Document:

Supplemental Indenture No. 7 dated as of June 1, 2019

 Exhibit 4.02 

Execution Version 

SUPPLEMENTAL INDENTURE 

(First Mortgage Bonds) 

SOUTHWESTERN PUBLIC SERVICE COMPANY 

TO 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 
  

 
 This
Instrument Grants A Security Interest By A Utility. 
 This Instrument Contains After-Acquired Property Provisions.

 The following addresses for the parties to this Supplemental Indenture No. 7 are set out in Section 108 of the Indenture hereinafter
referred to: 
  

							
		 	Trustee:	  	Company:	  	
				
		 	U.S. Bank National Association	  	Southwestern Public Service Company	  	
		 	U.S. Bank Corporate Trust Services	  	790 South Buchanan	  	
		 	60 Livingston Avenue, EP-MN-WS3C	  	Amarillo, Texas 79101	  	
		 	St. Paul, MN 55107-2292	  		  	
		 	Facsimile No. 651-495-8097	  		  	
		 	Attention: Joshua A. Hahn	  		  	

  
  

Supplemental Indenture No. 7 

Dated as of June 1, 2019 

Supplemental to the Indenture 

dated as of August 1, 2011 

Filed as Texas Utility Security Instrument File No. 11-0022610194 

as supplemented by Supplemental Indentures filed with the Texas Secretary of State 

Filed with New Mexico Secretary of State on August 2, 2011, as Public Utility Filing No. 599, 

as supplemented by Supplemental Indentures filed with the New Mexico Secretary of State 

 
  

Establishing the Securities of Series No. 7, 

Designated 3.75% First Mortgage Bonds, Series No. 7 due 2049 

 SUPPLEMENTAL INDENTURE NO. 7, dated as of June 1, 2019
between SOUTHWESTERN PUBLIC SERVICE COMPANY, a corporation duly organized and existing under the laws of the State of New Mexico (hereinafter sometimes called the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a
national banking association, as trustee (hereinafter sometimes called the “Trustee”) under the Indenture, dated as of August 1, 2011 (hereinafter called the “Original Indenture”), as previously supplemented
and as further supplemented by this Supplemental Indenture No. 7. The Original Indenture and any and all indentures and all other instruments supplemental thereto are hereinafter sometimes collectively called the “Indenture.”

 Recitals of the Company 

The Original Indenture was authorized, executed and delivered by the Company to provide for the issuance from time to time of its Securities
(such term and all other capitalized terms used herein without definition having the meanings assigned to them in the Original Indenture), to be issued in one or more series as contemplated therein, and to provide security for the payment of the
principal of and premium, if any, and interest, if any, on the Securities. The Original Indenture has been filed in the office of the Secretary of State of the State of New Mexico and in the office of the Secretary of State of the State of Texas,
and notices with respect to such filings have been recorded in each county in New Mexico and each county in Texas in which the Company owns real property that is used or intended to be used in or in connection with the Electric Utility Business, as
more fully set forth in Schedule A hereto. 
 The Company has heretofore executed and delivered to the Trustee the Supplemental Indentures
referred to in Schedule B for the purpose of establishing a series of securities. 
 The Company desires to establish a new series of
Securities to be designated “3.75% First Mortgage Bonds, Series No. 7 due 2049,” such series of Securities to be hereinafter sometimes called “Series No. 7.” 

The Company has duly authorized the execution and delivery of this Supplemental Indenture No. 7 to establish the Securities of Series
No. 7 and has duly authorized the issuance of such Securities; and all acts necessary to make this Supplemental Indenture No. 7 a valid agreement of the Company, and to make the Securities of Series No. 7 valid obligations of the
Company, have been performed. 
 Granting Clauses 

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE NO. 7 WITNESSETH, that, in consideration of the premises and of the
purchase of the Securities by the Holders thereof, and in order to secure the payment of the principal of and premium, if any, and interest, if any, on all Securities from time to time Outstanding and the performance of the covenants contained
therein and in the Indenture and to declare the terms and conditions on which such Securities are secured, the Company hereby grants, bargains, sells, releases, conveys, 

  
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assigns, transfers, mortgages, pledges, sets over and confirms to the Trustee, and grants to the Trustee a security interest in and lien on, the following: 

Granting Clause First 

All right, title and interest of the Company, as of the date of the execution and delivery of this Supplemental Indenture No. 7, in and
to all property (other than Excepted Property), real, personal and mixed, located in the State of Texas or in the State of New Mexico and used or intended to be used in or in connection with the Electric Utility Business (whether or not such use is
the sole use of such property), including all right, title and interest of the Company in and to the following property (other than Excepted Property) so located and so used or intended to be so used: (a) all real property owned in fee,
easements, servitudes, rights of way and other rights and interests in or relating to real property used or intended to be used in or in connection with the Electric Utility Business or relating to the occupancy or use of such real property,
including but not limited to that described in Schedule C hereto; (b) all plants, generators, turbines, engines, boilers, fuel handling and transportation facilities, air and water pollution control and sewage and solid waste disposal
facilities, whether or not control or disposal of such substances is the exclusive function or purpose of such facilities, and other machinery and facilities for the generation of electric energy; (c) all switchyards, lines, towers,
substations, transformers and other machinery and facilities for the transmission of electric energy; (d) all lines, poles, conduits, conductors, meters, regulators and other machinery and facilities for the distribution of electric energy;
(e) all buildings, offices, warehouses and other structures used or intended to be used in or in connection with the Electric Utility Business; (f) all pipes, cables, insulators, ducts, tools, computers and other data processing and/or
storage equipment and other equipment, apparatus and facilities used or intended to be used in or in connection with the Electric Utility Business; (g) any or all of the foregoing properties in the process of construction; and (h) all
other property, of whatever kind and nature, ancillary to or otherwise used or intended to be used in conjunction with any or all of the foregoing or otherwise, directly or indirectly, in furtherance of the Electric Utility Business; 

Granting Clause Second 

Subject to the applicable exceptions permitted by Section 709(d), Section 1203 and Section 1205 of the Original Indenture, all
right, title and interest of the Company in and to all property (other than Excepted Property) of the kind and nature described in Granting Clause First which may be hereafter acquired by the Company, it being the intention of the Company that all
such property acquired by the Company after the date of the execution and delivery of this Supplemental Indenture No. 7 shall be as fully embraced within and subjected to the Lien hereof as if such property were owned by the Company as of the
date of the execution and delivery of this Supplemental Indenture No. 7; 
 Granting Clause Third 

All other property of whatever kind and nature subjected or required to be subjected to the Lien of the Indenture by any of the provisions
thereof; 

  
 3 

 Excepted Property 

Expressly excepting and excluding, however, from the Lien and operation of the Indenture all Excepted Property of the Company, whether now
owned or hereafter acquired; 
 TO HAVE AND TO HOLD all such property, real, personal and mixed, unto the Trustee, its successors in
trust and their assigns forever; 
 SUBJECT, HOWEVER, to (a) Existing Liens, (b) Acquisition Liens, (c) Retained
Interests and (d) any other Permitted Liens; 
 IN TRUST, NEVERTHELESS, for the equal and ratable benefit and security of the
Holders from time to time of all Outstanding Securities without any priority of any such Security over any other such Security; 

PROVIDED, HOWEVER, that the right, title and interest of the Trustee in and to the Mortgaged Property shall cease, terminate and become
void in accordance with, and subject to the conditions set forth in, Article Eight of the Original Indenture; otherwise the Indenture, and the estate and rights thereby granted shall be and remain in full force and effect; and 

THE PARTIES HEREBY FURTHER COVENANT AND AGREE as follows: 

ARTICLE ONE 
 Securities
of Series No. 7 
 There are hereby established the Securities of Series No. 7, which shall have the terms and characteristics
set forth below (the lettered subdivisions set forth below corresponding to the lettered subdivisions of Section 301 of the Original Indenture): 

(a)    the title of the Securities of Series No. 7 shall be “3.75% First Mortgage Bonds, Series No. 7 due
2049”; 
 (b)    the Securities of Series No. 7 shall initially be authenticated and delivered in the
aggregate principal amount of $300,000,000. The Securities of Series No. 7 may be reopened and additional Securities of Series No. 7 may be issued in excess of the amount initially authenticated and delivered, provided that such additional
Securities of Series No. 7 will contain the same terms (including the Stated Maturity and interest payment terms), except for the public offering price, the issue date and, if applicable, the first interest accrual and payment dates, as the
other Securities of Series No. 7. Any such additional Securities of Series No. 7, together with the Securities of Series No. 7 initially authenticated, shall constitute a single series for purposes of the Indenture and shall be
limited to an aggregate principal amount of $800,000,000; 
 (c)    interest on the Securities of Series No. 7
shall be payable to the Persons in whose names such Securities (or one or more Predecessor Securities) are registered at the close of business on the Regular Record Date for such interest, except as otherwise expressly provided in the form of such
Securities attached as Exhibit A hereto; 

  
 4 

 (d)    the principal of the Securities of Series No. 7 shall be
payable on June 15, 2049, the Stated Maturity for Series No. 7; 
 (e)    the Securities of Series No. 7
shall bear interest at a rate of 3.75% per annum; interest shall accrue on the Securities of Series No. 7 from June 18, 2019 or the most recent date to which interest has been paid or duly provided for; the Interest Payment Dates for such
Securities shall be June 15 and December 15 in each year, commencing December 15, 2019 and the Regular Record Dates with respect to the Interest Payment Dates for such Securities shall be June 1 and December 1 in each year,
respectively (whether or not a Business Day); 
 (f)    the Corporate Trust Office of U.S. Bank National Association in
New York, New York shall be the place at which (i) the principal of, premium, if any, and interest, if any, on the Securities of Series No. 7 shall be payable, (ii) registration of transfer of such Securities may be effected,
(iii) exchanges of such Securities may be effected and (iv) notices and demands to or upon the Company in respect of such Securities and the Indenture may be served; and U.S. Bank National Association shall be the Security Registrar for
such Securities; provided, however, that the Company reserves the right to change, by one or more Officer’s Certificates, any such place or the Security Registrar; and provided, further, that the Company reserves the right to designate, by one
or more Officer’s Certificates, its office in Minneapolis, Minnesota as any such place or itself as the Security Registrar; 

(g)    the Securities of Series No. 7 shall be redeemable at the option of the Company at any time prior to their
maturity at the redemption prices specified in the form of such Securities attached as Exhibit A hereto; 

(h)    not applicable; 

(i)    the Securities of Series No. 7 shall be issuable in denominations of $2,000 and integral multiples of $1,000
in excess thereof; 
 (j)    not applicable; 

(k)    not applicable; 

(l)    not applicable; 

(m)    not applicable; 

(n)    not applicable; 

(o)    not applicable; 

(p)    not applicable; 

  
 5 

 (q)    the Securities of Series No. 7 are to be initially
registered in the name of Cede & Co., as nominee for The Depository Trust Company (the “Depositary”). Such Securities shall not be transferable or exchangeable, nor shall any purported transfer be registered, except as
follows: 
  

	 	(i)	 such Securities may be transferred in whole, and appropriate registration of transfer effected, if such
transfer is by such nominee to the Depositary, or by the Depositary to another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor securities depositary or
any nominee thereof; and 

  

	 	(ii)	 such Securities may be exchanged for definitive Securities registered in the respective names of the beneficial
holders thereof, and thereafter shall be transferable without restriction, if: 

  

	 	(A)	 the Depositary, or any successor securities depositary, shall have notified the Company and the Trustee that it
is unwilling or unable to continue to act as securities depositary with respect to such Securities or the Depositary has ceased to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and the Trustee shall not have
been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to such Securities; or 

  

	 	(B)	 the Company shall have delivered to the Trustee a Company Order to the effect that such Securities shall be so
exchangeable on and after a date specified therein; or 

  

	 	(C)	 (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given notice of such
Event of Default pursuant to Section 1002 of the Original Indenture and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of such Securities in respect
thereof will be materially impaired unless such owners become Holders of definitive Securities; 

(r)    not applicable; 

(s)    no service charge shall be made for the registration of transfer or exchange of the Securities of Series
No. 7; provided, however, that the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the exchange or transfer; 

(t)    not applicable; and 
  

	 	(u)	 (i) If the Company shall have caused the Company’s indebtedness in respect of any Securities of Series No.
7 to have been satisfied and discharged prior to the 

  
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Maturity of such Securities, as provided in Section 801 of the Original Indenture, the Company shall, promptly after the date of such satisfaction and discharge, give a notice to each Person
who was a Holder of any of such Securities on such date stating (A)(1) the aggregate principal amount of such Securities and (2) the aggregate amount of any money (other than amounts, if any, deposited in respect of accrued interest on
such Securities) and the aggregate principal amount of, the rate or rates of interest on, and the aggregate fair market value of, any Eligible Obligations deposited pursuant to Section 801 of the Original Indenture with respect to such
Securities and (B) that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an address
specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine the federal income tax consequences to it resulting from the satisfaction and
discharge of the Company’s indebtedness in respect of such Securities. Thereafter, the Company shall, within forty-five (45) days after the end of each calendar year, give to each Person who at any time during such calendar year was a
Holder of such Securities a notice containing (X) such information as may be necessary to enable such Person to report its income, gain or loss for federal income tax purposes with respect to such Securities or the assets held on deposit in
respect thereof during such calendar year or the portion thereof during which such Person was a Holder of such Securities, as the case may be (such information to be set forth for such calendar year as a whole and for each month during such year)
and (Y) a statement to the effect that the Company will provide (and the Company shall promptly so provide) to such Person, or any beneficial owner of such Securities holding through such Person (upon written request to the Company sent to an
address specified in such notice), such other information as such Person or beneficial owner, as the case may be, reasonably may request in order to enable it to determine its income, gain or loss for federal income tax purposes with respect to such
Securities or such assets for such year or portion thereof, as the case may be. The obligation of the Company to provide or cause to be provided information for purposes of income tax reporting by any Person as described in the first two sentences
of this paragraph shall be deemed to have been satisfied to the extent that the Company has provided or caused to be provided substantially comparable information pursuant to any requirements of the Internal Revenue Code of 1986, as amended from
time to time (the “Code”) and United States Treasury regulations thereunder. 

  

	 	(ii)	 Notwithstanding the provisions of subparagraph (i) above, the Company shall not be required to give any
notice specified in such subparagraph or to otherwise furnish any of the information contemplated therein if the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize
income, gain or loss for federal income tax purposes as a result of the satisfaction and discharge of the Company’s indebtedness in respect of such Securities and such Holders will be subject to federal income taxation on the same amounts and
in the same manner and at the same times as if such satisfaction and discharge had not occurred. 

  
 7 

	 	(iii)	 Anything in this clause (u) to the contrary notwithstanding, the Company shall not be required to give any
notice specified in subparagraph (i) or to otherwise furnish the information contemplated therein or to deliver any Opinion of Counsel contemplated by subparagraph (ii) if the Company shall have caused Securities of Series No. 7 to be
deemed to have been paid for purposes of the Indenture, as provided in Section 801 of the Original Indenture, but shall not have effected the satisfaction and discharge of its indebtedness in respect of such Securities pursuant to such Section.

 The Securities of Series No. 7 shall be substantially in the form attached hereto as Exhibit A and shall have
such further terms as are set forth in such form. 
 ARTICLE TWO 

Miscellaneous Provisions 

This Supplemental Indenture No. 7 is a supplement to the Original Indenture. As previously supplemented and further supplemented by this
Supplemental Indenture No. 7, the Original Indenture is in all respects ratified, approved and confirmed, and the Original Indenture, all previous supplements thereto and this Supplemental Indenture No. 7 shall together constitute one and
the same instrument. 
 If any provision of this Supplemental Indenture No. 7 limits, qualifies or conflicts with the duties imposed by
any of Sections 310 to 317, inclusive, of the Trust Indenture Act through operation of Section 318(c), such imposed duties shall control. 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture
No. 7 to be duly executed as of the day and year first above written. 
  

					
	SOUTHWESTERN PUBLIC SERVICE COMPANY
		
	By:	 	 /s/ Sarah W. Soong

		 	Name:	 	Sarah W. Soong
		 	Its:	 	Vice President and Treasurer

  

			
	STATE OF MINNESOTA	    	)
		    	) ss.
	COUNTY OF HENNEPIN	    	)

 This instrument was acknowledged before me on the 11th day of June 2019, by Sarah W. Soong, the Vice President and Treasurer
of Southwestern Public Service Company, a New Mexico corporation, on behalf of said corporation. 
  

	
	/s/ Pamela C. Wilson
	  
 Name: Pamela C. Wilson

	Notary Public, State of Minnesota
	My commission expires: January 31, 2020

 (Seal, if any) 

  
 9 

 
					
	 U.S. BANK NATIONAL ASSOCIATION,
Trustee

		
	By:	 	 /s/ Joshua A. Hahn

		 	Name:	 	Joshua A. Hahn
		 	Its:	 	Vice President

  

			
	STATE OF MINNESOTA	  	)
		  	) ss.
	COUNTY OF RAMSEY	  	)

 This instrument was acknowledged before me on the 11th day of June 2019, by Joshua A. Hahn, a Vice President of U.S. Bank
National Association, a national banking association, on behalf of said national banking association. 
  

	
	/s/ Judy Ann Galberth
	  

Name: Judy Ann Galberth

	Notary Public, State of Minnesota
	My commission expires: January 31, 2021

 (Seal, if any) 

  
 10 

 EXHIBIT A 

FORM OF SECURITY 
 (See
legend at the end of this Security for 
 restrictions on transfer) 

SOUTHWESTERN PUBLIC SERVICE COMPANY 

3.75% First Mortgage Bond, Series No. 7 due 2049 
  

			
	 Original Interest Accrual Date:
	  	[                    ]
	 Interest Rate:
	  	3.75% per annum
	 Stated Maturity:
	  	June 15, 2049
	 Interest Payment Dates:
	  	June 15 and December 15
	 Regular Record Dates:
	  	June 1 and December 1
	 CUSIP No.:
	  	845743 BT9

 This Security is not a Discount Security 

within the meaning of the within-mentioned Indenture 
  

 
  

					
	 Principal Amount
	  	Registered No.	 
	 $        
	  			

 SOUTHWESTERN PUBLIC SERVICE COMPANY, a corporation duly organized and existing under the laws of the State of
New Mexico (herein called the “Company,” which term includes any successor corporation under the Indenture referred to below), for value received, hereby promises to pay to 

, or registered assigns, the principal sum of 
 Dollars on the
Stated Maturity specified above, and to pay interest thereon from the Original Interest Accrual Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the
Interest Payment Dates specified above in each year, commencing December 15, 2019 and at Maturity, at the Interest Rate per annum specified above, until the principal hereof is paid or duly provided for. The interest so payable, and paid or
duly provided for, on any Interest Payment Date shall, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date
specified above (whether or not a Business Day) next preceding such Interest Payment Date. Notwithstanding the foregoing, interest payable at Maturity shall be paid to the Person to whom principal shall be paid. Except as otherwise provided in said
Indenture, any such interest not so paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of Securities of this series not less than 15 days prior to such Special
Record Date, or be paid in such other manner as permitted by the Indenture. 

 Payment of the principal of this Security and interest hereon at Maturity shall be made upon
presentation of this Security at the Corporate Trust Office of U.S. Bank National Association in New York, New York, or at such other office or agency as may be designated for such purpose by the Company from time to time. Payment of interest on
this Security (other than interest at Maturity) shall be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, except that if such Person shall be a securities depositary, such
payment may be made by such other means in lieu of check as shall be agreed upon by the Company, the Trustee and such Person. Payment of the principal of and interest on this Security, as aforesaid, shall be made in such coin or currency of the
United States of America as at the time of payment shall be legal tender for the payment of public and private debts. 
 This Security is
one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and issuable in one or more series under and equally secured by an Indenture, dated as of August 1, 2011 (such Indenture as
originally executed and delivered and as supplemented or amended from time to time thereafter, together with any constituent instruments establishing the terms of particular Securities, being herein called the “Indenture”), between the
Company and U.S. Bank National Association as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a
description of the property mortgaged, pledged and held in trust, the nature and extent of the security and the respective rights, limitations of rights, duties and immunities of the Company, the Trustee and the Holders of the Securities thereunder
and of the terms and conditions upon which the Securities are, and are to be, authenticated and delivered and secured. The acceptance of this Security shall be deemed to constitute the consent and agreement by the Holder hereof to all of the terms
and provisions of the Indenture. This Security is one of the series designated above. 
 If any Interest Payment Date, any Redemption Date
or the Stated Maturity shall not be a Business Day (as hereinafter defined), payment of the amounts due on this Security on such date may be made on the next succeeding Business Day; and, if such payment is made or duly provided for on such Business
Day, no interest shall accrue on such amounts for the period from and after such Interest Payment Date, such Redemption Date or Stated Maturity, as the case may be, to such Business Day. 

This Security shall be redeemable at the option of the Company, in whole or in part, at any time prior to December 15, 2048 (the
“Par Call Date”) at a “make whole” redemption price equal to the greater of (1) 100% of the principal amount of this Security being redeemed or (2) the sum of the present values of the remaining scheduled payments of
principal and interest on this Security, or portion hereof, being redeemed that would be due if this Security matured on the Par Call Date (excluding the portion of any such interest accrued to but excluding the Redemption Date), discounted to but
excluding the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points plus, in
each case, accrued and unpaid interest thereon to but excluding the Redemption 

 
Date. This Security shall be redeemable at the option of the Company at any time on or after the Par Call Date, in whole or in part, at 100% of the principal amount of this Security being
redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date. 
 “Comparable Treasury Issue” means the
U.S. Treasury security selected by an Independent Investment Banker as having a maturity comparable to the remaining term of this Security (assuming, for this purpose, that this Security matured on the Par Call Date) that would be utilized, at the
time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to such remaining term of this Security. 

“Comparable Treasury Price” means with respect to any Redemption Date (1) the average of the Reference Treasury Dealer
Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations for the Redemption Date, or (2) if the Independent Investment Banker obtains fewer than four Reference Treasury Dealer Quotations,
the average of all of such Reference Treasury Dealer Quotations. 
 “Independent Investment Banker” means one of the Reference
Treasury Dealers appointed by the Trustee after consultation with the Company. 
 “Primary Treasury Dealer” means any primary U.S.
Government securities dealer in the United States. 
 “Reference Treasury Dealer” means (1) each of BofA Securities, Inc., or
its affiliates and successors, (2) a Primary Treasury Dealer designated by each of U.S. Bancorp Investments, Inc. and KeyBanc Capital Markets Inc. or each of their respective affiliates and successors, and (3) any other Primary Treasury
Dealer selected by the Company after consultation with an independent investment banker, provided, however, that if any of the foregoing, or any of their respective designees, ceases to be a Primary Treasury Dealer, the Company will appoint another
Primary Treasury Dealer as a substitute. 
 “Reference Treasury Dealer Quotations” means, for any Reference Treasury Dealer and
any Redemption Date, the average, as determined by the Independent Investment Banker, 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 Independent
Investment Banker by the Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding the Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity
of the Comparable Treasury Issue, calculated using a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate will be calculated
on the third Business Day preceding the Redemption Date. 
 If an Event of Default shall occur and be continuing, the principal of this
Security may be declared due and payable in the manner and with the effect provided in the Indenture. 

 The Indenture permits, with certain exceptions as therein provided, the Trustee to enter
into one or more supplemental indentures for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, the Indenture with the consent of the Holders of not less than a majority in aggregate principal
amount of the Securities of all series then Outstanding under the Indenture, considered as one class; provided, however, that if there shall be Securities of more than one series Outstanding under the Indenture and if a proposed supplemental
indenture shall directly affect the rights of the Holders of Securities of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all series
so directly affected, considered as one class, shall be required; and provided, further, that if the Securities of any series shall have been issued in more than one Tranche and if the proposed supplemental indenture shall directly affect the rights
of the Holders of Securities of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly affected, considered as one
class, shall be required; and provided, further, that the Indenture permits the Trustee to enter into one or more supplemental indentures for limited purposes without the consent of any Holders of Securities. The Indenture also contains provisions
permitting the Holders of a majority in principal amount of the Securities then Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As
provided in the Indenture and subject to certain limitations therein set forth, this Security or any portion of the principal amount hereof will be deemed to have been paid for all purposes of the Indenture and to be no longer Outstanding
thereunder, and, at the election of the Company, the Company’s entire indebtedness in respect thereof will be satisfied and discharged, if there has been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in
trust, money in an amount which will be sufficient and/or Eligible Obligations, the principal of and interest on which when due, without regard to any reinvestment thereof, will provide moneys which, together with moneys so deposited, will be
sufficient to pay when due the principal of and interest on this Security when due. 
 As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the corporate office of U.S. Bank National Association in New York, New York, or
such other office or agency as may be designated by the Company from time to time, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder
hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series of authorized denominations and of like tenor and aggregate principal amount, will be issued to the designated transferee or transferees. 

 The Securities of this series are issuable only as registered Securities, without coupons,
and in denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of
Securities of the same series, of any authorized denominations, as requested by the Holder surrendering the same, and of like tenor upon surrender of the Security or Securities to be exchanged at the office of U.S. Bank National Association in New
York, New York, or such other office or agency as may be designated by the Company from time to time. 
 No service charge shall be made for
any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Security is registered as the absolute owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 The Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of New York
(including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute), except to the extent that the Trust Indenture Act of 1939, as then in effect or any
successor statute shall be applicable and except to the extent that the law of any jurisdiction wherein any portion of the property mortgaged pursuant to the Indenture or any indenture supplemental thereto is located shall mandatorily govern the
attachment, perfection, priority or enforcement of the lien of the Indenture and all indentures supplemental thereto with respect to such portion of the mortgaged property. 

As used herein, “Business Day” means any day, other than a Saturday or Sunday, that is not a day on which the offices of the Trustee
in The City of New York, New York, or other city in which is located any office or agency maintained for the payment of principal or interest on this Security, are generally authorized or required by law or executive order to remain closed. All
other terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 As
provided in the Indenture, no recourse shall be had for the payment of the principal of or premium, if any, or interest on any Securities, or any part thereof, or for any claim based thereon or otherwise in respect thereof, or of the indebtedness
represented thereby, or upon any obligation, covenant or agreement under the Indenture, against, and no personal liability whatsoever shall attach to, or be incurred by, any incorporator, shareholder, officer or director, as such, past, present or
future of the Company or of any predecessor or successor corporation (either directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law, or by the
enforcement of any assessment or penalty or otherwise; it being expressly agreed and understood that the Indenture and all the Securities are solely corporate obligations and that any such personal liability is hereby expressly waived and released
as a condition of, and as part of the consideration for, the execution of the Indenture and the issuance of the Securities. 

 Unless the certificate of authentication hereon has been executed by the Trustee or an
Authenticating Agent by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	SOUTHWESTERN PUBLIC SERVICE COMPANY
		
	By:	 	
                     
                                         
       

	Name:	 	Sarah W. Soong
	Its:	 	Vice President and Treasurer

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

Dated:                      

 

			
	 U.S. BANK NATIONAL ASSOCIATION,

                        as
Trustee

 
			
		
	By	 	
                    

	Authorized Officer

 Unless this certificate is presented by an authorized representative of The Depository
Trust Company, a New York Corporation (“DTC”), to the Company or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
 This Security may
not be transferred or exchanged, nor may any purported transfer be registered, except (i) this Security may be transferred in whole, and appropriate registration of transfer effected, if such transfer is by Cede & Co., as nominee for
DTC (the “Depositary”), to the Depositary, or by the Depositary to another nominee thereof, or by any nominee of the Depositary to any other nominee thereof, or by the Depositary or any nominee thereof to any successor securities
depositary or any nominee thereof; and (ii) this Security may be exchanged for definitive Securities registered in the respective names of the beneficial holders hereof, and thereafter shall be transferable without restrictions
if: (A) the Depositary, or any successor securities depositary, shall have notified the Company and the Trustee that it is unwilling or unable to continue to act as securities depositary with respect to the Securities and the Trustee shall
not have been notified by the Company within ninety (90) days of the identity of a successor securities depositary with respect to the Securities; or (B) the Company shall have delivered to the Trustee a Company Order to the effect that
the Securities shall be so exchangeable on and after a date specified therein or (C) (1) an Event of Default shall have occurred and be continuing, (2) the Trustee shall have given notice of such Event of Default pursuant to
Section 1002 of the Original Indenture and (3) there shall have been delivered to the Company and the Trustee an Opinion of Counsel to the effect that the interests of the beneficial owners of such Securities in respect thereof will be
materially impaired unless such owners become Holders of definitive Securities. 
 FOR VALUE RECEIVED the undersigned hereby sells,
assigns and transfers unto 
  

	
	  

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

	
	  
 [please print or
typewrite name and address of assignee]

 the within Security of SOUTHWESTERN PUBLIC SERVICE COMPANY and does hereby irrevocably constitute and appoint
                    , Attorney, to transfer said Security on the books of the within-mentioned Company, with full power of substitution in the
premises. 
 Dated:                     

 Notice: The signature to this assignment must correspond with the name as written upon the face of the Security in every particular without alteration or
enlargement or any change whatsoever. 

 SCHEDULE A 

The Indenture dated as of August 1, 2011, granted by Southwestern Public Service Company to U.S. Bank National Association, Trustee, was
filed with the Secretary of State of the State of Texas on August 2, 2011 as Utility Security Instrument No. 11-0022610194. 

In accordance with Texas Business and Commerce Code Section 261.011, a Notice of Utility Security Instrument Affecting Real Property was
thereafter recorded in each Texas county in which any of the Mortgaged Property consisting of real property was located as of the Effective Date of such Indenture. The following table sets forth recording information relating to the recordation, in
each of the specified Texas counties, of such Notice of Utility Security Instrument Affecting Real Property: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Andrews
	  	8/3/11	  	112770	  	N/A	  	N/A
					
	 Armstrong
	  	8/3/11	  	2011276	  	53	  	790
					
	 Bailey
	  	8/3/11	  	201100016286	  	N/A	  	N/A
					
	 Borden
	  	8/3/11	  	111124	  	N/A	  	N/A
					
	 Briscoe
	  	8/3/11	  	11271	  	N/A	  	N/A
					
	 Carson
	  	8/3/11	  	1100000862	  	N/A	  	N/A
					
	 Castro
	  	8/3/11	  	59278	  	335	  	796
					
	 Cochran
	  	8/3/11	  	13897	  	N/A	  	N/A
					
	 Cottle
	  	8/3/11	  	2011-291	  	194	  	708
					
	 Crosby
	  	8/3/11	  	235843	  	N/A	  	N/A
					
	 Dallam
	  	8/2/11	  	164351	  	149	  	384
					
	 Deaf Smith
	  	8/3/11	  	1493	  	N/A	  	N/A
					
	 Ector
	  	8/3/11	  	201100011005	  	N/A	  	N/A
					
	 Floyd
	  	8/3/11	  	110857	  	N/A	  	N/A
					
	 Foard
	  	8/3/11	  	68419	  	247	  	71
					
	 Gaines
	  	8/3/11	  	20113945	  	N/A	  	N/A
					
	 Garza
	  	8/3/11	  	111229	  	N/A	  	N/A

  
 Schedule A-1 

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Gray
	  	8/3/11	  	019194	  	N/A	  	N/A
					
	 Hale
	  	8/3/11	  	2011002855	  	N/A	  	N/A
					
	 Hansford
	  	8/3/11	  	78454	  	382	  	511
					
	 Hartley
	  	8/3/11	  	100087	  	N/A	  	N/A
					
	 Hemphill
	  	8/3/11	  	059371	  	N/A	  	N/A
					
	 Hockley
	  	8/3/11	  	00002996	  	N/A	  	N/A
					
	 Hutchinson
	  	8/3/11	  	343845	  	1664	  	137
					
	 Lamb
	  	8/3/11	  	1442	  	N/A	  	N/A
					
	 Lipscomb
	  	8/3/11	  	N/A	  	502	  	782
					
	 Lubbock
	  	8/3/11	  	2011026116	  	N/A	  	N/A
					
	 Lynn
	  	8/3/11	  	20112298	  	N/A	  	N/A
					
	 Midland
	  	8/3/11	  	15266	  	N/A	  	N/A
					
	 Moore
	  	8/2/11	  	0176902	  	702	  	18
					
	 Motley
	  	8/3/11	  	N/A	  	102	  	237
					
	 Ochiltree
	  	8/3/11	  	95434	  	N/A	  	N/A
					
	 Oldham
	  	8/3/11	  	11429	  	N/A	  	N/A
					
	 Parmer
	  	8/3/11	  	51211	  	N/A	  	N/A
					
	 Potter
	  	8/2/11	  	01200092	  	N/A	  	N/A
					
	 Randall
	  	8/2/11	  	2011012189	  	N/A	  	N/A
					
	 Roberts
	  	8/3/11	  	044416	  	N/A	  	N/A
					
	 Sherman
	  	8/3/11	  	23551	  	297	  	756
					
	 Swisher
	  	8/3/11	  	2011-0678	  	392	  	314
					
	 Terry
	  	8/3/11	  	252458	  	N/A	  	N/A
					
	 Wheeler
	  	8/3/11	  	N/A	  	640	  	738
					
	 Wilbarger
	  	8/3/11	  	00112766	  	636	  	602
					
	 Yoakum
	  	8/3/11	  	20111463	  	N/A	  	N/A

  
 Schedule A-2 

 The Indenture dated as of August 1, 2011, granted by Southwestern Public Service
Company to U.S. Bank National Association, Trustee, was filed with the Secretary of State of the State of New Mexico on August 2, 2011 under the Public Utility Act, receiving Public Utility Filing No. 599. Concurrently with such filing, a
Uniform Commercial Code financing statement, to which a copy of such Indenture was appended as an exhibit, was filed in the Uniform Commercial Code records of the Secretary of State of the State of New Mexico on August 2, 2011 as UCC Filing
No. 20110012866J. 
 In accordance with New Mexico Statutes Annotated, 1978, Section 62-13-11, a Notice of Filing of Indenture with New Mexico Secretary of State, to which a copy of such Indenture was appended as an exhibit, was thereafter recorded in each New Mexico county in
which any of the Mortgaged Property consisting of real property was located as of the Effective Date of such Indenture. The following table sets forth recording information relating to the recordation, in each of the specified New Mexico counties,
of such Notice of Filing of Indenture with New Mexico Secretary of State: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	8/3/11	  	340593	  	N/A	  	N/A
					
	 Curry
	  	8/3/11	  	110005245	  	N/A	  	N/A
					
	 Eddy
	  	8/3/11	  	1107879	  	N/A	  	N/A
					
	 Lea
	  	8/3/11	  	33578	  	N/A	  	N/A
					
	 Quay
	  	8/3/11	  	201108030006	  	N/A	  	N/A
					
	 Roosevelt
	  	8/3/11	  	20112258	  	N/A	  	N/A

  
 Schedule A-3 

 The following table sets forth recording information relating to the recordation, in each of
the specified New Mexico counties, of a Notice of Filing of Supplemental Indenture with the New Mexico Secretary of State with respect to Supplemental Indenture No. 1: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	8/8/11	  	340698	  	N/A	  	N/A
					
	 Curry
	  	8/8/11	  	110005352	  	N/A	  	N/A
					
	 Eddy
	  	8/8/11	  	1107998	  	N/A	  	N/A
					
	 Lea
	  	8/8/11	  	33734	  	N/A	  	N/A
					
	 Quay
	  	8/8/11	  	201108080003	  	N/A	  	N/A
					
	 Roosevelt
	  	8/8/11	  	20112316	  	N/A	  	N/A

 The following table sets forth recording information relating to the recordation, in each of the specified New
Mexico counties, of a Notice of Filing of Supplemental Indenture with the New Mexico Secretary of State with respect to Supplemental Indenture No. 2: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	6/18/14	  	389726	  	N/A	  	N/A
					
	 Curry
	  	6/18/14	  	157778190	  	N/A	  	N/A
					
	 Eddy
	  	6/18/14	  	1824479	  	N/A	  	N/A
					
	 Lea
	  	6/18/14	  	39612	  	N/A	  	N/A
					
	 Quay
	  	6/18/14	  	20149266515	  	N/A	  	N/A
					
	 Roosevelt
	  	6/18/14	  	20141875	  	N/A	  	N/A

  
 Schedule A-4 

 The following table sets forth recording information relating to the recordation, in each of
the specified New Mexico counties, of a Notice of Filing of Supplemental Indenture with the New Mexico Secretary of State with respect to Supplemental Indenture No. 3: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	6/18/14	  	389727	  	N/A	  	N/A
					
	 Curry
	  	6/18/14	  	157778191	  	N/A	  	N/A
					
	 Eddy
	  	6/18/14	  	1824480	  	N/A	  	N/A
					
	 Lea
	  	6/18/14	  	39613	  	N/A	  	N/A
					
	 Quay
	  	6/18/14	  	20149266516	  	N/A	  	N/A
					
	 Roosevelt
	  	6/18/14	  	20141876	  	N/A	  	N/A

 The following table sets forth recording information relating to the recordation, in each of the specified New
Mexico counties, of a Notice of Filing of Supplemental Indenture with the New Mexico Secretary of State with respect to Supplemental Indenture No. 4: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	8/19/16	  	407833	  	N/A	  	N/A
					
	 Curry
	  	8/19/16	  	189674134	  	N/A	  	N/A
					
	 Eddy
	  	8/19/16	  	22399408	  	N/A	  	N/A
					
	 Lea
	  	8/19/16	  	411897	  	N/A	  	N/A
					
	 Quay
	  	8/19/16	  	20167359981	  	N/A	  	N/A
					
	 Roosevelt
	  	8/19/16	  	20162074	  	N/A	  	N/A

  
 Schedule A-5 

 The following table sets forth recording information relating to the recordation, in each of
the specified New Mexico counties, of a Notice of Filing of Supplemental Indenture with the New Mexico Secretary of State with respect to Supplemental Indenture No. 5: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	8/17/17	  	410921	  	N/A	  	N/A
					
	 Curry
	  	8/17/17	  	202655927	  	N/A	  	N/A
					
	 Eddy
	  	8/17/17	  	28402333	  	N/A	  	N/A
					
	 Lea
	  	8/17/17	  	422035	  	N/A	  	N/A
					
	 Quay
	  	8/17/17	  	20176648665	  	N/A	  	N/A
					
	 Roosevelt
	  	8/17/17	  	20174088	  	N/A	  	N/A

 The following table sets forth recording information relating to the recordation, in each of the specified New
Mexico counties, of a Notice of Filing of Supplemental Indenture with the New Mexico Secretary of State with respect to Supplemental Indenture No. 6: 
  

									
	 COUNTY
	  	DATE	  	RECEPTION NUMBER	  	BOOK/FILM	  	PAGE
	 Chaves
	  	11/9/2018	  	421224	  	N/A	  	N/A
					
	 Curry
	  	11/9/2018	  	238400985	  	N/A	  	N/A
					
	 Eddy
	  	11/9/2018	  	30117445	  	N/A	  	N/A
					
	 Lea
	  	11/9/2018	  	428097	  	N/A	  	N/A
					
	 Quay
	  	11/9/2018	  	2018742751	  	N/A	  	N/A
					
	 Roosevelt
	  	11/9/2018	  	20188167	  	N/A	  	N/A

  
 Schedule A-6 

 SCHEDULE B 
  

											
	 Date of
 Supplemental

Indenture       
	  	Series of Bonds	  	Principal Amount
Issued	 	  	Principal Amount
Outstanding	 
	 August 3, 2011
	  	1	  	$	400,000,000	 	  	$	400,000,000	 
	 June 1, 2014
	  	2	  	$	250,000,000	 	  	$	0	 
	 June 1, 2014
	  	3	  	$	350,000,000	 	  	$	350,000,000	 
	 August 1, 2016
	  	4	  	$	300,000,000	 	  	$	300,000,000	 
	 August 1, 2017
	  	5	  	$	450,000,000	 	  	$	450,000,000	 
	 October 1, 2018
	  	6	  	$	300,000,000	 	  	$	300,000,000	 

  
 Schedule B-1 

 SCHEDULE C 

DESCRIPTION OF PROPERTY 
 The property
referred to in Granting Clause Second of the Indenture includes, without limitation, the Company’s right, title and interest in and to the Lands and Water Rights in the State of Texas and the State of New Mexico described below, together with
all property related, used or appurtenant thereto of the kind and nature described in Granting Clause First (other than Excepted Property). 

THE FOLLOWING PROPERTIES ARE IN THE STATE OF TEXAS 

The property referred to in Granting Clause Second of the Indenture includes, without limitation, the Company’s right, title and interest in and to the
land acquired by the Company and described in the following deed into the Company and referenced recorded documents (the “Lands”), together with all property related, used or appurtenant thereto of the kind and nature described in
Granting Clause First (other than Excepted Property) (the “Property Accessions”): 
 Carson County, Texas 

 

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 5257
	  	Buck	  	Document No. 2019-00000223, and Volume 709, Page 133 et seq., Official Public Records, Carson County, Texas executed by Kelly D. Ramming and dated February 25, 2019, and recorded February 26,
2019, and Correction General Warranty Deed recorded at Document No. 2019-00000569, and Volume 713, Page 332 et seq., Official Public Records, Carson County, Texas executed by Kelly D. Ramming and dated as of February 25,
2019, and recorded May 22, 2019,

 as to the following property: 

A 2.43 +/- acre tract of land out of Section 18, Block 4, I&GN RR Co. Survey, Carson County, Texas further being out of a tract of
land described in that certain instrument recorded in Volume 611, Page 85, as filed in the Office of the County Clerk of Carson County, Texas, on the ground by Furman Land Surveyors, Inc. and being described by metes and bounds as follows: 

(Bearings and Distances are Grid UTM Coordinate System-Zone 14N, NAD (1983) using GPS relative positioning techniques based on a OPUS
solution on October 4, 2018 Combined Scale Factor = 0.99992773) 
 BEGINNING at a 3/4 inch iron rod with aluminum cap stamped
“Furman Land Surveyors Section Corner Firm No. 10092400” set for the Southeast corner of said Section 18, same being the common corner of Sections 18, 19, 4 and 5, Block 4, I&GN RR Co. Survey, from whence a 1 1/4 inch iron
pipe found for the Northeast corner of said Section 18 bears N. 01° 25’ 56” E. (Base Line) 5332.96; 

  
 Schedule C-1 

 THENCE, N. 89° 15’ 19” W. 325.18 feet along the South line of said
Section 18, same being the North line of said Section 5, to a point for the Southwest corner of this tract of land; 
 THENCE, N.
01° 25’ 56” E. at 30.00 feet a 1/2 inch iron rod with cap stamped “Furman RPLS” set in the North Right-of-Way line of County Road 20 (per County
Official), a total distance of 325.18 feet, to a 1/2 inch iron rod with cap stamped “Furman RPLS” set for the Northwest corner of this tract of land; 

THENCE, S. 89° 15’ 19” E. at 295.18 feet a 1/2 inch iron rod with cap stamped “Furman RPLS” set in the West Right-of-Way line of County Road Y (per County Official), a total distance of 325.18 feet, to a point in the East line of said Section 18, same being the West line of
said Section 19, for the Northeast corner of this tract of land; 
 THENCE, S. 01° 25’ 56” W. 325.18 feet along the East
line of said Section 18, to the POINT OF BEGINNING, 
 containing 2.43+/- acres (of which 0.43
+1- acres in roadway, for a net acreage of 2.00 acres, more or less). 
 Deaf Smith County,
Texas 
  

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 158
	  	Dawn Substation	  	Document No. 16-0325, Official Public Records, Deaf Smith County, Texas, dated February 21, 1996, and recorded February 18, 2016, executed by James E. McCabe

 as to the following described property: 

A parcel of land, located in the NE 1⁄4 of the NE 1/4 of
Section 21, Block 3, Adams, Beaty and Moulton survey being part of a tract conveyed to James E. McCabe as recorded in Volume 216, Page 614 of the Deaf Smith County records, and being more particularly described as follows: 

COMMENCING at the southeast corner of the NE 1⁄4 of said
Section 21, a found 1” iron Pipe; 
 THENCE, N. 0° 15’ 13” E. along the east line of the NE 1⁄4 off said Section 21, a distance of 1423.25 feet to a set 1/2 “ rebar with an aluminum cap, the true POINT OF BEGINNING of this survey, said point being the
southeast corner of said surveyed parcel; 
 THENCE, N. 89° 44’ 47” W., perpendicular to the east line of the NE 1/4 of said Section 21, a distance of 228.00 feet to a set 1/2” rebar with an aluminum cap, the southwest corner of said surveyed
parcel; 
 THENCE, N. 0° 15’ 13” E., parallel with the east line of the NE 1⁄4 of said Section 21, a distance of 242.00 feet to a set 1/2” rebar with as aluminum cap, the northwest corner of said surveyed parcel; 

THENCE, S. 89° 44’ 47” E., perpendicular to the east line of the N 1⁄4 of said Section 21, a distance of 228.0 feet to a set 1/2” rebar with an aluminum cap on the east line of the NE 1⁄4
of said Section 21, the northeast corner of said surveyed parcel; 

  
 Schedule C-2 

 THENCE, S. 0° 15’ 13” W., along the east line of the NE 1⁄4 of said Section 21, a distance of 242.00 feet to the POINT OF BEGINNING, 

containing 1.267 acres, more or less. 

  
 Schedule C-3 

 Hansford County, Texas 

 

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 5154
	  	Hitchland Substation	  	Volume 361, Page 707 et seq., Deed Records, Hansford County, Texas, dated December 23, 2008, and recorded April 16, 2009, executed by Hitch Land & Cattle Company

 as to the following described property: 

A 5.560 ± acre tract of land located in Section 10, Block 1, Public Free School Land Survey, Hansford County, Texas, and being
described by metes and bounds as follows: 
 COMMENCING at a 5/8” iron rod found with cap stamped TX 4290, the Northeast Corner of said
Section 10; 
 THENCE, S. 21° 59’ 12” W., a distance of 1,590.82 feet to a point, the Northeast corner and POINT OF
BEGINNING of this tract; 
 THENCE, South a distance of 301.27 feet to a point; 

THENCE, North, a distance of 304.21 feet to a point; 

THENCE, S. 89° 54’ 12” E., a distance of 800.00 feet to the POINT OF BEGINNING of this tract; 

containing a computed area of 5.560 acres (242,190 s. ft.), more or less. 

Moore County, Texas 
  

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 765
	  	Dumas South	  	Volume 95, Page 10 et seq., Deed Records, Moore County, Texas, dated August, 26, 1946, and recorded August 29, 1946, executed by West Texas Utilities Company, save and except partial divesting deed to City of Dumas
recorded at Volume 97, Page 560 et seq., Deed Records, Moore County, Texas, dated May 15, 1947, and recorded May 16, 1947,

 as to the East half of Lots 13 through 18, Block 162, Town of Dumas, Moore County, Texas. 

  
 Schedule C-4 

 Randall County, Texas 

 

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 5251
	  	Outpost Substation Parcel 2	  	Document No. 2018018739, Official Public Records, Randall County, Texas, dated August 31, 2008, and recorded October 23, 2018, executed by Mary Ann Lane Holton

 as to the following described property: 

A 2.49 +/- acre tract of land out of the Southeast Quarter of Section 176, Block 9, B.S. & F. RR. Co. Survey, Randall County, Texas,
further being out of that certain tract of land described in that certain instrument recorded in Clerk’s File No. 2005009719 of the Official Public Records of Randall County, Texas, said property having been surveyed on the ground by
Furman Land Surveyors, Inc. and being described by metes and bounds as follows: 
 (Bearings and Distances are Grid UTM Coordinate
System-Zone 14 North, NAD (1983) using GPS relative positioning techniques based on an OPUS on July 29, 2016. Combined Scale Factor =1.00038038) 

COMMENCING at a 1/2 inch iron rod with aluminum cap found for the Southeast corner of said Section 176, same being the common corner of
Sections 175, 176, 165 & 166, Block 9, from whence a 1/2 inch iron rod with aluminum cap found for the Northeast corner of said Section 176 bears N. 01° 53’ 20” E. (Base Line) 5404.95 feet; 

THENCE, N. 88° 14’ 01” W. 50.02 feet along the common line of said Sections 175 and 176 to a 1/2 inch iron rod with cap stamped
“FURMAN RPLS” set in the West Right-of-Way line of Bushland Road described in that certain instrument recorded in Volume 258, Page 9 as filed in the Official
Public Records of Randall County, Texas, same being the Southeast and BEGINNING CORNER of this tract of land; 
 THENCE, N. 88° 14’
01” W. 230.09 feet along the common line of said Sections 175 and 176 to a 1/2 inch iron rod with cap found for the Southeast corner of that certain 5.10 +/- acre tract of land described in that certain instrument recorded. in Clerk’s File
No. 2016023092, same being the Southwest corner of this tract of land; 
 THENCE, N. 01° 53’ 20” E. 471.51 feet along the
East line of said 5.10 +/- acre tract of land to a 1/2 inch iron rod with cap found for the Northeast corner of said 5.10 +/- acre tract of land, same being the Northwest corner of this tract of land; 

THENCE, S. 88° 14’ 01” E. 230.09 feet to a 1/2 inch iron rod with cap stamped “FURMAN RPLS” set in the West Right-of-Way line of Bushland Road, same being the Northeast corner of this tract of land; 

THENCE, S. 01° 53’ 20” W. 471.51 feet along the said West
Right-of-Way line of Bushland Road to the POINT OF BEGINNING, and 

containing 2.49 acres of land, more or less. 

  
 Schedule C-5 

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 5255
	  	Hunsley Substation	  	Document No. 2019001317, Official Public Records, Randall County, Texas executed by Richard Ley Flenniken, Jr., Sally Flenniken Geymuller and Susan Ley Flenniken and dated January 18, 2019 and recorded
January 24, 2019

 as to the following property: 

A ±7.95 acre tract of land out of Section 30, Block B5, H. & G.N. Survey, Randall County, Texas further being out of that tract
of land described in that certain instrument recorded in Volume 712, Page 361, as filed in the Office of the County Clerk of Randall County, Texas, said tract of land having been surveyed on the ground by Furman Land Surveyors, Inc. and being
described by metes and bounds as follows: 
 (Bearings and Distances are Grid UTM Coordinate System-Zone 14N, NAD (1983) using GPS
relative positioning techniques based on an OPUS solution from April 29, 2016. Combined Scale Factor = 1.00035809) 
 BEGINNING at a
point, from whence the Northeast corner of said Section 30 bears S. 87° 58’ 08” E. 47.70 feet, same being the common corner of Sections 30, 3, 2 and 31 Block B5, H. & G.N. Survey, Randall County, from said Northeast Section
corner, a 1/2 inch iron pipe found for the Northwest corner of said Section 30 bears N. 87° 58’ 08” W. 5305.20 feet; 

THENCE, S. 02° 04’ 29” W. along the East
Right-of-Way line of FM 2590, as described in that certain instrument recorded in Volume 247, Page 298, as filed in the Office of the County Clerk of Randall County,
Texas, at 30.00 feet a 1/2 inch iron rod with cap stamped “Furman RPLS” set as an offset corner in the South Right-of-Way line of Hunsley Road, as it exist on
the ground, a total distance of 796.09 feet, to an “X” found for the Southeast corner of this tract of land, same being an offset corner for that certain 7.866 acre tract of land, described in that certain instrument recorded in Document
No. 2018018532, as filed in the Office of the County Clerk of Randall County, Texas; 
 THENCE, N. 87° 56’ 36” W. (Base
Line) 435.25 feet along the North line of said 7.866 acre tract of land, to a 1/2 inch iron rod with cap stamped “Furman RPLS” set for the Southwest corner of this tract of land, from whence a 1/2 inch iron rod with cap found for the
Southwest corner of that certain 6.668 acre tract of land, described in that certain instrument recorded in Document No. 02-6508, as filed in the Office of the County Clerk of Randall County, Texas, bears
N. 87° 56’ 36” W. 1028.12 feet; 
 THENCE, N. 02° 04’ 29” E. at 735.89 feet a 1/2 inch iron rod with cap stamped
“Furman RPLS” set as an offset corner in the South Right-of-Way line of Hunsley Road, as it exist on the ground, a total distance of 795.89 feet to a point in
the North line of said Section 30, same being the South line of said Section 3, for the Northwest corner of this tract of land; 

THENCE, S. 87° 58’ 08” E. 435.25 feet along the North line of said of said Section 30, to the POINT OF BEGINNING, 

containing ±7.95 acres, (of which ±0.30 acres in roadway, for a net acreage of 7.65 acres, more or less). 

  
 Schedule C-6 

 Yoakum County, Texas 

 

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 5256
	  	Int. Parcel 4	  	Document No. 2019-0526, Real Property Records, Yoakum County, Texas, being a Statutory Correction Affidavit dated February 8, 2019, and recorded February 13, 2019, as to Deed recorded at Document
No. 2018-3722, Real Property Records, Yoakum County, Texas, and dated July 10, 2018, recorded on October 9, 2018, as to original instrument executed by Larry P. Bade and Karen S. Bade as Trustees of the Larry P. Bade and Karen S. Bade
Revocable Trust dated August 6, 1991,

 as to the following described property: 

A 12.01 acre tract of land out of Section 551, Block D, John H. Gibson Survey, Yoakum County, Texas, further being out of a tract of land
described in that certain instrument recorded in Volume 256, Page 494, as filed in the Office of the County Clerk of Yoakum County, Texas, said tract of land having been surveyed on the ground by Furman Land Surveyors, Inc. and being described by
metes and bounds as follows: 
 (Bearings and Distance are Grid UTM Coordinate System-Zone 13N, NAB (1983) using GPS relative
positioning techniques based on multiple OPUS solutions from April 6, 2016 through February 21, 2017, Combined Scale Factor = 0.99997573) 

COMMENCING at 1-1/4-inch iron pipe found and accepted for the
Southwest corner of said Section 551, same being the common corner of Sections 551, 568, 569 and 550, Block D, John H. Gibson Survey, Yoakum County, from whence a spindle found for the Southeast corner of said Section 551 bears N. 88°
52’ 33” E. (Base Line) 5287.30 feet; 
 THENCE, N. 88° 52’ 33“E. 979.91 feet along the South line of said
Section 551, same being the North line of said Section 568, to a 3/8 inch iron rod found for the Southeast corner of an existing Southwestern Public Service Company substation, and being described in that certain instrument recorded in
Document No. 2011-1978, as filed in the Office of the County Clerk of Yoakum County, Texas, same being the BEGINNING CORNER of this tract of land; 

THENCE, N. 01° 00’ 10” W. 880.07 feet along the East line of said substation, to a 3/8 inch iron found for the Northeast corner
of this tract; 
 THENCE, S. 88° 52’ 23“W. 988.67 feet along the North line of said substation tract, same being in the West
line of said Section 551, same being the East line of said Section 550; 

  
 Schedule C-7 

 THENCE, N. 00° 55’ 22” W. 384.97 feet along the common line of said Sections
551 and 550 to a 1/2 inch iron rod with cap stamped “FURMAN RPLS” set for the Northwest corner of this tract of land; 
 THENCE,
N. 88° 52’ 23” E. 599.51 feet to a 1/2 inch iron rod with. cap stamped “FURMAN RPLS” set; 
 THENCE, S. 01°
00’ 10” E. 345.86 feet to a 1/2 inch iron rod with cap stamped “FURMAN RPLS” set; 
 THENCE, N. 88° 52’
23” E. 690.01 feet to a 1/2 inch iron rod with cap stamped “FURMAN RPLS” set; 
 THENCE, S. 01° 00’ 10” E.
919.19 feet to a 1/2 inch iron rod with cap stamped “FURMAN RPLS” set in the South line of Section 551; and 
 THENCE, S.
88° 52’ 33” W. 301.40 feet to the POINT OF BEGINNING, 
 containing 12.01 acres, more or less. 

Corrections 
 The descriptions of the
following properties, which are described in the Indenture, are corrected and revised as set out below: 
 Bailey County 

SPS 5242 Blue Cloud Substation: 
  

					
	 SPS Id. No.
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 5242
	  	Blue Cloud Substation	  	Document No. 2017-22453, and Volume 321, Page 79 et seq., Official Public Records, Bailey County, Texas executed by Blue County Wind Energy, LLC and dated September 29, 2017, and recorded
October 16, 2017

 as to the following property: 

An 11.90 acres, more or less, tract of land out of Labor 24, League 209, Deaf Smith County School Land, Bailey County, Texas described by metes
and bounds as follows: 
 BEGINNING at a 1⁄2 inch iron
rod with cap found in the intersection of F. M. Highway 298 and a graded county road for the Northeast corner of Labor 24 and the Northeast corner of this tract; 

THENCE, S. 0° 08’ W. with the East line of Labor 24 a distance of 720.00 feet to the Southeast corner of this tract; 

THENCE, N. 89° 29’ W., at 25.00 feet pass a 1⁄2
inch steel rod with cap (TX No. 5020) set in reference continuing a total distance of 720.00 feet to a 1⁄2 inch steel rod with cap (TX No. 5020) set for
the Southwest corner of this tract; 

  
 Schedule C-8 

 THENCE, N. 0° 08’ E., at 680.00 feet pass a
1⁄2 inch steel rod with cap (TX No. 5020) set in the South right-of-way line of
said highway as recorded in Volume 52, Page 41 of the Deed Records of Bailey County, Texas continuing a total distance of 720.00 feet to the Northwest corner of this tract in the North line of Labor 24; 

THENCE, S. 89°29’ E. a distance of 720.00 feet to the POINT OF BEGINNING; and 

containing 11.90 acres, more or less. 

Lubbock County, Texas 
 SPS 712 Elbert
Substation: 
  

					
	 SPS Id. No.

(RS Id. No.)
	  	 Common Name
	  	 Deed into Southwestern Public

Service Company Recorded at

	 712

(32-53)
	  	Elbert Substation	  	 Volume 763, Page 558 et seq.,
 Deed
Records, Lubbock County, Texas, executed by Myrtle Gosnell Edwards, a widow, Alton D. Edwards and wife, Garnetta Edwards, James W. Edwards and wife, Dorothy Fay Edwards, Anna Bell Luman and husband, N.J. Luman, Frances Lavern Roberts and husband
Earl D. Roberts, and Jorita Lamberson and husband, Wylie Lamberson, dated July 28, 1959 and recorded October 10, 1959

 as to the following property: 

All that certain tract or parcel of land situated in Lubbock County, Texas, and being a 60 x 120 foot tract of land located in Section Nineteen
(19), Block Twenty-Four (24), Lubbock County, Texas, described by metes and bounds as follows: 
 BEGINNING at the intersection of the South
right-of-way line of U.S. Highway #84, with the West right-of-way line of 7th Street, as shown on plat of the “South Park Heights Addition” to the City of Slaton, Texas; 

THENCE, South in the West line of 7th Street a distance of 60 feet; 

THENCE, West 120 feet; 
 THENCE,
North 60 feet; and 
 THENCE, East 120 feet to the PLACE OF BEGINNING, 

which property is further identified as “South Park 60’ x 120’ of Tract 1” per a plat filed in Volume 26, Page 59, Official
Public Records of Lubbock County, Texas and titled South Park Heights Acreage Tracts, an Addition to Slaton, Lubbock County, Texas, according to the records of the Lubbock County Tax Appraisal District. 

  
 Schedule C-9 

 SPS 5250 Quincy Substation: The reference to the date of recording of the Deed into Southwestern
Public Service Company of the property described in the Indenture as “SPS 5250 Quincy Substation” in Lubbock County, Texas is hereby corrected to read “recorded January 18, 2018”. 

  
 Schedule C-10FORM OF

    RESTRICTED STOCK AWARD AGREEMENT

    

    

    Granted by

    

    

    RIVERVIEW FINANCIAL CORPORATION

    

    

    under the

    

    

    RIVERVIEW FINANCIAL CORPORATION

    2019 EQUITY INCENTIVE PLAN

    

    

    This restricted stock award agreement (“Restricted Stock Award” or “Agreement”) is and will be subject in every respect to the provisions of
        the 2019 Equity Incentive Plan (the “Plan”) of Riverview Financial Corporation (the “Company”) which are incorporated herein by reference and made a part hereof, subject to the provisions of this Agreement.  A copy of the Plan and a Plan prospectus have been provided or made
        available to each person granted a Restricted Stock Award pursuant to the Plan.  The holder of this Restricted Stock Award (the “Participant”)
        hereby accepts this Restricted Stock Award, subject to all the terms and provisions of the Plan and this Agreement, and agrees that all decisions under and interpretations of the Plan and this Agreement by the committee responsible for
        administering the Plan (the “Committee”) will be final, binding and conclusive upon the Participant and the Participant’s heirs, legal
        representatives, successors and permitted assigns.  Except where the context otherwise requires, the term “Company” will include the parent and all present and future subsidiaries of the Company as defined in Section 424(e) and 424(f) of the
        Internal Revenue Code of 1986, as amended from time to time (the “Code”).  Capitalized terms used herein but not defined will have the same
        meaning as in the Plan.  Any reference to the “Bank” herein shall refer to Riverview Bank and any reference to “Employer” shall mean either or both the Company and the Bank.

    1.   Name of Participant___________________________

    2.                  Date of Grant: _______________________________

      

    3.    Total number of shares of Company common stock, no par value per share, covered by the Restricted Stock Award:
          ________________

        (subject to adjustment pursuant to Section 9 hereof).

    4.    Vesting Schedule.  Except as otherwise provided in
        this Agreement, this Restricted Stock Award first becomes earned in accordance with the vesting schedule specified herein.

    

    

    The Restricted Stock granted under this Agreement shall vest in ___ (__) equal annual
        installments, with the first installment vesting on the first anniversary of the date of grant, or __________, 20__, and succeeding installments on each anniversary thereafter, through _________, 20__, subject to accelerated vesting under Section 8
        and 10 of this Agreement.  To the extent the Restricted Stock awarded are not equally divisible by “___,” any excess Restricted Stock shall vest on _________, 20__.

     

      

    
      
        

    

    Vesting will automatically accelerate pursuant to Sections 2.9 and 4.1 of the Plan (in the event
        of death, Disability or Involuntary Termination at or following a Change in Control).

    5. Grant of Restricted Stock Award.

    

    

    The Restricted Stock Award will be in the form of issued and outstanding shares of Stock that will
        be either registered in the name of the Participant and held by the Company, together with a stock power executed by the Participant in favor of the Company, pending the vesting or forfeiture of the Restricted Stock, or registered in the name of,
        and delivered to, the Participant.  Notwithstanding the foregoing, the Company may, in its sole discretion, issue Restricted Stock in any other format (e.g., electronically) in order to facilitate the paperless transfer of such Awards.

    If certificated, the certificates evidencing the Restricted Stock Award will bear a legend
        restricting the transferability of the Restricted Stock.  The Restricted Stock awarded to the Participant will not be sold, encumbered hypothecated or otherwise transferred except in accordance with the terms of the Plan and this Agreement.

    
      
        	6.	
                Terms and Conditions.

              

      

    

    
      
        	

              	6.1	
                The Participant will have the right to vote the shares of Restricted Stock awarded hereunder on matters which require shareholder vote.

              

      

    

    
      
        	

              	6.2	
                Any cash dividends or distributions declared with respect to shares of Stock subject to the Restricted Stock Award will be retained and distributed to the
                    Participant within thirty (30) days after the Restricted Stock vests.  If the Restricted Stock does not vest, the dividends will be forfeited by the Participant.  No dividend will be paid with respect to any Restricted Stock Award
                    subject to performance-based vesting conditions unless and until the Participant vests in such Restricted Stock Award.  Any stock dividends declared on shares of Stock subject to a Restricted Stock Award will be subject to the same
                    restrictions and will vest at the same time as the shares of Restricted Stock from which said dividends were derived.

              

      

    

    
      
        	

              	7.	
                Delivery of Shares.

              

      

    

    Delivery of shares of Stock under this Restricted Stock Award will comply with all applicable laws (including, the
        requirements of the Securities Act), and the applicable requirements of any securities exchange or similar entity.

    

    

    8. Change in Control.

    

    

    
      
        	

              	8.1	
                In the event of an Involuntary Termination at or following a Change in Control, all Restricted Stock Awards held by the Participant will become fully vested.

              

      

    

    

    

    
      
        	

              	8.2	
                A “Change in Control” will be deemed to have occurred
                    as provided in Section 4.2 of the Plan.

              

      

    

    

    

    
      
        

    

    9. Adjustment Provisions.

    This Restricted Stock Award, including the number of shares subject to the
        Restricted Stock Award, will be adjusted upon the occurrence of the events specified in, and in accordance with the provisions of, Section 3.4 of the Plan.

    10. Effect of Termination of Service on Restricted Stock Award.

    10.1 This Restricted Stock Award will vest as follows:

    
      	
              (i)

            	
              Death. 
                  In the event of the Participant’s Termination of Service by reason of the Participant’s death, all Restricted Stock will vest as to all shares subject to an outstanding Award, whether or not then vested, at the date of Termination of
                  Service.

            

    

    
      	
              (ii)

            	
              Disability.  In the event of the Participant’s Termination of Service by reason of
                    Disability, all Restricted Stock will vest as to all shares subject to an outstanding Award, whether or not then vested, at the date of Termination of Service.

            

    

    
      	
              (iii)

            	
              Retirement. 

                  In the event of the Participant’s Termination of Service by reason of the Participant’s Retirement, any Restricted Stock that has not vested as of the date of Termination of Service will expire and be forfeited.  The term “Retirement”
                  shall have the meaning set forth in Section 8.1(cc) of the Plan.

            

    

    
      	
              (iv)

            	
              Termination
                    for Cause.  If the Participant’s Service has been terminated for Cause, all Restricted Stock granted to a Participant that
                  has not vested will be forfeited.

            

    

    
      	
              (v)

            	
              Other Termination.  If a Participant terminates Service for any reason other than due to death, Disability, Retirement, Involuntary Termination at or
                  following a Change in Control or for Cause, all shares of  Restricted Stock awarded to the Participant which have not vested as of the date of Termination of Service will be forfeited.

            

    

    11. Miscellaneous.

   

    

  
    
      
        	

              	11.1	
                No Restricted Stock Award will confer upon the Participant any rights as a stockholder of the Company prior to the date on which the individual fulfills all
                    conditions for receipt of such rights.

              

      

    

    
      
        	

              	11.2	
                This Agreement may not be amended or otherwise modified unless evidenced in writing and signed by the Company and the Participant.

              

      

    

    
      
        	

              	11.3	
                Restricted Stock Awards are not transferable prior to the time such Awards vest in the Participant.

              

      

    

    
      
        	

              	11.4	
                This Restricted Stock Award will be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.

              

      

    

    
      
        	

              	11.5	
                This Restricted Stock Award is subject to all laws, regulations and orders of any governmental authority which may be applicable thereto and, notwithstanding
                    any of the provisions hereof, the Company will not be obligated to issue any shares of stock hereunder if the issuance of such shares would constitute a violation of any such law, regulation or order or any provision thereof.

              

      

    

    [Signature page follows]

    

    

    
      
        

    

    IN WITNESS WHEREOF, the Company has caused this Agreement to be executed in its name and on its
        behalf as of the date of grant of this Restricted Stock Award set forth above.

    RIVERVIEW FINANCIAL CORPORATION

    By:____________________________

      

     

      

    Its:____________________________  -- 

     

      

             PARTICIPANT’S ACCEPTANCE

    The undersigned hereby accepts the foregoing Restricted Stock Award and agrees to the terms and
        conditions hereof, including the terms and provisions of the 2019 Equity Incentive Plan.  The undersigned hereby acknowledges receipt of a copy of the Company’s 2019 Equity Incentive Plan.

    PARTICIPANT

     

      

    ________________________________

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