Document:

Exhibit 10.2

 

Execution Version

 

Addendum To Pledge Agreement

 

Reference is hereby
made to the Pledge Agreement (the “Pledge Agreement”) dated as of May 3, 2011 by Northeast Ohio Natural Gas
Corp., Orwell Natural Gas Company, Brainard Gas Corp., Great Plains Natural Gas Company, Lightning Pipeline Company, Inc., Spelman
Pipeline Holdings, LLC, Kidron Pipeline, LLC, Gas Natural Service Company, LLC, Gas Natural Inc., Independence Oil, L.L.C., Independence
Oil Real Estate 1, L.L.C., Independence Oil Real Estate 2, L.L.C., 8500 Station Street LLC and Gas Natural Resources LLC (collectively,
the “Initial Pledgors”) and any new Subsidiary of any Initial Pledgor, whether now existing or hereafter formed
or acquired, which becomes party to the Pledge Agreement by executing an Addendum thereto (collectively, together with the Initial
Pledgors, and in each case with its respective successors and assigns, including debtors-in-possession on behalf thereof, the “Pledgors”
and, individually, a “Pledgor”), for the benefit of Sun Life Assurance Company of Canada,
as the Secured Party. Capitalized terms used herein and not defined herein shall have the meanings given to them in the Pledge
Agreement. By its execution below, the undersigned Lone Wolfe Insurance, LLC, an Ohio limited liability company (the “New
Pledgor”), agrees to become, and does hereby become, a Pledgor under the Pledge Agreement and agrees to be bound by such
Pledge Agreement as if originally a party thereto. By its execution below, the undersigned New Pledgor represents and warrants
as to itself that all of the representations and warranties contained in Section 4 of the Pledge Agreement are true and correct
in all respects of the date hereof. The New Pledgor represents and warrants that the Schedule A attached hereto sets forth all
information required to be scheduled under the original Schedule A to the Pledge Agreement and that the attached Schedule A is
true and correct in all respects. The New Pledgor shall take all steps necessary to perfect, in favor of the Secured Party, a first-priority
security interest in and lien against the New Pledgor’s Pledged Collateral, including, without limitation, taking all steps
necessary to properly perfect the Secured Party’s interest in any uncertificated equity or membership interests.

 

     

    	 

    

 

IN WITNESS WHEREOF,
the undersigned New Pledgor, has executed and delivered this Addendum to Pledge Agreement as of this 14th day of December, 2015.

 

	 	Lone Wolfe Insurance, LLC, an Ohio limited liability company
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	Address for Notices:	1375 E 9th Street, Suite 3100
	 	 	Cleveland, OH 44011
	 	 	 
	 	Fax:	216-938-7944

 

     

    	 

    

 

Description of Pledged Collateral

 

	 PLEDGOR AND PLEDGOR’S 

JURISDICTION OF 

FORMATION/ORGANIZATION	PLEDGED SHARES AND

CERTIFICATE NUMBERS
	 	 
	Gas Natural Inc., an Ohio corporation	
        Lightning Pipeline Company, Inc.

        1,000,000 shares of common stock

        Certificate no. 19

	 	 
	Gas Natural Inc., an Ohio
    corporation 	Great Plains Natural Gas Company 2,000,000 shares of common stock
    certificate no. 28
	 	 
	Gas Natural Inc., an Ohio
    corporation 	
        Brainard Gas Corp.

        100 shares of common stock certificate no. 3

	 	 
	Gas Natural Inc., an Ohio
    corporation 	100% membership interest in Independence Oil,
    L.L.C.(non-certificated)
	 	 
	Gas Natural Inc., an Ohio
    corporation 	100% membership interest in Gas Natural Service Company, LLC
    (non-certificated)
	 	 
	Gas Natural Inc., an Ohio corporation 	100% membership interest in Gas Natural Resources, LLC
    (non-certificated) 
	 	 
	Gas Natural Inc., an Ohio
    corporation 	100% membership interest in Lone Wolfe
    Insurance, LLC (non-certificated)
	 	 
	
        Great Plains Natural Gas Company, an Ohio
corporation 
	Northeast Ohio Natural Gas Corp. 100
    shares of common stock certificate no. 2 
	 	 
	Lightning Pipeline Company, Inc., an
    Ohio corporation 	Orwell Natural Gas Company 2,100 shares
    of common stock certificate no. A 
	 	 
	Northeast Ohio Natural Gas
    Corporation, an Ohio corporation 	100% membership interest in Kidron
    Pipeline, LLC (non-certificated)
	 	 
	Northeast Ohio Natural Gas
    Corporation, an Ohio corporation 	100% membership interest in 8500
    Station Street LLC (non-certificated)

 

SCHEDULE A

(Addendum to Pledge Agreement)

 

     

    	 

    

 

	Independence Oil, L.L.C., a North Carolina limited liability
    company	
        100% membership in Independence
Oil

Real Estate 1, L.L.C., Independence Oil

Real Estate 2, L.L.C., and Independence

Real Estate 3, L.L.C. (non-certificated)

 

SCHEDULE A-2

(Addendum to Pledge Agreement)Exhibit 10.3

 

Execution Version

 

Addendum To Security Agreement

 

Reference is hereby
made to the Security Agreement (the “Security Agreement”) dated as of May 3, 2011 by Northeast Ohio Natural
Gas Corp., Orwell Natural Gas Company, Brainard Gas Corp., Great Plains Natural Gas Company, Lightning Pipeline Company, Inc.,
Spelman Pipeline Holdings, LLC, Kidron Pipeline, LLC, Gas Natural Service Company, LLC, Gas Natural Inc., Independence Oil, L.L.C.,
Independence Oil Real Estate 1, L.L.C., Independence Oil Real Estate 2, L.L.C., and 8500 Station Street LLC and Gas Natural Resources
LLC (collectively, the “Initial Grantors”) and any new Subsidiary of any Initial Grantor, whether now existing
or hereafter formed or acquired, which becomes party to the Security Agreement by executing an Addendum thereto (collectively,
together with the Initial Grantors, and in each case with its respective successors and assigns, including debtors-in-possession
on behalf thereof, the “Grantors” and, individually, a “Grantor”), for the benefit of Sun
Life Assurance Company of Canada, as the Secured Party. Capitalized terms used herein
and not defined herein shall have the meanings given to them in the Security Agreement. By its execution below, Lone Wolfe Insurance,
LLC, an Ohio limited liability company (the “New Guarantor”), agrees to become, and does hereby become, a Grantor
under the Security Agreement and agrees to be bound by such Security Agreement as if originally a party thereto. By its execution
below, the undersigned New Guarantor represents and warrants as to itself that all of the representations and warranties contained
in Section 3 of the Security Agreement are true and correct in all respects of the date hereof. The New Guarantor represents and
warrants that the Schedule A attached hereto sets forth all information required to be scheduled under the original Schedule A
to the Security Agreement and that the attached Schedule A is true and correct in all respects. The New Guarantor shall take all
steps necessary to perfect, in favor of the Secured Party, a first-priority security interest in and lien against the New Guarantor’s
Collateral.

 

     

     

    

  

IN WITNESS WHEREOF,
the undersigned New Guarantor, has executed and delivered this Addendum to Security Agreement as of this 14th day of December,
2015.

 

	 	Lone Wolfe Insurance, LLC, an Ohio limited 

liability company
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	Address for Notices:	1375 E 9th Street, Suite 3100
	 	 	Cleveland, OH 44011
	 	 	 
	 	Fax:	216-938-7944

 

     

     

    

 

Security Interest Data Summary

 

1.           (a)           The chief executive
office of Northeast Ohio Natural Gas Corp. (“NEO”), Orwell Natural Gas Company (“Orwell”),
Brainard Gas Corp., (“Brainard”), Great Plains Natural Gas Company (“Great Plains”),
Lightning Pipeline Company, Inc. (“Lightning”), Gas Natural Service Company, LLC (“Service Company”),
Independence Oil, L.L.C. (“Independence”), Independence Oil Real Estate 1, L.L.C. (“Independence
RE 1”), Independence Oil Real Estate 2, L.L.C. (“Independence RE 2”), (“Spelman Pipeline Holdings,
LLC (“Spelman”), Kidron Pipeline, LLC (“Kidron”), 8500 Station Street LLC (“Station
Street”), Gas Natural Resources LLC (“Resources”) and Lone Wolfe Insurance, LLC (“Lone Wolfe”)
is located at:

 

1375 East 9th Street, Suite
3100

Cleveland, Ohio 44011

 

		(b)	Gas Natural Inc. (the “Parent”) is located
at:

 

1375 East 9th Street,
Suite 3100

Cleveland, Ohio 44011

 

2.           (a)          NEO’s true and full name is as follows:
Northeast Ohio Natural Gas Corp.

NEO uses the following trade
names or fictitious names: None.

 

		(b)	Orwell’s true and full name is as follows: Orwell Natural Gas Company

Orwell uses the following trade names or fictitious
names: “Clarion River Gas Company” and “Walker Gas Company.”

 

		(c)	Brainard’s true and full name is as follows: Brainard
Gas Corp.

Brainard uses the following trade names or
fictitious names: None.

 

		(d)	Great Plains’ true and full name is as follows: Great Plains Natural Gas Company.

Great Plains uses the following trade names
or fictitious names: None.

 

		(e)	Lightning’s true and full name is as follows: Lightning
Pipeline Company, Inc.

Lightning uses the following trade names
or fictitious names: None

 

		(f)	Parent’s true and full name is as follows: Gas Natural
Inc.

Parent uses the following trade names or
fictitious names: None.

 

		(g)	Service Company’s true and full name is as follows: Gas Natural Service Company, LLC.

Service Company uses the following trade names or fictitious
names: None.

 

Schedule
A

(Addendum
to Security Agreement)

 

     

     

    

 

		(h)	Independence’s true and full name is as follows: Independence Oil, L.L.C.

Independence uses the following trade names
or fictitious names: None.

 

		(i)	Independence RE 1’s true and full name is as follows: Independence Oil Real Estate 1, L.L.C.

Independence RE 1 uses the following
trade names or fictitious names: None.

 

		(j)	Independence RE 2’s true and full name is as follows: Independence Oil Real Estate 2, L.L.C.

Independence RE 2 uses the following trade names or
fictitious names: None.

 

		(k)	Spelman’s true and full name is as follows: Spelman Pipeline Holdings, LLC

Spelman uses the following trade names or fictitious
names: None.

 

		(l)	Kidron’s true and full name is as follows: Kidron Pipeline, LLC

Kidron uses the following trade names or fictitious
names: None.

 

		(m)	Station Street’s true and full name is as follows:
8500 Station Street LLC

Station Street uses the following
trade names or fictitious names: None

 

		(n)	Resources true and full name is as follows: Gas Natural
Resources LLC

Resources uses the following trade
names or fictitious names: None

 

		(o)	Lone Wolfe’s true and full name is as follows: Lone
Wolfe Insurance LLC

Lone Wolfe uses the following
trade names or fictitious names: None

 

3.          (a)          NEO’s
form of organization is as follows: Corporation.

 

		(b)	Orwell’s form of organization is as follows: Corporation.

 

		(c)	Brainard’s form of organization is as follows: Corporation.

 

		(d)	Great Plains’ form of organization is as follows: Corporation.

 

		(e)	Lightning’s form of organization is as follows: Corporation.

 

		(f)	Parent’s form of organization is as follows: Corporation.

 

		(g)	Service Company’s form of organization is as follows: Limited Liability Company.

 

		(h)	Independence’s form of organization is as follows: Limited Liability Company.

 

		(i)	Independence RE 1’s form of organization is as follows: Limited Liability Company.

 

    	 	A-2	 

     

    

 

		(j)	Independence RE 2’s form of organization is as follows: Limited Liability Company.

 

		(k)	Spelman’s form of organization is as follows: Limited
Liability Company.

 

		(l)	Kidron’s form of organization is as follows: Limited
Liability Company.

 

		(m)	Station Street’s form of organization is as follows: Limited Liability Company.

 

		(n)	Resources’ form of organization is as follows: Limited Liability Company.

 

		(o)	Lone Wolfe’s form of organization is as follows: Limited Liability Company.

 

4.           (a)          NEO’s
state of organization is as follows: Ohio.

 

		(b)	Orwell’s state of organization is as follows: Ohio.

 

		(c)	Brainard’s state of organization is as follows: Ohio.

 

		(d)	Great Plains’ state of organization is as follows:
Ohio.

 

		(e)	Lightning’s state of organization is as follows:
Ohio.

 

		(f)	Parent’s state of organization is as follows: Ohio.

 

		(g)	Service Company’s state of organization is as follows: Ohio.

 

		(h)	Independence’s state of organization is as follows: North Carolina

 

		(i)	Independence RE 1’s state of organization is as follows: North Carolina.

 

		(j)	Independence RE 2’s state of organization is as follows: North Carolina.

 

		(k)	Spelman’s state of organization is as follows: Ohio.

 

		(l)	Kidron’s state of organization is as follows: Ohio.

 

		(m)	Station Street’s state of organization is as follows:
Ohio.

 

		(n)	Resources’ state of organization is as follows: Ohio.

 

		(o)	Lone Wolfe’s state of organization is as follows:
Ohio.

 

    	 	A-3	 

     

    

 

5.           (a)          NEO’s
organization ID # (if any exists) is 809172.

 

		(b)	Orwell’s organization ID # (if any exists) is 683340.

 

		(c)	Brainard’s organization ID # (if any exists) is 1081707.

 

		(d)	Great Plains’ organization ID# (if any exists) is
1377445.

 

		(e)	Lightning’s organization ID # (if any exists) is
1288176.

 

		(f)	Parent’s organization ID # (if any exists) is 1947340.

 

		(g)	Service Company’s organization ID # (if any exists)
is 1973976.

 

		(h)	Independence’s organization ID# (if any exists) is
1209576.

 

		(i)	Independence RE 1’s organization ID# (if any exists) is 1214290.

 

		(j)	Independence RE 2’s organization ID# (if any exists)
is 1214351.

 

		(k)	Spelman’s organization ID # (if any exists) is 2009003.

 

		(l)	Kidron’s organization ID # (if any exists) is 1924168.

 

		(m)	Station Street’s organization ID # (if any exists)
is 2167115.

 

		(n)	Resources’ organization ID # (if any exists) is 2190462.

 

		(o)	Lone Wolfe’ organization ID# (if any exists) is 2151117.

 

		6.	All of the Grantors’ personal property which has not been delivered to the Secured Party pursuant to the terms of this
Agreement or the Note Purchase Agreements is now, and will be at all future times, located at such Grantor’s chief executive
office as described in Paragraph 1 above, except as specified below:

 

		(a)	NEO: All Collateral kept at address listed in item 1 above or one of the following addresses:

 

5640 Lancaster-Newark Road, Pleasantville,
OH 43148-9705

9081 State Route 250, Strasburg,
OH 44680

 

		(b)	Orwell: All Collateral kept at either the address listed in item 1 above or one of the following addresses:

 

95 East Main Street, Orwell, OH
44076

8470 Station
Street, Mentor, OH 44060

 

		(c)	Brainard: All Collateral kept at either the address listed in item 1 above or at:

 

95 East Main Street, Orwell,
OH 44076.

 

    	 	A-4	 

     

    

 

		(d)	Great Plains: All Collateral kept at the address listed
in item 1 above.

 

		(e)	Lightning: All Collateral kept at the address listed in
item 1 above.

 

		(f)	Parent: All Collateral kept at the address listed in item
1 above.

 

		(g)	Service Company: All Collateral kept at the address listed
in item 1 above.

 

		(h)	Independence: All Collateral kept at either the address listed in item 1 or one of the following addresses:

 

407 Lumber Lane, Independence VA 24348

 

		(i)	Independence RE 1: All Collateral kept at either the address listed in item 1 or the following address:

 

167 Smethport Drive, West Jefferson, NC 28694

 

		(j)	Independence RE 2: All Collateral kept at either the address listed in item 1 or the following address:

 

0.325 acre tract adjacent to Macedonia Road, Sparta,
NC 28675

 

		(k)	Spelman: All Collateral kept at either the address listed in item 1 above or the following address:

 

		(1)	Land located at intersection of U.S. Highway 30-S and Big Island Twp. Rd. 98 in Marion County, Ohio

		(2)	Land located at Stumbo Road, in Village of Ontario (Springfield Township) in Richland County, Ohio

		(3)	Land located on north side of U.S. Highway 31-E in LaRue County, Kentucky

 

		(l)	Kidron: All Collateral kept at the address listed in item
1 above.

 

		(m)	Station Street: All Collateral kept at the address listed
in item 1 above.

 

		(n)	Resources: All Collateral kept at the address listed in
item 1 above.

 

		(o)	Lone Wolfe: All Collateral kept at the address listed in
item 1 above.

 

    	 	A-5	 

     

    

 

		7.	All of the Grantors’ books and records, including those relating to accounts payable and
accounts receivable, are kept at such Grantor’s chief executive office as described in Paragraph 1 above, except as specified
below:

 

		(a)	NEO: All books and records kept either at the address listed in item 1 above or one of the addresses listed in item 6(a) above.

 

		(b)	Orwell: All books and records kept either at the address listed in item 1 above or one of the addresses listed in item 6(b)
above.

 

		(c)	Brainard: All books and records kept either at the address listed in item 1 above or one of the addresses listed in item 6(c)
above.

 

		(d)	Great Plains: All books and records kept at the address
listed in item 1 above.

 

		(e)	Lightning: All books and records kept at the address listed
in item 1 above.

 

		(f)	Parent: All books and records kept at the address listed
in item 1 above.

 

		(g)	Service Company: All books and records kept at the address listed in item 1 above.

 

		(h)	Independence: All books and records kept either at the address listed in item 1 above or one of the addresses listed in item
6(h) above.

 

		(i)	Independence RE 1: All books and records kept either at the address listed in item 1 above or the address listed in item 6(i)
above.

 

		(j)	Independence RE 2: All books and records kept either at the address listed in item 1 above the address listed in item 6(j)
above.

 

		(k)	Spelman: All books and records kept at the address listed
in item 1 above.

 

		(l)	Kidron: All books and records kept at the address listed
in item 1 above.

 

		(m)	Station Street: All books and records kept at the address
listed in item 1 above.

 

		(n)	Resources: All books and records kept at the address listed
in item 1 above.

 

		(o)	Lone Wolfe: All books and records kept at the address listed
in item 1 above.

 

    	 	A-6

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