Document:

EX-10.1

 Exhibit 10.1 

OCCUPATIONAL LEASE OF FIRST FLOOR, UNIT B, COOKSTOWN 

COURT, TALLAGHT, DUBLIN 24 

DATED THE 15th DAY OF July 2015 
  

	 	(1)	DELTA DISTRIBUTORS LIMITED 

 AND 

 

	 	(2)	FLEETMATICS IRELAND LIMITED 

  

	 	(3)	FLEETMATICS GROUP PLC 

 L E A S E 

FIRST FLOOR, BLOCK B, COOKSTOWN 

COURT, TALLAGHT, DUBLIN 24 

S DUFFY & CO 

Solicitors 
 10 Herbert
Street 
 Dublin 2 

 CONTENTS 

CLAUSE NO 
  

	1.	Summary of Lease Particulars 

  

	2.	Definitions 

  

	3.	Demise 

  

	4.	Rent 

  

	5.	Repair and Cleaning 

  

	6.	Paint and Decoration 

  

	7.	User 

  

	8.	Alterations 

  

	9.	Planning 

  

	10.	Building Control 

  

	11.	Alienation 

  

	12.	Tenant’s other Covenants 

	 	12.1	Outgoings 

	 	12.2	Utilities 

	 	12.3	Stamp Duty and VAT 

	 	12.4	Landlord’s Costs 

	 	12.5	Indemnity 

	 	12.6	Interest on Arrears 

	 	12.7	Access by Landlord and Notice of Repair 

	 	12.8	Aerial Signs & Advertisements 

	 	12.9	Statutes Notices and Orders 

	 	12.10	Equipment 

	 	512.11	Defective Premises 

	 	12.12	Encroachments 

	 	12.13	Evidence of Compliance 

  
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	 	12.14	Nuisance 

	 	12.15	Keyholders 

	 	12.16	Sale of Reversion 

	 	12.17	Re-letting 

	 	12.18	Yield Up 

	 	12.19	Superior Lease 

  

	13.	Landlord’s Covenants 

	 	13.1	Quiet Enjoyment 

	 	13.2	Exercising Rights 

  

	14.	Insurance 

	 	14.1	Landlord’s Covenants 

	 	14.2	Tenant’s Covenants 

	 	14.3	Suspension of Rent 

	 	14.4	Re-instatement 

  

	15.	Services and Service Charges 

	 	15.1	Services 

	 	15.2	Qualified nature of the Landlord’s covenants 

	 	15.3	Definitions 

	 	15.4	Payment of Service Charges 

  

	16.	Forfeiture 

  

	17.	Miscellaneous 

	 	17.1	Representations 

	 	17.2	Exclusion of Use Warranty 

	 	17.3	Disputes with Adjoining Owners 

	 	17.4	Covenants relating to Adjoining Premises 

	 	17.5	Effect of Waiver 

	 	17.6	Rights and Easements 

	 	17.7	Closure of Building 

	 	17.8	Extension of Term 

	 	17.9	Perpetuity Period 

	 	17.10	Landlord’s Surveyor 

	 	17.11	Tenant’s Possessions 

	 	17.12	Tenant’s Option to Determine 

  

	18.	Guarantee 

  

	19	Notices. 

  

	20.	Interpretation 

  
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	1.	SUMMARY OF LEASE PARTICULARS 

  

	 	1.1	Date of Lease: 15th day of July 2015 

  

	 	1.2	The Landlord: DELTA DISTRIBUTORS LIMITED having its registered office at Dartmouth House, Kylemore Road, Dublin 10. 

  

	 	1.3	The Tenant: FLEETMATICS IRELAND LIMITED having its registered office at Floors 1 and 2, Block C, Cookstown Industrial Estate, Belgard Road, Tallaght, Dublin 24.  

 

	 	1.4	The Guarantor: FLEETMATICS GROUP PLC having its registered office at Floors 1 and 2, Block C, Cookstown Court, Cookstown Industrial Estate, Tallaght, Dublin 

 

	 	1.5	The Estate: Cookstown Court, Cookstown Industrial Estate, Tallaght, Dublin 24. 

  

	 	1.6	The Property: First Floor Unit B, Cookstown Court, Cookstown Industrial Estate, Tallaght, Dublin 24 

  

	 	1.7	The Term: From the Commencement Date until 15 July 2018. 

  

	 	1.8	The Commencement Date: The 15th day of July 2015 

  

	 	1.9	The Initial Rent: €89,966.00, comprising of (i) €73,716.00 which is calculated at the rate of €12 per square foot per annum of internal gross floor area and (ii) €16,250.00 for 25 car
park spaces at the rate of €650.00 per annum per car park space. 

  

	 	1.10	The Gale Days: the Commencement Date and quarterly thereafter on 1 January, 1 April, 1 July and 1 October in every year of the Term 

 

	 	1.11	The Permitted Use: Offices 

  

	 	1.12	The Tenant’s Share: Ratio which the gross internal floor area of the Property bears to the aggregate of the gross internal floor area of all the Units. 

 

	 	1.13	The Service Charge Commencement Date: The 15th day of July 2015. 

  
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 THIS LEASE made the 15th day of July 2015. 

BETWEEN: 
  

	(1)	DELTA DISTRIBUTORS LIMITED having its registered office at Dartmouth House, Kylemore Road, Dublin 10 (“Landlord”). 

  

	(2)	FLEETMATICS IRELAND LIMITED having its registered office at Floors 1 and 2, Block C, Cookstown Industrial Estate, Belgard Road, Tallaght, Dublin 24 (“Tenant”) and 

 

	(3)	FLEETMATICS GROUP PLC having its registered office at Floors 1 and 2, Block C, Cookstown Court, Cookstown Industrial Estate, Tallaght, Dublin (“Guarantor”) 

 

	2.	DEFINITIONS 

 In this Lease the following terms shall have the following meanings unless
the context otherwise requires: 
  

	 	2.1.	“the Basement” means the entire of the Building situated below the upper surface of the Deck excluding the core. 

  

	 	2.2.	“the Building” means the office building and double level basement constructed on the Estate comprising four separate terraced office units known as Block A, Block B, Block C and Block D including the
basement. 

  

	 	2.3.	“the Car Spaces” means the car parking spaces in the Basement and in the Common Areas exclusively allocated to each Unit for car parking. 

 

	 	2.4.	“the Common Areas” means those parts of the Estate excluding the Units designed for the common use and enjoyment of the owners and occupiers of the Building and all persons expressly or by implication
authorised by them including but not limited to: 

  

	 	(a)	The Basement. 

  

	 	(b)	The fire escape stairs not forming part of any Unit and all structural parts of such stairs including fire doors leading out to such stairs. 

  
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	 	(c)	Any structural part of the Building which does not form part of the Unit or any other Unit in the Building. 

  

	 	(d)	All roads, footpaths, ramps, concourses, car parking areas, service areas, boundary fencing and landscaped areas within the Estate. 

  

	 	2.5.	“the Conduits” means all sewers, drains, pipes, cables, wires, gutters, ducts and all other forms of media used or intended to be used for conducting or for the passage of water, drainage, electricity,
gas, telephone, alarm signals, air extracted, air ventilated, air heated or other services or supplies. 

  

	 	2.6.	“the Core” means that portion of the Unit situated below the Deck but excluding the structural parts of the Core and load bearing walls but including the internal plaster finish thereof.

  

	 	2.7.	“the Deck” means the entire of the structural slab forming the roof of the upper level of the basement. 

  

	 	2.8.	“Estate” means the office development known as Cookstown Court, Cookstown Industrial Estate, Tallaght, Dublin 24 outlined on the map annexed hereto and thereon edged in blue and including the Building,
the Units, the Basement, the Common Areas, the Deck, the Core, the Unit Plant Area and the Car Spaces. 

  

	 	2.9.	“the Estate Plant” means all access control, lighting, ventilation, services, heating services, cooling services, fire fighting services and other services exclusively provided to the Common Areas and
the Basement. 

  

	 	2.10.	“Gale Days” means the Commencement Date and quarterly thereafter on 1 January, 1 April, 1 July and 1 October in every year of the Term 

 

	 	2.11.	“Initial Rent” means €89,966.00, comprising of (i) €73,716.00 which is calculated at the rate of €12 per square foot per annum of internal gross floor area and
(ii) €16,250.00 for 25 car park spaces at the rate of €650.00 per annum per car park space. 

  

	 	2.12.	“Insurance Commencement Date” means the 15th day of July 2015. 

  
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	 	2.13.	“Insured Risks” means, subject to all such exclusions, excesses and limitations as are normally available and as may be imposed by the Landlord’s insurers for the time being in respect of any or
all of the following: fire, storm, tempest, flood, earthquake, lightning, explosion, impact, aircraft and other aerial devices and articles dropped therefrom, riot, civil commotion and malicious damage, bursting or overflowing of water tanks,
apparatus or pipes, public liability, property owners liability, four years loss of rent and service charge, architect’s and professional fees, the cost of removal of debris and such other risks as the Landlord may in his absolute discretion
from time to time determine. 

  

	 	2.14.	“Landlord” means the person or persons so named in this Lease and includes its successors and permitted assigns and any other person for the time being entitled to the reversion immediately expectant on
the determination of this Lease. 

  

	 	2.15.	“Permitted Use” means Offices. 

  

	 	2.16.	“Property” means First Floor Unit B, Cookstown Court, Cookstown Industrial Estate, Tallaght, Dublin 24 of the Estate as more particularly shown delineated and edged in red on the Map annexed hereto
being part of the Estate including: 

  

	 	2.16.1.	The internal plaster surfaces and finishes of all structural or load bearing walls and columns therein or which enclose the same, but not any other part of such walls and columns. 

 

	 	2.16.2.	The entirety of all non-structural and non-load bearing walls and columns therein. 

  

	 	2.16.3.	The inner half severed medially of the internal non-load bearing walls (if any that divides same from other parts of the Estate). 

  

	 	2.16.4.	The floor finishes thereof (and all carpets) save that the lower limit of the property shall not extend to anything below the floor finishes (except that raised floors and the cavity below them shall be included).

  

	 	2.16.5.	The ceiling finishes thereof including all suspended ceilings (if any) and light fittings save that the upper limit of the property shall not extend to anything above the ceiling finishes (except for the cavity above
any suspended ceiling shall be included). 

  
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	 	2.16.6.	All window frames and windows furniture with all glass in the windows and all doors, door furniture and door frames. 

  

	 	2.16.7.	All sanitary and hot and cold water apparatus and equipment and radiators (if any) therein and all fire fighting equipment and hoses therein. 

 

	 	2.16.8.	All Conduits as therein exclusively serving same. 

  

	 	2.17.	“Rent Commencement Date” means the day of 2015 

  

	 	2.18.	“Tenant” means the person or persons so named in this Lease and includes the successors in title of the Tenant to the Term and its permitted assigns. 

 

	 	2.19.	“Tenant’s Share” means the ratio which the gross internal floor area of the Property bears to the aggregate of the gross internal floor area of all the Units. 

 

	 	2.20.	“Term” means the period from the Commencement Date until 15 July 2018. 

  

	 	2.21	“the Units” means each of Blocks A, B, C and D and in each case including: 

  

	 	(a)	The upper surface of the roof of the unit and everything on the surface. 

  

	 	(b)	In relation to that portion of the unit above the Deck, the inner half severed medially of all walls whether load bearing or non-load bearing dividing the Unit from other parts of the Building. 

 

	 	(c)	The upper concreted surface only of the Deck. 

  

	 	(d)	In relation to that portion of the Unit below the Deck the internal plaster finishes only of all load bearing walls. 

  

	 	(e)	Any Conduits that exclusively serve the Unit. 

  
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	 	2.22	“the Unit Plant” means all apparatus or equipment employed in providing the ventilation, air handling, air conditioning, water storage, water supply, electrical distribution alarm, alarm services,
access control, telephone services and other services exclusively to the Units and located in the Unit Plant Area. 

  

	 	2.23	“the Unit Plant Area” means that portion of the Basement for the exclusive use by each of the Units for the operation of and storage of the Unit Plant. 

 

	3	DEMISE 

  

	 	3.1.	In consideration of the rents and covenants on the part of the Tenant contained in this Lease and subject to and upon the provisions restrictions reservations and conditions of this Lease the Landlord Demises to the
Tenant for the Term the Property. 

 TOGETHER WITH: 

 

	 	3.1.1.	the right to pass to and from the Property along the roads within the Estate with or without vehicles of any description for all purposes connected with the use and enjoyment of the Property but not to park or except in
an emergency to stop on them together with the right to pass to and from the Property over that part of Unit A comprising the entrance lobby and the stairways leading to the Property. 

 

	 	3.1.2.	the right to pass and repass over the common areas and to use the Common Areas for all proper purposes in connection with the use and enjoyment of the Property but not otherwise to include access to and from the
basement car park. 

  

	 	3.1.3.	the right subject to temporary interruption for repair alteration or replacement to the transmission of Utilities to and where appropriate from the Property through the Conduits which are now or may within the Term be
in the Estate or the Adjoining Premises that serve the Property. 

  
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	 	3.1.4.	the exclusive right to use at least 25 private car spaces shown on the plans annexed hereto as follows: 

  

	 	3.1.4.1	Surface spaces 1 – 5 (5 spaces) 

  

	 	3.1.4.2	Upper Basement 26-30 (5 spaces) 

  

	 	3.1.4.3	Upper Basement 33-35 (3 spaces) 

  

	 	3.1.4.4	Upper Basement 97-101 (5 spaces) 

  

	 	3.1.4.5	Lower Basement 25-31 (7 spaces) 

 or in such other spaces within the Estate as may from time to
time be allocated by the Landlord at the Landlords absolute discretion. 
  

	 	3.1.5.	the right of the Tenant to twenty-four hours access to the Property and Car Park Spaces at all times, seven days a week, three-hundred and sixty-five days a year provided that the Tenant complies with any regulations
made by the Landlord for security of the Estate. 

  

	 	3.1.6.	the rights mentioned in clause 3.1.1, 3.1.2, 3.1.4 and 3.1.5 may also be exercised by any person expressly or by implication authorised by the Tenant but only for proper purposes connected with the use or enjoyment of
the Property. 

  

	 	3.1.7.	all the rights mentioned in clauses 3.1.1 - 3.1.3 may also be exercised by the Landlord and by any person authorised by the Landlord and by any person who is or who becomes entitled to use them. 

 

	 	3.1.8.	the right of support and shelter and protection for the Property from the Adjoining Premises and all other parts of any building erected or to be erected on the Estate. 

 

	 	3.1.9.	the right to maintain a signboard of a size and form approved by the Landlord (such approval not to be unreasonably withheld or delayed) in a position in the Estate such position to be designated by the Landlord in
consultation with the Tenant. 

  

	 	3.2.	EXCEPTIONS 

 The following are excepted and reserved in favour of the Landlord (and may
also be exercised by person authorised by the Landlord or by any person who is or becomes entitled to exercise them): 
  

	 	3.2.1.	the right to the transmission of Utilities from and to the remainder of the Estate and the Adjoining Premises through the Conduits that are now or may during the Term be on the Property. 

  
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	 	3.2.2.	the right at convenient times to the Tenant and upon reasonable notice in writing of not less than 48 hours (but in emergency at any time and without notice) to enter the Property for any of the purposes mentioned in
clause 3.2.7. 

  

	 	3.2.3.	the right to build upon alter rebuild develop or use the Adjoining Premises even if this affects the light and air coming to the Property (other than in a material way) or causes nuisance annoyance or inconvenience to
the Tenant or occupier of the Property by noise dust vibration or otherwise. 

  

	 	3.2.4.	the right upon reasonable notice in writing to temporarily erect scaffolding for executing works altering refurbishing refitting repairing or cleaning any Adjoining Premises and even if this scaffolding temporarily
affects the access to or the use and enjoyment of the Property by the Tenant but not so that the Tenant or any other occupier of the Property will not be able to gain access to the Property. 

 

	 	3.2.5.	the right even if this affects the light and air coming to the Property (other than in a material way) or causes nuisance annoyance or inconvenience to the Tenant or the occupier of the Property by noise dust vibration
or otherwise; 

  

	 	•	 	to alter or raise the height of or rebuild any of the Adjoining Premises. 

  

	 	•	 	to erect any new building of any height on the Adjoining Premises. 

  

	 	3.2.6.	all rights easements and privileges belonging to or enjoyed by the Adjoining Premises or any neighbouring Property provided always that the person or persons exercising any of the rights specified in Clauses 3.2.1.
–3.2.7. will cause as little inconvenience as possible to the Tenant and will make good without delay any damage caused to the Property or to the Tenant’s fixtures or fitting or property. 

 

	 	3.2.7.	 the right in an emergency to pass through the Property in accordance with any regulation or requirement of any Competent Authority Provided Always
that the person or persons exercising this right will cause as little inconvenience as possible to 

  
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the Tenant and will make good without delay any damage caused to the Property or to the Tenant’s fixtures or fitting. 

 

	4.	RENT 

  

	 	4.1.	The Tenant covenants with the Landlord to pay the Initial Rent to be paid (at the option of the Landlord, which said option may be exercised on any number of occasions) either by standing order, direct debit or credit
transfer by equal quarterly payments in advance on the quarterly Gale Days without any deduction set-off counterclaim whatsoever, the first payment to be made on the execution hereof. 

 

	5.	REPAIR AND CLEANING 

 THE TENANT COVENANTS WITH THE LANDLORD: 

 

	 	5.1.	To repair the Property and keep them in good repair and as often as may be necessary to rebuild reinstate or replace the Property, and to maintain repair and keep in good working order and condition and often as may be
necessary to renew and replace by articles of a similar kind and quality all Plant and Conduits which serve the Property and to repair any damage caused to the Property by the breakdown, misuse of, or failure to repair such Plant and Conduits and to
indemnify the Landlord against any loss or liability resulting therefrom. 

  

	 	5.2.	to repair and keep in good and substantial repair and condition the Landlord’s fixtures and fittings and to renew or replace any of the fixtures and fittings that become beyond repair. 

 

	 	5.3.	to make good any damage caused to the Property by the removal of any Tenant’s fixtures and fittings during or upon the expiration or sooner determination of the Term. 

 

	 	5.4.	to clean the Property and keep it clean and tidy and in particular to clean the interior of the windows and window frames in the Property at least once in every quarter. 

 

	 	5.5	not to cause the Common Areas or any other area abutting the Property to be untidy. 

  

	6.	INTENTIONALLY LEFT BLANK 

  
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	7.	USER 

 The Tenant covenants with the Landlord: 

 

	 	7.1.	not to use or permit the Property or any part of it to be used except for the Permitted Use and for no other purpose without the prior consent in writing of the Landlord such consent not to be unreasonably withheld or
delayed but it shall be reasonable for the Landlord to withhold its consent if the change of user sought would substantially increase the insurance effected under clause 14.1. 

 

	 	7.2.	not at any time to use or allow to be used the Property or any part of it as residential accommodation or to keep any animals or birds in the Property. 

 

	 	7.3.	not to do any act or allow to remain upon the Property any substance or article which may constitute a nuisance or which may cause inconvenience disturbance injury or annoyance to the Landlord or the occupiers of the
Adjoining Premises or any nearby premises or cause damage to the Property the Adjoining Premises or other nearby premises. 

  

	 	7.4.	not at any time to use or allow to be used the Property or any part of it for any dangerous noisy noxious or offensive trade business manufacture or occupation or for any illegal or immoral purpose. 

 

	 	7.5.	not to use the property or any part thereof for gambling, betting, gaming or wagering, or as a betting office or as a club, or for the sale of beer, wines and spirits nor to hold any auction on the Property.

  

	 	7.6.	not to leave the Property continuously unoccupied for more than a month unless providing such security arrangements as the Landlord and the Landlord’s insurers may reasonably require. 

 

	 	7.7.	not to discharge into any Conduits within or that serve the Estate any substance that may obstruct them or cause damage or danger or any noxious poisonous deleterious or radioactive matter or anything likely to pollute
or contaminate. 

  

	 	7.9.	 not to permit any vehicles belonging to the Tenant or any persons calling on the Property expressly or by implication with the authority of the Tenant
to stand 

  
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on the roads or the pavements of the Estate or on any apron except when and for so long as the same are actually loading or unloading and to use its best endeavours to ensure that such persons do
not permit any vehicle to stand on any such road or pavement or apron. 

  

	 	7.10.	not to overload the floors of the Property or suspend any excessive weight from the roofs, ceilings, walls, stanchions or structure of the Property and not to overload the Utilities and Conduits in or serving in the
Property: 

  

	 	7.10.1.	not to do anything which may subject the Property or any parts thereof to any strain beyond that which they are designed to bear with due margin for safety, and to pay to the Landlord on demand all costs reasonably
incurred by the Landlord in obtaining the Opinion of a qualified structural engineer as to whether the structure of the Property is being or is vowed to be overloaded. 

 

	 	7.10.2.	to observe the weight limits and capacity prescribed for lifts in the Property. 

  

	 	7.11	to comply with all requirements of the electricity provider for the electrical wiring installation and Equipment in the Property and not to overload them. 

 

	 	7.12	not to place on the windows of the Property so as to be visible from the outside of the Property any notice sign sticker or advertisement without the Landlords prior written consent. 

 

	 	7.13	to comply with all reasonable regulations made by the Landlord from time to time for the management and security of the Estate but nothing in them may purport to vary this Lease and if there is any inconsistency between
the terms of this Lease and the regulations this Lease will prevail. 

  

	 	7.14	to ensure that there is no release from the Property into any environmental medium of any substance that is or in such quantities or concentrations that are capable of causing harm to the health of man or other living
organisms or to land surface or ground water or ecology systems. 

  

	 	7.15	 not to carry out on the Property any activity or keep on the Property any substance or article for which any

  
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authorisation licence permit consent or other approval is needed from a Competent Authority (“Official Approval”) without having obtained the Landlord’s written consent and
produced to the Landlord a copy of every application for Official Approval and produced to the Landlord a copy of the Official Approval if granted. 

  

	 	7.16	to comply with every Official Approval including any conditions to which it is subject. 

  

	8	ALTERATIONS  

 The Tenant covenants with the Landlord: 

 

	 	8.1	not to erect or suffer to be erected any new building or structure on the property or engage in any works on or make any additions or alterations to the Property of such a kind that the Property loses in original
identity. 

  

	 	8.2	not to alter divide cut maim injure or remove any of the principal or load bearing walls, floors, rooms, beams or columns of or enclosing the Property nor to make any other alterations or additions of a structural
nature. 

  

	 	8.3	Not to make any alterations or additions of a non-structural nature to the Property without obtaining the prior written consent of the Landlord (such consent not to be unreasonably withheld or delayed).

  

	 	8.4	The Landlord may, as a condition of giving any such consent require the Tenant to enter into such covenants or undertakings as to the carrying out and insurance of the additions or alterations to the Property as the
Landlord shall require regarding the execution of any such works and the reinstatement of the Property at the end or sooner determination of the Term. 

  

	 	8.5	In respect of such alterations or additions to comply in all respects with the provisions, as appropriate, of the Planning Acts, the Building Control Act and the Construction Regulations and to carry out any related
works in a good and workmanlike manner to the satisfaction of the Landlord. 

  

	 	8.6	To furnish to the Landlord a certified copy of every (if any) Grant of Planning Permission and Fire Safety Certificate required in relation to any additions or alterations to the Property and Opinions of Compliance or
(as the case may be) Exemption regarding the Planning Acts and Building Regulations in a form acceptable to the Landlord. 

  
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	9	PLANNING 

 The Tenant covenants with the Landlord: 

 

	 	9.1.	not to commit any breach of planning control and to comply with all requirements under the Planning Acts in relation to the Property. 

 

	 	9.2	not without the Landlord’s written consent (which consent is not to be unreasonably withheld or delayed to make any application for planning permission in relation to the Property or to serve any notices in respect
of an application. 

  

	 	9.3	having obtained the Landlord’s consent to apply for planning permission to serve all notices required for carrying out any operation or change of use on the Property which may constitute development (as defined in
the Planning Acts) and to pay all fees and any other sums due in relation to every application and to give notice to the Landlord of the granting or refusal (as the case may be) of planning permission forthwith on the receipt thereof.

  

	 	9.4	even if the Landlord has consented to an application being made not to carry out any operation or change of use on the Property which may constitute development (as defined in the Planning Acts) until:

  

	 	9.4.1	all necessary notices under the Planning Acts have been served and copies produced to the Landlord. 

  

	 	9.4.2	all necessary permissions under the Planning Acts have been obtained and produced to the Landlord. 

  

	 	9.4.3	the Landlord has acknowledged that every necessary planning permission is acceptable to it (such acknowledgement not to be unreasonably withheld) although the Landlord may refuse to acknowledge its acceptance of a
planning permission on the grounds that any condition contained in it or anything omitted from it or the period referred to in it would be or would likely to be prejudicial to the Landlord’s interest in the Property whether during or after the
expiry of the Term. 

  
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	 	9.4.4	unless the Landlord otherwise directs to complete before the expiry or sooner determination of the Term: 

  

	 	9.4.5	any works specified as having to be carried out to the Property by a date subsequent to the expiry or sooner determination of the Term in a planning permission or in an agreement with the planning or any other authority
entered into as a condition to obtaining planning permission. 

  

	 	9.4.6	any development begun on the Property. 

  

	 	9.4.7	in any case where a planning permission is granted subject to conditions and if the Landlord reasonably requires to provide security for the compliance with those conditions and not to implement the planning permission
until security has been provided. 

  

	 	9.4.8	if and when called upon to do so to produce to the Landlord all such plans documents and other evidence as the Landlord may reasonably require in order to satisfy itself that the provisions of this clause have been
complied with. 

  

	 	9.4.9	forthwith to notify the Landlord of any notice order or proposal for a notice or order served on the Tenant under the Planning Acts and if so required by the Landlord to produce copies of any such notice order or
proposal for a notice or order. 

  

	 	9.4.10	to comply with any notice or order served on the Tenant under the Planning Acts in relation to the property and to pay the costs of compliance with such notice or order. 

 

	 	9.4.11	at the request of the Landlord to make or join in making such objections or representations in respect of any notice or order or proposal served under the Planning Acts as the Landlord may require. 

 

	 	9.4.12	 if the Tenant shall receive any compensation under the Planning Acts in respect of any restriction placed upon the user of the Property then if and
when the Tenant’s interest in the Property shall be determined under the power of 

  
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re-entry herein contained the Tenant shall forthwith make such provision as is just and equitable for the Landlord to receive its due benefit from such compensation. 

 

	9	BUILDING CONTROL 

  

	 	10.1	to comply with the all provisions of the Building Control Act 1990 the Building Regulations 1991 the Building Control Regulations 1991 and any other regulations issued under the Building Control Act 1990 the Fire
Services Act 1981 and with all fire and safety regulations in respect of any works relating to the Property or any change of use of the Property and to furnish to the Landlord within two months of completion: 

 

	 	10.1.1	all fire safety certificates issued. 

  

	 	10.1.2	a certificate of opinion from a member of the Royal Institute of Architects in Ireland or such other architect or engineer reasonably satisfactory to the Landlord that all works (or change of use) comply with the
Planning Acts and Building Regulations and the provisions of this clause and that all such works (or change of use) have been carried out in substantial compliance with the plans lodged with the application for any fire safety certificate as amended
by any conditions imposed by the Building Control Authority. 

  

	11	ALIENATION 

 The Tenant covenants with the Landlord: 

 

	 	11.1.	not under any circumstances to assign, underlet, part with the possession use or occupation of or otherwise alienate the Property without the landlord’s consent (such consent not to be unreasonably withheld or
delayed). 

  

	 	11.2	not to assign transfer or underlet the whole of the Property without the consent of the Landlord such consent not to be unreasonably withheld or delayed where the Tenant has complied with the appropriate provisions of
clauses 11.3 – 11.11 but it shall be reasonable for the Landlord to withhold its consent to any such proposed assignment transfer or underletting if: 

  

	 	11.2.1	 the proposed assignee or sub-lessee or other person intends to alter the user of the Property or

  
 18 

	 	
part of it in a manner which would be prohibited under clause 7.1 unless the prior consent of the Landlord has been obtained to such change of use in accordance with Clause 7.1.

  

	 	11.2.2	the proposed change of user would substantially increase the insurance effected under clause 14.1. 

  

	 	11.2.3	in the case of a proposed underlease the Tenant fails to satisfy the Landlord that the provisions of this clause have been complied with. 

 

	 	11.3	to give to the Landlord all reasonable information concerning the proposed assignment or sub-lease and to procure that any assignee or sub-tenant enters into covenants with the Landlord to perform and observe all the
Tenant’s covenants and all the other conditions and provisions of this Lease during the residue of the Term. 

  

	 	11.4	to give to the Landlord all reasonable information concerning the proposed underletting or subletting and to procure that any undertenant or subtenant enters into a direct covenant with the Landlord to perform and
observe all the Tenant’s covenants (other than that for payment of the Rent reserved in this Lease) and all the other conditions and provisions of this Lease during the residue of the Term. 

 

	 	11.5	to obtain the Landlord’s consent to any such assignment, underletting or subletting in writing and to pay all reasonable and proper costs incurred by the Landlord (whether or not the proposed assignment or
underlease proceeds to completion) including the Landlord’s administrative and legal costs of and incidental to the proposed assignment or underlease. 

  

	 	11.6	on an assignment to a limited company it shall be reasonable for the Landlord to require that either a parent or associate company or at least two directors of the company or two other persons of standing acceptable to
the Landlord (such acceptance not to be unreasonably withheld) enter into covenants with the Landlord guaranteeing the performance and observance of the assignee of all the provisions of this Lease as follows: 

11.6.1 The Guarantor guarantees to and covenants with the Landlord named in this Lease and without the need for any express assignment to all
of its successors in title: 
  

	 	11.6.1.1	if the Tenant does not pay the Rent or any other sum due or other sum to pay the rent and other sum payable under this Lease in the manner and at the times herein specified and the expression “other sum”
includes (for example) any sum that the Tenant is ordered to pay in any proceedings arising out of this Lease or agrees to pay by way of settlement of those proceedings. 

  
 19 

	 	11.6.1.2	if the Tenant is in breach of any provision of this Lease to remedy that breach on demand and to indemnify and keep indemnified the Landlord from and against all Losses which the Landlord may suffer or incur as a result
(directly or indirectly) of any breach or non-observance by the Tenant of any of the provisions of this Lease. 

  

	 	11.6.1.3	in addition to the obligations set out in clauses 11.6.1.1 and 11.6.1.2 and if this Lease is disclaimed by the Tenant’s trustee in bankruptcy or liquidator: 

(a) to pay to the Landlord on demand an amount equal to the Rent and other sums of a recurring nature that would have been payable under this
Lease for the period beginning on the date of disclaimer and ending on the date upon which the Property is re-let or upon the expiry of the Term or upon the expiry of the period of one year beginning on the date of the disclaimer whichever is the
earlier. 
 (b) if requested by the Landlord within three months of disclaimer to take from the Landlord a lease of the Property from the
date of disclaimer for the residue of the Term at the Rent payable at the time of disclaimer and upon the same terms as those contained in this Lease with all provisions of a periodical nature (including for example those relating to review of the
Rent) expressed to apply on the dates that would have applied if this Lease had not been disclaimed. 
 (c) to pay the costs of the Landlord
incurred in relation to the disclaimer. 

  
 20 

 11.6.2 The obligations of the Guarantor set out in clause 11.6.1 will continue to apply
even if: 
  

	 	11.6.2.1.	the Landlord grants any time credit forbearance indulgence or concession at any time to the Tenant or fails to enforce payment of the Rent or any other sum due under this Lease or the performance of the terms of this
Lease. 

  

	 	11.6.2.2.	the Landlord grants any absolute or partial release of the Tenant or any compromise with the Tenant. 

  

	 	12.6.2.3.	any composition compromise release discharge arrangement waiver variation relinquishment or renewal of any security or right by the Tenant. 

 

	 	11.6.2.4.	the Landlord refuses to accept the Rent tendered when the Landlord was entitled (or would after the service of a notice be entitled) to re-enter the Property. 

 

	 	11.6.2.5.	the terms of this Lease are varied. 

  

	 	11.6.2.6.	a revised Rent has been agreed or determined in accordance with clause 4 of this Lease. 

  

	 	11.6.2.7.	there is any extension or renewal or holding over of the Term or other continued occupation of the Property by the Tenant. 

  

	 	11.6.2.8.	the Tenant surrenders part of the Property and where this happens the liability of the Guarantor under this Lease continues for the part of the Property not surrendered after making any necessary apportionment’s.

  

	 	11.6.2.9.	the Guarantor would have been released by any other event. 

  
 21 

	 	11.7.	Tenant’s Covenants 

 The Tenant covenants with the Landlord in relation to every
underlease or sublease to ensure that: 
  

	 	11.7.1.	it is granted at a rent at the then open market rent approved by the Landlord (such approval not to be unreasonably withheld) without any deduction whatsoever or the Rent payable hereunder at the time of the granting of
the underlease whichever is the higher. 

  

	 	11.7.2.	the rent is payable quarterly in advance on the same days when rent is payable under this Lease. 

  

	 	11.7.3	it contains the following provisions: 

  

	 	11.7.3.1.	the rent from time to time payable thereunder shall never be less than the rent from time to time payable hereunder. 

  

	 	11.7.3.2.	an unqualified covenant on the part of the underlessee or subtenant not to part with possession of the Property or any part of it or to permit another to occupy the Property or any part of it or to share the occupation
of the Property or any part of it or to hold the Property or any part of it in trust for another. 

  

	 	11.7.3.3	a covenant on the part of the underlessee or subtenant not to assign sublet or charge part of the Property. 

  

	 	11.7.3.4	covenant on the part of the underlessee or subtenant not to assign sublet or charge the whole of the Property without the previous consent in writing of the Landlord under this Lease and of the landlord.

  

	 	11.7.3.5	a provision prohibiting the undertenant or subtenant from parting with possession or permitting another to share or occupy or hold on trust for another the whole of the Property. 

 

	 	11.7.3.6	a condition or proviso under which the rent reserved by the underlease or sublease shall be reviewed at the same times and in the same manner as provided in this Lease. 

 

	 	11.7.3.7	covenants and conditions in the same terms as nearly as circumstances admit as those contained in this Lease. 

  
 22 

	 	11.7.3.8	a covenant prohibiting the undertenant or subtenant from doing or allowing any act or thing in relation to the Property inconsistent with or in breach of the provisions of this Lease. 

 

	 	11.7.3.9	a proviso for re-entry by the underlandlord on breach of any covenant by the undertenant or subtenant. 

  

	 	11.7.3.10	imposing in relation to any permitted assignment the same obligations for consent and registration with the Landlord as are in this Lease in relation to dispositions by the Tenant. 

 

	 	11.7.3.11	before any permitted underletting to procure that the undertenant or subtenant enters into covenants with the Landlord to the same effect as those required of an assignee or subtenant. 

 

	 	11.8.	in relation to any permitted underlease or sublease: 

  

	 	11.8.1.	to enforce the performance by every undertenant or subtenant of the provisions of the underlease or sublease and not at any time to waive any breach of the covenants or conditions on the part of the undertenant or
subtenant or assignee of any underlease nor (without the consent of the Landlord such consent not to be unreasonably withheld or delayed) to vary the terms of any underlease or sublease. 

 

	 	11.8.2.	not to agree any reviewed rent with the undertenant or subtenant without the approval of the Landlord such approval not to be unreasonably withheld. 

 

	 	11.8.3.	not to agree any appointment of a person as the third party determining the revised rent without the approval of the Landlord such approval not to be unreasonably withheld. 

 

	 	11.8.4.	to incorporate as part of its representations to that third party representations required by the Landlord. 

  
 23 

	 	11.8.5.	to give the Landlord details of every rent review within twenty-eight days of its outcome. 

  

	 	11.8.6	within fourteen days of any assignment charge underlease or other devolution relating to the Property the Tenant shall produce for registration with the Landlord’s solicitors a certified true copy of such
instrument or document. 

  

	 	11.9	Notwithstanding the terms of this clause 11, it is expressly agreed that the Tenant requires the consent of the Landlord to share possession of the Property with a subsidiary or holding company or subsidiary of the
holding company (as defined under Section 155 of the Companies Act 1963 – 2014). 

  

	12.	TENANT’S OTHER COVENANTS 

 The Tenant covenants with the Landlord: 

OUTGOINGS 
  

	 	12.1.	to pay and to indemnify the Landlord against all Outgoings that during the Term are charged assessed or imposed on the Property or on its owner Landlord lessee or occupier. 

UTILITIES 
  

	 	12.2.	where separate supplies are provided to the Property to pay the suppliers and to indemnify the Landlord against all charges for Utilities and other supplies consumed on the Property and to pay all equipment rents.

 STAMP DUTY AND VAT 
  

	 	12.3	Definitions: 

 12.3.1. “Landlord’s Option to Tax” means the Landlord’s
option to make a letting chargeable to VAT pursuant to Section 97(1) of the VAT Act; 
 12.3.2. “VAT”, Value added tax; 

12.3.3 “VAT Act”, the Value-Added Tax Consolidation Act 2010 and any regulations made in respect of VAT; 

 

	 	12.4.	The Landlord hereby exercises the Landlord’s Option to Tax this Letting. 

  
 24 

	 	12.5	The Tenant shall pay to the Landlord an amount equal to the VAT correctly chargeable in respect of this Letting and agrees to indemnify the Landlord against any VAT that may be chargeable on the Rent or arising from the
grant of this Lease or arising in respect of any other payment made by the Tenant under this Lease in addition to the Rent. 

  

	 	12.6	The Tenant shall pay to the Landlord the stamp duty payable on this Lease and any counterpart(s), such payment to be made on demand to the Landlord or to such person as the Landlord shall direct and to be accompanied by
a valid and subsisting tax registration number relating to the Tenant for the purposes of stamping the Lease (and its counterpart(s)) in accordance with the stamp duty legislation and regulations 

LANDLORD’S COSTS 
  

	 	12.4.	to pay the Landlord on an indemnity basis all fees charges costs and other expenses reasonably and properly incurred by the Landlord in relation to: 

 

	 	12.4.1.	every application made by the Tenant for consent whether it is granted refused offered subject to any qualification or withdrawn. 

  

	 	12.4.2.	the recovery of Rent or other sums due from the Tenant. 

  

	 	12.4.3.	enforcing or requiring the Tenant to remedy a breach of the provisions of this Lease. 

  

	 	12.4.4.	any steps taken in connection with the preparation and service of all notices and schedules relating to any breach of the Tenant’s covenants contained in this Lease where appropriate and necessary and whether
served during or after the expiry of the Term. 

  

	 	12.4.5	the preparation and service of a notice under Section 14 of the Conveyancing Act and Law of Property Act 1881 even if any right of re-entry or forfeiture has been waived by the Landlord or the Tenant has been
relieved under the provisions of that Act. 

  

	 	12.4.6	any other action taken at the request of or caused by the Tenant. 

  
 25 

 INDEMNITY 
  

	 	12.5.	to indemnify and keep the Landlord indemnified against all actions, proceedings, claims, demands, costs, losses, expenses, damages and liability resulting: 

 

	 	12.5.1	directly or indirectly from any breach by the Tenant of the provisions of this Lease. 

  

	 	12.5.1.2	the use of or works carried out on or to the Property by the Tenant or any person its actual implied authority during the term. 

  

	 	12.5.1.3.	any act neglect or default by the Tenant or any person on the property with its actual or implied authority. 

  

	 	12.5.2.	To effect and keep in force such public liability, employers liability and other policies of insurance (to the extent that such insurance cover is available) as may be necessary to cover the Tenant against any claim
arising under this covenant and to extend such policy or policies so that the Landlord is indemnified by the insurers in the same manner as the Tenant and whenever required to do so by the Landlord to produce to the Landlord the said policy or
policies together with satisfactory evidence that same is/are valid in subsisting and that all premiums due thereon have been paid. 

INTEREST ON ARREARS 
  

	 	12.6.	In the event that the Rent or any advance payment of service charge are not paid within fourteen days of its due date or in the event that any other sum payable under this Lease is not paid within fourteen days of
demand to pay interest on the amount due at the Prescribed Rate. 

  

	 	12.6.1.	to pay this interest from the due date to the date of payment (both before and after any judgment) calculated on a daily basis but nothing in this clause entitles the Tenant to withhold or delay any payment or affects
the rights of the Landlord in relation to non-payment. 

  
 26 

 ACCESS BY LANDLORD AND NOTICE OF REPAIR 

The Tenant covenants with the Landlord: 
  

	 	12.7.	to permit the Landlord (and any Superior Landlord) and all persons authorised by the Landlord with all necessary materials and appliances at all reasonable times and on reasonable notice in writing of not less than 48
hours (except in an emergency when no notice shall be required) to enter the Property: 

  

	 	12.7.1	to establish if the provisions of this Lease have been observed. 

  

	 	12.7.2	to exercise any right granted or reserved to the Landlord by this Lease. 

  

	 	12.7.3	for any purpose connected with the insurance of the Property review of the Rent or the renewal of this Lease. 

  

	 	12.7.4	to take schedules and inventories. 

  

	 	12.7.5	to view (and to open up floors and other parts of the Property where that is necessary) the condition of the Property the Building the Conducting Media and the Plant. 

 

	 	12.7.6	to alter or to install additional Conducting Media serving or to serve the Adjoining Premises. 

  

	 	12.7.7	to carry out the Services. 

  

	 	12.7.8	for any reasonable purpose connected with the management of the Estate. 

  

	 	12.7.9	to give the Tenant (or leave on the Property) a notice: 

  

	 	(a)	specifying any breach of covenant by the Tenant. 

  

	 	(b)	specifying any work carried out in breach of the provisions of this Lease. 

  

	 	(c)	 requiring the Tenant to immediately remedy the breach and to reinstate the 

  
 27 

	 	
Property and on receipt of the notice the Tenant shall immediately repair clean and redecorate the property or carry out other work as required by the notice. 

 

	 	12.7.10	to allow the Landlord and all persons authorised by the Landlord to enter the Property to carry out the work that is needed to comply with the notice and to pay to the Landlord the cost of doing so within fourteen days
of a written demand (which cost if unpaid shall be recoverable by the Landlord as liquidated damages) if: 

  

	 	(a)	within thirty days of service of the notice the Tenant has not begun and then continued the work referred to in the notice or 

  

	 	(b)	the Tenant fails to complete the work within sixty days of service of the notice or such extended period as may be appropriate having regard to the nature and extent of the breach 

AERIAL SIGNS AND ADVERTISEMENTS 
  

	 	12.8	not to erect any pole mast satellite dish or wire on the Property without the consent of the Landlord which consent shall not be unreasonably withheld or delayed. 

STATUTES NOTICES AND ORDERS 
  

	 	12.9	to comply at the Tenant’s own expense with every statute and any notice or order from a Competent Authority that relates to the Property activities carried out at the Property any substance or article on the
Property and whether applicable to the Tenant or the owner Landlord lessee or occupier of the Property. 

  

	 	12.9.1	if so required by the Landlord to produce immediately to the Landlord a copy of any permission notice order or proposal for a notice or order that is served on the Property or the Tenant and that relates to the matters
referred to in the preceding sub-clause. 

  

	 	12.9.2	at the request of the Landlord to make or join with the Landlord in making any reasonable objections or representations that the Landlord considers appropriate or otherwise contesting any proposal of a Competent
Authority that relates to or includes the Property. 

  
 28 

 EQUIPMENT 
  

	 	12.10	not to install or use on the Property any Equipment which causes noise or vibration detectable outside the Property or damage to the Property the Plant or the Conducting Media. 

 

	 	12.10.1	to keep all Equipment on the Property properly maintained and to renew all parts when recommended or necessary and to ensure that the Equipment is properly operated. 

ENCROACHMENTS 
  

	 	12.11	not to block-up darken obstruct obscure or enlarge any doorway passage corridor window ventilator grating or aperture in the Property or in any manner obscure any such grating window or opening giving light to or
otherwise intended for the benefit of the Adjoining Premises. 

  

	 	12.11.1	not to permit and to take all reasonable steps to prevent any encroachment or easement or any third party rights being made or enjoyed over the Property and to give notice to the Landlord immediately if any is
attempted. 

 EVIDENCE OF COMPLIANCE 
  

	 	12.13.	if required to produce to the Landlord such evidence as the Landlord may reasonably require to satisfy itself that the provisions of this Lease have been complied with. 

NUISANCE 
  

	 	12.14.1	not to do any act which may constitute a nuisance or which may cause inconvenience disturbance injury or annoyance to the Landlord or the occupiers of other parts of the Estate or the Adjoining Premises or any nearby
premises or cause damage to the Property or Adjoining Premises or other nearby premises. 

  

	 	12.14.2	to pay and to indemnify the Landlord against all reasonable costs charges and expenses which may be incurred by the Landlord or for which the Landlord may be held liable for the abatement of any nuisance on the
Property. 

  
 29 

 KEYHOLDERS 
  

	 	12.15	to ensure that at all times the Landlord is aware of the name home address and home telephone number of at least two keyholders of the Property. 

SALE OF REVERSION 
  

	 	12.16	to permit the Landlord its agents or any Superior Landlord at any time to fix and retain without interference on any suitable part or parts of the Property a notice or board indicating that an interest superior to this
Lease is available for sale and not to remove or obscure any such notice or board. 

  

	 	12.16.1	to permit at reasonable times upon forty-eight hours notice agents or prospective buyers of any interest superior to this Lease to view the Property without interruption (but so that no undue interference is caused to
the business of the Tenant) provided they are authorised by the Landlord or its agents. 

 RE-LETTING 

 

	 	12.17.	permit the Landlord or its agents at any time during the last twelve months of the Term to fix and retain without interference on any suitable part or parts of the Property a notice or board indicating that the Property
will be available for letting and not to remove or obscure any such notice or board: 

  

	 	12.17.1	to permit at reasonable times upon twenty-four hours notice all persons authorised by the Landlord or its agents to view the Property without interruption (but so that no undue interference is caused to the business of
the Tenant). 

 YIELD UP 
 12.18.
at the expiration or sooner determination of the Term quietly to yield up to the Landlord the Property with vacant 

  
 30 

 
possession together with all additions alterations and improvements to the Property and the Landlord’s fixtures and fittings decorated and repaired in accordance with and in the condition
required by the provisions of this Lease. At the expiration or early termination of the Lease, the Tenant shall be able to vacate the Property in ‘as is’ condition (i.e. the Tenant shall not be required to restore the Property to its
original prevailing condition) provided that the Tenant shall have the right to remove all movable partitions, workstations and equipment. 
  

	 	12.18.1	to give up all Keys of the Property to the Landlord. 

  

	 	12.18.2	to remove the Tenant’s or trade fixtures and fittings (if requested by the Landlord) and to make good immediately any damage caused by the removal. 

 

	 	12.18.3	to remove any moulding, sign, writing or painting of the name or business of the Tenant or occupiers. 

  

	 	12.18.4	to leave the Property in a presentable standard and good state of repair. 

 SUPERIOR LEASE  

 

	 	12.19.	to comply with all the covenants (other than for payment of rent) conditions and provisions contained in the Superior Lease or Leases. 

 

	13.	LANDLORD’S COVENANTS 

 The Landlord covenants with the Tenant: 

QUIET ENJOYMENT 
  

	 	13.1	That if the Tenant pays the Rent and observes and performs the covenants and conditions on its part contained in this Lease to permit the Tenant during the Term to hold the Property peaceably and without any
interruption by the Landlord or any person claiming under or in trust for the Landlord. 

 EXERCISING RIGHTS 

 

	 	13.2	in exercising the rights involving entry to the Property to cause as little damage as possible to the Property or as little inconvenience to the occupiers as is reasonably practicable and to make good without delay any
such damage which may be caused by such exercise. 

  
 31 

	14.	INSURANCE 

  

	 	14.1.	LANDLORD’S COVENANTS 

 The Landlord covenants with the Tenant: 

 

	 	14.1.1.	to insure and keep insured with an insurer of repute located in Ireland in the name of the Landlord. 

  

	 	14.1.2	the Estate (including the Property) and the Landlord’s fixtures and fittings against loss or damage caused by the insured risks in the full reinstatement costs thereof (to be determined from time to time by the
Landlord or his professional advisors) including: 

  

	 	14.1.3	Architect’s surveyors consultants and other professional fees (including value added tax thereon). 

  

	 	14.1.3.1	The cost of shoring, demolishing, site clearing and similar expense. 

  

	 	14.1.3.2	All stamp duty and other taxes or duties exigible on any building or like contract as may be entered into and all incidental expenses (including planning and building regulation fees) relevant to the reconstruction
reinstatement or repair of the Estate. 

  

	 	14.1.3.3	Such provision for inflation as the Landlord in its absolute discretion shall deem appropriate. 

  

	 	14.1.3.4	 The loss of rent and the service charge from time to time payable or reasonably estimated to be payable, under this Lease (taking account of any
review of the rent which may become due under this Lease) following loss or damage to the Estate by the insured risks, for four years or such longer period as the Landlord, may from time to time,

  
 32 

	 	
reasonably deem to be necessary, having regard to the likely period required for the rebuilding and for obtaining planning permission and any other consents, certificates and approvals in
connection with the reinstatement of the Estate. 

  

	 	14.1.3.5	The Property Owner’s, public, employers and other liability of the Landlord arising out of or in relation to the Estate. 

  

	 	14.1.3.6	Such other insurance as the Landlord may, in its discretion, from time to time deem necessary to effect. 

  

	 	14.1.4	at the request of the Tenant, the Landlord shall produce to the Tenant a copy or extract duly certified by the Landlord of the policy or policies of such insurance and a copy of the receipt for the last premium or (at
the Landlord’s option) reasonable evidence from the insurers of the terms of the insurance policy or policies and the fact that it is or they are subsisting and in effect. 

 

	 	14.1.5	to procure that the interest of the Tenant is noted or endorsed on the policy whenever this is permitted under the policy or alternatively to procure from the insurers a letter of waiver of subrogation rights.

  

	 	14.2	TENANT’S COVENANTS 

 The Tenant covenants with the Landlord: 

 

	 	14.2.1	to pay to the Landlord by way of additional rent without deduction within fourteen days of a demand and (if so demanded) in advance of the date of renewal sums equal to the Tenant’s share of premiums paid or to be
paid by the Landlord in compliance with its insurance obligations as set out in Clause 14.1.2.: 

  

	 	14.2,2	to give notice to the Landlord of any matters (whether existing or that arise during the Term) that a prudent insurer might treat as material in deciding whether or on what terms to insure or to continue to insure the
Property. 

  
 33 

	 	14.2.3	to comply with the requirements and recommendations of the Landlord, the Landlord’s insurer and the fire officer and of any Competent Authority (whether notified or directed to the Landlord and then the Tenant or
directly to the Tenant) in relation to fire and safety precautions affecting the Property. 

  

	 	14.2.4	to keep the Property supplied with equipment for the detection and fighting of fire and with the fire alarm equipment that the Landlord, the Landlord’s insurer or fire officer requires and such equipment shall be
open to inspection and to maintain this equipment in working order and to the satisfaction of the Landlord’s insurer or fire officer and to the reasonable satisfaction of the Landlord and at least once every twelve months to have this equipment
inspected by a competent person. 

  

	 	14.2.5	not to obstruct the access to any fire equipment or other safety equipment or the means of escape from the Property in the case of fire or other emergency or to lock any fire door while the Property is occupied.

  

	 	14.2.6	not to do or omit or suffer to be done or omitted anything that would cause any policy of insurance relating to the Property or the Estate or any Adjoining Property owned by the Landlord to become void or voidable
wholly or in part and if the Property is destroyed or damaged by a risk against which the Landlord has covenanted in this Lease to insure and the insurance money is wholly or partly irrecoverable by reason solely or in part of any act or omission of
the Tenant or anyone claiming title under the Tenant to pay to the Landlord the whole or where appropriate the irrecoverable part of the insurance money. 

  

	 	14.2.7	Subject to the Landlord furnishing the Tenant with a copy of any policy of insurance affected under Clause 14.1, to comply, at the Tenant’s own expense, with all the requirements under that policy and the
recommendations of the insurers relating to the Property. 

  
 34 

	 	14.2.8	not to do or omit or suffer to be done or omitted anything whereby any abnormal or loaded premium may become payable unless the Tenant has previously notified the Landlord and agreed to pay the increased premium and the
Tenant shall on demand, pay to the Landlord all expenses incurred by the Landlord in renewing any such policy. 

  

	 	14.2.9	not to bring keep in or on or store on the Property any article or thing which is or might become dangerous, offensive, explosive or unduly combustible or inflammable, radioactive or which might unduly increase the risk
of fire or explosion. 

  

	 	14.2.10	to give notice to the Landlord immediately any event happens against which the Landlord may have insured under this Lease. 

  

	 	14.2.11	if the Tenant is entitled to the benefit of any insurance in relation to the Property to apply all money in making good the loss for which it is received. 

 

	 	14.2.12	to do nothing to prejudice any claim made by the Landlord or to prevent or impede any reinstatement being carried out by the Landlord under clause 14.4. 

 

	 	14.2.13	to pay to the Landlord on demand such sum as may be determined by the Landlord’s Surveyor as a reasonable estimate of the Tenant’s share of the costs and expenses incurred by the Landlord in having the
Property re-valued from time to time for insurance purposes. 

  

	 	14.2.14	to insure and keep insured the plate glass (if any) in the Property in the name of the Landlord and the Tenant with a reputable insurance company against breakage or damage for its full reinstatement cost and when
required to produce to the Landlord particulars of this insurance and evidence of payment of the premium and to reinstate any plate glass that is broken or damaged with new glass of no less quality or thickness. 

  
 35 

	 	14.3	Suspension of Rent  

  

	 	14.3.1.	In case the Property is destroyed or damaged by any of the Insured Risks so as to render same unfit for use and occupation and provided the insurance has not been vitiated nor payment of any insurance monies refused by
reason of any act or default of the Tenant, any undertenant or any person under its or their control, then the rent and the service charge payable under this Lease or a fair proportion thereof, according to the nature and extent of the damage
sustained, shall be suspended for a period of not more than three years from the date of the damage or destruction or until the Property or the part thereof destroyed or damaged shall be again rendered fit for use and occupation and accessible by
the Tenant and any dispute concerning the provisions of this clause shall be determined by a single arbitrator to be appointed, in default of agreement, upon the application of either party, by or on behalf of the President or Acting President for
the time being of the Society of Chartered Surveyors in accordance with the provisions of the Arbitration Acts 1954 and 2010. 

  

	 	14.3.2.	When the preceding clause applies for part of a quarter and the Rent for that quarter has already been paid in advance the Landlord shall refund to the Tenant the proportion of the Rent (apportioned on a daily basis)
attributable to the period during which the preceding clause applied. 

  

	 	14.4	Reinstatement 

  

	 	14.4.1	If the Property or any part thereof is destroyed or damaged by any of the Insured Risks so as to render the Property unfit for use and occupation then unless payment of any of the insurance monies is refused by reason
of any acts or default of the Tenant, any undertenant or any person under its or their control. 

  

	 	14.4.2	Subject to the Landlord being able to obtain any necessary planning permission and other necessary licences, certificates, approvals and consents (which the Landlord shall use its reasonable endeavours to obtain).

  
 36 

	 	14.4.3	Subject to the necessary labour and materials being and remaining available (which the Landlord shall use its reasonable endeavours to obtain as soon as practicable) and subject to the exercise of the right to terminate
the Lease under this clause. 

  

	 	14.4.4	The Landlord shall as soon as possible lay out the proceeds of insurance affected under Clause 14.1. in rebuilding and reinstating the Property or the part or parts thereof so destroyed or damaged, substantially as same
was prior to any such destruction or damage (but not so as to provide accommodation identical in layout and manner or method of construction if it would not be reasonably practicable to do so). 

 

	 	14.4.5	If the Landlord is prevented (for any reason other than its act or default) from compliance with the previous provisions of this clause the following provisions apply. 

 

	 	14.4.6	The Landlord is relieved of its obligation to reinstate and is solely entitled to all insurance monies. 

  

	 	14.4.7	If the prevention continues for three years and the Lease is not otherwise terminated, the Landlord or the Tenant may at any time after expiry of that period by not less than three months written notice given to the
other party determine this Lease, but without prejudice to any claim by either party against the other in respect of any antecedent breach of its terms. 

For the purposes of this clause “Property” do not include (unless otherwise specified by the Landlord) any additions alterations or
improvements carried out or being carried out by the Tenant. 
  

	15	SERVICES AND SERVICE CHARGE 

  

	 	15.1	Services 

 The Landlord covenants with the Tenant to provide, carry out or procure the
carrying out or provision of the following services. 

  
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	 	15.1.1	Maintaining repairing renewing replacing and cleaning (including painting and/or other decorative treatment and periodic cleaning and washing) the Common Areas including (without prejudice to the generality of the
foregoing) the Conduits. 

  

	 	15.1.2	Provide for such insurances as may reasonably be required in respect of loss or damage by the Insured Risks to the Common Areas and all installations, plant, tanks, conduits and equipment therein including insurance
claims by members of the public in respect of accidental injuries or losses occurring or in connection with any part of the Common Areas. 

  

	 	15.1.3	Lighting the Common Areas and including decorative lighting and flood-lighting and providing and maintaining communal signage. 

 

	 	15.1.4	The providing of such amenities and services as the Landlord is by law or by contract required to provide and/or shall be reasonable and proper to provide taking into account principles of good estate management
including (where appropriate) security measures, landscaped areas seating ornamental features and information signs. 

  

	 	15.1.5	The planting and maintaining of landscape features and grassed areas (if any) and the maintaining and repairing and replacement (when necessary) of any statuary or other decorative items and decorative lighting and flood-lighting. 

  

	 	15.1.6	Installing maintaining repairing and replacing the Estate Plant or other matters and things associated therewith within the Common Areas or for the benefit of the occupiers of the Estate generally. 

 

	 	15.1.7	The engagement or provision of management staff and such advisers and contractors as may be reasonably necessary for the efficient provision of the Services including a caretaker superintending staff maintenance and
cleaning staff. 

  

	 	15.1.8	 In respect of all persons employed for the purposes of carrying out the Services the paying

  
 38 

	 	
of all wages and PRSI Social Welfare and Insurance contributions and other payments required to be made by employers under any statute or other authority pensions or other payments and benefits
(whether or not ex gratia) uniforms and other necessary clothing equipment and materials and payments for accommodation including a notional rent (not exceeding current market rent) for any premises in the Estate or elsewhere provided rent free for
the residence of any such person or persons. 

  

	 	15.1.9.	The payment of all rates and other outgoings (whether or not of an annual or recurring nature) imposed or assessed on the Common Areas or any part thereof (whether on the owner or occupier) and all meter rents and
charges relating to the Common Areas. 

  

	 	15.1.10	The collecting storing incinerating or otherwise disposing of refuse including the provision maintaining repairing and replacing of refuse incinerators and/or compactors and suitable containers and other receptacles.

  

	 	15.1.11	Complying in respect of the Estate as a whole or in respect of the Common Areas with: 

  

	 	15.1.11.1	Any notice regulation or order of any competent authority and; 

  

	 	15.1.11.2	Any requirement of any present or future act of Parliament Order Bye-Law or regulation except where the same is the responsibility of a Tenant of any part of the Estate.

  

	 	15.1.11.3	The making and publishing of any regulations for or in connection with the proper use of the Estate and enforcement thereof. 

  

	 	15.1.11.4	 The carrying out of any reasonable and proper work for the improvement or maintenance of

  
 39 

	 	
the Common Areas and for the providing of services to the Common Areas. 

  

	 	15.1.11.5	The payment of all costs expenses and fees involved or resulting from the obtaining of professional advice whether from lawyers barristers surveyors (including all reinstatement valuations for insurance purposes)
architects engineers or other experts in respect of the Services and the costs included in making representations and taking necessary legal action either in respect of any planning applications notices or orders received in respect of or affecting
the Estate or in respect of any attempt to deny or obstruct any rights easements quasi easements or other privileges enjoyed or claimed to be enjoyed in respect of the Estate. 

 

	 	15.1.11.6	The cost of regularly inspecting the Building and the Estate to ensure that the same is in good order and condition and that the owners and occupiers of the Building have fully complied with their obligations and
covenants in respect thereof. 

  

	 	15.1.11.7	The keeping of accounts and management records and the preparing of the service accounts including the employment or engagement of Surveyors Accountants or other agents in connection therewith. 

 

	 	15.1.11.8	 The management of the Estate including the engagement of managing agents and the management fees thereof or (in the event that the Landlord’s
estates or property department manages the Estate) the Landlord’s 

  
 40 

	 	
management fees therefor and including for the avoidance of doubt the cost of collecting rent and of managing and arranging all of the services. 

 

	 	15.1.11.9	The provision at the Landlord’s option of such sinking or reserve fund as the Landlord shall deem fit with the right annually or at such other intervals as the Landlord may determine to review the sinking or
reserve fund with a view to allowing for all such additional further costs and expenditure as may be attributable to the differential in the value of money or inflation and/or other like trends as between one date and another and to allow for all
such amounts as may be determined on review in computing the contribution from time to time to the sinking or reserve fund provided however that this clause shall not impose upon the Landlord any obligation to provide for, if already established,
such sinking or reserve fund. 

  

	 	15.1.11.10	Any other service or undertakings which in the reasonable opinion of the Landlord or the Landlord’s Managing Agents are desirable for the comfort and convenience and promotion of the tenants of the Estate
generally. 

  

	 	15.1.11.11	Provide as the Landlord shall acting reasonably think fit a reception area/desk in the Ground Floor of Units A and B which will be manned during office hours by a porter/receptionist or such other person or persons as
the Landlord shall think necessary or desirable and pay them all proper salaries wages costs expenses and outgoings. 

  
 41 

 PROVIDED ALWAYS that the obligations of the Landlord contained or arising under this
Clause are subject to and conditional upon the Tenant contributing to the expenses of the Landlord in accordance with the covenants in that behalf contained at Clause 15.4.1. 
  

	 	15.2	Qualified nature of the Landlord’s covenants 

  

	 	15.2.1.	The Landlord shall not be liable to the Tenant in respect of any failure by the Landlord to perform any of its obligations in 15.1 unless and until the Tenant has notified the Landlord of such failure and the Landlord
has failed within a reasonable time to remedy the same and then in such case the Landlord (subject to the provisions of Clause 15.2.2. shall be liable to compensate the Tenant only for actual (but not consequential) loss or damage sustained by the
Tenant after such reasonable time has elapsed. 

  

	 	15.2.2	The Landlord shall not in any circumstances incur any liability for any failure or interruption of any of the services provided by the Landlord or for any inconvenience or injury to persons or property arising from such
failure or interruption due to mechanical breakdown, failure or malfunction, overhauling, maintenance, repair or replacement, strikes, labour disputes, shortages of labour or materials, inclement weather or any cause or circumstance beyond the
control of the Landlord but the Landlord shall use its reasonable endeavours to cause the service in question to be reinstated with the minimum of delay. 

  

	 	15.3	Definitions 

  

	 	15.3.1.	“Services” means the services set out in in clause 15.1. 

  

	 	15.3.2.	 “Service Costs” means the costs and expenses incurred by the Landlord in relation to the Services and may (at the discretion of the
Landlord) include a reasonable sum by way of provision for 

  
 42 

	 	
further expenditure on any of the services which the Landlord or its Managing Agents reasonably estimate will be expended in the following year after the end of the particular Accounting Period.

  

	 	15.3.3.	“Payment Dates” means the Gale Days in each Accounting Period. 

  

	 	15.3.4	“Accounting Period” means the year or part of a year ending on the 31st day of December or on such other date as may from time to time be fixed by
the Landlord as the period for calculating the service charge. 

  

	 	15.3.5	“Service Charge” means the Tenant’s share of the Service Costs which is based on the ratio which the gross internal floor area of the Property bears to the aggregate of the gross internal floor
area of all the Units. 

  

	 	15.4.	Payment of Service Charge 

  

	 	15.4.1.	The Tenant shall pay to the Landlord the Service Charge without any deduction or set-off by equal quarterly payments on the Payment Dates (this sum to be treated as rent). 

 

	 	15.4.2	The Landlord shall on or before the commencement of each Accounting Period (or resume thereafter as circumstances shall require or permit) supply the Tenant with a written statement specifying the Landlord’s
estimate of the likely amount of the Service Charge in respect of such Accounting Period. 

  

	 	15.4.3	 On each Payment Date the Tenant shall pay the amount as detailed in the specified aforesaid statement provided that if the Landlord has not supplied
the relevant statement then the Tenant will pending receipt of the same pay on each Payment Date the amount payable hereunder in the previous Accounting Period on each Payment Date. On such statement being issued the Tenant will on the next Payment
Date pay or be allowed as the case may be the difference between the total of any such 

  
 43 

	 	
payments which should have been made if the statement had been issued before the commencement of the Accounting Period. 

 

	 	15.4.4	The Landlord shall cause proper books of account to be kept in respect of the Service Costs of each Accounting Period. 

  

	 	15.4.5	The Landlord shall cause an account of the Service Costs to be taken as soon as practicable after the completion of each Accounting Period prepared and audited by a chartered accountant who shall certify the actual
Service Costs for the relevant Accounting Period and a copy of the audited accounts shall be served on the Tenant as soon as practicable with a statement from the Landlord or the Landlord’s Managing Agents as to the balance (if any) due to or
from the Tenant having regard to the payments already made on account. 

  

	 	15.4.6	Any balance due from the Tenant to the Landlord in respect of the Relevant Accounting Period shall be paid within 14 days of the service of the copy accounts and statement and any balance due from the Landlord to the
Tenant shall be allowed from the instalment of the service charge next due. 

  

	 	15.4.7	If during any Accounting Period which shall reasonably appear to the Landlord that by reason of unexpected expenses or liabilities the previous estimate of service costs likely to be exceeded then the Landlord may in
its absolute discretion serve on the Tenant a statement of such expenses and liabilities and proportion thereof due as to the service charge the consequences thereof and any such sums so required shall be paid by the Tenant within fourteen days of
the demand thereof. 

  

	 	15.4.8	A duly certified copy of any statement or certificate provided for by this clause shall be evidence for the purpose of this lease of the matters covered by such statement or certificate. 

  
 44 

	 	15.4.9	The Service Charge and any payments on account thereof shall be deemed to accrue from day to day. 

  

	 	15.4.10	The first payment of the Service Charge ending on the day before the next Gale Day is due on the date of this Lease. The provisions of this clause shall continue up to time of outstanding expiration or sooner
determination of the Term but only in respect of the period down to such expiration or sooner determination, service charge for that Accounting Period being apportioned to the said period on a daily basis. 

 

	15	FORFEITURE 

  

	 	16.1	A “Forfeiting Event” is any of the following: 

  

	 	16.1.1.	any Rent or any part of it is outstanding for twenty one days after becoming due whether formally demanded or not. 

  

	 	16.1.2.	any sum regarded as rent for the purposes of this Lease is outstanding for fourteen days after becoming due whether formally demanded or not. 

 

	 	16.1.3.	a breach by the Tenant of any of the provisions of this Lease. 

  

	 	16.1.4.	the Tenant being an individual or a corporation is Insolvent. 

  

	 	16.2	“Insolvent” for the purposes of this Lease means: 

  

	 	16.2.1	 If the Tenant being a company has a winding up petition presented against it or passes a winding up resolution (other than in connection with a
members voluntary winding up for the purposes of an amalgamation or reconstruction which has the prior written approval of the Landlord) or resolves to present its own winding up petition or is wound up (whether in Ireland or

  
 45 

	 	
elsewhere) or a Receiver and Manager is appointed in respect of the Property or any part thereof or of the Tenant, or 

 

	 	16.2.2	If the Tenant being an individual (or if more than one individual, then any one of them) has a bankruptcy petition presented against him or is adjudged bankrupt (whether in Ireland or elsewhere) or suffers any distress
or execution to be levied on the Property or enters into composition with its creditors or shall have a receiving order made against him. 

  

	 	16.3	Whenever a Forfeiting Event exists the Landlord or any person or persons authorised by the Landlord may without prejudice to any other right remedy or power herein contained or otherwise available to the Landlord
re-enter the Property (or any part of it) and thereupon the Term absolutely ceases and determines, but without prejudice to any rights or remedies which may then have accrued to the Landlord against the Tenant in respect of any antecedent breach of
any of the covenants and conditions contained in this lease. 

  

	17	Miscellaneous 

  

	 	17.1.	Representations 

 The Tenant acknowledges that it has not entered into this Lease in
reliance wholly or partly on any statement or representation made by or on behalf of the Landlord. 
  

	 	17.1	Exclusion of Use Warranty 

 Nothing in this Lease or in any consent granted or approval
given by the Landlord under it implies or warrants that the Property or any part of it may be used under the Planning Acts for the purpose herein authorised or any purpose subsequently authorised and the Tenant hereby acknowledges that the Landlord
has not given or made at any time any representation or warranty that any such use is or will be or will remain a permitted use under those Acts. 

  
 46 

	 	17.2	Disputes with Adjoining Owners 

 If any dispute relating to the Property arises between
the Tenant and the occupiers of Adjoining Premises it will be determined by the Landlord’s Surveyor. 
  

	 	17.3	Covenants relating to Adjoining Premises 

 Nothing contained in or implied by this Lease
gives the Tenant the benefit of or the right to enforce or to prevent the release or modification of any covenant agreement or condition entered into by any tenant of the Landlord in respect of any Adjoining Premises. 

 

	 	17.3	Effect of Waiver 

 Each of the Tenant’s covenants shall remain in full force both
at law and in equity notwithstanding that the Landlord may have appeared to have waived or released temporarily any such covenant, or waived or released temporarily or permanently, revocably or irrevocably a similar covenant affecting other property
belonging to the Landlord. 
  

	 	17.4	Rights and Easements 

  

	 	17.4.1	The Tenant will not during the Term acquire or become entitled to any easement over any Adjoining Premises. 

  

	 	17.4.2	Any easement exercised over any Adjoining Premises will be regarded as being exercised by virtue of a determinable licence from the Landlord. 

 

	 	17.5	Closure of Property in Emergency 

 The Landlord may close the Property or any part of it
in an emergency where the Landlord considers such action reasonably necessary for the safety of a person or property in the Property and the rent and the service charge payable under this Lease or a fair proportion thereof, according to the nature
and extent of the closure, shall be suspended from the date of the closure until the Property or the part thereof shall be reopened and accessible by the Tenant and any dispute concerning the provisions of this clause shall be determined by a single
arbitrator to be appointed, in default of agreement, upon the application of either party, by or on behalf of the President or Acting 

  
 47 

 
President for the time being of the Society of Chartered Surveyors in accordance with the provisions of the Arbitration Acts 1954 and 2010. 

 

	 	17.6	Extension of Term 

 If after the expiry of the Term there is a period of holding over
extension or continuance (whether by agreement or operation of law): 
  

	 	17.6.1	the provisions of this Lease will apply to that period and the expression “Term” will be construed accordingly. 

  

	 	17.6.2	all obligations of a periodical nature will apply at the same intervals as those specified in this Lease. 

  

	 	17.7	Landlord’s Surveyor 

 Whenever the Lease provides for questions to be referred to
or issues to be determined by the Landlord’s Surveyor: 
  

	 	17.7.1	the term “in the absence of agreement” means in the absence of agreement between the Landlord and the Tenant and does not require the agreement of the Guarantor to have been sought. 

 

	 	17.7.2	in making his determination he will be acting as an expert and not as an arbitrator and the determination will be final and conclusive. 

 

	 	17.7.3	his fees and disbursements for making the determination will be paid as he directs as being fair and reasonable in the light of his determination having regard to the nature of the dispute. 

 

	 	17.7.4	he must be an Associate or Fellow of the Royal Institution of Chartered Surveyors (Republic of Ireland branch) or the Irish Auctioneers and Valuers Institute. 

 

	 	17.7.5	he must not be an employee of the Landlord or a company within the Landlord’s Group or a partner or employee of the managing agents. 

  
 48 

	 	17.8	Tenant’s Possessions 

 If after the Tenant has vacated the Property on the expiry
of the Term any of the Tenant’s possessions remain on the Property and the Tenant fails to remove them within fourteen days after being notified in writing by the Landlord to do so. 

 

	 	17.8.1	the Landlord may as the agent of the Tenant sell the possessions and the Tenant indemnifies the Landlord against any liability incurred by it to any third party whose possessions have been sold by the Landlord in the
mistaken belief (which will be presumed) that the possessions belonged to the Tenant. 

  

	 	17.8.2	The Tenant will be responsible for and will indemnify the Landlord against any damage caused to the Property by the possessions and any Losses suffered by the Landlord as a result of the presence of the possessions on
the Property after the Tenant has vacated the Property on the expiry of the Term. 

  

	 	17.12.	Tenants Option to Determine 

 The Tenant may terminate this Lease as of the 15 July
2017 (“the Option Date”) subject strictly to the following terms and conditions: 
 The Tenant shall serve on the Landlord a
notice in writing exercising the said right (“the Notice”) at least six months prior to the expiry of the Option Date and in this regard time shall be of the essence. 

The Tenant shall continue to be responsible for rent and all Outgoings payable on foot of this Lease up to the Option Date. 

  
 49 

 The Tenant shall on or prior to the Option Date deliver to the Landlord the original of this
Lease, together with all related title documentation and shall as beneficial owner deliver duly executed and stamped a transfer or surrender of this lease and (if applicable) shall procure the cancellation of its registration in the Land Registry.

 Any such termination shall be without prejudice to any antecedent breach by either the Landlord or Tenant of any of their respective
covenants herein contained. 
 In the event of the Tenant who first entered into this Lease assigning it with the Landlord’s consent to
a third party the provisions contained in this clause shall not apply to such third party or any subsequent successors in title thereto. 

The Tenant paying to the Landlord all VAT (if any) arising on the surrender or termination of this Lease provided that a valid VAT invoice is
furnished by the Landlord to the Tenant at least 21 days prior to the Option Date. 
  

	18.	GUARANTEE 

  

	18.1	The Guarantor in consideration of the demise hereinbefore contained having been made at his/its request hereby covenants with the Landlord that the Tenant will pay the rents and other contributions hereby reserved on
the days and in manner aforesaid and will perform and observe all the Tenant’s covenants hereinbefore contained and that in case of default in such payment of rents and other contributions or in the performance or observance of such covenants
as aforesaid the Guarantor will pay and make good to the Landlord on demand all losses damages costs and expenses thereby arising or incurred by the Landlord PROVIDED ALWAYS and it is hereby agreed that: 

 

	18.1.1.	any neglect or forbearance of the Landlord in endeavouring to obtain payment of the rents service charge and other contributions hereby reserved when the same become payable or to enforce performance of the several
stipulations herein on the Tenant’s part contained; or 

  

	18.1.2	any variation or waiver of or addition to the terms of this Lease or any of them agreed by the Landlord and the Tenant; or 

  

	18.1.3.	any legal limitation immunity disability incapacity, occurrence of insolvency or the winding up of the Tenant; or 

  

	18.1.4.	any time which may be given to the Tenant by the Landlord shall not release or exonerate or in any way affect the liability of the Guarantor under this covenant. 

  
 50 

	18.2.	In the event of the Tenant (being a company) during the Term entering into liquidation whether compulsory or voluntary and the liquidator in such liquidation disclaiming this Lease or in the event of the Tenant (being
an individual) becoming bankrupt and the Assignee or Assignees in bankruptcy disclaiming this Lease or if this Lease shall be forfeited then in either such event the Guarantor hereby covenants with the Landlord that the Guarantor will at the request
of the Landlord and the cost of the Guarantor forthwith accept from the Landlord a Lease of the Demised Premises for a term equal in duration to the residue remaining unexpired of the Term at the time of the disclaimer or forfeiture such Lease to
contain the same Landlord’s and Tenant’s covenants respectively and the same provisos and conditions in all respects (including the provisos for re-entry) as are herein contained and such Lease and the rights and liabilities thereunder to
take effect from the date of disclaimer or forfeiture (as the case may be). 

  

	19.	NOTICES 

  

	19.1	Any demand or notice required to be made, given to us served on the Tenant/ Guarantor under this Lease shall be duly and validly made, given or served if addressed to the Tenant / Guarantor (or if the Tenant/ Guarantor
comprises more than one person than to any of them) and delivered personally or sent by prepaid registered or recorded delivery mail or sent by telex or telegraphic facsimile transmission addressed (in the case of a company) to its registered office
or (whether a company or individual) to its last known address or to the property. 

  

	19.2	Any notice required to be given or served on the Landlord shall be duly and validly given or served if sent by prepaid registered or recorded delivery mail, or sent by telex telegraphic facsimile transmission addressed
to the Landlord at his registered office and in the case of an individual at his last known address. 

  

	20.	Interpretation 

 In this Lease: 

20.1 “Adjoining Premises” means any land and buildings adjoining or neighbouring the property. 

  
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 20.2 “Base Rate” means the rate per centum per annum which shall equal the annual rate
of interest for the time being chargeable under Section 22 of the Courts Act 1981 (or any other rate of interest payable on judgments under any statutory modification or re-enactment thereof as may for the time being be in force). 

20.3 “Competent Authority” includes a government department any local regulatory public or other authority the fire officer or a
court of competent jurisdiction. 
 20.4 “Claim” includes any claim demand remedy suit injury damage loss cost liability action
proceeding right of action claim for compensation and claim for abatement of rent obligation. 
 20.5 “Cost” includes any cost
charge expense outgoing payment or other expenditure of any nature whatever including where appropriate all rates and all reasonable and proper legal fees. 

20.6 “Equipment” means all plant equipment machinery and apparatus used in the Property. 

20.7 “Guarantor” means each Guarantor (if any) named in this Lease and includes the executors and administrators or permitted assigns
of such person or persons or the successor or permitted assign of any corporate Guarantor. 
 20.8 “Keys” means keys, access cards
or other methods of access from time to time used for the Building or any part of the Property. 
 20.9 “this Lease” includes
(except where the contrary is indicated) this Lease as modified or varied from time to time and all annexures to it any document supplemental or collateral to this document or entered into in accordance with its terms. 

20.10 “Losses” includes all liabilities incurred by the Landlord all damage and loss suffered by it and all damages awarded against
it all claims demands actions and proceedings made or brought against it and all costs disbursements and expenses incurred by it. 
 20.11
“Outgoings” includes rates taxes assessments impositions duties levies charges and other outgoings of any type but excluding any tax imposed on the Landlord in respect of the receipt of Rent or other payment made by the Tenant under this
Lease or on any disposition or dealing with or the ownership of the reversion of this Lease. 

  
 52 

 20.12 “Plan” means the plan or plans annexed to this Lease. 

20.13 “Planning Acts” means the Local Government (Planning and Development) Acts, 1963 to 1999 and the Planning Act 2000 and any Act
or Acts for the time being in force amending extending or replacing the same and any Order Regulations or Directions issued under or by virtue of the said Acts for the time being in force. 

20.14 “Plant” means all apparatus plant machinery and equipment installed by the Landlord in the Property including (for example)
lifts lift shafts standby generators boilers items relating to mechanical ventilation heating and cooling and closed circuit television systems but not any equipment the maintenance of which is the direct responsibility of any tenant within the
Building. 
 20.15 “Prescribed Rate” means interest computed on a day to day basis at a rate per centum per month or part thereof
which shall exceed by one half per centum per month the monthly rate of interest for the time being chargeable under Section 680 of the T axes Consolidation Act 1999) (or such other monthly rate of interest as may from time to time be
chargeable upon arrears of tax). 
 20.16 “Redecorate” means to wash down the whole of the interior of the Property to clean and
treat all inside wood metalwork stonework and any other surfaces and finishes not requiring to be painted french polished or distempered in an appropriate manner and with appropriate materials of good quality and to treat as previously treated all
internal surfaces of the Property by paint whitewash colour wash distemper grain varnish french wax polish paper or otherwise redecorate in an appropriate manner and with appropriate materials of good quality. 

20.17 “Rent” means the Initial Rent or the rent agreed or determined under clause 4. 

20.18 “Superior Landlord” means any landlord entitled to any interest in the Property or any part of it which is superior to the
interest of the Landlord whether such superior interest be created prior to or subsequent to the grant of this Lease. 
 20.19
“Utilities” means electricity, gas, water, sewage, soils, telecommunications, and other services of whatsoever nature. 
 20.20
“VAT” means value added tax and any tax of a similar nature substituted for it or in addition to it. 

  
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 20.21 References: 

20.22 to a particular statute or part of it (“statutory reference”) include (except where the contrary is indicated) any relevant
derivative legislation and refer to that statutory reference as it may have been extended modified amended or re-enacted by the date upon which its construction is relevant for the purposes of this Lease and not as originally enacted or as at the
date of this Lease. 
 20.23 generally to “statute” or “statutes” include derivative legislation and any Regulation or
other legislation of the European Union that is directly applicable in the Republic of Ireland and include existing statutes and those that come into effect during the Term. 

20.24 to the expiry of the Term or to the last year of the Term are (subject to clause 17) to the end of the Term and the last year of the Term
however the Term comes to an end whether by effluxion of time or in any other way including (for example) determination by forfeiture. 

20.25 to any society institute or other professional body shall include any other body established from time to time in succession to or in
substitution for or carrying out the function formerly carried out by such society institute or other professional body. 
 20.26 to
“month” means calendar month. 
 20.27 whenever the Landlord or the Tenant consist of more than one person any covenant or
obligation of or to that party takes effect as joint and several covenants and obligations. 
 20.28 any consent of the Landlord must be in
writing and signed by or on its behalf if it is to be effective under this Lease. 
 20.29 wherever this Lease provides that the consent of
the Landlord is required it may be given subject to any necessary further consent being obtained from a Superior Landlord and it shall only be implied that this further consent may not be unreasonably withheld when this Lease expressly says so. 

20.30 any right of access to the Property granted to the Landlord by the provisions of this Lease shall be deemed to have been also given to
any Superior Landlord. 
 20.31 words importing one gender include all genders. 

  
 54 

 20.32 whenever this Lease provides for questions to be referred to or determinations to be made
by the Landlord’s Surveyor the provisions of clause 17.10 apply. 
 20.33 where in this Lease there are covenants by the Tenant which
restrict or forbid the Tenant from doing any act or thing or omitting to do any act or thing such covenants include an obligation not knowingly to allow or suffer that act or thing to be done. 

20.34 the headings in this Lease have been inserted for reference purposes only and are not to be taken into account in interpretation. 

  
 55 

	
	PRESENT when the common seal
	 of the LANDLORD
 was affixed hereto
and DELIVERED as a DEED

	
	 /s/ Gerard M. Merrick

	
	 /s/ Louise Merrick

 PRESENT when the common seal 

Of the TENANT 
 Was affixed hereto and DELIVERED as a
DEED 
  

	
	 /s/ James Travers

	Director
	
	 /s/ Stephen Lifshatz

	Director/Secretary

 PRESENT when the common seal 

Of the GUARANTOR 
 Was affixed hereto and DELIVERED as a
DEED 
  

	
	 /s/ James Travers

	Director
	
	 /s/ Stephen Lifshatz

	Director/Secretary

  
 56Exhibit

    
Confidential Trade Secret Information - Subject to Restricted Procedures                

Exhibit 10.05
AGREEMENT

AMENDMENT TO THE ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT BETWEEN SOUTH CAROLINA ELECTRIC & GAS COMPANY, FOR ITSELF AND AS AGENT FOR THE SOUTH CAROLINA PUBLIC SERVICE AUTHORITY AND A CONSORTIUM CONSISTING OF WESTINGHOUSE ELECTRIC COMPANY LLC AND STONE & WEBSTER, INC., FOR AP1000® NUCLEAR POWER PLANTS

THIS AMENDMENT (“October 2015 Amendment”) to the Engineering, Procurement and Construction Agreement dated May 23, 2008 ("EPC Agreement") for the AP1000 Power Plants at the Virgil C. Summer Nuclear Generating Station (“Project”) is entered into this 27th day of October 2015, by and between South Carolina Electric & Gas Company (“SCE&G”), for itself and as agent for the South Carolina Public Service Authority (“SCPSA”) (collectively “Owner”) and a consortium consisting of Westinghouse Electric Company LLC (“Westinghouse”) and CB&I Stone & Webster, Inc. (“Stone & Webster”) (collectively “Contractor”).  Owner and Contractor may be referred to individually as a “Party” and collectively as the “Parties.”

WHEREAS, Westinghouse has represented to Owner that it intends to acquire the stock of Stone & Webster from Chicago Bridge & Iron (“CB&I”) (the “Transaction”); that CB&I will have no further involvement in the Project except for certain supply agreements; and that Westinghouse intends to hire Fluor Corporation (“Fluor”) or its affiliate(s) as a subcontracted construction manager;

In consideration of the mutual promises herein and other good and valuable consideration, the receipt and sufficiency of which the Parties acknowledge, the Parties, intending to be legally bound, stipulate and agree as follows:

1.The Parties agree that this October 2015 Amendment will be a binding obligation between Owner and Westinghouse upon the approval of the boards of directors of both Owners and the authorization of the board of SCPSA for its management to execute the necessary documentation and the execution of those documents, which shall become effective upon the consummation of the Transaction (“Effective Time”), and in the event the Transaction is not consummated by March 31, 2016, this October 2015 Amendment shall be null and void in all respects.  Westinghouse shall cause its wholly owned subsidiary, Stone & Webster, to execute this October 2015 Amendment.

2. Contractor hereby grants Owner until November 1, 2016 (“Option Deadline”), the irrevocable option to exercise an agreement, subject to regulatory approvals, to amend the EPC Agreement by revising the Contract Price and other specific aspects of the EPC Agreement, as stated in the amendment that is attached as Exhibit D (“Option Amendment”). Contemporaneously with the execution of this October 2015 Amendment, Contractor will execute the Option Amendment. Thereafter, Owner may, in its sole discretion, implement the Option Amendment by executing it at any time on or before the Option Deadline. The Option Amendment will not take effect unless and until Owner executes the Option Amendment, before 

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the Option Deadline, and all conditions precedent to effectiveness stated in the Option Amendment are satisfied or waived by Owner. 

3. Owner agrees to pay Contractor the total sum of $300,000,000 (current year U.S. Dollars) and increase the Fixed Price Contract Price by said amount.  Further, Contractor agrees to provide Owner with a credit to the Target Price in the amount of $50,000,000 (current year U.S. Dollars).  The net $250,000,000 will be paid in twelve equal monthly installments beginning five days after the Effective Time.  In exchange, Owner and Contractor agree to a full resolution by settlement and release of any and all disputes outstanding under the EPC Agreement or otherwise concerning the Project as of the Effective Time, including the following:

a.Contractor claims for additional payments for any of the items on Exhibit A, as well as claims for additional payment for cyber security and the site layout phase 2 Change Order (Change Order 26).
b.Contractor claims for amounts referenced in letters no. VSP _ VSG_003111, VSP _ VSG_003115, VSP _ VSG_ 3145, VSP _ VSG_3502 and VSP _ VSG_3522, which totaled approximately $83,518,046 as of August 21, 2015, as set forth on Exhibit B.
c.Contractor claims for amounts in other cases in which the entitlement is in dispute, which totaled approximately $29,729,785 as of August 31, 2015, as set forth on Exhibit B.
d.Contractor claims for amounts in dispute due to billings that have been held because a Change Order has not been executed, which totaled approximately $5,565,845 as of August 31, 2015, as set forth on Exhibit B.
e.Contractor claims for all amounts in dispute in cases in which only the timing is disputed, which totaled approximately $110,190,504 as of August 31, 2015, as set forth on Exhibit B.
f.Contractor claims for the balance of 10% withheld by Owner in connection with certain invoices for which the Owner has only paid 90% because the Owner disputed the invoice
g.Owner claims for refunds in connection with invoiced amounts for which Owner has paid 90% of the invoiced amount and for which Owner had previously intended to seek a refund.
h.Owner claims arising out of the employee fuel expense audit and procurement irregularities. 
Subparagraphs a through h do not provide an exhaustive list of all claims, disputes, and amounts that are satisfied by this October 2015 Amendment, it being the Parties’ intent that all disputes outstanding under the EPC Agreement or concerning the Project as of the Effective Time are settled and resolved. By way of further clarifications, under this October 2015 Amendment, the Parties waive and settle any and all claims currently pending or threatened by either Party against the other Party and of any and all claims currently known or reasonably foreseeable by either Party against the other Party. Whether or not the Option Amendment becomes effective, all pending Change Orders, and formal and informal notices of potential Change Orders, including but not limited to those arising from Uncontrollable Circumstances and Changes in Law, are 

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hereby settled and resolved. Each Party represents and warrants to the other Party that it is not aware of the basis for any other claim against the other, including but not limited to those arising from Uncontrollable Circumstances and Changes in Law, and that it is not aware of any facts or circumstances that could be expected to give rise to a claim, the sole exceptions being those claims addressed in paragraph 4.  For the avoidance of doubt, in the event that the Option Amendment becomes effective, the $300,000,000 payment and the $50,000,000 credit to the Target Price set forth in this paragraph 3 will be part of (and not in addition to) the total Fixed Price amount of $6.082 billion set forth in the Option Amendment.

The Parties shall execute a mutual release effectuating the provisions of this paragraph 3.

4.Notwithstanding the foregoing, the Parties have identified on Exhibit C to this Amendment all work items that they contend are required or contemplated for the Project but that are not included within the release contained in paragraph 3.  Said work items are not resolved, settled or released under this October 2015 Amendment.  The Parties shall cooperate in good faith to resolve all such work items expeditiously so as to not impact the Project.  In the event a work item cannot be resolved, it shall be submitted to the Dispute Resolution Board as referenced in paragraphs 13 and 16.  Similarly, with respect to the cyber security item listed in Exhibit A, the Parties shall cooperate in good faith to resolve all issues relating to scope expeditiously.  Contractor acknowledges its obligation to commence and continue work in compliance with current NRC regulations on cyber security, pending issuance of a Change Order, so as not to impact the Project schedule, and its obligation to complete the Cyber Security work within the GSCDs stated in paragraph 6In the event a scope item cannot be resolved, it shall be submitted to the Dispute Resolution Board as referenced in paragraphs 13 and 16.  Except for the items on Exhibit C and the Time and Material Work set forth in paragraph 2 of the Option Agreement, the cyber security item listed in Exhibit A and without waiving its rights concerning unknown Changes under Article 9 of the EPC Agreement, Contractor is not aware of any additions to the Scope of Work that will be required for the Project to reach Substantial Completion.

5.The Contractor acknowledges and agrees that its Scope of Work includes providing Owner with a Facility that meets the standards of DCD Rev. 19. 

6.The Guaranteed Substantial Completion Dates (“GSCDs”) are revised, as follows: August 31, 2019 for Unit 2 and August 31, 2020 for Unit 3. The Standard Equipment Warranty Period(s) and the Services Warranty Period(s) shall commence upon Substantial Completion of each Unit at no additional cost to Owner.  To the extent a Change under Article 9 of the EPC Agreement adversely affects Contractor’s ability to achieve Substantial Completion as provided in this paragraph 6, Contractor shall be entitled to equitable adjustment of the EPC Agreement as appropriate.  

7.Section 13.1 of the EPC Agreement is revised to state that Delay Liquidated Damages for each Unit will commence on the applicable GSCDs stated in paragraph7, and will be computed as follows:

a.     For the first thirty (30) days following the GSCD: $200,000/day; and

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Confidential Trade Secret Information - Subject to Restricted Procedures                

b.     For the next thirty-one (31) to ninety (90) days: $300,000/day; and
c.         For the next ninety-one (91) to one hundred fifty (150) days: $ 400,000/day; and
		
	d.
	For the next one hundred fifty-one (151) to seven hundred thirty (730) days: $500,000/day; and

e.      Seven hundred thirty-one (731) days or beyond: $0/day.

8.The Parties agree to share the loss if either or both Units do not qualify for production tax credits under Federal law.  If a Unit is not “placed in service,” as that term is used in Section 45J of the Internal Revenue Code, before January 1, 2021, Contractor agrees to reimburse Owner by February 1, 2021, the sum of $250 million per Unit, expressed as a one-time lump sum payment.  For purposes of this paragraph, the January 1, 2021 date can only be extended for the following reasons (i) material actions or omissions of Owner that cause a Unit not to qualify for tax credits; or (ii) extension of the tax credit date by the U.S. government.  If Contractor becomes aware of any actions or omissions of Owner that Contractor believes may cause a Unit not to qualify for tax credits, Contractor shall provide Owner with reasonable notice of such actions or omissions.

9.The maximum amount paid by Contractor to Owner under paragraphs 7 and 8 above will be limited to $338 million per Unit, if the Option Amendment becomes effective.  In the event the Option Amendment does not become effective, the maximum amount paid by Contractor to Owner under paragraphs 7 and 8 above will be limited to $463 million per Unit.

10.Owner will pay Contractor an early completion bonus consisting of $150,000,000 per Unit for each Unit that is “placed in service,” as that term is used in Section 45J of the Internal Revenue Code, in advance of January 1, 2021, if the Option Amendment becomes effective.  In the event the Option Amendment does not become effective, Owner will pay Contractor an early completion bonus consisting of $275,000,000 per Unit for each Unit that is “placed in service,” as that term is used in Section 45J of the Internal Revenue Code, in advance of January 1, 2021.  For purposes of this paragraph, the January 1, 2021 date can only be extended for the following reasons (i) material actions or omissions of Owner that cause a Unit not to qualify for tax credits; or (ii) extension of the tax credit date by the U.S. government.  If Contractor become aware of any actions or omissions of Owner that Contractor believes may cause a Unit not to qualify for tax credits, Contractor shall provide Owner with reasonable notice of such actions or omissions.  

11.The Parties agree that no new Inspection, Tests, Analyses and Acceptance Criteria (“ITAACs”) have been issued or proposed as of the Effective Time that would affect the GCSDs or entitle the Contractor to a Change Order.

12.The Parties shall cooperate in good faith to develop a new milestone payment schedule (“Construction Milestone Payment Schedule”) to include all unpaid or overpaid amounts.  While such good faith efforts are ongoing, Owner agrees to make payments to Contractor in the amount of $100,000,000 per month for the first five (5) months following the Effective Time.  Said payments shall be in lieu of all payments for Fixed Price, Firm Price, Target Price and Time and Material Work.  Once developed, Contractor agrees that Owner is to make such payments to Contractor according to the Construction Milestone Payment Schedule, instead of the existing Payment Schedules.  If the Parties fail to agree to a Construction Milestone Payment Schedule by  the date that is six months from the Effective Time, the matter shall be referred to the Dispute 

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Resolution Board (“DRB”) process for resolution.  Unless otherwise agreed by the Parties, the DRB shall issue its report on the Construction Milestone Payment Schedule within sixty (60) days.  For the 60 day period during which the DRB is reviewing the Construction Milestone Payment Schedule, Owner shall pay the sum of $100,000,000 per month in lieu of all other payments, and such payments will be treated in the same manner as the payments referenced in paragraph 3. 

Contractor will continue to invoice Owner according to previous procedures (i.e. Contractor  will provide parallel invoices for Target, T&M, and Firm and Fixed Price categories) to enable calculation of the amount by which the payments described in paragraphs 3 and 12 exceed what would otherwise be due Contractor. After these advance payments cease, the excess or deficit portion of such advance payments shall be adjusted against future invoices submitted by Contractor to Owner under the EPC Agreement, at the Owner’s sole discretion.  Actual payments will be trued up to parallel invoices in months 6, 12 or when the Option Amendment becomes effective.  

In the event that the Option Amendment is exercised and takes effect, the actual payments made under paragraphs 3 and 12 will be deducted from the amount referenced in section 1 of the Option Amendment.  If the Option Amendment does not take effect, billing procedures for Target and T&M Work scopes will revert back to the EPC Agreement terms, as amended, incorporating the adjusted terms in paragraph 3 above, and Firm Price and Fixed Price scopes will continue to be billed based on the Construction Milestone Payment Schedule.  For the avoidance of doubt, the cash flows of the Construction Milestone Payment Schedule will be reduced to reflect the lower amounts remaining in the Fixed Price and Firm Price categories as defined in Exhibit H of the EPC Agreement.

13.Within ten (10) days of establishing the Construction Milestone Payment Schedule,  Owner shall advance a deposit of seventy-five million dollars ($75,000,000) with the Contractor.

		
	a.
	After the deposit is made, Owners will not be obligated to pay to Contractor the disputed portion of any invoiced amounts submitted by Contractor to Owners.

		
	b.
	The Parties shall revise the dispute resolution procedures in Article 27 of the EPC Agreement to eliminate the requirement or ability to institute litigation during the course of the Project absent a suspension or termination of the EPC Agreement.

		
	c.
	The Parties shall establish a DRB process for the interim, non-final resolution of disputes, as described more fully in paragraph 16 below and Exhibit E.

		
	d.
	Owner agrees to make payment to Contractor within thirty (30) days of any award entered in favor of Contractor by the DRB.

		
	e.
	At Project completion, the deposit amount of $75,000,000 shall be credited against Owner’s final milestone payment owed Contractor.

14.The definition of “Change in Law” in the EPC Agreement is modified so that a Change in Law occurs only in case of (a) the formal written adoption by a Government Authority of a new statute, regulation, requirement or code that did not exist as of the date of the October 2015 Amendment; or (b) where the NRC is the involved Government Authority, the NRC’s official issuance or promulgation, after the date of the October 2015 Amendment, of a final and official 

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version of Regulatory Guides (NUREGs), Branch Technical Positions, Standard Review Plans, Interim Staff Guidance, Bulletins, Orders, or written directives, in which NRC acknowledges a new regulatory requirement or a change to an existing requirement that did not apply before the date of the October 2015 Amendment.  Where Contractor cannot demonstrate a Change in Law under this paragraph, Contractor shall also be precluded from claiming that the purported Change in Law is an Uncontrollable Circumstance.

15.The Parties agree to participate in meetings with the Nuclear Regulatory Commission ("NRC") and develop strategies in an effort to alleviate issues that have arisen due to the NRC's inspections at the Project, while still affording the NRC the ability to conduct appropriate inspections. Owner cannot agree in advance to adopt the Contractor’s position on every issue, but Owner will work with Contractor in good faith.   In the event the Option becomes effective, Owner shall have no obligation to pay Contractor for regulatory support associated with License Amendment Requests or ITAACs, except those that arise due to a Change.  In the event the Option Amendment does not become effective, such matters shall be submitted to the DRB process established pursuant to this October 2015 Amendment.  For the period of time between the Effective Time and the Option Deadline, the Parties agree to suspend the DRB process for matters relating to regulatory support associated with License Amendment Requests and ITAACs. In the event the Option Amendment does not become effective, the suspended DRB matters will be administered.  If the Option becomes effective, those matters suspended by the preceding sentence shall be deemed to be included in the Fixed Price.

16.Consistent with paragraph 13 above, Article 27 of the EPC Agreement is revised to eliminate the requirement or ability to bring suit during the course of the Project. The Parties agree to empanel a DRB for the interim, non-final resolution of disputes in accordance with the Dispute Resolution Agreement that is attached as Exhibit E.

17.Owner hereby waives and cancels the Chicago Bridge & Iron Parent Company Guaranty.  Owner agrees that Contractor shall be relieved of any obligation to furnish a parent company guaranty on behalf of S&W under the EPC Agreement. Owner and CB&I shall execute a mutual release of all claims relating to the EPC Agreement, the Project, the S&W Parent Guarantee and the CB&I Guarantee.

18.The Parties agree to hold a face-to-face meeting among Owner, Westinghouse, the President and Chief Executive Officer of Power Systems Company, and Mr. Shiga Shigenori, the Representative Executive Officer and Corporate Senior Executive Vice President of Toshiba Corporation (or his successor) to allow Owner to describe its concerns with the Project to date and to discuss Toshiba's commitment to completing the Project and to the terms of this Agreement.  In addition, at Owner’s option, Toshiba, Owner, Contractor, and Fluor will hold quarterly meetings to discuss Project progress.

19.Contractor's profit on any future Change Orders under the EPC Agreement shall be capped at 7 3⁄4%.

20.The Parties agree that Article 13.3 is deleted from the EPC Agreement.

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21.The provisions of Section 8.6(d) of the EPC Agreement are revised to provide that SCE&G or Santee Cooper shall not be required to furnish Contractor with an irrevocable, standby letter of credit, provided the Credit Rating of SCE&G or Santee Cooper, as applicable, remains at or above investment grade (Standard and Poor’s BBB-; Moody’s Baa3).  If the Credit Rating of SCE&G or Santee Cooper falls below investment grade, Contractor may request the letter of credit, and SCE&G or Santee Cooper must furnish the letter of credit at no expense to Contractor.

22.The Parties agree to cooperate with respect to the involvement of Owner’s Project consultant and/or Owner’s Engineer with the work scheduled to be done by Owner’s consultant.

		
	a.
	Contractor shall carefully consider all matters raised by the consultant, however the consultant shall have no authority to direct the Work of Contactor. 

		
	b.
	Contractor agrees to provide the consultant with access to relevant documents reasonably requested by the consultant, provided such documents are necessary for the consultant to complete its work for Owners. 

		
	c.
	For relevant documents provided under subparagraph (b) above, Contractor may provide confidential and proprietary documents in redacted form, including redaction of any pricing information.  Contractor will provide unredacted documents to the consultant, provided Contractor determines in its reasonable discretion that it is given suitable protections from Owners and/or the consultant against misuse or further disclosure of such documents.

23.Contractor acknowledges Owner’s right to discuss any and all operational and project execution issues with the Vogtle owners.  Owner is not permitted to disclose to the Vogtle owners information relating to any disputes, commercial issues or the terms and conditions of this agreement and any related documents or agreements.

24.All capitalized terms in this October 2015 Amendment, except for those defined in this October 2015 Amendment, shall have the meanings given to them in the EPC Agreement.

25.All provisions of the EPC Agreement not modified, expressly or by necessary implication, remain in full force and effect.  All Exhibit references are to this October 2015 Amendment.

26.While the Parties acknowledge the existence of various confidentiality agreements between themselves, they also recognize that certain disclosures must be made to satisfy various securities laws and for regulatory purposes.  Each Party is free to make such disclosures as it deems prudent, but the disclosing Party must provide a copy of any intended written disclosure to the other Parties before such disclosure is made.

27.Upon execution of this October 2015 Amendment, Contractor will provide written details of its relationship and structure with Fluor, including a scope of work description, sufficient to allow the Owner to understand the roles and responsibilities of Fluor on the Project.  In the event of a material change in the relationship, structure, or scope, Contractor will provide details of the 

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change. In the event the Option Amendment does not become effective, Contractor shall submit construction related billings consistent with the existing provisions of the EPC Agreement.   

28.To the extent not prohibited by its existing contracts, Contractor agrees to afford Owner and Owner’s consultant access to its facilities and those of its suppliers and subcontractors at any tier, for the purpose of completing Owner’s consultant’s assessment and monitoring of the Project and the Project Schedule.

29.In the form of Exhibit F, Contractors will provide written consent of Toshiba Corporation to this October 2015 Agreement, affirming that the corporate guaranty of Toshiba remains in place, notwithstanding  this October 2015 Agreement.  This signed exhibit must be provided to Owner’s prior to the Effective Time.

[Balance of Page Intentionally Blank]

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IN WITNESS WHEREOF, the Parties have duly executed this October 2015 Amendment to the EPC Agreement as of the date first above written, with Toshiba Corporation, as the parent corporation of Westinghouse, indicating its express consent hereto.

SOUTH CAROLINA ELECTRIC & GAS
COMPANY, for itself and as agent for South
Carolina Public Service Authority
	
		
	By:
	/s/Kevin B. Marsh

	Name:
	Kevin B. Marsh

	Title:
	Chairman & CEO

	
				
	WESTINGHOUSE ELECTRIC COMPANY LLC  
	STONE & WEBSTER, INC.

	By:
	/s/Danny Roderick
	By:
	 

	Name:
	Danny Roderick
	Name:
	 

	Title:
	President & Chief Executive Officer
	Title:
	 

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	Exhibit A

	 
	 
	 
	 

	Count
	Issue
	Issue Description
	Deliverable

	29
	

CAS and PRS Support
	

Primarily due to delayed design completion, the simulators delivered by the Consortium (intended to be PRSs) to the Owner do not have the functionality to support being certified by the Nuclear Regulatory Commission. As a result, the Owner has had to pursue the CAS alternative due primarily to repeated delays in ISV testing by the Consortium, which have most recently impacted the completion of ISV testing in time to support the Owner NRC exams that had been scheduled to occur in May
2015.  This issue puts at risk the Owner’s ability to train and certify operators in time to support Units 2 and 3 fuel loads.
	

(1) At no additional cost to Owner, Westinghouse to provide a Commission Approved Simulator to include: All fixes as identified to support a successful CAS implementation (fixes delivered, support to install, and fixes to fixes as necessary); End state deliverable is a simulator ready and capable of conducting license operator exams

(2) If CAS is unsuccessful, at no additional cost to Owner, WEC to provide: All ISV/HEDs (Priority 1 and 2 ) fixed and included in a baseline 7+ simulator capable of closing the ISV ITAAC by June 2017; The HFE/ISV ITAAC should be closed such that we can answer the question in the NRC Inspection Procedure IP41502 for PRS “Is the ISV ITAAC closed?” Yes; The simulator must be delivered to site by June 2017; Success will be measured by successful completion of Inspection Procedure 41502 by NRC Region II resulting in us having a PRS

(3) If CAS is successful, at no additional cost to Owner, Westinghouse to provide: All ISV/HEDs (Priority 1 and 2 ) fixed and included in a baseline 8 simulator capable of closing the ISV ITAAC by Mar 2018; The HFE/ISV ITAAC should be closed such that we can answer the question in the NRC Inspection Procedure IP41502 for PRS “Is the ISV ITAAC closed?” Yes; The simulator must be delivered to site by March 2018; Success will be measured by successful completion of Inspection Procedure 41502 by NRC Region II resulting in us having a PRS.

(4) Commercially, CAS, CAS fixes and BL7+ ITAAC closure (if necessary) is all part of completion of ISV and delivery of a BL7 simulator and as such is already a paid for deliverable. As part of that, the BL8 Fuel Load baseline should be considered the deliverable for CO #19.

	30
	

Design Basis Assessments (5 included in the scope)
	

Licensing and Regulatory compliance reviews of high risk portions of the AP1000 design is to uncover License and Regulatory noncompliance issues prior to Construction to preclude delays to Project completion similar to those encountered during construction of the Nuclear Island basemat in 2012. The results of these reviews have uncovered License noncompliance issues including Tier 1 and Tier 2* issues and successfully mitigated them through a Licensing or design change without adverse impact to the Project schedules. It is likely that these items would not have been uncovered prior to Construction without the undertaking of these reviews. It is also likely that, if these items were uncovered after Construction had commenced, work delays of multiple months would have been experienced while the issues were resolved. Westinghouse contends that the AP1000 design is consistent with all requirements of the Licensing Basis and that assessments are unnecessary.

Westinghouse has charged the Owners for support necessary to perform the assessments citing that no assessments were necessary. SCE&G believes that the value of the assessments to the Projects and to Westinghouse have been demonstrated. In addition to the benefits of reduced schedule and regulatory risk mentioned above, Westinghouse receives the benefit of independent assessment of key areas of the AP1000s unique design.
	

SCE&G requests that Westinghouse move forward with assessments (five additional assessments are desired) and cover their internal costs such that each Party participating in the review is responsible for its own cost. In this manner, each Party shares in the costs and benefits through reduced Project schedule risk and reduced regulatory risk.

	31
	

WEC home office and site licensing efforts
	

For Contractor initiated Design Changes, processing Contractor’s desired changes to the design and licensing basis is resource intensive. The Contractor has initiated and processed thousands of DCPs and hundreds of LCPs. Changes are made at the request of the Contractor for convenience or in order to address challenges within the Contractor’s original design that was purchased by the Owner under the EPC Agreement. The Owner has incurred considerable cost to process Contractor’s desired changes to the VCS 2/3 licensing basis. Such changes are made for the Contractor’s convenience. The EPC did not account for the changes to the licensing basis requested by the Contractor. The EPC was based on Owner purchase of a design from the Contractor and the Owner has incurred costs to allocate resources and obtain additional contract assistance in order to support Contractor requested changes. In addition, Contractor has requested reimbursement of expenses for implementing changes to the extent that work relates to site-specific Tier 1, Tier 2*, COL, or Tech Spec requirements. An example is the EP ITAAC Table 7.5-1 and 7.5-201 in COL Appendix C. These tables were cited by the NRC as an EP ITAAC to show required plant equipment to support EP. This equipment was also described in the DCD and if changed by the  Contractor requires a site specific supporting change to the COL.
	

Subject to Paragraph 15 of the October 2105 Amendment, Westinghouse should be responsible for its costs incurred to make changes to the Owner’s Current Licensing Basis (CLB), attributable to its DCPs and LCPs. This includes efforts to resolve Owner comments prior to incorporation of change into the VCS 2/3 CLB, whether made on a draft or final revision of the proposed change package. It is reasonable to expect that some changes may require multiple comment review cycles due complexity and number of parties involved. Westinghouse should also be responsible for its costs incurred for implementing changes to the extent that work relates to site-specific Tier 1, Tier 2*, COL or Tech Spec requirements.  The Owner will be responsible for Owner-directed changes.

	32
	

WEC’s position on CB&I Service claim against WEC for CV costs (delay and other)
	

CB&I Services (WEC’s subcontractor) Containment Vessel safety-related Work was delayed from January 19, 2011 through July 31, 2011. WEC invoiced the Owner
$1,405,811.35 (Target Price). CB&I Services’ work was delayed due to CB&I Services’ ineffective QA program; Westinghouse and its subcontractors are required to have a QA program that meets the requirements of the EPC Agreement. The Owner should not be liable for any charges associated with a delay period during which CB&I Services had to take actions necessary to meet its contractual QA program obligations.
	

WEC should retract this invoice as no longer owed by the Owner. Whatever settlement WEC reached with CB&I Services associated with this delay should remain between WEC and its subcontractor. No further invoices will be issued to Owner related to the costs for schedule delay impacts on the CV unless related to a Change under Article 9 of the EPC Agreement.

	33
	

Secondary Lab and Sampling Room in Turbine Building
	

Per Exhibit A of the EPC Agreement, the Turbine Building is to be provided as a complete structure and finishes inclusive of all equipment, components and commodities. Consortium's position is that they are entitled to a Change Order for the completion of Secondary Chemistry Laboratory including utilities (e.g. gas lines, water lines, faucets, drain lines, electrical outlets) and fixtures (e.g. sampling panels, fume hood, sinks, high purity water treatment unit) to be located in the laboratory that interface with multiple plant systems including the Main AC power System, Waste Water System, Potable Water System, Demineralized Water System, and the Turbine Building Ventilation System.
	

The Consortium should supply the secondary chemistry lab furnished to the scope of supply outlined in the attachment titled “Secondary Chemistry Lab Scope of Supply” attached to SCE&G letter NND-15-0085 dated February 4, 2015.

	
				
	

34
	

Site inspections and Vendor
Inspections by NRC
	

For site inspections performed by the NRC, because the Contractor is responsible for design, construction, and testing of the AP1000 and maintains responsibility for the Facility Information during construction, the Contractor is obligated to provide knowledgeable personnel to support NRC inspections associated with design, construction and testing. These personnel may include subject matter experts whose work location is off site. From time to time, certain inspections may be generic in nature or rely solely on software/services. For these inspections it may be most effective, for all parties, to execute the inspection at the specific Contractor work location. This location may be off site at a contractor facility. For inspections performed by the NRC at Contractor's vendor facilities, it is the Owner’s reasonable expectation that the Contractor and Contractor’s vendors retain responsibility of Vendor inspection support. There has been no Change in Law since agreement of EPC. In fact, the NRC specifically identified their intended vendor inspection activities to include ITAAC on 6/27/2007 through SECY-07-0105. The inspections performed at vendors assure compliance with Appendix B and 10CFR21 as required by procurement documents. These inspections are not intended to confirm ITAACs but to ensure the associated QA activities are implemented in accordance with Appendix B.
	

At no additional cost to Owner, Westinghouse to provide the Owner with all information requested by NRC inspectors and any information requested by the Owner to properly prepare for the inspection, in addition to routine oversight. Westinghouse will need to coordinate with their vendors, as needed, to address NRC questions related to ITAAC associated activities performed by vendors or sub-vendors. For any NRC violations requiring licensee response, related to work activities within Contractor scope, the Contractor will provide information to Owner as requested by Owner to respond and address the violation. Depending on significance, these activities may require additional engineering effort or re-work in the field. For Conditions Adverse to Quality (CAQ) which have been evaluated for 10 CFR 50.55(e) reportability or are associated with an NRC Finding, the Contractor is obligated to provide any Causal Analysis which has been performed for Owner review to support any follow up. The NRC expectation is that in accordance with 10 CFR 52.99, the Owner considers vendor inspection findings during ITAAC closure. As such, the Owner expects Contractor to share information pertaining to vendor/contractor notices of nonconformance identified by NRC and their resolution to support ITAAC closure. It is also reasonable that the Contractor share inspection results with the Owner after inspection exit to ensure the Owner can capture any issues potentially affecting ITAAC into the Corrective Action Program in a timely manner. Finally, the nature of the standard plant design obliges the Contractor to successfully manage NRC vendor inspections to support construction and operation of the first AP 1000 plants.

	

35
	

ID/labeling of subcomponents
	

Labeling of the plant is a Consortium (construction) responsibility as outlined in the Agreement, related Project Execution Plans, and other related Project documents. In accordance with Exhibit A.2, titled "Phase II," of the Agreement, the Consortium is to provide the Owner with "one (1) or two (2) complete AP1OOO Nuclear Power Plant Units ...except for those items listed in Table 1 as Owner's Responsibility." This section further describes the AP1000 Nuclear Power Plant Units as the Standard Plant description as described in Revision 16 of the AP1000 Design Control Document (DCD). Section 18.8.4.1.9 of Revision 16 of the AP1000 DCD, titled "Coding and Labeling, states the following as it relates to labeling of components: “Equipment located in the AP1000 has a unique identifier and plant descriptive name. The configuration management system includes the identification of the equipment in the plant. Each component is assigned an identifier during the design process. The identifier is maintained through manufacturing, construction, and operation. The components are labeled according to the assigned identifier. These labels help avoid errors in operating or working on the wrong equipment and in reporting problems or conditions observed in the plant. The labels help reduce the training burden for operating and maintenance personnel. Color, syntax, abbreviations and symbols are consistently applied. The labels are located in an easily visible location on the component and are not hidden by insulation, equipment covers, or surrounding equipment. Labels are fastened to the component to prevent easy detachment of the label." APP-GW-GZP-002, "AP1000 Component Identification Labeling Procedure" contains guidance for Project groups to use in developing and affixing component identification and operator aid labels. This document lays out roles and responsibilities, label content, label material, and label placement. This procedure has been reviewed and endorsed by the Owner as an acceptable method for labeling the AP1000 Plant. Further review of the Project Execution Plans for System Turnover (APP- GW-GBH-350, Rev. 0) indicate that all system tagging labeling installation is a pre-requisite responsibility of Construction prior to turnover to Pre-Operational Testing. This approach is consistent with the expectations of SCE&G for system turnover and collaboration of station personnel in the testing and startup activities. In addition, it is the Owner’s understanding that the current Work In Progress (WIP) MELs exclude the following equipment types and are not anticipated to be numbered or labeled (note: this list is not comprehensive): Subcomponents to skids and packages;      Components within I&C and Electrical Cabinets (breakers, switches, and etc.); Fuses (Master Fuse List required per UFSAR); Pipe Hangers/Snubbers; Electrical equipment controls (i.e., solenoid valves for equipment).
	

Consortium to provide a plan outlining the labeling of the V.C. Summer AP1000 Nuclear Power Plant. At no additional cost to Owner, Consortium to label the V.C. Summer AP1000 Units 2 and 3 in accordance with APP-GW-GZP-002.

	

36
	

FPOT/F3POT
	

The Owner’s position is that the Consortium is responsible for all testing in accordance with Article 11 of the EPC Agreement. This testing includes the First Plant Only Test (FPOT) and the First Three Plants Only (F3POT). The Owner acknowledges that the Consortium made an effort to take credit for the China FPOT and F3POT and results, but that the NRC was not supportive of this approach. As a result, the Consortium has incorporated the FPOT and F3POT into the testing program and schedule to be performed on site for the Units. The Owner agrees with including this testing in the T&M scope of work in the EPC Agreement, but does not agree that this testing is outside the EPC Agreement scope and warrants a change order. The Consortium and Owner positions are included in VSP_VSG_002399 and NND-13-0486, respectively.
	

The Consortium to perform the FPOT and F3POT as part of the testing program in accordance with Article 11 of the EPC Agreement.

	

37
	

Timely access to vendor technical manuals.
	

The Owner needs information turnover to develop the programs, processes and procedures to operate the plant. Furthermore, the Owner needs those documents produced and delivered in a timely fashion to facilitate the proper level of Owner review and acceptance.  To date, the flow of engineering information not directly used to build the plant, i.e. placed in ShawDocs, has been insufficient. The EPC references in a number of locations that the Consortium will provide various documentation to the Owner prior to system turnover. Section A.2 states that “Documentation to be provided by the Contractor to the Owner as developed for the Facility as listed in Table. 2” and section 3.3.3 states “Contractor shall provide to Owner the necessary inputs, test procedures, technical manuals, and other Documentation related to forgoing tests.” The Owner interprets these statements to mean that as the documents are developed to a revision 0 product, they will be made available to the owner via ShawDocs or CAPA.
	

As the documents are developed (revision 0), at no additional cost to Owner, Westinghouse to make those documents available for Owner review. For example, if the RCS system design is complete, those documents, to include vendor technical manuals, should all be available for owner review and acceptance, well before the system testing has begun. This process should begin immediately.

	

38
	

BEACON
	

The WEC AP1000 reactor Standard Plant design contains a core power distribution measurement system designated as the Incore Instrumentation System (IIS). The AP1000 has been designed to use the BEACON system as part of its required control system. BEACON is an advanced core monitoring and support package. According to DCD Revision 16, this online core monitoring system provides the operator with the current allowable operating space, detailed current power distribution information, thermal margin assessment and operational recommendations to manage and maintain required thermal margins. It is understood that the AP1000 Standard Plant initial startup cannot occur without BEACON hardware and software and, as the AP1000 is designed, it cannot be operated without BEACON. In addition, per the Agreement, WEC is obligated to provide to Owner an AP1000 Standard Plant as described in DCD Revision 16. For the IIS, the system is to be supplied complete and inclusive of all equipment, components and commodities including any specialty handling tools and equipment as described in the DCD.
	
WEC to provide BEACON-DMM hardware and software to support fuel load, startup testing and operations as part of the EPC Agreement and without additional charge to the Owner.

    
Confidential Trade Secret Information - Subject to Restricted Procedures                

	
				
	

39
	

Shield Building Door, Annex, Auxiliary Building, Aircraft Impact Assessment.
	The Consortium sent to Owner Notice of Change letters (VSP_VSG_003096 and VSP_VSG_003450) claiming that a new NRC Rule entitled “Consideration of Aircraft Impact for New Nuclear Power Reactors” (the AIA Rule) impacts other structures in the Nuclear Island. Specifically, the Consortium claims that it is required to make changes to the Annex and Auxiliary Buildings’ wall design, as well as Annex and Auxiliary and Shield Building doors to comply with the NRC Rule. The Consortium further claims that this scope of work is outside that of the EPC Agreement and warrants a change order. The Owner has taken exception to the Consortium claim in NND-15-0007 and NND-15-0323 based on the availability and knowledge of the draft AIA Rule prior to execution of the EPC Agreement and the comprehensive Agreement between the Consortium and the Owner executed on July 11, 2012 and resolving all issues associated with the AIA Rule impact.
	Consortium to implement the necessary design and construction changes to the Shield Building Door and Annex and
Auxiliary Buildings impacted by the AIA Rule in accordance with the EPC Agreement and July 11, 2012 Agreement

	

40
	

Loss of Large Areas of the Plant due to Explosions or Fire Testing
	On March 27, 2009, the NRC amended 10 CFR Part 50 and 10 CFR Part 52 with new requirements to address loss of large areas (LOLAs) of the plant due to explosions or fires from a Beyond Design Basis Event. The NRC issued Interim Staff Guidance DCD/COL-ISG-016 to assist new applicants or holders of COLs to address the LOLA requirements. These requirements were not included in DCD Revision 16, which is the design basis for the Agreement (Reference 1). In Reference 2, Owner notified the NRC that changes would be made to a future revision of the V.C. Summer Units 2 & 3 COLA in accordance with 10 CFR 52.80(d) and 10 CFR 50.54(hh)(2) to address LOLA. Owner provided the NRC with a Mitigative Strategies Description (MSD), which described the preoperational testing required to provide a reasonable confirmation of adequate spent fuel pool spray coverage. These requirements were incorporated into Owner’s COL Section 2.D.(12).(e).8 as a license condition. The Consortium has offered to perform this work for SCE&G as a change order.
	

Consortium to perform the testing and other work required to meet Owner’s LOLA obligations under the COL Section
2.D.(12).(e).8 as a license condition at no additional cost to Owner.

	41
	

Pre-Service Testing Program Development, Pre-Service Test Conduct, ITP
	

The Owner and Consortium have a difference of opinion on the Initial Test Program scope as related to the following items referenced in VSP_VSG_003669:
1. Pre-service testing, including baseline in-service testing
2. Initial core load and post core load vessel assembly
3. Any spent fuel pool spray flow and makeup testing required to support the Loss of Large Area (LOLA) Mitigation Strategy Document (reference item 40 on
Commercial List)
4. Cooling Towers testing
5. Preoperational testing for: a. Storm Drains; b. Site-specific Seismic Monitoring System; c. Offsite AC Power Systems; d. Raw Water System; e. Sanitary Drain System; f. Fire Brigade Support Equipment; g. Portable Personnel Monitors and Radiation Survey Instruments; h. Physical Security Plan equipment implied in UFSAR Section 14.4.5; and, i. External/Offsite Communications The Consortiums position is that these items are not included in the EPC Agreement scope. The Owner’s position is that the items above are in the EPC Agreement ITP scope.
Additional ITP expectations include the following:
1. All FPOT and F3POT testing and associated activities to include test specification and procedure development, material/equipment procurement, test planning, test scheduling, test performance, data analysis and generation of final test report. Reference item 36 on Commercial List.
2. All testing associated with “site specific” systems listed in EPC Agreement Exhibit A, Table 1. Activities to include test specification and procedure development, material and equipment procurement, test planning, test scheduling, test performance, data analysis and generation of test report.
3. ASME Pre-service Test Plan development and implementation as noted in the first section above based on the current revision of the ASME-OM document.
4. Steam Generator Moisture Carryover Test procedure development, material and equipment procurement, test planning, test scheduling, test performance, data analysis and generation of test report. Reference item 45 on Commercial List
5. Large Area Testing. Reference item 40 on Commercial List.
	

Consortium to include all of these items in the ITP at no additional cost to Owner.

	

42
	

Procedure revisions from Technical Specification Upgrade (Owner, WEC 50/50)
	

This issue deals with LAR 13-037 (Technical Specification Upgrade) and the Owner’s position that the technical specifications as written were not usable and would not allow the Owner to successfully operate the plants (reference NND-14-0479). Technical specification examples were given in NND-14-0479 relating to the Steam Generator Isolation Valves flow path, Reactor Coolant Pump minimum flow parameters and the Radioactive Effluent Control Program.
	Contractor to provide a proposal to APOG for the requested scope per letter dated October 7, 2015 from APOG with subject: APOG-2015-007 Request for Quote - Technical Specifications Upgrade Impacts. Scope will be performed in accordance with and under the terms of an APOG purchase order. In the event the work is not performed through APOG, Westinghouse to provide technical specifications that are technically accurate and easily understandable and Contractor to complete items #1-5 in VSP_VSG_002989.

	

43
	Providing As-Built Drawings
	
EPC Table 2-1 makes reference to As-Built and As-Designed separately from each other. Consortium members have verbally communicated that they interpret As-Built to be the As-Designed document combined with the associated change documentation. This is not consistent with SCE&G’s understanding of the term As-Built. WEC procedure APP-GW-GAP-615, Appendix F5 states - To pass release for the core load and turnover to the Owner, the design shall: The design input document shall have no open items or unincorporated changes; Design output documents shall be complete, numeric, and consistently relate to the design input document. A numeric revision, verified compliance document is required and shall demonstrate that the design output documents have met all design input requirements. Design output shall have considered and reconciled the impact from as built and as-tested conditions that may impact core load. NRC Inspection Manual, Inspection Procedure 65001, “Inspections of Inspections, Tests, Analyses and Acceptance Criteria (ITAAC) Related Work”, Attachment 65001.A, requires the following: 02.04 Review As-Built Deviations / Non-Conformances: a. Review a sample of documents that were used to identify differences between the as-designed and as-built SSCs to determine if: i. The difference, if not corrected to comply with the as-designed conditions, was properly documented and incorporated in the final as-built drawings.
	

To preclude any discussion or confusion regarding what may or may not impact core load, at no additional cost to Owner, WEC to turn over to SCE&G all documents as described in EPC Table 2-1, in an as-built state, with all changes and dimensional discrepancies incorporated into the document. Owner understands the engineering backlog on change paper is growing and immediate actions are required to be able to deliver “clean paper”. Owner understands that additional changes may occur after Turnover and is prepared to address processes to handle these changes.

	

44
	Operating Procedure Configuration Control (Owner to incorporate All post-Baseline 7 Design Changes)
	

Westinghouse continues to make design changes to the Facility that effect standard operating procedures delivered to the Owner. Identification of the affected procedures is essential to ensure that the operating plant procedures are consistent with the plant design as required.
	

At no additional cost to Owner, Westinghouse to identify the impact of all design changes on operating procedures and provide this information to Owner.

	

45
	

Steam Generator Moisture
Carryover Test
	

Refer to item 41 on Commercial List.
	

Refer to item 41 on Commercial List.

	

47
	

Communication System and BIS Power Allocation
	For the Communication System issue, the initial Consortium design did not take into account the site layout of the plants sold to SCE&G. Designs were for a single unit and ended at the security fencing. The Consortium's initial position was that their responsibility for wireless and wired phones, paging system, radios and networking systems ends at the “fence line.” SCE&G contends that the Consortium is responsible to extend these systems to the site specific areas like RWS intake structure, CWS cooling towers, and OWS facility.

For the BIS Power Allocation issue, power allocated for Communications is not sufficient for SCE&G needs (e.g. powering phones, cameras, etc.). Per design documents, 48.6kW total power was allocated for both BIS and EFS networks. EFS would be allocated 35kW with the remaining 13.6kW allocated for BIS. SCE&G determined that the BIS power use was 38.4kW versus the 13.6kW allotted in the design.
	

For the Communication System issue, Consortium letter VSG_VSP_002475 dated October 9, 2013 established an acceptable DOR addressing the majority of the issues and site layout change order 26 resolved the remaining issues.

For the BIS Power Allocation issue, Consortium to work with Owner to achieve adequate BIS power to support SCE&G communication needs at no additional cost to Owner.

    
Confidential Trade Secret Information - Subject to Restricted Procedures                

	
				
	

49
	

Site Security System Backup Power
	
AP1000 Design Change Proposal APP-GW-GEE-2710 “Annex Building Security Features Update” identifies the back-up duration for the security system to be less than that identified in APP-GW-GLR-066 “AP1000 Safeguards Threat Assessment” and section 3.6.9 of NUREG-1793, “Final Safety Evaluation Report Related to Certification of the AP1000 Standard Design.” The Owner does not accept this reduction in back-up power reduction as referenced in NND-14-0689.
	Westinghouse to provide the required back-up power duration. The Owner is willing to consider the reduced back-up power duration contingent upon WEC’s integration of the Plant Security Systems (SES) for Units 2 and 3 (Reference NND-14-0689).

	

50
	

OWS Security Plan
	The Offsite Water System (OWS) Treatment Facility includes security and fencing plans that have been discussed with the Consortium and incorporated in the pricing for the latest draft Change Order 17 dated May 10, 2015. Correspondence relating to the OWS Security Plan includes VSP_VSG_001469, NND-11-0444, VSP_VSG_001605 and NND-12-0034. Incremental OWS security plan costs required to meet Owner corporate standards became a commercial issue, specifically the security and fencing requirements and the fire alarm system and fire detection system. Other OWS commercial issues included in the draft CO 17 are the numbering and tagging of equipment and coatings and pipe color requirements. It is noted that the primary OWS change reflected in the draft CO 17 is the addition of the reverse osmosis system to remove bromides from the water. The Owner and Consortium negotiated a “no EPC Agreement price increase” change order for CO 17 which included the OWS security and fencing plans as well as the other items referenced herein. The draft CO 17 also includes other commercial items agreed upon by the Owner and Consortium.
	

That the Consortium complete the installation of the OWS security, fencing and other items above to the satisfaction of the Owner. CO 17 is addressed in Commercial List item #70.

	55
	PEB Design Change
	The Consortium and SCE&G could not initially come to agreement on the design requirements of the Plant Entry Building.
	This issue was resolved with the issue of change order 26.

	

57
	

Fire Alarm monitoring
	

Due to the delay in the project schedule, the Owner is concerned about the increasing value of inventory in the onsite warehouses 20A, 20B and 57 in relation to the insurability of the warehouses and their content under the Owner’s Builder’s Risk Policy. Owner has elected to implement enhancements to the fire alarm monitoring for these warehouses, which includes monitoring of sprinkler system water flow switches in the three warehouses and interconnecting the new system to the existing yard fire alarm system. On October 7, 2015, the Consortium provided to the Owner a draft CO for Owner’s review and comment.
	

The Consortium to install new local fire alarm control panels in Warehouses 20A and 57; the flow switches will be monitored locally at each of these 2 warehouses. A new main fire alarm panel will be installed in Warehouse 20B. This new main fire alarm panel will monitor the Warehouses 20A and 57. The new main fire alarm panel will be network connected to the existing Siemens fire alarm system using single mode fiber optic connections. Spare fibers which run between the buildings shall be assigned for this purpose.  All alarms from the new warehouse fire detection system will be monitored by the existing system’s main fire alarm panel located in the main plant entry guard shack. Physical connection with the existing system’s network shall be made at the YFS fire pump house. The new fire detection system for the three warehouses will be designed as a Class B system; Class A monitoring is not required to satisfy the requirements of the authority having jurisdiction codes for these warehouses.

	

60
	

Laurens Piping Quality Issues
	CB&I Laurens issued a self-imposed Stop Ship on March 12 following a CB&I Power Audit (V2015-035), which included two Level 1 findings and three Level 2 findings. Most of the issues were repeat Findings from previous Audits/Surveillances performed by CB&I Power.

CB&I Laurens issued a Stop Work Order (SWO) on all Safety Related (SR) ASME Section III piping on March 17. The issuance of this SWO was during the March NRC inspection which found many similar issues documented in the CB&I Audit (V2015-035). The major issues being addressed by the SWO are CGD and Qualification of Vendors, Internal and External Audit Programs, Document Control, and Corrective Action Program.

During CB&I Power Surveillance 2015-172, which occurred in August 2015, the surveillance team discovered that issues with CGD and Qualification of Vendors had not been fully addressed by CB&I Laurens. This was also noted as an indicator that the corrective actions with the CAP had not been fully effective.

July 2015, CB&I Site QC inspection of pipe spools not signed off by Laurens ANI resulted in an approximate reject rate of 65%. These were due to minimum wall violations, dimensional issues, and misfabrications. These results have raised questions on inspection methodologies between Summer, Laurens, Vogtle, and Source Inspection.

An additional CBI Laurens self-imposed SWO was put in place on 10/09/15 regarding the incorrect VALVES being place in a pipe spool. The preliminary investigation determined that this does not affect Section III Safety Related pipe spools and has only effected a single spool. However, this investigation is only preliminary and a full Extent of Condition has not been performed. In addition to the Laurens SWO CBI Power has issued QRL restrictions for shipping of Laurens ASME SR spools unless they are released (after enhanced inspection) by the CB&I site QA Directors. Currently Pipe Spools have only been released in phases 1-3 of a 4 phase SWO. No spools will be released to phase 4 until completion of First Article Survey(FAS) by CB&I Power. Once all Spools are completed through Phase 4, the SWO will be lifted.
	

1.  Completion of Corrective Actions associated with stop work /stop ship and lifting of restrictions.
2.  Agreement on inspection methodologies between Vogtle, Summer, Laurens, and Source Inspection.
3.  Completion of Enhanced Inspections on post SWO pipe spools performed by VC Summer QC.
4.  Sustainable Improvements in programmatic systems reported from Audit/Surveillance results performed by CB&I Power.

	67
	Common Q/Ovation MTS
	

Owner needs to have an Ovation MTS so Owner can train its technicians and engineers on Ovation equipment in the Ovation Maintenance and Ovation Core Team training areas.  The Ovation MTS provides an offline environment with a representative sample of system hardware representing the Distributed Control and Information System (DCIS).  In the plant, the Ovation platform is used for the Plant Control System, the Data Display and Processing System, and portions of the Operator Interface of the Operations and Control Centers System (collectively DCIS). Owner provided a revised scope of work to Westinghouse on September 9, 2015 and requested an updated cost proposal. [Note: Common Q MTS CO was in August 2015]
	Westinghouse to provide the Ovation MTS, to include the hardware, software, documentation and support, as described in the revised scope of work, which was emailed to Westinghouse on September 9, 2015.

	

69
	Path forward to execute CO16
	

CO#17 provides clarification information for CO#16. If CO #17 is to be executed, the 2 COs need to be executed together. However, the project schedule upon which
CO#16 was based no longer reconciles with the current working schedule.
	

1. Reach agreement with Consortium on execution of CO #16 and/or CO #17
2. If CO #16 is executed, determine whether schedule language in CO #16 should be modified
3. If schedule language needs to be modified, reach agreement with Consortium on updated language
4. Reach agreement with Consortium on whether Exhibit F schedules should be included in the CO, specific to CO #16. Consortium has proposed not including Exhibit F tables, since the information would be stale at the time of CO execution; instead the impacts of CO #16 to the Exhibit F milestones would be incorporated into an EPC Amendment.
5. Execute alone or simultaneously with CO #17

	

70
	

Path forward to execute CO17
	

CO#17 provides clarification information for CO#16; If CO #17 is to be executed, the 2 COs need to be executed together. However, the project schedule upon which
CO#16 was based no longer reconciles with the current working schedule
	1. Reach agreement with Consortium on execution of CO #16 and/or CO #17
2. If CO #17 executed, reach agreement with Consortium on whether Exhibit F schedules should be included in the CO, specific to CO #17 (Tables F.1.6 (f-h)). Consortium has proposed not including Exhibit F tables, since the information would be stale at the time of CO execution; instead the impacts of CO #17 to the Exhibit F milestones would be incorporated into an EPC Amendment.
3. Owner to transmit agreed-to de-escalation process since it is not included in CO as Owner requested.
4. If executed, execute simultaneously with CO #16

13

	
				
	

77
	

TEDV DAQ Funding
	Purchase agreement between Westinghouse, Southern and SCE&G is to provide the data acquisition system and capability to support thermal expansion and dynamic evaluation of plant components during testing.
	

Westinghouse to deliver TEDV DAQ in accordance with purchase agreement.

	

96
	

Offsite Storage and Lay down – Leases, Equipment, and FNM Per Diem (area 14, Blythewood, Metro)
	During Phase I of the EPC Agreement scope of work, the Owner paid the Contractor to develop the requirements for all temporary facilities on the Site, to include warehouses and equipment and material laydown areas. The Contractor developed the requirements, was given unlimited access to the Site and was in control of the Target Price budget for construction of the appropriate facilities. The Contractor now estimates significantly more warehouse facilities and laydown area space than it originally planned. The Owner contends that this additional warehouse and laydown area space is attributed to either inadequate planning on the part of the Contractor or structural module delay. The facilities and laydown area in question at this point are the Blythewood warehouse facility, Metro warehouse facility and laydown area 18. The Blythewood warehouse is being utilized and the lease payments invoiced to the Owner have been disputed. The Metro facility renovation is essentially complete and ready to receive equipment and material. The Contractor will begin invoicing the Owner for the lease and other expenses. The Area 14 laydown area construction has been out for bids by the Contractor who has been having discussions with the Owner on the invoicing process. The Contractor claims entitlement to a change order for these warehouse facilities and laydown area expenses since they are located off-site. The Owner disagrees and is willing to treat these facilities as target scope work under the EPC Agreement with no justification for a change order. Also, the Owner’s position is that CO 8 applies which transferred target dollars to fixed/firm dollars for items such as construction equipment and field non-manual living expenses.
	

The Contractor invoice the Owner for the Blythewood and Metro warehouses and Area 15 laydown area construction under the Target Price category per the EPC Agreement, applying the CO 8 cost categories to the invoicing. The total costs for these facilities and laydown area will remain in dispute per the EPC Agreement due to the structural module delay with resolution dependent upon senior executive negotiations.

	

97
	

Warranty impact due to delay and specific warranty claims; and extending warranties based on actual completion dates
	The warranty requirements are specified in Article 14 of the EPC Agreement. Specifically, a 24 month warranty period for Equipment begins upon the actual Substantial Completion Dates for Units 2 and 3. The presently approved Guaranteed Substantial Completion Dates for Units 2 and 3 are March 15, 2017 and May 15, 2018, respectively. The Owner’s position is that the 24 month warranty period and other warranty provisions in the EPC Agreement should be effective upon the actual Substantial Completion dates due to the structural module delay impact on the Project Schedule. Also, there are specific warranty claims that the Consortium is responsible for resolving. For example, the Units 2 and 3 Switchyard has experienced component failures, specifically related to capacitors, as noted in Owner correspondence NND-14-0335, NND-14-0337, NND-14-0514 and NND-14-0627. Other components also sustained damages, but were replaced by the Consortium with extended warranties (reference VSP_VSG_002978). The Consortium has been working with the Owner and capacitor manufacturer (ABB/Maxwell) to perform analyses and testing to determine root cause. In the meantime, capacitors have been removed from the Switchyard, which is presently operating at partial capacity due to these capacitor issues.
	

1. Consortium extends 24 month warranty provision and other warranty provisions of Article 14 of the EPC Agreement to be effective upon the actual Substantial Completion Dates for Units 2 and 3.
2. Consortium resolves all outstanding warranty claims, to include the Switchyard capacitor failure claim, to the
Owner’s satisfaction. This will include component extended warranties as applicable.

	

98
	Cyber-Security
	The Owner’s position is that the Consortium is committed in the EPC Agreement to provide a cyber security program for VCS Units 2 and 3 that complies with APP-GW- GLR-104, “AP1000 Cyber Security Implementation,” dated May 2007 (also referred to as TR-104). TR-104 is a requirement included in the AP1000 Design Control Document (DCD) Revision 16 which is referenced in the EPC Agreement. The Owner acknowledges that the NRC issued Regulatory Guide (RG) 5.71, “Cyber Security programs for Nuclear Facilities,” subsequent to the execution of the EPC Agreement and that there is a level of incremental scope of work which has not been satisfactorily resolved to the satisfaction of the Owner. The Owner and Consortium agreed to a Phase I Cyber Security CO (#14), which was executed on March 14, 2012
The Owner and Consortium have attempted to negotiate a Phase 2 Cyber Security CO but have been unsuccessful to date. A significant impasse dealt with the Consortium’s refusal to accept project schedule risk and mandate to Owner a release of the Guaranteed Substantial Completion date for Unit 2. A Phase 2 Cyber Security technical scope of work has been agreed upon and is included in the latest draft Cyber Security CO dated February 19, 2015 (VSP_VSG_003270). This technical scope is entitled “Technical Description for Consortium for AP1000 Consortium Cyber Security Scope of Supply.” The Owner and Consortium have discussed scopes of work beyond Phase 2, although no Technical Description for Phase 3 has been defined. For example, in a previous draft Cyber Security CO dated February 28, 2013, Phase 3 scope topics were addressed to include potential warehouse modifications to handle storage and handling of Critical Digital Assets (CDA’s), the training of site personnel to deal with CDA’s and site installation and Field Change Notices associated with hardware and software modification. The Owner and Consortium have also had discussions that Phase 3 work would involve dealing with suppliers of equipment for potential smart equipment upgrades. The Owner is concerned that the negotiations on cyber security have been unnecessarily delayed as evidenced by timelines maintained by the Owner and the Consortium’s decision to hold up work on cyber security and demobilize personnel earlier this year. It is noted that the Owner had authorized dollars for the Consortium to perform cyber security work during the negotiations and had requested that the Consortium continue with the interim funding provided by the Owner.
	

Subject to Paragraph 4 of the October 2105 Amendment, Consortium to provide a cyber security program in accordance with RG 5.71 and accept schedule risk to meet Guaranteed Substantial Completion Dates agreed to between Owner and Consortium. All phases of the Cyber Security Program are included in this scope, which also includes the Phase 2 technical scope referenced in the draft CO dated February 19, 2015.

Disputed and Returned Payments
Exhibit B
As of August 21, 2015

	
						
	

WEC Claim
	 
	 

	 
	Regulatory Delay Claim
	 
	$
	83,518,046
	

	 
	 
	 

	Payment Entitlement in Dispute
	 
	 

	 
	Capped Esc due to Structural Module Delay
	 
	$
	6,275,414
	

	 
	Cyber Security
	 
	$
	374,613
	

	 
	Target Invoice Returns (storage, tents, firm price)
	 
	$
	13,289,433
	

	 
	Target Invoice Withholding (10%) Due to Delay and
	 
	 

	 
	Performance Inefficiencies
	 
	$
	7,657,127
	

	 
	Interest Expense on Returned Invoices
	 
	$
	2,133,198
	

	 
	Total
	 
	$
	29,729,785
	

	 
	 
	 

	No Dispute, Payments Pending CO Execution
	 
	$
	5,565,845
	

	 
	HW Escalation Calculation
	 
	$
	5,565,845
	

	 
	Total
	 
	 

	 
	 
	 

	Timing of Payment in Dispute
	 
	 

	 
	Progress Payments
	 
	$
	99,066,205
	

	 
	Milestones Not Complete
	 
	$
	11,124,299
	

	 
	Total
	 
	$
	110,190,504
	

EXHIBIT C
Items Not Resolved or Released under October 2015 Amendment
	
		
	Description
	Reference

	Data Turnover and documentation required
	 

	Containment Debris Margin Increase
	NND-11-0166; VSP_VSG_001218

	Auxiliary Boiler design capability
	 

	Electromagnetic Capability (EMC) with Protection & Safety Monitoring System (PMS) -
	 

	American Society of Mechanical Engineers(ASME) Boiler and Pressure Vessel Code Section VIII pressure vessel over pressure protection
	NND-15-0460; VSP_VSG_003682

	Site Layout changes, Phase 3, due to security regulatory changes
	 

	Onsite automation/I&C Support to Owner 
during post initial core load
	 

	Onsite switchyard preoperational test
	 

	Plant Security System (SES)  testing
	 

	Plant Security System (SES) Unit 2&3  Computer Integration
	 

    
Confidential Trade Secret Information - Subject to Restricted Procedures                

AGREEMENT

AMENDMENT TO THE ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT BETWEEN SOUTH CAROLINA ELECTRIC & GAS COMPANY, FOR ITSELF AND AS AGENT FOR THE SOUTH CAROLINA PUBLIC SERVICE AUTHORITY AND A CONSORTIUM CONSISTING OF WESTINGHOUSE ELECTRIC COMPANY LLC AND STONE & WEBSTER, INC., FOR AP1000® NUCLEAR POWER PLANTS

THIS AMENDMENT to the Engineering, Procurement and Construction Agreement dated May 23, 2008 (“EPC Agreement”) for the AP1000 Power Plants at the Virgil C. Summer Nuclear Generating Station (“Project”) by and between South Carolina Electric & Gas Company, for itself and as agent for the South Carolina Public Service Authority (“Owner”) and a consortium consisting of Westinghouse Electric Company LLC (“Westinghouse”) and CB&I Stone & Webster, Inc. (“S&W”), (collectively “Contractor”) is executed on behalf of Westinghouse, shall be executed on behalf S&W upon the consummation of the Transaction (as defined in the October 2015 Amendment) and shall become effective upon execution by Owner and approval of the Public Service Commission of South Carolina, so long as execution occurs by the 1st day of November 2016, unless such approval is waived by the Owner or the date is waived by the Contractor (“Option Amendment”).  If execution does not occur by November 1, 2016, this Option Amendment shall be null and void in all respects.  Owner and Contractor may be referred to individually as a “Party” or collectively as the “Parties.”

In consideration of the mutual promises herein and other good and valuable consideration, the receipt and sufficiency of which the Parties acknowledge, the Parties, intending to be legally bound, stipulate and agree as follows:

1.Except as provided in paragraph 2, all remaining Work under the EPC Agreement as of the Effective Time (defined in the October 2015 Amendment referenced below) shall be converted to a Fixed Price in exchange for the remaining Contract Price being adjusted to $6.082 billion in current U.S. Dollars.  The remaining Contract Price adjustment represents the cost to complete the Project beyond what has been paid through June 30, 2015.  Payments made after June 30, 2015 will be credited against the $6.082 billion amount.

2.The following Time and Material Work is not included in the Fixed Price described in paragraph 1: sales tax, performance bond and insurance premiums, import duties, Mandatory Spare Parts and Extended Equipment Warranty costs (other than the costs associated with the warranty extensions provided for in paragraph 7 of the October 2015 Amendment, because those warranty extensions are at no cost to Owner).  This Work will be billed under the existing terms of the EPC Agreement.

3.The categories of Target Price and Firm Price are eliminated.  

4.The capitalized terms in this Amendment, except for those defined in this Amendment, shall have the meanings given to them in the EPC Agreement.

5.All provisions of the EPC Agreement not modified, expressly or by necessary implication, remain in full force and effect.

1

    
Confidential Trade Secret Information - Subject to Restricted Procedures                

IN WITNESS WHEREOF, the Parties have duly executed this Amendment as of the date first above written.

SOUTH CAROLINA ELECTRIC & GAS
COMPANY, for itself and as agent for South
Carolina Public Service Authority
	
		
	By:
	 

	Name:
	 

	Title:
	 

	
		
	WESTINGHOUSE ELECTRIC COMPANY LLC

	By:
	/s/Danny Roderick

	Name:
	Danny Roderick

	Title:
	President & Chief Executive Officer

	
		
	STONE & WEBSTER, INC.

	By:
	 

	Name:
	 

	Title:
	 

2

Dispute Review Board Agreement

THIS DISPUTE REVIEW BOARD AGREEMENT (“DRB Agreement”) concerning the Engineering, Procurement and Construction Agreement dated May 23, 2008 (“EPC Agreement”) for the AP1000 Power Plants at the Virgil C Summer Nuclear Generating Station (“Project”) is effective the ___ day of ______________ 2015, by and between South Carolina Electric & Gas Company, for itself and as agent for the South Carolina Public Service Authority (“Owner”) and a consortium consisting of Westinghouse Electric Company LLC and Stone & Webster, Inc., (collectively “Contractor”). Owner and Contractor may be referred to individually as a “Party” and collectively as the “Parties.”
    
WHEREAS, the Parties wish to establish a Dispute Resolution Board (“DRB”) for addressing all Claims, as defined in the EPC Agreement, and other disputes that may arise out of or relate to the Project and provisionally resolving such claims.
NOW, THEREFORE, in consideration of the recital, the mutual promises herein and other good and valuable consideration, the receipt and sufficiency of which the Parties acknowledge, the Parties, intending to be legally bound, stipulate and agree as follows:
1.Owner and Contractor agree to the establishment of a DRB in accordance with this DRB Agreement to assist in timely, impartial resolution of Claims and other disputes.  All Claims and other disputes arising out of or relating to the EPC Agreement shall be governed by this DRB Agreement, until Substantial Completion of both Units.

2.For Claims and other disputes under $5 million, determinations of the DRB shall be binding on the Parties. 

3.For Claims and other disputes of $5 million or higher, determinations of the DRB shall be treated as binding on the Parties on an interim basis until Substantial Completion of both Units.  Upon Substantial Completion of both Units, either Party may proceed de novo with dispute resolution in accordance with Article 27 of the EPC Agreement.  Determinations of the DRB will not be admissible in any de novo proceedings pursuant to Article 27 of the EPC Agreement.

4.For Claims and other disputes of $5 million or higher, Owner and Contractor shall submit their written acceptance or rejection of the DRB’s report concurrently to the other Party and to the DRB within fourteen (14) days of receipt of the report. Failure by either Party to accept or reject within the specified period shall be deemed acceptance of the report by that Party.  If both Parties accept the report, then it shall be final, without qualification.  If one or both Parties reject the report, they shall nonetheless treat the report as binding until thirty (30) days after Substantial Completion of both Units, at which point the report will have no force or effect.

5.The process outlined in this DRB Agreement shall be the exclusive dispute resolution process for all Claims and other disputes under the EPC Agreement and shall be in lieu of the process set forth in Articles 27.3 and 27.4 of the EPC Agreement, until Substantial Completion of both Units.  Thereafter, for Claims or other disputes covered by Paragraph 3 of this DRB Agreement, the Parties may proceed as stated in Paragraph 3.

1

6.Within thirty (30) days of the execution of the November 2015 Amendment, each Party shall submit to the other Party for approval the names of its nominees for membership on the DRB. The Parties shall mutually agree on the three members of the DRB.  Once constituted, the DRB members shall designate one of them as Chair of the DRB. The DRB shall serve until Substantial Completion of both Units.

7.Members of the DRB shall be experienced in the interpretation of contract documents, the resolution of construction disputes, and with complex power plant projects. At least one of the DRB members must be a licensed attorney.  To assist the Parties in the review and approval process, nominated members shall provide the following, in addition to the nominee’s full name and contact information, to both Parties:

		
	A.
	Resume showing construction experience qualifying the person as a DRB member.

		
	B.
	Resume showing past DRB participation, if any.  This resume will each DRB assignment separately, and state the name and location of the project, dates of DRB service, name of owner, name of contractor, contract value, nominating party if applicable, names of the other DRB members, and the number of disputes heard.

		
	C.
	All three members of the DRB are to be neutral and must affirm their neutrality, under oath, once the DRB is fully constituted and before the DRB takes any action. 

		
	D.
	Disclosure statement describing past, present, and anticipated relationships or financial ties, including indirect relationships through the nominee’s full-time employer, if any, to the Project, and with the Parties and with all other entities directly and indirectly involved in the EPC Contract. Entities indirectly involved include Fluor, designers, architects, engineers, or other professional service firms or consultants, joint-venture partners, subcontractors of any tier, and suppliers on the Project. The disclosure statement will also disclose close professional or personal relationships with key members of the Parties and these entities.

		
	E.
	Neutrality and disclosure is a continuing obligation of all DRB members throughout the life of the EPC Contract.

		
	F.
	Each member of the DRB shall execute non-disclosure agreements as required by the Parties.

		
	G.
	No DRB member shall be allowed to act as an arbitrator or appear as a witness in any subsequent arbitration or litigation related to or arising out of the EPC Agreement.

8.Once fully constituted, the DRB will visit the project site and meet with representatives of the Parties at periodic intervals and as requested by the Parties.  Any discussion and field observation shall be attended by personnel of the Owner and Contractor.

9.Owner and Contractor shall enter into good-faith negotiations to settle a dispute before referring such dispute to the DRB. These good-faith negotiations shall be involve full and timely disclosure of each Party’s position to the other Party, including the exchange, where applicable, of pertinent supporting records, analyses, expert reports, and similar documentation, and shall proceed without delay following the inception of the dispute.  Such good-faith negotiations may involve the solicitation and rendering of a DRB advisory opinion as described herein.

2

10.Either Owner or Contractor may refer a dispute to the DRB.  The dispute referral shall be made in writing to the DRB Chair with a copy concurrently provided to the other DRB members and the other Party. 

11.The dispute referral shall concisely define the nature and specifics of the dispute that are to be considered by the DRB and the scope of the determination requested. The DRB Chair shall confer with the Parties to establish a due date for delivering pre-hearing submittals, and a date, time, and location for convening the DRB hearing.  Hearings shall be convened, at a location mutually agreed by the Parties. Absent such agreement by the Parties, the DRB shall determine the location of the hearings.

12.The procedures governing the hearings shall be established by agreement of the Parties. Absent such agreement, the DRB shall establish such hearing procedures.

13.The DRB’s determination of a dispute will be formalized in a written report with format as determined by the DRB and signed by all DRB members.  The report shall consist of a concise description of the dispute, short statements of each Party’s position, findings as to the facts of the dispute, discussion and rationale for the determination, and the determination.  The report shall be submitted concurrently to the Parties, no later than thirty (30) days after completion of the hearing as agreed by all Parties.

14.Owner and Contractor shall each bear their respective costs and attorney’s fees. Owner and Contractor shall equally bear the cost of the DRB’s services.

IN WITNESS WHEREOF, the Parties have duly executed this DRB Agreement as of the date first above written.
SOUTH CAROLINA ELECTRIC & GAS
COMPANY, for itself and as agent for South
Carolina Public Service Authority
	
		
	By:
	 

	Name:
	 

	Title:
	 

	
		
	WESTINGHOUSE ELECTRIC COMPANY LLC

	By:
	 

	Name:
	 

	Title:
	 

	
		
	STONE & WEBSTER, INC.

	By:
	 

	Name:
	 

	Title:
	 

3

EXHIBIT F
CONSENT OF GUARANTOR
This Consent is made by TOSHIBA CORPORATION (“Guarantor”), a corporation duly organized and existing under the laws of Japan and the indirect parent of Westinghouse Electric Company LLC (“Westinghouse”). 
WHEREAS, Westinghouse and Stone & Webster, Inc. (“Stone & Webster”, and collectively with Westinghouse, the “Contractor”) and South Carolina Electric & Gas Company, for itself and as agent for the South Carolina Public Service Authority (collectively, the “Counterparty”) are parties to the Engineering, Procurement and Construction Agreement between the Contractor and the Counterparty, dated as of May 23, 2008 (the “Agreement”); and
WHEREAS, in connection with the Agreement, Guarantor executed and delivered to Counterparty a guaranty of the payment obligations of Westinghouse under the terms of the Agreement (the “Guaranty”); and
WHEREAS, the Agreement is being amended by an Amendment dated October 27, 2015 (the “October 2015 Amendment”); and
WHEREAS, Guarantor, as indirect parent of Westinghouse, shall receive benefit from the transaction contemplated by the Agreement as previously amended and as amended by the October 2015 Amendment and has agreed to give this Consent to provide assurance for Westinghouse’s payment obligations in connection with the Agreement as so amended; and
WHEREAS, Guarantor acknowledges the execution and delivery of this Consent is required by the terms of the October 2015 Amendment.
NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the adequacy, receipt and sufficiency of which are hereby acknowledged, Guarantor hereby agrees as follows:
1.Guarantor acknowledges the terms of the October 2015 Amendment.
2.The definition of Guaranteed Obligations in the Guaranty includes all payment obligations of Westinghouse under the terms of the Agreement, as previously amended and as amended by the October 2015 Amendment.
3.Guarantor hereby reaffirms the Guaranty and agrees that, except as provided herein, the Guaranty shall remain unchanged and in full force and effect.  Each and every term, covenant and condition of the Guaranty is hereby incorporated herein such that the Guaranty and this Consent shall be read and construed as one instrument.
4.The validity, construction, and performance of this Consent of Guarantor shall be governed by and interpreted in accordance with the laws of the State of New York, without 

giving effect to the principles thereof relating to conflicts of laws except Section 5-1401 of the New York General Obligations Law.
IN WITNESS WHEREOF, Guarantor has caused this Consent to be executed in its corporate name by its duly authorized representative.
TOSHIBA CORPORATION

By: /s/Shigenori Shiga                               
                                     Name: Shigenori Shiga    
                                                            Title: Representative Executive Officer    
  Date: October 27, 2015    

Acknowledged and Agreed by Counterparty as of this 27 day of October, 2015, by:

/s/Kevin B. Marsh                      
Name: Kevin B. Marsh    
Title: CEO, SCANA Corp    

2

MUTUAL RELEASE 
This Mutual Release (“Mutual Release”) is executed this 27th day of October, 2015, by South Carolina Electric & Gas Company, a South Carolina corporation having a place of business in Cayce, South Carolina, South Carolina Public Service Authority, a body corporate and politic created by the laws of the State of South Carolina (collectively, “Owners”) and Chicago Bridge & Iron Company N.V. (“CB&I”), a corporation organized under the laws of the Netherlands.
RECITALS
WHEREAS, Owners and a consortium consisting of Westinghouse Electric Company LLC (“Westinghouse”) and CB&I Stone & Webster, Inc. (“S&W”) (collectively, the “Contractor”) entered into an Engineering, Procurement and Construction Agreement with an effective date of May 23, 2008 (as amended or supplemented, the “EPC Agreement”) pursuant to which the Contractor agreed to assist Owners in the licensing of and to design, engineer, procure, construct and test two AP1000 Nuclear Power Plants and related facilities, structures and improvements known as Units 2 and 3 located at the V.C. Summer station in Jenkinsville, South Carolina, and owned by Owners (the “Project”);
WHEREAS, pursuant to the EPC Agreement, S&W furnished to Owners a Corporate Guarantee dated and effective as of May 23, 2008 and issued and executed by S&W’s then-ultimate holding corporation, The Shaw Group, Inc. (“Shaw Group”) (as amended or supplemented, the “S&W Parent Guarantee”); 
WHEREAS, thereafter, in connection with the acquisition by CB&I of Shaw Group, CB&I executed and furnished to Owners a Corporate Guarantee dated April 29, 2013 (the “CB&I Guarantee”), which replaced the S&W Parent Guarantee;  
WHEREAS, Contractor has submitted various notices of Change and Change Dispute Notices pursuant to the EPC Agreement that remain unresolved and various commercial issues, Change Disputes and Claims (as defined in the EPC Agreement) are pending under the EPC Agreement (collectively, “EPC Claims”); 
WHEREAS, simultaneously with the execution and delivery of this Mutual Release, Owners and  Westinghouse are entering into a binding Settlement and Release Agreement (the “Settlement Agreement”), with respect to, among other things, the EPC Claims; 
WHEREAS, Westinghouse,  S&W, an affiliate of Westinghouse (“Purchaser”), and CB&I are entering into a Purchase Agreement pursuant to which, among other things, Purchaser will purchase all of the outstanding capital stock of S&W; and
WHEREAS, effective upon the Effective Time (as defined in Paragraph 3), Owners and CB&I agree to release one another from any and all past, current and future duties, obligations, claims and liabilities arising out of or related to the EPC Claims, the EPC Agreement, the Project, the S&W Parent Guarantee and the CB&I Guarantee. 

1

NOW, THEREFORE, in consideration of the recitals and the mutual promises, covenants and agreements contained in the Settlement Agreement and herein, and for other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, Owners and CB&I mutually, release one another as follows.
RELEASE
1.    Effective upon the Effective Time, Owners, for themselves and their respective officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries and affiliated entities, heirs, executors and administrators (collectively, the “Owner Releasing Parties”) and each of them, hereby unconditionally and irrevocably fully release, forever discharge and covenant not to sue, except for the Excepted Party as defined in Paragraph 2 hereof, CB&I and its past, present, and future officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries, and affiliated entities, heirs, executors and administrators (collectively, the “CB&I Released Parties”), and each of them, from any and all manner of actions, controversies, suits, matters, liens, rights, liabilities, losses, debts, dues, damages, claims, guarantees, warranties, judgments, bonds, executions, obligations, accounts, fines, regulatory penalties (whether civil or criminal), costs and expenses (including attorneys’ fees) and demands (collectively, “Claims/Obligations”) of every nature, kind and description whatsoever in law or in equity, whether known or unknown, or whether suspected or unsuspected, or whether matured or un-matured, whether liquidated or unliquidated, under any theory, including joint and several liability, which Owners had, now have, or hereafter can, shall or may have against CB&I or any of the other CB&I Released Parties arising out of any manner or event relating to, or otherwise in connection with or concerning, the EPC Claims, the EPC Agreement, the Project, the S&W Parent Guarantee and the CB&I Guarantee.
2.        This Mutual Release is not in favor, and does not inure to the benefit, of S&W (being referred to herein as the “Excepted Party”) and it being understood and acknowledged that any release in favor of S&W is solely as set forth in the Settlement Agreement. Except for the Excepted Party as defined in Paragraph 1 hereof, effective upon the Effective Time, CB&I, for itself and its respective officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries and affiliated entities (but only to the extent any such subsidiary or affiliated entity is a subsidiary or affiliated entity after the Effective Time), heirs, executors and administrators (collectively, the “CB&I Releasing Parties”) and each of them, hereby unconditionally and irrevocably fully release, forever discharge and covenant not to sue, Owners and their past, present, and future officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries, and affiliated entities, heirs, executors and administrators (collectively, the “Owners Released Parties”), and each of them, from any and all manner of actions, controversies, suits, matters, liens, rights, liabilities, losses, debts, dues, damages, claims, guarantees, warranties, judgments, bonds, executions, obligations, accounts, fines, regulatory penalties (whether civil or criminal), costs and expenses (including 

2

attorneys’ fees) and demands (collectively, “Claims/Obligations”) of every nature, kind and description whatsoever in law or in equity, whether known or unknown, or whether suspected or unsuspected, or whether matured or un-matured, whether liquidated or unliquidated, under any theory, including joint and several liability, which CB&I had, now have, or hereafter can, shall or may have against Owners or any of the other Owners Released Parties arising out of any manner or event relating to, or otherwise in connection with or concerning, the EPC Claims, the EPC Agreement, the Project, the S&W Parent Guarantee and the CB&I Guarantee.
3.    This Mutual Release does not release any rights of S&W, the Excepted Party, it being understood and acknowledged that any release by S&W is solely as set forth in the Settlement Agreement. 
4.        Westinghouse and Owners have agreed that the Settlement Agreement will automatically become effective upon the closing of the purchase by Westinghouse or an affiliate of Westinghouse of all of the outstanding capital stock of S&W (such time of closing, the “Effective Time”).
5.    This Mutual Release and the application and interpretation thereof shall be governed exclusively by the laws of the State of New York without regard to conflicts of laws principles.
6.    This Mutual Release shall be fully binding upon each Owner, CB&I and their respective legal representatives, successors and assigns.
7.    The releases contemplated by Section 1 and 2 are intended to be as broad as permitted by law, provided that nothing in Section 1 or 2 shall apply to any action by any releasee to enforce the rights and obligations imposed by this Mutual Release.  Without limiting the foregoing, for the avoidance of doubt, the releases contemplated by Section 1 and 2 are intended to, and do, extinguish suspected, unmatured, unliquidated and unknown Claims/Obligations even if, confirmation, maturation or knowledge of those Claims/Obligations on the date hereof would have affected the decision to enter into this Mutual Release.  The release of suspected, unmatured, unliquidated or unknown Claims/Obligations was separately bargained for and was a key element of this Mutual Release, relied upon by each party in entering this Mutual Release.  The Owner Releasing Parties and the CB&I Releasing Parties shall be deemed to have, and by execution of this Mutual Release shall have, expressly waived and relinquished, to the fullest extent permitted by law, any rights or benefits they may have under state law, federal law, foreign law or common law that may have the effect of limiting the release set forth in Section 1, including any rights or benefits conferred by Section 1542 of the California Civil Code or any provision similar, comparable or equivalent to Section 1542 or successor provision to Section 1542 of the California Civil Code, which provides that: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.

3

8.        Each of the persons executing this Mutual Release on behalf of its respective principals warrants that he or she is legally entitled to enter into this Mutual Release and release the CB&I Released Parties and the Owner Released Parties from every claim and liability, whether potential or actual, herein referred to, and that he or she has the authority to bind his or her respective principals and has full authority to enter into this Mutual Release.
9.    Owners and CB&I acknowledge and represent that they have each relied solely upon facts obtained from their own independent investigations in executing this Mutual Release and that they each have not relied upon any statements or representations of any nature from the parties to the Settlement Agreement or any other individuals or entities, or such other parties’, individuals’ or entities’ attorneys or representatives.  Each Owner and CB&I represent that they have had sufficient opportunity to consult their own legal counsel with regard to the negotiation and preparation, as well as the scope and effect, of this Mutual Release.
10.    Owners and CB&I agree to execute any further documents necessary and take such other actions as to effectuate this Mutual Release.
11.        This Mutual Release may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, Owners and CB&I execute this Release by their duly authorized representatives.
South Carolina Electric & Gas Company        
for itself and as agent for the South Carolina Public Service Authority

By  /s/Kevin B. Marsh                                       

Title  Chairman & CEO                   

Date October 27, 2015                            

Chicago Bridge & Iron Company N.V.
        
By /s/Richard E. Chandler,  Jr.                                   

Title  EVP, Chief Legal Officer & Secretary              

Date October 27, 2015    

4

MUTUAL RELEASE

This Mutual Release is entered into this 27th day of October, 2015, and becomes effective as described herein, by and among Westinghouse Electric Company LLC, a Delaware limited liability company having a place of business in Cranberry, Pennsylvania (“Westinghouse”), CB&I Stone & Webster, Inc., a Louisiana corporation with a place of business in Charlotte, North Carolina (“S&W”), and South Carolina Electric & Gas Company (“SCE&G”), for itself and as agent for the South Carolina Public Service Authority, a body corporate and politic created by the laws of South Carolina (“Santee Cooper”) (collectively “Owners”).  Westinghouse, S&W and Owners may be referred to individually as “Party” or collectively as “Parties.”

RECITALS

WHEREAS, Owners and a consortium consisting of Westinghouse and S&W (collectively “Contractor”) entered into an Engineering, Procurement and Construction Agreement on May 23, 2008 (“EPC Agreement”) pursuant to which Contractor agreed to design and construct two new nuclear electrical generating units known as V.C. Summer Units 2 and 3 (the “Units”) located at the V.C. Summer Nuclear Generating Station in Jenkinsville, South Carolina (the “Project”);

WHEREAS, Contractor has submitted various notices of Change and Change Dispute Notices pursuant to the EPC Agreement that remain unresolved and various commercial issues, Change Disputes and Claims (as defined in the EPC Agreement) are pending under the EPC Agreement (collectively, “EPC Claims”); 
WHEREAS, Owners and Westinghouse are entering into a binding Amendment Agreement (“October 2015 Amendment”) with respect to, among other things, the EPC Claims; 
WHEREAS, a Westinghouse affiliate, Chicago Bridge & Iron Company N.V. (“CB&I”), and S&W are entering into a Stock Purchase Agreement pursuant to which, among other things, Westinghouse or an affiliate of Westinghouse will purchase all of the outstanding capital stock of S&W (the “SPA”);
WHEREAS, upon the execution the SPA, Westinghouse shall execute this Mutual Release on its own behalf, and upon the consummation of the SPA (the “Effective Time”) shall cause S&W to execute this Mutual Release on behalf of S&W; and

WHEREAS, upon execution of this Mutual Release by Westinghouse and S&W, this Mutual Release shall become effective as of the Effective Time, and in the event the SPA is not consummated, this Mutual Release shall not become effective and shall be null and void in all respects.

1

NOW, THEREFORE, in consideration of the recitals and the mutual promises, covenants and agreements contained in the October 2015 Amendment and herein, and for other good and valuable consideration, the receipt, adequacy and sufficiency of which are hereby acknowledged, Owners, Westinghouse and S&W hereby provide mutual releases as follows.
RELEASE
1.     Except as otherwise provided in the October 2015 Amendment (including Exhibit C to the October 2015 Amendment), upon the Effective Time, Owners, for themselves and their respective officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries and affiliated corporations, heirs, executors and administrators and each of them, hereby unconditionally and irrevocably fully release, forever discharge and covenant not to sue Westinghouse, S&W and their past, present, and future officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries, and affiliated corporations, and each of them, from any and all manner of actions, controversies, suits, liens, losses, debts, dues, damages, claims, attorney fees, guarantees, warranties, judgments, bonds, executions and demands of every nature, kind and description whatsoever in law or in equity, whether known or unknown, or whether suspected or unsuspected, or whether matured or unmatured, whether liquidated or unliquidated, under any theory, including joint and several liability, which Owners had, now have, or hereafter can, shall or may have against Westinghouse and/or S&W for any events or circumstances occurring as of the Effective Time and arising out of any manner or event relating to, or otherwise in connection with or concerning, the EPC Claims, the EPC Agreement and the Project.

2.Except as otherwise provided in the October 2015 Amendment (including Exhibit C to the October 2015 Amendment), upon the Effective Time, Westinghouse and S&W, for themselves and their respective officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries and affiliated corporations, heirs, executors and administrators and each of them, hereby unconditionally and irrevocably fully release, forever discharge and covenant not to sue Owners and their past, present, and future officers, agents, directors, partners, managing members, stockholders, owners, employees, attorneys, advisors, representatives, insurers, sureties, predecessors, successors, assigns, parents, subsidiaries, and affiliated corporations, and each of them, from any and all manner of actions, controversies, suits, liens, losses, debts, dues, damages, claims, attorney fees, guarantees, warranties, judgments, bonds, executions and demands of every nature, kind and description whatsoever in law or in equity, whether known or unknown, or whether suspected or unsuspected, or whether matured or unmatured, whether liquidated or unliquidated, under any theory, including joint and several liability, which Westinghouse and/or S&W had, now have, or hereafter can, shall or may have against Owners for any events or circumstances occurring as of the Effective Time and arising out of any manner or event relating to, or otherwise in connection with or concerning, the EPC Claims, the EPC Agreement and the Project.

2

3.    This Mutual Release and the application and interpretation thereof shall be governed exclusively by the laws of the State of New York without regard to conflicts of laws principles.
4.    This Mutual Release shall be fully binding upon Owners, Westinghouse and S&W and their respective legal representatives, successors and assigns.
5.    Each of the persons executing this Mutual Release on behalf of their respective principals warrants that he or she is legally entitled to enter into this Mutual Release and release every claim and liability, whether potential or actual, herein referred to, and that he or she has the authority to bind his or her respective principals and has full authority to enter into this Mutual Release.
6.    Owners, Westinghouse and S&W acknowledge and represent that each has had sufficient opportunity to consult its own legal counsel with regard to the negotiation and preparation, as well as the scope and effect, of this Mutual Release.
7.    Owners, Westinghouse and S&W agree to execute any further documents necessary and take such other actions as to effectuate this Mutual Release.
8.    This Mutual Release may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties execute this Mutual Release by their duly authorized representatives.

        
	
					
	Westinghouse Electric Company LLC
	 
	CB&I Stone & Webster, Inc.

	By
	/s/Danny Roderick
	 
	By
	 

	Title
	President & Chief Executive Officer
	 
	Title
	 

	Date
	October 27, 2015
	 
	Date
	 

South Carolina Electric & Gas Company        
for itself and as agent for the South 
Carolina Public Service Authority

	
		
	By
	/s/Kevin B. Marsh

	Title
	Chairman & CEO

	Date
	October 27, 2015

3

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