Document:

Employment Agreement

 Exhibit 10.20 
 As of September 24, 2007 
 Denise White 
 c/o Viacom Inc. 
 1515 Broadway 
 New York, NY 10036 
 Dear Ms. White:

 Viacom Inc. (the “Company”), 1515 Broadway, New York, New York, 10036, agrees to employ you, and you
accept such employment, on the terms and conditions set forth in this letter agreement (“Agreement”). For purposes of this Agreement, “Viacom” shall mean Viacom Inc. and its subsidiaries. 
 1.        Contract Period.    The term of your employment under this
Agreement shall begin on September 24, 2007 (the “Effective Date”) and, unless terminated earlier as set forth herein, shall continue through and including September 23, 2010. The period from the Effective Date
through September 23, 2010 is referred to as the “Contract Period”, even if your employment terminates earlier for any reason. 
 2.        Duties.    You shall devote your entire business time, attention and energies to the business of Viacom during your employment with the
Company; provided, however, that nothing in this Agreement shall preclude you from serving as a member of the board of directors of any for-profit entity with prior approval from the Company’s Chief Executive Officer (“CEO”) or
of any charitable, educational, religious, entertainment industry trade, public interest or public service organization, in each instance not inconsistent with the business practices and policies of the Company, and provided further that such
activities do not interfere with the performance of your duties and responsibilities hereunder. You shall be Executive Vice President, Human Resources and Administration of the Company, and you shall perform all duties reasonable and consistent with
such office as may be assigned to you from time to time by the Company’s Chief Administrative Officer, or other individual designated by the CEO; provided, however, that, without your consent, you shall not be required to report directly to any
employee other than the CEO or a direct report of the CEO. 
 3.        Compensation. 
 (a)      Salary.    The Company shall pay you base salary (“Salary”) at a rate of Seven Hundred Fifty Thousand Dollars ($750,000) per year for all of your services as
an employee. Your Salary shall be subject to merit reviews, on or about an annual basis, while actively employed during the Contract Period and may, at that time, be increased but not decreased. 
 (b)      Annual Bonus.    You also shall be eligible to earn an annual bonus
(“Bonus”) or a Pro-Rated Bonus (as defined in paragraph 19(e)(ii)), as applicable, with respect to each calendar year that you are employed during the Contract Period, determined as set forth below. 
  

	 	(i)	 Your Bonus for each calendar year shall be determined in accordance with the Viacom Inc. Short-Term Incentive Plan, or the Viacom Inc. Senior Executive
Short-Term Incentive Plan, as applicable, as they may be amended from time to time (the “STIP”). 

  

	 	(ii)	 Your target Bonus for each calendar year during the Contract Period shall be 60% of your Salary (your “Target Bonus”) as in effect on
November 1st of such 

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year or the last day of the Contract Period, if earlier, and shall be adjusted based on the Company’s performance (the “Company Performance
Factor”) and your individual performance (the “Individual Performance Factor”), in each case as determined by the Company and as further provided in the STIP; provided, however, that you shall receive not less than 100% of
the Pro-Rated Bonus for the 2007 calendar year. 

 (c)      Sign-On
Bonus.    You shall receive an unconditional, non-forfeitable sign-on bonus in the amount of Two Hundred Fifty Thousand Dollars ($250,000) as soon as practicable following the Effective Date. 
 (d)      Long-Term Incentive Compensation.    During your employment under this
Agreement, you shall be eligible to receive annual grants of long-term compensation under the Viacom Inc. 2006 Long-Term Management Incentive Plan or any successor plan (the “LTMIP”), as determined by the Viacom Inc. Board of
Directors (the “Board”) or a committee of the Board, in its discretion, based on a target value of Seven Hundred Thousand Dollars ($700,000), determined and modified by the CEO and, if required, the Board or a committee of the
Board. In addition, you shall receive thirty thousand (30,000) restricted share units under the LTMIP within ten (10) days after the Effective Date that shall vest in three installments of an equal whole number of restricted share units on
each of the first, second and third anniversary of the date of grant. 
 (e)      Compensation During Short-Term Disability.    Your compensation for any period that you are absent due to a short-term disability (“STD”) and receiving
compensation under a Viacom STD plan shall be determined in accordance with the terms of such STD plan. The compensation provided to you under the applicable STD plan shall be in lieu of the Salary provided under this Agreement. Your participation
in any other Viacom benefit plans or programs shall be governed by the terms of the applicable plan or program documents, award agreements and certificates. 
 (f)      Relocation.    Relocation services shall be provided to you in accordance with the terms of the Viacom Relocation Policy
Overview. For the avoidance of doubt, the Company shall reimburse the cost of relocation with the assistance of a relocation service provider chosen by you; provided, however, that the Company shall only reimburse the cost of such relocation to the
extent that the cost of such relocation is comparable to the cost of the same relocation provided by the relocation service provider most often used by the Company. 
 (g)      Transportation.    From the Effective Date through May 24, 2008, unless employment is terminated earlier as set forth
herein, and subject to provision to the Company of reasonable supporting documentation, you shall be reimbursed for air transportation round-trips if used for your own personal travel between the Seattle, Washington metropolitan area and the New
York metropolitan area, in accordance with the Company’s business travel policies. 
 4.        Benefits.    During your employment under this Agreement, you shall be eligible to participate in any vacation programs, medical and dental plans and life
insurance plans, STD and long-term disability (“LTD”) plans, retirement and other employee benefit plans the Company may have, establish or maintain from time to time and for which you qualify pursuant to the terms of the applicable
plan. 
 5.        Business Expenses.    During your
employment under this Agreement, the Company shall reimburse you for such reasonable travel and other expenses, incurred in the performance of your duties 

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in accordance with the Company’s policies, as are customarily reimbursed to Company executives at comparable levels. 
 6.        Non-Competition and Non-Solicitation. 
 (a)      Non-Competition. 
  

	 	(i)	 Your employment with the Company is on an exclusive and full-time basis, and, other than as set forth in paragraph 2, while you are employed by the Company, you
shall not engage in any other business activity which is in conflict with your duties and obligations (including your commitment of time) to the Company. During the Non-Competition Period, you shall not directly or indirectly engage in or
participate as an owner, partner, holder or beneficiary of stock, stock options or other equity interest, officer, employee, director, manager, partner or agent of, or consultant for, any business competitive with any business of Viacom without the
prior written consent of the Company. This provision shall not limit your right to own not more than one percent (1%) of any of the debt or equity securities (or options or other rights to purchase the debt or equity securities) of any business
organization that is then filing reports with the Securities and Exchange Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, unless such ownership constitutes a significant portion of your net worth.

  

	 	(ii)	 The “Non-Competition Period” begins on the Effective Date and ends on the last day of the Contract Period, provided that:

  

	 	1.	 If the Company terminates your employment without Cause or if you validly resign for Good Reason before the end of the Contract Period, then the Non-Competition
Period shall end on the earlier of (i) the end of the period in which you are receiving payments pursuant to paragraph 11(c)(i) or (ii) the effective date of your waiver in writing of any right to receive or continue to receive
compensation and benefits under paragraph 11. You shall be deemed to have irrevocably provided such waiver if you accept competing employment. 

  

	 	2.	 If the Company terminates your employment for Cause or you resign other than for Good Reason, the Non-Competition Period shall end on the later of (i) the
last day of the Contract Period or (ii) eighteen (18) months after such termination or resignation. 

 (b)      Non-Solicitation.  
  

	 	(i)	 During the Non-Solicitation Period, you shall not directly or indirectly engage or attempt to engage in any of the following acts: 

 

	 	1.	 Employ or solicit the employment of any person who is then, or has been within six (6) months prior thereto, an employee of Viacom; or

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	 	2.	 Interfere with, disturb or interrupt the relationships (whether or not such relationships have been reduced to formal contracts) of Viacom with any customer,
supplier, independent contractor, consultant, joint venture or other business partner. 

  

	 	(ii)	 The “Non-Solicitation Period” begins on the Effective Date and ends on the last day of the Contract Period, or, if longer, eighteen
(18) months after the Company terminates your employment for Cause or you resign other than for Good Reason. 

 7.        Confidentiality and Other Obligations. 
 (a)      Confidential Information.    You shall not use for any purpose or disclose to any third party any information relating to Viacom, Viacom’s clients or other parties with
which Viacom has a relationship, or that may provide Viacom with a competitive advantage (“Confidential Information”), other than (i) in the performance of your duties under this Agreement consistent with the Company’s or
Viacom’s policies or (ii) as may otherwise be required by law and consistent with the requirements of paragraph 9. Confidential Information shall include, without limitation, trade secrets; inventions (whether or not patentable);
technology and business processes; business, product or marketing plans; negotiating strategies; sales and other forecasts; financial information; client lists or other intellectual property; information relating to compensation and benefits; public
information that becomes proprietary as a result of Viacom’s compilation of that information for use in its business; documents (including any electronic record, videotapes or audiotapes) and oral communications incorporating Confidential
Information. You shall also comply with any and all confidentiality obligations of Viacom to a third party that you know or should know about, whether arising under a written agreement or otherwise. Information shall not be deemed Confidential
Information if it is or becomes generally available to the public other than as a result of an unauthorized disclosure or action by you or at your direction or by any other person who directly or indirectly receives such information from you.

 (b)      Interviews, Speeches or Writings About Viacom.    Except
in the performance of your duties under this Agreement consistent with Viacom’s policies, you shall obtain the express authorization of the Company before (i) giving any speeches or interviews or (ii) preparing or assisting any person
or entity in the preparation of any books, articles, radio broadcasts, electronic communications, television or motion picture productions or other creations, in either case concerning Viacom or any of its respective businesses, officers, directors,
agents, employees, suppliers or customers. 
 (c)      Non-Disparagement.    You shall not, directly or indirectly, in any communications with any reporter, author, producer or any similar person or entity, the press or other
media, or any customer, client or supplier of Viacom, criticize, ridicule or make any statement which is negative, disparages or is derogatory of Viacom or any of its directors or senior officers. 
 (d)      Scope and Duration.    The provisions of paragraph 7(a) shall be in
effect during the Contract Period and at all times thereafter. The provisions of paragraphs 7(b) and 7(c) shall be in effect during the Contract Period and for one (1) year thereafter and such provisions shall apply to all formats and platforms
now known or hereafter developed, whether written, printed, oral or electronic, including without limitation e-mails, “blogs”, internet sites, chat or news rooms, podcasts or any online forum. 

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 8.        Viacom Property. 

(a)      Viacom Ownership. 
  

	 	(i)	 The results and proceeds of your services to the Company, whether or not created during the Contract Period, including, without limitation, any works of
authorship resulting from your services and any works in progress resulting from such services, shall be works-made-for-hire and Viacom shall be deemed the sole owner throughout the universe of any and all rights of every nature in such works, with
the right to use, license or dispose of the works in perpetuity in any manner Viacom determines in its sole discretion without any further payment to you, whether such rights and means of use are now known or hereafter defined or discovered.

  

	 	(ii)	 If, for any reason, any of the results and proceeds of your services to the Company are not legally deemed a work-made-for-hire and/or there are any rights in
such results and proceeds which do not accrue to Viacom under this paragraph 8(a), then you hereby irrevocably assign any and all of your right, title and interest thereto, including, without limitation, any and all copyrights, patents, trade
secrets, trademarks and/or other rights of every nature in the work, and Viacom shall have the sole right to use, license or dispose of the work in perpetuity throughout the universe in any manner Viacom determines in its sole discretion without any
further payment to you, whether such rights and means of use are now known or hereafter defined or discovered. 

  

	 	(iii)	 Upon request by the Company, whether or not during the Contract Period, you shall do any and all things which the Company may deem useful or desirable to
establish or document Viacom’s rights in the results and proceeds of your services to the Company, including, without limitation, the execution of appropriate copyright, trademark and/or patent applications, assignments or similar documents.
You hereby irrevocably designate the General Counsel, Secretary or any Assistant Secretary of Viacom Inc. as your attorney-in-fact with the power to take such action and execute such documents on your behalf. To the extent you have any rights in
such results and proceeds that cannot be assigned as described above, you unconditionally and irrevocably waive the enforcement of such rights. 

  

	 	(iv)	 The provisions of this paragraph 8(a) do not limit, restrict, or constitute a waiver by Viacom of any ownership rights to which Viacom may be entitled by
operation of law by virtue of being your employer. 

  

	 	(v)	 You and the Company acknowledge and understand that the provisions of this paragraph 8 requiring assignment of inventions to Viacom do not apply to any invention
which qualifies fully under the provisions of California Labor Code Section 2870, to the extent that such provision applies to you. You agree to advise the Company promptly in writing of any inventions that you believe meet the criteria in
California Labor Code Section 2870. 

 Denise White 
 September 24, 2007 
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 (b)      Return of
Property.    All documents, data, recordings, or other property, whether tangible or intangible, including all information stored in electronic form, obtained or prepared by or for you and utilized by you in the course of
your employment with the Company shall remain the exclusive property of Viacom and shall remain in Viacom’s exclusive possession at the conclusion of your employment.  
 9.        Legal Matters. 
 (a)      Communication.    Except as required by law or legal process or at the
request of the Company, you shall not communicate with anyone, except to the extent necessary in the performance of your duties under this Agreement in accordance with Viacom Inc.’s policies, with respect to the facts or subject matter of any
claim, litigation, regulatory or administrative proceeding directly or indirectly involving Viacom (“Viacom Legal Matter”) without obtaining the prior consent of Viacom Inc. or its counsel. 
 (b)      Cooperation.    You agree to cooperate with Viacom and its attorneys in
connection with any Viacom Legal Matter. Your cooperation shall include, without limitation, providing assistance to and meeting with Viacom’s counsel, experts or consultants, and providing truthful testimony in pretrial and trial or hearing
proceedings. In the event that your cooperation is requested after the termination of your employment, Viacom shall (i) seek to minimize interruptions to your schedule to the extent consistent with its interests in the matter; and
(ii) reimburse you for all reasonable and appropriate out-of-pocket expenses actually incurred by you in connection with such cooperation upon reasonable substantiation of such expenses. 
 (c)      Testimony.    Except as required by law or legal process or at the
request of Viacom Inc., you shall not testify in any lawsuit or other proceeding which directly or indirectly involves Viacom, or which may create the impression that such testimony is endorsed or approved by Viacom. 
 (d)      Notice to Viacom.    If you are requested or if you receive legal
process requiring you to provide testimony, information or documents (including electronic documents) in any Viacom Legal Matter or that otherwise relates, directly or indirectly, to Viacom or any of its officers, directors, employees or affiliates,
you shall give prompt notice of such event to Viacom Inc.’s General Counsel and you shall follow any lawful direction of Viacom Inc.’s General Counsel or his/her designee with respect to your response to such request or legal process.

 (e)      Adverse Party.    The provisions of this paragraph 9
shall not apply to any litigation or other proceeding in which you are a party adverse to Viacom; provided, however, that Viacom expressly reserves its rights under paragraph 7 and its attorney-client and other privileges with respect to its
documents and Confidential Information, except if expressly waived in writing. 
 (f)      Duration.    The provisions of this paragraph 9 shall apply during the Contract Period and at all times thereafter, and shall survive the termination of your employment with
the Company, with respect to any Viacom Legal Matter arising out of or relating to the business in which you were engaged during your employment with the Company. As to all other Viacom Legal Matters, the provisions of this paragraph 9 shall apply
during the Contract Period and for one year thereafter or, if longer, during the pendency of any Viacom Legal Matter which was commenced, or which Viacom received notice of, during such period. 

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 10.      Termination for Cause. 
 (a)      Termination Payments.    The Company may terminate your employment
under this Agreement for Cause and thereafter shall have no further obligations to you under this Agreement or otherwise, except for any earned but unpaid Salary through and including the date of termination and any other amounts or benefits
required to be paid or provided by law or under any plan of the Company (the “Accrued Compensation and Benefits”). Without limiting the generality of the preceding sentence, upon termination of your employment for Cause, you shall
have no further right to any Bonus or to exercise or redeem any stock options or other equity compensation. 
 (b)      Cause Definition.    “Cause” shall mean, by using an objective standard: (i) conduct constituting embezzlement, material misappropriation or fraud,
whether or not related to your employment with the Company; (ii) conduct constituting a felony, whether or not related to your employment with the Company; (iii) conduct constituting a financial crime, material act of dishonesty or
material unethical business conduct, involving Viacom; (iv) willful unauthorized disclosure or use of Confidential Information; (v) the failure to substantially obey a material lawful directive that is appropriate to your position from a
superior in your reporting line or the Board; (vi) your material breach of any material obligation under this Agreement; (vii) the failure or refusal to substantially perform your material obligations under this Agreement (other than any
such failure or refusal resulting from your STD or LTD); (viii) the willful failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, whether or not related to employment with
the Company, after being instructed by Viacom to cooperate; (ix) the willful destruction of or failure to preserve documents or other material known to be relevant to any investigation referred to in subparagraph (viii) above; or
(x) the willful inducement of others to engage in the conduct described in subparagraphs (i) – (ix). 
 (c)      Notice/Cure.    The Company shall give you written notice prior to terminating your employment on any of the bases described in paragraph 10(b)(v), (vi), (vii), (viii),
(ix) or (x), setting forth the nature of any alleged failure, breach or refusal in reasonable detail and the conduct required to cure such breach, failure or refusal. Except for a failure, breach or refusal which, by its nature, cannot
reasonably be expected to be cured, you shall have ten (10) business days from the giving of such notice within which to cure; provided, however, that, if the Company reasonably expects irreparable injury from a delay of ten (10) business
days, the Company may give you notice of such shorter period within which to cure as is reasonable under the circumstances, which may include the termination of your employment without notice and with immediate effect. 
 11.      Resignation for Good Reason and Termination Without Cause. 
 (a)      Resignation for Good Reason. 
  

	 	(i)	 You may resign for Good Reason at any time that you are actively employed during the Contract Period by written notice to the Company no more than thirty
(30) days after the occurrence of the event constituting Good Reason. Such notice shall state the grounds for such Good Reason resignation and an effective date no earlier than thirty (30) business days after the date it is given. The
Company shall have ten (10) business days from the giving of such notice within which to cure and, in the event of such cure, your notice shall be of no further force or effect. 

  

	 	(ii)	 “Good Reason” shall mean without your consent (other than in connection with the termination or suspension of your employment or duties for
Cause or in 

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connection with your death or LTD): (i) the assignment to you of duties or responsibilities substantially inconsistent with your position(s) or duties;
(ii) the withdrawal of material portions of your duties; or (iii) the material breach by the Company of any material obligation under this Agreement. 

 (b)      Termination Without Cause.    The Company may terminate your employment
under this Agreement without Cause at any time during the Contract Period by written notice to you. 
 (c)      Termination Payments/Benefits.    In the event that your employment terminates under paragraph 11(a) or (b), you shall thereafter receive the compensation and benefits
described below and the following shall apply: 
  

	 	(i)	 The Company shall continue to pay your Salary (at the rate in effect on the date of termination) for the longer of one (1) year or until the end of the
Contract Period (subject to the limitation set forth in the next paragraph); 

  

	 	(ii)	 You shall be eligible to receive a Bonus or Pro-Rated Bonus, as applicable, for each year during the Contract Period, calculated as provided in paragraph
19(e)(iii), provided that the total severance payment you receive pursuant to paragraphs 11(c)(i) and (ii) shall in no event exceed two times the sum of your Salary and Target Bonus in the calendar year in which such termination occurs;

  

	 	(iii)	 Provided you validly elect continuation of your medical and dental coverage under Section 4980B(f) of the Internal Revenue Code of 1986 (the
“Code”) (relating to coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)), your coverage and participation under the Company’s medical and dental benefit plans and programs in
which you were participating immediately prior to your termination of employment pursuant to this paragraph 11, shall continue at no cost to you (except as provided in paragraph 19(a)) until the earlier of (i) the end of the Contract Period or
(ii) the date on which you become eligible for medical and/or dental coverage from a third party. You may elect to continue your medical and dental coverage under COBRA at your own expense for the balance, if any, of the period required by law;

  

	 	(iv)	 The Company shall continue to provide you with life insurance coverage, at no premium cost to you (unless you had no coverage at the time of termination), until
the end of the Contract Period or, if longer, the end of the period in which you are receiving payments pursuant to paragraph 11(c)(i), in accordance with the Company’s then-current policy, as may be amended from time to time, and in the amount
then furnished at no cost to other Company executives at comparable levels. Such coverage shall end in the event you are eligible to obtain life insurance coverage from another employer; 

  

	 	(v)	 The following shall apply with respect to any stock options granted to you under any Viacom Inc. long-term incentive plan: 

 (x)      all stock options that have not vested as of the date of your termination of employment, but that
would have vested on or before the end of the Contract Period, shall become fully vested on the date of termination and such stock 

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options shall remain exercisable for six (6) months after such date (or, if longer, such period provided under the terms of the applicable long-term
incentive plan), but in no event later than the expiration date of such options; and 
 (y)      all outstanding stock options that have vested on or prior to the date of your termination of employment pursuant to this paragraph 11 shall remain exercisable for six (6) months after such date
(or, if longer, such period provided under the terms of the applicable long-term incentive plan), but in no event later than the expiration date of such options; 
  

	 	(vi)	 (x) All restricted share units granted to you under any Viacom Inc. long-term incentive plan that have not vested as of the date of your termination of
employment, but that would have vested on or before the end of the Contract Period and (y) all tranches of the 30,000 restricted share units provided for in paragraph 3(d) that are unvested shall become fully vested on the date of termination;

  

	 	(vii)	 There shall be no acceleration of the vesting of any equity or long-term incentive awards granted to you under any Viacom Inc. long-term incentive plan, unless
otherwise provided herein or under the terms of the applicable long-term incentive plan; 

  

	 	(viii)	 With respect to any performance share units or other equity awards with performance criteria that have been granted to you under any Viacom Inc. long-term
incentive plan after January 1, 2007 (“PSUs”) for which the applicable performance period for any such award has not ended prior to the date of such termination, the number of shares of Viacom Class B Common Stock to be
delivered to you with respect to such PSU award shall be determined based on valuation criteria for such shortened performance period ending on the date of such termination, multiplied by a fraction, the numerator of which is the number of days
starting with and inclusive of the first date of the relevant performance period and ending on and inclusive of the date of such termination and the denominator of which is the number of days in the full three-year performance period. Such shares
shall be delivered in full settlement of the PSUs in accordance with any Viacom Inc. long-term incentive plan and the terms and conditions applicable to the PSUs (the “PSU Terms and Conditions”). Your award will be forfeited in
full, and no shares will be delivered if your employment terminates before the end of the performance period for any reason other than as provided in paragraphs 11, 13 and 14; and 

  

	 	(ix)	 The Company shall pay or continue to provide, as applicable, the Accrued Compensation and Benefits. 

 (d)      Release.    The Company shall not be required to make the payments or
provide the benefits described in this paragraph 11 (except for the Accrued Compensation and Benefits), unless you execute and deliver to the Company a release in substantially the form appended hereto as Appendix A or any other form of release
as is in use by the Company at the time of your termination of employment, and the release has become effective and irrevocable in its entirety. 

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 (e)      Mitigation.    You
shall be required to Mitigate (as defined in paragraph 19(c)) the amount of any payment provided for in subsections (i), (ii) (iii), (iv) and (v) of paragraph 11(c). Mitigation shall not, however, be required for twelve
(12) months after the termination of your employment or, if less, the balance of the Contract Period. 
 12.      Resignation in Breach of the Agreement.    If you resign prior to the expiration of the Contract Period other than for Good Reason, such resignation shall be treated as a
termination for Cause under paragraph 10. After such resignation, without limitation of other rights or remedies available to the Company, the Company shall have no further obligations to you under this Agreement or otherwise, except for any Accrued
Compensation and Benefits. 
 13.      Termination Due to Death. 
 (a)      Death While Employed.    In the event of your death prior to the end of
the Contract Period while actively employed with the Company, this Agreement shall automatically terminate. Thereafter, your designated beneficiary (or, if there is no such beneficiary, your estate) shall receive (i) any Accrued Compensation
and Benefits as of the date of your death, (ii) for the year in which death occurs, any Bonus or Pro-Rated Bonus, as applicable, which you would have been eligible to receive, calculated in accordance with paragraph 19(e)(iii) and
(iii) with respect to any PSUs for which the applicable performance period for any such award has not ended prior to the date of your death, the number of shares of Viacom Class B Common Stock to be delivered to you with respect to such PSU
award shall be determined based on valuation criteria for such shortened performance period ending on the date of your death, multiplied by a fraction, the numerator of which is the number of days starting with and inclusive of the first date of the
relevant performance period and ending on and inclusive of the date of your death and the denominator of which is the number of days in the full three-year performance period. Such shares shall be delivered in full settlement of the PSUs in
accordance with the PSU Terms and Conditions. Your award under subsection (iii) above will be forfeited in full, and no shares will be delivered if your employment terminates before the end of the performance period for any reason other than as
provided in paragraphs 11, 13 and 14. All tranches of the 30,000 restricted share units provided for in paragraph 3(d) that are unvested shall become fully vested on the date of your death. 
 (b)      Death After the End of Employment.    In the event of your death while
you are entitled to receive compensation or benefits under paragraphs 11 or 15, in lieu of such payments your designated beneficiary (or, if there is no such beneficiary, your estate) shall receive, to the extent not previously paid to you,
(i) continuation of Salary pursuant to the applicable paragraph through the date of death; (ii) if you were entitled to receive compensation or benefits under paragraph 11, for the year in which death occurs, any Bonus or Pro-Rated Bonus,
as applicable, for the year in which death occurs, payable under such paragraph, calculated in accordance with paragraph 19(e)(iii); and (iii) any Accrued Compensation and Benefits. 

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 September 24, 2007 
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 14.      Termination Due to LTD. 
 (a)      In the event you are absent due to a LTD and receiving compensation under a Viacom LTD plan, this
Agreement shall terminate on the date you begin receiving compensation under a Viacom LTD plan without any further action required by the Company. In the event of such termination, you shall receive (i) any Accrued Compensation and Benefits and
(ii) for the year in which such termination occurs, any Bonus or Pro-Rated Bonus, as applicable, which you would have been entitled to receive, calculated in accordance with paragraph 19(e)(iii). Except as set forth in the previous sentence,
the compensation provided to you under the applicable LTD plan shall be in lieu of any compensation from the Company (including, but not limited to, the Salary provided under this Agreement or otherwise). Your participation in any other Viacom
benefit plans or programs shall be governed by the terms of the applicable plan or program documents, award agreements and certificates. 
 (b)      With respect to any PSUs for which the applicable performance period for any such award has not ended prior to the date on which benefits commence for you under the LTD program,
the number of shares of Viacom Class B Common Stock to be delivered to you with respect to such PSU award shall be determined based on valuation criteria for such shortened performance period ending on the date on which benefits commence for you
under the LTD program, multiplied by a fraction, the numerator of which is the number of days starting with and inclusive of the first date of the relevant performance period and ending on and inclusive of the date on which benefits commence for you
under the LTD program and the denominator of which is the number of days in the full three-year performance period. Such shares shall be delivered in full settlement of the PSUs in accordance with the PSU Terms and Conditions. Your award will be
forfeited in full, and no shares will be delivered if your employment terminates before the end of the performance period for any reason other than as provided in paragraphs 11, 13 and 14. 
 (c)      All tranches of the 30,000 restricted share units provided for in paragraph 3(d) that are unvested
shall become fully vested on the first day that you are absent due to a LTD and receiving compensation under a Viacom LTD plan. 
 15.      Non-Renewal.    If the Company does not extend or renew this Agreement at the end of the Contract Period and you have not entered into a new contractual relationship with the
Company or Viacom, your continuing employment, if any, with the Company or Viacom shall be “at-will” and may be terminated at any time by either party. If the Company or Viacom terminates your employment during the twelve (12) month
period commencing with the last day of the Contract Period while you are an employee at-will, you shall continue to receive your Salary (at the rate in effect on the date of such termination) for the balance, if any, of such twelve (12) month
period; provided, however, that you shall not be entitled to such Salary continuation if the Company terminates your employment for reasons constituting Cause. You shall be required to Mitigate the amount of any payment under this paragraph 15.

 16.      Severance Plan Election.    In the event that your
employment with the Company terminates pursuant to paragraphs 11 or 15, you may elect to waive all termination compensation and benefits under this Agreement and instead receive the severance compensation and benefits provided under the Viacom
severance plan for which you would have been eligible as a non-contractual employee if you had not entered into this Agreement. If you elect to waive termination compensation and benefits under this Agreement, all other provisions of this Agreement
shall remain in effect, including, without limitation, paragraphs 6, 7, 8 and 9. 

 Denise White 
 September 24, 2007 
  Page
 12
 
  

 17.      Further Events on Termination of
Employment. 
 (a)      Termination of Benefits.    Except as
otherwise expressly provided in this Agreement, your participation in all Viacom benefit plans and programs (including, without limitation, medical and dental coverage, life insurance coverage, vacation accrual, all retirement and the related excess
plans, STD and LTD plans and accidental death and dismemberment and business travel and accident insurance and your rights with respect to any outstanding equity compensation awards) shall be governed by the terms of the applicable plan and program
documents, award agreements and certificates. 
 (b)      Resignation from Official
Positions.    If your employment with the Company terminates for any reason, you shall be deemed to have resigned at that time from any and all officer or director positions that you may have held with the Company or Viacom
and all board seats or other positions in other entities to which you have been designated by the Company or Viacom or which you have held on behalf of the Company or Viacom. If, for any reason, this paragraph 17(b) is deemed insufficient to
effectuate such resignation, you hereby authorize the Secretary and any Assistant Secretary of Viacom Inc. to execute any documents or instruments which Viacom Inc. may deem necessary or desirable to effectuate such resignation or resignations, and
to act as your attorney-in fact. 
 18.      Survival; Remedies. 
 (a)      Survival.    Your obligations under paragraphs 6, 7, 8 and 9 shall
remain in full force and effect for the entire period provided therein notwithstanding the termination of your employment for any reason or the expiration of the Contract Period. 
 (b)      Modification of Terms.    You and the Company acknowledge and agree
that the restrictions and remedies contained in paragraphs 6, 7, 8 and 9 are reasonable and that it is your intention and the intention of the Company that such restrictions and remedies shall be enforceable to the fullest extent permissible by law.
If a court of competent jurisdiction shall find that any such restriction or remedy is unenforceable, but would be enforceable if some part were deleted or modified, then such restriction or remedy shall apply with the deletion or modification
necessary to make it enforceable and shall in no way affect any other provision of this Agreement or the validity or enforceability of this Agreement. 
 (c)      Injunctive Relief.    The Company has entered into this Agreement in order to obtain the benefit of your unique skills, talent, and experience. You
acknowledge and agree that any violation of paragraphs 6, 7, 8 and 9 shall result in irreparable damage to the Company, and, accordingly, the Company may obtain injunctive and other equitable relief for any breach or threatened breach of such
paragraphs, in addition to any other remedies available to the Company. To the extent permitted by applicable law, you hereby waive any right to the posting of a bond in connection with any injunction or other equitable relief sought by the Company
and you agree not to seek such relief in your opposition to any application for relief the Company shall make. 
 (d)      Other Remedies.    In the event that you violate the provisions of paragraphs 6, 7, 8 or 9 at any time during the Non-Competition Period or any period in which the Company is
making payments to you pursuant to this Agreement, (i) any outstanding stock options or other undistributed equity awards granted to you by the Company shall immediately be forfeited, whether vested or unvested; and (ii) the Company’s
obligation to make any further payments or to provide benefits (other than Accrued Compensation and Benefits) to you pursuant to this Agreement shall terminate. The remedies under this paragraph 18 are in addition to any other remedies the Company
may have against you, including under 

 Denise White 
 September 24, 2007 
  Page
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this Agreement or any other agreement, under any equity or other incentive or compensation plan or under applicable law. 
 19.      General Provisions. 
 (a)      Deductions and Withholdings.    In the event of the termination of your
employment for any reason, the Company reserves the right, to the extent permitted by law and in addition to any other remedy the Company may have, to deduct from any monies otherwise payable to you, all monies and the replacement value of any
property you may owe to the Company at the time of or subsequent to the termination of your employment with the Company. To the extent any law requires an employee’s consent to the offset provided in this paragraph and permits such consent to
be obtained in advance, this Agreement shall be deemed to provide the required consent. Except as otherwise expressly provided in this Agreement or in any Company benefit plan, all amounts payable under this Agreement shall be paid in accordance
with the Company’s ordinary payroll practices less deductions and income and payroll tax withholding as may be required under applicable law. Any property (including shares of Viacom Inc. Class B Common Stock), benefits and perquisites provided
to you under this Agreement, including, without limitation, COBRA payments made on your behalf, shall be taxable to you as provided by law. 
 (b)      Cash and Equity Awards Modifications.    Notwithstanding any other provisions of this Agreement to the contrary, the Company reserves the right to
modify or amend unilaterally the terms and conditions of your cash compensation, stock option awards or other equity awards, without first asking your consent, to the extent that the Company considers such modification or amendment necessary or
advisable to comply with any law, regulation, ruling, judicial decision, accounting standard, regulatory guidance or other legal requirement (the “Legal Requirement”) applicable to such cash compensation, stock option awards or
other equity awards, provided that, except where necessary to comply with law, such amendment does not have a material adverse effect on the value of such compensation award to you. In addition, the Company may, without your consent, amend or modify
your cash compensation, stock option awards or other equity awards in any manner that the Company considers necessary or advisable to ensure that such cash compensation, stock option awards or other equity awards are not subject to United States
federal income tax, state or local income tax or any equivalent taxes in territories outside the United States prior to payment, exercise, vesting or settlement, as applicable, or any tax, interest or penalties pursuant to Section 409A of the
Code, the regulations promulgated thereunder or any related guidance issued by the U.S. Treasury Department. In addition, if any provision of this Agreement contravenes Section 409A of the Code, the Company may reform this Agreement or any
provision hereof to maintain to the maximum extent practicable the original intent of the provision without violating the provisions of Section 409A of the Code. 
 (c)      Mitigation and Offset.    Where this Agreement requires you to mitigate (“Mitigate” or
“Mitigation”) any payment, you shall be required to seek other employment. The amount of payments provided in such provision shall be reduced by any compensation for services earned by you (including as an independent consultant or
independent contractor) from any source in respect of any period during which the Company is required to make payments to you pursuant to paragraph 11 or 15 (the “Offset Period”), including, without limitation, salary, sign-on or
annual bonus (regardless of when paid), consulting fees, commission payments and any amounts the payment of which is deferred at your election, or with your consent, until after the expiration of the Offset Period, and shall be further reduced by
the present value, as reasonably determined by the Company, of any long-term compensation you receive that is greater than you likely would have received from the Company based on the Company’s historic practices, prorating the value of such
long-term compensation over the term of service required to vest therein. You agree to promptly notify the Company of any arrangements during the Offset Period in 

 Denise White 
 September 24, 2007 
  Page
 14
 
  

 
which you perform services for pay and to cooperate fully with the Company in determining the amount of any such reduction. 
 (d)      No Duplicative Payments.    The payments and benefits provided in this
Agreement in respect to the termination of employment and non-renewal of this Agreement are in lieu of any other salary, bonus or benefits payable by the Company, including, without limitation, any severance or income continuation or protection
under any Viacom plan that may now or hereafter exist. All such payments and benefits shall constitute liquidated damages, paid in full and final settlement of all obligations of Viacom to you under this Agreement. 
 (e)      Payment of Bonus Compensation. 
  

	 	 (i)
	 The Bonus for any calendar year under this Agreement shall be payable by March 15th of the following year. 

  

	 	(ii)	 Except as otherwise expressly provided in this Agreement, your Bonus shall be prorated to apply only to that part of the calendar year which falls within the
Contract Period (a “Pro-Rated Bonus”). 

  

	 	(iii)	 Any Bonus or Pro-Rated Bonus payable pursuant to paragraphs 11, 13 or 14 shall be paid at your Target Bonus amount, adjusted based on the Company Performance
Factor for the relevant year; provided, however, that the Company Performance Factor shall be deemed to be the Company’s actual performance factor, but not to exceed 100%. 

 (f)      Parachute Payment Adjustments.    Notwithstanding anything herein to
the contrary, in the event that you receive any payments or distributions, whether payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, that constitute “parachute payments” within the meaning of
Section 280G of the Code, and the net after-tax amount of the parachute payment is less than the net after-tax amount if the aggregate payment to be made to you were three times your “base amount” (as defined in
Section 280G(b)(3) of the Code) less $1.00, then the aggregate of the amounts constituting the parachute payment shall be reduced to an amount that shall equal three times your base amount, less $1.00. The determinations to be made with respect
to this paragraph 19(f) shall be made by a certified public accounting firm designated by the Company and reasonably acceptable to you. 
 (g)      Adjustments to Bonuses and Long-Term Incentive Compensation.    Notwithstanding anything herein to the contrary, the Company shall be entitled to
adjust the amount of any Bonus or any award of long-term incentive compensation if the financial statements of Viacom or the business unit on which the calculation or determination of the Bonus or award of long-term incentive compensation were based
are subsequently restated and, in the judgment of the Company, the financial statements as so restated would have resulted in a smaller Bonus or long-term incentive compensation award if such information had been known at the time the Bonus or award
had originally been calculated or determined. In addition, in the event of such a restatement: (i) the Company may require you, and you agree, to repay to the Company the amount by which the Bonus as originally calculated or determined exceeds
the Bonus as adjusted pursuant to the preceding sentence; and (ii) the Company may cancel, without any payment therefor, the portion of any award of long-term incentive compensation that exceeds the award adjusted pursuant to the preceding
sentence (or, if such portion of an award cannot be canceled because (x) in the case of stock options or other similar awards, you have previously exercised it, the Company may required you, and you agree, to repay to the Company the amount,
net of any exercise price, that you 

 Denise White 
 September 24, 2007 
  Page
 15
 
  

 
realized upon exercise or (y) in the case of restricted share units or other similar awards, shares of Class B Common Stock were delivered to you in
settlement of such award, the Company may require you, and you agree to return the shares of Class B Common Stock, or if such shares were sold by you, return any proceeds realized on the sale of such shares). 
 (h)      Mediation.    Prior to the commencement of any legal proceeding
relating to your employment, you and the Company agree to attempt to mediate the dispute using a professional mediator from the American Arbitration Association (“AAA”) or the International Institute for Conflict Prevention and
Resolution (“CPR”). Within a period of 30 days after a written request for mediation by either you or the Company, the parties agree to convene with the mediator, for at least one session to attempt to resolve the matter. In no
event will mediation delay commencement of any legal proceeding for more than 30 days absent agreement of the parties or prevent a bona fide application by either party to a court of competent jurisdiction for emergency relief. The fees of the
mediator and of the AAA or CPR, as the case may be, shall be borne by the Company. 
 20.      Additional Representations and Acknowledgments. 
 (a)      No Acceptance of Payments.    You represent that you have not accepted or given nor shall you accept or give, directly or indirectly, any money, services or other valuable
consideration from or to anyone other than the Company or Viacom for the inclusion of any matter as part of any film, television, internet or other programming produced, distributed and/or developed by Viacom. 
 (b)      Viacom Policies.    You recognize that the Company is an equal
opportunity employer. You agree that you shall comply with the Company’s employment practices and policies, as they may be amended from time to time, and with all applicable federal, state and local laws prohibiting discrimination on any basis.
In addition, you agree that you shall comply with the Viacom Inc. Business Conduct Statement and Viacom’s other policies and procedures, as they may be amended from time to time, and provide the certifications and conflict of interest
disclosures required by the Viacom Inc. Business Conduct Statement. 
 (c)      No
Restriction on Employment.    You represent that (i) you have disclosed to the Company all employment agreements, covenants and restrictions to which you are or have been a party; and (ii) you are not subject to any
covenant, agreement or restriction (including, but not limited to, a covenant of non competition) with or by any third party that would prevent you from beginning your employment on September 24, 2007 and thereafter performing your duties and
responsibilities for the Company, or would impinge upon, interfere with, or restrict your ability to perform your duties or responsibilities for the Company under this Agreement. 
 21.      Notices.    Notices under this Agreement must be given in writing, by
personal delivery, regular mail or receipted email, at the parties’ respective addresses shown on this Agreement (or any other address designated in writing by either party), with a copy, in the case of the Company, to the attention of Viacom
Inc.’s General Counsel. Any notice given by regular mail shall be deemed to have been given three (3) days following such mailing. 
 22.      Binding Effect; Assignment.    This Agreement and rights and obligations of the Company hereunder shall not be assigned by the Company, provided that
the Company may assign this Agreement to any subsidiary or affiliated company of or any successor in interest to the Company. This Agreement is for the performance of personal services by you and may not be assigned by you, except 

 Denise White 
 September 24, 2007 
  Page
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that the rights specified in Section 13 shall pass upon your death to your designated beneficiary (or, if there is no such beneficiary, your estate).

 23.      GOVERNING LAW AND FORUM.    You acknowledge
that this agreement has been executed, in whole or in part, in New York. Accordingly, you agree that this Agreement and all matters or issues arising out of or relating to your employment with the Company shall be governed by the laws of the State
of New York applicable to contracts entered into and performed entirely therein. Any action to enforce this Agreement shall be brought solely in the state or federal courts located in the City of New York, Borough of Manhattan. 
 24.      No Implied Contract.    Nothing contained in this Agreement shall be
construed to impose any obligation on the Company or you to renew this Agreement or any portion hereof or on the Company to establish or maintain any benefit, welfare or compensation plan or program or to prevent the modification or termination of
any benefit, welfare or compensation plan or program or any action or inaction with respect to any such benefit, welfare or compensation plan or program. The parties intend to be bound only upon full execution of a written agreement by both parties
and no negotiation, exchange of draft, partial performance or tender of an agreement (including any extension or renewal of this Agreement) executed by one party shall be deemed to imply an agreement or the renewal or extension of any agreement
relating to your employment with the Company. Neither the continuation of employment nor any other conduct shall be deemed to imply a continuing agreement upon the expiration of the Contract Period. 
 25.      Entire Understanding.    This Agreement contains the entire
understanding of the parties hereto relating to the subject matter contained in this Agreement, and can be changed only by a writing signed by both parties. 

 Denise White 
 September 24, 2007 
  Page
 17
 
  

 Please confirm your understanding of the Agreement by signing and returning all five
(5) copies of this Agreement. This document shall constitute a binding agreement between us only after it also has been executed by the Company and a fully executed copy has been returned to you. 
  

			
	 Very truly yours,

	
	 VIACOM INC.

		
	 By:
	 	   /s/ Thomas E.
Dooley                    

		 	 Thomas E. Dooley

		 	 Senior Executive Vice President,
 Chief Administrative Officer &
 Chief Financial Officer

  

	
	 ACCEPTED AND AGREED:

	
	   /s/ Denise
White                    

	 Denise White

	
	 Dated:
                                

 Appendix A 
 Denise White 
 c/o Viacom Inc. 
 1515 Broadway 
 New York, NY 10036 
 This General Release of all Claims (this “Agreement”) is entered into by Denise White (the “Executive”) and Viacom Inc. (the “Company”), 1515
Broadway, New York, New York, 10036, effective as of
                                        .

 In consideration of the promises set forth in the letter agreement between the Executive and the Company, dated
September 24, 2007 (the “Employment Agreement”), the Executive and the Company agree as follows: 
 1.        Return of Property.    All Company files, access keys and codes, desk keys, ID badges, computers, records, manuals, electronic devices, computer programs, papers,
electronically stored information or documents, telephones and credit cards, and any other property of the Company in the Executive’s possession must be returned no later than the date of the Executive’s termination from the Company.

 2.        General Release and Waiver of Claims. 
 (a)      Release.    In consideration of the payments and benefits provided to
the Executive under the Employment Agreement and after consultation with counsel, the Executive and each of the Executive’s respective heirs, executors, administrators, representatives, agents, insurers, successors and assigns (collectively,
the “Releasors”) hereby irrevocably and unconditionally release and forever discharge the Company, its subsidiaries and affiliates and each of their respective officers, employees, directors, shareholders and agents
(“Releasees”) from any and all claims, actions, causes of action, rights, judgments, obligations, damages, demands, accountings or liabilities of whatever kind or character (collectively, “Claims”), including,
without limitation, any Claims under any federal, state, local or foreign law, that the Releasors may have, or in the future may possess, arising out of (i) the Executive’s employment relationship with and service as an employee, officer
or director of the Company, Viacom (as defined in the Employment Agreement) or any subsidiaries or affiliated companies and the termination of such relationship or service, and (ii) any event, condition, circumstance or obligation that
occurred, existed or arose on or prior to the date hereof; provided, however, that the Executive does not release, discharge or waive any rights to (i) payments and benefits provided under the Employment Agreement that are contingent upon the
execution by the Executive of this Agreement and (ii) any indemnification rights the Executive may have in accordance with the Company’s governance instruments or under any director and officer liability insurance maintained by the Company
with respect to liabilities arising as a result of the Executive’s service as an officer and employee of the Company. 
 (b)      Specific Release of ADEA Claims.    In further consideration of the payments and benefits provided to the Executive under the Employment Agreement, the Releasors hereby
unconditionally release and forever discharge the Releasees from any and all Claims that the Releasors may have as of the date the Executive signs this Agreement arising under the Federal Age Discrimination in Employment Act of 1967, as amended, and
the applicable rules and regulations promulgated thereunder (“ADEA”). By signing this Agreement, the Executive hereby acknowledges and confirms the following: (i) the Executive was advised by the Company in connection with her
termination to consult with an attorney of her choice prior to signing this Agreement and to have such attorney explain to the Executive the terms of this Agreement, including, without limitation, the terms relating to the Executive’s 

  

 A-1 

 
release of claims arising under ADEA, and the Executive has in fact consulted with an attorney; (ii) the Executive was given a period of not fewer than
21 days to consider the terms of this Agreement and to consult with an attorney of her choosing with respect thereto; (iii) the Executive knowingly and voluntarily accepts the terms of this Agreement; and (iv) the Executive is providing
this release and discharge only in exchange for consideration in addition to anything of value to which the Executive is already entitled. The Executive also understands that she has seven (7) days following the date on which she signs this
Agreement within which to revoke the release contained in this paragraph, by providing the Company a written notice of her revocation of the release and waiver contained in this paragraph. 
 (c)      No Assignment.    The Executive represents and warrants that she has
not assigned any of the Claims being released under this Agreement. The Company may assign this Agreement, in whole or in part, to any affiliated company or subsidiary of, or any successor in interest to, the Company. 
 3.        Proceedings.    The Executive has not filed, and agrees not
to initiate or cause to be initiated on her behalf, any complaint, charge, claim or proceeding against the Releasees before any local, state or federal agency, court or other body relating to her employment or the termination of her employment,
other than with respect to the obligations of the Company to the Executive under the Employment Agreement (each, individually, a “Proceeding”), and agrees not to participate voluntarily in any Proceeding. The Executive waives any right she
may have to benefit in any manner from any relief (whether monetary or otherwise) arising out of any Proceeding. 
 4.        Remedies.    In the event the Executive initiates or voluntarily participates in any Proceeding, or if she fails to abide by any of the terms of this Agreement or
her post-termination obligations contained in the Employment Agreement, or if she revokes the ADEA release contained in paragraph 2(b) within the seven-day period provided under paragraph 2(b), the Company may, in addition to any other remedies it
may have, reclaim any amounts paid to her under the termination provisions of the Employment Agreement or terminate any benefits or payments that are subsequently due under the Employment Agreement, without waiving the release granted herein. The
Executive acknowledges and agrees that the remedy at law available to the Company for breach of any of her post-termination obligations under the Employment Agreement or her obligations under paragraphs 2 and 3 herein would be inadequate and that
damages flowing from such a breach may not readily be susceptible to being measured in monetary terms. Accordingly, the Executive acknowledges, consents and agrees that, in addition to any other rights or remedies that the Company may have at law or
in equity or as may otherwise be set forth in the Employment Agreement, the Company shall be entitled to seek a temporary restraining order or a preliminary or permanent injunction, or both, without bond or other security, restraining the Executive
from breaching her post-termination obligations under the Employment Agreement or her obligations under paragraphs 2 and 3 herein. Such injunctive relief in any court shall be available to the Company, in lieu of, or prior to or pending
determination in, any arbitration proceeding. 
 The Executive understands that by entering into this Agreement she shall be
limiting the availability of certain remedies that she may have against the Company and limiting also her ability to pursue certain claims against the Company. 
 5.        Severability Clause.    In the event any provision or part of this Agreement is found to be invalid or unenforceable,
only that particular provision or part so found, and not the entire Agreement, shall be inoperative. 
 6.        Nonadmission.    Nothing contained in this Agreement shall be deemed or construed as an admission of wrongdoing or liability on the part of the Company.

  

 A-2 

 7.        GOVERNING LAW AND
FORUM.    You acknowledge that this agreement has been executed, in whole or in part, in New York. Accordingly, you agree that this Agreement and all matters or issues arising out of or relating to your employment with the
Company shall be governed by the laws of the State of New York applicable to contracts entered into and performed entirely therein. Any action to enforce this Agreement shall be brought solely in the state or federal courts located in the City of
New York, Borough of Manhattan. 
 8.        Notices.    Notices under this Agreement must be given in writing, by personal delivery, regular mail or receipted email, at the parties’ respective addresses
shown on this Agreement (or any other address designated in writing by either party), with a copy, in the case of the Company, to the attention of Viacom Inc.’s General Counsel. Any notice given by regular mail shall be deemed to have been
given three (3) days following such mailing. 
 THE EXECUTIVE ACKNOWLEDGES THAT SHE HAS READ THIS AGREEMENT AND THAT
SHE FULLY KNOWS, UNDERSTANDS AND APPRECIATES ITS CONTENTS, AND THAT SHE HEREBY EXECUTES THE SAME AND MAKES THIS AGREEMENT AND THE RELEASE AND AGREEMENTS PROVIDED FOR HEREIN VOLUNTARILY AND OF HER OWN FREE WILL. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above. 
  

			
	 VIACOM INC.

		
	 By:
	 	  

		 	 Thomas E. Dooley

		 	 Senior Executive Vice President,
 Chief Administrative Officer &
 Chief Financial Officer

	
	 THE EXECUTIVE

	
	  

	 Denise White

			
		
	 Dated:
	 	  

  

 A-3Officers' Certificate, dated February 12, 2009

 Exhibit 4.2 
 OFFICERS’ CERTIFICATE 
 The undersigned, McKesson Corporation, a Delaware corporation
(the “Company”), hereby certifies through Nicholas A. Loiacono, its Vice President and Treasurer, and Jeffrey C. Campbell, Executive Vice President and Chief Financial Officer, pursuant to Sections 2.1, 2.3 and 11.5 of the Indenture, dated
as of March 5, 2007 (the “Indenture”), by and between the Company, as Issuer, and The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), a national banking association, as
Trustee, as follows: 
 1. The form and terms of the 6.50% Notes due 2014 (the “2014 Notes”), as set forth on Annex A
attached hereto, and the form and terms of the 7.50% Notes due 2019 (the “2019 Notes”), as set forth on Annex B attached hereto, have been established pursuant to Sections 2.1 and 2.3 of the Indenture and comply with the Indenture.

 2. The undersigned has read the Indenture. 
 3. The statements made in this certificate are based upon an examination of the 2014 Notes and the 2019 Notes under the Indenture, upon an examination of and familiarity with the Indenture, upon my general knowledge
of and familiarity with the operations of the Company and upon the performance of my duties as an officer of the Company. 
 4. In the
opinion of the undersigned, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not the covenants and conditions provided for in the Indenture have been complied with.

 5. In the opinion of the undersigned, with respect to the foregoing, the covenants and conditions provided for in the Indenture have been
complied with. 
 Capitalized terms used herein without definition have the meanings assigned to them in the Indenture. 

 IN WITNESS WHEREOF, the undersigned has caused this certificate to be executed by its duly authorized
officers as of this 12th day of February, 2009. 
  

			
	McKESSON CORPORATION
		
	By:	 	/s/ Nicholas A. Loiacono
	Name:	 	Nicholas A. Loiacono
	Title:	 	Vice President and Treasurer
		
	By:	 	/s/ Jeffrey C. Campbell
	Name:	 	Jeffrey C. Campbell
	Title:	 	Executive Vice President and Chief Financial Officer

 [Signature Page to Officers’ Certificate under the Indenture] 

 ANNEX A 
 Pursuant to Section 2.3 of the Indenture, dated as of March 5, 2007 (the “Indenture”), between McKesson Corporation (the “Issuer”) and The Bank of New York Mellon Trust Company, N.A.
(formerly known as The Bank of New York Trust Company, N.A.), a national banking association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 
  

	 	1.	Designation. The designation of the securities is “6.50% Notes due February 15, 2014” (the “2014 Notes”). 

  

	 	2.	Initial Aggregate Principal Amount. The 2014 Notes shall be limited in initial aggregate principal amount to $350,000,000 (except for 2014 Notes authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other 2014 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture). 

  

	 	3.	Currency Denomination. The 2014 Notes shall be denominated in Dollars. 

  

	 	4.	Maturity. The date on which the principal of the 2014 Notes is payable is February 15, 2014. 

  

	 	5.	Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2014 Note shall bear interest from February 12, 2009 at 6.50% per annum until the principal
thereof is paid. Such interest shall be payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2009, to the persons in whose names the 2014 Notes are registered at the close of business on
the immediately preceding February 1 and August 1, respectively. Interest on the 2014 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from February 12, 2009. Interest on
the 2014 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which principal, premium, if any, or interest is payable on the 2014 Notes is not a Business Day, then payment of the
principal, premium, if any, or 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). 

  

	 	6.	Place of Payment. Principal of, premium, if any, and interest on the 2014 Notes shall be payable, and the transfer of the 2014 Notes shall be registrable, at the office or
agency of the Issuer to be maintained for such purpose in the Borough of Manhattan, The City of New York, except that, at the option of the Issuer, interest may be paid by mailing a check to the address of the person entitled thereto as it appears
on the 2014 Notes register; provided, however, that while any 2014 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2014 Notes may be made by wire transfer to the
account of the Depositary or its nominee. 

  

 A-1 

	 	7.	Optional Redemption. The 2014 Notes may be redeemed, in whole, at any time, or in part, from time to time, at the option of the Issuer, for cash, at a redemption price equal
to the greater of (i) 100% of their principal amount and (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any
portion of such payments of interest accrued to 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 50 basis points, plus, in
each case, accrued interest thereon to the date of redemption. Notwithstanding the foregoing, installments of interest on 2014 Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the
interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the 2014 Notes to be redeemed will receive notice thereof at least 30 and not more than 60 days prior to the date fixed for
redemption. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the 2014 Notes or portions thereof called for redemption. If less than all of the 2014 Notes are to be
redeemed, the 2014 Notes to be redeemed will be selected by the Trustee by a method the Trustee deems to be fair and appropriate. 

 “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 2014 Notes 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 2014 Notes. 
 “Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of
such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer. 
  

 A-2 

 “Reference Treasury Dealer” means (i) Banc of America Securities LLC and J.P. Morgan
Securities Inc. (and their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New
York City (a “Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined
by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer 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 on such
redemption date. 
  

	 	8.	Change of Control. If a Change of Control Triggering Event occurs, unless the Issuer has exercised its right to redeem the 2014 Notes as described above, holders of the 2014
Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their 2014 Notes pursuant to the offer described below (the “Change of Control Offer”). In the
Change of Control Offer, the Issuer will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of 2014 Notes repurchased plus accrued and unpaid interest, if any, on the 2014 Notes repurchased, to, but
not including, the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the 2014 Notes describing the transaction or
transactions that constitute the Change of Control Triggering Event and offering to repurchase the 2014 Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is
mailed (the “Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the 2014 Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations
conflict with the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions herein by
virtue of such conflicts. 

  

 A-3 

 Notwithstanding the foregoing, the Issuer will not be required to make a Change of Control Offer upon the
occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for a Change of Control Offer made by the Issuer and the third party repurchases
all 2014 Notes properly tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any 2014 Notes if there has occurred and is continuing on the Change of Control Payment Date an event of default under the Indenture,
other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 
 On the Change of Control
Payment Date, the Issuer will be required, to the extent lawful, to (i) accept for payment all 2014 Notes or portions thereof properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent an amount equal to
the Change of Control Payment in respect of all 2014 Notes or portions thereof properly tendered; and (iii) deliver or cause to be delivered to the Trustee the 2014 Notes properly accepted together with an Officer’s Certificate stating the
aggregate principal amount of 2014 Notes or portions of 2014 Notes being purchased. 
 “Below Investment Grade Rating Event” means
the 2014 Notes are rated below an Investment Grade Rating by each of the Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period
following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the 2014 Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies).

 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other 

than the Issuer or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation)
the result of which is that any Person becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of
the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and
(ii) the holders of the voting stock of such holding company immediately following that transaction are substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
  

 A-4 

 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event. 
 “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Issuer who (1) was a member of such Board of Directors on the date of original issue of the 2014 Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a
director, without objection to such nomination). 
 “Fitch” means Fitch Ratings. 
 “Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and
BBB- (or the equivalent) by S&P. 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Person” has the meaning set forth in the Indenture and includes a “person” as used in Section 13(d)(3) of the Exchange Act.

 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or S&P
ceases to rate the 2014 Notes or fails to make a rating of the 2014 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Issuer (as certified by a Board Resolution) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
  

	 	9.	Mandatory Redemption. The 2014 Notes are not mandatorily redeemable and are not entitled to the benefit of a sinking fund or any analogous provisions.

  

	 	10.	Denominations. The 2014 Notes shall be issued initially in minimum denominations of $1,000 and shall be issued in integral multiples of $1,000 in excess thereof.

  

 A-5 

	 	11.	Amount Payable Upon Acceleration. The principal of the 2014 Notes shall be payable upon declaration of acceleration pursuant to Section 5.1 of the Indenture.

  

	 	12.	Payment Currency. Principal and interest on the 2014 Notes shall be payable in Dollars. 

  

	 	13.	Payment Currency - Election. The principal of and interest on the 2014 Notes shall not be payable in a currency other than Dollars. 

  

	 	14.	Payment Currency - Index. The principal of and interest on the 2014 Notes shall not be determined with reference to an index based on a coin or currency.

  

	 	15.	Registered Securities. The 2014 Notes shall be issued only as Registered Securities. The 2014 Notes shall be issuable as Registered Global Securities.

  

	 	16.	Additional Amounts. The Issuer shall not pay additional amounts on the 2014 Notes held by a Person that is not a U.S. Person in respect of taxes or similar charges withheld
or deducted. 

  

	 	17.	Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2014 Notes in definitive form. 

  

	 	18.	Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying agent for the 2014 Notes. The Depository Trust Company shall initially
serve as the Depositary for the Registered Global Security representing the 2014 Notes. 

  

	 	19.	Events of Default; Covenants. There shall be no deletions from or modifications or additions to the Events of Default set forth in Section 5.1 of the Indenture with
respect to the 2014 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the Indenture with respect to the 2014 Notes: 

 Limitation on Liens. The Issuer covenants that, so long as any of the 2014 Notes remain outstanding, it shall not, nor shall it permit any
Consolidated Subsidiary to, create or assume any Indebtedness for money borrowed which is secured by a mortgage, pledge, security interest or lien (“liens”) of or upon any assets, whether now owned or hereafter acquired, of the Issuer or
any such Consolidated Subsidiary without equally and ratably securing the 2014 Notes by a lien ranking equally to and ratably with (or at the option of the Issuer, senior to) such secured Indebtedness, except that the foregoing restriction shall not
apply to (a) liens on any assets of 

  

 A-6 

 
any corporation existing at the time such corporation becomes a Consolidated Subsidiary; (b) liens on any assets existing at the time of acquisition of
such assets by the Issuer or a Consolidated Subsidiary, or liens to secure the payment of all or any part of the purchase price of such assets upon the acquisition of such assets by the Issuer or a Consolidated Subsidiary or to secure any
indebtedness incurred or guaranteed by the Issuer or a Consolidated Subsidiary prior to, at the time of, or within 360 days after such acquisition (or in the case of real property, the completion of construction (including any improvements on an
existing asset) or commencement of full operation of such asset, whichever is later), which indebtedness is incurred or guaranteed for the purpose of financing all or any part of the purchase price thereof or, in the case of real property,
construction or improvements thereon; (c) liens on any assets securing indebtedness owed by any Consolidated Subsidiary to the Issuer or another wholly owned Subsidiary; (d) liens on any assets of a corporation existing at the time such
corporation is merged into or consolidated with the Issuer or a Subsidiary or at the time of a purchase, lease or other acquisition of the assets of a corporation or firm as an entirety or substantially as an entirety by the Issuer or a Subsidiary;
(e) liens on any assets of the Issuer or a Consolidated Subsidiary in favor of the United States of America or any state thereof, or any department, agency or instrumentality or political subdivision of the United States of America or any State
thereof, or in favor of any other country, or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred or guaranteed for the purpose of
financing all or any part of the purchase price (or, in the case of real property, the cost of construction) of the assets subject to such liens (including, but not limited to, liens incurred in connection with pollution control, industrial revenue
or similar financing); (f) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any lien referred to in the foregoing clauses (a) to (e), inclusive; (g) liens imposed by
law, such as mechanics’, workmen’s, repairmen’s, materialmen’s, carriers’, warehousemen’s, vendors’ or other similar liens arising in the ordinary course of business, or governmental (federal, state or municipal)
liens arising out of contracts for the sale of products or services by the Issuer or any Consolidated Subsidiary, or deposits or pledges to obtain the release of any of the foregoing liens; (h) pledges, liens or deposits under worker’s
compensation laws or similar legislation and liens or judgments thereunder which are not currently dischargeable, or in connection with bids, tenders, contracts (other than for the payment of money) or leases to which the Issuer or any Consolidated
Subsidiary is a party, or to secure public or statutory obligations of the Issuer or any Consolidated Subsidiary, or in connection with obtaining or maintaining self-insurance or to obtain the benefits of any law, regulation or arrangement
pertaining to unemployment insurance, old age pensions, social security or similar 

  

 A-7 

 
matters, or to secure surety, appeal or customs bonds to which the Issuer or any Consolidated Subsidiary is a party, or in litigation or other proceedings
such as, but not limited to, interpleader proceedings, and other similar pledges, liens or deposits made or incurred in the ordinary course of business; (i) liens created by or resulting from any litigation or other proceeding which is being
contested in good faith by appropriate proceedings, including liens arising out of judgments or awards against the Issuer or any Consolidated Subsidiary with respect to which the Issuer or such Consolidated Subsidiary is in good faith prosecuting an
appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final unappealable judgment liens which are satisfied within 15 days of the date of judgment; or liens incurred by the Issuer or any Consolidated
Subsidiary for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such Consolidated Subsidiary is a party; (j) liens for taxes or assessments or governmental charges or levies
not yet due or delinquent, or which can thereafter be paid without penalty, or which are being contested in good faith by appropriate proceedings; landlord’s liens on property held under lease; and any other liens or charges incidental to the
conduct of the business of the Issuer or any Consolidated Subsidiary or the ownership of the assets of any of them which were not incurred in connection with the borrowing of money or the obtaining of advances or credit and which do not, in the
opinion of the Issuer, materially impair the use of such assets in the operation of the business of the Issuer or such Consolidated Subsidiary or the value of such assets for the purposes thereof; or (k) liens relating to accounts receivable of
the Issuer or any of its Subsidiaries which have been sold, assigned or otherwise transferred to another Person in a transaction classified as a sale of accounts receivable in accordance with accounting principles generally accepted in the United
States of America (to the extent the sale by the Issuer or the applicable Subsidiary is deemed to give rise to a lien in favor of the purchaser thereof in such accounts receivable or the proceeds thereof). Notwithstanding the above, the Issuer or
any Consolidated Subsidiary may, without securing the 2014 Notes, create or assume any Indebtedness which is secured by a lien which would otherwise be subject to the foregoing restrictions, provided that at the time of such creation or assumption,
after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally accepted in the United States of America.

 Limitation on Sale and Lease-Back Transactions. The Issuer covenants that, so long as any of the 2014 Notes remain outstanding, the
Issuer will not, nor shall the Issuer permit any Consolidated Subsidiary to, enter into any sale and lease-back transaction with respect to any assets, other than any sale and lease-back transaction involving a lease for a term of not more than
three years, unless either (a) the Issuer or such Consolidated 

  

 A-8 

 
Subsidiary would be entitled to incur Indebtedness secured by a lien on the assets to be leased in an amount at least equal to the Attributable Debt in
respect of such transaction without equally and ratably securing the 2014 Notes pursuant to clauses (a) through (k) inclusive of the covenant with respect to “Limitation on Liens” above, or (b) the proceeds of the sale of
the assets to be leased are at least equal to their fair market value (as determined by the Board of Directors of the Issuer) and the proceeds are applied to the purchase or acquisition (or, in the case of real property, the construction) of assets
or to the retirement (other than at maturity or pursuant to a mandatory sinking fund or mandatory redemption provision) of indebtedness. The foregoing limitation shall not apply, if at the time the Issuer or any Consolidated Subsidiary enters into
such sale and lease-back transaction, and after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally
accepted in the United States of America. 
 The term “Attributable Debt” in connection with a sale and lease-back transaction shall
mean, as of the date of determination, the lesser of (a) the fair value of the assets subject to such transaction, as determined by the Board of Directors of the Issuer, or (b) the present value (discounted at the rate of interest set
forth in or implicit in the terms of such lease or, if it is not practicable to determine such rate, the weighted average interest rate per annum borne by all series of Securities then Outstanding and subject to the “Limitation on Sale and
Lease-Back Transactions” covenant above compounded semi-annually, in either case as determined by the principal accounting or financial officer of the Issuer) of the obligations of the Issuer or any Consolidated Subsidiary for net rental
payments during the remaining term of all leases (including any period for which such lease has been extended or may, at the option of the lessor, be extended). 
 The term “Consolidated Subsidiary” shall mean any Subsidiary substantially all the property of which is located, and substantially all the operations of which are conducted, in the United States of America
whose financial statements are consolidated with those of the Issuer in accordance with accounting principles generally accepted in the United States of America. 
 The term “Exempted Debt” shall mean the sum of the following as of the date of determination: (i) Indebtedness of the Issuer and its Consolidated Subsidiaries incurred after the date of issuance of the
Notes and secured by liens not permitted to be created or assumed pursuant to the covenant with respect to “Limitation on Liens” above, and (ii) Attributable Debt of the Issuer and its Consolidated Subsidiaries in respect of every
sale and lease-back transaction entered into after the date of issuance of the Notes, other than leases expressly permitted by the covenant with respect to “Limitation on Sale and Lease-Back Transactions” above. 
  

 A-9 

 The term “Indebtedness” shall mean all items classified as indebtedness on the most recently
available consolidated balance sheet of the Issuer and its Consolidated Subsidiaries, in accordance with accounting principles generally accepted in the United States of America. 
 The term “net rental payments” under any lease of any period shall mean the sum of the rental and other payments required to be paid in such
period by the lessee thereunder, not including, however, any amounts required to be paid by such lessee (whether or not designated as rental or additional rental) on account of maintenance and repairs, reconstruction, insurance, taxes, assessments,
water rates or similar charges required to be paid by such lessee thereunder or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales, maintenance and repairs, reconstruction, insurance, taxes, assessments,
water rates or similar charges. 
  

	 	20.	Conversion and Exchange. The 2014 Notes shall not be convertible into or exchangeable for any other security. 

  

	 	21.	Additional Issues. The Issuer may, without notice to or the consent of the holders of the 2014 Notes, create and issue additional notes ranking equally and ratably with the
2014 Notes in all respects, or in all respects except for the payment of interest accruing prior to the issue date of such additional notes. Such additional notes shall be consolidated and form a single series with the 2014 Notes and shall have the
same terms as to status, redemption or otherwise as the 2014 Notes. 

  

	 	22.	Other Terms. The 2014 Notes shall have the other terms and shall be substantially in the form set forth in the form of the 2014 Notes attached hereto as Annex A-1. In case of
any conflict between this Annex A and the 2014 Notes, the form of the 2014 Notes shall control. 

 Capitalized terms used but
not otherwise defined in this Annex A shall have the respective meanings ascribed to such terms in the Indenture. 
  

 A-10 

 ANNEX A-1 
 [FORM OF 2014 NOTE] 

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) 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 THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE &
CO., 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. TRANSFERS OF THIS REGISTERED GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 
  

			
	No. 1	  	CUSIP NO. 581557 AW5

 McKESSON CORPORATION 
 6.50% NOTES DUE FEBRUARY 15, 2014 
 McKesson Corporation, a Delaware corporation (the
“Issuer,” 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 Fifty
Million Dollars ($350,000,000) on February 15, 2014 and to pay interest on said principal sum from February 12, 2009, or from the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in
arrears on February 15 and August 15 (each such date, an “Interest Payment Date”) of each year commencing on August 15, 2009, at the rate of 6.50% per annum until the principal hereof shall have become due and payable.

 The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day
months. In the event that any date on which the principal or interest payable on this Note is not a Business Day, then payment of principal or 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 such delay). The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to
the person in whose name this Note is registered at the close of business on the record date for such interest installment, which shall be the close of business on the immediately preceding February 1 and August 1 prior to such Interest
Payment Date, as applicable. Any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered holders on such record date and may be paid to the person in whose name this Note is registered
at the close of business on a subsequent record date (which shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be given by mail by or on behalf of the Issuer to the registered
holders of Notes not less than 15 days preceding such subsequent record date, all as more fully provided in the 

 
Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the Issuer 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 Issuer by check mailed to the person
entitled thereto at such address as shall appear in the registry books of the Issuer; provided, further, that for so long as this Note is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this
Note may be made by wire transfer to the account of the Depositary or its nominee. 
 Unless the certificate of authentication hereon has
been executed by or on behalf of the Trustee (as defined below) under the Indenture (as defined below), by the manual signature of one of its authorized officers, this Note shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose. 
 Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings
assigned to them in the Indenture. 
 The provisions of this Note are continued on the reverse side hereof and such continued provisions
shall for all purposes have the same effect as though fully set forth at this place. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or in facsimile,
and an imprint or facsimile of its corporate seal to be imprinted hereon. 
  

			
	McKESSON CORPORATION
		
	By:	 	 
	Name:	 	Nicholas A. Loiacono
	Title:	 	Vice President and Treasurer

 Attest: 
  

					
	By: 	 	 
		 	Name:	 	
		 	Title:	 	
	
	 CERTIFICATE OF AUTHENTICATION
 This is one of
the Securities referred to in the
 within-mentioned Indenture.

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

					
		
	Dated: 	 	 

 [REVERSE SIDE OF NOTE] 
 This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 6.50% Notes due February 15,
2014 (the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of March 5, 2007 (the “Indenture”), duly executed and delivered between the Issuer and The Bank of New York
Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), a national banking association (the “Trustee,” which term includes any successor Trustee with respect to the Securities under the Indenture), to which
the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Trustee and the holders of the Securities and the terms upon which the Notes are to be
authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue dates, maturity, redemption, repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered Securities in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. As provided
in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes as requested by the holder surrendering the same. 
 Except as set forth below, this Note is not redeemable and is not entitled to the benefit of a sinking fund or any analogous provision. 
 The Notes may be redeemed, in whole, at any time, or in part, from time to time, at the option of the Issuer, for cash, at a redemption price equal to
the greater of (i) 100% of their principal amount and (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any
portion of such payments of interest accrued to 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 50 basis points, plus, in
each case, accrued interest thereon to the date of redemption. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the
interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the Notes will receive notice thereof at least 30 and not more than 60 days prior to the date fixed for redemption. Unless the Issuer
defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed will be
selected by the Trustee by a method the Trustee deems to be fair and appropriate. 
 “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 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, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the
Reference Treasury Dealer appointed by the Issuer. 

 “Reference Treasury Dealer” means (i) Banc of America Securities LLC and J.P. Morgan
Securities, Inc. (and their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a
“Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer 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 on
such redemption date. 
 If a Change of Control Triggering Event occurs, unless the Issuer has exercised its right to redeem the Notes as
described above, holders of the Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their Notes pursuant to the offer described below (the “Change of
Control Offer”). In the Change of Control Offer, the Issuer will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes
repurchased, to, but not including, the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the Notes describing
the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such
notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control
provisions herein by virtue of such conflicts. 
 Notwithstanding the foregoing, the Issuer will not be required to make a Change of Control
Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for a Change of Control Offer made by the Issuer and the third party
repurchases all Notes properly tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an event of default under the Indenture,
other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 
 On the Change of Control
Payment Date, the Issuer will be required, to the extent lawful, to (i) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent an amount equal to the
Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating the aggregate
principal amount of Notes or portions of Notes being purchased. 

 “Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade
Rating by each of the Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the
Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies). 
 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the Issuer
or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person becomes the beneficial owner, directly or indirectly, of more than 50% of
the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction
will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and (ii) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Continuing
Directors” means, as of any date of determination, any member of the Board of Directors of the Issuer who (1) was a member of such Board of Directors on the date of original issue of this Security; or (2) was nominated for election or
elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Issuer’s
proxy statement in which such member was named as a nominee for election as a director, without objection to such nomination). 
 “Fitch” means Fitch Ratings. 
 “Investment Grade Rating” means a rating equal to or higher than BBB- (or the
equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 
 “Moody’s” means
Moody’s Investors Service, Inc. 
 “Person” has the meaning set forth in the Indenture and includes a “person” as
used in Section 13(d)(3) of the Exchange Act. 
 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and
(2) if any of Fitch, Moody’s or S&P ceases to rate the notes or fails to make a rating of the notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Issuer (as certified by a Board Resolution) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be.

 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
 If an Event of Default with respect to the Notes shall occur and be continuing, the principal of all the Notes may be declared due and payable in the
manner and with the effect provided in the Indenture. 

 The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the holders
of not less than a majority in aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting as one class), to add any
provisions to, or change in any manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the holders of the Securities of each series or Coupons so affected; provided that the Issuer and
the Trustee may not, without the consent of the holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount thereof or premium thereon, if any, or reduce
the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be provided with respect to such series), premium, if
any, or interest thereon is payable or reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of Subordinated Securities of any series, modify any of the
subordination provisions or the definition of “Senior Indebtedness” relating to such series in a manner adverse to the holders of such Subordinated Securities, or alter certain provisions of the Indenture relating to Securities not
denominated in Dollars or the Judgment Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or, if the Securities provide therefor, any right of
repayment at the option of the Securityholder or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the holders of which is required for any such modification. It is
also provided in the Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any series, the holders of a majority in aggregate principal amount Outstanding of the Securities of each such series, each such
series voting as a separate class (or, of all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with respect to all the Securities, as the case may be)
and rescind and annul a declaration of default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right consequent thereto. The preceding sentence shall not,
however, apply to a default in the payment of the principal of or interest on any of the Securities. 
 No reference herein to the Indenture
and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency,
herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be
registered on the registry books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in the Borough of Manhattan, The City of New York, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the holder hereof or by its attorney duly authorized in writing, and thereupon one or more new Notes of authorized
denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. 
 No service charge
shall be made for any such registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer 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 Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 
 GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 
 Schedule A 
 Changes to Principal Amount of Registered Global Securities 
  

							
	 Date
	  	Principal Amount of Notes
by which this Registered
Global
Security is to be
Reduced or Increased,
and Reason for
Reduction or Increase	  	Remaining Principal
Amount of this
Registered
Global Security	  	Notation Made By
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 ANNEX B 
 Pursuant to Section 2.3 of the Indenture, dated as of March 5, 2007 (the “Indenture”), between McKesson Corporation (the “Issuer”) and The Bank of New York Mellon Trust Company, N.A.
(formerly known as The Bank of New York Trust Company, N.A.), a national banking association, as trustee (the “Trustee”), the terms of a series of securities to be issued pursuant to the Indenture are as follows: 
  

	 	1.	Designation. The designation of the securities is “7.50% Notes due February 15, 2019” (the “2019 Notes”). 

  

	 	2.	Initial Aggregate Principal Amount. The 2019 Notes shall be limited in initial aggregate principal amount to $350,000,000 (except for 2019 Notes authenticated and delivered
upon registration of transfer of, or in exchange for, or in lieu of, other 2019 Notes pursuant to Section 2.8, 2.9, 2.11, 8.5 or 12.3 of the Indenture). 

  

	 	3.	Currency Denomination. The 2019 Notes shall be denominated in Dollars. 

  

	 	4.	Maturity. The date on which the principal of the 2019 Notes is payable is February 15, 2019. 

  

	 	5.	Rate of Interest; Interest Payment Date; Regular Record Dates. Each 2019 Note shall bear interest from February 12, 2009 at 7.50% per annum until the principal
thereof is paid. Such interest shall be payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2009, to the persons in whose names the 2019 Notes are registered at the close of business on
the immediately preceding February 1 and August 1, respectively. Interest on the 2019 Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from February 12, 2009. Interest on
the 2019 Notes shall be computed on the basis of a 360-day year comprised of twelve 30-day months. In the event that any date on which principal, premium, if any, or interest is payable on the 2019 Notes is not a Business Day, then payment of the
principal, premium, if any, or 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). 

  

	 	6.	Place of Payment. Principal of, premium, if any, and interest on the 2019 Notes shall be payable, and the transfer of the 2019 Notes shall be registrable, at the office or
agency of the Issuer to be maintained for such purpose in the Borough of Manhattan, The City of New York, except that, at the option of the Issuer, interest may be paid by mailing a check to the address of the person entitled thereto as it appears
on the 2019 Notes register; provided, however, that while any 2019 Notes are represented by a Registered Global Security, payment of principal of, premium, if any, or interest on the 2019 Notes may be made by wire transfer to the account of
the Depositary or its nominee. 

  

 B-1 

	 	7.	Optional Redemption. The 2019 Notes may be redeemed, in whole, at any time, or in part, from time to time, at the option of the Issuer, for cash, at a redemption price equal
to the greater of (i) 100% of their principal amount and (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any
portion of such payments of interest accrued to 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 50 basis points, plus, in
each case, accrued interest thereon to the date of redemption. Notwithstanding the foregoing, installments of interest on 2019 Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the
interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the 2019 Notes to be redeemed will receive notice thereof at least 30 and not more than 60 days prior to the date fixed for
redemption. Unless the Issuer defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the 2019 Notes or portions thereof called for redemption. If less than all of the 2019 Notes are to be
redeemed, the 2019 Notes to be redeemed will be selected by the Trustee by a method the Trustee deems to be fair and appropriate. 

 “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 2019 Notes 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 2019 Notes. 
 “Comparable Treasury Price” means, with respect to any redemption date, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of
such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the Reference Treasury Dealer appointed by the Issuer. 
 “Reference Treasury Dealer” means (i) Banc of America Securities LLC and J.P. Morgan Securities Inc. (and their respective affiliates that
are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Issuer
shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
  

 B-2 

 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference
Treasury Dealer 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 on such redemption date. 
  

	 	8.	Change of Control. If a Change of Control Triggering Event occurs, unless the Issuer has exercised its right to redeem the 2019 Notes as described above, holders of the 2019
Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their 2019 Notes pursuant to the offer described below (the “Change of Control Offer”). In the
Change of Control Offer, the Issuer will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of 2019 Notes repurchased plus accrued and unpaid interest, if any, on the 2019 Notes repurchased, to, but
not including, the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the 2019 Notes describing the transaction or
transactions that constitute the Change of Control Triggering Event and offering to repurchase the 2019 Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is
mailed (the “Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the 2019 Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations
conflict with the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control provisions herein by
virtue of such conflicts. 

  

 B-3 

 Notwithstanding the foregoing, the Issuer will not be required to make a Change of Control Offer upon the
occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for a Change of Control Offer made by the Issuer and the third party repurchases
all 2019 Notes properly tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any 2019 Notes if there has occurred and is continuing on the Change of Control Payment Date an event of default under the Indenture,
other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 
 On the Change of Control
Payment Date, the Issuer will be required, to the extent lawful, to (i) accept for payment all 2019 Notes or portions thereof properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent an amount equal to
the Change of Control Payment in respect of all 2019 Notes or portions thereof properly tendered; and (iii) deliver or cause to be delivered to the Trustee the 2019 Notes properly accepted together with an Officer’s Certificate stating the
aggregate principal amount of 2019 Notes or portions of 2019 Notes being purchased. 
 “Below Investment Grade Rating Event” means
the 2019 Notes are rated below an Investment Grade Rating by each of the Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period
following public notice of the occurrence of the Change of Control (which 60-day period shall be extended so long as the rating of the 2019 Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies).

 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or
other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the
Issuer or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person becomes the beneficial owner, directly or indirectly, of more than
50% of the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a
transaction will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and (ii) the holders of the voting stock of such holding company immediately following that
transaction are substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
  

 B-4 

 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event. 
 “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Issuer who (1) was a member of such Board of Directors on the date of original issue of the 2019 Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Issuer’s proxy statement in which such member was named as a nominee for election as a
director, without objection to such nomination). 
 “Fitch” means Fitch Ratings. 
 “Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and
BBB- (or the equivalent) by S&P. 
 “Moody’s” means Moody’s Investors Service, Inc. 
 “Person” has the meaning set forth in the Indenture and includes a “person” as used in Section 13(d)(3) of the Exchange Act.

 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or S&P
ceases to rate the 2019 Notes or fails to make a rating of the 2019 Notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Issuer (as certified by a Board Resolution) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
  

	 	9.	Mandatory Redemption. The 2019 Notes are not mandatorily redeemable and are not entitled to the benefit of a sinking fund or any analogous provisions.

  

	 	10.	Denominations. The 2019 Notes shall be issued initially in minimum denominations of $1,000 and shall be issued in integral multiples of $1,000 in excess thereof.

  

 B-5 

	 	11.	Amount Payable Upon Acceleration. The principal of the 2019 Notes shall be payable upon declaration of acceleration pursuant to Section 5.1 of the Indenture.

  

	 	12.	Payment Currency. Principal and interest on the 2019 Notes shall be payable in Dollars. 

  

	 	13.	Payment Currency - Election. The principal of and interest on the 2019 Notes shall not be payable in a currency other than Dollars. 

  

	 	14.	Payment Currency - Index. The principal of and interest on the 2019 Notes shall not be determined with reference to an index based on a coin or currency.

  

	 	15.	Registered Securities. The 2019 Notes shall be issued only as Registered Securities. The 2019 Notes shall be issuable as Registered Global Securities.

  

	 	16.	Additional Amounts. The Issuer shall not pay additional amounts on the 2019 Notes held by a Person that is not a U.S. Person in respect of taxes or similar charges withheld
or deducted. 

  

	 	17.	Definitive Certificates. Section 2.8 of the Indenture will govern the transferability of the 2019 Notes in definitive form. 

  

	 	18.	Registrar; Paying Agent; Depositary. The Trustee shall initially serve as the registrar and the paying agent for the 2019 Notes. The Depository Trust Company shall initially
serve as the Depositary for the Registered Global Security representing the 2019 Notes. 

  

	 	19.	Events of Default; Covenants. There shall be no deletions from or modifications or additions to the Events of Default set forth in Section 5.1 of the Indenture with
respect to the 2019 Notes. There shall be the following additions to the covenants of the Issuer set forth in Article III of the Indenture with respect to the 2019 Notes: 

 Limitation on Liens. The Issuer covenants that, so long as any of the 2019 Notes remain outstanding, it shall not, nor shall it permit any
Consolidated Subsidiary to, create or assume any Indebtedness for money borrowed which is secured by a mortgage, pledge, security interest or lien (“liens”) of or upon any assets, whether now owned or hereafter acquired, of the Issuer or
any such Consolidated Subsidiary without equally and ratably securing the 2019 Notes by a lien ranking equally to and ratably with (or at the option of the Issuer, senior to) such secured Indebtedness, except that the foregoing restriction shall not
apply to (a) liens on any assets of 

  

 B-6 

 
any corporation existing at the time such corporation becomes a Consolidated Subsidiary; (b) liens on any assets existing at the time of acquisition of
such assets by the Issuer or a Consolidated Subsidiary, or liens to secure the payment of all or any part of the purchase price of such assets upon the acquisition of such assets by the Issuer or a Consolidated Subsidiary or to secure any
indebtedness incurred or guaranteed by the Issuer or a Consolidated Subsidiary prior to, at the time of, or within 360 days after such acquisition (or in the case of real property, the completion of construction (including any improvements on an
existing asset) or commencement of full operation of such asset, whichever is later), which indebtedness is incurred or guaranteed for the purpose of financing all or any part of the purchase price thereof or, in the case of real property,
construction or improvements thereon; (c) liens on any assets securing indebtedness owed by any Consolidated Subsidiary to the Issuer or another wholly owned Subsidiary; (d) liens on any assets of a corporation existing at the time such
corporation is merged into or consolidated with the Issuer or a Subsidiary or at the time of a purchase, lease or other acquisition of the assets of a corporation or firm as an entirety or substantially as an entirety by the Issuer or a Subsidiary;
(e) liens on any assets of the Issuer or a Consolidated Subsidiary in favor of the United States of America or any state thereof, or any department, agency or instrumentality or political subdivision of the United States of America or any State
thereof, or in favor of any other country, or any political subdivision thereof, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred or guaranteed for the purpose of
financing all or any part of the purchase price (or, in the case of real property, the cost of construction) of the assets subject to such liens (including, but not limited to, liens incurred in connection with pollution control, industrial revenue
or similar financing); (f) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any lien referred to in the foregoing clauses (a) to (e), inclusive; (g) liens imposed by
law, such as mechanics’, workmen’s, repairmen’s, materialmen’s, carriers’, warehousemen’s, vendors’ or other similar liens arising in the ordinary course of business, or governmental (federal, state or municipal)
liens arising out of contracts for the sale of products or services by the Issuer or any Consolidated Subsidiary, or deposits or pledges to obtain the release of any of the foregoing liens; (h) pledges, liens or deposits under worker’s
compensation laws or similar legislation and liens or judgments thereunder which are not currently dischargeable, or in connection with bids, tenders, contracts (other than for the payment of money) or leases to which the Issuer or any Consolidated
Subsidiary is a party, or to secure public or statutory obligations of the Issuer or any Consolidated Subsidiary, or in connection with obtaining or maintaining self-insurance or to obtain the benefits of any law, regulation or arrangement
pertaining to unemployment insurance, old age pensions, social security or similar 

  

 B-7 

 
matters, or to secure surety, appeal or customs bonds to which the Issuer or any Consolidated Subsidiary is a party, or in litigation or other proceedings
such as, but not limited to, interpleader proceedings, and other similar pledges, liens or deposits made or incurred in the ordinary course of business; (i) liens created by or resulting from any litigation or other proceeding which is being
contested in good faith by appropriate proceedings, including liens arising out of judgments or awards against the Issuer or any Consolidated Subsidiary with respect to which the Issuer or such Consolidated Subsidiary is in good faith prosecuting an
appeal or proceedings for review or for which the time to make an appeal has not yet expired; or final unappealable judgment liens which are satisfied within 15 days of the date of judgment; or liens incurred by the Issuer or any Consolidated
Subsidiary for the purpose of obtaining a stay or discharge in the course of any litigation or other proceeding to which the Issuer or such Consolidated Subsidiary is a party; (j) liens for taxes or assessments or governmental charges or levies
not yet due or delinquent, or which can thereafter be paid without penalty, or which are being contested in good faith by appropriate proceedings; landlord’s liens on property held under lease; and any other liens or charges incidental to the
conduct of the business of the Issuer or any Consolidated Subsidiary or the ownership of the assets of any of them which were not incurred in connection with the borrowing of money or the obtaining of advances or credit and which do not, in the
opinion of the Issuer, materially impair the use of such assets in the operation of the business of the Issuer or such Consolidated Subsidiary or the value of such assets for the purposes thereof; or (k) liens relating to accounts receivable of
the Issuer or any of its Subsidiaries which have been sold, assigned or otherwise transferred to another Person in a transaction classified as a sale of accounts receivable in accordance with accounting principles generally accepted in the United
States of America (to the extent the sale by the Issuer or the applicable Subsidiary is deemed to give rise to a lien in favor of the purchaser thereof in such accounts receivable or the proceeds thereof). Notwithstanding the above, the Issuer or
any Consolidated Subsidiary may, without securing the 2019 Notes, create or assume any Indebtedness which is secured by a lien which would otherwise be subject to the foregoing restrictions, provided that at the time of such creation or assumption,
after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally accepted in the United States of America.

 Limitation on Sale and Lease-Back Transactions. The Issuer covenants that, so long as any of the 2019 Notes remain outstanding, the
Issuer will not, nor shall the Issuer permit any Consolidated Subsidiary to, enter into any sale and lease-back transaction with respect to any assets, other than any sale and lease-back transaction involving a lease for a term of not more than
three years, unless either (a) the Issuer or such Consolidated 

  

 B-8 

 
Subsidiary would be entitled to incur Indebtedness secured by a lien on the assets to be leased in an amount at least equal to the Attributable Debt in
respect of such transaction without equally and ratably securing the 2019 Notes pursuant to clauses (a) through (k) inclusive of the covenant with respect to “Limitation on Liens” above, or (b) the proceeds of the sale of
the assets to be leased are at least equal to their fair market value (as determined by the Board of Directors of the Issuer) and the proceeds are applied to the purchase or acquisition (or, in the case of real property, the construction) of assets
or to the retirement (other than at maturity or pursuant to a mandatory sinking fund or mandatory redemption provision) of indebtedness. The foregoing limitation shall not apply, if at the time the Issuer or any Consolidated Subsidiary enters into
such sale and lease-back transaction, and after giving effect thereto, Exempted Debt does not exceed 10% of the total assets of the Issuer and its Subsidiaries on a consolidated basis, determined in accordance with accounting principles generally
accepted in the United States of America. 
 The term “Attributable Debt” in connection with a sale and lease-back transaction shall
mean, as of the date of determination, the lesser of (a) the fair value of the assets subject to such transaction, as determined by the Board of Directors of the Issuer, or (b) the present value (discounted at the rate of interest set
forth in or implicit in the terms of such lease or, if it is not practicable to determine such rate, the weighted average interest rate per annum borne by all series of Securities then Outstanding and subject to the “Limitation on Sale and
Lease-Back Transactions” covenant above compounded semi-annually, in either case as determined by the principal accounting or financial officer of the Issuer) of the obligations of the Issuer or any Consolidated Subsidiary for net rental
payments during the remaining term of all leases (including any period for which such lease has been extended or may, at the option of the lessor, be extended). 
 The term “Consolidated Subsidiary” shall mean any Subsidiary substantially all the property of which is located, and substantially all the operations of which are conducted, in the United States of America
whose financial statements are consolidated with those of the Issuer in accordance with accounting principles generally accepted in the United States of America. 
 The term “Exempted Debt” shall mean the sum of the following as of the date of determination: (i) Indebtedness of the Issuer and its Consolidated Subsidiaries incurred after the date of issuance of the
Notes and secured by liens not permitted to be created or assumed pursuant to the covenant with respect to “Limitation on Liens” above, and (ii) Attributable Debt of the Issuer and its Consolidated Subsidiaries in respect of every
sale and lease-back transaction entered into after the date of issuance of the Notes, other than leases expressly permitted by the covenant with respect to “Limitation on Sale and Lease-Back Transactions” above. 
  

 B-9 

 The term “Indebtedness” shall mean all items classified as indebtedness on the most recently
available consolidated balance sheet of the Issuer and its Consolidated Subsidiaries, in accordance with accounting principles generally accepted in the United States of America. 
 The term “net rental payments” under any lease of any period shall mean the sum of the rental and other payments required to be paid in such
period by the lessee thereunder, not including, however, any amounts required to be paid by such lessee (whether or not designated as rental or additional rental) on account of maintenance and repairs, reconstruction, insurance, taxes, assessments,
water rates or similar charges required to be paid by such lessee thereunder or any amounts required to be paid by such lessee thereunder contingent upon the amount of sales, maintenance and repairs, reconstruction, insurance, taxes, assessments,
water rates or similar charges. 
  

	 	20.	Conversion and Exchange. The 2019 Notes shall not be convertible into or exchangeable for any other security. 

  

	 	21.	Additional Issues. The Issuer may, without notice to or the consent of the holders of the 2019 Notes, create and issue additional notes ranking equally and ratably with the
2019 Notes in all respects, or in all respects except for the payment of interest accruing prior to the issue date of such additional notes. Such additional notes shall be consolidated and form a single series with the 2019 Notes and shall have the
same terms as to status, redemption or otherwise as the 2019 Notes. 

  

	 	22.	Other Terms. The 2019 Notes shall have the other terms and shall be substantially in the form set forth in the form of the 2019 Notes attached hereto as Annex B-1. In case of
any conflict between this Annex B and the 2019 Notes, the form of the 2019 Notes shall control. 

 Capitalized terms used but
not otherwise defined in this Annex B shall have the respective meanings ascribed to such terms in the Indenture. 
  

 B-10 

 ANNEX B-1 
 [FORM OF 2019 NOTE] 

			
	REGISTERED	  	REGISTERED

 THIS NOTE IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) 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 THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE &
CO., 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. TRANSFERS OF THIS REGISTERED GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
IN WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 
  

			
	No. 1	  	CUSIP NO. 581557 AX3

 McKESSON CORPORATION 
 7.50% NOTES DUE FEBRUARY 15, 2019 
 McKesson Corporation, a Delaware corporation (the
“Issuer,” 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 Fifty
Million Dollars ($350,000,000) on February 15, 2019 and to pay interest on said principal sum from February 12, 2009, or from the most recent interest payment date to which interest has been paid or duly provided for, semi-annually in
arrears on February 15 and August 15 (each such date, an “Interest Payment Date”) of each year commencing on August 15, 2009, at the rate of 7.50% per annum until the principal hereof shall have become due and payable.

 The amount of interest payable on any Interest Payment Date shall be computed on the basis of a 360-day year comprised of twelve 30-day
months. In the event that any date on which the principal or interest payable on this Note is not a Business Day, then payment of principal or 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 such delay). The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (referred to on the reverse hereof) be paid to
the person in whose name this Note is registered at the close of business on the record date for such interest installment, which shall be the close of business on the immediately preceding February 1 and August 1 prior to such Interest
Payment Date, as applicable. Any such interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered holders on such record date and may be paid to the person in whose name this Note is registered
at the close of business on a subsequent record date (which shall be not less than five Business Days prior to the date of payment of such defaulted interest), notice whereof shall be given by mail by or on behalf of the Issuer to the registered
holders of Notes not less than 15 days preceding such subsequent record date, all as more fully provided in the 

 
Indenture. The principal of and the interest on this Note shall be payable at the office or agency of the Issuer 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 Issuer by check mailed to the person
entitled thereto at such address as shall appear in the registry books of the Issuer; provided, further, that for so long as this Note is represented by a Registered Global Security, payment of principal, premium, if any, or interest on this
Note may be made by wire transfer to the account of the Depositary or its nominee. 
 Unless the certificate of authentication hereon has
been executed by or on behalf of the Trustee (as defined below) under the Indenture (as defined below), by the manual signature of one of its authorized officers, this Note shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose. 
 Capitalized terms used in this Note which are defined in the Indenture shall have the respective meanings
assigned to them in the Indenture. 
 The provisions of this Note are continued on the reverse side hereof and such continued provisions
shall for all purposes have the same effect as though fully set forth at this place. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly executed, manually or in facsimile,
and an imprint or facsimile of its corporate seal to be imprinted hereon. 
  

			
	McKESSON CORPORATION
		
	By:	 	 
	Name:	 	Nicholas A. Loiacono
	Title:	 	Vice President and Treasurer

 Attest: 
  

					
	By: 	 	 
		 	Name:	 	
		 	Title:	 	
	
	 CERTIFICATE OF AUTHENTICATION
 This is one of
the Securities referred to in the within-mentioned Indenture.

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

					
		
	Dated: 	 	 

 [REVERSE SIDE OF NOTE] 
 This Note is one of a duly authorized series of securities (the “Securities”) of the Issuer designated as its 7.50% Notes due February 15,
2019 (the “Notes”). The Securities are all issued or to be issued under and pursuant to an Indenture, dated as of March 5, 2007 (the “Indenture”), duly executed and delivered between the Issuer and The Bank of New York
Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), a national banking association (the “Trustee,” which term includes any successor Trustee with respect to the Securities under the Indenture), to which
the Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Issuer, the Trustee and the holders of the Securities and the terms upon which the Notes are to be
authenticated and delivered. The terms of individual series of Securities may vary with respect to interest rate or interest rate formulas, issue dates, maturity, redemption, repayment, currency of payment and otherwise. 
 The Notes are issuable only as Registered Securities in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. As provided
in the Indenture and subject to certain limitations therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes as requested by the holder surrendering the same. 
 Except as set forth below, this Note is not redeemable and is not entitled to the benefit of a sinking fund or any analogous provision. 
 The Notes may be redeemed, in whole, at any time, or in part, from time to time, at the option of the Issuer, for cash, at a redemption price equal to
the greater of (i) 100% of their principal amount and (ii) an amount, as determined by the Quotation Agent, equal to the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any
portion of such payments of interest accrued to 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 50 basis points, plus, in
each case, accrued interest thereon to the date of redemption. Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates falling on or prior to a redemption date will be payable on the
interest payment date to the registered holders as of the close of business on the relevant record date. Holders of the Notes will receive notice thereof at least 30 and not more than 60 days prior to the date fixed for redemption. Unless the Issuer
defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed will be
selected by the Trustee by a method the Trustee deems to be fair and appropriate. 
 “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 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, (i) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains
fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Quotation Agent” means the
Reference Treasury Dealer appointed by the Issuer. 

 “Reference Treasury Dealer” means (i) Banc of America Securities LLC and J.P. Morgan
Securities, Inc. (and their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a
“Primary Treasury Dealer”), the Issuer shall substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Issuer. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such Reference Treasury Dealer 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 on
such redemption date. 
 If a Change of Control Triggering Event occurs, unless the Issuer has exercised its right to redeem the Notes as
described above, holders of the Notes will have the right to require the Issuer to repurchase all or any part (in integral multiples of $1,000 original principal amount) of their Notes pursuant to the offer described below (the “Change of
Control Offer”). In the Change of Control Offer, the Issuer will be required to offer payment in cash equal to 101% of the then outstanding aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes
repurchased, to, but not including, the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Issuer will be required to mail a notice to holders of the Notes describing
the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase the Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such
notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures described herein and in such notice. The Issuer must comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control provisions herein, the Issuer will be required to comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control
provisions herein by virtue of such conflicts. 
 Notwithstanding the foregoing, the Issuer will not be required to make a Change of Control
Offer upon the occurrence of a Change of Control Triggering Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for a Change of Control Offer made by the Issuer and the third party
repurchases all Notes properly tendered and not withdrawn under its offer. In addition, the Issuer will not repurchase any Notes if there has occurred and is continuing on the Change of Control Payment Date an event of default under the Indenture,
other than a default in the payment of the Change of Control Payment upon a Change of Control Triggering Event. 
 On the Change of Control
Payment Date, the Issuer will be required, to the extent lawful, to (i) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent an amount equal to the
Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate stating the aggregate
principal amount of Notes or portions of Notes being purchased. 

 “Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade
Rating by each of the Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the
Change of Control (which 60-day period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies). 
 “Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other
disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Issuer and its Subsidiaries taken as a whole to any Person other than the Issuer
or one of its Subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person becomes the beneficial owner, directly or indirectly, of more than 50% of
the then outstanding number of shares of the Issuer’s voting stock; or (3) the first day on which a majority of the members of the Issuer’s Board of Directors are not Continuing Directors. Notwithstanding the foregoing, a transaction
will not be deemed to result in a Change of Control if (i) the Issuer becomes a wholly owned subsidiary of a holding company and (ii) the holders of the voting stock of such holding company immediately following that transaction are
substantially the same as the holders of the Issuer’s voting stock immediately prior to that transaction. 
 “Change of Control
Triggering Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event. 
 “Continuing
Directors” means, as of any date of determination, any member of the Board of Directors of the Issuer who (1) was a member of such Board of Directors on the date of original issue of this Security; or (2) was nominated for election or
elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Issuer’s
proxy statement in which such member was named as a nominee for election as a director, without objection to such nomination). 
 “Fitch” means Fitch Ratings. 
 “Investment Grade Rating” means a rating equal to or higher than BBB- (or the
equivalent) by Fitch, Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 
 “Moody’s” means
Moody’s Investors Service, Inc. 
 “Person” has the meaning set forth in the Indenture and includes a “person” as
used in Section 13(d)(3) of the Exchange Act. 
 “Rating Agencies” means (1) each of Fitch, Moody’s and S&P; and
(2) if any of Fitch, Moody’s or S&P ceases to rate the notes or fails to make a rating of the notes publicly available for reasons outside of the Issuer’s control, a “nationally recognized statistical rating
organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Issuer (as certified by a Board Resolution) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be.

 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
 If an Event of Default with respect to the Notes shall occur and be continuing, the principal of all the Notes may be declared due and payable in the
manner and with the effect provided in the Indenture. 

 The Indenture contains provisions permitting the Issuer and the Trustee, with the consent of the holders
of not less than a majority in aggregate principal amount of the Senior Securities or Subordinated Securities, as the case may be, of all series issued under such Indenture then outstanding and affected (each voting as one class), to add any
provisions to, or change in any manner, eliminate or waive any of the provisions of, such Indenture or modify in any manner the rights of the holders of the Securities of each series or Coupons so affected; provided that the Issuer and
the Trustee may not, without the consent of the holder of each Outstanding Security affected thereby, (i) extend the final maturity of the principal of any Security or reduce the principal amount thereof or premium thereon, if any, or reduce
the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof or change the currency in which the principal thereof (other than as otherwise may be provided with respect to such series), premium, if
any, or interest thereon is payable or reduce the amount of the principal of any Original Issue Discount Security that is payable upon acceleration or provable in bankruptcy, or in the case of Subordinated Securities of any series, modify any of the
subordination provisions or the definition of “Senior Indebtedness” relating to such series in a manner adverse to the holders of such Subordinated Securities, or alter certain provisions of the Indenture relating to Securities not
denominated in Dollars or the Judgment Currency of such Securities or impair or affect the right of any Securityholder to institute suit for the enforcement of any payment thereof when due or, if the Securities provide therefor, any right of
repayment at the option of the Securityholder or (ii) reduce the aforesaid percentage in principal amount of Securities of any series issued under the Indenture, the consent of the holders of which is required for any such modification. It is
also provided in the Indenture that, with respect to certain defaults or Events of Default regarding the Securities of any series, the holders of a majority in aggregate principal amount Outstanding of the Securities of each such series, each such
series voting as a separate class (or, of all Securities, as the case may be voting as a single class) may under certain circumstances waive all defaults with respect to each such series (or with respect to all the Securities, as the case may be)
and rescind and annul a declaration of default and its consequences, but no such waiver or rescission and annulment shall extend to or affect any subsequent default or shall impair any right consequent thereto. The preceding sentence shall not,
however, apply to a default in the payment of the principal of or interest on any of the Securities. 
 No reference herein to the Indenture
and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the time, place and rate, and in the coin or currency,
herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note may be
registered on the registry books of the Issuer, upon surrender of this Note for registration of transfer at the office or agency of the Issuer maintained by the Issuer for such purpose in the Borough of Manhattan, The City of New York, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the holder hereof or by its attorney duly authorized in writing, and thereupon one or more new Notes of authorized
denominations and for the same aggregate principal amount will be issued to the designated transferee or transferees. 
 No service charge
shall be made for any such registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. 
 Prior to due presentment of this Note for registration of transfer, the Issuer, the Trustee and any agent of the Issuer 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 Issuer, the Trustee nor any such agent shall be affected by notice to the contrary. 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

 [FORM OF SCHEDULE FOR ENDORSEMENTS ON REGISTERED 
 GLOBAL SECURITIES TO REFLECT CHANGES IN PRINCIPAL AMOUNT] 
 Schedule A 
 Changes to Principal Amount of Registered Global Securities 
  

							
	 Date
	  	Principal Amount of Notes
by which this Registered
Global
Security is to be
Reduced or Increased,
and Reason for
Reduction or Increase	  	Remaining Principal
Amount of this
Registered
Global Security	  	Notation Made By

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