Document:

Specimen of Global Note representing the Floating Rate Senior Notes due 2016

 Exhibit 4.2 

THIS SECURITY IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR
A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY AMÉRICA MÓVIL, S.A.B. DE C.V., THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS NOTE FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (“DTC”) TO AMÉRICA
MÓVIL, S.A.B. DE C.V. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE OR ANY PORTION HEREOF IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON OTHER THAN DTC OR A NOMINEE THEREOF IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR REGISTERED NOTES IN DEFINITIVE REGISTERED FORM IN THE LIMITED CIRCUMSTANCES REFERRED
TO IN THE INDENTURE, THIS GLOBAL NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 AMÉRICA MÓVIL, S.A.B. DE C.V. 

Floating Rate Senior Notes due 2016 
 CUSIP
Number: 02364W BF1 / ISIN: US02364WBF14 
  

			
	No.	  	U.S.$

 América Móvil, S.A.B. de C.V. (the “Company,” which term includes any successor
Person under the Indenture hereinafter referred to), a sociedad anónima bursátil de capital variable organized and existing under the laws of the United Mexican States (“Mexico”), for value received, hereby
promises to pay to Cede & Co., or registered assigns, the principal sum of
                             Dollars, as revised by the Schedule of Increases and Decreases in Global Note
attached hereto on September 12, 2016 (unless earlier redeemed, in which case, on the applicable Redemption Date) and to pay interest thereon from September 12, 2013 or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, as the case may be, quarterly in arrears on March 12, June 12, September 12 and December 12 of each year, commencing on December 12, 2013 at a floating rate equal to Three-Month LIBOR
determined for the relevant Interest Period plus 1.0%, until the principal hereof is paid or made available for payment; provided that any principal of, and any premium and interest on, this Note which is overdue shall bear interest (to the
extent that payment thereof shall be legally enforceable) at the rate per annum then borne by this Note from the date such amount is due to but not including the day it is paid or made available for payment, and such overdue interest shall be paid
as provided in Section 306 of the Base Indenture. 
 Interest on this Note shall be computed on the basis of the actual number of days
elapsed during the relevant Interest Period and a 360-day year. 

 The interest rate payable on this Note shall not be higher than the maximum rate permitted by the
laws of the State of New York, as such laws may be modified by U.S. laws of general application. 
 The interest so payable, and punctually
paid or duly provided for, on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the day on which DTC is open for
business immediately preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be
paid to the Person in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to
Holders of this Note not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which this Note may be listed, and upon such notice
as may be required by such exchange, all as more fully provided in the Indenture. 
 Payment of the principal of, and premium, if any, and
interest on, this Note shall be made at the office of the Trustee or agency of the Company in the Borough of Manhattan, The City of New York, New York maintained for such purpose and at any other office or agency maintained by the Company for such
purpose, in Dollars against surrender of this Note in the case of any payment due at the Maturity of the principal thereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided,
however, that at the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. Notwithstanding the foregoing, payment of any amount
payable in respect of a Global Note shall be made in accordance with the Applicable Procedures of the Depositary. 
 Reference is hereby
made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this
Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
 2 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: September 12, 2013 
  

			
	 AMÉRICA MÓVIL, S.A.B. DE C.V.

		
	 By:
	 	
		 	  

		 	Name:
		 	Title:
		
	 By:
	 	
		 	  

		 	Name:
		 	Title:

 This is one of the Notes referred to in the within-mentioned Indenture. 

Dated: September 12, 2013 
  

			
	 THE BANK OF NEW YORK MELLON,

	         as Trustee

		
	 By:
	 	
		 	  

		 	Authorized Officer

  
 3 

 [Reverse of Note] 

This Note is one of a duly authorized issue of securities of the Company (the “Notes”), issued under an Indenture, dated as
of June 28, 2012 (the “Base Indenture”), between the Company and The Bank of New York Mellon, as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), as supplemented by the
Eighth Supplemental Indenture dated as of September 12, 2013 (the “Eighth Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) between the Company and the Trustee, as Trustee,
Security Registrar, Paying Agent, Transfer Agent and Calculation Agent, and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and
the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. The terms, conditions and provisions of this Note are those stated in the Indenture (including those made a part of the Indenture by
reference to the Trust Indenture Act) and those set forth in this Note. This Note is one of the series designated on the face hereof. 

Additional notes on terms and conditions identical to those of this Note (except for issue date, issue price and the date from which interest
shall accrue and, if applicable, first be paid) may be issued by the Company without the consent of the Holders of the Notes. The amount evidenced by such additional Notes shall increase the aggregate principal amount of, and shall be consolidated
and form a single series with, the Notes, in which case the Schedule of Increases and Decreases in Global Note attached hereto will be correspondingly adjusted. 

In any case where any Interest Payment Date (other than an Interest Payment Date that is also a Redemption Date, Stated Maturity or other
Maturity) of the Notes is not be a Business Day, then (notwithstanding any other provision of the Indenture or of the Notes) payment of principal and premium, if any, and interest need not be made on such date, but may be made on the next succeeding
Business Day (unless such succeeding Business Day falls in the next calendar month, in which case payment of principal and premium, if any, or interest shall be due and payable on the immediately preceding Business Day), and interest will accrue to,
but excluding, the actual Interest Payment Date. In any case where any Redemption Date, Stated Maturity Date or other Maturity of the Notes is not a Business Day, then (notwithstanding any other provision of the Indenture or the Notes) payment of
principal and premium, if any, and interest will not be made on such date, but will be made on the next succeeding Business Day with the same force and effect as if made on such Redemption Date, Stated Maturity or other Maturity, as the case may be,
and interest will not accrue as a result of such delayed payment. 
 If an Event of Default with respect to Notes shall occur and be
continuing, the principal of all of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

All payments of principal, premium, if any, and interest in respect of the Notes shall be made after withholding or deduction for any present
or future taxes, duties, assessments or governmental charges of whatever nature imposed, levied, collected, withheld or assessed by or on behalf of Mexico or any authority therein or thereof having power to tax (“Mexican Taxes”). In
the event of any withholding or deduction for any Mexican Taxes, the Company shall pay such additional amounts (“Additional Amounts”) as will result in receipt by the Holders of Notes on the respective due dates of such amounts as
would have been received by them had no such withholding or deduction (including for any Mexican Taxes payable in respect of Additional Amounts) been required, except that no such Additional Amounts shall be payable with respect to any payment on a
Note to the extent: 
 (i) that any such taxes, duties, assessments or other governmental charges are imposed solely because
of (A) a connection between the Holder and Mexico other than the 

  
 4 

 
ownership or holding of such Note and the mere receipt of payments with respect to such Note or (B) failure by the Holder or any other Person to comply with any certification, identification
or other reporting requirement concerning the nationality, residence, identity or connection with Mexico of the Holder or any beneficial owner of such Note if compliance is required by law, regulation or by an applicable income tax treaty to which
Mexico is a party, as a precondition to exemption from, or reduction in the rate of, the tax, assessment or other governmental charge and we have given the Holders at least 30 days’ notice prior to the first payment date with respect to which
such certification, identification or reporting requirement is required to the effect that Holders will be required to provide such information and identification; 

(ii) of any such taxes, duties, assessments or other governmental charges with respect to such Note presented for payment more
than 15 days after the date on which such payment became due and payable or the date on which payment thereof is duly provided for and notice thereof given to Holders, whichever occurs later, except to the extent that the Holder of such Note would
have been entitled to such Additional Amounts on presenting such Note for payment on any date during such 15-day period; 

(iii) of estate, inheritance, gift or other similar taxes, assessments or other governmental charge imposed with respect to
such Note; 
 (iv) of any tax, duty, assessment or other governmental charge payable otherwise than by deduction or
withholding from payments on such Note; 
 (v) of any payment on such Note to a Holder who is a fiduciary or partnership or a
person other than the sole beneficial owner of any such payment, to the extent that a beneficiary or settlor with respect to such fiduciary, a member of such a partnership or the beneficial owner of such payment would not have been entitled to the
Additional Amounts had such beneficiary, settlor, member or beneficial owner been the Holder of such Note; 
 (vi) of any
tax, duty, assessment or other governmental charge imposed on a payment to an individual and required to be made pursuant to European Council Directive 2003/48/EC on the taxation of savings income or any other directive implementing the conclusions
of the ECOFIN Council meetings of November 26 and 27, 2000, December 13, 2001, and January 21, 2003, or any law or agreement implementing or complying with, or introduced in order to conform to, such a directive; and 

(vii) any combination of the items in Clauses (i) through (vi) above. 

For purposes of the provisions described in Clause (i) above, the term “Holder” of any Note means the direct nominee of any
beneficial owner of such Note, which holds such beneficial owner’s interest in such Note. Notwithstanding the foregoing, the limitations on the Company’s obligation to pay Additional Amounts set forth in Clause (i)(B) above shall not apply
if (a) the provision of information, documentation or other evidence described in such Clause (i)(B) would be materially more onerous, in form, in procedure or in the substance of information disclosed, to a Holder or beneficial owner of a Note
(taking into account any relevant differences between U.S. and Mexican law, regulation or administrative practice) than comparable information or other reporting requirements imposed under U.S. tax law (including the United States—Mexico Income
Tax Treaty), regulations (including proposed regulations) and administrative practice or (b) Rule I.3.17.11 (or any successor provision) is in effect, unless the provision of the information, documentation or other evidence described in such
Clause (i)(B) is expressly required by statute, regulation, rule or administrative practice in order to apply Rule I.3.17.11 (or any successor provision) and the Company cannot obtain such information, documentation or other

  
 5 

 
evidence on its own through reasonable diligence and the Company otherwise would meet the requirements for application of Rule I.3.17.11 (or any successor provision). In addition, such Clause
(i)(B) shall not be construed to require that a non-Mexican pension or retirement fund or a non-Mexican financial institution or any other Person register with the
Ministry of Finance and Public Credit for the purpose of establishing eligibility for an exemption from or reduction of Mexican withholding tax. 

The Company shall provide the Trustee with the constancia or other relevant documentation, if any (which may consist of certified
copies of such documentation), satisfactory to the Trustee evidencing the payment of Mexican Taxes in respect of which the Company has paid any Additional Amounts. Copies of such documentation shall be made available to the Holders of the Notes or
any Paying Agent, as applicable, upon request therefor. 
 The Company shall pay all stamp, issue, registration, documentary or other
similar duties, if any, which may be imposed by Mexico or any governmental entity or political subdivision therein or thereof, or any taxing authority of or in any of the foregoing, with respect to the Indenture or the issuance of the Notes. 

All references herein and in the Indenture to principal, premium, if any, interest or any other amount payable in respect of any Note shall be
deemed to include all Additional Amounts, if any, payable in respect of such principal, premium, interest or other amount payable, unless the context otherwise requires, and express mention of the payment of Additional Amounts in any provision
hereof shall not be construed as excluding reference to Additional Amounts in those provisions hereof where such express mention is not made. 

In the event that Additional Amounts actually paid with respect to the Notes pursuant to the preceding paragraphs are based on rates of
deduction or withholding of withholding taxes in excess of the appropriate rate applicable to the Holder of such Notes, and, as a result thereof such Holder is entitled to make claim for a refund or credit of such excess from the authority imposing
such withholding tax, then such Holder shall, by accepting such Notes, be deemed to have assigned and transferred all right, title, and interest to any such claim for a refund or credit of such excess to the Company. However, by making such
assignment, the Holder makes no representation or warranty that the Company will be entitled to receive such claim for a refund or credit and incurs no other obligation with respect thereto. 

All references herein and in the Indenture to principal in respect of any Note shall be deemed to mean and include any Redemption Price
payable in respect of such Note pursuant to any redemption right hereunder (and all such references to the Stated Maturity of the principal in respect of any Note shall be deemed to mean and include the Redemption Date with respect to any such
Redemption Price), and all such references to principal, premium, interest or Additional Amounts shall be deemed to mean and include any amount payable in respect hereof pursuant to Section 1009 of the Base Indenture. 

The Company may, at its option, redeem the Notes upon not less than 30 nor more than 60 days’ notice, at any time, in whole but not in
part, at a Redemption Price equal to the sum of (A) 100% of the principal amount of the Notes being redeemed, (B) accrued and unpaid interest thereon to the Redemption Date and (C) any Additional Amounts which would otherwise be
payable thereon up to but not including the Redemption Date, solely if, as a result of any amendment to, or change in, the laws (or any rules or regulations thereunder) of Mexico or any political subdivision or taxing authority thereof or therein
affecting taxation or any amendment to or change in an official interpretation or application of such laws, rules or regulations, which amendment to or change in such laws, rules or regulations becomes effective on or after September 12, 2013,
the Company would be obligated, after making reasonable endeavors to avoid such requirement, to pay Additional Amounts in excess of the Additional Amounts that the Company would be obligated to pay if payments made on the Notes were subject to
withholding 

  
 6 

 
or deduction of Mexican Taxes at the rate of 4.9%; provided, however, that (1) no notice of redemption may be given earlier than 90 days prior to the earliest date on which the
Company would be obligated to pay such Additional Amounts if a payment on the Notes were then due and (2) at the time such notice of redemption is given, the Company’s obligation to pay such Additional Amounts remains in effect. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company, on the one hand, and the rights of the Holders of the Notes, on the other hand, at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Notes at the time Outstanding. The
Indenture also contains provisions (1) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the Company with certain provisions of the
Indenture and (2) permitting the Holders of a majority in principal amount of the Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive certain past defaults under the Indenture and their consequences. Any such consent
or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note. 
 As provided in and subject to the provisions of the Indenture, the Holder of
this Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written
notice of a continuing Event of Default with respect to the Notes, the Holders of not less than 25% in principal amount of the Notes at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such
Event of Default as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Notes at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Note for the enforcement of
any payment of principal hereof or premium, if any, and/or interest hereon on or after the respective due dates expressed herein. 
 No
reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and premium, if any, and interest on this Note at
the times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture, and subject to certain
limitations therein set forth (including, without limitation, the restrictions on transfer under Section 304 of the Base Indenture), the transfer of this Note is registrable in the Security Register, upon surrender of this Note for registration
of transfer at the office of the Trustee or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to
the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate
principal amount, shall be issued to the designated transferee or transferees. 
 The Notes are issuable only in registered form without
coupons in denominations of U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof. As provided in the Indenture, and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of
Notes of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

  
 7 

 No service charge shall be made for any such registration of transfer or exchange, but the
Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or of the Trustee
may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note is overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Note is a Global Note and is subject to the provisions of the Indenture relating to Global Notes, including the limitations in
Section 304 of the Base Indenture on transfers and exchanges of Global Notes. 
 This Note and the Indenture shall be governed by, and
construed in accordance with, the law of the State of New York. 
 All terms used in this Note which are defined in the Indenture shall have
the meanings assigned to them in the Indenture. 
  

 
 ABBREVIATIONS

 The following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written out in
full according to applicable laws or regulations: 
  

					
	 TEN COM -
	 	 as tenants in common
	  	UNIF GIFT MIN ACT —
                                         
   
		 		  	                                      
                  (Cust)
			
	 TEN ENT -
	 	 as tenants by the entireties
	  	Custodian                                 under
Uniform
		 		  	                            (Minor)
			
	 JT TEN -
	 	 as joint tenants with right of survivorship and not as tenants in common
	  	Gifts to Minors Act
                                         
               
		 		  	                                      
                  (State)

 Additional abbreviations may also be used 

though not in the above list. 
  

 

  
 8 

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The following increases or decreases in this Global Note have been made: 

 

									
	 Date of transfer

or exchange
	 	 Amount of decrease

in principal amount
 of this Global
Note
	 	 Amount of increase

in principal amount
 of this Global
Note
	 	 Principal amount of

this Global Note
 following such

decrease or increase
	 	 Signature of

authorized signatory
 of Trustee
or
 Security Registrar

		 		 		 		 	

  
 9EX-10.75

 Exhibit 10.75 

GAS SALE AND PURCHASE AGREEMENT 

BETWEEN 
 HILCORP
ALASKA, LLC 
 AND 

CHUGACH ELECTRIC ASSOCIATION, INC. 

CEA-13 
 Effective Date:
July 1, 2013 
 Delivery Commencement Date: January 1, 2015 

Termination Date: March 31, 2018 

 GAS SALE AND PURCHASE AGREEMENT 

TABLE OF CONTENTS 
  

							
	SECTION	  	PAGE	 
		
	PREAMBLE	  	 	1	  
		
	RECITALS	  	 	3	  
		
	AGREEMENT	  	 	3	  
			
	l.	 	 DEFINITIONS & INTERPRETATION
	  	 	3	  
			
	2.	 	 GAS SALES
	  	 	11	  
			
	3.	 	 DELIVERY POINT; TITLE; LIABILITY AND RISK OF LOSS
	  	 	18	  
			
	4.	 	 TERM
	  	 	19	  
			
	5.	 	 MEASUREMENT
	  	 	19	  
			
	6.	 	 QUALITY
	  	 	21	  
			
	7.	 	 SALES PRICE; COST ALLOCATION; STATE’S ROYALTY SHARE
	  	 	21	  
			
	8.	 	 INVOICING AND ASSURANCES
	  	 	23	  
			
	9.	 	 WARRANTY OF TITLE
	  	 	25	  
			
	10.	 	 FORCE MAJEURE
	  	 	25	  
			
	11.	 	 REGULATORY COMMISSION OF ALASKA
	  	 	26	  
			
	12.	 	 INDEMNIFICATION
	  	 	27	  
			
	13.	 	 NOTICES
	  	 	27	  
			
	14.	 	 GOVERNING LAW AND RESOLUTION OF DISPUTES
	  	 	29	  
			
	15.	 	 MISCELLANEOUS
	  	 	32	  
		
	SIGNATURES	  	 	35	  
		
	EXHIBIT A: Map of Cook Inlet Area	  	 	36	  
		
	EXHIBIT B: Delivery Points and Delivery Point Meters	  	 	37	  
		
	EXHIBIT C: Gas Quality Specifications	  	 	39	  

  

			
	Hilcorp Alaska, LLC, and Chugach Electric Association, Inc.	  	
	Gas Sale and Purchase Agreement effective July 1, 2013 – Execution Final	  	Page 2 of 39

 GAS SALE AND PURCHASE AGREEMENT 

This GAS SALE AND PURCHASE AGREEMENT (“Agreement”) is made by Hilcorp Alaska, LLC (“Seller”), a Delaware limited liability company, with
offices located at 3800 Centerpoint Drive, Suite 100, Anchorage, Alaska 99503-5826, and Chugach Electric Association, Inc. (“Buyer”), an Alaska nonprofit electric cooperative corporation, with offices located at 5601 Electron Drive,
Anchorage, Alaska 99518-1074, collectively referred to as “Parties” and individually as “Party,” dated as of July 1, 2013 (the “Effective Date”). 

RECITALS 
  

	A.	Seller owns, controls, or has the right to dispose of Natural Gas produced from lands located in the Cook Inlet Area of Alaska. 

  

	B.	Seller has acquired substantially all of Marathon’s assets in the Cook Inlet Area. In connection with this transaction, the State of Alaska and Seller entered into a Consent Decree dated November 7, 2012,
which was approved by the Superior Court on January 17, 2013, in Case No. 3AN-12-10858 CIV (“Consent Decree”). The Consent Decree imposes certain terms under which Seller must market its gas produced in the Cook Inlet Area
through December 31, 2017. 

  

	C.	Buyer is a public utility that holds Certificate of Public Convenience and Necessity No. 8 from the RCA. Buyer provides retail electricity in a service territory which extends from Anchorage to the northern Kenai
Peninsula, and from Whittier on Prince William Sound to Tyonek on the west side of Cook Inlet. Buyer also provides wholesale and economy energy sales to other Alaska utilities. Buyer desires to purchase Gas for use in Buyer’s business
including, without limitation, generating electricity for sale to Buyer’s retail, wholesale and economy energy customers. 

  

	D.	Seller wishes to sell Gas to Buyer on a Firm basis for four Contract Years. 

  

	E.	In addition to Firm Gas, Buyer may desire to purchase Gas for the purpose of handling short-term extraordinary or emergency Gas supply needs of Buyer. Any such purchase of Gas must comply with the Consent Decree and
this Agreement. 

  

	F.	Seller and Buyer adopt the terms and conditions set forth herein to govern this transaction. 

 AGREEMENT

  

	1.	DEFINITIONS & INTERPRETATION. 

  

	 	1.1	Definitions. The following definitions apply to this Agreement: 

 “1988 Marathon
– APL GSA” means the Gas Purchase Agreement between Marathon Oil Company and Alaska Pipeline Company dated May 1, 1988, and approved by the RCA in Docket No. U-88-49, as amended. 

  

			
	Hilcorp Alaska, LLC, and Chugach Electric Association, Inc.	  	
	Gas Sale and Purchase Agreement effective July 1, 2013 – Execution Final	  	Page 3 of 39

 “2000 Union Oil – APL GSA” means the Gas Sales Agreement between Union Oil
Company of California and Alaska Pipeline Company, dated November 17, 2000, and approved by the RCA in Docket No. U-01-7, as amended. 

“ACH” has the meaning set forth in Section 8.2. 

“Agreement” has the meaning set forth in the Preamble. 

“Alaska Clock Time” or “ACT” means Alaska Daylight Savings Time when Daylight Savings Time is in effect and Alaska
Standard Time when Daylight Saving Time is not in effect. 
 “Annual Contract Quantity” means the volume of Gas required to be
delivered and sold by Seller and received and purchased by Buyer during a Contract Year during the Term of this Agreement as set forth in Section 2.3. 

“Arbitration Act” has the meaning set forth in Section 14.1. 

“Average Daily Contract Quantity” means the average volume of Gas which would be sold and purchased on any given Day during a
Contract Year if the applicable Annual Contract Quantity were delivered evenly on each Day throughout the Contract Year. The Average Daily Contract Quantity is reduced by 4.2% for the Day on which local time changes from Standard Time to Daylight
Savings Time and increased by 4.2% for the Day on which local time changes from Daylight Savings Time to Standard Time. 
 “Base Load
Gas” means the volume of Gas delivered on a Day of the Contract Year which is equal to or less than Average Daily Contract Quantity. 

“Base Load Gas Charge” means the Monthly charge for Base Load Gas calculated pursuant to Section 7.1. 

“BTU” means British Thermal Unit which is the amount of energy needed to heat one pound of water by one degree Fahrenheit. 

“Business Day” means a Day on which Buyer’s offices at 5601 Electron Drive, Anchorage, Alaska, are open for retail business.

 “Buyer” has the meaning set forth in the Preamble. 

“Category” means the nature of the Gas sold and purchased under this Agreement. The Categories are Base Load Gas, Swing Load Gas,
and Emergency Load Gas. 

  

			
	Hilcorp Alaska, LLC, and Chugach Electric Association, Inc.	  	
	Gas Sale and Purchase Agreement effective July 1, 2013 – Execution Final	  	Page 4 of 39

 “CINGSA” means the Natural Gas storage facility owned and operated by Cook Inlet
Natural Gas Storage Alaska, LLC. 
 “CINGSA Gas Substitution” has the meaning set forth in Section 2.4. 

“Claim” means a claim, suit, liability, loss, demand, damages or cause of action by a third party for physical damage to property,
bodily injury or death (including recoverable legal counsel fees and costs of litigation of the party asserting the Claim) arising from the physical operations of a Party, whether based in contract, tort, strict liability or otherwise.
“Claim” does not include a claim based upon, arising from or related to the failure or refusal of Seller to deliver Gas or the failure or refusal of Buyer to receive Gas under this Agreement, for which the sole recourse and remedy is set
forth in Section 2.4. 
 “Consent Decree” has the meaning set forth in Recital B. 

“Continuous Rate” means a continuous rate of Gas delivery without significant deviation, which rate shall be calculated by dividing
the volume per Day by 24 hours. For example, a rate of 3 MMcfpd will be delivered at a Continuous Rate of approximately 125 Mcf per hour without significant deviation. 

“Contract Year” means a period beginning on January 1 at 00:00 a.m. and ending on the following December 31 at 24:00 p.m.

 “Cook Inlet Area” means that region of Alaska bordered in red on the map which comprises Exhibit A. 

“Cook Inlet Gas Distribution System” means the system of Gas transmission and distribution pipelines located in and around the Cook
Inlet Area including pipelines owned by Alaska Pipeline Company and Hilcorp Alaska, LLC. 
 “Cover,” as referred to in
Section 2.4, means Buyer’s commercially reasonable efforts to obtain replacement Gas (or an alternate fuel if elected by Buyer and replacement Gas is not available), at a price reasonable for the Cook Inlet Area consistent with the amount
of notice provided by the Seller, the immediacy of the Buyer’s Gas consumption needs, the quantities involved, and the anticipated length of the nonperformance by Seller. 

“Daily Contract Quantity” means the volume of Gas required to be delivered by Seller and received by Buyer on a Day during the Term
of this Agreement as set forth in Sections 2.3(B) and 2.3(C). “Daily Contract Quantity” does not include Emergency Load Gas. 

“Day” means a 24-hour calendar day beginning at 00:00 hours and ending at 24:00 hours ACT. “Day” includes the 23-hour
calendar day when local time changes from Alaska Standard Time to Alaska Daylight Savings Time and the 25-hour calendar day when local time changes from Alaska Daylight Savings Time to Alaska Standard Time. 

  

			
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 “Daylight Savings Time” means the advancement of timekeeping clocks forward one hour
from Standard Time near the start of spring pursuant to the Uniform Time Act of 1966, Pub. L. 89-387, 80 Stat. 107, 15 U.S.C. §§ 260-64, as amended, as administered by the US Department of Transportation. 

“Delivery Point” has the meaning set forth in Section 3.1. 

“Delivery Point Meter” has the meaning set forth in Section 3.1. 

“Delivery Shortfall Volume” has the meaning set forth in Section 2.4. 

“Dispute” means any dispute or controversy between the Parties arising out of this Agreement and any dispute or controversy
regarding the existence, construction, validity, interpretation, enforceability, or breach of this Agreement. 
 “Effective Date”
has the meaning set forth in the Preamble. 
 “Emergency Gas Transaction” means an individual agreement to sell and purchase
Emergency Load Gas reached by the Parties pursuant to Section 2.3(D). 
 “Emergency Load Gas” means Gas sold to Buyer in
excess of the Base Load Gas and Swing Load Gas sold by Seller to Buyer to meet the short-term (one-Month or less) extraordinary or emergency gas supply needs of Buyer. 

“Emergency Load Gas Charge” means the Monthly charge for Emergency Load Gas calculated pursuant to Section 7.1. 

“Engineer” means an independent, registered professional petroleum engineer from the firm then currently engaged by Seller to
provide the reserve reports to Seller respecting Seller’s oil and gas properties in Alaska or from another firm agreed to by Buyer and Seller. 

“Excess Royalties” means royalties (including interest and penalties thereon) in excess of those payable on the sale of the gas at
the Sales Price due to a value attributed to the Gas under the applicable oil and gas lease which is higher than the contract price. “Excess Royalties” do not include royalties, interest or penalties thereon which are determined after
audit to be due on the sale of the Gas at the Sales Price. 
 “Excess Taxes” means taxes (including interest and penalties
thereon) in excess of those payable under tax law as of December 31, 2012, on the production or severance of the Gas or the sale of Gas at the Sales Price. “Excess Taxes” do not include taxes, interest or penalties thereon which are
determined after audit to be due under tax law as of December 31, 2012, on the production or severance of the Gas or the sale of the Gas at the Sales Price. 

  

			
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 “Field Operations Gas” means Gas Seller determines, in its sole and unfettered
discretion, is necessary or desirable for Seller’s use for field operations and maintenance, gas dehydration, gas treatment and other field use. 

“Firm” means that a Party may interrupt its performance without liability only to the extent that such performance is excused or
permitted by the terms of this Agreement. 
 “Force Majeure Event” has the meaning set forth in Section 10.2. 

“Gas” or “Natural Gas” means any mixture of hydrocarbons or of hydrocarbons and noncombustible gases, in a gaseous state
consisting primarily of methane and meeting the quality specifications of Section 6.1 or 6.2, as applicable. 
 “Gas
Reserves” shall mean the total quantity of Seller’s proved developed reserves, Seller’s proved undeveloped reserves, and a reasonable percentage of Seller’s probable reserves as determined in accordance with sound petroleum
reservoir engineering practices. 
 “Gas Sale and Purchase Commitment” means the quantity of Gas that will be sold and delivered
and purchased and received under this Agreement in accordance with Sections 2.3 and 2.4. 
 “Imbalance Volume” means the
adjustment of the volume of Gas to be delivered by Seller and received by Buyer hereunder to correct for previous Incidental Deviations. 

“Incidental Deviations” means the unintended differences between the Daily Contract Quantity for a Day delivered at a Continuous
Rate and the actual deliveries and receipts made on that Day which arise from the ordinary operations of the Cook Inlet Gas Distribution System. Deviations greater than 3% are not Incidental Deviations. 

“Liquefied Natural Gas” and “LNG” mean Gas condensed into a liquid by cooling it to approximately –260 °F. 

“Major Adjustment Request” has the meaning set forth in Section 2.3(A)(3). 

“Mcf,” “MMcf” and “Bcf” mean thousand Standard Cubic Feet, Million Standard Cubic Feet, and Billion Standard
Cubic Feet, respectively. 
 “MMcfpd” or “MMcfd” means MMcf delivered at a Continuous Rate for 24 hours during a Day.

  

			
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 “Minor Adjustment Notice” has the meaning set forth in Section 2.3(A)(2). 

“Month” means a period beginning at 00:00 hours ACT on the first Day of a calendar month and ending at 24:00 hours ACT on the last
Day of that calendar month. 
 “Monthly Contract Quantity” has the meaning set forth in Section 2.3(C). 

“Monthly Delivered Quantity” means the actual volume of Gas Seller delivered and Buyer received during the applicable Month. 

“Operational Notice” means a notice given as provided in Section 13.2. 

“Permitted Delivery Range” has the meaning set forth in Section 2.3(C)(2)(b). 

“RCA” means the Regulatory Commission of Alaska including its predecessor the Alaska Public Utilities Commission, and any other
entity succeeding to any of its functions, in each case as the context requires. 
 “RCA Approval” has the meaning set forth in
Section 11.3. 
 “Regular Notice” means a notice given as provided in Section 13.1. 

“Sales Price” has the meaning set forth in Section 7.1. 

“Seller” has the meaning set forth in the preamble. 

“Seller’s Remedy” has the meaning set forth in Section 2.4. 

“Standard Cubic Foot” means the amount of Gas that would occupy a volume of one cubic foot at a temperature of sixty degrees
Fahrenheit (60° F.) and at a pressure of fourteen and sixty five hundredths (14.65) pounds per square inch absolute. 

“Standard Time” means the time of Day without the offset for Daylight Savings Time. 

“Swing Load Gas” means Gas sold to Buyer on any given Day in excess of the Base Load Gas sold to Buyer on such Day, as determined in
accordance with Section 7.1(B)(2). “Swing Load Gas” does not include Emergency Load Gas. 
 “Swing Load Gas Charge”
means the Monthly charge for Swing Load Gas calculated pursuant to Section 7.1. 
 “Tariffs” means the tariffs of a utility
or pipeline regulated by the RCA which tariffs have been approved by the RCA and are currently in effect. 

  

			
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 “Term” has the meaning set forth in Section 4.1. 

“Termination Date” means March 31, 2018. 

“Termination Event” has the meaning set forth in Section 4.2. 

“Transportation Costs” means charges imposed to move Gas sold under this Agreement on pipeline carrier or public utility pipelines
pursuant to RCA-approved tariff rates and conditions. 
 “Year” means a calendar year. 

 

	 	1.2	Principles of Construction. In this Agreement, unless the context otherwise requires: 

  

	 	(A)	This Agreement is the entire agreement between the Parties respecting the subject matter hereof. 

  

	 	(B)	Headings and the rendering of text in bold and/or italics are for convenience only and do not affect the interpretation of this Agreement. 

 

	 	(C)	Words importing the singular include the plural and vice versa and the masculine, feminine and neuter genders include all genders. 

  

	 	(D)	The words “hereof”, “herein”, and “hereunder” and words of similar import shall refer to this Agreement as a whole and not to any particular provision of this Agreement. 

 

	 	(E)	A reference to a Section, paragraph, clause, Party, Exhibit or Schedule is a reference to that Section, paragraph, clause of, or that Party, Exhibit or Schedule to, this Agreement unless otherwise specified, and in the
event of a conflict, the provisions of the main body of this Agreement shall prevail over the provisions of any Exhibit or Schedule. 

  

	 	(F)	A reference to this Agreement shall mean this Agreement including any amendment or supplement to, or replacement, novation or modification of this Agreement, but disregarding any amendment, supplement, replacement,
novation or modification made in breach of this Agreement. 

  

	 	(G)	A reference to a person or entity includes that person or entity’s successors and permitted assigns. 

  

	 	(H)	The term “including” means “including without limitation” and any list of examples following such term shall in no way restrict or limit the generality of the word or provision in respect of which
such examples are provided. 

  

			
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	 	(I)	References to any statute, code or statutory provision are to be construed as a reference to the same as it may have been, or may from time to time be, amended, modified or reenacted, and include references to all
bylaws, instruments, orders and regulations for the time being made thereunder or deriving validity therefrom. 

  

	 	(J)	Each Party acknowledges and agrees that it has participated in the drafting of this Agreement and has had the opportunity to consult with legal counsel and any other advisors of its choice to its satisfaction regarding
the terms and provisions of this Agreement and the results thereof. As a result, the rule of construction that an agreement be construed against the drafter will not be asserted or applied to this Agreement. 

 

	 	(K)	All accounting terms not specifically defined herein shall be construed in accordance with GAAP. 

  

	 	(L)	In the event of a conflict, a mathematical formula describing a concept or defining a term shall prevail over words describing a concept or defining a term. 

 

	 	(M)	References to any amount of money shall mean a reference to the amount in US Dollars. 

  

	 	(N)	The expression “and/or” when used as a conjunction shall connote “any or all of”. 

  

	 	(O)	Words, phrases or expressions which are not defined herein and which have a generally accepted meaning in the industry which is the subject of this Agreement shall have that meaning in this Agreement. 

 

	 	(P)	A waiver by either Party of any breach of the covenants and conditions to be performed under this Agreement by the other Party shall not be construed as a waiver of any succeeding breach of the same or any other
covenant or condition. 

  

	 	(Q)	Except as otherwise expressly provided in this Agreement, no amendments to or modifications of this Agreement shall be valid unless they are in writing and signed by the Parties. 

  

			
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	 	1.3	Exhibits. 

  

	 	(A)	All of the Exhibits that are attached to the body of this Agreement are an integral part of this Agreement and are incorporated by reference into this Agreement, including: 

 

	 	(1)	Exhibit A – Map of the Cook Inlet Area 

  

	 	(2)	Exhibit B – Delivery Points 

  

	 	(3)	Exhibit C – Gas Quality Specifications 

  

	 	(B)	If a conflict exists between the body of this Agreement and the Exhibits, the body prevails to the extent of the conflict. 

  

	2.	GAS SALES. 

  

	 	2.1	Gas Sales Commitment; Limitation on Gas Use or Resale. 

  

	 	(A)	Subject to all of the terms and conditions of this Agreement, Seller commits to deliver and sell to Buyer, and Buyer commits to receive and purchase from Seller, the Natural Gas volumes and rates set forth in this
Section 2. 

  

	 	(B)	Buyer may not resell Gas purchased under this Agreement for LNG export to foreign nations, nor may Buyer resell Gas purchased under this Agreement to a third party for resale for LNG export to foreign nations.

  

	 	2.2	Commitment Priorities. Seller may cease or curtail deliveries under this Agreement without liability to Buyer to assure a sufficient supply of Field Operations Gas or solely to meet Seller’s commitments as
follows: 

  

	 	(A)	Pursuant to the 1988 Marathon – APL GSA, if it is at any time determined that Seller’s Available Gas Reserves (as defined therein) are insufficient to permit it to make deliveries under this Agreement and meet
its obligations to Alaska Pipeline Company under the 1988 Marathon – APL GSA, Gas deliveries under this Agreement may be reduced or terminated by Seller in its sole discretion. Seller’s Available Gas Reserves will be determined in
accordance with the provisions of the 1988 Marathon – APL GSA. 

  

	 	(B)	Pursuant to the 2000 Union Oil – APL GSA, Alaska Pipeline Company has first call on Seller’s Gas delivered into the Cook Inlet Area necessary to meet Seller’s commitments in that agreement.

  

			
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	 	2.3	Gas Sale and Purchase Commitment. Unless Seller and Buyer otherwise agree in a writing signed by both Parties, the Gas Sale and Purchase Commitment under this Agreement shall be as set forth below.

  

	 	(A)	Annual Contract Quantity: 

  

	 	(1)	The Annual Contract Quantities under this Agreement are as follows: 

  

					
	 Contract Year
	  	 Dates
	  	 Annual Contract
Quantity

(MMcf)

			
	 1
	  	01/01/15 through 12/31/15	  	2,427.25
			
	 2
	  	01/01/16 through 12/31/16	  	5,215.50
			
	 3
	  	01/01/17 through 12/31/17	  	7,975.25
			
	 4
	  	01/01/18 through 03/31/18	  	2,009.25

  

	 	(2)	By notice to Seller on or before any October 1 during the Term, Buyer may require an adjustment of not more than five percent (5%) to the Annual Contract Quantity for the then-succeeding Contract Year (each, a
“Minor Adjustment Notice”). If Buyer provides such a Minor Adjustment Notice, then the applicable Annual Contract Quantity, and the related Average Daily Contract Quantity and Monthly Contract Quantities applicable to such Contract Year
(each determined as set forth herein), shall be adjusted as described in the Minor Adjustment Notice. Buyer may not provide a Minor Adjustment Notice which reduces the Annual Contract Quantity for the purpose of buying the amount by which the Annual
Contract Quantity was reduced from a third party. If Buyer later determines Buyer needs to purchase all or a portion of the volumes reduced by a Minor Adjustment Notice, Buyer shall provide Seller reasonable notice and the option to supply those
volumes to Buyer pursuant to the terms of this Agreement. 

  

	 	(3)	 By notice to Seller on or before any October 1 during the Term, Buyer may request adjustments in the Annual Contract Quantity in excess of five
percent (5%) for the then-succeeding Contract Year (each, a “Major Adjustment Request”). Seller shall consider each Major Adjustment Request in good faith, and, if mutually agreed the Parties shall execute a document setting forth the
revisions to the applicable Annual Contract Quantity, and the related Average Daily Contract Quantity and Monthly Contract Quantities (each determined as set forth herein). Buyer may not provide a Major Adjustment Request which reduces the Annual
Contract Quantity for the purpose of buying the amount by which the Annual Contract Quantity was reduced from a third party. If Buyer later determines Buyer needs to purchase all or a portion of the volumes reduced by the agreement of the Parties
after Buyer issues a Major 

  

			
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Adjustment Request, Buyer shall provide Seller reasonable notice and the option to supply those volumes to Buyer pursuant to the terms of this Agreement. 

 

	 	(B)	Average Daily Contract Quantity: The Average Daily Contract Quantity during each Contract Year shall be as set forth in the following chart: 

 

					
	 Contract Year
	  	 Dates
	  	 Average Daily Contract

Quantity

(MMcfd)

			
	 1
	  	01/01/15 through 12/31/15	  	6.650
			
	 2
	  	01/01/16 through 12/31/16	  	14.250
			
	 3
	  	01/01/17 through 12/31/17	  	21.850
			
	 4
	  	01/01/18 through 03/31/18	  	22.325

  

	 	(C)	Daily and Monthly Obligations: 

  

	 	(1)	Daily Contract Quantity. 

  

	 	(a)	The Daily Contract Quantity is the Average Daily Contract Quantity set forth in the chart in Section 2.3(B). Seller will make available to the Buyer a volume of Gas on each Day of the Term up to 103% of the
applicable Daily Contract Quantity for such Day, on a Firm basis and according to Buyer’s nominations and schedules provided to and worked out with Seller in accordance with Sections 2.5 and 2.6, and otherwise in accordance with this Agreement.

  

	 	(b)	Buyer may request that Seller deliver a higher volume of Gas on a given Day or Days, and Seller shall inform Buyer whether Seller agrees to deliver such a higher volume of Gas. All such additional volumes are
interruptible by either Party unless otherwise agreed. 

  

	 	(2)	Monthly Contract Quantity. 

  

	 	(a)	The “Monthly Contract Quantity” is the sum of the Daily Contract Quantities for the applicable Month. Buyer will purchase and receive from Seller the Monthly Contract Quantity on a Firm basis.

  

	 	(b)	 The Parties understand that the Cook Inlet Gas Distribution System is currently unable to delivery precisely the

  

			
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nominated amount of Gas on any given Day. The mutual intent of the Parties is to work toward assuring that the Monthly Delivered Quantity for a given Month is within three percent (3%) of
the Monthly Contract Quantity for such Month, and that the delivered volume of Gas for each Contract Year is within three percent (3%) of the Monthly Contract Quantity (assuming a 30-Day Month within such Contract Year) for the applicable
Contract Year (“Permitted Delivery Range”). 

  

	 	(D)	Emergency Load Gas: 

  

	 	(1)	The purpose of this Section 2.3(D) is to facilitate the delivery of Gas from Seller to Buyer on relatively short notice when such Gas is required to meet the short-term extraordinary or emergency gas needs of the
Buyer. No single Emergency Gas Transaction shall be for a period in excess of thirty (30) Days. All notices made pursuant to this Section 2.3(D) will be given as Operational Notices. 

 

	 	(2)	At any time during the term, Buyer may notify Seller that it has an extraordinary or emergency Gas supply need and request a specific volume or volumes of Emergency Load Gas to be delivered. In the notice, the Buyer
must specify the nature and anticipated duration of the extraordinary or emergency situation which forms the basis of the request for additional Gas. Seller shall promptly respond to the request indicating what Emergency Load Gas, if any, it will
make available to Buyer. The Parties will then negotiate toward an Emergency Gas Transaction, but neither Party is obligated to agree to an Emergency Gas Transaction and either Party may refuse to do so for any reason or no reason.

  

	 	(3)	If the Parties agree to an Emergency Gas Transaction, they shall memorialize the agreement by an exchange of emails. The Parties will also confirm the commencement and termination of all sales and purchases of Gas, the
Continuous Rate, the Delivery Point and any modifications of the Continuous Rate by email exchange within a reasonable time after the applicable Operational Notice. Buyer shall promptly inform Seller when the extraordinary or emergency situation has
been resolved. Sales of Emergency Load Gas shall cease as soon as practical after the resolution of the extraordinary or emergency situation. 

  

	 	(4)	Volumes of Gas sold pursuant to Emergency Gas Transactions shall not be included in the Annual Contract Quantity or Daily Contract Quantity and shall not be included in the calculations of Base Load Gas and Swing Load
Gas. 

  

			
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	 	2.4	Nature of Gas Sale and Purchase Commitment and Remedies 

  

	 	(A)	Buyer’s Remedies: 

  

	 	(1)	If Seller for any reason, including a Force Majeure Event or quality issues, does not deliver all of the applicable Daily Contract Quantity, or if Buyer because of Force Majeure Event, cannot take from Seller all of the
applicable Daily Contract Quantity, Buyer may make whatever purchases are necessary to replace the shortage. Buyer will in good faith attempt to purchase only the amount of Gas necessary to replace the shortage. Should any provision of this
Agreement constrain Buyer in such a way that Buyer cannot replace the shortage on reasonable terms and conditions, that provision (or provisions) shall be relaxed or waived but only to the extent necessary to permit Buyer to purchase its
requirements on reasonable terms and conditions. 

  

	 	(2)	Subject to Section 2.3(C)(2)(b), on any given Day, if Seller fails to deliver (or make available for delivery) up to 103% of the applicable Daily Contract Quantity as nominated and scheduled as provided in
Section 2.3(C)(1)(a) for such Day (“Nominated Volume”) and such failure is not excused or permitted under this Agreement, the difference between such Nominated Volume and the amount of Gas actually delivered (or made available for
delivery) that Day is called the “Delivery Shortfall Volume.” Buyer’s sole remedy with respect to such failure by Seller shall be Cover as provided below. 

 

	 	(a)	 Upon receiving notice or otherwise having actual knowledge of Seller’s delivery failure, Buyer shall attempt to replace the Delivery Shortfall
Volume via Cover. For the avoidance of doubt, Buyer, in its sole discretion, may choose to withdraw Gas stored by it or on its behalf in CINGSA (or any other storage facility), up to the Delivery Shortfall Volume (“CINGSA Gas
Substitution”), and in such circumstance Buyer shall attempt to replace the Gas representing such CINGSA Gas Substitution via Cover. Seller shall be responsible for, and shall pay Buyer: (i) for all volumes of Gas that Buyer replaces
through Cover, the positive difference, if any, between the average weighted purchase price paid by Buyer for such replacement Gas and the applicable Base Load Gas Price multiplied by the volume of such replacement Gas; plus (ii) with respect
to replacement Gas obtained in relation to a CINGSA Gas Substitution, a sum equal to (x) all costs to withdraw and transport the volumes represented by such CINGSA Gas 

  

			
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Substitution to Buyer’s facilities; plus (y) all costs to transport and inject replacement Gas obtained via Cover into CINGSA (or any other applicable Gas storage facility);
provided that the total maximum amount payable by Seller to Buyer under this Section 2.4(A)(2) shall be the Base Load Gas Price multiplied by the applicable Delivery Shortfall Volume. 

 

	 	(b)	To the extent the Delivery Shortfall Volume cannot be fully replaced through Cover, then Seller shall be responsible for, and shall pay Buyer, the applicable Base Load Gas Price times such portion of the Delivery
Shortfall Volume that could not be replaced through Cover. 

  

	 	(c)	In no event shall Seller be liable to Buyer under this Section 2.4(A)(2) for the payment of more than an amount equal to the Delivery Shortfall Volume multiplied by the then-current Sales Price for Base Load Gas,
whether or not all or a portion of the Delivery Shortfall Volume could be replaced by Cover. 

  

	 	(3)	Buyer shall provide to Seller all information necessary to calculate amounts due from Seller to Buyer (including volume, price, transportation and injection costs (if applicable), and delivery Day, as applicable) as
soon as practicable after acquiring replacement Gas through Cover. 

  

	 	(B)	Seller’s Remedy: Subject to Section 2.3(C)(2)(b), for any given Month, Buyer shall pay Seller for the Monthly Contract Quantity (reduced by the volume of the Monthly Contract Quantity Seller did not deliver or
Buyer did not receive, respectively, to the extent and only to the extent such non-delivery or non-receipt is excused or otherwise permitted under this Agreement) or the Monthly Delivered Quantity, whichever is greater (“Seller’s
Remedy”). 

  

	 	(C)	Neither Cover nor Seller’s Remedy applies to Incidental Deviations, the remedy for which is solely the adjustment through Imbalance Volumes. 

 

	 	(D)	 Neither Party shall be entitled to an award of, and hereby waives the right to recover, incidental, consequential, punitive, exemplary, or other
non-direct damages or any other damages from the other Party arising from or related to this Agreement, whether asserted by or awarded to such Party or any third party and whether based on contract, tort, strict liability or other claim or theory of
liability. The remedies listed in this Section 2.4 are the 

  

			
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sole and exclusive remedies for Buyer’s failure or refusal to receive Gas, or Seller’s failure or refusal to deliver Gas, where such failures or refusals are not excused or permitted
under this Agreement. 

  

	 	2.5	Delivery Rate and Scheduling. 

  

	 	(A)	Subject to Incidental Deviations, Seller shall deliver and Buyer shall receive Gas at a Continuous Rate calculated based on the Average Daily Contract Quantity applicable in a particular Contract Year.

  

	 	(B)	By 4:00 p.m. ACT, the Day before Buyer is to receive Gas from Seller, Buyer shall send Seller’s Gas Control Group an estimate of its hourly Gas needs for the next Day within the quantity provisions set forth in
Section 2.3. 

  

	 	(C)	Daily scheduling of Gas by gas controllers shall incorporate an Imbalance Volume. 

  

	 	(D)	Buyer’s Fuel Supply personnel work normal business hours from 08:00 AM to 17:00 PM Alaska Clock Time (“Normal Business Hours”). Buyer’s Fuel Supply personnel are on call outside of Normal Business
Hours for emergency response purposes. Seller and Buyer will use reasonable efforts to perform all gas scheduling and management activities during Normal Business Hours. 

 

	 	2.6	Communication and Rescheduling Undelivered Gas. 

  

	 	(A)	Buyer and Seller understand that this Agreement will require frequent communication and cooperation for proper scheduling and delivery of Gas. The acting Party will provide timely notice to the other Party when
(i) Buyer changes its receipt rate, (ii) Seller ceases or curtails deliveries or Buyer ceases or curtails receipts, or (iii) either Buyer or Seller incurs a Force Majeure Event. 

 

	 	(B)	Buyer and Seller will communicate and work in good faith to coordinate Gas deliveries and receipts with the other Party regarding anticipated shut-downs or curtailments, facility outages, maintenance and other scheduled
or irregular events which do not constitute Force Majeure Events. 

  

	 	(C)	By mutual agreement of the Parties confirmed by email or other writing, the Parties may reschedule Gas which will not be or has not been delivered and received as provided in Section 2.3, whether due to shut-downs
or curtailments, facility outages, maintenance and other scheduled or irregular events, due to Force Majeure Events, or otherwise as mutually agreed. 

  

			
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	 	2.7	Notices. 

  

	 	(A)	All Minor Adjustment Notices and Major Adjustment Requests shall be made by Regular Notices. All other requests and notices made pursuant to this Section 2 will be given as Operational Notices. 

 

	 	(B)	The Parties will document the commencement and termination of all sales and purchases of Gas, the Continuous Rate, the Delivery Point and any modifications of the Continuous Rate within a reasonable time after the
applicable Operational Notice. The transactional summaries will be tabulated by the Seller in a spreadsheet that will be provided to Buyer periodically or in response to a request. Delays in updating the spreadsheet shall not negate or otherwise
affect a sale of Natural Gas under this Agreement. 

  

	 	2.8	Gas Reserves Opinion and Development Plans. 

  

	 	(A)	No later than September 30, 2013, and then annually on or before March 31 thereafter during the Term, Seller shall deliver to Buyer an opinion letter from the Engineer regarding Seller’s Gas Reserves. The
Engineer’s fees and expenses shall be paid by Seller. The letter must be based on sound geologic, economic, and other data, and must be consistent with sound engineering principles. The letter must conclude that Seller’s Gas Reserves are
sufficient to meet Seller’s obligations to deliver the Annual Contract Quantity each Year during the then-remaining Term, assuming reasonable and prudent operations. 

 

	 	(B)	Seller shall make an oral presentation to Buyer outlining Seller’s Gas Reserves development plans in an annual meeting between the Parties which shall take place no later than April 30 beginning in 2014. Buyer
will take all reasonable steps to preserve the confidentiality of all information received by Buyer from Seller or disclosed by Seller to Buyer under this Section 2.8. 

 

	3.	DELIVERY POINTS; TITLE; LIABILITY AND RISK OF LOSS; PIPELINES. 

  

	 	3.1	Delivery Points. 

  

	 	(A)	Unless otherwise agreed between the Parties, the authorized delivery points are set forth in Exhibit B (“Delivery Points”) and the “Delivery Point Meters” listed thereunder. 

 

	 	(B)	Buyer may request Gas to be delivered at specific Delivery Point Meters and to otherwise minimize the costs payable by Buyer pursuant to Section 7.3, and Seller will work in good faith to honor such requests, in
each case within the limitations of Seller’s Gas production facilities, the requirements of Seller’s other Gas sales agreements and Seller’s ability to economically administer its business. 

 

	 	3.2	Title. Title to all Gas delivered by Seller and received by Buyer will pass at the Delivery Point Meters. All liability and risk associated with the Gas will follow title. 

  

			
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	4.	TERM. 

  

	 	4.1	Term. The term of this Agreement shall commence on the Effective Date, and unless sooner terminated under Section 4.2, end on the Termination Date (“Term”). 

 

	 	4.2	Termination Event Defined. Each of the following events is a “Termination Event”: (a) any Party makes an assignment for the benefit of creditors; (b) any Party defaults in its payment
obligations under this Agreement and does not resolve the default, as provided in Section 8; (c) any Party commences, authorizes, or acquiesces in the commencement of a proceeding under any bankruptcy, insolvency, or similar law, or has
such a proceeding commenced against it; or (d) any Party or any Party’s parent company becomes bankrupt or insolvent, or is unable to pay its debts when due. 

 

	 	4.3	Termination. If a Termination Event described in Section 4.2 occurs, the non-defaulting Party shall have the right to immediately withhold or suspend deliveries or payment, or terminate this Agreement.

  

	 	4.4	Reservations. Each Party reserves all claims, rights, setoffs, counterclaims, and other defenses to which it is entitled under this Agreement. 

 

	5.	MEASUREMENT. 

  

	 	5.1	Cook Inlet Gas Distribution System Measurement Standards. The measurement standards in effect on the applicable delivery pipelines of the Cook Inlet Gas Distribution System on the date of delivery will apply to
all Gas delivered under this Agreement. 

  

	 	5.2	Other Measurement Standards. The following provisions will apply with respect to Delivery Points that are not part of the Cook Inlet Gas Distribution System: 

 

	 	(A)	Seller shall, at its expense, provide continuous data showing Gas delivery rates for each such Delivery Point, if so requested by Buyer, when such Delivery Point is owned, maintained and operated by Seller. Seller shall
have the right to refuse to tender Gas for delivery to Buyer at any Delivery Point that is not operating properly or measuring volumes of Gas accurately; provided, that such refusal shall not alter Seller’s obligations to make available and
deliver Gas to Buyer under Section 2. 

  

			
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	 	(B)	If a meter at such a Delivery Point is out of service or registering inaccurately by a variation greater than one percent (1%), the volumes of Gas delivered shall be estimated: 

 

	 	(1)	by using the volumes registered by the check meter or meters of Seller, if installed and accurately registering, or 

  

	 	(2)	in the absence of estimation pursuant to clause (1), by correcting the error if the percentage of error is ascertainable by calibration, test or mathematical calculations, or 

 

	 	(3)	in the absence of estimation pursuant to both clause (1) and clause (2), then by estimating the quantity of deliveries based on deliveries during comparable periods under similar conditions when the meter was
registering accurately. 

  

	 	(C)	If any measuring equipment is found to be inaccurate by one percent (1%) or less, previous records of the equipment shall be considered accurate. If any measuring equipment is found to be inaccurate by more than
one percent (1%), any previous records of that equipment, any previous billings will be corrected to zero error for any period known definitely or agreed upon using the estimate obtained via Section 5.2(B) (1), (2) or (3) above (as
applicable). If a period of inaccuracy is not definitely known or agreed upon by the Parties, the correction shall be made for a period of one half ( 1⁄2) of
the time elapsed since the date of the last test of the meter. The correction shall fully settle all claims based on the inaccuracy. Any measuring equipment found by test to be inaccurate, even if such error is less than one percent (1%), will
immediately be adjusted or replaced, as appropriate, to measure accurately. 

  

	 	(D)	If Buyer notifies Seller that it desires to test the accuracy of a meter at such a Delivery Point, Seller will test the accuracy of the measuring equipment promptly after such notification. Buyer shall have the right to
witness the calibrating, adjusting and testing of the measuring equipment, at Buyer’s sole cost and expense. Seller shall, on reasonable request of Buyer, give its physical test and meter proving reports to Buyer. If there is a dispute about
any measurement, the Parties shall conduct a joint test that shall be dispositive. If the joint test reveals there is an error, Seller shall pay all costs associated with the joint test. If the joint test reveals there was no error then the Party
requesting such test shall pay all costs associated with the joint test. 

  

			
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	6.	QUALITY. 

  

	 	6.1	Cook Inlet Gas Distribution System Quality Standards. Seller warrants all Natural Gas delivered to the Delivery Point will be of a pressure, condition, and quality which meets the requirements of the pipeline
Tariff(s) applicable to the Delivery Points. 

  

	 	6.2	Other Quality Standards. With respect to Natural Gas delivered to Delivery Points that are not part of the Cook Inlet Gas Distribution System or do not otherwise have an applicable Tariff, Seller warrants that
all such Natural Gas will be of a pressure, condition, and quality that meets the Gas Quality Specifications set forth in Exhibit C. 

  

	 	6.3	Buyer Curtailment. Buyer may cease or curtail receipt of Gas delivered by Seller which does not satisfy the warranty requirements of Section 6.1 or 6.2, as applicable, and Buyer may invoke remedies available
to it pursuant to this Agreement, including under Section 2.4, with respect to all such Gas deliveries ceased or curtailed. 

  

	7.	SALES PRICE; COST ALLOCATION; STATE’S ROYALTY SHARE. 

  

	 	7.1	Sales Price and Monthly Calculation. 

  

	 	(A)	Sales Price: The “Sales Price” for Gas purchased and sold hereunder shall be as follows: 

  

													
	 Contract Year
	  	Base Load Gas Price
(Dollars per Mcf)	 	  	Swing Load Gas Price
(Dollars per Mcf)	 	  	Emergency Load Gas Price
(Dollars per Mcf)	 
	 1
	  	 	7.13	  	  	 	8.91	  	  	 	10.70	  
	 2
	  	 	7.42	  	  	 	9.28	  	  	 	11.13	  
	 3
	  	 	7.72	  	  	 	9.65	  	  	 	11.58	  
	 4
	  	 	8.03	  	  	 	10.04	  	  	 	12.04	  

  

	 	(B)	Monthly Calculation: The amount due from Buyer to Seller for Gas sales shall be calculated on a Monthly basis as follows: 

  

	 	(1)	Base Load Gas Charge: The Base Load Gas Charge shall be the Monthly Delivered Quantity, subject to a cap equal to the Monthly Contract Quantity and further subject to the provisions of Section 7.1(B)(2), times the
applicable Base Load Gas Price; provided that the Base Load Gas Charge shall include an appropriate amount representing Seller’s Remedy, if any, as calculated in accordance with Section 2.4(B). 

  

			
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	 	(2)	Swing Load Gas Charge: The Swing Load Gas Charge shall be the applicable Swing Load Gas Price times the positive difference between the Monthly Delivered Quantity and the Monthly Contract Quantity; provided, that
if the Monthly Delivered Quantity is within the Permitted Delivery Range, then the entire Monthly Delivered Quantity for such Month shall be billed at the Base Load Gas Price. 

 

	 	(3)	Emergency Load Gas Charge: The Emergency Load Gas Charge shall be the Emergency Load Gas volume Seller sold and delivered and Buyer purchased and received during the Month times the applicable Emergency Load Gas Price.

  

	 	7.2	Costs Allocated to Seller. Seller is responsible for the following costs relating to Gas sold or moved under this Agreement: 

  

	 	(A)	Gas development, production, separation, dehydration and other processing; 

  

	 	(B)	Facility construction, operation and maintenance; 

  

	 	(C)	Gas gathering, treatment and compression necessary to meet pipeline specifications and pressures; 

  

	 	(D)	Costs, other than Transportation Costs, to move Gas to a Delivery Point; 

  

	 	(E)	Lessor royalties, overriding royalties, production payments and other payments of any kind (other than taxes) due to third parties upon the production and sale of the Gas at the Sales Price, but not including Excess
Royalties; 

  

	 	(F)	Severance and/or production taxes at the tax rates and under the laws and rules in place on the Effective Date, but not including Excess Taxes; and 

 

	 	(G)	Charges and costs (other than Transportation Costs, which shall be allocated solely pursuant to Sections 7.2(D) and 7.3(C)) assessed by the applicable owner(s) of any portion of the Cook Inlet Gas Distribution System in
relation to Imbalance Volumes, to the extent that Seller is determined by such owner(s) to have been responsible for the underlying imbalance. 

  

			
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	 	7.3	Costs Allocated to Buyer: Buyer is responsible for the following costs relating to Gas sold under this Agreement: 

  

	 	(A)	Transportation Costs at, from and after delivery at a Delivery Point, including reimbursement of Transportation Costs paid initially by Seller if the Delivery Point Meter requested by Buyer requires Seller to incur
Transportation Costs; 

  

	 	(B)	Storage, facilities, equipment, operations, and maintenance costs after delivery at a Delivery Point; 

  

	 	(C)	Taxes imposed on the Gas or Buyer’s operations after a Delivery Point; 

  

	 	(D)	Excess Royalties; 

  

	 	(E)	Excess Taxes; and 

  

	 	(F)	Charges and costs (other than Transportation Costs, which shall be allocated solely pursuant to Section 7.3(A)) assessed by the applicable owner(s) of any portion of the Cook Inlet Gas Distribution System in
relation to Imbalance Volumes, to the extent that Buyer is determined by such owner(s) to have been responsible for the underlying imbalance. 

  

	 	7.4	Valuation of State’s Royalty Share. Pursuant to AS 38.05.180(aa) and (bb), within thirty (30) Days after the execution of this Agreement and before any deliveries of Gas are made under this Agreement,
Seller shall submit a written request to the Department of Natural Resources to enter into an agreement with Seller to accept the price for the Gas established in this Agreement as the value of the State of Alaska’s royalty share of Gas
production sold by Seller under this Agreement. The Parties shall use reasonable efforts and shall cooperate with one another and the State in seeking the State’s approval of the request. 

 

	8.	INVOICING AND ASSURANCES. 

  

	 	8.1	Billing. By the fifteenth (15th) Day of each Month, Seller shall give Buyer an invoice showing the following for the previous Month: 

 

	 	(A)	the charge for the Gas showing the volumes of each Category of Gas sold times the applicable Sales Price for each Category as calculated in accordance with Section 7.1(B); 

 

	 	(B)	the credit for any Delivery Shortfall Volume as provided and calculated in accordance with Section 2.4; 

  

	 	(C)	the costs allocated to Buyer; 

  

	 	(D)	any corrections for the previous or prior Months; 

  

			
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	 	(E)	any interest charges imposed under Section 8.4; and 

  

	 	(F)	the total amount due from Buyer to Seller. 

  

	 	8.2	Payment. 

  

	 	(A)	Buyer shall make payment to Seller on or before the twenty-fifth (25th) Day of each Month by Automated Clearing House (“ACH”) or wire transfer to the account of Seller set out below. Upon thirty
(30) Days’ written notice, Seller may designate a different financial institution or account to which Buyer will thereafter make payments. 

  

			
	Bank Name:	    	    Amegy Bank
	Bank ABA #:	    	    113011258
	Account Name:	    	    Hilcorp Alaska, LLC
	Account Number:	    	    53484238

  

	 	(B)	Buyer may set-off against and withhold from amounts payable by Buyer to Seller any and all amounts that are due Buyer by Seller under this Agreement where such amounts have not been credited to Buyer in Seller’s
invoice. 

  

	 	(C)	Buyer may, without prejudice to any claim or right, pay any disputed amount and must pay any undisputed amount. The Parties shall cooperate to resolve any disputed amount in a timely manner. 

 

	 	8.3	Remedies for Non-Payment. If Buyer fails to pay undisputed amounts to Seller for Gas within thirty (30) Days after the invoice is received, in addition to any other remedy available, Seller will have the
right to cease or curtail deliveries under this Agreement after notice to Buyer until payment (and interest under Subsection 8.4 below) is received, which right will not prejudice Seller’s rights to collect any sums due Seller (including
interest under Subsection 8.4 below) for Gas previously delivered to Buyer hereunder. 

  

	 	8.4	Interest. Pending resolution of a billing dispute, if payment is not made within thirty (30) Days of invoice receipt, the unpaid balance shall bear interest, compounded Monthly, at the prime rate in effect
at JPMorgan Chase Bank, NA, plus 1% on the first Day of each Month, or the maximum contract rate permitted by law, whichever is less, plus attorney’s fee, court costs, and other costs in connection with the collection of unpaid amounts.

  

	 	8.5	 Assurances. Except as described in this Section 8.5, Buyer shall not be required to provide any assurance of payment to the other Party
hereunder. If at any time during the Term, Buyer’s credit rating (corporate or long-term senior unsecured debt) is below BBB- by Standard & Poor’s or Baa3 by Moody’s, upon Seller’s request Buyer shall provide to Seller,
within ten (10) Business Days of any such 

  

			
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request, a letter of credit, a bond, a guaranty, or such other security in a form and in a sufficient amount as shall be satisfactory to Seller in its reasonable discretion, and Buyer shall
maintain such security at its sole cost and expense for so long as the Buyer’s credit rating is below BBB- by Standard & Poor’s or Baa3 by Moody’s. If and when Buyer’s credit rating is equal to or above BBB- by
Standard & Poor’s and Baa3 by Moody’s, Buyer may rescind, and Seller shall promptly release and (if applicable) deliver to Buyer, any such security. 

 

	9.	WARRANTY OF TITLE. 

 Seller warrants title at the Delivery Point to all Gas delivered to
Buyer hereunder and Seller’s right to deliver the same, and agrees to hold Buyer harmless from, and indemnify it against, any and all loss, damage, cost, expense, or liability of whatsoever kind arising out of claims of third persons with
respect to the title to such Gas, including costs, expenses, and reasonable attorney’s fees incurred by Buyer in defending against any such claims. 
  

	10.	FORCE MAJEURE. 

  

	 	10.1	Force Majeure Event. In the event either Party is rendered unable wholly or in part by the occurrence of a Force Majeure Event to perform its obligations under this Agreement, the obligation of such Party (other
than payment of money), insofar as fulfillment of the obligation is affected by such Force Majeure Event, will be suspended during the continuance of any inability so caused, but for no longer period, and such cause will, insofar as possible, be
remedied with reasonable dispatch. 

  

	 	10.2	 Force Majeure Defined. “Force Majeure Event” means any event that directly or indirectly renders a Party unable, wholly or in part,
to perform or comply with any obligation, covenant or condition in this Agreement if the event, or the adverse effects of the event, is outside of the control of, and could not have been prevented by, the affected Party with reasonable foresight, at
reasonable cost, and by the exercise of reasonable diligence in good faith, and is not attributable to the negligence or willful misconduct of the affected Party. Force Majeure Events include without limitation the following events (to the extent
they otherwise satisfy the definition): (i) act of God, fire, lightning, landslide, earthquake, volcano activity, storm, hurricane, hurricane warning, flood, high water, washout, explosion, or well blowout; (ii) strike, lockout, or other
industrial disturbance, act of the public enemy, war, military operation, blockade, insurrection, riot, epidemic, arrest or restraint by government of people, terrorist act, civil disturbance, or national emergency; (iii) the inability of the
affected Party to acquire, or the delay on the part of the affected Party in acquiring pipeline shipping capacity, permits or licenses, approvals, or authorizations by regulatory bodies needed to enable the Party to perform; (iv) breakage of or
accident to machinery, equipment, facilities, or lines of pipe and the freezing of a well or line of pipe, well blowout, or the partial or entire failure of a Gas well, a Gas storage

  

			
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facility or any facilities for the transmission of electricity; or (v) act, order, or requisition of any governmental agency or acting governmental authority, or any governmental law,
proration, regulation, or priority. 

  

	 	10.3	Notices. A Party experiencing a Force Majeure Event will notify the other Party by Operational Notice of the nature, extent and estimated duration of the Force Majeure Event as soon as reasonably possible but in
no event more than twenty-four (24) hours after becoming aware of the occurrence of the event. The Party experiencing the Force Majeure Event will update the other Party on a reasonably frequent basis but in no event less than once every five
(5) Days thereafter by Operational Notice. 

  

	 	10.4	Diligence. The Party experiencing a Force Majeure Event shall exercise diligence in good faith to remedy the Force Majeure Event and resume full performance under this Agreement as soon as reasonably practicable
(except that the settlement of strikes, lockouts, or other labor disputes or the restoration of a failed natural gas well shall be entirely within the discretion of the affected Party). 

 

	 	10.5	Extended Force Majeure Events. If the Party claiming the Force Majeure Event estimates that the Force Majeure Event will not be remedied for a period of more than ninety (90) Days, the Parties shall meet
within thirty (30) Days to agree upon a commercially reasonable course of action during the period of the Force Majeure Event that is consistent with the intent of this Agreement. If the Parties are unable to agree upon a commercially
reasonable course of action, either Party, upon sixty (60) Days’ notice, may reduce Seller’s and Buyer’s obligations with respect to the affected portion of the Gas to be made available and taken hereunder; provided however, that
the remaining provisions of this Agreement shall apply with respect to the portion of Seller’s and Buyer’s obligations that are not so reduced. 

  

	11.	REGULATORY COMMISSION OF ALASKA. 

  

	 	11.1	Submission. It is a condition precedent to the effectiveness of this Agreement that it has received RCA Approval. Buyer will submit this Agreement to the RCA for its consideration on or before July 31, 2013.

  

	 	11.2	Buyer’s Efforts. Buyer will use commercially reasonable efforts to obtain regulatory approval of this Agreement. Seller shall have no responsibility to take any action or incur any cost to obtain regulatory
approval of this Agreement. If the RCA issues an order that approves (conditionally or otherwise) this Agreement and imposes terms and conditions or modifications unacceptable to Buyer or Seller, each as determined in its sole and absolute
discretion, Buyer or Seller may terminate this Agreement upon written notice to the other Party, such termination to take effect on the date outlined in any such written notice of termination. If RCA Approval has not been obtained by
January 31, 2014, either Party may terminate this Agreement upon notice to the other Party, such termination to take effect on the date outlined in any such written notice of termination. 

  

			
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	 	11.3	Approval. “RCA Approval” will be deemed to have occurred on the date that an RCA order approving the Agreement without conditions or modifications unacceptable to the Parties becomes final and is not
subject to further reconsideration or appeal, or on such other date as may be mutually agreed by the Parties in writing. 

  

	12.	INDEMNIFICATION. 

  

	 	12.1	Indemnification. Each Party will protect, defend, indemnify and hold harmless the other from any and all liability and expense on account of all Claims arising from any act or accident including a failure to act,
as to which and to the extent that the indemnifying Party was at fault in connection with the installation, presence, maintenance, and operation of property, equipment, and facilities of the indemnifying Party used in connection with or associated
with the Gas delivered hereunder. This duty to protect, defend, indemnify, and hold harmless will survive the expiration or termination of this Agreement. 

  

	 	12.2	No Alteration of Cover Provisions. Nothing in this Section 12 shall add to, detract from or otherwise modify the provisions of this Agreement concerning the failure or refusal of Seller to deliver Gas or the
failure or refusal of Buyer to receive Gas under this Agreement, for which the sole recourse and remedy is set forth in Section 2.4. 

  

	13.	NOTICES 

  

	 	13.1	Regular Notices. Except as specifically provided otherwise in Sections 2.7 and 10.3 of this Agreement, all notices and communications under this Agreement (other than Operational Notices) will be made in writing
by certified mail (return receipt requested), facsimile (with confirmation by one of the other means described herein received within two (2) Business Days of receipt of such facsimile), email, or by nationally recognized overnight courier. All
such notices will be deemed effective (a) if mailed, on the date indicated on the returned receipt, (b) if delivered personally, when delivered, (c) if sent by email or by facsimile during the normal business hours of the recipient,
on the same Business Day as sent, and (d) if sent by email or facsimile after the normal business hours of the recipient, on the next Business Day following the date of transmission. 

  

			
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	Seller
	
	Hilcorp Alaska, LLC
	Attn:	  	        Senior Vice President
	Physical:	  	        3800 Centerpoint Drive, Suite 100
		  	        Anchorage, AK 99503
	Mailing:	  	        PO Box 244027
		  	        Anchorage, AK 99524-4027
	Fax:	  	        (907) 777-8350
	Email:	  	        jbarnes@hilcorp.com
		
	Buyer	  	
	
	Chugach Electric Association, Inc.
	Attn:	  	        Mr. Lee Thibert, Senior VP
	Physical:	  	        5601 Electron Dr.
		  	        Anchorage, AK 99519
	Mailing:	  	        PO Box 196300
		  	        Anchorage, AK 99519
	Fax:	  	        (907) 762-4514
	Email:	  	        Lee_Thibert@chugachelectric.com

  

	 	13.2	Operational Notices. Any Operational Notice required or permitted to be given to either Party will be given by telephone and confirmed by email, at the telephone numbers and email addresses set forth below (or
such other telephone numbers and email addresses as the Parties may designate from time to time by written notice under Section 13.3). Notices given by telephone will be effective immediately and the confirmation by email will be effective as
provided in Section 13.1. The Party providing an Operational Notice will attempt to contact the primary contact first. If the primary contact is unavailable to receive notice in a timely manner, the Party providing an Operational Notice will
contact the alternate contact. 

  

			
	 Seller
  

Hilcorp Alaska, LLC
 3800 Centerpoint Drive, Suite 100

Anchorage, AK 99503
  

Primary Contact:
 Rich Novcaski

Commercial Manager
 Telephone: (907) 777-8336

Mobile: (907) 301-1357
 Fax: (907) 777-8351

Email: rnovcaski@hilcorp.com
	  	

  

			
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	 Alternate Contact:
 Tami Ertz

Commercial Marketing Technician
 Telephone:
(907) 777-8411
 Mobile: (907) 351-8283
 Fax:
(907) 777-8351
 Email: tertz@hilcorp.com
  

Buyer
  

Chugach Electric Association, Inc.
 PO Box 196300

Anchorage, Alaska 99519
  

Primary Contact:
 Andrew White

Manager of Fuel Supply and Operations
 Fuel Dispatch Telephone:
(907) 762-4502
 Telephone: (907) 762-4577
 Mobile:
(907) 306-0123
 Fax: (907) 561-0027

Email: Andrew_White@chugachelectric.com
  

Alternate Contact:
 Jamie Stout

Fuel Supply Analyst
 Fuel Dispatch Telephone:
(907) 762-4502
 Telephone: (907) 762-4415
 Mobile:
(907) 602-0056
 Fax: (907) 561-0027
 Email:
Jamie_Stout@chugachelectric.com
	  	

  

	 	13.3	Changes in Contact Information. Either Party may designate address changes by formal written notice as provided in this section. 

 

	14.	GOVERNING LAW AND RESOLUTION OF DISPUTES. 

  

	 	14.1	Governing Law. This Agreement is governed by and interpreted under the laws of the State of Alaska, without regard to its choice of law rules. Arbitration shall be governed by the Revised Uniform Arbitration Act
as adopted by the State of Alaska, AS 09.43.300 – .595 (“Arbitration Act”), except as modified in this Agreement. 

  

	 	14.2	 Resolution of Disputes. Before initiating litigation, the Parties shall work together in good faith to resolve any Dispute between them using
direct 

  

			
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negotiations and mediation as set out in this Section 14. While the procedures in this Section 14 are pending, each Party shall continue to perform its obligations under this Agreement,
unless to do so would be impossible or impracticable under the circumstances. 

  

	 	14.3	Direct Negotiations. If a Dispute arises, a Party shall initiate the resolution process by giving notice setting out in writing and in detail the issues in Dispute and the value of the claim to the other Party. A
meeting between the Parties, attended by individuals with decision-making authority, must take place within thirty (30) Days from the date the notice was sent in an attempt to resolve the Dispute through direct negotiations. 

 

	 	14.4	Mediation. If the Dispute cannot be settled by direct negotiations within thirty (30) Days of initiation of the resolution process, either Party may initiate non-binding mediation by giving notice to the
other Party. The place of mediation shall be Anchorage, Alaska. The Parties shall select a mutually acceptable mediator within five (5) Business Days of the notice initiating mediation. 

 

	 	14.5	Arbitration. If the Dispute is not resolved by mediation within thirty (30) Days from the date of the notice requiring mediation, or if the Dispute is unresolved within sixty (60) Days from the date of
the notice requiring direct negotiations, then the Dispute shall be finally settled by binding arbitration and either Party may initiate such arbitration by giving notice to the other Party. The arbitration shall be conducted in accordance with The
International Institute for Conflict Prevention & Resolution (“CPR”) Rules for Non-Administered Arbitration (“CPR Rules”), except to the extent of conflicts between the CPR Rules at present in force and the provisions of
this Agreement, in which event the provisions of this Agreement prevail. The CPR is the appointing authority. The place of arbitration shall be Anchorage, Alaska. 

 

	 	14.6	Procedure. The following provisions shall apply to any arbitration proceedings commenced pursuant to Section 14.5: 

  

	 	(A)	The number of arbitrators shall be one if the monetary value of the Dispute is US $5,000,000 or less. The number of arbitrators shall be three if the monetary value is greater than US $5,000,000. 

 

	 	(B)	The arbitrator or arbitrators must remain neutral, impartial and independent regarding the Dispute and the Parties. If the number of arbitrators to be appointed is one, that arbitrator, or the presiding arbitrator if
the arbitrators are three, must be a lawyer experienced in the resolution of disputes with experience relating to the issues in dispute. 

  

	 	(C)	 The Parties waive any claim or right to recover for, and the arbitrator has or arbitrators have no power to award, incidental, consequential, punitive
or exemplary damages. The arbitrator has or arbitrators have no authority 

  

			
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to appoint or retain expert witnesses for any purpose unless agreed to by the Parties. The arbitrator has or arbitrators have the power to rule on objections concerning jurisdiction, including
the existence or validity of this arbitration clause and existence or the validity of this Agreement. 

  

	 	(D)	All arbitration fees and costs shall be borne equally regardless of which Party prevails. Each Party shall bear its own costs of legal representation and witness expenses. 

 

	 	(E)	The arbitrator is or arbitrators are authorized to take any interim measures as the arbitrator considers or arbitrators consider necessary, including the making of interim orders or awards or partial final awards. An
interim order or award may be enforced in the same manner as a final award using the procedures specified below. Further, the arbitrator is or arbitrators are authorized to make pre- or post-award interest at the interest rate specified in
Subsection 8.4. 

  

	 	(F)	The arbitrator or arbitrators must render a reasoned award in writing. This award shall be based upon a decision which must detail the findings of fact and conclusions of law on which it rests. 

 

	 	(G)	The Dispute will be resolved as quickly as possible. The arbitrator’s or arbitrators’ award must be issued within three (3) Months from completion of the hearing, or as soon as possible thereafter.

  

	 	14.7	Enforceability. 

  

	 	(A)	All disputes arising under this Agreement not resolved by the Parties via mediation and/or arbitration will be resolved in the state or federal courts of Alaska in Anchorage, Alaska. Each party, to the extent permitted
by law, knowingly, voluntarily, and intentionally waives its right to a trial by jury in any action or other legal proceeding arising out of or relating to this Agreement and the transactions it contemplates. This waiver applies to any action or
legal proceeding, whether sounding in contract, tort, or otherwise. 

  

	 	(B)	Except for proceedings to preserve property pending determination by the arbitrator or arbitrators or to enforce an award, the mandatory exclusive venue for any judicial proceeding permitted in this Agreement is
Anchorage, Alaska. The Parties consent to the jurisdiction of the state and federal courts in Anchorage, Alaska, and waive any defenses they have regarding jurisdiction. 

 

	 	(C)	Proceedings to enforce judgment entered on an award may be brought in any court having jurisdiction over the person or assets of the non-prevailing Party. The prevailing Party may seek, in any court having jurisdiction,
judicial recognition of the award, or order of enforcement or any other order or decree that is necessary to give full effect to the award. 

  

			
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	 	14.8	Confidentiality. 

  

	 	(A)	The Parties agree that any Dispute and any negotiations, mediation and arbitration proceedings between the Parties in relation to any Dispute shall be confidential and will not be disclosed to any third party.

  

	 	(B)	The Parties further agree that any information, documents or materials produced for the purposes of, or used in, negotiations, mediation or arbitration of any Dispute shall be confidential and will not be disclosed to
any third party. 

  

	 	(C)	Without prejudice to the foregoing, the Parties agree that disclosure may be made: 

  

	 	(1)	In order to enforce any of the provisions of this Agreement including without limitation, the agreement to arbitrate, any arbitration order or award and any court judgment. 

 

	 	(2)	To the auditors, legal advisers, insurers and affiliates of that Party to whom the confidentiality obligations set out in this Agreement shall extend. 

 

	 	(3)	Where that Party is under a legal or regulatory obligation to make such disclosure, but limited to the extent of that legal obligation. 

 

	 	(4)	With the prior written consent of the other Party. 

  

	 	(D)	The Parties agree to submit to the jurisdiction of the state and federal courts in Anchorage, Alaska, for the purposes of any proceedings to enforce this Section 14.8. 

 

	15.	MISCELLANEOUS 

  

	 	15.1	Authority. Each Party covenants to each other Party that it has the legal authority to enter into and perform this Agreement and each obligation assumed by such Party under this Agreement. 

 

	 	15.2	Further Assurances. The Parties shall at their own cost and expense execute and deliver such further documents and instruments and shall take such other actions as may be reasonably required or appropriate to
evidence or perform the intent and purposes of this Agreement or to show the ability to perform the intent and purposes of this Agreement. 

  

			
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	 	15.3	No Duty to Third Parties. This Agreement is made for the sole benefit of the Parties and their respective successors and assigns. The Parties do not intend to create, and this Agreement will not be construed to
create, by implication or otherwise, any rights in any other person or entity not a Party to this Agreement, and no such person or entity will have any rights or remedies under or by reason of this Agreement, or any right to the exercise of any
right or power hereunder or arising from any default hereunder. 

  

	 	15.4	No Partnership. The execution and performance of this Agreement is not intended by the Parties to create and will not be construed to create any partnership or business association between the Parties.

  

	 	15.5	Right to Examine Books and Records. Each Party to this Agreement, at its sole expense, will have the right to audit the books and records of the other Party relating to performance of this Agreement. All audits
will be conducted in accordance with professional auditing standards and during normal business hours. The audited Party will fully cooperate with the auditing Party to accomplish the audit as expeditiously as possible. Each Party’s right to
audit will remain in effect until two (2) years after termination or expiration of this Agreement. 

  

	 	15.6	Conflicts of Interest. Each Party represents and warrants to the other Party that said Party or its subcontractors, and its and their owners, shareholders, partners, directors, offices, employees or other agents
have neither paid, agreed to pay, nor will pay, any sums, kickbacks, or other such consideration to any owners, shareholders, partners, directors, offices, employees or other agent of the other Party, or to any third party in connection with this
Agreement, nor has any such payment or agreement for payment been requested or solicited by any such owners, shareholders, partners, directors, offices, employees or other agents. 

 

	 	15.7	Binding Nature; Successors and Assigns; Assignment. This Agreement shall be binding upon and inure to the benefit of the successors, assigns, personal representatives, and heirs of the respective Parties hereto,
and the covenants, conditions, rights and obligations of this Agreement shall run for the full term of this Agreement. This Agreement is assignable only with the prior written consent of the other Party, which consent will not be unreasonably
withheld. No assignment for which written consent has been received will be effective until the assignee agrees in writing to assume and fully perform the terms of this Agreement. 

 

	 	15.8	Seller Not A Public Utility. Seller is not a public utility and nothing contained herein will be deemed as a dedication to the public of the Natural Gas, or any land, wells, pipelines, or other facilities, or any
part thereof. 

  

	 	15.9	 Counterparts. This Agreement may be executed by the Parties in any number of counterparts and on separate counterparts, including electronic
transmittals, each of which when so executed will be deemed an original, but all such counterparts, 

  

			
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when taken together, will constitute but one and the same Agreement. In the event one Party executes the Agreement, and the other Party does not execute the Agreement within ten (10) Days of
the first Party’s execution, the execution of the Agreement by the first Party will be deemed null and void. 

 The
remainder of the page intentionally left blank. 

  

			
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 IN WITNESS WHEREOF, the Parties have executed this Agreement effective as of the date set forth in the preamble.

 IMPORTANT NOTICE: THIS AGREEMENT CONTAINS PROVISIONS REGARDING INDEMNITIES AND WARRANTIES THAT EXPRESS THE AGREEMENT OF THE PARTIES CONCERNING CLAIMS
ARISING OUT OF THIS AGREEMENT. 
  

									
	HILCORP ALASKA, LLC	 		 	CHUGACH ELECTRIC ASSOCIATION, INC.
			
	Signature:	 		 	Signature:
			
	 /s/ John A. Barnes
	 		 	 /s/ Bradley Evans

					
	Name:	 	 John A. Barnes
	 		 	Name:	 	 Bradley Evans

					
	Title:	 	 Sr VP HAK
	 		 	Title:	 	 CEO

					
	Date:	 	 28 June 2013
	 		 	Date:	 	 July 1st, 2013

  

			
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 GAS SALE AND PURCHASE AGREEMENT 

Exhibit A 
 Map of Cook
Inlet Area 
  
 

 

  

			
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 GAS SALE AND PURCHASE AGREEMENT 

Exhibit B 
 Delivery
Points and Delivery Point Meters 
 The following Delivery Points are authorized under this Agreement. Unless otherwise agreed by the Parties, Seller
may deliver Gas sold under this Agreement at any Delivery Point listed herein. 
  

	1.	Beluga River Unit (Connections), as follows: 

  

	 	a.	The inlet to Buyer’s facilities connected to the Beluga Unit Area Connection to CEA off the Beluga River Unit’s gas filter building (Meter Station 110) located within the West
 1⁄2 of the Southeast  1⁄4 of Section 26, Township 13 North, Range
10 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

	 	b.	Beluga Area Unit Connection (ENSTAR/APC Metering station 8601, Meters 170 A&B). At the upstream flange of Alaska Pipeline Company’s meter at or near the inlet of Alaska Pipeline Company’s Beluga-Anchorage
pipeline located within the West  1⁄2 of the Southwest  1⁄4
Section 26, Township 13 North, Range 10 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

	2.	CIGGS to Beluga Pipeline 8106/401 interconnect meters, as described in CIGGS Pipeline Tariff RCA No. 711. 

  

	3.	The Kenai-Anchorage Pipeline – Kenai Unit Area Connection (ENSTAR/APC Meters 500 and 502). At the upstream flange of the Alaska Pipeline Company’s master meter located at or near the inlet of the Alaska
Pipeline Company’s Kenai-Anchorage pipeline in Section 30, Township 5 North, Range 11 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

	4.	The Kenai Kachemak Pipeline – KKPL-APC Interconnection Point (MSN 601). At the downstream weld of the 8-inch electronic isolation fitting, located just outside of KKPL’s meter building, between the
northern terminus of the KKPL and the APL’s lateral to the inlet of the APC’s Kenai-Anchorage pipeline in Southeast  1⁄4 of Section 30, Township
5 North, Range 11 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

	5.	The Kenai-Anchorage Pipeline – 

  

	 	a.	Sterling Unit Connection (ENSTAR/APC Metering station 677, 9100). At the upstream flange of the Transporter’s meter at or near the connection of the Transporter’s Royalty Pipeline located within the Northeast  1⁄4 of Section 9, Township 5 North, Range 10 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

 

	 	b.	West Fork (ENSTAR/APC Station K676, 2200). West Fork Connection (ENSTAR/APC Station K676, Meters 924 & 925). At the upstream flange of Alaska Pipeline Company’s meter at or near the connection of the
pipeline from the West Fork field and Alaska Pipeline Company’s Kenai-Anchorage pipeline located in the South 60 feet of the Northwest  1⁄4 of the
Northwest  1⁄4 of Section 12, Township 5 North, Range 9 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

			
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	6.	APC Royalty Line 

  

	 	a.	ENSTAR/APC Meter Beaver Creek 1100: At the upstream flange of transporter’s meter at or near Transporter’s existing pipeline within the Northwest  1⁄4 , Southwest  1⁄4, Section 7, Township 6 North, Range 10 West, Kenai Peninsula Borough, Seward Meridian, Alaska.

  

	 	b.	ENSTAR/APC Meter Swanson River 520: At the upstream flange of Unocal/Chevron’s meter located at or near the inlet of the Company’s North Kenai Lateral pipeline in Government Lot 1, Section 21, Township 7
North, Range 12 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

	7.	APC Beluga-Anchorage Pipeline ENSTAR/APC Metering Points for the following interconnection meters, as described below: 

  

	 	a.	Pretty Creek Unit & Storage (ENSTAR/APC Metering station B602, Meters 189 A & 189 B). At the upstream flange of Alaska Pipeline Company’s meter at or near the connection of the Alaska Pipeline
Company’s Beluga-Anchorage pipeline located within the South  1⁄2, Section 28, Township 14 North, Range 9 West, Matanuska-Susitna Borough, Seward
Meridian, State of Alaska. 

  

	 	b.	Stump Lake/Ivan River Unit & Storage (ENSTAR/APC Metering station B603, Meters 600& 601). At the upstream flange of the Alaska Pipeline Company’s meter at or near the connection of the Alaska Pipeline
Company’s Beluga-Anchorage pipeline located within the Southeast  1⁄4 of the Northwest  1⁄4 of the Northeast  1⁄4 of the Southwest
 1⁄4 of Section 22, Township 14 North, Range 9 West, Matanuska-Susitna Borough, Seward Meridian, State of Alaska. 

 

	 	c.	Lewis River Unit (ENSTAR/APC Metering station B604, Meters 168 A & 168 B). At the upstream flange of the Alaska Pipeline Company’s meter at or near the connection of the Alaska Pipeline Company’s
Beluga-Anchorage pipeline located within the Northwest  1⁄4 of Section 2, Township 14 North, Range 9 West, Matanuska-Susitna Borough, Seward Meridian,
State of Alaska. 

  

	8.	The Kenai Kachemak Pipeline – KKPL-KNPL 600 interconnect meter, as described in the KKPL Tariff RCA No. 668. 

  

	9.	The Kenai Nikiski Pipeline – KNPL Receipt Points (301, 303, 400, 420, 600), as described in the KNPL Tariff RCA No. 689 

 

	 	a.	Cannery Loop (301, 303). 

  

	 	b.	Kenai Gas Field (400). 

  

	 	c.	Swanson River (420). 

  

	 	d.	Kenai Kachemak Pipeline (600). 

  

	10.	CIGGS to KNPL 401 interconnect meter at the upstream flange of the CIGGS and KNPL pipelines located in the Northeast  1⁄4
of the Northeast  1⁄4 of Section 21, Township 7 North, Range 12 West, Kenai Peninsula Borough, Seward Meridian, State of Alaska. 

  

			
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 GAS SALE AND PURCHASE AGREEMENT 

Exhibit C 
 Gas Quality
Specifications 
 The following are the “Gas Quality Specifications” for Gas sold and purchased under this Agreement: 

 

					
	Quality	  	Specification
		
	Gross Heating Value	  	 3 950 BTUs per Standard Cubic Foot; and

£ 1,050 BTUs per Standard Cubic Foot.

		
	Deleterious Matter	  	
			
		  	General	  	Commercially free of dust, gum, gum forming constituents, or other liquid or solid matter that may separate from the Gas in transportation
			
		  	Temperature	  	£ 120o Fahrenheit
			
		  	Water	  	£ 4 pounds per MMcf
			
		  	Hydrogen Sulfide	  	£ 1 grain per 100 Standard Cubic Feet
			
		  	Sulphur	  	£ 20 grains of sulphur per 100 Standard Cubic Feet
			
		  	Carbon Dioxide	  	£ 3% by volume
			
		  	Oxygen	  	£ 1% by volume
			
		  	Filtration	  	Passed through a .3 micron coalescing filter prior to delivery
		
	Pressure	  	Gas shall be delivered at sufficient pressure to enter the pipeline for delivery at the Delivery Point

  

			
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