the Company or such Guarantor, as the case may be, under this Indenture with the same effect as if such successor Person had been named as the Company or a Guarantor, as the case may be, herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE TWELVE 

SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS 

Section 12.01    Discharge of Indenture. This Indenture shall, upon the receipt of a
Company Order by the Trustee, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of Securities herein expressly provided for) with respect to any series of Securities specified in such Company
Order, and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when 

  
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 (a)    either: 

(i)    all Securities of such series theretofore authenticated and delivered (other than
(A) Securities of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.07 and (B) Securities of such series for whose payment money has theretofore been deposited in trust
or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 12.04) have been delivered to the Trustee for cancellation; or 

(ii)    all such Securities of such series not theretofore delivered to the Trustee for cancellation: 

(A)    have become due and payable; or 

(B)    will become due and payable at their stated maturity within one year; or 

(C)    are to be called for redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company; 
 and the Company or,
with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors in the case of (A), (B) or (C) above, has or have deposited or caused to be deposited with the Trustee as trust funds in trust
for the purpose an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, including the principal, premium, if any, interest, if any, and Additional Amounts known,
at the time of such deposit, to be payable (if any) with respect to such Securities, to the date of such deposit (in the case of Securities which have become due and payable) or to the stated maturity or date of redemption, as the case may be; 

(b)    the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall
apply, the Guarantors has or have paid or caused to be paid all other sums payable hereunder by the Company with respect to the Outstanding Securities of such series; and 

(c)    the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall
apply, the Guarantors has or have delivered to the Trustee an Officers’ Certificate of the Company or of such Guarantors, as the case may be, and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to
the satisfaction and discharge of this Indenture as to such series have been complied with. 
 Notwithstanding the satisfaction and
discharge of this Indenture with respect to any series of Securities, the following rights of the Holders and obligations of the Trustee, the Company and, with respect to any series of Securities to which the provisions of Article Fifteen shall
apply, the Guarantors shall survive such satisfaction and discharge: 
 (1)    All obligations under
Section 7.06; 
 (2)    If money shall have been deposited with the Trustee pursuant to subclause
(ii) of clause (a) of this Section or if money or obligations shall have been deposited with or received by the Trustee pursuant to Section 13.02, all obligations under Sections 2.05, 2.07, 4.02, 4.03, 6.03, 12.02 and 12.04;

 (3)    Any rights of Holders of the Securities of such series to require the Company or, with respect
to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors to repurchase or repay, and the obligations of the Company or, if applicable, the Guarantors to repurchase or repay, such Securities at the
option of the Holders; and 

  
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 (4)    Any rights of Holders of the Securities of such
series to convert or exchange, and the obligations of the Company to convert or exchange, such Securities into Shares, securities or other property. 

After any such deposit, the Trustee for such series shall acknowledge in writing the discharge of the Company’s and, with respect to any
series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors’ obligations under the Securities of such series and this Indenture with respect to the Securities of such series except for those surviving
obligations specified above. 
 Section 12.02    Deposited Moneys to Be
Held in Trust by Trustee. Subject to Section 12.04, all moneys deposited with the Trustee pursuant to this Indenture shall be held in trust and applied by it to the payment, either directly or through any paying agent (including the Company
acting as its own paying agent), to the Holders of the particular Securities for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal, premium, if any, and
interest, if any, and, to the extent provided in Section 12.01(a)(ii), Additional Amounts, if any. 
 Anything in this
Article Twelve to the contrary notwithstanding, the Trustee shall deliver or pay to the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors, as the case may be, from
time to time upon request of the Company or the Guarantors, as the case may be, any money held by it as provided in Section 12.01(a)(ii) which is in excess of the amount thereof which would then be required to be deposited for the purpose for
which such money was deposited. 
 Section 12.03    Paying Agent to Repay Moneys Held.
In connection with the satisfaction and discharge of this Indenture with respect to a series of Securities, all moneys then held by any paying agent under the provisions of this Indenture with respect to such series of Securities shall, upon demand
of the Company, be repaid to it or paid to the Trustee and thereupon such paying agent shall be released from all further liability with respect to such moneys. 

Section 12.04    Return of Unclaimed Moneys. Any moneys deposited with or paid to the
Trustee or any paying agent for the payment of the principal of and premium, if any, interest, if any, and, to the extent provided in Section 12.01(a)(ii), Additional Amounts, if any, on any Security and not applied but remaining unclaimed for
three years after the date upon which such principal, premium, if any, interest, if any, and Additional Amounts, if any, shall have become due and payable, shall be repaid to the Company or the Guarantors, as applicable, by the Trustee or such
paying agent on demand, and the Holder of such Security shall thereafter look only to the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors for any payment as unsecured
general creditors unless an abandoned property law designates another Person and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease. 

ARTICLE THIRTEEN 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 13.01    Applicability of Article; Company’s Option to Effect
Defeasance or Covenant Defeasance. Unless pursuant to Section 2.01 provision is made for the inapplicability of either or both of (a) defeasance of the Securities of a series under Section 13.02 or (b) covenant defeasance of
the Securities of a series under Section 13.03, then the provisions of such Section or Sections, as the case may be, together with the other provisions of this Article Thirteen, shall be applicable to the Securities of such series,
and the Company may at its option by a Board Resolution of the Company, at any time, with respect to the Securities of such series, elect to have either Section 13.02 (unless inapplicable) or Section 13.03 (unless inapplicable) be applied
to the Outstanding Securities of such series upon compliance with the applicable conditions set forth below in this Article Thirteen. 

  
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 Section 13.02    Defeasance and
Discharge. Upon the Company’s exercise of the option provided in Section 13.01 to defease the Outstanding Securities of a particular series, the Company and, with respect to any series of Securities to which the provisions of
Article Fifteen shall apply, the Guarantors shall be discharged from their obligations with respect to the Outstanding Securities of such series on the date the applicable conditions set forth in Section 13.04 are satisfied (hereinafter,
“defeasance”). Defeasance shall mean that the Company shall be deemed to have paid and discharged the entire indebtedness represented by the Outstanding Securities of such series and, the Company and, with respect to
any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors shall be deemed to have satisfied all other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the
Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same); provided, however, that the following rights, obligations, powers, trusts, duties and immunities shall survive until otherwise terminated
or discharged hereunder: (a) the rights of Holders of Outstanding Securities of such series to receive, solely from the trust fund provided for in Section 13.04, payments in respect of the principal of and premium, if any, interest, if
any, and Additional Amounts known, at the time such defeasance is effected, to be payable, if any, on such Securities when such payments are due, (b) the Company’s obligations with respect to such Securities under Sections 2.05, 2.06,
2.07, 4.02, 5.01, 7.06 and 12.04, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder; (d) any rights of Holders of the Securities of such series (unless otherwise provided pursuant to Section 2.01 with respect
to the Securities of such series) to convert or exchange, and the obligations of the Company to convert or exchange, such Securities into Shares or other securities or property and (e) this Article Thirteen. Subject to compliance with this
Article Thirteen, the Company may exercise its option with respect to defeasance under this Section 13.02 notwithstanding the prior exercise of its option with respect to covenant defeasance under Section 13.03 in regard to the
Securities of such series. 
 Section 13.03    Covenant Defeasance. Upon the
Company’s exercise of the option provided in Section 13.01 to obtain a covenant defeasance with respect to the Outstanding Securities of a particular series, the Company and, with respect to any series of Securities to which the provisions
of Article Fifteen shall apply, the Guarantors shall be released from their obligations under this Indenture (except any obligations under Sections 2.05, 2.06, 2.07, 4.01, 4.02, 4.04, 5.01, 6.02, 7.06, 7.10 and 12.04) with respect to the
Outstanding Securities of such series on and after the date the applicable conditions set forth in Section 13.04 are satisfied (hereinafter, “covenant defeasance”). Covenant defeasance shall mean that, with
respect to the Outstanding Securities of such series, the Company and, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors may omit to comply with and shall have no liability in
respect of any term, condition or limitation set forth in this Indenture (except any obligations under Sections 2.05, 2.06, 2.07, 4.01, 4.02, 4.04, 5.01, 6.02, 7.06, 7.10 and 12.04), whether directly or indirectly by reason of any reference
elsewhere herein in any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, and such omission to comply shall not constitute an Event of
Default under Section 6.01(d) with respect to Outstanding Securities of such series, and the remainder of this Indenture and of the Securities of such series shall be unaffected thereby. 

Section 13.04    Conditions to Defeasance or Covenant Defeasance. The following shall be
conditions to defeasance under Section 13.02 and covenant defeasance under Section 13.03 with respect to the Outstanding Securities of a particular series: 

(a)    The Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall
apply, the Guarantors shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 7.09 who shall agree to comply with the provisions of this Article Thirteen
applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, (i) money in an amount, or
(ii) Governmental Obligations which through the schedule payment of 

  
 48 

 
principal and interest in respect thereof in accordance with their terms will provide, not later than the due date of any payment or, if such defeasance or covenant defeasance is to be effected
in compliance with subsection (i) below, on the relevant redemption date, as the case may be, money in an amount, or (iii) a combination thereof, sufficient, in the opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, (A) the principal of (and premium, if any, on), each
installment of principal of and premium, if any, interest, if any, and all Additional Amounts known to be payable at the time of such defeasance or covenant defeasance, as the case may be, on the Outstanding Securities of such series on the stated
maturity of or earlier redemption date, as the case may be, with respect to such principal or installment of principal or interest and (B) any mandatory sinking fund payments or analogous payments applicable to the Outstanding Securities of
such series on the day on which such payments are due and payable in accordance with terms of this Indenture and of such Securities. For this purpose, “Government Obligations” means securities that are (I) direct obligations of
the government which issued the currency in which the Securities of such series are denominated for the payment of which its full faith and credit is pledged or (II) obligations of a Person controlled or supervised by and acting as an agency or
instrumentality of such government the payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also
include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such Government Obligation or a specific payment of principal of or interest on any such
Government Obligation held by such custodian for the account of the holder of such depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such
depository receipt from any amount received by the custodian in respect of such Government Obligation or the specific payment of principal of or interest on such Government Obligation evidenced by such depository receipt. 

(b)    No Event of Default or event which, with notice or lapse of time or both, would become an Event of Default with
respect to the Securities of such series shall have occurred and be continuing on the date of such deposit or, insofar as subsections 6.01(e) and (f) are concerned, at any time during the period ending on the 91st day after the date of
such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 

(c)    Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under,
this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound. 

(d)    Such defeasance or covenant defeasance shall not cause any Securities of such series then listed on any national
securities exchange registered under the Exchange Act, as amended, to be delisted. 
 (e)    In the case of an election
with respect to Section 13.02, the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors shall have delivered to the Trustee an Opinion of Counsel stating that
(i) the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors have received from, or there has been published by, the Internal Revenue Service a private letter ruling
pertaining to this transaction or a comparable form of transaction, or (ii) since the date of this Indenture there has been a change in the applicable Federal income tax law (including, but not limited to, a change in the Code, proposed,
temporary or final Treasury regulations, Revenue Rulings, Revenue Procedures, Internal Revenue Service Notices, Announcements, and other public announcements), in either case to the effect that, and based thereon such opinion shall confirm that, the
Holders of the Outstanding Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such defeasance had not occurred. 
 (f)    In the case of an election with
respect to Section 13.03, the Company or, with respect to any series of Securities to which the provisions of Article Fifteen shall apply, the Guarantors shall have delivered to 

  
 49 

 
the Trustee an Opinion of Counsel to the effect that the Holders of the Outstanding Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result
of such covenant defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred. 

(g)    Such defeasance or covenant defeasance shall be effected in compliance with any additional terms, conditions or
limitations which may be imposed on the Company in connection therewith pursuant to Section 3.01. 
 (h)    The
Company shall have delivered to the Trustee an Officers’ Certificate of the Company and an Opinion of Counsel, each stating that all conditions precedent provided for relating to either the defeasance under Section 13.02 or the covenant
defeasance under Section 13.03 (as the case may be) have been complied with. 
 (i)    If the moneys or Government
Obligations or combination thereof, as the case may be, deposited under clause (a) above are sufficient to pay the principal of and premium, if any, and interest, if any, on and, to the extent provided in such clause (a), Additional Amounts
with respect to, such Securities provided such Securities are redeemed on a particular redemption date, the Company shall have given the Trustee irrevocable instructions to redeem such Securities on such date and to provide notice of such redemption
to Holders as provided in or pursuant to this Indenture. 
 Section 13.05    Deposited
Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions. Subject to the provisions of Section 12.04, all money and Government Obligations (including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee — collectively for purposes of this Section 13.05, the “Trustee”) pursuant to Section 13.04 in respect of the Outstanding Securities of a particular series shall be held in trust and applied by the
Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any paying agent (including the Company acting as its own paying agent) as the Trustee may determine, to the Holders of such
Securities of all sums due and to become due thereon in respect of principal, premium, if any, interest and Additional Amounts, if any, but such money need not be segregated from other funds except to the extent required by law. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations
deposited pursuant to Section 13.04 or the principal and interest received in respect thereof, other than any such tax, fee or other charge which by law is for the account of the Holders of the Outstanding Securities of such series. 

Anything in this Article Thirteen to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
request of the Company, any money or Government Obligations held by it as provided in Section 13.04 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee, are in excess of the amount thereof which would then be required to be deposited for the purpose for which such money or Government Obligations were deposited. 

ARTICLE FOURTEEN 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

Section 14.01    Indenture and Securities Solely Corporate Obligations. No recourse under
or upon any obligations covenant or agreement contained in this Indenture, or in any covenant or agreement contained in this Indenture, or in any Security, or because of any indebtedness evidenced thereby, shall be had against any past, present or
future incorporator, stockholder, officer or director, as such, of the Company, the Guarantors or any successor Person to either of them, either directly or through the Company, the Guarantors or any successor Person, under any rule of law, statute
or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the Holders thereof and as part
of the consideration for the issue of the Securities. 

  
 50 

 ARTICLE FIFTEEN 

GUARANTEES 

Section 15.01    Guarantee. The provisions of this Article Fifteen shall be
applicable only to, and inure solely to the benefit of, the Securities of any series designated, pursuant to Section 2.01, as being entitled to the benefits of the Guarantees. For purposes of this Article Fifteen, the term
“Securities” means, the Securities to which the provisions of this Article Fifteen shall be applicable and the term “Holder” means the person in whose name such a Security is registered on the registration books kept for
that purpose in accordance with the terms hereof. 
 Each Guarantor hereby fully, unconditionally and irrevocably guarantees, jointly and
severally, to and for the benefit of (a) each Holder the due and prompt payment in full of all amounts which may at any time be or become from time to time due and payable by the Company under this Indenture or otherwise with respect to the
Securities registered in such Holder’s name, and (b) the Trustee and its successors and assigns the due and prompt payment in full of all amounts which may at any time be or become from time to time due and payable by the Company under
this Indenture to the Trustee (each, a “Guaranteed Obligation” and, collectively, “Guaranteed Obligations”), in the case of both clause (a) and clause (b), at their stated due dates or when otherwise due in accordance with
the terms thereof. Each Guarantor agrees that any interest on Guaranteed Obligations which accrues after the commencement of any such proceeding (or which would have accrued had such proceeding not been commenced) shall constitute Guaranteed
Obligations. 
 Each Guarantor hereby agrees that its guarantee set forth in this Section 15.01 (the “Guarantee”) is a
guarantee of the due and punctual payment (and not merely of collection) of Guaranteed Obligations, and shall be full, absolute and unconditional, irrespective of, and shall not be affected by, any invalidity, irregularity or enforceability of this
Indenture or any Security, any failure to enforce the provisions of this Indenture or any Security, any waiver, modification or consent granted to the Company with respect thereto, or any other circumstances which may otherwise constitute a legal or
equitable discharge of a surety or guarantor. Each Guarantor waives, to the fullest extent permitted by law, all notices of acceptance of its Guarantee or of the creation, renewal, extension, modification, acceleration, compromise or release of any
Security or any obligation under this Indenture, and no such creation, renewal, extension, modification, acceleration, compromise or release of any Security or any obligation under this Indenture shall impair or diminish such Guarantor’s
obligations under the Guarantee. 
 Each Guarantor waives, to the fullest extent permitted by law, any requirement that a Holder or the
Trustee, in the event of a default in the paying of any Guaranteed Obligation by the Company, first make demand upon or seek to enforce remedies against the Company or first realize upon the collateral, if any, available to such Holder or the
Trustee before demanding payment under or seeking to enforce the Guarantee of such Guarantor. 
 Each Guarantor hereby waives, to the
fullest extent permitted by law, in favor of the Holders and the Trustee, any and all of its rights, protections, privileges and defenses provided by applicable law to a guarantor and waives any right of
set-off which such Guarantor may have against any Holder or the Trustee with respect to any Guaranteed Obligations which are or may become payable by such Guarantor to such Holder or the Trustee, as the case
may be. 
 Each Guarantor hereby waives, to the fullest extent permitted by law, diligence, notice of acceptance, presentment, demand for
payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any right to require a proceeding first against the Company or any other person, protest, notice of dishonor or
non-payment to or on such Guarantor or the Company, notice of any other default, breach or nonperformance of any agreement, covenant or obligation of the Company under this Indenture or any Security, and all
notices and demands whatsoever with respect to this Indenture, Securities or any indebtedness evidenced thereby. 

  
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 Each Guarantee is a continuing guarantee and nothing save payment in full of each Guaranteed
Obligation shall discharge a Guarantor of its obligations under its Guarantee in respect of such Guaranteed Obligation. 
 The Guarantees
shall continue to be effective or to be reinstated, as the case may be, if at any time any Guaranteed Obligation, in whole or in part, is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy, liquidation or
reorganization of the Company or otherwise. 
 The obligations of each Guarantor under its Guarantee shall not be altered, limited or
affected by any proceeding, voluntary or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of the Company or by any defense which the Company may have by reason of the order, decree or
decision of any court or administrative body resulting from any such proceeding. No delay or omission by any Holder or the Trustee to exercise any right under the Guarantees shall impair any such right, nor shall it be construed to be a waiver
thereof. 
 Notwithstanding anything to the contrary in this Indenture, a Board Resolution of the Company, or one or more supplemental
indentures supplemental hereto, providing for the issuance of a series of Securities pursuant to Section 2.01 may provide that any one or more, or all, of the Guarantors guarantee such series of Securities as provided in this Article Fifteen.

 Section 15.02    Subrogation. Each Guarantor shall be subrogated to all rights of
each Holder and the Trustee against the Company in respect of any amounts paid to such Holder or the Trustee, as the case may be, by such Guarantor pursuant to the provisions of the Guarantee; provided, however, that no Guarantor shall be entitled
to enforce, or to receive any payments arising out of or based upon such right of subrogation with respect to Guaranteed Obligations relating to Securities of the same series and like tenor until all such Guaranteed Obligations that are due and
payable have been paid in full. 
 Section 15.03    Notation of Guarantee. To further
evidence the Guarantee set forth in this Article Fifteen, except as provided below, each Guarantor hereby agrees that a notation of such Guarantee in the form set forth in Annex A hereto shall be endorsed on each Security to which the Guarantee
applies and shall be executed on behalf of each Guarantor pursuant to Section 2.03. 
 Each Guarantor hereby agrees that its Guarantee
set forth in this Article Fifteen shall remain in full force and effect notwithstanding any failure to endorse on each Security to which it applies a notation of such Guarantee. 

The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall constitute due and valid delivery of any
Guarantee designated with respect to the Securities pursuant to Section 2.01 on behalf of the Guarantors with respect to such Guarantee. 

Section 15.04    Irish Guarantee Limitation. A Guarantee shall not apply to the extent it
would result in such Guarantee constituting unlawful financial assistance within the meaning of Section 82 of the Irish Companies Act or constitute a breach of Section 239 of the Irish Companies Act. 

ARTICLE SIXTEEN 

MISCELLANEOUS PROVISIONS 

Section 16.01    Benefits of Indenture Restricted to Parties and Securityholders.
Nothing in this Indenture or in the Securities, expressed or implied, shall give or be construed to give to any person, firm or corporation, other than the parties hereto and their successors and the Holders of the Securities, any legal or

  
 52 

 
equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and
their successors and of the Holders of the Securities. 
 Section 16.02    Provisions
Binding on Successors. All the covenants, stipulations, promises and agreements in this Indenture contained by or on behalf of the Company or the Guarantor shall bind their respective successors and assigns, whether so expressed or not.

 Section 16.03    Addresses for Notices, etc. Any notice or demand which by
any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders of Securities to or on the Company or a Guarantor may be given or served by being deposited postage prepaid first class mail in a post
office letter box addressed (until another address is filed by the Company with the Trustee), as follows: if to the Company, Aon Delaware, AGH or AGL: c/o Aon Corporation, 200 East Randolph Street, Chicago, Illinois 60601, Attention: Treasurer. Any
notice, direction, request or demand by the Company or the Guarantors, or any Securityholder to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at its Corporate Trust
Department, 2 N. LaSalle Street, 7th Floor, Chicago, Illinois 60602, or at any other address previously furnished in writing to the Company by the Trustee. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give such
instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Issuer elects to give the
Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its reasonable discretion elects to act upon such instructions, the Trustee’s understanding of
such instructions shall be deemed controlling, absent gross negligence or manifest error. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s prior reliance upon and compliance
with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Issuer agrees to assume all risks arising out of the use of any such electronic methods to submit instructions and
directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

Notwithstanding any other provision of this Indenture or any Security, where this Indenture or any Security provides for notice of any event
or any other communication (including any notice of redemption or repurchase) to a holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the
standing instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices at the Depositary. 

Section 16.04    Evidence of Compliance with Conditions Precedent. Upon any application
or demand by the Company or any Guarantor to the Trustee to take any action under any of the provisions of this Indenture, the Company or such Guarantor, as the case may be, shall furnish to the Trustee an Officers’ Certificate of the Company
or of such Guarantor, as the case may be, stating that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application
or demand, no additional certificate or opinion need be furnished. 
 Each certificate or opinion provided for in this Indenture and
delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (1) a statement that the person making such certificate or opinion has read such covenant or condition; (2) a
brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such person, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such person, such
condition or covenant has been complied with. 

  
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 In any case where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion
with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Company or any Guarantor may be based, insofar as it relates to legal matters, upon an Opinion
of Counsel, unless such officer knows, or in the exercise of reasonable care should know, that the opinion with respect to the matters upon which his certificate or opinion is based is erroneous. Any such Opinion of Counsel may be based, insofar as
it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company or any Guarantor, as the case may be, a governmental official or officers or any other Person or Persons, stating that the
information with respect to such factual matters is in the possession of the Company or such Guarantor, as the case may be, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate, opinion or
representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture or any Security, they may, but need not, be consolidated and form one instrument. 

Section 16.05    Legal Holidays. Unless otherwise provided in the terms of a Security, in
any case where the date of maturity of any interest, premium on or principal of the Securities or the date fixed for redemption, repurchase or repayment of any Securities shall not be a Business Day in a city where payment thereof is to be made,
then payment of any interest, premium on, or principal of such Securities need not be made on such date in such city but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date
fixed for redemption, repurchase or repayment, and no interest shall accrue for the period after such date. 

Section 16.06    Trust Indenture Act to Control. If and to the extent that any provision
of this Indenture limits, qualifies or conflicts with another provision included in this Indenture which is required to be included in this Indenture by any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such required provision
shall control. 
 Section 16.07    Execution in Counterparts. This Indenture may be
executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

Section 16.08    New York Contract. This Indenture and each Security shall be deemed to
be a contract made under the laws of the State of New York, and for all purposes shall be governed by and construed in accordance with the laws of said State. 

Section 16.09    Consent to Service. Each of the Company, AGH and AGL has designated and
appointed Corporation Service Company, 80 State Street, Albany, New York 12207-2543, as its authorized agent for service of process in any proceeding arising out of or relating to this Indenture or the Securities of any series brought in any federal
or state court sitting in the Borough of Manhattan in The City of New York. By the execution and delivery of this Indenture, each of the Company, AGH and AGL irrevocably submits to the nonexclusive jurisdiction of any such court in any such suit or
proceeding, and agrees that service of process upon said agent, together with written notice of said service to such party, shall be deemed in every respect effective service of process upon the Company, AGH and AGL, as the case may be, in any such
suit or proceeding; provided, that a Security may specify additional jurisdictions as to which the Company, AGH and/or AGL may consent to the nonexclusive jurisdiction of its courts with respect to such Security. Each of the Company, AGH and AGL
further agrees to take any and all action, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of said agent or a successor agent in full force and effect
so long as any of the Securities shall be Outstanding. 

  
 54 

 Section 16.10    Separability. In case
any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect
any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 

Section 16.11    Assignment. The Company will have the right at all times to assign any
of its rights or obligations under this Indenture to a direct or indirect wholly-owned subsidiary of the Company, provided that, in the event of any such assignment, the Company will remain liable for all such obligations. Subject to the foregoing,
the Indenture is binding upon and inures to the benefit of the parties thereto and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties hereto. 

Section 16.12    Waiver of Jury Trial. EACH OF THE COMPANY, THE GUARANTORS, THE HOLDERS
(BY THEIR ACCEPTANCE OF THE SECURITIES) AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY. 
 Section 16.13    Force Majeure.
In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes,
work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services;
it being understood that the Trustee shall use reasonable best efforts which are consistent with accepted practices in the banking industry to avoid and mitigate the effects of such occurrences and to resume performance as soon as practicable under
the circumstances. 
 Section 16.14    Judgment Currency. The Company and each
Guarantor severally agree, to the fullest extent that they may effectively do so under applicable law, that: 

(a)    if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the
principal of and premium, if any, and interest, if any, on the Securities of any series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be
the rate at which in accordance with normal banking procedures the Trustee could purchase in the Borough of Manhattan, The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered,
unless such day is not a Business Day in the Borough of Manhattan, The City of New York, then, to the extent permitted by applicable law, the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee
could purchase in the Borough of Manhattan, The City of New York the Required Currency with the Judgment Currency on the Business Day in the Borough of Manhattan, The City of New York preceding the day on which a final unappealable judgment is
entered; and 
 (b)    their obligations under this Indenture to make payments in the Required Currency: 

(1)    shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment
(whether or not entered in accordance with subsection (a) above), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the
Required Currency expressed to be payable in respect of such payments; 

  
 55 

 (2)    shall be enforceable as an alternative or
additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable; and 

(3)    shall not be affected by judgment being obtained for any other sum due under this Indenture. 

Section 16.15    Tax Withholding. In order to comply with applicable tax laws, rules and
regulations (inclusive of directives, guidelines and interpretations promulgated by competent authorities) in effect from time to time (as used in this Section 16.15, “Applicable Law”) that a foreign financial institution, issuer,
trustee, paying agent, holder or other institution is or has agreed to be subject to related to this Indenture, the Company agrees (i) to provide to the Trustee sufficient information about holders or other applicable parties and/or
transactions (including any modification to the terms of such transactions) that is reasonably requested in writing and in the Company’s possession (or, to the extent not in the Company’s possession, can be obtained through commercially
reasonable efforts of the Company) so the Trustee can determine whether it has tax related obligations under Applicable Law, except to the extent that providing such information to the Trustee would result in a violation of any applicable law, rule
or regulation (inclusive of directives, guidelines and interpretations promulgated by competent authorities) or would require the consent, authorization, approval or waiver of a Person who is not a party to this Indenture or an affiliate of a party
to this Indenture and such consent, authorization, approval or waiver cannot be obtained through commercially reasonable efforts of the Company, and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments
under the Indenture to the extent necessary to comply with Applicable Law for which the Trustee shall not have any liability. The terms of this Section shall survive the termination of this Indenture. 

[Signature pages follow.] 

  
 56 

 IN WITNESS WHEREOF, each of the parties has caused this Indenture to be duly signed, all as
of the day and year first above written. 
  

			
	Aon plc, a public limited company duly organized and existing under the laws of Ireland
	By:	 	  

		 	Name:
		 	Title:
	
	Aon Global Holdings plc, a public limited company duly organized and existing under the laws of England and Wales
		
	By:	 	  

		 	Name:
		 	Title:
	
	Aon Corporation, a corporation duly organized and existing under the laws of the State of Delaware
		
	By:	 	  

		 	Name:
		 	Title:
	
	Aon plc, a public limited company duly organized and existing under the laws of England and Wales
		
	By:	 	  

		 	Name:
		 	Title:
	
	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  

  
 [Signature Page to
Indenture] 

 Annex A 

NOTATION OF GUARANTEE 

For value received, [each of] the undersigned Guarantor[s] (which term includes any successor Person[s] under the Indenture), subject to the
provisions in the Indenture and the terms of the Securities of this series, has fully, unconditionally and irrevocably guaranteed to and for the benefit of each Holder and the Trustee the due and prompt payment in full of all amounts which may at
any time be or become from time to time due and payable by the Company under the Indenture or otherwise with respect to the Securities of this series registered in such Holder’s name, at their stated due dates or when otherwise due in
accordance with the terms thereof. The obligations of [each of] the Guarantor[s] to the Holders of Securities and to the Trustee pursuant to the Guarantee under the Indenture are expressly set forth in Article Fifteen of the Indenture and
reference is hereby made to the Indenture for the precise terms of the Guarantee. Each Holder of a Security, by accepting the same, (a) agrees to and shall be bound by such provisions and (b) appoints the Trustee attorney-in-fact of such Holder for the purpose of such provisions. 
  

			
	[Guarantor[s]]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]