Document:

EX-10.3

 Exhibit 10.3 

PARATEK PHARMACEUTICALS, INC. 

2015 INDUCEMENT PLAN 

STOCK OPTION GRANT NOTICE 

Paratek Pharmaceuticals, Inc. (the “Company”), pursuant to its 2015 Inducement Plan (the “Plan”), hereby
grants to Optionholder an option to purchase the number of shares of the Company’s Common Stock set forth below. This option is subject to all of the terms and conditions as set forth in this notice, in the Option Agreement, the Plan and the
Notice of Exercise, all of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined herein but defined in the Plan or the Option Agreement will have the same definitions as in the Plan or the
Option Agreement. If there is any conflict between the terms in this notice and the Plan, the terms of the Plan will control. 
  

					
	Optionholder:	  	  
	  	
	Date of Grant:	  	  
	  	
	Vesting Commencement Date:	  	  
	  	
	Number of Shares Subject to Option:	  	  
	  	
	Exercise Price (Per Share):	  	  
	  	
	Total Exercise Price:	  	  
	  	
	Expiration Date:	  	  
	  	
	Type of Grant:	  	 Nonstatutory Stock Option
	  	
		  	  
	  	

  

			
	Exercise Schedule:	  	Same as Vesting Schedule
		
	Vesting Schedule:	  	[                    ]
		
	Payment:	  	By one or a combination of the following items (described in the Option Agreement)1:
		
		  	 ̈   By cash or check
		  	 ̈   By bank draft or money order payable to the Company
		  	 ̈   Pursuant to a Regulation T Program if the Shares are publicly traded
		  	 ̈   By delivery of already-owned shares if the Shares are publicly traded
		  	 ̈   By a “net exercise” arrangement, subject to the Company’s consent at the time of exercise

 Additional Terms/Acknowledgements: Optionholder acknowledges receipt of, and understands and agrees to, this Stock
Option Grant Notice, the Option Agreement and the Plan. Optionholder acknowledges and agrees that this Stock Option Grant Notice and the Option Agreement may not be modified, amended or revised except as provided in the Plan. Optionholder further
acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the Option Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding this option award and supersede all prior oral and
written agreements, promises and/or representations on that subject with the exception of (i) options previously granted and delivered to Optionholder, (ii) any compensation recovery policy that is adopted by the Company or is otherwise
required by applicable law and (iii) any written employment or severance arrangement that would provide for vesting acceleration of this option upon the terms and conditions set forth therein. 

By accepting this option, Optionholder consents to receive such documents by electronic delivery and to participate in the Plan through an on-line or
electronic system established and maintained by the Company or another third party designated by the Company. 
  

 

	1 	Company to decide which methods of payment to allow 

									
	PARATEK PHARMACEUTICALS, INC.	 		 	OPTIONHOLDER:
				
	By:	 	  
	 		 	[NAME]
				
	Title:	 	  
	 		 	  

		 		 		 	Signature
	 Date:
	 	  

 
	 		 	Date:	 	  

 ATTACHMENTS: Option Agreement, 2015 Inducement Plan and Notice of Exercise 

  
 2. 

 PARATEK PHARMACEUTICALS, INC. 

2015 INDUCEMENT PLAN 

OPTION AGREEMENT 

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement, Paratek Pharmaceuticals, Inc.
(the “Company”) has granted you a nonstatutory stock option under its 2015 Inducement Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your Grant
Notice at the exercise price indicated in your Grant Notice. The option is granted to you effective as of the date of grant set forth in the Grant Notice (the “Date of Grant”). If there is any conflict between the terms in
this Option Agreement and the Plan, the terms of the Plan will control. Capitalized terms not explicitly defined in this Option Agreement or in the Grant Notice but defined in the Plan will have the same definitions as in the Plan. 

The details of your option, in addition to those set forth in the Grant Notice and the Plan, are as follows: 

1. VESTING. Subject to the provisions contained herein, your option will vest as provided in your Grant Notice. Vesting
will cease upon the termination of your Continuous Service. 
 2. NUMBER OF SHARES
AND EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share in your Grant Notice will be adjusted for Capitalization Adjustments. 

3. EXERCISE RESTRICTION FOR NON-EXEMPT
EMPLOYEES. If you are an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended (that is, a “Non-Exempt Employee”), and except as otherwise provided in the Plan,
you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date of Grant, even if you have already been an employee for more than six (6) months. Consistent with the provisions
of the Worker Economic Opportunity Act, you may exercise your option as to any vested portion prior to such six (6) month anniversary in the case of (i) your death or disability, (ii) a Corporate Transaction in which your option is
not assumed, continued or substituted, (iii) a Change in Control or (iv) your termination of Continuous Service on your “retirement” (as defined in the Company’s benefit plans). 

4. METHOD OF PAYMENT. You must pay the full amount of the
exercise price for the shares you wish to exercise. You may elect to make payment of the exercise price in any manner permitted by your Grant Notice, which may include one or more of the following: 

(a) By cash or by check, bank draft, electronic transfer or money order payable to the Company. 

(b) Pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of
Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. This manner of payment is also known as a
“broker-assisted exercise”, “same day sale”, or “sell to cover”. 

  
 1. 

 (c) By delivery to the Company (either by actual delivery or attestation) of already-owned
shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the sole discretion of the
Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of
Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. 

(d) Subject to the consent of the Company at the time of exercise, by a “net exercise” arrangement pursuant to which the
Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the
aggregate exercise price not satisfied by the “net exercise” in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares
(i) are used to pay the exercise price pursuant to the “net exercise,” (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. 

5. WHOLE SHARES. You may exercise your option only for whole shares of Common Stock. 

6. SECURITIES LAW COMPLIANCE. In no event may you exercise your option unless the shares
of Common Stock issuable upon exercise are then registered under the Securities Act or, if not registered, the Company has determined that your exercise and the issuance of the shares would be exempt from the registration requirements of the
Securities Act. The exercise of your option also must comply with all other applicable laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not be in material compliance
with such laws and regulations (including any restrictions on exercise required for compliance with Treas. Reg. 1.401(k)-1(d)(3), if applicable). 

7. TERM. You may not exercise your option before the Date of Grant or after the expiration of the option’s term.
The term of your option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: 
 (a)
immediately upon the termination of your Continuous Service for Cause; 
 (b) three (3) months after the termination of your
Continuous Service for any reason other than Cause, your Disability or your death (except as otherwise provided in Section 8(d) below); provided, however, that if during any part of such three (3) month period your option is not
exercisable solely because of the condition set forth in the section above relating to “Securities Law Compliance,” your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate
period of three (3) months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, 

  
 2. 

 
the sale of any Common Stock received upon exercise of your option would violate the Company’s insider trading policy, then your option will not expire until the earlier of the Expiration
Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the
Company’s insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six (6) months after the Date of Grant, and (iii) you have vested in a
portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven (7) months after the Date of Grant, and (B) the date that
is three (3) months after the termination of your Continuous Service, and (y) the Expiration Date; 
 (c) twelve
(12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; 

(d) eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after
your Continuous Service terminates for any reason other than Cause; 
 (e) the Expiration Date indicated in your Grant Notice; or

 (f) the day before the tenth (10th) anniversary of the Date of Grant. 

8. EXERCISE. 

(a) You may exercise the vested portion of your option during its term by (i) delivering a notice of exercise (in a form designated
by the Company) or completing such other documents and/or procedures designated by the Company for exercise and (ii) paying the exercise price and any applicable withholding taxes to the Company’s Secretary, stock plan administrator, or
such other person as the Company may designate, together with such additional documents as the Company may then require. 
 (b) By
exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising
by reason of (i) the exercise of your option, (ii) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (iii) the disposition of shares of Common Stock acquired
upon such exercise. 
 9. TRANSFERABILITY. Except as otherwise provided in this Section 9, your option is not
transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. 
 (a) Certain
Trusts. Upon receiving written permission from the Board or its duly authorized designee, you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable
state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. 

  
 3. 

 (b) Domestic Relations Orders. Upon receiving written permission from the Board or its
duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital
settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of
any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement.

 (c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by
delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and
receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the
Common Stock or other consideration resulting from such exercise. 
 10. OPTION NOT A
CONTRACT FOR EMPLOYMENT. Your option is not an employment contract, and nothing in your option will be deemed to create in any way whatsoever any obligation on your part to continue in
the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. 
 11.
WITHHOLDING OBLIGATIONS. 
 (a) At the time you exercise your option, in whole or in part, and at
any time thereafter as requested by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “same day sale” pursuant to a
program developed under Regulation T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate,
if any, which arise in connection with the exercise of your option. 
 (b) Because this option is a Nonstatutory Stock Option, then
upon your request and subject to approval by the Company, and compliance with any applicable legal conditions or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your
option a number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to
avoid classification of your option as a liability for financial accounting purposes). If the date of determination of any tax withholding obligation is deferred to a date later than the date of exercise of your option, share withholding pursuant to
the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon such exercise with respect to which such
determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. 

  
 4. 

 
Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined as of the date of exercise of your option that are
otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such share withholding procedure shall be your sole responsibility. 

(c) You may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied.
Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company will have no obligation to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any
escrow provided for herein, if applicable, unless such obligations are satisfied. 
 12. TAX
CONSEQUENCES. You hereby agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes your tax liabilities. You will not make any claim
against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of the
Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated
with the option. 
 13. NOTICES. Any notices provided for in your option or the Plan will be given in
writing (including electronically) and will be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, addressed to you at
the last address you provided to the Company. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this option by electronic means or to request your consent to participate in the Plan by
electronic means. By accepting this option, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party
designated by the Company. 
 14. GOVERNING PLAN DOCUMENT. Your option is
subject to all the provisions of the Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted
pursuant to the Plan. If there is any conflict between the provisions of your option and those of the Plan, the provisions of the Plan will control. In addition, your option (and any compensation paid or shares issued under your option) is subject
to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise required by
applicable law. 
 15. OTHER DOCUMENTS. You hereby acknowledge receipt of and the right
to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s policy permitting certain individuals to
sell shares only during certain “window” periods and the Company’s insider trading policy, in effect from time to time. 

  
 5. 

 16. EFFECT ON OTHER EMPLOYEE
BENEFIT PLANS. The value of this option will not be included as compensation, earnings, salaries, or other similar terms used when calculating your benefits under any employee benefit plan sponsored
by the Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company’s or any Affiliate’s employee benefit plans. 

17. VOTING RIGHTS. You will not have voting or any other rights as a stockholder of the
Company with respect to the shares to be issued pursuant to this option until such shares are issued to you. Upon such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this option, and no
action taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company or any other person. 

18. SEVERABILITY. If all or any part of this Option Agreement or the Plan is declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Option Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Option Agreement (or part of such a
Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid. 

19. MISCELLANEOUS. 

(a) The rights and obligations of the Company under your option will be transferable to any one or more persons or entities, and all
covenants and agreements hereunder will inure to the benefit of, and be enforceable by the Company’s successors and assigns. 

(b) You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the
Company to carry out the purposes or intent of your option. 
 (c) You acknowledge and agree that you have reviewed your option in
its entirety, have had an opportunity to obtain the advice of counsel prior to executing and accepting your option, and fully understand all provisions of your option. 

(d) This Option Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental
agencies or national securities exchanges as may be required. 
 (e) All obligations of the Company under the Plan and this Option
Agreement will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the
Company. 
 *        *        * 

  
 6. 

 This Option Agreement will be deemed to be signed by you upon the signing by you of the Stock
Option Grant Notice to which it is attached. 

  
 7. 

 Exhibit A 

PARATEK PHARMACEUTICALS, INC. 

2015 INDUCEMENT PLAN 

 NOTICE OF EXERCISE 

UNDER THE PARATEK PHARMACEUTICALS, INC. 

2015 INDUCEMENT PLAN 

PARATEK PHARMACEUTICALS, INC. 

75 KNEELAND STREET 

BOSTON, MA 02111 
 Date of
Exercise:                      
 This
constitutes notice to Paratek Pharmaceuticals, Inc. (the “Company”) under my nonstatutory stock option described below (the “Option”) granted pursuant to the Company’s 2015 Inducement Plan (as it
may be amended from time to time) as evidenced by the Stock Option Grant Notice and Option Agreement thereunder, that I elect to purchase the below number of shares of Common Stock of the Company (the “Shares”) for the price
set forth below. 
  

									
	 Option Grant Date:
	  				  			
	 Number of Shares as to which the Option is exercised:
	  				  			
	 Certificates to be issued in name of:
	  				  			
	 Total exercise price:
	  	$	 	  	  	$	            	  
	 Cash payment delivered herewith:
	  	$	 	  	  	$	 	  
	 [Value of         Shares delivered
herewith2:
	  	$	 	  	  	$	 	  
	 [Value of         Shares pursuant to net
exercise]3
	  	$	 	  	  	$	 	  
	 Regulation T Program (cashless exercise):
	  	$	            	  	  	$	 	  

 By this exercise, I agree (i) to provide such additional documents as you may require pursuant to the
terms of the Company’s 2015 Inducement Plan (as it may be amended from time to time), and (ii) to provide for the payment by me to the Company (in the manner designated by the Company) of the Company’s withholding obligation relating
to the exercise of the Option. 
  

	
	 Very truly yours,
  

 

	 Signature
  

 

	Print Name

  

	2 	Shares must be valued in accordance with the terms of the Option being exercised, and must be owned free and clear of any liens, claims, encumbrances or security interests. Certificates must be endorsed or accompanied
by an executed assignment separate from certificate. 

	3 	Company must have established a net exercise program for this method to be available.20150203 EX 4_29

		
			After Filing Return To:
		

		
			 
		

		
			Chugach Electric Association, Inc.
		

		
			5601 Electron Drive
		

		
			Post Office Box 196300
		

		
			Anchorage, AK  99519-6300
		

		
			Attention: Mr. Tom Schulman
		

		
			 
		

		
			 
		

		
			 
		

		
			FOURTH SUPPLEMENTAL INDENTURE OF TRUST
		

		
			 
		

		
			(Adding Legal Description of Real Property to Exhibit A
		

		
			of Second Amended and Restated Indenture of Trust)
		

		
			 
		

		
			THIS FOURTH SUPPLEMENTAL INDENTURE OF TRUST, dated as of February 3rd, 2015, is amendatory and supplemental to that certain Second Amended and Restated Indenture of Trust dated January 20, 2011 (the “Original Indenture”), by and between CHUGACH ELECTRIC ASSOCIATION, INC., an Alaska electric cooperative (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, recorded January 20, 2011, under the following recording numbers:
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Recording District

					
					
						Recording Number

				
	
					
						Anchorage

					
					
						2011-003688-0

				
	
					
						Kenai

					
					
						2011-000608-0

				
	
					
						Palmer

					
					
						2011-001410-0

				
	
					
						Seward

					
					
						2011-000062-0

				

		
			 
		

		
			which Second Amended and Restated Indenture of Trust was associated with a Trust Indenture dated as of September 15, 1991, and recorded September 25, 1991, under the following recording numbers:
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Recording District

					
					
						Recording Number

				
	
					
						Anchorage

					
					
						Book 2195, Page 178

				
	
					
						Kenai

					
					
						Book 663, Page 167

				
	
					
						Palmer

					
					
						Book 389, Page 637

				
	
					
						Seward

					
					
						Book 62, Page 351

				

		
			 
		

		
			The Original Indenture was amended by that First Supplemental Indenture of Trust dated as of January 20, 2011 (“First Supplemental Indenture”), which was recorded on January 20, 2011, in the districts of Anchorage, Kenai, Palmer and Seward, Alaska, under the following recording numbers:
		

		
			 
		

		

		

		 

		

			 

		

		

			 

		

 

		 
		

			
					
						 

					
					
						 

				
	
					
						Recording District

					
					
						Recording Number

				
	
					
						Anchorage

					
					
						2011-003689-0

				
	
					
						Kenai

					
					
						2011-000609-0

				
	
					
						Palmer

					
					
						2011-001411-0

				
	
					
						Seward

					
					
						2011-000063-0

				

		
			 
		

		
			The purposes of the First Supplemental Indenture were to provide for the creation and designation of a series of Obligations known as First Mortgage Bonds, 2011 Series A, and to specify the form and provisions of the First Mortgage Bonds, 2011 Series A.
		

		
			 
		

		
			The Original Indenture was further amended by Second Supplemental Indenture of Trust dated as of September 30, 2011 (the “Second Supplemental Indenture”), which was recorded on October 10, 2011, in the districts of Anchorage, Kenai, Palmer and Seward, Alaska, under the following recording numbers.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Recording District

					
					
						Recording Number

				
	
					
						Anchorage

					
					
						2011-048750-0

				
	
					
						Kenai

					
					
						2011-009565-0

				
	
					
						Palmer

					
					
						2011-019671-0

				
	
					
						Seward

					
					
						2011-001198-0

				

		
			 
		

		
			The purpose of the Second Supplemental Indenture was to confirm that (i) the Company’s interest in the Bernice Lake Repeater Station (which is located on land legally described in the paragraph titled “Parcel 5” in Exhibit A to the Original Indenture but which land was also erroneously listed in Exhibit C to the Original Indenture) was and is in all respects subject to the lien of the Indenture, and (ii) the Company’s interest in the Bernice Lake Power Plant, which is located on land legally described in the paragraph titled “Bernice Lake Power Plant” in Exhibit C attached to the Second Supplemental Indenture, and which was subsequently sold by the Company, was Excepted Property (as defined in the Indenture).
		

		
			 
		

		
			The Original Indenture was further amended by Third Supplemental Indenture of Trust dated as of January 5, 2012 (the “Third Supplemental Indenture”), which was recorded on January 10, 2012, in the districts of Anchorage, Kenai, Palmer and Seward, Alaska, under the following recording numbers:
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						Recording District

					
					
						Recording Number

				
	
					
						Anchorage

					
					
						2012-001554-0

				
	
					
						Kenai

					
					
						2012-000310-0

				
	
					
						Palmer

					
					
						2012-000586-0

				
	
					
						Seward

					
					
						2012-000029-0

				

		
			 
		

		

		

		 

		

			2

		

		

			 

		

 

		
		

		
			The purposes of the Third Supplemental Indenture were to provide for the creation and designation of a series of Obligations known as First Mortgage Bonds, 2012 Series A, and to specify the form and provisions of the First Mortgage Bonds, 2012 Series A.
		

		
			 
		

		
			The Original Indenture, as amended by the First, Second and Third Supplemental Indentures, is referred to herein as the “Indenture.”
		

		
			 
		

		
			The Indenture secures payment of the principal of (and premium, if any) and interest on the Outstanding Secured Bonds (as defined in the Indenture) and the performance of the covenants contained in such Outstanding Secured Bonds and the Indenture.
		

		
			 
		

		
			Pursuant to the Indenture, the Company did grant, bargain, sell, alien, remise, release, convey, assign, transfer, mortgage, hypothecate, pledge, set over and confirm to U.S. Bank National Association, as Trustee, all property, rights, privileges and franchises of the Company of every kind and description, real, personal or mixed, tangible and intangible, whether then owned or thereafter acquired by the Company, except any Excepted Property (as defined in the Indenture), and granted a security interest therein for the purposes therein expressed.
		

		
			 
		

		
			The Company owns an additional interest in real property, which real property was not specifically described in Exhibit A to the Indenture, but which interest the Company now intends to be subjected to the lien of the Indenture from and after the date of this Fourth Supplemental Indenture.
		

		
			 
		

		
			The purpose of this Fourth Supplemental Indenture is to confirm that the Company’s interest in the real property described in Exhibit A attached to this Fourth Supplemental Indenture, including the Company’s interest in all improvements thereon and appurtenances thereto, is in all respects subject to the lien of the Indenture in the same manner and to the same extent as if legally described in Exhibit A to the Indenture, and Exhibit A to the Indenture is hereby amended to add the Company’s interest in the real property described in Exhibit A attached to this Fourth Supplemental Indenture.
		

		
			 
		

		

		

		 

		

			3

		

		

			 

		

 

		 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						CHUGACH ELECTRIC ASSOCIATION, INC.,

				
	
					
						an Alaska electric Cooperative

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Bradley Evans

				
	
					
						 

					
					
						Title:

					
					
						CEO

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						U.S. BANK NATIONAL ASSOCIATION,

				
	
					
						a national banking association

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Dyan Huhta

				
	
					
						 

					
					
						Title:

					
					
						Senior Vice President

				

		
			 
		

		
			 
		

		
			 
		

		
			Fourth Supplemental Indenture – Signature Page
		

		

		

		 

		

			 

		

		

			 

		

 

		
		

		
			STATE OF ALASKA                   )
		

		
			                                                       )  ss.
		

		
			THIRD JUDICIAL DISTRICT     )
		

		
			 
		

		
			The foregoing instrument was acknowledged before me this 3rd day of Feb., 2015, by Bradley Evans, the CEO of CHUGACH ELECTRIC ASSOCIATION, INC., an Alaska electric cooperative, on behalf of the cooperative.
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						/s/ Divina Portades

				
	
					
						NOTARY PUBLIC in and for the State of

				
	
					
						Alaska, residing at

					
					
						Anchorage

				
	
					
						My commission expires

					
					
						4/1/17

				
	
					
						Print Name

					
					
						Divina Portades

				

		
			 
		

		
			 
		

		
			 
		

		
			STATE OF WASHINGTON        )
		

		
			                                                       )  ss.
		

		
			COUNTY OF KING                     )
		

		
			 
		

		
			I certify that I know or have satisfactory evidence that Dyan Huhta, is the person who appeared before me, and said person acknowledged that she signed this instrument, and on oath stated that she was authorized to execute the instrument and acknowledge it as the Senior Vice President of U.S. BANK NATIONAL ASSOCIATION, to be the free and voluntary act and deed of said national banking association, for the uses and purposes therein mentioned.
		

		
			 
		

		
			Given under my hand and official seal this 30th day of January, 2015.
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						/s/ Nicole DeCamp

				
	
					
						NOTARY PUBLIC in and for the State of

				
	
					
						Washington, residing at

					
					
						Seattle

				
	
					
						My commission expires

					
					
						4/9/16

				
	
					
						Print Name

					
					
						Nicole DeCamp

				

		
			 
		

		
			 
		

		
			 
		

		
			Fourth Supplemental Indenture – Acknowledgements
		

		

		

		 

		

			 

		

		

			 

		

 

		
		

		
			EXHIBIT A
		

		
			to Fourth Supplemental Indenture of Trust
		

		
			(Additional Real Property Included in Trust Estate)
		

		
			 
		

		
			 
		

		
			Tract One (1), HANE SUBDIVISION, according to the official plat thereof, filed under Plat No. 66-94, books and records of the Anchorage Recording District, Third Judicial District, State of Alaska;
		

		
			 
		

		
			SUBJECT TO reservations and exceptions as contained in the U.S. Patent;
		

		
			 
		

		
			FURTHER SUBJECT TO notes, easements and restrictions as delineated on the face of plat 66-94;
		

		
			 
		

		
			FURTHER SUBJECT TO reservations, exceptions, easements, rights-of-way, and other matters of record, not affecting marketability, if any.
		

		
			 
		

		
			 
		

		
			 
		

		
			Fourth Supplemental Indenture – Exhibit A

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