Document:

Exhibit

EXECUTIVE EMPLOYMENT AGREEMENT
This Executive Employment Agreement (this “Agreement”) is entered into by and between Timothy Knight (“Executive”), an individual, and Tribune Interactive, LLC (the “Company”), a Delaware limited liability company.  In consideration of the mutual promises and covenants contained herein, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Executive and the Company (collectively the “Parties” and as to each or either, a “Party”) agree as follows:
1.EMPLOYMENT TERM.  
The term of Executive’s employment hereunder shall commence on February 23, 2017 (the “Effective Date”) and, unless terminated pursuant to Section 8 below, shall continue through February 22, 2019 (the “Employment Term”).
2.FREEDOM TO ENTER INTO THIS AGREEMENT.  
Executive represents and covenants that: (a) the execution, delivery and performance of this Agreement by Executive does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which Executive is bound; and (b) Executive is not a party to or bound by any employment agreement, noncompetition agreement, non-solicitation agreement, confidentiality agreement or other agreement or obligation with any other person or entity that would in any way restrict or otherwise affect Executive’s performance of this Agreement.
3.TITLE AND EMPLOYMENT DUTIES.  During the Employment Term and subject to the terms of this Agreement:
(a)    Executive’s title will be President troncX. Executive will have such duties and responsibilities as are customarily exercised by someone serving in such a capacity as well as such other duties commensurate with Executive’s title and position as the Company may assign Executive from time to time.
(b)    Executive agrees to devote Executive’s full business time, attention, and energies to the business of the Company and further agrees that Executive will perform Executive’s duties in a diligent, lawful and trustworthy manner, that Executive will act in accordance with Executive’s title and responsibilities and that Executive will act in accordance with the written business and employee policies and practices of the Company as applicable.
(c)    Executive will be based in and will work out of the Company’s office in Chicago, Illinois.  Executive acknowledges that significant travel will be required.
4.COMPENSATION.  During the Employment Term and subject to the terms of this Agreement:
(a)Base Salary.  For the services rendered by Executive under this Agreement, the Company will pay Executive a gross base salary of Six Hundred Thousand Dollars and Zero 

Cents ($600,000) per annum (the “Base Salary”).  Executive’s Base Salary shall be payable, less all authorized or required deductions, in accordance with the Company’s then-effective payroll practices.  The Company will periodically review Executive’s salary and may provide for salary increases during the Employment Term, such increases to be given, if given, in the discretion of the Company.   In the event that Executive’s Base Salary is increased by the Company in its discretion at any time during the Employment Term, such increased amount shall thereafter constitute the Base Salary. 
(b)Bonus.  Subject to Section 8 below, Executive shall have the opportunity to earn a discretionary annual management incentive bonus (“Annual Bonus”), with a target bonus opportunity of one-hundred percent (100%) of Executive’s Base Salary (the “Target Bonus”) under a bonus plan established by the Company, and based upon the achievement of annual Company and individual performance objectives as established by the Company.  The Annual Bonus payable for any calendar year shall be paid, if paid, less all required or authorized deductions, at the time and in the manner such bonuses are paid to other similarly situated executives receiving annual bonus payments, in the calendar year following the year for which the bonus was earned, but in no event later than June 30 of the year following the year for which the bonus was earned.  The first Annual Bonus the employee will be eligible to participate in will be for fiscal year 2017 and will not be prorated based on the Executive’s hire date. 
(c)Equity Compensation.  Upon the effective date of this Employment Agreement, Employee shall be granted a combination of 187,500 restricted stock units (“RSUs”) and 112,500 nonqualified stock options (“Options”) in tronc common stock.  The RSUs and Options shall be subject to such other terms as set forth in the applicable grant agreement and in the underlying equity plan as adopted by tronc, Inc.  Except as specifically provided otherwise in the grant agreement, all unvested Options and RSUs shall terminate immediately upon termination of Employee’s employment for any reason and all vested Options shall terminate immediately upon termination of Employee’s employment by the Company with Cause, as defined below.  The RSUs and Options will serve as the sole long-term equity incentive award for the term of this agreement.
(d)Relocation Cash Allowance.  The Company will provide Employee with a relocation cash allowance for the relocation from Cleveland, Ohio to Chicago, Illinois. The payment will be made in a lump sum cash payment of Two Hundred Twenty Six Thousand Five Hundred Dollars and No Cents ($226,500) to be paid in the first payroll cycle after your start date.  Any relocation costs in excess of the cash allowance will be Employee’s sole responsibility. In the event Employee resigns (other than for Good Reason) or the Company terminates the employee for Cause within the first 24 months of the Employee’s hire date, Employee will immediately repay the entire relocation cash allowance  to the Company.  Notwithstanding the foregoing, in the event of termination of Employee’s employment without Cause, or Employee’s death, or Employee’s resignation for Good Reason, the foregoing amount shall be considered earned in full and no portion thereof shall be repaid to the Company.
5.BENEFITS.
(a)While employed by the Company, Executive shall be entitled to participate in the benefit plans and programs (including without limitation such medical, dental, vision, life, 

disability, retirement and other health and welfare plans), as the Company may have or establish from time to time for its employees in which Executive would be entitled to participate pursuant to their then-existing terms, in accordance with the terms and requirements of such plans.  The foregoing, however, is not intended and shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established, and no such action or failure thereof shall affect this Agreement.  It is further understood and agreed that all benefits Executive may be entitled to while employed by the Company shall be based upon Executive’s Base Salary and not upon any bonus, incentive or equity compensation due, payable, or paid to Executive, except where, if at all, the benefit plan provides otherwise.
(b)Executive will be eligible to receive time off to be scheduled and approved in advance and taken in accordance with the Company’s policies and practices.
6.BUSINESS EXPENSES.  
During the Employment Term, the Company shall reimburse Executive for reasonable travel and other expenses incurred in the performance of Executive’s duties hereunder as are customarily reimbursed to employees in accordance with the then-applicable expense reimbursement policies of the Company. 
7.RESTRICTIVE AGREEMENTS.
(a)No Conflicting Activities.  During Executive’s employment with the Company (whether or not such employment continues beyond the Employment Term), Executive agrees that Executive’s employment is on an exclusive basis and that Executive: i) will not engage in any activity which is in conflict with Executive’s duties and obligations hereunder, whether or not such activity is pursued for gain, profit, or other pecuniary advantage; and ii) will not engage in any other activities which could harm the business or reputation of the Company or any of its affiliates.
(b)Employee Non-Solicitation and Non-Interference.  Executive agrees that during Executive’s employment with the Company (whether or not such employment continues beyond the Employment Term) and for twelve (12) months after the date on which Executive’s employment with the Company ends for any or no reason (whether terminated by Executive or by the Company), except as required in the performance of Executive’s duties for the Company, Executive will not: i) solicit, either directly or indirectly, any person employed by, or previously employed by, the Company or any of its affiliates unless at such time such person is not then and has not been employed by the Company or any of its subsidiaries, business units, or other affiliates for at least six (6) months, to terminate or refrain from renewing or extending their employment with the Company or any of its subsidiaries, business units, or other affiliates; or ii) use Confidential Information to, directly or indirectly, interfere with the relationship of the Company with any person or entity who or which is a customer, client, supplier, developer, subcontractor, licensee or licensor or other business relation of the Company, or assist any other person or entity in doing so.  
(c)Confidentiality.  As a consequence of Executive’s employment by the Company, Executive will be privy to the highest level of confidential and proprietary business 

information of the Company and its affiliates, not generally known by the public or within the industry and which, thereby, gives the Company and its affiliates a competitive advantage and which has been the subject of reasonable efforts by the Company and its affiliates to maintain such confidentiality.  Except as required by law or as expressly authorized by the Company in furtherance of Executive’s employment duties, Executive shall not at any time, during Executive’s employment with the Company (whether or not such employment continues beyond the Employment Term) or thereafter, directly or indirectly use, disclose, or take any action which may result in the use or disclosure of, any Confidential Information.  “Confidential Information” as used in this Agreement, includes all non-public confidential competitive, pricing, marketing, proprietary and other information or materials relating or belonging to the Company or any of its affiliates (whether or not reduced to writing), including without limitation all confidential or proprietary information furnished or disclosed to or otherwise obtained by Executive in the course of Executive’s employment, and further includes without limitation: computer programs; patented or unpatented inventions, discoveries and improvements; marketing, organizational, operating and business plans; strategies; research and development; policies and manuals; sales forecasts; personnel information (including without limitation the identity of Company employees, their responsibilities, competence and abilities, and compensation); medical information about employees; pricing and nonpublic financial information; current and prospective customer lists and information on customers or their employees; information concerning planned or pending acquisitions, investments or divestitures; and information concerning purchases of major equipment or property.  Confidential Information does not include information that lawfully is or becomes generally and publicly known outside of the Company and its affiliates other than through Executive’s breach of this Agreement or breach by any person of some other obligation.  Nothing herein prohibits Executive from disclosing Confidential Information as legally required pursuant to a validly issued subpoena or order of a court or administrative agency of competent jurisdiction, provided that Executive shall first promptly notify the Company if Executive receives a subpoena, court order or other order requiring any such disclosure, to allow the Company to seek protection therefrom in advance of any such legally compelled disclosure.
(d)Inventions.  Executive hereby acknowledges and agrees that the Company owns the sole and exclusive right, title and interest in and to any and all Works (as defined below), including without limitation all copyrights, trademarks, service marks, trade names, slogans, inventions (whether patentable or not), patents, trade secrets and other intellectual property and/or proprietary rights therein, including without limitation all rights to sue for infringement thereof (collectively, “IP Rights”).  The Company’s right, title and interest in and to the Works includes, without limitation, the sole and exclusive right to secure and own copyrights and maintain renewals throughout the world, the right to modify and create derivative works of or from the Works without any payment of any kind to Executive, and the right to exclusively register or record any IP Rights in the Works in the Company’s name.  Executive agrees that all Works shall be “works made for hire” for the Company as that term is defined in the copyright laws of the United States or other applicable laws.  To the extent that any of the Works is determined not to constitute a work made for hire, or if any rights in any of the Works do not accrue to the Company as a work made for hire, Executive agrees that Executive’s signature on this Agreement constitutes an assignment (without any further consideration) to the Company of any and all of Executive’s respective IP Rights and other rights, title and interest in and to any and all Works.  “Works” means any inventions, invention 

disclosures, developments, improvements, trade secrets, brands, logos, drawings, trademarks, service marks, trade names, documents, memoranda, data, software programs, object code, source code, ideas, original works of authorship, or other information that Executive conceives, creates, develops, discovers, makes or acquires, in whole or in part, either solely or jointly with another or others, during or pursuant to the course of Executive’s employment by the Company or its affiliates, and that relate directly or indirectly to the Company or any of its affiliates or their respective businesses, or to the Company’s or any of its affiliates’ actual or demonstrably anticipated research or development, and that are made through the use of any of the Company’s or any of its affiliates’ equipment, facilities, supplies, trade secrets or time, or that result from any work performed for the Company or any of its affiliates, or that is based on any information of, or provided to Executive by, the Company or any of its affiliates. Executive hereby is and has been notified by the Company, and understands that the foregoing provisions of this Section 7(d), shall not apply to an invention that Executive developed entirely on Executive’s own time without using the Company’s equipment, supplies, facilities, or trade secret information except for those inventions that either: (1) relate at the time of conception or reduction to practice of the invention to the Company’s business, or actual or demonstrably anticipated research or development of the Company; or (2) result from any work performed by Executive for the Company or any of its affiliates.
(e)Reasonableness of Restrictions.  It is mutually agreed and stipulated between Executive and the Company that the covenants set forth in Sections 7(a) through 7(d) of this Agreement are necessary to protect the legitimate business interests of the Company and its affiliates and are reasonable, including without limitation in time and scope. 
(f)Remedies.  The amount of actual or potential damages resulting from Executive’s breach of any provision of Section 7(a) through 7(d) of this Agreement will be inherently difficult to determine with precision and, further, any breach could not be reasonably or adequately compensated in money damages.  Accordingly, any breach by Executive of any provision of Section 7(a) through 7(d) of this Agreement will result in immediate and irreparable injury and harm to the Company and its affiliates for which the Company and its affiliates will have no adequate remedy at law.  The Company and/or its affiliates, thus, will be entitled to temporary, preliminary and permanent injunctive relief to prevent any such actual or threatened breach, without posting a bond or other security.  The Company’s and/or its affiliates’ resort to such equitable relief will not waive any other rights that any of them may have to damages or other relief, and the Company and/or its affiliates shall be entitled to reasonable attorney’s fees and costs incurred in such an action.  
8.TERMINATION/POST-TERMINATION PAYMENTS.  
Either Executive or the Company may terminate Executive’s employment with the Company (the effective date of separation being the “Termination Date”) for any reason or no reason, subject to the following:
(a)Death.  This Agreement, except for Section 7(d) above and this Section 8(a), will automatically terminate if Executive dies.  In such case, (i) the benefits available to Executive’s estate, heirs and beneficiaries shall be determined in accordance with the applicable benefit plans and programs then in effect; and (ii) within sixty (60) days of the date of death, the Company shall pay Executive any unpaid Base Salary and any other amounts due under this 

Agreement through the date of death.  Except as set forth above, the Company shall not have any further obligations under this Agreement.  This Agreement, except for Section 7(d) above and this Section 8(a), will not survive Executive’s death, and will not inure to the benefit of Executive’s heirs, assigns and/or designated beneficiaries.
(b)Termination by the Company for Cause or Termination by Executive Without Good Reason.  Upon termination for Cause, or termination by Executive without Good Reason, except for such other obligations as may be required by law, the Company shall have no obligation to Executive other than the payment of Executive’s earned and unpaid Base Salary as of the Termination Date.  For purposes of this Agreement, “Cause” shall be determined by the Company in its unfettered good faith discretion, but shall mean the occurrence of any one or more of the following (it being acknowledged and agreed that a Disability of the Executive shall not be deemed to be Cause):
i.a material failure by Executive to perform Executive’s duties of employment in a manner reasonably satisfactory to the Company after having been notified in writing of such specific performance deficiencies and having not less than thirty (30) days to correct the deficiencies;
ii.failure or refusal to implement or follow reasonable and lawful directives of the Company, if such breach is not cured (if curable) within 20 days after written notice thereof to the Executive by the Company;
iii.a material breach of any material provisions of this Agreement, or a material violation of the then existing policies, procedures or rules of the Company, as applicable, if such breach is not cured (if curable) within 20 days after written notice thereof to the Executive by the Company; 
iv.the commission of an act of fraud, embezzlement, theft, material misappropriation (whether or not related to employment with the Company) or the commission of or nolo contendere or guilty plea to any felony; or
v.intentional misconduct materially injurious to the Company, its affiliates or subsidiaries, either monetarily or otherwise.

—————————
1“Disability” means Executive would be entitled to long-term disability benefits under the Company’s long term disability plan as in effect from time to time, without regard to any waiting or elimination period under such plan and assuming for the purpose of such determination that Executive is actually participating in such plan at such time. If the Company does not maintain a long-term disability plan, “Disability” means Executive’s inability to perform Executive’s duties and responsibilities hereunder due to physical or mental illness or incapacity that is expected to last for a consecutive period of 90 days or for a collective period of 120 days in any 365 day period as determined by the Company in its good faith judgment.  

(c)    Termination By the Company Without Cause or Termination by Executive With Good Reason.  Executive’s employment may be terminated at any time by the Company with or without Cause, or by the Executive with or without Good Reason as defined in Exhibit A.  If during (and not after) the Employment Term, i) the Company terminates Executive’s employment other than for Cause or Disability or if Executive resigns for Good Reason, the Company will provide Executive within ten (10) days after the date on which Executive’s employment terminates with a Waiver and General Release of any and all legally-waivable claims against the Company and its past, present, and future parents, divisions, subsidiaries, partnerships, other affiliates, and other related entities (whether or not they are wholly owned); and the past, present, and future owners, trustees, fiduciaries, administrators, shareholders, directors, officers, partners, agents, representatives, members, associates, employees, and attorneys of each entity listed above in a form reasonably acceptable to the Company (a “Waiver”), and provided that on or within twenty one (21) days after the date on which Executive receives the Waiver or such longer period as may be applicable under the Age Discrimination in Employment Act, as amended (“ADEA”), Executive: i) signs, dates and returns the Waiver to the Company; and ii) then does not revoke the Waiver in accordance with its terms, the Company will, as liquidated damages, pay (or commence paying, as the case may be) Executive as consideration not later than fifteen (15) days following the expiration (without revocation) of the revocation period applicable to Executive’s release of ADEA  claims: (x) an amount equal to Executive’s Base Salary remaining due under the Employment Term, less all required or authorized deductions, which shall be payable in bi-weekly installments over the remainder of the Employment Term; (y) any unpaid Annual Bonus with respect to the calendar year immediately preceding the calendar year of termination of employment; and (z) a pro-rata amount of the Annual Bonus based on actual performance with respect to the calendar year of termination of employment, based on the number of days worked in such calendar year, said pro-rated Annual Bonus payment to be made at the time and in the same manner as other executive officers of the of the Company (collectively, the “Severance Benefits”). 
(d)    The Parties further agree that the Company’s payment of Severance Benefits pursuant to Section 8(c) precludes Executive from eligibility for or entitlement to any and all other payments, including but not limited to compensation, benefits or perquisites, subject to any benefits that may be vested under the terms of applicable benefit plans in which Executive participates.  Notwithstanding any other provision of this Agreement, Executive shall not participate in or be eligible under (and Executive hereby waives participation in) any other severance or severance-related plan or program of the Company or any of its affiliates in effect at any time (whether Executive’s employment terminates or is terminated with or without Cause during the Employment Term).
(e)    Notwithstanding the preceding, if the review and revocation period for the Waiver following Executive’s termination of employment spans two calendar years, the Severance Benefits shall be paid within the first 10 calendar days in the calendar year following the year of termination of employment rather than the calendar year of termination of employment to the extent necessary to have such amounts comply with or be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

9.Compliance with IRS Code Section 409A.  
It is intended that any amounts and benefits payable under this Agreement will be exempt from or comply with Section 409A of the Code, so as not to subject Executive to the payment of any interest and tax penalty which may be imposed under Section 409A of the Code, and this Agreement shall be interpreted and construed accordingly, provided, however, that the Company and its affiliates shall not be responsible for any such interest and tax penalties.  All references in this Agreement to Executive’s termination of employment shall mean a separation from service within the meaning of Section 409A of the Code.  The timing of the payments or benefits provided herein may be modified to so comply with Section 409A of the Code.  Any reimbursement payable to Executive pursuant to this Agreement shall be conditioned on the submission by Executive of all expense reports reasonably required by the Company under any applicable expense reimbursement policy, and shall be paid to Executive in accordance with Company practices following receipt of such expense reports (or invoices), but in no event later than the last day of the calendar year following the calendar year in which Executive incurred the reimbursable expense.  Notwithstanding any other provision in this Agreement, if on the date of Executive’s separation from service (as defined in Section 409A of the Code) (i) the Company or any of its affiliates is a publicly traded corporation and (ii) Executive is a “specified employee,” as defined in Section 409A of the Code, then to the extent any amount payable under this Agreement upon Executive’s separation from service constitutes the payment of nonqualified deferred compensation, within the meaning of Section 409A of the Code, that under the terms of this Agreement would be payable prior to the six (6) month anniversary of Executive’s separation from service, such payment shall be delayed until the earlier to occur of (x) the first day of the month following the six (6) month anniversary of Executive’s separation from service or (y) the date of Executive’s death.
10.NOTICES.  
Any notice, request, or other communication required or permitted to be given hereunder shall be made to the following addresses or to any other address designated by either of the parties hereto by notice similarly given: (a) if to the Company, to Tribune Publishing Company, c/o Chief Executive Officer, 435 N. Michigan Avenue, Chicago, IL 60611; and (b) if to Executive, to Executive’s last known home address in the Company’s records.  All such notices, requests, or other communications shall be sufficient if made in writing either (i) by personal delivery to the party entitled thereto, (ii) by certified mail, return receipt requested, or (iii) by express courier service with proof of delivery, and shall be effective upon personal delivery, upon the fourth (4th) day after mailing by certified mail, or upon the second (2nd) day after sending by express courier service.
11.COMPANY PROPERTY.  
Except as required in furtherance of Executive’s employment, Executive will not remove from the Company’s premises any property of the Company or its affiliates, including without limitation any documents or things containing any Confidential Information, computer programs and drives or storage devices of any kind (portable or otherwise), files, forms, notes, records, charts, or any copies thereof (collectively, “Property”).  Upon any termination at any time by either party of Executive’s employment for any or no reason, Executive shall return to the 

Company, and shall not alter, delete or destroy, any and all Property, including without limitation any and all laptops and other computer equipment, iPhones, iPads, laptops, blackberries and similar devices, cellphones, credit cards, keys and other access cards, and electronic and hardcopy files.  
Executive further agrees that, upon termination, Executive will conduct a diligent search of all of the electronic documents and information, electronic devices (including, without limitation, computers, hard drives, flash drives, and mobile devices), remote and virtual storage and file systems, emails and email accounts, voicemails, text messages, instant messaging conversations and systems, and any other devices, facilities, systems, accounts, or media that has electronic data storage or saving capabilities, in Executive’s possession, custody, or control, for any copies or iterations of confidential information, and forward a copy of the same to the Company, and then delete any copies of any such items from Executive’s accounts, systems, or devices.
12.NON-DISPARAGEMENT.  
Executive agrees that Executive will not at any time during Executive’s employment with the Company (whether or not such employment continues beyond the Employment Term) or thereafter take (directly or indirectly, individually or in concert with others) any actions or make any communications calculated or likely to have the effect of materially undermining, disparaging or otherwise reflecting negatively upon the reputation, goodwill, or standing in the community of the Company, or any of its respective subsidiaries, business units, other affiliates, officers, directors, employees and/or agents, provided that nothing herein shall prohibit Executive from giving truthful testimony or evidence to a governmental entity, or if properly subpoenaed or otherwise required to do so under applicable law.
13.ASSIGNMENT.  
This is an Agreement for the performance of personal services by Executive and may not be assigned by Executive.  This Agreement may be assigned or transferred to, and shall be binding upon and shall inure to the benefit of: (a) the Company, or its subsidiaries, business units, or other affiliates and its/their respective legal successors; and (b) any person or entity that at any time (whether by merger, purchase or otherwise) acquires any of the assets, ownership interests, or business of the Company. 
14.CERTAIN CHANGE IN CONTROL PAYMENTS. 
Notwithstanding any provision of this Agreement to the contrary, if any payments or benefits Executive would receive from the Company under this Agreement or otherwise in connection with the Change in Control (the “Total Payments”) (a) constitute “parachute payments” within the meaning of Section 280G of the Code, and (b) but for this Section 14, would be subject to the excise tax imposed by Section 4999 of the Code, then Executive will be entitled to receive either i) the full amount of the Total Payments or ii) a portion of the Total Payments having a value equal to $1 less than three (3) times such individual’s “base amount” (as such term is defined in Section 280G(b)(3)(A) of the Code), whichever of i) and ii), after taking into account applicable federal, state, and local income taxes and the excise tax imposed by Section 4999 of the Code, results in the receipt by such Executive on an after­-tax basis, of the greatest portion of the Total 

Payments. Any determination required under this Section 14 shall be made in writing by the accountant or tax counsel selected by the Executive.  If there is a reduction pursuant to this Section 14 of the Total Payments to be delivered to the applicable Executive and to the extent that an ordering of the reduction other than by the Executive is required by Section 9 or other tax requirements, the payment reduction contemplated by the preceding sentence shall be implemented by determining the “Parachute Payment Ratio” (as defined below) for each “parachute payment” and then reducing the “parachute payments” in order beginning with the “parachute payment” with the highest Parachute Payment Ratio. For “parachute payments” with the same Parachute Payment Ratio, such “parachute payments” shall be reduced based on the time of payment of such “parachute payments,” with amounts having later payment dates being reduced first.  For “parachute payments” with the same Parachute Payment Ratio and the same time of payment, such “parachute payments” shall be reduced on a pro rata basis (but not below zero) prior to reducing “parachute payments” with a lower Parachute Payment Ratio. For purposes hereof, the term “Parachute Payment Ratio” shall mean a fraction the numerator of which is the value of the applicable “parachute payment” for purposes of Section 280G of the Code and the denominator of which is the actual present value of such payment.
15.GOVERNING LAW; INTERPRETATION OF THE AGREEMENT; ARBITRATION.  
This Agreement shall be construed and interpreted in accordance with the laws of the State of Illinois (without giving effect to the choice of law principles thereof).  Executive and the Company acknowledge that each party had an equal opportunity to review and/or modify the provisions set forth in this Agreement.  Thus, in the event of any misunderstanding, ambiguity or dispute concerning this Agreement’s provisions or their interpretation, no rule of construction shall be applied that would result in having this Agreement interpreted against either party.  The language of all parts in this Agreement shall be construed as a whole, according to fair meaning, and not strictly for or against any party.  The headings provided in boldface are inserted for the convenience of the parties and shall not be construed to limit or modify the text of this Agreement.  The Parties agree that any disputes concerning, relating to, or arising out of this Agreement or its interpretation, Executive’s employment with or termination from the Company, or any other dispute between the Parties (except as excluded pursuant to this Section), shall be resolved by arbitration in accordance with the Company’s arbitration policy as may be in effect from time to time.  Notwithstanding the foregoing, Executive and the Company understand and agree that nothing shall prevent the Company from seeking and obtaining injunctive relief in federal or state court (or any court corresponding to Executive’s residence) in the event of a breach or threatened breach of any of Executive’s obligations under Section 7 of this Agreement.
16.COMPLETE AGREEMENT.  
This Agreement embodies the entire agreement and understanding of the Parties hereto with regard to the matters described herein and supersedes any and all prior and/or contemporaneous agreements and understandings, oral or written, actual or alleged, between said Parties regarding such matters, including without limitation concerning Executive’s compensation arrangements or other terms and conditions of employment (if any), and any actual or alleged prior 

employment agreements with or involving the Company or any of its affiliates.  This Agreement cannot be amended, modified, supplemented, or altered except by written amendment signed by Executive and another authorized officer of the Company. 
17.SEVERABILITY/REFORMATION.  
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law.  If any provision of this Agreement is found by a court of competent jurisdiction to be unreasonable or otherwise unenforceable, it is the purpose and intent of the parties that any such provision be deemed modified or limited so that, as modified or limited, such provision may be enforced to the fullest extent possible.  If any provision of this Agreement is held to be prohibited by or invalid under applicable law (notwithstanding any attempted modification or limitation pursuant to the preceding sentence), such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.
18.SURVIVAL.  
Except as provided in Section 8(a) above, the provisions of Section 2 and of Sections 7 through 18 (inclusive) of this Agreement shall survive any expiration of the Employment Term and any termination of Executive’s employment at any time (whether during or after the Employment Term) by either party with or without Cause, and shall not be limited or discharged by any alleged breach or misconduct on the part of the Company.
19.MISCELLANEOUS.  
This Agreement may be executed in two or more counterparts, or by facsimile transmission, each of which shall be deemed to be an original and all of which taken together shall constitute one and the same instrument.  The headings contained in this Agreement are for reference purposes only, and shall not affect the meaning or interpretation of this Agreement.

ACCEPTED AND AGREED:
TIMOTHY KNIGHT                    Tribune Interactive, LLC

		
	_/s/ Timothy Knight________________
	By: _/s/ Cindy J. Ballard_____________

Name: Cindy J. Ballard
Its:  Chief Human Resource Officer    

Date: _February 22___, 2017           Date: _February 22___, 2017Exhibit

 Exhibit 4a(14)

SUPPLEMENTAL MORTGAGE
Supplemental Indenture

Dated September 1, 2016

____________________

SUPPLEMENTAL TO
FIRST AND REFUNDING MORTGAGE
DATED AUGUST 1, 1924

_____________________

PUBLIC SERVICE ELECTRIC AND GAS COMPANY
TO
U.S. BANK NATIONAL ASSOCIATION
Trustee
21 South Street
Morristown, New Jersey  07960
                    
_______________________

PROVIDING FOR THE ISSUE OF
$1,450,000,000 FIRST AND REFUNDING MORTGAGE BONDS,
MEDIUM-TERM NOTES SERIES L

RECORD IN MORTGAGE BOOK AND RETURN TO:
ANDREW J. WOODWORTH, ESQ.
80 PARK PLAZA, T5B
NEWARK, N.J. 07102-4194
Prepared by
/s/ Andrew J. Woodworth
(Andrew J. Woodworth, ESQ.)

TABLE OF CONTENTS
Page
Recitals .............................................................................................................................................................................. 1
Form Of Bond ................................................................................................................................................................... 3
Form Of Certificate Of Authentication ............................................................................................................................. 5
Granting Clauses ............................................................................................................................................................... 6
ARTICLE I.
Bonds of the Medium-Term Notes Series L.
Description of series ......................................................................................................................................................... 7
ARTICLE II.
Redemption of Bonds of Medium-Term Notes Series L.
Section 2.01.       Redemption-Redemption Price ........................................................................................................ 7
Section 2.02.           Redemptions Pursuant to Section 4C of
                                     Article Eight of the Indenture ..................................................................................................... 8
		
	Section 2.03.
	Interest on Called Bonds to Cease ................................................................................................... 8

		
	Section 2.04.
	Bonds Called in Part ........................................................................................................................ 8

		
	Section 2.05.
	Provisions of Indenture Not Applicable .......................................................................................... 8

ARTICLE III.
Credits with Respect to Bonds of the 
Medium-Term Notes Series L.
		
	Section 3.01.
	Credits ............................................................................................................................................. 8

		
	Section 3.02.
	Certificate of the Company ............................................................................................................. 8

ARTICLE IV.
Miscellaneous.
		
	Section 4.01.
	Authentication of Bonds of Medium-Term 

                                    Notes Series L ............................................................................................................................. 9
		
	Section 4.02.
	Additional Restrictions on Authentication of 

                                    Additional Bonds Under Indenture ............................................................................................. 9
		
	Section 4.03.
	Restriction on Dividends ................................................................................................................ 9

		
	Section 4.04.
	Use of Facsimile Seal and Signatures ............................................................................................ 9

		
	Section 4.05.
	Time for Making of Payment ......................................................................................................... 9

		
	Section 4.06.
	Effective Period of Supplemental Indenture .................................................................................. 9

		
	Section 4.07.
	Effect of Approval of Board of Public Utilities 

                                     of the State of New Jersey ......................................................................................................... 9
		
	Section 4.08.
	Execution in Counterparts ............................................................................................................. 10

Acknowledgements ........................................................................................................................................................ 12
Certificate of Residence ................................................................................................................................................. 13

SUPPLEMENTAL INDENTURE, dated the 1st day of September 2016 for convenience of reference and effective from the time of execution and delivery hereof, between Public Service Electric and Gas Company, a corporation organized under the laws of the State of New Jersey, hereinafter called the “Company”, party of the first part, and U.S. Bank National Association, a national banking association organized under the laws of the United States of America, as successor Trustee to Wachovia Bank, National Association (previously known as Fidelity Union Trust Company) under the indenture dated August 1, 1924, below mentioned, hereinafter called the “Trustee”, party of the second part.
WHEREAS, on July 25, 1924, the Company executed and delivered to Fidelity Union Trust Company, a certain indenture dated August 1, 1924 (hereinafter called the “Indenture”) to secure and to provide for the issue of First and Refunding Mortgage Gold Bonds of the Company; and
Whereas, the Indenture has been recorded in the following counties of the State of New Jersey, in the offices, and therein in the books and at the pages, as follows:
	
				
	County
	Office
	Book Number
	Page
Number

	Atlantic
	Clerk’s
	1955 of Mortgages
	160

	Bergen
	Clerk’s
	94 of Chattel Mortgages
	123 etc.

	Burlington
	Clerk’s
	693 of Mortgages
52 of Chattel Mortgages
	88 etc.
Folio 8 etc.

	Camden
	Register’s
	177 of Mortgages
45 of Chattel Mortgages
	Folio 354 etc.
184 etc.

	Cumberland
	Clerk’s
	239 of Mortgages
786 of Mortgages
	1 etc.
638 & c.

	Essex
	Register’s
	437 of Chattel Mortgages
	1-48

	 
	 
	T-51 of Mortgages
	341-392

	Gloucester
	Clerk’s
	34 of Chattel Mortgages
	123 etc.

	Hudson
	Register’s
	142 of Mortgages
453 of Chattel Mortgages
	7 etc.
9 etc.

	 
	 
	1245 of Mortgages
	484, etc.

	Hunterdon
	Clerk’s
	151 of Mortgages
	344

	Mercer
	Clerk’s
	67 of Chattel Mortgages
	1 etc.

	Middlesex
	Clerk’s
	384 of Mortgages
113 of Chattel Mortgages
	1 etc.
3 etc.

	 
	 
	437 of Mortgages
	294 etc.

	Monmouth
	Clerk’s
	951 of Mortgages
	291 & c.

	Morris
	Clerk’s
	N-3 of Chattel Mortgages
	446 etc.

	 
	 
	F-10 of Mortgages
	269 etc.

	Ocean
	Clerk’s
	1809 of Mortgages
	40

	Passaic
	Register’s
	M-6 of Chattel Mortgages
	178, etc.

	 
	 
	R-13 of Mortgages
	268 etc.

	Salem
	Clerk’s
	267 of Mortgages
	249 etc.

	Somerset
	Clerk’s
	46 of Chattel Mortgages
	207 etc.

	Sussex
	Clerk’s
	N-10 of Mortgages
123 of Mortgages
	1 etc.
10 & c.

	Union
	Register’s
	9584 of Mortgages
	259 etc.

	Warren
	Clerk’s
	124 of Mortgages
	141 etc.

and

Whereas, the Indenture has also been recorded in the following counties of the Commonwealth of Pennsylvania, in the offices, and therein in the books and at the pages, as follows:
	
				
	County
	Office
	Book Number
	Page
Number

	Adams
	Recorder’s
	22 of Mortgages
	105

	Armstrong
	Recorder’s
	208 of Mortgages
	381

	Bedford
	Recorder’s
	90 of Mortgages
	917

	Blair
	Recorder’s
	671 of Mortgages
	430

	Cambria
	Recorder’s
	407 of Mortgages
	352

	Cumberland
	Recorder’s
	500 of Mortgages
	136

	Franklin
	Recorder’s
	285 of Mortgages
	373

	Huntingdon
	Recorder’s
	128 of Mortgages
	47

	Indiana
	Recorder’s
	197 of Mortgages
	281

	Lancaster
	Recorder’s
	984 of Mortgages
	1

	Montgomery
	Recorder’s
	5053 of Mortgages
	1221

	Westmoreland
	Recorder’s
	1281 of Mortgages
	198

	York
	Recorder’s
	31-V of Mortgages
	446

and
Whereas, the Indenture granted, bargained, sold, aliened, remised, released, conveyed, confirmed, assigned, transferred and set over unto the Trustee certain property of the Company, more fully set forth and described in the Indenture, then owned or which might thereafter be acquired by the Company; and
Whereas, the Company, by various supplemental indentures, supplemental to the Indenture, the last of which was dated May 1, 2015, has granted, bargained, sold, aliened, remised, released, conveyed, confirmed, assigned, transferred and set over unto the Trustee certain property of the Company acquired by it after the execution and delivery of the Indenture; and
Whereas, since the execution and delivery of said supplemental indenture dated May 1, 2015, the Company has acquired property which, in accordance with the provisions of the Indenture, is subject to the lien thereof and the Company desires to confirm such lien; and
Whereas, the Indenture has been amended or supplemented from time to time; and
Whereas, it is provided in the Indenture that no bonds other than those of the 5-1/2% Series due 1959 therein authorized may be issued thereunder unless a supplemental indenture providing for the issue of such additional bonds shall have been executed and delivered by the Company to the Trustee; and
Whereas, the Company is making provisions for the issuance and sale of its Secured Medium-Term Notes, Series L (the “Series L Notes”), to be issued under an Indenture of Trust (the “Note Indenture”) dated as of July 1, 1993 between the Company and The Chase Manhattan Bank (National Association) as predecessor trustee (The Bank of New York Mellon, as successor trustee to the predecessor trustee), as Trustee (the “Note Trustee”); and
Whereas, such Note Indenture provides, among other things, for the pledge and delivery by the Company of a series of First and Refunding Mortgage Bonds of the Company to evidence the Company’s obligation to pay the principal and interest with respect to outstanding Series L Notes; and for such purpose and in order to service and secure payment of the principal and interest in respect of the Series L Notes, the Company desires to provide for the issue of $1,450,000,000 aggregate principal amount of bonds under the Indenture of a series to be designated as “First and Refunding Mortgage Bonds, Medium-Term Notes Series L” (hereinafter sometimes called “Bonds of the Medium-Term Notes Series L”); and
Whereas, the text of the Bonds of the Medium-Term Notes Series L and of the certificate of authentication to be borne by the Bonds of the Medium-Term Notes Series L shall be substantially of the following tenor:

 
(Form of Bond)

This Bond is not transferable except as provided in the Indenture and in the Indenture of Trust dated as of July 1, 1993 between the Company and The Chase Manhattan Bank (National Association)  (The Bank of New York  Mellon, successor trustee) as Trustee.
REGISTERED                                                                                                                                                          REGISTERED
NUMBER                                                                                                                                                                 AMOUNT  
R                                                                                                                                                                       $1,450,000,000
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
First and Refunding Mortgage Bond,
Medium-Term Notes Series L
Public Service Electric and Gas Company (hereinafter called the “Company”), a corporation of the State of New Jersey, for value received, hereby promises to pay to The Bank of New York Mellon (as successor trustee to The Chase Manhattan Bank (National Association)), under the Indenture of Trust dated as of July 1, 1993 between the Company and such trustee, or registered assigns, on the surrender hereof, the principal sum of  One Billion Four Hundred and Fifty Million Dollars, on September 1, 2051, and to pay interest thereon from the date hereof, at the rate of 10% per annum, and until payment of said principal sum, such interest to be payable March 1 and September 1 in each year; provided, however, that the Company shall receive certain credits against such obligations as set forth in the Supplemental Indenture dated September 1, 2016 referred to below.
Both the principal hereof and interest hereon shall be paid at the principal corporate trust office of U.S. Bank National Association in the City of Morristown, State of New Jersey, or (at the option of the registered owner) at the corporate trust office of any paying agent appointed by the Company, in such coin or currency of the United States of America as at the time of payment shall constitute legal tender for the payment of public and private debts; provided, however, that any such payments of principal and interest shall be subject to receipt of certain credits against such payment obligations as set forth in the Supplemental Indenture dated September 1, 2016 referred to below.
This Bond is one of the First and Refunding Mortgage Bonds of the Company issued and to be issued under and pursuant to, and all equally secured by, an indenture of mortgage or deed of trust dated August 1, 1924, as supplemented and amended by supplemental indentures thereto, including the Supplemental Indenture dated September 1, 2016, duly executed by the Company and U.S. Bank National Association as Trustee. This Bond is one of the Bonds of the Medium-Term Notes Series L, which series is limited to the aggregate principal amount of $1,450,000,000 and is issued pursuant to said Supplemental Indenture dated September 1, 2016. Reference is hereby made to said indenture and all supplements thereto for a specification of the principal amount of Bonds from time to time issuable thereunder, and for a description of the properties mortgaged and conveyed or assigned to said Trustee or its successors, the nature and extent of the security, and the rights of the holders of said Bonds and any coupons appurtenant thereto, and of the Trustee in respect of such security.
In and by said indenture, as amended and supplemented, it is provided that with the written approval of the Company and the Trustee, any of the provisions of said indenture may from time to time be eliminated or modified and other provisions may be added thereto provided the change does not alter the annual interest rate, redemption price or date, date of maturity or amount payable on maturity of any then outstanding Bond or conflict with the Trust Indenture Act of 1939 as then in effect, and provided the holders of 85% in principal amount of the Bonds secured by said indenture and then outstanding (including, if such change affects the Bonds of one or more series but less than all series then outstanding, a like percentage of the then outstanding Bonds of each series affected by such change, and excluding Bonds owned or controlled by the Company or by the parties owning at least 10% of the outstanding voting stock of the Company, as more fully specified in said indenture) consent in writing thereto, all as more fully set forth in said indenture, as amended and supplemented.

First and Refunding Mortgage Bonds issuable under said indenture are issuable in series, and the Bonds of any series may be for varying principal amounts and in the form of coupon bonds and of registered bonds without coupons, and the Bonds of any one series may differ from the Bonds of any other series as to date, maturity, interest rate and otherwise, all as in said indenture provided and set forth. The Bonds of the Medium-Term Notes Series L, in which this Bond is included, are designated “First and Refunding Mortgage Bonds, Medium-Term Notes Series L”.
In case of the happening of an event of default as specified in said indenture and said supplemental indenture dated March 1, 1942, the principal sum of the Bonds of this series may be declared or may become due and payable forthwith, in the manner and with the effect in said indenture provided.
The Bonds of this series are subject to redemption as provided in Article II of the Supplemental Indenture dated September 1, 2016.
This Bond is transferable, but only as provided in said indenture and the Indenture of Trust dated as of July 1, 1993 between the Company and The Chase Manhattan Bank (National Association) as predecessor trustee (The Bank of New York Mellon, as successor trustee to the predecessor trustee), as trustee, upon surrender hereof, by the registered owner in person or by attorney duly authorized in writing, at either of said offices where the principal hereof and interest hereon are payable; upon any such transfer a new fully registered Bond similar hereto will be issued to the transferee. This Bond may in like manner be exchanged for one or more new fully registered Bonds of the same series of other authorized denominations but of the same aggregate principal amount. No service charge shall be made for any such transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto. The Company and the Trustee hereunder and any paying agent may deem and treat the person in whose name this Bond is registered as the absolute owner hereof for the purpose of receiving payment of or on account of the principal hereof and the interest hereon and for all other purposes; and neither the Company nor the Trustee hereunder nor any paying agent shall be affected by any notice to the contrary.
The Bonds of this series are issuable only in fully registered form, in any denomination authorized by the Company.
No recourse under or upon any obligation, covenant or agreement contained in said indenture or in any indenture supplemental thereto, or in any Bond issued thereunder, or because of any indebtedness arising thereunder, shall be had against any incorporator, or against any past, present or future stockholder, officer, or director, as such, of the Company or of any successor corporation, either directly or through the Company or any successor corporation, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, it being expressly agreed and understood that said indenture, any indenture supplemental thereto and the obligations issued thereunder, are solely corporate obligations, and that no personal liability whatever shall attach to, or be incurred by, such incorporators, stockholders, officers or directors, as such, of the Company, or of any successor corporation, or any of them, because of the incurring of the indebtedness thereby authorized, or under or by reason of any of the obligations, covenants or agreements contained in the indenture or in any indenture supplemental thereto or in any of the Bonds issued thereunder, or implied therefrom.
This Bond shall not be entitled to any security or benefit under said indenture, as amended and supplemented, and shall not become valid or obligatory for any purpose, until the certificate of authentication, hereon endorsed, shall have been signed by  U.S. Bank National Association as Trustee, or by its successor in trust under said indenture.   
[To be executed and attested under seal in accordance with the provisions of the Indenture.]
(Form of Certificate of Authentication)
Certificate of Authentication
[To be authenticated in accordance with the provisions of the Indenture.]

Whereas, the execution and delivery of this supplemental indenture have been duly authorized by the Board of Directors of the Company; and
Whereas, the Company represents that all things necessary to make the bond of the series hereinafter described, when duly authenticated by the Trustee and issued by the Company, a valid and legal obligation of the Company, and to make this supplemental indenture a valid and binding agreement supplemental to the Indenture, have been done and performed:
Now, therefore, this supplemental indenture witnesseth that the Company, in consideration of the premises and the execution and delivery by the Trustee of this supplemental indenture, and in pursuance of the covenants and agreements contained in the Indenture and for other good and valuable consideration, the receipt of which is hereby acknowledged, has granted, bargained, sold, aliened, remised, released, conveyed, confirmed, assigned, transferred and set over, and by these presents does grant, bargain, sell, alien, remise, release, convey, confirm, assign, transfer and set over unto the Trustee, its successors and assigns, forever, all the right, title and interest of the Company in and to all property of every kind and description (except cash, accounts and bills receivable and all merchandise bought, sold or manufactured for sale in the ordinary course of the Company’s business, stocks, bonds or other corporate obligations or securities, other than such as are described in Part V of the Granting Clauses of the Indenture, not acquired with the proceeds of bonds secured by the Indenture, and except as in the Indenture and herein otherwise expressly excluded) acquired by the Company since the execution and delivery of the supplemental indenture dated May 1, 2015, subsequent to the Indenture (except any such property duly released from, or disposed of, free from the lien of the Indenture, in accordance with the provisions thereof) and all such property which at any time hereafter may be acquired by the Company;
All of which property it is intended shall be included in and granted by this supplemental indenture and covered by the lien of the Indenture as heretofore and hereby amended and supplemented;
Under and subject to any encumbrances or mortgages existing on property acquired by the Company at the time of such acquisition and not heretofore discharged of record; and
Subject also, to the exceptions, reservations and provisions in the Indenture and in this supplemental indenture recited, and to the liens, reservations, exceptions, limitations, conditions and restrictions imposed by or contained in the several deeds, grants, franchises and contracts or other instruments through which the Company acquired or claims title to the aforesaid property; and Subject, also, to the existing leases, to liens on easements or rights of way, to liens for taxes, assessments and governmental charges not in default or the payment of which is deferred, pending appeal or other contest by legal proceedings, pursuant to Section 4 of Article Five of the Indenture, or the payment of which is deferred pending billing, transfer of title or final determination of amount, to easements for alleys, streets, highways, rights of way and railroads that may run across or encroach upon the said property, to joint pole and similar agreements, to undetermined liens and charges, if any, incidental to construction, and other encumbrances permitted by the Indenture as heretofore and hereby amended and supplemented;
To have and to hold the property hereby conveyed or assigned, or intended to be conveyed or assigned, unto the Trustee, its successor or successors and assigns, forever;
In trust, nevertheless, upon the terms, conditions and trusts set forth in the Indenture as heretofore and hereby amended and supplemented, to the end that the said property shall be subject to the lien of the Indenture as heretofore and hereby amended and supplemented, with the same force and effect as though said property had been included in the Granting Clauses of the Indenture at the time of the execution and delivery thereof;
And this supplemental indenture further witnesseth that for the considerations aforesaid, it is hereby covenanted between the Company and the Trustee as follows:

ARTICLE I.
Bonds of the Medium-Term Notes Series L.
The series of bonds authorized by this supplemental indenture to be issued under and secured by the Indenture shall be designated “First and Refunding Mortgage Bonds, Medium-Term Notes Series L”; shall be limited to the aggregate principal amount of $1,450,000,000; shall be issued initially to the Note Trustee and shall mature and bear interest as set forth in the form of bond set forth herein; provided, however, that the Company shall receive certain credits against principal and interest as set forth in Section 3.01 hereof. The date of each Bond of the Medium-Term Notes Series L shall be the interest payment date next preceding the date of authentication, unless such date of authentication be an interest payment date, in which case the date shall be the date of authentication, or unless such date of authentication be prior to the first semi-annual interest payment date, in which case the date shall be September 1, 2016.
Bonds of the Medium-Term Notes Series L shall be issuable only in the form of fully registered bonds in any denomination authorized by the Company. Interest on the Bonds of the Medium-Term Notes Series L shall be payable semi-annually in arrears on March 1 and September 1 of each year, payable initially on March 1, 2017, subject to receipt of certain credits against principal and interest as set forth in Section 3.01 hereof and shall be payable as to both principal and interest in such coin or currency of the United States of America as at the time of payment shall constitute legal tender for the payment of public and private debts, at the principal corporate trust office of the Trustee, or at the corporate trust office of any paying agent appointed.
Bonds of the Medium-Term Notes Series L shall be transferable and exchangeable, but only as provided in the Indenture and the Note Indenture, upon surrender thereof for cancellation by the registered owner in person or by attorney duly authorized in writing at either of said offices. The Company hereby waives any right to make a charge for any transfer or exchange of Bonds of the Medium-Term Notes Series L, but the Company may require payment of a sum sufficient to cover any tax or any other governmental charge that may be imposed in relation thereto.
ARTICLE II.
Redemption of Bonds of Medium-Term Notes Series L.
Section 2.01. Redemption-Redemption Price. Bonds of the Medium-Term Notes Series L shall be subject to redemption prior to maturity under the conditions, and upon payment of the amounts as may be specified in the following conditions:
(a) at any time in whole or in part at the option of the Company upon receipt by the Trustee of written certification of the Company and of the Note Trustee that the principal amount of the Series L Notes then outstanding under the Note Indenture is not in excess of such principal amount of the Bonds of the Medium-Term Notes Series L as shall remain pledged to the Note Trustee after giving effect to such redemption;  (b) at any time by the application of any proceeds of released property or other money held by the Trustee and which, pursuant to Section 4C of Article Eight of the Indenture, as amended and supplemented, are applied to the redemption of Bonds of the Medium-Term Notes Series L, upon payment of 100% of the principal amount thereof, together with interest accrued to the redemption date, provided that any such payment shall be subject to receipt by the Company of certain credits against such obligations as set forth in Section 3.01 hereof or (c) automatically upon failure to pay the principal of any Series L Notes then outstanding under the Note Indenture when due, on their stated maturity date or earlier redemption or repayment date, in a principal amount of Bonds of the Medium-Term Notes Series L equal to the principal amount of such Series L Notes, in each case, at a price equal to 100% of the principal amount thereof, together with accrued interest, if applicable.
Section 2.02. Redemptions Pursuant to Section 4C of Article Eight of the Indenture. If, pursuant to Section 4C of Article Eight of the Indenture, as amended and supplemented, any proceeds of released property or other money then held by the Trustee shall be applied to the redemption of the Bonds of the Medium-Term Notes Series L, the Trustee shall give at least 45 days prior written

 notice of such redemption to the Note Trustee whereupon on the date fixed for redemption such principal amount thereof as is equal to such proceeds shall be redeemed; provided that no such redemption shall be made unless the Trustee shall be in receipt of a written certification of the Company and the Note Trustee that a like principal amount of Series L Notes shall have been theretofore redeemed in accordance with the provisions of the Note Indenture. For purposes of determining which of the Company’s First and Refunding Mortgage Bonds are subject to such mandatory redemption, the Mortgage Trustee shall consider the 10% stated annual interest rate of the Bonds of the Medium-Term Notes Series L, not the weighted average interest rate of outstanding Series L Notes. Bonds of said series so redeemed shall be cancelled.
Section 2.03. Interest on Called Bonds to Cease. Each Bond of the Medium-Term Notes Series L or portion thereof called for redemption under Section 2.02 hereof shall be due and payable at the office of the Note Trustee, as paying agent hereunder, at its redemption price and on the specified redemption date, anything herein or in such Bond to the contrary notwithstanding. From and after the date when each Bond of the Medium-Term Notes Series L or portion thereof shall be due and payable as aforesaid (unless upon said date the full amount due thereon shall not be held by the Note Trustee, as paying agent hereunder, and be immediately available for payment), all further interest shall cease to accrue on such bond or on such portion thereof, as the case may be.
Section 2.04. Bonds Called in Part. If only a portion of any Bond of the Medium-Term Notes Series L shall be called for redemption pursuant to Section 2.02 hereof, upon payment of the portion so called for redemption, the Note Trustee shall make an appropriate notation upon the Bond of the principal amount so redeemed.
Section 2.05. Provisions of Indenture Not Applicable. The provisions of Article Four of the Indenture, as amended and supplemented, shall not apply to the procedure for the exercise of any right of redemption reserved by the Company, or to any mandatory redemption provided, in this Article in respect of the Bonds of the Medium-Term Notes Series L. There shall be no sinking fund for the Bonds of the Medium-Term Notes Series L.
ARTICLE III.
Credits with Respect to Bonds of the Medium-Term Notes Series L.
Section 3.01. Credits. In addition to any other credit, payment or satisfaction to which the Company is entitled with respect to the Bonds of the Medium-Term Notes Series L, the Company shall be entitled to credits against amounts otherwise payable in respect of the Bonds of the Medium-Term Notes Series L in an amount corresponding to (i) the principal amount of any of the Company’s Series L Notes issued under the Note Indenture surrendered to the Note Trustee by the Company, or purchased by the Note Trustee, for cancellation, (ii) the amount of money held by the Note Trustee and available and designated for the payment of principal or redemption price (exclusive of any premium) of, and/or interest on, the Series L Notes, regardless of the source of payment to the Note Trustee of such moneys and (iii) the amount by which principal of and interest due on the Bonds of the Medium-Term Notes Series L exceeds principal of and interest due on the Series L Notes. The Note Trustee shall make notation on such Bonds authorized hereby of any such credit.
Section 3.02. Certificate of the Company. A certificate of the Company signed by the President or any Vice President, and attested to by the Secretary or any Assistant Secretary, and consented to by the Note Trustee, stating that the Company is entitled to a credit under Section 3.01 hereof or that Bonds of the Medium-Term Notes Series L have been cancelled, and setting forth the basis therefor in reasonable detail, shall be conclusive evidence of such entitlement, and the Trustee shall accept such certificate as such evidence without further investigation or verification of the matters stated therein.
ARTICLE IV.
Miscellaneous.
Section 4.01. Authentication of Bonds of Medium-Term Notes Series L. None of the Bonds of the Medium-Term Notes Series L, the issue of which is provided for by this supplemental indenture, shall be authenticated by or on behalf of the Trustee except in accordance with the provisions of the Indenture, as amended and supplemented, and this supplemental indenture, and upon compliance with the conditions in that behalf therein contained.

Section 4.02. Additional Restrictions on Authentication of Additional Bonds Under Indenture. The Company covenants that from and after the date of execution of this supplemental indenture no additional bonds (as defined in Section 1 of Article Two of the Indenture) shall be authenticated and delivered by the Trustee under Subdivision A of Section 4 of said Article Two on account of additions or improvements to the mortgaged property;    
(1) unless the net earnings of the Company for the period required by Subdivision C of Section 6 of said Article Two shall have been at least twice the fixed charges (in lieu of 1-3/4 times such fixed charges, as required by said Subdivision C); and for the purpose of this condition (a) such fixed charges shall in each case include interest on the bonds applied for, notwithstanding the parenthetical provision contained in clause (4) of said Subdivision C, and (b) in computing such net earnings there shall be included in expenses of operation (under paragraph (c) of said Subdivision C) all charges against earnings for depreciation, renewals or replacements, and all certificates with respect to net earnings delivered to the Trustee in connection with any authentication of additional bonds under said Article Two shall so state; and (2) except to the extent of 60% (in lieu of 75% as permitted by Subdivision A of Section 7 of said Article Two) of the cost or fair value to the Company of the additions or improvements forming the basis for such authentication of additional bonds.
Section 4.03. Restriction on Dividends. The Company will not declare or pay any dividend on any shares of its common stock (other than dividends payable in shares of its common stock) or make any other distribution on any such shares, or purchase or otherwise acquire any such shares (except shares acquired without cost to the Company) whenever such action would reduce the earned surplus of the Company to an amount less than $10,000,000 or such lesser amount as may remain after deducting from said $10,000,000 all amounts appearing in the books of account of the Company on December 31, 1948, which shall thereafter, pursuant to any order or rule of any regulatory body entered after said date, be required to be removed, in whole or in part, from the books of account of the Company by charges to earned surplus.
Section 4.04. Use of Facsimile Seal and Signatures. The seal of the Company and any or all signatures of the officers of the Company upon any of the Bonds of the Medium-Term Notes Series L may be facsimiles.
Section 4.05. Time for Making of Payment. All payments of principal or redemption price of, and interest on, the Bonds of the Medium-Term Notes Series L shall be made either prior to the due date thereof or on the due date thereof in immediately available funds. In any case where the date of any such payment shall be a Saturday or Sunday or a legal holiday or a day on which banking institutions in the city of payment are authorized by law to close, then such payment 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 the due date, and no interest on such payment shall accrue for the period after such date.
Section 4.06. Effective Period of Supplemental Indenture. The preceding provisions of Articles I, II and III of this supplemental indenture shall remain in effect only so long as any of the Bonds of the Medium-Term Notes Series L shall remain outstanding.
Section 4.07. Effect of Approval of Board of Public Utilities of the State of New Jersey. The approval of the Board of Public Utilities of the State of New Jersey of the execution and delivery of these presents and of the issue of any Bond of the Medium-Term Notes Series L shall not be construed as approval of said Board of any other act, matter or thing which requires approval of said Board under the laws of the State of New Jersey.
Section 4.08. Execution in Counterparts. For the purpose of facilitating the recording hereof, this supplemental indenture has been executed in several counterparts, each of which shall be and shall be taken to be an original, and all collectively but one instrument.    

In witness whereof, Public Service Electric and Gas Company, party hereto of the first part, after due corporate and other proceedings, has caused this supplemental indenture to be signed and acknowledged or proved by its President or one of its Vice Presidents and its corporate seal hereunto to be affixed and to be attested by the signature of its Secretary or an Assistant Secretary; and  U.S. Bank National Association, as Trustee, party hereto of the second part, has caused this supplemental indenture to be signed and acknowledged or proved by its President or one of its Vice Presidents, and its corporate seal to be hereunto affixed and to be attested by the signature of its Secretary, Assistant Secretary, Vice President, or an Assistant Vice President. Executed and delivered this 1st day of September 2016.
Attest:

                              PUBLIC  SERVICE  ELECTRIC AND GAS COMPANY
By /s/ Bradford D. Huntington
. . . . . . . . . . . . . . . . . . . . . . . . . . . 
B.D. Huntington
Vice President
Attest:
/s/ Michael K. Hyun
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Michael K. Hyun 
Secretary

U.S. BANK  NATIONAL ASSOCIATION
By /s/ N. Barnes
. . . . . . . . . . . . . . . . . . . . . . . . . . . 
N. Barnes 
Vice President 
Attest:
/s/ A. Harris
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
A. Harris
Vice President   
    
                                 

STATE OF NEW JERSEY    )
                   SS:)
COUNTY OF ESSEX    )

Be it Remembered, that on this 1st day of September, 2016, before me, the subscriber, a Notary Public of the State of New Jersey, personally appeared B.D. Huntington, who, I am satisfied, is a Vice President of Public Service Electric and Gas Company, one of the corporations named in and which executed the foregoing instrument, and is the person who signed the said instrument as such officer, for and on behalf of such corporation, and I having first made known to him the contents thereof, he did acknowledge that he signed the said instrument as such officer, that the said instrument was made by such corporation and sealed with its corporate seal, that the said instrument is the voluntary act and deed of such corporation, made by virtue of authority from its Board of Directors, and that said corporation, the mortgagor, has received a true copy of said instrument.
/s/ Jeanette M. Scott
. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Jeanette M. Scott
Notary Public of New Jersey
My Commission Expires December 17, 2017
STATE OF NEW JERSEY    )
                   SS:)
COUNTY OF ESSEX    )

Be it Remembered, that on this 1st day of September 2016 before me, the subscriber, a Notary Public of the State of New Jersey, personally appeared N. Barnes, who, I am satisfied, is a Vice President of U.S. Bank National Association, one of the corporations named in and which executed the foregoing instrument, and is the person who signed the said instrument as such officer, for and on behalf of such corporation, and I having first made known to him the contents thereof, he did acknowledge that he signed the said instrument as such officer, that the said instrument was made by such corporation and sealed with its corporate seal, and that the said instrument is the voluntary act and deed of such corporation, made by virtue of authority from its Board of Directors.  

/s/ Mary Ryan 
..............................................................
Mary Ryan
Notary Public of New Jersey 
My Commission Expires July 14, 2021

                            

CERTIFICATE OF RESIDENCE
    
U.S. Bank National Association, Mortgagee and Trustee within named, hereby certifies that its precise residence is 21 South Street, Morristown, New Jersey 07960.
U.S. BANK NATIONAL ASSOCIATION
By /s/ N. Barnes
. . . . . . . . . . . . . . . . . . . . . . . . . . . 
N. Barnes 
Vice President

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