Document:

The Company's Unfunded Supplemental Executive Retirement Plan

 Exhibit 10.34 
 Avista Corporation 
 Supplemental Executive Retirement Plan 
 (2005 Component) 
 Effective
January 1, 2005 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE 1. PURPOSE AND INTENT OF PLAN	  	1
	      1.1	  	Purpose.	  	1
	1.2	  	Intent.	  	1
		
	ARTICLE 2. DEFINITIONS	  	1
		
	ARTICLE 3. ELIGIBILITY	  	5
		
	ARTICLE 4. BENEFITS	  	6
	4.1	  	Amount of Benefits.	  	6
	4.2	  	Reduction for Early Retirement.	  	7
	4.3	  	Form of Benefit Payments.	  	7
	4.4	  	Time of Benefit Payments.	  	8
	4.5	  	Employee Election of Form and Time of Benefit Payments.	  	8
	4.6	  	Benefits Unfunded.	  	8
		
	ARTICLE 5. ADMINISTRATION	  	9
	5.1	  	Duties of Administrator.	  	9
	5.2	  	Administration Upon Change In Control.	  	9
	5.3	  	Finality of Decisions.	  	9
	5.4	  	Benefit Forfeiture Prior to a Change in Control.	  	9
		
	ARTICLE 6. CLAIMS PROCEDURES	  	10
	6.1	  	Presentation of Claim.	  	10
	6.2	  	Notification of Decision.	  	10
	6.3	  	Review of a Denied Claim.	  	10
	6.4	  	Decision on Review.	  	11
	6.5	  	Legal Action.	  	11
		
	ARTICLE 7. AMENDMENT AND TERMINATION	  	11
	7.1	  	Termination.	  	11
	7.2	  	Amendment.	  	11
		
	ARTICLE 8. MISCELLANEOUS	  	12
	8.1	  	Unsecured General Creditor.	  	12
	8.2	  	No Employment Rights.	  	12
	8.3	  	Assignment.	  	12
	8.4	  	Law Applicable.	  	12
	8.5	  	Terms.	  	12

  

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 AVISTA CORPORATION 
 SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN 
 (2005 Component) 
 Effective January 1, 2005 
 ARTICLE 1. 
 Purpose and Intent of Plan 
  

	1.1	Purpose. This Avista Corporation Supplemental Executive Retirement Plan (2005 Component) is effective January 1, 2005 and is designed to provide supplemental retirement
benefits payable out of the general assets of any Company as provided in Section 4.1. This Plan shall be unfunded for tax purposes and purposes of Title I of ERISA. This Plan is a component of the Avista Corporation Supplemental Executive
Retirement Plan. 

  

	1.2	Intent. The intent of the Plan is to restore the benefit which would otherwise be payable under the Funded Pension Plan due to the limitations under Code Sections
401(a)(17) and 415 and to restore the benefit which would otherwise be lost thereunder as a result of the Employee’s participation in the Deferred Compensation Plan. In addition, for an Employee who has attained a minimum age of 55 years as
well as a minimum 15 years of Vesting Service, this Plan is designed to provide an increased benefit through the Applicable Percent identified in Section 4.1(b) thereof. 

 ARTICLE 2. 
 Definitions 
 For purposes of the Plan, unless otherwise clearly apparent from the context, the following phrases or terms shall have the following indicated meanings:

  

	2.1	“Actuarial Equivalent” shall mean an actuarial equivalent value of an amount payable in a different form or at a different date computed on the basis of the following
actuarial assumptions: 

  

			
	Mortality:	  	1983 Group Annuity Table
	Interest Rate:	  	 7%

  

	2.2	“Administrator” shall mean, prior to a Change in Control, the Administrator appointed to administer the Funded Pension Plan, as appointed from time to time. Upon and after
a Change in Control, Administrator shall mean the person or entity appointed in accordance with Section 5.2. 

	2.3	Subject to the requirements of Code Section 409A, except as otherwise provided in an agreement between the Company and the Employee and approved by the Compensation &
Organization Committee of the Board, “Benefit Service” shall mean the periods of service which are counted for the purposes of determining the amount of benefit earned as defined in Section 4.1 of the Funded Pension Plan.

  

	2.4	“Board” shall mean the Board of Directors of Avista Corporation. 

  

	2.5	“Change in Control” shall mean: 

  

	 	(a)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or more of either (i) the then outstanding shares of common stock of the Company
(the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company,
(iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any corporation pursuant to a transaction which complies
with clauses (i), (ii) and (iii) of subsection (c) of this Section 2.5; or 

  

	 	(b)	Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided,
however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the
Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election
contest with respect to the election or removal of directors, or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

  

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	 	(c)	Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”),
in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent (50%) of, respectively, the then outstanding shares of common stock and the combined voting power of the then
outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such
transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of
the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business Combination or employee benefit plan (or related trust) of the Company or
such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, twenty percent (20%) or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business
Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination, and (iii) at least a majority of the members of the board
of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or

  

	 	(d)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  

	2.6	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

  

	2.7	“Company” shall mean Avista Corporation, a Washington corporation, Avista Energy, and any business which assumes the obligations of a Company hereunder.

  

	2.8	“Deferred Compensation Plan” shall mean the non-qualified deferred compensation plan sponsored by Avista Corporation known as the “Avista Corporation Executive
Deferral Plan”, which includes the Avista Corporation Executive Deferral Plan (2005 Component) and any predecessor or successor plans thereof. 

  

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	2.9	“Eligible Dependent Children” shall mean the natural or adopted children of the Employee or the Employee’s Eligible Surviving Spouse who are dependents of and have
been dependents of such Employee or spouse throughout the 12 month period preceding the Employee’s death. 

  

	2.10	“Eligible Surviving Spouse” shall mean the person to whom the Employee was legally married on his benefit commencement date and at the time of his death has been married
for at least 12 months. 

  

	2.11	“Employee” shall mean an elected officer of the Company who is a member in the Funded Pension Plan. 

  

	2.12	“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 

  

	2.13	“Final Average Earnings” shall for the purpose of calculating benefits under Section 4.1(a) have the same meaning as the definition in the Funded Pension Plan with
the exception that the calculation of the Employee’s annual earnings shall be made without regard to the dollar limitation under Code Section 401(a)(17) and shall include any compensation deferred by the Employee under the Deferred
Compensation Plan. The same definition described in the preceding sentence shall be followed in calculating the benefits under Section 4.1(b) with the exception that average earnings shall be determined by referencing the 60 consecutive months
in the last 120 months of service for which such average is highest. 

  

	2.14	“Funded Pension Plan” shall mean the “Retirement Plan for Employees of Avista Corporation”, as outlined under the terms and provision of the plan document as in
effect at the time of the Employee’s Separation from Service. 

  

	2.15	“Minimum Survivor Annuity” shall mean an annuity for the life of the Employee’s Eligible Surviving Spouse equal to 50% of the amount that would have been paid to the
Employee had the Employee’s benefit been paid in the form of a joint and survivor annuity with a 50% continuance, and in an amount that is the Actuarial Equivalent of the Employee’s benefit determined under Sections 4.1 and 4.2, as
applicable, payable in the form of a single life annuity. 

  

	2.16	“Plan” shall mean the component of the Avista Corporation Supplemental Executive Retirement Plan set forth in this plan document titled the “Avista Corporation
Supplemental Executive Retirement Plan (2005 Component)”, as amended from time to time and that governs benefits that accrue thereunder on and after January 1, 2005. 

  

	2.17	“Related Company” shall mean a corporation which is a member of the same controlled group of corporations (as defined in Code Section 414(b)) as Avista Corporation
and a trade or business (whether or not incorporated) which is under common control (as defined in Code Section 414(c)) with Avista Corporation. 

  

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	2.18	“Separation from Service” means that an Employee has died, retired or otherwise has incurred a termination of employment. An Employee will not incur a Separation from
Service while he is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months, or if longer, so long as the individual retains a right to reemployment under an applicable statute or
contract. A leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Employee will return to perform services. Notwithstanding the foregoing, where a leave of absence is due to any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where such impairment causes the Employee to be unable to perform the duties of his
position of employment or any substantially similar position of employment, a 29 month period of absence is substituted for such six month period. 

 “Termination of employment” means that it is reasonably anticipated based on the facts and circumstances that an Employee will perform no further services after a certain date or that the level of bona fide
services he would perform after such date would permanently decrease to no more than 20 percent of the average level of bona fide services performed over the immediately preceding 36 month period (or the full period of services if the Employee has
been providing services for less than 36 months). An Employee shall incur a Separation from Service when the level of bona fide services performed decreases to a level equal to 20 percent or less of the average level of services performed by him
during the immediately preceding 36 month period. 
  

	2.19	“Vesting Service” shall mean the periods of service which are counted for purposes of vesting as defined in Section 4.2 of the Funded Pension Plan, subject to the
requirements of Code Section 409A and except as otherwise provided in an agreement between the Company and the Employee and approved by the Compensation & Organization Committee of the Board. 

 ARTICLE 3. 
 Eligibility 

 An Employee described in Section 1.9 herein and who receives benefits from the Funded Pension Plan that accrue on and after January 1, 2005
shall be eligible to receive benefits under this Plan in accordance with Section 4.1. 
  

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 ARTICLE 4. 
 Benefits 
  

	4.1	Amount of Benefits. Subject to the requirements of Code Section 409A, and except as otherwise provided in an agreement between the Company and an Employee and approved
by the Compensation & Organization Committee of the Board, the amount of the monthly benefit payable under the Plan shall be equal to either (a) or (b) below, whichever is applicable, reduced by the sum of the Employee’s
monthly benefit that accrued under the Avista Corporation Supplemental Executive Retirement Plan before January 1, 2005 and the Employee’s “normal retirement benefit” as defined by the Funded Pension Plan.

  

	 	(a)	If the Employee has not attained age 55 or does not have at least 15 years of Vesting Service at the time of his Separation from Service, then the amount of the monthly benefit is
the monthly benefit which would be payable to or on behalf of the Employee under the Funded Pension Plan if Article XI (which incorporates the Code Section 415 limitations) were not applied and the Final Average Earnings defined herein
were used in place of the “final average earnings” as defined by the Funded Pension Plan. 

  

	 	(b)	If the Employee has attained age 55 and has at least 15 years of Vesting Service at the time of his Separation from Service, then the amount of the monthly benefit is the Applicable
Percent of the Employee’s Final Average Earnings multiplied by his or her years of Benefit Service up to a maximum of thirty (30) years with said product divided by twelve (12). The Applicable Percent is determined as follows:

  

			
	 AGE AT RETIREMENT
	  	APPLICABLE PERCENT
	55-57	  	2.0%
	58	  	2.1%
	59	  	2.2%
	60	  	2.3%
	61	  	2.4%
	62	  	2.5%
	
	            For the positions of Chief Executive Officer and Chief Operating Officer
		
	63	  	2.6%
	64	  	2.8%
	65	  	3.0%

  

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	4.2	Reduction for Early Retirement. If payment of benefits under the Plan commences when the Employee is eligible to elect early retirement benefits under the Funded Pension
Plan, then the benefits under this Plan shall be subject to the same reduction factors applicable to an early retirement benefit as defined and described in the Funded Pension Plan. 

  

	 4.3
	 Form of Benefit Payments. Effective January 1, 2007, unless otherwise elected by an Employee pursuant to
Section 4.5, the benefits payable to or on behalf of an Employee as determined in Section 4.1 shall be paid in the form of a single life annuity if the Employee is single upon his Separation from Service, or if the Employee is married upon
his Separation from Service, in the form of a 66-2/3% joint and survivor annuity with his Eligible Surviving Spouse as joint annuitant until such spouse is age 60, and a 50% joint and survivor annuity with such spouse as joint annuitant thereafter.
In the event that the Employee’s age exceeds that of his Eligible Surviving Spouse by more than five years, then the survivor’s benefit described in the preceding sentence shall be reduced by 2% of the Employee’s benefit for each year
by which the Employee’s age exceeds that of his Eligible Surviving Spouse plus five years, provided that the reduced benefit shall not be less than the Minimum Survivor Annuity. The last payment to the Eligible Surviving Spouse shall be the
payment due on the first day of the month in which occurs the death of the last to survive of the Employee and such spouse. Furthermore, if the Eligible Surviving Spouse dies, or if there is no Eligible Surviving Spouse, then the benefits which
otherwise would have been paid to an Eligible Surviving Spouse shall be divided equally among the Employee’s Eligible Dependent Children under the age of 19. The last such payment to each Eligible Dependent Child shall be the payment on the
first day of the month in which occurs the earlier of his 19th birthday or his death. 

 Notwithstanding the preceding paragraph, the benefits payable to or on behalf of an Employee as determined in Section 4.1 shall be paid in a single
lump sum if the Actuarial Equivalent of the Employee’s monthly benefit payable in a lump sum is equal to or less than the dollar amount under Code Section 402(g)(1)(B) ($15,500 for 2008) and the payment results in the termination and
liquidation of the entirety of the Employee’s interest under the Plan, including all other plans that are aggregated with the Plan under Code Section 409A. 
 Prior to January 1, 2007, the benefits payable to or on behalf of an Employee as determined in Section 4.1 shall be paid in the same form as elected by the Employee under the Funded Pension Plan. 

The lump sum amounts described above shall be calculated based on the Employee’s monthly benefit payable at his normal retirement or early
retirement date, as such terms are defined in the Funded Pension Plan, if applicable, and if the Employee is married, shall include the value of joint and survivor benefits. 
  

 - 7 - 

	4.4	Time of Benefit Payments. Effective January 1, 2007, unless otherwise elected by the Employee pursuant to Section 4.5, benefits due under the Plan shall be paid as
soon as reasonably practicable following the Employee’s Separation from Service, but in no event later than 90 days following the Employee’s Separation from Service. Prior to January 1, 2007, the benefits payable to or on behalf of an
Employee as determined in Section 4.1 shall be paid coincident with the payment date of benefits under the Funded Pension Plan. Notwithstanding the preceding sentences, payment of benefits to an Employee who is a “specified person”
shall not be paid or commence prior to a date that is six (6) months after the date of his Separation from Service for reasons other than death. An Employee is a “specified person” if he is a “key employee” under Code
Sections 416(i)(1)(A)(i), (ii) or (iii) at any time during the 12 month period ending on a “specified employee identification date.” If the Employee is a key employee on such a date, he will be treated as a key employee for the
entire 12 month period beginning on the “specified employee effective date.” For purposes of this Section 4.4, the “specified employee identification date” is December 31 and the “specified employee effective
date” is the following April 1. The accumulated value of deferred payments (exclusive of interest) will be paid to an Employee who is a specified person in a single sum at the beginning of the seventh calendar month after the date of his
Separation from Service. 

  

	4.5	Employee Election of Form and Time of Benefit Payments. An Employee may elect in the manner provided by the Administrator to delay receipt of his Plan benefit or change the
form of payment described above to a single lump sum or a single life annuity with a 10 year certain guarantee (calculated using the adjustment factors for such payment form set forth in the Funded Plan), provided that: (i) the election is
submitted at least one year prior to the date on which the first payment of benefits hereunder would have otherwise become payable; and (ii) the election will result in a delay of the Employee’s receipt of such benefit by at least five
additional full years. In the event that an Employee elects a different form or time of benefit payment under this Plan and the Avista Corporation Supplemental Manager Retirement Plan (“SMRP”) (as such plan may be amended from time to
time), then the election made by such Employee under this Plan shall govern payments under both the Plan and the SMRP. 

  

	4.6	Benefits Unfunded. The Employee shall have no right, title, or interest whatever in or to any investments which the Company may make to aid it in meeting its obligations
hereunder. To the extent that any person acquires a right to receive payments from the Company, such rights shall be no greater than the right of an unsecured creditor. 

  

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 ARTICLE 5. 
 Administration 
  

	5.1	Duties of Administrator. The Plan shall be administered by the Administrator in accordance with its terms and purposes. The Administrator shall have the discretionary power
to determine all questions arising in connection with the administration of the Plan and the interpretation of the Plan including, but not limited to, the amount and manner of payment of the benefits due to or on behalf of each Employee under the
Plan. 

  

	5.2	Administration Upon Change In Control. Upon and after the occurrence of a Change in Control, the Administrator shall be an independent third party selected by the individual
who, immediately prior to such event, was Avista Corporation’s Chief Executive Officer or, if not so identified, Avista Corporation’s highest ranking officer (the “Ex-CEO”). Upon and after the occurrence of a Change in Control,
Avista Corporation must: (1) pay all reasonable administrative expenses and fees of the Administrator; (2) indemnify the Administrator against any costs, expenses and liabilities including, without limitation, attorney’s fees and
expenses arising in connection with the performance of the duties of the Administrator hereunder; and (3) supply full and timely information to the Administrator or all matters relating to the Plan, the Employees and their beneficiaries, the
date or circumstances of the death or other Separation from Service of the Employees, their respective years of Benefit Service, age and Final Average Earnings, and such other pertinent information as the Administrator may reasonably require. Upon
and after a Change in Control, the Administrator may be terminated (and a replacement appointed) only by the Ex-CEO. Upon and after a Change in Control, the Administrator may not be terminated by Avista Corporation. 

  

	5.3	Finality of Decisions. Subject to Article 6 below, the decisions made by and the actions taken by the Administrator in the administration of the Plan shall be final and
conclusive on all persons. The Administrator shall not be subject to liability with respect to the administration of the Plan. 

  

	5.4	Benefit Forfeiture Prior to a Change in Control. Prior to a Change in Control, all benefits provided by this Plan may be forfeited by the Employee and the Employee’s
beneficiary if, in the judgment of the Administrator prior to a Change in Control, the Employee is responsible for acts or omission which subject the Company to public disrespect, scandal or ridicule or if the Employee is responsible for acts of
misconduct including, but not limited to, acts of theft, embezzlement, fraud or moral turpitude. Prior to a Change in Control, the Administrator’s determination as to the grounds for forfeiture shall be conclusive and binding on all parties.
Upon and after a Change in Control, no benefits may be forfeited for any reason under this Section 5.4 and this Section 5.4 shall be null and void. 

  

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 ARTICLE 6. 
 Claims Procedures 
  

	6.1	Presentation of Claim. Any Employee or beneficiary of a deceased Employee (such Employee or beneficiary being referred to below as a “Claimant”) may deliver to the
Administrator a written claim for a determination with respect to the amounts distributable to such Claimant from the Plan. If such a claim relates to the contents of a notice received by the Claimant, the claim must be made within 60 days after
such notice was received by the Claimant. All other claims must be made within 180 days of the date on which the event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the Claimant.

  

	6.2	Notification of Decision. The Administrator shall consider a Claimant’s claim within a reasonable time, and shall notify the Claimant in writing:

  

	 	(a)	that the Claimant’s requested determination has been made, and that the claim has been allowed in full; or 

  

	 	(b)	that the Administrator has reached a conclusion contrary, in whole or in part, to the Claimant’s requested determination, and such notice must set forth in a manner calculated
to be understood by the Claimant: 

  

	 	(i)	the specific reason(s) for the denial of the claim, or any part of it; 

  

	 	(ii)	specific reference(s) to pertinent provisions of the Plan upon which such denial was based; 

  

	 	(iii)	a description of any additional material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary; and

  

	 	(iv)	an explanation of the claim review procedure set forth in Section 6.3 below. 

  

	6.3	Review of a Denied Claim. Within 60 days after receiving a notice from the Administrator that a claim has been denied, in whole or in part, a Claimant (or the Claimant’s
duly authorized representative) may file with the Administrator a written request for a review of the denial of the claim. Thereafter, but not later than 30 days after the review procedure began, the Claimant (or the Claimant’s duly authorized
representative): 

  

	 	(a)	may review pertinent documents; 

  

	 	(b)	may submit written comments or other documents; and/or 

  

	 	(c)	may request a hearing, which the Administrator, in its sole discretion, may grant. 

  

 - 10 - 

	6.4	Decision on Review. The Administrator shall render its decision on review promptly, and not later than 60 days after the filing of a written request for review of the denial,
unless a hearing is held or other special circumstances require additional time, in which case the Administrator’s decision must be rendered within 120 days after such date. Such decision must be written in a manner calculated to be understood
by the Claimant, and it must contain: 

  

	 	(a)	specific reasons for the decision; 

  

	 	(b)	specific reference(s) to the pertinent Plan provisions upon which the decision was based; and 

  

	 	(c)	such other matters as the Administrator deems relevant. 

  

	6.5	Legal Action. A Claimant’s compliance with the foregoing provisions of this Article 6 is a mandatory prerequisite to a Claimant’s right to commence any legal
action with respect to any claim for benefits under this Plan. 

 ARTICLE 7. 
 Amendment and Termination 
  

	7.1	Termination. Avista Corporation reserves the right to terminate the Plan at any time by action of the Board. The termination of the Plan shall not adversely affect any
Employee or his or her beneficiary who has commenced receiving the payment of any benefits under the Plan as of the date of termination; provided, however, that the Company shall have the right to accelerate payments by paying the Actuarial
Equivalent value of such payments in accordance with Code Section 409A. For all other Employees, upon the termination of the Plan, the Actuarial Equivalent of an Employee’s benefit shall be paid out in a single lump sum.

  

	7.2	Amendment. Avista Corporation may, at any time, amend or modify the Plan in whole or in part by the action of the Board; provided, however, that (i) no amendment or
modification shall be effective to decrease or restrict an Employee’s then accrued benefit, determined on an Actuarial Equivalent basis and (ii) upon and after a Change in Control, no amendment of Section 5.2 above, Section 5.4
above or this Section 7.2 shall be effective. 

  

 - 11 - 

 ARTICLE 8. 
 Miscellaneous 
  

	8.1	Unsecured General Creditor. Employees and their beneficiaries shall have no legal or equitable rights, interests or claims in any property or assets of the Company. Any and
all of the Company’s assets shall be, and remain, the general, unpledged assets of the Company. The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future.

  

	8.2	No Employment Rights. Nothing contained in the Plan shall be construed as a contract of employment between the Company and an Employee, or as a right of any Employee to be
continued in the employment of the Company, or as a limitation of the right of the Company to discharge any of its employees, with or without cause. 

  

	8.3	Assignment. No amount payable at any time hereunder shall be subject in any manner to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment,
charge, or encumbrance of any kind nor in any manner be subject to the debts or liabilities of any person, and any attempt to so alienate or subject any such amount, whether then or thereafter payable, shall be void. If any person shall attempt to,
or shall, alienate, sell, transfer, assign, pledge, attach, charge, or otherwise encumber any amount payable hereunder, or any part thereof, or if by reason of his bankruptcy or other event happening at any such time, such amount would be made
subject to his debts or liabilities or would otherwise not be enjoyed by him, then the Board, if it so elects, may direct that such amount be withheld and that the amount or any part thereof be paid or applied to or for the benefit of such person,
or his spouse, in such manner and proportion as said Board may deem proper. 

  

	8.4	Law Applicable. This Plan shall be governed by the laws of the State of Washington to the extent such laws are not preempted by ERISA. 

  

	8.5	Terms. Whenever any words are used herein in the masculine, they shall be construed as though they were in the feminine in all cases where they would so apply; and whenever
any words are used herein in the singular or in the plural, they shall be construed as though they were used in the plural or the singular, as the case may be, in all cases where they would so apply. 

 Adopted and effective as of January 1, 2005. 
  

 - 12 -Form of Change of Control Agreement between the Company and its Exec Officers

 EXHIBIT 10.44 
 CHANGE OF CONTROL AGREEMENT 
 AGREEMENT by and between Avista Corporation, a Washington corporation
(the “Company”) and
                                        ,
(the “Executive”), dated as of the      day of             , 20    . 
 The Board of Directors of the Company (the “Board”), has determined that it is in the best interests of the Company and its shareholders to
assure that the Company will have the continued dedication of the Executive, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company. The Board believes it is imperative to diminish the
inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive’s full attention and dedication to the Company currently and in the
event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control which ensure that the compensation and benefits expectations of the Executive will be satisfied
and which are competitive with those of other corporations. Therefore, in order to accomplish these objectives, the Board has caused the Company to enter into this Agreement. 
 NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 
 1. Certain Definitions. (a) The “Effective Date” shall mean the first date during the Change of Control Period (as defined in Section 1(b)) on which a Change of Control (as defined in Section 1(c)) occurs.

 (b) The “Change of Control Period” shall mean the period commencing on the date hereof and ending on the third anniversary of
the date hereof; provided, however, that commencing on the date one year after the date hereof, and on each annual anniversary of such date (such date and each annual anniversary thereof shall be hereinafter referred to as the “Renewal
Date”), unless previously terminated, the Change of Control Period shall be automatically extended so as to terminate three (3) years from such Renewal Date, unless at least sixty (60) days prior to the Renewal Date the Company shall
give notice to the Executive that the Change of Control Period shall not be so extended. 
 (c) For the purpose of this Agreement, a
“Change of Control” shall mean: 
 (i) The acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of twenty
percent (20%) or more of either (i) the then outstanding shares of common stock of the Company (the 

 
“Outstanding Company Common Stock’) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to
vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change of Control: (w) any
acquisition directly from the Company, (x) any acquisition by the Company, (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or
(z) any acquisition by any corporation pursuant to a transaction which complies with clauses (x), (y) and (z) of subsection (iii) of this Section 1; or 
 (ii) Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual
or threatened election contest with respect to the election or removal of directors, or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (iii) Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a
“Business Combination”), in each case, unless, following such Business Combination, (x) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and
Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than fifty percent (50%) of, respectively, the then outstanding shares of common stock and the combined voting
power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result
of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business
Combination of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (y) no Person (excluding any corporation resulting from such Business Combination or employee benefit plan (or related trust) of
the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, twenty percent (20%) or more of, respectively, the then outstanding shares of common stock of the corporation resulting from
such Business Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (z) at least a majority of the members
of the board 

  

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of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial
agreement, or of the action of the Board, providing for such Business Combination; or 
 (iv) Approval by the shareholders of the Company of
a complete liquidation or dissolution of the Company. 
 2. Employment Period. The Company hereby agrees to continue the Executive in
its employ, and the Executive hereby agrees to remain in the employ of the Company subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the third anniversary of such date (the
“Employment Period”). 
 3. Terms of Employment. (a) Position and Duties. (i) During the Employment Period,
(A) the Executive’s position (including status, offices, titles and reporting requirements), authority, duties and responsibilities shall be at least commensurate in all material respects with the most significant of those held, exercised
and assigned at any time during the one hundred twenty (120) day period immediately preceding the Effective Date and (B) the Executive’s services shall be performed at the location where the Executive was employed immediately
preceding the Effective Date or any office or location less than 35 miles from such location. 
 (ii) During the Employment Period, and
excluding any periods of vacation and sick leave to which the Executive is entitled, the Executive agrees to devote reasonable attention and time during normal business hours to the business and affairs of the Company and, to the extent necessary to
discharge the responsibilities assigned to the Executive hereunder, to use the Executive’s reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period it shall not be a violation of this
Agreement for the Executive to (A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures, fulfill speaking engagements or teach at educational institutions and (C) manage personal investments, so long as
such activities do not significantly interfere with the performance of the Executive’s responsibilities as an employee of the Company in accordance with this Agreement. It is expressly understood and agreed that to the extent that any such
activities have been conducted by the Executive prior to the Effective Date, the continued conduct of such activities (or the conduct of activities similar in nature and scope thereto) subsequent to the Effective Date shall not thereafter be deemed
to interfere with the performance of the Executive’s responsibilities to the Company. 
 (b) Compensation. (i) Base
Salary. During the Employment Period, the Executive shall receive an annual base salary (“Annual Base Salary”), which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable,
including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve month 

  

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period immediately preceding the month in which the Effective Date occurs. During the Employment Period, the Annual Base Salary shall be reviewed no more
than 12 months after the last salary increase awarded to the Executive prior to the Effective Date and thereafter at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive
under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term
“affiliated companies” shall include any company controlled by, controlling or under common control with the Company. 
 (ii) Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for
each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to the Executive’s highest bonus under the Company’s Annual Incentive Plans, or any comparable bonus under any
predecessor or successor plan, for the last three (3) full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the “Recent Annual
Bonus”). Each such Annual bonus shall be paid in a lump sum no later than two and one-half (2 1/2) months after the end of
the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to the Company’s Investment and Employee Stock Ownership Plan
(“ESOP”) or Executive Deferral Plan (“Deferred Compensation Plan”), as such plans may be amended from time to time. 
 (iii) Incentive, Savings and Retirement Plans. During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to
other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive
opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its
affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at
any time after the Effective Date to other peer executives of the Company and its affiliated companies. 
 (iv) Welfare Benefit
Plans. During the Employment Period, the Executive and/or the Executive’s family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs
provided by the Company and its affiliated companies (including, 

  

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without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs)
to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the
aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided
generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies. 
 (v) Expenses.
During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive in accordance with the most favorable policies, practices and procedures of the Company and its
affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer
executives of the Company and its affiliated companies. 
 (vi) Fringe Benefits. During the Employment Period, the Executive shall be
entitled to fringe benefits, including, without limitation, tax and financial planning services, payment of club dues, and, if applicable, use of an automobile and payment of related expenses, in accordance with the most favorable plans, practices,
programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time
thereafter with respect to other peer executives of the Company and its affiliated companies. 
 (vii) Office and Support Staff.
During the Employment Period, the Executive shall be entitled to an office or offices of a size and with furnishings and other appointments, and to exclusive personal secretarial and other assistance, at least equal to the most favorable of the
foregoing provided to the Executive by the Company and its affiliated companies at any time during the 120-period immediately preceding the Effective date or, if more favorable to the Executive, as provided generally at any time thereafter with
respect to other peer executives of the Company and its affiliated companies. 
 (viii) Vacation. During the Employment Period, the
Executive shall be entitled to paid vacation in accordance with the most favorable plans, policies, programs and practices of the Company and its affiliated companies as in effect for the Executive at any time during the 120-day period immediately
preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies. 
  

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 4. Termination of Employment. (a) Death or Disability. The Executive’s employment
shall terminate automatically upon the Executive’s death during the Employment Period. If the Company determines in good faith that the Disability of the Executive has occurred during the Employment Period (pursuant to the definition of
Disability set forth below), it may give to the Executive written notice in accordance with Section 11(b) of this Agreement of its intention to terminate the Executive’s employment. In such event, the Executive’s employment with the
Company shall terminate effective on the 30th day after receipt of such notice by the Executive (the “Disability Termination Effective Date), provided that, within the thirty (30) days after such receipt, the Executive shall not have
returned to full-time performance of the Executive’s duties. For purposes of this Agreement, “Disability” shall mean that the Executive is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months or is, by reason of any medically determinable physical or mental impairment which can
be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months, receiving income replacement benefits for a period of not less than three (3) months under an accident and health plan
covering employees of the Company. 
 (b) Cause. The Company may terminate the Executive’s employment during the Employment
Period for Cause. For purposes of this Agreement, “Cause” shall mean: 
 (i) the willful and continued failure of the Executive to
perform substantially the Executive’s duties with the Company or one of its affiliates (other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for substantial performance is delivered to
the Executive by the Board or the Chief Executive Officer of the Company which specifically identifies the manner in which the Board or Chief Executive Officer believes that the Executive has not substantially performed the Executive’s duties,
or 
 (ii) the willful engaging by the Executive in illegal conduct or gross misconduct which is materially and demonstrably injurious to
the Company. 
 For purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered “willful” unless it is
done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a
resolution duly adopted by the Board or upon the instructions of the Chief Executive Officer or a senior officer of the Company or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by
the Executive in good faith and in the best interests of the Company. The cessation of employment of the Executive shall not be deemed to be for Cause unless and until there shall have been delivered to the Executive a copy of a resolution duly
adopted by the 

  

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affirmative vote of not less than three-quarters of the entire membership of the Board at a meeting of the Board called and held for such purpose (after
reasonable notice is provided to the Executive and the Executive is given an opportunity, together with counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, the Executive is guilty of the conduct described in
subparagraph (i) or (ii) above, and specifying the particulars thereof in detail. 
 (c) Good Reason. The Executive’s
employment may be terminated by the Executive for Good Reason. For purposes of this Agreement, “Good Reason” shall mean: 
 (i)
the assignment to the Executive of any duties inconsistent in any respect with the Executive’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 3(a)
of this Agreement, or any other action by the Company which results in a material diminution in such position, authority, duties or responsibilities; 
 (ii) a material diminution in the Executive’s Annual Base Salary by more than ten percent (10%); 
 (iii) the Company’s requiring the Executive to be based at any office or location other than as provided in Section 3(a)(i)(B) hereof or the Company’s requiring the Executive to travel on Company business to a substantially
greater extent than required immediately prior to the Effective Date; 
 (iv) any material failure by the Company to comply with and satisfy
Section 10(c) hereof. 
 The Executive shall provide notice to the Company of the existence of a condition described in (i) through (iv) above
within 90 days of the initial existence of the condition, upon the notice of which the Company shall be provided a period of 30 days during which it may remedy the condition. For purposes of this Section 4(c), a determination of “Good
Reason” made by the Executive with which the Company does not agree shall be resolved pursuant to the following dispute resolution procedure. First, the parties shall in good faith attempt to resolve any dispute arising hereunder. Second, if
such efforts are unsuccessful, the parties shall submit to binding arbitration with such arbitration to be conducted in Spokane, Washington, by the American Arbitration Association under its National Rules for the Resolution of Employment Disputes.

 (d) Notice of Termination. Any termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by
Notice of Termination to the other party hereto given in accordance with Section 11(b) of this Agreement. For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific
termination provision in this Agreement 

  

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relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
the Executive’s employment under the provision so indicated and (iii) the Date of Termination (as defined below), which date shall be not more than 90 days after the giving of such notice. The failure by the Executive or the Company to set
forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company,
respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
 (e)
Date of Termination. “Date of Termination” means (i) if the Executive’s employment is terminated by the Company for Cause, or by the Executive for Good Reason, the Date of Termination specified in the Notice of
Termination, (ii) if the Executive’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination, and (iii) if
the Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Termination Effective Date, as the case may be. Notwithstanding the above, an
Executive shall not have a Date of Termination while he is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months, or if longer, so long as the Executive retains a right to
reemployment under an applicable statute or contract. A leave of absence constitutes a bona fide leave of absence only if there is a reasonable expectation that the Executive will return to perform services. Notwithstanding the foregoing, where a
leave of absence is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six (6) months, where such impairment causes the
Executive to be unable to perform the duties of his position of employment or any substantially similar position of employment, a twenty nine (29) month period of absence is substituted for such six (6) month period. The Executive’s
employment shall be deemed to be terminated if it is reasonably anticipated based on the facts and circumstances that the Executive will perform no further services after a certain date or that the level of bona fide services the Executive would
perform after such date would permanently decrease to no more than twenty percent (20%) of the average level of bona fide services performed over the immediately preceding thirty six (36) month period (or the full period of services if the
Executive has been providing services for less than thirty six (36) months). 
 5. Obligations of the Company upon Termination.
(a) Good Reason; Other Than for Cause or Disability. If, during the Employment Period, the Company shall terminate the Executive’s employment other than for Cause or Disability or the Executive shall terminate employment for Good
Reason: 
  

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 (i) the Company shall pay to the Executive in a lump sum in cash within thirty (30) days after the
Date of Termination the aggregate of the following amounts: 
 (A) the sum of (1) the Executive’s Annual Base Salary through the
Date of Termination to the extent not theretofore paid, (2) the product of (x) the higher of (I) the Recent Annual Bonus and (II) the Annual Bonus paid or payable, including any bonus or portion thereof which has been earned but
deferred (and annualized for any fiscal year consisting of less than twelve (12) full months or during which the Executive was employed for less than twelve (12) full months), for the most recently completed fiscal year during the
Employment Period, if any (such higher amount being referred to as the “Highest Annual Bonus” and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination, and the
denominator of which is 365 and (3) any accrued vacation pay, in each case to the extent not theretofore paid (the sum of the amounts described in clauses (1), (2), and (3) shall be hereinafter referred to as the “Accrued
Obligations”); and 
 (B) the amount equal to the product of (1) two and (2) the sum of (x) the Executive’s Annual
Base Salary and (y) the Highest Annual Bonus; and 
 (ii) for two years after the Executive’s Date of Termination or such longer
period as may be provided by the terms of the appropriate plan, program or policy, the Company shall continue benefits to the Executive and/or the Executive’s family that are at least equal to those which would have been provided to them in
accordance with the plans, programs, practices and policies described in Section 3(b)(iv) of this Agreement if the Executive’s employment had not been terminated or, if more favorable to the Executive, as in effect generally at any time
thereafter with respect to other peer executives of the Company and its affiliated companies and their families, provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive medical or other welfare
benefits under another employer provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan during such applicable period of eligibility. For purposes of determining eligibility
(but not the time of commencement of benefits) of the Executive for retiree benefits pursuant to such plans, practices, programs and policies, the Executive shall be considered to have remained employed until two years after the Date of Termination
and to have retired on the last day of such period; 
 (iii) the Company shall, at its sole expense as incurred, with payment made directly
to the provider of services, provide the Executive with outplacement services directly related to the termination of the Executive’s services for the Company with the Company having payment approval, in its sole discretion, for reasonable
services for a limited period. The limited period of time for which such expenses may be incurred does not include periods beyond the last day of the second calendar year following the calendar year in which the Executive’s Date of Termination

  

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occurred, provided that the period during which the reimbursements for such expenses must be made may not extend beyond the third calendar year of the
Executive’s Date of Termination; and 
 (iv) to the extent not theretofore paid or provided, the Company shall timely pay or provide to
the Executive any other amounts or benefits required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company and its affiliated companies (such other
amounts and benefits shall be hereinafter referred to as the “Other Benefits”). 
 (b) Death. If the Executive’s
employment is terminated by reason of the Executive’s death during the Employment Period, this Agreement shall terminate without further obligations to the Executive’s legal representatives under this Agreement, other than for payment of
Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within 30 days of the Date of Termination. With
respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 6(b) shall include, without limitation, and the Executive’s estate and/or beneficiaries shall be entitled to receive, benefits at least equal
to the most favorable benefits provided by the Company and affiliated companies to the estates and beneficiaries of peer executives of the Company and such affiliated companies under such plans, programs, practices and policies relating to death
benefits, if any, as in effect with respect to other peer executives and their beneficiaries at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive’s estate and/or the
Executive’s beneficiaries, as in effect on the date of the Executive’s death with respect to other peer executives of the Company and its affiliated companies and their beneficiaries. 
 (c) Disability. If the Executive’s employment is terminated by reason of the Executive’s Disability during the Employment Period, this
Agreement shall terminate without further obligations to the Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits. Accrued Obligations shall be paid to the Executive in a lump sum in cash
within 30 days of the Date of Termination. With respect to the provision of Other Benefits, the term Other Benefits as utilized in this Section 5(c) shall include, and the Executive shall be entitled after the Disability Termination
Effective Date to receive, disability benefits at least equal to the most favorable of those generally provided by the Company and its affiliated companies to disabled executives and/or their families in accordance with such plans, programs,
practices and policies relating to disability, if any, as in effect generally with respect to other peer executives and their families at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the
Executive and/or the Executive’s family, as in effect at any time thereafter generally with respect to other peer executives of the Company and its affiliated companies and their families. 
  

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 (d) Cause; Other than for Good Reason. If the Executive’s employment shall be terminated for
Cause during the Employment Period, this Agreement shall terminate without further obligations to the Executive other than the obligation to pay to the Executive (x) his Annual Base Salary through the Date of Termination, (y) the amount of
any compensation previously deferred by the Executive under the ESOP and Deferred Compensation Plan pursuant to the terms of such plans, as they may be amended from time to time, and (z) Other Benefits, in each case to the extent theretofore
unpaid. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, this Agreement shall terminate without further obligations to the Executive, other than for Accrued Obligations and the
timely payment or provision of Other Benefits. In such case, all Accrued Obligations shall be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination. 
 6. Non-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit the Executive’s continuing or future participation in any
plan, program, policy or practice provided by the Company or any of its affiliated companies and for which the Executive may qualify, nor, subject to Section 11(f), shall anything herein limit or otherwise affect such rights as the Executive
may have under any contract or agreement with the Company or any of its affiliated companies. Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any plan, policy, practice or program of or any contract or
agreement with the Company or any of its affiliated companies at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly modified by this
Agreement. 
 7. Full Settlement. The Company’s obligation to make the payments provided for in this Agreement and otherwise to
perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against the Executive or others. In no event shall the Executive be obligated to
seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Executive obtains other employment. In
any suit, proceeding, dispute or action (including arbitration) to enforce or interpret any of the terms of this Agreement, the prevailing party shall be entitled to recover expenses, including reasonable attorneys’ fees, in connection with
such suit, proceeding, dispute or action, including appeal. 
 8. Certain Additional Payments by the Company. (a) Anything in
this Agreement to the contrary notwithstanding and except as set forth below, in the event it shall be determined that any payment or distribution by the Company to or for the benefit 

  

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of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard
to any additional payments required under this Section 8) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Executive with respect to such excise
tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”) in
an amount such that after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto)
and Excise Tax imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 8 (a), if it shall be
determined that the Executive is entitled to a Gross-Up Payment, but that the Payments do not exceed 110% of the greatest amount (the “Reduced Amount”) that could be paid to the Executive such that the receipt of Payments would not give
rise to any Excise Tax, then no Gross-Up Payment shall be made to the Executive and the Payments, in the aggregate, shall be reduced to the Reduced Amount. 
 (b) Subject to the provisions of Section 8(c), all determinations required to be made under this Section 8, including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment
and the assumptions to be utilized in arriving at such determination, shall be made by Deloitte and Touche or such other certified public accounting firm as may be designated by the Executive (the “Accounting Firm”) which shall provide
detailed supporting calculations both to the Company and the Executive within fifteen (15) business days of the receipt of notice from the Executive that there has been a Payment, or such earlier time as is requested by the Company. In the
event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change of Control, the Executive shall appoint another nationally recognized accounting firm to make the determinations required
hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 8,
shall be paid by the Company to the Executive within five days of the receipt of the Accounting Firm’s determination, but in no event later than the calendar year following the calendar year in which the Executive remits the Excise Tax to the
Internal Revenue Service. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by
the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent with the calculations required to be made hereunder. In the event that the
Company exhausts its remedies pursuant to Section 8(c) and the Executive thereafter is required to make a payment of any Excise Tax, the Accounting 

  

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Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit
of the Executive, but in no event later than the calendar year following the calendar year in which the Executive pays the Excise Tax. 
 (c)
The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no
later than ten business days after the Executive is informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to
the expiration of the 30-day period following the date on which it gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in
writing prior to the expiration of such period that it desires to contest such claim, the Executive shall: 
 (i) give the Company any
information reasonably requested by the Company relating to such claim; 
 (ii) take such action in connection with contesting such claim as
the Company shall reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company; 
 (iii) cooperate with the Company in good faith in order effectively to contest such claim, and 
 (iv) permit the Company to participate in any proceedings relating to such claim; 
 provided, however, that the Company shall bear and pay during the period of representation directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and
shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs and expenses. Without
limitation on the foregoing provisions of this Section 8(c), the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings
and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Executive to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Executive agrees to
prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that if the Company directs the Executive to pay
such, claim and sue 

  

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for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis and shall indemnify and hold the Executive
harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with respect to such advance; and further provided
that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Any such reimbursement
to the Executive of amounts described under this Section 8(c) shall be made on or before the last day of the calendar year following the calendar year in which the expense was incurred. Furthermore, the Company’s control of the contest
shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing
authority. 
 (d) If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 8(c), the Executive
becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of Section 8(c)) promptly pay to the Company the amount of such refund (together with any
interest paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company pursuant to Section 8(c), a determination is made that the Executive shall not be entitled to any
refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then such advance shall be forgiven and shall
not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
 9. Confidential Information. The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information, knowledge or data relating to the Company or any of its
affiliated companies, and their respective businesses, which shall have been obtained by the Executive during the Executive’s employment by the Company or any of its affiliated companies and which shall not be or become public knowledge (other
than by acts by the Executive or representatives of the Executive in violation of this Agreement). After termination of the Executive’s employment with the Company, the Executive shall not, without the prior written consent of the Company or as
may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those designated by it. In no event shall an asserted violation of the provisions of this
Section 9 constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement. Any Avista Corporation Employee Confidentiality, Non-Solicitation and Invention Agreement signed by Executive is
incorporated herein by reference as if set forth in full. 
  

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 10. Successors. (a) This Agreement is personal to the Executive and without the prior written
consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives.

 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
 (c) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession has taken place. As used in this
Agreement, “Company” shall mean the Company as herein before defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. 
 11. Miscellaneous. (a) This Agreement shall be governed by and construed in accordance with the laws of the State of Washington, without
reference to principles of conflict of laws. Venue for any suit, action or proceeding concerning this agreement is to be in the Superior Court of the State of Washington for Spokane County. By this Agreement, the parties confer jurisdiction over the
subject matter of and parties to this Agreement to the Superior Court of the State of Washington for Spokane County. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be
amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 
 (b) All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

 

					
	If to the Executive:	  	
			
	If to the Company:	    	Avista Corp.	  	
		    	1411 East Mission Avenue	  	
		    	Spokane, WA 99202	  	
		    	Attention: General Counsel	  	

 or to such other address as either party shall have furnished to the other in writing in accordance herewith.
Notice and communications shall be effective when actually received by the addressee. 
  

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 (c) The invalidity or unenforceability of any provision of this Agreement shall not affect the validity
or enforceability of any other provision of this Agreement. 
 (d) The Company may withhold from amounts payable under this Agreement such
Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 (e) The
Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the
Executive to terminate employment for Good Reason pursuant to Section 4(c)(i)-(iv) of this Agreement, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 
 (f) The Executive and the Company acknowledge that, except as may otherwise be provided under any other written agreement between the Executive and the
Company, the employment of the Executive by the Company is “at will” and, subject to Section 1(a) hereof, prior to the Effective Date, the Executive’s employment and/or this Agreement may be terminated by either the Executive or
the Company at any time prior to the Effective date, in which case the Executive shall have no further rights under this Agreement. From and after the Effective date this Agreement shall supersede any other agreement between the parties with respect
to the subject matter hereof. 
 (g) Notwithstanding any provision of this Agreement to the contrary, if, at the time of the Executive’s
Date of Termination, the Executive is a “specified employee” (as defined in Section 409A of the Code) and the deferral of the commencement of any severance payments or benefits otherwise payable pursuant to this Agreement as a result
of such termination of employment is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such severance payments or benefits
hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Executive) that will not and could not under any circumstances, regardless of when such Date of Termination occurs, be paid in full by March 15 of
the year following the Executive’s termination and are in excess of the lesser of (i) two (2) times the Executive’s then annual compensation or (ii) two (2) times the limit on compensation then set forth in
Section 401(a)(17) of the Code and will not be paid by the end of the second calendar year following the year in which the termination occurs, until the first payroll date that occurs after the date that is six (6) months following the
Executive’s “separation of service” with the Company (as defined under Code Section 409A). If any payments are deferred due to such requirements, such amounts will be paid in a lump sum to the Executive on the earliest of
(a) the Executive’s death following the date of the Executive’s termination of employment with the Company or (b) the first 

  

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payroll date that occurs after the date that is six (6) months following the Executive’s “separation from service” with the Company. For
these purposes, each severance payment or benefit is hereby designated as a separate payment or benefit and will not collectively be treated as a single payment or benefit. This paragraph is intended to comply with the requirements of
Section 409A of the Code so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A of the Code and any ambiguities herein will be interpreted to so comply.
The Executive and the Company agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income
recognition prior to actual payment to the Executive under Section 409A of the Code. 
 (h) Executive agrees that the Executive shall be
responsible for any applicable taxes of any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder, that his receipt of any benefit hereunder is
conditioned on his satisfaction of any applicable withholding or similar obligations that apply to such benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply.

 (i) Prior to the receipt of any benefits under this Agreement, the Executive shall execute a release of claims agreement (the
“Release”) in the form provided by the Company. Such Release shall specifically relate to all of the Executive’s rights and claims in existence at the time of such execution and shall confirm the Executive’s obligations under the
Company’s standard form of proprietary information agreement. 
 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s
hand and, pursuant to the authorization from its Board of Directors, the Company has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 

			
	  

		 	[Executive]
	
	AVISTA CORPORATION
		
	By:	 	  

  

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