Document:

Exhibit 10.2

      

     

      

    JOINDER AND AMENDMENT NO. 4 TO CREDIT AND GUARANTY AGREEMENT

     

      

    JOINDER AND AMENDMENT NO. 4, dated as of October 8, 2019 (this “Amendment”), by and among TERRAFORM POWER OPERATING, LLC a Delaware limited liability company (the “Borrower”), TERRAFORM POWER, LLC, a
      Delaware limited liability company (“Holdings”), CERTAIN SUBSIDIARIES OF BORROWER, as Guarantors, and HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative
      Agent (together with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent (together with its permitted successors in
      such capacity, the “Collateral Agent”), HSBC BANK CANADA, BANK OF MONTREAL, THE BANK OF NOVA SCOTIA, NATIXIS SECURITIES AMERICAS LLC, RBC CAPITAL MARKETS1
      and SUMITOMO MITSUI BANKING CORPORATION, as joint lead arrangers and joint bookrunners (the “Arrangers”), each Lender and Issuing Bank under the Credit
      Agreement (as defined below) immediately prior to the occurrence of the Amendment No. 4 Effective Date (as defined below) (each such Lender, an “Existing Lender”) and CITIBANK, N.A., MUFG Union Bank, N.A., and Banco Santander S.A., New York Branch
      (each a “New Lender” and together, the “New Lenders”), to the Credit
      and Guaranty Agreement, dated as of October 17, 2017, by and among the Borrower, Holdings, the Guarantors party thereto, the Administrative Agent and the Arrangers (as amended by the First Amendment to Credit and Guaranty Agreement, dated as of
      November 6, 2017, the Joinder Agreement, dated as of February 6, 2018, the Joinder and Second Amendment to Credit and Guaranty Agreement, dated as of April 27, 2018, and Amendment No. 3 to Credit and Guaranty Agreement, dated as of October 5, 2018
      and as further amended, amended and restated, supplemented or otherwise modified from time to time through the date hereof, the “Credit Agreement” and, as
      amended by this Amendment, the “Amended Credit Agreement”).  Terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
      Credit Agreement unless otherwise defined herein.

     

        

    W I T N E S S E
        T H:

     

    

    WHEREAS, the Borrower desires to amend the Credit Agreement on the terms set forth herein and pursuant to Section 10.5 of the Credit
      Agreement;

     

    

    WHEREAS, subject to the terms and conditions of the Credit Agreement, at the request of the Borrower, each New Lender desires to become a Lender under the Credit Agreement; and

     

    

    WHEREAS, HSBC BANK USA, NATIONAL ASSOCIATION (acting through such of its affiliates or branches as it deems appropriate) has been
      appointed as the Amendment No. 4 Arranger and is acting as lead arranger and bookrunner for this Amendment (in such capacity, the “Amendment No. 4 Arranger”).

     

    

    NOW, THEREFORE, the parties hereto hereby agree as follows:

     

    

    ARTICLE I

      

      Amendments and New Lenders

     

        

    Section 1.1.        Approval of Credit Documents.   Each New Lender (i) confirms that it has received a copy of the Credit Agreement and the other Credit Documents, together with
        copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment and it is sophisticated with respect to decisions
        to make loans similar to those contemplated to be made hereunder and it is experienced in making loans of such type; (ii) agrees that it will, independently and without reliance upon Administrative Agent or any other Lender or Agent 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; (iii) appoints and authorizes Administrative Agent and Collateral Agent to
        take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are delegated to Administrative Agent and Collateral Agent, as the case may be, by the terms thereof, together with
        such powers as are reasonably incidental thereto; and (iv) agrees that it is a Lender under the Credit Agreement and will perform in accordance with its terms all of the obligations which by the terms of the Credit Agreement are required to be
        performed by it as a Lender.

     

      

    
    

    1 RBC Capital Markets is a brand name for the capital markets businesses of Royal Bank of Canada and its affiliates.

     
    
      
        

    

    
    Section 1.2.         Commitment. Each New Lender hereby severally agrees to commit to provide its Revolving Commitment under the Credit Agreement and each Existing Lender hereby
        acknowledges its respective Revolving Commitment under the Credit Agreement, in each case, as set forth on Schedule A annexed hereto, on the terms and subject to the conditions set forth below, on October 8, 2019.  Notwithstanding the foregoing,
        the effectiveness of the Revolving Commitments set forth in Schedule A shall be conditioned upon the occurrence of the Amendment No. 4 Effective Date.

     

      

    Section 1.3.        New Lenders.   Each New Lender acknowledges and agrees that upon its execution of this Amendment that such New Lender shall become a “Lender” and an “Issuing Bank”
        under, and for all purposes of, the Credit Agreement and the other Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender and an Issuing Bank
        thereunder.

     

      

    Section 1.5.         Pro Rata Reallocation.  On the
            Amendment No. 4 Effective Date, (a) each of the Existing Lenders shall assign to each of the New Lenders, and (b) each of the New Lenders shall purchase from each of the Existing Lenders, at the principal amount thereof (together with accrued
            interest), such interests in the Revolving Loans outstanding on the Amendment No. 4 Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans will be held by Existing
            Lenders and New Lenders ratably in accordance with their Revolving Commitments after giving effect to the Revolving Commitments of the New Lenders.

     

      

    Section 1.6.         Amendments.

     

      

    Subject to satisfaction (or waiver) of the conditions set forth in Article III hereof, on the Amendment No. 4 Effective Date, (i) this Amendment shall be a Credit Document (each under and as defined in the Credit Agreement) and (ii) the Credit Agreement shall be amended as
      follows:

     

    

    
      
        (a)         The second “WHEREAS” clause in the Recitals shall be deleted in its entirety and replaced as
          follows:

      

    

     

    

    WHEREAS, Lenders have agreed to extend a revolving credit facility to Borrower, in an aggregate principal amount not to exceed
      $800,000,000, the proceeds of which will be used in accordance with Section 2.6;

     

    

    
      
        (b)         The following defined terms are hereby added to Section 1.01 of the Credit Agreement in
          alphabetical order:

      

    

     

    

    “Amendment No. 4” means
      Joinder and Amendment No. 4 to this Agreement, dated as of October 8, 2019.

     

    

    “Amendment No. 4 Arranger”
      means HSBC Bank USA, National Association, as joint lead arranger and joint bookrunner in connection with Amendment No. 4.

     

    

    “Amendment No. 4 Effective Date”
      means October 8, 2019, the date of effectiveness of Amendment No. 4.

    
      - 2 -

      
        

    

    “LIBOR Discontinuance Event”
      means any of the following:

     

      

    (a)         an interest rate
        is not ascertainable pursuant to the provisions of the applicable clause of the definition of “Adjusted Eurocurrency Rate” and the inability to ascertain such rate is unlikely to be temporary;

    

    

     

      

    (b)        the regulatory
        supervisor for the administrator of the LIBO Screen Rate, the central bank for the currency of the LIBO Screen Rate, an insolvency official with jurisdiction over
        the administrator for the LIBO Screen Rate, a resolution authority with jurisdiction over the administrator for the LIBO Screen Rate or a court or an entity with similar insolvency or resolution authority over the administrator for the LIBO Screen
        Rate, has made a public statement, or published information, stating that the administrator of the LIBO Screen Rate has ceased or will cease to provide the LIBO Screen Rate permanently or indefinitely on a specific date, provided that, at that
        time, there is no successor administrator that will continue to provide the LIBO Screen Rate; or

    

    

    (c)         the administrator of the
        LIBO Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent or the administrator of the LIBO Screen Rate has made a public statement identifying a specific date after which the LIBO Screen Rate shall no longer be
        made available, or used for determining the interest rate of loans; provided that, at that time, there is no successor administrator that will continue to
        provide the LIBO Screen Rate (the date of determination or such specific date in the foregoing clauses (a)-(c), the “Scheduled Unavailability Date”)

    

    

     “LIBOR Discontinuance Event Time” means, with
      respect to any LIBOR Discontinuance Event, (i) in the case of an event under clause (a) of such definition, the Business Day immediately following the date of determination that such interest rate is not ascertainable and such result is unlikely to
      be temporary and (ii) for purposes of an event under clause (b) or (c) of such definition, on the date on which the LIBO Screen Rate or the rate determined pursuant to clause (a)(ii) of the definition of “Adjusted Eurocurrency Rate” ceases to be
      provided by the administrator of the LIBO Screen Rate or is not permitted to be used (or (x) if such statement or information is of a prospective cessation or prohibition, the ninetieth (90th) day prior to the date of such cessation or
      prohibition, or (y) if such prospective cessation or prohibition is fewer than ninety (90) days later, the date of such statement or announcement).

    

    

    “LIBOR Replacement Date” means, in respect of
      any Eurocurrency Rate Loan, upon the occurrence of a LIBOR Discontinuance Event, the next interest reset date after the relevant amendment in connection therewith becomes effective (unless an alternative date is specified) and all subsequent interest
      reset dates for which the rate determined pursuant to the definition of “Adjusted Eurocurrency Rate” would have had to be determined.

     

    

    “Relevant Governmental Sponsor” means any
      central bank, reserve bank, monetary authority or similar institution (including any committee or working group sponsored thereby) which shall have selected, endorsed or recommended a replacement rate, including relevant adjustments (which may be a
      positive or negative value or zero), for the rate determined pursuant to clause (a) of the definition of “Adjusted Eurocurrency Rate”.

     

    

    “Successor Benchmark Rate” has the meaning
      assigned to such term in Section 2.18(a)(i).

     

    

    
      
        (c)         The definition of “Credit Document” in Section 1.01 of the Credit Agreement is hereby amended
          by replacing the word “and” that is immediately before “all” with a comma and inserting the following:  “Amendment No. 4, and”.

      

    

    
      
         

          

        (d)         The definition of “Letter of Credit Sublimit” in Section 1.01 of the Credit Agreement is
          hereby deleted in its entirety and replaced as follows:

         

        

      

    

    “Letter of Credit Sublimit” means the lesser
      of (i) $300,000,000 and (ii) the aggregate unused amount of the Revolving Commitments then in effect.

    
      
         

          

        (e)         The definition of “Letter of Credit Sublimit Pro Rata Share” in Section 1.01 of the Credit
          Agreement is hereby deleted in its entirety and replaced as follows:

         

        

      

    

    “Letter of Credit Sublimit Pro Rata Share”
      means $75,000,000 for each of BNS, HSBC Canada, Natixis and Wells Fargo.

    
      
        
          - 3 -

          
            

        

        (f)          The definition of “Maturity Date” in Section 1.01 of the Credit Agreement is hereby deleted
          in its entirety and replaced as follows:

         

        

      

    

    “Maturity Date” means October 5, 2024.

    
      
         

          

        (g)         The definition of “Revolving Commitment” in Section 1.01 of the Credit Agreement is hereby
          deleted in its entirety and replaced as follows:

         

        

      

    

    “Revolving Commitment” means the commitment
      of a Lender to make or otherwise fund any Revolving Loan and to acquire participations in Letters of Credit hereunder and “Revolving Commitments” means such commitments of all Lenders in the aggregate and, for the avoidance of doubt, includes any New
      Revolving Loan Commitments.  The amount of each Lender’s Revolving Commitment, if any, is set forth on Appendix A or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the
      terms and conditions hereof.  The aggregate amount of the Revolving Commitments as of the Amendment No. 4 Effective Date is $800,000,000.

    
      
         

          

        (h)         Section 1 of the Credit Agreement is hereby amended to include a new Section 1.7 as follows:

         

        

      

    

    Section 1.7 Delaware Divisions. For all purposes under the Credit Documents, in connection with any division or plan of division under
      Delaware law (or any comparable event under a different jurisdiction’s laws): (i) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been
      transferred from the original Person to the subsequent Person, and (ii) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its equity interests at such
      time.

    
      
         

          

        (i)          Section 2.18 of the Credit Agreement is hereby amended by adding the following as a new
          clause (f):

         

        

      

    

    “(f)        Inability to Determine Applicable Interest Rate;  Successor Benchmark Rate.

     

        

    (i)          If at any time (A) the
        Administrative Agent determines in good faith (which determination shall be conclusive absent manifest error) or (B) the Borrower or Requisite Lenders notify the Administrative Agent in writing (with, in the case of the Requisite Lenders, a copy to
        the Borrower) that the Borrower or Requisite Lenders (as applicable) have determined that a LIBOR Discontinuance Event has occurred, then, at or
        promptly after the LIBOR Discontinuance Event Time, the Administrative Agent and Borrower shall endeavor to establish an alternate benchmark rate to replace the rate determined pursuant to the applicable clause of the definition of “Adjusted
        Eurocurrency Rate”, together with any adjustment to be applied to such alternate benchmark rate to account for the effects of transition from the rate determined pursuant to the applicable clause of the definition of “Adjusted Eurocurrency Rate” to
        such alternate benchmark rate (which may be a positive or negative value or zero), giving due consideration to the then prevailing market convention for determining a rate of interest (including the making of other appropriate adjustments to such
        alternate benchmark rate and this Agreement to account for the effects of transition from the rate determined pursuant to the applicable clause of the definition of “Adjusted Eurocurrency Rate” to such replacement benchmark, including any changes
        necessary to reflect the available interest periods and timing for determining such alternate benchmark rate) for comparable loans of this type in the United States at such time and any recommendations (if any) therefor by a Relevant Governmental
        Sponsor, provided that any such alternate benchmark rate and adjustments shall be required to be commercially practicable for the
        Administrative Agent to administer (as determined by the Administrative Agent in its sole discretion) (any such rate, the “Successor Benchmark Rate”).

    
      - 4 -

      
        

    

    (ii)        After such determination
        that a LIBOR Discontinuance Event has occurred, promptly following the LIBOR Discontinuance Event Time, the Administrative Agent and the Borrower shall enter into an amendment to this Agreement to reflect such Successor Benchmark Rate and such
        other related changes to this Agreement as may be necessary or appropriate, as the Administrative Agent may determine in good faith (which determination shall be conclusive absent manifest error), to implement and give effect to the Successor
        Benchmark Rate under this Agreement on the LIBOR Replacement Date and, notwithstanding anything to the contrary in Section 10.5, such amendment shall become effective for all Lenders without any further action or consent of any other party to this
        Agreement on the fifth (5th) Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Borrower unless, prior to such time, Lenders comprising the Requisite Lenders have delivered to the
        Administrative Agent written notice that such Requisite Lenders do not accept such amendment; provided, that if a Successor Benchmark Rate has
        not been established pursuant to the foregoing, at the option of the Borrower, the Borrower and the Requisite Lenders may select a different Successor Benchmark Rate that is commercially practicable for the Administrative Agent to administer (as
        determined by the Administrative Agent in its sole discretion) and, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent, the Administrative Agent, such Requisite Lenders and the Borrower shall enter into an
        amendment to this Agreement to reflect such Successor Benchmark Rate and such other related changes to this Agreement as may be applicable and, notwithstanding anything to the contrary in Section 10.5, such amendment shall become effective without
        any further action or consent of any other party to this Agreement; provided, further,
        that if no Successor Benchmark Rate has been determined pursuant to the foregoing and a Scheduled Unavailability Date (as defined in the definition of LIBOR Discontinuance Event) has occurred, the Administrative Agent will promptly so notify the
        Borrower and each Lender and thereafter, until such Successor Benchmark Rate has been determined pursuant to this paragraph, the provisions of Section 2.18(a)
        shall apply until a Successor Benchmark Rate has been chosen pursuant to this paragraph. Notwithstanding anything else herein, any definition of Successor Benchmark Rate shall provide that in no event shall such Successor Benchmark Rate be less
        than zero for purposes of this Agreement.

     

      

    (iii)        This Section 2.18(f) shall supersede any provisions of Section 10.5 to the contrary solely to the extent provided in this Section 2.18(f).”

     

    

    
      
         (j)         Section 2.24 of the Credit Agreement is hereby amended by deleting the first sentence therein
          and replacing it with “Borrower may by written notice to Administrative Agent elect to request, on and after the Amendment No. 4 Effective Date and prior to the Revolving Commitment Termination Date, an increase to the existing Revolving
          Commitments (any such increase, the “New Revolving Loan Commitments”) by an amount not in excess of $150,000,000 in the aggregate.”

      

    

    
      
         

          

        (k)         Section 9 of the credit agreement is hereby amended to add a new Section 9.11 as follows:

         

        

      

    

    Section 9.11        Certain ERISA
          Matters

     

      

    (a)         Each
        Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, that at least one
        of the following is and will be true:

     

      

    (i)          such Lender is not
        using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise for purposes of Title I of ERISA or Section 4975 of the US Code) of one or more Employee Benefit Plans in connection with the Loans, the Letters of Credit, the
        Commitments or this Agreement;

     

      

    (ii)         the prohibited
        transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving
        insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or
        PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the
        Commitments and this Agreement;

     

      

    
      - 5 -

      
        

    

    (iii)        (A) such Lender is an
        investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14); (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in,
        administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement; (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement
        satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84- 14; and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into,
        participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement; or

     

      

    (iv)        such other
        representation, warranty and covenant as may be agreed in writing between the Arranger, in its sole discretion, and such Lender.

     

      

    (b)         In
        addition, unless either (1) sub-paragraph (a)(i) above is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-paragraph (a)(iv) above, such Lender further (x) represents
        and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, that none of the Administrative Agent,
        the Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise
        of any rights by the Administrative Agent or any Arrangers under this Agreement, any Credit Document or any documents related hereto or thereto).

    

      As used in this Section 9.11, the following term has the following meaning:

     

    

    “PTE” means a prohibited
      transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

    
      
         

          

        (l)          Sections 10.5(a) and (b) of the Credit Agreement are hereby amended by deleting the phrase “(but subject to Sections 2.25 and 2.26)” and replacing it with “(but subject to Sections 2.18(f), 2.25 and 2.26)”.

      

    

    
      
         

          

        (m)        Section 10 of the Credit Agreement is hereby amended to add a new Section 10.26 as follows:

      

    

     

        

    Section 10.26 Acknowledgement
          Regarding Any Supported QFCs. To the extent that the Credit Documents provide support, through a guarantee or otherwise, for any Swap Contract or any other agreement or instrument that is a QFC (such support, “QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and
      agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
      promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable
      notwithstanding that the Credit Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States):

     

    

    In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation
      in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the
      U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or
      a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Credit Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised
      against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Credit Documents were governed by the laws of the United
      States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect
      to a Supported QFC or any QFC Credit Support.

    
      - 6 -

      
        

    

    As used in this Section 10.26, the following terms have the following meanings:

     

    

    “BHC Act Affiliate” of a
      party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.

     

    

    “Covered Entity” means any
      of the following:  (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a
      “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b).

     

    

    “Default Right” has the
      meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

     

      

    “QFC” has the meaning assigned to the term “qualified
      financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).

    
      
         

          

        (n)         Appendix A of the Credit Agreement is hereby deleted in its entirety and replaced as follows:

         

        

      

    

    	
            Lender

          	
            Revolving Commitments

          
	
            HSBC Bank Canada

          	
            $66,666,666.74

          
	
            Barclays Bank PLC

          	
            $66,666,666.66

          
	
            Bank of America, N.A.

          	
            $66,666,666.66

          
	
            Bank of Montreal

          	
            $66,666,666.66

          
	
            The Bank of Nova Scotia

          	
            $66,666,666.66

          
	
            Natixis

          	
            $66,666,666.66

          
	
            Royal Bank of Canada

          	
            $66,666,666.66

          
	
            Sumitomo Mitsui Banking Corporation

          	
            $66,666,666.66

          
	
            Wells Fargo Bank, National Association

          	
            $66,666,666.66

          
	
            CITIBANK, N.A.

          	
            $66,666,666.66

          
	
            MUFG Union Bank, N.A.

          	
            $66,666,666.66

          
	
            Banco Santander S.A., New York Branch

          	
            $66,666,666.66

          
	
            Total:

          	
            $800,000,000.00

          

    
      - 7 -

      
        

    

    ARTICLE II

     

    

    Representations and Warranties

     

      

    In order to induce each Lender to enter into this Amendment and to amend the Credit Agreement in the manner provided herein, each Credit
      Party party hereto represents and warrants to the Administrative Agent, Collateral Agent and the Lenders that:

     

      

    Section 2.1          Organization; Requisite Power and Authority; Qualification.  Each Credit Party and each of the Restricted Subsidiaries (a) is duly organized, validly existing
        and in good standing under the laws of its jurisdiction of organization and (b) has all requisite power and authority (i) to own and operate its properties, (ii) to carry on its business as now conducted and as proposed to be conducted and (iii) to
        enter into this Amendment and to carry out the transactions contemplated hereby, and (c) is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and
        operations, except in jurisdictions where the failure to be so qualified or in good standing has not had, and could not be reasonably expected to have, a Material Adverse Effect.

     

      

    Section 2.2           Due Authorization.  The execution, delivery and performance of this Amendment has been duly authorized by all necessary action on the part of each Credit Party
        that is a party hereto.

     

      

    Section 2.3          No Conflict.  The execution, delivery and performance by each Credit Party party hereto of this Amendment and the consummation of the transactions contemplated
        by this Amendment do not (a) violate (i) any provision of any law or any governmental rule or regulation applicable to any Credit Party or any Subsidiary of Holdings except where such violations could not reasonably be expected to have a Material
        Adverse Effect, (ii) any of the Organizational Documents of Holdings or any of its Subsidiaries, or (iii) any order, judgment or decree of any court or other agency of government binding on Holdings or any of its Subsidiaries except, in this clause (a)(iii), where such violation could not reasonably be expected to have a Material Adverse Effect; (b) conflict with, result in a breach of or constitute
        (with due notice or lapse of time or both) a default under any Contractual Obligation of Holdings or any of its Subsidiaries except to the extent such conflict, breach or default could not reasonably be expected to have a Material Adverse Effect;
        (c) result in or require the creation or imposition of any Lien upon any of the properties or assets of Holdings or any of its Subsidiaries; or (d) require any approval of stockholders, members or partners or any approval or consent of any Person
        under any Contractual Obligation of Holdings or any of its Subsidiaries, except for such approvals or consents which will be obtained on or before the Amendment No. 4 Effective Date and except for any such approvals or consents the failure of which
        to obtain will not have a Material Adverse Effect.

     

      

    Section 2.4         Governmental Consents.  The execution, delivery and performance by each Credit Party party hereto of this Amendment and the consummation of the transactions
        contemplated by this Amendment do not require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority except (a) such as have been obtained or made and are in full force and effect and
        (b) for filings and recordings with respect to the Collateral.

     

      

    Section 2.5          Binding Obligation.  This Amendment has been duly executed and delivered by each Credit Party that is a party hereto and is the legally valid and binding
        obligation of each such Credit Party party hereto, enforceable against each such Credit Party in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting
        creditors’ rights generally or by equitable principles relating to enforceability.

     

      

    ARTICLE III          

        

        Conditions to Effectiveness

     

          

    This Amendment shall become effective on the date (the “Amendment

          No. 4 Effective Date”) on which the following conditions precedent are satisfied (or waived by the Administrative Agent):

    
      
         

          

        (a)         The Administrative Agent (or its counsel) shall have received from (i)  each Revolving Lender
          and Issuing Bank, (ii) each New Lender (iii) the Administrative Agent and Collateral Agent and (iv) each Credit Party, (x) a counterpart of this Amendment signed on behalf of such party or (y) written evidence satisfactory to the Administrative
          Agent (which may include telecopy or other electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

      

    

    
      
         

          

        (b)         The Administrative Agent shall have received (i) such customary resolutions or other action of
          each Credit Party as the Administrative Agent may reasonably require evidencing the authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Amendment and (ii) with respect to
          Borrower and Holdings, such documents and certifications (including, without limitation, incumbency certificates, Organizational Documents and, if applicable, good standing certificates) as the Administrative Agent may reasonably require to
          evidence that each of the Borrower and Holdings is duly organized or formed, and that each of the Borrower and Holdings is validly existing and in good standing and (iii) to the extent applicable in the relevant jurisdiction, bring down good
          standing certificates of each Credit Party dated as of a recent date.

      

    

    
      
        
          - 8 -

          
            

        

        (c)       Holdings, the Borrower and each of the Guarantor Subsidiaries shall have provided the
          documentation and other information reasonably requested in writing at least ten (10) days prior to the Amendment No. 4 Effective Date by the New Lenders as they reasonably determine is required by regulatory authorities in connection with
          applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act, in each case at least three (3) Business Days prior to the Amendment No. 4 Effective Date (or such shorter period as
          the Administrative Agent shall otherwise agree).

      

    

    
      
         

          

        (d)         All costs, fees, expenses (including without limitation legal fees and expenses, title
          premiums, survey charges and recording taxes and fees), in each case solely to the extent required to be paid pursuant to Section 10.2 of the Amended Credit Agreement, and other compensation separately agreed in writing to be payable to the
          Amendment No. 4 Arranger and the Administrative Agent shall have been paid to the extent due (and, in the case of expenses, invoiced in reasonable detail at least two Business Days prior to the Amendment No. 4 Effective Date).

      

    

    
      
         

          

        (e)         The Borrower shall have paid to the Administrative Agent, for the account of  each Existing
          Lender, a fee an amount equal to 0.175% of such Existing Lender’s Revolving Commitment on the Amendment No. 4 Effective Date.

      

    

    
      
         

          

        (f)          After giving effect to this Amendment, (A) the Total Utilization of Revolving Commitments
          shall not exceed the Revolving Commitments then in effect, (B) the representations and warranties of the Borrower and each other Credit Party contained in Section 4 of the Credit Agreement, Article II hereunder and each other Credit Document are true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality) on and as of
          the Amendment No. 4 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (and in all respects if any such
          representation or warranty is already qualified by materiality) as of such earlier date and (C) no Default shall have occurred and be continuing, or would result immediately after giving effect to the provisions of this Amendment on the Amendment
          No. 4 Effective Date that would constitute an Event of Default or a Default.  A Responsible Officer of the Borrower shall have delivered a certificate certifying as to the matters set forth in the preceding clauses (A), (B) and (C).

      

    

    
      
         

          

        (g)        The Administrative Agent shall have received an opinion of Skadden, Arps, Slate, Meagher &
          Flom LLP, special New York and Delaware counsel to the Credit Parties, in form and substance reasonably satisfactory to the Administrative Agent and the Amendment No. 4 Arranger.

         

        

      

    

    ARTICLE IV

      

      Miscellaneous

     

        

    Section 4.1.          Continuing Effect; No Other Amendments or Waivers.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or
        otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Credit Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or
        agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any other Credit Document, all of which are hereby ratified and affirmed in all respects, are valid and enforceable and shall continue in full force and
        effect.  Except as expressly set forth herein, the provisions of the Credit Agreement and the other Credit Documents are and shall remain in full force and effect in accordance with their terms.  The parties hereto acknowledge and agree that the
        amendment of the Credit Agreement pursuant to this Amendment and all other Credit Documents amended and/or executed and delivered in connection herewith shall not constitute a novation of the Credit Agreement and the other Credit Documents as in
        effect prior to the Amendment No. 4 Effective Date.  This Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents.  All references to the Credit Agreement in any document, instrument,
        agreement, or writing shall from after the Amendment No. 4 Effective Date be deemed to refer to the Credit Agreement as amended hereby, and, as used in the Credit Agreement, the terms “Agreement,” “herein,” “hereafter,” “hereunder,” “hereto” and
        words of similar import shall mean, from and after the Amendment No. 4 Effective Date, the Amended Credit Agreement.

    
      - 9 -

      
        

    

    Section 4.2.          Counterparts.  This Amendment may be executed in any number of separate counterparts by the parties hereto (including by telecopy or via electronic mail), each of which counterparts
        when so executed shall be an original, but all the counterparts shall together constitute one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or in electronic format (i.e., “pdf” or
        “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment.

     

      

    Section 4.3.          Headings.  Section and subsection headings in this Amendment are included herein for convenience only and shall not constitute a part of this Amendment for any other purpose or be given
        any substantive effect.

     

      

    Section 4.4.          GOVERNING LAW.  THIS AMENDMENT AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY WHATSOEVER TO THIS AMENDMENT (WHETHER IN CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY, AND
        CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     

      

    Section 4.5.          Jurisdiction; Waiver of Jury Trial.  The provisions of Sections 10.15 and 10.16 of the Credit Agreement pertaining to consent to jurisdiction, service of process and waiver of jury
        trial are hereby incorporated by reference therein, mutatis mutandis.

     

      

    Section 4.6.          Reaffirmation.  Each Credit Party expressly acknowledges that it has reviewed the terms of this Amendment, consents to the amendments to the Credit Agreement effected pursuant to this
        Amendment and reaffirms, as of the date hereof and on the Amendment No. 4 Effective Date, that its guarantee (if applicable) of the Obligations under the Credit Agreement and its grant of Liens on the Collateral to secure the Obligations pursuant
        to each Collateral Document to which it is a party, in each case, continues in full force and effect and extends to the obligations of the Credit Parties under the Credit Documents (including the Amended Credit Agreement) subject to any limitations
        set out in the Amended Credit Agreement and any other Credit Document applicable to that Credit Party.  Neither the execution, delivery, performance or effectiveness of this Amendment nor the modification of the Credit Agreement effected pursuant
        hereto: (i) impairs the validity, effectiveness or priority of the Liens granted pursuant to any Credit Document, and such Liens continue unimpaired with the same priority to secure repayment of all Obligations, whether heretofore or hereafter
        incurred; or (ii) requires that any new filings be made or other action be taken to perfect or to maintain the perfection of such Liens.

     

    

    [Signature Pages Follow]

    
      - 10 -

      
        

    

    
      TERRAFORM POWER, LLC

      TERRAFORM POWER OPERATING, LLC

      SUNEDISON CANADA YIELDCO MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ1 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ2 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ3 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ4 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ6 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ7 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ8 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ9 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ACQ10, LLC

      SUNEDISON YIELDCO CHILE MASTER HOLDCO, LLC

      SUNEDISON YIELDCO DG MASTER HOLDCO, LLC

      SUNEDISON YIELDCO DGS MASTER HOLDCO, LLC

      SUNEDISON YIELDCO DG-VIII MASTER HOLDCO, LLC

      SUNEDISON YIELDCO ENFINITY MASTER HOLDCO, LLC

      SUNEDISON YIELDCO NELLIS MASTER HOLDCO, LLC

      SUNEDISON YIELDCO REGULUS MASTER HOLDCO, LLC

      SUNEDISON YIELDCO UK HOLDCO 3 MASTER HOLDCO, LLC

      SUNEDISON YIELDCO UK HOLDCO 4 MASTER HOLDCO, LLC

      TERRAFORM CD ACQ MASTER HOLDCO, LLC

      TERRAFORM FIRST WIND ACQ MASTER HOLDCO, LLC

      TERRAFORM LPT ACQ MASTER HOLDCO, LLC

      TERRAFORM POWER IVS I MASTER HOLDCO, LLC

      TERRAFORM REC ACQ MASTER HOLDCO, LLC

      TERRAFORM SOLAR MASTER HOLDCO, LLC

      TERRAFORM SOLAR XVII ACQ MASTER HOLDCO, LLC

      TERRAFORM THOR ACQ MASTER HOLDCO, LLC

       

      

      
        	
                By:

              	
                /s/ Michael Tebbutt

              	 
	
                Name:

              	
                Michael Tebbutt

              	 
	
                Title:

              	
                Authorized Representative

              	 

      

    

    

    

    [Signature Page to Amendment No. 4]

    
      
        
          

      

      	 	
              HSBC BANK USA, NATIONAL ASSOCIATION, as

              Administrative Agent and Collateral Agent

            
	 	 
	 	
              By:

            	
              /s/ Keisha McLaughlin

            
	 	
              Name:

            	
              Keisha McLaughlin

            
	 	
              Title:

            	
              AVP

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              HSBC BANK CANADA, as a Revolving Lender and an Issuing Bank

            
	 	 
	 	
              By:

            	
              /s/ Ted Bertoia

            
	 	
              Name:

            	
              Ted Bertoia

            
	 	
              Title:

            	
              Vice President, Global Banking

            

      

      

      	 	
              By:

            	
              /s/ My Le

            
	 	
              Name:

            	
              My Le

            
	 	
              Title:

            	
              Director, Global Banking

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              BANK OF AMERICA, N.A., as a Revolving Lender

            
	 	 
	 	
              By:

            	
              /s/ Maggie Halleland

            
	 	
              Name:

            	
              Maggie Halleland

            
	 	
              Title:

            	
              Vice President

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              BARCLAYS BANK, PLC, as a Revolving Lender

            
	 	 
	 	
              By:

            	
              /s/ Sydney G. Dennis

            
	 	
              Name:

            	
              Sydney G. Dennis

            
	 	
              Title:

            	
              Director

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              BANK OF MONTREAL, as a Revolving Lender

            
	 	 
	 	
              By:

            	
              /s/ Grace Potter

            
	 	
              Name:

            	
              Grace Potter

            
	 	
              Title:

            	
              Director

            

      

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              THE BANK OF NOVA SCOTIA, as a Revolving Lender and an Issuing Bank

            
	 	 
	 	
              By:

            	
              /s/ Kirt Millwood

            
	 	
              Name:

            	
              Kirt Millwood

            
	 	
              Title:

            	
              Managing Director

            

      

      

      	 	
              By:

            	
              /s/ Mathieu Leroux

            
	 	
              Name:

            	
              Mathieu Leroux

            
	 	
              Title:

            	
              Associate Director

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              NATIXIS, NEW YORK BRANCH., as a Revolving Lender and an Issuing Bank

            
	 	 
	 	
              By:

            	
              /s/ Ahmet Urgulu

            
	 	
              Name:

            	
              Ahmet Urgulu

            
	 	
              Title:

            	
              Executive Director

            

      

      

      	 	
              By:

            	
              /s/ Ronald Lee

            
	 	
              Name:

            	
              Ronald Lee

            
	 	
              Title:

            	
              Director

            

      

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              ROYAL BANK OF CANADA, as a Revolving Lender and an Issuing Bank

            
	 	 
	 	
              By:

            	
              /s/ Frank Lambrinos

            
	 	
              Name:

            	
              Frank Lambrinos

            
	 	
              Title:

            	
              Authorized Signatory

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              SUMITOMO MITSUI BANKING CORPORATION, as a Revolving Lender

            
	 	 
	 	
              By:

            	
              /s/ Juan Kreutz

            
	 	
              Name:

            	
              Juan Kreutz

            
	 	
              Title:

            	
              Managing Director

            

      

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              WELLS FARGO BANK, N.A., as a Revolving Lender and an Issuing
                Bank

            
	 	 
	 	
              By:

            	
              /s/ Bobby Ausman

            
	 	
              Name:

            	
              Bobby Ausman

            
	 	
              Title:

            	
              Director

            

      

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              CITIBANK, N.A., as a New Lender

            
	 	 	 
	 	
              By:

            	
              /s/ Greg Kantrowitz

            
	 	
              Name:

            	
              Greg Kantrowitz

            
	 	
              Title:

            	
              Vice President

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              MUFG UNION BANK, N.A., as a New Lender

            
	 	 	 
	 	
              By:

            	
              /s/ Chi-Cheng Chen

            
	 	
              Name:

            	
              Chi-Cheng Chen

            
	 	
              Title:

            	
              Director

            

       

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      	 	
              BANCO SANTANDER S.A., NEW YORK BRANCH,   as
                a New Lender

            
	 	 	 
	 	
              By:

            	
              /s/ Rita Walz-Cuccioli

            
	 	
              Name:

            	
              Rita Walz-Cuccioli

            
	 	
              Title:

            	
              Executive Director

            

      

      

      	 	
              By:

            	
              /s/ Terence Corcoran

            
	 	
              Name:

            	
              Terence Corcoran

            
	 	
              Title:

            	
              Executive Director

            

      

      

      
        [Signature Page to Amendment No. 4]

      

      
        
          

      

      Schedule A

       

        

      	
              New Lender Commitments

            	
              Amount

            
	
              CITIBANK, N.A.

            	
              $66,666,666.66

            
	
              MUFG Union Bank, N.A.

            	
              $66,666,666.66

            
	
              Banco Santander S.A., New York Branch

            	
              $66,666,666.66

            
	
              Total:

            	
              $199,999,999.98Exhibit

Exhibit 10.1

SEPARATION AGREEMENT AND
RELEASE OF ALL CLAIMS

1.          The Parties.  This Separation Agreement and Release of All Claims ("Agreement") is entered into between Laurence J. Hueth ("Mr. Hueth" and/or the "Employee") and First Northwest Bancorp (the “FNWB”) and its wholly owned subsidiary, First Federal Savings & Loan Association of Port Angeles (the “Bank”), including, past and present, and affiliated corporations (collectively FNWB and the Bank are referred to as the "Company" and/or the "Employer").

2.          Purpose.  Mr. Hueth has been employed by FNWB and the Bank as the Chief Executive Officer and President for each entity.   The purpose of this Agreement is to set forth the terms of Mr. Hueth’s separation from service from the Company.  By agreement of the Company and Mr. Hueth, the effective date of his separation will be January 2, 2020 (the "Separation Date").

3.          Considerations.

3.1         Mr. Hueth’s separation from the Bank was made effective August 1, 2019.  Notwithstanding such separation, this Agreement is intended by both parties to incorporate terms and conditions of Mr. Hueth’s separation from both the Bank and FNWB.   

3.2     If the Employee signs and returns this Agreement and does not revoke this Agreement as provided in Section 9 below, then the Company will pay to the Employee within seven (7) days of the Separation Date a lump sum in the amount of $17,139.00, which is equivalent to the cost of continuation coverage under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for Executive and eligible dependents for a period of twelve (12) months at the same level of benefits that Executive had elected as of the Separation Date, provided Executive and/or eligible dependents timely elect continuation coverage under COBRA within the time period prescribed pursuant to COBRA, and otherwise qualify for continued coverage.  This amount will be treated as non-taxable provided that Employee provides Company with written documentation confirming that COBRA continuation coverage was timely elected, and that the amount was actually used for such premiums.  

In the event that Employee becomes eligible for health coverage elsewhere within the twelve (12) month period by virtue of new employment and will not be paying for a full twelve (12) months of COBRA premiums, Employee agrees to refund Company the unused amount in full, without demand.     

1

4811-7459-1142.1 

3.3          The Employee shall receive a lump sum payment for his accrued but unused vacation leave as of his Separation Date, with such lump sum to be paid in the Bank's first payroll of 2020.   
3.4    The Employee shall receive a lump sum payment for one half of his accrued but unused sick leave (up to 240 hours) as of his Separation Date, with such lump sum to be paid in the Bank’s first payroll of 2020.  
3.5          The Employee shall be entitled to receive his vested benefits under the Bank's Equity Incentive Plan, 401(k) Plan and Deferred Compensation Plan in accordance with the terms of such plans.

3.6          The Employee acknowledges and agrees that his Employment Agreement dated February 22, 2019 with the Corporation and the Bank shall be terminated as of the Separation Date and shall have no further force or effect after the Separation Date. The Employee acknowledges that no other sums of money are owed by the Employer and that the sums paid to him under this Agreement are adequate consideration for the release of claims in Section 4 and the restrictive covenants in Section 6 that he is agreeing to upon his execution of this Agreement.

3.7          The Employee agrees to the release of claims as set forth hereinafter.

4.          General Release.

4.1          In consideration for the above, and all of the terms of this Agreement, the Employee, with the intention of binding himself and his heirs, executors, administrators, agents, representatives and assigns (hereinafter the "Releasors"), does hereby release, remise and forever discharge FNWB and the Bank, and each of their parents, subsidiaries, affiliates, related entities, predecessors, successors, assigns, and each of the current and former employees, officers, directors, executives, members, trustees, representatives, agents, shareholders, attorneys, investors and insurers of any of the foregoing entities and each of their heirs, successors, executors and administrators and all persons acting by, through, under and/or in concert with any of them (hereinafter the "Releasees") of and from any and all claims, demands, causes of action, actions, rights, damages, judgments, costs, compensation, suits, debts, dues, accounts, bonds, covenants, agreements, expenses, attorneys' fees, damages, penalties, punitive damages and liability of any nature whatsoever, in law or in equity or otherwise, which any of the Releasors have had, now have, shall or may have, whether known or unknown, foreseen or unforeseen, suspected or unsuspected, by reason of any cause, matter or thing whatsoever, from the beginning of the Employee's employment with the Company to the date the Employee signs this Agreement, including those relating to or arising out of the Employee's employment or affiliation with the Company, the terms and conditions of such employment or affiliation, and the termination of that employment or affiliation.

2

4811-7459-1142.1 

4.2          By the general release set forth in this Section 4, the Employee acknowledges that he is giving up all claims relating to or arising out of his employment or affiliation with the Company, the terms and conditions of such employment or affiliation, and the termination of that employment or affiliation, including but not limited to claims for breach of contract or implied contract, wrongful, retaliatory or constructive discharge, negligence, misrepresentation, fraud, detrimental reliance, promissory estoppel, defamation, invasion of privacy, impairment of economic opportunity, tortious interference with contract or business relationships, intentional or negligent inflection of emotional distress, any and all other torts, and claims for attorneys' fees, as well as the following statutory claims described below.
4.3          The Employee further acknowledges that various local, state and federal laws prohibit discrimination based on age, gender, sexual orientation, race, color, national origin, religion, disability, and handicap or veterans status and are included within the scope of this release.  These include, but are not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Acts of 1866 and 1871, and the Civil Rights Act of 1991 (relating to gender, national origin, religion, race and certain other kinds of job discrimination); the Pregnancy Discrimination Act; the Age Discrimination in Employment Act and the Older Workers Benefit Protection Act (relating to age discrimination in employment); the Rehabilitation Act of 1973 and the Americans with Disabilities Act (relating to disability discrimination in employment); and the Washington State Law Against Discrimination (RCW 49.60).  The Employee also understands and acknowledges that there are various federal and state laws governing benefit issues, wage and hour issues, and other employment issues, including, but not limited to, the Employee Retirement Income Security Act (excluding claims for vested benefits), the Sarbanes-Oxley Act of 2002, the National Labor Relations Act, the Fair Labor Standards Act, the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, wage and hour laws, whistleblower laws and other laws.
4.4            The Employee acknowledges that he is giving up any claims he may have under any of the statutes or laws referenced in this Section 4 and under any other federal, state or municipal statute, ordinance, executive order or regulation relating to discrimination in employment, wage and hour issues, or in any way pertaining to employment relationships.  The Employee also understands and acknowledges that he is giving up any and all claims for benefits  not covered by Section 3 of this Agreement including, but not limited to, life insurance, accidental death and disability insurance, sick leave or other employer provided plans or programs; claims for bonuses or other distributions of income or profit; claims for reimbursement; claims for wages; claims for vacation or other leave time; claims relating to retirement, pension and/or profit-sharing plans (excluding claims for vested benefits under the Bank's Equity Incentive Plan, 401(k) Plan, Deferred Compensation Plan, as well as vested rights (if any) to stock options); claims for group health insurance coverage (excluding claims for continued medical insurance coverage and COBRA continuation coverage as detailed in Section 3.2 above); or any other claims. The Employee understands and acknowledges that this general release applies to all such employment-related claims that he now has or may have had to the date he signs this Agreement (except as specifically provided otherwise herein) under any and all applicable federal, state, municipal, county or local laws, ordinances and regulations and any common law claims now or hereinafter recognized.

3

4811-7459-1142.1 

4.5          The Employee further agrees that neither the Employee nor anyone on his behalf shall or may seek or be entitled to recover reasonable attorneys' fees and costs pursuant to any of the aforementioned federal, state, county, municipal or local statutes, or any other such laws or regulations.  The Employee understands and acknowledges that the general release set forth in this Section 4 applies to all claims and causes of action, including but not limited to employment-related claims which the Employee now has or may have had to the date he signs this Agreement except as specifically provided otherwise herein.
4.6          The Employee further agrees that this release includes any other claims, whether or not related to his employment with the Company, arising from any alleged violation of any federal, state or local statute, regulation, ordinance or common law or tort, including but not limited to claims for tortuous interference with contractual relations/advantage, misrepresentation, emotional distress, libel, slander, breach of express or implied contract  or covenant of good faith and fair dealing (whether written or oral), retaliation, quantum merit, wrongful discharge, promissory estoppel, fraud, negligence, detrimental reliance, assault, battery, mental anguish, personal injury or loss of consortium, past physical injury associated with employment or future manifestations of physical injury incurred during or as a result of employment, and any and all claims that may be asserted on his behalf by others (including without limitation by the Equal Employment Opportunity Commission, the Washington State Human Rights Agency or any similar agency).
4.7          This release does not apply to claims that cannot be released by this Agreement, including claims for worker's compensation, unemployment benefits claims, or vested retirement benefits, nor does it waive or release any rights or claims that the Employee may have under the Age Discrimination in Employment Act which arise after the date he signs this Agreement.  This release does not prevent the Employee from filing a charge with or participating in any investigation or proceeding conducted by the Equal Employment Opportunity Commission, the Washington State Human Rights Agency, the Securities and Exchange Commission, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or any other federal, state or local  government agency or commission ("Government Agency"), although this release does waive the Employee's right to any monetary or other relief of any nature whatsoever in connection with any such charge, investigation or proceeding to the extent permitted by law.  Notwithstanding any other provision in this Section 4, the Employee waives any right he may have to bring, or participate in, any collective action or class action against the Company or the other Releasees in his capacity as an employee or former employee of the Company.  The Employee further understands that this Agreement does not limit his ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company.  This Agreement does not limit the Employee's right to receive an award for information provided to any Government Agencies.
4.8          The Employee represents that he:  (i) has not filed any civil actions, lawsuits, complaints, charges or claims for relief or benefits against or involving the Company or any of the other Releasees with any local, state or federal court, regulatory body or administrative agency that are currently outstanding, other than a claim for unemployment compensation benefits; 

4

4811-7459-1142.1 

(ii) has not transferred or assigned any claim described by the general release in this Section 4; (iii) has received all leave (paid or unpaid), compensation, wages, overtime if applicable, vacation pay, expense reimbursements, and/or benefits to which he may be entitled and that no other amounts and/or benefits are due (other than as set forth in Section 3 above); and (iv) has not complained of and is not aware of any fraudulent activity or any act(s) which would form the basis of a claim of fraudulent or illegal activity by or against the Company.
5.          Confidentiality.
5.1    Nondisclosure.  The Employee may not use or disclose any confidential information (as defined in paragraph 5.3 below) either during or following the term of this Agreement, except as required by the Employee's duties under this Agreement or as otherwise allowed under subsection 5.2 below.  Notwithstanding anything to the contrary in this Agreement or otherwise, nothing limits the Employee's rights under applicable law to provide truthful information to any governmental entity or to file a charge with or participate in an investigation conducted by any governmental entity.  The Employee is hereby notified that the immunity provisions in 18 USC § 1833 provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade-secret that is made (i) in confidence to federal, state, or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (ii) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (iii) to the individual's attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for the lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except in response to court order.
5.2    Exceptions.  The Employee's nondisclosure obligation under paragraph 5.1 above does not apply to any use or disclosure that is:
(a)Made with the prior written consent of the Board of Directors;

(b)Required by a court order or a subpoena from a government agency (as long as the Employee first provides the Company and First Federal with reasonable notice of the court order or subpoena in order to allow the Company and First Federal the opportunity to contest the requested disclosure); or

(c)Of confidential information that has been previously disclosed to the public by the Company or First Federal or is in the public domain (other than because of the Employee's breach of this Agreement).
5.3    Confidential Information.  "Confidential Information" includes any of the Company's (or subsidiaries' or affiliates') trade secrets, customer or prospect lists, information regarding product development, marketing plans, sales plans, strategic plans, projected acquisitions or dispositions, management agreements, management organization information, operating policies or manuals, business plans, purchasing agreements, financial records, or other similar financial, commercial, business, or technical information of any kind that the Company or any subsidiaries 

5

4811-7459-1142.1 

or affiliates has received from service providers, other vendors, or customers that these third parties have designated as confidential or proprietary.
6.          Restrictive Covenants.   
6.1    Non-Competition.  The Employee agrees that for a period of one year after the Separation Date (the "Noncompetition Period"), the Employee will not directly or indirectly become interested in, as a "founder," organizer, principal shareholder, director, officer, or employee of or consultant to any bank, savings bank, savings and loan association, credit union, or similar financial institution or holding company of such an entity, now existing or organized hereafter, that competes or may compete with the Company, an affiliates or subsidiaries, including any successor, within any county in which the Company operates a full-service branch office or lending center.  But the Employee will not be deemed a "principal shareholder" unless (i) the Employee's investment in such an institution exceeds one percent of the institution's outstanding voting securities or (ii) the Employee is active in the organization, management, or affairs of the institution.  The provisions restricting competition by the Employee may be waived by action of the Board of Directors.  
Notwithstanding the foregoing the Company has agreed it will waive and not seek enforcement of the non-compete obligations reflected in this Section 6.1 for any portion of the Noncompetition Period that the Company is in default of any payment obligations to Employee under the terms of the Deferred Compensation Plan.  
6.2    Noninterference.  During the Noncompetition Period, the Employee shall not directly or indirectly (i) solicit or attempt to solicit any other employee of the Company to leave the employ of the Company, or in any way interfere with the relationship between the Company and any other employee of the Company, (ii) solicit or attempt to solicit any customers or potential customer whom the Company actively solicited at any time during the 12-month period before the Separation Date (the "Customers"), including but not limited to all successors, owners, directors, partners, and management personnel of the Customers, to cease doing business with the Company or to otherwise divert the Customers' business from the Company, or (iii) solicit or attempt to solicit any supplier, licensee, or other business associates of the Company to cease doing business with the Company.
6.3    Interpretation.  The parties agree that the terms of subsections 6.1 and 6.2 of this Section 6 (collectively, the "Restrictive Covenants," are reasonable as to both time and scope.  The parties additionally agree (i) that the Restrictive Covenants are necessary for the protection of the Company's business and goodwill; (ii) that the Restrictive Covenants are not any greater than are reasonably necessary to secure the Company's business and goodwill; and (iii) that the degree of injury to the public from the loss of the service and skill of the Employee or the restrictions placed on the Employee's opportunity to make a living with the Employee's skills upon enforcement of the Restrictive Covenants, does not and will not warrant nonenforcement of them.  If a court or any other administrative body with jurisdiction over a dispute related to this Agreement determines that the restrictive covenants set forth in this Section 6 are unreasonably broad, the parties hereby authorize and direct the court or administrative body to narrow them so as to make them reasonable, given all relevant circumstances, and to enforce them.  

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7.          Return of Company Property:  The Employee represents and warrants that he has, or will have by the Separation Date, returned to the Company all property in his possession, custody or control owned by the Company, including, but not limited to, keys, access cards, credit cards, documents and electronically stored information in his possession (regardless of whether or not such information is Confidential Information).
8.          Acknowledgements.
8.1          The Employee acknowledges that:
(a)   He is releasing all of his claims, including those under the Age Discrimination in Employment Act, knowingly and voluntarily and without duress, coercion or undue influence of any kind, in exchange for consideration of value to which the Employee is not otherwise entitled;
(b)  He has been advised by this Agreement to consult with an attorney prior to signing this Agreement to explain the terms of this Agreement including, without limitation, the terms relating to his release of claims arising under the Age Discrimination in Employment Act;
(c)  He received this Agreement on or before October 4, 2019 and he has at least twenty-one (21) days to consider the terms of this Agreement and to consult with an attorney;
(d)  In the event the Employee executes this Agreement within less than twenty-one (21) days after its delivery to him, then the Employee hereby acknowledges that his decision to execute this Agreement prior to the expiration of such twenty-one (21) day period was done by him knowingly and was entirely voluntary on his part; and
(e)  Other than the items set forth in Section 3, Employee will not receive, and is not entitled to receive, any additional payments, salary, bonuses, overtime, incentive payments, commissions, discretionary payments or other amounts for any period subsequent to his Separation Date.
8.2          If Employee does not return an executed copy of this Agreement to Stephen Oliver, Chairman of the Boards of FNWB and the Bank, so that it received by him by no later than the close of business on October 31, 2019, this Agreement and the obligations set forth herein shall become null and void.
            9.           Revocation of Agreement. The Employee has the right to revoke this Agreement at any time during the seven (7) day period immediately following his acceptance of this Agreement. If the Employee decides to revoke this Agreement, he must do so by mailing a notice of revocation, postmarked within the seven (7) day revocation period, to Christopher J. Riffle, General Counsel, First Federal Savings & Loan Association of Port Angeles, 105 W. Eighth Street, Port Angeles, WA 98362, which notice must be sent by certified mail, return receipt requested. The revocation period starts the day after the Employee signs this Agreement.  The revocation period expires at 5:00 p.m. on the last day of the revocation period, but if the last day is not a business day, the revocation period continues to run until 5:00 p.m. on the next business day.  This Agreement shall not become effective or enforceable until the revocation period has expired. If the Employee 

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revokes this Agreement, then he will not be entitled to any of the items set forth in Section 3 of this Agreement.
            10.          Additional Terms.
10.1          This Agreement is not, and shall not be construed to be, an admission of liability, culpability or any other legal conclusion.
10.2          This Agreement shall be interpreted, enforced and governed under the laws of the State of Washington. In the event of any lawsuit arising from or relating to this Agreement, venue shall be in Clallam County, Washington.
10.3          This Agreement constitutes the entire understanding between the parties regarding the Employee's separation from employment with the Company and supersedes any prior written or oral agreements regarding such employment.  The Employee acknowledges that there are no representations by the Company or any of its agents, attorneys or officers, oral or written, which are not set forth in this Agreement upon which the Employee relied in signing this Agreement.  However, this Agreement shall not alter or revise any fiduciary duties of the Employee arising out of or in connection with his employment as CEO and President of FNWB and the Bank, which fiduciary duties shall survive and continue to be in effect. This Agreement cannot be modified or amended except by written agreement signed by both the Employee and the Company.
10.4          The failure of the Employee or the Company to insist upon strict compliance with any provision of this Agreement will not be deemed a waiver of such provision or of any other provision in this Agreement.  
10.5          This Agreement may be assigned by the Company and shall inure to the benefit of, and may be enforced by, the Company, its successors and assigns.  This Agreement is personal to the Employee and may not be assigned by him.
The Employee's signature below indicates his acceptance of this Agreement and shall cause this Agreement to be binding upon the Employee and his heirs, executors, administrators, agents, representatives and assigns.  The Employee's signature shall also signify that he has read and understands this Agreement, and that he has either reviewed it with an attorney or has voluntarily elected not to do so.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date set forth opposite their respective signatures.

FIRST NORTHWEST BANCORP

	
				
	/s/ Stephen Oliver
	 
	Date:
	October 4, 2019

	Stephen Oliver, Chairman of the Board
	 
	 
	 

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4811-7459-1142.1 

FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PORT ANGELES

	
				
	/s/ Stephen Oliver
	 
	Date:
	October 4, 2019

	Stephen Oliver, Chairman of the Board
	 
	 
	 

EMPLOYEE

	
				
	/s/ Laurence J. Hueth
	 
	Date:
	October 4, 2019

	Laurence J. Hueth
	 
	 
	 

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4811-7459-1142.1

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