Document:

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                                                                    Exhibit 4(c)

            -------------------------------------------------------

                          SUPPLEMENTAL INDENTURE NO. 6

                                    BETWEEN

                             McDONALD'S CORPORATION

                                      AND

                           FIRST UNION NATIONAL BANK
                                    Trustee

                      ------------------------------------

                           Dated as of ________, 2001

                      ------------------------------------

                SUPPLEMENTAL TO SENIOR DEBT SECURITIES INDENTURE
                          DATED AS OF OCTOBER 19, 1996

            -------------------------------------------------------
<PAGE>

                             McDONALD'S CORPORATION
                          SUPPLEMENTAL INDENTURE NO. 6
                         Dated as of ___________, 2001
                                   Series of
                          Medium-Term Notes, Series G
                                 $1,500,000,000

     Supplemental Indenture No. 6, dated as of __________, 2001, between
McDONALD'S CORPORATION, a corporation organized and existing under the laws of
the State of Delaware (hereinafter sometimes referred to as the "Company"), and
FIRST UNION NATIONAL BANK, a national banking association, authorized to accept
and execute trusts (hereinafter sometimes referred to as the "Trustee"),

                                  WITNESSETH:

     WHEREAS, The Company and the Trustee have executed and delivered a Senior
Debt Securities Indenture dated as of October 19, 1996 (as amended or
supplemented from time to time, the "Indenture");

     WHEREAS, Section 10.01 of the Indenture provides for the Company, when
authorized by its Board of Directors, and the Trustee to enter into an indenture
supplemental to the Indenture to establish the form or terms of Debt Securities
as permitted by Sections 2.01 and 2.02 of the Indenture; and

     WHEREAS, Sections 2.01 and 2.02 of the Indenture provide for Debt
Securities of any series to be established pursuant to an indenture supplemental
to the Indenture;

            NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the series of
Debt Securities provided for herein, it is mutually covenanted and agreed, for
the equal and proportionate benefit of all Holders of such series of Debt
Securities, as follows:

                                  ARTICLE ONE
                      RELATION TO INDENTURE; DEFINITIONS.

     SECTION 1.01.  This Supplemental Indenture No. 6 constitutes an integral
part of the Indenture.

     SECTION 1.02.  (a)  For all purposes of this Supplemental Indenture No. 6,
except as otherwise expressly provided or unless the context otherwise requires,
all capitalized terms used and not defined herein shall have the meanings
assigned to them in the Indenture or in Exhibits A and B hereto.
<PAGE>

     (b)  All references herein to Articles and Sections, unless otherwise
specified, refer to the corresponding Articles and Sections of this Supplemental
Indenture No. 6; and

     (c)  The terms "hereof," "herein," "hereto," "hereunder" and "herewith"
refer to this Supplemental Indenture No. 6.

                                  ARTICLE TWO
                         THE SERIES OF DEBT SECURITIES

     SECTION 2.01.  (a) There shall be a series of Debt Securities issuable in
registered form (the "Notes") limited to an aggregate initial public offering
price or purchase price of $1,500,000,000, or the equivalent thereof in one or
more foreign currencies, including the Euro, as designated by the Company (the
"Specified Currency").  The Notes shall be designated the "Medium-Term Notes,
Series G, Due from 1 Year to 60 Years from Date of Issue".

     (b)  Each Note shall bear interest either at a fixed rate (a "Fixed Rate
Note"), which may be zero in the case of Original Issue Discount Notes (as
defined below), or at a floating rate (a "Floating Rate Note") or at a rate
determined by reference to an Index (as defined below) in the case of certain
Indexed Notes (as defined below).

     SECTION 2.02.  Fixed Rate Notes and Floating Rate Notes shall contain
substantially the terms and provisions set forth in either the form of Series G
Fixed Rate Note or the form of Series G Floating Rate Note attached hereto as
Exhibits A and B, respectively, or such other forms of Notes specified in an
Officers' Certificate pursuant to duly adopted resolutions of the Board of
Directors of the Company.  All of the terms and provisions of such Notes are
hereby incorporated by reference herein.

     SECTION 2.03.  In addition to the terms described in Section 2.02, a Note
shall contain the following terms to be specified in a Pricing Supplement:

          (a)  the principal amount and Specified Currency for such Note (and,
     if the Specified Currency is other than U.S. dollars, certain other terms
     relating to such Note and such Specified Currency, including the authorized
     denominations of such Note); (b) whether such Note is a Fixed Rate Note,
     Floating Rate Note or an Indexed Note (as defined below) as to which
     interest is determined by reference to an Index; (c) the price (expressed
     as a percentage of the aggregate principal amount thereof) at which such
     Note will be issued (the "Issue Price"); (d) the date on which such Note
     will be issued (the "Original Issue Date"); (e) the date on which such Note
     will mature (the "Stated Maturity"); (f) if such Note is a Fixed Rate Note,
     the rate per annum at which such Note will bear interest, if any, and the
     dates on which interest will be payable if other than February 15 and
     August 15 (each an "Interest Payment Date"); (g) if such Note is a Floating
     Rate Note, the Base Rate, the Initial Interest Rate, the Interest Reset
     Period, the Interest Payment Dates, the Maximum Interest Rate, if any, the
     Minimum Interest Rate, if any, the Spread or Spread Multiplier, if

                                       3
<PAGE>

     any (all as defined in Sections 2.02 and 2.06 herein), and any other terms
     relating to the particular method of calculating the interest rate for such
     Note; (h) whether such Note is an Original Issue Discount Note; (i) if such
     Note is an Indexed Note, the manner in which the principal amount of the
     Note payable at Stated Maturity and/or the interest amount payable will be
     determined (other than as described in Section 2.07 hereof); (j) whether
     such Note may be redeemed at the option of the Company, or repaid at the
     option of the Holder, prior to Stated Maturity and, if so, the provisions
     (other than the redemption and prepayment provisions specified in Sections
     2.02 hereof) relating to such redemption or repayment, including, in the
     case of an Original Issue Discount Note, Indexed Note or Amortizing Note
     (as defined below), the information necessary to determine the amount due
     upon redemption or repayment; (k) if such Note is an Amortizing Note,
     information necessary to determine the repayment schedule, including the
     manner in which payments thereon will be applied to interest and the
     reduction of unpaid principal; and (l) any other terms of such Note not
     inconsistent with the provisions of the Indenture.

     SECTION 2.04. Bank One Trust Company, N.A., One Bank One Plaza, Chicago,
Illinois, is hereby initially appointed as Authenticating Agent, Registrar,
Paying Agent and Calculation Agent with respect to the Notes.

     SECTION 2.05.  With respect to any Notes issued hereunder, (a) the term
"Original Issue Discount Note" shall mean (i) a Note, including any such Note
whose interest rate is zero, that has a stated redemption price at maturity that
exceeds its Issue Price by at least 0.25% of its aggregate principal amount,
multiplied by the number of full years from the Original Issue Date to the
Stated Maturity of such Note; and (ii) any other Note designated by the Company
as issued with original issue discount for U.S. federal income tax purposes; and
(b) the term "Yield to Stated Maturity" shall mean the yield to Stated Maturity,
calculated at the time of issuance of the Notes or, if applicable, at the most
recent redetermination of interest on such Notes and calculated in accordance
with accepted financial practice.

     SECTION 2.06.  (a) With respect to any Notes hereunder, the term "Indexed
Note" shall mean a Note, the principal amount payable at Stated Maturity of
which (the "Indexed Principal Amount") and/or the interest amount payable on
which is determined by reference to a measure (the "Index") which will be
related to (i) the rate of exchange between the Specified Currency for such Note
and the other currency or composite currency (the "Index Currency") specified in
such Indexed Note (such Indexed Note, "Currency Indexed Note"); (ii) the
difference in the price of a specified commodity (the "Indexed Commodity") on
specified dates (such Indexed Note, "Commodity Indexed Note"); (iii) the
difference in the level of a specified stock index (the "Stock Index"), which
may be based on U.S. or foreign stocks, on specified dates (such Indexed Note,
"Stock Indexed Note"); or (iv) such other objective price or economic measures
as are described in such Indexed Note.

     (b)  Unless otherwise specified in an Indexed Note, interest on such
Indexed Note will be payable by the Company based on the amount designated
therein as the "Face

                                       4
<PAGE>

Amount" of such Indexed Note. Such Indexed Note will describe whether the
principal amount of such Indexed Note that would be payable upon redemption or
repayment prior to Stated Maturity will be the Face Amount of such Indexed Note,
the Indexed Principal Amount of such Indexed Note at the time of redemption or
repayment, or another amount described in such Indexed Note.

     SECTION 2.07.  With respect to any Notes hereunder, the term "Amortizing
Notes" shall mean any Note, payments in respect of which represent interest due
and the reduction of unpaid principal as provided in such Amortizing Note.

     SECTION 2.08.  Any interest on any Note which is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date (herein
called "Defaulted Interest") shall forthwith cease to be payable to the Holder
on the relevant Regular Record Date by virtue of having been such Holder; and
such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (a) and clause (b) below:

          (a)  The Company may elect to make payment of any Defaulted Interest
     to the Persons in whose names the Notes are registered at the close of
     business on a special record date ("Special Record Date") for the payment
     of such Defaulted Interest, which shall be fixed in the following manner.
     The Company shall notify the Trustee in writing of the amount of Defaulted
     Interest proposed to be paid on each Note and the date of the proposed
     payment, and at the same time the Company shall deposit with the Trustee or
     any paying agent designated by the Company an amount of money equal to the
     aggregate amount proposed to be paid in respect of such Defaulted Interest
     or shall make arrangements satisfactory to the Trustee or with any paying
     agent designated by the Company for such deposit prior to the date of the
     proposed payment, such money when deposited to be held in trust for the
     benefit of the Persons entitled to such Defaulted Interest as in this
     Section provided. Thereupon the Trustee shall fix a Special Record Date for
     the payment of such Defaulted Interest which shall be not more than 15 nor
     less than 10 days prior to the date of the proposed payment and not less
     than 10 days after the receipt by the Trustee of the notice of the proposed
     payment. The Trustee shall promptly notify the Company of such Special
     Record Date and, in the name and at the expense of the Company, shall cause
     notice of the proposed payment of such Defaulted Interest and the Special
     Record Date therefor to be mailed, first class postage prepaid, to each
     Holder of Notes at his address as it appears in the Debt Security Register,
     not less than 10 days prior to such Special Record Date. Notice of the
     proposed payment of such Defaulted Interest and the Special Record Date
     therefor having been mailed as aforesaid, such Defaulted Interest shall be
     paid to the Persons in whose names the Notes are registered on such Special
     Record Date and shall no longer be payable pursuant to the following clause
     (b).

          (b)  The Company may make payment of any Defaulted Interest in any
     other lawful manner not inconsistent with the requirements of any
     securities exchange on which the Notes may be listed, and upon such notice
     as may be required by such

                                       5
<PAGE>

     exchange, if, after notice given by the Company to the Trustee of the
     proposed payment pursuant to this clause, such payment shall be deemed
     practicable by the Trustee.

          (c)  Subject to the foregoing provisions of this Section, each Note
     delivered under this Supplemental Indenture No. 6 upon transfer of or in
     exchange for or in lieu of any other Note shall carry the rights to
     interest accrued and unpaid, and to accrue, which were carried by such
     other Note.

    SECTION 2.09.  The Place of Payment for the Notes shall be both The City of
New York, New York, and the City of Philadelphia, Pennsylvania.

    SECTION 2.10.  The terms and provisions contained in the form of the Notes
attached as Exhibits A and B hereto shall constitute, and are hereby expressly
made, a part of the Indenture and, to the extent applicable, the Company and the
Trustee, by their execution and delivery hereof, expressly agree to such terms
and provisions and to be bound thereby.

                                 ARTICLE THREE
                                 MISCELLANEOUS.

     SECTION 3.01. The recitals of fact herein and in the Notes shall be taken
as statements of the Company and shall not be construed as made by the Trustee.

     SECTION 3.02. This Supplemental Indenture No. 6 shall be construed in
connection with and as a part of the Indenture.

     SECTION 3.03. (a) If any provision of this Supplemental Indenture No. 6
limits, qualifies or conflicts with another provision of the Indenture required
to be included in indentures qualified under the Trust Indenture Act of 1939 (as
in effect on the date of this Supplemental Indenture No. 6) by any of the
provisions of Sections 310 to 317, inclusive, of the Trust Indenture Act of
1939, such required provisions shall control.

     (b)  In case any one or more of the provisions contained in this
Supplemental Indenture No. 6 or in the Notes issued hereunder should be invalid,
illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein and therein shall
not in any way be affected, impaired, prejudiced or disturbed thereby.

     SECTION 3.04. Whenever in this Supplemental Indenture No. 6 either of the
parties hereto is named or referred to, this shall be deemed to include the
successors or assigns of such party, and all the covenants and agreements in
this Supplemental Indenture No. 6 contained by or on behalf of the Company or by
or on behalf of the Trustee shall bind and inure to the benefit of the
respective successors and assigns of such parties, whether so expressed or not.
Nothing in this Supplemental Indenture No. 6 or the Notes, expressed or implied,
shall give to any Person, other than the parties hereto, their successors
hereunder

                                       6
<PAGE>

and the Holders of the Notes, any benefit or any legal or equitable right,
remedy or claim under this Supplemental Indenture No. 6.

     SECTION 3.05.  (a) This Supplemental Indenture No. 6 may be executed in any
number of counterparts, each of which so executed shall be deemed an original,
but all such counterparts shall together constitute but one and the same
instrument.

     (b)  The descriptive headings of the several Articles of this Supplemental
Indenture No. 6 were formulated, used and inserted herein for convenience only
and shall not be deemed to affect the meaning or construction of any of the
provisions hereof.

                                       7
<PAGE>

     IN WITNESS WHEREOF, McDONALD'S CORPORATION has caused this Supplemental
Indenture No. 6 to be signed, acknowledged and delivered by its President,
Executive Vice President and Chief Financial Officer or Senior Vice President
and Treasurer and its corporate seal to be affixed hereunto and the same to be
attested by its Secretary or Assistant Secretary, and FIRST UNION NATIONAL BANK,
as Trustee, has caused this Supplemental Indenture No. 6 to be signed,
acknowledged and delivered by one of its Vice Presidents, and its seal to be
affixed hereunto and the same to be attested by one of its Authorized Officers,
all as of the day and year first written above.

                                        McDONALD'S CORPORATION

[CORPORATE SEAL]
                                        By: ___________________________________
                                            Michael D. Richard
                                            Senior Vice President and Treasurer

Attest:

_____________________________
Secretary

                                        FIRST UNION NATIONAL BANK,
                                        as Trustee

[CORPORATE SEAL]
                                        By: ____________________________________
                                            Vice President

Attest:

_____________________________
Authorized Officer

                                       8
<PAGE>

STATE OF ILLINOIS   )
                    ) SS:
COUNTY OF DuPAGE    )

     On the ______ day of ________________________, in the year two thousand
one, before me appeared Michael D. Richard to me personally known, who, being by
me duly sworn, did say that he resides in Chicago, Illinois, that he is a Senior
Vice President and Treasurer of McDONALD'S CORPORATION, one of the corporations
described in and which executed the above instrument; that he knows the seal of
said corporation, that the seal affixed to said instrument is such corporate
seal; that it was so affixed by authority of the Board of Directors of said
corporation; and that he signed his name thereto by like authority.

_____________________________
Notary Public

                                       9
<PAGE>

STATE OF PENNSYLVANIA    )
                         ) SS:
COUNTY OF                )

     On the ______ day of __________________________, in the year two thousand
one, before me appeared ____________________ to be personally known, who, being
by me duly sworn, did say that he resides at
___________________________________________, that he is a Vice President of
FIRST UNION NATIONAL BANK, one of the corporations described in and which
executed the above instrument; that he knows the seal of said corporation; that
the seal affixed to said instrument is such corporate seal; that it was so
affixed by authority of the Board of Directors of said corporation; and that he
signed his name thereto by like authority.

__________________________________
Notary Public

                                       10<PAGE>

SERIES G FIXED RATE NOTE                                            EXHIBIT 4(d)

REGISTERED                                                      PRINCIPAL AMOUNT

No.                         McDONALD'S CORPORATION
                          MEDIUM-TERM NOTE, SERIES G
                              (FIXED RATE)                      CUSIP

               Due From One Year To 60 Years From Date Of Issue

          IF THE REGISTERED OWNER OF THIS NOTE (AS INDICATED BELOW) IS THE
DEPOSITORY TRUST COMPANY  ("DTC") OR A NOMINEE OF DTC, THIS NOTE IS A GLOBAL
SECURITY AND THE FOLLOWING LEGEND IS APPLICABLE: UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, TO ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.  UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES
REPRESENTED HEREBY IN DEFINITIVE REGISTERED FORM, THIS REGISTERED GLOBAL
SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO A NOMINEE OF DTC, OR
BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC, OR BY DTC OR ANY SUCH
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

          IF APPLICABLE, THE "TOTAL AMOUNT OF OID," "YIELD TO STATED MATURITY"
AND "INITIAL ACCRUAL PERIOD OID" (COMPUTED UNDER THE APPROXIMATE METHOD) BELOW
WILL BE COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE FEDERAL INCOME TAX
ORIGINAL ISSUE DISCOUNT ("OID") RULES.

Issue Price:  %                                             Original Issue Date:

Interest Rate:  %                                           Stated Maturity:

Specified Currency:
          (Applicable only if other than U.S. dollars)

          Option to Receive Payments in Specified Currency:   [_] Yes    [_] No
               (Applicable only if Specified Currency is
               other than U.S. dollars)

          Authorized Denominations:
               (Applicable only if other than U.S.$1,000
               and increments of U.S.$1,000 or if Specified
               Currency is other than U.S. dollars)

Method of Payment of Principal:
               (Applicable only if other than immediately available funds)

Interest Payment Dates:
               (Applicable only if other than February 15 and August 15 of each
               year)

Regular Record Dates:
               (Applicable only if other than February 1 and August 1 of each
               year)

Optional Redemption:

          Optional Redemption Dates:
          Redemption Prices:

          [_]  The Redemption Price shall initially be   % of the principal
               amount of the Note to be redeemed and shall decline at each
               anniversary of the initial Optional Redemption Date by % of the
               principal amount to be redeemed until the Redemption Price is
               100% of such principal amount; provided, however, that if this
                                              --------  -------
               Note is an Original Issue Discount Note, the Redemption Price
               shall be the Amortized Face Amount of the principal amount to be
               redeemed.

          [_] Other:

Sinking Fund: Not Applicable

              Sinking Fund Dates:

              Sinking Fund Amounts:

Amortizing Note:  [_] Yes    [_] No

Amortizing Schedule:

Optional Repayment:

              Optional Repayment Dates:

              Optional Repayment Prices:

Original Issue Discount Note:

              Total Amount of OID:

              Yield to Stated Maturity:

              Initial Accrual Period OID:
<PAGE>

     McDONALD'S CORPORATION, a corporation duly organized and existing under the
laws of the State of Delaware (herein called the "Company", which term includes
any successor corporation under the Indenture hereinafter referred to), for
value received, hereby promises to pay to           or registered assigns, on
the Stated Maturity shown above, the principal sum specified above (or so much
thereof as shall then remain outstanding) in the currency specified above (the
"Specified Currency") and to pay interest on the principal sum outstanding from
time to time in the Specified Currency at the Interest Rate shown above from and
including the Original Issue Date shown above or from and including the most
recent date to which interest has been paid or duly provided for, semi-annually
in arrears, unless otherwise specified on the face hereof, on but excluding
February 15 and August 15 of each year and at but excluding Maturity (each such
day being an "Interest Payment Date"), until the principal hereof is paid or
duly provided for. Interest on this Note, if any, will be computed on the basis
of a 360-day year of twelve 30-day months. The interest so payable, and
punctually paid or duly provided for, on any Interest Payment Date as specified
on the face hereof shall, as provided in such Indenture, be paid to the person
in whose name this Note is registered at the close of business on the Regular
Record Date for such interest as which, unless otherwise specified on the face
hereof, shall be the February 1 or August 1 (whether or not a Business Day), as
the case may be, next preceding an Interest Payment Date. Notwithstanding the
foregoing, if this Note is issued between a Regular Record Date and the related
Interest Payment Date, the interest so payable for the period from the Original
Issue Date to such Interest Payment Date shall be paid on the next succeeding
Interest Payment Date to the Registered Holder hereof on the related Regular
Record Date. For purposes of this Note, "Business Day" means any day, other than
Saturday or Sunday, that is (i) neither a legal holiday nor a day on which
banking institutions are authorized or required by law, regulation or executive
order to close in (a) The City of New York, (b) the City of Chicago, or (c) if
the Specified Currency for this Note is other than U.S. dollars, or Euro, the
Principal Financial Center (as defined below) of the country issuing such
currency; (ii) if the Specified Currency for this Note is Euro, a day on which
the TARGET System is operating or in any other place or any other days as may be
specified herein. "Principal Financial Center" will generally be the capital
city of the country issuing the currency or composite currency in which any
payment in respect of this Note is to be made, except that with respect to
Australian dollars, Deutsche marks, Dutch guilders, Italian lire and Swiss
francs, the Principal Financial Center shall be Sydney, Frankfurt, Amsterdam,
Milan and Zurich, respectively.

          The principal hereof and any premium and interest hereon are payable
by the Company in the Specified Currency shown above. If the Specified Currency
shown above is other than U.S. dollars, the Company or the Paying Agent will
(unless otherwise specified on the face hereof) arrange to convert all payments
in respect hereof into U.S. dollars in the manner described on the reverse
hereof. The Holder hereof may, if so indicated above, elect to receive all
payments in respect hereof in the Specified Currency by delivery of a written
notice to the Paying Agent not later than 15 calendar days prior to the
applicable payment date. Such election will remain in effect until revoked by
written notice to the Paying Agent received not later than 15 calendar days
prior to the applicable payment date. If the Company determines that the
Specified Currency is not available to the Company for making payments in
respect hereof due to the imposition of exchange controls or other circumstances
beyond the Company's control, then the Holder hereof may not so elect to receive
payments in the Specified Currency, and any such outstanding election shall be
automatically suspended, and payments shall be in U.S. dollars, until the
Company determines that the Specified Currency is again available to the Company
for making such payments.

                                      F-2
<PAGE>

          If this Note is a Certificated Note, payments of interest in U.S.
dollars (other than interest payable at Maturity) will be made by check mailed
to the address of the Person entitled thereto as such address shall appear on
the Debt Security Register on the applicable Regular Record Date, provided that,
                                                                  --------
if the Holder hereof is the Holder of U.S.$10,000,000 (or the equivalent thereof
in a Specified Currency other than U.S. dollars determined as provided on the
reverse hereof) or more in aggregate principal amount of Notes of like tenor and
term, such U.S. dollar interest payments will be made by wire transfer of
immediately available funds, but only if appropriate wire transfer instructions
have been received in writing by the Paying Agent not less than 15 calendar days
prior to the applicable Interest Payment Date.  Simultaneously with any election
by the Holder hereof to receive payments in respect hereof in the Specified
Currency (if other than U.S. dollars), such Holder shall provide appropriate
wire transfer instructions to the Paying Agent and all such payments will be
made by wire transfer of immediately available funds to an account maintained by
the payee with a bank located outside the United States.  Unless otherwise
specified on the face hereof, the principal hereof and any premium and interest
hereon payable at Maturity will be paid in immediately available funds upon
surrender of this Note at the Place of Payment.  If this Note is a Global
Security, beneficial owners of interest herein will be paid in accordance with
DTC's and its participants' procedures in effect from time to time.

          Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth in this place.

          Unless the Certificate of Authentication hereon has been executed by
the Trustee referred to on the reverse hereof (or by an Authenticating Agent, as
provided in the Indenture) by manual signature, this Note shall not be entitled
to any benefit under the Indenture or be valid or obligatory for any purpose.

                                      F-3
<PAGE>

          IN WITNESS WHEREOF, McDonald's Corporation has caused this Note to be
signed in its corporate name by the Chairman of the Board or its President or
one of its Vice Presidents manually or in facsimile and a facsimile of its
corporate seal to be imprinted hereon and attested by the manual or facsimile
signature of its Secretary or one of its Assistant Secretaries.

Dated:  ________________

                                             McDONALD'S CORPORATION

                                             By:____________________________
                                                Senior Vice President and
                                                Treasurer

ATTEST:

By:__________________________
   Secretary

                    TRUSTEE'S CERTIFICATE OF AUTHENTICATION

     This is one of the Debt Securities of the series designated herein provided
for in the within mentioned Indenture.

Dated:  ________________

                                             FIRST UNION NATIONAL BANK,
                                                  as Trustee

                                             BANK ONE TRUST COMPANY, N.A.,
                                                  as Authenticating Agent

                                             By:____________________________
                                                  Authorized Signatory

                                      F-4
<PAGE>

                            McDONALD'S CORPORATION
                          MEDIUM-TERM NOTE, SERIES G
                                 (FIXED RATE)

          This Note is one of a series of duly authorized issue of debentures,
notes or other evidences of indebtedness of the Company (the "Debt Securities")
of a series hereinafter specified, all issued or to be issued in one or more
series under a Senior Debt Securities Indenture, dated as of October 19, 1996
(herein called the "Indenture"), between the Company and First Union National
Bank, as trustee (herein called the "Trustee", which term includes any successor
trustee under the Indenture) to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Debt Securities and of the terms upon which the
Debt Securities are, and are to be, authenticated and delivered.  The Debt
Securities may be issued in one or more series, which different series may be
issued in various currencies, may be issued in various aggregate principal
amounts, may mature at different times, may bear interest (if any) at different
rates, may be subject to different redemption provisions (if any), may be
subject to different sinking, purchase or analogous funds (if any), may be
subject to different covenants and Events of Default and may otherwise vary as
in the Indenture provided.  This Debt Security is one of the series designated
on the face hereof, limited in aggregate initial public offering price or
purchase price of up to U.S.$1,500,000,000 or the equivalent thereof in one or
more foreign or composite currencies, including the Euro, subject to reduction
as a result of the sale of other Debt Securities.  The U.S. dollar equivalent of
the public offering price or purchase price of Notes denominated in a foreign or
composite currency will be determined by an agent designated by the Company,
which initially shall be Bank One Trust Company, N.A. (the "Paying Agent"), on
the basis of the noon buying rate in The City of New York for cable transfers in
foreign currencies as certified for customs purposes by the Federal Reserve Bank
of New York (the "Market Exchange Rate") for such currencies on the applicable
trade dates.

          "Maturity", when used with respect to this Note, means the date on
which the principal of this Note or an installment of principal becomes due and
payable as provided herein or in the Indenture, whether at Stated Maturity or by
declaration of acceleration, call for redemption or otherwise.

          Unless otherwise specified on the face hereof in the case of Notes
represented by a Global Security, the authorized denominations of Notes
denominated in U.S. dollars will be U.S.$1,000 and any larger amount that is a
multiple of U.S.$1,000.  The authorized denominations of Notes denominated in a
currency other than U.S. dollars will be as set forth on the respective faces
thereof.

          Each Note will be issued initially as either a Book-Entry Note or a
Certificated Note.

                                      R-1
<PAGE>

          If the Specified Currency is other than U.S. dollars, the amount of
any U.S. dollar payment to be made in respect hereof will be determined by the
Paying Agent based on the highest firm bid quotation expressed in U.S. dollars
received by the Paying Agent at approximately 11:00 a.m., New York City time, on
the second Business Day before the applicable payment date (or, if no such rate
is quoted on such date, the Paying Agent will use the last date on which such
rate was quoted), from three (or, if three are not available, then two)
recognized foreign exchange dealers in New York City (which may include the
agents, their affiliates or the Paying Agent) selected by the Paying Agent for
the purchase by the quoting dealer, for settlement on such payment date, of the
aggregate amount of the Specified Currency payable on such payment date in
respect of all Notes denominated in such Specified Currency.  All currency
exchange costs will be borne by the Holders of such Notes by deductions from
such U.S. dollar payments.  If no such bid quotations are available, then such
payments will be made in the Specified Currency, unless the Specified Currency
is unavailable due to the imposition of exchange controls or to other
circumstances beyond the Company's control, in which case payment will be made
as described in the next paragraph.

     If the Specified Currency is other than U.S. dollars and this Note is a
Global Note, the Holder of a beneficial interest in this Global Note may elect
to receive a payment or payments in the Specified Currency by notifying the DTC
participant through which its Notes are held on or prior to the applicable
Record Date of (1) the Holder's election to receive all or a portion of the
payment in the Specified Currency, and (2) wire transfer instructions to an
account located outside of the United States.  DTC must be notified of an
election and wire transfer instructions (1) on or prior to the third New York
Business Day (as defined below) after the Record Date for any payment of
interest, and (2) on or prior to the tenth New York Business Day after the
Record Date for any payment of principal.  DTC will notify the Paying Agent of
an election and wire transfer instructions (1) on or prior to 5:00 p.m. New York
City time on the fifth New York Business Day after the Record Date for any
payment of interest, and (2) on or prior to 5:00 p.m. New York City time on the
twelfth New York Business Day after the Record Date for any payment of
principal.  If complete instructions are forwarded to DTC through DTC
participants and by DTC to the Paying Agent on or prior to such dates, such
Holder will receive payment in the Specified Currency outside of DTC; otherwise,
only U.S. dollar payments will be made by the Paying Agent to DTC.

     The term "New York Business Day" means any day other than a Saturday or
Sunday or a day on which banking institutions in the City of New York are
authorized or required by law or executive order to close.

          Except as set forth below, if any payment in respect hereof is
required to be made in a Specified Currency other than U.S. dollars and such
currency is unavailable to the Company due to the imposition of exchange
controls or other circumstances beyond the Company's control or is no longer
used by the government of the country issuing such currency (unless otherwise
replaced by the Euro) or for the settlement of transactions by public
institutions of or within the international banking community, then such payment
shall be made in U.S. dollars until such currency is again available to the
Company or so used.  The amount so payable in such foreign currency shall be
converted into U.S. dollars on the basis of the

                                      R-2
<PAGE>

most recently available Market Exchange Rate for such currency or as otherwise
indicated on the face hereof. Any payment made under such circumstances in U.S.
dollars will not constitute an Event of Default under the Indenture.

          If the principal of and any interest and premium, if any, on the Notes
of a series is payable in any Specified Currency other than U.S. dollars and (i)
the country of which such Specified Currency has been a currency of legal tender
for the payment of public and private debts (the "Currency Country") becomes a
Participating Member State (as defined below), then the Issuer may, solely at
its option and without the consent of the Holders of such Notes or the need to
amend the Indenture, on any Interest Payment Date after the EMU Date and after
the date on which such country has become a Participating Member State has
occurred, respectively (such Interest Payment Date, a "Redenomination Date"),
redenominate all of the Notes of such series into Euros (whether or not any
Other Securities (as defined below) are so redenominated) upon the giving of not
less than 30 days' notice thereof in accordance with the terms of such Notes,
which notice shall set forth the manner in which such redenomination shall be
effected. If the Issuer elects to so redenominate a series of Notes, the Notes
of such series shall be redenominated:

          (i)  in such manner and subject to such procedures as the Issuer shall
     determine to be consistent with existing or anticipated market practice for
     the redenomination into Euros of debt obligations issued in the Euromarkets
     (whether denominated in such Specified Currency or otherwise) which are
     held in international clearing systems ("euromarket debt obligations"); or

          (ii) if no such determination as set out in clause (i) above is made,
     the Issuer shall convert the nominal Specified Currency amount of each Note
     of such series into Euros by using the Fixed Conversion Rate (as defined
     below) and rounding the resultant figure to the nearest cent (with 0.005 of
     a Euro being rounded upwards) (the "Redenominated Amount") and the Notes of
     the same series denominated in such Specified Currency shall be replaced
     either (1) by the Notes of the same series equal in value to the
     Redenominated Amount, denominated in Euros, each with a denomination of one
     cent; or (2) if the international clearing systems in which the Notes are
     then cleared and settled do not then accept for clearance and settlement
     redenominated euromarket debt obligations, each with a denomination of one
     cent, by Notes of the same series equal in value to the Redenominated
     Amount, denominated in Euros, each with a denomination of one Euro. Any
     balance remaining from a redenomination in accordance with clause (2) above
     shall be paid by way of cash adjustment. Such cash adjustment shall be
     payable in Euros on the Redenomination Date to, or to the order of, the
     Holders of the Notes of such series in a manner substantially similar to
     that provided herein for the payment of interest on the Notes.

          Despite the above procedures, the Issuer may, solely at its option and
without the consent of the Holders of the Notes or a series or the need to amend
the Indenture, upon the giving of not less than 30 days' irrevocable notice
thereof in accordance with the terms hereof (which notice shall set forth the
manner in which such further redenomination shall be

                                      R-3
<PAGE>

effected), elect that, with effect from the Redenomination Date for such series
or such later Interest Payment Date as it may specify (the "Specified Date"),
the denominations of the Notes of such series shall be one cent (if applicable),
Euro 1, Euro 10, Euro 100, Euro 1,000, Euro 10,000, Euro 100,000 and Euro
1,000,000; provided, however, that in no event shall the minimum denominations
of such Notes after the Redenomination Date with respect thereto be lower than
the equivalent of any minimum denominations of such Notes required by law,
regulation or market practice. If the Issuer so elects, the then-existing Euro-
denominated Notes of a series ("Original Euro Notes") shall be exchangeable for
Notes of such new denomination ("New Euro Notes") having the same aggregate
nominal amount as the Original Euro Notes so exchanged, in accordance with
procedures to be set forth in the relevant notice of redenomination.

          The definitions of Business Day and Market Day that shall apply to the
Notes for payments on or in respect thereof following any redenomination thereof
and for all other purposes under the Notes and under the Indenture shall be (A)
business day and market day definitions for fixed or floating rate (as
applicable) Euro-denominated debt obligations issued in the Euromarkets and held
in international clearing systems which are consistent with existing or
anticipated market practices as determined by the Issuer or (B) if no such
Business Day and Market Day definitions are so determined, the definitions of
Business Day and Market Day which applied to such Notes before redenomination or
(C) if the Issuer would be unable to make payments on the Notes on the date that
payment is expressed to be due if (B) above were to apply, such other business
day and market day definitions as are determined by the Issuer.

          If the Notes of a series are to be consolidated with Other Securities
(as defined below) by reference to the same Interest Payment Date as a
redenomination of the Notes of such series into Euros or to an Interest Payment
Date following the Interest Payment Date by reference to which the Notes of such
series are redenominated in Euros, the provisions below concerning consolidation
of Notes shall apply with effect from the Consolidation Date (as defined below)
for such consolidation.

          Unless and until the Notes of a series redenominated in accordance
with the provisions hereof are to be consolidated with Other Securities in
accordance with the provisions below concerning consolidation of Notes, the
interest accrual basis and the provisions of the Notes of such series relating
to the source and determination of such interest accrual basis that shall apply
to such Notes from, and including, the Interest Payment Date falling on or
immediately prior to the Redenomination Date shall be (i) the interest accrual
basis and such provisions which applied to such Notes prior to such
redenomination, unless such interest accrual basis is and/or such provisions are
inconsistent with the then-existing or anticipated market practice for Euro-
denominated debt obligations issued in the euromarkets with fixed rate or
floating rate interest payments (as the case may be) of frequencies identical or
substantially similar to the frequency of interest payments under such Notes,
based, in the case of floating interest rate payments, on the reference rate
applicable to such Notes prior to the Redenomination Date and held in
international clearing systems as determined by the Issuer or (ii) if the
interest accrual basis which applied to such Notes prior to the

                                      R-4
<PAGE>

Redenomination Date is and/or such provisions are so inconsistent, the interest
accrual basis and/or the provisions of the Notes of such series relating to the
source and determination of such interest accrual basis, as the case may be,
which is consistent with the then-existing or anticipated market practice for
Euro-denominated debt obligations issued in the euromarkets with fixed rate or
floating rate interest payments (as the case may be) of frequencies identical or
substantially similar to the frequency of interest payments under such Notes,
based, in the case of floating interest rate payments, on the reference rate
applicable to such Notes (adjusted as aforesaid) and held in international
clearing systems as determined by the Issuer.

          The Issuer may, with the consent of the Trustee, and without the need
to obtain the consent of the Holder of any Note, make any changes or additions
to the terms of the Notes of a series which (i) the Issuer or the Trustee
believes are necessary or appropriate to facilitate the implementation of the
practical aspects of this section as they relate to such Notes in the context of
the introduction of the Euro or (ii) correct any clear error or any ambiguity or
correct or supplement any defective provisions described herein and which
changes or additions the Issuer and the Trustee believe are not materially
prejudicial to the interests of the Holders of the Notes of such series.  Any
such change or addition shall be binding on the Issuer, the Holders of the Notes
of such series, the Trustee, the Paying Agents and any other agent of the
Issuer.  The Issuer shall promptly give Holders notice of any such change or
addition.

          "EMU" means Economic and Monetary Union as contemplated by the Treaty
of Rome;

          "EMU Date" means the day on which the third stage of EMU has started
or events have occurred which have substantially the same effects and which
result in substantially the same consequences as the effects and consequences of
the start of third stage of EMU as contemplated by the Maastricht Treaty in
effect as of the date of the Indenture;

          "Euro" means the single or unified currency to be introduced in the
Participating Member States, whether known as the Euro or otherwise;

          "Fixed Conversion Rate" with respect to any Specified Currency means
the irrevocably fixed conversion rate between the Euro and such Specified
Currency adopted by the Council of the European Union according to Article 109
1(4) first sentence of the Treaty of Rome;

          "Maastricht Treaty" means the treaty on European Union which was
signed in Maastricht on February 1, 1992 and came into force on November 1,
1993;

          "Participating Member State" means a member state of the European
Community that adopts the Euro in accordance with the Treaty of Rome; and

          "Treaty of Rome" means the Treaty of Rome of March 25, 1957, as
amended by the Single European Act of 1986 and the Maastricht Treaty,
establishing the European Community, as amended from time to time.

                                      R-5
<PAGE>

          If (i) the principal of and any interest and premium (if any) on the
Notes of a series is payable in any Specified Currency other than U.S. dollars
and (ii) after the EMU Date, the Currency Country has become a Participating
Member State, then, subject to the provisions below, the Issuer may, without the
consent of the Holders of such Notes or the need to execute a supplemental
indenture to the Indenture, on any Interest Payment Date after the EMU Date (as
defined above) has occurred (or if that day is not a business day in any
location(s) which is or are determined by the Issuer to be necessary or
appropriate for the consolidation of the Notes of such series, the next
following day which is a business day in such location(s)) (each a
"Consolidation Date"), and on the giving of not less than 30 days' notice prior
to the Interest Payment Date falling on or immediately prior to the relevant
Consolidation Date in accordance with the terms hereof (which notice shall
detail the manner in which consolidation shall be effected), consolidate the
Notes of such series with one or more series of Other Securities, provided,
however, (i) that such consolidation may only be carried out if the Notes of
such series and the Other Securities to be consolidated have been redenominated
in Euros on or before the Interest Payment Date falling on or immediately prior
to the relevant Consolidation Date (if not already so denominated), and (ii)
that no Event of Default under the Notes of such series or other event which,
with the giving of notice or the passage of time or both, would be an Event of
Default under the Notes of such series, or any similar event under the terms of
such Other Securities, has occurred and is continuing.

          "Other Securities" means, at any time, any one or more series of other
Notes or other notes or bonds of the Issuer which (i) are issued pursuant to the
Indenture or an indenture supplemental thereto and have the same or
substantially the same terms and conditions (as then in effect and which have
not lapsed), and the benefit of the same rights, as the Notes of a series (other
than in relation to the currency of original denomination and/or the
denomination and/or the terms and conditions of Notes of such series relating to
business days or interest accrual bases and/or the stock exchange(s) (if any) on
which such other Notes or other notes or bonds are listed and/or the clearing
systems through which such other Notes or other notes or bonds are cleared and
settled and/or redenomination into Euros and/or notices) and (ii) have been
designated by the Issuer as falling within clause (i) above and remain so
designated.

          The Issuer may exercise its right referred to above if it determines
that the Notes of a series and Other Securities which it proposes to consolidate
(collectively, the "Consolidating Securities") will, with effect from the date
of their consolidation, (i) be cleared and settled on an interchangeable basis
with the same securities identification numbers through the main clearing
systems through which the Notes of such series and the relevant Other Securities
were cleared and settled immediately prior to consolidation unless on the date
of such proposed consolidation it will be impossible to so clear and settle the
Consolidating Securities in one or more of such main clearing systems, in which
case the Consolidating Securities need not so clear and settle through such
unavailable clearing system(s) unless it would be materially prejudicial to the
Holders of the Notes of such series who hold their Notes through such clearing
system(s) and (ii) if either the Notes of such series or the relevant Other
Securities were listed on any European stock exchange on which debt obligations
issued in the

                                      R-6
<PAGE>

Euromarkets are customarily listed immediately prior to the consolidation
contemplated hereby, be listed on at least one such exchange.

          Notwithstanding the preceding paragraph, the definitions of Business
Day and Market Day that shall apply to a Note for payments on or in respect of
such Note following consolidation thereof shall be (A) business day and market
day definitions for fixed or floating rate (as applicable) Euro-denominated debt
obligations issued in the Euromarkets and held in international clearing systems
which are consistent with existing or anticipated market practice as determined
by the Issuer, or (B) the component business days included in the Business Day
and Market Day which applied to such Note and the business day and market day
definitions which applied to the relevant Other Securities for payments thereon
or in respect thereof prior to consolidation or (C) if the Issuer would be
unable to make payments on such Note on the date that payment is expressed to be
due if (B) above were to apply, such other business day and market day
definitions as are determined by the Issuer.

          The interest accrual basis and the provisions of the Notes of a series
relating to the source and determination of such interest accrual basis that
shall apply to the Notes of such series consolidated in accordance with the
provisions hereof from, and including, the Interest Payment Date falling on or
immediately prior to the Consolidation Date shall remain the same if the Other
Securities which have been consolidated with such Notes had the same interest
accrual basis and the same such provisions prior to such consolidation as
applies to such Notes.  If such Other Securities do not have such same interest
accrual basis and/or the same such provisions, then notwithstanding the
provisions above concerning redenomination of Notes, the interest accrual basis
and/or the provisions of the Notes of such series relating to the source and
determination of such interest accrual basis, as the case may be, that shall
apply to such Notes from, and including, the Interest Payment Date falling on or
immediately prior to such Consolidation Date shall be (i) the interest accrual
basis and/or such provisions which applied to such Notes prior to their
consolidation, unless such interest accrual basis is and/or such provisions are
inconsistent with the then-existing or anticipated market practice for Euro-
denominated debt obligations issued in the Euromarkets with fixed rate or
floating rate interest payments (as the case may be) of frequencies identical or
substantially similar to the frequency of interest payments thereunder and held
in international clearing systems, as determined by the Issuer, or (ii) if the
interest accrual basis which applied to such Notes prior to their consolidation
is and/or such provisions are so inconsistent, the interest accrual basis and/or
the provisions of the Notes of such series relating to the source and
determination of such interest accrual basis, as the case may be, which is
consistent with the then-existing or anticipated market practice for Euro-
denominated debt obligations issued in the Euromarkets with fixed rate or
floating rate interest payments (as the case may be) of frequencies identical or
substantially similar to the frequency of interest payments hereunder and held
in international clearing systems, as determined by the Issuer.

          On a consolidation pursuant to the provisions hereof, the Issuer may
without the need to obtain the consent of Holders of the affected Notes, alter
the nominal amounts in which such Notes are denominated as a result of any
previous redenomination of such Notes.

                                      R-7
<PAGE>

          Upon any consolidation of the Notes of a series represented by a
Global Note with any series of Other Securities so represented, the Issuer may
change the depositary(ies) which hold(s) the Notes of such series and/or the
relevant Other Securities either physically or on behalf of the clearing
system(s) through which the Notes of such series and/or the relevant Other
Securities are held and/or issue a replacement Global Note or Global Notes
representing such Notes.  Notes of series represented by Certificated Notes must
be exchanged for Notes represented by a Global Note prior to any consolidation
hereunder.  If such exchange is not possible pursuant to the terms of such
Notes, no such consolidation of such Notes with Other Securities represented by
a Global Note may take place.

          The Issuer undertakes to the Holders of the Notes of a series
consolidated in accordance with the provisions hereof that, following a
consolidation of the Notes of such series with a series of Other Securities, it
shall, in dealing with the Holders of the Notes of such series, have regard to
the interests of such Holders and the Holders of the relevant Other Securities
alike.

          The Issuer may, with the consent of the Trustee, and without the need
to obtain the consent of the Holders of any Note, make any changes or additions
to the terms of the Notes of a series which (i) the Issuer or the Trustee
believes are necessary or appropriate to facilitate the implementation of the
practical aspects of this section as they relate to such Notes in the context of
the relevant consolidation or (ii) correct any manifest error or any ambiguity
or correct or supplement any defective provisions described herein, and which
changes or additions the Issuer and the Trustee believe are not materially
prejudicial to the interests of the Holders of the Notes of such series.  Any
such change or addition shall be binding on the Issuer, the Holders of the Notes
of such series, the Trustee, the Paying Agents and any other agent of the
Issuer.  Any change or addition shall be considered to be made by operation of
the terms of the relevant Notes.  The Issuer shall promptly give notice of any
such change or addition.

          Except as provided in the Note or in the Pricing Supplement with
respect to the redenomination of the Notes of a series into Euros or the
consolidation of a series of Notes with other series of Notes upon or subsequent
to such conversion, the occurrence or non-occurrence of an EMU Event (as defined
below) or the entry into force of any law, regulation, directive or order
requiring redenomination or consolidation to be undertaken on terms different
than those described herein, will not have the effect of altering any term of,
or discharging or excusing performance under, the Indenture or Notes nor give
the Issuer, the Trustee or the Holder of such Notes, the right unilaterally to
alter or terminate the Indenture or Notes or give rise to any Event of Default
or otherwise be the basis for any acceleration, early redemption, rescission,
notice, repudiation, adjustment or renegotiation of the terms of the Indenture
or Notes.  The occurrence or non-occurrence of an EMU Event will be considered
to occur automatically pursuant to the terms of the Notes. For purposes hereof,
"EMU Event" means any event associated with EMU in the European Community,
including, without limitation, each (and any combination) of (i) the fixing of
exchange rates between the currency of a Participating Member State and the Euro
or between the currencies of Participating Members States; (ii) the introduction
of the Euro as lawful currency in a

                                      R-8
<PAGE>

Participating Member State; (iii) the withdrawal from legal tender of any
currency that, before the introduction of the Euro, was lawful currency in any
of the Participating Member States; or (iv) the disappearance or replacement of
a relevant rate option or other price source for the national currency of any
participating Member State, or the failure of the agreed sponsor (or a successor
sponsor) to publish or display a relevant rate, index, price, page or screen.

          If so specified on the face hereof, the Company may, at its option,
redeem this Note in whole, or from time to time in part in accordance with the
procedures set forth in the Indenture, on the date or dates designated as the
Optional Redemption Date(s) on the face hereof, at the Redemption Price(s)
specified on the face hereof declining from a specified premium, if any, to par,
together with accrued interest to the Optional Redemption Date.  The Company may
exercise such option by causing the Trustee or the Paying Agent to mail a notice
of such redemption at least 30 but not more than 60 days prior to the applicable
Optional Redemption Date.  In the event of redemption of this Note in part only,
a new Note or Notes for the unredeemed portion hereof shall be issued in the
name of the Holder hereof upon the cancellation hereof.

          If so specified on the face hereof, this Note will be repayable prior
to its Stated Maturity at the option of the Holder on the Optional Repayment
Date(s) shown on the face hereof at the Optional Repayment Price(s) shown on the
face hereof, together with accrued interest to the date of repayment.  In order
for this Note to be repaid, the Paying Agent must receive at least 30 but not
more than 45 days prior to an Optional Repayment Date (i) this Note with the
form below entitled "Option to Elect Repayment" duly completed; or (ii) a
facsimile transmission or letter from a member of a national securities exchange
or the National Association of Securities Dealers, Inc. or a commercial bank or
trust company in the United States of America setting forth the name of the
Holder of this Note, the principal amount of the Note to be repaid, the
certificate number or a description of the tenor and terms of this Note, a
statement that the option to elect repayment is being exercised thereby and a
guarantee that this Note with the form below entitled "Option to Elect
Repayment" duly completed will be received by the Paying Agent not later than
five Business Days after the date of such facsimile transmission or letter.  If
the procedure described in clause (ii) of the preceding sentence is followed,
this Note with the form duly completed must be received by the Paying Agent by
such fifth Business Day.  Any tender of this Note for Repayment shall be
irrevocable.  The repayment option may be exercised by the Holder of this Note
for less than the entire principal amount of the Note, provided that the
                                                       --------
principal amount of this Note remaining outstanding after repayment is an
authorized denomination.  Upon such partial repayment, this Note shall be
canceled and a new Note or Notes for the remaining principal amount hereof shall
be issued in the name of the Holder of this Note.

          Unless otherwise specified on the face hereof, this Note will not be
subject to any sinking fund.  Any such sinking fund shall be administered in
accordance with the terms specified on the face hereof and otherwise as set
forth in the Indenture.

          Notwithstanding anything herein to the contrary, if this Note is an
Original Issue Discount Note, the amount payable in the event of redemption or
repayment prior to the

                                      R-9
<PAGE>

Stated Maturity hereof, in lieu of the principal amount due at the Stated
Maturity hereof, shall be the Amortized Face Amount of this Note as of the
Optional Redemption Date or the Optional Repayment Date, as the case may be. The
"Amortized Face Amount" of this Note shall be the amount equal to (a) the Issue
Price (as set forth on the face hereof) plus (b) that portion of the difference
between the Issue Price and the principal amount hereof that has accrued at the
Yield to Stated Maturity (as set forth on the face hereof) (computed in
accordance with generally accepted United States bond yield computation
principles) at the date as of which the Amortized Face Amount is calculated, but
in no event shall the Amortized Face Amount of this Note, if it is an Original
Issue Discount Note, exceed its principal amount.

          If this Note is a Global Security, ownership of beneficial interests
herein will be limited to participants in DTC or persons that hold interests
through such participants, and the transfer of beneficial interests herein will
be effected only through records maintained by DTC (and with respect to
interests of participants in DTC) and by participants in DTC or persons that may
hold interests through such participants (with respect to persons other than
participants in DTC).

          As provided in the Indenture and subject to certain limitations
therein set forth, this Note is exchangeable for a like aggregate principal
amount of Notes of different authorized denominations, as requested by the
Person surrendering the same.

          If this Note is a Global Security, this Note is exchangeable only if
(x) DTC notifies the Company that it is unwilling or unable to continue as
depositary for this Note or if at any time DTC ceases to be in good standing
under the Securities Exchange Act of 1934, as amended, and the Company does not
appoint a successor depositary within 90 days after the Company receives such
notice or becomes aware that DTC is no longer in good standing; or (y) the
Company in its sole discretion determines that this Note shall be exchanged for
Certificated Notes in definitive form, provided that the definitive Notes so
issued in exchange for this Note shall be in authorized denominations and be of
like aggregate principal amount and tenor and terms as the portion of this Note
to be exchanged.  Except as provided above, owners of beneficial interests in
this Note (if a Global Security) will not be entitled to have this Note or Notes
represented by this Note registered in their names or receive physical delivery
of Notes in definitive form and will not be considered the Holders hereof for
any purpose under the Indenture.

          As provided in the Indenture and subject to certain limitations
therein set forth, this Note is transferable on the Debt Security register of
the Company, upon surrender of this Note for registration of transfer at the
offices or agencies as may be designated and maintained by the Company for such
purpose in accordance with the provisions of the Indenture, duly endorsed by or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Debt Security registrar, duly executed by the Holder hereof or
his attorney duly authorized in writing, and thereupon one or more new Notes of
this series, of authorized denominations and for the same aggregate principal
amount, will be issued to the designated transferee or transferees.

                                     R-10
<PAGE>

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

          The Company, the Trustee and any agent of the Company or of the
Trustee may treat the Person in whose name this Note is registered as the owner
hereof for the purpose of receiving payment as herein provided and for all other
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor such agent shall be affected by notice to the contrary.

          If an Event of Default shall occur and be continuing with respect to
the Notes, the unpaid principal amount of 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 Company and the
Trustee, with the consent of the Holders of not less than 66 2/3% in aggregate
principal amount of each series of the Debt Securities at the time outstanding
(as defined in the Indenture) to be affected (each series voting as a class),
evidenced as in the Indenture provided, to execute supplemental indentures
adding any provisions to or changing in any manner or eliminating any of the
provisions of the Indenture or of any supplemental indenture or modifying in any
manner the rights of the Holders of the Debt Securities of all such series;
provided, however, that no such supplemental indenture shall, among other
--------  -------
things, (i) extend the fixed maturity of any Debt Security, or reduce the rate
or extend the time of payment of interest thereon, or reduce the principal
amount or premium if any, thereon, or make the principal thereof, or premium if
any, or interest, if any, thereon payable in any coin or currency other than
that hereinabove provided, without the consent of the Holder of each Debt
Security so affected or reduce the amount of principal of an Original Issue
Discount Security that would be due and payable upon acceleration of maturity
thereof, or (ii) reduce the aforesaid percentage of Debt Securities the Holders
of which are required to consent to any such supplemental indenture, without the
consent of the Holders of each Debt Security so affected.  The Indenture also
contains provisions permitting the Holders of a majority in aggregate principal
amount of the Notes at the time Outstanding, as defined in the Indenture, on
behalf of the Holders of all the Notes, to waive compliance by the Company with
certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences.  Any such consent or waiver by the Holder of
this Note shall be conclusive and binding upon such Holder and upon all future
Holders of this Note and of any Notes issued upon the transfer hereof or in
exchange therefor or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note or upon any Note issued upon the transfer hereof
or in exchange therefor or in lieu hereof.

          No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, places and rate, and in the coin and currency, herein prescribed.

                                     R-11
<PAGE>

          No recourse shall be made for the payment of the principal of or the
interest on this Note or for any claim based herein or otherwise in any manner
in respect hereof, or in respect of the Indenture, against any incorporator,
stockholder, officer or director, as such past, present or future, of the
Company or of any predecessor or successor corporation, whether by virtue of any
constitutional provision or statute or rule of law, or by the enforcement of any
assessment or penalty or in any other manner, all such liability being expressly
waived and released by the acceptance hereof and as part of the consideration
for the issue hereof.

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

                                     R-12
<PAGE>

                                 ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:
<TABLE>
<S>                                           <C>                                 <C>
TEN COM -as tenants in common                 UNIF GIFT MIN ACT-  _________                              Custodian
TEN ENT -as tenants by the entireties                                             ________  (Cust) _______  (Minor)
JT ENT  -as joint tenants with right of                                           Under Uniform Gifts to Minors Act
         survivorship and not as tenants
         in common                                                                _________________________________
                                                                                                            (State)
</TABLE>

    Additional abbreviations may also be used though not in the above list

     ______________________________________________________________________

                           OPTION TO ELECT REPAYMENT

     The undersigned hereby irrevocably requests and instructs the Company to
repay $__________ principal amount of the within Note, pursuant to its terms, on
the "Optional Repayment Date" first occurring after the date of receipt of the
within Note as specified below, together with interest thereon accrued to the
date of repayment, to the undersigned at:

____________________________________________________________

____________________________________________________________
(Please Print or Type Name and Address of the Undersigned)

and to issue to the undersigned, pursuant to the terms of the Indenture, a new
Note or Notes representing the remaining principal amount of this Note.

     For this Option to Elect Repayment to be effective, this Note with the
Option to Elect Repayment duly completed must be received by the Company within
the relevant time period set forth above at its office or agency in the Borough
of Manhattan, the City and State of New York, located initially at the office of
the Registrar at Bank One Trust Company, N.A./First Chicago Trust Company of New
York, 14 Wall Street - 8th Floor, Window 2, New York, New York 10005, Attention:
Corporate Trust Administration.

Dated:____________________   ___________________________________________________
                             Note:  The signature to this Option to Elect
                             Repayment must correspond with the name as written
                             upon the face of the within Note in every
                             particular without alteration or enlargement or any
                             change whatsoever.

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto

 Please Insert Social Security or Other
   Identifying Number of Assignee

____________________________________________________________

____________________________________________________________
Please Print or Typewrite Name and Address of Assignee

____________________________________________________________
the within Instrument of McDONALD'S CORPORATION and hereby does irrevocably
constitute and appoint

___________________________________ Attorney
to transfer such Note on the books of McDONALD'S CORPORATION with full power of
substitution in the premises.

Dated:_____________________       ____________________________
                                  Signature

NOTICE:  The signature to this assignment must correspond with the name as it
appears upon the face of the Note in every particular, without alteration or
enlargement or any change whatsoever.

                                     R-13
<PAGE>

Document #: 134551v1

                                     R-14

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