Document:

Exhibit

AMENDMENT TO
AMENDED AND RESTATED
LEVEL 3 COMMUNICATIONS, INC. STOCK INCENTIVE PLAN
RESTRICTED STOCK UNIT AND PERFORMANCE UNIT
MASTER AWARD AGREEMENT
THIS AMENDMENT TO AMENDED AND RESTATED RESTRICTED STOCK UNIT AND PERFORMANCE UNIT MASTER AWARD AGREEMENT (the “Amendment”) is dated as of January __, 2017, is an amendment to the Amended and Restated Restricted Stock Unit and Performance Unit Master Award Agreement December 31, 2015 (the “Agreement”) between Level 3 Communications, Inc., a Delaware corporation (the “Company”), and the individual whose name appears on the signature page to this Amendment (the “Participant”), an “Eligible Person” as defined in the Company’s Level 3 Communications, Inc. Stock Incentive Plan (as amended from time to time) (the “Plan”).
WHEREAS, the parties desire to document a modification to Section 3(e) of the Agreement with respect to all Awards made to the Participant having an Award Date of January 1, 2017 or after (the “2017 Awards”), to provide that if a Termination occurs after a Change in Control either (i) without Cause and initiated by the Company, or (ii) with Good Reason and initiated by the Participant, 50% of the 2017 Awards shall (after satisfaction of the Release Condition) immediately vest and settle as soon as administratively practicable following such Termination.
WHEREAS, the modification contemplated by this Amendment will only apply to Awards made to the Participant with an Award Date on or after January 1, 2017.
NOW, THEREFORE, the parties agree as follows:
1.    Definitions.  Capitalized terms used but not expressly defined in this Amendment will have the meanings ascribed to them in either the Agreement or the Plan, as the case may be.
2.    Amendment and Restatement of Section 3(e). Section 3(e) of the Agreement is hereby amended and restated to read in its entirety as follows: 
(e)    After a Change in Control.  Notwithstanding Section 3(a), if a Termination occurs after a Change in Control either (i) without Cause and initiated by the Company, or (ii) with Good Reason and initiated by the Participant, (A) all RSUs and PRSUs associated with any outstanding Award with an Award Date prior to January 1, 2017 and (B) 50% of all RSUs and PRSUs associated with any outstanding Award with an Award Date of January 1, 2017, or after shall (after satisfaction of the Release Condition) immediately vest and settle as soon as administratively practicable following such Termination.  For purposes of calculating the number of Shares to be delivered in such event based on any Award of PRSUs where the Performance Period has not yet expired, the Performance Objective for any outstanding Awards for PRSUs shall be set at the target level (100%) set forth in each Award Letter.  In the event that the Performance Period for any PRSU Award has expired as of the effective date of such Termination, the Performance Objective shall be measured in accordance with the terms herein and the Award shall vest and settle at the same time as if the Termination had not occurred.
3.    No Other Amendment.  Except as specifically stated in Section 2 above, no other amendment or modification of the Agreement or any outstanding Award shall be effected as a result of the execution of this Amendment and all other terms and conditions of the Agreement and any outstanding Awards shall remain in full force and effect.
4.    No Employment or Benefit Guaranty.  Neither the execution of this Amendment, the Agreement nor the receipt of an Award Letter (or any modification or amendment thereof), nor the settlement or vesting of any Awards shall be construed as giving to the Participant or other person any legal or equitable right against the Company, any Affiliate or the Committee except as expressly provided herein.  Under no circumstances shall this Amendment, the Agreement or any Award Letter constitute a contract of employment, nor shall the terms of employment of the Participant be modified or in any way affected hereby.  Accordingly, neither execution of this Amendment, the Agreement nor the grant of an Award shall be held or construed to give the Participant a right to be retained in the employ of the Company or any Affiliate.
5.    Successors.  The Company will require any Successor (whether direct or indirect, by purchase, merger, consolidation, operation of law or otherwise) to unconditionally assume all of the obligations of the Company hereunder.  In the event that the Committee determines that a Successor will not unconditionally assume all of the Company’s obligations hereunder, the Committee may, in its sole discretion, determine to accelerate the Scheduled Vesting Dates and settlement of (and/or determine in its discretion the Performance Objective measurement for all PRSUs) all Awards granted hereunder as of a date prior to the effective date of any Change in Control (in which event no Participant shall have a cause of action against the Company for a violation of this Section).
6.    The Plan.  The terms and provisions set forth in the Plan are incorporated herein by reference as if they were set forth herein; provided, however, that in the event of a direct conflict between the terms of the Plan and the terms of this Amendment, the terms of this Amendment shall govern.  Reference to provisions of the Plan are to such provisions as they shall be subsequently amended or renumbered.  The Participant acknowledges that a current version of the Plan is available on the Company’s intranet site, and the Company agrees to supply to the Participant a paper copy of the current version of the Plan upon the Participant’s request.
7.    Plan, Agreement and Award Letters Govern.  Although any information sent to or made available to the Participant concerning the Plan, this Amendment and the Agreement is intended to be an accurate summary of the terms and conditions of any Award, this Amendment, the Agreement, the Plan and the Award Letters are the authoritative documents governing the Award and any inconsistency between this Amendment, the Agreement, the Plan and the Award Letter, on one hand, and any other summary information, on the other hand, shall be resolved in favor of this Amendment, the Agreement, the Plan and the Award Letter.
LEVEL 3 COMMUNICATIONS, INC.                [Name of Participant] 
(“Company”)                            (“Participant”)

By:  ____________________________            By:  _______________________
Title:  ___________________________EX-10.1

 Exhibit 10.1 

Execution Version 
 PURCHASE
AGREEMENT 
 This PURCHASE AGREEMENT (this “Agreement”) is entered into as of May 1, 2017 by and between Taylor
Morrison Home Corporation, a Delaware corporation (the “Company”) and each of the parties identified on Schedule I hereto (each a “Seller” and collectively, the “Sellers”). 

Background 

A.    Each Seller desires to sell to the Company, at the price and upon the terms and conditions set forth in this
Agreement, the number of common units (the “Common Units”) of TMM Holdings II Limited Partnership, a limited partnership formed under the laws of the Cayman Islands (the “Partnership”), and a corresponding number of
shares of the Company’s Class B common stock, $0.00001 par value per share (the “Class B Common Stock”) set forth opposite such Seller’s name on Schedule I hereto (each such Common Unit together
with its corresponding share of Class B Common Stock to be sold by such Seller, a “Purchased Interest” of such Seller); 

B.    The Company desires to purchase each Seller’s Purchased Interests at the price and upon the terms and
conditions set forth in this Agreement (the “Purchases”); 
 C.     The Company is conducting a public
offering (the “Public Offering”) of shares of its Class A common stock (the “Underwritten Shares”) pursuant to an Underwriting Agreement, dated May 1, 2017 (the “Underwriting Agreement”);

 D.    The Company intends to use the proceeds received from the Public Offering to complete the Purchases. 

E.    The board of directors of the Company has approved the transactions contemplated by this Agreement for purposes of
Rule 16b-3 under the Securities Exchange Act of 1934 (the “Exchange Act”), which approval is intended to exempt each disposition by each Seller of its respective Purchased Interests to the
extent that it or any person affiliated with it may be deemed an officer or director of the Company, including a “director by deputization,” from Section 16(b) of the Exchange Act. 

THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned hereby agree as follows: 
 Agreement 

1.    Purchase. 

(a)    At the Closing (as defined below), subject to the satisfaction of the conditions and to the terms set forth in
paragraphs l(b) and l(c) below, each Seller, severally and not jointly, hereby agrees to transfer, assign, sell, convey and deliver to the Company 100% of its right, title and interest in and to such Seller’s Purchased Interests, and the
Company hereby agrees to purchase such Purchased Interests at a purchase price per Purchased Interest equal to the per share price at which the Company sells the Underwritten Shares to the underwriters in the Public Offering (the “Per Share
Purchase Price”). 

 (b)    The obligations of the Company to purchase the Purchased Interests
from any Seller shall be subject to (i) the closing of the Public Offering, (ii) the representations and warranties of such Seller being true and correct in all material respects as of the Closing and (iii) such Seller having complied
in all material respects with all of the covenants required to be performed by such Seller on or prior to the Closing. 

(c)    The closing of the sale of the Purchased Securities (the “Closing”) shall take place immediately
following the closing of the Public Offering, at the offices of the Company, or at such other time and place as may be agreed upon by the Company and the Sellers. 

(d)    At the Closing, each Seller shall deliver to the Company or as instructed by the Company duly executed transfer
powers relating to such Seller’s Purchased Interests and the Company agrees to deliver to such Seller the Applicable Purchase Price by wire transfer of immediately available funds to the account(s) specified in writing by such Seller.
“Applicable Purchase Price” means, with respect to any Seller, the product of the Per Share Purchase Price and the aggregate number of Purchased Interests being sold by such Seller pursuant to the terms of this Agreement. 

(e)    Neither the Company nor any of its affiliates intends to withhold any amounts payable pursuant to this Agreement
pursuant to Section 1445 of the Internal Revenue Code of 1986, as amended (the “Code”). If the Internal Revenue Service issues a Notice of Proposed Adjustment (or similar Notice) that the Company was required to withhold
and remit tax under Section 1445 of the Code on the proceeds payable to a Seller pursuant to this Agreement, then at the Company’s request, such Seller shall use commercially reasonable efforts to provide within 30 days evidence (intended
to be sufficient to satisfy the requirements of United States Treasury Regulations Section 1.1445-1(e)(3)) that such Seller has filed all federal income tax returns required to be filed by such Seller (and
paid all federal income tax shown as due from such Seller on such returns) with respect to the Purchase from such Seller pursuant to this Agreement; provided, however, at the election of such Seller, such Seller may provide any such evidence
directly to the Internal Revenue Service and not to the Company or any other third-party. 
 2.    Company
Representations. In connection with the transactions contemplated hereby, the Company represents and warrants as of the date hereof to the Sellers that: 

  
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 (a)    The Company is a corporation duly organized and validly existing under
the laws of the State of Delaware. The Company has the requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. 

(b)    This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding
agreement of the Company enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general
equitable principles. 
 (c)    The execution, delivery and performance by the Company of this Agreement and the
consummation of the transactions herein contemplated will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject,
(ii) violate any provision of the certificate of incorporation or by-laws, or other organizational documents, as applicable, of the Company or its subsidiaries or (iii) violate any statute or any
order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties, in the case of each such clause, after giving effect to any consents, approvals,
authorizations, orders, registrations, qualifications, waivers and amendments as will have been obtained or made as of the date of this Agreement, and except, in the case of clauses (i) and (ii), as would not reasonably be expected to have a
material adverse effect on (A) the business, operations, results of operations, properties, assets or condition (financial or otherwise) of the Company, the Partnership and its subsidiaries, taken as a whole, or (B) the ability of the
Company to consummate the transactions contemplated by this Agreement (a “Material Adverse Effect”); and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or
body is required for the execution, delivery and performance by the Company of its obligations under this Agreement, including the consummation by the Company of the transactions contemplated by this Agreement, except where the failure to obtain or
make any such consent, approval, authorization, order, registration or qualification would not reasonably be expected to have a Material Adverse Effect. 

3.    Representations of the Sellers. In connection with the transactions contemplated hereby, each of the Sellers,
severally and not jointly, represents and warrants to the Company as of the date hereof and covenants and agrees that: 

(a)    Such Seller is duly organized and existing under the laws of its jurisdiction of organization. 

(b)    All consents, approvals, authorizations and orders necessary for the execution and delivery by such Seller of this
Agreement and for the sale and delivery of the Purchased Interests to be sold by such Seller hereunder, have been obtained; and such Seller has full right, power and authority to enter into this Agreement and to sell, assign, transfer and deliver
the Purchased Interests to be sold by such Seller hereunder, except for such consents, approvals, authorizations and orders as would not impair in any material respect the consummation of such Seller’s obligations hereunder. 

  
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 (c)    This Agreement has been duly executed and delivered by such Seller and
constitutes a valid and binding agreement of such Seller, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization or other laws affecting enforcement of
creditors’ rights or by general equitable principles. 
 (d)    The sale of the Purchased Interests to be sold by
such Seller hereunder and the compliance by such Seller with all of the provisions of this Agreement and the consummation of the transactions contemplated herein (i) does not and will not conflict with or result in a breach or violation of any
of the terms or provisions of, or constitute a default under, any statute, indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which such Seller is a party or by which such Seller is bound or to which any of the
property or assets of such Seller is subject as of the date hereof, (ii) nor will such action result in any violation of the provisions of any organizational or similar documents pursuant to which such Seller was formed (to the extent such
Seller is not an individual) or any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over such Seller or the property of such Seller; except in the case of clause (i) or clause (ii), for
such conflicts, breaches, violations or defaults as would not impair in any material respect the consummation of such Seller’s obligations hereunder. 

(e)    As of the date hereof and immediately prior to the delivery of the Purchased Interests to the Company at the
Closing, such Seller holds good and valid title to the Purchased Interests to be sold at the Closing or a securities entitlement in respect thereof, and holds, and will hold until delivered to the Company, such Purchased Interests free and clear of
all liens, encumbrances, equities or claims; and, upon delivery of such Purchased Interests (including by crediting to a securities account of the Company) and payment therefor pursuant hereto, assuming that the Company has no notice of any adverse
claims within the meaning of Section 8-105 of the New York Uniform Commercial Code as in effect in the State of New York from time to time (the “UCC”), (A) under 8-501 of the UCC, the Company will acquire a valid security entitlement (within the meaning of Section 8-102(a)(17) of the UCC) to such Purchased Interests purchased by the
Company and (B) no action (whether framed in conversion, replevin, constructive trust, equitable lien or other theory) based on an adverse claim (within the meaning of Section 8-105 of the UCC) to
such security entitlement may be asserted against the Company. 
 (f)    Such Seller (either alone or together with its
advisors) has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the Purchases. Such Seller has had the opportunity to ask questions and receive answers concerning the terms and
conditions of the Purchases, and has had full access to such other information concerning the Purchases as it has requested. Such Seller has received all information that it believes is necessary or appropriate in connection with the Purchases. Such
Seller is an informed and sophisticated party and has engaged, to the extent such Seller deems appropriate, expert advisors experienced in the evaluation of transactions of the type contemplated hereby. Such Seller acknowledges that such Seller has
not relied upon any express or implied representations or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth
for the benefit of such Seller in this Agreement. 

  
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 4.    Termination.    This Agreement shall
automatically terminate and be of no further force and effect in the event that the conditions in paragraph 1(b) of this Agreement have not been satisfied on or prior to May 5, 2017. 

5.    Notices. All notices, demands or other communications to be given or delivered under or by reason of the
provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized overnight
courier, or sent via facsimile to the recipient. Such notices, demands and other communications will be sent to the address indicated below: 

To the Sellers: 
 At the address
listed for each Seller on Schedule I hereto. 
 To the Company: 

Taylor Morrison Home Corporation 

4900 North Scottsdale Road, Suite 2000 

Scottsdale, AZ 85251 

Attention:    Darrell C. Sherman, Esq. 

Executive Vice President, Chief Legal Officer and Secretary 

Facsimile:    (866) 390-2612 

E-mail: dsherman@taylormorrison.com 

with a copy to (which shall not constitute notice): 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 
 New
York, NY 10019-6064 
 Attention:    John C. Kennedy 

Facsimile:    (212) 757-3990 

E-mail:         jkennedy@paulweiss.com 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 

  
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 6.     Miscellaneous. 

(a)    Survival of Representations and Warranties.    All representations and warranties
contained herein or made in writing by any party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby. 

(b)    Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or
unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained
herein. 
 (c)    Complete Agreement.    This Agreement and any other agreements ancillary
thereto and executed and delivered on the date hereof embody the complete agreement and understanding between the parties and supersede and preempt any prior understandings, agreements, or representations by or among the parties, written or oral,
which may have related to the subject matter hereof in any way. 
 (d)    Counterparts. This Agreement may be
executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 

(e)    Assignment; Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned, in whole or in part, by any of the parties without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement shall bind and inure to the benefit of and be enforceable by the
Sellers and the Company and their respective successors and permitted assigns. Any purported assignment not permitted under this paragraph shall be null and void. 

(f)    No Third Party Beneficiaries or Other Rights. This Agreement is for the sole benefit of the parties and
their successors and permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and such successors and
permitted assigns. 
 (g)    Governing Law; Jurisdiction.    This Agreement and all disputes
arising out of or related to this Agreement (whether in contract, tort or otherwise) will be governed by and construed in accordance with the laws of the State of New York. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHTS
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. 

  
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Each of the parties (i) irrevocably submits to the personal jurisdiction of any state or federal court sitting in New York, New York, as well as to the jurisdiction of all courts to which an
appeal may be taken from such courts, in any suit, action or proceeding relating to or arising out of, under or in connection with this Agreement, (ii) agrees that all claims in respect of such suit, action or proceeding, whether arising under
contract, tort or otherwise, shall be brought, heard and determined exclusively in the federal court of the Southern District of New York (provided, that, in the event that subject matter jurisdiction is unavailable in that court, then all
such claims shall be brought, heard and determined exclusively in any other state or federal court sitting in New York, New York), (iii) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for
leave from such court, and (iv) agrees not to bring any action or proceeding relating to or arising out of, under or in connection with this Agreement or the Company’s business or affairs in any other court, tribunal, forum or proceeding.
Each of the parties waives any defense of inconvenient forum to the maintenance of any action or proceeding brought in accordance with this paragraph. Each of the parties agrees that service of any process, summons, notice or document by U.S.
registered mail to its address set forth herein shall be effective service of process for any action, suit or proceeding brought against it in accordance with this paragraph, provided, that nothing in the foregoing sentence shall affect the
right of any party to serve legal process in any other manner permitted by law. 
 (h)    Mutuality of Drafting.
The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no
presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of the Agreement. 

(i)    Remedies. The parties hereto agree and acknowledge that money damages will not be an adequate remedy for any
breach of the provisions of this Agreement, that any breach of the provisions of this Agreement shall cause the other parties irreparable harm, and that any party may in its sole discretion apply to any court of law or equity of competent
jurisdiction (without posting any bond or deposit) for specific performance or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement. 

(j)    Amendment and Waiver.    The provisions of this Agreement may be amended, modified or
waived only with the prior written consent of the Company and each of the Sellers. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement, nor shall any waiver
constitute a continuing waiver. Moreover, no failure by any party to insist upon strict performance of any of the provisions of this Agreement or to exercise any right or remedy arising out of a breach thereof shall constitute a waiver of any other
provisions or any other breaches of this Agreement. 
 (k)    Further Assurances. Each of the Company and the
Sellers shall execute and deliver such additional documents and instruments and shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement. 

  
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 [Signatures appear on following page] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Purchase Agreement on the date first
written above. 
  

					
	Company:
	
	Taylor Morrison Home Corporation
			
		 	By:	 	 /s/ Darrell C. Sherman

		 	Name:	 	Darrell C. Sherman
		 	Title:	 	Executive Vice President, Chief Legal Officer and Secretary

  
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[Signature Page to Purchase Agreement]  

					
	Sellers:
	
	TPG TMM Holdings II, L.P.
		
	By:	 	TPG TMM Holdings II GP, ULC, its general partner
		
	By:	 	 /s/ Michael LaGatta

		 	Name:	 	Michael LaGatta
		 	Title:	 	Vice President

  
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[Signature Page to Purchase Agreement] 

					
	Sellers:
	
	OCM TMM Holdings II, L.P.
		
	By:	 	OCM TMM Holdings II GP, ULC, its general partner
		
	By:	 	 /s/ Robert O’Leary

		 	Name:	 	Robert O’Leary
		 	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Derek Smith

		 	Name:	 	Derek Smith
		 	Title:	 	Authorized Signatory

  
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[Signature Page to Purchase Agreement] 

 SCHEDULE I 
  

											
	 Seller
	  	 Address
	  	Purchased Interests	 	  	Applicable Percentage	 
	 TPG TMM Holdings II, L.P.
	  	 TPG Global, LLC
 301 Commerce Street, Suite
3300
 Fort Worth, TX 76102
 Attention: Adam Fliss

Facsimile: (415) 438-6893

E-mail: afliss@tpg.com
  

With a copy (which shall not constitute notice) to:
  

Ropes & Gray LLP
 The Prudential Tower

800 Boylston Street
 Boston, Massachusetts 02199

Attention: Alfred O. Rose

                 Julie H. Jones

Facsimile: (617) 951-7050

E-mail: Alfred.rose@ropesgray.com

             Julie.jones@ropesgray.com
	  	 	5,000,000	 	  	 	50	% 
				
	 OCM TMM Holdings II, L.P.
	  	 Oaktree Capital Management, L.P.
 333 South
Grand Ave., 28th Floor
 Los Angeles, CA 90071
 Facsimile: (213)
830-6293
 E-mail: kliang@oaktreecapital.com

 
 with a copy (which shall not constitute notice) to:

 
 Debevoise & Plimpton LLP

919 Third Avenue
 New York, NY 10022

Attention: Jasmine Ball
 Facsimile: (212) 909-6836
 E-mail: jball@debevoise.com
	  	 	5,000,000	 	  	 	50	% 

  
 [Schedule I to
Purchase Agreement]

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