Document:

Credit Agreement dated as of December 17, 2013

 Exhibit 10.3 

EXECUTION VERSION 

CREDIT AGREEMENT 
 dated as
of December 17, 2013 
 among 

TECO ENERGY, INC. 
 a Florida
Corporation, 
 as Initial Borrower 

NEW MEXICO GAS COMPANY, INC., 
 a
Delaware Corporation, 
 as Borrower 

JPMORGAN CHASE BANK, N.A., 
 as
Administrative Agent 
 and 
 THE
LENDERS AND LC ISSUING BANKS PARTY HERETO 
  
  

J.P. MORGAN SECURITIES LLC 

CITIGROUP GLOBAL MARKETS INC., 
 and

 MORGAN STANLEY SENIOR FUNDING, INC. 

as Joint Lead Arrangers and Joint Bookrunners 

CITIBANK, N.A. 
 and 

MORGAN STANLEY SENIOR FUNDING, INC. 

as Syndication Agents 
 SUNTRUST
BANK, THE BANK OF NEW YORK MELLON, UNION BANK, N.A., 
 WELLS FARGO BANK, NATIONAL ASSOCIATION 

and 
 ROYAL BANK OF CANADA 

as Documentation Agents 

 TABLE OF CONTENTS 
  

									
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 1.1
	 	 Definitions
	  	 	1	 
	 1.2
	 	 Rules of Interpretation
	  	 	1	 
		
	 ARTICLE II THE FACILITY
	  	 	1	 
			
	 2.1
	 	 The Facility
	  	 	1	 
		 	 2.1.1
	  	 Revolving Credit Loans
	  	 	1	 
		 	 2.1.2
	  	 Interest Provisions Applicable to all Loans
	  	 	2	 
		 	 2.1.3
	  	 Conversion of Loans
	  	 	4	 
		 	 2.1.4
	  	 Loan Principal Payment
	  	 	4	 
		 	 2.1.5
	  	 Promissory Notes
	  	 	5	 
		 	 2.1.6
	  	 Optional Prepayments
	  	 	5	 
	 2.2
	 	 Letter of Credit Facility
	  	 	5	 
		 	 2.2.1
	  	 Issuance of the Letter of Credit
	  	 	5	 
		 	 2.2.2
	  	 Availability; Expiration Date of Letters of Credit
	  	 	5	 
		 	 2.2.3
	  	 Notice of LC Activity
	  	 	6	 
		 	 2.2.4
	  	 Reimbursement
	  	 	6	 
		 	 2.2.5
	  	 Reimbursement Obligation Absolute
	  	 	7	 
		 	 2.2.6
	  	 Reduction and Reinstatement of Stated Amount
	  	 	7	 
		 	 2.2.7
	  	 Lender Participation
	  	 	8	 
		 	 2.2.8
	  	 Commercial Practices
	  	 	8	 
		 	 2.2.9
	  	 Liability of LC Issuing Banks
	  	 	9	 
		 	 2.2.10
	  	 Cash Collateral
	  	 	9	 
	 2.3
	 	 Total Commitment and Fees
	  	 	10	 
		 	 2.3.1
	  	 Total Commitment
	  	 	10	 
		 	 2.3.2
	  	 Reductions and Cancellations
	  	 	10	 
		 	 2.3.3
	  	 Increase of Total Commitment
	  	 	10	 
		 	 2.3.4
	  	 Extension of Maturity Date
	  	 	11	 
	 2.4
	 	 Fees
	  		  	 	12	 
		 	 2.4.1
	  	 Facility Fee; Ticking Fee
	  	 	12	 
		 	 2.4.2
	  	 Letter of Credit Fees
	  	 	13	 
		 	 2.4.3
	  	 Calculation of Fees
	  	 	13	 
	 2.5
	 	 Other Payment Terms
	  	 	13	 
		 	 2.5.1
	  	 Place and Manner
	  	 	13	 
		 	 2.5.2
	  	 Date
	  	 	14	 
		 	 2.5.3
	  	 Late Payments
	  	 	14	 
		 	 2.5.4
	  	 Net of Taxes, Etc.
	  	 	14	 
		 	 2.5.5
	  	 Application of Payments
	  	 	15	 
		 	 2.5.6
	  	 Failure to Pay Administrative Agent
	  	 	16	 
		 	 2.5.7
	  	 Withholding Exemption Certificates
	  	 	16	 
		 	 2.5.8
	  	 Certain Deductions by Administrative Agent
	  	 	17	 
	 2.6
	 	 Pro Rata Treatment
	  	 	17	 
		 	 2.6.1
	  	 Borrowings, Payments, Etc.
	  	 	17	 
		 	 2.6.2
	  	 Sharing of Payments, Etc.
	  	 	17	 
	 2.7
	 	 Change of Circumstances
	  	 	17	 
		 	 2.7.1
	  	 Inability to Determine Rates
	  	 	17	 

  
 -ii- 

									
		 	 2.7.2
	  	 Illegality
	  	 	18	 
		 	 2.7.3
	  	 Increased Costs
	  	 	18	 
		 	 2.7.4
	  	 Capital Requirements
	  	 	19	 
		 	 2.7.5
	  	 Delay in Request
	  	 	19	 
	 2.8
	 	 Funding Losses
	  	 	19	 
	 2.9
	 	 Alternate Office, Minimization of Costs
	  	 	20	 
		 	 2.9.1
	  	 Minimization of Costs
	  	 	20	 
		 	 2.9.2
	  	 Replacement Rights
	  	 	20	 
		 	 2.9.3
	  	 Alternate Office
	  	 	21	 
	 2.10
	 	 Swingline Loans
	  	 	21	 
		 	 2.10.1
	  	 Agreement to Make Swingline Loans
	  	 	21	 
		 	 2.10.2
	  	 Notice of Swingline Loans by Borrower
	  	 	21	 
		 	 2.10.3
	  	 Refinancing of Swingline Loans
	  	 	21	 
		 	 2.10.4
	  	 Repayment of Participations
	  	 	22	 
		 	 2.10.5
	  	 Interest for Account of Swingline Lenders
	  	 	23	 
	 2.11
	 	 Defaulting Lenders
	  	 	23	  
	 2.12
	 	 Designation of NMG as Borrower
	  	 	235	  
		
	 ARTICLE III CONDITIONS PRECEDENT
	  	 	25	 
			
	 3.1
	 	 Conditions Precedent to Signing Date
	  	 	25	 
		 	 3.1.1
	  	 Credit Facility Documents
	  	 	25	 
	 3.2
	 	 Conditions Precedent to Commitment Effective Date
	  	 	25	 
		 	 3.2.1
	  	 Acquisition
	  	 	25	 
		 	 3.2.2
	  	 No Material Adverse Effect
	  	 	25	 
		 	 3.2.3
	  	 Joinder and Release Agreement
	  	 	25	 
		 	 3.2.4
	  	 Resolutions
	  	 	25	 
		 	 3.2.5
	  	 Incumbency
	  	 	26	 
		 	 3.2.6
	  	 Legal Opinions
	  	 	26	 
		 	 3.2.7
	  	 Financial Statements
	  	 	26	 
		 	 3.2.8
	  	 Accuracy of Representations and Warranties; No Defaults
	  	 	26	 
		 	 3.2.9
	  	 Certificate of Borrower
	  	 	26	 
		 	 3.2.10
	  	 Payment of Fees
	  	 	26	 
		 	 3.2.11
	  	 Termination of the Existing Credit Agreement
	  	 	26	 
	 3.3
	 	 Conditions Precedent to Each Extension of Credit
	  	 	26	 
		 	 3.3.1
	  	 Accuracy of Representations and Warranties
	  	 	26	 
		 	 3.3.2
	  	 No Defaults
	  	 	27	 
		 	 3.3.3
	  	 Notice of Borrowing
	  	 	27	 
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES
	  	 	27	 
			
	 4.1
	 	 Corporate Existence and Business
	  	 	27	 
	 4.2
	 	 Power and Authorization; Enforceable Obligations
	  	 	27	 
	 4.3
	 	 No Legal Bar
	  	 	27	 
	 4.4
	 	 No Proceeding, Litigation or Investigation
	  	 	28	 
	 4.5
	 	 Governmental Approvals
	  	 	28	 
	 4.6
	 	 Financial Statements
	  	 	28	 
	 4.7
	 	 True and Complete Disclosure
	  	 	28	 
	 4.8
	 	 Investment Company Act
	  	 	28	 
	 4.9
	 	 Compliance with Law
	  	 	28	 
	 4.10
	 	 ERISA
	  	 	28	 
	 4.11
	 	 Solvency
	  	 	29	 
	 4.12
	 	 Taxes
	  	 	29	 

  
 -iii- 

									
	 4.13
	 	 Use of Credit
	  	 	29	 
	 4.14
	 	 FCPA; OFAC; Anti-Money Laundering
	  	 	29	 
		 	 4.14.1
	  	 No Unlawful Contributions or Other Payments
	  	 	29	 
		 	 4.14.2
	  	 OFAC
	  	 	29	 
		 	 4.14.3
	  	 No Conflict with Money Laundering Laws
	  	 	29	 
		
	 ARTICLE V COVENANTS OF BORROWER
	  	 	30	 
			
	 5.1
	 	 Existence
	  	 	30	 
	 5.2
	 	 Consents, Legal Compliance
	  	 	30	 
	 5.3
	 	 Prohibition of Certain Transfers
	  	 	30	 
	 5.4
	 	 Payment and Performance of Material Obligations
	  	 	31	 
	 5.5
	 	 Taxes
	  	 	31	 
	 5.6
	 	 Maintenance of Property, Insurance
	  	 	31	 
	 5.7
	 	 Compliance with Laws, Instruments, Etc.
	  	 	31	 
	 5.8
	 	 No Change in Business
	  	 	32	 
	 5.9
	 	 Financial Statements
	  	 	32	 
	 5.10
	 	 Notices
	  	 	33	 
	 5.11
	 	 Financial Covenants
	  	 	33	 
	 5.12
	 	 Indemnification
	  	 	33	 
	 5.13
	 	 Federal Regulations
	  	 	35	 
	 5.14
	 	 Use of Proceeds
	  	 	35	 
	 5.15
	 	 Transactions with Affiliates
	  	 	35	 
		
	 ARTICLE VI EVENTS OF DEFAULT; REMEDIES
	  	 	35	 
			
	 6.1
	 	 Events of Default
	  	 	36	 
		 	 6.1.1
	  	 Payments
	  	 	36	 
		 	 6.1.2
	  	 Debt Cross Default
	  	 	36	 
		 	 6.1.3
	  	 Bankruptcy; Insolvency
	  	 	36	 
		 	 6.1.4
	  	 Misstatements
	  	 	36	 
		 	 6.1.5
	  	 Breach of Terms of Agreement
	  	 	36	 
		 	 6.1.6
	  	 Judgments
	  	 	36	 
		 	 6.1.7
	  	 Change in Control
	  	 	36	 
		 	 6.1.8
	  	 ERISA Violations
	  	 	37	 
		 	 6.1.9
	  	 Lack of Validity, Etc.
	  	 	37	 
	 6.2
	 	 Remedies
	  	 	37	 
		 	 6.2.1
	  	 No Further Loans
	  	 	37	 
		 	 6.2.2
	  	 Cure by Administrative Agent
	  	 	37	 
		 	 6.2.3
	  	 Acceleration
	  	 	38	 
		 	 6.2.4
	  	 Cash Collateralization of Letters of Credit
	  	 	38	 
		
	 ARTICLE VII ADMINISTRATIVE AGENT, SUBSTITUTION, AMENDMENTS, ETC.
	  	 	38	 
			
	 7.1
	 	 Appointment, Powers and Immunities
	  	 	38	 
	 7.2
	 	 Reliance
	  	 	39	 
	 7.3
	 	 Non-Reliance
	  	 	40	 
	 7.4
	 	 Defaults
	  	 	40	 
	 7.5
	 	 Indemnification
	  	 	40	 
	 7.6
	 	 Successor Administrative Agent
	  	 	41	 
	 7.7
	 	 Authorization
	  	 	41	 
	 7.8
	 	 Administrative Agent’s Other Roles; Other Agents
	  	 	41	 
	 7.9
	 	 Amendments; Waivers
	  	 	41	 
	 7.10
	 	 Withholding Tax
	  	 	42	 

  
 -iv- 

									
	 7.11
	 	 General Provisions as to Payments
	  	 	43	 
	 7.12
	 	 Participations
	  	 	43	 
	 7.13
	 	 Transfer of Commitments
	  	 	44	 
		 	 7.13.1
	  	 Assignments
	  	 	44	 
		 	 7.13.2
	  	 Register
	  	 	45	 
		 	 7.13.3
	  	 No Assignments to Certain Persons
	  	 	46	 
		 	 7.13.4
	  	 Assignability as to Collateral
	  	 	46	 
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	46	 
			
	 8.1
	 	 Addresses
	  	 	46	 
	 8.2
	 	 Additional Security; Right to Set-Off
	  	 	48	 
	 8.3
	 	 Delay and Waiver
	  	 	49	 
	 8.4
	 	 Costs, Expenses and Attorneys’ Fees
	  	 	49	 
	 8.5
	 	 Entire Agreement
	  	 	49	 
	 8.6
	 	 Governing Law
	  	 	49	 
	 8.7
	 	 Severability
	  	 	50	 
	 8.8
	 	 Headings
	  	 	50	 
	 8.9
	 	 Accounting Terms
	  	 	50	 
	 8.10
	 	 No Partnership, Etc.
	  	 	50	 
	 8.11
	 	 Limitation on Liability
	  	 	50	 
	 8.12
	 	 Waiver of Jury Trial
	  	 	50	 
	 8.13
	 	 Consent to Jurisdiction
	  	 	50	 
	 8.14
	 	 Knowledge and Attribution
	  	 	51	 
	 8.15
	 	 Successors and Assigns
	  	 	51	 
	 8.16
	 	 Counterparts
	  	 	51	 
	 8.17
	 	 Patriot Act Notice
	  	 	51	 
	 8.18
	 	 Payments Set Aside
	  	 	51	 
	 8.19
	 	 No Advisory or Fiduciary Responsibility
	  	 	52	 

  

			
	SCHEDULES	  	
		
	Schedule 1	  	Lenders and Commitments
	Schedule 5.3.3	  	Existing Liens
		
	EXHIBITS	  	
		
	Exhibit A	  	Definitions
	Exhibit B	  	Form of Assignment and Assumption
	Exhibit C	  	Form of Revolving Note
	Exhibit D	  	Form of Swingline Note
	Exhibit E-1	  	Form of Notice of Revolving Borrowing
	Exhibit E-2	  	Form of Notice of Conversion of Loan Type
	Exhibit E-3	  	Form of Confirmation of Interest Period Selection
	Exhibit E-4	  	Form of Notice of LC Activity
	Exhibit F	  	Form of Notice of Swingline Borrowing
	Exhibit G	  	Form of Borrower’s Closing Certificate
	Exhibit H-1	  	Form of Opinion of Assistant General Counsel or Special New Mexico Counsel to the Obligors
	Exhibit H-2	  	Form of Opinion of Edwards Wildman Palmer LLP, counsel to the Obligors

  
 -v- 

			
	Exhibit H-3	  	Form of Opinion of Milbank, Tweed, Hadley & McCloy LLP, counsel to the Administrative Agent
	Exhibit I	  	Form of Joinder and Release Agreement

  
 -vi- 

 CREDIT AGREEMENT (this “Agreement”) dated as of December 17, 2013 among
TECO ENERGY, INC., a Florida corporation, until the satisfaction of the conditions precedent set forth in Section 3.2 at which point the borrower will become NEW MEXICO GAS COMPANY, INC., a Delaware corporation (the
“Borrower”), the LENDERS party hereto, each LC ISSUING BANK party hereto and JPMORGAN CHASE BANK N.A., as Administrative Agent. 

RECITALS 
 The Borrower has
requested, and the Lenders have agreed to extend, the credit facility hereinafter described in the amount and on the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual agreements contained herein, and other good and valuable consideration, the receipt of
sufficiency of which are hereby acknowledged, the Borrower, the Lenders, the Administrative Agent agree as follows: 
 ARTICLE I 

DEFINITIONS 
 1.1
Definitions. 
 Except as otherwise expressly provided, capitalized terms used in this Agreement and its exhibits shall have the
meanings given in Exhibit A. 
 1.2 Rules of Interpretation. 

Except as otherwise expressly provided, the Rules of Interpretation set forth in Exhibit A shall apply to this Agreement and the other
Credit Facility Documents. 
 ARTICLE II 

THE FACILITY 
 2.1 The
Facility. 
 2.1.1 Revolving Credit Loans. 

2.1.1.1 Availability. Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to make loans in
Dollars to Borrower from time to time during the Availability Period (each, a “Revolving Loan”) in an aggregate principal amount that will not result, after giving effect thereto and the use of proceeds thereof, in (i) such
Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (ii) the total Revolving Credit Exposures of all the Lenders exceeding the Total Commitment. Subject to the provisions of this Agreement, each Revolving Loan
shall be funded by the Lenders as described in Section 2.1.1.3. Within the foregoing limits and subject to the terms and conditions set forth herein, Borrower may borrow, prepay and reborrow Revolving Loans. 

2.1.1.2 Notice of Revolving Borrowing. Borrower shall request Revolving Loans by delivering to Administrative Agent a written notice
in the form of Exhibit E-1, appropriately completed (a “Notice of Revolving Borrowing”) which specifies, among other things: 

(a) whether such Borrowing will be a Base Rate Loan or a LIBOR Loan; 

 (b) in the case of any LIBOR Loan, the initial Interest Period to be applicable thereto, which
shall be a period contemplated by the definition of “Interest Period” 
 (c) the amount of the requested Borrowing, which shall
be in the minimum amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof (except in the case of a Revolving Loan of all remaining undrawn amounts under the Total Commitment); 

(d) the date of the requested Borrowing, which shall be a Banking Day; and 

(e) the account(s) to which the proceeds of the Borrowing are to be credited, as contemplated by Section 2.1.1.3(d). 

Borrower shall deliver each such Notice of Revolving Borrowing so as to provide not less than the Minimum Notice Period. Any Notice of Revolving Borrowing may
be modified or revoked by Borrower through the Banking Day prior to the applicable Minimum Notice Period, and thereafter shall be irrevocable. 

2.1.1.3 Revolving Loan Funding. 

(a) Notice. The Notice of Revolving Borrowing shall be delivered to Administrative Agent in accordance with Section 8.1.
Administrative Agent shall promptly notify each Lender of the contents of each Notice of Revolving Borrowing. 
 (b) Pro Rata Loans.
Each Revolving Loan shall be made on a pro rata basis by the Lenders in accordance with their respective Proportionate Shares, with each Revolving Borrowing to consist of a Revolving Loan by each Lender equal to such Lender’s Proportionate
Share of such Borrowing. 
 (c) Lender Funding. Each Lender shall, before 12:00 noon in the case of LIBOR Loans and 2:00 p.m. in the
case of Base Rate Loans, in each case, on the date of each Borrowing, make available to Administrative Agent at the Administrative Agent’s Office, in same day funds, such Lender’s Proportionate Share of such Borrowing. The failure of any
Lender to make the Revolving Loan to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation hereunder to make its Revolving Loan on the date of such Borrowing. No Lender shall be responsible for the failure of
any other Lender to make the Revolving Loan to be made by such other Lender on the date of any Borrowing. 
 (d) Funding of Revolving
Loans. No later than 2:00 p.m. in the case of LIBOR Loans and 3:00 p.m. in the case of Base Rate Loans, in each case, on the date specified in each Notice of Revolving Borrowing, if the applicable conditions precedent listed in
Article III have been satisfied or waived and to the extent Administrative Agent shall have received the appropriate funds from the Lenders, Administrative Agent shall make available the Revolving Loans requested in such Notice of Revolving
Borrowing in Dollars and in immediately available funds, at Administrative Agent’s Office, and shall transfer such funds to the bank account(s) specified by Borrower in the Notice of Revolving Borrowing delivered in respect of such Borrowing.

 2.1.2 Interest Provisions Applicable to all Loans. 

2.1.2.1 Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Loan from the date of such Loan until
the maturity or prepayment thereof at one of the following rates per annum: 
 (a) With respect to the principal portion of each Revolving
Loan that is, and during such periods as such Revolving Loan is, a Base Rate Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; 

(b) With respect to the principal portion of each Revolving Loan that is, and during such periods as such Revolving Loan is, a LIBOR Loan, at
a rate per annum during each Interest Period for such LIBOR Loan equal to the LIBO Rate for such Interest Period plus the Applicable Rate; and 

(c) With respect to the principal portion of each Swingline Loan, prior to the applicable Swingline Loan Maturity Date, at the applicable
rate per annum as agreed in writing between Borrower and the relevant Swingline Lender prior to the making of such Swingline Loan. 

2.1.2.2 Interest Provisions. Unless otherwise specified by Borrower in a Notice of Revolving Borrowing or Notice of Conversion of Loan
Type and except as otherwise provided for herein, all Revolving Loans shall be Base Rate Loans. Subject to the applicable limitations set forth herein, Revolving Loans shall bear interest based upon the LIBO Rate as specified by Borrower in the
applicable Notice of Revolving Borrowing or Notice of Conversion of Loan Type. Borrower shall not request, and the Lenders shall not be obligated to make, LIBOR Loans at any time an Inchoate Default or Event of Default exists. If an Event of Default
exists at the end of an Interest Period, the LIBOR Loans whose Interest Period is then ending shall automatically convert to Base Rate Loans at such time (notwithstanding the delivery of a Confirmation of Interest Period Selection with respect to
such Loans). 
 2.1.2.3 Interest Payment Dates. Borrower shall pay accrued interest on the unpaid principal amount of each Loan
(i) in the case of each Base Rate Loan, on the last Banking Day of each calendar quarter, (ii) in the case of each LIBOR Loan, on the last day of each Interest Period related to each LIBOR Loan and, with respect to Interest Periods longer
than three months, on each successive date three months after the first day of such Interest Period, (iii) in the case of each Swingline Loan, on the last Banking Day of each calendar quarter and (iv) in all cases, upon prepayment (to
the extent thereof and including any optional prepayments), upon conversion from one Type of Loan to another Type (in the case of a Revolving Loan), and at maturity (whether by acceleration or otherwise). 

2.1.2.4 Interest Periods and Selection. 

(a) Notwithstanding anything herein to the contrary, (i) Borrower may not at any time have outstanding more than eight different
Interest Periods relating to LIBOR Loans; and (ii) LIBOR Loans for each Interest Period shall be in the amount of at least $1,000,000. 

(b) Borrower may contact Administrative Agent at any time prior to the end of an Interest Period for a quotation of interest rates in effect
at such time for given Interest Periods and Administrative Agent shall promptly provide such quotation. Borrower may select an Interest Period telephonically within the time periods specified in Section 2.1.1.2, which selection shall be
irrevocable on and after commencement of the applicable Minimum Notice Period. Borrower shall confirm such telephonic notice to Administrative Agent by telecopy on the day such notice is given (in substantially the form of Exhibit E-3, a “Confirmation of Interest Period Selection”) and Administrative Agent shall promptly forward the same to the Lenders. Borrower shall promptly deliver to Administrative Agent the
original of the Confirmation of Interest Period Selection initially delivered by telecopy. If Borrower fails to 

 
notify Administrative Agent of the next Interest Period for any LIBOR Loans in accordance with this Section 2.1.2.4(b), such Loans shall automatically convert to Base Rate Loans on the last
day of the current Interest Period therefor. Administrative Agent shall as soon as practicable (and, in any case, within two Banking Days after delivery of the Confirmation of Interest Period Selection by telecopy as provided for above) notify
Borrower of each determination of the interest rate applicable to each Revolving Loan. 
 2.1.2.5 Interest Account and Interest
Computations. Borrower authorizes Administrative Agent to record in an account or accounts maintained by Administrative Agent on its books (i) the interest rates applicable to all Loans and the effective dates of all changes thereto,
(ii) the Interest Period for each LIBOR Loan, (iii) the date and amount of each principal and interest payment on each Loan and (iv) such other information as Administrative Agent may determine is necessary for the computation of
interest payable by Borrower hereunder. Borrower agrees that all computations by Administrative Agent of interest shall be conclusive in the absence of demonstrable error. All computations of interest on Loans shall be based upon a year of
360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case
shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or LIBO Rate shall be determined by Administrative Agent, and such determination shall be conclusive
absent manifest error. 
 2.1.3 Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to
another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be
converted only in amounts of $1,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2,
appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: 
 (a) the Revolving Loans, or portion
thereof, which are to be converted; 
 (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; 

(c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in
accordance with Section 2.1.2.4(b); and 
 (d) the date of the requested conversion, which shall be a Banking Day. 

Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice
Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by
first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original
of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type. 

2.1.4 Loan Principal Payment. Borrower shall repay to Administrative Agent, for the account of each Lender on the Maturity Date the
unpaid principal amount of each Revolving Loan made by 

 
such Lender. Borrower shall repay to Administrative Agent, for the account of the relevant Swingline Lender, on the relevant Swingline Loan Maturity Date the unpaid principal amount of each
Swingline Loan made by such Swingline Lender. From and after the Maturity Date, upon payment in full of the aggregate principal amount of the Loans, all accrued and unpaid interest thereon and all other amounts owed by Borrower to Administrative
Agent or the Lenders hereunder and under the other Credit Facility Documents, the Lenders shall promptly mark any Notes cancelled and return such cancelled Notes to Borrower. 

2.1.5 Promissory Notes. The obligation of Borrower to repay the Loans made by each Lender and to pay interest thereon at the rates
provided herein shall, upon the written request of any Lender, be evidenced by promissory notes in the form of Exhibit C (each, a “Revolving Note”), payable to such Lender and in the principal amount of such Lender’s
Commitment. The obligation of Borrower to repay the Swingline Loans made by each Swingline Lender and to pay interest thereon at the rates provided herein shall, upon the written request of any Swingline Lender, be evidenced by a promissory note in
the form of Exhibit D (each, a “Swingline Note”; and each Revolving Note and Swingline Note, a “Note”), payable to such Swingline Lender and in the principal amount of the Swingline Sublimit. Borrower authorizes
each Lender to record on the schedule annexed to such Lender’s Note, and/or in such Lender’s internal records, the date and amount of each Loan made by such Lender, and each payment or prepayment of principal thereunder and agrees that all
such notations shall constitute prima facie evidence of the matters noted. Borrower further authorizes each Lender to attach to and make a part of such Lender’s Note continuations of the schedule attached thereto as necessary. No failure to
make any such notations, nor any errors in making any such notations shall affect the validity of Borrower’s obligation to repay the full unpaid principal amount of the Loans or the duties of Borrower hereunder or thereunder. 

2.1.6 Optional Prepayments. Borrower may, at its option and without penalty, upon notice to Administrative Agent before 12:00 noon on
the date of prepayment (which shall be a Banking Day), in the case of Base Rate Loans or Swingline Loans, or upon at least three Banking Days’ notice to Administrative Agent, in the case of LIBOR Loans, prepay any Loans in whole or in part in
an amount of (a) in the case of Revolving Loans, $1,000,000 or an integral multiple of $1,000,000 in excess thereof (except in the case of a prepayment of all the Revolving Loans) or (b) in the case of Swingline Loans, $500,000 or an
integral multiple of $100,000 in excess thereof (except in the case of a prepayment of all the Swingline Loans). Upon the prepayment of any Revolving Loan, Borrower shall pay to Administrative Agent for the account of the Lender which made such Loan
(i) all accrued interest to the date of such prepayment on the amount prepaid and (ii) if such prepayment is the prepayment of a LIBOR Loan on a day other than the last day of an Interest Period for such LIBOR Loan, all Liquidation Costs
incurred by such Lender as a result of such prepayment (pursuant to the terms of Section 2.8). 
 2.2 Letter of Credit Facility.

 2.2.1 Issuance of the Letter of Credit. Subject to the terms and conditions set forth in this Agreement and the applicable LC
Application, each LC Issuing Bank shall, during the Availability Period on each Banking Day specified in a Notice of LC Activity described in Section 2.2.3, issue Letters of Credit, extend the expiry date of any Letter of Credit or increase the
Stated Amount of any Letter of Credit (as applicable), for the account of Borrower, of the Letter(s) of Credit to which such Notice of LC Activity relates, and deliver each such Letter of Credit (or a notice of extension of the expiry date thereof
or increase in the Stated Amount thereof) to the applicable LC Beneficiary. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of the applicable LC Application, the terms and conditions
of this Agreement shall control. 
 2.2.2 Availability; Expiration Date of Letters of Credit. The LC Issuing Banks shall have no
obligation to issue any Letter of Credit, extend the expiry date of any Letter of Credit or increase the Stated Amount of any Letter of Credit if, after giving effect to such issuance, extension or increase,

 
(a) the total Revolving Credit Exposures of all the Lenders then outstanding would exceed the Total Commitment, (b) the total LC Exposure then outstanding would exceed $40,000,000 or
(c) in the event at the time of such issuance, extension or increase there shall be different Maturity Dates for the Lenders, the aggregate Stated Amount of all Letters of Credit then outstanding which have an expiry date after the then
earliest Maturity Date of any Lender would exceed the aggregate Commitments as to which the Maturity Date has been extended to a date after such earliest Maturity Date. Notwithstanding anything herein to the contrary, each Letter of Credit shall
expire at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and
(ii) the date that is five Banking Days prior to the Maturity Date (or, if at any time there shall be different Maturity Dates for the Lenders, subject to clause (c) of the immediately preceding sentence). 

2.2.3 Notice of LC Activity. Borrower may from time to time request the issuance of a Letter of Credit, the extension of the expiry
date of any Letter of Credit or the increase in the Stated Amount of any Letter of Credit by delivering to Administrative Agent and the relevant LC Issuing Bank an irrevocable written notice in the form of Exhibit E-4, appropriately completed (a
“Notice of LC Activity”), which specifies, among other things: 
 (i) the particulars of the Letter of
Credit to be issued or the specific Letter of Credit to be extended or the Stated Amount of which is to be increased; 
 (ii)
the name of the LC Issuing Bank for such Letter of Credit; 
 (iii) the issue date and expiration date of the Letter of
Credit to be issued or extended (which shall be subject to the last sentence of Section 2.2.2); and 
 (iv) the Stated
Amount of such Letter of Credit. 
 Borrower shall give the Notice of LC Activity to Administrative Agent and the relevant LC Issuing Bank
at least two Banking Days before the requested date of issuance of any Letter of Credit, and at least two Banking Days before the requested date of extension, or increase in the Stated Amount, of any Letter of Credit. Any Notice of LC Activity, once
given by Borrower, may not be modified or revoked. 
 2.2.4 Reimbursement. Each LC Issuing Bank shall notify Borrower of any Drawing
Payment under any Letter of Credit issued by such LC Issuing Bank within one Banking Day after the date that such Drawing Payment is made (the date such Drawing Payment is made, the “Drawing Date”); provided, however,
that such LC Issuing Bank’s failure to provide such notification shall not relieve Borrower of its Reimbursement Obligation. No later than 12:00 noon on the Banking Day next following receipt of such notice, Borrower shall either make or cause
to be made to such LC Issuing Bank a payment, or Borrower shall deliver a Notice of Revolving Borrowing for a Base Rate Loan to be made to Borrower on such Banking Day, or a combination of a payment and delivery of such a Notice of Revolving
Borrowing, as applicable, in an aggregate amount (the “Reimbursement Payment”) equal to the sum of (a) the full amount of such Drawing Payment and (b) interest thereon for each day or portion thereof until such Drawing
Payment is paid in full made at a rate equal to (i) from the Drawing Date through such next following Banking Day, the Alternate Base Rate plus the Applicable Rate then applicable to Base Rate Loans and (ii) thereafter, the Default
Rate; provided that (x) such Reimbursement Payment shall be for the benefit of each Lender (in proportion to its Proportionate Share) to the extent that, prior to the time such Reimbursement Payment is made, such Lender has, pursuant to
Section 2.2.7, paid such LC Issuing Bank its respective Proportionate Share of the Drawing Payment made by such LC Issuing Bank; (y) the proceeds of any Base Rate Loans shall be applied by Administrative Agent to the extent required to
make the respective Reimbursement Payment, and (z) in the event Borrower shall fail to obtain any such Base Rate 

 
Loans, Borrower shall forthwith make such Reimbursement Payment. If a Reimbursement Payment is made in the full amount of such Drawing Payment by 3:00 p.m. on the applicable Drawing Date, no
interest shall be payable on such Drawing Payment. 
 2.2.5 Reimbursement Obligation Absolute. The Reimbursement Obligation of
Borrower for each Drawing Payment shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under and without regard to any circumstances, including (a) any lack of validity
or enforceability of any Letter of Credit, this Agreement or any of the other Credit Facility Documents; (b) any amendment or waiver of or any consent to departure from all or any terms of any of the Letters of Credit, this Agreement or any of
the other Credit Facility Documents; (c) the existence of any claim, setoff, defense or other right which Borrower may have at any time against any LC Beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such LC
Beneficiary or transferee may be acting), any LC Issuing Bank, Administrative Agent, any Lender or any other Person, whether in connection with any Letter of Credit, this Agreement, the transactions contemplated herein or in the other Credit
Facility Documents, or in any unrelated transactions; (d) any breach of contract or dispute among or between Borrower, any LC Issuing Bank, Administrative Agent, any Lender, or any other Person; (e) any demand, statement, certificate,
draft or other document presented under any Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (f) payment by any LC Issuing Bank under
any Letter of Credit against presentation of any demand, statement, certificate, draft or other document which does not comply with the terms of such Letter of Credit; (g) any non-application or misapplication by an LC Beneficiary of the
proceeds of any Drawing Payment under a Letter of Credit or any other act or omission of an LC Beneficiary in connection with a Letter of Credit; (h) any extension of time for or delay, renewal or compromise of or other indulgence or
modification to the Drawing Payment granted or agreed to by any LC Issuing Bank, Administrative Agent or any Lender, with or without notice to or approval by Borrower; (i) any failure to preserve or protect any collateral, any failure to
perfect or preserve the perfection of any lien thereon, or the release of any of the collateral securing the performance or observance of the terms of this Agreement or any of the other Credit Facility Documents; (j) the solvency or financial
responsibility of any party issuing any documents in connection with the Letter of Credit; (k) any error in the transmission of any message relating to a Letter of Credit not caused by the LC Issuing Bank thereof, or any delay or interruption
in any such message; (l) any error, neglect or default of any correspondent of any LC Issuing Bank in connection with a Letter of Credit; (m) any consequence arising from acts of God, war, insurrection, civil unrest, disturbances, labor
disputes, emergency conditions or other causes beyond the control of any LC Issuing Bank; (n) so long as an LC Issuing Bank in good faith determines that the contract or document appears substantially to comply with the terms of the Letter of
Credit, the form, accuracy, genuineness or legal effect of any contract or document referred to in any document submitted to such LC Issuing Bank in connection with a Letter of Credit except to the extent such LC Issuing Bank’s actions are
judicially determined to have constituted gross negligence; or (o) any other circumstances or happenings whatsoever relating to Borrower or such Reimbursement Obligation, whether or not similar to any of the foregoing, including any commercial
frustration of purpose, any Change of Law, any failure of an LC Beneficiary or any other Person to perform or observe any agreement, whether express or implied, or any duty, liability or obligation arising out of or in connection with the Credit
Facility Documents to which each is a party; provided, however, that nothing in this Section 2.2.5 shall relieve any LC Issuing Bank, Administrative Agent or any Lender from liability for its gross negligence or willful
misconduct. 
 2.2.6 Reduction and Reinstatement of Stated Amount. The Stated Amount of each Letter of Credit shall be reduced by the
amount of Drawing Payments made in respect thereof. Notwithstanding anything to the contrary contained in this Section 2.2.6, once so reduced, the Stated Amount of any Letter of Credit shall not be reinstated except upon payment by Borrower of
the Reimbursement Obligation corresponding to such Drawing Payment and satisfaction of the conditions for an increase in the Stated Amount of a Letter of Credit set forth in Section 3.2. 

 2.2.7 Lender Participation. By the issuance of a Letter of Credit by an LC Issuing Bank
(and an amendment to a Letter of Credit increasing the amount thereof) and without further action on the part of such LC Issuing Bank or the Lenders, such LC Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from such LC
Issuing Bank, a participation in such Letter of Credit in an amount equal to such Lender’s Proportionate Share of the Stated Amount of such Letter of Credit, and the issuance of a Letter of Credit shall be deemed a confirmation to the LC
Issuing Banks of such participation in such amount. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to Administrative Agent, for the account of the relevant LC Issuing Bank, such
Lender’s Proportionate Share of each Reimbursement Obligation made by such LC Issuing Bank and not reimbursed by Borrower on the date due as provided in Section 2.2.4, or of any Reimbursement Payment required to be refunded to Borrower for
any reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this Section 2.2.7 in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever.
Each LC Issuing Bank may request the Lenders to pay to such LC Issuing Bank their respective Proportionate Shares of all or any portion of any Drawing Payment made or to be made by such LC Issuing Bank under any Letter of Credit by contacting each
Lender and Administrative Agent telephonically (promptly confirmed in writing) within two Banking Days after such LC Issuing Bank has received notice of or request for such Drawing Payment, and specifying the amount of such Drawing Payment, such
Lender’s Proportionate Share thereof, and the date on which such Drawing Payment is to be made or was made; provided, however, that such LC Issuing Bank shall not request the Lenders to make any payment under this
Section 2.2.7 in connection with any portion of a Drawing Payment for which such LC Issuing Bank has been reimbursed through a Reimbursement Payment by Borrower (unless such Reimbursement Payment has been thereafter recovered by Borrower). Upon
receipt of any such request for payment from such LC Issuing Bank, each Lender shall pay to such LC Issuing Bank such Lender’s Proportionate Share of the unreimbursed portion of such Drawing Payment, together with interest thereon at a per
annum rate equal to the greater of the Federal Funds Effective Rate from time to time in effect and a rate determined by such LC Issuing Bank in accordance with banking industry rules on interbank compensation, from the date of such Drawing Payment
to the date on which such Lender makes payment. Each Lender’s obligation to make each such payment to such LC Issuing Bank shall be absolute, unconditional and irrevocable and shall not be affected by any circumstance whatsoever, including the
occurrence or continuance of any Inchoate Default or Event of Default, or the failure of any other Lender to make any payment under this Section 2.2.7, and each Lender further agrees that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. If any Reimbursement Payment is made to Administrative Agent or any LC Issuing Bank, Administrative Agent or such LC Issuing Bank, as applicable, shall pay to each Lender which has paid its
Proportionate Share of the Drawing Payment such Lender’s Proportionate Share of the Reimbursement Payment and shall, in the case of Administrative Agent, pay to such LC Issuing Bank and, in the case of such LC Issuing Bank, retain, the balance
of such Reimbursement Payment. 
 2.2.8 Commercial Practices. Borrower assumes all risks of the acts or omissions of any LC
Beneficiary or transferees of any Letter of Credit with respect to the use of such Letter of Credit. Borrower agrees that neither any LC Issuing Bank, Administrative Agent nor any Lender (nor any of their respective directors, officers, or
employees) shall be liable or responsible for: (a) the use which may be made of any Letter of Credit or for any acts or omissions of any LC Beneficiary or transferee in connection therewith; (b) any reference which may be made to this
Agreement or to any Letter of Credit in any agreements, instruments or other documents; (c) the validity, sufficiency or genuineness of documents other than the Letters of Credit, or of any endorsement(s) thereon, even if such documents should
in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged or any statement therein proved to be untrue or inaccurate in any respect whatsoever; (d) payment by any LC Issuing Bank against presentation of documents
which do not strictly comply with the terms of the applicable Letter of Credit, including failure of any documents to bear any reference or adequate reference to such Letter of Credit; or (e) any other circumstances whatsoever in making or
failing to make payment under any Letter of Credit, 

 
except only that an LC Issuing Bank shall be liable to Borrower for acts or events described in clauses (a) through (e) above, to the extent, but only to the extent, of any direct
damages, as opposed to indirect, special or consequential damages, suffered by Borrower which Borrower proves were caused by (i) any LC Issuing Bank’s willful misconduct or gross negligence in determining whether a drawing made under the
applicable Letter of Credit complies with the terms and conditions therefor stated in such Letter of Credit or (ii) any LC Issuing Bank’s willful failure to pay under any Letter of Credit after a drawing by the respective LC Beneficiary
strictly complying with the terms and conditions of the applicable Letter of Credit. Without limiting the foregoing, any LC Issuing Bank may accept any document that appears on its face to be in order, without responsibility for further
investigation. Borrower hereby waives any right to object to any payment made under a Letter of Credit with regard to a drawing that is in the form provided in such Letter of Credit but which varies with respect to punctuation (except punctuation
with respect to any Dollar amount specified therein), capitalization, spelling or similar matters of form. 
 2.2.9 Liability of LC
Issuing Banks. Each LC Issuing Bank shall be entitled to the protection accorded to Administrative Agent pursuant to Section 7.1.2 with such conforming changes thereto as may necessary to make such provisions applicable to each LC Issuing
Bank. 
 2.2.10 Cash Collateral. Upon the occurrence and during the continuation of an Event of Default under Section 6.1 or at
such time as, pursuant to the terms hereof, Administrative Agent and the Lenders have accelerated the Obligations and upon the request of Administrative Agent (acting at the direction of the relevant LC Issuing Bank or Required Lenders) or at such
other times as Borrower shall, or shall be required, by the terms hereof to provide Cash Collateral, Borrower shall immediately Cash Collateralize the LC Exposure in an amount not less than total LC Exposure. At any time that there shall exist a
Defaulting Lender, immediately upon the written request of Administrative Agent or any applicable LC Issuing Bank or Swingline Lender (in each case, with a copy to Administrative Agent), Borrower shall Cash Collateralize the relevant LC Exposure of
such LC Issuing Bank or the relevant Swingline Exposure of such Swingline Lender, as applicable, with respect to such Defaulting Lender (determined after giving effect to Section 2.11.3 and any Cash Collateral provided by such Defaulting
Lender) in an amount not less than the amount required by Section 2.11. All Cash Collateral shall be maintained in blocked deposit accounts at Administrative Agent. Borrower hereby grants to Administrative Agent, for the benefit of the
applicable Lenders, LC Issuing Banks and Swingline Lenders, and agrees to maintain, a first priority security interest in all such Cash Collateral, deposit accounts and all balances therein, and all other property so provided as collateral pursuant
hereto, and all proceeds of the foregoing, as security for the Obligations for which such Cash Collateral has been provided hereunder. Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over
such accounts. Other than any interest earned on the investment of such deposits, such deposits shall not bear interest, and investments of such deposits shall be made by Administrative Agent at Borrower’s direction, risk and expense;
provided that, at any time a Default has occurred and is continuing, any such investment shall be made at the option of and sole discretion of Administrative Agent (but at Borrower’s risk and expense). Interest or profits, if any, on
such investments shall accumulate in such accounts. Moneys in such accounts shall be applied by Administrative Agent (i) in the case of Cash Collateral provided pursuant to the first sentence above, to reimburse the relevant LC Issuing Bank for
Drawing Payments for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of any contingent Reimbursement Obligations with respect to outstanding Letters of Credit and (ii) in the case of Cash
Collateral provided pursuant to the second sentence above, to the obligations of the relevant Defaulting Lender for which such Cash Collateral has been provided. If Borrower is required to provide an amount of Cash Collateral hereunder as a result
of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid or to any other Obligations hereunder) shall be returned to Borrower, within three Banking Days after all Events of Default have been cured or waived and
all amounts due and payable to Administrative Agent and the Lenders hereunder have been paid. If Borrower is required to provide an amount of Cash Collateral hereunder as a result of a Lender becoming a Defaulting Lender, so long as no Event of
Default shall have occurred and be continuing, such amount (to the extent not 

 
applied as aforesaid or to any other Obligations hereunder) shall be returned to Borrower, within three Banking Days after such Lender ceases to be a Defaulting Lender (as provided in the last
paragraph of Section 2.11) or such Lender has been replaced pursuant to Section 2.9.2. In addition, upon the occurrence and during the continuation of an Event of Default under Section 6.1.3, Administrative Agent (acting at the
direction of the relevant LC Issuing Banks or Required Lenders) shall be entitled to cancel all outstanding Letters of Credit any time at least 30 days after delivery to the LC Beneficiary of each Letter of Credit that will be canceled a written
notice of such intent to cancel, whereupon the LC Beneficiary shall be entitled to draw upon the applicable Letter of Credit in accordance with its terms. 

2.3 Total Commitment and Fees. 

2.3.1 Total Commitment. The total Revolving Credit Exposure of all the Lenders outstanding at any time shall not exceed $125,000,000,
which amount shall be subject to reductions or increases by Borrower pursuant to Section 2.3.2 or 2.3.3 (such amount as so reduced or increased from time to time, the “Total Commitment”). 

2.3.2 Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ written notice to Administrative
Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof, or cancel in its entirety, the unused portion of the Total Commitment.
Notwithstanding anything in this Section 2.3.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if, after giving effect to such reduction or cancellation, (a) the aggregate Revolving Credit Exposure of
all Lenders then outstanding would exceed the Total Commitment or (b) such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent
any Facility Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Facility Fee shall be computed on the basis of the Total Commitment (whether used or unused) as so
reduced. Once reduced or cancelled, the Total Commitment may not be increased or reinstated, provided that the reduction of the Total Commitment shall not preclude a subsequent increase thereof in accordance with Section 2.3.3. Any
reductions pursuant to this Section 2.3.2 shall be applied ratably among the Lenders in accordance with their respective Commitments. 

2.3.3 Increase of Total Commitment. 

2.3.3.1 Requests for Commitment Increase. Borrower may, at any time after the Signing Date, propose that the Total Commitment
hereunder be increased (each such proposed increase being a “Commitment Increase”) by having an existing Lender agree to increase its then existing Commitment (each an “Increasing Lender”) and/or by adding as a new
Lender hereunder any Person which shall agree to provide a Commitment hereunder (each an “Assuming Lender”), in each case with the consent of Administrative Agent, each LC Issuing Bank and each Swingline Lender (such consent,
in each case, not to be unreasonably withheld), by notice to Administrative Agent specifying the amount of the relevant Commitment Increase, the Lender or Lenders providing for such Commitment Increase and the date on which such increase is to be
effective (the “Commitment Increase Date”), which shall be a Banking Day at least three Banking Days after delivery of such notice and 30 days prior to the Maturity Date; provided that: 

(A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing
Lender, as part of such Commitment Increase shall be $1,000,000 or an integral multiple of $1,000,000 in excess thereof; 

 (B) the Total Commitment shall be increased at any time in an aggregate minimum amount of
$5,000,000; 
 (C) the aggregate amount of all Commitment Increases hereunder shall not exceed $75,000,000; 

(D) no Inchoate Default or Event of Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the
proposed Commitment Increase; and 
 (E) each representation and warranty set forth in Article IV shall be true and correct as if made
on and as of the date of the Commitment Increase Date, before and after giving effect thereto and the application of the proceeds therefrom, unless such representation or warranty relates solely to another time, in which event such representation or
warranty shall be true and correct as of such other time. 
 No Lender shall be obligated to become an Increasing Lender hereunder. 

2.3.3.2 Effectiveness of Commitment Increase. Each Commitment Increase (and the increase of the Commitment of each Increasing Lender
and/or the new Commitment of each Assuming Lender, as applicable, resulting therefrom) shall become effective as of the relevant Commitment Increase Date upon receipt by Administrative Agent, on or prior to 9:00 a.m. on such Commitment Increase
Date, of (A) a certificate of a duly authorized officer of Borrower stating that the conditions with respect to such Commitment Increase under this Section 2.3.3.2 have been satisfied and (B) an agreement, in form and substance
satisfactory to Borrower and Administrative Agent, pursuant to which, effective as of such Commitment Increase Date, the Commitment of each such Increasing Lender shall be increased or each such Assuming Lender, as applicable, shall undertake a
Commitment, duly executed by such Increasing Lender or Assuming Lender, as the case may be, and Borrower and acknowledged by Administrative Agent. Upon Administrative Agent’s receipt of a fully executed agreement from each Increasing Lender
and/or Assuming Lender referred to in clause (B) above, together with the certificate referred to in clause (A) above, Administrative Agent shall record the information contained in each such agreement in the Register and give prompt
notice of the relevant Commitment Increase to Borrower and the Lenders (including, if applicable, each Assuming Lender). On each Commitment Increase Date Borrower shall simultaneously (i) prepay in full the outstanding Revolving Loans (if any)
held by the Lenders immediately prior to giving effect to the relevant Commitment Increase, (ii) if Borrower shall have so requested in accordance with this Agreement, borrow new Revolving Loans from all Lenders (including, if applicable, any
Assuming Lender) such that, after giving effect thereto, the Revolving Loans are held ratably by the Lenders in accordance with their respective Commitments (after giving effect to such Commitment Increase) and (iii) pay to the Lenders the
amounts, if any, payable under Section 2.7 in connection with such prepayment. 
 2.3.4 Extension of Maturity Date. 

2.3.4.1 Request for Extension. Borrower may, by notice to Administrative Agent (which shall promptly notify the Lenders) not
more than 60 days and not less than 30 days prior to each anniversary of the Signing Date (such anniversary date, the “Extension Date”), request (each, an “Extension Request”) that the Lenders extend the Maturity
Date then in effect (the “Existing Maturity Date”) for an additional one year, provided that no more than two Extension Requests shall be permitted hereunder. Each Lender, acting in its sole discretion, shall, by notice to Borrower
and Administrative Agent given not later than the 20th day (or such later day as shall be acceptable by Borrower) following the date of Borrower’s notice, advise Borrower whether or not such
Lender agrees to such extension; provided that any Lender that does not so advise Borrower shall be deemed to have denied such Extension Request. The election of any Lender to agree to such extension shall not obligate any other Lender to so agree.

 2.3.4.2 Replacement of Non-extending Lenders. Borrower shall have the right at any time
on, prior to or following the relevant Extension Date to replace any non-extending Lender with, and otherwise add to this Agreement, one or more other lenders (which may include any Lender) (each an
“Additional Commitment Lender”) in each case with the consent of Administrative Agent, each LC Issuing Bank and each Swingline Lender (such consent, in each case, not to be unreasonably withheld). Each Additional Commitment Lender
which has been so approved shall enter into an agreement in form and substance satisfactory to Borrower and Administrative Agent pursuant to which such Additional Commitment Lender shall, effective as of the Extension Date (or the effective date of
such replacement if later), undertake a Commitment and (if not already a Lender under this Agreement) become a Lender hereunder (and, if such Additional Commitment Lender is already a Lender, agree to increase its Commitment hereunder) in the agreed
amount as long as each Non-extending Lender being replaced is paid in full. 
 2.3.4.3 Effectiveness of Extension. If (and only if)
the total Commitments of the Lenders that have agreed in connection with any Extension Request to extend the Existing Maturity Date and the additional Commitments of the Additional Commitment Lenders shall be at least 50% of the Total Commitment in
effect immediately prior to the Extension Date, then, effective as of the Extension Date, the Maturity Date, with respect to the Commitment of each Lender that has agreed to so extend its Commitment and of each Additional Commitment Lender (if any)
shall be extended to the date falling one year after the Existing Maturity Date (or, if such date is not a Banking Day, such Maturity Date as so extended shall be the next preceding Banking Day), and each Additional Commitment Lender which shall
replace any non-extending Lender pursuant to Section 2.3.4.2 shall become a “Lender” for all purposes of this Agreement effective as of the date of such replacement. 

Notwithstanding the foregoing, the extension of the Existing Maturity Date shall not be effective with respect to any Lender unless as of the
relevant Extension Date (i) no Inchoate Default or Event of Default shall have occurred and be continuing and (ii) each representation and warranty set forth in Article IV shall be true and correct as if made on and as of such date,
unless such representation or warranty relates solely to another time, in which event such representation or warranty shall be true and correct as of such other time (and Administrative Agent shall have received a certification to such effect from a
Responsible Officer of Borrower, together with such evidence and other related documents as Administrative Agent may reasonably request with respect to Borrower’s authorization of the extension and their respective obligations hereunder). 

Notwithstanding anything herein to the contrary, with respect to the Commitment of any Lender that has not approved any Extension Request and
has not been replaced as a Lender hereunder pursuant to Section 2.3.4.2, the Maturity Date for such Lender shall remain unchanged (and the Commitment of such Lender (including its obligations in respect of any participation in respect of any
Letters of Credit) shall terminate, and the Revolving Loans made by such Lender shall mature and be payable by Borrower, and all other amounts owing to such Lender hereunder shall be payable, on such date). 

2.4 Fees 
 2.4.1
Facility Fee; Ticking Fee. 
 2.4.1.1 On the third Banking Day after the end of each calendar quarter (where all or any portion of
such calendar quarter occurs on or after the Commitment Effective Date) and on the 

 
Maturity Date (or, if applicable, each Maturity Date) (or, if the Total Commitment is cancelled prior to such date, on the date of such cancellation), Borrower shall pay to Administrative Agent,
for the benefit of the Lenders, accruing from the Commitment Effective Date or the first day of such quarter, as the case may be, a facility fee (the “Facility Fee”) for such quarter (or portion thereof) then ending on the daily
amount (whether used or unused) of the Total Commitment during such quarter (or portion thereof) which shall accrue at the Applicable Rate. 

2.4.1.2 TECO shall pay a ticking fee to the Administrative Agent, for the benefit of the Lenders (the “Ticking Fee”) at a
rate per annum equal to .175% on the daily average amount of the Commitments, commencing and accruing on the 91st day after the Signing Date until the earlier of (1) the date all of the Commitments are terminated in full and (2) the
Commitment Effective Date, which Ticking Fee shall be payable on such earlier date. 
 2.4.2 Letter of Credit Fees. 

2.4.2.1 On the third Banking Day after the end of each calendar quarter (where all or any portion of such calendar quarter occurs on or after
the Commitment Effective Date) commencing on the Commitment Effective Date and ending on the Maturity Date (or, if applicable, each Maturity Date) and on the expiration date of each Letter of Credit, Borrower shall pay to Administrative Agent for
the benefit of the relevant LC Issuing Bank a Letter of Credit fronting fee for such quarter (or portion thereof) then ending on the average daily amount of the LC Exposure with respect to each Letter of Credit issued by such LC Issuing Bank
(excluding any portion thereof attributable to unreimbursed Reimbursement Obligations, if any) which shall accrue at a rate per annum as agreed in writing between Borrower and such LC Issuing Bank, during the period from and including the date of
issuance of such Letter of Credit to but excluding the date on which there ceases to be any LC Exposure with respect to such Letter of Credit. 

2.4.2.2 Borrower agrees to pay each LC Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any
Letter of Credit or processing of drawings thereunder. 
 2.4.2.3 On the third Banking Day after the end of each calendar quarter (where
all or any portion of such calendar quarter occurs on or after the Commitment Effective Date) commencing on the Commitment Effective Date and ending on the Maturity Date (or, if applicable, each Maturity Date), Borrower shall pay to Administrative
Agent for the benefit of the Lenders, a Letter of Credit fee (the “Lenders Letter of Credit Fee”) on the average daily amount of the LC Exposure with respect to each outstanding Letter of Credit (excluding any portion thereof
attributable to unreimbursed Reimbursement Obligations, if any) for such quarter (or portion thereof) which shall accrue at the same Applicable Rate used to determine the interest rate applicable to LIBOR Loans. 

2.4.3 Calculation of Fees. All fees payable under this Section 2.4 shall be computed on the basis of a year of 360 days and shall
be payable for the actual number of days elapsed (including the first day but excluding the last day). 
 2.5 Other Payment Terms.

 2.5.1 Place and Manner. Borrower shall make all payments due to each Lender hereunder to the Administrative Agent’s Office,
for the account of such Lender, to an account specified by Administrative Agent to Borrower for such purpose, in lawful money of the United States and in immediately available funds not later than 12:00 noon on the date on which such payment is due,
without set-off or counterclaim. Any payment received after such time on any day shall be deemed received on the 

 
Banking Day after such payment is received. Administrative Agent shall disburse to each Lender each such payment received by Administrative Agent for such Lender, such disbursement to occur on
the day such payment is received if received by 12:00 noon, otherwise on the next Banking Day. 
 2.5.2 Date. Whenever any payment
due hereunder shall fall due on a day other than a Banking Day, such payment shall be made on the next succeeding Banking Day, and such extension of time shall be included in the computation of interest or fees, as the case may be, without
duplication of any interest or fees so paid in the next subsequent calculation of interest or fees payable. 
 2.5.3 Late Payments.
If any amounts required to be paid by Borrower under this Agreement or the other Credit Facility Documents (including principal or interest payable on any Loan, and any fees or other amounts otherwise payable to Administrative Agent or any Lender)
remain unpaid after such overdue amounts are due, Borrower shall pay interest (including following any Bankruptcy Event with respect to Borrower) on the aggregate, outstanding balance of such amounts from the date due until those amounts are paid in
full at a per annum rate equal to the Default Rate. 
 2.5.4 Net of Taxes, Etc. 

2.5.4.1 Taxes. Subject to each Lender’s compliance with Section 2.5.7, any and all payments to or for the benefit of
Administrative Agent or any Lender by Borrower hereunder or under any other Credit Facility Document shall be made free and clear of and without deduction, setoff or counterclaim of any kind whatsoever and in such amounts as may be necessary in
order that all such payments, after deduction for or on account of any Indemnified Taxes or Other Taxes, shall be equal to the amounts otherwise specified to be paid under this Agreement and the other Credit Facility Documents. If Borrower shall be
required by law to withhold or deduct any Indemnified Taxes or Other Taxes from or in respect of any sum payable hereunder or under any other Credit Facility Document to Administrative Agent or any Lender, (i) the sum payable shall be increased
as may be necessary so that after making all required deductions of Indemnified Taxes or Other Taxes, as applicable (including deductions applicable to additional sums payable under this Section 2.5.4), Administrative Agent or such Lender
receives an amount equal to the sum it would have received had no such deductions been made, (ii) Borrower shall make such deductions and (iii) Borrower shall pay the full amount deducted to the Governmental Authority in accordance with
applicable law, rule or regulation. In addition, Borrower agrees to pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law, rule or regulation. 

2.5.4.2 Indemnity. Borrower shall indemnify each Lender for and hold it harmless against the full amount of Indemnified Taxes and
Other Taxes (including any Indemnified Taxes or Other Taxes imposed by any jurisdiction on amounts payable under this Section 2.5.4) paid by any Lender, or any liability (including penalties, interest and expenses) arising therefrom or with
respect thereto, whether or not such Taxes or Other Taxes were correctly or legally asserted; provided that Borrower shall not be obligated to indemnify any Lender for any penalties, interest or expenses relating to Indemnified Taxes or Other
Taxes arising from such Lender’s gross negligence or willful misconduct. Each Lender agrees to give notice to Borrower of the assertion of any claim against such Lender relating to such Indemnified Taxes or Other Taxes as promptly as is
practicable after being notified of such assertion, and in no event later than 90 days after the principal officer of such Lender responsible for administering this Agreement obtains knowledge thereof; provided that any Lender’s failure
to notify Borrower of such assertion within such 90 day period shall not relieve Borrower of its obligation under this Section 2.5.4 with respect to Indemnified Taxes or Other Taxes, penalties, interest or expenses arising prior to the end of
such period, but shall relieve Borrower of its obligations under this Section 2.5.4 with respect to Indemnified Taxes and Other Taxes, penalties, interest or expenses accruing between the end of such period and such time as Borrower receives
notice from such Lender as provided herein. Payments by Borrower pursuant to this indemnification shall be made within 30 days from the date such Lender makes written demand therefor (submitted through Administrative Agent), which demand shall be
accompanied by a certificate describing in reasonable detail the basis thereof. 

 2.5.4.3 Notice. Within 30 days after the date of any payment of Taxes by Borrower,
Borrower shall furnish to Administrative Agent, at its address referred to in Section 8.1, the original or a certified copy of a receipt evidencing payment thereof or if such receipt is not obtainable, other evidence of such payment by Borrower
reasonably satisfactory to Administrative Agent. Borrower shall compensate each Lender for all reasonable losses and expenses sustained by such Lender as a result of any failure by Borrower to so furnish such copy of such receipt. 

2.5.4.4 FATCA. If a payment made to a Lender under this Agreement or any other Credit Facility Document would be subject to U.S.
Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver
to Borrower and Administrative Agent (each, a “Withholding Agent”), at the time or times prescribed by law and at such time or times reasonably requested by any Withholding Agent, as the case may be, such documentation prescribed by
applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by such Withholding Agent as may be necessary for such Withholding Agent to comply with its obligations
under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.5.4.4, FATCA shall
include any amendments made to FATCA after the date of this Agreement. 
 2.5.4.5 Treatment of Certain Refunds. If any party
determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.5.4 (including additional amounts paid pursuant to this Section 2.5.4),
it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including any
Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such
indemnified party the amount paid to such indemnifying party pursuant to the previous sentence (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such indemnified party is required to repay
such refund to such Governmental Authority. Notwithstanding anything to the contrary in this Section 2.5.4.5, in no event will any indemnified party be required to pay any amount to any indemnifying party pursuant to this Section 2.5.4.5
if such payment would place such indemnified party in a less favorable position (on a net after-Tax basis) than such indemnified party would have been in if the indemnification payments or additional amounts giving rise to such refund had never been
paid. This Section 2.5.4.5 shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the indemnifying party or any other Person.

 2.5.4.6 Survival of Obligations. The obligations of Borrower under this Section 2.5.4 shall survive the termination of this
Agreement and the repayment of the Obligations. 
 2.5.5 Application of Payments. Payments made under this Agreement or the other
Credit Facility Documents shall (a) first be applied to any fees, costs, charges or expenses due and payable to Administrative Agent and the Lenders hereunder or under the other Credit Facility Documents, (b) next to any accrued but unpaid
interest then due and owing and (c) then to outstanding principal then due and payable or otherwise to be prepaid. 

 2.5.6 Failure to Pay Administrative Agent. Unless Administrative Agent shall have received
notice from Borrower at least two Banking Days prior to the date on which any payment is due to the Lenders hereunder that Borrower will not make such payment in full, Administrative Agent may assume that Borrower has made such payment in full to
Administrative Agent on such date and Administrative Agent may, in reliance upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrower shall not
have so made such payment in full to Administrative Agent, such Lender shall repay to Administrative Agent forthwith upon demand such amount distributed to such Lender, together with interest thereon, for each day from the date such amount is
distributed to such Lender until the date such Lender repays such amount to Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by Administrative Agent in accordance with banking industry rules for
interbank compensation. A certificate of Administrative Agent submitted to any Lender with respect to any amounts owing by such Lender under this Section 2.5.6 shall be conclusive in the absence of demonstrable error. 

2.5.7 Withholding Exemption Certificates. Each Lender that is not a United States person within the meaning of Section 7701(a)(30)
of the Code upon becoming a Lender hereunder including any entity to which any Lender grants a participation or otherwise transfers its interest in this Agreement, agrees that it will deliver to Administrative Agent and Borrower two duly completed
copies of United States Internal Revenue Service Form W-8IMY, W-8ECI or W-8BEN or successor applicable form, as the case may be, certifying in each case that such
Lender is not a United States person and, to the extent applicable, is entitled to receive payments under this Agreement with an exemption or reduction of the deduction or withholding of any United States Federal income taxes. Each Lender which
delivers to Borrower and Administrative Agent a Form W-8IMY, W-8ECI or W-8BEN pursuant to the preceding sentence further undertakes to deliver to Borrower and
Administrative Agent further copies of the said letter and Form W-8IMY, W-8ECI or W-8BEN, or successor applicable forms, or other manner of certification or
procedure, as the case may be, on or before the date that any such letter or form expires or becomes obsolete or within a reasonable time after gaining knowledge of the occurrence of any event requiring a change in the most recent letter and forms
previously delivered by it to Borrower, and such extensions or renewals thereof as may reasonably be requested by Borrower, certifying in the case of a Form W-8IMY, W-8ECI or W-8BEN that such Lender is not a United States person and, to the extent applicable, is entitled to receive payments under this Agreement with an exemption or reduction of the deduction or withholding of any United
States Federal income taxes, unless in any such cases an event (including any change in any treaty, law or regulation) has occurred prior to the date on which any such delivery would otherwise be required which renders all such forms inapplicable or
which would reasonably prevent a Lender from duly completing and delivering any such letter or form with respect to it and such Lender advises Borrower that it is not capable of receiving payments with an exemption or reduction of any deduction or
withholding of United States Federal income tax, and in the case of Form W-8IMY, W-8ECI or W-8BEN, establishing an exemption from United States backup withholding
tax. In the case of a Lender entitled to an exemption from the withholding of United States federal income tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio interest,” such Lender shall also deliver
to Administrative Agent and Borrower with its Form W-8IMY, W-8ECI and W-8BEN or successor applicable form, as the case may be, a certificate, or certificates, to the effect that such Lender (or in the case of a Form W-8IMY, such Lender’s
beneficial owners to the extent applicable) is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of Borrower within the meaning of Section 881(c)(3)(B) of
the Code and (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code. Each Lender providing such a certificate shall provide a new certificate at any time thereafter when a change in such
Lender’s circumstances renders an existing certificate obsolete or invalid or requires a new certificate to be provided, and within fifteen Banking Days after a reasonable written request of Administrative Agent or Borrower from time to time;
provided that it shall not be a breach of this Section 2.5.7 if such Lender is unable to provide such certificate as a result of a Change of Law after the date it becomes a Lender hereunder. Each Lender that is a United States person within the

 
meaning of Section 7701(a)(30) of the Code shall provide two duly completed copies of United States Internal Revenue Service Form W-9 or
successor applicable form, as the case may be, at the times specified for the delivery of forms under this Section 2.5.7 with respect to Forms W-8IMY, W-8ECI and W-8BEN or successor applicable form, as the case may be. Borrower shall not be
obligated, however, to pay any additional amounts in respect of United States Federal income tax pursuant to Section 2.5.4.1 (or make an indemnification payment pursuant to Section 2.5.4.2) to any Lender (including any entity to which any
Lender sells, assigns, grants a participation in, or otherwise transfers its rights under this Agreement) if the obligation to pay such additional amounts (or such indemnification) would not have arisen but for a failure of such Lender to comply
with its obligations under this Section 2.5.7. 
 2.5.8 Certain Deductions by Administrative Agent. If any Lender shall fail to
make any payment required to be made by it pursuant to Section 2.2.7, Section 2.5.6, Section 2.10.3 or Section 7.5, then Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof,
(a) apply any amounts thereafter received by Administrative Agent for the account of such Lender for the benefit of Administrative Agent, the Swingline Lenders or the LC Issuing Banks to satisfy such Lender’s obligations to any of them, as
applicable, under such Section until all such unsatisfied obligations are fully paid, and/or (b) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender under any
such Section, in the case of each of clauses (i) and (ii) above, in any order as determined by Administrative Agent in its discretion. 

2.6 Pro Rata Treatment. 

2.6.1 Borrowings, Payments, Etc. Except as otherwise provided herein (including in Section 2.3.3), (a) each Revolving
Borrowing shall be made or allocated among the Lenders pro rata according to their respective Proportionate Shares then in effect and (b) each payment of principal of or interest on the Revolving Loans, Facility Fees and Lenders Letter
of Credit Fees shall be shared among the Lenders pro rata in accordance with the amounts of such principal, interest or fees, as the case may be, then due and payable to them. 

2.6.2 Sharing of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any
right of set-off, or otherwise) hereunder in excess of its ratable share of payments in accordance with Section 2.6.1, such Lender shall forthwith purchase from the other Lenders to which such payments were required to be made such
participations in the Loans or participations in unreimbursed Reimbursement Obligations as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided that (i) if any such
participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the
provisions of this Section 2.6.2 shall not be construed to apply to any payment made by Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of
or sale of a participation in any of its Loans or participations in Letters of Credit to any assignee or participant, other than to Borrower or any subsidiary or Affiliate thereof (as to which the provisions of this Section 2.6.2 shall apply).
Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 2.6.2 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to
such participation as fully as if such Lender were the direct creditor of Borrower in the amount of such participation. 
 2.7 Change of
Circumstances. 
 2.7.1 Inability to Determine Rates. If, on or before the first day of any Interest Period for any LIBOR Loans,
(a) Administrative Agent determines that the LIBO Rate for such Interest Period cannot 

 
be adequately and reasonably determined due to the unavailability of funds in or other circumstances affecting the London interbank market, or (b) the Required Lenders shall advise
Administrative Agent that (i) the rates of interest for such LIBOR Loans do not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loans or (ii) deposits in Dollars in the London interbank market are not
available to such Lenders (as conclusively certified by each such Lender in good faith in writing to Administrative Agent and to Borrower) in the ordinary course of business in sufficient amounts to make and/or maintain its LIBOR Loans,
Administrative Agent shall immediately give notice of such condition to Borrower. After the giving of any such notice and until Administrative Agent shall otherwise notify Borrower that the circumstances giving rise to such condition no longer
exist, Borrower’s right to request the making of or conversion to, and the Lenders’ obligations to make or convert to, LIBOR Loans shall be suspended. Any LIBOR Loans outstanding at the commencement of any suspension shall be converted at
the end of the then current Interest Period for such Loans into Base Rate Loans, as applicable, unless such suspension has then ended. 

2.7.2 Illegality. If any Change of Law shall make it unlawful or impossible for any Lender to make or maintain any LIBOR Loan, such
Lender shall immediately notify Administrative Agent and Borrower of such Change of Law. Upon receipt of such notice, (a) Borrower’s right to request the making of or conversion to, and the Lenders’ obligations to make or convert to,
LIBOR Loans, as the case may be, shall be suspended for so long as such condition shall exist, and (b) Borrower shall, at the request of such Lender, either (i) pursuant to Section 2.1.3, convert any then outstanding LIBOR Loans into
Base Rate Loans at the end of the current Interest Periods for such Loans, or (ii) immediately repay or convert (at Borrower’s option) LIBOR Loans into Base Rate Loans if such Lender shall notify Borrower that such Lender may not lawfully
continue to fund and maintain such Loans as LIBOR Loans. Any conversion or prepayment of LIBOR Loans made pursuant to the preceding sentence prior to the last day of an Interest Period for such Loans shall be deemed a prepayment thereof for purposes
of Section 2.8. 
 2.7.3 Increased Costs. If any Change of Law shall: 

2.7.3.1 impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the
account of, or credit extended or participated in by, any Lender or any LC Issuing Bank (without duplication of any reserve requirement included within the applicable interest rate through the definition of “Reserve Requirement”); or 

2.7.3.2 subject any Lender or any LC Issuing Bank to any tax of any kind whatsoever with respect to this Agreement, any Letter of Credit, any
participation in a Letter of Credit or any LIBOR Loan made by it, or change the basis of taxation of payments to such Lender or LC Issuing Bank in respect thereof (except for (A) Indemnified Taxes or Other Taxes covered by Section 2.5.4
and (B) the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or LC Issuing Bank); or 
 2.7.3.3
impose on any Lender or any LC Issuing Bank or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or LIBOR Loans made by such Lender or any Letter of Credit or participation therein (without
duplication of any reserve requirement included within the applicable interest rate through the definition of “Reserve Requirement”); 
 and the
result of any of the foregoing shall be to increase the cost to such Lender or LC Issuing Bank of making, converting to, continuing or maintaining any LIBOR Loan or of maintaining its obligation to make any such Loan, or to increase the cost to such
Lender or LC Issuing Bank of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit) other than any cost related to Taxes or to reduce the amount of any sum
received or receivable by such Lender or LC Issuing Bank hereunder (whether of principal, interest or otherwise) by an amount 

 
deemed by such Lender or LC Issuing Bank to be material, then Borrower will pay to such Lender or LC Issuing Bank, as the case may be, within 30 days after its demand, such additional amount or
amounts as will compensate such Lender or LC Issuing Bank for such additional costs incurred or reduction suffered. A certificate setting forth in reasonable detail the amount of such increased costs or reduced amounts and the basis for
determination of such amount, submitted by such Lender or LC Issuing Bank to Borrower, shall, in the absence of demonstrable error, be conclusive and binding on Borrower for purposes of this Agreement. 

2.7.4 Capital Requirements. If any Lender or any LC Issuing Bank determines that any Change of Law regarding capital or liquidity
requirements has or would have the effect of reducing the rate of return on such Lender’s or LC Issuing Bank’s capital or on the capital of such Lender’s or LC Issuing Bank’s holding company, if any, as a consequence of this
Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by any LC Issuing Bank, to a level below that which such Lender or LC
Issuing Bank or such Lender’s or LC Issuing Bank’s holding company could have achieved but for such Change of Law (taking into consideration such Lender’s or LC Issuing Bank’s policies and the policies of such Lender’s or LC
Issuing Bank’s holding company with respect to capital adequacy), then from time to time Borrower shall pay to such Lender or LC Issuing Bank, as the case may be, within 30 days after its demand such additional amount or amounts as will
compensate such Lender or LC Issuing Bank or such Lender’s or LC Issuing Bank’s holding company for any such reduction suffered. A certificate of such Lender or such LC Issuing Bank, setting forth in reasonable detail the computation of
any such amount, submitted by such Lender or LC Issuing Bank to Borrower, shall, in the absence of demonstrable error, be conclusive and binding on Borrower for purposes of this Agreement. 

2.7.5 Delay in Request. Failure or delay on the part of any Lender or LC Issuing Bank to demand compensation pursuant to this
Section 2.7 shall not constitute a waiver of such Lender’s or LC Issuing Bank’s right to demand such compensation; provided that Borrower shall not be required to compensate a Lender or an LC Issuing Bank pursuant to this
Section 2.7 for any costs or reductions incurred more than 180 days prior to the date that such Lender or LC Issuing Bank notifies Borrower of the event giving rise to such costs or reductions and of such Lender’s or LC Issuing Bank’s
intention to claim compensation therefor; provided further that, if the event giving rise to such costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive
effect thereof. 
 2.8 Funding Losses. 

If Borrower shall (a) repay or prepay any LIBOR Loans on any day other than the last day of an Interest Period for such Loans (including
as a result of an assignment effected pursuant to Section 2.9.2), (b) fail to borrow any LIBOR Loans in accordance with a Notice of Revolving Borrowing delivered to Administrative Agent (whether as a result of the failure to satisfy any
applicable conditions or otherwise) after such notice has become irrevocable, (c) fail to convert any Base Rate Loans into LIBOR Loans in accordance with a Notice of Conversion of Loan Type delivered to Administrative Agent (whether as a result
of the failure to satisfy any applicable conditions or otherwise) after such notice has become irrevocable, (d) fail to continue a LIBOR Loan in accordance with a Confirmation of Interest Period Selection after such notice of confirmation has
become irrevocable or (e) fail to make any prepayment in accordance with any notice of prepayment delivered to Administrative Agent, Borrower shall, within 30 days after demand by any Lender (other than in the case of the costs covered by the
parenthetical clause under clause (a) above, which shall be paid in accordance with Section 2.9.2), reimburse such Lender for all reasonable costs and losses incurred by such Lender (“Liquidation Costs”) due to such
payment, prepayment or failure. Borrower understands that such costs and losses may include losses incurred by a Lender as a result of funding and other contracts entered into by such Lender to fund LIBOR Loans (other

 
than non-receipt of the Applicable Rate in respect of the interest rate on LIBOR Loans). Each Lender demanding payment under this Section 2.8 shall deliver to Borrower a certificate setting
forth in reasonable detail the amount of costs and losses for which demand is made. Such a certificate so delivered to Borrower shall, in the absence of demonstrable error, be conclusive and binding as to the amount of such loss for purposes of this
Agreement. 
 2.9 Alternate Office, Minimization of Costs. 

2.9.1 Minimization of Costs. To the extent reasonably possible, each Lender shall designate an alternative Lending Office with respect
to its LIBOR Loans and otherwise take any reasonable actions to reduce any liability of Borrower to any Lender under Sections 2.5.4, 2.7.3, 2.7.4 or 2.8, or to avoid the unavailability of any Type of Loans under Section 2.7.2 so long as
(in the case of the designation of an alternative Lending Office) such Lender, in its sole discretion, does not determine that such designation is disadvantageous to such Lender. 

2.9.2 Replacement Rights. If and with respect to each occasion that a Lender (i) makes a demand for compensation pursuant to
Section 2.5.4, 2.7.3 or 2.7.4, (ii) is unable for a period of three consecutive months to fund LIBOR Loans pursuant to Section 2.7.2 or such Lender wrongfully fails to fund a Loan, (iii) becomes a Defaulting Lender or
(iv) has failed to consent to any proposed waiver or amendment with respect to this Agreement that requires the consent of all the Lenders or all the Lenders directly affected and with respect to which the Required Lenders shall have granted
their consent, Borrower may, at its sole expense, upon at least five Banking Days’ prior irrevocable written notice to the affected Lender and Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in Section 7.13.1), all its interests, rights and obligations under this Agreement to an eligible assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment); provided that Borrower shall have received the prior written consent of Administrative Agent, each Swingline Lender and each LC Issuing Bank with respect to such assignee to the extent consent would be required under
the terms of Section 7.13.1 in connection with an assignment to such assignee (which consent, in each case, shall not be unreasonably withheld). Such replacement Lender shall upon the effective date of replacement purchase the Obligations owed
to such replaced Lender for the aggregate amount thereof and shall thereupon and for all purposes become a “Lender” hereunder. Such notice from Borrower shall specify an effective date for the replacement of such Lender’s Loans and
Commitments, which date shall not be later than the 14th day after the day such notice is given. On the effective date of any replacement of a Lender’s Loans and Commitments and Obligations
pursuant to this Section 2.9.2, Borrower shall pay to Administrative Agent for the account of such Lender (a) any fees due to such Lender to the date of such replacement; (b) the principal of and accrued interest on the principal
amount of outstanding Loans and any funded participations in Letters of Credit and Swingline Loans held by such Lender to the date of such replacement (such amount to be represented by the purchase of the Obligations of such replaced Lender by the
replacing Lender and not as a prepayment of such Loans or other amounts), and (c) the amount or amounts due to such Lender pursuant to each of Sections 2.5.4, 2.7.3 or 2.7.4, as applicable, and any other amount then payable hereunder to
such Lender. In addition, if the replacement Lender was not previously a “Lender” hereunder, Borrower shall pay to Administrative Agent an administrative fee of $3,500. Borrower will remain liable to such replaced Lender for any
Liquidation Costs that such Lender may sustain or incur as a consequence of the purchase of such Lender’s Loans (unless such Lender has defaulted on its obligation to fund a Loan hereunder). Upon the effective date of the purchase of any
Lender’s Loans and termination of such Lender’s Commitments pursuant to this Section 2.9.2, such Lender shall cease to be a Lender hereunder. No such replacement of such Lender’s Commitments and the purchase of such Lender’s
Loans pursuant to this Section 2.9.2 shall affect (i) any liability or obligation of Borrower or any other Lender to such replaced Lender, or any liability or obligation of such replaced Lender to Borrower or any other Lender, which
accrued on or prior to the date of such replacement or (ii) such replaced Lender’s rights 

 
hereunder in respect of any such liability or obligation. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver or otherwise, the
circumstances entitling Borrower to require such assignment and delegation cease to apply. 
 2.9.3 Alternate Office. Any Lender may
designate a Lending Office other than that set forth in its Administrative Questionnaire and may assign all of its interests under the Credit Facility Documents to such Lending Office, provided that such designation and assignment do not at
the time of such designation and assignment increase the reasonably foreseeable liability of Borrower under Sections 2.5.4, 2.7.3 or 2.7.4, or make an interest rate option unavailable pursuant to Section 2.7.2. 

2.10 Swingline Loans. 

2.10.1 Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, each Swingline Lender agrees to make
Swingline Loans to Borrower from time to time during the Availability Period in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding the
Swingline Sublimit or (ii) the total Revolving Credit Exposure of all the Lenders exceeding the Total Commitment; provided that no Swingline Lender shall be required to make a Swingline Loan to refinance an outstanding Swingline Loan or
to finance the reimbursement of a Reimbursement Obligation in respect of a Letter of Credit. Within the foregoing limits and subject to the terms and conditions set forth herein, Borrower may borrow, prepay and reborrow Swingline Loans. Immediately
upon the making of a Swingline Loan by a Swingline Lender, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from such Swingline Lender a participation in such Swingline Loan in an amount equal to such
Lender’s Proportionate Share of the amount of such Swingline Loan. 
 2.10.2 Notice of Swingline Loans by Borrower. Borrower
shall request a Swingline Loan by delivering to Administrative Agent a written notice in the form of Exhibit F, appropriately completed (a “Notice of Swingline Borrowing”) before 12:00 noon on the Banking Day of any Swingline
Borrowing. Each Notice of Swingline Borrowing shall be irrevocable and shall specify the Swingline Lender from which such Swingline Borrowing shall be made, the requested date (which shall be a Banking Day) and the amount of the requested Swingline
Loan. Each Swingline Loan shall be in the minimum amount of $500,000 or an integral multiple of $100,000 in excess thereof. Administrative Agent will promptly advise the relevant Swingline Lender of a Notice of Swingline Borrowing received from
Borrower. Subject to the terms and conditions set forth herein, each Swingline Lender shall make each Swingline Loan available to Borrower, in immediately available funds by wire transfer thereof in accordance with instructions provided to (and
reasonably acceptable to) such Swingline Lender, not later than 4:00 p.m., New York City time, on the requested date of such Swingline Loan. 

2.10.3 Refinancing of Swingline Loans. 

2.10.3.1 Each Swingline Lender at any time in its sole and absolute discretion may request, on behalf of Borrower (which hereby irrevocably
authorizes each Swingline Lender to so request on its behalf), that, subject to the terms and conditions set forth herein (including the conditions set forth in Section 3.2), each Lender make a Base Rate Loan in an amount equal to such
Lender’s Proportionate Share of the amount of Swingline Loans made by such Swingline Lender then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Notice of Revolving Borrowing for purposes
hereof) and in accordance with the requirements of Section 2.1.1, without regard to the minimum and multiples specified therein; provided that such request shall in no event be made earlier than the Swingline Loan Maturity Date for the
relevant Swingline Loan. Each Swingline Lender shall furnish Borrower with a copy of such Notice of Revolving Borrowing promptly after delivering such notice to Administrative Agent. Each Lender shall make an amount equal to its Proportionate Share
of the amount 

 
specified in such Notice of Revolving Borrowing available to Administrative Agent in immediately available funds for the account of such Swingline Lender at Administrative Agent’s Office not
later than 2:00 p.m. (New York City time) on the day specified in such Notice of Revolving Borrowing, whereupon, subject to Section 2.10.3.2, each Lender that so makes funds available shall be deemed to have made a Base Rate Loan to
Borrower in such amount. 
 2.10.3.2 If for any reason any Swingline Loan cannot be refinanced by such a Revolving Borrowing in accordance
with Section 2.10.3.1, the request for Base Rate Loans submitted by such Swingline Lender as set forth herein shall be deemed to be a request by such Swingline Lender that each of the Lenders fund its participation in the relevant Swingline
Loan and each Lender’s payment to Administrative Agent for the account of such Swingline Lender pursuant to Section 2.10.3.1 shall be deemed payment in respect of such participation. Administrative Agent shall notify Borrower of any
participations in any Swingline Loan funded pursuant to this Section 2.10.3.2, and thereafter payments in respect of such Swingline Loan (to the extent of such funded participations) shall be made to Administrative Agent for the account of the
relevant Lenders. 
 2.10.3.3 If any Lender fails to make available to Administrative Agent for the account of any Swingline Lender any
amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.10.3 by the time specified in this Section 2.10.3.3, such Swingline Lender shall be entitled to recover from such Lender (acting through
Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Swingline Lender at a rate per annum equal to the greater of
the Federal Funds Effective Rate from time to time in effect and a rate determined by such Swingline Lender in accordance with banking industry rules on interbank compensation, plus any reasonable administrative, processing or similar fees
customarily charged by such Swingline Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Revolving Loan included in the relevant
Revolving Borrowing or funded participation in the relevant Swingline Loan, as the case may be. A certificate of a Swingline Lender submitted to any Lender (through Administrative Agent) with respect to any amounts owing under this
Section 2.10.3.3 shall be conclusive absent manifest error. 
 2.10.3.4 Each Lender’s obligation to purchase and fund
participations in Swingline Loans pursuant to this Section 2.10.3 shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such
Lender may have against any Swingline Lender, Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, (C) any adverse change in the condition (financial or otherwise) of Borrower,
(D) any breach of this Agreement or any other Credit Facility Document by Borrower or any other Lender or (E) any other occurrence, event or condition, whether or not similar to any of the foregoing, and the payment of each such obligation
shall be made without any offset, abatement, withholding or reduction whatsoever. No such funding of participations shall relieve or otherwise impair the obligation of Borrower to repay Swingline Loans, together with interest as provided herein.

 2.10.4 Repayment of Participations. 

2.10.4.1 At any time after any Lender has purchased and funded a participation in a Swingline Loan, if any Swingline Lender receives any
payment on account of such Swingline Loan, such Swingline Lender will promptly remit such Lender’s Proportionate Share of such payment to Administrative Agent (appropriately adjusted, in the case of interest payments, to reflect the period of
time during which such Lender’s participation was funded) in like funds as received by such Swingline Lender, and any such amounts received by Administrative Agent will be remitted by Administrative Agent to the Lenders that shall have funded
their participations pursuant to Section 2.10.3.2 to the extent of their interests therein. 

 2.10.4.2 If any payment received by any Swingline Lender in respect of principal or interest on
any Swingline Loan is required to be returned by such Swingline Lender under any of the circumstances described in Section 8.18 (including pursuant to any settlement entered into by such Swingline Lender in its discretion), each Lender shall
pay to Administrative Agent for the account of such Swingline Lender its Proportionate Share thereof on demand of Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned at a rate per annum equal
to the Federal Funds Effective Rate from time to time in effect. Administrative Agent will make such demand upon the request of such Swingline Lender. The obligations of the Lenders under this Section 2.10.4.2 shall survive the payment in full
of the Obligations and the termination of this Agreement. 
 2.10.5 Interest for Account of Swingline Lenders. Until each Lender
funds its Base Rate Loan or participation pursuant to this Section to refinance such Lender’s Proportionate Share of any Swingline Loan made by any Swingline Lender, interest in respect of such Lender’s share thereof shall be solely for
the account of such Swingline Lender. 
 2.11 Defaulting Lenders. 

Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions
shall apply for so long as such Lender is a Defaulting Lender: 
 2.11.1 Facility Fees shall cease to accrue on the Commitment of such
Defaulting Lender pursuant to Section 2.4.1 (except to the extent allocable to (i) the outstanding principal amount of the Revolving Loans funded by it and (ii) its outstanding Swingline Exposure and/or LC Exposure for which such
Defaulting Lender has provided Cash Collateral to the relevant Swingline Lender or LC Issuing Bank hereunder); 
 2.11.2 the Commitment and
Revolving Credit Exposure of such Defaulting Lender shall not be included in determining whether the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to
Section 7.9), except that (i) the Commitment(s) of any Defaulting Lender may not be increased or extended, or the maturity of any of its Loans may not be extended, the rate of interest on any of its Loans may not be reduced and the
principal amount of any of its Loans may not be forgiven, in each case without the consent of such Defaulting Lender and (ii) any amendment, waiver or consent requiring the consent of all the Lenders or each affected Lender that by its terms
affects any Defaulting Lender more adversely than the other affected Lenders shall require the consent of such Defaulting Lender; 
 2.11.3
if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a Defaulting Lender then: 
 (i) all or any
part of the Swingline Exposure and LC Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting Lenders in accordance with their respective Proportionate Shares but only to the extent the sum of all non-Defaulting
Lenders’ Revolving Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all non-Defaulting Lenders’ Commitments; provided that each such reallocation shall be given
effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Inchoate Default or Event of Default exists; 

 (ii) if the reallocation described in clause (i) above cannot, or can only
partially, be effected, Borrower shall within one Banking Day following notice by Administrative Agent (x) first, prepay such Swingline Exposure and (y) second, Cash Collateralize for the benefit of the LC Issuing Banks only
Borrower’s obligations corresponding to such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.2.10 for so long
as such LC Exposure is outstanding; 
 (iii) if Borrower Cash Collateralizes any portion of such Defaulting Lender’s LC
Exposure pursuant to clause (ii) above, Borrower shall not be required to pay any Letter of Credit fees to such Defaulting Lender pursuant to Section 2.4.2 with respect to such Defaulting Lender’s LC Exposure during the period such
Defaulting Lender’s LC Exposure is Cash Collateralized; 
 (iv) if the LC Exposure of the non-Defaulting Lenders is
reallocated pursuant to clause (i) above, then the Letter of Credit fees payable to the Lenders pursuant to Section 2.4.2 shall be adjusted in accordance with such non-Defaulting Lenders’ Proportionate Shares; and 

(v) if all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated nor Cash Collateralized pursuant
to clause (i) or (ii) above, then, without prejudice to any rights or remedies of any LC Issuing Bank or any Lender hereunder, all Facility Fees that otherwise would have been payable to such Defaulting Lender pursuant to
Section 2.4.1 (solely with respect to the portion of such Defaulting Lender’s Commitment that was utilized by such LC Exposure) and Letter of Credit fees payable under Section 2.4.2 with respect to such Defaulting Lender’s LC
Exposure shall be payable to the relevant LC Issuing Bank until and to the extent that such LC Exposure is reallocated and/or Cash Collateralized; and 

2.11.4 so long as such Lender is a Defaulting Lender, no Swingline Lender shall be required to fund any Swingline Loan and no LC Issuing Bank
shall be required to issue, amend or increase any Letter of Credit, unless such Swingline Lender or LC Issuing Bank, as the case may be, is satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Exposure will be
100% covered by the Commitments of the non-Defaulting Lenders and/or Cash Collateral will be provided by Borrower in accordance with Section 2.2.10, and participating interests in any newly made Swingline Loan or any newly issued or increased
Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.2.7 (and such Defaulting Lender shall not participate therein). 

If (i) a bankruptcy event (as such term is defined in clause (d) of the definition of “Defaulting Lender”) with respect to
any Person as to which any Lender is, directly or indirectly, a subsidiary shall occur following the date hereof and for so long as such event shall continue or (ii) any Swingline Lender or any LC Issuing Bank has a good faith belief that any
Lender has defaulted in fulfilling its obligations under one or more other agreements in which such Lender commits to extend credit, no Swingline Lender shall be required to fund any Swingline Loan and no LC Issuing Bank shall be required to issue,
amend or increase any Letter of Credit, unless Borrower shall have Cash Collateralized such Lender’s Swingline Exposure or LC Exposure, as the case may be, pursuant to Section 2.11.3 or otherwise such Swingline Lender or such LC Issuing
Bank, as the case may be, shall have entered into arrangements with Borrower or such Lender, satisfactory to such Swingline Lender or such LC Issuing Bank, as the case may be, to defease any risk to it in respect of such Lender hereunder. 

 In the event that Administrative Agent, Borrower, the Swingline Lenders and the LC Issuing Banks
each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s
Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with
its Proportionate Share. 
 2.12 Designation of NMG as Borrower. TECO and NMG shall on the Commitment Effective Date designate NMG as
the Borrower hereunder by delivering to Administrative Agent (which shall promptly deliver counterparts thereof to each Lender) a duly executed Joinder and Release agreement substantially in the form of Exhibit I (the “Joinder and Release
Agreement”), whereupon and upon the satisfaction of the other conditions precedent set forth in Section 3.2, (i) NMG shall automatically become the Borrower for all purposes of this Agreement and the other Credit Facility
Documents, and (ii) TECO shall cease to be a party to this Agreement and shall have no further rights or obligations hereunder. 

ARTICLE III 
 CONDITIONS PRECEDENT

 3.1 Conditions Precedent to Signing Date. The occurrence of the Signing Date is subject to the satisfaction of the following
conditions precedent: 
 3.1.1 Credit Facility Documents. Delivery to Administrative Agent of executed originals of each Credit
Facility Document (other than the Joinder and Release Agreement) in which the Borrower and the Administrative Agent have entered into (or written evidence satisfactory to Administrative Agent of the execution thereof by the parties thereto (which
may include fax or electronic transmission of a signed signature page thereto)). 
 3.2 Conditions Precedent to Commitment Effective
Date. The occurrence of the Commitment Effective Date is subject to the satisfaction of the following conditions precedent: 
 3.2.1
Acquisition. Delivery of written evidence satisfactory to Administrative Agent of consummation of the Acquisition. 
 3.2.2 No
Material Adverse Effect. As of the Commitment Effective Date no material adverse change in the business, property, results of operation or financial condition of NMG and its Subsidiaries has occurred since December 31, 2012. 

3.2.3 Joinder and Release Agreement. Delivery to Administrative Agent of executed originals of the Joinder and Release Agreement (or
written evidence satisfactory to the Administrative Agent of the execution thereof by the parties thereto (which may include fax or electronic transmission of a signed signature page thereto)). 

3.2.4 Resolutions. Delivery to Administrative Agent of a copy of one or more resolutions or other authorizations of NMG in form and
substance reasonably satisfactory to Administrative Agent and certified by an appropriate authorized officer of NMG as being in full force and effect on the Commitment Effective Date, authorizing the execution, delivery and performance of this
Agreement, the Joinder and Release Agreement and the other Credit Facility Documents and any instruments or agreements required hereunder or thereunder to which NMG is a party. 

 3.2.5 Incumbency. Delivery to Administrative Agent of a certificate in form and substance
reasonably satisfactory to Administrative Agent, from NMG signed by the appropriate authorized officer and dated the Commitment Effective Date, as to the incumbency of the natural persons authorized to execute and deliver the Joinder and Release and
each other Credit Facility Document and any instruments or agreements required hereunder or thereunder to which NMG is a party. 
 3.2.6
Legal Opinions. Delivery to Administrative Agent of legal opinions of in-house and/or external counsel to NMG, and counsel to the Administrative Agent, in substantially the forms of Exhibits H-1, H-2, and H-3, respectively. 

3.2.7 Financial Statements. The Lenders shall have received the most recent annual audited financial statements or Form 10-K from Borrower and, to the extent obtainable, the most recent quarterly financial statements or Form 10-Q of Borrower, with certificates from the
appropriate Responsible Officer thereof, stating that no material adverse change in the consolidated assets, liabilities, operations or financial condition of Borrower has occurred from those set forth in the most recent financial statements or the
balance sheet, as the case may be, so provided to Administrative Agent. 
 3.2.8 Accuracy of Representations and Warranties; No
Defaults. As of the Commitment Effective Date, the conditions set forth in Sections 3.3.1 and 3.3.2 shall be satisfied. 
 3.2.9
Certificate of Borrower. Administrative Agent shall have received a certificate, dated as of the Commitment Effective Date, signed by a Responsible Officer of Borrower, in substantially the form of Exhibit G. 

3.2.10 Payment of Fees. All amounts required to be paid by Borrower to the Lenders, Administrative Agent and the Arrangers in
connection with the execution and delivery of the Credit Facility Documents, and all taxes, fees and other costs payable in connection with the execution and delivery of the documents and instruments referred to in this Section 3.1 (or
incorporated herein by reference) shall have been paid in full. 
 3.2.11 Termination of the Existing Credit Agreement.
Administrative Agent shall have received evidence, in form and substance satisfactory to Administrative Agent, that (i) all amounts under the Existing Credit Agreement are paid in full and (ii) all commitments of the lenders thereunder
have been terminated; provided that, by its execution hereof, each Lender that is a lender party to the Existing Credit Agreement hereby waives the provisions of the Existing Credit Agreement requiring prior notice by Borrower with respect to
the prepayment of loans and/or the termination of the commitments thereunder as of the Commitment Effective Date. 
 Administrative Agent
shall notify Borrower and the Lenders of the Commitment Effective Date, and such notice shall be conclusive and binding. 
 3.3
Conditions Precedent to Each Extension of Credit. 
 The obligation of the Lenders to make each Loan and the obligation of any LC
Issuing Bank to issue, extend or increase the Stated Amount of any Letter of Credit is subject to the prior satisfaction of each of the following conditions: 

3.3.1 Accuracy of Representations and Warranties. Each representation and warranty set forth in Article IV (excluding, for any Loan
made or any Letter of Credit issued, extended or increased after the Commitment Effective Date, Section 4.4 and the last sentence of Section 4.6) shall be true and correct as if made on and as of the date of such Borrowing or issuance,
extension or increase in the Stated 

 
Amount of a Letter of Credit, as the case may be, before and after giving effect thereto and the application of the proceeds therefrom, unless such representation or warranty relates solely to
another time, in which event such representation or warranty shall be true and correct as of such other time. 
 3.3.2 No Defaults.
No Event of Default or Inchoate Default shall have occurred and is continuing or will result from such Borrowing or issuance, extension or increase in the Stated Amount of a Letter of Credit, as the case may be. 

3.3.3 Notice of Borrowing. Borrower shall have delivered to Administrative Agent a Notice of Revolving Borrowing meeting the
requirements of Section 2.1.1.2, a Notice of LC Activity meeting the requirements of Section 2.2.3 or a Notice of Swingline Borrowing meeting the requirements of Section 2.10.2, as applicable. 

ARTICLE IV 
 REPRESENTATIONS AND
WARRANTIES 
 Borrower makes the following representations and warranties to and in favor of Administrative Agent and the Lenders as of the
Commitment Effective Date and, unless otherwise expressly limited to the Commitment Effective Date, as of the date of each Borrowing and each issuance, extension or increase in the Stated Amount of a Letter of Credit (and all of these
representations and warranties shall survive the Commitment Effective Date, the issuance of any Letters of Credit and the making of the Loans): 

4.1 Corporate Existence and Business. Borrower is a corporation duly organized and validly existing in good standing under the laws of
its jurisdiction of incorporation and is duly qualified to do business and is in good standing in each jurisdiction in which such qualification is necessary to execute, deliver and perform this Agreement and each other Credit Facility Document to
which it is or is to become a party. 
 4.2 Power and Authorization; Enforceable Obligations. Borrower has full power and authority
and the legal right to execute, deliver and perform this Agreement and each other Credit Facility Document to which it is or is to become a party and to take all action as may be necessary to complete the transactions contemplated hereunder and
thereunder. Borrower has taken all necessary corporate action to authorize the execution, delivery and performance of this Agreement and each other Credit Facility Document to which it is or is to become a party to complete the transactions
contemplated hereby. No consent or authorization of, filing with, or other act by or in respect of any other Person or Governmental Authority is required in connection with the execution, delivery or performance by Borrower, or the validity or
enforceability as to Borrower, of this Agreement and each other Credit Facility Document to which it is or is to become a party, except such consents or authorizations or filings or other acts as have already been obtained or where the failure to
obtain such consent or authorization could not reasonably be expected to have a Material Adverse Effect. This Agreement and each other Credit Facility Document to which Borrower is a party have been duly executed and delivered by Borrower and
constitute, and each other Credit Facility Document to which it is to become a party will upon execution and delivery thereof by Borrower and the other parties thereto (if any) constitute, a legal, valid and binding obligation of Borrower
enforceable against it in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the right of creditors generally and by general principles of
equity. 
 4.3 No Legal Bar. The execution, delivery and performance by Borrower of this Agreement and each other Credit Facility
Document to which it is or is to become a party to complete the transactions contemplated hereby and the making by Borrower of any payments hereunder or under any other Credit Facility Document to which it is a party will not violate any applicable
law or any material contractual 

 
obligation of Borrower and its subsidiaries and will not result in, or require, the creation or imposition of any Lien on any of the properties or revenues of Borrower pursuant to any applicable
law or any such contractual obligation except, in each case, where such violation, creation or imposition could not reasonably be expected to have a Material Adverse Effect. 

4.4 No Proceeding, Litigation or Investigation. No litigation, proceeding or to the knowledge of Borrower, investigation of or before
any Governmental Authority is pending or, to the knowledge of Borrower, threatened in writing against Borrower or any of its subsidiaries, except where such litigation, proceeding or investigation could not reasonably be expected to have a Material
Adverse Effect. 
 4.5 Governmental Approvals. All governmental authorizations and actions necessary in connection with the execution
and delivery by Borrower of this Agreement and the other Credit Facility Documents and the performance of its obligations hereunder and thereunder have been obtained or performed and remain valid and in full force and effect. 

4.6 Financial Statements. All quarterly and annual financial statements of Borrower and its consolidated subsidiaries heretofore
delivered by Borrower to Administrative Agent did not fail to disclose any material liabilities, whether direct or contingent, and fairly presented in all material respects the financial condition of Borrower and its consolidated subsidiaries, as
the case may be, in each case as of the date delivered and were prepared in accordance with GAAP. Since December 31, 2012, there has been no development or event that has had or could reasonably be expected to have a Material Adverse Effect.

 4.7 True and Complete Disclosure. All factual information heretofore or contemporaneously furnished by Borrower or its
representatives in writing to Administrative Agent or any Lender for purposes of or in connection with this Agreement or any transaction contemplated herein was true and accurate in all material respects on the date as of which such information was
dated or certified and at such date did not omit to state any fact necessary to make such information not misleading at such time in light of the circumstances under which such information was provided. The information referred to in the immediately
preceding sentence furnished to Administrative Agent or any Lender on or prior to the Commitment Effective Date, taken as a whole, as updated or supplemented from time to time, is true and correct in all material respects as of the Commitment
Effective Date, and as of the Commitment Effective Date all such information does not omit to state any fact which could reasonably be expected to have a Material Adverse Effect. 

4.8 Investment Company Act. Borrower is not an “investment company” within the meaning of the Investment Company Act of 1940,
as amended. 
 4.9 Compliance with Law. There is no violation by Borrower or any Significant Subsidiary of any Governmental Rule
which could reasonably be expected to have a Material Adverse Effect. Except as have been delivered to Administrative Agent, no notices of any such violation of any Governmental Rule have been issued, entered or received by Borrower or any
Significant Subsidiary. 
 4.10 ERISA. Borrower and any other Person which is under common control (within the meaning of
Section 414(b) or (c) of the Code) with Borrower have fulfilled their obligations (if any) under the minimum funding standards of ERISA and the Code for each ERISA Plan in compliance in all material respects with the currently applicable
provisions of ERISA and the Code and have not incurred any material liability to the PBGC or an ERISA Plan under Title IV of ERISA (other than liability for premiums due in the ordinary course). Assuming that the credit extended hereunder does
not involve the assets of any employee benefit plan subject to ERISA, neither the execution of this Agreement nor the consummation of the transactions contemplated hereby will involve a Prohibited Transaction. 

 4.11 Solvency. Borrower and each Significant Subsidiary is, and after giving effect to the
incurrence of all Indebtedness and obligations being incurred in connection with this Agreement and the other Credit Facility Documents, will be and will continue to be, Solvent. 

4.12 Taxes. Each of Borrower and its subsidiaries has timely filed or caused to be filed all tax returns and reports required to have
been filed and has paid or caused to be paid all taxes required to have been paid by it, except (a) taxes that are being contested in good faith by appropriate proceedings and for which such Person has established adequate reserves in
accordance with GAAP or (b) to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

4.13 Use of Credit. Neither Borrower or any of its subsidiaries is engaged principally, or as one of its important activities, in the
business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (as defined in Regulations T, U or X of the Federal Reserve Board), and no part of the proceeds of any extension of credit
hereunder will be used to buy or carry any such margin stock. 
 4.14 FCPA; OFAC; Anti-Money Laundering. 

4.14.1 No Unlawful Contributions or Other Payments. Neither Borrower nor any of its subsidiaries, nor, to
Borrower’s knowledge, any director, officer, agent, employee or Affiliate of Borrower or any of its subsidiaries has taken or will take any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt
Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an
offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to pay or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any
foreign political party or official thereof or any candidate for foreign political office. 
 4.14.2 OFAC. 

(a) Neither Borrower nor any of its subsidiaries nor, to Borrower’s knowledge, any officer or director of Borrower or any
of its subsidiaries, nor any agent, employee or Affiliate of Borrower or any of its subsidiaries is (i) a Person that is, or is owned or controlled by a Person that is currently the subject of any U.S. sanctions administered by OFAC
(“Sanctions”), nor (ii) located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Cuba, Iran, North Korea, Sudan and Syria). 

(b) Borrower will not, directly or indirectly, use the proceeds of the Loans, or lend, contribute or otherwise make available
such proceeds to any subsidiary, joint venture partner or other Person to fund any activities or business of or with any Person or in any country or territory that, at the time of such funding, is the subject of Sanctions. 

4.14.3 No Conflict with Money Laundering Laws. To Borrower’s knowledge, the operations of Borrower and its
subsidiaries are and have been conducted at all times in material compliance with (i) applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, and the rules and
regulations promulgated thereunder, (ii) the money laundering statutes of all jurisdictions where Borrower and its subsidiaries conduct business, and the rules and regulations thereunder and (iii) any related or similar rules, regulations
or guidelines issued, administered or enforced by any court, arbitrator, regulatory body, administrative agency, governmental body or other authority or agency 

 
(collectively, the “Money Laundering Laws”). No action, suit or proceeding by or before any court, arbitrator, regulatory body, administrative agency, governmental body or other
authority or agency involving Borrower or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to Borrower’s knowledge, threatened. 

ARTICLE V 
 COVENANTS OF BORROWER

 Borrower covenants and agrees that from and after the Commitment Effective Date until the repayment in full of the Obligations (other
than those contingent obligations that are intended to survive the termination of this Agreement or the other Credit Facility Documents) and the expiration and termination of all Commitments, unless Administrative Agent on behalf of the Lenders
waives compliance in writing: 
 5.1 Existence. Borrower shall, and shall cause each Significant Subsidiary to, maintain and preserve
its existence in good standing in the state of its formation and its qualification to do business in each other jurisdiction where such qualification is necessary and all material rights, privileges and franchises necessary in the normal conduct of
its business, except as permitted under Section 5.3.1. 
 5.2 Consents, Legal Compliance. Borrower shall maintain in full force
and effect all consents of any Governmental Authority that are required to be obtained by it in order for it to perform its obligations under this Agreement and the other Credit Facility Documents and will obtain any that may become necessary in the
future. 
 5.3 Prohibition of Certain Transfers. 

5.3.1 Borrower shall not, and shall not permit any Significant Subsidiary to, liquidate or dissolve, or combine, consolidate or merge with or
into another Person (other than any consolidation or mergers between or among Borrower and its Significant Subsidiaries); except that Borrower or any Significant Subsidiary may combine, consolidate or merge with another Person if (i) Borrower or a
Significant Subsidiary, as the case may be, is the surviving corporation of such merger, consolidation or combination; (ii) after giving effect thereto, Borrower’s ratings for the Index Debt from Moody’s or S&P are at least Baa3 or
BBB-, respectively, or if the long-term debt of the Borrower is not then rated by either such rating agency, the Borrower shall have provided pro forma calculations to Administrative Agent demonstrating that, to the reasonable satisfaction of
Administrative Agent, after giving effect to such merger, consolidation or combination, the projected ratio of Total Debt to Capitalization for the next succeeding fiscal quarter will be less than or equal to 0.60 to 1.00; (iii) prior to such
merger, consolidation or combination, and after giving effect thereto, no Inchoate Default or Event of Default shall have occurred and be continuing; and (iv) Borrower’s rights and obligations, and Administrative Agent’s and the
Lenders’ rights and remedies, under this Agreement and the other Credit Facility Documents shall not be diminished in any manner as a result of such merger, consolidation or combination. 

5.3.2 Except as set forth in this Section 5.3 or sales that are in the nature of financing leases, Borrower shall not, and shall not
permit any Significant Subsidiary to, sell, lease, assign or otherwise transfer or dispose of, directly or indirectly, all or any substantial part of its or such Significant Subsidiary’s property, business or assets; provided that
(i) Borrower or any Significant Subsidiary may sell, lease or otherwise transfer or dispose of, directly or indirectly, assets to Borrower or any Significant Subsidiary, (ii) Borrower may sell, contribute or otherwise transfer its
transmission and transmission-related assets for fair value to a regional transmission organization or conduct sales that are in the nature of financing leases, and (iii) the foregoing shall not limit Borrower’s ability to enter into
securitization transactions secured by a transfer of Borrower’s receivables. 

 5.3.3 Except as set forth in this Section 5.3 or on Schedule 5.3.3, Borrower shall not, and
shall not permit any Significant Subsidiary to, mortgage, pledge or encumber all or substantially all of its assets; provided that Borrower and any Significant Subsidiary of Borrower may (i) enter into limited recourse project financing
transactions (including in the form of synthetic leases) in the ordinary course of Borrower’s or such subsidiary’s business, (ii) incur secured Indebtedness in an aggregate outstanding principal amount not to exceed $200,000,000 at
any time and (iii) incur other secured Indebtedness (x) so long as such Indebtedness is otherwise permitted by this Agreement, (y) for as long as such other Indebtedness is secured, the Obligations are also secured by Liens on the
collateral securing such other Indebtedness and (z) for as long as such other secured Indebtedness is secured, such other Indebtedness is subject to a customary intercreditor agreement in form and substance reasonably acceptable to the
Administrative Agent and the Borrower, which agreement shall provide, inter alia, that the Liens on the collateral securing the Obligations shall rank equal in priority to the Liens on the collateral securing such other Indebtedness. 

5.3.4 Except as set forth in this Section 5.3, Borrower shall not sell, assign or otherwise transfer, by way of collateral assignment or
otherwise, or dispose of, directly or indirectly (by way of collateral assignment or otherwise) any Equity Interests in any Significant Subsidiary; provided that Borrower or any subsidiary of Borrower may engage in limited recourse project
financing transactions as provided in Section 5.3.3; and provided further that the foregoing shall not limit Borrower’s ability to enter into securitization transactions secured by a transfer of Borrower’s receivables.

 5.4 Payment and Performance of Material Obligations. Borrower shall, and shall cause each Significant Subsidiary to, pay and
perform all its material obligations, howsoever arising, as and when due and payable or required to be performed, except (a) such as may be contested in good faith or as to which a bona fide dispute may exist; provided that adequate
reserves have been established in accordance with GAAP, and (b) trade payables which shall be paid in the ordinary course of business. 

5.5 Taxes. Borrower shall, and shall cause each Significant Subsidiary to, file all tax returns and pay, or cause to be paid, as and
when due and prior to delinquency, all material taxes, assessments and governmental charges of any kind that may at any time be lawfully assessed or levied against or with respect to it; provided that Borrower or any Significant Subsidiary
may contest in good faith any such taxes, assessments and other charges and, in such event, may permit the taxes, assessments or other charges so contested to remain unpaid during any period, including appeals, when such Person is in good faith
contesting the same, so long as (a) adequate reserves have been established in accordance with GAAP, (b) enforcement of the contested tax, assessment or other charge is effectively stayed for the entire duration of such contest if such
enforcement could reasonably be expected to have a Material Adverse Effect, and (c) any tax, assessment or other charge determined to be due, together with any interest or penalties thereon, is promptly paid as required after final resolution
of such contest. 
 5.6 Maintenance of Property, Insurance. Borrower shall, and shall cause each Significant Subsidiary to,
(a) keep all property useful and necessary in its business in good working order and condition except where the failure to so maintain could not reasonably be expected to have a Material Adverse Effect, (b) maintain proper books and
records in accordance with GAAP, (c) permit Administrative Agent to visit and inspect its properties at reasonable times and upon reasonable notice, (d) maintain with financially sound and reputable insurance companies insurance on all its
property in at least such amounts and against at least such risks, and/or make provisions for self-insurance, in accordance with normal industry practice, and (e) furnish to Administrative Agent, upon written request, full information as to the
insurance carried. 
 5.7 Compliance with Laws, Instruments, Etc. Borrower shall, and shall cause each Significant Subsidiary to,
promptly comply, or cause compliance, with all Governmental Rules (except where the failure to comply could not reasonably be expected to have a Material Adverse Effect) including Sanctions administered by OFAC and Governmental Rules relating to
pollution control, environmental protection, equal employment opportunity or employee benefit plans, ERISA Plans and employee safety. 

 5.8 No Change in Business. Borrower shall maintain a substantial part of its business in
the power industry and businesses reasonably related thereto and Borrower shall, and shall cause each Significant Subsidiary to, maintain as a substantial part of its business the general type of business now conducted by Borrower or such
Significant Subsidiary, as the case may be. 
 5.9 Financial Statements. Borrower shall furnish or cause to be furnished to
Administrative Agent: 
 5.9.1 As soon as practicable and in any event within 60 days after the end of the first, second and third quarterly
accounting periods of its fiscal year (commencing with the fiscal quarter ended March 31, 2014), an unaudited consolidated balance sheet of Borrower and its consolidated subsidiaries as of the last day of such quarterly period and the related
statements of income, cash flow, and shareholder’s equity (where applicable) for such quarterly period and (in the case of the second and third quarterly periods) for the portion of the fiscal year ending with the last day of such quarterly
period, setting forth in each case in comparative form corresponding unaudited figures from the preceding fiscal year. 
 5.9.2 As soon as
practicable and in any event within 120 days after the close of each applicable fiscal year, audited consolidated financial statements of Borrower and its consolidated subsidiaries. Such financial statements shall include a statement of equity, a
balance sheet as of the close of such year, an income and expense statement, reconciliation of capital accounts (where applicable) and a statement of cash flow, all prepared in accordance with GAAP, certified by an independent certified public
accountant of recognized national standing selected by Borrower. Such certificate shall not be qualified or limited because of restricted or limited examination by such accountant of any material portion of the records of Borrower. 

5.9.3 Each time the financial statements are delivered under Sections 5.9.1 or 5.9.2, deliver, along with such financial statements, a
certificate signed by a Responsible Officer of Borrower (i) setting forth reasonably detailed calculations demonstrating compliance with Section 5.11 and including a schedule describing all Contingent Obligations of Borrower, and
(ii) certifying that (A) such Responsible Officer has made or caused to be made a review of the transactions and financial condition of Borrower during the relevant fiscal period and that, to such Responsible Officer’s knowledge,
Borrower is in compliance with all applicable material provisions of each Credit Facility Document to which Borrower is a party or, if such is not the case, stating the nature of such non-compliance and the
corrective actions which Borrower has taken or proposes to take with respect thereto, and (B) such financial statements are true and correct in all material respects and that no material adverse change in the consolidated assets, liabilities,
operations, or financial condition of Borrower has occurred since the date of the immediately preceding financial statements provided to Administrative Agent or, if a material adverse change has occurred, the nature of such change. 

5.9.4 As long as Borrower is required or permitted to file reports under the Securities Exchange Act of 1934, as amended, filing its report on
Form 10-Q with a notice of such filing to Administrative Agent shall satisfy the requirements of Section 5.9.1 and Section 5.9.3(ii)(B), and filing Borrower’s report on Form 10-K with a notice of such filing to Administrative Agent shall satisfy the requirements of Section 5.9.2 and Section 5.9.3(ii)(B). 

5.9.5 Promptly following any request therefor, such other information regarding the operations, business affairs and financial condition of
Borrower or any Significant Subsidiary, or compliance with the terms of this Agreement and the other Credit Facility Documents, as Administrative Agent or any Lender may reasonably request. 

 5.10 Notices. Borrower shall promptly, upon acquiring notice or giving notice, as the case
may be, or obtaining knowledge thereof, deliver written notice to Administrative Agent of: 
 5.10.1 Any litigation or investigation pending
or threatened in writing against Borrower or any Significant Subsidiary involving claims against Borrower or such Significant Subsidiary that could reasonably be expected to have a Material Adverse Effect, such notice to include copies of all papers
filed in such litigation or investigation and to be given monthly if any such papers have been filed since the last notice given; 
 5.10.2
Any dispute or disputes which may exist between Borrower or any Significant Subsidiary and any Governmental Authority and which involve (i) claims against Borrower or such Significant Subsidiary, (ii) injunctive or declaratory relief,
(iii) revocation or material modification or the like of any applicable material permit or imposition of additional material conditions with respect thereto, or (iv) any liens for any material amount of taxes due but not paid, in each case
that could reasonably be expected to have a Material Adverse Effect; 
 5.10.3 (i) Any Inchoate Default or Event of Default or (ii) any
default under any agreement (other than this Agreement) with respect to any Indebtedness (other than Non-Recourse Indebtedness) of Borrower or any Significant Subsidiary outstanding in an amount equal to or in excess of $50,000,000 or the
acceleration of Indebtedness of Borrower for borrowed money in an amount equal to or in excess of $10,000,000; 
 5.10.4 Borrower being
placed on watch or review for possible rating down-grade by S&P or Moody’s, or any negative change, from the date hereof, from the rating given to Borrower’s Index Debt by either S&P or Moody’s; and 

5.10.5 Any event or circumstance which could reasonably be expected to have a Material Adverse Effect. 

5.11 Financial Covenants. 

5.11.1 Borrower shall maintain, as of the last day of each fiscal quarter (commencing with the fiscal quarter ended December 31, 2013), a
ratio of Total Debt to Capitalization, for such fiscal quarter then ended, of less than or equal to 0.65 to 1.00. 
 5.11.2 Borrower shall
comply with the limitation on short-term indebtedness imposed on Borrower by the New Mexico Public Regulation Commission. 
 5.12
Indemnification. 
 5.12.1 Borrower shall indemnify, defend and hold harmless Administrative Agent, each LC Issuing Bank, each
Swingline Lender and each Lender, each of their Affiliates and their respective officers, directors, shareholders, controlling persons, employees, agents and servants (collectively, the “Indemnitees”) from and against and reimburse
the Indemnitees for any and all penalties, claims, damages, losses, liabilities and obligations, of any kind or nature whatsoever, that may be imposed upon, incurred by or asserted or awarded against any Indemnitee in any way relating to or arising
out of or in connection with this Agreement, the other Credit Facility Documents, the use by Borrower of the proceeds hereof, or any related claim or investigation, litigation or proceeding, or the preparation of any defense with respect

 
thereto, and will reimburse each Indemnitee for all reasonable expenses (including all reasonable costs and expenses of a single legal counsel, together with a single legal counsel in each
applicable jurisdiction, and all reasonable costs and expenses of multiple legal counsels to the extent necessary in the event that (i) the circumstances giving rise to such indemnification create an ethical conflict for such single counsel or
(ii) the Indemnitees have inconsistent or conflicting defenses) incurred in connection with the investigation of, preparation for or defense of any pending or threatened claim, investigation, litigation or proceeding, whether or not such
investigation, litigation or proceeding is brought by Borrower, or an Indemnitee is otherwise a party thereto (but not in respect of any claim or action brought by Borrower against any Indemnitee to enforce its rights hereunder or under any other
Credit Facility Document), and whether or not the transactions contemplated by the Credit Facility Documents are consummated (collectively, “Subject Claims”). 

5.12.2 The foregoing indemnities shall not apply with respect to an Indemnitee, to the extent any such claim, penalty, damage, loss,
liability, obligation, cost, disbursement or expense incurred by or asserted or awarded against such Indemnitee is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from the gross negligence or willful
misconduct of such Indemnitee, but shall continue to apply to other Indemnitees. Without limiting the generality of the foregoing, Borrower shall not be liable for any special, indirect, consequential or punitive damages suffered by an Indemnitee,
including any loss of profits, business or anticipated savings of such Indemnitee, other than any such damages or losses imposed upon or asserted or awarded against any Indemnitee by a third party. No Indemnitee shall be liable for any damages
arising from the use by unintended recipients of any information or other materials distributed through electronic, telecommunications or other information transmission systems in connection with this Agreement or the other Credit Facility Documents
or the transactions contemplated hereby or thereby. 
 5.12.3 If for any reason the foregoing indemnification is unavailable to any
Indemnitee or is insufficient to hold it harmless, then Borrower shall contribute to the amount paid or payable by such Indemnitee as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative
economic interests of Borrower and its equity holders on the one hand and such Indemnitee on the other hand in the matters contemplated by this Agreement and the other Credit Facility Documents as well as the relative fault of Borrower and such
Indemnitee with respect to such loss, claim, damage or liability and any other relevant equitable considerations. 
 5.12.4 The provisions
of this Section 5.12 shall survive the satisfaction or discharge of Borrower’s obligations hereunder, and shall be in addition to any other rights and remedies of the Lenders. 

5.12.5 In case any action, suit or proceeding shall be brought against any Indemnitee, such Indemnitee shall promptly notify Borrower of the
commencement thereof, and Borrower shall be entitled, at its expense, acting through counsel reasonably acceptable to such Indemnitee, to participate in, and, to the extent that Borrower desires, to assume and control the defense thereof. Such
Indemnitee shall be entitled, at its expense, to participate in any action, suit or proceeding the defense of which has been assumed by Borrower. Notwithstanding the foregoing, Borrower shall not be entitled to assume and control the defense of any
such action, suit or proceedings if and to the extent that, in the reasonable opinion of such Indemnitee and its counsel, such action, suit or proceeding involves the potential imposition of criminal liability upon such Indemnitee or a conflict of
interest between such Indemnitee and Borrower (unless such conflict of interest is waived in writing by the affected Indemnitees), and in such event (other than with respect to disputes between such Indemnitee and another Indemnitee) Borrower shall
pay the reasonable expenses of such Indemnitee in such defense to the extent provided in Sections 5.12.1 and 5.12.2. 
 5.12.6 Borrower
shall promptly report to the relevant Indemnitee(s) on the status of such action, investigation, suit or proceeding the defense of which is assumed by Borrower in accordance with 

 
Section 5.12.5, as material developments shall occur and from time to time as requested by such Indemnitee (but not more frequently than every 60 days). Borrower shall deliver to such
Indemnitee a copy of each document filed or served on any party in such action, investigation, suit or proceeding, and each material document which Borrower possesses relating to such action, investigation, suit or proceeding. 

5.12.7 Notwithstanding Borrower’s rights hereunder to control certain actions, investigations, suits or proceedings, if any Indemnitee
reasonably determines that failure to compromise or settle any Subject Claim made against such Indemnitee is reasonably likely to have an imminent and material adverse effect on such Indemnitee or such Indemnitee’s interest in Borrower, such
Indemnitee shall be entitled to compromise or settle such Subject Claim; provided that such Indemnitee consults with and coordinates such compromise or settlement with Borrower (although no prior consent by Borrower to any such compromise or
settlement shall be required); and provided further that with respect to any Indemnitee other than a Lender, such right may be exercised only with the consent of the Lender or Lenders which such Indemnitee is affiliated with or engaged
by. Any such compromise or settlement shall be binding upon Borrower for the purposes of this Section 5.12. Notwithstanding Borrower’s rights hereunder, Borrower shall not be entitled to settle any Subject Claim of an Indemnitee without
the prior written consent of such Indemnitee or a full release of such Indemnitee, in form and substance satisfactory to such Indemnitee. Upon payment of any Subject Claim by Borrower pursuant to this Section 5.12 or other similar indemnity
provisions contained herein to or on behalf of an Indemnitee, Borrower, without any further action, shall be subrogated to any and all claims that such Indemnitee may have relating thereto, and such Indemnitee shall cooperate with Borrower and
Borrower’s insurance carrier, and give such further assurances as are necessary or advisable to enable Borrower vigorously to pursue such claims. 

5.12.8 Any amounts payable by Borrower pursuant to this Section 5.12 shall be regularly payable within 30 days after Borrower receives an
invoice for such amounts from any applicable Indemnitee, and if not paid within such 30-day period, shall bear interest at the Default Rate. 

5.12.9 Notwithstanding anything to the contrary set forth herein, except as provided in Section 5.12.1 or 5.12.5, Borrower shall not, in
connection with any one legal proceeding or claim, or separate but related proceedings or claims arising out of the same general allegations or circumstances, in which the interests of the Indemnitees do not materially differ, be liable to the
Indemnitees (or any of them) under any of the provisions set forth in this Section 5.12 for the fees and expenses of more than one separate firm of attorneys (which firm shall be selected by the affected Indemnitees, or upon failure to so
select, by Administrative Agent). 
 5.13 Federal Regulations. Borrower shall not use any part of the proceeds of the Loans to
purchase or carry any “margin stock” (within the meaning of Regulation U) or to purchase, carry or trade in any securities under such circumstances as to involve Borrower in a violation of Regulation X or to involve any broker or
dealer in Regulation T. 
 5.14 Use of Proceeds. Borrower shall use, and cause its Subsidiaries to use, the proceeds of the
Loans hereunder and/or the Letters of Credit for general corporate purposes. 
 5.15 Transactions with Affiliates. Borrower shall
not, and shall not permit any subsidiary to, enter into any transaction with any of its Affiliates (other than Borrower or any subsidiary) unless such transaction is on terms no less favorable to Borrower or such subsidiary than if the transaction
had been negotiated in good faith on an arm’s-length basis with a non-Affiliate. 

 ARTICLE VI 

EVENTS OF DEFAULT; REMEDIES 
 6.1
Events of Default. The occurrence of any of the following events shall constitute an event of default (“Event of Default”) hereunder: 

6.1.1 Payments. Borrower shall fail to pay, in accordance with the terms of this Agreement or any other Credit Facility Document,
(i) any principal on any Loan or any Reimbursement Obligation in respect of any Drawing Payment on the date such sum is due, (ii) any interest on any Loan or Reimbursement Obligation or any scheduled fee, cost, charge or sum due hereunder
or under any other Credit Facility Document, (in the case of clause (ii)) within three Banking Days after the date that such sum is due, or (iii) any other fee, cost, charge or other sum due under this Agreement or any other Credit Facility
Document, within 30 days after written notice that such sum is due and has not been paid. 
 6.1.2 Debt Cross Default.
(i) Borrower or any Significant Subsidiary shall default for a period beyond any applicable grace period (a) in the payment of any principal, interest or other amount due under any Indebtedness (other than trade payables or non-recourse
indebtedness), or (b) any other event shall occur or condition shall exist under an agreement, or related agreements, under which Borrower or any Significant Subsidiary has outstanding Indebtedness (other than trade payables or non-recourse
indebtedness), if the effect of such event or condition is to permit the acceleration of the maturity of such Indebtedness (other than trade payables or non-recourse indebtedness), and the outstanding amount or amounts payable under all such
Indebtedness under clauses (a) and (b) equals or exceeds $50,000,000 or (ii) an event of default shall have occurred and be continuing under an agreement, or related agreements, under which Borrower or any Significant Subsidiary has
outstanding Indebtedness (other than trade payables or non-recourse indebtedness) of $10,000,000 or more and, in the case of this clause (ii), such debt has been accelerated by the holder of such debt, or the holder of such debt has attempted to
accelerate but such acceleration was prevented by applicable Governmental Rule. 
 6.1.3 Bankruptcy; Insolvency. Borrower or any
Significant Subsidiary shall become subject to a Bankruptcy Event. 
 6.1.4 Misstatements. Any representation or warranty of Borrower
set forth in this Agreement or any other Credit Facility Document or any amendment or modification hereof or waiver hereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this
Agreement, shall be untrue or misleading in any material respect as of the time made. 
 6.1.5 Breach of Terms of Agreement. Borrower
shall fail to perform or observe any of the covenants set forth in this Agreement and (except with respect to any covenants set forth in Section 5.1 (with respect to its obligation to maintain its existence), 5.3, 5.8, 5.11 or 5.14) such
failure shall continue unremedied for 30 days after Borrower becomes aware thereof or receives written notice with respect thereto from Administrative Agent. 

6.1.6 Judgments. A final judgment or judgments shall be entered against Borrower or any Significant Subsidiary in the amount of
$50,000,000 or more (net of amounts covered by insurance) individually or in the aggregate (other than (i) a judgment which is fully discharged within 30 days after its entry, or (ii) a judgment, the execution of which is effectively
stayed within 30 days after its entry but only for 30 days after the date on which such stay is terminated or expires) or, in the case of injunctive relief, which if left unstayed could reasonably be expected to have a Material Adverse Effect. 

6.1.7 Change in Control. TECO shall cease to directly or indirectly own and control at least 80% of (i) the economic interests and
(ii) the voting interests (whether by committee, contract or otherwise) in Borrower. 

 6.1.8 ERISA Violations. If Borrower or any ERISA Affiliate should establish, maintain,
contribute to or become obligated to contribute to any ERISA Plan and (a) a Reportable Event shall have occurred with respect to any ERISA Plan; or (b) a trustee shall be appointed by a United States District Court to administer any ERISA
Plan; or (c) the PBGC shall institute proceedings to terminate any ERISA Plan; or (d) a complete or partial withdrawal by Borrower or any ERISA Affiliate from any Multiemployer Plan shall have occurred, or any Multiemployer Plan shall
enter reorganization status, become insolvent, or terminate (or notify Borrower or any ERISA Affiliate of its intent to terminate) under Section 4041A of ERISA; or (e) any ERISA Plan experiences an accumulated funding deficiency under Code
Section 412(b); or (f) Borrower or any ERISA Affiliate incurs any liability for a Prohibited Transaction under ERISA Section 502; provided that any of the events described in this Section 6.1.8 shall result in joint
liability of Borrower and all ERISA Affiliates in excess of $5,000,000. 
 6.1.9 Lack of Validity, Etc.. Any of the Credit Facility
Documents, once executed and delivered, shall, except as the result of acts or omissions of Administrative Agent or the Lenders, fail to provide Administrative Agent and the Lenders the liens, security interest, rights, titles, interest, remedies
permitted by law, powers or privileges intended to be created thereby or cease to be in full force and effect (except as expressly contemplated by the terms thereof), or the validity thereof or the applicability thereof to the Loans, Reimbursement
Obligations in respect of any Drawing Payment or other obligations purported to be secured or guaranteed thereby or any part thereof shall be disaffirmed by or on behalf of Borrower or any other party thereto (other than Administrative Agent or the
Lenders). 
 6.2 Remedies. Upon the occurrence and during the continuation of an Event of Default, Administrative Agent and the
Lenders may, at the election of the Required Lenders, without further notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor, or other notices or demands of any kind, all such notices and demands other than
notices required by this Agreement or any of the other Credit Facility Documents being waived (to the extent permitted by Governmental Rule), exercise any or all of the following rights and remedies, in any combination or order that the Required
Lenders may elect, in addition to such other rights or remedies as the Lenders may have hereunder, under the other Credit Facility Documents or at law or in equity, as follows: 

6.2.1 No Further Loans. Administrative Agent and the Lenders may refuse and shall not be obligated, to continue any Loans or to make
any additional Loans, the LC Issuing Banks shall not be obligated to issue, extend or increase the Stated Amount of any Letter of Credit and the Commitments may be terminated; provided that in the event of an Event of Default occurring under
Section 6.1.3 with respect to Borrower, the foregoing shall take effect immediately and without further act of Administrative Agent or the Lenders. 

6.2.2 Cure by Administrative Agent. Without any obligation to do so but only during any time when a Loan, Letter of Credit or
Reimbursement Obligation is outstanding or any other amounts are due and owing hereunder to Administrative Agent or the Lenders, Administrative Agent may make disbursements or Loans in respect of which any amounts are outstanding to or on behalf of
Borrower to cure any Event of Default or Inchoate Default hereunder as the Required Lenders in their sole discretion may consider necessary or appropriate, whether to preserve and protect the Lenders’ interests under this Agreement or any
Credit Facility Documents or for any other reason, and all sums so expended, together with interest on such total amount at the Default Rate (but in no event shall the rate exceed the maximum lawful rate, if applicable), shall be repaid by Borrower
to Administrative Agent on demand and shall be secured by this Agreement and the other Credit Facility Documents and shall constitute an Obligation, notwithstanding that such expenditures may, together with amounts advanced under this Agreement,
exceed the amount of the Total Commitment. 

 6.2.3 Acceleration. Declare and make all sums of accrued and outstanding principal and
accrued but unpaid interest remaining under this Agreement together with all unpaid fees, costs (including Liquidation Costs) and charges due hereunder or under any other Credit Facility Document, immediately due and payable and require Borrower
immediately, without presentment, demand, protest or other notice of any kind, all of which Borrower hereby expressly waives, to pay Administrative Agent or the Lenders an amount in immediately available funds equal to the aggregate amount of any
outstanding Loans; provided that in the event of an Event of Default occurring under Section 6.1.3 with respect to Borrower, all such amounts shall become immediately due and payable without further act of Administrative Agent or the
Lenders. 
 6.2.4 Cash Collateralization of Letters of Credit. Demand from Borrower payment in an amount equal to the aggregate
Stated Amount of all Letters of Credit issued hereunder (including increases in such Stated Amount) to be used as security for any Reimbursement Obligations which may arise in accordance with Section 2.2.10. 

ARTICLE VII 
 ADMINISTRATIVE AGENT,
SUBSTITUTION, AMENDMENTS, ETC. 
 7.1 Appointment, Powers and Immunities. 

7.1.1 Each Lender and each LC Issuing Bank hereby irrevocably appoints and authorizes Administrative Agent to act as its agent hereunder and
under the other Credit Facility Documents with such powers as are expressly delegated to Administrative Agent by the terms of this Agreement and the other Credit Facility Documents, together with such other powers as are reasonably incidental
thereto. The provisions of this Article are solely for the benefit of Administrative Agent, the Lenders and the LC Issuing Banks, and Borrower shall not have rights as a third-party beneficiary of any of such provisions. It is understood and agreed
that the use of the term “agent” herein or in any other Credit Facility Documents (or any other similar term) with reference to Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising
under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. Administrative Agent shall not have any duties
or obligations except those expressly set forth in this Agreement or in any other Credit Facility Document, and its duties hereunder shall be administrative in nature. Administrative Agent shall not have any duties or responsibilities except those
expressly set forth in this Agreement or in any other Credit Facility Document, or be a trustee for any Lender or LC Issuing Bank. Notwithstanding anything to the contrary contained herein, Administrative Agent: (i) shall not be subject to any
fiduciary or other implied duties, regardless of whether an Inchoate Default has occurred and is continuing; (ii) shall not have any duty to take any action or exercise any discretionary powers, except discretionary rights and powers expressly
contemplated hereby or by the other Credit Facility Documents that Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for
herein or in the other Credit Facility Documents); provided Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, is contrary to this Agreement or any other Credit Facility Document
or any Governmental Rule, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Bankruptcy Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in
violation of any Bankruptcy Law or exposes Administrative Agent to any liability. Each of Administrative Agent, the Lenders, the LC Issuing Banks and any of their respective Affiliates shall not be responsible to any other Lender for or have any
duty to ascertain or inquire into (i) any statement, representation or warranty made by Borrower or its Affiliates made in or in connection with this Agreement or any other Credit Facility Document, (ii) the contents of any certificate,
report or other document referred to or provided for in, or received by Administrative Agent, or any Lender under this Agreement or any 

 
Credit Facility Document, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein, (iv) the validity,
effectiveness, genuineness or enforceability of this Agreement, any other Credit Facility Document or any other agreement, instrument or document, or (v) for any failure by Borrower, its Affiliates to perform their respective obligations
hereunder or thereunder. Administrative Agent may employ agents and attorneys in fact and shall not be responsible for the negligence or misconduct of any such agents or attorneys in fact selected by it with reasonable care. 

7.1.2 Administrative Agent and its directors, officers, employees or agents shall not be responsible for any action taken or omitted to be
taken by it or them hereunder or under any other Credit Facility Document or in connection herewith or therewith, except for its or their own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and
nonappealable judgment. Without limiting the generality of the foregoing, Administrative Agent (a) may treat the payee of any Note as the holder thereof until Administrative Agent receives written notice of the assignment or transfer thereof
signed by such payee and in form satisfactory to Administrative Agent; (b) may consult with legal counsel (including counsel for Borrower), independent public accountants and other experts selected by it and shall not be liable for any action
taken or omitted to be taken in accordance with the advice of such counsel, accountants or experts; (c) makes no warranty or representation to any Lender for any statements, warranties or representations made in or in connection with any Credit
Facility Document; (d) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of any Credit Facility Document on the part of any party thereto or to inspect the
property (including the books and records) of Borrower or any other Person; and (e) shall not be responsible to any Lender for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of any Credit Facility
Document or any other instrument or document furnished pursuant hereto. Except as otherwise provided under this Agreement and the other Credit Facility Documents, Administrative Agent shall take such action with respect to the Credit Facility
Documents as shall be directed by the Required Lenders. 
 7.1.3 Administrative Agent may perform any and all of its duties and exercise its
rights and powers hereunder or under any other Credit Facility Document by or through any one or more sub-agents appointed by Administrative Agent. Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its
rights and powers by or through their respective Affiliates. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Affiliates of Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facility provided for in this Agreement as well as activities as Administrative Agent. Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agent except
to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 

7.2 Reliance. Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice,
request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet, website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. As to any
other matters not expressly provided for by this Agreement, Administrative Agent shall not be required to take any action or exercise any discretion, but shall be required to act or to refrain from acting upon instructions of the Required Lenders
(except that Administrative Agent shall not be required to take any action which exposes Administrative Agent to personal liability or which is contrary to this Agreement, any other Credit Facility Document or any Governmental Rule). Administrative
Agent shall in all cases (including when any action by Administrative Agent alone is authorized hereunder, if Administrative 

 
Agent elects in its sole discretion to obtain instructions from the Required Lenders) be fully protected in acting, or in refraining from acting, hereunder or under any other Credit Facility
Document in accordance with the instructions of the Required Lenders, and such instructions of the Required Lenders and any action taken or failure to act pursuant thereto shall be binding on all of the Lenders. 

7.3 Non-Reliance. Each Lender and each LC Issuing Bank acknowledges that it has, independently and without reliance on Administrative
Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and LC Issuing Bank also acknowledges that it will,
independently and without reliance upon Administrative Agent, or any other Lender, and based on such documents and information as it shall from time to time deem appropriate, continue to make its decisions in taking or not taking actions under this
Agreement or the other Credit Facility Documents or any related agreement or any document furnished hereunder or thereunder. Each of Administrative Agent and any Lender shall not be required to keep informed as to the performance or observance by
Borrower or its Affiliates under this Agreement or any other document referred to or provided for herein or to make inquiry of, or to inspect the properties or books of Borrower or its Affiliates. 

7.4 Defaults. Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Inchoate Default or Event
of Default, unless such default relates to the payment of principal, interest and fees required to be paid to Administrative Agent for the account of the Lenders, or Administrative Agent has received a written notice from a Lender, LC Issuing Bank
or Borrower, referring to this Agreement, describing such Inchoate Default or Event of Default and indicating that such notice is a notice of default. If Administrative Agent receives such a notice of the occurrence of an Inchoate Default or Event
of Default, Administrative Agent shall give notice thereof to the Lenders. Administrative Agent shall take such action with respect to such Inchoate Default or Event of Default as is provided in Article VI or if not provided for in Article VI, as
Administrative Agent shall be reasonably directed by the Required Lenders; provided, however, that unless and until Administrative Agent shall have received such directions, Administrative Agent may (but shall not be obligated to) take
such action, or refrain from taking such action, with respect to such Inchoate Default or Event of Default as it shall deem advisable in the best interest of the Lenders. 

7.5 Indemnification. Without limiting the Obligations of Borrower hereunder, each Lender agrees to indemnify Administrative Agent,
ratably in accordance with its Proportionate Share for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may at any time be imposed
on, incurred by or asserted against Administrative Agent in any way relating to or arising out of this Agreement or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or the enforcement
of any of the terms hereof or thereof or of any such other documents; provided, however, that no Lender shall be liable for any of the foregoing to the extent they arise from Administrative Agent’s gross negligence or willful
misconduct. Administrative Agent shall be fully justified in refusing to take or to continue to take any action hereunder or under any other Credit Facility Document unless it shall first be indemnified to its satisfaction by the Lenders against any
and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Without limitation of the foregoing, each Lender agrees to reimburse Administrative Agent promptly upon demand for its Proportionate
Share of any out-of-pocket expenses (including counsel fees) incurred by Administrative Agent in connection with the preparation, execution, administration or enforcement of, or legal advice in respect of rights or responsibilities under, the Credit
Facility Documents, to the extent that Administrative Agent is not reimbursed for such expenses by Borrower. Notwithstanding the foregoing, Administrative Agent shall not be entitled to indemnification or reimbursement of its expenses under this
Section 7.5 if it would not be entitled to indemnification or reimbursement under Sections 5.12 and 8.4, respectively. 

 7.6 Successor Administrative Agent. Administrative Agent may resign hereunder at any time
by giving written notice thereof to the Lenders, the LC Issuing Banks and Borrower. Upon any such resignation, the Required Lenders shall have the right to appoint the successor Administrative Agent hereunder with the consent of Borrower, which
consent shall not be unreasonably withheld or delayed; provided that Borrower’s consent shall not be required if an Event of Default shall have occurred and be continuing at such time hereunder. If no successor Administrative Agent shall
have been so appointed by the Required Lenders and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation (or such earlier day as shall be agreed by the Required
Lenders), the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders and the LC Issuing Banks with the consent of Borrower (such consent not to be unreasonably withheld or delayed) appoint the successor
Administrative Agent hereunder which shall be a Lender, if any Lender shall be willing to serve, and otherwise shall be a commercial bank having a combined capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as
Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the
retiring Administrative Agent shall be discharged from its duties and obligations as Administrative Agent only under the Credit Facility Documents. Except for any indemnity payments owed to the retiring Administrative Agent, all payments,
communications and determinations provided to be made by, to or through Administrative Agent shall instead by made by or to each Lender and LC Issuing Bank directly, until such time, if any, as the Required Lenders appoint a successor Administrative
Agent. The fees payable by Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between Borrower and such successor. After any retiring Administrative Agent’s resignation
hereunder as Administrative Agent, the provisions of this Article VII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent under the Credit Facility Documents. 

7.7 Authorization. Administrative Agent is hereby authorized by the Lenders to execute, deliver and perform each of the Credit Facility
Documents to which Administrative Agent is or is intended to be a party and each Lender agrees to be bound by all of the agreements of Administrative Agent contained in the Credit Facility Documents. Administrative Agent is further authorized by the
Lenders to enter into agreements supplemental hereto for the purpose of curing any formal defect, inconsistency, omission or ambiguity in this Agreement or any Credit Facility Document to which it is a party. 

7.8 Administrative Agent’s Other Roles; Other Agents. With respect to its Commitments, the Loans made by it and any Notes issued
to it, Administrative Agent shall have the same rights and powers hereunder as any other Lender and may exercise the same as though it were not Administrative Agent. The term “Lender” or “Lenders” shall, unless otherwise
expressly indicated or unless the context otherwise requires, include Administrative Agent in its individual capacity. Administrative Agent and its Affiliates may accept deposits from, lend money to, act as trustee under indentures of, own
securities of, act as the financial adviser or in any other advisory capacity for, and generally engage in any kind of business with Borrower or any other Person, without any duty to account therefor to the Lenders. Notwithstanding anything herein
to the contrary, the Arrangers, the Syndication Agents and the Documentation Agents named on the cover page of this Agreement shall not have any duties or liabilities under this Agreement, except in their capacity, if any, as Administrative Agent,
Lenders or LC Issuing Banks. 
 7.9 Amendments; Waivers. Subject to the provisions of this Section 7.9, unless otherwise
specified in this Agreement or another Credit Facility Document, the Required Lenders (or Administrative Agent with the consent in writing of the Required Lenders) and Borrower may enter into agreements supplemental hereto for the purpose of adding,
modifying or waiving any provisions to the Credit Facility Documents or changing in any manner the rights of the Lenders or Borrower hereunder or waiving any Inchoate Default or Event of Default; provided, however, that no such
supplemental agreement shall: 
 (a) Modify Section 2.1.4, 2.5.1, 2.5.2, 2.5.3 or 2.6.1 without the written consent of each Lender
affected thereby; or 

 (b) Reduce the percentage specified in the definition of Required Lenders, without the written
consent of each Lender; or 
 (c) Permit Borrower to assign its rights under this Agreement, without the written consent of each Lender; or

 (d) Amend this Section 7.9 or amend any defined term set forth herein, in any Credit Facility Document or in Exhibit A, to the
extent such amendment would have the effect of violating the effect of the provisions of this Section 7.9, without the written consent of each Lender; or 

(e) Release any collateral from a lien securing the Obligations of Borrower hereunder or release any funds from any account otherwise than in
accordance with the terms hereof, without the written consent of each Lender; or 
 (f) Extend the maturity of any Loans or Reimbursement
Obligations (including any extension of any Maturity Date) or any Notes or reduce the principal amount thereof, without the written consent of each Lender affected thereby; or 

(g) Reduce the rate or change the time of payment of interest due on any Loan, Reimbursement Obligation or any Note, without the written
consent of each Lender affected thereby; or 
 (h) Reduce the amount or change the time of payment of any fee or other amount due or
payable without the written consent of each Lender affected thereby; or 
 (i) Increase the amount of the Commitment of any Lender without
the written consent of such Lender. 
 provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of
Administrative Agent, any LC Issuing Bank or any Swingline Lender hereunder without the prior written consent of Administrative Agent, such LC Issuing Bank or such Swingline Lender, as the case may be. 

7.10 Withholding Tax. 

7.10.1 If the forms or other documentation required by Section 2.5.7 are not delivered to Administrative Agent, then Administrative Agent
may withhold from any interest payment to any Lender not providing such forms or other documentation, an amount equivalent to the applicable withholding tax. 

7.10.2 If the Internal Revenue Service or any authority of the United States or other jurisdiction asserts a claim that Administrative Agent
did not properly withhold tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or because such Lender failed to notify Administrative Agent of a change in circumstances
which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason) such Lender shall indemnify Administrative Agent fully for all amounts paid, directly or indirectly, by Administrative Agent as tax or
otherwise, including penalties and interest, together with all expenses incurred, including legal expenses, allocated staff costs, and any out of pocket expenses. Borrower shall not be responsible for any amounts paid or required to be paid by a
Lender under this Section 7.10.2. 

 7.10.3 If any Lender sells, assigns, grants participations in, or otherwise transfers its rights
under this Agreement, the purchaser, assignee, transferee or participant shall comply with and be bound by the terms of Sections 2.5.7, 7.10.1 and 7.10.2 as though it were such Lender. 

7.11 General Provisions as to Payments. Administrative Agent shall promptly distribute to each Lender its pro rata share of each
payment of principal and interest payable to the Lenders on the Loans and of fees hereunder received by Administrative Agent for the account of the Lenders and of any other amounts owing under the Loans. The payments made for the account of each
Lender shall be made, and distributed to it, for the account of (a) its domestic lending office in the case of payments of principal of, and interest on, its Base Rate Loans, (b) its domestic or foreign lending office, as each Lender may
designate in writing to Administrative Agent, in the case of payments of principal of, and interest on, its LIBOR Loans and (c) its domestic lending office, or such other lending office as it may designate for the purpose from time to time, in
the case of payments of fees and other amounts payable hereunder. Each Lender shall have the right to alter its designated domestic lending office upon notice to Administrative Agent and Borrower. 

7.12 Participations. 

7.12.1 Nothing herein provided shall prevent any Lender from selling a participation in its Commitments (and/or Loans made thereunder) to one
or more financial institutions or other entities (a “Participant”); provided that (a) no such sale of a participation shall alter such Lender’s or Borrower’s obligations hereunder and (b) any agreement
pursuant to which any Lender may grant a participation in its rights with respect to its Commitments (and/or Loans) shall provide that, with respect to such Commitments (and/or Loans), subject to the following proviso, such Lender shall retain the
sole right and responsibility to exercise the rights of such Lender, and enforce the obligations of Borrower relating to such Commitments (and/or Loans), including the right to approve any amendment, modification or waiver of any provision of this
Agreement or any other Credit Facility Document and the right to take action to have the Notes declared due and payable pursuant to Article VI; provided, however, that such agreement may provide that such Lender will not, without the
consent of the relevant Participant, agree to any amendment, modification or waiver described in the first proviso to Section 7.9 that affects such Participant. Borrower agrees that each Participant shall be entitled to the benefits of Sections
2.5.4, 2.7.3 and 2.7.4 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 7.13; provided that such Participant (1) shall be subject to the requirements and limitations therein,
including the requirements under Section 2.5.7 (it being understood that the documentation required under Section 2.5.7 shall be delivered to the participating Lender); (2) agrees to be subject to the provisions of Sections 2.6.2
and 2.9 as if it were an assignee under Section 7.13; and (3) shall not be entitled to receive any greater payment under Sections 2.5.4, 2.7.3 and 2.7.4 with respect to any participation than its participating Lender would have been
entitled to receive, except to the extent such entitlement to receive a greater payment results from a Change of Law that occurs after such Participant acquired the applicable participation. To the extent permitted by law, each Participant also
shall be entitled to the benefits of Section 8.2 as though it were a Lender, provided such Participant agrees to be subject to Section 2.6.2 as though it were a Lender. Each Lender that sells a participation shall, acting solely for
this purpose as a non-fiduciary agent of Borrower (and such agency being solely for tax purposes), maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to
any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitment, Loan, Letter of Credit, promissory note or other obligations under this Agreement or any other Credit Facility
Document) except if additional payments under Sections 2.5.4, 2.7.3 and 2.7.4 are requested with respect to such Participant and except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit,
promissory note or other obligation is at all times maintained in registered form 

 
within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations (and any successor provisions). The entries in the Participant Register shall be conclusive
absent manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of
doubt, Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

7.12.2 Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special
purpose funding vehicle (a “SPC”), identified as such in writing from time to time by the Granting Lender to Administrative Agent and Borrower, the option to provide to Borrower all or any part of any Loan that such Granting Lender
would otherwise be obligated to make to Borrower pursuant to this Agreement; provided that (a) nothing herein shall constitute a commitment by any SPC to make any Loan, and (b) if an SPC elects not to exercise such option or
otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same
extent, and as if, such Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting
Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial
paper or other senior indebtedness of any SPC, it will not institute against, or join any other person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United
States or any state thereof. In addition, notwithstanding anything to the contrary contained in this Section 7.12, any SPC may (x) with notice to, but without the prior written consent of, Borrower and Administrative Agent and without
paying any processing fee therefor, assign all or a portion of its interests in any Loans to the Granting Lender or to any financial institutions (consented to by Borrower and Administrative Agent) providing liquidity and/or credit support to or for
the account of such SPC to support the funding or maintenance of Loans and (y) disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper
dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPC. This Section 7.12 may not be amended without the written consent of all SPCs having outstanding Loans or Commitments hereunder. 

7.13 Transfer of Commitments. 

7.13.1 Assignments. Notwithstanding anything else herein to the contrary (but subject to Section 7.12.2), any Lender may assign to
one or more Persons all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent, such consent, in each case, not to be
unreasonably withheld or delayed, of: 
 (i) Borrower, provided that no consent of Borrower shall be required for an
assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; provided, further, that Borrower shall be deemed to have consented to an assignment
unless it shall have objected thereto by written notice to Administrative Agent within five Banking Days after having received notice thereof; 

(ii) Administrative Agent; provided that no consent of Administrative Agent shall be required for an assignment to a
Lender; 
 (iii) each LC Issuing Bank; and 

(iv) each Swingline Lender. 

 Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount
of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered
to Administrative Agent) shall not be less than $5,000,000 unless each of Borrower and Administrative Agent otherwise consent; provided that no such consent of Borrower shall be required if an Event of Default has occurred and is continuing;

 (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under this Agreement, except that this clause (B) shall not apply to a Swingline Lender’s rights and obligations in respect of Swingline Loans; 

(C) the parties to each assignment shall execute and deliver to Administrative Agent an Assignment and Assumption, together
with a processing and recordation fee of $3,500; and 
 (D) the assignee, if it shall not be a Lender, shall deliver to
Administrative Agent an Administrative Questionnaire. 
 Subject to acceptance and recording thereof pursuant to this Section 7.13.1,
from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption
covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.5.4, 2.7.3, 2.8, 5.12 and 8.4). Any assignment
or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 7.13.1 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in
accordance with Section 7.12. 
 Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an
assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in this Section 7.13.1 and any written consent to such assignment
required hereby, Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the assignee shall have failed to make any payment
required to be made by it pursuant to Section 2.2.7, 2.5.6, 2.10.3 or 7.5, Administrative Agent shall have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment
shall have been made in full, together with all accrued interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this Section 7.13.1. 

7.13.2 Register. Administrative Agent, acting solely for this purpose as a non-fiduciary agent of Borrower (and such agency being
solely for tax purposes), shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount of the
Loans and any Reimbursement Obligations owing to, each Lender and LC Issuing Bank pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and Borrower, Administrative Agent,
the LC Issuing Banks and the Lenders shall treat each Person whose name is recorded in the Register 

 
pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by Borrower, any LC
Issuing Bank and any Lender (with respect to its own interests only), at any reasonable time and from time to time upon reasonable prior notice. This Section 7.13 shall be construed so that the Commitments, Loans, Letter of Credits, promissory
notes or other obligations are at all times maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations (and any successor provisions). 

7.13.3 No Assignments to Certain Persons. Anything in this Section 7.13 to the contrary notwithstanding, no Lender may assign or
participate any interest in any Loan held by it hereunder to (i) Borrower or any of its Affiliates or Subsidiaries without the prior consent of each Lender, (ii) any Defaulting Lender or any of its Subsidiaries, or any Person who, upon
becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (ii) or (iii) a natural person. 

7.13.4 Assignability as to Collateral. Notwithstanding any other provision contained in this Agreement or any other Credit Facility
Document to the contrary, any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any such pledge or assignment to a Federal Reserve
Bank or any central bank having jurisdiction over such Lender; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such
Lender as a party hereto. 
 ARTICLE VIII 

MISCELLANEOUS 
 8.1
Addresses. Any communications between the parties hereto or notices provided herein to be given shall be given to the following addresses: 
  

			
	If to Administrative Agent:	  	 JPMorgan Chase Bank, N.A.
 500 Stanton
Christiana Road
 Ops 2 Floor 3
 Newark, DE 19713

Attention: Evan Zacharias
 Telephone No.: (302) 634-1405

Telecopy No.: (302) 634-1417
 Email:
evan.zacharias@jpmorgan.com
  
 Or

 
 JPMorgan Chase Bank, N.A.

500 Stanton Christiana Road
 Ops 2 Floor 3

Newark, DE 19713
 Attention: Brittany Tidwell

Telephone No.: (302) 634-2225
 Telecopy No.: (302) 634-1417

Email: brittany.m.tidwell@jpmorgan.com

			
	If to JPMCB as LC Issuing Bank:	  	 JPMorgan Chase Bank, N.A.
 500 Stanton
Christiana Road
 Ops 2 Floor 3
 Newark, DE 19713

Attention: Evan Zacharias
 Telephone No.: (302) 634-1405

Telecopy No.: (302) 634-1417
 Email:
evan.zacharias@jpmorgan.com
 Or
  

JPMorgan Chase Bank, N.A.
 500 Stanton Christiana Road

Ops 2 Floor 3
 Newark, DE 19713

Attention: Brittany Tidwell
 Telephone No.: (302) 634-2225

Telecopy No.: (302) 634-1417
 Email:
brittany.m.tidwell@jpmorgan.com

		
	If to JPMCB as Swingline Lender:	  	 JPMorgan Chase Bank, N.A.
 500 Stanton
Christiana Road
 Ops 2 Floor 3
 Newark, DE 19713

Attention: Evan Zacharias
 Telephone No.: (302) 634-1405

Telecopy No.: (302) 634-1417
 Email:
evan.zacharias@jpmorgan.com
  
 Or

 
 JPMorgan Chase Bank, N.A.

500 Stanton Christiana Road
 Ops 2 Floor 3

Newark, DE 19713
 Attention: Brittany Tidwell

Telephone No.: (302) 634-2225
 Telecopy No.: (302) 634-1417

Email: brittany.m.tidwell@jpmorgan.com

		
	If to Citibank as Swingline Lender:	  	 Citibank, N.A.
 1615 Brett Road, Ops III

New Castle, Delaware 19720
 Attention: Owen Coyle

Telephone No.: 302-894-6123
 Fax: 212-994-0961

Email: owen.leonard.coyle@citi.com

			
	If to Borrower:	  	 New Mexico Gas Company, Inc.
 702 North Franklin
Street
 Tampa, FL 33602
 Attention: Corporate Secretary

Telephone No.: (813) 228-4723
 Telecopy No.: (813) 228-4262

 
 with a copy to:
  

TECO Energy, Inc.
 702 North Franklin Street

Tampa, FL 33602
 Attention: Kim M. Caruso

Telephone No.: (813) 228-1352
 Telecopy No.: (813)
228-4262

		
	If to any other Lender:	  	To the address specified on such Lender’s Administrative Questionnaire.

 All notices or other communications required or permitted to be given hereunder shall be in writing and shall
be considered as properly given (a) if delivered in person, (b) if sent by overnight delivery service, (c) if mailed by first class United States Mail, postage prepaid, registered or certified with return receipt requested or
(d) if sent by facsimile. Notice so given shall be effective upon receipt by the addressee, except that communication or notice so transmitted by telecopy or other direct written electronic means shall be deemed to have been validly and
effectively given on the day (if a Banking Day and, if not, on the next following Banking Day) on which it is transmitted if transmitted before 4:00 p.m., recipient’s time, and, if transmitted after that time, on the next following Banking
Day; provided, however, that if any notice is tendered to an addressee and the delivery thereof is refused by such addressee, such notice shall be effective upon such tender. Any party shall have the right to change its address for
notice hereunder to any other location within the continental United States by giving of 30 days’ notice to the other parties in the manner set forth above; provided, however, that a Lender shall have the right to change its
address for notice hereunder by giving notice to Administrative Agent and Borrower only. 
 Notices and other communications to the Lenders
hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Section 2 unless otherwise agreed by Administrative
Agent and the applicable Lender. Administrative Agent or Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of
such procedures may be limited to particular notices or communications. 
 8.2 Additional Security; Right to Set-Off. Any deposits or
other sums at any time credited or due from the Lenders (including the LC Issuing Banks) and any securities or other property of Borrower in the possession of Administrative Agent may at all times be treated as collateral security for the payment of
the Loans and any Notes and all other obligations of Borrower to the Lenders (including the LC Issuing Banks) under this Agreement and the other Credit Facility Documents, and Borrower hereby pledges to Administrative Agent for the benefit of the
Lenders (including the LC Issuing Banks) and grants Administrative Agent a security interest in and to all such deposits, sums, securities or other property. Regardless of the adequacy of any other collateral, Administrative Agent may execute or
realize on the Lenders security interest in any such deposits or other sums credited by or due from the Lenders to Borrower, and may apply any such deposits or other sums to or set them off against Borrower’s obligations to the Lenders under
any Notes and this Agreement at any time after the occurrence and during the continuance of any Event of Default. 

 8.3 Delay and Waiver. No delay or omission to exercise any right, power or remedy accruing
to the Lenders upon the occurrence of any Event of Default, Inchoate Default or any breach or default of Borrower under this Agreement or any other Credit Facility Document shall impair any such right, power or remedy of the Lenders, nor shall it be
construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single Event of Default, Inchoate Default or other breach or default be
deemed a waiver of any other Event of Default, Inchoate Default or other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of Administrative Agent and/or the Lenders
of any Event of Default, Inchoate Default or other breach or default under this Agreement or any other Credit Facility Document, or any waiver on the part of Administrative Agent and/or the Lenders of any provision or condition of this Agreement or
any other Credit Facility Document, must be in writing and shall be effective only to the extent in such writing specifically set forth. All remedies, either under this Agreement or any other Credit Facility Document or by law or otherwise afforded
to Administrative Agent and the Lenders, shall be cumulative and not alternative. 
 8.4 Costs, Expenses and Attorneys’ Fees.
Borrower will pay to each of Administrative Agent and the Arrangers all of its reasonable costs and expenses in connection with the preparation, negotiation, closing and administering of this Agreement and the documents contemplated hereby and any
participation or syndication of the Loans or this Agreement, including the reasonable fees, expenses and disbursements of a single legal counsel, together with a single legal counsel in each applicable local jurisdiction, retained by the Arrangers
and Administrative Agent in connection with the preparation of such documents and any amendments hereof. Borrower will reimburse (a) Administrative Agent for all costs and expenses, including attorneys’ fees, expended or incurred by
Administrative Agent, and the Lenders for their internal out-of-pocket expenses in enforcing this Agreement or the other Credit Facility Documents in connection with an Event of Default or Inchoate Default, in actions for declaratory relief in any
way related to this Agreement or in collecting any sum which becomes due Administrative Agent, the LC Issuing Banks, the Swingline Lenders or the Lenders under the Credit Facility Documents and (b) Administrative Agent, the LC Issuing Banks,
the Swingline Lenders and the Lenders for their reasonable out-of-pocket expenses, including reasonable attorney fees, in the enforcement or protection of their rights under the Credit Facility Documents including in the case of a restructuring or
other workout or negotiation of the Loans or other extensions of credit hereunder in connection with the bankruptcy or insolvency of Borrower or any payment default requiring, among other things, amendments to the interest rates and/or repayment
dates for the Loans. Borrower shall not be responsible for any counsel fees of Administrative Agent, the LC Issuing Banks or the Lenders other than as set forth above. 

8.5 Entire Agreement. This Agreement and any agreement, document or instrument attached hereto or referred to herein integrate all the
terms and conditions mentioned herein or incidental hereto and supersede all oral negotiations and prior writings in respect to the subject matter hereof. In the event of any conflict between the terms, conditions and provisions of this Agreement
and any such agreement, document or instrument, the terms, conditions and provisions of this Agreement shall prevail. 
 8.6 Governing
Law. THIS AGREEMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO THE EXTENT NOT OTHERWISE EXPRESSLY PROVIDED FOR THEREIN), SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICTS OF
LAWS (OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

 8.7 Severability. In case any one or more of the provisions contained in this Agreement
should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

8.8 Headings. Paragraph headings have been inserted in this Agreement as a matter of convenience for reference only; such paragraph
headings are not a part of this Agreement and shall not be used in the interpretation of any provision of this Agreement. 
 8.9
Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP and practices consistent with those applied in the preparation of the financial statements submitted by Borrower to
Administrative Agent, and all financial data submitted pursuant to this Agreement shall be prepared in accordance with such principles and practices, as in effect from time to time; provided that, if Borrower notifies Administrative Agent
that Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if Administrative Agent notifies Borrower
that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on
the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Indebtedness of the Obligors shall be deemed to be
carried at one hundred percent of the outstanding principal amount thereof, and the effects of FASB ASC 805 and FASB ASC 825 shall be disregarded with respect to the reporting of the principal amount of Indebtedness. 

8.10 No Partnership, Etc. The Lenders and Borrower intend that the relationship between them shall be solely that of creditor and
debtor. Nothing contained in this Agreement, the Notes or in any of the other Credit Facility Documents shall be deemed or construed to create a partnership, tenancy-in-common, joint tenancy, joint venture or co-ownership by or between the Lenders
and Borrower or any other Person. 
 8.11 Limitation on Liability. No claim shall be made by Borrower or any of its Affiliates
against the Lenders or any of their Affiliates, directors, employees, attorneys or agents for any loss of profits, business or anticipated savings, special or punitive damages or any indirect or consequential loss whatsoever in respect of any breach
or wrongful conduct (whether or not the claim therefor is based on contract, tort or duty imposed by law), in connection with, arising out of or in any way related to the transactions contemplated by this Agreement or the other Credit Facility
Documents or any act or omission or event occurring in connection therewith; and Borrower hereby waives, releases and agrees not to sue upon any such claim for any such damages, whether or not accrued and whether or not known or suspected to exist
in its favor. 
 8.12 Waiver of Jury Trial. THE LENDERS, ADMINISTRATIVE AGENT AND BORROWER HEREBY KNOWINGLY, VOLUNTARILY, AND
INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY OTHER CREDIT FACILITY DOCUMENT, OR ANY COURSE OR CONDUCT, COURSE OF
DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), OR ACTIONS OF ADMINISTRATIVE AGENT, THE LENDERS OR BORROWER. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDERS AND ADMINISTRATIVE AGENT TO ENTER INTO THIS AGREEMENT. 

8.13 Consent to Jurisdiction. The Lenders, Administrative Agent and Borrower agree that any legal action or proceeding by or against
Borrower or with respect to or arising out of this Agreement, the Notes, or any other Credit Facility Document may be brought in or removed to the courts of the State of 

 
New York, in and for the County of New York, or of the United States of America for the Southern District of New York, or any appellate court thereof, as Administrative Agent may elect. By
execution and delivery of this Agreement, the Lenders, Administrative Agent and Borrower accept, for themselves and in respect of their property, generally and unconditionally, the jurisdiction of the aforesaid courts. The Lenders, Administrative
Agent and Borrower irrevocably consent to the service of process out of any of the aforementioned courts in any manner permitted by law. Nothing herein shall affect the right of Administrative Agent to bring legal action or proceedings in any other
competent jurisdiction. The Lenders, Administrative Agent and Borrower further agree that the aforesaid courts of the State of New York and of the United States of America shall have exclusive jurisdiction with respect to any claim or counterclaim
of Borrower based upon the assertion that the rate of interest charged by the Lenders on or under this Agreement, the Loans and/or the other Credit Facility Documents is usurious. The Lenders, Administrative Agent and Borrower hereby waive any right
to stay or dismiss any action or proceeding under or in connection with this Agreement or any other Credit Facility Document brought before the foregoing courts on the basis of forum non-conveniens. 

8.14 Knowledge and Attribution. References in this Agreement and the other Credit Facility Documents to the “knowledge,”
“best knowledge” or facts and circumstances “known to” Borrower, and all like references, mean facts or circumstances of which a Responsible Officer of Borrower has actual knowledge. 

8.15 Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns. Borrower may not assign or otherwise transfer any of their rights under this Agreement, and the Lenders may not assign or otherwise transfer any of their rights under this Agreement except as provided in
Article VII. 
 8.16 Counterparts. This Agreement may be executed in one or more duplicate counterparts and when signed by all of the
parties listed below shall constitute a single binding agreement. Delivery of an executed counterpart of a signature page of this Agreement by fax or other electronic transmission shall be effective as delivery of a manually executed counterpart of
this Agreement. 
 8.17 Patriot Act Notice. Each Lender and Administrative Agent (for itself and not on behalf of any Lender) hereby
notifies Borrower that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower and other information that will
allow such Lender or Administrative Agent, as applicable, to identify Borrower in accordance with the Patriot Act. Borrower shall, and shall cause each of its Significant Subsidiaries to, provide, to the extent commercially reasonable, such
information and take such actions as are reasonably requested by Administrative Agent or any Lender in order to assist Administrative Agent and the Lenders in maintaining compliance with the Patriot Act. 

8.18 Payments Set Aside. To the extent that any payment by or on behalf of Borrower is made to Administrative Agent, any LC Issuing
Bank or any Lender, or Administrative Agent, any LC Issuing Bank or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential,
set aside or required (including pursuant to any settlement entered into by Administrative Agent, such LC Issuing Bank or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under
any Bankruptcy Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such
setoff had not occurred, and (b) each Lender and each LC Issuing Bank severally agrees to pay to Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by Administrative Agent, plus
interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Effective Rate from time to time in effect. 

 8.19 No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Credit Facility Document), Borrower acknowledges and agrees, and acknowledge its Affiliates’ understanding, that
(a) the arranging and other services regarding this Agreement provided by Administrative Agent, the LC Issuing Banks, the Swingline Lenders, the Lenders, the Syndication Agents and the Arrangers are arm’s-length commercial transactions
between Borrower and its Affiliates, on the one hand, and Administrative Agent, the LC Issuing Banks, the Swingline Lenders, the Lenders, the Syndication Agents and the Arrangers, on the other hand, (b) Borrower has consulted their own legal,
accounting, regulatory and tax advisors to the extent that they have deemed appropriate, (c) Borrower is are capable of evaluating, and understand and accept, the terms, risks and conditions of the transactions contemplated hereby and by the
other Credit Facility Documents, (d) Administrative Agent, LC Issuing Banks, the Swingline Lenders, the Lenders, the Syndication Agents and the Arrangers each is and has been acting solely as a principal and, except as expressly agreed in
writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for Borrower or any of its Affiliates, or any other Person, (e) none of Administrative Agent, the LC Issuing Banks, the Swingline
Lenders, the Lenders, the Syndication Agents and the Arrangers has any obligation to Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Credit
Facility Documents and (f) Administrative Agent, the LC Issuing Banks, the Swingline Lenders, the Lenders, the Syndication Agents and the Arrangers and their respective Affiliates may be engaged, for their own accounts or the accounts of
customers, in a broad range of transactions that involve interests that differ from those of Borrower and its Affiliates, and none of Administrative Agent, the LC Issuing Banks, the Swingline Lenders, the Lenders, the Syndication Agents and the
Arrangers has any obligation to disclose any of such interests to Borrower or its Affiliates. To the fullest extent permitted by law, Borrower hereby waives and releases any claims that they may have against Administrative Agent, the LC Issuing
Banks, the Swingline Lenders, the Lenders, the Syndication Agents and the Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed by their officers
thereunto duly authorized as of the day and year first above written. 
  

			
	BORROWER:
	
	TECO ENERGY, INC.
		
	By:	 	 /s/ Kim M. Caruso

	Name:	 	Kim M. Caruso
	Title:	 	Treasurer

 
			
	LENDERS:
	
	 JPMORGAN CHASE BANK, N.A.
 as
Administrative Agent, LC Issuing Bank, Swingline Lender and Lender

		
	By:	 	 /s/ Peter Christensen

	Name:	 	Peter Christensen
	Title:	 	Vice President

 
			
	CITIBANK, N.A.
	as Swingline Lender and Lender
		
	By:	 	 /s/ Amit Vasani

	Name:	 	Amit Vasani
	Title:	 	Vice President

 
			
	MORGAN STANLEY BANK, N.A.,
	as Lender
		
	By:	 	 /s/ Kelly Chin

	Name:	 	Kelly Chin
	Title:	 	Authorized Signatory

 
			
	ROYAL BANK OF CANADA,
	as Lender
		
	By:	 	 /s/ Rahul D. Shah

	Name:	 	Rahul D. Shah
	Title:	 	Authorized Signatory

 
			
	SUNTRUST BANK,
	as Lender
		
	By:	 	 /s/ Andrew Johnson

	Name:	 	Andrew Johnson
	Title:	 	Director

 
			
	THE BANK OF NEW YORK MELLON,
	as Lender
		
	By:	 	 /s/ Richard K. Fronapfel, Jr.

	Name:	 	Richard K. Fronapfel, Jr.
	Title:	 	Vice President

 
			
	UNION BANK, N.A.,
	as Lender
		
	By:	 	 /s/ Eric Otieno

	Name:	 	Eric Otieno
	Title:	 	Vice President

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Lender
		
	By:	 	 /s/ Nick Schmiesing

	Name:	 	Nick Schmiesing
	Title:	 	Vice President

 
			
	FIFTH THIRD BANK, AN OHIO BANKING CORPORATION,
	as Lender
		
	By:	 	 /s/ John A. Marian

	Name:	 	John A. Marian
	Title:	 	Vice President

 
			
	THE BANK OF NOVA SCOTIA,
	as Lender
		
	By:	 	 /s/ Thane Rattew

	Name:	 	Thane Rattew
	Title:	 	Managing Director

 
			
	THE NORTHERN TRUST COMPANY,
	as Lender
		
	By:	 	 /s/ Patrick Cowan

	Name:	 	Patrick Cowan
	Title:	 	Senior Vice President

 SCHEDULE 1 

LENDERS AND COMMITMENTS 
  

					
	 Lender
	  	Amount of Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	15,800,000	  
	 Citibank, N.A.
	  	$	15,800,000	  
	 Morgan Stanley Bank, N.A.
	  	$	15,800,000	  
	 Royal Bank of Canada
	  	$	11,500,000	  
	 SunTrust Bank
	  	$	11,500,000	  
	 The Bank of New York Mellon
	  	$	11,500,000	  
	 Union Bank, N.A.
	  	$	11,500,000	  
	 Wells Fargo Bank, National Association
	  	$	11,500,000	  
	 Fifth Third Bank, An Ohio Banking Corporation
	  	$	6,700,000	  
	 The Bank of Nova Scotia
	  	$	6,700,000	  
	 The Northern Trust Company
	  	$	6,700,000	  
		  	  
	  
	 
		  	$	125,000,000.00	  

 SCHEDULE 5.3.3 

EXISTING LIENS 
 During the time TECO
is the Borrower: 
 Indenture of Mortgage dated as of August 1, 1946, between Tampa Electric Company and U.S. Bank National Association, as
successor to State Street Bank and Trust Company, as Trustee, as supplemented and amended from time to time so long as no such amendment expands the lien granted thereunder to cover additional assets (no bonds currently outstanding). 

  
 SCHEDULE 5.3.3 

 EXHIBIT A 

to the Credit Agreement 

DEFINITIONS 

“Acquisition” means the acquisition by TECO of NMG pursuant to the Stock Purchase Agreement dated as of May 25, 2013 by
and among Continental Energy Systems LLC, TECO and New Mexico Gas Intermediate, Inc. 
 “Additional Commitment Lender” has
the meaning given in Section 2.3.4 of the Credit Agreement. 
 “Administrative Agent” means JPMorgan Chase Bank, N.A.,
acting in its capacity as administrative agent for the Lenders under the Credit Agreement, or its successor appointed pursuant to the terms of the Credit Agreement. 

“Administrative Agent’s Office” means Administrative Agent’s address and, as appropriate, account as set forth in
Section 8.1 of the Credit Agreement, or such other address or account as Administrative Agent may from time to time notify to Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by Administrative Agent. 

“Affiliates” of a specified Person means any other Person that directly, or indirectly through one or more intermediaries,
controls, is controlled by or is under common control with the Person specified, or who holds or beneficially owns 25% or more of the Equity Interest in the Person specified or 25% or more of any class of voting securities of the Person specified.

 “Alternate Base Rate” means, for any day, a rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%)
equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.50% and (c) the LIBO Rate for the offering of Dollar deposits for a one month Interest Period
commencing on such day plus 1.00%. For purposes of clause (c) of this definition, such LIBO Rate for any day shall be determined by Administrative Agent based upon the rate appearing on Reuters LIBOR01 Page and otherwise in accordance with the
definition of “LIBO Rate”, except that (i) if a given day is a Banking Day, such determination shall be made on such day (rather than two Banking Days prior to the commencement of an Interest Period) or (ii) if a given day is not
a Banking Day, such rate for such day shall be the rate determined by Administrative Agent pursuant to the preceding clause (i) for the most recent Banking Day preceding such day. If for any reason Administrative Agent shall have determined
that it is unable to ascertain the Federal Funds Effective Rate, the Base Rate shall be determined without regard to clause (b) hereof, until the circumstances giving rise to such inability no longer exist. Any change in the Base Rate due to a
change in the Prime Rate, the Federal Funds Effective Rate or such LIBO Rate shall be effective on the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or such LIBO Rate, as the case may be. 

“Applicable Period” has the meaning given in the definition of Applicable Rate below. 

  
 EXHIBIT A-1 

 “Applicable Rate” means, subject to the last paragraph of this definition below,
for any day, with respect to any Base Rate Loan or LIBOR Loan, or with respect to the Facility Fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Applicable LIBOR Margin”,
“Applicable Base Rate Margin” or “Facility Fee Rate”, as the case may be, based upon the ratings by either S&P or Moody’s, respectively, applicable on such date to the Index Debt from and after the Commitment Effective
Date: 
  

																									
	 	  	LEVEL 1	 	 	LEVEL 2	 	 	LEVEL 3	 	 	LEVEL 4	 	 	LEVEL 5	 	 	LEVEL 6	 
	 S&P/ Moody’s Ratings for Index Debt
	  	 
 	A/A2 or
higher	  
  	 	 	A-/A3	  	 	 	BBB+/Baa1	  	 	 	BBB/Baa2	  	 	 	BBB-/Baa3	  	 	 
 	BB+/Ba1
or lower	  
  
							
	 Applicable Base Rate Margin
	  	 	0.00	% 	 	 	0.00	% 	 	 	0.075	% 	 	 	0.275	% 	 	 	0.475	% 	 	 	0.650	% 
							
	 Applicable LIBOR Margin
	  	 	0.775	% 	 	 	1.00	% 	 	 	1.075	% 	 	 	1.275	% 	 	 	1.475	% 	 	 	1.650	% 
							
	 Facility Fee Rate
	  	 	0.10	% 	 	 	0.125	% 	 	 	0.175	% 	 	 	0.225	% 	 	 	0.275	% 	 	 	0.350	% 

 For purposes of the foregoing, (i) if neither Moody’s nor S&P shall have in effect a rating for the Index Debt
(other than by reason of the circumstances referred to in the last sentence of this paragraph), then the Applicable Rate shall be determined in accordance with the next following paragraph; (ii) if either Moody’s or S&P, but not both,
shall have in effect a rating for the Index Debt, then the Applicable Rate shall be determined by reference to that rating; (iii) if the ratings established or deemed to have been established by Moody’s and S&P for the Index Debt shall
fall within different Categories, the Applicable Rate shall be determined by reference to the higher of the two ratings, provided that if one of the two ratings is two or more Levels lower than the other rating, the Applicable Rate shall be
determined by reference to the Level next above that of the lower of the two ratings; and (iv) if the ratings established or deemed to have been established by Moody’s or S&P for the Index Debt shall be changed (other than as a result
of a change in the rating system of Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency, irrespective of when notice of such change shall have been furnished by
Borrower to Administrative Agent pursuant to Section 5.10 of the Credit Agreement or otherwise. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately
preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, or if either such rating agency shall ceases to be in the business of rating corporate debt obligations, Borrower and the Lenders
shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Rate shall be determined by
reference to the rating most recently in effect prior to such change or cessation. 
 Notwithstanding the foregoing, for all periods prior
to the first date on which the Borrower has received a rating from either Moody’s or S&P, and for all periods during which neither Moody’s nor S&P has in effect a rating for the Index Debt (other than by reason of the circumstances
referred to in the last sentence of the immediately preceding paragraph), the Applicable Rate, for any day, with respect to any Base Rate Loan or LIBOR Loan, or with respect to the Facility Fees payable hereunder, as the case may be, shall be
(i) from the Commitment Effective Date until the date of delivery of the certificate pursuant to Section 5.9.3 in substance and form satisfactory to the Administrative Agent setting out the Total Debt to

  
 EXHIBIT A-2 

 
Capitalization ratio and the financial statements for the period ending after the Commitment Effective Date for which financial statements are delivered pursuant to Section 5.9.1 or 5.9.2,
(x) with respect to Base Rate Loans, 0.075 % per annum, (y) with respect to LIBOR Rate Loans, 1.075% per annum and (z) with respect to the Facility Fee, 0.175% per annum; and (ii) thereafter, a percentage, per
annum, determined by reference to the Total Debt to Capitalization ratio of Borrower in effect as of the end of the most recent accounting period for which financial statements have been delivered pursuant to Section 5.9.1 or 5.9.2 as set forth
below under the caption “Applicable LIBOR Margin”, “Applicable Base Rate Margin” or “Facility Fee Rate”. 
  

									
	 	  	 LEVEL 1
	  	 LEVEL 2
	  	 LEVEL 3
	  	 LEVEL 4

	BASIS FOR PRICING	  	Total Debt to Capitalization Less than 40%	  	Total Debt to Capitalization Equal to or Greater than 40% but Less Than or Equal to 50%	  	Total Debt to Capitalization Greater than 50% but Less Than or Equal to 60%	  	Total Debt to Capitalization Greater than 60%
					
	Applicable Base Rate Margin	  	0 bps	  	7.5 bps	  	27.5 bps	  	65.0 bps
					
	Applicable LIBOR Margin	  	100 bps	  	107.5 bps	  	127.5 bps	  	165.0 bps
					
	Facility Fee	  	12.5 bps	  	17.5 bps	  	22.5 bps	  	35.0 bps

 No change in the Applicable Rate shall be effective until three (3) Business Days after the date on which
the Administrative Agent shall have received the applicable financial statements and a certificate providing the Total Debt to Capitalization ratio pursuant to Section 5.9.3 calculating the Total Debt to Capitalization Ratio of the Borrower. At
any time the Company has not submitted to the Administrative Agent the applicable information as and when required under Section 5.9 the Applicable Rate shall be determined as if the Total Debt to Capitalization ratio of the Borrower was in
excess of 60.0%. Within one Business Day of receipt of the applicable information under Section 5.9, the Administrative Agent shall give each Lender electronic notice of the Applicable Rate in effect from such date. In the event that any
financial statement or certificate delivered pursuant to Section 5.9.3 is shown to be inaccurate (at a time when this Agreement is in effect and unpaid Obligations under this Agreement are outstanding (other than indemnities and other
contingent obligations not yet due and payable)), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Rate for any period (an “Applicable Period”) than the Applicable Rate applied for such
Applicable Period, then (x) the Borrower shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.9.3 for such Applicable Period, (y) the Applicable Rate shall be determined based on the Total
Debt to Capitalization Ratio of the Borrower set forth in such correct notice and (z) the Borrower shall immediately pay to the Administrative Agent the accrued additional interest owing as a result of such increased Applicable Rate for such
Applicable Period. Nothing in this paragraph shall limit the right of the Administrative Agent or any Lender under Section 2.1.2 or Article 6. 

“Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in
bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or
manages a Lender. 
 “Arrangers” means entities listed as Joint Lead Arrangers and Joint Bookrunners on the cover page of
this Agreement. 

  
 EXHIBIT A-3 

 “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 7.13 of the Credit Agreement), and accepted by Administrative Agent, in the form of Exhibit B or any other form approved by Administrative Agent.

 “Assuming Lender” has the meaning given in Section 2.3.3 of the Credit Agreement. 

“Availability Period” means the period from and including the Commitment Effective Date to but excluding the Maturity Date.

 “Banking Day” means any day other than a Saturday, Sunday or other day on which banks are or are authorized to be closed
in New York, New York and, where such term is used in any respect relating to a LIBOR Loan, which is also a day on which dealings in Dollar deposits are carried out in the London interbank market. 

“Bankruptcy Event” shall be deemed to occur, with respect to any Person, if that Person shall institute a voluntary case
seeking liquidation or reorganization under a Bankruptcy Law, or shall consent to the institution of an involuntary case thereunder against it; or such Person shall file a petition or consent or shall otherwise institute any similar proceeding under
any other applicable Federal or state law, or shall consent thereto; or such Person shall apply for, or by consent or acquiescence there shall be an appointment of, a receiver, liquidator, sequestrator, trustee or other officer with similar powers
for itself or any substantial part of its assets; or such Person shall make a general assignment for the benefit of its creditors; or such Person shall admit in writing its inability to pay its debts generally as they become due; or if an
involuntary case shall be commenced seeking liquidation or reorganization of such Person under a Bankruptcy Law or any similar proceedings shall be commenced against such Person under any other applicable Federal or state law and (a) the
petition commencing the involuntary case is not timely controverted, (b) the petition commencing the involuntary case is not dismissed within 60 days of its filing, (c) an interim trustee is appointed to take possession of all or a
substantial portion of the property, and/or to operate all or any material part of the business of such Person and such appointment is not vacated within 60 days, or (d) an order for relief shall have been issued or entered therein; or a decree
or order of a court having jurisdiction in the premises for the appointment of a receiver, liquidator, sequestrator, trustee or other officer having similar powers, over such Person or all or a substantial part of its property shall have been
entered; or any other similar relief shall be granted against such Person under any applicable Federal or state law. 
 “Bankruptcy
Law” means Title 11, United States Code, and any other state or federal insolvency, reorganization, moratorium or similar law for the relief of debtors, or any successor statute. 

“Base Rate”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Borrower” means TECO,
until the satisfaction of the conditions precedent set forth in Section 3.2, at which point the Borrower will become NMG pursuant to the Joinder and Release Agreement, and TECO shall no longer be the Borrower. 

“Borrowing” means (a) Revolving Loans of the same Type or (b) a Swingline Loan. 

“Capitalization” means, as to Borrower, the sum of Total Debt and Consolidated Shareholders Equity, in each case, as of the
date of any determination thereof. 

  
 EXHIBIT A-4 

 “Capitalized Lease Obligations” means, as to any Person, all rental obligations
as lessee which, under GAAP, are or will be required to be capitalized on the books of such Person, in each case taken at the amount thereof accounted for as indebtedness in accordance with GAAP. 

“Cash Collateralize” means to pledge and deposit with or deliver to Administrative Agent, for the benefit of Administrative
Agent, any LC Issuing Bank or any Swingline Lender (as applicable) and the Lenders, as collateral for LC Obligations, Obligations in respect of Swingline Loans, or obligations of Lenders to fund participations in respect of either thereof (as the
context may require), cash or deposit account balances or, if the relevant LC Issuing Bank or Swingline Lender, as applicable, benefitting from such collateral agrees in its sole discretion, other credit support, in each case pursuant to
documentation in form and substance satisfactory to (a) Administrative Agent and (b) the relevant LC Issuing Bank or Swingline Lender (as applicable) (which documents are hereby consented to by the Lenders). “Cash Collateral”
shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Change of Law” means the occurrence after the date of this Agreement or, with respect to any Lender, such later date on
which such Lender becomes a party to this Agreement of: (a) the adoption of any law, rule, regulation or treaty, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority or
(c) the compliance by any Lender or any LC Issuing Bank (or, for purposes of Section 2.7.4 of the Credit Agreement, by any lending office of such Lender or by such Lender’s or such LC Issuing Bank’s holding company, if any) with
any request, guideline or directive (whether or not having the force of law) of any Governmental Authority; provided that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act
and all requests, rules, guidelines or directives thereunder issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision
(or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change of Law”, regardless of the date enacted, adopted or issued.

 “Citibank” means Citibank, N.A. 

“Commitment Effective Date” means the date (which shall not be later than September 25, 2014 when each of the conditions
precedent listed in Section 3.2 of the Credit Agreement has been satisfied (or waived in accordance with the terms of the Credit Agreement). 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Commitment” means, at any time with respect to each Lender, the commitment of such Lender to make Revolving Loans and to
acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced or
increased from time to time pursuant to Section 2.3.2 or Section 2.3.3 of the Credit Agreement, respectively, and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 7.13 of
the Credit Agreement. The initial amount of each Lender’s Commitment is set forth on Schedule 1, or in the Assignment and Assumption or other instrument entered into pursuant to this Agreement by which such Lender shall have assumed its
Commitment, as applicable. 
 “Commitment Increase” has the meaning given in Section 2.3.3 of the Credit Agreement.

 “Commitment Increase Date” has the meaning given in Section 2.3.3 of the Credit Agreement. 

  
 EXHIBIT A-5 

 “Confirmation of Interest Period Selection” has the meaning given in
Section 2.1.2.4(b) of the Credit Agreement. 
 “Consolidated Shareholders Equity” means, as of the date of any
determination, the consolidated tangible net worth of Borrower and its subsidiaries, and including (without duplication) amounts attributable to (a) junior subordinated debentures that do not contain any scheduled principal payments or
prepayments or any mandatory redemptions or mandatory repurchases prior to the date at least 91 days after the latest applicable Maturity Date, (b) Hybrid Equity Securities and (c) preferred stock to the extent excluded from Total Debt,
minus the value of minority interests in any of Borrower’s subsidiaries, and disregarding unearned compensation associated with Borrower’s employee stock ownership plan or other benefit plans, foreign currency translation
adjustments and other comprehensive income adjustments and amounts attributable to the non-cash effects of pension and other post-retirement benefits, all determined in accordance with GAAP. 

“Contingent Obligation” means, as to any Person, any obligation of such Person guaranteeing any Indebtedness or lease
obligation (each a “primary obligation”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person, whether or not contingent, (a) to
purchase any such primary obligation or any property constituting direct or indirect security therefor, (b) to advance or supply funds (i) for the purchase or payment of any such primary obligation or (ii) to maintain working capital
or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor or (c) otherwise to assure or hold harmless the holder of such primary obligation against loss in respect thereof;
provided, however, that the term Contingent Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be the
maximum probable liability in respect thereof (assuming such Person is required to perform thereunder) as determined in good faith by Borrower in accordance with GAAP. 

“Credit Agreement” or “Agreement” means the Credit Agreement dated as of December
[    ], 2013 among Borrower, the Lenders party hereto, the LC Issuing Banks party hereto and Administrative Agent, to which this Exhibit A is attached. 

“Credit Facility Documents” means, collectively, the Credit Agreement, any Notes, the Joinder and Release Agreement, the LC
Documents and any other letter agreements or similar documents entered into by Administrative Agent (in its capacity as administrative agent under the Credit Agreement) and Borrower in connection with the transactions contemplated by the Credit
Facility Documents mentioned above. 
 “Default Rate” means (a) (i) with respect to principal of any LIBOR Loan, the
interest rate per annum applicable to such LIBOR Loan, plus 2%, (ii) with respect to any Base Rate Loan or any Swingline Loan, the rate applicable to Base Rate Loans, plus 2% and (b) with respect to interest, fees and any
other amounts, the interest rate then applicable to Base Rate Loans, plus 2%. Interest computed with reference to the Default Rate shall be adjusted and calculated in the same manner as interest computed with reference to the Alternate Base
Rate or the LIBO Rate (as applicable). 
 “Defaulting Lender” means any Lender that (a) has failed, within two Banking
Days of the date required to be funded or paid, to (i) fund any portion of its Revolving Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to Administrative Agent, an LC
Issuing Bank, a Swingline Lender or any other Lender any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies Administrative Agent in writing that such failure is the result of such
Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified Borrower or Administrative Agent in writing, or has
made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or 

  
 EXHIBIT A-6 

 
public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default, if
any) to funding a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Banking Days after request by Administrative Agent, acting in good faith, to
provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations to fund prospective Revolving Loans and participations in then outstanding Letters of Credit and Swingline Loans under this
Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon Administrative Agent’s receipt of such certification in form and substance satisfactory to it, or (d) has become the
subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed
for it, or, in the good faith determination of Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment (each a “bankruptcy
event”), provided that a bankruptcy event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets
or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 

“Dollar” and “$” means United States dollars or such coin or currency of the United States of America as at
the time of payment shall be legal tender for the payment of public and private debts in the United States of America. 
 “Drawing
Date” has the meaning given in Section 2.2.4 of the Credit Agreement. 
 “Drawing Payment” means any payment
by an LC Issuing Bank honoring a drawing under a Letter of Credit. 
 “Equity Interests” means (a) shares of capital
stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person or (b) any warrants, options or other rights to acquire such shares or interests.

 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“ERISA Affiliate” means (a) a corporation which is a member of a controlled group of corporations with Borrower within
the meaning of Section 414(b) of the Code, (b) a trade or business (including a sole proprietorship, partnership, trust, estate or corporation) which is under common control with Borrower within the meaning of Section 414(c) of the
Code or Section 4001(b)(1) of ERISA, (c) a member of an affiliated service group with Borrower within the meaning of Section 414(m) of the Code, or (d) an entity treated as under common control with Borrower by reason of
Section 414(o) of the Code. 
 “ERISA Plan” means any employee benefit plan (a) maintained by Borrower or any
ERISA Affiliate, or to which any of them contributes or is obligated to contribute, for its employees and (b) covered by Title IV of ERISA or to which Section 412 of the Code applies. 

“Event of Default” has the meaning given in Section 6.1 of the Credit Agreement. 

“Excluded Taxes” means, with respect to Administrative Agent, any Lender or any LC Issuing Bank, (a) income or franchise
Taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under the laws of which such recipient is organized, of which it is a resident or in which it has an office or conducts business (other than a
business which it is deemed to conduct solely by reason of such Lender’s executing, delivering or performing its obligations or receiving a 

  
 EXHIBIT A-7 

 
payment under, or enforcing, the Credit Agreement or any other Credit Facility Document), (b) any branch profits Taxes imposed by the United States of America or any similar Tax imposed by
any other jurisdiction of which Borrower is organized, is a resident or in which it has an office or conducts business (other than a business which it is deemed to conduct solely by reason of such Lender’s executing, delivering or performing
its obligations or receiving a payment under, or enforcing, this Agreement or any other Credit Facility Document), (c) in the case of any Lender or any LC Issuing Bank (other than an assignee pursuant to a request by Borrower under
Section 2.9.2 of the Credit Agreement), any U.S. Federal withholding Tax that (i) is in effect and would apply to amounts payable to such Lender or such LC Issuing Bank at the time such Lender or such LC Issuing Bank becomes a party to
this Agreement or (ii) is attributable to such Lender’s or such LC Issuing Bank’s failure or inability (other than as a result of a Change of Law after the date such Lender or such LC Issuing Bank becomes a party to this Agreement) to
comply with Section 2.5.7 of the Credit Agreement and (d) any Taxes imposed under FATCA. 
 “Existing Credit
Agreement” means NMG’s existing Credit Agreement dated as of November 19, 2008, as amended, among NMG, the Lenders party thereto and Royal Bank of Canada, as administrative agent. 

“Existing Letter of Credit” has the meaning given in Section 2.2.1.2 of the Credit Agreement. 

“Existing Maturity Date” has the meaning given in Section 2.3.4 of the Credit Agreement. 

“Extension Date” has the meaning given in Section 2.3.4 of the Credit Agreement. 

“Extension Request” has the meaning given in Section 2.3.4 of the Credit Agreement. 

“Facility Fee” has the meaning given in Section 2.4.1 of the Credit Agreement. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement, and any current or future regulations
or official interpretations thereof. 
 “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Banking Day, for
the next preceding Banking Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Banking Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for
such transactions received by Administrative Agent from three Federal funds brokers of recognized standing selected by it. 

“Federal Reserve Board” means the Board of Governors of the Federal Reserve System (or any successor thereto). 

“FERC” means the Federal Energy Regulatory Commission and its successors. 

“GAAP” means generally accepted accounting principles in the United States consistently applied. 

“Governmental Authority” means any national, state or local government (whether domestic or foreign), any political
subdivision thereof or any other governmental, quasi-governmental, judicial, regulatory, public or statutory instrumentality, authority, body, agency, bureau or entity (including any zoning authority, FERC, the Comptroller of the Currency or the
Federal Reserve Board, any central bank or any comparable authority) or any arbitrator with authority to bind a party to the Credit Agreement at law. 

  
 EXHIBIT A-8 

 “Governmental Rule” means any law, rule, regulation, ordinance, order, code
interpretation, treaty, judgment, decree, directive, guidelines, policy or similar form of decision of any Governmental Authority. 

“Granting Lender” has the meaning given in Section 7.12.2 of the Credit Agreement. 

“Hedge Transactions” means transactions under any interest swap agreements, caps, collars or other interest rate hedging
mechanisms. 
 “Hybrid Equity Securities” means securities issued by Borrower or any subsidiary that (a) are
classified as possessing a minimum of (i) “intermediate equity content” by S&P and (ii) “Basket C equity credit” by Moody’s and (b) do not contain any scheduled principal payments or prepayments or any
mandatory redemptions or mandatory repurchases prior to the date that is at least 91 days after the latest applicable Maturity Date. 

“Inchoate Default” means any occurrence, circumstance or event, or any combination thereof, which, with the lapse of time
and/or the giving of notice, would constitute an Event of Default. 
 “Increasing Lender” has the meaning given in
Section 2.3.3.1 of the Credit Agreement. 
 “Indebtedness” of any Person means, without duplication, (a) all
indebtedness of such Person for borrowed money, (b) the deferred purchase price of assets or services which in accordance with GAAP would be shown on the liability side of the balance sheet of such Person, (c) the face amount of all
letters of credit issued for the account of such Person (other than letters of credit issued to secure a financial obligation of such Person to the extent such obligation is not outstanding at the time) and all unreimbursed drafts drawn thereunder,
(d) all Indebtedness of another Person secured by any Lien on any property owned by such Person, whether or not such Indebtedness has been assumed by such Person, (e) all Capitalized Lease Obligations of such Person, (f) all
obligations of such Person under any subscription or similar agreement, (g) the discounted present value of all obligations of such Person (other than Borrower) payable under agreements for the payment of a specified purchase price for the
purchase and resale of power whether or not delivered or accepted, i.e., take-or-pay and similar obligations, (h) any unfunded or underfunded obligation subject to the minimum funding standards of Section 412 of the Code of such
Person to any “employee pension benefit plan” (as defined in Section 3(2) of ERISA) maintained at any time, or contributed to, by such Person or any other Person which is under common control (within the meaning of Section 414(b)
or (c) of the Code) with such Person, (i) all Contingent Obligations of such Person and (j) all obligations of such Person in respect of Hedge Transactions; provided, however, that Indebtedness shall specifically exclude
accounts payable arising in the ordinary course of business. 
 “Indemnified Taxes” means (a) Taxes (other than
Excluded Taxes) imposed on or with respect to any payment made by or on account of any obligation of Borrower under this Agreement or any other Credit Facility Document and (b) to the extent not otherwise described in clause (a) above,
Other Taxes. 
 “Indemnitees” has the meaning given in Section 5.12.1 of the Credit Agreement. 

“Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of Borrower that is not guaranteed by any
other Person or subject to any other credit enhancement. 
 “Interest Period” means, with respect to any LIBOR Borrowing,
the period commencing on the date of such Borrowing and ending one week thereafter or on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter, as Borrower may elect; provided that
(i) if any Interest Period would end on a day other than a Banking Day, such Interest Period shall be extended to the next succeeding Banking Day unless such next succeeding Banking Day would fall in the next

  
 EXHIBIT A-9 

 
calendar month, in which case such Interest Period shall end on the next preceding Banking Day, (ii) any monthly Interest Period pertaining to a LIBOR Borrowing that commences on the last
Banking Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Banking Day of the last calendar month of such Interest Period and
(iii) no Interest Period for any LIBOR Loan may end after the Maturity Date. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent
conversion or continuation of such Borrowing. 
 “Joinder and Release Agreement” has the meaning given in Section 2.12
of the Credit Agreement. 
 “JPMCB” means JPMorgan Chase Bank, N.A. 

“LC Application” means an application in such form as any LC Issuing Bank may specify from time to time pursuant to which
Borrower requests the issuance of a Letter of Credit. 
 “LC Beneficiary” means the account beneficiary under a Letter of
Credit, or any assignee or transferee of such beneficiary with respect to the rights of such beneficiary under such Letter of Credit. 

“LC Documents” means, as to any Letter of Credit, each LC Application and any other document, agreement and instrument
entered into by the relevant LC Issuing Bank and Borrower in favor of such LC Issuing Bank and relating to such Letter of Credit. 

“LC Exposure” means, at any time, the sum of (a) the aggregate Stated Amounts of all outstanding Letters of Credit at
such time and (b) the aggregate amount of all Drawing Payments made by the LC Issuing Banks that have not yet been reimbursed by or on behalf of Borrower at such time. The LC Exposure of any Lender at any time shall be its Proportionate Share
of the total LC Exposure. 
 “LC Issuing Bank” means JPMCB and/or any other Lender acceptable to Administrative Agent and
Borrower that has agreed to issue Letters of Credit hereunder. An LC Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of such LC Issuing Bank, in which case the term “LC Issuing
Bank” shall include any such Affiliate with respect to any Letter of Credit issued by such Affiliate. 
 “Legal
Requirements” means, as to any Person, the articles of incorporation, bylaws or other organizational or governing documents of such Person, and any requirement under a Permit, and any Governmental Rule in each case applicable to or binding
upon such Person or any of its properties or to which such Person or any of its property is subject. 
 “Lender” or
“Lenders” means the Persons listed on Schedule 1 and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption or as an Assuming Lender pursuant to Section 2.3.3 of the Credit
Agreement or as an Additional Commitment Lender pursuant to Section 2.3.4 of the Credit Agreement, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless the context otherwise requires, the
term “Lenders” includes the Swingline Lenders. 
 “Lenders Letter of Credit Fee” has the meaning given in
Section 2.4.2.3 of the Credit Agreement. 
 “Lending Office” means, with respect to any Lender, the office designated
as such in such Lender’s Administrative Questionnaire or such other office of such Lender as such Lender may specify from time to time to Administrative Agent and Borrower. 

  
 EXHIBIT A-10 

 “Letter of Credit” means a letter of credit issued by an LC Issuing Bank
pursuant to Section 2.2.1 of the Credit Agreement in such form as may be accepted by such LC Issuing Bank, and shall include the Existing Letters of Credit. 

“LIBO Rate” means, with respect to any LIBOR Loan for any Interest Period (rounded upwards if necessary, to the nearest 1/16th of 1%), the LIBOR Screen Rate as of approximately 11:00 a.m., London time, two Banking Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity
comparable to such Interest Period provided that if the LIBOR Screen Rate shall not be available for such Interest Period with respect to such LIBOR Borrowing for any reason, then the applicable Reference Bank Rate shall be the LIBO Rate for
such Interest Period for such LIBOR Borrowing. 
 “LIBOR”, when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the LIBO Rate. 

“LIBOR Screen Rate” means the London interbank offered rate administered by the British Bankers Association (or any other
Person that takes over the administration of such rate) for dollar deposits for a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen or, in the event such rate does not appear on either of
such Reuters pages, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time
in its reasonable discretion; provided, that, if any LIBOR Screen Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Lien” on any asset means any mortgage, deed of trust, lien, pledge, charge, security interest, or easement or encumbrance of
any kind in respect of such asset, whether or not filed, recorded or otherwise perfected or effective under applicable law, as well as the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention
agreement relating to such asset. 
 “Liquidation Costs” has the meaning given in Section 2.8 of the Credit Agreement.

 “Loans” means the loans made by the Lenders to Borrower pursuant to the Credit Agreement. 

“Material Adverse Effect” means (a) a material adverse change in the business, property, results of operations, or
financial condition of Borrower and any Significant Subsidiary thereof, taken as a whole or (b) any event or occurrence of whatever nature which materially and adversely (i) changes Borrower’s ability to perform its obligations under
the Credit Facility Documents to which it is a party or (ii) impairs the legality, validity, binding effect or enforceability of the Credit Facility Documents. 

“Maturity Date” means December 17, 2018 (or if such date is not a Banking Day, the immediately preceding Banking Day),
subject to extension (in the case of each Lender consenting thereto) as provided in Section 2.3.4 of the Credit Agreement. 

“Minimum Notice Period” means (a) at least three Banking Days before the date of any Revolving Borrowing, continuation
or conversion of a Revolving Loan resulting in whole or in part in one or more LIBOR Loans and (b) before 12:00 noon on the Banking Day of any Revolving Borrowing or conversion of a Revolving Loan resulting in whole or in part in one or more
Base Rate Loans. 
 “Moody’s” means Moody’s Investors Service, Inc. 

  
 EXHIBIT A-11 

 “Multiemployer Plan” means any ERISA Plan that is a multiemployer plan (as
defined in Section 3(37) of ERISA). 
 “NMG” means New Mexico Gas Company, Inc., a Delaware corporation. 

“Non-Recourse Indebtedness” means Indebtedness which is not an obligation of, and is otherwise without recourse to, the
assets or revenues of Borrower or any subsidiary of Borrower. 
 “Note” has the meaning given in Section 2.1.5 of the
Credit Agreement. 
 “Notice of Conversion of Loan Type” has the meaning given in Section 2.1.3 of the Credit
Agreement. 
 “Notice of LC Activity” has the meaning given in Section 2.2.3 of the Credit Agreement. 

“Notice of Revolving Borrowing” has the meaning given in Section 2.1.1.2 of the Credit Agreement. 

“Notice of Swingline Borrowing” has the meaning given in Section 2.10.2 of the Credit Agreement. 

“Obligations” means, collectively, all obligations of Borrower to Administrative Agent, the Lenders, the Swingline Lenders
and/or the LC Issuing Banks arising under the Credit Agreement and the other Credit Facility Documents (including all reimbursement obligations in respect of Letters of Credit), in each case whether fixed, contingent, now existing or hereafter
arising, created, assumed, incurred or acquired, and whether before or after the occurrence of any Bankruptcy Event and including any obligation or liability in respect of any breach of any representation or warranty and all post-petition interest
and funding losses, whether or not allowed as a claim in any proceeding arising in connection with such an event. 
 “OFAC”
means the Office of Foreign Assets Control of the United States Department of the Treasury. 
 “Other Taxes” means any and
all present or future stamp or documentary taxes or any other similar excise or property taxes, charges or similar levies arising from any payment made under this Agreement or any other Credit Facility Document from the execution, delivery or
enforcement of, or otherwise with respect to, this Agreement or any other Credit Facility Document. 
 “Participant” has
the meaning given in Section 7.12.1 of the Credit Agreement. 
 “Participant Register” has the meaning given in
Section 7.12.1 of the Credit Agreement. 
 “Patriot Act” means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. 107-56, signed into law October 26, 2001. 

“PBGC” means the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA. 

“Permit” means any action, approval, consent, waiver, exemption, variance, franchise, order, permit, authorization, right or
license of or from a Governmental Authority. 

  
 EXHIBIT A-12 

 “Person” means any natural person, corporation, partnership, limited liability
company, firm, association, Governmental Authority, trust, trustee or any other entity whether acting in an individual, fiduciary or other capacity. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMCB as its prime rate in effect
at its principal office in New York City (the Prime Rate not being intended to be the lowest rate of interest charged by Administrative Agent in connection with extensions of credit to debtors). 

“Prohibited Transaction” means any transaction set forth in Section 406 of ERISA or Section 4975 of the Code which
is not exempt under Section 408 of ERISA or Section 4975(d) of the Code. 
 “Proportionate Share” means, with
respect to each Lender at any time, the percentage of the Total Commitment represented by such Lender’s Commitment; provided that in the case of Section 2.11 of the Credit Agreement when a Defaulting Lender shall exist,
“Proportionate Share” shall mean the percentage of the Total Commitment (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Proportionate
Shares shall be determined based upon the Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Reference Bank” means the three major banks in the London market selected by the Administrative Agent in consultation with
the Borrower. 
 “Reference Bank Rate” means the arithmetic means of the rates (rounded upwards to four decimal places)
supplied to the Administrative Agent at its request by the Reference Banks as of approximately 11:00 am, London Time, two Banking Days prior to the commencement of such Interest Period at which the Administrative Agent could borrow funds in the
London interbank market for the relevant period, provided that if any Reference Bank Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Register” has the meaning given it in Section 7.13.2 of the Credit Agreement. 

“Regulation D” means Regulation D of the Federal Reserve Board as in effect from time to time. 

“Regulation T” means Regulation T of the Federal Reserve Board as in effect from time to time. 

“Regulation U” means Regulation U of the Federal Reserve Board as in effect from time to time. 

“Regulation X” means Regulation X of the Federal Reserve Board as in effect from time to time. 

“Reimbursement Obligation” means the obligation of Borrower to repay Drawing Payments under a Letter of Credit as provided in
Sections 2.2.4 and 2.2.5 of the Credit Agreement. 
 “Reimbursement Payment” has the meaning given in Section 2.2.4 of
the Credit Agreement. 
 “Required Lenders” means, at any time, Lenders holding in excess of 50% of the Proportionate
Shares. 

  
 EXHIBIT A-13 

 “Reserve Requirement” means, for LIBOR Loans, the maximum rate (expressed as a
percentage) at which reserves (including any marginal, supplemental or emergency reserves) are required to be maintained during the Interest Period therefor under Regulation D by member banks of the Federal Reserve System in New York City with
deposits exceeding $1,000,000,000 against “Eurocurrency liabilities” (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Reserve Requirement shall reflect any other reserves required to be
maintained by such member banks by reason of any Change of Law against (i) any category of liabilities which includes deposits by reference to which the LIBO Rate or LIBOR Loans is to be determined, (ii) any category of liabilities or
extensions of credit or other assets which include LIBOR Loans or (iii) any category of liabilities or extensions of credit which are considered irrevocable commitments to lend. 

“Responsible Officer” means, as to any Person, its president, chief executive officer, any vice president, treasurer, or
secretary or any managing general partner or manager or managing member of a limited liability company (or any of the preceding with regard to such managing general partner, manager or managing member). 

“Revolving”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are made pursuant to Section 2.1.1 of the Credit Agreement. 
 “Revolving Credit Exposure” means, with
respect to any Lender at any time, the sum of (a) the outstanding principal amount of such Lender’s Revolving Loans, (b) such Lender’s LC Exposure and (c) such Lender’s Swingline Exposure, in each case, at such time.

 “Revolving Note” has the meaning given in Section 2.1.5 of the Credit Agreement. 

“S&P” means Standard & Poor’s Financial Services LLC. 

“Sanctions” has the meaning given in Section 4.14.2(a). 

“Significant Subsidiary” means any subsidiary of Borrower formed or acquired after the Signing Date the total assets (after
intercompany eliminations) of which exceed 10% of the total assets of Borrower and its subsidiaries (taken as a whole). 
 “Signing
Date” means the date (which shall not be later than December 31, 2013) when each of the conditions precedent listed in Section 3.1 of the Credit Agreement has been satisfied (or waived in accordance with the terms of the Credit
Agreement). 
 “Solvent” means, when used with respect to any Person, as of any date of determination, (a) the amount
of the “present fair saleable value” of the assets of such Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise”, as of such date, as such quoted terms are determined in
accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the present fair saleable value of the assets of such Person will, as of such date, be greater than the amount that will be required to
pay the liability of such person on its debts as such debts become absolute and matured, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its business, (d) such Person will be
able to pay its debts as they mature, and (e) such Person is not insolvent within the meaning of any applicable Legal Requirements. For purposes of this definition, (i) “debt” means liability on a “claim”, and
(ii) “claim” means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or
(y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed,
secured or unsecured. 

  
 EXHIBIT A-14 

 “SPC” has the meaning given in Section 7.12.2 of the Credit Agreement. 

“Stated Amount” means, with respect to each Letter of Credit at any time, the total amount available to be drawn thereunder
at such time in accordance with the terms of such Letter of Credit. 
 “Subject Claims” has the meaning given in
Section 5.12.1 of the Credit Agreement. 
 “subsidiary” means, with respect to any Person (the
“parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements
if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests
representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of
such date, otherwise controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. Unless otherwise specified, references herein to a “subsidiary” refer to a subsidiary of
Borrower. 
 “Swingline”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are made by a Swingline Lender to Borrower pursuant to Section 2.10 of the Credit Agreement. 

“Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The
Swingline Exposure of any Lender at any time shall be its Proportionate Share of the total Swingline Exposure at such time. 

“Swingline Lender” means each of Citibank and JPMCB, each in its capacity as lender of Swingline Loans hereunder. 

“Swingline Loan Maturity Date” means, with respect to any Swingline Loan made by a Swingline Lender, the fourth Banking Day
after the date on which such Swingline Loan is made (but in no event later than the Maturity Date). 
 “Swingline Note” has
the meaning given in Section 2.1.5 of the Credit Agreement. 
 “Swingline Sublimit” means $60,000,000. 

“Syndication Agents” means entities listed as Syndication Agents on the cover page of the Credit Agreement. 

“Taxes” means any present or future taxes, levies, imposts, deductions, charges or withholdings, and all liabilities with
respect thereto. 
 “TECO” means TECO Energy, Inc., a Florida corporation. 

“Ticking Fee” has the meaning given in Section 2.4.1.2 of the Credit Agreement. 

“Total Commitment” has the meaning given in Section 2.3.1 of the Credit Agreement. 

“Total Debt” means, without duplication, Indebtedness of Borrower and its subsidiaries (taken as a whole) determined on a
consolidated basis in accordance with GAAP outstanding at the date of any determination thereof, without regard to the effects of FASB ASC 805 and FASB ASC 825, but expressly excluding (a) Non-Recourse Indebtedness of Borrower and its
subsidiaries, (b) junior subordinated debentures issued by Borrower and its subsidiaries that do not contain any scheduled principal 

  
 EXHIBIT A-15 

 
payments or prepayments or any mandatory redemptions or mandatory repurchases prior to the date at least 91 days after the latest applicable Maturity Date, (c) Hybrid Equity Securities and
(d) preferred stock of Borrower and its subsidiaries in an amount not to exceed 10% of Borrower’s Capitalization on such date. 

“Type” means the type of a Revolving Loan, whether a Base Rate Loan or LIBOR Loan. 

“Withholding Agent” has the meaning given in Section 2.5.4.4 of the Credit Agreement. 

  
 EXHIBIT A-16 

 RULES OF INTERPRETATION 

1. The singular includes the plural and the plural includes the singular. 

2. “or” is not exclusive. 

3. A reference to a Governmental Rule or Legal Requirement includes any amendment or modification to such Governmental Rule or Legal
Requirement, and all regulations, rulings and other Governmental Rules or Legal Requirement promulgated under such Governmental Rule. 
 4.
A reference to a Person includes its permitted successors and permitted assigns. 
 5. Accounting terms have the meanings assigned to them
by GAAP, as applied by the accounting entity to which they refer. 
 6. The words “include,” “includes” and
“including” are not limiting. 
 7. A reference in a document to an Article, Section, Exhibit, Schedule, Annex, Appendix or
Attachment is to the Article, Section, Exhibit, Schedule, Annex, Appendix or Attachment of such document unless otherwise indicated. Exhibits, Schedules, Annexes, Appendices or Attachments to any document shall be deemed incorporated by reference in
such document. 
 8. References to any document, instrument or agreement (a) shall include all exhibits, schedules and other
attachments thereto, (b) shall include all documents, instruments or agreements issued or executed in replacement thereof, and (c) shall mean such document, instrument or agreement, or replacement or predecessor thereto, as amended,
modified and supplemented from time to time and in effect at any given time. 
 9. The words “hereof,” “herein” and
“hereunder” and words of similar import when used in any document shall refer to such document as a whole and not to any particular provision of such document. 

10. References to “days” shall mean calendar days, unless the term “Banking Days” shall be used. References to a time of
day shall mean such time in New York, New York, unless otherwise specified. 
 11. The Credit Facility Documents are the result of
negotiations between, and have been reviewed by Borrower, Administrative Agent, each Lender and their respective counsel. Accordingly, the Credit Facility Documents shall be deemed to be the product of all parties thereto, and no ambiguity shall be
construed in favor of or against Borrower, Administrative Agent or any Lender solely as a result of any such party having drafted or proposed the ambiguous provision. 

  
 EXHIBIT A-17 

 EXHIBIT B  

to the Credit Agreement 

ASSIGNMENT AND ASSUMPTION 
 This
Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name
of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy
of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth
herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby
irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by Administrative Agent as contemplated below (i) all of the
Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of
such outstanding rights and obligations of the Assignor under the facility identified below (including any letters of credit and guarantees included in the facility) and (ii) to the extent permitted to be assigned under applicable law, all
claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to
the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

							
	1.	  	Assignor:	  	  
	  	
				
	2.	  	Assignee:	  	  
	  	
			
		  		  	[and is an Affiliate/Approved Fund of [identify
Lender]1]
				
	3.	  	Borrower(s):	  	  
	  	
			
	4.	  	Administrative Agent:	  	JPMorgan Chase Bank, N.A., as Administrative Agent under the Credit Agreement
			
	5.	  	Credit Agreement:	  	Credit Agreement dated as of December 17, 2013 among [TECO Energy, Inc.] [New Mexico Gas Company, Inc.], the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative
Agent

  

	1 	Select as applicable. 

  
 EXHIBIT B-1 

							
	6.	  	Assigned Interest:	  		  	

  

									
	 Aggregate Amount of
Commitment/
Loans for all Lenders
	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans2	 
	$        	  	$	            	  	  	 	    	% 
	$        	  	$	            	  	  	 	    	% 
	$        	  	$	            	  	  	 	    	% 

 Effective Date:             
        , 201     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

 

	2 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

  
 EXHIBIT B-2 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Title:
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Title:

  
 EXHIBIT B-3 

			
	Consented to and Accepted:
	
	 JPMORGAN CHASE BANK, N.A.,

as Administrative Agent, an LC Issuing Bank and a Swingline Lender

		
	By	 	  

		 	Title:]3
	
	Consented to:
	
	 [[OTHER LC ISSUING BANK,

as an LC Issuing Bank

		
	By	 	  

		 	Title:]4
	
	 CITIBANK, N.A.,

as a Swingline Lender

		
	By	 	  

		 	Title:
	
	[NEW MEXICO GAS COMPANY, INC.]
		
	By	 	  

		 	Title:]5

  

	3 	To be added only if the consent of Administrative Agent, LC Issuing Bank and/or Swingline Lender is required by the terms of the Credit Agreement. 

	4 	To be added for each other Issuing Bank and only if the consent of Issuing Banks is required by the terms of the Credit Agreement 

	5 	To be added only if the consent of Borrower is required by the terms of the Credit Agreement. 

  
 EXHIBIT B-4 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Credit Facility Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other Credit Facility Document, (iii) the financial condition of
Borrower, any of its subsidiaries or Affiliates or any other Person obligated in respect of the Credit Agreement or any other Credit Facility Document or (iv) the performance or observance by Borrower, any of its subsidiaries or Affiliates or
any other Person of any of their respective obligations under the Credit Agreement or any other Credit Facility Document. 
 1.2.
Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement or any other Credit Facility Document, (ii) it satisfies the requirements, if any, specified in the Credit Agreement or any other Credit Facility Document that are required
to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement or any other Credit Facility Document as a Lender
thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement or any other Credit Facility Document, together with copies of the most recent
financial statements delivered pursuant to Section 5.9 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and
to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on Administrative Agent or any other Lender, and (v) if it is a Lender not formed under the laws of the United
States of America or any state thereof, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement or any other Credit Facility Document, duly completed and executed by
the Assignee; and (b) agrees that (i) it will, independently and without reliance on Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Credit Agreement or any other Credit Facility Document, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Credit
Agreement or any other Credit Facility Document are required to be performed by it as a Lender. 
 2. Payments. From and after
the Effective Date, Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective
Date and to the Assignee for amounts which have accrued from and after the Effective Date. 
 3. General Provisions. This
Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and
Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 ANNEX-1 

 EXHIBIT C 

to the Credit Agreement 

FORM OF REVOLVING NOTE 
  

			
	$            	  	New York, New York
	Note No.             	  	                    , 201    

 For value received, the undersigned NEW MEXICO GAS COMPANY, INC., a Delaware corporation
(“Borrower”), promises to pay to                      (“Lender”), at the office of
                     located at
                    , in lawful money of the United States of America and in immediately available funds, the principal amount of
                     DOLLARS ($        ), or if less, the aggregate unpaid and outstanding principal amount
of Revolving Loans advanced by Lender to Borrower pursuant to that certain Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among
Borrower, the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (“Administrative Agent”), and all other amounts owed by Borrower to Lender hereunder. 

This is one of the Revolving Notes referred to in the Credit Agreement and is entitled to the benefits thereof and is subject to all terms,
provisions and conditions thereof. Capitalized terms used and not defined herein shall have the meanings set forth in the Credit Agreement. 

The principal amount hereof is payable in accordance with the Credit Agreement, and such principal amount may be prepaid solely in accordance
with the Credit Agreement. 
 Borrower further agrees to pay, in lawful money of the United States of America and in immediately available
funds, interest from the date hereof on the unpaid and outstanding principal amount hereof until such unpaid and outstanding principal amount shall become due and payable (whether at stated maturity, by acceleration or otherwise) at the rates of
interest and at the times set forth in the Credit Agreement and Borrower agrees to pay other fees and costs as stated in the Credit Agreement. 

If any payment on this Note becomes due and payable on a date which is not a Banking Day, such payment shall be made on the first succeeding,
or next preceding, Banking Day, in accordance with the terms of the Credit Agreement. 
 All Revolving Loans made by Lender pursuant to the
Credit Agreement and other Credit Facility Documents, and all payments and prepayments made on account of the principal balance hereof shall be recorded by Lender on the grid attached hereto, provided that failure to make such a notation
shall not affect or diminish Borrower’s obligation to repay all amounts due on this Note as and when due. 
 Upon the occurrence and during the
continuation of any one or more Events of Default, all amounts then remaining unpaid on this Note may become or be declared to be immediately due and payable as provided in the Credit Agreement and other Credit Facility Documents. 

Borrower agrees to pay costs and expenses, including without limitation attorneys’ fees, as set forth in Section 8.4 of the Credit
Agreement. 
 This Note shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 EXHIBIT C-1 

 
			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 EXHIBIT C-2 

							
	 Date
	  	 Advance
	  	 Prepayment or

Repayment
	  	 Outstanding
Balance

				
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  
 EXHIBIT C-3 

 EXHIBIT D 

to the Credit Agreement 

FORM OF SWINGLINE NOTE 
  

			
	$            	  	New York, New York
	Note No.             	  	                    , 201    

 For value received, the undersigned NEW MEXICO GAS COMPANY, INC., a Delaware corporation
(“Borrower”), promises to pay to                      (“Swingline Lender”), or order, at the office of
                     located at
                    , in lawful money of the United States of America and in immediately available funds, the principal amount of
                     DOLLARS ($        ), or if less, the aggregate unpaid and outstanding principal amount
of Swingline Loans advanced by the Swingline Lender to Borrower pursuant to that certain Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”),
by and among Borrower, the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (“Administrative Agent”), and all other amounts owed by Borrower to the
Swingline Lender hereunder. 
 This is one of the Swingline Notes referred to in the Credit Agreement and is entitled to the benefits
thereof and is subject to all terms, provisions and conditions thereof. Capitalized terms used and not defined herein shall have the meanings set forth in the Credit Agreement. 

The principal amount hereof is payable in accordance with the Credit Agreement, and such principal amount may be prepaid solely in accordance
with the Credit Agreement. 
 Borrower further agrees to pay, in lawful money of the United States of America and in immediately available
funds, interest from the date hereof on the unpaid and outstanding principal amount hereof until such unpaid and outstanding principal amount shall become due and payable (whether at stated maturity, by acceleration or otherwise) at the rates of
interest and at the times set forth in the Credit Agreement and Borrower agrees to pay other fees and costs as stated in the Credit Agreement. 

If any payment on this Note becomes due and payable on a date which is not a Banking Day, such payment shall be made on the first succeeding,
or next preceding, Banking Day, in accordance with the terms of the Credit Agreement. 
 All Swingline Loans made by the Swingline Lender
pursuant to the Credit Agreement and other Credit Facility Documents, and all payments and prepayments made on account of the principal balance hereof shall be recorded by the Swingline Lender on the grid attached hereto, provided that
failure to make such a notation shall not affect or diminish Borrower’s obligation to repay all amounts due on this Note as and when due. 

Upon the occurrence and during the continuation of any one or more Events of Default, all amounts then remaining unpaid on this Note may
become or be declared to be immediately due and payable as provided in the Credit Agreement and other Credit Facility Documents. 
 Borrower
agrees to pay costs and expenses, including without limitation attorneys’ fees, as set forth in Section 8.4 of the Credit Agreement. 

This Note shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 EXHIBIT D-1 

 
			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 EXHIBIT D-2 

							
	 Date
	  	 Advance
	  	 Prepayment or

Repayment
	  	 Outstanding
Balance

				
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

  
 EXHIBIT D-3 

 EXHIBIT E-1 

to the Credit Agreement 

FORM OF NOTICE OF REVOLVING BORROWING 

(Delivered pursuant to Section 2.1.1.2) 

[Date] 
 JPMorgan Chase Bank, N.A. 

500 Stanton Christiana Road 
 Ops 2 Floor 3 

Newark, Delaware 
 Attention: Evan Zacharias 

Telephone: (302) 634-1405 
 Fax: (302) 634-1417 

with copy to: 
 JPMorgan Chase Bank, N.A. 

383 Madison Avenue 
 24th Floor 
 New York, New York 10179 

Attention: Peter Christensen 
 Re: New Mexico Gas Credit
Agreement: Notice of Revolving Borrowing  
 This Notice of Revolving Borrowing is delivered to you pursuant to Section 2.1.1.2 of
the Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among New Mexico Gas Company, Inc. a Delaware corporation
(“Borrower”), the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (“Administrative Agent”). All capitalized terms used herein shall have
the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein or unless the context requires otherwise. 

This Notice of Revolving Borrowing constitutes a request for a Borrowing as set out below: 

 

	 	1.	The requested date of the Borrowing is                 , 201    , which is a Banking Day. 

 

	 	2.	The total amount of the requested Loan is $         

  

	 	3.	Borrower requests the following funding options: 

  

	 	a.	Base Rate Loan amount: $         

  

	 	b.	LIBOR Loan amount: $         

  

			
	Amount Requested	  	Initial Interest Period
		
	 $            
	  	                    [week] [months]
	 $            
	  	                    [week] [months]
	 $            
	  	                    [week] [months]

  
 EXHIBIT E-1-1 

	 	[4.	The proceeds of the Loan should be sent as follows: 

 [Insert wiring instructions]] 

The undersigned further confirms and certifies to Administrative Agent and each Lender that (i) the requested Loan will not, when added
to the total Revolving Credit Exposure of all the Lenders then outstanding, exceed the Total Commitment in effect on the date hereof, and (ii) the conditions set forth in Section 3.2 of the Credit Agreement have been satisfied or waived in
accordance with the terms thereof. 
 [SIGNATURE PAGE FOLLOWS] 

  
 EXHIBIT E-1-2 

 
			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 EXHIBIT E-1-3 

 EXHIBIT E-2 

to the Credit Agreement 

FORM OF NOTICE OF CONVERSION OF LOAN TYPE 

(Delivered pursuant to Section 2.1.3) 

[Date] 
 JPMorgan Chase Bank, N.A. 

500 Stanton Christiana Road 
 Ops 2 Floor 3 

Newark, Delaware 
 Attention: Evan Zacharias 

Telephone: (302) 634-1405 
 Fax: (302) 634-1417 

with copy to: 
 JPMorgan Chase Bank, N.A. 

383 Madison Avenue 
 24th Floor 
 New York, New York 10179 

Attention: Peter Christensen 
  

	Re:	New Mexico Gas Credit Agreement: Notice of Conversion of Loan Type 

 Reference is hereby
made to that certain Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among New Mexico Gas Company, Inc., a Delaware corporation
(“Borrower”), the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (“Administrative Agent”). All capitalized terms used herein shall have
the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein or unless the context requires otherwise. 

Pursuant to Section 2.1.3 of the Credit Agreement, Borrower hereby requests conversion of the following Loans as set forth below
[include only those which are applicable]: 
  

	 	1.	Conversion of Revolving Base Rate Loans to LIBOR Loans: 

  

					
	 Base Rate Loans in the following amount:
	  	$	            	  
	 to be converted to LIBOR Loans as follows:
	  			
		
	 LIBOR Loan to expire             ,
            :
	  	$	            	  
		
	 LIBOR Loan to expire             ,
            :
	  	$	            	  

  

	 	2.	Conversion of LIBOR Loans to Base Rate Loans: 

  

					
	 LIBOR Loans in the following amount:
	  	$	            	  
	 to be converted to Base Rate Loans.
	  			

  
 EXHIBIT E-2-1 

 The effective date of the conversion shall be
            ,              which is a Banking Day and which shall be the first day after the last day of an Interest Period if
converting from LIBOR Loans. 

  
 EXHIBIT E-2-2 

 IN WITNESS WHEREOF, Borrower has executed this Notice of Conversion of Loan Type on the date set
forth above. 
  

			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

							
	 The undersigned acknowledges

receipt of a copy of
 this Notice of Conversion of Loan
Type:
	 		 	
			
	JPMORGAN CHASE BANK, N.A.,	 		 	Date:             ,        
	 as Administrative Agent
	 		 	
				
	By:	 	  
	 		 	
		 	Name:	 		 	
		 	Title:	 		 	

  
 EXHIBIT E-2-3 

 EXHIBIT E-3 

to the Credit Agreement 

FORM OF CONFIRMATION OF INTEREST PERIOD SELECTION 

(Delivered pursuant to Section 2.1.2.4(b)) 

[Date] 
 JPMorgan Chase Bank, N.A. 

500 Stanton Christiana Road 
 Ops 2 Floor 3 

Newark, Delaware 
 Attention: Evan Zacharias 

Telephone: (302) 634-1405 
 Fax: (302) 634-1417 

with copy to: 
 JPMorgan Chase Bank, N.A. 

383 Madison Avenue 
 24th Floor 
 New York, New York 10179 

Attention: Peter Christensen 
  

	Re:	New Mexico Gas Credit Agreement: Confirmation of Interest Period Selection 

 This
Confirmation of Interest Period Selection is delivered to you pursuant to Section 2.1.2.4(b) of the Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among New Mexico Gas Company, Inc. a Delaware corporation (“Borrower”), the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders
(“Administrative Agent”). All capitalized terms used herein shall have the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein or unless the context requires otherwise. 

This Confirmation of Interest Period Selection relates to $          of the LIBOR Loans with an
Interest Period ending on                     . This Confirmation of Interest Period Selection constitutes a confirmation that effective
                     (which shall be the last day of an Interest Period): 

The requested Interest Period for
                     of such LIBOR Loans shall be [one week][     months]. 

This notice shall be effective only if delivered to Administrative Agent as a Confirmation of Interest Period Selection made pursuant to
Section 2.1.2.4(b) of the Credit Agreement. 
 The undersigned confirms and certifies to each Lender that as of the date of this
Confirmation of Interest Period Selection, no Event of Default or Inchoate Default exists under the Credit Agreement. 

  
 EXHIBIT E-3-1 

 
			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

							
	 The undersigned acknowledges receipt

of a copy of this Confirmation of
 Interest Period
Selection:
	 		 	
			
	JPMORGAN CHASE BANK, N.A.,	 		 	Date:                     ,     
	as Administrative Agent	 		 	
				
	By:	 	  
	 		 	
		 	Name:	 		 	
		 	Title:	 		 	

  
 EXHIBIT E-3-2 

 EXHIBIT E-4 

to the Credit Agreement 

FORM OF NOTICE OF LC ACTIVITY 

(Delivered pursuant to Section 2.2.3) 

[Date] 
 JPMorgan Chase Bank, N.A. 

500 Stanton Christiana Road 
 Ops 2 Floor 3 

Newark, Delaware 
 Attention: Evan Zacharias 

Telephone: (302) 634-1405 
 Fax: (302) 634-1417 

 

	 	Re:	New Mexico Gas: Notice of LC Activity 

 This Notice of LC Activity is delivered to you
pursuant to Section 2.2.3 of that certain Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among New Mexico Gas Company, Inc., a
Delaware corporation (“Borrower”), the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (“Administrative Agent”). All capitalized terms
used herein shall have the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein or unless the context requires otherwise. 

1. We request that [a/the] [specify Letter of Credit] be [issued] [extended] [changed] by the LC Issuing Bank specified above, as provided
below: 
 2. The issue date of the Letter of Credit is
                    , and the [extended] expiration date of the Letter of Credit is
                    , neither of which is later than the earlier of (a) one year after the issue date of such Letter of Credit and (b) five
Banking Days prior to the Maturity Date. 
 3. The Stated Amount of the Letter of Credit to be issued is
$         which, together with the total Revolving Credit Exposure of all the Lenders now outstanding, does not exceed the Total Commitment. 

[USE FOR INCREASING STATED AMOUNT OF LETTERS OF CREDIT] We request that the Stated Amount of the Letter of Credit in favor of
                     be changed from $         to $         which,
together with the total Revolving Credit Exposure of all the Lenders now outstanding, does not exceed the Total Commitment.] 
 4.
Administrative Agent is instructed to deliver the [Letter of Credit] [notice of extension] [notice of change in Stated Amount] to
                    , [the LC Beneficiary] [Borrower], at [address]. 

The undersigned further confirms and certifies to Administrative Agent, the LC Issuing Bank and each Lender that the Letter of Credit
requested or modified hereby shall only be used in the manner and for the purposes specified and permitted by the Credit Agreement, and that, as of the date of the issuance of such Letter of Credit, the conditions set forth in Section 3.2 of
the Credit Agreement have all been satisfied or waived in accordance with the terms thereof. 

  
 EXHIBIT E-4-1 

 
			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 EXHIBIT E-4-2 

 EXHIBIT F 

to the Credit Agreement 

FORM OF NOTICE OF SWINGLINE BORROWING 

(Delivered pursuant to Section 2.10.2) 

[Date] 
 JPMorgan Chase Bank, N.A. 

500 Stanton Christiana Road 
 Ops 2 Floor 3 

Newark, Delaware 
 Attention: Evan Zacharias 

Telephone: (302) 634-1405 
 Fax: (302) 634-1417 

with copy to: 
 JPMorgan Chase Bank, N.A. 

383 Madison Avenue 
 24th Floor 
 New York, New York 10179 

Attention: Peter Christensen 
 Re: New Mexico Gas Credit
Agreement: Notice of Swingline Borrowing  
 This Notice of Swingline Borrowing is delivered to you pursuant to Section 2.10.2 of
the Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among New Mexico Gas Company, Inc., a Delaware corporation
(“Borrower”), the lenders party thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (“Administrative Agent”). All capitalized terms used herein shall have
the respective meanings specified in Exhibit A to the Credit Agreement unless otherwise defined herein or unless the context requires otherwise. 

This Notice of Swingline Borrowing constitutes a request for a Swingline Borrowing as set out below: 

 

	 	1.	The Swingline Lender[s] for the Swingline Borrowing are: 

  

	 	a.	                     for the requested Swingline Loan amount of $        ; and

  

	 	b.	                     for the requested Swingline Loan amount of
$            . 

  

	 	2.	The requested date of the Swingline Borrowing is                     , 201    , which is a Banking
Day. 

  

	 	[3.	The proceeds of the Swingline Loan should be sent as follows: 

 [Insert wiring instructions]]

 The undersigned further confirms and certifies to Administrative Agent and the Swingline Lender that (i) the requested Swingline
Loan will not, when added to the total Revolving Credit Exposure of 

  
 EXHIBIT F-1 

 
all the Lenders then outstanding, exceed the Total Commitment in effect on the date hereof, and (ii) the conditions set forth in Section 3.2 of the Credit Agreement have been satisfied
or waived in accordance with the terms thereof. 
 [SIGNATURE PAGE FOLLOWS] 

  
 EXHIBIT F-2 

 
			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 EXHIBIT F-3 

 EXHIBIT G 

to the Credit Agreement 

BORROWER’S CLOSING CERTIFICATE 

Pursuant to Section 3.1.7 of the Credit Agreement (as defined below), the undersigned hereby certifies on this     th
day of                     , 2013 to JPMorgan Chase Bank, N.A. as administrative agent (“Administrative Agent”) for the Lenders
under that certain Credit Agreement dated as of December 17, 2013 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) among New Mexico Gas Company, Inc., a Delaware corporation
(“Borrower”), the lenders party thereto (the “Lenders”) and Administrative Agent, that: 
 1. Borrower is
not or, but for the passage of time or the giving of notice or both will not be, in breach of any material obligation thereunder which is reasonably expected to have a Material Adverse Effect. 

2. Each representation and warranty made in Article IV of the Credit Agreement is true and correct as of the Commitment Effective Date (unless
such representation or warranty expressly relates to another time). 
 3. There exists no Event of Default or Inchoate Default as of the
Commitment Effective Date. 
 4. The conditions precedent set forth in Section 3.1 of the Credit Agreement have been satisfied or have
been waived in accordance with Section 7.9 of the Credit Agreement. 
 All capitalized terms used herein which are defined in the Credit Agreement
shall have the meaning given to them in Exhibit A to the Credit Agreement. 
 [SIGNATURE PAGES FOLLOW] 

  
 EXHIBIT G-1 

 IN WITNESS WHEREOF, Borrower has executed this Certificate on the date set forth above. 

 

			
	NEW MEXICO GAS COMPANY, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 EXHIBIT G-2 

 EXHIBIT H-1 

to the Credit Agreement 

[                 ,     ] 

JPMorgan Chase Bank, N.A., as Administrative 

Agent for the Lenders under the 

Credit Agreement described below, 

500 Stanton Christiana Road 

Newark, Delaware 
  

	 	Re:	Credit Agreement for New Mexico Gas Company, Inc. 

 Ladies and Gentlemen: 

As [Associate General Counsel] [special New Mexico counsel] of New Mexico Gas Company, Inc., a Delaware corporation (the “Company”),
[I] [we] have acted as counsel to the Company in connection with Credit Agreement dated as of December 17, 2013 among the Company, JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”) and the Lenders party
thereto (the “Lenders”) (the “Credit Agreement”). This opinion is being delivered pursuant to Section 3.2.6 of the Credit Agreement. Capitalized terms not otherwise defined in this opinion that are defined in the Credit
Agreement have the meanings assigned to them in the Credit Agreement. 
 In rendering the opinions set forth herein, [I, or attorneys under
my supervision,] [we] have examined and relied on originals or copies of the Credit Agreement, Joinder and Release Agreement and the Notes issued thereunder (collectively, the “Credit Documents”) and the governing documents, and such other
documents and made such examination of law as I have deemed appropriate to give the opinions set forth below. [I] [we] have relied, without independent verification, upon certificates of public officials and, as to matters of fact material to my
opinions, on representations made in the Credit Agreement and certificates and other inquiries of officers of the Company. When used in this opinion, the phrase “to [my] [our] knowledge” or equivalent words with respect to a matter means
that nothing has come to [my] [our] attention in the course of my representation of the Company which would lead [me] [us] to question such matter but that, except as expressly stated, [I] [we] have not made any special investigation with respect
thereto. 
 In my examination [I] [we] have assumed the genuineness of all signatures (other than signatures made on behalf of the Company),
including endorsements, the legal capacity of natural persons, the authenticity of all documents submitted to [me] [us] as originals, the conformity to original documents of all documents submitted to [me] [us] as certified or photostatic copies and
the authenticity of the originals of such copies. [Also, with your approval, I have relied as to certain legal matters on advice of other lawyers employed by the Company who are more familiar with such matters.] This opinion speaks only as of its
date, and [I] [we] undertake no obligation to update it for any subsequent events or legal developments. 
 The opinions stated herein are
limited to the laws of the State of New Mexico. [I] [We] express no opinion as to the laws of any other jurisdiction other than the applicable laws of the State of New Mexico. [I] [We] do not express any opinion concerning matters governed by any
securities laws of the State of New Mexico. 

  
 EXHIBIT H-1-1 

 Based upon and subject to the foregoing and subject to the limitations, qualifications,
exceptions and assumptions set forth herein, [I am] [we are] of the opinion that: 
 1. To [my] [our] knowledge, there is no action, suit,
or other proceeding at law or in equity, or any arbitration proceeding, by or before any governmental agency or arbitrator now pending or overtly threatened in writing against the Company challenging the validity or enforceability of, or seeking to
enjoin the performance of the Credit Documents. 
 2. All consents, governmental approvals, licenses or authorizations (including from the
New Mexico Public Regulation Commission) required to be obtained by the Company before the date hereof for its execution, delivery and performance of the Credit Documents have been obtained and are in full force and effect. To [my] [our] knowledge,
there is no proceeding pending or threatened that seeks, or may reasonably be expected, to rescind, terminate, modify, suspend, or withhold any of the consents, approvals, licenses, or authorizations referred to in this paragraph. 

This opinion is furnished to you as Administrative Agent and to the Lenders who may become parties to the Credit Agreement in connection with
the transaction described above and may not be relied on without [my] [our] prior written consent for any other purpose or by anyone else. [I] [We] consent to reliance on the opinions expressed herein, solely in connection with the Credit Documents,
by any party that becomes a “Lender” or “Participant” under the Credit Agreement after the date of this opinion in accordance with the provisions of the Credit Agreement as if this opinion were addressed and delivered to such
additional Lender or Participant on the date hereof, on the condition and understanding that (a) any such reliance must be actual and reasonable under the circumstances existing at the time such Lender or Participant becomes a Lender or
Participant, including any circumstances relating to changes in law, facts or any other developments known to or reasonably knowable by such Lender or Participant at such time, (b) our consent to such reliance shall not constitute a reissuance
of the opinions expressed herein or otherwise extend any statute of limitations period applicable hereto on the date hereof, and (c) in no event shall any such Lender or Participant have any greater rights with respect hereto than the original
addressees of this letter on the date hereof or than its assignor. 
  

	
	Very truly yours,

  
 EXHIBIT H-1-2 

 EXHIBIT H-2 

to the Credit Agreement 

[                 ,     ] 

JPMorgan Chase Bank, N.A., as Administrative 

Agent for the Lenders under the 

Credit Agreement described below, 

500 Stanton Christiana Road 

Newark, Delaware 
  

	 	Re:	Credit Agreement for New Mexico Gas Company, Inc. 

 Ladies and Gentlemen: 

We are furnishing this opinion to you pursuant to Section 3.2.6 of the Credit Agreement (the “Credit Agreement”) dated as of
December 17, 2013 among New Mexico Gas Company, Inc. (the “Company”), as borrower, JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), the Lenders party thereto (the “Lenders”), and
each LC Issuing Bank party thereto. Capitalized terms used but not otherwise defined in this opinion have the meanings as assigned to them in the Credit Agreement. 

We have acted as counsel to the Company in connection with the Credit Agreement. We have examined the Credit Agreement, Joinder and Release
Agreement and the Notes issued thereunder on the date hereof (collectively, the “Credit Documents”). We have also examined such other documents and certificates as we consider necessary to render this opinion. As to various questions of
fact material to our opinion, we have relied, without independent verification, upon the representations made in or pursuant to the Credit Agreement and upon certificates of officers of the Company. We have also relied upon the certificates of
public officials. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted to us as copies. We also have assumed that each
Credit Document to which the Administrative Agent, any Lender, or any LC Issuing Bank is a party constitutes its valid and binding obligation. 

The opinion rendered herein is limited to the federal laws of the United States, the General Corporation Law of the State of Delaware, and the
laws of the State of New York. 
 References in this opinion to matters known to us mean the actual knowledge of the lawyers in this firm
responsible for preparing this opinion after consultation with such other lawyers in the firm and review of such documents in our possession as they considered appropriate. 

Based on the foregoing and subject to the additional qualifications set forth below, we are of opinion that: 

1. The Company is validly existing as a corporation in good standing under the laws of the State of Delaware and has the corporate power to
enter into and perform its obligations under the Credit Documents. 
 2. The Credit Documents have been duly authorized, executed and
delivered by the Company, and such Credit Documents constitute its valid and binding obligations enforceable against it in accordance with their terms. 

  
 EXHIBIT H-2-1 

 3. No filing with, or authorization, approval, consent, license, order, registration,
qualification or decree of, any court or governmental authority or agency is necessary or required under any New York or federal law of the United States in connection with the due authorization, execution, delivery and performance of the Credit
Documents by the Company. 
 4. The execution and delivery of the Credit Documents by the Company do not and the performance by it of its
obligations will not (i) constitute a breach of, or default under or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to, any of the agreements specified in Schedule 1
hereto, (ii) violate the charter or by-laws of the Company, (iii) violate any applicable New York or federal law, statute, rule or regulation (including, without limitation, Regulations T, U or X of the Board of Governors of the
Federal Reserve System) or (iv) violate any judgment, order, writ or decree applicable to the Company and known to us. 
 5. The
Company is not an “investment company” or an entity “controlled” by an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended. 

6. To our knowledge, there is no action, suit or other proceeding at law or in equity, or any arbitration proceeding, by or before any
governmental agency or arbitrator now pending or overtly threatened in writing against the Company challenging the validity or enforceability of, or seeking to enjoin the performance of any of the Credit Documents. 

Our opinions above are subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general
application affecting the rights and remedies of creditors and to general principles of equity. 
 We express no opinion as to: 

(i) the enforceability of any provision of the Credit Documents that increases the rate of interest upon default or imposes a
late fee to the extent either is determined to be a penalty; 
 (ii) the enforceability of any provision of the Credit
Documents purporting to grant a party conclusive rights of determination; 
 (iii) the effect of any provision of the Credit
Documents that purports to grant rights of set-off or similar rights (a) to any person other than the particular Lender, (b) other than in accordance with applicable law, (c) to the extent a Lender or other person is authorized to set
off against funds on deposit in the Company’s accounts that were accepted by such Lender or other person with the intent to apply such funds to a preexisting claim rather than to hold the funds subject to withdrawals in the ordinary course,
(d) to the extent that the funds on deposit in said accounts are in any manner special accounts, which by the express terms on which they are created, are made subject to the rights of a third party, or (e) to the extent that a Lender or
any other person is entitled to exercise rights of set-off or similar rights with respect to accounts at any other institution; 

(iv) the grant of powers of attorney to the extent they are against public policy; 

(v) any exculpation or indemnification to the extent they are against public policy; and 

(vi) the enforceability of any grant of exclusive jurisdiction. 

  
 EXHIBIT H-2-2 

 Our opinion is also subject to the applicability of forum non-conveniens doctrine or any other
doctrine limiting the availability of the courts in a particular jurisdiction as a forum for the resolution of disputes not having a sufficient nexus to such jurisdiction. 

This opinion is being furnished solely to the addressees hereof and to the Lenders who may become parties to the Credit Agreement in
connection with the transaction described above and may not be relied on without our prior written consent for any other purpose or by anyone else. This opinion speaks only as of its date and we undertake no obligation to update it for subsequent
events or legal developments. We consent to reliance on the opinions expressed herein, solely in connection with the Credit Documents, by any party that becomes a “Lender” or “Participant” under the Credit Agreement after the
date of this opinion in accordance with the provisions of the Credit Agreement as if this opinion were addressed and delivered to such additional Lender or Participant on the date hereof, on the condition and understanding that (a) any such
reliance must be actual and reasonable under the circumstances existing at the time such Lender or Participant becomes a Lender or Participant, including any circumstances relating to changes in law, facts or any other developments known to or
reasonably knowable by such Lender or Participant at such time, (b) our consent to such reliance shall not constitute a reissuance of the opinions expressed herein or otherwise extend any statute of limitations period applicable hereto on the
date hereof, and (c) in no event shall any such Lender or Participant have any greater rights with respect hereto than the original addressees of this letter on the date hereof or than its assignor. 

 

	
	Very truly yours,
	
	EDWARDS WILDMAN PALMER LLP

  
 EXHIBIT H-2-3 

 Schedule 1 

Specified Agreements 

[To be determined.] 

  
 EXHIBIT H-3-1 

 EXHIBIT H-3 

to the Credit Agreement 

[                     ],
2013 
 To the Lenders, the LC Issuing Banks 
 and the
Swingline Lenders party to the 
 Credit Agreement referred to below and 

JPMorgan Chase Bank, N.A., as Administrative Agent 
 Ladies and
Gentlemen: 
 We have acted as special New York counsel to JPMorgan Chase Bank, N.A. (“JPMCB”), as Administrative Agent, in
connection with the Credit Agreement dated as of December 17, 2013 (the “Credit Agreement”) among New Mexico Gas Company, Inc. (the “Borrower”), the lenders party thereto, the LC Issuing Banks party thereto and the
Administrative Agent. Except as otherwise defined herein, terms defined in the Credit Agreement have the same defined meanings when used herein. 

In rendering the opinions expressed below, we have examined an executed counterpart of the Credit Agreement and Joinder and Release Agreement.
In our examination, we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals and the conformity with authentic original documents of all documents submitted to us as copies. When relevant
facts were not independently established, we have relied upon representations made in or pursuant to the Credit Agreement. We have also assumed that the Credit Agreement and Joinder and Release Agreement have been duly authorized, executed and
delivered by, and (except, to the extent set forth below, as to the Borrower) constitutes legal, valid, binding and enforceable obligations of, all of the parties thereto, that all signatories thereto have been duly authorized and that all such
parties are duly organized and validly existing and have the power and authority (corporate or other) to execute, deliver and perform the same. In addition, we have assumed that (i) all conditions required for the effectiveness of the Credit
Agreement pursuant to Section 3.2 thereof shall have been satisfied and (ii) notification of the Commitment Effective Date pursuant to said Section 3.2 is being given by the Administrative Agent contemporaneously with the delivery of
this opinion. 
 Based upon and subject to the foregoing and subject also to the comments and qualifications set forth below, and having
considered such questions of law as we have deemed necessary as a basis for the opinions expressed below, we are of the opinion that the Credit Agreement constitutes a legal, valid and binding obligation of the Borrower, enforceable against it in
accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or other similar laws relating to or affecting the rights of creditors generally, and except as the
enforceability of the Credit Agreement is subject to the application of general principles of equity (regardless of whether considered in a proceeding in equity or at law), including without limitation (i) the possible unavailability of
specific performance, injunctive relief or any other equitable remedy and (ii) concepts of materiality, reasonableness, good faith and fair dealing. 

  
 EXHIBIT H-3-1 

 The foregoing opinions are also subject to the following comments and qualifications: 

(A) The enforceability of provisions in the Credit Agreement to the effect that terms may not be waived or modified except in
writing may be limited under certain circumstances. 
 (B) The enforceability of Section 5.12 of the Credit Agreement
may be limited by laws limiting the enforceability of provisions exculpating or exempting a party from, or requiring indemnification of or contribution to a party for, liability for its own action or inaction, to the extent the action or inaction
involves gross negligence, recklessness, wilful misconduct or unlawful conduct. 
 (C) We express no opinion as to
(i) the effect of the laws of any jurisdiction in which any Lender is located (other than New York) that limits the interest, fees or other charges it may impose for the loan or use of money or other credit, (ii) the last sentence of
Section 2.6.2 of the Credit Agreement, (iii) Section 8.2 of the Credit Agreement, (iv) the first sentence of Section 8.13 of the Credit Agreement, insofar as such sentence relates to the subject-matter jurisdiction of the
United States District Court for the Southern District of New York to adjudicate any controversy related to the Credit Agreement or (iv) the waiver of inconvenient forum set forth in the last sentence of Section 8.13 of the Credit
Agreement with respect to proceedings in the United States District Court for the Southern District of New York. 
 The foregoing opinions
are limited to matters involving the Federal laws of the United States and the law of the State of New York, and we do not express any opinion as to the law of any other jurisdiction. 

This opinion letter is provided to you by us as special New York counsel to JPMCB, as the Administrative Agent pursuant to Section 3.2.6
of the Credit Agreement and may not be relied upon by any other person or for any purpose other than in connection with the transactions contemplated by the Credit Agreement without our prior written consent in each instance. 

 

	
	Very truly yours,

 BT/EKM 

  
 EXHIBIT H-3-2 

 EXHIBIT I 

to the Credit Agreement 

FORM OF JOINDER AND RELEASE AGREEMENT 

Date: [                 ,     ] 

To: JPMorgan Chase Bank, N.A., as Administrative Agent 
 Ladies
and Gentlemen 
 This Joinder and Release Agreement is made and delivered pursuant to Section 2.12 of that certain Credit Agreement,
dated as of December 17, 2013 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among TECO ENERGY, INC. (the “Company”), the Lenders from
time to time party thereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent, and reference is made thereto for full particulars of the matters described therein. All capitalized terms used in this Joinder and Release Agreement and not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 
 The Company hereby confirms, represents and
warrants to the Administrative Agent and the Lenders that New Mexico Gas Company, Inc. (“NMG”) is a Subsidiary of the Company. 

The Company hereby designates NMG as a Borrower under the Credit Agreement in accordance with Section 2.12 of the Credit Agreement. In
connection therewith, NMG confirms that the representations and warranties set forth in Article IV of the Credit Agreement are true and correct as of the date hereof. From the date of the Joinder and Release Agreement and subject to the satisfaction
of the requirements set forth in Section 2.12 and Section 3.2 of the Credit Agreement, (i) NMG shall be the sole “Borrower” for all purposes under the Credit Agreement, and NMG agrees to perform all of the obligations of a
Borrower under, and be bound in all respects by the terms of, the Credit Agreement as if it were a signatory party thereto as Borrower; and (ii) the Company shall no longer be a party to the Credit Agreement and shall have no further rights or
obligations thereunder. 
 NMG REQUESTS AND THE JOINDER AND RELEASE AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK. 

  
 EXHIBIT I-1 

 IN WITNESS WHEREOF, the parties hereto have caused this Joinder and Release Agreement to be duly
executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	TECO ENERGY, INC.
		
	By	 	  

		 	Name:
		 	Title:
	
	NEW MEXICO GAS COMPANY, INC.
		
	By	 	  

		 	Name:
		 	Title:

  

			
	Accepted:
	
	 JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

		
	By	 	  

		 	Title:

  
 EXHIBIT I-2EX-10.1

 Exhibit 10.1 

REORGANIZATION AND PURCHASE AGREEMENT 

By and Among 
 ARC REHABILITATION
SERVICES, LLC, 
 ATHLETIC & REHABILITATION CENTER, LLC, 

MATTHEW J. CONDON, 
 KEVIN
O’ROURKE 
 AND 
 U.S.
PHYSICAL THERAPY, LTD. 
 (THE PURCHASER) 

Dated as of December 13, 2013 

 Table of Contents 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	  
	 Section 1.1
	  	 Definitions
	  	 	2	  
	 Section 1.2
	  	 Certain Interpretive Matters
	  	 	9	  
		
	 ARTICLE II PRE-CLOSING REORGANIZATION, SALE AND PURCHASE
	  	 	10	  
	 Section 2.1
	  	 Pre-Closing Reorganization
	  	 	10	  
	 Section 2.2
	  	 Purchase and Sale of Purchased Interests
	  	 	11	  
		
	 ARTICLE III PURCHASE PRICE AND CLOSING PAYMENTS
	  	 	11	  
	 Section 3.1
	  	 Closing Purchase Price
	  	 	11	  
		
	 ARTICLE IV CLOSING AND CLOSING DELIVERIES
	  	 	12	  
	 Section 4.1
	  	 The Closing
	  	 	12	  
	 Section 4.2
	  	 Deliveries of Seller and the Shareholders
	  	 	12	  
	 Section 4.3
	  	 Deliveries by Purchaser
	  	 	13	  
		
	 ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE SELLERS AND THE OWNERS
	  	 	14	  
	 Section 5.1
	  	 Corporate Existence and Power
	  	 	14	  
	 Section 5.2
	  	 Authorization; Enforceability
	  	 	14	  
	 Section 5.3
	  	 Governmental Authorization
	  	 	14	  
	 Section 5.4
	  	 Non-Contravention; Consents
	  	 	14	  
	 Section 5.5
	  	 Capitalization
	  	 	15	  
	 Section 5.6
	  	 Subsidiaries
	  	 	16	  
	 Section 5.7
	  	 Financial Statements
	  	 	16	  
	 Section 5.8
	  	 No Undisclosed Liabilities
	  	 	16	  
	 Section 5.9
	  	 Tax Matters
	  	 	16	  
	 Section 5.10
	  	 Absence of Certain Changes
	  	 	17	  
	 Section 5.11
	  	 Contracts
	  	 	17	  
	 Section 5.12
	  	 Insurance Coverage
	  	 	17	  
	 Section 5.13
	  	 Litigation
	  	 	18	  
	 Section 5.14
	  	 Compliance with Laws; Permits
	  	 	18	  
	 Section 5.15
	  	 Assets; Properties; Sufficiency of Assets
	  	 	19	  
	 Section 5.16
	  	 Intellectual Property
	  	 	19	  
	 Section 5.17
	  	 Environmental Matters
	  	 	20	  
	 Section 5.18
	  	 Benefit Plans and Material Documents
	  	 	20	  
	 Section 5.19
	  	 Affiliate Transactions
	  	 	21	  
	 Section 5.20
	  	 Referral Relationships
	  	 	21	  
	 Section 5.21
	  	 Other Employment Matters
	  	 	22	  
	 Section 5.22
	  	 Credentialing
	  	 	22	  
	 Section 5.23
	  	 Exclusion
	  	 	23	  
	 Section 5.24
	  	 Federal Health Care Programs
	  	 	23	  
	 Section 5.25
	  	 Billing; Gratuitous Payments
	  	 	23	  
	 Section 5.26
	  	 Reimbursement Matters
	  	 	24	  
	 Section 5.27
	  	 Finders’ Fees
	  	 	24	  
	 Section 5.28
	  	 Accounts Receivable
	  	 	24	  
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES OF PURCHASER
	  	 	24	  

  
 i 

							
	 Section 6.1
	  	 Existence and Power
	  	 	24	  
	 Section 6.2
	  	 Authorization; Enforceability
	  	 	24	  
	 Section 6.3
	  	 Governmental Authorization
	  	 	25	  
	 Section 6.4
	  	 Non-Contravention
	  	 	25	  
	 Section 6.5
	  	 Pending Claims, Litigation, or Bankruptcy
	  	 	25	  
		
	 ARTICLE VII ADDITIONAL AGREEMENTS
	  	 	26	  
	 Section 7.1
	  	 Employees and Benefits
	  	 	26	  
	 Section 7.2
	  	 Seller Retained Assets; Partnership Assumed Liabilities
	  	 	26	  
	 Section 7.3
	  	 Misdirected Payments
	  	 	27	  
	 Section 7.4
	  	 Nonassignable Contracts, Leases and Permits.
	  	 	27	  
	 Section 7.5
	  	 Further Assurances
	  	 	28	  
	 Section 7.6
	  	 Immigration
	  	 	28	  
	 Section 7.7
	  	 Real Property Leases
	  	 	28	  
	 Section 7.8
	  	 Insurance
	  	 	28	  
	 Section 7.9
	  	 Minimum Cash Balance
	  	 	28	  
	 Section 7.10
	  	 Bardavon
	  	 	28	  
	 Section 7.11
	  	 General
	  	 	29	  
		
	 ARTICLE VIII CERTAIN TAX MATTERS
	  	 	29	  
	 Section 8.1
	  	 Transfer Taxes
	  	 	29	  
	 Section 8.2
	  	 Partnership Status
	  	 	29	  
	 Section 8.3
	  	 Section 754 Election
	  	 	29	  
	 Section 8.4
	  	 Pre-Closing Tax Periods
	  	 	29	  
	 Section 8.5
	  	 Tax Cooperation
	  	 	29	  
		
	 ARTICLE IX SURVIVAL; INDEMNIFICATION
	  	 	29	  
	 Section 9.1
	  	 Survival
	  	 	29	  
	 Section 9.2
	  	 Indemnification
	  	 	30	  
	 Section 9.3
	  	 Procedures
	  	 	31	  
	 Section 9.4
	  	 Offset
	  	 	32	  
	 Section 9.5
	  	 Payment of Indemnification Payments
	  	 	33	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	33	  
	 Section 10.1
	  	 Notices
	  	 	33	  
	 Section 10.2
	  	 Amendments and Waivers
	  	 	34	  
	 Section 10.3
	  	 Expenses
	  	 	34	  
	 Section 10.4
	  	 Successors and Assigns
	  	 	34	  
	 Section 10.5
	  	 No Third-Party Beneficiaries
	  	 	34	  
	 Section 10.6
	  	 Governing Law
	  	 	34	  
	 Section 10.7
	  	 Jurisdiction
	  	 	34	  
	 Section 10.8
	  	 Counterparts
	  	 	35	  
	 Section 10.9
	  	 Table of Contents; Headings
	  	 	35	  
	 Section 10.10
	  	 Entire Agreement
	  	 	35	  
	 Section 10.11
	  	 Severability; Injunctive Relief
	  	 	35	  
	 Section 10.12
	  	 Arbitration
	  	 	36	  

  
 ii 

 EXHIBITS 

Re-number Exhibits 
  

			
	Exhibit A	  	Certificate of Formation of the General Partner
	Exhibit B	  	Limited Liability Company Agreement of the General Partner
	Exhibit C	  	Seller Contribution Agreement
	Exhibit D	  	Certificate of Formation of Limited Partnership
	Exhibit E	  	Assignment of Purchased Interests
	Exhibit F	  	Amended and Restated Agreement of Limited Partnership
	Exhibit G	  	Note
	Exhibit H	  	Guaranty
	Exhibit I	  	Locations
	Exhibit J	  	Employment Agreements
	Exhibit K	  	Management Agreement
	Exhibit L	  	Non-Competition Agreements
	Exhibit M	  	Director Employment Agreement Form
	Exhibit N	  	Leases
	Exhibit O	  	Seller Counsel Legal Opinion

  
 iii 

 REORGANIZATION AND PURCHASE AGREEMENT 

This REORGANIZATION AND PURCHASE AGREEMENT is dated as of December 13, 2013, by and among ARC Rehabilitation Services, LLC, a Missouri
limited liability company (“ARC Services”), Athletic & Rehabilitation Center, LLC, a Missouri limited liability company (“ARC Center”), Matthew J. Condon (“Condon”), Kevin O’Rourke
(“O’Rourke”) and U.S. Physical Therapy, Ltd., a Texas limited partnership (the “Purchaser”). (ARC Services and ARC Center are sometimes collectively referred to as the “Sellers” or individually
as a “Seller”); Condon and O’Rourke are sometimes collectively referred to as the “Owners” or individually as an “Owner”) 

RECITALS 
 A. Condon and
his spouse own all of the issued and outstanding stock of Condon Management Services, Inc. (“Condon Management”) and O’Rourke and his spouse own all of the issued and outstanding stock of O’Rourke Management Services, Inc.
(“O’Rourke Management”); Condon Management and O’Rourke Management own, in equal shares, all of the issued and outstanding Capital Stock of ARC Investment Services, LLC, which in turn owns all of the issued and outstanding
Capital Stock of the Sellers, each of which has been, and will continue to be until immediately prior to the Pre-Closing Reorganization, engaged in the Business. 

B. The Sellers and Purchaser, formed or caused to be formed ARC Physical Therapy Plus, Limited Partnership, a Texas limited partnership
(“Partnership”), and ARC PT Management GP, LLC, a Texas limited liability company and sole general partner of Partnership (the “General Partner”), to succeed to the Business of the Sellers and caused Partnership to
be qualified to do business in Kansas and Missouri in accordance with applicable law (collectively the “Pre-Closing Reorganization”), all as provided in this Agreement; 

C. Immediately subsequent to the Pre-Closing Reorganization, and on the terms and subject to the conditions of this Agreement, at the Closing,
the Purchaser shall, in consideration of the Closing Purchase Price, purchase (or cause one or more of its Affiliates to purchase) from the Sellers (A) one hundred percent (100%) of the membership interests in the General Partner (the
General Partner holds a 1% interest in the Partnership) and (B) 89% of the LP Interests. In connection with these transactions, the Sellers shall assign their remaining LP Interests to certain individuals who shall in turn contribute those LP
Interests to ARC Equity Partners. 
 D. As a result of the consummation of the Pre-Closing Reorganization and the Closing, all on and
subject to the terms and conditions herein set forth, at the Effective Time: (i) ARC Equity Partners shall own 10% of the Partnership Interests, all of which shall be LP Interests; (ii) the Purchaser shall own or, as the sole owner of the
General Partner, control, ninety percent (90%) of the Partnership Interests, including (A) all of the GP Interests and (B) eighty-nine percent (89%) of the LP Interests; and (iii) Partnership shall engage in the Business.

  
 1 

 NOW, THEREFORE, in consideration of the premises and the mutual agreements and covenants
hereinafter set forth, the Purchaser, the Owners and the Sellers hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. In addition to the terms defined elsewhere herein, the terms below are defined as follows: 

“Accounts Receivable” means all accounts and notes receivable relating to the Business. 

“Affected Employees” has the meaning set forth in Section 7.1(a). 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under
common control with the first Person and, if such first Person is an individual, any member of the immediate family (including parents, spouse and children) of such individual and any trust whose principal beneficiary is such individual or one or
more members of such individual’s immediate family, and any Person who is controlled by any such member or trust. For the purposes of this Agreement, “control,” when used with respect to any Person, means the possession,
directly or indirectly, of the power to (a) vote 10% or more of the securities having ordinary voting power for the election of directors (or comparable positions) of such Person or (b) direct or cause the direction of the management and
policies of such Person, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agreement” means this Reorganization and Purchase Agreement, as the same may be amended from time to time in accordance with
the terms hereof. 
 “Agreement of Limited Partnership” means the agreement of limited partnership of Partnership in the
form of Exhibit F, to be executed and delivered by ARC Equity Partners and the Purchaser at Closing. 
 “Ancillary
Agreements” means the Assignment, the Agreement of Limited Partnership, the Employment Agreements, the Management Agreement, the Non-Competition Agreement, the Pre-Closing Reorganization Documents, Management Services Agreement, Employment
Agreement, Director Employment Agreements and all other instruments, certificates and other agreements entered into by the Sellers and/or Owners in connection with the consummation of the transactions contemplated by this Agreement. 

“ARC Equity Partners” means ARC Equity Partners, LLC, a Missouri limited liability company owned by Condon, Weeks and
Stewart. 
 “Assignment” means the assignment of purchased interests in the form of Exhibit E to be executed and
delivered by the Seller at Closing. 
 “Balance Sheet Date” means October 31, 2013. 

“Benefit Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA, and any other plan, program,
agreement, arrangement, policy, contract, commitment or scheme, written or oral, statutory or contractual, that provides for compensation or benefits, including any deferred compensation, executive compensation, bonus or incentive plan, any
cafeteria plan or any holiday or vacation plan or practice. 

  
 2 

 “Business” means the business of Partnership as now conducted (and the business
of the Sellers as conducted prior to the consummation of the Pre-Closing Reorganization), including the business of providing outpatient physical and occupational therapy services, including pre- and
post-operative care and treatment for orthopedic-related disorders, sport related injuries, preventative care, rehabilitation of injured workers and neurological-related injuries from the locations and in the areas identified on the attached
Exhibit I. 
 “Business Day” means a day that is not a Saturday, Sunday or a day on which commercial banking
institutions located in Houston, Texas are authorized or required to close. 
 “Capitalized Lease Obligations” means the
obligations of a Person that are required to be classified and accounted for as capital lease obligations under GAAP, together with all obligations to make termination payments under such capitalized lease obligations. 

“Capital Stock” means (a) with respect to any Person that is a corporation, any and all shares, interests, participation
or other equivalents (however designated and whether or not voting) of corporate stock, including the common stock of such Person, and (b) with respect to any Person that is not a corporation, any and all partnership, limited liability or
membership interests or other equity interests of such Person. 
 “CERCLA” means the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, 42 U.S.C. §§ 9601, et seq., as amended. 
 “Closing” has
the meaning set forth in Section 4.1. 
 “Closing Date Indebtedness” means the Indebtedness of the Sellers as of the
Closing Date. 
 “Closing Cash Consideration” has the meaning set forth in Section 3.1(c). 

“Closing Date” has the meaning set forth in Section 4.1. 

“Closing Date Transaction Expenses” has the meaning set forth in Section 3.1(b). 

“Closing Purchase Price” has the meaning set forth in Section 3.1. 

“Code” means the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder. 

“Condon” has the meaning set forth in the introductory paragraph of this Agreement. 

“Constituent of Concern” means any substance defined as a hazardous substance, hazardous waste, hazardous material, pollutant
or contaminant by any Environmental Law, any petroleum hydrocarbon and any degradation product of a petroleum hydrocarbon, asbestos, PCB or similar substance, the generation, recycling, use, treatment, storage, transportation, Release, disposal or
exposure of or to which is subject to regulation under any Environmental Law. 

  
 3 

 “Contracts” has the meaning set forth in Section 5.11. 

“Damages” has the meaning set forth in Section 9.2(a). 

“Direct Claim” has the meaning set forth in Section 9.3(c). 

“Effective Time” has the meaning set forth in Section 4.1. 

“Employment Agreements” means the employment agreements with Condon, Brian Stewart and Jeff Weeks, in the form of Exhibit
J hereto. 
 “Environmental Claims” means administrative, regulatory or judicial actions, suits, demands, demand
letters, claims, liens, citations, summonses, notices of non-compliance or violation, requests for information, investigations or proceedings relating in any way to the Release of Constituents of Concern or any Environmental Law, including
(a) Environmental Claims by Governmental Authorities for enforcement, cleanup, removal, response, remedial or other actions or damages pursuant to any applicable Environmental Law and (b) Environmental Claims by any third party seeking
damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from Constituents of Concern or arising from an alleged injury or threat of injury to human health and safety or the environment. 

“Environmental Condition” means a condition with respect to the environment, which has resulted or could reasonably be
expected to result in a material loss, liability, cost or expense to the Business or the Sellers. 
 “Environmental Law”
means any Law, administrative interpretation, administrative order, consent decree or judgment, or common law relating to the environment, human health and safety, including CERCLA, and any state and local counterparts or equivalents. 

“Environmental Permits” mean all Permits, licenses, authorizations, certificates and approvals of Governmental Authorities
relating to or required by Environmental Laws. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended, and any successor thereto. 
 “ERISA Affiliate” means any Person that, together with the Seller, would be
considered a single employer within the meaning of Section 4001 of ERISA or Section 414 of the Code. 
 “Estimated Dispute
Amount” has the meaning set forth in Section 9.4. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended, and the rules and regulations promulgated thereunder. 
 “General Partner” has the meaning set forth in
Recital B to this Agreement. 

  
 4 

 “General Partner Formation” has the meaning set forth in Section 2.1(i).

 “Governmental Authority” means any domestic or foreign governmental or regulatory agency, authority, bureau, commission,
department, official or similar body or instrumentality thereof, or any governmental court, arbitral tribunal or other body administering alternative dispute resolution. 

“GP Formation Documents” has the meaning set forth in Section 4.2(i). 

“GP Interests” has the meaning set forth in Section 2.1(ii). 

“Guaranty” has the meaning set forth in Section 3.1. 

“Immediate Family Relationship” means husband or wife; birth or adoptive parent, child or sibling; stepparent; stepchild;
stepbrother or stepsister; father-in-law, mother-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law; grandparent or grandchild; and spouse of a grandparent or grandchild. 

“Indebtedness” means with respect to any Seller, at any date, without duplication, (a) all obligations of such Seller
for borrowed money, including all principal, interest, premiums, fees, expenses, overdrafts and penalties with respect thereto, (b) all obligations of such Seller evidenced by bonds, debentures, notes or other similar instruments, (c) all
obligations of such Seller to pay the deferred purchase price of the property or services, except trade payables incurred in the Ordinary Course of Business, (d) all obligations of such Seller to reimburse any bank or other Seller in respect of
amounts paid under a letter of credit or similar instrument, and (e) all indebtedness of any other Person of the type referred to in clauses (a) to (d) above directly or indirectly guaranteed by such Seller or secured by any assets of
such Seller, whether or not such Indebtedness has been assumed by such Seller. 
 “Indemnified Party” has the meaning set
forth in Section 9.3(a). 
 “Indemnifying Party” has the meaning set forth in Section 9.3(a). 

“Intellectual Property Right” means any trademark, service mark, trade name, product designation, logo, slogan, invention,
patent, trade secret, copyright, know-how, proprietary design or process, computer software and database, Internet address or domain name (including any registrations or applications for registration or renewal of any of the foregoing), research in
progress, or any other similar type of proprietary intellectual property right, in each case which is used or held for use or otherwise necessary in connection with the conduct of the Business. 

“IRS” means the Internal Revenue Service. 

“Law” means any federal, foreign, state or local statute, law, including common law, rule, regulation, ordinance,
code, permit or license. 
 “Lien” means, with respect to any property or asset, any mortgage, lien, pledge, charge,
security interest, encumbrance or other adverse claim of any kind in respect of such property or asset. For the purposes of this Agreement, a Seller will be deemed to own, subject to a Lien, any 

  
 5 

 
property or asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to
such property or asset. 
 “LP Interests” has the meaning set forth in Section 2.1(ii). 

“Management Agreement” means that certain Management Agreement dated the date hereof between U.S. PT Management, Ltd., an
Affiliate of the General Partner, and Partnership, in the form of Exhibit K hereto. 
 “Material Adverse Effect”
means (i) with respect to the Sellers, a material adverse effect on the business, assets, liabilities, condition (financial or otherwise), or results of operations of the Sellers and Partnership taken as a whole and (ii) with respect to
the Purchaser, a material adverse effect on the business, assets, liabilities, condition (financial or otherwise) or results of operations of the Purchaser and its Subsidiaries, taken as a whole; provided, however, that none of the following shall
be deemed to constitute, and none of the following shall be taken into account in determining whether there has been a Material Adverse Effect: any adverse change, event, development, or effect arising from or relating to (a) general business
or economic conditions, (b) national or international political or social conditions, including the engagement by the United States in hostilities, whether or not pursuant to the declaration of a national emergency or war, or the occurrence of
any military or terrorist attack upon the United States, or any of its territories, possessions, or diplomatic or consular offices or upon any military installation, equipment or personnel of the United States, (c) financial, banking, or
securities markets (including any disruption thereof and any decline in the price of any security or any market index), (d) changes in United States generally accepted accounting principles, (e) changes in law, rules, regulations, orders,
or other binding directives issued by any governmental entity or any interpretation thereof if promulgated by a governmental agency or court of competent jurisdiction, or (f) the taking of any action contemplated by this Agreement and the other
agreements contemplated hereby, except, in the case of clauses (a), (b), (c) and (e), to the extent the effect on the Sellers and Partnership taken as a whole, is disproportionate to the effect on other participants engaged in a business that
(i) is substantially similar to the Business operated by the Sellers immediately prior to the Pre-Closing Reorganization or (ii) otherwise involves the physician or other healthcare provider market for whose benefit the Business relates.

 “Minimum Cash Balance” has the meaning set forth in Section 7.9. 

“Non-Competition Agreements” means the non-competition agreements among the Owners, the Sellers and the Purchaser in
substantially the form of Exhibit L hereto. 
 “Note” has the meaning set forth in Section 3.1(d). 

“Order” means any judgment, injunction, judicial or administrative order or decree. 

“Ordinary Course of Business” means, with respect to either Seller, the ordinary course of business of such Seller,
consistent with such Seller’s past practice and custom, including, with respect to any category, quantity or dollar amount, term and frequency of payment, delivery, accrual, expense or any other accounting entry, and in the case of accounts
payable and accounts receivables, with respect to the timing, posting, payment and collection thereof. 

  
 6 

 “Owners” has the meaning set forth in the introductory paragraph of this
Agreement. 
 “Parent” means U.S. Physical Therapy, Inc., a Nevada corporation and ultimate parent corporation of
Purchaser. 
 “Partnership” has the meaning set forth in Recital B to this Agreement. 

“Partnership Assumed Liabilities” has the meaning set forth in Section 7.2(b). 

“Partnership Formation” has the meaning set forth in Section 2.1(ii). 

“Partnership Formation Documents” has the meaning set forth in Section 4.2(i). 

“Partnership Interests” has the meaning set forth in Section 2.1(ii). 

“Permit” has the meaning set forth in Section 5.14(b). 

“Permitted Lien” means (a) mechanics’ Liens, workmen’s Liens, carriers’ Liens, repairmen’s Liens,
landlord’s Liens, and (b) statutory Liens for Taxes, assessments and other similar governmental charges that are not overdue. 

“Person” means an individual, corporation, partnership, limited liability company, joint venture, association, trust or other
entity or organization or Governmental Authority. 
 “Pre-Closing Reorganization” has the meaning specified in Recital B to
this Agreement and in Section 2.1(ii) of this Agreement. 
 “Pre-Closing Reorganization Documents” has the meaning set
forth in Section 4.2(i). 
 “Pre-Closing Tax Period” means any Tax period (or portion thereof) that ends on or before
the Closing Date. 
 “Prime Rate” means a per annum rate of interest equal to the rate of interest published as of the
specified date by The Wall Street Journal as the “prime rate” at large U.S. money center banks. 

“Property” means any real property and improvements at any time owned, leased, used, operated or occupied (whether for
storage, disposal or otherwise) by the Seller. 
 “Purchased Interests” means (i) 100% of all of the issued and
outstanding Capital Stock of the General Partner (with the General Partner holding a 1% interest in the Partnership) and (ii) 89% of the LP Interests of Partnership, to be purchased by the Purchaser on the Closing Date immediately after
consummation of the Pre-Closing Reorganization, subject to the terms and conditions of this Agreement. 
 “Purchaser” has
the meaning set forth in the introductory paragraph of this Agreement. 
 “Qualifications” has the meaning set forth in
Section 2.1(ii). 

  
 7 

 “Real Property” has the meaning set forth in Section 5.15(b). 

“Reference Financial Statements” means the statements of income for the twelve months ended October 31, 2013, along with
internally prepared balances as of October 31, 2013 for accounts receivable, accounts payable, cash, fixed assets, all of which are attached hereto as Schedule 5.7. 

“Release” means any release, spill, emission, discharge, leaking, pumping, injection, deposit, disposal, discharge,
dispersal, leaching or migration into the environment (including ambient air, surface water, groundwater and surface or subsurface strata) or into or out of any Property, including the movement of Constituents of Concern through or in the air, soil,
surface water, groundwater or property. 
 “Retained Liabilities” has the meaning set forth in Section 7.2(b). 

“Returns” means returns, declarations, reports, claims for refund, information returns or other documents (including any
related or supporting schedules, statements or information) and including any amendment thereof filed or required to be filed in connection with the determination, assessment or collection of Taxes of any party or the administration of any Laws
relating to any Taxes. 
 “Selected Representations and Warranties” means the representations and warranties contained in
Sections 5.2 (Authorization; Enforceability), 5.3 (Governmental Authorization), 5.9 (Tax Matters), 5.14 (Compliance with Laws; Permits), 5.17 (Environmental Matters), 5.22 (Credentialing), 5.24 (Federal Health Care Programs), 5.25 (Billing;
Gratuitous Payments), 5.26 (Reimbursement Matters). 
 “Sellers” has the meaning set forth in the introductory paragraph of
this Agreement. 
 “Seller Benefit Plans” has the meaning set forth in Section 5.18(a). 

“Seller Retained Assets” has the meaning set forth in Section 7.2(a). 

“Seller Shares” means 100% of the issued and outstanding shares of Capital Stock of the Sellers. 

“Stewart” means Brian Stewart. 

“Subsidiary” means, with respect to any Seller, (a) any corporation 50% or more of whose stock of any class or classes
having by the terms thereof ordinary voting power to elect a majority of the directors of such corporation (irrespective of whether or not at the time stock of any class or classes of such corporation have or might have voting power by reason of the
happening of any contingency) is at the time owned by such Seller, directly or indirectly through Subsidiaries, and (b) any partnership, limited liability company, association, joint venture, trust or other entity in which such Seller, directly
or indirectly through Subsidiaries, is either a general partner, has a 50% or greater equity interest at the time or otherwise owns a controlling interest. 

  
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 “Tax” means (a) any net income, alternative or add-on minimum tax, gross
income, gross receipts, sales, use, ad valorem, value added, transfer, franchise, profits, license, withholding on amounts paid by either of the Sellers, payroll, employment, excise, severance, stamp, occupation, premium, property, environmental or
windfall profit tax, custom, duty or other tax, governmental fee or other like assessment or charge of any kind whatsoever, together with any interest, penalty, addition to tax or additional amount imposed by any Taxing Authority, (b) any
liability of either of the Sellers for the payment of any amounts of any of the foregoing types as a result of being a member of an affiliated, consolidated, combined or unitary group, or being a party to any agreement or arrangement whereby
liability of the Sellers for payment of such amounts was determined or taken into account with reference to the liability of any other Person, and (c) any liability of either of the Sellers for the payment of any amounts as a result of being a
party to any Tax-Sharing Agreement or with respect to the payment of any amounts of any of the foregoing types as a result of any express or implied obligation to indemnify any other Person. 

“Tax-Sharing Agreements” means all existing Tax-sharing agreements or arrangements (whether or not written) that are binding
on either of the Sellers. 
 “Taxing Authority” means any Governmental Authority having jurisdiction over the assessment,
determination, collection or other imposition of any Tax. 
 “Third-Party Claim” means any claim, demand, action, suit or
proceeding made or brought by any Person who or which is not a party to this Agreement or who or which is not an Affiliate of any party to this Agreement. 

“Transaction Expenses” means the aggregate amount of all out-of-pocket fees and expenses, liabilities or obligations of
Owners or Sellers or any of their respective Affiliates, relating to the negotiation, preparation or execution of this Agreement or any documents or agreements contemplated hereby or the performance or consummation of the transactions contemplated
hereby incurred outside the Ordinary Course of Business, including (a) any fees and expenses associated with obtaining necessary or appropriate waivers, consents or approvals of any Governmental Authority or third parties on behalf of Sellers
or Partnership, (b) any fees or expenses associated with obtaining the release and termination of any Liens or Indebtedness, (c) all brokers’ or finders’ fees, and (d) fees and expenses of counsel, advisors, consultants,
investment bankers, accountants, auditors and experts, and (e) any awarded discretionary bonuses, sale, change of control, “stay-around,” retention, success or similar bonuses, severance or other payments to any Person in connection
with or upon the consummation of the transactions contemplated hereby, in all cases, whether payable prior or on the Closing Date or thereafter. 

“Weeks” means Jeff Weeks. 

Section 1.2 Certain Interpretive Matters When a reference is made in this Agreement to an Article, Section, Exhibit or Schedule,
such reference will be to an Article or Section of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated. Whenever the words, “include,” “includes” or “including” are used in this Agreement, they will
be deemed to be followed by the words “without limitation.” The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not 

  
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to any particular provision of this Agreement. All terms defined in this Agreement have the defined meanings when used in any certificate or other document made or delivered pursuant hereto
unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. All references to
“$” or dollar amounts will be to lawful currency of the United States of America. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement,
instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to
all attachments thereto and instruments incorporated therein. References to a Person are also to its permitted successors and assigns. Each of the Schedules will apply only to its corresponding Section or subsection of this Agreement. To the extent
the term “day” or “days” is used, it will mean calendar days unless referred to as a “Business Day.” 

(b) No provision of this Agreement will be interpreted in favor of, or against, any of the parties hereto by reason of the extent to which any
such party or its counsel participated in the drafting thereof or by reason of the extent to which any such provision is inconsistent with any prior draft hereof or thereof. 

(c) All references to the “knowledge of Seller” or to words of similar import will be deemed to be references to the actual
knowledge of at least one of the Owners, and will include such knowledge as an Owner would have had after reasonable inquiry of the managers of the respective clinics owned and operated by the Sellers. 

ARTICLE II 
 PRE-CLOSING
REORGANIZATION, SALE AND PURCHASE 
 Section 2.1 Pre-Closing Reorganization On the Closing Date but at or prior to the
Closing, the Sellers and the Owners shall have consummated, or cause to have been consummated, the following transactions to effect a reorganization of the Business conducted by Sellers: 

(i) Sellers have formed the General Partner, and transferred and conveyed a one percent (1%) undivided interest in all of
the assets of Sellers (other than the Seller Retained Assets) to the General Partner in exchange for one hundred percent (100%) of the membership interests in the General Partner (the “General Partner Formation”); and 

(ii) Immediately following the General Partner Formation and immediately prior to the Closing (the following paragraphs
(A) through (E), collectively, the “Partnership Formation”): (A) Sellers and the General Partner have formed Partnership; (B) Sellers have transferred and conveyed to Partnership a ninety-nine percent
(99%) undivided interest in all of the assets of Sellers (other than the Seller Retained Assets) in exchange for a limited partnership interest in Partnership (the “LP Interests”), which LP Interests will constitute ninety-nine
percent (99%) of the total ownership interests in Partnership, and Partnership has assumed those liabilities of Sellers set forth on Schedule 7.2(b)(i); (C) the General Partner has transferred and conveyed to Partnership the one

  
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percent (1%) undivided interest of the assets in Sellers (other than the Seller Retained Assets) received as part of the General Partner Formation in exchange for all of the general
partnership interests in Partnership (the “GP Interests”), which GP Interests constitutes one percent (1%) of the total ownership interests in Partnership (the LP Interests and the GP Interests, collectively the
“Partnership Interests”); and (D) each of Partnership and the General Partner has qualified to do business in Kansas and Missouri in accordance with applicable law (collectively, the “Qualifications”) (the
transactions described in clauses (i) and (ii) of this Section 2.1, collectively the “Pre-Closing Reorganization”); and 

(iii) Immediately following the Pre-Closing Reorganization and prior to the Closing, ARC Services shall assign a one percent
(1%) LP Interest to each of Weeks and Stewart. 
 (iv) Simultaneously with the Closing, (A) the Sellers shall
assign their LP Interests not included in the Purchased Interests to Condon and (B) Condon, Weeks and Stewart shall contribute all of their LP Interests to ARC Equity Partners. 

Section 2.2 Purchase and Sale of Purchased Interests. Immediately following the Pre-Closing Reorganization and the transactions
contemplated by Section 2.1(iii), and simultaneously with the transactions contemplated by Section 2.1(iv), and upon the terms and subject to the conditions of this Agreement, at the Closing, the Sellers agree to sell to the Purchaser, and
the Purchaser shall purchase (or Purchaser shall cause one or more of its Affiliates to purchase) from the Sellers, the Purchased Interests, free and clear of all Liens. The Sellers shall pay any Taxes payable with respect to the transfer of
Purchased Interests to the Purchaser. 
 ARTICLE III 

PURCHASE PRICE AND CLOSING PAYMENTS 

Section 3.1 Closing Purchase Price In consideration for the conveyance by the Sellers to the Purchaser of the Purchased Interests,
at the Closing, the Purchaser will pay, or cause to be paid, the amount of Thirty Five Million Nine Hundred Fifty Five Thousand Dollars ($35,955,000) (the “Closing Purchase Price”), payable as follows: 

(a) an amount of cash by wire transfer of immediately available funds sufficient to satisfy in full the Closing Date Indebtedness, to the
applicable lender(s) or other payee(s) and in the amounts set forth on Schedule 3.1(a), to the bank account(s) designated in writing by such lenders or other payee(s) no later than the second Business Day prior to Closing; 

(b) an amount of cash by wire transfer of immediately available funds sufficient to satisfy in full all of the Transaction Expenses not paid
by Sellers prior to Closing, to the payees and in the amounts set forth on Schedule 3.1(b) (the “Closing Date Transaction Expenses”), to a bank account(s) designated in writing by such payees no later than the second Business
Day prior to Closing; 

  
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 (c) Thirty Five Million Four Hundred Fifty Five Thousand Dollars ($35,455,000), less an amount
equal to the sum of the Closing Date Indebtedness and the Closing Date Transaction Expenses, in cash to Sellers by wire transfer of immediately available funds to the account or accounts designated in writing by the Sellers, such designation to
occur no later than the second Business Day prior to Closing (such amount, together with the amounts payable under clauses (a) and (b) above, collectively, the “Closing Cash Consideration”); and 

(d) Five Hundred Thousand Dollars ($500,000) by the issuance by the Purchaser to Sellers’ designee(s) of a two-year promissory note
payable to the Seller in the aggregate original principal amount of Five Hundred Thousand Dollars ($500,000), in the form attached hereto as Exhibit G (the “Note”). The Note shall (i) bear interest at the annual rate
equal to Prime Rate (which shall be re-set, as applicable, on the one-year anniversary of the Closing Date) payable in two (2) equal installments of principal (plus accrued and unpaid interest) on the first and second anniversary of the Closing
Date, (ii) provide for prepayments, without penalty, at any time by the Purchaser and (iii) be unconditionally guaranteed by the Parent (the “Guaranty”). 

ARTICLE IV 
 CLOSING AND
CLOSING DELIVERIES 
 Section 4.1 The Closing. The Pre-Closing Reorganization, the other transactions contemplated by
Section 2.1 and the closing of the sale and purchase of the Purchased Interests (the “Closing”) is taking place on December 13, 2013, by Federal Express or by the exchange of all applicable signature pages via facsimile or
other electronic transmission. The date upon which the Closing occurs is herein referred to as the “Closing Date.” The Closing shall be effective as of 11:59:59 p.m. on the Closing Date. The time at which the Closing of the purchase
and sale of the Purchased Interests becomes effective is herein called the “Effective Time.” 
 Section 4.2
Deliveries of Sellers and the Owners At the Closing, the Sellers and the Owners will deliver, or cause to be delivered, to the Purchaser: 

(i) all documents necessary to evidence consummation of the Pre-Closing Reorganization (collectively, the “Pre-Closing
Reorganization Documents”) duly executed by the Sellers, Owners, the General Partner or Partnership, as applicable, including: (A) the Certificate of Formation of the General Partner and the Limited Liability Company Agreement
of the General Partner, true and correct copies of which are attached hereto as Exhibit A and Exhibit B, respectively; (C) the Sellers’ Contribution Agreements to effect the GP Formation, a true and correct copy of which is
attached hereto as Exhibit C (such Exhibit A, Exhibit B and Exhibit C, collectively, the “GP Formation Documents”); (D) the Certificate of Formation of Partnership, a true and correct copy of which
is attached hereto as Exhibit D, (E) the Sellers’ Contribution Agreements to effect the Partnership Formation, a true and correct copy of which is attached hereto as Exhibit E (such Exhibit D and Exhibit E,
collectively, the “Partnership Formation Documents”); (F) the foreign qualification applications to qualify each of the General Partner and Partnership to do business in Kansas and Missouri, to effect the Qualifications; and
(G) such other documents as may be reasonably necessary to consummate the Pre-Closing Reorganization (the items in clauses (A) through (G) collectively, the “Pre-Closing Reorganization
Documents”), as well as all documents reasonably necessary to effect the other transactions contemplated by Section 2.1; 

  
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 (ii) a certificate of the secretary of each of the Sellers certifying as to the
Sellers’ respective operating agreements and each of the Pre-Closing Reorganization Documents; 
 (iii) evidence or
copies of the consents, approvals, orders, qualifications or waivers required by any third party or Governmental Authority to consummate the transactions contemplated by this Agreement that are listed in Schedule 5.4; 

(iv) each Ancillary Agreement (other than those provided under clause (i) above) required to be executed and delivered by
parties other than the Purchaser or its Affiliates; 
 (v) pay-off letters executed and delivered from all holders of the
Closing Date Indebtedness, which pay-off letters set forth the term and conditions of payment and satisfaction in full of all such Closing Date Indebtedness and release of all Liens, if any, granted by Sellers or Owners and existing as of the
Closing Date; 
 (vi) resignations of the managers and officers, if any, of the General Partner and the officers of
Partnership; 
 (vii) the opinion of Seigfreid Bingham, in substantially the form of Exhibit O; and 

(viii) executed employment agreements (along with noncompetition and non-solicitation agreements) in the form of Exhibit
M between the Partnership and each of the directors (“Director Employment Agreements”); and 
 (ix) such other
documents and instruments as may be reasonably required to consummate the transactions contemplated by this Agreement and the Ancillary Agreements and to comply with the terms hereof and thereof. 

Section 4.3 Deliveries by Purchaser At the Closing, the Purchaser will deliver, or cause to be delivered, to the Sellers (and
Owners in the case of item (i)): 
 (i) the Closing Cash Consideration to the payees, Sellers and Owners, as applicable by
wire transfer of immediately available funds to the accounts specified pursuant to Section 3.1; 
 (ii) the Note in the
form of Exhibit G executed by the Purchaser; 
 (iii) the Guaranty in the form of Exhibit H executed by the
Parent; 
 (iv) each Ancillary Agreement required to be duly authorized and delivered by the Purchaser or its Affiliates; and

  
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 (v) such other documents and instruments as may be reasonably required to
consummate the transactions contemplated by this Agreement and the Ancillary Agreements and to comply with the terms hereof and thereof. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

OF THE SELLERS AND THE OWNERS 

The Sellers and the Owners jointly and severally represent and warrant to the Purchaser as of the time immediately prior to the consummation
of the Pre-Closing Reorganization, except if expressly provided as of another time, as follows: 
 Section 5.1 Corporate Existence
and Power Each of the Sellers (i) is a limited liability company duly organized and validly existing in good standing under the laws of the State of Missouri, (ii) has the corporate power required to carry on the Business as now
conducted and (iii) is duly qualified to conduct business as a foreign entity and is in good standing in the State of Kansas. 

Section 5.2 Authorization; Enforceability As of Closing, the execution, delivery and performance of this Agreement by the Sellers
and the Owners and of each of the Ancillary Agreements by the Sellers or the Owners (to the extent it will be a party thereto at the Closing) are within each such party’s powers and have been duly authorized by all necessary actions, and no
other action on the part of any such party is necessary to authorize this Agreement or any of the Ancillary Agreements to which any such party is a party at the Closing. As of Closing, this Agreement has been, and each of the Ancillary Agreements to
which the Sellers or the Owners is a party at the Closing, have been duly executed and delivered by such party, as applicable. Assuming the due execution by the Purchaser, as applicable, this Agreement constitutes, and each Ancillary Agreement to
which the Sellers or the Owners is a party at the Closing, constitutes as of the Effective Time, valid and binding agreements of each such party, enforceable against each such party in accordance with their terms, except as such enforcement may be
limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting enforcement of creditors’ rights generally and by general principles of equity (whether applied in a proceeding at law or in equity). 

Section 5.3 Governmental Authorization Except as disclosed in Schedule 5.3, as of Closing, the execution, delivery and
performance by the Sellers and the Owners of this Agreement and each Ancillary Agreement to which the Sellers or the Owners is a party at the Closing require no consent, approval, order, authorization or action by or in respect of, or filing with,
any Governmental Authority. 
 Section 5.4 Non-Contravention; Consents Except as disclosed in Schedule 5.4, as of
Closing, the execution, delivery and performance by the Sellers and the Owners of this Agreement and each Ancillary Agreement to which the Sellers or the Owners is a party at the Closing, and the consummation of the transactions contemplated hereby
and thereby do not (a) violate the Sellers’ respective limited liability company operating agreements as in effect either before or after the Pre-Closing Reorganization, (b) to the knowledge of Sellers or Owners, violate any
applicable Law or Order, (c) to the knowledge of Sellers or Owners, require any 

  
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filing with or Permit, consent or approval of, or the giving of any notice to, any Person (including filings, consents or approvals required under any Permits of either Seller or Partnership or
any licenses to which either Seller or Partnership is a party), (d) result in a violation or breach of, conflict with, constitute (with or without due notice or lapse of time or both) a default under, or give rise to any right of termination,
cancellation or acceleration of any right or obligation of either of the Sellers or, to the knowledge of Sellers or Owners, Partnership or to a material loss of any benefit to which either of the Sellers or, to the knowledge of Sellers or Owners,
Partnership is entitled under, any Contract, agreement or other instrument binding upon either of the Sellers or any license, franchise, Permit or other similar authorization held by the Sellers, or (e) result in the creation or imposition of
any Lien (other than Permitted Liens) on any asset of either of the Sellers, or, to the knowledge of Sellers or Owners, the General Partner or Partnership. 

Section 5.5 Capitalization At Closing, (i) all shares of the outstanding Capital Stock of the Sellers are owned of record and
beneficially by the Owners as described in the Recitals to this Agreement, and (ii) all such shares of Capital Stock of the Sellers are duly authorized, validly issued and outstanding, fully paid and nonassessable, and free of preemptive rights
and other Liens and were issued in compliance with applicable corporate and securities laws. 
 (b) Immediately after the consummation of
the Pre-Closing Reorganization and immediately prior to the Closing of the purchase and sale of the Purchased Interests, (i) the total outstanding Capital Stock of Partnership are owned of record and beneficially (A) 1% by the General
Partner, (B) 97% by the Sellers, and (C) 1% by each of Stewart and Weeks, and (ii) the total outstanding Capital Stock of the General Partner is owned of record and beneficially by the Sellers, in each case, free of preemptive rights
and other Liens and were issued in compliance with applicable limited partnership or limited liability company laws, as applicable. Immediately after the consummation of the Pre-Closing Reorganization, and prior to the Closing, the General Partner
is the sole general partner of Partnership and the General Partner, Sellers, Weeks and Stewart together own of record and beneficially 100% of the Capital Stock of Partnership, free and clear of all Liens and preemptive rights. Upon consummation of
the transactions contemplated by this Agreement, at the Effective Time (x) the Purchaser will acquire good, valid and indefeasible title to all of the Purchased Interests, free and clear of all Liens, and which interests will represent as of
the Effective Time (A) 100% of the issued and outstanding Capital Stock of the General Partner, which General Partner in turn owns 1% of the issued and outstanding Capital Stock of Partnership and (B) 89% of the issued and outstanding
Capital Stock of Partnership, and (y) ARC Equity Partners will hold 10% of the issued and outstanding Capital Stock of Partnership. 

(c) Except as set forth on Schedule 5.5, immediately before and after the consummation of the Pre-Closing Reorganization and as of the
Effective Time, (i) there were no options, warrants, purchase rights, subscription rights, conversion rights, exchange rights, convertible securities or other rights, agreement, arrangements or commitments of any character relating to the
shares of Capital Stock of the Sellers or obligating Sellers to issue, sell or otherwise cause to become outstanding any shares of its Capital Stock and (ii) there were no outstanding contractual obligations of the Sellers to repurchase, redeem
or otherwise acquire any shares of Capital Stock of the Sellers or interests in the Sellers or to provide funds to, or make any investment (in the form of a loan, capital contribution or otherwise) in, any other Person.

  
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Immediately before and after the Pre-Closing Reorganization and as of the Effective Time, (x) there are no voting trusts, agreements, proxies or other understandings in effect with respect
to the voting or transfer of any of the shares of Capital Stock of a Seller and (y) there are no outstanding or authorized stock or other equity appreciation, phantom stock participation or similar rights with respect to the Sellers. 

Section 5.6 Subsidiaries. Except as set forth in Schedule 5.6 and the Sellers’ interest in each of the General Partner
and Partnership, neither of the Sellers owns any Capital Stock or other equity or ownership or proprietary interest in any Person. 

Section 5.7 Financial Statements The Sellers heretofore furnished the Purchaser with a true and complete copy of the Reference
Financial Statements which are attached hereto as Schedule 5.7. The Reference Financial Statements have been derived from the books and records of the Sellers, are true and correct in all material respects, and fairly and accurately present
in all material respects the financial position of the Sellers at the respective dates thereof and the results of the operations of the Sellers for the periods indicated. 

(b) The books of account, minute books, stock record books and other records of the Sellers, all of which have been made available to the
Purchaser, are complete and correct in all material respects. 
 Section 5.8 No Undisclosed Liabilities There are no
liabilities, whether accrued, contingent, absolute, determined, determinable or otherwise, of either of the Sellers other than (a) liabilities fully provided for in the Reference Financial Statements, (b) liabilities specifically disclosed
in Schedule 5.8, and (c) other undisclosed liabilities incurred since the Balance Sheet Date in the Ordinary Course of Business that would have a Material Adverse Effect on the Purchaser. Except as disclosed on Schedule 5.8, none
of the Sellers or the Owners has any such liability to any former member of either of the Sellers with respect to the purchase of their membership interests of either of the Sellers or otherwise and the consummation of the transaction contemplated
by this Agreement will not otherwise give rise to any such liability. 
 Section 5.9 Tax Matters Except as disclosed in
Schedule 5.9: 
 (i) Neither of the Sellers currently has any liability for U.S. federal income Taxes other than for
the 2013 income tax year, the Taxes related to which will be paid when due by the Sellers; 
 (ii) all Tax Returns required
to be filed with any Governmental Authority on or before the Closing by or on behalf of the Sellers have been duly filed on a timely basis in accordance with all applicable Laws; 

(iii) at the time of their filings all such Tax Returns were complete and correct in all material respects; 

(iv) there are no known Liens for Taxes upon any assets of the Sellers, except Liens for Taxes not yet due for current Tax
periods ending after the date of this Agreement; 

  
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 (v) there are no outstanding deficiencies, assessments or written proposals for
the assessment of Taxes proposed, asserted or assessed against the Sellers, and, to the knowledge of the Sellers, no grounds exist for any such assessment of Taxes; 

(vi) no extension or waiver of the statute of limitations on the assessment of any Taxes has been granted to or applied for by
either of the Sellers; 
 (vii) none of the Tax Returns of the Sellers are the subject of an action, suit, proceeding, audit
or examination by a Governmental Authority; and 
 (viii) each of the Sellers has withheld and paid all Taxes required to
have been withheld and paid in connection with any amounts paid or owing to any employee, independent contractor, creditor, or other party. 

(b) In connection with the Pre-Closing Reorganization, no election was filed by Sellers to cause the General Partner or Partnership to be
treated as an association taxable as a corporation for U.S. federal income tax purposes for any period commencing with the consummation of the Pre-Closing Reorganization. 

Section 5.10 Absence of Certain Changes Except as disclosed in Schedule 5.10 or as expressly contemplated by this
Agreement, since the Balance Sheet Date to the time immediately prior to the consummation of the Pre-Closing Reorganization, each of the Sellers has conducted the Business in the Ordinary Course of Business and, to the knowledge of Sellers, there
has not been any event, occurrence, development or circumstances which has had or which would reasonably be expected to have a Material Adverse Effect. 

Section 5.11 Contracts Except as specifically disclosed in Schedule 5.11, neither of the Sellers is a party to or bound by
any lease, agreement, contract, commitment or other legally binding contractual right or obligation (whether written or oral) (collectively, “Contracts”). 

(b) Each Contract disclosed in or required to be disclosed in Schedule 5.11 is a valid and binding agreement of a Seller and, to the
knowledge of Sellers, each other party thereto, enforceable in accordance with its respective terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting enforcement of
creditors’ rights generally and by general principles of equity (whether applied in a proceeding at law or in equity). Neither a Seller nor, to the knowledge of Sellers, any other party to any such Contract is in default or breach (with or
without due notice or lapse of time or both) in any material respect under the terms of any such Contract. The Sellers have delivered or made available to the Purchaser true and complete originals or copies of all Contracts disclosed in or required
to be disclosed in Schedule 5.11. 
 Section 5.12 Insurance Coverage Schedule 5.12 contains a list of all of the
insurance policies and fidelity bonds covering the assets, Business, operations, employees, officers and directors of Sellers and a list of all claims pending as of the Balance Sheet Date and the Closing Date under any such policies or bonds,
including a description of the background and status of such claims. There is no claim by a Seller pending under any of such policies or bonds as to which coverage has been questioned, denied or disputed by the underwriters of such policies or
bonds. All premiums due and payable under all such policies and bonds have been paid and each 

  
 17 

 
of the Sellers has complied with the terms and conditions of all such policies and bonds. Such policies of insurance and bonds (or other policies and bonds providing substantially similar
insurance coverage) are in full force and effect and, to the knowledge of Sellers, are issued by a duly licensed insurance carrier authorized to conduct the business of insurance in the States of Missouri and Kansas. Neither of the Sellers has
knowledge of any threatened termination of, or material premium increase with respect to, any of such policies or bonds. Since the last renewal date of any insurance policy, to the knowledge of Sellers, there has not been any adverse change in the
relationship of either of the Sellers with their respective insurers or the premiums payable pursuant to such policies. 
 Section 5.13
Litigation Except as disclosed in Schedule 5.13, there is no action, suit, investigation, arbitration or administrative or other proceeding pending or, to the knowledge of Sellers, threatened, against or affecting a Seller before any
court or arbitrator or any Governmental Authority or which in any manner challenges or seeks to prevent, enjoin, alter or materially delay the transactions contemplated by this Agreement and any Ancillary Agreements to which either of the Sellers or
the Owners is a party at Closing. Neither of the Sellers has knowledge of any valid basis for any such action, suit, investigation, arbitration or proceeding against or affecting a Seller or the Business. To the knowledge of Sellers or Owners, there
are no outstanding judgments, orders, injunctions, decrees, stipulations or awards (whether rendered by a court, administrative agency, arbitral body or Governmental Authority) against either of the Sellers or the Owners. 

Section 5.14 Compliance with Laws; Permits Except as described in Schedule 5.14(a), each Seller has complied in all
material respects with all Laws with respect to the Business. To the knowledge of Sellers, no event has occurred or circumstance exists which, after notice or lapse of time or both, would constitute noncompliance in any material respect by a Seller
or give rise to any future liability of a Seller with respect to any Law heretofore or currently in effect. To the knowledge of Sellers, neither of the Sellers nor Owners has received notice from any Governmental Authority of any such event or
circumstance, or of any violation by a Seller of any Law. Neither the use, condition nor other aspect of any of the assets of the Business or other right, property or asset used in or associated with the Business, to the knowledge of Sellers, is or
has been in violation of any applicable Law. Except as set forth in Schedule 5.14(a), neither Seller has received written notice of any material violation of any Law, or any potential liability under any Law, relating to the operation of the
Business or to any of its assets, operations, processes, results or products, nor is either Seller aware of any such violation or potential liability. 

(b) Schedule 5.14(b) sets forth a list of each government or regulatory license, authorization, permit, franchise, consent and approval
(the “Permits”) issued and held by or on behalf of either of the Sellers to carry on the Business as currently conducted by a Seller. Except as disclosed in Schedule 5.14(b), each of the Sellers is the authorized legal holder
of the Permits, and each Permit is valid and in full force and effect. Neither of the Sellers is in default under, and, to the knowledge of Sellers, no condition exists that with notice or lapse of time or both would constitute a default or could
give rise to a right of termination, cancellation or acceleration under, any Permit held by a Seller. 

  
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 Section 5.15 Assets; Properties; Sufficiency of Assets Neither of the Sellers owns
any Real Property assets as of the Effective Time. Schedule 5.15 sets forth a list of all real property assets leased by a Seller (the “Real Property”). The Sellers collectively are, to their knowledge, tenants in good
standing thereunder (with a right of quiet enjoyment therein) and all rents due under such leases have been paid. Neither of the Sellers nor, to the knowledge of Sellers, any other party to any such lease is in default or breach in any material
respect (with or without due notice or lapse of time or both) under the terms of any such lease. Sellers are in peaceful and undisturbed possession of the space and/or estate under each lease of which it is a tenant. Neither of the Sellers has
received any written notice of any appropriation, condemnation or like proceeding, or of any violation of any applicable zoning Law or Order relating to or affecting the Real Property, and to the knowledge of Sellers, no such proceeding has been
threatened or commenced. To the knowledge of Sellers, each item of Real Property has adequate Utilities (as hereinafter defined) of a capacity and condition to serve adequately such Real Property (with due regard for the use to which such Real
Property is presently being put). For purposes of this Agreement, the term “Utilities” means all of the following: water distribution and service facilities; sanitary sewers and associated installations; storm sewers; storm
retention ponds and other drainage facilities; electrical distribution and service facilities; telephone, and similar communication facilities; heating, ventilating, cooling and air conditioning systems and facilities; natural gas distribution and
service facilities; fire protection facilities; garbage compaction and collection facilities; and all other utility lines, conduit, pipes, ducts, shafts, equipment, apparatus and facilities. 

(a) All tangible personal property of the Sellers that is materially used in the Business is in all material respects in good repair and
operating condition (subject to normal maintenance requirements and normal wear and tear excepted). 
 (b) The property and assets of
Partnership constitute all of the properties and assets used in the Business (and of the Sellers prior to the Pre-Closing Reorganization), other than the Seller Retained Assets, and such property and assets (together with the Employment Agreement),
are sufficient to conduct the Business as currently conducted by Partnership (and previously conducted by Sellers prior to the Pre-Closing Reorganization). 

Section 5.16 Intellectual Property Schedule 5.16 sets forth a list of all Intellectual Property Rights which are owned by
either of the Sellers or which either of the Sellers is a licensor or licensee for use in the Business. 
 (b) Except as disclosed in
Schedule 5.16: 
 (i) All of the Intellectual Property Rights used in the conduct of the Business as currently
conducted are set forth in Schedule 5.16; 
 (ii) To the knowledge of Sellers, the conduct of the Business by Sellers
as currently conducted does not infringe upon any Intellectual Property Right of any third party. There is no claim, suit, action or proceeding that is either pending or, to the knowledge of Sellers, threatened, that, in either case, involves a
claim of infringement by a Seller of any Intellectual Property Right of any third party, or challenging a Seller’s ownership, right to use, or the validity of any Intellectual Property Right listed or

  
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required to be listed in Schedule 5.16. Neither of the Sellers has any knowledge of any basis for any such claim of infringement and no knowledge of any continuing infringement by any
other Person of any of the Intellectual Property Rights listed or required to be listed in Schedule 5.16; 
 (iii) To
the knowledge of Sellers, no Intellectual Property Right listed or required to be listed in Schedule 5.16 is subject to any outstanding order, judgment, decree, stipulation or agreement restricting the use thereof by Seller or restricting the
licensing thereof by Sellers to any Person, other than with respect to standard and customary restrictions associated with commercially available third party software to which Sellers have a valid right to use in connection with the Business; and

 (iv) Neither of the Sellers has entered into any agreement to indemnify any other Person against any charge of
infringement of any Intellectual Property Right. 
 Section 5.17 Environmental Matters Except as disclosed in Schedule
5.17: 
 (i) Neither of the Sellers has, and to the knowledge of Sellers no other Person has, generated, recycled, used,
treated or stored on, transported to or from, or Released or disposed on, the Property any Constituents of Concern or, to the knowledge of the Sellers, on any property adjoining or adjacent to any Property, except in compliance in all material
respects with Environmental Laws; 
 (ii) There are no pending Environmental Claims against either of the Sellers or, to the
knowledge of Sellers, threatened Environmental Claims against a Seller or to the knowledge of Sellers, pending or threatened Environmental Claims against any Property; 

(iii) To the knowledge of Sellers, neither of the Sellers has any liability under any Environmental Law (including an
obligation to remediate any Environmental Condition whether caused by a Seller or any other Person). 
 Section 5.18 Benefit Plans
and Material Documents Schedule 5.18(a) sets forth a list of all Benefit Plans with respect to which either of the Sellers or any ERISA Affiliate has or has had prior to the date hereof any material obligation or material liability or
which are or were prior to the date hereof maintained, contributed to or sponsored by a Seller or any ERISA Affiliate for the benefit of any current or former employee, officer, director or manager of Seller or any ERISA Affiliate (collectively
“Seller Benefit Plans”). With respect to each Seller Benefit Plan, Sellers have delivered or made available to the Purchaser a true and complete copy of each such Seller Benefit Plan (including all amendments thereto) and a true and
complete copy of each material document (including all amendments thereto) prepared in connection with each such Seller Benefit Plan including (i) a copy of each trust or other funding arrangement, (ii) each summary plan description and
summary of material modifications, (iii) the most recently filed IRS Form 5500 for each such Seller Benefit Plan, if any, and (iv) the most recent determination letter referred to in Section 5.18(d). 

(b) Except as disclosed in Schedule 5.18(b), none of the Seller Benefit Plans is a plan that is or has ever been subject to Title IV of
ERISA, Section 302 of ERISA or Section 412 of 

  
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the Code. None of the Seller Benefit Plans is a “multiemployer plan” as defined in Section 3(37) of ERISA. Except as disclosed in Schedule 5.18(b), none of the Seller
Benefit Plans provides for the payment of separation, severance, termination or similar-type benefits to any person or provides for or, except to the extent required by Law, promises retiree medical or life insurance benefits to any current or
former employee, officer, director or manager of either of the Sellers or any ERISA Affiliate. 
 (c) No legal action, suit or claim is
pending or, to the knowledge of Sellers, threatened with respect to any Seller Benefit Plan (other than claims for benefits in the ordinary course). 

(d) Except as disclosed in Schedule 5.18(d), each Seller Benefit Plan or trust which is intended to be qualified or exempt from
taxation under Section 401(a), 401(k) or 501(a) of the Code has received a favorable determination letter from the IRS that it is so qualified or exempt under the currently applicable requirements of the Code, and, to the knowledge of
Sellers, nothing has occurred since the date of such determination letter that would adversely affect the qualified or exempt status of any Seller Benefit Plan or related trust. 

(e) All contributions, premiums or payments required to be made with respect to any Seller Benefit Plan have been made on or before their due
dates. 
 (f) There has been no amendment to, written interpretation of or announcement (whether or not written) by Seller relating to, or
change in employee participation or coverage under, any Seller Benefit Plan that would increase materially the expense of maintaining such Seller Benefit Plan above the level of the expense incurred in respect thereto for the most recent fiscal year
ended prior to the date hereof. 
 (g) Except as disclosed in Schedule 5.18(g), no employee or former employee of either of the
Sellers will become entitled to any bonus, retirement, severance, job security or similar benefit or enhanced such benefit (including acceleration of vesting or exercise of an incentive award) as a result of the transactions contemplated by this
Agreement. 
 Section 5.19 Affiliate Transactions (a) Except as disclosed in Schedule 5.19, there are no outstanding
payables, receivables, loans, advances and other similar accounts between either of the Sellers or the Owners on the one hand, and any of its Affiliates, on the other hand. 

(b) Except as disclosed in Schedule 5.19, no director, manager, officer or, to the knowledge of Sellers, any other employee of a
Seller, possesses, directly or indirectly, any ownership interest in, or is a director, officer or employee of, any Person which is a supplier, customer, lessor, lessee, licensor, or competitor of Seller. Ownership of 1% or less of any class of
securities of a Person whose securities are registered under the Exchange Act will not be deemed to be an ownership interest for purposes of this Section 5.19. 

Section 5.20 Referral Relationships To the knowledge of Sellers, Sellers generally have good commercial working relationships with
its physician referral source, suppliers and employees. Except as otherwise listed on Schedule 5.20, neither of the Owners nor any clinic director of either of the Sellers has an “Immediate Family Relationship” (as defined herein)
with any physician who has, or who based on the nature of their practice may, refer patients to a Seller for the provision of rehabilitation services. 

  
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 Section 5.21 Other Employment Matters 

(a) Neither of the Sellers are a party to any labor or collective bargaining agreement. 

(b) No labor organization or group of either of the Sellers’ employees has made a pending demand for recognition, there are no
representation proceedings or petitions seeking a representation proceeding presently pending or, to the knowledge of Sellers, threatened to be brought or filed with the National Labor Relations Board or other labor relations tribunal, and there is
no organizing activity involving a Seller pending or, to the knowledge of Sellers, threatened by any labor organization or group of employees. 

(c) There are no (i) strikes, work stoppages, slow-downs, lockouts or arbitrations or (ii) grievances or other labor disputes
pending or, to the knowledge of Sellers, threatened against or involving either of the Sellers. 
 (d) There are no complaints, charges or
claims against a Seller pending or, to the knowledge of the Sellers, threatened to be brought or filed with any Governmental Authority based on, arising out of, in connection with, or otherwise relating to the employment by a Seller, of any Person,
including any claim for workers’ compensation. 
 (e) Each of the Sellers is in compliance in all material respects with all Laws and
Orders in respect of employment and employment practices (including relating to employment or engagement of aliens or similar immigration matters) and the terms and conditions of employment and wages and hours, and has not, and is not, engaged in
any unfair labor practice. 
 (f) Schedule 5.21(f) contains a complete and accurate list of the following information for each
employee, officer or director of either of the Sellers, including each employee on leave of absence or layoff status: employer; name; job title; current compensation paid or payable and any change in compensation since the Balance Sheet Date;
vacation accrued but unused as of a recent date; and service credited as of a recent date for purposes of vesting and eligibility to participate under any pension, retirement, profit-sharing, thrift-savings, deferred compensation, stock bonus, stock
option, cash bonus, employee stock ownership (including investment credit or payroll stock ownership), severance pay, insurance, medical, welfare, or vacation plan or other Seller Benefit Plan; and all bonuses and any other amounts to be paid by a
Seller at or in connection with the Closing. 
 (g) Except as set forth in Schedule 5.21(g), no officer or director of either of the
Sellers and, to the knowledge of Sellers, no other employee of a Seller, is a party to, or is otherwise bound by, any confidentiality, non-competition, proprietary rights agreement or similar agreement that would affect (i) the performance of
his or her duties as an employee, officer or director or (ii) the ability of the Purchaser to conduct the Business after the Effective Time. 

Section 5.22 Credentialing Schedule 5.22 sets forth for Seller and its employees all of their respective provider numbers
and a list of the licensed providers, outpatient clinics, hospitals or contractors that Sellers have authorized to bill for services utilizing such provider numbers and the type of designation of such facility or service billed. 

  
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 (b) Neither of the Sellers nor Owners has received notice of any pending or threatened
investigation or inquiry (other than routine surveys and audits that have not resulted in an investigation or inquiry) from any Governmental Authority, fiscal intermediary, carrier or similar entity that enforces or administers the statutory or
regulatory provisions in respect of any governmental health care program. There are no outstanding judgments orders, writs, injunctions or decrees of any Governmental Authority in respect of any governmental health care program against either of the
Sellers or Owners which would result in liability to a Seller in excess of $10,000 (whether or not covered by insurance). 
 (c) To the
knowledge of the Sellers, there is no basis for any material claims against a Seller or an Owner by any third-party payors other than routine audit/claim adjustments. Neither of the Sellers nor Owners has received any written notice that a payor has
any claims against it which could result in offsets against future reimbursement other than routine audit/claim adjustments. 

Section 5.23 Exclusion Neither of the Owners nor, to the knowledge of Sellers, any other Person with whom a Seller employs or
otherwise contracts in any capacity whatsoever, has been excluded from participation in a federal health care program (as defined in 42 U.S.C. Section 1320a-7b(f)) where such action could reasonably serve as a basis for the Seller’s
suspension or exclusion from the Medicare or any state Medicaid program. 
 Section 5.24 Federal Health Care Programs Neither of
Sellers, their respective Affiliates (including the Owners) or any Person who has a direct or indirect ownership interest (as those terms are defined in 42 C.F.R. Section 1001.1001(a)(2)) in a Seller of 5% or more, or who has an ownership or
control interest (as defined in Section 1124(a)(3) of the Social Security Act or any regulations promulgated thereunder) in a Seller, or who is an officer, director, manager, agent or managing employee (as defined in 42 C.F.R.
Section 1001.1001(a)(i)) of Seller: (i) except as set forth in Schedule 5.24, has had a civil monetary penalty assessed against it under Section 1128A of the Social Security Act or any regulations promulgated thereunder;
(ii) has been excluded from participation under any federal health care program; or (iii) has been convicted (as that term is defined in 42 C.F.R. Section 1001.2) of any of the categories of offenses as described in the Social
Security Act Section 1128(a) and (b)(1), (2), (3) or any regulations promulgated thereunder. 
 (b) Except as set forth on
Schedule 5.24, neither of the Sellers nor Owners has received notice that a third party private payor intends to terminate or fail to renew any contractual arrangement with a Seller or an Owner (or adversely amend or modify any right of
reimbursement thereunder) from which a Seller or an Owner derived more than $25,000 in revenue from the Business during 2013. 

Section 5.25 Billing; Gratuitous Payments Except as set forth in Schedule 5.25 and except for routine audit/claim
adjustments, all billing by, or on behalf of, either of the Sellers or the Owners to third-party payors, including to worker’s compensation and private insurance companies, has been true and complete in all material respects. Neither of the
Sellers nor an 

  
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Owner has received any notice from any third-party payor that indicates that the Purchaser could not continue to bill in substantially the same manner and structure as such Seller or Owner is
billing on the date hereof with respect to the Business. 
 Section 5.26 Reimbursement Matters Except as disclosed on
Schedule 5.26 and except for routine audit/claim adjustments, for the previous three years, neither of the Sellers nor an Owner has received any written notice of denial of payment or overpayment of a material nature from a third party
reimbursement source (inclusive of managed care organizations) with respect to items or services provided by such Seller or Owner, other than those which have been finally resolved in any settlement for an amount less than $10,000. Neither of the
Sellers nor an Owner is subject to (i) a “focused review” or “probe review” of claims, payments or practices by Medicare, or any applicable carrier, fiscal intermediary or delegated agent of CMS, (ii) a “Corporate
Integrity Agreement” or similar government – mandated compliance program, (iii) decertification action or assertion or (iv) written demand for repayment or overpayment or offset by Medicare or Medicaid. 

Section 5.27 Finders’ Fees Except as set forth on Schedule 5.27, there is no investment banker, broker, finder or
other intermediary which has been retained by or is authorized to act on behalf of either of the Sellers or the Owners who is, or who to the knowledge of Sellers may claim to be, entitled to any fee or other commission from either the Sellers or the
Owners in connection with the transactions contemplated by this Agreement or any of the Ancillary Agreements. 
 Section 5.28
Accounts Receivable All of the Accounts Receivable reflected on Schedule 5.28 (net of any discount to adjust such balances to allowable reimbursement amounts and net of applicable reserves for doubtful accounts and client refunds as
set forth on such Schedule 5.28) are valid and enforceable claims, and services sold and delivered which gave rise to such Accounts Receivable were sold and delivered in the Ordinary Course of Business. Except as set forth in Schedule
5.28, such Accounts Receivable are subject to no known defenses, offsets or recovery in whole or in part by the Persons whose purchase gave rise to such Accounts Receivable or by any third parties. 

ARTICLE VI 

REPRESENTATIONS AND WARRANTIES OF PURCHASER 

The Purchaser represents and warrants to the Sellers and Owners as follows: 

Section 6.1 Existence and Power The Purchaser is a limited partnership duly formed, validly existing and in good standing under
the laws of the State of Texas. The Purchaser has the limited partnership power required to carry on its business as now conducted. The Purchaser is duly qualified to conduct business as a foreign limited partnership and is in good standing in each
jurisdiction where such qualification is necessary. 
 Section 6.2 Authorization; Enforceability The execution, delivery and
performance by the Purchaser of this Agreement and each of the Ancillary Agreements to which it is a party at the Closing are within the Purchaser’s limited partnership power and have been duly authorized by the partners of the Purchaser and no
other limited partnership action on the part of the 

  
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Purchaser or any of its partners is necessary to authorize this Agreement or any of the Ancillary Agreements to which the Purchaser is a party at the Closing. Each person executing and delivering
this Agreement and all documents to be executed and delivered by Purchaser at Closing has or will have due and proper authority to execute and deliver the same. This Agreement has been, and each of the Ancillary Agreements to which the Purchaser is
a party at the Closing has been, duly executed and delivered by the Purchaser. Assuming the due execution and delivery by the Seller and Owner of this Agreement and each of the Ancillary Agreements to which the Purchaser is a party at the Closing,
this Agreement constitutes, and each Ancillary Agreement to which the Purchaser is a party at the Closing constitutes at the Effective Time, valid and binding agreements of the Purchaser, enforceable against the Purchaser in accordance with their
terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting enforcement of creditors’ rights generally and by general principles of equity (whether applied in a
proceeding at law or in equity). 
 Section 6.3 Governmental Authorization Except as disclosed in Schedule 6.3, the
execution, delivery and performance by the Purchaser of this Agreement and each Ancillary Agreement to which the Purchaser is a party at the Closing require no consent, approval, order, authorization or action by or in respect of, or filing with,
any Governmental Authority. 
 Section 6.4 Non-Contravention Except as set forth on Schedule 6.4, the execution, delivery
and performance by the Purchaser of this Agreement and each Ancillary Agreement to which the Purchaser is a party at the Closing, and the consummation of the transactions contemplated hereby and thereby, do not (a) violate the certificate of
limited partnership or agreement of limited partnership or other similar constituent documents of the Purchaser, (b) violate any applicable Law or Order, (c) require any filing with or Permit, consent or approval of, or the giving of any
notice to, any Person (including filings, consents or approvals required under any Permits of the Purchaser or any licenses to which the Purchaser is a party), or (d) result in a violation of or breach of, conflict with, constitute (with or
without due notice or lapse of time or both) a default under, or give rise to any right of termination, cancellation or acceleration of any right or obligation of the Purchaser or to a loss of any benefit to which the Purchaser is entitled under,
any Contract, agreement or other instrument binding upon the Purchaser or any license, franchise, Permit or other similar authorization held by the Purchaser. 

Section 6.5 Pending Claims, Litigation, or Bankruptcy Purchaser is not the subject of any existing, pending, threatened or
contemplated (A) Bankruptcy, solvency or other debtor’s relief proceeding, or (B) litigation or other judicial or administrative proceeding, which challenges or could adversely affect Purchaser’s right or ability to enter into
this Agreement or to consummate the transactions herein contemplated. 

  
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 ARTICLE VII 

ADDITIONAL AGREEMENTS 

Section 7.1 Employees and Benefits The Purchaser agrees that, except for the Owners, individuals who are employed by the Seller
immediately prior to the Closing Date and set forth on Schedule 5.21(f) (“Affected Employees”) shall become employees of Partnership as of the date to be determined by Purchaser following the Closing Date, provided that such date is
on or before the termination date under the Management Services Agreement; provided further, that nothing contained herein shall confer upon any Affected Employee the right to continued employment by Partnership for any period of time which is not
otherwise required by law or contract. 
 (b) Seller shall retain all liabilities and responsibilities to all Seller Benefit Plans (the
“Seller Retained Employee Benefit Plans”) arising prior to the Closing Date. Purchaser shall indemnify Seller for the costs, arising on or after the Closing Date, of the continued participation by Affected Employees and Owner in all
Seller Retained Employee Benefit Plans, including accrued and unpaid sick pay and vacation set forth on Schedule 5.21(f) (for which Seller shall provide the cash to cover as part of the Minimum Cash Balance). 

(c) Unless and until the date the Purchaser determines in its sole and absolute discretion to move Affected Employees to the Parent’s
group employee health and welfare benefit plans or other Benefit Plans, the Purchaser shall cause Partnership to maintain for the benefit of the Affected Employees the Seller Benefit Plans. 

(d) Sellers shall pay, from its own funds, the payroll due to Affected Employees for the period ended December 13, 2013 (which is due to
be paid on December 20, 2013). 
 Section 7.2 Seller Retained Assets; Partnership Assumed Liabilities In connection with
the consummation of the Pre-Closing Reorganization, Sellers shall transfer and convey all of its assets to the General Partner and Partnership other than (i) the cash, if any, then owned and held by the Seller in excess of the Minimum Cash
Balance; (ii) all rights of Seller under this Agreement, the Note, the Guaranty or any of the Ancillary Agreements to which it is a party; (iii) corporate minute books and stock records of Sellers and copies of books and records required
to be retained by Sellers in accordance with applicable Law; (iv) tax returns and records of Sellers and any rights to refunds and records in respect of Taxes paid or otherwise owed by Sellers, and (v) all rights, claims, proceeds and
causes of action under policies of insurance (such assets listed in items (i) through (v), collectively the “Seller Retained Assets”). 

(b) Partnership will assume and accept and thereafter shall pay, perform or discharge: (i) subject to the provisions of Section 7.4,
the obligations and liabilities of the Sellers under each of the Contracts set forth on Schedule 5.11 to the extent they arise on or after the Effective Time (the “Assumed Contracts”), except for any Capitalized Lease Obligations,
if any; (ii) the accrued and unpaid sick leave and vacation of the employees of the Sellers set forth on Schedule 5.21(f); and (iii) accounts payable and other liabilities arising in the ordinary course of business since the Balance
Sheet Date and consistent with historical levels, none of which in any case relates to any breach of contract, breach of warranty, tort, infringement or violation of Law (such liabilities and obligations listed in items (i) through (iv),
collectively the “Partnership Assumed Liabilities”). 

  
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Sellers shall be responsible for the payment, performance or discharge of all liabilities and obligations of Sellers other than the Partnership Assumed Liabilities, including any Transaction
Expenses not satisfied pursuant to Section 3.1(a) or Section 3.1(b) (the “Retained Liabilities”). 

Section 7.3 Misdirected Payments  

Following the Effective Time, (i) each of the Sellers and Owners will promptly, and in any event, not later than ten Business Days
following receipt, forward to Partnership any payments received by either of the Sellers or Owners with respect to any of the Accounts Receivables or with respect to any other assets of Partnership, and any checks, drafts or other instruments
payable to either of the Sellers or Owners will, when so delivered, bear all endorsements required to effectuate the transfer of the same to Partnership, (ii) Partnership will promptly forward to Sellers any payments received by Partnership
with respect to any Seller Retained Assets, and any checks, drafts or other instruments payable to Sellers shall, when so delivered, bear all endorsements required to effect the transfer of the same to Sellers. 

Section 7.4 Nonassignable Contracts, Leases and Permits. In the case of any assets transferred by the Sellers and the General
Partner to Partnership in connection with the Partnership Formation which constitute Contracts, leases or Permits that are not by their terms assignable or that require the consent of a third party in connection with such transfer by the Sellers or
the General Partner to Partnership, such Contracts, leases or Permits will be deemed not to have been transferred as of the Effective Time unless the consent of such third party has been obtained prior to the Effective Time. If the consent of any
third party is not obtained prior to the Effective Time and the Closing occurs notwithstanding the failure to obtain such consent, the Sellers will use commercially reasonable efforts to assist Partnership and the General Partner in such manner as
may reasonably be requested by Partnership or the General Partner for the purpose of obtaining such consent promptly. During such period in which the applicable Contract, lease or Permit is not capable of being assigned to Partnership due to the
failure to obtain any required consent, the Sellers will make such arrangements as may be necessary to enable Purchaser to receive all the economic benefits under such Contract, lease or Permit accruing on and after the Effective Time (including, to
the extent permissible, through a sub-contracting, sub-licensing, sub-participation or sub-leasing arrangement, or an arrangement under which the Sellers would enforce such Contract, lease or Permit for the benefit of Partnership, with Partnership,
to the extent permissible, assuming a Seller’s executory obligations and any and all rights of the Seller against the other party thereto). If the approval of the other party to such Contract, lease or Permit is obtained, such approval will, as
between the Sellers and Partnership, constitute a confirmation (automatically and without further action of the parties) that such Contract, lease or Permit is assigned to Partnership as of the Effective Time, and (automatically and without further
action of the parties) that the liabilities with respect to such Contract, lease or Permit are, subject to the terms of the Seller Contribution Agreement dated the date hereof to be executed by the Sellers and Partnership in connection with the
Partnership Formation, assumed as of the Effective Time. After the Effective Time, Partnership and the General Partner shall indemnify Sellers for any liabilities arising after the Effective Time under such non-assignable Contracts, leases or
Permits, but only to the extent Partnership received the economic benefits under such Contracts, leases or Permits. 

  
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 Section 7.5 Further Assurances From time to time, as and when requested by any party
hereto, the other parties will execute and deliver, or cause to be executed and delivered, all such documents and instruments and will take, or cause to be taken, all such further actions, as the requesting party may reasonably deem necessary or
desirable to consummate the transactions contemplated by this Agreement or to vest Partnership with full title to all properties, assets, rights, approvals, immunities and franchises of Seller as of the time immediately prior to the Effective Time
(other than the Seller Retained Assets). 
 Section 7.6 Immigration Effective on an after the Closing Date, with respect to
employees of a Seller that are offered and accept employment with Partnership in connection with Closing, (a) such Seller shall cease to serve and Purchaser shall commence to serve as the sponsoring and petitioning employer for petitions,
applications and other filings with the U.S. Citizenship and Immigration Services, the U.S. Department of Labor, or the U.S. Department of State (including any U.S. embassy or consular post) (collectively, the “Immigration
Documents”) requesting employment based nonimmigrant visa benefits on behalf of or with respect to such employees, and (b) Purchaser shall assume all immigration related interests and obligations that have arisen or will arise on or
after the Closing Date for such employees in connection with the Immigration Documents. By Sellers and Purchaser closing this transaction and Partnership’s hiring of certain of the employees of Sellers, Sellers and Purchaser intend for
Partnership to be deemed such Sellers’ successor in interest for purposes of U.S. immigration law with respect to such employees. 

Section 7.7 Real Property Leases Attached hereto as Exhibit N copies of the lease agreements and/or assignments with
respect to the Clinic locations. 
 Section 7.8 Insurance Sellers shall purchase (and at Closing provide to Purchaser a
certificate of coverage to evidence) “tail” or extended reporting professional liability insurance coverage, having limits reasonably acceptable to Purchaser, insuring Sellers against professional liability claims noticed or filed during
the two (2) year period after the Closing Date that arise from acts or omissions alleged to have occurred on or prior to the Closing Date. Purchaser shall be named as an additional insured on the foregoing policy. 

Section 7.9 Minimum Cash Balance. At and immediately following Closing, the Sellers’ bank account used in the Business which
will become an asset of (and be controlled by) the Partnership, shall have a cash balance of at least $1,117,500 (the “Minimum Cash Balance”). 

Section 7.10 Bardavon. The parties acknowledge and agree that (a) Bardavon Health Innovations, LLC
(“Bardavon”) and the Partnership shall enter into that certain sublease, attached hereto to Schedule 7.10, pursuant to which Bardovan shall lease the use of certain office space; (b) the individuals identified in Scheule
5.21(f) as “Bardavon Health Innovations, LLC employees as of the Closing” are and shall be employees of Bardovan (and not the Partnership) and the Partnership shall have no financial obligation to such Bardovan employees whatsoever; and
(c) Bardovan and the Partnership shall enter into that certain “Bardovan Provider License Agreement” attached hereto to Schedule 7.10. 

  
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 Section 7.11 General. Each party hereto shall use its or his commercially reasonable
efforts to take all actions and to do all things necessary, proper or advisable in order to consummate and make effective the transactions contemplated by this Agreement. 

ARTICLE VIII 
 CERTAIN
TAX MATTERS 
 Section 8.1 Transfer Taxes Any sales, use, transfer, vehicle transfer, stamp, conveyance, value added or
other similar Taxes that may be imposed by any Governmental Authority, in connection with this transaction, will be borne by Sellers. 

Section 8.2 Partnership Status The parties hereto intend that Partnership will constitute a partnership for U.S. federal income
tax purposes both (i) following the consummation of the Pre-Closing Reorganization and before the Closing and (ii) immediately following the Closing. No party hereto shall take any action to cause Partnership not to be treated as a
partnership for U.S. federal income tax purposes as of any period after the Closing. 
 Section 8.3 Section 754 Election
The parties hereto agree that Partnership will file with the IRS, and the parties hereto hereby request and consent to the filing of, an election under Section 754 of the Code. 

Section 8.4 Pre-Closing Tax Periods Sellers will cause to be included in their respective income Tax Returns for all
Pre-Closing Tax Periods, all revenue and expense relating to the operations of the Business during such periods or portions thereof. Owners will prepare and timely file or cause to be prepared and timely filed all such Tax Returns with the
appropriate Governmental Authority. The Sellers and Owners hereby agree that they shall pay or cause to be paid all payments of Tax shown to be due and owing on such Tax Returns. 

Section 8.5 Tax Cooperation Sellers, Owners and Purchaser will (i) each provide the other with such assistance as may
reasonably be requested by any of them in connection with the preparation of any Tax Return, audit or other examination by any Authority or judicial or administrative proceedings relating to liability for Taxes, (ii) each retain for at least
eight years and provide the other with any records or other information that may be relevant to such Tax Return, audit or examination, proceeding or determination, and (iii) each provide the other with any final determination of any such audit
or examination, proceeding or determination that affects any amount required to be shown on any Tax Return of the other for any period. In addition, Sellers will retain until the applicable statutes of limitations (including any extensions) have
expired copies of all Tax Returns, supporting work schedules, and other records or information that may be relevant to such Tax Returns for all Pre-Closing Tax Periods and will not destroy or otherwise dispose of any such records without first
providing Purchaser with a reasonable opportunity to review and copy the same. 
 ARTICLE IX 

SURVIVAL; INDEMNIFICATION 

Section 9.1 Survival The representations and warranties of the parties contained in this Agreement or in any certificate or other
writing delivered pursuant hereto or in connection herewith shall survive the Closing for two (2) years; provided, however, that the Selected 

  
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Representations and Warranties shall survive the Closing for four (4) years. Notwithstanding the immediately preceding sentence, any representation or warranty in respect of which indemnity
may be sought under this Agreement will survive the time at which it would otherwise terminate pursuant to the immediately preceding sentence if written notice of the inaccuracy or breach thereof giving rise to such right of indemnity shall have
been given to the party against whom such indemnity may be sought prior to such time; provided, however, that the applicable representation or warranty will survive only with respect to the particular inaccuracy or breach specified in
such written notice. All covenants and agreements of the parties contained in this Agreement (including the obligations of indemnification contemplated by this Article IX) will survive the Closing indefinitely. 

Section 9.2 Indemnification (a) Each of the Sellers and each of the Owners (in their respective individual capacity) hereby,
jointly and severally, indemnify, defend and hold harmless the Purchaser and its partners, officers, directors, employees, affiliates, stockholders representatives and agents, and the successors or assigns to the foregoing (and their respective
officers, directors, employees, affiliates, stockholders and agents) against any and all liabilities, damages and losses, and all reasonable costs or expenses, including reasonable attorneys’ fees and expenses incurred in respect of Third-Party
Claims or claims between the parties hereto (“Damages”), if and to the extent such Damages are incurred or suffered as a result of or arising out of (i) the failure of any representation or warranty made by the Sellers and/or
Owners in Article V to be true and correct as of the Closing Date, (ii) the breach of any covenant or agreement made or to be performed by either of the Sellers or Owners pursuant to this Agreement, (iii) the failure of either of the
Sellers to pay, satisfy or otherwise discharge any Retained Liability, including any liability for Taxes of a Seller, (iv) any Damages arising from the operation of the Business prior to the Closing Date, including, without limitation, acts or
omissions relating to patient care services and any overpayment, recoupment, fine or penalty with respect to any payor (federal, commercial or otherwise) relating to or arising from services performed by a Seller prior to the Closing Date, or
(v) any Damages arising from the Seller Retained Employee Benefit Plans that relate to periods prior to the Closing (except with respect to the dollar value of such accrued and unpaid sick pay and vacation, which is being sassumed by the
Partnership), provided, however, that the Sellers and Owners will not be liable under this Section 9.2(a) (other than 9.2(a)(iii)) unless, and then only to the extent, the aggregate amount of Damages exceeds $100,000, in which
case the Sellers and Owners shall only be responsible for Damages in excess of such amount, and provided further, however, that in no event shall Sellers and Owners, in the aggregate, be obligated for any Damages in excess of
$10,000,000. 
 (b) The Purchaser will indemnify, defend and hold harmless the Sellers, and their respective officers, directors, employees,
affiliates, successors, assigns, representatives and agents, against Damages incurred or suffered as a result of or arising out of (i) the failure of any representation or warranty made by the Purchaser in Article VI to be true and correct as
of the Closing Date (ii) the breach of any covenant or agreement made or to be performed by the Purchaser pursuant to this Agreement, or (iii) the failure of Partnership to pay, satisfy or otherwise discharge any Partnership Assumed
Liabilities, including Taxes of Purchaser or Partnership, or (iv) any Damages arising from the operation of the Business after the Closing Date, including, without limitation, acts or omissions relating to patient care services and any
overpayment, recoupment, fine or penalty with respect to any payor (federal, commercial or otherwise) relating to or arising from services performed by Partnership after the Closing Date that are not directly related to the wrongful act or
negligence of Condon. 

  
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 Section 9.3 Procedures If any Person who or which is entitled to seek indemnification
under Section 9.2 (an “Indemnified Party”) receives notice of the assertion or commencement of any Third-Party Claim against such Indemnified Party with respect to which the Person against whom or which such indemnification is
being sought (an “Indemnifying Party”) is obligated to provide indemnification under this Agreement, the Indemnified Party will give such Indemnifying Party reasonably prompt written notice thereof, but in any event not later than
20 days after receipt of such written notice of such Third-Party Claim. Such notice by the Indemnified Party will describe the Third-Party Claim in reasonable detail, will include copies of all available material written evidence thereof and will
indicate the estimated amount, if reasonably estimable, of the Damages that have been or may be sustained by the Indemnified Party. The Indemnifying Party will have the right to participate in, or, by giving written notice to the Indemnified Party,
to assume, the defense of any Third-Party Claim at such Indemnifying Party’s own expense and by such Indemnifying Party’s own counsel (which will be reasonably satisfactory to the Indemnified Party), and the Indemnified Party will
cooperate in good faith in such defense. 
 (b) If, within 20 days after giving notice of a Third-Party Claim to an Indemnifying Party
pursuant to Section 9.3(a), an Indemnified Party receives written notice from the Indemnifying Party that the Indemnifying Party has elected to assume the defense of such Third-Party Claim as provided in the last sentence of
Section 9.3(a), the Indemnifying Party will not be liable for any legal expenses subsequently incurred by the Indemnified Party in connection with the defense thereof; provided, however, that if the Indemnifying Party fails to
take reasonable steps necessary to defend diligently such Third-Party Claim within twenty (20) days after receiving written notice from the Indemnified Party or if the Indemnified Party reasonably believes the Indemnifying Party has failed to
take such steps or if the Indemnifying Party has not undertaken fully to indemnify the Indemnified Party in respect of all Damages relating to the matter in accordance with the terms of this Agreement, the Indemnified Party may assume its own
defense, and the Indemnifying Party will be liable for all reasonable costs and expenses paid or incurred in connection therewith; provided, however, that the Indemnifying Party shall not be liable for the costs and expenses of more
than one counsel for all Indemnified Parties in any one jurisdiction. If the Indemnifying Party disputes the right to indemnity, the Indemnified Party may also defend such claim or demand or settle or pay any such claim or demand, but any right to
recover from the Indemnifying Party shall depend on the resolution of the dispute as to the right of indemnity. Without the prior written consent of the Indemnified Party, the Indemnifying Party will not enter into any settlement of any Third-Party
Claim which would lead to liability or create any financial or other obligation on the part of the Indemnified Party for which the Indemnified Party is not entitled to indemnification hereunder, or which provides for injunctive or other non-monetary
relief applicable to the Indemnified Party, or does not include an unconditional release of all Indemnified Parties. If a firm offer is made to settle a Third-Party Claim without leading to liability or the creation of a financial or other
obligation on the part of the Indemnified Party for which the Indemnified Party is not entitled to indemnification hereunder and the Indemnifying Party desires to accept and agree to such offer, the Indemnifying Party will give written notice to the
Indemnified Party to that effect. If the Indemnified Party fails to consent to such firm offer within ten days after its receipt of such notice, the Indemnified 

  
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Party may continue to contest or defend such Third-Party Claim and, in such event, the maximum liability of the Indemnifying Party as to such Third-Party Claim will not exceed the amount of such
settlement offer. The Indemnified Party will provide the Indemnifying Party with reasonable access during normal business hours to books, records and employees of the Indemnified Party necessary in connection with the Indemnifying Party’s
defense of any Third-Party Claim which is the subject of a claim for indemnification by an Indemnified Party hereunder. 
 (c) Any claim by
an Indemnified Party on account of Damages which does not result from a Third-Party Claim (a “Direct Claim”) will be asserted by giving the Indemnifying Party reasonably prompt written notice thereof. Such notice by the Indemnified
Party will describe the Direct Claim in reasonable detail, will include copies of all available material written evidence thereof and will indicate the estimated amount, if reasonably practicable, of Damages that has been or may be sustained by the
Indemnified Party. The Indemnifying Party will have a period of thirty (30) calendar days within which to respond in writing to such Direct Claim. If the Indemnifying Party does not so respond within such thirty (30) day period, the
Indemnifying Party will be deemed to have rejected such claim, in which event the Indemnified Party will be free to pursue such remedies as may be available to the Indemnified Party on the terms and subject to the provisions of this Agreement. 

(d) A failure to give timely notice or to include any specified information in any notice as provided in Section 9.3(a), 9.3(b) or 9.3(c)
will not affect the rights or obligations of any party hereunder, except and only to the extent that, as a result of such failure, any party which was entitled to receive such notice was deprived of its right to recover any payment under its
applicable insurance coverage or was otherwise materially prejudiced as a result of such failure. 
 Section 9.4 Offset If the
Purchaser incurs any Damages for which it is entitled to indemnification by the Sellers or Owners under this Article IX, then pursuant to (i) a written agreement for offset among the Purchaser and the Sellers or (ii) either (x) a
decision by an arbitrator in accordance with Section 10.12 or (y) a judgment entered by a court of competent jurisdiction, the Purchaser shall have the right to offset any payments of principal and/or interest due or to be due under the
Note by the amount of the Damages. Such right of offset shall not be considered an exclusive remedy, it being agreed that the Purchaser shall also be entitled to exercise any other remedies available to it at law or equity, including the
indemnification rights set forth in this Article IX. 
 In addition, if a dispute arises or exists concerning a claim as to whether the
Sellers or Owners are obligated to indemnify the Purchaser pursuant to this Article IX, the Purchaser shall make a good faith estimate of the amount of such indemnification liability (the “Estimated Dispute Amount”) and shall have
the right (but not the obligation), if any payment(s) under the Note become due prior to the final resolution of such dispute consistent with the immediately preceding paragraph, to place such amounts in an escrow account pursuant to terms
reasonably satisfactory to Owners and the Purchaser until such time as the dispute is finally resolved in a manner consistent with the immediately preceding paragraph. 

  
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 Section 9.5 Payment of Indemnification Payments All indemnifiable Damages payable by
the Sellers or Owners under this Article IX shall, subject to Section 9.4, be paid in cash in immediately available funds. All indemnifiable Damages payable by the Sellers or Owners under this Article IX shall be net of amounts actually
recovered by the Purchaser under any insurance policy. If, following the receipt by an Indemnified Party under Section 9.2(a) of any indemnity payment hereunder, such Indemnified Party shall receive any insurance recovery or indemnity payment
from a third party in respect of the same underlying claim, such Indemnified Party shall reimburse the Sellers or the Owners, as applicable, to the extent of such insurance recovery or third party indemnity payment. All indemnifiable Damages payable
by the Purchaser under this Article IX shall be paid in cash in immediately available funds. Notwithstanding anything to the contrary contained herein, the Purchaser shall set off indemnifiable Damages to which it is entitled hereunder against any
payments of principal and/or interest due or to be due under the Note prior to the exercise by the Purchaser of additional rights under this Article IX. 

ARTICLE X 
 MISCELLANEOUS

 Section 10.1 Notices All notices and other communications required or permitted hereunder will be in writing and, unless
otherwise provided in this Agreement, will be deemed to have been duly given when delivered in person or when dispatched by electronic facsimile transfer (receipt confirmed) or one business day after having been dispatched by a nationally recognized
overnight courier service to the appropriate party at the address specified below: 
 (a) If to the Purchaser to: 

U.S. Physical Therapy, Ltd. 

1300 West Sam Houston Parkway South 

Suite 300 
 Houston, Texas 77042

 Facsimile No.: (713) 266-0558 

Attention: General Counsel 
 (b)
If to the Seller or Owner to: 
 Athletic & Rehabilitation Center, LLC 

O’Rourke Management Services, Inc. 

c/o Kevin O’Rourke 
 7130
N. National Drive 
 Parkville, MO 64152 

And 
 Athletic &
Rehabilitation Center, LLC 
 Condon Management Services, Inc. 

c/o Matthew Condon 
 6222
Glenfield 
 Fairway, KS 66205 

  
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 or to such other address or addresses as any such party may from time to time designate as to itself by like
notice. 
 Section 10.2 Amendments and Waivers Any provision of this Agreement may be amended or waived if, but only if, such
amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. 

(b) No failure or delay by any party in exercising any right, power or privilege hereunder will operate as a waiver thereof nor will any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided will be cumulative and not exclusive of any rights or remedies provided
by Law. 
 Section 10.3 Expenses Subject to Section 3.1, whether or not the transactions contemplated by this Agreement are
consummated, except as otherwise expressly provided for herein, the parties will pay or cause to be paid all of their own fees and expenses incident to this Agreement and in preparing to consummate and in consummating the transactions contemplated
hereby, including the fees and expenses of any broker, finder, financial advisor, investment banker, legal advisor or similar person engaged by such party. 

Section 10.4 Successors and Assigns The provisions of this Agreement will be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns. No party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement (including any transfer by way of merger or operation of law) without the consent of each
other party hereto; provided, however, that Purchaser may assign all or any portion of its rights and/or obligations hereunder to an Affiliate of Purchaser or the Parent; provided, further, that no such assignment shall relieve
Purchaser from its obligations hereunder. Any assignment in violation of the preceding sentence will be void ab initio. 
 Section 10.5
No Third-Party Beneficiaries This Agreement is for the sole benefit of the parties hereto and their permitted successors and assigns, and nothing herein expressed or implied will give or be construed to give to any Person, other than the
parties hereto and such permitted successors and assigns, any legal or equitable rights hereunder. 
 Section 10.6 Governing Law
This Agreement will be governed by, and construed in accordance with, the laws of the State of Texas, regardless of the Laws that might otherwise govern under principles of conflict of laws thereof. 

Section 10.7 Jurisdiction Except as otherwise provided in Section 10.12 or to otherwise enforce an arbitrator’s award or
decision pursuant to Section 10.12, any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby may be brought in the

  
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courts of the State of Texas, in Harris County, and the federal courts in the Southern District of Texas. Each of the parties (i) consents to the exclusive jurisdiction of such courts (and
of the appropriate appellate courts therefrom) in any such suit, action or proceeding, (ii) irrevocably waives, to the fullest extent permitted by Law, any objection which it may now or hereafter have to the laying of the venue of any such
suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient forum, (iii) will not attempt to deny or defeat such personal jurisdiction by motion
or other request for leave from any such court, and (iv) will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any other court. Process in any such suit, action or proceeding may be
served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 10.1 will be deemed
effective service of process on such party. 
 Section 10.8 Counterparts This Agreement may be executed in one or more
counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. 

Section 10.9 Table of Contents; Headings The table of contents and headings in this Agreement are for convenience of reference
only and will not control or affect the meaning or construction of any provisions hereof. 
 Section 10.10 Entire Agreement This
Agreement (including the Schedules and Exhibits hereto) and the Ancillary Agreements constitute the entire agreement among the parties with respect to the subject matter of this Agreement. This Agreement (including the Schedules and Exhibits hereto)
and the Ancillary Agreements supersede all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter hereof of this Agreement. 

Section 10.11 Severability; Injunctive Relief If any provision of this Agreement or the application of any such provision to any
Person or circumstance is held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, the remainder of the provisions of this Agreement (or the application of such provision in other jurisdictions or to Persons or
circumstances other than those to which it was held invalid, illegal or unenforceable) will in no way be affected, impaired or invalidated, and to the extent permitted by applicable Law, any such provision will be restricted in applicability or
reformed to the minimum extent required for such provision to be enforceable. This provision will be interpreted and enforced to give effect to the original written intent of the parties prior to the determination of such invalidity or
unenforceability. 

  
 35 

 Section 10.12 Arbitration Any dispute between the parties hereto with respect to any
claim for indemnification or otherwise arising under this Agreement shall be resolved by binding arbitration in accordance with the following provisions, provided, however, that any party may seek injunctive relief or other equitable
relief to preserve the status quo pending arbitration. 
 (b) Any party to this Agreement may submit any dispute that is subject to
arbitration by giving written notice to the other parties hereto. Within 30 days after receipt of such notice by such other party, the parties hereto shall mutually select an arbitrator. If the parties are unable to agree upon such selection within
such 30 days, then either party may, upon at least five days prior written notice to the other party, request the American Arbitration Association to appoint the arbitrator. The American Arbitration Association may thereupon appoint the arbitrator.
The arbitrator shall be impartial and unrelated, directly or indirectly, so far as rendering of services is concerned to either of the parties or any of their respective Affiliates. The arbitration shall be conducted in Houston, Texas in accordance
with the Commercial Arbitration Rules of the American Arbitration Association, as then in effect, except as otherwise provided in this Section 10.12, and the arbitrator shall be paid on an hourly basis, except as otherwise mutually agreed;
provided, however, the parties hereto agree and affirm that any such arbitration as contemplated hereunder shall permit full and complete discovery hereunder. 

(c) The arbitrator shall investigate the facts and may, in his or her discretion, hold hearings, at which the parties hereto may present
evidence and arguments, be represented by counsel and conduct cross-examination. The arbitrator shall render a written decision on the matter presented as soon as practicable after his or her appointment and in any event not more than 90 days after
such appointment. The decision of the arbitrator, which may include equitable relief, shall be final and binding on the parties hereto, and judgment upon the decision may be entered in any court having jurisdiction thereof. If the arbitrator shall
fail to render a decision within such 90 day period, either party may institute such action or proceeding in such court as shall be appropriate in the circumstances and upon the institution of such action, the arbitration proceeding shall be
terminated and shall be of no further force and effect. Each party shall bear their own costs and expenses in any such proceeding. In resolving any dispute, the arbitrator shall apply the provisions of this Agreement and applicable law, without
varying therefrom in any respect. The arbitrator shall not have the power to add to, modify or change any of the provisions of this Agreement. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 

  
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 The parties hereto have caused this Agreement to be duly executed by their respective authorized
officers as of the day and year first above written. 
  

			
	PURCHASER:
	
	U.S. PHYSICAL THERAPY, LTD.
		
	By:	 	National Rehab Management GP, Inc.,
		 	its general partner
		
	By:	 	 /s/ Chris Reading

		 	Chris Reading, President
	
	SELLERS:
	
	ARC REHABILITATION SERVICES, LLC,
		
	By:	 	 /s/ Matthew J. Condon

		 	Matthew J. Condon, President/CEO
	
	ATHLETIC & REHABILITATION CENTER, LLC,
		
	By:	 	 /s/ Matthew J. Condon

		 	Matthew J. Condon, President/CEO
	
	OWNERS:
	
	 /s/ Matthew J. Condon

	Matthew J. Condon
	
	 /s/ Kevin O’Rourke

	Kevin O’Rourke

  
 37

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