Document:

Supplemental Indenture

 EXHIBIT 4.1 

RECORDING REQUESTED BY RECORDED MAIL TO: 

U.S. BANK NATIONAL ASSOCIATION 

633 W. FIFTH STREET,
24th FLOOR 

LOS ANGELES, CA 90071 

ATTN: CORPORATE TRUST SERVICES 

Index as a UCC Filing and an Indenture 

This is a Security Agreement and a Mortgage of Chattels 

as well as a Mortgage of Real Estate and Other Property 

FIFTY-SEVENTH SUPPLEMENTAL INDENTURE 

FROM 

SAN DIEGO GAS & ELECTRIC COMPANY 

TO 

U.S. BANK NATIONAL ASSOCIATION 

**************** 

Dated as of August 26, 2010 

 TABLE OF CONTENTS* 

 

					
	 	  	Page
	Parties	  	1
	Recitals	  	l
	Granting Clauses	  	7
	Exceptions from Lien	  	7
	 Habendum Clause
	  	7
	
	ARTICLE I
	
	SERIES III BONDS
			
	Section 1.	  	Creation of Bonds of Series III, due 2040	  	8
	Section 2.	  	Authorization and Delivery of Bonds	  	9
	Section 3.	  	Issuable as Fully Registered Bonds; Form of Bond	  	9
	Section 4.	  	Global Securities	  	9
	Section 5.	  	Other Provisions and Endorsements	  	11
	Section 6.	  	Exchangeability of Series III Bonds, due 2040	  	11
	Section 7.	  	Offices or Agencies for Payment, Registration, Transfer and Exchange	  	11
	Section 8.	  	Certain Conditions as to Transfer	  	11
	
	ARTICLE II
	
	MISCELLANEOUS PROVISIONS
			
	Section 1.	  	This Indenture Supplemental to Indenture of July 1, 1940	  	11
	Section 2.	  	Defined Terms	  	11
	Section 3.	  	Counterparts	  	11
	Section 4.	  	Provisions Binding on Successors and Assigns	  	11
	Section 5.	  	Conflicting Provisions	  	11
	Section 6.	  	Governing Law	  	12
		
	 Signatures and Attestation
	  	13

  

	*	For convenience only and not part of the Fifty-Seventh Supplemental Indenture 

 THIS FIFTY-SEVENTH SUPPLEMENTAL INDENTURE IS A SECURITY 

AGREEMENT AND A MORTGAGE OF CHATTELS AS WELL AS 

A MORTGAGE OF REAL ESTATE AND OTHER PROPERTY 

THIS FIFTY-SEVENTH SUPPLEMENTAL INDENTURE, dated as of the twenty-sixth day of August 2010, by and between SAN DIEGO GAS &
ELECTRIC COMPANY, a corporation duly organized and existing under and by virtue of the laws of the State of California, having its principal office in that State in the City of San Diego (the “Company”), and U.S. BANK NATIONAL
ASSOCIATION, a banking association duly organized under an act known as the “National Bank Act,” of the United States of America, having a corporate trust office in the City of Los Angeles, State of California, as Trustee (the
“Trustee”). 
 WHEREAS, the Company executed and delivered a Mortgage and Deed of Trust
(the “Original Indenture”), dated July 1, 1940, to The Bank of California, National Association, as predecessor trustee to Bankers Trust Company of California, National Association, as predecessor trustee to First Trust of
California, National Association, (subsequently renamed U.S. Bank Trust National Association) as predecessor trustee to the Trustee, to secure payment of the principal of and the interest on all bonds of the Company at any time outstanding
thereunder according to their tenor and effect, and to provide the terms and provisions with respect to its First Mortgage Bonds,
3 3/8% Series due July 1, 1970, issued in the
aggregate principal amount of $16,000,000 and heretofore retired; and 
 WHEREAS, the Company
executed and delivered to the then current trustee, a First Supplemental Indenture dated as of December 1, 1946, a Second Supplemental Indenture dated as of March 1, 1948, a Third Supplemental Indenture dated as of April 1, 1952, a
Fourth Supplemental Indenture dated as of April 1, 1954, a Fifth Supplemental Indenture dated as of October 1, 1955, a Sixth Supplemental Indenture dated as of October 1, 1957, a Seventh Supplemental Indenture dated as of
October 1, 1960, an Eighth Supplemental Indenture dated as of March 1, 1967, a Tenth Supplemental Indenture dated as of December 1, 1968, an Eleventh Supplemental Indenture dated as of February 1, 1970, a Twelfth Supplemental
Indenture dated as of September 1, 1971, a Thirteenth Supplemental Indenture dated as of January 15, 1974, a Fourteenth Supplemental Indenture dated as of December 15, 1974, a Fifteenth Supplemental Indenture dated as of May 1,
1975, a Seventeenth Supplemental Indenture dated as of July 15, 1976, an Eighteenth Supplemental Indenture dated as of March 15, 1977, a Nineteenth Supplemental Indenture dated as of May 1, 1978, a Twentieth Supplemental Indenture
dated as of March 15, 1980, a Twenty-First Supplemental Indenture dated as of August 1, 1980, a Twenty-Second Supplemental Indenture dated as of July 15, 1981, a Twenty-Third Supplemental Indenture dated as of January 15, 1982, a
Twenty-Fourth Supplemental Indenture dated as of August 16, 1982, a Twenty-Fifth Supplemental Indenture dated as of August 16, 1982, a Twenty-Sixth Supplemental Indenture dated as of August 16, 1982, a Twenty-Seventh Supplemental
Indenture dated as of June 2, 1983, a Twenty-Eighth Supplemental Indenture dated as of July 15, 1983, a Twenty-Ninth Supplemental Indenture dated as of September 1, 1983, a Thirty-First, Supplemental Indenture dated as of May 1,
1984, a Thirty-Second Supplemental Indenture dated as of December 1, 1984, a Thirty-Third Supplemental Indenture dated as of September 1, 1985, a Thirty-Fourth Supplemental Indenture dated as of December 1, 1985, a Thirty-Fifth
Supplemental Indenture dated as of July 1, 1986, a Thirty-Sixth Supplemental Indenture dated as of December 1, 1986, a Thirty-Seventh Supplemental Indenture dated as of September 1, 1987, a Thirty-Eighth Supplemental Indenture dated
as of April 15, 1990, a Thirty-Ninth Supplemental Indenture dated as of December 1, 1991, a Fortieth Supplemental Indenture dated as of April 1, 1992, a Forty-First Supplemental Indenture dated as of June 15, 1992, a Forty-Second
Supplemental Indenture dated as of September 1, 1992, a Forty-Third Supplemental Indenture dated as of December 1, 1992, a Forty-Fourth Supplemental Indenture dated as of April 1, 1993, a Forty-Fifth Supplemental Indenture dated as of
June 1, 1993, a Forty-Sixth Supplemental Indenture dated as of July 1, 1993, a Forty-Seventh Supplemental Indenture dated as of June 1, 1995, a Forty-Eighth Supplemental Indenture dated as of June 1, 1995, a Forty-Ninth
Supplemental Indenture dated as of June 1, 2004, a Fiftieth Supplemental Indenture dated as of May 19, 2005, a Fifty-First Supplemental Indenture dated as of November 17, 2005, a Fifty-Second Supplemental Indenture dated as of
June 8, 2006, a Fifty-Third Supplemental Indenture dated as of September 1, 2006, a Fifty-Fourth Supplemental Indenture dated as of September 20, 2007, a Fifty-Fifth Supplemental Indenture dated as of May 14, 2009, and a
Fifty-Sixth Supplemental Indenture dated as of May 13, 2010, whereby, among other things, the Company set forth certain of the particulars of the Bonds of series designated “First Mortgage Bonds,
2 3/4% Series due December 1, 1981” issued
in the aggregate principal amount of $2,800,000, “First Mortgage Bonds, Series C due 1978” issued in the aggregate principal amount of $10,000,000, 

 

 1 

 
“First Mortgage Bonds, Series D due 1982” issued in the aggregate principal amount of $512,000,000, “First Mortgage Bonds, Series E due 1984” issued in the aggregate principal
amount of $17,000,000, “First Mortgage Bonds, Series F due 1985” issued in the aggregate principal amount of $18,000,000, “First Mortgage Bonds, Series G due 1987” issued is the aggregate principal amount of $12,000,000,
“First Mortgage Bonds, Series H due 1990” issued in the aggregate principal amount of $30,000,000, “First Mortgage Bonds, Series I due 1997” issued in the aggregate principal amount of $25,000,000, “First Mortgage Bonds,
Series J due 1998” issued in the aggregate principal amount of $35,000,000, “First Mortgage Bonds, Series K due 2000” issued in the aggregate principal amount of $40,000,000, “First Mortgage Boards, Series L due 2001” issued
in the aggregate principal amount of $45,000,000, “First Mortgage Bonds, Series M due 2004” issued in the aggregate principal amount of $75,000,000, “First Mortgage Bonds, Series N due 1979” issued in the aggregate principal
amount of $50,000,000, “First Mortgage Bonds, Series O due 1982” issued in the aggregate principal amount of $40,000,000, “First Mortgage Bonds, Series P due 2006” issued in the aggregate principal amount of $45,000,000,
“First Mortgage Bonds, Series Q due 2007” issued in the aggregate principal amount of $50,000,000, “First Mortgage Bonds, Series R due 2008” issued in the aggregate principal amount of $50,000,000, “First Mortgage Bonds,
Series S due 2010” issued in the aggregate principal amount of $50,000,000, “First Mortgage Bonds, Series T due 2010” issued in the aggregate principal amount of $75,000,000, “First Mortgage Bonds, Series U-1 due 1984, and U-2
due 1994” issued in the aggregate principal amount of $6,567,000 for Series U-1 and $13,268,000 for Series U-2, “First Mortgage Bonds, Series V due 2011” issued in the aggregate amount of $50,000,000, “First Mortgage Bonds,
Series W due 1988” issued in the aggregate principal amount of $40,000,000, “First Mortgage Bonds, Series X due 1987” issued in the aggregate principal amount of $20,000,000, “First Mortgage Bonds, Series Y due 1987” issued
in the aggregate principal amount of $15,000,000, “First Mortgage Bonds, Series Z, due 2013” issued in the aggregate principal amount of $65,000,000, “First Mortgage Bonds, Series AA, due 2018” issued in the aggregate principal
amount of $150,000,000, “First Mortgage Bonds, Series BB, due 2018” issued in the aggregate principal amount of $150,000,000, “First Mortgage Bonds, Series CC, due 2008” issued in the aggregate principal amount of $53,000,000,
“First Mortgage Bonds Series DD, due 2008” issued in the aggregate principal amount of $27,000,000, “First Mortgage Bonds, Series EE, due 2015” issued in the aggregate principal amount of $100,000,000, “First Mortgage Bonds,
Series FF, due 2007” issued in the aggregate principal amount of $35,000,000, “First Mortgage Bonds, Series GG, due 2021” issued in the aggregate principal amount of $44,250,000, “First Mortgage Bonds, Series HH, due 2021”
issued in the aggregate principal amount of $381,350,000, “First Mortgage Bonds, Series II due 2023” issued in the aggregate principal amount of $25,000,000, “First Mortgage Bonds, Series JJ, due 2015” issued in aggregate
principal amount of $100,000,000, “First Mortgage Bonds, Series KK, due 2015” issued in the aggregate principal amount of $14,400,000, “First Mortgage Bonds, Series LL, due 2022” issued in the aggregate principal amount of
$60,000,000, “First Mortgage Bonds, Series MM due 2002” issued in the aggregate principal amount of $80,000,000, “First Mortgage Bonds, Series NN” issued in the aggregate principal amount of $118,615,000, “First Mortgage
Bonds, Series OO” issued in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series PP, due 2018” issued in the aggregate principal amount of $70,795,000, “First Mortgage Bonds, Series QQ, due 2018”
issued in the aggregate principal amount of $14,915,000, “First Mortgage Bonds, Series RR, due 2021” issued in the aggregate principal amount of $60,000,000, “First Mortgage Bonds, Series SS, due 2018” issued in the aggregate
principal amount of $92,945,000, “First Mortgage Bonds, Series TT due 2020” issued in the aggregate principal amount of $57,650,000, “First Mortgage Bonds, Series UU due 2020” issued in the aggregate principal amount of
$16,700,000, “First Mortgage Bonds, Series VV due 2034” issued in the aggregate principal amount of $43,615,000, “First Mortgage Bonds, Series WW due 2034” issued in the aggregate principal amount of $40,000,000, “First
Mortgage Bonds, Series XX due 2034” issued in the aggregate principal amount of $35,000,000, “First Mortgage Bonds, Series YY due 2034” issued in the aggregate principal amount of $24,000,000, “First Mortgage Bonds, Series ZZ due
2034” issued in the aggregate principal amount of $33,650,000, “First Mortgage Bonds, Series AAA due 2039” issued in the aggregate principal amount of $75,000,000, “First Mortgage Bonds, Series BBB due 2035” issued in the
aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series CCC due 2015” issued in the aggregate principal amount of $250,000,000, “First Mortgage Bonds, Series DDD due 2026” issued in the aggregate principal
amount of $250,000,000, “First Mortgage Bonds, Series EEE due 2018” issued in the aggregate principal amount of $161,240,000, “First Mortgage Bonds, Series FFF due 2037” issued in the aggregate principal amount of $250,000,000,
“First Mortgage Bonds, Series GGG due 2039” issued in the aggregate principal amount of $300,000,000 and “First Mortgage Bonds, Series HHH due 2040” issued in the aggregate principal amount of $250,000,000, respectively, all of
which First Mortgage Bonds have heretofore been retired or redeemed, except the Series KK due 2015, the Series OO, the Series RR due 2021, the Series VV due 2034, the Series WW due 2034, the Series XX due 2034, the Series YY due 2034, the Series ZZ
due 2034, the Series AAA due 2039, the Series BBB due 2035, the Series CCC due 2015, the Series DDD due 2026, the Series EEE due 2018, the Series FFF due 2037, the Series GGG due 2039 and the Series HHH due 2040, which are presently issued and
outstanding; and 
  

 2 

 WHEREAS, certain of the provisions of the Original Indenture have been amended by the
aforesaid Second and Tenth Supplemental Indentures, a Ninth Supplemental Indenture dated as of August 1, 1968, a Sixteenth Supplemental Indenture dated August 28, 1975, and a Thirtieth Supplemental Indenture dated September 23, 1983;
and 
 WHEREAS, the Original Indenture and each of said Supplemental Indentures have been recorded in the Official Records of
the Recorders of the Counties of San Diego, Orange, Riverside, and Imperial in the State of California and the Counties, Yuma and Maricopa in the State of Arizona, as follows: 

 

											
	 	  	 	  	 Counties of

	 Document
	  	 Official Records
	  	 San Diego
	  	 Orange
	  	 Riverside
	  	 Imperial

	 Original

Indenture
	  	 Book
 Page

Date
	  	 1087
 1

Oct. 10, 1940
	  	 1062
 300

Oct. 10, 1940
	  	 1765
 364

July 13, 1955
	  	 1369
 232

Nov. 22, 1974

						
	 First
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 2321
 48

Jan. 2, 1947
	  	 1506
 472

Jan. 9, 1947
	  	 1765
 499

July 13, 1955
	  	 1369
 332

Nov. 22, 1974

						
	 Second
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 2537
 363

Mar. 16, 1948
	  	 1616
 190

Mar. 15, 1948
	  	 1765
 448

July 13, 1955
	  	 1369
 343

Nov. 22, 1974

						
	 Third
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 4424
 535

Apr. 3, 1952
	  	 2311
 116

Apr. 3, 1952
	  	 1765
 475

July 13, 1955
	  	 1369
 370

Nov. 22, 1974

						
	 Fourth
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 5193
 217

Apr. 2, 1954
	  	 2701
 153

Apr. 2, 1954
	  	 1765
 336

July 13, 1955
	  	 1369
 409

Nov. 22, 1974

						
	 Fifth
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 5893
 291

Dec. 5, 1955
	  	 3304
 205

Dec. 5, 1955
	  	 1829
 3

Dec. 5, 1955
	  	 2369
 456

Nov. 22, 1974

						
	 Sixth
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 6829
 390

Nov. 12, 1957
	  	 4099
 109

Nov. 12, 1957
	  	 2175
 538

Nov. 12, 1957
	  	 1369
 492

Nov. 22, 1974

						
	 Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 1960 Series 1
 File No.
202061
 Oct. 10, 1960
	  	 5455
 385

Oct. 10, 1960
	  	 2780
 3

Oct. 10, 1960
	  	 1369
 541

Nov. 22, 1974

						
	 Eighth
 Supplemental

Indenture
	  	 Book
 Page

Date
	  	 1967 Series 8
 File No.
33860
 Mar. 13, 1967
	  	 8197
 129

Mar. 13, 1967
	  	 Endorsement
 No.
20925
 Mar. 13, 1967
	  	 1369
 618

Nov. 22, 1974

						
	 Ninth
 Supplemental

Indenture
	  	 Book
 Page

Doc. No.
 Date
	  	 1968 Series 9
  

138926
 Aug. 14, 1968
	  	 8691
 69

9816
 Aug. 14, 1968
	  	 78781
 Aug. 14,
1968
	  	 1369
 694

 
 Nov. 22,
1974

  

 3 

											
						
	 Tenth
 Supplemental

Indenture
	  	 Book
 Page

Doc. No.
 Date
	  	 1968 Series 9
  

215131
 Dec. 9, 1968
	  	 8810
 375

 
 Dec. 9, 1968
	  	 Endorsement
 No.
119982
  
 Dec. 9, 1968
	  	 1369
 706

 
 Nov. 22, 1974

						
	 Eleventh

Supplemental
 Indenture
	  	 Book
 Page

Doc. No.
 Date
	  	 1970
  

27782
 Feb. 16, 1970
	  	 9217
 516

 
 Feb. 16, 1970
	  	 Endorsement
 No.
14780
  
 Feb. 16, 1970
	  	 1369
 725

 
 Nov. 22, 1974

						
	 Twelfth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
212688
 Sept. 20, 1971
	  	 9810
 539

Sept. 20, 1971
	  	 Endorsement
 No.
106508
 Sept. 20, 1971
	  	 1369
 744

Nov. 22, 1974

						
	 Thirteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 74-006878

 Jan. 10, 1974
	  	 11055
 1

Jan. 10, 1974
	  	 Endorsement
 No.
3853
 Jan. 10, 1974
	  	 1369
 763

Nov. 22, 1974

						
	 Fourteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 74-322156

 Dec. 11, 1974
	  	 11303
 458

Dec. 11, 1974
	  	 Endorsement
 No.
157219
 Dec. 11, 1974
	  	 1369
 1689

Dec. 11, 1974

						
	 Fifteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 755-108612

 May 7, 1975
	  	 11395
 1879

May 7, 1975
	  	 Instrument
 No.
52617
 May 7, 1975
	  	 1374
 809

May 7, 1975

						
	 Sixteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 75-235624

 Sept. 2, 1975
	  	 11500
 1620

Sept. 2, 1975
	  	 Instrument
 No.
107732
 Sept. 3, 1975
	  	 1378
 952

Sept. 2, 1975

						
	 Seventeenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 76-224493

 July 16, 1976
	  	 11815
 640

July 16, 1976
	  	 Instrument
 No.
103484
 July 16, 1976
	  	 1389
 687

July 16, 1976

						
	 Eighteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 77-100483

 Mar. 18, 1977
	  	 12110
 58

Mar. 18, 1977
	  	 Instrument
 No.
45619
 Mar. 18, 1977
	  	 1398
 1675

Mar. 18, 1977

						
	 Nineteenth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 78-194210

 May 12, 1978
	  	 12672
 1803-1822

May 12, 1978
	  	 Instrument
 No.
94450
 May 12, 1978
	  	 1415
 1638

May 12, 1978

						
	 Twentieth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 80-082569

 Mar. 11, 1980
	  	 13530
 722

Mar. 11, 1980
	  	 Instrument
 No.
47195
 Mar. 11, 1980
	  	 1448
 1221

Mar. 11, 1980

						
	 Twenty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 80-245100

 Aug. 1, 1980
	  	 13687
 349

Aug. 1, 1980
	  	 Instrument
 No.
139349
 Aug. 1, 1980
	  	 1455
 1660

Aug. 1, 1980

						
	 Twenty-Second
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
81-22576
 July 17, 1981
	  	 Instrument
 No.
24605
 July 17, 1981
	  	 Instrument
 No.
135815
 July 17, 1981
	  	 1472
 508

July 17, 1981

						
	 Twenty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No.
82-02387
 Jan. 27, 1982
	  	 Instrument
 No. 82-031423

 Jan. 27, 1982
	  	 Instrument
 No.
16093
 Jan. 27, 1982
	  	 1479
 1714

Jan. 27, 1982

						
	 Twenty-Fourth
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 82-257258

 Aug. 19, 1982
	  	 File/Page
 No. 82-291894

 Aug. 19, 1982
	  	 File/Page
 No. 82/143370212

 Aug. 19, 1982
	  	 1489
  

Aug. 19, 1982

						
	 Twenty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 82-257259

 Aug. 19, 1982
	  	 File/Page
 No. 82-291895

 Aug. 19, 1982
	  	 File/Page
 No. 82-143371

 Aug. 19, 1982
	  	 1489
 236

Aug. 19, 1982

  

 4 

											
						
	 Twenty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 82-257260

 Aug. 19, 1982
	  	 File/Page
 No. 82-291896

 Aug. 19, 1982
	  	 File/Page
 No. 82/143372260

 Aug. 19, 1982
	  	 1489
  

Aug. 19, 1982

						
	 Twenty-Seventh
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 83-200545

 June 15, 1983
	  	 File/Page
 No. 83-253901

 June 15, 1983
	  	 File/Page
 No.
118670
 June 15, 1983
	  	 1503
 743

June 15, 1983

						
	 Twenty-Eighth
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 83-252396

 July 22, 1983
	  	 File/Page
 No. 83-316224

 July 22, 1983
	  	 File/Page
 No.
147671
 July 22, 1983
	  	 1505
 583

July 22, 1983

						
	 Twenty-Ninth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 No. 83-339007

 Sept. 22, 1983
	  	 File/Page
 No. 83-417956

 Sept. 22, 1983
	  	 File/Page
 194083

Sept. 22, 1983
	  	 1508
 1425

Sept. 22, 1983

					
	 	  	 	  	 Counties of
	  	 	  	 
	Thirtieth	  	 Official Records
	  	 Yuma
	  	 Maricopa
	  	 	  	 
	 Supplemental

Indenture

Consisting of

Original and

Twenty-Nine

Supplemental

Indentures thereto
	  	 Book
 Page

Book
 Page

Date
	  	 Docket 1352

272-1002
 Docket 1353

1-264
 Sept. 28, 1983
	  	 File No.
 83-399354

 
  
 Oct. 3, 1983

	  		  	

  

															
	 	  	 	  	 Counties of

	 Document
	  	 Official
Records
	  	 San Diego
	  	 Orange
	  	 Riverside
	  	 Imperial
	  	 Yuma
	  	 Maricopa

	 Thirty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

84-161897
 5/2/84
	  	 File/Page

84-180870
 5/2/84
	  	 File/Page
 92011

5/2/84
	  	 1520
 1552

4/30/84
	  	 Docket 1382

743-761
 4/30/84
	  	 File No.

84-186813
 5/2/84

								
	 Thirty-Second
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page

84-466428
 12/14/84
	  	 File/Page

84-517843
 12/14/84
	  	 File/Page
 267452

12/14/84
	  	 1533
 753

12/14/84
	  	 Docket 1413

216-235
 12/14/84
	  	 File No.

84-537706
 12/14/84

								
	 Thirty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

85-323210
 9/4/85
	  	 File/Page

85-333505
 9/4/85
	  	 File/Page
 198810

9/4/85
	  	 1546
 708

9/4/85
	  	 Docket 1450
 816

9/4/85
	  	 File No.

85-418309
 9/4/85

								
	 Thirty-Fourth
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page

85-42465
 12/2/85
	  	 File/Page

85-481794
 12/2/85
	  	 File/Page
 270136

12/2/85
	  	 1550
 1573

12/3/85
	  	 Docket 1463
 215

12/3/85
	  	 File No.

85-568874
 12/2/85

								
	 Thirty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

86-279922
 7/8/86
	  	 File/Page

86-290957
 7/8/86
	  	 File/Page
 158161

7/8/86
	  	 1562
 549

7/8/86
	  	 Docket 1491

639-657
 7/8/86
	  	 File No.

86-347412
 7/8/86

								
	 Thirty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

86-576027
 12/10/86
	  	 File/Page

86-606666
 12/10/86
	  	 File/Page
 314771

12/10/86
	  	 1571
 240

12/10/86
	  	 Docket 1512
 5-24

12/10/86
	  	 File/Page

86-680502
 12/10/86

								
	 Thirty-Seventh
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page

87-532270
 9/21/87
	  	 File/Page

87-530266
 9/21/87
	  	 File/Page
 273181

9/21/87
	  	 1588
 844

9/21/87
	  	 Docket 1555
 844

9/21/87
	  	 File/Page

87-585903

9/21/87

 

 5 

															
								
	 Thirty-Eighth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 90-217585

 4/23/90
	  	 File/Page
 90-212277

 4/23/90
	  	 File/Page
 146794

 4/23/90
	  	 1646
 1280

4/23/90
	  	 Docket 1686
 92-120

 4/23/90
	  	 File/Page
 88-176460

 4/23/90

								
	 Thirty-Ninth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 91-632073

 12/09/91
	  	 File/Page
 91-674397

 12/09/91
	  	 File/Page
 425578

 12/09/91
	  	 1687
 743

12/09/91
	  	 Docket 1771
 711-728

 12/09/91
	  	 File/Page
 91-0574751

 12/09/91

								
	 Fortieth
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 92-185636

 4/1/92
	  	 File/Page
 92-202372

 4/1/92
	  	 File/Page
 115201

 4/1/92
	  	 Book/Page
 92-06577

 4/1/92
	  	 Docket 1790
 954-970

 4/1/92
	  	 File/Page
 92-0169646

 4/1/92

								
	 Forty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 92-0363471

 6/11/92
	  	 File/Page
 92-393790

 6/11/92
	  	 File/Page
 214904

 6/11/92
	  	 Book/Page
 92-011833

 6/11/92
	  	 Docket 1804
 73-88

 6/11/92
	  	 File/Page
 92-0317072

 6/11/92

								
	 Forty-Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 92-0650893

 10/13/92
	  	 File/Page
 92-692066

 10/13/92
	  	 File/Page
 384167

 10/13/92
	  	 Book/Page
 92-21988

 10/13/92
	  	 Docket 1824
 670-689

 10/13/92
	  	 File/Page
 92-0575062

 10/13/92

								
	 Forty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 92-0788665

 12/9/92
	  	 File/Page
 92-845626

 12/10/92
	  	 File/Page
 471625

 12/10/92
	  	 Book/Page
 92-27082

 12/9/92
	  	 Docket 1834
 187-206

 12/9/92
	  	 File/Page
 92-0700568

 12/9/92

								
	 Forty-Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 93-0257065

 4/27/93
	  	 File/Page
 93-0277892

 4/27/93
	  	 File/Page
 153382

 4/27/93
	  	 Book/Page
 93-009487

 4/27/93
	  	 Docket 1859
 Fee
09300
 4/27/93
	  	 File/Page
 93-0246725

 4/26/93

								
	 Forty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 93-0395609

 6/23/93
	  	 File/Page
 93-0420127

 6/23/93
	  	 File/Page
 239922

 6/23/93
	  	 Book/Page
 93-14224

 6/23/93
	  	 Docket
 Fee 14413

 6/23/93
	  	 File/Page
 93-0403060

 6/23/93

								
	 Forty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 93-0474705

 7/26/93
	  	 File/Page
 93-0496100

 7/26/93
	  	 File/Page
 288868

 7/27/93
	  	 Book/Page
 93-17399

 7/27/93
	  	 Docket
 Fee 17163

 7/27/93
	  	 File/Page
 93-0487598

 7/27/93

								
	 Forty-Seventh

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 95-0230457

 6/01/95
	  	 File/Page
 95-0232951

 6/01/95
	  	 File/Page
 175604

 6/01/95
	  	 Book/Page
 95-11739

 6/01/95
	  	 Docket

246-264
 6/01/95
	  	 File/Page
 95-0313576

 6/01/95

								
	 Forty-Eighth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page
 95-0230458

 6/01/95
	  	 File/Page
 95-0232952

 6/01/95
	  	 File/Page
 175605

 6/01/95
	  	 Book/Page
 95-11740

 6/01/95
	  	 Docket

265-284
 6/01/95
	  	 File/Page
 95-0343577

 6/01/95

								
	 Forty-Ninth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

05-00384477
 1/14/05
	  	 File/Page
 04-683110

 7/28/04
	  	 File/Page
 04-0766976

 9/28/04
	  	 Book/Page
 04-021901

 7/15/04
	  	 Docket

04-29663
 8/16/04
	  	 File/Page
 04-941699

 8/13/04

								
	 Fiftieth
 Supplemental

 Indenture
	  	 Book
 Page

Date
	  	 File/Page

20050441722
 5/25/05
	  	 File/Page

2005000405730
 5/26/05
	  	 File/Page

20050145832
 5/25/05
	  	 Book/Page
 019964

 5/25/05
	  	 Docket
 200522373

 5/25/05
	  	 File/Page

20050711918
 5/27/05

								
	 Fifty-First

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

20051016267
 11/23/05
	  	 File/Page

2005000945695
 11/28/05
	  	 File/Page

20050981667
 11/29/05
	  	 Book/Page
 2006005449

 1/30/06
	  	 Docket
 200553032

 12/2/05
	  	 File/Page

20051852692
 12/7/05

								
	 Fifty-Second

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2006-0413693
 6/12/06
	  	 File/Page

2006000404447
 6/16/06
	  	 File/Page

2006-0422620
 6/12/06
	  	 Book/Page

2006-032418
 7/11/06
	  	 Docket
 2006-23999

 6/12/06
	  	 File/Page

2006-0802735

6/14/06

 

 6 

															
								
	 Fifty-Third

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2006-0683713
 9/26/06
	  	 File/Page

2006000643109
 9/27/06
	  	 File/Page
 713252

 9/27/06
	  	 Book/Page
 06-46145

 9/28/06
	  	 Docket
 2006-39635

 9/29/06
	  	 File/Page

20061310143
 10/3/06

								
	 Fifty-Fourth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2007-0625504
 9/25/07
	  	 File/Page

2007000581227
 9/25/07
	  	 File/Page

2007-0600369
 9/25/07
	  	 Book/Page

2007-036497
 9/25/07
	  	 Docket
 2007-33238

 9/25/07
	  	 File/Page

2007-1062404
 9/26/07

								
	 Fifty-Fifth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2009-0320954
 6/12/09
	  	 File/Page

2009000305886
 6/12/09
	  	 File/Page

2009-0311041
 6/18/09
	  	 Book/Page

2009-017587
 6/12/09
	  	 Docket

16744
 6/15/09
	  	 File/Page

20090542104
 6/15/09

								
	 Fifty-Sixth

Supplemental
 Indenture
	  	 Book
 Page

Date
	  	 File/Page

2010-0252569
 5/20/10
	  	 File/Page

2010000239342
 5/21/10
	  	 File/Page

2010-0235807
 5/21/10
	  	 Book/Page

2010-012850
 5/21/10
	  	 Docket
 2010-12687

 5/21/10
	  	 File/Page

20100431348
 5/21/10

WHEREAS, the Board of Directors of the Company has duly authorized the creation of an additional series of bonds to be designated
“First Mortgage Bonds, Series III, due 2040,” as hereinafter set forth in this Fifty-Seventh Supplemental Indenture; and 

WHEREAS, the execution and delivery of this Fifty-Seventh Supplemental Indenture has been duly authorized by resolution of the Board of
Directors of the Company; and 
 WHEREAS, all the conditions and requirements necessary to make this Fifty-Seventh Supplemental
Indenture a valid, binding and legal instrument in accordance with its terms and for the purposes herein expressed have been performed and fulfilled and the execution and delivery hereof have been in all respects duly authorized. 

NOW, THEREFORE, in order further to secure the payment of the principal of and interest on all of the bonds of the Company at any time
outstanding under the Original Indenture, as from time to time amended and supplemented (the “Indenture”) and to secure the performance and observance of each and every of the covenants and agreements of the Indenture, as from time
to time amended and supplemented, and for and in consideration of the premises, and of the sum of One Dollar ($1.00) to the Company duly paid by the Trustee (the receipt whereof is hereby acknowledged), the Company has executed and delivered this
Fifty-Seventh Supplemental Indenture and has granted, bargained, sold, warranted, released, conveyed, assigned, transferred, mortgaged, pledged, hypothecated, granted a security interest in, set over and confirmed, and by these presents does grant,
bargain, sell, warrant, release, convey, assign, transfer, mortgage, pledge, hypothecate, grant a security interest in, set over and confirm unto U.S. Bank National Association, as Trustee, and to its respective successors in said trust forever,
with power of sale, all property, real, personal and mixed, now owned or hereafter acquired or to be acquired by the Company, and wheresoever situated (except such property as is expressly excepted or excluded from the lien and security interest of
the Indenture, and property of a successor corporation or corporations excluded from the lien and security interest thereof by the provisions of Section 3 of Article XIV thereof) subject to the rights reserved by the Company in and by other
provisions of the Indenture, including in the property subject and to be subject to the lien and security interest thereof and hereof (without in any manner limiting or impairing by the enumeration of the same scope and intent of the foregoing or of
any general description contained in the Original Indenture or in this or any other supplemental indenture) all lands, rights-of-way, other land rights, flowage and other water rights, power houses, dams, reservoirs, docks, roads, and buildings,
structures and other land improvements; steam, and other electric generating plants, including buildings and other structures, turbines, generators, exciters, boilers and other boiler plant equipment, condensing equipment, and all auxiliary
equipment; stations and substations; electric transmission and distribution systems, including structures, poles, towers, fixtures, conduits, insulators, wires, cables, transformers, services and meters; steam heating plants and systems, including
mains and equipment, gas plants, transmission and distribution systems, including pipe lines, structures, tanks, mains, compressor stations, purifier stations, pressure holders, governors, services and meters; communication systems, office, shop and
other buildings and structures, and equipment; apparatus and equipment and materials and supplies of all other kinds and descriptions; and all municipal and other franchises, leaseholds, licenses, permits, and privileges; 

TOGETHER WITH all and singular the tenements, hereditaments and appurtenances belonging or in any wise appertaining to the aforesaid
property or any part thereof with the reversion and reversions, remainder and remainders, tolls, rents and revenues, issues, income, proceeds, 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 every part and parcel thereof (except such property as is expressly excepted or excluded from the lien and security interest of the Indenture,
and property of a successor corporation or corporations excluded from the lien and security thereof by the provisions of Section 3 of Article XIV thereof), subject to the rights reserved by the Company in and by other provisions of the
Indenture; 
  

 7 

 It is hereby agreed by the Company that, except as aforesaid, all the property, rights, and
franchises acquired by the Company after the date hereof shall be as fully embraced within the lien and security interest hereof as if such property were now owned by the Company and were specifically described herein and conveyed and a security
interest therein granted hereby; 
 SAVING AND EXCEPTING, HOWEVER, anything to the contrary notwithstanding contained herein or
in the granting clauses of the Original Indenture and said Supplemental Indentures (a) such property described or referred to in any of such granting clauses as has been from time to time, released or sold free from the lien and security
interest of the Original Indenture (or the Original Indenture, as supplemented) in accordance and compliance with the provisions thereof (or of the Original Indenture, as supplemented, as the case may be), and (b) all of the following property
(whether now owned by the Company or hereafter acquired by it): (1) all gas, electric energy and steam produced, purchased or otherwise acquired; (2) all contracts, choses in action, shares of stock, bonds, notes, evidences of
indebtedness, and other securities, other than any of the foregoing which maybe required to be deposited from time to time with the Trustee in accordance with the provisions of the Indenture or are required by some express provision thereof to be
deposited with the Trustee; (3) merchandise and appliances at any time acquired for the purpose of sale or lease to customers and others and contracts for the sale of merchandise and appliances; (4) motor vehicles; (5) timber on land
owned by the Company; (6) minerals or mineral rights in lands owned by the Company; (7) oil, coal or gas, or oil, coal or gas rights in land owned by the Company or gas wells or oil wells or equipment therefor or coal mines or equipment
therefor; (8) fuel and other personal property which are consumable in their use in the operation of the properties of the Company; (9) bills and accounts receivable; (10) cash on hand and in banks other than such cash as may be
deposited from time to time with the Trustee in accordance with the provisions of the Indenture or as is required by some express provision thereof to be deposited with the Trustee; and (11) the last day of the term of each leasehold estate now
or hereafter enjoyed by the Company. The Company may, however, expressly subject to the lien and security interest and operation of the Original Indenture and all indentures supplemental thereto all or any part of the property of the character
described in clause (b) of this paragraph; 
 TO HAVE AND TO HOLD all said properties, real, personal and mixed, mortgaged,
pledged, or conveyed and in which a security interest has been granted by the Company as aforesaid, or intended so to be, unto the Trustee and its successors and assigns forever, subject, however, to Permitted Liens as defined in the Indenture;

 IN TRUST NEVERTHELESS, for the equal pro rata benefit and security as provided in the Original Indenture and all indentures
supplemental thereto of all and every of the bonds issued and to be issued in accordance with the provisions of the Original Indenture and all indentures supplemental thereto, without preference, priority or distinction as to lien or security
interest of any over the others by reason of priority in time of the issue, negotiation or maturity thereof, subject, however, to the provisions of the Original Indenture and all indentures supplemental thereto relating to any sinking fund or
similar fund for the benefit of the bonds of any particular series; 
 The Company does further covenant and agree with the
Trustee as follows: 
 ARTICLE I 

SERIES III BONDS 

Section 1: There is hereby created, for issuance under the Original Indenture as supplemented by the said Supplemental
Indentures (including this Fifty-Seventh Supplemental Indenture), a series of bonds designated Series III, due 2040, each of which shall bear the descriptive title “First Mortgage Bonds, Series III, due 2040” (herein sometimes referred to
as “Series III Bonds”), and the form thereof shall contain suitable provisions with respect to the matters hereinafter in this Section specified. The Series III Bonds shall mature on August 15, 2040 and shall be issued in
denominations of $1,000 and integral multiples thereof as the Company may from time to time execute and deliver. The Series III Bonds shall bear interest at the rate and from the date, shall be expressed to mature as to principal, and shall be
payable as to principal and interest at such place or places and in such money, all as provided in the form of Series III Bond set forth on Exhibit A hereto (the “Form of Bond”) and by the applicable provisions of the
Indenture. 
  

 8 

 
In addition, August 26, 2010 shall be an Interest Payment Date for the Series III Bonds for purposes of Section 9 of Article II of the Indenture, provided that no interest shall
be payable on such date. Both the principal and interest on the Series III Bonds shall be payable at the corporate trust office of the Trustee in the City and County of San Francisco, State of California. The Series III Bonds shall be dated as in
Section 9 of Article II of the Indenture provided with respect to registered bonds without coupons. 
 The Series III Bonds
shall further be redeemable, exchangeable, transferable and otherwise have the terms set forth in the Form of Bond. 
 The
Series III Bonds shall otherwise be of such terms, provisions, tenor and form as provided in this Fifty-Seventh Supplemental Indenture. 

Section 2: The Series III Bonds shall be executed, authenticated and delivered in accordance with the provisions and shall be
entitled to the protection and security, of the Original Indenture supplemented by this Fifty-Seventh Supplemental Indenture and the other supplemental indentures, and shall be subject to all of the terms, conditions and covenants and limitations
thereof. The aggregate principal amount of the Series III Bonds, which may be executed by the Company and authenticated and delivered by the Trustee and secured by the Indenture as from time to time in effect, is limited only to the extent provided
in Section 1 of Article II of the Original Indenture. 
 Section 3: The Series III Bonds shall be issued only
as fully registered bonds without coupons. The fully registered bonds without coupons and the certificate of authentication to be endorsed on all Series III Bonds shall be substantially in the form set forth on the Form of Bond. In addition, the
Series III Bonds may be issuable in whole or in part in the form of one or more securities that evidences all or part of the bonds of such series which is issued to a depository or a nominee thereof for such series (a “Global
Security”) and, in such case, the Board of Directors of the Company shall appoint a clearing agency registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), designated to act as depositary (a
“depositary”) for such Global Securities. The definitive Series III Bonds shall be numbered in such manner as the Company shall at any time or from time to time determine. 

Section 4: In the event the Series III Bonds are issued as a Global Security the following provisions, in addition to the
provisions of the Indenture, shall apply: 
 (1) Each Global Security authenticated under the Indenture shall be
registered in the name of the depositary designated for such Global Security or a nominee thereof and delivered to such depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single bond for all
purposes of this Supplemental Indenture. 
 (2) Notwithstanding any other provision in this Supplemental Indenture, no
Global Security may be exchanged in whole or in part for bonds registered, and no transfer of a Global Security in whole or in part may be registered, in the name of any person other than the depositary for such Global Security or a nominee thereof
unless (A) such depositary has notified the Company that it is unwilling or unable to continue as depositary for such Global Security and a successor depositary has not been appointed by the Company within 90 days of receipt by the Company of
such notification, (B) if at any time the depositary ceases to be a clearing agency registered under the Exchange Act at a time when the depositary is required to be so registered to act as such depositary and no successor depositary shall have
been appointed by the Company within 90 days after it became aware of such cessation, (C) the Company, in its sole discretion, executes and delivers to the Trustee a written order signed in the name of the Company by its Chairman of the Board,
its President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary to the effect that such Global Security, together with all other Global Securities of the same series, shall be exchangeable as
described below, or (D) a “completed default” (as defined in the Indenture) has occurred and is continuing with respect to the Series III Bonds. If any of the events described in clauses (A) through (D) of the preceding
sentence occur, the beneficial owners of interests in the relevant Global Securities will be entitled to exchange those interests for definitive bonds and, without unnecessary delay but in any event not later than the earliest date on which those
interests may be so exchanged, the Company will deliver to the Trustee definitive bonds in such form and denominations as are required by or pursuant to this Indenture, and of the same series, containing identical terms and in an aggregate principal
amount equal to the principal amount of such Global Securities, such bonds to be duly executed by the Company. 
  

 9 

 
On or after the earliest date on which such beneficial interests may be so exchanged, such Global Securities shall be surrendered from time to time by the depositary as shall be specified in the
order from the Company with respect thereto (which the Company agrees to deliver), and in accordance with any instructions given to the Trustee and the depositary (which instructions shall be in writing but need not be contained in or accompanied by
an officers’ certificate or be accompanied by an opinion of counsel), as shall be specified in the order from the Company with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in part,
for definitive bonds as described above without charge. The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered Global Security, a like aggregate principal amount of definitive bonds of the
same series of authorized denominations and of like tenor as the portion of such Global Security to be exchanged. Promptly following any such exchange in part, such Global Security shall be returned by the Trustee to such depositary or its
custodian. If a definitive bond is issued in exchange for any portion of a Global Security after the close of business at the place where such exchange occurs on or after (i) any regular record date for the date the interest is due (the
“Interest Payment Date”) for such bond and before the opening of business at that place of payment on the next Interest Payment Date, or (ii) any special record date for the payment of interest for such bond and before the
opening of business at such place of payment on the related proposed date for the payment of the interest which was not punctually paid or duly provided for on any Interest Payment Date, as the case may be, interest shall not be payable on such
Interest Payment Date or proposed date for payment, as the case may be, in respect of such definitive bond, but shall be payable on the Interest Payment Date or proposed date for payment, as the case may be, only to the person to whom interest in
respect of such portion of such Global Security shall be payable in accordance with the provisions of this Indenture. 

(3) Subject to Clause (2) above, any exchange or transfer of a Global Security for other bonds may be made in whole or in
part, and all bonds issued in exchange for or upon transfer of a Global Security or any portion thereof shall be registered in such names as the depositary for such Global Security shall direct. 

(4) Every bond authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security
or any portion thereof, shall be authenticated and delivered in the form of, and shall be, a Global Security, unless such bond is registered in the name of a person other than the depositary for such Global Security or a nominee thereof. 

(5) Unless otherwise specified as contemplated by Section 1 of Article I of this Supplemental Indenture for the bonds
evidenced thereby, every Global Security authenticated and delivered hereunder shall bear a legend in substantially the following form: 
  

 10 

 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER
THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF HAS
AN INTEREST HEREIN. 
 Section 5: The Series III Bonds may contain or have imprinted thereon such provisions or
specifications not inconsistent with the Indenture as may be required to comply with the rules of any stock exchange or any federal or state authority or commission, or to comply with usage with respect thereto, and may bear such other appropriate
endorsements or notations as are authorized or permitted by the Indenture. 
 Section 6: In the manner and subject
to certain conditions and limitations specified herein and in the Indenture, Series III Bonds may be exchanged without a service charge for a like aggregate principal amount of such Series III Bonds of other authorized denomination or denominations;
provided that the Company may require payment of a sum or sums sufficient to reimburse it for any stamp tax or other governmental charge payable in connection therewith. 

Section 7: The Company shall maintain in the City and County of San Francisco, State of California, and in such other place
or places as the Company may designate at any time or from time to time, an office or agency where Series III Bonds may be presented for payment, registration, transfer and exchange as provided therein or in the Indenture. Such office or agency in
the City and County of San Francisco shall be the corporate trust office of the Trustee unless and until the Company shall designate another office or agency by notice in writing delivered to the Trustee. Notwithstanding the foregoing, if and when
definitive bonds are issued, the Company shall maintain in the Borough of Manhattan, City and County of New York, State of New York, an office or agency where Series III Bonds may be presented for payment, registration, transfer and exchange as
provided therein or in the Indenture. 
 Section 8: No transfer or exchange of any Series III Bonds pursuant to any
of the provisions of this Article I shall be made except upon and in accordance with all of the applicable terms, provisions and conditions of said bonds and of the Indenture. 

ARTICLE II 

MISCELLANEOUS PROVISIONS 

Section 1: This instrument is executed and shall be construed as an indenture supplemental to the Original Indenture and
shall form a part thereof and, as supplemented by this Fifty-Seventh Supplemental Indenture, the Original Indenture as heretofore supplemented and amended is hereby confirmed. 

Section 2: All terms used in this Fifty-Seventh Supplemental Indenture shall be taken to have meaning as in the Original
Indenture, as heretofore supplemented and amended, except terms which may be otherwise expressly defined herein and in cases where the context clearly indicates otherwise. 

Section 3: In order to facilitate the filing of this Fifty-Seventh Supplemental Indenture the same may be executed in several
counterparts each of which, when so executed, shall be deemed to be an original, but such counterparts shall constitute but one and the same instrument. 

Section 4: All of the covenants, stipulations, promises and agreements in this Fifty-Seventh Supplemental Indenture by or on
behalf of the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 5: To the
extent any provision in this Fifty-Seventh Supplemental Indenture conflicts with any provision in the Indenture, the provisions of this Fifty-Seventh Supplemental Indenture shall govern; provided, however, that in the event such
conflict would require bondholder consent, the terms and provisions of the Indenture shall govern. 
  

 11 

 Section 6: The Original Indenture, insofar as it applies to the Series III
Bonds, this Fifty-Seventh Supplemental Indenture and the Series III Bonds shall be governed by and construed in accordance with the laws of the State of California, without regard to conflicts of laws principles thereof. 

{Signature Page Follows} 
  

 12 

 IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this Fifty-Seventh
Supplemental Indenture to be signed in its name and behalf by its duty authorized officer and its corporate seal to be hereunto affixed duly attested by its Secretary or one of its Assistant Secretaries, and U.S. BANK NATIONAL ASSOCIATION, to
evidence its acceptance of the trusts hereby created, has caused this Fifty-Seventh Supplemental Indenture to be signed in its name and behalf by its duly authorized officer as of the day and year first above written. 

 

					
	SAN DIEGO GAS & ELECTRIC COMPANY
		
	By:	 	 /s/ Robert Schlax

		 	Name:	 	Robert Schlax
		 	Title:	 	Vice President, Chief Financial Officer, Controller, Treasurer and Chief Accounting Officer

(CORPORATE SEAL) 
 Attest: 

 

					
	By:	 	 /s/ Jennifer Jett

		 	Name:	 	Jennifer Jett
		 	Title:	 	Secretary

  

					
	U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE
		
	By:	 	 /s/ Fonda Hall

		 	Name:	 	Fonda Hall
		 	Title:	 	Vice President

  

 13 

					
	STATE OF CALIFORNIA	  	)	  	
		  	) ss.:	  	
	COUNTY OF SAN DIEGO	  	)	  	

 On August 24, 2010 before me, Linda M. Baker, Notary Public, personally appeared Robert Schlax
and Jennifer Jett, who proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their
signatures on the instrument the persons, or the entity upon behalf of which the persons acted, executed the instrument. 
 I
certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. 

WITNESS my hand and official seal. 

/s/ Linda M.
Baker                                        
[SEAL] 
  

					
	STATE OF CALIFORNIA	  	)	  	
		  	) ss.:	  	
	COUNTY OF LOS ANGELES	  	)	  	

 On August 25, 2010, before me, Cleveland Styles, a Notary Public, in and for said County and
State, personally appeared Fonda Joy Hall, of U.S. BANK NATIONAL ASSOCIATION, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me
that she executed the same in her authorized capacity, and that by her signature on the instrument the entity upon behalf of which she acted, executed the instrument. 

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

 WITNESS my hand and official seal. 

/s/ Cleveland
Styles                                        
  [SEAL] 
 Supplemental Indenture 

 

 14 

 EXHIBIT A 

FORM OF BOND 

(Attached) 
  

 15 

 [If this bond is issued as a global security, insert the following legend: THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS
SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL, INASMUCH AS THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.] 
 SAN DIEGO
GAS & ELECTRIC COMPANY 
 (INCORPORATED UNDER THE LAWS OF THE STATE OF CALIFORNIA) 

4.50% FIRST MORTGAGE BOND, 

SERIES III, DUE 2040 
  

			
	No.         	  	$            

SAN DIEGO GAS & ELECTRIC COMPANY, a corporation organized and existing under the laws of the State of California (hereinafter
called the “Company”, which term shall include any successor corporation, as defined in the Indenture hereinafter referred to), for value received, hereby promises to pay to
                                         
                    [If this bond is issued as a global security, insert “CEDE & CO.” in the foregoing space] or registered assigns, the
principal sum of
                                         in
lawful money of the United States of America, on the fifteenth day of August, 2040, and to pay interest thereon from the date of this bond, at the rate of 4.50% per annum in like lawful money, payable semi-annually, on the fifteenth day of
February and August in each year, to the holder of record of this bond on the immediately preceding first day of February and August, respectively, commencing February 15, 2011, until the Corporation’s obligation with respect to the
payment of such principal shall be discharged as provided in the Indenture hereinafter mentioned. Both the principal of and interest on this bond will be paid at the corporate trust office of U.S. Bank National Association, or its successor trustee
under said Indenture, in the City and County of San Francisco, State of California [if this bond is a definitive bond, insert: “, or at the office or agency in the Borough of Manhattan, City and County of New York, State of New York, that the
Corporation maintains for such purpose”]. Notwithstanding the foregoing, so long as the holder of this bond is a depositary, or its nominee, payment of the principal of (and premium, if any) and interest on this bond will be made by wire
transfer of immediately available funds. 
 The provisions of this bond are continued following the signature blocks below and
such continued provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This bond
shall not be valid or become obligatory for any purpose unless and until U.S. BANK NATIONAL ASSOCIATION, as Trustee under the Indenture, as amended, or its successor thereunder, shall have signed the certificate of authentication endorsed hereon.

 IN WITNESS WHEREOF, SAN DIEGO GAS & ELECTRIC COMPANY has caused this instrument to
be executed in its name by the signature or facsimile signature of its President or any Vice President and its corporate seal, or a facsimile thereof to be hereto affixed and attested by the signature or facsimile signature of its Secretary or any
Assistant Secretary. 
  

											
	Dated:	 	  
	 		 		 	SAN DIEGO GAS & ELECTRIC COMPANY
						
		 		 		 		 	By:	 	 
		 		 		 		 		 	President or Vice President

 (CORPORATE SEAL) 

 

	
	Attest:
	
	 
	Secretary or Assistant Secretary

 This bond is one of a duly authorized issue of bonds of the Company, known as its First
Mortgage Bonds, of the series and designation indicated on the face hereof (the “Series III Bonds”), all issued and to be issued under and equally secured by a Mortgage and Deed of Trust dated July 1, 1940, and indentures
supplemental thereto, including the Fifty-Seventh Supplemental Indenture dated as of August 26, 2010 (which Mortgage and Deed of Trust, as so supplemented, is herein called the “Indenture”) executed by the Company to U.S. Bank
National Association, as Trustee (herein called the “Trustee”), to which Indenture reference is hereby made for a description of the property mortgaged, pledged, hypothecated and in which a security interest was granted, the nature
and extent of the security, the rights of the holders of the Series III Bonds as to such security, and the terms and conditions upon which the Series III Bonds may be issued under the Indenture and are secured. The principal hereof may be declared
or may become due on the conditions, in the manner and at the time set forth in the Indenture, upon the happening of a completed default as in the Indenture provided. 

Interest on the Series III Bonds will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 

With the consent of the Company and to the extent permitted by and as provided in the Indenture, the rights and obligations of the
Company or of the holders of the Series III Bonds, or the terms and provisions of the Indenture or of any indentures supplemental thereto, may be modified or altered by the affirmative vote of the holders of the percentage of principal amount of
bonds required by the Indenture; provided, however, that without the consent of the holder hereof no such modification or alteration shall permit the reduction of the principal or the extension of the maturity of the principal of this
bond, or the reduction of the rate of interest hereon, or any other modification of the terms of payment of such principal or interest. 

The Company, the Trustee, any paying agent, any registrar, and any depositary may deem and treat the person in whose name this bond is
registered as the absolute owner hereof for the purpose of receiving payment of or on account of the principal hereof and interest hereon and for all other purposes and shall not be affected by any notice to the contrary. 

All or a portion of the Series III Bonds may be redeemed at the Company’s option at any time or from time to time. The price at
which the Series III Bonds will be redeemed (the “Redemption Price”) on the date fixed for such redemption (the “Redemption Date”) will be equal to the greater of the following amounts: (a) 100% of the
principal amount of the Series III Bonds being redeemed on the Redemption Date; or (b) the sum of the present values of the remaining scheduled payments of principal and interest on the Series III Bonds being redeemed on that Redemption Date
(not including any portion of any payments of accrued and unpaid interest to the Redemption Date) discounted to the Redemption Date on a semiannual basis at the Adjusted Treasury Rate (as defined below) plus 15 basis points, as determined by the
Independent Investment Banker (as defined below), plus, in each case, accrued and unpaid interest thereon to the Redemption Date. Notwithstanding the foregoing, installments of interest on Series III Bonds that are due and payable on Interest
Payment Dates falling on or prior to a Redemption Date will be payable on the Interest Payment Date to the registered holders of such Series III Bonds as of the close of business on the relevant record date according to the terms of the Series III
Bonds and the Indenture. The Redemption Price will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date to each registered holder
of the Series III Bonds to be redeemed. Once notice of redemption is mailed, the Series III Bonds called for redemption will become due and payable on the Redemption Date and at the applicable Redemption Price, plus accrued and unpaid interest to
the Redemption Date. Redemption will not be conditional upon receipt by the Trustee of monies sufficient to pay the Redemption Price. 

Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date interest will cease to accrue on the
Series III Bonds or portions thereof called for redemption. The Company will pay the Redemption Price and any accrued interest once the Series III Bonds are surrendered for redemption. If only a portion of the Series III Bonds are redeemed, the
Trustee will deliver new Series III Bonds for the remaining portion without charge. 
 “Adjusted Treasury Rate”
means, with respect to any Redemption Date, the rate per annum equal to the semiannual 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. 

 “Comparable Treasury Issue” means the United States Treasury security
selected by the Independent Investment Banker as having a maturity comparable to the remaining term of the Series III Bonds to be redeemed 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 such Series III Bonds. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (A) the average of the Reference Treasury
Dealer Quotations for such Redemption Date, or (B) if only one Reference Treasury Dealer Quotation is received, such Quotation. 

“Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company to act as the
“Independent Investment Banker.” 
 “Reference Treasury Dealer” means (A) Banc of America
Securities LLC, BNP Paribas Securities Corp. and Morgan Stanley & Co. Incorporated (or their respective affiliates which are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer; and (B) any other Primary
Treasury Dealer(s) 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 Company, 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 Company by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third business day preceding such Redemption Date. 

In the event that the Company elects to redeem only a portion of the Series III Bonds, the bonds to be redeemed shall be selected in
accordance with the procedures of The Depository Trust Company, in the case of bonds represented by a global security, or by the Trustee by a method the Trustee deems to be fair and appropriate, in the case of bonds that are not represented by a
global security. 
 As more fully provided in and subject to the provisions of the Indenture, the Series III Bonds are also
subject to redemption on any date, under certain circumstances specified in Section 13 of Article XI of the Indenture in case of the disposition or taking of certain properties of the Company, at 100% of the principal amount thereof, together
with accrued interest thereon. 
 This bond is transferable as prescribed in the Indenture by the registered owner hereof in
person, or by his duty authorized attorney, at the corporate trust office of the Trustee in the City and County of San Francisco, State of California, upon surrender and cancellation of this bond and thereupon a new registered bond of the same
series and principal amount will be issued to the transferee in exchange therefor as provided in the Indenture, upon payment of any tax or taxes or other governmental charges required to be paid by the Company by reason of such transfer. 

The registered owner of any Series III Bond, at the option of such holder, may surrender the same, accompanied by a written instrument of
transfer in form approved by the Company duly executed by the registered owner, at the corporate trust office of the Trustee in the City and County of San Francisco, State of California, for cancellation in exchange for another or other registered
bonds of the said series of higher or lower authorized denominations of an aggregate principal amount equal to the aggregate principal amount of the bond or bonds so surrendered and bearing interest as provided in Section 9 of Article II of the
Indenture, and upon payment of any tax or taxes or other governmental charges required to be paid by the Company by reason of such exchange and subject to the terms and conditions specified in the Indenture, thereupon the Company shall execute and
deliver to the Trustee and the Trustee shall authenticate and deliver such other bonds to such registered owner at its office or at such agency of the Company, at the option of such registered owner. 

 No recourse shall be had for the payment of the principal of (or premium, if any) or the
interest on this bond, or any part thereof, or of any claim based herein or in respect hereof or of said Indenture, against any incorporator, or any past or future stockholder, officer or director, as such, of the Company or of any predecessor or
successor corporation, either directly or through the Company, or through any such predecessor or successor corporation, or through any receiver or a trustee in bankruptcy, whether by virtue of any constitution, statute 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, as more fully provided in the Indenture. 

************** 

This bond is one of the bonds of the series designated therein, described in the within-mentioned Indenture 

U.S. BANK NATIONAL ASSOCIATION, 
 As Trustee

  

			
	By	 	  

		 	Authorized OfficerThird Amended and Restated Employment Agreement, dated June 17, 2010

 Exhibit 10.32 

THIRD AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS THIRD AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is entered into this 15th day of June, 2010 by and
between Immunomedics, Inc., a Delaware corporation having its principal offices in Morris Plains, New Jersey (the “Company”), and Cynthia L. Sullivan (the “Executive”). 

WHEREAS, the Executive is presently employed by the Company in the capacity of President and Chief Executive Officer, pursuant to that
certain Second Amended and Restated Employment Agreement between the Company and Executive (the “Prior Employment Agreement”), dated December 17, 2008 (the “Effective Date”); 

WHEREAS, the Company desires to continue to employ the Executive as its President and Chief Executive Officer, and the Executive desires
to continue to serve in such capacity on behalf of the Company, upon the terms and conditions hereinafter set forth; 
 WHEREAS,
the Company and the Executive desire to amend and restate the terms and conditions of the Prior Agreement in order to reflect certain desired changes and clarifications in the terms and continue Executive’s employment with the Company upon the
amended and restated terms and conditions of this Agreement; 
 WHEREAS, the Executive acknowledges that she has had an
opportunity to consider this Agreement and consult with an independent advisor(s) of her choosing with regard to the terms of this Agreement, and enters into this Agreement voluntarily and with a full understanding of its terms; and 

WHEREAS, the Company and the Executive have agreed that this Agreement will supersede and replace the Prior Employment Agreement as of
the Effective Date. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 

1.1 Term. The term of this Agreement (the “Term”) began as of the December 31, 2006 and continued until
December 31, 2008 at which time the Term was automatically extended for a successive one year period and was again automatically extended on December 31, 2009 for a successive one-year period. This Agreement and the Term shall terminate on
December 31, 2010, unless sooner terminated by either party as hereinafter provided; provided, however, that the Term shall automatically be extended for successive one-year periods beginning on December 31, 2010 and on each subsequent
anniversary thereof unless, not later than 90 days preceding the date of any such extension, either party gives the other party written notice of such party’s intention not to further extend the Term. If the Company elects not to renew the
Agreement, the Agreement will continue in effect according to its terms until the end of the then current Term, at which time the Agreement shall terminate, with the exception of the Executive’s obligations set forth in Sections 4, 5, 6 and 7.
The expiration or non-renewal of this Agreement shall be deemed a termination of the Executive’s employment for purposes of this Agreement, including a termination without Cause for purposes of Section 2. 

 

 1 

 1.2 Duties and Responsibilities. Commencing on the Effective Date, Executive shall
continue to serve as the President and Chief Executive Officer of the Company and shall perform all duties and accept all responsibilities incident to such position as may be reasonably assigned to Executive by the Company’s Board of Directors
(the “Board”). 
 1.3 Extent of Service. Executive agrees to use Executive’s best efforts to carry out
Executive’s duties and responsibilities under Section 1.1 hereof and, consistent with the other provisions of this Agreement, to devote substantially all of Executive’s business time, attention and energy thereto. The foregoing shall
not be construed as preventing Executive from making investments in other businesses or enterprises, provided that Executive agrees not to become engaged in any other business activity which, in the reasonable judgment of the Board, is likely to
interfere with Executive’s ability to discharge Executive’s duties and responsibilities to the Company. 
 1.4 Base
Salary. For all the services rendered by Executive hereunder, the Company shall pay Executive a base salary (“Base Salary”) at the annual rate of $532,000, payable bi-weekly in installments at such times as the Company customarily pays
its other senior level executives. Executive’s Base Salary shall be reviewed annually for appropriate increases by the Board or Compensation Committee of the Board (the “Compensation Committee”) pursuant to the normal performance
review policies for senior level executives. 
 1.5 Annual Bonus. During the Term, the Executive
shall be eligible to participate in the Company’s incentive compensation plan in place from time to time for its senior level executives generally, at levels determined by the Compensation Committee. The Company reserves the right to amend or
rescind the incentive compensation plan at any time in its discretion. In connection with Executive’s participation in the incentive compensation plan, the Executive shall be eligible to receive an annual discretionary bonus. The amount of the
annual discretionary bonus, if any, will be determined by the Compensation Committee in its discretion, based on the Executive’s individual performance and Company performance as determined by the Compensation Committee. The Executive’s
annual bonus target is 30% of Base Salary, subject to achievement of performance goals to be established by the Compensation Committee, with a potential payout from 0 to 150% of the target amount depending upon achievement of the performance goals.
The discretionary annual bonus, if any, will be determined as of the end of each fiscal year during the Term and shall be paid as soon as practicable after the end of each fiscal year to which the bonus relates, but in no event, later than
2- 1/2 months after the end of such fiscal year,
except as provided in Section 2. Except as otherwise specifically provided in Section 2, to be eligible to receive an annual bonus, or any portion thereof, the Executive must be employed by the Company both at the time the amount of the
annual bonus, if any, is determined, and at the time the annual bonus, if any, is paid. 
 1.6 Equity
Compensation. During the Term, pursuant to the terms and conditions of the Company’s 2006 Stock Incentive Plan or any successor equity compensation plan as may be in place from time to time, the Executive shall be eligible to receive, from
time to time, awards in amounts, and subject to such terms, conditions and restrictions, as determined by the Compensation Committee in its sole discretion. Awards granted to the Executive, if any, shall be subject to the terms and conditions
established within the Company’s 2006 Stock Incentive Plan (as amended from time to time) or any successor equity compensation plan as may be in place 

 

 2 

 
from time to time, as applicable, and the separate option agreement, restricted stock purchase agreement or stock award agreement between the Company and the Executive that sets forth the terms
and conditions of the award (e.g., exercise price, expiration date and vesting schedule of stock options; and the restricted period and/or other restrictions such as performance objectives relating to stock awards). 

1.7 Retirement and Welfare Plans. During the Term, Executive shall participate in employee retirement and welfare benefit plans
made available to the Company’s senior level executives as a group or to its employees generally, as such retirement and welfare plans may be in effect from time to time and subject to the eligibility requirements of the plans. Nothing in this
Agreement shall prevent the Company from amending or terminating any retirement, welfare or other employee benefit plans or programs from time to time as the Company deems appropriate. 

1.8 Reimbursement of Expenses; Vacation. During the Term, Executive shall be provided with reimbursement of reasonable expenses
related to Executive’s employment by the Company on a basis no less favorable than that which may be authorized from time to time for senior level executives as a group, and shall be entitled to six (6) weeks of vacation in accordance with
the Company’s pay for time not worked policies. 
 2. Termination. Executive’s employment shall terminate upon
the occurrence of any of the following events: 
 2.1 Termination Without Cause or Resignation for Good Reason Before A
Change of Control. 
 (a) The Company may remove Executive at any time without Cause (as defined in Section 2.9) from
the position in which Executive is employed hereunder upon not less than 30 days’ prior written notice to Executive. The Company shall have discretion to terminate Executive’s employment during the notice period and pay continued Base
Salary in lieu of notice. In addition, Executive may initiate a termination of employment by resigning under this Section 2.1 for Good Reason (as defined in, and in accordance with the notice provisions set forth in Section 2.9).

 (b) If Executive’s employment terminates as described in subsection (a) above and Executive executes and does not
revoke a written release upon such removal, in a form provided by the Company, of any and all claims against the Company and all related parties with respect to all matters arising out of Executive’s employment by the Company, or the
termination thereof (the “Release”), Executive shall be entitled to receive the following severance compensation, as long as Executive complies with the terms of Sections 4, 5, 6 and 7 below: 

(i) Executive shall receive severance payments in an amount equal to the sum of: (x) being 2.00 times Executive’s annual Base
Salary at the rate in effect at the time of Executive’s termination, and (y) being 2.00 times Executive’s target bonus established for the fiscal year in which the date of termination occurs. The severance amount shall be paid in
separate equal monthly payments over the 24-month period following Executive’s termination of employment. 
  

 3 

 (ii) The Company shall, for a period of 24 months following the date of Executive’s
termination of employment, pay Executive each month an amount equal to the monthly COBRA medical insurance cost under the Company’s medical plan for Executive, and, where applicable, her spouse and dependents, less an amount equal to the
required monthly employee payment for such coverage calculated as if Executive had continued to be an employee of the Company throughout such period. 

(iii) Executive shall receive any benefits earned, accrued and due in accordance with the terms of any applicable benefit plans and
programs of the Company. In addition, Executive shall be entitled to the annual bonus earned based on actual performance, if any, payable for the fiscal year in which the termination occurs (prorated to reflect Executive’s actual period of
service during such fiscal year) paid in accordance with Section 1.5 without regard to the last sentence of Section 1.5. 

(iv) Except as otherwise required by Section 2.10, the benefits described in subsections (i) and (ii) above shall begin
within 60 days after Executive’s termination date, subject to Executive’s execution and non-revocation of the Release; provided that notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of
Executive’s execution of the Release, directly or indirectly, result in Executive designating the calendar year of payment, and if a payment that is subject to execution of the Release could be made in more than one taxable year, payment shall
be made in the later taxable year. The Company shall provide the Release to Executive on or before the termination date, and Executive shall execute the Release during the time period permitted by applicable law. 

(v) Executive agrees that if Executive fails to comply with Section 4, 5, 6 or 7 below, all payments under this Section 2.1
shall immediately cease. 
 2.2 Termination Without Cause or Resignation for Good Reason After A Change of Control.

 (a) If a Change of Control occurs and, during the one-year period commencing on the date of the Change of Control, and the
Company terminates Executive’s employment without Cause (upon not less than 30 days’ prior written notice to Executive) or Executive resigns for Good Reason (as defined in, and in accordance with the notice provisions set forth in
Section 2.9), this Section 2.2 shall apply. The Company shall have discretion to terminate Executive’s employment during the notice period and pay continued Base Salary in lieu of notice. 

(b) If Executive’s employment terminates as described in subsection (a) above and Executive executes and does not revoke a
Release, Executive shall be entitled to receive the following severance compensation, as long as Executive complies with the terms of Sections 4, 5, 6 and 7 below: 

(i) Executive shall receive a lump sum severance payment in an amount equal to 3.00 times the sum of Executive’s annual Base Salary
at the rate in effect at the time of Executive’s termination and Executive’s target bonus for the calendar year in which the date of termination occurs. 

 

 4 

 (ii) The Company shall, for a period of 36 months following the date of Executive’s
termination of employment, pay Executive each month an amount equal to the monthly COBRA medical insurance cost under the Company’s medical plan for Executive, and, where applicable, her spouse and dependents, less an amount equal to the
required monthly employee payment for such coverage calculated as if Executive had continued to be an employee of the Company throughout such period. 

(iii) Executive shall receive any benefits earned, accrued and due in accordance with the terms of any applicable benefit plans and
programs of the Company. In addition, Executive shall be entitled to the annual bonus earned based on actual performance, if any, payable for the fiscal year in which the termination occurs (prorated to reflect Executive’s actual period of
service during such fiscal year) paid in accordance with Section 1.5 without regard to the last sentence of Section 1.5. 

(iv) Except as otherwise required by Section 2.10, the lump sum payment described in subsection (i) shall be made, and the
monthly payments described in subsection (ii) above shall begin, within 60 days after Executive’s termination date, subject to Executive’s execution and non-revocation of the Release; provided that notwithstanding any provision of
this Agreement to the contrary, in no event shall the timing of Executive’s execution of the Release, directly or indirectly, result in Executive designating the calendar year of payment, and if a payment that is subject to execution of the
Release could be made in more than one taxable year, payment shall be made in the later taxable year. The Company shall provide the Release to Executive on or before the termination date, and Executive shall execute the Release during the time
period permitted by applicable law. 
 (v) Notwithstanding any provision to the contrary in the Company’s 2006 Stock
Incentive Plan or any applicable plan, program or agreement, all stock options, restricted stock and other equity rights held by the Executive will become fully vested and/or exercisable, as the case may be, on the Executive’s termination date,
and all stock options held by the Executive shall remain exercisable, notwithstanding anything in any other agreement governing such options, for a period of 24 months following the end of the remaining balance of the Term of the Agreement;
provided, however, that in no event will the option be exercisable (i) beyond its original term; or (ii) beyond the extension period permitted under section 409A of the Code. 

(c) Notwithstanding any provision to the contrary in any applicable plan, program or agreement providing for supplemental retirement
benefits or deferred compensation, upon the occurrence of a Change of Control, Executive’s accrued benefit under such plans, programs or agreements shall become fully vested on the date on which the Change in Control occurs, and shall be
immediately payable on the Executive’s date of termination, unless the Executive has made a valid election under such plan, program or agreement to defer payment of such accrued benefits or the terms of the applicable plans, programs or
agreements provide otherwise. 
 (d) Executive agrees that if Executive materially breaches Section 4, 5, 6 or 7 below, all
payments and benefits under this Section 2.2 shall immediately cease. 
  

 5 

 2.3 Increase in Payments Upon a Change of Control. 

(a) Anything in this Agreement to the contrary notwithstanding, in the event that it shall be determined that any payment or distribution
by the Company to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”), would constitute an “excess parachute payment” within
the meaning of Section 280G of the Code, the Company shall pay to Executive an additional amount (the “Gross-Up Payment”) such that the net amount retained by Executive after deduction of any excise tax imposed under Section 4999
of the Code, and any federal, state and local income tax, employment tax and excise tax imposed upon the Gross-Up Payment, shall be equal to the Payment. For purposes of determining the amount of the Gross-Up Payment, unless Executive specifies that
other rates apply, Executive shall be deemed to pay federal income tax and employment taxes at the highest marginal rate of federal income and employment taxation in the calendar year in which the Gross-Up Payment is to be made and state and local
income taxes at the highest marginal rate of taxation in the state and locality of Executive’s residence on Executive’s termination date, net of the maximum reduction in federal income taxes that may be obtained from the deduction of such
state and local taxes. 
 (b) All determinations to be made under this Section 2.3 shall be made by the Company’s
independent public accountant immediately prior to the Change of Control or by another independent public accounting firm mutually selected by the Company and Executive before the date of the Change of Control (the “Accounting Firm”),
which firm shall provide its determinations and any supporting calculations both to the Company and Executive within 20 days after Executive’s termination date. Any such determination by the Accounting Firm shall be binding upon the Company and
Executive. 
 (c) The Company shall pay the Gross-Up Payment as and when the related excise tax under section 4999 of the Code
(“Excise Tax”) is incurred. The Gross-Up Payment shall be paid in accordance with section 409A of the Code, to the extent applicable. If required in order to comply with section 409A of the Code, (i) the Gross-Up Payment attributable
to Payments other than severance compensation shall be paid in a lump sum payment upon the closing of the Change of Control, subject to Section 2.10 below, if applicable, and (ii) the Gross-Up Payment attributable to severance compensation
shall be paid in a lump sum payment on the first day on which severance compensation is paid. If the amount of a Gross-Up Payment cannot be fully determined by the date on which the applicable portion of the Payment becomes subject to the Excise Tax
(“Payment Date”), the Company shall pay to the Executive by the Payment Date an estimate of such Gross-Up Payment, as determined by the Accounting Firm, and the Company shall pay to the Executive the remainder of such Gross-Up Payment (if
any) as soon as the amount can be determined, but in no event later than 20 days after the Payment Date. Notwithstanding any provision of this Section 2.3 to the contrary, in accordance with the requirements of section 409A of the Code, any
Gross-Up Payment payable hereunder shall be paid not later than December 31 of the calendar year next following the calendar year in which Executive or the Company (as applicable) remits the taxes for which the Gross-Up Payment is being paid.

 (d) All of the fees and expenses of the Accounting Firm in performing the determinations referred to in this Section 2.3
shall be borne solely by the Company. The 
  

 6 

 
Company agrees to indemnify and hold harmless the Accounting Firm from any and all claims, damages and expenses resulting from or relating to its determinations pursuant to this Section 2.3,
except for claims, damages or expenses resulting from the gross negligence or willful misconduct of the Accounting Firm. 
 2.4
Voluntary Termination. Executive may voluntarily terminate Executive’s employment for any reason upon 30 days’ prior written notice. In such event, after the effective date of such termination, except as provided in Section 2.2
with respect to a resignation for Good Reason, no further payments shall be due under this Agreement, except that Executive shall be entitled to any benefits earned, accrued and due in accordance with the terms of any applicable benefit plans and
programs of the Company. 
 2.5 Disability. The Company may terminate Executive’s employment if Executive has been
unable to perform the material duties of Executive’s employment for a period of 90 days in any 12-month period because of physical or mental injury or illness (“Disability”); provided, however, that the Company shall continue to pay
Executive’s Base Salary until the Company acts to terminate Executive’s employment. Notwithstanding the foregoing, the Executive shall be deemed terminated for Disability if the Executive is disabled for a period of 12 months. Executive
agrees, in the event of a dispute under this Section 2.5 relating to Executive’s Disability, to submit to a physical examination by a licensed physician jointly selected by the Board and Executive. If the Company terminates
Executive’s employment for Disability, no further payments shall be due under this Agreement, except that Executive shall be entitled to any benefits earned, accrued and due in accordance with the terms of any applicable benefit plans and
programs of the Company. In addition, Executive shall be entitled to the annual bonus earned based on actual performance, if any, payable for the fiscal year in which the termination occurs (prorated to the date Executive is determined to have a
Disability) paid in accordance with Section 1.5 without regard to the last sentence of Section 1.5. 
 2.6
Death. If Executive dies while employed by the Company, the Company shall pay to Executive’s executor, legal representative, administrator or designated beneficiary, as applicable, any benefits earned, accrued and due under the
Company’s benefit plans and programs in accordance with the terms and conditions contained therein. Otherwise, the Company shall have no further liability or obligation under this Agreement to Executive’s executors, legal representatives,
administrators, heirs or assigns or any other person claiming under or through Executive. In addition, Executive shall be entitled to the annual bonus earned based on actual performance, if any, payable for the fiscal year in which the termination
occurs (prorated to reflect Executive’s actual period of service during such fiscal year) paid in accordance with Section 1.5 without regard to the last sentence of Section 1.5. 

2.7 Cause. The Company may terminate Executive’s employment at any time for Cause (as defined in Section 2.9) upon
written notice to Executive, in which event all payments under this Agreement shall cease. Executive shall be entitled to any benefits earned, accrued and due before Executive’s termination in accordance with the terms of any applicable benefit
plans and programs of the Company. 
 2.8 Notice of Termination. Any termination of Executive’s employment shall be
communicated by a written notice of termination to the other party hereto given in accordance 
  

 7 

 
with Section 11. The notice of termination shall (a) indicate the specific termination provision in this Agreement relied upon, (b) briefly summarize the facts and circumstances
deemed to provide a basis for a termination of employment and the applicable provision hereof, and (c) specify the termination date in accordance with the requirements of this Agreement. 

2.9 Definitions. 

(a) “Cause” shall mean any of the following grounds for termination of Executive’s employment: 

(i) Executive shall have been convicted of a felony, or enters in a plea of guilty or nolo contendere with respect thereto;

 (ii) Executive intentionally and continually fails to perform Executive’s reasonably assigned material duties to the
Company (other than a failure resulting from Executive’s incapacity due to physical or mental illness), which failure has continued for a period of at least 30 days after a written notice of demand for substantial performance, signed by a duly
authorized officer of the Company, has been delivered to Executive specifying the manner in which Executive has failed substantially to perform; 

(iii) Executive causes material, intentional, wrongful damage to the property of the Company; 

(iv) Executive engages in public conduct that is harmful to the reputation of the Company; 

(v) Executive engages in willful misconduct in the performance of Executive’s duties; or 

(vi) Executive materially breaches Sections 4, 5, 6 or 7 below. 

(b) “Change of Control” shall mean: 

(i) A merger, consolidation or reorganization approved by the Company’s stockholders, unless securities representing more than 50%
of the total and combined voting power of the outstanding voting securities of the successor corporation are immediately thereafter beneficially owned, directly or indirectly, by the persons who beneficially owned the Company’s outstanding
voting securities immediately prior to such transaction; or 
 (ii) The sale, transfer or other disposition of all or
substantially all of the Company’s assets as an entirety or substantially as an entirety, occurring within a 12-month period, and representing, at a minimum, not less than 40% of the total gross fair market value of all assets of the Company,
to any person, entity, or group of persons acting in consort, other than a sale, transfer or disposition to: (A) a stockholder of the Company in exchange for or with respect to its stock; (B) an entity, 50% or more of the total value or
voting power of which is owned, directly or indirectly, by the Company; (C) a person, or more than one person acting as a group, that owns, directly or indirectly, 50% or more of the total value or voting power of the outstanding stock of the
Company; or (D) an entity, at least 50% of the total value or voting power of which is owned by a person described in (C); or 
  

 8 

 (iii) Any transaction or series of related transactions pursuant to which any person or any
group of persons comprising a “group” within the meaning of Rule 13d-5(b)(l) under the Securities Exchange Act of 1934, as amended (other than the Company or a person that, prior to such transaction or series of related transactions,
directly or indirectly controls, is controlled by or is under common control with, the Company) becomes directly or indirectly the beneficial owner (within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended) of securities
possessing (or convertible into or exercisable for securities possessing) more than 50% of the total combined voting power of the Company’s securities outstanding immediately after the consummation of such transaction or series of related
transactions, whether such transaction involves a direct issuance from the Company or the acquisition of outstanding securities held by one or more of the Company’s stockholders; or 

(iv) A change in the composition of the Board over a period of 12 consecutive months or less such that a majority of the Board members
ceases by reason of one or more contested elections for Board membership to be comprised of individuals whose election is endorsed by a majority of the members of the Board immediately before the date of election. 

A transaction shall not constitute a Change of Control if its sole purpose is to change the state of the Company’s incorporation or to create a
holding company that will be owned in the same proportions by the persons who held the Company’s securities immediately before such transaction. 

(c) “Code” shall mean the Internal Revenue Code of 1986, as amended. 

(d) “Good Reason” shall mean the occurrence of any of the following events or conditions, unless Executive has expressly
consented in writing thereto, or except as a result of Executive’s physical or mental incapacity or as described in the last sentence of this subsection (d): 

(i) A material reduction in Executive’s Base Salary; 

(ii) The material diminution of the Executive’s duties, responsibilities, powers or authorities, including the assignment of any
duties and responsibilities inconsistent with her position as President and Chief Executive Officer; 
 (iii) The Company
requires that Executive’s principal office location be moved to a location more than 50 miles form Executive’s principal office location immediately before the change; 

(iv) The failure of the Company to obtain the assumption of the obligations contained herein by any successor; or 

(v) On or after a Change of Control, the removal of Executive from her office as President and Chief Executive Officer or a material
reduction of Executive’s 
  

 9 

 
primary functional authorities, duties, or responsibilities as President and Chief Executive Officer of the Company from those in effect immediately prior to the Change of Control or the
assignment of duties to Executive inconsistent with those of President and Chief Executive Officer of the Company, other than an insubstantial and inadvertent reduction or assignment that is remedied by the Company promptly after receipt of notice
thereof given by Executive in accordance with the notice provisions below. 
 Notwithstanding the foregoing, Executive shall not have Good
Reason for termination unless Executive gives written notice of termination for Good Reason within 15 days after the event or condition giving rise to Good Reason occurs and the Company does not correct the action or failure to act that constitutes
the grounds for Good Reason, as set forth in Executive’s notice of termination, within 30 days after the date on which Executive gives written notice of termination and the Executive actually resigns from employment upon the expiration of the
foregoing cure period. In the event of a cure of such event or condition constituting Good Reason by the Company, such event or condition shall no longer constitute Good Reason. 

2.10 Required Postponement for Specified Executives. 

(a) If Executive is considered a Specified Executive (as defined below) and payment of any amounts under this Agreement is required to be
delayed for a period of six months after separation from service pursuant to section 409A of the Code, payment of such amounts shall be delayed as required by section 409A of the Code, and the accumulated postponed amounts, with accrued interest as
described below, shall be paid in a lump sum payment within five days after the end of the six month period. If Executive dies during the postponement period prior to the payment of benefits, the amounts postponed on account of section 409A of the
Code, with accrued interest as described in subsection (b) below, shall be paid to the personal representative of Executive’s estate within 60 days after the date of Executive’s death. 

(b) If payment of any amounts under this Agreement is required to be delayed pursuant to section 409A of the Code, the Company shall pay
interest on the postponed payments from the date on which the amounts otherwise would have been paid to the date on which such amounts are paid at an annual rate equal to the rate published in the Wall Street Journal as the “prime
rate” as of Executive’s date of termination. 
 (c) The term “Specified Executive” means an employee who, at
any time during the 12-month period ending on the identification date (defined below), is (i) an officer of the Company or a member of its controlled group (as determined for purposes of section 416(i) of the Code) who has annual compensation
greater than $160,000 (or such other amount as may be in effect under section 416(i)(l) of the Code), (ii) a 5% owner of the Company or (iii) a 1% owner of the Company who has annual compensation greater than $150,000. The identification
date shall be each December 31, and the determination of Specified Executives as of such identification date shall apply for the 12-month period following April 1 after the identification date. The determination of Specified Executives,
including the number and identity of persons considered officers, shall be made by the Company in accordance with the provisions of sections 416(i) and 409A of the Code and the regulations issued thereunder. 

 

 10 

 3. Non-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit Executive’s
continuing or future participation in or rights under any benefit, bonus, incentive or other plan or program provided by the Company and for which Executive may qualify; provided, however, that if Executive becomes entitled to and receives the
payments provided for in Section 2 of this Agreement, Executive hereby waives Executive’s right to receive payments under any severance plan or similar program applicable to all employees of the Company. 

4. Confidentiality. Executive agrees that Executive’s services to the Company and its subsidiaries and any successors or assigns
(collectively, the “Employer”) were and are of a special, unique and extraordinary character, and that Executive’s position places Executive in a position of confidence and trust with the Employer’s customers and employees.
Executive also recognizes that Executive’s position with the Employer will give Executive substantial access to Confidential Information (as defined below), the disclosure of which to competitors of the Employer would cause the Employer to
suffer substantial and irreparable damage. Executive recognizes, therefore, that it is in the Employer’s legitimate business interest to restrict Executive’s use of Confidential Information for any purposes other than the discharge of
Executive’s employment duties at the Employer, and to limit any potential appropriation of Confidential Information by Executive for the benefit of the Employer’s competitors and to the detriment of the Employer. Accordingly, Executive
agrees as follows: 
 (a) Executive will not at any time, whether during or after the termination of Executive’s
employment, reveal to any person or entity any of the trade secrets or confidential information of the Employer or of any third party which the Employer is under an obligation to keep confidential (including but not limited to trade secrets or
confidential information respecting inventions, products, designs, methods, know-how, techniques, systems, processes, software programs, works of authorship, customer lists, projects, plans and proposals) (“Confidential Information”),
except as may be required in the ordinary course of performing Executive’s duties as an employee of the Employer, and Executive shall keep secret all matters entrusted to Executive and shall not use or attempt to use any such information in any
manner which may injure or cause loss or may be calculated to injure or cause loss whether directly or indirectly to the Employer. 

(b) The above restrictions shall not apply to: (i) information that at the time of disclosure is in the public domain through no
fault of Executive; (ii) information received from a third party outside of the Employer that was disclosed without a breach of any confidentiality obligation; (iii) information approved for release by written authorization of the
Employer; or (iv) information that may be required by law or an order of any court, agency or proceeding to be disclosed; provided Executive shall provide the Employer notice of any such required disclosure once Executive has knowledge of it
and will help the Employer to the extent reasonable to obtain an appropriate protective order. 
 (c) Further, Executive agrees
that during Executive’s employment Executive shall not take, use or permit to be used any notes, memoranda, reports, lists, records, drawings, sketches, specifications, software programs, data, documentation or other materials of any nature
relating to any matter within the scope of the business of the Employer or concerning any of its dealings or affairs otherwise than for the benefit of the Employer. Executive further agrees that Executive shall not, after the termination of
Executive’s employment, use or permit to be used 
  

 11 

 
any such notes, memoranda, reports, lists, records, drawings, sketches, specifications, software programs, data, documentation or other materials, it being agreed that all of the foregoing shall
be and remain the sole and exclusive property of the Employer and that, immediately upon the termination of Executive’s employment, Executive shall deliver all of the foregoing, and all copies thereof, to the Employer, at its main office.

 (d) Executive agrees that upon the termination of Executive’s employment with the Employer, Executive will not take or
retain without written authorization any documents, files or other property of the Employer, and Executive will return promptly to the Employer any such documents, files or property in Executive’s possession or custody, including any copies
thereof maintained in any medium or format. Executive recognizes that all documents, files and property which Executive has received and will receive from the Employer, including but not limited to scientific research, customer lists, handbooks,
memoranda, product specifications, and other materials (with the exception of documents relating to benefits to which Executive might be entitled following the termination of Executive’s employment with the Employer), are for the exclusive use
of the Employer and employees who are discharging their responsibilities on behalf of the Employer, and that Executive has no claim or right to the continued use, possession or custody of such documents, files or property following the termination
of Executive’s employment with the Employer. 
 5. Intellectual Property. 

(a) If at any time or times during Executive’s employment Executive shall (either alone or with others) make, conceive, discover or
reduce to practice any invention, modification, discovery, design, development, improvement, process, software program, work of authorship, documentation, formula, data, technique, know-how, secret or intellectual property right whatsoever or any
interest therein (whether or not patentable or registrable under copyright or similar statutes or subject to analogous protection) (herein called “Developments”) that (i) relates to the business of the Employer or any customer of or
supplier to the Employer or any of the products or services being developed, manufactured or sold by the Employer or which may be used in relation therewith, (ii) results from tasks assigned to Executive by the Employer or (iii) results
from the use of premises or personal property (whether tangible or intangible) owned, leased or contracted for by the Employer, such Developments and the benefits thereof shall immediately become the sole and absolute property of the Employer and
its assigns, and Executive shall promptly disclose to the Employer (or any persons designated by it) each such Development, and Executive hereby assigns any rights Executive may have or acquire in the Developments and benefits and/or rights
resulting therefrom to the Employer and its assigns without further compensation and shall communicate, without cost or delay, and without publishing the same, all available information relating thereto (with all necessary plans and models) to the
Employer. 
 (b) Upon disclosure of each Development to the Employer, Executive will, during Executive’s employment and at
any time thereafter, at the request and cost of the Employer, sign, execute, make and do all such deeds, documents, acts and things as the Employer and its duly authorized agents may reasonably require: 

(i) to apply for, obtain and vest in the name of the Employer alone (unless the Employer otherwise directs) letters patent, copyrights
or other analogous protection in any country throughout the world and when so obtained or vested to renew and restore the same; and 
  

 12 

 (ii) to defend any opposition proceedings in respect of such applications and any
opposition proceedings or petitions or applications for revocation of such letters patent, copyright or other analogous protection. 

(c) In the event the Employer is unable, after reasonable effort, to secure Executive’s signature on any letters patent, copyright
or other analogous protection relating to a Development, whether because of Executive’s physical or mental incapacity or for any other reason whatsoever, Executive hereby irrevocably designates and appoints the Employer and its duly authorized
officers and agents as Executive’s agent and attorney-in-fact, to act for and on Executive’s behalf and stead to execute and file any such application or applications and to do all other lawfully permitted acts to further the prosecution
and issuance of letter patents, copyright and other analogous protection thereon with the same legal force and effect as if executed by Executive. 

6. Non-Competition. While Executive is employed at the Employer and for a period of two (2) years after termination of Executive’s
employment (for any reason whatsoever, whether voluntary or involuntarily), Executive will not, without the prior written approval of the Board, whether alone or as a partner, officer, director, consultant, agent, employee or stockholder of any
company or other commercial enterprise, directly or indirectly engage in any business or other activity in the United States or Canada which competes with the Employer in the field of therapeutic antibodies for cancer. The foregoing prohibition
shall not prevent Executive’s employment or engagement after termination of Executive’s employment by any company or business organization, as long as the activities of any such employment or engagement, in any capacity, do not involve
work on matters related to the products being developed, manufactured, or marketed by the Employer during Executive’s employment with the Employer. Executive shall be permitted to own securities of a public company not in excess of five percent
of any class of such securities and to own stock, partnership interests or other securities of any entity not in excess of five percent of any class of such securities and such ownership shall not be considered to be in competition with the
Employer. 
 7. Non-Solicitation. While Executive is employed at the Employer and for a period of two (2) years after termination of
such employment (for any reason, whether voluntary or involuntarily), Executive agrees that Executive will not: 
 (a) directly
or indirectly solicit, entice or induce any customer to become a customer of any other person, firm or corporation with respect to products then sold or under development by the Employer or to cease doing business with the Employer, and Executive
shall not approach any such person, firm or corporation for such purpose or authorize or knowingly approve the taking of such actions by any other person; or 
  

 13 

 (b) directly or indirectly solicit or recruit any employee of the Employer to work for a
third party other than the Employer (excluding newspaper or similar print or electronic solicitations of general circulation). 
 8. General
Provisions. 
 (a) Executive acknowledges and agrees that the type and periods of restrictions imposed in Sections 4, 5, 6
and 7 of this Agreement are fair and reasonable, and that such restrictions are intended solely to protect the legitimate interests of the Employer, rather than to prevent Executive from earning a livelihood. Executive recognizes that the Employer
competes worldwide, and that Executive’s access to Confidential Information makes it necessary for the Employer to restrict Executive’s post-employment activities in any market in which the Employer competes, and in which Executive’s
access to Confidential Information and other proprietary information could be used to the detriment of the Employer. In the event that any restriction set forth in this Agreement is determined to be overbroad with respect to scope, time or
geographical coverage, Executive agrees that such a restriction or restrictions should be modified and narrowed, either by a court or by the Employer, so as to preserve and protect the legitimate interests of the Employer as described in this
Agreement, and without negating or impairing any other restrictions or agreements set forth herein. 
 (b) Executive
acknowledges and agrees that if Executive should breach any of the covenants, restrictions and agreements contained herein, irreparable loss and injury would result to the Employer, and that damages arising out of such a breach may be difficult to
ascertain. Executive therefore agrees that, in addition to all other remedies provided at law or at equity, the Employer shall be entitled to have the covenants, restrictions and agreements contained in Sections 4, 5, 6, and 7 specifically enforced
(including, without limitation, by temporary, preliminary, and permanent injunctions and restraining orders) by any state or federal court in the State of New Jersey having equity jurisdiction and Executive agrees to subject Executive to the
jurisdiction of such court. 
 (c) Executive agrees that if the Employer fails to take action to remedy any breach by Executive
of this Agreement or any portion of the Agreement, such inaction by the Employer shall not operate or be construed as a waiver of any subsequent breach by Executive of the same or any other provision, agreement or covenant. 

(d) Executive acknowledges and agrees that the payments and benefits to be provided to Executive under this Agreement are provided as
consideration for the covenants in Sections 4, 5, 6, and 7 hereof. 
 9. Survivorship. The respective rights and obligations of the
parties under this Agreement shall survive any termination of Executive’s employment to the extent necessary to the intended preservation of such rights and obligations. 

10. Mitigation. Executive shall not be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other
employment or otherwise and there shall be no offset against amounts due Executive under this Agreement on account of any remuneration attributable to any subsequent employment that Executive may obtain. 

 

 14 

 11. Notices. All notices and other communications required or permitted under this Agreement or
necessary or convenient in connection herewith shall be in writing and shall be deemed to have been given when hand delivered or mailed by registered or certified mail, as follows (provided that notice of change of address shall be deemed given only
when received): 
 If to the Company, to: 

Immunomedics, Inc. 

300 American Road 

Morris Plains, NJ 07950 

If to Executive, to: 

Cynthia L. Sullivan 
 or to such
other names or addresses as the Company or Executive, as the case may be, shall designate by notice to each other person entitled to receive notices in the manner specified in this Section. 

12. Contents of Agreement: Amendment and Assignment. 

(a) This Agreement sets forth the entire understanding between the parties hereto with respect to the subject matter hereof and
supercedes any and all prior agreements, including the Prior Employment Agreement, and understandings concerning Executive’s employment by the Company and cannot be changed, modified, extended or terminated except upon written amendment
approved by the Board and executed on its behalf by a duly authorized officer and by Executive. 
 (b) All of the terms and
provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto, except that the duties and
responsibilities of Executive under this Agreement are of a personal nature and shall not be assignable or delegatable in whole or in part by Executive. The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation, reorganization or otherwise) to all or substantially all of the business or assets of the Company, within 15 days of such succession, expressly to assume and agree to perform this Agreement in the same manner and to the same extent as
the Company would be required to perform if no such succession had taken place. 
 13. Severability. If any provision of this Agreement
or application thereof to anyone or under any circumstances is adjudicated to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application of this Agreement which can be
given effect without the invalid or unenforceable provision or application and shall not invalidate or render unenforceable such provision or application in any other jurisdiction. If any provision is held void, invalid or unenforceable with respect
to particular circumstances, it shall nevertheless remain in full force and effect in all other circumstances. 
  

 15 

 14. Remedies Cumulative; No Waiver. No remedy conferred upon a party by this Agreement is intended to
be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to any other remedy given under this Agreement or now or hereafter existing at law or in equity. No delay or omission by a party in
exercising any right, remedy or power under this Agreement or existing at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may be exercised by such party from time to time and as often as may be deemed
expedient or necessary by such party in its sole discretion. 
 15. Withholding. All payments under this Agreement shall be made subject
to applicable tax withholding, and the Company shall withhold from any payments under this Agreement all federal, state and local taxes as the Company is required to withhold pursuant to any law or governmental rule or regulation. Except as
otherwise provided by Section 2.3, Executive shall bear all expense of, and be solely responsible for, all federal, state and local taxes due with respect to any payment received under this Agreement. 

16. Miscellaneous. This Agreement may be executed in counterparts, each of which is an original. It shall not be necessary in making proof of this
Agreement or any counterpart hereof to produce or account for any of the other counterparts. 
 17. Governing Law. This Agreement shall
be governed by and interpreted under the laws of the State of New Jersey without giving effect to any conflict of laws provisions or canons of construction that construe agreements against the draftsperson. 

18. Section 409A of the Code. This Agreement is intended to comply with section 409A of the Code and its corresponding regulations, to the
extent applicable. Notwithstanding anything in this Agreement to the contrary, payments may only be made under this Agreement upon an event and in a manner permitted by section 409A of the Code, to the extent applicable. For purposes of section 409A
of the Code, all payments to be made upon the termination of the of employment under this Agreement may only be made upon a “separation from service” under section 409A of the Code, each payment made under this Agreement shall be treated
as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments. In no event shall Executive, directly or indirectly, designate the calendar year of payment.

 [Signature Page Follows] 
  

 16 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this
Agreement as of the date first above written. 
  

			
	IMMUNOMEDICS, INC.
		
	By:	 	 

	Name:	 	Gerard G. Gorman
	Title:	 	Senior Vice President, Finance and Business Development, and Chief Financial Officer
	
	EXECUTIVE
	
	 

	Cynthia L. Sullivan

  

 17

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