Document:

Exhibit

October 26, 2017
Personal & Confidential
Micah Young
52 Discovery
Irvine, CA 92618

Re:     Masimo Corporation Amended and Restated 2007 Severance Protection Plan - Limited Participation Agreement

Dear Micah:
This letter relates to the Amended and Restated 2007 Severance Protection Plan (the “Plan”) that we, Masimo Corporation, have adopted.
Through this letter, you are being offered the opportunity to become a limited Participant in the Plan and, thereby, to be eligible to receive only the change in control benefits (and not the basic or the voluntary severance benefits) described below. A copy of the Plan is attached to this letter and incorporated herein by reference. You should read the Plan carefully and become comfortable with its terms and conditions, and those set forth below. Upon completion of three (3) years of service to Masimo Corporation, you will be eligible for full participation in the Plan.
If you choose to sign below, you will be establishing a Participation Agreement, within the meaning of the Plan, and as limited by the terms of this Participation Agreement; and, you will thereby be acknowledging and agreeing to the following provisions:
(a) that you have received and reviewed a copy of the Plan;
(b) that terms not defined in this Participation Agreement, but beginning with initial capital letters, shall have the meanings assigned to them in the Plan;
(c) that your limited participation in the Plan requires that you agree irrevocably and voluntarily to the terms of the Plan and the terms set forth below; and
(d) that you have had the opportunity to carefully evaluate this opportunity, and desire to participate in the Plan according to the terms and conditions set forth herein.
Subject to the foregoing, we invite you to become a limited Participant in the Plan. Your limited participation in the Plan will be effective upon your signing and returning this Participation Agreement to the Company within thirty (30) days of your receipt of this Participation Agreement.

NOW, THEREFORE, you and the Company (hereinafter referred to as the “parties”) hereby agree as follows:
1.     If (a) your employment terminates on the date of a Change in Control specifically because your current job, or similar job, was not offered to you on the date of such Change in Control, or (b) you experience a Covered Termination on or after a Change in Control for a reason other than as set forth in preceding Section l(a) then, in accordance with Sections 3 and 4 of the Plan, fifty percent (50%) of each of your unvested and outstanding stock options or other equity-based awards will immediately vest upon a Change in Control.
2.     As a condition of receiving the limited Change in Control Severance Benefits pursuant to the Plan and this Participation Agreement, you must sign all relevant documents listed in Section 4 of the Plan.
3.    In consideration of becoming eligible to receive the limited Change in Control Severance Benefits provided under the terms and conditions of the Plan and this Participation Agreement, you agree to waive any and all rights, benefits, and privileges to severance benefits that you might otherwise be entitled to receive under any other oral or written plan, employment agreement or arrangement.
4.    You understand that the waiver set forth in Section 3 above is irrevocable, and that this Participation Agreement and the Plan set forth the entire agreement between us with respect to any subject matter covered herein.
5.    Subject to Section 12(b) of the Plan, this Participation Agreement shall terminate, and your status as a “Participant” in the Plan shall end, on the termination of your employment other than pursuant to a “Covered Termination” as defined in Section 2(d)(i) of the Plan.
6.    While the Plan and this Participation Agreement are in effect, you agree that if you decide to voluntarily resign, you will give the Company six (6) months notice.
7.    As a condition for receiving benefits under the Plan and this Participation Agreement, you agree that the Committee may reduce your Plan benefits to avoid triggering any “excess parachute payments” under Section 2800 of the Code.
8.    If any provision of the Plan, or of this Participation Agreement, is determined to be unlawful, invalid or unenforceable, such provision shall be deemed severed from the Plan or this Participation Agreement, respectively, but every other provision of the Plan or of this Participation Agreement shall remain in full force and effect. In substitution for any provision of the Plan or this Participation Agreement being held unlawful, invalid or unenforceable, there shall be substituted a provision of similar import reflecting the original intent of the parties hereto to the fullest extent permissible under law.
9.    You recognize and agree that your execution of this Participation Agreement results in your limited enrollment and participation in the Plan, that you agree to be bound by the terms and conditions of the Plan and this Participation Agreement, and that you understand that this Participation Agreement may not be amended or modified except pursuant to Section 12 of the Plan.

	
								
	Dated:
	December 12, 2017
	 
	 
	 
	MASIMO CORPORATION:

	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	By:
	/s/ JOE KIANI
	 

	 
	 
	 
	 
	 
	 
	Joe Kiani
	 

	 
	 
	 
	 
	 
	 
	CEO & Chairman of the Board

	 
	 
	 
	 
	 
	 
	 
	 

	ACCEPTED AND AGREED TO  this 15th day of November 2017.
	 

	 
	 
	 
	 
	 
	 
	 
	 

	/s/ MICAH YOUNG
	 
	 
	 
	 
	 
	 

	Micah YoungEX-4.1

 Exhibit 4.1 

AMENDMENT NO. 1 TO RIGHTS AGREEMENT 

This AMENDMENT NO. 1 TO RIGHTS AGREEMENT (this “Amendment”), between Rent-A-Center, Inc., a Delaware corporation (the “Corporation”), and American Stock Transfer & Trust Company, LLC (the “Rights Agent”) is made effective as of
February 27, 2018 (the “Effective Date”). 
 RECITALS 

WHEREAS, the Corporation and the Rights Agent are parties to that certain Rights Agreement, dated as of March 28, 2017 (the
“Rights Agreement”); 
 WHEREAS, the Board of Directors of the Corporation has determined to amend the Rights Agreement
and, in furtherance thereof, the Corporation desires to enter into this Amendment pursuant to which the Rights Agreement will be amended to accelerate the Final Expiration Date, effectively terminating the Rights Agreement; and 

WHEREAS, in accordance with Section 27 of the Rights Agreement, at any time prior to the Distribution Date, the Corporation may, in its
sole and absolute discretion, and the Rights Agent shall if the Corporation so directs, supplement or amend any provision of the Rights Agreement, in any respect without the consent or approval of any holders of Rights or Common Stock. 

AMENDMENT 
 NOW,
THEREFORE, in consideration of the premises and of the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

1.    Amendment of Rights Agreement. Clause (i) of Section 7(a) of the Rights Agreement is hereby amended
and restated in its entirety to read as follows: 
 “(i) the close of business on February 27, 2018 (the “Final Expiration
Date”),” 
 2.    Amendment of Exhibits. The exhibits to the Rights Agreement shall be deemed to be
restated to reflect this Amendment, including all conforming changes. 
 3.    Effect of Amendment. This
Amendment will be deemed an amendment to the Rights Agreement and will become effective on the Effective Date. In the event of a conflict or inconsistency between this Amendment and the Rights Agreement and the exhibits thereto, the provisions of
this Amendment will govern. 
 4.    Governing Law. This Amendment, shall be governed by and construed in
accordance with the laws of the State of Delaware, in accordance with the laws of such state applicable to contracts made and to be performed entirely within such state. 

  
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 5.    Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument. A signature to this Amendment transmitted electronically shall have the same authority, effect and enforceability as an original
signature. 
 6.    Capitalized Terms. Capitalized terms used herein and not otherwise defined shall have the
meaning set forth in the Rights Agreement. 
 [Signature Page Follows.] 

  
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 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the Effective Date. 

 

			
	RENT-A-CENTER, INC.
		
	By:	 	 /s/ Dawn M. Wolverton

	Name:	 	Dawn M. Wolverton
	Title:	 	Vice President – Assistant General Counsel and Secretary
		 	
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC
		
	By:	 	 /s/ Michael A. Nespoli

	Name:	 	Michael A. Nespoli
	Title:	 	Executive Director

  
 -3-EX-10.24

 Exhibit 10.24 

[FORM] AMENDED AND RESTATED 

CHANGE IN CONTROL AGREEMENT 

THIS AMENDED AND RESTATED CHANGE IN CONTROL AGREEMENT (this “Agreement”) is entered into and effective as of
the [●] day of [●], among SOUTHWEST GAS CORPORATION, a California corporation (“Southwest”), SOUTHWEST GAS HOLDINGS, INC., a California corporation (“Holdings” and together with Southwest and its successors, the
“Company”), and [●] (the “Executive”). 
 WHEREAS, the Board of Directors of
Holdings (the “Board”) recognizes that the continuing possibility of a change in control of Southwest or Holdings is unsettling to the Executive and other officers of the Company; and 

WHEREAS, the Board wishes to assure a continuing dedication by the Executive to his duties to the Company, notwithstanding the
occurrence or potential occurrence of a change in control of Southwest or Holdings; and 
 WHEREAS, the Board believes it is
important, should the Company receive proposals from third parties with respect to its future, to enable the Executive, without being influenced by the uncertainties of his own situation, to assess and advise the Board whether such proposals would
be in the best interests of the Company and its shareholders and to take such other action regarding such proposals as the Board might determine to be appropriate; and 

WHEREAS, the Board wishes to demonstrate to officers of the Company that the Company is concerned with the welfare of its
officers and intends to see that loyal officers are treated fairly; and 
 WHEREAS, Southwest previously entered into a
change in control agreement with the Executive, and the Company and Executive wish to amend and restate such agreement in its entirety pursuant to the terms this Agreement. 

NOW, THEREFORE, the Company and the Executive agree as follows: 

 

	1.	 TERM 

The term of this Agreement shall continue in effect until the Company’s termination of this Agreement by providing
Executive with written notice of such termination at least twelve (12) months prior to the proposed termination date, provided that such termination notice shall be deemed to be null and void (and this Agreement shall continue in full force and
effect) if prior to such proposed termination date a Change in Control occurs or another event occurs that is expected to result in a Change in Control. Notwithstanding the foregoing, this Agreement shall not terminate during the Protection Period
or the Severance Period, in each case as defined below. 
  

	2.	 DEFINITIONS 

As used in this Agreement: 

  
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 (a) “Cause” means (i) a material act of theft,
misappropriation, or conversion of corporate funds committed by the Executive or (ii) the Executive’s demonstrably willful, deliberate and continued failure to follow reasonable directives of the Board or the Chief Executive Officer of
Southwest or Holdings which are within the Executive’s ability to perform. The Executive shall not be deemed to have been terminated for Cause unless and until: (x) there shall have been delivered to the Executive a copy of a resolution
duly adopted by the Board in good faith at a meeting of the Board called and held for such purpose (after reasonable notice to the Executive and an opportunity for the Executive, together with his counsel, to be heard before the Board) finding that
the Executive was guilty of conduct set forth above and specifying the particulars thereof in reasonable detail; and (y) if the Executive contests such finding (or a conclusion that he has failed to timely cure the performance in response
thereto), the arbitrator, by final determination in an arbitration proceeding pursuant to Section 5 hereof, has concluded that the Executive’s conduct met the standard for termination for Cause above and that the Board’s conduct met
the standards of good faith and satisfied the procedural and substantive conditions of this Section 2(a) (collectively, the “Necessary Findings”). The Executive’s costs of the arbitration shall be advanced by the Company
and shall be repaid to the Company if the arbitrator makes the Necessary Findings. 
 If within sixty (60) days after
receipt by the Executive of the resolution referred to in the preceding paragraph, the Executive notifies the Company that a dispute exists concerning the termination, the termination date of the Executive shall be the date as finally determined by
mutual written agreement of the parties or by a final and binding arbitration award. During the period until the dispute is finally resolved, the Company will, in accordance with its regular payroll procedures, continue to pay the Executive his full
compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, base salary) and continue the Executive as a participant in all compensation, employee benefit, health and welfare and insurance plans,
programs, arrangements and perquisites in which the Executive was participating or to which he was entitled when the notice giving rise to the dispute was given, until the dispute is finally resolved. Amounts paid under this Section 2(a) shall
be repaid to the Company or be offset against or reduce any other amounts due the Executive under this Agreement, if appropriate, only upon the final resolution of the dispute. Notwithstanding the foregoing, if the Executive is a “specified
employee” within the meaning of Section 409A of the Code and the related Treasury Regulations and guidance thereunder (“Section 409A”) on the date of termination of the Executive’s employment with
the Company, during the six- (6-) month period following the Executive’s termination of employment with the Company, payments to the Executive under this
Section 2(a) (other than reimbursements and in-kind amounts described in Treasury Regulation Section 1.409A-1(b)(9)(v), or any successor provision thereto)
that constitute “non-qualified deferred compensation” under Section 409A shall be delayed and paid to the Executive on the first regularly scheduled Company executive pay date that occurs in the
seventh (7th) calendar month following the calendar month in which the Executive’s termination of employment occurs; thereafter, any additional payments owed to the Executive under this Section 2(a) shall be paid to the Executive ratably
on the following regularly scheduled Company executive pay dates. 
 (b) “Change in Control” means any of
the following: 

  
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 (i) Approval by the shareholders of Holdings of the dissolution
or liquidation of Holdings; 
 (ii) Consummation of a merger or consolidation, or other reorganization, with
or into one (1) or more entities that are not Subsidiaries, as a result of which less than 50% of the outstanding voting securities of the surviving or resulting entity immediately after such reorganization are, or shall be, owned, directly or
indirectly, by shareholders of Holdings immediately before such reorganization (assuming for purposes of such determination that there is no change in the record ownership of Holdings’ securities from the record date for such approval until
such reorganization and that such record owners hold no securities of the other parties to such reorganization, but including in such determination any securities of the other parties to such reorganization held by affiliates of Holdings); 

(iii) Consummation of the sale of substantially all of Holdings’ business and/or assets to a person or
entity which is not a Subsidiary; 
 (iv) Any “person” (as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), but excluding any person described in and satisfying the conditions of Rule 13d-1(b)(1) thereunder), becomes the
beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Holdings representing more than 30% of the combined voting power of Holdings’ then outstanding
securities entitled to then vote generally in the election of directors of Holdings; or 
 (v) During any
period not longer than two (2) consecutive years, individuals who at the beginning of such period constituted the Board cease to constitute at least a majority thereof, unless the election, or the nomination for election by Holdings
shareholders, of each new Board member was approved by a vote of at least three-fourths (3/4) of the Board members then still in office who were Board members at the beginning of such period (including for these purposes, new members whose election
was so approved). 
 “Change in Control” under this Agreement shall, in addition to the enumerated events set
forth above involving Holdings, the common stock of Holdings, or the board of directors of Holdings, include the events enumerated in items (i) through (iv) above with respect to Southwest. 

Pursuant to a Plan of Reorganization entered into on December 28, 2016, by and among the Southwest, Holdings, Southwest
Gas Utility Group, Inc., a California corporation, and Southwest Reorganization Co., a California corporation, Southwest became a wholly owned subsidiary Holdings, and the former shareholders of Southwest became the shareholders of Holdings (the
closing of the transactions contemplated by the Plan of Reorganization, the “Reorganization”). The parties hereto agree that (i) the Reorganization did not constitute a “Change in Control” under this Agreement or any
predecessor agreement with Southwest and (ii) in no event will this Agreement be construed so that the Executive becomes entitled to duplicate severance benefits from Southwest and Holdings. 

  
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 (c) “COBRA” means the Consolidated Omnibus Budget Reconciliation
Act of 1986, as amended. 
 (d) “Code” means the Internal Revenue Code of 1986, as amended. 

(e) “Disability” means that because of physical or mental illness or disability, the Executive shall have
been continuously unable to perform the essential functions of his job with or without reasonable accommodation for a consecutive period of at least six (6) months. 

(f) “Good Reason” means, following a Change in Control: 

(i) without the Executive’s express written consent, the assignment to him of any duties materially
inconsistent with his positions, duties, authority, responsibilities or status with the Company immediately prior to such Change in Control; 

(ii) a material demotion or a material change in the Executive’s titles or offices as in effect
immediately prior to such Change in Control; 
 (iii) any removal of the Executive from or any failure to re-elect him to any of such positions; except in connection with the termination of the Executive’s employment for Cause, Disability or retirement or as a result of his death or by him other than for Good
Reason; 
 (iv) without the Executive’s express written consent, a material reduction by the Company in
the Executive’s base salary as in effect on the date of such Change in Control or, if greater, such greater base salary as may be in effect from time to time subsequent to such Change in Control, provided, in each case, that a reduction by the
Company in the Executive’s base salary of ten (10) percent or more shall be sufficient but not necessary to constitute a material reduction by the Company in the Executive’s base salary; 

(v) the failure by the Company to continue at levels materially not less than those in existence immediately
prior to such Change in Control the Executive’s participation in any thrift, incentive or compensation plan, or any pension plan, in which the Executive participated immediately prior to such Change in Control, provided that the Company may
provide for participation in substantially similar plans that provide benefits at levels materially not less than those in existence immediately prior to such Change in Control; 

(vi) the failure by the Company to provide for the Executive’s participation in any welfare, life
insurance, health and accident or disability plan on the same basis as those provided to executives of the Company who are similarly situated to the Executive; 

(vii) the taking of any action by the Company which would materially adversely affect the Executive’s
participation in or materially reduce his benefits under any single such plan or all such plans, when taken together, or deprive him of any material fringe 

  
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benefit enjoyed by him at the time of such Change in Control (except for the acceleration of the termination dates of stock options, restricted stock units, performance shares and other awards
and rights, if applicable, as contemplated by this Agreement), provided that the taking of any action by the Company that reduces the economic value attributable to such participation, benefits or fringe benefit by ten (10) percent or more
shall be sufficient but not necessary to constitute a materially adverse effect, material reduction or deprivation, as applicable; 

(viii) the assignment to the Executive without his consent to a new work location which would require an
increase in the round-trip commute to work from the Executive’s residence immediately prior to such Change in Control of more than 40 miles per day; or 

(ix) any material breach of any material provision of this Agreement. 

Notwithstanding the foregoing, the Executive shall not be entitled to terminate his employment with the Company for Good
Reason unless the following process is followed with respect to such termination. Within ninety (90) days following the initial occurrence of an event that purportedly constitutes Good Reason, the Executive shall give the Company written notice
of the occurrence of such event, setting forth the exact nature of such event and the conduct required to cure such event. The Company shall have thirty (30) days from the receipt of such notice within which to cure such event (such period, the
“Cure Period”). If, during the Cure Period, such event is cured, then the Executive shall not be permitted to terminate his employment with the Company for Good Reason as a result of such event. If, at the end of the Cure Period,
such event is not cured, the Executive shall be entitled to terminate his employment with the Company for Good Reason as a result of such event during the sixty (60) day period following the end of the Cure Period. If the Executive does not
terminate his employment with the Company for Good Reason during such sixty (60) day period, the Executive shall not be permitted to terminate his employment with the Company for Good Reason as a result of such event. 

(g) “Subsidiary” means any corporation, partnership, joint venture or other entity in which the Company has a
50% or greater equity interest. 
  

	3.	 LIMITED RIGHT TO A SEVERANCE BENEFIT 

The Executive shall be entitled to the severance benefits provided in this Section 3 if, within twenty-four
(24) months after a Change in Control (the “Protection Period”): (i) the Executive terminates his employment with the Company for Good Reason or (ii) the Executive’s employment is terminated by the Company for any
reason other than (x) the Executive’s death, (y) the Executive’s Disability or (z) Cause, in each case, for clauses (i) and (ii) immediately preceding, provided that the Executive executes and delivers to the Company
within forty-five (45) days of the date of such termination, and lets become effective and irrevocable, a Release in the form attached hereto as Attachment A (“Release”): 

(a) Any restricted stock awards, restricted stock units, stock options, stock appreciation rights or performance shares to
purchase or relating to the common stock of the Holdings granted to the Executive with respect to performance with the Company prior to January 1, 2017, and held 

  
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by the Executive on the date of such termination, which are not then currently vested or exercisable, shall on such date automatically become vested or exercisable and shall remain exercisable
for ninety (90) days thereafter (subject to any fixed term of such award, unit, option, right or share set forth in the document evidencing such award, unit, option, right or share). The parties hereto agree that any restricted stock awards,
restricted stock units, stock options, stock appreciation rights or performance shares to purchase or relating to the common stock of Holdings granted to the Executive with respect to performance with the Company for periods from and after
January 1, 2017, shall not be governed by this Agreement. 
 (b) A lump-sum
severance payment equal to the sum of: 
 (i) [36 (CEO)] OR [30 (President and SVP)] OR [24 (VP)] months of
the Executive’s yearly base salary in effect as of the date of such termination or, if greater, as of the date of such Change in Control, and 

(ii) an amount equal to any incentive compensation that would be payable to the Executive under any short-term
incentive compensation plan of the Company (including the Company’s Management Incentive Plan or any successor plan thereto), calculated at the designated award opportunity for the Executive at the date of termination or, if greater, as of the
date of such Change in Control, and at 100% of the target performance measures, with any such amounts otherwise payable in securities of the Company to be payable in cash, for the period during the applicable plan year preceding the date of such
termination and for the severance period of [36 (CEO)] OR [30 (President and SVP)] OR [24 (VP)] months following the date of such termination (such post-termination period, the “Severance Period”), and 

(iii) an amount equal to the full cost of health and dental coverage for the Executive (and his eligible
dependents) for the Severance Period, which amount shall be calculated based on the full cost of continued health and dental coverage for the Executive (and his eligible dependents) under COBRA as of the date of termination or, if greater, as of the
date of such Change in Control, and 
 (iv) an amount equal to the full cost of replacement disability and
life insurance coverage for the Executive (other than travel/accident) for the Severance Period, which cost shall be calculated as of the date of termination or, if greater, as of the date of such Change in Control. 

Subject to the limits in Section 3(e) below, payment of the foregoing lump-sum
severance payment shall be made in accordance with the Company’s regular payroll procedures and be made to the Executive on the first regularly scheduled Company executive pay date that occurs sixty (60) days after the termination of the
Executive’s employment, provided that the Release has become effective and irrevocable. 
 (c) The Company shall pay the
Executive any benefits under the Company’s benefit plans, including Southwest’s Executive Deferred Compensation Plan and Southwest’s Supplemental Executive Retirement Plan (the “SERP”), which are fully vested on the
date of such 

  
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termination, in accordance with their terms, including with respect to applicable payment schedules and any applicable elections; provided, however, that, if the Executive shall have reached the
age of fifty (50) by the date of such termination, the Executive shall receive additional benefits under the SERP such that the Executive shall be permitted to add to the formula for purposes of eligibility for benefits, vesting and calculation
of benefits, [6 (CEO, President and SVP)] OR [5 (VP)] points which, at the election of the Executive, may be applied either to an age assumption or continuous length of service assumption or a combination thereof. 

(d) The Executive shall be entitled to reimbursement of reasonable expenses actually incurred by the Executive directly
related to outplacement services, which reimbursement shall not exceed Thirty Thousand Dollars ($30,000). Such reimbursement shall only be made for outplacement services directly related to such termination. Such expenses must be incurred not later
than the end of the second calendar year following the calendar year of such termination. Such expense must be submitted by the Executive to the Company as promptly as practicable, and in no event later than required by the Company in order for the
Company to make such reimbursement no later the last day of the third calendar year following the calendar year in which such termination occurs. In no event shall the Company make any such reimbursement later than the last day of the third calendar
year following the calendar year in which such termination occurs. 
 (e) Notwithstanding anything to the contrary in this
Section 3, if the Executive is a “specified employee” within the meaning of Section 409A, during the six- (6-) month period following the
Executive’s termination of employment with the Company, payments to the Executive under this Section 3 (other than reimbursements and in-kind amounts described in Treasury Regulation Section 1.409A-1(b)(9)(v) or any successor provision thereto) that constitute “non-qualified deferred compensation” under Section 409A shall be delayed and
paid to the Executive on the first regularly scheduled Company executive pay date that occurs in the seventh (7th) calendar month following the calendar month in which the Executive’s termination of employment occurs; thereafter, any additional
payments owed to the Executive under this Section 3 shall be paid to the Executive in the manner otherwise specified in this Section 3. With respect to any payment delayed pursuant to this Section 3(e), the Company shall pay the
Executive, on the day on which such delayed payment is made to the Executive, interest on such delayed payment for the period of such delay at the applicable federal rate provided for in Section 1274(d) of the Code for the month in which such
delayed payment otherwise would have been made. 
 (f) For purposes of this Agreement, the Executive will be deemed to not
have terminated employment with the Company unless the Executive has incurred a Separation from Service. “Separation from Service” means the termination of the Executive’s employment by the Company if the Executive dies,
retires or otherwise has a termination of employment with the Company; provided that the Executive’s employment relationship is treated as continuing intact while on military leave, sick leave or other bona fide leave of absence if the period
of such leave does not exceed six (6) months or longer, if the Executive’s right to reemployment is provided either by statute or by contract. A leave of absence constitutes a bona fide leave of absence only if there is a reasonable
expectation that the Executive will return to perform services for the Company. If the period of leave exceeds six (6) months and the Executive does not retain a right to reemployment under an applicable statute or by contract, the employment
relationship is deemed to terminate on the first date immediately following such six- (6-) month period. Notwithstanding 

  
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the foregoing, where a leave of absence is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous
period of not less than six (6) months, where such impairment causes the employee to be unable to perform the duties of his or her position of employment, or any substantially similar position of employment, a twenty-nine (29-) month period of absence may be substituted for such six- (6-) month period. For purposes of this paragraph, the term
“Company” includes all other organizations that together with the Company are part of a control group of organizations under Section 414(b) and Section 414(c) of the Code. Whether an Executive has incurred a Separation
from Service shall be determined based in accordance with Section 409A. Additionally, if the Executive ceases to work as an Executive, but is retained to provide services as an independent contractor of the Company, the determination of whether
the Executive has incurred a Separation from Service shall be determined based in accordance with Section 409A. 
  

	4.	 CERTAIN REDUCTION OF PAYMENTS BY THE COMPANY 

In the event that it is determined that any payment or distribution by the Company to the Executive or for the Executive’s
benefit, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or pursuant to or by reason of any other agreement, policy, plan, program or arrangement, including without limitation any stock option or
restricted stock or similar right, or the lapse or termination of any restriction on or the vesting or exercisability of any of the foregoing (a “Payment”), would be subject to the excise tax imposed by Section 4999 of the Code (or
any successor provision thereto), by reason of being considered “contingent on a change in the ownership or effective control” of the Company, within the meaning of Section 280G of the Code (or any successor provision thereto) or to
any similar tax imposed by state or local law, or any interest or penalties with respect to such tax (such tax or taxes, together with any such interest and penalties, being hereafter collectively referred to as the “Excise Tax”), then the
Payment shall be reduced by the Company in a manner determined by the Company to be $1.00 less than three (3) times the Executive’s base amount (as defined in Section 280G of the Code) so that no portion of the Payment shall be
subject to the Excise Tax, provided that the Company shall make such reduction only if such reduction would effect, on an after-tax basis, a Payment that is greater than the Payment that would be made if no
such reduction were effected. The Executive shall be permitted to provide the Company with written notice specifying which of the Payments will be subject to reduction or elimination; provided, however, that to the extent that the Executive’s
ability to exercise such authority would cause any Payment to become subject to any taxes or penalties pursuant to Section 409A, or if the Executive does not provide the Company with any such written notice, the Company shall reduce or
eliminate the Payments by first reducing or eliminating the portion of the Payments that are payable in cash and then by reducing or eliminating the non-cash portion of the Payments, in each case in reverse
order beginning with payments or benefits which are to be paid the farthest in time. Except as set forth in the preceding sentence, any notice given by the Executive pursuant to the preceding sentence shall take precedence over the provisions of any
other plan, arrangement or agreement governing the Executive’s rights and entitlements to any benefits or compensation. 

  
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	5.	 ARBITRATION AND LITIGATION 

Any dispute, controversy or claim arising out of or in respect to this Agreement (or its validity, interpretation or
enforcement) or the subject matter hereof must be submitted to and settled by arbitration conducted before a single arbitrator or, at the election of the Company or the Executive, a panel of arbitrators (chosen from a list of arbitrators provided by
the American Arbitration Association with each party hereto taking alternate strikes and the remaining arbitrator or arbitrators, as applicable, hearing the dispute). 

By agreeing to arbitrate all disputes related to this Agreement, the Company and the Executive acknowledge, among other
things, that they are waiving the right to have the dispute heard by a court of law or equity and the right to a jury trial. 

The arbitration will be conducted in Clark County, Nevada, in accordance with the then current rules of the American
Arbitration Association or its successor. The arbitration of such issues, including the determination of any amount of damages suffered, will be final and binding upon the parties to the maximum extent permitted by law. The decision of the
arbitrator or the panel, as applicable, shall be in writing and signed by the arbitrator. A copy of the arbitrator’s or the panel’s decision, as applicable, will be provided to each party. The arbitrator or panel, as applicable, in such
action will not be authorized to change or modify any provision of this Agreement. Judgment upon the award rendered by the arbitrator or the panel, as applicable, may be entered by any court having jurisdiction thereof. The parties consent to the
jurisdiction of the Supreme Court of the State of Nevada and of the U.S. District Court for the District of Nevada for all purposes in connection with arbitration, including the entry of judgment of any award. 

The Company shall advance the arbitrator’s or the panel’s fees, as applicable, subject to the provisions of
Section 2(a), however, the arbitrator or the panel, as applicable, will award reasonable legal fees and expenses (including arbitration costs) to the prevailing party upon application therefor. The
non-prevailing party may thus incur greater expenses under arbitration than under traditional court litigation. 

Except as may be necessary to enter judgment upon the award or to the extent required by applicable law, all claims, defenses
and proceedings (including, without limiting the generality of the foregoing, the existence of the controversy and the fact that there is an arbitration proceeding) shall be treated in a confidential manner by the arbitrator or the panel, as
applicable, the parties and their counsel, and each of their agents and employees, and all others acting on behalf or in concert with them. Without limiting the generality of the foregoing, no one shall divulge to any third party or person not
directly involved in the arbitration, the contents of the pleadings, papers, orders, hearings, trials, or awards in the arbitration, except as may be necessary to enter judgment upon an award as required by applicable law. Any court proceedings
relating to the arbitration hereunder, including, without limiting the generality of the foregoing, to prevent or compel arbitration to perform, correct, vacate or otherwise enforce an arbitration award, shall be filed under seal with the court, to
the extent permitted by law. 

  
 -9- 

	6.	 BENEFITS AND BINDING EFFECT 

This Agreement shall inure to the benefit of and be binding upon the Company, its successors and assigns, including but not
limited to any corporation, person or other entity which may acquire all or substantially all of the assets and business of the Company or any corporation with or into which the Company may be consolidated or merged, and the Executive, his heirs,
executors, administrators and legal representatives, provided that the obligations of the Executive hereunder may not be delegated. 
  

	7.	 OTHER AGREEMENTS 

The Executive represents that the execution and performance of this Agreement will not result in a breach of any of the terms
and conditions of any employment or other agreement between the Executive and any third party. 
 Provided that the Company
duly performs all of its obligations (if any) arising by virtue of a termination of employment of the Executive, the Executive will not publicly disparage the Company or its officers, directors, employees or agents and will refrain from any action
which could reasonably be expected to cause material adverse public relations or embarrassment to the Company or to any of such persons. Similarly, the Company (including its officers, directors, employees and agents) will not disparage the
Executive and will refrain from any action which could reasonably be expected to result in embarrassment to the Executive or to materially and adversely affect his opportunities for employment. The preceding two (2) sentences shall not apply to
disclosures required by applicable law, regulation or order of a court or governmental agency. 
 The Company may withhold
from any amounts payable under this Agreement all federal, state, local and foreign taxes as may be required to be withheld pursuant to any applicable law or regulation. 
  

	8.	 NOTICES 

All notices or other communications relating to this Agreement shall be in writing and delivered personally or sent by
registered or certified mail, postage prepaid and return receipt requested, to the party concerned at the address set forth below: 
  

			
	 If to the Company, to:
	  	 Southwest Gas Holdings, Inc.

		  	 5241 Spring Mountain Road

		  	 Las Vegas, Nevada 89150

		  	 Attn: General Counsel

		
	 If to the Executive, to:
	  	 [●]

 Either party may change the address to which notices are to be sent to it by giving ten
(10) days written notice of such change of address to the other party in the manner provided above for 

  
 -10- 

 
giving notice. Notices will be considered delivered on the date of personal delivery or on the date of deposit in the United States mail in the manner provided for giving notice by mail. 

 

	9.	 EXECUTIVE ACKNOWLEDGMENT AND SECTION 409A 

The Executive acknowledges and agrees that he has consulted with and relied exclusively on his own counsel regarding the tax
effects of this Agreement and that the Company shall have no liability or obligation with respect to any tax imposed by Section 409A, or other Code section, on the Executive as a result of the transactions and payments contemplated by this
Agreement. 
 The parties agree that this Agreement shall be construed and interpreted to the maximum extent possible to
comply with Section 409A. 
  

	10.	 ENTIRE AGREEMENT 

The entire understanding and agreement among the parties has been incorporated into this Agreement, and this Agreement
supersedes all other agreements, negotiations, and understandings between the Executive and the Company with respect to the subject matter hereof. This Agreement may not be amended orally, but only by an agreement in writing signed by both parties.

  

	11.	 GOVERNING LAW 

This Agreement shall be governed by and interpreted in accordance with the laws of the State of Nevada. It is intended by the
parties that this Agreement be interpreted in accordance with its fair and simple meaning, not for or against either party, and neither party shall be deemed to be the drafter of this Agreement. 

 

	12.	 CAPTIONS; COUNTERPARTS 

The section headings and captions included herein are for convenience and shall not constitute a part of this Agreement. 

This Agreement may be executed simultaneously in two (2) or more counterparts, each of which shall be deemed an original,
but all of which shall together constitute one (1) and the same Agreement. 
  

	13.	 SEVERABILITY 

If any portion or provision of this Agreement is determined by arbitration or by a court of competent jurisdiction to be
invalid, illegal or unenforceable, the remaining portions or provisions hereof shall not be affected. 
 (signature page follows) 

  
 -11- 

 IN WITNESS WHEREOF, this amended and restated Change in Control Agreement has
been executed by the parties hereto as of the date first written above. 
  

			
	 SOUTHWEST GAS HOLDINGS, INC.

		
	 By:
	 	  

		 	 [●]

		 	 Chief Executive Officer

	
	 SOUTHWEST GAS CORPORATION

		
	 By:
	 	  

		 	 [●]

		 	 Chief Executive Officer

 
			
	
	 EXECUTIVE:

	
	  

	 [●]

  
 -12-

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