Document:

Issuing and Paying Agreement dated May 23, 2006

 Exhibit 4(e) 
  

 ISSUING AND PAYING AGENCY AGREEMENT 
 between 
 BANK OF AMERICA, N.A., 
 as Issuer 
 and 
 DEUTSCHE BANK TRUST COMPANY AMERICAS, 
 as Issuing and Paying Agent 
 Dated as of May 23, 2006 
  

 Senior Bank Notes and
Subordinated Bank Notes 
 Due Seven Days or More From Date of Issue 
  

  

 Table of Contents 
  

					
	  	 	 	  	Page
	 SECTION 1.
	 	 Statement of Purpose
	  	1
	 SECTION 2.
	 	 Definitions
	  	1
	 SECTION 3.
	 	 Appointment of Agents
	  	6
	             (a)
	 	 Issuing and Paying Agent
	  	6
	             (b)
	 	 Selling Agents
	  	7
	             (c)
	 	 Registrar
	  	7
	             (d)
	 	 Transfer Agents
	  	7
	             (e)
	 	 Calculation Agents
	  	8
	 SECTION 4.
	 	 The Notes
	  	9
	             (a)
	 	 Note Form
	  	9
	             (b)
	 	 Issuance of Global Notes
	  	11
	             (c)
	 	 Aggregate Principal Amount Outstanding
	  	12
	             (e)
	 	 Certificated Notes
	  	12
	             (e)
	 	 Ranking
	  	12
	 SECTION 5.
	 	 Authorized Representatives
	  	13
	 SECTION 6.
	 	 Completion, Authentication and Delivery of Notes
	  	13
	 SECTION 7.
	 	 Procedure Upon Sale of the Notes
	  	16
	 SECTION 8.
	 	 Payment of Interest; Actions on Days Other than Business Days; Payment of Other Amounts
	  	16
	 SECTION 9.
	 	 Payment of Principal
	  	18
	 SECTION 10.
	 	 Designation of Accounts to Receive Payment
	  	18
	 SECTION 11.
	 	 Information Regarding Amounts Due
	  	18
	 SECTION 12.
	 	 Subordinated Notes
	  	19
	 SECTION 13.
	 	 Deposit of Funds
	  	20
	 SECTION 14.
	 	 Events of Default
	  	20
	             (a)
	 	 Events of Default in Relation to Senior Notes
	  	20
	             (b)
	 	 Events of Default in Relation to Subordinated Notes
	  	20
	             (c)
	 	 Issuance of Certificated Notes
	  	21
	             (d)
	 	 Event of Default With Respect to Certificated Notes
	  	21
	 SECTION 15.
	 	 Registration; Transfer
	  	22
	 SECTION 16.
	 	 Persons Deemed Owners
	  	23
	 SECTION 17.
	 	 Mutilated, Lost, Stolen or Destroyed Notes
	  	23
	 SECTION 18.
	 	 Return of Unclaimed Funds
	  	23
	 SECTION 19.
	 	 Amendment or Supplement
	  	24
	 SECTION 20.
	 	 Resignation or Removal of Agents; Appointment of Successors to Agents
	  	26
	             (a)
	 	 Resignation or Removal of Agent
	  	26
	             (b)
	 	 Appointment of Successor to Agent
	  	26
	             (c)
	 	 Successor of Agent
	  	27
	             (d)
	 	 Merger, Etc. of Agent
	  	27
	             (e)
	 	 Change in Duties of an Agent
	  	27
	             (f)
	 	 Additional Agents
	  	27
	 SECTION 21.
	 	 Reliance on Instructions
	  	27

  

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	 SECTION 22.
	 	Cancellation of Unissued Notes	  	27
	 SECTION 23.
	 	Representation and Warranties of the Issuer; Instructions by Certificate	  	28
	 SECTION 24.
	 	Fees	  	28
	 SECTION 25.
	 	Notices.	  	28
	 SECTION 26.
	 	Information Furnished by the Issuing and Paying Agent	  	30
	 SECTION 27.
	 	Liability	  	30
	 SECTION 28.
	 	Additional Responsibilities; Attorneys Fees	  	30
	 SECTION 29.
	 	Transfer of Notes and Moneys	  	31
	 SECTION 30.
	 	Indemnity	  	32
	 SECTION 31.
	 	Limitation of Liability; Reliance on Opinions and Certificates	  	32
	 SECTION 32.
	 	Benefit of Agreement	  	33
	 SECTION 33.
	 	Governing Law	  	33
	 SECTION 34.
	 	Headings and Table of Contents	  	33
	 SECTION 35.
	 	Counterparts	  	33

  

					
	 EXHIBIT A
	 	Forms of DTC Letters of Representations	  	A-1
	 EXHIBIT B
	 	Administrative Procedures	  	B-1
	 EXHIBIT C-1
	 	Form of Senior Fixed Rate Note	  	C-1
	 EXHIBIT C-2
	 	Form of Subordinated Fixed Rate Note	  	C-2
	 EXHIBIT D-1
	 	Form of Senior Floating Rate Note	  	D-1
	 EXHIBIT D-2
	 	Form of Subordinated Floating Rate Note	  	D-2
	 EXHIBIT E
	 	Form of Indexed Note	  	E-1
	 EXHIBIT F
	 	Form of Legend for Original Issue Discount Notes	  	F-1
	 EXHIBIT G
	 	Bank of America, N.A. Authorized Representatives	  	G-1
	 EXHIBIT H
	 	Form of Issuing and Paying Agent’s Officer’s Certificate Referencing Authorized Representatives	  	H-1

  

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 BANK OF AMERICA, N.A. 
 ISSUING AND PAYING AGENCY AGREEMENT 
 THIS ISSUING AND PAYING AGENCY AGREEMENT dated as of
May 23, 2006 is made between BANK OF AMERICA, N.A., a national banking association organized under the laws of the United States (the “Issuer”), as Issuer, and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation (the
“Issuing and Paying Agent”), as Issuing and Paying Agent. 
 SECTION 1. Statement of Purpose. Subject to the limitations
described herein, the Issuer proposes to issue up to U.S. $50,000,000,000 in aggregate principal amount of bank notes (the “Notes”) outstanding at any one time as provided in a Distribution Agreement of even date herewith between the
Issuer and the agents named therein (the “Distribution Agreement”) and as described in an Offering Circular of even date herewith (the “Offering Circular”). The Notes will be issued in the denominations specified in the
applicable Pricing Supplement (as defined below) issued in connection with each series and tranche of Notes. Unless otherwise determined by the Issuer and specified in the applicable Pricing Supplement, beneficial interests in each tranche of Notes
will be represented by a Global Note (as defined below) and may be exchangeable for a Certificated Note (as defined below) only under limited circumstances. 
 SECTION 2. Definitions. Except as otherwise expressly provided herein or in the applicable Note or unless the context otherwise requires: (1) the words and phrases with initial capitals used herein have
the meanings specified in this Section, Section 1 or the preamble; and (2) the words “herein,” “hereof” and “hereunder” and other words of similar impact refer to this Issuing and Paying Agency
Agreement as a whole and not to any particular section or other subdivision. Capitalized terms used herein, but not otherwise defined herein, shall have the same meanings specified in the applicable Note. 
 Additional Responsibilities - Has the meaning given such term in Section 28. 
 Administrative Procedures - The Administrative Procedures applicable to the Notes, as set forth in Exhibit B, as amended and
supplemented from time to time. 
 Agent or Agents - Any of the Issuing and Paying Agent, any paying agent, any Transfer Agent,
any Calculation Agent, or the Registrar, as the context indicates. 
 Agreement - This Issuing and Paying Agency Agreement,
including the exhibits hereto, as amended or supplemented from time to time. 
 Amortizing Note - Any Note in which payments
are based on an amortization table. 
 Authorized Denomination - Has the meaning given such term in
Section 4(a)(v). 

 Authorized Representative - With respect to the Issuer, any duly authorized representative
of the Issuer as set forth in Exhibit G, and any other representative of the Issuer which the Issuer may certify in writing to the Issuing and Paying Agent. 
 Business Day - Unless otherwise specified in a Pricing Supplement relating to a particular Note, with respect to any Note, any day that is not a Saturday or Sunday and that is not a day on which banking
institutions in New York City or Charlotte, North Carolina or any other place of payment with respect to the applicable Note are authorized or obligated by law to close. “Business Day” also means, with respect to Notes where the base rate
is LIBOR (as defined in the Note), a London Banking Day. 
 Calculation Agent - With respect to the Notes, such Person
appointed by the Issuer to calculate the interest rates, amounts of payments due, and other fixed amounts payable, and performing any other duties specified in the applicable Pricing Supplement as being duties required to be performed by the
Calculation Agent, as further described in Section 3(e). 
 Certificate of Authentication - Has the meaning given
such term in Section 4(a)(vi). 
 Certificated Notes - Any Notes issued in fully registered, certificated form.

 Depository - With respect to Notes issued in the form of one or more Global Notes, the Person designated as depository by
the Issuer, which Depository at all times shall be a trust company validly existing and in good standing (at the time of its appointment) under the laws of the United States or any state thereof and shall be a clearing agency duly registered under
the Securities Exchange Act. 
 Distribution Agreement - The Distribution Agreement, dated as of May 23, 2006, among the
Issuer, Banc of America Securities LLC, Bear, Stearns & Co. Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Morgan
Stanley & Co. Incorporated, as amended and supplemented from time to time. 
 DTC - The Depository Trust Company or
its successors and assigns. 
 Event of Default - Has the meaning given such term in Section 14. 
 Extension Period(s) – The period or periods by which the Issuer may extend the Stated Maturity of Notes which provide for such extension.

 FDIC – Federal Deposit Insurance Corporation. 
 Final Maturity Date - The latest date designated on the face of a Note which provides for the maturity thereof. 
  

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 Fixed Rate Notes - Any Notes bearing interest at one or more designated rates of interest
payable in arrears and substantially in the form of Exhibit C-1, if such Note is a Senior Note, or Exhibit C-2, if such Note is a Subordinated Note. 
 Floating Rate Notes - Any Notes that bear interest at a rate that is determined by reference to an interest rate basis or by one or more interest rate formulas, as specified by the Issuer in the
applicable Pricing Supplement and on the related Floating Rate Note, and substantially in the form of Exhibit D-1, if such Note is a Senior Note, or Exhibit D-2, if such Note is a Subordinated Note. 
 Global Note - A Note, in the form provided by Section 4(a), issued to the Depository or its nominee, and registered in the
Register in the name of the Depository or its nominee. 
 Holder - The Person in whose name a Note is registered in the
Register. 
 Indexed Notes - Any Notes for which the amount of principal, premium, if any, interest, or other amounts payable
is determined, either directly or indirectly, by reference to the price or performance of one or more (a) securities, (b) debt obligations or basket of debt obligations; (c) currencies or composite currencies, (d) commodities,
(e) interest rates, (f) stock indices, or (g) other indices or formulae, as specified by the Issuer on the related Indexed Note and substantially in the form of Exhibit E. Subject to compliance with all applicable legal,
regulatory and clearing system settlement requirements, the Issuer may issue Indexed Notes which may be settled by delivery of non-cash payments such as securities, loans or other instruments. 
 Initial Redemption Date - With respect to a Note that is subject to an Optional Redemption, the date specified as the Initial Redemption
Date on such Note and after which, but prior to the Stated Maturity, an Optional Redemption of such Note may occur as specified in such Note. 
 Interest Payment Date - A date for payment of interest on a Note, as provided in the Note. 
 Issuer – Has
the meaning given such term in the preamble. 
 Issuing and Paying Agent – Has the meaning given such term in the preamble.

 Letters of Representations - The letters from the Issuing and Paying Agent and Issuer, as appropriate, to be furnished to
DTC in accordance with Section 3(a), substantially in the forms set forth in Exhibit A. 
 London Banking Day
- Any day on which commercial banks are open for business (including dealings in U.S. dollars) in London, England. 
 Note or
Notes - Any of the Issuer’s Senior Notes or Subordinated Notes, each with maturities of seven days or more from their respective dates of issue, which may be issued, authenticated and delivered under this Agreement. 
  

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 OCC - Office of the Comptroller of the Currency. 
 Offering Circular - The Offering Circular of the Issuer relating to the Notes dated May 23, 2006, as the same may be amended or supplemented
from time to time. 
 Officer’s Certificate - A certificate of the Issuer signed by an Authorized Representative and delivered to
the Issuing and Paying Agent. 
 Optional Redemption - A redemption of a Note on or after the date designated on such Note as
the Initial Redemption Date at the option of the Issuer as set forth in such Note at a Redemption Price as set forth in such Note. 
 Original Issue Date - As to any Note, the date on which the Note was issued and the purchase price was paid by the related Holder; except that with respect to a Reopened Note, the Original Issue Date for all portions of that
Note shall be the date on which the first portion of that Note was issued and the purchase price was paid by the related Holder. 
 Original Issue Discount Note - Any Note issued at an issue price representing more than a de minimis discount from the principal amount payable at its Stated Maturity for United States federal income tax purposes. 

Outstanding - For purposes of the provisions of this Agreement and the Notes, any Note authenticated and delivered pursuant to this
Agreement, as of any date of determination, shall be deemed to be “Outstanding,” except: (i) Notes that have been canceled or delivered to the Issuing and Paying Agent for cancellation; (ii) Notes that have become due and payable
on their Principal Payment Date and with respect to which monies sufficient to pay the principal or Redemption Price, as the case may be, and interest thereon shall have been made available to the Issuing and Paying Agent; or (iii) Notes in
lieu of or in substitution for which other Notes shall have been authenticated and delivered pursuant to this Agreement. 
 Payment Date
- A date for payment of principal of and interest on an Amortizing Note as provided in the Note. 
 Person - Any
legal person, including any individual, corporation, limited liability company, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency, instrumentality or political subdivision.

 Predecessor Notes - With respect to any particular Note, every previous Note evidencing all or a portion of the same debt as
that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 17 or the terms of a Note in lieu of or in exchange for a mutilated, lost, destroyed or stolen Note shall
be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note, and any Note issued upon registration of transfer of or in exchange for any other Note shall be deemed to evidence all or a portion of the same debt evidenced by
such other Note. 
  

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 Prepayment Option Price – With respect to any Note subject to prepayment at the option of the
Holder, the amount payable to the Holder upon prepayment of the Note together with any accrued interest to the date of prepayment, as specified in the applicable Note. 
 Pricing Supplement - A supplement to the Offering Circular for a particular Note or Notes containing the particular terms and conditions of that series of Notes. 
 Principal Office - Subject to the right of each to change its office, by advance
written notice to the Issuer, such term means, (1) for the Issuing and Paying Agent, its principal corporate trust office at 60 Wall Street, 27th Floor, Mail Stop, NYC 60-2710, New York, New York 10005, Attention: Corporate Trust and Agency Group; and (2) for any successor or additional Agents, their offices specified in writing to the
Issuer and the Issuing and Paying Agent. 
 Principal Payment Date - The date provided on the face of the Note on which the
principal, or Redemption Price of the Note, as the case may be, becomes due and payable. 
 Redemption Price - With respect to
any Note subject to an Optional Redemption, the amount specified in such Note as payable, when such Note is redeemed on or after the Initial Redemption Date. 
 Register - The register for the registration and transfer of the Notes maintained pursuant to Section 15. 
 Registrar – Deutsche Bank Trust Company Americas, or any successor or successors as Registrar, appointed by the Issuer, who shall perform the duties as Registrar under this Agreement. 
 Regular Record Date – Unless otherwise specified in the Note, the date on which a Holder must hold a Note in order to receive an interest
payment on the next Interest Payment Date or Payment Date, as applicable. Unless otherwise specified in the Note, the Regular Record Date for any Interest Payment Date or Payment Date is the date that is 15 calendar days (whether or not a Business
Day) prior to that Interest Payment Date or Payment Date, as the case may be. 
 Renewable Note - A Note the maturity of which
may be renewed at the option of the Holder in accordance with the terms of the Note. 
 Reopened Note - A Note issued after the
Original Issue Date of a series of Notes with the same terms as the original Note and which makes up a single series of Notes with the previously issued Note and increases the total principal amount of that series of Notes. 
 Securities Exchange Act - The Securities Exchange Act of 1934, as amended. 
 Selling Agent - Any party, other than the Issuer, to the Distribution Agreement, including any party added to such agreement after its
initial date of execution. The initial Selling Agents are: Banc of America Securities LLC, Bear, Stearns & Co. Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Lehman Brothers Inc., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, and Morgan Stanley & Co. Incorporated. 
  

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 Senior Note – A Note evidencing the senior obligations of the Issuer, which shall be
substantially in the form of Exhibit C-1 (if such Note is a Fixed Rate Note) or Exhibit D-1 (if such Note is a Floating Rate Note). 
 Stated Maturity - The date specified as the fixed date on which the principal of any Note, or any installment of principal and interest of an Amortizing Note, is due and payable. 
 Subordinated Note – A Note evidencing the subordinated obligations of the Issuer, which shall be substantially in the form of Exhibit
C-2 (if such Note is a Fixed Rate Note) or Exhibit D-2 (if such Note is a Floating Rate Note). 
 Transfer Agent -
Any Person or Persons appointed by the Issuer to exchange or transfer Notes issued by the Issuer. 
 SECTION 3. Appointment of Agents.

 (a) Issuing and Paying Agent. The Issuer hereby confirms its appointment of Deutsche Bank Trust Company Americas, as
Issuing and Paying Agent of the Issuer in respect to the Notes upon the terms and subject to the conditions herein set forth, and Deutsche Bank Trust Company Americas hereby confirms its acceptance of such appointment, upon and subject to the terms
and conditions set forth below, for the purposes of: 
 (i) completing, authenticating and delivering Global Notes and (if
required) authenticating and delivering Certificated Notes; 
 (ii) paying sums due on Global Notes and Certificated Notes;

 (iii) unless otherwise specified in the applicable Pricing Supplement, determining the interest or other amounts payable in
respect of the Notes in accordance with the terms and conditions of the Notes; 
 (iv) arranging on behalf of the Issuer for
notices to be communicated to the Holders; and 
 (v) performing all other obligations and duties imposed upon it by the terms
and conditions of the Notes, this Agreement or as may be agreed between the Issuer and the Issuing and Paying Agent in connection with a particular series or tranche of Notes. 
 The Issuer further appoints and authorizes Deutsche Bank Trust Company Americas as Issuing and Paying Agent to act as its Issuing and
Paying Agent in executing the Letters of Representations to be delivered to the Depository, in substantially the forms set forth in Exhibit A. 
  

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 The Issuing and Paying Agent shall at all times be a bank or trust company organized
under the laws of the United States or any jurisdiction in the United States and authorized and empowered under such laws to fulfill and perform all the duties and obligations of the Issuing and Paying Agent hereunder. 
 The Issuing and Paying Agent represents that it is a bank or trust company meeting the foregoing requirements and that it promptly shall
notify the Issuer of any occurrence or event that renders it unable to continue to make the representations in this Agreement. 
 (b) Selling Agents. The Issuer has appointed Banc of America Securities LLC, Bear, Stearns & Co. Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Lehman Brothers Inc., Merrill Lynch, Pierce,
Fenner & Smith Incorporated, and Morgan Stanley & Co. Incorporated, as Selling Agents for the Notes by and under the terms of the Distribution Agreement, under which the Issuer may, from time to time, appoint other Selling Agents.

 (c) Registrar. The Issuer hereby appoints Deutsche Bank Trust Company Americas as Registrar of the Issuer in respect
of the Notes upon the terms and conditions set forth herein, and Deutsche Bank Trust Company Americas hereby accepts such appointment. The Registrar will keep the Register and otherwise act as Registrar in accordance with the terms of this
Agreement. 
 The Registrar will keep a record of all Notes, at its Principal Office or at such other location as it may
choose and as to which it will give advance notice to the Issuer. The Registrar will include in such record a notation as to whether such Notes have been paid or cancelled or, in the case of mutilated, destroyed, stolen or lost Notes, whether such
Notes have been replaced. In the case of the replacement of any of the Notes, the Registrar will keep a record of the Notes so replaced and the Notes issued in replacement thereof. 
 (d) Transfer Agents. The Issuer (at its sole cost and expense) may appoint from time to time one or more Transfer Agents for one or
more of the Notes. The Issuer shall solicit written acceptance of the appointment from any entity so appointed as Transfer Agent. Such written acceptance shall be in a form satisfactory to the Issuing and Paying Agent and shall state that by the
Transfer Agent’s acceptance of such appointment, it agrees to act as a Transfer Agent pursuant to the terms and conditions of this Agreement. The Issuer hereby confirms its appointment of Deutsche Bank Trust Company Americas as the initial
Transfer Agent for the Notes, and Deutsche Bank Trust Company Americas hereby confirms its acceptance of such appointment. 
  

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	(e)	Calculation Agents. 

  

	 	1.	Appointment of Calculation Agent: The Issuer (at its sole cost and expense) may appoint from time to time one or more Calculation Agents for one or more of the Notes. The
Issuer shall solicit written acceptance of the appointment from any entity so appointed as Calculation Agent. Such written acceptance shall be in a form satisfactory to the Issuing and Paying Agent and shall state that by the Calculation
Agent’s acceptance of such appointment, it agrees to act as a Calculation Agent pursuant to the terms and conditions of this Agreement. 

  

	 	(a)	Floating Rate Notes: Except as otherwise specified in a Pricing Supplement relating to a particular Note, the Issuer hereby appoints Deutsche Bank Trust Company Americas as
the initial Calculation Agent for the Floating Rate Notes, and Deutsche Bank Trust Company Americas hereby accepts such appointment. 

  

	 	(b)	Indexed Notes: Before issuing an Indexed Note, the Issuer shall appoint a Calculation Agent for the purpose of calculating the principal payable at maturity, the rate of
interest or other amounts payable on the Indexed Notes, all in accordance with the terms of the Indexed Notes. With respect to Indexed Notes, at such times as shall be specified in the Indexed Note and the related Pricing Supplement, the Calculation
Agent shall determine the index (if required), principal, premium, if any, rate of interest, interest payable or other amounts payable. Upon the request of the Holder of any Indexed Note, the Calculation Agent will provide, if applicable, the
current index, principal, premium, if any, rate of interest, interest payable or other amounts payable in connection with such Indexed Note. 

  

	 	2.	 Duties and Responsibilities: The duties and responsibilities of the Calculation Agent shall be as specified herein, in the Administrative Procedures attached
as Exhibit B, in the applicable Note and in a calculation agency agreement between the Issuer and the Calculation Agent. As promptly as practicable after each Interest Determination Date for a Floating Rate Note or an Indexed Note, the
Calculation Agent will notify the Issuer of the interest rate, if any, which will become effective on the next Interest Reset Date (as such terms are defined in the applicable Floating Rate Note or Indexed Note). Upon the request of the Holder of a
Floating Rate Note or an Indexed Note, the Calculation Agent will provide to the Holder the interest rate then in effect and, if 

  

 8 

 
determined, the interest rate which will become effective on the next Interest Reset Date with respect to such Floating Rate Note or such Indexed Note.

 SECTION 4. The Notes. 
 (a) Note Form. Except as otherwise provided in Section 4(d) and except with respect to a Reopened Note, and subject to any maximum principal amount of a Global Note required by the Depository, each
Note issued by the Issuer with the same Original Issue Date and otherwise having identical terms shall be represented by a single master Global Note certificate. Fixed Rate Notes will be substantially in the form of Exhibit C-1 or Exhibit
C-2; Floating Rate Notes will be substantially in the form of Exhibit D-1 or Exhibit D-2; and Indexed Notes will be substantially in the form of Exhibit E. The Notes may contain such insertions, omissions, substitutions and
other variations as the Issuer determines to be required or permitted by this Agreement and may have such letters, numbers or other marks of identification and such legend or legends or endorsements placed thereon as any officer of the Issuer
executing such Notes may determine to be necessary or appropriate, as evidenced by such officer’s execution of such Notes by manual or facsimile signature, including, without limitation, any legends or endorsements that may be required to
comply with any law or with any rules or regulations pursuant thereto, or with any rules of any securities exchange on which the Notes may be listed or to conform to general usage. 
 (i) Global Note Legend. Any Global Note issued hereunder, in addition to the provisions contained in Exhibits C-1, C-2, D-1, D-2
or E, as the case may be, shall bear a legend in substantially the following form: 
 “This Note is a Global Note within the meaning
of the Issuing and Paying Agency Agreement hereinafter referred to and is registered in the name of a Depository or a nominee of a Depository. This Note is not exchangeable for Notes registered in the name of a person other than the Depository or
its nominee except in the limited circumstances described in the Issuing and Paying Agency Agreement, and no transfer of this Note (other than a transfer as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository
to the Depository or another nominee of the Depository) may be registered except in the limited circumstances described in the Issuing and Paying Agency Agreement.” 
 (ii) Depository Legend. Furthermore, each Global Note issued hereunder to DTC or its nominee shall bear a legend in substantially
the following form: 
 “Unless this Note is presented by an authorized representative of The Depository Trust Company to the Issuer or
its agent for registration of transfer, exchange or payment, and any certificate 

  

 9 

 
issued is registered in the name of CEDE & CO. or such other name as requested by an authorized representative of The Depository Trust Company and
any payment is made to CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, CEDE & CO., has an interest herein.” 
 (iii) Subordinated Note Legends. Each Global Note representing a Subordinated Note issued hereunder shall contain on its face the
legends substantially in the form of Exhibit C-2 or Exhibit D-2, as applicable. 
 (iv) Original Issue
Discount Notes. Each Original Issue Discount Note shall contain on its face a legend substantially in the form of Exhibit F. 
 (v) Denominations. Unless otherwise indicated in the applicable Notes and the applicable Pricing Supplement, except as provided in Section 4(d) or if the Issuer elects to issue Notes in certificated
form, the Notes shall be issuable only in book-entry form, without coupons. Unless otherwise indicated in the applicable Notes and the applicable Pricing Supplement, the Notes will be issued in minimum denominations of $250,000 and integral
multiples of $1,000 in excess of $250,000 (the “Authorized Denominations”). 
 (vi) Certificate of
Authentication. Only Notes that bear thereon a certificate of authentication substantially in a form set forth below (a “Certificate of Authentication”), executed by the Issuing and Paying Agent by two manual signatures, and dated the
date of authentication, will be valid: 
 Certificate of Authentication 
 This is one of the Notes referred to in the within-mentioned Issuing and Paying Agency Agreement. 
  

									
	 Dated:
	 	  
	 		 	DEUTSCHE BANK TRUST COMPANY AMERICAS
		 		 		 	as Issuing and Paying Agent
					
		 		 		 	By	 	Deutsche Bank National Trust Company
					
		 		 		 	By:	 	  

		 		 		 		 	            Authorized Signatory
					
		 		 		 	By:	 	  

		 		 		 		 	            Authorized Signatory

 (vii) Signature. Each Note will be signed manually or by facsimile by an
Authorized Representative. The Notes will have a Stated Maturity of not less than 

  

 10 

 
seven days from date of issue and will be issued in the respective order of the serial numbers imprinted thereon. The Issuing and Paying Agent shall maintain
in safe custody all blank Notes that the Issuer delivers to it and that it holds hereunder, and in accordance with its customary practices and procedures. The Issuing and Paying Agent shall complete and issue such Notes only in accordance with the
terms of this Agreement. 
 (viii) Certificated Notes. The Issuer from time to time and upon request will furnish the
Issuing and Paying Agent with an adequate supply of Certificated Notes (senior and subordinated), without coupons, serially numbered, which will have the applicable terms which may be specified with respect to such Notes in accordance with the
Administrative Procedures left blank. 
 (b) Issuance of Global Notes 
 (i) Following receipt of a notification from the Issuer in respect of an issue of Notes, the Issuing and Paying Agent will take the steps
required of the Issuing and Paying Agent in the Administrative Procedures to issue the Global Note. For this purpose, the Issuing and Paying Agent is authorized on behalf of the Issuer: 
 (A) to prepare a Global Note in accordance with such notification by attaching a copy of the applicable Pricing Supplement to the
relevant master Global Note; 
 (B) to authenticate (or cause to be authenticated) such Global Note; 
 (C) to deliver such Global Note to the specified Depository (or such Global Note may be held by the Issuing and Paying Agent as custodian
for such Depository) in accordance with the notification against receipt from the Depository of confirmation that such Depository is holding the Global Note in safe custody for the account of the participants and to credit the Notes against
appropriate accounts; and 
 (D) to ensure that the Notes of each series are assigned a CUSIP number, which will be provided
to the Issuing and Paying Agent by the Issuer. 
 (ii) Notwithstanding the foregoing, any Global Note issued by the Issuer
shall be exchangeable for Certificated Notes registered in the name of Persons other than the Depository for such Note or its nominee only if (i) such Depository notifies the Issuing and Paying Agent that it is unwilling or unable to continue
as Depository for such Global Note or if at any time such Depository ceases to be a clearing agency registered under the Securities Exchange Act and in either such case a successor Depository is not appointed by the Issuer within 90 calendar days,
or (ii) the Issuer, in its sole discretion, executes and delivers to the 

  

 11 

 
Issuing and Paying Agent a written notification that such Global Note shall be so exchangeable or (iii) an Event of Default occurs and is continuing
with respect to such Global Note. Any Global Note that is exchangeable pursuant to the preceding sentence shall be exchangeable for Certificated Notes registered in such names as such Depository shall direct. Notwithstanding any other provision in
this Agreement, a Global Note may not be transferred except as a whole by the Depository with respect to such Global Note to a nominee of such Depository or by a nominee of such Depository to such Depository or another nominee of such Depository.

 (c) Aggregate Principal Amount Outstanding. As of the date hereof, the Issuer has authorized the offer and issuance
from time to time of Notes with maturities of seven days or more up to a maximum principal amount at any one time outstanding of $50,000,000,000. In order to comply with the registration and prospectus regulations of the OCC, not more than
$50,000,000,000 aggregate principal amount of Notes with maturities of more than 270 days may be issued under this Agreement. However, Notes with maturities of 270 days or less are exempt from the registration and prospectus regulations of the OCC.
Accordingly, the Issuer is selling the Notes subject to the following limitations: (a) under the program, the Issuer may not issue more than $50,000,000,000 aggregate principal amount of Notes with maturities of more than 270 days from their
respective issue dates; and (b) not more than $50,000,000,000 aggregate principal amount of all Notes may be issued and outstanding at any one time. Notwithstanding the foregoing, if the Issuer authorizes the offer and issuance of additional
Notes and, to the extent necessary, registers such Notes with the OCC, such additional Notes may be sold to or through the Agents pursuant to the terms of this Agreement and the Distribution Agreement, all as though the offer and issuance of such
notes were authorized as of the date hereof. 
 (d) Certificated Notes. If at any time the Depository notifies the
Issuer or the Issuing and Paying Agent that it is unwilling or unable to continue to act as Depository for any of the Global Notes, or if at any time such Depository ceases to be a clearing agency registered under the Securities Exchange Act and in
either such case a successor Depository is not appointed by the Issuer within 90 calendar days, the Issuer will execute and the Issuing and Paying Agent, upon the receipt of procedures for certificated securities in form and substance satisfactory
to the Issuer and the Issuing and Paying Agent and upon receipt of instructions in writing from the Issuer, will authenticate and deliver to the Holder or the Holder’s designee Notes of like tenor and terms in definitive form in an aggregate
principal amount equal to the Global Notes then outstanding in exchange for such Global Notes. 
 (e) Ranking. The
Senior Notes will be unsecured and will rank equally with all of the Issuer’s other unsecured and unsubordinated indebtedness, except obligations, including deposits, that are subject to any priorities or preferences by law. In the event of the
Issuer’s insolvency, the holders of the Senior Notes could receive a significantly lesser proportion of the claims evidenced by their Notes than holders of the Issuer’s deposit obligations. The Subordinated Notes are subordinated and rank
junior in right of payment to the extent described in Section 12. The Subordinated Notes are unsecured and are ineligible as collateral for a loan by the Issuer. 
  

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 SECTION 5. Authorized Representatives. The Issuer hereby certifies that each person named in
Exhibit G hereto and designated as affiliated with the Issuer is a duly Authorized Representative of the Issuer and that the signature set forth opposite such representative’s name is his or her true and genuine signature. The Issuing
and Paying Agent shall be entitled to rely on the information set forth in Exhibit G for purposes of determining an Authorized Representative until such time as the Issuing and Paying Agent receives a subsequent Officer’s Certificate
from the Issuer deleting or amending any of the information set forth therein. The Issuing and Paying Agent shall not have any responsibility to the Issuer to determine whether any signature on a Note purporting to be that of an Authorized
Representative named in Exhibit G with respect to the Issuer is genuine, so long as such signature resembles the specimen signature set forth in Exhibit G or in a subsequent certificate delivered to the Issuing and Paying Agent by the
Issuer. Any Note bearing the signature of a person who is an Authorized Representative named in Exhibit G with respect to the Issuer on the date he or she signs such Note shall be a binding obligation of the Issuer upon the completion and
authentication thereof by the Issuing and Paying Agent, notwithstanding that such person shall have ceased to be an Authorized Representative on the date such Note is completed, authenticated or delivered by the Issuing and Paying Agent. 

SECTION 6. Completion, Authentication and Delivery of Notes. 
 (a) Upon the issuance of Notes hereunder, the Issuer shall deliver instructions as to the completion of the Notes (as described below) to
a duly authorized representative of the Issuing and Paying Agent named in Exhibit H hereto, or to any additional authorized representative which may be named by the Issuing and Paying Agent (of which the Issuer shall be notified in writing).
Such instructions shall be delivered from time to time through the use of a facsimile transmission (confirmed by guaranteed delivery of overnight courier) from any Authorized Representative. Such instructions shall include the following (each term
as used or defined in the related form of Note attached to such instructions): 
  

	 	1.	Issue Price, Principal Amount of the Note, CUSIP Number and, whether such Note is a Senior Note or a Subordinated Note. 

  

	 	2.	(a)          Fixed Rate Notes: 

  

	 	(i)	Interest Rate, 

  

	 	(ii)	Interest Payment Dates, and 

  

	 	(iii)	Regular Record Dates. 

  

 13 

	 	    	(b)        Floating Rate Notes: 

  

	 	(i)	Base Rate or Rates, 

  

	 	(ii)	Initial Interest Rate, 

  

	 	(iii)	Spread and/or Spread Multiplier, if any, 

  

	 	(iv)	Interest Reset Date or Dates, 

  

	 	(v)	Interest Reset Period, 

  

	 	(vi)	Interest Payment Dates, 

  

	 	(vii)	Regular Record Dates, 

  

	 	(viii)	Index Maturity, 

  

	 	(ix)	Maximum and Minimum Interest Rates, if any, and 

  

	 	(x)	Calculation Agent, if other than the Issuing and Paying Agent. 

  

	 	    	(c)        Indexed Notes: 

  

	 	(i)	Base Rates, 

  

	 	(ii)	Initial Interest Rate(s), 

  

	 	(iii)	Underlying index, credit or formula, 

  

	 	(iv)	Interest (or Other Amounts Payable) Reset Date(s), 

  

	 	(v)	Interest (or Other Amounts Payable) Reset Period(s), 

  

	 	(vi)	Interest (or Other Amounts Payable) Payment Date(s), 

  

	 	(vii)	Regular Record Dates, 

  

	 	(viii)	Maximum and Minimum Interest Rates, if any, 

  

	 	(ix)	Any terms relating to the exchange of such Notes, and 

  

 14 

	 	(x)	Calculation Agent. 

  

	 	3.	Price to public, if any, of the Note (or whether the Note is being offered at varying prices relating to prevailing market prices at time of resale as determined by the applicable
Selling Agent). 

  

	 	4.	Trade date. 

  

	 	5.	Settlement date. 

  

	 	6.	Original Issue Date. 

  

	 	7.	Stated Maturity. 

  

	 	8.	If applicable, an Amortization Table specifying the rate at which an Amortizing or Indexed Note, as applicable, is to be amortized, and with respect to an Indexed Note, specifying
the applicable reference rate, if any, or lock-out date, if any. 

  

	 	9.	Redemption provisions, if any, including Initial Redemption Date, initial redemption percentage, annual redemption reduction percentage, whether partial redemption is permitted and
the method of determining Notes to be redeemed. 

  

	 	10.	Prepayment option date(s) and Prepayment Option Price(s), if any. 

  

	 	11.	Extension provisions, if any, including length of Extension Period(s), number of Extension Periods and Final Maturity Date. 

  

	 	12.	Renewal terms, if any, of a Renewable Note. 

  

	 	13.	Net proceeds to the Issuer. 

  

	 	14.	The Selling Agent’s commission or underwriting discount and the Selling Agent’s participant account at the Depository for settlement. 

  

	 	15.	Whether such Notes are being sold to the Selling Agent as principal or to an investor or other purchaser through the Selling Agent acting as agent for the Issuer, or by the Issuer
itself. 

  

	 	16.	Whether such Note is being issued as an Original Issue Discount Note and the terms thereof. 

  

 15 

	 	17.	Such other information specified with respect to the Notes (whether by addendum, text to be included under “Other Provisions” on the face of such Note, or otherwise).

 (b) Upon receipt of the information set forth in subsection (a) above, the Issuing and Paying Agent will
confirm by facsimile to the Issuer the principal amount of the Notes of the Issuer issued hereunder as of such date after giving effect to such transaction and to all other transactions with respect to which the Issuer has given instructions
hereunder to the Issuing and Paying Agent, but which have not yet been settled. 
 For purposes of calculating the aggregate principal amount
of Notes issued and/or outstanding at any time hereunder: 
  

	 	(i)	the principal amount of Original Issue Discount Notes and any other Notes issued at a discount or premium shall be deemed to be the net proceeds received by the Issuer for the
relevant issue; and 

  

	 	(iii)	the outstanding amount of Indexed Notes shall be calculated by reference to the original nominal amount of such Notes. 

 The Issuing and Paying Agent shall promptly notify the Issuer of each determination made as aforesaid. 
 (c) Upon receipt of such instructions, if such Notes are to be issued as one or more Global Notes, the Issuing and Paying Agent shall
communicate to the Depository and the Selling Agents through DTC’s Participant Terminal System, a pending deposit message specifying the settlement information required in the Administrative Procedures. 
 (d) Instructions regarding the completion of a Note must be received by the Issuing and Paying Agent not later than the time and date
specified in the Administrative Procedures. 
 SECTION 7. Procedure Upon Sale of the Notes. The Issuing and Paying Agent will, upon
reasonable written request, promptly deliver copies of such Global Notes (with any additional terms provided by the Issuer included thereon) to the appropriate Selling Agents in accordance with Section 6(a). 
 SECTION 8. Payment of Interest; Actions on Days Other than Business Days; Payment of Other Amounts. 
 (a) Subject to the receipt of funds as provided in Section 13, interest payments will be made on the Notes on each Interest
Payment Date and on the Stated Maturity (or the date of Optional Redemption, if any) pursuant to the terms stated on the Note and will include interest accrued from the most recent Interest Payment Date to which interest has been paid (or if no
interest has been paid, from the Original Issue Date) to but excluding 

  

 16 

 
the next Interest Payment Date (or the Stated Maturity or the date of Optional Redemption, as applicable). All such interest payments (other than interest
due on the Stated Maturity, or on the date of Optional Redemption if a Note is redeemed prior to its Stated Maturity) will be paid to the Holder of such Note at the close of business on the applicable Regular Record Date. Notwithstanding the
foregoing, unless otherwise specified in the applicable Pricing Supplement, if a Note is issued between a Regular Record Date and the next succeeding Interest Payment Date, then the initial interest payment will be made on the second Interest
Payment Date following the Original Issue Date, to the Holder on the Regular Record Date immediately succeeding such first Interest Payment Date. In such a case, interest will begin to accrue on the Original Issue Date and not from the previous
Interest Payment Date. 
 Unless otherwise specified in the Note and in an applicable Pricing Supplement, interest on Fixed
Rate Notes (including payments for partial periods) having maturities of one year or more will be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. Unless otherwise specified in the Note and in an applicable
Pricing Supplement, interest on Fixed Rate Notes (including payments for partial periods) having maturities of less than one year will be paid only at maturity and will be computed and paid on the basis of the actual number of days elapsed divided
by 360. 
 Accrued interest on Floating Rate Notes is calculated by multiplying the principal amount of a Note by an accrued
interest factor. This accrued interest factor is the sum of the interest factors calculated for each day in the period for which accrued interest is being calculated. Unless otherwise indicated in the applicable pricing supplement, the accrued
interest factor will be computed and interest will be paid (including payments for partial periods) as follows: 
 (1) for
Floating Rate Notes based on the federal funds rate, LIBOR, the prime rate, or any other floating rate other than the treasury rate, the daily interest factor will be computed by dividing the interest rate in effect on that day by 360; and

 (2) for Floating Rate Notes based on the treasury rate, the daily interest factor will be computed by dividing the interest
rate in effect on that day by 365 or 366, as applicable. 
 All interest on Certificated Notes (other than interest payable at
Stated Maturity or upon any Optional Redemption) will be paid by check of the Issuing and Paying Agent mailed by such Issuing and Paying Agent to the Holder as such Holder’s address is shown in the Register referred to in Section 15
on the applicable Regular Record Date, or to such other address in the United States as such Holder shall designate to the Issuing and Paying Agent in writing not later than the relevant Regular Record Date; provided, however, that a
Holder of $1,000,000 or more in aggregate principal amount of Certificated Notes (all of which have identical terms and tenor) shall be entitled to receive payments of interest (other than interest payable at maturity or upon redemption) by wire
transfer of immediately available funds upon written request to the Issuing and Paying Agent not later than 15 calendar days prior to the applicable Interest Payment Date or Payment Date, as the case may be. All interest payments on any Global Note

  

 17 

 
(other than interest due on the Stated Maturity or the Optional Redemption date, if any) will be paid in accordance with the arrangements then in place
between the Issuing and Paying Agent, the Depository and its nominee, as holder. The Issuing and Paying Agent will withhold taxes, if any, on interest to the extent that it has been instructed in writing by the Issuer that any taxes should be
withheld. 
 (b) Actions Due on Saturdays, Sundays and Holidays. If any date on which a payment, notice or other action
required by this Agreement, the Administrative Procedures or the Note falls on any day other than a Business Day, then that action or payment need not be taken or made on such date, but may be taken or made on the next succeeding Business Day on
which the Issuing and Paying Agent is open for business with the same force and effect as if made on such date. 
 (c)
Payment of Other Amounts. With respect to any Indexed Note which may include the payment of other amounts, the relevant Pricing Supplement shall provide for determination of, and timing and method of payment for, such other amounts.

 SECTION 9. Payment of Principal. Upon the Stated Maturity (or date of Optional Redemption, if any) of any Note, or on each Payment
Date, in the case of an Amortizing Note, and, as applicable, only upon presentation and surrender of such Note on or after the Stated Maturity (or the date of Optional Redemption, if any), the Issuing and Paying Agent shall pay, subject to the
receipt of funds as provided in Section 13, the principal amount of the Note together with accrued interest due on the Stated Maturity (or the date of Optional Redemption, if any), either (i) by separate wire transfer of immediately
available funds to such account at a bank in The City of New York (or other bank consented to by the Issuer) as the Holder of such Note shall have designated in writing to the Issuing and Paying Agent at least 15 calendar days prior to such
Principal Payment Date and if such Note is a Global Note, to the Depository, or (ii) by check of the Issuing and Paying Agent, payable to the order of the Holder of the Note or its properly designated assignee or custodian. Upon payment in
full, the Issuing and Paying Agent will cancel the Note and remit it directly to the Issuer thereof. 
 SECTION 10. Designation of
Accounts to Receive Payment. In the event that Notes are issued in certificated form, a bank account may be designated to the Issuing and Paying Agent to receive payments of interest and principal under Sections 8 and 9 either
(i) by an Authorized Representative of the Issuer included in Exhibit G hereto in the authentication instructions given by it to the Issuing and Paying Agent under Section 6(a) hereof in respect of particular Notes, or
(ii) in the event that the authentication instructions make no designation, or that the Holder wishes to change a designation previously made, by written notice from the Holder to the Issuing and Paying Agent. Such written notice must be
provided to the Issuing and Paying Agent not later than 15 calendar days prior to any Interest Payment Date, Principal Payment Date or Payment Date, as the case may be. 
 SECTION 11. Information Regarding Amounts Due. The Issuing and Paying Agent shall provide to the Issuer, at least five Business Days before each Interest Payment Date or other Payment Date, a list of interest
payments or other payments to be made on the following Interest Payment Date or other Payment Date for each Note and in total. The Issuing and Paying Agent will provide to the Issuer by the fifteenth day of each month a list of the principal,
premium, if any, and interest or other amounts to be paid on Notes maturing in the next succeeding month. 
  

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 SECTION 12. Subordinated Notes. The Issuer shall not modify the terms of subordination of any
Subordinated Note, nor amend the original Stated Maturity of any Subordinated Note issued hereunder, without first obtaining the written consent to such modification or amendment from the OCC and any applicable state regulator to the extent
required. 
 The indebtedness of the Issuer evidenced by the Subordinated Notes, including the principal, premium (if any), interest or other
amounts payable (if any), shall be subordinate and junior in right of payment to its obligations to its depositors, its obligations under bankers’ acceptances and letters of credit, and its obligations to its other creditors (including Holders
of Senior Notes), including its obligations to the Federal Reserve Bank, the FDIC, and to any rights acquired by the FDIC as a result of loans made by the FDIC to the Issuer or the purchase or guarantee of any of the Issuer’s assets by the FDIC
pursuant to the provisions of 12 U.S.C. Sections 1823(c), (d) or (e), whether now outstanding or hereafter incurred. In the event of any insolvency, receivership, conservatorship, reorganization, readjustment of debt, marshaling of assets and
liabilities or similar proceedings or any liquidation or winding up of or relating to the Issuer, whether voluntary or involuntary, all such obligations shall be entitled to be paid in full before any payment shall be made on account of the
principal of, or premium (if any), interest, or other amounts payable (if any) on, the Subordinated Notes. In the event of any such proceedings, after payment in full of all sums owing on such prior obligations, the Holders of the Subordinated
Notes, together with any obligations of the Issuer ranking on a parity with the Subordinated Notes, shall be entitled to be paid from the remaining assets of the Issuer the unpaid principal thereof and any unpaid premium (if any), interest, or other
amounts payable (if any) before any payment or other distribution, whether in cash, property, or otherwise, shall be made on account of any capital stock or any obligations of the Issuer ranking junior to the Subordinated Notes. 
 Notwithstanding any other provisions of the Subordinated Notes, including specifically those set forth in the sections relating to subordination, events
of default and covenants of the Issuer, it is expressly understood and agreed that the OCC or any receiver or conservator of the Issuer appointed by the OCC shall have the right in the performance of its legal duties, and as part of liquidation
designed to protect or further the continued existence of the Issuer or the rights of any parties or agencies with an interest in, or claim against, the Issuer or its assets, to transfer or direct the transfer of the obligations of the Subordinated
Notes to any bank or bank holding company selected by such official which shall expressly assume the obligation of the due and punctual payment of the unpaid principal, and interest and premium, if any, on the Subordinated Notes and the due and
punctual performance of all covenants and conditions; and the completion of such transfer and assumption shall serve to supersede and void any default, acceleration or subordination which may have occurred, or which may occur due to or related to
such transaction, plan, transfer or assumption, pursuant to the provisions of the Subordinated Notes, and shall serve to return the Holder to the same position, other than for substitution of the obligor, it would have occupied had no default,
acceleration or subordination occurred; except that any interest, principal or other amounts previously due, other than by reason of acceleration, 

  

 19 

 
and not paid, in the absence of a contrary agreement by the Holder of the Subordinated Notes, shall be deemed to be immediately due and payable as of the
date of such transfer and assumption, together with the interest from its original due date at the rate provided for in the Subordinated Notes. 
 SECTION 13. Deposit of Funds. The Issuer, prior to 11:00 a.m., New York City time, on each Interest Payment Date or other Payment Date, shall pay to the Issuing and Paying Agent an amount in immediately available funds sufficient to
pay all interest or other payments due on the Notes on such Interest Payment Date or other Payment Date and, prior to 11:00 a.m., New York City time, on the Stated Maturity (or any date of Optional Redemption) of any Note, shall pay to the Issuing
and Paying Agent an amount in immediately available funds sufficient to pay the principal of any such Note, and interest accrued and/or other amounts due to the Stated Maturity (or the date of Optional Redemption, as the case may be). 
 SECTION 14. Events of Default. 
 (a)
Events of Default in Relation to Senior Notes. Unless otherwise specified in the applicable Note and Pricing Supplement, the following will constitute the only “Events of Default” with respect to any Senior Notes: 
 (i) a default in the payment of any interest or other amounts payable upon such Note when due, which continues for 30 calendar days;

 (ii) a default in the payment of any principal of or premium, if any, upon such Note when due; 
 (iii) a default in the performance of any covenant or agreement of the Issuer contained in such Note which, unless otherwise specified
therein, continues for 90 calendar days; or 
 (iv) the appointment of a conservator, receiver, liquidator or similar official
for the Issuer or for all or substantially all of its property, or the taking by the Issuer of any action to seek relief under any applicable insolvency or reorganization law. 
 (b) Events of Default in Relation to Subordinated Notes. Unless otherwise specified in the applicable Pricing Supplement, the following will
constitute the only “Events of Default” with respect to any Subordinated Notes: 
 (i) a court having jurisdiction
in the premises shall enter a decree or order for relief in respect of the Issuer in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law now or hereafter in effect, or appointing a
receiver, liquidator, conservator, assignee, custodian, trustee, sequestrator, or similar official, of the Issuer or for any substantial part of its property or ordering the winding-up or liquidation of its affairs and such decree or order shall
remain unstayed and in effect for a period of 60 consecutive days; or 
  

 20 

 (ii) the Issuer shall commence a voluntary case or proceeding under any applicable
bankruptcy, insolvency, liquidation, receivership, reorganization or other similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of
or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator, or similar official, of the Issuer or for any substantial part of its property, or shall make any general assignment for the benefit of creditors, or shall
admit in writing its inability to pay its respective debts as they become due, or shall take any corporate action in furtherance of any of the foregoing. 
 Payment of principal of, the interest accrued on or other amounts then payable on, the Subordinated Notes may not be accelerated in the case of a default in the payment of principal, interest or other amounts then
payable or the performance of any other covenant of the Issuer. Payment of the principal on, the interest accrued on or other amounts then payable on, the Subordinated Notes may be accelerated only in the case of the bankruptcy or insolvency of the
Issuer. Notwithstanding anything herein to the contrary, to the extent then required under applicable capital regulations of the OCC, no payment may be made on the Subordinated Notes after an acceleration resulting from an Event of Default with
respect to the Subordinated Notes without the prior approval of the OCC. 
 (c) Issuance of Certificated Notes. If an Event of Default
with respect to a Global Note occurs, the Issuer promptly shall issue Certificated Notes in exchange for such Global Note and the remedies provided in such Global Note for any such Event of Default will be exercisable only after such exchange has
occurred, and only by the Holders of such Certificated Notes. The Holder of each such Certificated Note will itself be solely and entirely responsible for the exercise of any remedies provided therein. 
 (d) Event of Default with Respect to Certificated Notes. If an Event of Default with respect to a Certificated Note shall occur and be continuing
with respect thereto, the Holder thereof may: (i) by written notice to the Issuing and Paying Agent declare the entire outstanding principal amount thereof, together with any unpaid interest, other amounts and premium accrued thereon, to be
immediately due and payable; (ii) institute a judicial proceeding of the enforcement of the terms thereof including the collection of all sums due and unpaid thereunder, prosecute such proceeding to judgment or final decree, and enforce the
same against the Issuer and collect monies adjudged or decreed to be payable in the manner provided by law out of the property of the Issuer; and (iii) take such other action at law or in equity as may appear necessary or desirable to collect
and enforce such Certificated Note; provided, however, that in the event that such Note is an Original Issue Discount Note or an Indexed Note the principal of which is determined by reference to an index, unless otherwise specified in
such Note, the amount of principal that becomes due and payable upon such declaration shall be equal to (a) with respect to Original Issue Discount Notes, the amortized face amount as defined therein, and (b) with respect to Indexed Notes
the principal of which is determined by reference to an index, that amount specified in the relevant Note and in the Pricing Supplement; and provided further, that the Holder of a Certificated Note may waive any Event of Default that
occurs with respect thereto. 
  

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 SECTION 15. Registration; Transfer. 
 (a) The Registrar shall maintain a Register in which it shall register the names, addresses and taxpayer identification numbers of the
Holders of the Notes and shall register the transfer of Notes. 
 (b) Upon surrender for registration of transfer of any Note
to the Registrar or any Transfer Agent, the Issuer shall execute, and the Issuing and Paying Agent shall complete, authenticate and deliver, in the name of the designated transferee or transferees, one or more new Notes, of any Authorized
Denominations and having identical terms and provisions of such surrendered Note and for a like aggregate principal amount. 
 (c) At the option of the Holder of a Certificated Note, Certificated Notes may be exchanged for other Certificated Notes of any Authorized Denominations and having identical terms and provisions and for a like aggregate principal amount,
upon surrender of the Notes to be exchanged to the Registrar or any Transfer Agent. Whenever any Certificated Notes are so surrendered for exchange, the Issuer shall execute, and the Issuing and Paying Agent shall complete, authenticate and deliver,
the Certificated Notes which the Holder of the Certificated Note making the exchange is entitled to receive. 
 (d) Each new
Note issued upon presentment of any Note for registration of transfer or exchange shall be issued as of the date of its authentication. Except as provided herein or in the applicable Pricing Supplement and Note, owners of beneficial interests in a
Global Note will not receive or be entitled to receive physical delivery of Certificated Notes and will not be considered the owners or Holders thereof under this Agreement. 
 (e) Notwithstanding the foregoing, neither the Registrar or any Transfer Agent shall register the transfer of or exchange (i) any
Note that has been called for redemption in whole or in part, except the unredeemed portion of Notes being redeemed in part, (ii) any Note during the period beginning at the opening of business 15 days before the mailing of a notice of such
redemption and ending at the close of business on the date of such mailing, or (iii) any Global Note in violation of the legend contained on the face of such Global Note. 
 (f) All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations of the Issuer, evidencing the
same debt, and entitled to the same benefits as the Notes surrendered upon such registration of transfer or exchange. 
 (g)
Every Note presented or surrendered for registration of transfer or for exchange shall be duly endorsed, or be accompanied by a written instrument of transfer with such evidence of due authorization and guaranty of signature as may reasonably be
required by the Registrar or any Transfer Agent, as applicable, in form satisfactory to either of them, duly executed by the Holder thereof or his attorney duly authorized in writing. 
  

 22 

 (h) No service charge shall be made to a Holder of Notes for any transfer or exchange of
Notes, but the Issuer may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 SECTION 16. Persons Deemed Owners. Prior to due presentment of a Note for registration of transfer, the Issuer, the Issuing and Paying Agent and any agent of the Issuer or the Issuing and Paying Agent may treat
the Holder as the owner of such Note for the purpose of receiving payment of principal of, interest and premium, if any, on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and neither the Issuer, the Issuing and
Paying Agent nor any agent of the Issuer or the Issuing and Paying Agent shall be affected by notice to the contrary. 
 SECTION 17.
Mutilated, Lost, Stolen or Destroyed Notes. In case any Note shall become mutilated, destroyed, lost or stolen, and upon the satisfaction by the applicant of the requirements of this Section 17 for a substituted Note, the Issuer
shall execute, and upon its written request the Issuing and Paying Agent shall authenticate and deliver, a new Note having identical terms and provisions and having a number not contemporaneously outstanding, in exchange and substitution for the
mutilated Note or in lieu of any substitution for the Note destroyed, lost or stolen. In the case of loss, theft or destruction, the applicant for a substituted Note shall furnish to the Issuer and to the Issuing and Paying Agent such security or
indemnity as may be required by them to save each of them harmless. Such applicant shall also furnish to the Issuer and to the Issuing and Paying Agent evidence to their satisfaction of the destruction, loss or theft of such Note and of the
ownership thereof. In the case of mutilation, the applicant for a substituted Note shall surrender such mutilated Note to the Issuer or to the Issuing and Paying Agent for cancellation thereof. The Issuing and Paying Agent may authenticate any such
substituted Note and deliver the same upon the written request or authorization of any Authorized Representative. Upon the issuance of any substituted Note, the Issuer may require the payment of a sum sufficient to cover any connected expense. In
case any Note which has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Issuer, instead of issuing a substituted Note, may pay or authorize the payment of the same (without surrender thereof except in the
case of a mutilated Note) if the applicant for such payment shall furnish the Issuer and the Issuing and Paying Agent with such security or indemnity as may be required by them to save each of them harmless, and, in the case of destruction, loss or
theft, evidence to the satisfaction of the Issuer of the destruction, loss or theft of such Note and of the ownership thereof. All applications under this Section 17 shall be processed by the Issuing and Paying Agent. 
 SECTION 18. Return of Unclaimed Funds. Any money deposited with the Issuing and Paying Agent and remaining unclaimed for two years after the date
upon which the last payment of principal of or interest on any Note to which such deposit relates shall have become due and payable, shall be repaid to the Issuer by the Issuing and Paying Agent on written demand, and the Holder of any Note to which
such deposit related and entitled to receive payment thereafter shall look only to the Issuer for the payment thereof, and all liability of the Issuing and Paying Agent with respect to such money thereupon shall cease. 
  

 23 

 SECTION 19. Amendment or Supplement . The Issuer and the Issuing and Paying Agent may modify,
amend or supplement this Agreement without the consent of any Holder. In addition, the Issuer may modify, amend or supplement the terms and conditions of the Notes, without the consent of any Holder thereof: 
 (i) to evidence succession of another party to the Issuer, and such party’s assumption of the Issuer’s obligations under the Notes, upon the
occurrence of a merger or consolidation, or a transfer, sale or lease of assets, as described below; 
 (ii) to add additional covenants,
restrictions or conditions for the protection of the Holder of the Note; 
 (iii) to cure ambiguities in the Notes, or correct defects or
inconsistencies in the provisions of the Notes; 
 (iv) to reflect the replacement of the Issuing and Paying Agent or the assumption by the
Issuer or a substitute Issuing and Paying Agent of some or all of the Issuing and Paying Agent’s responsibilities under this Agreement; 
 (v) to evidence the replacement or change of address of the Depository; 
 (vi) in the case of any Notes which are extendible,
renewable, amortizing or indexed, or upon prepayment or redemption of the Notes, to reduce the principal amount of the Note to reflect the payment, prepayment or redemption of a portion of the outstanding principal amount of the Note; 
 (vii) in the case of any Notes which are extendible, renewable, amortizing or indexed, to reflect any change in the maturity date of the Note in
accordance with the terms of the Note; or 
 (viii) to reflect the issuance in exchange for the Note, in accordance with the terms thereof,
of one or more Certificated Notes. 
 However, a Note may not be modified or amended without the express written consent of the registered
Holder and, in the case of Subordinated Notes, as applicable, the OCC or other then applicable primary federal regulator, to: 
 (i) change
the Stated Maturity, except in the case of Notes which are extendible, renewable, amortizing, or indexed as provided in the Note; 
 (ii)
extend the time of payment for the premium (if any) or interest on the Note, except in the case of Notes which are extendible, renewable, amortizing or indexed as provided in the Note; 
 (iii) change the coin or currency in which the principal of, premium (if any), interest or other amounts payable (if any) on the Note is payable;

  

 24 

 (iv) reduce the principal amount of the Note or the interest rate thereon, except in the case of Notes
which are extendible, renewable, amortizing or indexed or upon prepayment or redemption as provided in the Note; 
 (v) change the method of
payment if a Note is in global form to other than wire transfer in immediately available funds; 
 (vi) impair the right of the Holder
thereof to institute suit for the enforcement of payments of principal of, premium (if any), or interest or other amounts payable (if any) on the Note; 
 (vii) change any Note’s definition of “Event of Default” or otherwise eliminate or impair any remedy available thereunder upon the occurrence of any Event of Default (as defined in such Note); or

 (viii) modify the provisions therein governing the amendment of that Note. 
 Notes authenticated and delivered after the execution of any agreement modifying, amending or supplementing this Agreement or the Notes may bear a
notation in a form approved by the Issuer as to any matter provided for in such modification, amendment or supplement to this Agreement or the Notes. New Notes so modified as to conform, in the opinion of the Issuer, to any provisions contained in
any such modification, amendment or supplement may be prepared by the Issuer, authenticated by the Issuing and Paying Agent and delivered in exchange for Outstanding Notes. 
 The Issuer may not consolidate or merge with or into any other person, or convey, transfer or lease its properties and assets substantially as an
entirety to any Person, unless (i) the surviving entity in such consolidation or merger, or the Person that acquires by conveyance or transfer, or that leases, the properties and assets of the Issuer substantially as an entirety, shall be a
bank, corporation, limited liability company or partnership organized and validly existing under the laws of the United States, any State thereof or the District of Columbia, and shall expressly assume the due and punctual payment of the principal
of, premium, if any, and interest or other amounts payable (if any) on the Notes, and the performance or observance of every provision of the Notes on the part of the Issuer to be performed or observed; and (ii) immediately after giving effect
to such transaction, no Event of Default with respect to the Issuer, and no event which, after notice or the lapse of time or both, would become an Event of Default with respect to the Issuer, shall have happened and be continuing. 
 If this Agreement is amended or modified pursuant to an agreement by the parties hereto pursuant to this Section 19, the Issuing and Paying
Agent may require, and shall be fully protected in relying upon, an opinion of counsel, which opinion may be rendered by counsel to the Issuer, stating that the execution of such amendment or modification is authorized or permitted by this
Agreement, and that such amendment or modification constitutes the legal, valid and binding obligation of the Issuer enforceable in accordance with its terms and subject to customary exceptions. 
  

 25 

 SECTION 20. Resignation or Removal of Agents; Appointment of Successors to Agents. 
 (a) Resignation or Removal of Agent. Any Agent may at any time resign as such by giving written notice to the Issuer and, except in
the case of the resignation of the Issuing and Paying Agent, to the Issuing and Paying Agent of such intention on its part, specifying the date on which its desired resignation shall become effective; provided that such date, unless otherwise agreed
by the Issuer, shall not be less than 30 days after the date on which such notice is given. 
 The Issuer may remove any Agent
with respect to Notes issued by the Issuer at any time by filing with such Agent an instrument in writing signed by or on behalf of the Issuer and specifying such removal and the date when it shall become effective. 
 The resignation or removal of an Agent with respect to Notes issued by the Issuer shall become effective on the date set forth in the
notice and shall only be effective with respect to the Issuer and Notes issued by the Issuer, except that any resignation or removal of the Issuing and Paying Agent or the Registrar shall take effect upon the Issuer’s appointment of a successor
Issuing and Paying Agent or Registrar, as the case may be, and such Agent’s acceptance of such appointment; provided, that if the Issuer has not appointed a successor Agent within 30 days after any such removal or replacement, the affected
Agent (at the expense of the Issuer) may petition any court of competent jurisdiction for the appointment of a successor Agent. 
 (b) Appointment of Successor to Agent. In case at any time the Issuing and Paying Agent or the Registrar becomes incapable of acting, or is adjudged bankrupt or insolvent, or files a petition for corporate reorganization under any
applicable federal, state, or foreign bankruptcy, insolvency or similar law or makes an assignment for the benefit of its creditors, or consents to the appointment of a receiver, custodian or other similar official of all or substantially all of its
property, or admits in writing its inability to pay or meet its debts as they mature, or if a receiver, custodian or other similar official of it or of all or substantially all of its property is appointed, or if an order of any court is entered for
relief against it under the provisions of any applicable federal, state or foreign bankruptcy, insolvency or similar law, or if any public officer takes charge or control of any such Agent, or of its property or affairs, for the purpose of
rehabilitation, conservation or liquidation, such Agent promptly shall notify the Issuer and the Issuing and Paying Agent in writing of the occurrence of such event. 
 Either (i) following receipt of notice of resignation from, (ii) upon the Issuer’s removal of, or (iii) following the
Issuer’s receipt of the notice referred to in the first paragraph of this Section 20(b) from, the Issuing and Paying Agent or the Registrar, the Issuer shall appoint a successor to such Agent by an instrument in writing filed with
the Issuing and Paying Agent (or its successor). Upon the appointment as aforesaid of a successor Issuing and Paying Agent or Registrar and acceptance by such successor of such appointment, the Issuing and Paying Agent or Registrar hereunder so
superseded shall cease to be such Issuing and Paying Agent or Registrar hereunder. 
  

 26 

 (c) Successor of Agent. Any successor Issuing and Paying Agent or Registrar
appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Issuer an instrument accepting such appointment, and thereupon such successor Issuing and Paying Agent or Registrar without any further act, deed or conveyance,
shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor, with like effect as if originally named as the Issuing and Paying Agent or Registrar hereunder. Such predecessor, upon
payment of any amount then payable to it pursuant to Section 24, shall become obligated to transfer, deliver and pay over, and such successor Issuing and Paying Agent or Registrar shall be entitled to receive, all money, securities and
other property on deposit with or held by such predecessor as the Issuing and Paying Agent or Registrar hereunder. 
 (d)
Merger, etc. of Agent. Any corporation into which any Agent hereunder may be merged, or converted, or any corporation with which any Agent may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
any Agent shall be a party, or a corporation to which any Agent shall sell or otherwise transfer all or substantially all of the assets and business of such Agent, shall be the successor to such Agent under this Agreement (provided that it shall be
qualified as aforesaid) without the execution or filing of any paper or any further act on the part of any of the parties hereto. Each Agent will advise the Issuer promptly in writing after any public announcement of a proposal by such Agent to
enter into any such transaction. 
 (e) Change in Duties of an Agent. The Issuer may vary the appointment of any Agent
other than the Issuing and Paying Agent. 
 (f) Additional Agents. The Issuer may from time to time appoint a paying
agent for one or more Notes. In the event that (i) the Issuing and Paying Agent shall be removed or resign and any successor thereto shall not be located in The City of New York or (ii) the Issuing and Paying Agent shall cease to maintain
an office in The City of New York at which amounts due on the Notes are payable, then in either such case the Issuer shall appoint a paying agent with an office in The City of New York at which such Notes may be paid. 
 SECTION 21. Reliance on Instructions. The Issuing and Paying Agent shall incur no liability to the Issuer in acting upon instructions which the
Issuing and Paying Agent believed in good faith to have been properly given by an Authorized Representative. In the event a discrepancy exists between the instructions as originally received by the Issuing and Paying Agent and any subsequent written
confirmation thereof, such original instructions will be deemed controlling, provided the Issuing and Paying Agent gives notice to the Issuer of such discrepancy promptly upon receipt of such written confirmation. 
 SECTION 22. Cancellation of Unissued Notes. Promptly upon the written request of the Issuer, the Issuing and Paying Agent shall cancel and return
to the Issuer all unissued Notes of the Issuer in its possession. 
  

 27 

 SECTION 23. Representation and Warranties of the Issuer; Instructions by Certificate. 

(a) Each instruction given to the Issuing and Paying Agent in accordance with Section 6 shall constitute a representation
and warranty to the Issuing and Paying Agent by the Issuer that the issuance and delivery of the Notes is in accordance with the terms and conditions described in the Offering Circular and the applicable Pricing Supplement, and the Notes have been
duly and validly authorized by the Issuer and, when completed, authenticated and delivered pursuant hereto, the Notes will constitute the valid and legally binding obligations of the Issuer enforceable against the Issuer in accordance with their
terms, subject to bankruptcy, insolvency, reorganization, receivership, conservatorship, moratorium or other laws relating to or affecting enforcement of creditors’ rights generally, to general equity principles or to 12 U.S.C. §
1818(b)(6)(D) (or any successor statute), 12 C.F.R. § 5.47 (or any successor regulation) and similar bank regulatory powers now or hereafter in effect. 
 (b) Any instruction given by the Issuer to the Issuing and Paying Agent under this Agreement shall be in the form of an Officer’s
Certificate or other signed letter or memorandum. Any “signed letter or memorandum” means a document signed by an Authorized Representative and delivered to the Issuing and Paying Agent. 
 SECTION 24. Fees. For their services under this Agreement, the Agents, including the Issuing and Paying Agent, may be entitled to compensation, as
shall be mutually agreed upon in writing between each such Agent and the Issuer from time to time and the Issuer agrees to reimburse the Issuing and Paying Agent for all reasonable out of pocket disbursements and advances made or incurred by the
Issuing and Paying Agent incurred without negligence, bad faith or willful misconduct. 
 SECTION 25. Notices. 
 (a) All communications by or on behalf of the Issuer relating to the completion,
delivery or payment of the Notes are to be directed to the Corporate Trust Agency Group of the Issuing and Paying Agent, 60 Wall Street, 27th Floor, Mail Stop, NYC 60-2710, New York, New York 10005, Attention: Corporate Trust and Agency Group, with a copy to Deutsche Bank National Trust Company, Global Transaction Banking, 25 DeForest Avenue, Mail Stop, 01-0105,
Summit, New Jersey 07901, Attention: Trust & Securities Services (or such other department or division as the Issuing and Paying Agent shall specify in writing to the Issuer). The Issuer will send all Notes to be completed and delivered by
the Issuing and Paying Agent to such Corporate Trust and Agency Group (or such other department or division as the Issuing and Paying Agent shall specify in writing to the Issuer). The Issuing and Paying Agent will, upon written request, advise the
Issuer from time to time of the individuals generally responsible for the administration of this Agreement. 
 (b) Notices and
other communications (except to the extent otherwise expressly provided) shall be in writing and shall be addressed as follows, or to such other address as the party receiving such notice shall have previously specified: 
  

 28 

 If to the Issuer: 
 Bank of America, N.A. 
 Bank of America Corporate Center 
 100 North Tryon Street 
 NC1-007-07-06 
 Charlotte, North Carolina 28255 
 Telephone: (704) 388-2375 
 Telecopier: (704) 386-9946 
 Attention: James T. Houghton 
 With copies to: 
 Bank of America Corporation 
 Bank of America Corporate Center 
 Legal Department, 
 NC1-002-29-01 
 101 South Tryon Street 
 Charlotte, North Carolina 28255 
 Telephone: (704) 386-1624 
 Telecopier: (704) 387-0108 
 Attention: Ellen A. Perrin, Esq. 
 and 
 Helms Mulliss & Wicker, PLLC 
 201 North Tryon Street 
 Charlotte, North Carolina 28202 
 Telephone: (704) 343-2030 
 Telecopier: (704) 343-2300 
 Attention: Boyd C. Campbell, Jr. 
 If to the Issuing and Paying Agent: 
 Deutsche Bank Trust Company Americas 
 60 Wall Street 
 27th Floor 
 Mail Stop, NYC 60-2710

 New York, New York 10005 
 Telephone: (212) 250-7910 
 Telecopier: (212) 797-8614 
 Attention: Corporate Trust and Agency Services 
  

 29 

 with copies to: 
 Deutsche Bank National Trust Company 
 Global Transaction Banking 
 25 DeForest Avenue 
 Mail Stop, 01-0105 
 Summit, New Jersey 07901 
 Telephone: (908) 608-3191 
 Telecopier: (732) 578-4635 
 Attention: Trust & Securities Services 
 and 
 Katten Muchin Zavis Rosenman 
 1025 Thomas Jefferson Street, N.W. 
 East Lobby Suite 700 
 Washington, D.C. 20007-5201 
 Telephone: (202) 625-3628 
 Telecopier: (202) 298-7570 
 Attention: Michele D. Ross, Esq. 
 SECTION 26. Information Furnished by the Issuing and Paying Agent. Upon the request of the Issuer from time to time, the Issuing and Paying Agent promptly shall provide the Issuer with information with respect to Notes issued by it
hereunder to the extent such information is reasonably available. 
 SECTION 27. Liability. The Issuing and Paying Agent (which for
purposes of this Section 27 includes its officers and employees) shall not be liable to the Issuer for any act or omission hereunder except in the case of negligence, bad faith or willful misconduct. The duties and obligations of the
Issuing and Paying Agent, its officers and employees shall be determined by the express provisions of this Agreement and they shall not be liable except for the negligent performance of such duties and obligations as are specifically set forth
herein and no implied covenants shall be read into this Agreement against them. Neither the Issuing and Paying Agent nor its officers shall be required to ascertain whether any issuance or sale of Notes (or any amendment or termination of this
Agreement) is in compliance with any other agreement to which the Issuer is a party (whether or not any of the Agents is also a party to such other agreement). 
 SECTION 28. Additional Responsibilities; Attorneys Fees. 
 (a) If the Issuer shall ask
the Issuing and Paying Agent to perform any duties not specifically set forth in this Agreement as duties of the Issuing and Paying Agent (the “Additional Responsibilities”) and the Issuing and Paying Agent chooses to perform such
Additional Responsibilities, the Issuing and Paying Agent shall be held to the same standard of care and shall be entitled to all the protective provisions (including, but not limited to, indemnification) set forth herein. 
  

 30 

 (b) In the event the Issuer shall default under any of the provisions or obligations of
this Agreement, the Notes or any amendment, supplement or modification related hereto, affecting the rights or duties of the Issuing and Paying Agent, and the Issuing and Paying Agent shall employ attorneys or incur other expenses for the
enforcement of performance or observance of any such obligation or agreement, the Issuer agrees that, in the absence of negligence, bad faith or willful misconduct on the part of the Issuing and Paying Agent, it will on demand therefore pay to the
Issuing and Paying Agent the reasonable fees of such attorneys and such other expenses incurred by the Issuing and Paying Agent. 
 SECTION
29. Transfer of Notes and Moneys. 
 (a) The Issuing and Paying Agent shall hold all Certificated Notes delivered to it
for payment solely for the benefit of the respective Holders of the Notes which shall have so delivered such Notes until moneys representing the payment for such Notes shall have been delivered to or for the account of or to the order of such
Holders. 
 (b) The Issuing and Paying Agent shall hold all moneys delivered to it pursuant to this Agreement for the payment
of Certificated Notes in trust solely for the benefit of the person or entity which shall have so delivered such moneys until such Notes shall have been delivered to or for the account of such person or entity, but such moneys need not be segregated
from other funds except to the extent required by law. 
 (c) The Issuing and Paying Agent shall only make such payments
called for under this Agreement from funds transferred to it for payment pursuant to this Agreement which funds are immediately available and on deposit in an appropriate account maintained by the Issuing and Paying Agent in The City of New York.

 (d) Under no circumstances shall the Issuing and Paying Agent be obligated to expend any of its own funds in connection
with the performance of its duties hereunder. 
 (e) The Issuing and Paying Agent may become a purchaser, Holder, transferor
or otherwise own, hold or transfer any Notes and may commence or join in any action which a Holder is entitled to take without any conflict with its responsibilities pursuant to this Agreement. 
 (f) The Issuing and Paying Agent shall not be required to invest any moneys delivered to it. 
 (g) The Issuing and Paying Agent shall have no liability for interest on any moneys received from the Issuer hereunder. 
 (h) The Issuing and Paying Agent shall not be responsible for the correctness of any recital in the Notes or in any offering materials and
makes no representations as to the validity of the Notes and shall incur no responsibility in respect thereto. 
  

 31 

 (i) The Issuing and Paying Agent shall be protected in acting upon any notice, order,
requisition, request, consent, certificate, order, opinion (including an opinion of counsel), affidavit, letter, telegram or other paper or document in good faith deemed by it to be genuine and correct and to have been signed or sent by an
Authorized Representative. 
 (j) Any action taken by the Issuing and Paying Agent pursuant to this Agreement upon the request
or authority or consent of any Person who at the time of making such request or giving such authority or consent is the Holder of any Note shall be conclusive and binding upon all future Holders of the same Note and Notes issued in exchange therefor
or in place thereof. 
 (k) In paying Notes hereunder, the Issuing and Paying Agent shall be acting as a conduit and shall not
be paying Notes for its own account, and in the absence of written notice from the Issuer to the contrary and in the absence of gross negligence, bad faith or willful misconduct of the Issuing and Paying Agent, the Issuing and Paying Agent shall be
entitled to assume that any Global Note presented to it, or deemed presented to it, for payment, is entitled to be so paid. 
 SECTION 30.
Indemnity. The Issuer covenants and agrees to indemnify the Issuing and Paying Agent (including its directors, officers, attorneys, employees and agents) for, and to hold it harmless against, any loss, liability or expense (including
reasonable attorneys fees and disbursements) incurred without negligence, bad faith or willful misconduct on its part, arising out of or in connection with this Agreement or the Administrative Procedures and/or the performance of the Issuing and
Paying Agent’s duties hereunder and the Administrative Procedures, including the reasonable costs and expenses of defending it against any claim of liability in the premises. The Issuing and Paying Agent may refuse to perform any duty or
exercise any right or power unless it receives indemnity satisfactory to it against any related loss, liability or expense. These indemnification obligations shall survive the termination of this Agreement, including any termination under state or
federal banking law or other insolvency law, to the extent enforceable under applicable law, and shall survive the resignation or removal of the Issuing and Paying Agent while remaining applicable to any action taken or omitted by the Issuing and
Paying Agent while acting pursuant to this Agreement. 
 SECTION 31. Limitation of Liability; Reliance on Opinions and Certificates.

 (a) THE ISSUING AND PAYING AGENT’S DUTIES ARE MINISTERIAL IN NATURE AND IN NO EVENT SHALL THE ISSUING AND PAYING AGENT
BE LIABLE, DIRECTLY OR INDIRECTLY, TO ANY PERSON OR ENTITY FOR ANY (i) LOSS, LIABILITY, DAMAGES OR EXPENSES (OTHER THAN, IN THE CASE OF THE ISSUER ONLY, THOSE WHICH RESULT DIRECTLY FROM THE ISSUING AND PAYING AGENT’S NEGLIGENCE, BAD FAITH
OR WILLFUL MISCONDUCT) OR (ii) SPECIAL, INCIDENTAL, INDIRECT, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOST PROFITS), EVEN IF THE ISSUING AND PAYING AGENT HAS BEEN ADVISED 

  

 32 

 
OF THE POSSIBILITY OF SUCH DAMAGES. THIS LIMITATION OF LIABILITY WILL APPLY REGARDLESS OF THE FORM OF ACTION, INCLUDING WITHOUT LIMITATION FOR BREACH OF THIS
CONTRACT OR TORT (INCLUDING NEGLIGENCE). 
 (b) The Issuing and Paying Agent shall be entitled to consult with counsel of its
choosing and shall have no liability to the Issuer in respect of an action taken or omitted by the Issuing and Paying Agent in good faith in reliance on an opinion of counsel (including in-house counsel) or an Officer’s Certificate. 

(c) Notwithstanding anything to the contrary in this Agreement, the Issuing and Paying Agent shall not be responsible for any
misconduct or negligence on the part of any agent, correspondent, attorney or receiver appointed with due care by it hereunder. 
 SECTION
32. Benefit of Agreement. This Agreement is solely for the benefit of the parties hereto and the Holders and their successors and assigns and no other person shall acquire or have any rights under or by virtue hereof. 
 SECTION 33. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York applicable to
agreements to be entered into and to be performed in such State. 
 SECTION 34. Headings and Table of Contents. The table of contents
and the section and subsection headings herein are for convenience only and shall not affect the construction hereof. 
 SECTION 35.
Counterparts. This Agreement may be signed in separate counterparts, each of which shall be deemed to be an original and all of which together shall constitute but one and the same instrument. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 33 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on their behalf by their
officers duly authorized thereunto, as of the day and year first above written. 
  

			
	BANK OF AMERICA, N.A., as Issuer
		
	By:	 	 /s/ KAREN A. GOSNELL

	Name:	 	Karen A. Gosnell
	Title:	 	Senior Vice President
	
	DEUTSCHE BANK TRUST COMPANY
	AMERICAS, as Issuing and Paying Agent
	
	By Deutsche Bank National Trust Company
		
	By:	 	 /S/ YANA KALACHIKOVA

	Name:	 	Yana Kalachikova
	Title:	 	Assistant Vice President
		
	By:	 	 /s/ RODNEY GAUGHAN

	Name:	 	Rodney Gaughan
	Title:	 	Assistant Vice President

 EXHIBIT A 
 Forms of DTC Letters of Representations 
  

 A-1 

 EXHIBIT B 
 Administrative Procedures 
  

 B-1 

 EXHIBIT C-1 
 Form of Senior Fixed Rate Note 
  

 C-1 

 EXHIBIT C-2 
 Form of Subordinated Fixed Rate Note 
  

 C-2 

 EXHIBIT D-1 
 Form of Senior Floating Rate Note 
  

 D-1 

 EXHIBIT D-2 
 Form of Subordinated Floating Rate Note 
  

 D-2 

 EXHIBIT E 
 Form of Indexed Note 
  

 E-1 

 EXHIBIT F 
 Form of Legend for Original Issue Discount Notes 
 THIS NOTE HAS BEEN ISSUED WITH “ORIGINAL ISSUE DISCOUNT” FOR
PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE ISSUE PRICE OF THIS NOTE IS $             PER $1,000 OF PRINCIPAL AMOUNT
DUE AT MATURITY; THE AMOUNT OF ORIGINAL ISSUE DISCOUNT IS $             PER $1,000 OF PRINCIPAL AMOUNT DUE AT MATURITY; THE ISSUE DATE IS
                             AND THE YIELD TO MATURITY ON THE ISSUE DATE IS
            % PER ANNUM, COMPOUNDED [SEMI-ANNUALLY]. [THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ALLOCABLE TO THE SHORT INITIAL ACCRUAL PERIOD IS
$             PER $1,000 OF PRINCIPAL AMOUNT DUE AT MATURITY; THE PRINCIPAL AMOUNT AND THE AMOUNT ALLOCABLE TO THE SHORT FINAL ACCRUAL PERIOD IS
$             PER $1,000 OF PRINCIPAL AMOUNT DUE AT MATURITY, EACH DETERMINED ON THE BASIS OF A METHOD TAKING INTO ACCOUNT DAILY COMPOUNDING.]* 

	*	Omit the last sentence in the case of Notes that are issued and mature exactly on regularly scheduled interest payment dates. 

  

 F-1 

 EXHIBIT G 
 Bank of America, N.A. 
 Authorized Representatives  
  

 G-1 

 EXHIBIT H  
 Form of Issuing and Paying Agent’s 
 Officer’s Certificate Referencing 
 Authorized Representatives  
  

 H-1Tenth Supplemental Indenture dated March 28, 2006

 Exhibit 4(bb) 
  

 TENTH SUPPLEMENTAL INDENTURE 
 between 
 BANK OF AMERICA CORPORATION 
 and 
 THE BANK OF NEW YORK 
 Dated as of March 28, 2006 
  

					
	ARTICLE 1 DEFINITIONS	  	
	 SECTION 1.1
	  	Definition of Terms	  	3
		
	ARTICLE 2 GENERAL TERMS AND CONDITIONS OF THE NOTES	  	
	 SECTION 2.1
	  	Designation and Principal Amount	  	5
	 SECTION 2.2
	  	Maturity	  	6
	 SECTION 2.3
	  	Form and Payment	  	6
	 SECTION 2.4
	  	Global Form	  	6
	 SECTION 2.5
	  	Interest	  	7
		
	ARTICLE 3 PREPAYMENT OF THE NOTES	  	
	 SECTION 3.1
	  	Special Event Prepayment	  	8
	 SECTION 3.2
	  	Optional Prepayment by Company	  	8
	 SECTION 3.3
	  	No Sinking Fund	  	9
		
	ARTICLE 4 EXTENSION OF INTEREST PAYMENT PERIOD	  	
	 SECTION 4.1
	  	Extension of Interest Payment Period	  	9
	 SECTION 4.2
	  	Notice of Extension	  	9
	 SECTION 4.3
	  	Limitation of Transactions	  	10
		
	ARTICLE 5 EXPENSES	  	
	 SECTION 5.1
	  	Payment of Expenses	  	11
	 SECTION 5.2
	  	Payment Upon Resignation or Removal	  	11
		
	ARTICLE 6 COVENANT TO LIST ON EXCHANGE	  	
	 SECTION 6.1
	  	Listing on an Exchange	  	12
		
	ARTICLE 7 FORM OF NOTE	  	
	 SECTION 7.1
	  	Form of Note	  	12
		
	ARTICLE 8 ORIGINAL ISSUE OF NOTES	  	
	 SECTION 8.1
	  	Original Issue of Notes	  	19
		
	ARTICLE 9 MISCELLANEOUS	  	
	 SECTION 9.1
	  	Ratification of Indenture	  	20
	 SECTION 9.2
	  	Trustee Not Responsible for Recitals	  	20
	 SECTION 9.3
	  	Governing Law	  	20
	 SECTION 9.4
	  	Separability	  	20
	 SECTION 9.5
	  	Counterparts	  	20

 TENTH SUPPLEMENTAL INDENTURE 
 THIS TENTH SUPPLEMENTAL INDENTURE, dated as of March 28, 2006 (the “Tenth Supplemental Indenture”), between BANK OF AMERICA CORPORATION, a
Delaware corporation (the “Company”), and THE BANK OF NEW YORK, as trustee (the “Trustee”), under a Restated Indenture dated as of November 1, 2001 between the Company and the Trustee (the “Indenture”). 

WHEREAS, the Company desires to establish, under the terms of the Indenture, a series of its
securities to be known as its 6 1/4% Junior Subordinated Notes, due 2055 (the “Notes”), the form and
substance of such Notes and the terms, provisions and conditions thereof, to be set forth as provided in the Indenture and this Tenth Supplemental Indenture; and 
 WHEREAS, under the terms of an Underwriting Agreement dated as of March 21, 2006 (the
“Underwriting Agreement”), among the Company, BAC Capital Trust X (the “Trust”) and the Underwriters named therein (the “Underwriters”), the Trust has agreed to sell to the Underwriters $900,000,000 aggregate
liquidation amount of its 6 1/4% Capital Securities (such securities being of the type referred to in the
Indenture as the “Preferred Securities” and in this Tenth Supplemental Indenture as the “Capital Securities”) and has granted the Underwriters an option to purchase up to an additional $135,000,000 aggregate liquidation amount of
Capital Securities of the Trust (the “Option”) to cover over-allotments; and 
 WHEREAS, if the Underwriters elect to
exercise the Option, the Trust has agreed pursuant to the terms of that certain Subscription Agreement dated as of March 21, 2006 between the Trust and the Company (the “Subscription Agreement”), to issue up to an additional 168,000
Common Securities with an aggregate liquidation amount of up to $4,200,000; and 
 WHEREAS, pursuant to the Subscription Agreement, the
Company has committed to purchase all of the common securities of the Trust (the “Common Securities”), which Common Securities shall represent at least 3% of the total capital of the Trust; and 
 WHEREAS, the Trust proposes to invest the gross proceeds from such offering of Capital Securities, together with the gross proceeds from the issuance and
sale by the Trust of the Common Securities, in the Notes, as a result of which the Trust will purchase initially $928,000,000 aggregate principal amount of the Notes, and may upon exercise of the Option, will purchase up to an additional
$139,200,000 aggregate principal amount of the Notes; and 
 WHEREAS, the Company has requested that the Trustee execute and deliver this
Tenth Supplemental Indenture; and 
 WHEREAS, all requirements necessary to make this Tenth Supplemental Indenture a valid instrument in
accordance with its terms and to make the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and the execution and delivery of this Tenth Supplemental
Indenture have been duly authorized in all respects. 
  

 2 

 NOW THEREFORE, in consideration of the purchase and acceptance of the Notes by the Holders thereof, and
for the purpose of setting forth, as provided in the Indenture, the form and substance of the Notes and the terms, provisions and conditions thereof, the Company covenants and agrees with the Trustee as follows: 
 ARTICLE 1 
 DEFINITIONS 
 SECTION 1.1 Definition of Terms. 
 Unless the context
otherwise requires: 
 (a) a term defined in the Indenture has the same meaning when used in this Tenth Supplemental Indenture unless
otherwise provided herein; 
 (b) a term defined anywhere in this Tenth Supplemental Indenture has the same meaning throughout; 

(c) the singular includes the plural and vice versa; 
 (d) a reference to a Section or Article is to a Section or Article of this Tenth Supplemental Indenture; 
 (e) headings are for convenience of reference only and do not affect interpretation; 
 (f) the following terms have the meanings
given to them in the Declaration: (i) Business Day; (ii) Clearing Agency; (iii) Delaware Trustee; (iv) Capital Security Certificate; (v) Depositary; (vi) Property Trustee; and (vii) Regular Trustee; 
 (g) the following terms have the meanings given to them in this Section 1.1; 
 “Additional Interest” shall have the meaning set forth in Section 2.5. 
 “Capital Treatment Event” means the reasonable determination by the Company that, as a result of the occurrence of any amendment to, or
change (including any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political subdivision thereof, or as a result of any official or administrative pronouncement or action or judicial decision
interpreting or applying such laws or regulations, which amendment or change is effective or such pronouncement, action or decision is announced on or after the date of original issuance of the Capital Securities, there is more than an insubstantial
risk that the Company will not be entitled to treat an amount equal to the aggregate liquidation amount of the Capital Securities as Tier 1 capital (or the then equivalent thereof) for purposes of the capital adequacy guidelines of the Board of
Governors of the Federal Reserve System, as then in effect and applicable to the Company. 
 “Compounded
Interest” shall have the meaning set forth in Section 4.1. 
  

 3 

 “Coupon Rate” shall have the meaning set forth in Section 2.5. 
 “Declaration” means the Amended and Restated Declaration of Trust of BAC Capital Trust X, a Delaware statutory trust, dated as of
March 21, 2006. 
 “Deferred Interest” shall have the meaning set forth in Section 4.1. 
 “Dissolution Election” means that, as a result of the election of the Company, as Sponsor, the Trust is to be dissolved in accordance
with the Declaration, and the Notes held by the Property Trustee are to be distributed to the holders of the Trust Securities issued by the Trust pro rata or in any other manner specified in the Declaration. 
 “Extended Interest Payment Period” shall have the meaning set forth in Section 4.1. 
 “Global Note” shall have the meaning set forth in Section 2.4. 
 “Holder” means any person in whose name the Notes are registered on the register kept by the Company or the Property Trustee in
accordance with the terms hereof. 
 “Interest Payment Date” shall have the meaning set forth in Section 2.5.

 “Investment Company Event” means the receipt by the Trust of an opinion of counsel experienced in such matters to the
effect that, as a result of the occurrence of a change in law or regulation or a change in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority (a “Change in 1940 Act
Law”), the Trust is or will be considered an investment company that is required to be registered under the Investment Company Act of 1940, as amended, which Change in 1940 Act Law becomes effective on or after the date of original issuance of
the Capital Securities. 
 “Maturity Date” means the date on which the Notes mature and on which the principal shall be due
and payable together with all accrued and unpaid interest thereon, including Compounded Interest and Additional Interest, if any. 
 “Maturity Repayment Price” means the price, at the Maturity Date, equal to the principal amount of, plus accrued interest on, the Notes. 
 “Non-Book-Entry Capital Securities” shall have the meaning set forth in Section 2.4. 
 “Optional Prepayment Price” means 100% of the outstanding principal amount of the Notes to be redeemed, plus any accrued and unpaid interest thereon up to, but excluding the date of such prepayment. 
 “Optional Prepayment” means prepayment prior to the Maturity Date of the Notes at the option of the Company in whole or in part at any
time on or after March 29, 2011. 
  

 4 

 “Senior Obligations” reference is made to the definition included in the Indenture. For
the avoidance of confusion, the term Senior Obligations does not include any indebtedness that by its terms is subordinated to or ranks equally with the Notes, including any such indebtedness that the Federal Reserve Board authorizes for inclusion
in Tier 1 capital, all limited to the extent that the classification of such indebtedness as ranking subordinated to or equally with the Notes is authorized under the capital rules of the Federal Reserve Board. 
 “Special Event” means a Tax Event, Capital Treatment Event or an Investment Company Event. 
 “Special Event Prepayment” means a prepayment of the Notes prior to March 29, 2011, in whole but not in part, pursuant to the
occurrence of a Special Event. 
 “Special Event Prepayment Price” means 100% of the outstanding principal amount of the
Notes, plus any accrued and unpaid interest thereon up to but excluding the date of prepayment. 
 “Tax Event” means that
(i) the Company shall have received an opinion of a nationally recognized independent tax counsel experienced in such matters to the effect that, as a result of (a) any amendment to, or change (including any announced prospective change)
in, the laws or any regulations thereunder of the United States or any political subdivision or taxing authority thereof or (b) any official administrative pronouncement or judicial decision interpreting or applying such laws or regulations,
which amendment or change is effective or such pronouncement or decision is announced on or after the date of original issuance of the Capital Securities, there is more than an insubstantial risk that interest payable on the Notes is not, or within
90 days of the date thereof, will not be deductible, in whole or in part, by the Company for United States federal income tax purposes or (ii) the Regular Trustees have been informed by a nationally recognized independent tax counsel that a No
Recognition Opinion cannot be delivered. “No Recognition Opinion” means an opinion of a nationally recognized independent tax counsel experienced in such matters, which opinion may rely on published revenue rulings of the Internal Revenue
Service, to the effect that the holders of the Capital Securities and Common Securities will not recognize any gain or loss for United States federal income tax purposes as a result of the dissolution of the Trust and the distribution of the Notes.

 ARTICLE 2 
 GENERAL TERMS AND
CONDITIONS OF THE NOTES 
 SECTION 2.1 Designation and Principal Amount. 
 There is hereby authorized and established under the terms of the Indenture a series of the
Company’s securities designated the 6 1/4% Junior Subordinated Notes, due 2055” limited in aggregate
principal amount to no more than $1,067,200,000 which amount shall be as set forth in one or more written orders of the Company for the authentication and delivery of the Notes pursuant to Section 2.04 of the Indenture including any subsequent
or supplemental written order of the Company upon exercise of the Option. 
  

 5 

 SECTION 2.2 Maturity. 
 The Maturity Date for the Notes is March 29, 2055. SECTION 2.3 Form and Payment. 
 SECTION 2.3 Form and
Payment. 
 Except as provided in Section 2.4, the Notes shall be issued in fully registered certificated form without interest
coupons. Principal and interest on the Notes issued in certificated form will be payable, the transfer of such Notes will be registrable and such Notes will be exchangeable for Notes bearing identical terms and provisions at the office or agency of
the Trustee; provided, however, that payment of interest may be made at the option of the Company by check mailed to the Holder at such address as shall appear in the Security Register. Notwithstanding the foregoing, so long as the
Holder of any Notes is the Property Trustee, the payment of the principal of and interest (including Compounded Interest and Additional Interest, if any) on such Notes held by the Property Trustee will be made at such place and to such account as
may be designated by the Property Trustee. 
 SECTION 2.4 Global Form. 
 (a) In connection with a Dissolution Election, 
 (i) the Notes in certificated form shall be presented to
the Trustee by the Property Trustee to be exchanged for one or more fully registered securities representing the aggregate principal amount of all then outstanding Notes as a Global Security to be registered in the name of the Depositary, or its
nominee (a “Global Note”), and delivered by the Trustee to the Depositary for crediting to the accounts of its participants pursuant to the instructions of the Regular Trustees. Upon any such presentation, the Company shall execute a
Global Note in such aggregate principal amount and deliver the same to the Trustee for authentication and delivery in accordance with the Indenture and this Tenth Supplemental Indenture. Payments on the Notes issued as a Global Note will be made to
the Depositary; and 
 (ii) if any Capital Securities are held in certificated form and not in book-entry form, the Notes in certificated
form may be presented to the Trustee by the Property Trustee and any Capital Security Certificate which represents Capital Securities other than Capital Securities held by the Clearing Agency or its nominee (“Non-Book-Entry Capital
Securities”) will be deemed to represent beneficial interests in Notes presented to the Trustee by the Property Trustee having an aggregate principal amount equal to the aggregate liquidation amount of the Non-Book-Entry Capital Securities
until such Capital Security Certificates are presented to the Security Registrar for transfer or reissuance, at which time such Capital Security Certificates will be canceled and a Note, registered in the name of the holder of the Capital Security
Certificate or the transferee of the holder of such Capital Security Certificate, as the case may be, with an aggregate principal amount equal to the aggregate liquidation amount of the Capital Security Certificate canceled, will be executed by the
Company and delivered to the Trustee for authentication and delivery in accordance with the Indenture and this Tenth Supplemental Indenture. On issue of such Notes, Notes with an equivalent aggregate principal amount that were presented by the
Property Trustee to the Trustee will be deemed to have been canceled. 
  

 6 

 (b) A Global Note may be transferred, in whole but not in part, only to another nominee of the
Depositary, or to a successor Depositary selected or approved by the Company or to a nominee of such successor Depositary. 
 (c) If at any
time the Depositary notifies the Company that it is unwilling or unable to continue as Depositary or if at any time the Depositary shall no longer be registered or in good standing under the Exchange Act or other applicable statute or regulation,
and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, the Company will execute, and, subject to Article 2 of the
Indenture, the Trustee, upon written notice from the Company, will authenticate and make available for delivery the Notes in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the
principal amount of the Global Note in exchange for such Global Note. In addition, the Company may at any time determine that the Notes shall no longer be represented by a Global Note. In such event the Company will execute, and subject to
Section 2.07 of the Indenture, the Trustee, upon receipt of an Officers’ Certificate evidencing such determination by the Company, will authenticate and deliver the Notes in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal amount of the Global Note in exchange for such Global Note. Upon the exchange of the Global Note for such Notes in definitive registered form without coupons, in authorized
denominations, the Global Note shall be canceled by the Trustee. Such Notes in definitive registered form issued in exchange for the Global Note shall be registered in such names and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Notes to the Depositary for delivery to the Persons in whose names such Securities are so registered. 
 SECTION 2.5 Interest. 
 (a) Each Note will bear interest at the rate of 6 1/4% per annum (the
“Coupon Rate”) from March 28, 2006 until the principal thereof becomes due and payable, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of
interest at the Coupon Rate, compounded quarterly, payable (subject to the provisions of Article 4) quarterly in arrears on March 29, June 29, September 29 and December 29 of each year (each, an “Interest Payment
Date”), beginning on June 29, 2006 (the amount payable for the initial distribution period will include an amount accrued for one extra day), to the Person in whose name such Note or any predecessor Note is registered at the close of
business on the regular record date for such interest installment, which, in respect of any Notes of which the Property Trustee is the Holder of a Global Note, shall be the close of business on the Business Day next preceding that Interest Payment
Date. Notwithstanding the foregoing sentence, if the Capital Securities are no longer in book-entry only form, the relevant record dates shall be March 14, June 14, September 14 and December 14 prior to the regular
Interest Payment Date. 
 (b) The amount of interest payable for any period will be computed on the basis of a 360-day year of twelve
30-day months. Except as provided in the following sentence, the amount of interest payable for any period shorter than a full quarter for which interest is computed, will be computed on the basis of the actual number of days elapsed in such a
30-day 
  

 7 

 period. In the event that any date on which interest is payable on the Notes is not a Business Day, then payment of
interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such
payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. 
 (c)
If, at any time while the Property Trustee is the Holder of any Notes, the Trust or the Property Trustee is required to pay any taxes, duties, assessments or governmental charges of whatever nature (other than withholding taxes) imposed by the
United States, or any other domestic taxing authority, then, in any case, the Company will pay as additional interest (“Additional Interest”) on the Notes held by the Property Trustee, such additional amounts as shall be required so that
the net amounts received and retained by the Trust and the Property Trustee after paying such taxes, duties, assessments or other governmental charges will be equal to the amounts the Trust and the Property Trustee would have received had no such
taxes, duties, assessments or other government charges been imposed. 
 ARTICLE 3 
 PREPAYMENT OF THE NOTES 
 SECTION 3.1 Special Event Prepayment. 
 If a Special Event has occurred and is continuing prior to March 29, 2011, the Company shall have the right, upon not less than 30 days’ nor
more than 60 days’ notice to the Holders of the Notes, to prepay the Notes, in whole but not in part, for cash within 90 days following the occurrence of such Special Event (the “90-Day Period”) at a prepayment price equal to the
Special Event Prepayment Price. The Special Event Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such repayment or such earlier time as the Company determines, provided that the Company shall deposit
with the Trustee an amount sufficient to pay the Special Event Prepayment Price by 10:00 a.m., New York time, on the date such Special Event Prepayment Price is to be paid. 
 SECTION 3.2 Optional Prepayment bv Company. 
 (a) Subject to the provisions of Section 3.2(b) and
to the provisions of Article 14 of the Indenture, the Company shall have the right to prepay the Notes, in whole or in part, at any time and from time to time, on or after March 29, 2011, at a redemption price equal to the Optional Prepayment
Price. Any prepayment pursuant to this paragraph will be made upon not less than 30 days’ nor more than 60 days’ notice to the Holders of the Notes. If the Notes are only partially prepaid pursuant to this Section 3.2, the Notes will
be prepaid pro rata or by lot or by any other method utilized by the Trustee; provided that if, at the time of prepayment, the Notes are registered as a Global Note, the Depositary shall determine, in accordance with its
procedures, the principal amount of such Notes held by each Holder of a Note to be prepaid. The Optional Prepayment Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company
determines provided that the Company shall deposit with the Trustee an amount sufficient to pay the Optional Prepayment Price by 10:00 a.m., New York time, on the date such Optional Prepayment Price is to be paid. 
  

 8 

 (b) If a partial prepayment of the Notes would result in the delisting of the Capital Securities issued
by the Trust from any national securities exchange or other organization on which the Capital Securities are then listed, the Company shall not be permitted to effect such partial prepayment and may only prepay the Notes in whole. 
 SECTION 3.3 No Sinking Fund. 
 The Notes are not
entitled to the benefit of any sinking fund. 
 ARTICLE 4 
 EXTENSION OF INTEREST PAYMENT PERIOD 
 SECTION 4.1 Extension of Interest Payment Period. 
 The Company shall have the right, at any time and from time to time during the term of the Notes, to defer payments of interest by extending the interest
payment period of such Notes for a period not exceeding 20 consecutive quarters (the “Extended Interest Payment Period”), during which Extended Interest Payment Period no interest shall be due and payable; provided that no
Extended Interest Payment Period may extend beyond the Maturity Date. To the extent permitted by applicable law, interest, the payment of which has been deferred because of the extension of the interest payment period pursuant to this
Section 4.1, will bear interest thereon at the Coupon Rate compounded quarterly for each quarter of the Extended Interest Payment Period (“Compounded Interest”). At the end of the Extended Interest Payment Period, the Company shall
pay all interest accrued and unpaid on the Notes, including any Additional Interest and Compounded Interest (together, “Deferred Interest”) that shall be payable to the Holders of the Notes in whose names the Notes are registered in the
Security Register on the first record date after the end of the Extended Interest Payment Period. Before the termination of any Extended Interest Payment Period, the Company may further extend such period, provided that such period together with all
such previous and further extensions thereof shall not exceed 20 consecutive quarters, or extend beyond the Maturity Date of the Notes. Upon the termination of any Extended Interest Payment Period and upon the payment of all Deferred Interest then
due, the Company may commence a new Extended Interest Payment Period, subject to the foregoing requirements. No interest shall be due and payable during an Extended Interest Payment Period, except at the end thereof, but the Company may prepay at
any time all or any portion of the interest accrued during an Extended Interest Payment Period. 
 SECTION 4.2 Notice of Extension. 
 (a) If the Property Trustee is the only registered Holder of the Notes at the time the Company selects an Extended Interest Payment Period, the Company
shall give written notice to the Regular Trustees, the Property Trustee and the Trustee of its selection of such Extended Interest Payment Period at least one Business Day before the earlier of (i) the next succeeding date on which
Distributions on the Trust Securities issued by the Trust are payable, 
  

 9 

 or (ii) the date on which the Trust is required to give notice of the record date, or the date on which such
Distributions are payable, to the New York Stock Exchange or any other exchange upon which the Notes or Trust Securities are listed or any other applicable self-regulatory organization or to holders of the Capital Securities issued by the Trust, but
in any event at least one Business Day before such record date (however, in no event shall notice be required more than 15 Business Days prior to an Interest Payment Date). 
 (b) If the Property Trustee is not the only Holder of the Notes at the time the Company selects an Extended Interest Payment Period, the Company shall
give the Holders of the Notes and the Trustee written notice of its selection of such Extended Interest Payment Period at least 10 Business Days before the earlier of (i) the next succeeding Interest Payment Date, or (ii) the date the
Company is required to give notice of the record or payment date of such interest payment to the New York Stock Exchange or any other exchange upon which the Notes or Trust Securities are listed or any other applicable self-regulatory organization
or to Holders of the Notes (however, in no event shall notice be required more than 15 Business Days prior to an Interest Payment Date). 
 (c) The quarter in which any notice is given pursuant to paragraphs (a) or (b) of this Section 4.2 shall be counted as one of the 20 quarters permitted in computing the maximum Extended Interest Payment Period permitted under
Section 4.1. 
 SECTION 4.3 Limitation of Transactions. 
 If (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1 and such Extended Interest Payment Period is continuing, or (ii) there shall have occurred and be
continuing any Event of Default or Nonpayment, as defined in the Indenture, then (a) the Company shall not declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with
respect to, any of its capital stock (other than (i) purchases or acquisitions of shares of its common stock in connection with the satisfaction by the Company of its obligations under any employee benefit plans, (ii) as a result of a
reclassification of its capital stock or the exchange or conversion of one class or series of Company capital stock for another class or series of its capital stock or (iii) the purchase of fractional interests in shares of its capital stock
pursuant to an acquisition or the conversion or exchange provisions of such capital stock or security being converted or exchanged) or make any guarantee payment with respect thereto and (b) the Company shall not make any payment of interest,
principal or premium, if any, on or repay, repurchase or redeem any debt securities (including guarantees) issued by the Company which rank pari passu with or junior to the Notes. 
  

 10 

 ARTICLE 5 
 EXPENSES 
 SECTION 5.1 Payment of Expenses. 
 In connection with the offering, sale and issuance of the Notes to the Property Trustee and in connection with the sale of the Trust Securities by the
Trust, the Company, in its capacity as borrower with respect to the Notes, shall: 
 (a) pay all costs and expenses relating to the offering,
sale and issuance of the Notes, including commissions to the underwriters payable pursuant to the Underwriting Agreement, the compensation of the Trustee under the Indenture in accordance with the provisions of Section 6.06 of the Indenture and
the issuance of additional Notes and Trust Securities upon exercise of the Option; 
 (b) pay all costs and expenses of the Trust (including,
but not limited to, costs and expenses relating to the organization, maintenance and dissolution of the Trust, the offering, sale and issuance of the Trust Securities (including commissions to the underwriters payable pursuant to the Underwriting
Agreement), the fees and expenses of the Property Trustee and the Delaware Trustee, the costs and expenses relating to the operation of the Trust, including without limitation, costs and expenses of accountants, attorneys, statistical or bookkeeping
services, expenses for printing and engraving and computing or accounting equipment, paying agent(s), registrar(s), transfer agent(s), duplicating, travel and telephone and other telecommunications expenses and costs and expenses incurred in
connection with the acquisition, financing, and disposition of Trust assets); 
 (c) be primarily and fully liable for any indemnification
obligations arising with respect to the Declaration; and 
 (d) pay any and all taxes (other than United States withholding taxes
attributable to the Trust or its assets) and all liabilities, costs and expenses with respect to such taxes of the Trust. 
 SECTION 5.2 Payment Upon
Resignation or Removal. 
 Upon termination of this Tenth Supplemental Indenture or the Indenture or the removal or resignation of the
Trustee, unless otherwise stated, the Company shall pay to the Trustee all amounts accrued to the date of such termination, removal or resignation. Upon termination of the Declaration or the removal or resignation of the Delaware Trustee or the
Property Trustee, as the case may be, pursuant to Section 5.7 of the Declaration, the Company shall pay to the Delaware Trustee or the Property Trustee, as the case may be, all amounts accrued to the date of such termination, removal or
resignation. 
  

 11 

 ARTICLE 6 
 COVENANT TO LIST ON EXCHANGE 
 SECTION 6.1 Listing on an Exchange. 
 If the Notes are to be issued as a Global Note in connection with the distribution of the Notes to the holders of the Capital Securities upon a
Dissolution Election, the Company will use its best efforts to list such Notes on any stock exchanges on which the Capital Securities are then listed. 
 ARTICLE 7 
 FORM OF NOTE 
 SECTION 7.1 Form of Note. 
 The Notes and the Trustee’s Certificate of Authentication to be endorsed thereon are to be
substantially in the following forms: 
  

 12 

 (FORM OF FACE OF NOTE) 
 [IF THE NOTE IS TO BE A GLOBAL NOTE, INSERT - This Note is a Global Note within the meaning of the Indenture hereinafter referred to and is registered in the name of The Bank of New York, as Property Trustee of BAC
Capital Trust X (the “Trust”). This Note is exchangeable for Notes registered in the name of a person other than The Bank of New York, as Property Trustee of BAC Capital Trust X, or its nominee only in the limited circumstances described
in the Indenture, and no transfer of this Note may be registered except in limited circumstances.] 
 Unless this Note is presented by an
authorized representative of The Depository Trust Company, New York (“DTC”) to the issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of CEDE & CO. or such other
name as requested by an authorized representative of DTC (and any payment hereon is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY A PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 
 THIS NOTE IS NOT A SAVINGS ACCOUNT OR A
BANK DEPOSIT, IS NOT AN OBLIGATION OF OR GUARANTEED BY ANY BANKING AFFILIATE OF BANK OF AMERICA CORPORATION AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY AND INVOLVES INVESTMENT RISKS, INCLUDING
POSSIBLE LOSS OF PRINCIPAL. 
  

					
	$            	 		  	CUSIP No. 060505CD4
		 		  	ISIN No. US060505CD49

 No. X-R-     
 BANK OF AMERICA CORPORATION 
 6 1/4% JUNIOR SUBORDINATED NOTES, 
 DUE 2055 
 BANK OF AMERICA
CORPORATION, a Delaware corporation (the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to THE BANK OF NEW YORK, AS PROPERTY TRUSTEE OF BAC
CAPITAL TRUST X, or registered assigns, the principal sum of
                                     DOLLARS
($            .00) on March 29, 2055 (the “Maturity Date”), and to pay interest on said principal sum from March 28, 2006 or from the most recent interest payment
date (each such date, an “Interest Payment Date”) to which interest has been paid or duly provided for, quarterly (subject to deferral as set forth herein) in arrears on March 29, June 29, September 29 and
December 29 of each year beginning June 29, 2006 (the amount payable for the initial distribution period will include an amount accrued for one extra day), at the rate of 6 1/4% per annum until the principal hereof shall have become due and payable, and on any overdue principal and premium, if any, and (without duplication
and to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum compounded quarterly. The amount of interest payable on any Interest Payment Date shall be
computed on the basis of a 360-day year of twelve 30-day 
  

 13 

 months. In the event that any date on which interest is payable on this Note is not a Business Day, then payment of
interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such
payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will,
as provided in the Indenture, be paid to the person in whose name this Note (or one or more Predecessor Securities, as defined in the Indenture) is registered at the close of business on the regular record date for such interest installment, which
shall be the close of business on the business day next preceding such Interest Payment Date. IF PURSUANT TO THE PROVISIONS OF THE INDENTURE THE NOTES ARE NO LONGER REPRESENTED BY A GLOBAL NOTE, the record date shall be the close of business on the
March 14, June 14, September 14 and December 14 prior to such payment dates. Any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such regular record date and may be
paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a special record date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall be given
to the registered Holders of this series of Notes not less than 10 days prior to such special record date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may
be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. The principal of (and premium, if any) and the interest on this Note shall be payable at the office or agency of the Trustee maintained
for that purpose in any coin or currency of the United States of America that at the time of payment is legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the
Company by check mailed to the registered Holder at such address as shall appear in the Security Register. Notwithstanding the foregoing, so long as the Holder of this Note is the Property Trustee, the payment of the principal of (and premium, if
any) and interest on this Note will be made at such place and to such account as may be designated by the Property Trustee. As used herein, the term “Business Day” shall mean any day other than a day on which federal or state banking
institutions in New York, New York, or Charlotte, North Carolina, are authorized or obligated by law, executive order or regulation to close. 
 The indebtedness evidenced by this Note is, to the extent provided in the Indenture, subordinate and junior in right of payment to the prior payment in full of all Senior Obligations (as defined in the Indenture and the Tenth Supplemental
Indenture) and this Note is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Note, by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the
Trustee on his or her behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder
hereof, by his or her acceptance hereof, hereby waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Obligations, whether now outstanding or hereafter incurred, and waives
reliance by each such holder upon said provisions. 
  

 14 

 This Note shall not be entitled to any benefit under the Indenture hereinafter referred to, be valid or
become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee. 
 The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be executed in its name by its duly authorized officers. 
  

					
	Date: March 28, 2006	 	BANK OF AMERICA CORPORATION
			
		 	By:	 	 /s/ Karen A. Gosnell

		 	Name:	 	Karen A. Gosnell
	[Seal]	 	Title:	 	Senior Vice President

  

			
	Attest:	 	
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 15 

 (FORM OF CERTIFICATE OF AUTHENTICATION) 
 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated
therein referred to in the within-mentioned Indenture. 
 Dated: March 28, 2006 
  

			
	 The Bank of New York,
 as
Trustee

		
	By:	 	  

		 	Authorized Signatory

  

 16 

 (FORM OF REVERSE OF NOTE) 
 This Note is one of a duly authorized series of Notes of the Company (herein sometimes referred to as the “Notes”), specified in the Indenture, all issued or to be issued in one or more series under and
pursuant to an Indenture dated as of November 1, 2001, duly executed and delivered between the Company and The Bank of New York, as Trustee (the “Trustee”), as supplemented by the Tenth Supplemental Indenture dated as of
March 28, 2006 (the “Tenth Supplemental Indenture”), between the Company and the Trustee (the Indenture as so supplemented, the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby
made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes. By the terms of the Indenture, the Notes are issuable in series that may vary as to
amount, date of maturity, rate of interest and in other respects as provided in the Indenture. This series of Notes is limited in aggregate principal amount as specified in the Tenth Supplemental Indenture. 
 Because of the occurrence and continuation of a Special Event, as defined in the Indenture, in certain circumstances, this Note may become due and
payable at a prepayment price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest thereon up to but excluding the date of prepayment (the “Special Event Prepayment Price”). The Special Event Prepayment
Price shall be paid prior to 12:00 noon, New York time, on the date of such prepayment or at such earlier time as the Company determines. In addition, the Company shall have the right to prepay this Note at the option of the Company, in whole or in
part at any time on or after March 29, 2011 (an “Optional Prepayment”), or at any time in certain circumstances upon the occurrence of a Special Event, at a redemption price equal to 100% of the outstanding principal amount of the
Junior Subordinated Notes, plus any accrued and unpaid interest thereon up to but excluding the date of prepayment (the “Optional Prepayment Price”). Any prepayment pursuant to this paragraph will be made upon not less than 30 days’
nor more than 60 days’ notice, at the Optional Prepayment Price. If the Notes are only partially prepaid by the Company pursuant to an Optional Prepayment, the Notes will be prepaid pro rata or by lot or by any other method
utilized by the Trustee; provided that if, at the time of prepayment, the Notes are registered as a Global Note, the Depositary shall determine the principal amount of such Notes held by each Note holder to be prepaid in accordance
with its procedures. 
 In the event of prepayment of this Note in part only, a new Note or Notes of this series for the portion hereof not
prepaid will be issued in the name of the Holder hereof upon the cancellation hereof. 
 In case an Event of Default, as defined in the
Indenture, shall have occurred and be continuing, the principal of all of the Notes may be declared, and upon such declaration shall become, due and payable in the manner, with the effect and subject to the conditions provided in the Indenture.

 The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes of each series affected at the time outstanding, as defined in the Indenture, to execute 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 
  

 17 

 manner the rights of the Holders of the Notes; provided, however, that no such supplemental indenture shall
(i) reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any premium payable upon the redemption thereof, without the consent of the Holder of each Note so affected, or
(ii) reduce the aforesaid percentage of Notes, the Holders of which are required to consent to any such supplemental indenture, without the consent of the Holders of each Note then outstanding and affected thereby. The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount of the Notes of any series at the time outstanding affected thereby, on behalf of all of the Holders of the Notes of such series, to waive any past default in the
performance of any of the covenants contained in the Indenture, or established pursuant to the Indenture with respect to such series, and its consequences. Any such consent or waiver by the registered Holder of this Note (unless revoked as provided
in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and owners of this Note and of any Note issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of
whether or not any notation of such consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of
this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this Note at the time and place and at the rate and in the money
herein prescribed. 
 The Company shall have the right at any time during the term of the Notes and from time to time to defer payment of
interest by extending the interest payment period of such Notes for a period not exceeding 20 consecutive quarters (an “Extended Interest Payment Period”), at the end of which period the Company shall pay all interest then accrued and
unpaid (together with interest thereon at the rate specified for the Notes to the extent that payment of such interest is enforceable under applicable law); provided that no Extended Interest Payment Period may last beyond the Maturity
Date of the Notes. Before the termination of any such Extended Interest Payment Period, the Company may further extend such Extended Interest Payment Period, provided that such Extended Interest Payment Period together with all such
further extensions thereof shall not exceed 20 consecutive quarters or extend the Maturity Date of the Notes. At the termination of any such Extended Interest Payment Period and upon the payment of all accrued and unpaid interest and any additional
amounts then due, the Company may commence a new Extended Interest Payment Period, subject to the requirements contained in this paragraph. 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable by the registered Holder hereof on the Security Register of the Company, upon surrender of this Note for registration of transfer
at the office or agency of the Trustee in the City and State of New York accompanied by a written instrument or instruments of transfer in form satisfactory to the Company or the Trustee duly executed by the registered Holder hereof or his attorney
duly authorized in writing, and thereupon one or more new Notes of authorized denominations and for the same aggregate principal amount and series will be issued to the designated transferee or transferees. No service charge will be made for any
such transfer, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 
  

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 Prior to due presentment for registration of transfer of this Note, the Company, the Trustee, any paying
agent and the Security Registrar may deem and treat the registered holder hereof as the absolute owner hereof (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing hereon made by anyone other than the
Security Registrar) for the purpose of receiving payment of or on account of the principal hereof and premium, if any, and interest due hereon and for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Security
Registrar shall be affected by any notice to the contrary. 
 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, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor
or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the
issuance hereof, expressly waived and released. 
 This Global Note is exchangeable for Notes in definitive form only under certain limited
circumstances set forth in the Indenture. Notes of this series so issued are issuable only in registered form without coupons in denominations of $25 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations
herein and therein set forth, Notes of this series so issued are exchangeable for a like aggregate principal amount of Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same. 
 All terms used in this Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THE NOTES WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF. 
 ARTICLE 8 
 ORIGINAL ISSUE OF NOTES 

SECTION 8.1 Original Issue of Notes. 
 Notes in the
aggregate principal amount of up to $1,067,200,000 may, upon execution of this Tenth Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said
Notes to or upon the written order of the Company, signed by any Authorized Officer, as defined in the Indenture, without any further action by the Company. 
  

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 ARTICLE 9 
 MISCELLANEOUS 
 SECTION 9.1 Ratification of Indenture. 
 The Indenture, as supplemented by this Tenth Supplemental Indenture, is in all respects ratified and confirmed, and this Tenth Supplemental Indenture
shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. 
 SECTION 9.2 Trustee Not Responsible for
Recitals. 
 The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for
the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Tenth Supplemental Indenture. 
 SECTION 9.3
Governing Law. 
 This Tenth Supplemental Indenture and each Note shall be deemed to be a contract made under the internal laws of the
State of New York, and for all purposes shall be construed in accordance with the laws of said State. 
 SECTION 9.4 Separability. 
 In case any one or more of the provisions contained in this Tenth Supplemental Indenture or in the Notes shall for any reason be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Tenth Supplemental Indenture or of the Notes, but this Tenth Supplemental Indenture and the Notes shall be
construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 9.5 Counterparts.

 This Tenth Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts
shall together constitute but one and the same instrument. 
 [Signature Page Follows] 
  

 20 

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

			
	BANK OF AMERICA CORPORATION
		
	By:	 	 /s/ Karen A. Gosnell

	Name:	 	Karen A. Gosnell
	Title:	 	Senior Vice President

  

			
	 THE BANK OF NEW YORK
 as
Trustee

		
	By:	 	 /s/ Van K. Brown

	Name:	 	Van K. Brown
	Title:	 	Vice President

  

 21 

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

			
	BANK OF AMERICA CORPORATION
		
	By:	 	 /s/ Karen A. Gosnell

	Name:	 	Karen A. Gosnell
	Title:	 	Senior Vice President
	
	 THE BANK OF NEW YORK
 as
Trustee

		
	By:	 	 /s/ Van K. Brown

	Name:	 	Van K. Brown
	Title:	 	Vice President

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