Document:

EX-10.25

 EXHIBIT 10.25 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO
THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE
SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 WARRANT TO PURCHASE STOCK 
  

			
	Company: Tetraphase Pharmaceuticals, Inc., a Delaware corporation
	Number of Shares: 482,302, subject to adjustment
	Class of Stock:	 	Series C Convertible Participating Preferred Stock, $0.001 par value per share
	Warrant Price:	 	$0.2571, subject to adjustment
	Issue Date:	 	December 20, 2012
	Expiration Date:	 	December 20, 2022
	Credit Facility:	 	This Warrant is issued in connection with that certain First Amendment to Loan and Security Agreement of even date herewith among Silicon Valley Bank, Oxford Finance LLC, Tetraphase
Securities Corporation, and the Company which amends that certain Loan and Security Agreement, dated May 16, 2011 among said parties (as amended, the “Loan Agreement”).

 THIS WARRANT CERTIFIES THAT, for good and valuable consideration, OXFORD FINANCE LLC (“Oxford”
and, together with any successor or permitted assignee or transferee of this Warrant or of any shares issued upon exercise hereof, “Holder”) is entitled to purchase the number of fully paid and non-assessable shares (the
“Shares”) of the above-stated Type/Series of Stock (the “Class”) of the above-named company (the “Company”) at the above-stated Warrant Price, all as set forth above and as
adjusted pursuant to Section 2 of this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 

ARTICLE 1. EXERCISE. 

1.1 Method of Exercise. Holder may exercise this Warrant by delivering the original of this Warrant together with a duly executed
Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the conversion right set forth in Article 1.2, Holder shall also deliver to the Company a certified or bank
check, wire transfer of immediately available funds (to an account designated by the Company), or other form of payment acceptable to the Company for the aggregate Warrant Price for the Shares being purchased. 

 1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1,
Holder may from time to time elect to convert this Warrant, in whole or in part, on a cashless basis by delivering the original of this Warrant together with a duly executed Notice of Exercise and by canceling a portion of this Warrant in payment of
the Warrant Price payable in respect of the number of Shares purchased upon such exercise. In the event of an exercise pursuant to this Article 1.2, the number of Shares issued to the holder shall be determined by dividing (a) the aggregate
fair market value of the Shares for which this Warrant is being exercised (which shall include both the number of Shares issued to the Holder and the number of Shares subject to the portion of the Warrant being cancelled) minus the aggregate Warrant
Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Article 1.3. 
 1.3 Fair Market Value. If the Company’s common stock is then traded or quoted on a nationally recognized securities exchange, inter-dealer quotation system or over-the-counter market (a
“Trading Market”) and the Class is common stock, the fair market value of a Share shall be the closing price or last sale price of a share of common stock reported for the Business Day immediately before the date on which Holder delivers
this Warrant together with its Notice of Exercise to the Company. If the Company’s common stock is then traded in a Trading Market and the Class is a series of the Company’s convertible preferred stock, the fair market value of a Share
shall be the closing price or last sale price of a share of the Company’s common stock reported for the Business Day immediately before the date on which Holder delivers this Warrant together with its Notice of Exercise to the Company
multiplied by the number of shares of the Company’s common stock into which a Share is then convertible. If the Company’s common stock is not traded in a Trading Market, the Board of Directors of the Company shall determine the fair market
value of a Share in its reasonable good faith judgment. 
 1.4 Delivery of Certificate and New Warrant. Promptly after
Holder exercises or converts this Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully exercised or
converted and has not expired, a new Warrant representing the Shares not so acquired. 
 1.5 Replacement of Warrants. On
receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount
to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 

1.6 Treatment of Warrant Upon Acquisition of Company. 
 1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale, license, or other disposition of all or substantially all of the assets of the Company, or
any reorganization, consolidation, merger or sale of outstanding capital stock of the Company where the holders of the Company’s securities before the transaction beneficially own less than a majority of the outstanding voting securities of the
surviving entity after the transaction. 

  
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 1.6.2 Treatment of Warrant at Acquisition. 

A) Holder agrees that, in the event of an Acquisition in which the consideration is solely cash, solely Marketable Securities, or a combination of cash
and Marketable Securities, Holder shall either (a) exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the closing of such Acquisition and any part of this Warrant not
exercised by the closing of such Acquisition will expire or (b) elect not to exercise its conversion or purchase right under this Warrant, in which case this Warrant will expire upon the closing of such Acquisition. The Company shall provide
the Holder with written notice of any Acquisition (together with such reasonable information as the Holder may request in connection with such Acquisition) not less than ten (10) days prior to the closing of the proposed Acquisition.

 B) Holder agrees that, in the event of an Acquisition that is an “arms length” sale of all or substantially all of the
Company’s assets to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”), Holder shall exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective
immediately prior to the closing of such Acquisition and any part of this Warrant not exercised by the closing of such Acquisition will expire; provided, however, that if the Company continues as a going concern following the closing of any such
True Asset Sale and Holder elects not to exercise the Warrant, this Warrant will continue to be exercisable until the Expiration Date. The Company shall provide the Holder with such reasonable information as the Holder may request in connection with
such contemplated Acquisition, which is to be delivered to Holder not less than ten (10) days prior to the closing of the proposed Acquisition. 
 C) Upon the closing of any Acquisition other than those particularly described in subsections (A) and (B) above, the successor entity shall assume the obligations of this Warrant, and this
Warrant shall be exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition
and subsequent closing. The Warrant Price and/or number of Shares shall be adjusted accordingly. 
 As used herein “Affiliate” shall
mean any person or entity that owns or controls directly or indirectly ten percent (10%) or more of the stock of Company, any person or entity that controls or is controlled by or is under common control with such persons or entities, and each
of such person’s or entity’s officers, directors, joint venturers or partners, as applicable. 
 As used herein, “Marketable
Securities” means securities meeting all of the following requirements: (i) the issuer thereof is then subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and is then current in its filing of all required reports and other information under the Act and the Exchange Act; (ii) the class and series of shares or other security of the issuer that would be received by Holder
in connection with the Acquisition were Holder to exercise this Warrant on or prior to the closing thereof is then traded in Trading Market, and (iii) following the closing of such Acquisition, Holder would not be restricted from publicly
re-selling all of the issuer’s shares and/or other securities that would be received by Holder in such Acquisition were Holder to exercise or convert 

  
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this Warrant in full on or prior to the closing of such Acquisition, except to the extent that any such restriction (x) arises solely under federal or state securities laws, rules or
regulations, and (y) does not extend beyond six (6) months from the closing of such Acquisition. 
 ARTICLE 2. ADJUSTMENTS TO THE
SHARES. 
 2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the outstanding shares of
the Class payable in Common Stock or other securities, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had
Holder owned the Shares as of the record date for the dividend. If the Company subdivides the outstanding shares of the Class by reclassification or otherwise into a greater number of shares or takes any other action which increase the amount of
Common Stock into which the one share of the Class is convertible, the number of Shares purchasable hereunder shall be proportionately increased and the Warrant Price shall be proportionately decreased. If the outstanding shares of the Class are
combined or consolidated, by reclassification or otherwise, into a lesser number of shares of the Class, the Warrant Price shall be proportionately increased and the number of Shares shall be proportionately decreased. 

2.2 Reclassification, Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution, or other event
that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant (other than those transactions contemplated by Article 1.6 or Article 2.1), Holder shall be entitled to receive, upon exercise
or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an
event shall include, without limitation, any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to Common Stock pursuant to the terms of the Company’s Amended and Restated
Certificate of Incorporation, as amended from time to time (the “Certificate of Incorporation”). The Company or its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new
securities or other property issuable upon exercise or conversion of this Warrant as a result of such reclassification, exchange, substitution or other event that results in a change of the number and/or class of securities issuable upon exercise or
conversion of this Warrant. The amendment to this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the
Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 

2.3 Adjustments for Diluting Issuances. The number of shares of Common Stock issuable upon conversion of the Shares shall be
subject to adjustment, from time to time in the manner set forth in the Certificate of Incorporation as if the Shares were issued and outstanding on and as of the date of any such required adjustment. The provisions set forth for the Class in the
Certificate of Incorporation relating to the above in effect as of the Issue Date may not be amended, modified or waived, without the prior written consent of Holder unless such amendment, 

  
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modification or waiver affects the rights associated with the Shares in the same manner as such amendment, modification or waiver affects the rights associated with all other shares of Class.

 2.4 No Impairment. The Company shall not, by amendment of its Certificate of Incorporation or through a
reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this
Warrant by the Company, but shall at all times in good faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article against
impairment. 
 2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of the Warrant
and the number of Shares to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall eliminate such fractional share interest by paying Holder
the amount computed by multiplying the fractional interest by the fair market value of a full Share. 
 2.6 Certificate as to
Adjustments. Upon each adjustment of the Warrant Price, Class and/or number of Shares, the Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute such adjustment, and furnish Holder with a
certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price, Class and number of
Shares in effect upon the date thereof and the series of adjustments leading to such Warrant Price, Class and number of Shares. 
 ARTICLE 3.
REPRESENTATIONS AND COVENANTS OF THE COMPANY. 
 3.1 Representations and Warranties. The Company represents and
warrants to, and agrees with, the Holder as follows, as of the Issue Date: 
 (a) The initial Warrant Price referenced on the
first page of this Warrant is not greater than the price per share at which shares of the same class and series as the Shares were last issued in an arms-length transaction in which at least $500,000 of such shares were sold. 

(b) All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any,
issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable
federal and state securities laws. 
 (c) The Company’s capitalization table attached hereto as Schedule 1 is true
and complete as of the Issue Date. 
 3.2 Notice of Certain Events. If the Company proposes at any time (a) to
declare any dividend or distribution upon the outstanding shares of the same class and series as the Shares, whether in cash, property, stock, or other securities and 

  
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whether or not a regular cash dividend; (b) to offer for subscription or sale pro rata to the holders of the outstanding shares of the same class and series as the Shares any additional
shares of any class or series of the Company’s stock (other than pursuant to contractual pre-emptive rights); (c) to effect any reclassification, reorganization or recapitalization of any of its stock; (d) to effect an Acquisition or
to liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering of the company’s securities for cash, then, in connection with each such event, the Company
shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of shares of the same class and
series as the Shares will be entitled thereto) or for determining rights to vote, if any, in respect of the matters referred to in (c) and (d) above; (2) in the case of the matters referred to in (c) and (d) above at least
10 days prior written notice of the date when the same will take place (and specifying the date on which the holders of shares of the same class and series as the Shares will be entitled to exchange their shares for the securities or other property
deliverable upon the occurrence of such event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to the holders of such registration rights. 

3.3 Intentionally Omitted. 
 3.4 No Shareholder Rights. Except as provided in this Warrant, Holder will not have any rights as a shareholder of the Company until the exercise of this Warrant. 

3.5 Certain Information. At all times prior to the earlier to occur of (i) the IPO, or (ii) the Acquisition of the
Company by an entity subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, the Company agrees to provide Holder at any time and from time to time with such information as
Holder may reasonably request for purposes of Holder’s compliance with regulatory, accounting and reporting requirements applicable to Holder. Holder agrees to treat and hold all such information provided by the Company in confidence in
accordance with the provisions of Section 12.9 of the Loan Agreement (regardless of whether the Loan Agreement is still then in force and effect). 
 ARTICLE 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER. The Holder represents and warrants to the Company as follows: 
 4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder will be acquired for investment for Holder’s account, not as a nominee or
agent, and not with a view to the public resale or distribution within the meaning of the Act. Holder also represents that it has not been formed for the specific purpose of acquiring this Warrant or the Shares. 

4.2 Disclosure of Information. Holder has received or has had full access to all the information it considers necessary or
appropriate to make an informed investment decision with respect to the acquisition of this Warrant and its underlying securities. Holder further has had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the offering of this Warrant and its underlying securities and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary to verify any
information furnished to Holder or to which Holder has access. 

  
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 4.3 Investment Experience. Holder understands that the purchase of this Warrant and
its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies in the development stage and acknowledges that Holder can bear the economic risk of such Holder’s investment in this Warrant
and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities and/or has a preexisting
personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons.

 4.4 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D
promulgated under the Act. 
 4.5 The Act. Holder understands that this Warrant and the Shares issuable upon exercise or
conversion hereof have not been registered under the Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as expressed herein. Holder
understands that this Warrant and the Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Act and qualified under applicable state securities laws, or unless exemption from such
registration and qualification are otherwise available. 
 4.6 Lockup Agreements. The Holder, if the Company or the
managing underwriter(s) so request in connection with the Company’s initial underwritten public offering, will not, transfer or dispose of any equity securities of the Company, without the prior written consent of the Company or such
underwriter(s) and provided that the officers and directors of the Company and all holders (other than, for purposes of this determination, such Holder) of at least two percent (2%) of all of the issued and outstanding shares of capital
stock of the Company (determined on an as-converted basis) also agree not to, transfer or dispose any equity securities of the Company, including any sale pursuant to Rule 144 of the Commission under the Securities Act, during the seven
(7) days prior to, and during the one hundred eighty (180) day period commencing on the effective date of such initial underwritten public offering, subject to extension in order to ensure FINRA compliance, except in connection with such
initial underwritten public offering. The Company may impose stop-transfer instructions with respect to the Shares or other securities subject to the foregoing restriction until the end of such 180-day period. Any discretionary waiver or termination
of the foregoing restriction by the Company or the underwriters shall apply pro rata to all Holders, based on the number of Shares held by such Holders, and prompt written notice of such discretionary waiver or termination shall be given to all
Holders of the Shares. 
 ARTICLE 5. MISCELLANEOUS. 
 5.1 Term: This Warrant is exercisable in whole or in part at any time and from time to time on or before the Expiration Date. 

  
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 5.2 Legends. This Warrant and the Shares (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in substantially the following form: 
 THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF ARTICLE 5 OF THAT CERTAIN WARRANT TO PURCHASE STOCK ISSUED BY THE COMPANY TO OXFORD
FINANCE LLC DATED AS OF DECEMBER 20, 2012, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL COUNSEL IN FORM AND
SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION. 
 5.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the
Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee (including, without limitation, the delivery of investment
representation letters and legal opinions reasonably satisfactory to the Company, as reasonably requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the transfer is to any affiliate of Holder, provided
that any such transferee is an “accredited investor” as defined in Regulation D promulgated under the Act. 
 5.4
Transfer Procedure. Following the issuance of this Warrant to Oxford, Oxford may transfer same in whole or in part to one or more affiliates of Oxford, and in connection with any such transfer Oxford and the affiliate transferee shall execute
and deliver to the Company an Assignment substantially in the form of Appendix 2 hereto. Subject to the provisions of Section 5.3 and upon providing the Company with written notice, such Oxford affiliate and any subsequent Holder may transfer
all or part of this Warrant or the Shares issued upon exercise of this Warrant (or the securities issued upon conversion of the Shares, if any) to any transferee, provided, however, in connection with any such transfer, such Oxford affiliate or any
subsequent Holder will give the Company notice of the portion of the Warrant and/or Shares (and/or securities issued upon conversion of the Shares, if any) being transferred with the name, address and taxpayer identification number of the transferee
and Holder will surrender this Warrant to the Company for reissuance to the transferee(s) (and Holder if applicable). Notwithstanding any contrary provision herein, at all times prior to the IPO, Holder may not, without the Company’s prior
written consent, transfer this Warrant or any portion hereof, or any Shares issued upon any exercise hereof, or any shares or other securities issued upon any conversion of any Shares issued upon any exercise hereof, to any person or entity who
directly competes with the Company, except in connection with an Acquisition of the Company by such a direct competitor. 

  
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 5.5 Notices. All notices and other communications from the Company to the Holder, or
vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or Holder, as the case may (or on the first
Business Day after transmission by facsimile) be, in writing by the Company or such holder from time to time. All notices to Holder shall be addressed as follows until the Company receives notice of a change of address in connection with a transfer
or otherwise: 
 Oxford Finance LLC 
 Attn: Ms. Maryam Zafar, Senior Counsel 
 133 North Fairfax Street 

Alexandria, VA 22314 
 Facsimile: 703-519-6015 
 Email address: mzafar@oxfordfinance.com 

Notice to the Company shall be addressed as follows until Holder receives notice of a change in address: 

Tetraphase Pharmaceuticals, Inc. 
 Attn: Chief Operating Officer 
 480 Arsenal Street, Suite 110 

Watertown, MA 02462 
 Telephone: 617-715-3551 
 Facsimile: 617-715-3557 

5.6 Amendment and Waiver. This Warrant and any term hereof may be amended, waived, discharged or terminated only by an instrument
in writing signed by the Company and the Holder. 
 5.7 Attorney’s Fees. In the event of any dispute between the
parties concerning the terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration Date, the fair market value of one Share (or
other security issuable upon the exercise hereof) as determined in accordance with Article 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be converted
pursuant to Article 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised or converted, and the Company shall promptly deliver a certificate representing the Shares (or such other securities)
issued upon such conversion to Holder. 
 5.9 Counterparts. This Warrant may be executed in counterparts, all of which
together shall constitute one and the same agreement. 

  
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 5.10 Governing Law. This Warrant shall be governed by and construed in accordance
with the laws of the State of Delaware, without giving effect to its principles regarding conflicts of law. 
 5.11 Business
Days. “Business Day” is any day that is not a Saturday, Sunday or a day on which Oxford is closed. 

  
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	“COMPANY”
	
	TETRAPHASE PHARMACEUTICALS, INC.
		
	By:	 	 /s/ David Lubner

		
	Name:	 	 David Lubner

		 	(Print)
	Title:	 	Senior Vice President and Chief Financial Officer
	
	“HOLDER”
	
	OXFORD FINANCE LLC
		
	By:	 	 /s/ Timothy A. Lex

		
	Name:	 	 Timothy A. Lex

		 	(Print)
	Title:	 	Chief Operating Officer

  
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 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. Holder elects to purchase
                 shares of the Common/Series              Preferred [strike one] Stock of
             pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full. 

[or] 
 1.
Holder elects to convert the attached Warrant into Shares/cash [strike one] in the manner specified in the Warrant. This conversion is exercised for              of the Shares covered by
the Warrant. 
 [Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing the shares in the name specified below: 

 

					
		 	  
	 	
		 	 Holders Name
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	 (Address)
	 	

 3. By its execution below and for the benefit of the Company, Holder hereby restates each of the
representations and warranties in Article 4 of the Warrant as the date hereof. 
  

			
	HOLDER:
	
	  

		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

		
	(Date):	 	  

  
 Appendix 1 - 1

 APPENDIX 2 
 FORM OF ASSIGNMENT 
 For value received, Oxford Finance LLC hereby sells, assigns
and transfers unto 
  

							
		 	Name: [OXFORD TRANSFEREE]	 	
		 	Address:	 	  
	 	
		 		 	  
	 	
		 	Tax ID:	 	  
	 	

 that certain Warrant to Purchase Stock issued by [BORROWER] (the “Company”), on [ISSUE DATE] (the
“Warrant”) together with all rights, title and interest therein. 
  

			
	OXFORD FINANCE LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	Date:	 	  

 By its execution below, and for the benefit of the Company, [OXFORD TRANSFEREE] hereby makes each of the representations
and warranties set forth in Article 4 of the Warrant as of the date hereof and agrees to be bound by all provisions of the Warrant as the Holder thereof. 

 

			
	[OXFORD TRANSFEREE]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Appendix 2 - 1

 SCHEDULE 1 
 Company Capitalization Table 
 Tetraphase Pharmaceuticals, Inc. 

 

									
	 
Type of Security
	  	Number of Authorized
Shares	 	  	Number of Outstanding
Shares	 
	 Common Stock
	  	 	317,789,510	  	  	 	9,322,696	  
	 Series A-1 Convertible Participating Preferred Stock
	  	 	10,072,000	  	  	 	10,040,000	  
	 Series A-2 Convertible Participating Preferred Stock
	  	 	13,095,646	  	  	 	13,095,646	  
	 Series B Convertible Participating Preferred Stock
	  	 	57,471,225	  	  	 	57,471,225	  
	 Series C Convertible Participating Preferred Stock
	  	 	178,405,286	  	  	 	175,418,122	  

  
 Schedule 1 - 1EX-4.2

 Exhibit 4.2 
 BERKSHIRE HATHAWAY INC. 
 OFFICERS’ CERTIFICATE 

ESTABLISHING TERMS OF NOTES 
 February 11, 2013 
 The undersigned, Marc D. Hamburg and Robert P.
Reeson, do hereby certify pursuant to the authority granted in the resolutions adopted by the Board of Directors of Berkshire Hathaway Inc. (the “Corporation”) on January 29, 2010 and February 7, 2013, and pursuant to
Section 3.01 of that certain Indenture, dated as of February 1, 2010, among the Corporation, Berkshire Hathaway Finance Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Indenture”) that:

 1. They are (i) the Senior Vice President and Chief Financial Officer and (ii) the Assistant Secretary,
respectively, of the Corporation. 
 2. As such officers, they are authorized to execute and deliver this Officers’
Certificate on behalf of the Corporation. 
 3. Attached hereto as Annex A is a true and correct copy of a specimen note
representing the Corporation’s 0.800% Senior Notes due 2016 (the “2016 Senior Notes”); attached hereto as Annex B is a true and correct copy of a specimen note representing the Corporation’s 1.550% Senior Notes due 2018
(the “2018 Senior Notes”); attached hereto as Annex C is a true and correct copy of a specimen note representing the Corporation’s 3.000% Senior Notes due 2023 (the “2023 Senior Notes”); and attached hereto as
Annex D is a true and correct copy of a specimen note representing the Corporation’s 4.500% Senior Notes due 2043 (the “2043 Senior Notes”). 
 4. The 2016 Senior Notes, the 2018 Senior Notes, the 2023 Senior Notes, and the 2043 Senior Notes are each a separate series of Securities under the Indenture and are referred to herein collectively as
the “Notes.” The forms of Notes attached hereto as Annex A, Annex B, Annex C, and Annex D are incorporated herein by reference. 
 5. The title of the 2016 Senior Notes shall be the “0.800% Senior Notes due 2016”; the title of the 2018 Senior Notes shall be the “1.550% Senior Notes due 2018”; the title of the 2023
Senior Notes shall be the “3.000% Senior Notes due 2023”; and the title of the 2043 Senior Notes shall be the “4.500% Senior Notes due 2043.” Each series of Notes will be the Corporation’s unsecured senior obligations, will
rank pari passu in right of payment with all of the Corporation’s unsubordinated, unsecured indebtedness and will be senior in right of payment to all of the Corporation’s subordinated indebtedness. 

6. The 2016 Senior Notes shall be issued at the initial offering price of 99.991% of the principal amount; the 2018 Senior Notes shall be
issued at the initial offering price of 99.861% of the principal amount; the 2023 Senior Notes shall be issued at the initial offering price of 99.154% of the principal amount; and the 2043 Senior Notes shall be issued at the initial offering price
of 98.686% of the principal amount. 

  
 - 1 -

 7. The Corporation will initially issue $300,000,000 aggregate principal amount of 2016
Senior Notes; $800,000,000 aggregate principal amount of 2018 Senior Notes; $500,000,000 aggregate principal amount of 2023 Senior Notes; and $1,000,000,000 aggregate principal amount of 2043 Senior Notes. The Corporation may issue additional 2016
Senior Notes; 2018 Senior Notes; 2023 Senior Notes; and/or 2043 Senior Notes from time to time after the date hereof, and such Notes will be treated as part of the respective series of Notes for all purposes under the Indenture. 

8. The principal amount of the 2016 Senior Notes will mature on February 11, 2016; the principal amount of the 2018 Senior Notes
will mature on February 9, 2018; the principal amount of the 2023 Senior Notes will mature on February 11, 2023; and the principal amount of the 2043 Senior Notes will mature on February 11, 2043. 

9. The Notes are issuable in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

10. Interest on the Notes will be computed on the basis of a 360 day year of twelve 30-day months. 

11. The 2016 Senior Notes will bear interest from February 11, 2013 at the rate of 0.800% per annum, payable on each
February 11 and August 11, commencing August 11, 2013, to the holders of record of the 2016 Senior Notes at the close of business on the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately
preceding such February 11 or August 11. 
 12. The 2018 Senior Notes will bear interest from February 11, 2013
at the rate of 1.550% per annum, payable on each February 9 and August 9, commencing August 9, 2013, to the holders of record of the 2018 Senior Notes at the close of business on the February 1 or August 1 (whether or
not a Business Day), as the case may be, immediately preceding such February 9 or August 9. 
 13. The 2023 Senior
Notes will bear interest from February 11, 2013 at the rate of 3.000% per annum, payable on each February 11 and August 11, commencing August 11, 2013, to the holders of record of the 2023 Senior Notes at the close of
business on the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding such February 11 or August 11. 
 14. The 2043 Senior Notes will bear interest from February 11, 2013 at the rate of 4.500% per annum, payable on each February 11 and August 11, commencing August 11, 2013, to the
holders of record of the 2043 Senior Notes at the close of business on the February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding such February 11 or August 11. 

15. Payment of the principal of and interest on the Notes will be made at the office or agency of the Corporation maintained for that
purpose in the City of New York, New York (or, if the Corporation does not maintain such office or agency, at the corporate trust office of the Trustee in the City of New York or if the Trustee does not maintain an office in the City of New York, at
the office of a Paying Agent in the City of New York), in such coin or currency of the 

  
 - 2 -

 
United States of America as at the time of payment is legal tender for payment of public and private debt; provided, however, that at the option of the Corporation payments of principal or
interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, subject to surrender at such office or agency, in the case of payments of principal. 

16. The Notes will initially be issued in the form of one or more Global Securities. The Depository Trust Company shall serve as the
Depositary for such Global Securities. 
 17. The Notes shall be defeasible in whole or in part pursuant to the terms of the
Indenture, including, without limitation, Section 13.02 and Section 13.03 of the Indenture. 
 18. The 2016 Senior
Notes are not redeemable. 
 19. The 2018 Senior Notes, the 2023 Senior Notes, and the 2043 Senior Notes may be redeemed in
whole or in part pursuant to the terms set forth in the respective forms of such Notes incorporated herein by reference. Notwithstanding Section 11.04 of the Indenture, notice of such redemption need not set forth the Redemption Price, but only
the manner of calculation thereof. The Corporation shall give the Trustee notice of such Redemption Price promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation. 

All capitalized terms used herein and not otherwise defined shall have the meanings given such terms in the Indenture. 

[Remainder of page intentionally left blank.] 

  
 - 3 -

 IN WITNESS WHEREOF, this Officers’ Certificate has been executed by the undersigned as
of date first written above. 
  

	
	 /s/ Marc D. Hamburg

	Name: Marc D. Hamburg
	Title: Senior Vice President and Chief Financial Officer
	
	 /s/ Robert P. Reeson

	Name: Robert P. Reeson
	Title: Assistant Secretary

 [Officers’ Certificate Establishing Terms of Notes] 

 ANNEX A 

SPECIMEN OF 2016 SENIOR NOTES 

 0.800% Senior Notes due 2016 

CERTIFICATE OF AUTHENTICATION 

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

 

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

		 	Name:
		 	Title:

 Dated: February 11, 2013 

 THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS DEBT SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO BERKSHIRE HATHAWAY INC. OR ITS AGENT FOR REGISTRATION OR 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. 

 BERKSHIRE HATHAWAY INC. 

************************** 
 0.800% Senior Notes due 2016 
 CUSIP: 084670 BG2 

 ISIN: US084670BG20 

 

					
	 No.
	 		 	$            
		 	 (as revised by the Schedule of Increases and

Decreases in Global Security attached hereto)

 BERKSHIRE HATHAWAY INC., a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., the registered Holder hereof, the principal
sum of             Dollars ($            ) (as revised by the Schedule of Increases and Decreases in Global Security
attached hereto) on February 11, 2016, and to pay interest thereon from and including February 11, 2013 or from and including the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for,
semi-annually on February 11 and August 11 in each year, commencing August 11, 2013 (each an “Interest Payment Date”), at the rate of 0.800% per annum (as adjusted, if at all, pursuant to such Indenture, the
“Interest Rate”), until the principal hereof is paid or made available for payment; provided that any principal, and any such installment of interest, which is overdue shall bear interest at the Interest Rate (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (whether
or not a Business Day) for such interest. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Debt
Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Debt Securities of
this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in such Indenture. 
 Payment of the
principal of and interest on this Debt Security will be made at the office or agency of the Company maintained for that purpose in the City of New York, New York (or, if the Company does not maintain such office or agency, at the corporate trust
office of the Trustee in the City of New York or if the Trustee does not maintain an office in the City of New York, at the office of a Paying Agent in the City of New York), in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private 

 
debt; provided, however, that at the option of the Company payments of principal or interest may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register, subject to surrender at such office or agency, in the case of payments of principal. 

“Regular Record Date” means, with respect to any Interest Payment Date, the February 1 or August 1 (whether or not a
Business Day), as the case may be, immediately preceding such Interest Payment Date. 
 Reference is hereby made to the further
provisions of this Debt Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Debt Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	Dated: February 11, 2013	 	BERKSHIRE HATHAWAY INC.
			
		 	    By:	 	  

		 		 	Name: Marc D. Hamburg
		 		 	Title: Senior Vice President and Chief Financial Officer

  

	
	Attest:
	
	  

	 Name: Robert P. Reeson

	 Title: Assistant Secretary

 [REVERSE OF DEBT SECURITY] 

This Debt Security is one of a duly authorized series of notes of the Company (herein called the “Debt Securities”), issued and
to be issued in one or more series under an Indenture, dated as of February 1, 2010 (herein called the “Base Indenture”, and as supplemented by the Officers’ Certificate dated February 11, 2013, together with the Base
Indenture, called the “Indenture”), among the Company, as issuer, Berkshire Hathaway Finance Corporation, and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), and reference is hereby made to the Indenture 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. 
 This Debt
Security does not have the benefit of any sinking fund obligation. 
 This Debt Security is not redeemable prior to Stated
Maturity. 
 The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Debt Security or of
certain restrictive covenants and Events of Default with respect to this Debt Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to the Debt Securities of this series shall occur and be continuing, the principal of the Debt Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of not less than 50% in principal amount of the Debt Securities at the time Outstanding of each series to be affected (voting together as a single class). The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Debt Security shall be conclusive and binding upon such Holder and upon all future Holders of this Debt Security and of any Debt Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Debt Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Debt Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of
a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Debt Securities of this series, the Holders of at least 25% in
principal amount of the Debt Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security
reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Debt Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Debt Security for the enforcement of any payment of principal
hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

 No reference herein to the Indenture and no provision of this Debt Security or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any interest on this Debt Security at the times, 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 Debt Security is
registrable in the Security Register, upon surrender of this Debt Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Debt Security are payable, duly
endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon one or more
new Debt Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Indenture and this Debt Security are governed by the laws of the State of New York, without regard to conflicts of laws provisions
thereof. 
 The Debt Securities of this series are issuable in registered form without coupons in minimum denominations of
$2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Debt Securities of this series are exchangeable for a like aggregate principal amount of Debt Securities of
this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 
 No
service charge shall be made to a Holder 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. 

Prior to due presentment of this Debt Security for registration of transfer, the Company, the Trustee and any agent thereof may treat the
Person in whose name this Debt Security is registered as the owner hereof for all purposes, whether or not this Debt Security be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 

Except in the limited circumstances described in Section 3.05 of the Indenture, the Debt Securities of this series shall be issued
in the form of one or more Global Securities and The Depository Trust Company shall be the Depositary for such Global Security or Securities. 
 All terms used in this Debt Security which are not defined herein and are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Debt Security have been made: 

 

									
	 Date of exchange
	 	 Amount of decrease in
principal amount
of
 this Debt Security
	 	 Amount of increase in

principal amount of this
 Debt Security
	 	 Principal amount of this

Debt Security following
 such decrease or increase
	 	 Signature of authorized
signatory of Trustee
or
 Security Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt Security to: 
  

					
		 	  
	 	
			
		 	  
	 	
		 	 (Insert assignee’s social security or tax identification number)
	 	
			
		 	  
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	 (Insert address and zip code of assignee)
	 	

 and irrevocably appoints             as agent to transfer
this Debt Security on the Security Register. The agent may substitute another to act for him or her. 
  

					
		 	Dated:	 	Signature:        

 Signature Guarantee: 
 (Sign exactly as your name appears on the other side of this Debt Security) 
 Signatures must be
guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 ANNEX B 

SPECIMEN OF 2018 SENIOR NOTES 

 1.550% Senior Notes due 2018 

CERTIFICATE OF AUTHENTICATION 

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

 

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

		 	Name:
		 	Title:

 Dated: February 11, 2013 

 THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS DEBT SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO BERKSHIRE HATHAWAY INC. OR ITS AGENT FOR REGISTRATION OR 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. 

 BERKSHIRE HATHAWAY INC. 

************************** 
 1.550% Senior Notes due 2018 
 CUSIP: 084670 BH0

 ISIN: US084670BH03 

 

					
	 No.
	 		 	$            
		 	 (as revised by the Schedule of Increases and

Decreases in Global Security attached hereto)

 BERKSHIRE HATHAWAY INC., a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., the registered Holder hereof, the principal
sum of             Dollars ($            ) (as revised by the Schedule of Increases and Decreases in Global Security
attached hereto) on February 9, 2018, and to pay interest thereon from and including February 11, 2013 or from and including the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for,
semi-annually on February 9 and August 9 in each year, commencing August 9, 2013 (each an “Interest Payment Date”), at the rate of 1.550% per annum (as adjusted, if at all, pursuant to such Indenture, the “Interest
Rate”), until the principal hereof is paid or made available for payment; provided that any principal, and any such installment of interest, which is overdue shall bear interest at the Interest Rate (to the extent that the payment of
such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (whether or not a
Business Day) for such interest. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Debt Security (or one
or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Debt Securities of this series not
less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of this series may be listed, and upon such
notice as may be required by such exchange, all as more fully provided in such Indenture. 
 Payment of the principal of and
interest on this Debt Security will be made at the office or agency of the Company maintained for that purpose in the City of New York, New York (or, if the Company does not maintain such office or agency, at the corporate trust office of the
Trustee in the City of New York or if the Trustee does not maintain an office in the City of New York, at the office of a Paying Agent in the City of New York), in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private 

 
debt; provided, however, that at the option of the Company payments of principal or interest may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register, subject to surrender at such office or agency, in the case of payments of principal. 
 This
Debt Security may be redeemed, in whole or in part, at the option of the Company, at any time prior to its maturity at a redemption price equal to the greater of (A) 100% of the principal amount to be redeemed or (B) as determined by the
Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the portion of this Debt Security being redeemed, not including any portion of such payments of interest accrued as of the date fixed for
redemption, discounted to the date fixed for redemption on a semi-annual basis assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate plus twelve and a half (12.5) basis points, plus accrued interest on the
portion of this Debt Security being redeemed to the date fixed for redemption. 
 In the event of redemption of this Debt
Security in part only, a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Quotation Agent will select a Comparable Treasury Issue, and the Reference Dealers will provide the Company and the Trustee with the
Reference Dealer Quotations. The Company will calculate the Comparable Treasury Price. 
 “Adjusted Treasury Rate”
means, for any date fixed for redemption, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue assuming a price for the Comparable Treasury Issue equal to the Comparable Treasury Price for the date
fixed for redemption, in each case expressed as a percentage of its principal amount. 
 “Comparable Treasury Issue”
means, for any date fixed for redemption, the U.S. Treasury security selected by the Quotation Agent which has a maturity comparable to the remaining maturity of this Debt Security as of the date fixed for redemption, which would be used in
accordance with customary financial practice to price new issues of corporate debt securities with a maturity comparable to the remaining maturity of this Debt Security as of the date fixed for redemption. 

“Comparable Treasury Price” means, for any Comparable Treasury Issue, the price after eliminating the highest and the lowest
Reference Dealer Quotations and then calculating the average of the remaining Reference Dealer Quotations; provided, however, that if the Company obtains fewer than three Reference Dealer Quotations, the Company will, when calculating the Comparable
Treasury Price, calculate the average of all the Reference Dealer Quotations and not eliminate any such quotations. 

“Quotation Agent” means Goldman Sachs & Co. or its successor. 

“Reference Dealers” means Goldman Sachs & Co. and a primary U.S. Government securities dealer in New York City
selected by Wells Fargo Securities, LLC or their respective successors; provided, however, that if either of the foregoing ceases to be a primary U.S. Government securities dealer in New York City, the Company will appoint another primary U.S.
Government securities dealer in New York City as a substitute. 
 “Reference Dealer Quotations” means, for any
Comparable Treasury Issue, the average of the bid and asked prices for such Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing by the Reference Dealers to the Company and the Trustee as of
5:00 p.m. (New York City Time) on the third business day before the relevant date fixed for redemption. 

 “Regular Record Date” means, with respect to any Interest Payment Date, the
February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. 
 The Company may elect to effect a redemption in accordance with these provisions at any time and on any date. However, the Company must give the Holders of this Debt Security notice, as provided in the
Indenture, of the redemption not less than 30 days or more than 60 days before the date fixed for redemption. If the Company elects to redeem fewer than the full principal amount of this Debt Security, the Trustee will select the amount to be
redeemed on a pro rata basis, by lot or by such other method of random selection, if any, that the Trustee deems fair and appropriate. 
 Reference is hereby made to the further provisions of this Debt Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this
place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by
manual signature, this Debt Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

							
	Dated: February 11, 2013	 		 	BERKSHIRE HATHAWAY INC.
				
		 		 	    By:	 	  

		 		 		 	Name: Marc D. Hamburg
		 		 		 	Title: Senior Vice President and Chief Financial Officer

  

	
	Attest:
	
	  

	 Name: Robert P. Reeson

	 Title: Assistant Secretary

 [REVERSE OF DEBT SECURITY] 

This Debt Security is one of a duly authorized series of notes of the Company (herein called the “Debt Securities”), issued and
to be issued in one or more series under an Indenture, dated as of February 1, 2010 (herein called the “Base Indenture”, and as supplemented by the Officers’ Certificate dated February 11, 2013, together with the Base
Indenture, called the “Indenture”), among the Company, as issuer, Berkshire Hathaway Finance Corporation, and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), and reference is hereby made to the Indenture 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. 
 This Debt
Security does not have the benefit of any sinking fund obligation. 
 In the event of redemption of this Debt Security in part
only, a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Debt Security or of certain restrictive
covenants and Events of Default with respect to this Debt Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to the Debt Securities of this series shall occur and be continuing, the principal of the Debt Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of not less than 50% in principal amount of the Debt Securities at the time Outstanding of each series to be affected (voting together as a single class). The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Debt Security shall be conclusive and binding upon such Holder and upon all future Holders of this Debt Security and of any Debt Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Debt Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Debt Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of
a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Debt Securities of this series, the Holders of at least 25% in
principal amount of the Debt Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security
reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Debt Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Debt Security for the enforcement of

 
any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any interest on this Debt Security at the times, 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 Debt Security is registrable in the Security Register, upon surrender of this Debt Security for
registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Debt Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon one or more new Debt Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The
Indenture and this Debt Security are governed by the laws of the State of New York, without regard to conflicts of laws provisions thereof. 
 The Debt Securities of this series are issuable in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Debt Securities of this series are exchangeable for a like aggregate principal amount of Debt Securities of this series and of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same. 
 No service charge shall be made to a Holder 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. 
 Prior to due presentment of this Debt Security for registration of transfer, the Company, the Trustee and any agent thereof may treat the Person in whose name this Debt Security is registered as the owner
hereof for all purposes, whether or not this Debt Security be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 
 Except in the limited circumstances described in Section 3.05 of the Indenture, the Debt Securities of this series shall be issued in the form of one or more Global Securities and The Depository
Trust Company shall be the Depositary for such Global Security or Securities. 
 All terms used in this Debt Security which are
not defined herein and are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Debt Security have been made: 

 

									
	 Date of exchange
	 	 Amount of decrease in
principal amount
of
 this Debt Security
	 	 Amount of increase in

principal amount of this
 Debt Security
	 	 Principal amount of this

Debt Security following
 such decrease or increase
	 	 Signature of authorized
signatory of Trustee
or
 Security Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt Security to: 
  

					
		 	  
	 	
			
		 	  
	 	
		 	(Insert assignee’s social security or tax identification number)	 	
			
		 	  
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	(Insert address and zip code of assignee)	 	

 and irrevocably appoints         as agent to transfer this Debt Security on the
Security Register. The agent may substitute another to act for him or her. 
  

					
		 	Dated:	 	Signature:        

 Signature Guarantee: 
 (Sign exactly as your name appears on the other side of this Debt Security) 
 Signatures must be
guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 ANNEX C 

SPECIMEN OF 2023 SENIOR NOTES 

 3.000% Senior Notes due 2023 

CERTIFICATE OF AUTHENTICATION 

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

 

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

		
	     By:
	 	  

		 	Name:
		 	Title:

 Dated: February 11, 2013 

 THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS DEBT SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO BERKSHIRE HATHAWAY INC. OR ITS AGENT FOR REGISTRATION OR 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. 

 BERKSHIRE HATHAWAY INC. 

************************** 
 3.000% Senior Notes due 2023 
 CUSIP: 084670 BJ6

 ISIN: US084670BJ68 

 

					
	 No.
	 		 	$            
		 	 (as revised by the Schedule of Increases and

Decreases in Global Security attached hereto)

 BERKSHIRE HATHAWAY INC., a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., the registered Holder hereof, the principal
sum of             Dollars ($            ) (as revised by the Schedule of Increases and Decreases in Global Security
attached hereto) on February 11, 2023, and to pay interest thereon from and including February 11, 2013 or from and including the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for,
semi-annually on February 11 and August 11 in each year, commencing August 11, 2013 (each an “Interest Payment Date”), at the rate of 3.000% per annum (as adjusted, if at all, pursuant to such Indenture, the
“Interest Rate”), until the principal hereof is paid or made available for payment; provided that any principal, and any such installment of interest, which is overdue shall bear interest at the Interest Rate (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (whether
or not a Business Day) for such interest. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Debt
Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Debt Securities of
this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in such Indenture. 
 Payment of the
principal of and interest on this Debt Security will be made at the office or agency of the Company maintained for that purpose in the City of New York, New York (or, if the Company does not maintain such office or agency, at the corporate trust
office of the Trustee in the City of New York or if the Trustee does not maintain an office in the City of New York, at the office of a Paying Agent in the City of New York), in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private 

 
debt; provided, however, that at the option of the Company payments of principal or interest may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register, subject to surrender at such office or agency, in the case of payments of principal. 
 This
Debt Security may be redeemed, in whole or in part, at the option of the Company, at any time prior to its maturity at a redemption price equal to the greater of (A) 100% of the principal amount to be redeemed or (B) as determined by the
Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the portion of this Debt Security being redeemed, not including any portion of such payments of interest accrued as of the date fixed for
redemption, discounted to the date fixed for redemption on a semi-annual basis assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate plus fifteen (15) basis points, plus accrued interest on the portion of
this Debt Security being redeemed to the date fixed for redemption. 
 In the event of redemption of this Debt Security in part
only, a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Quotation Agent will select a Comparable Treasury Issue, and the Reference Dealers will provide the Company and the Trustee with the
Reference Dealer Quotations. The Company will calculate the Comparable Treasury Price. 
 “Adjusted Treasury Rate”
means, for any date fixed for redemption, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue assuming a price for the Comparable Treasury Issue equal to the Comparable Treasury Price for the date
fixed for redemption, in each case expressed as a percentage of its principal amount. 
 “Comparable Treasury Issue”
means, for any date fixed for redemption, the U.S. Treasury security selected by the Quotation Agent which has a maturity comparable to the remaining maturity of this Debt Security as of the date fixed for redemption, which would be used in
accordance with customary financial practice to price new issues of corporate debt securities with a maturity comparable to the remaining maturity of this Debt Security as of the date fixed for redemption. 

“Comparable Treasury Price” means, for any Comparable Treasury Issue, the price after eliminating the highest and the lowest
Reference Dealer Quotations and then calculating the average of the remaining Reference Dealer Quotations; provided, however, that if the Company obtains fewer than three Reference Dealer Quotations, the Company will, when calculating the Comparable
Treasury Price, calculate the average of all the Reference Dealer Quotations and not eliminate any such quotations. 

“Quotation Agent” means Goldman Sachs & Co. or its successor. 

“Reference Dealers” means Goldman Sachs & Co. and a primary U.S. Government securities dealer in New York City
selected by Wells Fargo Securities, LLC or their respective successors; provided, however, that if either of the foregoing ceases to be a primary U.S. Government securities dealer in New York City, the Company will appoint another primary U.S.
Government securities dealer in New York City as a substitute. 
 “Reference Dealer Quotations” means, for any
Comparable Treasury Issue, the average of the bid and asked prices for such Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing by the Reference Dealers to the Company and the Trustee as of
5:00 p.m. (New York City Time) on the third business day before the relevant date fixed for redemption. 

 “Regular Record Date” means, with respect to any Interest Payment Date, the
February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. 
 The Company may elect to effect a redemption in accordance with these provisions at any time and on any date. However, the Company must give the Holders of this Debt Security notice, as provided in the
Indenture, of the redemption not less than 30 days or more than 60 days before the date fixed for redemption. If the Company elects to redeem fewer than the full principal amount of this Debt Security, the Trustee will select the amount to be
redeemed on a pro rata basis, by lot or by such other method of random selection, if any, that the Trustee deems fair and appropriate. 
 Reference is hereby made to the further provisions of this Debt Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this
place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by
manual signature, this Debt Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	Dated: February 11, 2013	 	BERKSHIRE HATHAWAY INC.
			
		 	    By:	 	  

		 		 	Name: Marc D. Hamburg
		 		 	Title: Senior Vice President and Chief Financial Officer

  

	
	Attest:
	
	  

	 Name: Robert P. Reeson

	 Title: Assistant Secretary

 [REVERSE OF DEBT SECURITY] 

This Debt Security is one of a duly authorized series of notes of the Company (herein called the “Debt Securities”), issued and
to be issued in one or more series under an Indenture, dated as of February 1, 2010 (herein called the “Base Indenture”, and as supplemented by the Officers’ Certificate dated February 11, 2013, together with the Base
Indenture, called the “Indenture”), among the Company, as issuer, Berkshire Hathaway Finance Corporation, and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), and reference is hereby made to the Indenture 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. 
 This Debt
Security does not have the benefit of any sinking fund obligation. 
 In the event of redemption of this Debt Security in part
only, a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Debt Security or of certain restrictive
covenants and Events of Default with respect to this Debt Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to the Debt Securities of this series shall occur and be continuing, the principal of the Debt Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of not less than 50% in principal amount of the Debt Securities at the time Outstanding of each series to be affected (voting together as a single class). The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Debt Security shall be conclusive and binding upon such Holder and upon all future Holders of this Debt Security and of any Debt Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Debt Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Debt Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of
a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Debt Securities of this series, the Holders of at least 25% in
principal amount of the Debt Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security
reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Debt Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Debt Security for the enforcement of

 
any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any interest on this Debt Security at the times, 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 Debt Security is registrable in the Security Register, upon surrender of this Debt Security for
registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Debt Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon one or more new Debt Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The
Indenture and this Debt Security are governed by the laws of the State of New York, without regard to conflicts of laws provisions thereof. 
 The Debt Securities of this series are issuable in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Debt Securities of this series are exchangeable for a like aggregate principal amount of Debt Securities of this series and of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same. 
 No service charge shall be made to a Holder 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. 
 Prior to due presentment of this Debt Security for registration of transfer, the Company, the Trustee and any agent thereof may treat the Person in whose name this Debt Security is registered as the owner
hereof for all purposes, whether or not this Debt Security be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 
 Except in the limited circumstances described in Section 3.05 of the Indenture, the Debt Securities of this series shall be issued in the form of one or more Global Securities and The Depository
Trust Company shall be the Depositary for such Global Security or Securities. 
 All terms used in this Debt Security which are
not defined herein and are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Debt Security have been made: 

 

									
	 Date of exchange
	 	 Amount of decrease in
principal amount
of
 this Debt Security
	 	 Amount of increase in

principal amount of this
 Debt Security
	 	 Principal amount of this

Debt Security following
 such decrease or increase
	 	 Signature of authorized
signatory of Trustee
or
 Security Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt Security to: 
  

					
		 	  
	 	
			
		 	  
	 	
		 	(Insert assignee’s social security or tax identification number)	 	
			
		 	  
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	(Insert address and zip code of assignee)	 	

 and irrevocably appoints             as agent to transfer
this Debt Security on the Security Register. The agent may substitute another to act for him or her. 
  

					
		 	Dated:	 	Signature:        

 Signature Guarantee: 
 (Sign exactly as your name appears on the other side of this Debt Security) 
 Signatures must be
guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 ANNEX D 

SPECIMEN OF 2043 SENIOR NOTES

 4.500% Senior Notes due 2043 

CERTIFICATE OF AUTHENTICATION 

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

 

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

		
	     By:
	 	  

		 	Name:
		 	Title:

 Dated: February 11, 2013 

 THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS DEBT SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY
PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO BERKSHIRE HATHAWAY INC. OR ITS AGENT FOR REGISTRATION OR 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. 

 BERKSHIRE HATHAWAY INC. 

************************** 
 4.500% Senior Notes due 2043 
 CUSIP: 084670 BK3

 ISIN: US084670BK32 

 

					
	 No.
	 		 	$            
		 	 (as revised by the Schedule of Increases and

Decreases in Global Security attached hereto)

 BERKSHIRE HATHAWAY INC., a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO., the registered Holder hereof, the principal
sum of             Dollars ($            ) (as revised by the Schedule of Increases and Decreases in Global Security
attached hereto) on February 11, 2043, and to pay interest thereon from and including February 11, 2013 or from and including the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for,
semi-annually on February 11 and August 11 in each year, commencing August 11, 2013 (each an “Interest Payment Date”), at the rate of 4.500% per annum (as adjusted, if at all, pursuant to such Indenture, the
“Interest Rate”), until the principal hereof is paid or made available for payment; provided that any principal, and any such installment of interest, which is overdue shall bear interest at the Interest Rate (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Debt Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date (whether
or not a Business Day) for such interest. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Debt
Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Debt Securities of
this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Debt Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully provided in such Indenture. 
 Payment of the
principal of and interest on this Debt Security will be made at the office or agency of the Company maintained for that purpose in the City of New York, New York (or, if the Company does not maintain such office or agency, at the corporate trust
office of the Trustee in the City of New York or if the Trustee does not maintain an office in the City of New York, at the office of a Paying Agent in the City of New York), in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private 

 
debt; provided, however, that at the option of the Company payments of principal or interest may be made by check mailed to the address of the Person entitled thereto as such address shall
appear in the Security Register, subject to surrender at such office or agency, in the case of payments of principal. 
 This
Debt Security may be redeemed, in whole or in part, at the option of the Company, at any time prior to its maturity at a redemption price equal to the greater of (A) 100% of the principal amount to be redeemed or (B) as determined by the
Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the portion of this Debt Security being redeemed, not including any portion of such payments of interest accrued as of the date fixed for
redemption, discounted to the date fixed for redemption on a semi-annual basis assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate plus twenty (20) basis points, plus accrued interest on the portion of this
Debt Security being redeemed to the date fixed for redemption. 
 In the event of redemption of this Debt Security in part only,
a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Quotation Agent will select a Comparable Treasury Issue, and the Reference Dealers will provide the Company and the Trustee with the
Reference Dealer Quotations. The Company will calculate the Comparable Treasury Price. 
 “Adjusted Treasury Rate”
means, for any date fixed for redemption, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue assuming a price for the Comparable Treasury Issue equal to the Comparable Treasury Price for the date
fixed for redemption, in each case expressed as a percentage of its principal amount. 
 “Comparable Treasury Issue”
means, for any date fixed for redemption, the U.S. Treasury security selected by the Quotation Agent which has a maturity comparable to the remaining maturity of this Debt Security as of the date fixed for redemption, which would be used in
accordance with customary financial practice to price new issues of corporate debt securities with a maturity comparable to the remaining maturity of this Debt Security as of the date fixed for redemption. 

“Comparable Treasury Price” means, for any Comparable Treasury Issue, the price after eliminating the highest and the lowest
Reference Dealer Quotations and then calculating the average of the remaining Reference Dealer Quotations; provided, however, that if the Company obtains fewer than three Reference Dealer Quotations, the Company will, when calculating the Comparable
Treasury Price, calculate the average of all the Reference Dealer Quotations and not eliminate any such quotations. 

“Quotation Agent” means Goldman Sachs & Co. or its successor. 

“Reference Dealers” means Goldman Sachs & Co. and a primary U.S. Government securities dealer in New York City
selected by Wells Fargo Securities, LLC or their respective successors; provided, however, that if either of the foregoing ceases to be a primary U.S. Government securities dealer in New York City, the Company will appoint another primary U.S.
Government securities dealer in New York City as a substitute. 
 “Reference Dealer Quotations” means, for any
Comparable Treasury Issue, the average of the bid and asked prices for such Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing by the Reference Dealers to the Company and the Trustee as of
5:00 p.m. (New York City Time) on the third business day before the relevant date fixed for redemption. 

 “Regular Record Date” means, with respect to any Interest Payment Date, the
February 1 or August 1 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. 
 The Company may elect to effect a redemption in accordance with these provisions at any time and on any date. However, the Company must give the Holders of this Debt Security notice, as provided in the
Indenture, of the redemption not less than 30 days or more than 60 days before the date fixed for redemption. If the Company elects to redeem fewer than the full principal amount of this Debt Security, the Trustee will select the amount to be
redeemed on a pro rata basis, by lot or by such other method of random selection, if any, that the Trustee deems fair and appropriate. 
 Reference is hereby made to the further provisions of this Debt Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this
place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by
manual signature, this Debt Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

					
	Dated: February 11, 2013	 	BERKSHIRE HATHAWAY INC.
			
		 	    By:	 	  

		 		 	Name: Marc D. Hamburg
		 		 	Title: Senior Vice President and Chief Financial Officer

  

	
	Attest:
	
	  

	 Name: Robert P. Reeson

	 Title: Assistant Secretary

 [REVERSE OF DEBT SECURITY] 

This Debt Security is one of a duly authorized series of notes of the Company (herein called the “Debt Securities”), issued and
to be issued in one or more series under an Indenture, dated as of February 1, 2010 (herein called the “Base Indenture”, and as supplemented by the Officers’ Certificate dated February 11, 2013, together with the Base
Indenture, called the “Indenture”), among the Company, as issuer, Berkshire Hathaway Finance Corporation, and The Bank of New York Mellon Trust Company, N.A., as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), and reference is hereby made to the Indenture 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. 
 This Debt
Security does not have the benefit of any sinking fund obligation. 
 In the event of redemption of this Debt Security in part
only, a new Debt Security or Debt Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Indenture contains provisions for defeasance at any time of the entire Indebtedness of this Debt Security or of certain restrictive
covenants and Events of Default with respect to this Debt Security, in each case upon compliance with certain conditions set forth in the Indenture. 
 If an Event of Default with respect to the Debt Securities of this series shall occur and be continuing, the principal of the Debt Securities of this series may be declared due and payable in the manner
and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Debt Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of
the Holders of not less than 50% in principal amount of the Debt Securities at the time Outstanding of each series to be affected (voting together as a single class). The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Debt Securities of each series at the time Outstanding, on behalf of the Holders of all Debt Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Debt Security shall be conclusive and binding upon such Holder and upon all future Holders of this Debt Security and of any Debt Security
issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Debt Security. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Debt Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of
a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Debt Securities of this series, the Holders of at least 25% in
principal amount of the Debt Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee indemnity or security
reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Debt Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to
institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Debt Security for the enforcement of

 
any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Debt Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any interest on this Debt Security at the times, 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 Debt Security is registrable in the Security Register, upon surrender of this Debt Security for
registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Debt Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or the Holder’s attorney duly authorized in writing, and thereupon one or more new Debt Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The
Indenture and this Debt Security are governed by the laws of the State of New York, without regard to conflicts of laws provisions thereof. 
 The Debt Securities of this series are issuable in registered form without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Debt Securities of this series are exchangeable for a like aggregate principal amount of Debt Securities of this series and of like tenor of a different authorized denomination, as requested by the
Holder surrendering the same. 
 No service charge shall be made to a Holder 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. 
 Prior to due presentment of this Debt Security for registration of transfer, the Company, the Trustee and any agent thereof may treat the Person in whose name this Debt Security is registered as the owner
hereof for all purposes, whether or not this Debt Security be overdue, and none of the Company, the Trustee or any such agent shall be affected by notice to the contrary. 
 Except in the limited circumstances described in Section 3.05 of the Indenture, the Debt Securities of this series shall be issued in the form of one or more Global Securities and The Depository
Trust Company shall be the Depositary for such Global Security or Securities. 
 All terms used in this Debt Security which are
not defined herein and are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Debt Security have been made: 

 

									
	 Date of exchange
	 	 Amount of decrease in
principal amount
of
 this Debt Security
	 	 Amount of increase in

principal amount of this
 Debt Security
	 	 Principal amount of this

Debt Security following
 such decrease or increase
	 	 Signature of authorized
signatory of Trustee
or
 Security Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

 ASSIGNMENT 
 FOR VALUE RECEIVED, the undersigned assigns and transfers this Debt Security to: 
  

					
		 	  
	 	
			
		 	  
	 	
		 	(Insert assignee’s social security or tax identification number)	 	
			
		 	  
	 	
			
		 	  
	 	
			
		 	  
	 	
		 	(Insert address and zip code of assignee)	 	

 and irrevocably appoints             as agent to transfer
this Debt Security on the Security Register. The agent may substitute another to act for him or her. 
  

					
		 	 Dated:
	 	Signature:        

 Signature Guarantee: 
 (Sign exactly as your name appears on the other side of this Debt Security) 
 Signatures must be
guaranteed by an “eligible guarantor institution” meeting the requirements of the Security Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other
“signature guarantee program” as may be determined by the Security Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

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