Document:

csgs-ex1047d_39.htm

EXHIBIT 10.47D

SEPARATION AGREEMENT WITH RANDY R. WIESE

 

THIS SEPARATION AGREEMENT (the "Agreement") is made and entered into on May 17, 2018, by and among CSG SYSTEMS INTERNATIONAL, INC.  ("CSGS"), a Delaware corporation, CSG SYSTEMS, INC. ("Systems"), a Delaware corporation, and RANDY R. WIESE (the "Executive"). CSGS and Systems collectively are referred to in this Agreement as the "Company."

WITNESSETH:

WHEREAS, Executive and the Company have previously entered into an Amended and Restated Employment Agreement dated November 19, 2015, and as further amended on November 17, 2016 (the "Employment Agreement"), pursuant to which Executive currently serves as an Executive Vice President and Chief Financial Officer of the Company; and

WHEREAS, the Executive will retire from the Company which will include, among other things, relinquishing the position of Chief Financial Officer; and

WHEREAS, when effective, such retirement will give rise to certain rights under the Employment Agreement; and

WHEREAS, the Company and the Executive have agreed to terminate the Executive’s employment under Paragraph 10(d) of the Employment Agreement, and the Company and Executive mutually desire to arrange for such termination to be accomplished upon terms and conditions intended both to provide Executive with certain compensation and benefits and to provide for an orderly transition of Executive's duties within the Company;

NOW, THEREFORE, in consideration of the terms and provisions set forth in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows:

 

	
 
	
1.
	
Separation Pursuant to Paragraph 10(d) of the Employment Agreement. The Company and the Executive agree to terminate the Executive’s employment under Paragraph 10(d) of the Employment Agreement.

 

	
 
	
2.
	
Resignation; Continued Employment for Transition Services.  Executive will continue his employment as an Executive Vice President and Chief Financial Officer of the Company under and pursuant to the terms of the Employment Agreement until May 17, 2018 (the "Resignation Date"), and on such date Executive will cease to be an Executive Vice President and Chief Financial Officer of the Company. 

 

 

 

Executive will continue his employment as a non-executive employee of the Company after the Resignation Date through July 1, 2018 (the "Retirement Date"), and the Company agrees in all events (other than Executive's death or termination for Cause) to continue Executive's employment from the date of this Agreement through the Retirement Date regardless of any disability of Executive and will not take any action to terminate the employment of Executive prior to the Retirement Date, except for Cause and only in the event that Cause actually exists. Until the Resignation Date, Executive will continue to have the responsibilities, duties, and authorities currently associated with his positions as an Executive Vice President and Chief Financial Officer of the Company. 

After the Resignation Date, and through the Retirement Date, Executive's employment will be in a non-executive, non-officer capacity solely to assist, as requested by the Chief Executive Officer of the Company, with the transition of his previous duties to other employees of the Company. After the Resignation Date, Executive (i) will not have any duties or perform any functions for the Company or any subsidiary or affiliate of the Company corresponding to the duties or functions of an officer of the Company or any subsidiary or affiliate of the Company; except, however, activities related to Executive’s resignation or removal from positions with any direct or indirect subsidiaries or affiliates of the CSGS other than Systems, and (ii) will not perform any policy-making functions for the Company or any subsidiary or affiliate of the Company.  Executive hereby resigns as an officer of and from all other positions with CSGS and Systems, effective on the Resignation Date, and the Company accepts such resignation. The Company and Executive will use their respective best efforts to effect Executive's resignation or removal from all positions with any direct or indirect subsidiaries or affiliates of CSGS other than Systems as soon as practicable after the Resignation Date. 

 

	
 
	
(a)
	
Compensation in Respect of Continued Employment.

 

	
 
	
(i)
	
Compensation from Resignation Date to Retirement Date.   Executive's perquisites, and expense reimbursements under Paragraphs 6, 7, and 8 of the Employment Agreement from the Resignation Date through the Retirement Date will remain the same as those in effect on the date of this Agreement as a non-executive employee of the Company.  The Executive’s base salary from the Resignation Date through the Retirement Date will be adjusted to an annual rate equal to fifty percent (50%) of his base salary in effect as of the date of this Agreement.  Such salary and employee benefit programs will continue to be administered in accordance with the Company's regular payroll practices.

 

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(ii)
	
Annual Incentive Bonus Eliminated. The Executive will not be entitled to any amounts for his annual incentive bonus for 2018, as described under Paragraph 5 of the Employment Agreement.

 

 

	
 
	
(iii)
	
Unused Vacation.  Any unused vacation earned pursuant to paragraph 8 of the Employment Agreement as of the Retirement date shall be forfeited by the Executive.

 

 

	
 
	
(iv)
	
Equity Incentives. Effective on the Resignation Date, all of Executive's then existing unvested shares of Restricted Stock Awards (as shown in the table below) and all related accrued dividends (“Unvested RSAs”) from the Company (symbol: CSGS) will automatically vest in full and be earned and distributed to Executive in accordance with their terms.

 

		
	
 

Date of Award
	
Number of Unvested RSAs

	
2/19/2015
	
3,652

	
3/23/2016
	
10,417

	
2/25/2016
	
5,613

	
2/23/2017
	
9,280

	
2/23/2017
	
6,960

	
 
	
 

	
Total
	
35,922

 

 

	
 
	
(v)
	
Resignation from Stock Repurchase Committee. The Stock Repurchase Committee of the Company is comprised of certain members of the Company's senior management and is generally responsible for the governance and administration of the repurchase of shares of CSGS. This Agreement constitutes the immediate resignation of Executive from the Stock Repurchase Committee, and the Company hereby accepts such resignation.

 

 

	
 
	
(vi)
	
Stock Ownership Guideline Termination. The Company has a policy in effect whereby the Executive is required to hold shares equivalent to one times his base salary. The Company agrees that such stock holding requirement will no longer apply to Executive after the Resignation Date. However, Executive shall continue to comply with all applicable 

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securities and other laws and Company policies with respect to dispositions of CSGS stock.

 

 

	
 
	
(vii)
	
Electronic Devices. As of the Retirement Date, Executive shall be entitled to retain as his own property the Company-owned computer, iPad, and iPhone which he currently uses and all personal information contained on each such device, including Outlook Contacts and Calendar entries. The Company shall have its IT department remove all confidential or proprietary material from such devices, and the office of the CISO shall audit such devices for compliance.

 

 

	
 
	
(viii)
	
Personal Effects. The Company shall arrange for the professional packing of Executive's personal effects in his office and the shipment of such items to his personal residence.

 

	
 
	
(b)
	
Death of Executive. If Executive dies prior to the date on which he becomes entitled to receive (and has received) all compensation and benefits which he is due under Paragraph 10(d) of the Employment Agreement, the Unvested RSAs, or this Agreement (without duplication), then the Company shall pay to his estate all such compensation when otherwise due, and all such equity and benefits when otherwise payable, as though Executive had not died.

 

	
 
	
3.
	
Definition of "Cause". For purposes of this Agreement, "Cause" means only (i) Executive's confession or conviction of theft, fraud, embezzlement, or other crime involving dishonesty associated with the Company, (ii) Executive's certification of materially inaccurate financial or other information pertaining to the Company or any of the subsidiaries of the Company with actual knowledge on the part of Executive that such financial or other information was inaccurate, (iii) Executive's refusal or willful failure to cooperate with an investigation by a governmental agency pertaining to the financial or other business affairs of the Company or any of the subsidiaries of the Company unless such refusal or willful failure is based upon a written directive of the Board of Directors of CSGS or the written advice of counsel, (iv) a material breach by Executive of any of his fiduciary duties to the Company or any of the subsidiaries of the Company and, if such breach is curable, Executive's  failure to cure such  breach within ten  (10) days after Executive's receipt of a written notice from the Board of Directors of CSGS setting forth in reasonable detail the particulars of such breach, or (v) willful and material misconduct or fraud on the part of Executive in the performance of Executive's duties under this Agreement as determined in good faith by the Board of Directors of CSGS.

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4.
	
Continuing Obligations. The following provisions of the Employment Agreement are incorporated in this Agreement by this reference and will remain in effect from and after the Retirement Date as follows:

 

	
 
	
(a)
	
Nondisclosure. Paragraph 11 of the Employment Agreement (regarding the nondisclosure of confidential information, trade secrets, or proprietary data) will remain in effect in accordance with its provisions.

 

	
 
	
(b)
	
Non-Solicitation of Employees. Paragraph 18 of the Employment Agreement (regarding the non-solicitation of employees) will remain in effect in accordance with its provisions.

 

	
 
	
(c)
	
Post-Termination Noncompetition. Paragraph 19 of the Employment Agreement (regarding post-termination noncompetition) will remain in effect in accordance with its provisions.

 

	
 
	
5.
	
Compensation, Benefits, and Other Payments Pursuant to Paragraph 10(d) of the Employment Agreement. The Company and Executive agree that, unless the employment of Executive is terminated by the Company for Cause prior the Resignation Date, on the Resignation Date Executive will become entitled to all of the compensation, benefits, and other payments which are provided pursuant to Paragraph 10(d) of the Employment Agreement and that such compensation, benefits, and other payments will be payable in accordance with the terms and upon the conditions set forth in Paragraph 10(d) of the Employment Agreement; for such purpose, the provisions of Paragraph 10(d) of the Employment Agreement are incorporated in this Paragraph 5 by this reference. 

 

	
 
	
(a)
	
The amount payable to Executive pursuant to Paragraph 10(d)(ii) of the Employment Agreement is $2,580,441 (two million, five hundred eighty thousand, four hundred forty-one).  Considering the payment provisions in paragraph 10(d)(ii) of the Employment Agreement, and the Section 409A deferral requirements as outlined in paragraph 16(a) of this Agreement, the payment amounts and timing thereof are agreed to as follows:

 

 

 

 

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Payment
	
Pay Date
	
Amount

	
1
	
1/11/2019
	
1,505,257.25

	
2
	
2/8/2019
	
215,036.75

	
3
	
3/8/2019
	
215,036.75

	
4
	
4/5/2019
	
215,036.75

	
5
	
5/3/2019
	
215,036.75

	
6
	
5/31/2019
	
215,036.75

	
Total
	
 
	
2,580,441.00

	
 
	
 
	
 

 

 

 

	
 
	
(b)
	
The Resignation Date shall serve as the "Termination Date" for purposes of Paragraph 10(d) of the Employment Agreement, except for paragraph 10(d)(iv) for which the Retirement Date shall serve as the Termination Date.  Because Executive will be entitled to continue to participate in the Company benefit plans as a non-executive employee through the Retirement Date as noted in 2(a)(i) above, and then for one (1) year from the Termination date at the Company’s expense as specified in Paragraph 10(d)(iv) of the Employment Agreement.  For clarification and the avoidance of doubt, because the Executive’s Retirement Date in on July 1, 2018, the Executive will continue to receive benefit coverage as an employee through July 31, 2018 at the Company’s expense; thereafter, the Executive shall receive post-employment benefits at the Company’s expense until July 31, 2019.  Executive's COBRA rights shall not commence until the date on which Executive is no longer entitled to participate in such benefit plans (i.e., August 1, 2019).  

 

	
 
	
6.
	
Nonassignability. Except for those rights that may accrue to Executive’s family or estate in the event of his death or disability, neither this Agreement nor any right or interest of Executive under this Agreement shall be subject, in any manner, to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge, whether voluntary or involuntary, by operation of law or otherwise, and any attempt at such will be void. No compensation or benefit due Executive under this Agreement shall in any way be subject to the debts, contracts, liabilities, engagements or torts of Executive or subject to attachment or legal process against Executive.

 

	
 
	
7.
	
Entire Agreement; Modification. Except as specifically set forth in Paragraph 4 and Paragraph 5 of this Agreement with respect to specified provisions of the Employment Agreement incorporated in this Agreement, this Agreement will supersede the Employment Agreement in its entirety as of the Resignation Date, and the Employment 

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Agreement will cease to have any further force or effect from and after the Resignation Date. This Agreement sets forth the entire agreement and understanding of the promises concerning the subject matter of this Agreement and supersedes all prior agreements, arrangements, and understandings relating to that subject matter including, without   limitation, the Employment Agreement (except as specifically set forth in the preceding sentence). No term or provision of this Agreement may be modified or extinguished, in whole or in part, except by a writing which is dated and signed by the patties to this Agreement. No representation, promise, or inducement has been made to or relied upon by or on behalf of the Company or Executive concerning the subject matter of this Agreement which is not set forth in this Agreement. In particular, Executive acknowledges and agrees that he is not entitled to receive from the Company any severance, incentive, or other compensation or payment related to his services to the Company or the termination of his employment by the Company, other than the compensation and payments specifically set forth in this Agreement).

 

	
 
	
8.
	
Waiver. No term or condition of this Agreement shall be deemed to have been waived, nor shall there be an estoppel against the enforcement of any provision of this Agreement, except by a written instrument signed by the patty charged with such waiver or estoppel.

 

	
 
	
9.
	
Notices. All notices or communications hereunder shall be in writing, addressed as follows:

 

To the Company:

 

CSG Systems International, Inc. 

6175 S. Willow Drive, 10th Floor

Greenwood Village, CO 80112

Attn: Chief Executive Officer bret.griess@csgi.com

 

and

CSG Systems, Inc. 

6175 S. Willow Drive, 10th Floor

Greenwood Village, CO 80112

Attn: Chief Executive Officer bret.griess@csgi.com

 

 

 

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To Executive:

Randy Wiese

17662 Nina Street

Omaha, Nebraska 68130

kwiese1@cox.net

 

and

Andrew Shoemaker, Esq.

Shoemaker, Ghiselli & Schwartz, LLC

1811 Pearl Street

Boulder, CO  80302

 

All such notices shall be conclusively deemed to be received and shall be effective: (i) if sent by hand delivery, upon receipt, (ii) if sent by e-mail, telecopy or facsimile transmission, upon confirmation of receipt by the sender of such transmission, or (iii) if sent by registered or certified mail, on the fifth day after the day on which such notice is mailed.

 

	
 
	
10.
	
Source of Payments. All cash payments provided for in this Agreement will be paid from the general funds of the Company. Executive's status with respect to amounts owed under this Agreement will be that of a general unsecured creditor of the Company.

 

	
 
	
11.
	
Payment Acceleration upon Anticipated Change of Control. If the Company enters into any definitive agreement whereby all or substantially all of the assets or stock of the Company is to be acquired by an unrelated third patty, then the Company agrees that it will pay to Executive within ten (10) business days after the signing such definitive agreement by the parties thereto all payments to which Executive is entitled under this Agreement but which are then unpaid. For avoidance of doubt, if the payment required under this Section 11 would cause additional taxes and interest to be incurred under Section 409A, then the provisions of Section 16 will be applied to avoid such a result.

 

 

	
 
	
12.
	
Federal Income Tax Withholding. The Company may withhold from any compensation or benefits payable under this Agreement all federal, state, city, or other taxes to the extent required pursuant to any law or governmental regulation or ruling.

 

	
 
	
13.
	
Severability. If any provision of this Agreement is held to be invalid, illegal or unenforceable, in whole or part, then such invalidity will not affect any otherwise valid provision, and all other valid provisions will remain in full force and effect.

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14.
	
Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, and all of which together will constitute one document.

 

	
 
	
15.
	
Titles. The titles and headings preceding the text of the paragraphs and subparagraphs of this Agreement have been inserted solely for convenience of reference and do not constitute a part of this Agreement or affect its meaning, interpretation or effect.

 

	
 
	
16.
	
Section 409A Compliance.

 

	
 
	
(a)
	
Each payment under this Agreement, including each payment in a series of installment payments, is intended to be a separate payment for purposes of Treas. Reg. § 1.409A- 2(b), and is intended to be: (i) exempt from Section 409A of the Code, the regulations and other binding guidance promulgated thereunder ("Section 409A"), including, but not limited to, by compliance with the short-term deferral exemption as specified in Treas. Reg. § 1.409A-l(b)(4) and the involuntary separation pay exception within the meaning of Treas. Reg. § 1.409A- 1(b)(9)(iii), or (ii) in compliance with Section 409A, including, but not limited to, being paid pursuant to a fixed schedule or specified date pursuant to Treas. Reg. § 1.409A-3(a) and the provisions of this Agreement will be administered, interpreted and construed accordingly. Notwithstanding the foregoing provisions of this Agreement, if the payment of any compensation or benefits under this Agreement would be subject to additional taxes and interest under Section 409A because the timing of such payment is not delayed as provided in Section 409A(a)(2)(B)(i) of the Code, and Executive constitutes a specified employee within the meaning of Section 409A(a)(2)(B)(i) of the Code, then any such payments that Executive would otherwise be entitled to during the first six months following Executive's separation from service within the meaning of Section 409A(a)(2)(A)(i) of the Code shall be accumulated and paid on the date that is six months after Executive's separation from service (or if such payment date does not fall on a business day of the Company, the next following business day of the Company), or such earlier date upon which such amount can be paid under Section 409A without being subject to such additional taxes and interest.

 

	
 
	
(b)
	
All taxable reimbursements pursuant to this Agreement shall be made in accordance with Treas. Reg. § 1.409A-3(i)(l)(iv) such that the reimbursements will be deemed payable at a specified time or on a fixed schedule relative to a permissible payment event. Specifically, the amounts reimbursed under this 

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Agreement during Executive's taxable year may not affect the amounts reimbursed in any other taxable year (except that total reimbursements may be limited by a lifetime maximum under a group health plan), the reimbursement of an eligible expense shall be made on or before the last day of Executive's taxable year following the taxable year in which the expense was incurred, and the right to reimbursement is not subject to liquidation or exchange for another benefit.

 

	
 
	
17.
	
Governing Law; Venue. This Agreement shall be construed and enforced in accordance with the laws of the State of Colorado. Any suit, action or other legal proceeding arising out of this Agreement shall be brought in the state or federal courts having jurisdiction in Denver, Colorado. Each of Executive and the Company consents to the jurisdiction of any such court in any such suit, action, or proceeding and waives any objection that he or it may have to the laying of venue of any such suit, action, or proceeding in any such court. If any dispute arises under this Agreement after a change in control of the Company has occurred, then the acquiring company shall pay the reasonable legal and associated fees of Executive reasonably incurred in connection with such dispute, regardless of the outcome of such dispute, unless it is determined that such dispute was initiated by Executive in bad faith and without a substantial basis in belief or fact.

 

	
 
	
18.
	
Terms. The term "affiliate" means any subsidiary, any officer, director or employee of the Company or any subsidiary, and any former officer, director or employee of the Company or any subsidiary.

 

	
 
	
19.
	
Successor Obligations. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform this Agreement if no such succession had taken place. As used in this Agreement, "Company" includes both the Company as defined above and any such successor to the Company's business and/or assets which assumes and agrees to perform this Agreement by operation of law or otherwise.

 

	
 
	
20.
	
Reimbursement of Professional Advisor Fees. The Company shall pay Executive's legal counsel and 2018 financial/tax advisor/preparation fees, up to $8,000.00, incurred in connection with Executive's resignation and separation from the Company and the negotiation of this Agreement, promptly upon receipt of documentation of such fees.

 

 

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21.
	
Directors and Officers Insurance Coverage.

 

	
 
	
(a)
	
General. The Company hereby covenants and agrees that, so long as Executive shall continue to serve as an officer or director of the Company (or its subsidiaries or affiliates) and thereafter so long as Executive shall be subject to any possible proceeding by reason of the fact that Executive was an officer or director of the Company (or its subsidiaries or affiliates), the Company shall, subject to Section 2l(b) below, use reasonable efforts to obtain and maintain in full force and effect directors' and officers' liability insurance  ("D&O Insurance") in reasonable amounts from established and reputable insurers, and Executive shall be a covered party under such D&O Insurance to the maximum extent of the coverage available for any director or officer of the Company.

 

	
 
	
(b)
	
Commercial Reasonableness. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain D&O Insurance if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, or the coverage is reduced by exclusions so as to provide an insufficient benefit and D&O Insurance is in fact not provided for the other directors and officers of the Company.

 

	
 
	
(c)
	
Change in Control. In the event of a Change in Control pursuant to which the Company or any successor is obligated to provide D&O Insurance for a period of time following the effective date of the transaction or to purchase a D&O Insurance tail policy, Executive shall be a covered party under such D&O Insurance or tail policy to the maximum extent of the coverage available for any director or officer of the Company.

 

	
 
	
22.
	
Waiver and Release. Promptly after the Retirement Date, Executive and the Company will enter into a mutual waiver and release of all claims against the other (and in respect of the Company, its officers, directors, agents, and employees), whether known or unknown, in a form mutually acceptable to the Company and Executive. Such release shall, on the part of Executive, contain provisions customarily included in a release executed by an employee in consideration of payments or benefits received by the employee in connection with the employee's termination of employment.

 

 

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

 

		
	
 
	
CSG SYSTEMS INTERNATIONAL, INC.

	
 
	
 

	
 
	
By: _/s/ Bret C. Griess________________

	
 
	
Chief Executive Officer

	
 
	
 

	
 
	
CSG SYSTEMS, INC.

	
 
	
 

	
 
	
By: _/s/ Bret C. Griess______________ _

	
 
	
Chief Executive Officer

	
 
	
 

	
 
	
/s/ Randy R. Wiese

	
 
	
Randy R. Wiese

 

 

 

 

 

 

 

 

 

12EX-4(a)(62)

  

 
 Exhibit 4(a)(62) 

AVISTA CORPORATION 
 TO

 CITIBANK, N.A. 

As Successor Trustee under 

Mortgage and Deed of Trust, 

dated as of June 1, 1939 
  

 
 Sixty-first
Supplemental Indenture 
 Providing among other things for a series of bonds designated 

“First Mortgage Bonds, 4.35% Series due 2048” 

Due June 1, 2048 
  

 
 Dated as of
May 1, 2018 
  
  

 

 SIXTY-FIRST SUPPLEMENTAL INDENTURE 

THIS INDENTURE, dated as of the 1st day of May, 2018, between AVISTA CORPORATION
(formerly known as The Washington Water Power Company), a corporation of the State of Washington, whose post office address is 1411 East Mission Avenue, Spokane, Washington 99202 (the “Company”), and CITIBANK, N.A., formerly First
National City Bank (successor by merger to First National City Trust Company, formerly City Bank Farmers Trust Company), a national banking association incorporated and existing under the laws of the United States of America, whose post office
address is 388 Greenwich Street, 14th Floor, New York, New York 10013, as trustee (the “Trustee”) under the Mortgage and Deed of Trust, dated as of June 1, 1939 (the “Original
Mortgage”), executed and delivered by the Company to secure the payment of bonds issued or to be issued under and in accordance with the provisions thereof, this indenture (the “Sixty-first Supplemental Indenture”) being supplemental
to the Original Mortgage, as heretofore supplemented and amended. 
 WHEREAS pursuant to a written request of the Company made in accordance
with Section 103 of the Original Mortgage, Francis M. Pitt (then Individual Trustee under the Original Mortgage, as theretofore supplemented and amended) ceased to be a trustee thereunder on July 23, 1969, and all of his powers as
Individual Trustee have devolved upon the Trustee and its successors alone; and 
 WHEREAS by the Original Mortgage the Company covenanted
that it would execute and deliver such further instruments and do such further acts as might be necessary or proper to carry out more effectually the purposes of the Original Mortgage and to make subject to the lien of the Original Mortgage any
property thereafter acquired intended to be subject to the lien thereof; and 
 WHEREAS the Company has heretofore executed and delivered,
in addition to the Original Mortgage, the indentures supplemental thereto and amendatory thereof, and has issued the series of bonds, set forth in Exhibit A hereto (the Original Mortgage, as supplemented and amended by the First through
Sixtieth Supplemental Indentures and, if the context shall so require, as to be supplemented by this Sixty-first Supplemental Indenture, being herein sometimes called the “Mortgage”); and 

WHEREAS the Original Mortgage and the First through Fifty-ninth Supplemental Indentures have been appropriately filed or recorded in various
official records in the States of Washington, Idaho, Montana and Oregon, as set forth in the First through Sixtieth Supplemental Indentures and the Instrument of Further Assurance, dated December 15, 2001, hereinafter referred to; and 

WHEREAS the Sixtieth Supplemental Indenture, dated as of December 1, 2017, has been appropriately filed or recorded in the various
official records in the States of Washington, Idaho, Montana and Oregon, as set forth in Exhibit B hereto; and 

  
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 WHEREAS for the purpose of confirming or perfecting the lien of the Mortgage on certain of its
properties, the Company has heretofore executed and delivered a Short Form Mortgage and Security Agreement, in multiple counterparts dated as of various dates in 1992, and such instrument has been appropriately filed or recorded in the various
official records in the States of Montana and Oregon; and 
 WHEREAS for the purpose of confirming or perfecting the lien of the Mortgage on
certain of its properties, the Company has heretofore executed and delivered an Instrument of Further Assurance dated as of December 15, 2001, and such instrument has been appropriately filed or recorded in the various official records in the
States of Washington, Idaho, Montana and Oregon; and 
 WHEREAS in addition to the property described in the Mortgage the Company has
acquired certain other property, rights and interests in property; and 
 WHEREAS Section 120 of the Original Mortgage, as heretofore
amended, provides that, without the consent of any holders of bonds, the Company and the Trustee, at any time and from time to time, may enter into indentures supplemental to the Original Mortgage for various purposes set forth therein, including,
without limitation, to cure ambiguities or correct defective or inconsistent provisions or to make other changes therein that shall not adversely affect the interests of the holders of bonds of any series in any material respect or to establish the
form or terms of bonds of any series as contemplated by Article II; and 
 WHEREAS the Company now desires to create a new series of bonds;
and 
 WHEREAS Section 8 of the Original Mortgage, as heretofore amended, provides that the form of each series of bonds (other than
the First Series) issued thereunder and of the coupons to be attached to coupon bonds of such series shall be established by Resolution of the Board of Directors of the Company or by Treasurer’s Certificate, or shall be set forth in an
indenture supplemental to the Original Mortgage; that the form of such series, as so established, shall specify the descriptive title of the bonds and various other terms thereof; and that such series may also contain such provisions not
inconsistent with the provisions of the Mortgage as the Company may, in its discretion, cause to be inserted therein expressing or referring to the terms and conditions upon which such bonds are to be issued and/or secured under the Mortgage; and

 WHEREAS the execution and delivery by the Company of this Sixty-first Supplemental Indenture and the terms of the Bonds of the Sixty-second Series, hereinafter referred to, have been duly authorized by the Board of Directors of the Company by appropriate Resolutions of said Board of Directors, and all things necessary to make this
Sixty-first Supplemental Indenture a valid, binding and legal instrument have been performed; 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH:
That the Company, in consideration of the premises and of other good and valuable consideration, the receipt and sufficiency whereof are hereby acknowledged, hereby confirms the estate, title and rights of the Trustee (including, without limitation,
the lien of the Mortgage on the property of the Company subjected thereto, whether now owned or hereafter acquired) held as security for the payment of both the principal of and interest and premium, if any, 

  
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on the bonds from time to time issued under the Mortgage according to their tenor and effect and the performance of all the provisions of the Mortgage and of such bonds, and, without limiting the
generality of the foregoing, hereby confirms the grant, bargain, sale, release, conveyance, assignment, transfer, mortgage, pledge, setting over and confirmation unto the Trustee, contained in the Mortgage, of all the following described properties
of the Company, whether now owned or hereafter acquired, namely: 
 All of the property, real, personal and mixed, of every
character and wheresoever situated (except any hereinafter or in the Mortgage expressly excepted) which the Company now owns or, subject to the provisions of Section 87 of the Original Mortgage, may hereafter acquire prior to the satisfaction
and discharge of the Mortgage, as fully and completely as if herein or in the Mortgage specifically described, and including (without in anywise limiting or impairing by the enumeration of the same the scope and intent of the foregoing or of any
general description contained in Mortgage) all lands, real estate, easements, servitudes, rights of way and leasehold and other interests in real estate; all rights to the use or appropriation of water, flowage rights, water storage rights, flooding
rights, and other rights in respect of or relating to water; all plants for the generation of electricity, power houses, dams, dam sites, reservoirs, flumes, raceways, diversion works, head works, waterways, water works, water systems, gas plants,
steam heat plants, hot water plants, ice or refrigeration plants, stations, substations, offices, buildings and other works and structures and the equipment thereof and all improvements, extensions and additions thereto; all generators, machinery,
engines, turbines, boilers, dynamos, transformers, motors, electric machines, switchboards, regulators, meters, electrical and mechanical appliances, conduits, cables, pipes and mains; all lines and systems for the transmission and distribution of
electric current, gas, steam heat or water for any purpose; all towers, mains, pipes, poles, pole lines, conduits, cables, wires, switch racks, insulators, compressors, pumps, fittings, valves and connections; all motor vehicles and automobiles; all
tools, implements, apparatus, furniture, stores, supplies and equipment; all franchises (except the Company’s franchise to be a corporation), licenses, permits, rights, powers and privileges; and (except as hereinafter or in the Mortgage
expressly excepted) all the right, title and interest of the Company in and to all other property of any kind or nature. 

The Company hereby acknowledges that, as of the date of this Sixty-first Supplemental Indenture, the real property located in
the State of Washington, taken as a whole, that is so conveyed or intended to be so conveyed under the Mortgage is not used principally for agricultural purposes. 

The property so conveyed or intended to be so conveyed under the Mortgage shall include, but shall not be limited to, the
property set forth in Exhibit C hereto, the particular description of which is intended only to aid in the identification thereof and shall not be construed as limiting the force, effect and scope of the foregoing. 

  
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 TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or in
anywise appertaining to the aforesaid property or any part thereof, with the reversion and reversions, remainder and remainders and (subject to the provisions of Section 57 of the Original Mortgage) the tolls, rents, revenues, issues, earnings,
income, product and profits thereof, and all the estate, right, title and interest and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid property and franchises and every part
and parcel thereof. 
 THE COMPANY HEREBY CONFIRMS that, subject to the provisions of Section 87 of the Original Mortgage, all the
property, rights, and franchises acquired by the Company after the date of the Original Mortgage (except any in the Mortgage expressly excepted) are and shall be as fully embraced within the lien of the Mortgage as if such property, rights and
franchises had been owned by the Company at the date of the Original Mortgage and had been specifically described therein. 
 PROVIDED THAT
the following were not and were not intended to be then or now or hereafter granted, bargained, sold, released, conveyed, assigned, transferred, mortgaged, pledged, set over or confirmed under the Mortgage and were, are and shall be expressly
excepted from the lien and operation of the Mortgage namely: (l) cash, shares of stock and obligations (including bonds, notes and other securities) not hereafter specifically pledged, paid, deposited or delivered under the Mortgage or
covenanted so to be; (2) merchandise, equipment, materials or supplies held for the purpose of sale in the usual course of business or for consumption in the operation of any properties of the Company; (3) bills, notes and accounts
receivable, and all contracts, leases and operating agreements not specifically pledged under the Mortgage or covenanted so to be; (4) electric energy and other materials or products generated, manufactured, produced or purchased by the Company
for sale, distribution or use in the ordinary course of its business; and (5) any property heretofore released pursuant to any provisions of the Mortgage and not heretofore disposed of by the Company; provided, however, that the property and
rights expressly excepted from the lien and operation of the Mortgage in the above subdivisions (2) and (3) shall (to the extent permitted by law) cease to be so excepted in the event that the Trustee or a receiver or trustee shall enter upon
and take possession of the Mortgaged and Pledged Property in the manner provided in Article XII of the Original Mortgage by reason of the occurrence of a Completed Default as defined in said Article XII. 

TO HAVE AND TO HOLD all such properties, real, personal and mixed, granted, bargained, sold, released, conveyed, assigned, transferred,
mortgaged, pledged, set over or confirmed by the Company in the Mortgage as aforesaid, or intended so to be, unto the Trustee, and its successors, heirs and assigns forever. 

IN TRUST NEVERTHELESS, for the same purposes and upon the same terms, trusts and conditions and subject to and with the same provisos and
covenants as set forth in the Mortgage, this Sixty-first Supplemental Indenture being supplemental to the Mortgage. 

  
 4 

 AND IT IS HEREBY FURTHER CONFIRMED by the Company that all the terms, conditions, provisos,
covenants and provisions contained in the Mortgage shall affect and apply to the property in the Mortgage described and conveyed, and to the estates, rights, obligations and duties of the Company and the Trustee and the beneficiaries of the trust
with respect to said property, and to the Trustee and its successors in the trust, in the same manner and with the same effect as if the said property had been owned by the Company at the time of the execution of the Original Mortgage, and had been
specifically and at length described in and conveyed to said Trustee by the Original Mortgage as a part of the property therein stated to be conveyed. 

The Company further covenants and agrees to and with the Trustee and its successor or successors in such trust under the Mortgage, as follows:

 ARTICLE I 

Sixty-second Series of Bonds 

SECTION 1. (I) There shall be a series of bonds designated “First Mortgage Bonds, 4.35% Series due 2048” (herein sometimes referred
to as the “Bonds of the Sixty-second Series”), each of which shall also bear the descriptive title First Mortgage Bond and the form thereof is set forth on Exhibit D hereto. The Bonds of the Sixty-second Series shall be issued
as fully registered bonds without coupons in denominations of One Thousand Dollars and, at the option of the Company, any amount in excess thereof (the exercise of such option to be evidenced by the execution and delivery thereof) and shall be dated
as in Section 10 of the Original Mortgage provided. 
 (II) The Bonds of the Sixty-second Series shall have the following terms and
characteristics: 
 (a) the Bonds of the Sixty-second Series shall be initially authenticated and delivered under the
Mortgage in the aggregate principal amount of $375,000,000; it being understood that, subject to the satisfaction of the conditions set forth in the Mortgage, there shall be no limit upon the aggregate principal amount of Bonds of the Sixty-second
Series that may be authenticated and delivered thereunder. 
 (b) the principal of Bonds of the Sixty-second Series shall
(unless theretofore paid) be payable on the Stated Maturity Date (as hereinafter defined); 
 (c) the Bonds of the
Sixty-second Series shall bear interest at the rate of four and thirty-five one-hundredths percentum (4.35%) per annum; interest on such Bonds shall accrue from and including May 22, 2018, except as
otherwise provided in the form of bond attached hereto as Exhibit D; interest on such Bonds shall be payable on each Interest Payment Date and at Maturity (as each of such terms is hereinafter defined); and interest on such Bonds during any
period for which payment is made shall be computed on the basis of a 360-day year consisting of twelve 30-days months; 

  
 5 

 (d) the principal of and premium, if any, and interest on each Bond of the
Sixty-second Series payable at Maturity shall be payable to the registered owner thereof upon presentation thereof at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency as at the time of
payment is legal tender for public and private debts. The interest on each Bond of the Sixty-second Series (other than interest payable at Maturity) shall be payable by check, in similar coin or currency, mailed to the registered owner thereof as of
the close of business on the Record Date (as hereinafter defined) next preceding each Interest Payment Date; provided, however, that if such registered owner shall be a securities depositary, such payment may be made by such other means in lieu of
check as shall be agreed upon by the Company, the Trustee and such registered owner. Interest payable at Maturity shall be paid to the person to whom principal shall be paid. 

(e) (i) Prior to the Par Call Date (as hereinafter defined), the Bonds of the Sixty-second Series shall be redeemable, in
whole at any time or in part from time to time, at the option of the Company at a redemption price equal to the greater of 

(A) 100% of the principal amount of the Bonds being redeemed, and 

(B) the sum of the present values of the remaining scheduled payments of principal of and interest on the Bonds being redeemed
(assuming, for this purpose, that the Bonds were stated to mature on the Par Call Date and excluding any portion of any scheduled payment of interest that accrued prior to the redemption date), discounted to the date of redemption on a semiannual
basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Yield (as hereinafter defined) plus 20 basis points,

 plus, in the case of either (A) or (B) above, whichever is applicable, accrued and unpaid interest on such Bonds to the date
of redemption. 
 (ii) On or after the Par Call Date, the Bonds of the Sixty-second Series shall be redeemable in whole at
any time, or in part from time to time, at the option of the Company at a redemption price equal to 100% of the principal amount of the Bonds being redeemed plus accrued and unpaid interest on such Bonds to the date of redemption. 

(f) (i) “Par Call Date” means December 1, 2047. 

(ii) “Treasury Yield” means, with respect to any redemption of Bonds of the Sixty-second Series, 

(A) the yield to maturity reported in the Statistical Release, for the latest day for which such yields have been so reported
as of the Calculation Date, for the U.S. Treasury constant maturity with a term equal to the remaining term of such Bonds (assuming, for this purpose, that the Bonds were stated to mature on the Par Call Date), or 

  
 6 

 (B) if there is no such U.S. Treasury constant maturity having a term equal to
such remaining term, the yield to maturity determined by linear interpolation between (I) the U.S. Treasury constant maturity reported in the Statistical Release with the term next longer than such remaining term and (II) the U.S. Treasury
constant maturity so reported with the term next shorter than such remaining term. 
 The Treasury Yield shall be rounded to two decimal
places. The Treasury Yield shall be calculated as of the third Business Day (as hereinafter defined) preceding the earlier of (X) the date notice of redemption is mailed to holders of Bonds of the Sixty-second Series and (Y) the date
irrevocable arrangements with the Trustee for the mailing of such notice shall have been made, as the case may be (the “Calculation Date”). 

(iii) “Statistical Release” means the daily statistical release entitled “H.15 Selected Interest Rates”, or
any successor publication, published by the Board of Governors of the Federal Reserve System, or any successor entity; or, if such Board of Governors no longer publishes the information contained in such statistical release, a publication containing
similar information published by the U.S. Department of the Treasury, or any successor or other U.S. governmental body. 

(g) If less than all of the Outstanding Bonds of the Sixty-second Series are to be redeemed, the particular Bonds to be
redeemed shall be selected by the Trustee by such method of random selection as the Trustee shall deem fair and appropriate; provided, however, that if, as indicated in an officer’s certificate, the Company shall have offered to purchase all
the bonds of the Sixty-second series then Outstanding and less than all of such Bonds shall have been tendered to the Company for such purchase, the Trustee, if so directed by the Company, shall select for redemption all such Bonds that have not
been so tendered. The portion of any Bond to be redeemed shall be in the principal amount of $1,000 or an integral multiple thereof and such rounding allocations as may be requisite for this purpose shall be made by the Trustee in its uncontrolled
discretion. The Trustee shall promptly notify the Company in writing of the distinctive numbers of the Bonds and the portions thereof so selected for redemption. 

(h) Except as provided in this subsection (II) of Section 1, 

(i) the Bonds of the Sixty-second Series shall not be redeemable prior to the Stated Maturity Date; and 

(ii) no amount other than the principal of and interest on the Bonds of the Sixty-second Series shall be payable in respect of
such Bonds. 
 (III) (a) At the option of the registered owner, any Bonds of the Sixty-second Series, upon surrender
thereof for cancellation at the office or agency of the Company in the Borough of Manhattan, The City of New York, shall be exchangeable for a like aggregate principal amount of Bonds of the same series of other authorized denominations. 

  
 7 

 The Bonds of the Sixty-second Series shall be transferable, upon the surrender thereof for
cancellation, together with a written instrument of transfer in form approved by the registrar duly executed by the registered owner or by his duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of
New York. 
 Upon any exchange or transfer of Bonds of the Sixty-second Series, the Company may make a charge therefor sufficient to
reimburse it for any tax or taxes or other governmental charge, as provided in Section 12 of the Original Mortgage, but the Company hereby waives any right to make a charge in addition thereto or any exchange or transfer of Bonds of the
Sixty-second Series; provided, however, that the Company shall not be required to make any transfer or exchange of any Bonds of the Sixty-second Series for a period of 10 days next preceding any Interest Payment Date or any selection of such Bonds
for redemption, nor shall it be required to make any transfer or exchange of any Bonds of the Sixty-second Series which shall have been selected for redemption in whole or in part. 

(b) The Bonds of the Sixty-second Series are initially to be issued in global form, registered in the name of a securities
depositary (a “Depositary”) or a nominee thereof. Notwithstanding the provisions of subdivision (a) above, such Bonds shall not be transferable, nor shall any purported transfer be registered, except as follows: 

(i) the Bonds of the Sixty-second Series may be transferred in whole, and appropriate registration of transfer effected, to
the Depositary, or by the Depositary to a nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor Depositary or any nominee thereof; 

(ii) the Bonds of the Sixty-second Series may be transferred in whole, and appropriate registration of transfer effected, to
the beneficial holders thereof, and thereafter shall be transferable, if: 
 (A) the Depositary, shall have notified the
Company and the Trustee that (I) it is unwilling or unable to continue to act as securities depositary with respect to such Bonds or (II) it is no longer a clearing agency registered under the Securities Exchange Act of 1934, as amended,
and, in either case, the Trustee shall not have been notified by the Company within one hundred twenty (120) days of the identity of a successor Depositary with respect to such Bonds; or 

(B) the Company shall have delivered to the Trustee a written order to the effect that such Bonds shall be so transferred to
the beneficial owners thereof on and after a date specified therein. 
 The Bonds of the Sixty-second Series shall initially be registered in the name of
Cede & Co., as nominee for The Depository Trust Company (“DTC”). 

  
 8 

 The Bonds of the Sixty-second Series, when in global form, shall bear a legend as to such global form and the
foregoing restrictions on transfer substantially as set forth below: 
 This is a global bond held by a securities depositary or a nominee
thereof for the benefit of the beneficial owners hereof. This bond may not be transferred, nor may any purported transfer be registered, except as provided in the Mortgage referred to below. 

So long as the Bonds of the Sixty-second Series are Outstanding in global form and are registered in the name of Cede & Co, as nominee for DTC, the
Bonds shall also bear a legend substantially as set forth below (or as otherwise required or permitted by DTC from time to time): 
 Unless
this bond certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the issuer or its agent for registration of transfer, exchange or payment, and any new bond certificate
issued is registered in the name of Cede & Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative
of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

(IV) For all purposes of this Sixty-first Supplemental Indenture, except as otherwise expressly provided or unless the context otherwise
requires, the terms listed below, when used with respect to the Bonds of the Sixty-second Series, shall have the meanings specified below: 

“Business Day” means any day, other than a Saturday or Sunday, which is not a day on which banking
institutions or trust companies in The City of New York, New York are generally authorized or required by law, regulation or executive order to remain closed. 

“Interest Payment Date” means June 1 and December 1 in each year, commencing December 1, 2018.

 “Maturity” means the date on which the principal of the Bonds of the Sixty-second Series becomes due and
payable, whether at the Stated Maturity Date, upon redemption or acceleration, or otherwise. 
 “Record
Date”, with respect to any Interest Payment Date, means the May 15 or November 15, as the case may be, next preceding such Interest Payment Date. 

“Stated Maturity Date” means June 1, 2048. 

  
 9 

 (V) Notwithstanding the provisions of Section 106 of the Original Mortgage, as amended, the
Company shall not cause any Bonds of the Sixty-second Series, or any portion of the principal amount thereof, to be deemed to have been paid as provided in such Section and its obligations in respect thereof to be deemed to be satisfied and
discharged prior to the Maturity thereof unless the Company shall deliver to the Trustee either: 
 (a) an instrument wherein
the Company, notwithstanding the effect of Section 106 of the Original Mortgage, as amended, in respect of such Bonds, shall assume the obligation (which shall be absolute and unconditional) to irrevocably deposit with the Trustee such
additional sums of money, if any, or additional government obligations (meeting the requirements of Section 106), if any, or any combination thereof, at such time or times, as shall be necessary, together with the money and/or government
obligations theretofore so deposited, to pay when due the principal of and premium, if any, and interest due and to become due on such Bonds or portions thereof, all in accordance with and subject to the provisions of Section 106; provided,
however, that such instrument may state that the obligation of the Company to make additional deposits as aforesaid shall be subject to the delivery to the Company by the Trustee of a notice asserting the deficiency accompanied by an opinion of an
independent accountant showing the calculation thereof (which opinion shall be obtained at the expense of the Company); or 

(b) an Opinion of Counsel to the effect that the holders of such Bonds, or portions of the principal amount thereof, will not
recognize income, gain or loss for United States federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect thereof and will be subject to United States federal income tax on the same
amounts, at the same times and in the same manner as if such satisfaction and discharge had not been effected. 
 (VI) Anything in this
Sixty-first Supplemental Indenture or the Bonds of the Sixty-second Series to the contrary notwithstanding, any payment of principal of or premium, if any, or interest on any Bond of the Sixty-second Series that is due on a date other than a
Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day. 

(VII) The Bonds of the Sixty-second Series shall have such further terms as are set forth in Exhibit D hereto. If there shall be a conflict
between the terms of the form of bond and the provisions of the Mortgage, the provisions of the Mortgage shall control to the extent permitted by law. 

ARTICLE II 
 Outstanding
Bonds 
 Upon the delivery of this Sixty-first Supplemental Indenture, Bonds of the Sixty-second Series initially in an aggregate
principal amount of $375,000,000 are to be issued and will be Outstanding, in addition to $2,104,700,000 aggregate principal amount of bonds of prior series Outstanding at the date of delivery of this Sixty-first Supplemental Indenture. 

  
 10 

 ARTICLE III 

Prospective Amendments of Original Mortgage 

SECTION 1. Each initial and subsequent holder of Bonds of the Sixty-second Series, by virtue of its acquisition of an interest therein, shall
be deemed, without further act, to have consented to the amendments of the Original Mortgage, as heretofore amended, contemplated in Article III of the Fifty-eighth Supplemental Indenture, dated as of December 1, 2015, and set forth in Exhibit
E(1) thereto, as amended in Section 2 of Article III of the Sixtieth Supplemental Indenture, dated as of December 1, 2017, and in Exhibits E(2) and E(3) thereto. 

ARTICLE IV 

Miscellaneous Provisions 

SECTION 1. The terms defined in the Original Mortgage shall, for all purposes of this Sixty-first Supplemental Indenture, have the meanings
specified in the Original Mortgage. 
 SECTION 2. The Trustee hereby confirms its acceptance of the trusts in the Original Mortgage
declared, provided, created or supplemented and agrees to perform the same upon the terms and conditions in the Original Mortgage set forth, including the following: 

The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Sixty-first
Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made by the Company solely. Each and every term and condition contained in Article XVI of the Original Mortgage shall apply to and form part
of this Sixty-first Supplemental Indenture with the same force and effect as if the same were herein set forth in full, with such omissions, variations and insertions, if any, as may be appropriate to make the same conform to the provisions of this
Sixty-first Supplemental Indenture. 
 SECTION 3. Whenever in this Sixty-first Supplemental Indenture either of the parties hereto is named
or referred to, this shall, subject to the provisions of Articles XV and XVI of the Original Mortgage, be deemed to include the successors and assigns of such party, and all the covenants and agreements in this Sixty-first Supplemental
Indenture contained by or on behalf of the Company, or by or on behalf of the Trustee, or either of them, shall, subject as aforesaid, bind and inure to the respective benefits of the respective successors and assigns of such parties, whether so
expressed or not. 

  
 11 

 SECTION 4. Nothing in this Sixty-first Supplemental Indenture, expressed or implied, is intended,
or shall be construed, to confer upon, or to give to, any person, firm or corporation, other than the parties hereto, the holders of the bonds 

Outstanding under the Mortgage, any right, remedy or claim under or by reason of this Sixty-first Supplemental Indenture or any covenant, condition,
stipulation, promise or agreement hereof, and all the covenants, conditions, stipulations, promises and agreements in this Sixty-first Supplemental Indenture contained by or on behalf of the Company shall be for the sole and exclusive benefit of the
parties hereto, and of the holders of the bonds Outstanding under the Mortgage. 
 SECTION 5. This Sixty-first Supplemental Indenture shall
be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. 

SECTION 6. The titles of the several Articles of this Sixty-first Supplemental Indenture shall not be deemed to be any part thereof. 

 
  

 

  
 12 

 IN WITNESS WHEREOF, on the 22nd day of May, 2018, AVISTA CORPORATION has caused its corporate
name to be hereunto affixed, and this instrument to be signed and sealed by its President or one of its Vice Presidents, and its corporate seal to be attested by its Corporate Secretary or one of its Assistant Corporate Secretaries for and in its
behalf, all in The City of Spokane, Washington, as of the day and year first above written; and on the 22nd day of May, 2018, CITIBANK, N.A., has caused its corporate name to be hereunto affixed, and this instrument to be signed and sealed by its
President or one of its Vice Presidents or one of its Senior Trust Officers or one of its Trust Officers and its corporate seal to be attested by one of its Vice Presidents or one of its Trust Officers, all in The City of New York, New York, as of
the day and year first above written. 
  

			
	AVISTA CORPORATION
		
	By:	 	 /s/ Mark T. Thies

		 	Name: Mark T. Thies
		 	Title: Senior Vice President and
		 	        Chief Financial Officer

  

	
	Attest:
	
	 /s/ Susan Y. Fleming

	Name: Susan Y. Fleming
	Title: Assistant Corporate Secretary
	
	 Executed, sealed and delivered
by AVISTA CORPORATION in the presence of:

	
	
	 /s/ Patrice K. Gorton

	Name: Patrice K. Gorton
	
	 /s/ Lauren C. Pendergraft

	 Name: Lauren C. Pendergraft

	
	
	
	

  
 13 

 
			
	 CITIBANK, N.A., as Trustee

		
	 By
	 	/s/ Louis Piscitelli
		 	 Name: Louis Piscitelli

		 	 Title: Senior Trust Officer

  

	
	Attest:
	
	 /s/ James Polcari

	Name: James Polcari
	Title: Senior Trust Officer
	
	 Executed, sealed and delivered
by CITIBANK, N.A., as trustee, in the presence of:

	
	 /s/ Cirino Emanuele

	Name: Cirino Emanuele
	
	 /s/ John Hannon

	Name: John Hannon

  
 14 

 STATE OF WASHINGTON ) 

                          
                      ) ss.: 
 COUNTY OF
SPOKANE ) 
 On the 22nd day of May, 2018, before me personally appeared Mark T. Thies, to me known to be a Senior Vice President and the
Chief Financial Officer of AVISTA CORPORATION, one of the corporations that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said Corporation for the uses and purposes
therein mentioned and on oath stated that he was authorized to execute said instrument and that the seal affixed is the corporate seal of said Corporation. 

On the 22nd day of May, 2018, before me, a Notary Public in and for the State and County aforesaid, personally appeared Mark T. Thies, known
to me to be a Senior Vice President and the Chief Financial Officer of AVISTA CORPORATION, one of the corporations that executed the within and foregoing instrument and acknowledged to me that such Corporation executed the same. 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year first above written. 

 

	
	 /s/ Debbie Deubel

	Notary Public
	
	DEBBIE DEUBEL
	Notary Public
	State of Washington
	Commission Expires May 9, 2021

  
 15 

 STATE OF NEW YORK) 

                          
                  ) ss.: 
 COUNTY OF NEW YORK) 

On the 22nd day of May, 2018 before me personally appeared Louis Piscitelli, to me known to be a Senior Trust Officer of CITIBANK, N.A., one
of the corporations that executed the within and foregoing instrument, and acknowledged said instrument to be the free and voluntary act and deed of said Corporation for the uses and purposes therein mentioned and on oath stated that she was
authorized to execute said instrument and that the seal affixed is the corporate seal of said Corporation. 
 On the 22nd day of May, 2018,
before me, a Notary Public in and for the State and County aforesaid, personally appeared Louis Piscitelli, known to me to be a Senior Trust Officer of CITIBANK, N.A., one of the corporations that executed the within and foregoing instrument and
acknowledged to me that such Corporation executed the same. 
 IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal
the day and year first above written. 
  

	
	 /s/ Danny Lee

	Notary Public
	State of New York

  
 16 

 EXHIBIT A 

MORTGAGE, SUPPLEMENTAL INDENTURES 

AND SERIES OF BONDS 
  

													
	 MORTGAGE OR

SUPPLEMENTAL

INDENTURE
	  	 DATED AS OF
	  	 SERIES
	  	 PRINCIPAL
AMOUNT
ISSUED
	  	PRINCIPAL
AMOUNT
OUTSTANDING	 
	  	  	 NO.
	  	 DESIGNATION
	  	  
	Original	  	June 1, 1939	  	1	  	3-1/2% Series due 1964	  	$22,000,000	  	 	None	 
						
	First	  	October 1, 1952	  	2	  	3-1/2% Series due 1982 (changed to 3-3/4% in Twelfth Supplemental Indenture)	  	30,000,000	  	 	None	 
						
	Second	  	May 1, 1953	  	3	  	3-7/8% Series due 1983	  	10,000,000	  	 	None	 
						
	Third	  	December 1, 1955	  		  	None	  		  			
						
	Fourth	  	March 15, 1957	  		  	None	  		  			
						
	Fifth	  	July 1, 1957	  	4	  	4-7/8% Series due 1987	  	30,000,000	  	 	None	 
						
	Sixth	  	January 1, 1958	  	5	  	4-1/8% Series due 1988	  	20,000,000	  	 	None	 
						
	Seventh	  	August 1, 1958	  	6	  	4-3/8% Series due 1988	  	15,000,000	  	 	None	 
						
	Eighth	  	January 1, 1959	  	7	  	4-3/4% Series due 1989	  	15,000,000	  	 	None	 
						
	Ninth	  	January 1, 1960	  	8	  	5-3/8% Series due 1990	  	10,000,000	  	 	None	 
						
	Tenth	  	April 1, 1964	  	9	  	4-5/8% Series due 1994	  	30,000,000	  	 	None	 
						
	Eleventh	  	March 1 ,1965	  	10	  	4-5/8% Series due 1995	  	10,000,000	  	 	None	 
						
	Twelfth	  	May 1, 1966	  		  	None	  		  			
						
	Thirteenth	  	August 1, 1966	  	11	  	6% Series due 1996	  	20,000,000	  	 	None	 
						
	Fourteenth	  	April 1, 1970	  	12	  	9-1/4% Series due 2000	  	20,000,000	  	 	None	 
						
	Fifteenth	  	May 1, 1973	  	13	  	7-7/8% Series due 2003	  	20,000,000	  	 	None	 
						
	Sixteenth	  	February 1, 1975	  	14	  	9-3/8% Series due 2005	  	25,000,000	  	 	None	 
						
	Seventeenth	  	November 1, 1976	  	15	  	8-3/4% Series due 2006	  	30,000,000	  	 	None	 

  
 A-1 

													
	 MORTGAGE OR

SUPPLEMENTAL

INDENTURE
	  	 DATED AS OF
	  	 SERIES
	  	 PRINCIPAL
AMOUNT
ISSUED
	  	PRINCIPAL
AMOUNT
OUTSTANDING	 
	  	  	 NO.
	  	 DESIGNATION
	  	  
						
	Eighteenth	  	June 1, 1980	  		  	None	  		  			
						
	Nineteenth	  	January 1, 1981	  	16	  	14-1/8% Series due 1991	  	40,000,000	  	 	None	 
						
	Twentieth	  	August 1, 1982	  	17	  	15-3/4% Series due 1990-1992	  	60,000,000	  	 	None	 
						
	Twenty-First	  	September 1, 1983	  	18	  	13-1/2% Series due 2013	  	60,000,000	  	 	None	 
						
	Twenty-Second	  	March 1, 1984	  	19	  	13-1/4% Series due 1994	  	60,000,000	  	 	None	 
						
	Twenty-Third	  	December 1, 1986	  	20	  	9-1/4% Series due 2016	  	80,000,000	  	 	None	 
						
	Twenty-Fourth	  	January 1, 1988	  	21	  	10-3/8% Series due 2018	  	50,000,000	  	 	None	 
						
	Twenty-Fifth	  	October 1, 1989	  	 22
  

23
	  	 7-1/8% Series due 2013

 
 7-2/5% Series due
2016
	  	 66,700,000
  

17,000,000
	  	   
 
	 None 
 None
	   
  

						
	Twenty-Sixth	  	April 1, 1993	  	24	  	Secured Medium-Term Notes, Series A ($250,000,000 authorized)	  	250,000,000	  	 	29,000,000	 
						
	Twenty-Seventh	  	January 1, 1994	  	25	  	Secured Medium-Term Notes, Series B ($250,000,000 authorized)	  	161,000,000	  	 	None	 
						
	Twenty-Eighth	  	September 1, 2001	  	26	  	Collateral Series due 2002	  	220,000,000	  	 	None	 
						
	Twenty-Ninth	  	December 1, 2001	  	27	  	7.75% Series due 2007	  	150,000,000	  	 	None	 
						
	Thirtieth	  	May 1, 2002	  	28	  	Collateral Series due 2003	  	225,000,000	  	 	None	 
						
	Thirty-first	  	May 1, 2003	  	29	  	Collateral Series due 2004	  	245,000,000	  	 	None	 
						
	Thirty-second	  	September 1, 2003	  	30	  	6.125% Series due 2013	  	45,000,000	  	 	None	 
						
	Thirty-third	  	May 1, 2004	  	31	  	Collateral Series due 2005	  	350,000,000	  	 	None	 
						
	Thirty-fourth	  	November 1, 2004	  	32	  	5.45% Series due 2019	  	90,000,000	  	 	90,000,000	 
						
	Thirty-fifth	  	December 1, 2004	  	33	  	Collateral Series 2004A	  	88,850,000	  	 	25,000,000	 
						
	Thirty-sixth	  	December 1, 2004	  	 34
  

35
	  	 Collateral Series 2004B
  

Collateral Series 2004C
	  	 66,700,000
  

17,000,000
	  	   
 
	 None 
 None
	   
  

						
	Thirty-seventh	  	December 1, 2004	  	36	  	Collateral Series 2004D	  	350,000,000	  	 	None	 

  
 A-2 

													
	 MORTGAGE OR

SUPPLEMENTAL

INDENTURE
	  	 DATED AS OF
	  	 SERIES
	  	 PRINCIPAL
AMOUNT
ISSUED
	  	PRINCIPAL
AMOUNT
OUTSTANDING	 
	  	  	 NO.
	  	 DESIGNATION
	  	  
						
	Thirty-eighth	  	May 1, 2005	  	 37
  

38
	  	 Collateral Series 2005B
  

Collateral Series 2005C
	  	 66,700,000
  

17,000,000
	  	   
 
	 None 
 None
	   
  

						
	Thirty-ninth	  	November 1, 2005	  	39	  	6.25% Series due 2035	  	 100,000,000
  

50,000,000
	  	   
 
	 100,000,000 

50,000,000
	   
  

						
	Fortieth	  	April 1, 2006	  	40	  	Collateral Series due 2011	  	320,000,000	  	 	None	 
						
	Forty-first	  	December 1, 2006	  	41	  	5.70% Series due 2037	  	150,000,000	  	 	150,000,000	 
						
	Forty-second	  	April 1, 2008	  	42	  	5.95% Series due 2018	  	250,000,000	  	 	250,000,000	 
						
	Forty-third	  	November 1, 2008	  	43	  	Collateral Series 2008A	  	200,000,000	  	 	None	 
						
	Forty-fourth	  	December 1, 2008	  	44	  	7.25% Series due 2013	  	30,000,000	  	 	None	 
						
	Forty-fifth	  	December 1, 2008	  	45	  	Collateral Series 2008B	  	17,000,000	  	 	None	 
						
	Forty-sixth	  	September 1, 2009	  	46	  	5.125% Series due 2022	  	250,000,000	  	 	250,000,000	 
						
	Forty-seventh	  	November 1, 2009	  	47	  	Collateral Series 2009A	  	75,000,000	  	 	None	 
						
	Forty-eighth	  	December 1, 2010	  	 48
  

49
	  	 Collateral Series 2010A
  

Collateral Series 2010B
	  	 66,700,000
  

17,000,000
	  	   
 
	 66,700,000 
 17,000,000
	   
  

						
	Forty-ninth	  	December 1, 2010	  	 50
  

51
	  	 3.89% Series due 2020
  

5.55% Series due 2040
	  	 52,000,000
  

35,000,000
	  	   
 
	 52,000,000 
 35,000,000
	   
  

						
	Fiftieth	  	December 1, 2010	  	52	  	1.68% Series due 2013	  	50,000,000	  	 	None	 
						
	Fifty-first	  	February 1, 2011	  	53	  	Collateral Series 2011A	  	400,000,000	  	 	None	 
						
	Fifty-second	  	August 1, 2011	  		  	None	  		  			
						
	Fifty-third	  	December 1, 2011	  	54	  	4.45% Series due 2041	  	85,000,000	  	 	85,000,000	 
						
	Fifty-fourth	  	November 1, 2012	  	55	  	4.23% Series due 2047	  	80,000,000	  	 	80,000,000	 
						
	Fifty-fifth	  	August 1, 2013	  	56	  	Collateral Series 2013A	  	90,000,000	  	 	None	 
						
	Fifty-sixth	  	April 1, 2014	  	57	  	Collateral Series 2014A	  	400,000,000	  	 	400,000,000	 

  
 A-3 

													
	 MORTGAGE OR

SUPPLEMENTAL

INDENTURE
	  	 DATED AS OF
	  	 SERIES
	  	 PRINCIPAL
AMOUNT
ISSUED
	  	PRINCIPAL
AMOUNT
OUTSTANDING	 
	  	  	 NO.
	  	 DESIGNATION
	  	  
						
	Fifty-seventh	  	December 1, 2014	  	58	  	4.11% Series due 2044	  	$60,000,000	  	$	60,000,000	 
						
	Fifty-eighth	  	December 1, 2015	  	59	  	4.37% Series due 2045	  	$100,000,000	  	$	100,000,000	 
						
	Fifty-ninth	  	December 1, 2016	  	60	  	3.54% Series due 2051	  	$175,000,000	  	$	175,000,000	 
						
	Sixtieth	  	December 1, 2017	  	61	  	3.91% Series due 2047	  	$90,000,000	  	$	90,000,000	 
		
	 TOTAL OUTSTANDING
	  	$	2,104,700,000	 
		  	  
	  
	 

  
 A-4 

 EXHIBIT B 

FILING AND RECORDING OF 

SIXTIETH SUPPLEMENTAL INDENTURE 
  

																									
	 FILING IN STATE OFFICES
	 
				
	 State
	  	Office of	 	  	Date	 	  	Financing Statement
Document Number	 
	 Washington
	  	 	Secretary of State	 	  	 	2/13/18	 	  	 	208-044-9116-6	 
				
	 Idaho
	  	 	Secretary of State	 	  	 	1/26/18	 	  	 	2018-1207353-8	 
				
	 Montana
	  	 	Secretary of State	 	  	 	2/13/18	 	  	 	1802132007266	 
				
	 Oregon
	  	 	Secretary of State	 	  	 	2/13/2018	 	  	 	91458332	 
	
	 RECORDING IN COUNTY OFFICES
	 
				
	 	  	 	 	  	Real Estate Mortgage Records	 	  	Financing	 
	 	  	 	 	  	 	 	  	 	 	  	 	 	  	 	 	  	Statement	 
	 	  	 	 	  	 	 	  	Document	 	  	 	 	  	 	 	  	Document	 
	 County
	  	Office of	 	  	Date	 	  	Number	 	  	Book	 	  	Page	 	  	Number	 
	 Washington
	  				  				  				  				  				  			
							
	 Adams
	  	 	Auditor	 	  	 	1/30/18	 	  	 	317855	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Asotin
	  	 	Auditor	 	  	 	1/29/18	 	  	 	356560	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Benton
	  	 	Auditor	 	  	 	1/30/18	 	  	 	2018-002709	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Douglas
	  	 	Auditor	 	  	 	1/29/18	 	  	 	3209920	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Ferry
	  	 	Auditor	 	  	 	1/29/18	 	  	 	0289911	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Franklin
	  	 	Auditor	 	  	 	1/31/18	 	  	 	1873974	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Garfield
	  	 	Auditor	 	  	 	1/29/18	 	  	 	20180045	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Grant
	  	 	Auditor	 	  	 	1/29/18	 	  	 	1389316	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Klickitat
	  	 	Auditor	 	  	 	1/29/18	 	  	 	1127478	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Lewis
	  	 	Auditor	 	  	 	2/8/18	 	  	 	3479228	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Lincoln
	  	 	Auditor	 	  	 	1/29/18	 	  	 	2018 0477332	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Pend Oreille
	  	 	Auditor	 	  	 	1/29/18	 	  	 	20180330750	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Skamania
	  	 	Auditor	 	  	 	2/12/18	 	  	 	2018000280	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Spokane
	  	 	Auditor	 	  	 	2/2/18	 	  	 	6679421	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Stevens
	  	 	Auditor	 	  	 	1/30/18	 	  	 	2018 0000627	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Thurston
	  	 	Auditor	 	  	 	2/12/18	 	  	 	4610953	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Whitman
	  	 	Auditor	 	  	 	1/31/18	 	  	 	745483	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Idaho
	  				  				  				  				  				  			
	 Benewah
	  	 	Recorder	 	  	 	1/26/18	 	  	 	279459	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Bonner
	  	 	Recorder	 	  	 	1/25/18	 	  	 	917244	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Boundary
	  	 	Recorder	 	  	 	1/25/18	 	  	 	272993	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Clearwater
	  	 	Recorder	 	  	 	1/25/18	 	  	 	232585	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Idaho
	  	 	Recorder	 	  	 	1/25/18	 	  	 	512461	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Kootenai
	  	 	Recorder	 	  	 	1/24/18	 	  	 	262906800	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 
							
	 Latah
	  	 	Recorder	 	  	 	1/25/18	 	  	 	590312	 	  	 	N/A	 	  	 	N/A	 	  	 	N/A	 

  
 B-1 

													
	 RECORDING IN COUNTY OFFICES

				
	 	  	 	  	Real Estate Mortgage Records	  	Financing
	 	  	 	  	 	  	 	  	 	  	 	  	Statement
	 	  	 	  	 	  	Document	  	 	  	 	  	Document
	 County
	  	Office of	  	Date	  	Number	  	Book	  	Page	  	Number
	 Idaho (cont.)
	  		  		  		  		  		  	
	 Lewis
	  	Recorder	  	1/25/18	  	146156	  	N/A	  	N/A	  	N/A
							
	 Nez Perce
	  	Recorder	  	1/26/18	  	855095	  	N/A	  	N/A	  	N/A
							
	 Shoshone
	  	Recorder	  	1/25/18	  	492434	  	N/A	  	N/A	  	N/A
							
	 Montana
	  		  		  		  		  		  	
	 Big Horn
	  	Clerk & Recorder	  	2/5/18	  	355056	  	149	  	145-181	  	N/A
							
	 Broadwater
	  	Clerk & Recorder	  	2/6/18	  	179488	  	185	  	703	  	N/A
							
	 Golden Valley
	  	Clerk & Recorder	  	2/5/18	  	83130	  	M	  	19167	  	N/A
							
	 Meagher
	  	Clerk & Recorder	  	2/6/18	  	144512	  	N/A	  	N/A	  	N/A
							
	 Mineral
	  	Clerk & Recorder	  	2/5/18	  	0117518	  	N/A	  	N/A	  	N/A
							
	 Rosebud
	  	Clerk & Recorder	  	2/6/18	  	0118132	  	154MG	  	114-150	  	N/A
							
	 Sanders
	  	Clerk & Recorder	  	2/5/18	  	308835	  	1	  	89838	  	N/A
							
	 Stillwater
	  	Clerk & Recorder	  	2/5/18	  	371387	  	N/A	  	N/A	  	N/A
							
	 Treasure
	  	Clerk & Recorder	  	2/6/18	  	83766	  	22	  	798	  	N/A
							
	 Wheatland
	  	Clerk & Recorder	  	2/5/18	  	110214	  	M	  	28720-28756	  	N/A
							
	 Yellowstone
	  	Clerk & Recorder	  	2/8/18	  	3840824	  	N/A	  	N/A	  	N/A
							
	 Oregon
	  		  		  		  		  		  	
	 Douglas
	  	Recorder	  	2/12/18	  	2018-003212	  	N/A	  	N/A	  	N/A
							
	 Jackson
	  	Recorder	  	2/7/18	  	2018-004339	  	N/A	  	N/A	  	N/A
							
	 Josephine
	  	Recorder	  	2/5/18	  	2018-001577	  	N/A	  	N/A	  	N/A
							
	 Klamath
	  	Recorder	  	2/6/18	  	2018-001480	  	N/A	  	N/A	  	N/A
							
	 Morrow
	  	Recorder	  	2/6/18	  	2018-41739	  	N/A	  	N/A	  	N/A
							
	 Union
	  	Recorder	  	2/5/18	  	20180351	  	N/A	  	N/A	  	N/A
							
	 Wallowa
	  	Recorder	  	2/5/18	  	00077843	  	N/A	  	N/A	  	N/A

  
 B-2 

 EXHIBIT C 

PROPERTY ADDITIONS 

THE ADDITIONAL ELECTRIC SUBSTATIONS AND SUBSTATION SITES of the Company, in the State of Washington and the State of Idaho, including
all buildings, structures, towers, poles, equipment, appliances and devices for transforming, converting and distributing electric energy, and the lands of the Company on which the same are situated and all of the Company’s real estate and
interests therein, machinery, equipment, appliances, devices, appurtenances and supplies, franchises, permits and other rights and other property forming a part of said substations or any of them, or used or enjoyed or capable of being used or
enjoyed in connection with any thereof, including, but not limited to, the following situated in the State of Washington and the State of Idaho, to wit: 
  

	 	(1)	 Adams County, Washington: “Saddle Mountain”, granted by: Flying K Ranch, LLC; A parcel of land located
in the Northwest Quarter of Section 7 of Township 15 North in Range 28 East, W.M.; Adams County, Washington, described more particularly as follows: Commencing at the Northwest corner of the Northwest Quarter of said Section 7; thence S
00°30’45” E along the West line of the Northwest Quarter of Section 7 a distance of 30.00 feet to a point on the South right of way line of Gillis County Road; thence N 89°18’38” E along said South right of way line
a distance of 49.61’ to the Easterly right of way line of the Bureau of Reclamation Canal, as shown on sheet 34 of the fifth revision of the Farm Unit Plat of Block 49 of the Columbia Basin Project, and the True Point of Beginning; thence N
89°18’38” E along said road right of way line a distance of 1068.05’ to the intersection of said right of way line with the West boundary of Farm Unit 223 of aforementioned Block 49; thence N 89°18’38” E along said
road right of way line a distance of 709.16’; thence S 00°41’22” E a distance of 143.81’; thence S 44°57’29” W a distance of 415.01’;thence S 02°06’07” E a distance of 422.74’; thence S
28°48’49” W a distance of 133.35’ to a point on the Northeast right of way line of the Canal; thence S 28°48’49” W a distance of 37.74’; thence N 45°40’09” W a distance of 91.91’; thence N
50°01’26” W a distance of 120.18’; thence N 51°23’40” W a distance of 135.63’; thence N 49°40’17” W a distance of 188.25’; thence N 50°42’25” W a distance of 128.05’; thence
N 49°55’23” W a distance of 55.31’; thence N 48°16’42” W a distance of 127.26’; thence with a curve turning to the left with an arc length of 85.16’, with a radius of 200.02’, a chord bearing of N
60°21’47” W, with a chord length 84.51’; thence N 72°33’34” W a distance of 107.68’; thence N 71°11’29” W a distance of 165.41’; thence N 70°35’38” W a distance of 139.53’;
thence N 71°15’39” W a distance of 84.30’; thence N 74°56’29” W a distance of 78.41’; thence N 79°54’18” W a distance of 73.52’; thence with a curve turning to the right with an arc length of
84.34’, with a radius of 69.16’, 

  
 C-1 

	 	
with a chord bearing of N 52°41’31” W, with a chord length of 79.21’; thence N 00°30’45” W a distance of 140.66’ to the south right of way line of Gillis
County Road; which is the true point of beginning. (ALSO Known as Amended Parcel 1 of Record Survey recorded December 4, 2017 under Auditor’s File No. 317358.) Evidenced by Statutory Warranty Deed recorded as Auditor number 317505 on
December 18, 2017. 

  

	 	(2)	Stevens County, Washington: “Ford-Dawn Mining”, granted by Carolyn Y. Caldwell; A part of Government Lot 5 in Section 19, Township 28 North, Range 40 East, W.M., in Stevens County, Washington, further
described as follows: Commencing at the Southwest corner of said Government Lot 5, also being the Southwest Section corner of said Section 19; thence along the West line of said Government Lot 5, North 0°10’00” East a distance of
40.00 feet to the True Point of Beginning for this description; thence, continuing along said West line, North 0°10’00” East a distance of 40.00 feet to the Northerly boundary of a tract of land described in Statutory Warranty Deed
recorded under Auditor’s File No. 9209726; thence, along said Northerly boundary, North 73°05’04” East a distance of 659.08 feet; thence, leaving said Northerly boundary, South 00°10’00” West a distance of
225.90 feet North of the South line of said Government Lot 5, thence, parallel with the South line of said Government Lot 5, South 89°28’00” West a distance of 630.04 feet to the Point of Beginning. Evidenced by Statutory Warranty Deed
recorded as Auditor number 2017-0008854 on December 06, 2017. 

  

	 	(3)	Stevens County, Washington: “Ford-Dawn Mining”, granted by Dawn Mining Company, LLC; A portion of Government Lot 5, Section 19, Township 28 North, Range 40 East, W.M., Stevens County, Washington State,
further described as follows: Commencing at the Southwest corner of said Government Lot 5, also being the Southwest Section Corner of said Section 19; thence N 0°10’00” E, along the West line of said Government Lot 5, a distance
of 80.00’ to the northerly boundary of a tract of land described in a Statutory Warranty Deed recorded as Auditor’s File No. 9209726, Records of Stevens County; thence along said northerly boundary N 73°05’04” E, a
distance of 313.85’ to the Point of Beginning for this description; thence continuing N 73°05’04” E, a distance of 345.23’; thence leaving said northerly boundary N 00°,10’00” E, a distance of 474.97’;
thence S 89°28’00” W, a distance of 330.02’; thence S 00°10’00” W, a distance of 330.02’; thence S 00°10’00” W, a distance of 572.35’ to the Point of Beginning. Evidenced by Statutory Warranty
Deed recorded as Auditor number 2017-0008543 recorded on November 28, 2017. 

  

	 	(4)	 Bonner County, Idaho: “Bronx Substation”, granted by Bernadine C. King, Trustee of the Hinsvark Family
Trust; A Tract of Land in the Southwest Quarter of the Southwest Quarter (SW1/4/SW1/4) of Section 36, Township 58 North, Range 2 West, Boise Meridian, Bonner County, Idaho, more specifically described as follows: Commencing at the Southeast
corner of said Southwest Quarter of the Southwest Quarter, which point is the West 1/16th corner of said Section 36 only; Thence south 89°46’52” West along the

  
 C-2 

	 	
South line of said Southwest Quarter of the Southwest Quarter a distance of 135.00 feet to the True Point of Beginning; Thence leaving said South line North 00°19’38” East a
distance of 900.11 feet; Thence North 89°07” West a distance of 1046.80 feet to a point on the Easterly right of way line of the existing Highway US #95; Thence along the Easterly right of way line following the Seven (7) courses: 1)
South 02°34’35” West a distance of 33.68 feet; 2) South 04°27’18” East a distance of 238.21 feet; 3) South 09°39’30” East a distance of 190.78 feet; 4) South 17°10’06” East a distance of 190.73
feet; 5) South 21°57’56” East a distance of 237.36 feet; 6) South 89°54’58” East a distance of 128.17 feet; 7) South 00°06’56” West a distance of 44.87 feet to said South line of the Southwest Quarter of the
Southwest Quarter; Thence South 89°55’05” East a distance of 25.94 feet to the closing corner common to Sections 3 and 2, Township 57 North, Range 2 West; Thence continuing along said South Line North 89°46’52” East a
distance of 693.55 feet to the True Point of Beginning. EXCEPT the Count Road along the South line of the herein premises known as the Bronx Road. Evidenced by Special Warranty Deed recorded as Auditor number 921417 recorded on May 10, 2018.

  
 C-3 

 EXHIBIT D 

(Form of Bond) 
 CUSIP: 05379B AQ0 

AVISTA CORPORATION 
 First
Mortgage Bond, 4.35% Series due 2048 
  

			
	REGISTERED	  	REGISTERED
		
	NO.                                     
           	  	$                        

 AVISTA CORPORATION, a corporation of the State of Washington (hereinafter called the Company), for
value received, hereby promises to pay to 
 , or registered assigns, on June 1, 2048 (the “Stated Maturity Date”) 

DOLLARS 
 and to pay the registered owner hereof
interest thereon semi-annually in arrears on June 1 and December 1 in each year (each such date, an “Interest Payment Date”), commencing December 1, 2018, and at Maturity (as hereinafter defined), at the rate of four and
thirty-five one-hundredths percentum (4.35%) per annum computed on the basis of a 360-day year consisting of twelve 30-day
months, until the Company’s obligation with respect to the payment of such principal shall have been discharged. This bond shall bear interest from May 22, 2018 or from the most recent Interest Payment Date on or prior to the date of this
bond to which interest on the bonds of this series has been paid. 
  

							
	Dated:	 	AVISTA CORPORATION
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
	ATTEST:	 	  
	 		 	
		 	Name:	 		 	
		 	Title:	 		 	

 TRUSTEE’S CERTIFICATE 

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

 

			
		 	CITIBANK, N.A.
		 	        Trustee
		
	By	 	  

		 	Authorized Signatory

  
 D-1 

 The principal of and premium, if any, and interest on this bond payable at Maturity shall be
payable to the registered owner hereof upon presentation hereof at the office or agency of the Company in the Borough of Manhattan, The City of New York, in such coin or currency of the United States of America as at the time of payment is legal
tender for public and private debts. The interest on this bond (other than interest payable at Maturity) shall be paid by check, in the similar coin or currency, mailed to the registered owner hereof as of the close of business on the May 15 or
November 15, as the case may be, next preceding each Interest Payment Date (each such date being herein called a “Record Date”); provided, however, that if such registered owner shall be a securities depositary, such payment shall be
made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such registered owner. Interest payable at Maturity shall be paid to the person to whom principal shall be paid. As used herein, the term
“Maturity” shall mean the date on which the principal of this bond becomes due and payable, whether at stated maturity, upon redemption or acceleration, or otherwise. 

This bond is one of an issue of bonds of the Company issuable in series and is one of a series known as its First Mortgage Bonds, 4.35% Series
due 2048, all bonds of all such series being issued and issuable under and equally secured (except insofar as any sinking or other fund, established in accordance with the provisions of the Mortgage hereinafter mentioned, may afford additional
security for the bonds of any particular series) by a Mortgage and Deed of Trust, dated as of June 1, 1939 (the “Original Mortgage”), executed by the Company (formerly known as The Washington Water Power Company) to City Bank Farmers
Trust Company and Ralph E. Morton, as Trustees (Citibank, N.A., successor Trustee to both said Trustees). The Original Mortgage has been amended and supplemented by various supplemental indentures, including the Sixty-first Supplemental Indenture,
dated as of May 1, 2018 (the “Sixty-first Supplemental Indenture”), and, as so amended and supplemented, is herein called the “Mortgage”. Reference is made to the Mortgage for a description of the property mortgaged and
pledged, the nature and extent of the security, the rights of the holders of the bonds and of the Trustee in respect thereof, the duties and immunities of the Trustee and the terms and conditions upon which the bonds are and are to be secured and
the circumstances under which additional bonds may be issued. If there shall be a conflict between the terms of this bond and the provisions of the Mortgage, the provisions of the Mortgage shall control to the extent permitted by law. The holder of
this bond, by its acceptance hereof, shall be deemed to have consented and agreed to all of the terms and provisions of the Mortgage and, further, in the event that such holder shall not be the sole beneficial owner of this bond, shall be deemed to
have agreed to use all commercially reasonable efforts to cause all direct and indirect beneficial owners of this bond to have knowledge of the terms and provisions of the Mortgage and of this bond and to comply therewith, including particularly,
but without limitation, any provisions or restrictions in the Mortgage regarding the transfer or exchange of such beneficial interests and any legend set forth on this bond. 

The Mortgage may be modified or altered by affirmative vote of the holders of at least 60% in principal amount of the bonds outstanding under
the Mortgage, considered as one class, or, if the rights of one or more, but less than all, series of bonds then outstanding are to be affected, then such modification or alteration may be effected with the affirmative vote only of 60% in principal
amount of the bonds outstanding of the series so to be affected, considered as one class, and, furthermore, for limited purposes, the 

  
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 Mortgage may be modified or altered without any consent or other action of holders of any series of bonds. No
modification or alteration shall, however, permit an extension of the Maturity of the principal of, or interest on, this bond or a reduction in such principal or the rate of interest hereon or any other modification in the terms of payment of such
principal or interest or the creation of any lien equal or prior to the lien of the Mortgage or deprive the holder of a lien on the mortgaged and pledged property without the consent of the holder hereof. Each initial and subsequent holder of bonds
of this series, by virtue of its acquisition of an interest therein, shall be deemed, without further act, to have consented to the prospective amendments to the Original Mortgage set forth in the Sixtieth Supplemental Indenture. 

The principal hereof may be declared or may become due prior to the Stated Maturity Date on the conditions, in the manner and at the time set
forth in the Mortgage, upon the occurrence of a Completed Default as in the Mortgage provided. 
 As provided in the Mortgage and subject to
certain limitations therein set forth, this bond or any portion of the principal amount hereof will be deemed to have been paid if there has been irrevocably deposited with the Trustee moneys or direct obligations of or obligations guaranteed by the
United States of America, the principal of and interest on which when due, and without regard to any reinvestment thereof, will provide moneys which, together with moneys so deposited, will be sufficient to pay when due the principal of and premium,
if any, and interest on this bond when due. 
 The Mortgage contains terms, provisions and conditions relating to the consolidation or
merger of the Company with or into, and the conveyance or other transfer, or lease, of assets to, another corporation and to the assumption by such other corporation, in certain circumstances, of all of the obligations of the Company under the
Mortgage and on the bonds secured thereby. 
 In the manner prescribed in the Mortgage, this bond is transferable by the registered owner
hereof in person, or by his duly authorized attorney, at the office or agency of the Company in the Borough of Manhattan, The City of New York, upon surrender and cancellation of this bond, together with a written instrument of transfer whenever
required by the Company duly executed by the registered owner or by its duly authorized attorney, and, thereupon, a new fully registered bond of the same series for a like principal amount will be issued to the transferee in exchange herefor as
provided in the Mortgage. The Company and the Trustee may deem and treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment and for all other purposes. 

In the manner prescribed in the Mortgage, any bonds of this series, upon surrender thereof for cancellation at the office or agency of the
Company in the Borough of Manhattan, The City of New York, are exchangeable for a like aggregate principal amount of bonds of the same series of other authorized denominations. 

Prior to the Par Call Date (as hereinafter defined), the bonds of this series shall be redeemable, in whole at any time or in part from time
to time, at the option of the Company, upon notice mailed as provided in Section 52 of the Mortgage, at a redemption price equal to the greater of 

  
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 (a) 100% of the principal amount of the bonds being redeemed, and 

(b) the sum of the present values of the remaining scheduled payments of principal of and interest on the bonds being redeemed
(assuming, for this purpose, that the bonds of this series were stated to mature on the Par Call Date and excluding any portion of any scheduled payment of interest that accrued prior to the redemption date), discounted to the date of redemption on
a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at a discount rate equal to the Treasury Yield (as hereinafter defined) plus 20 basis
points, 
 plus, in the case of either (a) or (b) above, whichever is applicable, accrued and unpaid interest on such bonds to
the date of redemption. 
 On or after the Par Call Date, the bonds of this series shall be redeemable in whole at any time, or in part from
time to time, at the option of the Company, upon notice mailed as aforesaid, at a redemption price equal to 100% of the principal amount of the bonds being redeemed plus accrued and unpaid interest on such bonds to the date of redemption.

 “Par Call Date” means December 1, 2047. 

“Treasury Yield” means, with respect to any redemption of bonds of this series, 

(a) the yield to maturity reported in the Statistical Release, for the latest day for which such yields have been so reported
as of the Calculation Date, for the U.S. Treasury constant maturity with a term equal to the remaining term of such bonds (assuming, for this purpose, that the bonds of this series were stated to mature on the Par Call Date), or 

(b) if there is no such U.S. Treasury constant maturity having a term equal to such remaining term, the yield to maturity
determined by linear interpolation between (i) the U.S. Treasury constant maturity reported in the Statistical Release with the term next longer than such remaining term and (ii) the U.S. Treasury constant maturity reported in the
Statistical Release with the term next shorter than such remaining term. 
 The Treasury Yield shall be rounded to two decimal places. The
Treasury Yield shall be calculated as of the third business day preceding the earlier of (x) the date notice of redemption is mailed to holders of bonds of this series and (y) the date irrevocable arrangements with the Trustee for the
mailing of such notice shall have been made, as the case may be (the “Calculation Date”). 

  
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 “Statistical Release” means the daily statistical release entitled “H.15 Selected
Interest Rates”, or any successor publication, published by the Board of Governors of the Federal Reserve System, or any successor entity; or, if such Board of Governors no longer publishes the information contained in such statistical release,
a publication containing similar information published by the U.S. Department of the Treasury, or any successor or other U.S. governmental body. 

Except as provided above, (a) the bonds of this series are not redeemable prior to the Stated Maturity Date and (b) no amount other
than the principal of and interest on the bonds of this series shall be payable in respect of such bonds. 
 No recourse shall be had for
the payment of the principal of or premium, if any, or interest on this bond against any incorporator or any past, present or future subscriber to the capital stock, stockholder, officer or director of the Company or of any predecessor or successor
corporation, as such, either directly or through the Company or any predecessor or successor corporation, under any rule of law, statute or constitution or by the enforcement of any assessment or otherwise, all such liability of incorporators,
subscribers, stockholders, officers and directors being released by the holder or owner hereof by the acceptance of this bond and being likewise waived and released by the terms of the Mortgage. 

This bond shall not become obligatory until Citibank, N.A., the Trustee under the Mortgage, or its successor thereunder, shall have signed the
form of certificate endorsed hereon. 
  
  

 

  
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 ASSIGNMENT FORM 

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto 

 
  

[please insert social security or other identifying number of assignee] 

 
  

[please print or typewrite name and address of assignee] 

the within bond of AVISTA CORPORATION and does hereby irrevocably constitute and appoint
                                         
                   , Attorney, to transfer said bond on the books of the within-mentioned Company, with full power of substitution in the premises.

 Dated:
                         
  

                          
                       

[signature of assignor] 
 Notice: The signature
to this assignment must correspond with the name as written upon the face of the bond in every particular without alternation or enlargement or any change whatsoever. 

  
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