Document:

EX-4.1

 Exhibit 4.1 
 SIERRA PACIFIC POWER COMPANY 
 d/b/a NV Energy 

OFFICER’S CERTIFICATE 
 August 15, 2013 
 I, the undersigned officer of Sierra Pacific Power Company
d/b/a NV Energy (the “Company”), do hereby certify that I am an Authorized Officer of the Company as such term is defined in the Indenture (as defined herein). I am delivering this certificate pursuant to the authority granted in
the Board Resolutions of the Company dated May 8-9, 2013, and Sections 1.04, 2.01, 3.01, 4.01(a) and 4.03(b)(i) of the General and Refunding Mortgage Indenture dated as of May 1, 2001, as heretofore amended and supplemented to the date
hereof (as heretofore amended and supplemented, the “Indenture”), between the Company and The Bank of New York Mellon Trust Company N.A. (successor as trustee to The Bank of New York Mellon, formerly The Bank of New York), as
Trustee (the “Trustee”). Section 1(u)(iii) of this Officer’s Certificate sets forth definitions of capitalized terms used herein. Terms used herein and not otherwise defined herein shall have the meanings assigned to them
in the Indenture. Based upon the foregoing, I hereby certify as follows: 
 1. The terms and conditions of the Securities
described in this Officer’s Certificate are as follows (the lettered subdivisions set forth in this Section 1 corresponding to the lettered subdivisions of Section 3.01 of the Indenture): 

(a) The Securities of the twentieth series to be issued under the Indenture shall be designated 3.375% General and Refunding Mortgage
Notes, Series T, due 2023 (the “Series T Notes”). 
 (b) There shall be no limit upon the aggregate principal amount of
the Series T Notes that may be authenticated and delivered under the Indenture. The Series T Notes shall be initially authenticated and delivered in the aggregate principal amount of $250,000,000. 

(c) Interest on the Series T Notes shall be payable to the Persons in whose names such Securities are registered at the close of business
on the Regular Record Date for such interest, except as otherwise expressly provided in the form of such Securities attached hereto as Exhibit A. 
 (d) The Series T Notes shall mature and the principal thereof shall be due and payable together with all accrued and unpaid interest thereon on August 15, 2023. 

(e) The Series T Notes shall bear interest at the rate, and such interest shall be payable at the times, provided in the form of such
Securities attached hereto as Exhibit A. 
 (f) The corporate trust agency office of The Bank of New York Mellon Trust
Company, N.A. at 101 Barclay Street in New York, New York 10286 shall be the place at which (i) the principal, interest and premium on the Series T Notes shall be payable, (ii) registration of transfer of the

 
Series T Notes may be effected, and (iii) exchanges of the Series T Notes may be effected. The Corporate Trust Office of the Bank of New York Mellon Trust Company, N.A., at 400 South Hope
Street, Suite 400, Los Angeles, California 90071 shall be the place where notices and demands to or upon the Company in respect of the Series T Notes and the Indenture may be served; and The Bank of New York Mellon Trust Company, N.A. shall be
the Paying Agent and Security Registrar for the Series T Notes; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such place or the Paying Agent and Security Registrar;
and provided, further, that the Company reserves the right to designate, by one or more Officer’s Certificates, its principal office in Reno, Nevada as any such place or itself or any of its Subsidiaries as the Security Registrar;
provided, however, that there shall be only a single Security Registrar for the Series T Notes. 
 (g) Optional
Redemption. 
 (i) Optional Redemption. At any time prior to May 15, 2023, the Company may redeem the
Series T Notes at its option, either in whole or in part, at a redemption price equal to the greater of (1) 100% of the principal amount of the Series T Notes being redeemed and (2) the sum of the present values of the remaining scheduled
payments of principal and interest on the Series T Notes being redeemed (excluding the portion of any such interest accrued to the date of redemption) discounted (for purposes of determining present value) to the redemption date on a semi-annual
basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 15 basis points, plus, in each case, accrued interest thereon to the date of redemption. 

At any time on or after May 15, 2023, the Company may redeem the Series T Notes at its option, in whole or in part,
at a redemption price equal to 100% of the principal amount of the Series T Notes being redeemed plus accrued interest thereon to the date of redemption. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Series T Notes
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 Series T Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the bid and
asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) on the third Business Day preceding such redemption date, as set forth in the daily statistical release (or any successor release)
published by the Federal Reserve Bank of New York and designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or (2) if such release (or any successor release) is not published or does not contain such prices on
such third Business Day, the Reference Treasury Dealer Quotation for such redemption date. 
 “Independent
Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

  
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 “Reference Treasury Dealer” means a primary U.S. Government
Securities Dealer selected by the Company. 
 “Reference Treasury Dealer Quotation” means, with respect
to the Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at or before 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

(ii) Notice of Redemption. Notices of redemption shall be mailed by first class mail at least 30 but not more than
60 days before the Redemption Date to each Holder of Series T Notes to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a Redemption Date if the notice is issued in connection with a
defeasance of the Series T Notes or a satisfaction and discharge of the Series T Notes under the Indenture. Notices of redemption may not be conditional. In lieu of the Redemption Price, any Notice of Redemption of the Series T Notes shall state the
manner of calculating the Redemption Price. 
 (iii) Selection of Series T Notes to be Redeemed. In
accordance with Section 5.03 of the Indenture, the following method is provided for the selection of Series T Notes to be redeemed and these procedures shall be followed by the Security Registrar in the event of a redemption of the Series T
Notes pursuant to the provisions of this Officer’s Certificate. If less than all of the Series T Notes are to be redeemed at any time, the Security Registrar shall select Series T Notes for redemption as follows: 

 

	 	(A)	if the Series T Notes are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange on which the
Series T Notes are listed; or 

  

	 	(B)	if the Series T Notes are not listed on any national securities exchange, on a pro rata basis, by lot or by such other method as the Trustee deems fair and appropriate.

 No Series T Notes of $2,000 principal amount or less can be redeemed in part. 

(h) Mandatory Redemption. The Company is not required to make mandatory redemption or sinking fund payments with respect to the
Series T Notes. 

  
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 (i) The Series T Notes are issuable only in denominations of $2,000 and integral multiples
of $1,000 in excess thereof. 
  

	 	(j)	Not applicable. 

  

	 	(k)	Not applicable. 

  

	 	(l)	Not applicable. 

  

	 	(m)	See subsection (e) above. 

  

	 	(n)	Not applicable. 

  

	 	(o)	Not applicable. 

  

	 	(p)	Not applicable. 

  

	 	(q)	Book-entry; Delivery and Form. 

 (i) Form and Dating. 
 The Series T Notes and the
Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. The Series T Notes may have notations, legends or endorsements required by law, securities exchange rule or usage. Each Series T Note shall
be dated the date of its authentication. The Series T Notes shall be in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 The terms and provisions contained in the Series T Notes shall constitute, and are hereby expressly made, a part of this Officer’s Certificate, and the Company, by its execution and delivery of this
Officer’s Certificate, expressly agrees to such terms and provisions and to be bound thereby. However, to the extent any provision of any Series T Note conflicts with the express provisions of this Officer’s Certificate or the Indenture,
the provisions of this Officer’s Certificate or the Indenture, as applicable, shall govern and be controlling. 
 Series T Notes shall be substantially in the form of Exhibit A attached hereto. Each Global Note shall represent such aggregate principal amount of the outstanding Series T Notes as shall be
specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Series T Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Series T Notes represented
thereby may from time to time be reduced to reflect exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any decrease in the aggregate principal amount of outstanding Series T Notes represented thereby shall be made
by the Trustee, the Depositary or the Note Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder thereof as required by Section 1(q)(iv) of this Officer’s Certificate. 

  
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 (ii) Authentication. 

The Trustee or an Authenticating Agent shall authenticate by delivery and execution of a Trustee’s Certificate of
Authentication in the form set forth in Section 2.02 of the Indenture (A) the Series T Notes for original issue on the Issue Date in the initial aggregate principal amount of $250,000,000 and (B) additional Series T Notes for original
issue from time to time after the Issue Date in such principal amounts as may be set forth in a Company Order, in each case, upon receipt of a Company Order, which Company Order shall specify (x) the amount of Series T Notes to be authenticated
and the date of original issue thereof and (y) the amount of Series T Notes to be issued in global form or definitive form. The aggregate principal amount of the Series T Notes outstanding at any time may not exceed $250,000,000 initially in
the form of Global Notes plus such additional principal amounts as may be issued and authenticated pursuant to clause (B) of this paragraph. 
 (iii) Security Registrar, Paying Agent and Depositary. 
 The
Company initially appoints the Trustee to act as the Security Registrar and Paying Agent for the Series T Notes. Upon the occurrence of an Event of Default set forth in Sections 10.01(d) or 10.01(e) of the Indenture, the Trustee shall serve as
Paying Agent for the Series T Notes. Pursuant to Section 6.02 of the Indenture, the Company hereby designates the corporate trust agency office of the Trustee as its office or agency at 101 Barclay Street in the City and State of New York where
payment of the Series T Notes shall be made and where the registration of transfer or exchange of the Series T Notes may be effected; and the Corporate Trust Office of the Trustee at 400 South Hope Street, Suite 400, Los Angeles, California 90071 as
the place and where notices and demands to or upon the Company in respect of the Series T Notes and the Indenture may be served. The Company may also from time to time designate one or more other offices or agencies with respect to the Series T
Notes and may from time to time rescind any of these designations in accordance with the terms provided in Section 6.02 of the Indenture. 
 The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Notes. The Trustee has been appointed by DTC to act as Note Custodian with
respect to the Global Notes. 
 None of the Company, the Trustee, nor any agent of the Company or the Trustee
shall have any duty or liability in respect of the transfer of beneficial interests in the Global Notes, for maintaining any records with respect to such beneficial interests or the payment of any amounts due in respect of such beneficial interest
or otherwise; and the Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Depositary, or its nominee, in whose name such Global Note is registered as Holder, as the absolute owner of such Notes for the purpose of
receiving payment of principal of and premium, if any, and interest on such Notes and for all other purposes whatsoever, whether or not such Notes be overdue, and neither the Company, the Trustee nor any agent of the Company of the Trustee shall be
affected by notice to the contrary. 
 (iv) Transfer and Exchange. 

(A) Transfer and Exchange of Global Notes. A Global Note may not be transferred except as a whole by the Depositary
to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes
shall be exchanged by the Company for Definitive Notes if: 
  

	 	(1)	the Company delivers to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary for the Global Notes or that it is no
longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Company within 90 days after the date of such notice from the Depositary; or 

  
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	 	(2)	the Company in its sole discretion notifies the Trustee in writing that it elects to cause issuance of the Series T Notes in certificated form.

 Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes shall be
issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 3.06 and 3.09 of the Indenture. Every Series T Note authenticated and delivered in
exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to Sections 3.06 and 3.09 of the Indenture, shall be authenticated and delivered as a Global Note in the form of Exhibit A attached hereto. A Global Note may not be
exchanged for another Series T Note other than as provided in this Section 1(q)(iv)(A); however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 1(q)(iv)(B) of this Officer’s Certificate.

 (B) Transfer and Exchange of Beneficial Interests in the Global Notes. The Company acknowledges that
the transfer and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance the Applicable Procedures. 
 (C) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this
Section 1(q)(iv)(C), the Security Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Security Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Security Registrar duly executed by such Holder or by his attorney, duly authorized in writing. 

(D) Legends. The following legend shall appear on the face of all Global Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Officer’s Certificate: 
 “THIS GLOBAL NOTE IS HELD
BY THE DEPOSITARY (AS DEFINED IN THE OFFICER’S CERTIFICATE UNDER THE INDENTURE GOVERNING THIS NOTE) 

  
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OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS
HEREON AS MAY BE REQUIRED PURSUANT TO ARTICLE III OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 1(q)(iv)(A) OF THE OFFICER’S CERTIFICATE UNDER THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 3.09 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY OR ANY SUCCESSOR THERETO.” 

Additionally, so long as DTC is the Depositary with respect to any Global Note, each such Global Note shall also bear a
legend in substantially the following form: 
 “UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY, TO THE COMPANY OR ANY SUCCESSOR THERETO 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 THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
 (E) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 3.09 of the Indenture. At any time prior to such cancellation, if
any beneficial interest in a Global Note is exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Series T Notes
represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note, by the Trustee, the Note Custodian or the Depositary at the direction of the Trustee, to reflect such reduction; and if the beneficial
interest is being exchanged for or transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such
Global Note, by the Trustee, the Note Custodian or by the Depositary at the direction of the Trustee, to reflect such increase. 

  
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 (F) General Provisions Relating to Transfers and Exchanges. To permit
registrations of transfers and exchanges, subject to Section 1(q)(iv) of this Officer’s Certificate, the Company shall execute and, upon the Company’s order, the Trustee or an Authenticating Agent shall authenticate Global Notes and
Definitive Notes at the Security Registrar’s request. 
 (v) Outstanding Series T Notes. 

Notwithstanding the definition of “Outstanding” in Section 1.01 of the Indenture, Series T Notes that the
Company, a Subsidiary of the Company or an Affiliate of the Company offers to purchase or acquires pursuant to an offer, exchange offer, tender offer or otherwise shall not be deemed to be owned by the Company, such Subsidiary or such Affiliate
until legal title to such Series T Notes passes to the Company, such Subsidiary or such Affiliate, as the case may be. 
  

	 	(r)	Not applicable. 

  

	 	(s)	Not applicable. 

  

	 	(t)	Not applicable. 

  

	 	(u)	Additional Conditions and Definitions. 

 (i) Additional Conditions to Section 9.01 of Indenture. 

Notwithstanding the provisions of Section 9.01 of the Indenture, no Series T Note shall be deemed to have been paid pursuant to such
provisions unless the Company shall have delivered to the Trustee either: (a) an Opinion of Counsel in the United States reasonably acceptable to the Trustee confirming that (i) the Company has received from, or there has been published by, the
Internal Revenue Service a ruling or (ii) since the date of this Officer’s Certificate, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, the Holders of the Outstanding Series T Notes will not recognize income, gain or loss for federal income tax purposes as a result of such satisfaction and discharge and will be subject to federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such satisfaction and discharge had not occurred; or (b) (i) an instrument wherein the Company, notwithstanding the satisfaction and discharge of the Company’s indebtedness in
respect of the Series T Notes, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee such additional sums of money, if any, or additional Eligible Obligations, if any, or any combination
thereof, at such time or times, as shall be necessary, together with the money and/or Eligible Obligations theretofore so deposited, 

  
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to pay when due the principal of and premium, if any, and interest due and to become due on such Series T Notes or portions thereof; and (ii) an Opinion of Counsel of tax counsel in
the United States reasonably acceptable to the Trustee to the effect that the Holders of the Outstanding Series T Notes will not recognize income, gain or loss for federal income tax purposes as a result of such satisfaction and discharge and will
be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such satisfaction and discharge had not occurred. 

(ii) Modifications Requiring Consent. 

In addition to the provisions of Section 14.02 of the Indenture, no supplemental indenture shall alter or waive any
of the provisions with respect to the redemption of the Series T Notes set forth in Section 1(g) hereof without the consent of each Holder of Series T Notes affected thereby. 

(iii) Certain Definitions. 
 Set forth below are certain defined terms used in this Officer’s Certificate. Reference is made to the Indenture for the definitions of any other capitalized terms used herein for which no definition
is provided herein. 
 “Affiliate” of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a
Person shall be deemed to be control. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary that apply to such transfer or exchange. 
 “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors. 

“Capital Stock” means: 

 

	 	(1)	in the case of a corporation, corporate stock; 

  
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	 	(2)	in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;

  

	 	(3)	in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and 

 

	 	(4)	any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing
Person. 

 “Definitive Note” means a certificated Series T Note registered in the
name of the Holder thereof and issued in accordance with Section 1(q)(iv) of this Officer’s Certificate, in the form of Exhibit A hereto except that such Series T Note shall not bear the Global Note Legend. 

“Depositary” means, with respect to the Series T Notes issuable or issued in whole or in part in global
form, the Person specified in Section 1(q)(iii) of this Officer’s Certificate as the Depositary with respect to the Series T Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the
applicable provision of this Officer’s Certificate or the Indenture. 
 “DTC” has the
meaning assigned to it in Section 1(q)(iii) of this Officer’s Certificate. 
 “Event of
Default” means an Event of Default as defined in the Indenture. 
 “Global Note Legend”
means the legend or legends set forth in Section 1(q)(iv)(D) of this Officer’s Certificate, which is or are required to be placed on Global Notes issued under this Officer’s Certificate. 

“Global Notes” means, individually and collectively, each of the Series T Notes issued or issuable in the
global form of Exhibit A hereto issued in accordance with Sections 1(q)(i) of this Officer’s Certificate, and that bears the Global Note Legend and that is deposited with or on behalf of and registered in the name of the Depositary.

 “Issue Date” means the first date on which any Series T Notes are issued, authenticated and
delivered under the Indenture and this Officer’s Certificate. 
 “Note Custodian” means the
Trustee, as custodian for the Depositary with respect to the Series T Notes in global form, or any successor entity thereto. 

  
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 “Subsidiary” means, with respect to any specified Person:

  

	 	(1)	any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person (or a combination thereof); and 

  

	 	(2)	any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general
partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

 “U.S.” means the United States of America. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the Board of such Person. 
 (v) The Series T Notes shall have such other terms and
provisions as are provided in the form thereof attached hereto as Exhibit A, and shall be issued in substantially such form. 
 2. The undersigned has read all of the covenants and conditions contained in the Indenture, and the definitions in the Indenture relating thereto, relating to the issuance of the Series T Notes and in
respect of compliance with which this certificate is made. 
 The statements contained in this certificate are based upon the
familiarity of the undersigned with the Indenture, the documents accompanying this certificate, and upon discussions by the undersigned with officers and employees of the Company familiar with the matters set forth herein. 

In the opinion of the undersigned, he has made such examination or investigation as is necessary to enable him to express an informed
opinion as to whether or not such covenants and conditions have been complied with. 
 In the opinion of the undersigned, such
conditions and covenants have been complied with. 

  
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 IN WITNESS WHEREOF, the undersigned has executed this Officer’s Certificate as
of the date first written above. 
  

			
		 	Jonathan S. Halkyard
		 	Executive Vice President and Chief Financial Officer

  

			
	Acknowledged and Received on August 15, 2013
	
	 THE BANK OF NEW YORK MELLON
 TRUST COMPANY, N.A.,
 as Trustee

		
	By:	 	 
	Name: Teresa Petta
	Title:   Vice President

 [Signature Page to Officer’s Certificate (Terms of Note)] 

 Exhibit A 

Form of Series T Notes 
 [Insert the Global Note Legend(s), if applicable, pursuant to the provisions of the Indenture and the Officer’s Certificate] 

SIERRA PACIFIC POWER COMPANY 
 3.375% General and Refunding Mortgage Notes, Series T, due 2023 
  

					
	Original Interest Accrual Date:	  	August 15, 2013	  	Redeemable: Yes X No     
	Stated Maturity:	  	August 15, 2023	  	Redemption Date: See Below
	Interest Rate:	  	3.375%	  	Redemption Price: See Below
	Interest Payment Dates:	  	February 15 and August 15	  	
	Regular Record Dates:	  	February 1 and August 1	  	

 The Security is not a Discount Security 

within the meaning of the within-mentioned Indenture. 

 
  

CUSIP No. 826418 BJ3 
 3.375% General and Refunding Mortgage Notes, Series T, due 2023 
  

			
	No. R-	  	$
                            

 Sierra Pacific Power Company d/b/a NV Energy, a Nevada corporation (the “Company”) promises to pay to
                     or registered assigns, the principal sum of
                     Dollars on August 15, 2023. 
 1. Interest. The Company promises to pay interest on the principal amount of this Series T Note at 3.375% per annum, from August 15, 2013 until maturity. The Company shall pay interest
semi-annually in arrears on February 15 and August 15 of each year, commencing February 15, 2014, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on
the Series T Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the Original Interest Accrual Date specified above; provided that if there is no existing default in the payment
of interest, and if this Series T Note is authenticated between a Regular Record Date specified above and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided,
further, that in the case of the initial interest payment in respect of this Series T Note, interest shall accrue from the Original Interest Accrual Date specified above. The Company shall pay interest (including postpetition interest in any
proceeding under the Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the rate borne on the Series T Notes; it shall pay interest (including post-petition interest in any proceeding under the Bankruptcy Law)
on overdue installments of interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.

  
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 2. Method of Payment. The Company shall pay interest on the Series T Notes (except
Defaulted Interest) to the Persons who are registered Holders of Series T Notes at the close of business on the February 1 and August 1 next preceding the Interest Payment Date, even if such Series T Notes are canceled after such Regular Record Date
and on or before such Interest Payment Date, except as provided in Section 3.07 of the Indenture with respect to Defaulted Interest. The Series T Notes shall be payable as to principal and premium and interest at the office or agency of the
Company maintained for such purpose within the City and State of New York, or, at the option of the Company, payment of interest may be made by check mailed to the Holders of Series T Notes at their addresses set forth in the register of Holders,
and provided that payment by wire transfer of immediately available funds shall be required with respect to principal of, and interest and premium on, all Global Notes and all other Series T Notes the Holders of which shall have provided wire
transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

3. Paying Agent and Security Registrar. Initially, The Bank of New York Mellon Trust Company, N.A. (successor as trustee to
The Bank of New York Mellon, formerly The Bank of New York), the Trustee under the Indenture, shall act as Paying Agent and Security Registrar. The Company may change any Paying Agent or Security Registrar without notice to any Holder of Series T
Notes. The Company or any of its Subsidiaries may act in any such capacity. 
 4. Indenture; Security. This
Series T Note is one of a duly authorized issue of Securities of the Company, issued and issuable in one or more series under and equally secured by a General and Refunding Mortgage Indenture, dated as of May 1, 2001 (such Indenture as
originally executed and delivered and as supplemented or amended from time to time thereafter, together with any constituent instruments establishing the terms of particular Securities, being herein called the “Indenture”), between
the Company and The Bank of New York Mellon Trust Company, N.A. (successor as trustee to The Bank of New York Mellon, formerly The Bank of New York), Trustee (herein called the “Trustee,” which term includes any successor Trustee
under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged, pledged and held in trust, the nature and extent of the security and the respective rights,
limitations of rights, duties and immunities of the Company, the Trustee and the Holders of the Securities thereunder and of the terms and conditions upon which the Securities are, and are to be, authenticated and delivered and secured. The
acceptance of this Series T Note shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms and provisions of the Indenture. This Series T Note is one of the series designated above. The terms of the Series T
Notes include those stated in the Indenture, including the Officer’s Certificate dated August 15, 2013 (the “Officer’s Certificate”), and those made part of the Indenture by reference to the Trust Indenture Act. The
Series T Notes are subject to all such terms, and Holders of Series T Notes are referred to the Indenture, including the Officer’s Certificate, and such Act for a statement of such terms. To the extent any provision of this Series T Note
conflicts  

  
 A-2

 
with the express provisions of the Indenture or the Officer’s Certificate, the provisions of the Indenture and the Officer’s Certificate shall govern and be controlling. The Series T
Notes are general obligations of the Company initially limited to $250,000,000 aggregate principal amount in the case of Series T Notes issued on the Issue Date. 
 All Outstanding Securities, including the Series T Notes, issued under the Indenture are secured by the lien of the Indenture on the properties of the Company described in the Indenture. 

5. Optional Redemption. 
 (i) At any time prior to May 15, 2023, the Company may redeem the Series T Notes at its option, either in whole or in part, at a redemption price equal to the greater of (1) 100% of the principal
amount of the Series T Notes being redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Series T Notes being redeemed (excluding the portion of any such interest accrued to the date
of redemption) discounted (for purposes of determining present value) to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 15 basis points, plus, in
each case, accrued interest thereon to the date of redemption. At any time on or after May 15, 2023, the Company may redeem the Series T Notes at its option, either in whole or in part, at a redemption price equal to 100% of the principal
amount of the Series T Notes being redeemed plus accrued interest thereon to the date of redemption. 

“Comparable Treasury Issue” means the United States Treasury security selected by an Independent
Investment Banker as having a maturity comparable to the remaining term of the Series T Notes 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 Series T Notes. 
 “Comparable Treasury Price”
means, with respect to any redemption date, (1) the average of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) on the third Business Day preceding such redemption date,
as set forth in the daily statistical release (or any successor release) published by the Federal Reserve Bank of New York and designated “Composite 3:30 p.m. Quotations for U.S. Government Securities” or (2) if such release (or any
successor release) is not published or does not contain such prices on such third Business Day, the Reference Treasury Dealer Quotation for such redemption date. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company.

 “Reference Treasury Dealer” means a primary U.S. Government Securities Dealer selected by the
Company. 

  
 A-3

 “Reference Treasury Dealer Quotation” means, with respect
to the Reference Treasury Dealer and any redemption date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Independent Investment Banker by such Reference Treasury Dealer at or before 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per year equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

6. Notice of Optional Redemption. Notice of optional redemption shall be mailed at least 30 days but not more than 60 days
before the Redemption Date to each Holder whose Series T Notes are to be redeemed at its registered address. Series T Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof. Notices
of redemption may not be conditional. On and after the redemption date, interest ceases to accrue on Series T Notes or portions thereof called for redemption. 
 7. Mandatory Redemption. The Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Series T Notes.  

8. Denominations, Transfer, Exchange. The Series T Notes are in registered form without coupons in denominations of $2,000
and integral multiples of $1,000 in excess thereof. The transfer of Series T Notes may be registered and Series T Notes may be exchanged as provided in the Indenture and the Officer’s Certificate. The Security Registrar and the Trustee may
require a Holder of Series T Notes, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder of Series T Notes to pay any taxes and fees required by law or permitted by the Indenture. The
Company need not exchange or register the transfer of any Series T Note or portion of a Series T Note selected for redemption, except for the unredeemed portion of any Series T Note being redeemed in part. Also, the Company need not exchange or
register the transfer of any Series T Notes for a period of 15 days before a selection of Series T Notes to be redeemed or during the period between a Regular Record Date and the corresponding Interest Payment Date. 

9. Persons Deemed Owners. The registered Holder of a Series T Note may be treated as its owner for all purposes.

 10. Amendment, Supplement and Waiver. The Indenture permits, with certain exceptions as therein provided, the
Trustee to enter into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in
aggregate principal amount of the Securities of all series then Outstanding under the Indenture,  

  
 A-4

 
considered as one class; provided, however, that if there shall be Securities of more than one Series outstanding under the Indenture and if a proposed supplemental indenture shall directly
affect the rights of the Holders of Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all series so directly affected,
considered as one class, shall be required; and provided, further, that if the Securities of any series shall have been issued in more than one Tranche and if the proposed supplemental indenture shall directly affect the rights of the Holders of
Securities of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly affected, considered as one class, shall be
required; and provided, further, that the Indenture permits the Trustee to enter into one or more supplemental indentures for limited purposes without the consent of any Holders of Securities. The Indenture also contains provisions permitting the
Holders of a majority in principal amount of the Securities then Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Series T Note shall be conclusive and binding upon such Holder and upon all future Holders of this Series T Note and of any Series T Note issued upon the registration of transfer
hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Series T Note. 
 11. Events of Default. If an Event of Default shall occur and be continuing, the principal of this Series T Note may be declared due and payable in the manner and with the effect provided in
the Indenture. 
 12. No Recourse Against Others. As provided in the Indenture, no recourse shall be had
for the payment of the principal of or premium, if any, or interest on any Securities, or any part thereof, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant
or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be incurred by, any incorporator, stockholder, officer or director, as such, past, present or future of the Company or of any predecessor or
successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it
being expressly agreed and understood that the Indenture and all the Securities are solely corporate obligations and that any such personal liability is hereby expressly waived and released as a condition of, and as part of the consideration for,
the execution of the Indenture and the issuance of the Securities. 
 13. Authentication. Unless the
certificate of authentication hereon has been executed by the Trustee or an Authenticating Agent by manual signature, this Series T Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

  
 A-5

 14. Transfer and Exchange. 

(a) As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Series T Note is registrable
in the Security Register, upon surrender of this Series T Note for registration of transfer at the corporate trust agency office of the The Bank of New York Mellon Trust Company, N.A. in New York, New York or such other office or agency as may be
designated by the Company from time to time, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Series T Notes of this series or authorized denominations and of like tenor and aggregate principal amount, will be issued to the designated transferee or transferees. 

(b) No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 (c) Prior to due presentment of
this Series T Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Series T Note is registered as the absolute owner hereof for all purposes, whether or not
this Series T Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 15. Governing Law. The Series T Notes shall be governed by and construed in accordance with the laws of the State of New York. 

16. Definition of Other Terms. All terms used in this Series T Note which are defined in the Indenture or the
Officer’s Certificate shall have the meanings assigned to them in the Indenture or the Officer’s Certificate, as applicable, unless otherwise indicated. 
 17. Abbreviations. Customary abbreviations may be used in the name of a Holder of Series T Notes or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 18. CUSIP Numbers. The Company has caused CUSIP numbers to be printed on the Series T Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders of
Series T Notes. No representation is made as to the accuracy of such numbers either as printed on the Series T Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.

  
 A-6

 The Company shall furnish to any Holder of Series T Notes upon written request and without
charge a copy of the Indenture. Requests may be made to: 
 Sierra Pacific Power Company 

d/b/a NV Energy 

P.O. Box 10100 (6100 Neil Road) 
 Reno, Nevada 89520 
 Attention: Chief Financial Officer 

  
 A-7

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

 

			
	SIERRA PACIFIC POWER COMPANY
	d/b/a NV Energy
		
	By: 	 	 
		 	

 CERTIFICATE OF AUTHENTICATION 

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

Dated:
                                 

 

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

	as Trustee
		
	By: 	 	 
		 	Authorized Signatory

  
 A-8

 Assignment Form 

To assign this Series T Note, fill in the form below: (I) or (we) assign and transfer this Series T 

Note to 
  

 
 (Insert assignee’s soc. sec.
or tax I.D. no.) 
  
  

 
  
  

 
  

 
 (Print or type assignee’s
name, address and zip code) 
 and irrevocably appoint
                                         
                                         
                                         
                                         
     to transfer this Series T Note on the books of the Company. The agent may substitute another to act for him. 
  

 
  

			
	Date:	  	 
	Your Signature:	  	  
	 	  	(Sign exactly as your name appears on the face of this Series T Note)

 SIGNATURE GUARANTEE 
  

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

  
 A-9EX-10.1

 Exhibit 10.1 
 REPURCHASE AGREEMENT 
 THIS REPURCHASE AGREEMENT (this
“Agreement”) is made and entered into as of August 14, 2013, by and between Universal Insurance Holdings, Inc., a Delaware corporation (the “Company”), and Norman M. Meier, an individual with an address at 934
S. Southlake Drive, Hollywood, Florida 33019 (“Seller”). 
 WHEREAS, Seller owns in the aggregate
241,933 shares of common stock of the Company, par value $0.01 per share (collectively, the “Shares”); 

WHEREAS, Seller desires to sell to the Company, and the Company desires to repurchase and redeem from Seller, the Shares, on the terms
and conditions set forth in this Agreement (the “Repurchase”); and 
 WHEREAS, Seller and the Company intend
the Repurchase to be an isolated transaction between them. 
 NOW, THEREFORE, for good and valuable consideration, the receipt,
adequacy and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Purchase and Sale.
Contemporaneously with the execution and delivery of this Agreement, Seller hereby sells, assigns and transfers to the Company, and the Company hereby purchases, accepts and acquires from Seller, the Shares in consideration of the payment by the
Company to Seller contemporaneously herewith of U.S. $1,831,190.87, by wire transfer of immediately available funds to Seller’s designated account (the “Purchase Price”). Seller shall deliver to the Company contemporaneously
herewith stock certificates representing such Shares (or evidence of transfer reasonably acceptable to the Company in the case of any Shares held in book-entry position), accompanied by stock powers and, subject to Section 6(h), bearing
or accompanied by all requisite stock transfer stamps. 
 2. Representations and Warranties of Seller. Seller hereby
represents and warrants to the Company as follows: 
 (a) Seller has full power and authority to execute and deliver this
Agreement and to perform Seller’s obligations hereunder. This Agreement has been duly authorized, executed, and delivered by Seller and constitutes the legal, valid, and binding obligation of Seller, enforceable against Seller in accordance
with its terms, subject to bankruptcy, insolvency, and general equitable principles. 
 (b) Seller is the holder of record or
beneficially owns all of the Shares. 
 (c) Upon (i) delivery to the Company of certificates representing the Shares, duly
endorsed by Seller for transfer to the Company, or (ii) confirmation reasonably acceptable to the Company of the transfer to the Company of any Shares held by Seller in book-entry position, and upon Seller’s receipt of payment therefor,
Seller will have transferred to the Company good and marketable title to the Shares, free and clear of all liens, encumbrances, claims of third parties, security interests, mortgages, pledges, agreements, options, warrants, rights of first refusal
and rights of others of any kind or nature whatsoever, whether or not filed, recorded or perfected. 

 (d) Seller is not a party to or subject to any suit or any administrative, arbitration or
other proceeding with respect to the Shares or any judgment, decree or order entered in any suit or proceeding brought by any governmental agency or other person enjoining or otherwise restraining or restricting Seller with respect to the Shares,
and, to the best of Seller’s knowledge, no such suit or proceeding is threatened against Seller. 
 (e) Other than any
required filings under U.S. securities laws, Seller is not required to give any notice to, make any filing with, or obtain any authorization, consent, or approval of any governmental or regulatory authority or any other person in order to consummate
any transfer of the Shares to the Company. The execution, delivery and performance of this Agreement by Seller will not violate, result in the breach of or constitute a default under any contract, instrument or other agreement to which Seller is
bound. To the best of Seller’s knowledge, Seller has in all material respects owned and held the Shares in accordance with all applicable laws and requirements of governmental authorities. 

(f) As the former Secretary and a former director of the Company, Seller was familiar with the condition (financial and otherwise),
properties, assets, liabilities, business operation and prospects of the Company as of February 22, 2013. Seller has such knowledge and experience in business and financial matters that Seller is capable of evaluating the merits and risks of
the Repurchase. 
 (g) Seller and his advisors have had an opportunity to ask questions of, and to receive information from, the
Company and persons acting on its behalf concerning the terms of this Agreement and the terms and conditions of the Repurchase as set forth herein. Seller participated in the drafting and negotiation of, has carefully read and is familiar with this
Agreement. Seller acknowledges that he has had an opportunity to consult with counsel and other advisors about this Agreement and the Repurchase. Seller has received no representations or warranties from the Company, its affiliates, employees,
agents or attorneys in making his decision to enter into this Agreement, other than as set forth herein. 
 3.
Representations and Warranties of the Company. The Company represents and warrants to Seller as follows: 
 (a) The
Company has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder and consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by the Company, and
constitutes the legal, valid, and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency, and general equitable principles. 

(b) The Company is the issuer of the Shares. 
 (c) Other than any required filings under U.S. securities laws, the Company is not required to give any notice to, make any filing with, or obtain any authorization, consent, or approval of any
governmental or regulatory authority or any other person in order to consummate the transfer of the Shares. The execution, delivery and performance of this Agreement by the Company will not violate, result in the breach of or constitute a default
under any contract, instrument or other agreement to which the Company is bound, or result in the violation of any provision of its charter, bylaws or similar organizational documents. 

  
 2 

 (d) The Company is not a party to or subject to any suit or any administrative, arbitration
or other proceeding or any judgment, decree or order entered in any suit or proceeding brought by any governmental agency or other person enjoining or otherwise restraining or restricting the Company with respect to the transactions contemplated
hereby, and, to the best of the Company’s knowledge, no such suit or proceeding is threatened against the Company. 
 4.
Termination and Survival. Notwithstanding anything to the contrary contained herein, this Agreement and the rights and obligations of the parties hereunder shall be deemed revoked, annulled, rescinded and of no force or effect (and any Shares
previously delivered to the Company shall be returned to Seller), if the Company shall have failed to deliver to Seller the Purchase Price within forty-eight (48) hours after the execution and delivery of this Agreement by the parties hereto.
All representations and warranties of Seller and the Company contained in this Agreement shall survive indefinitely to the extent this Agreement is not otherwise terminated in accordance with this Section 4. 

5. Dividends and Distributions. Seller shall be entitled to receive all dividends and distributions paid by the Company in respect
of the Shares to the extent the record date for such dividends and distributions is on or prior to the consummation of the related purchase and sale of such Shares hereunder. 
 6. Miscellaneous Provisions. 
 (a) Further Assurances. Each of the
parties hereto shall take, or cause to be taken, all action, and to do, or cause to be done, all things reasonably necessary, proper or advisable under applicable laws and existing agreements or otherwise reasonably required to be taken or done by
it to consummate the transactions contemplated hereby in accordance with the terms hereof and to more fully and effectively vest in the Company title to the Shares. To the extent Seller delivers to the Company one or more certificates representing
more than the number of Shares required to sold to the Company hereunder, the Company shall promptly issue replacement certificates to Seller representing the remaining number of Shares not otherwise sold to the Company, and the Company shall update
its stock ledger and other stock transfer records to reflect the issuance of such replacement certificates. 
 (b) Successors
and Assigns. This Agreement will be binding upon and inure to the benefit of the parties to this Agreement and the successors and assigns of the parties hereto; provided, however, that, no rights, obligations or liabilities
hereunder will be assignable by any party without the prior written consent of the other parties. 
 (c) No Third Party
Beneficiaries. This Agreement is not intended to confer any rights or remedies hereunder upon, and will not be enforceable by, any other person or entity, other than the parties to this Agreement. 

  
 3 

 (d) Controlling Law. This Agreement shall be governed by, construed and enforced in
accordance with the laws of the State of Delaware, without giving effect to the choice of law provisions thereof. 
 (e)
Entire Agreement; Amendments; Waiver. This Agreement constitutes the entire contract between the parties hereto pertaining to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, negotiations,
and discussions, whether written or oral, of the parties. There are no representations, warranties, or other agreements between the parties in connection with the subject matter hereof except as specifically set forth herein. No supplement,
modification or waiver of this Agreement shall be binding unless executed in writing by the parties to be bound thereby. Any agreement on the part of the parties to waive any term or provision of this Agreement shall be valid only if set forth in an
instrument in writing signed on behalf of the party against whom the waiver is to be effective. No such waiver shall constitute a waiver of, or estoppel with respect to, any subsequent or other inaccuracy, breach or failure to strictly comply with
the provisions of this Agreement. 
 (f) Counterparts. This Agreement may be executed in one or more counterparts,
including by facsimile or other electronic delivery, each of which shall be considered an original instrument, but all of which shall be considered one and the same agreement. 
 (g) Notices. All notices and other communications hereunder shall be in writing and shall be deemed given (i) upon delivery, if delivered in person, (ii) upon receipt of written
confirmation of transmission, if transmitted by facsimile or other electronic communication (with written confirmation and a copy of the notice or other communication mailed by express courier or certified or registered mail, return receipt
requested) or (iii) one (1) business day after it is sent, if delivered by an express courier (with written confirmation), to the parties at the following addresses: 

If to the Company: 
 Universal Insurance Holdings, Inc. 
 1110 West Commercial Boulevard

 Fort Lauderdale, Florida 33309 

Attention:          Stephen J. Donaghy 

Facsimile:         (954) 958-1201 

E-mail:               sdonaghy@universalproperty.com

 with a copy (which shall not constitute notice) to: 

K&L Gates LLP 
 1601 K Street, NW 
 Washington, DC 20006 

Attention:          Alan J. Berkeley 

Facsimile:         (202) 778-9100 

E-mail:               alan.berkeley@klgates.com

  
 4 

 If to Seller: 

Norman M. Meier 934 S. Southlake Drive 

Hollywood, Florida 33019 
 Facsimile:         (954) 926-1052 
 E-mail:               nmeier@pharmamatrix.com 

with a copy (which shall not constitute notice) to: 

Vedder Price P.C. 
 222 North LaSalle Street 
 Chicago, Illinois 60601 

Attention:          Michael A. Nemeroff 

Facsimile:         (312) 609-5005 

E-mail:               mnemeroff@vedderprice.com

 (h) Expenses. Except as otherwise provided herein, all costs and expenses incurred in connection with
this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and expenses. Seller and the Company shall pay their respective brokerage fees, commissions, and finder’s fees, if any, and shall indemnify
and hold the other party harmless from and against any and all other claims or liabilities for brokerage fees, commissions, and finder’s fees incurred by reason of any action taken by such party. Notwithstanding the foregoing, all transfer and
documentary taxes relating to the purchase and sale of the Shares hereunder shall be borne by the Company. 
 [Signatures follow
on the next page.] 

  
 5 

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

			
	UNIVERSAL INSURANCE HOLDINGS, INC.
		
	By:	 	/s/ Sean P. Downes
		 	 Name: Sean P. Downes
 Title:
President and Chief Executive Officer
  

	.
		
	By:	 	/s/ Norman M. Meier
		 	Norman M. Meier

  
 [N. Meier Repurchase
Agreement] 

  
 6

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