Document:

EX-4.5

 Exhibit 4.5 

CENTERRA GOLD INC. 

SHARE OPTION AND SHARE APPRECIATION RIGHTS PLAN 

Amended and Restated as of December 9, 2010 

 Share Option and Share 

Appreciation Rights Plan 
  

							
	 	  	 	  	Page	 
		
	SECTION 1. INTERPRETATION AND ADMINISTRATIVE PROVISIONS	  	 	1	 
			
	 1.1
	  	Purpose	  	 	1	 
			
	 1.2
	  	Definitions	  	 	1	 
			
	 1.3
	  	Administration	  	 	3	 
			
	 1.4
	  	Governing Law	  	 	4	 
			
	 1.5
	  	Common Shares Reserved for Issuance	  	 	4	 
		
	SECTION 2. OPTIONS	  	 	5	 
			
	 2.1
	  	Grant of Options	  	 	5	 
			
	 2.2
	  	Expiry of Options	  	 	5	 
			
	 2.3
	  	Termination, Retirement, Death or Resignation	  	 	5	 
			
	 2.4
	  	End of Participation	  	 	6	 
			
	 2.5
	  	Assumption or Substitution	  	 	6	 
			
	 2.6
	  	Agreements	  	 	7	 
			
	 2.7
	  	Exercise of Option	  	 	7	 
		
	SECTION 3. SHARE APPRECIATION RIGHTS	  	 	7	 
			
	 3.1
	  	Grants of Share Appreciation Rights	  	 	7	 
			
	 3.2
	  	Exercise	  	 	8	 
		
	SECTION 4. GENERAL	  	 	8	 
			
	 4.1
	  	Capital Adjustments	  	 	8	 
			
	 4.2
	  	Non-Exclusivity	  	 	8	 
			
	 4.3
	  	Unfunded Plan	  	 	8	 
			
	 4.4
	  	Successors and Assigns	  	 	8	 
			
	 4.5
	  	Transferability of Awards	  	 	9	 
			
	 4.6
	  	Amendment and Termination	  	 	9	 
			
	 4.7
	  	No Special Rights	  	 	10	 
			
	 4.8
	  	Other Employee Benefits	  	 	10	 
			
	 4.9
	  	Compliance with Legislation	  	 	10	 
			
	 4.10
	  	Tax Consequences	  	 	10	 
			
	 4.11
	  	No Liability	  	 	11	 
			
	 4.12
	  	Effective Date	  	 	11	 

  
 -i- 

 CENTERRA GOLD INC. 

SHARE OPTION AND SHARE APPRECIATION RIGHTS PLAN 

Section 1.    Interpretation and Administrative Provisions 

 

	1.1	 Purpose 

The purposes of this Plan are to: (i) support the achievement of the Corporation’s performance objectives; (ii) ensure that
interests of key persons are aligned with the success of the Corporation; and (iii) provide compensation opportunities to attract, retain and motivate senior management critical to the long-term success of the Corporation and its subsidiaries.

  

	1.2	 Definitions 

For the purposes of the Plan, the following terms have the following meanings: 

“Award” means an Option and, if applicable, the Share Appreciation Right granted in connection with the Option; 

“Blackout Period” means the period imposed by the Corporation, during which a Participant may not trade in the
Corporation’s securities and includes any period during which a Participant has material non-public information, but does not include any period when a regulator has halted trading in the
Corporation’s securities; 
 “Board” means the board of directors of the Corporation; 

“Change of Control” means any of: 
  

	 	(a)	 any transfer, conveyance, sale, lease, exchange or otherwise, of all or substantially all of the assets of the
Corporation to any person, partnership, joint venture or corporation (collectively, “Person”) other than a Person which was an affiliate (as defined in the Canada Business Corporations Act) of the Corporation immediately
prior to such transaction (a “Centerra Affiliate”); 

  

	 	(b)	 the first of any acquisition or series of acquisitions, directly or indirectly and by any means whatsoever by
any Person other than a Centerra Affiliate, or by a group of Persons, acting jointly or in concert, (the “Acquirer”) of that number of voting shares of the Corporation which is equal to or greater than 20% of the voting shares
issued and outstanding immediately after such acquisition unless any Person or group of Persons, acting jointly or in concert (the “Controller”) then owns directly or indirectly, more of the total issued and outstanding voting shares of
the Corporation than the Acquirer, provided that a disposition by the Controller of voting shares such that it owns fewer of the total issued and outstanding voting shares of the Corporation than the Acquirer shall also be a Change of Control;

  

	 	(c)	 more than 20% of the voting shares of the Corporation become subject to a voting trust or similar arrangement
other than in favour of any Centerra Affiliate, unless the Controller then owns directly or indirectly, more of the total issued and 

	 	
outstanding voting shares of the Corporation than such voting trust or similar arrangement; 

  

	 	(d)	 the majority of the members of the Board are replaced during any
12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or 

 

	 	(e)	 the Board, by resolution, deems that a Change of Control of the Corporation has occurred or is about to occur.

 “Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time and the Treasury
Regulations promulgated thereunder; 
 “Committee” means the Human Resource and Compensation Committee of the Board; 

“Common Share” means a common share of the Corporation; 

“Corporation” means Centerra Gold Inc.; 

“Disability” means the mental or physical state of the Participant such that: 

 

	 	(i)	 the Board, acting reasonably, determines that the Participant is unable, due to illness, disease, mental or
physical disability or similar cause, to substantially perform his or her duties with the Corporation or a Participating Company for any consecutive 3 month period or for any period of 6 months (whether or not consecutive) in any consecutive 12
month period and that there is no reasonable prospect of the Participant returning to active employment at the end of such period; 

  

	 	(ii)	 a court of competent jurisdiction has declared the Participant to be mentally incompetent or incapable of
managing his or her affairs or has appointed a guardian of the property of the Participant; or 

  

	 	(iii)	 an attorney pursuant to a continuing power of attorney for property or similar instrument manages the affairs
of the Participant due to the Participant’s mental incapacity; 

 “Eligible Person” means any
employee or officer of a Participating Company (and includes any such person who is on a leave of absence authorized by a Participating Company); 

“Exercise Price” means such amount as the Board may determine, provided that in no event shall the exercise price be less than
Fair Market Value; 
 “Fair Market Value” means the volume weighted average trading price of the Common Shares on the
principal Canadian stock exchange on which the Common Shares are traded for the 5 trading days immediately preceding the applicable day (calculated as the 

  
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total value of Common Shares Traded over the 5 day period divided by the total number of Common Shares traded over the 5 day period); 

“Notice of Exercise” means a notice substantially in the form set out as Schedule B, as amended by the Committee from time to
time; 
 “Option” means a right granted to an Eligible Person to purchase Common Shares of the Corporation pursuant to the
terms of this Plan; 
 “Option Agreement” means an agreement substantially in the form set out as Schedule A, as
amended by the Committee from time to time; 
 “Participant” means any Eligible Person to whom an Award is granted; 

“Participating Company” means the Corporation and such of its subsidiaries as are designated by the Board from time to time;

 “Plan” means the Centerra Gold Inc. Share Option and Share Appreciation Rights Plan, as amended from time to time; 

“Retirement” means a resignation of a Participant which the Committee determines should be treated as Retirement; 

“Share Appreciation Right” has the meaning set out in Section 3.1; 

“Substitution Event” has the meaning set out in Section 2.5; 

“Termination Date” means the date a Participant ceases to be an Eligible Person and does not include any period of statutory,
contractual or reasonable notice of termination of employment or any period of salary continuance or deemed employment; and 
 “U.S.
Participant” means any Participant who is a United States citizen or United States resident alien as defined for purposes of Code Section 7701(b)(1)(A). 

Where the context so requires, words importing the singular number include the plural and vice versa, and words importing the masculine gender
also include the feminine and neuter genders. 
  

	1.3	 Administration 

Subject to the Committee reporting to the Board on all matters relating to this Plan and obtaining approval of the Board for those matters
required by the Committee’s mandate, this Plan will be administered by the Committee which has the sole and absolute discretion to: (i) grant Awards to Eligible Persons; (ii) determine the exercise price, vesting, terms, limitations,
restrictions and conditions upon such grants; (iii) interpret and administer the Plan; (iv) establish, amend and rescind any rules and regulations relating to the Plan (subject to obtaining any required regulatory approval); and
(iv) make any other determinations that the Committee deems necessary or desirable for the administration of the Plan. The Committee may correct any defect 

  
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or supply any omission or reconcile any inconsistency in the Plan, in the manner and to the extent the Committee deems, in its sole and absolute discretion, necessary or desirable (subject to
obtaining any required regulatory approval). Any decision of the Committee with respect to the administration and interpretation of the Plan shall be conclusive and binding on the Participants. 

Each Award is intended to be exempt from Code Section 409A. Notwithstanding the foregoing, to the extent that any Award granted to a U.S.
Participant, is determined to constitute “nonqualified deferred compensation” within the meaning of Code Section 409A, such Award shall be subject to such additional rules and requirements as specified by the Committee from time to
time in order to comply with Code Section 409A. If any provision of the Plan contravenes Code Section 409A or could cause the U.S. Participant to incur any tax, interest or penalties under Code Section 409A, the Committee may, in its
sole discretion and without the U.S. Participant’s consent, modify such provision to (i) comply with, or avoid being subject to, Code Section 409A, or to avoid the incurrence of taxes, interest and penalties under Code
Section 409A, and/or (ii) maintain, to the maximum extent practicable, the original intent and economic benefit to the U.S. Participant of the applicable provision without materially increasing the cost to the Corporation or contravening
Code Section 409A. However, the Corporation shall have no obligation to modify the Plan or any Award and does not guarantee that Awards will not be subject to taxes, interest and penalties under Code Section 409A. 

 

	1.4	 Governing Law 

This Plan is to be governed by and interpreted in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable
therein. 
  

	1.5	 Common Shares Reserved for Issuance 

 

	 	(a)	 A maximum of eighteen million (18,000,000) Common Shares are available for issuance under this Plan, provided
that Common Shares reserved for issuance pursuant to Awards which are cancelled or terminated without having been redeemed will again be available for issuance under this Plan. 

 

	 	(b)	 Under no circumstances may the Plan, together with all of the Corporation’s other previously established
or proposed share compensation arrangements result, at any time, in the number of Common Shares reserved for issuance pursuant to Awards and/or other units or stock options to any one person exceeding 5% of the outstanding issue.

  

	 	(c)	 Any insider and that insider’s associates may not, within a 12 month period, be issued a number of Common
Shares under the Plan and/or under any other share compensation arrangement of the Corporation exceeding 5% of the outstanding issue. 

  

	 	(d)	 Under no circumstances may the Plan, together with all of the Corporation’s other previously established
or proposed compensation arrangements, result, at any time, in the number of Common Shares issued to or reserved for issuance to insiders exceeding 10% of the outstanding issue. 

  
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	 	(e)	 The terms “share compensation arrangement”, “outstanding issue”, “insider” and
“insider’s associates” have the meanings attributed thereto in the Toronto Stock Exchange Company Manual. 

 
Section 2.    Options 
  

	2.1	 Grant of Options 

 

	 	(a)	 The Board may grant Options to Eligible Persons in its sole discretion. The award of an Award to an Eligible
Person at any time shall neither entitle such Eligible Person to receive nor preclude such Eligible Person from receiving a subsequent grant of an Award and shall not restrict in any way the right of the Corporation or any Participating Company to
terminate the Eligible Person’s employment. Options may be granted with or without related Share Appreciation Rights. 

  

	 	(b)	 The Committee may determine when any Option will become vested and may determine that the Option will become
vested in installments. In the absence of any other determination (including, without limitation, in a Participant’s employment agreement), Options will become vested as follows: 

 

	 	(i)	 as to one-third on the first anniversary of the date of grant; 

 

	 	(ii)	 as to an additional one-third, on the second anniversary of the date of grant; 

 

	 	(iii)	 as the remaining one-third, on the third anniversary of the date of
grant; 

 provided that subject to the terms of any employment or other agreement between the Participant and the
Corporation or the Committee expressly providing to the contrary, Options which are not vested prior to a Participant’s Termination Date shall not become vested thereafter. 

 

	2.2	 Expiry of Options 

Options granted must be exercised no later than 8 years after the date of grant or such shorter period as the Committee may require.
Notwithstanding any other provision of this Plan, each Option that would expire during or within ten (10) days immediately following a Blackout Period, shall expire on the later of its expiration date and ten (10) days immediately
following the expiration of the Blackout Period. 
  

	2.3	 Termination, Retirement, Death or Resignation 

 

	 	(a)	 If a Participant ceases to be an Eligible Person by reason of death, all options which have vested at the
Participant’s date of death will be exercisable by the Participant’s legal representatives for a period of one year after the Participant’s date of death and all Awards which are not vested as at the Participant’s

  
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Termination Date or which are not so exercised other than as set out in Sections 2.3(a) or (b) expire, subject to Section 2.2. 

 

	 	(b)	 If a Participant ceases to be an Eligible Person by reason of Retirement or Disability, all unvested Awards
will continue to vest and all vested Awards will be exercisable for 3 years from the Termination Date and all Awards which are not so exercised expire, subject to Section 2.2. 

 

	 	(c)	 If a Participant ceases to be an Eligible Person for any other reason, all Awards which have vested
at the Termination Date will be exercisable by the Participant for a period of 90 days after the Termination Date and all Awards which are not vested at the Termination Date or which are not exercised within the 90 day
period expire, subject to Section 2.2. 

  

	 	(d)	 Notwithstanding the foregoing, no Award may be exercised after its stated expiration. 

 

	 	(e)	 The Committee may, in its sole discretion, accelerate the vesting of any Award. 

 

	2.4	 End of Participation 

At the time a Participant ceases to hold Awards which are or may become exercisable, the Participant ceases to be a Participant. 

 

	2.5	 Assumption or Substitution 

In the event of: (i) a Change of Control; or (ii) a merger, amalgamation, or other transaction pursuant to which the Common Shares
are converted into other property, whether in the form of securities of another corporation, cash or otherwise (each a “Substitution Event”), then any surviving or acquiring corporation shall assume any Award outstanding under the Plan or
shall substitute similar Awards (including an award to acquire the same consideration paid to the security holders in the transaction effecting the Substitution Event) for those Awards outstanding under the Plan. In the event any surviving
corporation or acquiring corporation refuses to assume such Awards or to substitute similar stock options for those Awards outstanding under the Plan, then with respect to such Awards, the vesting of such Awards (and, if applicable, the time during
which such Awards may be exercised) shall be accelerated in full, and the Awards shall terminate if not exercised (if applicable) at or prior to such event. 

No fractional Common Shares or other security shall be issued upon the exercise of any Award and accordingly, if as a result of a Substitution
Event, a Participant would become entitled to a fractional Share or other security, such Participant shall have the right to acquire only the next lowest whole number of Common Shares or other security and no payment or other adjustment will be made
with respect to the fractional interest so disregarded. 
 Notwithstanding any other provision of this Plan, in the event of a potential
Change of Control or other Substitution Event, the Board shall have the power to make such changes to the terms of the Awards as it considers fair and appropriate in the circumstances, including but not limited to: (i) accelerating the date at
which Awards become exercisable; (ii) otherwise 

  
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modifying the terms of the Awards to assist the Participants to tender into a take-over bid or other arrangement leading to a Change of Control; and thereafter (iii) terminating,
conditionally or otherwise, the Awards not exercised following successful completion of such. If the Substitution Event referred to in this Section 2.5 is not completed within the time specified therein (as the same may be extended), the Awards
which vested pursuant to this Section 2.5 shall be returned by the Participant to the Corporation and reinstated as authorized but unissued Common Shares and the original terms applicable to such Awards shall be reinstated. 

Notwithstanding anything in this Plan to the contrary, with respect to U.S. Participants, all assumptions, substitutions or adjustments made
pursuant to this Section 2.5 shall be made in compliance with Code Section 409A. 
  

	2.6	 Agreements 

Each Award must be confirmed by an agreement (an “Option Agreement”) substantially in the form attached as Schedule A signed by the
Corporation and by the Participant acknowledging that the Participant agrees to be bound by the terms of this Plan. 
  

	2.7	 Exercise of Option 

In order to exercise an Option, the Participant must file with the Secretary of the Corporation a completed Notice of Exercise. The exercise
price of each Common Share purchased under an Option must be paid in full by bank draft or certified cheque at the time of exercise. Upon receipt of payment in full and subject to the terms of this Plan, the Corporation will deliver to the
Participant certificates for the number of Common Shares in respect of which the Option is exercised less the number of Common Shares with a Fair Market Value equal to all required withholdings and remittances, as fully paid and non-assessable. The number of Common Shares with a Fair Market Value equal to all required withholdings and remittances shall be sold and the proceeds of such sale remitted by the Corporation to the appropriate
Canadian taxation authorities. 
 Section 3.    Share Appreciation Rights 

 

	3.1	 Grants of Share Appreciation Rights 

 

	 	(a)	 The Committee may, from time to time, grant rights (“Share Appreciation Rights”) to any Eligible
Person in connection with the grant of any Option. Any such grant of Share Appreciation Rights shall be included in the Option Agreement. 

  

	 	(b)	 A Share Appreciation Right is the right to surrender to the Corporation all or a portion of an Option in
exchange for an amount equal to: 

  

	 	(i)	 the Fair Market Value as of the date such Option or portion thereof is surrendered of the Common Shares
issuable on exercise of such Option or portion thereof minus 

  
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	 	(ii)	 the Exercise Price of such Option or portion thereof, relating to such Common Shares and any amount required to
be withheld by applicable law. 

  

	3.2	 Exercise 

Share Appreciation Rights shall be exercisable only at the same time, by the same persons and to the same extent, that the Option related
thereto is exercisable. Upon exercise of any Share Appreciation Right, the corresponding portion of the related Option shall be surrendered to the Corporation. In the sole discretion of the Corporation, the Corporation may require a Participant to
exercise an Option and receive Common Shares rather than a Share Appreciation Right or may transfer to the Participant the number of Common Shares determined as the amount determined in accordance with Section 3.1(b) less any applicable
withholding taxes divided by the Fair Market Value of a Common Share on the date the Share Appreciation Right is exercised. 

Section 4.    General 
  

	4.1	 Capital Adjustments 

In the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation,
spin-off or other distribution (other than normal cash dividends) of the Corporation’s assets to shareholders, or any other change in the capital of the Corporation affecting Common Shares, the Committee
will make such proportionate adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such change (for the purpose of preserving the value of the Awards), with respect to (i) the number or kind of shares or other
securities reserved for issuance pursuant to this Plan; and (ii) the number or kind of shares or other securities subject to unexercised Awards previously granted and the exercise price of those Awards; provided, however, that no substitution
or adjustment will obligate the Corporation to issue or sell fractional shares. 
  

	4.2	 Non-Exclusivity 

Nothing contained herein will prevent the Board from adopting other or additional compensation arrangements for the benefit of any Participant,
subject to any required regulatory or shareholder approval. 
  

	4.3	 Unfunded Plan 

To the extent any individual holds any rights under the Plan, such rights (unless otherwise determined by the Committee) shall be no greater
than the rights of a general unsecured creditor of the Corporation. 
  

	4.4	 Successors and Assigns 

The Plan shall be binding on all successors and assigns of the Corporation and each Participant, including without limitation, the legal
representative of a Participant, or any receiver 

  
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or trustee in bankruptcy or representative of the creditors of a Participating Company or a Participant. 
  

	4.5	 Transferability of Awards 

Rights respecting Awards shall not be transferred or assigned other than by will or the laws of descent and distribution. 

 

	4.6	 Amendment and Termination 

The Committee may amend, suspend or terminate the Plan, or any portion thereof, at any time, subject to those provisions of applicable law
(including, without limitation, the rules, regulations and policies of the Toronto Stock Exchange), if any, that require the approval of shareholders or any governmental or regulatory body. However, except as expressly set forth herein, no action of
the Committee, Board or shareholders shall alter or impair the rights of a Participant without the consent of the affected Participant, under any Award, or any rights pursuant thereto, previously granted to the Participant. The Board or the
Committee may make any amendments to the Plan without seeking shareholder approval except the following amendments for which Shareholder approval will be required: 
  

	 	(a)	 amendments to the number of Common Shares issuable under the Plan, including an increase to a fixed maximum
number of Common Shares or a change from a fixed maximum number of Common Shares to a fixed maximum percentage; 

  

	 	(b)	 amendments to the Plan that increase the length of the period after a Blackout Period during which Awards or
any rights pursuant thereto may be exercised; 

  

	 	(c)	 amendments which would reduce the exercise price of an Award or would result in the exercise price for any
Award or any rights pursuant thereto granted under the Plan being lower than the fair market value of the Common Shares at the time the Award or any rights pursuant thereto is granted, except a reduction in connection with any stock dividend, stock
split, combination or exchange of shares, merger, consolidation, spin off or other distribution or other change in the capital of the Corporation affecting Common Shares; 

 

	 	(d)	 any amendment expanding the categories of Eligible Person which would have the potential of broadening or
increasing insider participation; 

  

	 	(e)	 any amendment extending the term of an Award or any rights pursuant thereto held by an insider beyond its
original expiry date except an extension of an Award or any rights pursuant thereto that would otherwise expire during a Blackout Period, to 10 days following the end of the Blackout Period; 

 

	 	(f)	 the addition of any other provision which results in participants receiving Common Shares while no cash
consideration is received by the Corporation; 

  

	 	(g)	 an amendment to add cashless exercise feature if there is no full deduction of the underlying securities;

  
 - 9 - 

	 	(h)	 amendments to this Section 4.6; and 

 

	 	(i)	 amendments required to be approved by shareholders under applicable law (including, without limitation, the
rules, regulations and policies of the Toronto Stock Exchange). 

  

	4.7	 No Special Rights 

Nothing contained in the Plan or in any Award will confer upon any Participant any right to the continuation of the Participant’s
employment by a Participating Company or interfere in any way with the right of any Participating Company at any time to terminate that employment or to increase or decrease the compensation of the Participant. Awards shall not be considered Common
Shares nor shall they entitle any Participant to exercise voting rights or any other rights attaching to the ownership of Common Shares, nor shall any Participant be considered the owner of Common Shares. 

 

	4.8	 Other Employee Benefits 

The amount of any compensation deemed to be received by a Participant as a result of the exercise of an Award or the sale of Common Shares
received upon an exercise of an Option will not constitute compensation with respect to which any other employee benefits of that Participant are determined, including, without limitation, benefits under any bonus, pension, profit-sharing, insurance
or salary continuation plan, except as otherwise specifically determined by the Committee. 
  

	4.9	 Compliance with Legislation 

The Committee may postpone any exercise of any Award or the issue of any Common Shares pursuant to this Plan for as long as the Committee in
its discretion may deem necessary in order to permit the Corporation to effect or maintain qualification of the Common Shares issuable pursuant thereto under the securities laws of any applicable jurisdiction, or to determine that the Common Shares
are exempt from that qualification. The Corporation is not obligated by any provision of this Plan or grant hereunder to sell or issue Common Shares in violation of the law of any government having jurisdiction therein. In addition, if the Common
Shares are listed on a stock exchange, the Corporation will have no obligation to issue any Common Shares pursuant to this Plan until such Common Shares have been duly listed. The Corporation shall make all reasonable commercial efforts to maintain
and effect the qualification of Common Shares. 
  

	4.10	 Tax Consequences 

It is the responsibility of the Participant to complete and file any tax returns which may be required under Canadian, U.S., and other
applicable jurisdiction’s tax laws within the periods specified in those laws as a result of the Participant’s participation in the Plan. No Participating Employer shall be held responsible for any tax consequences to the Participant as a
result of the Participant’s participation in the Plan. 

  
 - 10 - 

	4.11	 No Liability 

The Corporation shall not be liable to any Participant for any loss resulting from a decline in the market value of any Common Shares. 

 

	4.12	 Effective Date 

The Plan was effective May 1, 2004 and was amended and restated effective March 17, 2010. 

  
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 CENTERRA GOLD INC. SHARE OPTION AND SHARE APPRECIATION RIGHTS PLAN 

SCHEDULE A 
 OPTION
AGREEMENT AND CONFIRMATION 
 [Name of Employee] 

(the “Participant”) 

Pursuant to the Centerra Gold Inc. Share Option and Share Appreciation Rights Plan (the “Plan”) effective May 1, 2004, as
amended and restated effective March 17, 2010, and in consideration of services provided to any Participating Company by the Participant, Centerra Gold Inc. hereby grants to the Participant an Option to acquire
                             Common Shares of Centerra Gold Inc. at an exercise price of
$                     per Common Share. The Option is granted: ☐ with Share Appreciation Rights
                 ☐ without Share Appreciation Rights. 

All capitalized terms not defined in this agreement have the meaning set out in the Plan. 

Subject to earlier expiry in accordance with the Plan, the Option shall cease to be exercisable and shall expire on
                                ,
            . The Option vest as follows: 
  

	 	(a)	 as to one-third, at any time during the term of such Option from and after the first anniversary of the
date of grant of the Option; 

  

	 	(b)	 as to an additional one-third, at any time during the term of such Option from and after the second anniversary
of the date of grant of the Option; 

  

	 	(c)	 as to the remaining one-third, at any time during the term of such Option from and after the third anniversary
of the date of grant. 

 Centerra Gold Inc. and the Participant understand and agree that the granting and exercise of
this Option and the issue of Common Shares are subject to the terms and conditions of the Plan, all of which are incorporated into and form a part of this agreement. 

DATED
                                ,
            . 
  

	
	CENTERRA GOLD INC.
	
	Per
                                         
       c/s

 I agree to the terms and conditions set out herein and confirm and acknowledge that I have not been
induced to enter into this agreement or acquire any Option by expectation of employment or continued employment with any Participating Company. 
  

	
	  

	Signature
	
	  

	Name (please print)

 CENTERRA GOLD INC. SHARE OPTION AND SHARE APPRECIATION RIGHTS PLAN 

SCHEDULE B 
 ELECTION

  

	TO:	 CENTERRA GOLD INC. (the “Company”) 

Attention:        The Secretary 

Pursuant to the Centerra Gold Inc. Share Option and Share Appreciation Rights Plan (the “Plan”), the undersigned elects to: 

☐     exercise options to purchase the number of Common Shares of the Company, which are subject of options granted in the
corresponding year, at the exercise price per Common Share, as indicated in the table below. 
  

							
	Grant Year	  	 Number
of Exercisable
 Options Available
	  	 Number
of Options to
 Exercise
	  	
Exercise Price per
 Common
Share

	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	 	  	 	  	 	  	 
	
Total
	  	 	  	 	  	 

  

	☐	 exercise a Share Appreciation Right (“SAR”) in respect of Common Shares. Note that this option is
applicable only to 2004 SAR grants. 

 DATED
                                        .

  

                          
                                         
          
 Name of Employee 
  

			
		 	THIS CONFIRMS THAT THE NUMBER OF EXERCISABLE OPTIONS AVAILABLE INDICATED IN THE ABOVE TABLE IS CORRECT.
		
		 	CENTERRA GOLD INC.
		
		 	 By:
                                         
                                   

        VP, Human Resources and AdministrationDocument

Exhibit 4.2(a)

			
	

MISSISSIPPI POWER COMPANY

TO

WELLS FARGO BANK, NATIONAL ASSOCIATION
TRUSTEE

SIXTEENTH SUPPLEMENTAL INDENTURE

DATED AS OF JUNE 29, 2021

AMENDMENTS TO THE INDENTURE
AND
PROVISIONS FOR THE

SERIES 2021A FLOATING RATE SENIOR NOTES

DUE JUNE 28, 2024

			
	

TABLE OF CONTENTS

															
			PAGE
	ARTICLE 1	2
	Series 2021A Senior Notes	2
		SECTION 101.  Establishment	2
		SECTION 102.  Definitions	3
		SECTION 103.  Payment of Principal and Interest	8
		SECTION 104.  Determination of Interest	9
		SECTION 105.  Denominations	11
		SECTION 106.  Global Securities	12
		SECTION 107.  Transfer	12
		SECTION 108.  No Redemption	13
	ARTICLE 2	13
		Modification of Original Indenture	13
		SECTION 201.  Amendments	13
	ARTICLE 3	14
		Miscellaneous Provisions	14
		SECTION 301.  Recitals by Company	14
		SECTION 302.  Ratification and Incorporation of Original Indenture	14
		SECTION 303.  Executed in Counterparts	14
		SECTION 304.  Force Majeure	15
	EXHIBIT A	Form of Series 2021A Note		
	EXHIBIT B	Certificate of Authentication		

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THIS SIXTEENTH SUPPLEMENTAL INDENTURE is made as of the 29th day of June, 2021 by and between MISSISSIPPI POWER COMPANY, a Mississippi corporation, 2992 West Beach Boulevard, Gulfport, Mississippi 39501 (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, 150 East 42nd Street, 40th Floor, New York, New York 10017 (the “Trustee”).

W I T N E S S E T H:

WHEREAS, the Company has heretofore entered into a Senior Note Indenture, dated as of May 1, 1998 (the “Original Indenture”), with Wells Fargo Bank, National Association, as successor Trustee, as heretofore supplemented;

WHEREAS, the Original Indenture is incorporated herein by this reference and the Original Indenture, as heretofore supplemented and as further supplemented and amended by this Sixteenth Supplemental Indenture, is herein called the “Indenture”;

WHEREAS, under the Original Indenture, a new series of unsecured senior debentures or notes or other evidence of indebtedness (the “Senior Notes”) may at any time be established by the Board of Directors of the Company in accordance with the provisions of the Original Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee;

WHEREAS, the Company proposes to create under the Indenture a new series of Senior Notes;

WHEREAS, additional Senior Notes of other series hereafter established, except as may be limited in the Original Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; 

WHEREAS, under Section 901(5) of the Original Indenture, the Company and the Trustee, without the consent of any Holders of Senior Notes, may enter into a supplemental indenture to change or eliminate any of the provisions of the Indenture with respect to any series of Senior Notes theretofore unissued;

WHEREAS, the Company proposes to amend the Indenture as provided herein with respect to all series of Senior Notes issued on or after the date hereof (the “Covered Senior Notes”); and

WHEREAS, all conditions necessary to authorize the execution and delivery of this Sixteenth Supplemental Indenture and to make it a valid and binding obligation of the Company have been done or performed.

NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

ARTICLE 1

Series 2021A Senior Notes

SECTION 101.  Establishment.  There is hereby established a new series of Senior Notes to be issued under the Indenture, to be designated as the Company’s Series 2021A Floating Rate Senior Notes due June 28, 2024 (the “Series 2021A Notes”).

There are to be authenticated and delivered $200,000,000 principal amount of Series 2021A Notes, and such principal amount of the Series 2021A Notes may be increased from time to time pursuant to Section 301 of the Original Indenture.  All Series 2021A Notes need not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for issuances of additional Series 2021A Notes.  Any such additional Series 2021A Notes will have the same interest rate, maturity and other terms as those initially issued (except for the public offering price and issue date and initial interest accrual date and initial Interest Payment Date (as defined below), if applicable).  No Series 2021A Notes shall be authenticated and delivered in excess of the principal amount as so increased except as provided by Sections 203, 303, 304 or 907 of the Original Indenture.  The Series 2021A Notes shall be issued in fully registered form.

The Series 2021A Notes shall be issued in the form of one or more Global Securities in substantially the form set out in Exhibit A hereto.  The Depositary with respect to the Series 2021A Notes shall be The Depository Trust Company.

The form of the Trustee’s Certificate of Authentication for the Series 2021A Notes shall be in substantially the form set forth in Exhibit B hereto.

Each Series 2021A Note shall be dated the date of authentication thereof and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for.
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The Series 2021A Notes will not have a sinking fund.

SECTION 102.  Definitions.  The following defined terms used herein shall, unless the context otherwise requires, have the meanings specified below.  Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Original Indenture.

“Benchmark” means, initially, Compounded SOFR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published SOFR Index used in the calculation thereof) or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.

“Benchmark Replacement” means the first alternative set forth in the order below that can be determined by the Company (or its Designee) as of the Benchmark Replacement Date:

(1)    the sum of: (a) the alternate rate of interest that has been selected or recommended by the Relevant Governmental Body as the replacement for the then-current Benchmark and (b) the Benchmark Replacement Adjustment;

(2)    the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

(3)    the sum of: (a) the alternate rate of interest that has been selected by the Company (or its Designee) as the replacement for the then-current Benchmark giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for United States dollar denominated floating rate notes at such time and (b) the Benchmark Replacement Adjustment.

“Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be determined by the Company (or its Designee) as of the Benchmark Replacement Date:

(1)    the spread adjustment, or method for calculating or determining such spread adjustment (which may be positive or negative value or zero) that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement;

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(2)    if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA Fallback Adjustment; and

(3)    the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Company (or its Designee) giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for United States dollar denominated floating rate notes at such time.

The Benchmark Replacement Adjustment shall not include the Margin and such Margin shall be applied to the Benchmark Replacement to determine the interest payable on the Series 2021A Notes.
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition or interpretation of “interest period”, timing and frequency of determining rates and making payments of interest, rounding of amounts or tenor, and other administrative matters), or any other changes to any other terms or provisions of the Series 2021A Notes, in each case that the Company (or its Designee) decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Company (or its Designee) decides that adoption of any portion of such market practice is not administratively feasible or if the Company (or its Designee) determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company (or its Designee) determines is reasonably necessary or practicable).

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

(1)    in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or

(2)    in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein.
For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, 
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the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark (including the daily published component used in the calculation thereof):

(1)    a public statement or publication of information by or on behalf of the administrator of the Benchmark (or such component) announcing that such administrator has ceased or will cease to provide the Benchmark (or such component), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark (or such component);

(2)    a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark (or such component), the central bank for the currency of the Benchmark (or such component), an insolvency official with jurisdiction over the administrator for the Benchmark (or such component), a resolution authority with jurisdiction over the administrator for the Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark (or such component), which states that the administrator of the Benchmark (or such component) has ceased or will cease to provide the Benchmark (or such component) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark (or such component); or

(3)    a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing that the Benchmark is no longer representative.

“Calculation Agent” means Wells Fargo Bank, National Association, or its successor appointed by the Company, acting as calculation agent.

“Compounded SOFR” will be determined by the Calculation Agent in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point):

																																				
												
		(	 	SOFR
    IndexEnd    
	  	–    1
 
	 	)	  	x
 
	  	360
		 	SOFR
IndexStart
	  	dc

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where:

“SOFR IndexStart” = For periods other than the initial Interest Period, the SOFR Index value on the preceding Interest Payment Determination Date, and, for the initial Interest Period, the SOFR Index value two United States Government Securities Business Days before the Original Issue Date;

“SOFR IndexEnd” = The SOFR Index value on the Interest Payment Determination Date relating to the Interest Payment Date (or, in the final Interest Period, relating to the Stated Maturity); and

“dc” is the number of calendar days in the relevant Observation Period.

“Designee” means an independent financial advisor or any other designee of the Company.

“Interest Payment Dates” means the 28th day of March, June, September and December of each year, commencing September 28, 2021.

“Interest Payment Determination Date” means the date that is two United States Government Securities Business Days before each Interest Payment Date.

“Interest Period” means (i) the period commencing on any Interest Payment Date (or, with respect to the initial Interest Period only, commencing on the Original Issue Date) to, but excluding, the next succeeding Interest Payment Date and (ii) in the case of the last such period, the period from and including the Interest Payment Date immediately preceding the Stated Maturity to, but excluding, the Stated Maturity.

“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time.

“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark.
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“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

“Margin” has the meaning set forth in Section 104(a) hereof.

“Observation Period” means in respect of each Interest Period, the period from, and including, the date that is two United States Government Securities Business Days preceding the first date in such Interest Period to, but excluding, the date that is two United States Government Securities Business Days preceding the Interest Payment Date for such Interest Period (or in the final Interest Period, preceding the Stated Maturity).

“Original Issue Date” means June 29, 2021.

“Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is Compounded SOFR, the SOFR Index Determination Time and (2) if the Benchmark is not Compounded SOFR, the time determined by the Company (or its Designee) in accordance with the Benchmark Replacement Conforming Changes.

“Regular Record Date” means, with respect to each Interest Payment Date, the 15th calendar day prior to such Interest Payment Date (whether or not a Business Day).

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

“SOFR” means the daily secured overnight financing rate as provided by the SOFR Administrator on the SOFR Administrator’s Website.

“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of SOFR).

“SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source.

“SOFR Index” means, with respect to any United States Government Securities Business Day:
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(1)    the SOFR Index value as published by the SOFR Administrator as such index appears on the SOFR Administrator’s Website at 3:00 p.m. (New York time) on such United States Government Securities Business Day (the “SOFR Index Determination Time”); provided that:

(2)    if a SOFR Index value does not so appear as specified in (1) above at the SOFR Index Determination Time, then: (i) if a Benchmark Transition Event and its related Benchmark Replacement Date have not occurred with respect to SOFR, then Compounded SOFR shall be the rate determined pursuant to Section 104(b) hereof; or (ii) if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to SOFR, then Compounded SOFR shall be the rate determined pursuant to Section 104(c) hereof. 

“Stated Maturity” means June 28, 2024.

“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.

“United States Government Securities Business Day” means any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

SECTION 103.  Payment of Principal and Interest.  The principal of the Series 2021A Notes shall be due at Stated Maturity.  The unpaid principal amount of the Series 2021A Notes shall bear interest at the rates set quarterly pursuant to Section 104 hereof until paid or duly provided for.  Interest shall be paid quarterly in arrears on each Interest Payment Date to the Person in whose name the Series 2021A Notes is registered at the close of business on the Regular Record Date for such Interest Payment Date, provided that interest payable at the Stated Maturity as provided herein will be paid to the Person to whom principal is payable.  Interest on the Series 2021A Notes will accrue from and including the Original Issue Date to, but excluding, the first Interest Payment Date.  Starting on the first Interest Payment Date, interest on the Series 2021A Notes will accrue from and including the last Interest Payment Date to which the Company has paid, or duly provided for the payment of, interest on the Series 2021A Notes to, but excluding, the next succeeding Interest Payment Date.  No interest will accrue on the Series 2021A Notes on the Stated Maturity.  Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series 2021A Notes are registered at the close of business on a Special Record Date for the payment of such defaulted interest to be 
8

fixed by the Trustee, notice whereof shall be given to Holders of the Series 2021A Notes not less than ten (10) days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the Series 2021A Notes shall be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Original Indenture.

The amount of interest payable for any Interest Period will be computed on the basis of a 360-day year and the actual number of days in the Observation Period.  If any Interest Payment Date falls on a day that is not a Business Day, the Company shall make the interest payment on the next succeeding Business Day unless that Business Day is in the next succeeding calendar month, in which case (other than in the case of the Stated Maturity) the Company will make the interest payment on the immediately preceding Business Day.  If an interest payment is made on the next succeeding Business Day, no interest will accrue as a result of the delay in payment.  If the Stated Maturity falls on a day that is not a Business Day, the payment due on such date will be postponed to the next succeeding Business Day, and no further interest will accrue in respect of such postponement.

Payment of the principal and interest due at the Stated Maturity shall be made upon surrender of the Series 2021A Notes at the Corporate Trust Office of the Trustee.  The principal of and interest on the Series 2021A Notes shall be paid in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.  Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer or other electronic transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto.

SECTION 104.    Determination of Interest.  

(a)    The Series 2021A Notes will bear interest for each quarterly Interest Period at an annual rate equal to Compounded SOFR, determined as described below, plus 30 basis points (30 basis points, the “Margin”).  

On each Interest Payment Determination Date relating to the applicable Interest Payment Date, the Calculation Agent will calculate the amount of accrued interest payable on the Series 2021A Notes by multiplying (i) the outstanding principal amount of the Series 2021A Notes by (ii) the product of (a) the interest rate for the relevant Interest Period multiplied by (b) the quotient of the actual number of calendar days in such Observation Period divided by 360.  In no 
9

event will the interest on the Series 2021A Notes be less than zero.  The interest rate for any Interest Period will not be adjusted for any modifications or amendments to the SOFR Index or SOFR data that the Federal Reserve Bank of New York may publish after the interest rate for that Interest Period has been determined.

Notwithstanding anything to the contrary in any transaction documents relating to the Series 2021A Notes, if the Company (or its Designee) determines on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to determining Compounded SOFR, then the benchmark replacement provisions set forth in Section 104(c) hereof will thereafter apply to all determinations of the rate of interest payable on the Series 2021A Notes.

For the avoidance of doubt, after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, the interest rate for each Interest Period on the Series 2021A Notes will be an annual rate equal to the sum of the Benchmark Replacement and the Margin.

Absent willful misconduct, bad faith or manifest error, the calculation of the applicable interest rate for each Interest Period by the Calculation Agent, or in certain circumstances described herein, by the Company (or its Designee), will be final and binding on the Company, the Trustee and the holders of the Series 2021A Notes.

(b)    SOFR Index Unavailable Provisions.  If a SOFR IndexStart or SOFR IndexEnd is not published on the associated Interest Payment Determination Date and a Benchmark Transition Event and its related Benchmark Replacement Date have not occurred with respect to SOFR, “Compounded SOFR” means, for the applicable Interest Period for which such index is not available, the rate of return on a daily compounded interest investment calculated in accordance with the formula for SOFR Averages, and definitions required for such formula, published on the SOFR Administrator’s Website at https://www.newyorkfed.org/markets/treasury-repo-reference-rates-information. For the purposes of this provision, references in the SOFR Averages compounding formula and related definitions to “calculation period” shall be replaced with “Observation Period” and the words “that is, 30-, 90-, or 180- calendar days” shall be removed.  If SOFR does not so appear for any day, “i” in the Observation Period, SOFRi for such day “i” shall be SOFR published in respect of the first preceding United States Government Securities Business Day for which SOFR was published on the SOFR Administrator’s Website.

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(c)    Effect of Benchmark Transition Event.

(i)    Benchmark Replacement.  If the Company (or its Designee) determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Series 2021A Notes in respect of such determination on such date and all determinations on all subsequent dates.

(ii)    Benchmark Replacement Conforming Changes.  In connection with the implementation of a Benchmark Replacement, the Company (or its Designee) will have the right to make Benchmark Replacement Conforming Changes from time to time.

(iii)    Decisions and Determinations.  Any determination, decision or election that may be made by the Company (or its Designee) pursuant this Section 104(c), including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or its Designee’s) sole discretion, and, notwithstanding anything to the contrary in any documentation relating to the Series 2021A Notes, shall become effective without consent from the holders of the Series 2021A Notes or any other party. For the avoidance of doubt, the Calculation Agent will be under no obligation (w) to monitor, determine or verify the unavailability or cessation of SOFR, the SOFR Index or any applicable Benchmark, or whether or when there has occurred, or to give notice to any other transaction party of the occurrence of, any Benchmark Transition Event or related Benchmark Replacement Date, (x) to select, determine or designate any alternative method, Benchmark Replacement or alternative index, or other successor or replacement alternative index, or whether any conditions to the designation of such a rate or index have been satisfied, (y) to select, determine or designate any Benchmark Replacement Adjustment, or other modifier to any replacement or successor index, or (z) to determine whether or what Benchmark Replacement Conforming Changes with respect to such alternative method, Benchmark Replacement or alternative index are necessary or advisable, if any, in connection with any of the foregoing.

SECTION 105.  Denominations.  The Series 2021A Notes may be issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof.

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SECTION 106.  Global Securities.  The Series 2021A Notes will be issued in the form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee.  Except under the limited circumstances described below, Series 2021A Notes represented by one or more Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series 2021A Notes in definitive form.  The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or to a successor Depositary or its nominee.

Owners of beneficial interests in such a Global Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global Security representing a Series 2021A Note shall be exchangeable, except for another Global Security of like denomination and tenor to be registered in the name of the Depositary or its nominee or a successor Depositary or its nominee.  The rights of Holders of such Global Security shall be exercised only through the Depositary.

Subject to the procedures of the Depositary, a Global Security shall be exchangeable for Series 2021A Notes registered in the names of persons other than the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company, or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, at a time when the Depositary is required to be so registered to act as such Depositary and no successor Depositary shall have been appointed by the Company, in each case within 90 days after the Company receives such notice or becomes aware of such cessation, (ii) the Company in its sole discretion determines that such Global Security shall be so exchangeable, or (iii) there shall have occurred an Event of Default with respect to the Series 2021A Notes.  Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series 2021A Notes registered in such names as the Depositary shall direct.

Neither the Company, the Trustee nor any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

SECTION 107.  Transfer.  No service charge will be made for any transfer or exchange of Series 2021A Notes, but payment will be required of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith.  

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SECTION 108.  No Redemption.  The Series 2021A Notes shall not be redeemable at the option of the Company prior to maturity.

ARTICLE 2

Modification of Original Indenture

SECTION 201.  Amendments.  Solely with respect to the Covered Senior Notes, the first sentence of Section 1104 of the Original Indenture is hereby amended and restated in its entirety to read as follows:

“Unless otherwise indicated in the supplemental indenture relating to any series of Senior Notes, notice of redemption shall be given in the manner provided in Section 106 to the Holders of Senior Notes to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date.”

Solely with respect to the Covered Senior Notes, the following paragraph is hereby added at the end of Section 1104 of the Original Indenture:

“Notwithstanding any other provision of this Indenture, notice of any redemption of the Senior Notes may, at the Company’s discretion, be subject to one or more conditions precedent. If such redemption is so subject to satisfaction of one or more conditions precedent, such notice shall describe each such condition, and if applicable, shall state that, in the Company’s discretion, the Redemption Date may be delayed until such time as any or all such conditions shall be satisfied or waived, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied or waived by the Redemption Date, or by the Redemption Date as so delayed. If any condition precedent has not been satisfied, the Company shall provide written notice to the Trustee at least two Business Days prior to the Redemption Date (unless a shorter notice shall be satisfactory to the Trustee) stating that such condition has not been satisfied, the notice of redemption is rescinded or delayed and the redemption shall not occur or shall be delayed.”

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Solely with respect to the Covered Senior Notes, the first sentence of Section 1106 of the Original Indenture is hereby amended and restated in its entirety to read as follows:

“Except as provided in the last paragraph of Section 1104, notice of redemption having been given as aforesaid, the Senior Notes so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified together with any accrued interest thereon, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Senior Notes shall cease to bear interest.”

ARTICLE 3

Miscellaneous Provisions

SECTION 301.  Recitals by Company.  The recitals in this Sixteenth Supplemental Indenture are made by the Company only and not by the Trustee, and all of the provisions contained in the Original Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of Series 2021A Notes and of this Sixteenth Supplemental Indenture as fully and with like effect as if set forth herein in full.

SECTION 302.  Ratification and Incorporation of Original Indenture.  As supplemented and amended hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture as supplemented and amended by this Sixteenth Supplemental Indenture shall be read, taken and construed as one and the same instrument.

SECTION 303.  Executed in Counterparts.  This Sixteenth Supplemental Indenture shall be valid, binding and enforceable against a party only when executed and delivered by an authorized individual on behalf of the party by means of (i) any electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of the Uniform Electronic Transactions Act and/or any other relevant electronic signatures law, including relevant provisions of the Uniform Commercial Code (collectively, “Signature Law”); (ii) an original manual signature; or (iii) a faxed, scanned or photocopied manual signature. Each electronic signature or faxed, scanned or photocopied manual signature shall for all purposes have the same validity, legal effect and admissibility in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability with respect to, any faxed, scanned or photocopied manual signature, or other electronic signature, of any party and shall have no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. This Sixteenth Supplemental Indenture may be executed in any number of 
14

counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute one and the same instrument. For avoidance of doubt, original manual signatures shall be used for execution or endorsement of writings when required under the Uniform Commercial Code or other Signature Law due to the character or intended character of the writings.

SECTION 304.  Force Majeure.  In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.
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IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and behalf by its duly authorized officers, all as of the day and year first above written.

									
		MISSISSIPPI POWER COMPANY

		By:	/s/Moses H. Feagin
			Moses H. Feagin
Vice President, Treasurer and Chief
Financial Officer

			WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee

		By:	/s/Todd Landry
			Name:   Todd Landry
Title:    Vice President

EXHIBIT A

FORM OF SERIES 2021A NOTE

A-1

						
	NO. ____	CUSIP NO. 605417 CC6

MISSISSIPPI POWER COMPANY
SERIES 2021A FLOATING RATE SENIOR NOTE
DUE JUNE 28, 2024

						
	Principal Amount:	$_____________
	Regular Record Date:	15th calendar day prior to the applicable Interest Payment Date (whether or not a Business Day)

	Original Issue Date:	June 29, 2021
	Stated Maturity:	June 28, 2024
	Interest Payment Dates:	28th day of March, June, September and December, commencing September 28, 2021.
	Interest Rate:	Compounded SOFR plus 30 basis points per annum
	Authorized Denominations:	$2,000 and integral multiples of $1,000 in excess thereof

Mississippi Power Company, a Mississippi corporation (the “Company,” which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to _____________________, or registered assigns, the principal sum of ___________________________DOLLARS ($___________) on the Stated Maturity shown above, and to pay interest thereon from the Original Issue Date shown above, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly in arrears on each Interest Payment Date as specified above, commencing on September 28, 2021, and on the Stated Maturity at a per annum interest rate equal to Compounded SOFR, as determined in accordance with the provisions specified below, plus 30 basis points (30 basis points, the “Margin”), until the principal hereof is paid or made available for payment and at such rates on any overdue principal and on any overdue installment of interest.  The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date (other than an Interest Payment Date that is the Stated Maturity) will, as provided in such Indenture, be paid to the Person in whose name this Note (the “Note”) is registered at the 
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close of business on the Regular Record Date as specified above next preceding such Interest Payment Date, provided that any interest payable at the Stated Maturity will be paid to the Person to whom principal is payable.  Interest on the Series 2021A Notes (as defined on the reverse hereof) will accrue from and including the Original Issue Date to, but excluding, the first Interest Payment Date.  Starting on the first Interest Payment Date, interest on the Series 2021A Notes will accrue from and including the last Interest Payment Date to which the Company has paid, or duly provided for the payment of, interest on the Series 2021A Notes to, but excluding, the next succeeding Interest Payment Date.  No interest will accrue on the Series 2021A Notes on the Stated Maturity.  Except as otherwise provided in the Indenture, 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 may either 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 Holders of Series 2021A Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the Series 2021A Notes shall be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Indenture.

The amount of interest payable for any Interest Period will be computed on the basis of a 360-day year and the actual number of days in the Observation Period.  If any Interest Payment Date falls on a day that is not a Business Day, the Company shall make the interest payment on the next succeeding Business Day unless that Business Day is in the next succeeding calendar month, in which case (other than in the case of the Stated Maturity) the Company will make the interest payment on the immediately preceding Business Day.  If an interest payment is made on the next succeeding Business Day, no interest will accrue as a result of the delay in payment.  If the Stated Maturity falls on a day that is not a Business Day, the payment due on such date will be postponed to the next succeeding Business Day, and no further interest will accrue in respect of such postponement.  A “Business Day” shall mean any day other than a Saturday or a Sunday or a day on which banks in New York City are authorized or obligated by law or executive order to remain closed or a day on which the Corporate Trust Office of the Trustee is closed for business.

Payment of the principal of and interest due at the Stated Maturity shall be made upon surrender of the Series 2021A Notes at the Corporate Trust Office of the Trustee.  The principal of and interest on the Series 2021A Notes shall be paid in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.  Payment of interest (including interest on an Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer or other electronic transfer at such place and to such account at a banking 
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institution in the United States as may be designated in writing to the Trustee at least 16 days prior to the date for payment by the Person entitled thereto.

For purposes of this Note, except as otherwise expressly provided or unless the context otherwise requires, the following terms have the following meanings:

“Benchmark” means, initially, Compounded SOFR; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Compounded SOFR (or the published SOFR Index used in the calculation thereof) or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.

“Benchmark Replacement” means the first alternative set forth in the order below that can be determined by the Company (or its Designee) as of the Benchmark Replacement Date:

(1)    the sum of: (a) the alternate rate of interest that has been selected or recommended by the Relevant Governmental Body as the replacement for the then-current Benchmark and (b) the Benchmark Replacement Adjustment;

(2)    the sum of: (a) the ISDA Fallback Rate and (b) the Benchmark Replacement Adjustment; and

(3)    the sum of: (a) the alternate rate of interest that has been selected by the Company (or its Designee) as the replacement for the then-current Benchmark giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for United States dollar denominated floating rate notes at such time and (b) the Benchmark Replacement Adjustment.

“Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be determined by the Company (or its Designee) as of the Benchmark Replacement Date:

(1)    the spread adjustment, or method for calculating or determining such spread adjustment (which may be positive or negative value or zero) that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement;

(2)    if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA Fallback Adjustment; and

(3)    the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Company (or its Designee) giving due consideration to any industry-
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accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for United States dollar denominated floating rate notes at such time.

The Benchmark Replacement Adjustment shall not include the Margin and such Margin shall be applied to the Benchmark Replacement to determine the interest payable on the Series 2021A Notes.
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition or interpretation of “interest period”, timing and frequency of determining rates and making payments of interest, rounding of amounts or tenor, and other administrative matters), or any other changes to any other terms or provisions of the Series 2021A Notes, in each case that the Company (or its Designee) decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Company (or its Designee) decides that adoption of any portion of such market practice is not administratively feasible or if the Company (or its Designee) determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company (or its Designee) determines is reasonably necessary or practicable).

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

(1)    in the case of clause (1) or (2) of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or

(2)    in the case of clause (3) of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein.

For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination.

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark (including the daily published component used in the calculation thereof):

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(1)    a public statement or publication of information by or on behalf of the administrator of the Benchmark (or such component) announcing that such administrator has ceased or will cease to provide the Benchmark (or such component), permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark (or such component);

(2)    a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark (or such component), the central bank for the currency of the Benchmark (or such component), an insolvency official with jurisdiction over the administrator for the Benchmark (or such component), a resolution authority with jurisdiction over the administrator for the Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark (or such component), which states that the administrator of the Benchmark (or such component) has ceased or will cease to provide the Benchmark (or such component) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark (or such component); or

(3)    a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing that the Benchmark is no longer representative.

“Calculation Agent” means Wells Fargo Bank, National Association, or its successor appointed by the Company, acting as calculation agent.

“Compounded SOFR” will be determined by the Calculation Agent in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest one hundred-thousandth of a percentage point):

																																				
												
		(	 	SOFR
    IndexEnd    
	  	–    1
 
	 	)	  	x
 
	  	360
		 	SOFR
IndexStart
	  	dc

where:

“SOFR IndexStart” = For periods other than the initial Interest Period, the SOFR Index value on the preceding Interest Payment Determination Date, and, for the initial Interest Period, the SOFR Index value two United States Government Securities Business Days before the Original Issue Date;

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“SOFR IndexEnd” = The SOFR Index value on the Interest Payment Determination Date relating to the Interest Payment Date (or, in the final Interest Period, relating to the Stated Maturity); and

“dc” is the number of calendar days in the relevant Observation Period.

“Designee” means an independent financial advisor or any other designee of the Company.

“Interest Payment Determination Date” means the date that is two United States Government Securities Business Days before each Interest Payment Date.

“Interest Period” means (i) the period commencing on any Interest Payment Date (or, with respect to the initial Interest Period only, commencing on the Original Issue Date) to, but excluding, the next succeeding Interest Payment Date and (ii) in the case of the last such period, the period from and including the Interest Payment Date immediately preceding the Stated Maturity to, but excluding, the Stated Maturity.

“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time.

“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark.

“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.

“Observation Period” means in respect of each Interest Period, the period from, and including, the date that is two United States Government Securities Business Days preceding the first date in such Interest Period to, but excluding, the date that is two United States Government Securities Business Days preceding the Interest Payment Date for such Interest Period (or in the final Interest Period, preceding the Stated Maturity).

“Reference Time” with respect to any determination of the Benchmark means (1) if the Benchmark is Compounded SOFR, the SOFR Index Determination Time and (2) if the 
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Benchmark is not Compounded SOFR, the time determined by the Company (or its Designee) in accordance with the Benchmark Replacement Conforming Changes.

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

“SOFR” means the daily secured overnight financing rate as provided by the SOFR Administrator on the SOFR Administrator’s Website.

“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of SOFR).

“SOFR Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source.

“SOFR Index” means, with respect to any United States Government Securities Business Day:

(1)    the SOFR Index value as published by the SOFR Administrator as such index appears on the SOFR Administrator’s Website at 3:00 p.m. (New York time) on such United States Government Securities Business Day (the “SOFR Index Determination Time”); provided that:

(2)    if a SOFR Index value does not so appear as specified in (1) above at the SOFR Index Determination Time, then: (i) if a Benchmark Transition Event and its related Benchmark Replacement Date have not occurred with respect to SOFR, then Compounded SOFR shall be the rate determined pursuant to the “SOFR Index Unavailable Provisions” described below; or (ii) if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to SOFR, then Compounded SOFR shall be the rate determined pursuant to the “Effect of Benchmark Transition Event” provisions described below. 

“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.

“United States Government Securities Business Day” means any day except for a Saturday, a Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

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(a)    Determination of Interest.  This Note will bear interest for each quarterly Interest Period at an annual rate equal to Compounded SOFR, determined as described below, plus the Margin.  

On each Interest Payment Determination Date relating to the applicable Interest Payment Date, the Calculation Agent will calculate the amount of accrued interest payable on this Note by multiplying (i) the outstanding principal amount of this Note by (ii) the product of (a) the interest rate for the relevant Interest Period multiplied by (b) the quotient of the actual number of calendar days in such Observation Period divided by 360.  In no event will the interest on this Note be less than zero.  The interest rate for any Interest Period will not be adjusted for any modifications or amendments to the SOFR Index or SOFR data that the Federal Reserve Bank of New York may publish after the interest rate for that Interest Period has been determined.

Notwithstanding anything to the contrary in any transaction documents relating to the Series 2021A Notes, if the Company (or its Designee) determines on or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to determining Compounded SOFR, then the benchmark replacement provisions set forth below under “Effect of Benchmark Transition Event” will thereafter apply to all determinations of the rate of interest payable on this Note.

For the avoidance of doubt, after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, the interest rate for each Interest Period on this Note will be an annual rate equal to the sum of the Benchmark Replacement and the Margin.

Absent willful misconduct, bad faith or manifest error, the calculation of the applicable interest rate for each Interest Period by the Calculation Agent, or, in certain circumstances described herein, by the Company (or its Designee), will be final and binding on the Company, the Trustee and the holders of the Series 2021A Notes.

(b)    SOFR Index Unavailable Provisions.  If a SOFR IndexStart or SOFR IndexEnd is not published on the associated Interest Payment Determination Date and a Benchmark Transition Event and its related Benchmark Replacement Date have not occurred with respect to SOFR, “Compounded SOFR” means, for the applicable Interest Period for which such index is not available, the rate of return on a daily compounded interest investment calculated in accordance with the formula for SOFR Averages, and definitions required for such formula, published on the SOFR Administrator’s Website at https://www.newyorkfed.org/markets/treasury-repo-reference-rates-information. For the purposes of this provision, references in the SOFR Averages compounding formula and related definitions to “calculation period” shall be replaced with “Observation Period” and the words “that is, 30-, 90-, or 180- calendar days” shall be removed.  If SOFR does not so appear for any day, “i” in the Observation Period, SOFRi for 
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such day “i” shall be SOFR published in respect of the first preceding United States Government Securities Business Day for which SOFR was published on the SOFR Administrator’s Website.

(c)    Effect of Benchmark Transition Event.

(i)    Benchmark Replacement.  If the Company (or its Designee) determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any determination of the Benchmark on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Series 2021A Notes in respect of such determination on such date and all determinations on all subsequent dates.

(ii)    Benchmark Replacement Conforming Changes.  In connection with the implementation of a Benchmark Replacement, the Company (or its Designee) will have the right to make Benchmark Replacement Conforming Changes from time to time.

(iii)    Decisions and Determinations.  Any determination, decision or election that may be made by the Company (or its Designee) pursuant this paragraph (c), including any determination with respect to tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error, will be made in the Company’s (or its Designee’s) sole discretion, and, notwithstanding anything to the contrary in any documentation relating to the Series 2021A Notes, shall become effective without consent from the holders of the Series 2021A Notes or any other party. For the avoidance of doubt, the Calculation Agent will be under no obligation (w) to monitor, determine or verify the unavailability or cessation of SOFR, the SOFR Index or any applicable Benchmark, or whether or when there has occurred, or to give notice to any other transaction party of the occurrence of, any Benchmark Transition Event or related Benchmark Replacement Date, (x) to select, determine or designate any alternative method, Benchmark Replacement or alternative index, or other successor or replacement alternative index, or whether any conditions to the designation of such a rate or index have been satisfied, (y) to select, determine or designate any Benchmark Replacement Adjustment , or other modifier to any replacement or successor index, or (z) to determine whether or what Benchmark Replacement Conforming Changes with respect to such alternative method, Benchmark Replacement or alternative index are necessary or advisable, if any, in connection with any of the foregoing.

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.
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Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

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IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

Dated: 

									
		MISSISSIPPI POWER COMPANY

		By:	
		Title:	
			

									
	Attest:

	
	Title:	 
	

{Seal of MISSISSIPPI POWER COMPANY appears here}

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CERTIFICATE OF AUTHENTICATION

    This is one of the Senior Notes referred to in the within-mentioned Indenture.

									
	Dated: 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee

		By:	
			Authorized Signatory

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(Reverse Side of Note)

This Note is one of a duly authorized issue of Senior Notes of the Company (the “Notes”), issued and issuable in one or more series under a Senior Note Indenture, dated as of May 1, 1998, as supplemented and amended (the “Indenture”), between the Company and Wells Fargo Bank, National Association, as successor Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures incidental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes issued thereunder and of the terms upon which said Notes are, and are to be, authenticated and delivered.  This Note is one of the series designated on the face hereof as Series 2021A Floating Rate Senior Notes due June 28, 2024 (the “Series 2021A Notes”) which is unlimited in aggregate principal amount.  Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Indenture.

The Series 2021A Notes are not redeemable prior to maturity.

The Series 2021A Notes will not have a sinking fund.

If an Event of Default with respect to the Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner, with the effect and subject to the conditions provided in the Indenture.

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Notes of each series to be affected 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 Notes at the time Outstanding of each series to be affected.  The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on behalf of the Holders of all Notes of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rates, and in the coin or currency, herein prescribed.
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As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company for such purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar and duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series, of authorized denominations and of like tenor and for the same aggregate principal amount, will be issued to the designated transferee or transferees.  No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

The Notes of this series are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.  As provided in the Indenture and subject to certain limitations therein set forth, Notes of this series are exchangeable for a like aggregate principal amount of Notes of this series of a different authorized denomination, as requested by the Holder surrendering the same upon surrender of the Note or Notes to be exchanged at the office or agency of the Company.

This Note shall be governed by, and construed in accordance with, the internal laws of the State of New York.

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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
	
	JT TEN -	as joint tenants
with right of
survivorship and
not as tenants
in common
	under Uniform Gifts to
Minors Act

________________________
(State)

Additional abbreviations may also be used
though not on the above list.
FOR VALUE RECEIVED, the undersigned hereby sell(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 Note and all rights thereunder, hereby irrevocably constituting and appointing
______________________________________________________________________________

______________________________________________________________________________
agent to transfer said Note on the books of the Company, with full power of substitution in the premises.
												
	Dated:			
				
				

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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.

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EXHIBIT B

CERTIFICATE OF AUTHENTICATION

    This is one of the Senior Notes referred to in the within-mentioned Indenture.

									
	Dated:	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Trustee

		By:	
			Authorized Signatory

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