Document:

Form of Sixth Supplemental Indenture

 Exhibit 4.1 
 SIXTH SUPPLEMENTAL INDENTURE 
 among 
 VECTREN UTILITY HOLDINGS, INC., AS ISSUER 
 INDIANA GAS COMPANY, INC., AS GUARANTOR

 SOUTHERN INDIANA GAS AND ELECTRIC COMPANY, AS GUARANTOR 
 VECTREN ENERGY DELIVERY OF OHIO, INC., AS GUARANTOR 
 and 
 U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE 
 Dated March 10, 2008 
  

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 TABLE OF CONTENTS 
  

			
	 	  	Page
	 ARTICLE I DEFINITIONS
	  	3
	 SECTION 1.1. DEFINITION OF TERMS.
	  	3
	 ARTICLE II GENERAL TERMS AND CONDITIONS OF THE NOTES
	  	5
	 SECTION 2.1. DESIGNATION AND PRINCIPAL AMOUNT; GUARANTEES.
	  	5
	 SECTION 2.2. MATURITY.
	  	5
	 SECTION 2.3. FORM AND PAYMENT.
	  	5
	 SECTION 2.4. GLOBAL NOTE.
	  	6
	 SECTION 2.5. PAYMENT OF PRINCIPAL AND INTEREST.
	  	7
	 ARTICLE III REDEMPTION OF THE NOTES; DEFEASANCE
	  	8
	 SECTION 3.1. REDEMPTION AT THE COMPANY’S OPTION.
	  	8
	 SECTION 3.2. NO SINKING FUND.
	  	8
	 SECTION 3.3. DEFEASANCE.
	  	8
	 SECTION 3.4. REDEMPTION UPON DEATH OF A BENEFICIAL OWNER.
	  	8
	 ARTICLE IV MISCELLANEOUS
	  	11
	 SECTION 4.1. RATIFICATION OF INDENTURE.
	  	11
	 SECTION 4.2. TRUSTEE NOT RESPONSIBLE FOR RECITALS.
	  	12
	 SECTION 4.3. GOVERNING LAW.
	  	12
	 SECTION 4.4. SEPARABILITY.
	  	12
	 SECTION 4.5. COUNTERPARTS.
	  	12
	 SECTION 4.6. AMENDMENTS.
	  	12

  

			
	 EXHIBIT A -
	 	FORM OF NOTE
	 ANNEX A -
	 	FORM OF REDEMPTION REQUEST
	 EXHIBIT B -
	 	TRUSTEE’S CERTIFICATE OF AUTHENTICATION

  

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 SIXTH SUPPLEMENTAL INDENTURE, dated as of March 10, 2008 (the “Sixth Supplemental
Indenture”), among Vectren Utility Holdings, Inc., an Indiana corporation (the “Company”), Indiana Gas Company, Inc., an Indiana corporation and an Ohio corporation (“Indiana Gas”), Southern Indiana Gas and Electric Company,
an Indiana corporation (“SIGECO”) and Vectren Energy Delivery of Ohio, Inc., an Ohio corporation (“VEDO”, and together with Indiana Gas and SIGECO, the “Initial Guarantors”) and U.S. Bank National Association (the
“Trustee”). 
 WHEREAS, the Company and the Initial Guarantors executed and delivered the Indenture dated as of October 19,
2001 (the “Base Indenture”) to the Trustee to provide for the Company’s unsecured notes, debentures or other evidence of indebtedness of the Company (collectively, the “Securities”), and the Guarantees (as hereinafter
defined), to be issued from time to time in one or more series, as might be determined by the Company under the Base Indenture; 
 WHEREAS,
pursuant to the terms of the Base Indenture, the Company desires to provide for the establishment of a new series of Debt Securities, the 6.25% Senior Monthly Notes due 2039 (the “Notes”), and the unconditional guarantees by the Guarantors
(as defined herein) of the payment of the amounts owed with respect to the Notes (the “Guarantees”), the form and terms of such Notes and the terms, provisions and conditions of the Notes and the Guarantees to be set forth as provided in
the Base Indenture and this Sixth Supplemental Indenture (together, the “Indenture”); 
 WHEREAS, the Company and the Initial
Guarantors requested that the Trustee execute and deliver this Sixth Supplemental Indenture and all requirements necessary to make this Sixth Supplemental Indenture a valid, binding and enforceable instrument in accordance with its terms, and to
make the Notes, when executed, authenticated and delivered by the Company and with the Guarantees endorsed thereon and executed by the Guarantors, the valid, binding and enforceable obligations of the Company and the Guarantors, as applicable, have
been made: 
 NOW, THEREFORE, in consideration of the purchase and acceptance of the Notes by the Holders thereof, and for the purpose of
setting forth, as provided in the Base Indenture, the form and terms of the Notes, each of the Company and the Initial Guarantors, as applicable, covenants and agrees with the Trustee as follows: 
 ARTICLE I 
 DEFINITIONS

 SECTION 1.1. Definition of Terms. 
 (a) Unless the context otherwise requires: 
 (b) a term defined in the Base Indenture has the same meaning
when used in this Sixth Supplemental Indenture; 
 (c) a term defined anywhere in this Sixth Supplemental Indenture has the same meaning
throughout; 
  

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 (d) the singular includes the plural and vice versa; 
 (e) headings are for convenience of reference only and do not affect interpretation; 
 (f) the following terms have the meanings given to them in this Section 1.1(f): 
 “Beneficial Owner” has the meaning specified in Section 3.4. 
 “Fiscal Agent” means U.S. Bank Trust National Association, New York, New York, or its successor. 
 “Global Note” shall have the meaning set forth in Section 2.4. 
 “Guarantors” shall have the meaning specified in Section 2.1. 
 “Initial Period” has the meaning specified in Section 3.4. 
 “Interest Payment Date” means the first day of each calendar month, commencing April 1, 2008. 
 “Maturity Date” shall have the meaning specified in Section 2.2. 
 “Original Issue Date” means
March 10, 2008. 
 “Participants” shall have the meaning specified in Section 3.4. 
 “Quarterly Redemption Date” means January 1, April 1, July 1 and October 1 of each year, beginning July 1,
2008. 
 “Redemption Price” shall have the meaning specified in Section 3.1. 
 “Redemption Request” shall have the meaning specified in Section 3.4. 
 “Regular Record Date” means, with respect to any Interest Payment Date for the Notes, the close of business on the fifteenth day (whether or
not a Business Day) prior to such Interest Payment Date. 
 “Representatives” shall have the meaning specified in Section 3.4.

 “Subsequent Period” shall have the meaning specified in Section 3.4. 
 The following terms shall have the respective meanings set forth in the recitals to this Sixth Supplemental Indenture: 
  

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 “Base Indenture” 
 “Company” 
 “Guarantees” 
 “Indenture” 
 “Indiana
Gas” 
 “Initial Guarantors” 
 “Notes” 
 “Sixth Supplemental Indenture” 
 “Securities” 
 “SIGECO”

 “Trustee” 
 “VEDO” 
 ARTICLE II 
 GENERAL TERMS AND CONDITIONS OF THE NOTES 
 SECTION 2.1. Designation and Principal Amount;
Guarantees. 
 There is hereby authorized a new series of Securities, designated the 6.25% Senior Monthly Notes due 2039, limited (except
as otherwise provided in Article 2 of the Base Indenture) in aggregate principal amount to $125,000,000. The Notes may be issued from time to time upon written order of the Company for the authentication and delivery of Notes pursuant to
Section 2.03 of the Base Indenture. Each of the Initial Guarantors (together with each other subsidiary of the Company that pursuant to the terms of the Indenture guarantees the Company’s obligations under the Notes and the Indenture, the
“Guarantors”) fully and unconditionally and jointly and severally guarantees to the Holders of the Notes upon which the Guarantees are endorsed, upon authentication and delivery by the Trustee, the due and punctual payment of the principal
of, and interest on, and any Redemption Price with respect to, the Notes, when and as the same shall become due and payable, whether at the Maturity Date, upon acceleration or redemption or otherwise, in accordance with the terms of the Notes and of
the Indenture. 
 SECTION 2.2. Maturity. 
 The date upon which the principal on the Notes shall become due and payable at final maturity is April 1, 2039 (the “Maturity Date”) if not redeemed in full previously in accordance with Article III of
this Sixth Supplemental Indenture. 
 SECTION 2.3. Form and Payment. 
 The Notes shall be issued in fully registered certificated form without interest coupons, bearing identical terms (except as otherwise provided in Article
2 of the Base Indenture). Principal 

  

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of, and interest on, and any Redemption Price with respect to, the Notes will be payable, the transfer of such Notes will be registrable and such Notes will
be exchangeable for Notes bearing identical terms at the office or agency of the Company maintained for such purpose as described below. 
 The Company hereby designates the Borough of Manhattan, The City of New York as a place of payment (“Place of Payment”) for the Notes, and the office or agency maintained by the Company in such Place of Payment for the purposes
contemplated by this Section 2.3 shall initially be the Corporate Trust Office of the Trustee at 100 Wall Street, Suite 2000, New York, New York 10005, Attention: Richard Prokosch. 
 The Notes shall be issuable in denominations of $1,000 and integral multiples of $1,000 in excess thereof. 
 The Notes may be issued, in whole or in part, in permanent global form and, if issued in permanent global form, the Depository shall be The Depository
Trust Company or such other depositary as any officer of the Company may from time to time designate. 
 The Registrar, the Paying Agent and
the transfer agent for the Notes shall initially be the Trustee. 
 The Notes shall be in substantially the form set forth in Exhibit
A hereto. 
 SECTION 2.4. Global Note. 
 (a) Unless and until it is exchanged for Notes in registered certificated form, a global note in principal amount equal to the aggregate principal amount of the Notes (the “Global Note”) may be transferred,
in whole but not in part, only to the Depository or a nominee of the Depository, or to a successor Depository or to a nominee of such successor Depository. 
 (b) If at any time (i) the Depository notifies the Company that it is unwilling or unable to continue as a Depository for the Global Note and no successor Depository shall have been appointed within 90 days after
such notification, (ii) the Depository ceases to be a clearing agency registered under the Securities Exchange Act of 1934 or any other applicable rule or regulation and no successor Depository shall have been appointed within 90 days after the
Company becoming aware of the Depository’s ceasing to be so registered, (iii) the Company, in its sole discretion, determines that the Global Note shall be so exchangeable or (iv) there shall have occurred and be continuing an Event
of Default, the Company will execute, and, subject to Article 2 of the Base Indenture, the Trustee, upon written notice from the Company, will authenticate and deliver Notes, with the Guarantees endorsed thereon and executed by the Guarantors, in
registered certificated form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Note in exchange for such Global Note. Upon the exchange of the Global Note for such Notes in
registered certificated form without coupons, in authorized denominations, the Global Note shall be cancelled by the Trustee. Such Notes in registered certificated form issued in exchange for the Global Note shall be registered in such names and in
such authorized 

  

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denominations as the Depository, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee
shall deliver such Notes to the Depository for delivery to the Persons in whose names such Notes are so registered. 
 SECTION 2.5.
Payment of Principal and Interest. 
 The Notes shall bear interest at the per annum rate of 6.25%. 
 Interest shall be paid monthly in arrears on each Interest Payment Date commencing on April 1, 2008. Payments of interest on the Notes will include
interest accrued from, and including, the immediately preceding Interest Payment Date to which interest has been paid or duly provided for (or from, and including, the Original Issue Date if no interest has been paid or duly provided for) to, but
excluding, the applicable Interest Payment Date or date of earlier redemption, as the case may be. Interest payments for the Notes shall be computed and paid on the basis of a 360-day year consisting of twelve 30-day months. 
 The interest so payable and punctually paid or duly provided for on any Interest Payment Date will be paid to the Holder(s) of the Notes as of the
Regular Record Date for such Interest Payment Date. Any such interest that is not so punctually paid or duly provided for on any Interest Payment Date will forthwith cease to be payable to the Holders of the Notes as of the close of business on such
Regular Record Date and may either be paid to the Person or Persons in whose name such Notes are registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall
be given to Holders of the Notes by the Trustee not less than fifteen (15) days prior to such Special Record Date, or be paid at any time in any other lawful manner, all as more fully provided in the Base Indenture. 
 Payment of the principal of, and any interest (other than interest due on an Interest Payment Date) on, the Notes due on the Maturity Date or date of
earlier redemption, as the case may be, shall be made in immediately available funds, upon presentation and surrender of the applicable Notes at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of
New York, currently the office of the Trustee located at 100 Wall Street, Suite 2000, New York, New York 10005, or at such other paying agency in the Borough of Manhattan, The City of New York, as the Company may determine. Payment of interest due
on any Interest Payment Date will be made by wire transfer to the Holders entitled thereto of immediately available funds at such place and to such account at a banking institution in the United States as may be designated in wire transfer
instructions received in writing by the Trustee at least sixteen (16) days prior to such Interest Payment Date or, if not so received, by check mailed to the address of the applicable Holders in the Security Register. Any such wire transfer
instructions received by the Trustee shall remain in effect until revoked by such Holder. 
 Any payments on the Notes will be made 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. 
  

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 In the event that any Interest Payment Date or the Maturity Date or date of earlier redemption falls on a
day that is not a Business Day, the required payment of principal and/or interest payable on such date shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest
shall accrue with respect to such payment for the period from and after such Interest Payment Date or the Maturity Date or date of earlier redemption, as the case may be, to the date of such payment on the next succeeding Business Day. 

ARTICLE III 
 REDEMPTION OF THE
NOTES; DEFEASANCE 
 SECTION 3.1. Redemption at the Company’s Option. 
 The Notes shall be subject to redemption at the option of the Company, in whole at any time or in part from time to time, on or after April 1, 2013
at a price (the “Redemption Price”) equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to but excluding the applicable redemption date; provided, however, that interest payable on a Note with
respect to an Interest Payment Date that falls on or before such redemption date shall be made to the Holder thereof on the Regular Record Date related to such Interest Payment Date. 
 In the event of redemption of the Notes in part only, a new Note or Notes for the unredeemed portion will be issued in the name or names of the Holders
thereof upon the presentation and surrender thereof, as set forth in Section 3A.08 of the Base Indenture. 
 Notice of redemption shall
be given as provided in Section 3A.05 of the Base Indenture. 
 Any redemption of less than all of the Notes shall, with respect to the
principal thereof, be divisible by $1,000. 
 SECTION 3.2. No Sinking Fund. 
 The Notes are not subject to, or entitled to the benefit of, any sinking fund. 
 SECTION 3.3. Defeasance. 
 Article 8
of the Base Indenture describing Defeasance and Covenant Defeasance shall apply to the Notes. 
 SECTION 3.4. Redemption upon Death of a
Beneficial Owner. 
 Unless the Notes have been declared due and payable prior to the Maturity Date by reason of an Event of Default, or
have been previously redeemed or otherwise repaid in accordance with their terms, the Representative (as hereinafter defined) of a deceased Beneficial Owner (as hereinafter defined) of Notes has the right to request redemption prior to the Maturity
Date of all or part of such Notes, and the Company will redeem the same, subject to the limitations and conditions that the 

  

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Company will not be obligated to redeem, during the period from the Original Issue Date through and including April 1, 2009 (the “Initial
Period”), and, during any twelve-month period that ends on and includes each April 1 thereafter (each such twelve-month period being hereinafter referred to as a “Subsequent Period”), (i) Notes with an aggregate principal
amount in excess of $25,000 from the Representative of any deceased Beneficial Owner or (ii) Notes exceeding $2,500,000 in aggregate principal amount from the Representatives of all deceased Beneficial Owners. 
 The Company may, at its option, redeem any deceased Beneficial Owner’s Notes in the Initial Period or any Subsequent Period in excess of $25,000.
Any such redemption, to the extent that it exceeds the $25,000 limitation for the Representative of any deceased Beneficial Owner, shall not be included in the computation of the $2,500,000 limitation for the Representatives of all deceased
Beneficial Owners for the applicable period or for any succeeding Subsequent Period. The Company may, at its option, also redeem deceased Beneficial Owners’ Notes in the Initial Period or in any Subsequent Period in an aggregate principal
amount exceeding $2,500,000. Any such redemption, to the extent it exceeds the $2,500,000 limitation for the Representatives of all deceased Beneficial Owners, shall not reduce the $2,500,000 limitation for all such Representatives for the
applicable period or any Subsequent Period. On any determination by the Company to redeem Notes in excess of the $25,000 limitation for the Representative of any deceased Beneficial Owner or the $2,500,000 limitation for the Representatives of all
deceased Beneficial Owners, Notes so redeemed shall be redeemed in the order of the receipt of Redemption Requests (as hereinafter defined) by the Trustee. 
 A request for redemption of a Note may be initiated by the Representative of a deceased Beneficial Owner. For purposes of making a redemption request, the Representative of a deceased Beneficial Owner is any person
who is the personal representative of, or is otherwise authorized to represent, the estate of such deceased Beneficial Owner or the surviving joint tenant or tenant(s) by the entirety or the trustee of a trust (each, a “Representative”). A
Representative may initiate a request for redemption at any time. The Representative shall deliver its request to the Participant (as hereinafter defined) through whom the deceased Beneficial Owner owned the Note to be redeemed, in form satisfactory
to such Participant, together with evidence of the death of such Beneficial Owner, evidence of the authority of the Representative satisfactory to such Participant, any waivers, notices or certificates as may be required under applicable state or
federal law and any such other evidence of the right to such redemption as such Participant may require. The request must specify the principal amount of the Notes to be redeemed in denominations of $1,000 and integral multiples thereof. Subject to
the rules and arrangements applicable to the Depository, the Participant will thereupon deliver to the Depository a request for redemption substantially in the form attached to the Notes as Annex A (a “Redemption Request”). The Depository
will, upon receipt of a Redemption Request, forward the same to the Trustee. The Trustee shall maintain records with respect to Redemption Requests received by it, including the date of receipt, the name of the Participant filing the Redemption
Request and the status of each Redemption Request with respect to the $25,000 individual limitation and the $2,500,000 aggregate limitation. The Trustee will immediately file with the Company each Redemption Request it receives, together with the
information regarding the eligibility of the Redemption Request with respect to the $25,000 individual limitation and the $2,500,000 aggregate limitation. The Company, the Depository and the Trustee may conclusively 

  

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assume, without independent investigation or verification, that the statements contained in each Redemption Request are true and correct and shall have no
responsibility (a) for reviewing any documents submitted to the Participant by the Representative or (b) for determining whether the deceased person is in fact the Beneficial Owner of the Notes to be redeemed or is in fact deceased and
whether the Representative is duly authorized to request redemption on behalf of the applicable Beneficial Owner. 
 Subject to the $25,000
individual limitation and the $2,500,000 aggregate limitation, the Company will, after the death of any Beneficial Owner, redeem the Notes on the next Quarterly Redemption Date occurring not less than 30 days following receipt by the Company of a
Redemption Request from the Trustee. If a Redemption Request exceeds the $25,000 individual limitation, or if all Redemption Requests exceed the $2,500,000 aggregate limitation during the applicable period, then the excess Redemption Requests will
be applied in the order received by the Trustee to successive Subsequent Periods, regardless of the number of Subsequent Periods required to redeem the Notes to which such Redemption Requests relate. The Company may, at any time, notify the Trustee
that it will redeem, on the next Quarterly Redemption Date occurring not less than 30 days after that notice, all or any lesser amount of Notes for which Redemption Requests have been received but which are not then eligible for redemption by reason
of the $25,000 individual limitation or the $2,500,000 aggregate limitation. Any Notes so redeemed shall be redeemed in the order of receipt of Redemption Requests by the Trustee. 
 The price to be paid by the Company for the Notes to be redeemed pursuant to a Redemption Request is 100% of the principal amount of those Notes plus any
accrued but unpaid interest thereon to but excluding the applicable redemption date; provided, however, that interest payable on a Note with respect to an Interest Payment Date that falls on or before such redemption date shall be made to the Holder
of such Note on the Regular Record Date related to such Interest Payment Date. Subject to arrangements with the Depository, payment for the Notes to be redeemed shall be made to the Depository upon presentation of Notes to the Trustee for redemption
in the aggregate principal amount specified in the Redemption Requests submitted to the Trustee by the Depository which are to be fulfilled on that date. The principal amount of any Notes acquired or redeemed by the Company other than by redemption
at the option of any Representative of a deceased Beneficial Owner pursuant to this Section 3.4 shall not be included in the computation of either the $25,000 individual limitation or the $2,500,000 aggregate limitation for the Initial Period
or for any Subsequent Period. 
 For purposes of this section, a “Beneficial Owner” means the person who has the right to sell,
transfer or otherwise dispose of a Note and the right to receive the proceeds from that sale, as well as the interest thereon and principal thereof. In general, a determination of beneficial ownership in the Notes will be subject to the rules,
regulations and procedures governing the Depository and institutions (“Participants”) that have accounts with the Depository or a nominee thereof. 
 For purposes of this section, a Note held in tenancy by the entirety, joint tenancy or by tenants in common will be deemed to be held by a single Beneficial Owner, and the death of a tenant by the entirety, joint
tenant or tenant in common will be deemed the death of the Beneficial Owner of such 

  

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Note. The death of a person who, during his or her lifetime, was entitled to substantially all of the rights of a Beneficial Owner of a Note will be deemed
the death of the Beneficial Owner of such Note, regardless of the recordation of such ownership of such Note on the records of the Participant, if such rights can be established to the satisfaction of the Participant and the Company. 
 In the case of a Redemption Request that is presented on behalf of a deceased Beneficial Owner that has not been fulfilled at the time the Company gives
notice of its election to redeem the Notes pursuant to Section 3.1 hereof, the Notes that are the subject of such pending Redemption Request shall be redeemed prior to any other Notes pursuant to Section 3.1 hereof to the extent the
aggregate principal amount of such Notes does not exceed the aggregate principal amount of Notes the Company has elected to redeem pursuant to Section 3.1 hereof. 
 The Representative of a deceased Beneficial Owner of Notes may initiate the withdrawal of any Redemption Request by making a request therefor to the applicable Participant and requesting the Participant to request
that the Depository make a similar request to the Trustee not less than 60 days prior to the Quarterly Redemption Date on which such Notes are first eligible for redemption. The Company may, at its option, purchase any Notes for which Redemption
Requests have been received in lieu of redeeming such Notes. 
 During such time or times as the Notes are not represented by a Global
Security and are issued in certificated form, all references herein to Participants and the Depository, including the Depository’s governing rules, regulations and procedures, shall be deemed deleted, all determinations which under this Section
the Participants are required to make shall be made by the Company (including, without limitation, determining whether the applicable decedent is in fact the Beneficial Owner of a Note to be redeemed or is in fact deceased and whether the
Representative is duly authorized to request redemption on behalf of the applicable Beneficial Owner), and all Redemption Requests, to be effective, shall be delivered by the Representative to the Trustee, with a copy to the Company, and shall be in
the form of a Redemption Request (with appropriate changes mutually agreed to by the Trustee and the Company to reflect the fact that such Redemption Request is being executed by a Representative (including provision for signature guarantees)) and,
in addition to all documents that are otherwise required to accompany a Redemption Request, shall be accompanied by the Note that is the subject of such request and, if applicable, a properly executed assignment or endorsement. If the record
ownership of a Note is held by a nominee of the deceased Beneficial Owner, a certificate or letter from such nominee attesting to the deceased’s ownership of a beneficial interest in the Note must also be delivered. 
 ARTICLE IV 
 MISCELLANEOUS

 SECTION 4.1. Ratification of Indenture. 
 The Base Indenture, as supplemented by this Sixth Supplemental Indenture, is in all respects ratified and confirmed, and this Sixth Supplemental Indenture shall be deemed part of the Indenture in the manner and to the
extent herein and therein provided. 
  

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 SECTION 4.2. Trustee Not Responsible for Recitals. 
 The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The
Trustee makes no representation as to the validity or sufficiency of this Sixth Supplemental Indenture. 
 SECTION 4.3. Governing Law.

 This Sixth Supplemental Indenture and each Note issued hereunder shall be deemed to be contracts made under the internal laws of the State
of Indiana and for all purposes shall be governed by and construed in accordance with the laws of said State without regard to principles of conflicts of law. 
 SECTION 4.4. Separability. 
 In case any one or more of the provisions contained in this Sixth
Supplemental Indenture or in the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, then, to the extent permitted by law, such invalidity, illegality or unenforceability shall not affect any other provisions
of this Sixth Supplemental Indenture or of the Notes, but this Sixth Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein. 
 SECTION 4.5. Counterparts. 
 This
Sixth Supplemental Indenture may be simultaneously executed in any number of counterparts, each of which when so executed shall be an original, and all such counterparts shall together constitute but one and the same instrument. 
 SECTION 4.6. Amendments. 
 Notwithstanding any other provision hereof, all amendments to the Base Indenture made hereby shall have effect only with respect to the Notes, and not with respect to the Securities of any other series created prior to or subsequent to the
date hereof. 
 [signature page follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Sixth Supplemental Indenture to be duly executed
by their respective officers thereunto duly authorized, on the date or dates indicated in the acknowledgments and as of the day and year first above written. 
  

			
	 VECTREN UTILITY HOLDINGS, INC.
 as Issuer

		
	 By:
	 	  

		 	Jerome A. Benkert, Jr.
		 	Executive Vice President and Chief Financial Officer

 Attest: 
  

			
	 By:
	 	  

		 	Ronald E. Christian
		 	Executive Vice President, Chief Administrative Officer and Secretary

  

			
	 INDIANA GAS COMPANY, INC.
 as Initial Guarantor

		
	 By:
	 	  

		 	Jerome A. Benkert, Jr.
		 	Executive Vice President and Chief Financial Officer

 Attest: 
  

			
	 By:
	 	  

		 	Ronald E. Christian
		 	Executive Vice President, Chief Administrative Officer and Secretary

  

			
	 SOUTHERN INDIANA GAS AND ELECTRIC COMPANY
 as Initial Guarantor

		
	 By:
	 	  

		 	Jerome A. Benkert, Jr.
		 	Executive Vice President and Chief Financial Officer

 Sixth Supplemental Indenture 
  

 13 

 Attest: 
  

			
	 By:
	 	  

		 	Ronald E. Christian
		 	Executive Vice President, Chief Administrative Officer and Secretary

  

			
	 VECTREN ENERGY DELIVERY OF OHIO, INC.,
 as Initial Guarantor

		
	 By:
	 	  

		 	Jerome A. Benkert, Jr.
		 	Executive Vice President and Chief Financial Officer

 Attest: 
  

			
	 By:
	 	  

		 	Ronald E. Christian
		 	Executive Vice President, Chief Administrative Officer and Secretary

  

			
	 U.S. BANK NATIONAL ASSOCIATION,

	 as Trustee

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 Attest: 
  

			
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 Sixth Supplemental Indenture 
  

 14 

 Exhibit A 
 [Form of Face of Note] 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (“DTC”), 55 WATER STREET, NEW YORK, NEW YORK, TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND SUCH SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH OTHER
NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 UNLESS IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO
A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR. 
 VECTREN UTILITY HOLDINGS, INC. 
 6.25% Senior Monthly Note due 2039 
  

					
	 RATE OF INTEREST
	  	 STATED MATURITY DATE
	  	 ORIGINAL ISSUE DATE

	6.25%	  	April 1, 2039	  	March 10, 2008
			
	Registered No. 1	  		  	CUSIP No. 92239M AJ 0

 Vectren Utility Holdings, Inc., a corporation duly organized and existing under the laws of the
State of Indiana (herein called the “Company”), for value received, hereby promises to pay, without relief from valuation or appraisement laws, to Cede & Co. or registered assigns, the principal sum of $125,000,000 on the Stated
Maturity Date shown above or any earlier date of redemption in accordance with the provisions on the reverse hereof (each such date shall be referred to herein as the “Stated Maturity Date” with respect to the principal payable on such
date), and to pay interest on the outstanding principal of this Note, at the annual Rate of Interest shown above, from the Original Issue Date shown above or from the most recent Interest Payment Date (as hereinafter defined) to which interest has
been paid or duly provided for, monthly in arrears on the first day of each calendar month (the “Interest Payment Date”) commencing April 1, 2008, and on any earlier date of redemption, as the case may be. 
 The interest so payable and punctually paid or duly provided for on any Interest Payment Date will be paid to the Holder of this Note as of the Regular
Record Date for such Interest Payment Date. Any such interest that is not so punctually paid or duly provided for on any Interest Payment 

  

 15 

 
Date will forthwith cease to be payable to the Holders of this Note as of the close of business on such Regular Record Date and may either be paid to the
Person or Persons in whose name this Note is registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee referred to on the reverse hereof, notice whereof shall be given to
Holders of the Notes by the Trustee not less than fifteen (15) calendar days prior to such Special Record Date, or be paid at any time in any other lawful manner, all as more fully provided in the Indenture referred to on the reverse hereof.

 Interest payable on this Note on any Interest Payment Date and on any earlier date of redemption, as the case may be, will be the amount
of interest accrued during the applicable Interest Period (as defined below) computed on the basis of a 360-day year of twelve 30-day months. 
 An “Interest Period” is each period from and including the immediately preceding Interest Payment Date to which interest has been paid or duly provided for (or from and including the Original Issue Date in the case of the initial
Interest Period) to but excluding the applicable Interest Payment Date or the Stated Maturity Date, as the case may be. If any Interest Payment Date or Stated Maturity Date falls on a day that is not a Business Day, principal and/or interest payable
on such date will be paid on the succeeding Business Day with the same force and effect as if it were paid on the date such payment was due, and no interest will accrue on the amount so payable for the period from and after such date to such
succeeding Business Day. “Business Day” means any day other than a Saturday, Sunday, or other day on which commercial banks are authorized or required by law, regulation or executive order to close in The City of New York. 
 Payment of the principal of, and any interest (other than interest due on an Interest Payment Date) on, this Note due on the Stated Maturity Date shall
be made in immediately available funds, upon presentation and surrender of this Note at the office or agency maintained by the Company for that purpose in the Borough of Manhattan, The City of New York, currently the office of the Trustee located at
100 Wall Street, Suite 2000, New York, New York 10005, or at such other paying agency in the Borough of Manhattan, The City of New York, as the Company may determine. Notwithstanding the foregoing, payment of interest due on this Note on any
Interest Payment Date will be made by wire transfer to the Holders entitled thereto of immediately available funds at such place and to such account at a banking institution in the United States as may be designated in wire transfer instructions
received in writing by the Trustee at least sixteen (16) days prior to such Interest Payment Date. Any such wire transfer instructions received by the Trustee shall remain in effect until revoked by such Holder. 
 Any payments on this Note will be made 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. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 The form of the Trustee’s Certificate of
Authentication for the Notes shall be in substantially the form set forth in Exhibit B hereto. 
  

 16 

 Unless the Certificate of Authentication has been executed by the Trustee by manual signature, this Note
shall not be entitled to any benefit under the Indenture or the Guarantees (as defined on the reverse hereof) or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, Vectren Utility Holdings, Inc. has caused this Note to be executed by two of its duly authorized officers. 
  

			
	VECTREN UTILITY HOLDINGS, INC.
		
	By:	 	  

	Title:	 	Executive Vice President and Chief Financial Officer
		
	By:	 	  

	Title:	 	Executive Vice President and Secretary

 DATED: March 10, 2008 
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Notes referred to in the within-mentioned Indenture.

  

			
	U.S. BANK NATIONAL ASSOCIATION,
	As Trustee
		
	By:	 	  

		 	Authorized Signatory

  

 17 

 [Form of Reverse of Note] 
 VECTREN UTILITY HOLDINGS, INC. 
 6.25% Senior Monthly Notes due 2039 
 This Note is one of a duly authorized series of Securities (as defined below) of the Company (which term includes any successor corporation under the
Indenture) designated as its “6.25% Senior Monthly Notes due 2039” (the “Notes”), issued or to be issued pursuant to an Indenture, dated as of October 19, 2001, as amended by the Sixth Supplemental Indenture dated
March 10, 2008 (the “Indenture”), delivered by the Company and Indiana Gas Company, Inc., Southern Indiana Gas and Electric Company, and Vectren Energy Delivery of Ohio, Inc. (the “Initial Guarantors” and, together with each
other subsidiary of the Company that pursuant to the terms of the Indenture guarantees the Company’s obligations under the Indenture, the “Guarantors”), to U.S. Bank National Association, as Trustee (the “Trustee,” which
term includes any successor trustee under the Indenture). The terms of this Note include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as in effect on the date of the Indenture.
Reference is hereby made to the Indenture and all further supplemental indentures thereto for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders
and of the terms upon which the Notes are, and are to be, authenticated and delivered. All capitalized terms not defined herein shall have the meanings given to them in the Indenture. 
 Payments of principal and interest in respect of the Notes will be fully and unconditionally and jointly and severally guaranteed by the Guarantors,
subject to the termination of any Guarantee of any Guarantor pursuant to the terms of Article Ten of the Indenture. 
 The Notes are a series
of debt securities issued or to be issued by the Company under the Indenture that is limited in aggregate principal amount to $125,000,000, subject to the reopening provisions of the Indenture. The Indenture provides that the debt securities of the
Company issuable or issued thereunder (the “Securities”), including the Notes, may be issued in one or more series, which different series may be issued in such aggregate principal amounts and on such terms (including, but not limited to,
terms relating to interest rate or rates, provisions for determining such interest rate or rates and adjustments thereto, maturity, redemption (optional and mandatory), sinking fund, covenants and Events of Default) as may be provided in or pursuant
to the resolutions of the Company’s Board of Directors providing for the issuance of such series and/or supplemental indenture (if any) relating to such series. 
  

 18 

 The Notes shall be subject to redemption at the option of the Company, in whole at any time or in part
from time to time on or after April 1, 2013 at a price (the “Redemption Price”) equal to 100% of the principal amount to be redeemed plus any accrued and unpaid interest thereon to but excluding the applicable redemption date;
provided, however, that interest payable on a Note with respect to an Interest Payment Date that falls on or before such redemption date shall be made to the Holder thereof on the Regular Record Date related to such Interest Payment Date. The
Company shall exercise such optional redemption upon not less than 30 nor more than 60 days’ notice by mail prior to the date of redemption. 
 Subject to the conditions and restrictions contained in the Indenture, this Note may be redeemed, in whole or in part at the Redemption Price, at the request of the Representative of a deceased Beneficial Owner of this Note pursuant to a
Redemption Request attached hereto as Annex A. 
 In the event of redemption of this Note in part only, a new Note or Notes of this series
for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the presentation and surrender hereof as set forth in Section 3A.08 of the Base Indenture. This Note will not have a sinking fund. 
 The Indenture contains provisions for defeasance at any time of (a) the entire indebtedness of this Note and (b) certain restrictive covenants,
in each case upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 
 If an Event of
Default, as defined in the Indenture, shall occur and be continuing, the principal of all the Notes may be (and, in certain cases, shall be) declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the
Company and, if applicable, the Guarantors, and the rights of the Holders of the Notes at any time by the Company, the Guarantors, if applicable, and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the
Securities affected thereby, voting as a single class (which may include the Notes), at the time outstanding. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the then outstanding
Securities affected thereby, voting as a single class (which may include the Notes) 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 Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note. 
 The Indenture provides that no Holder may pursue any remedy under the Indenture
unless the Trustee shall have failed to act after notice of an Event of Default and written request by Holders of at least 25% in aggregate principal amount of the Notes and the offer to the Trustee of indemnity satisfactory to it; provided however,
such provision does not affect the right of a Holder to sue for 

  

 19 

 
enforcement of any overdue payment on this Note. 
 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times,
places and rates, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations herein
and therein set forth, the transfer of this Note is registrable in the Security Register upon surrender of this Note for registration of transfer at the agency of the Company provided for that purpose duly endorsed by, or accompanied by a written
instrument of transfer in substantially the form accompanying this Note duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees. 
 The Notes are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations herein and therein set forth, the Notes are exchangeable for a like aggregate principal amount of Notes of a
different authorized denomination, as requested by the Holder surrendering the same. 
 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 transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar governmental charge
payable upon exchanges pursuant to Section 2.11, 3A.08 or 9.05, in which case such transfer taxes or similar governmental charges shall be paid by the Company). 
 Prior to due presentment of this Note for registration of transfer, the Company, the Guarantors, the Trustee and any agent of the Company, the Guarantors or the Trustee may treat the Holder of this Note as the owner
hereof for all purposes, whether or not this Note be overdue, and none of the Company, the Guarantors, the Trustee or any such agent shall be affected by notice to the contrary. 
 This Note shall be governed by the laws of the State of Indiana without regard to principles of conflicts of law. 
  

 20 

 ASSIGNMENT FORM 
 If you the Holder want to assign this Note, fill in the form below and have your signature guaranteed: 
 I or we assign and
transfer this Note to: 
  
  
  
  
  
  
 (PRINT OR TYPE NAME, ADDRESS AND ZIP CODE AND SOCIAL SECURITY OR
TAX ID NUMBER OF ASSIGNEES) 
 and irrevocably appoint,
                    agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

									
	Dated:	 	  
	 		  	Signed:	  	  

		 	  
	 		  		  	  

		 		 		  		  	(SIGN EXACTLY AS NAME APPEARS ON THE OTHER SIDE OF THIS NOTE.)

 SIGNATURE GUARANTEE: 
  

			
	  
	  	

 Notice: Signature(s) must be guaranteed by a member firm of the New York Stock Exchange or a commercial bank or
trust company. 
  

 21 

 [Form of Guarantee of Note] 
 For good and valuable consideration receipt of which is hereby acknowledged, and intending to be legally bound hereby, each of Indiana Gas Company, Inc.,
Southern Indiana Gas and Electric Company, and Vectren Energy Delivery of Ohio, Inc. (together with each other subsidiary of the Company that pursuant to the terms of the Indenture guarantees the Company’s obligations under the Notes (as
defined below) and the Indenture, the “Guarantors”) hereby unconditionally and jointly and severally guarantees to the Holder of the note (the “Note”), authenticated and delivered by the Trustee, upon which this guarantee (the
“Guarantee”) is endorsed, the due and punctual payment of the principal of and interest on, and any Redemption Price with respect to, the Note, when and as the same shall become due and payable, whether at the Stated Maturity Date, upon
acceleration or redemption or otherwise, in accordance with the terms of this Note and of the Indenture. 
 The Guarantors agree to
determine, at least one Business Day prior to the date upon which a payment of principal of and/or interest on, and any Redemption Price with respect to, the Note, is due and payable, whether the Company has available the funds to make such payment
as the same shall become due and payable. In case of the failure of the Company to punctually pay any such principal of or interest on, and any Redemption Price with respect to, the Note, each Guarantor hereby agrees to cause any such payment to be
made punctually when and as the same shall become due and payable, whether at the Stated Maturity Date, upon acceleration or redemption or otherwise, and as if such payment were made by the Company. 
 The Guarantors hereby agree that their obligations hereunder shall be as principal and not merely as surety, and shall be unconditional, irrevocable, and
absolute, irrespective of, and shall be unaffected by, any invalidity, irregularity, or unenforceability of the Note or such Indenture, any failure to enforce the provisions of the Note or the Indenture, or any waiver, modification, consent or
indulgence granted to the Company with respect thereto (unless the same shall also be provided to the Guarantors) by the Holder of the Note or the Trustee with respect to any provisions thereof, the recovery of any judgment against the Company or
any action to enforce the same, or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a surety or of a guarantor. The Guarantors hereby waive diligence, presentment, demand of payment, filing of
claims with a court in the event of merger, insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to any the Note or the indebtedness evidenced thereby, and all demands
whatsoever and covenants that this Guarantee will not be discharged except by payment in full of the principal of and interest on, and any Redemption Price with respect to, the Note and the complete performance of the obligations contained in the
Note, this Guarantee and the Indenture. 
 The Guarantors shall be subrogated to all rights of the Holder of the Note against the Company in
respect of all amounts paid to such Holder by the Guarantors pursuant to the provisions of this Guarantee; provided, however, that the Guarantors shall not, without the consent of the Holders of all of the outstanding Notes (the “Notes”)
of the series of which the Note is a part, be entitled to enforce or to receive any payments arising out of or based upon such right of subrogation until the principal of and interest on, and any Redemption Price with respect to, all Notes shall
have been paid in full or payment thereof shall have been provided for and all other obligations contained 

  

 22 

 
in the Notes, the related Guarantees and the Indenture shall have been performed. If any amount shall be paid to any Guarantor in violation of the preceding
sentence and all amounts payable in respect of the Notes shall not have been paid in full, such amount shall be deemed to have been paid to such Guarantor for the benefit of, and held in trust for the benefit of, the Holders, and shall forthwith be
paid to the Trustee for the benefit of the Holders, to be credited and applied upon such amounts. Each Guarantor acknowledges that it will receive direct and indirect benefits from the issuance of the Notes pursuant to this Indenture. 
 Notwithstanding anything to the contrary contained herein, if following any payment of the principal, Redemption Price or interest by the Company in
respect of the Notes to the Holders of the Notes it is determined by a final decision of a court of competent jurisdiction that such payment shall be avoided by a trustee in bankruptcy (including any debtor-in-possession) as a preference under 11
U.S.C. Section 547 and such payment is returned by such Holder to such trustee in bankruptcy, then the obligations of the Guarantors hereunder shall remain in full force and effect to the extent of such repayment. 
 Notwithstanding anything to the contrary contained herein, this Guarantee shall be, and hereby is, limited to the maximum amount that may be guaranteed
by the applicable Guarantor without rendering this Guarantee, as it relates to such Guarantor, voidable under any applicable law relating to fraudulent conveyance, fraudulent transfer or similar laws affecting the rights of creditors generally.

 This Guarantee is intended for the benefit of the Trustee and each of the Holders of the Notes and shall be enforceable by such Trustee
and such Holders. 
 This Guarantee is subject to termination in accordance with the provisions of Article 10 of the Indenture. 

This Guarantee shall be governed by the laws of the State of Indiana without regard to principles of conflicts of law. 
  

 23 

 IN WITNESS WHEREOF, Indiana Gas Company, Inc. has caused this Guarantee to be executed by two of its duly
authorized officers. 
  

			
	By:	 	  

	Name:	 	Jerome A. Benkert, Jr.
	Title:	 	Executive Vice President and Chief Financial Officer

  

			
	By:	 	  

	Name:	 	Ronald E. Christian
	Title:	 	Executive Vice President, Chief Administrative Officer and Secretary

 DATED: March 10, 2008 
  

 24 

 IN WITNESS WHEREOF, Southern Indiana Gas and Electric Company has caused this Guarantee to be executed by
two of its duly authorized officers. 
  

			
	By:	 	  

	Name:	 	Jerome A. Benkert, Jr.
	Title:	 	Executive Vice President and Chief Financial Officer
		
	By:	 	  

	Name:	 	Ronald E. Christian
	Title:	 	Executive Vice President, Chief Administrative Officer and Secretary

 DATED: March 10, 2008 
  

 25 

 IN WITNESS WHEREOF, Vectren Energy Delivery of Ohio, Inc. has caused this Guarantee to be executed by two
of its duly authorized officers. 
  

			
	By:	 	  

	Name:	 	Jerome A. Benkert, Jr.
	Title:	 	Executive Vice President and Chief Financial Officer
		
	By:	 	  

	Name:	 	Ronald E. Christian
	Title:	 	Executive Vice President, Chief Administrative Officer and Secretary

 DATED: March 10, 2008 
  

 26 

 Annex A 
 FORM OF REDEMPTION REQUEST 
 VECTREN UTILITY HOLDING, INC. 
 6.25% SENIOR MONTHLY NOTES DUE 2039 
 (THE “NOTES”) 
 CUSIP NO. 92239M AJ 0 
 The undersigned,                      (the
“Participant”), does hereby certify, pursuant to the provisions of that certain Indenture, dated as of October 19, 2001, as supplemented and amended (the “Indenture”), made by and among Vectren Utility Holdings, Inc. (the
“Company”), Indiana Gas Company, Inc., Southern Indiana Gas and Electric Company and Vectren Energy Delivery of Ohio, Inc. (collectively, the “Guarantors”) and U.S. Bank Trust National Association, as Trustee (the
“Trustee”), to The Depository Trust Company (the “Depositary”), the Company, the Guarantors and the Trustee that: 
 1.
[Name of deceased Beneficial Owner] is deceased. 
 2. [Name of deceased Beneficial Owner] had a $
             beneficial ownership interest in the above referenced Notes. 
 3.
[Name of Representative] is [deceased Beneficial Owner’s personal representative/other person authorized to represent the estate of the Beneficial Owner/surviving joint tenant/surviving tenant by the entirety/trustee of a trust] of [Name of
deceased Beneficial Owner] and has delivered to the undersigned a request for redemption in form satisfactory to the Participant, requesting that $ principal amount of said Notes be redeemed pursuant to said Indenture. The documents accompanying
such request, all of which are in proper form, are in all respects satisfactory to the Participant and [Name of Representative] is entitled to have the Notes to which this Request relates redeemed. 
 4. The Participant holds the interest in the Notes with respect to which this Request is being made on behalf of [Name of deceased Beneficial Owner].

 5. The Participant hereby certifies that it will indemnify and hold harmless the Depositary, the Trustee, the Company and the Guarantors
(including their respective officers, directors, agents, attorneys and employees) against all damages, loss, cost, expense (including reasonable attorneys’ and accountants’ fees), obligations, claims or liability (collectively, the
“Damages”) incurred by the indemnified party or parties as a result of or in connection with the redemption of Notes to which this Request relates. The Participant will, at the request of the Company, forward to the Company a copy of the
documents submitted by [Name of Representative] in support of this Request. 
  

 27 

 IN WITNESS WHEREOF, the undersigned has executed this Request as of
                    ,
                    . 
  

			
	[PARTICIPANT NAME]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 28 

 Exhibit B 
 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 
 This is one of the Notes referred to in the
within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
	As Trustee
		
	By:	 	  

		 	Authorized Signatory

  

 29EMPLOYMENT AGREEMENT

 Exhibit 10.2(c) 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is entered into by and
between BLOCKBUSTER INC. (“Blockbuster” or the “Company”), and ERIC PETERSON (“Executive”). Blockbuster and Executive may hereinafter be referred to jointly as the “Parties.” 
 The Parties to this Agreement, in consideration of the mutual covenants contained herein, agree upon the following terms of employment of Executive by
the Company: 
 1. Effective Date and Term. Executive’s employment with the Company shall commence on October 15, 2007
(the “Effective Date”), provided Executive executes this Agreement and delivers it to the Company no later than
                    , 2007. Subject to the terms and conditions herein, the Company hereby employs Executive, and Executive hereby accepts
employment for a term commencing on the Effective Date and continuing for a period of three (3) years (the “Term of Employment”). 
 2. Duties. Executive will serve the Company in the capacity of Executive Vice President, General Counsel and Secretary and, in that capacity, Executive will perform his duties to the best of his abilities, subject to the
oversight of the Company’s Chairman of the Board of Directors (the “Board”) and Chief Executive Officer (the “Chairman and CEO”). The Company agrees that Executive shall have duties and responsibilities consistent with the
positions set forth above in a company the size and of the nature of Blockbuster and shall at all times have such discretion and authority as is required in the carrying out of Executive’s duties in a proper and efficient manner, subject to
such limits as the Chairman and CEO or the Board may impose through the Company’s authorizing resolutions or otherwise. 
 During the
Term of Employment, Executive shall devote all of his professional attention, on a full time basis, to the business and affairs of the Company and shall use his best efforts to advance the best interest of the Company and shall comply with all of
the policies of the Company, including, without limitation, such policies with respect to legal compliance, conflicts of interest, confidentiality and business ethics as are from time to time in effect. 
 During the Term of Employment, Executive shall not, without the prior approval of the Board, which approval will not be unreasonably withheld,
(a) directly or indirectly render services to, or otherwise act in a business or professional capacity on behalf of or for the benefit of, any other “Person” (as defined below) as an employee, advisor, member of a board or similar
governing body, independent contractor, agent, consultant, representative or otherwise, whether or not compensated, or (b) accept appointment to or work in any capacity for any charitable or not-for-profit organization; and, in the case of
clauses (a) and (b), to the extent Board approval is granted for Executive’s engagement in any such activity, Executive shall only engage in such activity to the extent that such activity does not conflict or interfere with the performance
of Executive’s duties to the Company. Executive shall be entitled to manage his personal investments and affairs, to engage in public speaking, and to serve, from time to time, on the board of directors (or in a comparable position) of up to
two (2) charitable organizations selected by Executive, provided that such activities do not unreasonably conflict or interfere with the performance of Executive’s duties. Notwithstanding the foregoing, Executive may continue to provide
service in his current capacity to the entities and organizations listed on Exhibit A to this 

  

  

			
	EMPLOYMENT AGREEMENT	  	Page 1

 
Agreement, provided that such activities do not unreasonably conflict or interfere with the performance of Executive’s duties to the Company.
“Person” or “person” as used in this Agreement means any individual, partnership, limited partnership, corporation, limited liability company, trust, estate, cooperative, association, organization, proprietorship, firm, joint
venture, joint stock company, syndicate, company, committee, government or governmental subdivision or agency, or other entity. 
 3.
Compensation. 
 A. Salary. For all duties to be performed by Executive in any capacity hereunder, Executive
shall be paid a base salary (“Base Salary”) at an annual rate, to be determined by the Board, of not less than $400,000.00 per year, payable in accordance with the normal payroll practices and procedures of the Company and subject to
normal withholdings. 
 B. Bonus Compensation. During the Term of Employment, Executive shall be entitled to receive,
in addition to his Base Salary, an annual bonus (each, an “Annual Bonus”) in accordance with the terms of the Company’s Senior Executive Annual Performance Bonus Plan, as such plan may be amended from time to time (the “Bonus
Plan”) and the provisions of this Paragraph 3.B. Executive’s target Annual Bonus for each year (“Target Bonus”) will be 60% of Executive’s Base Salary in effect for the calendar year to which such Annual Bonus relates. To
the extent payable pursuant to the Bonus Plan, Executive’s Annual Bonus will be paid to Executive no later than March 15 of the calendar year following the calendar year to which the Annual Bonus relates. 
 C. Stock Options. On the Effective Date, Executive shall be granted stock options to purchase an aggregate of 700,000 Class A
shares of the common stock, par value $0.01 per share, of the Company (the “Common Stock”), subject to adjustment in accordance with the applicable provisions of the Company’s 2004 Long-Term Management Incentive Plan (the “2004
Plan”). Such stock options shall vest over a three (3) year period, with one-third of the stock options vesting at each anniversary of the Effective Date. The term of such stock options will expire (and the stock options will cease to be
exercisable) on the fifth anniversary of the Effective Date. Except as otherwise provided herein, the stock options will be governed by the terms and provisions of the 2004 Plan, and the exercise price applicable to such stock options shall be
determined in accordance with the following provisions: 
 (1) One-third of the stock options will be granted at an exercise
price equal to the Fair Market Value (as defined in the 2004 Plan) of shares of the Company’s Common Stock on the Effective Date; 
 (2) One-third of the stock options will be granted at an exercise price equal to the exercise price determined in Paragraph 3.C.(1) above multiplied by 115%; and 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 2

 (3) One-third of the stock options will be granted at an exercise price equal to the
exercise price determined in Paragraph 3.C.(1) above multiplied by 132%. 
 D. Other Benefits. Executive shall be
eligible to participate in or receive benefits under any employee benefit plan, program, or arrangement currently available to other executives of the Company, and/or made available by the Company in the future to its executives and key management
employees, subject to and on a basis consistent with the terms, conditions, and overall administration of such plans and arrangements, provided however that Executive shall not be entitled to participate in any (i) cash or equity benefit,
incentive, bonus or other compensation arrangement of the Company other than as provided in and pursuant to Paragraphs 3.B. and 3.C. hereof, or (ii) any severance plan of the Company. In addition to the benefits described in the preceding
sentence (and to the extent not provided thereunder), Executive shall be entitled to receive an automobile allowance of $300.00 per month and automobile insurance coverage for one vehicle. 
 E. Expense Reimbursement. Executive shall be entitled to reasonable reimbursement of all reasonable expenses incurred on behalf of
the Company during the Term of Employment, in accordance with the Company’s standard policies and procedures, which provide an objectively determinable nondiscretionary definition of the expenses eligible for reimbursement. Notwithstanding any
provision of this Agreement to the contrary, the amount of expenses for which Executive is eligible to receive reimbursement during any calendar year shall not affect the amount of expenses for which Executive is eligible to receive reimbursement
during any other calendar year within the Term of Employment. Reimbursement of expenses under this Paragraph 3.E. shall be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. Executive
is not permitted to receive a payment or other benefit in lieu of reimbursement under this Paragraph 3.E. 
 4. Termination.
Unless otherwise agreed to in writing by the Company and Executive, Executive’s employment hereunder may be terminated under the following circumstances: 
 A. For Cause Termination. The Board may terminate Executive’s employment with the Company for Cause, as defined in the
following sentence. For purposes of this Agreement, (1) “Cause” means: (a) an act of dishonesty in the course of employment that is detrimental to the best interests of the Company or any of its affiliates; (b) willful
conduct of Executive involving any immoral acts that impairs the reputation of the Company or any of its affiliates; (c) willful disloyalty to the Company, (d) willful refusal or failure of Executive to obey the lawful directions of the
Board or the Chairman and CEO, (e) the neglect of duties and responsibilities assigned to Executive, (f) the indictment of Executive of any felony under federal, state or local law or a reasonable determination of the Board 

  

  

			
	EMPLOYMENT AGREEMENT	  	Page 3

 
that Executive engaged in the act of sexual harassment or violated Federal securities laws, (g) the repeated use by Executive of a controlled substance
without a prescription or the repeated use of alcohol that impairs Executive’s ability to carry out his duties and responsibilities, (h) violation by Executive of any of the Company’s material policies, or (i) material breach of
this Agreement; and (2) a “For Cause Termination” is any termination for Cause in accordance herewith. 
 B.
Involuntary Termination. The Board may, at any time, terminate Executive’s employment with the Company without Cause through an Involuntary Termination. An “Involuntary Termination” is any termination of Executive’s
employment by the Board that does not meet the definition of a For Cause Termination and does not include a termination by reason of Executive’s death or Disability. 
 C. Voluntary Termination. Executive may terminate his employment with the Company for any reason or no reason (a “Voluntary
Termination”) upon giving the Company not less than thirty (30) days written notice in advance of any proposed Date of Termination (as defined in Paragraph 4.F.). 
 D. Death or Disability. Executive’s employment will automatically terminate upon Executive’s death or upon a
determination that he has incurred a “Disability.” For the purposes of this Agreement, “Disability” means, as reasonably determined by the Board, Executive’s physical or mental incapacity that renders him unable to perform
the essential functions of Executive’s duties to the Company for sixty (60) consecutive days or eighty (80) days in any twelve (12) month period, even with reasonable accommodation. 
 E. Notice of Termination. Any termination occurring in accordance with the terms of this Paragraph 4 (other than by reason of
Executive’s death) shall be communicated by a Notice of Termination to the other Party delivered in accordance with Paragraph 7 of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice that
(i) indicates the specific termination provision of this Agreement relied upon; (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for the termination; and (iii) specifies the date such
termination shall be effective (the “Date of Termination”). The failure of a Party to set forth in the Notice of Termination any fact or circumstance that contributes to a showing of the basis for termination shall not waive any right of
such Party hereunder or later preclude such Party from asserting such fact or circumstance in enforcing its rights hereunder. 
 F. Date of Termination/Disability. “Date of Termination” means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that if Executive’s employment
is terminated by reason of his death, the Date of Termination shall be the date of death of Executive; provided, further that, in the case of a termination due to 

  

  

			
	EMPLOYMENT AGREEMENT	  	Page 4

 
Executive’s Disability, the Date of Termination is the end of any sixty (60) day period or the eighty-first day in any twelve (12) month
period that Executive is absent from work by reason of Disability. 
 5. Obligations of the Company in the Event of
Termination. In the event of the termination of Executive’s employment hereunder, all rights of Executive under this Agreement, including all rights to compensation, shall end and Executive shall only be entitled to be paid the amounts
set forth in this Paragraph 5 below; provided, that, the obligation of the Company to make any payment required pursuant to this Paragraph 5 (other than any amounts of Executive’s Base Salary previously earned and accrued and any amounts
payable on account of accrued but unused vacation) is conditioned upon (i) execution and delivery by Executive to the Company of a release agreement in favor of the Company, its affiliates and their respective officers, directors, employees,
agents and equity holders in respect of Executive’s employment with the Company and the termination thereof in a form substantially as set forth in Exhibit B attached hereto (the “Release”), and (ii) such Release, once
executed by Executive and delivered to the Company, becoming irrevocable and final under applicable law. Promptly following Executive’s termination, the Company shall deliver to him an execution-ready Release and, in the event that Executive
fails to deliver the executed Release to Company or the Executive delivers an executed Release but such Release does not become irrevocable and final under applicable law on or before the last day of the period during which payment may be made under
the following provisions of this Paragraph 5, then Executive shall forfeit any payment required pursuant to this Paragraph 5 (other than any amounts of Executive’s Base Salary previously earned and accrued and any amounts payable on account of
accrued but unused vacation). 
 A. For Cause or Voluntary Termination or Termination Due to Executive’s Death or
Disability. 
 (1) If Executive’s employment is terminated as a result of a For Cause Termination or a Voluntary
Termination, or due to Executive’s death or Disability, Executive will then, in lieu of any other payments of any kind (including without limitation, any severance payments), be entitled to receive, within thirty (30) days following the
Date of Termination, the following: 
 (a) Payment of any unpaid Base Salary through the Date of Termination; 
 (b) Payment for any vacation time accrued and unused as of the Date of Termination, pursuant to Company policy; and 
 (c) Executive’s vested stock options may be exercised in accordance with the applicable provisions of the 2004 Plan, and all
unvested stock options shall be forfeited. 
 (2) If Executive’s employment is terminated as a result of a For Cause
Termination or a Voluntary Termination, or due to Executive’s death or Disability, coverage under all of the Company’s benefit plans and programs in which Executive is entitled to participate under Paragraph 3.D. above will terminate as of
the Date of Termination except to the extent expressly provided in such plans, programs, or applicable law. 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 5

 B. Involuntary Termination. 
 (1) If Executive’s employment is terminated as a result of an Involuntary Termination, Executive will then, in lieu of any other
payments of any kind (including without limitation, any severance payments), be entitled to receive, within thirty (30) days following the Date of Termination, the following: 
 (a) Payment of any unpaid Base Salary through the Date of Termination; 
 (b) Payment for any vacation time accrued and unused as of the Date of Termination, pursuant to Company policy; 
 (c) Executive’s vested stock options may be exercised in accordance with the applicable provisions of the 2004 Plan, and all
unvested stock options shall be forfeited; 
 (d) Payment of any Annual Bonus the performance period for which has been
completed but the payment of which has not been made as of the Date of Termination. Such payment shall be made at the time the Annual Bonus payment would otherwise have been made; and 
 (e) Payment of a lump sum amount equal to twelve (12) months’ worth of Executive’s Base Salary, as in effect on the Date
of Termination. 
 (2) If Executive’s employment is terminated as a result of an Involuntary Termination, coverage under
all of the Company’s benefit plans and programs in which Executive is entitled to participate under Paragraph 3.D. above will terminate as of the Date of Termination except to the extent expressly provided in such plans, programs, or by
applicable law. 
 6. Indemnification; Directors’ and Officers’ Liability Insurance. As and to the extent provided in
the Company’s bylaws, Executive will be entitled to the indemnification provided to other executive officers and directors of the Company. In addition, the Company agrees to include Executive as a covered person on a directors’ and
officers’ liability insurance policy or policies covering Executive to the same extent that the Company provides such coverage for its other executive officers and directors. 
 7. Notices. Any and all notices required or permitted under this Agreement shall be in writing and shall be personally delivered, or mailed
by expedited overnight delivery service, or sent by facsimile (provided that the sender confirms the facsimile by sending an original confirmation copy thereof by certified or registered mail or expedited delivery service within two
(2) business days after transmission thereof) to the respective Parties at the following addresses 

  

  

			
	EMPLOYMENT AGREEMENT	  	Page 6

 
unless and until a different address has been designated by written notice to the other Party, as follows: 
 Notices to Blockbuster: 
 Blockbuster
Inc. 
 Attn: Chairman and CEO 
 1201 Elm Street 
 Dallas, Texas 75270 
 Facsimile No.: (214) 854-3436 
 Notices to Executive: 
 Eric Peterson 
 3704 Southwestern Blvd.

 Dallas, Texas 75225 
 Facsimile
No.: (214) 265-1766 
 Any notice shall be deemed to have been given at the time of personal delivery or, in the case of facsimile, upon transmission
(provided confirmation is sent as described above) or, in the case of expedited delivery via overnight service upon receipt thereof. 
 8.
Non-Disclosure/Non-Disparagement. 
 A. During the Term of Employment and at all times thereafter, Executive shall
(1) hold in a fiduciary capacity for the benefit of the Company and each of its affiliates, all secret or confidential information, knowledge or data, including, without limitation, trade secrets, sources of supplies and materials, customer
lists and their identity, designs, production and design techniques and methods, identity of investments, identity of contemplated investments, business opportunities, valuation models and methodologies, processes, technologies, and any intellectual
property relating to the business of the Company or its affiliates, and their respective businesses, (a) obtained by Executive during Executive’s employment by the Company and any of the subsidiaries of the Company, and (b) not
otherwise in the public domain (“Confidential Information”); and (2) comply with any confidentiality obligations of the Company to a third party. Executive shall not, without the prior written consent of the Company (acting at the
direction of the Board): (i) except to the extent compelled pursuant to the order of a court or other body having jurisdiction over such matter or based upon the advice of counsel that such disclosure is legally required, communicate or divulge
any Confidential Information to anyone other than the Company and those designated by the Company; or (ii) use any Confidential Information for any purpose other than the performance of his duties pursuant to this Agreement. Executive will
reasonably assist the Company or its designee, at the Company’s expense, in obtaining a protective order, other appropriate remedy or other reliable assurance that confidential treatment will be accorded any Confidential Information disclosed
pursuant to the terms of this Agreement. 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 7

 B. Executive and the Company each agree not to disparage the other (and, in the case of
the Company, any of its affiliates or any of their respective officers or directors) at any time during or after the Term of Employment hereunder. 
 C. All processes, technologies, intellectual property and inventions (collectively, “Inventions”) conceived, developed, invented, made or found by Executive, alone or with others, during the Term of
Employment that are within the scope of the Company’s business operations, whether or not patentable and whether or not on the Company’s or any of its subsidiaries’ time or with the use of the Company’s or any of its
subsidiaries’ facilities or materials, shall be the property of the Company or its respective subsidiary, as the case may be, and shall be promptly and fully disclosed by Executive to the Company. Executive shall perform all reasonably
necessary acts (including, without limitation, executing and delivering any confirmatory assignments, documents, or instruments requested by the Company or any of its subsidiaries) to vest title to any such Invention in the Company or the applicable
subsidiary and to enable the Company or the applicable subsidiary, at their expense, to secure and maintain domestic and/or foreign patents or any other rights for such Inventions. 
 9. Non-Compete. 
 A. Unless Executive’s employment is terminated by the Company as a result of an Involuntary Termination, Executive will not, for a period of one (1) year following the Date of Termination, either directly or indirectly, as
principal, agent, owner, employee, partner, investor, stockholder (other than solely as a holder of not more than 1% of the issued and outstanding shares of any public entity), consultant, advisor or otherwise howsoever own, operate, carry on or
engage in the operation of or have any financial interest in or provide, directly or indirectly, financial assistance to or lend money to or guarantee the debts or obligations of any Person carrying on or engaged in any business that is similar to
or competitive with the business conducted by the Company or any of its subsidiaries, whether with respect to customers, sources of supply or otherwise. 
 B. Executive covenants and agrees with the Company and its subsidiaries that, during the Term of Employment and for one (1) year thereafter, Executive shall not, directly or indirectly, for himself or for any
other Person: 
 (1) solicit, interfere with or endeavor to entice away from the Company or any of its subsidiaries or
affiliates, any customer or client; 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 8

 (2) attempt to direct or solicit any customer or client away from the Company or any of
its subsidiaries or affiliates; or 
 (3) interfere with, entice away or otherwise attempt to induce any person who is then or
has been within six (6) months prior thereto an employee of the Company or any of its subsidiaries or affiliates to terminate his/her employment with the Company or any of its subsidiaries or affiliates. 
 Executive represents to and agrees with the Company that the enforcement of the restrictions contained in Paragraph 8 and Paragraph 9 (i.e., the Non-Disclosure,
Non-Disparagement and Non-Compete provisions of this Agreement) would not be unduly burdensome to Executive and that such restrictions are reasonably necessary to protect the legitimate interests of the Company. Executive agrees that the remedy of
damages for any breach by Executive of the provisions of either of these paragraphs may be inadequate and that the Company shall be entitled to seek injunctive relief, without posting any bond, and Executive agrees not to oppose granting of such
relief on the grounds that monetary damages would adequately compensate the Company. This Paragraph 9 constitutes an independent and separable covenant that shall be enforceable notwithstanding any right or remedy that the Company may have under any
other provision of this Agreement or otherwise. 
 10. Return of Property. All documents, data, recordings, or other property,
whether tangible or intangible, including all information stored in electronic form, obtained or prepared by or for Executive and utilized by Executive in the course of his employment with the Company or any of its affiliates shall remain the
exclusive property of the Company. Executive shall return such property that is in his possession or control promptly after receipt of a written request from the Company. Anything to the contrary notwithstanding, nothing in this Paragraph 10 shall
prevent Executive from retaining a home computer and security system, papers and other materials of a personal nature, including personal diaries, calendars and Rolodexes, information relating to his compensation or relating to reimbursement of
expenses, information that Executive reasonably believes may be needed for tax purposes, and copies of plans, programs and agreements relating to Executive’s employment. 
 11. Litigation. Executive agrees that, during the Term of Employment and continuing until the end of the one (1) year period following
Executive’s Date of Termination, and, if longer, during the pendancy of any litigation or other proceeding, Executive shall not communicate with anyone (other than his attorneys and tax and/or financial advisors and except to the extent
Executive determines in good faith is necessary to the performance of his duties hereunder) with respect to the facts or subject matter of any pending or potential litigation, or regulatory or administrative proceeding involving the Company or any
of its affiliates, other than any litigation or other proceeding in which Executive is a party-in-opposition, without giving prior notice to the Company or the Company’s counsel. In addition, during the Term of Employment and continuing until
the end of the one (1) year period following Executive’s Date of Termination, in the event that any other party attempts to obtain information or documents from Executive (other than in connection with any litigation or other proceeding in
which Executive is a party-in-opposition) with respect to matters Executive believes in good faith are related to such litigation or other proceeding, Executive shall promptly so notify the Company’s counsel. Executive agrees to cooperate, in a
reasonable and appropriate manner, with the 

  

  

			
	EMPLOYMENT AGREEMENT	  	Page 9

 
Company and its attorneys, both during and after the termination of his employment, in connection with any litigation or other proceeding arising out of or
relating to matters in which Executive was involved prior to the termination of his employment to the extent the Company pays all expenses Executive incurs in connection with such cooperation and to the extent such cooperation does not unduly
interfere (as determined by Executive in good faith) with Executive’s personal or professional schedule. 
 12.
Arbitration. Except as provided otherwise in Paragraph 9, all claims, demands, causes of action, disputes, controversies or other matters in question (“Claims”), whether or not arising out of this Agreement or the
Executive’s service (or termination from service) with the Company, whether arising in contract, tort or otherwise and whether provided by statute, equity or common law, that the Company may have against the Executive or that the Executive may
have against the Company, or its parents, subsidiaries or affiliates, or against each of the foregoing entities’ respective officers, directors, employees or agents in their capacity as such or otherwise, shall be submitted to binding
arbitration, if such Claim is not resolved by the mutual written agreement of the Executive and the Company, or otherwise, within thirty (30) days after notice of the dispute is first given. Claims covered by this Paragraph 12 include, without
limitation, claims by the Executive for breach of this Agreement, wrongful termination, discrimination (based on age, race, sex, disability, national origin, sexual orientation, or any other factor), harassment and retaliation. Any arbitration shall
be conducted in accordance with the Federal Arbitration Act (“FAA”) and, to the extent an issue is not addressed by the FAA, with the then-current National Rules for the Resolution of Employment Disputes of the American Arbitration
Association (“AAA”) or such other rules of the AAA as are applicable to the claims asserted. If a party refuses to honor its obligations under this Paragraph 12, the other party may compel arbitration in either federal or state court. The
arbitrator shall apply the substantive law of Texas (excluding choice-of-law principles that might call for the application of some other jurisdiction’s law) or federal law, or both as applicable to the Claims asserted. The arbitrator shall
have exclusive authority to resolve any dispute relating to the interpretation, applicability or enforceability or formation of this Agreement (including this Paragraph 12), including any claim that all or part of the Agreement is void or voidable
and any Claim that an issue is not subject to arbitration. The results of arbitration will be binding and conclusive on the parties hereto. Any arbitrator’s award or finding or any judgment or verdict thereon will be final and unappealable. All
parties agree that venue for arbitration will be in Dallas, Texas, and that any arbitration commenced in any other venue will be transferred to Dallas, Texas, upon the written request of any party to this Agreement. In the event that an
arbitration is actually conducted pursuant to this Paragraph 12, the party in whose favor the arbitrator renders the award shall be entitled to have and recover from the other party all costs and expenses incurred, including reasonable
attorneys’ fees, reasonable costs and other reasonable expenses pertaining to the arbitration and the enforcement thereof and such attorneys fees, costs and other expenses shall become a part of any award, judgment or verdict. Any and all of
the arbitrator’s orders, decisions and awards may be enforceable in, and judgment upon any award rendered by the arbitrator may be confirmed and entered by any federal or state court having jurisdiction. All privileges under state and federal
law, including attorney-client, work product and party communication privileges, shall be preserved and protected. The decision of the arbitrator will be binding on all parties. Arbitrations will be conducted in such a manner that the final decision
of the arbitrator will be made and provided to the Executive and the Company no later than 120 days after a matter is submitted to arbitration. All proceedings conducted pursuant to this 

  

  

			
	EMPLOYMENT AGREEMENT	  	Page 10

 
agreement to arbitrate, including any order, decision or award of the arbitrators, shall be kept confidential by all parties. EXECUTIVE ACKNOWLEDGES THAT,
BY SIGNING THIS AGREEMENT, EXECUTIVE IS WAIVING ANY RIGHT THAT EXECUTIVE MAY HAVE TO A JURY TRIAL OR A COURT TRIAL OF ANY SERVICE RELATED CLAIM ALLEGED BY EXECUTIVE.  
 13. Miscellaneous. 
 A. Choice of Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of Texas, without reference to principles of conflict of laws. 
 B.
Captions. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. 
 C.
Entire Agreement. This Agreement contains the entire agreement between Executive and the Company with regard to the Company’s employment of Executive and supersedes and nullifies all previous agreements between the Parties about the
Company’s employment of Executive. 
 D. Amendment. This Agreement may be amended, modified or terminated only by
a written document signed by Executive and a duly authorized officer of the Company specifically referencing the provision or provisions being amended, modified or terminated. 
 E. Invalid Provision; Language Construction. Whenever possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or
unenforceability will not affect any provision in any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein
except that any court having jurisdiction shall have the power to reduce the duration, area, or scope of such invalid, illegal, or unenforceable provision and, its reduced form, it shall be enforceable. It is the intent of the Parties that the
provisions of this Agreement be enforceable to the fullest extent permitted by applicable law. The Parties agree that the language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning, and not
strictly for or against either Party. 
 F. No Assignment. No rights or obligations of Executive under this Agreement
may be assigned or transferred other than Executive’s rights to compensation and benefits, which may be transferred only by will or operation of law. 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 11

 G. Withholding. The Company may withhold from any amounts payable under this
Agreement such federal, state, or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 H. Waiver. The Company’s or Executive’s failure to insist on strict compliance with any provision of this Agreement shall not be deemed to be a waiver of such provision or any other provision of this Agreement. 

I. Deemed Resignation. Any termination of Executive’s employment with the Company shall constitute an automatic resignation
of Executive as an officer of the Company and each affiliate of the Company. In addition, Executive agrees to resign, effective as of the date of conclusion of his employment for any reason, from his membership on the Board (if applicable), and from
the board of directors of any affiliate of the Company, and from the board of directors or similar governing body of any corporation, limited liability company, or other entity in which the Company or any affiliate holds an equity interest and with
respect to which board or similar governing body Executive serves as the Company’s or such affiliate’s designee or other representative. 
 J. Consultation with Attorney. Executive acknowledges that he has been advised in writing to consult with an attorney before signing this Agreement. 
 K. No Conflict. Executive covenants and represents that (i) he is not a party to any contract, commitment or agreement, nor is
he subject to, or bound by, any order, judgment, decree, law, statute, ordinance, rule, regulation or other restriction of any kind or character, which would prevent or restrict him from entering into and performing his obligations under this
Agreement, (ii) he is free to enter into the arrangements contemplated herein, (iii) he is not subject to any agreement or obligation that would limit his ability to act on behalf of the Company or any of its subsidiaries, and
(iv) his termination of his existing employment, his entry into the employment contemplated herein and his performance of his duties in respect thereof, will not violate or conflict with any agreement or obligation to which he is subject.
Executive has delivered to the Company true and complete copies of any currently effective employment agreement, non-competition agreement or similar agreement to which Executive is subject. 
 L. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original. 
 [Signature Page Follows] 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 12

 IN WITNESS WHEREOF, the Parties have executed the Agreement as of the dates set forth below.

  

							
	EXECUTIVE	 		 	BLOCKBUSTER INC.
				
	 /s/ Eric Peterson
	 		 	By:	 	 /s/ Thomas M. Casey

	ERIC PETERSON	 		 	Its:	 	Executive Vice President and Chief Financial Officer
	Date: 10/12/2007	 		 	Date: 10/12/2007

 [Signature Page to Employment Agreement] 
  

  

			
	EMPLOYMENT AGREEMENT	  	Page 13

 EXHIBIT A 
 1. Executive will be called upon from time to time to serve as a witness for TXU Corp. in connection with proceedings involving TXU Europe. 
 2. Director of United Way – Metropolitan Dallas 
  

  

			
	EXHIBIT A – LIST OF CURRENT ORGANIZATIONS	  	Page 1

 EXHIBIT B 
 GENERAL RELEASE OF ALL CLAIMS 
 This General Release of All Claims (the “General
Release”) dated as of                  , 20     is made in consideration of severance payments and other benefits
provided to the undersigned employee (“Executive”) under the Employment Agreement by and between Executive and Blockbuster Inc. (the “Company”), effective as of
                 , 2007 (the “Employment Agreement”). Unless otherwise defined herein, the terms defined in the Employment Agreement shall
have the same defined meaning in this General Release. 
 1. For valuable consideration to be paid to Executive, upon expiration of the seven
day revocation period provided in Section 8 herein, as provided for in Paragraph 5 of the Employment Agreement and to which he is not contractually entitled to absent the execution of this General Release, the adequacy of which is hereby
acknowledged, Executive, for himself, his spouse, heirs, administrators, children, representatives, executors, successors, assigns, and all other persons claiming through Executive, if any (collectively, “Releasers”), does hereby
release, waive, and forever discharge the Company and the Company’s former, present or future subsidiaries, parents, affiliates, related organizations, employees, officers, directors, equity holders, attorneys, successors and assigns
(collectively, the “Releasees”) from, and does fully waive any obligations of Releasees to Releasers for, any and all liability, actions, charges, causes of action, demands, damages, or claims for relief, remuneration, sums of
money, accounts or expenses (including, without limitation, attorneys’ fees and costs) of any kind whatsoever, whether known or unknown or contingent or absolute, which heretofore has been or which hereafter may be suffered or sustained,
directly or indirectly, by Releasers in consequence of, arising out of, or in any way relating to Executive’s employment with the Company (whether pursuant to the Employment Agreement or otherwise) or any of its affiliates and the termination
of Executive’s employment. The foregoing release and discharge, waiver and covenant not to sue includes, but is not limited to, all claims, and any obligations or causes of action arising from such claims, under common law including any state
or federal discrimination, fair employment practices or any other employment-related statute or regulation (as they may have been amended through the date of this General Release) prohibiting discrimination or harassment based upon any protected
status including, without limitation, race, color, religion, national origin, age, gender, marital status, disability, handicap, veteran status or sexual orientation. Without limitation, specifically included in this paragraph are any claims arising
under the Federal Rehabilitation Act of 1973, Age Discrimination in Employment Act of 1967, as amended (“ADEA”), the Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act
of 1991, the Equal Pay Act, the Americans With Disabilities Act, the National Labor Relations Act, the Fair Labor Standards Act, Employee Retirement Income Security Act of 1974, the Family Medical Leave Act of 1993, the Consolidated Omnibus Budget
Reconciliation Act of 1985 (“COBRA”), and any similar state statutes. The foregoing release and discharge also expressly includes any claims under any state or federal common law theory, including, without limitation, wrongful or
retaliatory discharge, breach of express or implied contract, promissory estoppel, unjust enrichment, breach of covenant of good faith and fair dealing, violation of public policy, defamation, interference with contractual relations, 

  

  

			
	EXHIBIT B – GENERAL RELEASE OF CLAIMS	  	Page 1

 
intentional or negligent infliction of emotional distress, invasion of privacy, misrepresentation, deceit, fraud or negligence. This also includes a release
by Executive of any claims for alleged physical or personal injury, emotional distress relating to or arising out of Executive’s employment with the Company or the termination of that employment; and any claims under the WARN Act or any similar
law, which requires, among other things, that advance notice be given of certain work force reductions. This release and waiver applies to any claims or rights that may arise after the date Executive signs this General Release, but does not apply to
any such claims arising out of conduct by any Releasees that takes place after Executive signs this General Release. All of the claims, liabilities, actions, charges, causes of action, demands, damages, remuneration, sums of money, accounts or
expenses described in this Section 1 shall be described, collectively, as the “Released Claims”. 
 2. Excluded from
this General Release are any claims which cannot be waived by law, including, but not limited to, the right to participate in an investigation conducted by certain government agencies. Executive does, however, waive Executive’s right to any
monetary recovery should any agency (such as the Equal Employment Opportunity Commission) pursue any claims on Executive’s behalf. Executive represents and warrants that Executive has not filed any complaint, charge, or lawsuit against the
Releasees with any government agency or any court. 
 3. Executive agrees never to sue Releasees in any forum for any Released Claims covered
by the above waiver and release language, except that Executive may bring a claim under the ADEA to challenge this General Release. If Executive violates this General Release by suing Releasees, other than under the ADEA, Executive shall be liable
to the Company for its reasonable attorneys’ fees and other litigation costs incurred in defending against such a suit. Nothing in this General Release is intended to reflect any party’s belief that Executive’s waiver of claims under
ADEA is invalid or unenforceable, it being the interest of the parties that such claims are waived. 
 4. Executive acknowledges and recites
that: 
 (a) Executive has executed this General Release knowingly and voluntarily; 
 (b) Executive has read and understands this General Release in its entirety; 
 (c) Executive has been advised and directed orally and in writing (and this subparagraph (c) constitutes such written direction) to seek legal
counsel and any other advice he wishes with respect to the terms of this General Release before executing it; 
 (d) Executive’s
execution of this General Release has not been forced by any employee or agent of the Company, and Executive has had an opportunity to negotiate about the terms of this General Release and that the agreements and obligations herein are made
voluntarily, knowingly and without duress, and that neither the Company nor its agents have made any representation inconsistent with the General Release; and 
 (e) Executive has been offered 21 calendar days after receipt of this General Release to consider its terms before executing it. 
  

  

			
	EXHIBIT B – GENERAL RELEASE OF CLAIMS	  	Page 2

 5. This General Release shall be governed by, and construed in accordance with, the laws of the United
States applicable thereto and the internal laws of the State of Texas, without giving effect to the conflicts of law principles thereof. 
 6. Executive represents that he has returned all property belonging to the Company including, without limitation, keys, access cards, computer software and any other equipment or property. Executive further represents that he has delivered
to the Company all documents or materials of any nature belonging to it, whether an original or copies of any kind, including any Confidential Information. 
 7. Executive represents that he has been provided notice of his right to elect continuation of healthcare benefits under COBRA and that he is not entitled to any other benefits under the Company’s employee
benefit plans other than vested benefits to which Executive was entitled under the Company’s employee benefit plans as of the Date of Termination (as defined in the Employment Agreement). 
 8. Executive shall have 7 days from the date hereof to revoke this General Release by providing written notice of the revocation to the Company, in
accordance with the requirements of Paragraph 7 of the Employment Agreement, in which event this General Release shall be unenforceable and null and void. 
 I, ERIC PETERSON, represent and agree that I have carefully read this General Release; that I have been given ample opportunity to consult with my legal counsel or any other party to the extent, if any, that I desire; and that I am
voluntarily signing by my own free act. 
 PLEASE READ THIS GENERAL RELEASE CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
  

	
	EXECUTIVE:
	
	  

	ERIC PETERSON
	Date:                     , 20    

 Dallas 1307721v.4 
  

  

			
	EXHIBIT B – GENERAL RELEASE OF CLAIMS	  	Page 3

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