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dex101.htm

    
      

      

    

    Exhibit
10.1

    

    LINCOLN
NATIONAL CORPORATION

    

    Indemnification
Agreement

    

    

    This
Indemnification Agreement (“Agreement”) is made as of November 5, 2008, by and
between LINCOLN
NATIONAL CORPORATION, a corporation organized under the laws of the State
of Indiana (the “Corporation”), and _______________ (“Indemnitee”).

    

    RECITALS

    

    WHEREAS, highly competent
persons have become more reluctant to serve for-profit corporations as directors
or officers or in other capacities unless they are provided with adequate
protection through insurance or adequate indemnification against inordinate
risks of claims and actions against them arising out of their service to and
activities on behalf of the corporation;

    

    WHEREAS, the Board of
Directors of the Corporation (the “Board”) has determined that, in order to
attract and retain qualified individuals to serve as members of the Board and/or
officers of the Corporation and/or its Subsidiaries (as defined in Section 2),
the Corporation will attempt to maintain on an ongoing basis, at its sole
expense, liability insurance to protect persons serving the Corporation and its
subsidiaries from certain liabilities. Although the furnishing of such insurance
has been a customary and widespread practice among United States based
corporations and other business enterprises, the Corporation believes that,
given current market conditions and trends, such insurance may be available to
it in the future only at higher premiums and with more exclusions. At the same
time, directors and/or officers are being increasingly subjected to expensive
and time-consuming litigation relating to the business and affairs of
corporations.  The Corporation recognizes that the cost of defending
and otherwise participating in such litigation can be far greater than the
financial benefits of serving as a director and/or officer;

    

    WHEREAS, the indemnification
sections of the Corporation’s Restated Articles of Incorporation, Amended and
Restated Bylaws and the Indiana Business Corporation Law (the “IBCL”), when read
together, provide that the indemnification provisions set forth in those
documents need not be exclusive and thus contemplate that agreements may be
entered into between the Corporation and members of its Board with respect to
indemnification;

    

    WHEREAS, the uncertainties
relating to insurance have increased the difficulty of attracting and retaining
directors and officers;

    

    WHEREAS, the Board has
determined that the increased difficulty in attracting and retaining directors
and officers is detrimental to the best interests of the Corporation and its
constituencies;

    

    WHEREAS, it is reasonable,
prudent and necessary for the Corporation contractually to obligate itself to
indemnify, and to pay expenses on behalf of directors and officers to the
fullest extent permitted by applicable law so that they will serve or continue
to serve the Corporation free from undue concern that they will not be so
indemnified;

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WHEREAS, this Agreement is in
furtherance of the Corporation’s Restated Articles of Incorporation, Amended and
Restated Bylaws and any resolutions adopted pursuant thereto, and the IBCL, and
shall not be deemed a substitute therefor, nor to diminish or abrogate any
rights of Indemnitee thereunder;

    

    WHEREAS, the Corporation has
entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Indemnitee to serve or continue to serve as a director and/or
officer of the Corporation, and the Corporation acknowledges that Indemnitee is
relying upon this Agreement in serving as a director and/or officer of the
Corporation; and

    

    WHEREAS, Indemnitee is willing
to serve, continue to serve and to consider additional service for or on behalf
of the Corporation on the condition that he or she be so
indemnified;

    

    NOW, THEREFORE, in
consideration of the promises and the covenants contained herein, the
Corporation and Indemnitee do hereby covenant and agree as follows:

    

    1.           Services
to the Corporation.  Indemnitee will
serve or continue to serve the Corporation and its Subsidiaries for so long as
Indemnitee is duly elected or appointed or until Indemnitee tenders his or her
resignation or otherwise ceases to be a director and/or officer.

    

    2.           Definitions.  As used in this
Agreement:

    

    (a)           A
“Change in Control” shall be as defined in the Corporation’s Executive Severance
Benefit Plan or any successor plan.

    

    (b)           “Corporation”
shall include, in addition to the Corporation, any Subsidiary of which
Indemnitee is a director or officer, any corporation which results from or
survives a consolidation or merger with the Corporation as well as any
corporation absorbed in a consolidation or merger which, if its separate
existence had continued, would have had power and authority to indemnify its
directors, officers, employees or agents, so that if Indemnitee is or was a
director, officer, employee or agent of such constituent corporation, or is or
was serving at the request of such constituent corporation as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, Indemnitee shall stand in the same position under the
provisions of this Agreement with respect to the resulting or surviving
corporation as Indemnitee would have with respect to such constituent
corporation if its separate existence had continued.

    

    (c)           “Disinterested
Director” means a director of the Corporation who is not and was not a party to
the Proceeding as defined herein in respect of which indemnification is sought
by Indemnitee.

    

    (d)           “Enterprise”
shall mean any other corporation, partnership, limited liability Corporation,
joint venture, trust, employee benefit plan or other enterprise of which
Indemnitee is or was serving at the request of the Corporation as a director,
member, partner, officer, employee, agent or fiduciary.

    

    
      
         

      

      
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    (e)           “Expenses”
shall include all reasonable attorneys’ and accountants’ fees, retainers, court
costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, and all other disbursements or expenses of the types
customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, being or preparing to be a witness in, or
otherwise being involved with, a Proceeding as defined in this Agreement.
Expenses also shall include Expenses incurred in connection with any appeal
resulting from any Proceeding, including without limitation the premium,
security for, and other costs relating to any cost bond, supersedeas bond, or
other appeal bond or its equivalent. Expenses, however, shall not include
amounts paid in settlement by Indemnitee or the amount of judgments or fines
against Indemnitee.

    

    (f)           “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in
matters of corporation law and neither presently is, nor in the past five years
has been, retained to represent: (i) the Corporation or Indemnitee in any matter
material to either such party or (ii) any other party to the Proceeding giving
rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent Counsel” shall not include any person who, under the
applicable standards of professional conduct then prevailing, would have a
conflict of interest in representing either the Corporation or Indemnitee in an
action to determine Indemnitee’s rights under this Agreement.

    

    (g)           The
term “Proceeding” shall include any threatened, pending or completed action,
suit, arbitration, alternate dispute resolution mechanism, investigation
(including but not limited to any internal corporate investigation), inquiry,
administrative hearing or any actual, threatened or completed proceeding,
including any and all appeals, whether brought in the right of the Corporation
or otherwise and whether of a civil, criminal, administrative or investigative
nature, in which Indemnitee was, is, or will be a party to, a witness in or
otherwise participates in by reason of the fact that Indemnitee is or was a
director or officer of the Corporation, by reason of any action taken by him or
her or of any action on his or her part while acting as director or officer of
the Corporation, or by reason of the fact that he or she is or was serving at
the request of the Corporation as a director, officer, employee or agent of
another Enterprise, in each case whether or not serving in such capacity at the
time any liability or expense is incurred for which indemnification,
reimbursement, or payment of expenses can be provided under this Agreement;
except one initiated by a Indemnitee to enforce his rights under this
Agreement.  Any Indemnitee serving, in any capacity, (i) another
corporation of which a majority of the shares entitled to vote in the election
of its directors is held, directly or indirectly, by the Corporation, or (ii)
any employee benefit plan of the Corporation or of any corporation referred to
in clause (i), shall be deemed to be doing so at the request of the
Corporation.

    

    (h)           “Subsidiary”
means any subsidiary of the Corporation as defined by Rule 1-02(x) of Regulation
S-X and upon whose board the Indemnitee is serving as a director, any
corporation or other legal entity which results from or survives a consolidation
or merger with such Subsidiary as well as any corporation or other legal entity
absorbed in a consolidation or merger which, if its separate existence had
continued, would have had power and authority to indemnify its directors,
officers, employees or agents, so that if the Indemnitee is or was a director,
officer, employee or agent of such constituent corporation or other legal
entity, or is or was serving at the request of such constituent corporation or
other legal entity as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other Enterprise, the
Indemnitee shall stand in the same position under the provisions of this
Agreement with respect to the resulting or surviving corporation as the
Indemnitee would have with respect to such constituent corporation if its
separate existence had continued.

    

    
      
         

      

      
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    (i)           References
to “fines” shall include, but are not limited to, any excise tax assessed with
respect to any employee benefit plan; references to “serving at the request of
the Corporation” shall include any service as a director, officer, employee or
agent of the Corporation which imposes duties on, or involves services by, such
director, officer, employee or agent with respect to an employee benefit plan,
its participants or beneficiaries; and a person who acted in good faith and in a
manner he or she reasonably believed to be in the best interests of the
participants and beneficiaries of an employee benefit plan shall be deemed to
have acted in a manner “not opposed to the best interests of the Corporation” as
referred to in this Agreement.

    

    3.           Indemnification. If Indemnitee is, or is
threatened to be made, a party to, a witness in or otherwise participates in any
Proceeding, the Corporation shall indemnify Indemnitee, to the extent legally
permissible, against all Expenses, judgments, liabilities, fines, penalties and
amounts paid in settlement actually and reasonably incurred by Indemnitee or on
his or her behalf in connection with the Proceeding if Indemnitee (a)(i)
conducted himself or herself in good faith; (ii) reasonably believed that
Indemnitee’s conduct was in the best interests of the Corporation or in all
other cases, at least not opposed to the best interests of the Corporation; and
(iii) in the case of any criminal proceeding, had reasonable cause to believe
Indemnitee’s conduct was lawful, or had no reasonable cause to believe
Indemnitee’s conduct was unlawful; or (b) engaged in conduct for which
Indemnitee shall not be liable under any provisions of the Corporation’s
Restated Articles of Incorporation or Amended and Restated Bylaws.

    

    4.           Indemnification for Expenses
of a Party Who is Wholly or Partly Successful.

    

    (a)           Notwithstanding
Section 3 above, in any Proceeding, if Indemnitee is not wholly successful in
such Proceeding, but has been adjudged to be liable to the Corporation as to one
or more but less than all claims, issues or matters in such Proceeding, no
indemnification shall be made in respect of any claim, issue or matter as to
which Indemnitee shall have been adjudged to be liable to the Corporation,
unless and only to the extent that an Indiana Court (as defined in Section 22)
or any court in which the Proceeding was brought shall determine upon
application that, despite the adjudication of liability to the Corporation, in
view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to such indemnification.  However, in any Proceeding, the
Corporation shall indemnify Indemnitee against all Expenses actually and
reasonably incurred by him or her or on his or her behalf and, to the extent
permitted by law, amounts paid in settlement, in connection with each claim,
issue or matter as to which Indemnitee is successful on the merits or has
reached a settlement.

    

    (b)           To
the extent that Indemnitee has been successful on the merits or otherwise in
defense of any Proceeding, or in defense of any claim, issue or matter therein,
Indemnitee shall be indemnified by the Corporation to the fullest extent
authorized by the IBCL, as the same exists or may hereafter be amended, against
all Expenses actually and reasonably incurred or suffered by Indemnitee or on
Indemnitee’s behalf in connection therewith.  Indemnification pursuant
to this Section 4(b) shall not require a determination pursuant to Section 9 of
this Agreement.

    

    (c)           For
purposes of this Section 4 and without limitation, the termination of any claim,
issue or matter in a Proceeding in which Indemnitee is a defendant by dismissal,
with or without prejudice, shall be deemed to be a successful result as to such
claim, issue or matter.

    

    
      
         

      

      
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    5.           Additional
Indemnification.

    

    (a)           Notwithstanding
any limitation in Sections 3 or 4, the Corporation shall indemnify Indemnitee to
the extent permitted by law if Indemnitee is a party to or threatened to be made
a party to, a witness in or otherwise participates in any Proceeding against all
Expenses, judgments, fines and amounts paid in settlement actually and
reasonably incurred by Indemnitee in connection with the Proceeding (i) unless
Indemnitee’s conduct constitutes a breach of Indemnitee’s duty of loyalty to the
Corporation; (ii) except for liability for acts or omissions not in good faith
or which involve intentional misconduct or a knowing violation of law; or (iii)
except for liability related to any transaction from which Indemnitee derived an
improper benefit.

    

    (b)           For
purposes of this Agreement, the meaning of the phrase “to the extent permitted
by law" shall include, but not be limited to:

    

    i.           the
fullest extent permitted by the provision of the IBCL that authorizes or
contemplates additional indemnification by agreement, or the corresponding
provision of any amendment to or replacement of the IBCL; and

    

    ii.           the
fullest extent authorized or permitted by any amendments to or replacements of
the IBCL adopted after the date of this Agreement that increase the extent to
which a corporation may indemnify its officers and directors.

    

    6.           Exclusions.  Notwithstanding
any provision in this Agreement, the Corporation shall not be obligated under
this Agreement to make any payment for indemnity including Expenses, judgments,
liabilities, fines and amounts paid in settlement to the extent that the amount
for which Indemnitee seeks indemnification, or a portion thereof:

     
 

    (a)           has
actually been made to or on behalf of Indemnitee under any insurance policy,
contract, agreement or otherwise; or

    

    (b)           in
connection with any Proceeding (or any part of any Proceeding) initiated or
brought voluntarily by Indemnitee, including any Proceeding (or any part of any
Proceeding) initiated by Indemnitee against the Corporation or its directors,
officers or  employees, unless (i) the Board authorized the Proceeding
(or any part of any Proceeding) prior to its initiation or (ii) the Corporation
provides the indemnification, in its sole discretion, pursuant to the powers
vested in the Corporation under applicable law.

    

    7.           Notification
of Indemnifiable Claim.  Indemnitee shall,
as a condition precedent to his right to be indemnified under this Agreement,
give the Corporation notice in writing as soon as practicable of any claim made
against Indemnitee for which indemnification will or could be sought under this
Agreement.  Indemnitee agrees promptly to notify the Corporation in
writing upon being served with any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter
which will or could be subject to indemnification or payment of Expenses covered
hereunder. The Corporate Secretary of the Corporation shall, promptly upon
receipt of such notice, advise the Board in writing of such
notice.  The failure of Indemnitee to timely notify the Corporation
shall not relieve the Corporation of any obligation which it may have to the
Indemnitee under this Agreement or otherwise, unless such failure to provide
timely notice materially prejudices the Corporation.  The omission to
notify the Corporation will not relieve the Corporation from any liability for
indemnification which it may have to Indemnitee otherwise than under this
Agreement.

    

    
      
         

      

      
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    8.           Advancement
of Expenses.  Any Expenses
incurred by Indemnitee in connection with any Proceeding in which Indemnitee
was, is, or will be a party to, a witness in or otherwise participates by reason
of the fact that Indemnitee is or was a director or officer of the Corporation,
by reason of any action taken by him or her or of any action on his or her part
while acting as director or officer of the Corporation, or by reason of the fact
that he or she is or was serving at the request of the Corporation as a
director, officer, employee or agent of another Enterprise shall be paid by the
Corporation in advance of the final disposition of such matter within ten (10)
days after the receipt by the Corporation of a statement or statements from
Indemnitee requesting such advancement; provided, however, that the
payment of such Expenses incurred by Indemnitee in advance of the final
disposition of such matter under this Section 8 shall be made only upon receipt
of (i) a written affirmation of Indemnitee’s good faith belief that Indemnitee
has met the applicable standard of conduct set forth herein, (ii) an unlimited
written undertaking by Indemnitee to repay any Expenses so advanced in the event
that it shall ultimately be determined that Indemnitee is not entitled to be
indemnified by the Corporation, and (iii) a determination is made that the facts
then known to those making the determination would not preclude indemnification
under Section 3.  Payment of Expenses pursuant to this Section shall
be unsecured and interest free.  Payment of Expenses shall be made
without regard to Indemnitee’s ability to repay the expenses and without regard
to Indemnitee’s ultimate entitlement to indemnification under the other
provisions of this Agreement.  Such payment shall include any and all
reasonable Expenses incurred pursuing an action to enforce this right of payment
of Expenses, including Expenses incurred preparing and forwarding statements to
the Corporation to support the payment claimed.  This Section 8 shall
not apply to any claim for Expenses made by Indemnitee for which indemnity is
excluded pursuant to Section 6.  Notwithstanding anything else
contained in this Section 8, to the extent that the Corporation is prohibited by
applicable law from making payment of Expenses to Indemnitee prior to the
Corporation’s determination that Indemnitee is entitled to indemnification, the
Corporation shall not pay Expenses to the Indemnitee pursuant to this
Section.  Nothing herein shall be construed to limit the Corporation’s
right to seek damages from Indemnitee, including but not limited to the full
amount of the Expenses paid by the Corporation hereunder. The selection by the
Corporation of defense counsel for Indemnitee in connection with any Proceeding,
shall be made only with the approval of the Indemnitee, which approval shall not
be unreasonably withheld, upon the delivery to Indemnitee of written notice of
the Corporation’s election to do so. After delivery of such notice, approval of
such counsel by Indemnitee and the retention of such counsel by the Corporation,
the Corporation will not be liable to Indemnitee under this Agreement for any
fees of counsel subsequently incurred by Indemnitee with respect to the same
Proceeding, provided that (i) Indemnitee shall have the right to employ his
counsel in any such Proceeding at Indemnitee’s expense; and (ii) if (A) the
employment of counsel by Indemnitee has been previously authorized by the
Corporation, (B) Indemnitee shall have reasonably concluded that there may be a
conflict of interest between the Corporation and Indemnitee in the conduct of
any such defense, or (C) the Corporation shall not, in fact, have employed
counsel to assume the defense of such Proceeding, then the fees and expenses of
Indemnitee’s counsel shall be at the expense of the Corporation.

    

    
      
         

      

      
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    9.           Procedure Upon Application
for Indemnification.

    

    (a)           Upon
final disposition of a Proceeding for which indemnification is sought pursuant
to this Agreement, Indemnitee shall submit promptly (and in any event, no later
than the applicable statute of limitations) to the Board a written request for
indemnification averring that he or she has met the applicable standard of
conduct set forth herein.  Any indemnification made under this
Agreement shall be made by the Corporation only as authorized in the specific
case upon a determination that indemnification of the Indemnitee is proper in
the circumstances because Indemnitee has met the applicable standard of
conduct.  Such determination shall be made in the following manner:
(i) if a Change in Control shall have occurred and the Indemnitee is not a
director at the time of such determination, by Independent Counsel in a written
opinion to the Board, a copy of which shall be delivered to Indemnitee; and (ii)
in any other circumstance: (A) if there are two or more Disinterested Directors
on the Board, by the Board by a majority vote of a quorum of the Disinterested
Directors, or if a quorum of Disinterested Directors does not exist, by a
majority of the members of a committee of two or more Disinterested Directors
duly designated by the Board (directors who are not Disinterested Directors may
participate in such designation); or (B) by Independent Counsel. Indemnitee
shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee's entitlement to indemnification, including providing
to such person, persons or entity upon reasonable advance request any
documentation or information which is not privileged or otherwise protected from
disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination.  Any costs or expenses (including
attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with
the person, persons or entity making such determination shall be borne by the
Corporation (irrespective of the determination as to Indemnitee’s entitlement to
indemnification) and the Corporation hereby indemnifies and agrees to hold
Indemnitee harmless therefrom.

    

    
      
         

      

      
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    (b)           In
the event the determination of entitlement to indemnification is to be made by
Independent Counsel pursuant to Section 9(a) hereof, the Independent Counsel
shall be selected as provided in this Section 9 (b). If a Change in Control
shall not have occurred, the Independent Counsel shall be selected (x) if there
are two or more Disinterested Directors on the Board, by the Board by a majority
vote of  a quorum of the Disinterested Directors, or if a quorum of
Disinterested Directors does not exist by a majority of the members of a
committee of two or more Disinterested Directors appointed by vote or (y) if
there are fewer than two Disinterested Directors, by the Board, in which
selection directors who do not qualify as Disinterested Directors may
participate.  Such selection must be made within ten (10) days of
submission of a written request by Indemnitee for indemnification pursuant to
Section 9(a), and the Corporation shall give written notice to Indemnitee
advising him or her of the identity of the Independent Counsel so
selected.  If a Change in Control shall have occurred, the Independent
Counsel shall be selected by Indemnitee within ten (10) days of submission of a
written request by Indemnitee for indemnification pursuant to Section 9(a),
(unless Indemnitee shall request that such selection be made by the Board, in
which event the preceding sentence shall apply), and Indemnitee shall give
written notice to the Corporation advising it of the identity of the Independent
Counsel so selected.  In either event, Indemnitee or the Corporation,
as the case may be, may, within ten (10) days after such written notice of
selection shall have been given, deliver to the Corporation or to Indemnitee, as
the case may be, a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so
selected does not meet the requirements of “Independent Counsel” as defined in
Section 2 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion. The objection must also
include a proposed substitute Independent Counsel.  If objection
including a proposed substituted Independent Counsel is timely made, such
substituted Independent Counsel shall serve as Independent Counsel unless
objected to within ten (10) days.  An objection to the substituted
Independent Counsel may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as
defined in Section 2 of this Agreement, and the objection shall set forth with
particularity the factual basis of such assertion.  If written
objection is made, the Independent Counsel or substituted Independent Counsel
proposed may not serve as Independent Counsel unless and until such objection is
withdrawn or a court has determined that such objection is without
merit.  If, within thirty (30) days after submission by Indemnitee of
a written request for indemnification pursuant to Section 9(a) hereof, the
parties have not agreed upon the selection of the Independent Counsel, either
the Corporation or Indemnitee may petition a court of competent jurisdiction for
resolution of any objection which shall have been made by the Corporation or
Indemnitee to the other’s selection of Independent Counsel and/or for the
appointment as Independent Counsel of a person or entity selected by the Court
or by such other person or entity as the Court shall designate, and the person
or entity with respect to whom all objections are so resolved or the person or
entity so appointed shall act as Independent Counsel under Section 9(a)
hereof.

    

    
      
         

      

      
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    10.           Presumptions and Effect of
Certain Proceedings.

    

    (a)           The
submission of the Application for Indemnification to the Board shall create a
rebuttable presumption that the Indemnitee is entitled to indemnification under
this Agreement, and the Board or Independent Counsel, as the case may be, shall
within sixty (60) days after submission of the Application for Indemnification
specifically determine that the Indemnitee is so entitled, unless it or they
possess sufficient evidence to rebut the presumption that Indemnitee has met the
applicable standard of conduct.  If a determination shall have been
made pursuant to this Agreement that Indemnitee is entitled to indemnification,
the Corporation shall be bound by such determination in any judicial proceeding
commenced pursuant to Section 11, absent (i) a misstatement by Indemnitee of a
material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for
indemnification, or (ii) a prohibition of such indemnification under applicable
law.  Neither the failure of the Corporation (including by its
directors or Independent Counsel) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification is
proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Corporation (including by its
directors or Independent Counsel) that Indemnitee has not met such applicable
standard of conduct, shall be a defense to the action or create a presumption
that Indemnitee has not met the applicable standard of
conduct.  Moreover, the fact that the Corporation has paid the
Indemnitee’s Expenses pursuant to Section 8 herein shall not create a
presumption that Indemnitee has met the applicable standard of conduct for
indemnification.

    

    (b)           If
the person, persons or entity empowered or selected under Section 9 of this
Agreement to determine whether Indemnitee is entitled to indemnification shall
not have made a determination within sixty (60) days after receipt by the
Corporation of the request therefore, the requisite determination of entitlement
to indemnification shall be deemed to have been made and Indemnitee shall be
entitled to such indemnification, absent (i) a misstatement by Indemnitee of a
material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for
indemnification, or (ii) a prohibition of such indemnification under applicable
law; provided, however, that such 60-day period may be extended for a reasonable
time, not to exceed an additional thirty (30) days, if the person, persons or
entity making the determination with respect to entitlement to indemnification
in good faith requires such additional time for the obtaining or evaluating of
documentation and/or information relating thereto.

    

    (c)           The
termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement, or upon a plea of nolo contendere or its
equivalent, shall not (except as otherwise expressly provided in this Agreement)
of itself adversely affect the right of Indemnitee to indemnification or create
a presumption that Indemnitee did not act in good faith and in a manner which he
reasonably believed to be in or not opposed to the best interests of the
Corporation.

    

    (d)           For
purposes of any determination of good faith, Indemnitee shall be deemed to have
acted in good faith if Indemnitee’s action is based on the books or records of
the Enterprise, including financial statements, on information supplied to
Indemnitee by the officers of the Enterprise in the course of their duties, on
the advice of legal counsel for the Enterprise or on information or records
given or reports made to the Enterprise by an independent certified public
accountant or by an appraiser or other expert selected with reasonable care by
the Enterprise.  The provisions of this Section 10 (d) shall not be
deemed exclusive or to limit in any way the other circumstances in which the
Indemnitee may be deemed to have met the applicable standard of conduct set
forth in this Agreement.

    
      
         

      

      
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    (e)           To
the extent legally permissible, the knowledge and/or actions, or failure to act,
of any director, officer, agent or employee of the Enterprise shall not be
imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement.

    

    11.           Remedies of
Indemnitee.

    

    (a)           In
the event that (i) a determination is made pursuant to Section 9 of this
Agreement that Indemnitee is not entitled to indemnification under this
Agreement, (ii) payment of Expenses is not timely made pursuant to Section 8 of
this Agreement, (iii) no determination of entitlement to indemnification shall
have been made pursuant to Section 9 of this Agreement within sixty (60) days
after receipt by the Corporation of the request for indemnification, or (iv)
payment of indemnification pursuant to this Agreement is not made within ten
(10) days after a determination has been made that Indemnitee is entitled to
indemnification, Indemnitee shall be entitled to an adjudication by a court of
his entitlement to such indemnification or payment of Expenses.

    

    (b)           In
the event that Indemnitee successfully sues the Corporation for indemnification
or payment of Expenses, and is successful in whole or in part, Indemnitee shall
be entitled to be paid by the Corporation for the Expense of prosecuting such
suit.  If the Corporation sues Indemnitee to recover Expenses paid
prior to final disposition under Section 8 and Indemnitee is successful in
defending such suit, in whole or in part, Indemnitee shall be entitled to be
paid the Expense of defending such suit.

    

               (c)           In
the event that a determination shall have been made under this Agreement that
Indemnitee is not entitled to indemnification, any judicial proceeding commenced
pursuant to this Section shall be conducted in all respects as a de novo trial
on the merits and Indemnitee shall not be prejudiced by reason of that adverse
determination. In any judicial proceeding pursuant to this Section, the
Corporation shall have the burden of proving Indemnitee is not entitled to
indemnification or payment of Expenses, as the case may be.

    

               (d)           The
Corporation shall be precluded from asserting in any judicial proceeding
commenced pursuant to this Section that the procedures and presumptions of this
Agreement are not valid, binding and enforceable and shall stipulate in any such
court that the Corporation is bound by all the provisions of this Agreement. The
Corporation shall to the extent permitted by law, indemnify Indemnitee against
any and all Expenses and, if requested by Indemnitee, shall (within ten (10)
days after receipt by the Corporation of a written request therefore) pay in
advance such Expenses to Indemnitee, which are incurred by Indemnitee in
connection with any action brought by Indemnitee for indemnification or payment
of Expenses from the Corporation under this Agreement or under any directors’
and officers’ liability insurance policies maintained by the Corporation,
regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, payment of Expenses or insurance recovery, as the case may
be.

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    12.           Non-exclusivity; Survival of
Rights; Insurance; Subrogation.

    

    (a)           The
rights of indemnification and to receive payment of Expenses as provided by this
Agreement shall not be deemed exclusive of any other rights to which Indemnitee
may at any time be entitled under applicable law, the Corporation’s Restated
Articles of Incorporation, the Corporation’s Amended and Restated Bylaws, any
agreement, a resolution of directors  or any other authorization
adopted by shareholders. No amendment, alteration or repeal of this Agreement or
of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any action taken or omitted by such Indemnitee
prior to such amendment, alteration or repeal. To the extent that a change in
Indiana law, whether by statute or judicial decision, permits greater
indemnification or payment of Expenses than would be afforded currently under
the Corporation’s Restated Articles of Incorporation, Amended and Restated
Bylaws and this Agreement, it is the intent of the parties hereto that
Indemnitee shall enjoy by this Agreement the greater benefits so afforded by
such change. No right or remedy herein conferred is intended to be exclusive of
any other right or remedy, and every other right and remedy shall be cumulative
and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other right or remedy.

    

    (b)           The
Corporation shall, from time to time, make the good faith determination whether
or not it is practicable for the Corporation to obtain and maintain a policy or
policies of insurance with reputable insurance companies providing the
directors, officers, employees, or agents of the Corporation with coverage for
losses from wrongful acts, or to ensure the Corporation’s performance of its
indemnification obligations under this Agreement.  Among other
considerations, the Corporation will weigh the costs of obtaining such insurance
coverage against the protection afforded by such coverage.  To the
extent that the Corporation maintains an insurance policy or policies providing
liability insurance for directors of the Corporation or of any other
corporation, partnership, limited liability Corporation, joint venture, trust,
employee benefits plan or other enterprise which the Indemnitee serves at the
request of the Corporation, Indemnitee shall be covered by such policy or
policies in such manner as to provide the Indemnitee the same rights and
benefits as are accorded to the most favorably insured of the Corporation’s
directors.  The Corporation shall thereafter take all necessary or
desirable action to cause such insurers to pay, on behalf of the Indemnitee, all
amounts payable as a result of such proceeding in accordance with the terms of
such policies.

    

    (c)           In
the event of any payment under this Agreement, the Corporation shall be
subrogated to the extent of such payment to all of the rights of recovery of
Indemnitee, who shall execute all papers required and take all actions necessary
to secure such rights, including execution of such documents as are necessary to
enable the Corporation to bring suit to enforce such rights.

    

    13.           Duration
of Agreement.   This
Agreement shall continue until and terminate upon the later of: (a) 10 years
after the date that Indemnitee shall have ceased to serve as a director or
officer of the Corporation or as a director, officer, employee or agent of any
other corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise which Indemnitee served at the request of the Corporation (“Ten
Year Anniversary Date”); or (b) 1 year after the final termination of each and
every Proceeding, commenced prior to the Ten Year Anniversary Date.

    

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    14.           Successors
and Assigns.

    

    (a)           This
Agreement shall be binding upon and be enforceable by the parties hereto and
their respective successors and assigns (including any direct or indirect
successor by purchase, merger, consolidation or otherwise to all or
substantially all of the business or assets of the Corporation), shall continue
as to Indemnitee after he or she has ceased to be a director, officer, employee
or agent of the Corporation and shall inure to the benefit of Indemnitee and his
or her heirs, assigns, executors, devisees and administrators and other legal
representatives.

    

    (b)           The
Corporation shall require and cause any successor (whether direct or indirect by
purchase, merger, consolidation or otherwise) to all, substantially all or a
substantial part, of the business and/or assets of the Corporation, by written
agreement in form and substance satisfactory to Indemnitee, expressly to assume
and agree to perform this Agreement in the same manner and to the same extent
that the Corporation would be required to perform if no such succession had
taken place.

    

    15.           Severability. If any provision or
provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever: (a) the validity, legality and
enforceability of the remaining provisions of this Agreement (including without
limitation, each portion of any Section of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that is not itself
invalid, illegal or unenforceable) shall not in any way be affected or impaired
thereby and shall remain enforceable to the fullest extent permitted by law; (b)
such provision or provisions shall be deemed reformed to the extent necessary to
conform to applicable law and to give the maximum effect to the intent of the
parties hereto; and (c) to the fullest extent possible, the provisions of this
Agreement (including, without limitation, each portion of any Section of this
Agreement containing any such provision held to be invalid, illegal or
unenforceable, that is not itself invalid, illegal or unenforceable) shall be
construed so as to give effect to the intent manifested thereby.

    

    16.           Entire
Agreement.  Except as
otherwise specified herein, this Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings, oral, written and implied,
between the parties hereto with respect to the subject matter
hereof.

    

    17.           Effectiveness
of Agreement.  This Agreement
shall be effective as of the date set forth on the first page and may apply to
acts or omissions of Indemnitee which occurred prior to such date if Indemnitee
was an officer, director, employee or other agent of the Corporation, or was
serving at the request of the Corporation as a director, officer, employee or
agent of another corporation, partnership, limited liability Corporation, joint
venture, trust or other enterprise, at the time such act or omission occurred,
and shall continue to exist after the rescission or restrictive modification of
this Agreement with respect to events occurring prior to such rescission or
restrictive modification.

    

    18.           Modification
and Waiver. No
supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by the parties thereto. No waiver of any of the provisions
of this Agreement shall be deemed or shall constitute a waiver of any other
provisions of this Agreement nor shall any waiver constitute a continuing
waiver.

    

    19.           Notices.  All notices,
requests, demands and other communications under this Agreement shall be in
writing and shall be deemed to have been duly given (a) if delivered by hand and
receipted for by the party to whom said notice or other communication shall have
been directed, or (b) mailed by certified or registered mail with postage
prepaid, on the third business day after the date on which it is so
mailed:

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    If to
Indemnitee, at the address indicated on the signature page of this Agreement, or
such other address as Indemnitee shall provide to the Corporation.

    

    If to the
Corporation, to

    

    Lincoln
National Corporation

    Attention:  Corporate
Secretary

    150 N.
Radnor Chester Road

    Radnor,
Pennsylvania 19087

    

    or to any
other address as may have been furnished to Indemnitee by the
Corporation.

    

    20.           Contribution. The Corporation hereby
agrees to fully indemnify and hold harmless Indemnitee from any claims for
contribution which may be brought by officers, directors or employees of the
Corporation other than Indemnitee who may be jointly liable with
Indemnitee.

    

    21.           Specific
Performance.  The Corporation
and Indemnitee agree that a monetary remedy for breach of this Agreement, at
some later date, may be inadequate, impracticable and difficult of proof, and
further agree that such breach may cause Indemnitee irreparable
harm.  Accordingly, the parties hereto agree that Indemnitee may
enforce this Agreement by seeking injunctive relief and/or specific performance
hereof, without any necessity of showing actual damage or irreparable harm and
that by seeking injunctive relief and/or specific performance, Indemnitee shall
not be precluded from seeking or obtaining other relief to which he or she may
be entitled.  The Corporation and Indemnitee further agree that
Indemnitee shall be entitled to such specific performance and injunctive relief,
including temporary restraining orders, preliminary injunctions and permanent
injunctions, without the necessity of posting bonds or other undertaking in
connection therewith.  The Corporation acknowledges that in the
absence of a waiver, a bond or undertaking may be required of Indemnitee by an
Indiana Court, (as defined in Section 2) and the Corporation hereby waives any
such requirement of such a bond or undertaking.

    

    22.           Applicable
Law and Consent to Jurisdiction. This Agreement and the legal
relations among the parties shall be governed by, and construed and enforced in
accordance with, the laws of the State of Indiana, without regard to its
conflict of laws rules.  The Corporation and Indemnitee hereby
irrevocably and unconditionally (i) agree that any action or proceeding arising
out of or in connection with  this Agreement shall be brought only in
the appropriate court in the State of Indiana (the "Indiana Court"), and not in
any other state or federal court in the United States of America or any court in
any other country, (ii) consent to submit to the exclusive jurisdiction of the
Indiana Court for purposes of any action or proceeding arising out of or in
connection with this Agreement, (iii) waive any objection to the laying of venue
of any such action or proceeding in the Indiana Court, and (iv) waive, and agree
not to plead or to make, any claim that any such action or proceeding brought in
the Indiana Court has been brought in an improper or inconvenient
forum.

    

    23.           Identical
Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall
for all purposes be deemed to be an original but all of which together shall
constitute one and the same Agreement. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the
existence of this Agreement.

    

    24.           Miscellaneous. Use of the masculine pronoun
shall be deemed to include usage of the feminine pronoun where appropriate. The
headings of the paragraphs of this Agreement are inserted for convenience only
and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

    
      
         

      

      
        13a4a.htm

     Exhibit
4(a)

     

     

     

    Counterpart
__ of 50

     

     

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

    (Successor
by merger to Entergy Gulf States, Inc., formerly Gulf States Utilities
Company)

     

     

    446 North
Boulevard
Baton
Rouge, Louisiana 70802

     

     

    TO

     

     

    THE
BANK OF NEW YORK MELLON

    (Formerly
The Bank of New York, successor to JPMorgan Chase Bank, N.A.)

    as
Trustee

     

     

    101
Barclay Street

    New York,
New York 10286

     

     

    __________________

     

     

     

     

     

    Seventy-seventh
Supplemental Indenture

     

     

    Dated as
of September 1, 2009

     

     

    __________________

     

     

    Relating
to an Issue of First Mortgage Bonds,

    5.59%
Series due October 1, 2024

    and
Supplementing Indenture of Mortgage

    dated
September 1, 1926

    __________________

     

     

    THIS INSTRUMENT GRANTS A
SECURITY

    INTEREST BY A
UTILITY

     

     

    THIS INSTRUMENT CONTAINS
AFTER-ACQUIRED

    PROPERTY
PROVISIONS

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

    TABLE OF
CONTENTS

    

    Inserted
for convenience only and not as a part of the

    Seventy-seventh
Supplemental Indenture

    

     

    
      
        	 	Page 
	 	 
	 Parties	1 
	 Recitals	1 
	 Performance of
      Acts Necessary to Legality 	6 
	 Granting
      Clauses 	6 
	 Exception
      Clause 	7 
	 Habendum	8 
	 Declaration of
      Trust 	8 
	 Execution	17 
	 Acknowledgements	 19 
      

      

       

    

     

    ARTICLE
ONE

    

    BONDS OF
THE 2024 SERIES AND

    CERTAIN
PROVISIONS RELATING THERETO

    

     

    
      
        	 Section
      1.01.	8 
	     
      A.   Terms of Bonds of the 2024 Series 	8 
	     
      B.   Form of Bonds of the 2024 Series 	9 
	 Section
      1.02.  Redemption Provisions for Bonds of the 2024
      Series 	14 
	 Section
      1.03.  Duration of Effectiveness of Article One 	15 

      

    

    

    ARTICLE
TWO

    

     

    
      
        	 Section
      2.01. 	15 
	 Section
      2.02. 	15 
	 Section
      2.03.	16 
	 Section
      2.04. 	16 
	 Section
      2.05 	16 

      

    THIS
SEVENTY-SEVENTH SUPPLEMENTAL INDENTURE, dated as of the 1st day
of September, 2009, by and between ENTERGY GULF STATES LOUISIANA, L.L.C.
(successor by merger to Entergy Gulf States, Inc., formerly Gulf States
Utilities Company, a Texas corporation hereinafter sometimes called the
Predecessor Company), a limited liability company duly organized and existing
under the laws of the State of Louisiana (hereinafter sometimes called the
Company), party of the first part, and THE BANK OF NEW YORK MELLON (formerly The
Bank of New York, successor to JPMorgan Chase Bank, N.A.), a New York banking
corporation and having its corporate trust office in the Borough of Manhattan,
City and State of New York, as successor trustee under the Indenture of Mortgage
and indentures supplemental thereto hereinafter mentioned (hereinafter sometimes
called the Trustee), party of the second part;

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered its Indenture of
Mortgage, dated September 1, 1926 (hereinafter sometimes called the Original
Indenture), to The Chase National Bank of the City of New York, as trustee, in
and by which the Predecessor Company conveyed and mortgaged to said The Chase
National Bank of the City of New York, as trustee, certain property, therein
described, to secure the payment of its bonds issued and to be issued under said
Original Indenture in one or more series, as therein provided; and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to The Chase
National Bank of the City of New York, as trustee, the First through the Fourth
Supplemental Indentures, all supplementing and modifying said Original
Indenture; and

     

     

    WHEREAS,
on March 21, 1939, The Chase National Bank of the City of New York resigned as
trustee under the Original Indenture and all indentures supplemental thereto as
aforesaid, pursuant to Section 4 of Article XIV of the Original Indenture, and
by an Indenture dated March 21, 1939 said resignation was accepted and Central
Hanover Bank and Trust Company was duly appointed the successor trustee under
the Original Indenture and all indentures supplemental thereto, said resignation
and appointment both being effective as of March 21, 1939, and the Central
Hanover Bank and Trust Company did by said Indenture dated March 21, 1939 accept
the trust under the Original Indenture and all indentures supplemental thereto;
and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to Central Hanover
Bank and Trust Company, as successor trustee, the Fifth through the Tenth
Supplemental Indentures, supplementing and modifying said Original Indenture;
and

     

     

    WHEREAS,
the name of Central Hanover Bank and Trust Company, successor trustee, as
aforesaid, was changed effective June 30, 1951 to “The Hanover Bank”;
and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to The Hanover
Bank, as successor trustee, the Eleventh through the Twentieth Supplemental
Indentures, supplementing and modifying said Original Indenture;
and

     

     

    WHEREAS,
on September 8, 1961, pursuant to the laws of the State of New York, The Hanover
Bank, successor trustee, as aforesaid, was duly merged into Manufacturers Trust
Company, a New York corporation, under the name “Manufacturers Hanover Trust
Company,” and Manufacturers Hanover Trust Company thereupon became the duly
constituted successor trustee under the Original Indenture, as supplemented and
modified as aforesaid; and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to Manufacturers
Hanover Trust Company, as successor trustee, the Twenty-first through the
Fifty-fourth Supplemental Indentures, supplementing and modifying said Original
Indenture; and

     

     

    WHEREAS,
on June 19, 1992, pursuant to the laws of the State of New York, Manufacturers
Hanover Trust Company, successor trustee, as aforesaid, was duly merged into
Chemical Bank, a New York corporation, under the name “Chemical Bank,” and
Chemical Bank thereupon became the duly constituted successor trustee under the
Original Indenture, as supplemented and modified as aforesaid; and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to Chemical Bank,
as successor trustee, the Fifty-fifth through the Fifty-seventh Supplemental
Indentures, supplementing and modifying said Original Indenture;
and

     

     

    WHEREAS,
the name of Chemical Bank, successor trustee, as aforesaid, was duly merged with
and changed effective July 14, 1996 to “The Chase Manhattan Bank”;
and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to The Chase
Manhattan Bank, as successor trustee, the Fifty-eighth through Sixtieth
Supplemental Indentures, supplementing and modifying said Original Indenture;
and

     

     

    WHEREAS,
the name of The Chase Manhattan Bank, successor trustee, as aforesaid, was duly
changed effective November 10, 2001 to “JPMorgan Chase Bank”; and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to JPMorgan Chase
Bank, as successor trustee, the Sixty-first through Sixty-seventh Supplemental
Indentures, supplementing and modifying said Original Indenture;
and

     

     

    WHEREAS,
effective November 13, 2004, JPMorgan Chase Bank, successor trustee, was
converted from a New York corporation to a national banking association under
the name “JPMorgan Chase Bank, N.A.”; and

     

     

    WHEREAS,
the Predecessor Company has heretofore executed and delivered to JPMorgan Chase
Bank, N.A., as successor trustee, the Sixty-eighth through Seventy-fourth
Supplemental Indentures, supplementing and modifying said Original Indenture;
and

     

     

    WHEREAS,
on October 3, 2007, JPMorgan Chase Bank, N.A. resigned as trustee under the
Original Indenture and all indentures supplemental thereto as aforesaid, by an
Agreement of Resignation, Appointment and Acceptance dated October 3, 2007, said
resignation was accepted, and The Bank of New York was duly appointed the
successor trustee under the Original Indenture and all indentures supplemental
thereto, said resignation and appointment both being effective as of October 3,
2007, and The Bank of New York did by said Agreement dated October 3, 2007
accept the trust under the Original Indenture and all indentures supplemental
thereto; and

     

     

    WHEREAS,
the series of bonds established under the Seventh Supplemental Indenture
supplementing and modifying said Original Indenture and under each successive
supplemental indenture have been designated respectively and are referred to
herein as “Bonds of the 1976, 1978, 1979, 1980, 1981, 1982, 1983, 1986, 1987,
1988, 1989, 1989A, 1990, 1992, 1996, 1997, 1998, 1998A, 1999, 1999A, 2000,
2000A, 2001, 2003, 2004, 2005, 2006, 2007, 2009, 2009A, 1987A, 2010, 1991, 1993,
1992A, 2012, 2013, 2013A, 1994, 2014B, C and D, 2015, 2016, 2016A, 1994A, 2002,
2022, 2004A, 2024, 1996A, 1997A, 1998B, 1999B, 2003A, MTN, 2003B, 2004B, 2007A,
2012A, 2008, 2007B, 2033, 2015A, 2011, 2009B, 2014E, 2035, 2015B, 2010A, 2006A,
2008A, 2011B and 2018 Series”; and

     

     

    WHEREAS,
effective as of December 26, 2007, the Predecessor Company obtained the release
from the lien of the Original Indenture, as supplemented and modified of all of
its real property located in Texas and substantially all of its personal
property located in Texas that was part of the trust estate, together with
certain associated rights, privileges and franchises, as well as certain
undivided interests in mortgaged property located in Louisiana, as more
particularly described in the instruments of partial release filed with respect
thereto on or before December 26, 2007; and

     

     

    WHEREAS,
effective as of 1:00 P.M. Central Standard Time, December 31, 2007, the
Predecessor Company underwent a merger by division under Texas law pursuant to
which, among other things, all of its property located in Texas, together with
certain property located in Louisiana, was allocated to Entergy Texas, Inc.,
substantially all of its property located in Louisiana was retained by the
Predecessor Company, and all of its obligations and liabilities under the
Original Indenture, as supplemented and modified and the Bonds were retained by
the Predecessor Company; and

     

     

    WHEREAS,
effective as of 4:00 P.M. Central Standard Time, December 31, 2007 (hereinafter
sometimes called the Effective Time), the Predecessor Company merged
(hereinafter sometimes called the Merger) into the Company pursuant to an
Agreement and Plan of Merger and Reorganization of Entergy Gulf States, Inc.
into Entergy Gulf States Louisiana, L.L.C. and a Certificate and Articles of
Merger (hereinafter sometimes collectively called the Merger Documents),
pursuant to which, among other things, (1) all of the rights, privileges,
franchises, assets, liabilities and obligations of the Predecessor Company were
allocated to the Company; and (2) the identity of the Predecessor Company was
merged into that of the Company; and

     

     

    WHEREAS,
pursuant to Section 14.01 of the Original Indenture, as restated by the Seventh
Supplemental Indenture, the Company and the Trustee executed the Seventy-fifth
Supplemental Indenture dated as of December 31, 2007 whereby the Company assumed
and agreed to pay duly and punctually the principal of and interest on the Bonds
issued under the Original Indenture, as supplemented and modified in accordance
with the provisions of said Bonds and the Original Indenture, as supplemented
and modified, and agreed to perform and fulfill all the terms, covenants and
conditions of the Original Indenture, as supplemented and modified binding the
Predecessor Company; and

     

     

    WHEREAS,
pursuant to Section 14.02 of the Original Indenture, as restated by the Seventh
Supplemental Indenture, the Company has succeeded to the Predecessor Company
under the Original Indenture and all indentures supplemental thereto with the
same effect as if it had been named in the Original Indenture, as supplemented
and modified, as the mortgagor company and in the Bonds as the obligor thereon
or maker thereof;

     

     

    WHEREAS,
pursuant to Section 14.03 of the Original Indenture, as restated by the Seventh
Supplemental Indenture, in respect of property owned by the Predecessor Company
at the time of the Merger as provided in Section 14.01 of the Original
Indenture, as restated by the Seventh Supplemental Indenture, and substitutions,
replacements, additions, betterments, developments, extensions and enlargements
thereto subsequently made, constructed or acquired, the rights and duties of the
Company shall be the same as the rights and duties of the Predecessor Company
would have been had the Merger not taken place; and

     

     

    WHEREAS,
pursuant to Section 14.04 of the Original Indenture, as restated by the Seventh
Supplemental Indenture, in respect of property at the time of the Merger owned
by the Company and/or of property thereafter acquired by the Company except said
substitutions, replacements, additions, betterments, developments, extensions
and enlargements to, of or upon the property owned by the Predecessor Company
referred to in Section 14.03 of the Original Indenture, as restated by the
Seventh Supplemental Indenture, the Original Indenture, as supplemented and
modified shall not become or be a lien upon any of such property;
and

     

     

    WHEREAS,
effective as of March 25, 2008, the Company obtained the release from the lien
of the Original Indenture, as supplemented and modified, of all of the remainder
of its property located in Texas that was part of the trust estate, together
with certain associated rights, privileges and franchises, as well as certain
undivided interests in mortgaged property located in Louisiana, as more
particularly described in the instruments of partial release filed with respect
thereto on or before March 25, 2008; and

     

     

    WHEREAS,
the name of The Bank of New York, successor trustee, as aforesaid, was duly
changed effective July 1, 2008 to “The Bank of New York Mellon”;
and

     

     

    WHEREAS,
the Company has heretofore executed and delivered to The Bank of New York
Mellon, as successor trustee, the Seventy-sixth Supplemental Indenture,
supplementing and modifying said Original Indenture; and

     

     

    WHEREAS,
under the Original Indenture, as supplemented and modified, any new series of
Bonds may at any time be established by the Board of Directors of the Company
and the terms thereof may be specified by a supplemental indenture executed by
the Company and the Trustee; and

     

     

    WHEREAS,
the Company proposes to create under the Original Indenture, as supplemented and
modified as aforesaid and as further supplemented by this Seventy-seventh
Supplemental Indenture (the Original Indenture as so supplemented and modified
being hereinafter sometimes called the Indenture), a new series of Bonds to be
designated First Mortgage Bonds, 5.59% Series due October 1, 2024, such Bonds
when originally issued to be dated October 2, 2009 and to mature on October 1,
2024 (hereinafter sometimes referred to as the Bonds of the 2024 Series, and
presently to issue $300,000,000 aggregate principal amount of the Bonds of the
2024 Series; and

     

     

    WHEREAS,
all acts and proceedings required by law and by the Articles of Organization and
Operating Agreement of the Company necessary to make the Bonds of the 2024
Series, when executed by the Company, authenticated and delivered by the Trustee
and duly issued, the valid, binding and legal obligations of the Company, and to
constitute the Indenture a valid and binding mortgage for the security of all
the Bonds of the Company issued or to be issued under the Indenture, in
accordance with its and their terms, have been done and taken; and the execution
and delivery of this Seventy-seventh Supplemental Indenture have been in all
respects duly authorized;

     

     

    NOW,
THEREFORE, THIS SEVENTY-SEVENTH SUPPLEMENTAL INDENTURE WITNESSETH:

     

     

    That in
order to secure the payment of the principal of, premium, if any, and interest
on, all Bonds at any time issued and outstanding under the Indenture, according
to their tenor, purport and effect, and to secure the performance and observance
of all the covenants and conditions in said Bonds and in the Indenture
contained, and to declare the terms and conditions upon and subject to which the
Bonds of the 2024 Series are and are to be issued and secured, and for and in
consideration of the premises and of the mutual covenants herein contained and
of the acceptance of the Bonds of the 2024 Series by the holders thereof, and of
the sum of $1 duly paid to the Company by the Trustee, at or before the
execution and delivery hereof, and for other valuable consideration, the receipt
whereof is hereby acknowledged, the Company has executed and delivered this
Seventy-seventh Supplemental Indenture, and by these presents does grant,
bargain, sell, alienate, remise, release, convey, assign, transfer, mortgage,
hypothecate, pledge, set over and confirm unto the Trustee, its successors in
trust and assigns, the following property, rights, privileges and franchises
hereinafter described, acquired or constructed by the Company after the
Effective Time to the extent constituting substitutions, replacements,
additions, betterments, developments, extensions or enlargements to, of or upon
the trust estate allocated to the Company by the Merger Documents, together in
each case with any substitutions, replacements, additions, betterments,
developments, extensions and enlargements thereto, thereof or thereupon
subsequently made, constructed or acquired by the Company (other than excepted
property as hereinafter defined):

     

     

    CLAUSE
I

     

     

    All and
singular the lands, real estate, chattels real, interests in land, leaseholds,
ways, rights of way, grants, easements, servitudes, rights pursuant to
ordinances, consents, permits, patents, licenses, lands under water, water and
riparian rights, franchises, privileges, immunities, rights to construct,
maintain and operate distribution and transmission systems, all other rights and
interests, gas, water, steam and electric light, heat and power plants and
systems, dams, and dam sites, stations and substations, powerhouses, electric
transmission and distribution lines and systems, pipe lines, conduits, towers,
poles, wires, cables and all other structures, machinery, engines, boilers,
dynamos, motors, transformers, generators, electric and mechanical appliances,
office buildings, warehouses, garages, stables, sheds, shops, tunnels, subways,
bridges, other buildings and structures, implements, tools and other apparatus,
appurtenances and facilities, materials and supplies, and all other property of
any nature appertaining to any of the plants, systems, business or operations of
the Company, whether or not affixed to the realty, used in the operation of any
of the premises or plants or systems, or otherwise, allocated to the Company by
the Merger Documents or constituting substitutions, replacements, additions,
betterments, developments, extensions or enlargements to, of or upon the trust
estate allocated to the Company by the Merger Documents (other than excepted
property as hereinafter defined); including, but not limited to, all its
properties situated in the Cities of Baton Rouge, Jennings and Lake Charles and
in the Parishes of Acadia, Allen, Ascension, Beauregard, Calcasieu, Cameron,
East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson Davis, Lafayette,
Livingston, Pointe Coupee, St. Helena, St. Landry, St. Martin, St. Tammany,
Tangipahoa, Vermilion, Washington, West Baton Rouge and West Feliciana,
Louisiana, and vicinity allocated to the Company by the Merger Documents or
constituting substitutions, replacements, additions, betterments, developments,
extensions or enlargements to the trust estate allocated to the Company by the
Merger Documents (other than excepted property as hereinafter
defined).

     

     

    CLAUSE
II

     

     

    All
corporate, Federal, State, county (parish), municipal and other permits,
consents, licenses, bridge licenses, bridge rights, river permits, franchises,
patents, rights pursuant to ordinances, grants, privileges and immunities of
every kind and description allocated to the Company by the Merger Documents or
constituting substitutions, replacements, additions, betterments, developments,
extensions or enlargements to, of or upon the trust estate allocated to the
Company by the Merger Documents (other than excepted property as hereinafter
defined).

     

     

    CLAUSE
III

     

     

    Also all
other property, real, personal or mixed, tangible or intangible of every kind,
character and description, allocated to the Company by the Merger Documents or
constituting substitutions, replacements, additions, betterments, developments,
extensions or enlargements to, of or upon the trust estate allocated to the
Company by the Merger Documents (other than excepted property as hereinafter
defined), whether or not useful in the generation, manufacture, production,
transportation, distribution, sale or supplying of electricity, steam, water or
gas.

     

     

    CLAUSE
IV

     

     

    PROPERTIES
EXCEPTED

     

     

    There is,
however, expressly excepted and excluded from the lien and operation of this
Indenture (1) all “excepted property” as defined and described in Granting
Clause VII of the Original Indenture, as restated by the Seventh Supplemental
Indenture (omitting from such exception specifically described property
thereafter expressly subjected to the lien of the Indenture), (2) all property
owned by the Company prior to the Merger and (3) all property acquired by the
Company after the Merger not constituting substitutions, replacements,
additions, betterments, developments, extensions or enlargements to, of or upon
the trust estate allocated to the Company by the Merger Documents.

     

     

    TO HAVE
AND TO HOLD the trust estate and all and singular the lands, properties,
estates, rights, franchises, privileges and appurtenances hereby mortgaged,
hypothecated, conveyed, pledged or assigned, or intended so to be, together with
all the appurtenances thereto appertaining and the rents, issues and profits
thereof, unto the Trustee and its successors in trust and to its assigns,
forever.

     

     

    SUBJECT,
HOWEVER, to the exceptions (except as omitted above in Clause IV hereof),
reservations, restrictions, conditions, limitations, covenants and matters
recited in Article Twenty of the Indenture, and in each respective Article Three
of the Eighth and each consecutive succeeding Supplemental Indenture through the
Seventeenth Supplemental Indenture and, likewise, of the Nineteenth through the
Thirty-seventh Supplemental Indentures and, likewise, of the Thirty-ninth
through the Fifty-seventh Supplemental Indentures or contained in any deeds and
other instruments whereunder the Company has acquired any of the property now
owned by it, to permitted encumbrances as defined in Subsection B of Section
1.07 of the Indenture, and, with respect to any property which the Company may
hereafter acquire, to all terms, conditions, agreements, covenants, exceptions
and reservations expressed or provided in the deeds or other instruments,
respectively, under and by virtue of which the Company shall hereafter acquire
the same and to any liens thereon existing, and to any liens for unpaid portions
of the purchase money placed thereon, at the time of such
acquisition.

     

     

    BUT, IN
TRUST, NEVERTHELESS, for the equal and proportionate use, benefit, security and
protection of those who from time to time shall hold the Bonds and coupons, if
any, authenticated and delivered under the Indenture and duly issued by the
Company, without any discrimination, preference or priority of any one Bond or
coupon, if any, over any other by reason of priority in the time of issue, sale
or negotiation thereof or otherwise, except as provided in Section 12.28 of the
Original Indenture, as restated by the Seventh Supplemental Indenture, so that,
subject to said Section 12.28 of the Original Indenture, as restated by the
Seventh Supplemental Indenture, each and all of said Bonds and coupons, if any,
shall have the same right, lien and privilege under the Indenture and shall be
equally secured thereby and shall have the same proportionate interest and share
in the trust estate, with the same effect as if all the Bonds and coupons, if
any, had been issued, sold and negotiated simultaneously.

     

     

    AND UPON
THE TRUSTS, USES AND PURPOSES and subject to the covenants, agreements and
conditions of the Original Indenture as modified and supplemented by previous
supplemental indentures and by this Seventy-seventh Supplemental
Indenture.

     

    ARTICLE
ONE

    

    BONDS OF
THE 2024 SERIES AND

    CERTAIN
PROVISIONS RELATING THERETO

     

    Section
1.01

     

     

    A.           Terms
of Bonds of the 2024 Series.  There is hereby established a new series
of Bonds to be issued under and secured by the Indenture, to be known as and
entitled “First Mortgage Bonds, 5.59% Series due October 1, 2024”. The principal
amount of the Bonds of the 2024 Series shall not be limited except as provided
in Section 3.01 of the Indenture, and except as may otherwise be provided in an
indenture supplemental to the Indenture. The definitive Bonds of the 2024 Series
shall be registered Bonds without coupons of the denominations of $1,000 and in
multiples of $1,000 in excess thereof as shall be authorized by written order of
the Company, numbered R-1 consecutively upwards. Bonds of the 2024 Series may be
issued in the first instance (until definitive Bonds to be issued in exchange
therefor are prepared and ready for delivery) as temporary Bonds dated October
2, 2009, in denominations of $1,000 and of such multiples of $1,000 as shall
have been authorized, as aforesaid, numbered TR-1 consecutively upwards, in
substantially the form of Bond set forth in Section 1.01B of this
Seventy-seventh Supplemental Indenture, with changes therein appropriate to
their character.

     

     

    Bonds of
the 2024 Series shall be dated as provided in Section 3.05 of the Indenture.
Notwithstanding the provisions of said Section 3.05, so long as there is no
default in the payment of interest on Bonds of the 2024 Series existing at the
time of the authentication hereinafter referred to, all Bonds of the 2024 Series
authenticated by the Trustee between the record date (as hereinafter in this
Section defined) for any interest payment date for Bonds of the 2024 Series and
such interest payment date shall be dated the date of and shall bear interest
from such interest payment date; provided, however, that if and to the extent
the Company shall default in the payment of such interest due on such interest
payment date, then any such Bond of the 2024 Series shall bear interest from the
interest payment date immediately preceding the date of such Bond of the 2024
Series. The Bonds of the 2024 Series shall mature on October 1, 2024 and,
beginning on October 1, 2009, shall bear interest at the rate of 5.59% per annum
until the payment of the principal thereof, such interest to be payable
semiannually on April 1 and October 1 in each year, commencing April 1, 2010,
and on the maturity date. If any interest payment date for the Bonds of the 2024
Series falls on a day that is not a Business Day, the payment of interest will
be made on the next succeeding Business Day, and no interest on such payment
shall accrue for the period from and after such interest payment date. If the
maturity date or any redemption date of the Bonds of the 2024 Series falls on a
day that is not a Business Day, the payment of principal (and premium, if any)
and interest (to the extent payable with respect to the principal being redeemed
if on a redemption date) will be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the period from and after the
maturity date or such redemption date. Interest on the Bonds of the 2024 Series
will be calculated on the basis of a 360-day year consisting of twelve 30-day
months.

     

     

    The
person in whose name any Bond of the 2024 Series is registered at the close of
business on any record date with regard to any interest payment date shall be
entitled to receive the interest payable thereon on such interest payment date
notwithstanding the cancellation of such Bond upon any transfer or exchange
thereof subsequent to such record date and prior to such interest payment date,
unless the Company shall default in the payment of the interest due on such
interest payment date, in which case such defaulted interest shall be paid to
the person in whose name such Bond is registered on the date of payment of such
defaulted interest. So long as Bonds of the 2024 Series are held by The
Depository Trust Company (“DTC”) or its nominee in book-entry only form, the
term “record date” as used in this Section with regard to any interest payment
date shall mean the close of business on the Business Day immediately preceding
such interest payment date. Both principal of and interest on the Bonds of the
2024 Series will be paid in any coin or currency of the United States of America
which at the time of payment is legal tender for the payment of public and
private debts, at the corporate trust office in the Borough of Manhattan, City
and State of New York, of the Trustee.

     

     

    The
definitive Bonds of the 2024 Series may be issued in the form of Bonds engraved,
printed, lithographed, or partly engraved and partly printed or lithographed, on
steel engraved borders or typed.

     

     

    Upon
compliance with the provisions of Section 3.10 of the Indenture and upon
payment, at the option of the Company, of the charges provided in Section 3.11
of the Indenture, subject to the provisions of any legend set forth thereon,
Bonds of the 2024 Series may be exchanged for a new Bond or Bonds of the said
Series of different authorized denominations of like aggregate principal
amount.

     

     

    The
Trustee hereunder shall, by virtue of its office as such Trustee, be the
registrar and transfer agent of the Company for the purpose of registering and
transferring Bonds of the 2024 Series.

     

     

    B.           Form
of Bonds of the 2024 Series. The Bonds of the 2024 Series, and the Trustee’s
authentication certificate to be executed on the Bonds of the 2024 Series, shall
be in substantially the following forms, respectively:

     

     

    [FORM OF
FACE OF BOND OF THE 2024 SERIES]

     

     

    [depository
legend to be included on Bonds of the 2024 Series]

     

     

    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.

     

     

    

     

    
      	
              No.
      R-___

            	 
      	
              CUSIP
      29365P AP7

            
	
              $_____________

            	 
      	 
      

    

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

    FIRST
MORTGAGE BOND, 5.59% SERIES

    DUE
OCTOBER 1, 2024

     

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C., a Louisiana limited liability company
(hereinafter sometimes called the “Company”), for value received, hereby
promises to pay to _____________________, or registered assigns, the principal
amount set forth above on October 1, 2024, and to pay interest thereon from
October 2, 2009, if the date of this bond is prior to April 1, 2010, or, if the
date of this bond is on or after April 1, 2010, from the April 1 or
October 1 immediately preceding the date of this bond to which interest has
been paid (unless the date hereof is an interest payment date to which interest
has been paid, in which case from the date hereof) at the rate of 5.59% per
annum, on April 1 and October 1 of each year, commencing April 1,
2010, and at maturity or earlier redemption, until payment of the principal
hereof. The interest so payable on any April 1 or October 1 will be
paid to the person in whose name this bond is registered at the close of
business on the record date for such interest installment which shall be the
Business Day next preceding such interest payment date so long as the bonds are
held by DTC or its nominee in book-entry only form, unless the Company shall
default in the payment of the interest due on such interest payment date, in
which case such defaulted interest shall be paid to the person in whose name
this bond is registered on the date of payment of such defaulted interest. If
any interest payment date for this bond falls on a day that is not a Business
Day, the payment of interest will be made on the next succeeding Business Day,
and no interest on such payment shall accrue for the period from and after the
interest payment date. If the maturity date or any redemption date of this bond
falls on a day that is not a Business Day, the payment of principal and interest
(to the extent payable with respect to the principal being redeemed if on a
redemption date) will be made on the next succeeding Business Day, and no
interest on such payment shall accrue for the period from and after the maturity
date or such redemption date.

     

     

    Both
principal of and interest on this bond will be paid in any coin or currency of
the United States of America which at the time of payment is legal tender for
the payment of public and private debts, at the corporate trust office in the
Borough of Manhattan, City and State of New York, of the Trustee under the
Indenture.

     

     

    This bond
shall not become or be valid or obligatory for any purpose until the
authentication certificate hereon shall have been signed by the
Trustee.

     

     

    The
provisions of this bond are continued on the reverse hereof and such continued
provisions shall for all purposes have the same effect as though fully set forth
at this place.

     

     

    IN
WITNESS WHEREOF, Entergy Gulf States Louisiana, L.L.C. has caused these presents
to be executed in its company name, by facsimile signature or manually, by its
President or one of its Vice Presidents and by its Treasurer or an Assistant
Treasurer under its company seal or a facsimile thereof, all as of _________,
20__.

     

    

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

    

    By:
_____________________________________

           Name:

           Title:

     

     

     

    And By:
__________________________

      Name:

      Title:

     

    [SEAL]

     

     

    [FORM OF
REVERSE OF BOND OF THE 2024 SERIES]

     

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

    FIRST
MORTGAGE BOND, 5.59% SERIES

    DUE
OCTOBER 1, 2024 (Continued)

     

     

    This bond
is one of the bonds, of the above designated series, of an authorized issue of
bonds of the Company, known as First Mortgage Bonds, issued or issuable in one
or more series under and equally secured (except insofar as any sinking and/or
improvement fund or other fund established in accordance with the provisions of
the Indenture hereinafter mentioned may afford additional security for the bonds
of any specific series) by an Indenture of Mortgage dated September 1, 1926, as
supplemented and modified by indentures supplemental thereto, to and including a
Seventy-seventh Supplemental Indenture dated as of September 1, 2009 to The Bank
of New York Mellon, as Trustee, to which Indenture of Mortgage, as so
supplemented and modified, and all indentures supplemental thereto (herein
sometimes called the Indenture) reference is hereby made for a description of
the property mortgaged and pledged as security for said bonds, the nature and
extent of the security, and the rights, duties and immunities thereunder of the
Trustee, the rights of the holders of said bonds and of the Trustee and of the
Company in respect of such security, and the terms upon which said bonds may be
issued thereunder.

     

     

    This bond
is redeemable as provided in the Indenture, including the right of the Company
to give notice of redemption conditioned upon its deposit of funds provided for
in the Seventy-seventh Supplemental Indenture with respect to this
series.

     

     

    The
Indenture contains provisions permitting the Company and the Trustee, with the
consent of the holders of not less than seventy-five percent in principal amount
of the bonds (exclusive of the bonds disqualified by reason of the Company’s
interest therein) at the time outstanding, including, if more than one series of
bonds shall be at the time outstanding, not less than sixty percent in principal
amount of each series affected, to effect, by an indenture supplemental to the
Indenture, modifications or alterations of the Indenture and of the rights and
obligations of the Company and of the holders of the bonds; provided, however,
that no such modification or alteration shall be made without the written
approval or consent of the registered owner hereof which will (a) extend the
maturity of this bond or reduce the rate or extend the time of payment of
interest hereon or reduce the amount of the principal hereof, or (b) permit the
creation of any lien, not otherwise permitted, prior to or on a parity with the
lien of the Indenture, or (c) reduce the percentage of the principal amount of
the bonds upon the approval or consent of the holders of which modifications or
alterations may be made as aforesaid.

     

     

    This bond
is transferable by the registered owner hereof in person or by his or her duly
authorized attorney at the corporate trust office in the Borough of Manhattan,
City and State of New York, of the Trustee upon surrender of this bond for
cancellation and upon payment, if the Company shall so require, of the charges
provided for in the Indenture, and thereupon a new registered bond of the same
series of like principal amount will be issued to the transferee in exchange
therefor.

     

     

    The
registered owner of this bond, at the option of said owner, may surrender the
same for cancellation at said office and receive in exchange therefor the same
aggregate principal amount of bonds of the same series but of other authorized
denominations, upon payment, if the Company shall so require, of the charges
provided for in the Indenture and subject to the terms and conditions therein
set forth.

     

     

    If a
default as defined in the Indenture shall occur, the principal of this bond may
become or be declared due and payable before maturity in the manner and with the
effect provided in the Indenture. The holders, however, of certain specified
percentages of the bonds at the time outstanding, including in certain cases
specified percentages of bonds of particular series, may in those cases, to the
extent and under the conditions provided in the Indenture, waive certain
defaults thereunder and the consequences of such defaults.

     

     

    No
recourse shall be had for the payment of the principal of or the interest on
this bond, or for any claim based hereon, or otherwise in respect hereof or of
the Indenture, against any incorporator, shareholder, director or officer, past,
present or future, as such, of the Company or of any predecessor or successor
company, either directly or through the Company or such predecessor or successor
company, under any constitution or statute or rule of law, or by the enforcement
of any assessment or penalty, or otherwise, all such liability of incorporators,
shareholders, directors and officers, as such, being waived and released by the
holder and owner hereof by the acceptance of this bond and as provided in the
Indenture.

     

     

    [FORM OF
TRUSTEE’S AUTHENTICATION CERTIFICATE FOR BONDS]

     

     

    

     

     

    TRUSTEE’S
AUTHENTICATION CERTIFICATE

     

     

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

     

    THE BANK
OF NEW YORK MELLON,

    As
Trustee

     

    By:
______________________________

          Authorized
Officer

    
 

    
 

     

    Section
1.02.  Redemption Provisions for Bonds of the 2024
Series.  The Bonds of the 2024 Series shall be redeemable at the
option of the Company, in whole or in part, upon notice (which redemption may be
made subject to the deposit of the redemption moneys with the Trustee prior to
the date designated for redemption) mailed to each registered owner at its last
address appearing on the bond register not less than 30 days’ nor more than 60
days’ prior to the date fixed for redemption, at any time prior to maturity, at
a redemption price equal to the greater of (a) 100% of the principal amount of
such Bonds of the 2024 Series to be redeemed and (b) as determined by the
Independent Investment Banker, the sum of (i) the present values of the
remaining scheduled payments of principal of and interest on such Bonds of the
2024 Series to be redeemed (excluding the portion of any such interest accrued
to the redemption date), discounted (for purposes of determining such present
values) to the redemption date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Adjusted Treasury Rate plus 0.40%
plus accrued interest thereon to the redemption date.

     

     

    “Adjusted
Treasury Rate” means, with respect to any redemption date:

     

     

    (1) the
yield, under the heading which represents the average for the immediately
preceding week, appearing in the most recently published statistical release
designated “H.15(519)” or any successor publication which is published weekly by
the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity
corresponding to the Comparable Treasury Issue (if no maturity is within three
months before or after the remaining term of the Bonds of the 2024 Series,
yields for the two published maturities most closely corresponding to the
Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate
shall be interpolated or extrapolated from such yields on a straight line basis,
rounding to the nearest month); or

     

     

    (2) if
such release (or any successor release) is not published during the week
preceding the calculation date for the Adjusted Treasury Rate or does not
contain such yields, the rate per annum equal to the semi­annual equivalent
yield to maturity of the Comparable Treasury Issue, calculated using a price for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such redemption
date.

     

     

    The
Adjusted Treasury Rate shall be calculated on the third Business Day preceding
the redemption date.

     

     

    “Business
Day” means any day other than a Saturday or a Sunday or a day on which banking
institutions in The City of New York are authorized or required by law or
executive order to remain closed or a day on which the corporate trust office of
the Trustee is closed for business.

     

     

    “Comparable
Treasury Issue” means the United States Treasury security selected by the
Independent Investment Banker as having a maturity comparable to the remaining
term of the Bonds of the 2024 Series that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new
issues of corporate debt securities of comparable maturity to the remaining term
of the Bonds of the 2024 Series.

     

     

    “Comparable
Treasury Price” means, with respect to any redemption date, (1) the average of
five Reference Treasury Dealer Quotations for such redemption date after
excluding the highest and lowest such Reference Treasury Dealer Quotations or
(2) if the Independent Investment Banker obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such Reference Treasury Dealer
Quotations.

     

     

    “Independent
Investment Banker” means one of the Reference Treasury Dealers that we appoint
to act as the Independent Investment Banker from time to time or, if any of such
firms is unwilling or unable to select the Comparable Treasury Issue, an
independent investment banking institution of national standing appointed by the
Company.

     

     

    “Reference
Treasury Dealer” means (1) Barclays Capital Inc. and Mizuho Securities USA Inc.
and their respective successors; provided, however, that if any of the foregoing
shall cease to be a primary U.S. Government securities dealer in New York City
(a “Primary Treasury Dealer”), the Company will substitute therefor another
Primary Treasury Dealer, and (2) any other Primary Treasury Dealer selected by
the Independent Investment Banker after consultation with the
Company.

     

     

    “Reference
Treasury Dealer Quotations” means, with respect to each 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 at 5:00 p.m. on the third Business
Day preceding such redemption date.

     

     

    Section
1.03.  Duration of Effectiveness of Article One.  Sections
1.01 and 1.02 of this article shall be of force and effect only so long as any
Bonds of the 2024 Series are outstanding.

     

     

    ARTICLE
TWO

     

     

    Section
2.01.  This Seventy-seventh Supplemental Indenture is executed and
shall be construed as an indenture supplemental to the Original Indenture as
supplemented and modified. As heretofore supplemented and modified, and as
supplemented hereby, the Original Indenture is in all respects ratified and
confirmed, and the Original Indenture, as heretofore supplemented and modified,
and this Seventy-seventh Supplemental Indenture shall be read, taken and
construed as one and the same instrument.

     

     

    Section
2.02.  The recitals in this Seventy-seventh Supplemental Indenture are
made by the Company only and not by the Trustee; and all of the provisions
contained in the Original Indenture as supplemented and modified, in respect to
the rights, privileges, immunities, powers and duties of the Trustee shall be
applicable in respect hereof as fully and with like effect as if set forth
herein in full.

     

     

    Section
2.03.  Although this Seventy-seventh Supplemental Indenture is dated
for convenience and for the purpose of reference as of September 1, 2009, the
actual date or dates of execution by the Company and by the Trustee are as
indicated by their respective acknowledgements hereto annexed.

     

     

    Section
2.04.  In order to facilitate the recording or filing of this
Seventy-seventh Supplemental Indenture, the same may be simultaneously executed
in several counterparts and each shall be deemed to be an original and such
counterparts shall together constitute one and the same instrument.

     

     

    Section
2.05.  The words “herein”, “hereof”, “hereunder” and other words of
similar import refer to this Seventy-seventh Supplemental Indenture. All other
terms used in this Seventy-seventh Supplemental Indenture shall be taken to have
the same meaning as in the Original Indenture and indentures supplemental
thereto, except in cases where the context clearly indicates
otherwise.

     

    IN
TESTIMONY WHEREOF, ENTERGY GULF STATES LOUISIANA, L.L.C. has caused these
presents to be executed in its name and behalf by its President or a Vice
President and its company seal to be hereunto affixed or a facsimile thereof
printed hereon and attested by its Secretary or an Assistant Secretary, and THE
BANK OF NEW YORK MELLON, in token of its acceptance hereof, has likewise caused
these presents to be executed in its name and behalf by its President or a Vice
President and its corporate seal to be hereunto affixed and attested by a Vice
President, an Assistant Vice President or a Trust Officer, each in the presence
of the respective undersigned Notaries Public, and of the respective undersigned
competent witnesses, as of the day and year first above written.

     

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

     

    By: /s/ Steven C.
McNeal                                                              

          Name:  Steven
C. McNeal

          Title:    Vice
President and Treasurer     

     

    (COMPANY
SEAL)

     

     

    Attest:

     

    /s/ Dawn A.
Abuso                                                      

    Name: Dawn
A. Abuso

    Title:   Assistant
Secretary

    /s/ Jennifer B.
Favalora                                                                      

    Jennifer
B. Favalora, Notary Public No. 57639

    Parish of
Orleans, State of Louisiana

    My
Commission is for Life

    

    Signed in
the presence of: 

    

    

    /s/ Christina M.
Edwards                                                              

    Name:
Christina M. Edwards

     

    

    /s/ Sylvia S.
Higgins                                                              

    Name:
Sylvia S. Higgins

    THE BANK
OF NEW YORK MELLON

    

    By: /s/ Francine J.
Kincaid                                                                      

          Name:  Francine
J. Kincaid

          Title:  Vice
President

     

    Attest:

     

    /s/ Laurence J.
O’Brien                                                           

    Name:
Laurence J. O’Brien

    Title: Vice
President

    

    Before
me

    

    /s/ Carlos R.
Luciano                                                                      

    CARLOS R. LUCIANO

    Notary Public, State of New
York

    No. 41-4765897

    Qualified in Queens
County

    Commission Expires April 30,
2010

     

     

     

     

     

     

    Signed,
sealed and delivered in the presence of:

     

    

    /s/ Franca M.
Ferrera                                                        

    Name: Franca
M. Ferrera

    

     

    /s/ Patricia
Lin                                                        

    Name:
Patricia Lin

    

     

    ENTERGY
GULF STATES LOUISIANA, L.L.C.

     

     

    United
States of America,

    State of
Louisiana,                                           ss:

    Parish of
Orleans

     

     

    I, the
undersigned, a Notary Public duly qualified, commissioned, sworn and acting in
and for the Parish and State aforesaid, hereby certify that, on this 30th day of
September, 2009:

     

     

    Before me
personally appeared STEVEN C. McNEAL, Vice President and Treasurer, and DAWN A.
ABUSO, Assistant Secretary, of Entergy Gulf States Louisiana, L.L.C., both of
whom are known to me to be the persons whose names are subscribed to the
foregoing instrument and both of whom are known to me to be Vice President and
Treasurer, and Assistant Secretary, respectively, of said ENTERGY GULF STATES
LOUISIANA, L.L.C., and separately acknowledged to me that they executed the same
in the capacities therein stated for the purposes and considerations therein
expressed and as the act and deed of ENTERGY GULF STATES LOUISIANA,
L.L.C.

     

     

    Before me
personally came STEVEN C. McNEAL, to me known, who being by me duly sworn, did
depose and say, that he resides in Mandeville, Louisiana; that he is Vice
President and Treasurer of ENTERGY GULF STATES LOUISIANA, L.L.C., one of the
companies described in and which executed the above instrument; that he knows
the seal of said company; that the seal affixed to or printed on said instrument
is such company seal; that it was so affixed by order of the Board of Directors
of said company, and that he signed his name thereto by like order.

     

     

    BE IT
REMEMBERED, that before me, and in the presence of Christina M. Edwards and
Sylvia S. Higgins, competent witnesses, residing in said State, personally came
and appeared STEVEN C. McNEAL and DAWN A. ABUSO, Vice President and Treasurer,
and Assistant Secretary, respectively, of ENTERGY GULF STATES LOUISIANA, L.L.C.,
a limited liability company created by and existing under the laws of the State
of Louisiana, with its Louisiana domicile in the City of Baton Rouge, Louisiana,
and said STEVEN C. McNEAL and DAWN A. ABUSO declared and acknowledged to me,
Notary, in the presence of the witnesses aforesaid, that they signed, executed
and sealed the foregoing supplemental indenture for and on behalf of and in the
name of ENTERGY GULF STATES LOUISIANA, L.L.C., and have affixed the company seal
of said company to the same or caused it to be printed thereon, by and with the
authority of the Board of Directors of said Company.

     

     

    GIVEN
UNDER MY HAND AND SEAL OF OFFICE this 30th day of September, 2009.

     

     

    (Notarial
Seal)

     

    /s/ Jennifer B.
Favalora                                                                           

    Jennifer
B. Favalora, Notary Public No. 57639

    Parish of
Orleans, State of Louisiana

    My
Commission is for Life

    
 

     

    
 

    TRUSTEE

     

    United
States of America,

    State of
New
York,                                           ss:

    County of
New York,

     

     

    I, the
undersigned, a Notary Public duly qualified, commissioned, sworn and acting in
and for the County and State aforesaid, hereby certify that, on this 1st
day of October,
2009:

     

     

    Before me
personally appeared FRANCINE J. KINCAID, a Vice President of THE BANK OF NEW
YORK MELLON, and LAURENCE J. O’BRIEN, a Vice President, both of whom are known
to me to be the persons whose names are subscribed to the foregoing instrument
and both of whom are known to me to be a Vice President of THE BANK OF NEW YORK
MELLON, and separately acknowledged to me that they executed the same in the
capacities therein stated for the purposes and consideration therein expressed,
and as the act and deed of THE BANK OF NEW YORK MELLON.

     

     

    Before me
personally came FRANCINE J. KINCAID, to me known, who being by me duly sworn,
did depose and say, she resides in Deer Park, New York; that she is a Vice
President of THE BANK OF NEW YORK MELLON, one of the entities described in and
which executed the above instrument; that she knows the seal of said entity;
that the seal affixed to said instrument is such corporate seal; that it was so
affixed by order of the Board of Directors of said entity, and that she signed
her name thereto by like order.

     

     

    BE IT
REMEMBERED, that before me, and in the presence of FRANCA FERRERA and Patricia
Lin, competent witnesses, residing in said state, personally came and appeared
FRANCINE J. KINCAID and LAURENCE J. O’BRIEN, each of whom being a Vice President
of THE BANK OF NEW YORK MELLON, a New York banking corporation with a corporate
trust office in the City of New York, New York, and said FRANCINE J. KINCAID and
LAURENCE J. O’BRIEN, declared and acknowledged to me, Notary, in the presence of
the witnesses aforesaid that they signed, executed and sealed the foregoing
supplemental indenture for and on behalf of and in the name of THE BANK OF NEW
YORK MELLON, and have affixed the corporate seal of THE BANK OF NEW YORK MELLON
to the same by and with the authority of the Board of Directors of THE BANK OF
NEW YORK MELLON.

     

     

    GIVEN
UNDER MY HAND AND SEAL OF OFFICE this 1st
day of October,
2009.

     

    (Notarial Seal)

    /s/ Carlos R.
Luciano                                                        

    CARLOS R. LUCIANO

    Notary
Public, State of New York

    No. 41-4765897

    Qualified in Queens
County

    Commission
Expires April 30, 2010

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