Document:

EX-4.2

 Exhibit 4.2 

EXECUTION VERSION 
 EIGHTH
SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of November 13, 2013, is entered into by and among Navios Maritime Acquisition Corporation, a corporation organized under the laws of the Republic of the Marshall
Islands (the “Company”), Navios Acquisition Finance (US) Inc., a corporation organized under the laws of the State of Delaware (the “Co-Issuer” and, together with the Company, the “Co-Issuers”), the
Guarantors (as defined in the Indenture referred to herein) and Wells Fargo Bank, National Association (or its permitted successor) as trustee (the “Trustee”) and collateral trustee (the “Collateral Trustee”) under
the Indenture referred to below. 
 W I T N E S S E T H 

WHEREAS, the Co-Issuers have heretofore executed and delivered to the Trustee and the Collateral Trustee an indenture (as amended and
supplemented, the “Indenture”), dated as of October 21, 2010, providing for the issuance of 8 5⁄8% First Priority Ship Mortgage Notes due
2017 (the “Notes”); 
 WHEREAS, the Co-Issuers have offered to purchase for cash any and all of the outstanding Notes (the
“Tender Offer”) and requested that Holders of the Notes deliver their consents (the “Consents”) to eliminate substantially all of the restrictive covenants and modify or eliminate certain events of default contained
in the Indenture, and release the liens for the benefit of the Holders on the assets that secure the Notes, pursuant to the Offer to Purchase and Consent Solicitation Statement, dated October 29, 2013 (the “Statement”), and the
related Letter of Transmittal and Consent; 
 WHEREAS, (i) Section 9.02(a) of the Indenture provides that the Co-Issuers, the
Guarantors, the Trustee and the Collateral Trustee may amend or supplement certain of the provisions of the Indenture, the Notes and the Note Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of the then
outstanding Notes voting as a single class (including, consents obtained in connection with a purchase of, or tender offer for, Notes), and (ii) Section 9.02(c) of the Indenture provides that the Co-Issuers, the Guarantors, the Trustee and
the Collateral Trustee may (A) amend, change or modify in any material respect the obligation of the Co-Issuers to make and consummate a Collateral Sale Offer or an Event of Loss Offer or modify the provisions or definitions with respect
thereto or (B) release the Lien of the Collateral Trustee on behalf of the Trustee for the benefit of the Holders in any Collateral (other than by operation of the terms of the Indenture and the Security Documents) with the consent of the
Holders of at least 66 2⁄3% in aggregate principal amount of the then outstanding Notes voting as a single class (including, consents obtained in connection
with a purchase of, or tender offer for, Notes); 
 WHEREAS, (i) Holders of at least a majority in aggregate principal amount of the
Notes outstanding (determined as provided for by the Indenture) have duly consented in writing to the Proposed Indenture Amendments (as defined in the Statement) set forth in the Statement and this Supplemental Indenture in accordance with
Section 9.02(a) of the Indenture, (ii) Holders of at least 66 2⁄3% in aggregate principal amount of the Notes outstanding (determined as provided for
by the Indenture) have duly consented in writing to the Proposed Collateral Release Amendments (as defined in the Statement) set forth in the Statement and this Supplemental Indenture in accordance with Section 9.02(c) of the Indenture (the
Proposed Indenture 

 
Amendments and the Proposed Collateral Release Amendments are collectively referred to herein as the “Proposed Amendments”) and (iii) all other conditions precedent provided
under the Indenture to permit the Co-Issuers, the Guarantors, the Trustee and the Collateral Trustee to enter into this Supplemental Indenture have been satisfied, in each case, as certified by an Officers’ Certificate delivered to the Trustee
and the Collateral Trustee on the date hereof; 
 WHEREAS, this Supplemental Indenture shall be effective upon its execution by the
Co-Issuers, the Guarantors, the Trustee and the Collateral Trustee, and the amendments effected by this Supplemental Indenture shall become operative with respect to the Notes on the Initial Payment Date (as defined herein) in accordance with
Section 3 hereof; 
 WHEREAS, the Co-Issuers have requested the Trustee and the Collateral Trustee to join with them in entering into
this Supplemental Indenture for the purpose of amending the Indenture in accordance with the Proposed Amendments to eliminate substantially all of the restrictive covenants and modify or eliminate certain events of default contained in the
Indenture, and release the liens for the benefit of the Holders on the assets that secure the Notes, as permitted by clauses (a) and (c) of Section 9.02 of the Indenture; and 

WHEREAS, pursuant to Section 9.02 of the Indenture, the Trustee and the Collateral Trustee are authorized to execute and deliver this
Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of
which is hereby acknowledged, the Co-Issuers, the Guarantors, the Trustee and the Collateral Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

2. AMENDMENTS. 
 (a)
Amendment of Article 4. Subject to Section 3 hereof, the Indenture is hereby amended by deleting the following Sections of Article 4 of the Indenture and all references thereto: 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13,
4.14, 4.15, 4.16, 4.17, 4.18, 4.19, 4.21 and 4.22 in each case in its entirety, and replacing each such Section with the following: “INTENTIONALLY OMITTED.” 

(b) Amendment of Article 5. Subject to Section 3 hereof, the Indenture is hereby amended by (A) deleting the colon and the
“(1)” which precede the words “either: (a) the Company” in Section 5.01(a) of the Indenture, (B) deleting the semicolon and replacing it with a period at the end of current clause (1) of Section 5.01(a),
(C) deleting clause (2) and clause (3) of Section 5.01(a) of the Indenture, in each case in its entirety, (D) deleting the colon and the “(1)” which precede the words “subject to the Note Guarantee” in
Section 5.01(b) of the Indenture, (E) deleting the semicolon and the word “and” and replacing them with a period at the end of current clause (1) of Section 5.01(b) and (F) deleting clause (2) of
Section 5.01(b) of the Indenture in its entirety. 

  
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 (c) Amendment of Article 6. Subject to Section 3 hereof, the Indenture is hereby
amended by (A) deleting the following Sections of Article 6 of the Indenture and all references thereto: 6.01(3), 6.01(4), 6.01(5), 6.01(6), 6.01(7), 6.01(8) and 6.01(9) in each case in its entirety, and replacing each such Section with the
following: “INTENTIONALLY OMITTED.” and (B) deleting Section 6.01(10) and Section 6.01(11) in their entirety and replacing Section 6.01(10) and Section 6.01(11) with the following: 

“(10) a Co-Issuer as debtor in an involuntary case, pursuant to or within the meaning of any Bankruptcy law: 

(a) commences a voluntary case or proceeding, 

(b) consents to the entry of an order for relief or decree against it in an involuntary case or proceeding, 

(c) consents to the appointment of a Custodian of it or for all or substantially all of its assets, 

(d) makes a general assignment for the benefit of its creditors, 

(e) admits in writing its inability to pay its debts generally as they become due, or 

(f) files a petition or answer or consent seeking reorganization or relief; and 

(11) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(a) is for relief against a Co-Issuer as debtor in an involuntary case or proceeding; 

(b) appoints a Custodian of a Co-Issuer or a Custodian for all or substantially all of the assets of a Co-Issuer or adjudges
such entity bankrupt or insolvent or approves as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of such entity; or 

(c) orders the winding up or liquidation of a Co-Issuer; 

and the order or decree remains unstayed and in effect for 60 consecutive days.” 

(d) Amendment of Article 8. Subject to Section 3 hereof, the Indenture is hereby amended by adding the following to
Section 8.06 as the last paragraph: 
 “Notwithstanding anything in this Article Eight to the contrary, upon the
Co-Issuers’ written request, the Trustee may use amounts held in trust in connection with a satisfaction and discharge of the Indenture to pay all principal 

  
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and interest due to Holders who tender their Notes to the Co-Issuers for purchase before such Notes are paid in full at redemption or maturity, as the case may be, as long as the Co-Issuers
deliver to the Trustee an Officers’ Certificate stating that sufficient funds will remain in deposit to pay at redemption or maturity, as the case may be, all principal and interest due on Notes not tendered for purchase.” 

(e) Amendment of Article 11. Subject to Section 3 hereof, the Indenture is hereby amended by deleting Article 11 of the Indenture
in its entirety and all references thereto and replacing Article 11 with the following: “INTENTIONALLY OMITTED” and the Liens of the Collateral Trustee on behalf of the Trustee for the benefit of the Holders in any Collateral are hereby
released. 
 (f) Amendment of Notes. Subject to Section 3 hereof, any of the terms or provisions present in the Notes that
relate to any of the provisions of the Indenture as amended by this Supplemental Indenture shall also be amended, mutatis mutandis, so as to be consistent with the amendments made by this Supplemental Indenture. 

(g) Amendment of Definitions. Subject to Section 3 hereof, any defined terms present in the Indenture, the Notes or the Note
Guarantees but no longer used as a result of the amendments made by this Supplemental Indenture are hereby eliminated in the Indenture. The definition of any defined term used in the Indenture, the Notes or the Note Guarantees where such definition
is set forth in any of the sections or subsections of the Indenture that are eliminated by this Supplemental Indenture and the term it defines is still used elsewhere in the Indenture, the Notes or the Note Guarantees after the amendments hereby
become operative shall be deemed to become part of, and defined in, Section 1.01 of the Indenture. Such defined terms are to be in alphanumeric order within Section 1.01 of the Indenture. 

(h) Amendment of References. The Indenture and the Notes are hereby amended by deleting all references in the Indenture and the Notes
to those sections and subsections that are deleted as a result of the amendments made by this Supplemental Indenture. 
 3. EFFECT AND
OPERATION OF SUPPLEMENTAL INDENTURE. This Supplemental Indenture shall be effective and binding immediately upon its execution by the Co-Issuers, the Guarantors, the Trustee and the Collateral Trustee, and thereupon this Supplemental Indenture
shall form a part of the Indenture for all purposes, and every Note and Note Guarantee heretofore or hereafter authenticated and delivered under the Indenture shall be bound hereby; provided however, notwithstanding anything in the Indenture or this
Supplemental Indenture to the contrary, the amendments set forth in Section 2 of this Supplemental Indenture shall become operative only upon and simultaneously with, and shall have no force and effect prior to, the Co-Issuers’ acceptance
and initial payment for Notes validly tendered (and not validly withdrawn) pursuant to the Tender Offer and representing at least 66 2⁄3% in aggregate
principal amount of the then outstanding Notes (such date of payment, the “Initial Payment Date”). Prior to the time the Co-Issuers purchase any Notes pursuant to the Tender Offer, the Co-Issuers may terminate this Supplemental
Indenture upon written notice to the Trustee, including in connection with any termination or withdrawal of the Tender Offer or the solicitation of Consents with respect to the Proposed Amendments or if for any other reason the Notes are not
accepted for payment pursuant to the Tender Offer. If the Tender Offer is terminated or withdrawn, or the Co-Issuers 

  
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do not accept for purchase, and pay for, the Notes for any reason, this Supplemental Indenture shall not become operative. Except as modified and amended by this Supplemental Indenture, all
provisions of the Indenture and the Notes shall remain in full force and effect. 
 4. INDENTURE AND SUPPLEMENTAL INDENTURE CONSTRUED
TOGETHER. This Supplemental Indenture is an indenture supplemental to, and in implementation of, the Indenture, and the Indenture and this Supplemental Indenture shall henceforth be read and construed together. 

5. TRUST INDENTURE ACT CONTROLS. If any provision of the Indenture, as amended by this Supplemental Indenture, limits, qualifies or
conflicts with another provision which is required or deemed to be included in the Indenture, as amended by this Supplemental Indenture, by the Trust Indenture Act, such required or deemed provision of the Trust Indenture Act shall control. 

6. NO PERSONAL LIABILITY OF DIRECTORS, OFFICERS, EMPLOYEES AND STOCKHOLDERS. No past, present or future director, officer, employee,
incorporator or stockholder of the Co-Issuers or any Guarantor, as such, shall have any liability for any obligations of the Co-Issuers or such Guarantor under the Notes, the Note Guarantees, the Indenture, as amended by this Supplemental Indenture,
or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.

 7. NEW YORK LAW TO GOVERN. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT GIVING EFFECT TO CONFLICTS OF LAW PRINCIPLES TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

8. SEVERABILITY. In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 9.
COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

10. EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof. 

11. THE TRUSTEE AND COLLATERAL TRUSTEE. The Trustee and the Collateral Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Co-Issuers. 

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

			
	 NAVIOS MARITIME ACQUISITION CORPORATION

		
	By:	 	 /s/ Leonidas Korres

		 	Name: Leonidas Korres
		 	Title: Chief Financial Officer
	
	NAVIOS ACQUISITION FINANCE (US) INC.
		
	By:	 	 /s/ Vasiliki Papaefthymiou

		 	Name: Vasiliki Papaefthymiou
		 	Title: President/Secretary
	
	ALONNISOS SHIPPING CORPORATION
	AMINDRA NAVIGATION CO.
	ANTIKITHIRA SHIPPING CORPORATION
	ANTIPAXOS SHIPPING CORPORATION
	ANTIPSARA SHIPPING CORPORATION
	DONOUSSA SHIPPING CORPORATION
	FOLEGANDROS SHIPPING CORPORATION
	IRAKLIA SHIPPING CORPORATION
	KITHIRA SHIPPING CORPORATION
	LIMNOS SHIPPING CORPORATION
	MAKRONISOS SHIPPING CORPORATION
	OINOUSSES SHIPPING CORPORATION
	PAXOS SHIPPING CORPORATION
	PSARA SHIPPING CORPORATION
	SAMOTHRACE SHIPPING CORPORATION
	SCHINOUSA SHIPPING CORPORATION
	SERIFOS SHIPPING CORPORATION
	SIKINOS SHIPPING CORPORATION
	SKYROS SHIPPING CORPORATION
	THASOS SHIPPING CORPORATION
		 	as Guarantors
		
	By:	 	 /s/ Anna Kalathakis

		 	Name: Anna Kalathakis
		 	Title: Treasurer/Director

  
 [Signature Page to
Supplemental Indenture] 

 
			
	SHINYO DREAM LIMITED
	SHINYO KANNIKA LIMITED
	SHINYO KIERAN LIMITED
	SHINYO LOYALTY LIMITED
	SHINYO NAVIGATOR LIMITED
	SHINYO OCEAN LIMITED
	SHINYO SAOWALAK LIMITED
		 	as Guarantors
		
	By:	 	 /s/ Alexandros Laios

		 	Name: Alexandros Laios
		 	Title: Director
	
	AEGEAN SEA MARITIME HOLDINGS INC.
	AMORGOS SHIPPING CORPORATION
	ANDROS SHIPPING CORPORATION
	ANTIPAROS SHIPPING CORPORATION
	CRETE SHIPPING CORPORATION
	IKARIA SHIPPING CORPORATION
	IOS SHIPPING CORPORATION
	KOS SHIPPING CORPORATION
	MYTILENE SHIPPING CORPORATION
	RHODES SHIPPING CORPORATION
	SIFNOS SHIPPING CORPORATION
	SKIATHOS SHIPPING CORPORATION
	SKOPELOS SHIPPING CORPORATION
	SYROS SHIPPING CORPORATION
	THERA SHIPPING CORPORATION
	TINOS SHIPPING CORPORATION
		 	as Guarantors
		
	By:	 	 /s/ George Achniotis

		 	Name: George Achniotis
		 	Title: Director

  
 [Signature Page to
Supplemental Indenture] 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 as Trustee

		
	By:	 	 /s/ Martin Reed

		 	Name: Martin Reed
		 	Title: Vice President
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 as Collateral Trustee

		
	By:	 	 /s/ Martin Reed

		 	Name: Martin Reed
		 	Title: Vice President

  
 [Signature Page to
Supplemental Indenture]Restricted Stock Agreement

 Exhibit 10.1 

POWERSECURE INTERNATIONAL, INC. 

RESTRICTED STOCK AGREEMENT 

2008 Stock Incentive Plan 

This RESTRICTED STOCK AGREEMENT (this “Agreement”) is made to be effective as of the “Grant Date” set forth on the
Signature Page (the “Grant Date”) by and between PowerSecure International, Inc., a Delaware corporation (the “Company”), and the individual named as the “Grantee” in the attached Notice of Restricted
Stock Grant (the “Grantee”). 
 Recitals 

WHEREAS, the Company has adopted the PowerSecure International, Inc. 2008 Stock Incentive Plan (as amended and/or restated from time to time,
the “Plan”); and 
 WHEREAS, pursuant to the provisions of the Plan, the Board of Directors of the Company, acting directly
or through its Compensation Committee (the “Board”), has authorized a grant to the Grantee of shares of common stock, par value $.01 per share (the “Common Stock”), of the Company, subject to the restrictions and
upon the terms and conditions set forth in this Agreement; 
 Agreement 

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 
 1. Grant of Restricted Stock. Upon
the terms and subject to the conditions set forth in the Plan, this Agreement and the attached Notice of Restricted Grant, the Company hereby grants to the Grantee the number of shares of Common Stock (the “Restricted Stock” or the
“Restricted Shares”) set forth on the Signature Page. The Restricted Shares are subject to the terms and conditions set forth in the attached Notice of Restricted Stock Grant, this Agreement and the Plan, which is incorporated
herein by this reference. Unless otherwise defined herein, all terms defined in the Plan and used in this Agreement shall have the same respective meanings in this Agreement. The Grantee hereby agrees that all Restricted Shares are subject to, and
the Grantee hereby agrees to abide by, all terms and conditions set forth in the Plan, this Agreement and the attached Notice of Restricted Stock Grant, including but not limited to the restrictions on transfer set forth in Section 3 and the
forfeiture conditions set forth in Section 6. 
 2. Vesting of Restricted Shares. 

(a) Except as otherwise provided in this Agreement, the Restricted Shares shall vest, and the restrictions applicable thereto shall lapse, in
accordance with the vesting schedule contained in the attached Notice of Restricted Stock Grant (the “Vesting Schedule”), provided the Grantee remains continuously employed by or in the service of the Company from the Grant Date
through the “Vesting Date” specified in the Vesting Schedule. The number of Restricted Shares that shall vest on each Vesting Date shall be equal to the number of total Restricted Shares granted hereunder multiplied by the
applicable “Vesting Percentage” set forth in the Vesting Schedule. The Restricted Shares shall be fully vested, and the restrictions hereunder applicable to the Restricted Shares shall terminate, on the last Vesting Date set forth
in the Vesting Schedule. 

 (b) Restricted Shares that have become vested in accordance with the Vesting Schedule are
referred to herein as “Vested Shares”. Restricted Shares that have not become vested in accordance with the Vesting Schedule are referred to herein as “Unvested Shares”. 

(c) After any Restricted Shares become Vested Shares, the restrictions thereon as set forth in Section 3 shall lapse, and the Grantee may
Transfer (as defined below) any of the Vested Shares in the Grantee’s discretion. 
 3. Ownership of and Restrictions on Restricted
Shares. 
 (a) Ownership of Restricted Shares. Subject to the restrictions set forth in the Plan and this Agreement, the Grantee
shall possess all incidents of ownership, and be treated as the beneficial owner, of all of the Restricted Shares granted hereunder and shall have all the rights and privileges of a stockholder as to the Restricted Shares, including the right to
vote and to receive any dividends and other distributions with respect to the Restricted Shares. 
 (b) Restrictions. Notwithstanding
Section 3(a), the following restrictions shall apply to any Restricted Shares that are Unvested Shares: 
 (i) The Grantee shall not be
entitled to delivery of any certificates for Restricted Shares until the restrictions thereon have lapsed and such Restricted Shares have become Vested Shares in accordance with the Vesting Schedule without a forfeiture, and upon the satisfaction of
all other applicable conditions. 
 (ii) The Grantee shall not sell, assign, transfer (by gift or otherwise), pledge, hypothecate or
otherwise dispose of by operation of law or otherwise (“Transfer”), any Restricted Shares that are Unvested Shares, except as otherwise provided by this Agreement or the terms of the Plan. If any Transfer of Restricted Shares is
made or attempted to be made contrary to the terms of this Agreement, such Transfer or attempted Transfer shall be null and void and ineffectual and shall cause such Restricted Shares to be forfeited, and the Company shall have the right to acquire
for its own account, without the payment of any consideration therefor, such Restricted Shares from the owner thereof or his transferee, at any time before or after such prohibited Transfer. In addition to any other legal or equitable remedies it
may have, the Company may enforce its rights to specific performance to the extent permitted by law and may exercise such other equitable remedies then available to it. The Company may refuse for any purpose to recognize any transferee who receives
Restricted Shares contrary to the provisions of this Agreement as a stockholder of the Company and may retain and/or recover any and all dividends or other distributions on such Restricted Shares that were paid or payable subsequent to the date on
which the prohibited Transfer was made or attempted. 
 (iii) The Grantee shall deliver to the Company any and all shares of Common Stock or
other securities distributed as a dividend or distribution with respect to any Restricted Shares that do not become Vested Shares, upon a forfeiture of such Restricted Shares. 

4. Change In Control. In the event of a “Change in Control” (as defined in the Plan), subject to the applicable
restrictions set forth in the Plan, all Unvested Shares (not otherwise forfeited prior to the Change in Control) shall vest in full and become Vested Shares upon the date of such Change in Control. The rights of the Grantee in the event of a Change
in Control shall be governed by the provisions of the Plan. 

  
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 5. Adjustments in Common Stock. 

(a) In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other securities or other property),
recapitalization, forward or reverse stock split, reorganization, merger, consolidation, split-up, combination, spin-off, combination, repurchase, liquidation, dissolution, exchange of shares of Common Stock or other securities of the Company, or
other similar corporate transaction or event affects the shares of Common Stock such that an adjustment is necessary or determined by the Board to be appropriate in order to prevent dilution or enlargement of the Grantee’s rights under this
Agreement, then the Board shall proportionately adjust the number and kind of Restricted Shares. Any new, additional or different securities to which the Grantee shall be entitled in respect of Restricted Shares by reason of such adjustment shall be
deemed to be Restricted Shares and shall be subject to the same terms, conditions and restrictions as the Restricted Shares so adjusted. 

(b) The grant of Restricted Shares shall not affect in any way the right of the Company to adjust, reclassify, reorganize, or otherwise change
its capital stock or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 

6. Termination of Employment; Forfeiture of Unvested Shares. 

(a) Except as provided in Section 6(e) below, in the event the Grantee’s employment with the Company is terminated for any reason,
all rights of the Grantee with respect to Restricted Shares that are Unvested Shares shall terminate and be forfeited in their entirety as of the date of such termination of employment, and the Grantee shall immediately transfer and assign to the
Company, without the requirement of consideration, all such Restricted Shares that are Unvested Shares, which shall be promptly tendered to the Company by the delivery of the certificates, if any, for such Unvested Shares, endorsed in blank by the
Grantee or the Grantee’s representative or with stock powers attached thereto duly endorsed, at the Company’s principal executive offices, all in form suitable for the transfer of such Unvested Shares to the Company without the payment of
any consideration therefor by the Company. After the time at which any such Unvested Shares are required to be delivered to the Company for transfer to the Company, the Company shall not pay any dividends to the Grantee on account of such Unvested
Shares or permit the Grantee to exercise any of the privileges or rights of a stockholder with respect to such Unvested Shares, but shall, insofar as permitted by law, treat the Company as the owner of such Unvested Shares. However, the forfeiture
of any Restricted Shares shall not create any obligation to repay dividends received as to such Restricted Shares, nor shall such forfeiture invalidate any votes previously given by Grantee with respect to such Restricted Shares. 

(b) For purposes of this Agreement, the Grantee shall be deemed to be employed by the Company so long as the Grantee is an employee, director,
officer, consultant or advisor of the Company or any Subsidiary (as defined in the Plan) of the Company. In the event the Grantee ceases to be an employee of the Company in order to become an employee of any subsidiary of the Company, or the Grantee
ceases to be an employee of any such subsidiary in order to become an employee of the Company or of another subsidiary of the Company, then the Grantee shall be deemed to continue as an employee of the Company for all purposes of this Agreement.

  
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 (c) For purposes hereof, “Disability” shall have the same meaning as such term
is given in the Second Amended and Restated Employment Agreement, dated December 17, 2009, between the Company and Grantee (“Employment Agreement”). 

(d) The Board, in its discretion, may determine whether any leave of absence constitutes a termination of employment for purposes of this
Agreement. 
 (e) Notwithstanding the foregoing provisions of this Section 6 to the contrary: 

(i) In the event of Grantee’s death or Disability, any Unvested Shares shall vest and become Vested Shares such that the total number of
Vested Shares shall be equal to (x) the Number of Restricted Shares set forth on the Notice of Grant, multiplied by (y) a fraction, (I) the numerator of which shall be the total number of full months from the Grant Date through the
date of death or Disability, and (II) the denominator of which shall be 120. 
 (ii) In the event Grant’s employment is terminated by
the Company without Cause (as such term is defined in the Employment Agreement), then all Unvested Shares at such time shall vest in full and become Vested Shares. 

7. Certificates for Restricted Shares. 

(a) Reasonably promptly after the Grant Date, the Company shall cause one or more certificates representing the Restricted Shares to be
registered in the name of, and issued to, the Grantee. 
 (b) Each certificate for Restricted Shares shall bear a legend to substantially the
following effect: 
 “THE OWNERSHIP AND TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS
AND CONDITIONS (INCLUDING FORFEITURE) OF A RESTRICTED STOCK AGREEMENT BETWEEN POWERSECURE INTERNATIONAL, INC. AND THE REGISTERED OWNER OF THIS CERTIFICATE AND TO THE TERMS AND CONDITIONS OF THE POWERSECURE INTERNATIONAL, INC. 2008 STOCK INCENTIVE
PLAN, AS FROM TIME TO TIME AMENDED AND/OR RESTATED. COPIES OF THE RESTRICTED STOCK AGREEMENT AND THE PLAN ARE ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF THE COMPANY AND MAY BE OBTAINED UPON WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS
CERTIFICATE TO THE SECRETARY OF POWERSECURE INTERNATIONAL, INC. AT ITS PRINCIPAL EXECUTIVE OFFICES. ANY TRANSFER OF THIS CERTIFICATE OR THE SHARES REPRESENTED HEREBY IN CONTRAVENTION OF SUCH PLAN OR THE RESTRICTED STOCK AGREEMENT SHALL BE INVALID
AND INEFFECTIVE”. 
 In addition, the certificate or certificates for the Restricted Shares shall be subject to such stop transfer orders and other
restrictions as the Company may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange or stock market upon which the Common Stock is from time to time listed or traded, and
any applicable federal or states securities laws, and the Company may cause a legend or legends to be placed on such certificates or certificates to make appropriate references to such restrictions. 

  
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 (c) The Company may, in its sole discretion, require the Grantee to keep any certificates
representing Restricted Shares in the custody of the Company, so long as such Restricted Shares are subject to the restrictions set forth in Section 3 and are Unvested Shares. In such event, the Grantee agrees to deliver to the Company one or
more stock powers duly endorsed in blank relating to the Restricted Shares. 
 (d) After any Restricted Shares become Vested Shares in
accordance with the Vesting Schedule, and upon the satisfaction of all other applicable conditions to the Restricted Shares, including, but not limited to, the payment by the Grantee of all applicable withholding taxes, the Company shall deliver or
cause to be delivered to the Grantee (or his successor) one or more certificates representing such Restricted Shares without the legend referenced in Section 6(b) hereof, reasonably promptly after receiving a request by the Grantee (or his
successor). 
 8. Taxes. Upon the vesting of any portion of the Restricted Shares, or earlier if applicable due to tax elections by
the Grantee, the Grantee shall make arrangements satisfactory to the Company to make payment of the amount required under applicable federal, state and local income and other tax laws (collectively, “Taxes”). If the Grantee has not
made arrangements satisfactory to the Company to pay the Taxes, the Company shall withhold from the Vested Shares a number of Restricted Shares having a fair market value equal to the amount required to pay the minimum required Withholding Taxes.
The fair market value of the Restricted Shares to be withheld shall be calculated in accordance with the Plan. 
 9. Transferability of
Unvested Shares. Notwithstanding the restrictions on Transfer set forth in Section 3, the Grantee may Transfer any Unvested Shares in whole or in part as follows: 

(a) By will or the laws of descent and distribution; or 

(b) Pursuant to a Qualified Domestic Relations Order as defined under the Code or Title I of the Employee Retirement Income Security Act of
1974. 
 10. Plan As Controlling. The Restricted Shares are granted pursuant to, and this Agreement shall be interpreted in a manner
consistent with, the Plan. Any provision of this Agreement that is inconsistent or in conflict with any provision of the Plan shall be deemed to be superseded and governed by the provision of the Plan. All terms and conditions of the Plan applicable
to the Restricted Shares which are not set forth in this Agreement shall be deemed to be incorporated herein by this reference. Grantee acknowledges that he has received a copy of the Plan prior to executing this Agreement. 

11. Conflicts with Employment Agreement. In the event of any conflict or inconsistency with respect to the terms of the Restricted
Shares as set forth in this Agreement and any provision of the Employment Agreement, the terms of this Agreement shall be controlling and deemed to supersede the conflicting or inconsistent provision of the Employment Agreement. 

  
 5 

 12. No Right to Continued Employment. Nothing contained in the Plan or this Agreement
shall confer, and the grant of the Restricted Shares shall not be construed as conferring, upon the Grantee, any right to continue in the employ or service of the Company or any Subsidiary, or as interfering in any way with the right of the Company
or any Subsidiary of the Company to (a) terminate the Grantee’s employment or service at any time, or (b) increase or decrease the compensation of the Grantee from the rate in existence on the Grant Date. 

13. Compliance with Legal and Other Requirements. The Company may, to the extent deemed necessary or advisable by the Board, postpone
the issuance or delivery of Restricted Shares or other payment of other benefits under the Restricted Shares until completion of the registration or qualification of such Restricted Shares or other required action under any federal or state law,
rule or regulation, listing or other required action with respect to any national securities exchange, automated quotation system or any other stock exchange or stock market upon which the Common Stock or other securities of the Company are listed
or quoted, or compliance with any other obligation of the Company, as the Board may consider appropriate, and may require the Grantee to make such representations, furnish such information and comply with or be subject to such other conditions as it
may consider appropriate in connection with the issuance or delivery of the Restricted Shares or payment of other benefits in compliance with applicable laws, rules, regulations, listing requirements, or other applicable obligations. 

14. Miscellaneous. 
 (a)
Notices. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed given when sent by first class certified or registered mail, postage prepaid, return receipt requested, or by personal
delivery, addressed as follows: 
  

	 	(i)	If to the Company, at its principal executive offices; or 

  

	 	(ii)	If to the Grantee, at the address set forth on the Signature Page. 

 The addresses for such notices may be
changed from time to time by written notice given in the manner provided for herein. 
 (b) Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware, without regard to provisions governing conflicts of laws. 

(c) Entire Agreement. This Agreement (along with the Plan and the attached Notice of Restricted Stock Grant) constitutes the entire
agreement and understanding between the parties hereto regarding the subject matter hereof, and supersedes all prior written or oral agreements, understandings and communications between the parties related to the subject matter of this Agreement.

 (d) Amendment. This Agreement may be modified, amended or rescinded only by a written Agreement executed by all parties hereto.

  
 6 

 (e) Severability. If any provision of the Plan, this Agreement or the Restricted Shares is
or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction, or would disqualify the Plan, this Agreement or the Restricted Shares under any law, this Agreement and the Restricted Shares shall be deemed amended to conform to
applicable laws or, if it cannot be construed or deemed without, in the determination of the Board, materially altering the intent of the Agreement and the Restricted Shares, it shall be deleted and the remainder of the Agreement shall remain in
full force and effect. If any of the terms or provisions of this Agreement or the Restricted Shares conflict with the requirements of applicable law or applicable rules and regulations thereunder, including the requirements of Rule 16b-3, then such
terms or provisions shall be deemed inoperative to the extent necessary to avoid the conflict with applicable law, or applicable rules and regulations, without invalidating new remaining provisions hereof. 

(f) Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns, subject to the limitations set forth in Sections 3 and 9 hereof. 
 (g) Specific Performance and Remedies. The
rights of the parties under this Agreement are unique and, accordingly, the parties shall have the right to, in addition to any other remedies as may be available to any of them at law or in equity, to enforce their rights hereunder by actions for
specific performance in addition to any other legal or equitable remedies that they might have to the extent permitted by law. All rights and remedies of the Company and of the Grantee enumerated in this Agreement shall be accumulative, and, except
as expressly provided otherwise in this Agreement, none shall exclude any other rights or remedies allowed by law or in equity, and each of said rights or remedies may be exercised and enforced concurrently. 

(h) Waivers. Any of the provisions of this Agreement may be waived by an instrument in writing with the consent of the party or parties
whose rights are being waived. Any waiver of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach of that provision or of any other provision hereof. 

(i) Captions. The captions contained in this Agreement are included for convenience of reference only and do not define, limit, explain
or modify this Agreement or its interpretation, construction or meaning and are in no way to be construed as a part of this Agreement. 
 (j)
Construction. For purposes of this Agreement, the following rules of construction shall apply: (i) the word “or” is disjunctive but not necessarily exclusive; and (ii) the number and gender of each pronoun shall be
construed to be such number and gender as the context, circumstances or its antecedent may require. 
 * * * * * * * * * 

  
 7 

 POWERSECURE INTERNATIONAL, INC. 

NOTICE OF RESTRICTED STOCK GRANT 

Under The 
 2008 Stock
Incentive Plan 
  

			
		
	Name of Grantee:	  	Sidney Hinton
		
	Number of Restricted Shares:	  	275,000
		
	Grant Date:	  	December 5, 2013
		
	Vesting Schedule:	  	 ̈ 20% Per Year commencing on First Anniversary
		  	 ̈ 25% Per Year commencing on First Anniversary
		  	 ̈ 33 1/3% Per Year commencing on First Anniversary
		  	 ̈ 25% Per Quarter commencing on First Quarter
		  	 ̈ 100% Immediate
		  	 ̈ 20% Per Year commencing on Grant Date
		  	 ̈ 25% Per Year commencing on Grant Date
		  	 ̈ 33 1/3% Per Year commencing on Grant Date
		  	 ̈ Performance Vesting (See attached Vesting Schedule)
		  	x Other (See attached Vesting Schedule)

 By their execution of this Notice of Restricted Stock Grant, the Company and the Grantee agree that this
Restricted Shares are granted under and governed by the terms and conditions of the PowerSecure International, Inc. 2008 Stock Incentive Plan (as amended and restated from time to time) and the Restricted Stock Agreement attached to this Notice.

  

			
	POWERSECURE INTERNATIONAL, INC.
		
	By:	 	 /s/ Christopher T. Hutter

	Its:	 	Chief Financial Officer

  

	
	GRANTEE:
	
	 /s/ Sidney Hinton

	Signature
	  

	Street Address
	
	  

City                          
       State                                 
Zip Code

  

  
 8 

 Vesting Schedule 

 

					
	 Vesting Date(s) or Performance Condition(s)
	  	Vesting Percentage	 
	 Five (5) Years after the Grant Date
	  	 	50	% 
	 Ten (10) Years after the Grant Date
	  	 	100	% 

  
 9

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