Exhibit 10(a)

Maker
DELTA NATURAL GAS COMPANY, INC.
 
 
 
 
BB&T
9580219605
Address
3617 LEXINGTON ROAD
Customer Number
 
WINCHESTER, KY 40391
 
 
 
3
 
NOTE MODIFICATION AGREEMENT
Note Number

$40,000,000.00
 
10/31/2002
 
$40,000,000.00
 
6/30/2015
Original Amount of Note
 
Original Date
 
Modification Amount
 
Modification Date

This Note Modification Agreement (hereinafter “Agreement”) is made and entered
into this 30th day of June, 2015, by and between DELTA NATURAL GAS
COMPANY,  INC., maker(s), co-maker(s), endorser(s), or other obligor(s) on the
Promissory Note (as defined below), hereinafter also referred to jointly and
severally as Borrower(s); Branch Banking and Trust Company of North Carolina, a
banking corporation, hereinafter referred to as Bank and
______________________________________
_______________________________________________________________________ owners
other than Borrower(s) (if any) of any property pledged to secure performance of
Borrower(s)’s obligations to Bank, hereinafter referred to jointly and severally
as Debtor(s)/Grantor(s).

Witnesseth: Whereas, Borrower(s) has previously executed a Promissory Note
payable to Bank, which Promissory Note includes the original Promissory Note and
all renewals, extensions and modifications thereof, collectively “Promissory
Note”, said Promissory Note being more particularly identified by description of
the original note above; and Borrower(s) and Bank agree that said Promissory
Note be modified only to the limited extent as is hereinafter set forth; that
all other terms, conditions, and covenants of said Promissory Note remain in
full force and effect, and that all other obligations and covenants of
Borrower(s), except as herein modified, shall remain in full force and effect,
and binding between Borrower(s) and Bank; and Whereas Debtor(s)/Grantor(s), if
different from Borrower(s), has agreed to the terms of this modification; NOW
THEREFORE, in mutual consideration of the premises, the sum of Ten Dollars ($10)
and other good and valuable consideration, each to the other parties paid, the
parties hereto agree that said Promissory Note is amended as hereinafter
described:

o  Borrower shall pay a prepayment fee as set forth in the Prepayment Fee
Addendum attached hereto.

INTEREST RATE, PRINCIPAL AND INTEREST PAYMENT TERM MODIFICATIONS (To the extent
no change is made, existing terms continue.  Sections not completed are
deleted.)

Interest shall accrue from the date hereof on the unpaid principal balance
outstanding from time to time at the:

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Exhibit 10(a)

o
Fixed Rate of ________% per annum.
 
 
o
Variable rate of the Bank’s Prime Rate plus ____% per annum to be adjusted
__________________as the Bank’s Prime Rate Changes.
 
 
o
As of the Modification Date, any fixed, floating, or average maximum rate and
fixed minimum rate in effect by virtue of the Promissory Note are hereby
deleted.  The interest rate will in no instance exceed the maximum rate
permitted by applicable law and if checked here o, the interest rate will not
decrease below a fixed minimum rate of ______%. If checked here  o the interest
rate will not exceed o a fixed maximum rate of _____%,  o an average maximum
rate of _________%, or o a floating maximum rate of the greater of ______% or
the Bank’s Prime Rate.  If an average maximum rate is specified, a determination
of any required reimbursement of interest by Bank will be made:  o when the
Promissory Note is repaid in full by Borrower o annually beginning on
__________________.
 
 
ý
THE ADJUSTED LIBOR RATE, AS DEFINED IN THE ATTACHED ADDENDUM TO PROMISSORY NOTE.
 
 
 
Principal and interest are payable as follows:
 
 
 
ý
Principal (plus any accrued interest not otherwise scheduled herein  }  is due
in full at maturity on JUNE 30, 2017.
o
Principal plus accrued interest
o
Payable in consecutive _____ installments of o Principal                    
                                                                         o 
Principal and interest   } commencing on ________
 
and continuing on the same day of each calendar period thereafter, in ____ equal
payments of $______, with one final payment of all remaining principal and
accrued interest due on _____________.
 
 
o
ChoiceLine Payment Option:  2% of outstanding balance is payable monthly
commencing on ____________ and continuing on the same day of each month
thereafter, with one final payment of all remaining principal and accrued
interest due on _______________________
 
 
ý
Accrued interest is payable monthly  commencing on  July 31, 2015 and continuing
on the same day of each calendar period thereafter, with one final payment of
all remaining interest due on June 30, 2017.
 
 
o
Bank reserves the right in its sole discretion to adjust the fixed payment due
hereunder _______ on ________ and continuing on the same day of each calendar
period thereafter, in order to maintain an amortization period of no more than
______ months from the date of the initial principal payment due
hereunder.  Borrower understands the payment may increase if interest rates
increase.
 
 
o
At the Borrower’s request, the Bank has agreed to readvance the principal amount
of $____________.  The outstanding principal balance under the Promissory Note
prior to the readvance is $________________, making the total outstanding
principal balance now due hereunder to be $_____________ (“Modification
Amount”).
 
 
o
____________________________________________________________________________________________
 
 
o
___________________________________________________________________________________________
 
 
o
Borrower hereby authorizes Bank to automatically draft from its demand deposit
or savings account(s) with Bank or other bank, any payment(s) due on the date(s)
due.  Borrower shall provide appropriate account number(s) for account(s) at
Bank or other bank.
 
 
 
The following scheduled payment(s) is (are) deferred:
 
 
o
$___________ principal
 
                                                                   }        payment(s)
due on _________________________
o
$___________ interest
 
 
 
is (are) hereby deferred.  Payments will resume on ___________________________
according to the schedule contained herein or to the existing schedule (if no
other changes are made herein).
 
 
 
 
 
 

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Exhibit 10(a)

The Borrower(s) promises to pay Bank, or order, a late fee in the amount of five
percent (5%) of any installment past due for ten (10) or more days.  Where any
installment payment is past due for ten (10) or more days, subsequent payments
shall first be applied to the past due balance.  In addition, the undersigned
shall pay to Bank a returned payment fee if the undersigned or any other obligor
hereon makes any payment at any time by check or other instrument, or by any
electronic means, which is returned to Bank because of nonpayment due to
nonsufficient funds.

COLLATERAL:  o The Promissory Note, as modified, and the performance of the
terms of any agreement or instrument relating to, evidencing, or securing the
Promissory Note, as modified, shall be additionally secured by collateral
hereinafter described, a new security instrument shall be executed by
Borrower(s), and/or Debtor(s)/Grantor(s), and all other steps necessary to
perfect or record the Bank’s lien with priority acceptable to Bank shall be
taken.  In addition to Bank’s right of off-set and to any liens and security
interests granted to Bank in the Agreements, the undersigned hereby grants to
Bank a security interest in all of its depository accounts with and investment
property held by Bank, which shall serve as collateral for the indebtedness and
obligations evidenced by the Promissory Note, as modified.

Deed(s) of Trust / Mortgage(s) granted in favor of Bank as beneficiary /
mortgagee:

o
dated _______________________________ in the maximum principal amount of
$_____________________________
granted by _________________________________________
 
 
o
dated _______________________________ in the maximum principal amount of
$_____________________________
granted by _________________________________________
 
 

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Exhibit 10(a)

Security Agreement(s) granting a security interest to Bank:
o
dated __________________ given by
______________________________________________________________
 ___________________________________________________________________________________________
 
 
o
dated __________________ given by
______________________________________________________________
___________________________________________________________________________________________
 
 
o
Securities Account Pledge and Security Agreement dated _________________,
executed by ________________________________________________________
 
 
o
Control Agreement(s) dated ___________________, covering * Deposit
Account(s)           * Investment Property
                                                                                                    
* Letter of Credit Rights     *    Electronic Chattel Paper
 
 
o
Assignment of Certificate of Deposit, Security Agreement, and Power of Attorney
(for Certificated Certificates of Deposit) dated
____________________________________, executed by
_____________________________________
 
 
o
Pledge and Security Agreement for Publicly Traded Certificated Securities dated
_________________________, executed by
______________________________________________
 
 
o
Assignment of Life Insurance Policy dated ______________________________ for
policy #____________________,
executed by _____________________________________________________________
 
 
o
Loan Agreement dated _______________________, executed by Borrower and
* Guarantor(s)
 
 
o
_____________________________________________________________________________________________
 
 
o
_____________________________________________________________________________________________
 
 
o
The collateral hereinafter described shall be and hereby is deleted as security
interest for payment of the Promissory Note:
 
 
 
______________________________________________________________________________________________
 
______________________________________________________________________________________________
 
 
 
OTHER:   ______________________________________________________________________________________

If the Promissory Note being modified by this Agreement is signed by more than
one person or entity, the modified Promissory Note shall be the joint and
several obligation of all signers and the property and liability of each and all
of them.  It is expressly understood and agreed that this Agreement is a
modification only and not a novation.  The original obligation of the
Borrower(s) evidenced by the Promissory Note is not extinguished hereby.  It is
agreed that except for the modification(s) contained herein, the Promissory
Note, and any other Loan Documents or Agreements evidencing, securing or
relating to the Promissory Note and all singular terms and conditions thereof,
shall be and remain in full force and effect.  This Agreement shall not release
or affect the liability of any co-makers, obligors, endorsers or guarantors of
said Promissory Note.  Borrower and Debtor(s)/Grantor(s), if any, jointly and
severally consent to the terms of this Agreement, waive any objection thereto,
affirm any and all obligations to Bank and certify that there are no defenses or
offsets against said obligations or the Bank, including without limitation the
Promissory Note.  Bank expressly reserves all rights as to any party with right
of recourse on the Promissory Note.

In the event periodic accruals of interest shall exceed any periodic fixed
payment amount described above, the fixed payment amount shall be immediately
increased or supplemental interest payments required on the same periodic basis
as specified above (increased fixed payments or supplemental payments to be
determined in the Bank’s sole discretion), in such amounts and at such times as
shall be necessary to pay all accruals of interest for the period and all
accruals of unpaid interest from previous periods.  Such adjustments to the
fixed payment amount or supplemental payments shall remain in effect for so long
as any interest accruals shall

--------------------------------------------------------------------------------

Exhibit 10(a)

exceed the original fixed payment amount and shall be further adjusted upward or
downward to reflect changes in any variable interest rate based on an index such
as the Bank’s Prime Rate; provided that unless elected otherwise above, the
fixed payment amount shall not be reduced below the original fixed payment
amount.  However, Bank shall have the right, in its sole discretion, to lower
the fixed payment amount below the original payment amount.  Notwithstanding any
other provision contained in this agreement, in no event shall the provisions of
this paragraph be applicable to any Promissory Note which requires disclosures
pursuant to the Consumer Protection Act (Truth-in-Lending Act) 15 USC § 1601, et
seq., as implemented by Regulation Z.

Borrower agrees that the only interest charge is the interest actually stated in
the Promissory Note, as modified hereby, and that any loan or origination fee
shall be deemed charges rather than interest, which charges are fully earned and
non-refundable.  It is further agreed that any late charges are not a charge for
the use of money but are imposed to compensate Bank for some of the
administrative services, costs and losses associated with any delinquency or
default under the Promissory Note, and said charges shall be fully earned and
non-refundable when accrued.  All other charges imposed by Bank upon Borrower in
connection with the Promissory Note and the loan including, without limitation,
any commitment fees, loan fees, facility fees, origination fees, discount
points, default and late charges, prepayment fees, statutory attorneys' fees and
reimbursements for costs and expenses paid by Bank to third parties or for
damages incurred by Bank are and shall be deemed to be charges made to
compensate Bank for underwriting and administrative services and costs, other
services, and costs or losses incurred and to be incurred by Bank in connection
with the Promissory Note and the loan and shall under no circumstances be deemed
to be charges for the use of money.  All such charges shall be fully earned and
non-refundable when due.

The Bank may, at its option, charge any fees for the modification, renewal,
extension, or amendment of any of the terms of the Promissory Note as permitted
by applicable law.

In the words "Prime Rate", "Bank Prime Rate", "BB&T Prime Rate", "Bank's Prime
Rate" or "BB&T's Prime Rate" are used in this Agreement, they shall refer to the
rate announced by the Bank from time to time as its Prime Rate.  The Bank makes
loans both above and below the Prime Rate and uses indexes other than the Prime
Rate.  Prime Rate is the name given a rate index used by the Bank and does not
in itself constitute a representation of any preferred rate or treatment.

Unless otherwise provided herein, it is expressly understood and agreed by and
between Borrower(s), Debtor(s)/Grantor(s) and Bank that any and all collateral
(including but not limited to real property, personal property, fixtures,
inventory, accounts, instruments, general intangibles, documents, chattel paper,
and equipment) given as security to insure faithful performance by Borrower(s)
and any other third party of any and all obligations to Bank, however created,
whether now existing or hereafter arising, shall remain as security for the
Promissory Note as modified hereby.

It is understood and agreed that if Bank has released collateral herein, it
shall not be required or obligated to take any further steps to release said
collateral from any lien or security interest unless Bank determines, in its
sole discretion, that it may do so without consequence to its secured position
and relative priority in other collateral; and unless Borrower(s) bears the
reasonable cost of such action. No delay or omission on the part of the Bank in
exercising any right hereunder shall operate as a waiver of such right or of any
other right of the Bank, nor shall any delay, omission or waiver on any one
occasion be deemed a bar to or waiver of the same, or of any other right on any
further occasion. Each of the parties signing this Agreement regardless of the
time, order or place of signing waives presentment, demand, protest, and notices
of every kind, and assents to any one or more extensions or postponements of the
time of payment or any other indulgences, to any substitutions, exchanges or
releases of collateral if at any time there is available to the Bank collateral
for the Promissory Note, as amended, and to the additions or releases of any
other parties or persons primarily or secondarily liable. Whenever possible the
provisions of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement
is prohibited by or invalid under such law, such provisions shall be ineffective
to the extent of any such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement. All
rights and obligations arising hereunder shall be governed by and construed in
accordance with the laws of the same state which governs the interpretation and
enforcement of the Promissory Note.

From and after any event of default under the Promissory Note, as modified
hereby, or any related deed of trust, security agreement or loan agreement,
interest shall accrue on the sum of the principal balance and accrued interest
then outstanding at the variable rate equal to the Bank's Prime Rate plus 5% per
annum ("Default Rate"), provided that such rate shall not exceed at any time the
highest rate of interest permitted by the laws of the State of Kentucky; and
further that such rate shall apply after judgement. In the event of any default,
the then remaining unpaid principal amount and accrued but unpaid interest then
outstanding shall bear interest at the Default Rate until such principal and
interest have been paid in full.  Bank shall not be obligated to accept any
check, money order, or other payment instrument marked "payment in full" on any
disputed amount due hereunder, and Bank expressly reserves the right to reject
all such payment instruments. Borrower agrees that tender of its check or other
payment instrument so marked will not satisfy or discharge its obligation under
the Promissory Note, disputed or otherwise, even if such check or payment
instrument is inadvertently processed by Bank unless in fact such payment is in
fact sufficient to pay the amount due hereunder.

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Exhibit 10(a)

WAIVER OF TRIAL BY JURY.  UNLESS EXPRESSLY PROHIBITED BY APPLICABLE LAW, THE
UNDERSIGNED HEREBY WAIVE THE RIGHT TO TRIAL BY JURY OF ANY MATTERS OR CLAIMS
ARISING OUT OF THIS AGREEMENT, THE PROMISSORY NOTE OR ANY LOAN DOCUMENT EXECUTED
IN CONNECTION HEREWITH OR OUT OF THE CONDUCT OF THE RELATIONSHIP BETWEEN THE
UNDERSIGNED AND BANK.  THIS PROVISION IS A MATERIAL INDUCEMENT FOR BANK TO MAKE
THE LOAN EVIDENCED BY THE PROMISSORY NOTE AND THIS AGREEMENT.  FURTHER, THE
UNDERSIGNED HEREBY CERTIFY THAT NO REPRESENTATIVE OR AGENT OF BANK, NOR BANK’S
COUNSEL, HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT BANK WOULD NOT SEEK TO
ENFORCE THIS WAIVER OR RIGHT TO JURY TRIAL PROVISION IN THE EVENT OF
LITIGATION.  NO REPRESENTATIVE OR AGENT OF BANK, NOR BANK’S COUNSEL, HAS THE
AUTHORITY TO WAIVE, CONDITION OR MODIFY THIS PROVISION.

Unless otherwise required under a Loan Agreement, if applicable, and as long as
any indebtedness evidenced by the Promissory Note, as modified by this Agreement
remains outstanding or as long as Bank remains obligated to make advances, the
undersigned shall furnish annually an updated financial statement in a form
satisfactory to Bank, which, when delivered shall be the property of the
Bank.  Further, the undersigned agree to provide any and all documentation
requested by the Bank in order to verify the identity of the undersigned in
accordance with the USA Patriot Act.

(SIGNATURES ON FOLLOWING PAGE)

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Exhibit 10(a)

BB&T

NOTE MODIFICATION SIGNATURE PAGE

Borrower:  DELTA NATURAL GAS COMPANY, INC.
 
 
 
Account Number:    9580219605
Note Number:    00003
 
 
Modification Amount:    $40,000,000.00
Modification Date:     June 30, 2015

IN WITNESS WHEREOF, the undersigned, on the day and year first written above,
has caused this instrument to be executed

If Borrower is a Corporation:
WITNESS:
DELTA NATURAL GAS COMPANY, INC.
 
(Name of Corporation)
 
 
      /s/Ryan T. Hamilton_________________________
By:   /s/John B. Brown ______________________
 
 
 
Title:  Chief Financial Officer, Treasurer & Secretary
 
 
___/s/Ryan T. Hamilton_________________________
By:   /s/Glenn R. Jennings____________________
 
 
 
Title:  President & Chief Executive Officer
 
 

If Borrower is a Partnership, Limited Liability Company, Limited Liability
Partnership,
Or Limited Liability Limited Partnership:
WITNESS:
____________________________________________
 
NAME OF PARTNERSHIP, LLC, LLP OR LLLP
 
 
____________________________________________
By:  ________________________________________
 
 
 
Title: _________________________________________
 
 
____________________________________________
By:  _________________________________________
 
 
 
Title: ________________________________________
 
 
___________________________________________
By:  _________________________________________
 
 
 
Title:  _______________________________________

If Borrower is an Individual:
WITNESS:
 
 
 
____________________________________________
___________________________________________

Additional Borrowers and Debtors/Grantors/Guarantors:

WITNESS:
 
 
 
___________________________________________
____________________________________________
___________________________________________
____________________________________________
___________________________________________
____________________________________________
___________________________________________
____________________________________________
___________________________________________
____________________________________________
___________________________________________
____________________________________________
___________________________________________
____________________________________________

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Exhibit 10(a)

BB&T
ADDENDUM TO PROMISSORY NOTE

THIS ADDENDUM TO PROMISSORY NOTE (“Addendum”) is hereby made a part of the
Promissory Note dated 10/31/2002 from DELTA NATURAL GAS COMPANY, INC.
(“Borrower”) payable to the order of Branch Banking and Trust Company (“Bank”)
in the principal amount of $40,000,000.00 (including all renewals, extensions,
modifications and substitutions therefore, the “Note”).  

I.  
DEFINITIONS.

1.1  Adjusted LIBOR Rate means a rate of interest per annum equal to the sum
obtained (rounded upwards, if necessary, to the next higher 1/100th of 1.0%) by
adding (i) the One Month LIBOR plus (ii) 1.075% per annum, which shall be
adjusted monthly on the first day of each LIBOR Interest Period.  The Adjusted
LIBOR Rate shall be adjusted for any change in the LIBOR Reserve Percentage so
that Bank shall receive the same yield.  The interest rate will in no instance
exceed the maximum rate permitted by applicable law and if checked here ý the
interest rate will not decrease below a fixed minimum rate of 0.0%.  If checked
here ý the interest rate will not exceed ý a fixed maximum rate of 30.00%
or o an average maximum rate of _____%.  If an average maximum rate is
specified, a determination of any required reimbursement of interest by Bank
will be made:  o when Note is repaid in full by Borrower o annually beginning on
__________________.  If the loan has been repaid prior to this date, no
reimbursement will be made.

1.2  Business Day means a day other than a Saturday, Sunday, legal holiday or
any other day when the Bank is authorized or required by applicable law to be
closed.

1.3  LIBOR Advance means the advances made by Bank to Borrower evidenced by this
Note upon which the Adjusted LIBOR Rate of Interest shall apply.

1.4  LIBOR Interest Period means the period, as may be elected by the Borrower
applicable to any LIBOR Advance, commencing on the date the Note is first made
(or the date of any subsequent LIBOR addendum to the Note) and ending on the day
that is immediately prior to the numerically corresponding day of each month
thereafter; provided that:

(a)  any LIBOR Interest Period which would otherwise end on a day which is not a
Business Day shall be extended to the next succeeding Business Day unless such
Business Day falls in another calendar month, in which case such LIBOR Interest
Period shall end on the next preceding Business Day; and

(b)  any LIBOR Interest Period which begins on a day for which there is no
numerically corresponding day in the subsequent month shall end on the last
Business Day of each subsequent month.

1.5  LIBOR Reserve Percentage means the maximum aggregate rate at which reserves
(including, without limitation, any marginal supplemental or emergency reserves)
are required to be maintained under Regulation D by member banks of the Federal
Reserve System with respect to dollar funding in the London interbank
market.  Without limiting the effect of the foregoing, the LIBOR Reserve
Percentage shall reflect any other reserves required to be maintained by such
member banks by reason of any applicable regulatory change against (i) any
category of liability which includes deposits by reference to which the Adjusted
LIBOR Rate is to be determined or (ii) any category of extensions of credit or
other assets related to LIBOR.

1.6  One Month LIBOR means the average rate quoted on Reuters Screen LIBOR01
Page (or such replacement page) on the determination date for deposits in U.S.
Dollars offered in the London interbank market for one month determined as of
11:00 a.m. London time two (2) Business Days prior to the commencement of the
applicable LIBOR Interest Period; provided that if the above method for
determining one-month LIBOR shall not be available, the rate quoted in The Wall
Street Journal, or a rate determined by a substitute method of determination
agreed on by Borrower and Bank; provided further that if such agreement is not
reached within a reasonable period of time (in Bank’s sole judgment), a rate
reasonably determined by Bank in its sole discretion as a rate being paid, as of
the determination date, by first class banking organizations (as determined by
Bank) in the London interbank market for U.S. Dollar deposits.

1.7  Standard Rate means, for any day, a rate per annum equal to the Bank’s
announced Prime Rate minus ______% per annum, and each change in the Standard
Rate shall be effective on the date any change in the Prime Rate is publicly
announced as being effective.

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Exhibit 10(a)

II.  
LOAN BEARING ADJUSTED LIBOR RATE

2.1  Application of Adjusted LIBOR Rate.  The Adjusted LIBOR Rate shall apply to
the entire principal balance outstanding of a LIBOR Advance for any LIBOR
Interest period.

2.2  Adjusted LIBOR Based Rate Protections.

(a)  Inability to Determine Rate.  In the event that Bank shall have determined,
which determination shall be final, conclusive and binding, that by reason of
circumstances occurring after the date of this Note affecting the London
interbank market, adequate and fair means do not exist for ascertaining the One
Month LIBOR on the basis provided for in this Note, Bank shall give notice (by
telephone confirmed in writing or by telecopy) to Borrower of such
determination, whereupon (i) no LIBOR Advance shall be made until Bank notifies
Borrower that the circumstances giving rise to such notice no longer exist, and
(ii) any request by Borrower for a LIBOR Advance shall be deemed to be a request
for an advance at the Standard Rate.

(b)  Illegality; Impracticability.  In the event that Bank shall determine,
which determination shall be final, conclusive and binding, that the making,
maintaining or continuance of any portion of a LIBOR Advance (i) has become
unlawful as a result of compliance by Bank with any law, treaty, governmental
rule, regulation, guideline or order (or would conflict with any of the same not
having the force of law even though the failure to comply therewith would not be
unlawful) or (ii) has become impracticable, or would cause Bank material
hardship, as a result of contingencies occurring after the date of this Note
materially and adversely affect the London interbank market or Bank’s ability to
make LIBOR Advances generally, then, and in any such event, Bank shall give
notice (by telephone confirmed in writing or by telecopy) to Borrower of such
determination.  Thereafter, (x) the obligation of Bank to make any LIBOR
Advances or to convert any portion of the loan to a LIBOR Advance shall be
suspended until such notice shall be withdrawn by Bank and (y) any request by
Borrower for a LIBOR Advance shall be deemed to be a request for an advance at
the Standard Rate.

This Addendum shall operate as a sealed instrument.

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Exhibit 10(a)

If Borrower Is a Corporation:
WITNESS:
DELTA NATURAL GAS COMPANY, INC.
 
(Name of Corporation)
 
 
/s/Ryan T. Hamilton                                           
By:/s/ John B. Brown                               (SEAL)
 
 
    Ryan T. Hamilton                                           
          John B. Brown                                             
(Print Name)
(Print Name)
 
 
 
Title:  Chief Financial Officer, Treasurer and Secretary
 
 
______________________________________
By:/s/ Glenn R. Jennings                              (SEAL)
 
   Glenn R. Jennings
 
(Print Name)
 
 
______________________________________
Title:  President
(Print Name)
 

If Borrower is a Partnership, Limited Liability Company, Limited Liability
Partnership,
Or Limited Liability Limited
Partnership                                                        
 
______________________________________________
 
Name of Partnership, LLC, LLP, or LLLP
WITNESS:
 
 
 
_____________________________________________
By:  _______________________________________ (SEAL)
 
 
______________________________________________
________________________________________________
(Print Name)
(Print Name)
 
 
 
Title:  ___________________________________________
 
 
______________________________________________
By:  _______________________________________ (SEAL)
 
 
______________________________________________
________________________________________________
(Print Name)
(Print Name)
 
 
 
Title:  __________________________________________
 
 
______________________________________________
By:  ______________________________________ (SEAL)
 
 
_______________________________________________
________________________________________________
(Print Name)
(Print Name)
 
 
 
Title:  ___________________________________________

If Borrower is an Individual:
WITNESS:
 
 
 
______________________________________________
__________________________________________ (SEAL)
_____________________________________________
 
(Print Name)
 

Additional Co-makers:
WITNESS:
 
 
 
_______________________________________________
___________________________________________ (SEAL)
 
 
______________________________________________
 
(Print Name)
 
 
 
______________________________________________
____________________________________________ (SEAL)
 
 
______________________________________________
 
(Print Name)
 

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Exhibit 10(a)

EIGHTH AMENDMENT TO LOAN AGREEMENT
BB&T Account Number: 9580219605

THIS EIGHTH AMENDMENT TO LOAN AGREEMENT (“Amendment”) is effective as of
June 30, 2015, and is by and among DELTA NATURAL GAS COMPANY, INC., a Kentucky
corporation (whether one or more, the “Borrower”), and Branch Banking and Trust
Company, a North Carolina banking corporation (“Bank”), having a branch office
in Lexington, Kentucky. This Eighth Amendment amends, modifies and supplements
that Loan Agreement dated October 31, 2002, by and between Borrower and Bank
(including any amendments or modifications thereof, the “Loan Agreement”).
Unless otherwise defined in this Amendment, capitalized terms used herein shall
have the definitions given them in the Loan Agreement.
RECITALS
A. Pursuant to the terms and conditions of the Loan Agreement, the Bank
established a line of credit in the original maximum amount of $40,000,000 (the
“Line of Credit”), evidenced by Borrower’s Promissory Note dated October 31,
2002 (including all renewals, extensions, modifications, restatements and
substitutions thereof, collectively, the "Note") payable to the order of the
Bank and bearing interest as set forth therein.
B. Borrower has requested, and Bank has agreed to, an extension of the maturity
date of the Line of Credit. In connection therewith, Bank has required the
amendments reflected herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged by the parties hereto, the parties hereto agree
as follows:
ARTICLE 1: AMENDMENTS TO LOAN AGREEMENT
1.1    Amendments to Loan Agreement.
(a)    The maturity date of the Line of Credit is hereby amended and extended to
June 30, 2017;
(b)    The interest rate on the Line of Credit has been modified as more fully
set forth in that certain Note Modification Agreement, made by and between the
parties and dated of even date herewith;
(c)    Section 5.02 is hereby deleted and replaced in its entirety with the
following:
5.02. Require the Borrower to pledge collateral, equally and ratably, to the
Bank and to the holders of the Long-Term Debt (defined below) from the
Borrower’s assets and properties, the acceptability and sufficiency of such
collateral to be determined in the Bank’s sole discretion. The Borrower has
issued its 4.26% Senior Notes, Series A due December 20, 2031 (“Long Term Debt”)
pursuant to the terms of that certain Note Purchase and Private Shelf Agreement
dated December 8, 2011 (“LT Debt Agreement”), which LT Debt Agreement, Section
9.2, requires the Borrower to secure the Long Term Debt with the same collateral
it pledges in favor of the Bank.     
(d)    The following Section 6.05 is hereby added to the Loan Agreement:
6.05 Liens. and will not permit any of its Subsidiaries to, directly or
indirectly create, incur, assume or permit to exist (upon the happening of a
contingency

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Exhibit 10(a)

or otherwise) any Lien on or with respect to any property or asset (including,
without limitation, any document or instrument in respect of goods or accounts
receivable) of the Borrower or any such Subsidiary, whether now owned or held or
hereafter acquired, or any income or profits therefrom, or assign or otherwise
convey any right to receive income or profits, except:
(i)    Liens for taxes, assessments or other governmental levies or charges
which are not yet due or which are being contested in good faith by the Borrower
or any Subsidiary for which adequate reserves have been taken in accordance with
GAAP;

(ii)    statutory Liens of landlords and Liens of carriers, contractors,
warehousemen, mechanics and materialmen incurred in the ordinary course of
business for sums not yet due or are being contested in good faith by the
Borrower or any Subsidiary and for which adequate reserves have been taken in
accordance with GAAP;

(iii)    Liens (other than any Lien imposed by ERISA) incurred, or deposits
made, in the ordinary course of business (a) in connection with workers’
compensation, unemployment insurance, old age benefit and other types of social
security, (b) to secure (or to obtain letters of credit that secure) the
performance of tenders, statutory obligations, surety bonds, appeal bonds (not
in excess of $5,000,000), bids, leases (other than Capital Leases), performance
bonds, purchase, construction or sales contracts and other similar obligations
or (c) otherwise to satisfy statutory or legal obligations; provided, that (1)
in each such case such Liens were not incurred or made in connection with the
incurrence or maintenance of Indebtedness, the borrowing of money or the
obtaining of advances or credit, and (2) in the case of any such Liens of the
type described in the preceding clause (b), such Liens do not, in the aggregate,
materially detract from the value of the Borrower’s and its subsidiaries’
properties and assets taken as a whole or materially impair the use of the
assets encumbered by such Lien in the operation of the business of the Borrower
or such Subsidiary;

(iv)    (a) attachment or judgment Liens that do not secure, in the aggregate,
obligations in excess of $1,000,000 at any time, and (b) any other attachment or
judgment Lien, provided that, within 30 days after the entry thereof, such Lien
is discharged or execution thereof stayed pending appeal, and, if stayed, such
Lien is discharged within 30 days after the expiration of any such stay;

(v)    easements, rights-of-way, restrictions and other similar charges or
encumbrances, in each case incidental to, and not interfering with, the ordinary
conduct of the business of the Borrower or any of its Subsidiaries, provided
that such Liens do not, in the aggregate, materially detract from the value of
the property or assets so encumbered or materially impair the use thereof in the
operation of the business of the Borrower or such Subsidiary;

(vi)    Liens on property or assets of a Subsidiary to secure obligations of
such Subsidiary to the Borrower or any Wholly Owned Subsidiary; and

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Exhibit 10(a)

(vii)    Liens other those described in clauses (i) - (vi) above that secure
Priority Debt; provided that (a) Priority Debt shall at no time exceed 10% of
Tangible Net Worth; (b) in no event shall the Borrower or any subsidiary permit
any Lien to exist at any time on any of their respective inventory or
receivables, (c) no Default or Event of Default shall exist and be continuing or
shall result therefrom and (d) the Borrower will not, and will not permit any
subsidiary to, grant Liens on its respective properties to secure obligations
under the LT Debt Agreement or the Long Term Debt.

For purposes of this Section 6.05, the following terms are defined as follows:

“Capital Lease” means, at any time, a lease with respect to which the lessee is
required concurrently to recognize the acquisition of an asset and the
incurrence of a liability in accordance with GAAP.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended
from time to time, and the rules and regulations promulgated thereunder from
time to time in effect.

“GAAP” means generally accepted accounting principles as in effect from time to
time in the United States of America.

“Governmental Authority” means

(a) the government of (i) the United States of America or any state or other
political subdivision thereof, or (ii) any other jurisdiction in which the
Borrower or any Subsidiary conducts all or any part of its business, or which
asserts jurisdiction over any properties of the Borrower or any Subsidiary, or

(b) any entity exercising executive, legislative, judicial, regulatory or
administrative functions of, or pertaining to, any such government.

“Guaranty” means, with respect to any Person, any obligation (except the
endorsement in the ordinary course of business of negotiable instruments for
deposit or collection) of such Person guaranteeing or in effect guaranteeing any
indebtedness, dividend or other obligation of any other Person in any manner,
whether directly or indirectly, including (without limitation) obligations
incurred through an agreement, contingent or otherwise, by such Person:

(a)    to purchase such indebtedness or obligation or any property constituting
security therefor;

(b)    to advance or supply funds (i) for the purchase or payment of such
indebtedness or obligation, or (ii) to maintain any working capital or other
balance sheet condition or any income statement condition of any other Person or
otherwise to advance or make available funds for the purchase or payment of such
indebtedness or obligation;

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Exhibit 10(a)

(c)    to lease properties or to purchase properties or services primarily for
the purpose of assuring the owner of such indebtedness or obligation of the
ability of any other Person to make payment of the indebtedness or obligation;
or

(d)    otherwise to assure the owner of such indebtedness or obligation against
loss in respect thereof.

In any computation of the indebtedness or other liabilities of the obligor under
any Guaranty, the indebtedness or other obligations that are the subject of such
Guaranty shall be assumed to be direct obligations of such obligor.

“Indebtedness” with respect to any Person means, at any time, without
duplication,

(a)    its liabilities for borrowed money and its redemption obligations in
respect of mandatorily redeemable Preferred Stock;

(b)    its liabilities for the deferred purchase price of property acquired by
such Person (excluding accounts payable arising in the ordinary course of
business but including all liabilities created or arising under any conditional
sale or other title retention agreement with respect to any such property);

(c)    (i) all liabilities appearing on its balance sheet in accordance with
GAAP in respect of Capital Leases and (ii) all liabilities which would appear on
its balance sheet in accordance with GAAP in respect of Synthetic Leases
assuming such Synthetic Leases were accounted for as Capital Leases;

(d)    all liabilities for borrowed money secured by any Lien with respect to
any property owned by such Person (whether or not it has assumed or otherwise
become liable for such liabilities);

(e)    all its liabilities in respect of letters of credit or instruments
serving a similar function issued or accepted for its account by banks and other
financial institutions (whether or not representing obligations for borrowed
money);

(f)    the aggregate Swap Termination Value of all Swap Contracts of such
Person; and

(g)    any Guaranty of such Person with respect to liabilities of a type
described in any of clauses (a) through (f) hereof.

Indebtedness of any Person shall include all obligations of such Person of the
character described in clauses (a) through (g) to the extent such Person remains
legally liable in respect thereof notwithstanding that any such obligation is
deemed to be extinguished under GAAP.

“Lien” means, with respect to any Person, any mortgage, lien, pledge, charge,
security interest or other encumbrance, or any interest or title of any

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Exhibit 10(a)

vendor, lessor, lender or other secured party to or of such Person under any
conditional sale or other title retention agreement or Capital Lease, upon or
with respect to any property or asset of such Person (including in the case of
stock, stockholder agreements, voting trust agreements and all similar
arrangements).

“Minority Interests” means any shares of capital stock of a Subsidiary (other
than directors’ qualifying shares as required by law) that are not owned by the
Borrower or a Wholly Owned Subsidiary.

“Net Worth” means, as at any time of determination thereof, the consolidated
stockholders’ equity of the Borrower and its Subsidiaries.

“Person” means an individual, partnership, corporation, limited liability
company, association, trust, unincorporated organization, business entity or
Governmental Authority.

“Preferred Stock” means any class of capital stock of a Person that is preferred
over any other class of capital stock (or similar equity interests) of such
Person as to the payment of dividends or the payment of any amount upon
liquidation or dissolution of such Person.

“Priority Debt” means, without duplication and as at any time of determination
thereof, the sum of the following items: (i) Indebtedness or other obligations
of the Borrower secured by Liens (other than Liens described in clauses (i)
through (vi) of Section 6.05); (ii) Indebtedness of any Subsidiary owing to any
Person other than the Borrower or a Wholly Owned Subsidiary; and (iii) Preferred
Stock of any Subsidiary held by any Person other than the Borrower or a Wholly
Owned Subsidiary.

“Subsidiary” means, as to any Person, any other Person in which such first
Person or one or more of its Subsidiaries or such first Person and one or more
of its Subsidiaries owns sufficient equity or voting interests to enable it or
them (as a group) ordinarily, in the absence of contingencies, to elect a
majority of the directors (or Persons performing similar functions) of such
second Person, and any partnership or joint venture if more than a 50% interest
in the profits or capital thereof is owned by such first Person or one or more
of its Subsidiaries or such first Person and one or more of its Subsidiaries
(unless such partnership can and does ordinarily take major business actions
without the prior approval of such Person or one or more of its Subsidiaries).
Unless the context otherwise clearly requires, any reference to a “Subsidiary”
is a reference to a Subsidiary of the Borrower.

"Swap Contract” means (a) any and all interest rate swap transactions, basis
swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts,
equity or equity index swaps or options, bond or bond price or bond index swaps
or options or forward foreign exchange transactions, cap transactions, floor
transactions, currency options, spot contracts or any other similar transactions
or any of the foregoing (including, but without limitation, any options to enter
into any of the foregoing), and (b) any and all transactions

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Exhibit 10(a)

of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the
International Swaps and Derivatives Association, Inc. or any International
Foreign Exchange Master Agreement.

“Swap Termination Value” means, in respect of any one or more Swap Contracts,
after taking into account the effect of any legally enforceable netting
agreement relating to such Swap Contracts, (a) for any date on or after the date
such Swap Contracts have been closed out and termination value(s) determined in
accordance therewith, such termination value(s), and (b) for any date prior to
the date referenced in clause (a), the amounts(s) determined as the
mark-to-market values(s) for such Swap Contracts, as determined based upon one
or more mid-market or other readily available quotations provided by any
recognized dealer in such Swap Contracts.

“Synthetic Lease” means, at any time, any lease (including leases that may be
terminated by the lessee at any time) of any property (a) that is accounted for
as an operating lease under GAAP and (b) in respect of which the lessee retains
or obtains ownership of the property so leased for U.S. federal income tax
purposes, other than any such lease under which such Person is the lessor.

“Tangible Net Worth” means, as at any time of determination thereof, Net Worth
less, without duplication, (i) the book value of all intangible items,
including, without limitation, goodwill, mineral rights, licenses,
organizational expense, unamortized debt discount and expense carried as an
asset and any write-up in the book value of assets, (ii) any net gains or losses
attributed to cumulative translation adjustments and (iii) Minority Interests.
For the avoidance of doubt, any assets of the Borrower and its Subsidiaries
classified as regulatory assets in accordance with GAAP or included in rate base
for rate recovery purposes will not be considered intangible.

“Wholly-Owned Subsidiary” means, at any time, any Subsidiary one hundred percent
of all of the equity interests (except a de minimus number of directors’
qualifying shares) and voting interests of which are owned by any one or more of
the Borrower and the Borrower’s other Wholly-Owned Subsidiaries at such time,
and which has outstanding no options, warrants, rights or other securities
entitling the holder thereof (other than the Borrower or a Wholly Owned
Subsidiary) to acquire shares of capital stock or other equity interests of such
Subsidiary.

(e)    Section 3.08 (Reporting Requirements) of the Loan Agreement is hereby
amended by deleting in its entirety the sub-section titled “Notice of Default”
and replacing such section with the following:
Notice of Default: Promptly upon discovery or knowledge thereof, notice of the
existence of any event of default under this Agreement or any other Loan
Document or under the LT Debt Agreement or any other documents executed in
connection with the Long Term Debt.

(f)    Section 7.14 (Fees), as amended per the terms of the Modification
Agreement dated August 12, 2005, shall remain in effect as follows:

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Exhibit 10(a)

Fees. Payment quarterly of an unused availability fee equal to one eighth of one
percent (0.0125%) of unused availability of the Line of Credit. Unused
availability is calculated by subtracting the average outstanding principal
balance for the previous ninety (90) days from the Committed Line Amount. In
addition, Borrower shall pay all attorneys’ and related legal fees and other
costs, if any, incurred by Bank in connection with the making, documenting and
closing of the Line.

ARTICLE II. REPRESENTATIONS AND WARRANTIES

2.1    The Borrower represents and warrants (which representations and
warranties shall survive the execution hereof) to the Bank that:

(a)    The representations and warranties made by the Borrower in the Loan
Agreement and the other Loan Documents are true and correct on and as of the
date hereof as though made on the date hereof.

(b)    All financial statements, reports and information delivered to the Bank
by the Borrower fairly represented the financial condition of the Borrower as of
the dates thereof, and no material adverse change has occurred in its financial
condition, business or operations since the most recently delivered of such
financial statements and information.

(c)    Borrower is in full compliance with the covenants and agreements
contained in the Loan Agreement and the other Loan Documents, and no event of
default exists and remains unremedied thereunder as of the date hereof.

(d)    When duly executed and delivered by Borrower, this Amendment shall
constitute its legal, valid and binding obligation, enforceable against it in
accordance with its terms, and the Borrower hereby ratifies and affirms the Loan
Agreement, as amended hereby, and the other Loan Documents.

ARTICLE III: CONDITIONS PRECEDENT

3.1    This Amendment shall become effective as of the date on which Bank first
shall have received in a form and substance satisfactory to Bank and its counsel
the following:

(a)    Counterparts of this Amendment executed by each of the parties hereto.

(b)    Copies, certified by the Secretary or Assistant Secretary of Borrower, of
all corporate action taken by Borrower’s board of directors to authorize the
execution, delivery, and performance of this Amendment.

(c)    Bank shall have received such other documents, agreements and instruments
as Bank may reasonably request.

ARTICLE IV: MISCELLANEOUS

4.1    Governing Law. The validity, construction and performance of this
Amendment will in all respects be governed by the laws of the Commonwealth of
Kentucky.

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Exhibit 10(a)

4.2    Successors and Assigns. All the terms and provisions of this Amendment
shall inure to the benefit of the parties hereto and their respective heirs,
personal representatives, executors, administrators, successors and permitted
assigns.

4.3    Continuing Effect. Other than as expressly amended and supplemented
hereby, the Loan Agreement shall remain unchanged in full force and effect.

4.4    Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be an original, but all of which shall
together constitute one and the same instrument.

4.5    No Novation. All the parties hereto agree that the execution of this
Amendment or any documents as contemplated by this Amendment or the consummation
of any transaction contemplated by this Amendment shall constitute a
modification of the Loan Agreement and shall not be construed as a novation.
                
[SIGNATURES ON FOLLOWING PAGE]
    

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Exhibit 10(a)

IN WITNESS WHEREOF, the undersigned parties have executed this Amendment as of
the date set forth above.

Borrower:

DELTA NATURAL GAS COMPANY, INC.

/s/Ryan Hamilton                                                   By    /s/John
B. Brown                                           _____           
Witness                                                                     
Name/Title: /s/John B. Brown
    Chief Financial Officer, Treasurer & Secretary

Bank:

BRANCH BANKING AND TRUST COMPANY

/s/Brian Blomeke_______                                             By   /s/Ryan
T. Hamilton                                        _                           
Witness                                                                       
Name/Title: Ryan T. Hamilton
Senior Vice President