Document:

EX-10.1

 Exhibit 10.1 
 STOCK PURCHASE AGREEMENT 
 THIS STOCK PURCHASE AGREEMENT (this
“Agreement”), dated July 26, 2013, by and among Westbury (Bermuda) Ltd., a Bermuda exempted company (“Westbury Ltd.”), Westbury Trust, a Bermuda trust (“Westbury Trust”
and, together with Westbury Ltd., the “Seller”) and Michael G. DeGroote, a resident of Bermuda (“DeGroote”) on the one hand, and CBIZ, Inc., a Delaware corporation (“Purchaser”
or the “Company”), on the other hand. 
 RECITAL 

WHEREAS, pursuant to the Stock and Option Purchase Agreement, dated September 13, 2010 (the “Option
Agreement”) Seller (a) sold to Purchaser seven million, seven hundred sixteen thousand, six hundred sixty-nine (7,716,669) shares of Common Stock, par value $0.01 per share (the “Common Stock”), at
$6.25 per share and (b) granted to Purchaser an irrevocable option (the “Option”) to purchase seven million, seven hundred sixteen thousand, six hundred sixty-nine (7,716,669) shares of Common Stock (the
“Original Option Shares”); 
 WHEREAS, Seller desires to sell and Purchaser desires to purchase three
million, eight hundred fifty-eight thousand, three hundred thirty four and one half (3,858,334.5) shares of the Original Option Shares at $6.65 per share (the “Purchased Shares”), after which sale and purchase such
Purchased Shares will no longer be subject to the Option Agreement; provided, however, that until the Closing, the terms of Section 3(c) of the Option Agreement shall continue to apply to the Purchased Shares; and 

WHEREAS, the purchase of the Purchased Shares is conditioned on the closing of that certain Stock Purchase Agreement between
Purchaser’s subsidiary CBIZ Operations, Inc. and Zotec Partners, LLC (the “Zotec Agreement”). 

AGREEMENT 

NOW, THEREFORE, in consideration of the premises, the respective representations, warranties, covenants and agreements contained in this
Agreement, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser, intending to be legally bound, hereby agree as follows: 

1. Purchase and Sale of the Purchased Shares. Upon the terms and subject to the conditions set forth in this Agreement, and in
reliance upon the representations and warranties herein made by each party to the other, Seller agrees to sell, and Purchaser agrees to purchase from Seller, at the Closing, the Purchased Shares. Seller will deliver to Purchaser at the Closing
(a) a certificate or certificates representing a portion of the Purchased Shares with duly executed stock powers attached thereto and (b) confirmation of book entry transfer of the remaining Purchased Shares into a Depository Trust Company
account of the Purchaser as may be designated by the Purchaser. The Seller and the Purchaser shall deliver a joint written instruction to JP Morgan Chase Bank, N.A., in its capacity as custodian under the Custody Agreement (as such term is defined
in the Option Agreement), to effectuate the release of the Purchased Shares from the Custody Account (as such term is defined in the Option Agreement) at the Closing. 

 2. Purchase Price. As the purchase price for the Purchased Shares, Purchaser will
pay, or cause to be paid, to Seller at the Closing in immediately available funds the sum of twenty five million, six hundred fifty seven thousand, nine hundred twenty four dollars and forty three cents ($25,657,924.43). 

3. Closing. The transfer and sale provided for in this Agreement (the “Closing”) will take place at the
offices of Akin Gump Strauss Hauer & Feld LLP, One Bryant Park, New York, NY 10036, at 10:00 am Eastern Time, contemporaneously with the closing of the Zoltec Agreement or on such other date as may be fixed for the Closing by written
agreement between Seller and Purchaser (the “Closing Date”). 
 4. Representations and
Warranties. 
 (a) Representations and Warranties of Seller and DeGroote. Seller and DeGroote hereby represent and
warrant to Purchaser as follows: 
 (i) Westbury Ltd. is an exempted company duly organized, validly existing and
in good standing under the laws of Bermuda. Westbury Trust is a trust duly formed, validly existing and in good standing under the laws of Bermuda. 
 (ii) Seller has all requisite power and authority to execute and deliver this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Seller and
the consummation by Seller of the transactions contemplated hereby have been duly authorized by all necessary action on the part of Seller. 
 (iii) This Agreement has been duly executed and delivered by Seller and DeGroote and constitutes a valid and binding obligation of Seller and DeGroote, enforceable in accordance with its terms, except as
enforceability may be subject to the effects of bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting the rights of creditors or general principles of equity. 

(iv) The execution and delivery of this Agreement by Seller and DeGroote and the consummation by Seller and DeGroote of
the transactions contemplated hereby will not (A) violate any provision of any existing law, statute, rule, regulation or ordinance applicable to Seller or DeGroote or (B) conflict with, result in any breach of or constitute a default
under (1) the Memorandum of Association or By-laws of Westbury Ltd. and the trust deed of Westbury Trust, (2) any order, writ, judgment, award or decree of any court, governmental authority, bureau or agency to which Seller or DeGroote is
a party or by which Seller or DeGroote may be bound or (3) any contract or other agreement or undertaking to which Seller or DeGroote is a party or by which Seller or DeGroote may be bound. 

(v) No consent, approval, order or authorization of, or registration, declaration or filing with, any court,
administrative agency or commission or other governmental authority or instrumentality, is required by or with respect to Seller or DeGroote in connection with the execution and delivery of this Agreement or the

  
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consummation by Seller and DeGroote of the transactions contemplated hereby, except for any filings required under Schedule 13D under the Securities Exchange Act of 1934, as amended (the
“Exchange Act”) or Section 16 of the Exchange Act. 
 (vi) Seller has, and upon
transfer by Seller of the Purchased Shares hereunder Seller will deliver to Purchaser, good and marketable title to the Purchased Shares, free and clear of any claims, liens, encumbrances, security interests, restrictions and adverse claims of any
kind or nature whatsoever. There are no outstanding subscriptions, options, warrants, rights, contracts, understandings or agreements to purchase or otherwise acquire the Purchased Shares other than as provided for herein and the Option Agreement.

 (b) Representations and Warranties of Purchaser. Purchaser represents and warrants to Seller and DeGroote as follows:

 (i) Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware. 
 (ii) Purchaser has all requisite power and authority to enter into this Agreement and to
consummate the transactions contemplated hereby. The execution and delivery of this Agreement by Purchaser and the consummation by Purchaser of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the
Purchaser. 
 (iii) This Agreement has been duly executed and delivered by Purchaser and constitutes a valid and
binding obligation of Purchaser, enforceable in accordance with its terms except as enforceability may be subject to the effects of bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting the rights of creditors or
general principles of equity. 
 (iv) The execution and delivery of this Agreement by Purchaser and the
consummation by Purchaser of the transactions contemplated hereby will not (A) violate any provision of any existing law, statute, rule, regulation or ordinance applicable to Purchaser or (B) conflict with, result in any breach of or
constitute a default under (1) the Certificate of Incorporation or By-laws of Purchaser, (2) any order, writ, judgment, award or decree of any court, governmental authority, bureau or agency to which Purchaser is a party or by which it may
be bound or (3) any contract or other agreement or undertaking to which Purchaser is a party or by which Purchaser may be bound. 
 (v) No consent, approval, order or authorization of, or registration, declaration or filing with, any court, administrative agency or commission or other governmental authority or instrumentality, is
required by or with respect to Purchaser in connection with the execution and delivery of this Agreement or the consummation by Purchaser of the transactions contemplated hereby, except for the filing of a Current Report on Form 8-K in accordance
with the Exchange Act. 

  
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 (vi) Since the date of the Option Agreement, there has been no event
described in Section 3(c) of the Option Agreement that would trigger any adjustment to the number of Option Shares, the Exercise Price or the class of the Option Shares, in each case as contemplated by Section 3(c) of the Option Agreement.

 5. Closing Conditions; Termination. 
 (a) Conditions to Each Party’s Obligations. The obligation of Purchaser to purchase the Purchased Shares at the Closing and the obligation of Seller to sell the Purchased Shares at the Closing
are subject to the fulfillment at or prior to the Closing of the following conditions: 
 (i) No preliminary or
permanent injunction or other order shall have been issued by any court of competent jurisdiction or by any governmental or regulatory body, nor shall any statute, rule, regulation or executive order have been promulgated or enacted by any
governmental authority which prevents the consummation of the transactions contemplated by this Agreement. 

(ii) No action or proceeding before any court or any governmental or regulatory authority shall have been commenced by any
governmental or regulatory body and shall be pending against any of the parties hereto or any of their respective affiliates, associates, officers or directors seeking to prevent or delay the transactions contemplated by this Agreement. 

(iii) The Zotec Agreement shall have closed in accordance with its terms. 

(b) Conditions to Obligation of Purchaser. The obligation of Purchaser to purchase the Purchased Shares at the Closing is subject
to the fulfillment at or prior to the Closing of the following conditions: 
 (i) The representations and
warranties of Seller and DeGroote contained in this Agreement shall have been true and correct when made and shall be true and correct in all material respects at and as of the Closing Date with the same force and effect as though such
representations and warranties were made at and as of the Closing Date. 
 (ii) Seller and DeGroote shall have
performed and complied in all material respects with all agreements, obligations and conditions required by this Agreement to be performed or complied with by Seller and DeGroote at or prior to the Closing. 

(c) Conditions to Obligation of Seller. The obligation of Seller to sell the Purchased Shares at the Closing is subject to the
fulfillment at or prior to the Closing of the following conditions: 
 (i) The representations and warranties of
Purchaser contained in this Agreement shall have been true and correct when made and shall be true and correct in 

  
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all material respects at and as of the Closing Date with the same force and effect as though such representations and warranties were made at and as of the Closing Date. 

(ii) Purchaser shall have performed and complied in all material respects with all agreements, obligations and conditions
required by this Agreement to be performed or complied with by Purchaser at or prior to the Closing. 
 (d) Termination.
The Seller may terminate this Agreement upon written notice delivered to the Purchaser if the Closing shall not have occurred on or prior to November 1, 2013. 
 6. Miscellaneous. 
 (a) No Brokers. Seller and DeGroote, on the one
hand, and Purchaser, on the other hand, each represent to the other that neither it nor any of its respective affiliates have employed any broker or finder or incurred any liability for any brokerage or finder’s fees or commissions or expenses
related thereto in connection with the negotiation, execution or consummation of this Agreement or any of the transactions contemplated hereby and respectively agree to indemnify and hold the other harmless from and against any and all claims,
liabilities or obligations with respect to any such fees, commissions or expenses asserted by any person on the basis of any act or statement alleged to have been made by such party or any of its affiliates. 

(b) Entire Agreement. This Agreement constitutes the entire agreement and understanding of the parties in respect of the subject
matter hereof and supersedes all prior understandings, agreements or representations by or between the parties, written or oral, to the extent they relate in any way to the subject matter hereof. The Recitals at the beginning of this Agreement are
hereby incorporated by reference into this Agreement and shall be deemed to be a part hereof for all purposes. 
 (c)
Assignment; Binding Effect; Third Party Beneficiaries. No party may assign either this Agreement or any of its rights, interests or obligations hereunder without the prior written approval of the other party. All of the terms, agreements,
covenants, representations, warranties and conditions of this Agreement are binding upon and inure to the benefit of and are enforceable by, the parties and their respective successors and permitted assigns. There are no third party beneficiaries
having rights under or with respect to this Agreement. 
 (d) Further Assurances. If any further action is necessary or
reasonably desirable to carry out this Agreement’s purposes, each party will take such further action (including executing and delivering any further instruments and documents and providing any reasonably requested information) as the other
party reasonably may request. 
 (e) Survival of Representations, Warranties and Covenants. Each representation, warranty,
covenant and obligation in this Agreement will survive for a period of one year after the execution and delivery of this Agreement and the consummation of the 

  
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transactions contemplated by this Agreement, and will not be affected by any investigation by or on behalf of the other party to this Agreement. 

(f) Indemnification. Seller and DeGroote, on the one hand, and Purchaser, on the other hand, respectively, will each indemnify and
hold harmless the other from and against any and all losses, claims, damages, liabilities and expenses (including, without limitation, legal fees and expenses) suffered or incurred by any such indemnified party to the extent arising from any breach
of any representation or warranty of the indemnifying party contained in this Agreement or any breach by the indemnifying party, or failure by the indemnifying party to perform, any covenant or agreement contained herein. 

(g) Notices. All notices, requests and other communications provided for or permitted to be given under this Agreement must be in
writing and given by personal delivery, by certified or registered United States mail (postage prepaid, return receipt requested), by a nationally recognized overnight delivery service for next day delivery, or by facsimile transmission, as follows
(or to such other address as any party may give in a notice given in accordance with the provisions hereof): 

If to Purchaser: 
 6050 Oak Tree Blvd., South, Suite 500 
 Cleveland, OH 44131

 Attention: Michael W. Gleespen 

Facsimile: 216-447-9007 
 with a copy (which will not constitute notice) to: 
 Akin Gump
Strauss Hauer & Feld LLP 
 One Bryant Park 

New York, NY 10036 
 Attention: Mark Zvonkovic 
 Facsimile: (212) 872-1002

 If to Seller or DeGroote: 

Victoria Hall 
 11 Victoria Street 
 Hamilton, HMEX Bermuda 

Attention: James Watt 
 Facsimile: (441) 292 9485 
 with a copy (which will not
constitute notice) to: 
 Dickstein Shapiro LLP 

1633 Broadway 10019-6708 
 Attention: Malcolm I. Ross, Esq. 
 Facsimile: (212) 277-6501

  
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 All notices, requests or other communications will be effective and deemed given only as follows:
(i) if given by personal delivery, upon such personal delivery, (ii) if sent by certified or registered mail, on the fifth business day after being deposited in the United States mail, (iii) if sent for next day delivery by overnight
delivery service, on the date of delivery as confirmed by written confirmation of delivery, (iv) if sent by facsimile, upon the transmitter’s confirmation of receipt of such facsimile transmission, except that if such confirmation is
received after 5:00 p.m. (in the recipient’s time zone) on a business day, or is received on a day that is not a business day, then such notice, request or communication will not be deemed effective or given until the next succeeding business
day. Notices, requests and other communications sent in any other manner, including by electronic mail, will not be effective. 

(h) Specific Performance; Remedies. Each party acknowledges and agrees that the other party would be damaged irreparably if any
provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached. Accordingly, the parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to
enforce specifically this Agreement and its provisions in addition to any other remedy to which they may be entitled, at law or in equity. Except as expressly provided herein, the rights, obligations and remedies created by this Agreement are
cumulative and in addition to any other rights, obligations or remedies otherwise available at law or in equity. Except as expressly provided herein, nothing herein will be considered an election of remedies. 

(i) Headings. The article and section headings contained in this Agreement are inserted for convenience only and will not affect in
any way the meaning or interpretation of this Agreement. 
 (j) Governing Law. This Agreement will be governed by and
construed in accordance with the laws of the State of New York, without giving effect to any choice of law principles. 
 (k)
Amendment. This Agreement may not be amended or modified except by a writing signed by all of the parties. 
 (l)
Extensions; Waivers. Any party may, for itself only, (a) extend the time for the performance of any of the obligations of any other party under this Agreement, (b) waive any inaccuracies in the representations and warranties of any
other party contained herein or in any document delivered pursuant hereto and (c) waive compliance with any of the agreements or conditions for the benefit of such party contained herein. Any such extension or waiver will be valid only if set
forth in a writing signed by the party to be bound thereby. No waiver by any party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default,
misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent such occurrence. Neither the failure nor any delay on the party of any party to exercise any right or remedy
under this Agreement will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy preclude any other or further exercise of the same or of any other right or remedy. 

  
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 (m) Expenses. Each party will bear its own costs and expenses incurred in connection
with the preparation, execution and performance of this Agreement and the transactions contemplated hereby, including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. 

(n) Continuation of Option Agreement. The Option Agreement shall remain in full force and effect in accordance with its terms,
except that the number of shares subject to the option contained therein shall be reduced by the number of Purchased Shares. 

(o) Counterparts; Effectiveness. This Agreement may be executed in two or more counterparts, each of which will be deemed an
original but all of which together will constitute one and the same instrument. This Agreement will become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, which delivery may be made
by exchange of copies of the signature page by facsimile transmission. 
 [Signature Page Follows] 

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

			
	CBIZ, Inc.
		
	By:	 	/s/ Ware H. Grove        
	Name:	 	Ware H. Grove
	Title:	 	Senior Vice President and Chief Financial Officer

  

			
	Westbury (Bermuda) Ltd.
		
	By:	 	/s/ Jim Watt        
	Name:	 	Jim Watt
	Title:	 	President

  

			
	Westbury Trust
		
	By:	 	/s/ Jim Watt        
	Name:	 	Jim Watt
	Title:	 	Trustee

  

	
	Michael G. DeGroote
	
	/s/ Michael G. DeGroote

 [Signature Page to Stock Purchase Agreement]EX-4.1

 Exhibit 4.1 

 
  

 
 PIEDMONT NATURAL GAS COMPANY,
INC. 
 AND 
 THE BANK OF NEW YORK MELLON 
 TRUST COMPANY, N.A., AS TRUSTEE

 FIFTH SUPPLEMENTAL INDENTURE 
 DATED AS OF August 1, 2013 
 Supplement to Indenture Dated as of
April 1, 1993 
 4.65% SENIOR NOTES, DUE 2043 

 
  

 

 TABLE OF CONTENTS1 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE 1 4.65% Notes Series 2013, Due 2043
	  	 	2	  
			
		 	 SECTION 101. Establishment
	  	 	2	  
			
		 	 SECTION 102. Definitions
	  	 	2	  
			
		 	 SECTION 103. Payment of Principal and Interest
	  	 	3	  
			
		 	 SECTION 104. Denominations
	  	 	4	  
			
		 	 SECTION 105. Book-Entry Debt Securities
	  	 	4	  
			
		 	 SECTION 106. Transfer
	  	 	4	  
			
		 	 SECTION 107. Redemption at the Company’s Option
	  	 	4	  
		
	 ARTICLE 2 Miscellaneous Provisions
	  	 	5	  
			
		 	 SECTION 201. Concerning the Trustee
	  	 	5	  
			
		 	 SECTION 202. Defeasance; Satisfaction and Discharge
	  	 	5	  
			
		 	 SECTION 203. Sinking Fund
	  	 	5	  
			
		 	 SECTION 204. Notices
	  	 	5	  
			
		 	 SECTION 205. Miscellaneous
	  	 	6	  

 EXHIBIT A FORM OF NOTE 

EXHIBIT B CERTIFICATE OF AUTHENTICATION 

 

	1 	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions.

  
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 THIS FIFTH SUPPLEMENTAL INDENTURE (this “Fifth Supplemental Indenture”),
dated as of August 1, 2013, between PIEDMONT NATURAL GAS COMPANY, INC., a corporation organized and existing under the laws of the State of North Carolina (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a
national banking association duly organized and existing under the laws of the United States, as successor to Citibank, N.A. (the “Trustee”). 
 WITNESSETH: 
 WHEREAS, a predecessor to the Company has heretofore executed and
delivered to the Trustee an Indenture dated as of April 1, 1993 (the “Base Indenture”); 
 WHEREAS, the Company
has heretofore executed and delivered to the Trustee a First Supplemental Indenture dated as of February 25, 1994 pursuant to which the Company assumed all of the obligations of its predecessor company under the Base Indenture; 

WHEREAS, the Company has heretofore executed and delivered to the Trustee a Second Supplemental Indenture dated as of June 15, 2003
pursuant to which Section 4.07 (“Limitation on Liens”) of the Base Indenture was amended, applicable to all Series of Debt Securities issued after June 15, 2003; 

WHEREAS, the Company has heretofore executed and delivered to the Trustee a Third Supplemental Indenture dated as of June 20, 2006
pursuant to which (i) the Company issued $200,000,000 in aggregate principal amount of its 6.25% Insured Quarterly Notes Series 2006 due 2036 and (ii) the Limitation on Liens and related definitions in Section 1.01 of the Base
Indenture were amended, applicable to all series of Debt Securities issued on or after June 20, 2006; 
 WHEREAS, the
Company has heretofore executed and delivered, in addition to the above described supplemental indentures, a Fourth Supplemental Indenture dated as of May 6, 2011 to the Base Indenture (all such supplemental indentures, together with the Base
Indenture, the “Original Indenture”); 
 WHEREAS, the Original Indenture is incorporated herein by this reference and
the Original Indenture, as heretofore supplemented and as further supplemented by this Fifth Supplemental Indenture, is herein called the “Indenture”; 
 WHEREAS, the Original Indenture provides that the Company and the Trustee may from time to time enter into indentures supplemental thereto to issue and establish the form or terms of a new series of Debt
Securities; 
 WHEREAS, the Company proposes to issue under the Indenture a new series of Debt Securities; 

WHEREAS, the Company represents that all acts and things necessary to constitute this Fifth Supplemental Indenture and the Notes (as
defined below), when executed by the Company and authenticated and delivered by the Trustee, the valid, binding and enforceable obligations of the Company have been done and performed, and the execution of this Fifth Supplemental Indenture has in
all respects been duly authorized, and the Company, in the exercise of legal right and power in it vested, is executing this Fifth Supplemental Indenture: 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained and for other valuable consideration, the receipt whereof is hereby acknowledged, the parties have executed
and delivered this Fifth Supplemental Indenture and the Company covenants and agrees with the Trustee as follows: 

 ARTICLE 1 
 4.65% Senior Notes Due 2043 
 SECTION 101. Establishment.
There is hereby established a new series of Debt Securities to be issued under the Indenture, to be designated as the Company’s 4.65% Senior Notes Due 2043 (the “Notes”).  

There are to be initially authenticated and delivered $300,000,000 aggregate principal amount of Notes; provided, however, that the
authorized aggregate principal amount of the Notes may be increased above such amount without the consent of the Holders of any then outstanding Notes by a Board Resolution authorizing such increase; provided, further, that any additional Notes
issued pursuant to such increase must be part of the same issue and fungible with the initially issued Notes for U.S. Federal income tax purposes. No Notes shall otherwise be authenticated and delivered in excess of the initial aggregate principal
amount except as provided by Sections 2.07, 2.08, 2.09, 3.03 or 10.04 of the Original Indenture. The Notes shall be issued in definitive fully registered form. 
 The Notes shall be issued in the form of a Book-Entry Debt Security in substantially the form set out in Exhibit A hereto. The Depository with respect to the Notes shall be The Depository Trust Company.

 The form of the Trustee’s Certificate of Authentication for the Notes shall be in substantially the form set forth in
Exhibit B hereto. 
 Each Note shall be dated the date of authentication thereof and shall bear interest from the date of
original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 

SECTION 102. Definitions. The following defined terms used herein shall, unless the context otherwise requires, have the
meanings specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Original Indenture.  
 “Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term of the Notes to be redeemed that would
be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of four Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations, or (3) if only one such Reference Treasury Dealer Quotation is received, such quotation. 
 “Interest
Payment Dates” means February 1 and August 1 of each year, commencing February 1, 2014. 
 “Original
Issue Date” means August 1, 2013. 
 “Quotation Agent” means a Reference Treasury Dealer appointed by the
Company. 

  
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 “Reference Treasury Dealer” means (1) Merrill Lynch, Pierce,
Fenner & Smith Incorporated or its affiliates, and successor, unless it ceases to be a primary U.S. government securities dealer in the United States of America (“Primary Treasury Dealer”), in which case the Company will
substitute therefore another Primary Treasury Dealer, (2) a Primary Treasury Dealer selected by U.S. Bancorp Investments, Inc. and (3) two other Primary Treasury Dealers selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the quotation Agent by such Reference Treasury Dealer
at 5:00 p.m., New York City time on the third business day preceding such redemption date. 
 “Stated Maturity” means
August 1, 2043. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such redemption date. 
 SECTION 103. Payment of Principal and Interest. The principal of the Notes
shall be due at Stated Maturity (unless earlier redeemed). The unpaid principal amount of the Notes shall bear interest at the rate of 4.65% per annum until paid or duly provided for. Interest shall be paid
semi-annually in arrears on each Interest Payment Date to the Person in whose name the Notes are registered at the close of business on the Record Date for such Interest Payment Date, provided that interest
payable at the Stated Maturity of principal or on a redemption date as provided herein will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable
to the Holders on such Record Date and will be paid to the Person in whose name the Notes are registered on a subsequent record date established for the payment of such defaulted interest by notice given by mail or on behalf of the Company to the
Holders no less than fifteen (15) days preceding such subsequent record date, such record date to be not less than five (5) days preceding the date of payment of such defaulted interest or in any other lawful manner acceptable to the
Trustee.  
 Payments of interest on the Notes will include interest accrued to but excluding the respective Interest
Payment Date. Interest payments for the Notes shall be computed and paid 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 the Notes is not a Business Day, then payment of the 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), with the same force and effect as if made on the date the payment was originally payable.

 Payment of the principal and interest due at the Stated Maturity or earlier redemption of the Notes shall be made upon
surrender of the Notes at the Corporate Trust Office of the Trustee. The principal of and interest on the Notes shall be paid in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public
and private debts. Payments of the principal and interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by wire transfer to the Holders entitled
thereto who have provided appropriate wire transfer instructions to the Trustee, or by check mailed to the Holders of the Notes entitled thereto at their last addresses as they appear on the Debt Security Register or (ii) if the Notes are
Book-Entry Debt Securities, the Depository, as Holder of the Notes, shall be entitled to receive payment of interest by wire transfer of immediately available funds. 

  
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 SECTION 104. Denominations. The Notes may be issued in denominations of
$1,000, or any integral multiple thereof. 
 SECTION 105. Book-Entry Debt Securities. The Notes will be issued in
the form of a Book-Entry Debt Security registered in the name of the Depository or its nominee. Except under the limited circumstances described below, Notes represented by the
Book-Entry Debt Security will not be exchangeable for, and will not otherwise be issuable as, Notes in definitive, non-global form. The Book-Entry Debt Securities
described above may not be transferred except 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 or to a successor Depository or its nominee. 

Owners of beneficial interests in such a Book-Entry Debt Security will not be considered the
Holders thereof for any purpose under the Indenture, and no Book-Entry Debt Security representing a Note shall be exchangeable, except for another Book-Entry Debt Security of like denomination and tenor to be
registered in the name of the Depository or its nominee or to a successor Depository or its nominee. The rights of Holders of such Book-Entry Debt Security shall be exercised only through the Depository.

 Subject to the procedures of the Depository, a Book-Entry Debt Security shall be
exchangeable for Notes registered in the names of persons other than the Depository or its nominee only if (i) the Depository notifies the Company that it is unwilling or unable to continue as a Depository for such Book-Entry Debt Security and no successor Depository shall have been appointed by the Company, or if at any time the Depository ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as
amended, at a time when the Depository is required to be so registered to act as such Depository and no successor Depository shall have been appointed by the Company, in each case within 60 days after the Company receives such notice or becomes
aware of such cessation, (ii) the Company in its sole discretion determines that such Book-Entry Debt Security shall be so exchangeable, or (iii) there shall have occurred an Event of Default with
respect to the Notes. Any Book-Entry Debt Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Notes registered in such names as the Depository shall direct. 

SECTION 106. Transfer. No service charge will be made for the exchange or register a transfer of Notes, but payment will be
required of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 The
Company shall not be required to exchange or register a transfer of (a) Notes for a period of fifteen (15) days next preceding the mailing of the notice of any redemption of Notes to be redeemed, or (b) Notes selected, called or being
called for redemption, except, in the case of Notes to be redeemed in part, the portion thereof not to be so redeemed. 

SECTION 107. Redemption at the Company’s Option. Prior to February 1, 2043, the Company shall have the right to
redeem the Notes, at its option, at any time in whole, or from time to time in part, at a redemption price equal to the greater of: 
 (i) 100% of the principal amount of the Notes to be redeemed; and 

(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be
redeemed (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a
360-day year consisting of twelve 30-day months) at the Treasury Rate, plus 15 basis points; 

  
 4 

 plus, in each case, accrued and unpaid interest on the principal amount being redeemed to the redemption
date. 
 On or after February 1, 2043, the Company shall have the right to redeem the Notes, at its option, at any time in
whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on the principal amount being redeemed to the redemption date. 

Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on an Interest Payment Date falling on or
prior to a redemption date shall be payable on such Interest Payment Date to the Holders as of the close of business on the relevant Record Date. 
 On or after the date of redemption, interest will cease to accrue on the Notes or portion of the Notes redeemed. However, interest will continue to accrue if the Company defaults in the payment of the
amount due upon redemption. 
 ARTICLE 2 
 Miscellaneous Provisions 
 SECTION 201. Concerning the Trustee.
The Trustee accepts the trusts of the Indenture and agrees to perform the same, but only upon the terms and conditions set forth in the Indenture, to which the parties hereto and the Holders from time to time agree. Without limiting the
generality of the foregoing, the Trustee assumes no responsibility for the correctness of the recitals herein contained, which shall be taken as the statements of the Company. The Trustee makes no representation or warranty as to, and assumes no
responsibility for, the validity or adequacy of this Fifth Supplemental Indenture or the Notes, it shall not be accountable for the Company’s use of proceeds from the Notes, and it shall not be responsible for any statement of the Company in
this Fifth Supplemental Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 

SECTION 202. Defeasance; Satisfaction and Discharge. The provisions of Article Thirteen of the Base Indenture shall apply
to the Notes.  
 SECTION 203. Sinking Fund. The Notes are not entitled to the benefits of any sinking
fund. 
 SECTION 204. Notices. The address for any notice or demand under this Fifth Supplemental Indenture for
each of the parties shall be as follows:  
 If to the Company: 

Piedmont Natural Gas Company, Inc. 
 4720 Piedmont Row Drive 
 Charlotte, North Carolina 28210 

Attention: Treasurer 
 With a copy to: 
 Piedmont Natural Gas Company, Inc. 

4720 Piedmont Row Drive 
 Charlotte, North Carolina 28210 
 Attention: General Counsel 

  
 5 

 If to the Trustee: 
 The Bank of New York Mellon Trust Company, N.A. 
 10161 Centurion Parkway

 Jacksonville, Florida 32256 
 Attention: Corporate Trust Administration 
 SECTION 205. Miscellaneous.

 (a) Except as hereby expressly amended hereby, the Original Indenture is in all respects ratified and confirmed and all
the terms, provisions and conditions thereof shall be and remain in full force and effect. 
 (b) All the covenants,
stipulations, promises and agreements in this Fifth Supplemental Indenture contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 

(c) This Fifth Supplemental Indenture and each Note shall be deemed to be a contract made under the laws of the State of New York and for
all purposes shall be governed by and construed in accordance with the laws of said State. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THE INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 (d) If
any provision of the Indenture limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part of or govern the Indenture, such latter provision shall control. If any provision of the Indenture
modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to the Indenture as so modified or to be excluded, as the case may be. 

(e) The titles and headings of the sections of this Fifth Supplemental Indenture have been inserted for convenience of reference only,
are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 
 (f) This
Fifth Supplemental Indenture may be executed in any number of counterparts, each of which shall be deemed an original, and such counterparts shall together constitute one and the same instrument. 

(g) In case any provision in this Fifth Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions hereof or of the Indenture shall not in any way be affected or impaired thereby. 

[Signature page to follow.] 

  
 6 

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

											
	ATTEST:	 		 	PIEDMONT NATURAL GAS COMPANY, INC.
					
	By:	 	 /s/ Jane R. Lewis-Raymond
	 		 	By:	 	 /s/ Karl W. Newlin

		 	Secretary	 		 		 	Name:	 	Karl W. Newlin
		 		 		 		 	Title:	 	Senior Vice President and Chief Financial Officer
			
	ATTEST:	 		 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
		 		 		 	as Trustee
					
	By:	 	 /s/ Robert Hardy
	 		 	By:	 	 /s/ Richard Tarnas

		 	Vice President	 		 		 	Name:	 	R. Tarnas
		 		 		 		 	Title:	 	Vice President

 EXHIBIT A 
 FORM OF NOTE 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS DEBT SECURITY IS A
BOOK-ENTRY DEBT SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS DEBT SECURITY IS EXCHANGEABLE FOR DEBT SECURITIES
REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS DEBT SECURITY (OTHER THAN A TRANSFER OF THIS DEBT SECURITY 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 SUCH LIMITED CIRCUMSTANCES. 
 PIEDMONT NATURAL GAS COMPANY, INC. 
 4.65% SENIOR NOTES DUE 2043

  

			
	No. R-1	  	$300,000,000
		
	CUSIP No. 720186 AG0	  	

 PIEDMONT NATURAL GAS COMPANY, INC., a corporation validly existing under the laws of the State of North
Carolina (herein called the “Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum
of THREE HUNDRED MILLION DOLLARS ($300,000,000) on August 1, 2043 and to pay interest thereon from August 1, 2013 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually in arrears
on February 1 and August 1 (each an “Interest Payment Date”) in each year, commencing February 1, 2014 at the rate of 4.65% per annum, until the principal hereof is paid or made available for payment, and (to the extent
that the payment of such interest shall be legally enforceable) at the rate of 4.65% per annum on any overdue principal and on any overdue installment of interest. The amount of interest payable on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Note is registered at the close of business on the regular Record Date for such interest, which shall be the January 15 or July 15 (whether or not a Business Day), as the case may
be, immediately preceding such Interest Payment Date, provided that interest payable at the Stated Maturity of principal or on a redemption date as provided in the Indenture will be paid to the Person to whom principal is payable. Any such interest
not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such regular Record Date and will be paid to the Person in whose name the Notes are 

  
 A-1

 
registered at the close of business on a subsequent record date established for the payment of such defaulted interest by notice given by mail or on behalf of the Company to the Holders no less
than fifteen (15) days preceding such subsequent record date, such record date to be not less than five (5) days preceding the date of payment of such defaulted interest or in any other lawful manner acceptable to the Trustee. 

Payments of interest on this Note will include interest accrued to but excluding the respective Interest Payment Date. Interest payments
for this Note shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any Interest Payment Date would otherwise be a day that is not a Business Day, then payment of the 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), with the same force and effect as if made on the date the payment was originally payable. 

Payment of the principal of and interest on this Note will be made in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts. Payment of interest on this Note (other than interest payable at maturity) will be made, at the option of the Company, by wire transfer to the Holders entitled thereto who have
provided appropriate wire transfer instructions to the Trustee or by check mailed to the address of the Holder as such address shall appear in the Debt Security Register; provided, however, that if this Note is a Book-Entry Debt Security the
Depository, as Holder of this Note, shall be entitled to receive payment of interest by wire transfer of immediately available funds. Notices regarding changes of address shall be effective upon recordation in the Debt Securities Register. Payment
of the principal of and interest on this Note payable at maturity will be made in immediately available funds upon surrender of this Note at the corporate trust office of the Trustee in the Borough of Manhattan, The City of New York, or such other
office or agency of the Company maintained for such purpose in the Borough of Manhattan, The City of New York, provided, however, that if this Note is a Book-Entry Debt Security the Depository, as Holder of this Note, shall be entitled to receive
payment of interest by wire transfer of immediately available funds in accordance with the arrangements with the Depository. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been
executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 A-2

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 Dated:             , 2013 

 

											
	ATTEST:	 		 		 		 	
		 		 		 		 	PIEDMONT NATURAL GAS COMPANY, INC.
						
	By:	 	  
	 		 		 	By:	 	  

		 	(Signature)	 		 		 		 	(Authorized Signature)

 [Seal] 

  
 A-3

 CERTIFICATE OF AUTHENTICATION 

This is one of the Debt Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated:             , 2013 

 

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

		 	(Authorized Signature)

 (Reverse Side of Note) 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued
in one or more series under an Indenture, dated as of April 1, 1993, as amended (as amended and supplemented the “Indenture”), between Piedmont Natural Gas Company, Inc., a New York corporation and the predecessor to the Company and
The Bank of New York Mellon Trust Company, N.A. (as successor to Citibank N.A.), as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is a global Book-Entry Debt Security and is limited initially in the aggregate principal amount of $300,000,000; provided however that the authorized aggregate principal amount of this Notes may be increased
above such amount by a Board Resolution authorizing such increase. 
 Prior to February 1, 2043, the Company shall have the
right to redeem this Note, at its option, at any time in whole, or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed and (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on this Note to be redeemed (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points; plus, in each
case, accrued and unpaid interest on the principal amount of this Note being redeemed to the redemption date. 
 On or after
February 1, 2043, the Company shall have the right to redeem this Note, at its option, at any time in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of this Note to be redeemed, plus accrued and
unpaid interest on the principal amount being redeemed to the redemption date. 
 For purposes of determining the redemption
price: 
 “Comparable Treasury Issue” means the United States Treasury security selected by the
Quotation Agent as having a maturity comparable to the remaining term of this Note to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of this Note. 
 “Comparable Treasury
Price” means, with respect to any redemption date, (1) the average of four reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or
(2) if the Quotation Agent obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations, or (3) if only one such Reference Treasury Dealer Quotation is received, such quotation. 

“Quotation Agent” means a Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) Merrill Lynch, Pierce, Fenner & Smith Incorporated or
its affiliates, and successor, unless it ceases to be a primary U.S. government securities dealer in the United States of America (“Primary Treasury Dealer”), in which case the Company will substitute therefor another Primary Treasury
Dealer, (2) Primary Treasury Dealer selected by U.S. Bancorp Investments, Inc. and (3) two other Primary Treasury Dealers selected by the Company. 

 “Reference Treasury Dealer Quotations” means, with respect to
each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date. 
 “Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

This Note will not have a sinking fund. 
 If an Event of Default with respect to the Notes shall occur and be continuing, the aggregate principal amount of the Notes may be declared due and payable in the manner, with the effect and subject to
the conditions provided in the Indenture. 
 The Indenture contains provisions for defeasance at any time of (a) the entire
indebtedness of this Note and (b) certain restrictive covenants, in each case upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of at least a 66 2/3% in aggregate principal
amount of such Debt Securities. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities
of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding
upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfers hereof or in exchange herefor or in lieu hereof, whether or not 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 interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations herein and therein set forth, the transfer of this Note is registrable in
the Debt Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and interest on this Note are payable, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Company and the Debt Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transfers or transferees. 
 This
global Book-Entry Debt Security is exchangeable for Notes in definitive, non-global 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 $1,000 and any integral multiple thereof. 

 No service charge shall be made for any such registration of transferor exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Note is registered as the owner hereof for all purposes whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 ABBREVIATIONS 
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations:

  

											
	 TEN COM-
	  	 as tenants in

common
	  	UNIF GIFT MIN ACT-	  		  	Custodian	  	
		  	  		  	  
	  		  	  

		  	  		  	 (Cust)
	  		  	(Minor)
				
	 TEN ENT-
	  	 as tenants by the entireties

as joint tenants
	  		  	 under Uniform Gifts to Minors Act

				
	 JT TEN-
	  	 with right of survivorship and
 not as tenants
 in common
	  		  	  

(State)

 Additional abbreviations may also be used 

though not on the above list. 
 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
  

 
 (please insert Social Security or other identifying
number of assignee) 
 PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

 
  
  

 
 the within Note and all rights thereunder, hereby
irrevocably constituting and appointing 
  
  

 
  
 agent to transfer said Note on the books of the Company, with full power of substitution in the premises. 
 Dated:                       
 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any change whatever.

 EXHIBIT B 
 CERTIFICATE OF AUTHENTICATION 
 This is one of the Debt Securities of the
series designated therein referred to in the within-mentioned Indenture. 
 Dated:
            , 2013 
  

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

		 	(Authorized Signature)

  
 B-1

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