Document:

<PAGE>
                                                                Exhibit 10(y)(3)

                               THIRD AMENDMENT TO

                           REVOLVING CREDIT, TERM LOAN

                                       AND

                               SECURITY AGREEMENT

                                  BY AND AMONG

                         PNC BANK, NATIONAL ASSOCIATION
              (AS LENDER, ADMINISTRATIVE AGENT AND LEAD ARRANGER),

                               JPMORGAN CHASE BANK
                       (AS LENDER AND SYNDICATION AGENT),

                                  THE LENDERS,

                                       AND

                                  LESCO, INC.;
                              LESCO SERVICES, INC.;
                            LESCO TECHNOLOGIES, LLC;
                                       AND
                        AIM LAWN & GARDEN PRODUCTS, INC.;
                                   (BORROWERS)

                                  July 26, 2002
<PAGE>
                      THIRD AMENDMENT TO REVOLVING CREDIT,
                        TERM LOAN AND SECURITY AGREEMENT

      THIS THIRD AMENDMENT TO REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT
(the "Amendment") dated as of July 26, 2002, by and among LESCO, INC., a
corporation organized under the laws of the State of Ohio ("LESCO"), LESCO
SERVICES, INC., a corporation organized under the laws of the State of Ohio
("LSI"), LESCO TECHNOLOGIES, LLC, a limited liability company organized under
the laws of the State of Nevada ("Technologies"), and AIM LAWN & GARDEN
PRODUCTS, INC., a corporation organized under the laws of the State of Ohio
("AIM"), each a "Borrower" and collectively "Borrowers"), the financial
institutions which are a party hereto (collectively, the "Lenders" and
individually a "Lender"), PNC BANK, NATIONAL ASSOCIATION ("PNC"), as
administrative agent for Lenders (PNC, in such capacity, the "Agent"), and
JPMORGAN CHASE BANK ("JPMorgan Chase"), as syndication agent for the Lenders
(JPMorgan Chase, in such capacity, the "Syndication Agent").

                                   WITNESSETH:

      WHEREAS, the Borrowers, the Lenders, the Agent and the Syndication Agent
are parties to that certain Revolving Credit, Term Loan and Security Agreement
dated as of January 14, 2002, as amended by a First Amendment thereto dated as
of February 7, 2002, as further amended by a Second Amendment thereto dated as
of February 25, 2002 (collectively, the "Agreement").

      WHEREAS, the parties hereto desire to amend the terms of the Agreement as
provided for herein.

      NOW, THEREFORE, the parties hereto, in consideration of their mutual
covenants and agreements hereinafter set forth and intending to be legally bound
hereby, covenant and agree as follows:

      1.    Definitions.

      (a)   Except as otherwise amended by this Amendment, defined terms used
herein shall have the meanings given to them in the Agreement.

      (b)   The following definition in Section 1.2 of the Agreement is hereby
amended and restated as follows:

            "Earnings Before Interest and Taxes" shall mean for any period the
sum of (i) net income (or loss) of Borrowers on a consolidated basis for such
period (excluding extraordinary gains and losses AND CUMULATIVE EFFECT OF
ACCOUNTING CHANGE), plus (ii) all interest expense of Borrowers on a
consolidated basis for such period, plus (iii) all charges against income of
Borrowers on a consolidated basis for such period for federal, state and local
taxes.

      (c)   The following new definition is hereby inserted in Section 1.2 of
the Agreement in alphabetical order:
<PAGE>
            "LESCO Restructuring Charges" shall mean for the six months ended
June 30, 2002 either (i) reductions made by the Borrowers on the Borrowers'
books and records with respect to the book value of certain assets, or (ii)
charges incurred by the Borrower in connection with certain management and asset
restructuring of the Borrowers, provided however, such amounts do not exceed
either $23,351,000 in the aggregate, or the amounts set forth below for the
enumerated items:

<TABLE>
<S>                                                   <C>
      reductions in value of inventory                  $9,608,000
      reductions in value of  fixed assets               7,266,000
      reduction in value of intangibles                  1,952,000
      provision for continuing lease
          obligations on closed plants                   1,253,000
      employee severance and related costs
           (including $2,000,000 incurred to date)       2,410,000
      other miscellaneous restructuring costs              862,000
                                                      ------------

      Total                                            $23,351,000
</TABLE>

      2.    Subsection 5.5(c) of the Agreement is hereby amended and restated in
its entirety as follows:

            "(c)  The consolidated and consolidating balance sheets of the
Borrowers, their Subsidiaries and such other Persons described therein
(including the accounts of all Subsidiaries for the respective periods during
which a subsidiary relationship existed) as of December 31, 2000, and the
related statements of income, changes in stockholder's equity, and changes in
cash flow for the period ended on such date, THE CONSOLIDATED BALANCE SHEET AND
CONSOLIDATED STATEMENTS being accompanied by reports thereon containing opinions
without qualification by independent certified public accountants, copies of
which have been delivered to Agent, have been prepared in accordance with GAAP,
consistently applied (except for changes in application in which such
accountants concur and present fairly the financial position of the Borrowers at
such date and the results of their operations for such period. Except as set
forth in the Projections, since September 30, 2001, there has been no change in
the condition, financial or otherwise, of Borrowers as shown on the consolidated
balance sheet as of such date and no change in the aggregate value of machinery,
equipment and Real Property owned by Borrowers, except changes in the ordinary
course of business, none of which individually or in the aggregate has been
materially adverse."

      3.    Section 6.5 of the Agreement is hereby amended and restated in its
entirety as follows:

      "6.5. Net Worth. Commencing on JUNE 30, 2002, and at all times thereafter,
Borrowers on a consolidated basis shall maintain a Net Worth in an amount not
less than $70,000,000. Commencing on DECEMBER 31, 2002, and on the last day of
each fiscal year thereafter, the minimum Net Worth requirement set forth above
shall be increased by an amount

                                      -2-
<PAGE>
equal to fifty percent (50%) of consolidated net income of Borrowers on a
consolidated basis for each such fiscal year in which net income was earned (as
opposed to a net loss)."

      4.    Section 6.6 of the Agreement is hereby amended and restated in its
entirety as follows:

      "6.6. Fixed Charge Coverage Ratio. Commencing with the fiscal quarter
ending June 30, 2002, and at the end of each fiscal quarter thereafter,
Borrowers on a consolidated basis shall maintain a Fixed Charge Coverage Ratio,
as calculated at the end of each fiscal quarter for the four fiscal quarters
then ended, of not less than 1.05 to 1.00. IN DETERMINING EARNINGS BEFORE
INTEREST AND TAXES, EBITDA, PROVISION FOR INCOME TAXES AND FIXED CHARGES FOR
PURPOSES OF CALCULATING THE FIXED CHARGE COVERAGE RATIO, THE LESCO RESTRUCTURING
CHARGES, TO THE EXTENT THEY ARE INCLUDED IN THE DETERMINATION OF EARNINGS BEFORE
INTEREST AND TAXES, EBITDA, PROVISION FOR INCOME TAXES AND FIXED CHARGES, SHALL
BE INCLUDED IN THE FISCAL QUARTER WHEN THE BORROWERS RECEIVE THE CASH INCOME OR
PAY THE CASH EXPENDITURE FOR SUCH ITEMS, RATHER THAN WHEN SUCH ITEMS ARE
RECORDED ON THE BOOKS AND RECORDS OF THE BORROWERS. THE LESCO RESTRUCTURING
CHARGES WILL NOT BE INCLUDED IN CALCULATING THE FIXED CHARGE COVERAGE RATIO FOR
THE FISCAL QUARTER ENDING JUNE 30, 2002."

      5.    Section 7.5 of the Agreement is hereby amended and restated in its
entirety as follows:

      "7.5. Loans. Make advances, loans or extensions of credit to any Person,
including without limitation, any Parent, Subsidiary or Affiliate except (i)
with respect to the extension of commercial trade credit in connection with the
sale of Inventory in the ordinary course of its business, AND (ii) LOANS BY LSI
AND TECHNOLOGIES TO LESCO."

      6.    Section 7.6 of the Agreement is hereby amended and restated in its
entirety as follows:

      "7.6. Capital Expenditures. Contract for, purchase or make any expenditure
or commitments for fixed or capital assets (including capitalized leases) which
in an aggregate amount for all Borrowers would exceed the following amounts in
any of the following fiscal years of the Borrowers:

<TABLE>
<CAPTION>
           Fiscal year ended December 31         Maximum capital expenditures
           -----------------------------         ----------------------------
<S>                                              <C>
                      2002                              $   7,000,000
                      2003                              $  15,000,000
                      2004                              $  11,000,000"
</TABLE>

      7.    Section 7.7 of the Agreement is hereby amended and restated in its
entirety as follows:

      "7.7. Dividends. Except for (i) non-cash dividends made in accordance with
the terms of any Borrower's incentive compensation plans, or (ii) DIVIDENDS MADE
BY LSI AND TECHNOLOGIES TO LESCO, declare, pay or make any dividend or
distribution on any shares of the

                                      -3-
<PAGE>
common stock or preferred stock of any Borrower (other than dividends or
distributions payable in its stock, or split-ups or reclassifications of its
stock) or apply any of its funds, property or assets to the purchase, redemption
or other retirement of any common or preferred stock, or of any options to
purchase or acquire any such shares of common or preferred stock of any Borrower
except that so long as (a) a notice of termination with regard to this Agreement
shall not be outstanding, (b) no Event of Default or Default shall have
occurred, and (c) the purpose for such purchase, redemption or dividend shall be
as set forth in writing to Agent at least ten (10) days prior to such purchase,
redemption or dividend and such purchase, redemption or dividend shall in fact
be used for such purpose, Borrowers shall be permitted to pay dividends in
accordance with the provisions of each Borrower's Certificate of Incorporation
as in effect on the Closing Date, to any Borrower, provided, however, that after
giving effect to the payment of such dividends there shall not exist any Event
of Default or Default."

      8.    Section 7.8 of the Agreement is hereby amended and restated in its
entirety as follows:

      "7.8. Indebtedness. Create, incur, assume or suffer to exist any
Indebtedness (exclusive of trade debt) except in respect of (i) Indebtedness to
Lenders; (ii) Indebtedness incurred for capital expenditures permitted under
Section 7.6 hereof; (iii) Indebtedness set forth on Schedule 7.8; (iv)
INDEBTEDNESS OF LESCO TO LSI AND TECHNOLOGIES, and (v) other unsecured
Indebtedness not in excess of $5,000,000 at any one time outstanding."

      9.    Section 7.11 of the Agreement is hereby amended and restated in its
entirety as follows:

      "7.11 Leases. Enter as lessee into any lease arrangement for real or
personal property (unless capitalized and permitted under Section 7.6 hereof) if
after giving effect thereto, aggregate annual rental payments for all leased
property in the aggregate for all the Borrowers would exceed (i) $24,000,000 in
the fiscal year ended December 31, 2002, (ii) $25,000,000 in the fiscal year
ended December 31, 2003, or (iii) $26,000,000 in the fiscal year ended December
31, 2004."

      10.   Section 9.7 of the Agreement is hereby amended and restated in its
entirety as follows:

      "9.7. Annual Financial Statements. Furnish Agent within ninety (90) days
after the end of each fiscal year of Borrowers, financial statements of
Borrowers on a consolidating and consolidated basis including, but not limited
to, statements of income and stockholders' equity and cash flow from the
beginning of the current fiscal year to the end of such fiscal year and the
balance sheet as at the end of such fiscal year, all prepared in accordance with
GAAP applied on a basis consistent with prior practices, and in reasonable
detail and, WITH RESPECT TO THE CONSOLIDATED BALANCE SHEET AND CONSOLIDATED
STATEMENTS, reported upon without qualification by an independent certified
public accounting firm selected by Borrowers and reasonably satisfactory to
Agent (the "Accountants"). The report of the Accountants shall be accompanied by
a statement of the Accountants certifying that (i) they have caused the Loan
Agreement to be reviewed, (ii) in making the examination upon which such report
was based either no information came to their attention which to their knowledge
constituted an Event of Default or a

                                      -4-
<PAGE>
Default under this Agreement or any related agreement or, if such information
came to their attention, specifying any such Default or Event of Default, its
nature, when it occurred and whether it is continuing, and such report shall
contain or have appended thereto calculations which set forth Borrowers'
compliance with the requirements or restrictions imposed by Sections 6.5, 6.6,
6.7, 7.6 and 7.11 hereof. In addition, the reports shall be accompanied by a
certificate of each Borrower's Chief Financial Officer which shall state that,
based on an examination sufficient to permit him to make an informed statement,
no Default or Event of Default exists, or, if such is not the case, specifying
such Default or Event of Default, its nature, when it occurred, whether it is
continuing and the steps being taken by such Borrower with respect to such
event, and such certificate shall have appended thereto calculations which set
forth Borrowers' compliance with the requirements or restrictions imposed by
Sections 6.5, 6.6, 6.7, 7.6 and 7.11 hereof."

      11.   Amendment Fee. The Borrowers shall pay or cause to be paid (i) to
the Agent for the account of each Lender which has executed and delivered to the
Agent this Amendment on or before 5:00 p.m. Pittsburgh time on July 26, 2002, a
fee (the "Amendment Fee") in the amount of $243,712, payable to each such Lender
ratably based upon its Commitment Percentage and the Commitment Percentages of
all the Lenders which execute and deliver this Amendment in the time period
provided above, and (ii) all other costs and expenses accrued through the date
hereof and the costs and expenses of the Agent including, without limitation,
reasonable fees of the Agent's counsel in connection with this Amendment.

      12.   Force and Effect. Each Lender and each Borrower reconfirms and
ratifies the Agreement and all Other Documents executed in connection therewith
except to the extent any such documents are expressly modified by this
Amendment, and each Borrower confirms that all such documents have remained in
full force and effect since the date of their execution.

      13.   Governing Law. This Amendment shall be deemed to be a contract under
the laws of the State of Ohio and for all purposes shall be governed by and
construed and enforced in accordance with the internal laws of the State of Ohio
without regard to its conflict of laws principles.

      14.   Counterparts; Effective Date. This Amendment may be signed by
telecopy or original in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument. This Amendment shall become effective as of the date first above
written upon its execution and delivery by the Borrowers and the Required
Lenders.

                            [SIGNATURE PAGES FOLLOW]

                                      -5-
<PAGE>
                  [SIGNATURE PAGE 1 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

      IN WITNESS WHEREOF, the parties have executed this instrument under seal
as of the day and year first above written.

                               LESCO, INC.

                               By:/s/ Jeffrey L. Rutherford (SEAL)
                               Name:___________________________________________
                               Title:Sr. Vice President, Chief Financial Officer

                               LESCO SERVICES, INC.

                               By: /s/ Patricia W. Pribisko (SEAL)
                               Name:___________________________________________
                               Title: Vice President & Secretary

                               LESCO TECHNOLOGIES, LLC
                               By /s/ Patricia W. Pribisko, its Manager
                               By:____________________________(SEAL)
                               Name:___________________________________________
                               Title: Vice President & Secretary

                               AIM LAWN & GARDEN PRODUCTS, INC.

                               By: /s/ Patricia W. Pribisko (SEAL)
                               Name:___________________________________________
                               Title: Vice President & Secretary
<PAGE>
                  [SIGNATURE PAGE 2 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

                                     PNC BANK, NATIONAL ASSOCIATION, as a Lender
                                     and as Administrative Agent

                                     By: /s/ James M. Steffy
                                     Name:________________________________
                                     Title Vice President
<PAGE>
                  [SIGNATURE PAGE 3 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

                                         JPMORGAN CHASE BANK, as a Lender and as
                                         Syndication Agent

                                         By:  /s/ John M Hariaczyi

                                         Name:________________________________
                                         Title: Vice President
<PAGE>
                  [SIGNATURE PAGE 4 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

                                               COMERICA BANK

                                               By: /s/ Timothy C. Griffin
                                               Name: ___________________________
                                               Title: Vice President
<PAGE>
                  [SIGNATURE PAGE 5 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

                                               U.S. BANK NATIONAL ASSOCIATION

                                               By:  /s/ Kerina Graves
                                               Name: ___________________________
                                               Title: Vice President
<PAGE>
                  [SIGNATURE PAGE 6 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

                                               GENERAL ELECTRIC CAPITAL
                                               CORPORATION

                                               By:  /s/ Linda Skinner
                                               Name: ___________________________
                                               Title: Vice President
<PAGE>
                  [SIGNATURE PAGE 7 OF 7 TO THIRD AMENDMENT TO
               REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT]

                                               LASALLE BUSINESS CREDIT, INC.

                                               By: /s/ Scott R. Busch
                                               Name: ___________________________
                                               Title: First Vice PresidentPrepared by R.R. Donnelley Financial -- Third Supplemental Indenture

 Exhibit 4.3 
  
 
 
 THIRD SUPPLEMENTAL INDENTURE 
  
 between 
  
 BANK OF AMERICA CORPORATION 

 
 and 
  
 THE BANK OF NEW YORK 
  
 Dated as of August 9, 2002 
  
 
 

 TABLE OF CONTENTS 
  
 
	  	  	 Page
 

	 ARTICLE 1            DEFINITIONS

	  	  
	 SECTION 1.1        Definition of Terms
 	  	 2
 
	 
	 ARTICLE
2            GENERAL TERMS AND CONDITIONS OF THE NOTES
 
	 SECTION 2.1         Designation and Principal Amount

	  	 4
 
	 SECTION 2.2         Maturity
 	  	 4
 
	 SECTION 2.3         Form and Payment
 	  	 4
 
	 SECTION 2.4         Global Form
 	  	 5
 
	 SECTION 2.5         Interest
 	  	 6
 
	 
	 ARTICLE 3            PREPAYMENT OF THE
NOTES
 
	 SECTION 3.1         Special Event Prepayment
 	  	 7
 
	 SECTION 3.2         Optional Prepayment by Company

	  	 7
 
	 SECTION 3.3         No Sinking Fund
 	  	 7
 
	 
	 ARTICLE 4            EXTENSION OF INTEREST
PAYMENT PERIOD
 
	 SECTION 4.1        Extension of Interest Payment
Period
 	  	 8
 
	 SECTION 4.2        Notice of Extension
 	  	 8
 
	 SECTION 4.3        Limitation of Transactions
 	  	 9
 
	 
	 ARTICLE 5            EXPENSES
 	  	  
	 SECTION 5.1        Payment of Expenses
 	  	 9
 
	 SECTION 5.2        Payment Upon Resignation or Removal

	  	 10
 
	 
	 ARTICLE 6            COVENANT TO LIST ON
EXCHANGE
 	  	  
	 SECTION 6.1        Listing on an Exchange
 	  	 10
 
	 
	 ARTICLE 7            FORM OF NOTE
 	  	  
	 SECTION 7.1        Form of Note
 	  	 10
 
	 
	 ARTICLE 8            ORIGINAL ISSUE OF
NOTES
 	  	  
	 SECTION 8.1        Original Issue of Notes
 	  	 17
 
	 
	 ARTICLE 9            MISCELLANEOUS

	  	  
	 SECTION 9.1        Ratification of Indenture
 	  	 18
 
	 SECTION
9.2        Trustee Not Responsible for Recitals
 	  	 18
 
	 SECTION 9.3        Governing Law
 	  	 18
 
	 SECTION 9.4        Separability
 	  	 18
 
	 SECTION 9.5        Counterparts
 	  	 18
 
	 
	 ARTICLE 10            MATURITY DATE
EXTENSION
 	  	  
	 SECTION 10.1        Extension
 	  	 19
 
	 SECTION 10.2        Notice of Extension
 	  	 19
 

 
 

 i 

 THIRD SUPPLEMENTAL INDENTURE 
  
 THIS THIRD SUPPLEMENTAL INDENTURE, dated as of August 9, 2002 (the “Third 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 7% Series A Junior Subordinated Notes, due 2032
(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 Third Supplemental Indenture; and 
  
 WHEREAS, under the terms of an Underwriting Agreement dated as of August 2, 2002 (the “Underwriting Agreement”), among the
Company, BAC Capital Trust III (the “Trust”) and the Underwriters named therein (the “Underwriters”), the Trust has agreed to sell to the Underwriters $450,000,000 aggregate liquidation amount of its 7% Capital Securities (such
securities being of the type referred to in the Indenture as the “Preferred Securities” and in this Third Supplemental Indenture as the “Capital Securities”) and has granted the Underwriters an option to purchase up to an
additional $67,500,000 aggregate liquidation amount of Capital Securities of the Trust (the “Option”) to cover over-allotments; and 
  
 WHEREAS, under the terms of a Subscription Agreement dated as of August 2, 2002 between the Trust and the Company (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 $450,000,000 aggregate principal amount of the Notes, and may, upon exercise of the Option purchase up to an additional $69,600,000 aggregate principal amount of the Notes; and

  
 WHEREAS, the Company has requested that the Trustee execute and deliver this Third Supplemental Indenture; and

  
 WHEREAS, all requirements necessary to make this Third 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 Third Supplemental Indenture have
been duly authorized in all respects. 
  
 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 Third Supplemental Indenture unless otherwise provided herein;

  
 (b)    a term defined anywhere in this Third 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 Third 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; (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 Federal
Reserve Board, as then in effect and applicable to the Company. 
  
 “Compounded
Interest” shall have the meaning set forth in Section 4.1. 
  
 “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 III, a Delaware statutory business trust, dated as of August 2, 2002. 
 

 2 

  
 “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 August 15, 2007. 
  
 “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 August 15, 2007, in whole
but not in part, pursuant to the occurrence of a Special Event. 
 

 3 

  
 “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 “7% Series A Junior Subordinated Notes, due 2032” limited in aggregate principal amount to no more than $533,600,000 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. 
  
 SECTION 2.2    Maturity. 
  
 The Maturity Date for the Notes is August 15, 2032. 
  
 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 
 

 4 

 
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 Third 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 Third 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. 
  
 (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 
 

 5 

 
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 7% per annum (the “Coupon Rate”) from August 9, 2002
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 February 15, May 15, August 15 and November 15 of each year (each, an “Interest Payment Date”), commencing on November 15, 2002, 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 February 1, May 1, August 1 and November 1 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 quarterly period for which interest is computed, will be
computed on the basis of the actual number of days elapsed in such a 30-day 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 
 

 6 

 
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 August 15, 2007, 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 by 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 August 15, 2007, 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. 
  
 (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. 
 

 7 

  
 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 quarterly periods (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 quarterly period 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 quarterly periods, 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, 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. 
  
 (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 
 

 8 

 
Notes or Trust Securities are listed or any other applicable self-regulatory organization or to Holders of the Notes. 
  
 (c)    The quarterly period 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
quarterly periods 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. 
  
 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, 

 9 

 
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 Third 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. 
  
 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: 
 

 10 

 (FORM OF FACE OF NOTE) 
  
 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 III (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 III, 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. 060505AN4
 
	  	    	 ISIN No. US060505      
 
	 No. I-R-1
 	    	  

 
 BANK OF AMERICA CORPORATION 
  
  
 7% SERIES A JUNIOR SUBORDINATED NOTES, 
 DUE 2032

  
 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 III, or registered assigns, the principal sum of
                                        
                        DOLLARS
($                      ) on August 15, 2032, (the “Maturity Date”), and to pay interest on said principal sum from August 9,
2002 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 February 15, May 15,
August 15 and November 15 of each year commencing November 15, 2002, at the rate of 7% 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 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 
 

 11 

 
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. 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 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. 
  
 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. 
 

 12 

 IN WITNESS WHEREOF, the Company has caused this instrument to be executed in its name by its duly authorized officers.

  
 
	 Date: August 9, 2002
 	 	 BANK OF AMERICA CORPORATION
 
	  	 	  
	  	 	 By:                                    
                                        
                               
 
	  	 	 Name:                                    
                                        
                         
 
	 [Seal]
 	 	 Title:                                    
                                        
                            
 

 
  
 Attest: 
  
 
	 By:                                     
                                        
  
 
	 Name:                                    
                                     
 
	 Title:                                    
                                      
 
 

 
 

 13 

 (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:
August            , 2002 
  
 
	 THE BANK OF NEW YORK, AS
TRUSTEE
 
	  
	 
	 By
 	 	  
 

	  	 	 Authorized Signatory
 

 
 

 14 

 (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 Third Supplemental Indenture dated as of
August 9, 2002 (the “Third 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 Third 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 August 15, 2007 (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. 
  
 The
Company shall have the right to extend the Maturity Date of the Notes to any date up to and including August 15, 2051 upon at least 30 days notice. 
  
 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 
 

 15 

 
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 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 quarterly periods (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 quarterly periods 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 
 

 16 

 the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in relation thereto. 

 
 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 $533,600,000 may, upon execution of this Third 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. 
 

 17 

 ARTICLE 9 
  
 MISCELLANEOUS 
  
 SECTION 9.1    Ratification of Indenture. 
  
 The Indenture, as supplemented by this Third Supplemental Indenture, is in all respects ratified and confirmed, and this Third
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 Third Supplemental Indenture. 
  
 SECTION 9.3    Governing Law. 
  
 This Third 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 Third 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 Third Supplemental Indenture or of the Notes, but this Third 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 Third 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. 
 

 18 

  
 ARTICLE 10 
  
 MATURITY DATE EXTENSION 
  
 SECTION
10.1    Extension. 
  
 (a)    The Company shall have the right at any
time and from time to time during the term of the Notes, to extend the Maturity Date of the Notes to any date up to and including August 15, 2051 (the “Extended Maturity Date”). During the extended period (i) the Company shall continue to
make quarterly interest payments on the Notes in the same manner as prior to such extension; and (ii) shall have the same rights to prepay the Notes and to extend the interest payment periods hereunder. 
  
 (b)    The Company may exercise its right under this Section 10.1 only if at the time such election is made and at the
time such extension commences: 
  
 (i)    no event of default under the Notes has
occurred and is continuing; 
  
 (ii)    the Trust is not in arrears on payments
of distributions on the Capital Securities and no deferred distributions on the Capital Securities are accumulated; and 
  
 (iii)    the Notes are, and after such extension will be, rated at least BBB- by Standard & Poor’s Ratings Services, at least Baa3 by Moody’s Investors Service, Inc. or at least the
equivalent by any other nationally recognized statistical rating organization. 
  
 SECTION 10.2    Notice of
Extension. 
  
 (a)    If the Property Trustee is the only registered Holder of the Notes at
the time the Company selects an Extended Maturity Date, the Company shall give written notice to the Regular Trustees, the Property Trustee and the Trustee of its selection of such Extended Maturity Date at least 30 days before the original Maturity
Date. 
  
 (b)    If the Property Trustee is not the only Holder of the Notes at the time the
Company selects an Extended Maturity Date, the Company shall give the Holders of the Notes and the Trustee written notice of its selection of such Extended Maturity Date at least 30 days before the original Maturity Date. 
  
 (c)    The delivery of the notice of selection of an Extended Maturity Date shall be deemed to automatically extend
the Maturity Date of the Notes without a requirement that any other documents be executed by the parties. 
  
 [Signature
Page Follows] 
 

 19 

  
 IN WITNESS WHEREOF, the parties hereto have caused this Third 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/    JAMES. W. HALL
 

	  	 	 Name: James W. Hall
 
	  	 	 Title: Agent
 

 
  
 

 20

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