Document:

EX-10.1

 Exhibit 10.1 

Certain identified information (indicated by “[***]”) has been excluded from this exhibit because it is both not material and would likely cause
competitive harm to the registrant if publicly disclosed. 
 THIS TRANSACTION SUPPORT AGREEMENT IS NOT AN OFFER WITH RESPECT TO ANY SECURITIES. ANY
SUCH OFFER OR SOLICITATION WILL COMPLY WITH ALL APPLICABLE SECURITIES LAWS. NOTHING CONTAINED IN THIS TRANSACTION SUPPORT AGREEMENT SHALL BE AN ADMISSION OF FACT OR LIABILITY OR, UNTIL THE OCCURRENCE OF THE TSA EFFECTIVE DATE ON THE TERMS DESCRIBED
HEREIN, DEEMED BINDING ON ANY OF THE PARTIES HERETO. 
 TRANSACTION SUPPORT AGREEMENT 

This TRANSACTION SUPPORT AGREEMENT (as amended, supplemented, or otherwise modified from time to time in accordance with the terms hereof, and
including the Term Sheet (as defined below) and any other exhibits, schedules, or annexes attached hereto or thereto, this “Agreement”), dated as of September 29, 2020, is entered into by and among the following parties: 

 

	 	(a)	 Summit Midstream Partners Holdings, LLC (“SMPH”); 

 

	 	(b)	 Summit Midstream Partners, LLC (“SMP” and with SMPH, the “Company”);

  

	 	(c)	 Summit Midstream Partners, LP (“SMLP”) solely with respect to Sections 4(a)(iv)(B),
4(a)(iv)(C), 5, 8 and 27 herein; 

  

	 	(d)	 each of the beneficial owners (or nominees, investment managers, advisors or subadvisors for, or subaccount or
funds of, the beneficial owners) of the Term Loan Claims, in each case, as identified on the signature pages hereto (each, an “Initial Directing Lender” and, collectively, the “Initial Directing Lenders”); and

  

	 	(e)	 each of the other beneficial owners (or nominees, investment managers, advisors, or subadvisors for, or
subaccounts or funds of, the beneficial owners) of the Term Loan Claims that becomes a party to this Agreement after the TSA Effective Date in accordance with the terms hereof by executing and delivering a Joinder Agreement (each such Person
described in this clause (e), together with the Initial Directing Lenders, a “Directing Lender” and, collectively, the “Directing Lenders”). 

All persons or entities that are party to this Agreement or that become a party to this Agreement in accordance with the terms hereof are
referred to as the “Parties” and individually as a “Party.” 
 Capitalized terms used herein and not
defined herein shall have the meanings ascribed to them in the Term Sheet. 

 Recitals 

WHEREAS, the Term Loan Agent, the Directing Lenders, and the Company are parties to that certain term loan agreement, dated as of
March 21, 2017 (as amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof) by and between the Company, the Term Loan Lenders, and the Term Loan Agent
(the “Credit Agreement” and together with all documents and agreements executed in connection therewith, collectively, the “Loan Documents”); 

WHEREAS, the Company and the Initial Directing Lenders (constituting Required Lenders under the Credit Agreement) have in good faith
and at arm’s-length negotiated a debt discharge and restructuring transaction on the terms set forth in this Agreement and the term sheet attached hereto as Exhibit A (together with any
schedules, annexes, and exhibits attached thereto, and as may be modified in accordance with Section 12 hereof, the “Term Sheet”) (such debt discharge and restructuring transaction, including the Strict
Foreclosure or the Backup Transaction, as applicable, and all other transactions consummated in connection with, or relating to, any of the foregoing, collectively, the “Transaction”); 

WHEREAS, subject to the terms and conditions herein and the Term Sheet, and in reliance upon the representations and covenants by the
Company contained herein, the Initial Directing Lenders have agreed to execute and deliver to the Term Loan Agent that Direction to Effect a Strict Foreclosure, Consummate Assignment, and Take Other Actions in Connection Therewith, a form of which
is attached as Exhibit 1 to the Term Sheet (the “Strict Foreclosure Direction”); 
 WHEREAS, the
Company, the Initial Directing Lenders and the Term Loan Agent have agreed to the form of Notification of Proposal of Strict Foreclosure attached as Exhibit 2 to the Term Sheet (the “Strict Foreclosure Agreement”);

 WHEREAS, upon the Strict Foreclosure, at the direction of the Term Loan Agent, the Term Loan Lenders shall receive
(i) pursuant to the Strict Foreclosure Agreement and § 9-620 of the UCC, all of SMPH’s right, title, and interest in and to the Specified Collateral (as defined herein) and (ii) the
Additional Consideration (as defined herein); 
 WHEREAS, in connection with the Strict Foreclosure Agreement, the Company and the
Directing Lenders shall enter into the Mutual Release Agreement, a form of which is attached as Exhibit 3 to the Term Sheet (the “Mutual Release Agreement”); 

WHEREAS, holders of the Term Loan Claims that are not Directing Lenders may consent to the Transaction and enter into the Mutual
Release Agreement by executing an agreement, a form of which is attached hereto as Exhibit E (the “Consent Agreement”) in order to become a Transaction Consenting Lender; 

WHEREAS, SMPH has also agreed to pay each of the Directing Lenders and Transaction Consenting Lenders (as defined herein) its Pro Rata
Share of the Consent Premium (as defined herein) upon the consummation of the Transaction on the Closing Date; and 
 WHEREAS,
Following the TSA Effective Date, SMLP shall transfer to SMPH cash in an amount equal to the amount of the Consent Premium plus the amount of the Additional Consideration in accordance with Section 5 of this Agreement; 

  
 2 

 WHEREAS, the Parties agree that this Agreement, including all exhibits attached
hereto, and the Transaction contemplated thereby, are the product of arm’s-length and good-faith negotiations among all of the Parties. 

NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements set forth herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Party, intending to be legally bound hereby, agrees as follows: 

Agreement 
 Section 1.
Definitions and Interpretation. 
 As used in this Agreement, the following terms have the following meanings: 

 

	 	(a)	 “Additional Consideration” means $6.5 million cash. 

 

	 	(b)	 “Affiliate” means, with respect to any Person, any other Person controlled by, controlling or
under common control with such Person; provided the Company shall not be deemed to be Affiliates of any Directing Lender and no Directing Lender shall be deemed to be an Affiliate of the Company. As used in this definition,
“control” (including, with its correlative meanings, “controlling,” “controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power to
direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise). 

  

	 	(c)	 “Ad Hoc Group” means the ad hoc group of certain beneficial owners (or nominees, investment
managers, advisors or subadvisors for certain beneficial owners) of the Term Loan Claims, as may be reconstituted from time to time, represented by Stroock. 

  

	 	(d)	 “Ad Hoc Group Advisors” means, collectively, (i) Stroock, as counsel to the Ad Hoc Group,
and (ii) such other professionals that may be retained by or on behalf of the Ad Hoc Group; provided, however, that such other professionals’ fees and expenses, if any, shall be considered Ad Hoc Group Fees and Expenses only upon
the Company’s written consent, which consent shall not be unreasonably withheld. 

  

	 	(e)	 “Ad Hoc Group Fees and Expenses” means all reasonable and documented fees and expenses of the
Ad Hoc Group, including, without limitation, the reasonable and documented fees and all out-of-pocket costs and expenses of Stroock, and, to the extent the Company has
provided written consent in accordance with the definition of “Ad Hoc Group Advisors”, any other Ad Hoc Group Advisors, in each case, in connection with the negotiation, formulation, preparation, execution, delivery, implementation,
consummation, and/or enforcement of this Agreement, the Term Sheet, the Transaction, and/or any of the other Definitive Documents, and/or any of the transactions contemplated by (and/or any amendments, waivers, consents, supplements or other
modifications to) any of the foregoing; provided  

  
 3 

	 	
that fees, costs or expenses incurred by individual Directing Lenders associated with establishing any affiliated entities for purposes of consummating the Transaction in a tax-favored manner for the Directing Lenders shall not constitute Ad Hoc Group Fees and Expenses (provided, however, for the avoidance of doubt, that general advice regarding the establishment of
affiliated entities shall constitute Ad Hoc Group Fees and Expenses); provided further that the Ad Hoc Group Fees and Expenses paid by the Company pursuant to the terms of this Agreement will be not more than $300,000 for reasonable and
documented fees, out-of-pocket costs, and expenses of Stroock incurred between the TSA Effective Date and the earlier of (i) the Closing Date, (ii) the Backup
Transaction Toggle Date, or (iii) such other date as the Parties decide to implement the Backup Transaction pursuant to Section 28. 

 

	 	(f)	 “Agreement” has the meaning set forth in the recitals of this Agreement.

  

	 	(g)	 “Alternative Transaction” means any reorganization (including, for the avoidance of doubt, a
transaction premised on an asset sale or a chapter 11 plan other than one that implements the Transaction, or otherwise), proposal, offer, dissolution, winding up, liquidation, reorganization, merger, consolidation, business combination, joint
venture, partnership, sale of assets, recapitalization, or restructuring in any jurisdiction anywhere in the world for any entity of the Company other than the Transaction. 

 

	 	(h)	 “Applicable Period” has the meaning set forth in Section 27.

  

	 	(i)	 “Backup Transaction” has the meaning set forth in the Section 28. 

 

	 	(j)	 “Backup Transaction Documents” means all documents that are necessary to implement, or
otherwise relate to the Backup Transaction, which Backup Transaction Documents shall be reasonably acceptable to both the Company and the Requisite Directing Lenders. 

 

	 	(k)	 “Backup Transaction Toggle Date” means the date that is sixty (60) days following the end
of the Solicitation Period or such later date as may be agreed to by the Requisite Directing Lenders and the Company. 

  

	 	(l)	 “Baker Botts” means Baker Botts LLP, as securities counsel to the Company.

  

	 	(m)	 “Blackout Notice” has the meaning set forth in Section 27.

  

	 	(n)	 “Blackout Period” has the meaning set forth in Section 27.

  

	 	(o)	 “Business Day” means any day other than a day which is a Saturday, Sunday, or legal holiday on
which banks in the City of New York are authorized or obligated by Law to close. 

  

	 	(p)	 “Claims” has the meaning ascribed to such term in section 101(5) of title 11 of the United
States Code. 

  
 4 

	 	(q)	 “Claims and Interests” means, as applicable, the Term Loan Claims, the Other Claims, and/or
any existing Equity Interests in the Company, SMLP or any of their Affiliates. 

  

	 	(r)	 “Closing Date” means the date upon which the Transaction is consummated, as further described
in the Term Sheet (which, for the avoidance of doubt, will be the same date as the Effective Time (as defined in the Strict Foreclosure Agreement) or the effective date of the Company’s chapter 11 plan of reorganization if the Backup
Transaction is consummated, as applicable), which shall be no earlier than at least one (1) Business Day following conclusion of the Solicitation Period. 

 

	 	(s)	 “Company” has the meaning set forth in the recitals of this Agreement. 

 

	 	(t)	 “Consent Premium” means $20 million cash. 

 

	 	(u)	 “Consent Agreement” has the meaning set forth in the recitals of this Agreement.

  

	 	(v)	 “Credit Agreement” has the meaning set forth in the recitals of this Agreement.

  

	 	(w)	 “Definitive Documents” means all documents (including, without limitation, the Strict
Foreclosure Direction, the Strict Foreclosure Agreement, the Mutual Release Agreement, the Consent Agreement, the Questionnaire, the Backup Transaction Documents (as applicable), and any other related orders, agreements, instruments, schedules, or
exhibits) that are contemplated by this Agreement and that are otherwise necessary to implement, or otherwise relate to the Transaction, which Definitive Documents must be reasonably acceptable to both the Company and the Requisite Directing
Lenders; it being agreed that the forms of the Definitive Documents attached as Exhibits hereto and to the Term Sheet are reasonably acceptable to both the Company and the Requisite Directing Lenders. 

 

	 	(x)	 “Directing Lender” has the meaning set forth in the recitals of this Agreement.

  

	 	(y)	 “DPPO” means the $180,750,000 deferred purchase price obligation owed from SMLP to SMPH.

  

	 	(z)	 “Equity Interests” means, with respect to any Person, (i) any capital stock (including
common stock and preferred stock), limited liability company interests, partnership interests, or other equity, ownership, beneficial, or profits interests of such Person, and (ii) any options, warrants, securities, stock appreciation rights,
phantom units, incentives, commitments, calls, redemption rights, repurchase rights, or other agreements, arrangements, or rights of any kind that are convertible into, exercisable, or exchangeable for, or otherwise permit any Person to acquire, any
capital stock (including common stock and preferred stock), limited liability company interests, partnership interests, or other equity, ownership, beneficial, or profits interests of such Person. 

 

	 	(aa)	 “Event” means any event, change, effect, occurrence, development, circumstance, condition,
result, state of fact or change of fact. 

  
 5 

	 	(bb)	 “Governmental Entity” means any applicable federal, state, local or foreign government or any
agency, bureau, board, commission, court or arbitral body, department, political subdivision, regulatory or administrative authority, tribunal or other instrumentality thereof, or any self-regulatory organization. 

 

	 	(cc)	 “Initial Directing Lender” has the meaning set forth in the recitals of this Agreement.

  

	 	(dd)	 “Interpretive Guidance” has the meaning set forth in
Section 4(a)(iv)(B) of this Agreement. 

  

	 	(ee)	 “Joinder Agreement” means the form of joinder agreement attached to this Agreement as
Exhibit C. 

  

	 	(ff)	 “Kirkland” means, collectively, Kirkland & Ellis LLP and Kirkland & Ellis
International LLP, as counsel to the Company. 

  

	 	(gg)	 “Law” means, in any applicable jurisdiction, any applicable statute or law (including common
law), ordinance, rule, treaty, code or regulation and any decree, injunction, judgment, order, ruling, assessment, writ or other legal requirement, in any such case, of any applicable Governmental Entity. 

 

	 	(hh)	 “Loan Documents” has the meaning set forth in the recitals to this Agreement.

  

	 	(ii)	 “Material Adverse Effect” means any Event occurring after the date hereof that individually,
or together with all other Events occurring after the date hereof, has had, or would reasonably be expected to have, a material adverse effect on the ability of the Company or SMLP to perform their respective obligations under this Agreement or to
consummate the Transaction. 

  

	 	(jj)	 “Milestones” has the meaning set forth in Section 4(a)(iv).

  

	 	(kk)	 “Mutual Release Agreement” has the meaning set forth in the recitals to this Agreement.

  

	 	(ll)	 “Outside Date” means February 15, 2021, as may be extended by agreement between the
Requisite Directing Lenders and the Company. 

  

	 	(mm)	 “Other Claims” means any and all Claims against the Company, SMLP or any of their Affiliates,
other than any Term Loan Claims. 

  

	 	(nn)	 “Party” has the meaning set forth in the recitals to this Agreement. 

 

	 	(oo)	 “Permitted Transfer” means a transfer of any Term Loan Claim that meets the requirements of
Section 3(c). 

  

	 	(pp)	 “Permitted Transferee” means each transferee of any Term Loan Claim who meets the requirements
of Section 3(c). 

  
 6 

	 	(qq)	 “Person” means an individual, a partnership, a joint venture, a limited liability company, a
corporation, a trust, an unincorporated organization, a group, a Governmental Entity, or any legal entity or association. 

  

	 	(rr)	 “Pro Rata Share” means, other than in connection with the Consent Premium, with respect to
each Lender, an amount calculated on the basis of the aggregate principal amount of outstanding Loans held by such Lender (determined as of the Closing Date but immediately prior to giving effect to the consummation of the Strict Foreclosure) as a
percentage of the total amount of then-outstanding Loans held by all Term Loan Lenders in the aggregate. 

  

	 	(ss)	 “Qualified Marketmaker” means an entity that (i) holds itself out to the market as
standing ready in the ordinary course of business to purchase from and sell to customers Term Loan Claims, or enter with customers into long and/or short positions in Term Loan Claims, in its capacity as a dealer or market maker in such Term Loan
Claims, and (ii) is in fact regularly in the business of making a market in claims, interests and/or securities of issuers or borrowers. 

  

	 	(tt)	 “Questionnaire” means, if the Registration Statement is to be filed, the selling unitholder
questionnaire to be distributed by SMLP to Term Loan Lenders to obtain information with respect to the Directing Lenders and Transaction Consenting Lenders that is required to be included in the Registration Statement, the form of which is attached
to this Agreement as Exhibit D. 

  

	 	(uu)	 “Questionnaire Deadline” has the meaning set forth in Section 27.

  

	 	(vv)	 “Registrable Securities” means the Specified Collateral held by the Directing Lenders and the
Transaction Consenting Lenders, but only to the extent that such Persons become Directing Lenders or Transaction Consenting Lenders on or prior to the expiration of the Solicitation Period and provide SMLP with an executed Questionnaire on or prior
to the Questionnaire Deadline. Registrable Securities shall cease to be Registrable Securities when (i) a registration statement with respect to the sale of such securities shall have been declared effective under the Securities Act and such
securities shall have been disposed of in accordance with such registration statement, (ii) such securities are sold pursuant to Rule 144 (or any similar provisions then in force) under the Securities Act, (iii) such securities have been
otherwise transferred and a new certificate or other evidence of ownership for them that does not bear a legend restricting further transfer has been delivered to such transferee, or (iv) such securities shall have ceased to be outstanding.

  

	 	(ww)	 “Registration Statement” has the meaning set forth in Section 27.

  

	 	(xx)	 “Required Lenders” has the meaning set forth in the Credit Agreement. 

  
 7 

	 	(yy)	 “Requisite Directing Lenders” means, as of any date of determination, the Directing Lenders
who own or control as of such date at least a majority of the aggregate principal amount of the Term Loans Claims owned or controlled by all of the members of the Ad Hoc Group in the aggregate as of such date, provided, however, that
with respect to any (a) amendments to this Agreement or the Term Sheet, (b) waiver of any rights or obligations contained in this Agreement or the Term Sheet, including, without limitation, any of the conditions precedent contained herein
or in the Term Sheet, or (c) extensions of any of the Milestones, the Backup Transaction Toggle Date, or the Outside Date, then, in each case, Requisite Directing Lenders shall mean the Directing Lenders who own or control as of such date at
least 66% of the aggregate principal amount of the Term Loans Claims owned or controlled by all of the members of the Ad Hoc Group in the aggregate as of such date. 

 

	 	(zz)	 “Resale Registration” has the meaning set forth in Section 27.

  

	 	(aaa)	 “SEC” means the United States Securities and Exchange Commission. 

 

	 	(bbb)	 “Securities Act” means the Securities Act of 1933, as amended and including any rule or
regulation promulgated thereunder. 

  

	 	(ccc)	 “Seller Affiliates” has the meaning set forth in Section 27.

  

	 	(ddd)	 “Selling Expenses” means discounts and commissions payable to underwriters, selling brokers,
dealer managers or other similar Persons engaged in the distribution of any of the Registrable Securities. 

  

	 	(eee)	 “Solicitation Period” means the fourteen (14) calendar day period commencing within two
(2) Business Days of the TSA Effective Date, or such longer period as may be agreed to between the Requisite Directing Lenders and the Company, during which Term Loan Lenders can either (i) become Directing Lenders by execution of a
Joinder Agreement or (ii) become Transaction Consenting Lenders by executing a Consent Agreement; provided, however, that the Requisite Directing Lenders shall have the right in their discretion to require that the Solicitation Period be
extended by up to five (5) Business Days. 

  

	 	(fff)	 “SMGP” means Summit Midstream GP, LLC. 

 

	 	(ggg)	 “SMLP” has the meaning set forth in the recitals of this Agreement. 

 

	 	(hhh)	 “SMLP Contribution” has the meaning set forth in Section 5.

  

	 	(iii)	 “SMP” has the meaning set forth in the recitals of this Agreement. 

 

	 	(jjj)	 “SMPH” has the meaning set forth in the recitals of this Agreement. 

 

	 	(kkk)	 “Specified Collateral” means the 34,604,581 common units representing limited partner
interests in SMLP currently pledged to the Term Loan Agent, on behalf of the Term Loan Lenders, as collateral under the Credit Agreement; provided that the number of common units comprising the Specified Collateral shall be equitably adjusted
in the event of a unit split, reverse unit split, combination, reclassification, recapitalization, exchange, unit dividend, or other distribution payable in common units with respect to the Specified Collateral that occurs prior to the Closing Date.

  
 8 

	 	(lll)	 “Strict Foreclosure” means the delivery to the Term Loan Lenders of the Specified Collateral
in accordance with Article 9 of the Uniform Commercial Code and the terms set forth in the Strict Foreclosure Agreement, which together with the Additional Consideration, shall be in full satisfaction of the Company’s obligations under the
Credit Agreement (exclusive of any obligations contained therein that survive termination of the Credit Agreement in accordance with the terms set forth herein and in the Definitive Documents). 

 

	 	(mmm)	 “Strict Foreclosure Agreement” has the meaning set forth in the recitals of this Agreement.

  

	 	(nnn)	 “Strict Foreclosure Direction” has the meaning set forth in the recitals of this Agreement.

  

	 	(ooo)	 “Stroock” means Stroock & Stroock & Lavan LLP as counsel to the Ad Hoc
Group. 

  

	 	(ppp)	 “Support Period” means, with respect to any Party, the period commencing on the TSA Effective
Date applicable to such Party and ending on the date on which this Agreement is terminated in accordance with Section 6. 

  

	 	(qqq)	 “Term Loan Agent” means Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and
Collateral Agent for the Term Loan Lenders under the Credit Agreement. 

  

	 	(rrr)	 “Term Loan Agent Advisors” means, collectively, (i) Simpson Thacher & Bartlett
LLP, as counsel to the Term Loan Agent, and (ii) such other professionals that may be retained by or on behalf of the Term Loan Agent; provided, however, that such other professionals’ fees and expenses, if any, shall be considered
Term Loan Agent Fees and Expenses only upon the Company’s written consent, which consent shall not be unreasonably withheld. 

  

	 	(sss)	 “Term Loan Agent Fees and Expenses” means all reasonable and documented fees and expenses of
the Term Loan Agent, including, without limitation, the reasonable and documented fees and all out-of-pocket costs and expenses of Simpson Thacher & Bartlett
LLP, and, to the extent the Company has provided written consent in accordance with the definition of “Term Loan Agent Advisors”, any other Term Loan Agent Advisors, in each case, in connection with the negotiation, formulation,
preparation, execution, delivery, implementation, consummation, and/or enforcement of this Agreement, the Term Sheet, the Transaction, and/or any of the other Definitive Documents, and/or any of the transactions contemplated by (and/or any
amendments, waivers, consents, supplements or other modifications to) any of the foregoing. 

  
 9 

	 	(ttt)	 “Term Loan Lenders” means the lenders party to the Credit Agreement as of the Closing Date.

  

	 	(uuu)	 “Term Loan Claims” means all claims held by the Term Loan Lenders party to the Credit
Agreement derived from, based upon, or secured pursuant to the Loan Documents, including the approximately $155.2 million in principal amount outstanding, plus all interest, fees, expenses, costs, and other charges arising under or related to
the Obligations (as defined in the Credit Agreement). 

  

	 	(vvv)	 “Term Sheet” has the meaning set forth in the recitals of this Agreement.

  

	 	(www)	 “Transaction” has the meaning set forth in the recitals to this Agreement.

  

	 	(xxx)	 “Transaction Consenting Lender” means any holder of Term Loan Claims who has duly executed the
Consent Agreement. 

  

	 	(yyy)	 “Transfer” means sell, use, pledge, assign, transfer, permit the participation in, or dispose
of. 

  

	 	(zzz)	 “Transferee” has the meaning ascribed to such term in Section 3(c).

  

	 	(aaaa)	 “Transfer Agreement” means the form of transfer agreement attached to this Agreement as
Exhibit B. 

  

	 	(bbbb)	 “TSA Effective Date” has the meaning set forth in Section 13.

  

	 	(cccc)	 “UCC” means the Uniform Commercial Code, as adopted in the State of New York, and solely to
the extent applicable to the transactions contemplated hereby, as adopted in other states, 

 This Agreement is the
product of negotiations among the Parties, and the enforcement or interpretation hereof is to be interpreted in a neutral manner, and any presumption with regard to interpretation for or against any Party by reason of that Party having drafted or
caused to be drafted this Agreement or any portion hereof shall not be effective in regard to the interpretation hereof. For purposes of this Agreement: 
  

	 	(a)	 in the appropriate context, each term, whether stated in the singular or the plural, shall include both the
singular and the plural; 

  

	 	(b)	 capitalized terms defined only in the plural or singular form shall nonetheless have their defined meanings
when used in the opposite form; 

  

	 	(c)	 unless otherwise specified, any reference herein to a contract, lease, instrument, release, indenture, or other
agreement or document being in a particular form or on particular terms and conditions means that such document shall be substantially in such form or substantially on such terms and conditions; 

  
 10 

	 	(d)	 unless otherwise specified, any reference herein to an existing document, schedule, or exhibit shall mean such
document, schedule, or exhibit as it may have been or may be amended, restated, supplemented, or otherwise modified from time to time; provided that any capitalized terms herein which are defined with reference to another agreement, are
defined with reference to such other agreement as of the date of this Agreement, without giving effect to any termination of such other agreement or amendments to such capitalized terms in any such other agreement following the date hereof;

  

	 	(e)	 unless otherwise specified, all references herein to “Sections” are references to Sections of this
Agreement; 

  

	 	(f)	 the words “herein,” “hereof,” and “hereto” refer to this Agreement in its
entirety rather than to any particular portion of this Agreement; 

  

	 	(g)	 captions and headings to Sections, paragraphs, and subsections of this Agreement are inserted for convenience
only and shall not affect the interpretation hereof or, for any purpose, be deemed a part of this Agreement; 

  

	 	(h)	 references to “shareholders,” “directors,” and/or “officers” shall also include
“members” and/or “managers,” as applicable, as such terms are defined under the applicable limited liability company laws; and 

  

	 	(i)	 the use of “include” or “including” is without limitation, whether stated or not.

 The Term Sheet is expressly incorporated herein by reference and made part of this Agreement as if fully set forth
herein. The Term Sheet sets forth the material terms and conditions of the Transaction; provided, however, the Term Sheet is supplemented by the terms and conditions of this Agreement and the other Definitive Documents (as applicable).

 Section 2. Definitive Documents.  

Each of the Definitive Documents shall, upon effectiveness, contain terms, conditions, representations, warranties, and covenants consistent in
all respects with the terms of this Agreement, including the Term Sheet, as this Agreement (including the Term Sheet) may be modified, amended, or supplemented pursuant to Section 12. 

Section 3. Agreements of the Directing Lenders. 
  

	 	(a)	 Transaction Support. During the Support Period, subject to the terms and conditions hereof, each
Directing Lender agrees, severally and not jointly, with respect to all claims held, that it shall: 

  

	 	(i)	 support and, at the Company’s sole expense, take all commercially reasonable actions necessary or
reasonably requested by the Company to facilitate the consummation of the Transaction in accordance with the terms, conditions, and applicable deadlines set forth in this Agreement; provided that, other than as explicitly set forth herein, no
Directing Lender shall be required to take any such action requested by the Company (other than execution and delivery of the Strict Foreclosure Direction) that would impose any material liability or obligation on such Directing Lender;

  
 11 

	 	(ii)	 negotiate in good faith the applicable Definitive Documents consistent with the terms of this Agreement and the
Term Sheet; 

  

	 	(iii)	 not direct the Term Loan Agent to take any action nor solicit, encourage, or support any other person to take
any action inconsistent with such Directing Lender’s obligations under this Agreement; 

  

	 	(iv)	 execute and deliver the Strict Foreclosure Direction to the Term Loan Agent consistent with the terms of this
Agreement and the Term Sheet; 

  

	 	(v)	 (A) not take any action, directly or indirectly, that would reasonably be expected to prevent, interfere with,
materially delay, or impede, the consummation of the Transaction; (B) not directly or indirectly propose, file, support, vote for, consent to, or take any other action in furtherance of the negotiation or formulation of any Alternative
Transaction; and (C) not, nor direct any other person to, take any action that would, or would reasonably be expected to, breach this Agreement, or object to, or materially and intentionally delay, or take any other negative action, directly or
indirectly, to interfere with the implementation of the Transaction; and 

  

	 	(vi)	 not, and shall not direct any other person to, exercise any right or remedy for the enforcement, collection, or
recovery of any of the Term Loan Claims against the Company, including in connection with any payment obligations of the Company under the Credit Agreement that come due during the Support Period, other than in accordance with this Agreement and/or
the Definitive Documents; provided, however, that nothing in this clause (vi) shall require the Directing Lenders to waive any Default (as defined in the Credit Agreement) or Event of Default (as defined in the Credit Agreement)
or any of the obligations arising under the Loan Documents; provided, further, that, other than as expressly set forth herein, each party to this Agreement shall forbear from exercising its respective rights or remedies under or with
respect to the Credit Agreement and the other Loan Documents during the Support Period, and no party to this Agreement shall request that the Term Loan Agent exercise rights or remedies under or with respect to the Credit Agreement or the other Loan
Documents during the Support Period, in each case to the extent inconsistent with this Agreement. 

 Unless otherwise
expressly set forth herein or in the Term Sheet, no Directing Lender shall be required to incur, assume, become liable in respect of, or suffer to exist any expenses, liabilities, or other obligations, or agree to or become bound by any commitments,
undertakings, concessions, indemnities, or other arrangements that could result in expenses, liabilities, or other obligations to such Directing Lender. 

  
 12 

	 	(b)	 Rights of Directing Lenders Unaffected. 

 

	 	(i)	 Except as expressly set forth herein, nothing contained herein, or in any of the confidentiality agreements in
place between the Company, each of the Directing Lenders, and their respective advisors, shall: 

  

	 	(A)	 limit (A) the rights of Directing Lenders under any applicable bankruptcy, insolvency, foreclosure, or
similar proceeding, in each case, so long as the exercise of any such right is not inconsistent with such Directing Lender’s obligations hereunder; (B) the ability of a Directing Lender to purchase, sell, or enter into any transactions
regarding the Term Loan Claims, subject to the terms hereof; (C) any right or remedy of any Directing Lender under, as applicable, any of the Loan Documents; (D) the ability of a Directing Lender to consult with any of the other Parties;
or (E) the ability of a Directing Lender to enforce any right, remedy, condition, consent, or approval requirement under this Agreement or any of the Restructuring Documents; 

 

	 	(B)	 constitute a waiver or amendment of any term or provision of (y) any of the Loan Documents, as applicable,
or (z) any other agreement, instrument, or document that gives rise to a Directing Lender’s Term Loan Claims; or 

  

	 	(C)	 constitute a termination or release of any liens granted in connection with the Term Loan Claims.

  

	 	(ii)	 Nothing contained herein, or in any of the confidentiality agreements in place between the Company, each of the
Directing Lenders, and their respective advisors, shall restrict the Ad Hoc Group Advisors or the Directing Lenders from engaging in discussions or communications amongst themselves. 

 

	 	(c)	 Transfers. During the Support Period, subject to the terms and conditions hereof, each Directing Lender
agrees, solely with respect to itself, that it shall not directly or indirectly Transfer any ownership (including any beneficial ownership)1 in its Term Loan Claims, or any option thereon or any
right or interest therein (including by granting any proxies or depositing any interests in such Term Loan Claims into a voting trust or by entering into a voting agreement with respect to such Term Loan Claims), unless the intended transferee (the
“Transferee”) (A) is 

  

	1 	 As used herein, the term “beneficial ownership” means the direct or indirect economic
ownership of, and/or the power, whether by contract or otherwise, to direct the exercise of the voting rights and the disposition of, the Term Loan Claims or the right to acquire such Term Loan Claims.

  
 13 

	 	
a Directing Lender and provides notice of such Transfer (including the amount and type of Term Loan Claim to be Transferred) to Kirkland and Stroock by delivery of an executed Transfer Agreement
at or before the time of such Transfer or (B) executes and delivers to Kirkland and Stroock an executed Joinder Agreement at or before the time of such Transfer (it being understood that any Transfer shall be void ab initio and shall not
be effective as against the Company or with respect to this Agreement or the transactions contemplated herein until notification of such Transfer and a copy of the executed Joinder Agreement has been received by Kirkland and Stroock, in each case,
on the terms set forth herein). 

  

	 	(i)	 This Agreement shall in no way be construed to preclude the Directing Lenders from acquiring additional Term
Loan Claims; provided that (A) any Directing Lender that acquires additional Term Loan Claims during the Support Period shall promptly notify Kirkland and Stroock of such acquisition, including the amount acquired, and (B) such
acquired Term Loan Claims shall automatically and immediately upon acquisition by a Directing Lender be deemed to be subject to the terms of this Agreement (regardless of when or whether notice of such acquisition is given to Kirkland and Stroock).

  

	 	(ii)	 This Section 3(c) shall not impose any obligation on the Company to issue any
“cleansing letter” or otherwise publicly disclose information for the purpose of enabling a Directing Lender to Transfer any Term Loan Claims. Notwithstanding anything to the contrary herein, to the extent the Company and another
Party have entered into a separate agreement with respect to the issuance of a “cleansing letter” or other public disclosure of information, the terms of such agreement shall continue to apply and remain in full force and effect according
to its terms. 

  

	 	(iii)	 Any Transfer made in violation of this Section 3(c) shall be void ab initio.
Upon the completion of any Transfer of Term Loan Claims in accordance with this Section 3(c), the Permitted Transferee shall be deemed a Directing Lender hereunder with respect to such transferred Term Loan Claims and the
transferor shall be deemed to relinquish its rights and claims (and be released from its obligations under this Agreement) with respect to such transferred Term Loan Claims; provided that if such transferor retains any rights related to such
transferred Term Loan Claims, such transferor shall remain subject to the provisions of this Agreement with respect to such rights. 

  

	 	(iv)	 Each Directing Lender agrees to provide, on three (3) business days’ notice, its current holdings of
Term Loan Claims to Kirkland and Stroock on a professionals’ eyes only basis. 

  
 14 

	 	(v)	 For the avoidance of doubt, the provisions of this Section 3(c), only apply to the
Directing Lenders’ Term Loan Claims and do not apply to any other Claims and Interests of any Directing Lender. 

  

	 	(d)	 Qualified Market Maker. Notwithstanding anything herein to the contrary, any Directing Lender may
transfer any of its Term Loan Claims to an entity that is acting in its capacity as a Qualified Marketmaker without the requirement that the Qualified Marketmaker be or become a Directing Lender; provided that each Directing Lender will
provide prompt notice of any such Transfer to Kirkland and Stroock in accordance with Section 3(c) hereof; provided further, however, that the Qualified Marketmaker subsequently transfers all right, title, and interest in such Term Loan
Claims to a Transferee that is or becomes a Directing Lender as provided above, and the Transfer documentation between the transferor Directing Lender and such Qualified Marketmaker shall contain a requirement that provides as such and to the extent
any Directing Lender is acting in its capacity as a Qualified Marketmaker, it may Transfer any Term Loan Claims that it acquires from a holder of such Term Loan Claims that is not a Directing Lender without the requirement that the Transferee be or
become a Directing Lender. Notwithstanding the foregoing, if, prior to the time of the proposed Transfer of any Term Loan Claims to a Qualified Marketmaker, the holder of such Term Loan Claims (x) is required to execute the Strict Foreclosure
Direction, the proposed transferor Directing Lender must first comply with the requirements of Section 3(a) hereof, or (y) has not yet been required to execute the Strict Foreclosure Direction and such Qualified Marketmaker does not
Transfer such Term Loan Claims to a subsequent Transferee prior to the fifth (5th) Business Day prior to the expiration of the Solicitation Period (such date, the “Qualified Marketmaker Joinder Date”), such Qualified Marketmaker
shall be required to (and the Transfer documentation to the Qualified Marketmaker shall have provided that it shall), on the first (1st) Business Day immediately following the Qualified Marketmaker Joinder Date, become a Directing Lender with
respect to such Term Loan Claims in accordance with the terms hereof. 

 Section 4. Agreements of the Company. 

 

	 	(a)	 Transaction Support. During the Support Period, subject to the terms and conditions of this Agreement,
including without limitation Section 9, the Company (or in the case of Sections 4(a)(iv)(B) and 4(a)(iv)(C), SMLP) agrees that it shall: 

 

	 	(i)	 support and take all commercially reasonable actions necessary or reasonably requested by the Requisite
Directing Lenders to support the Transaction and to act in good faith and take all reasonable actions necessary to implement and consummate the Transaction in accordance with the terms, conditions, and applicable deadlines set forth in this
Agreement and the Term Sheet and the other Definitive Documents, as applicable; 

  
 15 

	 	(ii)	 implement and consummate the Transaction in a timely manner and take any and all commercially reasonable
efforts in furtherance of the Transaction, as contemplated under this Agreement; provided that the Company shall not consummate the Transaction unless and until all of the conditions to the effectiveness thereof set forth herein and/or in the
Term Sheet have been satisfied (or will be satisfied contemporaneously with the consummation of the Transaction) or waived by the Requisite Directing Lenders in accordance with Section 12 hereof; 

 

	 	(iii)	 negotiate in good faith the applicable Definitive Documents consistent with the terms of this Agreement and the
Term Sheet; 

  

	 	(iv)	 comply with each of the following milestones (the “Milestones”), which Milestones may be
extended (but with no obligation to extend) only with the express prior written consent of the Requisite Directing Lenders in accordance with Section 12 hereof (which consent can be provided via e-mail from the Ad Hoc Group Advisors): 

  

	 	(A)	 no later than two (2) Business Days following the TSA Effective Date. commence a solicitation of Term Loan
Lenders to execute (x) either (1) the Strict Foreclosure Direction (and a Joinder Agreement, in the case of those Term Loan Lenders that are not Initial Directing Lenders) or (2) in the case of Term Loan Lenders that are not Initial
Directing Lenders, a Consent Agreement and (y) the Mutual Release Agreement; 

  

	 	(B)	 no later than two (2) Business Days following the TSA Effective Date, begin the process of seeking
interpretive guidance from the SEC, which may take the form of a request for No Action Letter or other customary definitive interpretive action (“Interpretive Guidance”), concerning the applicability of Rule 144(d)(3)(iv) of the
Securities Act; 

  

	 	(C)	 file the Registration Statement with the SEC no later than five (5) Business Days following the latest of
(1) the conclusion of the Solicitation Period, provided that the Registration Statement shall not be filed unless holders of at least 73% of the aggregate principal amount of all Term Loan Claims outstanding and at least two
(2) Term Loan Lenders that are not Affiliates of each other, Affiliates of the Company or Affiliates of the Initial Directing Lenders shall become Directing Lenders or Transaction Consenting Lenders by executing a Joinder Agreement or a Consent
Agreement prior to the end of the Solicitation Period and (2) the occurrence of the Questionnaire Deadline (provided that the Registration Statement may be filed prior to the Questionnaire Deadline if SMLP commits to amend the Registration
Statement prior to its effectiveness to include all Directing Lenders and 

  
 16 

	 	
Transaction Consenting Lenders as of the expiration of the Solicitation Period that return completed Questionnaires prior to the Questionnaire Deadline); provided that the Registration
Statement shall not be filed, and the Milestone contemplated by this Section 4(a)(iv)(C) shall be tolled, for so long as the Company is using reasonable best efforts to pursue the Interpretive Guidance in accordance with
the terms of this Agreement; provided further that, in such an event, such obligation to file the Registration Statement shall apply upon the mutual good faith agreement among the Company and the Requisite Directing Lenders, based on the
advice of counsel, that the Interpretive Guidance either (x) is not reasonably expected to be delivered in a timely manner, prior to the Backup Transaction Toggle Date, or at all or (y) would not reasonably be expected to support the
availability of Rule 144 with respect to sales of the Specified Collateral by the Directing Lenders and the Transaction Consenting Lenders immediately after the Closing Date, in which case the Company shall file the Registration Statement with the
SEC no later than five (5) Business Days following such mutual agreement; 

  

	 	(D)	 provided that the Backup Transaction Toggle Date has occurred and the Company has agreed in writing to
consummate the Backup Transaction, commence chapter 11 proceedings on behalf of the Company no later than December 21, 2020, or such other date as may be agreed to by both the Requisite Directing Lenders and the Company; and

  

	 	(E)	 have caused the Closing Date to occur no later than (i) the Backup Transaction Toggle Date (unless the
Company has agreed in writing to consummate the Backup Transaction) or (ii) the Outside Date. 

  

	 	(v)	 (A) conduct its businesses and operations only in the ordinary course in a manner that is materially consistent
with past practices and in compliance with law, (B) maintain its physical assets, properties, and facilities in their working order condition and repair as of the TSA Effective Date, in the ordinary course, in a manner that is consistent with
past practices, and in compliance with Law (ordinary wear and tear and casualty and condemnation excepted), (C) maintain its books and records in the ordinary course, in a manner that is materially consistent with past practices, and in compliance
with Law, (D) maintain all insurance policies, or suitable replacements therefor, in full force and effect, in the ordinary course, in a manner that is materially consistent with past practices, and in compliance with Law, and (E) use
commercially reasonable efforts to preserve intact its business organizations and relationships with third parties (including creditors, lessors, licensors, suppliers, distributors and customers) and employees in the ordinary

  
 17 

	 	
course, in a manner that is consistent in all material respects with past practices, and in compliance with Law; provided that any actions permitted to be taken by the Company in
accordance with the Credit Agreement, including, without limitation, reasonably defending against, or entering into agreements to settle any claim, litigation, investigation or proceeding, shall be compliant with the requirements set forth in this
subsection; 

  

	 	(vi)	 notify the Directing Lenders within three (3) Business Days after obtaining actual knowledge thereof of
(A) any Governmental Entity or other third party complaints, litigations, investigations, hearings or objections (or written communications indicating that the same may be contemplated or threatened) challenging the Strict Foreclosure or any of
the other transactions contemplated by this Agreement or any other Definitive Document or seeking to enjoin, restrain or prohibit the Strict Foreclosure or any of the other transactions contemplated by this Agreement or any other Definitive Document
or the consummation of the transactions contemplated hereby or thereby; (B) any material breach by the Company or SMLP in any respect of any of its obligations, representations, warranties or covenants set forth in this Agreement or any other
Definitive Document; (C) any Material Adverse Effect; and (D) the happening or existence of any event that shall have made any of the conditions precedent set forth in Section 9 herein, incapable of being
satisfied prior to the Outside Date; 

  

	 	(vii)	 if the Company receives an unsolicited proposal or expression of interest with respect to an Alternative
Transaction, within 72 hours of the receipt of such proposal or expression of interest, notify the Ad Hoc Group Advisors of the receipt thereof, with such notice to include the material terms thereof; 

 

	 	(viii)	 support and use commercially reasonable efforts to obtain any and all required regulatory and/or third-party
approvals to consummate the Transaction; 

  

	 	(ix)	 subject to Section 9, (A) not take any action that is inconsistent in any material
respect with, or is intended to frustrate or impede approval, implementation and consummation of the Transaction, (B) not object to, delay, impede, or take any other action to interfere with acceptance, implementation, or consummation of the
Transaction, or (C) not seek, solicit, support, encourage, propose, assist, consent to, vote for, enter or participate in any discussions or any agreement with any Person regarding, pursue, or consummate any Alternative Transaction;

  
 18 

	 	(x)	 not, directly or indirectly, announce publicly, or announce to any of the Parties or other holders of Claims
and Interests, its intention not to support the Transaction or take any other action that would, or would reasonably be expected to, prevent, interfere with, delay or impede the implementation or consummation of the Transaction, including, but not
limited to, (A) initiating any proceeding or taking any other action to oppose the execution or delivery of any of the Definitive Documents, the performance of any obligations of any party to any of the Definitive Documents or the consummation
of the transactions contemplated by any of the Definitive Documents, (B) initiating any proceeding or taking any other action to amend, supplement or otherwise modify any of the Definitive Documents, which amendment, modification or supplement
is not materially consistent with this Agreement and the Term Sheet, or otherwise acceptable to the Requisite Directing Lenders, (C) initiating any proceeding or taking any other action, or exercising or seeking to exercise any rights
(including rights under the Delaware Limited Liability Company Act or Limited Partnership Act or other applicable Law) or remedies as a holder of Claims and Interests, that is barred by or is otherwise inconsistent with this Agreement, the Term
Sheet or any of the other Definitive Documents; provided, however, that nothing contained herein shall prohibit or restrict the Company from entering into an Alternative Transaction that results from an unsolicited proposal or
expression of interest received by the Company if not doing so would be inconsistent with the exercise of the fiduciary duties of the board of directors of the Company under applicable Law, or (D) (i) preparing or commencing an action or other
legal Proceeding that challenges (x) the amount, validity, allowance, character, enforceability, or priority of any Term Loans Claims or (y) the validity, enforceability, or perfection of any lien or other encumbrance securing any Term
Loan Claims, or (ii) support any third party in connection with any of the acts described in clause (i); 

  

	 	(xi)	 not execute, deliver, launch, and/or file any Definitive Document (including any amendment, supplement or
modification of, or any waiver to, any Definitive Document) that, in whole or in part, is not consistent in all material respects with this Agreement; 

  

	 	(xii)	 not (A) amend or propose to amend any of its organization documents other than in connection with the
consummation of the Transaction or (b) engage in any merger, consolidation, disposition, acquisition, investment, dividend, incurrence of indebtedness, or other similar transaction outside of the ordinary course of business other than the
Transaction; and 

  

	 	(xiii)	 not (A) incur any liens, security interests or encumbrances, other than as expressly permitted by the Loan
Documents, (B) pay, or agree to pay, any indebtedness, liabilities, or other obligations (including any accounts payable or trade payable) that existed prior to the TSA Effective Date or that arose from any matter, occurrence, action, omission,
or circumstance that occurred prior to the TSA Effective Date, other than as expressly permitted by the Loan Documents, (C) make any investments, acquire any assets, or dispose or sell any assets, other than as expressly permitted by the Loan
Documents or (d) use or otherwise dispose of the SMLP Contribution in a manner inconsistent with this Agreement. 

  
 19 

 Section 5. SMLP Contribution. 

On or prior to the Closing Date, SMLP shall, in full satisfaction of the DPPO, transfer to SMPH cash equal to the Consent Premium plus the
Additional Consideration (the “SMLP Contribution”). 
 Section 6. Termination of Agreement. 

 

	 	(a)	 Automatic Termination. This Agreement shall terminate automatically, without any further action required
by any Party, upon the occurrence of the Closing Date. 

  

	 	(b)	 Directing Lender Termination Events. On any date prior to the Closing Date, this Agreement may be
terminated by the Requisite Directing Lenders by the delivery to each of the other Parties of a written notice in accordance with Section 22, stating in reasonable detail the basis for such termination, upon the occurrence
and continuation of any of the following events: 

  

	 	(i)	 the breach by the Company or SMLP, of (A) any affirmative or negative covenant contained in this Agreement
or any other Definitive Document or (B) any other obligations of the Company or SMLP set forth in this Agreement or any other Definitive Document, in each case, in any material respect; provided, however, that in the case of any
such breach that is capable of being cured, such breach shall not entitle the Requisite Directing Lenders to terminate this Agreement unless such breach continues for a period of at least three (3) Business Days following receipt by the Company
or SMLP, as applicable, of a written notice of breach pursuant to Section 22 (which written notice shall set forth in detail the alleged breach) (it being understood and agreed that the failure by the Company or SMLP to
comply with any of the Milestones set forth in Section 4(a)(iv) by the deadlines set forth therein shall not be subject to cure); 

  

	 	(ii)	 the breach in any material respect by the Company or SMLP of any of its representations or warranties in this
Agreement, which breach remains uncured for a period of three (3) Business Days following receipt by the Company or SMLP, as applicable, of a written notice pursuant to Section 22 (which written notice shall set forth
in detail the alleged failure of the representation or warranty); 

  

	 	(iii)	 the issuance by any governmental authority, including any regulatory authority or court of competent
jurisdiction, of any ruling, judgment, or order enjoining the consummation of or rendering illegal the Strict Foreclosure or the Transaction or any material portion thereof, and such ruling, judgment, or order has not been reversed or vacated within
fourteen (14) calendar days after such issuance; 

  
 20 

	 	(iv)	 the Company or SMLP publicly announces, or announces to any of the Parties or other holders of Claims and
Interests, its intention to withdraw from the Transaction or the Strict Foreclosure or not support the Transaction or Strict Foreclosure or to support an Alternative Transaction; 

 

	 	(v)	 SMLP or the Company, without the consent of the Requisite Directing Lenders (A) commences a voluntary case
under the Bankruptcy Code (other than pursuant to an agreed upon Backup Transaction); (B) consents to the appointment of, or taking possession by, a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of
SMLP or the Company or the property or assets of SMLP or the Company; (C) seeks any arrangement, adjustment, protection or relief of its debts; or (D) makes any general assignment for the benefit of its creditors; 

 

	 	(vi)	 (A) the commencement of an involuntary case against SMLP or the Company under the Bankruptcy Code, or
(B) a court of competent jurisdiction enters a ruling, judgment or order that appoints, or that authorizes or permits, the taking of possession by, a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of
SMLP or the Company or the property or assets of SMLP or the Company; provided that the Requisite Directing Lenders may not terminate their obligations under this Agreement if the events set forth in this Section 6(b)(vi) occur as a
result of any action by a Directing Lender; 

  

	 	(vii)	 the SMLP Contribution is not made when required by this Agreement; 

 

	 	(viii)	 the occurrence of a Material Adverse Effect; 

 

	 	(ix)	 the Company or SMLP executes definitive documentation that seeks, solicits, proposes or supports an Alternative
Transaction; 

  

	 	(x)	 any Definitive Document or Backup Transaction Document shall be executed by the Company or SMLP, or shall be
amended or otherwise modified, in a form inconsistent with the standards set forth in Section 2; 

  

	 	(xi)	 the Company or SMLP gives notice pursuant to Section 9 that it will not comply with
its obligations hereunder; 

  

	 	(xii)	 the occurrence of a Default or Event of Default (as those terms are used in the Credit Agreement) other than a
Default or Event of Default contemplated by, arising from or related to actions taken by the Company as required by this Agreement (including, for the avoidance of doubt, any Event of Default pursuant to sections 7.01(b), (c) and (d) (solely with
respect to an Event of Default arising from a failure to comply with section 6.11 of the Credit Agreement) of the Credit Agreement); 

  

	 	(xiii)	 the Closing Date does not occur on or prior to the Backup Transaction Toggle Date and the Company fails to
notify the Directing Lenders, in writing (email shall be sufficient) that it will consummate the Backup Transaction; or 

  
 21 

	 	(xiv)	 the Closing Date does not occur on or before the Outside Date. 

 

	 	(c)	 Company Termination Events. This Agreement may be terminated by the Company by the delivery to each of
the other Parties of a written notice in accordance with Section 22, stating in reasonable detail the reasons for such termination, upon the occurrence and continuation of any of the following events: 

 

	 	(i)	 the breach by any Party other than the Company or SMLP of (A) any affirmative or negative covenant
contained in this Agreement or (B) any other obligations of such breaching Party set forth in this Agreement, in each case, in any material respect and which breach is continuing for a period of three (3) Business Days following such
breaching Party’s receipt of a written notice of breach from the Company pursuant to Section 22 (which written notice shall set forth in detail the alleged breach); 

 

	 	(ii)	 the breach in any material respect by any Party other than the Company or SMLP of any of its respective
representations or warranties in this Agreement, which breach remains uncured for a period of three (3) Business Days following such breaching Party’s receipt of a written notice pursuant to Section 22 (which
written notice shall set forth in detail the alleged failure of the representation or warranty); 

  

	 	(iii)	 the issuance by any governmental authority, including any regulatory authority or court of competent
jurisdiction, of any ruling, judgment, or order enjoining the consummation of or rendering illegal the Strict Foreclosure or the Transaction or any material portion thereof, and such ruling, judgment, or order has not been reversed or vacated within
fourteen (14) calendar days after such issuance; 

  

	 	(iv)	 any Definitive Document shall be executed by the Requisite Directing Lenders, or shall be amended or otherwise
modified by the Requisite Directing Lenders, in a form inconsistent with the standards set forth in Section 2; or 

  

	 	(v)	 the board of directors, board of managers, or such similar governing body of the Company, after consulting with
outside counsel, determines that proceeding with the transactions contemplated by this Agreement (including taking any action or refraining from taking any action) would be inconsistent with the exercise of its fiduciary duties under applicable law.

  

	 	(d)	 Mutual Termination. This Agreement may be terminated by mutual agreement of the Company and the
Requisite Directing Lenders upon the receipt of written notice delivered in accordance with Section 22. 

  
 22 

	 	(e)	 Effect of Termination. 

 

	 	(i)	 The earliest date on which termination of this Agreement is effective in accordance with this Section 6
shall be referred to as a “Termination Date.” 

  

	 	(ii)	 Except as provided in Section 17, upon the occurrence of the Termination Date or a
termination pursuant to Section 6(a), Section 6(b), Section 6(c), or Section 6(d), all Parties’ obligations under this Agreement shall be
terminated effective immediately and, in each case, such Party or Parties shall be immediately released from its liabilities, obligations, commitments, undertakings, and agreements under or related to this Agreement and shall have all the rights and
remedies that it would have had and shall be entitled to take all actions, whether with respect to the Transaction or otherwise, that it would have been entitled to take had it not entered into this Agreement; provided that in no event shall
any such termination relieve a Party from any obligations under this Agreement which expressly survive termination pursuant to Section 17 or a Party from liability for its breach or
non-performance of its obligations hereunder prior to the date of such termination. Upon any Termination Date, any direction or consent given by a Directing Lender prior to such termination shall
automatically be deemed, for all purposes, to be null and void ab initio and shall not be considered or otherwise used in any manner by the Parties in connection with the Transaction and this Agreement and such directions and consents may be
changed (without the need to seek an order of a court of competent jurisdiction or consent from the Company or any other applicable Party allowing such change). 

Section 7. Definitive Documents; Good Faith Cooperation; Further Assurances. 

Subject to the terms and conditions described herein, during the Support Period, each Party, severally and not jointly, hereby covenants and
agrees to reasonably cooperate with each other in good faith in connection with the negotiation, drafting, execution and delivery (in the case of execution and delivery, to the extent such Party is a party thereto) of the Definitive Documents in
accordance with Section 2 hereof. In addition, each Party, severally and not jointly, hereby covenants and agrees to reasonably cooperate and consult with each other in good faith with respect to the Interpretive Guidance
and to keep the other Parties or their counsel reasonably informed of any communications from the SEC with respect thereto; provided that, unless otherwise agreed among the Company and the Requisite Directing Lenders, the Company shall
control the timing, nature and substance of any filings, submissions and communications made in connection therewith. Furthermore, subject to the terms and conditions hereof, each of the Parties shall take such action as may be reasonably necessary
or reasonably requested by the other Parties to carry out the purposes and intent of this Agreement, including making and filing any required regulatory filings. 

  
 23 

 Section 8. Representations and Warranties.  

 

	 	(a)	 Mutual Representations and Warranties. Each Party, severally and not jointly, represents and warrants to
the other Parties that the following statements are true, correct, and complete as of the date hereof (or as of the date such Party becomes a party hereto): 

  

	 	(i)	 such Party is validly existing and in good standing under the laws of its jurisdiction of incorporation or
organization, and has, as applicable, all requisite corporate, partnership, limited liability company, or similar authority to enter into this Agreement and carry out the transactions contemplated hereby and perform its obligations contemplated
hereunder; and the execution and delivery of this Agreement and the performance of such Party’s obligations hereunder have been duly authorized by, as applicable, all necessary corporate, limited liability company, partnership, or other similar
action on its part; 

  

	 	(ii)	 the execution, delivery, and performance by such Party of this Agreement does not and will not (A) violate
any provision of law, rule, or regulation applicable to it, its charter, or bylaws (or other similar governing documents), or (B) conflict with, result in a breach of, or constitute a default under any material contractual obligation to which
it is a party; 

  

	 	(iii)	 the execution, delivery, and performance by such Party of this Agreement, except as expressly provided in this
Agreement (including the Term Sheet), does and will not require the consent or approval by any other person or entity, except for any consent or approval obtained prior to, or contemporaneously with, the TSA Effective Date; and

  

	 	(iv)	 this Agreement is the legally valid and binding obligation of such Party, enforceable against it in accordance
with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium, or other similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability or a
ruling of a court of competent jurisdiction. 

  

	 	(b)	 Directing Lenders’ Representations and Warranties. Each Directing Lender, severally
and not jointly, represents and warrants to the Company that, as of the date hereof (or as of the date such Directing Lender becomes a party hereto), such Directing Lender: 

 

	 	(i)	 is the beneficial owner of the aggregate principal amount of Term Loan Claims set forth below its name on the
signature page hereof (or below its name on the signature page of a Joinder Agreement for any Directing Lender that becomes a party hereto after the date hereof); and/or 

 

	 	(ii)	 does not directly or indirectly own any Term Loan Claims other than as identified below its name on its
signature page hereof. 

  
 24 

	 	(iii)	 the exculpatory, expense reimbursement and indemnification obligations of the Directing Lenders in favor of the
Term Loan Agent as forth in the Loan Documents (including sections 8.03 and 8.12 of the Credit Agreement) shall continue in full force and effect after the date hereof, and shall apply (and be deemed and construed to apply) to the Strict Foreclosure
and the Transaction and all matters relating thereto (and all documents entered into, and actions taken by the Term Loan Agent, in connection with, the foregoing), and that, pursuant thereto, to the extent the Company fails to do so, the Directing
Lenders shall reimburse, indemnify and hold harmless the Term Loan Agent from and against all losses, penalties, claims, damages, liabilities, actions, judgments, suits, costs, expenses of any kind incurred, arising out of or in connection with, or
relating to any of the foregoing. 

  

	 	(c)	 Company Representations and Warranties. The Company represents and warrants to the Directing Lenders
that: 

  

	 	(i)	 neither it nor any of its Affiliates has entered into any agreements with any party regarding a sale or
Transaction of the Company that would result in a greater recovery on the Term Loan Claims or any part thereof than is contemplated under this Agreement; 

  

	 	(ii)	 the exculpatory, expense reimbursement and indemnification obligations of the Company in favor of the Term Loan
Agent and its Related Parties (as defined in the Credit Agreement) set forth in the Loan Documents (including section 9.05 of the Credit Agreement) shall continue in full force and effect after the date hereof, and shall apply (and be deemed and
construed to apply) to the Strict Foreclosure and the Transaction and all matters relating thereto (and all documents entered into, and actions taken by the Term Loan Agent, in connection with, the foregoing), and that, pursuant thereto, the Company
shall reimburse, indemnify and hold harmless the Term Loan Agent and each of its Related Parties from and against all losses, penalties, claims, damages, liabilities, actions, judgments, suits, costs, expenses of any kind incurred, arising out of or
in connection with, or relating to any of the foregoing. 

  

	 	(d)	 SMLP Representations and Warranties. SMLP represents and warrants to the Directing Lenders that:

  

	 	(i)	 the common units representing the Specified Collateral to be distributed to the Term Loan Lenders are validly
issued and outstanding; 

  

	 	(ii)	 the common units representing the Specified Collateral to be distributed to the Term Loan Lenders do not bear a
restrictive legend as of the date hereof and will not bear a restrictive legend as of the Closing Date; and 

  
 25 

	 	(iii)	 the common units representing the Specified Collateral have been approved for listing on the New York Stock
Exchange. 

 Section 9. Conditions Precedent to Closing Date. 

The occurrence of the Closing Date shall be subject to the satisfaction or waiver of the following conditions on or prior to the Closing Date:

  

	 	(a)	 the Agreement shall not have been terminated in accordance with its terms and there shall not be continuing any
cure period with respect to any event, occurrence or condition that would permit the Requisite Directing Lenders to terminate the Agreement in accordance with its terms following the conclusion of such cure period; 

 

	 	(b)	 all governmental, regulatory and third party notifications, filings, waivers, authorizations and consents
necessary or required to be obtained by the Company or SMLP for the consummation of any part of the Transaction, shall have been made or received, shall be in full force and effect, shall not be subject to unfulfilled conditions or contingencies,
and shall be acceptable to the Requisite Directing Lenders; 

  

	 	(c)	 no Material Adverse Effect shall have occurred after the TSA Effective Date; provided, however,
that the foregoing shall not include any Event, change, effect, occurrence, development, circumstance or change of fact arising out of, resulting from or relating to (i) any action taken by a Directing Lender or any of their respective
Affiliates or (ii) the compliance by any person or entity with the covenants and agreements contained in this Agreement; 

  

	 	(d)	 the SMLP Contribution shall have occurred; 

 

	 	(e)	 the execution of each of the Definitive Documents, which, in each case, shall be in form and substance
substantially similar to the Exhibits to the Term Sheet; 

  

	 	(f)	 holders of at least 73% of the aggregate principal amount of all Term Loan Claims outstanding and at least two
(2) Term Loan Lenders that are not Affiliates of each other, Affiliates of the Company or the Initial Directing Lenders shall have executed a Joinder Agreement or a Consent Agreement; 

 

	 	(g)	 no temporary restraining order, preliminary or permanent injunction, judgment or other order preventing the
consummation of any part of the Transaction shall have been entered, issued, rendered or made by any party other than a Directing Lender, nor shall any proceeding seeking any of the foregoing by any party other than a Directing Lender be commenced
or pending; nor shall there be any law, rule or regulation promulgated, enacted, entered, enforced or deemed applicable to the Company or SMLP which makes the consummation of any part of the Transaction illegal, void or rescinded;

  
 26 

	 	(h)	 there is no pending or threatened (in writing) action, complaint, claim, litigation, law suit, proceeding,
investigation, objection or similar event or circumstance relating to any of the transactions contemplated by this Agreement or any other Definitive Document (a) commenced or asserted by two (2) or more Term Loan Lenders, that are not
Directing Lenders, holding in the aggregate more than 10% of the principal amount of Term Loan Claims then outstanding; (b) that could reasonably be expected to result in the Directing Lenders and the Transaction Consenting Lenders, in the
aggregate, being obligated for in excess of $500,000 in unreimbursed indemnification costs, or (c) that specifically names or asserts claims or causes of action against any Directing Lender (and, in each case, the Company is not aware of any
fact or circumstance that could give rise to or indicate that the same may arise, or be contemplated or threatened); provided that, upon the occurrence of any event in this Section 9(h), SMLP may agree, pursuant to a
written undertaking reasonably acceptable to the Requisite Directing Lenders, to indemnify the Term Loan Agent, Directing Lenders and Transaction Consenting Lenders for any costs, fees, or expenses arising from such action, in which event the
Company may proceed with consummating the Strict Foreclosure; 

  

	 	(i)	 the representations and warranties of the Company and SMLP in this Agreement and each Definitive Document shall
be true and correct in all material respects (without regard and without giving effect to any materiality or Material Adverse Effect standard or qualification contained in such representation or warranty (as if such standard or qualification were
deleted from such representation and warranty)) as of the Closing Date and the Company shall have delivered to the Directing Lenders a written and signed certificate from a responsible executive officer of the Company and SMLP confirming the same;

  

	 	(j)	 the Company and SMLP shall have complied with its covenants and obligations under this Agreement and the other
Definitive Documents to be performed prior to the Closing Date, and the Company shall have delivered to the Directing Lenders a written and signed certificate from a responsible executive officer of the Company and SMLP confirming the same;

  

	 	(k)	 the Company shall have delivered to the Directing Lenders a written and signed certificate from a responsible
executive officer of the Company confirming that, subject to those conditions precedent that will be satisfied on the Closing Date, all conditions precedent to the occurrence of the Closing Date set forth in this Agreement and the other Definitive
Documents have been satisfied (or if any such conditions precedent have not been satisfied, identifying such unsatisfied conditions precedent); 

  

	 	(l)	 either (i) SMLP shall have received Interpretive Guidance from the SEC confirming the applicability of
Rule 144(d)(3)(iv) or (ii) the Registration Statement shall be declared effective by the SEC covering all the common units held by Term Loan Lenders that become Directing Lenders and Transaction Consenting Lenders prior to the expiration of the
Solicitation Period that completed and returned the Questionnaire prior to the Questionnaire Deadline; 

  
 27 

	 	(m)	 the Company shall have delivered to the Directing Lenders a written opinion of Baker Botts (or other counsel
reasonably acceptable to the Requisite Directing Lenders) in form and substance as previously agreed; 

  

	 	(n)	 the Ad Hoc Group Fees and Expenses shall have been paid in full, in cash, in accordance with this Agreement;
and 

  

	 	(o)	 The Term Loan Agent Fees and Expenses incurred at any time prior to the Closing Date shall have been paid in
full in cash. 

 Any of the foregoing conditions may be waived only by both the Requisite Directing Lenders and the
Company. 
 Section 10. Fiduciary Duty. 
  

	 	(a)	 Notwithstanding any provision in this Agreement to the contrary, nothing in this Agreement shall require the
Company, nor the Company’s directors, managers, and officers, including any director, manager, employee, to take or refrain from taking any action in its capacity as a director, manager, or officer of the Company (including, without limitation,
terminating this Agreement under Section 6), to the extent such person (or persons) determines, in good faith, based on the advice of outside counsel (including counsel to the Company) that taking or failing to take such
action would be inconsistent with applicable law or its fiduciary obligations under applicable law, and any such action or inaction pursuant to this Section 9 shall not be deemed to constitute a breach of this Agreement,
provided, that it may result in a Termination Event. The Company shall provide written notice in accordance with Section 22 to the Directing Lenders promptly following any determination by the Company or the
Company’s directors, managers, or officers to take or refrain from taking any action that would otherwise be prohibited or required, as applicable, by this Agreement, which notice shall set forth in reasonable detail the basis for such
determination. 

  

	 	(b)	 Nothing in this Agreement shall: (i) impair or waive the rights of any Company entity to assert or raise
any objection expressly permitted under this Agreement in connection with the Transaction; or (ii) prevent any Company entity from enforcing this Agreement or contesting whether any matter, fact, or thing is a breach of, or is inconsistent
with, this Agreement. 

 Section 11. Disclosure; Publicity. 

The Company shall provide the Ad Hoc Group Advisors a reasonable opportunity to comment on any press releases and public documents that
constitute disclosure of the existence or terms of this Agreement or any amendment to the terms of this Agreement. The Company may disclose the existence of, or the terms of, this Agreement or any other material term of the Transaction without
the express written consent of the other Parties; provided, however, that no 

  
 28 

 
Party or its advisors shall disclose to any person or entity (including, for the avoidance of doubt, any other Party) other than advisors to the Company and Stroock the identity of any Directing
Lender, the principal amount or percentage of any Term Loan Claims held by any Party or the specific legal entity name of any Directing Lender, in each case, without such Party’s prior written consent, except as required by law or otherwise
permitted under the terms of any other agreement between the Company, on the one hand, and any Directing Lender, on the other hand; provided that (a) if such disclosure is required by law, subpoena, or other legal process or regulation,
the disclosing Party shall afford the relevant Party a reasonable opportunity to review and comment in advance of such disclosure and shall take all reasonable measures to limit such disclosure (the expense of which, if any, shall be borne by the
relevant disclosing Party) and (b) the foregoing shall not prohibit the disclosure of the aggregate percentage or aggregate principal amount of Term Loan Claims held by all the Directing Lenders collectively. Any public filing of this Agreement
that includes executed signature pages to this Agreement shall include such signature pages only in redacted form with respect to the identity of the Directing Lenders and the amount of Term Loan Claims held by each Directing Lender (provided
that the holdings disclosed in such signature pages may be filed in unredacted form under seal). 
 Section 12. Amendments and Waivers.

  

	 	(a)	 This Agreement, including the Term Sheet, may not be modified, amended, or supplemented, and no condition or
requirement of this Agreement may be waived, in any manner except in accordance with this Section 12. 

  

	 	(b)	 This Agreement may be modified, amended, or supplemented, or a condition or requirement of this Agreement may
be waived, in a writing signed by: (i) the Company, and (ii) the Requisite Directing Lenders. Notwithstanding the foregoing, if the proposed modification, amendment, waiver, or supplement has a material, disproportionate, and adverse
effect on (a) any of the Term Loan Claims held by any individual Directing Lender or (b) any individual Directing Lender’s entitlement to the Specified Collateral, the Additional Consideration, or the Consent Premium, then, in each
case, the consent of each such affected party shall also be required to effectuate such modification, amendment, waiver, or supplement. 

  

	 	(c)	 Any proposed modification, amendment, waiver, or supplement that does not comply with this
Section 12 shall be ineffective and void ab initio. 

  

	 	(d)	 The waiver by any Party of a breach of any provision of this Agreement shall not operate or be construed as a
further or continuing waiver of such breach or as a waiver of any other or subsequent breach. No failure on the part of any Party to exercise, and no delay in exercising, any right, power, or remedy under this Agreement shall operate as a waiver of
any such right, power, or remedy or any provision of this Agreement, nor shall any single or partial exercise of such right, power, or remedy by such Party preclude any other or further exercise of such right, power, or remedy or the exercise of any
other right, power, or remedy. All remedies under this Agreement are cumulative and are not exclusive of any other remedies provided by law. 

  
 29 

 Section 13. Effectiveness. 

This Agreement shall become effective and binding on the Parties on the date (the “TSA Effective Date”) that (i) this
Agreement has been executed and delivered by all of (A) the Company and SMLP and (B) Directing Lenders holding in the aggregate at least 66 percent of the aggregate principal amount of Term Loan Claims; and (ii) payment is made
of the Ad Hoc Group Fees and Expenses consistent with Section 14(a) and the Term Loan Agent Fees and Expenses, in each case, to the extent invoiced one Business Day prior to the execution and delivery of this Agreement in
accordance with clause (i); provided that signature pages executed by Directing Lenders shall be delivered to (a) the Company, other Directing Lenders, and counsel to other Directing Lenders in a redacted form that removes the identity
of the Directing Lenders and such Directing Lender’s holdings of the Term Loan Claims and any schedules to such Directing Lenders’ holdings (if applicable) and (b) Kirkland and Stroock in an unredacted form (to be held by such counsel
on a professionals’ eyes only basis). If the TSA Effective Date does not occur by September 29, 2020, this Agreement (other than Section 14 hereof) shall be deemed null and void. 

Section 14. Ad Hoc Group Fees and Expenses  
  

	 	(a)	 Whether or not the transactions contemplated by this Agreement are consummated and, in each case, the Company
hereby agrees, on a joint and several basis, to pay in cash, in full, the Ad Hoc Group Fees and Expenses as follows: (i) Ad Hoc Group Fees and Expenses incurred up to (and including) the TSA Effective Date on the TSA Effective Date following
receipt of summary invoices, (ii) unpaid Ad Hoc Group Fees and Expenses incurred after the TSA Effective Date but prior to the Closing Date, on a monthly basis promptly following receipt of summary invoices, and in any event, no later than the
Closing Date, (iii) upon termination of this Agreement, all accrued and unpaid Ad Hoc Group Fees and Expenses incurred up to (and including) the date of such termination shall be paid in full in cash promptly (but in any event within five
(5) Business Days) following receipt of summary invoices, and (iv) on the Closing Date, all accrued and unpaid Ad Hoc Group Fees and Expenses incurred up to (and including) the Closing Date shall be paid following receipt of summary
invoices. 

  

	 	(b)	 The terms set forth in this Section 14 shall survive termination of this Agreement
and shall remain in full force and effect regardless of whether the transactions contemplated by this Agreement are consummated. 

  

	 	(c)	 Following the TSA Effective Date, upon request of the Company, Stroock shall furnish to the Company and
Kirkland a summary report of Ad Hoc Group Fees and Expenses incurred; provided that such obligation shall terminate as of the Termination Date. 

  
 30 

 Section 15. Governing Law; Jurisdiction; Waiver of Jury Trial. 

 

	 	(a)	 This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be
governed by, the law of the State of New York, without giving effect to any conflicts of law principles which would permit or require the application of the law of any other jurisdiction. 

 

	 	(b)	 Each of the Parties irrevocably agrees for itself that any legal action, suit, or proceeding arising out of or
relating to this Agreement brought by any party or its successors or assigns shall be brought and determined in any federal or state court in the Borough of Manhattan, the City of New York, and each of the Parties hereby irrevocably submits to the
exclusive jurisdiction of the aforesaid courts for itself, generally and unconditionally, with regard to any such proceeding arising out of or relating to this Agreement or the Transaction. Each of the Parties agrees not to commence any proceeding
relating hereto or thereto except in the courts described above in New York, other than proceedings in any court of competent jurisdiction to enforce any judgment, decree, or award rendered by any such court in New York as described herein. Subject
to the foregoing, each of the Parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim, or otherwise, in any proceeding arising out of or relating to this Agreement or the
Transaction, (i) that any claim is not personally subject to the jurisdiction of the courts in New York as described herein for any reason and (ii) that (A) the proceeding in any such court is brought in an inconvenient forum, (B) the
venue of such proceeding is improper, or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. 

  

	 	(c)	 Notwithstanding Section 15(b), if the Backup Transaction is to be consummated, the
Company and the Requisite Directing Lenders shall cooperate in good faith to determine the jurisdiction within which to commence the chapter 11 proceedings. 

  

	 	(d)	 EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT (WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY). EACH PARTY (I) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 15. ANY DISPUTES RESOLVED IN COURT SHALL BE RESOLVED IN A BENCH TRIAL WITHOUT A JURY. 

  
 31 

 Section 16. Specific Performance/Remedies. 

It is understood and agreed by the Parties that money damages would be an insufficient remedy for any breach of this Agreement by any Party,
and each non-breaching Party shall be entitled to specific performance and injunctive or other equitable relief (without the posting of any bond and without proof of actual damages) as a remedy of any such
breach, including an order of a court of competent jurisdiction, which may be a bankruptcy court, requiring any Party to comply promptly with any of its obligations hereunder. Each Party hereby waives any requirement for the securing or posting of
any bond in connection with such remedies. 
 Section 17. Survival. 

Notwithstanding the termination of this Agreement pursuant to Section 6, the agreements and obligations of the
Parties set forth in the following Sections: Section 1, Section 6(e), Section 9, Section 11, Section 12,
Section 13, Section 14, Section 15, Section 16, Section 17, Section 18, Section 19,
Section 20, Section 21, Section 22, Section 23, Section 24, Section 25, and Section 27
(and any defined terms used in any such Sections) shall survive such termination and shall continue in full force and effect for the benefit of the Directing Lenders in accordance with the terms hereof; provided that any liability of a Party
for failure to comply with the terms of this Agreement shall survive such termination. 
 Section 18. Successors and Assigns; Severability;
Several Obligations. 
 This Agreement is intended to bind and inure to the benefit of each of the Parties and their respective
predecessors, successors, permitted assigns, heirs, executors, administrators, and representatives; provided that nothing contained in this Section 18 shall be deemed to permit Transfers of interests in the Term Loan
Claims other than in accordance with the express terms of this Agreement. Notwithstanding anything to the contrary herein, the agreements, representations, and obligations of the Parties are, in all respects, several and neither joint nor joint and
several. For the avoidance of doubt, the obligations arising out of this Agreement are several and neither joint nor joint and several with respect to each Directing Lender, in accordance with its proportionate interest hereunder, and the Parties
agree not to proceed against any Directing Lender for the obligations of another. 
 Section 19. No Third-Party Beneficiaries. 

Unless expressly stated herein, this Agreement shall be solely for the benefit of the Parties and no other person or entity shall be a
third-party beneficiary hereof. Notwithstanding the foregoing, the Agent shall be deemed a third party beneficiary of the Company’s representation in
 Section 8(c)(ii) and the Transaction Consenting Lenders shall be
deemed a third party beneficiary of the provisions of Section 27(g). 
 Section 20. Prior Negotiations; Entire
Agreement. 
 This Agreement, including the exhibits and schedules hereto (including the Term Sheet), together with the other
Definitive Documents, constitutes the entire, integrated agreement of the Parties, and supersedes all other prior negotiations, with respect to the subject matter hereof and thereof, except that the Parties acknowledge that any confidentiality
agreements (if any) heretofore executed between the Company and each Directing Lender shall continue in full force and effect in accordance with its terms. 

  
 32 

 Section 21. Counterparts. 

This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, and all of which together shall be
deemed to be one and the same agreement. Execution copies of this Agreement may be delivered by facsimile, electronic mail, or otherwise, which shall be deemed to be an original for the purposes of this paragraph. 

Section 22. Notices. 
 All
notices hereunder shall be deemed given if in writing and delivered, if contemporaneously sent by electronic mail, courier, or by registered or certified mail (return receipt requested) to the following addresses: 

 

	 	(a)	 If to the Company, to: 

Summit Midstream Partners Holdings, LLC 

910 Louisiana Street, Suite 4200 

Houston, Texas 77002 
 Attention:
Megan Davis 
 [***] 
 With a
copy to: 
 Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
New York 10022 
 Attention: Christopher J. Marcus, P.C. 

[***] 
 Kirkland & Ellis
LLP 
 300 North LaSalle 

Chicago, Illinois 60654 

Attention Stephen L. Iacovo 

[***] 
  

	 	(b)	 If to a Directing Lender or a transferee thereof, to the addresses set forth below such Directing Lender’s
signature (or as directed by any transferee thereof), as the case may be, and, if to the Ad Hoc Group, with a copy to: 

Stroock & Stroock & Lavan LLP 

180 Maiden Lane 
 New York, New
York 10038 
 Attention: Kristopher M. Hansen 

Marija Pecar 
 Isaac S. Sasson

 [***] 
 [***] 

[***] 

  
 33 

 Any notice given by electronic mail, facsimile, delivery, mail, or courier shall be
effective when received. 
 Section 23. Reservation of Rights; No Admission. 

 

	 	(a)	 Nothing contained herein shall (i) limit (A) the ability of any Party to consult with other Parties or
(B) the rights of any Party under any applicable bankruptcy, insolvency, foreclosure, or similar proceeding, including the right to appear as a party in interest in any matter to be adjudicated in order to be heard concerning any matter arising
in or related to the Transaction before a court of competent jurisdiction, in each case, so long as such consultation or appearance is not inconsistent with such Party’s obligations hereunder, or, to the extent such Transaction is consistent
with this Agreement, under the terms of the Transaction; (ii) limit the ability of any Directing Lender to sell or enter into any transactions in connection with the Term Loan Claims, or any other claims against or interests in the Company,
subject to the terms of Section 3(c); (iii) limit the rights of any Directing Lender under the Credit Agreement or any agreements executed in connection therewith, except to the extent exercise of any such rights are
inconsistent with the terms of this Agreement as applicable to each such Directing Lender; or (iv) constitute a waiver or amendment of any provision of the Credit Agreement or any agreements executed in connection therewith except as expressly
set forth herein. 

  

	 	(b)	 Except as expressly provided in this Agreement, nothing herein is intended to, or does, in any manner waive,
limit, impair, or restrict the ability of each of the Parties to protect and preserve its rights, remedies, and interests, including its claims against any of the other Parties (or their respective affiliates or subsidiaries) or its full
participation in any bankruptcy case filed by the Company or any of its affiliates and subsidiaries, including by asserting or raising any objection permitted under this Agreement in connection with the Transaction, enforcing this Agreement or
contesting whether any matter, fact, or thing is a breach of, or is inconsistent with, this Agreement. This Agreement and the transactions contemplated thereby are part of a proposed settlement of matters that could otherwise be the subject of
litigation among the Parties. Pursuant to Rule 408 of the Federal Rule of Evidence, any applicable state rules of evidence, and any other applicable law, foreign or domestic, this Agreement and all negotiations relating thereto shall not be
admissible into evidence in any proceeding other than a proceeding to enforce its terms. This Agreement shall in no event be construed as or be deemed to be evidence of an admission or concession on the part of any Party of any claim or fault or
liability or damages whatsoever. Each of the Parties denies any and all wrongdoing or liability of any kind and does not concede any infirmity in the claims or defenses that it has asserted or could assert. 

  
 34 

 Section 24. Relationship Among Directing Lenders. 

 

	 	(a)	 For the avoidance of doubt, the Directing Lenders act in their individual capacities and not as agent, trustee,
or in any other fiduciary capacity with respect to any other Directing Lender or any other Party. 

  

	 	(b)	 It is understood and agreed that no Directing Lender has any duty of trust or confidence in any kind or form
with any other Directing Lender as a result of this Agreement. In this regard, it is understood and agreed that any Directing Lender may trade in the Term Loan Claims, any Claims and Interests, or other debt of the Company without the consent of the
Company or any other Directing Lender, subject to the Credit Agreement, as applicable, the terms of this Agreement, and any confidentiality agreement entered into with the Company; provided that no Directing Lender shall have any
responsibility for any such trading to any other person or entity by virtue of this Agreement. No prior history, pattern, or practice of sharing confidences among or between the Directing Lenders shall in any way affect or negate this Agreement. The
Parties acknowledge that this agreement does not constitute an agreement, arrangement, or understanding with respect to acting together for the purpose of acquiring, holding, voting, or disposing of any equity securities of the Company and the
Parties do not constitute a “group” within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended. No action taken by any Party pursuant to this Agreement shall be deemed to
constitute or to create a presumption by any of the Parties that the Parties are in any way acting in concert or as such a “group.” 

  

	 	(c)	 Notwithstanding anything to the contrary herein, nothing in this Agreement shall require any Directing Lender
or representative of a Directing Lender that becomes a member of a statutory committee that may be established in any proceeding before a court of competent jurisdiction to take any action, or to refrain from taking any action, in such person’s
capacity as a statutory committee member; provided that nothing in this Agreement shall be construed as requiring any Directing Lender to serve on any statutory committee that may be established in any proceeding before a court of competent
jurisdiction. 

 Section 25. Consents and Acknowledgments. 

 

	 	(a)	 Each Party acknowledges that it has been represented by counsel in connection with this Agreement and the
transactions contemplated hereby. Accordingly, any rule of law or any legal decision that would provide any Party with a defense to the enforcement of the terms of this Agreement against such Party based upon lack of legal counsel shall have no
application and is expressly waived. 

  
 35 

	 	(b)	 By executing this Agreement, each Directing Lender (including, for the avoidance of doubt, any entity that may
execute this Agreement or a Transferee Joinder) forbears from exercising remedies with respect to any “Default” or “Event of Default” as defined under the Credit Agreement that is caused by the Company’s entry into this
Agreement or the other documents related to this Agreement and the transactions contemplated in this Agreement, and agrees to direct the applicable administrative agent to not exercise remedies to the extent that any other Term Loan Lender directs
such agent to exercise such remedies; it being understood and agreed that this waiver shall be terminated and be without any further force and effect upon the termination of this Agreement without the occurrence of the Closing Date.

  

	 	(c)	 Although none of the Parties intends that this Agreement should constitute, and they each believe it does not
constitute, a solicitation or acceptance of a chapter 11 plan of reorganization or an offering of securities, each Directing Lender acknowledges, agrees, and represents to the other Parties that it (i) is an “accredited investor” as
such term is defined in Rule 501(a) of the Securities Act; (ii) has such knowledge and experience in financial and business matters that such Directing Lender is capable of evaluating the merits and risks of the securities to be acquired by it
pursuant to the Transaction and understands and is able to bear any economic risks with such investment; (iii) has been afforded the opportunity to ask questions and receive answers concerning the Company and SMLP and to obtain additional
information that it has requested to verify such information; (iv) is acquiring the securities contemplated by this Agreement for investment for its own account, and not with the view to or for distribution or resale in violation of the
Securities Act and any applicable state securities or “blue sky” Laws, and has no present intention of distributing any of such securities in violation of the Securities Act or any applicable state securities or “blue sky” Laws
(this representation and warranty not limiting such Party’s right to sell such securities in compliance with applicable federal and state securities laws); (v) understands that the securities contemplated by this Agreement have not been
registered under the Securities Act as of the date hereof and may not be resold without registration under the Securities Act except pursuant to a specific exemption from the registration provisions of the Securities Act; and (vi) is not
acquiring the securities contemplated by this Agreement as a result of any advertisement, article, notice or other communication regarding such securities published in any newspaper, magazine or similar media or broadcast over television or radio or
presented at any seminar or any other general solicitation or general advertisement. 

 Section 26. Additional Parties.

 Without in any way limiting the requirements of Section 3(c) of this Agreement, additional Term Loan Lenders
may elect to become Parties upon execution and delivery to the other Parties of a counterpart hereof in accordance with Section 13. Such additional Parties shall become a Directing Lender under this Agreement in accordance
with the terms of this Agreement. 

  
 36 

 Section 27. Registration Matters. 

 

	 	(a)	 Subject to its obligation to file such Registration Statement arising pursuant to
Section 4(a)(iv)(C) (including without limitation a determination by SMLP in consultation with Stroock that the Interpretive Guidance cannot be obtained), SMLP shall use its reasonable best efforts to prepare and file a
registration statement (a “Registration Statement”) with the SEC (on such form as SMLP is eligible to use under the Securities Act) covering resales by the holders of Registrable Securities as selling unitholders of all Registrable
Securities (a “Resale Registration”) held by Term Loan Lenders that become Directing Lenders or Transaction Consenting Lenders prior to the expiration of the Solicitation Period and that deliver a completed Questionnaire to SMLP
prior to the Questionnaire Deadline (provided that the Registration Statement may be filed prior to the Questionnaire Deadline if SMLP commits to amend the Registration Statement prior to its effectiveness to include all Directing Lenders and
Transaction Consenting Lenders as of the expiration of the Solicitation Period and that return completed Questionnaires prior to the Questionnaire Deadline). SMLP shall use its reasonable best efforts to have such Registration Statement declared
effective by the SEC by the Outside Date or sooner, if practicable, but no earlier than the first business day following the Questionnaire Deadline. SMLP shall, on the Business Day following the effective date of such Registration Statement, file a
final prospectus with the SEC as required by Rule 424 under the Securities Act and furnish such final prospectus to the holders of Registrable Securities. Until the earlier of (i) 6 months following the Closing Date and (ii) the date that all
Registrable Securities cease to be Registrable Securities (the “Applicable Period”), SMLP shall use its reasonable best efforts to keep current and effective the Registration Statement and file such supplements or amendments to such
Registration Statement as may be necessary or appropriate in order to keep such Registration Statement continuously effective and useable for the resale of all Registrable Securities under the Securities Act. In addition, both during and after the
Applicable Period, SMLP shall file in a timely manner its annual report on Form 10-K and its quarterly reports on Form 10-Q until the earliest of (i) 12 months following
the Closing Date and (ii) the date that all Registrable Securities cease to be Registrable Securities. 

  

	 	(b)	 SMLP will promptly notify the holders of Registrable Securities at any time when a prospectus relating thereto
is required to be delivered under the Securities Act or of the occurrence of any event as a result of which the prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state
any material fact or necessary in order to make the statements therein not misleading in the light of the circumstances under which they were made, and shall promptly prepare, file with the SEC and furnish to such holders a supplement to or an
amendment of such prospectus, or a revised prospectus, as may be necessary so that, as thereafter delivered to the purchasers of such securities, the prospectus included in the Registration Statement, as so amended or supplemented, shall not include
an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein 

  
 37 

	 	
not misleading in the light of the circumstances under which they were made (it being understood that (i) any period of time after SMLP delivers notice to holders of Registrable Securities
of the need to supplement or amend the prospectus until the delivery to such holders of a supplement or amendment filed with the SEC shall be treated as a “Blackout Period” in accordance with the provisions of paragraph (c) below and
(ii) following receipt of any supplement or amendment to any prospectus, any selling holder of Registrable Securities shall deliver such amended, supplemental or revised prospectus in connection with any offers or sales of Registrable
Securities, and shall not deliver or use any prospectus not so supplemented, amended or revised); 

  

	 	(c)	 Suspension; Blackout 

 

	 	(i)	 Upon written notice to the holders of Registrable Securities, SMLP shall be entitled to suspend, for a
cumulative period of up to 45 days for all such suspensions, the use of any Registration Statement or prospectus and shall not be required to amend or supplement the Registration Statement, any related prospectus or any document incorporated therein
by reference if (i) SMLP receives any request by the SEC or any other federal or state governmental authority for amendments or supplements to such Registration Statement or prospectus or for additional information that pertains to such holders
of Registrable Securities; (ii) the SEC issues any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) SMLP receives any notification with respect to the
suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose; and (iv) the board of directors, chief
executive officer or chief financial officer of the general partner of SMLP determines in its or his or her reasonable good faith judgment that the Registration Statement or any prospectus may contain an untrue statement of a material fact or may
omit any fact necessary to make the statements in the Registration Statement or prospectus not materially misleading; provided, that in any such case SMLP shall use its reasonable best efforts to amend the Registration Statement or prospectus to
correct such untrue statement or omission as promptly as reasonably practicable, unless SMLP determines in good faith, and advises the holders of the Registrable Securities, that such amendment would reasonably be expected to have a materially
detrimental effect on SMLP. 

  

	 	(ii)	 SMLP shall be entitled to require the holders of Registrable Securities to discontinue the disposition of their
securities covered by the Registration Statement during any Blackout Period (as defined below) (i) if the board of directors of the general partner of SMLP determines in good faith that continuing such disposition at such time would have a
material adverse effect upon a proposed sale of all (or substantially all) of the assets of SMLP or a merger, reorganization, recapitalization or similar current 

  
 38 

	 	
transaction materially affecting the capital structure or equity ownership of SMLP, or (ii) if SMLP is in possession of material information which the board of directors of SMLP determines
in good faith it is not in the best interests of SMLP to disclose in a registration statement at such time; provided, however, that (i) SMLP may only require the holders of Registrable Securities to discontinue the disposition of their
securities covered by the Registration Statement only for a reasonable period of time, on a cumulative basis (together with any other suspensions hereunder) not to exceed an aggregate of 45 days (or such earlier time as such transaction is
consummated or no longer proposed or the material information has been made public) (the “Blackout Period”) and (ii) SMLP shall not commence any Blackout Period or require holders of Registrable Securities to discontinue their
disposition of the securities covered by the Registration Statement unless SMLP takes similar action with respect to each other then effective resale registration statement filed by SMLP with the SEC. SMLP shall promptly notify the holders in
writing (a “Blackout Notice”) of any decision to require them to discontinue sales of Registrable Securities covered by the Registration Statement pursuant to this paragraph and shall include a general statement of the reason for
such discontinuation, an approximation of the anticipated delay and an undertaking by SMLP promptly to notify the holders as soon as sales of Registrable Securities covered by the Registration Statement may resume. In making any such determination
to initiate or terminate a Blackout Period, SMLP shall not be required to consult with or obtain the consent of any holder, and any such determination shall be SMLP’s sole responsibility. Each holder shall treat all notices received from SMLP
pursuant to this paragraph constituting inside information in the strictest confidence and shall not trade on or disseminate such information. 

  

	 	(d)	 SMLP shall provide Stroock, as counsel to the Ad Hoc Group, a reasonable opportunity to review and comment on
the Registration Statement; provided that such opportunity shall not occur prior to the expiration of the Solicitation Period. The “Selling Unitholder” and “Plan of Distribution” sections included in the Registration
Statement will include all such information and methods of sale as Stroock, as counsel to the Ad Hoc Group, may reasonably request in writing at least two (2) Business Days prior to the anticipated filing date of the Registration Statement and
that can be included in the Registration Statement under the rules and regulations of the SEC. 

  

	 	(e)	 Each holder of Registrable Securities acknowledges and agrees that it shall not be entitled to be named as a
selling security holder in such Registration Statement unless such holder of Registrable Securities has furnished an executed Questionnaire to SMLP no later than five (5) Business Days after the later of (i) the conclusion of the
Solicitation Period and (ii) the mutual agreement of the Company and the Requisite Directing Lenders to file the Registration Statement as provided in Section 4(a)(iv)(C) hereof (the “Questionnaire
Deadline”). 

  
 39 

	 	(f)	 Notwithstanding anything in the TSA to the contrary, Selling Expenses shall not be considered Ad Hoc Group Fees
and Expenses. 

  

	 	(g)	 Indemnification. 

  

	 	(i)	 SMLP agrees to indemnify and reimburse, to the fullest extent permitted by law, each holder of Registrable
Securities that is a seller of Registrable Securities, and each of its employees, advisors, agents, representatives, partners, officers, and directors and each Person who controls such holder (within the meaning of the Securities Act or the Exchange
Act) (collectively, the “Seller Affiliates”) (A) against any and all losses, claims, damages, liabilities and expenses, joint or several (including, without limitation, attorneys’ fees and disbursements except as limited by
Section 27(g)(iii)) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement or related prospectus or any amendment thereof
or supplement thereto, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, (B) against any and all losses, liabilities, claims, damages and expenses
whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon, arising out of,
related to or resulting from any such untrue statement or omission or alleged untrue statement or omission, and (C) against any and all costs and expenses (including, without limitation, reasonable fees, charges and disbursements of counsel) as
may be reasonably incurred in investigating, preparing or defending against any litigation, investigation or proceeding, commenced or threatened, or any claim whatsoever based upon, arising out of, related to or resulting from any such untrue
statement or omission or alleged untrue statement or omission, or such violation of the Securities Act or Exchange Act, to the extent that any such expense or cost is not paid under subparagraph (A) or (B) above; except insofar as any such
statements are consistent with and made in reliance upon information furnished to SMLP in writing by such seller or any Seller Affiliate expressly for use therein. The reimbursements required by this Section 27(g) will be
made by periodic payments during the course of the investigation or defense, as and when bills are received or expenses incurred. 

  

	 	(ii)	 In connection with any Registration Statement in which a holder of Registrable Securities that is a seller of
Registrable Securities is participating, each such holder will furnish to SMLP such information and affidavits as SMLP reasonably requests pursuant to the disclosure requirements of the SEC for use in connection with any such Registration Statement
or prospectus and, to the fullest extent permitted by law, each such seller will indemnify SMLP and its directors and officers and each Person who controls SMLP (within the meaning of the Securities Act or

  
 40 

	 	
the Exchange Act) against any and all losses, claims, damages, liabilities and expenses (including, without limitation, reasonable attorneys’ fees and disbursements except as limited by
Section 27(g)(iii)) resulting from any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or related prospectus or any amendment thereof or supplement thereto or any
omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission
is consistent with and made in reliance upon any information or affidavit so furnished by such seller or any of its Seller Affiliates in writing specifically for inclusion in the Registration Statement; provided that the obligation to indemnify will
be several, not joint and several, among such sellers of Registrable Securities, and the liability of each such seller of Registrable Securities will be in proportion to the amount of Registrable Securities sold by such seller, and, provided,
further, that such liability will be limited to the net amount received by such seller from the applicable sale of Registrable Securities. 

  

	 	(iii)	 Any Person entitled to indemnification under this Section 27 will (i) give prompt written notice to
the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give such notice shall not limit the rights of such Person) and (ii) unless in such indemnified party’s reasonable judgment a
conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided,
however, that any Person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless
(A) the indemnifying party has agreed to pay such fees or expenses or (B) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such Person. If such defense is not
assumed by the indemnifying party as permitted hereunder, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld,
conditioned or delayed). If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim unless (i) such settlement or compromise
contains a full and unconditional release of the indemnified party or (ii) the indemnified party otherwise consents in writing (which consent will not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled
to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified (which shall be chosen by the holders of a majority of Registrable

  
 41 

	 	
Securities so indemnified) by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such
indemnified party and any other of such indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels. 

 

	 	(iv)	 Each Party agrees that, if for any reason the indemnification provisions contemplated by
Section 27(g)(i) and Section 27(g)(ii) are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in
respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, liabilities or expenses (or actions in respect thereof) in such
proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party in connection with the actions which resulted in the losses, claims, damages, liabilities or expenses as well as any other relevant
equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission
to state a material fact relates to information supplied by such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 27(g)(iv) were determined by pro rata allocation (even if the holders of Registrable Securities or all of them were
treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 27(g)(iv). The amount paid or payable by an indemnified
party as a result of the losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection
with investigating or, except as provided in Section 27(g)(iv), defending any such action or claim. Notwithstanding the provisions of this Section 27(g)(iv), no holder of Registrable Securities
shall be required to contribute an amount greater than the dollar amount by which the net proceeds received by such holder with respect to the sale of any Registrable Securities exceeds the amount of damages which such holder has otherwise been
required to pay by reason of any and all untrue or alleged untrue statements of material fact or omissions or alleged omissions of material fact made in any Registration Statement or prospectus or any amendment thereof or supplement thereto related
to such sale of Registrable Securities. No person guilty of fraudulent misrepresentation (within the meaning of section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. The obligations of the holders of Registrable Securities in this Section 27(g)(iv) to contribute shall be several in proportion to the amount of Registrable Securities registered by them and not joint.

  
 42 

	 	(v)	 If indemnification is available under this Section 27(g), the indemnifying parties
shall indemnify each indemnified party to the full extent provided in Section 27(g)(i) and Section 27(g)(ii) without regard to the relative fault of said indemnifying party or indemnified party or
any other equitable consideration provided for in this Section 27(g)(iv) subject, in the case of the Holders, to the limited dollar amounts set forth in Section 27(g)(ii). 

 

	 	(vi)	 No indemnifying party shall be liable for any settlement effected without its written consent (which consent
may not be unreasonably delayed or withheld). Each indemnifying party agrees that it will not, without the indemnified party’s prior written consent, consent to entry of any judgment or settle or compromise any pending or threatened claim,
action or proceeding in respect to which indemnification or contribution may be sought hereunder unless the foregoing contains and unconditional release, in form and substance reasonably satisfactory to the indemnified parties, of the indemnified
parties from all liability and obligation arising therefrom. 

  

	 	(h)	 For the avoidance of doubt, the obligations of the Parties set forth in this
Section 27 shall not apply in the event that the obligation to file the Registration Statement does not arise pursuant to Section 4(a)(iv)(C). 

Section 28. Backup Transaction. 

If any of the following events occur or conditions are met, the Parties agree not to proceed with the Strict Foreclosure and instead to work in
good faith to implement the Transaction through a chapter 11 plan of reorganization (or such other manner determined by the Requisite Directing Lenders and the Company) pursuant to which the treatment of Term Loan Claims held by Directing Lenders
and Transaction Consenting Lenders shall be on the same terms contemplated herein, and for all other Term Loan Claims recovery shall be no greater than the terms set forth in this Agreement (the “Backup Transaction”), with the
effective date of such chapter 11 plan of reorganization occurring prior to the Outside Date consistent with
 Section 4(a)(iv)(E) of this Agreement: 

 

	 	(a)	 if holders of at least 73% of the aggregate principal amount of all Term Loan Claims outstanding and at least
two (2) Term Loan Lenders that are not Affiliates of each other, Affiliates of the Company or Affiliates of the Initial Directing Lenders have not executed a Joinder Agreement or a Consent Agreement by the end of the Solicitation Period;

  
 43 

	 	(b)	 if the Closing Date has not occurred by the Backup Transaction Toggle Date (it being agreed that the Requisite
Directing Lenders may terminate the Agreement pursuant to Section 6(b)(i) of this Agreement at any time after the Backup Transaction Toggle Date unless the Company agrees, in writing (email shall be sufficient), to
consummate the Backup Transaction, in which case the Closing Date shall still be required to occur prior to the Outside Date); 

  

	 	(c)	 if a temporary restraining order, preliminary or permanent injunction, judgment or other order preventing the
consummation of the Strict Foreclosure shall have been entered, issued, rendered or made by any party other than a Directing Lender, or any proceeding seeking any of the foregoing by any party other than a Directing Lender be commenced or pending;
or if there be any law, rule or regulation promulgated, enacted, entered, enforced or deemed applicable to the Company which makes the consummation of the Strict Foreclosure illegal, void or rescinded; or 

 

	 	(d)	 if there is a pending or threatened (in writing) action, complaint, claim, litigation, law suit, proceeding,
investigation, objection or similar event or circumstance relating to any of the transactions contemplated by this Agreement or any other Definitive Document (a) commenced or asserted by two (2) or more Term Loan Lenders, that are not
Directing Lenders, holding in the aggregate more than 10% of the principal amount of Term Loan Claims then outstanding; (b) that could reasonably be expected to result in the Directing Lenders and the Transaction Consenting Lenders, in the
aggregate, being obligated for in excess of $500,000 in unreimbursed indemnification costs, or (c) that specifically names or asserts claims or causes of action against any Directing Lender (and, in each case, the Company is not aware of any
fact or circumstance that could give rise to or indicate that the same may arise, or be contemplated or threatened); provided that, upon the occurrence of any event in this Section 28(d), SMLP may agree, pursuant to
a written undertaking reasonably acceptable to the Requisite Directing Lenders, to indemnify the Term Loan Agent, Directing Lenders and Transaction Consenting Lenders for any costs, fees, or expenses arising from such action in lieu of consummating
the Backup Transaction and proceed with consummating the Strict Foreclosure. 

 IN WITNESS WHEREOF, the Parties hereto
have caused this Agreement to be executed and delivered by their respective duly authorized officers, solely in their respective capacity as officers of the undersigned and not in any other capacity, as of the date first set forth above. 

[Signature Pages Follow] 

  
 44 

			
	Summit Midstream Partners Holdings, LLC
		
	By:	 	 /s/ J. HEATH DENEKE

	Name:	 	J. Heath Deneke
	Title:	 	President and Chief Executive Officer

 [SMPH Signature Page to Transaction Support Agreement] 

			
	Summit Midstream Partners, LLC
		
	By:	 	 /s/ J. HEATH DENEKE

	Name:	 	J. Heath Deneke
	Title:	 	President and Chief Executive Officer

 [SMP Signature Page to Transaction Support Agreement] 

			
	Summit Midstream Partners, LP, solely for that limited purpose set forth in Sections 4(a)(iv)(B), 4(a)(iv)(C), 5, 8, and 27 of the Agreement
		
	By:	 	 /s/ J. HEATH DENEKE

	Name:	 	J. Heath Deneke
	Title:	 	President and Chief Executive Officer

 [SMLP Signature Page to Transaction Support Agreement] 

 [***] 

[Lender Signature Page to Transaction Support Agreement] 

 Exhibit A 

Term Sheet 

  

SUMMIT MIDSTREAM PARTNERS HOLDINGS, LLC 

TERM SHEET 
  

 
 This term sheet (including all exhibits, schedules
and annexes attached hereto, each as may be amended, restated, supplemented, or otherwise modified from time to time in accordance with the terms of the TSA (as defined below), this “Term Sheet”) sets forth the principal terms of a
proposed consensual discharge of certain indebtedness (the “Term Loan,” and the claims arising therefrom, the “Term Loan Claims,” and the Term Loan credit agreement, the “Credit Agreement”) and
related restructuring of Summit Midstream Partners Holdings, LLC (“SMPH”) and Summit Midstream Partners, LLC (“SMP” and with SMPH, the “Company”). Such debt discharge and restructuring, as
contemplated by this Term Sheet, is referred to herein as the “Transaction”. The date on which the Transaction is consummated is referred to herein as the “Closing Date”. Capitalized terms used but not otherwise
defined herein have the meanings ascribed to such terms in the TSA. 
 This Term Sheet does not include a description of all of the terms, conditions and
other provisions that are to be contained in the definitive documentation executed, delivered, filed and/or distributed in connection with the Transaction, all of which remain subject to discussion and negotiation among the Parties. 

THIS TERM SHEET DOES NOT CONSTITUTE (NOR SHALL IT BE CONSTRUED AS) AN OFFER WITH RESPECT TO ANY SECURITIES OR A SOLICITATION OF ACCEPTANCES
OR REJECTIONS TO ANY SECURITIES OR A SOLICITATION OF ACCEPTANCES OR REJECTIONS AS TO ANY CHAPTER 11 PLAN, IT BEING UNDERSTOOD THAT ANY SUCH OFFER OR SOLICITATION ONLY WILL BE MADE IN COMPLIANCE WITH APPLICABLE PROVISIONS OF SECURITIES, BANKRUPTCY,
AND/OR OTHER APPLICABLE LAWS. 
 THIS TERM SHEET IS PRESENTED FOR DISCUSSION AND SETTLEMENT PURPOSES ONLY AND IS ENTITLED TO
PROTECTION FROM ANY USE OR DISCLOSURE PURSUANT TO RULE 408 OF THE FEDERAL RULES OF EVIDENCE AND OTHER APPLICABLE STATUES OR DOCTRINES PROTECTING THE USE OR DISCLOSURE OF CONFIDENTIAL INFORMATION. THE TRANSACTIONS DESCRIBED HEREIN ARE SUBJECT IN ALL
RESPECTS TO THE NEGOTIATION, EXECUTION, AND DELIVERY OF DEFINITIVE DOCUMENTATION. THE CLOSING OF ANY TRANSACTION IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN SUCH DEFINITIVE DOCUMENTS. NO BINDING OBLIGATIONS WILL BE CREATED BY THIS
RESTRUCTURING TERM SHEET UNLESS AND UNTIL SIGNATURE PAGES TO THE TSA ARE EXECUTED AND DELIVERED BY ALL APPLICABLE PARTIES. 

			
	 Term
	  	 Description

	OVERVIEW
		  	
	 Transaction
 Summary
	  	 The Transaction will be implemented in accordance with a Transaction Support Agreement (the “TSA”), which shall be
entered into by the Company and certain Term Loan Lenders party thereto (the “Directing Lenders”).
  

The Transaction will be implemented as a Strict Foreclosure (as defined below), unless the Back-up Transaction (as
defined below) is to be implemented. The trigger for the Strict Foreclosure shall be an Event of Default (as defined in the Credit Agreement). The Strict Foreclosure and Closing Date will occur after September 30, 2020.

 
 Each Term Loan Lender may, during the fourteen (14) calendar period commencing
within two (2) business days following the effective date of the TSA (such date, the “TSA Effective Date”), or such longer period as may be extended in accordance with the TSA (collectively, the “Solicitation
Period”), (i) become a party to the TSA and execute the Direction to Effect a Strict Foreclosure, Consummate Assignment, and Take Other Actions in Connection Therewith, a form of which is attached hereto as Exhibit 1 (the
“Strict Foreclosure Direction”) or (ii) execute a consent agreement, the form of which is attached to the TSA as Exhibit E (the “Consent Agreement”) and in each case, provided the Term Loan lender has executed
a Mutual Release Agreement substantially in the form attached hereto as Exhibit 3 (the “Mutual Release Agreement”) and the Closing Date has occurred, earn its pro rata share of $20 million cash (the
“Consent Premium”) to be distributed to the Directing Lenders and those lenders that execute a Consent Agreement (the “Transaction Consenting Lenders”).

 
 On the Closing Date, pursuant to the Strict Foreclosure Direction, the Directing
Lenders, as Required Lenders under the Credit Agreement, shall direct Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and Collateral Agent for the Term Loan lenders (the “Term Loan Lenders”) under the Credit
Agreement (the “Term Loan Agent”) to execute the Strict Foreclosure against the 34.6 million common units representing limited partner interests in Summit Midstream Partners, LP (“SMLP”) currently pledged to
the Term Loan Agent, on behalf of the Term Loan Lenders, as collateral under the Credit Agreement (the “Specified Collateral”) and SMPH shall pay $6.5 million cash (the “Additional Consideration”) to
all Term Loan Lenders pro rata in full satisfaction of all Term Loan Claims and all of the Company’s obligations under the Credit Agreement pursuant to the terms of the Notification of Proposal of Strict Foreclosure attached hereto as
Exhibit 2 (the “Strict Foreclosure Agreement” and the transaction contemplated therein, the “Strict Foreclosure”).
  

In addition to the Strict Foreclosure on the Specified Collateral and the payment of the Additional Consideration, on the Closing Date SMPH shall pay the
Directing Lenders and the Transaction Consenting Lenders, as applicable, their pro rata portions of the Consent Premium.

			
	 Term
	  	 Description

		
	 Debt to Be
 Satisfied

 
	  	All Term Loan Claims outstanding on the Closing Date.
	Treatment of Term Loan Claims	  	 On the Closing Date, in exchange for the cancellation and release of all outstanding Term Loan Claims and related security interests pursuant
to the Strict Foreclosure Agreement, including the non-economic Summit Midstream GP, LLC interest in SMLP, each Term Loan Lender shall receive, in full and final satisfaction of its Term Loan Claims, its
pro rata share (based upon the aggregate amount of Term Loan Claims held by all Term Loan Lenders) of:
  

i. the Specified Collateral, which shall either be registered for resale by the Directing Lenders and Transaction Consenting Lenders under Section 5 of
the Securities Act of 1933 or eligible for resale pursuant to an exemption from such registration requirements; and
  

ii. the Additional Consideration.
  

	Consent Premium	  	 On the Closing Date, in exchange for the undertakings set forth in the TSA and/or the Consent Agreement, as applicable, each Directing Lender
and Transaction Consenting Lender shall receive its pro rata share (based upon the aggregate amount of Term Loan Claims held by all Directing Lenders and Transaction Consenting Lenders in the aggregate) of the Consent Premium.

 

	Ad Hoc Group Fees and Expenses	  	 The Company shall pay or reimburse reasonable and documented fees and expenses of Stroock as counsel to the Ad Hoc Group in accordance with
the TSA.
  

	 GENERAL PROVISIONS

 

	SMLP Payment	  	On or prior to the Closing Date, SMLP, in full satisfaction of the $180,750,000 deferred purchase price obligation owed from SMLP to SMPH (the “DPPO”), shall transfer to SMPH cash equal to the Consent Premium and
the Additional Consideration.

			
	 Term
	  	 Description

	Closing Date	  	 The Closing Date shall be the date (at least one (1) business day following the conclusion of the Solicitation Period) that (a) is
three (3) business days after the date that the SEC issues interpretive guidance, which may take the form of a no action letter or other customary interpretive action, concerning the availability of Rule 144(d)(3)(iv) to the sale of the
Specified Collateral or (b) the registration statement shall be declared effective by the SEC covering the resale of the registrable securities distributed to the Directing Lenders and the Transaction Consenting Lenders, in each case, provided
all other conditions precedent set forth in the TSA are satisfied or waived, or such earlier date as agreed by the Directing Lenders required to consent under the TSA (the “Requisite Directing Lenders”) and the Company;
provided that if the Backup Transaction (as defined below) is consummated, the Closing Date shall be the effective date of the chapter 11 plan of reorganization or such other date as agreed to by the Company and the Requisite Directing
Lenders.
  

	Releases	  	 Pursuant to the Mutual Release Agreement, the parties to the TSA and the Transaction Consenting Lenders shall provide customary mutual
releases of all claims arising under or related to the Term Loan, the Transaction, the DPPO, and any actions taken related to the foregoing.
  

	Governance	  	 There will be no change to the existing board of directors of the Company as a result of the TSA or the Transaction contemplated therein.

 

	Backup Transaction	  	 As set forth in the TSA, if certain conditions are met or events occur, the Transaction will be implemented through a chapter 11 plan of
reorganization (or such other manner determined by the Requisite Directing Lenders and the Company) pursuant to which the treatment of Term Loan Claims held by Directing Lenders and Transaction Consenting Lender shall be on the same terms
contemplated herein, and for all other Term Loan Claims recovery shall be no greater than the terms set forth in this Term Sheet (the “Backup Transaction”). The terms and conditions of the Backup Transaction shall be negotiated
among the Requisite Directing Lenders and the Company in their sole discretion.
  

	Reservation of Rights	  	 Nothing herein is intended to, or does, in any manner waive, limit, impair or restrict the ability of each of the Company and the Directing
Lenders to protect and fully preserve all of their rights, remedies, claims and interests, including the Directing Lenders’ claims against the Company or any other party in interest or their respective property. If the Transaction is not
consummated, the Company and the Directing Lenders fully reserve any and all of their respective rights.
  

	Amendments	  	 This Term Sheet may be amended only as permitted pursuant to the TSA.

 

	Governing Law	  	New York.

 Exhibit 1 

Form of Strict Foreclosure Direction 

 October [__], 2020 

 

	To:	 Credit Suisse AG, Cayman Islands Branch, 

as Administrative Agent and Collateral Agent 

Eleven Madison Avenue 
 New York,
New York 10010 
 Attn: [Sean Portrait] 

Fax: [***] 
 Email: [***] 

DIRECTION TO EFFECT A STRICT FORECLOSURE AND TAKE OTHER ACTIONS IN CONNECTION THEREWITH 

Reference is made to (a) that certain Term Loan Agreement, dated as of March 21, 2017 (as amended, restated, supplemented or
otherwise modified from time to time prior to the date hereof, the “Credit Agreement”), by and among Summit Midstream Partners Holdings, LLC, a Delaware limited liability company (the “Borrower”), the undersigned
and each other Person from time to party thereto as a “Lender” (as defined therein) (collectively, the “Lenders”), and Credit Suisse AG, Cayman Islands Branch, as administrative agent and as collateral agent for the
Lenders (in such capacity, the “Collateral Agent”), (b) that certain Guarantee and Collateral Agreement, dated as of March 21, 2017 (as amended, restated, supplemented or otherwise modified from time to time prior to the date
hereof, the “Guarantee and Collateral Agreement”) by and among the Borrower, Summit Midstream Partners, LLC, a Delaware limited liability company (the “Pledgor” and, together with the Borrower, the
“Debtors”) and the Collateral Agent, and (c) that certain Transaction Support Agreement, dated as of September 29, 2020 by and among Debtors and the undersigned Lenders (as amended, restated, supplemented or otherwise
modified from time to time prior to the date hereof, the “TSA”). Capitalized terms used but not defined in this Direction To Effect A Strict Foreclosure And Take Other Actions In Connection Therewith (this
“Direction”) have the meaning ascribed to such terms in the Credit Agreement and, if not defined therein, in the TSA. 

I. Authorization and Direction to Effect the Strict Foreclosure Transactions. The undersigned Lenders (collectively, the
“Directing Lenders”) are entering into and delivering this Direction in accordance with Article VIII of the Credit Agreement, and solely in their collective capacity as Required Lenders under the Credit Agreement, and pursuant to,
and in reliance upon the rights, remedies and other privileges afforded to them under, and the representations, warranties, covenants and consents of the Debtors and other Persons contained in, the TSA, the Definitive Documents and the Loan
Documents (including the consents of the Transaction Consenting Lenders party to the Consent Agreement). By delivering this Direction, the Directing Lenders hereby authorize and direct the Collateral Agent, upon the terms of this Direction (without
limiting any other rights and remedies under the TSA, the Definitive Documents, the Loan Documents and under applicable law, at equity or otherwise), to: 
  

	(a)	 execute and deliver to the Debtors and any other Person entitled by applicable law to receipt thereof, that
certain Strict Foreclosure Agreement, in the form attached as Exhibit A hereto (the “Strict Foreclosure Agreement”); 

  
 1 

	(b)	 perform its obligations under, and consummate the transactions contemplated by, the Strict Foreclosure
Agreement (including the Strict Foreclosure (as defined in the Strict Foreclosure Agreement)), in each case, in accordance with, and as set forth in more detail in, the Strict Foreclosure Agreement (including, for the avoidance of doubt, to
(i) pursuant to §§ 9-620 and 9-621 and any other comparable provision of the Uniform Commercial Code, as adopted in the State of New York or any other
applicable jurisdiction (the “UCC”), accept (directly or indirectly), on behalf and for the benefit of the Lenders in accordance with the Loan Documents, all of the Debtors’ right, title and interest in and to 34,604,581 freely
tradeable common units representing limited partner interests in Summit Midstream Partners, LP, which units are, as of the date hereof, pledged as Collateral and subject to a Lien in favor of the Collateral Agent for the benefit of the Lenders (the
“Specified Collateral”) and (ii) apply, transfer and/or distribute, as applicable (or direct the application, transfer and/or distribution, as applicable, of) the Specified Collateral, together with the Additional Consideration
(as defined in the Strict Foreclosure Agreement) to the Lenders (or, with respect to any Directing Lender or Transaction Consenting Lender, to its designee, as may be directed in writing to the Collateral Agent by such Directing Lender or
Transaction Consenting Lender) in accordance with Section 9.23 of the Credit Agreement and the other applicable provisions of the Loan Documents) (the foregoing, and any other transactions relating to the Specified
Collateral and expressly contemplated by the Strict Foreclosure Agreement, the “Strict Foreclosure Transactions”); and 

  

	(c)	 take such other steps as are necessary or appropriate in the reasonable good faith judgment and discretion of
the Collateral Agent, exercised in accordance with the Loan Documents, to consummate the Strict Foreclosure Transactions in accordance with the Strict Foreclosure Agreement. 

For the avoidance of doubt, to the extent that acceptance by (and/or delivery, transfer and/or distribution to) the Collateral Agent of the
Specified Collateral is, pursuant to the UCC (or other applicable law or statue) a condition to effectuating a valid strict foreclosure under the UCC, such condition shall be deemed complied with for all purposes under the UCC and otherwise upon the
Specified Collateral being accepted by (and/or delivered, transferred and/or distributed to) the Lender entitled thereto pursuant to the Loan Documents (or, in the case of any Directing Lender or Transaction Consenting Lender, to such Directing
Lender’s or Transaction Consenting Lender’s designee, as notified in writing by such Directing Lender or Transaction Consenting Lender to the Collateral Agent in connection therewith). 

  
 2 

 II. Agent Matters Following Consummation of the Strict Foreclosure Transactions.

 The Directing Lenders are delivering this Direction in reliance on, among other things, the Debtors’ representation and warranty
as set forth in the TSA that the exculpatory, expense reimbursement and indemnification obligations of the Borrower in favor of the Collateral Agent set forth in the Loan Documents (including Section 9.05 of the Credit
Agreement) shall continue in full force and effect through and following the consummation of, and shall apply (and be deemed and construed to apply) to, the Strict Foreclosure Transactions and all transactions and matters relating thereto, and all
documents entered into, or actions taken by the Collateral Agent, in connection therewith, and that, pursuant thereto, the Debtors are obligated, jointly and severally, to reimburse, indemnify and hold harmless the Collateral Agent and each of its
Related Parties from and against all losses, penalties, claims, damages, liabilities, actions, judgments, suits, costs and expenses of any kind incurred, arising out of or in connection with, or relating to any of the foregoing. Accordingly, the
Directing Lenders hereby confirm that (i) Section 8.12 of the Credit Agreement shall, as between and among the Lenders and the Collateral Agent, apply to this Direction and to all actions taken or not taken by the
Collateral Agent in accordance with or pursuant to authorization granted under this Direction (including, without limitation, the execution and delivery of the Strict Foreclosure Agreement), and (ii) to the extent obligated to do so under
Section 8.12 of the Credit Agreement, the Directing Lenders shall (to the extent the Debtors fail to do so) reimburse the Collateral Agent severally and ratably in accordance with their respective pro rata shares of the
outstanding Loans (determined on the basis of the amounts reflected in the Register as of the Closing Date (as defined in the Strict Foreclosure Agreement)), for any liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses of any kind whatsoever described in Section 8.12 of the Credit Agreement that may be incurred by the Collateral Agent in connection with the taking or omitting to take any action pursuant to this Direction;
provided, that, the Directing Lenders’ obligations hereunder shall not in any way limit or otherwise affect the continuing exculpatory, expense reimbursement and indemnification obligations of the Debtors, any other Lender or any other
Person in favor of the Collateral Agent under the Loan Documents or otherwise. 
 III. Acknowledgment of Full Satisfaction.
Each Lender signatory hereto agrees and acknowledges that the Strict Foreclosure Transactions and the other transactions contemplated by the TSA are intended to result in the satisfaction and discharge in full of the Obligations (other than any
obligations set forth in the provisions of the Term Loan Agreement and the other Loan Documents that expressly survive termination of the Term Loan Agreement or the other Loan Documents pursuant to their terms) by operation of law in accordance with
the applicable provisions of the UCC. 
 IV. Ownership of Loans. Each Directing Lender represents, warrants and
covenants (severally and not jointly) that, on the date hereof, such Directing Lender owns the principal amount of Obligations set forth opposite its name on its signature page hereto. The Collateral Agent shall not have any obligation to comply
with this Direction if it in good faith concludes that the Directing Lenders signatory hereto no longer constitute Required Lenders. Each Directing Lender hereby confirms and agrees that this Direction shall not be revoked except by another written
direction to the Collateral Agent issued by or on behalf of the Required Lenders which overrides the directions set forth in this Direction; provided that the same is delivered sufficiently in advance to halt the exercise of such remedies.

  
 3 

 V. Effectiveness; Amendments. This Direction shall be effective upon
delivery of a copy of same to the Collateral Agent, duly executed by Lenders sufficient to collectively constitute Required Lenders. No modification, amendment or supplement to, or waiver, forbearance or consent under or with respect to, this
Direction shall be effective without the prior written consent of Lenders party hereto who collectively constitute Required Lenders at such time. 

VI. Miscellaneous. 

(a) No Strict Construction. The language used in this Direction will be deemed to be the language jointly chosen by the parties hereto
to express their mutual intent, and no rule of strict construction will be applied against any person. 
 (b) Captions. The captions
herein are for convenience of reference only, do not constitute part of this Direction and shall not be deemed to limit or otherwise affect any of the provisions hereof. 

(c) Counterparts. This Direction may be executed (by facsimile or PDF signature) in any number of counterparts, each such counterpart
being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement. 
 (d) Governing
Law. THIS DIRECTION AND ALL MATTERS ARISING HEREUNDER OR RELATED HERETO SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAW OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. EACH PARTY HERETO HEREBY CONSENTS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE BOROUGH OF MANHATTAN, STATE OF NEW YORK AND IRREVOCABLY
AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING OUT OF OR RELATING TO THIS DIRECTION SHALL BE LITIGATED IN SUCH COURTS. EACH PARTY HERETO EXPRESSLY SUBMITS AND CONSENTS TO THE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON
CONVENIENS. EACH PARTY HERETO HEREBY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE UPON IT BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED TO IT AT THE ADDRESS SET FORTH
IN THIS DIRECTION AND SERVICE SO MADE SHALL BE COMPLETE TEN (10) DAYS AFTER THE SAME HAS BEEN POSTED. 
 (e) Entire Agreement.
This Direction embodies the entire agreement of Agent and the Directing Lenders party hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings relating to the subject matter hereof and any draft
agreements, negotiations or discussions relating to the subject matter hereof. 
 (f) Conflicts. For the avoidance of doubt, to the
extent there is any conflict between the Strict Foreclosure Agreement or any other document relating to the Strict Foreclosure Transactions on the one hand, and this Direction on the other hand, this Direction shall control. 

  
 4 

 (g) General Terms and Conditions. In addition to and without limitation of any of the
foregoing, this Direction shall be deemed to be a Loan Document and shall otherwise be subject to all of general terms and conditions contained in the Credit Agreement, mutatis mutandis. 

[Signature Pages Follow] 

  
 5 

 In witness whereof, the undersigned Directing Lenders, collectively constituting the
Required Lenders, have caused this Direction to be executed by their duly authorized representatives, as of the date first written above. 
  

			
	[_____], as a Directing Lender
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	Aggregate outstanding Loans: $[___]

			
	 Agreed and Acknowledged:
  

	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent
		
	By:	 	 
	Name:	 	
	Title:	 	

 Exhibit A 

Strict Foreclosure Agreement 

[attached as Exhibit 2 to Exhibit A to the Transaction Support Agreement] 

 Exhibit 2 

Form of Strict Foreclosure Agreement 

 STRICT FORECLOSURE AGREEMENT 

This Strict Foreclosure Agreement, dated as of [__], 2020 (as amended, supplemented or otherwise modified from time to time in accordance with
the terms hereof, this “Agreement”), by and among Summit Midstream Partners Holdings, LLC, a Delaware limited liability company (the “Borrower”), Summit Midstream Partners, LLC, a Delaware limited liability company
(the “Parent” and, together with the Borrower, the “Debtors”), and Credit Suisse AG, Cayman Islands Branch, as collateral agent for and on behalf of the Lenders (as defined below) (in such capacity, the
“Collateral Agent”). 
 RECITALS 

I. The Borrower is party to that certain Term Loan Agreement, dated as of March 21, 2017 (as amended, supplemented or otherwise modified
from time to time prior to the date hereof, the “Credit Agreement”), by and among the Borrower, the lenders from time to party thereto (collectively, the “Lenders”), the Collateral Agent and Credit Suisse AG, Cayman
Islands Branch, in its capacity the Administrative Agent (as defined therein) (the Administrative Agent and the Collateral Agent, each, an “Agent” and, unless the context requires otherwise, collectively, the
“Agents”). All capitalized but undefined terms used herein shall have the meanings as set forth in the Credit Agreement or, if not defined therein, in the Collateral Agreement (as defined below). 

II. Pursuant to the Credit Agreement, the Borrower has received Loans and other financial accommodations from the Lenders. As of the Effective
Time, (i) the aggregate amount of outstanding Obligations is equal to $[___], comprising (A) outstanding Loan principal in an aggregate amount equal to $[___] and (B) accrued and unpaid interest and other Obligations (other than the
outstanding principal) in an aggregate amount equal to $[___] and (ii) there are no outstanding secured Swap Obligations. Accordingly, the Obligations constitute the only outstanding Secured Obligations for all purposes under the Loan Documents
and otherwise. 
 III. In connection with the Borrower’s entry into the Credit Agreement and the Loans and other credit extensions and
accommodations made to the Borrower by the Lenders thereunder, the Borrower, as “Grantor”, the Parent, as “Pledgor” and “Guarantor”, and the Collateral Agent entered into that certain Guarantee and Collateral Agreement,
dated as of March 21, 2017 (as amended, supplemented or otherwise modified from time to time prior to the date hereof, the “Collateral Agreement”), pursuant to which the Parent guaranteed the payment and performance of the
Secured Obligations, and the Debtors pledged in favor of the Collateral Agent (acting as agent for the benefit of the Lenders, as ultimate pledgees and beneficiaries of the rights granted under such pledge), and granted to the Collateral Agent
(acting as agent for the benefit of the Lenders) a security interest in, and Lien on, the Collateral (including 34,604,581 common units representing limited partner interests in Summit Midstream Partners, LP (the “SMLP Common
Equity”) owned by the Borrower as of March 21, 2017 (such SMLP Common Equity, the “Specified Collateral”)). 

 IV. Pursuant to the Loan Documents (including Sections 8.01 and 8.15 of the
Credit Agreement, and Section 8.14 of the Collateral Agreement) (i) the authority to enforce rights and remedies under the Loan Documents against the Debtors, and the right to institute all actions and proceedings in
connection with such enforcement, has been vested in the Collateral Agent for the benefit of the Lenders, and the Secured Parties have appointed, authorized and instructed the Collateral Agent to, as agent on their behalf, take such actions, and to
exercise such powers and discretions under the Loan Agreement, the other Loan Documents or any other instrument or document furnished pursuant thereto as are delegated to the Collateral Agent by the terms hereof or thereof, together with such powers
as are incidental thereto and (ii) upon an Event of Default, the Collateral Agent is entitled to exercise in respect of the Collateral all rights and remedies provided for in the Collateral Agreement (including as set forth in
Section 6.01 thereof), and all other rights and remedies otherwise available to it at law or in equity, including all rights and remedies of a secured creditor under the UCC (whether or not the UCC applies to the affected
Collateral) (including the right under Sections 9-620 through 9-622 of the UCC to accept the Specified Collateral (or to direct the acceptance of the Specified
Collateral by the Lenders in accordance with the Loan Documents) in full satisfaction of the Obligations, and the right to collect, enforce or satisfy any Secured Obligations then owing, whether by acceleration, foreclosure or otherwise)
(collectively, the “Enforcement Rights”), which Enforcement Rights may be pursued separately, successively or simultaneously at the Collateral Agent’s discretion or as directed by the Required Lenders pursuant to the terms of
the Credit Agreement. 
 V. As of the date hereof, (i) certain Events of Default (including an Event of Default pursuant to
Section 7.01(b) of the Credit Agreement resulting from the Borrower’s failure to pay the principal amount constituting amortization payment due on September 30, 2020 as required under Section 2.07(a) of the Credit Agreement)
(collectively, the “Existing Events of Default”) have occurred and are continuing, and no waiver or forbearance in respect thereof has been provided by any of the Secured Parties and (ii) as a result of the foregoing,
(A) all Obligations have been properly, validly and unconditionally accelerated and declared by the Administrative Agent, at the direction of the Required Lenders, to be forthwith due and payable in full in accordance with the Credit Agreement,
as set forth in further detail in that certain Notice of Event of Default and Acceleration, dated as of [__], 2020 (the “Default and Acceleration Notice”) delivered by the Administrative Agent to the Borrower prior to the date
hereof and (B) as a result of the Borrower’s failure to pay the amounts due upon acceleration, the Collateral Agent is immediately entitled to exercise all Enforcement Rights, and has been instructed and directed by the Required Lenders to
exercise the foreclosure rights available under the UCC and applicable law, and as set forth and described further in this Agreement. 
 VI.
The Debtors, certain Lenders constituting not less than the Required Lenders and certain other persons entered into that certain Transaction Support Agreement, dated as of September 29, 2020 (as modified from time to time, the
“Transaction Support Agreement”) setting forth certain agreements with respect to the Existing Events of Default and certain other matters relating to the Obligations, and the parties are entering into this Agreement to effectuate
certain transactions contemplated thereby. 

  
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 VII. Subject to the terms and conditions hereof and the Transaction Support Agreement,
pursuant to Sections 9-620 through 9-622 of the UCC, in lieu of necessitating the Collateral Agent to make a proposal pursuant to
Section 9-620 of the UCC or to undertake a foreclosure sale as provided under the Loan Documents and the UCC, the parties hereby agree that, at the Effective Time, the Borrower shall, at the direction of
the Collateral Agent (acting in its capacity as the secured party of record with respect to the Specified Collateral for purposes of the UCC, and in its capacity as collateral agent for the Lenders in accordance with the Loan Documents) (which
direction shall be deemed to be given by the Collateral Agent automatically at the Effective Time) convey to each Lender (or convey to the Collateral Agent for further distribution to each Lender) entitled to receive the same pursuant to the Loan
Documents or to such Lender’s designee (such Lender or its designee, the “Applicable Transferee”), in accordance with the waterfall and application of proceeds provisions set forth in Section 6.02 of the Collateral
Agreement and Section 9.23(b) of the Credit Agreement, and each such Applicable Transferee shall accept, its ratable share (which shall be calculated in accordance with the Credit Agreement (with respect to each Lender, its “Ratable
Share”)) of the Borrower’s right, title and interest in and to the Specified Collateral, together with its Ratable Share of $6.5 million in cash (the “Additional Consideration”). 

VIII. Each of the Debtors hereby consents, without any objection of any kind or nature, to acceptance of the Specified Collateral and the
Additional Consideration (as described in the preceding paragraph) by the Collateral Agent or the Applicable Transferees, which acceptance shall, to the extent permitted under the UCC and applicable law, be made in full satisfaction of all
then-outstanding Obligations (other than any obligations set forth in the provisions of the Term Loan Agreement and the other Loan Documents that expressly survive termination of the Term Loan Agreement or the other Loan Document pursuant to their
terms after giving effect to the Mutual Release Agreement (as defined in the Transaction Support Agreement, the “Mutual Release Agreement”) (such surviving obligations, the “Surviving Obligations”)) (the
foregoing transfer and acceptance of the Specified Collateral, the “Strict Foreclosure” and, together with all transactions relating thereto or consummated in connection therewith, the “Strict Foreclosure
Transactions”). 
 IX. The Debtors acknowledge that in consideration for their consent to this Agreement and the conveyance of the
Specified Collateral and the Additional Consideration as described above, the Debtors are receiving good and valuable consideration in the form of satisfaction in full and discharge of the Obligations (except any Surviving Obligations). 

AGREEMENT 
 NOW
THEREFORE, in consideration of the mutual promises and agreements set forth herein, the Debtors and the Collateral Agent (acting at the direction of the Required Lenders) are entering into this Agreement and hereby agree as follows: 

1. Incorporation of Recitals; Defined Terms. The Recitals set forth above are true and correct, and are incorporated into, and form an
integral, operative and legally valid, binding and fully enforceable material term of, this Agreement and the agreement among the parties contained herein. 

  
 3 

 2. Transfer and Acceptance. 

2.1 Specified Collateral. 

(a) At the Effective Time, at the direction of the Collateral Agent (which shall be deemed to have been given hereunder
automatically and immediately at the Effective Time), the Borrower hereby assigns, transfers and delivers to the Collateral Agent (for further distribution to the Applicable Transferees of their Ratable Shares thereof in accordance with the terms of
the Loan Documents) (or, if directed to do so in writing by the Collateral Agent prior to the Effective Time (such direction, the “Applicable Transferee Distribution Direction”), directly to the respective Applicable Transferees),
and the Collateral Agent (or relevant Applicable Transferee, if the Applicable Transferee Distribution Direction has been provided) shall acquire and take assignment and delivery in accordance with the Credit Agreement and the other Loan Documents
of the Borrower’s right, title and interest in and to the Specified Collateral (or, in the case of an Applicable Transferee, its Ratable Share thereof) pursuant to the Strict Foreclosure. For purposes of this Agreement and the Strict
Foreclosure, the Collateral Agent and/or each Applicable Transferee that receives Specified Collateral in accordance with this clause (a) shall each constitute a “Specified Collateral Recipient”. 

(b) Each of the Debtors acknowledges and agrees that, upon the assignment, acquisition, delivery and/or transfer (as
applicable) of the Specified Collateral as provided above, each Specified Collateral Recipient shall be the sole owner of the relevant portion of the Specified Collateral transferred to it, and shall be entitled to all proceeds of such Specified
Collateral of any kind whatsoever, and no Debtor or any Affiliate thereof or any other Person shall be entitled to any such proceeds. Each of the Debtors shall hold, and shall cause each of its Affiliates to hold, for the benefit of and in trust for
the Specified Collateral Recipients, all proceeds of the Specified Collateral of any kind whatsoever received by it. Each Debtor shall, immediately following the receipt of any such proceeds by such Debtor or any of its Affiliates, remit (or procure
and cause to be remitted) to the Specified Collateral Recipient such proceeds (or, with respect to remittance to an Applicable Transferee, its Ratable Share thereof), and shall not commingle or permit the commingling of such proceeds with any other
property of the Debtors or any other Person. 
 (c) The parties hereby further acknowledge and agree that if, upon
consummation of the Strict Foreclosure Transaction, any Specified Collateral is registered in the name of the Collateral Agent, the Collateral Agent is hereby authorized by the Debtors (without the need for any further action or authorization) to
take all actions and enter into any and all arrangements deemed by the Collateral Agent (in its discretion or at the direction of any Applicable Transferee) to be reasonably necessary or desirable in order to render any 

  
 4 

 Applicable Transferee the legal owner of its Ratable Share of the Specified Collateral
(including to record and register such Specified Collateral in the name of such Applicable Transferee). Each Debtor hereby appoints the Collateral Agent as its
attorney-in-fact, with full power and authority to (x) sign or endorse such Debtor’s name on the Specified Collateral (or any portion thereof) and on such
other instruments or documents, in each case, to the extent the Collateral Agent (in its discretion or at the direction of any Applicable Transferee) deems the same to be reasonably necessary or desirable to create, establish, evidence, reflect,
maintain, protect and/or enforce (as the case may be) the Collateral Agent’s or any Applicable Transferee’s rights in any Specified Collateral, (y) take any other action to enforce this Agreement and/or exercise the Collateral
Agent’s or any Applicable Transferee’s rights in and to the Specified Collateral, and (z) collect or realize any proceeds of the Specified Collateral. 

(d) Without limiting anything else herein (including Section 6.8 hereof) or in the Loan Documents, in addition to any
other documents required to be delivered by it hereunder or in connection with the Strict Foreclosure Transactions, each Debtor hereby covenants and agrees to promptly deliver to the Collateral Agent or the relevant Applicable Transferee (as the
case may be), all information related to the Specified Collateral and Additional Consideration that the Collateral Agent or such Applicable Transferee may reasonably request from time to time. 

2.2 Compliance with the UCC. 

(a) It is the express intent of the parties hereto that the Strict Foreclosure, including the acceptance and transfer of the
Specified Collateral thereunder and as otherwise contemplated by this Agreement, be consummated pursuant to, and shall constitute an “acceptance” of collateral in full satisfaction of the Obligations (except any Surviving Obligations) in
accordance with, and to the full extent required by, Sections 9-620, 9-621, 9-622 and any other comparable provision of the UCC.
Accordingly, upon the Effective Time, to the extent permitted under the UCC and applicable law, all Liens securing the Obligations shall be deemed to be fully released, and the Credit Agreement and the other Loan Documents shall automatically
terminate (except in the case of any provisions thereof that are expressed to survive any satisfaction, discharge, release or termination of the Obligations or Loan Document after giving effect to the Mutual Release Agreement). 

(b) Without limiting anything else, for all purposes under the UCC and other applicable law (including the Securities Act of
1933) and the Loan Documents, and including to the extent necessary or desirable to effectuate the Strict Foreclosure in compliance with the requirements for a strict foreclosure pursuant to Sections 9-620, 9-621, 9-622 and each other comparable provision of the UCC, (i) each of the Collateral Agent and the Lenders shall be deemed 

  
 5 

 pledgees of the Applicable Collateral, in each case, subject to the terms of the Loan
Documents, and (ii) acceptance of the Specified Collateral in connection with the Strict Foreclosure by the Collateral Agent (as agent for and on behalf of the Lenders pursuant to the Loan Documents) or by the Applicable Transferees in
accordance with the Loan Documents, shall, in each case, constitute “acceptance” of collateral by the pledgee for whose benefit the pledge was created, and shall have the same validity and legal force and effect, and, accordingly, shall
act as the “acceptance” required to validly and properly effectuate a strict foreclosure pursuant to the UCC, other applicable law and/or the Loan Documents. 

(c) The Debtors acknowledge and agree that this Agreement shall be deemed the Debtors’ acceptance and consent to strict
foreclosure over, and the Collateral Agent’s or Applicable Transferee’s (as applicable) acceptance of, the Specified Collateral in full satisfaction of the Obligations (except any Surviving Obligations), subject to the other terms and
conditions specified herein. 
 (d) Each Debtor (to the extent of any such right) hereby voluntarily: (i) waives any
right to receive a proposal of strict foreclosure pursuant to Section 9-620 of the UCC, (ii) acknowledges that its execution of this Agreement constitutes a “record authenticated after
default” for purposes of, and within the meaning of, Section 9-620(c)(2) of the UCC, (iii) agrees to fully cooperate with, and assist in, delivering, and in assigning or otherwise transferring
the ownership interests in, and title to, the Specified Collateral, to the Collateral Agent and/or any Applicable Transferee (as applicable), including by executing or delivering such further instruments or documents, or taking such further actions,
as are necessary or desirable to effectuate such transfer of ownership and title; (iv) acknowledges that the agreement by the Applicable Transferees and the Collateral Agent (as the case may be) to accept the Specified Collateral pursuant to
the Strict Foreclosure is subject to the terms of, and conditional upon satisfaction of all applicable conditions set forth in, this Agreement, the Transaction Support Agreement and the Loan Documents, (v) waives its right to notification of
disposition of the Specified Collateral under UCC Sections 9-611, 9-620 and 9-621 or other notification under other applicable
law, under the Loan Documents, (vi) waives any right to a public auction of the Specified Collateral to the highest bidder, (vii) waives any right to redeem the Specified Collateral under UCC
Section 9-623, the Loan Documents or otherwise, (viii) waives any right to any surplus value in the Specified Collateral under UCC Section 9-608, the Loan
Documents or otherwise, (ix) waives any right to object to the transactions contemplated by this Agreement, (x) waives any other rights under the UCC, the Loan Documents, whether legal or equitable, which it may possess in and to the
Specified Collateral and (xi) agrees that the transactions contemplated hereby are commercially reasonable. 

  
 6 

 3. Effective Time. 

3.1 Effective Time. The Strict Foreclosure shall be deemed to have been consummated in accordance herewith and the
applicable provisions of the UCC, Loan Documents, and Definitive Documents (as defined in the Transaction Support Agreement) on the date hereof immediately and automatically upon satisfaction of each of the following conditions precedent (the time
of such satisfaction, the “Effective Time”): 
 (a) The Debtors shall have executed a General Assignment and
Bill of Sale in substantially the form of Exhibit A hereto in favor of each Specified Collateral Recipient, and delivered the same to the Collateral Agent for further distribution to each Specified Collateral Recipient. 

(b) All conditions precedent to the Closing Date (as defined in the Transaction Support Agreement), as set forth in the
Transaction Support Agreement, shall have been satisfied or waived in accordance with the terms of the Transaction Support Agreement, as certified to the Collateral Agent (for the benefit of it and the Lenders) in writing on behalf of the Debtors by
the secretary or other responsible officer of the Borrower. 
 (c) Each Debtor shall have delivered to the Collateral Agent
(for the benefit of it and the Lenders) a copy of the resolution of the board of managers (or other equivalent body) of such Debtor authorizing such Debtor to enter into this Agreement and the Transaction Support Agreement, and to consummate the
Strict Foreclosure Transactions, which resolution shall be certified in writing by the secretary or comparable officer of such Debtor. 

(d) The Debtors shall have delivered all books and records relating to the Specified Collateral to the Collateral Agent (for
further distribution to the Lenders), other than those subject to attorney-client privilege and/or the attorney work-product doctrine. 

3.2 Post-Effective Time Matters. Upon consummation of the Strict Foreclosure at the Effective Time as provided above:

 (a) The Borrower and the Collateral Agent (or any person or entity designated by the Borrower or the Collateral Agent as
its delegate for this purpose) shall be authorized to file (at the sole cost and expense of the Borrower) the UCC termination statements and other applicable release and termination documentation necessary to effectuate, evidence or reflect in the
public record, and/or to notify all applicable parties of, the release, discharge and termination of the Liens and Loan Documents described in Section 2.2(a) above. 

  
 7 

 (b) Without limiting the foregoing, the Collateral Agent shall be deemed
authorized to release, and shall release, the Liens granted to it in favor of the Secured Parties on all property and assets constituting Collateral (other than the Specified Collateral), whereupon the title and interest therein shall be deemed to
revert to the Debtor that granted such Lien, or to such other Person as shall be entitled thereto pursuant to applicable law, as the case may be. 

4. Representations, Warranties, and Covenants of the Debtors. Each Debtor, for the benefit of the Collateral Agent and Applicable
Transferees, represents, warrants and covenants as follows, in each case, at and as of the Effective Time: 
 4.1 Power
and Authority. Such Debtor has all requisite limited liability company power and authority to enter into this Agreement and to carry out the transactions contemplated by, and perform its obligations under, this Agreement. 

4.2 Governmental Consents. The execution and delivery by such Debtor of this Agreement and the performance by it of this
Agreement does not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any federal, state or other governmental authority or regulatory body. 

4.3 No Conflict; No Claims. The execution and delivery by such Debtor of this Agreement, the consummation by it of the
Strict Foreclosure Transactions, and the performance by such Debtor of this Agreement does not and will not (i) violate any provision of any law or any governmental rule or regulation applicable to such Debtor, or any order, judgment or decree
of any court or other agency of government binding on such Debtor, (ii) violate any provision of any organizational documents of such Debtor or (iii) violate any material agreement or instrument to which such Debtor is a party or which
binds such Debtor or its assets (including the Specified Collateral). 
 4.4 Binding Obligation. This Agreement has
been duly executed and delivered by such Debtor and is the legally valid and binding obligation of such Debtor, enforceable against such Debtor in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability. 

4.5 Title; Rights; Claims. 

(a) To the Borrower’s knowledge, the Borrower is the sole legal and beneficial owner of the Specified Collateral, and no
Person (other than the Collateral Agent and the Applicable Transferees) has any claim or interest of any kind whatsoever in, or any Lien on (including any security interest in any of the Specified Collateral that is subordinate to the Collateral
Agent’s security interest therein as contemplated under Section 9-620(a)(2)(B) and other comparable provisions of the UCC), any of the Specified Collateral or any proceeds thereof as contemplated
under Section 9-621(a)(1) and other comparable provisions of the UCC. 

  
 8 

 (b) All Equity Interests comprised in the Specified Collateral have been
duly authorized and validly issued, are fully paid and non-assessable, and are not subject to any preemptive rights. Other than agreements with, or otherwise in favor of, the Collateral Agent or any of the
Applicable Transferees (or any of their respective Affiliates), there are no agreements which may obligate any Debtor or any of their Affiliates to issue, purchase, register for sale, redeem or otherwise acquire any Equity Interests comprised in the
Specified Collateral. 
 (c) No Debtor or any of their Affiliates has received an authenticated notification of a claim of an
interest in any of the Specified Collateral as contemplated under Sections 9-620 and 9-621 and other comparable provisions of the UCC at any time on or prior to their
acceptance, execution and delivery of this Agreement. 
 (d) As of ten (10) days before each Debtor’s acceptance of
this Agreement, (i) no secured party or lienholder (other than the Collateral Agent) held a security interest in, or other Lien, on any of the Specified Collateral, whether perfected by compliance with a statute, regulation, or treaty described
in Section 9-311(a) and other comparable provisions of the UCC, or otherwise and (ii) no secured party or lienholder (other than the Collateral Agent) held a security interest in, or other Lien on,
any of the Specified Collateral that was perfected by the filing of a financing statement that (x) identified any of the Specified Collateral, (y) was indexed under any Debtor’s name as of such date, and (z) was filed in the
office or offices in which to file a financing statement against any Debtor covering any of the Specified Collateral, in each case, as contemplated by Section 9-621(a)(2) and other comparable provisions
of the UCC. Accordingly, no Debtor is aware of any Person to whom notice of the Strict Foreclosure is or was required to be sent by the Collateral Agent or any other Secured Party, or any Debtor pursuant to
Section 9-621(a) and other comparable provisions of the UCC. 
 4.6
Liens. The Specified Collateral is subject to the provisions of the UCC and no Debtor is aware of any facts or circumstances that have resulted or may result (as of the moment in time immediately prior to the Effective Time) in the Collateral
Agent failing to hold, on behalf of itself and the Lenders, a valid and perfected first priority Lien and security interest on the Specified Collateral. 

4.7 Notice of Default; Acceleration; Other Liens. 

(a) The Existing Events of Default have occurred and are continuing, and have not been waived by any Agent or Lender, and any
forbearance in respect of any of the Existing Events of Default or any matters relating thereto (including any exercise of rights or remedies in connection therewith) provided by the Agent or a Lender will terminate automatically at the Effective
Time. 

  
 9 

 (b) Notice of the occurrence and continuance of the Existing Events of
Default has been properly and validly given to such Debtor by the Collateral Agent on behalf of the Secured Parties as required under the Loan Documents upon delivery of the Default and Acceleration Notice, and all other notices required to be
delivered and any and all other actions required to be taken in connection with the acceleration of the Obligations have been given or taken, as applicable, and, accordingly, the Obligations have been properly, validly and unconditionally
accelerated and declared to be forthwith due and payable in full in accordance with the Credit Agreement. Such Debtor shall not (and hereby irrevocably and unconditionally waives any right it may have to) contest or challenge the validity of the
Default and Acceleration Notice or any such other notice described above, or the matters set forth therein (including the acceleration of the Obligations provided for thereunder). Without limiting the foregoing, such Debtor agrees that, in addition
to any prior notices delivered by the Collateral Agent, this Agreement also constitutes any notice that may be given or required as a condition precedent to the Collateral Agent exercising any of its Enforcement Rights, and any and all grace or cure
periods are hereby irrevocably and unconditionally waived and relinquished by such Debtor. 
 (c) The outstanding Obligations
are due and payable in accordance with the terms of the Loan Documents, and are owed by such Debtor free of any offset, defense or counterclaim, and such Debtor will not (and hereby irrevocably and unconditionally waives any right it may have to)
assert any set off, defense or counterclaim to the outstanding Obligations or any portion thereof. 
 5. Representations, Warranties and
Covenants of the Collateral Agent: The Collateral Agent represents and warrants to the Debtors, each as to itself, as follows: 

5.1 Power and Authority. It has all requisite power and authority to enter into this Agreement and to carry out the
transactions contemplated by, and perform its obligations under, this Agreement. 
 5.2 Governmental Consents. The
execution and delivery by it of this Agreement and the performance by it of this Agreement does not and will not require any registration with, consent or approval of, or notice to, or other action to, with or by, any federal, state or other
governmental authority or regulatory body. 
 5.3 No Conflict. The execution and delivery by it of this Agreement and
the performance by it of this Agreement does not and will not (i) violate any provision of any law or any governmental rule or regulation applicable to it, or any order, judgment or decree of any court or other agency of government binding on
it, or (ii) violate any provision of any of its organizational documents. 

  
 10 

 5.4 Binding Obligation. This Agreement has been duly executed and
delivered by it and is the legally valid and binding obligation of it enforceable against it in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting
creditors’ rights generally or by equitable principles relating to enforceability. 
 Notwithstanding anything to the contrary in this
Agreement, the Transaction Support Agreement or any other document delivered on or prior to the date hereof, the Collateral Agent makes no representations about the validity of the strict foreclosure contemplated hereby or the transfers contemplated
hereby, or the enforceability of this Agreement, except to the extent that any such matters are within the Collateral Agent’s power or control. 

6. Miscellaneous. 

6.1 General. Except as otherwise expressly provided in this Agreement or documents or agreements contemplated by this
Agreement, all expenses of the preparation, execution and consummation of this Agreement and of the transactions contemplated hereby shall be borne by the party incurring such fees. 

6.2 Notice. All notices, demands and other communications hereunder shall be in writing or by written telecommunication,
and shall be deemed to have been duly given if delivered personally or by courier, if mailed by certified mail return receipt requested, postage prepaid, or if sent by written telecommunication or electronic delivery, confirmation of receipt
received, as follows: 
 If to the Collateral Agent, to: 

c/o Credit Suisse AG, Cayman Islands Branch 

Eleven Madison Avenue 
 New
York, New York 10010 
 Attn: [Sean Portrait] 

Email: [***] 
 With a copy sent
contemporaneously to: 
 Simpson Thacher & Bartlett LLP 

[____] 
 [____] 

Attention: [____] 
 Email:
[____] 

  
 11 

 and the Lenders under the Transaction Support Agreement, at: 

Stroock & Stroock & Lavan LLP 

180 Maiden Lane 
 New York, NY
10038 
 Attention: Kristopher M. Hansen, Marija Pecar and Isaac Sasson 

Email: [***] 
 If to the
Debtors, to: 
 Summit Midstream Partners Holdings, LLC 

910 Louisiana Street, Suite 4200 

Houston, Texas 77002 

Attention: Megan Davis 
 Email:
[***] 
 With a copy sent contemporaneously to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
New York 10022 
 Attention: Christopher J. Marcus, P.C. 

Email: [***] 

Kirkland & Ellis LLP 

300 North LaSalle 
 Chicago,
Illinois 60654 
 Attention Stephen L. Iacovo 

Email: [***] 

6.3 Entire Agreement. Subject to anything contained in the Loan Documents (as in effect on the date hereof), this
Agreement (and the related schedules, exhibits and agreements delivered in connection herewith) contains the entire understanding of the parties with respect to the subject matter hereof. This Agreement supersedes all prior agreements relating to
the subject matter hereof (except the Loan Documents). 
 6.4 Amendments. No modification, amendment or supplement to,
or waiver, forbearance or consent under or with respect to, this Agreement shall be effective without the prior written consent of the Debtors, the Collateral Agent and the Required Directing Lenders (as defined in the Transaction Support
Agreement). 
 6.5 Governing Law. The validity and construction of this Agreement shall be governed by the internal
laws of the State of New York without regard to principles of conflicts of laws. 

  
 12 

 6.6 Sections, Section Headings and Defined Terms. All enumerated
subdivisions of this Agreement are herein referred to as “sections” or “subsections.” The headings of the sections and subsections are for reference only and shall not limit or control the meaning thereof. Capitalized terms
contained in the exhibit to this Agreement, which are not otherwise defined in such exhibit, shall have the meaning ascribed to them in this Agreement. 

6.7 Successors. This Agreement shall be binding upon, and inure to the benefit of, each of the parties hereto, and their
respective heirs, successors and assigns. 
 6.8 Further Assurances. Without limiting anything in Section 2, from
time to time, at the written request of another party hereto or of any Applicable Transferee, each party hereto shall (at the expense of the requesting party) execute and/or deliver (as applicable) such instruments, documents and agreements, and
take such actions, as, in each case, such requesting party may deem reasonably necessary or desirable in order to effectuate, evidence, reflect or record any of the Strict Foreclosure Transactions, and/or assure that the transfers, purposes and
objectives of this Agreement and the Strict Foreclosure Transactions are validly and fully accomplished. 
 6.9 Applicable
Transferee Agreements and Rights; No Other Implied Rights or Remedies. Each Applicable Transferee or other Person that, pursuant to the Strict Foreclosure, accepts any Specified Collateral or otherwise acquires any right, title or interest in or
to, any Specified Collateral, shall, by such acceptance or acquisition thereof, as applicable, be automatically and immediately deemed to have consented and agreed to the Strict Foreclosure (including the terms and manner of consummation thereof,
and actions and agreements of the Persons involved therein in connection with implementation thereof). Each Debtor agrees that each provision of this Agreement that grants or purports to grant any right or remedy to any Applicable Transferee, or
that otherwise requires any Debtor to take any action requested or required by, or comply with any instruction delivered by or on behalf of, any Applicable Transferee (including Section 2.1 and Section 6.8 of this Agreement) is intended
for the benefit of, and shall be directly enforceable against such Debtor by, such Applicable Transferee, notwithstanding that such Applicable Transferee shall not be a signatory hereto or direct party hereunder. Except as provided in the preceding
sentence, nothing herein is intended or shall be construed to confer upon or to give any person, firm, or corporation, other than the Collateral Agent and the Debtors, any rights or remedies under or by reason of this Agreement. 

6.10 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same agreement. Delivery of an executed counterpart of this Agreement by facsimile, email or other electronic means shall be equally as effective as delivery of an original executed
counterpart of this Agreement. 

  
 13 

 6.11 Jurisdiction. The parties irrevocably and unconditionally submit
to and accept the exclusive jurisdiction of the United States District Court for the Southern District of New York located in the Borough of Manhattan or the courts of the State of New York located in the County of New York for any action, suit or
proceeding arising out of or based upon this Agreement or any matter relating to it and waive any objection that they may have to the laying of venue in any such court or that such court is an inconvenient forum or does not have personal
jurisdiction over them. 
 6.12 Avoidance. Notwithstanding any other provision of this Agreement, and including in the
event any Debtor becomes a debtor in a case under Title 11 of the United States Code (the “Bankruptcy Code”) subject to the Debtors’ rights under the Bankruptcy Code, in the event that any of the transactions contemplated
hereby (including the transfer of the Specified Collateral, or any part thereof) is subsequently rescinded, invalidated, voided, declared to be a fraudulent or preferential transfer or set aside, and/or any property transferred hereby is required to
be returned to a trustee, receiver or any other party, whether under any bankruptcy law, state or federal law, common law or equitable cause, or otherwise, then, the liabilities and obligations of the Debtors, the Credit Agreement, the Collateral
Agreement and the other Loan Documents, to the extent they remain unsatisfied under the terms of the Credit Agreement, the Collateral Agreement and the other Loan Documents, shall be revived and reinstated, and shall continue in full force and
effect until the Collateral Agent has received payment in full on such obligations, and the Debtors hereby agree to perform any and all acts and execute and deliver any and all further instruments that are necessary or required to ensure that the
Collateral Agent, for the benefit of the Secured Parties, has a first priority security interest in the Collateral to secure such obligations. The provisions of this Section 6.11 shall survive the Closing. 

[Remainder of page intentionally left blank; signature pages follow] 

  
 14 

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

			
	SUMMIT MIDSTREAM PARTNERS HOLDINGS, LLC, as Borrower and Grantor under the Loan Documents, and as a Debtor hereunder
		
	By:	 	 
		 	Name:
                                         
                         
		 	Title:
                                         
                           
	
	SUMMIT MIDSTREAM PARTNERS, LLC, as Pledgor and Guarantor under the Loan Documents, and as a Debtor hereunder
		
	By:	 	 
		 	Name:
                                         
                         
		 	Title:
                                         
                           
	
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Collateral Agent, on behalf of itself and the Secured Parties pursuant to the Credit Agreement and the other Loan Documents
		
	By:	 	 
		 	Name:                                     
                             
		 	Title:
                                         
                           

  
 S-1 

 EXHIBIT A 

GENERAL ASSIGNMENT AND BILL OF SALE 

Reference is made to (i) that certain Strict Foreclosure Agreement, dated as of [__], 2020 (as amended, supplemented or otherwise
modified from time to time in accordance with the terms hereof, the “Strict Foreclosure Agreement”), by and among Summit Midstream Partners Holdings, LLC (“Borrower”) and a Summit Midstream Partners, LLC, as
“Debtors”, and Credit Suisse AG, Cayman Islands Branch, as “Collateral Agent” (in such capacity, the “Collateral Agent”) and (ii) that certain Term Loan Agreement, dated as of March 21, 2017 (as
amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”), by and among the Borrower, the lenders from time to party thereto, and the Collateral Agent. Capitalized
terms used but not otherwise defined herein shall have the respective meanings assigned thereto in the Strict Foreclosure Agreement, and, if not defined therein, in the Credit Agreement. 

This General Assignment and Bill of Sale is being delivered pursuant to the Strict Foreclosure Agreement. 

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Debtors hereby assign, transfer and
convey (and shall be automatically deemed to have assigned, transferred and conveyed at the Effective Time) to [[the Collateral Agent] / [______]]1 (the
“Transferee”) all of Debtors’ right, title and interest in and to [____] common units (the “Applicable Units”) representing limited partner interests in Summit Midstream Partners, LP (“SMLP Common
Equity”). 
  

	1 	 To be modified as applicable. 

 Pursuant to, and in accordance with, the Loan Documents, and Article 9 of the Uniform
Commercial Code of the State of New York (together with the equivalent provisions of each other relevant jurisdiction, collectively, the “UCC”), the Borrower has pledged, and granted a Lien in favor of the Collateral Agent (for the
benefit of the Lenders) on, 34,604,581 units of SMLP Common Equity (the “Specified Collateral”), and the portion of Specified Collateral representing the Applicable Units is hereby sold, assigned, transferred and conveyed to the
Transferee by virtue of the provisions of Section 9-620 of the UCC. Upon all Specified Collateral being conveyed to the Persons entitled thereto under the Loan Documents in accordance with the Strict
Foreclosure Agreement and upon satisfaction of all other conditions to the Strict Foreclosure set forth in the Strict Foreclosure Agreement and the occurrence of the Effective Time, all Obligations (except any Surviving Obligations) owing to the
Transferee shall be satisfied in full pursuant to the UCC and other applicable law. 
 The transfer of the Specified Collateral effectuated
under this General Assignment and Bill of Sale is made in accordance with, and pursuant to, (i) the UCC and other applicable law, and (ii) the Strict Foreclosure Agreement, the Credit Agreement and the other applicable Loan Documents
(including the Collateral Agreement). 
 [Remainder of page intentionally left blank; signature page follows] 

 IN WITNESS WHEREOF, the undersigned have caused this General Assignment and Bill of Sale to
be duly executed as of the ____ day of ________, 2020. 
  

			
		
	By:	 	 
		 	Name:
		 	Title:

 Exhibit 3 

Form of Mutual Release Agreement 

 MUTUAL RELEASE 

This Mutual Release (this “Release”) is entered into as of _____, 2020 by and among: (a) Summit Midstream Partners
Holdings, LLC, a Delaware limited liability company (“SMPH”) and Summit Midstream Partners, LLC, a Delaware limited liability company (together with SMPH, the “Company”); (b) each of the Lenders (as defined in the
Credit Agreement referred to below) party hereto (collectively, the “Consenting Lenders” and, each individually, a “Consenting Lender”), and (c) Credit Suisse AG, Cayman Islands Branch, as administrative agent
and collateral agent for the Lenders (in such capacities, the “Term Loan Agent”). The Consenting Lenders, the Term Loan Agent, and the Company are each referred to as a “Party” and collectively referred to as the
“Parties.” Capitalized terms used herein and not otherwise defined shall have the meanings set forth in Section 1. 

RECITALS 

WHEREAS, on the date hereof, the Company, the Lenders (including the Consenting Lenders), and the Term Loan Agent are parties to that
certain term loan agreement, dated as of March 21, 2017 (as amended, supplemented or otherwise modified from time to time prior to the date hereof in accordance with the terms thereof, the “Credit Agreement”), pursuant to which
the Lenders thereunder made certain loans and other financial accommodations to the Company; 
 WHEREAS, as of the date hereof,
certain Events of Default have occurred and are continuing (the “Existing Events of Default”), and none of such Existing Events of Default have been cured or waived; 

WHEREAS, as a result of the Existing Events of Defaults, the Obligations have been accelerated in accordance with the Credit Agreement
and, as a result of the Company’s failure to pay the amounts due upon such acceleration, in accordance with the terms of the Loan Documents, the Required Lenders have directed the Term Loan Agent to consummate a strict foreclosure, and, in
connection therewith, the Company and certain Consenting Lenders have entered into that certain Transaction Support Agreement, dated as of September 29, 2020 (as modified from time to time, the “TSA”), and the Company and Term
Loan Agent have entered into that certain Strict Foreclosure Agreement, dated as of [___], 2020 (as modified from time to time, the “Strict Foreclosure Agreement”); and 

WHEREAS, in connection with the consummation of the strict foreclosure and other transactions contemplated by, relating to, or
otherwise consummated in connection with, the TSA and Strict Foreclosure Agreement (collectively, the “Transaction”), each of the Parties have agreed to execute and deliver this Release. 

  
 1 

 AGREEMENT 

NOW, THEREFORE, for the mutual promises, covenants and obligations set forth below, and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Definitions. For purposes of this
Agreement, (i) capitalized terms not defined herein that are defined in the Credit Agreement or the TSA shall have the meanings ascribed to them in the Credit Agreement or the TSA, as applicable; and (ii) the following terms shall have the
meanings ascribed to them in this Section 1: 
 (a) “Causes of Action” means any cause of action
(including any avoidance action, right or claim arising under, pursuant to or set forth in sections 362, 506(c), 510, 542 through 550, 553 or 558 of the Bankruptcy Code or any state law equivalent), claim, controversy, counterclaim, cross claim,
right of setoff, claim on contracts or for breaches of fiduciary duties imposed by law or in equity, demand, right, action lien, indemnity, suit, obligation, liability, damage, judgment, account, defense, power, privilege, license, franchise or
recoupment of any kind or character whatsoever, assertable directly, indirectly or derivatively (including under alter ego theories), choate or inchoate, fixed or contingent, direct or indirect, disputed or undisputed, foreseen or unforeseen, known
or unknown, liquidated or unliquidated, matured or unmatured, secured or unsecured, suspected or unsuspected, whether arising before, on, or after the Effective Time (as defined in Section 4(c) below), in contract or in
tort, under statute, in law or in equity, or pursuant to any other theory of law or equity. 
 (b) “Final Order” means an
order or judgment of a court of competent jurisdiction that has been entered on the docket maintained by the clerk of such court and has not been reversed, vacated, or stayed and as to which (i) the time to appeal, petition for certiorari, or
move for a new trial, reargument, or rehearing has expired and as to which no appeal, petition for certiorari, or other proceedings for a new trial, reargument, or rehearing shall then be pending or, (ii) if an appeal, writ of certiorari, new
trial, reargument, or rehearing thereof has been sought, (1) such order or judgment shall have been affirmed by the highest court to which such order was appealed, certiorari shall have been denied, or a new trial, reargument, or rehearing
shall have been denied or resulted in no modification of such order and (2) the time to take any further appeal, petition for certiorari, or move for a new trial, reargument, or rehearing shall have expired. 

(c) “Person” means an individual, partnership, corporation, limited liability company, cooperative, trust, unincorporated
organization, association, joint venture, estate, trust, governmental unit, or other entity, whether acting in an individual, fiduciary or other capacity. 

(d) “Related Persons” means, as to any Person, such Person’s current and former direct and indirect subsidiaries,
affiliates, members, managing members, funds, managers, officers, directors, agents, financial advisors, principals, accountants, investment bankers, consultants, attorneys, professionals, partners, other “controlling persons” (within the
meaning of the United States federal securities laws) and other representatives (and each of their direct and indirect subsidiaries, affiliates, members, managing members, funds, managers, officers, directors, agents, financial advisors, principals,
accountants, investment bankers, consultants, attorneys, professionals, partners, other “controlling persons” (within the meaning of the United States federal securities laws) and other representatives), solely in each case acting in such
capacity in connection with the Transaction or the Credit Agreement, and any Person claiming by or through any of them. 
 (e)
“Released Party” or “Released Parties” means the following, individually and collectively, as applicable: (a) the Company, (b) the Consenting Lenders; (c) the Term Loan Agent, (d) the Related
Persons of each of the foregoing and (e) each of the predecessors and successors in interest and assigns of each of the foregoing. 

  
 2 

 (f) “Releasing Party” or “Releasing Parties” means the
following, individually and collectively, as applicable, in its capacity as such, for and on behalf of itself and its Related Persons: (a) the Company; (b) the Consenting Lenders; (c) the Term Loan Agent and (d) each of the
predecessors and successors in interest and assigns of each of the foregoing. 
 (g) “Restructuring Claims” has the meaning
given thereto in Section 2(a). 
 2. Releases. 

(a) Releases by the Releasing Parties. For good and valuable consideration provided by each of the Released Parties, the adequacy and
sufficiency of which is hereby confirmed, from and after the Effective Time, subject to clause (b) below, each of the Released Parties and their respective assets and properties shall be deemed unconditionally, irrevocably and forever released
and discharged by each and all of the Releasing Parties from any and all Causes of Action that any such Releasing Party would have been legally entitled to assert in its own right (whether individually or collectively) or by, through or on behalf of
the holder of any claim or ownership interest in a Releasing Party, or that any holder of any claim or ownership interest in such Releasing Party could have asserted by, through or on behalf of such Releasing Party, based on or relating to, or in
any manner arising from, in whole or in part: (i) the Transaction, and the Company’s recapitalization efforts, restructuring efforts, or other action or service (including service on the board of directors of the Company) associated or
related thereto; (ii) the Credit Agreement or the other Loan Documents; or (iii) any other act or omission, transaction, agreement, event, or other occurrence relating to the Company and taking place at or before the Effective Time, in
each case, relating to the Credit Agreement, the other Loan Documents, and/or any of the Obligations (the foregoing, collectively, the “Restructuring Claims”). Each Releasing Party agrees and covenants not to assert or prosecute, or
assist or otherwise aid any other Person in the assertion or prosecution of, any Restructuring Claims being released pursuant to this clause (a) against any of the Released Parties. 

(b) Limitation of Releases. Notwithstanding anything in clause (a) above, the Parties agree that the releases in clause
(a) above shall not apply to (and the term Restructuring Claims shall not include and shall not be construed to include) any of the following: (A) any of the rights of any Releasing Party to enforce this Release, any Definitive Documents
or the TSA, and any Causes of Action under, or arising pursuant to, this Release, any Definitive Documents or the TSA, or any breaches hereunder or thereunder (including, without limitation, any breach of any representations and warranties hereunder
or thereunder), (B) any Causes of Action against any Person who does not execute and deliver this Release (or a joinder hereto) or any such Person’s Related Persons, (C) any indemnification obligations owed by the Company or its Related
Persons in favor of any of the Lenders or the Term Loan Agent (or their respective Related Persons) arising out of, or related to, this Release, any of the Loan Documents, the Definitive Documents, the TSA, or the consummation of the Transaction,
(D) any rights of contribution between or among the Releasing Parties or exculpation by and among the Releasing Parties, (E) any Causes of Action by any Releasing Party against any Person other than the Released Parties, (F) any
Causes of Action relating to any matters or obligations arising, any agreements entered into or delivered, any actions taken by any Person, or any transactions consummated, at or after the Effective Time (after giving effect to the Strict
Foreclosure and entry into any Definitive Documents that are become effective concurrently with the Effective Time), and (G) any Causes of Action for gross negligence, willful misconduct, or actual fraud (in each case as determined by a Final
Order of a court of competent jurisdiction). 

  
 3 

 The Parties further acknowledge and agree that, notwithstanding anything to the contrary
herein, all releases, representations, warranties, covenants and other agreements made in this Release by any Consenting Lender that is a separately managed account or fund of an investment manager signatory hereto are being made only with respect
to the assets or interests (and any Causes of Action related thereto) managed by such investment manager on behalf of such Consenting Lender, and shall not apply to (or be deemed to be made in relation to) any assets or interests (and any Causes of
Action related thereto) that may be beneficially owned by such Consenting Lender that are not held through accounts or funds managed by such investment manager. 

(c) No Reliance And No Duty To Disclose. Each of the Parties hereto, on behalf of itself and its Related Parties, in any capacity,
agrees and acknowledges that (a) except as expressly provided in this Agreement, no other Party hereto or any other Released Party, in any capacity, has warranted or otherwise made any representations to it or any of its Related Parties
concerning any Restructuring Claim (including any representation concerning the existence, nonexistence, validity or invalidity of any Restructuring Claim) and no Releasing Party has relied on any Released Party in providing the releases and
covenants not to sue in this Article 2, (b) the validity and effectiveness of the foregoing releases and covenants not to sue in this Article 2 do not depend in any way on any such representations or warranties or the accuracy, completeness or
validity thereof, (c) no other Party hereto or any other Released Party, in any capacity, has any duty to disclose or provide any facts or documents (whether material or immaterial, known or unknown, suspected or unsuspected) to it or any other
Releasing Party, including any facts or documents which, if known by any Releasor, might have caused such Releasor or any Party hereto to which such Releasing Party is affiliated not to execute and deliver this Release and/or any of the other
Definitive Documents, and (d) subject to Section 2(b), each such release and covenant not to sue shall remain in full force and effect even if any facts or documents (whether material or immaterial, known or unknown,
suspected or unsuspected, foreseen or unforeseen) were not disclosed or provided (whether intentionally, unintentionally, or otherwise) by any Released Party to any Releasing Party, which facts or documents, if known by such Releasing Party, might
have caused such Releasing Party or any Party hereto to which such Releasing Party is affiliated not to execute and deliver this Release and/or any of the other Definitive Documents. Nothing contained herein is intended to impair or otherwise
derogate from any of the representations, warranties, or covenants expressly set forth in this Agreement or in the other Definitive Documents. 

(d) Waiver of Statutory Limitations on Release. Except as otherwise set forth herein or as prohibited by law or statute, it is the
intention of each Party to extinguish all released Causes of Action and consistent with such intention, each Party hereby expressly waives his, her, or its rights to the fullest extent permitted by law, to any benefits of the provisions of
Section 1542 of the California Civil Code or any other similar state law, federal law, or principle of common law, which may have the effect of limiting the releases set forth herein, which reads in full as follow: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE
TIME OF EXECUTING THE RELEASE WHICH, IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 (e) Each
Party acknowledges that he, she, or it may discover facts in addition to or different from those now known or believed to be true with respect to the subject matter of the releases granted herein, but acknowledges that it is his, her, or its
intention to fully, finally, and forever settle, release and discharge any and all Restructuring Claims hereby known or unknown, suspected or unsuspected, which do or do not exist, or heretofore existed, and without regard to the subsequent
discovery or existence of such additional or different facts. 

  
 4 

 (f) Notwithstanding anything to the contrary herein, nothing in this Release shall prohibit
or impede any Party hereto from communicating, cooperating or filing a complaint with any U.S. federal, state or local law enforcement branch, agency or entity (collectively a “Governmental Entity”) with respect to any possible
violations of any U.S. federal, state or local law or regulation, or otherwise making disclosures relating thereto to any such Governmental Entity, in each case, that are protected under the whistleblower provisions of any provision of such law or
regulation, provided that in each case (i) such communications and disclosures are consistent with applicable law and made in good faith and (ii) the information subject to such disclosure was not obtained by a Party through a
communication that was subject to attorney-client privilege, unless disclosure of that information would otherwise be permitted by an attorney pursuant to 17 C.F.R. 205.3(d), applicable state attorney conduct rules, or otherwise. 

(g) Notwithstanding anything to the contrary set forth herein, each of the Parties hereby expressly reserves all of its defenses to any Cause
of Actions that may be asserted against any of them by any other Party, including, but not limited to, any defense that this Release releases any asserted Restructuring Claim. 

3. Released Party Representations, Warranties and Covenants. 

Each Released Party party hereto represents and warrants, after due inquiry and reasonable investigation, that, as of the Effective Time,
neither it, nor any of its directors or officers is aware of any current or potential indemnification claims or other Causes of Action against it or any of them, or any facts or circumstances that would give rise to any potential indemnification
claim or other Cause of Action. 
 4. Miscellaneous. 

(a) Successors and Assigns. All covenants, rights, obligations and other agreements contained in this Release by, through or on behalf
of any of the Parties bind and inure to the benefit of such Party and its respective successors and permitted assigns, whether so expressed or not. This Release, and the rights and obligations of each Party, shall not be assigned by such Party
without prior written consent of the other Parties. 
 (b) Entire Agreement. This Release contains the entire understanding of the
Parties with respect to the releases set forth herein. 
 (c) Effectiveness; Amendments. This Release (including the releases provided
for herein, and the Parties’ respective rights and obligations hereunder) shall become automatically effective (and may be enforced by and against each Party hereto) as of the later of the time that (i) each Party hereto has executed and
delivered this Release and (ii) the Closing Date (as defined in the Strict Foreclosure Agreement) has occurred (the “Effective Time”). For the avoidance of doubt, prior to the Effective Time, (x) none of the provisions of
this Release shall be valid, binding or enforceable and (y) no Person shall be permitted to rely on, or shall have any rights or remedies with respect to, this Release. No modification, amendment or supplement to, or waiver, forbearance or
consent under or with respect to, this Release (including any provision hereof, or any rights or obligations hereunder or arising in connection herewith) shall be effective without the prior written consent of each Party hereto. 

  
 5 

 (d) Severability. Any provision of this Release that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to
the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 
 (e)
Counterparts. This Release may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by
less than all, but together signed by all the Parties. This Release may be executed and delivered by facsimile, email, or otherwise and such signature is deemed binding for all purposes hereof, without delivery of an original signature being
thereafter required. 
 (f) Headings. The headings of the sections and subsections of this Release are inserted for convenience only
and shall not affect the interpretation hereof. 
 (g) Governing Law. This Release shall be construed and enforced in accordance with,
and the rights of the Parties shall be governed by, the laws of the State of New York excluding choice-of-law principles of the laws of the State of New York that would
permit the application of the laws of a jurisdiction other than the State of New York. 
 (h) Jurisdiction and Process; Waiver of Jury
Trial. 
  

	 	i.	 Each Party irrevocably and unconditionally agrees that it will not commence any action, litigation, or
proceedings of any kind or description, whether in law or equity, whether in contract or in tort or otherwise, against any other Party that in any way relates to this Release in any forum other than the courts of the State of New York sitting in New
York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, and the Parties irrevocably and unconditionally submit to the jurisdiction of such courts and agree that all claims
in respect of any such action, litigation or proceeding relating to this Release may be heard and determined in such New York State Court or, to the fullest extent permitted by applicable law, in such federal court. To the fullest extent permitted
by applicable law, in connection with any such action, litigation or proceeding relating to this Release, the Parties irrevocably waive and agree not to assert, by way of motion, as a defense or otherwise, any claim that they are not subject to the
jurisdiction of any such court, any objection that they may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such
court has been brought in an inconvenient forum. 

  
 6 

	 	ii.	 The Parties hereby waive trial by jury in any action brought on or with respect to this Release, or any other
documents executed in connection herewith. 

 (i) Specific Performance. Each Party recognizes and acknowledges that
a breach by such Party of any of its covenants or agreements contained in this Release may cause the other Parties to sustain damages for which such other Parties may not have an adequate remedy at law for money damages, and, therefore, such Party
agrees that, in the event of any such breach by it, the other Parties may be able to seek the remedy of specific performance of one or more such breached covenants and agreements and injunctive and certain other equitable relief in addition to any
other remedy to which such other Parties may be entitled, at law or in equity. 
 (j) Remedies Cumulative. All rights, powers and
remedies provided under this Release or otherwise available in respect hereof at law or in equity shall be cumulative and not alternative, and the exercise of any right, power or remedy thereof by any Party shall not preclude the simultaneous or
later exercise of any other such right, power or remedy by such Party. 
 (k) No Waiver. The failure of any Party to exercise any
right, power, or remedy provided under this Release or otherwise available in respect hereof at law or in equity, or to insist upon compliance by any other Party with its obligations hereunder, and any custom or practice of the Parties at variance
with the terms hereof, shall not constitute a waiver by such Party of its right to exercise any such or other right, power, or remedy or to demand such compliance. 

(l) Several, Not Joint, Obligations. The agreements and obligations of each of the Parties under this Release are, in all respects,
several and not joint. 
 (m) Parties’ Use of Legal Counsel And Construction Of Release. Each Party hereby acknowledges that it
has had the opportunity to be advised by its own legal counsel in connection with the negotiation, drafting, execution, and delivery and consummation of this Release. The Parties agree and acknowledge that the normal rule of construction to the
effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Release or any amendments, exhibits or schedules hereto. Each Party has entered into this Release freely and voluntarily,
without coercion, duress, distress or under influence by any other Persons or its respective shareholders, directors, officers, partners, agents or employees. Each of the Parties hereby acknowledges that (i) it has read this Release and knows
its contents, (ii) it understands the terms and consequences of this Release, and (iii) the terms of this Release are fair and reasonable. 

(n) Compromise; No Admission of Wrongdoing. This Release is entered into in compromise of disputed claims and defenses constituting the
Restructuring Claims. No act or agreement in furtherance of the Release shall be construed in any way as an admission of fault, wrongdoing, or liability on the part of any Party and, for the avoidance of doubt, notwithstanding anything to the
contrary, each Party hereby denies (and shall be deemed to deny) any fault, wrongdoing, or liability for any and all claims and Causes of Action, and no settlement of any Causes of Action against any such Party shall be permitted without such
Party’s prior written consent. Neither this Release, nor any of its terms, shall be offered by any of the Parties in evidence in any arbitral, civil, criminal, administrative, or other proceeding as a concession or admission of fault,
wrongdoing or liability; provided, that nothing in this section shall prevent any Party from using or offering this Release in evidence in any proceeding to enforce and/or effectuate the terms of this Release. 

  
 7 

 (o) No Third Party Rights. The provisions of this Release are for the benefit of the
Parties, and unless otherwise provided herein, no other Person shall have any right or claim against any Party by reason of this Release or any provision hereof or be entitled to enforce any provision of this Release. Notwithstanding the foregoing,
for the avoidance of doubt, the Released Parties may enforce the provisions of this Release, as set forth herein. 
 [Remainder of Page
Intentionally Left Blank] 

  
 8 

 IN WITNESS WHEREOF, this Release is entered into as of the date first written above. 

 

			
	Summit Midstream Partners Holdings, LLC
		
	By:	 	  

	Name:	 	J. Heath Deneke
	Title:	 	President and Chief Executive Officer
	
	Summit Midstream Partners, LLC
		
	By:	 	  

	Name:	 	J. Heath Deneke
	Title:	 	President and Chief Executive Officer

 [Summit Midstream – Mutual Release Agreement] 

			
	CONSENTING LENDER:
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Summit Midstream – Mutual Release Agreement] 

			
	Credit Suisse AG, Cayman Islands Branch:
		
	By:	 	  

		
	Name:	 	
		
	Title:	 	

 Exhibit B 

Form of Transfer Agreement 

 Transfer Agreement to Transaction Support Agreement 

Reference is made to the Transaction Support Agreement (as amended, supplemented, or otherwise modified from time to time in accordance with
the terms thereof, the “Agreement”) dated as of September 29, 2020, by and among Summit Midstream Partners Holdings, LLC (“SMPH”), Summit Midstream Partners, LLC (with SMPH, the “Company”),
Summit Midstream Limited Partnership and certain beneficial holders (or investment managers, advisors or subadvisors for any of the beneficial holders) of Term Loan Claims (together with their successors and permitted assigns under the Agreement,
each, a “Directing Lender” and, collectively, the “Directing Lenders”), and the other parties thereto.1 

The undersigned (the “Transferee”) is a Directing Lender under the Agreement and has acquired the further Term Loan Claims
set forth below, which are in addition to any Term Loan Claims set forth on its signature page to the Agreement or on any Joinder Agreement or Transfer Agreement executed before the day hereof. 

This agreement shall be governed by the governing law set forth in the Agreement. 

Date: ________________, 2020 
  

									
	[TRANSFEREE]	  	
			
	By:	  	  
	  	
	Name:	  		  	
	Title:	  		  	
			
		  	Principal Amount of Term Loan Claims:	  	 $
  

  

	1 	 Defined terms used but not otherwise defined herein shall have the meanings ascribed to them in the Agreement.

 Exhibit C 

Form of Joinder Agreement 

 Joinder Agreement to Transaction Support Agreement 

The undersigned hereby acknowledges that it has reviewed and understands the Transaction Support Agreement (as amended, supplemented, or
otherwise modified from time to time in accordance with the terms thereof, the “Agreement”) dated as of September 29, 2020, by and among Summit Midstream Partners Holdings, LLC (“SMPH”) Summit Midstream
Partners, LLC (with SMPH, the “Company”), Summit Midstream Limited Partnership and certain beneficial holders (or investment managers, advisors or subadvisors for any of the beneficial holders) of Term Loan Claims (together with
their successors and permitted assigns under the Agreement, each, a “Directing Lender” and, collectively, the “Directing Lenders”), and the other parties thereto, agrees to be bound as a Directing
Lender by the terms and conditions thereof binding on the Directing Lender with respect to all Term Loan Claims held by the undersigned.3 

The undersigned hereby makes the representations and warranties of the Directing Lender set forth in Section 8(a)
and Section 8(b) of the Agreement to each other Party, effective as of the date hereof. 
 This joinder agreement
shall be governed by the governing law set forth in the Agreement. 
 Date: ________________, 2020 

 

									
	[TRANSFEREE]	  	
			
	By:	  	  
	  	
	Name:	  		  	
	Title:	  		  	
			
		  	Principal Amount of Term Loan Claims:	  	 $
  

  

	3 	 Defined terms used but not otherwise defined herein shall have the meanings ascribed to them in the Agreement.

 Exhibit D 

Questionnaire 

 SUMMIT MIDSTREAM PARTNERS, LP 

SELLING UNITHOLDER QUESTIONNAIRE 

Pursuant to the terms and conditions of that certain Transaction Support Agreement (the “TSA”), by and among Summit Midstream
Partners Holdings, LLC (the “Company”), Summit Midstream Partners, LLC, Summit Midstream Partners, LP (the “Partnership”) and the Directing Lenders, the Partnership may file with the United States Securities and
Exchange Commission (the “Commission”) a registration statement on Form S-1 (the “Registration Statement”) for resale under the Securities Act of 1933, as amended (the
“Securities Act”), of common units representing limited partner interests of the Partnership (the “Common Units”) which will be distributed to Term Loan Lenders as a result of the Strict Foreclosure described in the
TSA. Capitalized terms used but not defined herein shall have the meanings provided to them in the TSA. 
 In order to sell or otherwise
dispose of any Registrable Securities pursuant to such Registration Statement, a holder of Registrable Securities must be named as a selling unitholder in the related prospectus (the “Prospectus”) and become a Directing Lender or
Transaction Consenting Lender prior to the expiration of the Solicitation Period. In order to be named in the Prospectus, you must complete, execute and deliver this Selling Unitholder Questionnaire (the “Questionnaire”) to the
Partnership no later than [October 21], 2020, which deadline may be extended in accordance with the TSA. Holders of Registrable Securities who do not become a Directing Lender or a Transaction Consenting Lender prior to the expiration of the
Solicitation Period or who do not complete, execute and return this Questionnaire prior to the deadline (i) will not be named as selling unitholders in the Registration Statement, (ii) will not have their Registrable Securities registered
for resale in the Registration Statement, and (iii) cannot use the Prospectus for resales of Registrable Securities. 
 The underlined
terms in this Questionnaire are defined in Appendix A. These definitions are extremely important in assisting you to complete the Questionnaire properly. 

Certain legal consequences arise from being named as a selling unitholder in the Registration Statement and Prospectus. Accordingly, holders
and beneficial owners of securities to be registered under the Registration Statement are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling unitholder in the Registration
Statement and Prospectus. 

  
 1 

 The Selling Unitholder hereby provides the following information to the Partnership and
represents and warrants that such information is accurate and complete: 
  

	(1)	 Full Legal Name of Selling Unitholder (i.e., the entity to be listed as a seller in the Registration
Statement and in whose name or on whose behalf Registrable Securities shall be issued at Closing as a result of the Strict Foreclosure):
                                        
                                 

 

                       
                                         
                                         
                                         
                                         
                                  

Full Legal Name of Registered Holder (if not the same as
above):                                        
                                         
                             
  

                       
                                         
                                         
                                         
                                         
                                  

 

	(2)	 Address for Notices to Selling Unitholder: 

 

					
		 	  
	 	
		 	  
	 	
	Telephone:	 	  
	 	
	Fax:	 	  
	 	
	Contact Person:	 	  
	 	

  

	(3)	 Ownership of the Partnership’s Securities. This question covers current beneficial ownership
of the Partnership’s equity securities. Please consult Appendix A to this Questionnaire for information as to the meaning of “beneficial ownership” and “equity securities.” 

Please list the number of units of each equity security of the Partnership beneficially owned, directly or indirectly, as of the
date hereof, by the Selling Unitholder (including any equity securities the Selling Unitholder has a right to acquire pursuant to the exercise of warrants or other convertible securities or otherwise). For the avoidance of doubt, Registrable
Securities to be received at Closing need not be listed here. 
  

			
	 Type of Equity Security
	  	 Number of units Beneficially Owned

		  	

  

	(4)	 Were any units of any equity security included in answer to Item 3 above because the beneficial
owner had the right to acquire beneficial ownership, including the right to acquire (a) through the exercise of any option, warrant or right, (b) through the conversion of a security, (c) pursuant to the power to revoke a
trust, discretionary account, or similar arrangement or (d) pursuant to the automatic termination of a trust, discretionary account or similar arrangement? For the avoidance of doubt, this question does not apply to Registrable Securities to be
received at Closing. 

 Yes _______    No _______ 

  
 2 

 If so, please set forth the affected number of units of such equity security, the
type of equity security and the details concerning the right to acquire beneficial ownership, including dates when the right comes into existence. 
  

					
	 Type of Equity Security
	  	 Number of Units
	  	 Details

		  		  	

  

	(5)	 Please state the full amount of the outstanding principal balance of the Term Loan Claims held by the Selling
Unitholder as of the date this Questionnaire is completed: 

                       
                                         
                 
  

	(6)	 Relationships with the Partnership: 

Except as set forth below, neither the Selling Unitholder nor any of its affiliates, officers, directors or principal equity holders (5% or
more) has held any position or office or has had any other material relationship with the Partnership (or its predecessors or affiliates) during the past three years. 

State any exceptions here: 

                       
                                         
                                         
                                         
                                         
                                  

                       
                                         
                                         
                                         
                                         
                                  

                       
                                         
                                         
                                         
                                         
                                  

An “affiliate” of any specified person means any other person that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, such person. For purposes of this definition, “control” when used with respect to any specified person means the power to direct or cause the direction of the management and
policies of such person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. 
  

	(7)	 Nature of the Selling Unitholder: 

 

	(a)	 Is the Selling Unitholder a natural person? (If so, please mark “Yes” and skip to Item 8.)

 Yes ____                No ____ 

 

	(b)	 Is the Selling Unitholder (i) a reporting company under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), (ii) a majority owned subsidiary of a reporting company under the Exchange Act or (iii) a registered investment company under the Investment Company Act of 1940? If so, please mark the box and state which
one. 

 Yes ____                No ____

 If the entity is a majority owned subsidiary of a reporting company, identify the majority stockholder that is a reporting company:
__________________________ 

  
 3 

 If the entity is not any of the above, identify any natural person or persons having voting
and investment control over the Partnership’s securities that the entity owns:
                                         
                                         
                                         
                                         
                           

                       
                                         
                                         
                                         
                                         
                                      

 

	(8)	 Broker-Dealer Status: 

 

	(a)	 Is the Selling Unitholder a broker-dealer? 

Yes ____                No ____ 

 

	(b)	 If the Selling Unitholder is a broker-dealer, did the Selling Unitholder receive the Registrable Securities or
the Term Loan Claims pursuant to which such securities shall be distributed as compensation for investment banking services, including underwriting activities, to the Partnership? 

Yes ____                No ____ 

 

	(c)	 Is the Selling Unitholder an affiliate of a broker-dealer? 

Yes ____                No ____ 

Note: If “yes” to Item 8(c), you must answer Item 8(d). 

 

	(d)	 If the Selling Unitholder is an affiliate of a registered broker-dealer, does such Selling Unitholder certify
that it (i) will acquire the Registrable Securities in the ordinary course of business and (ii) at the time of the acquisition of such Registrable Securities, such Selling Unitholder will have had no agreements or understandings, directly
or indirectly, with any person to distribute the Registrable Securities? 

 Yes
____                No ____ 
  

	(9)	 Legal Proceedings with the Partnership: 

Is the Selling Unitholder a party to any pending legal proceeding in which the Partnership is named as an adverse party? If yes, please
describe. 
 Yes ____                No ____ 

                       
                                         
                                         
                                         
                                         
                                  

                       
                                         
                                         
                                         
                                         
                                  

                       
                                         
                                         
                                         
                                         
                                  

By signing below, the Selling Unitholder acknowledges that it understands its obligation to comply, and agrees that it will comply, with the
prospectus delivery and other provisions of the Securities Act and the Exchange Act and the rules and regulations thereunder, particularly Regulation M. 

By signing below, the Selling Unitholder consents to the disclosure of the information contained herein in its answers to Items
(1) through (9) above and the inclusion of such information in the Registration Statement and Prospectus. The Selling Unitholder understands that such information will be relied upon by the Partnership in connection with the preparation of the
Registration Statement and Prospectus. 
  

  
 4 

 By signing the below, the Selling Unitholder acknowledges and agrees that it will furnish to
the Partnership such information and affidavits as the Partnership reasonably requests pursuant to the disclosure requirements of the SEC for use in connection with the Registration Statement or Prospectus and, to the fullest extent permitted by
law, the Selling Unitholder will indemnify the Partnership and its directors and officers and each Person who controls the Partnership (within the meaning of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended)
against any and all losses, claims, damages, liabilities and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) resulting from any untrue statement or alleged untrue statement of a material fact contained in
the Registration Statement or related Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only
to the extent that such untrue statement or alleged untrue statement or omission or alleged omission is consistent with and made in reliance upon any information or affidavit so furnished by such Selling Unitholder in writing (in this Questionnaire
or otherwise) specifically for inclusion in the Registration Statement; provided that the obligation to indemnify will be several, not joint and several, among the several Selling Unitholders, and the liability of each Selling Unitholder will be in
proportion to the amount of Registrable Securities sold by such Selling Unitholder, and, provided, further, that such liability will be limited to the net amount received by such Selling Unitholder from the applicable sale of Registrable Securities.
In addition to the foregoing, the remaining provisions of Section 27(g) of the TSA (including without limitation the indemnification obligations of the Partnership set forth therein) apply with full force and effect as though restated herein.

 All notices hereunder shall be made in writing, by hand-delivery, electronic mail transmission, first-class mail or air courier
guaranteeing overnight delivery as follows: 
 To the Partnership:        Summit Midstream Partners,
LP 
 910 Louisiana St., Suite 4200 

Houston, Texas 77002 

Attention: Megan Davis 
 Email:
[***] 
 Once this Questionnaire is executed by the undersigned and received by the Partnership at the address indicated on the signature
page, the terms of this Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal representatives and assigns of
the Partnership and the undersigned with respect to the Registrable Securities beneficially owned by the undersigned and distributed in respect of the Term Loan Claims listed in Item (5) above. This Questionnaire shall be governed in all
respects by the laws of the State of New York. 
 If at any time prior to the effective date of the Registration Statement any of the
information set forth by the undersigned in this Questionnaire has changed due to passage of time, or any development occurs which requires a change in the undersigned’s answers, or has for any other reason become incorrect, the undersigned
acknowledges and agrees to promptly furnish any necessary or appropriate correcting information to the Partnership, including any changes with respect to the outstanding principal balance of the Term Loan Claims currently held by the undersigned.
Otherwise, the Partnership and its counsel are to understand that the information provided in this Questionnaire continues to be, to the best of the undersigned’s knowledge, information, and belief, complete and correct. 

  
 5 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Questionnaire
to be executed and delivered either in person or by its duly authorized agent. 
 Dated: _______________, 2020 

 

			
		 	  

		 	Selling Unitholder
		 	(Print/type full legal name of beneficial owner of Registrable Securities)

  

					
		 	By:	 	  

					
		 	Name:	 	
		 	Title:	 	

 PLEASE RETURN THE COMPLETED AND EXECUTED QUESTIONNAIRE TO THE PARTNERSHIP AT: 

 

			
		 	 Summit Midstream Partners, LP
 910 Louisiana
St., Suite 4200

		 	Houston, Texas 77002
		 	Attention: Megan Davis
		 	Email: [***]

  

  
 6 

 Appendix A 

DEFINITIONS OF “BENEFICIAL OWNERSHIP” 
  

	1.	 A “Beneficial Owner” of a security includes any person who, directly or indirectly, through any
contract, arrangement, understanding, relationship or otherwise has or shares: 

  

	 	(a)	 Voting power which includes the power to vote, or to direct the voting of, such security; and/or

  

	 	(b)	 Investment power which includes the power to dispose, or direct the disposition of, such security.

 Please note that either voting power or investment power, or both, is sufficient for you to be considered the
beneficial owner of shares. 
  

	2.	 Any person who, directly or indirectly, creates or uses a trust, proxy, power of attorney, pooling arrangement
or any other contract, arrangement or device with the purpose or effect of divesting such person of beneficial ownership of a security or preventing the vesting of such beneficial ownership as part of a plan or scheme to evade the reporting
requirements of the federal securities acts shall be deemed to be the beneficial owner of such security. 

  

	3.	 Notwithstanding the provisions of paragraph (1), a person is deemed to be the “beneficial owner” of a
security if that person has the right to acquire beneficial ownership of such security within 60 days, including but not limited to any right to acquire: (a) through the exercise of any option, warrant or right; (b) through the conversion
of a security; (c) pursuant to the power to revoke a trust, discretionary account or similar arrangement; or (d) pursuant to the automatic termination of a trust, discretionary account or similar arrangement; provided, however, any person
who acquires a security or power specified in (a), (b) or (c) above, with the purpose or effect of changing or influencing the control of the issuer, or in connection with or as a participant in any transaction having such purpose or effect,
immediately upon such acquisition shall be deemed to be the beneficial owner of the securities which may be acquired through the exercise or conversion of such security or power. 

DEFINITION OF “EQUITY SECURITY” 

An “equity security” is any Common Unit and any option, warrant or other right to acquire any Common Unit of the Partnership. 

 Exhibit E 

Form of Consent Agreement 

 THIS STRICT FORECLOSURE CONSENT AGREEMENT IS NOT AN OFFER WITH RESPECT TO ANY SECURITIES. ANY SUCH OFFER
OR SOLICITATION WILL COMPLY WITH ALL APPLICABLE SECURITIES LAWS. NOTHING CONTAINED IN THIS STRICT FORECLOSURE CONSENT AGREEMENT SHALL BE AN ADMISSION OF FACT OR LIABILITY OR, UNTIL THE OCCURRENCE OF THE CONSENT EFFECTIVE DATE ON THE TERMS DESCRIBED
HEREIN, DEEMED BINDING ON ANY OF THE PARTIES HERETO. 
 STRICT FORECLOSURE CONSENT AGREEMENT 

The undersigned beneficial holder (or nominee, investment manager, advisor, or subadvisor for the undersigned beneficial holder) (each a
“Transaction Consenting Lender”, and, together with each other Transaction Consenting Lender that executes a Strict Foreclosure Consent Agreement, collectively, the “Transaction Consenting Lenders”) hereby consents
to the Transaction (as defined below), and agrees to be bound as a Transaction Consenting Lender by the terms and conditions of this Strict Foreclosure Consent Agreement (this “Agreement”) with respect to all Term Loan Claims
held by the undersigned. 
 This Agreement shall become effective and binding on the undersigned Transaction Consenting Lender on the date
that this Agreement has been executed and delivered by the undersigned Transaction Consenting Lender (the “Consent Effective Date”). 

Recitals 

WHEREAS, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and Collateral Agent for the Lenders (the “Term Loan
Agent”), the Transaction Consenting Lender, Summit Midstream Partners Holdings, LLC (“SMPH”) and Summit Midstream Partners LLC (“SMP” and with SMPH, the “Company”) are parties to that
certain term loan agreement, dated as of March 21, 2017 (as amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof) by and between SMPH, the Lenders party thereto and the Term
Loan Agent (the “Credit Agreement” and together with all documents and agreements executed in connection therewith, collectively, the “Loan Documents”; defined terms used but not defined
herein shall have the meaning set forth in the Credit Agreement); 
 WHEREAS, the Company and each of the beneficial owners (or
nominees, investment managers, advisors or subadvisors for the beneficial owners) of the Term Loan Claims that is a signatory to the Transaction Support Agreement (collectively, the “Directing Lenders”) (constituting Required
Lenders) have in good faith and at arm’s-length negotiated a full debt discharge and restructuring transaction on the terms set forth in the Transaction Support Agreement (such debt discharge and
restructuring transaction, including the Strict Foreclosure and all other transactions consummated in connection with, or relating to, any of the foregoing, collectively, the “Transaction”); 

WHEREAS, the key terms of the Transaction are set forth in the Term Sheet attached hereto as Exhibit 1 (the “Term
Sheet”). 

 NOW, THEREFORE, in exchange for the Company’s entry into the Mutual Release
Agreement, and the payment to each of the Directing Lenders and Transaction Consenting Lenders of its Pro Rata Share of the Consent Premium on the Closing Date, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned Transaction Consenting Lender, intending to be legally bound hereby, agrees as follows: 
 Consent
Agreement 
 Section 1. Definitions 

As used in this Agreement, the following terms have the following meanings: 
  

	 	(a)	 “Additional Consideration” means $6.5 million in cash. 

 

	 	(b)	 “Ad Hoc Group” means the ad hoc group of certain beneficial owners (or nominees, investment
managers, advisors or subadvisors for certain beneficial owners) of the Term Loan Claims, as may be reconstituted from time to time, represented by Stroock. 

  

	 	(c)	 “Alternative Transaction” means any reorganization (including, for the avoidance of doubt, a
transaction premised on an asset sale or a chapter 11 plan other than one that implements the Transaction, or otherwise), proposal, offer, dissolution, winding up, liquidation, reorganization, merger, consolidation, business combination, joint
venture, partnership, sale of assets, recapitalization, or restructuring in any jurisdiction anywhere in the world for any entity of the Company other than the Transaction. 

 

	 	(d)	 “Closing Date” means the date upon which the Transaction is consummated.

  

	 	(e)	 “Consent Premium” means $20 million cash. 

 

	 	(f)	 “Definitive Documents” means all documents that are contemplated by the Transaction Support
Agreement and that are otherwise necessary to implement, or otherwise relate to the Transaction. 

  

	 	(g)	 “Pro Rata Share” means, other than in connection with the Consent Premium, with respect to
each Lender, an amount calculated on the basis of the aggregate principal amount of outstanding Loans held by such Lender (determined as of the Closing Date but immediately prior to giving effect to the consummation of the Strict Foreclosure) as a
percentage of the total amount of then-outstanding Loans held by all Lenders in the aggregate. 

  

	 	(h)	 “Questionnaire Deadline” means [October 21, 2020], which deadline may be extended in
accordance with the Transaction Support Agreement. 

  

	 	(i)	 “Registrable Securities” means the Specified Collateral held by the Directing Lenders and the
Transaction Consenting Lenders, but only to the extent that such Persons become Directing Lenders or Transaction Consenting Lenders in accordance with the Transaction Support Agreement and provide SMLP with an

  
 2 

	 	
executed Questionnaire on or prior to the Questionnaire Deadline. Registrable Securities shall cease to be Registrable Securities when (i) a registration statement with respect to the sale
of such securities shall have been declared effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (ii) such securities are sold pursuant to Rule 144 (or any similar
provisions then in force) under the Securities Act, (iii) such securities have been otherwise transferred and a new certificate or other evidence of ownership for them that does not bear a legend restricting further transfer has been delivered
to such transferee, or (iv) such securities shall have ceased to be outstanding. 

  

	 	(j)	 “Securities Act” means the Securities Act of 1933, as amended and including any rule or
regulation promulgated thereunder. 

  

	 	(k)	 “SMLP” means Summit Midstream Partners, LP. 

 

	 	(l)	 “Specified Collateral” means the 34,604,581 common units representing limited partner
interests in SMLP currently pledged to the Term Loan Agent, on behalf of the Term Loan Lenders, as collateral under the Credit Agreement; provided that the number of common units comprising the Specified Collateral shall be equitably adjusted
in the event of a unit split, reverse unit split, combination, reclassification, recapitalization, exchange, unit dividend, or other distribution payable in common units with respect to the Specified Collateral that occurs prior to the Closing Date.

  

	 	(m)	 “Strict Foreclosure” means the delivery to the Term Loan Lenders of the Specified Collateral
in accordance with Article 9 of the Uniform Commercial Code and the terms set forth in the Strict Foreclosure Agreement, which together with the Additional Consideration, shall be in full satisfaction of the Company’s obligations under the
Credit Agreement (exclusive of any obligations contained therein that survive termination of the Credit Agreement in accordance with the terms set forth in the Transaction Support Agreement and in the Definitive Documents). 

 

	 	(n)	 “Strict Foreclosure Agreement” means that certain Notification of Proposal of Strict
Foreclosure, attached hereto as Exhibit 4. 

  

	 	(o)	 “Stroock” means Stroock & Stroock & Lavan LLP as counsel to the Ad Hoc
Group. 

  

	 	(p)	 “Term Loan Lenders” means the lenders party to the Credit Agreement as of the Closing Date.

  

	 	(q)	 “Term Loan Claims” means all claims held by the Term Loan Lenders party to the Credit
Agreement derived from, based upon, or secured pursuant to the Loan Documents, including the approximately $155.2 million in principal amount outstanding, plus all interest, fees, expenses, costs, and other charges arising under or related to
the Obligations. 

  
 3 

	 	(r)	 “Transaction Support Agreement” means that certain Transaction Support Agreement (as amended,
supplemented, or otherwise modified from time to time in accordance with the terms hereof, and including the Term Sheet (as defined below) and any other exhibits, schedules, or annexes attached hereto or thereto, this “Agreement”),
dated as of September 29, 2020, is entered into by and among the Company, Summit Midstream Partners, LP, and the Directing Lenders. 

Section 2. Agreements of the Transaction Consenting Lender. 
  

	 	(a)	 Transaction Support. During the period from and including the Consent Effective Date through and
including the termination of the Transaction Support Agreement (the “Support Period”), subject to the terms and conditions hereof, the undersigned Transaction Consenting Lender agrees, with respect to all claims held, that it shall:

  

	 	(i)	 (A) not take any action, directly or indirectly, that would reasonably be expected to prevent, interfere with,
materially delay, or impede, the consummation of the Transaction; (B) not directly or indirectly propose, file, support, vote for, consent to, or take any other action in furtherance of the negotiation or formulation of any Alternative
Transaction; and (C) not take, nor direct any other person to take, any action that would, or would reasonably be expected to, breach this Agreement, or object to, or materially and intentionally delay, or take any other negative action,
directly or indirectly, to interfere with the implementation of the Transaction; and 

  

	 	(ii)	 not exercise, and shall not direct any other person to, exercise any right or remedy for the enforcement,
collection, or recovery of any of the Term Loan Claims against the Company, including in connection with any payment obligations of the Company under the Credit Agreement that come due during the Support Period, other than in accordance with this
Agreement and/or the Definitive Documents; provided, however, that nothing in this clause (ii) shall require the Transaction Consenting Lenders to waive any Default or Event of Default or any of the obligations arising under the
Loan Documents; provided, further, that no party to this Agreement shall request that the Term Loan Agent exercise rights or remedies under or with respect to the Credit Agreement or the other Loan Documents during the Support Period
to the extent inconsistent with this Agreement. 

  

	 	(b)	 Mutual Release Agreement. Subject to the terms and conditions hereof, the undersigned Transaction
Consenting Lender agrees, with respect to all claims held, that it shall enter into the Mutual Release Agreement, a form of which is attached as Exhibit 2 hereto (the “Mutual Release Agreement”), which Mutual Release
Agreement shall be effective as of the Closing Date. 

  
 4 

	 	(c)	 Securities Registration Information. Subject to the terms and conditions hereof, the undersigned
Transaction Consenting Lender agrees, with respect to all claims held, that it shall not be eligible to receive registered units of SMLP common stock unless it provides the information requested in Exhibit 3 (the
“Questionnaire”) attached hereto prior to the Questionnaire Deadline. In the event the undersigned Transaction Consenting Lender fails to provide the information requested in Exhibit 3, it acknowledges that it may be
unable to trade or transfer the units of SMLP common stock constituting its portion of the Specified Collateral or the Additional Consideration unless and until separate arrangements regarding the same (if any) are agreed with SMLP (at its sole
discretion). 

  

	 	(d)	 Rights of Transaction Consenting Lenders Unaffected. Except as expressly set forth herein, nothing
contained herein shall: 

  

	 	(i)	 constitute a waiver or amendment of any term or provision of (A) any of the Loan Documents, as applicable
or (B) any other agreement, instrument, or document that gives rise to a Transaction Consenting Lender’s Term Loan Claims; or 

  

	 	(ii)	 constitute a termination or release of any liens granted in connection with the Term Loan Claims.

  

	 	(e)	 Transfer of Claims or Withdrawal of Consent. The undersigned Transaction Consenting Lender agrees that
if it sells, assigns, or transfers its Term Loan Claims, withdraws its consent to the Transaction through a written notice provided to Kirkland & Ellis LLP and Kirkland & Ellis International LLP, as counsel to the Company and
Stroock, or otherwise does not comply with its obligations set forth in this Agreement, it shall not be a Transaction Consenting Lender and shall not be entitled to its Pro Rata Share of the Consent Premium. 

Section 3. Representations and Warranties.  
  

	 	(a)	 The undersigned Transaction Consenting Lender represents and warrants that the following statements are true,
correct, and complete as of the date hereof: 

  

	 	(i)	 the undersigned is validly existing and in good standing under the laws of its jurisdiction of incorporation or
organization, and has, as applicable, all requisite corporate, partnership, limited liability company, or similar authority to enter into this Agreement and carry out the transactions contemplated hereby and perform its obligations contemplated
hereunder; and the execution and delivery of this Agreement and the performance of such Transaction Consenting Lender’s obligations hereunder have been duly authorized by, as applicable, all necessary corporate, limited liability company,
partnership, or other similar action on its part; 

  

	 	(ii)	 the execution, delivery, and performance by such Transaction Consenting Lender of this Agreement does not and
will not (A) violate any provision of law, rule, or regulation applicable to it, its charter, or bylaws (or other similar governing documents), or (B) conflict with, result in a breach of, or constitute a default under any material
contractual obligation to which it is a party; 

  
 5 

	 	(iii)	 the execution, delivery, and performance by such Transaction Consenting Lender of this Agreement, except as
expressly provided in this Agreement, does and will not require the consent or approval by any other person or entity, except for any consent or approval obtained prior to, or contemporaneously with, the Consent Effective Date;

  

	 	(iv)	 this Agreement is the legally valid and binding obligation of such Transaction Consenting Lender, enforceable
against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium, or other similar laws relating to or limiting creditors’ rights generally or by equitable principles relating
to enforceability or a ruling of a court of competent jurisdiction; 

  

	 	(v)	 is the beneficial owner of the aggregate principal amount of Term Loan Claims set forth below its name on the
signature page hereof; and/or 

  

	 	(vi)	 does not directly or indirectly own any Term Loan Claims other than as identified below its name on its
signature page hereof. 

 Section 4. Governing Law; Jurisdiction; Waiver of Jury Trial. 

 

	 	(a)	 This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be
governed by, the law of the State of New York, without giving effect to any conflicts of law principles which would permit or require the application of the law of any other jurisdiction. 

 

	 	(b)	 The undersigned Transaction Consenting Lender irrevocably agrees for itself that any legal action, suit, or
proceeding arising out of or relating to this Agreement brought by any party or its successors or assigns shall be brought and determined in any federal or state court in the Borough of Manhattan, the City of New York, and hereby irrevocably submits
to the exclusive jurisdiction of the aforesaid courts for itself, generally and unconditionally, with regard to any such proceeding arising out of or relating to this Agreement or the Transaction. The undersigned Transaction Consenting Lender agrees
not to commence any proceeding relating hereto or thereto except in the courts described above in New York, other than proceedings in any court of competent jurisdiction to enforce any judgment, decree, or award rendered by any such court in New
York as described herein. Subject to the foregoing, the undersigned Transaction Consenting Lender hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim, or otherwise, in any
proceeding arising out of or relating to this Agreement or the Transaction, (i) that any claim is not personally subject to the jurisdiction of the courts in New York as described herein for any reason and (ii) that (A) the proceeding in
any such court is brought in an inconvenient forum, (B) the venue of such proceeding is improper, or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. 

  
 6 

	 	(c)	 THE UNDERSIGNED TRANSACTION CONSENTING LENDER HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT (WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY). ANY DISPUTES RESOLVED IN COURT SHALL BE RESOLVED IN A BENCH
TRIAL WITHOUT A JURY. 

 Section 5. Reservation of Rights; No Admission. 

 

	 	(a)	 Nothing contained herein shall (i) limit the rights of the undersigned Transaction Consenting Lender under
any applicable bankruptcy, insolvency, foreclosure, or similar proceeding, including the right to appear as a party in interest in any matter to be adjudicated in order to be heard concerning any matter arising in or related to the Transaction
before a court of competent jurisdiction, in each case, so long as such consultation or appearance is not inconsistent with the undersigned Transaction Consenting Lender’s obligations hereunder, or, to the extent such Transaction is consistent
with this Agreement, under the terms of the Transaction; (ii) limit the ability of the undersigned Transaction Consenting Lender to sell or enter into any transactions in connection with the Term Loan Claims, or any other claims against or
interests in the Company, subject to the terms of Section 2(d); (iii) limit the rights of the undersigned Transaction Consenting Lender under the Credit Agreement or any agreements executed in connection therewith, except to the extent exercise
of any such rights are inconsistent with the terms of this Agreement as applicable to the undersigned Transaction Consenting Lender; or (iv) constitute a waiver or amendment of any provision of the Credit Agreement or any agreements executed in
connection therewith except as expressly set forth herein. 

 Section 6. Consents and Acknowledgments. 

 

	 	(a)	 By executing this Agreement, the undersigned Transaction Consenting Lender forbears from exercising remedies
with respect to any Default or Event of Default that is caused by the Company’s entry into this Agreement or the other documents related to this Agreement and the transactions contemplated in this Agreement, and agrees to direct the Term Loan
Agent not to exercise remedies to the extent that any other Term Loan Lender directs the Term Loan Agent to exercise such remedies; it being understood and agreed that this waiver shall be terminated and be without any further force and effect upon
the termination of this Agreement without the occurrence of the Closing Date. 

  
 7 

	 	(b)	 Although the undersigned Transaction Consenting Lender intends that this Agreement should not constitute, and
it believes it does not constitute, a solicitation or acceptance of a chapter 11 plan of reorganization or an offering of securities, the undersigned Transaction Consenting Lender acknowledges, agrees, and represents that it (i) is an
“accredited investor” as such term is defined in Rule 501(a) of the Securities Act of 1933 and (ii) has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the
securities to be acquired by it pursuant to the Transaction and understands and is able to bear any economic risks with such investment. 

  

	 	(c)	 Subject to its obligation to file such Registration Statement under the Transaction Support Agreement, SMLP
shall use its reasonable best efforts to prepare and file a registration statement (a “Registration Statement”) with the SEC (on such form as SMLP is eligible to use under the Securities Act) covering resales by the holders of
Registrable Securities as selling unitholders of all Registrable Securities. In connection with any Registration Statement in which a holder of Registrable Securities that is a seller of Registrable Securities is participating, each such holder will
furnish to SMLP such information and affidavits as SMLP reasonably requests for use in connection with any such Registration Statement or prospectus and, to the fullest extent permitted by law, each such seller will indemnify SMLP and its directors
and officers and each Person who controls SMLP (within the meaning of the Securities Act or the Exchange Act) against any and all losses, claims, damages, liabilities and expenses (including, without limitation, reasonable attorneys’ fees and
disbursements except as limited by Section 27(g)(iii) of the Transaction Support Agreement) resulting from any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or related prospectus or any
amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or alleged
untrue statement or omission or alleged omission is contained in any information or affidavit so furnished by such seller or any of its employees, advisors, agents, representatives, partners, officers, and directors and each Person who controls such
holder (within the meaning of the Securities Act or the Exchange Act) (collectively, the “Seller Affiliates”) in writing specifically for inclusion in the Registration Statement; provided that the obligation to indemnify will be
several, not joint and several, among such sellers of Registrable Securities, and the liability of each such seller of Registrable Securities will be in proportion to the amount of Registrable Securities sold by them, and, provided, further, that
such liability will be limited to the net amount received by such seller from the applicable sale of Registrable Securities. 

[Signature Page Follows] 

  
 8 

					
	 TRANSACTION CONSENTING LENDER:
	  	
	 By:
	  	  
	  	
			
	 Name:
	  		  	
			
	 Title:
	  		  	
		  		  	  

		  	Principal Amount of Term Loan Claims:	  	$
		  		  	  

		
	Notice Information	  	
			
	Address:	  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
	Attn:	  	  
	  	
			
	Fax:	  	  
	  	
			
	Email:	  	  
	  	

 [Summit Midstream – Transaction Consenting Lender Signature Page to Strict Foreclosure Consent
Agreement] 

 Exhibit 1 

Term Sheet 
 [attached
as Exhibit A to the Transaction Support Agreement] 

 Exhibit 2 

Mutual Release Agreement 

[attached as Exhibit 3 to Exhibit A to the Transaction Support Agreement] 

 Exhibit 3 

Registration Questionnaire 

[attached as Exhibit D to the Transaction Support Agreement] 

 Exhibit 4 

Strict Foreclosure Agreement 

[attached as Exhibit 2 to Exhibit A to the Transaction Support Agreement]EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into as of September 30, 2020 (the “Effective
Date”), between Harpreet Rana (“Executive”) and Regional Management Corp., a Delaware corporation (the “Corporation”). 

RECITALS 
 A. The
Corporation believes that the future growth, profitability, and success of the business of the Corporation will be significantly enhanced by the employment of Executive in the capacity of Executive Vice President and Chief Financial Officer
of the Corporation. 
 B. The Corporation desires to provide Executive with appropriate incentives and rewards related to the
performance by Executive and to encourage the employment of Executive in the service of the Corporation, and Executive desires to accept such employment, on the terms and conditions of this Agreement, from and after the date of this Agreement. 

C. The Corporation and Executive desire to enter into an employment agreement, as evidenced in this Agreement, to reflect the terms of
Executive’s employment. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good
and valuable consideration, the receipt and sufficiency of which is mutually acknowledged, the parties hereto hereby agree as follows: 

I. DEFINITIONS 
 1.1
Definitions. In addition to terms defined elsewhere in this Agreement, for purposes of this Agreement, the following terms will have the following respective meanings when used in this Agreement with initial capital letters: 

(a) “2015 Plan”: as defined in Section 2.4(c). 

(b) “Affiliate”: with respect to any Person, any other Person directly or indirectly controlling,
controlled by, or under common control with such Person. For purposes of this definition, “control,” when used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of any such Person, whether through the ownership of voting securities, by contract, or otherwise, and the terms “controlling” and “controlled” have the
respective meanings correlative to the foregoing. With respect to any natural Person, “Affiliate” will also include such Person’s grandparents, any descendants of such Person’s grandparents, the grandparents of such Person’s
spouse, and any descendants of the grandparents of such Person’s spouse (in each case, whether by blood, adoption, or marriage). 

(c) “Agreement”: as defined in the introductory paragraph. 

(d) “Annual Bonus”: as defined in Section 2.4(b)(i). 

 (e) “Annual Incentive Plan”: the Annual Incentive
Plan of the Corporation or any successor plan thereto, as amended and/or restated. 
 (f) “Average
Bonus”: the average of the Annual Bonus paid to Executive for each of the three fiscal years preceding the fiscal year in which Executive’s Termination Date occurs (or the average of such lesser number of full fiscal year periods
that Executive is employed if less than three full fiscal years prior to the Termination Date); provided, however, that if Executive’s employment terminates before December 31, 2021, then the Average Bonus shall equal the Target Bonus.

 (g) “Board”: the Board of Directors of the Corporation. 

(h) “Business”: the business of providing installment, automobile purchase, and retail purchase loans
and related payment protection insurance to consumers, and “Business Services” means the services related to the Business. 

(i) “Cause”: (i) the willful or grossly negligent material failure by Executive to perform his or her
duties hereunder (other than arising due to Executive’s Disability); (ii) the conviction of Executive, or the entering into a plea bargain or plea of nolo contendere by Executive, of any felony, or of a misdemeanor involving the unlawful
theft or conversion of substantial monies or other property or any fraud or embezzlement offense; (iii) personally or on behalf of another Person, willfully receiving a benefit relating to the Corporation or its Subsidiaries or its funds,
properties, opportunities, or other assets in violation of applicable law, or constituting fraud, embezzlement, or misappropriation; (iv) the willful or grossly negligent failure by Executive to comply substantially with any lawful written
policy of the Corporation or its Subsidiaries that materially interferes with his or her ability to discharge his or her duties, responsibilities, or obligations under this Agreement; (v) the knowing misstatement by Executive of the financial
records of the Corporation or its Subsidiaries or complicit actions in respect thereof; (vi) the material breach by Executive of any of the terms of this Agreement; (vii) Executive’s habitual drunkenness or substance abuse that
interferes with his or her ability to discharge his or her duties, responsibilities, or obligations under this Agreement, or his or her failure to pass a pre-employment drug screening in accordance with the
policies of the Corporation; (viii) the knowing failure to disclose material financial or other information to the Board; or (ix) Executive’s engagement in conduct that results in Executive’s obligation to reimburse the
Corporation for the amount of any bonus, incentive-based compensation, equity-based compensation, profits realized from the sale of the Corporation’s securities, or other compensation pursuant to application of the provisions of
Section 304 of the Sarbanes-Oxley Act of 2002, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or other applicable laws, rules, or regulations, but, in each case for clauses (i) through (ix) herein, only
if (1) Executive has been provided with written notice of any assertion that there is a basis for termination for Cause, which notice shall specify in reasonable detail specific facts regarding any such assertion, and in the case of non-willful behavior under clauses (i), (iii), (iv), or (vi), Executive has failed to cure within 30 days of written notice to Executive, (2) such written notice is provided to Executive a reasonable time
before the Board meets to consider any possible termination for Cause, (3) at or prior to the meeting of the Board to consider the matters described in the written notice, an 

  
 2 

 
opportunity is provided to Executive and his or her counsel to be heard before the Board with respect to the matters described in the written notice, (4) any resolution or other Board action
held with respect to any deliberation regarding or decision to terminate Executive for Cause is duly adopted by a vote of a majority of the entire Board of the Corporation at a meeting of the Board called and held, and (5) Executive is promptly
provided with a copy of the resolution or other corporate action taken with respect to such termination. No act or failure to act by Executive shall be considered willful unless done or omitted to be done by him or her not in good faith and without
reasonable belief that his or her action or omission was in the best interests of the Corporation. Notwithstanding the provisions of this Section 1.1(i), “Cause” will not be deemed to have occurred solely as a result of
Executive’s failure to follow any Corporation policy or any Corporation instruction to Executive that would permit Executive to terminate this Agreement under Section 2.7(a) because such policy or instruction constitutes Good Reason. 

(j) “Change of Control”: except as may be otherwise required, if at all, under Code Section 409A,
the occurrence of any of the following: 
 (i) any entity or person shall have become the beneficial owner of, or shall have
obtained voting control over, more than fifty percent (50%) of the total voting power of the Corporation’s then outstanding voting stock; 

(ii) the consummation of (A) a merger, consolidation, recapitalization, or reorganization of the Corporation (or similar
transaction involving the Corporation), in which the holders of the Corporation’s common stock immediately prior to the transaction have voting control over less than fifty percent (50%) of the voting securities of the surviving corporation
immediately after such transaction, or (B) the sale or disposition of all or substantially all of the assets of the Corporation; or 

(iii) a change in a majority of the Board within a 12-month period unless the
nomination for election by the Corporation’s stockholders or the appointment of each new director was approved by the vote of two-thirds of the members of the Board (or a committee of the Board, if
nominations are approved by a Board committee rather than the Board) then still in office who were in office at the beginning of the 12-month period. 

For the purposes of the definition of “Change of Control,” the term “person” shall mean any
individual, corporation, partnership, group, association, or other person, as such term is defined in Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended, other than the Corporation, a subsidiary of the
Corporation, or any employee benefit plan(s) sponsored or maintained by the Corporation or any subsidiary thereof, and the term “beneficial owner” shall have the meaning given the term in Rule
13d-3 under the Securities Exchange Act of 1934, as amended. 
 For the purposes of
clarity, a transaction shall not constitute a Change of Control if its principal purpose is to change the state of the Corporation’s incorporation, create a holding company that would be owned in substantially the same proportions by the
persons who held the Corporation’s securities immediately before such transaction, or is another transaction of other similar effect. 

  
 3 

 Notwithstanding the preceding provisions, in the event that any compensation
paid under this Agreement is deemed to be deferred compensation subject to (and not exempt from) the provisions of Code Section 409A, then payment to be made upon a Change of Control may be permitted, in the Board’s discretion, upon the
occurrence of one or more of the following events (as they are defined and interpreted under Code Section 409A): (A) a change in the ownership of the Corporation; (B) a change in effective control of the Corporation; or (C) a change
in the ownership of a substantial portion of the assets of the Corporation. 
 (k) “COBRA”: as
defined in Section 2.7(f). 
 (l) “Code”: the Internal Revenue Code of 1986, as amended, or any
successor thereto. Any reference herein to a specific Code section shall be deemed to include all related regulations or other guidance with respect to such Code section. 

(m) “Commencement Date”: as defined in Section 2.1. 

(n) “Compensation Committee”: Compensation Committee of the Board. 

(o) “Confidential Information”: as defined in Section 3.2. 

(p) “Corporation”: as defined in the introductory paragraph. 

(q) “Corporation Employee”: as defined in Section 3.5. 

(r) “Corporation IP”: as defined in Section 3.1(a). 

(s) “Disability”: a physical or mental impairment that prevents Executive from performing one or more
of the essential functions of his or her job hereunder, whether with or without reasonable accommodation, (i) for at least 90 consecutive calendar days or for shorter periods of time aggregating 90 or more calendar days in any 12-month period, or (ii) where a licensed physician mutually selected by Executive and the Corporation (with the Corporation responsible for any expenses related thereto) determines that the timeline for
Executive’s return to full duty is indeterminable, is indefinite, or is likely to exceed a 90-day period; provided, however, that if Executive and the Corporation cannot agree upon a mutually acceptable
licensed physician, then the determination of whether a “Disability” has occurred shall be made by the majority vote of a panel of three licensed physicians, with one physician selected by Executive, one physician selected by the
Corporation, and the third physician mutually agreed upon by the two physicians selected by Executive and the Corporation respectively (with each party responsible for his, her, or its related expenses and the parties being equally responsible for
the expenses related to the services of the third physician). 
 (t) “Effective Date”: as defined in
the introductory paragraph. 

  
 4 

 (u) “Employment Period”: as defined in
Section 2.1. 
 (v) “Estate”: as defined in Section 2.7(d). 

(w) “Executive”: as defined in the introductory paragraph. 

(x) “Exempt Person”: as defined in Section 3.2(g). 

(y) “Good Reason”: the termination of Executive’s employment by Executive which is due to
(i) (A) a material diminution of Executive’s responsibilities, position (as Executive Vice President and Chief Financial Officer of the Corporation, its successor, or ultimate parent entity), office, title, reporting relationships,
working conditions, authority, or duties, or (B) the assignment to Executive of titles, authority, duties, or responsibilities that are materially inconsistent with this Agreement and are a material diminution of his or her title, position,
authority, duties, or responsibilities as Executive Vice President and Chief Financial Officer of the Corporation; (ii) a material adverse change in the terms or status (including, but not limited to, a reduction of the Employment
Period) of this Agreement; (iii) a material reduction in Executive’s compensation package provided herein, including Salary, Target Bonus, bonus opportunities, or equity award opportunities (other than a reduction in bonus opportunities or
equity award opportunities that applies to senior executive officers of the Corporation generally or that is due, in the discretion of the Board or the Compensation Committee, to the failure to attain performance or other business objectives, and
subject in all cases to the discretion of the Compensation Committee and other terms of Section 2.4 herein); or (iv) an actual relocation of the Corporation’s principal office (A) to a location outside of a 50-mile radius from the current location of the Corporation’s principal office at 979 Batesville Road, Suite B, Greer, South Carolina 29651, if Executive’s principal residence was established in the
Greenville–Spartanburg–Anderson, SC Combined Statistical Area prior thereto, or (B) to any location outside of the contiguous United States or west of Dallas, Texas, if Executive’s principal residence was not established in the
Greenville–Spartanburg–Anderson, SC Combined Statistical Area prior thereto, and in each case of clauses (i) through (iv) herein, without the written consent of Executive. Notwithstanding the preceding, for any of the foregoing events
to constitute Good Reason, Executive must provide written notification of his or her intention to resign for Good Reason within 30 days after Executive knows or has reason to know of the occurrence of any such event, and the Corporation shall have
30 days from the date of receipt of such notice to effect a cure of the condition constituting Good Reason, and, upon cure thereof by the Corporation, such event shall no longer constitute Good Reason. 

(z) “Government Agencies”: as defined in Section 3.2(e). 

(aa) “Loan Source”: as defined in Section 3.4(a). 

(bb) “Non-Compete Territory”: as defined in Section 3.3.

 (cc) “Option”: as defined in Section 2.4(c)(i). 

(dd) “Performance Unit Award”: as defined in Section 2.4(c)(iv). 

  
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 (ee) “Person”: an individual, a corporation, a
partnership, a limited liability company, an association, a trust, a joint stock corporation, a joint venture, an unincorporated organization, or any federal, state, county, city, municipal, or other local or foreign government or any subdivision,
authority, commission, board, bureau, court, administrative panel, or other instrumentality thereof. 
 (ff)
“RSA”: as defined in Section 2.4(c)(ii). 
 (gg) “RSU”: as defined in
Section 2.4(c)(iii). 
 (hh) “Salary”: as defined in Section 2.4(a). 

(ii) “Severance Period”: as defined in Section 2.7(a)(ii). 

(jj) “Signing Bonus”: as defined in Section 2.4(b)(ii). 

(kk) “Stock Plan”: as defined in Section 2.4(c). 

(ll) “Subsidiary”: with respect to any Person, (i) any corporation of which a majority of the
total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote generally in the election of directors thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of
the other Subsidiaries of that Person or a combination thereof, or (ii) any limited liability company, partnership, association, or other business entity, of which a majority of the partnership or other similar ownership interests thereof is at
the time owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination thereof. For purposes of this definition, a Person or Persons will be deemed to have a majority ownership interest in a
limited liability company, partnership, association, or other business entity if such Person or Persons will be allocated a majority of limited liability company, partnership, association, or other business entity gains or losses, or is or controls
the managing member or general partner of such limited liability company, partnership, association, or other business entity. 

(mm) “Target Bonus”: as defined in Section 2.4(b)(i). 

(nn) “Termination Date”: as defined in Section 2.1. 

II. TERMS OF EMPLOYMENT 

2.1 Employment Period. The Corporation shall employ Executive, and Executive accepts employment with the Corporation, upon the terms
and conditions set forth in this Agreement for the period beginning on Executive’s date of commencement of employment, which date shall be on or before November 23, 2020 (the “Commencement Date”). The term of the
Agreement shall commence on the Commencement Date, and the Agreement will terminate on the third anniversary of the Commencement Date, unless sooner terminated in accordance with Section 2.7. The term of this Agreement as determined under the
preceding sentence is referred to herein as the “Employment Period,” and the date on which Executive’s employment terminates is referred to herein as the “Termination Date.” 

  
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 2.2 Duties During Employment Period. Executive will be an employee of, and serve as
the Executive Vice President and Chief Financial Officer of, the Corporation and will report directly to the Chief Executive Officer of the Corporation. In such capacity, Executive will perform such duties and exercise such powers that are
consistent with the position of Executive Vice President and Chief Financial Officer in accordance with the amended and restated bylaws of the Corporation and as are assigned to Executive by the Chief Executive Officer or the Board. Executive agrees
that to the best of his or her ability and experience he or she shall at all times conscientiously perform all of his or her duties and obligations under the terms of this Agreement. 

2.3 Activities During Employment Period. 

(a) Executive will devote substantially all of his or her full business time, energy, ability, attention, and skill to his or
her employment hereunder and to the Business of the Corporation and, absent the prior written approval of the Board, which approval shall not be unreasonably withheld, Executive will not engage in any business activity, whether as an employee,
investor, officer, director, consultant, independent contractor, or otherwise, that would interfere with his or her duties and responsibilities pursuant to Section 2.2. Executive agrees to comply with all lawful rules and policies established
by the Corporation and its Subsidiaries throughout the Employment Period. 
 (b) Provided that the following activities do
not interfere with Executive’s duties and responsibilities as Executive Vice President and Chief Financial Officer of the Corporation, Executive may (i) engage in charitable and community affairs, trade activities, and trade
organizations, and teach and/or lecture, so long as such activities are consistent with his or her duties and responsibilities under this Agreement, (ii) manage his or her personal investments, and (iii) serve on the boards of directors of
other companies with the Board’s prior written consent (which will not be unreasonably withheld). 
 (c) Executive will
act in accordance with laws, ordinances, regulations, professional standards, or rules of any governmental, regulatory, or administrative body, agent or authority, any court or judicial authority, or any public, private, or industry regulatory
authority. 
 2.4 Compensation. 

(a) Salary. For Executive’s services under this Agreement, the Corporation will pay to Executive an annualized base
salary (the “Salary”) of $400,000 (prorated for 2020 and any other partial year based on a fraction, the numerator of which shall be the number of days employed in such year and the denominator of which shall be 365 (or 366
in a leap year)). The Board or the Compensation Committee may review the amount of Salary from time to time and may adjust Salary upwards after any such review, with any such upward adjustments effective as of the dates determined by the Board or
the Compensation Committee. Executive’s Salary will be payable to Executive periodically in accordance with the normal practices of the Corporation. 

  
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 (b) Bonus. 

(i) Annual Bonus. For each fiscal year during the Employment Period, Executive shall be eligible for participation in
the Annual Incentive Plan with a target bonus (the “Target Bonus”) thereunder equal to no less than one hundred percent (100%) of Executive’s Salary in effect at the beginning of the fiscal year and which will be
prorated for 2020 and any other partial fiscal year based on a fraction, the numerator of which shall be the number of days employed in such partial fiscal year and the denominator of which shall be 365 (or 366 in a leap year). The Compensation
Committee shall establish and communicate to Executive performance criteria for the Corporation and/or Executive and one or more formula(s) for determining the annual bonus, if any, earned by Executive under the Annual Incentive Plan (the
“Annual Bonus”) for each fiscal year. Unless otherwise addressed in Section 2.7, if Executive is employed by the Corporation in good standing on the last day of the applicable fiscal year, Executive will be entitled to
receive an Annual Bonus for such year, to the extent earned, in an amount determined in accordance with such formula(s) set by the Compensation Committee based on the actual performance of the Corporation and/or Executive relative to the performance
criteria established by the Compensation Committee for that year. Any Annual Bonus due to Executive pursuant to this Section 2.4(b)(i) shall be paid in cash in a lump sum no later than 70 days following the fiscal year during which
Executive’s right to the Annual Bonus vests (or otherwise in a manner intended to be compliant with, or exempt from, Code Section 409A). Unless otherwise addressed under Section 2.7, Annual Bonus entitlement (to the extent earned)
vests and is fully payable if Executive is employed by the Corporation on the last day of the applicable fiscal year, even if Executive is no longer employed at the time the Annual Bonus is scheduled to be paid. 

(ii) Signing Bonus. In order to offset Executive’s loss of forfeited incentive and/or equity-based compensation
with his or her immediate past employer, the Corporation shall pay Executive a bonus (the “Signing Bonus”) in the amount of $100,000 in the first full pay period following the Commencement Date. Executive agrees that if he or
she voluntarily terminates his or her employment with the Corporation before the first anniversary of the Commencement Date, he or she shall be obligated to repay in full, and he or she hereby promises to pay in full, the Signing Bonus to the
Corporation. 
 (c) Long-Term Incentive Compensation. Subject to Executive’s continued employment, Executive
shall be eligible to participate in and receive long-term incentive, equity, and/or equity-based awards under the Corporation’s 2015 Long-Term Incentive Plan, as amended and/or restated (the “2015 Plan”), or any
successor or other applicable plan or arrangement (the 2015 Plan and such other plans or arrangements collectively, the “Stock Plan”), as provided in Section 2.4(c) and Section 2.4(d) herein. Any such long-term
incentive, equity, or equity-based awards described herein shall be subject to the terms of the Stock Plan and applicable award agreements in form acceptable to the Compensation Committee and such other terms as may be established by the
Compensation Committee. 

  
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 (i) Nonqualified Stock Option
(“Option”). The Corporation shall grant to Executive an Option to purchase such number of shares of the Corporation’s common stock as may be determined by dividing $166,250 by the fair value of each
Option share (calculated on or as close in time as practicable to the grant date in accordance with generally accepted accounting principles in the United States using the Black-Scholes option pricing model), at an exercise price per share equal to
the fair market value per share of the Corporation’s common stock on the grant date, which grant date shall be a date determined by the Compensation Committee to occur on or as soon as practicable after the Commencement Date. The Option shall
vest in equal installments on December 31, 2021, December 31, 2022, and December 31, 2023, so long as Executive’s employment continues from the grant date until the applicable vesting date or as otherwise provided in the
applicable award agreement. The term of the Option will be ten years from the grant date, subject to earlier termination in the event Executive’s employment terminates. The Option shall be subject to the terms of the Stock Plan and the
applicable nonqualified stock option award agreement in form acceptable to the Compensation Committee. 
 (ii) Restricted
Stock Award (“RSA”). The Corporation shall grant to Executive an RSA for such number of shares of the Corporation’s common stock as may be determined by dividing $166,250 by the closing price of the
common stock on the grant date, which grant date shall be a date determined by the Compensation Committee to occur on or as soon as practicable after the Commencement Date. The RSA shall vest in equal installments on December 31, 2021,
December 31, 2022, and December 31, 2023, so long as Executive’s employment continues from the grant date until the applicable vesting date or as otherwise provided in the applicable award agreement. The RSA shall be subject to the
terms of the Stock Plan and the applicable restricted stock award agreement in form acceptable to the Compensation Committee. 

(iii) Performance-Contingent Restricted Stock Unit (“RSU”) Award. Subject to
Executive’s continued employment from the Commencement Date until the grant date and the availability of sufficient shares of the Corporation’s common stock under the 2015 Plan, the Corporation shall grant to Executive an RSU award at the
time the Corporation grants its long-term incentive awards for 2021 to other members of senior management. The number of shares subject to the RSU shall be determined by dividing $166,250 by the closing price of the Corporation’s common stock
on or as close in time as practicable to the grant date. The RSU award will be eligible for vesting on December 31, 2023, based upon the achievement, if at all, of performance criteria established by the Compensation Committee and
Executive’s continued employment from the grant date until the vesting date or as otherwise provided in the applicable award agreement. The RSU award (including the distribution of any shares of the Corporation’s common stock issuable
pursuant thereto) shall be subject to the terms of the Stock Plan and the applicable restricted stock unit award agreement in form acceptable to the Compensation Committee. 

  
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 (iv) Cash-Settled Performance Unit Award (“Performance
Unit Award”). Subject to Executive’s continued employment from the Commencement Date until the grant date, the Corporation shall grant to Executive a Performance Unit Award at the time the Corporation grants its
long-term incentive awards for 2021 to other members of senior management. The Performance Unit Award will be eligible for vesting on December 31, 2023, based upon the achievement, if at all, of performance criteria established by the
Compensation Committee and Executive’s continued employment from the grant date until the vesting date or as otherwise provided in the applicable award agreement. The target cash settlement value of the Performance Unit Award at vesting shall
be equal to $166,250. The Performance Unit Award shall be subject to the terms of the Stock Plan and the applicable performance unit award agreement in form acceptable to the Compensation Committee. 

(v) Future Long-Term Incentive Compensation. Commencing in 2022, and subject to Section 2.4(d) herein and
Executive’s continued employment, Executive shall be eligible to participate in and receive long-term incentive, equity, and/or equity-based awards under the Stock Plan in the sole discretion of the Board or the Compensation Committee. 

(d) Future Compensation Opportunities. Commencing in 2022, and for the remainder of the Employment Period, the
Corporation undertakes and agrees to provide Executive with an annual Salary, cash incentive compensation opportunity, and equity or long-term incentive compensation opportunity of no less than $1,400,000 in the aggregate (inclusive of the grant
date fair value of long-term incentive awards and prorated for any partial fiscal year); provided, however, that (i) Executive’s Salary shall be subject to the provisions of Section 2.4(a) herein, (ii) the Compensation Committee
shall have sole discretion to determine any allocation between cash incentive opportunities and equity or equity-based incentive opportunities, (iii) such cash incentive opportunities and equity or equity-based incentive opportunities shall be
subject to the terms of the applicable Corporation plan (including the Annual Incentive Plan and/or the Stock Plan) and any related award agreement, including any performance or multi-year service criteria established by the Compensation Committee
under any such plan or award agreement, and (iv) the Compensation Committee shall have sole discretion to determine if and to the extent that any such equity or equity-based incentive opportunities and/or cash incentive opportunities are deemed
earned and payable based on the attainment of performance criteria and such other terms and conditions as may be established by the Compensation Committee (including, without limitation, multi-year vesting requirements if applicable under any such
plan or award agreement and so determined by the Compensation Committee). 
 2.5 Benefits; Additional Terms. 

(a) Benefit Plans. Except as otherwise addressed in this Section 2.5, during the Employment Period, Executive shall
be entitled to participate in all pension, medical, disability, retirement, and other benefit plans and programs generally available to the Corporation’s other employees, provided that Executive meets all eligibility requirements

  
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under those plans and programs. Executive shall be subject to the terms and conditions of the plans and programs, including, without limitation, the Corporation’s right to amend and/or
terminate the plans and programs at any time and without advance notice to the participants. Notwithstanding the foregoing, Executive will not during the Employment Period be entitled to participate in any severance pay plan of the Corporation.
Executive’s severance benefits are to be solely as set forth in Section 2.7. 
 (b) Vacation; Leave.
Executive shall be entitled to paid vacation time of not less than 20 business days for each calendar year of the Employment Period (prorated for 2020 and any other partial year, based on a fraction, the numerator of which shall be the number of
days employed in such partial year and the denominator of which shall be 365 (or 366 in a leap year)). Executive shall also be entitled to all paid holidays and to reasonable personal and sick leave in accordance with the policies of the Corporation
applicable to its executive management. Unused vacation and personal and/or sick leave may not be carried over by Executive from one calendar year to the next, except as otherwise provided in the policies of the Corporation applicable to its
executive management. Notwithstanding the foregoing, such vacation, holidays, and personal and/or sick leave shall not accrue as a monetary liability of the Corporation. 

(c) Expenses; Reimbursements. Subject to compliance with the Corporation’s policies as from time to time in effect
regarding the incurrence, substantiation, verification, and reimbursement of business expenses, the Corporation will promptly pay or reimburse Executive for all reasonable expenses incurred in connection with the performance of Executive’s
duties hereunder or for promoting, pursuing, or otherwise furthering the Business of the Corporation, including Executive’s reasonable expenses for travel (including reasonable expenses associated with Executive’s travel to and from his or
her residence and the Corporation’s headquarters in Greenville, South Carolina), entertainment, and similar items. Executive acknowledges and agrees that the provisions of Section 2.5(d) below provide the exclusive reimbursement terms for
Executive’s use of any personal vehicles in connection with the performance of his or her duties as an employee of the Corporation. All expenses eligible for reimbursements or in-kind benefits provided in
connection with Executive’s employment with the Corporation must be incurred by Executive during the term of employment or service to the Corporation and all expenses eligible for reimbursements must be in accordance with the Corporation’s
expense reimbursement policies. The amount of reimbursable expenses incurred, or in-kind benefits provided, in one taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits provided, in any other taxable year. Each category of reimbursement shall be paid as soon as administratively practicable, but in no event shall any such reimbursement be paid after the last day of
Executive’s taxable year following the taxable year in which the expense was incurred. No right to reimbursement or in-kind benefits is subject to liquidation or exchange for other benefits. 

(d) Mileage Reimbursement. The Corporation will, in accordance with the Corporation’s general personal vehicle use
reimbursement policy (and consistent with the provisions of Section 2.5(c) herein), promptly reimburse Executive an amount equal to $0.50 (or such higher amount as may apply pursuant to the Corporation’s mileage reimbursement policy as it
may be in effect from time to time) for each mile he or she drives a personal car in connection with the performance of his or her duties as an employee of the Corporation. 

  
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 (e) Use of Mobile Phone. The Corporation will, at its option, either
(i) provide Executive with a mobile phone (including monthly service fees), the reasonable costs of which shall be paid by the Corporation directly to the service provider, or (ii) promptly reimburse Executive for the expense that
Executive incurs in providing for his or her own mobile phone, not to exceed $75 per month (or such higher amount as may apply pursuant to the Corporation’s mobile phone reimbursement policy as it may be in effect from time to time). 

(f) Disability Insurance Premiums. The Corporation may, at its option, provide Executive with the opportunity to elect
to include the amount of any disability insurance premiums paid by the Corporation pursuant to any disability insurance, plan, or policy provided by the Corporation to or for the benefit of Executive as taxable income to Executive. If Executive so
elects, the Corporation shall pay to Executive an additional amount necessary to put Executive in substantially the same after-tax position that he or she would have been in had he or she not elected to
include such disability insurance premiums in income (taking into account all federal, state, and local income and employment taxes due as a result of the inclusion of such disability insurance premiums in income). Payment of the additional amount,
if any, shall be made to Executive in the same pay periods in which the disability insurance premiums are included in income. 

(g) Licenses. During the Employment Period, the Corporation shall reimburse Executive for reasonable expenses necessary
to maintain his or her professional license and reasonable professional association membership fees. 
 2.6 Deductions and
Withholdings. All amounts payable or that become payable under this Agreement will be subject to any deductions and withholdings previously authorized by Executive or required by law. Executive will be responsible for any and all taxes resulting
from the benefits provided hereunder. 
 2.7 Termination. 

(a) Termination by the Corporation without Cause or by Executive for Good Reason. 

(i) Notice of Termination. The Corporation may terminate Executive’s employment hereunder without Cause at any
time, upon 30 calendar days’ written notice to Executive. Executive may terminate Executive’s employment hereunder for Good Reason upon 30 calendar days’ written notice to the Corporation, subject to the additional notice provisions
of Section 1.1(y) herein. The Corporation may elect to pay to Executive his or her portion of Salary for the notice period in lieu of permitting Executive to continue working. 

(ii) Severance Payments. If Executive is terminated by the Corporation without Cause or if Executive terminates his or
her employment for Good Reason, the Corporation will pay to Executive (A) accrued but unpaid Salary through the 

  
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Termination Date, (B) an amount equal to Executive’s Salary in effect on the Termination Date, to be paid over a period of twelve (12) months from and after the Termination
Date (such 12-month period, the “Severance Period”), (C) an amount equal to Executive’s Average Bonus as determined as of the Termination Date, to be paid over the Severance
Period, (D) a pro-rata portion of the Annual Bonus for the year in which Executive’s Termination Date occurs, to the extent earned (such amount to be calculated by determining the amount of the
Annual Bonus earned as of the end of the year in which the Termination Date occurs and pro-rating such amount by the portion of such year Executive was employed by the Corporation), plus, if Executive’s
termination occurs after year-end but before the Annual Bonus for the preceding year is paid, the Annual Bonus for the preceding year, to the extent earned, and (E) COBRA premiums as described in
Section 2.7(f). 
 (iii) Change of Control Adjustment. If Executive is terminated by the Corporation without
Cause or if Executive terminates his or her employment for Good Reason, and such termination occurs within six (6) months before or one (1) year after the effective date of a Change of Control, the amounts described in
Section 2.7(a)(ii)(B)–(C) shall be increased by a factor of one hundred percent (100%) (for a total of 200% of Salary and Average Bonus). 

(iv) Timing of Payments. The payment required by Section 2.7(a)(ii)(A) will be made as and at such times as
Executive would have otherwise received his or her Salary had he or she remained an employee of the Corporation (that is, in accordance with Corporation payroll practices). The payments required by Section 2.7(a)(ii)(B)–(C) will be made in
equal installments over the Severance Period as and at such times as Executive would have otherwise received his or her Salary had he or she remained an employee of the Corporation (that is, in accordance with Corporation payroll practices), subject
to execution of an irrevocable release as provided in Section 4.18 and provided that such amounts shall be paid commencing with the first payroll date that occurs on or after 45 calendar days following the Termination Date. Any additional
amounts payable pursuant to Section 2.7(a)(iii) attributable to a Change of Control occurring within six (6) months following Executive’s termination of employment shall be added to the remaining balance of the amounts payable under
Section 2.7(a)(ii)(B)–(C) and shall be paid as provided in this Section 2.7(a)(iv) over the remainder of the Severance Period. The payment required by Section 2.7(a)(ii)(D) will be made as and at such time as Executive would have
otherwise received his or her Annual Bonus had he or she remained an employee of the Corporation, subject to execution of an irrevocable release as provided in Section 4.18. 

(v) Additional Payments. In addition, the Corporation will pay to Executive all unreimbursed expenses incurred by
Executive prior to his or her termination pursuant to Section 2.7(a) for which Executive is entitled to reimbursement pursuant to and in accordance with Section 2.5(c). Further, during the Severance Period, the Corporation shall pay
reasonable outplacement service expenses of Executive in an amount not to exceed $25,000. 

  
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 (vi) Liquidated Damages. The payments to be made in accordance with
this Section 2.7(a) will constitute liquidated damages, and Executive will not be entitled to any other compensation from the Corporation under this Agreement or otherwise except as provided in this Section 2.7(a). 

(vii) Compliance with Article III. The Corporation’s obligation to make any payments under this
Section 2.7(a), except for accrued but unpaid Salary through the Termination Date, any Annual Bonus that was previously earned but unpaid as of the Termination Date, and reimbursement of unreimbursed expenses, is contingent upon
Executive’s compliance with Article III herein, and Executive and the Corporation agree that the Corporation shall have the right, in addition to any other rights of the Corporation, to terminate or suspend such payments in the event of
Executive’s breach of Article III herein. 
 (viii) Termination of Agreement. Upon termination of
Executive’s employment pursuant to this Section 2.7(a), except for the payments required by this Section 2.7(a) or as required by applicable law, the Corporation will have no additional obligations to Executive hereunder or otherwise
and, except as otherwise provided in this Agreement (including but not limited to Executive’s obligations under Article III herein), this Agreement will terminate. 

(b) Termination by the Corporation for Cause. The Corporation will have the right to terminate Executive’s
employment hereunder for Cause upon written notice to Executive and Executive’s failure to cure during any applicable cure period as set forth in this Agreement. If Executive’s employment is terminated for Cause, the Corporation will pay
to Executive (i) accrued but unpaid Salary through the Termination Date (payable 45 calendar days after the Termination Date), and (ii) all unreimbursed expenses incurred by Executive prior to the Termination Date for which Executive is
entitled to reimbursement pursuant to and in accordance with Section 2.5(c). Upon termination of Executive’s employment pursuant to this Section 2.7(b), except for the payments required by this Section 2.7(b) or as required by
applicable law, the Corporation will have no additional obligations to Executive hereunder or otherwise and, except as otherwise provided in this Agreement (including but not limited to Executive’s obligations under Article III herein), this
Agreement will terminate as of the Termination Date. 
 (c) Voluntary Termination by Executive. If Executive
voluntarily terminates his or her employment, the Corporation will pay to Executive (i) accrued but unpaid Salary through the Termination Date (payable as and at such times as Executive would have otherwise received his or her Salary had he or
she remained an employee of the Corporation (that is, in accordance with Corporation payroll practices)), (ii) if Executive’s termination occurs after year-end but before the Annual Bonus for the
preceding year is paid, the Annual Bonus for the preceding year, to the extent earned (payable as and at such time as Executive would have otherwise received his or her Annual Bonus had he or she remained an employee of the Corporation), and
(iii) all expenses incurred by Executive prior to the Termination Date for which Executive is entitled to reimbursement pursuant to and in accordance with Section 2.5(c). Upon termination of Executive’s employment pursuant to this
Section 2.7(c), except for the payments required by this Section 2.7(c) or as required 

  
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by applicable law, the Corporation will have no additional obligations to Executive hereunder or otherwise and, except as otherwise provided in this Agreement (including but not limited to
Executive’s obligations under Article III herein), this Agreement will terminate. 
 (d) Termination by Death of
Executive. If Executive dies during the Employment Period, the Corporation will pay to such Person or Persons as Executive may designate in writing or, in the absence of such designation, to the estate of Executive (as the case may be, the
“Estate”) the sum of (i) accrued but unpaid Salary earned prior to Executive’s death, (ii) expenses incurred by Executive prior to his or her death for which Executive is entitled to reimbursement pursuant to
and in accordance with Section 2.5(c), and (iii) a pro-rata portion of the Annual Bonus for the year in which Executive’s death occurs, to the extent earned (such amount to be calculated by
determining the amount of the Annual Bonus earned as of the end of the year in which the death occurs and pro-rating such amount by the portion of such year Executive was employed by the Corporation), plus, if
Executive’s death occurs after year-end but before the Annual Bonus for the preceding year is paid, the Annual Bonus for the preceding year, to the extent earned. The payments described in clauses
(i) and (ii) in the preceding sentence will be made within 45 calendar days following the date of Executive’s death. Any Annual Bonus will be paid as and at such times as Executive would have otherwise received his or her Annual Bonus had
he or she remained an employee of the Corporation. This Agreement in all other respects will terminate upon the death of Executive, and all rights of Executive and his or her heirs, legatees, descendants, testamentary executors, and testamentary
administrators regarding compensation and other benefits under this Agreement shall cease. 
 (e) Termination for
Disability. Executive acknowledges and agrees that his or her position is unique and critical to the Corporation and that the Corporation would suffer grievous economic injury or other undue hardship if Executive becomes unable to perform one or
more essential functions of his or her job due to a Disability, as defined by Section 1.1(s). The parties, therefore, agree to the following termination provisions to avoid grievous economic injury and/or other undue hardship to the Corporation
in the event of the Disability of Executive. 
 (i) Notice of Termination. Subject to a municipal, state, or federal
law expressly providing to the contrary, the Corporation will have the right to terminate Executive’s employment hereunder at any time upon the Disability of Executive during the Employment Period. 

(ii) Severance Payments. If Executive’s employment is terminated because of Executive’s Disability, the
Corporation will pay to Executive (A) accrued but unpaid Salary through the Termination Date, (B) an amount equal to Executive’s Salary in effect on the Termination Date, to be paid over the Severance Period, (C) an amount equal
to Executive’s Average Bonus as determined as of the Termination Date, to be paid over the Severance Period, (D) a pro-rata portion of the Annual Bonus for the year in which Executive’s
termination due to Disability occurs, to the extent earned (such amount to be calculated by determining the amount of the Annual Bonus earned as of the end of the year in which Executive’s 

  
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termination due to Disability occurs and pro-rating such amount by the portion of such year Executive was employed by the Corporation), plus, if
Executive’s termination due to Disability occurs after year-end but before the Annual Bonus for the preceding year is paid, the Annual Bonus for the preceding year, to the extent earned, and
(E) COBRA premiums as described in Section 2.7(f). 
 (iii) Timing of Payments. The payment required by
Section 2.7(e)(ii)(A) will be made as and at such times as Executive would have otherwise received his or her Salary had he or she remained an employee of the Corporation (that is, in accordance with Corporation payroll practices). The payments
required by Section 2.7(e)(ii)(B)–(C) will be made in equal installments over the Severance Period as and at such times as Executive would have otherwise received his or her Salary had he or she remained an employee of the Corporation
(that is, in accordance with Corporation payroll practices), subject to execution of an irrevocable release as provided in Section 4.18 and provided that such amounts shall be paid commencing with the first payroll date that occurs on or after
45 calendar days following the Termination Date. The payment required by Section 2.7(e)(ii)(D) will be made as and at such time as Executive would have otherwise received his or her Annual Bonus had he or she remained an employee of the
Corporation, subject to execution of an irrevocable release as provided in Section 4.18. 
 (iv) Additional
Payments. In addition, the Corporation will pay to Executive all unreimbursed expenses incurred by Executive prior to his or her termination pursuant to Section 2.7(e) for which Executive is entitled to reimbursement pursuant to and in
accordance with Section 2.5(c). Further, during the Severance Period, the Corporation shall pay reasonable outplacement service expenses of Executive in an amount not to exceed $25,000. 

(v) Offset for Disability Benefits. The payment obligations of the Corporation set forth in this Section 2.7(e)
will be reduced by the amount of any disability benefits paid to Executive pursuant to any disability insurance, plan, or policy provided and paid for by the Corporation. In the event that any such disability insurance, plan, or policy pays
disability benefits to Executive that are not subject to local, state, or federal taxation, the payment obligations of the Corporation set forth in this Section 2.7(e) will be reduced by an amount equal to the gross taxable amount that the
Corporation would have been required to pay in order to yield the net, after-tax benefit that Executive actually received pursuant to the disability insurance, plan, or policy. 

(vi) Liquidated Damages. The payments to be made in accordance with this Section 2.7(e) will constitute liquidated
damages, and Executive will not be entitled to any other compensation from the Corporation under this Agreement or otherwise except as provided in this Section 2.7(e). 

(vii) Compliance with Article III. The Corporation’s obligation to make any payments under this
Section 2.7(e), except for accrued but unpaid Salary through the Termination Date, any Annual Bonus that was previously earned but 

  
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unpaid as of the Termination Date, and reimbursement of unreimbursed expenses, is contingent upon Executive’s compliance with Article III herein, and Executive and the Corporation agree that
the Corporation shall have the right, in addition to any other rights of the Corporation, to terminate or suspend such payments in the event of Executive’s breach of Article III herein. 

(viii) Termination of Agreement. Upon termination of Executive’s employment pursuant to this Section 2.7(e),
except for the payments required by this Section 2.7(e) or as required by applicable law, the Corporation will have no additional obligations to Executive hereunder or otherwise and, except as otherwise provided in this Agreement (including but
not limited to Executive’s obligations under Article III herein), this Agreement will terminate. 
 (f) Payment of
COBRA Premiums; No Effect on Vested and Accrued Benefits. During the Severance Period and provided that Executive timely and properly elects health continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985
(“COBRA”), the Corporation shall reimburse Executive for the monthly COBRA premium paid by Executive for himself or herself and his or her dependents for continuation coverage under the Corporation’s group medical plan;
provided, however, that if at any time during the Severance Period Executive becomes eligible to receive health insurance from a subsequent employer or is no longer eligible to receive COBRA continuation coverage under the Corporation’s group
medical plan, the Corporation’s obligation to continue to reimburse Executive for his or her COBRA premium payments shall terminate immediately. Such reimbursement shall be paid to Executive on the 20th day of the month immediately following
the month in which Executive timely remits the required COBRA premium payment. Notwithstanding anything to the contrary herein and subject to the terms of any benefit plan or program of the Corporation, no termination of Executive’s employment
with the Corporation shall in any manner whatsoever result in any termination, curtailment, reduction, or cessation of any vested benefits or other entitlements to which Executive is entitled under the terms of any such benefit plan or program of
the Corporation in respect of which Executive is a participant as of the Termination Date. 
 (g) No Mitigation; No
Offset. In the event of any termination of Executive’s employment under this Section 2.7, Executive shall be under no obligation to seek other employment and there shall be no offset against amounts due Executive under this Agreement
on account of any compensation attributable to any subsequent employment that he or she may obtain, except as specifically provided in this Section 2.7. Notwithstanding anything contained in this Agreement to the contrary, any compensation
and/or benefits payable to Executive under any other severance or change-in-control plan, program, policy, or arrangement of the Corporation in which Executive is a
participant (other than the Stock Plan or the Annual Incentive Plan, or any award granted thereunder) shall be reduced by the amount of all compensation and benefits payable under this Section 2.7. 

(h) Survival. In the event that the Corporation becomes obligated during the Employment Period to make post-termination
payments to Executive pursuant to this 

  
 17 

 
Section 2.7, the Corporation’s obligation to continue to make such payments in accordance with this Section 2.7 shall survive the termination of the Agreement and the Employment
Period, subject to the other provisions of this Agreement (including but not limited to Executive’s compliance with Article III). For the avoidance of doubt, Executive will not be entitled to any payment pursuant to this Section 2.7 if
Executive’s termination of employment occurs after the end of the Employment Period. 
 III. RESTRICTIVE COVENANTS 

3.1 Patents, Inventions, and Other Intellectual Property. 

(a) If at any time during the Employment Period or (if applicable) prior thereto at any time that Executive was an employee,
agent, director, or officer of or consultant to the Corporation or its Subsidiaries, Executive, whether alone or with any other Person, makes, discovers, produces, conceives, or first reduces to practice any invention, process, development, design,
or improvement that relates to, affects, or, in the opinion of the Board, is capable of being used or adapted for use in or in connection with the Business or any product, process, or intellectual property right of the Corporation or its
Subsidiaries, (i) Executive acknowledges and agrees that such invention, process, development, design, or improvement (collectively, “Corporation IP”) will be the sole property of the Corporation or such Subsidiaries, as
appropriate, and is hereby irrevocably assigned by Executive to the Corporation or such Subsidiaries, as appropriate, and (ii) Executive will immediately disclose in confidence all Corporation IP to the Corporation in writing. The Corporation
shall have the right to use all such Corporation IP, whether original or derivative, in any matter it chooses without any related royalty, licensure, or other obligation. Executive acknowledges that all such Corporation IP shall be considered as
“work made for hire” as provided under the United States Copyright Act, 17 U.S.C. Section 101, et seq., and shall belong exclusively to the Corporation. Executive agrees further that in the event that any Corporation IP should be
deemed not to be work made for hire belonging exclusively to the Corporation, he or she shall promptly assign and transfer such Corporation IP to the Corporation so that the Corporation shall be, in fact, the exclusive owner. 

(b) Executive will, if and when reasonably required to do so by the Corporation (whether during the Employment Period or
thereafter), at the Corporation’s expense and, if after the expiration of the Employment Period, subject to Executive’s availability and reimbursement by the Corporation of Executive’s reasonable out-of-pocket expenses and payment to Executive of a reasonable per diem to compensate Executive for time spent in connection therewith: (i) apply, or join with the Corporation or a Subsidiary thereof,
as appropriate, in applying, for patents or other protection in any jurisdiction in the world for any Corporation IP; (ii) execute or procure to be executed all instruments, and do or procure to be done all things, that are necessary or, in the
opinion of the Corporation, advisable for vesting such patents or other protection in the name of the Corporation or a Subsidiary thereof or any nominee thereof, or subsequently for renewing and maintaining the same in the name of the Corporation, a
Subsidiary thereof, or its nominees; and (iii) assist in defending any proceedings relating to, or any application for, such patents or other protection. 

  
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 (c) Executive irrevocably appoints the Corporation as his or her attorney in
his or her name (with full power of substitution and re-substitution) and on his or her behalf to execute all documents, and do all things, required in order to give full effect to the provisions of this
Section 3.1. 
 3.2 Confidentiality. 

(a) Executive acknowledges that during the Employment Period and (if applicable) prior thereto when he or she was an employee,
agent, director, or officer of or consultant to the Corporation, Executive has been given and will continue to have, in connection with the conduct of the Business, access and exposure to trade secrets and other confidential information in written,
oral, electronic, and other form regarding the Corporation and its Subsidiaries, and their respective Affiliates, businesses, operations, equipment, products, and employees (“Confidential Information”), including, but not
limited to: 
 (i) the identities of customers and key accounts and relationships and potential customers and key accounts
and relationships, including, without limitation, the identity of customers and key accounts and potential customers and key accounts cultivated or maintained by Executive while providing services to the Corporation or its Subsidiaries, or that
Executive cultivates or maintains while providing services to the Corporation or its Subsidiaries using the Corporation’s (or its Subsidiaries’) products, name, and infrastructure, and the identities of contact persons at those customers
and key accounts and potential customers and key accounts, as well as other such confidential information related to the Business to which Executive is exposed during the course of his or her employment or service; 

(ii) the particular preferences, likes, dislikes, and needs of those customers and key accounts and relationships, and
potential customers and key accounts and contact persons with respect to service types, financing terms, pricing, sales calls, timing, sales terms, rental terms, lease terms, service plans, and other marketing terms and techniques; 

(iii) the business methods, practices, strategies, forecasts, pricing, and marketing techniques; 

(iv) the identities of brokers, licensors, vendors, and other suppliers and the identities of contact persons at such brokers,
licensors, vendors, and other suppliers; 
 (v) the identities of key sales representatives and personnel and other
employees; 
 (vi) advertising and sales materials, research, technology, intellectual property rights, training materials
and techniques, computer software, and related materials; 

  
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 (vii) other facts and financial and other business information concerning
such Persons or relating to their business, operations, financial condition, results of operations, and prospects; and 

(viii) all other information the Corporation or its Subsidiaries try to keep confidential and that has commercial value or is
of such a nature that its unauthorized disclosure would be detrimental to the Corporation’s or any of its Subsidiaries’ interests. 

(b) Notwithstanding the foregoing, “Confidential Information” will not include information that is approved for
public release by the Corporation or its Subsidiaries or information that Executive can demonstrate (i) is already in or has subsequently entered the public domain, other than as a result of any breach of this Agreement by Executive;
(ii) was in the possession of or known to Executive prior to Executive’s employment or other service with the Corporation and is not subject to confidentiality restrictions; (iii) was obtained from a third party not in violation of
any agreement with, or duty of confidentiality to, the Corporation; or (iv) was independently developed by Executive without use of or reference to the Corporation’s Confidential Information. 

(c) During the Employment Period and thereafter, Executive will not at any time, except as directed by the Corporation, use for
himself, herself, or others, directly or indirectly, any such Confidential Information, and, except as required by law or as directed by the Corporation, Executive will not disclose such Confidential Information, directly or indirectly, to any other
Person or use, lecture upon, or publish any of the Confidential Information. 
 (d) All physical property and all notes,
memoranda, files, records, writings, documents, and other materials of any and every nature, written or electronic, that Executive has prepared, developed, or received, or will prepare, develop, or receive in the course of his or her association
with the Corporation or its Subsidiaries and that relate to or are useful in any manner to the Business or any other business now or hereafter conducted by the Corporation or its Subsidiaries, are and will remain the sole and exclusive property of
such Persons. Except as may be required in the performance of Executive’s duties under this Agreement, Executive will not remove from such Person’s premises any such physical property, the original, “soft copy,” or any
reproduction of any such materials nor the information contained therein, and all such physical property, materials, and information in his or her possession or under his or her custody or control will, on the Termination Date, be immediately turned
over to the Corporation or its Subsidiaries. 
 (e) Notwithstanding the foregoing, (i) nothing in this Agreement or
other agreement prohibits Executive from reporting possible violations of law or regulation to any federal, state, or local governmental agency or entity (the “Government Agencies”), or communicating with Government Agencies
or otherwise participating in any investigation or proceeding that may be conducted by Government Agencies, including providing documents or other information; (ii) Executive does not need the prior authorization of the Corporation to take any
action described in (i), and Executive is not required to notify the Corporation that he or she has taken any action described in (i); and 

  
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 (iii) the Agreement does not limit Executive’s right to receive an award for providing
information relating to a possible securities law violation to the Securities and Exchange Commission. 
 (f) Further,
notwithstanding the foregoing, Executive will not be held criminally or civilly liable under any Government Agency’s trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or
local government official, either directly or indirectly, or to an attorney, and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or
other proceeding, if such filing is made under seal. Additionally, an individual suing an employer for retaliation based on the reporting of a suspected violation of law may disclose a trade secret to his or her attorney and use the trade secret
information in the court proceeding, so long as any document containing the trade secret is filed under seal and the individual does not disclose the trade secret except pursuant to court order. 

(g) Further, Executive may disclose Confidential Information (i) to the extent required by a court of law, by any
governmental agency having supervisory authority over the business of the Corporation, or by any administrative or legislative body (including a committee thereof) with apparent jurisdiction to order him or her to divulge, disclose, or make
accessible such information (provided, however, that the Corporation is given reasonable prior notice of such proposed disclosure and a reasonable period of time to secure a protective order or take other action to protect such Confidential
Information (at the Corporation’s expense)); or (ii) to Executive’s spouse, attorney, and/or his or her personal tax and financial advisors as necessary or appropriate to advance Executive’s tax, financial, and other personal
planning (each, an “Exempt Person”), provided, however, that (A) each such Exempt Person is notified of the confidential nature of the Confidential Information, (B) such disclosure to an Exempt Person does not
violate applicable laws, rules, or regulations, and (C) any disclosure or use of Confidential Information by an Exempt Person shall be deemed to be a breach of this Section 3.2 by Executive. 

3.3 Covenant Not to Compete. Executive agrees that during his or her employment with the Corporation, and for a period of one
(1) year immediately following the termination thereof, whether voluntary or involuntary, he or she shall not, directly or indirectly, on behalf of himself or herself or any other person or entity, (a) work, whether on a full-time,
part-time, consulting, or contractor basis, as a chief financial officer or in another capacity similar to his or her management position with the Corporation for, (b) provide Business Services consulting to, (c) operate or manage,
or (d) have an ownership interest in, any entity (including a sole proprietorship) in the Non-Compete Territory (as hereinafter defined) that operates a Business that is competitive with the Business of
the Corporation or its Subsidiaries or that provides Business Services that are competitive with those provided by the Corporation or its Subsidiaries. Although Executive acknowledges that the market area of the Corporation and its Subsidiaries
extends throughout much of the United States and that he or she shall regularly be exposed to customers, Loan Sources, and related Confidential Information throughout that market area, the restriction in this Section 3.3 shall apply only to the
area that is within a twenty-five (25)-mile radius of any branch or other office of the Corporation or its Subsidiaries (“Non-Compete Territory”). Moreover, the restriction in this
Section 3.3 shall not prevent Executive from owning, for personal 

  
 21 

 
investment purposes, up to one percent (1%) of the stock of any entity whose securities are listed on a national or regional securities exchange or have been registered under Section 12(b)
or Section 12(g) of the Securities Exchange Act of 1934, as amended. 
 3.4 Covenant Not to Solicit Competitive Business Services
Through or From Loan Sources. 
 (a) Executive agrees that during his or her employment with the Corporation, and for a
period of one (1) year immediately following the termination thereof, whether voluntary or involuntary, he or she shall not, directly or indirectly, on behalf of himself or herself or any other person or entity, solicit the provision of, or
otherwise provide, Business Services that are competitive with those provided by or to the Corporation or its Subsidiaries, through any Loan Source. “Loan Source,” as used in this Agreement, shall mean any automobile
dealership, online credit application network, retailer, or other Business Services source that the Corporation or its Subsidiaries uses at any time during the last year of Executive’s employment with the Corporation and that Executive has
contact with or is exposed to Confidential Information about through his or her employment with the Corporation. 
 (b)
Executive agrees that during his or her employment with the Corporation, and for a period of one (1) year immediately following the termination thereof, whether voluntary or involuntary, he or she shall not, directly or indirectly, on behalf of
himself or herself or any other person or entity, solicit any Loan Source for the purpose of providing or receiving Business Services that are competitive with those provided by or to the Corporation or its Subsidiaries. 

3.5 Covenant Not to Hire or Solicit Employees. Executive agrees that during his or her employment with the Corporation, and for a
period of one (1) year immediately following the termination thereof, whether voluntary or involuntary, he or she shall not, directly or indirectly, on behalf of himself or herself or any other person or entity, hire any Corporation Employee
for, or solicit any Corporation Employee for the purpose of offering employment with, any entity or person (including himself or herself) that operates a Business that is competitive with the Business of the Corporation or its Subsidiaries or that
provides Business Services that are competitive with those provided by the Corporation or its Subsidiaries. “Corporation Employee,” as used in this Agreement, shall mean any employee who (a) is employed with the
Corporation or any of its Subsidiaries at any time during the last six (6) months of Executive’s employment with the Corporation, and (b) either (1) has been exposed to Confidential Information or (2) has had contact with
Executive through Executive’s employment with the Corporation. 
 3.6 Reasonableness of Restrictions. 

(a) Executive has carefully read and considered the provisions of Sections 3.2, 3.3, 3.4, and 3.5 and, having done so, agrees
that the restrictions, set forth in these Sections, including, but not limited to, the time period of restriction and the geographical area restriction, are fair and reasonable and are reasonably required for the protection of the interests of the
Corporation. 

  
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 (b) In the event that, notwithstanding the foregoing, either
Section 3.2, 3.3, 3.4, or 3.5 above shall be held to be invalid or unenforceable, the remaining paragraph(s) thereof shall nevertheless continue to be valid and enforceable as though the invalid or unenforceable paragraph(s) had not been
included therein. 
 (c) In the event that any provision of Sections 3.2, 3.3, 3.4, or 3.5 above shall be held to be invalid
or unenforceable, the remaining provisions thereof shall nevertheless continue to be valid and enforceable as though the invalid or unenforceable provision(s) had not been included therein. 

(d) In the event that any provision of Sections 3.2, 3.3, 3.4, or 3.5 relating to the time period of restriction, the
geographic area restriction, and/or any related aspects is found by a court of competent jurisdiction to exceed the maximum restrictiveness such court deems reasonable and enforceable, then it is the express desire and intent of both the Corporation
and Executive that such provision not be rendered invalid thereby, but rather that the duration, geographic area, scope, or nature of the restriction be deemed reduced or modified to the extent necessary to render such provision reasonable, valid,
and enforceable. The time period restriction, geographic area restriction, and/or any related aspects deemed reasonable and enforceable by the court shall then become, and thereafter be, the maximum restriction in such regard, and the provision, as
reformed, shall remain valid and enforceable. The Corporation and Executive acknowledge that this Section 3.6(d) is contractual in nature and expressly grant a court of competent jurisdiction the authority to effectuate this contractual
provision. 
 3.7 Non-Disparagement. During the term of Executive’s employment, and
thereafter, Executive shall not make any disparaging remarks, or any remarks that could reasonably be construed as disparaging, regarding the Corporation, its Subsidiaries, or its or their officers, directors, employees, stockholders,
representatives, or agents. The Corporation shall, except to the extent otherwise required by applicable laws, rules, or regulations or as appropriate in the exercise of the Board’s fiduciary duties (as determined by the Board with advice of
counsel), exercise reasonable efforts to cause the following individuals to refrain from making any disparaging statements, orally or in writing, regarding Executive from and after the termination of the Employment Period: the Corporation’s
executive officers and the members of the Board. 
 3.8 Use of Name. Executive will not have the rights to and may not use the name
“Regional Management Corp.” or any other name used by the Corporation or its Subsidiaries or any derivative or abbreviation thereof in any manner, including but not limited to in any activity prohibited under Sections 3.3, 3.4, or 3.5, or
in any manner that could reasonably be expected to be adverse to the interests of the Corporation or its Subsidiaries. This covenant shall survive indefinitely without limitation to time. 

3.9 Breach of Restrictive Covenants. Executive acknowledges that this Agreement is designed and intended to protect the legitimate
business interests of the Corporation and that the restrictions imposed by this Agreement are necessary, fair, and reasonably designed to protect those interests. Executive further acknowledges that the Corporation has given him or her access to
certain Confidential Information and that the use of such Confidential Information by him or her on behalf of some other entity (including himself or herself) would cause irreparable harm to 

  
 23 

 
the Corporation. Executive also acknowledges that the Corporation has invested considerable time and resources in developing its relationships with its Loan Sources and customers and in training
Corporation Employees, the loss of which similarly would cause irreparable harm to the Corporation. Without limitation, Executive agrees that if he or she should breach or threaten to breach any of the restrictive covenants contained in Sections
3.2, 3.3, 3.4, 3.5, and 3.7 of this Agreement, the Corporation may, in addition to seeking other available remedies (including but in no way limited to the Corporation’s rights under Sections 2.7(a) and (e)), apply, consistent with
Section 4.7 below, for the immediate entry of an injunction restraining any actual or threatened breaches or violations of said provisions or terms by Executive. If, for any reason, any of the restrictive covenants or related provisions
contained in Sections 3.2, 3.3, 3.4, 3.5, or 3.7 of this Agreement should be held invalid or otherwise unenforceable, it is agreed the court shall construe the pertinent Section(s) or provision(s) so as to allow its enforcement to the maximum extent
permitted by applicable law. Executive further agrees that any claimed breach of this Agreement by the Corporation shall not prevent, or otherwise be a defense against, the enforcement of any restrictive covenant or other Executive obligation
herein. 
 3.10 Executive Representations. Executive represents that the restrictions on his or her business provided in this
Agreement are fair and protect the legitimate business interests of the Corporation. Executive represents further that the consideration for this Agreement is fair and adequate, and that even if the restrictions in this Agreement are applied to him
or her, he or she shall still be able to earn a good and reasonable living from those activities, areas, and opportunities not restricted by this Agreement. In addition, Executive represents he or she has had an opportunity to consult with
independent counsel concerning this Agreement and is not relying on the Corporation or its counsel for any related legal, tax, or other advice. 

3.11 No Prior Obligations. The Corporation represents and warrants that it is fully authorized and empowered to enter into this
Agreement and that the performance of its obligations under this Agreement will not violate any agreement between it and any other person, firm, or organization. Executive represents he or she is not subject to any contractual or other obligations,
including but not limited to any non-competition, non-solicitation, confidentiality, and/or other restrictive covenants, that preclude him or her from entering into this
Agreement or would in any way restrict his or her work activities as required under this Agreement. Executive represents further that he or she does not possess any prior employer or other third-party proprietary information and shall not use or
disclose any such information in his or her work for the Corporation. In the event that said representations should be untrue to any material extent and a related action should be initiated against the Corporation or its Subsidiaries, Executive
agrees to promptly indemnify the Corporation for any resulting liability and costs, including attorneys’ fees, as they are incurred in full. 

3.12 Survival; Subsequent Employer Notice. The provisions contained in this Article III and in Section 4.4 and Section 4.7
will survive termination of this Agreement regardless of whether such termination is initiated by the Corporation or Executive. In the event of the termination of his or her employment with the Corporation and subsequent employment with, or work
for, another entity or person, Executive agrees to notify the Corporation of his or her new employment or work, including the name and address of the new employer or entity or person he or she intends to work for, before commencing work for the new
employer or other entity or person. In addition, Executive authorizes the Corporation to provide notice of his or her obligations under this Agreement, including a copy of this Agreement, to his or her new employer or other entity or person for whom
he or she intends to work or provide services. 

  
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 IV. MISCELLANEOUS 

4.1 Notices. All notices and other communications required or permitted hereunder will be in writing and, unless otherwise provided in
this Agreement, will be deemed to have been duly given when delivered in person or by a nationally recognized overnight courier service or when dispatched if during normal business hours by electronic facsimile transfer (confirmed in writing by mail
simultaneously dispatched) to the appropriate party at the address specified below: 
  

	 	(a)	 If to the Corporation, to: 

Regional Management Corp. 

979 Batesville Road, Suite B 

Greer, SC 29651 

Facsimile No.: (864) 729-4261 

Attention: General Counsel 

With a copy to: 

Womble Bond Dickinson (US) LLP 

One Wells Fargo Center 

301 South College Street, Suite 3500 

Charlotte, NC 28202-6037 

Facsimile No.: (704) 338-7823 

Attention: Jane Jeffries Jones 
  

	 	(b)	 If to Executive, to: 

Regional Management Corp. 

979 Batesville Road, Suite B 

Greer, SC 29651 

Facsimile No.: (864) 329-8392 

Attention: Harpreet Rana 

With copies to Executive’s address on file with the Corporation and to: 

Stewart Reifler, Esq. 

8 Brightfield Lane 

Westport, Connecticut 06880 

Facsimile No.: (203) 557-0722 

or to such other address or addresses as any such party may from time to time designate as to itself, himself, or herself by like notice. 

  
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 4.2 Amendments and Waivers. 

(a) Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is
signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. 

(b) No failure or delay by any party in exercising any right, power, or privilege hereunder will operate as a waiver thereof
nor will any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. The rights and remedies herein provided will be cumulative and not exclusive of any rights or
remedies provided by law. 
 4.3 Expenses. Unless expressly set forth to the contrary elsewhere in this Agreement, the parties will
pay all of their respective expenses incurred in connection with any legal proceeding concerning a dispute arising out of this Agreement. Notwithstanding the foregoing, the Corporation shall pay the reasonable fees and expenses of Executive’s
attorney not to exceed $7,500 in connection with the negotiation of this Agreement. 
 4.4 Indemnification. The Corporation will
provide indemnification no less favorable than that set forth in the Corporation’s amended and restated bylaws as in effect on the Effective Date. The Corporation agrees to use its best efforts to maintain a directors’ and officers’
liability insurance policy covering Executive to the extent the Corporation provides such coverage for its other executive officers and such policy is available on commercially reasonable terms. Notwithstanding any indemnification rights provided
under this Section 4.4, Executive shall not be entitled to any indemnification as to any matter where the Corporation has brought an action or has otherwise asserted a claim against Executive that Executive has breached this Agreement.
Notwithstanding anything contained in this Agreement to the contrary, this Section 4.4 shall survive the termination of the Agreement and the Employment Period. 

4.5 Successors and Assigns. The provisions, obligations and rights of this Agreement will be binding upon and inure to the benefit of
the parties hereto and their respective successors, assigns, heirs, and administrators; provided, however, that Executive may not assign, delegate, or otherwise transfer any of his or her rights or obligations under this Agreement without the prior
written consent of the Corporation. 
 4.6 No Third Party Beneficiaries. Except as otherwise expressly provided for herein, this
Agreement is for the sole benefit of the parties hereto and their permitted assigns, and nothing herein expressed or implied will give or be construed to give to any Person, other than the parties hereto and such permitted assigns, any legal or
equitable rights hereunder. 
 4.7 Choice of Law; Forum Selection; Jury Waiver. This Agreement, including its interpretation,
performance, breach, or any statutory or other claim relating to Executive’s employment with the Corporation, the termination thereof, or his or her work for the Corporation, shall be governed by, and construed in accordance with, the laws of
the State of Delaware without giving any force or effect to the provisions of any conflict of law rule thereof, and unless superseded by federal law. The parties knowingly and voluntarily agree that any controversy or

  
 26 

 
dispute arising out of or otherwise related to this Agreement, including any statutory or other claim relating to Executive’s employment with the Corporation, the termination thereof, or his
or her work for the Corporation, shall be tried exclusively, without jury, and consent to personal jurisdiction, in the state courts of Greenville, South Carolina or the United States District Court for the District of South Carolina, Greenville
division. Consistent with 6 Del. Code Ann. Section 2708(a), the parties consent to the jurisdiction of said South Carolina courts and the service of legal process on them for any civil action arising out of or otherwise related to this
Agreement, including any statutory or other claim related to Executive’s employment with the Corporation or the termination thereof. 

4.8 Controlling Document. Except with respect to the Stock Plan, the Annual Incentive Plan, or any award agreement under any such plan,
if any provision of any agreement, plan, program, policy, arrangement, or other written document between or related to the Corporation and Executive conflicts with any provision of this Agreement, the provision of this Agreement shall control and
prevail. The provisions of the Stock Plan, the Annual Incentive Plan, and any award agreements under such plans shall control over this Agreement. Notwithstanding anything contained in this Agreement to the contrary, this Section 4.8 shall
survive the termination of the Agreement and the Employment Period. 
 4.9 No Limitation of Rights. Nothing in this Agreement shall
limit or prejudice any rights of the Corporation under any other laws. 
 4.10 Counterparts. This Agreement may be signed in any
number of counterparts, including via facsimile transmission, each of which will be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 

4.11 Headings. The headings in this Agreement are for convenience of reference only and will not control or affect the meaning or
construction of any provisions hereof. 
 4.12 Severability. If any provision of this Agreement or the application of any such
provision to any Person or circumstance is held invalid, illegal, or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality, or unenforceability will not affect any other provision hereof. If any provision of
this Agreement is finally judicially determined to be invalid, ineffective, or unenforceable, the determination will apply only in the jurisdiction in which such final adjudication is made, and such provision will be deemed severed from this
Agreement for purposes of such jurisdiction only, but every other provision of this Agreement will remain in full force and effect, and there will be substituted for any such provision held invalid, ineffective, or unenforceable, a provision of
similar import reflecting the original intent of the parties to the extent permitted under applicable law. 
 4.13 Certain Interpretive
Matters. 
 (a) Unless the context otherwise requires, (i) all references to sections are to sections of this
Agreement, (ii) each term defined in this Agreement has the meaning assigned to it, (iii) words in the singular include the plural and vice versa, and (iv) the terms “herein,” “hereof,” “hereby,”
“hereunder,” and words of similar import shall mean references to this Agreement as a whole and not to any individual section or portion hereof. All references to $ or dollar amounts will be to lawful currency of the United States. 

  
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 (b) No provision of this Agreement will be interpreted in favor of, or
against, any of the parties hereto by reason of the extent to which any such party or his, her, or its counsel participated in the drafting thereof or by reason of the extent to which any such provision is inconsistent with any prior draft hereof or
thereof. 
 4.14 Entire Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject
matter hereof and supersedes all prior agreements and understandings, both oral and written, including but not limited to any term sheet, offer letter, employment agreement, or other description of terms, between the parties with respect to the
subject matter of this Agreement. 
 4.15 Full Understanding. Executive represents and agrees that Executive fully understands
Executive’s right to discuss all aspects of this Agreement with Executive’s private attorney, and that to the extent, if any, that Executive desired, Executive utilized this right. Executive further represents and agrees that:
(i) Executive has carefully read and fully understands all of the provisions of this Agreement; (ii) Executive is competent to execute this Agreement; (iii) Executive’s agreement to execute this Agreement has not been obtained by
any duress, and Executive freely and voluntarily enters into it; (iv) Executive is not subject to any covenants, agreements, or restrictions arising out of Executive’s prior employment (other than with the Corporation) that would be
breached or violated by Executive’s execution of this Agreement or performance of duties hereunder; and (v) Executive has read this document in its entirety and fully understands the meaning, intent, and consequences of this document.
Executive agrees and acknowledges that the obligations owed to Executive under this Agreement are solely the obligations of the Corporation and that none of the Corporation’s stockholders, directors, or lenders will have any obligation or
liabilities in respect of this Agreement and the subject matter hereof. 
 4.16 Code Section 409A. Notwithstanding
any other provision in this Agreement to the contrary, if and to the extent that Code Section 409A is deemed to apply to any benefit under this Agreement, it is the general intention of the Corporation that such benefits shall, to the extent
practicable, comply with, or be exempt from, Code Section 409A, and this Agreement shall, to the extent practicable, be construed in accordance therewith. Deferrals of benefits distributable pursuant to this Agreement that are otherwise exempt
from Code Section 409A in a manner that would cause Code Section 409A to apply shall not be permitted unless such deferrals are in compliance with or otherwise exempt from Code Section 409A. In the event that the Corporation (or a
successor thereto) has any stock which is publicly traded on an established securities market or otherwise and Executive is determined to be a “specified employee” (as defined under Code Section 409A), any payment of deferred
compensation subject to Code Section 409A to be made to Executive upon a separation from service may not be made before the date that is six months after Executive’s separation from service (or death, if earlier). To the extent that
Executive becomes subject to the six-month delay rule, all payments of deferred compensation subject to Code Section 409A that would have been made to Executive during the six months following his or her
separation from service, if any, will be accumulated and paid to Executive during the seventh month following his or her separation from service, and any remaining payments due will be made 

  
 28 

 
in their ordinary course as described in this Agreement. For the purposes herein, the phrase “termination of employment” or similar phrases will be interpreted in accordance with the
term “separation from service” as defined under Code Section 409A if and to the extent required under Code Section 409A. Whenever payments under the Agreement are to be made in installments, each such installment shall be deemed
to be a separate payment for purposes of Code Section 409A. Further, (i) in the event that Code Section 409A requires that any special terms, provisions, or conditions be included in this Agreement, then such terms, provisions, and
conditions shall, to the extent practicable, be deemed to be made a part of this Agreement, and (ii) terms used in this Agreement shall be construed in accordance with Code Section 409A if and to the extent required. Further, in the event
that this Agreement or any benefit thereunder shall be deemed not to comply with Code Section 409A, then neither the Corporation, its Subsidiaries, the Board, the Compensation Committee, nor its or their designees or agents shall be liable to
Executive or any other person for actions, decisions, or determinations made in good faith. 
 4.17 Compliance with Recoupment,
Ownership, and Other Policies or Agreements. As a condition to entering into this Agreement, Executive agrees that he or she shall abide by all provisions of any equity retention policy, compensation recovery policy, stock ownership guidelines,
and/or other similar policies maintained by the Corporation, each as in effect from time to time and to the extent applicable to Executive from time to time. In addition, Executive shall be subject to such compensation recovery, recoupment,
forfeiture, or other similar provisions as may apply at any time to Executive under applicable law. 
 4.18 Waiver and Release.
Executive acknowledges and agrees that the Corporation may at any time require, as a condition to receipt of benefits payable under this Agreement, including but not limited to the payment of termination benefits pursuant to Sections 2.7(a), 2.7(d),
2.7(e), and 2.7(f) herein, that Executive (or a representative of his or her Estate) execute a waiver and release discharging the Corporation and its Subsidiaries, and their respective Affiliates, and its and their officers, directors, managers,
employees, agents, and representatives and the heirs, predecessors, successors, and assigns of all of the foregoing, from any and all claims, actions, causes of action, or other liability, whether known or unknown, contingent or fixed, arising out
of or in any way related to Executive’s employment, or the termination of Executive’s employment with the Corporation or the benefits thereunder, including, without limitation, any claims under this Agreement or other related instruments.
The waiver and release shall be in a form substantially similar to the form of release attached to this Agreement as Exhibit A and shall be executed prior to the expiration of the time period provided for payment of such benefits (including those
provided under Section 2.7 herein). 
 4.19 Tax Matters. The Corporation has made no warranties or representations to Executive
with respect to the tax consequences (including but not limited to income tax consequences) contemplated by this Agreement and/or any benefits to be provided pursuant thereto. Executive acknowledges that there may be adverse tax consequences related
to the transactions contemplated hereby and that Executive should consult with his or her own attorney, accountant, and/or tax advisor regarding the decision to enter into this Agreement and the consequences thereof. Executive also acknowledges that
the Corporation has no responsibility to take or refrain from taking any actions in order to achieve a certain tax result for Executive. 

[Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
 29 

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

			
	 REGIONAL MANAGEMENT CORP.

		
	By:	 	 /s/ Robert W. Beck

	 Name:
	 	 Robert W. Beck

	 Title:
	 	 President and Chief Executive
Officer

  

			
	 EXECUTIVE

	
	 /s/ Harpreet Rana

	 Harpreet Rana

 [Signature Page to Employment Agreement] 

  
 30 

 EXHIBIT A 

RELEASE OF CLAIMS 
 This
Release of Claims (the “Agreement”) is made and entered into by and between Regional Management Corp. (the “Corporation”) and Harpreet Rana (the “Executive”). 

BACKGROUND 
 A. The
Corporation and Executive are parties to an Employment Agreement dated as of September 30, 2020 (the “Employment Agreement”) that, among its terms, provides that the Corporation will pay Executive certain
individually-tailored severance benefits (the “Severance”) under certain circumstances in connection with the termination of Executive’s employment thereunder. 

B. Under the Employment Agreement, the Corporation is not obligated to pay the Severance unless Executive has signed a release of claims in
favor of the Corporation. The parties intend this Agreement to be that release of claims. 
 NOW, THEREFORE, based on the foregoing and the
terms and conditions below, the Corporation and Executive, desiring to amicably resolve any and all existing and potential disputes between them as of the date each executes this Agreement, and in consideration of the obligations and undertakings
set forth below and intending to be legally bound, agree as follows. 
 1. Corporation’s Obligations. In return for
“Executive’s Obligations” (as described in Section 2 below), and provided that Executive signs this Agreement and does not exercise Executive’s rights to revoke or rescind Executive’s waivers of certain
discrimination claims (as described in Section 5 below), the Corporation will pay to Executive the Severance. 
 2. Executive’s
Obligations. In return for the Corporation’s Obligations in Section 1 above, Executive knowingly and voluntarily agrees to the following: 

(a) Executive hereby fully, finally, and forever releases, waives, and discharges, to the maximum extent that the law permits, any and all
legal, equitable, and administrative claims, actions, causes of action, suits, debts, accounts, judgments, and demands (collectively, “Claims”) against the Corporation or any of its direct or indirect subsidiaries or
affiliates that Executive has or may have through the date on which Executive signs this Agreement. This full and final release, waiver, and discharge extends to all and each of every legal, equitable, and administrative Claim(s) of any kind or
nature whatsoever including, without limitation, the following: 
 (i) All Claims that Executive has or may have now, whether
Executive now knows about or suspects such claims; 
 (ii) All Claims for attorney’s fees; 

 (iii) All rights and Claims of age discrimination and retaliation under the
Age Discrimination in Employment Act (“ADEA”), as amended by the Older Workers Benefit Protection Act of 1990 (“OWBPA”); 

(iv) All rights and Claims of any other forms of discrimination and retaliation of any kind or nature whatsoever under federal,
state, or local law, including but not limited to Claims of discrimination and retaliation under Title VII of the Civil Rights Act of 1964, and the Americans With Disabilities Act (“ADA”); 

(v) All Claims, whether in contract or tort, arising out of Executive’s employment and Executive’s termination of
employment with the Corporation, including but not limited to any alleged breach of contract, breach of implied contract, wrongful or illegal termination, defamation, invasion of privacy, fraud, promissory estoppel, and infliction of emotional
distress; 
 (vi) All Claims for any other compensation, including but not limited to front pay, back pay, bonus, fringe
benefits, vacation pay, other paid time off, severance pay, other severance benefits, incentive opportunity pay, other grants of incentive compensation, and grants of stock, stock options, and other equity awards or equity-based awards; 

(vii) All Claims under the Employee Retirement Security Act of 1974, as amended (“ERISA”), subject to
Section 4(c) herein; 
 (viii) All Claims for any other alleged unlawful employment practices arising out of or relating
to Executive’s employment or termination of employment with the Corporation; 
 (ix) All Claims for emotional distress,
pain and suffering, compensatory damages, punitive damages, and liquidated damages; and 
 (x) All Claims for reinstatement
or re-employment. 
 Notwithstanding the foregoing, nothing in this Section 2(a) shall
constitute a waiver of (i) any Claims that arise as a result of conduct that occurs after the date that Executive signs this Agreement, (ii) any Claims for continuation rights under COBRA, or (iii) any Claims that do not exist as of
the date that Executive signs this Agreement. 
 (b) Executive will not commence any civil actions against the Corporation except as
necessary to enforce his or her rights and/or the Corporation’s obligations under this Agreement and the Employment Agreement. The Severance that Executive is receiving in the Employment Agreement has a value that is greater than anything to
which Executive is entitled. Other than what Executive is receiving in the Employment Agreement, the Corporation owes Executive nothing else in return for Executive’s Obligations. 

(c) Executive relinquishes any right to future employment with the Corporation, and the Corporation shall have the right to refuse to re-employ Executive without liability. 

  
 A-2 

 (d) Executive agrees to continue to adhere to the terms and conditions set forth in Article
III (Restrictive Covenants) of the Employment Agreement. Executive agrees that such terms and conditions are reasonable and necessary to protect the legitimate interests of the Corporation and that any violation of Article III of the Employment
Agreement by Executive may cause substantial and irreparable harm to the Corporation. Executive agrees that the Corporation may seek any remedies set forth in Section 2.7(a)(vii), Section 2.7(e)(vii), and/or Article III of the Employment
Agreement should Executive violate Article III of the Employment Agreement. The Corporation and Executive specifically agree that Section 2.7(a)(vii), Section 2.7(e)(vii), and Article III of the Employment Agreement are incorporated hereto
by reference and integrated herein. 
 3. Certain Definitions. For purposes of Section 2, “Executive”
means Harpreet Rana and any person or entity that has or obtains any legal rights or claims through Harpreet Rana. Further, the “Corporation” means Regional Management Corp. and any parent, subsidiary, and affiliated
organization or entity in the present or past related to Regional Management Corp., and any past and present officers, directors, members, governors, attorneys, employees, agents, insurers, successors, and assigns of, and any person who acted on
behalf of or instruction of, Regional Management Corp. 
 4. Other Provisions. 

(a) The Corporation has paid or will pay Executive in full for all reimbursable business expenses, earned annualized salary, earned unpaid
bonus pay, and any other earnings through the last day of Executive’s employment (if and to the extent such payments are required to be made pursuant to the terms of the Employment Agreement). 

(b) This Agreement does not prohibit Executive from filing an administrative charge of discrimination with, or cooperating or participating in
an investigation or proceeding conducted by, the Equal Employment Opportunity Commission or other federal or state regulatory or law enforcement agency. However, Executive agrees not to seek or accept any money damages or other relief should any
such charge be filed. 
 (c) Nothing in this Agreement affects Executive’s rights in any qualified retirement or welfare benefit plan
or program in which Executive was a participant while employed by the Corporation. In addition, any equity, equity-based, or other long-term incentive awards granted to Executive shall be governed by the terms of the applicable Stock Plan (as
defined in the Employment Agreement) and related award agreement. The terms of such plans, programs, and award agreements control Executive’s rights with respect thereto. 

(d) The Corporation will indemnify Executive as permitted by and pursuant to any agreement or policy that the Corporation has adopted relating
to indemnification of directors, officers, and employees, and as permitted by and pursuant to any provision of the Corporation’s certificate of incorporation or by-laws relating to such indemnification.
Executive will continue to be covered as permitted by and pursuant to any policy of directors and/or officers liability insurance policy on the terms and conditions of the applicable policy documents. For the avoidance of doubt, nothing in
Section 2(a) of this Agreement waives any right to claims for such indemnification or insurance coverage. 

  
 A-3 

 (e) Notwithstanding the foregoing, (i) nothing in this Agreement or other agreement
prohibits Executive from reporting possible violations of law or regulation to any federal, state, or local governmental agency or entity (the “Government Agencies”), or communicating with Government Agencies or otherwise
participating in any investigation or proceeding that may be conducted by Government Agencies, including providing documents or other information; (ii) Executive does not need the prior authorization of the Corporation to take any action
described in (i), and Executive is not required to notify the Corporation that he or she has taken any action described in (i); and (iii) the Agreement does not limit Executive’s right to receive an award for providing information relating
to a possible securities law violation to the Securities and Exchange Commission. Further, notwithstanding the foregoing, Executive will not be held criminally or civilly liable under any Government Agency’s trade secret law for the disclosure
of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and (B) solely for the purpose of reporting or investigating a suspected
violation or law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Additionally, an individual suing an employer for retaliation based on the reporting of a suspected
violation of law may disclose a trade secret to his or her attorney and use the trade secret information in the court proceeding, so long as any document containing the trade secret is filed under seal and the individual does not disclose the trade
secret except pursuant to court order. 
 (f) The terms and obligations of the Employment Agreement and this Agreement shall inure to the
benefit of Executive’s heirs and estate. 
 5. Executive’s Rights to Counsel, Consider, Revoke, and Rescind. 

(a) The Corporation hereby advises Executive to consult with an attorney prior to signing this Agreement. 

(b) Executive further understands that Executive has 21 days to consider Executive’s release of rights and claims of age discrimination
under the ADEA and OWBPA, beginning the date on which Executive receives this Agreement. Executive agrees that he or she was provided this Agreement on
                    , 20         for consideration. If Executive signs this Agreement, Executive understands
that Executive is entitled to revoke Executive’s release of any rights or claims under the ADEA and OWBPA within seven days after Executive has executed it, and Executive’s release of any rights or claims under the ADEA and OWBPA will not
become effective or enforceable until the seven-day period has expired. To revoke such release, Executive must put the rescission in writing and deliver it to the Corporation by hand or mail within the seven-day period. If Executive delivers the rescission by mail, it must be: (i) postmarked within seven calendar days after the date on which Executive signs this Agreement; (ii) addressed to the
Corporation, c/o General Counsel, 979 Batesville Road, Suite B, Greer, SC 29651; and (iii) sent by certified mail return receipt requested. If Executive revokes or rescinds Executive’s waivers of discrimination claims as provided above,
Executive shall not be entitled to receive the Severance. 
 6. Non-Admission. The
Corporation and Executive enter into this Agreement expressly disavowing fault, liability, and wrongdoing, liability at all times having been denied. Neither this Agreement, nor anything contained in it, will be construed as an admission by either
of them of any liability, wrongdoing, or unlawful conduct whatsoever. If this Agreement is not executed, no term of this Agreement will be deemed an admission by either party of any right that he/she/it may have with or against the other. 

  
 A-4 

 7. No Oral Modification or Waiver. This Agreement may not be changed orally. No
breach of any provision hereof can be waived by either party unless in writing. Waiver of any one breach by a party will not be deemed to be a waiver of any other breach of the same or any other provision hereof. 

8. Governing Law. This Agreement will be governed by the substantive laws of the State of Delaware without regard to conflicts of law
principles. 
 9. Forum Selection, Jurisdiction, and Venue. Executive and the Corporation knowingly and voluntarily agree that any
controversy or dispute arising out of or otherwise related to this Agreement, including any employment or statutory claim, shall be tried exclusively, without jury, and consent to personal jurisdiction, in the state courts of Greenville, South
Carolina or the United States District Court for the District of South Carolina, Greenville division. 
 10. Counterparts. This
Agreement may be executed in any number of counterparts, each such counterpart will be deemed to be an original instrument, and all such counterparts together will constitute but one agreement. 

11. Blue Pencil Doctrine. In the event that any provision of this Agreement is unenforceable under applicable law, the validity or
enforceability of the remaining provisions will not be affected. To the extent any provision of this Agreement is judicially determined to be unenforceable, a court of competent jurisdiction may reform any such provision to make it enforceable. The
provisions of this Agreement will, where possible, be interpreted so as to sustain its legality and enforceability. 
 12. Agreement
Freely Entered Into. Executive and the Corporation have voluntarily and free from coercion entered into this Agreement. Each has read this Agreement carefully and understands all of its terms, and has had the opportunity to discuss this
Agreement with his/her/its own attorney prior to its execution. In agreeing to sign this Agreement, neither party has relied on any statements or explanations made by the other party, their respective agents, or attorneys except as set forth in this
Agreement. Both parties agree to abide by this Agreement. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the dates set forth below. 
  

									
		 		 		 	 Regional Management Corp.

					
		 		 		 	By:	 	  

	By:	 	  
	 		 	Name:	 	  

		 	Harpreet Rana	 		 	Its:	 	  

					
	Dated:	 	  
	 		 	Dated:	 	  

  
 A-5

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