Document:

Exhibit

Exhibit 4.12

PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED BECAUSE THEY ARE BOTH (i) NOT MATERIAL AND (ii) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. THE OMISSIONS HAVE BEEN INDICATED BY ASTERISKS (“[***]”).
Confidential
Execution Version
SETTLEMENT AND LICENSE AGREEMENT
This Settlement and License Agreement (this “Agreement”) is made and entered into as of February 18, 2019 (the “Effective Date”) by and between ASML Holding N.V., a corporation organized under the laws of the Netherlands (“ASML”), Nikon Corporation, a corporation organized under the laws of Japan (“Nikon”), Carl Zeiss SMT GmbH (“Zeiss”), and, for purposes of Sections 2.2.1, 3.8, 6.3.3, 6.6, 10.6, 10.8, 10.14, and 10.15, Carl Zeiss AG (“Carl Zeiss”). ASML, Nikon, and Zeiss are hereinafter also referred to collectively as the “Parties” and individually as a “Party.”

RECITALS
WHEREAS, as of the Effective Date, Nikon, ASML, Zeiss and Carl Zeiss are parties to or have initiated the Pending Proceedings (as defined below);
WHEREAS, Nikon, ASML, Carl Zeiss and Zeiss entered into a Memorandum of Understanding as of January 23, 2019 (“MOU”), pursuant to which they agreed, among other things, to settle certain litigation proceedings and grant cross-licenses of certain patent rights; and
WHEREAS, the Parties wish to settle, dismiss, and terminate the Pending Proceedings and grant each other certain rights and releases under their respective patents pursuant to the terms and conditions of this Agreement.
NOW, THEREFORE, the Parties hereby agree as follows:
AGREEMENT
		
	1.
	Definitions; Interpretation

1.1Terms Defined in this Agreement. The following terms when used in this Agreement shall have the following definitions:
1.1.1“2004 Agreements” means the (a) Memorandum of Understanding by and between ASML, Nikon, Zeiss, and Carl Zeiss, dated as of September 27, 2004, (b) Nikon-ASML Patent Cross-License Agreement by and between ASML and Nikon, dated as of November 12, 2004, (c) Nikon-ASML Settlement and Release Agreement by and between ASML and Nikon, dated as of November 12, 2004, (d) Patent Cooperation Agreement by and between ASML and Nikon, dated as of November 12, 2004, (e) Arbitration Agreement by and between the Parties and Carl Zeiss, dated as of November 12, 2004, (f) Nikon-Zeiss Patent Cross-License Agreement by and between Zeiss, Carl Zeiss and Nikon, dated as of November 12, 2004, (g) Nikon-Zeiss SMT Settlement and Release Agreement by and between Zeiss and Nikon, dated as of November 12, 2004, and (h) ASML-Zeiss Sublicense Agreement by and between ASML and Zeiss, dated as of November 12, 2004.

1.1.2“Acquirer” shall have the meaning set forth in the definition of “Change of Control” below.
1.1.3“Affiliate” means, with respect to any Person, any other Person that now or hereafter controls, is controlled by, or is under common control with, such first Person, but only for such time as control exists; provided, however, that for purposes of this Agreement (a) [***] and its Subsidiaries and (b) ASML and its Subsidiaries, in each case, are not Affiliates of Zeiss or Carl Zeiss or their respective Subsidiaries, and (c) neither Zeiss nor Carl Zeiss, nor their respective Subsidiaries, are Affiliates of ASML or its Subsidiaries. Solely for purposes of this definition, the definition of “Subsidiary” below and Section 8.3.1, “control” (and its correlatives) of a Person means possession, directly or indirectly, of the power to direct or cause the direction of management, business affairs, and policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise).
1.1.4“Agreement” shall have the meaning set forth in the first paragraph above.
1.1.5“A-N Post-Term Limitations” shall have the meaning set forth in Section 8.2.2(a).
1.1.6“Annual Sales Volume” shall have the meaning set forth in Section 9.3.1(a) above.
1.1.7“ASML” shall have the meaning set forth in the first paragraph
1.1.8“ASML Excluded Products” means FPD/Large Area Substrate Equipment.
1.1.9“ASML Grantee Entities” means ASML and all of its current and future Subsidiaries.
1.1.10“ASML Grantor Entities” means ASML and all of its current and future Affiliates.
1.1.11“ASML Licensed Patents” means (a) all Patents that are Licensable by any ASML Grantor Entity having an Effective Application Date on or prior to the end of the Term, and (b) any other Patent (“Second ASML Patent”) that is Licensable by any ASML Grantor Entity and has one or more claims that is not inventive over the subject matter disclosed in the Patents described in clause (a) above (or a Restricted Patent of ASML described in clause (a) of Section 1.1.87), if such Patents were prior art to that Second ASML Patent. A claim of a Second ASML Patent is not “inventive” over the subject matter disclosed in the Patents described in clause (a) if any Patents described in clause (a) above, alone or in combination with other prior art, would render such claim of the Second ASML Patent anticipated, lacking in novelty, obvious, or lacking inventive step if the Patents described in clause (a) above were prior art to the Second ASML Patent.
1.1.12“ASML Licensed Products” means Lithography Equipment and Lithography Components, and, in each case, all applications therefor; provided, however, that ASML Licensed Products exclude (a) ASML Excluded Products and (b) Components that are solely for use in ASML Excluded Products. For the avoidance of doubt, Lithography Equipment and Lithography Components are licensed in their entirety, including any Third Party Components thereof. Without limiting the generality of the foregoing, as of the Effective Date, “ASML Licensed Products” include ASML’s and its Grantee Entities’ products within the following product lines: TWINSCAN NXE (including TWINSCAN 

NXE 3400B, TWINSCAN NXE 3350B, and TWINSCAN NXE 3300B); TWINSCAN NXT (including TWINSCAN NXT 2000i, TWINSCAN NXT 1980Di, TWINSCAN NXT 1970Ci, and TWINSCAN NXT 1965Ci); and TWINSCAN XT (including TWINSCAN XT 1460K, TWINSCAN XT 1060K, TWINSCAN XT860M, and TWINSCAN XT400L).
1.1.13“ASML Supply Commitment” shall have the meaning set forth in Section 4.4.4.
1.1.14“Assignee” shall have the meaning set forth in Section 9.1.
1.1.15“Audited Party” shall have the meaning set forth in Section 5.7.
1.1.16“Auditing Party” shall have the meaning set forth in Section 5.7.
1.1.17“Carl Zeiss” shall have the meaning set forth in the first paragraph above.
1.1.18“Change of Control” means, with respect to a Party, the occurrence of (a) any merger, reorganization or other business combination of the Party with or into any Person pursuant to which the holders of a Party’s outstanding Voting Stock immediately prior to such transaction do not beneficially own a majority of the outstanding Voting Stock of the surviving or resulting entity (or its ultimate parent, if applicable), (b) any acquisition of direct or indirect beneficial ownership of Voting Stock (or the power to appoint or elect a majority of the board of directors or similar managing authority) of a Party by any Person or “group” (within the meaning of Section 13(d) or Rule 13d- 5(b)(1) under the Securities Exchange Act of 1934, as amended or any successor provision) of Persons, in each case which was not controlled by, in control of, or under common control with such Party prior to such acquisition (such Person, or group of Persons, or the Person referred to in clause (a) with or into which the Party is merged, reorganized or combined, as applicable, the “Acquirer”), such that following such acquisition such Acquirer has control of such Party, or (c) if any of the events in clauses (a) or (b) occur with respect to such Party’s Parent (substituting all references to such Party with such Party’s Parent), where, solely for such purpose, “Parent” of a Person means the ultimate parent company controlling such Person. Notwithstanding the foregoing, it is not a “Change of Control” if the transaction or series of transactions described in clauses (a), (b) or [***]. Solely for purposes of this definition, “control” (and its correlatives) of a Person means having either (i) direct or indirect beneficial ownership of (1) in the case where such Person has voting shares or other voting securities, including securities convertible into or exercisable for such securities, more than fifty percent (50%) of the outstanding shares or other voting securities entitled to vote for the election of directors or similar managing authority of such Person, or (2) in the case where such Person does not have voting shares or other voting securities, more than fifty percent (50%) of the ownership interest that represents the right to make decisions for such Person of the type and nature that could be made by having direct or indirect beneficial ownership of more than fifty percent (50%) of the voting shares or other voting securities of such Person if such Person had voting shares or other voting securities outstanding (such voting shares or other voting securities in the case of the foregoing clause (1) and such ownership interest in the case of the foregoing clause (2) referred to collectively as “Voting Stock”), or (ii) the power to appoint or elect a majority of such Person’s board of directors or similar managing authority.
1.1.19“Change of Status” shall have the meaning set forth in Section 8.3.1.

1.1.20“Component” for use in any article means any part, element, subsystem, subcomponent, or other component in, designed for use in, used in, or for use in, such article, including any material or consumable included in, or used or for use in or with such article, in all cases, including hardware and software. As to any article, a Component “of” or “thereof” will have the same meaning.
1.1.21“Component Supplier” means, with respect to a Party, direct and indirect suppliers to such Party or its Grantee Entities of Components for use in Licensed Products of such Party or its Grantee Entities. Notwithstanding anything to the contrary herein, with respect to Nikon and its Grantee Entities, Component Suppliers [***].
1.1.22“Converted Patent Family” shall have the meaning set forth in Section 3.6.2(a).
1.1.23“Co-Owned” (and the correlative “Co-Owners”) means, with respect to a Patent, that the Patent is jointly assigned to and/or jointly owned by two or more Persons (without regard to rights that employees may have in inventions that they develop during the period of, and within the scope of, their employment by any of such Persons, such as, for example, the right to receive monetary compensation or assert preemptive rights).
1.1.24“Covered Entities” of a Party means, with respect to a Licensed Product, the direct and indirect resellers, distributors, users and other customers of such Licensed Product of such Party or its Grantee Entities, and any Person acquiring such Licensed Product from any of the foregoing.
1.1.25“Cymer” means Cymer, LLC, a company organized under the laws of Nevada and a Subsidiary of ASML.
1.1.26“Designated Neutral” means [***] is unable or unwilling to perform the relevant function, a substitute of comparable experience who is mutually agreeable to the relevant Parties to the Dispute in question.
1.1.27“Designee” shall have the meaning set forth in Section 5.4.
1.1.28“Digital Camera” means a complete digital camera or digital camera body for personal or professional photography (including video) use. “Digital Camera” does not include microscopes, medical imaging equipment, or stand-alone lenses.
1.1.29“Dispute” shall have the meaning set forth in Section 10.4.1.
1.1.30“Effective Application Date” of a Patent means the earliest of (a) the filing or application date of such Patent, (b) in the event that such Patent directly or indirectly claims priority (where, for the avoidance of doubt, a claim of priority includes any claim made under any Law whereby a Patent is treated or given the same effect as if it were filed on, and/or entitled to the benefit of the filing date of an earlier-filed Patent) to the filing or application date of another Patent or Patents (“Priority Patent(s)”), the earliest Effective Application Date of such Priority Patent(s), and (c) the earliest filing or application date to which such Patent is entitled to claim priority. For the avoidance of doubt, the objective of this definition is to capture the earliest filing or application date to which a Patent in a Patent Family claims priority, by tracing back to the filing or application date of the first-filed member of the Patent Family.
1.1.31“Effective Date” shall have the meaning set forth in the first paragraph above.

1.1.32“EUV Lithography Equipment” means Lithography Equipment that performs Lithography using radiation with wavelengths of 20 nanometers or less, and all Components thereof.
1.1.33“Foreign Patent” shall have the meaning set forth in Section 8.2.3.
1.1.34“FPD/Large Area Substrate Equipment” means Lithography Equipment (a) for the manufacture of flat panel displays, or (b) for exposing large area substrates, other than semiconductor wafers, having a dimension greater than 500 mm along any dimension. For the avoidance of doubt, this definition does not include products for the manufacture or exposure of semiconductor wafers of any size such as, without limitation, any tool or machine for transferring a pattern onto a substrate by Lithography, for use in the fabrication of integrated circuits, thin film heads, micromachines, and other applications with requirements similar to any of the foregoing.
1.1.35[***].
1.1.36“Governmental Authority” means any: (a) nation, principality, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government, including any supranational organization, such as the European Commission; (c) governmental or quasi-governmental authority of any nature (including any governmental division, subdivision, department, agency, bureau, branch, office, commission, council, board, instrumentality, officer, official, representative, organization, unit, body or entity and any court, arbitration panel, or other tribunal); or (d) individual, entity or body exercising, or entitled to exercise, any executive, legislative, judicial, administrative, regulatory, police, military or taxing authority or power of any nature.
1.1.37“Grantee Entities,” when used in connection with a reference to a Party (e.g., such “Party’s Grantee Entities” or “a Party and its Grantee Entities”), means (a) with respect to ASML, the other ASML Grantee Entities, (b) with respect to Nikon, the other Nikon Grantee Entities, and (c) with respect to Zeiss, the other Zeiss Grantee Entities.
1.1.38“Grantor Entities,” when used in connection with a reference to a Party (e.g., such “Party’s Grantor Entities” or “a Party and its Grantor Entities”), means (a) with respect to ASML, the other ASML Grantor Entities, (b) with respect to Nikon, the other Nikon Grantor Entities, and (c) with respect to Zeiss, the other Zeiss Grantor Entities.
1.1.39“Immersion Lithography System” means an ASML Licensed Product or a Nikon Licensed Product, as applicable, that is an entire assembly of Lithography Equipment, wherein during exposure liquid is present between a last solid lens element and a substrate to be exposed.
1.1.40“Indemnified Party” shall have the meaning set forth in Section 8.3.2.
1.1.41“Indemnifying Party” shall have the meaning set forth in Section 8.3.2.
1.1.42“Independent Auditor” shall have the meaning set forth in Section 5.7.
1.1.43“Infringement” (and the correlative “Infringe”) with regard to a Patent means direct and indirect infringement (including inducement of infringement and contributory infringement) of such Patent, in all cases both literal and under the doctrine of equivalents and like doctrines.

1.1.44“Initially Designated Patent” shall have the meaning set forth in Section 3.6.1(b).
1.1.45[***].
1.1.46[***].
1.1.47“Law” means any law, statute, legislation, constitution, principle of common law, principle of equity, resolution, ordinance, code, order, edict, decree, proclamation, treaty, convention, rule, regulation, ruling, directive, pronouncement, requirement (licensing or otherwise), determination, decision, opinion or interpretation that is, has been or may in the future be issued, enacted, adopted, passed, approved, promulgated, made, implemented or otherwise put into effect by or under the authority of any Governmental Authority.
1.1.48“Licensable Co-Owned Patent” means a Patent that is Co-Owned only by (a) a Party and one or more of its Grantor Entities, (b) one or more ASML Grantor Entities and one or more Zeiss Grantor Entities, or (c) one or more ASML Grantor Entities, one or more Nikon Grantor Entities, or one or more Zeiss Grantor Entities, on the one hand, as applicable, and one or more Third Parties, on the other hand, as to which, and only to the extent and for such time as, and subject to the conditions under which, an ASML Grantor Entity, Nikon Grantor Entity, or Zeiss Grantor Entity, as applicable, has the right to grant the licenses and releases, and to extend the covenants not to sue, granted and extended in this Agreement (i) without such grant requiring consent of such Third Party or Third Parties, or (ii) where such grant requires consent of such Third Party or Third Parties, but only to the extent such Third Party or Third Parties has or have provided such consent.
1.1.49“Licensable” means, with respect to a Patent, a Patent that is Owned or Sublicensable by an ASML Grantor Entity, Nikon Grantor Entity, or Zeiss Grantor Entity, as applicable.
1.1.50“License Inquiry” shall have the meaning set forth in Section 3.5.
1.1.51“Licensed Patents” means the ASML Licensed Patents, the Nikon Licensed Patents, or the Zeiss Licensed Patents, as applicable. For purposes of this Agreement, the Licensed Patents “of” a Party means the ASML Licensed Patents, the Nikon Licensed Patents, or the Zeiss Licensed Patents, as applicable.
1.1.52“Licensed Products” means the ASML Licensed Products, the Nikon Licensed Products, or the Zeiss Licensed Products, as applicable. For purposes of this Agreement, the Licensed Products “of” a Party means ASML Licensed Products, Nikon Licensed Products or Zeiss Licensed Products, as applicable.
1.1.53“Lithography Components” means, individually and collectively, Components for use in Lithography Equipment, including (a) separately installed Components of any Lithography Equipment, (b) any optical elements, modules and systems, including illumination optical systems, projection optical systems, manipulation devices and mounting means of any Lithography Equipment, (c) any Components integrated in any Lithography Equipment, (d) materials for use in, and solely to the extent they are for use in, the operation of any Lithography Equipment, such as fluids and gases, (e) any software installed in such Lithography Equipment that is used to operate or control such Lithography Equipment, solely to the extent it is for use in the operation or control of Lithography Equipment; including where such Lithography Equipment uses and/or incorporates masks, or uses, incorporates and/or processes resists or substrates, including wafers; and (f) 

processes, materials and devices for designing, manufacturing, assembling, adjusting and qualifying any of the items described above; provided, however, that “Lithography Components” shall not include masks, resists, or substrates themselves. Notwithstanding the foregoing, “Lithography Components” include any entire standalone assembly of a tool or machine (where a “standalone assembly of a tool or machine” means an assembly that is not included in any Lithography Equipment) solely for (i) measuring either or both alignment marks on a wafer and the topography of a wafer, and (ii) using such measurements solely to calculate feedforward corrections for wafer stage positioning in an Immersion Lithography System (which, for the avoidance of doubt, includes Nikon’s LithoBooster Standalone Alignment Station as and in the form marketed by Nikon as of the Effective Date). For the avoidance of doubt, “Lithography Components” does not include, by way of examples only, the products of ASML’s Applications Business Lines, including ASML’s Yieldstar line of products and including the products of ASML’s HMI and Brion businesses, in each case, as and in the form such products are marketed by ASML and its Grantee Entities as of the Effective Date.
1.1.54“Lithography Equipment” means any tool or machine for forming or transferring a pattern on or onto a substrate by Lithography for use in the fabrication of integrated circuits, thin film heads, flat panel displays, micromachines, and other applications with similar requirements to any of the foregoing, including where such tool or machine uses and/or incorporates masks, or uses, incorporates and/or processes resists or substrates, including wafers, or performs maskless Lithography; provided, however, that “Lithography Equipment” shall not include masks, resists, or substrates themselves. For the avoidance of doubt, except where expressly indicated otherwise in this Agreement (such as in ASML Excluded Products, Nikon Excluded Products or Zeiss Excluded Products, as applicable), “Lithography Equipment” includes EUV Lithography Equipment and FPD/Large Area Substrate Equipment.
1.1.55“Lithography” means exposing a resist using optical (photons) means (including extreme ultraviolet). For clarity, “Lithography” does not include exposing a resist using particle (including electron beam) means.
1.1.56“MOU” shall have the meaning set forth in the Recitals above.
1.1.57“Net Payor” shall have the meaning set forth in Section 5.2.3.
1.1.58“Net Sales Price” means the revenue booked, in accordance with generally applicable accounting principles, as consistently applied, by any ASML Grantee Entity, or Nikon Grantee Entity, as applicable, for the first Sale by any such Grantee Entity of an Immersion Lithography System licensed hereunder that is shipped to a customer, as such revenue may be adjusted, in accordance with generally applicable accounting principles, as consistently applied, and only to the extent included in the revenue booked, for (a) rebates and discounts actually allowed, (b) amounts invoiced for sales taxes, value added taxes, excise taxes, and duties paid, absorbed or allowed, (c) amounts invoiced for transportation costs, (d) amounts repaid or credited by reason of returns for rejection or defects, (e) uncollectible amounts, and (f) insurance fees. For an Immersion Lithography System Sold by any ASML Grantee Entity or Nikon Grantee Entity to any Affiliate of such Grantee Entity for resale to a customer, the Net Sales Price shall be based on the first Sale of such Immersion Lithography System to a customer that is not an Affiliate of such Grantee Entity.

1.1.59“Nikon” shall have the meaning set forth in the first paragraph above.
1.1.60[***].
1.1.61“Nikon Excluded Products” means (a) EUV Lithography Equipment; and (b) Laser Sources. For the avoidance of doubt, ASML reserves the right to prohibit Infringement [***] by Nikon Grantee Entities, subject to the covenant and the conditions set forth in Section 4.4.
1.1.62“Nikon Grantee Entities” means Nikon and all of its current and future Subsidiaries.
1.1.63“Nikon Grantor Entities” means Nikon and all of its current and future Affiliates.
1.1.64“Nikon Licensed Patents” means (a) all Patents that are Licensable by any Nikon Grantor Entity having an Effective Application Date on or prior to the end of the Term, and (b) any other Patent (“Second Nikon Patent”) that is Licensable by any Nikon Grantor Entity and has one or more claims that is not inventive over the subject matter disclosed in the Patents described in clause (a) above (or a Restricted Patent of Nikon described in clause (a) of Section 1.1.87), if such Patents were prior art to that Second Nikon Patent. A claim of a Second Nikon Patent is not “inventive” over the subject matter disclosed in the Patents described in clause (a) if any Patents described in clause (a) above, alone or in combination with other prior art, would render such claim of the Second Nikon Patent anticipated, lacking in novelty, obvious, or lacking inventive step if the Patents described in clause (a) above were prior art to the Second Nikon Patent.
1.1.65“Nikon Licensed Products” means (a) Lithography Equipment and Lithography Components, and, in each case, all applications therefor, and (b) Digital Cameras and all applications therefor; provided, however, that Nikon Licensed Products exclude (i) Nikon Excluded Products and (ii) Components that are solely for use in Nikon Excluded Products. For the avoidance of doubt, Lithography Equipment, Lithography Components, and Digital Cameras are licensed in their entirety, including any Third Party Components thereof. Without limiting the generality of the foregoing, as of the Effective Date, “Nikon Licensed Products” include Nikon’s and its Grantee Entities’ products within the following product lines: NSR series, FX series, LithoBooster, D series, Z series, COOLPIX series, and KeyMission series.
1.1.66“Non-Licensable Patent” shall have the meaning set forth in Section 3.8.1.
1.1.67“Non-Selling Party” and “Non-Selling Parties” shall have the meanings set forth in Section 9.2.
1.1.68“Other Patent” shall have the meaning set forth in Section 3.6.3.
1.1.69“Owned” (and the correlative “Ownership”) means, with respect to a Patent of a Person, (a) a Patent that is solely assigned to and/or solely owned by such Person (without regard to rights that employees may have in inventions that they develop during the period of, and within the scope of, their employment by such Person, such as, for example, the right to receive monetary compensation or assert preemptive rights), or (b) a Licensable Co-Owned Patent. A Patent shall not be deemed “Owned” by the applicable Person to the extent and as long as it is a Restricted Patent.
1.1.70“Party” and “Parties” shall have the meaning set forth in the first paragraph above.

1.1.71“Patent in Dispute” shall have the meaning set forth in Section 3.5.
1.1.72“Patent Family” of a Patent means (a) such Patent and any Related Patents of such Patent, and (b) any Patent that has one or more claims that is not inventive over the subject matter disclosed in the Patent(s) described in clause (a) above, if such Patent(s) described in clause (a) immediately above were prior art to that Patent, where a claim of a Patent is not “inventive” over the subject matter disclosed in the Patent(s) described in clause (a) above if any Patent(s) described in clause (a) above, alone or in combination with other prior art, would render such claim anticipated, lacking in novelty, obvious, or lacking inventive step if the Patent(s) described in clause (a) above were prior art to the Patent containing such claim.
1.1.73“Patents” means all classes or types of patents (including design patents) and utility models of all countries of the world, and applications therefor (including provisional applications), together with any divisionals, continuations, continuations-in-part, reissues and results of re-examinations thereof.
1.1.74“Payee” shall have the meaning set forth in Section 5.2.5(b).
1.1.75“Payment” shall have the meaning set forth in Section 5.1.
1.1.76“Payment Date” shall have the meaning set forth in Section 5.5.
1.1.77“Payor” shall have the meaning set forth in Section 5.2.5(b).
1.1.78“Pending Proceedings” means all pending litigation, United States International Trade Commission investigations, and opposition, inter partes review, and other proceedings to which (a) ASML or any of its Affiliates and Nikon or any of its Affiliates, (b) Zeiss or any of its Affiliates and Nikon or any of its Affiliates, or (c) ASML and Zeiss, on the one hand, and Nikon, on the other hand, or any of their respective Affiliates, are a party or which (i) ASML or Zeiss, or any of their respective Affiliates, initiated with respect to Nikon or its Affiliates or their respective Patents, products, or businesses, (ii) Nikon or its Affiliates initiated with respect to ASML or Zeiss or their respective Affiliates or their respective Patents, products, or businesses, in each case as of the Effective Date, including those proceedings listed in Schedule A; provided, however, that unless specifically listed in Schedule A, Pending Proceedings do not include any pending challenges to the validity of any Patent (including any oppositions, nullity actions, inter partes review, post-grant proceedings, and like procedures for challenging patent validity), where such Patent either (A) includes at least one claim that claims subject matter other than the Licensed Products of the Party making such a challenge, or (B) expires after the end of the Term.
1.1.79“Person” means any person or entity, whether an individual, corporation, partnership, limited partnership, limited liability company, trust, foundation, unincorporated organization, business association, firm, joint venture or other legal entity.
1.1.80“Post-Term Limitations” shall have the meaning set forth in Section 8.2.2(b).
1.1.81“Post-Term Limitation Dispute” shall have the meaning set forth in Section 8.2.2(f).
1.1.82“Post-Term Patents” of a Party means all (a) Licensed Patents of such Party and its Grantor Entities and (b) Restricted Patents of such Party and its Grantor Entities.
1.1.83“Preliminary Report” shall have the meaning set forth in Section 5.5.

1.1.84“Quarterly Report” shall have the meaning set forth in Section 5.5.
1.1.85“Related Patents” shall have the meaning set forth in Section 3.6.3.
1.1.86“Relevant Books and Records” shall have the meaning set forth in Section 5.7.
1.1.87“Restricted Patent” means (a) any Patent having an Effective Application Date on or before the expiration of the Term, and (b) any Second Restricted Patent, in each case (i) which Patent results or has resulted from activities funded by a Governmental Authority, where the license of such Patent to Third Parties is generally prohibited under applicable Law or the applicable contract with such Governmental Authority in accordance with the standard procedures of such Governmental Authority, but only as long as such prohibition shall remain in force and effect, or (ii) which Patent (A) is Co-Owned by an ASML Grantor Entity, Nikon Grantor Entity, or Zeiss Grantor Entity, as applicable, on the one hand, and one or more Third Parties, on the other hand, and (B) is not a Licensable Co-Owned Patent, but only as long as, and solely to the extent that, it is not a Licensable Co-Owned Patent. A “Second Restricted Patent” means another Patent that has one or more claims that is not inventive over the subject matter disclosed in any Patent(s) described in clause (a) above (or in clause (a) of Sections 1.1.11, 1.1.64 or 1.1.112, as applicable “First Patent(s)”), if such First Patent(s) were prior art to that other Patent. A claim of a Second Restricted Patent is not “inventive” over the subject matter disclosed in any First Patent(s) if any First Patent(s), alone or in combination with other prior art, would render such claim of the Second Restricted Patent anticipated, lacking in novelty, obvious, or lacking inventive step if the First Patent(s) were prior art to the Second Restricted Patent. For purposes of this Agreement, the Restricted Patents “of” a Party means the Restricted Patents that are owned either solely by such Party or any of its Grantor Entities or jointly by such Party or any of its Grantor Entities, on one hand, and one or more Third Parties, on the other hand.
1.1.88“Reverted Patent” shall have the meaning set forth in Section 3.8.2.
1.1.89“Sale” means the direct or indirect sale, lease, or other conveyance of a product by or on behalf of a Person to another Person or such Person’s designee, agent, or proxy. “Sell” and “Sold” each has the correlative meaning.
1.1.90[***]
1.1.91“Selling Party” hall have the meaning set forth in Section 9.2.
1.1.92“Sublicensable” means, with respect to a Patent licensed or sublicensed to an ASML Grantor Entity, a Nikon Grantor Entity, or a Zeiss Grantor Entity, as applicable, such Grantor Entity has the right to grant licenses, sublicenses, or releases, or to extend covenants not to sue, but only to the extent and for such time as such Grantor Entity has such right, to the applicable other Party or its Grantee Entities and their respective Covered Entities and Component Suppliers within the scope of the licenses, releases, and covenants not to sue granted and extended under this Agreement without such grant of such licenses, sublicenses, or releases, or such extension of such covenants not to sue, resulting in a requirement to make a payment to any Third Party, except for payments (a) relating to the prosecution or maintenance of Patents, or (b) to Persons for inventions that they develop during the period of, and within the scope of, their employment by the applicable Grantor Entity.

1.1.93“Subsequently Designated Patent” shall have the meaning set forth in Section 3.6.1(b).
1.1.94“Subsidiary” of a Person means any other Person with respect to which such first Person now or hereafter meets all of the following requirements: (a) has “control” (as that term is defined in Section 1.1.3), (b) owns or controls (either directly or indirectly) an interest sufficient to receive at least seventy percent (70%) of the profits and losses of such other Person, and (c) owns or controls (either directly or indirectly) either (i) in the case where such other Person has voting shares or other voting securities, including securities convertible into or exercisable for securities, at least seventy percent (70%) of the then-outstanding voting shares or other voting securities entitled to vote for the election of directors or similar managing authority of such other Person, or (ii) in the case where such other Person does not have voting shares or other voting securities, including securities convertible into or exercisable for securities, at least seventy percent (70%) of the ownership interest that represents the right to make decisions for such other Person of the type and nature that could be made by the holder(s) of the voting shares or other voting securities of such other Person if such other Person had voting shares or other voting securities; provided that such other Person will be deemed a “Subsidiary” of such first Person only so long as all requisite conditions as described above of being a Subsidiary of such first Person are met.
1.1.95“Sue” means (a) to threaten, bring, or participate in any legal or equitable action, claim or demand in any court or before any tribunal or any arbitration or compulsory and binding alternative dispute resolution proceeding, either directly or indirectly, or (b) to instruct, request, encourage, or assist any designee, agent, nominee or other Third Party to do the same, unless legally compelled to do so by a valid subpoena or court order which the recipient has opposed by all reasonable means. “Sue” shall not be construed to include offers to license Patents in connection with cross-license or other license negotiations.
1.1.96“Suit” means any legal or equitable action, claim or demand in any court or before any tribunal or any arbitration or compulsory and binding alternative dispute resolution proceeding, or any threat thereof, but not including offers to license Patents in connection with cross-license or other license negotiations.
1.1.97“Tax Documents” shall have the meaning set forth in Section 5.2.5(b).
1.1.98“Term” means the period beginning on the Effective Date and ending on the tenth (10th) anniversary of the Effective Date.
1.1.99“Term-Extended Patents” shall have the meaning set forth in Section 8.2.3.
1.1.100“Third Party” means, with respect to any Party, any Person that is not an Affiliate of such Party.
1.1.101“Transfer” shall have the meaning set forth in Section 9.5.
1.1.102“Transferee” shall have the meaning set forth in Section 9.5.
1.1.103“Transferor” shall have the meaning set forth in Section 9.5.
1.1.104“Treaties” shall have the meaning set forth in Section 5.2.5(b).

1.1.105“Withheld Amount” shall have the meaning set forth in Section 5.2.5(b).
1.1.106“Z-N Post-Term Limitations” shall have the meaning set forth in Section 8.2.2(b).
1.1.107“Zeiss” shall have the meaning set forth in the first paragraph above.
1.1.108“Zeiss Digital Camera” means (a) Carl Zeiss’s ZX1 Digital Camera, and (b) future Digital Cameras [***].
1.1.109“Zeiss Excluded Products” means FPD/Large Area Substrate Equipment.
1.1.110“Zeiss Grantee Entities” means (a) Zeiss and its Subsidiaries with respect to Zeiss Lithography Components, and (b) Carl Zeiss and its Subsidiaries with respect to Zeiss Digital Cameras.
1.1.111“Zeiss Grantor Entities” means Carl Zeiss and all of its current and future Affiliates, including Zeiss and its current and future Affiliates.
1.1.112“Zeiss Licensed Patents” means (a) all Patents that are Licensable by any Zeiss Grantor Entity having an Effective Application Date on or prior to the end of the Term, and (b) any other Patent (“Second Zeiss Patent”) that is Licensable by any Zeiss Grantor Entity and has one or more claims that is not inventive over the subject matter disclosed in the Patents described in clause (a) above (or a Restricted Patent of Zeiss described in clause (a) of Section 1.1.87), if such Patents were prior art to that Second Zeiss Patent. A claim of a Second Zeiss Patent is not “inventive” over the subject matter disclosed in the Patents described in clause (a) if any Patents described in clause (a) above, alone or in combination with other prior art, would render such claim of the Second Zeiss Patent anticipated, lacking in novelty, obvious, or lacking inventive step if the Patents described in clause (a) above were prior art to the Second Zeiss Patent.
1.1.113“Zeiss Licensed Products” means (a) Lithography Components and all applications therefor (“Zeiss Lithography Components”), and (b) Zeiss Digital Cameras and all applications therefor; provided, however, that Zeiss Licensed Products exclude Components that are solely for use in Zeiss Excluded Products. For the avoidance of doubt, (1) Zeiss Lithography Components and (2) Zeiss Digital Cameras are licensed in their entirety, including any Third Party Components thereof. Without limiting the generality of the foregoing, as of the Effective Date, “Zeiss Licensed Products” include Zeiss’ and its Grantee Entities’ products within the following product lines: Starlith® series; and optical components supplied by Zeiss or its Grantee entities for incorporation in ASML Licensed Products as listed in Section 1.1.12.
1.1.114“Zeiss Lithography Components” shall have the meaning set forth in the definition of Zeiss Licensed Products.
1.2Interpretation.
1.2.1Certain Terms. The words “hereof,” “herein,” “herewith,” “hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement. The terms “including”, “include” and “includes” are not limited and means “including without limitation”, “include without limitation”, and “includes without limitation” respectively.

1.2.2Section References; Titles and Subtitles. Unless otherwise noted, all references to Sections and Schedules herein are to Sections and Schedules of this Agreement. The titles, captions and headings of this Agreement are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.
1.2.3Reference to Persons, Agreements, Statutes. Unless otherwise expressly provided herein, (a) references to a Person include its successors and permitted assigns, (b) references to agreements (including this Agreement) and other contractual instruments shall be deemed to include all subsequent amendments, restatements and other modifications thereto or supplements thereof, and (c) references to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such statute or regulation.
1.2.4Further Negotiations. Any reference in this Agreement to subsequent meetings, discussions, or negotiations between any of the Parties shall be interpreted to include an obligation of the Parties to conduct such meetings, discussions, or negotiations in good faith.
		
	2.
	Releases and Dismissal of Pending Proceedings

2.1Releases.
2.1.1ASML’s Release of Nikon. To the maximum extent permitted under applicable Law, ASML, on its own behalf and on behalf of all other ASML Grantor Entities, hereby irrevocably releases, acquits, and forever discharges:
(a)all of the Nikon Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability for violation or Infringement, or alleged violation or Infringement of ASML Licensed Patents, to the extent such claims or liability are based in whole or in part on acts before the Effective Date that would have been licensed under this Agreement had they been performed after the Effective Date; and
(b)all of the Nikon Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability arising out of any actual or alleged breach of the 2004 Agreements, to the extent such claims or liability are based in whole or in part on acts or omissions that are known to ASML or its Grantor Entities as of the Effective Date, including any acts or omissions raised or alleged in any of the Pending Proceedings.
2.1.2Nikon’s Release of ASML. To the maximum extent permitted under applicable Law, Nikon, on its own behalf and on behalf of all other Nikon Grantor Entities, hereby irrevocably releases, acquits, and forever discharges:
(a)all of the ASML Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability for violation or Infringement, or alleged violation or Infringement of Nikon Licensed Patents, to the extent such claims or liability are based in whole or in part on acts before the Effective Date that would have been licensed under this Agreement had they been performed after the Effective Date; and
(b)all of the ASML Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability arising out of any actual or alleged breach of the 2004 Agreements, to 

the extent such claims or liability are based in whole or in part on acts or omissions that are known to Nikon or its Grantor Entities as of the Effective Date, including any acts or omissions raised or alleged in any of the Pending Proceedings.
2.1.3Nikon’s Release of Zeiss. To the maximum extent permitted under applicable Law, Nikon, on its own behalf and on behalf of all other Nikon Grantor Entities, hereby irrevocably releases, acquits, and forever discharges:
(a)all of the Zeiss Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability for violation or Infringement, or alleged violation or Infringement of Nikon Licensed Patents, to the extent such claims or liability are based in whole or in part on acts before the Effective Date that would have been licensed under this Agreement had they been performed after the Effective Date; and
(b)all of the Zeiss Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability arising out of any actual or alleged breach of the 2004 Agreements, to the extent such claims or liability are based in whole or in part on acts or omissions that are known to Nikon or its Grantor Entities as of the Effective Date, including any acts or omissions raised or alleged in any of the Pending Proceedings.
2.1.4Zeiss’ Release of Nikon. To the maximum extent permitted under applicable Law, Zeiss, on its own behalf and on behalf of all other Zeiss Grantor Entities, hereby irrevocably releases, acquits, and forever discharges:
(a)all of the Nikon Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability for violation or Infringement, or alleged violation or Infringement of Zeiss Licensed Patents, to the extent such claims or liability are based in whole or in part on acts before the Effective Date that would have been licensed under this Agreement had they been performed after the Effective Date; and
(b)all of the Nikon Grantee Entities, and their respective employees, directors, officers, agents, successors, assigns, heirs, executors and administrators, from any and all claims and liability arising out of any actual or alleged breach of the 2004 Agreements, to the extent such claims or liability are based in whole or in part on acts or omissions that are known to Zeiss or its Grantor Entities as of the Effective Date, including any acts or omissions raised or alleged in any of the Pending Proceedings.
2.1.5Unknown Claims. Each Party, on behalf of itself and its Grantor Entities, hereby irrevocably and forever expressly waives all rights such Party and/or its Grantor Entities may have arising under California Civil Code Section 1542 and all similar rights under the Laws of any other applicable jurisdictions with respect to the releases granted by such Person under Sections 2.1.1, 2.1.2, 2.1.3, 2.1.4, and/or 2.2.2, as applicable. Each Party, on behalf of itself and its Grantor Entities, hereby acknowledges that it and they understand that Section 1542 provides that:
A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.

Each Party, on behalf of itself and its Grantor Entities, hereby acknowledges that it and they have been fully informed by its and their counsel concerning the effect and import of this Agreement under California Civil Code Section 1542 and similar Laws of any other applicable jurisdictions.
2.2Dismissal of Pending Proceedings.
2.2.1General. Each Party and its respective Grantor Entities to the extent required shall complete, execute and file, and hereby authorizes its respective counsel to complete, execute and file, with the applicable courts and other Governmental Authorities, including the United States International Trade Commission, all such documents and filings, and each Party and its respective Grantor Entities to the extent required shall take such other actions, and hereby authorizes each Party’s respective counsel to take such other actions, as are required to fully dismiss and terminate with prejudice, all Pending Proceedings and all claims and counterclaims and investigations that were asserted in or are the subject of any Pending Proceedings. All such actions shall be taken no later than four (4) business days after the Effective Date. If dismissal or withdrawal of any Pending Proceeding is not within the right of a Party or its Grantor Entities, such Party and its Grantor Entities shall make no further arguments and take no further action in support of such Pending Proceeding, except to the extent required by Law or compelled to do so by the applicable Governmental Authority.
2.2.2Competition and Antitrust Investigations. To the maximum extent permitted under applicable Law, ASML and Zeiss, on the one hand, and Nikon, on the other hand, will, and will cause their respective Grantor Entities to, withdraw or terminate all pending antitrust or competition Law claims, actions, and proceedings brought or made against the other Party or any of its Grantor Entities before or by any Governmental Authority.
2.2.3Release of Bonds. Each Party hereby authorizes and agrees to the retrieval and release of any bond or security placed by any other Party or any of its Grantor Entities in any Pending Proceeding, and each Party hereby authorizes each Party’s counsel to complete, execute, and file all such documents and filings, and take such other actions, as are required for such retrieval and release of any such bond or security.
2.2.4Cooperation. Each Party shall, and shall ensure its Grantor Entities shall, also promptly complete, execute, and file such other documents, take such other steps, and cooperate with and assist the other Parties and their respective counsel, in each case as may be required or reasonably requested by another Party to give effect to the dismissals, terminations, and withdrawals contemplated herein and the other provisions of this Agreement.
2.2.5No Admission. This Agreement is entered into in order to compromise and settle disputed claims and proceedings, without any concession or admission of validity or invalidity, enforceability or non-enforceability, or Infringement or non-Infringement of any Patents by any Party or any of its Grantor Entities, and without any acquiescence on the part of any Party or any of its Grantor Entities as to the merit of any claim, defense, affirmative defense, counterclaim, liabilities or damages related to any Patents or the Pending Proceedings. Neither this Agreement nor any part hereof shall be, or be used as, an admission of Infringement, liability, validity or enforceability of any Patent by either Party or its Affiliates, at any time for any purpose.

2.2.6Validity Challenges. Nothing in this Agreement shall preclude a Party or its Affiliates from challenging the validity of any Patent, and the Parties agree to waive any applicable defense of res judicata, collateral estoppel, or like doctrine in the event such challenge concerns a claim or defense dismissed pursuant to Section 2.2.1.
		
	3.
	License Grants

3.1Nikon Grant to ASML. Nikon, on behalf of itself and the other Nikon Grantor Entities, hereby grants to each ASML Grantee Entity, under the Nikon Licensed Patents, retroactive to the Effective Application Date of each Nikon Licensed Patent, a non-exclusive, non-sublicensable (provided that this restriction on sublicensing shall not limit or otherwise affect the covenants and other rights set forth in Section 4), non-transferable (except as set forth in Sections 9.1 through 9.3) license, only during the Term (except as expressly provided in Section 8.2.1), to (a) make, use (including use with patterns or masks for processing substrates such as wafers), Sell, offer to Sell, import and export ASML Licensed Products anywhere in the world, (b) have ASML Licensed Products made by its manufacturers anywhere in the world, provided that, solely for purposes of this clause (b) and without limiting Section 4.5, such have made right is conditioned upon (i) such manufacturers making the ASML Licensed Products in accordance with specifications provided by an ASML Grantee Entity, and (ii) such ASML Licensed Products not being “off the shelf” products offered for Sale by or on behalf of such manufacturer to Persons other than ASML Grantee Entities or Zeiss Grantee Entities, (c) practice any method or process anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of ASML Licensed Products designed, made, used and/or Sold under this Section 3.1, and (d) make, have made, and use (including use with patterns or masks for processing substrates such as wafers) any tool, software, machine, or other apparatus anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of ASML Licensed Products designed, made, used and/or Sold under this Section 3.1. The rights granted in this Section 3.1 are qualified by Section 3.9.
3.2ASML Grant to Nikon. ASML, on behalf of itself and the other ASML Grantor Entities, hereby grants to each Nikon Grantee Entity, under the ASML Licensed Patents, retroactive to the Effective Application Date of each ASML Licensed Patent, a non-exclusive, non-sublicensable (provided that this restriction on sublicensing shall not limit or otherwise affect the covenants and other rights set forth in Section 4), non-transferable (except as set forth in Sections 9.1 through 9.3) license, only during the Term (except as expressly provided in Section 8.2.1), to (a) make, use (including use with patterns or masks for processing substrates such as wafers), Sell, offer to Sell, import and export Nikon Licensed Products anywhere in the world, (b) have Nikon Licensed Products made by its manufacturers anywhere in the world, provided that, solely for purposes of this clause (b) and without limiting Section 4.5, such have made right is conditioned upon (i) such manufacturers making the Nikon Licensed Products in accordance with specifications provided by a Nikon Grantee Entity, and (ii) such Nikon Licensed Products not being “off the shelf” products offered for Sale by or on behalf of such manufacturer to Persons other than Nikon Grantee Entities, (c) practice any method or process anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of Nikon Licensed Products designed, made, used and/or Sold under this Section 3.2, and (d) make, have made, and use (including use with patterns or masks for processing substrates such as wafers) any tool, software, machine, or other apparatus anywhere in the world in connection 

with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of Nikon Licensed Products designed, made, used and/or Sold under this Section 3.2. The rights granted in this Section 3.2 are qualified by Section 3.9.
3.3Nikon Grant to Zeiss. Nikon, on behalf of itself and the other Nikon Grantor Entities, hereby grants to each applicable Zeiss Grantee Entity, under the Nikon Licensed Patents, retroactive to the Effective Application Date of each Nikon Licensed Patent, a non-exclusive, non-sublicensable (provided that this restriction on sublicensing shall not limit or otherwise affect the covenants and other rights set forth in Section 4), non-transferable (except as set forth in Sections 9.1 through 9.3) license, only during the Term (except as expressly provided in Section 8.2.1), to (a) make, use (including use with patterns or masks for processing substrates such as wafers), Sell, offer to Sell, import, and export Zeiss Licensed Products anywhere in the world, (b) have Zeiss Licensed Products made by its manufacturers anywhere in the world, provided that, solely for purposes of this clause (b) and without limiting Section 4.5, such have made right is conditioned upon (i) such manufacturers making the Zeiss Licensed Products in accordance with specifications provided by a Zeiss Grantee Entity, and (ii) such Zeiss Licensed Products not being “off the shelf” products offered for Sale by or on behalf of such manufacturer to Persons other than Zeiss Grantee Entities or ASML Grantee Entities, (c) practice any method or process anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of Zeiss Licensed Products designed, made, used and/or Sold under this Section 3.3, and (d) make, have made, and use (including use with patterns or masks for processing substrates such as wafers) any tool, software, machine, or other apparatus anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of Zeiss Licensed Products designed, made, used and/or Sold under this Section 3.3. The rights granted in this Section 3.3 are qualified by Section 3.9.
3.4Zeiss Grant to Nikon. Zeiss, on behalf of itself and the other Zeiss Grantor Entities, hereby grants to each Nikon Grantee Entity, under the Zeiss Licensed Patents, retroactive to the Effective Application Date of each Zeiss Licensed Patent, a non-exclusive, non-sublicensable (provided that this restriction on sublicensing shall not limit or otherwise affect the covenants and other rights set forth in Section 4), non-transferable (except as set forth in Sections 9.1 through 9.3) license, only during the Term (except as expressly provided in Section 8.2.1), to (a) make, use (including use with patterns or masks for processing substrates such as wafers), Sell, offer to Sell, import, and export Nikon Licensed Products anywhere in the world, (b) have Nikon Licensed Products made by its manufacturers anywhere in the world, provided that, solely for purposes of this clause (b) and without limiting Section 4.5, such have made right is conditioned upon (i) such manufacturers making the Nikon Licensed Products in accordance with specifications provided by a Nikon Grantee Entity, and (ii) such Nikon Licensed Products not being “off the shelf” products offered for Sale by or on behalf of such manufacturer to Persons other than Nikon Grantee Entities, (c) practice any method or process anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, qualification, maintenance, support, repair, or diagnosis of Nikon Licensed Products designed, made, used and/or Sold under this Section 3.4, and (d) make, have made, and use (including use with patterns or masks for processing substrates such as wafers) any tool, software, machine, or other apparatus anywhere in the world in connection with the design, manufacture, installation, assembly, operation, adjustment, measurement, 

qualification, maintenance, support, repair, or diagnosis of Nikon Licensed Products designed, made, used and/or Sold under this Section 3.4. The rights granted in this Section 3.4 are qualified by Section 3.9.
3.5Inquiries as to Patents. In the event that a Third Party Sues a Party or any of its Grantee Entities, Covered Entities or Component Suppliers, and alleges or asserts that such Party or any of its Grantee Entities, Covered Entities or Component Suppliers has Infringed, or invites such Party or any of its Grantee Entities, Covered Entities or Component Suppliers to license, any one or more Patents of such Third Party, or if a Party or any of its Grantee Entities, Covered Entities or Component Suppliers is otherwise actively engaged in licensing negotiations with a Third Party with respect to any one or more Patents (each a “Patent in Dispute”), such Party may request that any other Party that is a licensor of rights under this Agreement to such Party confirm whether each such Patent in Dispute is included within the Licensed Patents of such other Party hereunder (a “License Inquiry”). License Inquiries shall be in writing and shall set forth the identity of the applicable Third Party and each Patent in Dispute. With respect to each License Inquiry, the responding Party will inform the inquiring Party (a) if the Patent in Dispute is a Licensed Patent of such responding Party, and (b) if so, the scope of the rights thereunder, if any, to grant and extend the licenses, covenants and other rights granted and extended hereunder. If, after responding to any License Inquiry, the responding Party becomes aware of any inaccuracy in the response to a License Inquiry provided to the inquiring Party, the responding Party will, as its sole obligation or liability for any such failure, promptly notify the inquiring Party and provide a corrected response.
3.6Conversion of Licensed Patents.
3.6.1Conversion.
(a)At any time from the Effective Date until six (6) months after the end of the Term, by written notice provided to the licensor Party, (i) ASML and Zeiss may jointly designate up to twenty (20) Nikon Licensed Patents to be converted into perpetually licensed Patents, and (ii) Nikon may designate up to twenty (20) ASML Licensed Patents and Zeiss Licensed Patents (in the aggregate including both ASML Licensed Patents and Zeiss Licensed Patents) to be converted into perpetually licensed Patents, in each case as further described herein. Nikon’s allocation of designated ASML Licensed Patents and designated Zeiss Licensed Patents is in Nikon’s discretion, which means that Nikon may designate any number of ASML Licensed Patents or Zeiss Licensed Patents (and Nikon may, for example, designate twenty (20) ASML Licensed Patents and zero (0) Zeiss Licensed Patents, or vice versa), provided that the total number does not exceed twenty (20) in the aggregate, including both designated ASML Licensed Patents and designated Zeiss Licensed Patents.
(b)Notwithstanding Section 3.6.1(a), in the event that Nikon, on the one hand, or ASML and Zeiss, on the other hand, designates a Licensed Patent of the other Party to be converted into a perpetually licensed patent as set forth in Section 3.6.1(a) (the “Initially Designated Patent”) and such other Party is of the opinion that such Initially Designated Patent (i) is a Restricted Patent or (ii) is not Licensable within the full scope of rights granted to the first Party under this Agreement (e.g., because it is not Owned or because it is subject to an encumbrance, such as an exclusive license for a portion of the field of the Licensed Products of a Party), then such other Party shall promptly notify such first Party thereof. If the Parties agree that such Initially Designated Patent is either a Restricted Patent or not Licensable within the full scope of rights granted to the first Party under this Agreement, then (A) such first Party shall have the right, within six (6) months of such agreement, to 

designate another Licensed Patent of the other Party (the “Subsequently Designated Patent”) to be converted into a perpetually licensed patent pursuant to Section 3.6.1(a) in lieu of such Initially Designated Patent, and (B), upon any such designation, the provision of Section 3.7 shall be perpetual with regard to any such Initially Designated Patent unless the Party who designated the Initially Designated Patent knew, or objectively should have known, that the Initially Designated Patent was a Restricted Patent when such Party made its designation. If the Parties do not so agree with respect to the Initially Designated Patent or the Subsequently Designated Patent, they shall resolve such dispute pursuant to Section 10.4. If it is determined in such arbitration that such Initially Designated Patent or Subsequently Designated Patent is (x) a Restricted Patent or (y) not Licensable within the full scope of rights granted to the first Party under this Agreement, then such first Party shall provide in such arbitration proceedings a list, in order of preference, of Licensed Patents of the other Party to be converted into perpetually licensed patents pursuant to Section 3.6.1(a) in lieu of such Initially Designated Patent or Subsequently Designated Patent and the first of such Patents, if any, with respect to which it is determined in such arbitration proceedings that it is (1) not a Restricted Patent and (2) Licensable within the full scope of rights granted to the first Party under this Agreement shall be finally converted into a perpetually licensed patent in accordance with Section 3.6.1(a) in lieu of such Initially Designated Patent or Subsequently Designated Patent. If no Convertible Patent on such list is determined to meet such requirements, such Party may supplement the list and the process will be repeated until such first Party is able to fully exercise its rights under Section 3.6.1(a).
3.6.2Effect.
(a)Converted Patent Family. Upon conversion of a Licensed Patent in accordance with Section 3.6.1 such designated Licensed Patent, together with Related Patents thereof shall, collectively, constitute a “Converted Patent Family” and the license, releases, covenants, and other rights under this Agreement to all Patents within such Converted Patent Family under Sections 3.1, 3.2, 3.3, 3.4, and 4, as applicable, will become perpetual notwithstanding the expiration of the Term, retroactive to the Effective Application Date of the applicable Patent. For the avoidance of doubt, (i) the foregoing shall also apply with respect to Patents in such Converted Patent Family that issue after such conversion; (ii) following the joint designation by ASML and Zeiss of any Nikon Licensed Patent for conversion pursuant to Section 3.6.1, the Converted Patent Family of such Nikon Licensed Patent will automatically be perpetually licensed to both ASML Grantee Entities and Zeiss Grantee Entities and perpetually subject to applicable covenants and other rights for their respective Covered Entities and Component Suppliers, in each case, in accordance with the terms and conditions of this Agreement; and (iii) following the designation by Nikon of any ASML Licensed Patent and/or Zeiss Licensed Patent for conversion pursuant to Section 3.6.1, the Converted Patent Family of such ASML Licensed Patent and/or Zeiss Licensed Patent will automatically be perpetually licensed to Nikon Grantee Entities and perpetually subject to applicable covenants and other rights for their respective Covered Entities and Component Suppliers, in each case, in accordance with the terms and conditions of this Agreement.
(b)Pre-Conversion Release. If any conversion right under Section 3.6.1 with respect to any Converted Patent Family is exercised after the expiration of the Term, the licensor Party, on its own behalf and on behalf of all of its Grantor Entities, hereby irrevocably 

releases, acquits, and discharges the applicable licensee Party and each of its Grantee Entities, from any and all claims and liability for Infringement of any Patent included in such Converted Patent Family, which claims or liability are based in whole or in part on acts before the date of such conversion that would have been licensed under this Agreement had they been performed after the date of such conversion.
(c)Pre-Conversion Covenant. Notwithstanding anything to the contrary therein, the covenants under Section 4 with respect to any Patent included in a Converted Patent Family will also apply with respect to acts occurring between the end of the Term and the date of conversion of such Patent, to the same extent that such covenants would apply had such acts occurred during the Term.
(d)No Defensive Rights as to Converted Patents. Upon conversion of a Licensed Patent in accordance with Section 3.6.1, the provisions of Sections 4.1.2, 4.2.2, 4.2.4, 4.3.2, and 4.5.2, shall no longer apply with respect to any Patent included in any Converted Patent Family. If, prior to the date of conversion of any Patent in any Covered Patent Family, a Party has exercised its defensive rights pursuant to any of the foregoing Sections and, in accordance with those Sections, asserted a claim of Infringement of any such Patent included in any Converted Patent Family against a Covered Entity or Component Supplier, then, upon such conversion, such asserting Party will, and will cause its applicable Grantor Entities to, take all other actions as are required to fully dismiss and terminate with prejudice all claims and counterclaims that were asserted under any such Patent included in any Converted Patent Family, that would then be in violation of any of the covenants under Section 4 in the absence of any defensive rights under Sections 4.1.2, 4.2.2, 4.2.4, 4.3.2, and 4.5.2.
3.6.3Definition. For purposes of this Section 3.6 and Sections 1.1.72 and 8.2.3, “Related Patents” of a Patent means all other Patents anywhere in the world that (a) claim priority to, directly or indirectly, the Patent that is designated in accordance with Section 3.6.1, or (b) any Patent to or from which the designated Patent directly or indirectly claims priority, in each case, as that term is used in Section 1.1.30. A Patent that is not otherwise a Related Patent of a Patent that is designated in accordance with Section 3.6.1 (“Other Patent”), but that has one or more claims that are not inventive over the subject matter disclosed in a Patent within a Converted Patent Family if such Patent were prior art to that Other Patent, will be deemed to be included in the Converted Patent Family. For the avoidance of doubt, a claim of an Other Patent is not inventive under this Section 3.6.3 if any Patents within any Converted Patent Families, alone or in combination with other prior art, would render the claim of the Other Patent anticipated, lacking in novelty, obvious, or lacking inventive step if the Patent(s) within the one or more Converted Patent Families were prior art to the Other Patent.
3.7Restricted Patents.
3.7.1Covenant Not to Sue.
(a)ASML and Zeiss Covenants. ASML and Zeiss each covenants, to the extent not precluded by contractual obligations that exist as of the Effective Date, that it shall not, and shall cause its respective Grantor Entities not to, and shall not grant consent to, or otherwise assist, encourage, or permit, any Co-Owner of any Restricted Patent of such Party and its Grantor Entities to Sue Nikon or its Grantee Entities for Infringement or alleged Infringement of Restricted Patents of such Party and its Grantor Entities, based in whole or in part on activities that would be licensed under Section 3.2 or Section 3.4, respectively, if 

such Restricted Patents were Licensable by such covenanting Party. The covenant under this Section 3.7.1(a) shall apply perpetually as to all activities occurring, and Licensed Product as Sold, during the Term.
(b)Nikon Covenants. Nikon covenants, to the extent not precluded by contractual obligations that exist as of the Effective Date, that it shall not, and shall cause its Grantor Entities not to, and shall not grant consent to, or otherwise assist, encourage, or permit, any Co-Owner of any Restricted Patent of Nikon and its Grantor Entities to Sue ASML or Zeiss or their respective Grantee Entities for Infringement or alleged Infringement of Restricted Patents of Nikon and its Grantor Entities, based in whole or in part on activities that would be licensed under Section 3.1 or Section 3.3, respectively, if such Restricted Patents were Licensable by such covenanting Party. The covenant under this Section 3.7.1(b) shall apply perpetually as to all activities occurring, and Licensed Product as Sold, during the Term.
(c)Each Party further covenants, on behalf of itself and its Grantor Entities, to the extent not precluded by contractual obligations that exist as of the Effective Date, that Section 4 shall apply to Restricted Patents to the same extent and in the same manner and during the same time periods as if such Restricted Patents were Licensable by such covenanting Party.
3.7.2Consent to License. Subject to Section 3.7.3, each of ASML and Zeiss, on the one hand, and Nikon, on the other hand, on behalf of itself and its respective Grantor Entities, hereby grants its consent to a license to the other Party (or Parties, as applicable) and their Grantee Entities of the full scope of the licenses, covenants and other rights (including releases and covenants not to Sue) granted to such other Party (or Parties, as applicable) under this Agreement under any Restricted Patent of such consenting Party, provided, however, that such grant does not result in any payment obligations by such first Party to any Co-Owner of such Restricted Patent, other than payments relating to prosecution or maintenance of Patents.
3.7.3No Obligation to Seek Consent. Notwithstanding anything to the contrary in this Agreement, no Party shall have any obligation to seek or obtain consent from any Co-Owner of any Restricted Patent with respect to a grant of any license, covenant or other right under such Restricted Patent.
3.8No Circumvention.
3.8.1No Party nor its respective Grantor Entities shall make any sale, assignment, transfer, or other conveyance or transaction (a) with respect to any Licensed Patent Owned by such Party or its Grantor Entities that would result in such Licensed Patent becoming a Restricted Patent, or (b) with any other Person that is intended to circumvent the licenses, covenants, and other rights granted by such Party under this Agreement with respect to any Patent, including by entering into any “privateering” or other arrangement with a Third Party with respect to any Patent that is not Licensable by such Party but would be a Licensed Patent if it were, as of the Effective Date or at any time during or after the Term, Owned or Sublicensable by such Party (“Non-Licensable Patent”). Without limiting the foregoing, to the extent, if any, that a Party or one of its Grantor Entities has the ability to Sue or to direct, cause, control, encourage, or prevent any Suit under any Non-Licensable Patent (whether through consent rights, veto rights, rights to direct, or otherwise), such Party covenants and agrees, and agrees to cause its Grantor Entities, (i) not to Sue, (ii) not to direct, cause, control, encourage, or consent to a Suit by any other Person of, (iii) to exercise any 

veto rights with respect to, or other rights to prevent, the Suit by any other Person of, and (iv) not to voluntarily join any Suit by any other Person of, any such Non-Licensable Patent, in each case to the extent that there would have been a defense with respect to such Suit pursuant to this Agreement (including as a result of exhaustion) had such Non-Licensable Patent been Licensable by such Party to the full extent of the licenses, covenants, and other rights granted and extended by such Party pursuant to this Agreement. The obligations under this Section 3.8 shall apply (A) during the Term, and (B) after the Term only with respect to those rights surviving under Section 8.2.1 including the Post-Term Limitations as set forth in Section 8.2.2.
3.8.2To the extent that a Party, or its respective Grantor Entities, is by operation of German Law obligated to offer the inventor of any Licensed Patent of such Party, the option to maintain such Patent or file a subsequent Patent application claiming priority from such Patent in his or her own name in any country in which such Party or its Grantor Entity is not interested in pursuing such Patent (any such Patent, a “Reverted Patent”), such Party or its Grantor Entity shall comply with Section 9.5 with respect to such Reverted Patent. To the extent, if any, that German Law does not allow such Party or its Grantor Entity to comply with Section 9.5, Section 8.3.2(c) shall apply.
3.9No Patent Laundering.
3.9.1No Patent Laundering. The licenses granted under this Agreement cover the Licensed Products of each Party and its respective Grantee Entities (including Third Party Components thereof), and do not cover any activity undertaken by a Party or its Grantee Entities for the primary purpose of immunizing the products of a Third Party from claims of Infringement under (a) the Licensed Patents of Nikon, in the case of either ASML or Zeiss or their respective Grantee Entities undertaking such activity, or (b) the Licensed Patents of ASML or Zeiss, in the case of Nikon or its Grantee Entities undertaking such activity (such activity commonly known as “patent laundering”), including by (i) manufacturing activities that a Party or its Grantee Entities may undertake on behalf of a Third Party (such activity commonly known as acting as a “foundry”), (ii) with regard to Lithography Equipment and Lithography Components, the resale of Third Party products or Third Party Components (except as provided in Section 3.9.2), or (iii) with regard to Digital Cameras and Components for use in Digital Cameras, acting as a conduit for Third Party products or Third Party Components.
3.9.2Clarification as to Third Party Components. For purposes of clarification, nothing in this Section 3.9 shall limit the rights of the Parties under this Agreement to include Third Party Components in the Licensed Products of such Party or its Grantee Entities.
		
	4.
	Certain Covenants and Immunities

4.1Covenant for ASML Licensed Products.
4.1.1Nikon Licensed Patents. Nikon shall not, and shall cause other Nikon Grantor Entities not to, Sue, at any time before or after the end of the Term, any Covered Entity of any ASML Grantee Entity for Infringement of any Nikon Licensed Patent based in whole or in part on such Covered Entity’s use, importation, exportation, offer for Sale, and Sale of any ASML Licensed Product that is Sold by any ASML Grantee Entity at any time before the end of the Term (where “based in whole or in part on” means that the asserted Patent includes a claim limitation directed to, or where the Nikon Grantor Entity bringing 

the Suit contends that the limitation is met in whole or in part by, such ASML Licensed Product).
4.1.2Defensive Rights. Notwithstanding anything to the contrary in this Agreement, the covenant described in Section 4.1.1 is expressly conditioned upon the applicable Covered Entity not initiating an offensive litigation (i.e., a litigation that is not in response to any offensive Patent Infringement litigation initiated by Nikon or its Grantor Entities against such Covered Entity or its Affiliates) against any Nikon Grantor Entity for Patent Infringement with respect to Lithography Equipment or Lithography Components (other than, in each case, EUV Lithography Equipment) or any activities relating thereto (including the manufacture, use, Sale, offer for Sale, import, or export of Lithography Equipment or Lithography Components (other than, in each case, EUV Lithography Equipment) or any other activities with respect thereto described in Sections 3.2 or 3.4 hereof), and upon any such litigation such covenant shall retroactively be null and void and of no effect with respect to such Covered Entity, and subject to any limitations or constraints imposed by patent exhaustion and like principles, which are in no way limited by this Section, Nikon Grantor Entities shall be entitled to seek any remedies against such Covered Entity available under applicable Law, including with respect to past activities, but only if Nikon has notified ASML of the existence of such litigation and the Covered Entity has not taken all actions required on its part to withdraw such litigation completely within two (2) months after such notification. No litigation by a Nikon Grantor Entity against such Covered Entity prior to any such withdrawal shall constitute a breach of Section 4.1.1 by the Nikon Grantor Entity as long as the Nikon Grantor Entity takes all actions required on its part to withdraw such litigation completely within one (1) month after the Covered Entity has taken all actions required on its part to withdraw its litigation completely.
4.2Covenant for Nikon Licensed Products.
4.2.1ASML Licensed Patents. ASML shall not, and shall cause other ASML Grantor Entities not to, Sue, at any time before or after the end of the Term, any Covered Entity of any Nikon Grantee Entity for Infringement of any ASML Licensed Patent based in whole or in part on such Covered Entity’s use, importation, exportation, offer for Sale, and Sale of any Nikon Licensed Product that is Sold by any Nikon Grantee Entity at any time before the end of the Term (where “based in whole or in part on” means that the asserted Patent includes a claim limitation directed to, or where the ASML Grantor Entity bringing the Suit contends that the limitation is met in whole or in part by, such Nikon Licensed Product).
4.2.2Defensive Rights. Notwithstanding anything to the contrary in this Agreement, the covenant described in Section 4.2.1 is expressly conditioned upon the applicable Covered Entity not initiating an offensive litigation (i.e., a litigation that is not in response to any offensive Patent Infringement litigation initiated by ASML or any of its Grantor Entities against such Covered Entity or its Affiliates) against any ASML Grantor Entity for Patent Infringement with respect to Lithography Equipment, Lithography Components (other than, in each case, FPD/Large Area Substrate Lithography Equipment) or any activities relating thereto (including the manufacture, use, Sale, offer for Sale, import, or export of Lithography Equipment or Lithography Components (other than, in each case, FPD/Large Area Substrate Lithography Equipment) or any other activities with respect thereto described in Sections 3.1 hereof), and upon any such litigation such covenant shall 

retroactively be null and void and of no effect with respect to such Covered Entity, and subject to any limitations or constraints imposed by patent exhaustion and like principles, which are in no way limited by this Section, ASML Grantor Entities shall be entitled to seek any remedies against such Covered Entity available under applicable Law, including with respect to past activities, but only if ASML has notified Nikon of the existence of such litigation and the Covered Entity has not taken all actions required on its part to withdraw such litigation completely within two (2) months after such notification. No litigation by an ASML Grantor Entity against such Covered Entity prior to any such withdrawal shall constitute a breach of Section 4.2.1 by the ASML Grantor Entity as long as the ASML Grantor Entity takes all actions required on its part to withdraw such litigation completely within one (1) month after the Covered Entity has taken all actions required on its part to withdraw its litigation completely.
4.2.3Zeiss Licensed Patents. Zeiss shall not, and shall cause other Zeiss Grantor Entities not to, Sue, at any time before or after the end of the Term, any Covered Entity of any Nikon Grantee Entity for Infringement of any Zeiss Licensed Patents based in whole or in part on such Covered Entity’s use, importation, exportation, offer for Sale, and Sale of any Nikon Licensed Product that is Sold by any Nikon Grantee Entity at any time before the end of the Term (where “based in whole or in part on” means that the asserted Patent includes a claim limitation directed to, or where the Zeiss Grantor Entity bringing the Suit contends that the limitation is met in whole or in part by, such Nikon Licensed Product).
4.2.4Defensive Rights. Notwithstanding anything to the contrary in this Agreement, the covenant described in Section 4.2.3 is expressly conditioned upon the applicable Covered Entity not initiating an offensive litigation (i.e., a litigation that is not in response to any offensive Patent Infringement litigation initiated by Zeiss or its Grantor Entities against such Covered Entity or its Affiliates) against any Zeiss Grantor Entity for Patent Infringement with respect to Zeiss Lithography Components (other than Components that are solely for use in FPD/Large Area Substrate Equipment) or Zeiss Digital Cameras or any activities relating thereto (including the manufacture, use, Sale, offer for Sale, import, or export of Zeiss Lithography Components (other than Components that are solely for use in FPD/Large Area Substrate Equipment) or Zeiss Digital Cameras, or any other activities with respect thereto described in Section 3.3 hereof), and upon any such litigation such covenant shall retroactively be null and void and of no effect with respect to such Covered Entity, and subject to any limitations or constraints imposed by patent exhaustion and like principles, which are in no way limited by this Section, Zeiss Grantor Entities shall be entitled to seek any remedies against such Covered Entity available under applicable Law, including with respect to past activities, but only if Zeiss has notified Nikon of the existence of such litigation and the Covered Entity has not taken all actions required on its part to withdraw such litigation completely within two (2) months after such notification. No litigation by a Zeiss Grantor Entity against such Covered Entity prior to any such withdrawal shall constitute a breach of Section 4.2.3 by the Zeiss Grantor Entity as long as the Zeiss Grantor Entity takes all actions required on its part to withdraw such litigation completely within one (1) month after the Covered Entity has taken all actions required on its part to withdraw its litigation completely.
4.3Covenant for Zeiss Licensed Products.

4.3.1Nikon Licensed Patents. Nikon shall not, and shall cause other Nikon Grantor Entities not to, Sue, at any time before or after the end of the Term, any Covered Entity of any Zeiss Grantee Entity for Infringement of any Nikon Licensed Patent based in whole or in part on such Covered Entity’s use, importation, exportation, offer for Sale, and Sale of any Zeiss Licensed Product that is Sold by Zeiss Grantee Entities at any time before the end of the Term (where “based in whole or in part on” means that the asserted Patent includes a claim limitation directed to, or where the Nikon Grantor Entity bringing the Suit contends that the limitation is met in whole or in part by, such Zeiss Licensed Product).
4.3.2Defensive Rights. Notwithstanding anything to the contrary in this Agreement, the covenant described in Section 4.3.1 is expressly conditioned upon the applicable Covered Entity not initiating an offensive litigation (i.e., a litigation that is not in response to any offensive Patent Infringement litigation initiated by Nikon or any of its Grantor Entities against such Covered Entity or its Affiliates) against any Nikon Grantor Entity for Patent Infringement with respect to Lithography Equipment or Lithography Components (other than, in each case, EUV Lithography Equipment), or Digital Cameras, or any activities relating to any of the foregoing (including the manufacture, use, Sale, offer for Sale, import, or export of Lithography Equipment or Lithography Components (other than, in each case, EUV Lithography Equipment), or Digital Cameras, and any other activities with respect thereto described in Sections 3.2 or 3.4 hereof), and upon any such litigation such covenant shall retroactively be null and void and of no effect with respect to such Covered Entity, and subject to any limitations or constraints imposed by patent exhaustion and like principles, which are in no way limited by this Section, Nikon Grantor Entities shall be entitled to seek any remedies against such Covered Entity available under applicable Law, including with respect to past activities, but only if Nikon has notified Zeiss of the existence of such litigation and the Covered Entity has not taken all actions required on its part to withdraw such litigation completely within two (2) months after such notification. No litigation by a Nikon Grantor Entity against such Covered Entity prior to any such withdrawal shall constitute a breach of Section 4.3.1 by the Nikon Grantor Entity as long as the Nikon Grantor Entity takes all actions required on its part to withdraw such litigation completely within one (1) month after the Covered Entity has taken all actions required on its part to withdraw its litigation completely.
4.4[***]
4.4.1[***].
4.4.2[***].
4.4.3[***]. 
4.4.4[***].
4.4.5To the extent reasonably needed in order for ASML to comply with the ASML Supply Commitment, Nikon will promptly provide to ASML, or at the request of ASML to a Third Party designee of ASML subject to appropriate conditions of confidentiality and appropriate limitations on the use of such information, all information that it reasonably requires in order to fulfill the condition described in Section 4.4.4(a) above.
4.4.6[***].
4.5Supply Chain Protection.
4.5.1No Disruption of Supply.

(a)ASML and Nikon. Subject to Section 4.5.2, each of ASML and Nikon (for purposes of this Section, the “Covenanting Party”) agrees not to, and shall cause its respective Grantor Entities not to, seek injunctive relief, damages, or other remedies under their respective Licensed Patents against the other Party’s (for purposes of this Section, the “Protected Party”) or its Grantee Entities’ Component Suppliers (other than, in the case of ASML as the Covenanting Party, [***] which are addressed in Section 4.4) to the extent such remedies are based in whole or in part on the supply (including the manufacture, offer for Sale, Sale, import or export), prior to or during the Term, of Components to the Protected Party or its Grantee Entities for use in the Licensed Products of the Protected Party or its Grantee Entities; provided that, with respect to any Converted Patent Family of a Licensed Patent of the Covenanting Party or its Grantor Entities, the foregoing covenant shall be perpetual and apply to Components supplied to the Protected Party and its Grantee Entities for use in the Licensed Products of the Protected Party or its Grantee Entities at any time (including after the Term). Nothing herein shall preclude any Suit or the seeking of any remedies with respect to the direct or indirect supply of Components to any Person that is not the Protected Party or its Grantee Entity (whether or not those Components are the same as those supplied to the Protected Party or its Grantee Entities).
(b)Zeiss and Nikon. Subject to Section 4.5.2, each of Zeiss and Nikon (for purposes of this Section, the “Covenanting Party”) agrees not to, and shall cause their respective Grantor Entities not to, seek injunctive relief, damages, or other remedies under its respective Licensed Patents against the other Party’s (for purposes of this Section, the “Protected Party”) or its Grantee Entities’ Component Suppliers (including, in the case of Zeiss as the Covenanting Party, [***]) to the extent such remedies are based in whole or in part on the supply (including the manufacture, offer for Sale, Sale, import or export), prior to or during the Term, of Components to the Protected Party or its Grantee Entities for use in the Licensed Products of the Protected Party or its Grantee Entities; provided that, with respect to any Converted Patent Family of a Licensed Patent of the Covenanting Party or its Grantor Entities, the foregoing covenant shall be perpetual and apply to Components supplied to the Protected Party and its Grantee Entities for use in the Licensed Products of the Protected Party or its Grantee Entities at any time (including after the Term). Nothing herein shall preclude any Suit or the seeking of any remedies with respect to the direct or indirect supply of Components to any Person that is not the Protected Party or its Grantee Entity (whether or not those Components are the same as those supplied to the Protected Party or its Grantee Entities).
4.5.2Defensive Rights. Notwithstanding anything to the contrary in this Agreement, the covenants described in Section 4.5.1 are expressly conditioned upon the applicable Component Supplier and its Affiliates not initiating an offensive litigation (i.e., a litigation that is not in response to any offensive Patent Infringement litigation initiated by the applicable Covenanting Party or its Grantor Entities against such Component Supplier or its Affiliates) for Infringement of any Patent on the basis of the Licensed Products of such Covenanting Party (excluding Digital Cameras and all applications therefor, in the case of Nikon as the Covenanting Party and ASML as the Protected Party) against (a) the applicable Covenanting Party or its Grantor Entities, or (b) any Covered Entity of the applicable Covenanting Party or its Grantor Entities with respect to products purchased from the Covenanting Party or its Grantor Entities. Upon any such litigation the Covenanting Party’s 

covenant under Section 4.5.1 shall no longer apply with respect to such Component Supplier, and subject to any limitations or constraints imposed by patent exhaustion and like principles, which are in no way limited by this Section, such Covenanting Party and its Grantor Entities shall be entitled to seek any remedies against such Component Supplier available under applicable Law, including injunctive relief, damages, and other remedies with respect to past and future activities, but only if the Covenanting Party has notified the affected Party (i.e., the customer of such Component Supplier) of the existence of such litigation and the Component Supplier has not taken all actions required on its part to withdraw such litigation completely within one (1) month after such notification. No seeking of injunctive relief, damages, or other remedies by the Covenanting Party or its Grantor Entities against such Component Supplier for its direct or indirect supply of Components to a Protected Party or its Grantee Entities shall constitute a breach of Section 4.5.1(a) or (b), as applicable by such Covenanting Party or its Grantor Entities provided they take all actions required on their part to limit the relief sought as required by Section 4.5.1 within one (1) month after the Component Supplier has taken all actions required on its part to withdraw its litigation completely.
4.6[***].
		
	5.
	Payments

5.1Payment. ASML (or its designated Affiliate as long as it remains a Dutch entity) shall pay to Nikon the non-refundable aggregate sum of One Hundred Fifty Million Euros (€150,000,000) (“Payment”), to be payable on or before the sixtieth (60th) day after the Effective Date. If any payment is due on a day in which banks are generally closed in the jurisdiction in which the funds are to be sent or received, the payment will be deemed to be due on the next business day.
5.2Royalties.
5.2.1To Nikon. ASML shall pay to Nikon a running royalty equal to eight tenths of one percent (0.8%) of the Net Sales Price of each Immersion Lithography System Sold by ASML or any of its Grantee Entities during the Term or made during the Term and Sold after the Term (where, for the avoidance of doubt, Immersion Lithography System is deemed “made” as of the date when it passes factory accepting testing).
5.2.2To ASML. Nikon shall pay to ASML a running royalty equal to eight tenths of one percent (0.8%) of the Net Sales Price of each Immersion Lithography System Sold by Nikon or any of its Grantee Entities during the Term or made during the Term and Sold after the Term (where, for the avoidance of doubt, Immersion Lithography System is deemed “made” as of the date when it passes factory accepting testing).
5.2.3Netting of Royalty Payments. If the royalty amounts under this Section 5.2 that are owed by a Party as Payor exceed the amounts owed to that Party as Payee (such Party the “Net Payor”), based on the corresponding Quarterly Reports pursuant to Section 5.5 (such amounts being converted into the same currency based on the applicable currency exchange rate reported in The Wall Street Journal on the due date of the applicable Quarterly Reports), then the Net Payor may, upon notice to the other Party to be received no later than thirty (30) days prior to the Payment Date, set off the royalty amount owed to it against the royalty amount owed by it. Upon such set-off, both Parties payment obligations with respect to the amount so set-off shall be satisfied and discharged and the Net Payor shall pay the remainder of the royalty amount owed by it on the Payment Date.

5.2.4Non-Circumvention of Royalty.
(a)For the avoidance of doubt, the Sale by a Party or its Grantee Entities to a customer of all or substantially all of the Components of an Immersion Lithography System in a single transaction (or a series of related transactions) where such Components are not assembled in a manner that would, at the time of the first Sale of such Components to the customer, constitute an Immersion Lithography System, will nonetheless be deemed to constitute the first Sale by such Party of an Immersion Lithography System for purposes of Section 5.2 if, when those Components are first assembled by or for the customer at the customer site into a complete assembly of Lithography Equipment, such Lithography Equipment constitutes an Immersion Lithography System.
(b)Neither ASML nor its Grantee Entities will make any Sale or other conveyance, transaction or arrangement pursuant to which any Immersion Lithography System of ASML or its Grantee Entities is Sold by Zeiss or its Affiliates in any manner that circumvents the royalty obligations of ASML under Section 5.2.1.
5.2.5Taxes.
(a)Payment. The Parties acknowledge their mutual understanding that, subject to Section 5.2.5(b), no deduction or withholding of any taxes or other amounts is required under applicable Law with respect to the Payment under Section 5.1.
(b)Withholdings. Each Party owing any amount due under either or both of Sections 5.1 or 5.2 (the “Payor”) shall be entitled to withhold or cause to be withheld from each amount to the other Party (the “Payee”) such amounts on account of taxes or similar charges, if any, as are required by applicable Law, and the amount paid shall be net of any such taxes or similar charges; provided, however, that ASML, Zeiss, and Nikon shall cooperate in good faith to minimize or eliminate any such withholding, including by complying with any relevant provisions of any applicable Netherlands-Japan treaty, Netherland-Germany treaty, and/or Germany-Japan treaty (the “Treaties”). If any payment is subject to withholding, Payor, or Zeiss as a potentially deemed Payor, shall withhold the minimum amount required to be withheld (the “Withheld Amount”) and promptly file with the applicable Governmental Authority all documents required to be filed to obtain a reduction of or exemption from withholding tax (including under the Treaties), provided that Payee has provided Payor, or Zeiss as a potentially deemed Payor, with any such documents and other information required to be provided or executed by Payee (“Tax Documents”). ASML, Zeiss, and Nikon agree to fully and timely cooperate with each other in the preparation of such Tax Documents. If the Tax Documents have been timely received by Payor and filed with the applicable Governmental Authority and it has been determined, at least ten (10) business days prior to the payment due date, that payment is not subject to the withholding of income tax, then Payor shall pay to Payee the entire amount of the applicable payment on the payment due date. If such determination has not been made at least ten (10) business days prior to the payment due date, Payor shall deduct such withholding tax and pay the Withheld Amount to the applicable Governmental Authority directly on behalf of Payee, and then provide Payee with the tax receipt so that Payee can seek to claim any applicable tax credit. Payor shall also provide Payee with an original tax certificate or other such documentation as may be used by the applicable Governmental Authority evidencing such tax withholding promptly after receipt of such tax certificate or other documentation from the applicable Governmental Authority.

5.3No Interest. For the avoidance of doubt, no interest shall be payable on any payments due under this Agreement, unless non-payment is intentional (non-payment is not deemed intentional to the extent there is a good faith dispute as to the amount owed).
5.4Designees. To protect the Parties’ sensitive and competitive business information, each Payee shall designate an internationally recognized accounting firm (which may be the Payee’s generally used accounting firm) (as applicable, the Payee’s “Designee”) to receive Quarterly Reports on behalf of such Party as further described in Section 5.5.
5.5Reports and Payments. Following the Effective Date, on a quarterly basis based on the financial reporting quarter of each of ASML and Nikon during the Term and continuing thereafter as long as royalties pursuant to Section 5.2 are owed, each Payor will supply to the Payee’s Designee (a) within five (5) days after the closing of each reporting quarter the number of units of Immersion Lithography Systems Sold during the applicable reporting period (the “Preliminary Report”), and (b) within thirty (30) days after the closing of each reporting quarter, a written report setting forth in reasonably specific detail: (i) its Sales of Immersion Lithography Systems during the applicable reporting period on a per unit basis, including the customer and the date of the Sale, (ii) the gross revenues received by the Payor or its Affiliates for such Immersion Lithography System in the aggregate and on a per unit basis, (iii) the Net Sales Price for the applicable reporting period in the aggregate and on a per unit basis, and the calculation thereof, including an itemized account of all deductions to calculate the Net Sales Price on a per unit basis, (iv) the total royalties owed pursuant to Section 5.2 for the applicable reporting period, and (v) any Withheld Amounts (the “Quarterly Report”). Each such Preliminary Report and Quarterly Report will be signed and certified by an authorized representative of the reporting Party. Upon receipt of the Quarterly Report the Payee may issue an invoice for royalty payments owed, and the Payor shall make all royalty payments owed by it for the applicable reporting period (and any unpaid amounts for any previous reporting period) no later than sixty (60) days following receipt of the invoice (“Payment Date”). The Payee’s Designee may provide to the Payee only the aggregate gross revenues, the aggregate Net Sales Price, the total royalties owed and the Withheld Amounts, but not the number of units Sold, the Sales price per unit, or any customer information.
5.6Books and Records. Each Party will maintain books and records of account in sufficient detail to permit a determination of the accuracy of any report to be provided (and information to be reported) under this Agreement and the payments owed to another Party hereunder and the amount of any discrepancy for a period of at least five (5) years from the date of their origin unless the records are in dispute. If the records are in dispute, the Party whose records are disputed will keep the records until the dispute is settled.
5.7Audit. During the Term and until the second anniversary of the last Quarterly Report to be provided hereunder, each Payee (the “Auditing Party”) shall have the right to appoint an independent, internationally recognized accounting firm (but not the Auditing Party’s generally used accounting firm) reasonably acceptable to the Payor (the “Independent Auditor”) to audit the financial books and records that the Payor (the “Audited Party”) is expressly required to keep under this Agreement with respect to payments owed to the Auditing Party under Section 5.2 (the “Relevant Books and Records”). The Audited Party may require the Independent Auditor, prior to any such audit, to agree to reasonable confidentiality restrictions and the Independent Auditor shall (a) treat as confidential information of the Audited Party all information obtained in connection with such audit and (b) not disclose the same to the Auditing Party or others, except that the Independent Auditor may disclose to the Auditing Party only whether the audit revealed an 

underpayment, or an inaccuracy with respect to royalties owed pursuant to Section 5.2, and the amount of such underpayment or inaccuracy, if any. An audit shall be permitted only upon at least thirty (30) days’ prior written notice to the Audited Party, and in no event more than once during any calendar year and only during the third reporting quarter of any financial reporting year for the Party to be audited (unless an audit in any calendar year revealed an underpayment, in which case the Auditing Party may conduct one (1) additional audit in such calendar year). The Independent Auditor shall conduct the audit during normal business hours solely as necessary to confirm the accuracy of the Relevant Books and Records and any Quarterly Reports submitted by the Payor hereunder. The Independent Auditor may not be paid on a contingency fee basis and shall provide its report simultaneously to the Payor and the Payee. The Auditing Party shall be solely liable for all costs and expenses accrued in connection with such audit unless the audit reveals an underpayment of five percent (5%) or more, in which case the Audited Party shall reimburse the Auditing Party for the reasonable costs and expenses incurred for the audit. In the event the audit reveals an underpayment or inaccuracy, prompt adjustment of all unpaid amounts owed under this Agreement shall be made by the Audited Party, provided that nothing contained herein is intended to waive or limit the Audited Party’s or the Auditing Party’s right to contest the accuracy of any finding of the Independent Auditor. Preliminary Reports, Quarterly Reports, and any information obtained by the Independent Auditor are confidential information of the Party providing such reports and information and may not be used by the other Party for any purpose other than verifying payment of any amounts owed hereunder and exercising its rights under this Agreement.
5.8Other Payment Provisions. All amounts payable by a Payor hereunder shall be paid by wire transfer in Euros (if ASML is the Payor) or Japanese Yen (if Nikon is the Payor) in immediately available funds to an account as Payee may designate in writing to Payor, such notice to be received by Payor no later than two (2) months prior to the applicable date on which payment is due. Each Party shall be responsible for the proper allocation of payments made under this Agreement in its own tax filings and financial statements.

		
	6.
	Warranties and Disclaimers

6.1Authority. Each Party represents and warrants to the other Parties that (a) it has all requisite corporate power and authority to execute and deliver this Agreement and to carry out the provisions of this Agreement, and (b) the execution, delivery and performance by such Party of this Agreement have been approved by all requisite action on the part of such Party, and no other corporate proceeding on the part of such Party is necessary to authorize this Agreement.
6.2No Conflicts. Each Party represents and warrants to the other Party that (a) it has the right, and will continue during the Term to have the right, to grant and extend the licenses, releases, covenants, and other rights granted hereunder in accordance with the terms of this Agreement, and (b) such grant and extensions of licenses, releases, covenants and other rights and such Party’s execution, delivery and performance of this Agreement do not, and will not during the Term, conflict with, violate or result in any breach of any provision of any license, agreement, contract, understanding, arrangement, commitment or undertaking of any nature (whether written, oral or otherwise) to which such Party is a party.
6.3No Encumbrances With Respect To Owned Licensed Patents.
6.3.1ASML Representations. ASML hereby represents and warrants to Nikon that, except as listed on Schedule 6.3.1 hereto, and on reasonable inquiry, no Patent reasonably relevant to Nikon Licensed Products that is either solely assigned to and/or owned 

(use of the non-defined term being intentional) by, or Co-Owned by, an ASML Grantor Entity as of the Effective Date is subject to any lien, encumbrance or other restriction (including any contractual restriction such as an exclusive license) that would prevent or prohibit an ASML Grantor Entity from granting to Nikon Grantee Entities the full scope of the rights granted under Section 3.2, 3.6, 4.2.1 and 4.5.1(a) (excluding rights that employees may have in inventions that they develop during the period of, and within the scope of, their employment by an ASML Grantor Entity, such as, for example, the right to receive monetary compensation or assert preemptive rights).
6.3.2Nikon Representations. Nikon hereby represents and warrants to ASML and Zeiss that, except as listed on Schedule 6.3.2 hereto, and on reasonable inquiry, no Patent reasonably relevant to the ASML Licensed Products or Zeiss Licensed Products that is either solely assigned to and/or owned (use of the non-defined term being intentional) by, or Co-Owned by, a Nikon Grantor Entity as of the Effective Date is subject to any lien, encumbrance or other restriction (including any contractual restriction such as an exclusive license) that would prevent or prohibit a Nikon Grantor Entity from granting to ASML Grantee Entities and Zeiss Grantee Entities the full scope of the rights granted under Sections 3.1, 3.3, 3.6, 4.1.1, 4.3.1 or 4.5.1 (excluding rights that employees may have in inventions that they develop during the period of, and within the scope of, their employment by a Nikon Grantor Entity, such as, for example, the right to receive monetary compensation or assert preemptive rights).
6.3.3Zeiss Representations. Each of Zeiss and Carl Zeiss hereby represents and warrants to Nikon that, except as listed on Schedule 6.3.3 hereto, and on reasonable inquiry, no Patent reasonably relevant to Nikon Licensed Products that is either solely assigned to and/or owned (use of the non-defined term being intentional) by, or Co-Owned by, a Zeiss Grantor Entity as of the Effective Date is subject to any lien, encumbrance or other restriction (including any contractual restriction such as an exclusive license) that would prevent or prohibit a Zeiss Grantor Entity from granting to Nikon Grantee Entities the full scope of the rights granted under Section 3.4, 3.6, 4.2.3, or 4.5.1(b) (excluding rights that employees may have in inventions that they develop during the period of, and within the scope of, their employment by a Zeiss Grantor Entity, such as, for example, the right to receive monetary compensation or assert preemptive rights).
6.4No Transfers or Encumbrances in Anticipation of Litigation or Execution. Each of ASML and Zeiss, on the one hand, and Nikon, on the other hand, hereby represents to the other, as of the Effective Date, that no ASML Grantor Entity, Zeiss Grantor Entity, or Nikon Grantor Entity, as applicable, has (a) transferred or assigned any ownership interest in any Patents to any Third Party, or encumbered any Patents in a manner that would prevent or prohibit such Party or its Affiliates from granting the full scope of the rights granted hereunder, or (b) entered into any transaction prior to the Effective Date that would be in breach of Section 3.8 if entered into after the Effective Date, in each case in anticipation of Patent litigation with another Party or in anticipation of the settlement of the Pending Proceedings or the execution of this Agreement.
6.5No Circumvention.
6.5.1Each of ASML and Zeiss, on the one hand, and Nikon, on the other hand, agrees that, (a) during the Term, and (b) with respect to Post-Term Limitations, after the Term, neither it nor its Affiliates shall initiate any corporate reorganization, merger, spinoff, restructuring, or other transaction that has the foreseeable effect of excluding Patents 

that would be Licensed Patents absent such transaction from the scope of the Licensed Patents of such Party. For the avoidance of doubt, the foregoing shall not preclude bona fide corporate divestitures of any Affiliate or business of a Party or its Affiliates.
6.5.2Each Party represents, warrants and covenants that it shall not, and shall ensure that its Grantee Entities shall not, participate in the creation or acquisition of any Subsidiary where the primary purpose of such creation or acquisition is to extend the benefits of this Agreement to a Third Party and agree that any such attempt to extend such benefits shall be null and void.
6.6Right to Grant Licenses. Each of ASML, Carl Zeiss and Zeiss, on the one hand, and Nikon, on the other hand, represents and warrants to the other that it has the right to grant and extend all licenses, releases, covenants and other rights granted or extended or purported to be granted or extended by such Party (or Carl Zeiss, as applicable) with respect to the Licensed Patents of such Party (or Carl Zeiss, as applicable), including all such rights on behalf of all other Grantor Entities of such Party (or Carl Zeiss, as applicable). Failure by a Party’s (or Carl Zeiss’s) Grantor Entity to comply with any provision of this Agreement (including any license, release, covenant, or other right granted or extended under this Agreement) shall constitute a breach of this Agreement by that Party (or Carl Zeiss, as applicable).
6.7Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES (AND EACH PARTY HEREBY EXPRESSLY DISCLAIMS), WITH RESPECT TO THIS AGREEMENT, ANY REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT, AND ANY WARRANTIES THAT MAY ARISE FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE.

		
	7.
	Limitation of Liability

TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT SHALL A PARTY HERETO BE LIABLE TO ANOTHER PARTY HERETO UNDER ANY LEGAL THEORY FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR ANY DAMAGES FOR LOSS OF PROFITS, REVENUE OR BUSINESS, ARISING OUT OF ANY BREACH OF THIS AGREEMENT BY SUCH PARTY, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR ANY FINES, PENALTIES, OR LEVIES ASSESSED AGAINST THE OTHER PARTY BY ANY GOVERNMENTAL AUTHORITY.
		
	8.
	Term And Termination

8.1Term of Agreement. This Agreement will be effective as of the Effective Date, and except as expressly set forth in Section 8.2, will continue in full force and effect until the end of the Term, after which it will expire, subject to Sections 8.2.1 and 8.5. Except as expressly set forth in Section 8.2.4, no Party shall have the right to terminate this Agreement, any of its obligations hereunder, or any of the licenses, releases, covenants, or other rights granted or extended by such Party hereunder, notwithstanding any breach of this Agreement other than non-payment and failure to cure such non-payment as set forth in Section 8.2.4.
8.2Expiration/Termination of Licenses.

8.2.1Effect of Expiration of Term. Upon the expiration of the Term, (a) the licenses and rights granted in Sections 3.1 through 3.4 shall expire except as provided in clauses (b) and (c) immediately following this clause (a); (b) the licenses in Sections 3.1 through 3.4 shall become perpetual with respect to, and only with respect to, any Patents included in any Converted Patent Family and shall survive with respect to, and only with respect to, each such Patent until the expiration of such Patent; (c) the licenses in Sections 3.1 through 3.4 shall continue with respect to Term-Extended Patents as set forth in Section 8.2.3; (d) the Post-Term Limitations shall survive as set forth in Section 8.2.2 (including with respect to Covered Entities, Component Suppliers, [***] as provided in Sections 8.2.2(c), 8.2.2(d), and 8.2.2(e)), (e) the covenants under Sections 4.1, 4.2, 4.3, 4.4 and 4.5 shall continue as provided in those Sections, provided, however, that the covenants under Sections 4.4.1 and 4.4.6 shall survive solely with respect to [***] during the Term, subject to Section 8.2.2(e), (f) the covenants under Section 3.7 shall continue as provided in that Section and to the extent provided in Section 3.6.1(b) (with respect to Initially Designated Patents and Subsequently Designated Patents) with respect to, and only with respect to, the Post-Term Limitations, and (g) the releases under Section 2.1 shall survive and remain effective in perpetuity.
8.2.2Post-Term Limitations.
(a)Post-Term Limitations Between ASML and Nikon. Following the expiration of the Term, as between ASML and Nikon, remedies for Infringement of each Party’s or its Grantor Entities’ Post-Term Patents by the other Party’s or its Grantee Entities’ Licensed Products shall be limited to damages in the form of a reasonable royalty applied against a royalty base that is apportioned to reflect the value of such Licensed Product(s) attributable to the patented features, and exclude from the base any value attributable to unpatented features, as determined by the court. Neither ASML nor Nikon may seek, and each of ASML and Nikon shall cause its respective Grantor Entities not to seek, an injunction or exclusion order or similar relief under such Party’s or its Grantor Entities’ Post-Term Patents with respect to activities and products of such other Party or its Grantee Entities that would have been licensed or subject to a covenant not to Sue under this Agreement during the Term if such activities had occurred or products had been Sold during the Term (the “A-N Post-Term Limitations”).
(b)Post-Term Limitations Between Zeiss and Nikon. Following the expiration of the Term, as between Zeiss and Nikon, remedies for Infringement of each Party’s or its Grantor Entities’ Post-Term Patents by the other Party’s or its Grantee Entities’ Licensed Products shall be limited to damages in the form of a reasonable royalty applied against a royalty base that is apportioned to reflect the value of such Licensed Product(s) attributable to the patented features, and exclude from the base any value attributable to unpatented features, as determined by the court. Neither Zeiss nor Nikon may seek, and each of Zeiss and Nikon shall cause its respective Grantor Entities not to seek, an injunction or exclusion order or similar relief under such Party’s or its Grantor Entities’ Post-Term Patents with respect to activities and products of the other Party or its Grantee Entities that would have been licensed or subject to a covenant not to Sue under this Agreement during the Term if such activities had occurred or products had been Sold during the Term (the “Z-N Post-Term Limitations”, and together with the A-N Post-Term Limitations, the “Post-Term Limitations”).

(c)Covered Entities. To the extent that a Suit against a Covered Entity would be barred under Sections 4.1.1, 4.2.1, 4.2.3 or 4.3.1, as applicable, with respect to Licensed Products Sold during the Term, the Post-Term Limitations shall also apply to any Suit against a Covered Entity with respect to Licensed Products Sold after the Term, subject to the defensive rights pursuant to Sections 4.1.2, 4.2.2, 4.2.4 or 4.3.2, as applicable.
(d)Component Suppliers. To the extent that seeking a remedy against a Component Supplier would breach the terms of Section 4.5.1 with respect to the supply (including the manufacture, offer for Sale, Sale, import or export), during the Term, of Components to the applicable Protected Party (as defined in Section 4.5.1) or its Grantee Entities for use in the Licensed Products of such Protected Party or its Grantee Entities, the supply (including the manufacture, offer for Sale, Sale, import or export), after the Term, of Components to such Protected Party or its Grantee Entities for use in the Licensed Products of such Protected Party or its Grantee Entities, shall, subject to the defensive rights pursuant to Section 4.5.2, be subject to the following post-term limitations:
(i)the remedies for Infringement of each Covenanting Party’s (as defined in Section 4.5.1) or its Grantor Entities’ Post-Term Patents by such activities or Components shall be limited to damages in the form of a reasonable royalty applied against a royalty base that is apportioned to reflect the value of such Components attributable to the patented features, and exclude from the base any value attributable to unpatented features, as determined
by any court of competent jurisdiction, and
(ii)no Covenanting Party may seek, and each Covenanting Party shall cause its Grantor Entities not to seek, an injunction or exclusion order or similar relief under such Covenanting Party’s or its Grantor Entities’ Post-Term Patents with respect to such activities or Components.
(e)[***].
(f)General Terms. The Parties agree that determinations as to Infringement of any Post-Term Patents by any Licensed Products, all defenses to a claim of Infringement including validity, any such reasonable royalty in the event liability is found, as well as any dispute as to whether any Other Patent is to be deemed to be included within a Converted Patent Family pursuant to Section 3.6.3, in each case, to the extent subject or potentially subject to the Post-Term Limitations (collectively, a “Post-Term Limitation Dispute”), are to be made exclusively by a court to be mutually agreed by the Parties within sixty (60) days after the Effective Date (and absent such agreement, to be determined by the Designated Neutral with input from each Party taking into consideration principles of efficiency, speed and fairness), such agreement to include provisions addressing issues of applicable patent law for the Post-Term Limitation Dispute. For clarity, (i) the Post-Term Limitations only apply to Post-Term Patents, and (ii) this Section 8.2.2(f) does not apply to the post-term limitations described in Sections 8.2.2(c) or 8.2.2(d).
8.2.3US Term Extensions. To the extent that any Licensed Patent or Restricted Patent expires outside of the United States prior to the expiration of the Term (“Foreign Patent”), but due to an extension of the patent term in the United States for any 

reason, one or more Licensed Patents or Restricted Patents in the United States that is a Related Patent to such Foreign Patent expires after the expiration of the Term (“Term-Extended Patents”), such Term-Extended Patents shall be deemed licensed pursuant to Sections 3.1 through 3.4, as applicable, and subject to all covenants under Sections 3.7 and 4, as applicable, through the expiration of the extended United States term.
8.2.4Non-Payment of Payment. If ASML fails to pay to Nikon the Payment set forth in Section 5.1 on the due dates thereof, then Nikon shall provide written notice of such non-payment to both ASML and Zeiss. If Nikon is not paid all delinquent amounts identified in such notice within forty-five (45) days after Nikon’s written notice of such non-payment, then Nikon shall have the right to terminate the licenses and covenants granted or extended to the ASML Grantee Entities, the Zeiss Grantee Entities and their respective Covered Entities in Sections 3 and 4. For the avoidance of doubt, no termination of such licenses and covenants shall terminate or otherwise affect the licenses and covenants granted to the Nikon Grantee Entities and their respective Covered Entities in Sections 3 and 4. Notwithstanding anything to the contrary in this Section 8.2.4, once all payments set forth in Section 5.1 have been paid to Nikon in full, Nikon shall have no right to terminate any of the licenses, releases, covenants and other rights granted by Nikon to the ASML Grantee Entities or Zeiss Grantee Entities hereunder. For the avoidance of doubt, this Section 8.2.4 does not apply to any payments due under Section 5.2.
8.3Change of Status of Grantor Entities; Indemnification.
8.3.1Effect of Change of Status. If any Person ceases to be a Nikon Grantor Entity, ASML Grantor Entity, or Zeiss Grantor Entity, as applicable (“Change of Status”), (a) if such Person is a Grantee Entity, the licenses, releases, covenants, and other rights granted or extended to such Person, and the Subsidiaries of such Person under Sections 3 and 4 shall immediately terminate upon the consummation of such Change of Status, without limiting the covenant, as provided in Sections 4.1, 4.2 and 4.3, as applicable, with respect to Covered Entities of such Grantee Party but only with respect to Licensed Products Sold prior to the date of such termination, and (b) the licenses, releases, covenants, and other rights granted or extended in this Agreement under the Licensed Patents and Restricted Patents of such Person (and any Persons controlled by such entity, within the meaning of Section 1.1.3) will remain in effect, in accordance with the terms and conditions of this Agreement, with respect to those Licensed Patents that have an Effective Application Date prior to the consummation of such Change of Status (including, for clarity, all Licensed Patents that were Licensable by such Grantor Entity or any Person controlled by such Grantor Entity prior to the date such entity undergoes a Change of Status), but not with regard to any Patents of such Person that have an Effective Application Date after the consummation of such Change of Status.
8.3.2Indemnification. In addition to any other remedies that may be available under this Agreement, each of ASML and Zeiss, on the one hand, and Nikon, on the other hand (each, an “Indemnifying Party”) agrees to indemnify and hold harmless the other Party or Parties and its or their respective Grantee Entities (the “Indemnified Parties”) against any and all losses, claims, damages and expenses (including reasonable and necessary attorney’s fees) to the extent that any such losses, claims, damages and expenses are due to (a) any Suit by any Grantor Entity of such Indemnifying Party asserting patent Infringement against any Indemnified Party or any of its Covered Entities or Component Suppliers that 

would have been precluded by (or that would have constituted a violation of) the licenses, releases, covenants, and other rights granted or extended under this Agreement had such Grantor Entity been bound by all of the terms of this Agreement, (b) any failure of the Indemnifying Party to comply with the terms and conditions of Section 8.3.1 with respect any Grantor Entity that undergoes a Change of Status, or (c) any Suit by any owner of a Reverted Patent asserting patent Infringement against any Indemnified Party or any of its Covered Entities or Component Suppliers that would have been precluded by (or that would have constituted a violation of) the licenses, releases, covenants, and other rights granted or extended under this Agreement had such owner of such Reverted Patent been bound by all of the terms of this Agreement.
8.4Continuing Liability. The expiration of this Agreement shall not release any Party from any liability, obligation or agreement which has already accrued under this Agreement at the time of such expiration. The expiration of this Agreement shall not constitute a waiver or release of, or otherwise be deemed to prejudice or adversely affect, any rights, remedies or claims, whether for damages or otherwise, which a Party may have hereunder, at law or otherwise.
8.5Survival. In addition to the rights that expressly survive as set forth in Section 8.2.1, the provisions of Sections 1; 2; 3.6, 3.7.1 (only with respect to Post-Term Limitations as provided therein); 3.8.1 (only as provided in the last sentence thereof); 3.9 (only as to Converted Patents); 5.5; 5.6, and 5.7 (only as provided therein); 6; 7; 8.2.1; 8.2.2; 8.2.3; 8.3; 8.4; this 8.5; 9; and 10, and any other sections of this Agreement to the extent expressly provided herein, shall survive, to the extent applicable, the expiration of the Term.

		
	9.
	Change of Control; Assignment

9.1Sale of Business. Each Party and Carl Zeiss (each individually, for purposes of this Section 9, the “Assignor”), upon written notice (to Nikon, in the case of an assignment by ASML, Carl Zeiss, or Zeiss, or to ASML, Carl Zeiss and Zeiss, in the case of an assignment by Nikon), may assign this Agreement, together with all of its respective rights and obligations hereunder, to any Third Party that acquires all or substantially all of the assets of the business of manufacturing and selling Licensed Products of the Assignor and its Grantee Entities (including all research and development assets and Patents reasonably related to such business), as applicable, provided, however, that the Assignor and its Grantor Entities shall remain liable for the performance of all of its obligations under this Agreement. In the event of a sale by (a) Nikon and its Grantee Entities or (b) Carl Zeiss or Zeiss and their respective Grantee Entities, in each case, of all or substantially all of the assets of the business of manufacturing and selling (i) Lithography Equipment and Lithography Components, or (ii) Digital Cameras to any Third Party (in each case including all or substantially all research and development assets and Patents reasonably related to such business), Nikon, Carl Zeiss, or Zeiss (as applicable) may assign this Agreement in part to such Third Party, to the extent it pertains to the Lithography Equipment and Lithography Components business or to the Digital Camera business, whichever of the two is divested by Nikon and its Affiliates or Carl Zeiss or Zeiss and their respective Affiliates, as applicable, and retain this Agreement in part, to the extent it pertains to the non-divested of the two businesses, provided, however, that (A) Nikon, or Zeiss and Carl Zeiss, as applicable, shall remain liable for the performance of all of its respective obligations under this Agreement (including all licenses, releases, covenants, and other rights granted or extended by or on behalf of the Assignor under this Agreement), and (B) the Third Party assignee (such assignee or the Acquirer in the event of an assignment of this Agreement to the 

Acquirer pursuant to Section 9.2, as applicable, the “Assignee”) agrees to be bound by all of the terms and conditions of this Agreement, as if it were the original Nikon (or Zeiss and Carl Zeiss) party to this Agreement.
9.2Change of Control of a Party. If either ASML or Zeiss, on the one hand, or Nikon, on the other hand (“Selling Party”) undergoes a Change of Control, then the Selling Party shall have a right, upon written notice to Nikon, in the case of ASML or Zeiss as the Selling Party, or each of ASML and Zeiss, in the case of Nikon as the Selling Party (any such Party or the non-assigning Party (or Carl Zeiss, as applicable) under Section 9.1, as applicable, the “Non-Selling Party” or “Non-Selling Parties”, as applicable), to assign its obligations and licenses, releases, covenants, and other rights to the Acquirer, as between such Selling Party and such Non-Selling Party under this Agreement, in each case in connection with such Change of Control, provided, however, that (a) the Selling Party shall remain liable for the performance of all of its obligations under this Agreement (including all licenses, releases, covenants, and other rights granted or extended by or on behalf of Assignor under this Agreement), and (b) the Acquirer agrees to be bound by this Agreement.
9.3Effect of Assignment and Change of Control. In the event of an assignment pursuant to Section 9.1 or Section 9.2 or a Change of Control as described in Section 9.2, the terms and conditions of this Section 9.3 will apply. [***].
9.3.1Grants to Selling Party. Notwithstanding anything herein to the contrary, effective as of the date of such assignment or Change of Control:
(a)License Limitations. The licenses, releases, covenants, and other rights granted or extended by the Non-Selling Party and its Grantor Entities to (i) the Selling Party and its Grantee Entities (in the case of Section 9.2) or the Assignee and its Grantee Entities (in the case of Section 9.1 or Section 9.2), as applicable, and (ii) their respective Covered Entities under Section 4 hereof shall be limited to (A) Licensed Products of the Selling Party or the Assignor, as applicable, and/or its respective Grantee Entities Sold or available for sale by the Selling Party or the Assignor, as applicable, and/or its respective Grantee Entities prior to the date of the Change of Control or assignment, as applicable, and the modifications and improvements of such products thereafter, regardless of when developed, provided that the licenses, releases, covenants, and other rights will not extend to any other product, business or technology of the Acquirer or Assignee, as applicable, or any of its respective Affiliates, and (B) the Annual Sales Volume (as defined below). The term “Annual Sales Volume” means the gross revenue of the Selling Party or the Assignor, as applicable, and its respective Grantee Entities for Sales of Licensed Products of the Selling Party or the Assignor, as applicable, that are divested by the Selling Party or the Assignor, as applicable, to the Assignee in connection with the assignment to the Assignee pursuant to Section 9.1 or 9.2, or the Licensed Products of the Selling Party or the Assignor, as applicable, if this Agreement is retained by the Selling Party or the Assignor, as applicable, in the case of a Change of Control pursuant to Section 9.2 above, as applicable, over the one (1) year period prior to the date of such assignment or Change of Control, as applicable, provided that such gross revenue will be deemed to increase at an average growth rate (calculated as the average year-over-year growth rate of such sales volume, over the three (3) year period preceding the date of the assignment or Change of Control, as applicable), which volume and growth rate will be certified by the Selling Party or Assignee, as applicable, promptly following the assignment or Change of Control, as applicable, and for each annual period (or pro rata 

portion thereof) during the remainder of the Term and the period (if applicable, pursuant to Section 9.3.1(b)) that the Post-Term Limitations, granting or extending licenses, releases, covenants, and other rights in favor of the Selling Party or Assignee, as applicable, and its Grantee Entities, remain in effect; and
(b)Right to Bilaterally Terminate Post-Term Limitations. At any time on or before the one hundred and twentieth (120th) day after written notice to the Non-Selling Party or Parties by the Selling Party or, as applicable, the Assignee or the Acquirer, of such assignment or Change of Control, as applicable, each Non-Selling Party shall have the right (in its sole discretion) upon written notice to the Selling Party or, as applicable, the Assignee or the Acquirer, to terminate all obligations, covenants and other rights arising under Section 8.2.2 between (i) such Non-Selling Party and its Grantor Entities, on the one hand, and the Selling Party and its Grantee Entities (and, as applicable, the Assignee and its Grantee Entities or the Acquirer and its Affiliates), on the other hand, and (ii) such Non-Selling Party and its Grantee Entities, on the one hand, and such Selling Party and its Grantor Entities (including, as applicable, the Assignee and its Grantor Entities, or the Acquirer and its Affiliates), on the other hand (including, in the case of clauses (i) and (ii), all rights and covenants of their respective Covered Entities and Component Suppliers arising under Section 8.2.2).
9.3.2Grants to Non-Selling Party. Except as provided in Section 9.3.1(b), the licenses, releases, covenants, and other rights granted or extended by the Selling Party and its Grantor Entities (including the Acquirer and its Affiliates, or the Assignee and its Grantor Entities, as applicable) under this Agreement will remain in full force and effect, in accordance with the terms and conditions of this Agreement.
9.4No Other Assignment. Except as permitted under Section 9.1 or 9.2, neither ASML or Zeiss, on the one hand, nor Nikon, on the other hand, may assign, delegate, or otherwise transfer any of its rights or obligations under this Agreement to any other Person without the prior written consent of the other Party. Any purported or attempted assignment, delegation or other transfer of any rights or obligations under this Agreement in contravention of the foregoing sentence shall be null and void.
9.5Transfer of Patents. In the event of any sale, assignment, transfer, exclusive license, or other conveyance of any ownership interest by a Party or its Grantor Entities (the “Transferor”) in the ASML Licensed Patents or Restricted Patents of an ASML Grantor Entity, or the Zeiss Licensed Patents or Restricted Patents of a Zeiss Grantor Entity, on the one hand, or the Nikon Licensed Patents or Restricted Patents of a Nikon Grantor Entity, on the other hand, that are reasonably relevant to the Licensed Products of the other Party or Parties as applicable (“Transfer”), such Transferor shall (a) ensure that the purchaser, assignee, transferee, or exclusive licensee (“Transferee”) shall be bound by all applicable licenses, releases, covenants, and other rights (including Section 3.6 (Conversion of Licensed Patents)), and restrictions contained in this Agreement, (b) require that such Transferee agree in writing prior to any such Transfer to be bound by all licenses, covenants, and other rights (including Section 3.6 (Conversion of Licensed Patents)), and other restrictions hereunder, and (c) ensure that such Transfer does not affect the Transferor’s right and ability to perform all of its obligations under this Agreement. In no event shall such Transferor be relieved or excused from any of its obligations under this Agreement as a result of such Transfer, and Transferor shall expressly reserve and retain the right to grant or extend all licenses, releases, covenants, and other rights that may be required to be granted or extended by such Transferor under this Agreement including pursuant to Section 3.6 (Conversion of Licensed 

Patents). Notwithstanding anything to the contrary contained in Section 10.12, each Party shall have the right to file this Agreement, or any summary or translation hereof or thereof with any patent office or other Governmental Authority in order to notify potential Transferees of the existence and terms of this Agreement as it relates to any Licensed Patents proposed to be Transferred, provided that prior to any such filing the other Parties shall be given an opportunity to propose reasonable redactions to be made to the filed version of this Agreement and the Parties shall cooperate with respect to agreeing on such redactions. Each Party shall provide all reasonable cooperation requested by the filing Party, at the filing Party’s expense, including the execution, delivery and filing of any applicable instruments, notifications, forms, affidavits and the like.
9.6Successors and Assigns. Subject to the other provisions of this Section 9, this Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns.
		
	10.
	Miscellaneous

10.1Limitation. Nothing contained in this Agreement shall be construed as:
10.1.1a warranty or representation by a Party as to the validity, enforceability or scope of any Patents; or
10.1.2conferring upon any Person any license, right or immunities under any Patents except the licenses, rights and immunities expressly granted hereunder; or
10.1.3a warranty or representation that any acts licensed hereunder will be free from Infringement or other violation of Patents, copyrights, mask work rights, trade secrets or other intellectual property rights, other than Infringement of those Licensed Patents under which, and for the time and to the extent, licenses, rights and immunities have been expressly granted hereunder; or
10.1.4an obligation of a Party or its Affiliates to file, maintain or amend any Patent, secure any Patent or maintain any Patent in force, all of such decisions being in such Party’s and its Affiliates’ sole discretion without requiring notice or consent by another Party (and should such consent be required under applicable Law, the other Party hereby grants it); or
10.1.5an arrangement to Sue Third Parties for Infringement of any Patent or other intellectual property right or conferring any right to Sue Third Parties for Infringement of any Patent or other intellectual property right.
10.2Relationship of the Parties. In the exercise of their respective rights, and the performance of their respective obligations hereunder, the Parties are and will remain independent contractors. Nothing in this Agreement will be construed to constitute the Parties as partners, or principal and agent for any purpose whatsoever. No Party will bind, or attempt to bind, another Party to any contract or other obligation, and no Party will represent to any Third Party that it is authorized to act on behalf of another Party.
10.3Governing Law. Notwithstanding that the Parties may choose different Law(s) to govern Post-Term Limitation Dispute(s) pursuant to Section 8.2.2(f), this Agreement will otherwise be governed by and construed in accordance with the laws of the State of New York, United States of America (without application of any choice or conflicts of laws rules or principles that would require the application of the laws of any other jurisdiction).
10.4Dispute Resolution.
10.4.1Negotiation. The Parties agree to use their good faith efforts to resolve any controversy, claim or dispute arising out of or relating to this Agreement or the breach 

or interpretation hereof (but excluding any Post-Term Limitation Dispute which is governed by Section 8.2.2) (a “Dispute”) by negotiation, without recourse to the formal dispute resolution procedures set forth in this Agreement. If a Party gives written notice that it invokes the right to negotiation proceedings pursuant to this section, such good faith efforts shall include at minimum, without limitation, discussion and negotiation at which executives having authority to settle the Dispute are present and participating.
10.4.2Non-Binding Mediation. The Parties hereby agree that any controversy, claim or dispute arising out of or relating to this Agreement or the breach or interpretation hereof (but excluding any Post-Term Limitation Dispute which is governed by Section 8.2.2) shall first be submitted by the Parties to non-binding mediation by the Designated Neutral to be administered by JAMS. Each Party will bear its own expenses, and those of its counsel and other advisors, in connection with any such mediation. The mediation shall be conducted at a location within the United States to be determined by the mutual agreement of the Parties, taking into consideration the convenience of the Designated Neutral, and if the Parties cannot timely agree upon any such location, then at a location to be determined by the Designated Neutral. The language of the mediation shall be English.
10.4.3Designated Neutral. If the Designated Neutral is unable or unwilling to serve as the mediator or arbitrator pursuant to this Section 10.4, the Parties shall jointly designate a substitute of comparable experience to serve as Designated Neutral. If the Parties fail to agree on an alternative Designated Neutral within ten (10) days, the Designated Neutral will be appointed by JAMS.
10.4.4Arbitration. In the event that the Parties are unable to resolve the Dispute by mediation as described in Section 10.4.2, which any Party involved in such Dispute may determine at any time, but in any case no less than thirty (30) days after the initiation of such mediation, any such Dispute shall be resolved and finally determined by arbitration in accordance with the JAMS International Arbitration Rules. The arbitration will be administered by JAMS. The Tribunal (as defined in the JAMS International Arbitration Rules) will consist of three arbitrators, one of which shall be the Designated Neutral. The place of arbitration will be New York, New York. The language of the arbitration will be English. The arbitration proceeding and the award, including the hearing, shall be confidential. The fees of the arbitrator and the administrative fees of JAMS will be borne equally by the Parties involved in the dispute. Judgment on any award or order rendered in the arbitration may be entered in any court of competent jurisdiction. Notwithstanding the foregoing, a Party may seek to obtain or enforce temporary injunctive relief or other provisional remedies in any court of competent jurisdiction to the extent permitted by this Agreement. The parties acknowledge that this Agreement evidences a transaction involving interstate commerce. Notwithstanding the provision with respect to applicable substantive law in Section 10.3 above, any arbitration conducted pursuant to the terms of this Agreement shall be governed by the Federal Arbitration Act (9 U.S.C. Sections 1-16).
10.5Language. This Agreement is in the English language only, which language shall be controlling in all respects, and all versions hereof in any other language shall be for accommodation only and shall not be binding upon the Parties. All communications and notices to be made or given pursuant to this Agreement shall be in the English language.
10.6Entire Agreement; Amendment; Waiver. This Agreement (including the Schedules hereto) constitutes the full and entire understanding and agreement among the Parties 

and Carl Zeiss with regard to the subject matter hereof, and supersede any communications, representations, understandings and agreements (including the MOU), either oral or written, among the Parties and Carl Zeiss prior to, but not on, the date hereof, with respect to such subject matter; provided that nothing herein is intended to supersede or modify the 2004 Agreements, which shall remain in full force and effect in accordance with their respective terms and conditions; provided further that the foregoing is not intended to limit the releases set forth in Section 2.1. This Agreement may not be altered or amended except by a written instrument signed by authorized legal representatives of all Parties and Carl Zeiss. Any waiver of the provisions of this Agreement or of a Party’s or Carl Zeiss’s rights or remedies under this Agreement must be in writing to be effective. Failure, neglect or delay by a Party or Carl Zeiss to enforce the provisions of this Agreement or its rights or remedies at any time will not be construed and will not be deemed to be a waiver of such Party’s or Carl Zeiss’s rights under this Agreement and will not in any way affect the validity of the whole or any part of this Agreement or prejudice such Party’s or Carl Zeiss’s right to take subsequent action. No single or partial exercise of any right, power or privilege granted under this Agreement shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Except as expressly set forth in this Agreement, the rights and remedies provided in this Agreement are cumulative and are not exclusive of any rights or remedies provided by law or in any other agreement among the Parties and Carl Zeiss.
10.7Notices and Other Communications. All notices required or permitted under this Agreement shall refer to this Agreement and will be deemed given: (a) when delivered personally; (b) when sent by confirmed facsimile; and (c) three (3) business days after deposit with an internationally recognized commercial overnight carrier specifying next-day delivery, with written verification of receipt. If notices are given pursuant to clauses (a), (b), or (c) of this Section 10.7, the notifying Party (or Carl Zeiss, as applicable) shall in addition give notice by e-mail. All such notices, requests, demands and other communications shall be addressed as follows:
If to Nikon:
Nikon Corporation
Shinagawa Intercity Tower C
2-15-3, Konan
Minato-ku, Tokyo 108-6290,
Japan
[***]
With a copy to (which shall not constitute notice):
Morrison & Foerster LLP
425 Market Street
San Francisco, CA 94105
Attn: Jack Londen and Rufus Pichler
[***]
If to ASML:
ASML Holding N.V.
De Run 6501
5504 DR Veldhoven

The Netherlands
Attn: General Counsel
[***]
With a copy to (which shall not constitute notice):
Wilmer Cutler Pickering Hale and Dorr LLP
350 S Grand Ave #2100
Los Angeles, CA 90071
USA
Attn: James M. Dowd
[***]
and
Sullivan & Cromwell LLP
1870 Embarcadero Road
Palo Alto, CA 94305
USA
Attn: Nader A. Mousavi
[***]
and
Hoyng Rokh Monegier LLP
Amstelplein 1
1096 HA Amsterdam
The Netherlands
Attn: Willem Hoyng and Theo Blomme
[***]
If to Zeiss:
Carl Zeiss SMT GmbH
Rudolf-Eber-Strasse 2
73447 Oberkochen
Germany
Attn: CEO
[***]
With a copy to (which shall not constitute notice):
Fish & Richardson P.C.
One Marina Park Drive
Boston, MA, 02110
Attn: Kurt Glitzenstein and Marc Wefers
[***]
If to Carl Zeiss:
Carl Zeiss AG
Carl-Zeiss-Strasse 22

73447 Oberkochen
Germany
Attn: CEO
[***]
With a copy to (which shall not constitute notice):
Fish & Richardson P.C.
One Marina Park Drive
Boston, MA, 02110
Attn: Kurt Glitzenstein and Marc Wefers
[***]
or to such other address or facsimile number as a Party may have specified to the other Parties in writing delivered in accordance with this Section 10.7.
10.8Expenses. Except as otherwise expressly set forth in this Agreement or otherwise as between and among ASML, Zeiss, and Carl Zeiss, each Party will bear its own costs and expenses, including fees and expenses of legal counsel and other representatives used or hired in connection with the Pending Proceedings and transactions described in this Agreement, and no Party nor Carl Zeiss will have any obligation to pay or reimburse any cost or expense to any other Party or Carl Zeiss. ASML, Carl Zeiss, and Zeiss collectively as against Nikon, and Nikon as against ASML, Carl Zeiss, and Zeiss individually and collectively, in all cases including their respective counsel, hereby waive any outstanding claim for fees and/or costs in connection with, arising out of, or relating to the Pending Proceedings. Further, for the avoidance of doubt, no Party nor Carl Zeiss will be obligated to return or pay back any attorneys’ fees, expenses or costs that have previously been paid or reimbursed in connection with any of the Pending Proceedings.
10.9Severability. If any provision in this Agreement is found or held to be invalid or unenforceable, then the meaning of such provision will be construed, to the extent feasible, so as to render the provision enforceable and still achieve the Parties’ intent in entering into this Agreement, and if no feasible interpretation would save such provision, it will be severed from the remainder of this Agreement, which will remain in full force and effect. In such event, the Parties will use all reasonable efforts to negotiate, in good faith, a substitute, valid and enforceable provision or agreement which most nearly effects the Parties’ intent in entering into this Agreement.
10.10Construction. This Agreement shall be deemed to have been drafted by all Parties and, in the event of a dispute, no Party shall be entitled to claim that any provision should be construed against another Party by reason of the fact that it was drafted by such other Party.
10.11Execution. This Agreement may be executed in counterparts, each of which so executed will be deemed to be an original and such counterparts together will constitute one and the same agreement. Execution and delivery of this Agreement by exchange of facsimile copies bearing the facsimile signature of a Party shall constitute a valid and binding execution and delivery of this Agreement by such Party.
10.12Confidentiality of Terms. No Party shall (and shall ensure that none of its Affiliates and its and their respective agents, representatives or attorneys shall) disclose the terms of this Agreement to any Third Parties, except that each Party may disclose the existence of this Agreement to Third Parties, and may disclose the terms of this Agreement (a) to the extent reasonably 

necessary, in confidence, to its legal counsel and accountants, (b) to Governmental Authorities as required by any applicable Law or the applicable rules or regulations of any securities exchange on which any of such Party’s securities are listed (in either case, as determined by such Party upon advice of counsel), provided that prior to any such required disclosure, the disclosing Party gives the non-disclosing Parties reasonable advance notice of such disclosure, minimizes the scope of such disclosure (including by making redactions to documents provided as part of such disclosure and by cooperating with the non-disclosing Parties to obtain protective orders) to the extent permitted under applicable Law, and otherwise coordinates with the non-disclosing Parties with respect to the scope of such disclosure, (c) in connection with the enforcement of this Agreement, including the exercise of defensive rights hereunder, or (d) as permitted under Section 9.5. Notwithstanding the foregoing, (i) neither Party will be prohibited from disclosing, in confidence, the scope of its licenses, rights and immunities hereunder and the terms of Section 4 to its Covered Entities or Component Suppliers, and (ii) the obligations of the Parties under this Section 10.12 shall not apply to any terms of this Agreement that have been disclosed to the public by any Party as permitted by clauses (b) and (c) immediately above.
10.13Publicity. No Party shall (and shall ensure that none of its Affiliates and its and their respective agents, representatives or attorneys shall) originate any publicity, news release, or other public announcement, written or oral, relating to this Agreement without the prior written approval of each other Party except as otherwise required by Law. Such approval shall not be unreasonably withheld. Notwithstanding the foregoing, nothing in this Section 10.13 shall prevent or prohibit, or be construed to require approval by any Party for, (a) any disclosure of information or matters relating to this Agreement to a Party’s customers, resellers, or suppliers in the ordinary course of business where, with respect to information that constitutes confidential information of another Party under this Agreement, such disclosure is subject to the terms of a non-disclosure agreement in customary form, or (b) any publicity, news release or other public announcement of information that (i) is or becomes available to the general public other than in violation of Section 10.12, or (ii) otherwise does not constitute confidential information of another Party under this Agreement.
10.14Section 365(n). Each Party and Carl Zeiss, as licensor, acknowledges and agrees that the licenses, immunities and rights granted under this Agreement to the other Parties and their Affiliates by such licensor are licenses, immunities and rights as to “intellectual property” within the definition of Section 101(35A) of the United States Bankruptcy Code (for purposes of this Section, the “Code”). The Parties and Carl Zeiss hereto further agree that, in the event of the commencement of a bankruptcy proceeding by or against the licensor Party or Carl Zeiss, as applicable, under the Code, the licensee Party and its Affiliates shall be entitled, at such licensee Party’s option, to retain all their licenses, immunities and rights under this Agreement, including the licenses and immunities granted under Sections 3.1 through 3.4, as applicable, pursuant to Code Section 365(n). To the extent that United States Law is held by a court of competent jurisdiction not to apply with respect to a non-US bankruptcy proceeding of a Party or Carl Zeiss, each Party and Carl Zeiss shall take all actions that are reasonably necessary to effectuate the intent of the foregoing provisions in the country in which it and each Affiliate holding any rights with respect to its Licensed Patents or Restricted Patents is incorporated or conducts its business, subject to any mandatory provisions of applicable Law. Without limiting the generality of the foregoing, Nikon agrees to take all reasonable measures necessary to ensure the survival of the rights, immunities, and licenses granted to ASML Grantee Entities and Zeiss Grantee Entities in the event that Nikon 

or any other Nikon Grantor Entities is subject to a bankruptcy proceeding under the laws of Japan; ASML agrees to take all reasonable measures necessary to ensure the survival of the rights, immunities, and licenses granted to Nikon Grantee Entities in the event that ASML or any other ASML Grantor Entities is subject to a bankruptcy proceeding under the laws of the Netherlands; and Zeiss and Carl Zeiss agree to take all reasonable measures necessary to ensure the survival of the rights, immunities, and licenses granted to Nikon Grantee Entities in the event that Zeiss Grantor Entities is subject to a bankruptcy proceeding under the laws of Germany in each case in accordance with applicable Law.
10.15Carl Zeiss Authorization. Carl Zeiss hereby authorizes Zeiss to enter into this Agreement and to grant the releases, licenses, immunities and other rights granted herein on behalf of itself and all other Zeiss Grantor Entities.
10.16Further Assurances. Each Party agrees (a) to furnish upon request to the other Parties such further information, (b) to execute and deliver to the other Parties such other documents, and (c) to do such other acts and things, in each case as another Party may reasonably request for the purpose of carrying out the purposes, terms and conditions of this Agreement.
[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered by their respective duly authorized representatives as of the date first above written.

NIKON CORPORATION
By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered by their respective duly authorized representatives as of the date first above written.

ASML Holding N.V.
By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered by their respective duly authorized representatives as of the date first above written.

CARL ZEISS SMT GmbH
By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed and delivered by their respective duly authorized representatives as of the date first above written.
For purposes of Sections 2.2.1, 3.8, 6.3.3, 6.6, 10.6, 10.8, 10.14, and 10.15:

CARL ZEISS AG
By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

By:    /s/ [***]        
Name:    [***]            
Title:    [***]            

Schedule A
Pending Proceedings
		
	1.
	Court of Appeal of The Hague, Case No. 200.245.142,

		
	2.
	Court of Appeal of The Hague, Case No. 200.249.089

		
	3.
	Court of Appeal of The Hague, Case No. 200.249.121

		
	4.
	Court of Appeal of The Hague, Case No. 20.250.327

		
	5.
	Court of Appeal of The Hague re incident Zeiss in C/09/553926 [Case No. not yet assigned]

		
	6.
	Court of Appeal of The Hague re incident Zeiss in C/09/552858 [Case No. not yet assigned]

		
	7.
	Court of Appeal of The Hague re incident Zeiss in C/09/550816 [Case No. not yet assigned]

		
	8.
	District Court of The Hague , Case No. C/09/537395

		
	9.
	District Court of The Hague , Case No. C/09/539155

		
	10.
	District Court of The Hague , Case No. C/09/541038

		
	11.
	District Court of The Hague , Case No. C/09/542245

		
	12.
	District Court of The Hague , Case No. C/09/543446

		
	13.
	District Court of The Hague , Case No. C/09/546837

		
	14.
	District Court of The Hague , Case No. C/09/547803

		
	15.
	District Court of The Hague , Case No. C/09/548890

		
	16.
	District Court of The Hague , Case No. C/09/550816

		
	17.
	District Court of The Hague , Case No. C/09/552858

		
	18.
	District Court of The Hague , Case No. C/09/553926

		
	19.
	District Court of The Hague , Case No. C/09/555962

		
	20.
	District Court of The Hague , Case No. C/09/564829

		
	21.
	District Court of The Hague , Case No. C/09/566317

		
	22.
	District Court of The Hague , Case No. C/09/566318

		
	23.
	District Court of The Hague , Case No. C/09/566718

		
	24.
	District Court of The Hague re infringement EP3098835, [Case No. unknown or not yet assigned]

		
	25.
	District Court of The Hague re invalidity EP1837895, [Case No. not yet assigned]

		
	26.
	District Court of The Hague re invalidity EP1667211, [Case No. not yet assigned]

		
	27.
	District Court of The Hague re invalidity EP1672681, [Case No. not yet assigned]

		
	28.
	District Court of The Hague re invalidity EP1860684, [Case No. not yet assigned]

		
	29.
	District Court of The Hague re invalidity EP1760528, [Case No. not yet assigned]

		
	30.
	District Court of The Hague re invalidity EP2278402, [Case No. not yet assigned]

		
	31.
	District Court of Amsterdam, Case No. C/13/629347

		
	32.
	Federal Patent Court (Munich), Case No. 2 Ni 45/17 (EP)

		
	33.
	Federal Patent Court (Munich), Case No. 4 Ni 46/17 (EP) (formerly 2 Ni 46/17 (EP) )

		
	34.
	Higher regional court of Karlsruhe, Case No. 6 U 47/18

		
	35.
	Mannheim District Court, Case No. 7 0 79/17

		
	36.
	Mannheim District Court, Case No. 7 0 155/17, which was branched off as separate proceeding of Case No. 7 0 79/17,

		
	37.
	Mannheim District Court, re infringement EP2645406, [Case Nos. not yet assigned]

		
	38.
	Mannheim District Court re infringement EP2615479, [Case No. not yet assigned]

		
	39.
	Tribunal de Grande Instance de Paris, 3eme chambre Jere section (17/12180)

		
	40.
	European Commission Case AT. 40601

		
	41.
	Tokyo District Court (Div. 29) (Heisei30-wa-7874) (Japan)

		
	42.
	Tokyo District Court (Div. 29) (Heisei29-wa-14297) (Japan)

		
	43.
	Tokyo District Court (Div. 29) (Heisei29-wa-14357) (Japan)

		
	44.
	Tokyo District Court (Div. 29) (Heisei29-wa-17476) (Japan)

		
	45.
	Tokyo District Court (Div. 29) (Heisei29-yo-22032) (Japan)

		
	46.
	Tokyo District Court (Div. 29) (Heisei29-wa-27578) (Japan)

		
	47.
	Tokyo District Court (Div. 40) (Heisei29-wa-13532) (Japan)

		
	48.
	Tokyo District Court (Div. 40) (Heisei29-wa-14298) (Japan)

		
	49.
	Tokyo District Court (Div. 46) (Heisei29-wa-13535) (Japan)

		
	50.
	Tokyo District Court (Div. 46) (Heisei29-wa-14356) (Japan)

		
	51.
	Tokyo District Court (Div. 46) (Heisei29-yo-22050) (Japan)

		
	52.
	Tokyo District Court (Div. 46) (Heisei29-wa-31146) (Japan)

		
	53.
	Tokyo District Court (Div. 47) (Heisei29-yo-22033) (Japan)

		
	54.
	Tokyo District Court (Div. 47) (Heisei29-wa-27577) (Japan)

		
	55.
	Tokyo District Court (Div. 47) (Heisei29-yo-22051) (Japan)

		
	56.
	Tokyo District Court (Div. 47) (Heisei29-wa-30820) (Japan)

		
	57.
	Japan Patent Office (2017-800133) (Invalidation trial against JP4987301) (Japan)

		
	58.
	Japan Patent Office (2018-800074) (Invalidation trial against JP4987301) (Japan)

		
	59.
	Japan Patent Office (2018-800147) (Invalidation trial against JP4776551) (Japan)

		
	60.
	Japan Patent Office (2018-800150) (Invalidation trial against JP5462739) (Japan)

		
	61.
	International Centre for Dispute Resolution, Case No. 01-18-0002-1823

		
	62.
	USITC, Case No. 337-TA-1059

		
	63.
	USITC, Case No. 337-TA-1128

		
	64.
	USITC, Case No. 337-TA-1129

		
	65.
	USITC, Case No. 337-TA-1137

		
	66.
	N.D. Cal., Case No. 3:18-cv-04403

		
	67.
	N.D. Cal., Case No. 3:18-cv-05592

		
	68.
	N.D. Cal., Case No. 17-mc-80071-BLF-SVK

		
	69.
	N.D. Cal., Case No. 3:18-mc-80051-EDL

		
	70.
	N.D. Cal., Case No. 3:18-mc-80070-EDL

		
	71.
	N.D. Cal., Case No. 3:18-mc-80173-EDL

		
	72.
	C.D. Cal., Case No. 2:17-cv-03221, on appeal to the United States Court of Appeals for the Federal Circuit, Case No. 2019-1068

		
	73.
	C.D. Cal., Case No. 2:17-cv-03225

		
	74.
	C.D. Cal., Case No. 2:17-cv-07083

		
	75.
	C.D. Cal., Case No. 2:17-cv-07084

		
	76.
	D. Ariz., Case No. 2:17-mc-00035-JJT

		
	77.
	E.D.N.Y., Civil Action No. 2:18-mc-01278-ADS

		
	78.
	PTAB (IPR2018-00220)

		
	79.
	PTAB (IPR2018-00227)

		
	80.
	PTAB (IPR2018-00686)

		
	81.
	PTAB (IPR2018-00687)

		
	82.
	PTAB (IPR2018-00688)

		
	83.
	EPO opposition proceedings re EP1780722 (reference X.15611); oral proceedings are scheduled to take place on Wednesday, October 16, 2019 in Munich.

		
	84.
	EPO Board of Appeal Number T1917/15-3.4.02 (EPO); oral proceedings are scheduled to take place on Wednesday, January 23, 2019 in Munich.

		
	85.
	EPO Board of Appeal Number T1153/15-3.4.02 (EPO); oral proceedings are scheduled to take place on Wednesday, March 13, 2019 in Munich.

		
	86.
	Case No. 4W102506 (China)

		
	87.
	Case No. 4W102505 (China)

		
	88.
	Case No. 4W102507 (China)

Schedule 6.3.1
ASML Disclosures
The listing of any information in this Schedule 6.3.1 shall not be deemed an admission or acknowledgment that such information is required to be listed in this Schedule 6.3.1. Without limiting the foregoing, the listing of any Patent in this Schedule 6 3 1 shall be deemed to be an inclusion of the claim(s) of such Patent in this Schedule 6.3.1 only if, and to the extent, that such claim(s) are reasonably relevant to Nikon Licensed Products.
Further, the following table contains only one counterpart per Patent family. Without limiting the foregoing paragraph, all applicable Patents that are based on the same priority document as the Patents listed in the following table shall be deemed part of this Schedule 6.3.1 without being expressly listed in the following table.
	
				
	Application No.
	Country
	Publication No.
	Patent No.

	[***]
	[***]
	[***]
	[***]

Schedule 6.3.2
Nikon Disclosures
The listing of any information in this Schedule 6.3.2 shall not be deemed an admission or acknowledgment that such information is required to be listed in this Schedule 6.3.2. Without limiting the foregoing, the listing of any Patent in this Schedule 6 3 2 shall be deemed to be an inclusion of the claim(s) of such Patent in this Schedule 6.3.2 only if, and to the extent, that such claim(s) are reasonably relevant to ASML Licensed Products or Zeiss Licensed Products.
Further, all applicable Patents that are based on the same priority document as the Patents listed in the following table shall be deemed part of this Schedule 6.3.2 without being expressly listed in the following table.
	
					
	No.
	Patent
Registration Number
	Patent
Application Number
	Country
	Title of Invention

	[***]
	[***]
	[***]
	[***]
	[***]

Schedule 6.3.3
Zeiss Disclosures
The listing of any information in this Schedule 6.3.3 shall not be deemed an admission or acknowledgment that such information is required to be listed in this Schedule 6.3.3. Without limiting the foregoing, the listing of any Patent in this Schedule 6 3 3 shall be deemed to be an inclusion of the claim(s) of such Patent in this Schedule 6.3.3 only if, and to the extent, that such claim(s) are reasonably relevant to Nikon Licensed Products.
Further, the following table contains only one counterpart per Patent family. Without limiting the foregoing paragraph, all applicable Patents that are based on the same priority document as the Patents listed in the following table shall be deemed part of this Schedule 6.3.3 without being expressly listed in the following table.
	
				
	Application No.
	Country
	Publication No.
	Patent No.

	[***]
	[***]
	[***]
	[***]EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

PUBLISHED CUSIP NUMBERS: 

DEAL CUSIP – 87512QAJ9 

FACILITY CUSIP – 87512QAH3 

CREDIT AGREEMENT 
 dated as
of February 6, 2020 
 among 

TAMPA ELECTRIC COMPANY, 
 a Florida
Corporation, 
 as Borrower 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent 
 and 

THE LENDERS PARTY HERETO 
  

 

 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	  	Loans	  	1	 
	 	  	2.1.2	  	Interest Provisions Applicable to all Loans	  	2	 
	 	  	2.1.3	  	Conversion of Loans	  	3	 
	 	  	2.1.4	  	Loan Principal Payment	  	4	 
	 	  	2.1.5	  	Promissory Notes	  	4	 
	 	  	2.1.6	  	Optional Prepayments	  	4	 
	 2.2
	  	[Reserved]	  	 	4	 
	 2.3
	  	[Reserved]	  	 	4	 
	 2.4
	  	Fees	  		  	 	4	 
	 2.5
	  	Other Payment Terms	  	 	4	 
	 	  	2.5.1	  	Place and Manner	  	4	 
	 	  	2.5.2	  	Date	  	4	 
	 	  	2.5.3	  	Late Payments	  	5	 
	 	  	2.5.4	  	Net of Taxes, Etc.	  	5	 
	 	  	2.5.5	  	Application of Payments	  	6	 
	 	  	2.5.6	  	Failure to Pay Administrative Agent	  	6	 
	 	  	2.5.7	  	Withholding Exemption Certificates	  	7	 
	 	  	2.5.8	  	Certain Deductions by Administrative Agent	  	8	 
	 2.6
	  	Pro Rata Treatment	  	 	8	 
	 	  	2.6.1	  	Borrowings, Payments, Etc.	  	8	 
	 	  	2.6.2	  	Sharing of Payments, Etc.	  	8	 
	 2.7
	  	Change of Circumstances	  	 	8	 
	 	  	2.7.1	  	Inability to Determine Rates	  	8	 
	 	  	2.7.2	  	Illegality	  	9	 
	 	  	2.7.3	  	Increased Costs	  	9	 
	 	  	2.7.4	  	Capital Requirements	  	9	 
	 	  	2.7.5	  	Delay in Request	  	10	 
	 2.8
	  	Funding Losses	  	 	10	 
	 2.9
	  	Alternate Office, Minimization of Costs	  	 	10	 
	 	  	2.9.1	  	Minimization of Costs	  	10	 
	 	  	2.9.2	  	Replacement Rights	  	10	 
	 	  	2.9.3	  	Alternate Office	  	11	 
	 2.10
	  	[Reserved]	  	 	11	 
	 2.11
	  	Defaulting Lenders	  	 	11	 
		
	ARTICLE III CONDITIONS PRECEDENT	  	 	12	 
			
	 3.1
	  	Conditions Precedent to Obligation to Make Loans	  	 	12	 
	 	  	3.1.1	  	Credit Facility Documents	  	12	 
	 	  	3.1.2	  	Resolutions	  	12	 
	 	  	3.1.3	  	Incumbency	  	12	 
	 	  	3.1.4	  	Legal Opinions	  	12	 

  
 -ii- 

									
	 	  	3.1.5	  	Financial Statements	  	12	 
	 	  	3.1.6	  	Accuracy of Representations and Warranties; No Defaults	  	12	 
	 	  	3.1.7	  	Certificate of Borrower	  	12	 
	 	  	3.1.8	  	Payment of Fees	  	12	 
	 3.2
	  	Conditions Precedent to Borrowing	  	 	13	 
	 	  	3.2.1	  	Accuracy of Representations and Warranties	  	13	 
	 	  	3.2.2	  	No Defaults	  	13	 
	 	  	3.2.3	  	Notice of Borrowing	  	13	 
		
	ARTICLE IV REPRESENTATIONS AND WARRANTIES	  	 	13	 
			
	 4.1
	  	Corporate Existence and Business	  	 	13	 
	 4.2
	  	Power and Authorization; Enforceable Obligations	  	 	13	 
	 4.3
	  	No Legal Bar	  	 	13	 
	 4.4
	  	No Proceeding, Litigation or Investigation	  	 	14	 
	 4.5
	  	Governmental Approvals	  	 	14	 
	 4.6
	  	Financial Statements	  	 	14	 
	 4.7
	  	True and Complete Disclosure	  	 	14	 
	 4.8
	  	Investment Company Act	  	 	14	 
	 4.9
	  	Compliance with Law	  	 	14	 
	 4.10
	  	ERISA	  		  	 	14	 
	 4.11
	  	Solvency	  	 	14	 
	 4.12
	  	Taxes	  		  	 	15	 
	 4.13
	  	Use of Credit	  	 	15	 
	 4.14
	  	FCPA; OFAC; Anti-Money Laundering	  	 	15	 
	 	  	4.14.1	  	No Unlawful Contributions or Other Payments	  	15	 
	 	  	4.14.2	  	OFAC	  	15	 
	 	  	4.14.3	  	No Conflict with Money Laundering Laws	  	15	 
		
	ARTICLE V COVENANTS OF BORROWER	  	 	16	 
			
	 5.1
	  	Existence	  	 	16	 
	 5.2
	  	Consents, Legal Compliance	  	 	16	 
	 5.3
	  	Prohibition of Certain Transfers	  	 	16	 
	 5.4
	  	Payment and Performance of Material Obligations	  	 	17	 
	 5.5
	  	Taxes	  		  	 	17	 
	 5.6
	  	Maintenance of Property, Insurance	  	 	17	 
	 5.7
	  	Compliance with Laws, Instruments, Etc.	  	 	17	 
	 5.8
	  	No Change in Business	  	 	17	 
	 5.9
	  	Financial Statements	  	 	17	 
	 5.10
	  	Notices	  		  	 	18	 
	 5.11
	  	Financial Covenants	  	 	19	 
	 5.12
	  	Indemnification	  	 	19	 
	 5.13
	  	Federal Regulations	  	 	21	 
	 5.14
	  	Use of Proceeds	  	 	21	 
	 5.15
	  	Transactions with Affiliates	  	 	21	 
		
	ARTICLE VI EVENTS OF DEFAULT; REMEDIES	  	 	21	 
			
	 6.1
	  	Events of Default	  	 	21	 
	 	  	6.1.1	  	Payments	  	21	 
	 	  	6.1.2	  	Debt Cross Default	  	21	 
	 	  	6.1.3	  	Bankruptcy; Insolvency	  	22	 
	 	  	6.1.4	  	Misstatements	  	22	 

  
 -iii- 

									
	 	  	6.1.5	  	Breach of Terms of Agreement	  	22	 
	 	  	6.1.6	  	Judgments	  	22	 
	 	  	6.1.7	  	Change in Control	  	22	 
	 	  	6.1.8	  	ERISA Violations	  	22	 
	 	  	6.1.9	  	Lack of Validity, Etc.	  	22	 
	 6.2
	  	Remedies	  	 	23	 
	 	  	6.2.1	  	No Further Loans	  	23	 
	 	  	6.2.2	  	Cure by Administrative Agent	  	23	 
	 	  	6.2.3	  	Acceleration	  	23	 
		
	ARTICLE VII ADMINISTRATIVE AGENT, SUBSTITUTION, AMENDMENTS, ETC.	  	 	23	 
			
	 7.1
	  	Appointment, Powers and Immunities	  	 	23	 
	 7.2
	  	Reliance	  	 	25	 
	 7.3
	  	Non-Reliance	  	 	25	 
	 7.4
	  	Defaults	  	 	25	 
	 7.5
	  	Indemnification	  	 	26	 
	 7.6
	  	Successor Administrative Agent	  	 	26	 
	 7.7
	  	Authorization	  	 	27	 
	 7.8
	  	Administrative Agent’s Other Roles; Other Agents	  	 	27	 
	 7.9
	  	Amendments; Waivers	  	 	27	 
	 7.10
	  	Withholding Tax	  	 	28	 
	 7.11
	  	General Provisions as to Payments	  	 	28	 
	 7.12
	  	Participations	  	 	28	 
	 7.13
	  	Transfer of Commitments	  	 	30	 
	 	  	7.13.1	  	Assignments	  	30	 
	 	  	7.13.2	  	Register	  	31	 
	 	  	7.13.3	  	No Assignments to Certain Persons	  	31	 
	 	  	7.13.4	  	Assignability as to Collateral	  	31	 
		
	ARTICLE VIII MISCELLANEOUS	  	 	32	 
			
	 8.1
	  	Addresses	  	 	32	 
	 8.2
	  	Additional Security; Right to Set-Off	  	 	33	 
	 8.3
	  	Delay and Waiver	  	 	34	 
	 8.4
	  	Costs, Expenses and Attorneys’ Fees	  	 	34	 
	 8.5
	  	Entire Agreement	  	 	34	 
	 8.6
	  	Governing Law	  	 	34	 
	 8.7
	  	Severability	  	 	35	 
	 8.8
	  	Headings	  	 	35	 
	 8.9
	  	Accounting Terms	  	 	35	 
	 8.10
	  	No Partnership, Etc.	  	 	35	 
	 8.11
	  	Limitation on Liability	  	 	35	 
	 8.12
	  	Waiver of Jury Trial	  	 	35	 
	 8.13
	  	Consent to Jurisdiction	  	 	35	 
	 8.14
	  	Knowledge and Attribution	  	 	36	 
	 8.15
	  	Successors and Assigns	  	 	36	 
	 8.16
	  	Counterparts	  	 	36	 
	 8.17
	  	Patriot Act Notice	  	 	36	 
	 8.18
	  	Payments Set Aside	  	 	36	 
	 8.19
	  	No Advisory or Fiduciary Responsibility	  	 	37	 
	 8.20
	  	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	37	 

  
 -iv- 

			
	 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 Note

	 Exhibit D
	  	 [Reserved]

	 Exhibit E-1
	  	 [Reserved]

	 Exhibit E-2
	  	 Form of Notice of Conversion of Loan Type

	 Exhibit E-3
	  	 Form of Confirmation of Interest Period Selection

	 Exhibit E-4
	  	 [Reserved]

	 Exhibit F
	  	 [Reserved]

	 Exhibit G
	  	 Form of Borrower’s Closing Certificate

	 Exhibit H-1
	  	 Form of Opinion of Assistant General Counsel to Borrower

	 Exhibit H-2
	  	 Form of Opinion of Locke Lord LLP, counsel to Borrower

	 Exhibit H-3
	  	 Form of Opinion of Milbank LLP, counsel to the Administrative Agent

  
 -v- 

 CREDIT AGREEMENT (this “Agreement”) dated as of February 6, 2020 among
TAMPA ELECTRIC COMPANY, a Florida corporation (“Borrower”), the LENDERS party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent. 

RECITALS 
 Borrower desire to
enter into, and the Lenders are willing to provide, the 364-day senior unsecured term loan credit facility set forth herein and, accordingly, the parties hereto 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 Loans. 

2.1.1.1 Commitments. Subject to the terms and conditions set forth in this Agreement, each Lender severally agrees to make Loans in a
single drawing on the Closing Date to Borrower in the full amount of such Lender’s Commitment. Amounts borrowed under this Section 2.1.1.1 and prepaid or repaid under Section 2.1.6 may not be reborrowed. The Commitments of all the
Lenders shall be automatically and permanently terminated on the Closing Date after giving effect to the borrowing to be made on the Closing Date. 

2.1.1.2 The Borrowing. The Loans shall be made initially as LIBOR Loans with an initial Interest Period of one week in the aggregate
amount of $300,000,000 on the Closing Date to the account(s) to which the proceeds of the Borrowing are to be credited, as contemplated by Section 2.1.1.3(d). 

2.1.1.3 Loan Funding. 

(a) [Reserved] 
 (b) Pro
Rata Loans. Each Loan shall be made on a pro rata basis by the Lenders in accordance with their respective Proportionate Shares, with each Borrowing to consist of a Loan by each Lender equal to such Lender’s Proportionate Share of
such Borrowing. 
 (c) Lender Funding. Each Lender shall, before 12:00 noon on the date of the Borrowing, make available to
Administrative Agent at the Administrative Agent’s Office, in same day funds, such Lender’s Proportionate Share of the Borrowing. The failure of any Lender to make the Loan to be made by it as part of the Borrowing shall not relieve any
other Lender of its obligation hereunder to make its Loan on the date of the Borrowing. No Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on the date of the Borrowing. 

  
 1 

 (d) Funding of Loans. No later than 2:00 p.m. on the Closing Date, 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 Loans 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 writing to Administrative Agent before the Closing Date in accordance with Section 3.2.3. 

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 Loan that
is, and during such periods as such Loan is, a Base Rate Loan, at a rate per annum equal to the Alternate Base Rate plus the Applicable Rate; and 

(b) With respect to the principal portion of each Loan that is, and during such periods as such 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. 
 2.1.2.2
Interest Provisions. Unless otherwise specified by Borrower in a Notice of Conversion of Loan Type and except as otherwise provided for herein, all Loans shall bear interest based on the LIBO Rate with a one week Interest Period, and subject
to the applicable limitations set forth herein, Loans shall bear interest based upon the LIBO Rate or Alternate Base Rate as specified by Borrower in a 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, and (iii) in all cases, upon
prepayment (to the extent thereof and including any optional prepayments), upon conversion from one Type of Loan to another Type, 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 $5,000,000. 

(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 

  
 2 

 
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 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 Loan from one Type of 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 $5,000,000 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 Loans, or portion thereof, which are to be converted; 

(b) the Type into which such Loans, or portion thereof, are to be converted; 

(c) if such 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. 

  
 3 

 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 Loan made by such Lender. 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 “Note”), payable to such Lender and in the principal amount of such Lender’s Commitment. 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 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
$5,000,000 or an integral multiple of $1,000,000 in excess thereof (except in the case of a prepayment of all the Loans). Upon the prepayment of any Loan, Borrower shall pay to Administrative Agent for the account of the Lender which made such Loan
(i) all accrued interest and fees 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 [Reserved]
 
 2.3 [Reserved]  

2.4 Fees. Borrower agrees to pay to the Administrative Agent the fees in the amounts previously agreed with the Administrative Agent,
at the times when due and payable, in accordance with the terms thereof. 
 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. 

  
 4 

 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. 

  
 5 

 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 

  
 6 

 
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. 

  
 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 2.5.6 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 to satisfy such Lender’s obligations to Administrative Agent 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 (a) and (b) 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, (a) each 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 Loans 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 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 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. 

  
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 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 (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 to any tax of any kind whatsoever with respect to this Agreement or any LIBOR Loan made by it, or change the basis
of taxation of payments to such Lender 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

 2.7.3.3 impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this
Agreement or LIBOR Loans made by such Lender (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 of making, converting to, continuing or maintaining any LIBOR Loan or of
maintaining its obligation to make any such Loan other than any cost related to Taxes or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise) by an amount deemed by such Lender
to be material, then Borrower will pay to such Lender within 30 days after its demand, such additional amount or amounts as will compensate such Lender 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 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 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 capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or
the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change of Law (taking into consideration such Lender’s policies and the policies of such Lender’s
holding company with respect to capital adequacy), then from time to time Borrower shall pay to such Lender, within 30 days after its demand such additional amount or amounts as will compensate such Lender or such Lender’s holding company for
any such reduction suffered. A certificate of such Lender, setting forth in reasonable detail the computation of any such amount, submitted by such Lender to Borrower, shall, in the absence of demonstrable error, be conclusive and binding on
Borrower for purposes of this Agreement. 

  
 9 

 2.7.5 Delay in Request. Failure or delay on the part of any Lender to demand
compensation pursuant to this Section 2.7 shall not constitute a waiver of such Lender’s right to demand such compensation; provided that Borrower shall not be required to compensate a Lender pursuant to this Section 2.7 for
any costs or reductions incurred more than 180 days prior to the date that such Lender notifies Borrower of the event giving rise to such costs or reductions and of such Lender’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 satisfy the applicable conditions for the Borrowing on the date of this Agreement, (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 

  
 10 

 
Lender, if a Lender accepts such assignment); provided that Borrower shall have received the prior written consent of Administrative Agent 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 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 [Reserved]  
 2.11
Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then for so long as such Lender is a Defaulting Lender the Commitment and Loans 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. 

  
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 ARTICLE III 

CONDITIONS PRECEDENT 
 3.1
Conditions Precedent to Obligation to Make Loans. Each Lender’s obligation to make Loans pursuant to this Agreement 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 (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)). 

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

3.1.3 Incumbency. Delivery to Administrative Agent of a certificate in form and substance reasonably satisfactory to Administrative
Agent, from Borrower signed by the appropriate authorized officer and dated the Closing Date, as to the incumbency of the natural persons authorized to execute and deliver this Agreement and each other Credit Facility Document and any instruments or
agreements required hereunder or thereunder to which Borrower is a party. 
 3.1.4 Legal Opinions. Delivery to Administrative Agent
of legal opinions of in-house and external counsel to Borrower and counsel to Administrative Agent, in the form of Exhibits H-1,
H-2 and H-3, respectively. 
 3.1.5 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. 

3.1.6 Accuracy of Representations and Warranties; No Defaults. As of the Closing Date, the conditions set forth in Sections 3.2.1 and
3.2.2 shall be satisfied. 
 3.1.7 Certificate of Borrower. Administrative Agent shall have received a certificate, dated as of the
Closing Date, signed by a Responsible Officer of Borrower, in substantially the form of Exhibit G. 
 3.1.8 Payment of Fees. All
amounts required to be paid by Borrower to the Administrative Agent 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. 
 Administrative Agent
shall notify Borrower and the Lenders of the Closing Date, and such notice shall be conclusive and binding. 

  
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 3.2 Conditions Precedent to Borrowing. The obligation of the Lenders to make each
Loan is subject to the prior satisfaction of each of the following conditions: 
 3.2.1 Accuracy of Representations and Warranties.
Each representation and warranty set forth in Article IV shall be true and correct as if made on and as of the date of such Borrowing, 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. 

3.2.2 No Defaults. No Event of Default or Inchoate Default shall have occurred and is continuing or will result from such Borrowing.

 3.2.3 Notice of Borrowing. Borrower shall have delivered to Administrative Agent a notification of the account or accounts to
which the proceeds of the Loans shall be deposited, at least one Business Day prior to the Closing Date. 
 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 Closing Date
and, unless otherwise expressly limited to the Closing Date, as of the date of the Borrowing (and all of these representations and warranties shall survive the Closing Date 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. 

  
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 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, 2018, 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 Closing Date, taken as a whole, as updated or supplemented from time to time, is true and correct in all material respects as of the
Closing Date, and as of the Closing 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. 

  
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 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, Crimea, 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 or would be in violation of Money
Laundering Laws. 
 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. 

  
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 ARTICLE V 

COVENANTS OF BORROWER 
 Borrower
covenants and agrees that 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 and S&P are at least
Baa2 and BBB-, respectively, or Baa3 and BBB, respectively; (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; (iv) 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 0.65 to 1.00; and (v) 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 subsidiary of Borrower may 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. 

  
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 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 utility 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, 2020), an unaudited consolidated balance sheet of Borrower and its
consolidated subsidiaries as 

  
 17 

 
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; 

  
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 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 March 31, 2020), 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 Florida Public Service Commission. 
 5.12
Indemnification. 
 5.12.1 Borrower shall indemnify, defend and hold harmless Administrative Agent 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 

  
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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, 

  
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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 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 on the date such sum is due, (ii) any interest on any Loan 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 

  
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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 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 fails to satisfy the “minimum funding standard” under Code Section 412; 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 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). 

  
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 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 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 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. 

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. 

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

7.1.1 Each Lender hereby irrevocably appoints Administrative Agent to act on its behalf as Administrative Agent hereunder and under the other
Credit Facility Documents and authorizes Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to Administrative Agent by the terms of this Agreement and the other Credit Facility Documents, together
with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of Administrative Agent and the Lenders, and Borrower shall not have rights as a third-party 

  
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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. 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, may expose Administrative Agent to liability or that 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; and (iii) shall not, except as expressly set forth herein and in the other Credit Facility Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Borrower or
any of its Affiliates that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity. Each of Administrative Agent and the Lenders 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. 

  
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 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 acknowledges that it has,
independently and without reliance on Administrative Agent, any arranger of this credit facility or any amendment thereto or any other Lender and their respective Related Parties, 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 also acknowledges that it will, independently and without reliance upon Administrative Agent, any arranger of this credit facility or any amendment
thereto or any other Lender and their respective Related Parties 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 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,

  
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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 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 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 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. 

  
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 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. 

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 (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 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 

  
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 (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 without the
prior written consent of Administrative Agent. 
 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 

  
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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, 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, 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 (an “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. 

  
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 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: 
 (a) 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; and 
 (b)
Administrative Agent; provided that no consent of Administrative Agent shall be required for an assignment to a Lender. 
 Assignments shall be
subject to the following additional conditions: 
 (i) 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; 
 (ii) 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; 
 (iii) 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 
 (iv) 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. 

  
 30 

 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 2.5.6 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 owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and Borrower, Administrative Agent 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 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, 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. 

  
 31 

 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 Wells Fargo as Administrative Agent:	  	 Nicole Prebeck
 Loan Servicing
Specialist

		  	WLS Charlotte Agency Services
		  	Wholesale Loan Services |
		  	1525 West W.T. Harris Blvd. 1B1 |
		  	Charlotte, NC 28262
		  	MAC D1109-019
		  	Tel 704-590-9003| Fax 844-879-5899
		  	Nicole.Prebeck@wellsfargo.com
		
	If to Borrower:	  	Tampa Electric Company
		  	702 North Franklin Street
		  	Tampa, FL 33602
		  	Attention: Corporate Secretary
		  	Telephone No.: (813) 228-4723
		  	Telecopy No.: (813) 228-1328
		
		  	with a copy to:
		
		  	Tampa Electric Company
		  	702 North Franklin Street
		  	Tampa, FL 33602
		  	Attention: Vice President-Finance
		  	Telephone No.: 813-228-1809
		
	If to any other Lender:	  	To the address specified on such Lender’s Administrative
		  	Questionnaire.

 8.1.1 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 or e-mail. 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. 
 8.1.2
Borrower hereby agrees that it will provide to Administrative Agent all information, documents and other materials that it is obligated to furnish to Administrative Agent pursuant to this Agreement or any other Credit Facility Document, including
all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication that (a) relates to a request for a new, or a conversion of an existing, borrowing
(including any election of an interest rate or interest period relating thereto), (b) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (c) provides notice of any default or
event of default under this Agreement or (d) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any borrowing hereunder (all such non-excluded
communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium in a format acceptable to Administrative Agent to Nicole.Prebeck@wellsfargo.com or
AgencyServices.Requests@wellsfargo.com. 

  
 32 

 8.1.3 Borrower further agrees that Administrative Agent may make the Communications
available to the Lenders by posting the Communications on IntraLinks or a substantially similar electronic transmission systems (the “Platform”). Borrower acknowledges that the distribution of material through an electronic medium
is not necessarily secure and that there are confidentiality and other risks associated with such distribution. 
 8.1.4 THE PLATFORM IS
PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS
IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY
RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE AGENT PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL ADMINISTRATIVE AGENT OR ANY OF ITS AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS,
EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES (COLLECTIVELY, “AGENT PARTIES”) HAVE ANY LIABILITY TO BORROWER, ANY LENDER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING, WITHOUT LIMITATION, DIRECT OR
INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF BORROWER’S OR ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE
EXTENT THE LIABILITY OF ANY AGENT PARTY IS FOUND IN A FINAL NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH AGENT PARTY’S GROSS NEGLIGENCE OR WILLFUL
MISCONDUCT. 
 8.1.5 Administrative Agent agrees that the receipt of the Communications by Administrative Agent at its e-mail address set forth above shall constitute effective delivery of the Communications to Administrative Agent for purposes of this Agreement and the other Credit Facility Documents. Each Lender agrees that notice
to it (as provided in the next sentence) specifying that the Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of this Agreement or any other Credit Facility
Document. Each Lender agrees to notify Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent
by electronic transmission and (ii) that the foregoing notice may be sent to such e-mail address. 

8.1.6 Nothing herein shall prejudice the right of Administrative Agent or any Lender to give any notice or other communication pursuant to
this Agreement or under any other Credit Facility Document in any other manner specified in such document. 
 8.2 Additional Security;
Right to Set-Off. Any deposits or other sums at any time credited or due from the Lenders 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 under this Agreement and the other Credit Facility Documents, and Borrower hereby pledges to Administrative Agent for the
benefit of the Lenders 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

  
 33 

 
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 the
Administrative Agent all of its reasonable costs and expenses in connection with the preparation, negotiation, closing and administering of this Agreement and the documents contemplated hereby 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 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 or the Lenders under the Credit Facility Documents and (b) Administrative Agent 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 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 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). 

  
 34 

 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 Borrower 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 

  
 35 

 
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 or any Lender, or
Administrative Agent 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 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 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. 

  
 36 

 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 services regarding this Agreement provided by Administrative Agent and the Lenders are arm’s-length commercial transactions between Borrower and its Affiliates, on the one hand, and
Administrative Agent and the Lenders 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) each of the Administrative Agent and the Lenders 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 or the
Lenders 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) the Administrative
Agent, the Lenders 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 or the Lenders 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 and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

8.20 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding
anything to the contrary in any Credit Facility Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Credit
Facility Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of
any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and (b) the effects of any Bail-In Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into
shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be
accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Credit Facility Document; or (iii) the variation of the terms of such liability in connection with the exercise of the Write-Down and
Conversion Powers of any EEA Resolution Authority. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 37 

 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:
  

TAMPA ELECTRIC COMPANY

		
	By:	 	/s/ Nancy Tower
		 	Name: Nancy Tower
		 	Title: President and Chief Executive Officer

 
			
		
	By:	 	/s/ Gregory W. Blunden
		 	Name: Gregory W. Blunden
		 	 Title:   Senior Vice President of Finance and Accounting and Chief Financial
Officer

  
 [Signature Page
to Tampa Credit Agreement] 

 
			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent and Lender

		
	By:	 	/s/ Gregory R. Gredvig
		 	 Name: Gregory R. Gredvig
 Title:
Director

  
 [Signature Page to
Tampa Credit Agreement] 

			
	 JPMORGAN CHASE BANK, N.A.
 as
Lender

		
	By:	 	/s/ Tom Martin
		 	 Name: Tom Martin
 Title:   Vice
President

  
 [Signature Page to
Tampa Credit Agreement] 

			
	 ROYAL BANK OF CANADA,
 as
Lender

		
	By:	 	/s/ Timothy P. Murray
		 	Timothy P. Murray
		 	Authorized Signatory

  
 [Signature Page to
Tampa Credit Agreement] 

			
	MUFG BANK, LTD., CANADA BRANCH, as Lender
		
	By:	 	/s/ Nirushan Thambirajah
		 	 Name: Nirushan Thambirajah
 Title: Authorized
Signatory

  
 [Signature Page to
Tampa Credit Agreement] 

			
	 THE BANK OF NOVA SCOTIA,
 as
Lender

		
	By:	 	/s/ David Dewar
		 	Name: David Dewar
		 	Title: Director

  
 [Signature Page to
Tampa Credit Agreement] 

 SCHEDULE 1 

LENDERS AND COMMITMENTS 
  

					
	 Lender
	  	Amount of Commitment	 
	 Wells Fargo Bank, National Association
	  	$	60,000,000	 
	 JPMorgan Chase Bank, N.A.
	  	$	60,000,000	 
	 Royal Bank of Canada
	  	$	60,000,000	 
	 MUFG Bank, Ltd., Canada Branch
	  	$	60,000,000	 
	 The Bank of Nova Scotia
	  	$	60,000,000	 
		  	$	300,000,000	 

  

  
 Schedule 1 

 SCHEDULE 5.3.3 

EXISTING LIENS 
 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 

“Administrative Agent” means Wells Fargo Bank, National Association, 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%; provided that, for the avoidance of doubt, in no event shall the Alternate Base Rate be less than 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 Rate” means a percentage per annum equal to (a) with respect to Base Rate Loans, 0.00% and (b) with
respect to LIBOR Loans, 0.55%. 
 “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. 
 “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.

  

  
 Exhibit A-1 

 “Bail-In Action” means the exercise
of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “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 or Ontario, Canada 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 Tampa
Electric Company, a Florida corporation. 
 “Borrowing” means Loans of the same Type. 

“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. 
 “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. 

  
 Exhibit A-2 

 “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, for purposes of Section 2.7.4 of the Credit Agreement, by any lending office of such Lender or by such Lender’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.

 “Closing Date” means the date (which shall not be later than February 6, 2020 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). 

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

“Commitment” means, with respect to each Lender, the commitment of such Lender to make Loans hereunder on the Closing Date.
The 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. 

“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 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 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. 

  
 Exhibit A-3 

 “Credit Agreement” or “Agreement” means this Credit
Agreement dated as of February 6, 2020 among Borrower, the Lenders party hereto and Administrative Agent, to which this Exhibit A is attached. 

“Credit Facility Documents” means, collectively, the Credit Agreement, any Notes 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 2.00%, (ii) with respect to any Base Rate Loan, the rate applicable to Base Rate Loans, plus 2.00% and (b) with respect to interest, fees and any other amounts, the interest rate then applicable to Base Rate
Loans, plus 2.00%. 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 Loans or (ii) pay over to Administrative Agent 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 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 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 (i) 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, (ii) 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, or (iii) become the subject of a Bail-In Action (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. 

“EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country
which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution 

described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an
institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

  
 Exhibit A-4 

 “EEA Member Country” means any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“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. 

“EU Bail-In Legislation Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

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

“Excluded Taxes” means, with respect to Administrative Agent or any Lender, (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 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 (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 at the time such Lender becomes a party to this Agreement or
(ii) is attributable to such Lender’s failure or inability (other than as a result of a Change of Law after the date such Lender becomes a party to this Agreement) to comply with Section 2.5.7 of the Credit Agreement and (d) any
Taxes imposed under FATCA. 

  
 Exhibit A-5 

 “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; provided that if the Federal Funds Effective
Rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement. 
 “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. 

“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 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. 
 “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

  
 Exhibit A-6 

 
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 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. 

“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, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“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-7 

 “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 Intercontinental Exchange Benchmark
Administration (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 the date that is 364 days after the Closing Date (or if such date is not a Banking Day, the immediately
preceding Banking Day). 
 “Minimum Notice Period” means (a) at least three Banking Days before the date of any
continuation or conversion of a 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 conversion of a Loan resulting in whole or in part in one or more Base Rate Loans. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means any ERISA Plan that is a multiemployer plan (as defined in Section 3(37) of ERISA). 

“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. 

  
 Exhibit A-8 

 “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. 

“Obligations” means, collectively, all obligations of Borrower to Administrative Agent and/or the Lenders arising under the
Credit Agreement and the other Credit Facility Documents, 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. 
 “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 Administrative Agent 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 (i) at any time prior to the Closing Date, the percentage of the Commitments represented by such Lender’s Commitment and (ii) at any time after the Closing Date, the percentage of the aggregate amount of Loans
represented by such Lender’s Loans; provided that in the case of Section 2.11 when a Defaulting Lender shall exist, “Proportionate Share” shall mean the percentage of the Commitments or the aggregate amount of Loans (disregarding
any Defaulting Lender’s Commitment or Loans) represented by such Lender’s Commitment or Loans. 

  
 Exhibit A-9 

 “Reference Bank” means the three major banks in the London market that
consent to provide rates and are selected by the Administrative Agent in consultation with 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. 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
officers, employees, agents and advisors of such Person and such Person’s Affiliates. 
 “Reportable Event” means a
reportable event as defined in Section 4043 of ERISA with respect to an ERISA Plan. 
 “Required Lenders” means, at
any time, Lenders holding in excess of 50% of the Proportionate Shares. 
 “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). 

  
 Exhibit A-10 

 “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 Closing Date the total assets (after
intercompany eliminations) of which exceed 10% of the total assets of Borrower and its subsidiaries (taken as a whole). 

“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. 

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

“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. 

“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. 

“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 

  
 Exhibit A-11 

 
subordinated debentures issued by Borrower and its subsidiaries 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 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 Loan, whether a Base Rate Loan or LIBOR Loan. 

“Wells Fargo” means Wells Fargo Bank, National Association. 

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

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

  
 Exhibit A-12 

 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-13 

 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 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:	 	Wells Fargo Bank, National Association, as Administrative Agent under the Credit Agreement
			
	5.	  	Credit Agreement:	 	Credit Agreement dated as of February 6, 2020 among Tampa Electric Company, the Lenders party thereto and Wells Fargo Bank, National Association, as Administrative Agent
			
	6.	  	Assigned Interest:	 	

  

	1 	 Select as applicable. 

  
 Exhibit B-1 

					
	 Aggregate Amount of

Commitment/Loans for
 all
Lenders
	 	 Amount of

Commitment/Loans
 Assigned
	 	 Percentage Assigned of

Commitment/Loans2 

	 $[________]
	 	$[________]	 	[____]%
	 $[________]
	 	$[________]	 	[____]%
	 $[________]
	 	$[________]	 	[____]%

 Effective Date: _____________ ___, 202_ [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: 
  

			
	[WELLS FARGO BANK, NATIONAL ASSOCIATION
as Administrative Agent

			
		
	By	 	 
	Title:]3	 	

  

			
	Consented to:
	
	[TAMPA ELECTRIC COMPANY

			
		
	By	 	 
	Title:]4	 	

  

	3	 To be added only if the consent of Administrative Agent is required by the terms of the Credit Agreement.

	4	 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 1-1 to Exhibit B 

 EXHIBIT C 

to the Credit Agreement 

FORM OF NOTE 
  

			
	$______________	  	New York, New York
	Note No. ______	  	__________, 20_

 For value received, the undersigned TAMPA ELECTRIC COMPANY, a Florida 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 Loans made by Lender to Borrower pursuant to that certain Credit Agreement dated as of February 6, 2020 (as
amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among Borrower, the lenders party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as Administrative
Agent for the Lenders (“Administrative Agent”), and all other amounts owed by Borrower to Lender hereunder. 
 This is one
of the 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 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. 

  
 Exhibit C-1 

 
			
	TAMPA ELECTRIC COMPANY
		
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit C-2 

 EXHIBIT D 

to the Credit Agreement 

[Reserved] 

  
 Exhibit D-1 

 EXHIBIT E-1 

to the Credit Agreement 

[Reserved] 

  
 Exhibit E-1-1 

 EXHIBIT E-2 

to the Credit Agreement 

FORM OF NOTICE OF CONVERSION OF LOAN TYPE 

(Delivered pursuant to Section 2.1.3) 

[Date] 
 Wells Fargo Bank, National Association,

    as Administrative Agent for the Lenders 

with copy to: 
  

	Re:	 Tampa Electric Company Credit Agreement: Notice of Conversion of Loan Type 

Reference is hereby made to that certain Credit Agreement dated as of February 6, 2020 (as amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”), among Tampa Electric Company, a Florida corporation (“Borrower”), the lenders party thereto (the “Lenders”) and Wells Fargo Bank, National Association, 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 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.	  	

 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-2-1 

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

			
	TAMPA ELECTRIC COMPANY
		
	By:	 	 
		 	Name:
		 	Title:

 The undersigned acknowledges 

receipt of a copy of 
 this Notice of Conversion of Loan Type:

  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

   as Administrative Agent
	 	Date: __________, _____

  

			
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit E-2-2 

 EXHIBIT E-3  

to the Credit Agreement 

FORM OF CONFIRMATION OF INTEREST PERIOD SELECTION 

(Delivered pursuant to Section 2.1.2.4(b)) 

[Date] 
 Wells Fargo Bank, National Association,

    as Administrative Agent for the Lenders 

with copy to: 
  

	Re:	 Tampa Electric Company 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 February 6, 2020 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Tampa Electric Company, a Florida corporation (“Borrower”), the lenders
party thereto (the “Lenders”) and Wells Fargo Bank, National Association, 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 

 
			
	TAMPA ELECTRIC COMPANY
		
	By:	 	 
		 	Name:
		 	Title:

 The undersigned acknowledges receipt 

of a copy of this Confirmation of 
 Interest Period Selection:

  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as Administrative Agent	  	Date: __________, __

  

			
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit E-3-2 

 EXHIBIT E-4  

to the Credit Agreement 

[Reserved] 

  
 Exhibit E-4-1 

 EXHIBIT F  

to the Credit Agreement 

[Reserved] 

  
 Exhibit F-1 

 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 sixth day of February,
2020 to Wells Fargo Bank, National Association, as administrative agent (“Administrative Agent”) for the Lenders under that certain Credit Agreement dated as of February 6, 2020 (as amended, supplemented or otherwise modified
from time to time, the “Credit Agreement”) among Tampa Electric Company, a Florida 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 Closing Date (unless such representation or warranty expressly relates to another time). 

3. There exists no Event of Default or Inchoate Default as of the Closing 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. 

 

			
	TAMPA ELECTRIC COMPANY
		
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit G-2 

 EXHIBIT H-1 

to the Credit Agreement 

February 6, 2020 
 Wells Fargo Bank,
National Association, as Administrative Agent for 
 the Lenders under the Credit Agreement described below, 

and the Lenders under such Credit Agreement 
 1525 West W.T.
Harris Boulevard 
 Charlotte, NC 28262 
  

	 	Re:    Credit	 Agreement for Tampa Electric Company 

Ladies and Gentlemen: 
 As Associate General
Counsel of Tampa Electric Company, a Florida corporation (the “Company”), I have acted as counsel to the Company in connection with the Credit Agreement dated as of the date hereof among the Company, Wells Fargo Bank, National Association,
as Administrative Agent (the “Administrative Agent”) and the Lenders party thereto (the “Lenders”) (the “Credit Agreement”). This opinion is being delivered pursuant to Section 3.1.4 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, have examined and relied on originals or copies of the
Credit Agreement and the form of Notes to be issued by the Company pursuant to Section 2.1.5 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 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 knowledge” or equivalent words with respect to a matter means that nothing has come to my attention in the course of my
representation of the Company which would lead me to question such matter but that, except as expressly stated, I have not made any special investigation with respect thereto. 

In my examination I 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 as originals, the conformity to original documents of all documents submitted to me 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 TECO Services, Inc. who are more familiar with such matters. This opinion speaks only as of its date, and I
undertake no obligation to update it for any subsequent events or legal developments. 
 I am a member of the Florida Bar, and I express no
opinion as to the laws of any other jurisdiction other than the applicable laws of the State of Florida. I do not express any opinion concerning matters governed by any securities laws of the State of Florida. 

  
 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 of the opinion that: 
 1. The Company is validly existing as a corporation in good
standing under the laws of the State of Florida, and has the corporate power to execute and deliver the Credit Documents and to perform its obligations thereunder. 

2. The Company has duly authorized the Credit Documents to which it is a party and has executed and delivered the Credit Agreement. 

3. All consents, governmental approvals, licenses or authorizations (including from the Florida Public Service 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 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 prior written consent for any other purpose or by anyone else. I consent to reliance on the opinions expressed herein, solely in connection with the Credit Documents, by any
successor Administrative Agent or party that becomes a Lender 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
successor Administrative Agent or Lender 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 successor Administrative Agent or Lender
becomes an Administrative Agent or Lender, including any circumstances relating to changes in law, facts or any other developments known to or reasonably knowable by such successor Administrative Agent or Lender at such time, (b) my 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 successor Administrative Agent or
Lender 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,
	
	Michelle V. Szekeres
	Associate General Counsel

  
 Exhibit H-1-2 

 EXHIBIT H-2  

to the Credit Agreement 
 February 6,
2020 
 Wells Fargo Bank, National Association, as Administrative Agent for 

the Lenders under the Credit Agreement described below, 
 and the
Lenders under such Credit Agreement 
 1525 West W.T. Harris Boulevard 

Charlotte, NC 28262 
  

	 	Re:	 Credit Agreement for Tampa Electric Company 

Ladies and Gentlemen: 
 We are furnishing this
opinion to you pursuant to Section 3.1.4 of the Credit Agreement (the “Credit Agreement”) dated as of the date hereof, among Tampa Electric Company (the “Company”), as borrower, Wells Fargo Bank, National
Association, as Administrative Agent (the “Administrative Agent”), and the Lenders party thereto (the “Lenders”). 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 and the form of Notes to be issued by the Company pursuant to Section 2.1.5 of the Credit Agreement (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, or any of the Lenders is a party constitutes its valid and binding obligation. 

The opinions rendered herein are limited solely to provisions of the following applicable laws, as currently in effect: (a) the federal
laws of the United States of America, (b) the Florida Business Corporation Act, and (c) the laws of the State of New York, provided, however, that the opinions expressed herein are based upon a review of only those statutes, rules and
regulations that, in our experience, are directly applicable to the transactions contemplated in the Credit Documents and in any event the laws described in clauses (a) through (c) above shall not include (and we express no opinion as to) the
Employee Retirement Income Security Act of 1974, as amended, or any tax, antitrust, environmental, or unfair competition laws or any rules or regulations with respect thereto, any laws, regulations, executive orders or government programs designed
to combat terrorism, money laundering or racketeering, any local or state laws governing licenses, permits and approvals necessary for the conduct of the Company’s business, any zoning, land use, resource recovery laws or regulations, or,
except as set forth in paragraph 5 below, any state or federal securities laws, and we express no opinion as to any other laws, statutes, rules or regulations not specifically identified above or otherwise excluded in this opinion letter. 

References in this opinion to matters known to us limit the statement to 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. 

  
 Exhibit H-2-1 

 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 Florida and has the
corporate power to enter into and perform its obligations under the Credit Documents. 
 2. The Credit Agreement has been duly authorized,
executed and delivered by the Company and constitutes its valid and binding obligations enforceable against it in accordance with their terms. The Notes have been duly authorized by the Company, and each Note, when executed and delivered for value,
will constitute its valid and binding obligation enforceable against the Company in accordance with its terms. 
 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 written contract, indenture, mortgage, deed of trust, loan or credit agreement, note, lease or any other agreement or instrument that is listed as an exhibit to the Company’s Form
10-K for the year ended December 31, 2018, (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. 
 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; 

  
 Exhibit H-2-2 

	 	(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; 

 

	 	(vi)	 the enforceability of any grant of exclusive jurisdiction; and 

 

	 	(vii)	 the enforceability of Section 8.20 of the Credit Agreement or the effects of any provision in the Credit
Agreement relating to Bail-In Legislation, action by an EEA Resolution Authority, Write-Down and Conversion Powers or a Bail-In Action or the effect any such provision
or of Bail-In Legislation generally on the obligations of the Company under the Credit Agreement or any other Credit Document. 

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. 
 Insofar
as our opinions concern the enforceability of the choice of New York law and the permissive rather than exclusive choice of New York forum provisions of the Credit Agreement, such opinions are rendered in reliance upon New York General Obligations
Law §§ 5-1401 and 5-1402 (the “GOL”) and New York Civil Practice Law and Rules 327(b) (collectively, with the GOL, the “Act”) and is
subject to the qualifications that (i) such enforceability may be limited by public policy consideration of any jurisdiction, other than the courts of the State of New York, in which enforcement of such provisions, or of a judgment upon an
agreement containing such provisions, is sought; (ii) the application of New York law pursuant to the Act to a transaction that has no contact or only insignificant contact with New York State may be subject to constitutional limitations and
may not be given effect in jurisdictions other than New York; (iii) we express no opinion as to whether such provisions are effective to establish subject matter jurisdiction in any court, and (iv) without limitation to the foregoing, in
connection with any provision of any Credit Document whereby the Company submits to the jurisdiction of any federal court of the United States of America sitting in the Southern District of New York, we note the limitations of and the possible
effects of the application or 28 U.S.C. §§1331 and 1332 on federal court jurisdiction or venue. 
 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
successor Administrative Agent or party that becomes a Lender 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
successor Administrative Agent or Lender 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 successor Administrative Agent or Lender
becomes an Administrative Agent or Lender, including any circumstances relating to changes in law, facts or any other developments known to or reasonably knowable by such successor Administrative Agent or Lender 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 successor Administrative Agent or
Lender 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,
	
	LOCKE LORD LLP

  
 Exhibit H-2-3 

 EXHIBIT H-3  

to the Credit Agreement 

February 6, 2020 
 To the Lenders party to
the 
 Credit Agreement referred to below and 
 Wells Fargo
Bank, National Association, as Administrative Agent 
 Ladies and Gentlemen: 

We have acted as special New York counsel to Wells Fargo Bank, National Association (“Wells Fargo”), as Administrative Agent,
in connection with the Credit Agreement dated as of February 6, 2020 (the “Credit Agreement”) among Tampa Electric Company (the “Borrower”), the lenders 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. 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 has 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. 

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. 
 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) We express no opinion as to any provision, however expressed, providing for (i) a limitation on reliance, exculpation,
disclaimer, limitation or extension of liability, limitation or exclusion of remedies, contribution, indemnification, or waiver, or (ii) the shortening or lengthening the period suit otherwise could be brought under the applicable statute of
limitations. 

  
 Exhibit H-3-1 

 (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 Wells Fargo as the Administrative Agent pursuant to Section 3.1.4 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

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