Document:

ex10_1.htm

Exhibit 10.1

 

BIGBAND NETWORKS, INC.

TRANSITION SERVICES AGREEMENT

This Transition Services Agreement (the “Agreement”) is effective as of September 7, 2011 (the “Effective Date”) and entered into by and between BigBand Networks, Inc., having a principal place of business at 475 Broadway Street, Redwood City, California  94063 (the “Company”) and Paul Crann (“Mr. Crann”, and collectively with the Company, the “Parties”).

WHEREAS, the Company has employed Mr. Crann since July 2006; and

WHEREAS, the Parties have agreed to terminate Mr. Crann’s employment with the Company on September 7, 2011 (the “Termination Date”); and

WHEREAS, Mr. Crann and the Company desire to provide for a smooth transition of the services currently provided by Mr. Crann to another person;

NOW THEREFORE, in consideration of the foregoing, the Parties agree as follows:

1.             Release Agreement.  In consideration of the benefits conferred pursuant to Section 2 hereof, on the Effective Date, Mr. Crann shall execute a release agreement substantially in the form attached hereto as Exhibit A.

 

2.             Consulting Services.

2.1           Scope of Work.  Following the Effective Date until September 30, 2011, or the date of termination of this Agreement if earlier by either party pursuant to Section 3.2 (the “Consulting Period”), Mr. Crann will provide transitional consulting services (the “Services”) to the Company as designated by Amir Bassan-Eskenazi, including making himself available to the Company for no more than 8 hours per week.  Mr. Crann
shall use his reasonable efforts to perform any such services in a professional and workman-like manner.

2.2           Amount.  During the Consulting Period, Mr. Crann shall continue to be a “service provider” under the Company’s stock incentive plans and all options granted to Mr. Crann shall continue to vest during the Consulting Period.  Mr. Crann shall be solely liable for any federal, state, or local withholding, or other payroll taxes relating to performance of the Services under this Section 2.  Mr. Crann shall be
reimbursed for all reasonable travel expenses incurred in the performance of the Services hereunder to the extent such expense has been authorized by the Company’s chief executive officer in advance.

2.3           Independence.  From and after the Termination Date through the end of the Consulting Period under this Agreement, Mr. Crann’s relationship with the Company will be that of an independent contractor and not that of an employee.  Mr. Crann shall have control over the method, manner, and means of the performance of Services, subject to the express provisions of this Agreement.  Mr. Crann will not be eligible for any employee
benefits, nor will the Company make deductions from payments made to Mr. Crann for taxes, all of which will be Mr. Crann’s responsibility.   Mr. Crann will have no authority to enter into contracts that bind the Company or create obligations on the part of the Company without the prior written authorization of the Company.

  

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3.             Term and Termination.

3.1           Term.  Mr. Crann shall serve as a consultant to the Company commencing on the Effective Date and terminating on September 30, 2011, unless terminated earlier pursuant to Section 3.2 hereof.

3.2           Termination.  After the Effective Date, either party may terminate this Agreement at any time on 10 days’ written notice, in which case Mr. Crann shall be entitled to compensation for Services performed under this Agreement prior to the effective date of such termination; provided however, that no such termination shall occur so long as Mr. Crann takes no action or communication unless such action or communication was directed or authorized by the Company’s chief executive
officer.  Mr. Crann’s obligations relating to confidentiality pursuant to Section 5 hereof shall survive termination of this Agreement.

4.            Consulting or Other Services for Competitors.  Mr. Crann represents and warrants that he will not, during the term of this Agreement, perform any consulting or other services for any company, person or entity whose business or proposed business in any way involves products or services that could reasonably be determined to be competitive with the products or services or proposed products or services of the Company.

5.            Confidentiality.  Mr. Crann understands that the Company possesses and will possess Confidential Information that is important to its business and may disclose information in the course of this Agreement that is considered to be trade secrets, highly confidential, or sensitive.  As a result, during the term of this Agreement, Mr. Crann hereby agrees that, during the term of this Agreement and the performance of Services under Section
2 hereof, he will continue to be bound by and acquit himself in accordance with that certain At Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement between the Company and himself dated December 19, 2006 (“Proprietary Rights Agreement”), a copy of which is attached hereto as Exhibit B, including, but not limited to, the non-competition and non-solicitation provisions thereof.

6.            Miscellaneous.

6.1           Amendments and Waivers. Any term of this Agreement may be amended or waived only with the written consent of both parties.

6.2           Sole Agreement. This Agreement, including the Exhibits hereto, constitutes the sole agreement of the parties and supersedes all oral negotiations and prior writings with respect to the subject matter hereof.

6.3            Notices.  Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or by a nationally-recognized delivery service (such as Federal Express or UPS), or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s address as set forth above or as subsequently modified by written
notice.  Confirmation of e-mail receipt shall also suffice.

6.4           Choice of Law. The laws of the Commonwealth of Massachusetts shall govern the validity, interpretation, construction and performance of this Agreement, without giving effect to the principles of conflict of laws.

6.5           Severability.  If one or more provisions of this Agreement are held to be unenforceable under applicable law, then such provision shall be excluded from this Agreement, the balance of the Agreement shall be interpreted as if such provision were so excluded and the balance of the Agreement shall be enforceable in accordance with its terms.

  

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6.6           Arbitration. Any dispute or claim arising out of or in connection with any provision of this Agreement, excluding Sections 5 hereof, will be finally settled by binding arbitration in accordance with the rules of the American Arbitration Association by one arbitrator appointed in accordance with said rules; the party deemed by the arbitrator to have lost the arbitration shall be
responsible for all expenses of such arbitration.  The arbitrator shall apply Massachusetts law, without reference to rules of conflicts of law or rules of statutory arbitration, to the resolution of any dispute.  Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.  Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance with this paragraph, without breach of this arbitration provision.

The parties have executed this Agreement on September 7, 2011.

	
BigBand Networks, Inc.

	  	
Paul  Crann

	  	  	  	  
	
By:

	  	  	  
	  	  	  	  
	
Name:

	  	  	  
	  	  	  	  
	
Title:

	  	  	  

  

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EXHIBIT A

CONFIDENTIAL SEPARATION AGREEMENT

AND GENERAL RELEASE OF CLAIMS

1.             Paul Crann (“Employee”) and BigBand Networks, Inc., a Delaware corporation (“BigBand”), entered into an offer letter dated July 14, 2006, as amended from time to time thereafter (the “Employment Agreement”).  Employee’s last day of employment with BigBand is September 7, 2011 (the “Separation Date”).  Accordingly, Employee and BigBand, intending to be legally bound hereby, agree as set forth in this Confidential Separation Agreement and General Release of Claims (the “Agreement”).  This Agreement
will become effective on the eighth day after it is signed by Employee (the “Effective Date”), provided that Employee has not revoked this Agreement (by written notice to BigBand’s General Counsel or a similarly situated executive officer of BigBand) prior to that date.

2.             In exchange for the release of the claims provided for herein, BigBand will provide Employee with a lump sum severance payment of $125,000.00, less applicable taxes and other withholdings as determined by BigBand's payroll department; such severance payment will be made to Employee within five business days after the Effective Date.

Consistent with BigBand’s practice, Employee will receive his final paycheck (including payment for any accrued but unused vacation) on the Effective Date.  Furthermore Company agrees that first half 2011 Incentive Compensation Plan (“ICP”) payment due Employee shall be processed in a manner and at a timing consistent with all other executives of the Company.  Employee acknowledges and agrees that, except for consideration outlined in this Section 2, BigBand has paid to Employee on the Separation Date all compensation, including, but not limited to, any and all wages, commissions, bonuses, and accrued but unused vacation, that Employee earned during his employment with
BigBand until and including the Separation Date.  Employee further acknowledges and agrees that he will cease to accrue vacation as of the Separation Date. The Employment Agreement is hereby terminated and is of no further force or effect, and Employee shall not be entitled to any further monetary payments, bonus arrangements, other remuneration or other benefits of any kind from BigBand or from any other person or entity that acts or has acted on BigBand’s behalf, other than (i) as expressly set forth in this Section 2 or (ii) as outlined in that certain Transition Services Agreement dated September 7, 2011.

3.             Employee agrees that, within ten (10) days after the Separation Date, he will submit his final documented expense reimbursement statement reflecting all business expenses he incurred through the Separation Date, if any, for which he seeks reimbursement.  BigBand will reimburse Employee for these expenses pursuant to its regular business practices.

4.              With respect to any stock options and equity awards previously granted to Employee by BigBand, those options will (i) cease vesting on the date that Employee is no longer deemed a ‘service provider’ under the BigBand’s stock incentive plans and (ii) continue to be subject to and governed by the terms and conditions of any applicable stock option agreements between Employee and BigBand, and the governing stock option plans.

5.             In exchange for the benefits under this Agreement to which Employee is not otherwise entitled, Employee, for himself and his respective legal successors and assigns, forever releases, discharges and acquits BigBand and its respective current and former parent companies and predecessors, and each of its and their respective divisions, subsidiaries, shareholders, officers, directors, current and former employees, insurers, attorneys, accountants, agents, affiliates, legal successors and assigns (collectively the “Released Parties”), from any and all claims, demands, damages, debts, liabilities, actions and causes of action
(collectively, “Claims”) of every kind and nature whatsoever, whether now known or unknown, which Employee now has, or ever had, against any of those Released Parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which Employee signs this Agreement, including, without limitation, (i) all claims related to his employment with BigBand or the termination of that employment; (ii) any contract or tort claims, including, without limitation, claims for breach of contract, breach of the implied covenant of good faith and fair dealing, wrongful termination, retaliation, fraud, defamation or infliction of emotional distress; and (iii) any claims for national origin, race, sex, age, sexual orientation, medical condition, disability, or other discrimination or harassment arising
under the Civil Rights Act of 1964 (as amended), the Age Discrimination in Employment Act (as amended) (“ADEA”), the Americans With Disabilities Act, or any other law or statute (all of which are hereinafter referred to as and included within the “Released Matters”).

  

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6.             Employee agrees to return to BigBand, not later than the Separation Date, all BigBand documents (and all copies thereof) and other BigBand property that Employee has had in his possession at any time, including, without limitation, BigBand files, notes, notebooks, correspondence, memoranda, agreements, drawings, records, business plans, forecasts, financial information, specifications, computer-recorded information, and tangible property (including, without limitation, company-issued laptop computer, credit cards, entry cards, identification badges and keys), and any materials of any kind
that contain or embody any proprietary or confidential information of BigBand (and all reproductions thereof in whole or in part).

7.             THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS, WITHOUT REGARD TO THE CONFLICTS OR CHOICE OF LAW RULES OF SUCH STATE OR OF ANY OTHER JURISDICTION.

8.             This Agreement shall inure to the benefit of the successors of BigBand and shall be binding upon the Employee, his heirs, executors, administrators and successors.

9.             Notwithstanding the termination of the Employment Agreement, Employee acknowledges and agrees that he shall continue to be bound by and comply with the terms of the At Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement between BigBand and Employee dated December 19, 2006 (“Proprietary Rights Agreement”).

 

11.           Employee agrees that he will not directly or indirectly disclose any of the terms of this Agreement to anyone other than his immediate family or counsel, except to the extent that such disclosure may be required for accounting or tax reporting purposes or as otherwise may be required by law.  Employee further agrees that he will not, at any time in the future, (i) make any critical or disparaging statements with respect to any of the Released Parties or any products or services developed, marketed or sold by BigBand or any subsidiary or affiliate of BigBand, or (ii) participated in
tortuous interference with the contracts and relationships of BigBand.

12.           Employee agrees that for a period of one (1) year following the Separation Date, he will not, without the prior written consent of BigBand, on behalf of himself or any other person or entity, directly or indirectly, encourage or solicit any employee of BigBand or any of its subsidiaries or affiliates to terminate his or his employment with BigBand or any of its subsidiaries or affiliates.

13.           Employee agrees that he will not voluntarily provide assistance, information or advice of any kind, directly or indirectly (including through agents or attorneys), to any person or entity in connection with such person or entity’s assertion of any claim or cause of action of any kind, in court, arbitration or otherwise, against any of the Released Parties, and he shall not suggest, induce or encourage any person or entity to do so.  The foregoing sentence shall not prohibit Employee from testifying truthfully under subpoena or providing other assistance under compulsion of
law.

 

  

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14.           Employee hereby agrees to direct all inquiries, demands, requests for information or other communications regarding this Agreement to the General Counsel of BigBand Networks, Inc.  Employee shall not contact any employee of BigBand other than the individual listed above with regard to the contents hereof or any other request for information or cooperation.

 

15.           Employee agrees to respond to BigBand’s reasonable requests in connection with any existing or future litigation, arbitrations, mediations, claims or investigations brought by or against or involving BigBand or any of its affiliates, agents, officers, directors or employees, whether internal, administrative, civil or criminal in nature, in which BigBand reasonably deems Employee’s cooperation necessary or useful.  In such matters, Employee agrees to provide BigBand with advice, assistance and/or information, including explaining matters of a factual nature, providing sworn statements, participating in discovery and trial
preparation, and giving testimony.  Employee also agrees to promptly send BigBand copies of all correspondence and documents (for example, but not limited to, subpoenas) Employee receives in connection with any such legal proceeding or other matters related to BigBand.  Employee further agrees to act in good faith to furnish the information and cooperation required by this paragraph.  BigBand will act in good faith so that the requirement to furnish such information and cooperation does not create an undue hardship for Employee.

 

16.           In the event of any dispute or claim relating to or arising out of Employee’s employment relationship with BigBand, this Agreement, or the termination of Employee’s employment with BigBand, Employee and BigBand agree that all such disputes shall be fully, finally and exclusively resolved by binding arbitration conducted by a single arbitrator in Boston, Massachusetts, and further agreed that the party deemed by the arbitrator to have lost the arbitration shall be responsible for all expenses of such arbitration.  Employee and BigBand hereby knowingly and willingly waive their respective rights to have any such disputes or
claims tried to a judge or jury.  Notwithstanding the foregoing provisions of this Section 16, Employee covenants and agrees not to assert any Claims against the Released Parties, in any forum or proceeding, which Employee has released pursuant to Section 5 above.

 

17.           This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, promises, representations and warranties, both written and oral, except for the Proprietary Rights Agreement between BigBand and Employee and any stock option agreements between Employee and BigBand.  To the extent that provisions of this Agreement conflict with any other agreement between Employee and BigBand, the provisions of this Agreement shall govern.  This Agreement may not be modified or amended,
except by a document signed by a duly authorized executive officer of BigBand and Employee.

18.           In the event that any provision or portion of this Agreement is determined to be invalid or unenforceable for any reason, in whole or in part, the remaining provisions of the Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by applicable law.

19.           EMPLOYEE UNDERSTANDS THAT HE SHOULD CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT AND THAT HE IS GIVING UP ANY LEGAL CLAIMS HE HAS AGAINST BIGBAND RELEASED ABOVE BY SIGNING THIS AGREEMENT.  EMPLOYEE FURTHER UNDERSTANDS THAT HE MAY HAVE UP TO 21 DAYS TO CONSIDER THIS AGREEMENT, THAT HE MAY REVOKE IT AT ANY TIME DURING THE 7 DAYS AFTER HE SIGNS IT, AND THAT IT SHALL NOT BECOME EFFECTIVE UNTIL THAT 7-DAY PERIOD HAS PASSED.  EMPLOYEE ACKNOWLEDGES THAT HE IS SIGNING THIS AGREEMENT KNOWINGLY, WILLINGLY AND VOLUNTARILY IN EXCHANGE FOR THE PAYMENT PROVIDED FOR IN SECTION
2.

 

  

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Dated:  September 7, 2011

	
BIGBAND NETWORKS, INC.

	  	  	  
	  	
By:

	  
	  	  	
Rob Horton, General Counsel

	  	  	  
	
Dated:  September 7, 2011

	
EMPLOYEE

	  	  
	  	
Paul Crann

  

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Exhibit B

Proprietary Rights Agreement

 

 

8ex4_01.htm

EXHIBIT 4.01

 

SUPPLEMENTAL INDENTURE NO. 6

 

FROM

 

XCEL ENERGY INC.

(a Minnesota corporation)

 

TO

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

Trustee

________________________

DATED AS OF

SEPTEMBER 1, 2011

SUPPLEMENTAL TO INDENTURE

DATED AS OF DECEMBER 1, 2000

  

  

  

TABLE OF CONTENTS

 

	
Parties

	
1

	
Recitals

	
1

 

	
ARTICLE ONE

	
RELATION TO INDENTURE; DEFINITIONS

	
SECTION 1.01

	
Integral Part of Indenture

	
2

	
SECTION 1.02

	
(a)

	
Definitions

	
2

	  	
(b)

	
References to Articles and Sections

	
2

	  	
(c)

	
Terms Referring to this Supplemental Indenture

	
2

 

	
ARTICLE TWO

	
4.80% SENIOR NOTES, SERIES DUE SEPTEMBER 15, 2041

	
SECTION 2.01

	
Designation and Principal Amount

	
2

	
SECTION 2.02

	
Stated Maturity Date

	
2

	
SECTION 2.03

	
Interest Payment Dates

	
2

	
SECTION 2.04

	
Office for Payment

	
2

	
SECTION 2.05

	
Redemption Provisions

	
2

	
SECTION 2.06

	
Authorized Denominations

	
4

	
SECTION 2.07

	
Form of 4.80% Senior Notes, Series due September 15, 2041

	
4

	
SECTION 2.08

	
Reopening of Notes

	
4

 

	
ARTICLE THREE

	
MISCELLANEOUS

	
SECTION 3.01

	
Recitals of fact, except as stated, are statements of the Company

	
4

	
SECTION 3.02

	
Supplemental Indenture to be construed as a part of the Indenture

	
4

	
SECTION 3.03

	
(a)

	
Trust Indenture Act to control

	
4

	  	
(b)

	
Severability of provisions contained in Supplemental Indenture and Notes

	
4

	
SECTION 3.04

	
Reference to either party in Supplemental Indenture include successors or assigns

	
4

	
SECTION 3.05

	
(a)

	
Provision for execution in counterparts

	
5

	  	
(b)

	
Table of Contents and descriptive headings of Articles not to affect meaning

	
5

Exhibit A – Form of 4.80% Senior Notes, Series due September 15, 2041

  

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SUPPLEMENTAL INDENTURE No. 6, made as of the 1st day of September, 2011, by and between XCEL ENERGY INC., a corporation duly organized and existing under the laws of the State of Minnesota (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States, as trustee (the “Trustee”):

 

WITNESSETH:

 

WHEREAS, the Company has heretofore executed and delivered its Indenture (hereinafter referred to as the “Indenture”), made as of December 1, 2000; and

 

WHEREAS, Section 2.5 of the Indenture provides that Securities shall be issued in series and that a Company Order shall specify the terms of each series; and

 

WHEREAS, the Company has this day delivered a Company Order setting forth the terms of a series of Securities designated “4.80% Senior Notes, Series due September 15, 2041” (hereinafter sometimes referred to as the “Notes due 2041”); and

 

WHEREAS, Section 12.1 of the Indenture provides that the Company and the Trustee may enter into indentures supplemental thereto for the purposes, among others, of establishing the form of Securities or establishing or reflecting any terms of any Security and adding to the covenants of the Company; and

 

WHEREAS, the execution and delivery of this Supplemental Indenture No. 6 (herein, this “Supplemental Indenture”) have been duly authorized by a resolution or written consent adopted by the Board of Directors of the Company;

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

That in order to set forth the terms and conditions upon which the Notes due 2041 are, and are to be, authenticated, issued and delivered, and in consideration of the premises of the purchase and acceptance of the Notes due 2041 by the Holders thereof and the sum of one dollar duly paid to it by the Trustee at the execution of this Supplemental Indenture, the receipt whereof is hereby acknowledged, the Company covenants and agrees with the Trustee for the equal and proportionate benefit of the respective Holders from time to time of the Notes due 2041, as follows:

 

  

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ARTICLE ONE

RELATION TO INDENTURE; DEFINITIONS

SECTION 1.01.       This Supplemental Indenture constitutes an integral part of the Indenture.

 

SECTION 1.02.       For all purposes of this Supplemental Indenture:

 

	
(a)

	
Capitalized terms used herein without definition shall have the meanings specified in the Indenture;

 

	
(b)

	
All references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Supplemental Indenture; and

 

	
(c)

	
The terms “hereof,” “herein,” “hereby,” “hereto,” “hereunder” and “herewith” refer to this Supplemental Indenture.

 

ARTICLE TWO

4.80% SENIOR NOTES, SERIES DUE SEPTEMBER 15, 2041

SECTION 2.01.       There shall be a series of Securities designated the “4.80% Senior Notes, Series due September 15, 2041” (the “Notes due 2041”). The Notes due 2041 shall be limited to $250,000,000 aggregate principal amount except as provided in Section 2.08.

 

SECTION 2.02.       Except as otherwise provided in Section 2.05 hereof, the principal amount of the Notes due 2041 shall be payable on the stated maturity date of September 15, 2041.

 

SECTION 2.03.       The Notes due 2041 shall be dated their date of authentication as provided in the Indenture and shall bear interest from their date at the rate of 4.80% per annum, payable semi-annually on March 15 and September 15 of each year, commencing March 15, 2012. The Regular Record Dates with respect to such March 15 and September 15  interest payment dates shall be March 1 and September 1, respectively. Principal and interest shall be payable to the persons and in the manner provided in Sections 2.4 and 2.12 of the Indenture.

 

SECTION 2.04.       The Notes due 2041 shall be payable at the corporate trust office of the Trustee and at the offices of such paying agents as the Company may appoint by Company Order in the future.

 

SECTION 2.05.       At any time prior to March 15, 2041, the Company may redeem the Notes due 2041, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of such Notes due 2041 being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (excluding the portion of any such interest accrued to the date fixed for redemption), discounted to but excluding the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined
below) plus 25 basis points, plus, in each case, accrued and unpaid interest thereon to but excluding the date of redemption.  At any time on or after March 15, 2041, the Company may redeem the Notes due 2041, in whole or in part, at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the date of redemption. 

 

  

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“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes due 2041 that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such notes.

 

“Comparable Treasury Price” means (i) the average of the Reference Treasury Dealer Quotations for such date fixed for redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations for such date fixed for redemption, or (ii) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

 

“Independent Investment Banker” means each of Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. or their respective successors or, if such firms or their successors are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company.

 

“Reference Treasury Dealer” means (i) each of Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. and any other primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), designated by, and not affiliated with, Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. and their respective successors, provided, however, that if Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. or any of their respective designees ceases to be a Primary Treasury Dealer, the Company shall appoint another Primary Treasury Dealer as a substitute and (ii) any other Primary Treasury Dealer selected by the Company
after consultation with an Independent Investment Banker.

 

“Reference Treasury Dealer Quotations” means, for each Reference Treasury Dealer and any date fixed for redemption, the average, as determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference Treasury Dealer at 5:00 p.m., Eastern time, on the third business day preceding the date fixed for redemption.

 

“Treasury Yield” means, with respect to any date fixed for redemption, (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term, yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Yield will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such date fixed for redemption.  The Treasury Yield will be calculated on the third business day preceding the date fixed for redemption.

 

  

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The Notes due 2041 shall not be subject to any sinking fund.

 

SECTION 2.06.       The Notes due 2041 shall be issued in fully registered form without coupons in denominations of $1,000 and integral multiples thereof.

 

SECTION 2.07.       The Notes due 2041 shall initially be in the form attached as Exhibit A hereto.

 

SECTION 2.08        The Notes due 2041 may be reopened and additional notes of the Notes due 2041 may be issued in excess of the limitation set forth in Section 2.01, provided that such additional notes will contain the same terms (including the stated maturity date and interest rate) as the other Notes due 2041, except for the price to public and issue date. Any such additional Notes due 2041, together with the other Notes due 2041, shall constitute a single series for purposes of the Indenture.

 

ARTICLE THREE

MISCELLANEOUS

SECTION 3.01.       The recitals of fact herein and in the Notes due 2041 (except the Trustee's Certificate of Authentication) shall be taken as statements of the Company and shall not be construed as made by the Trustee.

 

SECTION 3.02.       This Supplemental Indenture shall be construed in connection with and as a part of the Indenture.

 

SECTION 3.03.

 

	
(a)

	
If any provision of this Supplemental Indenture limits, qualifies, or conflicts with another provision of the Indenture required to be included in indentures qualified under the Trust Indenture Act of 1939 (as enacted prior to the date of this Supplemental Indenture) by any of the provisions of Sections 310 to 317, inclusive, of said Act, such required provisions shall control.

 

	
(b)

	
In case any one or more of the provisions contained in this Supplemental Indenture or in the notes issued hereunder should be invalid, illegal, or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected, impaired, prejudiced or disturbed thereby.

 

  

-4-

  

SECTION 3.04.       Whenever in this Supplemental Indenture either of the parties hereto is named or referred to, this shall be deemed to include the successors or assigns of such party, and all the covenants and agreements in this Supplemental Indenture contained by or on behalf of the Company or by or on behalf of the Trustee shall bind and inure to the benefit of the respective successors and assigns of such parties, whether so expressed or not.

 

SECTION 3.05.

 

	
(a)

	
This Supplemental Indenture may be simultaneously executed in several counterparts, and all said counterparts executed and delivered, each as an original, shall constitute but one and the same instrument.  The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

	
(b)

	
The Table of Contents and the descriptive headings of the several Articles of this Supplemental Indenture were formulated, used and inserted in this Supplemental Indenture for convenience only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.

 

  

-5-

  

IN WITNESS WHEREOF, XCEL ENERGY INC. has caused this Supplemental Indenture to be signed by its President or a Vice President, and attested by its Secretary or an Assistant Secretary and WELLS FARGO BANK, NATIONAL ASSOCIATION, has caused this Supplemental Indenture to be signed by its Vice President as of this 12th day of September, 2011.

 

 

	  	
XCEL ENERGY INC.

	 
	  	  	  	 
	  	
By:   

	
/s/  George E. Tyson II

	 
	  	
Name: George E. Tyson II

	 
	  	
Title: Vice President and Treasurer

	 
	  	  	  	 
	  	  	  	 
	  	
ATTEST:

	 
	  	  	  	 
	  	
By:

	
/s/  Patrice D. Blaeser

	 
	  	
Name: Patrice D. Blaeser

	 
	  	
Title: Assistant Secretary

	 
	  	  	  	 
	  	  	  	 
	  	
WELLS FARGO BANK,

	 
	  	
NATIONAL ASSOCIATION, as Trustee

	 
	  	  	  	 
	  	
By:

	
/s/  Martin G. Reed 

	 
	  	
Name: Martin G. Reed

	 
	  	
Title: Vice President

	 

[Signature Page to the Supplemental Indenture No. 6]

  

  

  

EXHIBIT A

FORM OF

4.80% SENIOR NOTES, SERIES DUE SEPTEMBER 15, 2041

REGISTERED

THIS NOTE IS A GLOBAL SECURITY REGISTERED IN THE NAME OF THE DEPOSITORY (REFERRED TO HEREIN) OR A NOMINEE THEREOF AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL NOTES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK), TO THE TRUSTEE FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., 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.

 

XCEL ENERGY INC.

(Incorporated under the laws of the State of Minnesota)

4.80% SENIOR NOTE, SERIES DUE SEPTEMBER 15, 2041

	
CUSIP:  98389BAN0/US98389BAN01

	
NUMBER:

	  	  
	
ORIGINAL ISSUE DATE(S):

	
PRINCIPAL AMOUNT(S):

	
September 12, 2011

	
$

	  	  
	
INTEREST RATE:  4.80%

	
MATURITY DATE: September 15, 2041

XCEL ENERGY INC., a corporation of the State of Minnesota (the “Company”), for value received hereby promises to pay to Cede & Co. or registered assigns, the principal sum of _______________ DOLLARS on the Maturity Date set forth above, and to pay interest thereon from the Original Issue Date (or if this Global Security has two or more Original Issue Dates, interest shall, beginning on each such Original Issue Date, begin to accrue for that part of the principal amount to which that Original Issue Date is applicable) set forth above or from the most recent Interest Payment Date to which interest has been paid or duly
provided for, semi-annually in arrears on the on March 15 and September 15 in each year, commencing March 15, 2012, at the per annum Interest Rate set forth above, until the principal hereof is paid or made available for payment. No interest shall accrue on the Maturity Date, so long as the principal amount of this Global Security is paid on the Maturity Date. The interest so payable and punctually paid or duly provided for on any such Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Regular Record Date for such interest, which shall be the March 1 or September 1, as the case may be, next preceding such Interest Payment Date; provided, that the first Interest Payment Date for any part of this Note, the Original Issue Date of which is after a Regular Record Date but prior to the
applicable Interest Payment Date, shall be the Interest Payment Date following the next succeeding Regular Record Date; and provided, that interest payable on the Maturity Date set forth above or, if applicable, upon redemption or acceleration, shall be payable to the Person to whom principal shall be payable. Except as otherwise provided in the Indenture (as defined below), any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and shall be paid to the Person 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, notice whereof shall be given to Securityholders not more than fifteen days or fewer than ten days prior to such Special Record Date. On or before Noon, New York City time, or such other time
as shall be agreed upon between the Trustee and the Depository, of the day on which such payment of interest is due on this Global Security (other than maturity), the Trustee shall pay to the Depository such interest in same day funds. On or before 11:30 a.m., New York City time, or such other time as shall be agreed upon between the Trustee and the Depository, of the day on which principal, interest payable at maturity and premium, if any, is due on this Global Security and following receipt of the necessary funds from the Company, the Trustee shall deposit with the Depository the amount equal to the principal, interest payable at maturity and premium, if any, by wire transfer into the account specified by the Depository. As a condition to the payment, on the Maturity Date or upon redemption or acceleration, of any part of the principal and applicable premium of this Global Security,
the Depository shall surrender, or cause to be surrendered, this Global Security to the Trustee, whereupon a new Global Security shall be issued to the Depository.

 

  

-A-1-

  

 

This Global Security is a global security in respect of a duly authorized issue of Senior Notes, Series due September 15, 2041 (the “Notes of this Series,” which term includes any Global Securities representing such Notes) of the Company issued and to be issued under an Indenture dated as of December 1, 2000 between the Company and Wells Fargo Bank, National Association, as trustee (herein called the “Trustee,” which term includes any successor Trustee under the Indenture) and indentures supplemental thereto (collectively, the “Indenture”). Under the Indenture, one or more series of Securities may be issued and, as used herein, the term “Securities” refers to the
Notes of this Series and any other outstanding series of Securities. Reference is hereby made to the Indenture for a more complete statement of the respective rights, limitations of rights, duties and immunities under the Indenture of the Company, the Trustee and the Securityholders and of the terms upon which the Securities are and are to be authenticated and delivered. This Global Security has been issued in respect of the series designated on the first page hereof.

 

Each Note of this Series shall be dated and issued as of the date of its authentication by the Trustee and shall bear an Original Issue Date or Dates. Each Security or Global Security issued upon transfer, exchange or substitution of such Security or Global Security shall bear the Original Issue Date or Dates of such transferred, exchanged or substituted Security or Global Security, as the case may be.

 

  

-A-2-

  

At any time prior to March 15, 2041, the Company may redeem the Notes of this Series, in whole or in part, at a redemption price equal to the greater of (i) 100% of the principal amount of such Notes of this Series being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (excluding the portion of any such interest accrued to the date fixed for redemption), discounted to but excluding the date fixed for redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Yield (as defined below) plus 25 basis points, plus, in each case, accrued and unpaid interest thereon to but
excluding the date of redemption.  At any time on or after March 15, 2041, the Company may redeem the Notes of this Series, in whole or in part, at 100% of the principal amount being redeemed plus accrued and unpaid interest thereon to but excluding the date of redemption.   

 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of the Notes of this Series that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such notes.

 

“Comparable Treasury Price” means (i) the average of the Reference Treasury Dealer Quotations for such date fixed for redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations for such date fixed for redemption, or (ii) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such Reference Treasury Dealer Quotations.

 

“Independent Investment Banker” means each of Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. or their respective successors or, if such firms or their successors are unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Company.

 

“Reference Treasury Dealer” means (i) each of Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. and any other primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), designated by, and not affiliated with, Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. and their respective successors, provided, however, that if Barclays Capital Inc., Morgan Stanley & Co. LLC or RBS Securities Inc. or any of their respective designees ceases to be a Primary Treasury Dealer, the Company shall appoint another Primary Treasury Dealer as a substitute and (ii) any other Primary Treasury Dealer selected by the Company
after consultation with an Independent Investment Banker.

 

“Reference Treasury Dealer Quotations” means, for each Reference Treasury Dealer and any date fixed for redemption, the average, as determined by an Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to an Independent Investment Banker by the Reference Treasury Dealer at 5:00 p.m., Eastern time, on the third business day preceding the date fixed for redemption.

 

  

-A-3-

  

“Treasury Yield” means, with respect to any date fixed for redemption, (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded U.S. Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the remaining term, yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury Yield will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such date fixed for redemption.  The Treasury Yield will be calculated on the third business day preceding the date fixed for redemption.

 

Notice of redemption will be given by mail to Holders of Notes of this Series not less than 30 or more than 60 days prior to the date fixed for redemption, all as provided in the Indenture. In the event of redemption of this Global Security in part only, a new Global Security or Securities of like tenor and series for the unredeemed portion hereof will be issued in the name of the Securityholder hereof upon the surrender hereof.

 

Interest payments for this Global Security shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In any case where any Interest Payment Date or date on which the principal of this Global Security is required to be paid is not a Business Day, then payment of principal, premium or interest need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date or date on which the principal of this Global Security is required to be paid and, in the case of timely payment thereof, no interest shall accrue for the period from and after such Interest Payment Date or the date on which the principal of this
Global Security is required to be paid.

 

The Company, at its option, and subject to the terms and conditions provided in the Indenture, will be discharged from any and all obligations in respect of the Securities (except for certain obligations including obligations to register the transfer or exchange of Securities, replace stolen, lost or mutilated Securities, maintain paying agencies and hold monies for payment in trust, all as set forth in the Indenture) if the Company deposits with the Trustee money, U.S. Government Obligations which through the payment of interest thereon and principal thereof in accordance with their terms will provide money, or a combination of money and U.S. Government Obligations, in any event in an amount sufficient,
without reinvestment, to pay all the principal of and any premium and interest on the Securities on the dates such payments are due in accordance with the terms of the Securities.

 

If an Event of Default shall occur and be continuing, the principal of the Securities may be declared due and payable in the manner and with the effect provided in the Indenture.

 

  

-A-4-

  

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modifications of the rights and obligations of the Company and the rights of the Securityholders under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in principal amount of the outstanding Securities. Any such consent or waiver by the Holder of this Global Security shall be conclusive and binding upon such Holder and upon all future Holders of this Global Security and of any Note issued upon the registration of transfer hereof or in exchange therefor or in lieu thereof whether or not notation of such consent or waiver is made upon the
Note.

 

As set forth in and subject to the provisions of the Indenture, no Holder of any Securities will have any right to institute any proceeding with respect to the Indenture or for any remedy thereunder unless such Holder shall have previously given to the Trustee written notice of a continuing Event of Default with respect to such Securities, the Holders of not less than a majority in principal amount of the outstanding Securities affected by such Event of Default shall have made written request and offered reasonable indemnity to the Trustee to institute such proceeding as Trustee and the Trustee shall have failed to institute such proceeding within 60 days; provided, however, that such limitations do not apply
to a suit instituted by the Holder hereof for the enforcement of payment of the principal of and any premium or interest on this Note on or after the respective due dates expressed herein.

 

No reference herein to the Indenture and to provisions of this Global Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Global Security at the times, places and rates and the coin or currency prescribed in the Indenture.

 

As provided in the Indenture and subject to certain limitations therein set forth, this Global Security may be transferred only as permitted by the legend hereto.

 

If at any time the Depository for this Global Security notifies the Company that it is unwilling or unable to continue as Depository for this Global Security or if at any time the Depository for this Global Security shall no longer be eligible or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, the Company shall appoint a successor Depository with respect to this Global Security. If a successor Depository for this Global Security is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such ineligibility, the Company's election to issue this Note in global form shall no longer be effective with
respect to this Global Security and the Company will execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of individual Notes of this Series in exchange for this Global Security, will authenticate and deliver individual Notes of this Series of like tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of this Global Security.

 

The Company may at any time and in its sole discretion determine that all Notes of this Series (but not less than all) issued or issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event, the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of individual Notes of this Series in exchange for such Global Security, shall authenticate and deliver, individual Notes of this Series of like tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of such Global Security or Securities in exchange for such Global Security or
Securities.

 

  

-A-5-

  

Under certain circumstances specified in the Indenture, the Depository may be required to surrender any two or more Global Securities which have identical terms (but which may have differing Original Issue Dates) to the Trustee, and the Company shall execute and the Trustee shall authenticate and deliver to, or at the direction of, the Depository a Global Security in principal amount equal to the aggregate principal amount of, and with all terms identical to, the Global Securities surrendered thereto and that shall indicate all Original Issue Dates and the principal amount applicable to each such Original Issue Date.

 

The Indenture and the Securities shall be governed by, and construed in accordance with, the laws of the State of Minnesota.

 

Unless the certificate of authentication hereon has been executed by the Trustee, directly or through an Authenticating Agent by manual signature of an authorized officer, this Global Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 

All terms used in this Global Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise indicated herein.

 

  

-A-6-

  

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

 

	  	
XCEL ENERGY INC.

	 
	  	  	  	 
	  	  	  	 
	  	
By:

	
 

	 
	  	
Name:

	 
	  	
Title:

	 
	  	  	  	 
	  	  	  	 
	  	
ATTEST

	 
	  	  	  	 
	  	  	  	 
	  	
By:

	
 

	 
	  	
Name:

	 
	  	
Title:

	 

TRUSTEE'S CERTIFICATE

OF AUTHENTICATION

This Note is one of the Securities of the series herein designated, described or provided for in the within-mentioned Indenture.

Dated:  September ___, 2011

	  	
WELLS FARGO BANK,

	 
	  	
NATIONAL ASSOCIATION, as Trustee

	 
	  	  	 
	  	
By:

	
 

	 
	 	 	
Authorized Officer

	 

  

-A-7-

  

ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations.

 

	
TEN COM--as tenants in common

	
UNIF GIFT

	  	  	  
	
 

	
MIN ACT --

	
 

	
Custodian

	
 

	  	  	
(Cust)

	  	
(Minor)

	
TEN ENT--as tenants by the entireties

	
Under Uniform Gifts to Minors

	
JT TEN--as joint tenants with right of

	
 

	
survivorship and not as tenants in common

	
State

Additional abbreviations may also be

used though not in the above list.

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

the within security and all rights thereunder, hereby irrevocably constituting and appointing ____ _________________  attorney to transfer said security on the books of the Company, with full power of substitution in the premises.

Dated:

NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever.

 

 

-A-8-

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