0000950123-09-008368 Sample Contracts

INDENTURE among TELEFÓNICA EMISIONES, S.A.U., as Issuer, TELEFÓNICA, S.A., as Guarantor and The Bank of New York Mellon, as Trustee May 8, 2009
Indenture • May 8th, 2009 • Telefonica Emisiones, S.A.U. • Telephone communications (no radiotelephone) • New York

THIS INDENTURE, dated as of May 8, 2009, among Telefónica Emisiones, S.A.U., a sociedad anónima incorporated under the laws of the Kingdom of Spain (the “Issuer”), Telefónica, S.A., a sociedad anónima incorporated under the laws of the Kingdom of Spain (the “Guarantor”), and The Bank of New York Mellon, N.A., a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”);

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