Document:

EXHIBIT 10.1

 Exhibit 10.1 
 Execution Copy 
 HOST HOTELS & RESORTS, L.P.

 HOST HOTELS & RESORTS, INC. 
 2.50% Exchangeable Senior Debentures due 2029 
 Registration Rights
Agreement 
 December 22, 2009 
 Deutsche Bank Securities Inc. 
 Merrill Lynch, Pierce, Fenner & Smith Incorporated

 J.P. Morgan Securities Inc. 
     As representatives of the several Initial Purchasers 
     named in Schedule I to the
Purchase Agreement, 
 c/o Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, New York 10005 
 Merrill Lynch, Pierce, Fenner & Smith Incorporated 
 One Bryant Park 
 New York, New York 10036 
 J.P. Morgan Securities Inc. 
 383 Madison Avenue

 New York, New York 10179 
 Ladies
and Gentlemen: 
 Host Hotels & Resorts, L.P., a Delaware limited partnership (the “Company”),
proposes to issue and sell to the Initial Purchasers (as defined herein) upon the terms set forth in the Purchase Agreement (as defined herein) the Company’s 2.50% Exchangeable Senior Debentures due 2029 (the “Debentures”),
exchangeable into common stock, par value $0.01 per share (“Host REIT Common Stock”) of Host Hotels & Resorts, Inc., a Maryland corporation (“Host REIT”). As an inducement to the Initial Purchasers to enter
into the Purchase Agreement and in satisfaction of a condition to the obligations of the Initial Purchasers thereunder, the Company and Host REIT agree with the Initial Purchasers for the benefit of Holders (as defined herein) from time to time of
the Registrable Securities (as defined herein) as follows: 
 1. Definitions. 
 (a) Capitalized terms used herein without definition shall have the meanings ascribed to them in the Purchase Agreement. As used in this
Agreement, the following defined terms shall have the following meanings: 
 “Act” or “Securities
Act” means the United States Securities Act of 1933, as amended. 

 “Affiliate” of any specified person means any other person which, directly
or indirectly, is in control of, is controlled by, or is under common control with such specified person. For purposes of this definition, control of a person means the power, direct or indirect, to direct or cause the direction of the management
and policies of such person whether by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 
 “Automatic Shelf Registration Statement” shall mean a Shelf Registration Statement which shall become effective upon filing thereof pursuant to General Instruction I.D of Form S-3.

 “Closing Date” has the meaning set forth in the Purchase Agreement. 
 “Commission” means the United States Securities and Exchange Commission, or any other federal agency at the time
administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 
 “DTC” means The Depository Trust Company. 
 “Effective Failure” has the meaning
assigned thereto in Section 7(b) hereof. 
 “Effectiveness Period” has the meaning assigned thereto in
Section 2(b)(i) hereof. 
 “Effective Time” means the time at which the Commission declares the Shelf
Registration Statement effective or at which the Shelf Registration Statement otherwise becomes effective or, in the case of designation of an Automatic Shelf Registration Statement as the Shelf Registration Statement, the date a Prospectus is first
made available for use thereunder by the Holders. 
 “Electing Holder” has the meaning assigned thereto in
Section 3(a)(iii) hereof. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as
amended. 
 “FINRA Rules” means the Conduct Rules of the Financial Industry Regulatory Authority, Inc., as
amended from time to time. 
 “Holder” means any person that is the record owner of Registrable Securities (and
includes any person that has a beneficial interest in any Registrable Security in book-entry form). 
 “Host REIT Common
Stock” means Host REIT’s common stock, par value $0.01 per share. 
  

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 “Indenture” means the Amended and Restated Indenture, dated as of
August 5, 1998 by and among Host Hotels & Resorts, L.P. (formerly known as Host Marriott, L.P., which was previously known as HMH Properties, Inc.), the guarantors named therein and The Bank of New York Mellon (formerly known as The
Bank of New York), as successor to HSBC Bank USA (formerly known as Marine Midland Bank), as trustee (the “Trustee), as amended or supplemented from time to time (the “Base Indenture”) together with the Thirty-Second Supplemental
Indenture, to be dated as of December 22, 2009, by and among the Company, Host REIT, the Guarantors (as defined in the Purchase Agreement) and the Trustee, as amended and supplemented from time to time in accordance with its terms. 

“Initial Purchasers” means the Initial Purchasers named in Schedule B to the Purchase Agreement. 
 “Liquidated Damages” has the meaning assigned thereto in Section 7 hereof. 
 “Managing Underwriters” means the investment banker or investment bankers and manager or managers that shall administer an
underwritten offering, if any, conducted pursuant to Section 6 hereof. 
 “Notice and Questionnaire” means
a Notice of Registration Statement and Selling Securityholder Questionnaire substantially in the form of Appendix A hereto. 
 The term “person” means an individual, partnership, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 
 “Prospectus” means the prospectus (including, without limitation, any preliminary prospectus, any final prospectus and any
prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A or 430B under the Act) included in the Shelf Registration Statement, as amended or
supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by the Shelf Registration Statement and by all other amendments and supplements to such prospectus, including
all material incorporated by reference in such prospectus and all documents filed after the date of such prospectus by Host REIT under the Exchange Act and incorporated by reference therein and, to the extent applicable and permitted in connection
with any transaction, any “issuer free writing prospectus,” as such term is defined in Rule 433 under the Securities Act. 
 “Purchase Agreement” means the purchase agreement, dated as of December 15, 2009 between the Initial Purchasers, the Company, Host REIT and the Guarantors named therein relating to the Debentures. 
 “Registrable Securities” means all shares of Host REIT Common Stock issuable upon exchange, repurchase or redemption of the
Debentures; provided, however, that a security ceases to be a Registrable Security when it is no longer a Restricted Security. 
 “Registration Default” has the meaning assigned thereto in Section 7 hereof. 
 “Restricted Security” means any share of Host REIT Common Stock issuable upon exchange of the Debentures except any such share of Host REIT Common Stock which (i) has been
effectively registered under the Securities Act and sold in a manner contemplated by the Shelf Registration Statement, (ii) has been transferred or the Debentures’ for which such securities are exchangeable have been transferred in
compliance with Rule 144 under the Securities Act (or any successor provision thereto) or has become transferable pursuant to Rule 144 (or any successor provision thereto). 
  

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 “Rule 415” means Rule 415 promulgated pursuant to the Securities Act, as
such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission. 
 “Rules and Regulations” means the published rules and regulations of the Commission promulgated under the Securities Act or the Exchange Act, as in effect at any relevant time. 
 “Shelf Registration” means a registration effected pursuant to Section 2 hereof. 
 “Shelf Registration Statement” means a “shelf” registration statement filed under the Securities Act on Form S-3
or, if not then available to Host REIT, on another appropriate form, of Host REIT pursuant to the provisions of Section 2 of this Agreement, providing for the registration of, and the sale on a continuous or delayed basis by the Holders of, all
of the Registrable Securities pursuant to Rule 415 and/or any similar rule that may be adopted by the Commission, filed by Host REIT pursuant to the provisions of Section 2 of this Agreement, including the Prospectus contained therein, any
amendments and supplements to such registration statement, including post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. 
 “Suspension Period” has the meaning assigned thereto in Section 2(d) hereof. 
 “Supplemental Indenture” shall mean the Thirty-Second Supplemental Indenture to the Indenture, to be dated as of
December 22, 2009, by and among the Company, Host REIT, the Guarantors (as defined in the Purchase Agreement) and the Trustee. 
 “Trustee” shall have the meaning set forth in the Indenture. 
 The term
“underwriter” means any underwriter of Registrable Securities in connection with an offering thereof under a Shelf Registration Statement. 
 Wherever there is a reference in this Agreement to a percentage of the “principal amount” of Debentures, Host REIT Common Stock shall be treated as representing the principal amount of
Debentures that was surrendered for conversion or exchange in order to receive such number of shares of Host REIT Common Stock. 
 2. Shelf Registration. 
 (a) Host REIT shall, no later than 150 calendar days following the Closing Date,
(1) file with the Commission a Shelf Registration Statement relating to the offer and sale of the Registrable Securities by the Holders from time to time in accordance with the methods of distribution elected by such Holders and set forth in
such Shelf Registration Statement and, if the Shelf Registration Statement is not an Automatic Shelf Registration Statement, Host REIT thereafter shall use its commercially reasonable efforts to cause such Shelf Registration Statement to be declared
effective under the Act no later than 210 calendar days following the Closing Date or (2) solely at its option, in lieu of filing a shelf registration statement and causing such registration statement to be declared effective as described in
clause (i) above, designate, by means of an Officers’ Certificate (as defined in the Indenture), an existing Automatic Shelf Registration Statement as a Shelf Registration Statement able to be used for resales of the Registrable
Securities. In the event that Host REIT exercises this option (which it is not obligated to do), it shall be obligated to use its commercially reasonable efforts to prepare and file a supplement to the Prospectus, if necessary, to cover resales of
the Registrable Securities by the Holders no later than 210 calendar days following the Closing Date. Notwithstanding the foregoing, (1) Host REIT may, upon written notice to the Trustee, postpone having the Shelf Registration Statement
declared effective, or the preparation,

  

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pursuant to clause (2) of the previous sentence of this Section 2(a), of a supplement to an Automatic Shelf Registration Statement, if applicable, for a reasonable period not to exceed
90 days if Host REIT possesses material non-public information, the disclosure of which would have a material adverse effect on Host REIT and its subsidiaries taken as a whole as determined by the CEO or CFO of Host REIT and subject to its
obligations to pay Liquidated Damages as provided in Section 7 and (2) no Holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the Prospectus forming a part thereof for resales of
Registrable Securities unless such Holder is an Electing Holder. 
 (b) Host REIT shall use its commercially reasonable efforts:

 (i) to keep the Shelf Registration Statement continuously effective under the Act in order to permit the
Prospectus forming a part thereof to be usable by Holders for a period expiring on the earlier of (1) the sale of all Registrable Securities registered under the Shelf Registration Statement and (2) one year after the last date that
Debentures have been exchanged for shares of Host REIT Common Stock has been issued (such period being referred to herein as the “Effectiveness Period”); 
 (ii) after the Effective Time of the Shelf Registration Statement, promptly upon the request of any Electing Holder of
Registrable Securities, to take any action reasonably necessary to enable such Electing Holder to use the Prospectus forming a part thereof for resales of Registrable Securities, including, without limitation, any action necessary to identify such
Electing Holder as a selling securityholder in the Shelf Registration Statement; and 
 (iii) if at any time the
Debentures, pursuant to Article 6.05 of the Supplemental Indenture, are exchangeable into securities other than Host REIT Common Stock, to cause, or to cause any successor under the Indenture to cause such securities to be included in the Shelf
Registration Statement or a replacement shelf registration statement no later than the date on which the Debentures may then be exchangeable or convertible into such securities. 
 (c) Host REIT shall be deemed not to have used its commercially reasonable efforts to keep the Shelf Registration Statement effective during
the requisite period if Host REIT voluntarily takes any action that would result in Holders of Registrable Securities covered thereby not being able to offer and sell any of such Registrable Securities during that period, unless (i) Host REIT
is required by applicable law, or (ii) if the CEO or CFO of Host REIT shall have determined in good faith that under circumstances related to acquisition or divestiture of assets, pending corporate developments, public filings with the
Commission, or other similar events, it is in the best interests of Host REIT to suspend the use of the Prospectus. 
 (d) Host
REIT may suspend the use of the Prospectus for a period not to exceed 30 days in any 90-day period or an aggregate of 90 days in any 360 day period (each a “Suspension Period”) for the reasons set forth in 2(c) above if, prior to
suspending such use, Host REIT provides the Holders with written notice of such suspension, which notice need not specify the nature of the event giving rise to such suspension; provided, however, that in the event of any such suspension, the
Effectiveness Period shall be extended by the number of days equal to the suspension period. 
  

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 3. Registration Procedures. In connection with the Shelf Registration Statement, the
following provisions shall apply: 
 (a) 
 (i) Not less than 30 calendar days prior to the Effective Time of the Shelf Registration Statement, Host REIT shall mail the
Notice and Questionnaire to the Trustee for delivery to the Holders. No Holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement as of the Effective Time, and no Holder shall be entitled to use the
Prospectus forming a part thereof for resales of Registrable Securities at any time, unless such Holder has returned a completed and signed Notice and Questionnaire to Host REIT by the deadline for response set forth therein; provided,
however, Holders of Registrable Securities shall have at least 28 calendar days from the date on which the Notice and Questionnaire is first mailed to such Holders to return a completed and signed Notice and Questionnaire to Host REIT.

 (ii) After the Effective Time of the Shelf Registration Statement, Host REIT shall, upon the request of any
Holder of Registrable Securities that is not then an Electing Holder, promptly send a Notice and Questionnaire to such Holder. Host REIT shall not be required to take any action to name such Holder as a selling securityholder in the Shelf
Registration Statement or to enable such Holder to use the Prospectus forming a part thereof for resales of Registrable Securities until such Holder has returned a completed and signed Notice and Questionnaire to Host REIT. If a Notice and
Questionnaire is delivered to Host REIT during a Suspension Period, Host REIT shall not be obligated to take actions to name the Holder delivering such Notice and Questionnaire as a selling security holder in the Shelf Registration Statement until
the termination of such Suspension Period. 
 (iii) The term “Electing Holder” shall mean any
Holder of Registrable Securities that has returned a completed and signed Notice and Questionnaire to Host REIT in accordance with Section 3(a)(i) or 3(a)(ii) hereof. 
 (b) Host REIT shall furnish to the Trustee for delivery to each Electing Holder, as soon as reasonably practicable prior to the Effective
Time, a sufficient number of copies of the Shelf Registration Statement initially filed with the Commission, and shall furnish to the Trustee for delivery to each such Holder, prior to the filing thereof with the Commission, sufficient copies of
each amendment thereto and each amendment or supplement, if any, to the Prospectus included therein, (but not including any reports, other documents and exhibits that are filed with or incorporated by reference in the Shelf Registration Statement
other than any report naming an Electing Holder as a selling securityholder) and shall use its reasonable best efforts to reflect in each such document, at the Effective Time or when so filed with the Commission, as the case may be, such comments as
such Holders and their respective counsel reasonably may propose. 
 (c) Host REIT shall promptly take such action as may be
necessary so that (i) each of the Shelf Registration Statement and any amendment thereto and the Prospectus forming a part thereof and any amendment or supplement thereto (and each report or other document incorporated therein by reference in
each case) complies in all material respects with the Securities Act and the Exchange Act and the Rules and Regulations, (ii) each of the Shelf Registration Statement and any amendment thereto does not, when it becomes effective, contain an
untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) each of the Prospectus forming a part of the Shelf Registration Statement,
and any amendment or supplement to such Prospectus, does not at any time during the Effectiveness Period include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made, not misleading. 
  

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 (d) Host REIT shall promptly advise the Trustee, and shall confirm such advice in writing if
so requested by the Trustee: 
 (i) when a Shelf Registration Statement and any amendment thereto has been filed
with the Commission and when a Shelf Registration Statement or any post-effective amendment thereto has become effective; 
 (ii) of any request by the Commission for amendments or supplements to the Shelf Registration Statement or the Prospectus included therein or for additional information; 
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Shelf Registration Statement or
the initiation of any proceedings for either such purpose; 
 (iv) of the receipt by Host REIT of any
notification with respect to the suspension of the qualification of the securities included in the Shelf Registration Statement for sale in any jurisdiction or the initiation of any proceeding for such purpose; and 
 (v) of the happening of any event or the existence of any state of facts that requires the making of any changes in the Shelf
Registration Statement or the Prospectus included therein so that, as of such date, such Shelf Registration Statement and Prospectus do not contain an untrue statement of a material fact and do not omit to state a material fact required to be stated
therein or necessary to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading (which advice shall be accompanied by an instruction to such Holders to suspend the use of
the Prospectus until the requisite changes have been made, which notice need not specify the nature of the event giving rise to such suspension). 
 (e) Host REIT shall use its reasonable best efforts to prevent the issuance, and if issued to obtain the withdrawal at the earliest possible time, of any order suspending the effectiveness of the Shelf
Registration Statement that would prevent this use. 
 (f) Host REIT shall furnish to the Trustee for delivery to each Electing
Holder, without charge, at least one copy of the Shelf Registration Statement and all post-effective amendments thereto, including financial statements and schedules, and, if such Electing Holder so requests in writing, all reports, other documents
and exhibits that are filed with or incorporated by reference in the Shelf Registration Statement. 
 (g) Host REIT shall,
during the Effectiveness Period, deliver to each Electing Holder, without charge, as many copies of the Prospectus (including, without limitation, each preliminary Prospectus) included in the Shelf Registration Statement and any amendment or
supplement thereto as such Electing Holder may reasonably request; and Host REIT consents (except during a Suspension Period or during the continuance of any event described in Section 3(d)(v) above) to the use of the Prospectus and any
amendment or supplement thereto by each of the Electing Holders in connection with the offering and sale of the Registrable Securities covered by the Prospectus and any amendment or supplement thereto during the Effectiveness Period. 
 (h) Prior to any offering of Registrable Securities pursuant to the Shelf Registration Statement, Host REIT shall (i) register or
qualify or cooperate with the Electing Holders and their respective counsel in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or “blue sky” laws of such
jurisdictions within the United States as any

  

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Electing Holder may reasonably request, (ii) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers and sales in such
jurisdictions for so long as may be necessary to enable any Electing Holder or underwriter, if any, to complete its distribution of Registrable Securities pursuant to the Shelf Registration Statement, and (iii) take any and all other actions
necessary or advisable to enable the disposition in such jurisdictions of such Registrable Securities; provided, however, that in no event shall Host REIT be obligated to (A) qualify as a foreign corporation or as a dealer in securities
in any jurisdiction where it would not otherwise be required to so qualify but for this Section 3(h) or (B) file any general consent to service of process in any jurisdiction where it is not as of the date hereof so subject. 
 (i) Unless any Registrable Securities shall be in book-entry only form, Host REIT shall cooperate with the Electing Holders to facilitate
the timely preparation and delivery of certificates representing Registrable Securities to be sold pursuant to the Shelf Registration Statement, which certificates, if so required by any securities exchange upon which any Registrable Securities are
listed, shall be penned, lithographed or engraved, or produced by any combination of such methods, on steel engraved borders, and which certificates shall be free of any restrictive legends (other than certain REIT related legends) and in such
permitted denominations and registered in such names as Electing Holders may request in connection with the sale of Registrable Securities pursuant to the Shelf Registration Statement. 
 (j) Upon the occurrence of any fact or event contemplated by paragraph 3(d)(v) above, Host REIT shall promptly prepare a post-effective
amendment to any Shelf Registration Statement or an amendment or supplement to the related Prospectus or file any other required document with the Commission so that, as thereafter delivered to purchasers of the Registrable Securities included
therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. If Host REIT
notifies the Trustee of the occurrence of any fact or event contemplated by paragraph 3(d)(v) above, the Electing Holder shall suspend the use of the Prospectus until the requisite changes to the Prospectus have been made. 
 (k) [Intentionally omitted]. 
 (l) Host REIT shall use its reasonable best efforts to comply with all applicable Rules and Regulations in all material respects, and to make generally available to its securityholders as soon as
practicable, but in any event not later than eighteen months after (i) the effective date (as defined in Rule 158(c) under the Securities Act) of the Shelf Registration Statement, (ii) the effective date of each post-effective
amendment to the Shelf Registration Statement, and (iii) the date of each filing by Host REIT with the Commission of an Annual Report on Form 10-K that is incorporated by reference in the Shelf Registration Statement, an earning statement of
Host REIT its subsidiaries complying with Section 11(a) of the Securities Act and the rules and regulations of the Commission thereunder (including, at the option of Host REIT, Rule 158). 
 (m) [Intentionally omitted]. 
 (n) In the event of an underwritten offering conducted pursuant to Section 6 hereof, Host REIT shall, if requested, promptly include or incorporate in a Prospectus supplement or post-effective
amendment to the Shelf Registration Statement such information as the Managing Underwriters reasonably agree should be included therein and to which Host REIT does not reasonably object and shall make all required filings of such Prospectus
supplement or post-effective amendment as soon as practicable after it is notified of the matters to be included or incorporated in such Prospectus supplement or post-effective amendment. 
  

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 (o) Host REIT shall enter into such customary agreements (including an underwriting
agreement in customary form in the event of an underwritten offering conducted pursuant to Section 6 hereof) and take all other appropriate action in order to expedite and facilitate the registration and disposition of the Registrable
Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures substantially identical to those set forth in Section 5 hereof with respect to all
parties to be indemnified pursuant to Section 5 hereof. 
 (p) Host REIT shall: 
 (i) (A) make reasonably available for inspection by the Electing Holders, any underwriter participating in any
disposition pursuant to the Shelf Registration Statement, and any attorney, accountant or other agent retained by such Electing Holders or any such underwriter all relevant financial and other records, pertinent corporate documents and properties of
Host REIT and its subsidiaries, and (B) cause Host REIT’s officers, directors and employees to supply all information reasonably requested by such Electing Holders or any such underwriter, attorney, accountant or agent in connection with
the Shelf Registration Statement, in each case, as is customary for similar due diligence examinations; provided, however, that all records, information and documents that are designated in writing by Host REIT, in good faith, as confidential
shall be kept confidential by such Electing Holders and any such underwriter, attorney, accountant or agent, unless such disclosure is made in connection with a court proceeding or required by law, or such records, information or documents become
available to the public generally or through a third party without an accompanying obligation of confidentiality; and provided further that, if the foregoing inspection and information gathering would otherwise disrupt Host REIT’s
conduct of its business, such inspection and information gathering shall, to the greatest extent possible, be coordinated on behalf of the Electing Holders and the other parties entitled thereto by one counsel designated by and on behalf of the
Electing Holders and other parties; 
 (ii) in connection with any underwritten offering conducted pursuant to
Section 6 hereof, make such representations and warranties to the Electing Holders participating in such underwritten offering and to the Managing Underwriters, in form, substance and scope as are customarily made by Host REIT to underwriters
in primary underwritten offerings of equity and exchangeable or convertible debt securities, provided, that in no event shall the representations and warranties be broader then those set forth in the Purchase Agreement, other than appropriate
changes to reflect changed circumstances or changed legal requirements; 
 (iii) in connection with any
underwritten offering conducted pursuant to Section 6 hereof, obtain opinions of counsel to Host REIT (which counsel and opinions (in form, scope and substance) shall be consistent with the opinions of counsel of Host REIT delivered in
underwritten public offerings and be reasonably satisfactory to the Managing Underwriters) addressed to each Electing Holder participating in such underwritten offering and the underwriters, covering such matters as are customarily covered in
opinions requested in primary underwritten offerings of equity and exchangeable or convertible debt securities and such other matters as may be reasonably requested by such Electing Holders and underwriters (it being agreed that the matters to be
covered by such opinions shall include, without limitation, as of the

  

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date of the opinion and as of the Effective Time of the Shelf Registration Statement or most recent post-effective amendment thereto, as the case may be, the absence from the Shelf Registration
Statement and the Prospectus, including, without limitation, the documents incorporated by reference therein, of an untrue statement of a material fact or the omission of a material fact required to be stated therein (in the case of the Prospectus,
in light of the circumstances in which they were made) or necessary to make the statements therein not misleading; 
 (iv) in connection with any underwritten offering conducted pursuant to Section 6 hereof, obtain “cold comfort” letters and updates thereof from the independent public accountants of Host REIT (and, if necessary, from the
independent public accountants of any subsidiary of Host REIT or of any business acquired by Host REIT for which financial statements and financial data are, or are required to be, included in the Shelf Registration Statement), addressed to each
Electing Holder participating in such underwritten offering (if such Electing Holder has provided such letter, representations or documentation, if any, required for such cold comfort letter to be so addressed) and the underwriters, in customary
form and covering matters of the type customarily covered in “cold comfort” letters in connection with primary underwritten offerings; 
 (v) in connection with any underwritten offering conducted pursuant to Section 6 hereof, deliver such documents and certificates as may be reasonably requested by any Electing Holders participating
in such underwritten offering and the Managing Underwriters, if any, including, without limitation, certificates to evidence compliance with Section 3(i) hereof and with any conditions contained in the underwriting agreement or other agreements
entered into by Host REIT; provided that in no event shall the Company, Host REIT nor any of its officers and directors be required to enter into any agreements not to offer or sell Host REIT Common Stock or other securities (i.e., “lock-up
letters”). 
 (q) Host REIT will use its reasonable best efforts to cause the Host REIT Common Stock issuable upon exchange
of the Debentures to be listed on the New York Stock Exchange or other stock exchange or trading system on which the Host REIT Common Stock primarily trades on or prior to the Effective Time of the Shelf Registration Statement. 
 (r) In the event that any broker dealer registered under the Exchange Act shall be an “affiliate” (as defined in
Rule 2720(f)(1) of the FINRA Rules (or any successor provision thereto)) of Host REIT or has a “conflict of interest” (as defined in Rule 2720(f)(5) of the FINRA Rules (or any successor provision thereto)) and such broker dealer
shall underwrite, participate as a member of an underwriting syndicate or selling group or assist in the distribution of any Registrable Securities covered by the Shelf Registration Statement, whether as a Holder of such Registrable Securities or as
an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, Host REIT shall assist such broker dealer in complying with the requirements of the FINRA Rules, including, without limitation, by (A) engaging a
“qualified independent underwriter” (as defined in Rule 2720(f)(12) of the FINRA Rules (or any successor provision thereto)) to participate in the preparation of the registration statement relating to such Registrable Securities, to
exercise usual standards of due diligence in respect thereto and to recommend the public offering price of such Registrable Securities, (B) indemnifying such qualified independent underwriter to the extent of the indemnification of underwriters
provided in Section 5 hereof, and (C) providing such information to such broker dealer as may be required in order for such broker-dealer to comply with the requirements of the FINRA Rules. 
  

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 (s) Host REIT shall use its commercially reasonable efforts to take all other steps
necessary to effect the registration, offering and sale of the Registrable Securities covered by the Shelf Registration Statement contemplated hereby. 
 (t) Notwithstanding any provision of this Section 3 to the contrary, Host REIT shall not be required to amend or supplement the Shelf Registration Statement during a Suspension Period. 
 4. Registration Expenses. Except as otherwise provided in Section 3, the Company or Host REIT shall bear all fees and expenses
incurred in connection with the performance of its obligations under Sections 2, 3 and 6 hereof and shall bear or reimburse the Electing Holders for the reasonable fees and disbursements of a single counsel selected by a plurality of all Electing
Holders who own an aggregate of not less than 25% of the Registrable Securities covered by the Shelf Registration Statement to act as counsel therefore in connection therewith. Each Electing Holder shall pay all underwriting discounts and
commissions and transfer taxes, if any, relating to the sale or disposition of such Electing Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
 5. Indemnification and Contribution. 
 (a) Indemnification by the Company and Host REIT. Upon the registration of the Registrable Securities pursuant to Section 2 hereof, the Company and Host REIT, jointly and severally, shall
indemnify and hold harmless each Electing Holder and each underwriter, selling agent or other securities professional, if any, which facilitates the disposition of Registrable Securities, and each of their respective officers and directors and each
person who controls such Electing Holder, underwriter, selling agent or other securities professional within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each such person being sometimes referred to as
an “Indemnified Person”) against any losses, claims, damages or liabilities, joint or several, to which such Indemnified Person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Shelf Registration Statement under which such Registrable Securities are to be registered
under the Securities Act, any Prospectus contained therein or furnished by Host REIT to any Indemnified Person, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein not misleading, and the Company and Host REIT hereby, jointly and severally agree, to reimburse such Indemnified Person for any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that neither the Company nor Host REIT shall be liable to any such Indemnified Person in any such case
to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such Shelf Registration Statement or Prospectus, or amendment or
supplement, in reliance upon and in conformity with written information furnished to Host REIT by such Indemnified Person expressly for use therein. 
 (b) Indemnification by the Electing Holders and any Agents and Underwriters. Each Electing Holder agrees, as a consequence of the inclusion of any of such Electing Holder’s Registrable
Securities in such Shelf Registration Statement, and each underwriter, selling agent or other securities professional, if any, which facilitates the disposition of Registrable Securities shall agree, as a consequence of facilitating such disposition
of Registrable Securities, severally and not jointly, to (i) indemnify and hold harmless the Company, Host REIT and their respective directors, officers who sign any Shelf Registration Statement and each person, if any, who controls either the
Company or Host

  

 11 

 
REIT within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, claims, damages or liabilities to which the Company or Host
REIT or such other persons may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in such Shelf Registration Statement or Prospectus, or any amendment or supplement, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in
conformity with written information furnished to Host REIT by such Electing Holder, underwriter, selling agent or other securities professional expressly for use therein, and (ii) reimburse the Company or Host REIT, as applicable, for any legal
or other expenses reasonably incurred by the Company or Host REIT in connection with investigating or defending any such action or claim as such expenses are incurred. 
 (c) Notices of Claims, Etc. Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if
a claim in respect thereof is to be made against an indemnifying party under this Section 5, notify such indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying party shall not relieve it from
any liability which it may have to any indemnified party otherwise than under the indemnification provisions of or contemplated by subsection (a) or (b) above. In case any such action shall be brought against any indemnified party and it
shall notify an indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the
defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of
its election so to assume the defense thereof, such indemnifying party shall not be liable to such indemnified party under this Section 5 for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such
indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the
entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or
claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to, or an admission of,
fault, culpability or a failure to act, by or on behalf of any indemnified party. 
 (d) Contribution. If the
indemnification provided for in this Section 5 is unavailable to or insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect
thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is
appropriate to reflect the relative fault of the indemnifying party and the indemnified party in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as
any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission
or alleged omission to state a material fact relates to information supplied by such indemnifying party or by such indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such

  

 12 

 
statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation (even if the
Electing Holders or any underwriters, selling agents or other securities professionals or all of them were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations
referred to in this Section 5(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees
or expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall
be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The obligations of the Electing Holders and any underwriters, selling agents or other securities professionals in this Section 5(d) to
contribute shall be several in proportion to the percentage of principal amount of Registrable Securities registered or underwritten, as the case may be, by them and not joint. 
 (e) Notwithstanding any other provision of this Section 5, in no event will any (i) Electing Holder be required to undertake
liability to any person under this Section 5 for any amounts in excess of the dollar amount of the proceeds to be received by such Holder from the sale of such Holder’s Registrable Securities (after deducting any fees, discounts and
commissions applicable thereto) pursuant to any Shelf Registration Statement under which such Registrable Securities are to be registered under the Securities Act and (ii) underwriter, selling agent or other securities professional be required
to undertake liability to any person hereunder for any amounts in excess of the discount, commission or other compensation payable to such underwriter, selling agent or other securities professional with respect to the Registrable Securities
underwritten by it and distributed to the public. 
 (f) The obligations of the Company and Host REIT under this Section 5
shall be in addition to any liability which the Company or Host REIT may otherwise have to any Indemnified Person and the obligations of any Indemnified Person under this Section 5 shall be in addition to any liability which such Indemnified
Person may otherwise have to the Company or Host REIT. The remedies provided in this Section 5 are not exclusive and shall not limit any rights or remedies which may otherwise be available to an indemnified party at law or in equity.

 6. Underwritten Offering. Any Holder of Registrable Securities who desires to do so may sell Registrable Securities
(in whole or in part) in an underwritten offering; provided that (i) the Electing Holders of at least 33-1/3% of the Registrable Securities then covered by the Shelf Registration Statement shall request such an offering and (ii) at
least such amount of such Registrable Securities shall be included in such offering; and provided further that Host REIT shall not be obligated to cooperate with more than one underwritten offering during the Effectiveness Period. Upon
receipt of such a request, Host REIT shall provide all Holders of Registrable Securities written notice of the request, which notice shall inform such Holders that they have the opportunity to participate in the offering. In any such underwritten
offering, the investment banker or bankers and manager or managers that will administer the offering will be selected by, and the underwriting arrangements with respect thereto (including the size of the offering) will be approved by, the holders of
a majority of the Registrable Securities to be included in such offering; provided, however, that such investment bankers and managers and underwriting arrangements must be reasonably satisfactory to Host REIT. No Holder may participate in
any underwritten offering contemplated hereby unless (a) such Holder agrees to sell such Holder’s Registrable Securities to be included in the underwritten offering in accordance with any approved underwriting arrangements, (b) such
Holder completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such approved underwriting arrangements, and (c) if such
Holder is not then an Electing Holder, such Holder returns a

  

 13 

 
completed and signed Notice and Questionnaire to Host REIT in accordance with Section 3(a)(ii) hereof within a reasonable amount of time before such underwritten offering. The Holders
participating in any underwritten offering shall be responsible for any underwriting discounts and commissions and fees and, subject to Section 4 hereof, expenses of their own counsel. The Company or Host REIT shall pay all expenses customarily
borne by issuers in an underwritten offering, including but not limited to filing fees, the fees and disbursements of its counsel and independent public accountants and any printing expenses incurred in connection with such underwritten offering.
Notwithstanding the foregoing or the provisions of Section 3(n) hereof, upon receipt of a request from the Managing Underwriter or a representative of holders of a majority of the Registrable Securities to be included in an underwritten
offering to prepare and file an amendment or supplement to the Shelf Registration Statement and Prospectus in connection with an underwritten offering, Host REIT may delay the filing of any such amendment or supplement for up to 90 days if the Board
of Directors or the CEO or CFO of Host REIT shall have determined in good faith that Host REIT has a bona fide business reason for such delay. 
 7. Liquidated Damages. 
 (a) Notwithstanding any
postponement of effectiveness pursuant to Section 2(a) hereof, (i) if on or prior to the 150th
calendar day following the Closing Date, a Shelf Registration Statement has not been filed with the Commission and Host REIT has not exercised its option under Section 2(a)(2)
hereof to designate by means of an Officers’ Certificate (as defined in the Indenture) an Automatic Shelf Registration Statement as a Shelf Registration Statement able to be used for resales of the Registrable Securities, (ii) if the Shelf
Registration Statement is not an Automatic Shelf Registration Statement and on or prior to the 210th calendar day following the Closing Date, such Shelf Registration Statement is not declared effective by the Commission or (iii) if an Automatic Shelf Registration Statement has been designated by
Host REIT solely at its option and in the manner set forth in Section 2(a)(2) and on or prior to the 210th calendar day following the Closing Date, Host REIT has not prepared and filed with the Commission a supplement to the
Prospectus to cover resales of the Registrable Securities, if necessary (each, a “Registration Default”), the Company shall be required to pay liquidated damages (“Liquidated Damages”), from and including the day
following such Registration Default until such Shelf Registration Statement or supplement to the Prospectus is either so filed or so filed and subsequently declared effective, as applicable, at a rate per annum equal to an additional one-quarter of
one percent (0.25%) of the principal amount of the Debentures, to and including the 90th day following such Registration Default and one-half of one percent (0.50%) thereof from and after the 91st day following such Registration Default. 

(b) In the event that the Shelf Registration Statement ceases to be effective (without being succeeded immediately by an additional Shelf
Registration Statement that is filed and immediately becomes effective) or usable other than as a result of a Suspension Period (or the Holders of Registrable Securities are otherwise prevented or restricted by Host REIT from effecting sales
pursuant thereto) (an “Effective Failure”) for more than ten business days and Host REIT does not restore effectiveness or Host REIT does not terminate a Suspension Period by the 30th day in any 90-day period or if suspension
exceeds 90 days in any 360-day period, then the Company shall pay Liquidated Damages at a rate per annum equal to an additional one-quarter of one percent (0.25%) of the principal amount of the Debentures from the day following the 10th business day
following the date that such Shelf Registration Statement ceases to be effective (or the Holders of Registrable Securities are otherwise prevented or restricted by Host REIT from effecting sales pursuant thereto) or on the 31st or 91st day, as the
case may be, in the case of a Suspension Period, for a period of 90 days, and thereafter shall pay Liquidated Damages at a rate per annum equal to an additional one-half of one percent (0.50%), until the earlier of (i) the time the Shelf
Registration Statement again becomes effective or the Holders of Registrable Securities

  

 14 

 
are again able to make sales under the Shelf Registration Statement or (2) the time the Effectiveness Period expires. For the purpose of determining an Effective Failure, days on which the
Company has been obligated to pay Liquidated Damages in accordance with the foregoing in respect of a prior Effective Failure within the applicable period, as the case may be, shall not be included. 
 (c) In the event Host REIT fails to file a post-effective amendment or prospectus supplement to the Shelf Registration Statement when
required hereunder, or such post-effective amendment is not declared effective, within ten business days following the filing of such post-effective amendment, the Company shall pay Liquidated Damages at a rate per annum equal to an additional
one-half of one percent (0.50%) of the principal amount of the Debentures from and including the date of such Registration Default until such time as such Registration Default is cured. 
 (d) Any amounts to be paid as Liquidated Damages pursuant to paragraphs (a), (b) or (c) of this Section 7 shall be paid in
cash quarterly in arrears, with the first quarterly payment due on the first Interest Payment Date (as defined in the Indenture), as applicable, following the date of such Registration Default or Effective Failure, as applicable. Such Liquidated
Damages will accrue in respect of the Debentures at the rates set forth in paragraphs (a), (b) or (c) of this Section 7, as applicable, on the principal amount of the Debentures. 
 (e) The Liquidated Damages as set forth in this Section 7 shall be the exclusive monetary remedy available to the Holders of
Registrable Securities for such Registration Default or Effective Failure. In no event shall Host REIT be required to pay Liquidated Damages in excess of the applicable maximum amount of one half of one percent (0.50%) set forth above, regardless of
whether one or multiple Registration Defaults or Effective Failures exist. 
 Notwithstanding any provision in this Agreement,
in no event shall Registration Default Damages accrue to holders of Host REIT Common Stock issued upon exchange of Debentures. In lieu thereof, the Company shall increase the Exchange Rate (as defined in the Indenture) by 3% for each $1,000
principal amount of Debentures exchanged at a time when such Registration Default has occurred and is continuing provided, however, that (i) the foregoing adjustment shall not be applied more than once to the same $1,000 principal amount of
Debentures and (ii) if a Registration Default occurs after a Holder has exchanged its Debentures into Host REIT Common Stock, such Holder shall not be entitled to any compensation with respect to such Host REIT Common Stock 
 8. Miscellaneous. 
 (a) Other Registration Rights. Host REIT may grant registration rights that would permit any person that is a third party the right to piggy-back on any Shelf Registration Statement, provided that if the Managing Underwriter
of any underwritten offering conducted pursuant to Section 6 hereof notifies Host REIT and the Electing Holders that the total amount of securities which the Electing Holders and the holders of such piggy-back rights intend to include in any
Shelf Registration Statement is so large as to materially threaten the success of such offering (including the price at which such securities can be sold), then the amount, number or kind of securities to be offered for the account of holders of
such piggy-back rights will be reduced to the extent necessary to reduce the total amount of securities to be included in such offering to the amount, number and kind recommended by the Managing Underwriter prior to any reduction in the amount of
Registrable Securities to be included in such Shelf Registration Statement. 
 (b) Specific Performance. The parties
hereto acknowledge that there would be no adequate remedy at law if Host REIT fails to perform any of its obligations hereunder and that the Initial Purchasers and the Holders from time to time may be irreparably harmed by any such failure, and

  

 15 

 
accordingly agree that the Initial Purchasers and such Holders, in addition to any other remedy to which they may be entitled at law or in equity and without limiting the remedies available to
the Electing Holders under Section 7 hereof, shall be entitled to compel specific performance of the obligations of Host REIT under this Registration Rights Agreement in accordance with the terms and conditions of this Registration Rights
Agreement, in any court of the United States or any State thereof having jurisdiction. 
 (c) Amendments and Waivers.
This Agreement, including this Section 8(c), may be amended, and waivers or consents to departures from the provisions hereof may be given, only by a written instrument duly executed by Host REIT and the holders of a majority of Registrable
Securities then outstanding. Each Holder of Registrable Securities outstanding at the time of any such amendment, waiver or consent or thereafter shall be bound by any amendment, waiver or consent effected pursuant to this Section 8(c), whether
or not any notice, writing or marking indicating such amendment, waiver or consent appears on the Registrable Securities or is delivered to such Holder. 
 (d) Notices. Unless otherwise specified herein, all notices and other communications provided for or permitted hereunder shall be given as provided in the Indenture. For so long as the Debentures
are in Book Entry Form, and as permitted by the DTC, all notices, reports and other documents to the Holders shall be delivered through the facilities of the DTC by the Trustee. 
 (e) Parties in Interest. The parties to this Agreement intend that all Holders of Registrable Securities shall be entitled to receive
the benefits of this Agreement and that any Electing Holder shall be bound by the terms and provisions of this Agreement by reason of such election with respect to the Registrable Securities which are included in a Shelf Registration Statement. All
the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the respective successors and assigns of the parties hereto and any Holder from time to time of the Registrable Securities to
the aforesaid extent. In the event that any transferee of any Holder of Registrable Securities shall acquire Registrable Securities, in any manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any
further writing or action of any kind, be entitled to receive the benefits of and, if an Electing Holder, be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement to the aforesaid extent.

 (f) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 (g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
 (h) Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York,
including, without limitation, Section 5-1401 of the New York General Obligation Law. 
 (i) Severability. In the
event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted by
law. 
  

 16 

 (j) Survival. The respective indemnities, agreements, representations, warranties and
other provisions set forth in this Agreement or made pursuant hereto shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Electing Holder, any director,
officer or partner of such Holder, any agent or underwriter, any director, officer or partner of such agent or underwriter, or any controlling person of any of the foregoing, and shall survive the transfer and registration of the Registrable
Securities of such Holder. 
 [signature pages follow] 
  

 17 

 Please confirm that the foregoing correctly sets forth the agreement between the Company,
Host REIT and you. 
  

			
	Very truly yours,
	
	HOST HOTELS & RESORTS, INC.
		
	By:	 	 /s/ Larry K. Harvey

	Name:	 	Larry K. Harvey
	Title:	 	Executive Vice President,
		 	Chief Financial Official and Treasurer
	
	HOST HOTELS & RESORTS, L.P.
		
	By:	 	 Host Hotels & Resorts, Inc.,
 its sole general partner

		
	By:	 	 /s/ Larry K. Harvey

	Name:	 	Larry K. Harvey
	Title:	 	Executive Vice President,
		 	Chief Financial Official and Treasurer

 [Registration Rights Agreement] 
  

 18 

 Accepted as of the date first written above: 
 Deutsche Bank Securities Inc. 
 Merrill Lynch, Pierce, Fenner & Smith Incorporated

 J.P. Morgan Securities Inc. 
 on
behalf of each of the Initial Purchasers 
  

			
	By: Deutsche Bank Securities Inc.

  

					
		 	By:	 	 /s/ Brooks Harris

		 	Name:	 	Brooks Harris
		 	Title:	 	Managing Director
			
		 	By:	 	 /s/ Andrew Yuger

		 	Name:	 	Andrew Yueger
		 	Title:	 	Managing Director

 By: Merrill Lynch, Pierce, Fenner & Smith Incorporated 
  

					
		 	By:	 	 /s/ Jeff Horowitz

		 	Name:	 	Jeff Horowitz
		 	Title:	 	Head of Americas Real Estate

  

			
	By: J.P. Morgan Securities Inc.

  

					
		 	By:	 	 /s/ Santosh Sreenivasn

		 	Name:	 	Santosh Sreenivasn
		 	Title:	 	Managing Director

 [Registration Rights Agreement] 
  

 19 

 Appendix A 
 HOST HOTELS & RESORTS, L.P. 
 HOST HOTELS &
RESORTS, INC. 
 INSTRUCTION TO DTC PARTICIPANTS 
 (Date of Mailing) 
 URGENT - IMMEDIATE ATTENTION
REQUESTED 
 DEADLINE FOR RESPONSE: [DATE] 
 The Depository Trust Company (“DTC”) has identified you as a DTC Participant through which beneficial interests in the Host
Hotels & Resorts, L.P. (the “Company”) 2.50% Exchangeable Senior Debentures due 2029 (the “Debentures”) are held. 
 Host Hotels & Resorts, Inc. (“Host REIT”) is in the process of registering the shares of common stock, par value $0.01 per share, of Host REIT (the “Host REIT Common Stock”)
under the Securities Act of 1933 for resale by the beneficial owners thereof. In order to have their shares of Host REIT Common Stock included in the registration statement, beneficial owners must complete and return the enclosed Notice of
Registration Statement and Selling Securityholder Questionnaire. 
 It is important that beneficial owners of the Debentures
(and the shares of Host REIT Common Stock into which the Debentures are exchangeable) receive a copy of the enclosed materials as soon as possible as their rights to have shares of Host REIT Common Stock included in the registration statement depend
upon their returning the Notice and Questionnaire by [Deadline for response]. Please forward a copy of the enclosed documents to each beneficial owner that holds interests in the Debentures through you. If you require more copies
of the enclosed materials or have any questions pertaining to this matter, please contact Host Hotels & Resorts, Inc., 6903 Rockledge Drive, Suite 1500, Bethesda, Maryland 20817. 

 HOST HOTELS & RESORTS, L.P. 
 HOST HOTELS & RESORTS, INC. 
 Notice of Registration
Statement 
 and  
 Selling Securityholder Questionnaire 
 [Date] 
 Host Hotels & Resorts, Inc. (“Host REIT”) has filed with the United States Securities and Exchange Commission (the
“Commission”) a registration statement on Form S-3 (the “Shelf Registration Statement”) for the registration and resale under Rule 415 of the United States Securities Act of 1933, as amended (the “Securities
Act”), shares of Host REIT common stock, par value $0.01 per share (the “Host REIT Common Stock”), issuable upon exchange of the 2.50% Exchangeable Senior Debentures due 2029 (the “Debentures”) issued by Host
Hotels & Resorts, L.P., a Delaware limited partnership (the “Company”), in accordance with the Registration Rights Agreement, dated as of December 22, 2009 (the “Registration Rights Agreement”), between the Company,
Host REIT and the initial purchasers named therein. A copy of the Registration Rights Agreement is available upon request from the Company at the address set forth herein. All capitalized terms not otherwise defined herein shall have the meanings
ascribed thereto in the Registration Rights Agreement. 
 In order to have Registrable Securities included in the Shelf
Registration Statement (or a supplement or amendment thereto), this Notice of Registration Statement and Selling Securityholder Questionnaire (“Notice and Questionnaire”) must be completed, executed and delivered to Host REIT at the
address set forth herein for receipt ON OR BEFORE [                    ]. Beneficial owners of Registrable Securities who do not complete, execute
and return this Notice and Questionnaire by such date (i) will not be named as selling securityholders in the Shelf Registration Statement and (ii) may not use the Prospectus forming a part thereof for resales of Registrable Securities.

 Certain legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement and related
Prospectus. Accordingly, holders and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf
Registration Statement and related Prospectus. 
 The term “Registrable Securities” is defined in the Registration
Rights Agreement to mean all shares of Host REIT Common Stock issuable upon exchange of the Debentures; provided, however, that a security ceases to be a Registrable Security when it is no longer a Restricted Security. 
 The term “Restricted Security” is defined in the Registration Rights Agreement to mean any share of Host REIT Common Stock
issuable upon exchange of the Debentures except any such share of Host REIT Common Stock which (i) has been effectively registered under the Securities Act and sold in a manner contemplated by the Shelf Registration Statement, (ii) has
been transferred or the Debentures’ for which such securities are exchangeable have been transferred in compliance with Rule 144 under the Securities Act (or any successor provision thereto) or has become transferable pursuant to Rule 144 (or
any successor provision thereto), or (iii) has otherwise been transferred and a new share of Host REIT Common Stock not subject to transfer restrictions under the Securities Act has been delivered by or on behalf of Host REIT in accordance with
the Indenture. 

 ELECTION 
 The undersigned holder (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the Shelf Registration Statement the Registrable Securities beneficially owned by it
and listed below in Item (3). The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable Securities by the terms and conditions of this Notice and Questionnaire and the
Registration Rights Agreement, including, without limitation, Section 5 of the Registration Rights Agreement regarding the obligation to indemnify and hold harmless certain persons as set forth therein, as if the undersigned Selling
Securityholder were an original party thereto. 
 Upon any sale of Registrable Securities pursuant to the Shelf Registration
Statement, the Selling Securityholder will be required to deliver to Host REIT the Notice of Transfer (completed and signed) set forth in Exhibit 1 to this Notice and Questionnaire. 

 The Selling Securityholder hereby provides the following information to Host REIT and
represents and warrants that such information is accurate and complete: 
 QUESTIONNAIRE 
  

									
	(1)	  	(a)	  	Full Legal Name of Selling Securityholder:
			
		  		  	                                       
                                         
                                         
                                         
                                  
			
		  	(b)	  	Full Legal Name of Registered Holder (if not the same as in (a) above) of Registrable Securities Listed in Item (3) Below:
			
		  		  	                                        
                                         
                                         
                                         
                                  

			
		  	(c)	  	Full Legal Name of DTC Participant (if applicable and if not the same as (b) above) Through Which Registrable Securities Listed in Item (3) Below are
Held:
			
		  		  	                                       
                                         
                                         
                                         
                                  
				
	(2)	  		  	Address for Notices to Selling Securityholder:	  	
					
		  		  		  	 	  	
					
		  		  		  	 	  	
					
		  		  		  	 	  	
					
		  		  	Telephone:	  	 	  	
					
		  		  	Fax:	  	 	  	
					
		  		  	Contact Person: 	  	 	  	
				
	(3)	  		  	Beneficial Ownership of Securities:	  	
			
		  		  	Except as set forth below in this Item (3), the undersigned Selling Securityholder does not beneficially own any Registrable Securities.
			
		  	(a)	  	Principal amount of Debentures beneficially
owned:                                        
                                         
                                 
			
		  		  	CUSIP No(s). of such
Debentures:                                       
                                         
                                         
                    
			
		  		  	 Number of shares of Host REIT Common Stock (if any) issued upon exchange, repurchase or redemption of
Debentures:

			
		  	(b)	  	Number of shares of Registrable Securities which the undersigned wishes to be included in the Shelf Registration Statement:
                                         
                                         
                                         
                                         
                                
			
		  		  	CUSIP No(s). of such Registrable Securities to be included in the Shelf Registration Statement:
                                         
   
			
	(4)	  		  	Beneficial Ownership of Other Securities of Host REIT:
			
		  		  	Except as set forth below in this Item (4), the undersigned Selling Securityholder is not the beneficial or registered owner of any shares of Host REIT Common
Stock or any other securities of Host REIT (or securities of the Company that are convertible or exchangeable for securities of Host REIT), other than the Debentures and shares of Host REIT Common Stock listed above in
Item (3).
			
		  		  	State any exceptions here:

  

					
	(5)	 		  	Relationships with the Company or Host REIT:
			
		 		  	Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors or principal equity holders (5% or more) has held any position or
office or has had any other material relationship with the Company or Host REIT (or their predecessors or affiliates) during the past three years.
			
		 		  	State any exceptions here:
			
	(6)	 		  	Plan of Distribution:
			
		 		  	Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in Item (3) only as follows (if at all): Such
Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder or, alternatively, through underwriters, broker-dealers or agents. Such Registrable Securities may be sold in one or more transactions at fixed
prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any national
securities exchange or quotation service on which the Registrable Securities may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in the
over-the-counter market, or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into hedging transactions with broker-dealers, which may in turn engage in
short sales of the Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver Registrable Securities to close out such short positions, or loan or
pledge Registrable Securities to broker-dealers that in turn may sell such securities.
			
		 		  	State any exceptions here:

 Note: In no event may such method(s) of distribution take the form of an underwritten
offering of the Registrable Securities without the prior agreement of Host REIT. 
 By signing below, the Selling Securityholder
acknowledges that it understands its obligation to comply, and agrees that it will comply, with the prospectus delivery and other provisions of the Securities Act and the Exchange Act and the rules and regulations thereunder, particularly Regulation
M. 
 In the event that the Selling Securityholder transfers all or any portion of the Registrable Securities listed in
Item (3) above after the date on which such information is provided to Host REIT, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice and Questionnaire and
the Registration Rights Agreement. 
 By signing below, the Selling Securityholder consents to the disclosure of the information
contained herein in its answers to Items (1) through (6) above and the inclusion of such information in the Shelf Registration Statement and related Prospectus. The Selling Securityholder understands that such information will be relied
upon by Host REIT in connection with the preparation of the Shelf Registration Statement and related Prospectus. 
  

 In accordance with the Selling Securityholder’s obligation under Section 3(a) of
the Registration Rights Agreement to provide such information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify Host REIT of any inaccuracies or changes in the
information provided herein which may occur subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect. All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing, by
hand-delivery, first-class mail, or air courier guaranteeing overnight delivery as follows: 
  

					
	 (i) To the Company or Host REIT:
	  		  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
	 (ii) With a copy to:
	  		  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	

 Once this Notice and Questionnaire is executed by the Selling Securityholder and
received by Host REIT, the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal
representatives, and assigns of Host REIT and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above). This Agreement shall be governed in all
respects by the laws of the State of New York. 

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

			
	  
 Selling
Securityholder

	(Print/type full legal name of beneficial owner of Registrable Securities)
		
	By:	 	  

	Name:	 	
	Title:	 	

 PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE 
 TO THE COMPANY AT: 
 6903 Rockledge Drive, Suite 1500 
 Bethesda, Maryland 20817 
 Attention: General Counsel 

 Exhibit 1 
 to Appendix A 
 NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT

 Host Hotels & Resorts, Inc. 
 Host Hotels & Resorts, L.P. 
 6903 Rockledge Drive, Suite 1500 
 Bethesda, Maryland 20817 
 Attention: General Counsel 
 Cheryl L. Clarke 
 The Bank of New York Mellon

 101 Barclay Street 
 Floor 8 West

 New York, New York 10286 
 Attention:
Corporate Trust Services 
  

	 	Re:	Host Hotels & Resorts, L.P. (the “Company”) 

	 	  	Host Hotels & Resorts, Inc. (“Host REIT”) 

	 	  	2.50% Exchangeable Senior Debentures due 2029 (the “Debentures”) 

 Dear Sirs: 
 Please be advised
that                             has transferred         shares of
Host REIT’s common stock, issued upon exchange, repurchase or redemption of Debentures, pursuant to an effective Registration Statement on Form         (File No. 333-
        ) filed by Host REIT. 
 We hereby certify that the prospectus delivery
requirements, if any, of the Securities Act of 1933, as amended, have been satisfied with respect to the transfer described above and that the above-named beneficial owner of the Host REIT common stock is named as a selling securityholder in the
Prospectus dated [date], or in amendments or supplements thereto, and that the number of shares of Host REIT common stock transferred are [a portion of] the shares of Host REIT common stock listed in such Prospectus as amended or
supplemented opposite such owner’s name. 
 Dated: 
  

	
	 Very truly yours,
  

	(Name)
	
	 By:
  

	(Authorized Signature)Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 

 
 CREDIT AGREEMENT 
 Dated as of December 18, 2009 
 Among 
 MONONGAHELA POWER COMPANY, 
 as Borrower, 
 and 
 THE INITIAL LENDERS AND INITIAL ISSUING BANKS NAMED HEREIN, 
 as
Initial Lenders and Initial Issuing Banks, 
 and 
 THE BANK OF NOVA SCOTIA, 
 as Administrative Agent 
  
  
  

							
		  	 THE BANK OF NOVA
 SCOTIA,
 Joint Lead Arranger and
 Joint Book Runner
	  	 UNION BANK, N.A.,
 Joint Lead Arranger, Joint Book
 Runner and Syndication Agent
	  	

 T A B L E    O F    C O N T E N T S

  

					
	 Section
	    	 	  	Page
	ARTICLE I
	
	DEFINITIONS AND ACCOUNTING TERMS
		
	SECTION 1.01. Definitions	  	1
	SECTION 1.02. Principles of Interpretation	  	29
	SECTION 1.03. Letter of Credit	  	30
	
	ARTICLE II
	
	 AMOUNTS AND TERMS OF THE ADVANCES
 AND LETTERS OF CREDIT

		
	SECTION 2.01. The Advances	  	31
	(a)	    	Optional	  	31
	(b)	    	Letters of Credit	  	31
	(c)	    	Letters of Credit Generally	  	32
	SECTION 2.02. Making the Advances	  	33
	 SECTION 2.03. Issuance of Letters of Credit; Drawings and Reimbursements;
       Auto-Extension Letters of Credit; Funding of Participations
	  	34
	(a)	    	Optional	  	34
	(b)	    	Drawings and Reimbursements; Funding of Participations	  	36
	(c)	    	Repayment of Participations	  	37
	(d)	    	Role of Issuing Bank	  	37
	(e)	    	Cash Collateral	  	38
	(f)	    	Applicability of ISP and UCP	  	39
	(g)	    	Conflict with Issuer Documents	  	39
	(h)	    	Letters of Credit Issued for Subsidiaries	  	39
	(i)	    	Letter of Credit Reports	  	39
	(j)	    	Obligations Absolute	  	39
	(k)	    	Liability	  	40
	SECTION 2.04. Repayment of Advances	  	41
	SECTION 2.05. Termination or Reduction of the Commitments	  	41
	(a)	    	Optional	  	41
	(b)	    	Termination	  	41
	(c)	    	Termination of Defaulting Lender Commitment	  	41
	SECTION 2.06. Prepayments	  	41
	(a)	    	Optional	  	41
	(b)	    	Other Amounts	  	42
	SECTION 2.07. Interest	  	42
	(a)	    	Optional	  	42
	(b)	    	Default Interest	  	42
	(c)	    	Notice of Interest Period and Interest Rate	  	42

  

 Monongahela Power Company Credit Agreement 

					
	SECTION 2.08. Fees	  	43
	(a)	    	Optional	  	43
	(b)	    	Letter of Credit Fees	  	43
	(c)	    	Fronting Fee and Documentary and Processing Charges Payable to Issuing Banks, Etc.	  	43
	(d)	    	The Administrative Agent’s Fees	  	43
	SECTION 2.09. Payments Generally; Pro Rata Treatment	  	43
	SECTION 2.10. Illegality	  	46
	SECTION 2.11. Interest Elections	  	46
	(a)	    	Optional	  	46
	(b)	    	Mandatory	  	47
	SECTION 2.12. Increased Costs, Etc.	  	48
	SECTION 2.13. Taxes	  	49
	SECTION 2.14. Evidence of Debt	  	52
	SECTION 2.15. Use of Proceeds	  	52
	SECTION 2.16. Request for Commitments	  	53
	
	ARTICLE III
	
	CONDITIONS OF EFFECTIVENESS
		
	SECTION 3.01. Conditions Precedent to Closing Date	  	54
	SECTION 3.02. Conditions Precedent to Each Borrowing and L/C Credit Extension	  	56
	SECTION 3.03. Determinations Under Sections 3.01 and 3.02	  	56
	
	ARTICLE IV
	
	REPRESENTATIONS AND WARRANTIES
		
	SECTION 4.01. Representations and Warranties	  	57
	
	ARTICLE V
	
	COVENANTS
		
	SECTION 5.01. Affirmative Covenants	  	60
	(a)	    	Compliance with Laws	  	60
	(b)	    	Compliance with Environmental Laws	  	61
	(c)	    	Payment of Taxes, Etc.	  	61
	(d)	    	Insurance	  	61
	(e)	    	Preservation of Corporate Existence, Etc.	  	61
	(f)	    	Visitation Rights	  	61
	(g)	    	Keeping of Books	  	61
	(h)	    	Maintenance of Properties, Etc	  	61
	(i)	    	Transactions with Affiliates	  	62
	SECTION 5.02. Negative Covenants	  	62
	(a)	    	Liens, Etc.	  	62

  

 (ii) 
 Monongahela Power Company Credit Agreement 

					
	(b)	    	Mergers, Etc.	  	65
	(c)	    	Sales, Etc., of Assets	  	66
	(d)	    	Investments in Other Persons	  	67
	(e)	    	Payment Restrictions Affecting the Borrower’s Subsidiaries	  	67
	(f)	    	Hedge Agreements	  	68
	SECTION 5.03. Financial Covenant	  	68
	SECTION 5.04. Reporting Covenants	  	68
	(a)	    	Default Notices	  	68
	(b)	    	Annual Financials	  	68
	(c)	    	Quarterly Financials	  	69
	(d)	    	Additional Material Subsidiaries	  	69
	(e)	    	Other Information	  	69
	
	ARTICLE VI
	
	EVENTS OF DEFAULT
		
	SECTION 6.01. Events of Default	  	70
	SECTION 6.02. Actions in Respect of Letters of Credit upon Default	  	72
	
	ARTICLE VII
	
	THE ADMINISTRATIVE AGENT
		
	SECTION 7.01. Authorization and Action	  	72
	SECTION 7.02. Reliance, Etc.	  	73
	SECTION 7.03. Scotia Capital, Union Bank and Affiliates	  	73
	SECTION 7.04. Lender Party Credit Decision	  	74
	SECTION 7.05. Indemnification	  	74
	SECTION 7.06. Successor Administrative Agent	  	75
	SECTION 7.07. Liability	  	75
	SECTION 7.08. Compensation of the Administrative Agent	  	76
	SECTION 7.09. Exculpatory Provisions	  	76
	SECTION 7.10. Treatment of Lenders	  	76
	SECTION 7.11. Miscellaneous	  	76
	(a)	    	Instructions	  	76
	(b)	    	No Obligation	  	77
	SECTION 7.12. Arranger Parties	  	77
	
	 ARTICLE VIII
  
 MISCELLANEOUS

		
	SECTION 8.01. Amendments, Etc.	  	77
	(a)	    	Amendments	  	77
	(b)	    	Other Financing Documents	  	78
	SECTION 8.02. Notices, Etc.	  	78

  

 (iii) 
 Monongahela Power Company Credit Agreement 

			
	SECTION 8.03. No Waiver, Remedies	  	80
	SECTION 8.04. Indemnity and Expenses	  	80
	SECTION 8.05. Right of Set-off	  	82
	SECTION 8.06. Binding Effect	  	82
	SECTION 8.07. Assignments and Participations	  	82
	SECTION 8.08. Execution in Counterparts	  	86
	SECTION 8.09. Jurisdiction, Etc.	  	86
	SECTION 8.10. Governing Law	  	87
	SECTION 8.11. Waiver of Jury Trial	  	87
	SECTION 8.12. Confidentiality	  	87
	SECTION 8.13. Benefits of Agreement	  	89
	SECTION 8.14. Severability	  	89
	SECTION 8.15. Limitations	  	89
	SECTION 8.16. Survival	  	89
	SECTION 8.17. USA Patriot Act Notice	  	90
	SECTION 8.18. No Fiduciary Duty	  	90

  

 (iv) 
 Monongahela Power Company Credit Agreement 

 SCHEDULES 
  

					
	Schedule I	  	-	  	Commitments, Pro Rata Shares and Applicable Lending Offices
			
	Schedule 3.01(a)	  	-	  	Jurisdictions
	Schedule 4.01(c)	  	-	  	Governmental Approvals and Filings
	Schedule 4.01(e)	  	-	  	Disclosed Litigation
	Schedule 4.01(f)	  	-	  	Disclosed Information
	Schedule 4.01(j)	  	-	  	Certain Environmental Matters
	Schedule 5.01(i)	  	-	  	Affiliate Transactions
	Schedule 5.02(a)	  	-	  	Liens

  

					
	EXHIBITS	  		  	
			
	Exhibit A	  	-	  	Form of Note
	Exhibit B	  	-	  	Form of Notice of Borrowing
	Exhibit C	  	-	  	Form of Assignment and Acceptance

  

 (v) 
 Monongahela Power Company Credit Agreement 

 CREDIT AGREEMENT 
 CREDIT AGREEMENT dated as of December 18, 2009 (as amended, modified or otherwise supplemented from time to time in accordance with its
terms, this “Agreement”), among MONONGAHELA POWER COMPANY, an Ohio Corporation (the “Borrower”), the banks, financial institutions and other institutional lenders listed on the signature pages hereof
as the Initial Lenders (the “Initial Lenders”), THE BANK OF NOVA SCOTIA (“Scotia Capital”) and UNION BANK, N.A. (“Union Bank”), as the initial issuing banks for the letters of
credit issued or to be issued pursuant to this Agreement (each, in such capacity, an “Initial Issuing Bank” and, together with the Initial Lenders, the “Initial Lender Parties”), and THE BANK OF NOVA
SCOTIA, as administrative agent (together with any successor administrative agent appointed pursuant to Article VII, the “Administrative Agent”) for the Lender Parties (as hereinafter defined). 
 PRELIMINARY STATEMENTS 
 The Borrower has requested that the Initial Lender Parties establish a senior unsecured revolving credit facility in the aggregate amount of $110,000,000 in favor of the Borrower. The Initial Lender Parties have indicated their willingness
to provide such financing to the Borrower on the terms and conditions of this Agreement and the other Financing Documents. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements contained herein, the parties hereto hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS AND ACCOUNTING TERMS 
 SECTION 1.01. Definitions. As used in this Agreement, unless otherwise indicated the following terms shall have the following
meanings: 
 “1940 Act” means the Investment Company Act of 1940, as amended. 

“Act” has the meaning specified in Section 8.17. 
 “Administrative Agent” has the meaning specified in the recital of parties to this Agreement.

 “Administrative Agent’s Account” means the account of the Administrative Agent
maintained by the Administrative Agent with Scotia Capital, at its office at One Liberty Plaza, New York, New York 10006 (Fed Funds ABA No. 026-002532; SWIFT CODE NOSCUS33), Account No. 2308363CORBK77; Attn: Karen Lam, Loan Operations;
Reference: Monongahela Power Company, or such other account as the Administrative Agent shall specify in writing to the Lender Parties and the Borrower. 
 “Advance” has the meaning specified in Section 2.01(a). 
  

 Monongahela Power Company Credit Agreement 

 “AE Supply” means Allegheny Energy Supply Company,
LLC, a Delaware limited liability company. 
 “Affiliate” means, as to any Person, any
other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person or is a director or officer of such Person. For purposes of this definition, the term “control” (including the terms
“controlling”, “controlled by” and “under common control with”) of a Person means the possession, direct or indirect, of the power to vote 10% or more of the Voting Interests of such Person or to
direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Interests, by contract or otherwise. 
 “AGC” means Allegheny Generating Company, a Virginia corporation. 
 “Agent Parties” has the meaning set forth in Section 8.02(d). 
 “Agreement” has the meaning set forth in the recital of the parties to this agreement. 
 “Agreement Value” means, for each Hedge Agreement, on any date of determination, an amount determined by the Borrower in good faith equal to: (a) in the case of a Hedge
Agreement documented pursuant to the Master Agreement (as defined in the definition of a “Hedge Agreement”), the amount, if any, that would be payable by the Borrower or any of its Subsidiaries to its counterparty to such Hedge
Agreement pursuant to the terms of such Hedge Agreement, as if (i) such Hedge Agreement was being terminated early on such date of determination, (ii) the Borrower or such Subsidiary was the sole “Affected Party”, and
(iii) the Borrower or such Subsidiary was the sole party determining such payment amount (with the Borrower making such determination pursuant to the provisions of the Master Agreement or the Hedge Agreement (whichever is applicable)); or
(b) in the case of a Hedge Agreement traded on an exchange, the mark-to-market value of such Hedge Agreement, which will be the unrealized loss on such Hedge Agreement (after any netting permitted pursuant to the terms of such Hedge Agreement
(including any netting across different Hedge Agreements and Master Agreements to the extent permitted by contract)) to the Borrower or any of its Subsidiaries party to such Hedge Agreement, if any, determined by the Borrower in good faith based on
the settlement price of such Hedge Agreement on such date of determination; or (c) in all other cases, the mark-to-market value of such Hedge Agreement, which will be the unrealized loss on such Hedge Agreement (after any netting permitted
pursuant to the terms of such Hedge Agreement (including any netting across different Hedge Agreements and Master Agreements to the extent permitted by contract)) to the Borrower or any of its Subsidiaries party to such Hedge Agreement, if any, as
determined by the Borrower in good faith in accordance with the terms of such Hedge Agreement or, if such Hedge Agreement does not provide a methodology for such determination, the amount, if any, by which (i) the present value of the future
cash flows to be paid by the Borrower or any of its Subsidiaries party thereto, as the case may be, exceeds (ii) the present value of the future cash flows to be received by the Borrower or such Subsidiary, as the case may be, pursuant to such
Hedge Agreement; capitalized terms used and not otherwise defined in this definition shall have the respective meanings set forth in the above described Master Agreement. 
  

 - 2 - 
 Monongahela Power Company Credit Agreement 

 “Allegheny Money Pool” means the internal money pool
established by the Parent for the short term investment of funds of the Parent and certain of its Subsidiaries and Affiliates as approved by the FERC through delegated letter order dated May 30, 2008, in Allegheny Energy, Inc., 123 FERC ¶
62,183 (2008), which may from time to time be amended, renewed, extended, or replaced. 
 “Amendment
Fee” means any fee offered, paid or payable to any Lender Party by the Borrower or any Affiliate of the Borrower (whether directly or through the Administrative Agent or any other Person) in consideration for any waiver of, or agreement
to amend or modify any provision of, any of the Financing Documents. 
 “Applicable Law”
means, with respect to any Person, any and all laws, statutes, regulations or rules, or orders, injunctions, decrees, judgments, writs, determinations or awards having the force or effect of binding such Person at law issued by any Governmental
Authority, applicable to such Person, including all Environmental Laws. 
 “Applicable Lending
Office” means, with respect to each Lender Party, such Lender Party’s Domestic Lending Office in the case of a Base Rate Advance and such Lender Party’s Eurodollar Lending Office in the case of a Eurodollar Rate Advance.

 “Applicable Margin” means, as of any date, a percentage per annum determined by
reference to the Public Debt Rating in effect on such date as set forth below: 
  

							
	 Public Debt Rating
 S&P/Moody’s
	  	Applicable
Margin for
Base
Rate
Advances	 	 	Applicable
Margin for
Eurodollar Rate
Advances	 
	 Level 1
     BBB+ / Baa1 or above
	  	1.75	% 	 	2.75	% 
	 Level 2
     BBB / Baa2
	  	2.00	% 	 	3.00	% 
	 Level 3
     BBB- / Baa3
	  	2.25	% 	 	3.25	% 
	 Level 4
     BB+ / Ba1 or lower
	  	2.75	% 	 	3.75	% 

 “Approved Fund” means a Fund that is
administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) a Person or an Affiliate of a Person that administers or manages a Lender. 
 “Arranger Parties” means Scotia Capital, as Joint Lead Arranger and Joint Book Runner, and Union
Bank, as Joint Lead Arranger, Joint Book Runner and Syndication Agent. 
  

 - 3 - 
 Monongahela Power Company Credit Agreement 

 “Assets” means, with respect to any Person, all or
any part of its business, real or personal property, rights, interests and assets, both tangible and intangible (including Equity Interests in any other Person), wherever situated. 
 “Assignment and Acceptance” means an assignment and acceptance entered into by a Lender Party and an
Eligible Assignee, and accepted by the Administrative Agent, in accordance with Section 8.07 and in substantially the form of Exhibit C. 
 “Authorized Signatory” means, with respect to any Person, the individual, or any of the individuals, authorized to sign any Financing Document, as well as any other agreements, to
which such Person is or is to be a party and give written instructions on behalf of such Person with regard to any matters pertaining to any Financing Document to which such Person is or is to be a party (as identified on an incumbency certificate
submitted to the Administrative Agent from time to time prior to the receipt of any instructions from such Authorized Signatory). 
 “Auto-Extension Letter of Credit” has the meaning specified in Section 2.03(a)(iii). 
 “Base Rate” means for any day a fluctuating interest rate per annum equal to the highest of:

 (a) the rate of interest in effect for such day as publicly announced from time to time by Scotia Capital as
its “prime rate.” The “prime rate” is a rate set by Scotia Capital based upon various factors including Scotia Capital’s costs and desired return, general economic conditions and other factors, and is used as a reference
point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Scotia Capital shall take effect at the opening of business on the day specified in the public announcement of such
change; 
 (b) the Federal Funds Rate plus 0.50% per annum; and 
 (c) the Eurodollar Rate plus 1.00%. 
 “Base Rate Advance” means an Advance that bears interest as provided in
Section 2.07(a)(i). 
 “Borrower” has the meaning specified in the recital of
parties to this Agreement. 
 “Borrowing” means a borrowing consisting of simultaneous
Advances of the same Type, made by the Lenders. 
 “Borrowing Account” means such account
as the Borrower shall specify in writing to the Administrative Agent from time to time. 
 “Business
Day” means a day of the year on which banks are not required or not authorized by law to close in New York, New York and, if the applicable Business Day relates to any Eurodollar Rate Advances, on which dealings are carried on in
the London interbank market. 
  

 - 4 - 
 Monongahela Power Company Credit Agreement 

 “Capitalized Leases” means all leases that have been
or should be, in accordance with GAAP, recorded as capitalized leases. 
 “Cash Collateral
Account” means a non-interest bearing securities account opened, or to be opened, by the Administrative Agent and in which a Lien has been granted to the Administrative Agent for the benefit of each Lender and each Issuing Bank pursuant
to documentation in form and substance reasonably satisfactory to the Administrative Agent and each Issuing Bank (which documents are hereby consented to by the Lenders) to the extent that any Letter of Credit is required to be Cash Collateralized
in accordance with this Agreement. 
 “Cash Collateralize” means to pledge and deposit
with or deliver to the Administrative Agent, for the benefit of each Issuing Bank and each Lender, as collateral for the L/C Obligations, cash or deposit account balances, and “Cash Collateral” shall refer to such cash or
deposit account balances. 
 “Cash Equivalents” means any of the following, to the extent
owned by the Borrower or any of its Subsidiaries free and clear of all Liens (other than, Liens permitted under the Financing Documents) and, except in the case of clause (d) below, having a maturity of not greater than one year from the date
of issuance thereof: (a) readily marketable direct obligations of the government of the United States or any agency or instrumentality thereof or obligations unconditionally guaranteed by the full faith and credit of the government of the
United States, (b) certificates of deposit, time deposits, eurodollar deposits and bankers’ acceptances with any commercial bank that is the Administrative Agent or a Lender Party or a member of the Federal Reserve System, is organized
under the laws of the United States or any State thereof and has combined capital and surplus of at least $500,000,000; provided that the aggregate principal amount of certificates of deposit, time deposits, eurodollar time deposits and
bankers acceptances of any one bank shall not exceed $50,000,000 at any one time, (c) commercial paper in an aggregate amount of no more than $50,000,000 per issuer outstanding at any time, issued by any corporation organized under the laws of
any State of the United States and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P, and (d) investments in mutual funds the sole investments of which
are the cash equivalents identified in clauses (a) through (c) above (but with a remaining maturity of not greater than 13 months while being held by the applicable mutual fund) and repurchase obligations for any of the cash equivalents
identified in clause (a) above. 
 “CERCLA” means the Comprehensive Environmental
Response, Compensation, and Liability Act of 1980, as amended from time to time. 
 “CERCLIS” means the Comprehensive Environmental Response, Compensation, and Liability Information System maintained by the U.S. Environmental Protection Agency. 
  

 - 5 - 
 Monongahela Power Company Credit Agreement 

 “Change of Control” means the occurrence of any of
the following: (a) the Parent shall cease to own all issued and outstanding Equity Interests in the Borrower; (b) any Person or two or more Persons acting in concert shall have acquired beneficial ownership (within the meaning of
Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended), directly or indirectly, of Voting Interests of the Parent (or other securities convertible into such Voting Interests) representing 40%
or more of the combined voting power of all Voting Interests of the Parent; (c) during any period of up to 24 consecutive months, commencing before or after the date of this Agreement, individuals who at the beginning of such 24-month period
were directors of the Parent (the “Original Directors”) shall cease for any reason to constitute a majority of the board of directors of the Parent (unless replaced by individuals nominated or proposed by the Original
Directors); or (d) any Person or two or more Persons acting in concert shall have acquired by contract or otherwise, or shall have entered into a contract or arrangement that, upon consummation, will result in its or their acquisition of the
power to exercise, directly or indirectly, a controlling influence over the management or policies of the Parent. 
 “Closing Date” has the meaning specified in Section 3.01. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and rulings issued thereunder. 
 “Commitment” means, as to each Lender, its obligation to: (a) make Advances pursuant to
Section 2.01(a); and (b) purchase participations in L/C Obligations pursuant to Section 2.01(b), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s
name on Schedule I under the caption “Commitment” or in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with
this Agreement. 
 “Commitment Effective Date” has the meaning specified in
Section 2.16(b). 
 “Commitment Fee Rate” means, as of any date, a percentage
per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: 
  

				
	 Public Debt Rating
 S&P/Moody’s
	  	Commitment Fee Rate	 
	 Level 1
     BBB+ / Baa1 or above
	  	0.375	% 
	 Level 2
     BBB / Baa2
	  	0.500	% 
	 Level 3
     BBB- / Baa3
	  	0.625	% 
	 Level 4
     BB+ / Ba1 or lower
	  	0.750	% 

  

 - 6 - 
 Monongahela Power Company Credit Agreement 

 “Commodity Hedge Agreement” means (a) any swap,
cap, collar, floor, future, option, spot, forward or derivative, in respect of one or more commodities, any physical or financial commodity contract or agreement, power purchase agreement, power sale agreement, electric power generation capacity
purchase and sale agreement, Emissions Credit purchase and sale agreement, fuel purchase agreement, fuel sale agreement, power transmission agreement, regional transmission organization agreement, fuel or other commodity transportation agreement,
fuel storage agreement, netting agreement, capacity agreement or similar agreement (including each confirmation entered into pursuant to any master agreement, in each case, entered into for non-speculative purposes providing for any of the
foregoing), (b) any combination of these transactions and (c) any other commodity hedge agreement entered into for non-speculative purposes by the Borrower or its Subsidiaries, in each case with respect to, or involving, the purchase,
sale, exchange, transmission, distribution or hedge of any commodity, price or price indices for any such commodity or services or any other similar derivative agreements, entered into in order to manage fluctuations in the price or availability to
the Borrower or any of its Subsidiaries of any commodity including, without limitation, Emissions Credits and energy attributes. For purposes of this definition “commodity” means any tangible or intangible energy-related commodity of any
type or description, including, without limitation, energy, electric power, electric power capacity, generation capacity, power, heat rate, congestion, diesel fuel, fuel oil, other petroleum-based liquids, coal, urea, financial transmission rights,
Emissions Credits, natural gas, nuclear fuel and waste products or by-products thereof. 
 “Communications” has the meaning specified in Section 8.02(b). 
 “Confidential Information” has the meaning specified in Section 8.12(a). 
 “Consolidated” refers to the consolidation of accounts in accordance with GAAP. 
 “Consolidated Debt” means, at any time, without duplication, the sum of (a) Debt for Borrowed Money of the Borrower and its Consolidated Subsidiaries, determined as of such time, plus (b) Debt of the
type specified in clause (g) of the definition of Debt but excluding (i) Hybrid Securities of the Borrower and its Consolidated Subsidiaries, (ii) Permitted Securitizations, (iii) Non-Recourse Debt and (iv) letters of credit
issued to support obligations related to Commodity Hedge Agreements or as credit support for leases other than Capitalized Leases, and provided that guaranties of Debt included in the total principal amount of Consolidated Debt shall not be added to
such total principal amount. 
 “Consolidated Net Tangible Assets” means, as of any date
of determination, an amount equal to (a) Consolidated total Assets of the Borrower and its Subsidiaries, minus (b) all Assets of the Borrower and its Subsidiaries on that date that are considered to be intangible assets under GAAP,
including goodwill. 
 “Constituent Documents” means, with respect to any Person,
(a) the articles or certificate of incorporation, charter or other similar organizational document of such Person, (b) the by-laws or other similar document of such Person, (c) any certificate of designation or instrument relating to
the rights of holders (including preferred shareholders) of Equity Interests in such Person and (d) any shareholder rights agreement or other similar agreement. 
  

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 Monongahela Power Company Credit Agreement 

 “Contest” means, with respect to the payment of
Taxes or any other claims or liabilities by any Person, to contest the validity or amount thereof in good faith by appropriate proceedings timely instituted and diligently pursued within the applicable statutory period and in accordance with
Applicable Law; provided that the following conditions are satisfied: (a) such Person has posted a bond or other security in accordance with Applicable Law (if required) or has established adequate reserves with respect to the contested
items in accordance with, and to the extent required by, GAAP; (b) during the period of such contest, the enforcement of any contested item is effectively stayed; (c) neither such Person nor any of its officers, directors or employees nor
any Lender Party or any of its respective officers, directors or employees is, or could reasonably be expected to become, subject to any criminal liability or sanction in connection with such contested items; and (d) no Lien relating to such
contest attaches to any Assets of such Person and becomes enforceable against other creditors of such Person. 
 “Contingent Obligation” means, with respect to any Person, any Obligation or arrangement of such Person to guarantee or intended to guarantee any Debt, leases, dividends or other payment Obligations
(“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including (a) the direct or indirect guarantee, endorsement (other than for
collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of the Obligation of a primary obligor, (b) the Obligation to make take-or-pay or similar payments, if
required, regardless of nonperformance by any other party or parties to an agreement or (c) any Obligation of such Person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or
indirect security therefor, (ii) to advance or supply funds (A) for the purchase or payment of any such primary obligation or (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net
worth or solvency of the primary obligor, (iii) to purchase Assets, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary
obligation or (iv) otherwise to assure or hold harmless the holder of such primary obligation against loss in respect thereof. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determinable amount of
the primary obligation in respect of which such Contingent Obligation is made (or, if less, the maximum amount of such primary obligation for which such Person may be liable pursuant to the terms of the instrument evidencing such Contingent
Obligation) or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder), as determined by such Person in good faith. 
 “Continuation”, “Continue” and “Continued” each refer
to a continuation of Eurodollar Rate Advances upon the expiration of the Interest Period therefor as Eurodollar Rate Advances of the same or a different Interest Period pursuant to Section 2.11. 
  

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 Monongahela Power Company Credit Agreement 

 “Conversion”, “Convert” and
“Converted” each refer to a conversion of Advances of one Type into Advances of the other Type pursuant to Section 2.11 or 2.12. 
 “Covered Taxes” has the meaning specified in Section 2.13(a). 
 “Debt” of any Person (the “obligor”) means, without duplication, (a) all
Obligations of such obligor for or in respect of moneys borrowed or raised (whether or not for cash) by whatever means (including acceptances, deposits, discounting, letters of credit, factoring (other than on a non-recourse basis), and any other
form of financing that is recognized in accordance with GAAP in the obligor’s financial statements as being in the nature of a borrowing or is treated as “off-balance” sheet financing; (b) all Obligations of the obligor
evidenced by notes, bonds, debentures or other similar instruments issued in connection with accounts payable excluded pursuant to the parenthetical in clause (c) below; (c) all Obligations of the obligor for the deferred purchase price of
property or services (other than accounts (i) payable within 90 days of being incurred arising in the ordinary course of such obligor’s business and not more than 90 days past due, or (ii) subject to a Contest); (d) all
Obligations of such obligor under conditional sale or other title retention agreements relating to Assets acquired by such obligor (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited
to repossession or sale of such property); (e) all Obligations of such obligor under any securitization or monetization arrangement; (f) all Obligations of such obligor as lessee under Capitalized Leases; (g) all Obligations of the
obligor, contingent or otherwise, of the obligor under acceptance, letter of credit or similar facilities other than as issued (i) in connection with Obligations excluded pursuant to clause (b) above or the parenthetical in clause
(c) above or (ii) as credit support for leases other than Capitalized Leases; (h) all Obligations of the obligor to purchase, redeem, retire, defease or otherwise make any payments in respect of any Equity Interests in the obligor or
any other Person or any warrants, rights or options to acquire such capital stock, valued, in the case of Redeemable Preferred Interests, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends;
(i) all Obligations of the obligor in respect of Hedge Agreements; (j) all Contingent Obligations of the obligor with respect to Debt; and (k) all indebtedness and other payment Obligations referred to in clauses (a) through
(j) above of another Person secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights owned by the obligor), even though the
obligor has not assumed or become liable for the payment of such indebtedness or other payment Obligations. 
 “Debt for Borrowed Money” means Debt of the types specified in (i) clauses (a), (b), (d), (e) and (f) of the definition of “Debt” and (ii) to the extent relating to Debt of the types
specified in one or more of clauses (a), (b), (d), (e) and (f) of the definition of “Debt”, clauses (j) and (k) thereof. 
  

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 Monongahela Power Company Credit Agreement 

 “Default” means any Event of Default or any event
that would constitute an Event of Default but for the requirement that notice be given or time elapse or both. 
 “Defaulting Lender” means, at any time, any Lender that, at such time, (a) has failed to fund any portion of its Advances within five Business Days of the date required to be funded by it hereunder (and such
failure is continuing) or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or generally under other agreements in which it commits to extend credit, in each case, unless
such failure is the subject of a good faith dispute and such Lender has promptly notified the Borrower of the nature thereof in reasonable detail, (b) has failed to pay any amount (other than a de minimis amount) required to be paid by
such Lender to the Administrative Agent, any Issuing Bank or any other Lender hereunder or under any other Financing Document within five Business Days of the date when due (and such failure is continuing), unless such failure is the subject of a
good faith dispute and such Lender has promptly notified the Administrative Agent of the nature thereof in reasonable detail or (c) shall (or its direct or indirect parent shall) take any action or become the subject of any action or proceeding
of a type described in the definition of Insolvency Proceeding; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in such Lender or its direct or indirect parent by
a Governmental Authority or an instrumentality thereof. 
 “Disclosed Litigation” has the
meaning specified in Section 4.01(e). 
 “Disclosed Matters” means the
occurrence of any event in respect of, or effect upon, the business, condition (financial or otherwise), operations, performance, properties, assets, liabilities (actual or contingent), results of operations or prospects of the Borrower or the
Borrower and its Subsidiaries, taken as a whole, which has been disclosed (a) pursuant to a public filing by the Parent with the SEC or (b) in writing to the Administrative Agent. 
 “Dollars” and “$” mean the lawful currency of the United States of America.

 “Domestic Lending Office” means, with respect to any Lender Party, the office of such
Lender Party specified as its “Domestic Lending Office” opposite its name on Schedule I or in the Assignment and Acceptance pursuant to which it became a Lender Party, as the case may be, or such other office of such
Lender Party as such Lender Party may from time to time specify to the Borrower and the Administrative Agent. 
 “Eligible Assignee” means (a) with respect to any Lender, (i) any other Lender; (ii) an Affiliate of a Lender; (iii) an Approved Fund; (iv) a commercial bank organized under the laws of the
United States, or any State thereof, and having a combined capital and surplus of at least $500,000,000; (v) a savings and loan association or savings bank organized under the laws of the United States, or any State thereof, and having a
combined capital and surplus of at least $500,000,000; (vi) a commercial bank organized under the laws of any other country that is a member of the OECD or has concluded special lending arrangements with the International Monetary Fund
associated with its General Arrangements to Borrow or a political subdivision of any such country, and

  

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 Monongahela Power Company Credit Agreement 

 
having a combined capital and surplus of at least $500,000,000, so long as such bank is acting through a branch or agency located in the country in which it is organized or another country that
is described in this clause (vi); (vii) the central bank of any country that is a member of the OECD; (viii) a finance company, insurance company or other financial institution or fund (whether a corporation, partnership, trust or other
entity) that is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business and having a combined capital and surplus of at least $500,000,000; (ix) any other Person approved by the Issuing
Banks (each acting in its sole discretion) and the Administrative Agent (such consent not to be unreasonably withheld or delayed) and, so long as no Specified Default shall have occurred and be continuing, the Borrower (such approval not to be
unreasonably withheld or delayed), and (b) with respect to any Issuing Bank, a Person that is an Eligible Assignee under subclause (iv) or (vi) (so long as such bank is acting through a branch or agency located in the United States)
of clause (a) of this definition and is approved by the Administrative Agent and, so long as no Specified Default shall have occurred and be continuing, the Borrower, such approval, not to be unreasonably withheld or delayed; provided
that neither the Borrower nor any Affiliate of the Borrower shall qualify as an Eligible Assignee under this definition; and provided further that, for the avoidance of doubt, notwithstanding whether any Person constitutes an
“Eligible Assignee”, the consent of the Issuing Bank(s) under Section 8.07(a) shall be required with respect to any assignment by any Lender. 
 “Emissions Credits” means the emissions limitations which: (a) are issued by environmental
Governmental Authorities; (b) authorize the emission of a fixed amount of pollutants; and (c) are utilized as a market-based mechanism for reducing pollution. 
 “Environmental Action” means any action, suit, demand letter, claim by any Governmental Authority,
notice of non-compliance or violation, notice of liability or potential liability, investigation, proceeding, consent order or consent agreement relating to any Environmental Law, Environmental Permit or Hazardous Material or arising from alleged
injury or threat to health and safety or the environment relating to any Environmental Law, including (a) by any governmental or regulatory authority for enforcement, cleanup, removal, response, remedial or other actions or damages and
(b) by any governmental or regulatory authority or third party for damages, contribution, indemnification, cost recovery, compensation or injunctive relief. 
 “Environmental Law” means any Federal, state, local or foreign statute, law, ordinance, rule,
regulation, code, order, writ, judgment, injunction, decree or legally binding judicial or agency interpretation, policy or guidance relating to pollution or protection of the environment, health and safety as it relates to Hazardous Materials or
natural resources, including those relating to the use, handling, transportation, treatment, storage, disposal, release or discharge of Hazardous Materials. 
 “Environmental Permit” means any permit, approval, identification number, license or other
authorization required under any Environmental Law. 
  

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 Monongahela Power Company Credit Agreement 

 “Equity Interests” means, with respect to any
Person, shares of capital stock of (or other ownership or profit interests in) such Person, warrants, options or other rights for the purchase or other acquisition from such Person of shares of capital stock of (or other ownership or profit
interests in) such Person, non-Debt securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person, warrants, rights or options for the purchase or other acquisition from such
Person of such shares (or such other interests), and other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options,
rights or other interests are authorized or otherwise existing on any date of determination. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any Person that for purposes of Title IV of ERISA is a member of the
controlled group of the Borrower or any of its Subsidiaries, or under common control, within the meaning of Section 414 of the Code, with the Borrower or any of its Subsidiaries. 
 “ERISA Event” means (a) (i) the occurrence of a reportable event, within the meaning of
Section 4043(c) of ERISA, with respect to any Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC or (ii) the requirements of Section 4043(b) of ERISA apply with respect to a contributing
sponsor, as defined in Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within the
following 30 days; (b) the application for a minimum funding waiver in accordance with Section 412(d) of the Code with respect to a Plan; (c) the provision by the administrator of any Plan of a notice of intent to terminate such Plan,
pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA); (d) the cessation of operations at a facility of the Borrower or any of its Subsidiaries or
any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by the Borrower or any of its Subsidiaries or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it was a
substantial employer, as defined in Section 4001(a)(2) of ERISA; (f) a lien has been imposed under Section 302(f) of ERISA with respect to any Plan; (g) the adoption of an amendment to a Plan requiring the provision of security
to such Plan pursuant to Section 307 of ERISA; or (h) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of
ERISA that constitutes grounds for the termination of, or the appointment of a trustee to administer, such Plan, provided, however, that the occurrence of the event or condition described in Section 4042(a)(4) of ERISA shall be an ERISA
Event only if the PBGC has notified the Borrower, any Subsidiary of the Borrower or any ERISA Affiliate that it intends to institute proceedings to terminate a Plan pursuant to such Section. 
  

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 Monongahela Power Company Credit Agreement 

 “Eurocurrency Liabilities” has the meaning specified
in Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time. 
 “Eurodollar Lending Office” means, with respect to any Lender Party, the office of such Lender Party specified as its “Eurodollar Lending Office” opposite its name on Schedule I or in the
Assignment and Acceptance pursuant to which it became a Lender Party (or, if no such office is specified, its Domestic Lending Office), or such other office of such Lender Party as such Lender Party may from time to time specify to the Borrower and
the Administrative Agent. 
 “Eurodollar Rate” means, 
 (a) with respect to any Interest Period for all Eurodollar Rate Advances comprising part of the same Borrowing, the rate
per annum obtained by dividing (a) LIBOR for such Interest Period by (b) a percentage equal to 1.00 minus the Eurodollar Rate Reserve Percentage; and 
 (b) for purposes of determining the “Base Rate” only, the rate per annum equal to (i) the rate of interest per
annum that appears on the Reuters LIBOR01 Page as published by Reuters at approximately 11:00 a.m., London, England time, two Business Days prior to the date of determination (provided that if such day is not a Business Day, the next preceding
Business Day) for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (ii) if such rate is not available at such time for any reason, the rate of interest per annum quoted by the
Administrative Agent to leading banks in the London interbank market at approximately 11:00 a.m. (London, England time) two Business Days prior to the date of determination as the rate at which the Administrative Agent is offering Dollar deposits in
the approximate amount of the Base Rate Advance being made, continued or converted with a term of one month commencing on such date of determination. 
 “Eurodollar Rate Advance” means an Advance that bears interest as provided in Section 2.07(a)(ii). 
 “Eurodollar Rate Reserve Percentage” for any Interest Period for all Eurodollar Rate Advances
comprising part of the same Borrowing means the reserve percentage applicable two Business Days before the first day of such Interest Period under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any
successor) for determining the maximum reserve requirement (including any emergency, supplemental or other marginal reserve requirement) for a member bank of the Federal Reserve System in New York City with respect to liabilities or assets
consisting of or including Eurocurrency Liabilities (or with respect to any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Rate Advances is determined) having a term equal to such Interest
Period. 
 “Event of Default” has the meaning specified in Section 6.01.

 “Facility” means, at any time, the aggregate of the Commitments at such time.

  

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 Monongahela Power Company Credit Agreement 

 “Federal Funds Rate” means, for any period, a
fluctuating interest rate per annum equal for each day during such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published
for such day (or, if such day is not a Business Day, for the immediately preceding Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for
such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. 
 “Fee Letter” means the fee letter, among the Borrower, Scotia Capital and Union Bank. 
 “FERC” means the Federal Energy Regulatory Commission. 
 “Final Maturity Date” means the earlier of (a) the date of termination in whole of the Commitments and the L/C Obligations pursuant to Section 2.05 or 6.01,
and (b) the third anniversary of the date hereof. 
 “Financing Documents” means
this Agreement, the Notes, the Fee Letter and the Issuer Documents. 
 “First Mortgage Bond
Indenture” means the Indenture, dated August 1, 1945 between the Borrower and Citibank, N.A. (successor to City Bank Farmers Trust Company, as Trustee. 
 “First Mortgage Bonds” means the bonds issued pursuant to the First Mortgage Bond Indenture.

 “Fiscal Year” means a fiscal year of the Borrower and its Consolidated Subsidiaries
ending on December 31 in any calendar year. 
 “Fitch” means Fitch Ratings and any
successor thereto. 
 “Form 10-K” has the meaning set forth in
Section 4.01(g). 
 “Fronting Fee” has the meaning specified in
Section 2.08(c). 
 “Fund” means any Person (other than a natural person)
that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “GAAP” has the meaning specified in Section 1.02(c). 
 “Governmental Approvals” has the meaning specified in Section 4.01(c). 
  

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 Monongahela Power Company Credit Agreement 

 “Governmental Authority” means any national, state,
county, city, town, village, municipal or other de jure or de facto government department, commission, board, bureau, agency, authority or instrumentality of a country or any political subdivision thereof or any regional transmission
authority organized pursuant to federal law, and any Person exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any of the foregoing entities, including all commissions, boards, bureaus,
arbitrators and arbitration panels, and any authority or other Person controlled by any of the foregoing. 
 “Granting Lender” has the meaning specified in Section 8.07(h). 
 “Hazardous Materials” means (a) petroleum or petroleum products, by-products or breakdown products, radioactive materials, asbestos-containing materials, polychlorinated biphenyls and radon gas and (b) any
other chemicals, materials or substances designated, classified or regulated as hazardous or toxic or as a pollutant or contaminant under any Environmental Law. 
 “Hedge Agreements” means (a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, any other Commodity Hedge Agreements, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward
bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar transactions or any combination of the foregoing (including any option to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any
master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or are governed by, any form of master agreement published by the International Swaps and
Derivative Association, Inc., any International Foreign Exchange Master Agreement or any other master agreement (including such master agreement, together with any related schedules, a “Master Agreement”) including any such
obligations or liabilities under any Master Agreement. 
 “Honor Date” has the meaning
specified in Section 2.03(b)(i). 
 “Hybrid Securities” means any securities,
other than common stock, (a) issued by (i) the Borrower or (ii) any business trusts, limited liability companies, limited partnerships (or similar entities) (A) all of the common equity, general partner or similar interests of
which are owned (either directly or indirectly through one or more wholly owned Subsidiaries) at all times by the Borrower and (B) that have been formed for the purpose of issuing hybrid preferred securities, (b) such securities are
classified as possessing a minimum of “intermediate equity content” by S&P, “Basket C equity credit” by Moody’s or “50% Equity Credit” by Fitch (or the equivalent classifications then in effect by such
agencies), by at least two of such agencies, (c) such securities require no repayments or prepayments and no mandatory redemptions or repurchases, in each case prior to a date at least one year after the Final Maturity Date, and (d) the
claims of holders of such securities are subordinated to the Senior Unsecured Debt Obligations on terms reasonably satisfactory to the Administrative Agent. As used in this definition, “mandatory redemption” shall not include conversion of
a security into common stock. 
  

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 Monongahela Power Company Credit Agreement 

 “Indemnified Costs” has the meaning specified in
Section 7.05(a). 
 “Indemnified Party” has the meaning specified in
Section 8.04(b). 
 “Initial Borrowing” means the initial Borrowing to be
made on or after the Closing Date which shall be or is comprised of (a) Advances and/or (b) L/C Credit Extensions. 
 “Initial Issuing Bank” has the meaning specified in the recital of parties to this Agreement. 
 “Initial Lender Parties” has the meaning specified in the recital of parties to this Agreement.

 “Initial Lenders” has the meaning specified in the recital of parties to this
Agreement. 
 “Insolvency Proceeding” means, with respect to any Person, (a) any
proceeding which shall be instituted against such Person seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any
law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or for any substantial part of its property and
either such proceeding shall remain undismissed or unstayed for a period of 60 consecutive days or the entry by any competent Governmental Authority of any jurisdiction or a court having jurisdiction in the premises of a decree or order approving or
ordering any of the actions sought in such proceeding (including the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or any substantial part of its property);
(b) commencement by such Person of a voluntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated as bankrupt or insolvent, or the consent by
such Person to the entry of a decree or order for relief in respect of such Person in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or
insolvency case or proceeding against such Person, or the filing by such Person of a petition or answer or consent seeking reorganization or relief under any Applicable Law; or consent by such Person to the filing of such petition or to the
appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of such Person or of any substantial part of the property of such Person, or the making by such Person of an
assignment for the benefit of creditors or any other marshalling of the assets and liabilities of such Person, or the admission by such Person in writing of its inability to pay its debts generally as they become due, or the taking of corporate
action by such Person in furtherance of any such action; or (c) in the case of a Lender Party, the appointment of a conservator, receiver or liquidator by any applicable Governmental Authority in connection with any of the foregoing.

  

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 Monongahela Power Company Credit Agreement 

 “Interest Period” means, for each Eurodollar Rate
Advance comprising part of the same Borrowing, the period commencing on the date of such Eurodollar Rate Advance or the date of the Conversion of any Base Rate Advance into such Eurodollar Rate Advance, and ending on the last day of the period
selected by the Borrower pursuant to the provisions below and, thereafter, each subsequent period commencing on the last day of the immediately preceding Interest Period and ending on the last day of the period selected by the Borrower pursuant to
the provisions below. The duration of each such Interest Period shall be one, two, three or six months or, if available at the time of selection to all Lenders owed any of the relevant Advances, one week or nine or twelve months, as the Borrower
may, upon notice received by the Administrative Agent not later than 2:00 p.m. (New York City time) on the third Business Day prior to the first day of such Interest Period (or in the case of any Conversion of any Base Rate Advance into a
Eurodollar Rate Advance requested to occur within three Business Days after the Closing Date in accordance with Section 2.11(a)(ii), upon notice received by the Administrative Agent by such time and with such shorter prior notice as may
be agreed by the Administrative Agent); provided, however, that: 
 (a) the Borrower may not select
any Interest Period with respect to any Eurodollar Rate Advance that ends after the date specified in clause (b) of the definition of “Final Maturity Date”; 
 (b) the Borrower may not select any Interest Period if, after giving effect to such selection, there are more than ten
different Interest Periods applicable to all Eurodollar Rate Advances then outstanding; 
 (c) whenever the last
day of any Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period shall be extended to occur on the next succeeding Business Day, provided that, if such extension would cause the last
day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period shall occur on the immediately preceding Business Day; and 
 (d) whenever the first day of any Interest Period occurs on a day of an initial calendar month for which there is no
numerically corresponding day in the calendar month that succeeds such initial calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period shall end on the last Business Day of such succeeding
calendar month. 
 “Intralinks” means the digital internet workspace located at
http://www.intralinks.com. 
 “Investment” in any Person means any loan or advance to
such Person, any purchase or other acquisition of any Equity Interests or Debt or the Assets comprising a division or business unit or a substantial part or all of the business of such Person, any capital contribution to such Person, including any
acquisition by way of a merger or consolidation and any arrangement pursuant to which the investor incurs Debt of the types referred to in clause (j) or (k) of the definition of “Debt” in respect of such Person.

  

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 Monongahela Power Company Credit Agreement 

 “ISP” means, with respect to any Letter of Credit,
the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance of such Letter of Credit). 

“Issuer Documents” means, with respect to any Letter of Credit, the Letter of Credit Application
and any other document, agreement and instrument entered into by any Issuing Bank and the Borrower or in favor of any Issuing Bank and relating to any such Letter of Credit. 
 “Issuing Bank” means each Initial Issuing Bank, any Lender issuing Letters of Credit hereunder and
each Person that shall become an Issuing Bank hereunder pursuant to Section 8.07. 
 “Joint Lead Arrangers” means Scotia Capital and Union Bank, not in their respective individual capacities except as expressly set forth herein but solely as joint lead arrangers. 
 “Joint Venture” means, with respect to any Person, at any date, any other Person in whom such Person
directly or indirectly holds an Investment consisting of an Equity Interest and whose financial results would not be considered under GAAP with the financial results of such Person on the Consolidated financial statements of such Person, if such
statements were prepared in accordance with GAAP as of such date. 
 “L/C Advance” means,
with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Pro Rata Share. 
 “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Borrowing.

 “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance
thereof or extension of the expiry date thereof, or the increase of the amount thereof. 
 “L/C
Obligations” means, as at any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For all purposes of this
Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be
“outstanding” in the amount so remaining available to be drawn. 
  

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 Monongahela Power Company Credit Agreement 

 “Lender” means each Initial Lender and each other
Person that shall become a Lender hereunder pursuant to Sections 2.16(a) or 8.07 for so long as such Initial Lender or Person, as the case may be, shall be a party to this Agreement. 
 “Lender Parties” means the Lenders and the Issuing Banks. 
 “Letter of Credit Application” means an application and agreement for the issuance or amendment of a
Letter of Credit to be issued hereunder by any Issuing Bank in the form from time to time in use by such Issuing Bank. 
 “Letter of Credit Expiration Date” means the day that is five Business Days prior to the date specified in clause (b) of the definition of “Final Maturity Date” (or, if such day is not a
Business Day, the immediately preceding Business Day). 
 “Letter of Credit Fee” has the
meaning specified in Section 2.08(b). 
 “Letters of Credit” means letters of
credit issued by any Issuing Bank pursuant to Section 2.01(b). 
 “LIBOR”
means, for any applicable Interest Period with respect to all Eurodollar Rate Advances comprising part of the same Borrowing, the rate of interest per annum that appears on the Reuters LIBOR01 Page as of 11:00 a.m., London, England time, two
(2) Business Days prior to the commencement of such Interest Period, for Dollar deposits in the approximate amount of the Eurodollar Rate Advance being made, continued or converted with a maturity comparable to such Interest Period. If the
Reuters LIBOR01 Page does not include such rate or is then unavailable, then LIBOR shall mean with respect to any Eurodollar Rate Advances for any Interest Period, the rate of interest per annum quoted by the Administrative Agent to leading banks in
the London interbank market as the rate at which the Administrative Agent is offering Dollar deposits in the approximate amount of the Eurodollar Rate Advance being made, continued or converted with a maturity comparable to such Interest Period at
approximately 11:00 a.m., London, England time, two (2) Business Days prior to the commencement of such Interest Period. 
 “Lien” means any lien, mortgage, deed of trust, pledge, security interest or other charge or encumbrance of any kind, including the lien or retained security title of a conditional
vendor and any easement, right of way or other encumbrance on title to real property. 
 “Margin
Stock” has the meaning specified in Regulation U of the Board of Governors of the Federal Reserve System, as in effect from time to time. 
 “Material Adverse Change” means any material adverse change in the business, financial condition, operations or properties of the Borrower and its Subsidiaries, taken as a whole.

 “Material Adverse Effect” means a material adverse effect on (a) the business,
financial condition, operations or properties of the Borrower and its Subsidiaries, taken as a whole, (b) the rights and remedies of any Lender Party under any Financing Document or (c) the ability of the Borrower to perform its
Obligations under the Financing Documents. 
  

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 Monongahela Power Company Credit Agreement 

 “Material Subsidiary” means, collectively,
(a) any Subsidiary (other than any SPC or any Subsidiary which is principally obligated under any Project Finance Debt) of the Borrower existing as of the Closing Date which, as of the Closing Date or thereafter, has Assets, including any
deposit or securities accounts, with a book value in excess of $150,000,000 in the aggregate, and (b) any Subsidiary of the Borrower incorporated or formed after the Closing Date, or any Person that becomes a Subsidiary of the Borrower after
the Closing Date, in each case, that has Assets, including any deposit or securities accounts, with a book value in excess of $150,000,000 in the aggregate. 
 “Medium Term Notes” means those certain 7.36% Notes due January 2010 issued by the Borrower.

 “Moody’s” means Moody’s Investors Service, Inc. 
 “Multiemployer Plan” means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to
which the Borrower or any of its Subsidiaries or any ERISA Affiliate is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions. 
 “Multiple Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of
ERISA, that (a) is maintained for employees of the Borrower or any of its Subsidiaries or any ERISA Affiliate and at least one Person other than the Borrower, its Subsidiaries and the ERISA Affiliates or (b) was so maintained and in
respect of which the Borrower and any of its Subsidiaries or any ERISA Affiliate could have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated. 
 “Non-Extension Notice Date” has the meaning specified in Section 2.03(a)(iii).

 “Non-Recourse Debt” shall mean Debt that is nonrecourse to the Borrower, including any
Permitted Securitization or Project Finance Debt. 
 “Note” means a promissory note of
the Borrower payable to the order of a Lender in substantially the form of Exhibit A, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from Advances made by such Lender hereunder to the Borrower. 
 “Notice of Borrowing” has the meaning specified in Section 2.02(a). 
 “Notice of Conversion/Continuation” has the meaning specified in Section 2.11(a)(ii).

 “NPL” means the National Priorities List under CERCLA. 
  

 - 20 - 
 Monongahela Power Company Credit Agreement 

 “Obligation” means, with respect to any Person, any
payment, performance or other obligation of such Person of any kind, including any liability of such Person on any claim, whether or not the right of any creditor to payment in respect of such claim is reduced to judgment, liquidated, unliquidated,
fixed, contingent, matured, disputed, undisputed, legal, equitable, secured or unsecured, and whether or not such claim is discharged, stayed or otherwise affected by any proceeding referred to in Section 6.01(f). Without limiting the
generality of the foregoing, the Obligations of the Borrower under the Financing Documents include (a) the obligation to pay principal, interest, Letter of Credit commissions, charges, expenses, fees, attorneys’ and consultants’ fees
and disbursements, indemnities and other amounts payable by the Borrower under any Financing Document and (b) the obligation to reimburse any amount in respect of any of the foregoing that any Lender Party, in its sole discretion, may elect to
pay or advance on behalf of the Borrower. 
 “OECD” means the Organization for Economic
Cooperation and Development. 
 “OFAC” means the U.S. Department of the Treasury’s
Office of Foreign Assets Control. 
 “Officer’s Certificate” means, with respect to
any Person, a certificate signed by a Responsible Officer of such Person. 
 “Other
Taxes” has the meaning specified in Section 2.13(b). 
 “Outstanding
Amount” means (a) on any date, the aggregate principal amount of outstanding Advances after giving effect to any Borrowings and prepayments occurring on such date; and (b) with respect to any L/C Obligations on any date, the
amount of such L/C Obligations on such date after giving effect to any relevant L/C Credit Extension occurring on such date and any other changes in the aggregate amount of such L/C Obligations as of such date, including as a result of any
reimbursements of outstanding unpaid drawings under any relevant Letters of Credit or any reductions in the maximum amount available for drawing under any relevant Letters of Credit taking effect on such date. 
 “Parent” means Allegheny Energy, Inc., the parent company of the Borrower. 
 “Parent Credit Agreement” means that certain Credit Agreement, dated as of May 22, 2006, among
the Parent, AE Supply, the lenders and issuing bank party thereto, and Citicorp North America, Inc., as administrative agent. 
 “PBGC” means the Pension Benefit Guaranty Corporation (or any successor). 
 “PEC” means The Potomac Edison Company, a Maryland and Virginia corporation. 
 “Performance Guarantees” means any guarantee issued in connection with any Project Finance Debt that if secured, is secured only by Assets of and/or Equity Interests of a
Subsidiary obligated in respect of the applicable Project Finance Debt. 
  

 - 21 - 
 Monongahela Power Company Credit Agreement 

 “Permitted Liens” means such of the following as to
which no enforcement, collection, execution, levy or foreclosure proceeding shall have been commenced: (a) Liens for taxes, assessments and governmental charges or levies to the extent not required to be paid under Section 5.01(c);
(b) Liens imposed by law, such as materialmen’s, mechanics’, carriers’, workmen’s and repairmen’s Liens and other similar Liens arising in the ordinary course of business securing obligations that are not overdue for a
period of more than 30 days, or which are subject to Contest; (c) Liens or deposits to secure obligations under workers’ compensation laws or similar legislation or to secure public or statutory obligations; (d) deposits to secure the
performance of bids, leases (other than Capitalized Leases), trade contracts, public or statutory obligations (including environmental, municipal and public utility commission obligations under Applicable Laws), surety bonds (other than bonds
related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business; (e) Liens securing judgments for the payment of money not constituting an Event of Default under
Section 6.01(g) or securing appeal or other surety bonds related to such judgments; (f) zoning restrictions, easements, rights of way and other encumbrances on title to real property that do not render title to the property
encumbered thereby unmarketable or materially adversely affect the use of such property for its present purposes; (g) Liens securing reimbursement obligations with respect to letters of credit (which reimbursement obligations relate to Debt
which has not been incurred in contravention of the terms of this Agreement and the other Financing Documents) that encumber documents and other property relating to such letters of credit and the proceeds and products thereof, including such Liens
arising in connection with the issuance of letters of credit on behalf of the Parent to support obligations of the Borrower and its Subsidiaries under Hedge Agreements to the extent that such Hedge Agreements are entered into in accordance with the
terms of this Agreement; (h) Liens on cash deposits in the nature of a right of setoff, banker’s lien, counterclaim or netting of cash amounts owed arising in the ordinary course of business on deposit accounts, commodity accounts or
securities accounts; (i) financing statements filed on a precautionary basis in respect of operating leases to the extent such lease is otherwise permitted under the terms of this Agreement; provided that no such financing statement
extends to or refers to as collateral any Assets which are not subject to such operating lease; and (j) rights of first refusal, options or other contractual rights or obligations to sell, assign or otherwise dispose of any Asset or interest
therein which rights of first refusal, option or contractual right is in connection with a sale, transfer or other disposition of Assets permitted under Section 5.02(b) or 5.02(c). 
 “Permitted Securitization” means any sale, assignment, conveyance, grant and/or contribution, or
series of related sales, assignments, conveyances, grants and/or contributions, by the Borrower or any of its Subsidiaries of Receivables (or purported sale, assignment, conveyance, grant and/or contribution) to a trust, corporation or other entity,
where the purchase of such Receivables is funded or exchanged in whole or in part by the incurrence or issuance by the purchaser, grantee or any successor entity of Debt or securities that are to receive payments from, or that represent interests
in, the cash flow derived primarily from such Receivables (provided, however, that “Debt” as used in this definition shall not include Debt incurred by an SPC owed to the Borrower or

  

 - 22 - 
 Monongahela Power Company Credit Agreement 

 
any of its Subsidiaries, as applicable, which Debt represents all or a portion of the purchase price or other consideration paid by the SPC for such receivables or interests therein), where
(a) any representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of the Borrower or any of its Subsidiaries, as applicable, in respect of Receivables sold, assigned, conveyed, granted or
contributed, or payments made in respect thereof, are customary for transactions of this type, and do not prevent the characterization of the transaction as a true sale under applicable laws (including debtor relief laws), (b) any
representation, warranty, covenant, recourse, repurchase, hold harmless, indemnity or similar obligations of any SPC in respect of Receivables sold, assigned, conveyed, granted or contributed or payments made in respect thereof, are customary for
transactions of this type. 
 “Person” means an individual, partnership, corporation
(including a business or statutory trust), limited liability company, joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. 
 “PJM” means PJM Interconnection, L.L.C. 
 “Plan” means a Single-Employer Plan or a Multiple Employer Plan. 
 “Platform” has the meaning specified in Section 8.02(c). 
 “Pollution Control Bond Indentures” means (a) the Trust Indenture dated as of April 15,
1983, between the County Commission of Monongalia County, West Virginia and The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, as supplemented by that First Supplemental Indenture dated as of April 1, 1993, between the
County Commission of Monongalia County, West Virginia and The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, providing for Pollution Control Revenue Bonds, Series B (Monongahela Power Company Fort Martin Station Project);
(b) Trust Indenture dated as of April 15, 1992, between the County Commission of Harrison County, West Virginia and The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, providing for Solid Waste Disposal Revenue
Bonds Series A (Monongahela Power Company Harrison Station Project), as supplemented by that First Supplemental Indenture dated as of May 1, 1993, between the County Commission of Harrison County, West Virginia and The Bank of New York Mellon
(as successor to Mellon Bank, N.A.), as Trustee, providing for Solid Waste Disposal Revenue Bonds, Series B (Monongahela Power Company Harrison Station Project), as supplemented by that Second Supplemental Indenture dated as of July 15, 1994,
between the County Commission of Harrison County, West Virginia and The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, providing for Solid Waste Disposal Revenue Bonds, Series C (Monongahela Power Company Harrison Station
Project); (c) the Trust Indenture dated as of February 1, 1977, between Greene County Industrial Development Authority The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, as supplemented by that First Supplemental
Indenture dated as of March 1, 1998, between Greene County Industrial Development Authority and The Bank of New York Mellon (successor trustee to J.P. Morgan Trust Company,

  

 - 23 - 
 Monongahela Power Company Credit Agreement 

 
National Association (formerly Chase Manhattan Trust Company, National Association), as Trustee, providing for Pollution Control Revenue Bonds, Series B (Monongahela Power Company Hatfield’s
Ferry Project); (d) the Trust Indenture dated as of November 1, 1977, between the County Commission of Pleasants County, West Virginia and The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, as supplemented by that
Second Supplemental Indenture dated as of May 15, 1995, between the County Commission of Pleasants County, West Virginia and The Bank of New York Mellon (as successor to Mellon Bank, N.A.), as Trustee, providing for Pollution Control Revenue
Bonds, Series C (Monongahela Power Company Pleasants Station Project), as supplemented by that Third Supplemental Indenture dated as of February 1, 1998, between the County Commission of Pleasants County, West Virginia and The Bank of New York
Mellon (successor trustee to J.P. Morgan Trust Company, National Association (formerly Chase Manhattan Trust Company, National Association), as Trustee, providing for Pollution Control Revenue Bonds, Series D (Monongahela Power Company Pleasants
Station Project), as supplemented by that Fourth Supplemental Indenture dated as of April 1, 1999, between the County Commission of Pleasants County, West Virginia and The Bank of New York Mellon (successor trustee to J.P. Morgan Trust Company,
National Association (formerly Chase Manhattan Trust Company, National Association), as Trustee, providing for Pollution Control Revenue Bonds, Series D (Monongahela Power Company Pleasants Station Project). 
 “Pollution Control Bonds” means all notes, bonds and other instruments evidencing Debt issued
pursuant to the Pollution Control Bond Indentures and which Debt if secured by a Lien, is secured only by Liens on the pollution control equipment financed by the proceeds of such Debt. 
 “Preferred Interests” means, with respect to any Person, Equity Interests issued by such Person that
are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s Assets, whether by dividend or upon liquidation. 
 “Project Finance Debt” means, any Debt of a Person that is incurred for the purpose of financing the
development, construction, acquisition or improvement of operating or capital assets (the “Project”) which is either (i) non-recourse to such Person except with respect to such operating or capital assets (and revenues,
proceeds and other customary ancillary assets) being financed in such Project or, (ii) if such Person is (A) a special purpose entity formed for the purpose of obtaining such financing and undertaking the ownership or operation of such
Project or (B) an entity whose sole asset is the direct or indirect ownership of Equity Interests in an entity described in clause (A), is limited in recourse primarily to such Persons and their assets, provided that Indebtedness shall
not fail to be considered “Project Finance Debt” if the holders of such Project Finance Debt have (1) recourse to Equity Interests or other Investments in the entities described in clause (ii) above held by the Borrower or any of
its Subsidiaries and (2) limited recourse to the Borrower or its Subsidiaries in the form of Performance Guarantees. 
  

 - 24 - 
 Monongahela Power Company Credit Agreement 

 “Pro Rata Share” means, with respect to each Lender
at any time, a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Commitment of such Lender and the denominator of which is the amount of the Facility; provided that if
the commitment of each Lender to make Advances and the obligation of each Issuing Bank to make L/C Credit Extensions have been terminated pursuant to Section 2.05 or 6.01, then the Pro Rata Share of each Lender shall be determined
based on the Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms hereof. The initial Pro Rata Share of each Lender is set forth opposite the name of
such Lender on Schedule I or in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable. 
 “Public Debt Rating” means, as of any date, the higher rating that has been most recently announced by either S&P or Moody’s, as the case may be, for the non-credit
enhanced long-term senior unsecured debt issued by the Borrower; provided that (i) if only one of S&P and Moody’s shall have in effect a Public Debt Rating or if neither S&P nor Moody’s shall have in effect a Public
Debt Rating, the Applicable Margin and Commitment Fee Rate will be determined in accordance with Level 4 under the definition of “Applicable Margin” and “Commitment Fee Rate”, respectively; (ii) if such ratings
established by S&P and Moody’s shall differ by one level, the Applicable Margin and Commitment Fee Rate shall be determined in accordance with the higher rating; (iii) if such ratings established by S&P and Moody’s shall
differ by two or more levels, the Applicable Margin and Commitment Fee Rate shall be based upon the rating which is one rating level higher than the lower of the ratings established by S&P and Moody’s; (iv) if any rating established by
S&P or Moody’s shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (v) if S&P or Moody’s shall change the basis on which
ratings are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be. If the rating system of
Moody’s or S&P applicable to any class of non-credit enhanced long-term senior unsecured debt shall change in any material respect, or if either such rating agency shall cease to be in the business of rating corporate debt obligations, the
Borrower and the Required Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and pending the effectiveness of any such amendment, the
Applicable Margin and the Commitment Fee Rate shall be determined by reference to the ratings most recently in effect prior to such change or cessation. 
 “Quarterly Date” means the last Business Day of March, June, September and December, commencing with December 31, 2009. 
 “Receivables” means any accounts receivable, payment intangibles, notes receivable, ratepayer
obligation charges received pursuant to West Virginia statute and an irrevocable financing order of the WV PSC (“ROCs”), rights to receive future payments and related rights, including financial transmission rights
(“FTRs”), auction revenue rights (“ARRs”) or any other rights to payment from the PJM or another regional

  

 - 25 - 
 Monongahela Power Company Credit Agreement 

 
transmission authority (whether now existing or arising or acquired in the future) of the Borrower or any of its Subsidiaries, and any supporting obligations and other financial assets related
thereto (including all collateral securing such accounts receivables, ROCs, FTRs, ARRs, or other assets, contracts and contract rights, all guarantees with respect thereto, and all proceeds thereof) which are transferred, or in respect of which
security interests are granted in one or more transactions that are customary for asset securitizations of such Receivables. 
 “Redeemable” means, with respect to any Preferred Interests, any such Preferred Interests that the issuer is required, pursuant to the terms and conditions thereof, to redeem at a
fixed or determinable date or dates, whether by operation of a sinking fund or otherwise, or upon the occurrence of a condition not solely within the control of the issuer. 
 “Register” has the meaning specified in Section 8.07(e). 
 “Related Fund” means, with respect to any Lender or Eligible Assignee that is a Fund, any other Fund
that is administered or managed by the same Person as such Lender or Eligible Assignee or by an Affiliate of such Person. 
 “Representatives” has the meaning specified in Section 8.12(a). 
 “Required Lenders” means, at any time, Lenders owed or holding at least a majority in interest of the sum of (a) the aggregate principal amount of all Advances outstanding at
such time, plus (b) the aggregate Unused Commitments of all Lenders (other than Defaulting Lenders) at such time. 
 “Responsible Officer” means, with respect to any Person, the president, any vice-president, the treasurer, the chief financial officer, the assistant treasurer or an Authorized
Signatory of such Person. 
 “S&P” means Standard & Poor’s Ratings
Services, a division of The McGraw-Hill Companies, Inc. 
 “Sale” means any sale
(including by way of sale/leaseback), lease, assignment, transfer or other disposition. 
 “Sanctioned
Entity” means (a) an agency of the government of, (b) an organization directly or indirectly controlled by, or (c) a person resident in, a country that is subject to a sanctions program identified on the list maintained
by OFAC and available at http://www.treas.gov/offices/enforcement/ofac/sanctions/index.html, or other replacement official publication of such list published from time to time. 
 “Sanctioned Person” means a person named on the list of Specially Designated Nationals or Blocked
Persons maintained by OFAC available at http://www.treas.gov/offices/enforcement/ofac/sanctions/index.html, or as otherwise published from time to time as such program may be applicable to such agency, organization or person. 
  

 - 26 - 
 Monongahela Power Company Credit Agreement 

 “Scotia Capital” means The Bank of Nova Scotia,
solely in its capacity as a joint lead arranger and joint book runner in respect of the Facility. 
 “SEC” means the Securities and Exchange Commission. 
 “Senior
Unsecured Debt Obligations” means, without duplication, (a) the Obligations of the Borrower to pay principal and interest on the Advances (including any interest accruing after the filing of a petition with respect to, or the
commencement of, any Insolvency Proceeding, whether or not a claim for post-petition interest is allowed in such proceeding); and (b) any and all commissions, fees, indemnities, prepayment premiums, costs and expenses and other amounts payable
to any Lender Party under any Financing Document, including all renewals or extensions thereof; provided that notwithstanding anything to the contrary in any Financing Document, “Senior Unsecured Debt Obligations”
shall not include any Obligations of the Borrower owed to any of its Affiliates. 
 “Single-Employer
Plan” means a single-employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of the Borrower or any of its Subsidiaries or any ERISA Affiliate and no Person other than the Borrower, its
Subsidiaries and the ERISA Affiliates or (b) was so maintained and in respect of which the Borrower, any of its Subsidiaries or any ERISA Affiliate could have liability under Section 4069 of ERISA in the event such plan has been or were to
be terminated. 
 “Specified Default” means (a) any Event of Default or (b) any
event that would constitute an Event of Default under clause (a) or (f) of Section 6.01 but for the requirement that notice be given or time elapse or both. 
 “SPC” means a special purpose Person formed for the sole and exclusive purpose of engaging in
activities in connection with the purchase, sale and/or financing of Receivables in connection with and pursuant to a Permitted Securitization, which Person is intended to be structured to be bankruptcy-remote. 
 “SPV” has the meaning provided in Section 8.07(h). 
 “Standby Letter of Credit” means any Letter of Credit issued under this Agreement, other than a Trade
Letter of Credit. 
 “Subsidiary” of any Person means any corporation, partnership, joint
venture, limited liability company, trust or estate of which (or in which) more than 50% of (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation
(irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (b) the interest in the capital or profits of such partnership, joint
venture or limited liability company or (c) the beneficial interest in such trust or estate is at the time, directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of
such Person’s other Subsidiaries. 
  

 - 27 - 
 Monongahela Power Company Credit Agreement 

 “Tax Allocation Agreement” means the Tax Allocation
Agreement, dated as of July 1, 2003, by and among the Parent and its Subsidiaries. 
 “Taxes” means all federal, state, local or foreign income, gross receipts, windfall profits, severance, property, production, sales, use, excise, franchise, employment, value added, real estate, withholding or
similar taxes, assessments, fees, liabilities or other charges, together with any interest, additions or penalties with respect thereto and any interest in respect of such additions or penalties. 
 “Termination Event” means an event described in Section 4042(a) of ERISA. 
 “Total Capitalization” means, at any date, the sum of (a) Consolidated Debt, plus
(b) Consolidated stockholders’ equity of the common, preference and preferred equityholders of the Borrower and its Subsidiaries (excluding from stockholders’ equity on any date of determination (i) the effect of all unrealized
gains and losses relating to derivative instruments recorded in income or in other comprehensive income in accordance with GAAP and (ii) the effect of any pension and other post-retirement benefit liability adjustment recorded in accordance
with GAAP, and including in stockholders’ equity the non-controlling interest in AGC), plus (c) the aggregate principal amount of Hybrid Securities; provided that, for purposes of determining “Total Capitalization”, in no
event shall the aggregate principal amount of Hybrid Securities for purposes of this clause (c) exceed 15% of Total Capitalization; provided, further that, for purposes of calculating Total Capitalization, Consolidated Debt shall exclude
Non-Recourse Debt and Total Capitalization shall exclude Equity Interest in each Subsidiary of the Borrower that is an obligor for, or whose Assets secure, Non-Recourse Debt. 
 “Total Revolving Outstandings” means the aggregate Outstanding Amount of all Advances and all L/C
Obligations. 
 “Trade Letter of Credit” means any Letter of Credit that is issued under
this Agreement for the benefit of a supplier of goods or services to the Borrower or any of its Subsidiaries to effect payment for such goods or services, the conditions to drawing under which include the presentation to an Issuing Bank. 

“Transactions” means the financing and other transactions contemplated by the Financing Documents.

 “Type” refers to the distinction between Advances bearing interest at the Base Rate
and Advances bearing interest at the Eurodollar Rate. 
 “UCC” or “Uniform
Commercial Code” means the Uniform Commercial Code as in effect, from time to time, in the State of New York; provided that if perfection or the effect of perfection or non-perfection or the priority of any security interest in
any collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for
purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 
  

 - 28 - 
 Monongahela Power Company Credit Agreement 

 “Union Bank” means Union Bank, N.A., solely in its
capacity as a joint lead arranger, joint book runner and syndication agent in respect of the Facility. 
 “Unreimbursed Amount” has the meaning specified in Section 2.03(b)(i). 
 “Unused Commitment” means, with respect to any Lender at any time, (a) such Lender’s Commitment at such time minus (b) such Lender’s Pro Rata Share of the Total Revolving Outstandings.

 “Voting Interests” means shares of capital stock issued by a corporation, or
equivalent Equity Interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to
vote has been suspended by the happening of such a contingency. 
 “Withdrawal Liability”
has the meaning specified in Part I of Subtitle E of Title IV of ERISA. 
 “WV PSC” means
the West Virginia Public Service Commission. 
 SECTION 1.02. Principles of Interpretation. (a) Except to the extent
expressly provided to the contrary in this Agreement or to the extent that the context otherwise requires, in this Agreement and the other Financing Documents: 
 (i) the table of contents and Article and Section headings are for convenience only and shall not affect the interpretation
of any Financing Document; 
 (ii) references to any document, instrument or agreement, including any Financing
Document, shall include (A) all exhibits, annexes, schedules, appendices or other attachments thereto and (B) all documents, instruments or agreements issued or executed in replacement thereof; 
 (iii) references to a document or agreement, including any Financing Document, shall be deemed to include any amendment,
restatement, modification, supplement or replacement thereto entered into in accordance with the terms thereof and the terms of the Financing Documents; 
 (iv) the words “include”, “includes” and “including” are not limiting; 
 (v) references to any Person shall include such Person’s successors and permitted assigns (and, in the case of any
Governmental Authority, any Person succeeding to such Governmental Authority’s functions and capacities); 
  

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 Monongahela Power Company Credit Agreement 

 (vi) the words “hereof”, “herein” and
“hereunder” and words of similar import when used in any Financing Document shall refer to such Financing Document as a whole and not to any particular provision of such Financing Document; 
 (vii) references to “days” shall mean calendar days; 
 (viii) the singular includes the plural and the plural includes the singular; 
 (ix) references to Applicable Law, generally, shall mean Applicable Law as in effect from time to time, and references to any
specific Applicable Law shall mean such Applicable Law, as amended, modified or supplemented from time to time, and any Applicable Law successor thereto; 
 (x) in the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including” and the words “to”
and “until” each mean “to but excluding”; and 
 (xi) any reference in this
Agreement or any other Financing Document to an Article, Section, Schedule, Appendix or Exhibit is to the article or section of, or a schedule, appendix or exhibit to, this Agreement or such other Financing Document, as the case may be, unless
otherwise indicated. 
 (b) This Agreement and the other Financing Documents are the result of negotiations among the parties
hereto and their respective counsel. Accordingly, this Agreement and the other Financing Documents shall be deemed the product of all parties hereto or thereto, as the case may be, and no ambiguity in this Agreement, or any Financing Document shall
be construed in favor of or against the Borrower, the Administrative Agent, any Arranger Party or any Lender Party that is a party hereto. 
 (c) All accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared, in
accordance with generally accepted accounting principles as in effect from time to time, applied on a basis consistent (except for changes concurred in by the Borrower’s independent public accountants) with the most recent audited consolidated
financial statements of the Borrower and its Subsidiaries delivered to the Lenders (“GAAP”); provided that, if the Borrower notifies the Administrative Agent that the Borrower wishes to amend the covenant in
Section 5.03 to eliminate the effect of any change in generally accepted accounting principles on the operation of such covenant (or if the Administrative Agent notifies the Borrower that the Required Lenders wish to amend
Section 5.03 for such purpose), then the Borrower’s compliance with such covenant shall be determined on the basis of generally accepted accounting principles in effect immediately before the relevant change in generally accepted
accounting principles became effective, until either such notice is withdrawn or such covenant is amended in a manner satisfactory to the Borrower and the Required Lenders. 
 SECTION 1.03. Letter of Credit. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time
shall be deemed to mean the stated face amount of such Letter of Credit in effect at such time; provided, however, that with respect to 
  

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 Monongahela Power Company Credit Agreement 

 
any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter
of Credit shall be deemed the maximum stated amount of such Letter of Credit after giving effect to all increases thereof, whether or not such maximum face amount is in effect at such time. 
 ARTICLE II 
 AMOUNTS AND TERMS OF THE ADVANCES 

 AND LETTERS OF CREDIT 
 SECTION 2.01. The Advances. (a) Advance. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make advances (each, an “Advance”)
in Dollars to the Borrower from time to time on any Business Day during the period from the Closing Date until the Final Maturity Date in an amount for each such Advance not to exceed such Lender’s Unused Commitment at such time; provided
that after giving effect to any Borrowing, (i) the Total Revolving Outstandings shall not exceed the Facility, and (ii) the aggregate Outstanding Amount of the Advances of any Lender plus such Lender’s Pro Rata Share of the
Outstanding Amount of all L/C Obligations, shall not exceed such Lender’s Commitment. Each Borrowing shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same
Type made simultaneously by the Lenders ratably according to their Commitments. Within the limits of each Lender’s Unused Commitment in effect from time to time, the Borrower may borrow under this Section 2.01(a), prepay pursuant to
Section 2.06(a) and reborrow under this Section 2.01(a). 
 (b) Letters of Credit. Subject to the
terms and conditions set forth herein, (i) each Issuing Bank agrees, in reliance upon the agreements of the other Lenders set forth in Section 2.03, (A) from time to time on any Business Day during the period from the Closing
Date until the Letter of Credit Expiration Date, to make L/C Credit Extensions for the account of the Borrower or its Subsidiaries, and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.03(a)(i)
and (ii), and (B) to honor drawings under the Letters of Credit issued by it; and (ii) the Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower or its Subsidiaries and any L/C Borrowings
thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Revolving Outstandings shall not exceed the Facility and (y) the aggregate Outstanding Amount of the
Advances of any Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, shall not exceed such Lender’s Commitment. Each request by the Borrower for the issuance of, or an amendment to increase the
amount of, any Letter of Credit shall be deemed to be a representation by the Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and
subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that
have expired or that have been drawn upon and reimbursed. 
  

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 Monongahela Power Company Credit Agreement 

 (c) Letters of Credit Generally. (i) No Issuing Bank shall issue any Letter of
Credit if the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the Lenders have approved such expiry date; provided that in no event shall the expiry date of any requested
Letter of Credit occur on or after the Business Day immediately preceding the third anniversary of the Closing Date. 
 (ii) No Issuing Bank shall be under any Obligation to make any L/C Credit Extension if: 
 (A) any
order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any Applicable Law to such Issuing Bank or any request or directive
(whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or request that the Issuing Bank refrain from, the issuance of Letters of Credit generally or such Letter of Credit in
particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on the Closing Date, or shall
impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which such Issuing Bank in good faith deems material to it; 
 (B) the making of such L/C Credit Extension would violate any Applicable Laws; 
 (C) except as otherwise agreed by the Administrative Agent and such Issuing Bank, such Letter of Credit is in an initial face
amount less than $100,000; 
 (D) such L/C Credit Extension is to be denominated in a currency other than
Dollars; 
 (E) such L/C Credit Extension contains any provisions for automatic reinstatement of the stated
amount after any L/C Borrowing thereunder; or 
 (F) a default of any Lender’s obligations to fund under
Section 2.03 exists, or any Lender is then a Defaulting Lender, unless such Issuing Bank has entered into satisfactory arrangements with the Borrower or such Lender to eliminate such Issuing Bank’s risk with respect to such Lender.

 (iii) No Issuing Bank shall amend any Letter of Credit if such Issuing Bank would not be permitted at such
time to make such L/C Credit Extension in its amended form under the terms hereof. 
 (iv) No Issuing Bank shall
be under the obligation to amend any Letter of Credit if (A) such Issuing Bank would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit
does not accept the proposed amendment to such Letter of Credit. 
  

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 Monongahela Power Company Credit Agreement 

 SECTION 2.02. Making the Advances. (a) Except as otherwise provided in
Section 2.03, each Borrowing shall be made on notice, given by the Borrower not later than 2:00 p.m. (New York City time) on the third Business Day prior to the date of the proposed Borrowing in the case of a Borrowing consisting of
Eurodollar Rate Advances, or not later than 11:00 a.m. (New York City time) on the date of the proposed Borrowing in the case of a Borrowing consisting of Base Rate Advances, to the Administrative Agent, which shall give to each Lender prompt notice
thereof by telecopier or electronic mail. Each such notice of a Borrowing (a “Notice of Borrowing”) shall be by telephone, confirmed immediately in writing, or telecopier or electronic mail, in substantially the form of
Exhibit B, specifying therein the requested (i) date of such Borrowing, (ii) Type of Advances comprising such Borrowing, (iii) aggregate amount of such Borrowing and (iv) in the case of a Borrowing consisting of Eurodollar
Rate Advances, initial Interest Period for each such Advance. Each Lender shall, before 12:00 noon (New York City time) on the date of such Borrowing, make available for the account of its Applicable Lending Office to the Administrative Agent at the
Administrative Agent’s Account, in immediately available funds, such Lender’s ratable portion of such Borrowing in accordance with the respective Commitment of such Lender and the other Lenders. After the Administrative Agent’s
receipt of such funds and upon fulfillment of the applicable conditions set forth in Article III, the Administrative Agent shall make such funds available to the Borrower, by crediting the Borrowing Account; provided, however, that the
Administrative Agent shall first make a portion of such funds equal to the aggregate principal amount of any L/C Borrowings made by any Issuing Bank and by any Lender, as the case may be, and outstanding on the date of such Borrowing, plus
interest accrued and unpaid thereon to and as of such date, available to such Issuing Bank or such other Lender, as the case may be, for repayment of such L/C Borrowing. 
 (b) Anything in subsection (a) above to the contrary notwithstanding, (i) the Borrower may not select Eurodollar Rate Advances for any Borrowing if the aggregate amount of such Borrowing is less
than $2,000,000 or if the obligation of the Lenders to make Eurodollar Rate Advances shall then be suspended pursuant to Section 2.11 or 2.12 and (ii) the Advances may not be outstanding as part of more than fifteen separate
Borrowings. 
 (c) Each Notice of Borrowing shall be irrevocable and binding on the Borrower. In the case of any Borrowing that
the Borrower has specified in the related Notice of Borrowing is to be comprised of Eurodollar Rate Advances, the Borrower shall indemnify each Lender against any loss, cost or expense incurred by such Lender as a result of any failure to fulfill on
or before the date specified in such Notice of Borrowing for such Borrowing the applicable conditions set forth in Article III, including any loss (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation
or redeployment of deposits or other funds acquired by such Lender to fund the Advance to be made by such Lender as part of such Borrowing when such Advance, as a result of such failure, is not made on such date. 
 (d) Subject to the Administrative Agent giving prompt notice of the relevant Notice of Borrowing received by the Administrative Agent to the
Lenders, unless the Administrative Agent shall have received notice from any Lender prior to the date of the Borrowing requested under such Notice of Borrowing that such Lender will not make available to the Administrative Agent such Lender’s
ratable portion of such Borrowing, the Administrative Agent may assume that such Lender has made such portion available to the Administrative

  

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 Monongahela Power Company Credit Agreement 

 
Agent on the date of such Borrowing in accordance with subsection (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to
the Borrower a corresponding amount. If and to the extent that such Lender shall not have so made such ratable portion available to the Administrative Agent, such Lender and the Borrower severally agree to repay or pay to the Administrative Agent
forthwith on demand such corresponding amount and to pay interest thereon, for each day from the date such amount is made available to the Borrower until the date such amount is repaid or paid to the Administrative Agent, at (i) in the case of
the Borrower, the interest rate applicable at such time under Section 2.07 to Advances comprising such Borrowing and (ii) in the case of such Lender, the Federal Funds Rate. If such Lender shall pay to the Administrative Agent such
corresponding amount, such amount so paid shall constitute such Lender’s Advance as part of such Borrowing for all purposes. 
 (e) The failure of any Lender to make the Advance to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Advance on the date of such Borrowing, but no Lender shall be
responsible for the failure of any other Lender to make the Advance to be made by such other Lender on the date of any Borrowing. 
 SECTION 2.03. Issuance of Letters of Credit; Drawings and Reimbursements; Auto-Extension Letters of Credit; Funding of Participations. (a) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of
Credit. (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to an Issuing Bank (with a copy to the Administrative Agent) in the form of a Letter of Credit Application,
appropriately completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application must be received by such Issuing Bank and the Administrative Agent not later than 2:00 p.m. (New York City time) at least one
(1) Business Day (or such later date and time as the Administrative Agent and the Issuing Bank may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the
case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the respective Issuing Bank: (A) the proposed issuance date of the requested Letter of Credit
(which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof (which date shall be not later than the earlier of (1) the date which is twelve (12) months after the proposed issuance date and (2) the
Letter of Credit Expiration Date (or such later date as may be agreed by the Lenders in accordance with Section 2.01(c)(i)); (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such
beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as such Issuing Bank may require. In the case of a
request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the respective Issuing Bank (w) the Letter of Credit to be amended; (x) the proposed date of
amendment thereof (which shall be a Business Day); (y) the nature of the proposed amendment; and (z) such other matters as such Issuing Bank may require. Additionally, the Borrower shall furnish to each Issuing Bank and the Administrative
Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as each such Issuing Bank or the Administrative Agent may require. 
  

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 Monongahela Power Company Credit Agreement 

 (ii) Promptly after receipt of any Letter of Credit Application, the Issuing Bank will
confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, such Issuing Bank will provide the Administrative Agent with a
copy thereof. Unless such Issuing Bank has received written notice from any Lender, the Administrative Agent or the Borrower, at least one (1) Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit,
that one or more applicable conditions contained in Article III shall not then be satisfied, then, subject to the terms and conditions hereof, such Issuing Bank shall, on the requested date, make an L/C Credit Extension for the account of the
Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with such Issuing Bank’s usual and customary business practices. Immediately upon the making of each L/C Credit Extension, each Lender shall be
deemed to, and hereby irrevocably and unconditionally agrees to, purchase from such Issuing Bank a risk participation in such L/C Credit Extension in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such
L/C Credit Extension. 
 (iii) If the Borrower so requests in any applicable Letter of Credit Application, the Issuing Bank may,
in its sole and absolute discretion, agree to make an L/C Credit Extension that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit
must permit such Issuing Bank to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) or upon notice to such Issuing Bank by the Administrative Agent or the Borrower of
an Insolvency Proceeding with respect to the Borrower or any Material Subsidiary, by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be
agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by such Issuing Bank, the Borrower shall not be required to make a specific request to such Issuing Bank for any such extension. Once an Auto-Extension Letter of
Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) such Issuing Bank to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date (or
such later date as may be agreed by the Lenders in accordance with Section 2.01(c)(i)); provided, however, that such Issuing Bank shall not permit any such extension if (A) such Issuing Bank has determined that it would not
be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of Section 2.01(c)(i), or otherwise), or (B) it has received
notice (which may be by telephone or in writing) on or before the day that is five Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or
(2) from the Administrative Agent or any Lender that one or more of the applicable conditions specified in Section 3.02 is not then satisfied, and in each such case directing such Issuing Bank not to permit such extension.

 (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, such Issuing Bank will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment thereof. 
  

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 Monongahela Power Company Credit Agreement 

 (b) Drawings and Reimbursements; Funding of Participations. (i) Upon receipt
from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the Issuing Bank shall notify the Administrative Agent and the Borrower thereof. Not later than 11:00 a.m. (New York City time) on the date of any
payment by such Issuing Bank under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse such Issuing Bank through the Administrative Agent in an amount equal to the amount of such drawing. If the
Borrower fails to so reimburse such Issuing Bank by such time, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount
of such Lender’s Pro Rata Share thereof. In such event, the Borrower shall be deemed to have requested a Borrowing of Base Rate Advances to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the
minimum and multiples specified in Section 2.01 for the principal amount of Base Rate Advances, but subject to the other conditions set forth in Section 2.01 and the conditions set forth in Section 3.02 (other
than the delivery of a Notice of Borrowing). Any notice given by such Issuing Bank or the Administrative Agent pursuant to this Section 2.03(b) may be given by telephone if immediately confirmed in writing; provided that the lack
of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (ii) Each Lender
(including the Lender acting as Issuing Bank) shall upon any notice pursuant to Section 2.03(b)(i) make funds available to the Administrative Agent for the account of such Issuing Bank at the Administrative Agent’s Account in an
amount equal to its Pro Rata Share of the Unreimbursed Amount not later than 1:00 p.m. (New York City time) on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of
Section 2.03(b)(iii), each Lender that so makes funds available shall be deemed to have made a Base Rate Advance to the Borrower in such amount. The Administrative Agent shall remit the funds so received to such Issuing Bank. 

(iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base Rate Advances because the conditions
set forth in Section 3.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the Issuing Bank an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C
Borrowing shall be due and payable on demand (together with interest) and shall bear interest at a rate equal to the sum of (A) the Base Rate in effect from time to time, plus (B) the Applicable Margin in effect from time to time,
plus (C) 2% per annum. In such event, each Lender’s payment to the Administrative Agent for the account of such Issuing Bank pursuant to Section 2.03(b)(ii) shall be deemed payment in respect of its
participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.03. 
 (iv) Until each Lender funds its Advance or L/C Advance pursuant to this Section 2.03(b) to reimburse such Issuing Bank for any
amount drawn under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such drawing shall be solely for the account of such Issuing Bank. 
  

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 Monongahela Power Company Credit Agreement 

 (v) Each Lender’s obligation to make Advances or L/C Advances to reimburse any Issuing
Bank for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(b), shall be irrevocable, absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim,
recoupment, defense or other right which such Lender may have against the Issuing Bank, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or
condition, whether or not similar to any of the foregoing. No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse any Issuing Bank for the amount of any payment made by the Issuing Bank under
any Letter of Credit, together with interest as provided herein. 
 (vi) If any Lender fails to make available to the
Administrative Agent for the account of any Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(b) by the time specified in Section 2.03(b)(ii), such Issuing
Bank shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately
available to such Issuing Bank at a rate per annum equal to the Federal Funds Rate from time to time in effect. A certificate of such Issuing Bank submitted to any Lender (through the Administrative Agent) with respect to any amounts owing
under this Section 2.03(b)(vi) shall be conclusive absent manifest error. 
 (c) Repayment of Participations.
(i) At any time after an Issuing Bank has made a payment under any Letter of Credit and has received from any Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(b), if the Administrative
Agent receives for the account of such Issuing Bank any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the
Administrative Agent), the Administrative Agent will distribute to such Lender its Pro Rata Share thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was
outstanding) in the same funds as those received by the Administrative Agent. 
 (ii) If any payment received by the
Administrative Agent for the account of an Issuing Bank pursuant to Section 2.03(b)(i) is required to be returned under any of the circumstances described in Section 2.12 (including pursuant to any settlement entered into by
such Issuing Bank in its discretion), each Lender shall pay to the Administrative Agent for the account of such Issuing Bank its Pro Rata Share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the
date such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. 
 (d) Role of Issuing Bank. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, each Issuing Bank shall not have any responsibility to obtain any document (other than any sight draft, certificates
and documents expressly required by any Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the Issuing Bank, the
Administrative Agent nor any of the respective correspondents, participants or assignees of such Issuing Bank shall be liable to any Lender for (i) any action taken or omitted in 
  

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 Monongahela Power Company Credit Agreement 

 
connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful
misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Letter of Credit Application. The Borrower hereby assumes all risks of the acts or omissions of
any beneficiary or transferee with respect to any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Borrower from pursuing such rights and remedies as it may have against the
beneficiary or transferee at law or under any other agreement. None of the Issuing Bank, the Administrative Agent, nor any of the respective correspondents, participants or assignees of such Issuing Bank shall be liable or responsible for any of the
matters described in clauses (i) through (v) of Section 2.03(j); provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against an Issuing Bank, and such
Issuing Bank may be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by such Issuing Bank’s willful
misconduct or gross negligence or such Issuing Bank’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a
Letter of Credit. In furtherance and not in limitation of the foregoing, an Issuing Bank may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the
contrary, and such Issuing Bank shall not be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in
whole or in part, which may prove to be invalid or ineffective for any reason. 
 (e) Cash Collateral. (i) Upon the
occurrence and during the continuance of any Event of Default, at the request of the Administrative Agent, (A) if an Issuing Bank has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C
Borrowing, or (B) if, as of the Letter of Credit Expiration Date (or, if the expiry date of such Letter of Credit is after the Letter of Credit Expiration Date (as may be agreed by the Lenders in accordance with Section 2.01(c)(i)),
as of such later expiry date), any Letter of Credit for any reason remains outstanding and partially or wholly undrawn, the Borrower shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such
Outstanding Amount determined as of the date of such L/C Borrowing or the Letter of Credit Expiration Date (or such later date as may be agreed by the Lenders in accordance with Section 2.01(c)(i)), as the case may be). 
 (ii) At the request of the Administrative Agent (the Administrative Agent hereby agreeing to make such request upon a request
from any Issuing Bank), if (A) there is at any time a Defaulting Lender, and (B) (I) one or more Letters of Credit are then outstanding or (II) an Issuing Bank has honored any full or partial drawing request under any Letter of Credit
and such drawing has resulted in an L/C Borrowing that is then outstanding, then, in any such case, the Borrower shall immediately (x) repay to each Issuing Bank such Defaulting Lender’s Pro Rata Share of such L/C Borrowing, together with
accrued interest thereon through the date of such repayment and (y) Cash Collateralize such Defaulting Lender’s Pro Rata Share of the aggregate undrawn amount of all outstanding Letters of Credit. 
  

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 Monongahela Power Company Credit Agreement 

 (iii) The Borrower hereby grants to the Administrative Agent, for the
benefit of each Issuing Bank and the Lenders, a security interest in all such cash, deposit accounts and all balances held in the Cash Collateral Account and all proceeds of the foregoing. Upon the drawing of any Letter of Credit for which funds are
on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under Applicable Law, to reimburse each Issuing Bank. 
 (f) Applicability of ISP and UCP. Unless otherwise expressly agreed by an Issuing Bank and the Borrower upon issuing an L/C Credit Extension, (i) the rules of the ISP shall apply to each
Standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each Trade Letter of Credit.

 (g) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer
Document, the terms hereof shall control. 
 (h) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter
of Credit issued or outstanding hereunder is in support of any Obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Letter of Credit. The
Borrower hereby acknowledges that the L/C Credit Extensions for the account of Subsidiaries inure to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.

 (i) Letter of Credit Reports. Each Issuing Bank shall furnish (A) to the Administrative Agent on the first
Business Day of each month a written report summarizing issuance and expiration dates of L/C Credit Extensions issued during the preceding month and drawings during such month under each Letter of Credit and (B) to the Administrative Agent and
each Lender on the first Business Day of each calendar quarter a written report setting forth the average daily aggregate L/C Obligations during the preceding calendar quarter of all Letters of Credit. 
 (j) Obligations Absolute. The obligation of the Borrower to reimburse each Issuing Bank for each drawing under each Letter of Credit
and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 
 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement or any other Financing Document;

 (ii) the existence of any claim, counterclaim, setoff, defense or other right that the Borrower or any
Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), such Issuing Bank or any other Person, whether in connection with
this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 
  

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 Monongahela Power Company Credit Agreement 

 (iii) any draft, demand, certificate or other document presented under such
Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to
make a drawing under such Letter of Credit; 
 (iv) any payment by such Issuing Bank under such Letter of Credit
against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit (so long as such draft or certificate substantially complies with such terms); or any payment made by such Issuing Bank under such
Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of
Credit; or 
 (v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing,
including any other circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower. 
 The
Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it pursuant to Section 2.03(a)(iv) and, in the event of any claim of noncompliance with the Borrower’s instructions or
other irregularity, the Borrower will immediately notify the Issuing Bank. The Borrower shall be conclusively deemed to have waived any such claim against the Issuing Bank and its correspondents unless such notice is given as aforesaid. 

(k) Liability. The Borrower assumes all risks of the acts or omissions of any beneficiary or transferee of any Letter of Credit
with respect to its use of such Letter of Credit. Neither any Issuing Bank, any of its Affiliates, nor any of its respective officers, directors, agents, employees, attorneys and advisors shall be liable or responsible for: (i) the use that may
be made of any Letter of Credit or any acts or omissions of any beneficiary or transferee in connection therewith; (ii) the validity, sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents should prove to
be in any or all respects invalid, insufficient, fraudulent or forged; (iii) payment by such Issuing Bank against presentation of documents that do not comply with the terms of any Letter of Credit, including failure of any documents to bear
any reference or adequate reference to any Letter of Credit; or (iv) any other circumstances whatsoever in making or failing to make payment under any Letter of Credit, except that the Borrower shall have a claim against such Issuing Bank, and
such Issuing Bank shall be liable to the Borrower, to the extent of any direct, but not consequential, damages suffered by the Borrower that the Borrower proves were primarily caused by (A) such Issuing Bank’s willful misconduct or gross
negligence as determined in a final, non-appealable judgment by a court of competent jurisdiction in determining whether documents presented under any Letter of Credit comply with the terms thereof or (B) such Issuing Bank’s willful
failure to make lawful payment under any Letter of Credit after the presentation to it of a draft and certificates strictly complying with the terms and conditions of any Letter of Credit. In furtherance and not in limitation of the foregoing, such
Issuing Bank may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary. 
  

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 Monongahela Power Company Credit Agreement 

 SECTION 2.04. Repayment of Advances. The Borrower shall repay to the Administrative
Agent for the ratable account of the Lenders on the Final Maturity Date the aggregate principal amount of all Advances which are then outstanding. 
 SECTION 2.05. Termination or Reduction of the Commitments. (a) Optional. The Borrower may, upon at least three Business Days’ notice to the Administrative Agent, terminate in whole
or reduce in part the Unused Commitments; provided that (i) each partial reduction shall be in an aggregate amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) each partial reduction shall be made
ratably among the Lenders in accordance with their respective Commitments. 
 (b) Termination. The Commitments shall
terminate on the earlier to occur of (A) 5:00 p.m. (New York City time) on the Final Maturity Date, (B) the termination in full of the Commitments pursuant to Section 2.05(a), or (C) the termination of the Commitments in
accordance with Section 6.01. 
 (c) Termination of Defaulting Lender Commitment. Notwithstanding anything to
the contrary in this Agreement, the Borrower may, upon at least five days’ notice to a Defaulting Lender (with a copy to the Administrative Agent), irrevocably terminate in whole the Unused Commitment of such Lender. Such termination shall be
effective, with respect to such Lender’s Unused Commitment, on the date set forth in such notice, provided, however, that such date shall be no earlier than five days after receipt of such notice. Upon termination of a Lender’s
Commitment under this Section 2.05(c), the Borrower shall (x) repay to each Issuing Bank such Defaulting Lender’s Pro Rata Share of all L/C Borrowings then outstanding, together with accrued interest thereon through the date of
such repayment, (y) Cash Collateralize such Defaulting Lender’s Pro Rata Share of the aggregate undrawn amount of all outstanding Letters of Credit, and (z) pay or cause to be paid all accrued facility fees or Letter of Credit fees
payable to such Lender and all other amounts due and payable to such Lender hereunder; and, if such Lender is an Issuing Bank, the Borrower shall pay to the Administrative Agent for deposit an amount equal to the available amount of all Letters of
Credit issued by such Issuing Bank, and upon such payments, the obligations of such Lender hereunder with respect to such Unused Commitment which have been terminated shall, by the provisions hereof, be released and discharged; provided,
however, that such Lender’s rights and obligations provided in Section 8.16 with respect to such Unused Commitment which have been terminated shall survive such release and discharge as to matters occurring prior to such date.

 SECTION 2.06. Prepayments. (a) Optional. The Borrower may, upon at least one Business Day’s notice in
the case of Base Rate Advances and three Business Days’ notice in the case of Eurodollar Rate Advances, in each case to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and if the notice is
given the Borrower shall, prepay the outstanding aggregate principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the aggregate principal
amount prepaid; provided that (i) each partial prepayment shall be in an aggregate principal amount of $2,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) if any prepayment of a Eurodollar Rate Advance is
made on a date other than the last day of an Interest Period for the Advance, the Borrower shall also pay any amounts owing pursuant to Section 8.04(d). 
  

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 Monongahela Power Company Credit Agreement 

 (b) Other Amounts. Concurrently with any prepayment of Advances under this
Section 2.06, the Borrower shall pay to the applicable Lender or Issuing Bank all accrued fees, costs and expenses, accrued interest thereon, if any, and any other amounts due under the Financing Documents in respect of the principal
amount of the Advances or L/C Borrowings so prepaid, including pursuant to Section 8.04(e). 
 SECTION 2.07.
Interest. (a) Scheduled Interest. The Borrower shall pay interest on the unpaid principal amount of each Advance owing to each Lender from the date of such Advance until such principal amount shall be paid in full, at the
following rates per annum: 
 (i) Base Rate Advances. During such periods as such Advance is a Base
Rate Advance, a rate per annum equal at all times to the sum of (A) the Base Rate in effect from time to time plus (B) the Applicable Margin in effect from time to time, payable in arrears each Quarterly Date during such
periods and on the date such Base Rate Advance shall be Converted or paid in full. 
 (ii) Eurodollar Rate
Advances. During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (A) the Eurodollar Rate for such Interest Period for such
Advance plus (B) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such
Interest Period every three months from the date of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full. 
 (b) Default Interest. Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay interest on (i) the unpaid and overdue principal amount of each Advance
owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such
Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by Applicable Law, the amount of any interest, fee or other amount payable by the Borrower hereunder that is not paid when due, from the date such
amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum
required to be paid, in the case of interest, on the Type of Advance on which such interest has accrued pursuant to clause (a)(i) or (a)(ii) above and, in all other cases, on Base Rate Advances pursuant to clause (a)(i) above. 
 (c) Notice of Interest Period and Interest Rate. Promptly after receipt of a Notice of Borrowing pursuant to
Section 2.02(a), a Notice of Conversion/Continuation pursuant to Section 2.11(a)(ii) or a notice of selection of an Interest Period pursuant to the terms of the definition of “Interest Period”, in each case
from the Borrower, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  

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 Monongahela Power Company Credit Agreement 

 SECTION 2.08. Fees. (a) Commitment Fee. The Borrower shall pay to the
Administrative Agent for the account of the Lenders a commitment fee from the date hereof, in the case of each Initial Lender, and from the effective date specified in either a joinder agreement pursuant to Section 2.16 or the Assignment
and Acceptance pursuant to which it became a Lender in the case of each other Lender, until the Final Maturity Date, commencing on the Closing Date, and payable quarterly in arrears on the first Business Day after the end of each Quarterly Date and
on the Final Maturity Date, at the Commitment Fee Rate on the average daily Unused Commitment of such Lender during such fiscal quarter; provided, however, that no commitment fee shall accrue on the Unused Commitment of a Defaulting Lender
during any period that such Lender shall be a Defaulting Lender. 
 (b) Letter of Credit Fees. The Borrower shall pay to
the Administrative Agent for the account of each Lender in accordance with its Pro Rata Share a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Margin for Eurodollar Rate
Advances in effect from time to time multiplied by the daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit). Letter of Credit Fees shall be
(i) computed on a quarterly basis in arrears and (ii) due and payable on the first Business Day after the end of each Quarterly Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter
of Credit Expiration Date and thereafter on demand; provided, however, that no Letter of Credit Fee shall accrue on the Pro Rata Share of a Letter of Credit of a Defaulting Lender during any period that such Lender shall be a Defaulting
Lender. Notwithstanding anything to the contrary contained herein, upon the request of the Required Lenders, while any payment-related Default exists, all Letter of Credit Fees shall accrue at the Applicable Margin for Eurodollar Rate
Advances plus 2%. 
 (c) Fronting Fee and Documentary and Processing Charges Payable to Issuing Banks, Etc. The
Borrower shall pay directly to the relevant Issuing Bank for its own account a fronting fee with respect to each Letter of Credit issued hereunder in the amount to be agreed between the Borrower and the applicable Issuing Bank of the L/C Obligations
(whether or not such maximum amount is then in effect under such Letter of Credit) (the “Fronting Fee”). The Fronting Fee shall be computed on a quarterly basis in arrears and shall be due and payable on each Quarterly Date,
commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. In addition, the Borrower shall, with respect to all Letters of Credit issued at its request,
pay directly to each Issuing Bank for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such Issuing Bank relating to letters of credit as from time to time in effect.
Such customary fees and standard costs and charges are due and payable on demand and are nonrefundable. 
 (d) The
Administrative Agent’s Fees. The Borrower shall pay to the Administrative Agent for its own account such fees as may from time to time be agreed between the Borrower and such Administrative Agent. 
 SECTION 2.09. Payments Generally; Pro Rata Treatment. (a) The Borrower shall make each payment hereunder, under the Notes and
under any Financing Document owing to any Lender Party, in full, and without condition or deduction for any counterclaim, defense, 
  

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 Monongahela Power Company Credit Agreement 

 
recoupment or setoff, not later than 2:00 p.m. (New York City time) on the day when due in Dollars to the Administrative Agent at the Administrative Agent’s Account in immediately available
funds, with payments being received by the Administrative Agent after such time being deemed to have been received on the next succeeding Business Day. The Administrative Agent will promptly thereafter cause like funds to be distributed (i) if
the payment by (or for the account of) the Borrower is in respect of principal, interest, commitment fees or any other Obligation then payable hereunder and under the Notes to more than one Lender Party, to such Lender Parties for the account of
their respective Applicable Lending Offices ratably in accordance with the amounts of such respective Obligations then payable to such Lender Parties and (ii) if such payment is in respect of any Obligation then payable hereunder to one Lender
Party, to such Lender Party for the account of its Applicable Lending Office, in each case to be applied in accordance with the terms of this Agreement; provided, that with respect to any optional or mandatory prepayment, if any Lender is a
Defaulting Lender at the time of any such prepayment, such prepayment of the Advances shall, if the Administrative Agent so directs at the time of making such prepayment, be applied to the Advances of other Lenders as if such Defaulting Lender had
no Advances outstanding and the outstanding Advances of such Defaulting Lender were zero until such time as the proportion (expressed as a fraction) of the principal amount outstanding of all Advances owed to each Lender (including Defaulting
Lenders) is equal to the Pro Rata Share of such Lender. Upon its acceptance of an Assignment and Acceptance and recording of the information contained therein in the Register pursuant to Section 8.07(e), from and after the effective date
of such Assignment and Acceptance, the Administrative Agent shall make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender Party assignee thereunder, and the parties to such Assignment and Acceptance
shall make all appropriate adjustments in such payments for periods prior to such effective date directly between themselves. 
 (b) All payments under this Agreement and the other Financing Documents to the Administrative Agent (whether for its own account or for the account of any Lender Party) shall be made to such Administrative Agent. 
 (c) The Borrower hereby authorizes each Lender Party and each of its Affiliates, if and to the extent payment owed to such Lender Party by
the Borrower is not made when due hereunder or, in the case of a Lender, under its Note or Notes, to charge from time to time, to the fullest extent permitted by law, against any or all of the Borrower’s accounts with such Lender Party or such
Affiliate any amount so due. 
 (d) All computations of interest and of fees shall be made by the Administrative Agent on the
basis of a year of 360 days, except that interest computed by reference to the Base Rate at times when the Base Rate is based on Scotia Capital’s prime rate, shall be computed on the basis of a year of 365 days (or 366 days in a leap year), in
each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest, fees or commissions are payable. Each determination by the Administrative Agent of an interest rate, fee or
commission hereunder shall be conclusive and binding for all purposes, absent manifest error. 
  

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 Monongahela Power Company Credit Agreement 

 (e) Whenever any payment hereunder or under the Notes shall be stated to be due on a day
other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or commitment fee, as the case may be; provided
that, if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day. 
 (f) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to any Lender
Party hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance upon
such assumption, cause to be distributed to each such Lender Party on such due date an amount equal to the amount then due such Lender Party. If and to the extent the Borrower shall not have so made such payment in full to the Administrative Agent,
each such Lender Party shall repay to the Administrative Agent forthwith on demand such amount distributed to such Lender Party together with interest thereon, for each day from the date such amount is distributed to such Lender Party until the date
such Lender Party repays such amount to the Administrative Agent, at the Federal Funds Rate. 
 (g) If the Administrative Agent
receives funds for application to the Obligations under the Financing Documents under circumstances for which the Financing Documents do not specify the Advances or the Facility to which, or the manner in which, such funds are to be applied, the
Administrative Agent may, but shall not be obligated to, elect to distribute such funds to each Lender Party ratably in accordance with such Lender Party’s proportionate share of the principal amount of all outstanding Advances and the L/C
Obligations then outstanding, in repayment or prepayment of such of the outstanding Advances or other Obligations owed to such Lender Party, and for application to such principal installments, as the Administrative Agent shall direct;
provided that the Borrower shall not be liable to any Lender Party with respect to any such distribution by the Administrative Agent. 
 (h) If any Lender Party shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise), other than pursuant to Section 2.10, 2.12
or 2.13, as a result of an assignment pursuant to Section 8.07, as a result of the payment of an Amendment Fee which has been offered to or is available to all Lender Parties on the same terms or payments made pursuant to
Section 2.08(a), 2.08(b) or 2.09(a) during any period that any Lender shall be a Defaulting Lender, (a) on account of Obligations due and payable to such Lender Party hereunder and under the Notes at such time in
excess of its ratable share (according to the proportion of (i) the amount of such Obligations due and payable to such Lender Party at such time to (ii) the aggregate amount of the Obligations due and payable to all Lender Parties
hereunder and under the Notes at such time) of payments on account of the Obligations due and payable to all Lender Parties hereunder and under the Notes at such time obtained by all the Lender Parties at such time or (b) on account of
Obligations owing (but not due and payable) to such Lender Party hereunder and under the Notes at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing to such Lender Party at such
time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to all Lender Parties hereunder and under the Notes at such time) of payments on account of the Obligations owing (but not due and payable) to all Lender
Parties hereunder and under the Notes at such time obtained by all of the Lender Parties at such time, such Lender

  

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 Monongahela Power Company Credit Agreement 

 
Party shall forthwith purchase from the other Lender Parties such interests or participating interests in the Obligations due and payable or owing to them, as the case may be, as shall be
necessary to cause such purchasing Lender Party to share the excess payment ratably with each of them; provided that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender Party, such purchase from
each other Lender Party shall be rescinded and such other Lender Party shall repay to the purchasing Lender Party the purchase price to the extent of such Lender Party’s ratable share (according to the proportion of (i) the purchase price
paid to such Lender Party to (ii) the aggregate purchase price paid to all Lender Parties) of such recovery together with an amount equal to such Lender Party’s ratable share (according to the proportion of (i) the amount of such
other Lender Party’s required repayment to (ii) the total amount so recovered from the purchasing Lender Party) of any interest or other amount paid or payable by the purchasing Lender Party in respect of the total amount so recovered. The
Borrower agrees that any Lender Party so purchasing an interest or participating interest from another Lender Party pursuant to this Section 2.09 may, to the fullest extent permitted by Applicable Law, exercise all its rights of payment
(including the right of set-off) with respect to such interest or participating interest, as the case may be, as fully as if such Lender Party were the direct creditor of the Borrower in the amount of such interest or participating interest, as the
case may be. 
 SECTION 2.10. Illegality. Notwithstanding any other provision of this Agreement, if the introduction of
or any change in or in the interpretation of any law or regulation shall make it unlawful, or any central bank or other Governmental Authority shall assert that it is unlawful, for any Lender or its Eurodollar Lending Office to perform its
obligations hereunder to make Eurodollar Rate Advances or to continue to fund or maintain Eurodollar Rate Advances hereunder, then, on notice thereof and demand therefor by such Lender to the Borrower through the Administrative Agent, (i) each
Eurodollar Rate Advance will automatically, upon such demand, Convert into a Base Rate Advance and (ii) the obligation of such Lender to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the Administrative
Agent shall notify the Borrower that such Lender has determined that the circumstances causing such suspension no longer exist; provided that, before making any such demand, such Lender agrees to use reasonable efforts (consistent with its
internal policy and legal and regulatory restrictions) to designate a different Eurodollar Lending Office if the making of such a designation would allow such Lender or its Eurodollar Lending Office to continue to perform its obligations to make
Eurodollar Rate Advances or to continue to fund or maintain Eurodollar Rate Advances and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. 
 SECTION 2.11. Interest Elections. (a) Optional. (i) The Borrower may on any Business Day elect to Convert all or any
portion of the Advances comprising the same Borrowing from one Type into Advances of the other Type, and in the case of Eurodollar Rate Advances, may elect Interest Periods therefor, all as provided in this Section 2.11. The Borrower may
elect different options with respect to different portions of any Borrowing, in which case each such portion shall be allocated ratably among the Lenders in accordance with their Commitments. At no time shall the total number of different Interest
Periods for all Eurodollar Rate Advances outstanding exceed ten. 
  

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 Monongahela Power Company Credit Agreement 

 (ii) To make an election pursuant to this Section 2.11(a), the Borrower shall
give the Administrative Agent prior written notice (or telephonic notice promptly confirmed in writing) by telecopier or electronic mail (a “Notice of Conversion/Continuation”) of the Conversion or Continuation, as the case
may be, (i) by 11:00 a.m. (New York City time) on the requested date of a Conversion into Base Rate Advances and (ii) by 2:00 p.m. (New York City time) three Business Days prior to a Continuation of or Conversion into Eurodollar Rate
Advances; provided, however, that any Conversion of Eurodollar Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Eurodollar Rate Advances, any Conversion of Base Rate Advances into
Eurodollar Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b), no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b) and
each Conversion of Advances comprising part of the same Borrowing shall be made ratably among the Lenders in accordance with their Commitments. Each such Notice of Conversion/Continuation shall be irrevocable and shall specify (A) if different
options are being elected with respect to different portions of the relevant Borrowing, the portions thereof that are to be allocated to each resulting election (in which case the information to be specified pursuant to clauses (C) and
(D) shall be specified for each resulting portion); (B) the effective date of the election made pursuant to such Notice of Conversion/Continuation, which shall be a Business Day; (C) whether the resulting Borrowings are to be
comprised of Base Rate Advances or Eurodollar Rate Advances; and (D) if the resulting Borrowings are to be comprised of Eurodollar Rate Advances, the Interest Period applicable thereto after giving effect to such election, which shall be a
period contemplated by the definition of “Interest Period”. If any such Notice of Conversion/Continuation requests that the relevant Borrowing be comprised of Eurodollar Rate Advances but does not specify an Interest Period, the
Borrower shall be deemed to have selected an Interest Period of one month. Each Notice of Conversion/Continuation shall be irrevocable and binding on the Borrower. 
 (iii) If, on the expiration of any Interest Period in respect of any Eurodollar Rate Advances, the Borrower shall have failed to deliver a Notice of Conversion/Continuation, then, unless such Advances are
repaid as provided herein, the Borrower shall be deemed to have elected to Convert such Advances to Base Rate Advances. No Advances may be Converted into, or Continued as, Eurodollar Rate Advances if an Event of Default has occurred and is
continuing, unless the Administrative Agent and the Required Lenders shall have otherwise consented in writing. 
 (iv) Upon
receipt of any Notice of Conversion/Continuation, the Administrative Agent shall promptly notify each Lender of the details thereof and of such Lender’s ratable share of each election. 
 (b) Mandatory. (i) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances comprising any
Borrowing shall be reduced, by payment or prepayment or otherwise, to less than $2,000,000, such Advances shall automatically Convert into Base Rate Advances. 
 (ii) If the Borrower shall fail to select the duration of any Interest Period for any Eurodollar Rate Advances to be made to it in accordance with the provisions contained in the definition of
“Interest Period” in Section 1.01, the Administrative Agent shall forthwith so notify the Borrower and the Lenders, whereupon each such Eurodollar Rate Advance shall automatically, on the last day of the then existing
Interest Period therefor, Convert into a Base Rate Advance. 
  

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 Monongahela Power Company Credit Agreement 

 (iii) Upon the occurrence and during the continuance of any Event of Default, (A) each
Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance and (B) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances
shall be suspended. 
 SECTION 2.12. Increased Costs, Etc. (a) If, due to either (i) the introduction of or any
change (other than any change by way of imposition or increase of reserve requirements included in the Eurodollar Rate Reserve Percentage) in or in the interpretation of any law or regulation or (ii) the compliance with any guideline or request
from any central bank or other Governmental Authority (whether or not having the force of law), there shall be any increase in the cost to any Lender Party of agreeing to make or of making, funding or maintaining Eurodollar Rate Advances or of
agreeing to maintain or participate in the L/C Credit Extensions or of agreeing to make or of making or funding or maintaining L/C Credit Extensions (excluding, for purposes of this Section 2.12, any such increased costs resulting from
(A) Taxes or Other Taxes (as to which Section 2.13 shall govern) and (B) changes in the basis of taxation of overall net income or overall gross income by the United States or by the foreign jurisdiction or state under the laws
of which such Lender Party is organized or has its Applicable Lending Office or any political subdivision thereof), then the Borrower shall from time to time, upon demand by such Lender Party (with a copy of such demand to the Administrative Agent),
pay to the Administrative Agent for the account of such Lender Party additional amounts sufficient to compensate such Lender Party for such increased cost; provided, however, that a Lender Party claiming additional amounts under this
Section 2.12(a) agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate a different Applicable Lending Office if the making of such a designation would avoid the need for,
or reduce the amount of, such increased cost that may thereafter accrue and would not, in the reasonable judgment of such Lender Party, be otherwise disadvantageous to such Lender Party. A certificate as to the amount of such increased cost,
submitted to the Borrower by such Lender Party, shall be conclusive and binding for all purposes, absent manifest error. 
 (b)
If any Lender Party determines that compliance with any law or regulation or any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law) affects or would affect the amount of capital
required or expected to be maintained by such Lender Party or any corporation controlling such Lender Party and that the amount of such capital is increased by or based upon the existence of such Lender Party’s commitment to lend or to
participate in the making of L/C Credit Extensions hereunder and other commitments of such type or the maintenance of or participation in the L/C Credit Extensions (or similar contingent obligations), then, upon demand by such Lender Party or such
corporation (with a copy of such demand to the Administrative Agent), the Borrower shall pay to the Administrative Agent for the account of such Lender Party, from time to time as specified by such Lender Party, additional amounts sufficient to
compensate such Lender Party in the light of such circumstances, to the extent that such Lender Party reasonably determines such increase in capital to be allocable to the existence of such Lender Party’s commitment to lend or to participate in
the L/C Credit Extensions or to the issuance or maintenance of or participation in L/C Credit Extensions. A certificate as to such amounts submitted to the Borrower by such Lender Party shall be conclusive and binding for all purposes, absent
manifest error. 
  

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 Monongahela Power Company Credit Agreement 

 (c) If, with respect to any Eurodollar Rate Advances, the Required Lenders notify the
Administrative Agent that the Eurodollar Rate for any Interest Period for such Advances will not adequately reflect the cost to such Lenders of making, funding or maintaining their Eurodollar Rate Advances for such Interest Period, the
Administrative Agent shall forthwith so notify the Borrower and the Lenders, whereupon (i) each such Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance and
(ii) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the Administrative Agent shall notify the Borrower that such Required Lenders have determined that the circumstances
causing such suspension no longer exist. 
 SECTION 2.13. Taxes. (a) Any and all payments by the Borrower hereunder
or under the Notes shall be made, in accordance with Section 2.09, free and clear of and without deduction for any and all present or future withholding taxes, including levies, imposts, deductions, charges or withholdings, and all
liabilities with respect thereto, excluding, in the case of each Lender Party and the Administrative Agent, (i) taxes imposed on (or measured by) its overall net income, or any franchise taxes or similar taxes imposed for the privilege
of carrying on a business in corporate form (other than taxes imposed as a result of entering into this Agreement or any other Financing Document and the transactions contemplated hereby or thereby), or taxes measured by its net worth or
shareholder’s capital, by the United States, or by the jurisdiction under the laws of which such recipient is organized or in which its Applicable Lending Office is located, (ii) any branch profits taxes imposed by the United States or any
similar tax imposed by any other jurisdiction in which the Applicable Lending Office of any Lender Party is located and (iii) withholding taxes excluded pursuant to clause (e) of this Section 2.13 (all such non-excluded taxes,
including levies, imposts, deductions, charges, withholdings and liabilities in respect of payments hereunder or under the Notes being hereinafter referred to as “Covered Taxes”). If the Borrower shall be required by law to
deduct any Covered Taxes from or in respect of any sum payable hereunder or under any Note to any Lender Party or the Administrative Agent, (A) the sum payable by the Borrower shall be increased as may be necessary so that after the Borrower
and the Administrative Agent have made all required deductions (including deductions applicable to additional sums payable under this Section 2.13) such Lender Party or the Administrative Agent, as the case may be, receives an amount
equal to the sum it would have received had no such deductions been made, (B) the Borrower shall make all such deductions and (C) the Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in
accordance with Applicable Law. 
 (b) In addition, the Borrower shall pay any present or future stamp, documentary, excise,
property, intangible, mortgage recording or similar taxes, charges or levies that arise from any payment made hereunder or under the Notes or from the execution, delivery or registration of, performance under, or otherwise with respect to, this
Agreement or any other Financing Document, but excluding all other U.S. federal taxes other than withholding taxes (hereinafter referred to as “Other Taxes”). If revised disclosure regulations under Section 6011 of the
Code are issued which modify the definition of a “reportable transaction” so that it does not include a transaction where the issuer of a debt instrument provides an indemnity for taxes,

  

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 Monongahela Power Company Credit Agreement 

 
in addition to withholding taxes imposed on interest paid on the debt instrument, for purposes of subsections (a) and (b) of this Section 2.13, the terms “Covered
Taxes” and “Other Taxes” shall include all such taxes (other than any taxes described in clauses (i), (ii) and (iii) of Section 2.13(a) above), whether or not collected by way of withholding.

 (c) The Borrower shall indemnify each Lender Party and the Administrative Agent for and hold them harmless against the full
amount of Covered Taxes and Other Taxes, and for the full amount of taxes of any kind imposed by any jurisdiction on amounts payable under this Section 2.13, imposed on or paid by such Lender Party or the Administrative Agent (as the
case may be) and any liability (including penalties, additions to tax, interest and reasonable expenses) arising therefrom or with respect thereto. This indemnification shall be made within 30 days from the date such Lender Party or the
Administrative Agent (as the case may be) makes written demand therefor. 
 (d) As soon as practicable (but in no event later
than 90 days) after the date of any payment of Covered Taxes, the Borrower shall furnish to the Administrative Agent, at its address referred to in Section 8.02, the original or a certified copy of a receipt evidencing such payment.
Excluding payments made by the Administrative Agent, in the case of any payment hereunder or under the Notes by or on behalf of the Borrower through an account or branch outside the United States or by or on behalf of the Borrower by a payor that is
not a United States person, if the Borrower determines that no Covered Taxes are payable in respect thereof, the Borrower shall furnish, or shall cause such payor to furnish, to the Administrative Agent, at such address, an opinion of counsel
acceptable to the Administrative Agent stating that such payment is exempt from Covered Taxes. For purposes of subsections (d) and (e) of this Section 2.13, the terms “United States” and
“United States person” shall have the meanings specified in Section 7701 of the Code. 
 (e) Each
Lender Party organized under the laws of a jurisdiction outside the United States shall, on or prior to the date of its execution and delivery of this Agreement in the case of each Initial Lender Party and on the date of the Assignment and
Acceptance pursuant to which it becomes a Lender Party in the case of each other Lender Party, and from time to time thereafter as requested in writing by the Borrower (but only so long thereafter as such Lender Party remains lawfully able to do
so), provide each of the Administrative Agent and the Borrower with two duly completed copies of (i) Internal Revenue Service Form W-8ECI, or any successor form thereto, certifying that the payments received from the Borrower hereunder are
effectively connected with such Lender Party’s conduct of a trade or business in the United States; or (ii) Internal Revenue Service Form W-8BEN, or any successor form thereto, certifying that such Lender Party is entitled to benefits
under an income tax treaty to which the United States is a party which reduces the rate of withholding tax on payments of interest; or (iii) Internal Revenue Service Form W-8BEN or any successor form thereto, together with a certificate stating
that (1) the Lender Party is not a bank for purposes of Code Section 881(c)(3)(A), or the obligation of the Borrower hereunder is not, with respect to such Lender Party, pursuant to a loan agreement entered into in the ordinary course of
its trade or business, within the meaning of that Section; (2) the Lender Party is not a 10% shareholder of the Borrower within the meaning of Code Section 871(h)(3) or 881(c)(3)(B); and (3) the Lender Party is not a controlled
foreign corporation that is related to the Borrower within the meaning of Code Section 881(c)(3)(C); or (iv) such other governmental forms as may be applicable to the

  

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 Monongahela Power Company Credit Agreement 

 
Lender Party, including Forms W-8IMY or W-8EXP, which will reduce the rate of withholding tax on payments of interest. Each Lender Party organized under the laws of the United States that is not
a corporation shall, on or prior to the date of its execution and delivery of this Agreement in the case of each Initial Lender Party and on the date of the Assignment and Acceptance pursuant to which it becomes a Lender Party in the case of each
other Lender Party, and from time to time as requested in writing by the Borrower, provide each of the Administrative Agent and the Borrower with two duly completed copies of Internal Revenue Service Form W-9. Each Lender Party shall deliver such
forms promptly upon the obsolescence or invalidity of any form previously delivered by such Lender Party (but only to the extent such Lender Party is lawfully able to do so). Each such Lender Party shall promptly notify the Borrower at any time that
it determines that it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the Internal Revenue Service for such purpose). If the forms provided by a Lender Party
at the time such Lender Party first becomes a party to this Agreement indicate a United States interest withholding tax rate in excess of zero, withholding tax at such rate shall be considered excluded from Covered Taxes unless and until such Lender
Party provides the appropriate forms certifying that a lesser rate applies, whereupon withholding tax at such lesser rate only shall be considered excluded from Covered Taxes for periods governed by such forms; provided, however, that if, at
the effective date of the Assignment and Acceptance pursuant to which a Lender Party becomes a party to this Agreement, the Lender Party assignor was entitled to payments under subsection (a) of this Section 2.13 in respect of
United States withholding tax with respect to interest paid at such date, then, to such extent, the term “Covered Taxes” shall include (in addition to withholding taxes that may be imposed in the future or other amounts otherwise
includable in Covered Taxes) United States withholding tax, if any, applicable with respect to the Lender Party assignee on such date. If any form or document referred to in this subsection (e) requires the disclosure of information, other than
information necessary to compute the tax payable and information required by the applicable Internal Revenue Service form (or related certificate described above), that the applicable Lender Party reasonably considers to be confidential, such Lender
Party shall give notice thereof to the Borrower and shall not be obligated to include in such form or document such confidential information. 
 (f) Notwithstanding the foregoing, for any period with respect to which a Lender Party has failed to provide the Borrower with the appropriate form described in subsection (e) above (other
than if such failure is due to a change in law occurring after the date on which a form originally was required to be provided or if such form otherwise is not required under subsection (e) above), such Lender Party shall not be entitled to
indemnification under subsection (a) or (c) of this Section 2.13 with respect to Covered Taxes imposed by the United States by reason of such failure; provided that should a Lender Party become subject to Covered Taxes
because of its failure to deliver a form required hereunder, the Borrower shall take such steps as such Lender Party shall reasonably request to assist such Lender Party to recover such Covered Taxes. 
 (g) Any Lender Party claiming any additional amounts payable pursuant to this Section 2.13 agrees to use reasonable efforts
(consistent with its internal policy and legal and regulatory restrictions) to change the jurisdiction of its Eurodollar Lending Office or Domestic Lending Office if the making of such a change would avoid the need for, or reduce the amount of, any
such additional amounts that may thereafter accrue and would not, in the reasonable judgment of such Lender Party, be otherwise disadvantageous to such Lender Party. 
  

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 Monongahela Power Company Credit Agreement 

 (h) If any Lender Party determines, in its sole discretion, that it has actually and finally
realized, by reason of a refund, deduction or credit of any Covered Taxes paid or reimbursed by the Borrower pursuant to subsection (a) or (c) above in respect of payments under the Financing Documents, a current monetary benefit that it
would otherwise not have obtained, and that would result in the total payments under this Section 2.13 exceeding the amount needed to make such Lender Party whole, such Lender Party shall pay to the Borrower, with reasonable promptness
following the date on which it actually realizes such benefit, an amount equal to the lesser of the amount of such benefit or the amount of such excess, in each case net of all out-of-pocket expenses in securing such refund, deduction or credit.

 SECTION 2.14. Evidence of Debt. (a) Each Lender Party shall maintain in accordance with its usual practice an
account or accounts evidencing the indebtedness of the Borrower to such Lender Party resulting from the Advances or L/C Credit Extensions and/or L/C Borrowings owing to such Lender Party from time to time, including the amounts of principal and
interest payable and paid to such Lender Party from time to time hereunder. The Borrower agrees that upon notice by any Lender Party to the Borrower (with a copy of such notice to the Administrative Agent) to the effect that a promissory note or
other evidence of indebtedness is required or appropriate in order for such Lender Party to evidence (whether for purposes of enforcement or otherwise) the Advances or L/C Borrowings owing to, or to be made by, such Lender Party, the Borrower shall
promptly execute and deliver to such Lender Party, with a copy to the Administrative Agent, a Note, in substantially the form of Exhibit A hereto, payable to the order of such Lender Party in a principal amount equal to the Advances and/or
L/C Borrowings owing to, or to be made by, such Lender Party. All references to Notes in the Financing Documents shall mean Notes, if any, issued hereunder. 
 (b) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Type thereof and the Interest Period, if any, applicable thereto,
(ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the
Lenders and each Lender’s share thereof. 
 (c) Entries made in good faith by the Administrative Agent in the accounts
maintained pursuant to subsection (b) above, and by each Lender Party in its account or accounts pursuant to subsection (a) above, shall be prima facie evidence of the amount of principal and interest due and payable or to become
due and payable from the Borrower to, in the case of the Register, each Lender Party and, in the case of such account or accounts, such Lender Party, under this Agreement, absent manifest error; provided, however, that the failure of
the Administrative Agent or such Lender Party to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrower under this Agreement.

 SECTION 2.15. Use of Proceeds. The proceeds of the Advances and issuances of any Letter of Credit shall be available
(and the Borrower agrees that it shall use proceeds of Advances made to it and each Letter of Credit issued at its request) solely for general corporate purposes. 
  

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 Monongahela Power Company Credit Agreement 

 SECTION 2.16. Request for Commitments. (a) Provided there exists no Default,
upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may, from time to time, request an increase in the Facility by an amount (for all such requests) not exceeding $65,000,000; provided that
(i) any such request for an increase shall be in a minimum amount of $10,000,000, and (ii) the Borrower may make a maximum of three such requests. At the time of sending such notice, the Borrower (in consultation with the Administrative
Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders). Each Lender shall notify the Administrative Agent
within such time period whether or not it agrees to increase its Commitment and, if so, whether in an amount equal to, greater than, or less than its Pro Rata Share of such requested increase. Any Lender not responding within such time period shall
be deemed to have declined to make any increase pursuant to this Section 2.16. The Administrative Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. Subject to the approval of
the Administrative Agent (which approval shall not be unreasonably withheld) and each Issuing Bank (in its sole discretion), the Borrower may invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and
substance satisfactory to the Administrative Agent and its counsel. 
 (b) If the Facility is increased in accordance with this
Section 2.16, the Administrative Agent and the Borrower shall determine the effective date (the “Commitment Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly
notify the Borrower and the Lenders of the final allocation of such increase and the Commitment Effective Date. As a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate dated as of the
Commitment Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of the Borrower (i) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such increase, and
(ii) certifying that: (A) before and after giving effect to such increase, the representations and warranties of the Borrower contained in Article IV of this Agreement and the other Financing Documents are true and correct on and as
of the Commitment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this
Section 2.16, the representations and warranties contained in Section 4.01(f) shall be deemed to refer to the most recent financial statements furnished pursuant to Section 5.04, (B) before and after giving
effect to such commitments, no Default exists, and (C) all Governmental Approvals necessary for the Borrower to so increase the Facility have been obtained, are in full force and effect. The Borrower shall prepay any Advances outstanding on the
Commitment Effective Date (and pay any additional amounts required pursuant to Section 8.04(d)) to the extent necessary to keep the outstanding Advances ratable with the revised Pro Rata Share arising from any nonratable increase in the
Commitment under this Section 2.16. 
 (c) This Section shall supersede any provisions in
Section 2.09(h) and 8.01 to the contrary. 
  

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 Monongahela Power Company Credit Agreement 

 ARTICLE III 
 CONDITIONS OF EFFECTIVENESS 
 SECTION 3.01.
Conditions Precedent to Closing Date. No Lender shall be required or obligated to make any Advance, and no Issuing Bank shall be required or obligated to make L/C Credit Extensions, in each case until the first Business Day (the
“Closing Date”) on which the following conditions precedent have been satisfied (or waived, as evidenced by an “effective date” notice to the Borrower from each Issuing Bank and the Administrative Agent), as
determined by each Lender and each such Issuing Bank (provided that if the Closing Date does not occur on or before January 15, 2010, the Commitments of the Lender Parties shall terminate on such date): 
 (a) The Administrative Agent’s receipt of the following, each of which shall be originals or facsimiles (followed promptly by
originals) (unless otherwise specified), each properly executed by a Responsible Officer of the Borrower, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form
and substance satisfactory to the Lender Parties (unless otherwise specified) and in sufficient copies for each Agent and the Borrower (unless otherwise specified): 
 (i) executed counterparts of this Agreement in sufficient number for the Administrative Agent, the Borrower and each Lender;

 (ii) to the extent requested, duly executed Notes of the Borrower for the account of each Lender that has so
requested complying with the provisions of Section 2.14; 
 (iii) certified copies of resolutions of
the board of directors of the Borrower approving the Transactions and the execution, delivery and performance of each Financing Document to which the Borrower is or is to be a party, and of all documents evidencing other necessary corporate action
with respect to the Transactions and each Financing Document to which the Borrower is or is to be a party; 
 (iv) copies of a certificate of the Secretary of State of Ohio, dated on or no earlier than 15 days before the Closing Date, certifying (A) as to a true and correct copy of the certificate of incorporation of the Borrower and each
amendment thereto on file in such Secretary’s office and (B) that (1) such amendments are the only amendments to such certificate on file in such Secretary’s office, (2) the Borrower has paid all franchise taxes to the date
of such certificate and (3) the Borrower is duly formed and in good standing or presently subsisting under the laws of the State of Ohio; 
 (v) copies of a certificate of the Secretary of State of each jurisdiction (other than the jurisdiction of its formation) set forth in Schedule 3.01(a) which shall be each jurisdiction where the
Borrower conducts a material portion of its business, on or no earlier than 30 days before the Closing Date, stating that the Borrower is duly qualified to do business and in good standing as a foreign corporation in such State and has filed all
annual reports required to be filed to the date of such certificate, as applicable; 
  

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 Monongahela Power Company Credit Agreement 

 (vi) a certificate signed on behalf of the Borrower by its secretary or any
assistant secretary (the statements made in which certificate shall be true on and as of the Closing Date), certifying (A) as to a true and correct copy of the Constituent Documents of the Borrower as of the Closing Date and each amendment to
its Constituent Documents, if any, from the date on which the resolutions referred to in Section 3.01(a)(iii) were adopted to the Closing Date, (B) the absence of any proceeding for the dissolution or liquidation of the Borrower,
and (C) the names and true signatures of the officers of the Borrower authorized to sign each Financing Document to which it is or is to be a party and the other documents to be delivered hereunder and thereunder; 
 (vii) forecasts prepared by management of the Borrower of balance sheets, income statements and cash flow statements of the
Borrower reasonably acceptable to the Administrative Agent on a consolidated basis for each fiscal year commencing with the fiscal year ending December 31, 2009 through the fiscal year ending December 31, 2012 to Lenders who agree to be
bound by confidentiality and non-disclosure agreements satisfactory to the Borrower; 
 (viii) legal opinions of
appropriate counsel for the Borrower, as to such matters as any Lender may reasonably request; 
 (ix) a
certificate signed by a Responsible Officer of the Borrower to the effect that the representations and warranties of the Borrower contained in Article IV and each other Financing Document are true and correct on and as of the Closing Date as
though made on and as of such date both immediately before and immediately after giving effect to the Initial Borrowing, if any; and 
 (x) audited Consolidated financial statements for the Borrower and its Subsidiaries for the fiscal year ending on December 31, 2008. 
 (b) All Governmental Approvals and third party consents and approvals necessary in connection with the Transactions shall have been obtained
and shall be in full force and effect, and the Administrative Agent shall have received evidence satisfactory to it that the foregoing have been accomplished. 
 (c) Except for Disclosed Matters as of the date hereof, since December 31, 2008, there shall not have occurred any Material Adverse Change. 
 (d) All Taxes (i) due and payable on or prior to the Closing Date in connection with the execution, delivery, filing, recording or
admissibility in evidence of the Financing Documents or to ensure the legality, validity, enforceability or admissibility in evidence of the Financing Documents and (ii) due and payable on or prior to the Closing Date by the Borrower or any of
its Subsidiaries in connection with the consummation of the transactions contemplated by, and the performance of, the Financing Documents shall, in the case of clauses (i) and (ii) of this Section 3.01(d), have been duly paid
in full. 
 (e) The Borrower shall have paid all accrued fees of the Administrative Agent, the Lender Parties and the Arranger
Parties and all accrued expenses of the Administrative Agent to the extent invoiced at least three Business Days prior to the Closing Date. 
  

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 SECTION 3.02. Conditions Precedent to Each Borrowing and L/C Credit Extension. The
obligation of each Lender to make an Advance (other than an L/C Advance made by an Issuing Bank or a Lender pursuant to Section 2.03(a)) on the occasion of each Borrowing (including the Initial Borrowing) to the Borrower, and the
obligation of the Issuing Bank to issue, amend to increase the principal amount thereof or extend any Letter of Credit (other than an extension pursuant to an Automatic Extension Letter of Credit in accordance with the original terms thereof), shall
be subject to the further conditions precedent that on the date of such Borrowing or L/C Credit Extension, the following statements shall be true (and each of (x) the giving of the applicable Notice of Borrowing and (y) the acceptance by
the Borrower of the proceeds of such Borrowing or Letter of Credit shall constitute a representation and warranty by the Borrower that both on the date of such notice and on the date of such Borrowing or issuance such statements are true):

 (a) the representations and warranties of the Borrower contained in Article IV (except, in the case of a Borrowing
other than the Initial Borrowing, clause (e), clause (f)(ii) and the final sentence in clause (f)(i) of Section 4.01) are true and correct on and as of such date, before and after giving effect to such Borrowing or L/C Credit Extension
and to the application of the proceeds therefrom, as though made on and as of such date (other than as to any such representations or warranties that, by their terms, refer to a specific date other than the date of the Borrowing or L/C Credit
Extension, in which case they shall be true and correct as of such specific date); 
 (b) no Default has occurred and is
continuing, or would result from such Borrowing or L/C Credit Extension or from the application of the proceeds therefrom; and 
 (c) in the case of any Advance or issuance of any Letter of Credit, in each case, made after the Closing Date, the Closing Date has occurred. 
 SECTION 3.03. Determinations Under Sections 3.01 and 3.02. For purposes of determining compliance with the conditions specified in Sections 3.01 and 3.02, each Lender Party shall be
deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to it unless an officer of the Administrative Agent
responsible for the transactions contemplated by the Financing Documents shall have received notice from such Lender Party prior to the date of the Borrowing or issuance of any Letter of Credit (as applicable) specifying its objection thereto and,
in the case of a Borrowing, such Lender Party shall not have made available to the Administrative Agent such Lender Party’s ratable portion of such Borrowing. 
  

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 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 4.01.
Representations and Warranties. The Borrower represents and warrants to each Lender Party and each Agent as of the date hereof, as of the Closing Date and as of the date of any Borrowing or issuance of an L/C Credit Extension, as follows:

 (a) The Borrower (i) is a corporation duly organized, validly existing and in good standing under the laws of the State
of Ohio and (ii) has all requisite corporate power and authority (including all Governmental Approvals) to carry on its business as now conducted, except, in the case of clause (ii) only, where the failure to so qualify or be so licensed,
or to have such power and authority, could not reasonably be expected to have a Material Adverse Effect. 
 (b) The execution,
delivery and performance by it of each Financing Document to which it is or is to be a party, and the consummation of the Transactions, are within its corporate powers, have been duly authorized by all necessary corporate action, and do not and will
not (i) contravene its Constituent Documents, (ii) violate any law, rule, regulation (including Regulation X of the Board of Governors of the Federal Reserve System), order, writ, judgment, injunction, decree, determination or award,
(iii) conflict with or result in the breach of, or constitute a default or require any payment to be made under, any material contract, loan agreement, indenture, mortgage, deed of trust, lease or other instrument binding on or affecting it or
any of its properties or (iv) except for the Liens created under this Agreement, result in or require the creation or imposition of any Lien upon or with respect to any of its Assets, except where, in the case of clauses (i) through (iv),
the violation of any such Constituent Documents, law, rule, regulation, permit, order, writ, judgment, injunction, decree, determination or award, breach of any such contract, loan agreement, indenture, mortgage, deed of trust, lease or other
instrument, or creation or imposition of such Lien, could not be reasonably expected to have a Material Adverse Effect. 
 (c)
No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority or any other third party is required for the due execution, delivery, recordation, filing or performance by the Borrower of any Financing
Document to which it is or is to be a party, or for the consummation of the Transactions, except (i) for the authorizations, approvals, actions, notices and filings (the “Governmental Approvals”), all of which have been
duly obtained, taken, given or made, are in full force and effect, are held in the name of the Borrower and are free from any conditions or requirements that have not been satisfied, and are required to be satisfied, on or prior to the dates as of
which this representation and warranty is made or reaffirmed and (ii) as disclosed on Schedule 4.01(c). 
 (d) This
Agreement has been, and each other Financing Document when delivered hereunder will have been, duly executed and delivered by it. This Agreement is, and each other Financing Document when delivered hereunder will be, its legal, valid and binding
obligation, enforceable against it in accordance with its terms, except to the extent limited by any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by
general principles of equity. 
  

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 Monongahela Power Company Credit Agreement 

 (e) There is no action, suit, investigation, litigation or proceeding, including any
Environmental Action, which has commenced against it or any of its Subsidiaries or any of their respective properties or to its knowledge, pending (but not yet commenced) or, to the knowledge of the Borrower, threatened against it or any of its
Subsidiaries or any of their respective properties before any Governmental Authority that (i) except for Disclosed Matters, if adversely determined, could reasonably be expected to have a Material Adverse Effect (other than the matters
described on Schedule 4.01(e) (the “Disclosed Litigation”)) or (ii) affects or could reasonably be expected to affect the legality, validity or enforceability of any Financing Document or the consummation of the
Transactions. 
 (f)(i) Each of the financial statements of the Borrower delivered to the Administrative Agent pursuant to
Sections 5.04(b) and 5.04(c) is true, complete and correct in all material respects as of the date of such statement, has been prepared in accordance with GAAP (subject, in the case of interim financial statements, to normal year-end
audit adjustments and the absence of footnotes), and fairly presents in all material respects the financial condition and results of operations of the Borrower and its Subsidiaries as of the date thereof. Except (A) for Disclosed Matters or
(B) as set forth in Schedule 4.01(f), since the date of the most recent financial statements delivered under this Agreement, no event, condition, occurrence or circumstance has existed or has occurred and is continuing which could
reasonably be expected to have a Material Adverse Effect. 
 (ii) Since December 31, 2008, no Material Adverse Change has
occurred, except for Disclosed Matters. 
 (g) No information, exhibit or report furnished by the Borrower to the Administrative
Agent, any Arranger Party or any other Lender Party in connection with the negotiation and syndication of the Financing Documents or the consummation of the Transactions or pursuant to the terms of the Financing Documents, when taken together with
the information contained in the Parent’s most recent annual report on Form 10-K (the “Form 10-K”) and in Parent’s reports filed with the SEC under the Securities Exchange Act of 1934 subsequent to the filing of the
Form 10-K and the Borrower’s financial statements delivered pursuant to Section 3.01(a)(xi), taken as a whole, contains (as of the date on which such information is or was provided to the Administrative Agent, any Arranger Party or
any Lender Party, as modified or otherwise supplemented by information so provided) any untrue statement of a material fact or omits to state a material fact necessary to make the statements made therein, in light of the circumstances under which
they were, are or will be made, not misleading; provided that to the extent any such information, exhibit or report was based upon or constitutes a forecast or projection, the Borrower represents only that such information was prepared in
good faith on the basis of the assumptions stated therein, which assumptions were believed by the Borrower to be reasonable at the time (it being understood that such forecasts or projections are subject to significant uncertainties and
contingencies, many of which are beyond the Borrower’s control, and that the Borrower makes no representation as to the attainability of such forecasts or projections or as to whether such forecasts or projections will be achieved or will
materialize). 
  

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 Monongahela Power Company Credit Agreement 

 (h) The Borrower is not engaged principally, or as one of its important activities, in the
business of extending credit for the purpose of purchasing or carrying Margin Stock, and no proceeds of any Advance will be used to purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin
Stock for any purpose that violates the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System, as in effect from time to time. 
 (i) Neither the Borrower nor any of its Subsidiaries is an “investment company”, as such term is defined in the 1940 Act. 
 (j)(i) Except as disclosed on Schedule 4.01(j) or in the Parent’s filings with the SEC or as could not reasonably be expected to
have a Material Adverse Effect, (A) the operations and properties of the Borrower and each of its Subsidiaries comply in all respects with all applicable Environmental Laws and Environmental Permits, (B) all past non-compliance with such
Environmental Laws and Environmental Permits has been resolved without material ongoing obligations or costs and (C) no circumstances exist that could reasonably be expected to (I) form the basis of an Environmental Action against the
Borrower or any of its Subsidiaries or any of their properties or (II) cause any such property to be subject to any restrictions on ownership, occupancy, use or transferability under any Environmental Law. 
 (ii) Except as disclosed on Schedule 4.01(j) or in the Parent’s filings with the SEC or as could not reasonably be expected to
have a Material Adverse Effect, (A) none of the properties currently or formerly owned or operated by the Borrower or any of its Subsidiaries is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state or
local list, (B) to its knowledge, there are no and never have been any unlawful underground or aboveground storage tanks or any unlawful surface impoundments, septic tanks, pits, sumps or lagoons in which Hazardous Materials are being or have
been treated, stored or disposed of on any property currently owned or operated by the Borrower or any of its Subsidiaries or on any property formerly owned or operated by the Borrower or any of its Subsidiaries, and (C) Hazardous Materials
have not been released, discharged or disposed of on any property currently or formerly owned or operated by the Borrower or any of its Subsidiaries. 
 (iii) Except as disclosed on Schedule 4.01(j) or in the Parent’s filings with the SEC or as could not reasonably be expected to have a Material Adverse Effect, (A) neither the Borrower
nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened
release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any governmental or regulatory authority or the requirements of any Environmental Law, and (B) all
Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by the Borrower or any of its Subsidiaries have been used, sold or disposed of in a manner not
reasonably expected to result in material liability to the Borrower or any of its Subsidiaries. 
 (k)(i) Neither the Borrower
nor any of its Subsidiaries is party to any tax sharing agreement other than the Tax Allocation Agreement. Insofar as then required thereunder, all amounts due and payable by the Borrower or any of its Subsidiaries under the Tax Allocation Agreement
have been paid, and all amounts due and payable to the Borrower or any of its Subsidiaries under any tax sharing agreement have been received (including amounts by way of compensation for the use of tax benefits), except as could not reasonably be
expected to have a Material Adverse Effect. 
  

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 Monongahela Power Company Credit Agreement 

 (ii) The Borrower has, and each of its Subsidiaries has, filed, caused to be filed or been
included in all tax returns (federal, state, local and foreign) required to be filed and has paid all taxes shown thereon to be due, together with applicable interest and penalties, except to the extent that the failure to do so could not reasonably
be expected to have a Material Adverse Effect. 
 (l) All property and general liability insurance maintained by or on behalf of
the Borrower and its Subsidiaries as of the Closing Date is in full force and effect and all premiums that are due and owed have been duly paid, except where the failure to pay could not reasonably be expected to have a Material Adverse Effect.

 (m) No Default has occurred and is continuing. 
 (n) The proceeds of Advances, and Letters of Credit shall be issued, solely for general corporate purposes of the Borrower and, in the case of Letters of Credit, its Subsidiaries. 
 (o) Neither the Borrower nor any Subsidiary of the Borrower is (i) a Sanctioned Person, (ii) has more than 10% of its assets in
Sanctioned Entities, or (iii) derives more than 10% of its operating income from investments in, or transactions with, Sanctioned Persons or Sanctioned Entities. The proceeds of any Advance will not be used and have not been used, and no Letter
of Credit will be used and has been used, to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or Sanctioned Entity. 
 (p) As of the date hereof, the Borrower does not have any Subsidiary, except MP Environmental Funding LLC, which directly owns Assets,
including any deposit or securities accounts, with a book value in excess of $150,000,000 in the aggregate. MP Environmental Funding LLC is a SPC. 
 ARTICLE V 
 COVENANTS 
 SECTION 5.01. Affirmative Covenants. The Borrower covenants and agrees that on and after the date hereof and until the Notes,
together with all accrued interest thereon, fees and all other Senior Unsecured Debt Obligations (other than contingent indemnification obligations not yet due and payable) are paid in full and all Commitments and each Letter of Credit shall have
terminated, it will: 
 (a) Compliance with Laws. Comply, and cause each of its Subsidiaries to comply, with all
Applicable Laws, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 
  

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 Monongahela Power Company Credit Agreement 

 (b) Compliance with Environmental Laws. Except where the failure to do so could not
reasonably be expected to have a Material Adverse Effect, (i) comply, and cause each of its Subsidiaries and all lessees and other Persons operating or occupying its properties to comply, with all applicable Environmental Laws and Environmental
Permits, (ii) obtain and renew, and cause each of its Subsidiaries to obtain and renew, all Environmental Permits necessary for its operations and properties and (iii) conduct, and cause each of its Subsidiaries to conduct, any required
investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action, necessary to remove and clean up all Hazardous Materials from any of its properties required under any Environmental Law. 
 (c) Payment of Taxes, Etc. Except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, pay
and discharge, and cause each of its Subsidiaries to pay and discharge, before the same shall become delinquent, all taxes, assessments and governmental charges or levies imposed upon it or upon its property; provided that neither the
Borrower nor any of its Subsidiaries shall be required to pay or discharge any such tax, assessment, charge or claim that is the subject of a Contest. 
 (d) Insurance. Maintain, and cause each of its Subsidiaries to maintain, insurance with responsible and reputable insurance companies or associations in such amounts and covering such risks as is
usually carried by companies engaged in similar businesses and owning similar properties in the same general areas in which the Borrower or such Subsidiary operates. 
 (e) Preservation of Corporate Existence, Etc. Except as could not reasonably be expected to have a Material Adverse Effect, preserve and maintain, and cause each Material Subsidiary to preserve and
maintain, its existence, legal structure, rights (charter or statutory), permits, licenses, approvals, franchises and privileges in the jurisdiction of its formation and in each other jurisdiction in which the conduct of its business requires it to
so qualify; provided, however, that the Borrower and any Subsidiary may consummate any merger or consolidation permitted under Section 5.02(b). 
 (f) Visitation Rights. At any reasonable time during normal business hours and from time to time as may be reasonably desired by any of the Administrative Agent or Lender Parties (provided
that unless a Default shall have occurred and be continuing, such visits should be limited to twice per year), at the Borrower’s reasonable cost and expense, permit the Administrative Agent or any Lender Party, or any agents or representatives
thereof, to examine and make copies of and abstracts from its records and books of account of, and visit the properties of, the Borrower and its Subsidiaries, and to discuss the affairs, finances and accounts of the Borrower and any of its
Subsidiaries with any of their officers or directors and with their independent certified public accountants; provided that in the case of any discussion or meeting with the independent public accountants, only if the Borrower has been given
the opportunity to participate in such discussion. 
 (g) Keeping of Books. Keep, and cause each of its Subsidiaries to
keep, proper books of record and account in accordance with GAAP in effect from time to time. 
 (h) Maintenance of
Properties, Etc. Other than as mandatorily required by Applicable Law or to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect, operate, maintain and preserve, and cause each Material Subsidiary
to 
  

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 Monongahela Power Company Credit Agreement 

 
operate, maintain and preserve, all of its properties (other than any such properties as are immaterial or non-essential to the conduct of business by the Borrower and the Material Subsidiaries,
taken as a whole) that are used or useful in the conduct of its business in good working order and condition (ordinary wear and tear excepted) in accordance with prudent practices then being utilized in the merchant, non-regulated power generation
industry and in accordance with Applicable Laws (including Environmental Laws) in all material respects. 
 (i) Transactions
with Affiliates. Other than as may be required by the Federal Power Act, as amended, or any rule or regulation issued by the FERC, conduct, and cause each of its Subsidiaries to conduct, all transactions with any of the Affiliates of the
Borrower on terms that are fair and reasonable and no less favorable to the Borrower or such Subsidiary than it would obtain in a comparable arm’s-length transaction with a Person not an Affiliate of the Borrower. It is expressly acknowledged
and agreed that notwithstanding anything to the contrary herein, the Borrower shall not through its participation in the Allegheny Money Pool make any loan or have outstanding any loans to the Parent, any of its Subsidiaries or any Affiliate
participating in the Allegheny Money Pool. Without prejudice to the foregoing, the following transactions shall be deemed to be in compliance with this Section 5.01(i): (A) any agreements made by the Borrower to supply power to
serve PEC’s West Virginia jurisdictional load, (B) transactions that provide for the purchase or sale of Property or services at cost that are entered into with any services company that is an Affiliate of the Company in accordance with
the order of applicable Governmental Authorities, (C) any transaction authorized under a tariff or rate schedule which has been approved by the FERC or performed in accordance with FERC orders, (D) any Asset sales, leases, transfers,
swaps, exchanges or other dispositions (including in respect of full or partial ownership percentages of transmission lines, generating facilities, generating equipment and related contract rights in power purchase agreements, leases, licenses,
permits and other Assets) permitted by Section 5.02(c), (E) customary sale and servicing transactions with an SPC pursuant to, and in accordance with the terms of, a Permitted Securitization, (F) any recourse, repurchase, hold
harmless, indemnity or similar obligations of the Borrower in respect of Permitted Securitizations, (G) any Performance Guarantees in connection with permitted Project Finance Debt, and (H) any interconnection agreement and interchange
agreements entered into with any Affiliate of the Borrower. For the avoidance of doubt, any contracts or arrangements listed on Schedule 5.01(i) to which the Borrower or any Subsidiary is a party (and any amendments thereto, renewals or
replacements thereof on substantially the same terms as determined in good faith by a Responsible Officer of the Borrower or any Subsidiary of the Borrower that is a party thereto) shall be deemed to comply with this Section 5.01(i)
except to the extent that any Governmental Authority determines that any such contract is not in conformance with Applicable Law and such non-conforming contract is not on terms described in the first sentence of this Section 5.01(i).

 SECTION 5.02. Negative Covenants. The Borrower covenants and agrees that on and after the date hereof and until the
Notes, together with all accrued interest thereon, fees and all other Senior Unsecured Debt Obligations (other than contingent indemnification obligations not yet due and payable) are paid in full and all Commitments and each Letter of Credit shall
have terminated, the Borrower will not, at any time: 
 (a) Liens, Etc. Create, incur, assume or suffer to exist, or
permit any Material Subsidiary to create, incur, assume or suffer to exist, any Lien on or with respect to any of its 
  

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 Monongahela Power Company Credit Agreement 

 
properties of any character (including accounts) whether now owned or hereafter acquired, or sign or file or suffer to exist, or permit any Material Subsidiary to sign or file or suffer to exist,
under the Uniform Commercial Code of any jurisdiction, a financing statement that names the Borrower or any Material Subsidiary as debtor, or sign or suffer to exist, or permit any Material Subsidiary to sign or suffer to exist, any security
agreement authorizing any secured party thereunder to file such financing statement, except: 
 (i) any Liens
(A) created pursuant to the Financing Documents (including Section 2.03(e)) and any refinancing, refunding, extension, renewal or replacement (without increase in the principal amount) of such Debt with respect to all Senior
Unsecured Debt Obligations or (B) securing Debt outstanding as of the date hereof under the First Mortgage Bonds and the Pollution Control Bonds, or any refinancing, refunding, extension, renewal or replacement (without increase in the
principal amount) of such Debt described in this clause (B); 
 (ii) Permitted Liens; 
 (iii) Liens existing on the date hereof and described on Schedule 5.02(a); 
 (iv) purchase money Liens upon or in real property, physical assets or equipment acquired or held by the Borrower or any
Material Subsidiary in the ordinary course of business to secure the purchase price of such real property, physical assets or equipment or to secure Debt incurred by the Borrower or any Material Subsidiary solely for the purpose of financing the
acquisition, construction or improvement of any such real property, physical assets or equipment to be subject to such Liens, or Liens existing on any such real property, physical assets or equipment at the time of acquisition (other than any such
Liens created in contemplation of such acquisition that do not secure the purchase price), or extensions, renewals or replacements of any of the foregoing for the same or a lesser amount; provided, however, that (A) such Lien is
incurred and the Debt secured thereby is created prior to or within 90 days after the acquisition, completion of construction or completion of improvement thereof (as applicable), (B) no such Lien shall extend to or cover any property, physical
assets or equipment other than the real property, physical assets or equipment being acquired, constructed or improved, or any proceeds thereof, and (C) the aggregate principal amount of the Debt secured by Liens permitted by this clause
(iv) shall not exceed, when combined with all Capitalized Leases on Assets permitted pursuant to Section 5.02(a)(v), at any time outstanding $250,000,000; 
 (v) Liens arising in connection with Capitalized Leases in an aggregate principal amount, when combined with Debt secured by
Liens permitted pursuant to Section 5.02(a)(iv), not to exceed $250,000,000 at any time outstanding; provided that no such Lien shall extend to or cover any Assets other than the Assets subject to such Capitalized Leases and
proceeds thereof; 
 (vi) Liens on cash or Cash Equivalents (A) deposited in margin accounts with or on
behalf of futures contract brokers or paid over to other contract counterparties or (B) pledged or deposited as collateral to a contract counterparty to secure obligations

  

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 Monongahela Power Company Credit Agreement 

 
with respect to (1) contracts (other than for Debt) for commercial and trading activities in the ordinary course of business for the purchase, transmission, distribution, sale, storage,
lease or hedge of any energy related commodity or (2) Hedge Agreements entered into for non-speculative purposes; 
 (vii) Liens on property of a Person existing at the time such Person is merged into or consolidated with the Borrower or any Material Subsidiary; provided that such Liens were not created in contemplation of such merger or
consolidation and do not extend to any Assets other than those of the Person merged into or consolidated with the Borrower or such Material Subsidiary; 
 (viii) Liens granted by the Borrower or any Material Subsidiary in favor of a commercial trading counterparty, a futures contract broker or other contract counterparty on accounts receivable arising
under, commodities covered by, other obligations owed to, and other rights of the Borrower or such Material Subsidiary, in each case, under any contract (other than for Debt) entered into in the ordinary course of business in connection with
commercial and trading activities (including any netting agreement) to secure the Borrower’s or such Material Subsidiary’s obligations under such contract; provided that such Liens are granted in the ordinary course of business and,
when granted, do not secure obligations which are past due; 
 (ix) Liens granted on cash or Cash Equivalents to
defease Debt of the Borrower or any of its Subsidiaries; 
 (x) Liens granted on cash or Cash Equivalents
constituting proceeds from any sale or disposition of Assets that is not prohibited by Section 5.02(c) deposited in escrow accounts to secure Debt that may be deemed to arise as a result of agreements of the Borrower or any Material
Subsidiary providing for indemnification, adjustment of purchase price or any similar obligations, in each case, incurred in connection with the sale or disposition of any business, Assets or Equity Interests in any Subsidiary of the Borrower
consummated not in contravention of the terms of Section 5.02(c) in an amount not to exceed with respect to any such sale or disposition the amount of gross proceeds received by the Borrower in connection with such sale or disposition;

 (xi) the replacement, extension or renewal of any Lien permitted by clause (iii), (iv), (v) or
(vii) above or clause (xiv) below upon or in the same property theretofore subject thereto; 
 (xii)
Liens securing the issuance of First Mortgage Bonds issued after the date hereof in accordance with the terms and conditions of the First Mortgage Bond Indenture (as in effect on the date hereof), provided that the principal amount of First
Mortgage Bonds issued under the First Mortgage Bond Indenture (including those issued prior to the date hereof) shall not exceed $750,000,000 in the aggregate; 
 (xiii) Liens securing any tax exempt financing permitted to be incurred by the Borrower or any of its Subsidiaries to finance
the acquisition, construction, installation or improvement of any capital or operating Assets of the Borrower or any of its Subsidiaries

  

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 Monongahela Power Company Credit Agreement 

 
(or refinancings, extensions, renewals, replacements of any of the foregoing for the same or lesser amount); provided that the Liens shall not extend to or cover any property, physical asset or
equipment other than such operating or capital Asset that is being acquired, constructed, installed or improved and other immaterial related Assets;
 (xiv) in addition to the other Liens permitted by this Section 5.02(a), Liens on Assets securing Debt with an aggregate outstanding principal or face amount not to exceed at any time 15% of
Consolidated Net Tangible Assets; 
 (xv) Liens on Receivables incurred in connection with a Permitted
Securitization; and 
 (xvi) Liens on Assets arising in connection with any Project Finance Debt; provided
that no such Lien shall extend to or cover any Assets other than the Assets subject to such Project Financing Debt (including Liens on revenues, proceeds and other customary ancillary Assets associated with such Project Finance Debt and on
Equity Interests or other Investments in any Subsidiary incurring Project Finance Debt or owning Equity Interests in any Subsidiary incurring Project Finance Debt). 
 (b) Mergers, Etc. Merge into or consolidate with any Person or permit any Person to merge into it, or permit any of its Subsidiaries to do so, except that: 
 (i) any Subsidiary of the Borrower may merge into or consolidate with the Borrower so long as the Borrower is the surviving
Person following such merger or consolidation; 
 (ii) any Subsidiary of the Borrower may merge into or
consolidate with another Subsidiary of the Borrower; provided that if any such Subsidiary is a Material Subsidiary or a direct or indirect wholly owned Subsidiary of the Borrower, the surviving Person following such merger or consolidation
shall be a Material Subsidiary or a direct or indirect wholly owned Subsidiary of the Borrower, as the case may be; 
 (iii) in connection with any sale, transfer or other disposition permitted under Section 5.02(c) (other than Section 5.02(c)(iii)), any Subsidiary of the Borrower may merge into or consolidate with any other Person
or permit any other Person to merge into or consolidate with it; 
 (iv) in connection with any acquisition not
prohibited under Section 5.02(d), any Subsidiary of the Borrower may merge or consolidate into the Borrower; 
 (v) the Borrower may merge into or otherwise consolidate with another Person if either (A) the Borrower is the surviving entity or (B) (1) the surviving entity is organized or existing
under the laws of the United States, any state thereof or the District of Columbia, (2) the surviving entity assumes all of the Borrower’s Obligations under the Financing Documents pursuant to agreements reasonably satisfactory to the
Administrative Agent and (3) any class of non-credit enhanced long-term senior unsecured debt issued by the surviving entity immediately following such merger or consolidation shall be at least “BBB-” by S&P and “Baa3”
by Moody’s; 
  

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 Monongahela Power Company Credit Agreement 

 provided, however, that in each case, immediately after giving effect thereto, no event shall
occur and be continuing that constitutes a Default. 
 (c) Sales, Etc., of Assets. Sell, lease, transfer or otherwise
dispose of, or permit any of its Subsidiaries to sell, lease, transfer or otherwise dispose of, any Assets or grant any option or other right to purchase, lease or otherwise acquire any Assets (other than to the Borrower) other than: 
 (i) the sale, transfer, lease or other disposition of or grant of any option or other right to purchase, lease or otherwise
acquire power, capacity, the right to transmit electricity or natural gas, fuel, fuel storage and processing, energy attributes and other products and services and Cash Equivalents in the ordinary course of business and any sale, lease or other
disposition of or grant of any option or other right to purchase, lease or otherwise acquire damaged, surplus, worn-out or obsolete Assets in the ordinary course of business; 
 (ii) the sale, transfer or other disposition of or grant of any option or other right to purchase, lease or otherwise acquire
any Emissions Credits in the ordinary course of business or otherwise; 
 (iii) transactions permitted under
Section 5.02(b); 
 (iv) sales, transfers, leases or other dispositions of Assets or Equity Interests
among the Borrower and its Subsidiaries; 
 (v) sales, transfers, leases or other dispositions of, or grant of
any option or other right to purchase, lease or otherwise acquire, other immaterial Assets (other than Equity Interests in, or Debt or other Obligations of, any Subsidiary) in the ordinary course of business and on reasonable terms, if no Default
exists at the time of such sale, transfer or other disposition or grant of any option or other right to purchase, lease or otherwise acquire; 
 (vi) sales or transfers of Equity Interests in the Parent to any Plan; 
 (vii) Intentionally Omitted; 
 (viii) to the extent constituting a transfer or other dispositions of
Assets (a) the payment of dividends on the common equity of the Borrower or any Subsidiary in additional shares of common equity, (b) the payment of cash dividends on the common equity of any Subsidiary to its parent; and (c) so long
as no Default or Event of Default exists or would exist immediately before or after giving effect thereto, the payment of cash dividends on the common equity of the Borrower; 
  

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 Monongahela Power Company Credit Agreement 

 (ix) sales, leases, transfers or other dispositions of Receivables in
connection with a Permitted Securitization; and 
 (x) the sale, lease, transfer or otherwise disposition of any
Assets to any Person other than the Borrower and its Subsidiaries, in an amount not to exceed (A) 15% of the value of all Assets of the Borrower and its Subsidiaries in any Fiscal Year and (B) 25% of such value in the aggregate.

 (d) Investments in Other Persons. Make or hold, or permit any Material Subsidiary to make or hold, any Investment in
any Person, except Investments related to the business and operations of the Borrower or any of its Subsidiaries, including, but not be limited to, Investments in Assets or other Persons that are part of or engaged in lines of business that are
related to the generation, transmission or distribution of electric power. Except as provided in Section 5.01(i) nothing in this Agreement shall restrict the Borrower from investing in the Allegheny Money Pool. 
 (e) Payment Restrictions Affecting the Borrower’s Subsidiaries. Enter into, incur or permit to exist any agreement or other
arrangement that prohibits or restricts the ability of any of its Material Subsidiaries to declare or pay any dividend or other distribution in respect of its Equity Interests, make loans or advances to, the Borrower; provided that the
foregoing shall not apply to restrictions and conditions imposed by (A) Applicable Law, (B) the Financing Documents, (C) the terms of any Debt outstanding on the date hereof or any refinancing, refunding, extension, renewal or
replacement of such Debt, (D) any agreement in effect with respect to any Subsidiary at the time such Subsidiary becomes a Subsidiary of the Borrower, so long as such agreement was not entered into solely in contemplation of such Person
becoming a Subsidiary of the Borrower, (E) any negative pledge incurred or provided in favor of any holder of Debt permitted to be secured under Section 5.02(a)(iv), solely to the extent any such negative pledge relates to the
property financed by or subject of such Debt or any refinancing, refunding, extension, renewal or replacement of such Debt, (F) any agreement for the sale or disposition of Assets permitted under Section 5.02(c), provided
that such restrictions and conditions apply only to the Asset that is to be sold or the proceeds thereof, (G) any trading, netting, operating, construction, service, supply, purchase, sale or similar agreement to which the Borrower or any of
its Subsidiaries is a party, entered into in the ordinary course of business; provided that such agreement prohibits the encumbrance of solely the Assets of the Borrower or such Subsidiary that are the subject of that agreement, the payment
rights arising thereunder and/or the proceeds thereof and not of any other Asset of the Borrower or such Subsidiary or the Assets of any other Subsidiary, (H) customary provisions restricting subletting or assignment of leases or customary
provisions in other agreements that restrict assignment of such agreements or rights thereunder, which restrictions, when taken as a whole, as determined in good faith by a Responsible Officer of the Borrower, are no more restrictive than any
similar restrictions in effect on the Closing Date, (I) any such restrictions or limitations contained in any other agreement in effect on the Closing Date and any amendments, modifications, restatements, renewals or replacements thereof that
are not materially more restrictive, taken as a whole, as determined in good faith by a Responsible Officer of the Borrower, than the restrictions or limitations in effect on the Closing Date, (J) any such restrictions or limitations contained
in the Parent Credit Agreement, the First Mortgage Bond Indenture, any agreements related to the Pollution Control Bonds or any refinancing, refunding, extension, renewal or replacement of such Debt but solely to the extent 
  

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 Monongahela Power Company Credit Agreement 

 
that such restrictions or limitations are contained in the agreement evidencing the relevant Pollution Control Bonds, First Mortgage Bonds, or Parent Credit Agreement, of any refinancing,
refunding, extension, renewal or replacement of such Debt, as of the date such debt was incurred, (K) customary restrictions and conditions contained in agreements relating to a Permitted Securitization and (L) any restrictions or
limitations contained in any Debt incurred in connection with the refinancing or replacement of the Medium Term Notes and in any future financing of any pollution control bonds. 
 (f) Hedge Agreements. Enter into or permit any Material Subsidiary to enter into, any Hedge Agreement except (i) Hedging
Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Borrower or any Material Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any Material Subsidiary),
and (ii) Hedging Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability
or investment of the Borrower or any Material Subsidiary. 
 SECTION 5.03. Financial Covenant. The Borrower covenants and
agrees that on and after the date hereof and until the Notes, together with all accrued interest thereon, fees and all other Senior Unsecured Debt Obligations (other than contingent indemnification obligations not yet due and payable) are paid in
full and all Commitments and each Letter of Credit shall have terminated, it will not permit the ratio of (a) Consolidated Debt, to (b) Total Capitalization, to exceed as of the last day of each March, June, September and December, 0.65 to
1.00. 
 SECTION 5.04. Reporting Covenants. The Borrower covenants and agrees that until the Notes, together with all
accrued interest thereon, fees and all other Senior Unsecured Debt Obligations are paid in full and all Commitments and each Letter of Credit shall have terminated, the Borrower will furnish to the Administrative Agent and each Lender Party (it
being understood that delivery to the Administrative Agent for posting by the Administrative Agent of each of the following items on a electronic website shall constitute delivery to each Lender Party by the Borrower, and the Administrative Agent
hereby agrees to post on an electronic website or otherwise distribute to the Lender Parties any such item delivered by the Borrower to the Administrative Agent): 
 (a) Default Notices. As soon as possible and in any event within five Business Days after any Responsible Officer of the Borrower becomes aware of the occurrence of any Default continuing on the
date of such statement, a statement of a Responsible Officer of the Borrower setting forth the details of such Default or event, development or occurrence and, in each case, the actions, if any, which the Borrower has taken and proposes to take with
respect thereto. 
 (b) Annual Financials. As soon as available and in any event within 90 days after the end of each
Fiscal Year, a copy of the annual audit report for such year for the Borrower and its Subsidiaries including therein a Consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Year and Consolidated statement of
income and a Consolidated statement of cash flows of the Borrower and its Subsidiaries for such Fiscal Year, in each case accompanied by a report that is unqualified or is otherwise reasonably acceptable to 
  

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the Required Lenders of Deloitte & Touche LLP (or such other independent public accountants of recognized standing acceptable to the Required Lenders), together with (i) a
certificate of such accounting firm stating that in the course of the regular audit of the business of the Borrower and its Subsidiaries, which audit was conducted by such accounting firm in accordance with generally accepted auditing standards,
nothing has come to such accounting firm’s attention that would cause it to believe that the Borrower has failed to comply with the covenant set forth in Section 5.03, (ii) a schedule in form satisfactory to the Administrative
Agent of the computations prepared by the Borrower and used by such accounting firm in determining, as to the fourth quarter of such Fiscal Year, compliance with the covenant contained in Section 5.03, provided that in the event
of any change in GAAP used in the preparation of such financial statements, the Borrower shall also provide, if necessary for the determination of compliance with Section 5.03, a statement of reconciliation conforming such financial
statements to GAAP as in effect as of the Closing Date and (iii) a certificate of the treasurer, assistant treasurer or other financial officer of the Borrower (reasonably acceptable to the Administrative Agent) stating that no Default has
occurred and is continuing or, if a default has occurred and is continuing, a statement as to the nature thereof and the action that the Borrower has taken and proposes to take with respect thereto. 
 (c) Quarterly Financials. As soon as available and in any event within 60 days after the end of each of the first three quarters of
each Fiscal Year, a Consolidated balance sheet of the Borrower and its Subsidiaries as of the end of such quarter and a Consolidated statement of cash flows of the Borrower and its Subsidiaries for the year to date ended as of such fiscal quarter
and a Consolidated statement of income for the period commencing at the end of the previous fiscal quarter and ending with the end of such fiscal quarter, setting forth in each case in comparative form the corresponding figures for the corresponding
date or period of the preceding Fiscal Year, all in reasonable detail and duly certified (subject to normal year-end audit adjustments) by the treasurer, assistant treasurer or other financial officer of the Borrower (reasonably acceptable to the
Administrative Agent) of the Borrower as having been prepared in accordance with GAAP, together with (i) a certificate of said officer stating that no Default has occurred and is continuing or, if a Default has occurred and is continuing, a
statement as to the nature thereof and the action that the Borrower has taken and proposes to take with respect thereto and (ii) a schedule in form satisfactory to the Administrative Agent of the computations used by the Borrower in determining
compliance with the covenant contained in Section 5.03, provided that in the event of any change in GAAP used in the preparation of such financial statements, the Borrower shall also provide, if necessary for the determination of
compliance with Section 5.03, a statement of reconciliation conforming such financial statements to GAAP as in effect as of the Closing Date. 
 (d) Additional Material Subsidiaries. As soon as available, but in no event later than five Business Days after any Responsible Officer of the Borrower becomes aware of the same, any Subsidiary
becoming a Material Subsidiary. 
 (e) Other Information. Such other information respecting the business or properties,
or the condition or operations, financial or otherwise, of the Borrower or any of its Subsidiaries as the Administrative Agent or any Lender Party acting through the Administrative Agent may from time to time reasonably request. 
  

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 ARTICLE VI 
 EVENTS OF DEFAULT 
 SECTION 6.01. Events of
Default. If any of the following events, conditions or occurrences (each, an “Event of Default”) shall occur and be continuing: 
 (a)(i) the Borrower shall fail to pay any principal of any Advance or any L/C Obligation when the same shall become due and payable or (ii) the Borrower shall fail to pay any interest on any Advance
or any L/C Obligation, or the Borrower shall fail to make any other payment under any Financing Document, in each case under this clause (ii) within three Business Days after the same becomes due and payable hereunder or under any other
Financing Document; or 
 (b) any representation, warranty, certification or statement of fact made or deemed made by or on
behalf of the Borrower herein, in any other Financing Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or 
 (c) the Borrower shall fail to perform or observe any term, covenant or agreement contained in any of Section 5.01(e),
5.02, 5.03 or 5.04(a); or 
 (d) the Borrower shall fail to perform or observe any other covenant or
agreement (not specified in Section 6.01(a) or 6.01(c) above) contained in any Financing Document on its part to be performed or observed and such failure shall remain unremedied for 30 days after the date on which a Responsible
Officer of the Borrower becomes aware of such failure; or 
 (e)(i) the Borrower or any Material Subsidiary (A) fails to
make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Debt (other than Debt under the Financing Documents or Debt which is subject to Contest) having an aggregate
principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) or with respect to any Hedge Agreement with an Agreement Value of more than
$40,000,000 either individually or in the aggregate or (B) fails to observe or perform any other agreement or condition relating to any such Debt or contained in any instrument or agreement evidencing, securing or relating thereto, or any other
event occurs, the effect of which default or other event is to cause (1) such Debt to have been demanded, become due, repurchased, prepaid, defeased or redeemed (automatically or otherwise), (2) an offer to repurchase, prepay, defease or
redeem such Debt to have been made, prior to its stated maturity, or (3) cash collateral in respect thereof to have been demanded; or (ii) there occurs under any Hedge Agreement an Early Termination Date (as defined in such Hedge
Agreement) resulting from (A) any event of default under such Hedge Agreement as to which the Borrower or any Material Subsidiary is the Defaulting Party (as defined in such Hedge Agreement) or (B) any Termination Event (as so defined)
under such Hedge Agreement as to which the Borrower or any Material Subsidiary is an Affected Party (as defined in such Hedge Agreement) and, in either event, the termination value owed by the Borrower or any Material Subsidiary as a result thereof
is greater than the $40,000,000 either individually or in the aggregate; or 
  

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 (f) any Insolvency Proceeding shall occur with respect to the Borrower or any Material
Subsidiary; or 
 (g) there is entered against the Borrower or any Material Subsidiary (i) any final judgment or order for
the payment of money in an amount exceeding $40,000,000 either individually or in the aggregate (to the extent not covered by independent third-party insurance by an insurer that is rated at least “A” by A.M. Best Company and such
coverage is not the subject of a bona fide dispute), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in the case of
(i) or (ii), (A) enforcement proceedings are commenced by any creditor upon such judgment or order and such proceedings are not stayed within 10 Business Days, or (B) there is a period of 30 consecutive days during which a stay of
enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect; or 
 (h) there occurs any Change of
Control; or 
 (i) as a result of or in connection with an ERISA Event with respect to a Plan, the Borrower or any of its
Subsidiaries or any ERISA Affiliate has incurred or is reasonably expected to incur liability in an amount exceeding, in the aggregate with any amounts applicable under clauses (j) and (k) of this Section 6.01, $40,000,000; or

 (j) the Borrower or any of its Subsidiaries or any ERISA Affiliate shall have been notified by the sponsor of a Multiemployer
Plan that it has incurred Withdrawal Liability to such Multiemployer Plan in an amount that, when aggregated with all other amounts required to be paid to Multiemployer Plans by the Borrower, its Subsidiaries and the ERISA Affiliates as Withdrawal
Liability (determined as of the date of such notification), exceeds, in the aggregate with any amounts applicable under clauses (i) and (k) of this Section 6.01, $40,000,000, or requires payments exceeding $40,000,000 per
annum; 
 (k) the Borrower or any of its Subsidiaries or any ERISA Affiliate shall have been notified by the sponsor of a
Multiemployer Plan that such Multiemployer Plan is in reorganization or is being terminated, within the meaning of Title IV of ERISA, and as a result of such reorganization or termination the aggregate annual contributions of the Borrower, its
Subsidiaries and the ERISA Affiliates to all Multiemployer Plans that are then in reorganization or being terminated have been or will be increased over the amounts contributed to such Multiemployer Plans for the plan years of such Multiemployer
Plans immediately preceding the plan year in which such reorganization or termination occurs by an amount exceeding, in the aggregate with any amounts applicable under clauses (i) and (j) of this Section 6.01, $40,000,000; or

 (l) any Financing Document shall cease, for any reason, to be in full force and effect, or the Borrower shall so
assert in writing or shall disavow any of its obligations thereunder; 
  

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 then, and in any such event, the Administrative Agent (i) shall at the request, or may with the
consent, of the Required Lenders, by notice to the Borrower, declare all or any part of the Commitments of each Lender Party and the obligation of each Lender Party to make Advances (other than an Advance by the Lenders pursuant to
Section 2.03(b)) and of the Issuing Banks to make L/C Credit Extensions to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Required Lenders, by notice to
the Borrower, declare all or any part of the Notes, all interest thereon and all other amounts payable under this Agreement and the other Financing Documents owing to the Lenders to be forthwith due and payable, whereupon the Notes, all such
interest and all such amounts shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by the Borrower; provided that upon the occurrence of
any Event of Default described in Section 6.01(f), (1) the Commitments of each Lender Party and the obligation of each Lender Party to make Advances (other than a Advance by the Lenders pursuant to Section 2.03(b)) and
of the Issuing Banks to make L/C Credit Extensions shall automatically be terminated and (2) the Notes, all such interest and all such amounts shall automatically become and be due and payable, without presentment, demand, protest or any notice
of any kind, all of which are hereby expressly waived by the Borrower, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case, without further act of the
Administrative Agent or any Lender. 
 SECTION 6.02. Actions in Respect of Letters of Credit upon Default. If any Event
of Default shall have occurred and be continuing, the Administrative Agent may, or shall at the request of the Required Lenders, irrespective of whether it is taking any of the actions described in Section 6.01 or otherwise, make demand
upon the Borrower to, and forthwith upon demand the Borrower will, Cash Collateralize, for deposit in the Cash Collateral Account, an amount equal to the Outstanding Amount of all L/C Obligations. If at any time the Administrative Agent determines
that any Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent and the Lender Parties or that the Cash Collateral is less than the Outstanding Amount of all L/C Obligations, the Borrower will, forthwith
upon demand by the Administrative Agent, pay to the Administrative Agent additional Cash Collateral to be deposited and held in the Cash Collateral Account, in an amount equal to the excess of (a) such aggregate Outstanding Amount of all L/C
Obligations over (b) the total amount of Cash Collateral that the Administrative Agent determines to be free and clear of any such right and claim. 
 ARTICLE VII 
 THE ADMINISTRATIVE AGENT 
 SECTION 7.01. Authorization and Action. (a) Each Lender Party hereby appoints and authorizes the Administrative Agent to take
such action as agent on its behalf and to exercise such powers and discretion under this Agreement and the other Financing Documents as are delegated to the Administrative Agent by the terms hereof and thereof, together with such powers and
discretion as are reasonably incidental thereto. As to any matters not expressly provided for by the Financing Documents (including enforcement or collection of the Notes), the Administrative Agent shall not be required to exercise any discretion or
take any action, but shall 
  

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be required to act or to refrain from acting (and shall be fully protected in so acting or refraining from acting) upon the instructions of the Required Lenders, and such instructions shall be
binding upon all Lender Parties and all holders of Notes; provided, however, that the Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or that is contrary to this
Agreement or Applicable Law. The Administrative Agent agrees to give to each Lender Party prompt notice (including matters disclosed in writing to the Administrative Agent as described in clause (b) of the definition of
“Disclosed Matters”) of each notice given to it by the Borrower or any other Person pursuant to the terms of this Agreement or any other Financing Documents. 
 SECTION 7.02. Reliance, Etc. Neither the Administrative Agent nor any of its directors, officers, agents or employees shall be liable for any action taken or omitted to be taken by it or them under
or in connection with the Financing Documents, except for its or their own gross negligence or willful misconduct. Without limitation of the generality of the foregoing: (a) the Administrative Agent may treat the payee of any Note as the holder
thereof until the Administrative Agent receives and accepts an Assignment and Acceptance entered into by the Lender Party that is the payee of such Note, as assignor, and an Eligible Assignee, as assignee, as provided in Section 8.07;
(b) the Administrative Agent may consult with legal counsel (including counsel for the Borrower), independent public accountants and other experts selected in good faith by it and shall not be liable for any action taken or omitted to be taken
in good faith by it in accordance with the advice of such counsel, accountants or experts; (c) the Administrative Agent makes no warranty or representation to any Lender Party and shall not be responsible to any Lender Party for any statements,
warranties or representations (whether written or oral) made in or in connection with the Financing Documents; (d) the Administrative Agent shall not have any duty to ascertain or to inquire as to the performance or observance of any of the
terms, covenants or conditions of any Financing Document on the part of the Borrower or to inspect the property (including the books and records) of the Borrower (except to confirm receipt of items expressly required to be delivered to the
Administrative Agent in Article III); (e) the Administrative Agent shall not be responsible to any Lender Party for the due execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the perfection or
priority of any lien or security interest created or purported to be created under or in connection with, any Financing Document or any other instrument or document furnished pursuant thereto; and (f) the Administrative Agent shall incur no
liability under or in respect of any Financing Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telegram, telecopy or telex) reasonably believed by it to be genuine and signed or sent by the
proper party or parties. 
 SECTION 7.03. Scotia Capital, Union Bank and Affiliates. With respect to its commitments, if
any, to make loans pursuant to its Commitment, the Advances made by it, the L/C Credit Extensions and the Notes issued to it, Scotia Capital and Union Bank shall have the same rights and powers under the Financing Documents as any other Lender and
may exercise the same as though it were not the Administrative Agent or an Arranger Party, as applicable; and the terms “Lender” or “Lenders”, shall, unless otherwise expressly indicated, include each of Scotia
Capital and Union Bank, in its individual capacity, as applicable. Scotia Capital and Union Bank and their respective Affiliates may accept deposits from, lend money to, act as trustee under indentures of, accept investment banking engagements from
and generally engage 
  

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in any kind of business with, the Borrower, any Subsidiary of the Borrower and any Person that may do business with or own securities of the Borrower or any such Subsidiary, all as if Scotia
Capital and Union Bank were not the Administrative Agent or an Arranger Party, as applicable, and without any duty to account therefor to the Lender Parties. 
 SECTION 7.04. Lender Party Credit Decision. Each Lender Party acknowledges that it has, independently and without reliance upon the Administrative Agent, any Arranger Party or any other Lender
Party, and based on the financial statements referred to in Sections 3.01 and 5.04 and such other documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the
other Financing Documents to which it is a party. Each Lender Party also acknowledges that it will, independently and without reliance upon the Administrative Agent, any Arranger Party or any other Lender Party and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement and the other Financing Documents to which it is a party. 
 SECTION 7.05. Indemnification. (a) Each Lender severally agrees to indemnify the Administrative Agent (to the extent not
promptly reimbursed by the Borrower and without limiting its obligation to do so) from and against such Lender’s Pro Rata Share of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against the Administrative Agent acting in such capacity in any way relating to or arising out of the Financing Documents or any action taken or omitted
by the Administrative Agent acting in such capacity under the Financing Documents (collectively, the “Indemnified Costs”); provided that no Lender shall be liable for any portion of such liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting directly and primarily from the Administrative Agent’s gross negligence or willful misconduct as found in a final, non-appealable judgment by a
court of competent jurisdiction. Without limitation of the foregoing, each Lender agrees to reimburse the Administrative Agent promptly upon demand for its Pro Rata Share of any costs and expenses (including reasonable fees and expenses of counsel)
payable by the Borrower under Section 8.04, to the extent that the Administrative Agent is not promptly reimbursed for such costs and expenses by the Borrower. In the case of any investigation, litigation or proceeding giving rise to any
Indemnified Costs, this Section 7.05 applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person. 
 (b) Each Lender severally agrees to indemnify each Issuing Bank (to the extent not promptly reimbursed by the Borrower and without limiting its obligation to do so) from and against such Lender’s Pro
Rata Share of any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against such Issuing Bank
in its capacity as such in any way relating to or arising out of the Financing Documents or any action taken or omitted by such Issuing Bank under the Financing Documents (including the issuance or transfer of, or payment or failure to pay under,
any Letter of Credit); provided that no Lender Party shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting directly and primarily
from such Issuing Bank’s gross negligence or willful misconduct as found in a final,

  

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non-appealable judgment by a court of competent jurisdiction. Without limitation of the foregoing, each Lender agrees to reimburse such Issuing Bank promptly upon demand for its Pro Rata Share of
any costs and expenses (including, without limitation, reasonable fees and expenses of counsel) payable by the Borrower under Section 8.04, to the extent that such Issuing Bank is not promptly reimbursed for such costs and expenses by
the Borrower. 
 (c) The failure of any Lender to reimburse the Administrative Agent, any Arranger Party or any Issuing Bank, as
the case may be, promptly upon demand for its Pro Rata Share of any amount required to be paid by the Lender Parties to the Administrative Agent, any Arranger Party or any Issuing Bank, as the case may be, as provided herein shall not relieve any
other Lender Party of its obligation hereunder to reimburse the Administrative Agent, any Arranger Party or any Issuing Bank, as the case may be, for its Pro Rata Share of such amount, but no Lender Party shall be responsible for the failure of any
other Lender Party to reimburse the Administrative Agent, any Arranger Party or any Issuing Bank, as the case may be, for such other Lender Party’s Pro Rata Share of such amount. Without prejudice to the survival of any other agreement of any
Lender Party hereunder, the agreement and obligations of each Lender Party contained in this Section 7.05 shall survive the payment in full of principal, interest and all other amounts payable hereunder and under the other Financing
Documents. 
 SECTION 7.06. Successor Administrative Agent. The Administrative Agent may resign at any time by giving
written notice thereof to the Lender Parties and the Borrower and may be removed at any time with or without cause by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall have the right to appoint a successor
Administrative Agent. If no successor Administrative Agent shall have been so appointed by the Required Lenders, and shall have accepted such appointment, within 30 days after the retiring Administrative Agent’s giving of notice of resignation
or the Required Lenders’ removal of the retiring Administrative Agent, then the retiring Administrative Agent may, on behalf of the Lender Parties, appoint a successor Administrative Agent, which shall be a commercial bank organized under the
laws of the United States or of any State thereof and having a combined capital and surplus of at least $500,000,000. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor
Administrative Agent shall succeed to and become vested with all the rights, powers, discretion, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations
under the Financing Documents. After any retiring Administrative Agent’s resignation or removal hereunder as Administrative Agent shall have become effective, the provisions of this Article VII shall inure to its benefit as to any
actions taken or omitted to be taken by it while it was Administrative Agent under the Financing Documents. 
 SECTION 7.07.
Liability. Neither the Administrative Agent nor any Arranger Party shall be liable for any error of judgment or for any act done or omitted to be done by it in good faith or for any mistake of fact or law, or for anything it may do or refrain
from doing, except to the extent that any such liability is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted directly and primarily from its gross negligence or willful misconduct. 
  

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 SECTION 7.08. Compensation of the Administrative Agent. The Administrative Agent
shall be entitled to reasonable compensation as may be agreed from time to time between the Borrower and the Administrative Agent, for all services rendered under this Agreement and the other Financing Documents to which it is a party and such
compensation, together with reimbursement of the Administrative Agent in its individual capacity (and its agency capacity) for its advances, disbursements and reasonable expenses in connection with the performance of the trust and activities
provided for herein (including the reasonable fees and expenses of its agents and of counsel, accountants and other experts), shall be paid in full by the Borrower promptly following demand from the Administrative Agent from time to time as services
are rendered and expenses are incurred. All such payments made by the Borrower to the Administrative Agent shall be made free and clear of all present and future income, stamp or other taxes, levies and withholdings imposed, assessed, levied or
collected by the government of the United States of America or any political subdivision or taxing authority thereof. Except as otherwise expressly provided herein, no Lender Party shall have any liability for any fees, expenses or disbursements of
the Administrative Agent. Upon its resignation or removal, the Administrative Agent shall be entitled to the prompt payment by the Borrower of its compensation and indemnification for the services rendered under this Agreement and the other
Financing Documents to which it is a party and to reimbursement of all reasonable out-of-pocket expenses up to the date of resignation or removal (including the reasonable fees and expenses of counsel, if any) incurred in connection with the
performance of such services. The agreements in this Section 7.08 shall survive any resignation or removal of the Administrative Agent and the termination of the other provisions of this Agreement. 
 SECTION 7.09. Exculpatory Provisions. The Administrative Agent makes no representation as to the title of the Borrower or as to the
rights and interests granted or the security afforded by this Agreement or any other Financing Document, or as to the validity, execution (except by itself), enforceability, legality or sufficiency of this Agreement, any other Financing Document,
and the Administrative Agent (in its individual and agency capacities) shall not incur any liability or responsibility in respect of any such matters. 
 SECTION 7.10. Treatment of Lenders. The Administrative Agent may treat the Lender Parties as the holders of Commitments or L/C Credit Extensions and as the absolute owners thereof for all purposes
under this Agreement and the other Financing Documents unless the Administrative Agent shall receive notice to the contrary from such Lender Party. 
 SECTION 7.11. Miscellaneous. (a) Instructions. The Administrative Agent shall have the right at any time to seek instructions concerning the administration of its duties and obligations
hereunder or under any other Financing Documents from the Lenders or any court of competent jurisdiction. In the event there is any disagreement between the parties to this Agreement and the terms of this Agreement or any other applicable Financing
Document do not unambiguously mandate the action the Administrative Agent is to take or not to take in connection therewith under the circumstances then existing, or the Administrative Agent is in doubt as to what action it is required to take or
not to take, the Administrative Agent (other than with respect to the Administrative Agent’s actions required under the final sentence of Section 7.01(a)) shall be entitled to refrain from taking any action until directed otherwise
in writing by a request signed jointly by the Required Lenders or by order of a court of competent jurisdiction. 
  

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 (b) No Obligation. None of the provisions of this Agreement or the other Financing
Documents shall be construed to require the Administrative Agent to expend or risk its own funds or otherwise to incur any personal financial liability in the performance of any of its duties hereunder or thereunder. The Administrative Agent shall
be under no obligation to exercise any of the rights or powers vested in it by this Agreement or the other Financing Documents, at the request or direction of the Borrower or any Lender Party, (i) if any action it has been requested or directed
to take would be contrary to Applicable Law, or (ii) unless the Administrative Agent shall have been offered security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities that might be incurred by it in
compliance with such request or direction (including interest thereon from the time incurred until reimbursed). 
 SECTION 7.12.
Arranger Parties. Except as set forth in Sections 7.03 and 8.12, none of the Lenders or other Persons identified on the cover page or signature pages of this Agreement as a “joint lead arranger”, “joint
book runner” or “syndication agent” shall have any right, power, obligation, liability, responsibility or duty under this Agreement or any other Financing Document other than, in the case of such Lenders, those applicable
to all Lenders as such. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any fiduciary, agency or advisory relationship or other implied duty with any Lender. Each Lender acknowledges
that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder. 
 ARTICLE VIII 
 MISCELLANEOUS 
 SECTION 8.01. Amendments, Etc. (a) Amendments. No amendment or waiver of any provision of this Agreement or any Notes, nor
consent to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Required Lenders and, in the case of an amendment only, the Borrower, and then such amendment, waiver or
consent shall be effective only in the specific instance and for the specific purpose for which given; provided that no amendment, waiver or consent shall, unless in writing and signed by: (i) all of the Lenders at any time
(A) amend or waive any provision of this Agreement specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or under the Notes including the definition of “Required
Lenders”, or (B) waive any condition set forth in Section 3.01; and (ii) all of the Lenders affected thereby, at any time (A) reduce the principal of, or rate of interest on, the Advances or Notes or any fees or
other amounts payable hereunder or extend or postpone any date scheduled for any payment required to be made hereunder (including pursuant to Section 2.05, 2.06 or 2.07), (B) extend the Final Maturity Date,
(C) increase any Commitment or subject any Lender Party to any additional obligation, (D) alter any provision of this Agreement requiring the pro rata sharing of payments among the Lender Parties including Sections 2.09(h) and the
definition of “Pro Rata Share”, (E) change the order of application of any payments or prepayments of Advances from the application thereof contemplated by Section 2.05 or 2.06 of this Agreement,
(F) amend the definition of “Interest Period” so as to allow the duration of any Interest Period other than of a one, two, three or six month duration without regard to the availability to all Lenders of such duration, and
(G) limit the liability of the Borrower or release the Borrower from liability 
  

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hereunder or under any of the Notes; provided further that (x) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent or the Issuing Banks, in
addition to the Lenders required above to take such action, affect the rights or duties of the Administrative Agent or any Issuing Bank under this Agreement, and (y) Section 8.07(h) may not be amended, waived or otherwise modified
without the consent of each Granting Lender all or any part of whose Advances are being funded by any SPV at the time of such amendment, waiver or other modification. 
 (b) Other Financing Documents. Except as otherwise specifically provided in this Agreement or any other Financing Document, the Lenders may amend, modify, terminate, change or waive, or consent or
agree to any amendment, modification, termination, change or waiver of, any provision of any other Financing Document to which they are a party in accordance with the terms thereof. 
 SECTION 8.02. Notices, Etc. (a) Notices and other communications provided for hereunder shall be either (i) in writing
(including telecopier, telegraphic or telex communication) and mailed, telecopied or otherwise delivered or (ii) as and to the extent set forth in Section 8.02(b) and in the proviso to this Section 8.02(a), if to the
Borrower, at its address at Monongahela Power Company, 800 Cabin Hill Drive, Greensburg, PA 15601, Fax: (724) 830-5151, Attention: General Counsel and Treasurer; if to any Initial Lender, the Initial Issuing Bank, any Lender or any
Issuing Bank, at its Domestic Lending Office; and if to the Administrative Agent, at (A) in all cases, One Liberty Plaza, 26th Floor, New York, New York 10006, Attention: Isabel Abella; Telephone: (212) 225-5305; Fax: (212) 225-5480;
and (B) in the case of all notices and other communications pursuant to Article II, with a copy to U.S Agency Loan Operations, c/o WBO Loan Operations 720 King Street, 2nd Floor, Toronto, Canada M5V 2T3, Attention: Vivian Tin and Karen
Lam; Telephone: (212) 225-5706; Fax: (212) 225-5708 or (416) 350-5701; or, as to the Borrower or the Administrative Agent, at such other address as shall be designated by the Borrower or the Administrative Agent, as the case may be,
in a written notice to the other parties and, as to each other party, at such other address as shall be designated by such party in a written notice to the Borrower and the Administrative Agent, provided that materials required to be
delivered pursuant to Section 5.04 shall be delivered to the Administrative Agent as specified in Section 8.02(b) or as otherwise specified to the Borrower by the Administrative Agent. All such notices and communications
shall, when mailed, telecopied, telegraphed or e-mailed, be effective when deposited in the mails, telecopied, delivered to the telegraph company or confirmed by e-mail, respectively, except that notices and communications to the Administrative
Agent pursuant to Article II, Article III or Article VII shall not be effective until received by the Administrative Agent. Delivery by telecopier of an executed counterpart of any amendment or waiver of any provision of this
Agreement or the Notes or of any Exhibit hereto to be executed and delivered hereunder shall be effective as delivery of a manually executed counterpart thereof. 
 (b) So long as Scotia Capital is the Administrative Agent, the Borrower hereby agrees that it will provide to the Administrative Agent all information, documents and other materials that it is obligated
to furnish to the Administrative Agent pursuant to the Financing Documents, including all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication that
(i) relates to a request for a new, or a conversion of an existing, borrowing or other extension of

  

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credit (including any election of an interest rate or interest period relating thereto), (ii) relates to the payment of any principal or other amount due under this Agreement prior to the
scheduled date therefor, (iii) provides notice of any Default or (iv) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any borrowing or other extension of credit hereunder (all
such non-excluded communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium in a format acceptable to the Administrative Agent to
isabel_abella@scotiacapital.com. In addition, the Borrower agrees to continue to provide the Communications to the Administrative Agent in the manner specified in the Financing Documents but only to the extent requested by the Administrative Agent.

 (c) The Borrower further agrees that the Administrative Agent may make the Communications available to the Lender Parties by
posting the Communications on Intralinks or a substantially similar electronic transmission system (the “Platform”). 
 (d) THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE
PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD
PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE AGENT PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS,
DIRECTORS, EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES (COLLECTIVELY, “AGENT PARTIES”) HAVE ANY LIABILITY TO THE BORROWER, ANY LENDER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING DIRECT OR INDIRECT,
SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF THE BORROWER’S OR THE ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT
THE LIABILITY OF ANY AGENT PARTY IS FOUND IN A FINAL, NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH AGENT PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. 
 (e) The Administrative Agent agrees that the receipt of the Communications by the Administrative Agent at its e-mail address set forth above
shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Financing Documents. Each Lender Party agrees that receipt of notice to it (as provided in the next sentence) specifying that the
Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender Party for purposes of the Financing Documents. Each Lender Party agrees to notify the Administrative Agent in writing (including
by electronic communication) from time to time of such Lender Party’s e-mail address to which the foregoing notice may be sent by electronic transmission and (ii) that the foregoing notice may be sent to such e-mail address. 
  

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 (f) Nothing herein shall prejudice the right of the Administrative Agent or any Lender Party
to give any notice or other communication pursuant to any Financing Document in any other manner specified in such Financing Document. 
 SECTION 8.03. No Waiver, Remedies. No failure by any Lender Party or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Financing
Document shall operate as a waiver thereof; nor shall any single or partial exercise of any such right, remedy, power or privilege preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The
rights, remedies, powers and privileges provided herein and in the other Financing Documents are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
 SECTION 8.04. Indemnity and Expenses. (a) The Borrower agrees to pay within 30 days (or earlier if, and to the extent, required
under Article III) after the presentation of an invoice all reasonable third-party costs and expenses of (i) the Administrative Agent in connection with the administration of this Agreement and the other Financing Documents and the
transactions contemplated hereby and thereby (but without duplication of such obligation under any other Financing Document) and (ii) the Administrative Agent and the Arranger Parties in connection with the preparation, negotiation, execution
and delivery of this Agreement, the Notes, the other Financing Documents and the other documents to be delivered hereunder or thereunder, including (A) all due diligence, syndication (including printing, distribution and bank meetings),
transportation, computer, duplication, appraisal, consultant, audit expenses and, where appropriate, registration of all Financing Documents and (B) the reasonable fees and expenses of counsel for the Administrative Agent. The Borrower further
agrees to pay on demand all costs and expenses of the Administrative Agent, each Arranger Party and each Lender Party, if any (including reasonable counsel fees and expenses), in connection with (1) the enforcement (whether through
negotiations, legal proceedings or otherwise) of this Agreement, the Notes, the other Financing Documents and the other documents to be delivered hereunder or thereunder, including reasonable fees and expenses of counsel for the Administrative
Agent, each Arranger Party and each Lender Party; (2) the custody, preservation, use or operation of, or the sale of, collection from or other realization upon, any collateral; (3) the exercise or enforcement of any of the rights of the
Administrative Agent, any Arranger Party or any Lender Party under any Financing Document; (4) the failure by the Borrower to perform or observe any of the provisions hereof; and (5) any amendments, modifications, waivers or consents
required or requested under the Financing Documents. 
 (b) The Borrower agrees to indemnify and hold harmless the
Administrative Agent, each Arranger Party and each Lender Party and each of their Affiliates and their respective officers, directors, employees, agents, sub-agents, trustees, attorneys and advisors (each, an “Indemnified
Party”) from and against any and all claims, damages, losses, costs, liabilities and expenses (including reasonable fees and expenses of counsel, including the allocated cost of internal counsel) that may be incurred by or asserted or
awarded against any Indemnified Party, in each case arising out of or in connection with or by reason of (including in connection with any investigation, litigation or proceeding or preparation of a defense in connection therewith) or relating to
(i) execution, amendment or administration of this Agreement, the other Financing Documents, any Letter of Credit, any of the transactions

  

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contemplated herein or therein or the actual or proposed use of the proceeds of the Advances or any L/C Borrowings, (ii) the issuance or transfer of, or payment or failure to pay under, any
Letter of Credit or (iii) the actual or alleged presence of Hazardous Materials requiring remediation or other response pursuant to Environmental Law on any property of the Borrower or any of its Subsidiaries or any Environmental Action
relating in any way to the Borrower or any of its Subsidiaries, except to the extent such claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court of competent jurisdiction to have resulted directly and
primarily from such Indemnified Party’s gross negligence or willful misconduct. In the case of an investigation, litigation or other proceeding to which the indemnity in this Section 8.04(b) applies, such indemnity shall be
effective whether or not such investigation, litigation or proceeding is brought by the Borrower, its directors, equityholders or creditors or an Indemnified Party or any other Person, whether or not any Indemnified Party is otherwise a party
thereto and whether or not the transactions contemplated hereby are consummated. The Borrower also agrees not to assert any claim against the Administrative Agent, any Lender Party or any of their Affiliates, or any of their respective officers,
directors, employees, agents, attorneys and advisors, on any theory of liability, for special, indirect, consequential or punitive damages arising out of or otherwise relating to the Facility, the actual or proposed use of the proceeds of the
Advances or any Letter of Credit, the Financing Documents or any of the transactions contemplated by the Financing Documents. 
 (c) The indemnities provided by the Borrower pursuant to this Agreement shall survive the expiration, cancellation, termination or modification of this Agreement or the other Financing Documents, the resignation or removal of the
Administrative Agent, and the provision of any subsequent or additional indemnity by any Person. 
 (d) If any payment of
principal of, or Conversion of, any Eurodollar Rate Advance is made by the Borrower to or for the account of a Lender Party other than on the last day of the Interest Period for such Advance, as a result of a payment or Conversion pursuant to
Section 2.06, 2.11(b) or 2.12(c), acceleration of the maturity of the Notes pursuant to Section 6.01 or for any other reason, or if the Borrower fails to make any payment or prepayment of an Advance for which a
notice of prepayment has been given or that is otherwise required to be made, whether pursuant to Section 2.04, 2.06 or 6.01 or otherwise, or if a Lender assigns any Eurodollar Rate Advance other than on the last day of the
Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 8.07(a), the Borrower shall, upon demand by such Lender Party (with a copy of such demand to the Administrative Agent), pay to the
Administrative Agent for the account of such Lender Party any amounts required to compensate such Lender Party for any additional losses, costs or expenses that it may reasonably incur as a result of such payment or Conversion or such failure to pay
or prepay, as the case may be, including any loss (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender Party to fund or maintain such
Advances. 
 (e) If the Borrower fails to pay when due any costs, expenses or other amounts payable by it under any Financing
Document, including fees and expenses of counsel and indemnities, such amount may be paid on behalf of the Borrower by the Administrative Agent or any Lender Party, in its sole discretion. 
  

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 SECTION 8.05. Right of Set-off. Upon (a) the occurrence and during the
continuance of any Event of Default and (b) the making of the request or the granting of the consent specified by Section 6.02 to authorize the Administrative Agent to declare the Notes due and payable pursuant to the provisions of
Section 6.02, the Administrative Agent and each Lender Party and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and otherwise apply any and
all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by the Administrative Agent, such Lender Party or such Affiliate to or for the credit or the account of the Borrower
against any and all of the Obligations of the Borrower now or hereafter existing under the Financing Documents, irrespective of whether the Administrative Agent or such Lender Party shall have made any demand under this Agreement or such Note or
Notes and although such Obligations may be unmatured. The Administrative Agent and each Lender Party agrees promptly to notify the Borrower after any such set-off and application; provided, however, that the failure to give such notice
shall not affect the validity of such set-off and application. The rights of the Administrative Agent and each Lender Party and their respective Affiliates under this Section 8.05 are in addition to other rights and remedies (including
other rights of set-off) that the Administrative Agent, such Lender Party and their respective Affiliates may have. 
 SECTION
8.06. Binding Effect. This Agreement shall become effective at such time as it shall have been executed by the Borrower and the Administrative Agent and the Administrative Agent shall have been notified by each Initial Lender Party that such
Initial Lender Party has executed it and thereafter shall be binding upon and inure to the benefit of the Borrower, the Administrative Agent and each Lender Party and their respective successors and assigns, except that the Borrower shall not have
the right to assign its rights hereunder or any interest herein without the prior written consent of the Lender Parties. 
 SECTION 8.07. Assignments and Participations. (a) Each Lender Party may and, if requested by the Borrower (following (i) a demand by such Lender Party for the payment of additional compensation pursuant to
Section 2.12 or 2.13, (ii) an assertion by such Lender Party pursuant to Section 2.10 that it is unlawful for such Lender Party to make Eurodollar Rate Advances or (iii) a failure by such Lender Party to
approve any amendment or waiver pursuant to Section 8.01, provided that such amendment or waiver would otherwise have been effective but for such Lender Party’s failure, together with the failure of any other Lender Party to
which the Borrower has made a similar request under this clause (a), to approve such amendment or waiver, provided further that, with respect to clause (iii), such failure to approve shall have continued for a period of not less than five
Business Days following written notice by the Borrower to such Lender Party of such request by the Borrower), shall assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a
portion of its Commitment, the Advances owing to it, L/C Credit Extensions and the Note or Notes held by it), including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided, however, that (i) each
such assignment shall be of a uniform, and not a varying, percentage of all rights and obligations of such Lender under and in respect of and shall be made on a pro rata basis with respect to each of the Advances held by such Lender,
(ii) except in the case of an assignment to a Person that, immediately prior to such assignment, was a Lender Party, an Affiliate of any Lender Party or an Approved Fund or an assignment of all of a 
  

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Lender Party’s rights and obligations under this Agreement, the aggregate amount of any Commitment or Advance being assigned to such Eligible Assignee pursuant to such assignment (determined
as of the date of the Assignment and Acceptance with respect to such assignment) shall in no event be less than $5,000,000 (or such lesser amount as shall be approved by the Administrative Agent) and shall be in increments of $1,000,000 in excess
thereof; provided that Related Funds shall be combined for purposes of determining compliance with such minimum assignment amounts, (iii) with respect to any Commitment, Advance, L/C Credit Extension or L/C Borrowing, no such assignments
(other than pledges or assignment by way of security to a Federal Reserve Bank) shall be permitted without the consent of each Issuing Bank (in each case, acting in its sole discretion), the Administrative Agent (such consent not to be unreasonably
withheld or delayed) and, so long as no Specified Default has occurred and is continuing, the consent of the Borrower (such consent not to be unreasonably withheld or delayed), except, with respect to the Borrower’s consent only, assignments to
any other Lender Party, an Affiliate of any Lender, any Approved Fund, and (iv) the parties to each such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and
Acceptance, together with any Note or Notes subject to such assignment and a processing and recordation fee of $3,500 (such fee to be paid by the Borrower if such assignment is being made pursuant to a request of the Borrower therefor under this
Section 8.07(a)); provided that only one such fee shall be payable in the case of contemporaneous assignments to or by two or more Approved Funds and (v) each such assignment thereof shall be made on a pro rata basis
with respect to each of (A) such Lender’s Advances and L/C Credit Extensions and (B) such Lender’s Commitment; provided further that (I) each such assignment made as a result of a request by the Borrower pursuant to
this Section 8.07(a) shall be arranged by the Borrower with the approval of the Administrative Agent, which approval shall not be unreasonably withheld or delayed, and shall be either an assignment of all of the rights and obligations of
the assigning Lender under this Agreement or an assignment of a portion of such rights and obligations made concurrently with another such assignment or other such assignments that, in the aggregate, cover all of the rights and obligations of the
assigning Lender under this Agreement and (II) no Lender shall be obligated to make any such assignment as a result of a demand by the Borrower pursuant to this Section 8.07(a) unless and until such Lender shall have received one or more
payments from one or more Eligible Assignees in an aggregate amount at least equal to the aggregate outstanding principal amount of the Advances owing to such Lender, together with accrued interest thereon to the date of payment of such principal
amount, and from the Borrower and/or one or more Eligible Assignees in an aggregate amount equal to all other amounts payable to such Lender under this Agreement and the other Financing Documents (including, without limitation, any amounts owing
under Sections 2.12, 2.13 or 8.04). 
 (b) Any Issuing Bank may assign to an Eligible Assignee all of its
rights and obligations under the undrawn portion of its commitment hereunder to issue Letters of Credit at any time; provided, however, that (i) each such assignment shall be to an Eligible Assignee, (ii) the parties to each
such assignment shall execute and deliver to the Administrative Agent, for its acceptance and recording in the Register, an Assignment and Acceptance, together with a processing and recordation fee of $3,500 and (iii) so long as no Specified
Default has occurred and is continuing, the Borrower has consented to the assignment (such consent not to be unreasonably withheld). 
  

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 (c) Upon such execution, delivery, acceptance and recording, from and after the effective
date specified in such Assignment and Acceptance, (i) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, have the rights
and obligations of a Lender or Issuing Bank, as the case may be, hereunder and (ii) the Lender or Issuing Bank assignor thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment
and Acceptance, relinquish its rights (other than its rights under Sections 2.12, 2.13 and 8.04 to the extent any claim thereunder relates to an event arising prior to such assignment) and be released from its obligations under
this Agreement (and, in the case of an Assignment and Acceptance covering all of the remaining portion of an assigning Lender’s or Issuing Bank’s rights and obligations under this Agreement, such Lender or Issuing Bank shall cease to be a
party hereto). 
 (d) By executing and delivering an Assignment and Acceptance, each Lender Party assignor thereunder and each
assignee thereunder confirm to and agree with each other and the other parties thereto and hereto as follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender Party makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or representations made in or in connection with any Financing Document or the execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the
perfection or priority of any lien or security interest created or purported to be created under or in connection with any Financing Document or any other instrument or document furnished pursuant thereto; (ii) such assigning Lender Party makes
no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower or the performance or observance by the Borrower of any of its obligations under any Financing Document or any other instrument or
document furnished pursuant thereto; (iii) such assignee confirms that it has received a copy of this Agreement and each other Financing Document, together with copies of the financial statements referred to in Sections 4.01(f),
5.04(b) and 5.04(c) and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Acceptance; (iv) such assignee will, independently and
without reliance upon the Administrative Agent, such assigning Lender Party or any other Lender Party and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not
taking action under this Agreement or any other Financing Document; (v) such assignee confirms that it is an Eligible Assignee; (vi) such assignee appoints and authorizes each Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Financing Documents as are delegated to such Agent by the terms hereof and thereof, together with such powers and discretion as are reasonably incidental thereto; and (vii) such assignee agrees that
it will perform in accordance with their terms all of the obligations that by the terms of this Agreement and the other Financing Documents are required to be performed by it as a Lender or Issuing Bank, as the case may be. 
 (e) The Administrative Agent shall maintain at its address referred to in Section 8.02 a copy of each Assignment and Acceptance
delivered to and accepted by it and a register for the recordation of the names and addresses of the Lender Parties and the Commitments of, and principal amount of the Advances and L/C Borrowings owing to, each Lender Party from time to time (the
“Register”). The entries in the Register shall be conclusive

  

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and binding for all purposes, absent manifest error, and the Borrower, the Administrative Agent and the Lender Parties shall treat each Person whose name is recorded in the Register as a Lender
Party hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower or the Administrative Agent or any Lender Party at any reasonable time and from time to time upon reasonable prior notice. 

(f) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender Party and an assignee, together with any Note or
Notes subject to such assignment, the Administrative Agent shall, if such Assignment and Acceptance has been completed and is in substantially the form of Exhibit C, (i) accept such Assignment and Acceptance, (ii) record the
information contained therein in the Register and (iii) give prompt notice thereof to the Borrower. In the case of any assignment by a Lender, within five Business Days after its receipt of such notice, the Borrower, at its own expense, shall
execute and deliver to the Administrative Agent in exchange for the surrendered Note or Notes a new Note to the order of such Eligible Assignee in an amount equal to the Commitment assumed by it pursuant to such Assignment and Acceptance and, if any
assigning Lender has retained a Commitment hereunder, a new Note to the order of such assigning Lender in an amount equal to the Commitment retained by it hereunder. Such new Note or Notes shall be in an aggregate principal amount equal to the
aggregate principal amount of such surrendered Note or Notes, shall be dated the effective date of such Assignment and Acceptance and shall otherwise be in substantially the form of Exhibit A. 
 (g) Each Lender Party may sell participations to one or more Persons (other than the Borrower or any Affiliate of the Borrower) in or to all
or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment, the Advances owing to it, L/C Credit Extensions and the Note or Notes (if any) held by it); provided, however, that
(i) any such sale shall be of a uniform and not varying percentage of all of its rights and obligations in respect of such Advances, (ii) such Lender Party’s obligations under this Agreement (including its Commitment and L/C Credit
Extensions) shall remain unchanged, (iii) such Lender Party shall remain solely responsible to the other parties hereto for the performance of such obligations, (iv) such Lender Party shall remain the holder of any such Note for all
purposes of this Agreement, (v) the Borrower, the Administrative Agent and the other Lender Parties shall continue to deal solely and directly with such Lender Party in connection with such Lender Party’s rights and obligations under this
Agreement and (vi) no participant under any such participation shall have any right to approve any amendment or waiver of any provision of any Financing Document, or any consent to any departure by the Borrower therefrom, except to the extent
that such amendment, waiver or consent would reduce the principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such participation, postpone any date fixed for any payment of
principal of, or interest on, the Notes or any fees or other amounts payable hereunder, in each case to the extent subject to such participation. 
 (h) Notwithstanding anything in this Agreement to the contrary (including any other provision regarding assignments, participations, transfers or novations), any Lender (a “Granting
Lender”) may, without the consent of any other party hereto, grant to a special purpose vehicle (whether a corporation, partnership, limited liability company, trust or otherwise, an “SPV”) sponsored or managed
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participation in all or any part of any Advance (including the Commitment therefor) that such Granting Lender has made or will make pursuant to this Agreement; provided that (i) such
Granting Lender’s obligations under this Agreement (including its Commitment) shall remain unchanged; (ii) such Granting Lender shall remain the holder of its Note for all purposes under this Agreement; and (iii) the Borrower, the
Administrative Agent and the other Lenders shall continue to deal solely and directly with such Granting Lender in connection with such Granting Lender’s rights and obligations under the Financing Documents. Each party hereto hereby agrees that
(A) no SPV will be entitled to any rights or benefits that a Lender would not otherwise be entitled to under this Agreement or any other Financing Document; and (B) an SPV may assign its interest in any Advance under this Agreement to any
Person that would constitute a Lender subject to the satisfaction of all requirements for an assignment by any Lender set forth in this Section 8.07. Notwithstanding anything in this Agreement to the contrary, the Granting Lender and any
SPV may, without the consent of any other party to this Agreement, and without limiting any other rights of disclosure of the Granting Lender under this Agreement, disclose on a confidential basis any non-public information relating to its funding
of its Advances to (1) (in the case of the Granting Lender) any actual or prospective SPV, (2) (in the case of an SPV) its lenders, sureties, reinsurers, guarantors or credit liquidity enhancers, (3) their respective directors,
officers, and advisors, and (4) any rating agency. 
 (i) Any Lender Party may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section 8.07, disclose to the assignee or participant or proposed assignee or participant any information relating to the Borrower furnished to such Lender Party by
or on behalf of the Borrower, subject to the requirements set forth in Section 8.12. 
 (j) Notwithstanding any
other provision set forth in this Agreement, any Lender Party may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including the Advances owing to it and the Note or Notes held by it) to
secure the obligations of such Lender Party, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender Party from any of its obligations hereunder
or substitute any such pledgee or assignee for such Lender Party as a party hereto. 
 SECTION 8.08. Execution in
Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by telecopier shall be effective as delivery of an original executed counterpart of this Agreement. 
 SECTION 8.09. Jurisdiction, Etc. (a) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its
property, to the non-exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to
this Agreement or any of the other Financing Documents to which it is a party, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding 
  

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may be heard and determined in any such New York State court or, to the fullest extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any party may otherwise have to bring any
action or proceeding relating to this Agreement or any of the other Financing Documents in the courts of any jurisdiction. 
 (b) Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding
arising out of or relating to this Agreement or any of the other Financing Documents to which it is a party in any New York State or Federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 SECTION 8.10.
Governing Law. This Agreement and the Notes shall be governed by, and construed in accordance with, the laws of the State of New York. 
 SECTION 8.11. Waiver of Jury Trial. The Borrower, the Administrative Agent and the Lender Parties irrevocably waives all right to trial by jury in any action, proceeding or counterclaim (whether
based on contract, tort or otherwise) arising out of or relating to any of the Financing Documents, the Advances, any Letter of Credit or the actions of the Administrative Agent or any Lender Party in the negotiation, administration, performance or
enforcement thereof. 
 SECTION 8.12. Confidentiality. (a) Neither the Administrative Agent, any Arranger Party nor
any Lender Party may, without the prior written consent of the Borrower, disclose to any Person (i) any confidential, proprietary or non-public information of the Borrower furnished to the Administrative Agent, the Arranger Parties or the
Lender Parties by the Borrower (such information being referred to collectively herein as the “Confidential Information”) or (ii) the fact that the Confidential Information has been made available or any of the terms,
conditions or other facts with respect to the Confidential Information, in each case except as permitted by Section 8.07 or this Section 8.12 and except that the Administrative Agent, each of the Arranger Parties and each of
the Lender Parties may disclose Confidential Information (i) to its and its Affiliates’ employees, officers, directors, agents sub-agents, and advisors (collectively, “Representatives”) who need to know the
Confidential Information for the purpose of administering or enforcing its rights under this Agreement and the other Financing Documents and the transactions contemplated hereby and thereby or for the discharge of their duties (it being understood
that the Representatives to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and instructed to keep such Confidential Information confidential on substantially the same terms as provided
herein), (ii) to the extent requested by any regulatory authority having jurisdiction over it or to the extent necessary for purposes of enforcing this Agreement or any other Financing Document, (iii) to the extent required by applicable
laws or regulations or by any subpoena or similar legal process, (iv) to any other party to this Agreement, (v) in connection with the exercise of any remedies hereunder or under any other Financing Document or any suit, action or
proceeding relating to this Agreement or any other Financing Document or the enforcement of rights hereunder or 
  

 - 87 - 
 Monongahela Power Company Credit Agreement 

 
thereunder, (vi) subject to an agreement containing provisions substantially the same as those of this Section 8.12, to any assignee or pledgee of or participant in, or any
prospective assignee or pledgee of or participant in, any of its rights or obligations under this Agreement, including in the case of any securitization or collateralization of, or other similar transaction relating to the rights and obligations of
any Lender or Lenders hereunder, disclosure to any necessary Person in connection with such securitization, collateralization or other transaction (including any funding vehicle organized to undertake or effectuate such securitization,
collateralization or other transaction, its lenders, sureties, reinsurers, swap counterparties, guarantors or credit liquidity enhancers, their respective directors, officers, and advisors, and any rating agency or to any credit insurance provider
relating to the Borrower and its Obligations), so long as the Persons to whom such disclosure is made will be informed of the confidential nature of such Confidential Information and such Persons have agreed in writing (or with respect to any rating
agency, in writing or otherwise) to keep such Confidential Information confidential on substantially the same terms as provided herein, (vii) to the extent such Confidential Information (A) is or becomes generally available to the public
on a non-confidential basis other than as a result of a breach of this Section 8.12 by the Administrative Agent, such Arranger Party or such Lender Party, or (B) is or becomes available to the Administrative Agent, such Arranger
Party or such Lender Party on a nonconfidential basis from a source other than a Borrower and (viii) with the consent of the Borrower. 
 (b) Neither the Administrative Agent, any Arranger Party nor any Lender Party shall, without the prior written consent of the Borrower, use, either directly or indirectly, any of the Confidential
Information except in connection with this Agreement and the other Financing Documents and the transactions contemplated hereby and thereby. 
 (c) Notwithstanding the foregoing, any of the parties hereto may disclose to any and all Persons, without limitation of any kind, the U.S. tax treatment and U.S. tax structure of the transactions
contemplated by this Agreement and the other Financing Documents and all materials of any kind (including opinions or other tax analyses) that are provided to such parties relating to such U.S. tax treatment and U.S. tax structure. 
 (d) In the event that the Administrative Agent, any Arranger Party or any Lender Party becomes legally compelled to disclose any of the
Confidential Information otherwise than as contemplated by Section 8.12(a), the Administrative Agent, such Arranger Party or such Lender Party shall provide the Borrower with notice of such event promptly upon its obtaining knowledge
thereof (provided that it is not otherwise prohibited by Applicable Law from giving such notice) so that the Borrower may seek a protective order or other appropriate remedy. In the event that such protective order or other remedy is not
obtained, the Administrative Agent, such Arranger Party or such Lender Party shall furnish only that portion of the Confidential Information that it is legally required to furnish and shall cooperate with the Borrower’s counsel to enable the
Borrower to obtain a protective order or other reliable assurance that confidential treatment will be accorded the Confidential Information. 
 (e) In the event of any breach of this Section 8.12, the Borrower shall be entitled to equitable relief (including injunction and specific performance) in addition to all other remedies
available to it at law or in equity. 
  

 - 88 - 
 Monongahela Power Company Credit Agreement 

 (f) Neither the Administrative Agent, any Arranger Party nor any Lender Party shall make any
public announcement, advertisement, statement or communication regarding the Borrower, its Affiliates (insofar as such announcement, advertisement, statement or communication relates to the Borrower or the transactions contemplated hereby) or this
Agreement or the transactions contemplated hereby without the prior consent of the Borrower (such consent not to be unreasonably withheld or delayed). 
 (g) The obligations of the Administrative Agent, each Arranger Party and each Lender under this Section 8.12 shall survive for a period of one year following the termination or expiration of
this Agreement. 
 SECTION 8.13. Benefits of Agreement. Nothing in this Agreement or any other Financing Document,
express or implied, shall give to any Person, other than the parties hereto, each Indemnified Party and each of their successors and permitted assigns under this Agreement or any other Financing Document, any benefit or any legal or equitable right
or remedy under this Agreement; provided that each Indemnified Party and its successors and assigns shall not have any benefit or any legal or equitable right or remedy under this Agreement other than as provided by
Section 8.04(b). 
 SECTION 8.14. Severability. If any provision of this Agreement shall be invalid, illegal
or unenforceable, then to the extent permitted by law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 8.15. Limitations. (a) The obligations, liabilities or responsibilities of any party hereunder shall be limited to those
obligations, liabilities or responsibilities expressly set forth and attributed to such party pursuant to this Agreement or otherwise applicable under Applicable Law. 
 (b) In no event shall any Indemnified Party be liable for, and the Borrower hereby agrees not to assert any claim against any Indemnified Party, on any theory of liability, for, consequential, incidental,
indirect, punitive or special damages arising out of or otherwise relating to the Notes, this Agreement, the other Financing Documents, any of the transactions contemplated herein or therein or the actual or proposed use of the proceeds of the
Advances or L/C Credit Extensions. 
 SECTION 8.16. Survival. Notwithstanding anything in this Agreement to the contrary,
Sections 7.05, 7.08, 7.12, 8.04, 8.09, 8.10, 8.11, 8.12, 8.15 and 8.16 shall survive any termination of this Agreement. In addition, each representation and warranty made or
deemed to be made hereunder shall survive the making of such representation and warranty, and no Lender Party shall be deemed to have waived, by reason of making any Advance or making any payment pursuant thereto, any Default that may arise by
reason of such representation or warranty proving to have been false or misleading, notwithstanding that such Lender Party may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time
such Advance or L/C Credit Extension was made. 
  

 - 89 - 
 Monongahela Power Company Credit Agreement 

 SECTION 8.17. USA Patriot Act Notice. Each of the Lender Parties and the
Administrative Agent (for itself and not on behalf of any Lender Party) hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender Party or the
Administrative Agent, as applicable, to identify the Borrower in accordance with the Act. 
 SECTION 8.18. No Fiduciary
Duty. Each Agent, each Lender and their Affiliates (collectively, solely for purposes of this paragraph, the “Lenders”), may have economic interests that conflict with those of the Borrower, its stockholders and/or its
affiliates. The parties hereto acknowledge and agree that (i) the transactions contemplated by the credit documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between
the Lenders, on the one hand, and the Borrower, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Lender has assumed an advisory or fiduciary responsibility in favor of the Borrower, its
stockholders or its affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising or
will advise the Borrower, its stockholders or its Affiliates on other matters) or any other obligation to the Borrower except the obligations expressly set forth in the credit documents and (y) each Lender is acting solely as principal and not
as the agent or fiduciary of the Borrower, its management, stockholders, creditors or any other Person. The Borrower acknowledges and agrees that the Borrower has consulted its own legal and financial advisors to the extent it deemed appropriate and
that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. 
 [Signature Pages Follow] 
  

 - 90 - 
 Monongahela Power Company Credit Agreement 

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

			
	MONONGAHELA POWER COMPANY,
	        as Borrower
		
	By	 	 /s/ Barry E. Pakenham

	Name:	 	Barry E. Pakenham
	Title:	 	Treasurer

			
	THE BANK OF NOVA SCOTIA,
	 as Administrative Agent as an Initial Lender and as an Initial Issuing Bank

		
	By	 	 /s/ Thane Rattew

	Name:	 	Thane Rattew
	Title:	 	Managing Director

 Mon Power Credit Agreement 

			
	UNION BANK, N.A,
	 as Syndication Agent, as an Initial Lender and as an Initial Issuing Bank

		
	By	 	 /s/ John Guilds

	Name:	 	John Guilds
	Title:	 	Vice President

 Mon Power Credit Agreement 

			
	BNP PARIBAS,
	 as an Initial Lender

		
	By	 	 /s/ Denis O’Meara

	Name:	 	Denis O’Meara
	Title:	 	Managing Director
		
	By	 	 /s/ Francis J. Delaney

	Name:	 	Francis J. Delaney
	Title:	 	Managing Director

 Mon Power Credit Agreement 

			
	BANK OF AMERICA, N.A,
	 as an Initial Lender

		
	By	 	 /s/ Jacob Dowden

	Name:	 	Jacob Dowden
	Title:	 	Vice President

 Mon Power Credit Agreement 

			
	PNC BANK, NATIONAL ASSOCIATION,
	 as an Initial Lender

		
	By	 	 /s/ Tracy J. DeCock

	Name:	 	Tracy J. DeCock
	Title:	 	Vice President

 Mon Power Credit Agreement 

 EXHIBIT A 
 MONONGAHELA CREDIT AGREEMENT 
 FORM OF NOTE 
  

			
	$                    	 	Dated:              ,
        

 FOR VALUE RECEIVED, the undersigned, MONONGAHELA POWER COMPANY, an Ohio corporation,
HEREBY PROMISES TO PAY                      (the “Lender”) for the account of its Applicable Lending Office (as
defined in the Credit Agreement referred to below) the aggregate principal amount of the Advances (as defined in the Credit Agreement referred to below) owing to the Lender by the Borrower pursuant to the Credit Agreement dated as of
December 18, 2009, (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein, unless otherwise defined herein, being used herein as therein
defined) among the Borrower, the financial institutions referred to therein as Lenders, the Initial Issuing Banks and The Bank of Nova Scotia, as Administrative Agent, on the Final Maturity Date and at such other times specified therein. 

The Borrower promises to pay interest on the unpaid principal amount of each Advance from the date of such Advance until such principal
amount is paid in full, at such interest rates, and payable at such times, as are specified in the Credit Agreement. 
 Both principal and interest are payable in lawful money of the United States of America to The Bank of Nova Scotia, as Administrative Agent, at One Liberty Plaza, 26th Floor, New York, New York 10006, in immediately available funds.
Each Advance owing to the Lender by the Borrower, and all payments made on account of principal thereof, shall be recorded by the Lender and, prior to any transfer hereof, endorsed on the grid attached hereto, which is part of this Note;
provided, however, that the failure of the Lender to make any such recordation or endorsement shall not affect the Obligations of the Borrower under this Note. 
 This Note is one of the Notes referred to in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for the making of Advances by the Lender
to the Borrower in an aggregate amount not to exceed at any time outstanding the Dollar amount first above mentioned, the indebtedness of the Borrower resulting from each such Advance being evidenced by this Note, and (ii) contains provisions
for acceleration of the maturity hereof upon the happening of certain stated events and also for repayments and prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. 
 Mon Power Credit Agreement 

 THIS PROMISSORY NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. 
  

			
	MONONGAHELA POWER COMPANY
		
	By	 	  

	Name:	 	
	Title:	 	

 Mon Power Credit Agreement 

 ADVANCES AND PAYMENTS OF PRINCIPAL 
  

									
	 Date
	  	 Amount of
 Advance
	  	 Amount of
 Principal Paid
 or Prepaid
	  	 Unpaid
 Principal
 Balance
	  	 Notation
 Made By

  
 Mon Power Credit Agreement

 EXHIBIT B 
 MONONGAHELA CREDIT AGREEMENT 
 FORM OF NOTICE OF BORROWING 
 The Bank of Nova Scotia, 
 as Administrative Agent

 under the Credit Agreement 
 referred
to below 
 [Date] 
  

			
	 Attention:
	 	                    

 Ladies and Gentlemen: 
 The undersigned, MONONGAHELA POWER COMPANY, refers to the Credit Agreement dated as of December 18, 2009 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”; the terms defined therein being used herein as therein defined), among the undersigned, the financial institutions referred to therein as Lenders, the Initial Issuing Banks, and The Bank of Nova Scotia, as
Administrative Agent, and hereby gives you notice, irrevocably, pursuant to Section 2.02 of the Credit Agreement that the undersigned hereby requests a Borrowing (the “Proposed Borrowing”), under the Credit Agreement,
and in that connection sets forth below the information relating thereto as required by Section 2.02(a) of the Credit Agreement: 
  

	 	(a)	The Business Day of the Proposed Borrowing is
[                    ]. 

  

	 	(b)	The Type of Advances comprising the Proposed Borrowing is [Base Rate Advances] [Eurodollar Rate Advances]. 

  

	 	(c)	[The initial Interest Period for each Eurodollar Rate Advance made as part of the Proposed Borrowing is
[                    ] [[one week][month[s]]]. 

  

	 	(d)	The aggregate amount of the Proposed Borrowing is $[            ]. 

  

 Mon Power Credit Agreement 
 B-1 

 The undersigned hereby certifies that the following statements are true on the date hereof,
and will be true on the date of the Proposed Borrowing: 
 (A) The representations and warranties contained in
Article IV of the Credit Agreement (except, in the case of a Proposed Borrowing other than the Initial Borrowing, clause (e), clause (f)(ii) and the final sentence in clause (f)(i) of Section 4.01 of the Credit Agreement) are correct on and as
of the date of the Proposed Borrowing, before and after giving effect to the Proposed Borrowing and to the application of the proceeds therefrom, as though made on and as of such date, other than any such representations or warranties that, by their
terms, refer to a specific date other than the date of the Proposed Borrowing, in which case, as of such specific date. 
 (B) No Default has occurred and is continuing, or would result from such Proposed Borrowing or from the application of the proceeds therefrom. 
 Delivery of an executed counterpart of this Notice of Borrowing by telecopier or electronic mail shall be effective as delivery of an original executed counterpart of this Notice of Borrowing. 

 

			
	Very truly yours,
	
	MONONGAHELA POWER COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 Mon Power Credit Agreement 
 B-2 

 EXHIBIT C 
 MONONGAHELA CREDIT AGREEMENT 
 FORM OF ASSIGNMENT AND ACCEPTANCE 

Reference is made to the Credit Agreement, dated as of December 18, 2009, (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”; the terms defined therein, unless otherwise defined herein, being used herein as therein defined) among MONONGAHELA POWER COMPANY, an Ohio corporation, (the
“Borrower”), the financial institutions referred to therein as Lenders and Initial Issuing Banks, and The Bank of Nova Scotia, as Administrative Agent. 
 [                    ] (the “Assignor”) and
[                    ] (the “Assignee”) each agrees severally with respect to all information relating
to it and its assignment hereunder and on Schedule 1 hereto as follows: 
 The Assignor hereby sells and assigns, without
recourse except as to the representations and warranties made by it herein, to the Assignee, and the Assignee hereby purchases and assumes from the Assignor, an interest in and to the Assignor’s rights and obligations under the Credit Agreement
as of the date hereof equal to the percentage interest specified on Schedule 1 hereto of all outstanding rights and obligations under the Credit Agreement [and, if the Assignor is an Issuing Bank, all of the Assignor’s rights and obligations
under the Credit Agreement as an Issuing Bank]. After giving effect to such sale and assignment, the Assignee’s Commitment and the amount of Advances owing to the Assignee will be as set forth on Schedule 1 hereto. 
 The Assignor (i) represents and warrants that it is the legal and beneficial owner of the interest or interests being assigned by it
hereunder and that such interest or interests are free and clear of any adverse claim; (ii) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection
with any Financing Document or the execution, legality, validity, enforceability, genuineness, sufficiency or value of, or the perfection or priority of any lien or security interest created or purported to be created under or in connection with,
any Financing Document or any other instrument or document furnished pursuant thereto; (iii) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower or the performance or
observance by the Borrower of any of its obligations under any Financing Document or any other instrument or document furnished pursuant thereto; and (iv) attaches the Note (if any) held by the Assignor and requests that the Administrative
Agent exchange such Note (if any) for a new Note payable to the order of the Assignee in an amount equal to the Commitment assumed by the Assignee pursuant hereto or new Notes payable to the order of the Assignee in an amount equal to the Commitment
assumed by the Assignee pursuant hereto and the Assignor in an amount equal to the Commitment retained by the Assignor under the Credit Agreement, respectively, as specified on Schedule 1 hereto. 
 The Assignee (i) confirms that it has received a copy of the Credit Agreement and each of the other Financing Documents, together with
copies of the financial statements referred to in Sections 3.01 and 5.04 of the Credit Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this 

 

 Mon Power Credit Agreement 
 C-1 

 
Assignment and Acceptance; (ii) agrees that it will, independently and without reliance upon the Administrative Agent, the Assignor or any other Lender or Arranger Party and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any other Financing Document; (iii) confirms that it is an Eligible
Assignee; (iv) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Financing Documents as are delegated to the Administrative Agent, respectively, by
the terms thereof, together with such powers and discretion as are reasonably incidental thereto; (v) agrees that it will perform in accordance with their terms all of the obligations that by the terms of the Financing Documents are required to
be performed by it as a Lender; and (vii) attaches any U.S. Internal Revenue Service forms required under Section 2.13 of the Credit Agreement. 
 Following the execution of this Assignment and Acceptance, it will be delivered to the Administrative Agent for acceptance and recording by the Administrative Agent. The effective date for this Assignment
and Acceptance (the “Effective Date”) shall be the date of acceptance hereof by the Administrative Agent, unless otherwise specified on Schedule 1 hereto. 
 Upon such acceptance and recording by the Administrative Agent, as of the Effective Date, (i) the Assignee shall be a party to the
Credit Agreement and, to the extent provided in this Assignment and Acceptance, have the rights and obligations of a Lender thereunder and (ii) the Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights
and be released from its obligations under the Financing Documents (other than its rights and obligations under the Financing Documents that are specified under the terms of such Financing Documents to survive the payment in full of the Obligations
of the Borrower under the Financing Documents to the extent any claim thereunder relates to an event arising prior to the Effective Date of this Assignment and Acceptance) and, if this Assignment and Acceptance covers all of the remaining portion of
the rights and obligations of the Assignor under the Credit Agreement, the Assignor shall cease to be a party thereto. 
 Upon
such acceptance and recording by the Administrative Agent, from and after the Effective Date, the Administrative Agent shall make all payments under the Credit Agreement and the Notes (if any) in respect of the interest assigned hereby (including
all payments of principal, interest and commitment fees with respect thereto) to the Assignee. The Assignor and the Assignee shall make all appropriate adjustments in payments under the Credit Agreement and the Notes (if any) for periods prior to
the Effective Date directly between themselves. 
 This Assignment and Acceptance shall be governed by, and construed in
accordance with, the laws of the State of New York. 
 This Assignment and Acceptance may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart
of Schedule 1 to this Assignment and Acceptance by telecopier shall be effective as delivery of an original executed counterpart of this Assignment and Acceptance. 
  

 Mon Power Credit Agreement 
 C-2 

 IN WITNESS WHEREOF, the Assignor and the Assignee have caused Schedule 1 to this
Assignment and Acceptance to be executed by their officers thereunto duly authorized as of the date specified thereon. 
  

 Mon Power Credit Agreement 
 C-3 

 SCHEDULE 1 
 TO 
 ASSIGNMENT AND ACCEPTANCE 
  

																					
	 ASSIGNOR:
	  				 				 				 				 			
	 Facility
	  				 				 				 				 			
	 Percentage interest assigned
	  	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 
	 Commitment assigned
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  
	 Aggregate outstanding principal amount of Advances assigned
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  
	 Principal amount of Note (if any) payable to Assignor
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  
	 Letters of Credit
	  				 				 				 				 			
	 Percentage interest assigned
	  	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 
	 L/C Credit Extensions assigned
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  
	 Aggregate outstanding principal amount of L/C Advances assigned
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  
						
	 ASSIGNEE:
	  				 				 				 				 			
	 Facility
	  				 				 				 				 			
	 Percentage interest assumed
	  	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 
	 Commitment assumed
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	 	  	 	$	                	  
	 Aggregate outstanding principal amount of Advances assumed
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	 	  	 	$	                	  
	 Principal amount of Note (if any) payable to Assignee
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	 	  	 	$	                	  
	 Letters of Credit
	  				 				 				 				 			
	 Percentage interest assumed
	  	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 	 	 	    	% 
	 L/C Credit Extensions assumed
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  
	 Aggregate outstanding principal amount of L/C Advances assumed
	  	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  	 	$	                	  

  

 Mon Power Credit Agreement 
 C-4 

 Effective Date (if other than date of acceptance by Administrative Agent): 
 *             ,          
  

			
	Assignor
	
	                                       
                             , as Assignor
	[Type or print legal name of Assignor]
		
	By	 	  

	Name:	 	
	Title:	 	
		
	Dated:	 	             ,         
	
	Assignee
	
	                                       
                             , as Assignee
	[Type or print legal name of Assignee]
		
	By	 	  

	Name:	 	
	Title:	 	
		
	Dated:	 	             ,         
	
	 Domestic Lending Office:

	
	Eurodollar Lending Office:

  

			
	[Accepted and Approved this      day of         ,         

	
	THE BANK OF NOVA SCOTIA,
	 as Administrative Agent

		
	By	 	  

	Name:	 	
	Title:]1	 	
	
	 [MONONGAHELA POWER COMPANY,
 as Borrower

		
	By	 	  

	Name:	 	
	Title:]2	 	

  
  

	*	This date should be no earlier than five Business Days after the delivery of this Assignment and Acceptance to the Administrative Agent. 

	1	 To the extent required. 

	2	 To the extent required. 

  

 Mon Power Credit Agreement 
 C-5

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