Document:

Exhibit

EXHIBIT 4.2

EXCEPT AS OTHERWISE PROVIDED IN SECTION 2.16 OF THE MORTGAGE HEREINAFTER REFERRED TO, THIS BOND MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO THE DEPOSITORY, ANOTHER NOMINEE OF THE DEPOSITORY OR TO A SUCCESSOR DEPOSITORY OR TO A NOMINEE OF SUCH SUCCESSOR DEPOSITORY.
 
THIS BOND IS A GLOBAL SECURITY WITHIN THE MEANING OF THE MORTGAGE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY. THIS BOND IS EXCHANGEABLE FOR BONDS REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE MORTGAGE, AND NO TRANSFER OF THIS BOND (OTHER THAN A TRANSFER OF THIS BOND AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.
 
UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER ENTITY AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

PACIFICORP

      [•]% Series Due 20[•]      
(A Series of First Mortgage Bonds)

                                         
	
			
	 
	No.
	US $

	 
	Date:
	Cusip:

 
 
PACIFICORP, an Oregon corporation (the "Company"), for value received, hereby promises to pay to CEDE & CO. or registered assigns, on [•], at the office or agency of the Company in the Borough of Manhattan, The City of New York, the sum of [•] Dollars ($[•]), in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts, and to pay interest thereon from the [•] or [•] next preceding the date hereof, or if no interest has been paid on the bonds of this series, from [•], at the rate of [•] per centum ([•]%) per annum, in like coin or currency at such office or agency on [•] and [•] in each year (each, an "Interest Payment Date"), commencing [•], until the principal of this bond shall have been paid or duly provided for; provided that the interest so payable on any Interest Payment Date will, subject to certain exceptions set out in the [•] Supplemental Indenture (hereinafter mentioned), be paid to the person in whose name this bond (or any bond previously Outstanding in transfer or exchange for which this bond was issued) is registered on the Record Date next preceding such Interest Payment Date; provided, however, that interest payable upon maturity or earlier redemption will be payable to the person to whom principal is payable. So long as this bond remains in book-entry only form, the Record Date for each Interest Payment Date will be the close of business on the Business Day before the applicable Interest Payment Date, and, if this bond is not in book-entry only form, the Record Date for each Interest Payment Date will be the close of business on the [•] calendar day of the month immediately preceding the month of the Interest Payment Date (whether or not a Business Day).

"Business Day" means, for purposes of the preceding two paragraphs, a day other than (i) a Saturday or a Sunday, or (ii) a day on which banking institutions in The City of New York are authorized or obligated by law or executive order to remain closed. 
 
The amount of interest payable will be computed on the basis of a 360-day year consisting of twelve 30-day months. If any Interest Payment Date is not a Business Day, then payment of the interest payable on that date will be made on the next succeeding day which is a Business Day (and without any additional interest or other payment in respect of any delay), with the same force and effect as if made on such date.

 
1.            This bond is one of an issue of bonds of the Company issuable in series and is one of a series known as its First Mortgage Bonds, [•]% Series Due 20[•] to be issued under and equally secured by a Mortgage and Deed of Trust (herein, together with any indenture supplemental thereto, including the [•] Supplemental Indenture dated as of [•], the "Mortgage"), dated as of January 9, 1989 executed by the Company to Morgan Guaranty Trust Company of New York, as trustee (The Bank of New York Mellon Trust Company, N.A., as successor). Reference is made to the Mortgage for a description of the property mortgaged, and pledged, the nature and extent of the security, the rights of the holders of the bonds and of the Trustee in respect thereof, the duties and immunities of the Trustee and the terms and conditions upon which the bonds are, and are to be, secured, the circumstances under which additional bonds may be issued and the definitions of certain terms hereinafter used.
 
With the consent of the Company and to the extent permitted by and in the manner provided in the Mortgage, the rights and obligations of the Company and/or the rights of the holders of the bonds and/or coupons and/or the terms and provisions of the Mortgage may be modified or altered by affirmative vote of the holders of at least sixty per centum (60%) in principal amount of bonds then Outstanding under the Mortgage, all voting as a single class or, if the rights of the holders of one or more, but less than all, series of bonds then Outstanding are to be adversely affected, then by affirmative vote of the holders of at least sixty per centum (60%) principal amount of those bonds then Outstanding so to be adversely affected, all voting as a single class (excluding in any case bonds disqualified from voting by reason of the Company's interest therein as provided in the Mortgage); provided that no such modification or alteration shall, without the consent of the holder hereof, impair or affect the right of the holder to receive payment of the principal of (and premium, if any) and interest on this bond, on or after the respective due dates expressed herein, or to institute suit for the enforcement of any such payment on or after such respective dates, or permit the creation of and lien ranking equal or prior to the Lien of the Mortgage or deprive the bolder of the benefit of a lien on the Mortgaged and Pledged Property or reduce the percentage vote required to effect such modifications or alterations.
 
The Company has reserved the right, without any consent or other action by holders of bonds of the Ninth Series known as First Mortgage and Collateral Trust Bonds, Secured Medium-Term Notes, Series F, or any other series of bonds subsequently created under the Mortgage (including the bonds of this series), to amend the Mortgage in order to except from the Lien of the Mortgage allowances allocated to steam-electric generating plants owned by the Company, or in which the Company has interests, pursuant to Title IV of the Clean Air Act Amendments of 1990 as now in effect or as hereafter supplemented or amended.
 
2.            The principal hereof may be declared or may become due prior to the maturity date hereinbefore named on the conditions, in the manner and at the time set forth in the Mortgage, upon the occurrence of a Default as in the Mortgage provided.
 
3.            The bonds of this series are redeemable, in whole or in part, at any time and at the Company's option. Prior to  [•] (the “par call date”), the redemption price shall be equal to (A) the greater of: (i) one hundred per centum (100%) of the principal amount of bonds of this series then Outstanding to be redeemed, and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon that would be due if the bonds of this series matured on the par call date (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate, plus [•] basis points, as calculated by an Independent Investment Banker; plus (B) accrued and unpaid interest thereon to the date on which such bonds are to be redeemed (the "Redemption Date"). At any time on or after the par call date, the redemption price shall be equal to one hundred percent (100%) of the principal amount of bonds of this series then Outstanding to be redeemed, plus accrued and unpaid interest thereon to the Redemption Date. Unless the Company defaults in payment of the redemption price, on and after the Redemption Date interest will cease to accrue on the bonds of this series or portions thereof called for redemption.
 
For purposes of this Section 3:
 
"Business Day" means a day other than (i) a Saturday or a Sunday, or (ii) a day on which banking institutions in The City of New York are authorized or obligated by law or executive order to remain closed. 

"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 bonds of this series (assuming, for this purpose, that the bonds of this series matured on the par call date) to be redeemed 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 such bonds (the “Remaining Life”).

 
"Comparable Treasury Price" means, with respect to any Redemption Date, the Reference Treasury Dealer Quotation for such Redemption Date.
 
"Independent Investment Banker" means an investment banking institution of international standing appointed by the Company. 

"Reference Treasury Dealer" means a primary U.S. government securities dealer in New York City appointed by the Company. 

 "Reference Treasury Dealer Quotations" means, with respect to the Reference Treasury Dealer and any Redemption Date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount and quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m. on the third Business Day in New York City preceding such Redemption Date).

"Treasury Rate" means, as of a given Redemption Date, the rate per annum equal to the semi-annual equivalent or interpolated (on a daycount basis) 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 that Redemption Date.
 
The Company shall give the Trustee notice of the redemption price for any redemption occurring prior to the par call date immediately after the calculation thereof, and the Trustee shall have no responsibility for such calculation.
 
4.            This bond is transferable as prescribed in the Mortgage by the registered owner hereof in person, or by his, her or its duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York, upon surrender and cancellation of this bond, together with a written instrument of transfer, if required by the Company, duly executed by the registered owner or by his, her or its duly authorized attorney, and, thereupon, a new fully registered bond of the same series for a like principal amount will be issued to the transferee in exchange herefor as provided in the Mortgage. Subject to the foregoing provisions as to the person entitled to receive payment of interest hereon, the Company and the Trustee may deem and treat the person in whose name this bond is registered as the holder and the absolute owner hereof for the purpose of receiving payment and for all other purposes, and neither the Company nor the Trustee shall be affected by any notice to the contrary.

5.            In the manner prescribed in the Mortgage, any bonds of this series, upon surrender thereof for cancellation at the office or agency of the Company in the Borough of Manhattan, The City of New York, are exchangeable for a like aggregate principal amount of fully registered bonds of the same series of other authorized denominations.
 
6.            As provided in the Mortgage, the Company shall not be required to make transfers or exchanges of bonds of any series for a period of fifteen (15) days next preceding any designation of bonds of such series to be redeemed, and the Company shall not be required to make transfers or exchanges of any bonds designated in whole or in part for redemption.
 
7.            No recourse shall be had for the payment of the principal of, premium, if any, or interest on this bond against any incorporator or any past, present or future subscriber to the capital stock, shareholder, officer or director of the Company or of any predecessor or successor corporation, as such, either directly or through the Company or any predecessor or successor corporation, under any rule of law, statute or constitution or by the enforcement of any assessment or otherwise, all such liability of incorporators, subscribers, shareholders, officers and directors being released by the holder or owner hereof by the acceptance of this bond and being likewise waived and released by the terms of the Mortgage.
 
This bond shall not become obligatory until The Bank of New York Mellon Trust Company, N.A., a national banking association, the Trustee under the Mortgage, or its successor thereunder, shall have signed the form of authentication certificate endorsed hereon.
 
[Signature page follows]

IN WITNESS WHEREOF, PacifiCorp has caused this bond to be signed in its corporate name by its Chairman of the Board, President and Chief Executive Officer, or one of its Vice Presidents, by his or her signature or a facsimile thereof, and its corporate seal to be impressed or imprinted hereon and attested by its Secretary, or one of its Assistant Secretaries, by his or her signature or a facsimile thereof.
 
 

	
				
	 
	PACIFICORP
	 

	 
	 
	 
	 

	 Dated:  
	___________________________________
	 
	 

	 
	Name:
	 
	 

	 
	Title:
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	[SEAL]
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	 
	Attest: ___________________________________
	 
	 

	 
	Name:
	 
	 

	 
	Title:
	 
	 

	 
	 
	 
	 

	 TRUSTEE’S AUTHENTICATION CERTIFICATE

              This bond is one of the bonds of the series herein designated described or provided for in the within-mentioned Mortgage. 
	 
	 

	 
	 

	 
	 

	 

	 
	 
	 

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

	 
	As Trustee
	 

	 
	 
	 

	 
	___________________________________
	 

	 
	Authorized SignatoryExhibit 10(x)

    

     

    

    
      CRACKER BARREL OLD COUNTRY STORE, INC.

      and

      SUBSIDIARIES

      

      

      FY 2019 Annual Bonus
              Plan

      

      

      ARTICLE I

      General

      

      

      1.1        Establishment of the Plan.  Pursuant to the Cracker Barrel Old Country Store, Inc. 2010 Omnibus Stock and Incentive Plan ( the “Omnibus Plan”), the Compensation Committee (the “Committee”) of the Board of Directors of
          Cracker Barrel Old Country Store, Inc. (the “Company”) hereby establishes this FY 2019 Annual Bonus Plan (the “ABP”).

      

      

      1.2         Plan Purpose.  The purpose of this ABP is to specify appropriate opportunities to earn a bonus with respect to the Company’s 2019 fiscal year in order to reward officers of the Company and of its subsidiaries for the
          Company’s financial performance during fiscal year 2019 and to further align their interests with those of the shareholders of the Company.

      

      

      1.3         ABP Subject to Omnibus Plan.  This ABP is established pursuant to, and it comprises a part of, the Omnibus Plan. Accordingly, all of the terms of the Omnibus Plan are incorporated in this ABP by reference as if
          included verbatim. In case of a conflict between the terms and conditions of this ABP and the Omnibus Plan, the terms and conditions of the Omnibus Plan shall supersede this ABP and control the issue. It is intended that the ABP shall in all
          respects be subject to and governed by the provisions of the Omnibus Plan.

      

      

      ARTICLE II

      Definitions

      

      

      2.1         Omnibus Plan Definitions. Capitalized terms used in this ABP without definition have the meanings ascribed to them in the Omnibus Plan, unless otherwise expressly provided.

      

      

      2.2         Other Definitions. In addition to those terms defined in the Omnibus Plan and elsewhere in this ABP, whenever used in this ABP, the following terms have the meanings set forth below:

      

      

      
        
          	

                	(a)	
                  “Affiliate” means of any corporation, partnership, limited liability company, association, trust or other entity or organization that, directly or indirectly through one
                      or more intermediaries, controls, is controlled by, or is under common control with, the Company, and “control” has the meaning specified in Rule 405 under the Securities Act of 1933, as amended.

                

        

      

      

      

      
        
          	

                	(b)	
                  “Annual Bonus” means the Award to be paid to a Participant based on the Performance Curve after the Committee determines the level of 2019 Operating Income that was
                      achieved (or such lesser amount as the Committee may determine in its discretion).

                

        

      

      

      

      
        
          	

                	(c)	
                  “Employment Agreement” means (i) a written employment agreement (not including an offer letter) pursuant to which a Participant is employed by the Company or an
                      Affiliate, or (ii) a written agreement that governs the employment relationship between a Participant and the Company or an Affiliate in respect of a Change in Control or similar transaction affecting the Company.

                

        

      

      

      

      
        
          

      

      
      
        
          	

                	(d)	
                  “Operating Income” means operating income for a fiscal year of the Company as calculated consistent with past practice and presented in the audited financial statements
                      of the Company, subject to adjustment as follows: excluding (i) extraordinary gains or losses and the effects of any sale of assets (other than in the ordinary course of business), (ii) litigation claims, settlements and expenses,
                      (iii) the effects of any changes in accounting principles, (iv) the effects of any charges or expenses related to extraordinary, non-operational charges or expenses relating to stockholder demands, inquiries or events and related
                      governance and other responses, (v) the effects of charges or expenses related to an organizational restructuring of the Company or one or more Subsidiaries, (vi) the effects of charges or expenses related to any severance event,
                      (vii) any other income or expenses which the Committee, in its discretion, determines are exceptional in nature.

                

        

      

      

      

      
        
          	

                	(e)	
                  “Performance Curve” means the range of potential payouts of Annual Bonuses to Participants, expressed as a multiple of Target Bonus and based on the achievement of
                      various levels of 2019 Operating Income, as established and approved by the Committee by resolution with respect to the Performance Period.

                

        

      

      

      

      
        	 	
                (f)

              	
                “Performance Period” means the Company’s 2019 fiscal year.

              

      

      

      

      
        
          	

                	(g)	
                  “Target Bonus” means an Award equal to a percentage of a Participant’s applicable base salary, which percentage is established or approved by the Committee or its duly
                      authorized delegate within the Performance Period.

                

        

      

      

      

      
        
          	

                	(h)	
                  “Target Level” means the amount of 2019 Operating Income established by the Committee that needs to be achieved by the Company in order for Target Bonuses to be paid to
                      Participants under the Performance Curve.

                

        

      

      

      

      
        
          	

                	(i)	
                  “Threshold Level” means the minimum amount of 2019 Operating Income established by the Committee that needs to be achieved by the Company in order for Annual Bonuses to
                      be paid to Participants under the Performance Curve.

                

        

      

      

      

      ARTICLE III

      Eligibility; Calculation and Payment of Awards

      

      

      3.1       Plan Eligibility. The Participants in the ABP shall be those persons designated by the Committee or its authorized delegate.

      

      

      3.2        Calculation and Payment of Awards. After the close of the Performance Period, the Committee shall determine the achievement of 2019 Operating Income of at least the Threshold Level and the level of Annual Bonuses, if
          any, to be paid to Participants based on the Performance Curve.  The Committee shall expressly approve the amount of any payment of Annual Bonus to any Participant who is an executive officer of the Company. Any Annual Bonus payable to a
          Participant shall be paid in cash within a reasonable time after determination of the achievement of the Performance Goal by the Committee and, in any event, on or prior to March 15, 2020.

      

      

      3.3         Limitation.  In no event may any Participant receive an Annual Bonus that exceeds 200% of his or her Target Bonus.

      

      

      
        2

        
          

      

      ARTICLE IV

      Termination of Employment

      

      

      Except upon death or disability, if, prior to the certification of the Award as set forth in Section 3.2, a Participant’s employment
          is terminated or the Participant voluntarily resigns, all of the Participant’s rights to an Annual Bonus shall be forfeited. If a Participant’s employment is terminated because of a Participant’s death or disability, the Participant’s Annual
          Bonus shall be reduced to reflect only the period of employment prior to termination. The adjusted Award shall be based upon the number of days of employment during the Performance Period. In the case of a Participant’s disability, the employment
          termination shall be deemed to have occurred on the date the Committee determines that the disability has occurred, pursuant to the Company’s then-effective group long-term disability insurance benefit for officers. Any Annual Bonus thereafter
          determined by the Committee shall be payable at the time specified in Section 3.2.

      

      

      ARTICLE V

      Change in Control

      

      

      Subject to Section 7.1, if a Change in Control takes place during fiscal 2019, (i) the Target Level of 2019 Operating Income under the
          Performance Curve shall be deemed to have been met if the Company’s Operating Income through the end of the fiscal month preceding the Change in Control equals or exceeds 50% of the Company’s Operating Income for the comparable period in the 2018
          fiscal year, (ii) all Annual Bonuses established by the Committee shall be immediately payable in cash to Participants upon the date of the Change in Control (subject to any election previously made by a Participant to defer receipt of such
          Annual Bonus), and (iii) unless expressly terminated, this ABP shall continue in effect throughout the remainder of fiscal 2019 with the amount of any Annual Bonuses payable at the end of fiscal 2019 reduced by the amount of any Bonuses paid upon
          the Change in Control.

      

      

      ARTICLE VI

      Recoupment Policy

      

      

      6.1         General Recoupment Policy. The Company may recover any incentive compensation awarded or paid pursuant to this ABP based on (i) achievement of financial results that were subsequently the subject of a restatement due
          to material noncompliance with any financial reporting requirement under either GAAP or the federal securities laws, other than as a result of changes to accounting rules and regulations, or (ii) a subsequent finding that the financial
          information or performance metrics used by the Committee to determine the amount of the incentive compensation were materially inaccurate, in each case regardless of individual fault. In addition, the Company may recover any incentive
          compensation awarded or paid pursuant to this ABP based on a Participant’s conduct which is not in good faith and which materially disrupts, damages, impairs or interferes with the business of the Company and its affiliates. The provisions of
          this Article VI shall apply to any incentive compensation earned or paid to a Participant pursuant to this ABP. Subsequent changes in status, including retirement or termination of employment, do not affect the Company’s rights to recover
          compensation under this policy.

       

        

      6.2        Administration of Policy. The Committee will administer this policy and exercise its discretion and business judgment in the fair application of this policy based on the facts and circumstances as it deems relevant in
          its sole discretion. More specifically, the Committee shall determine in its discretion any appropriate amounts to recoup, the officers from whom such amounts shall be recouped (which need not be all officers who received the bonus compensation
          at issue) and the timing and form of recoupment; provided, that only compensation paid or settled within three years prior to the Committee taking action under this Article VI shall be subject to recoupment; provided further, that any recoupment
          pursuant to clause (i) or (ii) of the first sentence of this paragraph shall not exceed the portion of any applicable bonus paid hereunder that is in excess of the amount of performance-based or incentive compensation that would have been paid or
          granted based on the actual, restated financial statements or actual level of the applicable financial or performance metrics as determined by the Committee in its sole discretion. 

       

        

      
        3

        
          

      

      6.3        Setoff. For avoidance of doubt, the Company may set off the amounts of any such required recoupment against any amounts otherwise owed by the Company to a Participant as determined by the Committee in its sole
          discretion, solely to the extent any such offset complies with the requirements of Section 409A of the Code and the guidance issued thereunder.

      

      

      6.4        Other Adjustments. If any restatement of the Company’s financial results indicates that the Company should have made higher performance-based payments than those actually made under the ABP for a period affected by
          the restatement, then the Committee shall have discretion, but not the obligation to cause the Company to make appropriate incremental payments to affected Participants then-currently employed by the Company. The Committee will determine, in its
          sole discretion, the amount, form and timing of any such incremental payments, which shall be no more than the difference between the amount of performance-based compensation that was paid or awarded and the amount that would have been paid or
          granted based on the actual, restated financial statements.

      

      

      ARTICLE VII

      Employment Agreements

      

      

      7.1        Precedence of Employment Agreement.  In case of a conflict between the terms and conditions of this ABP and those of a Participant’s Employment Agreement(s) relating to the Annual Bonus covered hereby—including,
          without limitation, regarding the level at which the Annual Bonus shall be calculated, the effect of a termination of the Participant’s employment upon his or her rights with respect to the Annual Bonus or the payment of the Annual Bonus upon or
          following a Change in Control—the provisions of such Participant’s Employment Agreement(s) shall remain in full force and effect and shall supersede this ABP and control the issue with respect to such conflict.

    

  

  

   

  

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