Document:

EX-10.(dddd)

 Exhibit 10(dddd) 

PRIVILEGED AND CONFIDENTIAL 
 April 28, 2014 

Energy Future Holdings Corp. 
 Energy Future Intermediate
Holdings Company LLC 
 Energy Plaza 
 1601 Bryan Street 

Dallas, TX 75201 
  

	 	Re:	Investment Commitment 

 Ladies and Gentlemen: 

Reference is made to the Restructuring Support and Lock-Up Agreement, dated as of April 28, 2014 (the “Restructuring Support
Agreement”), by and among Energy Future Holdings Corp. (“EFH”), Energy Future Intermediate Holding Company LLC (“EFIH”), and certain of their affiliates (collectively, the “Debtors”), the
other parties thereto, and parties listed on the signature pages hereto (the “Initial Commitment Parties”), and the term sheets and other documents attached to the Restructuring Support Agreement, pursuant to which EFH and EFIH
intend to engage in a restructuring of their existing liabilities in accordance with the Bankruptcy Code (the “Restructuring”). Capitalized terms used in this letter agreement and not otherwise defined herein shall have the meanings
provided in the Restructuring Support Agreement or the Restructuring Term Sheet attached thereto (subject to Section 2 of the Restructuring Support Agreement). 

The Restructuring contemplates, among other things, that the Commitment Parties and the Selected Partners, if any (as defined below), will,
severally and not jointly, backstop a second lien subordinated secured debtor-in-possession note facility in accordance with the terms of the Second Lien DIP Notes Term Sheet (as defined below) (the “Second Lien DIP Facility”) that
consists of (a) non-amortizing notes in an amount up to $1,900,000,000 (the “Tranche A Notes”) and (b) non-amortizing, non-interest-bearing notes issued in full satisfaction of the Funding PIK Fee (as defined below) (the
“Tranche B Notes” and, together with the Tranche A Notes, the “Second Lien DIP Notes”). The Debtors will offer the right to purchase the Tranche A Notes to (i) Holders of General Unsecured Claims Against
the EFIH Debtors (such Tranche A Notes, the “Tranche A-1 Notes”), subject to ratable reduction from participation by Selected Partners (as defined below), if any, in an aggregate amount not to exceed $400,000,000 and
(ii) General Unsecured Claims Against EFH held by Fidelity (such Tranche A Notes, the “Tranche A-3 Notes”), subject to the conditions set forth in the Restructuring Support Agreement and the term sheet attached hereto as
Exhibit A (the “Second Lien DIP Notes Term Sheet”) . 
 Upon the Effective Date, the Second Lien DIP Notes
shall be subject to conversion to Reorganized EFH Common Stock (the “Equity Conversion”), on the terms set forth in the Restructuring Support Agreement, the term sheet attached hereto as Exhibit B (the “Equity
Conversion Term Sheet”), and the Conversion Agreement (as defined in the Equity Conversion Term Sheet). 

 To provide assurances that the issuance of the Second Lien DIP Notes will be consummated, the
Initial Commitment Parties hereby, severally and not jointly, commit to backstop the Second Lien DIP Notes in the respective percentages set forth on Schedule I hereto, on the terms and conditions described herein (including in the Second
Lien DIP Notes Term Sheet and the Equity Conversion Term Sheet) and the Restructuring Support Agreement; provided, however, that the aggregate amount of such backstop shall not exceed $1.9 billion ($1,900,000,000) (the
“Investment Commitment”). The Required Commitment Parties (as defined below) may from time to time (in their sole discretion), up to the date of funding of the Second Lien DIP Facility, select certain partners to transfer the
Participation Rights to or to participate in the Investment Commitment in an aggregate amount not to exceed $400,000,000 of the aggregate Investment Commitment, in each case on prior written consent of EFH and EFIH unless such party is included on
Schedule III hereto (the “Selected Partners”); and any such inclusion of Selected Partners by the Required Commitment Parties shall ratably reduce each Commitment Party’s portion of the Investment Commitment;
provided, however, that such Selected Partner shall execute a joinder to this letter agreement, the Restructuring Support Agreement (in accordance with Section 4.04 thereof), and any applicable definitive document for the Second Lien DIP
Notes; provided, further, that if a proposed transfer to a Selected Partner were to cause a Commitment Party to transfer more than 50% of its portion of the Investment Commitment (when taken in the aggregate with all other transfers of
such Commitment Party’s portion of the Investment Commitment in accordance with the below), then the Required Commitment Parties may choose to (x) reduce the amount of the Investment Commitment to be transferred to the Selected Partner to
an amount in which such Commitment Party would no longer be transferring 50% (in the aggregate) of its portion of the Investment Commitment or (y) cancel the contemplated transfer of the Investment Commitment. In addition, an Initial Commitment
Party may in its sole discretion select a Selected Partner, or other party otherwise consented to by EFH and EFIH (the “Transferee Commitment Parties”) to purchase all or a portion of an Initial Commitment Party’s portion of
the Investment Commitment; provided, that, with respect to an affiliate Transferee Commitment Party, the transferring Initial Commitment Party’s obligations with respect to the transferred portion of the Investment Commitment
shall remain; provided, further, all Transferee Commitment Parties shall execute a joinder to this letter agreement, the Restructuring Support Agreement (in accordance with Section 4.04 thereof), and any applicable definitive
document for the Second Lien DIP Notes; provided, further, if such transfer were to cause such Initial Commitment Party to transfer more than 50% of its portion of the Investment Commitment (when taken in the aggregate with all other
transfers of its portion of the Investment Commitment by such Initial Commitment Party), such proposed transfer shall be deemed null and void ab initio. Subject to the foregoing, following any such sale or transfer by an Initial Commitment
Party of all or a portion of its Investment Commitment, such Initial Commitment Party’s obligations with respect to such sold or transferred Investment Commitment shall cease. No Commitment Party other than an Initial Commitment Party shall be
permitted to transfer any portion of the Investment Commitment. For purposes of this letter agreement, (i) the term “Commitment Party” shall mean, collectively, the Initial Commitment Parties, the Selected Partners, and the
Transferee Commitment Parties, and Schedule I hereto shall be updated accordingly to account for any additional Commitment Parties and (ii) the term 

  
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“Required Commitment Parties” shall mean, at any relevant time, three (3) Initial Commitment Parties (other than a Defaulting Commitment Party) that manage and/or advise
funds or accounts that beneficially own, collectively, at least 66.6% of the Investment Commitment. Notwithstanding anything to the contrary contained herein, the identity of each Commitment Party shall be reasonably acceptable to the Borrowers.

 In consideration for the Investment Commitment and on the terms set forth in this Commitment Letter and the Restructuring Support
Agreement, EFIH shall (A) pay Pro Rata based on the respective percentages set forth on Schedule II hereto an amount in cash equal to 0.46% of $1.9 billion ($1,900,000,000) to the Initial Commitment Parties (the “Execution
Fee”), which such Execution Fee shall be paid upon execution of this letter agreement, (B) subject to entry of the Approval Order, pay Pro Rata based on the respective percentages set forth on Schedule II hereto an amount in
cash equal to 0.54% of $1.9 billion ($1,900,000,000) to the Initial Commitment Parties (the “Approval Fee”), which Approval Fee shall be paid within 5 days of entry of the Approval Order, (C) subject to entry of the Approval
Order and the funding of the Second Lien DIP Facility, pay GSO and Avenue an arranger fee of $1,000,000 each in cash (the “Arranger Fees”), which Arranger Fees shall be paid within 5 days of entry of the Approval Order,
(D) subject to entry of the Approval Order and the funding of the Second Lien DIP Facility, pay Pro Rata based on the respective percentages set forth on Schedule I hereto an amount in cash equal to 1.0% of $1.9 billion
($1,900,000,000) to the Commitment Parties (the “Funding Cash Fee”), which Funding Cash Fee shall become due and be paid in full by EFIH simultaneously with the funding of the Second Lien DIP Facility, and (D) issue Pro Rata
based on the respective percentages set forth on Schedule I hereto an amount equal to 5.00% of $1.9 billion ($1,900,000,000) to the Commitment Parties in the form of Tranche B Notes (the “Funding PIK Fee” and, collectively
with the Execution Fee, the Approval Fee, the Arranger Fees, and the Funding Cash Fee, the “Commitment Fee”), which Funding PIK Fee shall become due and be paid in full by EFIH simultaneously on the funding of the Second Lien DIP
Facility. EFH and EFIH agree that the Commitment Fee and the Alternative Transaction Fee shall be nonrefundable once paid on the terms set forth in this letter agreement and that the Commitment Fee, the Alternative Transaction Fee and any other
payments hereunder shall be paid without setoff or recoupment and shall not be subject to defense or offset on account of any claim, defense or counterclaim. For the avoidance of doubt, the Approval Fee, the Arranger Fee, and the Alternative
Transaction Fee shall not be paid to any Defaulting Commitment Party. 
 If and to the extent that any one Commitment Party or multiple
Commitment Parties do not satisfy its or their obligations in respect of its or their Pro Rata portion of the Investment Commitment (each such Commitment Party, a “Defaulting Commitment Party”), then each of the remaining
non-defaulting Commitment Parties (the “Non-Defaulting Commitment Parties”) shall have the right, but not the obligation (the “Default Purchase Right”), to assume all or a portion of the Investment Commitment that
was to be funded by such Defaulting Commitment Party (the “Defaulted Investment Commitment”). To the extent that the Non-Defaulting Commitment Parties (in the aggregate) desire to assume more than the total amount of the Defaulted
Investment Commitment, then such Defaulted Investment Commitment shall be allocated among the Non-Defaulting Commitment Parties electing to assume the Defaulted Investment Commitment Pro Rata based on the respective percentages set forth on
Schedule I hereto; provided, however, that if a Non-Defaulting Commitment Party is a Selected Partner, then such Non-Defaulting Commitment Party may only assume such portion of the Defaulted

  
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Investment Commitment so as not to exceed $400,000,000 of the Investment Commitment (calculated with all other Selected Partners). Each Defaulting Commitment Party shall immediately pay to each
Non-Defaulting Commitment Party that elects to assume all or a portion of the Defaulted Investment Commitment, any portion of the Execution Fee, Approval Fee, and Arranger Fee received by such Defaulting Commitment Party, directly or indirectly,
based on such Non-Defaulting Party’s Pro Rata share of the Defaulted Investment Commitment so assumed by such Non-Defaulting Commitment Party. For purposes of the Commitment Percentages set forth on Schedule I hereto, the Commitment
Percentage for each of the Non-Defaulting Commitment Parties electing to exercise the Default Purchase Right shall be adjusted accordingly to reflect the reallocation of the Defaulting Commitment Party’s Commitment Percentage among the
Non-Defaulting Committing Parties electing to exercise the Default Purchase Right (such that the total Commitment Percentage for the Non-Defaulting Commitment Parties shall equal 100%). In the event that the entire Defaulted Investment Commitment is
not assumed by the Non-Defaulting Commitment Parties, the Required Commitment Parties may assign to a Selected Partner all or the remaining portion of the Defaulted Investment Commitment and following such assignment, Schedule I shall be
accordingly adjusted as set forth in the immediately foregoing sentence. 
 Whether or not the transactions contemplated hereby are
consummated, but subject to entry of the Approval Order, the Commitment Parties (other than any Defaulting Commitment Party and their respective affiliates and representatives, the “Indemnified Parties”) shall be indemnified and
held harmless by EFH and EFIH, on a joint and several basis, from and against any and all losses, claims, damages, liabilities and expenses as a result of a claim by a third party, which any such Indemnified Parties may incur, have asserted against
it or be involved in as a result of or arising out of or in any way related to this letter agreement, the matters and transactions referred to herein, the proposed Investment Commitment contemplated hereby, the use of proceeds thereunder or any
related transaction or any claim, litigation, investigation or proceeding relating to any of the foregoing, regardless of whether any of such Indemnified Parties is a party thereto, and to reimburse each of such indemnified persons for any legal or
other expenses incurred in connection with any of the foregoing from the date of the execution of this letter agreement until the termination of this letter agreement (for the avoidance of doubt, any claim for indemnification made after termination
of this letter agreement for any event arising prior to the termination of this letter agreement shall not thereafter be barred and all claims for indemnification hereunder shall survive until finally resolved); provided, however, that
the foregoing indemnity will not, as to any indemnified person, apply to losses, claims, damages, liabilities or related expenses to the extent they have resulted from the bad faith or willful misconduct of such indemnified person (as determined by
a court of competent jurisdiction in a final and non-appealable judgment). The terms set forth in this paragraph shall survive termination of this letter agreement. This letter agreement is not assignable (a) by either of EFH or EFIH,
without the prior written consent of the Required Commitment Parties (and any purported assignment without such consent shall be null and void ab initio), or (b) by any of the Commitment Parties, except to (i) its affiliates,
subject to the terms and conditions contained herein (provided that such Commitment Party shall remain liable hereunder) or a Transferee Commitment Party as set forth above and (ii) the Commitment Parties may assign all or a portion of the
Commitment Parties’ obligations hereunder to the Selected Partners as set forth above. This letter agreement is intended to be solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any
rights in favor of, any person other than the parties hereto. 

  
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 The obligations of the Commitment Parties to fund the Investment Commitment are conditioned upon
satisfaction of, inter alia, each of the conditions set forth herein, in the Restructuring Support Agreement and in the Second Lien DIP Notes Term Sheet. 

This letter agreement shall terminate upon the termination of the Restructuring Support Agreement. Subject to entry of the Approval
Order, if EFIH enters into definitive documentation with respect to a reorganization, restructuring, merger, consolidation, share exchange, rights offering, equity investment, business combination, recapitalization or similar transaction (including
the sale of all or substantially all of the assets of EFH, EFIH, or any other Debtor) involving EFIH on equal or better terms and conditions for EFIH than those contemplated in the Restructuring Support Agreement and the Term Sheet (such
transaction, an “Alternative Transaction”), the Debtors shall pay Pro Rata based on the respective percentages set forth on Schedule II hereto, an amount in cash equal to 3.00% of $1.9 billion ($1,900,000,000) to the Initial
Commitment Parties (the “Alternative Transaction Fee”), which Alternative Transaction Fee shall become due and be paid in full within 5 days Bankruptcy Court approval of such Alternative Transaction. For the avoidance of
doubt, the Alternative Transaction Fee shall not become due or be payable if the Debtors consummate an Alternative Transaction because of the failure of the Commitment Parties to fulfil their obligations under the Investment Commitment. 

All rights and remedies provided in this letter agreement are cumulative and not exclusive of any other rights or remedies that may be
available to EFH, EFIH, and the Commitment Parties, including (without limitation) all rights to specific performance, or as otherwise provided by law, equity, statute, or in any other agreement entered into in connection with any of the
transactions contemplated hereunder, including as to any Defaulting Commitment Party. 
 Upon execution of this letter agreement, EFH shall
or shall cause EFIH to promptly pay (i) Akin Gump Strauss Hauer & Feld LLP, by wire transfer of immediately available funds, an advance payment of $3,000,000 (the “Akin Gump Advance Payment”) and (ii) Centerview
Partners LLC, by wire transfer of immediately available funds an advance payment of $675,000 (the “Centerview Advance Payment,” and together with the Akin Gump Advance Payment, the “Advance Payment”). In accordance
with the terms of that certain amended and restated engagement letter with EFIH dated April 27, 2014 (as may be amended or modified from time to time, the “Centerview Engagement Letter”), EFH shall or shall cause EFIH to
promptly pay Centerview an aggregate arrangement payment of $5,000,000, which shall be paid as follows (x) $1,250,000 shall be paid upon the execution of this letter agreement (the “Arrangement Payment I”),
(y) $1,250,000 shall be paid simultaneously be paid within 2 days of entry of the EFIH Second Lien DIP Order (the “Arrangement Payment II”) and (z) $2,500,000 shall be paid simultaneously with the funding of the Second
Lien DIP Notes (the “Arrangement Payment III,” and together with the Arrangement Payment I and Arrangement Payment II, the “Arrangement Payment”). Upon entry of the Approval Order, EFH and EFIH agree to pay, within
15 business days of delivery of an invoice (which shall include reasonable supporting detail, which may be redacted to protect privileged or confidential information), the unpaid reasonable and 

  
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documented fees and expenses of Akin Gump Strauss Hauer & Feld LLP, pursuant to that certain engagement letter with EFIH dated May 24, 2013 (as may be amended or modified from time
to time), Centerview Partners LLC, pursuant to the Centerview Engagement Letter and, without limitation, all other out-pocket fees, costs and expenses of the Commitment Parties, including the fees and expenses of the Commitment Party Professionals
incurred previously or in the future relating to the Restructuring or the Chapter 11 Cases, pursuant to applicable engagement letters entered into between such professionals and EFH or EFIH, as applicable (such fees and expenses, the
“Professional Fees”). Payment of the Advance Payment, the Arrangement Payment and Professional Fees shall not be subject to allowance by the Bankruptcy Court; provided, however, that EFH and EFIH shall promptly provide
copies of invoices received on account of the Professional Fees to the U.S. Trustee and counsel to any Committee appointed in the Cases, and the Bankruptcy Court shall have exclusive jurisdiction over any objections raised to the invoiced amount of
the Professional Fees, which objections may only be raised within 15 business days after delivery of an invoice(s) therefor. In the event that within 15 business days from delivery of such invoices EFH, EFIH, the U.S. Trustee, or counsel to the
Committee raises an objection to a particular invoice, and the parties are unable to resolve such objection, the Court shall hear and determine such dispute; provided that payment of invoices shall not be delayed based on any such objections
and the relevant professional shall only be required to disgorge amounts objected to upon being “so ordered” pursuant to a final order of the Bankruptcy Court. EFH and EFIH agree that the Advance Payment, Arrangement Payment and
Professional Fees shall be nonrefundable and that the Advance Payment, Arrangement Payment and Professional Fees and any other payments hereunder shall be paid without setoff or recoupment and shall not be subject to defense or offset on account of
any claim, defense or counterclaim. Notwithstanding anything to the contrary herein, the Debtors shall not be obligated for any of the professional fees or other obligations described in this paragraph incurred after this letter agreement
terminates. 
 This letter agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York,
without giving effect to the principles of conflict of laws that would require the application of the law of any other jurisdiction. By its execution and delivery of this letter agreement, each of the parties hereto hereby irrevocably and
unconditionally agrees for itself that any legal action, suit or proceeding against it with respect to any matter under or arising out of or in connection with this letter agreement or for recognition or enforcement of any judgment rendered in any
such action, suit or proceeding, may be brought in either a state or federal court of competent jurisdiction in the State of New York. By execution and delivery of this letter agreement, each of the parties hereto hereby irrevocably accepts and
submits itself to the nonexclusive jurisdiction of each such court, generally and unconditionally, with respect to any such action, suit or proceeding. Notwithstanding anything to the contrary herein, upon the commencement of the Chapter 11 Cases,
each of the parties hereto hereby agrees that, if the petitions have been filed and the Chapter 11 Cases are pending, the Bankruptcy Court shall have exclusive jurisdiction over all matters arising out of or in connection with this letter agreement.
EACH PARTY HERETO UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING REFERRED TO ABOVE. 
 This letter agreement may not
be amended or waived except in a writing signed by EFH, EFIH, and the Initial Commitment Parties. Notwithstanding the foregoing, this letter agreement 

  
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may be amended by the Initial Commitment Parties to add Selected Partners and Transferee Commitment Parties as Commitment Parties in accordance with the terms of this letter agreement. This
letter agreement may be executed in several counterparts, each of which shall be deemed to be an original, and all of which together shall be deemed to be one and the same agreement. Execution copies of this letter agreement may be delivered by
facsimile, electronic mail or otherwise, each of which shall be deemed to be an original for the purposes of this paragraph. 

Notwithstanding anything contained herein, each Initial Commitment Party acknowledges that its decision to enter into this letter agreement
has been made by such Commitment Party independently of any other Commitment Party. 
 This letter agreement (including the exhibits and
schedules hereto), along with the Restructuring Support Agreement (including the exhibits and schedules thereto), constitutes the entire understanding among the parties hereto with respect to the subject matter hereof and replaces and supersedes all
prior agreements and understandings, both written and oral, between the parties hereto with respect to the subject matter hereof, and shall become effective and binding upon (i) the mutual exchange of fully executed counterparts by the EFH and
EFIH and all of the Commitment Parties, and (ii) payment by EFH or EFIH of the Execution Fee, the Advance Payment, the Arranger Fee, and the Arrangement Payment I in accordance with the above. 

[SIGNATURE PAGES FOLLOW] 

  
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 If the foregoing is in accordance with your understanding of our agreement, please sign this
letter in the space indicated below and return it to us. 
  

					
	Very truly yours,
		
		 	[INITIAL COMMITMENT PARTIES]
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

 Signature page to letter agreement. 

 THE FOREGOING IS HEREBY 

AGREED TO AND ACCEPTED: 
  

			
	ENERGY FUTURE HOLDINGS CORP.
		
	By:	 	 /s/ ANTHONY R. HORTON

	Name:	 	
	Title:	 	SVP & Treasurer

  

			
	ENERGY FUTURE INTERMEDIATE HOLDING COMPANY LLC
		
	By:	 	 /s/ ANTHONY R. HORTON

	Name:	 	
	Title:	 	SVP & Treasurer

  
  
  

 EXHIBIT A 

Second Lien DIP Notes Term Sheet 

 Execution Version 

ENERGY FUTURE HOLDINGS CORP. 

ENERGY FUTURE INTERMEDIATE HOLDING COMPANY LLC 

SECOND LIEN SUBORDINATED SECURED DEBTOR IN
POSSESSION NOTES FACILITY TERM SHEET 

Capitalized terms used but not defined herein shall have the meanings set forth in the letter agreement, dated as of April 29, 2014
(the “Commitment Letter”), to which this Term Sheet is attached, or the Restructuring Support Agreement (as defined in the Commitment Letter). 
  

			
	Issuers	  	Energy Future Intermediate Holding Company LLC, a Delaware limited liability company (“EFIH”), and EFIH Finance Inc., a Delaware corporation (collectively, the “Issuers”).
		
	Guarantors	  	All of the Issuers’ direct and indirect domestic restricted subsidiaries that guarantee the EFIH First Lien DIP Financing (collectively, the “Guarantors”) in the Chapter 11 Cases. The Issuers and the Guarantors
are referred to herein as “Note Parties” and each, a “Note Party.” All obligations of the Issuers under the Second Lien DIP Facility (as defined below) will be unconditionally guaranteed by the Guarantors.
		
	Backstop Commitment	  	To be provided by the entities set forth on Schedule I to the Commitment Letter on the date hereof (and defined as Initial Commitment Parties therein) and such other parties that become Commitment Parties from time to
time pursuant to the terms of the Commitment Letter. The Commitment Parties will pursuant to the Commitment Letter, severally and not jointly, backstop the Second Lien DIP Facility in an amount not to exceed $1,900,000,000 (the “Backstop
Commitment”) based on the respective percentages set forth on Schedule I to the Commitment Letter.
		
	Second Lien DIP Facility Rights Holders	  	The following persons shall have the right to participate in the Second Lien DIP Facility (such persons, the “Second Lien DIP Facility Rights Holder,” and such rights, the “Participation
Rights”): (i) (a) All Holders of EFIH Unsecured Note Claims shall receive their Pro Rata share of 91% of the Participation Rights; and (b) Fidelity shall receive their Pro Rata share of 9% of the Participation Rights which
participation shall be in the form of Tranche A-3 Note; provided, however, General Unsecured Claims Against EFH may participate in the Equity Conversion by purchasing such Tranche A-3 Notes held by Fidelity, if the Required Transfer as
described below has not occurred. Moreover, Fidelity shall receive an $11.25 million payment from EFIH in connection with the exercise of any Participation Rights. If at any time (a) the IRS shall have denied the Debtors’ Ruling Request or
shall have informed the Debtors or their counsel, whether orally or in writing, of its decision not to issue one or

			
		  	 more of the Required Rulings (the “PLR Denial”) and (b) the Oncor TSA Amendment has not yet been approved, the Required
Commitment Parties shall have the sole and exclusive right to require the holders of any Tranche A-3 Notes to transfer such notes to the Commitment Parties (the “Required Transfer”) for a purchase price equal to the sum of (i) the
par amount of such notes plus accrued and unpaid interest (including the PIK Interest (as defined below)), which amount shall be payable on the purchase date, (ii) in the event such assignment is consummated before the payment of the One-Time PIK
Fee (as defined below), 10% of the par amount of such notes plus accrued and unpaid PIK Interest, if any (but not, for the avoidance of doubt, any accrued and unpaid cash interest), which amount shall be payable on the purchase date, and (iii) a Pro
Rata share of any Prepayment Fee (as defined below) subsequently paid on such Tranche A-3 Notes (which amount shall be paid by EFIH to the holders of the Tranche A-3 Notes immediately prior to such assignment and not the holders of the Tranche A-3
Notes as of the date that the Prepayment Fee is due and owing).
  
 The Participation
Rights of Holders of General Unsecured Claims Against the EFIH Debtors shall be subject to ratable reduction from participation by Selected Partners (if any), in an aggregate amount not to exceed $400,000,000.

		
	Administrative Agent	  	To be determined.
		
	Collateral Agent	  	To be determined.
		
	DIP Facility	  	A second lien subordinated secured debtor-in-possession note facility that consists of (a) the Tranche A Notes, composed of (i) the Tranche A-1 Notes (the “Tranche A-1 Notes”) issued to Holders of EFIH Unsecured
Note Claims pursuant to the Second Lien DIP Procedures, (ii) the Tranche A-2 Notes (the “Tranche A-2 Notes”) issued to each Commitment Party solely as a result of its obligation under the Investment Commitment, the Selected
Partners, Post-Funding Partners and Specified Consultants, and (iii) the Tranche A-3 Notes (the “Tranche A-3 Notes” and, together with the Tranche A-1 Notes and Tranche A-2 Notes, the “Tranche A Notes”) issued
to Fidelity, as a Holder of General Unsecured Claims Against EFH, in each case, which will be available to be drawn in a single drawing on the Closing in an amount up to $1,900,000,000 to consummate the Second Lien Refinancing, and (b) the Tranche B
Notes.

  
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	Second Lien DIP Procedures	  	The procedures for offering Participation Rights to eligible Second Lien DIP Facility Rights Holders under the Second Lien DIP Facility shall be on terms and conditions which are consistent with this Term Sheet and otherwise
satisfactory to the Required Commitment Parties, EFH and EFIH (the “Second Lien DIP Procedures”) in advance of the consummation of the Second Lien DIP Facility.
		
		  	The record date that shall determine the parties entitled to Participation Rights shall be the date of the commencement of the offering to eligible Second Lien DIP Facility Rights Holders.
		
		  	The Second Lien DIP Facility shall be funded by any and all Second Lien DIP Facility Rights Holders that elect to participate in their Pro Rata share of the Second Lien DIP Facility and, with respect to any unfunded portion of the
Second Lien DIP Facility, Pro Rata by the Commitment Parties in accordance with the terms of the Commitment Letter (such funding parties, together, with their successors and assigns, the “Note Purchasers”); provided that no
Commitment Party shall be permitted or required to exercise any participation rights if, after giving effect to such participation, the aggregate principal amount of the Second Lien DIP Facility to be provided by such Commitment Party when
aggregated with the aggregate principal amount of the Second Lien DIP Facility provided by affiliates of such Commitment Party would exceed such Commitment Party’s Investment Commitment, provided, however, that such Commitment Party may
exceed such Commitment Party’s Investment Commitment to the extent necessary to satisfy any Commitment of a Defaulting Commitment Party; provided, further, that any party electing to exercise such participation shall execute a joinder to
the Restructuring Support Agreement and Conversion Agreement as a precondition to any such participation becoming effective.
		
	Second Lien DIP Facility Termination Date	  	All Second Lien DIP Notes shall become due and payable on the DIP Facility Termination Date (as defined below), subject to the Equity Conversion.
		
		  	The “DIP Facility Termination Date” shall be the earliest of (a) the Scheduled Termination Date (as defined below), (b) the consummation of any Section 363 sale, (c) the effective date of a plan of reorganization
filed in the Chapter 11 Cases that is confirmed pursuant to an order entered by the Bankruptcy Court or (d) the acceleration of the notes and the termination of the commitment with respect to the Second Lien DIP Facility in accordance with the DIP
Documents (as defined below).
		
		  	“Scheduled Termination Date” means the date that is 24 months from the date the Second Lien DIP Facility is funded.

  
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	Equity Conversion	  	Upon the Effective Date, the Second Lien DIP Notes shall be subject to conversion to Reorganized EFH Common Stock, on the terms set forth in the Restructuring Support Agreement, the Equity Conversion Term Sheet, and the Conversion
Agreement (as defined in the Equity Conversion Term Sheet).
		
		  	If the Equity Conversion does not occur, the Tranche B Notes shall convert to Tranche A-2 Notes.
		
	Use of Proceeds	  	Proceeds of the Second Lien DIP Facility will be used (together with cash on hand and proceeds of the EFIH First Lien DIP Financing) to (i) repay in full all outstanding principal plus accrued and unpaid interest at the non-default
rate due and owing under the EFIH Second Lien Notes (which shall not include any alleged premiums, fees or claims relating to the repayment of such Claims) to Non-Settling EFIH Second Lien Note Holders and (ii) repay the EFIH Second Lien Notes held
by Settling EFIH Second Lien Note Holders in accordance with the EFIH Second Lien Settlement (clauses (i) and (ii) collectively, the “Second Lien Refinancing”).
		
	DIP Documents	  	The Second Lien DIP Facility will be documented by a note purchase agreement (the “Note Purchase Agreement”) and other guarantee, security, intercreditor, and other relevant documentation (together with the Note
Purchase Agreement, collectively, the “DIP Documents”) reflecting the terms and provisions set forth in this Term Sheet and otherwise in form and substance reasonably satisfactory to the Required Commitment Parties and the Issuers;
provided, however, that such DIP Documents will be drafted in form and substance consistent with the documents governing the EFIH First Lien DIP Financing (the “First Lien DIP Documents”), with adjustments made to
reflect this Term Sheet. It is agreed that each “basket” or “cushion” set forth in the covenants and events of default contained in the DIP Documents shall be at least 15% more than the corresponding provision in the First Lien
DIP Documents.
		
	Transferability of Participation Rights	  	Subject to compliance with all applicable securities laws, unless otherwise agreed by the Issuers, the Participation Rights will only be transferable to affiliates of Second Lien DIP Facility Rights Holders and Selected Partners;
provided, however, the Participation Rights may not be transferred, and any such transfer shall be null and void ab initio if, assuming the Restructuring Transactions were to be consummated immediately upon such Transfer, the
transferee and/or its affiliates of such transfer were to obtain or have beneficial ownership of, in the aggregate, more than fifty percent (50%) or more of the Reorganized EFH Common Stock.

  
 4 

			
		  	Notwithstanding anything to the contrary herein, the Holders of EFIH Senior Toggle Notes shall not transfer such EFIH Senior Toggle Notes apart from the Pro Rata share of the Participation Rights attributable to such EFIH Senior
Toggle Notes to any party other than affiliates or Selected Partners, and any such transfer shall be retroactively void.
		
		  	For the avoidance of doubt, any transferee of the Participation Rights described above shall execute a joinder to the Restructuring Support Agreement and Conversion Agreement as a precondition to any transfer described above
becoming effective.
		
	Transferability of Second Lien DIP Notes	  	Subject to compliance with all applicable securities laws, unless otherwise agreed by the Issuers, the Second Lien DIP Notes shall only be transferable to (i) affiliates of a Note Purchaser, (ii) other Note Purchasers and
their respective affiliates, and (iii) such other Persons that are qualified institutional buyers or accredited investors, provided, however, that such transfers of Second Lien DIP Notes are not permitted if, in the reasonable business
judgment of the Issuers and their legal and tax advisors, in consultation with the Commitment Parties, such transfers would adversely (a) affect or delay the Debtors’ ability to obtain the Private Letter Ruling or violate the terms and
conditions of the Private Letter Ruling or (b) affect or delay the Debtors’ ability to obtain the regulatory consents or approval necessary to effectuate the Restructuring Transactions, provided, further, that, any transfer
described above shall be null and void ab initio, if, assuming the Restructuring Transactions were to be consummated immediately upon such Transfer, the transferee of such transfer (other than affiliates transfers) was to obtain beneficial
ownership of, in the aggregate, more than fifty percent (50%) or more of the Reorganized EFH Common Stock.
		
		  	Notwithstanding anything to the contrary herein, the Holders of EFIH Senior Toggle Notes that become Note Purchasers shall not transfer such EFIH Senior Toggle Notes apart from the Pro Rata share of the Second Lien DIP Notes
attributable to such EFIH Senior Toggle Notes and any such transfer shall be retroactively void; provided, however, that any Tranche A-2 Notes purchased by a Commitment Party solely as a result of its obligation to do so under the
Investment Commitment shall be transferrable separately from such Commitment Party’s EFIH Senior Toggle Notes, that the Tranche B Notes shall be transferrable separately from the Commitment Parties’ EFIH Senior Toggle Notes and that any
Tranche A-1

  
 5 

			
		  	Notes transferred to Post-Funding Partners or Specified Consultants pursuant to the provision below shall be transferrable separately from such Commitment Party’s EFIH Senior Toggle Notes.
		
		  	Notwithstanding anything herein to the contrary, at any time prior to the earlier of the DIP Facility Termination Date and the Equity Conversion, the Required Commitment Parties (determined based on the amount of their respective
Investment Commitments immediately prior to the closing of the Second Lien DIP Facility) may require (i) each Note Purchaser holding Tranche A-1 Notes or Tranche A-2 Notes, except those held by Selected Partners, Post-Funding Partners (as defined
below) or Specified Consultants, to sell, at a price of no less than par value of such Second Lien DIP Notes plus accrued but unpaid interest thereon, a Pro Rata portion of its Second Lien DIP Notes to partners selected by the Required Commitment
Parties (the “Post-Funding Partners”) in an amount such that after giving effect to all such sales, the Post-Funding Partners shall own no more than $400,000,000 of principal amount of Second Lien DIP Notes, after taking into
account all Second Lien DIP Notes owned (if any) by the Post-Funding Partners immediately prior to any such sale and any Tranche A-1 Notes received by such Post-Funding Partners pursuant to the above shall automatically become Tranche A-2 Notes (ii)
each Note Purchaser holding Tranche A-1 Notes or Tranche A-2 Notes, except those held by Selected Partners, Post-Funding Partners or Specified Consultants, to sell, at a price of no less than par value of such Second Lien DIP Notes outstanding as of
the Closing less paid interest thereof, to date, a Pro Rata portion of its Second Lien DIP Notes to consultants to the Administrative Agent or Initial Commitment Parties (“Specified Consultants”) in an amount up to $100,000,000 and
any Tranche A-1 Notes received by such Specified Consultant pursuant to the above shall automatically become Tranche A-2 Notes.
		
		  	For the avoidance of doubt, any transferee of Second Lien DIP Notes described above shall execute a joinder to the Restructuring Support Agreement as a precondition to any transfer described above becoming effective.
		
	Interest Rates	  	The Tranche A Notes will bear interest at a fixed rate of 8% per annum, payable in cash on the final business day of each quarter beginning on the first such day after the Closing.
		
		  	If the Bankruptcy Court has not entered an order approving the Oncor TSA Amendment as of the date that is 90 days from the Petition Date, the Tranche A Notes shall bear additional interest at a rate of 4% per annum compounded
quarterly, paid in kind in additional Tranche A Notes, until such time as the Oncor TSA Amendment is approved (the “PIK Interest”).

  
 6 

			
	Default Interest	  	During the continuance of an event of default (as defined in the DIP Documents), overdue amounts on the Tranche A Notes will bear interest at an additional 2% per annum.
		
	Fees	  	If the Bankruptcy Court has not entered an order approving the Oncor TSA Amendment by the date that is one year from the Petition Date, the Issuers shall pay a one-time fee in the amount of 10.00% of the Tranche A Notes and Tranche
B Notes, as applicable, to the Note Purchasers, paid in kind in additional Tranche A Notes and Tranche B Notes, as applicable (the “One-Time PIK Fee”).
		
		  	If the Second Lien DIP Facility is repaid in cash without the consent of the Required Note Purchasers and other than upon acceleration, the Issuers shall pay an optional prepayment fee of $380 million (which payment may be waived
upon the written consent of the Required Note Purchasers (as defined below) in their sole discretion, provided, however, that the Required Note Purchasers may not waive the Prepayment Fee with respect to the Tranche A-3 Notes) (the
“Prepayment Fee”) to the Note Purchasers.
		
		  	Notwithstanding anything to the contrary herein, the Fidelity Repayment (as defined in the Equity Conversion Term Sheet) shall not constitute a repayment in cash of the Second Lien DIP Facility.
		
	Optional Prepayment	  	The Issuers may prepay the Second Lien DIP Notes subject to customary notice periods and payment of breakage costs and the Prepayment Fee (which payment may be waived upon the written consent of the Required Note Purchasers in their
sole discretion, provided, however, that the Required Note Purchasers may not waive the Prepayment Fee with respect to the Tranche A-3 Notes). Notwithstanding anything to the contrary herein, the Fidelity Repayment (as defined in the
Equity Conversion Term Sheet) shall not constitute an Optional Prepayment under the Second Lien DIP Facility and shall not result in the Prepayment Fee being due.
		
	Mandatory Prepayments	  	The DIP Documents will contain mandatory prepayment provisions found in the EFIH First Lien DIP Financing; provided that, (a) notwithstanding anything to the contrary herein, the Second Lien DIP Notes shall not be mandatorily
prepaid unless the EFIH First Lien DIP Financing is mandatorily prepaid first and in full and (b) application of mandatory prepayment amounts shall be subject to the provisions of the Intercreditor Agreement.

  
 7 

			
	Security and Priority	  	All amounts owing by the Issuers under the Second Lien DIP Facility and the obligations of the Guarantors in respect thereof will be secured, subject to (i) the Carve-Out (as defined in the commitment letter dated as of the date
hereof with respect to the EFIH First Lien DIP Facility among EFIH, Deutsche Bank Securities Inc., as Left Lead DIP Facility Arranger (as defined therein), and the other financial institutions party thereto (the “EFIH First Lien DIP
Commitment Letter”)), (ii) the liens granted to secure the EFIH First Lien DIP Financing and other liens and encumbrances permitted by the DIP Documents and (iii) all valid, perfected, enforceable and unavoidable liens as of the Closing
(the “Permitted Liens”), by a second priority perfected security interest in all assets owned by the Issuers that secures the EFIH First Lien DIP Financing, including, without limitation, distributions pursuant to the Oncor TSA so
long as the Oncor TSA Amendment is in effect (the “Collateral”).
		
		  	The liens granted under the Second Lien DIP Facility will be junior only to the (i) the Carve-Out, (ii) the liens granted to secure the EFIH First Lien DIP Financing and other liens and encumbrances permitted by the DIP Documents
and (iii) the Permitted Liens. The Issuers shall use commercially reasonable efforts to obtain the entry of an order providing that the liens under the Second Lien DIP Facility prime, and are in all respects senior to, any Allowed EFIH Second Lien
Makewhole Claims of Non-Settling EFIH Second Lien Note Holders.
		
		  	In the Chapter 11 Cases, the Note Purchasers will be granted in the DIP Order (as defined below) a superpriority administrative claim under section 364(c)(1) of the Bankruptcy Code for the payment of the obligations under the Second
Lien DIP Facility with priority above all other administrative claims, subject to the Carve-Out and the liens granted under the EFIH First Lien DIP Financing.
		
		  	The Second Lien DIP Facility will be subject to an intercreditor agreement, which includes, among other things, customary payment block and standstill provisions (the “Intercreditor Agreement”), in form and
substance reasonably acceptable to the lenders under the EFIH First Lien DIP Financing, the Issuers, and the Note Purchasers.

  
 8 

					
	Conditions Precedent to the Closing	 	The closing date (the “Closing”) under the Second Lien DIP Facility shall be subject to satisfaction (or waiver) of the following conditions:
			
		 	A.	  	The DIP Documents shall be in form and substance consistent with this Term Sheet and otherwise reasonably satisfactory to the Required Commitment Parties, the Administrative Agent, the Issuers and each of their counsel.
			
		 	B.	  	The Chapter 11 Cases shall have been commenced by the Issuers and the Guarantors and the same shall each be a debtor and a debtor in possession.
			
		 	C.	  	The Restructuring Support Agreement shall be in full force and effect and the Issuers shall be in compliance with the Restructuring Support Agreement in all material respects as of the Closing.
			
		 	D.	  	Substantially concurrently with the Closing, the DIP Documents shall have been delivered, all applicable fees and expenses shall have been paid, and all applicable liens shall have been perfected.
			
		 	E.	  	Substantially concurrently with the Closing, proceeds of the EFIH First Lien DIP Financing, which shall be on the terms set forth in the Restructuring Support Agreement and the aggregate principal amount under the EFIH First Lien
DIP Financing shall not exceed $5,400,000,000 (with such changes that are not materially adverse to the Note Purchasers) shall have been used (together with cash on hand) to (i) repay in full all outstanding principal plus accrued and unpaid
interest at the non-default rate due and owing under the EFIH First Lien Notes (which shall not include any alleged premiums, fees or claims relating to the repayment of such Claims) to Non-Settling EFIH First Lien Note Holders and (ii) repay the
EFIH First Lien Notes held by Settling EFIH First Lien Noteholders in accordance with the EFIH First Lien Settlement.
			
		 	F.	  	Substantially concurrently with the Closing, the Second Lien Refinancing shall have been consummated.
			
		 	G.	  	The Administrative Agent shall have received a signed copy of an order of the Bankruptcy Court in form and substance satisfactory to the Required Commitment Parties and the Issuers (the “DIP Order”), authorizing and
approving the issuance of the Second Lien DIP Notes and the granting of the superpriority claims and liens and other liens referred to above under the heading “Security and Priority”, which DIP Order shall not have been vacated, reversed,
modified, amended or stayed, in a manner adverse to the Note Purchasers, without the consent of the Required Commitment Parties.

  
 9 

					
		 	H.	 	The Issuers shall have complied in all material respects with the terms and conditions of the Second Lien DIP Procedures, and the Participation Rights shall have been allocated in accordance with the Second Lien DIP
Procedures.
			
		 	I.	 	No default (or any event which with the giving of notice or lapse of time or both would be a default) under the EFIH First Lien DIP Financing is then existing, after giving effect to applicable grace periods or waivers, which would
permit the counterparty thereto to exercise remedies thereunder on a post-petition basis.
			
		 	J.	 	The Administrative Agent shall have received a customary opinion of counsel to the Issuers.
			
		 	K.	 	There shall not have occurred any circumstance or conditions affecting the business, assets, operations, properties or financial condition of the Issuers and their subsidiaries taken as a whole, that would individually or in the
aggregate, materially adversely affect the ability of the Issuers (taken as a whole) to perform their payment obligations under the DIP Documents to which they are a party, or the rights and remedies of the Agent and the Note Purchasers under the
DIP Documents (other than, in each case, as a result of the events leading up to, and following commencement of a proceeding under Chapter 11 of the Bankruptcy Code and the continuation and prosecution thereof, including circumstances or conditions
resulting from, or incidental to, such events, commencement, continuation and prosecution, which shall not individually or in the aggregate constitute a Material Adverse Event), and provided that nothing disclosed in any of the following
filings by EFIH and/or EFH (1) the Annual Report on Form 10-K for the year ended December 31, 2013, as filed on the date of the Commitment Letter (to the extent substantially the same in form and substance as the version provided to the
advisors of the Initial Commitment Parties prior to the date of the Commitment Letter), (2) any filings on Form 8-K made through the date of the Commitment Letter and/or (3) any disclosure statement related to any plan of reorganization or
liquidation of the Issuers provided to the Commitment Parties on or prior to the date of the Commitment Letter, shall, in any case, in and of itself and based solely on facts as disclosed therein (without giving effect to any developments not
disclosed therein) be a Material Adverse Event (any of the foregoing being a “Material Adverse Event”).

  
 10 

					
		 	L.	  	Any and all governmental consents and approvals necessary in connection with the Second Lien DIP Facility shall have been obtained and shall remain in effect.
			
		 	M.	  	 To the extent requested at least 5 business days prior to Closing, each Note Purchaser who has requested the same shall have received
“know your customer” and similar information.
  
 The Note Purchasers shall have
a valid and perfected second priority lien on and security interest in the Collateral pursuant to the DIP Order.

			
		 	N.	  	(i) There shall exist no default under the DIP Documents, (ii) the representations and warranties of the Issuers and each Guarantor therein shall be true and correct in all material respects (or in the case of representations and
warranties with a “materiality” qualifier, true and correct in all respects) immediately prior to, and after giving effect to, such funding and (iii) the issuance of the Second Lien DIP Notes shall not violate any requirement of law and
shall not be enjoined, temporarily, preliminarily or permanently.
		
	Representations and Warranties	 	The DIP Documents will contain representations and warranties consistent with those found in the First Lien DIP Facility and shall include representations and warranties with respect to: valid existence, compliance with
law, requisite power, due authorization, approvals, no conflict with material postpetition agreements (to the extent enforceable post-petition) or applicable law, enforceability of the DIP Documents, ownership of subsidiaries and property, material
accuracy of financial statements and certain other written information provided, litigation, absence of Material Adverse Event, taxes, margin regulations, no default under the DIP Documents, inapplicability of Investment Company Act, use of
proceeds, insurance, labor matters, ERISA, environmental matters, security interests, necessary rights to intellectual property and ownership of properties, DIP Order, sanctioned persons, anti-corruption laws and Patriot Act.

  
 11 

					
	Affirmative Covenants	  	The DIP Documents will contain affirmative covenants consistent with those found in the EFIH First Lien DIP Financing (subject to the principles set forth in “DIP Documents” above) and shall include affirmative
covenants with respect to:
			
		  	A.	  	Preservation of corporate existence.
			
		  	B.	  	Compliance with applicable laws (including ERISA and environmental laws).
			
		  	C.	  	Conduct of business.
			
		  	D.	  	Payment of taxes.
			
		  	E.	  	Maintenance of insurance.
			
		  	F.	  	Access to books and records and visitation rights.
			
		  	G.	  	Maintenance of books and records.
			
		  	H.	  	Maintenance of properties.
			
		  	I.	  	Use of proceeds.
			
		  	J.	  	Provision of additional collateral and mortgages.
			
		  	K.	  	Delivery of certain reports and information.
			
		  	L.	  	Transactions with affiliates.
			
		  	M.	  	Certain bankruptcy matters.
			
		  	N.	  	Limitations on changes to fiscal year.
			
		  	O.	  	Further assurances.
		
	Negative Covenants	  	The DIP Documents will contain negative covenants consistent with those found in the EFIH First Lien DIP Financing (subject to the principles set forth in “DIP Documents” above), which include negative
covenants with respect to:
			
		  	A.	  	Limitations on debt and guarantees.
			
		  	B.	  	Limitations on liens.

  
 12 

					
		  	C.	  	Limitations on loans and investments.
			
		  	D.	  	Limitations on asset dispositions, including, without limitation, the issuance and sale of capital stock of subsidiaries; provided that, no sales, dispositions, or other transfers of equity interests in Oncor Electric
Delivery Holdings Company LLC shall be permitted.
			
		  	E.	  	Limitations on dividends, redemptions and repurchases with respect to capital stock.
			
		  	F.	  	Limitations on cancellation of debt and on prepayments, redemptions and repurchases of pre-petition debt, except as expressly provided for in the DIP Documents or pursuant to “first day” or other orders entered by the
Bankruptcy Court.
			
		  	G.	  	Limitations on fundamental changes.
			
		  	H.	  	Limitations on material changes in business.
			
		  	I.	  	Limitation on certain affiliate value transfers.
			
		  	J.	  	Limitations on sale/leasebacks.
			
		  	K.	  	Limitations on amendment of constituent documents except for modifications that could not reasonably be expected to materially and adversely affect the interests of the Note Purchasers.
			
		  	L.	  	Limitation on amending, modifying, or terminating the Oncor TSA Amendment, to the extent such agreement is effective without consent of the Required Note Purchasers.
			
		  	M.	  	Certain other bankruptcy matters.
		
	Financial Covenants	  	The DIP Documents will contain financial covenants consistent with those found in the EFIH First Lien DIP Financing, subject to a 15% cushion.
		
	Reporting Requirements	  	The DIP Documents will contain reporting requirements consistent with those found in the EFIH First Lien DIP Financing.
		
	Events of Default	  	The DIP Documents will contain events of default consistent with those found in the EFIH First Lien DIP Financing (which will be applicable to the Issuers, the Gurantors, and their respective restricted subsidiaries),
which (subject, where appropriate, to grace periods and exceptions consistent with

  
 13 

					
		  	those in the EFIH First Lien DIP Financing and to the principles set forth in “DIP Documents” above) shall include events of default with respect to:
			
		  	A.	  	Failure to pay principal, interest or any other amount when due.
			
		  	B.	  	Representations and warranties incorrect in any material respect when given.
			
		  	C.	  	Failure to comply with covenants (with grace period as appropriate).
			
		  	D.	  	Cross-acceleration against post-petition indebtedness in excess of an amount to be mutually agreed upon.
			
		  	E.	  	Failure to satisfy or stay execution of final postpetition judgments in excess of an amount to be mutually agreed upon.
			
		  	F.	  	The occurrence of certain ERISA events that result in a Material Adverse Event.
			
		  	G.	  	Actual or asserted (by any Note Party or any affiliate thereof) invalidity or impairment of any DIP Document (including the failure of any lien to remain perfected).
			
		  	H.	  	Change of ownership or control.
			
		  	I.	  	(a) The entry of an order dismissing any of the Chapter 11 Cases or converting any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code,
			
		  		  	(b) the entry of an order appointing a chapter 11 trustee in any of the Chapter 11 Cases;
			
		  		  	(c) the entry of an order staying, reversing, vacating or otherwise modifying, in each case in a manner materially adverse to the Administrative Agent or the Note Purchasers, without the prior consent of the Commitment Parties, the
Second Lien DIP Facility or the DIP Order;
			
		  		  	(d) the entry of an order in any of the Chapter 11 Cases appointing an examiner having expanded powers (beyond those set forth under sections 1106(a)(3) and (4) of the Bankruptcy Code);
			
		  		  	(e) the entry of an order in any of the Chapter 11 Cases denying or terminating use of cash collateral by the Issuers and such order has not be stayed or superseded by an order granting use of cash collateral;

  
 14 

					
		 		 	(f) the filing of any pleading by any Note Party seeking, or otherwise consenting to, any of the matters set forth in clauses (a) through (e) above;
			
		 		 	(g) the entry of a final non-appealable order in the Chapter 11 Cases charging any of the Collateral under section 506(c) of the Bankruptcy Code against the Note Purchasers or the commencement of other actions that is materially
adverse to the Administrative Agent, the Note Purchasers or their respective rights and remedies under the Second Lien DIP Facility in any of the Chapter 11 Cases or inconsistent with the DIP Documents;
			
		 		 	(h) the entry of an order granting relief from any stay of proceeding (including, without limitation, the automatic stay) so as to allow a third party to proceed against any material assets of the Issuers in excess of an amount to
be mutually agreed upon in the aggregate;
			
		 		 	(i) existence of any claims or charges, other than in respect of the Carve-Out, the EFIH First Lien DIP Financing or Second Lien DIP Facility or as otherwise permitted under the DIP Documents, entitled to superpriority under Section
364(c)(1) of the Bankruptcy Code pari passu or senior to the Second Lien DIP Facility; and
			
		 		 	(j) the Note Parties or any of their subsidiaries, or any person claiming by or through the Note Parties any of their subsidiaries, shall obtain court authorization to commence, or shall commence, join in, assist or otherwise
participate as an adverse party in any suit or other proceeding against the Administrative Agent or any of the Note Purchasers relating to the Second Lien DIP Facility.
			
		 		 	(k) a plan shall be filed or confirmed in any of the Chapter 11 Cases that does not provide for either (i) the indefeasible payment in full in cash of the obligations (other than indemnities and other contingent obligations not then
due and payable) on the effective date of such plan or (ii) conversion to Conversion Shares on terms pursuant to the Equity Conversion.
		
	Expenses and Indemnification	 	The Issuers will indemnify the Administrative Agent, the Commitment Parties, the Note Purchasers, their respective affiliates, successors and assigns and the officers, directors, employees, agents, advisors, controlling
persons and members of each of the foregoing (each, an “Indemnified Person”) and

  
 15 

			
		 	hold them harmless from and against all costs, expenses (in the case of legal counsel, limited to reasonable and documented fees, disbursements and other charges) and liabilities of such Indemnified Person arising out of or relating
to any claim or any litigation or other proceeding (regardless of whether such Indemnified Person is a party thereto and regardless of whether such matter is initiated by a third party or by the Issuers or any of its affiliates) that relates to the
Second Lien DIP Facility or the transactions contemplated thereby; provided that no Indemnified Person will be indemnified for any cost, expense or liability to the extent determined in the final, non-appealable judgment of a court of competent
jurisdiction to have resulted from its or its related parties’ gross negligence, willful misconduct or bad-faith. The Issuer shall reimburse the Administrative Agent for their reasonable and documented out-of-pocket expenses incurred in
connection with the negotiation, documentation, syndication and administration of the Second Lien DIP Facility, any amendments or waivers with respect thereto, any Event of Default in respect of the Second Lien DIP Facility and any exercise of
remedies in respect thereof (including reasonable and documented out-of-pocket prepetition and post-petition fees, charges and disbursements of legal counsel, financial advisors and third-party appraisers and consultants advising the Administrative
Agent incurred in connection with the Agent’s participation in the Chapter 11 Cases, limited in the case of legal counsel to one primary counsel (and (i) appropriate local counsel in applicable foreign and local jurisdictions, but limited to
one local counsel in each such jurisdiction, (ii) appropriate regulatory counsel and (iii) solely in the case of a conflict of interest, one additional counsel in each relevant jurisdiction to the affected indemnified persons similarly situated).
The Issuer shall reimburse the reasonable and documented out-of-pocket expenses of (i) Akin Gump Strauss Hauer & Feld LLP, (ii) Cousins, Chipman & Brown LLP, (iii) Ernst & Young LLP, (iv) Leidos, Inc., (v) Centerview Partners LLC, and
(vi) such other advisors retained by the Required Commitment Parties, including any regulatory counsel, during these cases (collectively, the “Commitment Party Professionals”) incurred in connection with the negotiation,
documentation, syndication and administration of the Second Lien DIP Facility, any amendments or waivers with respect thereto, any Event of Default in respect of the Second Lien DIP Facility and any exercise of remedies in respect thereof (including
reasonable and documented out-of-pocket prepetition and post-petition fees, charges and disbursements of Commitment Party Professionals incurred in connection with the Note Purchasers’ participation in the Chapter 11 Cases).

  
 16 

			
	Required Note Purchasers	  	Note Purchasers managed and/or advised by three or more investment advisors holding at least 50.1% of the outstanding commitments and/or exposure under the Second Lien DIP Facility (the “Required Note
Purchasers”).
		
	Amendments	  	Required Note Purchasers, except for provisions customarily requiring approval by all directly and adversely affected Note Purchasers or all Note Purchasers, including the reduction of any portion of the principal amount of the
Second Lien DIP Notes, the reduction of the interest rate (other than as a result of a default, events of default, or default interest) or the extension of the final maturity date, provided, however, that the Required Note Purchasers may
waive the Prepayment Fee, provided further, however, that the Required Note Purchasers may not waive the Prepayment Fee with respect to the Tranche A-3 Notes.
		
	Miscellaneous	  	The DIP Documents will include (i) standard yield protection provisions (including, without limitation, provisions relating to compliance with risk-based capital guidelines, increased costs and payments free and clear of withholding
taxes (subject to customary qualifications)), (ii) waivers of consequential damages and jury trial, (iii) customary agency, set-off and sharing language and (iv) customary replacement of lender provisions.
		
	Governing Law and Submission to Non-Exclusive Jurisdiction	  	State of New York.
		
	Counsel to Commitment Parties and Certain Note Purchasers	  	Akin Gump Strauss Hauer & Feld LLP.
		
	Counsel to Administrative Agent	  	To be determined by Administrative Agent

  
 17 

 EXHIBIT B 

Equity Conversion Term Sheet 

 Execution Version 

ENERGY FUTURE HOLDINGS CORP. 

EQUITY CONVERSION TERM SHEET 

Capitalized terms used but not defined herein shall have the meanings set forth in the letter agreement, dated as of April 28, 2014
(the “Commitment Letter”), to which this Equity Conversion Term Sheet is attached, or the Restructuring Support Agreement (as defined in the Commitment Letter). 

 

			
	Issuer	  	Reorganized Energy Future Holdings Corp. (“Reorganized EFH”).
		
	Summary of Equity Conversion	  	The newly issued common stock of Reorganized EFH shall consist of 100 million shares prior to the Equity Conversion and the issuance of shares under the Reorganized EFH/EFIH Management Incentive Plan (if any). In the Equity
Conversion, the Second Lien DIP Notes shall be mandatorily converted to 177,658,788 Conversion Shares plus an additional 89,052 Conversion Shares for each million dollars of EFIH Second Lien DIP Financing in excess of $1,995 million, and less 89,052
shares of Conversion Shares for each million dollars of EFIH Second Lien DIP Financing of less than $1,995 million outstanding on the Effective Date, including on account of the Equity Conversion Fee, on the terms set forth herein
(the “Equity Conversion”). Holders of General Unsecured Claims Against EFH other than Fidelity may elect to participate in their Pro Rata share (with all Holders of General Unsecured Claims Against EFH) of up to 9% of the
Equity Conversion (such Holders, the “Equity Conversion Participants”) provided that such Holders of General Unsecured Claims may only participate in the Equity Conversion by purchasing Tranche A-3 Notes held by Fidelity or any
direct or indirect transferee thereof, if the Required Transfer (as defined in the Second Lien DIP Notes Term Sheet) has not occurred. Such Holders shall fund such share in cash, the proceeds of which shall be used by EFIH to repay in cash Tranche
A-3 Notes, Pro Rata, in respect of such share, simultaneously with the Equity Conversion (the “Fidelity Repayment”); provided, further, that the stated plan value of the Conversion Shares shall be at least equal
to the adjusted issue price of the EFIH Second Lien DIP Financing; provided, however, that, for the avoidance of doubt, this is a negotiated plan value solely for purposes of the deal embodied in this Term Sheet and the Restructuring
Support Agreement and shall not be binding upon any party to the extent the Plan is not confirmed and consummated. The number of Conversion Shares issued pursuant to the Equity Conversion shall be adjusted to the extent that Reorganized EFIH Equity
Interests, or a combination of Reorganized EFH Common Stock and Reorganized EFIH Equity Interests are issued pursuant to the Equity Conversion.

			
	Parties	  	The parties entitled to participate in the Equity Conversion shall be limited to the Note Purchasers under the Second Lien DIP Facility and the Equity Conversion Participants (the “Conversion Parties”).
		
	Conversion Agreement	  	The parties acknowledge and agree that this Equity Conversion Term Sheet does not include all of the conditions, covenants, closing conditions, representations, warranties and other terms that would be contained in definitive
documents for transactions of this type. As such, the Commitment Parties and EFH shall no later than 30 days after the date of execution of the Commitment Letter, enter into a conversion agreement (the “Conversion Agreement”)
containing the terms and conditions set forth in this Equity Conversion Term Sheet, the Commitment Letter and other customary terms and conditions for transactions of this type, and which must be consistent with the Restructuring Support Agreement
and reasonably satisfactory to at least three (3) investment advisors that manage and/or advise funds or accounts that beneficially own, collectively, at least 66.6% of the EFIH Unsecured Note Claims held by all Consenting Creditors (the
“Required EFIH Unsecured Consenting Creditors”) and EFH, which Conversion Agreement shall be incorporated by reference into the Note Purchase Agreement or shall be attached as an exhibit thereto.
		
	Organizational Documents	  	Corporate governance for Reorganized EFH and Reorganized EFIH, including charters, bylaws, operating agreements, or other organization documents, as applicable (the “Organizational Documents”), shall be consistent
with section 1123(a)(6) of the Bankruptcy Code (as applicable) and the Tax Matters Agreement, shall be determined by the Required EFIH Unsecured Consenting Creditors in consultation with (i) EFH, (ii) EFIH, and, (iii) as appropriate, with other
Holders of EFIH Second Lien DIP Claims or EFIH Unsecured Note Claims that upon the Effective Date will receive greater than 15% of the Reorganized EFH Common Stock.
		
	Registration Rights	  	Reorganized EFH and any Conversion Parties that will constitute affiliates of Reorganized EFH under the Securities Act of 1933 after the Effective Date will enter into a registration rights agreement (the “Registration
Rights Agreement”), which shall contain such terms and conditions reasonably satisfactory to the Required EFIH Unsecured Consenting Creditors and as necessary to comply with the terms of the Private Letter Ruling and provide for
registration rights, including demand, piggyback and shelf registration rights, with the number of long form demand registration rights to be determined by the Required EFIH Unsecured Consenting Creditors.
		
	Transferability of Converted Shares	  	The Conversion Shares will be transferable, subject to compliance with applicable securities laws (including the Securities Act of 1933, as amended) and the terms of the Private Letter Ruling.

  
 2 

					
	Representations and Warranties:	  	The Conversion Agreement shall contain customary representations and warranties of EFH and the Commitment Parties for transactions of this type, consistent with the Second Lien DIP Facility.
		
	Covenants	  	The Conversion Agreement will contain covenants of EFH and EFIH, as provided by, consistent with, and subject to the Restructuring Support Agreement.
		
	Conditions Precedent to Closing	  	The Equity Conversion will be conditioned upon satisfaction of terms and conditions in the Conversion Agreement, as provided by, consistent with, and subject to the Restructuring Support Agreement, including, without
limitation, the following:
			
		  	•	  	The Restructuring Support Agreement shall be in full force and effect as of the closing of the Equity Conversion and shall not have been amended or modified without the prior consent of the Required EFIH Unsecured Consenting
Creditors in violation of the terms of the Restructuring Support Agreement;
			
		  	•	  	The Bankruptcy Court shall have entered the Disclosure Statement Order, and such order shall be in full force and effect and not subject to a stay;
			
		  	•	  	The Bankruptcy Court shall have entered the Confirmation Order, and such order shall be in full force and effect and not subject to a stay;
			
		  	•	  	The Registration Rights Agreement shall be in form and substance reasonably satisfactory to the Required EFIH Unsecured Consenting Creditors;
			
		  	•	  	Any and all governmental and third party consents and approvals necessary in connection with the Equity Conversion and the Plan Restructuring Documents shall have been obtained and shall remain in effect;
			
		  	•	  	The Private Letter Ruling shall have been obtained from the IRS;
			
		  	•	  	The Plan shall have become, or simultaneously with the issuance of the New Reorganized EFH Stock will become, effective;
			
		  	•	  	The covenants to be performed by EFH and EFIH in the Conversion Agreement shall have been performed and complied with in all material respects on the closing date of the Equity Conversion; and
			
		  	•	  	There shall not have been a continuing default (or any event which with the giving of notice or lapse of time or both would be a default) under the Second Lien DIP Facility.

  
 3 

					
	Termination of Equity Conversion	  	All of the obligations of the Commitment Parties, Conversion Parties, EFH, and EFIH shall be of no further force or effect, upon the giving of written notice of termination by the Required EFIH Unsecured Consenting
Creditors, in the event of:
			
		  	 •
	  	a termination of the Restructuring Support Agreement by any party thereto, or the Commitment Letter; or
			
		  	 •
	  	an event of default, cancellation and/or acceleration of the Second Lien DIP Facility.
		
	Indemnification	  	EFH and EFIH shall, jointly and severally, indemnify and hold harmless each Conversion Party not indemnified under the Commitment Letter, and their respective affiliates, shareholders, members, partners, and other equity
holders, general partners, managers and its and their respective Representatives, agents and controlling persons (each, an “Indemnified Person”) from and against any and all losses, claims, damages, liabilities, and costs and
expenses that any such Indemnified Person may incur or to which any such Indemnified Person may become subject arising out of or in connection with the Plan, the Plan Restructuring Documents, the Equity Conversion, or any matter relating to the
foregoing.
		
	Amendments	  	Amendments to the Conversion Agreement will require the consent of the ; provided that, amendments relating to allocation percentages, fees, or otherwise disproportionately and materially adversely affecting a Conversion
Party, shall require the consent such Conversion Party.

  
 4EX-10.(a)

 Exhibit 10(a) 

PETROLEUM STORAGE SERVICES AGREEMENT 

This Petroleum Storage Services Agreement (the “Agreement”) is entered into as of this 18th day of April, 2014 by and between Dunellen, LLC, a Delaware limited liability company (“Operator”) and Sprague Operating Resources LLC, a Delaware limited liability company (the
“Customer”). Each of Operator and Customer may also be referred to individually as a “Party” or collectively as “Parties”. 

1. Handling and Product. In accordance with the terms and conditions set forth in this Agreement on and after May 1, 2014 for the
term of this Agreement, Operator agrees to provide exclusive storage capacity in the amount set forth on Schedule A attached hereto (the “Lease Capacity”) at Operator’s petroleum storage facilities at Operator’s terminal located
at 100 Dexter Road, East Providence, Rhode Island (the “Terminal”) together with the nonexclusive use of (x) the Wilkesbarre Pier and associated vessel berth (the “Pier”) and (y) one sixteen inch petroleum pipeline
connecting the Pier with the Lease Facility (the “Pipeline”) (collectively, the “Lease Facility”). The Lease Facility includes exclusive use of a loading rack (the “Truck Rack”) with equipment for the loading of the
Products (as hereinafter defined) from storage tanks into trucks. Operator shall deliver Terminal free of petroleum products unless Customer purchases the tank bottoms so-called from Operator’s existing tenant, Atlantic Trading &
Marketing, Inc. Customer shall purchase from Operator at the fair market value thereof any Products, as hereinafter defined, in the Pipeline. Subject to the provisions of Section 3A hereof, from and after the date which is thirty (30) days
after notice from Operator to Customer that it has reached agreement to store and distribute gasoline products (including ethanol or other required gasoline additives) at the Lease Facility for the account of a person other than Customer, Operator
shall have the right to store and distribute gasoline products only for itself or for the account of an unrelated person. Operator shall provide the following services to Customer in connection with the storage of the Products: 

(a) Receive, handle, unload and store fuel oil, distillates (kerosene, heating oil and heating oil blend stocks) diesel fuel
and bio-blended oils not to exceed 50% bio in any storage tank (the “Products”) at the Pier, Pipeline and Lease Facility. Operator agrees that there will be no comingling of Products except for like grades, excluding the downgrade of a
reasonable amount of product as a result of using the Pipeline. Unless otherwise directed by the Customer in writing, diesel fuel will be downgraded to heating oil, kerosene to heating oil and heating oil to heating oil blend stocks and/or fuel oil.
The Pipeline holds approximately 99,708 gallons of product and requires about 10,000 to 20,000 gallons of interface downgrade. All tanks designated by Operator for Customer’s use shall be in a clean and suitable condition as determined by
Customer or Customer’s designated surveyor. All Products received at the Lease Facility shall be sampled and analyzed at the load port or on the arriving vessel and provided to the Operator prior to acceptance of Product receipt. Products not
meeting the Product Specifications, as hereinafter defined, will be handled per prior agreement between the Customer and the Operator and will not be considered available for delivery to Customer until Product meets the required Product
Specifications. Operator agrees to accept Products not meeting the Product Specifications so long as such Products will be exported through the Pier or can be made conforming for delivery to the Truck Rack by the comingling with other Customer
Products or 

 
through the use of dyes and additives available at the Terminal. Customer shall be responsible for the cost of treating any non-conforming Products in the Pipeline and for any damage resulting
from non-conforming Product being transported through or remaining in the Pipeline. 
 (b) Deliver the Products from storage
tanks into designated trucks or the Pipeline for marine vessels as directed by the Customer in such quantities and upon such reasonable terms as shall be specified by the Customer subject to compliance by any such customer with provisions of the
Terminal Access Agreement attached as Appendix B hereto. If the Customer requires ultra-low sulfur diesel to be dyed for purposes of providing its customers with nontaxable “off road” diesel and ultra low sulfur heating oil, Operator shall
splash dye the trucks of the designated customers. It shall be Operator’s responsibility to make certain that the Product in each truck that has been splash dyed meets all Internal Revenue Service legal limits for dye content. Operator agrees
to notify Customer if the Product in any tank fails to meet the IRS or EPA legal limits for dye and sulfur content and Operator will rectify such deficiency as quickly as possible. Additives for premium ULSD or premium heating oil will be provided
as requested by the Customer at the Customer’s expense. 
 (c) Take daily gauges of Customer’s Products and
additives in storage and deliver to Customer at the close of each day by confirmed facsimile, email, electronic data exchange and control services as agreed, or by overnight mail, daily inventory reports in such reasonable form as Customer shall
furnish together with original bills of lading, truck tickets and other shipping documents. 
 (d) Furnish sufficient
manpower to perform the services set forth herein for the following times: 
 With respect to the receipt, handling, loading and unloading
of the Products at the Pier, Pipeline and Lease Facility - 24 hours a day, 365 days per year. 
 With respect to all other services –
May 1 through August 31 - Monday through Friday from 5:00 a.m. to 8:00 p.m., Saturday from 6:00 a.m. to 12:00 p.m.; September 1 through April 30 - Monday through Friday from 4:00 a.m. to 10:00 p.m., Saturday from 6:00 a.m. to
2:00 p.m. 
 If any of the above days shall fall on the following holidays, Operator shall not be required to provide the
services: Memorial Day, July 4 and Labor Day. If any of the foregoing holidays fall on a Sunday, the following Monday shall be observed as a holiday. Should any holiday fall on a Saturday, the previous Friday shall be observed as a holiday.
Operator agrees to open the Lease Facility for additional hours, so long as the Customer provides not less than 48 hours’ notice thereof and reimburses the Operator at the rate of $100 per hour all inclusive for each additional hour that the
Lease Facility is open. 
 (e) Customer will reimburse Operator at cost for any special requested Pier services, including,
but not limited to, security to allow vessel crew access to the shore, tug services or the delivery across the Pier of any ship supplies and additional layover time at the Pier for weather bound barges or restricted port movements for ships. All
special services requests are to be in writing and such charges shall be advised to the Customer prior to performance; 

(f) Customer agrees to file and pay the Rhode Island Oil Spill Fee, currently $0.05 per barrel, for any Products received or
shipments at the Pier; 
 (g) Customer will pay the cost of requested laboratory services for any blending services
performed by the Operator involving tank-to-tank movements within the Lease Facility. All blending service requests are to be in writing; 

 (h) All sales of the Products and all billing during the term hereof for the
account of Customer shall be in the name of Customer. 
 (i) Operator shall arrange for daily transfer by electronic data
file(s) to Customer and to Customer’s designated customer of all receipts, deliveries and inventory of the Products for Customer and Customer’s customers. Operator agrees to accept deliveries of the Products on Customer’s behalf as
directed by Customer from the Pier or by truck as long as duly noticed in advance by Customer. 
 2. Term of the Agreement. 

(a) Initial Term. This Agreement shall be effective on the date hereof and shall continue until April 30, 2019
(the “Initial Term”, as may be extended pursuant to Section 2(b), the “Term”) unless sooner terminated or extended pursuant to the terms hereof. Notwithstanding the foregoing, (i) commencing on April 1, 2016 and
for a period of thirty (30) days thereafter, and on each April 1 in any subsequent year during the Initial Term hereof or any extension term, as hereinafter defined, either Party shall have the right to terminate this Lease effective as of
midnight on the April 30 of the year next following the year in which such notice of termination is given and (ii) Customer shall have the right to terminate this Agreement upon one hundred eighty (180) days notice in the event that
the Rhode Island Department of Environmental Management shall amend Rhode Island Air Pollution Control Regulation No. 8 (or a law or regulation having a similar effect is enacted or adopted by any governmental authority of the State of Rhode
Island) to prohibit the storage of middle distillate combustible products at the Terminal containing a sulfur content in excess of the maximum sulfur content permitted to be sold or used in Rhode Island, provided, however, that if such regulatory
prohibition is adopted or enacted and thereafter during such one hundred eighty day (180) period the enforcement of such regulation is enjoined by a court of competent jurisdiction or is repealed by the agency adopting the same, then the
termination date shall be suspended for so long as the injunction remains in full force and effect or for so long as the prohibition is no longer effective. Each twelve (12) month period commencing on May 1 and ending on April 30
during the term of this Agreement is hereinafter sometimes referred to as a “Contract Year”. 
 (b) Extension
Term. Customer shall have the right and option to extend the term of the Lease for two (2) additional terms of five (5) years each (each, an “Extension Term”) on and subject to terms and conditions herein contained by giving
notice to operator at least twelve (12) months prior to the expiration of the Initial Term or the first Extension Term, as applicable. 

3. Charges and Billing. For and during the Term, Customer shall pay Operator for the storage the following fees: 

(a) For storage services for each month, $258,845 (the “Monthly Storage Fee”) for the use of all of the Tanks
designated on Exhibit A for the time period May 1st through August 31st each year and $308,078 for the time period September 1st through April 30th each year which Lease Capacity shall be reduced in the event Operator either itself or for the account of an unrelated
party other than Customer stores and distributes gasoline products as permitted by Section 3A hereof. Commencing on May 1, 2015 and on each May 1 thereafter, the Monthly Storage Fee shall be increased (but never decreased) by the
percentage increase in the Consumer 

 
Price Index for All Urban Consumers -All Cities Average, all items (CPI-U) (1982-84=100) as published by the United States Department of Labor Bureau of Labor Statistics for the immediately
preceding twelve (12) month period ending on April 30. In the event that as of May 1 of any year the percentage increase cannot be determined, then when it can be determined, a calculation shall be made by Operator (and Customer shall
be notified) and the adjustment shall be retroactive to May 1. In the event the Bureau of Labor Statistics shall no longer publish the Consumer Price Index, in making the calculation required by this subsection Operator and Customer shall
mutually agree upon that published index which most closely replicates the Consumer Price Index; 
 (b) An excess service
charge (“Excess Service Charge”) of $0.15 per barrel (adjusted at the beginning of each Contract Year by the percentage increase in the Monthly Storage Fee in accordance with Subsection (a) hereof) of volume transferred at the Truck
Rack, the Pier or any rail loading facility connected to the Lease Facility to any person who is not an Affiliate (as hereinafter defined) of the Operator (other than the Providence and Worcester Railroad Company) in excess of 3,500,000 barrels
(“Threshold Volume”) in any Contract Year. The Excess Service Charge shall first be payable for the month in any Contract Year when the barrels transferred for such Contract Year exceed the Threshold Volume and thereafter shall be payable
monthly for the balance of the Contract Year for barrels transferred during such month. The Excess Service Charge shall be billed by Operator and shall payable within ten (10) days following receipt of the bill by Customer. For purposes of this
Subsection the term “Affiliate” means any person controlled by, controlling or under common control with the Operator. For purposes of this Agreement, Affiliate means with respect to any Party any other entity controlling, controlled by or
under common control with such Party, whether directly or indirectly through one or intermediaries. As used in the preceding definition, “control” and its derivitives mean legal, beneficial or equitable ownership directly or indirectly of
more than fifty (50) percent of the outstanding voting capital stock (or other voting ownership interest if not a corporation) of an entity, or management or operational control over such entty. 

3A. Conversion to Gasoline Products. Operator shall have the right to convert Tank 25 as well as Tank 32 for the storage of gasoline
products (including ethanol and other gasoline additives). Any such conversion shall not unreasonably interfere with Customer’s operations at the Lease Facility. Upon commencement of the conversion process Operator will offer Customer the
opportunity to utilize the converted tank or tanks for the storage and distribution of gasoline products. Customer shall have thirty (30) days to accept such offer. If Customer fails to accept such offer within the thirty (30) day period
in writing, Customer will be deemed to have rejected the offer and, thereupon, the converted tanks shall be deemed withdrawn from this Agreement and Operator will thereafter be free to lease the converted storage capacity to a third party or utilize
such converted tanks as well as up to three lanes of the Truck Rack which will have separate loading arms dedicated for the distribution of gasoline products and separate loading arms dedicated for the distribution of Products; provided that there
shall be no reduction in the number of loading arms available to dispense Customer’s Products. Operator shall use a separate dedicated dock line for gasoline transported to the Terminal. Upon the withdrawal of the converted tanks from this
Agreement, the then current Monthly Storage Fee shall be reduced proportionately for each barrel of shell barrel capacity withdrawn from this Agreement. If Customer shall elect to utilize such converted tanks for storage and distribution of gasoline
products, then there shall be no adjustment in the Monthly Storage Fee. If Operator shall utilize the converted tanks or contract with a third party for the storage and distribution of gasoline products, such storage and distribution shall be
carried on in a manner which shall not materially interfere with Customer’s operations as contemplated by this Agreement. 

 4. Payment Terms. The Monthly Storage Fee shall be payable in advance on the first
business day of each month. The other fees and charges will be billed by the Operator within 10 days of the close of each month. Payment of any undisputed amounts shall be made within 10 days of billing by Operator. 

5. Measurement. The quantities of Customer’s Products reported to Customer received by Operator through any receipts or deliveries
shall be determined by gauging the respective storage tanks before and after each loading; and the quantities in storage at any time shall be determined by the gauges of such tanks. All quantity determinations shall be corrected to 60°F based on
U.S. gallons of two hundred thirty-one (231) cubic inches and forty-two (42) gallons to the barrel, or metric equivalence, in accordance with the latest supplement or amendment to ASTM-1P Petroleum Measurement Table (ASTM Designation
D1250), Table No. 6(b)). All ship receipts shall be gauged by a third party at the Customer’s expense and confirmed with the Operator prior to final report. Operator shall perform daily gauging of active tanks and weekly gauging of all
tanks with an end of month closeout gauging at Operator’s expense. Additionally, the Customer may elect to have a third party gauger perform end of the month gauging for quality control at the Customer’s sole expense. Quantities loaded
into trucks for each loading shall be determined by proved meter readings. Nothing herein shall be deemed to limit gauging or analysis as Customer may reasonably require at Customer’s sole cost and expense. Proving of the Truck Rack meters
shall be performed annually (or more frequently as otherwise deemed necessary by the Parties) by a third party certified proving contractor at Operator’s expense. Customer will be notified before each annual proving and provided an opportunity
to witness the proving. 
 6. Title, Relationship and Custody. Title to the Product stored at the Lease Facility shall at all times
remain with Customer. Operator shall be deemed to have custody of the Product from the time it passes the flange on the Customer’s carrier to Operator’s receiving facilities at the Pier or at the Terminal and until it passes from
Operator’s delivery facilities at the Pier or at the Terminal to the receiving flange on the carrier of the Customer or Customer’s customer. Customer shall bear all risk of loss with respect to Product except to the extent such loss is
caused by Operator’s negligence, or Operator’s breach of this Agreement. Except as provided in Section 7 hereof, Operator shall have no title, lien or other interest of any kind whatsoever in and to the Product and shall indemnify,
protect and hold Customer harmless from all liens or claims arising out of transactions or litigation between the Operator and third parties unless it would otherwise be the Customer’s responsibility. 

7. Warehouseman’s Lien. Operator shall have a warehouseman’s lien in accordance with R.I.G.L. § 6A-7-209 upon such
amount of Product in the Lease Facility whose market value equals any amounts owed to Operator hereunder which have not been or are not paid when due under this Agreement (regardless of whether the amounts are owed for Product then in the Lease
Facility). Notwithstanding the foregoing, Operator acknowledges that such warehouseman’s lien shall be subordinate to the liens of any of Customer’s lenders (each, a “Lender”), and Operator agrees to promptly upon request enter
into any subordination agreement any such Lender may require in order to confirm such subordination. Customer shall provide ten (10) days’ written notice to Operator if it intends to transfer title of Product at the Lease Facility to a
third party (excepting transfers in the ordinary course of business and those amounting to no more than 5% of Product then stored at the Lease Facility) and promptly shall notify Operator in writing upon learning that a third party (other than a
Lender) claims an interest in Product at the Lease Facility. Such notice shall set forth the name and business address of such third party, and the amount claimed. 

 8. Independent Contractor. It is the express agreement between Operator and Customer that
Operator is not under Customer’s direction and control as to persons engaged by Operator to assist in the performance of its duties hereunder or as to the means or methods employed by Operator in accomplishing such performance. Employees,
agents or other representatives engaged by Operator in connection with the performance of this Agreement will be of Operator’s own selection, for Operator’s own account and at Operator’s own expense, and the terms and hours of their
employment and their wages and salaries shall be under Operator’s exclusive control and direction at all times. It is further understood and agreed by the Parties that Operator is, and for all purposes shall be, considered an independent
contractor and fully and exclusively liable (a) for the payment of any and all taxes now or imposed by any governmental authority which are measured by wages, salaries, commissions or otherwise paid to persons in its employ and all taxes on
Operator’s income; and (b) any accident to persons or property that may occur at Operator’s premises for any cause whatsoever arising out of negligence of any person, other than Customer and its employees, agents and Contractors and
other than with respect to the Product. 
 9. Facilities and Losses. Operator shall maintain the portion of the Lease Facility
associated with the storage services and related services provided to Customer hereunder in proper operating condition in accordance with applicable laws and industry standards including API 653 Standards for tank inspection and maintenance.
Operator shall provide a safe berth where vessels may approach, be safely thereat and depart, always safely afloat. Customer acknowledges that the berth is dredged to approximately -40 Feet MLLW and that there are restrictions imposed by the United
States Coast Guard and the Northeast Pilots Association on when vessels can access and depart the Pier. Operator shall coordinate scheduled inspections or maintenance with Customer to reasonably minimize negative impacts on Customer’s
operations. Customer shall be responsible for removing water bottoms in tanks where such water bottoms have a thickness of 3 inches or more; provided, however, Customer shall be permitted to inspect all tanks prior to inception of the lease term to
identify any existing water in said tanks and Customer shall not be responsible for removing any such amounts discovered. Inspection, cleaning and maintenance costs shall be the responsibility of the Operator. Operator shall not be responsible for
verifying the quantity or specification of the Products intended for storage. Testing of any inbound loads of the Products shall be done as mutually agreed to by the Parties with the cost of such testing to be for Customer’s account. Customer
represents and warrants that all of the Products intended for storage will meet the specifications for standard middle distillate combustible products (“Product Specifications”). Except as a result of Operator’s negligence, willful
misconduct or failure to comply with this Agreement, Operator shall not be responsible for any loss of the Products whatsoever and full risk of loss, possession and control shall remain with Customer at all times except that Operator shall be
responsible for annual product losses in excess of  1⁄4 of 1% of the total Product movement within the Lease Facility, other than losses of Product related to
the tank bottoms, product stratification, or losses arising out of Customer’s negligence, including the negligence of Customer’s customers or Contractors. On or before May 1, 2104, Customer shall enter into, and Operator shall cause
its affiliate, Capital Terminal Company, which is responsible for day to day operations at the Lease Facility, to enter into, a Terminal Access Agreement in the form of Appendix B attached hereto. 

 10. Taxes. Customer shall pay or caused to be paid all taxes, licenses, fees, charges and
sums due of any nature whatsoever imposed by any federal, state or local government on the Products owned by it or storage, transfer or movement thereof as covered by this Agreement. If Operator is required to pay such items, Customer shall
reimburse Operator within ten (10) days of being invoiced therefor. Operator shall pay its own income taxes and all franchise and property taxes and similar assessments assessed against the Lease Facility including all real and personal
property associated therewith provided, however, to the extent of any taxes on Customer’s Product, Operator shall not be liable therefor. Customer agrees to pay any increase in real estate taxes assessed against the Facility over the amount of
taxes assessed as of December 31, 2013. Upon receipt of its annual real estate tax bill for taxes assessed as of December 31, 2014 and each December 31 thereafter during the term of this Agreement, Operator will provide a copy thereof
to Customer and within thirty (30) days Customer shall pay to Operator the amount of real estate taxes billed to Operator in excess of the taxes assessed as of December 31, 2013. Operator shall provide to customer a copy of its real estate
bill for real estate taxes assessed as of December 31, 2013 within thirty (30) days of the receipt thereof by Operator. If Operator secures a reduction in its real estate tax assessment and as a result its real estate tax is reduced, then
Operator shall pay to Customer the amount of such reduction but not in excess of the amount previously paid by Customer. 
 11.
Insurance. 
 (a) Operator shall not insure Customer’s Product. If Customer desires to insure the Product while
stored at the Lease Facility, Customer will bear the cost of such insurance. 
 (b) Operator shall secure and maintain in
full force and effect during the Term of this Agreement commercial general liability insurance with companies rated not less than A by AM Best or otherwise reasonably satisfactory to the other Party to limits of $5,000,000 per occurrence and in the
aggregate annually. Operator shall also carry Workers’ Compensation insurance in amounts required by law. 
 (c)
Operator shall also provide, secure and maintain in force for the duration of this Agreement (i) wharfingers liability with insurance companies not rated less than A by AM Best to the limits of $10,000,000 per occurrence and in the aggregate
annually; and (ii) tank pollution liability insurance to the limits of $10,000,000 each occurrence and in the aggregate from companies rated not less than A by AM Best. 

(d) Operator shall also provide, secure and maintain during the course of this Agreement all risk property insurance on the
Lease Facility which shall include earthquake and flood with the exception that the Pier will not be covered by flood insurance. Settlement or valuation basis for such insurance shall be not less than replacement cost value as the term is commonly
understood for insurance purposes. 
 (e) Customer will provide similar types of insurance as are required to be provided by
Operator pursuant to the foregoing clauses (b) and (c). 
 (f) Each Party will provide the other Party with
certificates showing evidence of required insurance coverage as of the Effective Date of this Agreement. The requirement limits are minimums and will not be construed to limit the Party’s liability. Each Party will bear the cost of its
respective insurance policies required above. 

 12. Representations. 

(a) Each of Operator and Customer represents and undertakes to the other that as of the date hereof: 

(i) It has the authority and capacity to enter into this Agreement. 

(ii) The Agreement and the obligations created hereunder are binding upon it and enforceable against it and will not violate
the terms of any other agreement, or any judgment or court order, to which it is bound. 
 (iii) There is no proceeding
pending or threatened, or any other circumstance which to its knowledge, challenges or may have a material adverse impact on the Agreement. 

(b) The Operator represents and undertakes to the Customer that: 

(i) It will provide the services described in this Agreement in a professional manner, with such degree of skill, diligence,
prudence and foresight which one is entitled to expect from a skilled and experienced professional operator engaged in petroleum storage services activities. 

(ii) It will assign to the performance of the services described in this Agreement only personnel who have the experience,
skills and qualifications required for the proper performance of such services, in an appropriate number. 
 (iii) It will
maintain the Terminal and Lease Facility and supply the services described in this Agreement in accordance with the best industry standards and practices. 

(iv) It will obtain and maintain in force all licenses, permissions, authorizations, consents and permits needed to supply the
services described in this Agreement. 
 (v) It will comply with all applicable laws, enactments, orders, regulations,
procedures and other instruments relating to the supply of the services described in this Agreement. 
 13. Indemnification.  

(a) Operator agrees to fully indemnify, defend and hold harmless Customer, its officers, directors, members, Affiliates,
personnel, Contractors, agents and their respective successors and assigns (the “Customer Indemnified Parties”) from and against all liabilities, losses, claims, settlement payments, diminutions in value, value of lost Product, damages,
taxes, costs and expenses, interest, awards, judgments, fines, fees and penalties or other charges (including court filing fees, court costs, arbitration fees and costs, witness fees and all other reasonable fees, costs and expenses of investigating
and defending or asserting a claim for indemnification, including reasonable attorneys’ fees and other reasonable professionals’ fees and disbursements) (collectively, “Losses”) arising from any negligence or willful misconduct
or failure to comply with this Agreement of Operator, its Affiliates, personnel or Contractors, and any accident, injury or damage whatsoever caused to any person, or to the property of any person caused during the Term where such accident, damage
or injury results from the negligence or willful misconduct or failure to comply with this Agreement on the part of the Operator, its personnel or Contractors (including without limitation its affiliate, Capital Terminal Company). 

(b) Customer agrees to fully indemnify, defend and hold harmless Operator, its officers, directors, members, Affiliates,
personnel, Contractors, agents and their respective successors and assigns (“Operator Indemnfied Parties”) from and against all Losses arising from any negligence or willful misconduct or failure to comply with this Agreement of Customer,
its Affiliates, personnel or Contractors, and any accident, injury or damage whatsoever caused to any person or to the property of any person caused during the Term where such accident, damage, or injury results from the negligence or willful
misconduct or failure to comply with this Agreement on the part of Customer, its personnel or Contractors. 

 NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, IN NO EVENT SHALL EITHER PARTY
BE LIABLE TO THE OTHER FOR SPECIAL INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES. 
 For the purpose of this Agreement,
“Contractor” shall mean any third party to which Customer or Operator subcontracts or otherwise delegates its rights and obligations under the Agreement. 

14. Force Majeure. If either Party is rendered unable by force majeure to carry out in whole or in part its obligations under this
Agreement, then during the pendency of such force majeure, but for no longer period, the obligations of the Party affected by the event (other than the obligation to make payments then due or becoming due) shall be suspended to the extent required.
The Party affected by an event of force majeure shall provide the other Party with written notice setting forth full details thereof as soon as reasonably practical but in no event more than two (2) business days after the occurrence of such
event and shall take all reasonable measures to mitigate or minimize the events of such force majeure. “Force majeure” means an event not anticipated as of the effective date of this Agreement which is not in the reasonable control of the
Party (or in the case of a third party obligation or facilities, the “Third Party”) in the suspension (the “Claiming Party”) and by which the exercise of due diligence the Claiming Party or Third Party is unable to overcome or
avoid or cause to be avoided. Force majeure includes, but is not restricted to, acts of God, fire, civil disturbance, labor dispute, labor or material shortage, action or restraint by court order or public governmental authority (so long as the
Claiming Party has not applied for or assisted in the application, and has opposed where and to the extent reasonable such governmental action) provided, however, that an event of force majeure shall not be deemed to occur under any and all of the
following circumstances: 
 (a) To the extent that the inability was caused by the negligence or willful misconduct of the
Party claiming force majeure. 
 (b) To the extent that the inability was caused by the Party claiming the force majeure
having failed to remedy conditions, acting commercially reasonably and with reasonable dispatch. 
 (c) To the extent the
event constituting force majeure was intentionally initiated or intentionally acquiesced by the Party claiming relief for purposes of allowing the Party to claim force majeure. 

(d) If the inability was caused by a Party’s lack of funds. 

15. Default and Termination. An “Event of Default” shall mean with respect to a Party the occurrence of any of the following:

 (a) Failure to make when due any payment required pursuant to this Agreement, if such failure is not remedied within ten
(10) business days after written notice of such failure is given by the other Party; 
 (b) Unless the failure is
excused by force majeure, the failure of the Party to observe any other material provision or covenant set forth in this Agreement where such failure continues for ten (10) business days after receipt of written notice thereof from the other
Party except Non-Defaulting Party shall agree to extend the cure period for a reasonable period of time if the alleged default is not reasonably capable of cure within the ten (10) business day period and the Defaulting Party proceeds
diligently to cure the default; 

 (c) The making by either Party of an assignment for the benefit of creditors;

 (d) The filing by or against any Party of a petition under the Federal Bankruptcy Act or any similar state law or
appointment of receiver, trustee, or similar official for the business of a Party; and 
 (e) The making of material,
incorrect or misleading representation under this Agreement. 
 If an Event of Default occurs with respect to a Party (the “Defaulting
Party”), the other Party (the “Non-Defaulting Party”) without limiting any other rights that may be available to the Non-Defaulting Party (whether under this Agreement, as a matter of law, or otherwise) shall have the right to
exercise in its sole discretion the right, and at any time or times, to terminate this Agreement and calculate the loss, if any, incurred by such Party as a result of termination of this Agreement and to aggregate any or all other amounts owing
under this Agreement to a single liquidated settlement payment that will be due and payable within one (1) business day after the liquidation is completed. “Loss” shall be the loss to the Non-Defaulting Party as a result of the
termination of this Agreement (other than consequential damages) including, without limitation, the cost of entering into replacement transaction or agreement, in maintaining, terminating or reestablishing any hedge or related trading positions (and
discounted to present value or bearing interest as appropriate) in each case determined by the Non-Defaulting Party in a commercially reasonable manner. In addition, after an Event of Default, the Non- Defaulting Party at its election:
(i) shall have the general right of setoff with respect to all amounts owing between the Parties or their affiliates (whether under this Agreement or otherwise and whether or not due) provided that any amounts not then due shall be discounted
to the present value; and (ii) may withhold or suspend obligations (whether such obligations is that of payment, delivery or otherwise) under this Agreement or any agreement entered into with affiliates of the Defaulting Party until such
Non-Defaulting Party receives confirmation satisfactory in its reasonable discretion that all obligations of any kind (including, but not limited to, payment of any amounts due and payable) of the Defaulting Party or any of its affiliates under this
Agreement or otherwise to the Non- Defaulting Party have been fully performed. After an Event of Default, the Defaulting Party shall also be responsible for any cost and expenses (including, without limitation, reasonable attorneys’ fees and
disbursements) incurred by the Non-Defaulting Party in connection with such Event of Default. Notwithstanding the foregoing, the Non-Defaulting Party shall use commercially reasonable efforts to mitigate its damages in case of an Event of Default.

 16. Notices. Any notice or invoice or other communication required or desired to be given to either Party hereunder shall be in
writing and, if sent, by United States Certified Mail Postage Prepaid or sent by facsimile transmission, or recognized overnight delivery carrier addressed as follows except that either Party may by written notice given as aforesaid change its
address for subsequent notices hereunder: 
  

			
	Operator:	  	Dunellen, LLC
		  	100 Dexter Road
		  	East Providence, RI 02914
		  	Attention: Todd D. Turcotte, PE
		  	Vice President
		  	Telephone: 401-435-3734
		  	Fax: 401-435-3715

			
	Customer:	  	 Sprague Operating Resources LLC
 185
International Drive
 Portsmouth, NH 03801
 Attention: Law
Department
 Telephone: 603-431-1000
 Fax:
603-430-5324

 17. Environmental. Operator agrees to indemnify and hold harmless and defend the Customer Indemnified
Parties from any and all Losses arising as a result of any environmental condition on or about the Lease Facility (whether such condition originated prior to or subsequent to the Effective Date), including, without limitation, any Product spill,
leak or discharge or other environmental pollution caused by or in connection with the use of the Terminal, the Pier or the Pipeline. In the event of any such spill, leak or discharge, the Operator may commence containment or clean-up operations as
reasonably deemed appropriate or necessary by Operator or required by governmental authorities and shall notify or arrange to notify Customer as soon as reasonably practicable of any spill, leak or discharge and of any such operations. Such events
and operations shall not affect the obligations of Customer under Section 3 except if they extend beyond 30 days. 
 18. Removal of
Product. Customer shall remove prior to termination of this Agreement all Products and all water and all tank bottoms sediment and dispose of the same in accordance with all state and federal regulations with the goal of returning the storage to
the same status of cleanliness as existed at the beginning of this Lease, allowing unrestricted entry for inspection by Operator. Tanks shall be cleaned in accordance with industry standards for entry as defined by OSHA for entry and clean work in
above ground storage tanks, and shall not require a gas-free certification unless initial inspection identifies possible damage to equipment and requires further investigation and/or repairs in which case Operator may require a gas-free
certification. All pipelines and additive tanks shall be purged of product to the same state of cleanliness. Operator may elect, at its sole discretion, to purchase Product in pipelines and tank bottoms, based on current market rates and negotiated
with Customer. 
 19. Survival of Obligations. All obligations of Operator and Customer under Sections 13, 16, 17 and 18 of this
Agreement shall survive termination of this Agreement. 
 20. Access and Audits. Operator will provide Customer, Customer’s
auditors or internal controller access to inspect the facilities related to the performance of this Agreement at its own costs before commencing operations pursuant to this Agreement and at any time during the Term, provided reasonable notice is
given. Customer will be only permitted to conduct any audit during normal business hours and in a manner so as to not materially interfere with Operator’s performance of services. While conducting the audit, the Customer will assure that the
auditors comply with Operator’s safety, security and confidentiality requirements. 
 21. Arbitration. The Parties agree that
all disputes and claims arising out of or relating to this Agreement shall be settled by arbitration conducted in the English language in Providence, Rhode Island in accordance with the commercial arbitration rules of the American Arbitration
Association (“AAA”). 
 The arbitration panel shall be composed of three (3) arbitrators, two (2) of whom shall be
nominated by the respective parties, and the remaining arbitrator, who shall be the chairman, to be 

 
appointed by the AAA in accordance with its commercial arbitration rules. All three arbitrators shall be lawyers. Notice of appointment and the name and address of the arbitrators, except any
arbitrator appointed by the AAA, shall be filed with the AAA. None of the arbitrators shall have been previously employed by either party or have any direct pecuniary interest in either party or the subject matter of the arbitration, unless such
conflict is expressly acknowledged and waived in writing by both parties. 
 Any arbitration award by the majority of the panel of three
arbitrators may include costs, including reasonable attorney fees, and shall be final and binding upon the parties. Judgment upon any arbitration award rendered may be entered in any court of any country having jurisdiction. The arbitrators shall
have no authority to award consequential, treble, exemplary or punitive damages of any type or kind regardless of whether such damages may be available under any law or right, with the parties hereby affirmatively waiving their rights, if any, to
recover or claim such damages. Each party shall bear the compensation, costs and expenses of its own arbitrator and the parties shall split equally the compensation, costs and expenses of the third arbitrator. Any arbitration proceedings, decision
or award rendered hereunder and the validity, effect and interpretation of this Section 21 shall be governed by the Federal Arbitration Act. The parties agree that all information exchanged in connection with any proceeding as described herein
shall be deemed confidential. 
 With respect to all other matters relating to any arbitration hereunder (and with respect to any claim or
controversy arising or relating to this Agreement or the breach thereof) in the event this Section 21 is alleged to be invalid or unenforceable for any reason) the parties expressly submit to the exclusive jurisdiction of the United State
District Court for the District of Rhode Island, or , if such court declines to exercise or does have jurisdiction, the Superior Court for Providence County of the State of Rhode Island and to the personal jurisdiction by any such court and to the
service of process by registered mail. Moreover, the parties hereto expressly agree that the application of the United Nations Convention on Contracts for the International Sale of Goods 1980 is hereby excluded pursuant to article 6 of the
Convention. 
 22. Non-Waiver. The failure of either Party to insist upon the strict performance of any of the provisions of this
Agreement or to exercise any right of election hereunder in any one or more instances shall not be construed as a waiver or relinquishment on its part of any such provisions or right of election, but the same shall be and remain in full force and
effect. 
 23. Assignment. Any attempted assignment by Customer shall be ineffective without Operator’s prior written consent
which shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Customer may make an assignment of all or any part of its interest in this Agreement as security for obligations to its Lenders. Operator shall have the
right to assign this Agreement, or sell or transfer the Lease Facility or any part thereof and may hypothecate any of its interest in this Agreement or the Lease Facility without first obtaining the written consent of Customer, provided such
assignee is an affiliate of Customer or is of similar creditworthiness and experience in operating petroleum terminals as Operator, such creditworthiness being determined by Customer in its reasonable judgment. Operator agrees to provide notice to
Customer of Operator’s intent to assign this Agreement at least 10 days prior to any such assignment and to provide information concerning the creditworthiness of the assignee as Customer may reasonably request. Customer agrees to enter into a
confidentiality agreement with assignee of a customary type with respect to the information provided. In the case of an assignment in connection with the sale of the Terminal, Operator shall be relieved of any further liability hereunder effective
on the date of such assignment. Notwithstanding the foregoing, no assignment shall relieve Operator of any obligations for breach of this Agreement occurring prior to the effective date of any assignment. 

 24. Miscellaneous. 

(a) This Agreement constitutes the entire agreement between the Parties hereto concerning the subject matter and there are no
oral promises, agreements or warranties affecting it. 
 (b) The titles of various sections contained herein are inserted
for convenience only and are not part of this Agreement. 
 (c) The right of either Party to require strict performance by
the other Party to this Agreement shall not in any way be affected by previous waiver, forbearance or course of dealing. 

(d) Each Party shall comply strictly with all applicable statutes, ordinances, rules, regulations, permits and ordinances
imposed by any governmental authority in any activity of either Party hereunder and this Agreement is made subject to all applicable statutes, ordinances, rules, regulations, orders and permits. 

(e) This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors
and assigns. 
 (f) Whenever in this Agreement a Party is made responsible for loss or damage resulting from that
Party’s negligence if the other Party’s negligence contributed to such loss or damage, then as between the Parties the financial responsibility for such loss or damage shall be allocated based on their comparative negligence. 

(g) This Agreement shall be governed and interpreted in accordance with the laws of the State of Rhode Island without regard
to its choice of law principles. 
  

			
	DUNELLEN, LLC
		
	By:	 	 /s/ Todd D. Turcotte

		 	Todd D. Turcotte, Vice President
	
	SPRAGUE OPERATING RESOURCES LLC
		
	By:	 	 /s/ T. Flaherty

 SCHEDULE A 
  

																					
	 EXISTING TANK DATA
	 	 PER CTC TANK CHARTS

(SHELL CAPACITY)
	 
	 	 	 	 	Last	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Year	 	Inspection	 	 	 	 	 	 	 	Maximum Fill	 	Maximum Fill	 	 	Maximum Fill	 
	 Tank
	 	 Installed
	 	 Date
	 	 Diam
	 	 Height
	 	 Product
	 	 Height (ft)
	 	 Volume (gal)
	 	 	 Volume (Bbls)
	 
	T25	 	2000	 	2010	 	60	 	48	 	ULSD	 	47’8	 	 	1,007,245	  	 	 	23,982	  
	T32	 	2000	 	2010	 	70	 	48	 	#2	 	46’8	 	 	1,339,151	  	 	 	31,885	  
	T67	 	1966	 	2013	 	100	 	48	 	ULSD	 	48’0”	 	 	2,814,049	  	 	 	67,001	  
	T97	 	1966	 	2008	 	120	 	48	 	ULSD/#2/K	 	48’0”	 	 	4,049,835	  	 	 	96,425	  
	T175	 	2006	 	2013	 	150	 	56	 	#2	 	55’10”	 	 	7,354,472	  	 	 	175,106	  
	T151	 	2005	 	2011	 	140	 	56	 	#2	 	55’10”	 	 	6,411,675	  	 	 	152,659	  
	T152	 	1987	 	2011	 	140	 	56	 	#2	 	55’6”	 	 	6,375,588	  	 	 	151,800	  
	T153	 	2004	 	2010	 	140	 	56	 	#2	 	56’0”	 	 	6,409,847	  	 	 	152,615	  
	T154	 	2000	 	2009	 	140	 	56	 	#2	 	55’8”	 	 	6,429,433	  	 	 	153,082	  
	Total Facility Capacity	 		 	 	42,191,295	  	 	 	1,004,555	  

 APPENDIX B 

TERMINAL ACCESS AGREEMENT 
 This Terminal
Access Agreement made and entered into as of this     day of         , 2014 by and between Sprague Operating Resources LLC, a Delaware limited liability company with an address at 185
International Drive, Portsmouth, New Hampshire 03801 (“Sprague”) and Capital Terminal Company, a Rhode Island corporation with an address at 100 Dexter Road, East Providence, Rhode Island 02914 (“CTC”). 

RECITALS 
 CTC operates a petroleum storage
terminal at 100 Dexter Road, East Providence, Rhode Island (the “Terminal”) under a contract with its affiliate, Dunellen LLC, a Delaware limited liability company (“Dunellen”). Dunellen and Sprague entered into a Petroleum
Storage Services Agreement, dated             ,2014 (the “ Services Agreement”) pursuant to which Sprague agreed and Dunellen agreed to cause CTC to enter into this Agreement.

 Sprague and CTC agree as follows: 
  

	 	1.	Terminal Privileges; Employee Designation. 

  

	 	(a)	These provisions shall apply to all access privileges granted by CTC from time to time at the request of Sprague with respect to the Terminal to any customers of Sprague from and after the date hereof. CTC may in its
sole discretion change, amend or modify the access privileges during the term of this Agreement and any such change, amendment or modification will become binding upon Sprague and its customers immediately upon notification from CTC.

  

	 	(b)	Sprague will designate to CTC in writing the names of its customers and their respective employees it desires to authorize to use the access privileges for the Terminal by having such customer submit a completed form of
authorization countersigned by Sprague in the form attached hereto as Exhibit A or in another form acceptable to CTC. By submitting the authorization, Sprague represents to CTC that the employee is competent and properly trained in the operation of
his equipment. Upon receipt and review of the information presented, CTC will grant access privileges to the properly designated customer employees in accordance with the terms of this Agreement. In addition to the other rights reserved hereunder,
CTC reserves the right in its sole discretion to immediately suspend access privileges with respect to any employee of any Sprague’s customers provided that CTC believes that such employee poses a threat to safety of such employee or others.

  

	 	2.	 Account; Access Procedures. Each Sprague customer must use an account number, account card, driver access card or other method designated by
Sprague as a condition to access the Terminal. CTC and Sprague will agree on the required method of exercising access privileges at the Terminal. Sprague will provide to Sprague’s customers access cards and any other materials compatible with
CTC’s existing systems. All cards or other materials furnished by Sprague as well as any 

	 	
replacements thereof may only be used for the exercise of the access privileges and may not be duplicated by Sprague or any of Sprague’s customers or employees. Account cards or similar
materials (the “Account Materials”) for Sprague’s customers that will load Products must be safeguarded and kept confidential by Sprague’s customers at all times. Sprague’s customers may not use the Account Materials for any
party other than the party for which is loading or delivering product under this Agreement. Sprague’s customers must notify CTC of any misappropriation, theft or loss (“Misappropriation”) of any account numbers, account materials,
driver access cards or related materials that were in such customer’s custody at the time of the Misappropriation. Sprague and its customers will be solely responsible for the payment to CTC of all damages resulting from such Misappropriation
prior to the receipt by CTC of notification from either Sprague or its customer followed by prompt written notice of the Misappropriation. All telephone notices must be made to (401) 435-7171. Facsimile confirmation of the notice must be sent
to CTC at (401) 435-7171, Attention: Todd D. Turcotte within 24 hours following such telephonic notification. 

  

	 	3.	Compliance with Laws and Terminal Rules. Sprague and each of its customers agree to abide by all applicable laws, orders, rules and regulations (“Laws”) promulgated by any federal, state or local
government authority having jurisdiction with respect to the use of the Terminal and the loading, handling, transportation or storage of the Products. Such Laws include, but are not limited to, the United States Clean Air Act and regulations
promulgated thereunder and applicable United States Department of Transportation, United States Coast Guard and United States Department of Homeland Security rules and regulations and National Maritime Security Initiatives. Each Sprague customer
must comply with all posted signs and other rules and regulations as may be issued from time to time by CTC with respect to the use of the Terminal. All changes to rules and regulations of the Terminal will become effective as soon as they are
posted at the Terminal. Exhibit B lists the minimum requirements that each customer of Sprague must meet in connection with access privileges under this Agreement. 

 

	 	4.	Safe Delivery. CTC may (but is not obligated to) refuse to deliver any Products into any transport vehicle furnished by a Sprague customer or Sprague in its sole discretion that it believes would be a violation
of any Laws or dangerous or hazardous to persons or properties for the Products to be delivered into, contained in or transported by such transport vehicle. CTC will not be liable to Sprague or any Sprague customer or any other person by reason of
any such refusal. CTC will not be required to investigate whether it is unsafe or hazardous for the Products to be delivered into or contained or transported in any such vehicle. 

 

	 	5.	 Termination. The access privileges are temporary in nature and may be terminated by CTC in its sole discretion in whole or as to any one or
more employees of Sprague’s customers at any time by providing notice of termination to Sprague and to such customer. Any termination will be effective upon notification to Sprague and to such customer. Upon termination, any such customer must
immediately return or cause to be returned to CTC all driver access cards or other materials furnished to 

	 	
such customer. CTC agrees at the request of Sprague at any time and from time to time and for any reason during the term hereof to deny access to any Sprague customer. 

 

	 	6.	Indemnity. Sprague agrees to indemnify, hold harmless and defend CTC, its subsidiaries and affiliates and each of their respective officers, directors, agents, employees, representatives, successors and assigns
(collectively, the “CTC Parties”) from and against any and all claims, demands, damages, fines, penalties, losses, causes of action, liabilities and judgments (collectively, “Claims”) of any kind (including expenses, litigation,
court costs and reasonable attorneys’ fees) arising out of any negligent or wrongful act or omission of Sprague or any Sprague customer, including, without limitation, Claims for (i) damages to any property, injury to or death of any
person (including, but not limited to, employees of any Sprague customer); (ii) breach of this Agreement by Sprague or any of its customers, its officers, agents, employees and contractors (collectively, the “Customer Parties”); and
(iii) violation of any Laws by Sprague or any Sprague customer. The foregoing indemnity shall apply even if the Claim is based in part upon the joint or concurrent negligence or strict liability of any Customer Parties; provided, however, no
such customer shall be required to indemnify CTC for any Claim determined by final judgment of a court of competent jurisdiction to have been caused by the negligence or wrongful act or omission of the CTC Parties. 

 

	 	7.	No Claim. Sprague acknowledges that CTC shall have no financial liability for the failure of any Sprague customer to make any payments to Sprague required to be made pursuant to any agreement between Sprague and
any of its customers. CTC’s sole responsibility will be to receive and monitor the limits with respect to any Sprague Customer. Sprague acknowledges that CTC’s system will cut off a customer only after a customer has exceeded its limits
and as such a customer drawing Products at a time that its limit has not been exceeded may in fact be able to receive Products in excess of its limits. CTC will only be responsible if it fails to input customer limits into its system as a result of
its negligence and not otherwise, and then only to the extent set forth in the Services Agreement. 

  

	 	8.	Insurance Requirements. Each Sprague customer must at all times comply with all Laws with respect to Workers’ Compensation, employers’ liability and occupational insurance. Each such customer must
obtain and furnish to Sprague and to CTC at the address set forth above certificates of insurance reflecting that such customer has in such force and effect such types and amounts of insurance set forth in Exhibit C attached hereto and made a part
hereof with companies reasonably satisfactory to Sprague and to CTC. CTC may, in its sole discretion, change any and all coverage set forth in Exhibit C by delivering a revised form to Sprague and Sprague agrees to be bound by the terms thereof and
to cause each of its customers to provide the insurance required thereby. 

	 	9.	Department of Transportation Rules. Prior to transporting any Products or detergent additives loaded at or delivered to the Terminal hereunder, any Sprague customer and its driver must: 

 

	 	(a)	make or cause to be made the following certification on the Product transfer documentation covering the Product or detergent additives received. 

 

	 	 	“If required by 49 CFR 172.204 this is to certify that the above-named materials are properly classified, described, packaged, marked and labeled and are in proper condition for transportation according to the
applicable regulations of the Department of Transportation.” 

  

	 	 	“Carrier hereby certifies that the cargo tank used for this shipment is a proper container for the commodity loaded therein and complies with the Department of Transportation’s specifications and certifies
that the cargo tank is properly packaged and marked to comply with the regulations pertaining to hazardous materials.” 

  

	 	(b)	have in any vehicle transporting Products with detergent additives at all times during the transportation of the Products, the most current addition of the Department of Transportation Emergency Response Guidebook
pursuant to the requirements of 49 CFR 172.602, as amended. 

  

	 	10.	Miscellaneous. This Agreement and where applicable any transportation services to Sprague and its customers or parties constitute the entire agreement between the parties relating to the subject matter hereof and
supersede and terminate as of the date hereof any prior agreement between the parties covering the loading or delivering of Products at the Terminal to Sprague’s customers. This Agreement shall be governed by the laws of the State of Rhode
Island without regard to Rhode Island’s conflicts of laws, rules or principles. Any invalid provision or part thereof of this Agreement shall be deemed severed from the valid provisions which shall remain in full force and effect and shall be
construed in such a manner as to effectuate the original intent of the parties as fully as possible without violating applicable laws. 

  

	 	11.	Assignment. The terms and conditions hereof are binding on and shall inure to the benefit of the parties hereto, their respective legal representatives, successors and assigns. 

 

			
	CAPITAL TERMINAL COMPANY
		
	By:	 	  

	
	SPRAGUE OPERATING RESOURCES LLC
		
	By:	 	  

 EXHIBIT A 

TO CARRIER ACCESS AGREEMENT 

ACCESS AUTHORIZATION 
 Carrier hereby authorizes
the following identified employees to exercise the Access Privileges granted to Carrier under and in accordance with the terms and conditions of that certain Carrier Access Agreement between Sprague Operating Resources LLC and Capital Terminal
Company (“Agreement”). 
  

							
	Names of Employee Drivers:	  		  	Driver’s License Numbers:
			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

			
	  
	  		  	  

	  
 Carrier may from time to time add, delete or substitute employees under
this Exhibit A by giving FAX notification of such change to Sprague Operating Resources LLC,c/o                      at
[                    ] and Capital Terminal Company at 401-435-3715 providing all information required with respect to any new or substituted
employee. Any such addition, deletion or substitution will be subject to all terms and conditions of the Agreements
	  		  	 Carrier
  

		  		  	By:	  	  

		  		  	Title:	  	  

		  		  	Date:	  	  

			
		  		  	 APPROVED:
 Sprague Operating
Resources LLC

				
		  		  	By:	  	  

		  		  	Title:	  	  

		  		  	Date:	  	  

 EXHIBIT B 

TO CARRIER ACCESS AGREEMENT 

SAFETY PRACTICES AND ACCESS SYTEM 
  

	1.	All of Carrier’s employees or agents entering a Terminal must be trained in all safety and security requirements of the Terminal and must strictly follow how requirements (including any requirements regarding
protective or fire retardant clothing). 

  

	2.	All tank trucks must display placarding in accordance with applicable federal, state and local laws, rules and regulations. 

  

	3.	All tank trucks and related equipment must be maintained in a safe condition, free from leaks and in all respects suitable for loading. 

 

	4.	Drivers loading any Products must remain in attendance at the loading equipment at all times during the loading process. Loading valves may not be blocked open. 

 

	5.	When the loading rack space is clear, the driver is to proceed to proper loading position, come to a complete stop and shut down engines and all electrical equipment. All engines must be turned off while waiting for a
loading position to become available. 

  

	6.	Drivers loading flammable products (including asphalts loaded above their flash points) must immediately ground tanks and loading spouts upon stopping at a loading position. Grounds may not be removed until other
loading equipment has been removed from the truck after loading. 

  

	7.	No work or repair of any kind may be performed on the tractor or trailer while at the loading rack. If a truck stalls or cannot be started while at the loading rack, it must be towed away from the rack before any work
is performed to get it started. No units may be pushed from the rack area nor may jumper cables be utilized inside Terminal gates. 

  

	8.	In the event of a spill (of any size) the truck must not be started or moved until the spill has been cleaned up, unless otherwise expressly directed by Terminal personnel. Terminal personnel and Sprague must be
immediately notified of any spill. 

  

	9.	Smoking is not permitted inside the Terminal gates. No loitering is permitted inside the Terminal gates. 

  

	10.	Only authorized drivers are permitted inside the Terminal gates (i.e., no passengers). 

  

	11.	Emergency telephone numbers are posted and all drivers must be familiar with them. Emergency firefighting equipment is located in the loading rack area, and all drivers must be familiar with the locations.

  

	12.	Before using the loading facilities, a driver must complete the training described above; and have loaded, at the facility, during daytime hours when the Terminal is manned, a sufficient number of loads to satisfy
Sprague and/or the Terminal that the driver understands the procedures. 

  

	13.	Drivers finding any questionable conditions existing upon arrival at a Terminal (e.g. gate open, unlocked or damages; loading rack vandalized; loading arm in other than correct rest position; all lights out) must
contact Capital Terminal Company (or its designated representative) before proceeding beyond the discovered condition. 

 EXHIBIT C TO 

CARRIER ACCESS AGREEMENT 

MINIMUM INSURANCE REQUIREMENTS 
  

	1.	Commercial Auto Liability 

  

	 	(i)	Limits - combined single limit of not less than $1,000,000 per occurrence. 

  

	 	(ii)	Coverages: 

  

	 	(1)	Owned vehicles 

  

	 	(2)	Hired vehicles 

  

	 	(3)	Non-owned vehicles 

  

	 	(4)	Mobile equipment 

  

	 	(5)	Environmental restoration in accordance with the MCS-90 endorsement as prescribed under sections 29 and 30 of the Motor Carrier Act of 1980 

 

	 	(iii)	In the event the Access Privileges provided to Carrier by Sprague Operating Resources LLC or Capital Terminal Company include the lifting of liquefied petroleum gas products, then the required limit of insurance set
forth in Paragraph 1(i) is not less than a combined single limit of $5,000,000 per occurrence. 

  

	 	(iv)	“Sprague Operating Resources LLC and Capital Terminal Company, their respective subsidiaries and affiliates, and each of their officers, directors, and employees” (collectively, “Terminal Insureds”),
must be named as additional insureds as to all comprehensive auto liability policies. 

  

	 	(v)	Coverage may consist of primary and excess of policies. 

  

	 	(vi)	Coverage is to be primary to any insurance coverage carried by the Terminal Insureds. 

  

	2.	General Liability 

  

	 	(i)	Limits – combined single limit of not less than $1,000,000 per occurrence. 

  

	 	(ii)	Coverages: Premise Liability, Sudden and Accidental Pollution, Fire Damage and Medical Expense. 

  

	 	(iii)	The Terminal Insureds must be named as additional insureds as to all general liability policies. 

  

	 	(iv)	Coverage may consist of primary and excess of policies. 

  

	 	(v)	Coverage is to be primary to any insurance coverage carried by the Terminal Insureds. 

  

	3.	Workers’ Compensation/Employer’s Liability 

  

	 	(i)	Workers’ compensation insurance must be maintained to comply with the statutory limits, including occupational disease, for the state in which operations are conducted: 

 

	 	(ii)	Employer’s Liability Coverages: 

  

	 	A.	$100,000 per accident 

  

	 	B.	$100k,000 disease, each employee 

	 	C.	$500,000 disease policy limit 

  

	4.	Provisions Applicable to All Policies Described Above 

  

	 	(i)	Carrier and its insurers agree to waive their rights of subrogation against the Terminal Insureds under all policies described herein. 

 

	 	(ii)	Carrier agrees that it is solely responsible for all premium payments, audits, deductibles, retro adjustments or any other payments due insurers by Carrier and that the Terminal Insureds have no liability therefore.

  

	 	(iii)	All policies must require that the insurer provide Terminal Insureds with at least 30 days’ notice of any cancellation or non-renewal of coverage. 

 

	 	(iv)	Carrier must have its insurers provide certificates of insurance to Terminal Insureds evidencing that the coverage required herein is in full force and effect throughout the term of the Agreement.

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