Document:

Exhibit

EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of January 12, 2017 (the “Effective Date”), by and between VOXX INTERNATIONAL CORPORATION, a Delaware corporation (“Employer”), and THOMAS C. MALONE, an individual (the “Executive”).
RECITALS
WHEREAS, Employer desires to continue to employ Executive in the capacity of Senior Vice President of Employer pursuant to the terms set forth in this Agreement.
WHEREAS, Executive desires to continue to work for Employer with the duties and responsibilities pursuant to this Agreement.
Subject to the foregoing paragraph, the parties, intending to be legally bound, agree as follows:
 § 1.     Definitions.
For the purposes of this Agreement, the following terms have the meanings specified or referred to in this § 1.
“Affiliate” means a corporation or other entity controlling, controlled by or under common control with the Employer.
“Agreement” has the meaning set forth in the preamble.
 “Base Compensation” has the meaning set forth in § 3(a). 
“Benefits” has the meaning set forth in § 3(c).
“Board of Directors” means the Board of Directors of Voxx.
“Business” means the consumer electronics and accessories business as engaged in from time to time by the Employer and its Affiliates. 
“Cause” means: (i) the Executive’s continued willful failure to perform in a material respect (other than any such failure resulting from incapacity due to Disability) the explicitly stated duties to be performed by the Executive under this Agreement for a period of 10 days following delivery of written notice to the Executive from the Chief Executive Officer of Employer specifying in reasonable detail key elements of such failure; (ii) the appropriation (or attempted appropriation) of a material business opportunity of the Employer or its Affiliates, including attempting to secure or securing any personal profit in connection with any transaction entered into on behalf of the Employer or its Affiliate; (iii) the willful disclosure by the Executive of Confidential Information of the Employer or any of its Affiliates, other than in the ordinary course of business in connection with the performance of the Executive’s duties in accordance with this Agreement; (iv) the misappropriation (or attempted misappropriation) of any of the Employer’s or any of its Affiliates funds or property; or (v) the conviction of, or the entering of a guilty plea or plea of no contest with respect to, any offense that is a felony.
“Change in Control” shall be deemed to have occurred if: 

(i)     there shall occur (i) any consolidation or merger of Employer in which Employer is not the continuing or surviving corporation or pursuant to which the shares of Employer (the “Shares”) would be converted into cash, securities or other property, or (ii) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of assets accounting for more than 50% of the total assets of Employer or more than 50% of the total revenues of Employer, other than, in case of either (i) or (ii), a consolidation or merger with, or transfer to, a corporation or other entity 

of which, or of the parent entity of which, immediately following such consolidation, merger or transfer, more than 50% of the combined voting power of the then outstanding voting securities of such entity entitled to vote generally in the election of directors (or other governing body) is then beneficially owned (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934 (the “Exchange Act”)) by one or more of the individuals and entities who were such owners of Shares immediately prior to such consolidation, merger or transfer; 

(ii)     any “person” (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), other than an affiliate of Voxx, becomes the beneficial owner (within the meaning of Rule 13d-3 of the Exchange Act), directly or indirectly, of more than 50% of the combined voting power of the then outstanding voting securities of Employer; or

 “Confidential Information” means any and all information concerning the business and affairs of the Employer and its Affiliates including, but not limited to, customer lists, supplier lists, Inventions, Works, Proprietary Items, trade secrets, financial statements, business and financial projections and budgets, historical and projected sales, capital spending budgets and plans, business and marketing plans, strategic plans, product plans, the names and backgrounds of key personnel, personnel training and techniques and materials, however documented and all notes, analysis, compilations, studies, summaries and other material prepared by or for the Employer and its Affiliates containing or based, in whole or in part, on any information included in the foregoing.
“Disability” means a condition where for physical or mental reasons the Executive is unable to perform the Executive’s duties (as determined in accordance with the procedures set forth in the next sentence) and such condition in the reasonable judgment of the Employer, as substantiated by a medical doctor in the manner provided below, is expected to continue for such period of time as to require replacement of the Executive in order to carry out the business of the Employer. The determination that the physical or mental state of the Executive constitutes a Disability shall be made by a medical doctor who is not an employee of the Employer and who is reasonably selected by the Employer and reasonably acceptable to the Executive (unless the Employer and the Executive reach mutual agreement regarding the existence of a Disability) and such determination shall be binding on both parties. The Executive must submit to a reasonable number of examinations by the designated medical doctor and the Executive hereby authorizes the disclosure and release to the Employer of such determination and all supporting medical records. Any and all out of pocket expenses incurred by the Executive in connection with the determination by the designated medical doctor of a Disability shall be paid for or reimbursed by the Employer. Action on behalf of the Executive may be taken by the Executive’s guardian or duly authorized attorney-in-fact for purposes of submitting the Executive to medical examinations and approving authorization of disclosure. The Executive shall be deemed to have a Disability if the Executive for any reason is unable to perform the Executive’s duties for 120 consecutive days or for 180 days during any 12-month period.
“Effective Date” means the date first written above in this Agreement.
“Employer” means Voxx International Corporation.
“Employment Period” means the term of the Executive’s employment under this Agreement.
“Executive” has the meaning set forth in the preamble.
“Good Reason” means (a) a material reduction in the Executive’s Base Compensation opportunity below the amount specified in Section 3 of this Agreement (other than a reduction applicable to all other similarly situated participants), (b) Executive’s resignation within one hundred eighty (180) days following Executive’s written notice to the Employer of a change of Executive’s primary place of work from Hauppauge, New York; (c) a material reduction in the Executive’s level of responsibility, (d) an assignment of duties inconsistent with the Executive's position as a key executive, (e) a Change in Control, or (f) Executive’s 

voluntary retirement, any time after two (2) years after the Effective Date, with the intent to no longer seek full time employment (the “Voluntary Retirement”).
“Inventions” has the meaning set forth in § 6(d).
 “Market Jurisdictions” means Worldwide.
“Non-Compete Period” has the meaning set forth in § 7(b)(i). 
“Notice of Termination” has the meaning set forth in § 5(b).
“Person” means any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability company, joint venture, estate, trust, association, organization or governmental body.
“Proprietary Items” has the meaning set forth in § 6(b)(iv). 
 “Termination Date” has the meaning set forth in § 2(b). 
“Works” has the meaning set forth in § 6(e).

§ 2.    Employment Terms and Duties.
(a)Employment. The Employer hereby employs the Executive, and the Executive hereby accepts employment by the Employer, upon the terms and conditions set forth in this Agreement.
(b)Term. The Executive's employment under this Agreement shall continue from the Effective Date through February 28, 2020, unless terminated earlier pursuant to § 5 below (the  “Initial Term”).  Thereafter, this Agreement shall automatically renew for additional one (1) year terms (each, a “Renewal Term”) unless, not less than one hundred eighty (180) days prior to the expiration of the Intitial or Renewal Term, as the case may be, either party notifies the other in writing of their intention not to renew this Agreement.
(c)Rights and Powers; Duties. The Executive shall initially serve as the Senior Vice President of the Employer. The Executive shall provide executive, administrative, and managerial services to the Employer and shall have such duties and powers as are prescribed by the Chief Executive Officer of Employer. The Executive shall devote full time and attention, skill and energy exclusively to the business of the Employer, shall use best efforts to promote the success of the Employer’s and its Affiliate’s business and shall cooperate fully in the advancement of the best interests of the Employer and its Affiliates. Nothing in this § 2(c), however, shall prevent the Executive from engaging in additional activities in connection with personal investments and community affairs, from serving on boards of directors of businesses, as long as such activities are not in competition with the Employer or its Affiliates and/or do not create a conflict of interest and as long as such additional activities or services are not inconsistent with or intrusive on the Executive's duties under this Agreement.  
(d)Key Man Insurance. If requested by the Employer, the Executive shall cooperate with the Employer in establishing and maintaining “key man” insurance with respect to the Executive’s services, including submitting to any medical examinations reasonably necessary or advisable to establish. or maintain such insurance. The “key man” insurance to be established and maintained under this § 2(d) shall be paid for by the Employer.

§3.     Compensation.
(a)Base Compensation. The Executive shall be paid by the Employer and/or its Affiliates base salary at an annual rate of $225,000 commencing on the Effective Date (the “Base Compensation”), which will be payable according to the Employer's customary payroll practices.  

(b)Bonuses. Executive will receive a bonus as set forth on Exhibit “A” attached.

(c)Benefits. The Executive shall, during the Employment Period, be permitted to participate in such Code Section 401(k), pension; profit sharing, bonus, life insurance, disability insurance, hospitalization, dental, major medical and other employee benefit plans of the Employer that may be in effect from time to time, to the extent the Executive is eligible under the terms of those plans, but not less favorable to the Executive than currently in effect (collectively, the “Benefits”).

(d)Vacation. The Executive shall, during the Employment Period, be entitled to the number of weeks of paid vacation per full calendar year as set forth in the Employer’s then current vacation policy. Vacation time may not be carried over.  

(e)Life Insurance. The Executive shall, during the Employment Period, be provided a term life policy in the amount of $1,000,000 (or such reduced amount as may be required by the Company’s insurer due to age coverage constraints) paid for by the Employer with the beneficiary selected by the Executive.

(f)Automobile.  Executive will receive a lease allowance in the amount of $1,000 per month.  Upon termination pursuant to §§ 5(a)(ii)  5(a)(iv) or 5(a)(vi),  Employer shall continue payment of the lease allowance for remainder of the term of the Executive’s lease, the remainder of which shall not exceed thirty-six (36) months. If Executive dies during the term of this Agreement, the Employer’s lease allowance obligation shall immediately terminate and the Executive’s legal representative shall be entitled to either retain the leased vehicle or transfer the lease and deliver the leased vehicle over to the Employer, which shall then undertake the remaining payment obligations under the lease.

§4.     Expenses.  The Employer shall reimburse the Executive for all reasonable and necessary out-of-pocket expenses incurred by the Executive in connection with the performance of services under this Agreement, subject to any recordkeeping, reporting or similar requirements imposed pursuant to policies and procedures of the Employer in effect from time to time.

§5.     Termination.
(a)    Events of Termination. The Employment Period and the Executive’s rights under this Agreement or otherwise as an employee of the Employer shall terminate (except as otherwise provided in this § 5):
(i)automatically upon the death of the Executive;

(ii)upon the Disability of the Executive immediately upon written notice from either party to the other party;

(iii)if for Cause, immediately upon delivery of a Notice of Termination from the Chief Executive Officer of Employer to the Executive, or at such later time as such notice may specify;

(iv)if without Cause, upon prior written notice from the Chief Executive Officer of Employer to the Executive, effective at such time as such notice may specify;

(v)if by the Executive other than for Good Reason, upon the Executive’s resignation 30 days following written notice from the Executive to the Board of Directors; or

(vi)if by the Executive for Good Reason, upon and in accordance with the following conditions. In order to terminate for Good Reason, the Executive must give the Board of Directors 

a Notice of Termination at least 60 calendar days in advance of the Executive’s intent to terminate employment for Good Reason setting forth the specific actions by the Employer which triggered the notice and the Notice of Termination must be received by the Chief Executive Officer of Employer no more than ninety (90) calendar days after the complained-of-action(s) occurred which constitute the basis for Good Reason. Upon receipt of the Notice of Termination and for a period of fifteen (15) calendar days thereafter, the Board of Directors shall consider the complained-of-action(s) set forth therein and if such complained-of-action(s) constitute Good Reason shall cure or remedy the actions set forth therein. If the Employer adequately remedies or cures the actions giving rise to the Notice of Termination within such 15-day period, then the resignation by the Executive shall not be for Good Reason.

(b)    Notice of Termination. Any termination by the Employer for Cause or by the Executive for Good Reason shall be communicated by a Notice of Termination to the Executive or the Board of Directors, as applicable. For purposes of this Agreement, a “Notice of Termination” means a written notice which (1) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated, and (iii) the date of termination. The failure by the Executive or the Employer to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause or Good Reason shall not waive any right of the Executive or the Employer, respectively, hereunder or preclude the Executive or the Employer, respectively, from asserting any fact or circumstance in enforcing the Executive’s or the Employer’s rights hereunder.
(c)    Termination Pay. Subject to the terms of §§ 7 and 8 below, effective upon termination of employment of the Executive for any reason, except as required under applicable law, the Employer shall be obligated to pay to the Executive (or, in the event of the Executive’s death, the Executive’s designated beneficiary) only such compensation as is specified in this § 5(c). The Executive’s designated beneficiary will be such individual or trust, located at such address, as the Executive may designate by notice in writing to the Employer from time to time or, if the Executive fails to give notice to the Employer of such a beneficiary, the Executive’s estate. Notwithstanding the preceding sentence, the Employer shall have no duty under any circumstances to determine whether any Person holding herself, himself or itself out as the beneficiary is in fact entitled to any termination payment but may rely upon the representations of such Person.
(i)Termination by the Employer Without Cause or by the Executive for Good Reason.   Subject to Subparagraph 5(c)(ii), if the Executive’s employment is terminated by the Employer without Cause or by the Executive for Good Reason (except in the case of Executive’s Voluntary Retirement as specifically provided below), the Employer shall pay to the Executive in accordance with the Employer’s then current payroll practices one (1) year of Base Compensation; plus any earned and unpaid Base Compensation for the period ending on termination; plus the incentive bonus prorated as of the date of termination. In the case of Executive’s Voluntarily Retirement which qualifies as an event of Good Reason, the Employer shall pay to the Executive one (1) year of Base Compensation, reduced by the market value of Executive’s SERP as of the date of Executive’s Voluntary Retirement.  In addition, the Employer shall (A) pay for and continue disability insurance and health insurance benefits provided to the Executive and the Executive’s dependents immediately prior to the termination of the Executive’s employment for a period of one year, (B) in accordance with past practice, reimburse the Executive for expenses incurred in accordance with § 4; and (C) pay for and continue life insurance policy in accordance with §3(e) for a period of one year. The Executive’s entitlement to the compensation and benefits described in this subsection (i) is specifically subject to the execution and delivery by the Executive of a release agreement in form and substance reasonably acceptable to the Employer.

(ii)Termination upon Disability. If the Executive’s employment is terminated as a result of the Executive’s Disability, the Employer shall (A) pay the Executive an amount equal to any disability payments provided pursuant to the benefits package available to the Executive; (B) pay to the Executive in accordance with the Employer’s then current payroll practices one (1) year of Base Compensation; plus any earned and unpaid Base Compensation for the period ending on termination plus any earned and unpaid annual bonus prorated as of the date of disability; (C) in accordance with the Employer’s past practice, reimburse the Executive for expenses incurred in accordance with § 4; and (D) pay for and continue life insurance policy in accordance with §3(e) for a period of one year.

(iii)Termination on Death. If the Executive’s employment is terminated because of the Executive’s death, the Employer shall pay to the beneficiary of the Executive any earned but unpaid Base Compensation for the period ending on the date of the Executive’s death; plus any earned and unpaid annual bonus prorated as of the date of death. In addition, the Employer, in accordance with the Employer’s past practice, shall reimburse the Executive or the Executive’s heirs or estate for expenses incurred in accordance with § 4.

(iv)Termination by the Employer for Cause. If the Executive’s employment is terminated by the Employer for Cause, the Executive shall be entitled only to receive the Executive’s earned but unpaid Base Compensation through the date of termination. In addition, the Employer, in accordance with the Employer’s past practice, shall reimburse the Executive for expenses incurred in accordance with § 4.

(v)Termination by the Executive without Good Reason. If the Executive’s employment is terminated by the Executive for any reason (other than for Good Reason), the Executive shall be entitled to receive the Executive's earned but unpaid Base Compensation through the date of such termination. In addition, the Employer, in accordance with the Employer’s past practice, shall reimburse the Executive for expenses incurred in accordance with § 4.

§ 6.     Non-Disclosure and Intellectual Property Covenant
(a)    Acknowledgments by the Executive. The Executive acknowledges that (i) during the Employment Period and as a part of the Executive's employment, the Executive will be afforded access to Confidential Information; (ii) public disclosure of such Confidential Information could have an adverse effect on the Employer and its business; and (iii) the provisions of this § 6 are reasonable and necessary to prevent the improper use or disclosure of Confidential Information.
(b)    Agreements of the Executive. In consideration of the compensation and benefits to be paid or provided to the Executive by the Employer under this Agreement, the Executive covenants that:
(i)During and indefinitely following the Employment Period, except in the performance of the Executive’s duties in accordance with this Agreement in the ordinary course of business, the Executive shall hold in confidence the Confidential Information and shall not use or disclose it to any Person except with the specific prior written consent of the Chief Executive Officer of Employer.

(ii)Any trade secrets of the Employer its Affiliates will be entitled to all of the protections and benefits under the Uniform Trade Secrets Act (or similar legislation) as adopted by the State where the Executive is located and any other applicable law. If any information that the Employer deems to be a trade secret is found by a court of competent jurisdiction not to be a trade secret for purposes of this Agreement, such information will, nevertheless, be considered Confidential Information for purposes of this Agreement.

(iii)None of the obligations and restrictions set forth in (i) or (ii), above, applies to any part of the Confidential Information that the Executive demonstrates (A) was or becomes generally available to the public other than as a result of a direct or indirect disclosure by the Executive; (B) is required to be disclosed pursuant to an enforceable court order; or (C) is required to be disclosed by applicable law.

(iv)The Executive shall not remove from the Employer’s premises (except to the extent such removal is for purposes of the performance of the Executive’s duties at home or while traveling, or except as otherwise specifically authorized by the Chief Executive Officer of Employer) any document, record, notebook, plan, model, component, device or computer software or code, whether embodied in a disk or in any other form (collectively, the “Proprietary Items”). The Executive recognizes that, as between the Employer and the Executive, all of the Proprietary Items, whether or not developed by the Executive, are the exclusive property of the Employer. Upon termination of this Agreement by either party, or upon the request of the Employer during the Employment Period, the Executive shall return to the Employer all of the Proprietary Items in the Executive’s possession or subject to the Executive’s control, and the Executive shall not retain any copies, abstracts, sketches or other physical embodiment of any of the Proprietary Items.

(c)    Disputes or Controversies. The Executive recognizes that should a dispute or controversy arising from or relating to this Agreement be submitted for adjudication to any court, arbitration panel or other third party, the preservation of the secrecy of Confidential Information may be jeopardized. All pleadings, documents, testimony and records relating to any such adjudication will be maintained in secrecy and will be available for inspection by the Employer, the Executive and their respective attorneys and experts, who will agree, in advance and in writing, to receive and maintain all such information in secrecy.

(d)    Inventions. The Executive agrees that all discoveries, concepts, and ideas, whether patentable or not relating to any activities of the Employer including, but not limited to, apparatus, processes, methods, compositions of matter, techniques, and formulas, as well as related improvements or know-how (“Inventions”) made or conceived by the Executive, either solely or jointly with others (i) during the Executive’s employment by the Employer or (ii) within one (1) year after termination of such employment, whether or not such Inventions are made or conceived during the hours of the Executive’s employment or with the use of the Employer's facilities, materials, or personnel, shall be and shall remain the property of the Employer, whether patentable or not, and the Executive will, without royalty or any other consideration: (a) inform the Employer promptly and fully of such Inventions by written reports, setting forth in detail the Invention, the procedures employed, and the results achieved; (b) assign to the Employer all of the Executive’s rights, title, and interests in and to any Inventions, any applications for United States and foreign Letters Patent covering the Inventions, any United States and foreign Letters Patent granted upon the applications, and any renewals thereof; (c) assist the Employer or its nominees, at the expense of the Employer, to obtain any United States and foreign Letters Patent for any Inventions as the Employer may elect; and (d) execute, acknowledge, and deliver to the Employer at its expense any written documents and instruments, and do any other acts, such as giving testimony in support of the Executive’s inventorship, as may be necessary in the opinion of the Employer to obtain and maintain United States and foreign Letters Patent upon any Inventions and to vest the entire rights, title and interests in the Employer and to confirm the complete ownership by the Employer of any Inventions, patent applications, and patents.

(e)    Works. The Executive agrees that all works of authorship fixed in a tangible medium of expression relating to any activities of the Employer including, but not limited to, flow charts and computer program source code and object code, regardless of the medium in which it is fixed, as well as notes, drawings, memoranda, correspondence, records, notebooks, instructions, and text (“Works”) created or conceived by 

the Executive, either solely or jointly with others (i) during the Executive’s employment by the Employer or (ii) within one (1) year after termination of such employment, whether or not such, Works are made or conceived during the hours of the Executive’s employment or with use of the Employer’s facilities, materials, or personnel, shall be and shall remain the property of the Employer, and the Executive will, without royalty or any other consideration, promptly disclose in writing to the Employer all Works. The Executive shall cooperate fully with the Employer and its officers and counsel, at the Employer’s direction and expense, in obtaining, maintaining, and enforcing worldwide copyright protection on such Works. Any such Works created by the Executive is a “work made for hire” under the copyright law, and the Employer may file applications to register copyright in such Works as author and copyright owner thereof. If, for any reason, a Work created by the Executive is excluded from the definition of a “work made for hire” under the copyright law, then the Executive shall assign, and does hereby assign, to the Employer the entire rights, title, and interests in and to such Work, including the copyright therein. The Executive shall take whatever steps and do whatever acts the Employer requests including, but not limited to, placement of the Employer proper copyright notice on Works created by the Executive to secure or aid in securing copyright protection in such Works, and shall assist the Employer or its nominees in filing applications to register claims of copyright in such Works.

§ 7.     Non-Competition and Non-Interference.
(a)Acknowledgements by the Executive. The Executive acknowledges that: (i) the
information to be disclosed to the Executive and the services to be performed by the Executive under this Agreement are of a special, unique, extraordinary and intellectual character; (ii) the Employer competes with other businesses that are located in the Market Jurisdictions; (iii) the restricted period of time and the geographic limitations set forth below are reasonable in view of the nature of the business in which the Employer is engaged and the Executive’s knowledge of the Employer’s operations the Executive has gained and will gain by virtue of the Executive’s position; and (iv) the provisions of this §7 are reasonable and necessary to protect the Employer’s business.

(b)Covenants of the Executive. In consideration of the acknowledgments by the Executive, and in consideration of the payments, compensation and benefits to be paid or provided to the Executive by the Employer, the Executive covenants that the Executive will not, directly or indirectly:

(i)    during (A) the Employment Period and for one (1) year thereafter (the “Non-Compete Period”); and (B) the period Executive may be receiving payments under Section 5(c)(ii), except in the course of the Executive’s employment hereunder, directly or indirectly, in a competitive capacity, engage or invest in, own, manage, operate, finance, control or participate in the ownership, management, operation, financing or control of, be employed by, associated with or in any manner connected with, lend the Executive’s name or any similar name to, lend Executive’s credit to or render services or advice to, or plan or prepare to do any of the foregoing with any business whose products or activities compete in whole or in part with the Business in any Market Jurisdiction; provided, however, that the Executive may purchase or otherwise acquire up to (but not more than) two percent (2%) of any class of securities of any entity (but without otherwise participating in the activities of such entity) if such securities are listed on any national or regional securities exchange or have been registered under § 12(g) of the Securities Exchange Act of 1934, as amended.  
(ii)whether for the Executive’s own account or the account of any other Person: (A) at any time during the Employment Period and for 2 years thereafter, directly or indirectly, interfere with, solicit, employ or otherwise engage, as an employee, independent contractor or otherwise, any Person who is or was an employee of the Employer or its Affiliate at any time during the last 2 years of the Employment Period or in any manner induce or attempt to induce any employee of the Employer 

or its Affiliate to terminate his or her employment with the Employer or its Affiliate; or (B) at any time during the Employment Period and in a competitive capacity for one (1) year thereafter, interfere with the Employer’s or its Affiliate’s relationship with any Person, including, but not limited to, any Person who at any time during the Employment Period was a customer, contractor or supplier of the Employer or its Affiliate; or

(iii)at any time during or after the Employment Period, disparage the Employer or its Affiliates or their respective shareholders, board of directors, members, managers, officers, employees or agents.

If any term, provision or covenant in this § 7(b) is held to be unreasonable, arbitrary or against public policy, a court may limit the application of such term, provision or covenant or modify such term, provision or covenant and proceed to enforce this § 7(b) as so limited or modified, which limited or modified term, provision or covenant will be effective, binding and enforceable against the Executive.
The period of time applicable to any covenant in this § 7(b) shall be extended by the duration of any actual or threatened violation by the Executive of such covenant.
The Executive shall, while the covenant under this § 7(b) is in effect, give notice to the Employer, within ten (10) days after accepting any other employment, of the identity of the Executive’s new employer. The Employer may notify such employer that the Executive is bound by this Agreement and, at the Employer’s election, furnish such employer with a copy of this Agreement or relevant portions thereof.
The Executive shall have the right and option to be released from the covenant not to compete set forth in §7(b)(i) above upon written notice to Employer accompanied by a refund of all severance payments made as of the date of such notice by Employer to Executive, whereupon Employer’s obligation to pay Executive severance under §5(c) hereunder shall immediately terminate and be of no further force and effect and Executive shall be released from §7(b)(i) above.

§ 8.    General Provisions.
(a)    Injunctive Relief and Additional Remedy. The Executive acknowledges that the  injury that would be suffered by the Employer as a result of a breach of the provisions of this Agreement (including any provision of §§ 6 and 7) would be irreparable and that an award of monetary damages to the Employer for such a breach would be an inadequate remedy. Consequently, the Employer will have the right, in addition to any other rights, at law or in equity, it may have to obtain injunctive relief to restrain any breach or threatened breach or otherwise to specifically enforce any provision of this Agreement, and the Employer will not be obligated to post bond or other security in seeking such relief. Without limiting the Employer’s rights under this § 8(a) or any other remedies of the Employer, if the Executive has breached or violated or threatens to breach of violate any of the provisions of §§ 6 or 7 the Employer will have the right to cease making any payments otherwise due to the Executive under this Agreement and recover payments previously made to the Executive under this Agreement. Further, if any term, provision or covenant in §§ 6 or 7 is held to be unreasonable, arbitrary, against public policy, or otherwise unenforceable, Executive acknowledges and agrees that the payments required to be made to the Executive shall be waived and that the Executive relinquishes any rights to such payment or any other forms of payment post-dating the Executive’s separation from the Employer.
(b)    Covenants of §§ 6 and 7 Are Essential and Independent Covenants. The covenants by the Executive in §§ 6 and 7 are essential elements of this Agreement, and without the Executive's agreement to comply with such covenants, the Employer would not have entered into this Agreement or employed or continued the employment of the Executive. The Employer and the Executive have been advised in all respects concerning the reasonableness and propriety of such covenants, with specific regard to the nature of the 

business conducted by the Employer. The Executive’s covenants in §§ 6 and 7 are independent covenants and the existence of any claim by the Executive against the Employer under this Agreement or otherwise will not excuse the Executive’s breach of any covenant in §§ 6 or 7. If the Executive’s employment hereunder expires or is terminated, this Agreement will continue in full force and effect as is necessary or appropriate to enforce the covenants and agreements of the Executive in §§ 6 and 7 in accordance with their terms and conditions.
(c)    Representations and Warranties by the Executive. The Executive represents and warrants to the Employer that the execution and delivery by the Executive of this Agreement do not, and the performance by the Executive of the Executive’s obligations hereunder will not, with or without the giving of notice or the passage of time, or both: (i) violate any judgment, writ, injunction or order of any court, arbitrator or governmental agency applicable to the Executive; or (ii) conflict with, result in the breach of any provisions of or the termination of or constitute a default under any agreement to which the Executive is a party or by which the Executive is or may be bound. The Executive acknowledges that the Executive has had a full and complete opportunity to consult with counsel of the Executive’s choosing concerning this Agreement and that the Employer has not made any representations or warranties to the Executive concerning this Agreement other than those specifically stated in this Agreement, if any.
(d)    Waiver. The rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by either party in exercising any right, power or privilege under this Agreement will operate as a waiver of such right, power or privilege, and no single or partial exercise of any such right, power or privilege will preclude any other or further exercise of such right, power or privilege or the exercise of any other right, power or privilege. To the maximum extent permitted by applicable law, (i) no claim or right arising out of this Agreement can be discharged by one party, in whole or in part, by a waiver or renunciation of the claim or right unless in writing signed by the other party (ii) no waiver that may be given by a party will be applicable except in the specific instance for which it is given and (iii) no notice to or demand on one party will be deemed to be a waiver of any obligation of such party or of the right of the party giving such notice or demand to take further action without notice or demand as provided in this Agreement.
(e)    Binding Effect. This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective successors, assigns, heirs and legal representatives.
(f)    Notices. All notices, consents, waivers and other communications under this Agreement must be in writing and will be deemed to have been duly given when (i) delivered by hand (with written confirmation of receipt), or (ii) when received by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested), in each case to the appropriate addresses set forth below (or to such other addresses as a party may designate by notice to the other party):
If to Employer:    Voxx International Corporation
2351 J. Lawson Blvd.
Orlando, FL 32824
Attn: Patrick M. Lavelle

Copy to:    Larry N. Stopol, Esq.
Levy, Stopol & Camelo, LLP
1425 RXR Plaza
Uniondale, NY 11556

If to the Executive:    Thomas C. Malone
16 Miller Farms Dr
Miller Place, NY  11764
(g)    Entire Agreement: Amendments. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, between the parties hereto with respect to the subject matter hereof. This Agreement may not be amended orally, but only by an agreement in writing signed by the parties hereto.
(h)    Governing Law and Forum. This Agreement will be governed by the laws of the State of New York without regard to conflicts of laws principles. Any controversy, dispute or claim arising out of or in connection with this agreement or the breach hereof shall be resolved by arbitration in the City and State of New York in accordance with the rules of the American Arbitration Association.  Judgment upon the award reached by the Arbitrator(s) may be enforced in any court having jurisdiction thereof.
(i)    Section Headings, Construction. The headings of Sections in this Agreement are provided for convenience only and will not affect its construction or interpretation. All references to “§” refer to sections in this Agreement. All words used in this Agreement will be construed to be of such gender or number as the circumstances require. Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms.
(j)    Severability. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.
(k)    Counterparts. This Agreement may be executed in counterparts, which when taken together shall constitute one and the same Agreement.
(l)    Attorneys’ Fees.  In the event any dispute or controversy arising from or relating to this Agreement is submitted to any court, arbitration panel or other party, the prevailing party in such dispute or controversy shall be entitled to reimbursement from the non-prevailing party for the actual fees and expenses incurred by the prevailing party in connection with such dispute or controversy (including, but not limited to, reasonable attorney’s fees, costs and disbursements).

IN WITNESS WHEREOF, the parties have executed and delivered this Employment Agreement as of the date first written above.

EMPLOYER: 

VOXX INTERNATIONAL CORPORATION

By: /s/ Patrick M. Lavelle                    
Patrick M. Lavelle
Title: Chief Executive Officer

EXECUTIVE:

/s/ Thomas C. Malone                        
Thomas C. Malone, individually

EXHIBIT “A”

Bonus Criteria

		
	1.
	Executive will receive an annual bonus of 0.5% of gross profit on the sale of the following products; 360fly, Singtrix, S4W, Car Connection / AT&T, Eyelock (Voxx Distribution), Freewavz and Striiv.  In no event shall this bonus be an amount less than $225,000.

		
	2.
	In the event of a sale in Voxx’s ownership stake in Eyelock LLC, Executive shall receive 1% of Voxx’s net gain from the sale less accumulated losses; in the event of a sale of Voxx’s ownership stake in 360fly, Inc., Executive shall receive 1% of Voxx’s pre tax profit.EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
 WILLIAMS
PARTNERS L.P. 
 And 

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

Trustee 
  

 
 NINTH
SUPPLEMENTAL INDENTURE 
 Dated as of June 5, 2017 

To 
 INDENTURE 

Dated as of November 9, 2010 
  

 
 $1,450,000,000
3.750% Senior Notes due 2027 
  
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  	 	1	 
			
	Section 101	 	 Definitions; Rules of Construction.
	  	 	1	 
	Section 102	 	 Relationship With Base Indenture.
	  	 	7	 
	Section 103	 	 Effect of Headings and Table of Contents.
	  	 	8	 
	Section 104	 	 Successors and Assigns.
	  	 	8	 
	Section 105	 	 Separability Clause.
	  	 	8	 
	Section 106	 	 Governing Law; Waiver of Trial by Jury.
	  	 	8	 
	Section 107	 	 Counterparts.
	  	 	8	 
		
	ARTICLE TWO THE NOTES	  	 	8	 
			
	Section 201	 	 Establishment, Form and Dating.
	  	 	8	 
	Section 202	 	 Registrar and Paying Agent.
	  	 	9	 
		
	ARTICLE THREE LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  	 	9	 
		
	ARTICLE FOUR EVENTS OF DEFAULT	  	 	10	 
		
	ARTICLE FIVE ADDITIONAL COVENANTS	  	 	10	 
			
	Section 501	 	 Limitation on Liens.
	  	 	10	 
		
	ARTICLE SIX REDEMPTION OF NOTES	  	 	11	 
			
	Section 601	 	 Optional Redemption.
	  	 	11	 
			
	EXHIBIT A	 	 FORM OF NOTE
	  			

  
 i 

 This NINTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
June 5, 2017, between WILLIAMS PARTNERS L.P., a Delaware limited partnership (the “Partnership”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, duly organized and validly existing under
the laws of the United States of America, as trustee (the “Trustee”). 
 The Partnership has heretofore executed and
delivered to the Trustee an Indenture, dated as of November 9, 2010 (the “Base Indenture” and, as supplemented and amended by this Supplemental Indenture, the “Indenture”), between the Partnership and the
Trustee, providing for the issuance from time to time of one or more series of Securities. 
 The Partnership has duly authorized the
execution and delivery of this Supplemental Indenture to provide for the issuance of its 3.750% Senior Notes due 2027 (the “Notes”), and the Partnership and the Trustee agree as follows for the benefit of each other and for the
equal and ratable benefit of the Holders of the Notes. 
 The Partnership desires and has requested the Trustee to join with it in the
execution and delivery of this Supplemental Indenture in order to supplement the Base Indenture and to replace, where necessary, covenants in the Base Indenture as and to the extent set forth herein to provide for the issuance and the terms of the
Notes. 
 All things necessary to make this Supplemental Indenture a valid and legally binding agreement of the Partnership, in accordance
with its terms, have been done. 
 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for the
equal and proportionate benefit of all Holders of the Notes as follows: 
 Article One 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
  

	Section 101	Definitions; Rules of Construction. 

 Except as otherwise expressly provided in or
pursuant to this Supplemental Indenture or unless the context otherwise requires, for all purposes of this Supplemental Indenture: 
 (1)
the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 
 (2)
all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein; 

(3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting
principles and, except as otherwise 

 
herein expressly provided, the terms “generally accepted accounting principles” or “GAAP” with respect to any computation required or permitted hereunder shall mean such
accounting principles as are generally accepted at the date of such computation; 
 (4) the words “herein,” “hereof,”
“hereto” and “hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; 

(5) the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B or both,” not
“either A or B but not both”); 
 (6) provisions apply to successive events and transactions; 

(7) any reference to gender includes the masculine, feminine and the neuter, as the case may be; 

(8) references to agreements and other instruments include subsequent amendments thereto and restatements thereof; 

(9) “including” means “including without limitation”; 

(10) all exhibits are incorporated by reference herein and expressly made a part of this Supplemental Indenture; and 

(11) all references to articles, sections and exhibits (and subparts thereof) are to articles, sections and exhibits (and subparts thereof) of
this Supplemental Indenture. 
 Certain terms used principally in certain Articles hereof are defined in those Articles. Capitalized terms
used but not defined in this Supplemental Indenture shall have the meaning ascribed to them in the Base Indenture. 
 “Additional
Notes” means any additional Notes issued under the Indenture as part of the Notes. 
 “Adjusted Treasury Rate”
means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the applicable Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the applicable related Comparable Treasury Price for that Redemption Date. 
 “Base Indenture”
has the meaning assigned to it in the recitals hereto. 
 “Business Entity” has the meaning assigned to it in the
definition of “Non-Recourse Subsidiary” in this Section 101. 
 “Comparable
Treasury Issue” means, with respect to the Notes, the United States Treasury security selected by the Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Notes being redeemed (assuming the
Notes matured on 

  
 2 

 
the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of the Notes being redeemed (assuming the Notes matured on the Par Call Date). 
 “Comparable Treasury
Price” means, with respect to any Redemption Date: 
 (1) the average of the Reference Treasury Dealer Quotations for that
Redemption Date, after excluding the highest and lowest of the Reference Treasury Dealer Quotations, or 
 (2) if the Quotation Agent
obtains fewer than three Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received. 

“Consolidated Net Tangible Assets” means at any date of determination, the total amount of assets of the Partnership and its
Subsidiaries after deducting therefrom: 
 (1) all current liabilities (excluding (A) any current liabilities that by their terms are
extendable or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed, and (B) current maturities of long-term debt); and 

(2) the value (net of any applicable reserves) of all goodwill, trade names, trademarks, patents and other like intangible assets, all as set
forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of the Partnership for the Partnership’s most recently completed fiscal quarter, prepared in accordance with GAAP. 

“Domestic Subsidiary” means any Subsidiary of the Partnership that is incorporated or organized under the laws of the United
States of America, any state thereof or the District of Columbia. 
 “Global Note” means a certificated Note deposited with
or on behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A hereto, and that bears the Global Security Legend and that has the “Schedule of Adjustments” attached thereto. As of the
date of this Supplemental Indenture all of the Notes are represented by Global Notes. 
 “Global Security Legend” means the
legend set forth in Section 203 of the Base Indenture and any other legend required by the Depositary. 

“Indebtedness” means, with respect to any specified Person, any obligation created or assumed by such Person, whether or not
contingent, for the repayment of money borrowed from others or any guarantee thereof. 
 “Indenture” means the Base
Indenture, as supplemented by this Supplemental Indenture, and as may be amended or further supplemented from time to time, pursuant to the applicable provisions of the Base Indenture and this Supplemental Indenture. 

“Initial Notes” means the first $1,450,000,000 aggregate principal amount of the Notes, issued under the Indenture on the
date hereof. 

  
 3 

 “International Subsidiary” means each Subsidiary of the Partnership other than a
Domestic Subsidiary. 
 “Lien” means any mortgage, pledge, lien, security interest or other similar encumbrance. 

“Non-Recourse Indebtedness” means any Indebtedness incurred by any Joint Venture or Non-Recourse Subsidiary which does not provide for recourse against the Partnership or any of its Subsidiaries (other than a Non-Recourse Subsidiary) or any property or assets
of the Partnership or any of its Subsidiaries (other than the Capital Stock or the properties or assets of a Joint Venture or Non-Recourse Subsidiary). 

“Non-Recourse Subsidiary” means any Subsidiary of the Partnership (1) whose
principal purpose is to incur Non-Recourse Indebtedness and/or construct, lease, own or operate the assets financed thereby, or to become a direct or indirect partner, member or other equity participant or
owner in a partnership, limited partnership, limited liability partnership, corporation (including a business trust), limited liability company, unlimited liability company, joint stock company, trust, unincorporated association or joint venture
created for such purpose (collectively, a “Business Entity”), (2) who is not an obligor or otherwise bound with respect to any Indebtedness other than Non-Recourse Indebtedness,
(3) substantially all the assets of which Subsidiary or Business Entity are limited to (x) those assets being financed (or to be financed), or the operation of which is being financed (or to be financed), in whole or in part by Non-Recourse Indebtedness, or (y) Capital Stock in, or Indebtedness or other obligations of, one or more other Non-Recourse Subsidiaries or Business Entities, and
(4) any Subsidiary of a Non-Recourse Subsidiary; provided that such Subsidiary shall be considered to be a Non-Recourse Subsidiary only to the extent that
and for so long as each of the above requirements are met. 
 “Notes” has the meaning assigned to it in the preamble to
this Supplemental Indenture. For purposes of the Indenture, all references to the notes to be issued or authenticated upon transfer, replacement or exchange shall be deemed to refer to Notes. In addition, unless the context otherwise requires, all
references to the “Notes” shall include the Initial Notes and any Additional Notes. 
 “Par Call Date” means
March 15, 2027 (three months prior to the Stated Maturity). 
 “Permitted International Debt” means Indebtedness of
any International Subsidiary for which neither the Partnership nor any Domestic Subsidiary, directly or indirectly, provides any guarantee or other credit support and which is secured, if at all, only by pledges of or Liens on assets (1) held
by an International Subsidiary on the date of this Supplemental Indenture, (2) acquired by an International Subsidiary from a Person not constituting an Affiliate of the Partnership or (3) acquired by an International Subsidiary from the
Partnership, any Domestic Subsidiary or other Affiliate of the Partnership on terms that, in the good faith judgment of the Partnership’s Board of Directors, are no less favorable to the Partnership or the relevant Domestic Subsidiary or other
Affiliate of the Partnership than those that would have been obtained in a comparable transaction by the Partnership or such Domestic Subsidiary or other Affiliate of the Partnership with an unrelated Person or, if in the good faith judgment of the
Partnership’s Board of Directors, no comparable transaction is available with which to compare such transaction, such transaction is otherwise fair to the Partnership or the relevant Domestic Subsidiary or other Affiliate of the Partnership
from a financial point of view. 

  
 4 

 “Permitted Liens” means: 

(1) any Lien existing on any property at the time of the acquisition thereof and not created in contemplation of such acquisition by the
Partnership or any of its Subsidiaries, whether or not assumed by the Partnership or any of its Subsidiaries; 
 (2) any Lien existing on
any property of a Subsidiary of the Partnership at the time it becomes a Subsidiary of the Partnership and not created in contemplation thereof and any Lien existing on any property of any Person at the time such Person is merged or liquidated into
or consolidated with the Partnership or any Subsidiary thereof and not created in contemplation thereof; 
 (3) purchase money and analogous
Liens incurred in connection with the acquisition, development, construction, improvement, repair, or replacement of property (including such Liens securing Indebtedness incurred within 12 months of the date on which such property was acquired,
developed, constructed, improved, repaired or replaced); provided that all such Liens attach only to the property acquired, developed, constructed, improved, repaired or replaced and the principal amount of the Indebtedness secured by such
Lien shall not exceed the gross cost of the property; 
 (4) any Liens created or assumed to secure Indebtedness of the Partnership or any
Subsidiary of the Partnership maturing within 12 months of the date of creation thereof and not renewable or extendible by the terms thereof at the option of the obligor beyond such 12 months; 

(5) Liens on accounts receivable and related proceeds thereof arising in connection with a receivables financing and any Lien held by the
purchaser of receivables derived from property or assets sold by the Partnership or any Subsidiary thereof and securing such receivables resulting from the exercise of any rights arising out of defaults on such receivables; 

(6) leases constituting Liens existing on or after the date hereof and any renewals or extensions thereof; 

(7) any Lien securing industrial development, pollution control or similar revenue bonds; 

(8) Liens existing on the date hereof; 

(9) Liens in favor of the Partnership or any of its Subsidiaries; 

(10) Liens securing Indebtedness incurred to refund, extend, refinance or otherwise replace Indebtedness (“Refinanced
Indebtedness”) secured by a Lien permitted to be incurred under the Indenture; provided that the principal amount of such Refinanced Indebtedness does not exceed the principal amount of Indebtedness refinanced (plus the amount of
penalties, premiums, fees, accrued interest and reasonable expenses incurred therewith) at the time of refinancing; 

  
 5 

 (11) Liens on any assets or properties, or pledges of the Capital Stock, of (A) any Joint
Venture owned by the Partnership or any of its Subsidiaries or (B) any Non-Recourse Subsidiary, in each case only to the extent securing Non-Recourse Indebtedness
of such Joint Venture or Non-Recourse Subsidiary; 
 (12) Liens on the products and proceeds
(including insurance, condemnation and eminent domain proceeds) of and accessions to, and contract or other rights (including rights under insurance policies and product warranties) derivative of or relating to, property permitted by the Indenture
to be subject to Liens but subject to the same restrictions and limitations set forth in the Indenture as to Liens on such property (including the requirement that such Liens on products, proceeds, accessions, and rights secure only obligations that
such property is permitted to secure); 
 (13) any Liens securing Indebtedness neither assumed nor guaranteed by the Partnership or a
Subsidiary of the Partnership nor on which the Partnership or a Subsidiary of the Partnership customarily pays interest, existing upon real estate or rights in or relating to real estate (including rights-of-way and easements) acquired by the Partnership or such Subsidiary, which mortgage Liens do not materially impair the use of such property for the purposes for which it is held by the Partnership or
such Subsidiary; 
 (14) any Lien existing or hereafter created on any office equipment, data processing equipment (including computer and
computer peripheral equipment), or transportation equipment (including motor vehicles, aircraft, and marine vessels); 
 (15) undetermined
Liens and charges incidental to construction or maintenance; 
 (16) any Lien created or assumed by the Partnership or a Subsidiary of the
Partnership on oil, gas, coal, or other mineral or timber property owned by the Partnership or a Subsidiary of the Partnership; 
 (17) any
Lien created by the Partnership or a Subsidiary of the Partnership on any contract (or any rights thereunder or proceeds therefrom) providing for advances by the Partnership or such Subsidiary to finance gas exploration and development, which Lien
is created to secure Indebtedness incurred to finance such advances; 
 (18) any Lien granted in connection with a cash collateralization or
similar arrangement to secure obligations of the Partnership or of any of the Partnership’s Subsidiaries to issuing banks in connection with letters of credits issued at the request of the Partnership or any Subsidiary of the Partnership; 

(19) Liens on cash deposits in the nature of a right of setoff, banker’s lien, counterclaim or netting of cash amounts owed arising in
the ordinary course of business on deposit accounts; 
 (20) Liens securing Permitted International Debt; 

(21) Liens not otherwise permitted so long as the aggregate outstanding principal amount of the Indebtedness secured thereby does not exceed
$10,000,000 at any time; and 
 (22) Liens occurring in, arising from, or associated with Specified Escrow Arrangements. 

  
 6 

 “Primary Treasury Dealer” has the meaning assigned to it in the definition of
“Reference Treasury Dealers” in this Section 101. 
 “Quotation Agent” means the Reference Treasury Dealer
appointed as such agent by the Partnership. 
 “Reference Treasury Dealer Quotations” means, with respect to any Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing
to the Quotation Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding that Redemption Date. 

“Reference Treasury Dealers” means (1) Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated and RBC Capital Markets, LLC and their successors, unless any of such entities ceases to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), in which case the Partnership
shall substitute another Primary Treasury Dealer; and (2) any two other Primary Treasury Dealers selected by the Partnership. 

“Refinanced Indebtedness” has the meaning assigned to it in the definition of “Permitted Liens” in this
Section 101. 
 “Specified Escrow Arrangements” means cash deposits at one or more financial institutions for the
purpose of funding any potential shortfall in the daily net cash position of the Partnership or any of its Subsidiaries. 
 “Stated
Maturity” means June 15, 2027. 
 “Supplemental Indenture” has the meaning assigned to it in the preamble
hereto. 
  

	Section 102	Relationship With Base Indenture. 

 The terms and provisions contained in the Base
Indenture shall constitute, and are hereby expressly made, a part of this Supplemental Indenture and the Partnership and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to
be bound thereby. However, to the extent any provision of the Base Indenture conflicts with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling. 

The Trustee accepts the amendment of the Base Indenture effected by this Supplemental Indenture and agrees to execute the trust created by the
Base Indenture as hereby amended, but only upon the terms and conditions set forth in the Base Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee in the performance of the trust
created by the Base Indenture, and without limiting the generality of the 

  
 7 

 
foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements are made
solely by the Partnership, or for or with respect to (1) the validity or sufficiency of this Supplemental Indenture or any of the terms or provisions hereof, (2) the proper authorization hereof by the Partnership, (3) the due
execution hereof by the Partnership or (4) the consequences (direct or indirect and whether deliberate or inadvertent) of any amendment herein provided for, and the Trustee makes no representation with respect to any such matters. 

 

	Section 103	Effect of Headings and Table of Contents. 

 The Article and Section headings in this
Supplemental Indenture and the Table of Contents herein are for convenience only and shall not affect the construction hereof. 
  

	Section 104	Successors and Assigns. 

 All covenants and agreements in this Supplemental Indenture by
the Partnership shall bind its successors and assigns, whether so expressed or not. 
  

	Section 105	Separability Clause. 

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

	Section 106	Governing Law; Waiver of Trial by Jury. 

 This Supplemental Indenture and the Notes shall
be governed by and construed in accordance with the laws of the State of New York applicable to agreements made or instruments entered into and, in each case, performed in said state. Each of the Partnership and the Trustee hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Supplemental Indenture, the Notes or the transactions contemplated hereby. 

 

	Section 107	Counterparts. 

 This Supplemental Indenture may be executed in several counterparts, each
of which shall be an original and all of which shall constitute but one and the same instrument. 
 Article Two 

THE NOTES 
  

	Section 201	Establishment, Form and Dating. 

 There is hereby established one new series of
Securities to be issued under the Base Indenture, to be designated as the Partnership’s 3.750% Senior Notes due 2027. 

  
 8 

 There are to be authenticated and delivered $1,450,000,000 principal amount of the Notes, and
such principal amount of Notes may be increased from time to time pursuant to Section 301 of the Base Indenture by the issuance of Additional Notes. Any such Additional Notes will have the same interest rate, maturity and other terms as the
Initial Notes of the corresponding series, except for their issue price and, if applicable, the initial interest accrual date and the initial Interest Payment Date, and shall constitute a single series of Securities with the Initial Notes of such
series. No Notes shall be authenticated and delivered in addition to Notes for the principal amount as so increased except as provided by Sections 304, 305, 306, 906 or 1107 of the Base Indenture. The Notes shall be senior debt securities and shall
be issued in fully registered form. 
 The Notes and the Trustee’s certificate of authentication with respect thereto will be
substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication, and except as provided in Section 305 of
the Base Indenture, will be issued in the form of one or more Global Notes. The principal of, and any premium or interest on, the Notes shall be payable in Dollars. The Notes shall be in denominations of $2,000 and integral multiples of $1,000 in
excess thereof. 
 The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of the Indenture
and the Partnership and the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of
the Indenture, the provisions of the Indenture shall govern and be controlling. 
  

	Section 202	Registrar and Paying Agent. 

 The Partnership will maintain a Registrar and Paying Agent
with respect to the Notes. The Registrar will keep a Security Register with respect to the Notes and of their transfer and exchange. 
 The
Partnership initially appoints The Depository Trust Company to act as Depositary with respect to the Global Notes. 
 The Partnership
initially appoints the Trustee to act as the Registrar and Paying Agent with respect to the Notes and to act as custodian for the Depositary with respect to the Global Notes. 

Article Three 
 LEGAL
DEFEASANCE AND COVENANT DEFEASANCE 
 Legal defeasance of the Notes under clause (2) of Section 402 of the Base Indenture and
covenant defeasance of the Notes under clause (3) of Section 402 of the Base Indenture shall be applicable to the Notes of a series, and the Partnership may at its option by Board Resolution, at any time, with respect to the Notes, elect
to have Section 402(2) or Section 402(3) of the Base Indenture be applied to the Outstanding Notes of such series upon compliance with the 

  
 9 

 
conditions set forth in Section 402 of the Base Indenture. In addition to Section 801 of the Base Indenture, Section 501 of this Supplemental Indenture shall be subject to covenant
defeasance under Section 402(3) of the Base Indenture. 
 Article Four 

EVENTS OF DEFAULT 
 For
purposes of the Notes (but not any other Securities, unless provided by the terms thereof), clause (4) of Section 501 of the Base Indenture is hereby amended and restated in its entirety to read as follows: 

“(4) failure on the part of the Partnership duly to observe or perform any other of the covenants or agreements (other than those described in clause
(1), (2) or (3) above) on the part of the Partnership with respect to the Notes or otherwise established with respect to the Notes pursuant to Section 301 hereof or contained in this Indenture, which failure continues for a period of 60
days, or in the case of such a failure with respect to Section 704 of this Indenture, 90 days, after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of
Default” shall have been given to the Partnership by the Trustee, upon direction of Holders of at least 25% in principal amount of the then Outstanding Notes; provided, however, that if such failure is not capable of cure within
such 60-day or 90-day period, as the case may be, such 60-day or 90-day period, as the
case may be, shall be automatically extended by an additional 60 days so long as (i) such failure is subject to cure, and (ii) the Partnership is using commercially reasonable efforts to cure such failure; and provided,
further, that a failure to comply with any such other agreement in the Indenture that results from a change in GAAP shall not be deemed to be an Event of Default;” 

Article Five 

ADDITIONAL COVENANTS 
 The
Notes shall be subject to the following covenant in addition to the provisions of Article Ten of the Base Indenture (provided that Section 1004 of the Base Indenture shall not be applicable to the Notes): 

 

	Section 501	Limitation on Liens. 

 The Partnership shall not, and shall not permit any Subsidiary of
the Partnership to, issue, assume or guarantee any Indebtedness secured by a Lien, other than Permitted Liens, upon any property of the Partnership or any of its Subsidiaries, owned on the date of the Indenture or thereafter acquired, unless the
Notes are equally and ratably secured with such Indebtedness until such time as such Indebtedness is no longer secured by such a Lien. 

Notwithstanding the preceding paragraph, the Partnership may, and may permit any Subsidiary of the Partnership to, issue, assume or guarantee
any Indebtedness secured by a Lien, other than a Permitted Lien, without securing the Notes, upon any property of the Partnership or 

  
 10 

 
any of its Subsidiaries; provided that the aggregate principal amount of all Indebtedness of the Partnership and any Subsidiary of the Partnership then outstanding secured by any such
Liens (other than Permitted Liens) does not exceed 15% of Consolidated Net Tangible Assets. 
 Article Six 

REDEMPTION OF NOTES 
  

	Section 601	Optional Redemption. 

 The Notes may be redeemed, in whole or in part, at the option of
the Partnership pursuant to the terms set forth in the first and second paragraphs of Section 2 of the Notes. In the case of a redemption pursuant to the first paragraph of Section 2 of the Notes, the Partnership shall give the Trustee
notice of the Redemption Price promptly after the determination thereof and the Trustee shall have no responsibility for determining such Redemption Price. Other than as specifically provided in this Section 601 or Section 2 of the Notes,
any redemption pursuant to this Section 601 will be made pursuant to the provisions of Article Eleven of the Base Indenture. 

Article Seven 
 THE
TRUSTEE 
 ARTICLE SIX of the Indenture is hereby amended and supplemented as follows: 

 

	 	1.	Whenever the phrase “in its individual capacity” appears with reference to the Trustee insert the words “or as Trustee” immediately following “in its individual capacity”.

  

	 	2.	Amend Section 602(18) by adding the word “punitive,” immediately following the word “special”. 

  

	 	3.	Amend Section 602(12) by deleting the words: “either (A) a Responsible Officer shall have actual knowledge of such default or Event of Default or (B)”, and insert the words “at the Corporate
Trust Office” after the word “given” in the 4th line. 

  

	 	4.	Add a new subsection 602(20) which says: “The Trustee may hold funds uninvested without liability for interest unless otherwise agreed in writing.” 

 

	 	5.	Section 609 is amended by adding “upon 30 days prior written notice” in Section 609(2) after the word “resign” in the first line, and in Section 609(3) after the word
“removed” in the first line. 

  
 11 

 Article Eight 

MISCELLANEOUS AMENDMENTS 

Section 113 of the Indenture is amended and supplemented by adding the following: 

“THE COMPANY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY
OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE AND THE SECURITIES, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN
RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. 
 The Company irrevocably and unconditionally
waives any objection to the laying of venue of any suit, action or other proceeding in the aforesaid courts and irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such suit, action or other proceeding
brought in any such court has been brought in an inconvenient forum.” 
 Section 307 of the Indenture is amended by adding the
following provision as an additional paragraph: 
 “The Company shall provide to the Trustee and to each Paying Agent information
necessary to determine the nature of income payments and whether any tax or withholding obligations apply; and the Trustee and any Paying Agent shall be entitled to withhold from any payments (without liability) if required to comply with applicable
law.” 
 Section 704 of the Indenture is amended by adding the words “or actual” to the last paragraph, second line,
after the word “constructive”. 
 [Remainder of page intentionally left blank] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

					
	WILLIAMS PARTNERS L.P.

 
					
		
	By:	 	WPZ GP LLC, its General Partner

 
					
		
	By:	 	 /s/ Peter S. Burgess

		 	Name:	 	Peter S. Burgess
		 	Title:	 	Treasurer

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

 
					
		
	By:	 	 /s/ Karen Yu

		 	Name:	 	Karen Yu
		 	Title:	 	Vice President

 [Signature Page to Ninth Supplemental Indenture] 

 EXHIBIT A 

[Face of the Note] 
  

CUSIP: 96949L AD7 
 ISIN:
US96949LAD73 
 3.750% Senior Note due 2027 
  

			
	No.         	  	$            

 WILLIAMS PARTNERS L.P. 

promises to pay to [CEDE & Co.]1 or registered assigns, 

the principal sum of
                                         DOLLARS
[or such greater or lesser amount as is indicated on the Schedule of Adjustments attached hereto]2 on June 15, 2027. 

Interest Payment Dates: June 15 and December 15 

Regular Record Dates: June 1 or December 1 (whether or not a Business Day) 

Dated:                     

[Signature Pages Follow] 

 

	1 	Insert in Global Notes only 

	2 	Insert in Global Notes only 

 Dated:                 

 

					
	WILLIAMS PARTNERS L.P.

 
					
		
	By:	 	WPZ GP LLC, its General Partner

 
					
		
	By:	 	  

		 	Name:	 	Peter S. Burgess
		 	Title:	 	Treasurer

  
 A-2 

 Dated:                 

 

			
	 This is one of the Notes referred to

in the within-mentioned Indenture:

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

			
		
	By:	 	  

		 	Authorized Signatory

  
  

  
 A-3 

 [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 TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH
TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL
SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO WILLIAMS PARTNERS L.P. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNED HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3 

 

	3 	Insert in Global Notes only. 

  
 A-4 

 [Reverse of the Note] 

WILLIAMS PARTNERS L.P. 
 3.750%
Senior Note due 2027 
  

	 	1.	GENERAL 

 This Note is one of a duly authorized issue of Securities of the Partnership (the
“Securities”), issued and issuable in one or more series under an Indenture, dated as of November 9, 2010, (the “Base Indenture”), between the Partnership and The Bank of New York Mellon Trust Company, N.A., as
Trustee (the “Trustee,” which term includes any successor trustee under the Base Indenture), to which Base Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights,
limitation of rights, duties and immunities thereunder of the Partnership, the Trustee and the Holders of the Securities issued thereunder and of the terms upon which said Securities are, and are to be, authenticated and delivered. This Note is one
of the series designated on the face hereof as 3.750% Senior Notes due 2027 (the “Notes”) which was issued under the Ninth Supplemental Indenture to the Base Indenture dated as of June 5, 2017 (the “Supplemental
Indenture”, together with the Base Indenture, the “Indenture”) and which is initially limited to $1,450,000,000 in aggregate principal amount. Capitalized terms used herein for which no definition is provided herein shall
have the meanings set forth in the Indenture. 
 The Partnership promises to pay interest on the principal amount of this Note at the rate
of 3.750% per annum from [Insert for Initial Notes – “June 5, 2017”] until the Stated Maturity, unless earlier repurchased, redeemed or otherwise cancelled. The Partnership will pay interest semiannually on June 15 and
December 15 of each year (each an “Interest Payment Date”). Interest on the Notes will accrue from the most recent Interest Payment Date on which interest has been paid or duly provided for or, if no interest has been paid or
duly provided for, from [Insert for Initial Notes – “June 5, 2017”]; provided that if there is no existing default in the payment of interest, and if this Note is authenticated between a regular record date set forth on
the face hereof (each a “Regular Record Date”) and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment
Date shall be [Insert for Initial Notes – “December 15, 2017”] and interest accrued from [Insert for Initial Notes – “June 5, 2017”] shall be payable on such date. The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Regular Record Date next preceding such Interest Payment Date.
Except as otherwise provided in the Indenture, 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 Note 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 the Holders of the Notes 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, if any, on which the Notes shall be listed, and upon such notice as may be required by any such exchange, all as more fully provided in
the Indenture. Payments of interest on the Notes will include interest accrued to but excluding the respective Interest Payment Dates. 

  
 A-5 

 Further, the Partnership shall pay interest on overdue principal and premium, if any, from time
to time on demand at a rate of 3.750% per annum; it shall pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed
on the basis of a 360-day year of twelve 30-day months. 

If an Interest Payment Date, the Stated Maturity or a Redemption Date falls on a day that is not a Business Day, payment of principal,
premium, if any, and interest due on that date shall be made on the next following day that is a Business Day and no interest shall accrue for the period from and after the Interest Payment Date, Stated Maturity or such Redemption Date, as the case
may be, on the payment so deferred. 
  

	 	2.	OPTIONAL REDEMPTION 

 The Notes are subject to redemption upon not less than 10 or more than 60
days’ notice to the Holders of the Notes to be redeemed as provided in the Indenture, at any time or from time to time prior to the Par Call Date as a whole or in part, at the election of the Partnership, at a Redemption Price equal to the
greater of: (i) 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to the Redemption Date and (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments
of principal of and interest on the Notes to be redeemed that but for the redemption would be due after the Redemption Date through the Par Call Date, assuming the Notes matured on the Par Call Date (not including any portion of payments of interest
accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted
Treasury Rate, plus 25 basis points plus accrued and unpaid interest to the Redemption Date. 
 In addition, the Notes are subject to
redemption upon not less than 10 or more than 60 days’ notice to the Holders of the Notes to be redeemed as provided in the Indenture, at any time or from time to time on or after the Par Call Date, in whole or in part, at the election of the
Partnership, at a Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date. 

If less than all the Notes are to be redeemed, selection of Notes for redemption will be made [Insert for Global Notes – by the
Depositary by lot or other means in accordance with the Depositary’s procedures] [Insert for a Definitive Security - by the Trustee in such manner as it shall deem appropriate and fair]. Unless the Partnership defaults in payment of such
Redemption Price, from and after the Redemption Date, the Notes or portions thereof called for redemption will cease to bear interest, and the Holders thereof will have no right in respect of such Notes except the right to receive the Redemption
Price thereof. 
  

	 	3.	DEFEASANCE 

 The Indenture contains provisions for defeasance of (a) the entire
indebtedness of this Note and (b) certain restrictive covenants upon compliance by the Partnership with certain conditions set forth therein. 

  
 A-6 

	 	4.	DEFAULTS AND REMEDIES 

 If an Event of Default with respect to the Notes shall occur and be
continuing, the principal of the Notes may be declared due and payable, or in the circumstances described in the Indenture, shall automatically become due and payable, in the manner and with the effect provided in the Indenture. At any time after
such declaration of acceleration or automatic acceleration with respect to the Notes has been made or has occurred, but before a judgment or decree for payment of money has been obtained by the Trustee as provided in the Indenture, if all Events of
Default with respect to the Notes have been cured or waived (other than the non-payment of principal of the Notes which has become due solely by reason of such declaration of acceleration or automatic
acceleration) and certain other conditions have been complied with, then and in every such case, the Holders of a majority in aggregate principal amount of the Outstanding Notes may, by written notice to the Partnership and to the Trustee, rescind
and annul such declaration or automatic acceleration and its consequences on behalf of all of the Holders of Notes, but no such rescission or annulment shall extend to or affect any subsequent default or impair any right consequent thereon. 

As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding,
judicial or otherwise, with respect to the Indenture, or for the appointment of a receiver or trustee or for any other remedy thereunder, unless (a) such Holder shall have previously given the Trustee written notice of a continuing Event of
Default with respect to the Notes, (b) (i) in the case of an Event of Default specified in clause (1), (2), (5) or (6) of Section 501 of the Indenture, Holders of not less than 25%, or (ii) in the case of an Event of Default
specified in clause (3) or (4) of Section 501 of the Indenture, Holders of not less than a majority, in aggregate principal amount of the Outstanding Notes shall have made written request to the Trustee to institute proceedings in respect
of such Event of Default in its own name as Trustee hereunder, (c) such Holders shall have offered the Trustee indemnity satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request,
(d) for 60 days after its receipt of such notice, the Trustee shall not have received from the Holders of a majority in principal amount of the Notes at the time Outstanding under the Indenture a direction inconsistent with such request, and
(e) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have failed to institute any such proceeding. The foregoing shall not apply to certain suits described in the Indenture, including any suit
instituted by the Holder of this Note for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed or provided for herein. 

 

	 	5.	NONIMPAIRMENT 

 No reference herein to the Indenture and no provision of this Note or of the
Indenture shall alter or impair the obligation of the Partnership, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest, if any, on this Note at the times, place and rate, and in the coin or currency,
herein prescribed. 

  
 A-7 

	 	6.	DENOMINATIONS; TRANSFER AND EXCHANGE 

 The Notes are in registered form in denominations of
$2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and the Partnership may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Partnership need not exchange or register the transfer of any Note or portion of a
Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. 
  

	 	7.	SUCCESSOR OBLIGORS 

 When a successor assumes all the obligations of its predecessor under the
Notes and the Indenture in accordance with the terms of the Indenture, the predecessor will be released from those obligations, except in the case of a lease. 
  

	 	8.	TRUSTEE DEALINGS WITH THE PARTNERSHIP 

 The Trustee under the Indenture, in its individual or
any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Partnership, its Subsidiaries or their respective Affiliates as if it were not the Trustee. 

 

	 	9.	AUTHENTICATION 

 This Note will not be valid until authenticated by the manual signature of the
Trustee or an Authenticating Agent. 
  

	 	10.	NO RECOURSE AGAINST OTHERS 

 The owners of the Partnership’s Capital Stock, the General
Partner and its directors, officers, and members will not be liable for the Partnership’s obligations under the Note, the Indenture or for any claim based on, or in respect of, such obligations. By accepting a Note, each Holder of that Note
will have agreed to Section 117 of the Base Indenture and waived and released any such liability on the part of the owners of the Partnership’s Capital Stock, the General Partner and its directors, officers, and members. The waiver and
release are part of the consideration for issuance of the Notes. 
 Notwithstanding the foregoing, nothing in the preceding paragraph shall
be construed to modify or supersede any obligation of the General Partner to restore any negative balance in its capital account (maintained by the Partnership pursuant to the Limited Partnership Agreement) upon liquidation of its interest in the
Partnership. 
  

	 	11.	CUSIP NUMBERS 

 Pursuant to a recommendation promulgated by the Committee on Uniform Note
Identification Procedures, the Partnership will cause CUSIP numbers to be printed on the Notes as a convenience to the Holders of Notes. 

  
 A-8 

	 	12.	GOVERNING LAW 

 This Note shall be governed by and construed in accordance with the laws of the
State of New York applicable to agreements made or instruments entered into and, in each case, performed in said state. 
  

	 	13.	AMENDMENT, SUPPLEMENT AND WAIVER 

 Subject to certain exceptions, the Indenture or the Notes may
be supplemented by an indenture or indentures supplemental to the Indenture with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes affected by such supplemental indenture (including consents obtained
in connection with a purchase of, or tender offer or exchange offer for, Notes) and any existing default or Event of Default with respect to the Notes may be waived with the consent of the Holders of not less than a majority in aggregate principal
amount of the Outstanding Notes, except a continuing default in the payment of the principal of, or any premium or interest on the Notes, or in respect of a covenant or provision of the Indenture which cannot be modified or amended without the
consent of the Holder of each Outstanding Note. Without the consent of any Holder of Notes, the Partnership and the Trustee, at any time and from time to time, may enter into one or more supplemental indentures as provided in the Indenture, subject
to the exceptions set forth therein. 
 [Remainder of page intentionally left blank] 

  
 A-9 

 SCHEDULE A 

[SCHEDULE OF ADJUSTMENTS]4 

 

																	
	 Date Adjustment Made
	  	Principal
Amount
Increase	 	  	Principal
Amount
Decrease	 	  	Principal
Amount
Following
Adjustment	 	  	Notification
Made on
Behalf of the
Trustee	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  

	4 	Insert in Global Notes only 

  
 A-10

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