Document:

Employment Agreement

 Exhibit 10.41 
 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT (this “Agreement”) made as of the __th day of August,
2006 by and between James F. Anderson (“Employee”) and DHB Industries, Inc., a Delaware corporation (together with all divisions, subsidiaries and groups, the “Company”). 
 NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and
sufficiency of which is acknowledged, the parties agree as follows: 
 1. Term. 
 1.1 Initial Term The Company agrees to employ Employee, and Employee agrees to be employed by the Company, subject to the terms and
conditions of this Agreement, for an initial three year period (“the Initial Employment Period”) commencing on the date hereof (the “Effective Date”). 
 1.2 Renewal Period(s). The Agreement will automatically renew for successive one year periods (“Renewal Period”) at the
conclusion of the Initial Employment Period or Renewal Period, unless notice of non-renewal of the Agreement is provided to the Employee by the Employer ninety days before the expiration of the Initial Employment Period or Renewal Period.

 2. Employment Duties. 
 2.1 Title. Employee shall be employed in the business of the Company. Employee shall serve with the title of Chief Accounting Officer. Employee shall devote substantially all of his working time and efforts to
the performance of his duties under this Agreement. 
 2.2 Location. In performing his duties hereunder, Employee shall
be available for reasonable travel, as the needs of the business of the Company may require. Employee shall be based at the Company’s Pompano Beach, Florida facility. 
 2.3 Reporting. Employee shall report to the Controller, or such other persons as the Chief Executive Officer of the Company shall
direct from time to time. 
 3. Compensation/Benefits. In consideration of Employee’s services hereunder, the Company shall
provide Employee the following: 
 3.1 Base Salary. The Employee shall receive an annual rate of base salary
(“Base Salary”) not less than $300,000, which may be increased periodically based on performance. 
 3.2
Bonuses. Commencing at the close of each fiscal year of the Company, the Company shall review the performance of the Company and of Employee during the prior fiscal year, and the Company may provide Employee with additional compensation as a
bonus if 

 
the Board of Directors of the Parent, or any compensation committee thereof, in its sole discretion, determines that Executive’s contribution to the
Company warrants such additional payment and the Company’s anticipated financial performance of the present period permits such payment. Bonuses shall be paid as a lump sum not later than sixty (60) days after the end of the Company’s
preceding fiscal year, provided Employee remains employed and has not given notice of termination at the time such payment is due. 
 3.3 Equity Compensation. To induce Employee to enter into this Agreement, Employee may be granted by the Company a warrant or option to purchase shares of common stock of the Company, pursuant to a separate agreement. 
 3.4 Vacations. Employee shall be entitled to three (3) weeks of paid vacation per calendar year. Unused vacation shall not be
carried over to any subsequent year. 
 3.5 Other Benefits. The Company shall provide to Employee such other benefits,
including the right to participate in medical and other benefit plans, as are made generally available to executives of the Company from time to time. Employee shall also receive $10,000 to cover relocation expenses. 
 4. Expenses; Indemnification. 
 4.1 Expenses. The Company shall reimburse Employee for the reasonable business expenses incurred by Employee in the course of performing his duties for the Company, upon submission of invoices, vouchers or other appropriate
documentation, as may be required in accordance with the policies in effect from time to time for executive employees of the Company. 
 4.2 Indemnity. To the fullest extent permitted by law, the Company shall indemnify Employee with respect to any actions commenced against Employee in his capacity as an officer, director, employee, agent or
fiduciary or former officer, director, employee, agent or fiduciary of the Company, or any affiliate thereof for which Employee may render service in such capacity, whether by or on behalf of the Company, its shareholders or third parties, and the
Company shall advance to Employee on a timely basis an amount equal to the reasonable fees and expenses incurred in defending such actions, after receipt of an itemized request for such advance, and an undertaking from Employee to repay the amount
of such advance if it shall ultimately be determined that Employee is not entitled (as a matter of law or by judicial determination) to be indemnified against such expenses. This indemnity shall survive any termination of employment under this
Agreement and is in addition to and not in limitation of any other right to indemnification or exoneration to which Employee is entitled at law, or under the governing charter documents of the Company. The Company agrees to use its best efforts to
secure and maintain officers’ and directors’ liability insurance, including coverage for Employee. 
 5. Covenants and
Confidential Information. 
 5.1 Restrictive Covenants. Employee acknowledges the Company’s reliance on and
expectation of Employee’s continued commitment to performance of his duties and responsibilities during the Employment Period. In light of such reliance and expectation on the part of the Company, during the applicable period hereafter
specified in Section 5.2, Employee shall not, directly or indirectly, do or suffer either of the following: 
 (a)(1)
own, manage, control or participate in the ownership, management or control of, or be employed or engaged by or otherwise affiliated or associated as an employee, agent, representative, consultant, independent contractor or otherwise with, any other
corporation, partnership, proprietorship, firm, association or other business entity engaged in the business of, or otherwise engage in the business of, manufacturing, selling or distributing body armor or body armor related products within the
United States in direct or indirect competition with the Company or any of its affiliates; 
  

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 (2) solicit any business or contracts from any customers of the Company or its
affiliates, any past customers of the Company or its affiliates, or any prospective customers of the Company or its affiliates (i.e., potential customers from which the Company or its affiliates has solicited business at any time during the twelve
(12) month period preceding the expiration or termination of the Employment Period), except as necessitated by Employee’s position with the Company and then only in furtherance of the business interests of the Company or its affiliates;

 (3) induce or attempt to induce any such customer to alter its business relationship with the Company or its affiliates
except as necessitated by Employee’s position with the Company and then only in furtherance of the business interests of the Company or its affiliates; 
 (4) solicit or induce or attempt to solicit or induce any employee of the Company or its affiliates to leave the employ of the Company or
any of its affiliates for any reason whatsoever or hire any employee or any person who was an employee of the Company or its affiliates within the twelve (12) month period prior to such hiring; or 
 (5) directly or indirectly, engage in any conduct or make any statement, whether in commercial or noncommercial speech, disparaging or
criticizing in any way the Company or any of its affiliates, or any products or services offered by any of them, nor shall Employee engage in any other conduct or make any other statement that could be reasonably expected to impair the goodwill of
any of the Company or any if its affiliates, the reputation of any products or services of the Company or any of its affiliates or the marketing of such products or services. 
 (b) disclose, divulge, discuss, copy or otherwise use or suffer to be used in any manner, other than in accordance with Employee’s
duties hereunder, any confidential or proprietary information relating to the Company’s or any of its affiliates’ businesses, prospects, finances, operations or properties or other trade secrets of the Company or any of its affiliates, it
being acknowledged by Employee that all such information regarding the business of the Company or any of its affiliates compiled or obtained by, or furnished to, Employee while Employee shall have been employed by or associated with the Company is
confidential and/or proprietary information and the Company’s exclusive property; provided, however, that the foregoing restrictions shall not apply to the extent that such information: (A) is clearly obtainable in the public domain;
(B) becomes obtainable in the public domain, except by reason of the breach by Employee of the terms hereof or by another person barred by a similar duty of confidentiality; or (C) is required to be disclosed by rule of law or by order of
a court or governmental body or agency. 
  

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 5.2 Applicable Periods. The applicable periods shall be: 
 (a) so long as Employee is an employee of the Company; and 
 (b) for a period of twelve (12) months after termination of employment or the expiration of the Employment Period. 
 5.3 Injunctive Relief. Employee agrees and understands that the remedy at law for any breach by his of this Section 5 will be
inadequate and that the damages flowing from such breach are not readily susceptible to being measured in monetary terms. Accordingly, it is acknowledged that the Company shall be entitled to immediate injunctive relief and may obtain a temporary
order restraining any threatened or further breach. Nothing in this Section 5 shall be deemed to limit the Company’s remedies at law or in equity for any breach by Employee of any of the provisions of this Section 5 which may be
pursued or availed of by the Company. 
 5.4 Acknowledgment by Employee. Employee has carefully considered the nature
and extent of the restrictions upon his and the rights and remedies conferred upon the Company under this Section 5, and hereby acknowledges and agrees that the same are reasonable in time and territory, do not stifle the inherent skill and
experience of Employee, would not operate as a bar to Employee’s sole means of support, are fully required to protect the legitimate interests of the Company, and do not confer a benefit upon the Company disproportionate to the detriment of
Employee. 
 6. Proprietary Rights. 
 6.1 Copyrights. At all times during the Employment Period, all right, title and interest in all copyrightable material which Employee shall conceive or originate, either individually or jointly with others, and
which arise out of the performance of this Agreement, will be the property of the Company and are by this Agreement assigned to the Company along with ownership of any and all copyrights in the copyrightable material. At all times during the
Employment Period, Employee agrees to execute all papers and perform all other acts necessary to assist the Company to obtain and register copyrights on such materials in any and all countries, and the Company agrees to pay expenses associated with
such copyright registration. Works of authorship created by Employee for the Company in performing his responsibilities under this Agreement shall be considered “works made for hire” as defined in the U.S. Copyright Act. In addition,
Employee hereby assignees to the Company all proprietary rights, including but not limited to, all patents, copyrights, trade secrets and trademarks Employee might otherwise have, by operation of law or otherwise, in all inventions, discoveries,
works, ideas, information, knowledge and data related to Employee’s access to confidential information of the Company during the Employment Period. 
 6.2 Know-How and Trade Secret. All know-how and trade secret information conceived or originated by Employee which arises out of the performance of his obligations or responsibilities under this Agreement
during the Employment Period or otherwise shall be the property of the Company, and all rights therein are by this Agreement assigned to the Company. 
 6.3 Joint Ventures, etc. If, during the Employment Period, Employee is engaged in or associated with the planning or implementing of any project, program or venture involving the Company and a third party or
parties, all rights in such project, program or venture shall belong to the Company. Except as formally approved by the Board of Directors of the Parent, Employee shall not be entitled to any interest in such project, program or venture or to any
commission, finder’s fee or other compensation in connection therewith other than the compensation to be paid to Employee as provided in this Agreement. 
  

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 6.4 Return of Materials. Upon termination of the Employment Period, Employee shall
deliver promptly to the Company all records, manuals, books, documents, letters, memoranda, notes, notebooks, reports, data, tables, calculations, customer and prospective customer lists, and copies of all of the foregoing, which are the property of
the Company, and all other property, trade secrets and confidential information of the Company, including, but not limited to, all documents which in whole or in part contain any trade secrets or confidential information of the Company, which in any
of these cases are in his possession or under his control. 
 7. Termination; Change of Control. 
 7.1 At-Will Employment. Employee’s employment hereunder is “at will” and may be terminated at any time, with or
without cause, at the option of the Company, subject only to the obligations under Section 7.2 below. Additionally, this Agreement may be terminated by Employee by delivering written notice to the Company in the manner specified below.
Simultaneous with any termination or resignation hereunder, the Initial Employment Period or Renewal Period shall expire. 
 7.2 Rights Upon Termination; Payment of Benefits Earned Through Date of Termination. Upon any termination of Employee’s employment, Employee shall in all events be paid all accrued but unpaid Base Salary and all earned but
unpaid compensation (vacation) earned through his Date of Termination (as defined below). Employee shall also retain all such rights with respect to vested equity-based awards as are provided under the circumstances under the applicable grant or
award agreement, and shall be entitled to all other benefits which are provided under the circumstances in accordance with the provisions of the Company’s generally applicable employee benefit plans, practices and policies and Employee shall
have no further entitlements with respect thereto. Further, if this Agreement is terminated by the Company, other than for cause or as a result of Employee’s death, or if the Agreement is not renewed, Employee shall be entitled to a sum
equivalent to 12 months salary. For purposes of this Agreement, “cause” shall be defined as gross negligence, willful misconduct, or constructive abandonment on the part of Employee. 
 7.3 Notice of Termination. Notice of termination of this Agreement or of any termination of Employee’s employment (other than
by reason of death) shall be communicated by written notice (a “Notice of Termination”) from one party to the other in accordance with this Section 7 and Section 8. “Date of Termination,” with respect to any termination
of Employee’s employment during the Initial Employment Period or Renewal Period, shall mean the effective date of termination specified in the Notice of Termination. 
 8. Notice. Any notice required or permitted hereunder shall be in writing and shall be
deemed sufficient when given by hand or by nationally recognized overnight courier or by express, registered or certified mail, postage prepaid, return receipt requested, and addressed, if to the Company at 2102 S.W. 2nd Street, Pompano Beach, FL 33069, and if to Employee at the address set forth in the Company’s records (or to such other address as may be provided by notice). Notice shall be
effective three (3) days after it is delivered to any courier, or immediately if delivered in hand. 
  

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 9. Miscellaneous. This Agreement constitutes the entire agreement between the parties concerning
the subjects hereof and supersedes any and all prior agreements, term sheets or understandings. This Agreement may not be assigned by Employee, and may be assigned by the Company and shall be binding upon, and inure to the benefit of, the
Company’s successors and assigns. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly
and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as
hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. Headings herein are for convenience of reference only and shall not define, limit
or interpret the contents hereof. 
 10. Amendment. This Agreement may be amended, modified or supplemented by the mutual consent of
the parties in writing, but no oral amendment, modification or supplement shall be effective. No waiver by either party of any breach by the other party of any condition or provision contained in this Agreement to be performed by such other party
shall be deemed a waiver of a similar or dissimilar condition or provision at the same or any prior or subsequent time. Any waiver must be in writing and signed by Employee or an authorized officer of the Company, as the case may be. 
 11. Severability. The provisions of this Agreement are severable. The invalidity of any provision shall not affect the validity of any other
provision, and each provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 
 12. Resolution
of Disputes; Enforcement. Any controversy or claim seeking equitable relief pursuant to this Agreement, all controversies and claims arising under or in connection with this Agreement or relating to the interpretation, breach or enforcement
hereof and all other disputes between the parties in connection with the employment of the Employee shall be heard in the courts of the State of Florida, County of Broward (“Court”) which shall have exclusive jurisdiction of any and all
such disputes and which shall apply the law specified in Section 17 below. Each party shall pay the cost of his or its own legal fees and expenses incurred in connection with any such litigation. No party to any such litigation shall be liable
to the other for multiple, punitive, exemplary or consequential damages. All parties consent to the jurisdiction of the Court, and agree inter alia that service may be had pursuant to the provisions of any “long-arm statute”
so-called applicable to proceedings pending within such Court. 
 13. Survivorship. The provisions of Sections 4, 5 and 6 of this
Agreement shall survive Employee’s termination of employment. Other provisions of this Agreement shall survive any termination of Employee’s employment to the extent necessary to the intended preservation of each party’s respective
rights and obligations. 
 14. Withholding. All amounts required to be paid by the Company shall be subject to reduction in order to
comply with applicable federal, state and local tax withholding requirements. 
  

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 15. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall
be deemed to be an original but all of which together shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature. 
 16. Definition of Terms. The term “affiliate,” when used in this Agreement with respect to any person, means any other person
that, directly or indirectly, controls, is controlled by or is under common control with the first person. The term “person,” when used in this Agreement, means any natural person or entity with legal status. 
 17. Governing Law. This Agreement shall be construed and regulated in all respects under the internal laws of the State of Florida, without regard
to principles of conflict of laws of such state. 
 18. Captions. All captions are provided for convenience, do not form a part of
this Agreement, and are not admissible for purposes of construction. 
 IN WITNESS WHEREOF, this Agreement is entered into as of the date
first written above. 
  

					
	DHB INDUSTRIES, INC.
		
	By:	 	 
		 	Name:	 	Larry Ellis
		 	Its:	 	President/Acting CEO
		
	 	 	 
		 	James F. Anderson

  

 7Form of 5.50% Senior Notes due 2012

 Exhibit 4.1 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 NEITHER THIS NOTE NOR THE GUARANTEE INCLUDED HEREIN IS A BANK DEPOSIT OR INSURED BY
THE FEDERAL DEPOSIT INSURANCE CORPORATION OR BY ANY OTHER INSURER OR GOVERNMENTAL AGENCY. 
 THE INDENTURE, DATED AS OF DECEMBER 1,
1991, RELATING TO THIS SECURITY, HAS BEEN AMENDED BY A SUPPLEMENTAL INDENTURE, DATED AS OF FEBRUARY 15, 1993, AND FURTHER AMENDED BY A SECOND SUPPLEMENTAL INDENTURE, DATED AS OF FEBRUARY 15, 2000. 

 PNC FUNDING CORP 
 5.50% SENIOR NOTES DUE 2012 
  

			
	REGISTERED	  	CUSIP: 693476 BD4
	No. 1	  	ISIN: US693476 BD43
		  	$250,000,000

 PNC FUNDING CORP, a corporation duly organized and existing under the laws of Pennsylvania (herein
called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal sum of Two-Hundred
and Fifty Million Dollars on September 28, 2012, and to pay interest thereon from September 28, 2007, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semiannually in arrears on
March 28 and September 28 of each year, commencing March 28, 2008, and at maturity, at the rate of 5.50% per annum, until the principal hereof is paid or made available for payment, and (to the extent that the payment of such
interest shall be legally enforceable) at the same rate per annum on any overdue principal and premium and on any overdue installment of interest. Interest shall accrue from September 28, 2007, to, but excluding the first Interest Payment Date
and then from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, to, but excluding, the next Interest Payment Date or the maturity date, as the case may be. Each of these periods is
referred to as an “interest period.” Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, subject to
certain exceptions, will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be
March 15 or September 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date. However, interest payable on the maturity date will be paid to the person to whom the principal will be
payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to holders of the Securities not less than 10 days prior to such Special
Record Date, or be paid at any time in any other lawful manner acceptable to the Trustee and not inconsistent with the requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such
exchange, all as more fully provided in said Indenture. 
 If an interest payment date or the maturity date for the Notes falls on a day that
is not a Business Day, the Company will postpone the interest payment or the payment of principal and interest at maturity to the next succeeding Business Day, but the payments made on such dates will be treated as being made on the date that the
payment was first due and the Holder will not be entitled to any further interest or other payments with respect to such postponements. 
 The term “Business Day” means any day except a Saturday, a Sunday or a legal holiday in the City of New York or the City of Pittsburgh on which banking institutions are authorized or obligated by law, regulation or executive order
to close. 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities” or
“Notes”), issued and to be issued in one or more series under an Indenture, dated as of December 1, 1991, among the Company, PNC Financial Corp (also known as “PNC Bank Corp.” and now known as “The PNC Financial
Services Group, Inc.”) (the 

 
“Guarantor”) and The Bank of New York (as successor to JPMorgan Chase Bank, N.A. and formerly known as The Chase Manhattan Bank and Chemical Bank,
successor by merger to Manufacturers Hanover Trust Company), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture) as amended by a Supplemental Indenture dated as of February 15, 1993
by and among the Company, the Guarantor and the Trustee, and as further amended by a Second Supplemental Indenture dated as of February 15, 2000 by and among the Company, the Guarantor and the Trustee (such Indenture as amended being herein
called the “Indenture”), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and
the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated above, initially issued in the aggregate principal amount of $250,000,000, and is
subject to additional issuances as the Company may determine or as provided for in the Indenture. 
 The Securities of this series are not
redeemable prior to their stated maturity and are not subject to any sinking fund. 
 The Notes are not convertible into, or exchangeable
for, equity securities of the Company or the Guarantor. If an Event of Default (as defined in the Indenture) with respect to the Securities shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner
and with the effect provided in the Indenture. 
 Unless the certificate of authentication hereon has been executed by the Trustee
hereinafter referred to, by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 The indebtedness of the Company evidenced by the Securities of this series, including the principal thereof and interest thereon, is, to the extent and in the manner set forth in the Indenture, senior in right of
payment to its obligations to holders of Subordinated Debt Securities and Existing Company Subordinated Indebtedness (each as defined in the Indenture) and shall rank pari passu in right of payment with each other and with Senior Company
Indebtedness (as defined in the Indenture), as provided in the Indenture, and each Holder of Securities, by the acceptance hereof, agrees to and shall be bound by such provisions of the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the
Company and the Guarantor and the rights of the holders of the Securities of any series under the Indenture at any time by the Company, the Guarantor and the Trustee with the consent of the holders of a majority in principal amount of the
outstanding Securities of all series (voting as one class) to be affected by such amendment or modification. The Indenture also contains provisions permitting the holders of specified percentages in principal amount of the Outstanding Securities of
any series, on behalf of the holders of all Securities of such series, to waive compliance by the Company or the Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the holder of this Security shall be conclusive and binding upon such holder and upon all future holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this Security. 
 No reference herein to the Indenture and no
provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency,
herein prescribed. 

 The Securities are issuable only in registered form without coupons in denominations of $1,000 and any
integral multiple thereof. This Security is a global security, represented by one or more permanent global certificates registered in the name of the nominee of The Depository Trust Company (each a “Global Note” and collectively, the
“Global Notes”). Accordingly, unless and until it is exchanged in whole or in part for individual certificates evidencing the Securities represented hereby, this Security may not be transferred except as a whole by The Depositary Trust
Company (the “Depositary”) to a nominee of such Depositary or by a nominee of such Depositary or by the Depositary or any nominee to a successor Depositary or any nominee of such successor. Ownership of beneficial interests in this
Security will be shown on, and the transfer of that ownership will be effected only through, records maintained by the applicable Depositary or its nominee (with respect to interest of persons that have accounts with the Depositary
(“Participants”) and the records of Participants (with respect to interests of persons other than Participants)). Beneficial interests in Securities by persons that hold through Participants will be evidenced only by, and transfers of such
beneficial interests with such Participants will be effected only through, records maintained by such Participants. The laws of some states require that certain purchasers of securities take physical delivery of such securities in definitive form.
Such limits and such laws may impair the ability to transfer beneficial interests in this Security. Except as provided below, owners of beneficial interests in this Security will not be entitled to have any individual certificates and will not be
considered the owners or Holders thereof under the Indenture. 
 Except in the limited circumstances set forth herein, Participants and
owners of beneficial interests in the Global Notes will not be entitled to receive Securities in definitive form and will not be considered holders of Securities. If the Depositary is at any time unwilling, unable or ineligible to continue as
Depositary and a successor Depositary is not appointed by the Company within 90 days, or an event of default has occurred and is continuing, and the Depositary requests the issuance of certificated notes, the Company will issue individual
certificates evidencing the Securities represented hereby in definitive form in exchange for this Security in registered form to each person that the Depositary identifies as the beneficial owner of the Securities represented by the Global Notes
upon surrender by the Depositary of the Global Notes. In addition, the Company may at any time and in its sole discretion determine not to have any Securities represented by one or more global securities and, in such event, will issue individual
certificates evidencing Securities in definitive form in exchange for this Security. In any such instance, an owner of a beneficial interest in a Security will be entitled to physical delivery in certificated form of Securities equal in principal
amount to such beneficial interest and to have such Securities registered in its name. Securities so issued in certificated form will be issued in denominations of $1,000 and any integral multiple thereof and will be issued in registered form only,
without coupons. Neither the Company nor the principal paying agent will be liable for any delay by the Depositary, its nominee or any direct or indirect participant in identifying the beneficial owners of the related Securities. The Company and the
principal payment agent may conclusively rely on, and will be protected in relying on, instructions from the Depositary or its nominee for all purposes, including with respect to the registration and delivery, and the respective principal amounts,
of the Securities to be issued. 
 Except as provided herein, beneficial owners of Global Notes will not be entitled to receive physical
delivery of Securities in definitive form and no Global Note will be exchangeable except for another Global Note of like denomination and tenor to be registered in the name of the Depositary or its nominee. Accordingly, each person owning a
beneficial interest in a Global Note must rely on the procedures of the Depositary and, if such person is not a Participant, on the procedures of the Participant through which such person owns its interest, to exercise any rights of a holder under
the Securities. 

 Beneficial interests in the Global Notes will be represented through book-entry accounts of financial
institutions acting on behalf of beneficial owners as direct and indirect participants in the Depositary. Investors may elect to hold interests in the Global Notes through the Depositary, either directly if they are Participants of such system or
indirectly through organizations that are Participants in such system. 
 The laws of some jurisdictions may require that purchasers of
securities take physical delivery of those securities in definitive form. Accordingly, the ability to transfer interests in the Securities represented by a Global Note to those persons may be limited. In addition, because the Depositary can act only
on behalf of its Participants, who in turn act on behalf of persons who hold interests through Participants, the ability of a person having an interest in Securities represented by a Global Note to pledge or transfer such interest to persons or
entities that do not participate in the Depositary’s system, or otherwise to take actions in respect of such interest, may be affected by the lack of a physical definitive security in respect of such interest. 
 Neither the Company, the Trustee, the principal paying agent nor any Security Registrar will have any responsibility or liability for any aspect of the
records relating to or payments made on account of Securities by the Depositary, or for maintaining, supervising or reviewing any records of the Depositary relating to the Securities. 
 The Bank of New York will act as the Company’s principal paying agent with respect to the Securities through its offices presently located at 101
Barclay Street-8W, New York, New York 10286. The Company may at any time rescind the designation of a paying agent, appoint a successor paying agent, or approve a change in the office through which any paying agent acts. Payments of interest and
principal may be made by wire-transfer in immediately available funds for Securities held in book-entry form or, at the Company’s option in the event the Securities are not represented by Global Notes, by check mailed to the address of the
person entitled to the payment as it appears in the Security register. Payment of principal will be made upon the surrender of the relevant Securities at the offices of the principal paying agent. 
 Notices to the holders of registered Securities will be mailed to them at their respective addresses in the register of the Securities and will be deemed
to have been given on the fourth weekday (being a day other than Saturday or Sunday) after the date of mailing. The Indenture contains provisions setting forth certain conditions to the institution of proceedings by the holders of Securities with
respect to the Indenture or for any remedy under the Indenture. 
 All terms used in this Security which are defined in the Indenture shall
have the meanings assigned to them in the Indenture. 
 — end of page — 
 [signatures appear on following page] 

 IN WITNESS WHEREOF, PNC Funding Corp has caused this Note to be signed in its name by its Chairman of the
Board, President or any Executive or Senior Vice President, and by its Secretary or an Assistant Secretary, or by facsimiles of any of their signatures, and its corporate seal, or a facsimile thereof, to be hereto affixed. 
 Dated: September 28, 2007 
  

			
	PNC FUNDING CORP
		
	By	 	/s/ Lisa M. Kovac
	Name:	 	Lisa M. Kovac
	Title:	 	Vice President

  

			
		
	 Attest:
	 	
	
	 /s/ George P. Long, III

	 Name:
	 	George P. Long, III
	 Title:
	 	Secretary
	
	[SEAL]

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	THE BANK OF NEW YORK
	 as Trustee

		
	 By
	 	 /s/ Francine Kincaid

		 	Authorized officer

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