Document:

Exhibit

Exhibit 10.1

BLUE BIRD CORPORATION 
RESTRICTED STOCK UNIT GRANT AGREEMENT
Grant Details:
	
		
	Recipient:
	 

	Number of Restricted Stock Units:
	 

	Number of Shares subject to each Unit:
	1

	Vesting Date:
	See “Exhibit A”

	Grant Date:
	 

Agreement:

This Restricted Stock Unit Grant Agreement (the “Agreement”) is entered into effective as of the Grant Date between the Recipient and Blue Bird Corporation, a Delaware corporation (the “Company”), pursuant to the Blue Bird Corporation 2015 Omnibus Equity Incentive Plan (the “Plan”).

WHEREAS, the Company desires and the Board has approved to grant, and the Recipient desires to receive, a Grant of Restricted Stock Units pursuant and subject to the terms and conditions of the Plan and this Agreement (the “Grant”). 
    
NOW, THEREFORE, the Recipient and the Company hereby agree as follows:

1.    The Plan, Grant Details and Defined Terms.  The provisions of the Plan and the Grant Details listed above are incorporated into this Agreement by reference.  Capitalized terms used but not defined in this Agreement or the Grant Details set forth above shall have the meanings ascribed to them in the Plan.  To the extent any provision hereof is inconsistent with a provision of the Plan, the provisions of the Plan will govern.

2.    Grant of Restricted Stock Units.  As of the Grant Date, the Company hereby grants to the Recipient the number of Restricted Stock Units set forth in the Grant Details above (the “Restricted Stock Units”), subject to the terms and conditions of the Plan and this Agreement.  The number of shares of Company common stock, par value $0.0001 per share (the “Shares”), subject to each Restricted Stock Unit shall be the number set forth in the Grant Details above.        

3.Vesting and Forfeiture of Restricted Stock Units.  The Restricted Stock Units shall become vested as of the vesting date(s) specified in Notice of Restricted Stock Units contained in “Exhibit A,” provided that the Recipient remains in “Continuous Service” (as defined below) through the applicable vesting date.  For purposes hereof, “Continuous Service” means the absence of any termination of service as a director of the Company.  Notwithstanding the foregoing, all of the Restricted Stock Units shall become immediately vested in the event that (i) the Recipient’s Continuous Service terminates due to death or Disability, the Recipient’s Continuous Service is terminated because the Recipient is not re-elected to the Board, or the Recipient voluntarily resigns from the Board, or (ii) a Change in Control occurs while the Recipient is in Continuous Service. Except as otherwise provided herein, if the Recipient’s Continuous Service terminates for any reason prior to applicable vesting date, the Restricted Stock Units shall be forfeited as of the date of the Recipient’s termination for no consideration.

4.Settlement of Restricted Stock Units.  For each Restricted Stock Unit that becomes vested in accordance with Section 3 hereof, the Company shall, subject to Section 14 hereof, issue and deliver to the Recipient the number of Shares subject to each Restricted Stock Unit as soon as practicable, and in all cases within ten (10) days following, the “Settlement Date” (as defined herein).  For the purposes hereof, “Settlement Date” means the earlier of (i) the date the Recipient’s Continuous Service terminates for any reason, or (ii) the date of the consummation of a Change of Control (the “Settlement Date”).

5.Restrictions on Transfer of Restricted Stock Units.  Restricted Stock Units granted under this Agreement and rights relating thereto may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated.

6.Rights as a Shareholder.  The Recipient shall not have any rights of an owner of the Shares subject to the Restricted Stock Units (including but not limited to dividend (or dividend equivalent) and voting rights) prior to the Settlement Date.

7.Administration by the Committee.  The Plan, this Agreement and the Restricted Stock Units shall be subject to such administrative procedures and rules as the Committee shall adopt.  Decisions of the Committee on all matters relating to the Plan, this Agreement and the Restricted Stock Units shall be in the Committee’s sole discretion and shall be conclusive and binding on all parties.

8.Compliance with Law and Regulations.  The Plan, this Agreement and the Restricted Stock Units shall be subject to all applicable federal and state laws, rules, and regulations and to such approvals by any government or regulatory agency as may be required.  The Company shall have no liability to issue or deliver shares under the Grant unless such issuance and delivery would comply with all applicable state, federal and foreign laws (including, without limitation and if applicable, the requirements of the Securities Exchange Act of 1934), and any applicable requirements of any securities exchange or similar entity and under any blue sky or other securities laws.

9.Company Policies.  The Recipient agrees that he or she has read and will comply with all Company policies applicable to the Grant, including but not limited to the Company’s insider trading policy.

10.Adjustments.  If any change in the outstanding Shares of the Company shall occur as a result of a corporate capitalization (such as a stock split, reverse stock split, stock dividend, or any other similar transaction or recapitalization), then the Committee shall make equitable adjustments, as it determines are necessary and appropriate to prevent the enlargement or dilution of benefits intended to be made available under the Grant in accordance with Section 4.2 of the Plan.

11.No Rights to Continued Service.  Nothing in the Plan or this Agreement shall confer upon the Recipient any right to continue in Continuous Service with the Company.

12.Governing Law.  To the extent not preempted by federal law, this Agreement shall be construed in accordance with and governed by the laws of the State of Delaware, without giving effect to any choice of law provisions.

13.Amendment.  Subject to Section 14 hereof, any modification of or amendment to this Agreement shall be effective only if it is in writing and signed by both parties, except as otherwise provided under the Plan.

14. Section 409A.  The terms of this Agreement are intended and shall be interpreted so as to comply with the requirements of Section 409A of the Code (“Section 409A”) in both form and operation.  Any provision that would cause this Agreement to fail to satisfy Section 409A shall have no force or effect until amended to comply with Section 409A, which amendment may be retroactive to the extent permitted by Section 409A.  In addition to any other authority to amend  this Agreement pursuant to Section 13 hereof, the Company shall have the authority to modify this Agreement to the extent it deems necessary to comply with Section 409A, as determined in good faith, in its sole and absolute discretion.  Notwithstanding any other provision of this Agreement, if required pursuant to Section 409A(a)(2)(B) of the Code, settlement of the Restricted Stock Units under this Agreement shall be deferred until six (6) months after the Recipient’s separation from service, as that term is defined in Treas. Reg. Section 1.409A(1)(h), or, if earlier, his or her death, as required by Section 409A(a)(2)(B)(i) of the Code.  For purposes of this Agreement, an event shall not be considered to be “Change in Control” unless and until such event constitutes a “change in the ownership or effective control” of the Company or a “change in a substantial portion of the assets” of the Company within the meaning of Treasury Regulation 1.409A-3(i)(5).  For purposes of this Agreement, the termination of the Recipient’s Continuous Service shall not be considered to have occurred unless and until such termination also constitutes a “separation from service” within the meaning of Treasury Regulation 1.409A-1(h).  Notwithstanding the foregoing, nothing in this Agreement shall be construed as a guarantee of the tax consequences under this Agreement.  Neither the Company nor any Company shareholder shall be liable as the result of any taxes (including but not limited to any excise taxes under Section 409A(a)(1)(B)) of the Code, interest, or other penalties that may be imposed with respect to this Grant. 

15.Review and Acceptance.  The Recipient has been given the opportunity and encouraged to carefully review this Agreement with his or her tax advisor and legal counsel.  The Recipient will be deemed to have automatically accepted this Agreement (and the terms of the Plan incorporated herein) unless the Recipient notifies the Company in writing within ninety (90) days following the Grant Date that the Recipient affirmatively rejects the Agreement. 

“EXHIBIT A”

NOTICE OF RESTRICTED STOCK UNITS OF BLUE BIRD CORPORATION

-- SEE INFORMATION DISPLAYED ON THE FOLLOWING PAGE --

Notice of Restricted Stock Units of Blue Bird Corporation

Company Name            Blue Bird Corporation

Plan                    Blue Bird Corporation Omnibus Equity Incentive Plan

Participant Name            

Participant Address                                
                                            

Grant/Award Type            Restricted Stock Units

Number of Units Granted        

Shares Subject to Each Unit        1 

Grant Date                

VESTING SCHEDULE

Vesting Date            Number of Units        Percent
100%EX-4.1

 Exhibit 4.1 
  

 
  

SUPPLEMENTAL INDENTURE NO. 5 

Dated as of August 18, 2015 

Between 
 KANSAS CITY
POWER & LIGHT COMPANY, 
 As Issuer 

and 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., 
 As Trustee 

Creating 3.65% Senior Notes Due 2025 
  

 
  

 THIS SUPPLEMENTAL INDENTURE NO. 5 (this “Supplemental Indenture”), dated
as of August 18, 2015, is between KANSAS CITY POWER & LIGHT COMPANY, a Missouri corporation (“Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association (formerly The Bank of New
York Trust Company, N.A.), as Trustee (“Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of May 1, 2007 (the “Original
Indenture” and, as previously and hereby supplemented, the “Indenture”), providing for the issuance from time to time of one or more series of the Company’s Notes; 

WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a series of Notes to be designated as
the “3.65% Notes due 2025” (the “2025 Notes”), the form and substance of the 2025 Notes and the terms, provisions and conditions thereof to be set forth as provided in the Original Indenture and this Supplemental
Indenture; 
 WHEREAS, Section 2.05(c) of the Original Indenture provides that various matters with respect to any series of Notes
issued under the Indenture may be established in an indenture supplemental to the Indenture; 
 WHEREAS, Section 13.01(a)(3) of the
Original Indenture provides that the Company and the Trustee may enter into an indenture supplemental to the Indenture to establish the form or terms of Notes of any series as permitted by Section 2.01 of the Original Indenture or to establish
or reflect any terms of any Note of any series determined pursuant to Section 2.05 of the Original Indenture; and 
 WHEREAS, all acts
and things necessary to make this Supplemental Indenture, when duly executed and delivered, a valid, binding and legal instrument in accordance with its terms and for the purposes herein expressed, have been done and performed; and the execution and
delivery of this Supplemental Indenture have been in all respects duly authorized. 
 NOW, THEREFORE, in consideration of the foregoing and
for other good and valuable consideration, the receipt of which is hereby acknowledged, it is agreed by and between the Company and the Trustee for the equal and ratable benefit of the Holders of the 2025 Notes and for the benefit of the Trustee as
follows: 
 ARTICLE ONE 

Relation to Indenture; Additional Definitions 

Section 1.01. Relation to Indenture. This Supplemental Indenture constitutes an integral part of the Original Indenture. 

 Section 1.02. Additional Definitions. For all purposes of this Supplemental
Indenture, capitalized terms used herein shall have the respective meanings specified below or in the Original Indenture, as the case may be. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as
having a maturity comparable to the remaining term of the 2025 Notes to be redeemed (assuming, for this purpose, that the 2025 Notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the 2025 Notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference
Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, (2) if the Quotation Agent obtains fewer than four of such Reference Treasury Dealer Quotations, the
average of all such quotations, or (3) if only one such Reference Treasury Dealer Quotation is received, such quotation. 

“Corporate Trust Office” means the designated office of the Trustee at which at any particular time its
corporate trust business shall be administered, which office at the date hereof is located at 2 North LaSalle Street, 7th Floor, Chicago, Illinois 60602, Attention: Corporate Trust Administration;
telecopy: (312) 827-8542. 
 “Maturity Date” has the meaning set forth in Section 2.03. 

“Note Registrar” means The Bank of New York Mellon Trust Company, N.A., hereby appointed as an agency of the
Company in accordance with Section 6.02 of the Original Indenture. 
 “Original Indenture” has the
meaning set forth in the first paragraph of the Recitals hereof. 
 “Par Call Date” means May 15, 2025.

 “Quotation Agent” means a Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of J.P. Morgan Securities LLC and Merrill Lynch, Pierce,
Fenner & Smith Incorporated or their affiliates, and their respective successors, unless either of them ceases to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”), in
which case the Company will substitute therefor another Primary Treasury Dealer, (2) a Primary Treasury Dealer selected by Mitsubishi UFJ Securities (USA), Inc., (3) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC and
(4) one other Primary Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation 

  
 2 

 
Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference
Treasury Dealer at 5:00 p.m., New York City time on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

“2025 Notes” has the meaning set forth in the second paragraph of the Recitals hereof. 

All references herein to Articles, Sections or Exhibits, unless otherwise specified, refer to the corresponding Articles, Sections or Exhibits
of this Supplemental Indenture. The terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this Supplemental Indenture. 

ARTICLE TWO 
 The Series
of Notes 
 Section 2.01. Title of the Notes. The 2025 Notes shall be designated as the “3.65% Notes due
2025.” 
 Section 2.02. Limitation on Aggregate Principal Amount. The Trustee shall authenticate and deliver 2025 Notes
for original issue on the Original Issue Date in the aggregate principal amount of $350,000,000, upon a Company Order for the authentication and delivery thereof in satisfaction of Sections 2.01(a) and 2.05(c) of the Original Indenture. Such order
shall specify the amount of the 2025 Notes to be authenticated, the date on which the original issue of 2025 Notes is to be authenticated and the name or names of the initial Holder or Holders. The aggregate principal amount of 2025 Notes that may
initially be outstanding shall not exceed $350,000,000; provided, however, that the authorized aggregate principal amount of the 2025 Notes may be increased above such amount without the consent of the Holders of any then outstanding 2025
Notes by a Board Resolution authorizing such increase. Any additional notes issued pursuant to such increase must have the same ranking, interest rate, maturity and other terms (except for the initial public offering price, the Original Issue Date
and the first Interest Payment Date, as applicable) as the 2025 Notes; provided that if any such additional notes are not fungible for U.S. federal income tax purposes with the 2025 Notes, such additional notes will be issued under a separate CUSIP
number. Any such additional notes, together with the 2025 Notes, will constitute a single series of notes under the Indenture. 

Section 2.03. Stated Maturity. The Stated Maturity of the 2025 Notes shall be August 15, 2025 (the “Maturity
Date”). 

  
 3 

 Section 2.04. Interest and Interest Rate. 

(a) The 2025 Notes shall bear interest at the rate of 3.65% per annum, from and including their Original Issue Date of August 18,
2015, or from the most recent Interest Payment Date to which interest has been paid to, but excluding, the Maturity Date. Such interest shall be payable semiannually in arrears, on the Interest Payment Dates of February 15 and August 15 in
each year, commencing on February 15, 2016. Interest accrued on the 2025 Notes from the last Interest Payment Date before the Maturity Date shall be payable on the Maturity Date. 

(b) The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Persons in whose
names the 2025 Notes (or one or more predecessor securities) are registered on the Regular Record Date for such Interest Payment Date, being the close of business on the immediately preceding February 1 and August 1, as the case may be,
whether or not such day is a Business Day. 
 Section 2.05. Place of Payment. Principal and interest payments on the 2025 Notes
will be made by the Company to The Depository Trust Company (“DTC”) while it is the Depositary for the 2025 Notes, or if DTC shall cease to be the Depositary for the 2025 Notes, to the Trustee at its offices, as paying agent. 

Section 2.06. Place of Registration or Exchange; Notices and Demands With Respect to the 2025 Notes. The place where the Holders
of the 2025 Notes may present the 2025 Notes for registration of transfer or exchange and may make notices and demands to or upon the Company in respect of the 2025 Notes shall be the Corporate Trust Office of the Trustee. 

Section 2.07. Global Notes. 

(a) 2025 Notes shall be issuable in whole or in part in the form of one or more permanent Global Notes in definitive, fully registered,
book-entry form, without interest coupons. The Global Note shall be deposited on the Original Issue Date with, or on behalf of, the Depositary. 

(b) DTC shall initially serve as Depositary with respect to the Global Note. Such Global Note shall bear the legend set forth in the form of
2025 Note attached as Exhibit A. 
 Section 2.08. Form of Securities. The Global Note shall be substantially in the form
attached as Exhibit A. 
 Section 2.09. Note Registrar. The Trustee shall initially serve as the Note Registrar for the
2025 Notes. 
 Section 2.10. Sinking Fund Obligations. The Company shall have no obligation to redeem or purchase any 2025 Notes
pursuant to any sinking fund or analogous requirement or upon the happening of a specified event or at the option of Holder thereof. 

  
 4 

 ARTICLE THREE 

Optional Redemption of the 2025 Notes 

Section 3.01. Redemption. Except as described in Article III of the Original Indenture and this Section 3.01, the 2025 Notes
may not be redeemed prior to the Maturity Date. Prior to the Par Call Date, the Company shall have the right to redeem the 2025 Notes, at its option, at any time in whole, or from time to time in part, at a redemption price equal to the greater of:

 (i) 100% of the principal amount of the 2025 Notes to be redeemed; and 

(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2025 Notes to be
redeemed that would be due if the 2025 Notes matured on the Par Call Date (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day
year consisting of twelve 30-day months) at the Treasury Rate, plus 25 basis points; 
 plus, in each case, accrued and unpaid interest on the principal
amount being redeemed to the redemption date. 
 On or after the Par Call Date, the Company shall have the right to redeem the 2025 Notes,
at its option, at any time in whole, or from time to time in part, at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest on the principal amount being redeemed to the
redemption date. 
 Notwithstanding the foregoing, installments of interest on the 2025 Notes that are due and payable on an Interest
Payment Date falling on our prior to a redemption date shall be payable on such Interest Payment Date to the Holders as of the close of business on the relevant Regular Record Date. 

ARTICLE FOUR 

Miscellaneous Provisions 

Section 4.01. The Indenture, as supplemented by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

 Section 4.02. This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but
such counterparts shall together constitute but one and the same instrument. 
 Section 4.03. THIS SUPPLEMENTAL INDENTURE AND EACH 2025
NOTE SHALL BE GOVERNED BY AND DEEMED TO BE A CONTRACT MADE UNDER, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
CONFLICTS OF LAWS PRINCIPLES THEREOF. 

  
 5 

 Section 4.04. If any provision in this Supplemental Indenture limits, qualifies or conflicts
with another provision hereof that is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control. 

Section 4.05. In case any provision in this Supplemental Indenture or the 2025 Notes shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 4.06. The recitals contained herein shall be taken as the statements of the Company, and the Trustee assumes no responsibility
for their correctness. The Trustee makes no representations as to the proper authorization or due execution hereof or of the 2025 Notes by the Company or as to the validity or sufficiency of this Supplemental Indenture or the 2025 Notes. The Trustee
shall not be accountable for the use or application by the Company of the 2025 Notes or the proceeds of the 2025 Notes. 

*            *           
 *            * 

  
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

			
	KANSAS CITY POWER & LIGHT COMPANY
		
	By	 	 /s/ Lori A. Wright

	Name:	 	Lori A. Wright
	Title:	 	Vice President – Investor Relations and Treasurer

 [CORPORATE SEAL] 
 ATTEST:

  

			
	By:	 	 /s/ Jaileah X. Huddleson

	Name:	 	Jaileah X. Huddleston
	Title:	 	Assistant Secretary
		 	and Corporate Counsel
		 	– Securities and Finance

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	as Trustee
		
	By	 	 /s/ Valere D. Boyd

	Name:	 	Valere D. Boyd
	Title:	 	Vice President

  
 7 

					
	STATE OF MISSOURI	 	)	  	
		 	)	  	ss.
	COUNTY OF JACKSON	 	)	  	

 On the 18th day of August, 2015, before me personally
came Lori A. Wright, to me known, who, being by me duly sworn, did depose and say that she is Vice President – Investor Relations and Treasurer of KANSAS CITY POWER & LIGHT COMPANY, one of the corporations described in and which
executed the above instrument; that she knows the corporate seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said corporation; and that
she signed her name thereto by like authority. 
 [NOTARIAL SEAL] 

 

	
	 /s/ Cathy G. Parman

	Notary Public

  
 8 

					
	STATE OF MISSOURI	 	)	  	
		 	)	  	ss.
	COUNTY OF JACKSON	 	)	  	

 On the 18th day of August, 2015, before me personally
came Jaileah X. Huddleston, to me known, who, being by me duly sworn, did depose and say that she is Assistant Secretary and Corporate Counsel – Securities and Finance of KANSAS CITY POWER & LIGHT COMPANY, one of the corporations
described in and which executed the above instrument; that she knows the corporate seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by authority of the Board of Directors of said
corporation; and that she signed her name thereto by like authority. 
 [NOTARIAL SEAL] 

 

	
	 /s/ Cathy G. Parman

	Notary Public

  
 9 

 Exhibit A 

[FORM OF NOTE] 
 [Certificated
Note] 
 For as long as this Global Note is deposited with or on behalf of The Depository Trust Company it shall bear the following legend: 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO KANSAS CITY
POWER & LIGHT COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENTS 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. 
 KANSAS CITY POWER & LIGHT COMPANY 

3.65% Notes due 2025 
  

					
	Interest Rate: 3.65% per annum	 		  	Principal Sum $350,000,000
	Maturity Date: August 15, 2025	 		  	        CUSIP No. 485134 BP4
	Registered Holder:                                  
                              	 		  	

 KANSAS CITY POWER & LIGHT COMPANY, a Missouri corporation (hereinafter called the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to the registered Holder named above or registered assigns, on the maturity date
stated above, the principal sum stated above and to pay interest thereon from August 18, 2015, or from the most recent Interest Payment Date to which interest has been duly paid or provided for, initially on February 15, 2016, and
thereafter semi-annually on February 15 and August 15 of each year, at the interest rate stated above, until the date on which payment of such principal sum has been made or duly provided for. The interest so payable on any Interest
Payment Date will be paid to the person in whose name this Note is registered at the close of business on the February 1 or August 1, as the case may be (whether or not such day is a Business Day), immediately preceding that Interest
Payment Date, except as otherwise provided in the Indenture. 
 The principal and interest payments on this Note will be made by the Company
to the registered Holder named above. All such payments shall be made in such coin or currency of the United States of America as at the time of payment is legally tender for payment of public and private debts. 

  
 A-1 

 This Note is one of a duly authorized issue of notes of the Company (herein called the
“Notes”), issued under an Indenture, dated as of May 1, 2007, as supplemented by Supplemental Indenture No. 5, dated as of August 18, 2015 (herein called the “Indenture,” which term shall have the
meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York Trust Company, N.A.), as Trustee (herein called the “Trustee,” which term includes
any successor trustee under the Indenture). Reference is made to the Indenture and any supplemental indenture thereto for the provisions relating, among other things, to the respective rights of the Company, the Trustee and the Holders of the Notes,
and the terms on which the Notes are authenticated and delivered. This Note is one of the series designated on the face hereof, initially limited in aggregate principal amount to $350,000,000; provided, however, that the authorized aggregate
principal amount of the Notes may be increased above such amount by a Board Resolution authorizing such increase. Any additional notes issued pursuant to such increase must have the same ranking, interest rate, maturity and other terms (except for
the initial public offering price, the Original Issue Date and the first Interest Payment Date, as applicable) as the Notes; provided that if any such additional notes are not fungible for U.S. federal income tax purposes with the Notes, such
additional notes will be issued under a separate CUSIP number. Any such additional notes, together with the Notes, will constitute a single series of notes under the Indenture. 

Prior to the Par Call Date, the Company shall have the right to redeem the Notes, at its option, at any time in whole, or from time to time in
part, at a redemption price equal to the greater of (i) 100% of the principal amount to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed that would
be due if the Notes matured on the Par Call Date (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate plus 25 basis points; plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to the redemption date. 

On or after the Par Call Date, the Company shall have the right to redeem the Notes, at its option, at any time in whole, or from time to time
in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest on the principal amount being redeemed to the redemption date. 

For purposes of determining the redemption price: 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Notes to be redeemed (assuming, for this purpose, that the Notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing
new issues of corporate debt securities of comparable maturity to the remaining term of the Notes. 
 “Comparable Treasury
Price” means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such of Reference Treasury Dealer Quotations, (2) if
the Quotation Agent obtains fewer than four of such Reference Treasury Dealer Quotations, the average of all such quotations, or (3) if only one such Reference Treasury Dealer Quotation is received, such quotation. 

  
 A-2 

 “Par Call Date” means May 15, 2025. 

“Quotation Agent” means a Reference Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (1) each of each of J.P. Morgan Securities LLC and Merrill Lynch, Pierce,
Fenner & Smith Incorporated or their affiliates, and their respective successors, unless either of them ceases to be a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”), in
which case the Company will substitute therefor another Primary Treasury Dealer, (2) a Primary Treasury Dealer selected by Mitsubishi UFJ Securities (USA), Inc., (3) a Primary Treasury Dealer selected by Wells Fargo Securities, LLC and
(4) one other Primary Treasury Dealer selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with
respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such redemption date. 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 

The Indenture contains provisions for defeasance at any time of (i) the entire indebtedness of this Note and (ii) the Company’s
obligations under the Indenture and this Note with respect to certain covenants and related Events of Default, upon compliance by the Company with certain conditions set forth in the Indenture. 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of this Note may be declared due and payable in
the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the
Holders of a majority in aggregate principal amount of the securities at the time outstanding of all series to be affected, considered as one class. The Indenture contains provisions permitting the Holders of a majority in aggregate principal amount
of the securities of any series at the time outstanding, on behalf of the Holders of all securities of such series, to waive certain past defaults or Events of Default under the Indenture, and their consequences. Any such consent or waiver by the
Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued in exchange, substitution or upon the registration or transfer hereof, irrespective of whether or not notation of
such consent or waiver is made upon this Note. 

  
 A-3 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the coin or currency, herein provided. 

This Note is issuable as a registered Note only, in the minimum denomination of $2,000 and integral multiples of $1,000 in excess thereof.

 As provided in the Indenture, this Note is transferable by the registered Holder hereof in person or by his attorney duly authorized in
writing on the books of the Company at the office or agency to be maintained by the Company for that purpose. Upon any registration of transfer, a new registered Note or Notes, of authorized denomination or denominations, and in the same aggregate
principal amount, will be issued to the transferee in exchange therefor. 
 The Company, the Trustee, any paying agent and any
Authenticating Agent may deem and treat the registered Holder hereof as the absolute owner of this Note (whether or not this Note shall be overdue) for the purpose of receiving payment of or on account of the principal of (and premium, if any) and
interest on this Note as herein provided and for all other purposes, and neither the Company nor the Trustee nor any paying agent nor any Authenticating Agent shall be affected by any notice to the contrary. 

No recourse shall be had for the payment of the principal of or any premium or interest on this Note, or for any claim based hereon, or
otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator or against any past, present or future stockholder, officer or member of the Board of Directors, as such, of the
Company, whether by virtue of any constitution, state or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof,
expressly waived and released. 
 This Note shall be governed by and deemed to be a contract made under, and construed in accordance with,
the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of the State of New York without regard to conflicts of law principles thereof. 

All terms used in this Note which are defined in the Indenture and not defined herein shall have the meaning assigned to them in the
Indenture. 
 This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until the
certificate of authentication on the face hereof is manually signed by the Trustee. 

  
 A-4 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed by the manual or
facsimile signatures of the Senior Vice President – Finance and Chief Financial Officer and the Vice President – Investor Relations and Treasurer of the Company, and a facsimile of its corporate seal to be affixed or reproduced hereon.

  

			
	KANSAS CITY POWER & LIGHT COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

 (SEAL) 

 

			
	By:	 	  

	Name:	 	
	Title:	 	

Dated:                     

 

	
	ATTEST:
	
	   

  

			
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	This is one of the Notes of the series designated herein issued under the Indenture described herein.
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	as Trustee
		
	By:	 	  

		 	      Authorized Signatory

Dated:                     

  
 A-5

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