Document:

LHC Group, Inc. 2010 Long-Term Incentive Plan

 Exhibit 10.1 

 
  

 
 LHC GROUP,
INC. 
 2010 LONG-TERM INCENTIVE PLAN 

 
  

 
  

 LHC GROUP, INC. 

2010 LONG-TERM INCENTIVE PLAN 
  

					
			
	 ARTICLE 1
	  	 PURPOSE
	  	A-1
			
	 1.1
	  	 General
	  	A-1
			
	 ARTICLE 2
	  	 DEFINITIONS
	  	A-1
			
	 2.1
	  	 Definitions
	  	A-1
			
	 ARTICLE 3
	  	 EFFECTIVE TERM OF PLAN
	  	A-6
			
	 3.1
	  	 Effective Date
	  	A-6
			
	 3.2
	  	 Term of Plan
	  	A-6
			
	 ARTICLE 4
	  	 ADMINISTRATION
	  	A-6
			
	 4.1
	  	 Committee
	  	A-6
			
	 4.2
	  	 Actions and Interpretations by the Committee
	  	A-6
			
	 4.3
	  	 Authority of Committee
	  	A-6
			
	 4.4
	  	 Delegation
	  	A-7
			
	 4.5
	  	 Indemnification
	  	A-7
			
	 ARTICLE 5
	  	 SHARES SUBJECT TO THE PLAN
	  	A-8
			
	 5.1
	  	 Number of Shares
	  	A-8
			
	 5.2
	  	 Share Counting
	  	A-8
			
	 5.3
	  	 Stock Distributed
	  	A-8
			
	 5.4
	  	 Limitation on Awards
	  	A-8
			
	 5.5
	  	 Minimum Vesting Requirements
	  	A-9
			
	 ARTICLE 6
	  	 ELIGIBILITY
	  	A-9
			
	 6.1
	  	 General
	  	A-9
			
	 ARTICLE 7
	  	 STOCK OPTIONS
	  	A-9
			
	 7.1
	  	 General
	  	A-9
			
	 7.2
	  	 Incentive Stock Options
	  	A-10
			
	 ARTICLE 8
	  	 STOCK APPRECIATION RIGHTS
	  	A-10
			
	 8.1
	  	 Grant of Stock Appreciation Rights
	  	A-10
			
	 ARTICLE 9
	  	 RESTRICTED STOCK, RESTRICTED STOCK UNITS AND DEFERRED STOCK UNITS
	  	A-11
			
	 9.1
	  	 Grant of Restricted Stock, Restricted Stock Units and Deferred Stock Units
	  	A-11
			
	 9.2
	  	 Issuance and Restrictions
	  	A-11
			
	 9.3
	  	 Dividends on Restricted Stock
	  	A-11
			
	 9.4
	  	 Forfeiture
	  	A-11
			
	 9.5
	  	 Delivery of Restricted Stock
	  	A-11
			
	 ARTICLE 10
	  	 PERFORMANCE AWARDS
	  	A-12
			
	 10.1
	  	 Grant of Performance Awards
	  	A-12
			
	 10.2
	  	 Performance Goals
	  	A-12
			
	 ARTICLE 11
	  	 QUALIFIED STOCK-BASED AWARDS
	  	A-12
			
	 11.1
	  	 Options and Stock Appreciation Rights
	  	A-12

					
	 11.2
	  	 Other Awards
	  	A-12
			
	 11.3
	  	 Performance Goals
	  	A-13
			
	 11.4
	  	 Inclusions and Exclusions from Performance Criteria
	  	A-13
			
	 11.5
	  	 Certification of Performance Goals
	  	A-14
			
	 11.6
	  	 Award Limits
	  	A-14
			
	 ARTICLE 12
	  	 DIVIDEND EQUIVALENTS
	  	A-14
			
	 12.1
	  	 Grant of Dividend Equivalents
	  	A-14
			
	 ARTICLE 13
	  	 STOCK OR OTHER STOCK-BASED AWARDS
	  	A-15
			
	 13.1
	  	 Grant of Stock or Other Stock-Based Awards
	  	A-15
			
	 ARTICLE 14
	  	 PROVISIONS APPLICABLE TO AWARDS
	  	A-15
			
	 14.1
	  	 Award Certificates
	  	A-15
			
	 14.2
	  	 Form of Payment of Awards
	  	A-15
			
	 14.3
	  	 Limits on Transfer
	  	A-15
			
	 14.4
	  	 Beneficiaries
	  	A-15
			
	 14.5
	  	 Stock Trading Restrictions
	  	A-15
			
	 14.6
	  	 Acceleration upon Death, Disability or Retirement
	  	A-16
			
	 14.7
	  	 Acceleration upon Certain Terminations Following a Change in Control
	  	A-16
			
	 14.8
	  	 Forfeiture Events
	  	A-16
			
	 14.9
	  	 Substitute Awards
	  	A-16
			
	 ARTICLE 15
	  	 CHANGES IN CAPITAL STRUCTURE
	  	A-16
			
	 15.1
	  	 Mandatory Adjustments
	  	A-16
			
	 15.2
	  	 Discretionary Adjustments
	  	A-17
			
	 15.3
	  	 General
	  	A-17
			
	 ARTICLE 16
	  	 AMENDMENT, MODIFICATION AND TERMINATION
	  	A-17
			
	 16.1
	  	 Amendment, Modification and Termination
	  	A-17
			
	 16.2
	  	 Awards Previously Granted
	  	A-18
			
	 16.3
	  	 Compliance Amendments
	  	A-18
			
	 ARTICLE 17
	  	 GENERAL PROVISIONS
	  	A-18
			
	 17.1
	  	 Rights of Participants
	  	A-18
			
	 17.2
	  	 Withholding
	  	A-19
			
	 17.3
	  	 Special Provisions Related to Section 409A of the Code
	  	A-19
			
	 17.4
	  	 Unfunded Status of Awards
	  	A-20
			
	 17.5
	  	 Relationship to Other Benefits
	  	A-20
			
	 17.6
	  	 Expenses
	  	A-20
			
	 17.7
	  	 Titles and Headings
	  	A-20
			
	 17.8
	  	 Gender and Number
	  	A-20
			
	 17.9
	  	 Fractional Shares
	  	A-20
			
	 17.10
	  	 Government and Other Regulations
	  	A-20
			
	 17.11
	  	 Governing Law
	  	A-21
			
	 17.12
	  	 Severability
	  	A-21
			
	 17.13
	  	 No Limitations on Rights of Company
	  	A-21

  

 2 

 LHC GROUP, INC. 

2010 LONG-TERM INCENTIVE PLAN 

ARTICLE 1 

PURPOSE 
 
1.1. GENERAL. The purpose of the LHC Group, Inc. 2010 Long-Term Incentive Plan (the “Plan”) is to promote the success, and enhance the value, of LHC Group, Inc. (the “Company”), by linking the personal interests of
employees, officers, directors and consultants of the Company or any Affiliate (as defined below) to those of Company stockholders and by providing such persons with an incentive for outstanding performance. The Plan is further intended to provide
flexibility to the Company in its ability to motivate, attract, and retain the services of employees, officers, directors and consultants upon whose judgment, interest, and special effort the successful conduct of the Company’s operation is
largely dependent. Accordingly, the Plan permits the grant of incentive awards from time to time to selected employees, officers, directors and consultants of the Company and its Affiliates. 

ARTICLE 2 

DEFINITIONS 

2.1. DEFINITIONS. When a word or phrase appears in this Plan with the initial letter capitalized, and
the word or phrase does not commence a sentence, the word or phrase shall generally be given the meaning ascribed to it in this Section or in Section 1.1 unless a clearly different meaning is required by the context. The following words and
phrases shall have the following meanings: 
 (a) “Affiliate” means (i) any Subsidiary or Parent,
or (ii) an entity that directly or through one or more intermediaries controls, is controlled by or is under common control with, the Company, as determined by the Committee. 

(b) “Award” means an award of Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Deferred Stock Units, Performance Awards, Dividend Equivalents, Other Stock-Based Awards, or any other right or interest relating to Stock or cash, granted to a Participant under the Plan. 

(c) “Award Certificate” means a written document, in such form as the Committee prescribes from time to time,
setting forth the terms and conditions of an Award. Award Certificates may be in the form of individual award agreements or certificates or a program document describing the terms and provisions of an Award or series of Awards under the Plan. The
Committee may provide for the use of electronic, internet or other non-paper Award Certificates, and the use of electronic, internet or other non-paper means for the acceptance thereof and actions thereunder by a Participant. 

(d) “Beneficial Owner” shall have the meaning given such term in Rule 13d-3 of the General Rules and Regulations
under the 1934 Act. 
 (e) “Board” means the Board of Directors of the Company. 

(f) “Cause” as a reason for a Participant’s termination of employment shall have the meaning assigned such
term in the employment agreement, if any, between such Participant and the Company or an Affiliate, provided, however that if there is no such employment agreement in which such term is defined, and unless otherwise defined in the applicable Award
Certificate, “Cause” shall mean any of the following acts by the Participant, as determined by the Board: gross neglect of duty, prolonged absence from duty without the consent of the Company, intentionally engaging in any activity that is
in conflict with or adverse to the business or other interests of the Company, or willful misconduct, misfeasance or malfeasance of duty which is reasonably determined to be detrimental to the Company. With respect to a Participant’s
termination of directorship, “Cause” means an act or failure to act that constitutes cause for removal of a director under applicable Delaware law. The determination of the Committee as to the existence of “Cause” shall be
conclusive on the Participant and the Company. 

 (g) “Change of Control” means and includes the occurrence of any
one of the following events: 
 (i) individuals who, on the Effective Date, constitute the Board of Directors of
the Company (the “Incumbent Directors”) cease for any reason to constitute at least a majority of such Board, provided that any person becoming a director after the Effective Date and whose election or nomination for election was approved
by a vote of at least a majority of the Incumbent Directors then on the Board shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or
threatened election contest with respect to the election or removal of directors (“Election Contest”) or other actual or threatened solicitation of proxies or consents by or on behalf of any “Person” (such term for purposes of
this definition being as defined in Section 3(a)(9) of the 1934 Act and as used in Section 13(d)(3) and 14(d)(2) of the 1934 Act) other than the Board (“Proxy Contest”), including by reason of any agreement intended to avoid or
settle any Election Contest or Proxy Contest, shall be deemed an Incumbent Director; or 
 (ii) any Person is or
becomes a Beneficial Owner, directly or indirectly, of either (A) 30% or more of the then-outstanding shares of common stock of the Company (“Company Common Stock”) or (B) securities of the Company representing 30% or more of the
combined voting power of the Company’s then outstanding securities eligible to vote for the election of directors (the “Company Voting Securities”); provided, however, that for purposes of this subsection (ii), the
following acquisitions shall not constitute a Change of Control: (v) an acquisition directly from the Company, (w) an acquisition by the Company or a Subsidiary of the Company, (x) an acquisition by a Person who is on the Effective
Date the Beneficial Owner, directly or indirectly, of 50% or more of the Company Common Stock or the Company Voting Securities, (y) an acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any
Subsidiary of the Company, or (z) an acquisition pursuant to a Non-Qualifying Transaction (as defined in subsection (iii) below); or 

(iii) the consummation of a reorganization, merger, consolidation, statutory share exchange or similar form of corporate
transaction involving the Company or a Subsidiary (a “Reorganization”), or the sale or other disposition of all or substantially all of the Company’s assets (a “Sale”) or the acquisition of assets or stock of another
corporation (an “Acquisition”), unless immediately following such Reorganization, Sale or Acquisition: (A) all or substantially all of the individuals and entities who were the Beneficial Owners, respectively, of the outstanding
Company Common Stock and outstanding Company Voting Securities immediately prior to such Reorganization, Sale or Acquisition beneficially own, directly or indirectly, more than 60% of, respectively, the then outstanding shares of common stock and
the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Reorganization, Sale or Acquisition (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets or stock either directly or through one or more subsidiaries, the “Surviving Corporation”) in
substantially the same proportions as their ownership, immediately prior to such Reorganization, Sale or Acquisition, of the outstanding Company Common Stock and the outstanding Company Voting Securities, as the case may be, and (B) no Person
(other than (x) the Company or any Subsidiary of the Company, (y) the Surviving Corporation or its ultimate parent corporation, or (z) any employee benefit plan (or related trust) sponsored or maintained by any of the foregoing is the
Beneficial Owner, directly or indirectly, of 30% or more of the total common stock or 30% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Surviving Corporation, and (C) at least a
majority of the members of the board of directors of the Surviving Corporation were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Reorganization, Sale or Acquisition (any
Reorganization, Sale or Acquisition which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a “Non-Qualifying Transaction”); or 

(iv) approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

 

 A-2 

 (h) “Code” means the Internal Revenue Code of 1986, as amended
from time to time. For purposes of this Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 

(i) “Committee” means the committee of the Board described in Article 4. 

(j) “Company” means LHC Group, Inc., a Delaware corporation, or any successor corporation. 

(k) “Continuous Service” means the absence of any interruption or termination of service as an employee,
officer, consultant or director of the Company or any Affiliate, as applicable; provided, however, that for purposes of an Incentive Stock Option “Continuous Service” means the absence of any interruption or termination of service as an
employee of the Company or any Parent or Subsidiary, as applicable, pursuant to applicable tax regulations. Continuous Service shall not be considered interrupted in the following cases: (i) a Participant transfers employment between the
Company and an Affiliate or between Affiliates, or (ii) in the discretion of the Committee as specified at or prior to such occurrence, in the case of a spin-off, sale or disposition of the Participant’s employer from the Company or any
Affiliate, or (iii) any leave of absence authorized in writing by the Company prior to its commencement; provided, however, that for purposes of Incentive Stock Options, no such leave may exceed 90 days, unless reemployment upon expiration of
such leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, on the 91st day of such leave any Incentive Stock Option held by the Participant shall cease to be
treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. Whether military, government or other service or other leave of absence shall constitute a termination of Continuous Service shall be
determined in each case by the Committee at its discretion, and any determination by the Committee shall be final and conclusive; provided, however, that for purposes of any Award that is subject to Code Section 409A, the determination of a
leave of absence must comply with the requirements of a “bona fide leave of absence” as provided in Treas. Reg. Section 1.409A-1(h). 

(l) “Covered Employee” means a covered employee as defined in Code Section 162(m)(3). 

(m) “Deferred Stock Unit” means a right granted to a Participant under Article 9 to receive Shares (or the
equivalent value in cash or other property if the Committee so provides) at a future time as determined by the Committee, or as determined by the Participant within guidelines established by the Committee in the case of voluntary deferral elections.

 (n) “Disability” of a Participant has the same meaning as provided in the long-term disability plan
or policy maintained by the Company or if applicable, most recently maintained, by the Company or if applicable, an Affiliate, for the Participant, whether or not such Participant actually receives disability benefits under such plan or policy. If
no long-term disability plan or policy was ever maintained on behalf of Participant or if the determination of Disability relates to an Incentive Stock Option, Disability means Permanent and Total Disability as defined in Section 22(e)(3) of
the Code. In the event of a dispute, the determination whether a Participant is Disabled will be made by the Committee and may be supported by the advice of a physician competent in the area to which such Disability relates. 

(o) “Dividend Equivalent” means a right granted to a Participant under Article 12. 

(p) “Effective Date” has the meaning assigned such term in Section 3.1. 

(q) “Eligible Participant” means an employee (including a leased employee), officer, consultant or director of
the Company or any Affiliate. 
 (r) “Exchange” means any national securities exchange on which the
Stock may from time to time be listed or traded. 
 (s) “Fair Market Value,” on any date, means
(i) if the Stock is listed on a securities exchange, the closing sales price on the principal such exchange on such date or, in the absence of reported sales on such date, the closing sales price on the immediately preceding date on which sales
were reported, or (ii) if the 
  

 A-3 

 
Stock is not listed on a securities exchange, the mean between the bid and offered prices as quoted by the applicable interdealer quotation system for such date, provided that if the Stock is not
quoted on an interdealer quotation system or it is determined that the fair market value is not properly reflected by such quotations, Fair Market Value will be determined by such other method as the Committee determines in good faith to be
reasonable and in compliance with Code Section 409A. 
 (t) “Full-Value Award” means an Award
other than in the form of an Option or SAR, and which is settled by the issuance of Stock (or at the discretion of the Committee, settled in cash valued by reference to Stock value). 

(u) “Good Reason” has the meaning assigned such term in the employment agreement, if any, between a Participant
and the Company or an Affiliate, provided, however that if there is no such employment agreement in which such term is defined, and unless otherwise defined in the applicable Award Certificate, “Good Reason” shall mean any of the following
acts by the Company or an Affiliate without the consent of the Participant (in each case, other than an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company or an Affiliate promptly after receipt
of notice thereof given by the Participant): (i) the assignment to the Participant of duties materially inconsistent with, or a material diminution in, the Participant’s position, authority, duties or responsibilities as in effect
immediately prior to a Change of Control, (ii) a reduction by the Company or an Affiliate in the Participant’s base salary, (iii) the Company or an Affiliate requiring the Participant, without his or her consent, to be based at any
office or location more than 35 miles from the location at which the Participant was stationed immediately prior to a Change of Control, or (iv) the continuing material breach by the Company or an Affiliate of any employment agreement between
the Participant and the Company or an Affiliate after the expiration of any applicable period for cure. 
 (v)
“Grant Date” of an Award means the first date on which all necessary corporate action has been taken to approve the grant of the Award as provided in the Plan, or such later date as is determined and specified as part of that authorization
process. Notice of the grant shall be a provided to the grantee within a reasonable time after the Grant Date. 

(w) “Incentive Stock Option” means an Option that is intended to be an incentive stock option and meets the
requirements of Section 422 of the Code or any successor provision thereto. 
 (x) “Independent
Directors” means those members of the Board of Directors who qualify at any given time as (a) an “independent” director under the applicable rules of each Exchange on which the Shares are listed, (b) a
“non-employee” director under Rule 16b-3 of the 1934 Act, and (c) an “outside” director under Section 162(m) of the Code. 

(y) “Non-Employee Director” means a director of the Company who is not a common law employee of the Company or
an Affiliate. 
 (z) “Nonstatutory Stock Option” means an Option that is not an Incentive Stock Option.

 (aa) “Option” means a right granted to a Participant under Article 7 of the Plan to purchase Stock
at a specified price during specified time periods. An Option may be either an Incentive Stock Option or a Nonstatutory Stock Option. 

(bb) “Other Stock-Based Award” means a right, granted to a Participant under Article 13, that relates to or is
valued by reference to Stock or other Awards relating to Stock. 
 (cc) “Parent” means a corporation,
limited liability company, partnership or other entity which owns or beneficially owns a majority of the outstanding voting stock or voting power of the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Parent shall have
the meaning set forth in Section 424(e) of the Code. 
 (dd) “Participant” means an Eligible
Participant who has been granted an Award under the Plan; provided that in the case of the death of a Participant, the term “Participant” refers to a beneficiary 

 

 A-4 

 
designated pursuant to Section 14.4 or the legal guardian or other legal representative acting in a fiduciary capacity on behalf of the Participant under applicable state law and court
supervision. 
 (ee) “Performance Award” means any award granted under the Plan pursuant to Article 10.

 (ff) “Person” means any individual, entity or group, within the meaning of Section 3(a)(9) of
the 1934 Act and as used in Section 13(d)(3) or 14(d)(2) of the 1934 Act. 
 (gg) “Plan” means the
LHC Group, Inc. 2010 Long-Term Incentive Plan, as amended from time to time. 
 (hh) “Qualified
Performance-Based Award” means an Award that is either (i) intended to qualify for the Section 162(m) Exemption and is made subject to performance goals based on Qualified Business Criteria as set forth in Section 11.2, or
(ii) an Option or SAR having an exercise price equal to or greater than the Fair Market Value of the underlying Stock as of the Grant Date. 

(ii) “Qualified Business Criteria” means one or more of the Business Criteria listed in Section 11.2 upon
which performance goals for certain Qualified Performance-Based Awards may be established by the Committee. 

(jj) “Restricted Stock” means Stock granted to a Participant under Article 9 that is subject to certain
restrictions and to risk of forfeiture. 
 (kk) “Restricted Stock Unit” means the right granted to a
Participant under Article 9 to receive shares of Stock (or the equivalent value in cash or other property if the Committee so provides) in the future, which right is subject to certain restrictions and to risk of forfeiture. 

(ll) “Retirement” means a Participant’s termination of employment with the Company or an Affiliate
(i) after attaining age 62, or (ii) after attaining age 55 and having at least 10 years of service with the Company or an Affiliate. 

(mm) “Section 162(m) Exemption” means the exemption from the limitation on deductibility imposed by
Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code or any successor provision thereto. 

(nn) “Shares” means shares of the Company’s Stock. If there has been an adjustment or substitution pursuant
to Article 15, the term “Shares” shall also include any shares of stock or other securities that are substituted for Shares or into which Shares are adjusted pursuant to Article 15. 

(oo) “Stock” means the $0.01 par value common stock of the Company and such other securities of the Company as
may be substituted for Stock pursuant to Article 15. 
 (pp) “Stock Appreciation Right” or
“SAR” means a right granted to a Participant under Article 8 to receive a payment equal to the difference between the Fair Market Value of a Share as of the date of exercise of the SAR over the base price of the SAR, all as determined
pursuant to Article 8. 
 (qq) “Subsidiary” means any corporation, limited liability company,
partnership or other entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Company. Notwithstanding the above, with respect to an Incentive Stock Option, Subsidiary shall have
the meaning set forth in Section 424(f) of the Code. 
 (rr) “1933 Act” means the Securities Act
of 1933, as amended from time to time. 
 (ss) “1934 Act” means the Securities Exchange Act of 1934, as
amended from time to time. 
  

 A-5 

 ARTICLE 3 

EFFECTIVE TERM OF PLAN 

3.1. EFFECTIVE DATE. Subject to the approval of the Plan by the Company’s stockholders within 12
months after the Plan’s adoption by the Board, the Plan will become effective on the date that it is adopted by the Board (the “Effective Date”). 

3.2. TERMINATION OF PLAN. Unless earlier terminated as provided herein, the Plan shall continue in
effect until the tenth anniversary of the Effective Date or, if the stockholders approve an amendment to the Plan that increases the number of Shares subject to the Plan, the tenth anniversary of the date of such approval. The termination of the
Plan on such date shall not affect the validity of any Award outstanding on the date of termination, which shall continue to be governed by the applicable terms and conditions of the Plan. 

ARTICLE 4 

ADMINISTRATION 

4.1. COMMITTEE. The Plan shall be administered by a Committee appointed by the Board (which Committee
shall consist of at least two directors) or, at the discretion of the Board from time to time, the Plan may be administered by the Board. It is intended that at least two of the directors appointed to serve on the Committee shall be Independent
Directors and that any such members of the Committee who do not so qualify shall abstain from participating in any decision to make or administer Awards that are made to Eligible Participants who at the time of consideration for such Award
(i) are persons subject to the short-swing profit rules of Section 16 of the 1934 Act, or (ii) are reasonably anticipated to become Covered Employees during the term of the Award. However, the mere fact that a Committee member shall
fail to qualify as an Independent Director or shall fail to abstain from such action shall not invalidate any Award made by the Committee which Award is otherwise validly made under the Plan. The members of the Committee shall be appointed by, and
may be changed at any time and from time to time in the discretion of, the Board. Unless and until changed by the Board, the Compensation Committee of the Board is designated as the Committee to administer the Plan. The Board may reserve to itself
any or all of the authority and responsibility of the Committee under the Plan or may act as administrator of the Plan for any and all purposes. To the extent the Board has reserved any authority and responsibility or during any time that the Board
is acting as administrator of the Plan, it shall have all the powers and protections of the Committee hereunder, and any reference herein to the Committee (other than in this Section 4.1) shall include the Board. To the extent any action of the
Board under the Plan conflicts with actions taken by the Committee, the actions of the Board shall control. 
 
4.2. ACTION AND INTERPRETATIONS BY THE COMMITTEE. For purposes of administering the Plan, the Committee may from time to time adopt rules, regulations, guidelines and procedures for carrying out the provisions and purposes of the Plan and
make such other determinations, not inconsistent with the Plan, as the Committee may deem appropriate. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award in the manner and to the
extent it deems necessary to carry out the intent of the Plan. The Committee’s interpretation of the Plan, any Awards granted under the Plan, any Award Certificate and all decisions and determinations by the Committee with respect to the Plan
are final, binding, and conclusive on all parties. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any
Affiliate, the Company’s or an Affiliate’s independent certified public accountants, Company counsel or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. No
member of the Committee will be liable for any good faith determination, act or omission in connection with the Plan or any Award. 

4.3. AUTHORITY OF COMMITTEE. Except as provided in Section 4.1 and 4.5 hereof, the Committee
has the exclusive power, authority and discretion to: 
  

	 	(a)	Grant Awards; 

  

 A-6 

	 	(b)	Designate Participants; 

(c) Determine the type or types of Awards to be granted to each Participant; 

(d) Determine the number of Awards to be granted and the number of Shares or dollar amount to which an Award will relate;

 (e) Determine the terms and conditions of any Award granted under the Plan; 

(f) Prescribe the form of each Award Certificate, which need not be identical for each Participant; 

(g) Decide all other matters that must be determined in connection with an Award; 

(h) Establish, adopt or revise any rules, regulations, guidelines or procedures as it may deem necessary or advisable to
administer the Plan; 
 (i) Make all other decisions and determinations that may be required under the Plan or as
the Committee deems necessary or advisable to administer the Plan; 
 (j) Amend the Plan or any Award Certificate
as provided herein; and 
 (k) Adopt such modifications, procedures, and subplans as may be necessary or
desirable to comply with provisions of the laws of the United States or any non-U.S. jurisdictions in which the Company or any Affiliate may operate, in order to assure the viability of the benefits of Awards granted to participants located in the
United States or such other jurisdictions and to further the objectives of the Plan. 
 Notwithstanding the foregoing, grants of
Awards to Non-Employee Directors hereunder shall be made only in accordance with the terms, conditions and parameters of a plan, program or policy for the compensation of Non-Employee Directors as in effect from time to time, and the Committee may
not make discretionary grants hereunder to Non-Employee Directors. 
 4.4. DELEGATION. The
Board may, by resolution, expressly delegate to a special committee, consisting of one or more directors who may but need not be officers of the Company, the authority, within specified parameters as to the number and terms of Awards, to
(i) designate officers and/or employees of the Company or any of its Affiliates to be recipients of Awards under the Plan, and (ii) to determine the number of such Awards to be received by any such Participants; provided, however, that
such delegation of duties and responsibilities to an officer of the Company may not be made with respect to the grant of Awards to eligible participants (a) who are subject to Section 16(a) of the 1934 Act at the Grant Date, or
(b) who as of the Grant Date are reasonably anticipated to be become Covered Employees during the term of the Award. The acts of such delegates shall be treated hereunder as acts of the Board and such delegates shall report regularly to the
Board and the Compensation Committee regarding the delegated duties and responsibilities and any Awards so granted. 
 
4.5. INDEMNIFICATION. Each person who is or shall have been a member of the Committee, or of the Board, or an officer of the Company to whom authority was delegated in accordance with this Article 4 shall be indemnified and held
harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a
party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in
satisfaction of any judgment in any such action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it
on his or her own behalf, unless such loss, cost, liability, or expense is a result of his or her own willful misconduct or except as expressly provided by statute. The foregoing right of indemnification shall not be exclusive of any other rights of
indemnification to which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 

 

 A-7 

 ARTICLE 5 

SHARES SUBJECT TO THE PLAN 

5.1. NUMBER OF SHARES. Subject to adjustment as provided in Sections 5.2 and Section 15.1, the
aggregate number of Shares reserved and available for issuance pursuant to Awards granted under the Plan shall be 1,500,000. The maximum number of Shares that may be issued upon exercise of Incentive Stock Options granted under the Plan shall be
1,500,000. From and after the Effective Date, no further awards shall be granted under the Prior Plan, and the Prior Plan shall remain in effect only so long as awards granted thereunder shall remain outstanding. 

5.2. SHARE COUNTING. Shares covered by an Award shall be subtracted from the Plan share reserve as
of the Grant Date, but shall be added back to the Plan share reserve in accordance with this Section 5.2. 

(a) To the extent that an Award is canceled, terminates, expires, is forfeited or lapses for any reason, any unissued or
forfeited Shares originally subject to the Award will be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

(b) Shares subject to Awards settled in cash will be added back to the Plan share reserve and again be available for
issuance pursuant to Awards granted under the Plan. 
 (c) Shares withheld or repurchased from an Award or
delivered by a Participant to satisfy minimum tax withholding requirements will be added back to the Plan share reserve and again be available for issuance pursuant to Awards granted under the Plan. 

(d) If the exercise price of an Option is satisfied in whole or in part by delivering Shares to the Company (by either
actual delivery or attestation), the number of Shares so tendered (by delivery or attestation) shall be added to the Plan share reserve and will be available for issuance pursuant to Awards granted under the Plan. 

(e) To the extent that the full number of Shares subject to an Option or SAR is not issued upon exercise of the Option or
SAR for any reason, including by reason of net-settlement of the Award, the unissued Shares originally subject to the Award will be added back to the Plan share reserve and again be available for issuance pursuant to other Awards granted under the
Plan. 
 (f) To the extent that the full number of Shares subject to an Award other than an Option or SAR is not
issued for any reason, including by reason of failure to achieve maximum performance goals, the unissued Shares originally subject to the Award will be added back to the Plan share reserve and again be available for issuance pursuant to Awards
granted under the Plan. 
 (g) Substitute Awards granted pursuant to Section 14.9 of the Plan shall not
count against the Shares otherwise available for issuance under the Plan under Section 5.1. 
 (h) Subject
to applicable Exchange requirements, shares available under a stockholder-approved plan of a company acquired by the Company (as appropriately adjusted to Shares to reflect the transaction) may be issued under the Plan pursuant to Awards granted to
individuals who were not employees of the Company or its Affiliates immediately before such transaction and will not count against the maximum share limitation specified in Section 5.1. 

5.3. STOCK DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in whole or in part,
of authorized and unissued Stock, treasury Stock or Stock purchased on the open market. 
 5.4.
LIMITATION ON AWARDS. Notwithstanding any provision in the Plan to the contrary (but subject to adjustment as provided in Article 15): 

(a) Options. The maximum aggregate number of Shares subject to Options granted under the Plan in any 12-month
period to any one Participant shall be 500,000. 
  

 A-8 

 (b) SARs. The maximum number of Shares subject to Stock Appreciation
Rights granted under the Plan in any 12-month period to any one Participant shall be 500,000. 
 (c)
Restricted Stock or Restricted Stock Units. The maximum aggregate number of Shares underlying of Awards of Restricted Stock or Restricted Stock Units under the Plan in any 12-month period to any one Participant shall be 500,000. 

(d) Other Stock-Based Awards. The maximum aggregate grant with respect to Other Stock-Based Awards under the Plan
in any 12-month period to any one Participant shall be 500,000 Shares. 
 (e) Cash-Based Awards. The
maximum aggregate amount that may be paid with respect to cash-based Awards under the Plan to any one Participant in any fiscal year of the Company shall be $2,000,000. 

5.5. MINIMUM VESTING REQUIREMENTS . Full-Value Awards granted under the Plan to an Eligible
Participant shall either (i) be subject to a minimum vesting period of three years (which may include graduated vesting within such three-year period), or one year if the vesting is based on performance criteria other than continued service, or
(ii) be granted solely in exchange for foregone cash compensation. Notwithstanding the foregoing, (i) the Committee may permit acceleration of vesting of such Full-Value Awards in the event of the Participant’s death, Disability, or
Retirement, or the occurrence of a Change in Control (subject to the requirements of Article 11 in the case of Qualified Performance-Based Awards), and (ii) the Committee may grant Full-Value Awards covering 10% or fewer of the total number of
shares authorized under the Plan without respect to the above-described minimum vesting requirements. 
 
ARTICLE 6 
 ELIGIBILITY 

6.1. GENERAL. Awards may be granted only to Eligible Participants. Incentive Stock Options may be
granted only to Eligible Participants who are employees of the Company or a Parent or Subsidiary as defined in Section 424(e) and (f) of the Code. Eligible Participants who are service providers to an Affiliate may be granted Options or
SARs under this Plan only if the Affiliate qualifies as an “eligible issuer of service recipient stock” within the meaning of §1.409A-1(b)(5)(iii)(E) of the final regulations under Code Section 409A. 

ARTICLE 7 

STOCK OPTIONS 

7.1. GENERAL. The Committee is authorized to grant Options to Participants on the following terms
and conditions: 
 (a) EXERCISE PRICE. The exercise price per Share under an Option shall be determined by
the Committee, provided that the exercise price for any Option (other than an Option issued as a substitute Award pursuant to Section 14.9) shall not be less than the Fair Market Value as of the Grant Date. 

(b) PROHIBITION ON REPRICING. Except as otherwise provided in Section 15.1, the exercise price of an Option
may not be reduced, directly or indirectly by cancellation and regrant or otherwise, without the prior approval of the stockholders of the Company. 

(c) TIME AND CONDITIONS OF EXERCISE. The Committee shall determine the time or times at which an Option may be
exercised in whole or in part, subject to Section 7.1(e), including a provision that an Option that is otherwise exercisable and has an exercise price that is less than the Fair Market Value of the Stock on the last day of its term will be
automatically exercised on such final date of the term by means of a “net exercise,” thus entitling the optionee to Shares equal to the intrinsic value of the Option on such exercise date, less the number of Shares required for tax
withholding. The Committee shall also determine the performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised or vested. 

 

 A-9 

 (d) PAYMENT. The Committee shall determine the methods by which the
exercise price of an Option may be paid, the form of payment, and the methods by which Shares shall be delivered or deemed to be delivered to Participants. As determined by the Committee at or after the Grant Date, payment of the exercise price of
an Option may be made in, in whole or in part, in the form of (i) cash or cash equivalents, (ii) delivery (by either actual delivery or attestation) of previously-acquired Shares based on the Fair Market Value of the Shares on the date the
Option is exercised, (iii) withholding of Shares from the Option based on the Fair Market Value of the Shares on the date the Option is exercised, (iv) broker-assisted market sales, or (iv) any other “cashless exercise”
arrangement. 
 (e) EXERCISE TERM. Except for Nonstatutory Options granted to Participants outside the
United States, no Option granted under the Plan shall be exercisable for more than ten years from the Grant Date. 

(f) NO DEFERRAL FEATURE. No Option shall provide for any feature for the deferral of compensation other than the
deferral of recognition of income until the exercise or disposition of the Option. 
 (g) NO DIVIDEND
EQUIVALENTS. No Option shall provide for Dividend Equivalents. 
 7.2. INCENTIVE STOCK
OPTIONS. The terms of any Incentive Stock Options granted under the Plan must comply with the requirements of Section 422 of the Code. Without limiting the foregoing, any Incentive Stock Option granted to a Participant who at the Grant Date
owns more than 10% of the voting power of all classes of shares of the Company must have an exercise price per Share of not less than 110% of the Fair Market Value per Share on the Grant Date and an Option term of not more than five years. If all of
the requirements of Section 422 of the Code (including the above) are not met, the Option shall automatically become a Nonstatutory Stock Option. 

ARTICLE 8 

STOCK APPRECIATION RIGHTS 

8.1. GRANT OF STOCK APPRECIATION RIGHTS. The Committee is authorized to grant Stock Appreciation
Rights to Participants on the following terms and conditions: 
 (a) RIGHT TO PAYMENT. Upon the exercise
of a SAR, the Participant has the right to receive, for each Share with respect to which the SAR is being exercised, the excess, if any, of: 

(1) The Fair Market Value of one Share on the date of exercise; over 

(2) The base price of the SAR as determined by the Committee and set forth in the Award Certificate, which shall not be
less than the Fair Market Value of one Share on the Grant Date. 
 (b) PROHIBITION ON REPRICING. Except as
otherwise provided in Section 15.1, the base price of a SAR may not be reduced, directly or indirectly by cancellation and regrant or otherwise, without the prior approval of the stockholders of the Company. 

(c) TIME AND CONDITIONS OF EXERCISE. The Committee shall determine the time or times at which a SAR may be
exercised in whole or in part, including a provision that a SAR that is otherwise exercisable and has a base price that is less than the Fair Market Value of the Stock on the last day of its term will be automatically exercised on such final date of
the term, thus entitling the holder to cash or Shares equal to the intrinsic value of the SAR on such exercise date, less the cash or number of Shares required for tax withholding. Except for SARs granted to Participants outside the United States,
no SAR shall be exercisable for more than ten years from the Grant Date. 
 (d) NO DEFERRAL FEATURE. No
SAR shall provide for any feature for the deferral of compensation other than the deferral of recognition of income until the exercise or disposition of the SAR. 

(e) NO DIVIDEND EQUIVALENTS. No SAR shall provide for Dividend Equivalents. 

 

 A-10 

 (f) OTHER TERMS. All SARs shall be evidenced by an Award Certificate.
Subject to the limitations of this Article 8, the terms, methods of exercise, methods of settlement, form of consideration payable in settlement (e.g., cash, Shares or other property), and any other terms and conditions of the SAR shall be
determined by the Committee at the time of the grant and shall be reflected in the Award Certificate. 
 
ARTICLE 9 
 RESTRICTED STOCK, RESTRICTED STOCK UNITS 

AND DEFERRED STOCK UNITS 

9.1. GRANT OF RESTRICTED STOCK, RESTRICTED STOCK UNITS AND DEFERRED STOCK UNITS. The Committee is
authorized to make Awards of Restricted Stock, Restricted Stock Units or Deferred Stock Units to Participants in such amounts and subject to such terms and conditions as may be selected by the Committee. An Award of Restricted Stock, Restricted
Stock Units or Deferred Stock Units shall be evidenced by an Award Certificate setting forth the terms, conditions, and restrictions applicable to the Award. 

9.2. ISSUANCE AND RESTRICTIONS. Restricted Stock, Restricted Stock Units or Deferred Stock Units
shall be subject to such restrictions on transferability and other restrictions as the Committee may impose (including, for example, limitations on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These
restrictions may lapse separately or in combination at such times, under such circumstances, in such installments, upon the satisfaction of performance goals or otherwise, as the Committee determines at the time of the grant of the Award or
thereafter. Except as otherwise provided in an Award Certificate or any special Plan document governing an Award, a Participant shall have none of the rights of a stockholder with respect to Restricted Stock Units or Deferred Stock Units until such
time as Shares of Stock are paid in settlement of such Awards. 
 9.3
DIVIDENDS ON RESTRICTED STOCK. In the case of Restricted Stock, the Committee may provide that ordinary cash dividends declared on the Shares before they are vested (i) will be forfeited, (ii) will be deemed to have been reinvested
in additional Shares or otherwise reinvested (subject to Share availability under Section 5.1 hereof), or (iii) in the case of Restricted Stock that is not subject to performance-based vesting, will be paid or distributed to the
Participant as accrued (in which case, such dividends must be paid or distributed no later than the
15th day of the
3rd month following the later of (A) the calendar
year in which the corresponding dividends were paid to stockholders, or (B) the first calendar year in which the Participant’s right to such dividends is no longer subject to a substantial risk of forfeiture). Unless otherwise provided by
the Committee, dividends accrued on Shares of Restricted Stock before they are vested shall, as provided in the Award Certificate, either (i) be reinvested in the form of additional Shares, which shall be subject to the same vesting provisions
as provided for the host Award, or (ii) be credited by the Company to an account for the Participant and accumulated without interest until the date upon which the host Award becomes vested, and any dividends accrued with respect to forfeited
Restricted Stock will be reconveyed to the Company without further consideration or any act or action by the Participant. 
 
9.4. FORFEITURE. Subject to the terms of the Award Certificate and except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of Continuous Service during the applicable
restriction period or upon failure to satisfy a performance goal during the applicable restriction period, Restricted Stock or Restricted Stock Units that are at that time subject to restrictions shall be forfeited. 

9.5. DELIVERY OF RESTRICTED STOCK. Shares of Restricted Stock shall be delivered to the Participant
at the Grant Date either by book-entry registration or by delivering to the Participant, or a custodian or escrow agent (including, without limitation, the Company or one or more of its employees) designated by the Committee, a stock certificate or
certificates registered in the name of the Participant. If physical certificates representing shares of Restricted Stock are registered in the name of the Participant, such certificates must bear an appropriate legend referring to the terms,
conditions, and restrictions applicable to such Restricted Stock. 
  

 A-11 

 ARTICLE 10 

PERFORMANCE AWARDS 

10.1. GRANT OF PERFORMANCE AWARDS. The Committee is authorized to grant any Award under this Plan,
including cash-based Awards, with performance-based vesting criteria, on such terms and conditions as may be selected by the Committee. Any such Awards with performance-based vesting criteria are referred to herein as Performance Awards. The
Committee shall have the complete discretion to determine the number of Performance Awards granted to each Participant, subject to Section 5.4, and to designate the provisions of such Performance Awards as provided in Section 4.3. All
Performance Awards shall be evidenced by an Award Certificate or a written program established by the Committee, pursuant to which Performance Awards are awarded under the Plan under uniform terms, conditions and restrictions set forth in such
written program. 
 10.2. PERFORMANCE GOALS. The Committee may establish performance goals
for Performance Awards which may be based on any criteria selected by the Committee. Such performance goals may be described in terms of Company-wide objectives or in terms of objectives that relate to the performance of the Participant, an
Affiliate or a division, region, department or function within the Company or an Affiliate. If the Committee determines that a change in the business, operations, corporate structure or capital structure of the Company or the manner in which the
Company or an Affiliate conducts its business, or other events or circumstances render performance goals to be unsuitable, the Committee may modify such performance goals in whole or in part, as the Committee deems appropriate. If a Participant is
promoted, demoted or transferred to a different business unit or function during a performance period, the Committee may determine that the performance goals or performance period are no longer appropriate and may (i) adjust, change or
eliminate the performance goals or the applicable performance period as it deems appropriate to make such goals and period comparable to the initial goals and period, or (ii) make a cash payment to the participant in an amount determined by the
Committee. The foregoing two sentences shall not apply with respect to a Performance Award that is intended to be a Qualified Performance-Based Award if the recipient of such award (a) was a Covered Employee on the date of the modification,
adjustment, change or elimination of the performance goals or performance period, or (b) in the reasonable judgment of the Committee, may be a Covered Employee on the date the Performance Award is expected to be paid. 

ARTICLE 11 

QUALIFIED PERFORMANCE-BASED AWARDS 

11.1. OPTIONS AND STOCK APPRECIATION RIGHTS. The provisions of the Plan are intended to ensure that
all Options and Stock Appreciation Rights granted hereunder to any Covered Employee shall qualify for the Section 162(m) Exemption. 

11.2. OTHER AWARDS. When granting any other Award, the Committee may designate such Award as a
Qualified Performance-Based Award, based upon a determination that the recipient is or may be a Covered Employee with respect to such Award, and the Committee wishes such Award to qualify for the Section 162(m) Exemption. If an Award is so
designated, the Committee shall establish performance goals for such Award within the time period prescribed by Section 162(m) of the Code based on one or more of the following Qualified Business Criteria, which may be expressed in terms of
Company-wide objectives or in terms of objectives that relate to the performance of an Affiliate or a division, region, department or function within the Company or an Affiliate: 

 

	 	—	 	 Revenue 

  

	 	—	 	 Sales 

  

	 	—	 	 Profit (net profit, gross profit, operating profit, economic profit, profit margins or other corporate profit measures) 

 

 A-12 

	 	—	 	 Earnings (EBIT, EBITDA, earnings per share, or other corporate earnings measures) 

 

	 	—	 	 Net income (before or after taxes, operating income or other income measures) 

	 	—	 	 Cash (cash flow, cash generation or other cash measures) 

 

	 	—	 	 Stock price or performance 

  

	 	—	 	 Total stockholder return (stock price appreciation plus reinvested dividends divided by beginning share price) 

 

	 	—	 	 Economic value added 

  

	 	—	 	 Return measures (including, but not limited to, return on assets, capital, equity, investments or sales, and cash flow return on assets, capital,
equity, or sales); 

  

	 	—	 	 Market share 

  

	 	—	 	 Improvements in capital structure 

  

	 	—	 	 Expenses (expense management, expense ratio, expense efficiency ratios or other expense measures) 

 

	 	—	 	 Business expansion or consolidation (acquisitions and divestitures) 

 

	 	—	 	 Internal rate of return or increase in net present value 

 

	 	—	 	 Working capital targets relating to inventory and/or accounts receivable 

 

	 	—	 	 Safety standards 

  

	 	—	 	 Productivity measures 

  

	 	—	 	 Cost reduction measures 

  

	 	—	 	 Strategic plan development and implementation 

Performance goals with respect to the foregoing Qualified Business Criteria may be specified in absolute terms, in percentages, or in
terms of growth from period to period or growth rates over time, as well as measured relative to the performance of a group of comparator companies, or a published or special index, or a stock market index, that the Committee deems appropriate. Any
member of a comparator group or an index that ceases to exist during a measurement period shall be disregarded for the entire measurement period. Performance Goals need not be based upon an increase or positive result under a business criterion and
could include, for example, the maintenance of the status quo or the limitation of economic losses (measured, in each case, by reference to a specific business criterion). 

11.3. PERFORMANCE GOALS. Each Qualified Performance-Based Award (other than a market-priced Option
or SAR) shall be earned, vested and payable (as applicable) only upon the achievement of performance goals established by the Committee based upon one or more of the Qualified Business Criteria, together with the satisfaction of any other
conditions, such as continued employment, as the Committee may determine to be appropriate; provided, however, that the Committee may provide, either in connection with the grant thereof or by amendment thereafter, that achievement of such
performance goals will be waived, in whole or in part, upon (i) the termination of employment of a Participant by reason of death or Disability, or (ii) the occurrence of a Change of Control. Performance periods established by the
Committee for any such Qualified Performance-Based Award may be as short as three months and may be any longer period. In addition, the Committee has the right, in connection with the grant of a Qualified Performance-Based Award, to exercise
negative discretion to determine that the portion of such Award actually earned, vested and/or payable (as applicable) shall be less than the portion that would be earned, vested and/or payable based solely upon application of the applicable
performance goals. 
 11.4. INCLUSIONS AND EXCLUSIONS FROM PERFORMANCE CRITERIA. The
Committee may provide in any Qualified Performance-Based Award, at the time the performance goals are established, that any evaluation of performance shall exclude or otherwise objectively adjust for any specified circumstance or event

  

 A-13 

 
that occurs during a performance period, including by way of example but without limitation the following: (a) asset write-downs or impairment charges; (b) litigation or claim judgments
or settlements; (c) the effect of changes in tax laws, accounting principles or other laws or provisions affecting reported results; (d) accruals for reorganization and restructuring programs; (e) extraordinary nonrecurring items as
described in then-current accounting principles; (f) extraordinary nonrecurring items as described in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to
stockholders for the applicable year; (g) acquisitions or divestitures; and (h) foreign exchange gains and losses. To the extent such inclusions or exclusions affect Awards to Covered Employees, they shall be prescribed in a form that
meets the requirements of Code Section 162(m) for deductibility. 
 11.5. CERTIFICATION OF
PERFORMANCE GOALS. Any payment of a Qualified Performance-Based Award granted with performance goals pursuant to Section 11.3 above shall be conditioned on the written certification of the Committee in each case that the performance goals
and any other material conditions were satisfied. Except as specifically provided in Section 11.3, no Qualified Performance-Based Award held by a Covered Employee or by an employee who in the reasonable judgment of the Committee may be a
Covered Employee on the date of payment, may be amended, nor may the Committee exercise any discretionary authority it may otherwise have under the Plan with respect to a Qualified Performance-Based Award under the Plan, in any manner to waive the
achievement of the applicable performance goal based on Qualified Business Criteria or to increase the amount payable pursuant thereto or the value thereof, or otherwise in a manner that would cause the Qualified Performance-Based Award to cease to
qualify for the Section 162(m) Exemption. 
 11.6. AWARD LIMITS. Section 5.4 sets
forth (i) the maximum number of Shares that may be granted in any 12-month period to a Participant in designated forms of stock-based Awards, and (ii) the maximum aggregate dollar amount that may be paid with respect to cash-based Awards
under the Plan to any one Participant in any fiscal year of the Company. 
 ARTICLE 12

 DIVIDEND EQUIVALENTS 

12.1. GRANT OF DIVIDEND EQUIVALENTS. The Committee is authorized to grant
Dividend Equivalents with respect to Full-Value Awards granted hereunder, subject to such terms and conditions as may be selected by the Committee. Dividend Equivalents shall entitle the Participant to receive payments equal to ordinary cash
dividends or distributions with respect to all or a portion of the number of Shares subject to a Full-Value Award, as determined by the Committee. The Committee may provide that Dividend Equivalents (i) will be deemed to have been reinvested in
additional Shares or otherwise reinvested, or (ii) except in the case of Performance Awards, will be paid or distributed to the Participant as accrued (in which case, such Dividend Equivalents must be paid or distributed no later than the 15
th day of the
3rd month following the later of (A) the calendar
year in which the corresponding dividends were paid to stockholders, or (B) the first calendar year in which the Participant’s right to such Dividends Equivalents is no longer subject to a substantial risk of forfeiture). Unless otherwise
provided by the Committee, Dividend Equivalents accruing on unvested Full-Value Awards shall, as provided in the Award Certificate, either (i) be reinvested in the form of additional Shares, which shall be subject to the same vesting provisions
as provided for the host Award, or (ii) be credited by the Company to an account for the Participant and accumulated without interest until the date upon which the host Award becomes vested, and any Dividend Equivalents accrued with respect to
forfeited Awards will be reconveyed to the Company without further consideration or any act or action by the Participant. 
  

 A-14 

 ARTICLE 13 

STOCK OR OTHER STOCK-BASED AWARDS 

13.1. GRANT OF STOCK OR OTHER STOCK-BASED AWARDS. The Committee is authorized, subject to
limitations under applicable law, to grant to Participants such other Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to Shares, as deemed by the Committee to be consistent with the purposes
of the Plan, including without limitation (but subject to the last sentence of Section 5.5) Shares awarded purely as a “bonus” and not subject to any restrictions or conditions, convertible or exchangeable debt securities, other
rights convertible or exchangeable into Shares, and Awards valued by reference to book value of Shares or the value of securities of or the performance of specified Parents or Subsidiaries. The Committee shall determine the terms and conditions of
such Awards. 
 ARTICLE 14 

PROVISIONS APPLICABLE TO AWARDS 

14.1. AWARD CERTIFICATES. Each Award shall be evidenced by an Award Certificate. Each Award
Certificate shall include such provisions, not inconsistent with the Plan, as may be specified by the Committee. 
 
14.2. FORM OF PAYMENT FOR AWARDS. At the discretion of the Committee, payment of Awards may be made in cash, Stock, a combination of cash and Stock, or any other form of property as the Committee shall determine. In addition, payment of
Awards may include such terms, conditions, restrictions and/or limitations, if any, as the Committee deems appropriate, including, in the case of Awards paid in the form of Stock, restrictions on transfer and forfeiture provisions. Further, payment
of Awards may be made in the form of a lump sum, or in installments, as determined by the Committee. 
 
14.3. LIMITS ON TRANSFER. No right or interest of a Participant in any unexercised or restricted Award may be pledged, encumbered, or hypothecated to or in favor of any party other than the Company or an Affiliate, or shall be subject to
any lien, obligation, or liability of such Participant to any other party other than the Company or an Affiliate. No unexercised or restricted Award shall be assignable or transferable by a Participant other than by will or the laws of descent and
distribution or, except in the case of an Incentive Stock Option, pursuant to a domestic relations order that would satisfy Section 414(p)(1)(A) of the Code if such Section applied to an Award under the Plan; provided, however, that the
Committee may (but need not) permit other transfers (other than transfers for value) where the Committee concludes that such transferability (i) does not result in accelerated taxation, (ii) does not cause any Option intended to be an
Incentive Stock Option to fail to be described in Code Section 422(b), and (iii) is otherwise appropriate and desirable, taking into account any factors deemed relevant, including without limitation, state or federal tax or securities laws
applicable to transferable Awards. 
 14.4. BENEFICIARIES. Notwithstanding
Section 14.3, a Participant may, in the manner determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A
beneficiary, legal guardian, legal representative, or other person claiming any rights under the Plan is subject to all terms and conditions of the Plan and any Award Certificate applicable to the Participant, except to the extent the Plan and Award
Certificate otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Committee. If no beneficiary has been designated or survives the Participant, any payment due to the Participant shall be made to the
Participant’s estate. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant, in the manner provided by the Company, at any time provided the change or revocation is filed with the Committee. 

14.5. STOCK TRADING RESTRICTIONS. All Stock issuable under the Plan is subject to any stop-transfer
orders and other restrictions as the Committee deems necessary or advisable to comply with federal or state securities laws, rules and regulations and the rules of any national securities exchange or automated quotation

  

 A-15 

 
system on which the Stock is listed, quoted, or traded. The Committee may place legends on any Stock certificate or issue instructions to the transfer agent to reference restrictions applicable
to the Stock. 
 14.6. ACCELERATION UPON DEATH, DISABILITY OR RETIREMENT. Except as
otherwise provided in the Award Certificate or any special Plan document governing an Award, upon the termination of a person’s Continuous Service by reason of death or Disability, or upon the Participant’s Retirement: 

(i) all of that Participant’s outstanding Options and SARs shall become fully exercisable; 

(ii) all time-based vesting restrictions on that Participant’s outstanding Awards shall lapse as of the date of
termination; and 
 (iii) the payout opportunities attainable under all of that Participant’s outstanding
performance-based Awards shall be deemed to have been fully earned at the greater of “target” or actual performance as of the date of such termination. 

To the extent that this provision causes Incentive Stock Options to exceed the dollar limitation set forth in Code Section 422(d),
the excess Options shall be deemed to be Nonstatutory Stock Options. 
 14.7. ACCELERATION UPON
CERTAIN TERMINATIONS FOLLOWING A CHANGE OF CONTROL. Except as otherwise provided in the Award Certificate or any special Plan document governing an Award, if a Participant’s employment is terminated without Cause or the Participant resigns
for Good Reason within two years after the effective date of a Change of Control, then (i) all of that Participant’s outstanding Options, SARs and other Awards in the nature of rights that may be exercised shall become fully exercisable,
(ii) all time-based vesting restrictions on the his or her outstanding Awards shall lapse, and (iii) the target payout opportunities attainable under all outstanding of that Participant’s performance-based Awards shall be deemed to
have been fully earned at the greater of “target” or actual performance as of the date of such termination. 
 
14.8. FORFEITURE EVENTS. The Committee may specify in an Award Certificate that the Participant’s rights, payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the
occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, (i) termination of employment for cause, (ii) violation of
material Company or Affiliate policies, (iii) breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant, (iv) other conduct by the Participant that is detrimental to the business or
reputation of the Company or any Affiliate, or (v) a later determination that the vesting of, or amount realized from, a Performance Award was based on materially inaccurate financial statements or any other materially inaccurate performance
metric criteria, whether or not the Participant caused or contributed to such material inaccuracy. 

14.9. SUBSTITUTE AWARDS. The Committee may grant Awards under the Plan in substitution for stock and
stock-based awards held by employees of another entity who become employees of the Company or an Affiliate as a result of a merger or consolidation of the former employing entity with the Company or an Affiliate or the acquisition by the Company or
an Affiliate of property or stock of the former employing corporation. The Committee may direct that the substitute awards be granted on such terms and conditions as the Committee considers appropriate in the circumstances. 

ARTICLE 15 

CHANGES IN CAPITAL STRUCTURE 

15.1. MANDATORY ADJUSTMENTS. In the event of a nonreciprocal transaction between the Company and its
stockholders that causes the per-share value of the Stock to change (including, without limitation, any stock dividend, stock split, spin-off, rights offering, or large nonrecurring cash dividend), the authorization limits under Section 5.1 and
5.4 shall be adjusted proportionately, and the Committee shall make such adjustments to 
  

 A-16 

 
the Plan and Awards as it deems necessary, in its sole discretion, to prevent dilution or enlargement of rights immediately resulting from such transaction. Action by the Committee may include:
(i) adjustment of the number and kind of shares that may be delivered under the Plan; (ii) adjustment of the number and kind of shares subject to outstanding Awards; (iii) adjustment of the exercise price of outstanding Awards or the
measure to be used to determine the amount of the benefit payable on an Award; and (iv) any other adjustments that the Committee determines to be equitable. Notwithstanding the foregoing, the Committee shall not make any adjustments to
outstanding Options or SARs that would constitute a modification or substitution of the stock right under Treas. Reg. Sections 1.409A-1(b)(5)(v) that would be treated as the grant of a new stock right or change in the form of payment for purposes of
Code Section 409A. Without limiting the foregoing, in the event of a subdivision of the outstanding Stock (stock-split), a declaration of a dividend payable in Shares, or a combination or consolidation of the outstanding Stock into a lesser
number of Shares, the authorization limits under Section 5.1 and 5.4 shall automatically be adjusted proportionately, and the Shares then subject to each Award shall automatically, without the necessity for any additional action by the
Committee, be adjusted proportionately without any change in the aggregate purchase price therefor. 
 
15.2 DISCRETIONARY ADJUSTMENTS. Upon the occurrence or in anticipation of any corporate event or transaction involving the Company (including, without limitation, any merger, reorganization, recapitalization, combination or exchange of
shares, or any transaction described in Section 15.1), the Committee may, in its sole discretion, provide (i) that Awards will be settled in cash rather than Stock, (ii) that Awards will become immediately vested and non-forfeitable
and exercisable (in whole or in part) and will expire after a designated period of time to the extent not then exercised, (iii) that Awards will be assumed by another party to a transaction or otherwise be equitably converted or substituted in
connection with such transaction, (iv) that outstanding Awards may be settled by payment in cash or cash equivalents equal to the excess of the Fair Market Value of the underlying Stock, as of a specified date associated with the transaction,
over the exercise or base price of the Award, (v) that performance targets and performance periods for Performance Awards will be modified, consistent with Code Section 162(m) where applicable, or (vi) any combination of the
foregoing. The Committee’s determination need not be uniform and may be different for different Participants whether or not such Participants are similarly situated. 

15.3 GENERAL. Any discretionary adjustments made pursuant to this Article 15 shall be subject to the
provisions of Section 16.2. To the extent that any adjustments made pursuant to this Article 15 cause Incentive Stock Options to cease to qualify as Incentive Stock Options, such Options shall be deemed to be Nonstatutory Stock Options.

 ARTICLE 16 

AMENDMENT, MODIFICATION AND TERMINATION 

16.1. AMENDMENT, MODIFICATION AND TERMINATION. The Board or the Committee may, at any time and from
time to time, amend, modify or terminate the Plan without stockholder approval; provided, however, that if an amendment to the Plan would, in the reasonable opinion of the Board or the Committee, either (i) materially increase the benefits
accruing to Participants under the Plan, (ii) materially increase the number of Shares available under the Plan, (iii) expand the types of awards under the Plan, (iv) materially expand the class of participants eligible to participate
in the Plan, (v) materially extend the term of the Plan, or (vi) otherwise constitute a material change requiring stockholder approval under applicable laws, policies or regulations or the applicable listing or other requirements of an
Exchange, then such amendment shall be subject to stockholder approval; and provided, further, that the Board or Committee may condition any other amendment or modification on the approval of stockholders of the Company for any reason, including by
reason of such approval being necessary or deemed advisable (i) to comply with the listing or other requirements of an Exchange, or (ii) to satisfy any other tax, securities or other applicable laws, policies or regulations. 

 

 A-17 

 16.2. AWARDS PREVIOUSLY GRANTED. At any time and from
time to time, the Committee may amend, modify or terminate any outstanding Award without approval of the Participant; provided, however: 

(a) Subject to the terms of the applicable Award Certificate, such amendment, modification or termination shall not,
without the Participant’s consent, reduce or diminish the value of such Award determined as if the Award had been exercised, vested, cashed in or otherwise settled on the date of such amendment or termination (with the per-share value of an
Option or SAR for this purpose being calculated as the excess, if any, of the Fair Market Value as of the date of such amendment or termination over the exercise or base price of such Award); 

(b) The original term of an Option or SAR may not be extended without the prior approval of the stockholders of the
Company; 
 (c) Except as otherwise provided in Section 15.1, the exercise price of an Option or base price
of a SAR may not be reduced, directly or indirectly, without the prior approval of the stockholders of the Company; and 

(d) No termination, amendment, or modification of the Plan shall adversely affect any Award previously granted under the
Plan, without the written consent of the Participant affected thereby. An outstanding Award shall not be deemed to be “adversely affected” by a Plan amendment if such amendment would not reduce or diminish the value of such Award
determined as if the Award had been exercised, vested, cashed in or otherwise settled on the date of such amendment (with the per-share value of an Option or SAR for this purpose being calculated as the excess, if any, of the Fair Market Value as of
the date of such amendment over the exercise or base price of such Award). 
 16.3. COMPLIANCE
AMENDMENTS. Notwithstanding anything in the Plan or in any Award Certificate to the contrary, the Board may amend the Plan or an Award Certificate, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of
conforming the Plan or Award Certificate to any present or future law relating to plans of this or similar nature (including, but not limited to, Section 409A of the Code), and to the administrative regulations and rulings promulgated
thereunder. By accepting an Award under this Plan, a Participant agrees to any amendment made pursuant to this Section 16.3 to any Award granted under the Plan without further consideration or action. 

ARTICLE 17 

GENERAL PROVISIONS 

17.1. RIGHTS OF PARTICIPANTS. 

(a) No Participant or any Eligible Participant shall have any claim to be granted any Award under the Plan. Neither the
Company, its Affiliates nor the Committee is obligated to treat Participants or Eligible Participants uniformly, and determinations made under the Plan may be made by the Committee selectively among Eligible Participants who receive, or are eligible
to receive, Awards (whether or not such Eligible Participants are similarly situated). 
 (b) Nothing in the
Plan, any Award Certificate or any other document or statement made with respect to the Plan, shall interfere with or limit in any way the right of the Company or any Affiliate to terminate any Participant’s employment or status as an officer,
or any Participant’s service as a director, at any time, nor confer upon any Participant any right to continue as an employee, officer, or director of the Company or any Affiliate, whether for the duration of a Participant’s Award or
otherwise. 
 (c) Neither an Award nor any benefits arising under this Plan shall constitute an employment
contract with the Company or any Affiliate and, accordingly, subject to Article 16, this Plan and the benefits hereunder may be terminated at any time in the sole and exclusive discretion of the Committee without giving rise to any liability on the
part of the Company or an of its Affiliates. 
 (d) No Award gives a Participant any of the rights of a
stockholder of the Company unless and until Shares are in fact issued to such person in connection with such Award. 
  

 A-18 

 17.2. WITHHOLDING. The Company or any Affiliate shall
have the authority and the right to deduct or withhold, or require a Participant to remit to the Company or such Affiliate, an amount sufficient to satisfy federal, state, and local taxes (including the Participant’s FICA obligation) required
by law to be withheld with respect to any exercise, lapse of restriction or other taxable event arising as a result of the Plan. The obligations of the Company under the Plan will be conditioned on such payment or arrangements and the Company or
such Affiliate will, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant. Unless otherwise determined by the Committee at the time the Award is granted or thereafter,
any such withholding requirement may be satisfied, in whole or in part, by withholding from the Award Shares having a Fair Market Value on the date of withholding equal to the minimum amount (and not any greater amount) required to be withheld for
tax purposes, all in accordance with such procedures as the Committee establishes. All such elections shall be subject to any restrictions or limitations that the Committee, in its sole discretion, deems appropriate. 

17.3. SPECIAL PROVISIONS RELATED TO SECTION 409A OF THE CODE. 

(a) General. It is intended that the payments and benefits provided under the Plan and any Award shall either be exempt from the
application of, or comply with, the requirements of Section 409A of the Code. The Plan and all Award Certificates shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits provided under the Plan
or any Award is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective directors, officers, employees or advisers (other than in his or her capacity as a Participant) shall be held liable for any taxes, interest,
penalties or other monetary amounts owed by any Participant or other taxpayer as a result of the Plan or any Award. 
 (b)
Definitional Restrictions. Notwithstanding anything in the Plan or in any Award Certificate to the contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of
Section 409A of the Code would otherwise be payable or distributable, or a different form of payment (e.g., lump sum or installment) would be effected, under the Plan or any Award Certificate by reason of the occurrence of a Change of Control,
or the Participant’s Disability or separation from service, such amount or benefit will not be payable or distributable to the Participant, and/or such different form of payment will not be effected, by reason of such circumstance unless the
circumstances giving rise to such Change of Control, Disability or separation from service meet any description or definition of “change in control event”, “disability” or “separation from service”, as the case may be,
in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not prohibit the vesting of any Award upon a Change of Control,
Disability or separation from service, however defined. If this provision prevents the payment or distribution of any amount or benefit, or the application of a different form of payment of any amount or benefit, such payment or distribution shall
be made at the time and in the form that would have applied absent the Change of Control, Disability or separation from service, as applicable, as applicable. 

(c) Allocation among Possible Exemptions. If any one or more Awards granted under the Plan to a Participant could qualify for any
separation pay exemption described in Treas. Reg. Section 1.409A-1(b)(9), but such Awards in the aggregate exceed the dollar limit permitted for the separation pay exemptions, the Company (acting through the Committee) shall determine which
Awards or portions thereof will be subject to such exemptions. 
 (d) Six-Month Delay in Certain Circumstances.
Notwithstanding anything in the Plan or in any Award Certificate to the contrary, if any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code would otherwise be payable or
distributable under this Plan or any Award Certificate by reason of a Participant’s separation from service during a period in which the Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration of
payment by the Committee under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes): 

(i) the amount of such non-exempt deferred compensation that would otherwise be payable during the six-month period
immediately following the Participant’s separation from service will be accumulated 
  

 A-19 

 
through and paid or provided on the first day of the seventh month following the Participant’s separation from service (or, if the Participant dies during such period, within 30 days after
the Participant’s death) (in either case, the “Required Delay Period”); and 
 (ii) the normal
payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period. 

For purposes of this Plan, the term “Specified Employee” has the meaning given such term in Code Section 409A and the
final regulations thereunder, provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its application of the six-month delay rule of Code Section 409A(a)(2)(B)(i) shall be determined in
accordance with rules adopted by the Board or any committee of the Board, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements of the Company, including this Plan. 

(e) Installment Payments. If, pursuant to an Award, a Participant is entitled to a series of installment payments, such
Participant’s right to the series of installment payments shall be treated as a right to a series of separate payments and not to a single payment. For purposes of the preceding sentence, the term “series of installment payments” has
the meaning provided in Treas. Reg. Section 1.409A-2(b)(2)(iii) (or any successor thereto). 

17.4. UNFUNDED STATUS OF AWARDS. The Plan is intended to be an “unfunded” plan for
incentive and deferred compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Certificate shall give the Participant any rights that are greater than those of a
general creditor of the Company or any Affiliate. In its sole discretion, the Committee may authorize the creation of grantor trusts or other arrangements to meet the obligations created under the Plan to deliver Shares or payments in lieu of Shares
or with respect to Awards. This Plan is not intended to be subject to ERISA. 
 17.5.
RELATIONSHIP TO OTHER BENEFITS. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or benefit plan of the Company or any Affiliate
unless provided otherwise in such other plan. Nothing contained in the Plan will prevent the Company from adopting other or additional compensation arrangements, subject to stockholder approval if such approval is required; and such arrangements may
be either generally applicable or applicable only in specific cases. 
 17.6. EXPENSES. The
expenses of administering the Plan shall be borne by the Company and its Affiliates. 
 17.7.
TITLES AND HEADINGS. The titles and headings of the Sections in the Plan are for convenience of reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 

17.8. GENDER AND NUMBER. Except where otherwise indicated by the context, any masculine term used
herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural. 
 
17.9. FRACTIONAL SHARES. No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding
up or down. 
 17.10. GOVERNMENT AND OTHER REGULATIONS. 

(a) Notwithstanding any other provision of the Plan, no Participant who acquires Shares pursuant to the Plan may, during
any period of time that such Participant is an affiliate of the Company (within the meaning of the rules and regulations of the Securities and Exchange Commission under the 1933 Act), sell such

  

 A-20 

 
Shares, unless such offer and sale is made (i) pursuant to an effective registration statement under the 1933 Act, which is current and includes the Shares to be sold, or (ii) pursuant
to an appropriate exemption from the registration requirement of the 1933 Act, such as that set forth in Rule 144 promulgated under the 1933 Act. 

(b) Notwithstanding any other provision of the Plan, if at any time the Committee shall determine that the registration,
listing or qualification of the Shares covered by an Award upon any Exchange or under any foreign, federal, state or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of,
or in connection with, the granting of such Award or the purchase or receipt of Shares thereunder, no Shares may be purchased, delivered or received pursuant to such Award unless and until such registration, listing, qualification, consent or
approval shall have been effected or obtained free of any condition not acceptable to the Committee. Any Participant receiving or purchasing Shares pursuant to an Award shall make such representations and agreements and furnish such information as
the Committee may request to assure compliance with the foregoing or any other applicable legal requirements. The Company shall not be required to issue or deliver any certificate or certificates for Shares under the Plan prior to the
Committee’s determination that all related requirements have been fulfilled. The Company shall in no event be obligated to register any securities pursuant to the 1933 Act or applicable state or foreign law or to take any other action in order
to cause the issuance and delivery of such certificates to comply with any such law, regulation or requirement. 
 
17.11. GOVERNING LAW. To the extent not governed by federal law, the Plan and all Award Certificates shall be construed in accordance with and governed by the laws of the State of Delaware. 

17.12. SEVERABILITY. In the event that any provision of this Plan is found to be invalid or
otherwise unenforceable under any applicable law, such invalidity or unenforceability will not be construed as rendering any other provisions contained herein as invalid or unenforceable, and all such other provisions will be given full force and
effect to the same extent as though the invalid or unenforceable provision was not contained herein. 
 
17.13. NO LIMITATIONS ON RIGHTS OF COMPANY. The grant of any Award shall not in any way affect the right or power of the Company to make adjustments, reclassification or changes in its capital or business structure or to merge,
consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. The Plan shall not restrict the authority of the Company, for proper corporate purposes, to draft or assume awards, other than under the Plan, to or with
respect to any person. If the Committee so directs, the Company may issue or transfer Shares to an Affiliate, for such lawful consideration as the Committee may specify, upon the condition or understanding that the Affiliate will transfer such
Shares to a Participant in accordance with the terms of an Award granted to such Participant and specified by the Committee pursuant to the provisions of the Plan. 

******************* 

The foregoing is hereby acknowledged as being the LHC Group, Inc. 2010 Long-Term Incentive Plan as adopted by the Board on April
    , 2010 and by the stockholders on                     , 2010. 

 

							
	LHC GROUP, INC.	 	
				
		 	By:	 	  
	 	
				
		 	Its:	 	  
	 	

  

 A-21Amended and Restated Credit Agreement, dated as of June 22, 2006

 Exhibit 4.1 

Composite Conformed Copy 

$2,250,000,000 

AMENDED AND RESTATED 

CREDIT AGREEMENT 

dated as of 

June 22, 2006 

among 

Consolidated Edison Company 

of New York, Inc. 

Consolidated Edison, Inc. 

Orange and Rockland 

Utilities, Inc. 

The Banks Party Hereto 

and 
 JPMorgan
Chase Bank, N.A. 
 as Administrative Agent 

 
  

Citibank, N.A., 

Syndication Agent 

The Bank of New York 

KeyBank National Association, 

Wachovia Bank, N.A., 

Co-Documentation Agents 
  

 
 J.P. Morgan
Securities Inc. 
 and 

Citigroup Global Markets Inc., 

Lead Arrangers 

 TABLE OF CONTENTS 

 
  

 

					
	 	 	 	  	 PAGE

	ARTICLE 1
	DEFINITIONS
			
	 Section 1.01.
	 	Definitions	  	1
	 Section 1.02.
	 	Accounting Terms and Determinations	  	15
	 Section 1.03.
	 	Types of Borrowings	  	16
	
	ARTICLE 2
	THE CREDITS
			
	 Section 2.01.
	 	Commitments	  	16
	 Section 2.02.
	 	Notice of Committed Borrowing	  	17
	 Section 2.03.
	 	Competitive Bid Borrowings	  	17
	 Section 2.04.
	 	Notice to Banks; Funding of Loans	  	21
	 Section 2.05.
	 	Maturity of Loans	  	22
	 Section 2.06.
	 	Interest Rates	  	22
	 Section 2.07.
	 	Method of Electing Interest Rates	  	24
	 Section 2.08.
	 	Fees	  	25
	 Section 2.09.
	 	Termination or Reduction of Commitments	  	26
	 Section 2.10.
	 	Optional Prepayments	  	26
	 Section 2.11.
	 	General Provisions as to Payments	  	27
	 Section 2.12.
	 	Funding Losses	  	27
	 Section 2.13.
	 	Computation of Interest and Fees	  	28
	 Section 2.14.
	 	Notes	  	28
	 Section 2.15.
	 	Regulation D Compensation	  	28
	 Section 2.16.
	 	Change of Control	  	29
	 Section 2.17.
	 	Increased Commitments; Additional Banks.	  	29
	 Section 2.18.
	 	Letters of Credit	  	30
	 Section 2.19.
	 	Extension Option	  	36
	
	ARTICLE 3
	CONDITIONS
			
	 Section 3.01.
	 	Effectiveness	  	37
	 Section 3.02.
	 	Borrowings and Issuances of Letters of Credit	  	39
	
	ARTICLE 4
	REPRESENTATIONS AND WARRANTIES
			
	 Section 4.01.
	 	Corporate Existence and Power	  	40
	 Section 4.02.
	 	Corporate and Governmental Authorization; No Contravention	  	40
	 Section 4.03.
	 	Binding Effect	  	40

					
	 Section 4.04.
	 	Financial Information	  	40
	 Section 4.05.
	 	Litigation	  	41
	 Section 4.06.
	 	Compliance with ERISA	  	41
	 Section 4.07.
	 	Environmental Matters	  	41
	 Section 4.08.
	 	Taxes	  	42
	 Section 4.09.
	 	Subsidiaries	  	42
	 Section 4.10.
	 	Investment Company Status	  	42
	 Section 4.11.
	 	Full Disclosure	  	42
	
	ARTICLE 5
	COVENANTS
			
	 Section 5.01.
	 	Information	  	43
	 Section 5.02.
	 	Payment of Obligations	  	44
	 Section 5.03.
	 	Maintenance of Property; Insurance	  	45
	 Section 5.04.
	 	Conduct of Business and Maintenance of Existence	  	45
	 Section 5.05.
	 	Compliance with Laws	  	45
	 Section 5.06.
	 	Inspection of Property, Books and Records	  	46
	 Section 5.07.
	 	Consolidations, Mergers and Transfers of Assets	  	46
	 Section 5.08.
	 	Use of Proceeds	  	46
	 Section 5.09.
	 	Negative Pledge	  	47
	 Section 5.10.
	 	Debt to Total Capital	  	48
	 Section 5.11.
	 	Transactions with Affiliates	  	48
	
	ARTICLE 6
	DEFAULTS
			
	 Section 6.01.
	 	Events of Default	  	48
	 Section 6.02.
	 	Notice of Default	  	51
	 Section 6.03.
	 	Cash Cover	  	51
	
	ARTICLE 7
	THE AGENTS
			
	 Section 7.01.
	 	Appointment and Authorization	  	51
	 Section 7.02.
	 	Administrative Agent and Affiliates	  	51
	 Section 7.03.
	 	Action by Administrative Agent	  	52
	 Section 7.04.
	 	Consultation with Experts	  	52
	 Section 7.05.
	 	Liability of Administrative Agent	  	52
	 Section 7.06.
	 	Indemnification	  	52
	 Section 7.07.
	 	Credit Decision	  	53
	 Section 7.08.
	 	Successor Administrative Agent	  	53
	 Section 7.09.
	 	Administrative Agent’s Fee	  	53
	 Section 7.10.
	 	Other Agents	  	53

  

 ii 

					
	ARTICLE 8
	CHANGE IN CIRCUMSTANCES
			
	 Section 8.01.
	 	Basis for Determining Interest Rate Inadequate or Unfair	  	53
	 Section 8.02.
	 	Illegality	  	54
	 Section 8.03.
	 	Increased Cost and Reduced Return	  	55
	 Section 8.04.
	 	Taxes	  	56
	 Section 8.05.
	 	Base Rate Loans Substituted for Affected Euro-Dollar Loans	  	58
	 Section 8.06.
	 	Substitution of Bank	  	58
	
	ARTICLE 9
	MISCELLANEOUS
			
	 Section 9.01.
	 	Notices	  	59
	 Section 9.02.
	 	No Waivers	  	59
	 Section 9.03.
	 	Expenses; Indemnification	  	59
	 Section 9.04.
	 	Set-offs	  	60
	 Section 9.05.
	 	Amendments and Waivers	  	60
	 Section 9.06.
	 	Successors and Assigns	  	61
	 Section 9.07.
	 	Designated Lenders	  	63
	 Section 9.08.
	 	No Reliance on Margin Stock	  	65
	 Section 9.09.
	 	Confidentiality	  	65
	 Section 9.10.
	 	Governing Law; Submission to Jurisdiction	  	65
	 Section 9.11.
	 	Counterparts; Integration	  	66
	 Section 9.12.
	 	WAIVER OF JURY TRIAL	  	66
	 Section 9.13.
	 	USA PATRIOT Act Notice	  	66

 COMMITMENT SCHEDULE 

PRICING SCHEDULE 
  

					
	 EXHIBIT A
	 	–	 	Note
	 EXHIBIT B
	 	–	 	Competitive Bid Quote Request
	 EXHIBIT C
	 	–	 	Invitation for Competitive Bid Quotes
	 EXHIBIT D
	 	–	 	Competitive Bid Quote
	 EXHIBIT E
	 	–	 	Opinion of Counsel for ConEd
	 EXHIBIT F
	 	–	 	Opinion of Counsel for Holdings
	 EXHIBIT G
	 	–	 	Opinion of Counsel for O&R
	 EXHIBIT H
	 	–	 	Opinion of Special Counsel for the Administrative Agent
	 EXHIBIT I
	 	–	 	Assignment and Assumption Agreement
	 EXHIBIT J
	 	–	 	Designation Agreement
	 EXHIBIT K
	 	–	 	Form of Extension Agreement

  

 iii 

 AMENDED AND RESTATED CREDIT AGREEMENT 

AGREEMENT dated as of June 22, 2006 among CONSOLIDATED EDISON COMPANY OF NEW YORK, INC., CONSOLIDATED EDISON, INC., ORANGE AND
ROCKLAND UTILITIES, INC., the BANKS party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent. 
 W I T N E S S E
T H: 
 WHEREAS, the Borrowers, the Banks party hereto, and the Agents are parties to a Credit Agreement dated as of
April 14, 2005 (the “Existing 2005 Agreement”); and 
 WHEREAS, the parties hereto wish to modify the
Existing 2005 Agreement in a number of respects, as more fully set forth below; 
 NOW, THEREFORE, the parties hereto hereby
agree that, on and as of the Effective Date, the Existing 2005 Agreement is hereby amended and restated in its entirety as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.01. Definitions. The following terms, as used herein, have the following meanings: 

“Absolute Rate Auction” means a solicitation of Competitive Bid Quotes setting forth Competitive Bid Absolute Rates
pursuant to Section 2.03. 
 “Additional Bank” means a Person which becomes a Bank pursuant to
Section 2.17 or 2.19 
 “Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as
administrative agent for the Banks hereunder, and its successors in such capacity. 
 “Administrative
Questionnaire” means, with respect to each Bank, an administrative questionnaire in the form prepared by the Administrative Agent, completed by such Bank and returned to the Administrative Agent (with a copy to each Borrower). 

“Affiliate” means, with respect to any Borrower, (i) any Person that directly, or indirectly through one or more
intermediaries, controls such Borrower (a “Controlling Person”) or (ii) any Person (other than such Borrower or a 

 
Subsidiary of such Borrower) which is controlled by or is under common control with a Controlling Person. As used herein, the term “control” means possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

“Agent” means any of the Administrative Agent, Co-Documentation Agents and the Syndication Agent, and
“Agents” means any two or more of the foregoing. 
 “Agreement” means the Existing 2005
Agreement as amended and restated by this Amended Agreement and as the same may be further amended from time to time after the date hereof. 

“Amended Agreement” means this Amended and Restated Credit Agreement dated as of June 22, 2006. 

“Applicable Lending Office” means, with respect to any Bank, (i) in the case of its Base Rate Loans, its Domestic
Lending Office, (ii) in the case of its Euro-Dollar Loans, its Euro-Dollar Lending Office and (iii) in the case of its Competitive Bid Loans, its Competitive Bid Lending Office. 

“Appropriate Share” has the meaning set forth in Section 8.03(d). 

“Approved Fund” means any Fund that is administered or managed by (i) a Bank, (ii) an affiliate of a Bank or
(iii) an entity or an affiliate of an entity that administers or manages a Bank. 
 “Availability Share”
means, with respect to each Borrower, at any time, the percentage which such Borrower’s Maximum Availability bears to the aggregate Maximum Availabilities of all Borrowers, all determined as of such time. 

“Bank” means (i) each bank or other institution listed on the Commitment Schedule, (ii) each Eligible Assignee
which becomes a Bank pursuant to Section 9.06(b), (iii) each Person which becomes a Bank pursuant to Section 8.06, 2.17 or 2.19 and (iii) their respective successors. 

“Base Rate” means, for any day, a rate per annum equal to the higher of (i) the Prime Rate for
such day and (ii) the sum of 1/2 of 1% plus the Federal Funds Rate for such day. 
 “Base Rate Loan” means
a Committed Loan which bears interest at the Base Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or the provisions of Section 2.07(a) or Article 8. 

 

 2 

 “Borrower” means each of ConEd, Holdings and O&R. References herein to
“a Borrower” or “the Borrower” in connection with any Loan or Group of Loans hereunder are to the particular Borrower to which such Loan or Loans are made or proposed to be made. 

“Borrower’s 2005 Annual Report” means, (i) with respect to ConEd or Holdings, such Borrower’s Annual
Report on Form 10-K for the year ended December 31, 2005, as filed with the SEC pursuant to the Exchange Act; and (ii) with respect to O&R, which is not required to file periodic reports with the SEC pursuant to the Exchange Act, its
audited annual financial statements for 2005 which have been posted on its website: www.oru.com. 
 “Borrowing”
has the meaning set forth in Section 1.03. 
 “Change of Control” means: (i) with respect to any
Borrower, if any person or group of persons (within the meaning of Section 13 or 14 of the Exchange Act) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 promulgated by the SEC under said Act) of 30% or more of the
outstanding shares of common stock of Holdings; or, during any period of 12 consecutive calendar months, individuals who were directors of Holdings on the first day of such period shall cease to constitute a majority of Holdings’ board of
directors and (ii) with respect to ConEd or O&R, if such Borrower ceases to be a Subsidiary of Holdings. 

“Co-Documentation Agent” means each of The Bank of New York, KeyBank National Association and Wachovia Bank, N.A. in its
capacity as the co-documentation agent hereunder. 
 “Commitment” means (i) with respect to each Bank
listed on the Commitment Schedule, the amount set forth opposite such Bank’s name on the Commitment Schedule, (ii) with respect to each Additional Bank, the amount of the Commitment assumed by it pursuant to Section 2.17 and
(iii) with respect to any Eligible Assignee which becomes a Bank pursuant to Section 9.06(b), the amount of the transferor Bank’s Commitment assigned to it pursuant to Section 9.06(b), in each case as such amount may be changed
from time to time pursuant to Section 2.09 or 9.06(b); provided that, if the context so requires, the term “Commitment” means the obligation of a Bank to extend credit up to such amount to the Borrowers hereunder. 

“Commitment Schedule” means the Commitment Schedule attached hereto. 

“Committed Loan” means a loan made by a Bank pursuant to Section 2.01(a); provided that, if any such loan or
loans (or portions thereof) are combined or subdivided pursuant to a Notice of Interest Rate Election, the term “Committed Loan” shall refer to the combined principal amount resulting from such combination or to each of the separate
principal amounts resulting from such subdivision, as the case may be. 
  

 3 

 “Competitive Bid Absolute Rate” has the meaning set forth in
Section 2.03(d). 
 “Competitive Bid Absolute Rate Loan” means a loan made or to be made by a Bank
pursuant to an Absolute Rate Auction. 
 “Competitive Bid Lending Office” means, as to each Bank, its Domestic
Lending Office or such other office, branch or affiliate of such Bank as it may hereafter designate as its Competitive Bid Lending Office by notice to each Borrower and the Administrative Agent; provided that any Bank may from time to time by
notice to each Borrower and the Administrative Agent designate separate Competitive Bid Lending Offices for its Competitive Bid LIBOR Loans, on the one hand, and its Competitive Bid Absolute Rate Loans, on the other hand, in which case all
references herein to the Competitive Bid Lending Office of such Bank shall be deemed to refer to either or both of such offices, as the context may require. 

“Competitive Bid LIBOR Loan” means a loan made or to be made by a Bank pursuant to a LIBOR Auction (including any such
loan bearing interest at the Base Rate pursuant to Section 8.01). 
 “Competitive Bid Loan” means a
Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan. 
 “Competitive Bid Margin” has the meaning
set forth in Section 2.03(d)(ii)(C). 
 “Competitive Bid Quote” means an offer by a Bank to make a
Competitive Bid Loan in accordance with Section 2.03. 
 “ConEd” means Consolidated Edison Company of New
York, Inc., a New York corporation, all of the common stock of which is owned by Holdings, and its successors. 

“Consolidated Debt” means, with respect to a Borrower, at any date, the Debt (other than Non-recourse Debt) of such
Borrower and its Consolidated Subsidiaries, determined on a consolidated basis as of such date. 
 “Consolidated
Subsidiary” means, with respect to a Borrower, at any date, any Subsidiary or other entity the accounts of which would be consolidated with those of such Borrower in its consolidated financial statements if such statements were prepared as
of such date. 
  

 4 

 “Consolidated Total Capital” means, with respect to a Borrower, at any
date, the sum of (x) Consolidated Debt plus (y) consolidated stockholders’ equity of such Borrower and its Consolidated Subsidiaries (including for this purpose any amount attributable to stock which is required to be redeemed or is
redeemable at the option of the holder, if certain events or conditions occur or exist or otherwise), in each case determined at such date. 

“Credit Exposure” means, with respect to any Bank at any time, (i) the amount of its Commitment (whether used or
unused) at such time or (ii) if its Commitment has terminated, the aggregate outstanding principal amount of its Loans and Letter of Credit Liabilities at such time. 

“Debt” of any Person means, at any date, without duplication, (i) all obligations of such Person for borrowed
money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person to pay the deferred purchase price of property or services, except trade accounts payable
arising in the ordinary course of business, (iv) all obligations of such Person as lessee which are capitalized in accordance with GAAP, (v) all non-contingent obligations (and, for purposes of Section 5.09 and the definitions of
Material Debt and Material Financial Obligations, all contingent obligations) of such Person to reimburse any bank or other Person in respect of amounts paid under a letter of credit or similar instrument, (vi) all Debt secured by a Lien on any
asset of such Person, whether or not such Debt is otherwise an obligation of such Person, and (vii) all Guarantees by such Person of Debt of another Person (each such Guarantee to constitute Debt in an amount equal to the amount of such other
Person’s Debt Guaranteed thereby). 
 “Default” means, with respect to a Borrower, any condition or event
which constitutes an Event of Default with respect to such Borrower or which with the giving of notice or lapse of time or both would, unless cured or waived, become an Event of Default with respect to such Borrower. 

“Derivatives Obligations” of any Person means all obligations of such Person in respect of any rate swap transaction,
basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar
transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect to any of the foregoing transactions) or any combination of the foregoing transactions.

 “Designated Lender” means, with respect to any Designating Bank, an Eligible Designee designated by it
pursuant to Section 9.07(a) as a Designated Lender for purposes of this Agreement. 
  

 5 

 “Designating Bank” means, with respect to each Designated Lender, the Bank
that designated such Designated Lender pursuant to Section 9.07(a). 
 “Domestic Business Day” means any
day except a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to close. 

“Domestic Lending Office” means, as to each Bank, its office located at its address set forth in its Administrative
Questionnaire (or identified in its Administrative Questionnaire as its Domestic Lending Office) or such other office as such Bank may hereafter designate as its Domestic Lending Office by notice to each Borrower and the Administrative Agent.

 “Effective Date” means the date this Amended Agreement becomes effective in accordance with
Section 3.01. 
 “Electric and/or Steam Stranded Cost” means charges in respect of prior utility
investments and commitments, including investments in generating plants, commitments for decommissioning of generating plants, and charges under contracts for power and energy. 

“Eligible Assignee” means (i) a Bank; (ii) an affiliate of a Bank; (iii) an Approved Fund; and
(iv) any other Person (other than a natural Person) approved by the Administrative Agent, the Issuing Bank and, unless (x) such Person is taking delivery of an assignment in connection with physical settlement of a credit derivatives
transaction or (y) an Event of Default has occurred and is continuing with respect to such Borrower, each Borrower (each such approval not to be unreasonably withheld or delayed). If the consent of a Borrower to an assignment or to an Eligible
Assignee is required hereunder (including a consent to an assignment which does not meet the minimum assignment thresholds specified in paragraph (b)(i) of Section 9.06), such Borrower shall be deemed to have given its consent five Domestic
Business Days after the date notice thereof has been delivered by the assigning Bank (through the Administrative Agent) unless such consent is expressly refused by such Borrower prior to such fifth Domestic Business Day. 

“Eligible Designee” means a special purpose corporation that (i) is organized under the laws of the United States
or any state thereof, (ii) is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business and (iii) issues (or the parent of which issues) commercial paper rated at least A-1 or the
equivalent thereof by S&P or at least P-1 or the equivalent thereof by Moody’s. 
 “Environmental
Laws” means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, plans, injunctions, permits, concessions, grants, franchises, licenses,

  

 6 

 
agreements and other governmental restrictions relating to the environment or the effect of the environment on human health or to emissions, discharges or releases of pollutants, contaminants,
Hazardous Substances or wastes into the environment, including (without limitation) ambient air, surface water, ground water or land, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or
handling of pollutants, contaminants, Hazardous Substances or wastes or the clean-up or other remediation thereof. 

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

“ERISA Group” means with respect to a Borrower, such Borrower, any Subsidiary of such Borrower and all members of a
controlled group of corporations and all trades or businesses (whether or not incorporated) under common control which, together with such Borrower or any Subsidiary of such Borrower, are treated as a single employer under Section 414 of the
Internal Revenue Code. 
 “Euro-Dollar Business Day” means any Domestic Business Day on which commercial banks
are open for international business (including dealings in dollar deposits) in London. 
 “Euro-Dollar Lending
Office” means, as to each Bank, its office, branch or affiliate located at its address set forth in its Administrative Questionnaire (or identified in its Administrative Questionnaire as its Euro-Dollar Lending Office) or such other office,
branch or affiliate of such Bank as it may hereafter designate as its Euro-Dollar Lending Office by notice to each Borrower and the Administrative Agent. 

“Euro-Dollar Loan” means a Committed Loan which bears interest at a Euro-Dollar Rate pursuant to the applicable Notice
of Committed Borrowing or Notice of Interest Rate Election. 
 “Euro-Dollar Margin” means a rate per annum
determined in accordance with the Pricing Schedule. 
 “Euro-Dollar Rate” means a rate of interest determined
pursuant to Section 2.06(b) on the basis of a London Interbank Offered Rate. 
 “Euro-Dollar Reference
Banks” means the principal London offices of Citibank, N.A. and JPMorgan Chase Bank, N.A. 
 “Euro-Dollar
Reserve Percentage” means, for any day, that percentage (expressed as a decimal) which is in effect on such day, as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for

  

 7 

 
determining the maximum reserve requirement for a member bank of the Federal Reserve System in New York City with deposits exceeding five billion dollars in respect of “Eurocurrency
liabilities” (or in respect of any other category of liabilities which includes deposits by reference to which the interest rate on Euro-Dollar Loans is determined or any category of extensions of credit or other assets which includes loans by
a non-United States office of any Bank to United States residents). 
 “Events of Default” has the meaning set
forth in Section 6.01. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time
to time. 
 “Existing 2003 Agreement” means the $562,500,000 3-Year Credit Agreement (as amended from time to
time) dated as of November 26, 2003 among ConEd, Holdings, O&R, the banks party thereto and JPMorgan Chase Bank, N.A., as agent for such banks. 

“Existing 2005 Agreement” has the meaning set forth in the recitals hereto. 

“Federal Funds Rate” means, for any day, the rate per annum (rounded upward, if necessary, to the nearest 1/100 of 1%)
equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Domestic
Business Day next succeeding such day, provided that (i) if such day is not a Domestic Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Domestic Business Day as so published
on the next succeeding Domestic Business Day and (ii) if no such rate is so published on such next succeeding Domestic Business Day, the Federal Funds Rate for such day shall be the average rate quoted to JPMorgan Chase Bank, N.A. on such day
on such transactions as determined by the Administrative Agent. 
 “FERC” means the Federal Energy Regulatory
Commission. 
 “Fiscal Quarter” means, with respect to a Borrower, a fiscal quarter of such Borrower.

 “Fiscal Year” means, with respect to a Borrower, a fiscal year of such Borrower. 

“Fixed Rate Loans” means Euro-Dollar Loans or Competitive Bid Loans (excluding Competitive Bid LIBOR Loans bearing
interest at the Base Rate pursuant to Section 8.01) or both. 
  

 8 

 “Fund” means any Person (other than a natural Person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 

“GAAP” means, with respect to a Borrower, generally accepted accounting principles as in effect from time to time,
applied on a basis consistent (except for changes concurred in by such Borrower’s independent public accountants) with the most recent audited consolidated financial statements of such Borrower and its Consolidated Subsidiaries delivered to the
Banks. 
 “Group of Loans” means, at any time, a group of Loans consisting of (i) all Committed Loans to a
single Borrower which are Base Rate Loans at such time or (ii) all Euro-Dollar Loans to a single Borrower having the same Interest Period at such time, provided that, if a Committed Loan of any particular Bank is converted to or made as
a Base Rate Loan pursuant to Article 8, such Loan shall be included in the same Group or Groups of Loans from time to time as it would have been in if it had not been so converted or made. 

“Guarantee” by any Person means any obligation, contingent or otherwise, of such Person directly or indirectly
guaranteeing any Debt of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (i) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Debt (whether arising by virtue of partnership arrangements, by virtue of an agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise),
(ii) to reimburse a bank for amounts drawn under a letter of credit for the purpose of paying such Debt or (iii) entered into for the purpose of assuring in any other manner the holder of such Debt of the payment thereof or to protect such
holder against loss in respect thereof (in whole or in part), provided that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used as a
verb has a corresponding meaning. 
 “Hazardous Substances” means any toxic, radioactive, caustic or otherwise
hazardous substance, including petroleum, its derivatives and by-products and other hydrocarbons, or any substance having any constituent elements displaying any of the foregoing characteristics. 

“Holdings” means Consolidated Edison, Inc. a New York corporation and the sole common shareholder of each of ConEd and
O&R. 
 “Increased Commitments” has the meaning set forth in Section 2.17(a). 

“Indemnitee” has the meaning set forth in Section 9.03(b). 

 

 9 

 “Interest Period” means: (1) with respect to each Euro-Dollar Loan,
the period commencing on the date of borrowing specified in the applicable Notice of Borrowing or on the date specified in an applicable Notice of Interest Rate Election and ending one, two, three or six months thereafter, as the Borrower may elect
in such notice; provided that: 
 (a) any Interest Period which would otherwise end on a day which is not
a Euro-Dollar Business Day shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Euro-Dollar
Business Day; 
 (b) any Interest Period which begins on the last Euro-Dollar Business Day of a calendar month
(or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall, subject to clause (c) below, end on the last Euro-Dollar Business Day of a calendar month; and 

(c) any Interest Period which would end after the Termination Date shall end on the Termination Date; 

(2) with respect to each Competitive Bid LIBOR Loan, the period commencing on the date of borrowing specified in the applicable Notice of
Borrowing and ending such whole number of months thereafter as the Borrower may elect in accordance with Section 2.03; provided that: 

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

(b) any Interest Period which begins on the last Euro-Dollar Business Day of a calendar month (or on a day for which there
is no numerically corresponding day in the calendar month at the end of such Interest Period) shall, subject to clause (c) below, end on the last Euro-Dollar Business Day of a calendar month; and 

(c) any Interest Period which would end after the Termination Date shall end on the Termination Date; and 

 

 10 

 (3) with respect to each Competitive Bid Absolute Rate Loan, the period commencing on the
date of borrowing specified in the applicable Notice of Borrowing and ending such number of days thereafter (but not less than 7 days) as the Borrower may elect in accordance with Section 2.03; provided that: 

(a) any Interest Period which would otherwise end on a day which is not a Euro-Dollar Business Day shall, subject to
clause (b) below, be extended to the next succeeding Euro-Dollar Business Day; and 
 (b) any Interest
Period which would end after the Termination Date shall end on the Termination Date. 
 “Internal Revenue Code”
means the Internal Revenue Code of 1986, as amended, or any successor statute. 
 “Issuing Bank” means JPMorgan
Chase Bank, N.A. or any other Bank designated by a Borrower that may agree to issue letters of credit hereunder pursuant to an instrument in form reasonably satisfactory to the Administrative Agent, each in its capacity as an issuer of a Letter of
Credit hereunder. 
 “Letter of Credit” means a letter of credit to be issued hereunder by an Issuing Bank.

 “Letter of Credit Liabilities” means, for any Bank and at any time, such Bank’s ratable participation
in the sum of (x) the aggregate amount then owing by all Borrowers in respect of amounts paid by the Issuing Bank upon a drawing under a Letter of Credit issued hereunder and (y) the aggregate amount then available for drawing under all
outstanding Letters of Credit. 
 “Letter of Credit Termination Date” means the fifth Domestic Business Day
prior to the Termination Date. 
 “LIBOR Auction” means a solicitation of Competitive Bid Quotes setting forth
Competitive Bid Margins based on the London Interbank Offered Rate pursuant to Section 2.03. 
 “Lien”
means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind, or any other type of preferential arrangement that has substantially the same practical effect as a security interest, in respect of
such asset. For purposes hereof, a Borrower or any of its Subsidiaries shall be deemed to own subject to a Lien any asset which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital
lease or other title retention agreement relating to such asset. 
 “Loan” means a Committed Loan or a
Competitive Bid Loan and “Loans” means Committed Loans or Competitive Bid Loans or any combination of the foregoing. 

“London Interbank Offered Rate” has the meaning set forth in Section 2.06(b). 

 

 11 

 “Material Adverse Effect” means, with respect to a Borrower, (i) a
material adverse effect upon the business, financial condition or results of operations of such Borrower and its Subsidiaries, taken as a whole; (ii) a material adverse effect on the ability of such Borrower to perform its obligations under
this Agreement and the Notes; or (iii) a material adverse effect on the rights and remedies of the Administrative Agent, the Issuing Bank and the Banks under this Agreement and the Notes. 

“Material Debt” means, with respect to a Borrower, Debt (except (i) Debt of such Borrower outstanding hereunder and
(ii) Non-recourse Debt) of such Borrower and/or one or more of its Subsidiaries, arising in one or more related or unrelated transactions, in an aggregate principal or face amount exceeding $150,000,000. 

“Material Financial Obligations” means, with respect to a Borrower, a principal or face amount of Debt (other than
(i) the Loans to such Borrower and (ii) Non-recourse Debt) and/or payment or collateralization obligations in respect of Derivatives Obligations of such Borrower and/or one or more of its Subsidiaries, arising in one or more related or
unrelated transactions, exceeding in the aggregate $150,000,000. 
 “Material Plan” means, at any time, a Plan
or Plans having aggregate Unfunded Liabilities in excess of $150,000,000. 
 “Material Subsidiary” means, with
respect to a Borrower, at any time, any Subsidiary of the Borrower that is a “significant subsidiary” (as such term is defined in Regulation S-X of the SEC (17 C.F.R. §210.1-02(w) (or any successor provision)), but treating all
references therein to the “registrant” as references to the Borrower). 
 “Maximum
Availability” means, subject to Section 6.01 and Section 2.17(f), (i) for ConEd, the lesser of the aggregate amount of the Commitments or
$1,500,000,000*
; (ii) for Holdings, the lesser of the aggregate amount of the Commitments or $1,000,000,000 and (iii) for O&R, the lesser of the aggregate amount of the Commitments or
$200,000,000; provided, however, that ConEd may elect to increase its Maximum Availability to an amount up to the aggregate amount of the Commitments, such increase to be effective upon delivery to the Administrative Agent of evidence
reasonably satisfactory to it that such increase has received all necessary regulatory approvals to borrow such increased amount hereunder. The Administrative Agent shall promptly notify the Banks of the effectiveness of any such increase.

  

	*
	Increased to $2,250,000,000 effective 1/2/08. 

  

 12 

 “Multiemployer Plan” means, at any time, an employee pension benefit plan
within the meaning of Section 4001(a)(3) of ERISA to which any member of the ERISA Group is then making or accruing an obligation to make contributions or has within the preceding five plan years made contributions, including for these purposes
any Person which ceased to be a member of the ERISA Group during such five year period. 
 “Non-recourse Debt”
of any Person means Debt secured by a Lien on one or more assets or rights to receive revenue in respect of Electric and/or Steam Stranded Cost of such Person where the rights and remedies of the holder of such Debt in respect of such Debt do not
extend to any other assets or rights to receive revenue in respect of Electric and/or Steam Stranded Cost of such Person (including, with respect to Holdings and O&R, Liens relating to $46,300,000 aggregate principal amount of 5.22% Transition
Bonds, Series 2004-1 of Rockland Electric Company Transition Funding LLC) and, if such Person is organized under the laws of or doing business in the United States or any political subdivision thereof or therein, as to which such holder has
effectively waived (or subordinated in favor of the Banks) such holder’s right to make the election provided under 11 U.S.C. § 1111(b)(1)(A). 

“Notes” means promissory notes of a Borrower, substantially in the form of Exhibit A hereto, evidencing the obligation
of such Borrower to repay the Loans made to it, and “Note” means any one of such promissory notes issued hereunder. 

“Notice of Borrowing” means a Notice of Committed Borrowing (as defined in Section 2.02) or a Notice of Competitive
Bid Borrowing (as defined in Section 2.03(f)). 
 “Notice of Interest Rate Election” has the meaning set
forth in Section 2.07. 
 “O&R” means Orange and Rockland Utilities, Inc., a New York corporation and
wholly-owned Subsidiary of Holdings, and its successors. 
 “Parent” means, with respect to any Bank, any
Person controlling such Bank. 
 “Participant” has the meaning set forth in Section 9.06(d). 

“PBGC” means the Pension Benefit Guaranty Corporation or any entity succeeding to any or all of its functions under
ERISA. 
 “Percentage” means, with respect to any Bank at any time, the percentage which the amount of its
Commitment at such time represents of the aggregate amount of all the Commitments at such time. At any time after the Commitments 

 

 13 

 
shall have terminated, the term “Percentage” shall refer to a Bank’s Percentage immediately before such termination, adjusted to reflect any subsequent assignments pursuant to
Section 9.06(b). 
 “Person” means an individual, a corporation, a limited liability company, a
partnership, an association, a trust or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Plan” means, at any time, an employee pension benefit plan (other than a Multiemployer Plan) which is covered by Title
IV of ERISA or subject to the minimum funding standards under Section 412 of the Internal Revenue Code and either (i) is maintained, or contributed to, by any member of the ERISA Group for employees of any member of the ERISA Group or
(ii) has at any time within the preceding five years been maintained, or contributed to, by any Person which was at such time a member of the ERISA Group for employees of any Person which was at such time a member of the ERISA Group.

 “Pricing Schedule” means the Pricing Schedule for the Borrowers attached hereto. 

“Prime Rate” means the rate of interest publicly announced by JPMorgan Chase Bank, N.A. in New York City from time to
time as its Prime Rate. Each change in the Prime Rate shall be effective from and including the day such change is publicly announced. 

“PSC” means the New York State Public Service Commission. 

“Quarterly Payment Dates” means each March 31, June 30, September 30 and December 31.

 “Regulation U” means Regulation U of the Board of Governors of the Federal Reserve System, as in effect from
time to time. 
 “Reimbursement Obligation” has the meaning specified in Section 2.18(c). 

“Required Banks” means, at any time, Banks having more than 50% in aggregate amount of the Credit Exposures at such
time. 
 “Revolving Credit Period” means the period from and including the Effective Date to but not including
the Termination Date. 
 “SEC” means the Securities and Exchange Commission. 

“Securitization Act” means P.L. 2002. ch. 84, N.J.S.A. 

 

 14 

 “Subsidiary” means, as to any Person, any corporation or other entity of
which securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by such Person. Unless otherwise
specified, “Subsidiary” means a Subsidiary of a Borrower. 
 “Syndication Agent” means Citibank, N.A.
in its capacity as syndication agent in respect of this Agreement. 
 “Termination Date”
means, as to any Bank, June 22,
2011,*
 or such later date to which the Termination Date may be extended with respect to such Bank pursuant to Section 2.19, or if any such date is not a Euro-Dollar Business Day, the
next preceding Euro-Dollar Business Day. 
 “Total Outstanding Amount” means, at any time, the sum of
(i) the aggregate outstanding principal amount of the Loans of the Borrowers (including both Committed Loans and Competitive Bid Loans) determined at such time after giving effect, if one or more Loans are being made at such time, to any
substantially concurrent application of the proceeds thereof to repay one or more other Loans plus, without duplication, (ii) the aggregate amount of the Letter of Credit Liabilities of all Banks at such time. 

“Unfunded Liabilities” means, with respect to any Plan at any time, the amount (if any) by which (i) the value of
all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds (ii) the fair market value of all Plan assets allocable to such
liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions), all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the
ERISA Group to the PBGC or any other Person under Title IV of ERISA. 
 “United States” means the United States
of America. 
 Section 1.02. Accounting Terms and Determinations. Unless otherwise specified herein, all accounting
terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP; provided that, if a Borrower notifies
the Administrative Agent that such Borrower wishes to amend any provision hereof to eliminate the effect of any change in GAAP after the date hereof (or if the Administrative Agent notifies a Borrower that the Required Banks wish to amend any
provision hereof for such purpose), then such provision shall be applied with respect to such Borrower on the basis of 
  

	*
	Extended to June 22, 2012, effective 6/19/07, except as noted in Commitment Schedule. 

 

 15 

 
GAAP in effect immediately before the relevant change in GAAP became effective, until either such notice is withdrawn or such provision is amended in a manner satisfactory to the Borrowers and
the Required Banks. 
 Section 1.03. Types of Borrowings. The term “Borrowing” denotes (i) the
aggregation of Loans made or to be made to the same Borrower by one or more Banks pursuant to Article 2 on the same day, all of which Loans are of the same type (subject to Article 8) and, except in the case of Base Rate Loans, have the same initial
Interest Period or (ii) if the context so requires, the borrowing of such Loans. Borrowings are classified for purposes hereof either (i) by reference to the pricing of Loans comprising such Borrowing (e.g., a “Euro-Dollar
Borrowing” is a Borrowing comprised of Euro-Dollar Loans) or (ii) by reference to the provisions of Article 2 under which participation therein is determined (i.e., a “Committed Borrowing” is a Borrowing under
Section 2.01(a) in which all Banks participate in proportion to their Commitments, while a “Competitive Bid Borrowing” is a Borrowing under Section 2.03 in which one or more Banks participate on the basis of their bids).

 ARTICLE 2 

THE CREDITS 

Section 2.01. Commitments. 

(a) Loans. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to each Borrower
pursuant to this Section from time to time during the Revolving Credit Period; provided that, immediately after each such loan is made, (i) the aggregate outstanding principal amount of such Bank’s Committed Loans to all Borrowers
plus the aggregate amount of such Bank’s Letter of Credit Liabilities shall not exceed its Commitment, (ii) the aggregate outstanding principal amount of Loans to any Borrower plus the aggregate amount of Letter of Credit Liabilities for
the account of such Borrower shall not exceed the Maximum Availability of such Borrower and (iii) the Total Outstanding Amount shall not exceed the aggregate amount of the Commitments. Within the foregoing limits, the Borrower may borrow under
this subsection, prepay Loans to the extent permitted by Section 2.10 and reborrow at any time during the Revolving Credit Period under this subsection. Loans made to any Borrower shall be the several obligations of such Borrower.

 (b) Minimum Amounts. Each Borrowing under this Section shall be in an aggregate principal amount of $5,000,000 or any
larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate amount available within the limitations set forth above) and shall be made from the several Banks ratably in proportion to their respective Commitments.

  

 16 

 Section 2.02. Notice of Committed Borrowing. The Borrower shall give the
Administrative Agent notice (a “Notice of Committed Borrowing”) not later than 10:30 A.M. (New York City time) on (x) the date of each Base Rate Borrowing and (y) the third Euro-Dollar Business Day before each Euro-Dollar
Borrowing, specifying: 
 (a) the date of such Borrowing, which shall be a Domestic Business Day in the case of a Base Rate
Borrowing or a Euro-Dollar Business Day in the case of a Euro-Dollar Borrowing; 
 (b) the aggregate amount of such Borrowing;

 (c) whether the Loans comprising such Borrowing are to bear interest initially at the Base Rate or a Euro-Dollar Rate; and

 (d) in the case of a Euro-Dollar Borrowing, the duration of the initial Interest Period applicable thereto, subject to the
provisions of the definition of Interest Period. 
 Section 2.03. Competitive Bid Borrowings. (a) The
Competitive Bid Option. In addition to Committed Borrowings pursuant to Section 2.01(a), each Borrower may, as set forth in this Section, request the Banks to make offers to make Competitive Bid Loans to such Borrower from time to time
during the Revolving Credit Period. The Banks may, but shall have no obligation to, make such offers and such Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section. 

(b) Competitive Bid Quote Request. When the Borrower wishes to request offers to make Competitive Bid Loans under this Section, it
shall transmit to the Administrative Agent by telex or facsimile a Competitive Bid Quote Request substantially in the form of Exhibit B hereto so as to be received not later than 10:30 A.M. (New York City time) on (x) the fifth Euro-Dollar
Business Day before the date of Borrowing proposed therein, in the case of a LIBOR Auction or (y) the Domestic Business Day next preceding the date of Borrowing proposed therein, in the case of an Absolute Rate Auction (or, in either case, such
other time or date as the Borrower and the Administrative Agent shall have mutually agreed and shall have notified the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which
such change is to be effective) specifying: 
 (i) the proposed date of Borrowing, which shall be a Euro-Dollar
Business Day in the case of a LIBOR Auction or a Domestic Business Day in the case of an Absolute Rate Auction, 

(ii) the aggregate amount of such Borrowing, which shall be $5,000,000 or a larger multiple of $1,000,000, 

 

 17 

 (iii) the duration of the Interest Period applicable thereto, subject to the
provisions of the definition of Interest Period, and 
 (iv) whether the Competitive Bid Quotes requested are to
set forth a Competitive Bid Margin or a Competitive Bid Absolute Rate. 
 The Borrower may request offers to make Competitive Bid Loans for more
than one Interest Period in a single Competitive Bid Quote Request. No Competitive Bid Quote Request shall be given within five Euro-Dollar Business Days (or such other number of days as the Borrower and the Administrative Agent may agree) of any
other Competitive Bid Quote Request. 
 (c) Invitation for Competitive Bid Quotes. Promptly after receiving a Competitive
Bid Quote Request, the Administrative Agent shall send to the Banks by telex or facsimile an Invitation for Competitive Bid Quotes substantially in the form of Exhibit C hereto, which shall constitute an invitation by the Borrower to each Bank to
submit Competitive Bid Quotes offering to make the Competitive Bid Loans to which such Competitive Bid Quote Request relates in accordance with this Section. 

(d) Submission and Contents of Competitive Bid Quotes. (i) Each Bank may submit a Competitive Bid Quote containing an offer
or offers to make Competitive Bid Loans in response to any Invitation for Competitive Bid Quotes. Each Competitive Bid Quote must comply with the requirements of this Section 2.03(d) and must be submitted to the Administrative Agent by telex or
facsimile at its address specified in or pursuant to Section 9.01 not later than (x) 2:00 P.M. (New York City time) on the fourth Euro-Dollar Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or
(y) 9:30 A.M. (New York City time) on the proposed date of Borrowing, in the case of an Absolute Rate Auction (or, in either case, such other time or date as the Borrower and the Administrative Agent shall have mutually agreed and shall have
notified the Banks not later than the date of the Competitive Bid Quote Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective); provided that Competitive Bid Quotes submitted by the
Administrative Agent (or any affiliate of the Administrative Agent) in the capacity of a Bank may be submitted, and may only be submitted, if the Administrative Agent or such affiliate notifies the Borrower of the terms of the offer or offers
contained therein not later than (x) one hour before the deadline for the other Banks, in the case of a LIBOR Auction or (y) 15 minutes before the deadline for the other Banks, in the case of an Absolute Rate Auction. Subject to Articles 3
and 6, any Competitive Bid Quote so made shall not be revocable except with the written consent of the Administrative Agent given on the instructions of the Borrower. 

 

 18 

 (ii) Each Competitive Bid Quote shall be substantially in the form of
Exhibit D hereto and shall in any case specify: 
 (A) the proposed date of Borrowing, 

(B) the principal amount of the Competitive Bid Loan for which each such offer is being made, which principal amount
(w) may be greater than or less than the Commitment of the quoting Bank, (x) must be $5,000,000 or a larger multiple of $1,000,000, (y) may not exceed the principal amount of Competitive Bid Loans for which offers were requested and
(z) may be subject to an aggregate limitation as to the principal amount of Competitive Bid Loans for which offers being made by such quoting Bank may be accepted, 

(C) in the case of a LIBOR Auction, the margin above or below the applicable London Interbank Offered Rate (the
“Competitive Bid Margin”) offered for each such Competitive Bid Loan, expressed as a percentage (specified to the nearest 1/10,000 of 1%) to be added to or subtracted from the applicable London Interbank Offered Rate, 

(D) in the case of an Absolute Rate Auction, the rate of interest per annum (specified to the nearest 1/10,000 of 1%) (the
“Competitive Bid Absolute Rate”) offered for each such Competitive Bid Loan, and 
 (E) the
identity of the quoting Bank. 
 A Competitive Bid Quote may set forth up to five separate offers by the quoting Bank with respect to each
Interest Period specified in the related Invitation for Competitive Bid Quotes. 
 (iii) Any Competitive Bid
Quote shall be disregarded if it: 
 (A) is not substantially in conformity with Exhibit D hereto or does not
specify all of the information required by subsection 2.03(d)(ii) above; 
 (B) contains qualifying, conditional
or similar language; 
 (C) proposes terms other than or in addition to those set forth in the applicable
Invitation for Competitive Bid Quotes; or 
 (D) arrives after the time set forth in subsection 2.03(d)(i).

  

 19 

 (e) Notice to Borrower. The Administrative Agent shall promptly notify the Borrower
of the terms of (i) any Competitive Bid Quote submitted by a Bank that is in accordance with Section 2.03(d) and (ii) any Competitive Bid Quote that amends, modifies or is otherwise inconsistent with a previous Competitive Bid Quote
submitted by such Bank with respect to the same Competitive Bid Quote Request. Any such subsequent Competitive Bid Quote shall be disregarded by the Administrative Agent unless such subsequent Competitive Bid Quote is submitted solely to correct a
manifest error in such former Competitive Bid Quote. The Administrative Agent’s notice to the Borrower shall specify (A) the aggregate principal amount of Competitive Bid Loans for which offers have been received for each Interest Period
specified in the related Competitive Bid Quote Request, (B) the respective principal amounts and Competitive Bid Margins or Competitive Bid Absolute Rates, as the case may be, so offered and (C) if applicable, limitations on the aggregate
principal amount of Competitive Bid Loans for which offers in any single Competitive Bid Quote may be accepted. 
 (f)
Acceptance and Notice by Borrower. Not later than 10:30 A.M. (New York City time) on (x) the third Euro-Dollar Business Day before the proposed date of Borrowing, in the case of a LIBOR Auction or (y) the proposed date of Borrowing,
in the case of an Absolute Rate Auction (or, in either case, such other time or date as the Borrower and the Administrative Agent shall have mutually agreed and shall have notified the Banks not later than the date of the Competitive Bid Quote
Request for the first LIBOR Auction or Absolute Rate Auction for which such change is to be effective), the Borrower shall notify the Administrative Agent of its acceptance or non-acceptance of the offers of which it has been so notified pursuant to
Section 2.03(e). In the case of acceptance, such notice to the Administrative Agent (a “Notice of Competitive Bid Borrowing”) shall specify the aggregate principal amount of offers for each Interest Period that are accepted.
The Borrower may accept any Competitive Bid Quote in whole or in part; provided that: 
 (i) the aggregate
principal amount of each Competitive Bid Borrowing may not exceed the applicable amount set forth in the related Competitive Bid Quote Request; 

(ii) the principal amount of each Competitive Bid Borrowing must be $5,000,000 or a larger multiple of $1,000,000;

 (iii) acceptance of offers may only be made on the basis of ascending Competitive Bid Margins or Competitive
Bid Absolute Rates, as the case may be; 
 (iv) the Borrower may not accept any offer that is described in
subsection 2.03(d)(iii) or that otherwise fails to comply with the requirements of this Agreement; and 
  

 20 

 (v) immediately after such Competitive Bid Borrowing is made, (i) the
aggregate outstanding principal amount of Loans to any Borrower plus the aggregate amount of Letter of Credit Liabilities for the account of such Borrower shall not exceed the Maximum Availability of such Borrower and (ii) the Total Outstanding
Amount shall not exceed the aggregate amount of the Commitments. 
 (g) Allocation by Administrative Agent. If offers are
made by two or more Banks with the same Competitive Bid Margins or Competitive Bid Absolute Rates, as the case may be, for a greater aggregate principal amount than the amount in respect of which such offers are accepted for the related Interest
Period, the principal amount of Competitive Bid Loans in respect of which such offers are accepted shall be allocated by the Administrative Agent among such Banks as nearly as possible (in multiples of $1,000,000, as the Administrative Agent may
deem appropriate) in proportion to the aggregate principal amounts of such offers. Determinations by the Administrative Agent of the amounts of Competitive Bid Loans shall be conclusive in the absence of manifest error. 

Section 2.04. Notice to Banks; Funding of Loans. (a) Promptly after receiving a Notice of Borrowing, the Administrative
Agent shall notify each Bank of the contents thereof and of such Bank’s share (if any) of such Borrowing and such Notice of Borrowing shall not thereafter be revocable by the Borrower. 

(b) Not later than 12:00 Noon (New York City time) on the date of each Borrowing, each Bank participating therein shall make available
its share of such Borrowing, in Federal or other funds immediately available in New York City, to the Administrative Agent at its address specified in or pursuant to Section 9.01. Unless the Administrative Agent determines that any applicable
condition specified in Article 3 has not been satisfied, the Administrative Agent will make the funds so received from the Banks available to the Borrower at the Administrative Agent’s aforesaid address. 

(c) Unless the Administrative Agent shall have received notice from a Bank before the time of any Borrowing that such Bank will not make
available to the Administrative Agent such Bank’s share of such Borrowing, the Administrative Agent may assume that such Bank has made such share available to the Administrative Agent on the date of such Borrowing in accordance with
Section 2.04(b) and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made such share available to the
Administrative Agent, such Bank and the Borrower severally agree to repay to the Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the
Borrower until the date such amount is repaid to the Administrative Agent, at (i) if such amount is repaid by the Borrower, a rate per annum equal to the higher of the Federal Funds Rate and the

  

 21 

 
interest rate applicable to such Borrowing pursuant to Section 2.06 and (ii) if such amount is repaid by such Bank, the Federal Funds Rate. If such Bank shall repay to the
Administrative Agent such corresponding amount, the Borrower shall not be required to repay such amount and the amount so repaid by such Bank shall constitute such Bank’s Loan included in such Borrowing for purposes of this Agreement.

 Section 2.05. Maturity of Loans. (a) Each Committed Loan shall mature, and the principal amount thereof
shall be due and payable (together with interest accrued thereon), on the Termination Date of the applicable Bank. 
 (b) Each
Competitive Bid Loan included in any Competitive Bid Borrowing shall mature, and the principal amount thereof shall be due and payable (together with interest accrued thereon), on the last day of the Interest Period applicable to such Borrowing.

 Section 2.06. Interest Rates. (a) Each Base Rate Loan shall bear interest on the outstanding principal
amount thereof, for each day from the date such Loan is made until it becomes due, at a rate per annum equal to the Base Rate for such day. Such interest shall be payable quarterly in arrears on each Quarterly Payment Date. Any overdue principal of
or interest on any Base Rate Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 2% plus the Base Rate for such day. 

(b) Each Euro-Dollar Loan shall bear interest on the outstanding principal amount thereof, for each day during each Interest Period
applicable thereto, at a rate per annum equal to the sum of the Euro-Dollar Margin for such day plus the London Interbank Offered Rate applicable to such Interest Period. Such interest shall be payable for each Interest Period on the last day
thereof and, if such Interest Period is longer than three months, at intervals of three months after the first day thereof. 

The “London Interbank Offered Rate” applicable to any Interest Period means the BBA LIBOR Rate appearing on Reuters
Telerate Successor Page 3750 (or on any successor or substitute page of such provider, or any successor to or substitute for such provider, providing rate quotations comparable to those currently provided on such page of such Service, as determined
by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 A.M. (London time), two Euro-Dollar Business Days prior to the
commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the “London Interbank Offered Rate”
applicable to such Interest Period means the average (rounded upward, if necessary, to the next higher 1/16 of 1%) of the respective rates per annum at which deposits in dollars are offered to each of the Euro-Dollar Reference Banks

  

 22 

 
in the London interbank market at approximately 11:00 A.M. (London time) two Euro-Dollar Business Days before the first day of such Interest Period in an amount approximately equal to the
principal amount of the Euro-Dollar Loan of such Euro-Dollar Reference Bank to which such Interest Period is to apply and for a period of time comparable to such Interest Period. 

(c) Any overdue principal of or interest on any Euro-Dollar Loan shall bear interest, payable on demand, for each day until paid at a
rate per annum equal to the higher of (i) the sum of 2% plus the Euro-Dollar Margin for such day plus the London Interbank Offered Rate applicable to such Loan on the day before such payment was due and (ii) the sum of 2% plus the
Euro-Dollar Margin for such day plus a rate per annum equal to the quotient obtained (rounded upward, if necessary, to the next higher 1/100 of 1%) by dividing (x) the average (rounded upward, if necessary, to the next higher 1/16 of 1%) of the
respective rates per annum at which one day (or, if such amount due remains unpaid more than three Euro-Dollar Business Days, then for such other period of time not longer than three months as the Administrative Agent may select) deposits in dollars
in an amount approximately equal to such overdue payment due to each of the Euro-Dollar Reference Banks are offered to such Euro-Dollar Reference Bank in the London interbank market for the applicable period determined as provided above by
(y) 1.00 minus the Euro-Dollar Reserve Percentage (or, if the circumstances described in clause 8.01(a) or 8.01(b) shall exist, at a rate per annum equal to the sum of 2% plus the Base Rate for such day). 

(d) Subject to Section 8.01, each Competitive Bid LIBOR Loan shall bear interest on the outstanding principal amount thereof, for
the Interest Period applicable thereto, at a rate per annum equal to the sum of the London Interbank Offered Rate for such Interest Period (determined in accordance with Section 2.06(b) as if the related Competitive Bid LIBOR Borrowing were a
Committed Euro-Dollar Borrowing) plus (or minus) the Competitive Bid Margin quoted by the Bank making such Loan. Each Competitive Bid Absolute Rate Loan shall bear interest on the outstanding principal amount thereof, for the Interest Period
applicable thereto, at a rate per annum equal to the Competitive Bid Absolute Rate quoted by the Bank making such Loan. Such interest shall be payable for each Interest Period on the last day thereof and, if such Interest Period is longer than three
months, at intervals of three months after the first day thereof. Any overdue principal of or interest on any Competitive Bid Loan shall bear interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 2% plus the
Base Rate for such day. 
 (e) The Administrative Agent shall determine each interest rate applicable to the Loans hereunder.
The Administrative Agent shall promptly notify the Borrower and the participating Banks of each rate of interest so determined, and its determination thereof shall be conclusive in the absence of manifest error. 

 

 23 

 (f) Each Euro-Dollar Reference Bank agrees to use its best efforts to furnish quotations to
the Administrative Agent as contemplated by this Section. If any Euro-Dollar Reference Bank does not furnish a timely quotation, the Administrative Agent shall determine the relevant interest rate on the basis of the quotation or quotations
furnished by the remaining Euro-Dollar Reference Bank or Banks or, if none of such quotations is available on a timely basis, the provisions of Section 8.01 shall apply. 

Section 2.07. Method of Electing Interest Rates. (a) The Loans included in each Committed Borrowing shall bear interest
initially at the type of rate specified by the Borrower in the applicable Notice of Committed Borrowing. Thereafter, the Borrower may from time to time elect to change or continue the type of interest rate borne by each Group of Loans (subject to
Section 2.07(d) and the provisions of Article 8), as follows: 
 (i) if such Loans are Base Rate Loans, the
Borrower may elect to convert such Loans to Euro-Dollar Loans as of any Euro-Dollar Business Day; and 
 (ii) if
such Loans are Euro-Dollar Loans, the Borrower may elect to convert such Loans to Base Rate Loans as of any Domestic Business Day or elect to continue such Loans as Euro-Dollar Loans for an additional Interest Period, subject to Section 2.12 if
any such conversion is effective on any day other than the last day of an Interest Period applicable to such Loans. 
 Each such
election shall be made by delivering a notice (a “Notice of Interest Rate Election”) to the Administrative Agent not later than 10:30 A.M. (New York City time) on the third Euro-Dollar Business Day before the conversion or
continuation selected in such notice is to be effective. A Notice of Interest Rate Election may, if it so specifies, apply to only a portion of the aggregate principal amount of the relevant Group of Loans; provided that (i) such portion
is allocated ratably among the Loans comprising such Group and (ii) the portion to which such Notice applies, and the remaining portion to which it does not apply, are each at least $5,000,000 (unless such portion is comprised of Base Rate
Loans). If no such notice is timely received before the end of an Interest Period for any Group of Euro-Dollar Loans, the Borrower shall be deemed to have elected that such Group of Loans be converted to Base Rate Loans at the end of such Interest
Period. 
 (b) Each Notice of Interest Rate Election shall specify: 

(i) the Group of Loans (or portion thereof) to which such notice applies; 

 

 24 

 (ii) the date on which the conversion or continuation selected in such
notice is to be effective, which shall comply with the applicable clause of Section 2.07(a) above; 
 (iii)
if the Loans comprising such Group are to be converted, the new type of Loans and, if the Loans resulting from such conversion are to be Euro-Dollar Loans, the duration of the next succeeding Interest Period applicable thereto; and 

(iv) if such Loans are to be continued as Euro-Dollar Loans for an additional Interest Period, the duration of such
additional Interest Period. 
 Each Interest Period specified in a Notice of Interest Rate Election shall comply with the
provisions of the definition of Interest Period. 
 (c) Promptly after receiving a Notice of Interest Rate Election from the
Borrower pursuant to Section 2.07(a) above, the Administrative Agent shall notify each Bank of the contents thereof and such notice shall not thereafter be revocable by the Borrower. 

(d) The Borrower shall not be entitled to elect to convert any Committed Loans to, or continue any Committed Loans for an additional
Interest Period as, Euro-Dollar Loans if (i) the aggregate principal amount of any Group of Euro-Dollar Loans created or continued as a result of such election would be less than $5,000,000 or (ii) a Default shall have occurred and be
continuing when the Borrower delivers notice of such election to the Administrative Agent. 
 (e) If any Committed Loan is
converted to a different type of Loan, the Borrower shall pay, on the date of such conversion, the interest accrued to such date on the principal amount being converted. 

Section 2.08. Fees. (a) Each Borrower shall pay to the Administrative Agent, for the account of the Banks ratably in
proportion to their Credit Exposures, a facility fee calculated for each day at the Facility Fee Rate for such day (determined in accordance with the Pricing Schedule) on such Borrower’s allocated share of the aggregate amount of the Credit
Exposures on such day. For this purpose, and solely for this purpose, there shall be allocated to each Borrower a portion of the aggregate Credit Exposures equal to the sum of (i) the aggregate outstanding principal amount of all Loans to, and
Letter of Credit Liabilities for the account of, such Borrower at such date and (ii) such Borrower’s Availability Share of the excess, if any, at such date of the aggregate amount of the Commitments over the Total Outstanding Amount. Such
facility fee shall accrue for each day from and including the Effective Date to but excluding the day on which the Credit Exposures are reduced to zero. 
  

 25 

 (b) The Borrower shall pay (i) to the Administrative Agent for the account of the Banks
ratably a letter of credit fee accruing daily on the aggregate undrawn amount of all outstanding Letters of Credit at a rate per annum equal to the Euro-Dollar Margin for such day and (ii) to each Issuing Bank for its own account, a letter of
credit fronting fee accruing daily on the aggregate amount then available for drawing under all Letters of Credit issued by such Issuing Bank at such rate as may be mutually agreed between the Borrower and such Issuing Bank from time to time.

 (c) Fees accrued for the account of the Banks under this Section shall be payable quarterly in arrears on each Quarterly
Payment Date and on the day on which the Commitments terminate in their entirety (and, if later, on the day on which the Credit Exposures are reduced to zero). Any overdue fees accrued for the account of the Banks under this Section shall bear
interest, payable on demand, for each day until paid at a rate per annum equal to the sum of 2% plus the Base Rate for such day. 

Section 2.09. Termination or Reduction of Commitments. (a) The Borrowers may, upon at least three Domestic Business
Days’ irrevocable notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letter of Credit Liabilities are outstanding at such time, or (ii) ratably reduce from time to time by an aggregate amount
of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount. Promptly after receiving a notice pursuant to this subsection, the Administrative Agent shall notify each Bank of
the contents thereof. 
 (b) Unless previously terminated, each Bank’s Commitment shall terminate on the Termination Date
applicable to such Bank. 
 Section 2.10. Optional Prepayments. (a) Subject in the case of Fixed Rate Loans to
Section 2.12, the Borrower may (i) upon at least one Domestic Business Day’s notice to the Administrative Agent, prepay any Group of Base Rate Loans (or any Competitive Bid Borrowing bearing interest at the Base Rate pursuant to
Section 8.01) or (ii) upon at least three Euro-Dollar Business Days’ notice to the Administrative Agent, prepay any Group of Euro-Dollar Loans, in each case in whole at any time, or from time to time in part in amounts aggregating
$5,000,000 or any larger multiple of $1,000,000, by paying the principal amount to be prepaid together with interest accrued thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several
Banks included in such Group of Loans (or such Competitive Bid Borrowing). 
 (b) Except as provided in Section 2.10(a)
above, the Borrower may not prepay all or any portion of the principal amount of any Competitive Bid Loan before the maturity thereof. 
  

 26 

 (c) Promptly after receiving a notice of prepayment pursuant to this Section, the
Administrative Agent shall notify each Bank of the contents thereof and of such Bank’s ratable share (if any) of such prepayment, and such notice shall not thereafter be revocable by the Borrower. 

Section 2.11. General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest
on, the Loans and of fees hereunder not later than 12:00 Noon (New York City time) on the date when due, in Federal or other funds immediately available in New York City, to the Administrative Agent at its address specified in or pursuant to
Section 9.01. The Administrative Agent will promptly distribute to each Bank its ratable share of each such payment received by the Administrative Agent for the account of the Banks. Whenever any payment of principal of, or interest on, the
Base Rate Loans or any payment of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the
Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in
which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. Whenever any payment of principal of, or interest on, the Competitive Bid Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for
payment thereof shall be extended to the next succeeding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time. 

(b) Unless the Borrower notifies the Administrative Agent before the date on which any payment is due to the Banks hereunder that the
Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance on such assumption, cause to be
distributed to each Bank on such due date an amount equal to the amount then due such Bank. If and to the extent that the Borrower shall not have so made such payment, each Bank shall repay to the Administrative Agent forthwith on demand such amount
distributed to such Bank together with interest thereon, for each day from the date such amount is distributed to such Bank until the date such Bank repays such amount to the Administrative Agent, at the Federal Funds Rate. 

Section 2.12. Funding Losses. If the Borrower makes any payment of principal with respect to any Fixed Rate Loan or any Fixed
Rate Loan is converted to a different type of Loan (whether such payment or conversion is pursuant to Article 2, 6 or 8 or otherwise) on any day other than the last day of an Interest Period applicable thereto, or the last day of an applicable
period fixed pursuant to Section 2.06(c), or if the Borrower fails to borrow, prepay, convert or continue any Fixed Rate Loan after notice has been given to any Bank in 

 

 27 

 
accordance with Section 2.04(a), 2.07(c) or 2.10(c), the Borrower shall reimburse each Bank within 15 days after demand for any resulting loss or expense incurred by it (or by an existing or
prospective Participant in the related Loan), including (without limitation) any loss incurred in obtaining, liquidating or employing deposits from third parties, but excluding loss of margin for the period after such payment or conversion or
failure to borrow, prepay, convert or continue; provided that such Bank shall have delivered to the Borrower a certificate as to the amount of such loss or expense, which certificate shall be conclusive in the absence of manifest error.

 Section 2.13. Computation of Interest and Fees. Interest based on the Prime Rate hereunder shall be computed on
the basis of a year of 365 days (or 366 days in a leap year) and paid for the actual number of days elapsed (including the first day but excluding the last day). All other interest and fees shall be computed on the basis of a year of 360 days and
paid for the actual number of days elapsed (including the first day but excluding the last day). 
 Section 2.14. Notes.
(a) Each Borrower hereby agrees that, upon the request of any Bank at any time, such Bank’s Loans shall be evidenced by a promissory note or notes of such Borrower (each a “Note”), substantially in the form of Exhibit
A hereto, payable to the order of such Bank and representing the obligation of such Borrower to pay the unpaid principal amount of the Loans made to such Borrower by such Bank, with interest as provided herein on the unpaid principal amount from
time to time outstanding. 
 (b) Each Bank shall record the date, amount and type of each Loan made by it and the date and
amount of each payment of principal made by the Borrower with respect thereto, and may, if such Bank so elects in connection with any transfer or enforcement of its Note, endorse on the schedule forming a part thereof appropriate notations to
evidence the foregoing information with respect to each such Loan then outstanding; provided that a Bank’s failure to make (or any error in making) any such recordation or endorsement shall not affect the Borrower’s obligations
hereunder or under the Notes. Each Bank is hereby irrevocably authorized by the Borrower so to endorse its Note and to attach to and make a part of its Note a continuation of any such schedule as and when required. 

Section 2.15. Regulation D Compensation. If and so long as a reserve requirement of the type described in the definition of
“Euro-Dollar Reserve Percentage” is prescribed by the Board of Governors of the Federal Reserve System (or any successor), each Bank subject to such requirement may require the Borrower to pay, contemporaneously with each payment of
interest on each of such Bank’s Euro-Dollar Loans, additional interest on such Euro-Dollar Loan at a rate per annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate
divided by (B) one minus the Euro-Dollar Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank wishing to require payment of such additional interest

  

 28 

 
(x) shall so notify the Borrower and the Administrative Agent, in which case such additional interest on the Euro-Dollar Loans of such Bank to such Borrower shall be payable to such Bank at the
place indicated in such notice with respect to each Interest Period commencing at least three Euro-Dollar Business Days after such Bank gives such notice and (y) shall notify the Borrower at least five Euro-Dollar Business Days before each date
on which interest is payable on the Euro-Dollar Loans of the amount then due it under this Section. 
 Section 2.16.
Change of Control. If a Change of Control shall occur with respect to any Borrower, (i) such Borrower will, promptly after the occurrence thereof, give each Bank notice thereof and shall describe in reasonable detail the facts and
circumstances giving rise thereto and (ii) each Bank may, by three Domestic Business Days’ notice to such Borrower and the Administrative Agent given not later than 60 days after such notice of Change of Control is received, terminate its
Commitment as to such Borrower, which shall thereupon be terminated, and declare the Loans to such Borrower held by it (together with accrued interest thereon) and any other amounts payable hereunder for its account to be, and such Loans and such
other amounts shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by such Borrower. 

Section 2.17. Increased Commitments; Additional Banks. 

(a) From time to time the Borrowers may, upon at least five Domestic Business Days’ notice to the Administrative Agent (which shall
promptly provide a copy of such notice to the Banks), increase the aggregate amount of the Commitments by an amount not less than $25,000,000 (the amount of any such increase, the “Increased Commitments”). 

(b) To effect such an increase, the Borrowers may designate one or more of the existing Banks or other financial institutions reasonably
acceptable to the Administrative Agent, each Issuing Bank and the Borrowers which at the time agree to (i) in the case of any such Person that is an existing Bank, increase its Commitment and (ii) in the case of any other such Person,
become a party to this Agreement with a Commitment of not less than $5,000,000. 
 (c) Any increase in the Commitments pursuant
to this Section 2.17 shall be subject to satisfaction of the following conditions: 
 (i) before and after
giving effect to such increase, all representations and warranties contained in Article 4 shall be true; 
 (ii)
at the time of such increase, no Default shall have occurred and be continuing or would result from such increase; and 
  

 29 

 (iii) after giving effect to such increase, the aggregate amount of all
increases in Commitments made pursuant to this Section 2.17 shall not exceed $500,000,000. 
 (d) An increase in the
aggregate amount of the Commitments pursuant to this Section 2.17 shall become effective upon the receipt by the Administrative Agent of (i) an agreement in form and substance reasonably satisfactory to the Administrative Agent signed by
the Borrowers, by each Additional Bank and by each other Bank whose Commitment is to be increased, setting forth the new Commitments of such Banks and setting forth the agreement of each Additional Bank to become a party to this Agreement and to be
bound by all the terms and provisions hereof, (ii) such evidence of appropriate corporate authorization on the part of the Borrowers with respect to the Increased Commitments and such opinions of counsel for the Borrowers with respect to the
Increased Commitments as the Administrative Agent may reasonably request and (iii) a certificate of the Borrowers stating that the conditions set forth in subsection (c) above have been satisfied. 

(e) Upon any increase in the aggregate amount of the Commitments pursuant to this Section 2.17, (i) the respective Letter of
Credit Liabilities of the Banks shall be redetermined as of the effective date of such increase and (ii) within five Domestic Business Days, in the case of Base Rate Loans then outstanding, and at the end of the then current Interest Period
with respect thereto, in the case of Euro-Dollar Loans then outstanding, the Borrowers shall prepay or repay such Loans in their entirety and, to the extent the Borrowers elect to do so and subject to the conditions specified in Article 3, the
Borrowers shall reborrow Committed Loans from the Banks in proportion to their respective Commitments after giving effect to such increase, until such time as all outstanding Committed Loans are held by the Banks in such proportion. 

(f) An increase in the aggregate amount of the Commitments pursuant to this Section 2.17 shall result in an increase to the Maximum
Availability of each Borrower such that the ratio of (x) the Maximum Availability of each Borrower to the Commitments prior to the Increased Commitments is consistent with the ratio of (y) the Maximum Availability of each Borrower to the
Commitments after the Increased Commitments. 
 Section 2.18. Letters of Credit. 

(a) Commitment to Issue Letters of Credit. Subject to the terms and conditions hereof, each Issuing Bank agrees to issue Letters
of Credit from time to time on a date not less than 30 days prior to the Termination Date upon the request of each Borrower; provided that, immediately after each Letter of Credit is issued, (A) the Total Outstanding Amount shall not
exceed the aggregate amount of the Commitments, and (B) the aggregate outstanding principal amount of Loans to any Borrower plus the aggregate amount of Letter of Credit Liabilities 

 

 30 

 
for the account of such Borrower shall not exceed the Maximum Availability of such Borrower. Upon the date of issuance by an Issuing Bank of a Letter of Credit, the Issuing Bank shall be deemed,
without further action by any party hereto, to have sold to each Bank, and each Bank shall be deemed, without further action by any party hereto, to have purchased from the Issuing Bank, a participation in such Letter of Credit and the related
Letter of Credit Liabilities in the proportion its respective Commitment bears to the aggregate Commitments. 
 (b) Method
for Issuance; Terms; Extensions. 
 (i) The Borrower shall give the Issuing Bank notice at least three
Domestic Business Days (or such shorter notice as may be acceptable to the Issuing Bank in its discretion) prior to the requested issuance of a Letter of Credit (or, in the case of renewal or extension, prior to the Issuing Bank’s deadline for
notice of nonextension) specifying the date such Letter of Credit is to be issued, and describing the terms of such Letter of Credit and the nature of the transactions to be supported thereby (such notice, including any such notice given in
connection with the extension of a Letter of Credit, a “Notice of Issuance”). Upon receipt of a Notice of Issuance, the Issuing Bank shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify
each Bank of the contents thereof and of the amount of such Bank’s participation in such Letter of Credit. 

(ii) The obligation of the Issuing Bank to issue each Letter of Credit shall, in addition to the conditions precedent set
forth in Section 3.02 be subject to the conditions precedent that such Letter of Credit shall be in such form and contain such terms as shall be reasonably satisfactory to the Issuing Bank and that the Borrower shall have executed and delivered
such other customary instruments and agreements relating to such Letter of Credit as the Issuing Bank shall have reasonably requested. The Borrower shall also pay to the Issuing Bank for its own account issuance, drawing, amendment, settlement and
extension charges, if any, in the amounts and at the times as agreed between the Borrower and the Issuing Bank. 

(iii) The extension or renewal of any Letter of Credit shall be deemed to be an issuance of such Letter of Credit, and if
any Letter of Credit contains a provision pursuant to which it is deemed to be extended unless notice of termination is given by the Issuing Bank, the Issuing Bank shall timely give such notice of termination unless it has theretofore timely
received a Notice of Issuance and the other conditions to issuance of a Letter of Credit have also theretofore been met with respect to such extension. Each Letter of Credit shall expire at or before the close of business on the date that is one
year after such Letter of Credit is issued (or, in the case of any renewal or extension thereof, one year after such 

 

 31 

 
renewal or extension); provided that (i) a Letter of Credit may contain a provision pursuant to which it is deemed to be extended on an annual basis unless notice of termination is
given by the Issuing Bank and (ii) in no event will a Letter of Credit expire (including pursuant to a renewal or extension thereof) on a date later than the Letter of Credit Termination Date. 

(c) Payments; Reimbursement Obligations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the
Issuing Bank shall notify the Administrative Agent and the Administrative Agent shall promptly notify the Borrower and each other Bank as to the amount to be paid as a result of such demand or drawing and the date such payment is to be made by the
Issuing Bank (the “Payment Date”). The Borrower shall be irrevocably and unconditionally obligated to reimburse the Issuing Bank for any amounts paid by the Issuing Bank upon any drawing under any Letter of Credit, without
presentment, demand, protest or other formalities of any kind. Such reimbursement shall be due on the Payment Date; provided that no such payment shall be due from the Borrower any earlier than the date of receipt by it of notice of its
obligation to make such payment (or, if such notice is received by the Borrower after 10:00 A.M. (New York City time) on any date, on the next succeeding Domestic Business Day); and provided further that if and to the extent any such
reimbursement is not made by the Borrower in accordance with this clause (i) or clause (ii) below on the Payment Date, then (irrespective of when notice thereof is received by the Borrower), such reimbursement obligation shall bear
interest, payable on demand, for each day from and including the Payment Date to but not including the date such reimbursement obligation is paid in full at a rate per annum equal to the rate applicable to Base Rate Loans for such day. 

(ii) If the Commitments remain in effect on the Payment Date, all such amounts paid by the Issuing Bank and remaining
unpaid by the Borrower after the date and time required by Section 2.18(c)(i) (a “Reimbursement Obligation”) shall, if and to the extent that the amount of such Reimbursement Obligation would be permitted as a Borrowing of
Committed Loans pursuant to Section 3.02, and unless the Borrower otherwise instructs the Administrative Agent by not less than one Domestic Business Day’s prior notice, convert automatically to Base Rate Loans on the date such
Reimbursement Obligation arises. The Administrative Agent shall, on behalf of the Borrower (which hereby irrevocably directs the Administrative Agent so to act on its behalf), give notice no later than 12:00 Noon (New York City time) on such date
requesting each Bank to make, and each Bank hereby agrees to make, a Base Rate Loan, in an amount equal to such Bank’s Percentage of the 

 

 32 

 
Reimbursement Obligation with respect to which such notice relates. Each Bank shall make such Loan available to the Administrative Agent at its address referred to in Section 9.01 in
immediately available funds, not later than 2:00 P.M. (New York City time), on the date specified in such notice. The Administrative Agent shall pay the proceeds of such Loans to the Issuing Bank, which shall immediately apply such proceeds to repay
the Reimbursement Obligation. 
 (iii) To the extent the Reimbursement Obligation is not refunded by a Bank
pursuant to clause (ii) above, such Bank will pay to the Administrative Agent, for the account of the Issuing Bank, immediately upon the Issuing Bank’s demand at any time during the period commencing after such Reimbursement Obligation
arises until reimbursement therefor in full by the Borrower, an amount equal to such Bank’s Percentage of such Reimbursement Obligation, together with interest on such amount for each day from the date of the Issuing Bank’s demand for such
payment (or, if such demand is made after 1:00 P.M. (New York City time) on such date, from the next succeeding Domestic Business Day) to the date of payment by such Bank of such amount at a rate of interest per annum equal to the Federal Funds Rate
for the first three Domestic Business Days after the date of such demand and thereafter at a rate per annum equal to the Base Rate for each additional day. The Issuing Bank will pay to each Bank ratably all amounts received from the Borrower for
application in payment of its Reimbursement Obligations in respect of any Letter of Credit, but only to the extent such Bank has made payment to the Issuing Bank in respect of such Letter of Credit pursuant hereto; provided that in the event
such payment received by the Issuing Bank is required to be returned, such Bank will return to the Issuing Bank any portion thereof previously distributed to it by the Issuing Bank. 

(d) Obligations Absolute. The obligations of the Borrower and each Bank under subsection (c) above shall be absolute,
unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, under all circumstances whatsoever, including without limitation the following circumstances: 

(i) any lack of validity or enforceability of this Agreement or any Letter of Credit or any document related hereto or
thereto; 
 (ii) any amendment or waiver of or any consent to departure from all or any of the provisions of this
Agreement or any Letter of Credit or any document related hereto or thereto, provided by any party affected thereby; 
  

 33 

 (iii) the use which may be made of the Letter of Credit by, or any acts or
omission of, a beneficiary of a Letter of Credit (or any Person for whom the beneficiary may be acting); 
 (iv)
the existence of any claim, set-off, defense or other rights that the Borrower may have at any time against a beneficiary of a Letter of Credit (or any Person for whom the beneficiary may be acting), any Bank (including the Issuing Bank) or any
other Person, whether in connection with this Agreement or the Letter of Credit or any document related hereto or thereto or any unrelated transaction; 

(v) any statement or any other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in
any respect or any statement therein being untrue or inaccurate in any respect whatsoever; 
 (vi) payment under
a Letter of Credit against presentation to the Issuing Bank of documents that do not comply with the terms of such Letter of Credit; 

(vii) any termination of the Commitments prior to, on or after the Payment Date for any Letter of Credit, whether at the
scheduled termination thereof, by operation of Section 6.01 or otherwise; or 
 (viii) any other act or
omission to act or delay of any kind by any Bank (including the Issuing Bank), the Administrative Agent or any other Person or any other event or circumstance whatsoever that might, but for the provisions of this subsection (viii), constitute a
legal or equitable discharge of or defense to the Borrower’s or the Bank’s obligations hereunder; 
 provided, that this
Section 2.18(d) shall not limit the rights of the Borrower under Section 2.18(e)(ii). 
 (e) Indemnification;
Expenses. 
 (i) The Borrower hereby indemnifies and holds harmless each Bank (including each Issuing Bank)
and the Administrative Agent from and against any and all claims, damages, losses, liabilities, costs or expenses which it may reasonably incur in connection with a Letter of Credit issued pursuant to this Section 2.17; provided that the
Borrower shall not be required to indemnify any Bank, or the Administrative Agent, for any claims, damages, losses, liabilities, costs or expenses, to the extent found by a court of competent jurisdiction to have been caused by the gross negligence
or willful misconduct of such Person. 
  

 34 

 (ii) None of the Banks (including, subject to subsection (g) below, an
Issuing Bank) nor the Administrative Agent nor any of their officers or directors or employees or agents shall be liable or responsible, by reason of or in connection with the execution and delivery or transfer of or payment or failure to pay under
any Letter of Credit, including without limitation any of the circumstances enumerated in subsection (d) above; provided that, notwithstanding Section 2.18(d), the Borrower shall have a claim for direct (but not consequential)
damage suffered by it, to the extent finally determined by a court of competent jurisdiction to have been caused by (x) the Issuing Bank’s gross negligence or willful misconduct in determining whether documents presented under any Letter
of Credit complied with the terms of such Letter of Credit or (y) the Issuing Bank’s failure to pay under any Letter of Credit after the presentation to it of documents strictly complying with the terms and conditions of the Letter of
Credit. The parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its discretion, either accept and make payment upon such
documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such
Letter of Credit. 
 (iii) Nothing in this subsection (e) is intended to limit the obligations of the
Borrower under any other provision of this Agreement. To the extent the Borrower does not indemnify an Issuing Bank as required by this subsection, the Banks agree to do so ratably in accordance with their Commitments. 

(f) Stop Issuance Notice. If the Required Banks reasonably determine at any time that the conditions set forth in
Section 3.02 would not be satisfied in respect of a Borrowing at such time, then the Required Banks may request that the Administrative Agent issue a “Stop Issuance Notice”, and the Administrative Agent shall issue such notice
to each Issuing Bank. Such Stop Issuance Notice shall be withdrawn upon a determination by the Required Banks that the circumstances giving rise thereto no longer exist. No Letter of Credit shall be issued while a Stop Issuance Notice is in effect.
The Required Banks may request issuance of a Stop Issuance Notice only if there is a reasonable basis therefor, and shall consider reasonably and in good faith a request from the Borrower for withdrawal of the same on the basis that the conditions
in Section 3.02 are satisfied, provided that the Administrative Agent and the Issuing Banks may and shall conclusively rely upon any Stop Issuance Notice while it remains in effect. 

(g) If the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to or entered
into by the Issuing Bank relating to any Letter of Credit are not consistent with the terms and 
  

 35 

 
conditions of this Agreement, the terms and conditions of this Agreement shall control, provided that, to the extent the Issuing Bank so agrees in such other documentation, its liabilities
and responsibilities in connection with a Letter of Credit may be governed thereby rather than by subsection (e)(ii), but such agreement by the Issuing Bank may not directly or indirectly alter the rights and obligations of any other Bank under this
Agreement. 
 Section 2.19. Extension Option. (a) The Termination Date may be extended in the manner set forth
in this Section for a period of one year from the Termination Date then in effect. If the Borrowers wish to request an extension of the Termination Date, the Borrowers shall give written notice to that effect to the Administrative Agent not less
than 30 days nor more than 90 days prior to each anniversary of the date hereof that occurs on or prior to the Termination Date then in effect, whereupon the Administrative Agent shall promptly notify each of the Banks of such request. Each Bank
will use its best efforts to respond to such request, whether affirmatively or negatively, as it may elect in its sole and absolute discretion, within 30 days of such notice to the Administrative Agent. If any Bank shall not have responded
affirmatively within such 30-day period, such Bank shall be deemed to have rejected the Borrowers’ proposal to extend its Commitment and only the Commitments of those Banks which have responded affirmatively shall be extended. 

(b) Any extension of the Commitments pursuant to this Section 2.19 shall be subject to satisfaction of the following conditions:

 (i) before and after giving effect to such extension, all representations and warranties contained in Article
4 shall be true; 
 (ii) at the time of such extension, no Default shall have occurred and be continuing or would
result from such extension; and 
 (iii) receipt by the Administrative Agent of counterparts of an Extension
Agreement in substantially the form of Exhibit K hereto (the “Extension Agreement”) duly completed and signed by the Borrowers, the Administrative Agent and all of the Banks which have responded affirmatively, which Banks shall have
more than 50% of the aggregate amount of the Commitments. 
 (c) If any Bank rejects, or is deemed to have rejected, the
Borrowers’ proposal to extend its Commitment, (A) such Bank’s Commitment shall terminate on the Termination Date then in effect with respect to such Bank, (B) the Borrowers shall pay to such Bank on such Termination Date any
amounts due and payable to such Bank on such date and (C) the Borrowers may, if they so elect, designate a Person not theretofore a Bank and acceptable to the Administrative Agent to become a Bank, or agree with an existing Bank that such
Bank’s Commitment shall be increased, provided that any designation or agreement may 
  

 36 

 
not increase the aggregate amount of the Commitments. Upon execution and delivery by the Borrowers and such Bank or Additional Bank of an instrument of assumption in form and amount satisfactory
to the Administrative Agent and execution and delivery of the Extension Agreement pursuant to Section 2.19(a), such existing Bank shall have a Commitment as therein set forth or such other Person shall become a Bank with a Commitment as therein
set forth and all the rights and obligations of a Bank with such a Commitment hereunder. On the date of termination of any Bank’s Commitment as contemplated by this subsection (b), the respective participations of the other Banks in all
outstanding Letters of Credit shall be redetermined on the basis of their respective Commitments after giving effect to such termination, and the participation therein of the Bank whose Commitment is terminated shall terminate; provided that
the Borrowers shall, if and to the extent necessary to permit such redetermination of participations in Letters of Credit within the limits of the Commitments which are not terminated, prepay on such date a portion of the outstanding Loans and/or
secure cancellation of outstanding Letters of Credit, and such redetermination and termination of participations in outstanding Letters of Credit shall be conditioned upon their having done so. 

(d) The Administrative Agent shall promptly notify the Banks of the effectiveness of each extension of the Commitments pursuant to this
Section 2.19. 
 ARTICLE 3 

CONDITIONS 

Section 3.01. Effectiveness. This Amended Agreement shall become effective on the date the Administrative Agent shall have
received: 
 (a) counterparts hereof signed by each of the parties hereto (or, in the case of any party as to which an executed
counterpart shall not have been received, the Administrative Agent shall have received in form satisfactory to it telegraphic, telex or other written confirmation from such party of execution of a counterpart hereof by such party); 

(b) the opinions of the General Counsel or Vice President – Legal Services of each Borrower substantially in the form of Exhibits E,
F and G hereto, dated the Effective Date and covering such additional matters relating to the transactions contemplated hereby as the Required Banks may reasonably request; 

(c) an opinion of Davis Polk & Wardwell, special counsel for the Administrative Agent, substantially in the form of Exhibit H
hereto, dated the Effective Date and covering such additional matters relating to the transactions contemplated hereby as the Required Banks may reasonably request; 

 

 37 

 (d) evidence satisfactory to it that all filings, consents and approvals, if any, required
to be made with, or obtained from, any governmental authority in connection with the transactions contemplated hereby shall have been made or obtained and shall be, in each case, in full force and effect on and as of the Effective Date; 

(e) all documents the Administrative Agent may reasonably request relating to the existence of the Borrowers, the corporate authority for
and the validity of this Agreement and the Notes, and any other matters relevant hereto, all in form and substance satisfactory to the Administrative Agent; and 

(f) the Administrative Agent shall have received evidence satisfactory to it of the payment of all principal of and interest on any loans
outstanding under, and of all other amounts payable under, and of surrender for cancellation of any letter of credit outstanding under, the Existing 2003 Agreement; 

provided that this Agreement shall not become effective or be binding on any party hereto unless all of the foregoing conditions are satisfied not
later than June 22, 2006. The Administrative Agent shall promptly notify the Borrowers and the Banks of the Effective Date, and such notice shall be conclusive and binding on all parties hereto. 

The Banks that are parties to the Existing 2003 Agreement comprising the “Required Banks” as defined in the Existing 2003
Agreement, and the Borrowers agree that the commitments under the Existing 2003 Agreement shall terminate in their entirety simultaneously with and subject to the effectiveness of this Amended Agreement and that the accrued facility fees thereunder
to but excluding the date of such effectiveness shall be payable on the date of such effectiveness. 
 On the Effective Date,
the Existing 2005 Agreement will be automatically amended and restated in its entirety to read as set forth herein. On and after the Effective Date, the rights and obligations of the parties hereto shall be governed by this Amended Agreement;
provided that the rights and obligations of the parties hereto with respect to the period prior to the Effective Date shall continue to be governed by the provisions of the Existing 2005 Agreement. The Administrative Agent shall promptly
notify the Borrowers and each Bank of the effectiveness of this Amended Agreement, and such notice shall be conclusive and binding on all parties hereto. 

With effect from and including the Effective Date, the Commitment of each Bank shall be the amount set forth opposite the name of such
Bank in the Commitment Schedule attached hereto. On the Effective Date, any Bank party to the Existing 2005 Agreement which is not listed in the Commitment Schedule attached hereto (each, an “Exiting Bank”) shall cease to be a Bank
party to the Existing 2005 Agreement, and all accrued fees and other amounts payable under 
  

 38 

 
the Existing 2005 Agreement for the account of each Exiting Bank shall be due and payable on such date; provided that the provisions of Sections 8.03, 8.04 and 9.03 of the Existing 2005
Agreement shall continue to inure to the benefit of each Exiting Bank after the Effective Date. The participation of an Exiting Bank in each outstanding Letter of Credit shall terminate on the Effective Date, and the participating interests of each
other Bank shall be redetermined on the basis of the Commitments under this Amendment Agreement as if such Letter of Credit had been issued on the Effective Date. 

Section 3.02. Borrowings and Issuances of Letters of Credit. The obligation of any Bank to make a Loan on the occasion of any
Borrowing, and the obligation of an Issuing Bank to issue (or renew or extend the term of) any Letter of Credit, is subject to the satisfaction of the following conditions: 

(a) receipt by the Administrative Agent of a (i) Notice of Borrowing as required by Section 2.02 or Section 2.03, as the
case may be or (ii) a Notice of Issuance as required by Section 2.18(b); 
 (b) the fact that, immediately after such
Borrowing or issuance (or renewal or extension), (i) the Total Outstanding Amount will not exceed the aggregate amount of the Commitments, and (ii) the aggregate outstanding principal amount of the Loans made to each Borrower plus the
aggregate amount of Letter of Credit Liabilities for the account of such Borrower will not exceed such Borrower’s Maximum Availability; 

(c) the fact that, immediately before and after such Borrowing or issuance (or renewal or extension), no Default with respect to the
Borrower shall have occurred and be continuing; 
 (d) the fact that the representations and warranties of the Borrower
contained in this Agreement (except, in the case of any such Borrowing or issuance subsequent to the Effective Date, those contained in Section 4.04(c)) shall be true on and as of the date of such Borrowing or issuance (or renewal or
extension); and 
 (e) the fact that immediately after any such Borrowing by ConEd or O&R, the aggregate outstanding
principal amount of the Loans made to ConEd or O&R, as the case may be, under this Agreement, which aggregated with any other financing covered by the same authorization, will not exceed the applicable amounts authorized, as of such date, by the
PSC or the FERC to be borrowed by such Borrower. 
 Each Borrowing or issuance of any Letter of Credit hereunder shall be deemed to be a
representation and warranty by the Borrower on the date of such Borrowing as to the facts specified in the foregoing clauses 3.02(b), 3.02(c), 3.02(d) and 3.02(e). 

 

 39 

 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES 

Each Borrower represents and warrants that: 

Section 4.01. Corporate Existence and Power. Such Borrower is a corporation duly incorporated, validly existing and in good
standing under the laws of its jurisdiction of incorporation, and has all corporate powers and all material governmental licenses, consents, authorizations and approvals required to carry on its business as now conducted. 

Section 4.02. Corporate and Governmental Authorization; No Contravention. The execution, delivery and performance by such
Borrower of this Agreement and its Notes are within such Borrower’s corporate powers, have been duly authorized by all necessary corporate action, require no action by or in respect of, or filing with, any governmental body, agency or official
(except in the case of ConEd and O&R (i) the approval of the PSC for borrowings with a maturity of more than one year, which at the date of this Amended Agreement has been obtained for borrowings prior to December 31, 2009 under one or
more revolving credit agreements in amounts at any time outstanding of up to $1.5 billion for ConEd and $325 million, less other long-term debt issued after 2005, for O&R; (ii) the authorization by the FERC of short-term borrowings, which
at the date of this Amended Agreement has been obtained for borrowings prior to December 31, 2007 in amounts at any time outstanding of up to $1.5 billion for ConEd and $200 million for O&R and (iii) the filing of such reports with the
PSC and the FERC as may be required under law) and do not contravene, or constitute a default under, any provision of applicable law or regulation or of such Borrower’s certificate of incorporation or by-laws or of any agreement, judgment,
injunction, order, decree or other instrument binding upon such Borrower or any Subsidiary of such Borrower or result in the creation or imposition of any Lien on any asset of such Borrower or any Subsidiary of such Borrower. 

Section 4.03. Binding Effect. This Agreement constitutes a valid and binding agreement of such Borrower and each Note of such
Borrower, if and when executed and delivered in accordance with this Agreement, will constitute a valid and binding obligation of such Borrower, in each case enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or
similar laws affecting creditors’ rights generally and general principles of equity. 
 Section 4.04. Financial
Information. (a) The consolidated balance sheet of such Borrower and its Consolidated Subsidiaries as of December 31, 2005 and the related consolidated statements of income, cash flows, capitalization and retained earnings for the
Fiscal Year then ended, reported on by PricewaterhouseCoopers LLP and set forth in such Borrower’s 2005 Annual Report, fairly present, in conformity with GAAP, the consolidated financial position of such Borrower and its Consolidated
Subsidiaries as of such date and their consolidated results of operations and cash flows for such Fiscal Year. 
  

 40 

 (b) The unaudited consolidated balance sheet of such Borrower and its Consolidated
Subsidiaries as of March 31, 2006 and the related consolidated statements of income, cash flows, capitalization and retained earnings for the quarter then ended set forth for ConEd and Holdings in their combined Quarterly Report on Form 10-Q
for the quarterly period ended March 31, 2006, and for O&R on its website (www.oru.com), fairly present, in conformity with GAAP, the consolidated financial position of such Borrower and its Consolidated Subsidiaries as of such date and
their consolidated results of operations and cash flows for such period. 
 (c) Since December 31, 2005 there has been no
material adverse change in the business, financial position or results of operations of such Borrower and its Consolidated Subsidiaries, considered as a whole. 

Section 4.05. Litigation. Except as disclosed in Holding’s or in such Borrower’s periodic reports filed with the
SEC pursuant to the Exchange Act from time to time, there is no action, suit or proceeding pending against, or to such Borrower’s knowledge threatened against or affecting, such Borrower or any Subsidiary of such Borrower before any court or
arbitrator or any governmental body, agency or official in which there is a reasonable possibility of an adverse decision which could materially adversely affect the business, consolidated financial position or consolidated results of operations of
such Borrower and its Consolidated Subsidiaries, considered as a whole, or which in any manner draws into question the validity or enforceability of this Agreement or the Notes. 

Section 4.06. Compliance with ERISA. Each member of the ERISA Group of such Borrower has fulfilled its obligations under the
minimum funding standards of ERISA and the Internal Revenue Code with respect to each Plan and is in compliance in all material respects with the presently applicable provisions of ERISA and the Internal Revenue Code with respect to each Plan. No
member of the ERISA Group of such Borrower has (i) sought a waiver of the minimum funding standard under Section 412 of the Internal Revenue Code in respect of any Plan, (ii) failed to make any contribution or payment to any Plan or
Multiemployer Plan, or made any amendment to any Plan, which has resulted or could result in the imposition of a Lien or the posting of a bond or other security under ERISA or the Internal Revenue Code or (iii) incurred any liability under
Title IV of ERISA other than a liability to the PBGC for premiums under Section 4007 of ERISA. 
 Section 4.07.
Environmental Matters. In the ordinary course of its business, such Borrower conducts an ongoing review of the effect of Environmental Laws on the business, operations and properties of such Borrower and its Subsidiaries, in the course of which
it identifies and evaluates associated 
  

 41 

 
liabilities and costs (including, without limitation, any capital or operating expenditures required for clean-up or closure of properties presently or previously owned, any capital or operating
expenditures required to achieve or maintain compliance with environmental protection standards imposed by law or as a condition of any license, permit or contract, any related constraints on operating activities, including any periodic or permanent
shutdown of any facility or reduction in the level of or change in the nature of operations conducted thereat, any costs or liabilities in connection with off-site disposal of wastes or Hazardous Substances and any actual or potential liabilities to
third parties, including employees, and any related costs and expenses). On the basis of this review, such Borrower has reasonably concluded that, except as disclosed in Holding’s or in such Borrower’s periodic reports filed with the SEC
pursuant to the Exchange Act from time to time, such associated liabilities and costs, including the costs of complying with Environmental Laws, are unlikely to have a Material Adverse Effect with respect to such Borrower. 

Section 4.08. Taxes. Such Borrower and its Subsidiaries have filed all United States Federal income tax returns and all other
material tax returns which are required to be filed by them and have paid all taxes due pursuant to such returns or pursuant to any assessment received by such Borrower or any Subsidiary of such Borrower, except to the extent that any such
assessment is being contested in good faith by appropriate proceedings. The charges, accruals and reserves on the books of such Borrower and its Subsidiaries in respect of material taxes or other governmental charges are, in such Borrower’s
opinion, adequate. 
 Section 4.09. Subsidiaries. Each of such Borrower’s Material Subsidiaries (if any) is a
corporation duly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation, and has all corporate powers and all material governmental licenses, authorizations, consents and approvals required to carry
on its business as now conducted. 
 Section 4.10. Investment Company Status. Such Borrower is not an
“investment company” within the meaning of the Investment Company Act of 1940, as amended. 
 Section 4.11.
Full Disclosure. Neither such Borrower’s Form 10-K for the year ended December 31, 2005, as of the date of filing of such Form 10-K, nor any registration statement (other than a registration statement on Form S-8 (or its equivalent))
or report on Form 10-K, 10-Q and 8-K (or their equivalents) which such Borrower shall have subsequently filed with the SEC, as at the time of filing of such registration statement or report, as applicable, contained any untrue statement of a
material fact or omitted to state a material fact necessary in order to make any statements contained therein, in the light of the circumstances under which they were made, not misleading. 

 

 42 

 ARTICLE 5 

COVENANTS 

Each Borrower agrees that, so long as any Bank has any Credit Exposure hereunder or any interest or fees accrued hereunder remain unpaid:

 Section 5.01. Information. Such Borrower will deliver to each of the Banks: 

(a) as soon as available and in any event within 95 days after the end of each Fiscal Year, a consolidated balance sheet of such Borrower
and its Consolidated Subsidiaries as of the end of such Fiscal Year and the related consolidated statements of income, cash flows, capitalization and retained earnings for such Fiscal Year, setting forth in each case in comparative form the figures
for the previous Fiscal Year, all reported on in a manner acceptable to the SEC by PricewaterhouseCoopers LLP or other independent public accountants of nationally recognized standing; 

(b) as soon as available and in any event within 50 days after the end of each of the first three Fiscal Quarters of each Fiscal Year, a
consolidated balance sheet of such Borrower and its Consolidated Subsidiaries as of the end of such Fiscal Quarter, the related consolidated statements of income and cash flows for such Fiscal Quarter and the related consolidated statements of
income and cash flows for the portion of the Fiscal Year ended at the end of such Fiscal Quarter, setting forth in the case of each such statement of income and cash flows in comparative form the figures for the corresponding period in the previous
Fiscal Year, all certified (subject to normal year-end adjustments) as to fairness of presentation and consistency with GAAP by such Borrower’s chief financial officer, chief accounting officer or controller, or treasurer; 

(c) simultaneously with the delivery of each set of financial statements referred to in clauses 5.01(a) and 5.01(b) above, a certificate
of such Borrower’s chief financial officer or chief accounting officer (i) setting forth in reasonable detail the calculations required to establish whether such Borrower was in compliance with the requirements of Section 5.10 and
(ii) stating whether any Default with respect to such Borrower exists on the date of such certificate and, if any Default with respect to such Borrower then exists, setting forth the details thereof and the action which such Borrower is taking
or proposes to take with respect thereto; 
 (d) within five Domestic Business Days after any officer of such Borrower obtains
knowledge of any Default with respect to such Borrower, if such Default with respect to such Borrower is then continuing, a certificate of such Borrower’s chief financial officer or chief accounting officer setting forth the details thereof and
the action which such Borrower is taking or proposes to take with respect thereto; 
  

 43 

 (e) promptly after the mailing thereof to such Borrower’s or Holdings’
shareholders generally, copies of all financial statements, reports and proxy statements so mailed; 
 (f) promptly after the
filing thereof, copies of all registration statements (other than the exhibits thereto and any registration statements on Form S-8 or its equivalent) and reports on Forms 10-K, 10-Q and 8-K (or their equivalents) filed by such Borrower with the SEC;

 (g) if and when any member of the ERISA Group of such Borrower (i) gives or is required to give notice to the PBGC of
any “reportable event” (as defined in Section 4043 of ERISA) with respect to any Plan which might constitute grounds for a termination of such Plan under Title IV of ERISA, or knows that the plan administrator of any Plan has given or
is required to give notice of any such reportable event, a copy of the notice of such reportable event given or required to be given to the PBGC; (ii) receives notice of complete or partial withdrawal liability under Title IV of ERISA or notice
that any Multiemployer Plan is in reorganization, is insolvent or has been terminated, a copy of such notice; (iii) receives notice from the PBGC under Title IV of ERISA of an intent to terminate, impose liability (other than for premiums under
Section 4007 of ERISA) in respect of, or appoint a trustee to administer any Plan, a copy of such notice; (iv) applies for a waiver of the minimum funding standard under Section 412 of the Internal Revenue Code, a copy of such
application; (v) gives notice of intent to terminate any Plan under Section 4041(c) of ERISA, a copy of such notice and other information filed with the PBGC; (vi) gives notice of withdrawal from any Plan pursuant to Section 4063
of ERISA, a copy of such notice; or (vii) fails to make any payment or contribution to any Plan or Multiemployer Plan or makes any amendment to any Plan which has resulted or could result in the imposition of a Lien or the posting of a bond or
other security, a certificate of such Borrower’s chief financial officer or chief accounting officer setting forth details as to such occurrence and the action, if any, which such Borrower or applicable member of the ERISA Group of such
Borrower is required or proposes to take; and 
 (h) from time to time such additional information regarding the financial
position or business of such Borrower and its Subsidiaries as the Administrative Agent, at the request of any Bank, may reasonably request. 

Section 5.02. Payment of Obligations. Such Borrower will pay and discharge, and will cause each Subsidiary of such Borrower
to pay and discharge, at or before maturity, all their respective material obligations and liabilities (including, without limitation, tax liabilities and claims of materialmen, warehousemen and the like which if unpaid might by law give rise to a
Lien), except where the same are contested in good faith by appropriate proceedings and except where the failure to pay and discharge the same could not reasonably be expected to have a Material Adverse Effect with respect to such Borrower.

  

 44 

 Section 5.03. Maintenance of Property; Insurance. (a) Such Borrower will
keep, and will cause each Material Subsidiary of such Borrower to keep, all material property necessary in its business in good working order and condition, ordinary wear and tear excepted. 

(b) Such Borrower will, and will cause each Material Subsidiary of such Borrower to, maintain (either in such Borrower’s name or in
such Subsidiary’s own name) with financially sound and responsible insurance companies, insurance on all their respective properties in at least such amounts (with no greater risk retention) and against at least such risks as are usually
maintained, retained or insured against in the same general area by companies of established repute engaged in the same or a similar business. Such Borrower will furnish to the Banks, upon request from the Administrative Agent, information presented
in reasonable detail as to the insurance so carried. 
 Section 5.04. Conduct of Business and Maintenance of Existence.
Except as otherwise permitted in accordance with Section 5.07, such Borrower and its Material Subsidiaries will continue to engage in business of the same general type as now conducted by such Borrower and its Material Subsidiaries, and
will preserve, renew and keep in full force and effect their respective corporate existences and their respective rights, privileges and franchises necessary or desirable in the normal conduct of business; provided that nothing in this
Section shall prohibit: 
 (a) the merger of a Subsidiary of such Borrower into such Borrower (other than the merger of ConEd or
O&R into Holdings) if, after giving effect thereto, no Default with respect to such Borrower shall have occurred and be continuing; 

(b) the merger or consolidation of a Subsidiary of such Borrower with or into a Person other than such Borrower (other than the merger or
consolidation of ConEd or O&R with or into Holdings) if, after giving effect thereto, no Default with respect to such Borrower shall have occurred and be continuing; or 

(c) the termination of the corporate existence of a Subsidiary of such Borrower (other than the termination of the corporate existence of
ConEd or O&R) if such Borrower in good faith determines that such termination is in the best interest of such Borrower and is not materially disadvantageous to the Banks. 

Section 5.05. Compliance with Laws. Such Borrower will comply, and will cause each Subsidiary of such Borrower to comply, in
all material respects with all applicable laws, ordinances, rules, regulations and requirements of governmental authorities (including, without limitation, Environmental Laws and ERISA and the rules and regulations thereunder), except where the
necessity of compliance therewith is contested in good faith by appropriate proceedings or except where the failure to comply could not reasonably be expected to have a Material Adverse Effect with respect to such Borrower. 

 

 45 

 Section 5.06. Inspection of Property, Books and Records. Such Borrower will
keep, and will cause each Material Subsidiary of such Borrower to keep, proper books of record and account in which full and correct entries shall be made of all dealings and transactions in relation to its business and activities; and will permit,
and will cause each Subsidiary of such Borrower to permit, at reasonable times and upon five Domestic Business Days’ notice, representatives of any Bank at such Bank’s expense to visit and inspect any of their respective properties, to
examine and make abstracts from any of their respective books and records and to discuss their respective affairs, finances and accounts with their respective officers, employees and independent public accountants. 

Section 5.07. Consolidations, Mergers and Transfers of Assets. (a) Such Borrower will not consolidate or merge with or
into any other Person; provided that such Borrower may merge with another Person if: 
 (i) either
(A) such Borrower is the corporation surviving such merger or (B) the Person (if other than such Borrower) surviving such merger or formed by such consolidation (any such Person, the “Successor”), shall be organized and
existing under the laws of the United States, any state thereof or the District of Columbia and shall expressly assume, in a writing executed and delivered to the Administrative Agent for delivery to each of the Banks, in form reasonably
satisfactory to the Administrative Agent, the due and punctual payment of the principal of and interest on its Loans and the performance of the other obligations under this Agreement and its Notes on the part of such Borrower to be performed or
observed, as fully as if such Successor were originally named as such Borrower in this Agreement; and 
 (ii)
after giving effect to such merger, no Default with respect to such Borrower shall have occurred and be continuing. 
 (b) Such
Borrower will not sell, lease or otherwise transfer, directly or indirectly, all or substantially all of its assets, to any other Person. 

Section 5.08. Use of Proceeds. The proceeds of the Loans or the Letters of Credit will be used by such Borrower in connection
with the issuance by such Borrower of commercial paper, for non-hostile acquisitions and/or for general corporate purposes. None of such proceeds will be used, directly or indirectly, for the purpose, whether immediate, incidental or ultimate, of
buying or carrying any “margin stock” within the meaning of Regulation U. 
  

 46 

 Section 5.09. Negative Pledge. Neither such Borrower nor any Subsidiary of such
Borrower will create, assume or suffer to exist any Lien on any asset now owned or hereafter acquired by it, except: 
 (a)
Liens existing on the date of this Agreement securing Debt outstanding on the date of this Agreement in an aggregate principal or face amount not exceeding $150,000,000; 

(b) Liens arising pursuant to securitization of accounts receivable in respect of recovery by ConEd or O&R of Electric and/or Steam
Stranded Cost and Liens in connection with up to $46,300,000 aggregate principal amount of 5.22% Transition Bonds, Series 2004-1 of Rockland Electric Transition Funding LLC; 

(c) any Lien existing on any asset of any Person at the time such Person becomes a Subsidiary and not created in contemplation of such
event; 
 (d) any Lien on any asset securing obligations incurred or assumed for the purpose of financing all or any part of the
cost of acquiring ownership or use of such asset or a related asset, provided that such Lien attaches to such asset concurrently with or within 90 days after such acquisition; 

(e) any Lien on any asset of any Person existing at the time such Person is merged or consolidated with or into the Borrower or a
Subsidiary and not created in contemplation of such event; 
 (f) any Lien existing on any asset prior to the acquisition
thereof by the Borrower or a Subsidiary and not created in contemplation of such acquisition; 
 (g) any Lien arising out of the
refinancing, extension, renewal or refunding of any Debt secured by any Lien permitted by any of the foregoing clauses of this Section, provided that such Debt is not increased and is not secured by any additional assets; 

(h) Liens arising in the ordinary course of its business which (i) do not secure Debt or Derivatives Obligations and (ii) do
not secure any single obligation (or class of obligations having a common cause) in an amount exceeding $25,000,000; 
 (i)
Liens on cash and cash equivalents securing Derivatives Obligations; 
 (j) Liens in the ordinary course of business for the
purpose of securing or collateralizing energy purchases or sales as may be required from time to time by an independent system operator or similar system-governing body in any jurisdiction; and 

 

 47 

 (k) Liens not otherwise permitted by the foregoing clauses of this Section securing Debt of
such Borrower and its Subsidiaries in an aggregate principal or face amount not at any time exceeding 5% of Consolidated Total Capital of such Borrower. 

Section 5.10. Debt to Total Capital. The ratio of Consolidated Debt of such Borrower to Consolidated Total Capital of such
Borrower shall not at any time exceed 0.65 to 1; provided that for the purposes of the calculation of this ratio, any non-cash effects resulting from adoption of the proposed “Statement of Financial Accounting Standards dated
March 31, 2006: Employers’ Accounting for Defined Pension and other Postretirement Plans, an amendment of FASB Statements No. 87, 88, 106, and 132(R)” will be excluded. 

Section 5.11. Transactions with Affiliates. Such Borrower will not, and will not permit any Subsidiary of such Borrower to,
directly or indirectly, pay any funds to or for the account of, make any investment (whether by acquisition of stock or indebtedness, by loan, advance, transfer of property, guarantee or other agreement to pay, purchase or service, directly or
indirectly, any Debt, or otherwise) in, lease, sell, transfer or otherwise dispose of any assets, tangible or intangible, to, or participate in, or effect, any transaction with, any Affiliate of such Borrower except (i) on an arms-length basis
on terms at least as favorable to such Borrower or such Subsidiary of such Borrower as could have been obtained from a third party that was not an Affiliate of such Borrower or (ii) as otherwise permitted by the PSC and FERC; provided
that the foregoing provisions of this Section shall not prohibit (x) any such Person from declaring or paying any lawful dividend or other payment ratably in respect of all its capital stock of the relevant class and (y) ConEd and O&R
from purchasing their own common stock or the common stock of Holdings, so long as in each case, after giving effect thereto, no Default shall have occurred and be continuing. 

ARTICLE 6 

DEFAULTS 

Section 6.01. Events of Default. If one or more of the following events (“Events of Default”) shall have
occurred and be continuing with respect to a Borrower: 
 (a) such Borrower shall (i) fail to pay when due
any principal of any Loan or any draw under any Letter of Credit (whether at stated maturity or at optional prepayment); or (ii) default in the payment of any interest on any Loan or any draw under any Letter of Credit, any fee or any other
amount payable by it hereunder when due and such default shall have continued unremedied for five days; 
  

 48 

 (b) such Borrower shall fail to observe or perform any covenant contained in
Article 5, other than those contained in Sections 5.01 through 5.06; 
 (c) such Borrower shall fail to observe
or perform any covenant or agreement (other than those covered by clause 6.01(a) or 6.01(b) above) contained in this Agreement or any amendment hereof for 7 days after the Administrative Agent gives notice thereof to such Borrower at the request of
any Bank; 
 (d) any representation, warranty, certification or statement made by such Borrower in this Agreement
or any amendment hereof or in any certificate, financial statement or other document delivered pursuant to this Agreement shall prove to have been incorrect in any material respect when made (or deemed made); 

(e) such Borrower or any Material Subsidiary of such Borrower shall fail to make one or more payments in respect of
Material Financial Obligations of such Borrower when due or within any applicable grace period; 
 (f) any event
or condition shall occur which results in the acceleration of the maturity of any Material Debt of such Borrower or enables the holder of such Debt of such Borrower or any Person acting on such holder’s behalf to accelerate the maturity
thereof; 
 (g) such Borrower or any Material Subsidiary of such Borrower shall commence a voluntary case or
other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator,
custodian or other similar official of it or any substantial part of its property, or shall consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against
it, or shall make a general assignment for the benefit of creditors, or shall fail generally to pay its debts as they become due, or shall take any corporate action to authorize any of the foregoing; 

(h) an involuntary case or other proceeding shall be commenced against such Borrower or any Material Subsidiary of such
Borrower seeking liquidation, reorganization or other relief with respect to it or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or
other similar official of it or any substantial part of its property, and such involuntary case or other proceeding shall remain 

 

 49 

 
undismissed and unstayed for a period of 60 days; or an order for relief shall be entered against such Borrower or any Material Subsidiary of such Borrower under the federal bankruptcy laws as
now or hereafter in effect; 
 (i) any member of the ERISA Group of such Borrower shall fail to pay when due an
amount or amounts aggregating in excess of $150,000,000 which it shall have become liable to pay under Title IV of ERISA; or notice of intent to terminate a Material Plan shall be filed under Title IV of ERISA by any member of the ERISA Group of
such Borrower, any plan administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate, to impose liability (other than for premiums under Section 4007 of ERISA) in respect of, or
to cause a trustee to be appointed to administer, any Material Plan; or a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating that any Material Plan must be terminated; or there shall occur a complete
or partial withdrawal from, or a default, within the meaning of Section 4219(c)(5) of ERISA, with respect to, one or more Multiemployer Plans which could cause one or more members of the ERISA Group to incur a current payment obligation in
excess of $150,000,000; or 
 (j) judgments or orders (other than judgments or orders in respect of Non-recourse
Debt) for the payment of money exceeding $150,000,000 in aggregate amount shall be rendered against such Borrower or any Subsidiary of such Borrower and such judgments or orders shall continue unsatisfied and unstayed for a period of 10 days;

 then, and in every such event, the Administrative Agent shall (i) if requested by Banks having more than 50% in aggregate amount of the
Commitments, by notice to such Borrower terminate the Commitments as to such Borrower and they shall thereupon terminate, and such Borrower shall no longer be entitled to borrow hereunder, and the Maximum Availability of such Borrower shall be $0,
and (ii) if requested by Banks holding more than 50% in aggregate unpaid principal amount of the Loans of such Borrower, by notice to such Borrower declare such Loans (together with accrued interest thereon) to be, and such Loans (together with
accrued interest thereon) shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower; provided that, if any Event of Default specified
in clause 6.01(g) or 6.01(h) occurs with respect to such Borrower, then without any notice to such Borrower or any other act by the Administrative Agent or the Banks, the Commitments shall thereupon terminate with respect to such Borrower and the
Loans to such Borrower (together with accrued interest thereon) shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower. Termination of the
Commitments or acceleration of Loans (by declaration or otherwise) as to a particular Borrower (or any related termination of such 

 

 50 

 
Borrower’s Maximum Availability) under this Section 6.01 shall not terminate the Commitments or the Maximum Availability or accelerate the Loans as to any other Borrower. 

Section 6.02. Notice of Default. The Administrative Agent shall give notice to a Borrower under Section 6.01(c) promptly
upon being requested to do so by any Bank and shall thereupon notify all the Banks thereof. 
 Section 6.03. Cash Cover.
Each Borrower agrees, in addition to the provisions of Section 6.01 hereof, that upon the occurrence and during the continuance of any Event of Default with respect to a Borrower, such Borrower shall, if requested by the Administrative
Agent upon the instruction of the Banks having more than 50% of the Letter of Credit Liabilities for the account of such Borrower, pay to the Administrative Agent an amount in immediately available funds (which funds shall be held as collateral
pursuant to arrangements satisfactory to the Administrative Agent) equal to the aggregate amount available for drawing under all such Letters of Credit outstanding at such time (the “Cash Cover Amount”), provided that, upon
the occurrence of any Event of Default specified in Section 6.01(g) or 6.01(h) with respect to such Borrower, such Borrower shall pay such amount forthwith without any notice or demand or any other act by the Administrative Agent or the Banks.
The Administrative Agent shall have exclusive dominion and control, including exclusive right of withdrawal, over the account in which the Cash Cover Amount is deposited. If any Borrower is required to provide a Cash Cover Amount, such Cash Cover
Amount (to the extent not applied pursuant to the arrangements with the Administrative Agent) shall be returned to such Borrower within three Business Days after all Events of Default have been cured or waived. 

ARTICLE 7 

THE AGENTS 

Section 7.01. Appointment and Authorization. Each Bank irrevocably appoints and authorizes the Administrative Agent to take
such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent by the terms hereof or thereof, together with all such powers as are reasonably incidental thereto. 

Section 7.02. Administrative Agent and Affiliates. JPMorgan Chase Bank, N.A. shall have the same rights and powers under this
Agreement as any other Bank and may exercise or refrain from exercising the same as though it were not the Administrative Agent, and JPMorgan Chase Bank, N.A. and its affiliates may accept deposits from, lend money to and generally engage in any
kind of business with the Borrower or any Subsidiary or affiliate of the Borrower as if it were not the Administrative Agent. 
  

 51 

 Section 7.03. Action by Administrative Agent. The obligations of the
Administrative Agent hereunder are only those expressly set forth herein. Without limiting the generality of the foregoing, the Administrative Agent shall not be required to take any action with respect to any Default, except as expressly provided
in Article 6. 
 Section 7.04. Consultation with Experts. The Administrative Agent may consult with legal counsel
(who may be counsel for any Borrower), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with the advice of such counsel, accountants
or experts. 
 Section 7.05. Liability of Administrative Agent. None of the Administrative Agent, its affiliates and
their respective directors, officers, agents and employees shall be liable for any action taken or not taken by it in connection herewith (i) with the consent or at the request of the Required Banks (or such different number of Banks as any
provision hereof expressly requires for such consent or request) or (ii) in the absence of its own gross negligence or willful misconduct. None of the Administrative Agent, its affiliates and their respective directors, officers, agents and
employees shall be responsible for or have any duty to ascertain, inquire into or verify (i) any statement, warranty or representation made in connection with this Agreement or any borrowing or issuance of a Letter of Credit hereunder;
(ii) the performance or observance of any of the covenants or agreements of any Borrower; (iii) the satisfaction of any condition specified in Article 3, except receipt of items required to be delivered to the Administrative Agent; or
(iv) the validity, effectiveness or genuineness of this Agreement, the Notes or any other instrument or writing furnished in connection herewith. The Administrative Agent shall not incur any liability by acting in reliance upon any notice,
consent, certificate, statement or other writing (which may be a bank wire, telex, facsimile or similar writing) believed by it to be genuine or to be signed by the proper party or parties. Without limiting the generality of the foregoing, the use
of the term “agent” in this Agreement with reference to the 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 merely as a matter of market custom and is intended to create or reflect only an administrative relationship between independent contracting parties. 

Section 7.06. Indemnification. The Banks shall, ratably in proportion to their Credit Exposures, indemnify the Administrative
Agent and each Issuing Bank, its affiliates and their respective directors, officers, agents and employees (to the extent not reimbursed by the Borrower) against any cost, expense (including counsel fees and disbursements), claim, demand, action,
loss or liability (except such as result from such indemnitees’ gross negligence or willful misconduct) that such indemnitees may suffer or incur in connection with this Agreement or any Letter of Credit or any action taken or omitted by such
indemnitees hereunder. 
  

 52 

 Section 7.07. Credit Decision. Each Bank acknowledges that it has, independently
and without reliance on any Agent or any other Bank, 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 Bank also acknowledges that it will,
independently and without reliance on any Agent or any other Bank, 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 any action under this
Agreement. 
 Section 7.08. Successor Administrative Agent. The Administrative Agent may resign at any time by
giving notice thereof to the Banks and the Borrowers. Upon any such resignation, the Required Banks shall have the right to appoint a successor Administrative Agent. If no successor Administrative Agent shall have been so appointed by the Required
Banks, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent gives notice of resignation, then the retiring Administrative Agent may, on behalf of the Banks, appoint a successor Administrative Agent, which
shall be a commercial bank organized or licensed under the laws of the United States or of any State thereof and having a combined capital and surplus of at least $100,000,000. Upon the acceptance of its 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 and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from
its duties and obligations hereunder. After any retiring Administrative Agent resigns as Administrative Agent hereunder, the provisions of this Article shall inure to its benefit as to actions taken or omitted to be taken by it while it was
Administrative Agent. 
 Section 7.09. Administrative Agent’s Fee. Each Borrower shall pay to the
Administrative Agent for its own account fees in the amounts and at the times previously agreed upon by such Borrower and the Administrative Agent. 

Section 7.10. Other Agents. None of the Co-Documentation Agents nor the Syndication Agent, in their capacities as such, shall
have any duties or obligations of any kind under this Agreement. 
 ARTICLE 8 

CHANGE IN CIRCUMSTANCES 

Section 8.01. Basis for Determining Interest Rate Inadequate or Unfair. If on or before the first day of any Interest Period
for any Euro-Dollar Loans or Competitive Bid LIBOR Loan: 
 (a) the Administrative Agent is advised by the
Euro-Dollar Reference Banks that deposits in dollars in the applicable amounts are not being offered to the Euro-Dollar Reference Banks in the relevant market for such Interest Period, or 

 

 53 

 (b) in the case of Euro-Dollar Loans, Banks having at least 50% in aggregate
amount of the Commitments advise the Administrative Agent that the London Interbank Offered Rate, as determined by the Administrative Agent will not adequately and fairly reflect the cost to such Banks of funding their Euro-Dollar Loans for such
Interest Period, 
 the Administrative Agent shall forthwith give notice thereof to the Borrowers and the Banks, whereupon until the
Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, (i) the obligations of the Banks to make Euro-Dollar Loans or to continue or convert outstanding Loans as or into Euro-Dollar
Loans shall be suspended and (ii) each outstanding Euro-Dollar Loan shall be converted into a Base Rate Loan on the last day of the then current Interest Period applicable thereto. Unless the Borrower notifies the Administrative Agent at least
two Domestic Business Days before the date of any affected Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, (i) if such affected Borrowing is a Euro-Dollar Borrowing, such Borrowing
shall instead be made as a Base Rate Borrowing and (ii) if such affected Borrowing is a Competitive Bid LIBOR Borrowing, the Competitive Bid LIBOR Loans comprising such Borrowing shall bear interest for each day from and including the first day
to but excluding the last day of the Interest Period applicable thereto at the Base Rate for such day. 
 Section 8.02.
Illegality. If, on or after the date hereof, the adoption of any applicable law, rule or regulation, or any change in any applicable law, rule or regulation, or any change in the interpretation or administration thereof by any governmental
authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Bank (or its Euro-Dollar Lending Office) with any request or directive (whether or not having the force of law) of any such
authority, central bank or comparable agency, shall make it unlawful or impossible for any Bank (or its Euro-Dollar Lending Office) to make, maintain or fund its Euro-Dollar Loans to a Borrower and such Bank shall so notify the Administrative Agent,
the Administrative Agent shall forthwith give notice thereof to the other Banks and such Borrower, whereupon until such Bank notifies such Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist,
the obligation of such Bank to make Euro-Dollar Loans, or to convert outstanding Loans into Euro-Dollar Loans or continue outstanding Loans as Euro-Dollar Loans, in each case to such Borrower shall be suspended. Before giving any notice to the
Administrative Agent pursuant to this Section, such Bank shall designate a different Euro-Dollar Lending Office if such designation will avoid the need for giving such notice and 

 

 54 

 
will not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. If such notice is given, each Euro-Dollar Loan of such Bank then outstanding to such Borrower shall be converted
to a Base Rate Loan either (a) on the last day of the then current Interest Period applicable to such Euro-Dollar Loan if such Bank may lawfully continue to maintain and fund such Loan as a Euro-Dollar Loan to such day or (b) immediately if such
Bank shall determine that it may not lawfully continue to maintain and fund such Loan as a Euro-Dollar Loan to such day. Interest and principal on any such Base Rate Loan shall be payable on the same dates as, and on a pro rata basis with, the
interest and principal payable on the related Euro-Dollar Loans of the other Banks. 
 Section 8.03. Increased Cost and
Reduced Return. (a) If on or after (x) the date hereof, in the case of any Committed Loan or Letter of Credit or any obligation to make Committed Loans or issue or participate in any Letters of Credit or (y) the date of the
related Competitive Bid Quote, in the case of any Competitive Bid Loan, the adoption of any applicable law, rule or regulation, or any change in any applicable law, rule or regulation, or any change in the interpretation or administration thereof by
any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or not having the force of
law) of any such authority, central bank or comparable agency, shall impose, modify or deem applicable any reserve (including, without limitation, any such requirement imposed by the Board of Governors of the Federal Reserve System, but excluding
with respect to any Euro-Dollar Loan any such requirement with respect to which such Bank is entitled to compensation during the relevant Interest Period under Section 2.15), special deposit, insurance assessment or similar requirement against
assets of, deposits with or for the account of, or credit (including letters of credit and participations therein) extended by, any Bank (or its Applicable Lending Office) or shall impose on any Bank (or its Applicable Lending Office) or on the
United States market for certificates of deposit or the London interbank market any other condition affecting its Fixed Rate Loans or other Letters of Credit, its Notes or its obligation to make Fixed Rate Loans or its obligations hereunder in
respect of Letters of Credit and the result of any of the foregoing is to increase the cost to such Bank (or its Applicable Lending Office) of making or maintaining any Fixed Rate Loan or of issuing or participating in any Letter of Credit, or to
reduce the amount of any sum received or receivable by such Bank (or its Applicable Lending Office) or such Issuing Bank under this Agreement or under its Notes with respect thereto, by an amount deemed by such Bank or Issuing Bank to be material,
then, within 15 days after demand by such Bank or Issuing Bank (with a copy to the Administrative Agent), each Borrower shall pay to such Bank or Issuing Bank its Appropriate Share of such additional amount or amounts as will compensate such Bank or
Issuing Bank for such increased cost or reduction. 
 (b) If any Bank shall have determined that, after the date hereof, the
adoption of any applicable law, rule or regulation regarding capital adequacy, or 
  

 55 

 
any change in any such law, rule or regulation, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the
interpretation or administration thereof, or any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of
return on capital of such Bank (or its Parent) as a consequence of such Bank’s obligations hereunder to a level below that which such Bank (or its Parent) could have achieved but for such adoption, change, request or directive (taking into
consideration its policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, within 15 days after demand by such Bank (with a copy to the Administrative Agent), each Borrower shall pay to such
Bank its Appropriate Share of such additional amount or amounts as will compensate such Bank (or its Parent) for such reduction. 

(c) Each Bank will promptly notify the Borrowers and the Administrative Agent of any event of which it has knowledge, occurring after the
date hereof, which will entitle such Bank to compensation pursuant to this Section and will designate a different Applicable Lending Office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the
judgment of such Bank, be otherwise disadvantageous to it. A certificate of any Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of
manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods. 
 (d) The
“Appropriate Share” of a Borrower with respect to any amount payable hereunder is the sum of (i) to the extent such amount is properly allocable to Loans and Letter of Credit outstanding hereunder, the portion of such amount
properly allocable to the Loans and Letter of Credit outstanding to such Borrower, and (ii) to the extent such amount is not properly allocable to Loans and Letters of Credit outstanding hereunder, the Appropriate Share shall be the
Availability Share of such Borrower. 
 Section 8.04. Taxes. (a) For the purposes of this Section, the
following terms have the following meanings: 
 “Taxes” means any and all present or future taxes, duties,
levies, imposts, deductions, charges or withholdings with respect to any payment by a Borrower pursuant to this Agreement or under any Note, and all liabilities with respect thereto, excluding (i) in the case of each Bank and the
Administrative Agent, taxes imposed on its net income, and franchise or similar taxes imposed on it, by a jurisdiction under the laws of which it is organized or in which its principal executive office is located or, in the case of a Bank, in which
its Applicable Lending Office is located and (ii) in the case of each Bank, any United States withholding tax imposed on such payment, but not excluding any portion of such 

 

 56 

 
tax that exceeds the United States withholding tax which would have been imposed on such a payment to such Bank under the laws and treaties in effect when such Bank first becomes a party to this
Agreement. 
 “Other Taxes” means any present or future stamp or documentary taxes and any other excise or
property taxes, or similar charges or levies, which arise from any payment made pursuant to this Agreement or under any Note or from the execution, delivery, registration or enforcement of, or otherwise with respect to, this Agreement or any Note.

 (b) All payments by a Borrower to or for the account of any Bank or the Administrative Agent hereunder or under any Note
shall be made without deduction for any Taxes; provided that, if a Borrower shall be required by law to deduct any Taxes from any such payment, (i) the sum payable shall be increased as necessary so that after making all required
deductions (including deductions applicable to additional sums payable under this Section) such Bank or the Administrative Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made,
(ii) such Borrower shall make such deductions, (iii) such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable law and (iv) such Borrower shall promptly
furnish to the Administrative Agent, at its address specified in or pursuant to Section 9.01, the original or a certified copy of a receipt evidencing payment thereof. 

(c) In addition, each Borrower agrees to pay its Appropriate Share of any Other Taxes. 

(d) Each Borrower agrees to indemnify each Bank and the Administrative Agent for its Appropriate Share of the full amount of Taxes and
Other Taxes (including, without limitation, any Taxes or Other Taxes imposed or asserted (whether or not correctly) by any jurisdiction on amounts payable under this Section) paid by such Bank, including any Issuing Bank, or the Administrative Agent
(as the case may be) and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto. This indemnification shall be paid within 15 days after such Bank, including any Issuing Bank, or the Administrative Agent
(as the case may be) makes demand therefor. 
 (e) Each Bank organized under the laws of a jurisdiction outside the United
States, before it signs and delivers this Agreement in the case of each Bank listed on the signature pages hereof and before it becomes a Bank in the case of each other Bank, and from time to time thereafter if requested in writing by a Borrower
(but only so long as such Bank remains lawfully able to do so), shall provide each of such Borrower and the Administrative Agent with Internal Revenue Service Form W-8BEN or W-8ECI, as appropriate, or any successor form prescribed by the Internal
Revenue Service, certifying that such Bank is 
  

 57 

 
entitled to benefits under an income tax treaty to which the United States is a party which exempts such Bank from United States withholding tax or reduces the rate of withholding tax on payments
of interest for the account of such Bank or certifying that the income receivable by it pursuant to this Agreement is effectively connected with the conduct of a trade or business in the United States. 

(f) For any period with respect to which a Bank has failed to provide a Borrower or the Administrative Agent with the appropriate form
referred to in Section 8.04(e) (unless such failure is due to a change in treaty, law or regulation occurring after the date on which such form originally was required to be provided), such Bank shall not be entitled to indemnification under
Section 8.04(b) or 8.04(c) with respect to Taxes imposed by the United States; provided that if a Bank, that is otherwise exempt from or subject to a reduced rate of withholding tax, becomes subject to Taxes because of its failure to
deliver a form required hereunder, such Borrower shall take such steps as such Bank shall reasonably request to assist such Bank to recover such Taxes. 

(g) If a Borrower is required to pay additional amounts to or for the account of any Bank pursuant to this Section as a result of a
change in law or treaty occurring after such Bank first became a party to this Agreement, then such Bank will, at such Borrower’s request, change the jurisdiction of its Applicable Lending Office if, in the judgment of such Bank, such change
will eliminate or reduce any such additional payment which may thereafter accrue and is not otherwise disadvantageous to such Bank. 

Section 8.05. Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (i) the obligation of any Bank to make, or
to continue or convert outstanding Loans as or to, Euro-Dollar Loans to a Borrower has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation from a Borrower under Section 8.03 or 8.04 with respect to its
Euro-Dollar Loans to such Borrower, and in any such case such Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply
to such Bank, then, unless and until such Bank notifies such Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans to such Borrower which would otherwise be made by such Bank as (or
continued as or converted to) Euro-Dollar Loans shall instead be Base Rate Loans on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Banks. If such Bank notifies such Borrower that the
circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable
to the related Euro-Dollar Loans of the other Banks. 
 Section 8.06. Substitution of Bank. If (i) the
obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any 
  

 58 

 
Bank has demanded compensation under Section 8.03 or 8.04, the Borrowers shall have the right, with the assistance of the Administrative Agent, to seek a mutually satisfactory substitute
bank or banks (which may be one or more of the Banks) to purchase the Loans and assume the Commitment of such Bank. 

ARTICLE 9 

MISCELLANEOUS 

Section 9.01. Notices. All notices, requests and other communications to any party hereunder shall be in writing (including
bank wire, telex, facsimile or similar writing) and shall be given to such party: (a) in the case of a Borrower or the Administrative Agent, at its address, facsimile number or telex number set forth on the signature pages hereof, (b) in
the case of any Bank, at its address, facsimile number or telex number set forth in its Administrative Questionnaire or in the case of any party, at such other address, facsimile number or telex number as such party may hereafter specify for the
purpose by notice to the Administrative Agent and the Borrowers. Each such notice, request or other communication shall be effective (i) if given by telex, when transmitted to the telex number referred to in this Section and the appropriate
answerback is received, (ii) if given by facsimile, when transmitted to the facsimile number referred to in this Section and confirmation of receipt is received, (iii) if given by mail, 72 hours after such communication is deposited in the
mails with first class postage prepaid, addressed as aforesaid or (iv) if given by any other means, when delivered at the address referred to in this Section; provided that notices to the Administrative Agent under Article 2 or Article 8
shall not be effective until received. 
 Section 9.02. No Waivers. No failure or delay by the Administrative Agent
or any Bank in exercising any right, power or privilege hereunder or under any Note or Letter of Credit shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise
of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law. 

Section 9.03. Expenses; Indemnification. (a) Each Borrower shall pay its Appropriate Share of (i) all out-of-pocket
expenses of the Administrative Agent, including fees and disbursements of special counsel for the Administrative Agent, in connection with the preparation and administration of this Agreement, any waiver or consent hereunder or any amendment hereof
or any Default or alleged Default hereunder with respect to a Borrower and (ii) if an Event of Default occurs with respect to a Borrower, all out-of-pocket expenses incurred by the Administrative Agent and each Bank (including any Issuing
Bank), including (without duplication) the fees and disbursements of outside counsel and the allocated cost of inside counsel, in connection with such Event of Default and collection, bankruptcy, insolvency and other enforcement proceedings
resulting therefrom. 
  

 59 

 (b) Each Borrower agrees to indemnify the Administrative Agent and each Bank (including any
Issuing Bank), their respective affiliates and the respective directors, officers, agents and employees of the foregoing (each an “Indemnitee”) and hold each Indemnitee harmless from and against any and all liabilities, losses,
damages, costs and expenses of any kind, including, without limitation, the reasonable fees and disbursements of counsel, which may be incurred by such Indemnitee in connection with any investigative, administrative or judicial proceeding (whether
or not such Indemnitee shall be designated a party thereto) brought or threatened relating to or arising out of this Agreement or any Letter of Credit or any actual or proposed use of proceeds of Loans or Letters of Credit hereunder in each case to
the extent of such Borrower’s Appropriate Share; provided that no Indemnitee shall have the right to be indemnified hereunder for such Indemnitee’s own gross negligence or willful misconduct as determined by a court of competent
jurisdiction. 
 (c) This Section 9.03 shall survive any termination of this Agreement, the termination or assignment of
the Commitments and the repayment of all outstanding Loans. 
 Section 9.04. Set-offs. Each Bank agrees that if it
shall, by exercising any right of set-off or counterclaim or otherwise, receive payment of a proportion of the aggregate amount of principal and interest then due with respect to the Loans and Letter of Credit Liabilities held by it which is greater
than the proportion received by any other Bank in respect of the aggregate amount of principal and interest then due with respect to the Loans and Letter of Credit Liabilities held by such other Bank, the Bank receiving such proportionately greater
payment shall purchase such participations in the Loans and Letter of Credit Liabilities held by the other Banks, and such other adjustments shall be made, as may be required so that all such payments of principal and interest with respect to the
Loans and Letter of Credit Liabilities held by the Banks shall be shared by the Banks pro rata; provided that nothing in this Section shall impair the right of any Bank to exercise any right of set-off or counterclaim it may have and to apply
the amount subject to such exercise to the payment of indebtedness of the Borrower other than its indebtedness in respect of the Loans and Letter of Credit Liabilities. Each Borrower agrees, to the fullest extent it may effectively do so under
applicable law, that any holder of a participation in a Loan or Letter of Credit Liability, whether or not acquired pursuant to the foregoing arrangements, may exercise rights of set-off or counterclaim and other rights with respect to such
participation as fully as if such holder of a participation were a direct creditor of such Borrower in the amount of such participation. 

Section 9.05. Amendments and Waivers. Any provision of this Agreement or the Notes may be amended or waived if, but only if,
such 
  

 60 

 
amendment or waiver is in writing and is signed by the Borrowers and the Required Banks (and, if the rights or duties of any Issuing Bank or the Administrative Agent are affected thereby, by the
Administrative Agent); provided that no such amendment or waiver shall: 
 (a) unless signed by each
affected Bank, (i) increase or decrease the Commitment of any Bank (except for a ratable decrease in the Commitments of all the Banks) or subject any Bank to any additional obligation, (ii) reduce the principal of or rate of interest on
any Loan or the amount to be reimbursed in respect of any Letter of Credit or any interest thereon or any fees hereunder, (iii) postpone the date fixed for any payment of principal of or interest on any Loan or for reimbursement in respect of
any Letter of Credit or any fees hereunder or for the termination of any Commitment or (except as expressly provided in Section 2.17) the expiry date of any Letter of Credit or (iv) alter the pro rata treatment of the Banks as provided
herein in a manner adverse to any Bank; 
 (b) unless signed by all Banks, change the percentage of the
Commitments or of the aggregate unpaid principal amount of the Loans, or the number of Banks, which shall be required for the Banks or any of them to take any action under this Section or any other provision of this Agreement; or 

(c) unless signed by a Designated Lender or its Designating Bank, subject such Designated Lender to any additional
obligation or affect its rights hereunder (unless the rights of all the Banks hereunder are similarly affected). 
 It is understood that the
operation of Section 2.17 in accordance with its terms is not an amendment subject to this Section 9.05. 

Section 9.06. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns permitted hereby, except that none of the Borrowers may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Bank
(and any attempted assignment or transfer by any Borrower without such consent shall be null and void). 
 (b) Any Bank may
assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans and/or Letter of Credit Liabilities at the time owing to it); provided
that (i) except in the case of an assignment of the entire remaining amount of the assigning Bank’s Commitment and the Loans and/or Letter of Credit Liabilities at the time owing to it or in the case of an assignment to a Bank or an
affiliate of a Bank or an Approved Fund with respect 
  

 61 

 
to a Bank, the aggregate amount of the Commitment (which for this purpose includes Loans and/or Letter of Credit Liabilities outstanding thereunder) subject to each such assignment (determined as
of the date the Assignment and Assumption Agreement, as hereinafter defined, with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000, unless each of the Administrative Agent, the Issuing Bank and,
so long as no Event of Default with respect to such Borrower has occurred and is continuing, each Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed), (ii) each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Bank’s rights and obligations under this Agreement with respect to the Loan and/or Letter of Credit Liability or the Commitment assigned, except that this clause (ii) shall not apply
to rights in respect of outstanding Competitive Bid Loans and (iii) the parties to each assignment shall execute and deliver to the Administrative Agent an agreement, substantially in the form of Exhibit I hereto (an “Assignment and
Assumption Agreement”), together with a processing and recordation fee of $3,500, and the Eligible Assignee, if it shall not be a Bank, shall deliver to the Administrative Agent an Administrative Questionnaire. Subject to acceptance and
recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption Agreement, the Eligible Assignee thereunder shall be a party hereto and, to
the extent of the interest assigned by such Assignment and Assumption Agreement, have the rights and obligations of a Bank under this Agreement, and the assigning Bank thereunder shall, to the extent of the interest assigned by such Assignment and
Assumption Agreement, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption Agreement covering all of the assigning Bank’s rights and obligations under this Agreement, such Bank shall cease to
be a party hereto but shall continue to be entitled to the benefits of Sections 8.03, 8.04 and 9.03). Any assignment or transfer by a Bank of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for
purposes of this Agreement as a sale by such Bank of a participation in such rights and obligations in accordance with paragraph (d) of this Section. 

(c) The Administrative Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at one of its offices in the
State of Delaware or New York a copy of each Assignment and Assumption Agreement delivered to it and a register for the recordation of the names and addresses of the Banks, and the Commitments of, and principal amount of the Loans owing to, each
Bank pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrowers, the Administrative Agent and the Banks may treat each Person whose name is recorded in the
Register pursuant to the terms hereof as a Bank hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers and any Bank, at any reasonable time and from time
to time upon reasonable prior notice. 
  

 62 

 (d) Any Bank may, without the consent of, or notice to, the Borrower or the Administrative
Agent, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Bank’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the
Loans owing to it); provided that (i) such Bank’s obligations under this Agreement shall remain unchanged, (ii) such Bank shall remain solely responsible to the other parties hereto for the performance of such obligations and
(iii) the Borrower, the Administrative Agent and the other Banks shall continue to deal solely and directly with such Bank in connection with such Bank’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Bank sells such a participation shall provide that such Bank shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement
or instrument may provide that such Bank will not, without the consent of the Participant, agree to any amendment, modification or waiver described in clause (i), (ii) or (iii) of Section 9.05(a) that affects such Participant. Subject
to paragraph (e) of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.12 and 2.15 and Article 8 to the same extent as if it were a Bank and had acquired its interest by assignment pursuant
to paragraph (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.04 as though it were a Bank, provided such Participant agrees to be subject to Section 9.04 as
though it were a Bank. 
 (e) A Participant shall not be entitled to receive any greater payment under Section 8.03 or 8.04
than the applicable Bank would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrowers’ prior written consent. A Participant
organized under the laws of a jurisdiction outside the United States shall not be entitled to the benefits of Section 8.04 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the
benefit of such Borrower, to comply with Section 8.04(e) as though it were a Bank. 
 (f) Any Bank 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 Bank, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no
such pledge or assignment of a security interest shall release a Bank from any of its obligations hereunder or substitute any such pledgee or assignee for such Bank as a party hereto. 

Section 9.07. Designated Lenders. (a) Subject to the provisions of this subsection (a), any Bank may at any time
designate an Eligible Designee to 
  

 63 

 
provide all or a portion of the Loans to be made by such Bank pursuant to this Agreement; provided that such designation shall not be effective unless each Borrower and the Administrative Agent
consent thereto (which consents shall not be unreasonably withheld). When a Bank and its Eligible Designee shall have signed an agreement substantially in the form of Exhibit J hereto (a “Designation Agreement”) and each Borrower
and the Administrative Agent shall have signed their respective consents thereto, such Eligible Designee shall become a Designated Lender for purposes of this Agreement. The Designating Bank shall thereafter have the right to permit such Designated
Lender to provide all or a portion of the Loans to be made by such Designating Bank pursuant to Section 2.01 or 2.03, and the making of such Loans or portion thereof shall satisfy the obligation of the Designating Bank to the same extent, and
as if, such Loans or portion thereof were made by the Designating Bank. As to any Loans or portion thereof made by it, each Designated Lender shall have all the rights that a Bank making such Loans or portion thereof would have had under this
Agreement and otherwise; provided that (x) its voting rights under this Agreement shall be exercised solely by its Designating Bank and (y) its Designating Bank shall remain solely responsible to the other parties hereto for the
performance of such Designated Lender’s obligations under this Agreement, including its obligations in respect of the Loans or portion thereof made by it. No additional Note shall be required to evidence the Loans or portion thereof made by a
Designated Lender; and the Designating Bank shall be deemed to hold its Note as agent for its Designated Lender to the extent of the Loans or portion thereof funded by such Designated Lender. Each Designating Bank shall act as administrative agent
for its Designated Lender and give and receive notices and other communications on its behalf. Any payments for the account of any Designated Lender shall be paid to its Designating Bank as administrative agent for such Designated Lender and neither
the Borrower nor the Administrative Agent shall be responsible for any Designating Bank’s application of such payments. In addition, any Designated Lender may, with notice to (but without the prior written consent of) each Borrower and the
Administrative Agent, (i) assign all or portions of its interest in any Loans to its Designating Bank or to any financial institutions consented to by each Borrower and the Administrative Agent that provide liquidity and/or credit facilities to
or for the account of such Designated Lender to support the funding of Loans or portions thereof made by it and (ii) disclose on a confidential basis any non-public information relating to its Loans or portions thereof to any rating agency,
commercial paper dealer or provider of any guarantee, surety, credit or liquidity enhancement to such Designated Lender. 
 (b)
Each party to this Agreement agrees that it will not institute against, or join any other person in instituting against, any Designated Lender any bankruptcy, insolvency, reorganization or other similar proceeding under any federal or state
bankruptcy or similar law, for one year and a day after all outstanding senior indebtedness of such Designated Lender is paid in full. The Designating Bank for each Designated Lender agrees to indemnify, save, and hold

  

 64 

 
harmless each other party hereto for any loss, cost, damage and expense arising out of its inability to institute any such proceeding against such Designated Lender. This subsection
(b) shall survive the termination of this Agreement. 
 Section 9.08. No Reliance on Margin Stock. Each of the
Banks represents to each Agent and each of the other Banks that it in good faith is not relying upon any “margin stock” (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this
Agreement. 
 Section 9.09. Confidentiality. (a) The Administrative Agent and each Bank agrees to keep any
information delivered or made available by the Borrowers pursuant to this Agreement confidential from anyone other than persons employed or retained by such Bank who are engaged in evaluating, approving, structuring or administering the credit
facility contemplated hereby; provided that nothing herein shall prevent any Bank from disclosing such information (a) to any other Bank or to the Administrative Agent, (b) to any other Person if reasonably incidental to the
administration of the credit facility contemplated hereby, (c) upon the order of any court or administrative agency, (d) upon the request or demand of any regulatory agency or authority, (e) which had been publicly disclosed other
than as a result of a disclosure by the Administrative Agent or any Bank prohibited by this Agreement, (f) in connection with any litigation to which the Administrative Agent, any Bank or its subsidiaries or Parent may be a party, (g) to
the extent necessary in connection with the exercise of any remedy hereunder, (h) to such Bank’s or Administrative Agent’s legal counsel and independent auditors and (i) subject to provisions substantially similar to those
contained in this Section, to any actual or proposed Participant, Eligible Assignee or Eligible Designee. 
 (b) Notwithstanding
anything herein to the contrary, any party hereto (and any employee, representative or other agent of thereof) may disclose to any and all Persons, without limitation of any kind, the U.S. federal income tax treatment and the U.S. federal income tax
structure of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax structure. However, no disclosure of any information relating
to such tax treatment or tax structure may be made to the extent nondisclosure is reasonably necessary in order to comply with applicable securities laws. 

Section 9.10. Governing Law; Submission to Jurisdiction. This Agreement and each Note shall be governed by and construed in
accordance with the laws of the State of New York. Each Borrower hereby submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State court sitting in New York City for
purposes of all legal proceedings arising out of or relating to this Agreement or the transactions contemplated hereby. Each Borrower irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter

  

 65 

 
have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum.

 Section 9.11. Counterparts; Integration. This Agreement may be signed in any number of counterparts, each of
which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement constitutes the entire agreement and understanding among the parties hereto and supersedes any and all prior
agreements and understandings, oral or written, relating to the subject matter hereof. 
 Section 9.12. WAIVER
OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 9.13. USA PATRIOT Act Notice. Each Bank that is subject to the USA PATRIOT Act and the Administrative Agent (for
itself and not on behalf of any Bank) hereby notifies each Borrower that, pursuant to the requirements of the USA PATRIOT Act, it may be required to obtain, verify and record information that identifies such Borrower, which information includes the
name and address of such Borrower and other information that will allow such Bank or the Administrative Agent, as applicable, to identify such Borrower in accordance with the USA PATRIOT Act. 

 

 66 

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

					
	 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.

		
	By:	 	   /s/ Joseph P. Oates

		 	Name:	 	Joseph P. Oates
		 	Title:	 	Vice President and Treasurer
		 	Address:	 	 4 Irving Place
 New York, New
York 10003

		 	Facsimile:	 	(212) 228-6720
	
	CONSOLIDATED EDISON, INC.
		
	By:	 	   /s/ Joseh P. Oates

		 	Name:	 	Joseph P. Oates
		 	Title:	 	Vice President and Treasurer
		 	Address:	 	 4 Irving Place
 New York, New
York 10003

		 	Facsimile:	 	(212) 228-6720
	
	ORANGE AND ROCKLAND UTILITIES, INC.
		
	By:	 	   /s/ John E. Perkins

		 	Name:	 	John E. Perkins
		 	Title:	 	Treasurer
		 	Address:	 	 4 Irving Place
 New York, New
York 10003

		 	Facsimile:	 	(212) 228-6720

					
	 JPMORGAN CHASE BANK, N.A.,
as Administrative Agent

		
	By:	 	   /s/ Thomas Casey

		 	Name:	 	Thomas Casey
		 	Title:	 	Vice President
		 	Address:	 	 270 Park Ave. - 4th Floor
 New
York, NY 10017

		 	Facsimile:	 	(212) 270-3089

					
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	   /s/ Thomas L. Casey

		 	Name:	 	Thomas L. Casey
		 	Title:	 	Vice President

					
	CITIBANK, N.A.
		
	By:	 	   /s/ Oscar Cragwell

		 	Name:	 	Oscar Cragwell
		 	Title:	 	Vice President

					
	WACHOVIA BANK, N.A.
		
	By:	 	   /s/ Shawn Young

		 	Name:	 	Shawn Young
		 	Title:	 	Vice President

					
	THE BANK OF NEW YORK
		
	By:	 	   /s/ John Watt

		 	Name:	 	John Watt
		 	Title:	 	Vice President

					
	KEYBANK NATIONAL ASSOCIATION
		
	By:	 	   /s/ Sherrie I. Manson

		 	Name:	 	Sherrie I. Manson
		 	Title:	 	Senior Vice President

					
	HSBC BANK USA, NATIONAL ASSOCIATION
		
	By:	 	   /s/ Richard Ward

		 	Name:	 	Richard Ward
		 	Title:	 	First Vice President

					
	LEHMAN BROTHERS BANK, FSB
		
	By:	 	   /s/ Gary T. Taylor

		 	Name:	 	Gary T. Taylor
		 	Title:	 	Senior Vice President

					
	MORGAN STANLEY BANK
		
	By:	 	   /s/ Daniel Twenge

		 	Name:	 	Daniel Twenge
		 	Title:	 	Vice President

					
	MERRILL LYNCH BANK USA
		
	By:	 	   /s/ Louis Adler

		 	Name:	 	Louis Adler
		 	Title:	 	Director

					
	BANK OF TOKYO-MITSUBISHI UFJ, LTD. NEW YORK BRANCH
		
	By:	 	   /s/ James A. Profesta

		 	Name:	 	James A. Profesta
		 	Title:	 	Authorized Signatory

					
	BARCLAYS BANK PLC
		
	By:	 	   /s/ Nicholas Bell

		 	Name:	 	Nicholas Bell
		 	Title:	 	Director

					
	UBS LOAN FINANCE LLC
		
	By:	 	   /s/ Richard L. Tavrow

		 	Name:	 	Richard L. Tavrow
		 	Title:	 	Director
		
	By:	 	   /s/ Inja R. Otsa

		 	Name:	 	Inja R. Otsa
		 	Title:	 	Associate Director

					
	THE ROYAL BANK OF SCOTLAND PLC
		
	By:	 	   /s/ Emily Freedman

		 	Name:	 	Emily Freedman
		 	Title:	 	Vice President

					
	MELLON BANK, N.A.
		
	By:	 	   /s/ Thomas J. Tarasovich, Jr.

		 	Name:	 	Thomas J. Tarasovich, Jr.
		 	Title:	 	Assistant Vice President

					
	MIZUHO CORPORATE BANK, LTD.
		
	By:	 	   /s/ Raymond Ventura

		 	Name:	 	Raymond Ventura
		 	Title:	 	Deputy General Manager

					
	KBC BANK N.V.
		
	By:	 	   /s/ Jean-Pierre Diels

		 	Name:	 	Jean-Pierre Diels
		 	Title:	 	First Vice President
		
	By:	 	   /s/ Eric Raskin

		 	Name:	 	Eric Raskin
		 	Title:	 	Vice President

					
	STATE STREET BANK AND TRUST COMPANY
		
	By:	 	   /s/ Mary H. Carey

		 	Name:	 	M. H. Carey
		 	Title:	 	Vice President

					
	COMMERCE BANK
		
	By:	 	   /s/ Daniel Csillag

		 	Name:	 	Daniel Csillag
		 	Title:	 	Vice President

					
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	   /s/ Megan Donnelly

		 	Name:	 	Megan Donnelly
		 	Title: 	 	Vice President

 COMMITMENT SCHEDULE 

 

						
	 Bank
	  	 Title
	  	Commitment
			
	 JPMorgan Chase Bank, N.A.
	  	 Administrative Agent
	  	$	220,000,000
			
	 Citibank, N.A.
	  	 Syndication Agent
	  	$	220,000,000
			
	 The Bank of New York
	  	 Co-Documentation Agent
	  	$	160,000,000
			
	 Wachovia Bank, N.A.
	  	 Co-Documentation Agent
	  	$	160,000,000
			
	 KeyBank National Association
	  	 Co-Documentation Agent
	  	$	160,000,000
			
	 HSBC Bank USA, National Association
	  	 Participant
	  	$	125,000,000
			
	 Lehman Brothers Bank, FSB
	  	 Participant
	  	$	125,000,000
			
	 Morgan Stanley Bank
	  	 Participant
	  	$	125,000,000
			
	 Merrill Lynch Bank USA
	  	 Participant
	  	$	125,000,000
			
	 Bank of Tokyo-Mitsubishi UFJ,

Ltd. New York Branch
	  	 Participant
	  	$	125,000,000
			
	 Barclays Bank PLC
	  	 Participant
	  	$	125,000,000
			
	 UBS Loan Finance LLC
	  	 Participant
	  	$	125,000,000
			
	 The Royal Bank of Scotland PLC
	  	 Participant
	  	$	125,000,000
			
	 Mellon Bank, N.A.
	  	 Participant
	  	$	75,000,000
			
	 Mizuho Corporate Bank, Ltd.
	  	 Participant
	  	$	75,000,000
			
	 KBC Bank N.V.*
	  	 Participant
	  	$	45,000,000
			
	 State Street Bank and Trust Company
	  	 Participant
	  	$	45,000,000
			
	 Commerce Bank
	  	 Participant
	  	$	45,000,000
			
	 Wells Fargo Bank, National Association
	  	 Participant
	  	$	45,000,000
			
	 Total
	  		  	$	2,250,000,000

  

	*	Termination Date June 22, 2011. 

 CONSOLIDATED EDISON, INC. 

CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 

ORANGE AND ROCKLAND UTILITIES, INC. 

PRICING SCHEDULE 

Each of “Facility Fee Rate” and “Euro-Dollar Margin” for any Borrower means, for any day, the rate per
annum set forth below in the row opposite such term and in the column corresponding to the Pricing Level for such Borrower and Usage that apply on such day: 
  

																			
	 Pricing Level
	  	Level I	 	 	Level II	 	 	Level III	 	 	Level IV	 	 	Level V	 	 	Level VI	 
	 Facility Fee Rate
	  	0.040	% 	 	0.050	% 	 	0.060	% 	 	0.070	% 	 	0.090	% 	 	0.100	% 
							
	 Euro-Dollar Margin
	  			 			 			 			 			 		
							
	 Usage £ 50%
	  	0.110	% 	 	0.150	% 	 	0.190	% 	 	0.230	% 	 	0.260	% 	 	0.350	% 
							
	 Usage > 50%
	  	0.160	% 	 	0.200	% 	 	0.240	% 	 	0.280	% 	 	0.310	% 	 	0.400	% 

 For purposes
of this Schedule, the following terms have the following meanings, subject to the concluding paragraph of this Schedule: 

“Level I Pricing” applies on any day on which the Borrower’s long-term debt is rated AA- or higher by S&P or
Aa3 or higher by Moody’s. 
 “Level II Pricing” applies on any day on which (i) the Borrower’s
long-term debt is rated A+ or higher by S&P or A1 or higher by Moody’s and (ii) Level I Pricing does not apply. 

“Level III Pricing” applies on any day on which (i) the Borrower’s long-term debt is rated A or higher by
S&P or A2 or higher by Moody’s and (ii) neither Level I Pricing nor Level II Pricing applies. 
 “Level IV
Pricing” applies on any day on which (i) the Borrower’s long-term debt is rated A- or higher by S&P or A3 or higher by Moody’s and (ii) none of Level I Pricing, Level II Pricing and Level III Pricing applies.

 “Level V Pricing” applies on any day on which (i) the Borrower’s long-term debt is rated BBB+ or
higher by S&P or Baa1 or higher by Moody’s and (ii) none of Level I Pricing, Level II Pricing, Level III Pricing and Level IV Pricing applies. 

“Level VI Pricing” applies on any day if no other Pricing Level applies on such day. 

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

 “Pricing Level” refers to the determination of which of Level I, Level II,
Level III, Level IV, Level V or Level VI Pricing applies on any day. 
 “S&P” means Standard &
Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. 
 The “Usage” applicable to any
date is the percentage equivalent of a fraction (i) the numerator of which is the Total Outstanding Amount at such date (after giving effect to any borrowing or payment on such date) and (ii) the denominator of which is the aggregate
amount of the Commitments at such date (after giving effect to any reduction on such date). If for any reason any Loans (or Letter of Credit Liabilities) remain outstanding following the termination of the Commitments, Usage will be deemed to be
100%. 
 The credit ratings to be utilized for purposes of this Schedule are those assigned to the senior unsecured long-term
debt securities of the relevant Borrower without third-party credit enhancement, and any rating assigned to any other debt security of such Borrower shall be disregarded. The ratings in effect for any day are those in effect at the close of business
on such day. 
 In the case of split ratings from S&P and Moody’s, the rating to be used to determine the applicable
Pricing Level is the higher of the two (e.g., A+/A2 results in Level II Pricing); provided that if the split is more than one full rating category, the intermediate (or higher of the two intermediate ratings) will be used (e.g. A+/A3 results
in Level III Pricing and AA-/A3 results in Level II Pricing). 

 EXHIBIT A 

NOTE 
  

					
		 		  	New York, New York
		 		  	                     ,
20    

 For value received, [CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.]
[CONSOLIDATED EDISON, INC.] [ORANGE AND ROCKLAND UTILITIES, INC.], a New York corporation (the “Borrower”), promises to pay to the order of
                    (the “Bank”), for the account of its Applicable Lending Office, the unpaid principal amount of each Loan
made by the Bank to the Borrower pursuant to the Credit Agreement referred to below on the maturity date provided for in the Credit Agreement. The Borrower promises to pay interest on the unpaid principal amount of each such Loan on the dates and at
the rate or rates provided for in the Credit Agreement. All such payments of principal and interest shall be made in lawful money of the United States in Federal or other immediately available funds at the office of JPMorgan Chase Bank, N.A., 270
Park Avenue, New York, New York. 
 All Loans made by the Bank, the respective types thereof and all repayments of the principal
thereof shall be recorded by the Bank and, if the Bank so elects in connection with any transfer or enforcement hereof, appropriate notations to evidence the foregoing information with respect to each such Loan then outstanding may be endorsed by
the Bank on the schedule attached hereto, or on a continuation of such schedule attached to and made a part hereof; provided that the failure of the Bank to make (or any error in making) any such recordation or endorsement shall not affect
the Borrower’s obligations hereunder or under the Credit Agreement. 
 This note is one of the Notes referred to in the
Amended and Restated Credit Agreement dated as of June 22, 2006 among Consolidated Edison Company of New York, Inc., Consolidated Edison, Inc., Orange and Rockland Utilities, Inc. the Banks party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent (as the same may be amended from time to time, the “Credit Agreement”). Terms defined in the Credit Agreement are used herein with the same meanings. Reference is made to the Credit Agreement for provisions for
the prepayment hereof and the acceleration of the maturity hereof. 
  

 A-1 

			
	 [CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.]

[CONSOLIDATED EDISON, INC.]

[ORANGE AND ROCKLAND UTILITIES, INC.]

		
	By:	 	  

		 	Name:
		 	Title:

  

 A-2 

 LOANS AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	 	 Amount of Loan
	 	 Type of Loan
	  	Amount of Principal
Repaid	  	Notation Made By
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 
					
	 	 	 	 	 	  	 	  	 

  

 A-3 

 EXHIBIT B 

FORM OF COMPETITIVE BID QUOTE REQUEST 

[Date]
                     
  

	To:	JPMorgan Chase Bank, N.A. (the “Administrative Agent”) 

  

	From:	[Consolidated Edison Company of New York, Inc.] [Consolidated Edison, Inc.] [Orange and Rockland Utilities, Inc.] (the “Borrower”)

  

	Re:	Amended and Restated Credit Agreement (the “Credit Agreement”) dated as of June 22, 2006 among the Borrower, the Banks party thereto and the
Administrative Agent 

 We hereby give notice pursuant to Section 2.03 of the Credit Agreement that we
request Competitive Bid Quotes for the following proposed Competitive Bid Borrowing(s): 
 Date of Borrowing:
                     
  

			
	 Principal
Amount4
	  	
Interest Period5

	 $
	  	

 Such Competitive Bid Quotes should offer a Competitive Bid [Margin] [Absolute Rate]. [The
applicable base rate is the London Interbank Offered Rate.] 
  

	4
	 Amount must be $5,000,000 or a larger multiple of $1,000,000. 

	5
	 Not less than one month (LIBOR Auction) or not less than 7 days (Absolute Rate Auction), subject to the provisions of the definition of Interest
Period. 

  

 B-1 

 Terms used herein have the meanings assigned to them in the Credit Agreement. 

 

			
	 [CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.]

[CONSOLIDATED EDISON, INC.]

[ORANGE AND ROCKLAND UTILITIES, INC.]

		
	By:	 	  

		 	Name:
		 	Title:

  

 B-2 

 EXHIBIT C 

FORM OF INVITATION FOR COMPETITIVE BID QUOTES 
  

	To:	[Name of Bank] 

  

	Re:	Invitation for Competitive Bid Quotes to [CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.] [CONSOLIDATED EDISON, INC.] [ORANGE AND ROCKLAND UTILITIES, INC.] (the
“Borrower”) 

 Pursuant to Section 2.03 of the Amended and Restated Credit Agreement dated
as of June 22, 2006 among the Borrower, the Banks party thereto and the undersigned, as Administrative Agent, we are pleased on behalf of the Borrower to invite you to submit Competitive Bid Quotes to the Borrower for the following proposed
Competitive Bid Borrowing(s): 
 Date of Borrowing:
                     
  

			
	 Principal Amount
	  	 Interest Period

	 $
	  	

 Such Competitive Bid Quotes should offer a Competitive Bid [Margin] [Absolute Rate]. [The
applicable base rate is the London Interbank Offered Rate.] 
 Please respond to this invitation by no later than [2:00 P.M.]
[9:30 A.M.] (New York City time) on [date]. 
  

			
	 JPMORGAN CHASE BANK, N.A., as Administrative Agent

		
	By:	 	  

		 	Authorized Officer

  

 C-1 

 EXHIBIT D 

FORM OF COMPETITIVE BID QUOTE 
  

	To:	JPMorgan Chase Bank, N.A., as Administrative Agent 

  

	Re:	Competitive Bid Quote to [CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.] [CONSOLIDATED EDISON, INC.] [ORANGE AND ROCKLAND UTILITIES, INC.] (the
“Borrower”) 

 In response to your invitation on behalf of the Borrower dated
            ,         , we hereby make the following Competitive Bid Quote on the following terms: 

 

	1.	Quoting Bank:                      

 

	2.	Person to contact at Quoting Bank:                     

  

	3.	 Date of Borrowing:
                    
1 

 

	4.	We hereby offer to make Competitive Bid Loan(s) in the following principal amounts, for the following Interest Periods and at the following rates:

  

							
	 Principal Amount2
	  	 Interest
Period3
	  	 Competitive Bid
[Margin]4
	  	 [Absolute
Rate]5

	 $
	  		  		  	
	 $
	  		  		  	

 [provided, that the aggregate principal amount of Competitive Bid Loans
for which the above offers may be accepted shall not exceed
$                    
.]2 

 

	1
	 As specified in the related Invitation. 

	2
	 Principal amount bid for each Interest Period may not exceed principal amount requested. Specify aggregate limitation if the sum of the individual
offers exceeds the amount the Bank is willing to lend. Each bid must be made for $5,000,000 or a larger multiple of $1,000,000. 

	3
	 Not less than one month or not less than 7 days, as specified in the related Invitation. No more than five bids are permitted for each Interest Period.

	4
	 Margin over or under the London Interbank Offered Rate determined for the applicable Interest Period. Specify percentage (to the nearest 1/10,000 of
1%) and specify whether “PLUS” or “MINUS”. 

	5
	 Specify rate of interest per annum (to the nearest 1/10,000 of 1%). 

 

 D-1 

 We understand and agree that the offer(s) set forth above, subject to the satisfaction of
the applicable conditions set forth in the Amended and Restated Credit Agreement dated as of June 22, 2006 among the Borrower, the Banks party thereto and yourselves, as Administrative Agent, irrevocably obligate(s) us to make the Competitive
Bid Loan(s) for which any offer(s) are accepted, in whole or in part. 
  

					
		 	 Very truly yours,
  

[NAME OF BANK]

			
	Dated:                     	 	By:	 	  

		 		 	Authorized Officer

  

 D-2 

 EXHIBIT E 

OPINION OF COUNSEL FOR 

CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. 

[Effective Date] 
 To the Banks
and the Administrative Agent 
 Referred to Below 

c/o JPMorgan Chase Bank, N.A., as Administrative Agent 

270 Park Avenue 

New York, New York 10017 
 Dear
Sirs: 
 I am the Vice President – Legal Services of Consolidated Edison Company of New York, Inc., a New York corporation
(the “Company”) and as such am familiar with the legal affairs of the Company. I and other members of the Company’s Law Department have represented the Company in connection with the Amended and Restated Credit Agreement dated
as of June 22, 2006 (the “Credit Agreement”) among the Company, Consolidated Edison, Inc., Orange and Rockland Utilities, Inc., the Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Capitalized terms
used herein without definition are used as defined in the Credit Agreement. This opinion is being rendered to you at the request of our clients pursuant to Section 3.01(b) of the Credit Agreement. 

In connection with this opinion letter, I have examined an execution copy of the Credit Agreement and originals or copies, certified or
otherwise identified to my satisfaction, of such documents, corporate records and certificates of public officials and have discussed the foregoing documents and such other matters with such personnel of the Law Department and such officials of the
Company, as I considered necessary or appropriate to enable me to express the opinions stated in this letter. In such examination, I have assumed the genuineness of all documents submitted to me as originals, and the conformity to the originals of
all documents submitted to me as copies. 
 Based on the foregoing and subject to the other qualifications, assumptions and
limitations stated herein, it is my opinion that: 
 1. The Company is a corporation duly incorporated, validly existing and in
good standing under the laws of New York and has all corporate powers and all material governmental licenses, authorizations, consents and approvals required to carry on its business as now conducted. 

 

 E-1 

 2. The execution, delivery and performance by the Company of the Credit Agreement and the
Notes are within the Company’s corporate powers, have been duly authorized by all necessary corporate action and require no action by or in respect of, or filing with, any governmental body, agency or official (except (i) the approval of
the PSC for borrowings with a maturity of more than one year, which has been obtained for borrowings prior to December 31, 2009 under one or more revolving credit agreements in amounts at any time outstanding of up to $1.5 billion;
(ii) the authorization by the FERC of short-term borrowings, which has been obtained for borrowings prior to December 31, 2007 in amounts at any time outstanding of up to $1.5 billion; and (iii) the filing of such reports with the PSC
and the FERC as may be required under law), and do not contravene, or constitute a default under, any provision of applicable law or regulation or of the Company’s certificate of incorporation or by-laws or of any agreement, judgment,
injunction, order, decree or other instrument binding upon the Company or result in the creation or imposition of any Lien on any asset of the Company. 

3. The Credit Agreement constitutes a valid and binding agreement of the Company and each Note issued thereunder today constitutes a
valid and binding obligation of the Company, in each case enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally and general principles of equity. 

4. Except as otherwise disclosed in the Company’s periodic reports under the Exchange Act, to the best of my knowledge, there is no
action, suit or proceeding pending or threatened against or affecting the Company before any court or arbitrator or any governmental body, agency or official, in which there is a reasonable possibility of an adverse decision which could materially
adversely affect the business, consolidated financial position or consolidated results of operations of the Company and its Consolidated Subsidiaries, considered as a whole, or which in any manner draws into question the validity of the Credit
Agreement or the Notes. 
 This letter is provided as a legal opinion only, and not as a guaranty or warranty of the matters
discussed herein. The opinion expressed in this letter is limited to the matters stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated. 

The opinions expressed in this letter are based on laws and regulations as in effect on the date hereof and facts as I understand them as
of the date hereof. I am not assuming any obligation, and do not undertake to revise, update or supplement this opinion letter after the date hereof notwithstanding any change in applicable law or regulation or interpretation thereof, any amendment,
supplement modification or rescission of any document examined or relied on in connection herewith, or any change in the facts, after the date hereof. 
  

 E-2 

 I am a member of the Bar of the State of New York and I do not express any opinion herein
concerning any law other than the law of the State of New York and the federal laws of the United States of America. 
 The
opinions expressed in this letter are rendered in connection with the transactions contemplated by the Credit Agreement solely for your benefit and are not to be relied upon, quoted, circulated, used or otherwise referred to for any other purpose,
nor may it be relied upon by any other person, without my prior written consent. 
 Very truly yours,

  

 E-3 

 EXHIBIT F 

OPINION OF COUNSEL FOR 

CONSOLIDATED EDISON, INC. 

[Effective Date] 
 To the Banks
and the Administrative Agent 
 Referred to Below 

c/o JPMorgan Chase Bank, N.A., as Administrative Agent 

270 Park Avenue 

New York, New York 10017 
 Dear
Sirs: 
 I am the Vice President – Legal Services of Consolidated Edison Company of New York, Inc.
(“ConEd”), the principal subsidiary of Consolidated Edison, Inc., a New York corporation (the “Company”), and as such am familiar with the legal affairs of the Company. I and other members of ConEd’s Law
Department have represented the Company in connection with the Amended and Restated Credit Agreement dated as of June 22, 2006 (the “Credit Agreement”) among the Company, Consolidated Edison Company of New York, Inc., Orange
and Rockland Utilities, Inc., the Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Capitalized terms used herein without definition are used as defined in the Credit Agreement. This opinion is being rendered to you at the
request of our clients pursuant to Section 3.01(b) of the Credit Agreement. 
 In connection with this opinion letter, I
have examined an execution copy of the Credit Agreement and originals or copies, certified or otherwise identified to my satisfaction, of such documents, corporate records and certificates of public officials and have discussed the foregoing
documents and such other matters with such personnel of the Law Department and such officials of the Company, as I considered necessary or appropriate to enable me to express the opinions stated in this letter. In such examination, I have assumed
the genuineness of all documents submitted to me as originals, and the conformity to the originals of all documents submitted to me as copies. 

Based on the foregoing and subject to the other qualifications, assumptions and limitations stated herein, it is my opinion that:

 1. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of New York and has
all corporate powers and all material governmental licenses, authorizations, consents and approvals required to carry on its business as now conducted. 
  

 F-1 

 2. The execution, delivery and performance by the Company of the Credit Agreement and the
Notes are within the Company’s corporate powers, have been duly authorized by all necessary corporate action and require no action by or in respect of, or filing with, any governmental body, agency or official, and do not contravene, or
constitute a default under, any provision of applicable law or regulation or of the Company’s certificate of incorporation or by-laws or of any agreement, judgment, injunction, order, decree or other instrument binding upon the Company or any
Material Subsidiary or result in the creation or imposition of any Lien on any asset of the Company or any Material Subsidiary. 

3. The Credit Agreement constitutes a valid and binding agreement of the Company and each Note issued thereunder today constitutes a
valid and binding obligation of the Company, in each case enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally and general principles of equity. 

4. Except as otherwise disclosed in the Company’s periodic reports under the Exchange Act, to the best of my knowledge, there is no
action, suit or proceeding pending or threatened against or affecting the Company or any Material Subsidiary before any court or arbitrator or any governmental body, agency or official, in which there is a reasonable possibility of an adverse
decision which could materially adversely affect the business, consolidated financial position or consolidated results of operations of the Company and its Consolidated Subsidiaries, considered as a whole, or which in any manner draws into question
the validity of the Credit Agreement or the Notes. 
 5. Each of the Company’s Material Subsidiaries is a corporation
validly existing and in good standing under the laws of its jurisdiction of incorporation, and has all corporate powers and all material governmental licenses, authorizations, consents and approvals required to carry on its business as now
conducted. 
 This letter is provided as a legal opinion only, and not as a guaranty or warranty of the matters discussed
herein. The opinion expressed in this letter is limited to the matters stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated. 

The opinions expressed in this letter are based on laws and regulations as in effect on the date hereof and facts as I understand them as
of the date hereof. I am not assuming any obligation, and do not undertake to revise, update or supplement this opinion letter after the date hereof notwithstanding any change in applicable law or regulation or interpretation thereof, any amendment,
supplement modification or rescission of any document examined or relied on in connection herewith, or any change in the facts, after the date hereof. 
  

 F-2 

 I am a member of the Bar of the State of New York and I do not express any opinion herein
concerning any law other than the law of the State of New York and the federal laws of the United States of America. 
 The
opinions expressed in this letter are rendered in connection with the transactions contemplated by the Credit Agreement solely for your benefit and are not to be relied upon, quoted, circulated, used or otherwise referred to for any other purpose,
nor may it be relied upon by any other person, without my prior written consent. 
 Very truly yours,

  

 F-3 

 EXHIBIT G 

OPINION OF COUNSEL FOR 

ORANGE AND ROCKLAND UTILITIES, INC. 

[Effective Date] 
 To the Banks
and the Administrative Agent 
 Referred to Below 

c/o JPMorgan Chase Bank, N.A., as Administrative Agent 

270 Park Avenue 

New York, New York 10017 
 Dear
Sirs: 
 I am the Vice President – Legal Services of Consolidated Edison Company of New York, Inc.
(“ConEd”), the principal subsidiary of Consolidated Edison, Inc. and as such am familiar with the legal affairs of Orange and Rockland Utilities, Inc., a New York corporation (the “Company”). I and other members of
ConEd’s Law Department have represented the Company in connection with the Amended and Restated Credit Agreement dated as of June 22, 2006 (the “Credit Agreement”) among the Company, Consolidated Edison, Inc., Consolidated
Edison Company of New York, Inc., the Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. Capitalized terms used herein without definition are used as defined in the Credit Agreement. This opinion is being rendered to you at
the request of our clients pursuant to Section 3.01(b) of the Credit Agreement. 
 In connection with this opinion letter,
I have examined an execution copy of the Credit Agreement and originals or copies, certified or otherwise identified to my satisfaction, of such documents, corporate records and certificates of public officials and have discussed the foregoing
documents and such other matters with such personnel of the Law Department and such officials of the Company, as I considered necessary or appropriate to enable me to express the opinions stated in this letter. In such examination, I have assumed
the genuineness of all documents submitted to me as originals, and the conformity to the originals of all documents submitted to me as copies. 

Based on the foregoing and subject to the other qualifications, assumptions and limitations stated herein, it is my opinion that:

 1. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of New York and has
all corporate powers and all material governmental licenses, authorizations, consents and approvals required to carry on its business as now conducted. 
  

 G-1 

 2. The execution, delivery and performance by the Company of the Credit Agreement and the
Notes are within the Company’s corporate powers, have been duly authorized by all necessary corporate action and require no action by or in respect of, or filing with, any governmental body, agency or official (except (i) the approval of
the PSC for borrowings with a maturity of more than one year, which has been obtained for borrowings prior to December 31, 2009 under one or more revolving credit agreements in amounts at any time outstanding of up to $325 million, less other
long-term debt issued after 2005; (ii) the authorization by the FERC of short-term borrowings, which has been obtained for borrowings prior to December 31, 2007 in amounts at any time outstanding of up to $200 million; and (iii) the
filing of such reports with the PSC and the FERC as may be required under law), and do not contravene, or constitute a default under, any provision of applicable law or regulation or of the Company’s certificate of incorporation or by-laws or
of any agreement, judgment, injunction, order, decree or other instrument binding upon the Company or any Material Subsidiary or result in the creation or imposition of any Lien on any asset of the Company or any Material Subsidiary. 

3. The Credit Agreement constitutes a valid and binding agreement of the Company and each Note issued thereunder today constitutes a
valid and binding obligation of the Company, in each case enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally and general principles of equity. 

4. Except as otherwise disclosed in the notes to the Company’s financial statements (available on the Company’s website
(www.oru.com)), to the best of my knowledge, there is no action, suit or proceeding pending or threatened against or affecting the Company or any Material Subsidiary before any court or arbitrator or any governmental body, agency or official, in
which there is a reasonable possibility of an adverse decision which could materially adversely affect the business, consolidated financial position or consolidated results of operations of the Company and its Consolidated Subsidiaries, considered
as a whole, or which in any manner draws into question the validity of the Credit Agreement or the Notes. 
 5. Each of the
Company’s Material Subsidiaries is a corporation validly existing and in good standing under the laws of its jurisdiction of incorporation, and has all corporate powers and all material governmental licenses, authorizations, consents and
approvals required to carry on its business as now conducted. 
 This letter is provided as a legal opinion only, and not as a
guaranty or warranty of the matters discussed herein. The opinion expressed in this letter is limited to the matters stated herein, and no opinion is implied or may be inferred beyond the matters expressly stated. 

 

 G-2 

 The opinions expressed in this letter are based on laws and regulations as in effect on the
date hereof and facts as I understand them as of the date hereof. I am not assuming any obligation, and do not undertake to revise, update or supplement this opinion letter after the date hereof notwithstanding any change in applicable law or
regulation or interpretation thereof, any amendment, supplement modification or rescission of any document examined or relied on in connection herewith, or any change in the facts, after the date hereof. 

I am a member of the Bar of the State of New York and I do not express any opinion herein concerning any law other than the law of the
State of New York and the federal laws of the United States of America. 
 The opinions expressed in this letter are rendered in
connection with the transactions contemplated by the Credit Agreement solely for your benefit and are not to be relied upon, quoted, circulated, used or otherwise referred to for any other purpose, nor may it be relied upon by any other person,
without my prior written consent. 
 Very truly yours, 

 

 G-3 

 EXHIBIT H 

OPINION OF DAVIS POLK & WARDWELL, 

SPECIAL COUNSEL FOR THE AGENT 

[Effective Date] 
 To the Banks
and the Administrative Agent 
 Referred to Below 

c/o JPMorgan Chase Bank, N.A., as Administrative Agent 

270 Park Avenue 

New York, New York 10017 
 Dear
Sirs: 
 We have participated in the preparation of the Amended and Restated Credit Agreement dated as of June 22, 2006
(the “Credit Agreement”) among Consolidated Edison Company of New York, Inc., a New York corporation (“ConEd”), Consolidated Edison, Inc., a New York corporation (“Holdings”) and Orange and Rockland
Utilities, Inc., a New York corporation (“O&R” and, together with ConEd and Holdings, the “Borrowers” and each a “Borrower”), the Banks party thereto and JPMorgan Chase Bank, N.A., as
Administrative Agent, and have acted as special counsel for the Administrative Agent for the purpose of rendering this opinion pursuant to Section 3.01(c) of the Credit Agreement. Terms defined in the Credit Agreement are used herein as therein
defined. 
 We have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents,
corporate records, certificates of public officials and other instruments and have conducted such other investigations of fact and law as we have deemed necessary or advisable for purposes of this opinion. 

Upon the basis of the foregoing, we are of the opinion that: 

1. The execution, delivery and performance by each Borrower of the Credit Agreement and the Notes are within such Borrower’s
corporate powers and have been duly authorized by all necessary corporate action. 
 2. The Credit Agreement constitutes a valid
and binding agreement of each Borrower and each Note issued thereunder today constitutes a valid and binding obligation of the Borrower issuing such Note, in each case enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency or similar laws affecting creditors’ rights generally and general principles of equity. 
  

 H-1 

 We are members of the Bar of the State of New York and the foregoing opinion is limited to
the laws of the State of New York and the federal laws of the United States of America. In giving the foregoing opinion, we express no opinion as to the effect (if any) of any law of any jurisdiction (except the State of New York) in which any Bank
is located which limits the rate of interest that such Bank may charge or collect. 
 This opinion is rendered solely to you in
connection with the above matter. This opinion may not be relied upon by you for any other purpose or relied upon by any other Person without our prior written consent. 

Very truly yours, 
  

 H-2 

 EXHIBIT I 

ASSIGNMENT AND ASSUMPTION AGREEMENT 

AGREEMENT dated as of             ,
20    among [NAME OF ASSIGNOR] (the “Assignor”) and [NAME OF ASSIGNEE] (the “Assignee”). 

WHEREAS, this Assignment and Assumption Agreement (the “Agreement”) relates to the Amended and Restated Credit Agreement
dated as of June 22, 2006 among CONSOLIDATED EDISON COMPANY OF NEW YORK, INC., A NEW YORK CORPORATION (“CONED”), CONSOLIDATED EDISON, INC., A NEW YORK CORPORATION (“HOLDINGS”) AND ORANGE AND ROCKLAND UTILITIES,
INC., A NEW YORK CORPORATION (“O&R” AND, TOGETHER WITH CONED AND HOLDINGS, THE “BORROWERS”), the Assignor and the other Banks party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the
“Administrative Agent”) (as amended from time to time, the “Credit Agreement”); 
 WHEREAS, as
provided under the Credit Agreement, the Assignor has a Commitment to make Loans to the Borrowers in an aggregate principal amount at any time outstanding not to exceed
$                    ; 

WHEREAS, [Committed] Loans made to the Borrowers by the Assignor under the Credit Agreement in the aggregate principal amount of
$                     are outstanding at the date hereof; 

WHEREAS, the Assignor has Letter of Credit Liabilities in an aggregate amount of
$                     under the Credit Agreement at the date hereof; and 

WHEREAS, the Assignor proposes to assign to the Assignee all of the rights of the Assignor under the Credit Agreement in respect of a
portion of its Commitment thereunder in an amount equal to $                     (the “Assigned Amount”), together with a
corresponding portion of each of its outstanding [Committed] Loans and Letter of Credit Liabilities, and the Assignee proposes to accept such assignment and assume the corresponding obligations of the Assignor under the Credit Agreement; 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, the parties hereto agree as follows:

 SECTION 1. Definitions. All capitalized terms not otherwise defined herein have the
respective meanings set forth in the Credit Agreement. 
 SECTION 2. Assignment. The Assignor
hereby assigns and sells to the Assignee all of the rights of the Assignor under the Credit Agreement to the extent of the Assigned Amount and a corresponding portion of each of its 

 

 I-1 

 
outstanding [Committed] Loans and Letter of Credit Liabilities, and the Assignee hereby accepts such assignment from the Assignor and assumes all of the obligations of the Assignor under the
Credit Agreement to the extent of the Assigned Amount. Upon the execution and delivery hereof by the Assignor and the Assignee and the execution of the consent attached hereto by the Borrowers and the Administrative Agent and the payment of the
amounts specified in Section 3 required to be paid on the date hereof (i) the Assignee shall, as of the date hereof, succeed to the rights and be obligated to perform the obligations of a Bank under the Credit Agreement with a Commitment
in an amount equal to the Assigned Amount and acquire the rights of the Assignor with respect to a corresponding portion of each of its outstanding [Committed] Loans and Letter of Credit Liabilities and (ii) the Commitment of the Assignor
shall, as of the date hereof, be reduced by the Assigned Amount, and the Assignor shall be released from its obligations under the Credit Agreement to the extent such obligations have been assumed by the Assignee. The assignment provided for herein
shall be without recourse to the Assignor. 
 SECTION 3. Payments. As
consideration for the assignment and sale contemplated in Section 2 hereof, the Assignee shall pay to the Assignor on the date hereof in Federal funds the amount heretofore agreed between
them.1 Facility fees [and commitment fees] accrued before
the date hereof are for the account of the Assignor and such fees accruing on and after the date hereof with respect to the Assigned Amount are for the account of the Assignee. Each of the Assignor and the Assignee agrees that if it receives any
amount under the Credit Agreement which is for the account of the other party hereto, it shall receive the same for the account of such other party to the extent of such other party’s interest therein and promptly pay the same to such other
party. 
 SECTION 4. Consent of the Borrowers and the Administrative Agent. This Agreement is
conditioned upon the consent of the Issuing Bank [, the Borrower] and the Administrative Agent pursuant to Section 9.06(b) of the Credit Agreement. 

SECTION 5. No Reliance on Assignor. The Assignor makes no representation or warranty in connection
with, and shall have no responsibility with respect to, the solvency, financial condition or statements of the Borrowers, or the validity and enforceability of the Borrowers’ obligations under the Credit Agreement or any Note. The Assignee
acknowledges that it has, independently and without reliance on the Assignor, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and will continue to be
responsible for making its own independent appraisal of the business, affairs and financial condition of the Borrowers. 
  

	1
	 Amount should combine principal together with accrued interest and breakage compensation, if any, to be paid by the Assignee, net of any portion of any
upfront fee to be paid by the Assignor to the Assignee. It may be preferable in an appropriate case to specify these amounts generically or by formula rather than as a fixed sum. 

 

 I-2 

 SECTION 6. Governing Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of New York. 
 SECTION 7.
Counterparts. This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

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

			
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Name:
		 	Title:

 The undersigned consent to
the foregoing assignment. 
  

			
	 [CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.]

		
	By:	 	  

		 	Name:
		 	Title:
	
	 [CONSOLIDATED EDISON, INC.]

		
	By:	 	  

		 	Name:
		 	Title:

  

 I-3 

			
	 [ORANGE AND ROCKLAND UTILITIES, INC.]

		
	By:	 	  

		 	Name:
		 	Title:
	
	 [BANK NAME], as Issuing Bank

		
	By:	 	  

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A., as Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

  

 I-4 

 EXHIBIT J 

DESIGNATION AGREEMENT 

dated as of                  ,
         
 Reference is made to the Amended and Restated Credit Agreement dated
as of June 22, 2006 (as amended from time to time, the “Credit Agreement”) among CONSOLIDATED EDISON COMPANY OF NEW YORK, INC., A NEW YORK CORPORATION (“CONED”), CONSOLIDATED EDISON, INC., A NEW YORK
CORPORATION (“HOLDINGS”) AND ORANGE AND ROCKLAND UTILITIES, INC., A NEW YORK CORPORATION (“O&R” AND, TOGETHER WITH CONED AND HOLDINGS, THE “BORROWERS”), the BANKS party thereto, CITIBANK, N.A.,
as Syndication Agent, and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative Agent”). Terms defined in the Credit Agreement are used herein with the same meaning. 

                     (the
“Designator”) and                      (the “Designee”) agree as follows: 

(a) The Designator designates the Designee as its Designated Lender under the Credit Agreement and the Designee accepts such designation.

 (b) The Designator makes no representations or warranties and assumes no responsibility with respect to the financial
condition of the Borrowers or the performance or observance by the Borrowers of any of their obligations under the Credit Agreement or any other instrument or document furnished pursuant thereto. 

(c) The Designee (i) confirms that it is an Eligible Designee; (ii) appoints and authorizes the Designator as its
administrative agent and attorney-in-fact and grants the Designator an irrevocable power of attorney to receive payments made for the benefit of the Designee under the Credit Agreement and to deliver and receive all communications and notices under
the Credit Agreement, if any, that the Designee is obligated to deliver or has the right to receive thereunder; (iii) acknowledges that the Designator retains the sole right and responsibility to vote under the Credit Agreement, including,
without limitation, the right to approve any amendment or waiver of any provision of the Credit Agreement; and (iv) agrees that the Designee shall be bound by all such votes, approvals, amendments and waivers and all other agreements of the
Designator pursuant to or in connection with the Credit Agreement, all subject to Section 9.05(c) of the Credit Agreement. 

(d) The Designee (i) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial
statements referred to in Article 4 or delivered pursuant to Article 5 thereof and such other documents and information as it has deemed appropriate to make its own credit 

 

 J-1 

 
analysis and decision to enter into this Designation Agreement and (ii) agrees that it will, independently and without reliance upon the Administrative Agent, the Designator or any other
Bank 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 any action it may be permitted to take under the Credit Agreement. The Designee acknowledges
that it is subject to and bound by the confidentiality provisions of the Credit Agreement (except as provided in Section 9.07(a) thereof). 

(e) Following the execution of this Designation Agreement by the Designator and the Designee and the consent hereto by the Borrowers, it
will be delivered to the Administrative Agent for its consent. This Designation Agreement shall become effective when the Administrative Agent consents hereto or on any later date specified on the signature page hereof. 

(f) Upon the effectiveness hereof, the Designee shall have the right to make Loans or portions thereof as a Bank pursuant to
Section 2.01 or 2.03 of the Credit Agreement and the rights of a Bank related thereto. The making of any such Loans or portions thereof by the Designee shall satisfy the obligations of the Designator under the Credit Agreement to the same
extent, and as if, such Loans or portions thereof were made by the Designator. 
 (g) This Designation Agreement shall be
governed by, and construed in accordance with, the laws of the State of New York. 
 IN WITNESS WHEREOF, the parties have caused
this Designation Agreement to be executed by their respective officers hereunto duly authorized, as of the date first above written. 

Effective Date:                 ,
         
  

			
	 [NAME OF DESIGNATOR]

		
	By:	 	  

		 	Name:
		 	Title:
	
	 [NAME OF DESIGNEE]

		
	By:	 	  

		 	Name:
		 	Title:

  

 J-2 

 The undersigned consent to the foregoing assignment. 

 

			
	 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.

		
	By:	 	  

		 	Name:
		 	Title:
	
	 CONSOLIDATED EDISON, INC.

		
	By:	 	  

		 	Name:
		 	Title:
	
	 ORANGE AND ROCKLAND UTILITIES, INC.

		
	By:	 	  

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A., as Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

  

 J-3 

 EXHIBIT K 

FORM OF EXTENSION AGREEMENT 

JPMorgan Chase Bank, N.A. 
 as
Administrative Agent 
 under the Credit Agreement 

referred to below 
 Ladies and
Gentlemen: 
 The undersigned hereby agrees to extend, effective [Extension Date], the Termination Date under the Amended and
Restated Credit Agreement dated as of June 22, 2006 (as further amended from time to time, the “Credit Agreement”) among Consolidated Edison Company of New York, Inc., Consolidated Edison, Inc. Orange and Rockland Utilities,
Inc., the Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, for one year to [date to which the Termination Date is extended]. Terms defined in the Credit Agreement are used herein with the same meaning. 

This Extension Agreement shall be construed in accordance with and governed by the law of the State of New York. 

 

			
	[LENDERS]
		
	By:	 	  

		 	Name:
		 	Title:

  

 K-1 

 Agreed and accepted: 
  

			
	 CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.

		
	By:	 	  

		 	Name:
		 	Title:
	
	 CONSOLIDATED EDISON, INC.

		
	By:	 	  

		 	Name:
		 	Title:
	
	 ORANGE AND ROCKLAND UTILITIES, INC.

		
	By:	 	  

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A., as Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

  

 K-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]