Document:

Payment and Performance Guaranty Agreement

  EXHIBIT 10.108
  PAYMENT AND PERFORMANCE GUARANTY AGREEMENT
 
THIS PAYMENT AND PERFORMANCE GUARANTY AGREEMENT (this “Guaranty”) is made as of the 11th day of July, 2002, by ARV ASSISTED LIVING, INC., a Delaware corporation (“Guarantor”),
for the benefit of GMAC COMMERCIAL MORTGAGE CORPORATION, a California corporation (including its successors, transferees and assigns, “Lender”).
  RECITALS:
            E.          ARV HILLCREEK, LLC, a California limited
liability company (“Borrower”), has borrowed the sum of TWENTY-FOUR MILLION AND NO/100 DOLLARS ($24,000,000.00) (the “Loan”) from Lender, evidenced by Borrower’s Promissory Note of even date herewith (the
“Note”) and that certain Loan Agreement by and between Lender and Borrower of even date herewith (the “Loan Agreement”), and secured by, among other things, a Deed of Trust, Fixture Filing and Security Agreement, of
even date herewith (the “Mortgage”) granting a first lien on an assisted living facility known as “Golden Creek Inn”, which is located in the City of Irvine, County of Orange, State of California (the “Golden
Creek”), and  first lien on an assisted living facility known as “Hillcrest Inn”, which is located in the City of Thousand Oaks, County of Ventura, State of California (“Hillcrest”, which, together with
Golden Creek is referred to, individually and collectively, as the “Facility”).
            F.          Borrower has leased the Facility to Guarantor pursuant to two Operating Leases of even date herewith
(collectively, the “Lease”), each by and between Borrower, as lessor, and Guarantor, as tenant; on the date hereof, Guarantor is the sole member of Borrower.
           G.          The Note, the Loan Agreement, the Mortgage and the other documents, certificates, instruments and
agreements executed by Borrower and Lessee in connection with the Loan or to otherwise evidence or secure the Loan, and all renewals, supplements, or amendments thereto or a part thereof, are collectively referred to as the “Loan
Documents”.
            H.          As a condition of making the Loan, Guarantor has agreed
to guaranty, absolutely and unconditionally, payment of the Guaranty Obligations (as defined below), subject to the terms and conditions set forth in this Guaranty.
  AGREEMENT:
  NOW THEREFORE, in consideration of the above and as an inducement to Lender to make the Loan evidenced by the Note and the Loan Agreement, and as security for the
payment of the Loan and all interest from time to time accrued and unpaid thereon, and all expenses, fees, charges and other amounts from time to time due and owing to Lender under the Note and the other Loan Documents, and for the payment and
performance of all covenants, agreements and other obligations from time to time of Borrower, as lessor under the Lease, to Guarantor, as tenant under the Lease, and for the payment and performance when due, whether at maturity or earlier, of all
covenants, agreements and other obligations from time to time owing to, or for the benefit of, Lender pursuant to the Loan Documents, including, without limitation, the payment

   and performance of all of Borrower’s obligations pursuant to Article VIII of the Loan Agreement (collectively referred to herein as the “Guaranty
Obligations”), Guarantor, intending to be legally bound, hereby covenants, agrees, represents and warrants as follows:
            Guaranty.  Guarantor hereby absolutely and unconditionally guarantees to the Lender the full, regular and punctual payment and performance of the Guaranty
Obligations within seven (7) days of the Lender’s demand therefor.  Without limiting the generality of the foregoing, “Guaranty Obligations” is used herein in its most comprehensive sense to include all debts, obligations and
indebtedness described in the Loan Documents, whether now or hereafter made, incur or created, voluntary or involuntary, due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, and regardless of whether there
is any recourse with respect to any portion of such Guaranty Obligations as against Borrower or any partner of Borrower.  In addition, Guarantor guarantees the full payment of, and agrees to reimburse Lender for, all costs of collection
incurred by Lender in enforcing the Guaranty Obligations and pursuing any remedies set forth in the Loan Documents and/or the Guaranty, including, without limitation, court costs and actual attorneys’ fees (including, but not limited to, fees
in any bankruptcy or appellate proceeding).
           Payments.  All payments to be made by Guarantor to Lender hereunder shall be made
in lawful money of the United States of America, in immediately available funds, at 200 Witmer Road, P.O. Box 1015, Horsham, Pennsylvania 19044-8015, or such other location designated by Lender in writing, and shall be accompanied by a notice from
Guarantor stating that such payments are made under this Guaranty.  All payments available to Lender for application in payment or reduction of the Guaranty Obligations may be applied by Lender in such manner and in such amount, and at such
time or times and in such order and priority as Lender may see fit and to the payment or reduction of such portion of the Guaranty Obligations as Lender may elect.
            Subsequent Acts by Lender.  Lender may, in its sole discretion and without notice to Guarantor, take any action which might otherwise be deemed a legal or
equitable release or discharge of Guarantor’s obligations hereunder without either impairing or affecting the liability of Guarantor for payment of the Guaranty Obligations, which actions might include, by way of illustration and not
limitation:
                      at any time or from time to time, the time for Borrower’s
performance of or compliance with any provision of the Loan Documents may be extended or such performance or compliance may be waived by Lender;
                      the acceptance of partial payment of the Guaranty Obligations;
                      any of the acts permitted in the Loan Documents may be performed;
                      the Loan Documents may from time to time be amended and/or renewed by Borrower and Lender for the purpose
of adding any provisions thereto or changing in any manner the rights of Lender or of Borrower thereunder;
                     the maturity date of the Note may be changed or renewed in whole or in part;
 
2

                       the maturity of the Note may be accelerated in
accordance with the terms of the Loan Documents or any future agreement between Borrower and Lender or the holder of such Note;
                      any collateral security for all or any part of the Guaranty Obligations may be exchanged, released,
compromised, consolidated, surrendered or otherwise dealt with, and Lender’s interest therein may be released and may or may not be perfected;
                      the settlement, release, compounding, compromise, cancellation, rearrangement or consolidation of any of
the Guaranty Obligations;
                      the collection of or other liquidation of any
claims Lender may have in respect to the Guaranty Obligations; 
                      the granting
of indulgences, forbearance, compromises, extensions or adjustments in respect to any covenant or agreement under the Loan Documents; and/or
                      the release from liability of any Guarantor and/or any additional parties who may guarantee payment of the
Guaranty Obligations or any portion thereof.
            Certain Rights, Subordination, Etc.
                     Lender may pursue its rights and remedies under this Guaranty and shall be entitled to payment hereunder
notwithstanding any other guaranty of all or any part of the Guaranty Obligations, and notwithstanding any action taken by Lender to enforce any of its rights or remedies under such other guaranty, or any payment received thereunder (but in no event
shall Lender collect more than the aggregate amount of the Guaranty Obligations).  
                      Any obligation or debt of Borrower now or hereafter held by Guarantor is hereby subordinated to the
Guaranty Obligations and Guarantor shall not enforce or collect any such indebtedness from Borrower.  Nevertheless, upon request by Lender, Guarantor shall collect, enforce and receive such indebtedness of Borrower to Guarantor.  Any sums
collected at Lender’s request or collected in contravention of the prohibition set forth herein shall be held by Guarantor as trustee for Lender and shall be paid over to Lender on account of the Guaranty Obligations; provided, however, that
such payments shall not impair, reduce or affect in any manner the liability of Guarantor under the other provisions of this Guaranty.
                      Guarantor agrees that if any event of default exists under the Loan Documents (“Event of
Default”) and is continuing, (i) such Guarantor shall not accept payment from any other guarantor of any Guaranty Obligations by way of contribution or similar rights on account of any payment made hereunder by Guarantor to Lender, all of
which rights are hereby subordinated to Guarantor’s obligations hereunder to Lender, (ii) Guarantor will not take any action to exercise or enforce any rights to such contribution, and (iii) if Guarantor should receive payment, satisfaction or
security for any indebtedness of Borrower to Lender, the same shall be delivered to Lender in the form received, endorsed or signed as may be appropriate for application on account of or as security for the indebtedness of Borrower to Lender and,
until so delivered, shall be held in trust for Lender as security for the indebtedness of Borrower to Lender.
 3

                       In the event of any default by Borrower with respect to
the Guaranty Obligations, Guarantor agrees to pay or perform on demand (either oral or written) the Guaranty Obligations.  Lender shall not be under a duty to protect, secure or insure or be required to liquidate any security or lien provided
by the Mortgage or other such collateral held by Lender prior to making such demand.
                      Notwithstanding any payment or payments made by Guarantor under this Guaranty, Guarantor expressly,
irrevocably and unconditionally waives and releases any and all “claims” (as that term is defined in the Bankruptcy Reform Act of 1978, as amended, 11 U.S.C. Sections 101 et seq., and the regulations adopted and promulgated
pursuant thereto (collectively, the “Bankruptcy Code”)) it may now or hereafter have against Borrower, and shall not be entitled to, and hereby expressly waives, any and all rights of subrogation, reimbursement, indemnity,
exoneration and contribution against Borrower, which Guarantor may now or hereafter have against Borrower without regard to whether any such right or claim arises expressly; provided, that such waiver and release shall not be effective as to any
such claim or entitlement or such subrogation and other rights that accrue after the indefeasible payment, performance or other satisfaction in full of the Guaranty Obligations.
            Representations and Warranties.  Each Guarantor represents and warrants to Lender that:
                      Existence, Power and Qualification.  Guarantor is a duly organized and validly existing
Delaware corporation, has the power to own its properties and to carry on its business as is now being conducted, and is duly qualified to do business and is in good standing in every jurisdiction in which the character of the properties owned by it
or in which the transaction of its business makes its qualification necessary.
                     Power and Authority.  Guarantor has full power and authority to incur the Guaranty Obligations
provided for herein, all of which have been authorized by all proper and necessary action.
                      Financial Position.  The financial statements of the Guarantor heretofore furnished to Lender
are complete and correct and fairly present the financial positionof the Guarantor as of the date thereof.  Since the date of said financial statements there has been no material adverse change in the financial positionor operations, or the
business taken as a whole, of Guarantor from that set forth therein.
                      Litigation.  There are no legal or arbitral proceedings or any proceedings by or before any
governmental or regulatory authority or agency now pending or, to the best of Guarantor’s knowledge, threatened against Guarantor, in which an adverse decision could materially and adversely affect the financial positionof Guarantor.

                     No Breach.  The execution and delivery of this Guaranty, the consummation
of the transactions herein contemplated and compliance with the terms and provisions hereof will not (i) conflict with or result in a breach of, or require any consent (not heretofore obtained at the time this representation is made) under, any
applicable law, administrative proceeding or regulation, or any order, writ, injunction or decree of any court or governmental authority or agency, or any agreement or instrument to which Guarantor is a party or by which Guarantor is
  4

   bound or to which Guarantor is subject, (ii) constitute a default under any such agreement or instrument or under Guarantor’s articles of incorporation, or any other
agreement or instrument binding upon Guarantor, or (iii) result in the creation or imposition of any lien upon any of the revenues or assets of Guarantor pursuant to the terms of any such agreement or instrument.
                     Approvals.  To the best of Guarantor’s knowledge, no authorizations, approvals, or
consents of (other than those heretofore obtained and in full force and effect), and no filings or registrations with (other than those heretofore obtained and in full force and effect), any governmental or regulatory authority or agency are
necessary for the execution, delivery or performance by Guarantor of this Guaranty or for the validity or enforceability thereof.
                      Taxes, etc.  Guarantor has filed all United States federal and state tax returns and all other
tax returns that are required to be filed by Guarantor and has paid all taxes due pursuant to such returns or pursuant to any assessment received by Guarantor, except such taxes, the payment of which is not yet due, or which if due, is not yet
delinquent or is being contested in good faith or which has not been finally determined.
                      Benefit.  The making of the Loan by Lender to Borrower will directly benefit
Guarantor.
            Financial Covenants and Other Information.  Guarantor shall provide Lender the following financial statements and
information on a continuing basis during the term of the Loan:
                      Within one
hundred twenty (120) days after the end of each fiscal year of Guarantor, audited financial statements of Guarantor prepared by a nationally recognized accounting firm or independent certified public accountant acceptable to Lender, which statements
shall be prepared in accordance with GAAP and shall include a balance sheet and a statement of income and expenses for the year then ended.  In lieu of its obligations hereunder, Guarantor may submit to Lender, upon its filing thereof, a copy
of Form 10K as filed with the United States Securities and Exchange Commission.
                     Within forty-five (45) days after the end of each fiscal quarter of Guarantor, audited financial
statements of Guarantor, prepared in accordance with GAAP, which statements shall include a balance sheet and statement of income and expenses for the quarter then ended, certified by the chief financial officer of Guarantor as true and correct in
all material respects.  In lieu of its obligations hereunder, Guarantor may submit to Lender, upon its filing thereof, a copy of Form 10Q as filed with the United States Securities and Exchange Commission.
                      As soon as available, but in no event more than thirty (30) days after the filing deadline, as may be
extended from time to time, copies of all federal, state and local tax returns of Guarantor, together with all supporting documentation and required schedules.
                      Within forty-five (45) days after the end of each fiscal quarter of Guarantor, a certificate of the chief
financial officer of Guarantor confirming compliance with the covenants and requirements set forth above.
  5

   The Lender reserves the right to require such other financial information of Guarantor in such form and at such other times (including monthly or more frequently) as Lender
shall deem necessary, and Guarantor agrees promptly to provide or to cause to be provided, such information to Lender.  All financial statements must be in form and detail as Lender may from time to time  request.
            Guaranty is a Continuing Obligation.  The obligations of the Guarantor under this Guaranty shall be continuing, absolute, irrevocable and
unconditional under all circumstances, and shall remain in full force and effect or be reinstated, until all of the Guaranty Obligations shall have been paid and performed in full, irrespective of the bankruptcy, insolvency, merger, reorganization,
termination, discontinuation or dissolution of the Borrower or any assignment for the benefit of creditors by the Borrower.  The Guarantor acknowledges and agrees that Guarantor’s obligations hereunder shall apply to and continue with
respect to any of the obligations of the Borrower under the Loan Documents which are subsequently recovered from the Lender for the reasons set forth below.  In the event that any payment by or on the behalf of the Borrower to Lender is held to
constitute a preference, fraudulent transfer or other voidable payment under any bankruptcy, insolvency or similar law, or if for any other reason the Lender is required to refund such payment or pay the amount thereof to any other party, including,
without limitation, as a result of the appointment of a receiver, intervenor, or conservator of, or trustee or similar officer for, the Borrower or of any substantial part of its property or otherwise, such payment by the Borrower or any other party
to the Lender shall not constitute a release of the Guarantor from any liability hereunder, and this Guaranty shall continue to be effective or shall be reinstated (notwithstanding any prior release, surrender or discharge by the Lender of this
Guaranty or of the Guarantor), as the case may be, with respect to, and this Guaranty shall apply to, any and all amounts so refunded by the Lender or paid by the Lender to another party (which amounts shall constitute part of the Guaranty
Obligations), and any interest paid by the Lender and any attorneys’ fees, costs and expenses paid or incurred by the Lender in connection with any such event.  It is the intent of the Guarantor and the Lender that the obligations and
liabilities of the Guarantor hereunder are absolute and unconditional under any and all circumstances and that until the Guaranty Obligations are fully and finally paid and performed, and not subject to refund or disgorgement, the obligations and
liabilities of the Guarantor hereunder shall not be discharged or released, in whole or in part, by any act or occurrence that might, but for the provisions of this Guaranty, be deemed a legal or equitable discharge or release of a guarantor. 
The Lender shall be entitled to continue to hold this Guaranty in its possession for a period of one year from the later of (a) the date the Guaranty Obligations are paid and performed in full, or (b) if not paid in accordance with the Guaranty
Obligations, the expiration or termination of the Loan, and for so long thereafter as may be necessary to enforce any obligation of the Guarantor hereunder and/or to exercise any right or remedy of the Lender hereunder.
           [Intentionally Deleted.]
            Waiver and
Release of Subrogation and Participation.  Guarantor shall have no right of subrogation in or under the Guaranty Obligations, and no rights of reimbursement, indemnity or contribution from the Borrower or any other rights by law, equity,
statute or contract that would give rise to a creditor-debtor relationship between Guarantor and the Borrower.  Guarantor shall have no right to participate in any way in any of the collateral which is conveyed under the Loan Documents as
security for the Guaranty Obligations.  Guarantor hereby explicitly waives and
  6

   releases any of the above-described rights of subrogation, reimbursement, indemnity, contribution, participation, and any right to require the marshalling of Borrower’s
assets under any circumstances.
            Continuing Validity.  Guarantor further agrees that the validity of this Guaranty and the
obligations of Guarantor hereunder shall in no way be terminated, affected or impaired (a) by reason of the assertion by Lender of any rights or remedies which it may have under or with respect to either the Note, the Mortgage, or the other Loan
Documents, against any person obligated thereunder or against the owner of the premises covered by the Mortgage, (b) by reason of any failure to file or record any of such instruments or to take or perfect any security intended to be provided
thereby, (c) by reason of the commencement of a case under the Bankruptcy Code by or against any person obligated under the Note, the Mortgage or the other Loan Documents, or the death of any Guarantor, or (d) by reason of any payment made on the
Guaranty Obligations or any other indebtedness arising under the Note, the Mortgage or the other Loan Documents, whether made by Borrower or Guarantor or any other person, which is required to be refunded pursuant to any bankruptcy or insolvency
law; it being understood that no payment so refunded shall be considered as a payment of any portion of the Guaranty Obligations, nor shall it have the effect of reducing the liability of Guarantor hereunder.  It is further understood, that if
Borrower shall have taken advantage of, or be subject to the protection of, any provision in the Bankruptcy Code, the effect of which is to prevent or delay Lender from taking any remedial action against Borrower, including the exercise of any
option Lender has to declare the Guaranty Obligations due and payable on the happening of any default or event by which under the terms of the Note, the Mortgage or the other Loan Documents, the Guaranty Obligations shall become due and payable,
Lender may, as against Guarantor, nevertheless, declare the Guaranty Obligations due and payable and enforce any or all of its rights and remedies against Guarantor provided for herein.
           Notice.  All notices given under this Guaranty shall be in writing and shall be either hand delivered or mailed, by certified U.S. mail, return receipt
requested, first class postage prepaid, to the other party, at its address set forth below or at such other address as such party may designate by notice to the other party:
                      If to Guarantor:
                                ARV Assisted Living, Inc.

                              245 Fischer Avenue, D-1

                              Costa Messa, California  92626-4539

                              Attn:  Abdo H. Khoury
                      If to Lender:
                                GMAC Commercial Mortgage Corporation

                              200 Witmer Road

                              P.O. Box 1015

                              Horsham, Pennsylvania 19044-8015

                              Attention:  Servicing Department
 7

                                 with a copy to:
                                Ballard Spahr Andrews & Ingersoll, LLP

                              601 13th Street, NW, Suite 1000 South

                              Washington, DC  20005-3807

                              Attention:  Katherine L. Bishop, Esq.
            No Waiver by Lender; Remedies.  No failure on the part of Lender or the holder of the Note to exercise, and no delay in exercising, any right
hereunder or thereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right.  Guarantor hereby agrees
that all rights and remedies that Lender is afforded by reason of this Guaranty are separate and cumulative and may be pursued separately, successively, or concurrently, as Lender deems advisable.  In addition, all such rights and remedies are
non-exclusive and shall in no way limit or prejudice Lender’s ability to pursue any other legal or equitable rights or remedies that may be available.  Failure of Lender to insist upon strict performance or observance of any of the terms,
provisions and covenants hereof or to exercise any right herein contained shall not be construed as a waiver or relinquishment of the right to demand strict performance at another time.  Receipt by Lender of any payment or performance on the
Guaranty Obligations shall not be deemed a waiver of the breach of any provision hereof or of any of the Loan Documents.  Without limiting the generality of the foregoing, Guarantor agrees that in any action by Lender by reason of the Guaranty
Obligations, Lender, at its election, may proceed (a) against Guarantor together with Borrower, (b) against Guarantor and Borrower, individually, or (c) against Guarantor only without having commenced any action against, or having obtained any
judgment against, Borrower.
           Certain Waivers by Guarantor.  AS A FURTHER INDUCEMENT TO LENDER TO MAKE THE LOAN AND IN
CONSIDERATION THEREOF, GUARANTOR FURTHER COVENANTS AND AGREES THAT SERVICE OF ANY SUMMONS AND COMPLAINT OR OTHER PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE MADE BY REGISTERED OR CERTIFIED MAIL DIRECTED TO GUARANTOR AT GUARANTOR’S ADDRESS
HEREINABOVE SET FORTH, GUARANTOR HEREBY WAIVING PERSONAL SERVICE THEREOF. GUARANTOR HEREBY WAIVES THE PLEADING OF ANY STATUTE OF LIMITATIONS AS A DEFENSE TO THE OBLIGATIONS HEREUNDER.  GUARANTOR HEREBY WAIVES NOTICE OF THE ACCEPTANCE HEREOF,
PRESENTMENT, DEMAND FOR PAYMENT, PROTEST, NOTICE OF PROTEST, OR ANY AND ALL NOTICE OF NON-PAYMENT, NON-PERFORMANCE OR NON-OBSERVANCE, OR OTHER PROOF, OR NOTICE OR DEMAND.
  THE GUARANTOR
FURTHER WAIVES AND AGREES NOT TO ASSERT: (A) ANY RIGHT TO REQUIRE LENDER TO PROCEED AGAINST BORROWER OR TO PROCEED AGAINST ANY OTHER GUARANTOR, OR TO PROCEED AGAINST OR EXHAUST ANY SECURITY FOR THE GUARANTY OBLIGATIONS, OR TO PURSUE ANY OTHER REMEDY
AVAILABLE TO LENDER, OR TO PURSUE ANY REMEDY IN ANY PARTICULAR ORDER OR MANNER, (B) THE BENEFIT OF ANY STATUTE OF LIMITATIONS AFFECTING GUARANTOR’S LIABILITY HEREUNDER OR THE
  8

   ENFORCEMENT HEREOF, (C) NOTICE OF THE EXISTENCE, CREATION OR INCURRING OF NEW OR ADDITIONAL INDEBTEDNESS OF BORROWER TO LENDER, (D) THE BENEFITS OF ANY STATUTORY PROVISION
LIMITING THE LIABILITY OF A SURETY, (E) ANY DEFENSE ARISING BY REASON OF ANY DISABILITY OR OTHER DEFENSE OF BORROWER OR BY REASON OF THE CESSATION FROM ANY CAUSE WHATSOEVER (OTHER THAN PAYMENT IN FULL) OF THE LIABILITY OF BORROWER FOR THE GUARANTY
OBLIGATIONS, (F) THE BENEFITS OF ANY STATUTORY PROVISION LIMITING THE RIGHT OF LENDER TO RECOVER A DEFICIENCY JUDGMENT, OR TO OTHERWISE PROCEED AGAINST ANY PERSON OR ENTITY OBLIGATED FOR PAYMENT OF THE GUARANTY OBLIGATIONS, AFTER ANY
FORECLOSURE OR TRUSTEE’S SALE OF ANY SECURITY FOR THE GUARANTY OBLIGATIONS, AND (G) ANY OTHER DEFENSE OR CIRCUMSTANCE WHICH MIGHT OTHERWISE CONSTITUTE A LEGAL OR EQUITABLE DISCHARGE OF GUARANTOR’S LIABILITY HEREUNDER, ARISING FROM OR OUT
OF THE LOAN, THE LOAN DOCUMENTS AND/OR THE FACILITY.
           Waiver of Automatic Stay.  GUARANTOR HEREBY AGREES THAT,
IN CONSIDERATION OF LENDER’S AGREEMENT TO MAKE THE LOAN AND IN RECOGNITION THAT THE FOLLOWING COVENANT IS A MATERIAL INDUCEMENT FOR LENDER TO MAKE THE LOAN, IN THE EVENT THAT GUARANTOR SHALL (A) FILE WITH ANY BANKRUPTCY COURT OF COMPETENT
JURISDICTION OR BE THE SUBJECT OF ANY PETITION UNDER ANY SECTION OR CHAPTER OF TITLE 11 OF THE UNITED STATES CODE, AS AMENDED (“BANKRUPTCY CODE”), OR SIMILAR LAW OR STATUTE, (B) BE THE SUBJECT OF ANY ORDER FOR RELIEF ISSUED UNDER THE
BANKRUPTCY CODE OR SIMILAR LAW OR STATUTE, (C) FILE OR BE THE SUBJECT OF ANY PETITION SEEKING ANY REORGANIZATION, ARRANGEMENT, COMPOSITION, READJUSTMENT, LIQUIDATION, DISSOLUTION, OR SIMILAR RELIEF UNDER ANY PRESENT OR FUTURE FEDERAL OR STATE ACT OR
LAW RELATING TO BANKRUPTCY, INSOLVENCY, OR OTHER RELIEF FOR DEBTORS, (D) HAVE SOUGHT OR CONSENTED TO OR ACQUIESCED IN THE APPOINTMENT OF ANY TRUSTEE, RECEIVER, CONSERVATOR, OR LIQUIDATOR, OR (E) BE THE SUBJECT OF AN ORDER, JUDGMENT OR DECREE ENTERED
BY ANY COURT OF COMPETENT JURISDICTION APPROVING A PETITION FILED AGAINST GUARANTOR FOR ANY REORGANIZATION, ARRANGEMENT, COMPOSITION, READJUSTMENT, LIQUIDATION, DISSOLUTION, OR SIMILAR RELIEF UNDER ANY PRESENT OR FUTURE FEDERAL OR STATE ACT OR LAW
RELATING TO BANKRUPTCY, INSOLVENCY OR RELIEF FOR DEBTORS, THEN, SUBJECT TO COURT APPROVAL, LENDER SHALL THEREUPON BE ENTITLED, AND GUARANTOR HEREBY IRREVOCABLY CONSENTS TO, AND WILL NOT CONTEST, AND AGREES TO STIPULATE TO RELIEF FROM, ANY AUTOMATIC
STAY OR OTHER INJUNCTION IMPOSED BY SECTION 362 OF THE BANKRUPTCY CODE, OR SIMILAR LAW OR STATUTE (INCLUDING, WITHOUT LIMITATION, RELIEF FROM ANY EXCLUSIVE PERIOD SET FORTH IN SECTION 1121 OF THE BANKRUPTCY CODE) OR OTHERWISE, ON OR AGAINST THE
EXERCISE OF THE RIGHTS AND REMEDIES OTHERWISE AVAILABLE TO
  9

   LENDER AS PROVIDED IN THIS AGREEMENT AND/OR THE LOAN DOCUMENTS, AND AS OTHERWISE PROVIDED BY LAW, AND GUARANTOR HEREBY IRREVOCABLY WAIVES GUARANTOR’S RIGHTS TO OBJECT
TO SUCH RELIEF.
            Guaranty of Payment.  This is a guaranty of payment and not of collection and upon any default of
Borrower under the Note, the Mortgage, the Loan Agreement or the other Loan Documents, Lender may, at its option, proceed directly and at once, without notice, against Guarantor to collect and recover the full amount of the liability hereunder or
any portion thereof, without proceeding against Borrower or any other person, or foreclosing upon, selling, or otherwise disposing of or collecting or applying against any of the Facility or other collateral for the Loan.
                     Joint and Several Liability.  The term “Guarantor” as used in this Guaranty
shall refer individually and collectively to all signers of this Guaranty.  Each undertaking herein contained shall be the joint and several undertaking of each signer hereof if more than one, and it is specifically agreed that Lender may
enforce the provisions hereof with respect to one or more of such signers without seeking to enforce the same as to all or any such signers.  Guarantor hereby waives any requirement of joinder of all or any other of the parties hereto in any
suit or proceeding to enforce the provisions hereof.
                      Assignment.  Lender may assign this Guaranty or any rights or powers hereunder, in whole or in
part, in connection with the sale of the Note and assignment of the Mortgage.  The duties and obligations of Guarantor may not be delegated or transferred by Guarantor without the prior written consent of Lender which may be withheld in its
absolute discretion.  Each reference herein to Lender shall be deemed to include its successors and assigns, to whose favor the provisions of this Guaranty shall also inure.  Each reference herein to Guarantor shall be deemed to include
the heirs, executors, administrators, legal representatives, successors and assigns of Guarantor, all of whom shall be bound by the provisions of this Guaranty.  If any party hereto shall be a partnership or a limited liability company, the
agreements and obligations on the part of Guarantor herein contained shall remain in force and application notwithstanding any changes in the individuals or entities composing the partnership or the limited liability company, and the term
“Guarantor” shall include any altered or successive partnerships and any altered or successive limited liability companies but the predecessor partnerships and their partners, and the predecessor limited liability companies and their
members, shall not thereby be released from any obligations or liability hereunder.
            Waiver of Trial by Jury; Service of
Process.  GUARANTOR HEREBY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO WHICH THE GUARANTOR AND THE LENDER MAY BE PARTIES ARISING OUT OF, IN CONNECTION WITH, OR IN ANY WAY PERTAINING TO, THIS AGREEMENT AND/OR ANY OF THE OTHER LOAN
DOCUMENTS.  IT IS AGREED AND UNDERSTOOD THAT THIS WAIVER CONSTITUTES A WAIVER OF TRIAL BY JURY OF ALL CLAIMS AGAINST ALL PARTIES TO SUCH ACTIONS OR PROCEEDINGS, INCLUDING CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS AGREEMENT.  THIS
WAIVER IS KNOWINGLY, WILLINGLY AND VOLUNTARILY MADE BY THE GUARANTOR, AND THE GUARANTOR HEREBY REPRESENTS THAT NO REPRESENTATIONS OF FACT OR OPINION
 10

   HAVE BEEN MADE BY ANY INDIVIDUAL TO INDUCE THIS WAIVER OF TRIAL BY JURY OR TO IN ANY WAY MODIFY OR NULLIFY ITS EFFECT.  THE GUARANTOR FURTHER REPRESENTS AND WARRANTS
THAT GUARANTOR HAS BEEN REPRESENTED IN THE SIGNING OF THIS AGREEMENT AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, OR HAS HAD THE OPPORTUNITY TO BE REPRESENTED BY INDEPENDENT LEGAL COUNSEL SELECTED BY GUARANTOR OF GUARANTOR’S
OWN FREE WILL, AND THAT GUARANTOR HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL. GUARANTOR AGREES TO PAY ALL COURT COSTS AND REASONABLE ATTORNEY’S FEES INCURRED BY LENDER IN CONNECTION WITH ENFORCING ANY PROVISION OF THIS
AGREEMENT.  NOTWITHSTANDING THE FOREGOING, LENDER AGREES TO USE REASONABLE EFFORTS TO PROVIDE GUARANTOR WITH NOTICE OF THE FILING OF ANY LAWSUIT BY LENDER AGAINST GUARANTOR.
            Power and Authority.  Guarantor (and its representative, executing below, if any) has full power, authority and legal right to execute this Guaranty and
to perform all its obligations under this Guaranty.
            Complete Agreement; Modification; Waiver.  All understandings,
representations and agreements heretofore had with respect to this Guaranty are merged into this Guaranty which are incorporated herein which alone fully and completely expresses the agreement of Guarantor and Lender.  In no event shall any
modification or waiver of the provisions of this Guaranty be effective unless in writing executed by Lender.  Any waiver granted by Lender shall be applicable only in the specific instance for which it is given.
            Governing Law.  THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE IN WHICH THE FACILITY IS LOCATED AND
APPLICABLE FEDERAL LAW.
            Counterparts; Construction.  This Guaranty may be executed in any number of counterparts, all of
which when taken together shall constitute one and the same instrument.  Words of any gender used in this Guaranty shall be held and construed to include the other gender, and words in the singular shall be held and construed to include the
plural, and words in the plural shall be held and construed to include the singular, unless this Guaranty or the context otherwise requires.
           Review by Guarantor.  GUARANTOR HAS RECEIVED COPIES OF, AND HAS HAD THE OPPORTUNITY TO REVIEW, ALL OF THE LOAN DOCUMENTS REFERRED TO IN THIS
GUARANTY.  GUARANTOR HAS DISCUSSED THIS GUARANTY WITH GUARANTOR’S LEGAL COUNSEL, AND GUARANTOR UNDERSTANDS THE NATURE AND EXTENT AND THE LEGAL AND PRACTICAL CONSEQUENCES OF  GUARANTOR’S LIABILITY UNDER THIS GUARANTY.

           No Oral Agreement.  To the extent allowed by law, Guarantor agrees to be bound by the terms of the following notice:
  11

   NOTICE:     THIS GUARANTY AND THE OTHER LOAN DOCUMENTS CONSTITUTE A WRITTEN AGREEMENT WHICH REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES.
            THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES RELATING TO THE LOAN.
  [SIGNATURES BEGIN ON NEXT PAGE]
  12

   IN WITNESS WHEREOF, this Guaranty has been duly executed by the undersigned as of the day and year first written above.

	  WITNESS:
 	  
 	  GUARANTOR:
 
	  
 	  
 	  
 
	  
 	  
 	  ARV ASSISTED LIVING, INC., a Delaware corporation
 
	  
 	  
 	  
 
	  
 	 By:
 	 /s/ ABDO H KHOURY
 
	 
 	  
 	  
 	 
 	 (SEAL)
 
	  
 	  
 	  
 	 Abdo H. Khoury
 
	 
 	  
 	  
 	 President
 
	 Print Name:
 	  
 	  
 

 13SW GAS Executive Deferral Plan

  Exhibit 10.14
 MASTER PLAN DOCUMENT
 SOUTHWEST GAS CORPORATION EXECUTIVE DEFERRAL
PLAN
  Effective March 1, 1986
  Amended and Restated March 1, 1988
  Amended and Restated March 1, 1989
  Amended and Restated March 1, 1990
  Amended and Restated
October 29, 1992
  Amended and Restated May 10, 1994
  Amended and Restated Effective March 1, 1999
  Amended and Restated November 19, 2002
 
 

   TABLE OF CONTENTS

	  Article
 	  
 	  Subject
 	  
 	  Page
 
	 
 	  
 	 
 	  
 	 
 
	  1
 	  
 	  
Definitions
 	  
 	  1
 
	  
 	  
 	  
 	  
 	  
 
	 2
 	  
 	  
Eligibility
 	  
 	  4
 
	  
 	  
 	  
 	  
 	  
 
	  3
 	  
 	  
Deferral Commitment and Company Contribution
 	  
 	  5
 
	  
 	  
 	  
 	  
 	  
 
	  4
 	  
 	  
Interest, Crediting and Vesting
 	  
 	  6
 
	  
 	  
 	  
 	  
 	  
 
	 5
 	  
 	  
Plan Benefit Payments
 	  
 	  7
 
	  
 	  
 	  
 	  
 	  
 
	  6
 	  
 	  
Retirement and Termination Benefit Payments
 	  
 	  7
 
	  
 	  
 	  
 	  
 	  
 
	  7
 	  
 	  
Pre-Retirement Survivor Benefit Payments
 	  
 	  8
 
	  
 	  
 	  
 	  
 	  
 
	 8
 	  
 	  
Post-Retirement Survivor Benefit Payments
 	  
 	  8
 
	  
 	  
 	  
 	  
 	  
 
	  9
 	  
 	  
Disability Benefit Payments
 	  
 	  9
 
	  
 	  
 	  
 	  
 	  
 
	  10
 	  
 	  
Beneficiaries
 	  
 	  9
 
	  
 	  
 	  
 	  
 	  
 
	  11
 	  
 	  
Leave of Absence
 	  
 	  10
 
	  
 	  
 	  
 	  
 	  
 
	 12
 	  
 	  
General
 	  
 	  11
 
	  
 	  
 	  
 	  
 	  
 
	  13
 	  
 	  
No Guarantee of Continuing Employment
 	  
 	  12
 
	  
 	  
 	  
 	  
 	  
 
	  14
 	  
 	  
Trusts
 	  
 	  12
 
	  
 	  
 	  
 	  
 	  
 
	 15
 	  
 	  
Termination, Amendment or Modification of the Plan
 	  
 	  12
 
	  
 	  
 	  
 	  
 	  
 
	  16
 	  
 	  
Restriction on Alienation of Benefits
 	  
 	  13
 
	  
 	  
 	  
 	  
 	  
 
	  17
 	  
 	  
Administration of the Plan
 	  
 	  13
 
	  
 	  
 	  
 	  
 	  
 
	 18
 	  
 	  
Claims Procedure
 	  
 	  15
 
	  
 	  
 	  
 	  
 	  
 
	  19
 	  
 	  
Miscellaneous
 	  
 	  16
 

   MASTER PLAN DOCUMENT
 SOUTHWEST GAS CORPORATION EXECUTIVE DEFERRAL PLAN
  PURPOSE
  The purpose of this Plan is to provide specified benefits to a select group of key employees who contribute materially to the continued growth, development
and future business success of SOUTHWEST GAS CORPORATION. 
  ARTICLE 1

DEFINITIONS
  For purposes hereof, unless otherwise clearly apparent from the context, the words and phrases listed below shall be defined as follows:

	  1.1
 	  “Account Balance” means a Participant’s individual fund comprised of Deferrals, Company Contributions and interest earnings credited thereon up to the time of
Benefit Distribution.
 
	  
 	  
 
	 1.2
 	  “Base Annual Salary” means the yearly compensation paid to an Executive, excluding bonuses, commissions, overtime, and nonmonetary awards for employment services to
the Company.
 
	  
 	  
 
	  1.3
 	  “Beneficiary” means the person or persons, or the estate of a Participant, named to receive any benefits under the Plan upon the death of a Participant.

	  
 	  
 
	  1.4
 	  “Benefit Account Balance” shall have the meaning set forth in Article 5.3.
 
	  
 	  
 
	  1.5
 	  “Benefit Distribution” means the date benefits under the Plan commence or are paid in full to a Participant, or because of his death, to his Beneficiary, which will
occur within 90 days of notification to the Company of the event that gives rise to such distribution.
 
	  
 	  
 
	  1.6
 	  “Board of Directors” means the Board of Directors of Southwest Gas Corporation and any Successor Corporation.
 
	  
 	  
 
	 1.7
 	  “Bonus” means the portion of actual awards, if any, paid in cash under the terms of Southwest Gas Corporation’s 1993 Management Incentive Plan, as amended
(“Management Incentive Plan”).
 
	  
 	  
 
	  1.8
 	  “Change in Control” means the first to occur of any of the following events:
 

  1

	  
 	  (a)
 	  Any “person” (as the term is used in Section 13 and 14(d)(2) of the Securities Exchange Act of 1934 (“Exchange Act”)) becomes a beneficial owner (as that
term is used in Section 13(d) of the Exchange Act), directly or indirectly, of 50% or more of the Company’s capital stock entitled to vote in the election of directors; or
 
	  
 	  
 	  
 
	  
 	  (b)
 	  During any period of not more than two consecutive years, not including any period prior to the adoption of this Plan, individuals who, at the beginning of such period
constitute the board of directors of the Company, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (a) of this Article 1.8) whose
election by the board of directors or nomination for election by the Company’s shareholders was approved by a vote of at least three-fourths (3/4ths) of the directors then still in office, who either were directors at the beginning of the
period or whose election or nomination for election was previously approved, cease for any reason to constitute at least a majority thereof.
 
	  
 	  
 
	 1.9
 	  “Committee” means the administrative committee appointed by the Board of Directors to manage and administer the Plan in accordance with the provisions of
the Plan.  After a Change in Control, the Committee shall cease to have any powers under the Plan and all powers previously vested in the Committee under the Plan will then be vested in the Third Party Fiduciary.
 
	  
 	  
 
	  1.10
 	  “Company” means Southwest Gas Corporation and such of its Subsidiaries as the Board of Directors may select to become parties to the Plan.  The term
“Company” shall also include any Successor Corporation.
 
	  
 	  
 
	  1.11
 	  “Company Contributions” means the amount added, if any, to a Participant’s Account Balance in accordance with Article 3.2.
 
	  
 	  
 
	  1.12
 	  “Deferral(s)” means the amount of Base Annual Salary, Bonus and special income, as referred to in Article 3.9, transferred to the Plan accounts.

	  
 	  
 
	 1.13
 	  “Employee” means any full-time employee of Southwest Gas Corporation as determined under the personnel policies and practices of Southwest Gas Corporation
prior to a Change in Control.
 
	  
 	  
 
	  1.14
 	  “Executive” means any officer of Southwest Gas Corporation prior to a Change in Control.
 
	  
 	  
 
	  1.15
 	  “Master Plan Document” means this legal instrument containing the provisions of the Plan.
 
	  
 	  
 
	  1.16
 	  “Moody’s Rate” means Moody’s Seasoned Corporate Bond Rate which is an
 

  2

	  
 	  economic indicator consisting of an arithmetic average of yields of representative bonds (industrial and AAA, AA and A rated public utilities) as of January 1 prior to each Plan
Year as published by Moody’s Investors Service, Inc. (or any successor thereto), or, if such index is no longer published, a substantially similar index selected by the Board of Directors.
 
	  
 	  
 
	 1.17
 	  “Moody’s Composite Rate” means the average of the Moody’s Rate on January 1 for the five (5) years prior to Benefit Distribution.
 
	  
 	  
 
	  1.18
 	  “Participant”  means any Executive who executes a Plan Agreement or an Employee who has been selected to participate in the Plan and who executes a Plan
Agreement.
 
	  
 	  
 
	  1.19
 	  “Plan” means the Executive Deferral Plan of the Company evidenced by this Master Plan Document.
 
	  
 	  
 
	  1.20
 	  “Plan Agreement” means the form of written agreement which is entered into from time to time, by and between the Company and a Participant.
 
	  
 	  
 
	  1.21
 	  “Plan Year” means the year beginning on March 1 of each year.
 
	  
 	  
 
	 1.22
 	  “Retire” or “Retirement”  means the severance from employment with the Company on or after attaining age 55, other than by death, disability or
Termination of Employment.
 
	  
 	  
 
	  1.23
 	  “Subsidiary” means any corporation, partnership, or other organization which is at least 50% owned by the Company or a Subsidiary of the Company.
 
	  
 	  
 
	  1.24
 	  “Successor Corporation” means any corporation or other legal entity which is the successor to Southwest Gas Corporation, whether resulting from merger, reorganization
or transfer of substantially all of the assets of Southwest Gas Corporation, regardless of whether such entity shall expressly agree to continue the Plan.
 
	  
 	  
 
	  1.25
 	  “Terminates Employment” or “Termination of Employment” means the ceasing of employment with the Company, either voluntarily or involuntarily, excluding
Retirement, disability or death.
 
	  
 	  
 
	  1.26
 	  “Third Party Fiduciary” means an independent third party (a corporate entity with no other relationship with the Company) selected by the Company to take over the
administration of the Plan upon and after a Change in Control and to determine appeals of claims denied under the Plan before and after a Change in Control pursuant to a Third Party Fiduciary Services Agreement.
 
	  
 	  
 
	 1.27
 	  “Third Party Fiduciary Services Agreement” means the agreement with the Third
 

  3

	  
 	  Party Fiduciary to perform services with respect to the Plan.
 
	  
 	  
 
	  1.28
 	  “Trust Agreement” means an agreement establishing a “grantor trust” of which the Company is the grantor, within the meaning of subpart E, part I, subchapter
J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended (the “Code”).
 
	  
 	  
 
	  1.29
 	  “Trust Fund or Funds” means the assets of every kind and description held under any Trust Agreement forming a part of the Plan.
 
	  
 	  
 
	  1.30
 	  “Trustee” means any person or entity selected by the Company to act as trustee under any Trust Agreement at any time of reference.
 
	  
 	  
 
	 1.31
 	  “Years of Service” means a Participant’s Benefit Service as defined in the  Retirement Plan for Employees of Southwest Gas Corporation, plus service with a
Successor Corporation which is not taken into account for such plan.
 

  ARTICLE 2

ELIGIBILITY

	  2.1
 	  Selection of Participants.  An  Executive shall become eligible to participate in the Plan as of the effective date of his election by the Board of
Directors as an officer of the Company (unless the Board of Directors determines, at that time, that such Executive will not become eligible to participate in the Plan).  The Committee in its sole discretion may select any other Employee to
become eligible to participate in the Plan.
 
	  
 	  
 
	  2.2
 	  Continued Eligibility.  If a Participant ceases to be an Executive and he continues as an Employee, the Committee in its sole discretion will determine
whether such Employee will continue to be eligible to participate in the Plan.  Notwithstanding the foregoing and upon the occurrence of a Change in Control, a Participant will continue to participate in the Plan.
 
	  
 	  
 
	  2.3
 	  Participant Acceptance.  Once eligible to participate in the Plan, an Executive or an Employee has to complete, execute and return to the Committee a
Plan Agreement to become a Participant in the Plan.  Continued participation in the Plan is subject to compliance with any further conditions as may be established by the Committee.  Notwithstanding the foregoing and upon the occurrence of
a Change in Control, no additional conditions regarding continued participation in the Plan may be established by the Committee or any Successor Corporation.
 

 4

   ARTICLE 3

DEFERRAL COMMITMENT AND COMPANY CONTRIBUTION

	  3.1
 	  Deferrals.  A Participant may defer up to 100% of his Base Annual Salary and Bonus received during a Plan Year; provided, that such Deferral exceeds
$2,000 per Plan Year.  Notwithstanding the foregoing, no election shall be effective to reduce the Base Annual Salary and Bonus paid to a Participant for a calendar year to an amount which is less than the amount that the Company is required to
withhold from such Participant’s Base Annual Salary and Bonus for the calendar year for (a) applicable income and employment taxes (including Federal Insurance Contributions Act tax), (b) contributions to any employee benefit plan (other than
this Plan), and (c) payroll transfers, in place, prior to such elections.
 
	  
 	  
 
	  3.2
 	  Company Matching Contributions.  If a Participant makes a Deferral commitment with respect to Base Annual Salary and/or Bonus, the Company will
contribute an amount equal to 50% of such Deferral, up to a maximum of 3% of the Participant’s Base Annual Salary, to the Participant’s Account Balance.
 
	  
 	  
 
	  3.3
 	  Timing of Deferral Election.  Prior to the commencement of each Plan Year, a Participant will (a) advise the Committee, in writing, of his Base Annual
Salary Deferral commitment for the upcoming Plan Year and (b) make his Deferral commitment for any Bonus earned during the calendar year ending in such Plan Year.  If a Participant fails to so advise the Committee, through no fault of the
Company, he will not be permitted to defer any of his Base Annual Salary or Bonus during the upcoming Plan Year.
 
	  
 	  
 
	 3.4
 	  Exercise of Deferral Commitment.  A Participant’s Deferral commitment will be exercised on a per pay period basis for the portion of his Base Annual
Salary that is deferred.  The exercise of a Participant’s Deferral commitment with respect to his Bonus will occur at the time the Bonus is paid.
 
	  
 	  
 
	  3.5
 	  Adjustment to Deferral Commitment.  The Committee reserves the right to adjust any Participant’s Deferral commitment during a Plan Year to ensure
that a Participant’s actual Deferral does not exceed the maximum allowable amount.
 
	  
 	  
 
	  3.6
 	  Deferral Elections by New Participants.  In the event an Executive or an Employee becomes a Participant in the Plan during a Plan Year, such Participant
may defer up to 100% of the remaining portion of his Base Annual Salary for the current Plan Year.  Such Participant must make his Deferral commitment by advising the Committee, in writing, at the time he elects to become a Participant in the
Plan.
 
	  
 	  
 
	  3.7
 	  Deferral Commitment Default.  In the event a Participant defaults on his Base Annual Salary Deferral commitment, the Participant will not be allowed to
make any further Deferrals during the current Plan Year and may not make any Deferrals for the subsequent Plan Year. In the event a Participant defaults on his Bonus Deferral commitment for a particular Plan Year, the Participant will not be able to
defer any
 

 5

	  
 	  of his Bonus for that Plan Year or the subsequent Plan Year.
 
	  
 	  
 
	  3.8
 	  Waiver of Deferral Commitment Default.  The Committee may waive for good cause the default penalty specified in Article 3.7 upon the request of the
Participant.
 
	  
 	  
 
	  3.9
 	  Deferral of Special Income.  A Participant who is entitled to receive cash (a) from the cancellation of stock options granted under the 1996 Stock
Incentive Plan as a result of a Change in Control, (b) from the cancellation of outstanding performance shares issued pursuant to the Management Incentive Plan as a result of a Change in Control, or (c) under an employment, severance or special pay
arrangement payable on account of termination of employment resulting from a Change in Control, may elect to defer receipt of all or a portion of such income; provided that such election is filed with the Committee at least six (6) months prior to
the date such income would otherwise have become payable to the Participant.  If the Participant makes such an election, such income shall not be paid to the Participant but rather shall be treated as a Deferral and added to the
Participant’s Account Balance as of the date such income would otherwise have been paid to the Participant. In addition, for such election to be effective with respect to the deferral of income resulting from the cancellation of an option, the
Participant must agree in writing that such option shall not be exercised at all after the date of the election.  Notwithstanding the foregoing, a Participant’s election to defer income resulting from cancellation of an option shall
terminate and the option may be exercised in accordance with its terms without regard to the election if the option would otherwise expire prior to cancellation (for example, because of the Participant’s termination of employment) or if the
cancellation does not occur.
 

 ARTICLE 4

INTEREST, CREDITING AND VESTING

	  4.1
 	  Interest Rate.  A Participant’s Account Balance at the start of a Plan Year and any Deferrals and Company contributions made during a Plan Year will
earn, except as provided for in Article 4.2, interest annually at 150% of the Moody’s Rate.  Interest will be credited to a Participant’s account for Deferrals and Company contributions made during the Plan Year, as if all Deferrals
and contributions were made on the first day of the Plan Year.
 
	  
 	  
 
	  4.2
 	  Adjustment to Interest Rate.  If a Participant Terminates Employment prior to completing five (5) Years of Service with the Company, interest credited
for all Deferrals and vested Company contributions to a Participant’s Account Balance will be adjusted based on the Moody’s Rate during the period he participated in the Plan.
 
	  
 	  
 
	  4.3
 	  Vesting of Company Contributions.  Company contributions and interest earned
 

  6

	  
 	  on such contributions will vest to a Participant at the rate of 20% per Year of Service and will vest completely once a Participant has five (5) Years of Service with the
Company.
 

 ARTICLE 5

PLAN BENEFIT PAYMENTS

	  5.1
 	  Lump-Sum Payment.  A Participant’s Account Balance will be paid to the Participant in a lump-sum payment at the time of Benefit Distribution, unless
the Participant qualifies to receive benefit payments over a specific benefit payment period.
 
	  
 	  
 
	  5.2
 	  Interest prior to Benefit Distribution.  A Participant’s Account Balance will earn interest under the provisions of Article 4.1 or, if applicable,
Article 4.2 until the time of Benefit Distribution.
 
	  
 	  
 
	  5.3
 	  Benefit Payment Periods.  If a Participant is entitled to receive Plan benefit payments over a specific benefit payment period, his Account Balance at
the commencement of Benefit Distribution will be credited with an amount equal to the interest such balance would have earned assuming distribution in equal monthly installments over the specific benefit payment period, at a specified interest rate,
thereby creating a Benefit Account Balance.  The Benefit Account Balance will then be paid to the Participant in equal monthly installments over the specific benefit payment period.
 
	  
 	  
 
	  5.4
 	  Payment Prior to Benefit Distribution.  If there shall be a final determination by the Internal Revenue Service or a court of competent jurisdiction that
the election by a Participant to defer the payment of any amount in accordance with the terms of this Plan was not effective to defer the taxation of such amount, then the Participant shall be entitled to receive a distribution of the amount
determined to be taxable and the Participant’s Account Balance shall be reduced accordingly.
 

 ARTICLE 6

RETIREMENT AND TERMINATION BENEFIT PAYMENTS

	  6.1
 	  Benefit Payment Periods; Elections.  A Participant who Retires or Terminates Employment with more than five (5) Years of Service qualifies to receive his
Account Balance over a period of 120, 180 or 240 months.  The Participant shall elect the payment period; provided that written notice of such election is filed with the Committee at least one (1) year prior to his Retirement or Termination of
Employment.  If a Participant fails to make such election prior to the time specified, the payment period will be 240 months.
 

  7

	  6.2
 	  Changing Elections.  A Participant who has made an election under this Article may subsequently revoke such election and make another election under this
Article by providing written notice to the Committee; provided, however, that only the last such election or revocation in effect on the date which is one (1) year prior to the date on which the Participant Retires or Terminates Employment shall be
effective.  Notwithstanding the foregoing, if a Participant Terminates Employment or Retires as a result of a Change in Control, the foregoing provisions of this Article 6 shall be applied by substituting “six (6) months” for
“one (1) year.”
 
	  
 	  
 
	  6.3
 	  Interest on Benefit Payments.  The interest rate used to calculate the amount that will be credited to a Participant’s Account Balance, to determine
his Benefit Account Balance under the provisions of Article 5.3, will be 150% of the Moody’s Composite Rate.
 

 ARTICLE 7

PRE-RETIREMENT SURVIVOR BENEFIT PAYMENTS

	  7.1
 	  Benefit Payments.  Notwithstanding any elections made pursuant to Article 6, if a Participant dies while he is an employee of the Company, his Account
Balance will be paid to his Beneficiary in equal monthly installments over the 180 month survivor benefit payment period.
 
	  
 	  
 
	  7.2
 	  Interest on Benefit Payments.  The interest rate used to determine the amount that will be credited to a Participant’s Account Balance, to determine
his Benefit Account Balance under the provisions of Article 5.3 following the Participant’s death, will be 150% of the Moody’s Composite Rate.
 

  ARTICLE 8

POST-RETIREMENT SURVIVOR BENEFIT PAYMENTS

	  8.1
 	  Benefit Payments.  If a Participant dies after the commencement of Retirement, Termination of Employment or disability benefit payments under Articles 6
or 9 but prior to such benefits having been paid in full, the Participant’s benefit payments will continue to be paid to the Participant’s Beneficiary through the end of the originally awarded benefit payment period, except as provided for
in Article 10.7.
 

  ARTICLE 9

DISABILITY BENEFIT PAYMENTS

	 9.1
 	  Disability Determination.  A Participant shall be considered disabled if he qualifies for a disability benefit under the Company’s group long-term
disability plan.  In the event a Participant does not qualify for benefits under the group long-term disability
 

  8

	  
 	  plan, the Committee may determine that a Participant is disabled under the provisions of the Plan.
 
	  
 	  
 
	  9.2
 	  Vesting of Company Contributions.  Notwithstanding the provisions of Article 4.3, Company contributions and interest earned on such contributions will be
fully vested to the Participant at the time he is determined to be disabled under this Article.
 
	  
 	  
 
	  9.3
 	  Benefit Payments During First Five (5) Years of Service.  If a Participant is disabled within the first five (5) Years of Service with the Company, he
will receive his Account Balance in a lump sum payment at Benefit Distribution.
 
	  
 	  
 
	  9.4
 	  Benefit Payments After Five (5) Years of Service.  Notwithstanding any elections made pursuant to Article 6, if a Participant is disabled after five (5)
Years of Service with the Company, his Account Balance will be paid to him in equal monthly installments over the 180 month disability payment period.
 
	  
 	  
 
	 9.5
 	  Interest on Benefit Payments.  If a Participant qualifies to receive his Account Balance over the disability benefit payment period, the interest rate
used to calculate the amount that will be credited to a Participant’s Account Balance, to determine his Benefit Account Balance under the provisions of Article 5.3, will be 150% of the Moody’s Composite Rate.
 

  ARTICLE 10

BENEFICIARIES

	  10.1
 	  Designation of Beneficiaries.  A Participant shall have the right to designate any person as his Beneficiary to whom benefits under this Plan shall be
paid in the event of the Participant’s death prior to the total distribution of his Benefit Account Balance under the Plan.  If greater than 50% of the Benefit Account Balance is designated to a Beneficiary other than the
Participant’s spouse, such Beneficiary designation must be consented to by the Participant’s spouse.  Each Beneficiary designation must be in written form prescribed by the Committee and will be effective only when filed with the
Committee during the Participant’s lifetime.
 
	  
 	  
 
	  10.2
 	  Changing Beneficiary Designation.  A Participant shall have the right to change the Beneficiary designation, subject to spousal consent under the
provisions of Article 10.1, without the consent of any designated Beneficiary by filing a new Beneficiary designation with the Committee.  The filing of a new Beneficiary designation form will cancel all Beneficiary designations previously
filed.
 
	  
 	  
 
	 10.3
 	  Acknowledgment.  The Committee shall acknowledge, in writing, receipt of each Beneficiary designation form.
 
	  
 	  
 
	  10.4
 	  Discharge of Company Obligation.  The Committee shall be entitled to rely on the
 

  9

	  
 	  Beneficiary designation last filed by the Participant prior to his death.  Any payment made in accordance with such designation shall fully discharge the Company from all
further obligations with respect to the amount of such payments.
 
	  
 	  
 
	  10.5
 	  Minor or Incompetent Beneficiaries.  If a Beneficiary entitled to receive benefits under the Plan is a minor or a person declared incompetent, the
Committee may direct payment of such benefits to the guardian or legal representative of such minor or incompetent person.  The Committee may require proof of incompetency, minority or guardianship as it may deem appropriate prior to
distribution of any Plan benefits.  Such distribution shall completely discharge the Committee and the Company from all liability with respect to such payments.
 
	  
 	  
 
	 10.6
 	  Effect of No Beneficiary Designation.  If no Beneficiary designation is in effect at the time of the Participant’s death, or if the named
Beneficiary predeceased the Participant, then the Beneficiary shall be: (a) the surviving spouse; (b) if there is no surviving spouse, then his issue per stirpes; or (c) if no surviving spouse or issue, then his estate.
 
	  
 	  
 
	  10.7
 	  Payment to Contingent Beneficiary.  If a Beneficiary receiving benefit payments under the provisions of the Plan dies prior to the completion of the
benefit payment period, the present value of the remaining benefit payments will be paid, in a lump sum amount, to the contingent Beneficiary designated by the Participant under the provisions of Article 10.1.  If the Participant has failed to
designate a contingent Beneficiary, the present value of the remaining benefit payments will be paid, in a lump sum amount, to the Beneficiary’s estate.  The present value of the remaining benefit payments will be calculated using the same
methodology, including the same interest rate, as was used to calculate the Participant’s annuity payment calculation, under Article 5.3.
 

  ARTICLE 11

LEAVE OF ABSENCE

	  11.1
 	  Continuation of Deferral Commitment.  If a Participant is authorized by the Company for any reason to take a paid leave of absence, the
Participant’s Deferral commitment shall remain in full force and effect.
 
	  
 	  
 
	 11.2
 	  Suspension of Deferral Commitment.  If a Participant is authorized by the Company for any reason to take an unpaid leave of absence, the
Participant’s Deferral commitment shall be suspended until the leave of absence ends and the Participant’s employment resumes.
 
	  
 	  
 

  10

   ARTICLE 12

GENERAL

	  12.1
 	  Payment Obligation.  Amounts payable to a Participant shall be paid from the general assets of the Company or from the assets of a grantor trust within
the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Code, established for use in funding executive compensation arrangements and commonly known as a “rabbi trust.”
 
	  
 	  
 
	  12.2
 	  Limitation on Payment Obligation.  The Company shall have no obligation under the Plan to a Participant or a Participant’s Beneficiary, except as
provided in this Master Plan Document.
 
	  
 	  
 
	  12.3
 	  Furnishing Information.  The Participant must cooperate with the Committee in furnishing all information requested by the Company to facilitate the
payment of his Benefit Account Balance.  Such information may include the results of a physical examination if any is required for participation in the Plan.
 
	  
 	  
 
	 12.4
 	  Unsecured General Creditor.  Participants and their Beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, claims, or
interest in any specific property or assets of the Company.  No assets of the Company shall be held under any trust, or held in any way as collateral security for the fulfilling of the obligations of the Company under the Plan.  Any and
all of the Company’s assets shall be, and remain, the general unpledged, unrestricted assets of the Company.  The Company’s obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay
money in the future, and the rights of the Participants and Beneficiaries shall be no greater than those of unsecured general creditors.  It is the intention of the Company that this Plan (and the Trust Funds described in Article 14.1) be
unfunded for purposes of the Code and for the purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
 
	  
 	  
 
	  12.5
 	  Withholding.  There shall be deducted from each payment made under the Plan or other compensation payable to the Participant (or Beneficiary) all taxes
which are required to be withheld by the Company in respect to such payment or this Plan.  The Company shall have the right to reduce any payment (or other compensation) by the amount of cash sufficient to provide the amount of said
taxes.
 

  ARTICLE 13

NO GUARANTEE OF CONTINUING EMPLOYMENT

	  13.1
 	  Future Employment.  The terms and conditions of this Plan shall not be deemed to constitute a contract of employment between the Company and a
Participant.  Moreover, nothing in the Plan shall be deemed to give a Participant the right to be retained in the service of the Company or to interfere with the right of the Company to discipline or discharge the Participant at any
time.
 

 11

   ARTICLE 14

TRUSTS

	  14.1
 	  Trusts.  The Company may maintain one or more Trust Funds to finance all or a portion of the benefits under the Plan by entering into one or more Trust
Agreements.   Any Trust Agreement is designated as, and shall constitute, a part of the Plan, and all rights which may accrue to any person under the Plan shall be subject to all the terms and provisions of such Trust Agreement.  A
Trustee shall be appointed by the Committee or the Board of Directors and shall have such powers as provided in the Trust Agreement.  The Committee or the Board of Directors may modify any Trust Agreement, in accordance with its terms, to
accomplish the purposes of the Plan and appoint a successor Trustee under the provisions of such Trust Agreement.  By entering into such Trust Agreement, the Committee or the Board of Directors may vest in the Trustee, or in one or more
investment managers (as defined in ERISA) the power to manage and control the Trust Fund.  The Committee’s authority under the provisions of this Article 14.1 will cease with a Change in Control.
 

  ARTICLE 15

TERMINATION, AMENDMENT OR MODIFICATION OF THE PLAN

	  15.1
 	  Plan Amendment and Termination.  The Board of Directors may, at any time, without notice, amend or modify the Plan in whole or in part; provided,
however, that (a) no amendment or modification shall be effective to decrease or restrict (i) the amount of interest to be credited to a Participant’s Account Balance under the provisions of the Plan, (ii) the benefits the Participant qualifies
for or may elect to receive under the provisions of the Plan, or (iii) benefit payments to Participants or Beneficiaries once such payments have commenced, and (b) effective March 1, 1999, no amendment or modification of this Article 15, Article 17,
or Article 18 of the Plan shall be effective.
 
	  
 	  
 
	 15.2
 	  Plan Termination.  The Board of Directors shall not terminate the Plan until all accrued benefits have been paid in full under the provisions of the Plan
to the Participants and Beneficiaries.
 
	  
 	  
 
	  
 	  
 
	  15.3
 	  Partial Plan Termination.  Except for the Participants’ ability to defer special income under the provisions of Article 3.9, the Board of Directors
may partially terminate the Plan by instructing the Committee not to accept any additional Deferral commitments.  In the event of a partial termination, the remaining provisions of the Plan shall continue to operate and be effective for all
Participants in the Plan, as of the date of such partial termination.
 

  12

	  15.4
 	  Change of Control.  In the event of a hostile or non-negotiated Change of Control of the Company, the benefits of this Plan will become 100% vested for
all Participants and the interest credited to a Participant’s Account Balance under any provision of this Plan will be adjusted, retroactively to the date an individual became a Participant and prospectively thereafter, to 200% of the
Moody’s Rate.
 

  ARTICLE 16

RESTRICTIONS ON ALIENATION OF BENEFITS

	 16.1
 	  Alienation of Benefits.  To the maximum extent permitted by law, no interest or benefit under the Plan shall be assignable or subject in any manner to
alienation, sale, transfer, claims of creditors, pledge, attachment or encumbrances of any kind.
 

  ARTICLE 17

ADMINISTRATION OF THE PLAN

	  17.1
 	  Committee Duties.  Except as otherwise provided in this Article 17, and subject to Article 18, the general administration of the Plan, as well as
construction and interpretation thereof, shall be vested in the Committee.  Members of the Committee may be Participants under the Plan.   Specifically, the Committee shall have the discretion and authority to: (a) make, amend,
interpret, and enforce all appropriate rules and regulations for the administration of the Plan; and (b) decide or resolve any and all questions including interpretations of the Plan.  Any individual serving on the Committee who is a
Participant shall not vote or act on any matter relating solely to himself or herself.  The number of members of the Committee shall be established by, and the members shall be appointed from time to time by, and shall serve at the pleasure of,
the Board of Directors.
 
	  
 	  
 
	  17.2
 	  Administration After a Change in Control.  Upon and after a Change in Control, the administration of the Plan shall be vested in a Third Party Fiduciary,
as provided for herein and pursuant to the terms of a Third Party Fiduciary Services Agreement.  Any Third Party Fiduciary Services Agreement is designated as, and shall constitute, a part of the Plan. The Third Party Fiduciary shall also have
the discretion and authority to: (a) make, amend, interpret, and enforce all appropriate rules and regulations for the administration of the Plan; and (b) decide or resolve any and all questions including interpretation of the Plan and the Trust
Agreement.  Except as otherwise provided for in any Trust Agreement, the Third Party Fiduciary shall have no power to direct the investment of Plan or Trust Funds or select any investment manager or custodial firm for the Plan or Trust
Agreement.  The Company shall pay all reasonable administrative expenses and fees of the Third Party Fiduciary when it acts as the administrator of the Plan or pursuant to Article 18.  The Third Party Fiduciary may not be terminated by the
Company without the
 

 13

	  
 	  consent of 50% of the Participants in the Plan.
 
	  
 	  
 
	  17.3
 	  Agents.  In the administration of the Plan, the Committee or the Third Party Fiduciary, as the case may be, may from time to time employ such agents,
consultants, advisors, and managers as it deems necessary or useful in carrying out its duties as it sees fit (including acting through a duly authorized representative) and may from to time to time consult with counsel to the Company.

	  
 	  
 
	  17.4
 	  Binding Effect of Decisions.  The decision or action of the Committee or the Third Party Fiduciary, as the case may be, with respect to any question
arising out of or in connection with the administration, interpretation, and application of the Plan (and the Trust Agreement to the extent provided for in Article 17.2) and the rules and regulations promulgated hereunder shall be final and
conclusive and binding upon all persons having any interest in the Plan.
 
	  
 	  
 
	  17.5
 	  Indemnity by Company.  The Company shall indemnify and save harmless each member of the Committee, the Third Party Fiduciary, and any employee of the
Company to whom the duties of the Committee may be delegated against any and all claims, losses, damages, expenses, and liabilities arising from any action or failure to act with respect to the Plan, except in the case of fraud, gross negligence, or
willful misconduct by the Committee, any of its members, the Third Party Fiduciary, or any such employee.
 
	  
 	  
 
	 17.6
 	  Employer Information.  To enable the Committee and the Third Party Fiduciary to perform their functions, the Company shall supply full and timely
information to the Committee and the Third Party Fiduciary, as the case may be, on all matters relating to the compensation of all Participants, their Retirement, death or other cause for Termination of Employment, and such other pertinent facts as
the Committee or the Third Party Fiduciary may require.
 
	  
 	  
 
	  17.7
 	  Manner and Timing of Benefit Payments.  The Committee or the Third Party Fiduciary, as the case may be, may alter, at or after Benefit Distribution, the
manner and time of payments to be made to a Participant or Beneficiary from that set forth herein, if requested to do so by such Participant or Beneficiary to meet existing financial hardships, which the Committee or the Third Party Fiduciary, as
the case may be, determine are the same as or similar in nature to those identified in Section 1.401(k)-1(d)(2)(iv) of the federal treasury regulations.
 

  ARTICLE 18

CLAIMS PROCEDURE

	  18.1
 	  Presentation of Claims. Any Participant or Beneficiary of a deceased Participant (such Participant or Beneficiary being referred to below as a “Claimant”) may
deliver to the Committee a written claim for determination with respect to benefits available
 

  14

	  
 	 to such Claimant from the Plan.  The claim must state with particularity the determination desired by the Claimant
 
	  
 	  
 
	  18.2
 	  Notification of Decision.  The Committee shall consider a claim and notify the Claimant within 90 calendar days after receipt of a claim in
writing:
 
	  
 	  
 
	  
 	  (a)
 	  That the Claimant’s requested determination has been made, and that the claim has been allowed in full; or
 
	  
 	  
 	  
 
	  
 	  (b)
 	  That the Committee has reached a conclusion contrary, in whole or in part, to the Claimant’s requested determination, and such notice must set forth in a manner calculated
to be understood by the Claimant: (i) the specific reason(s) for the denial of the claim, or any part thereof; (ii) the specific reference(s) to pertinent provisions of the Plan upon which the denial was based; (iii) a description of any additional
material or information necessary for the Claimant to perfect the claim, and an explanation of why such material or information is necessary; and (iv) an explanation of the claim review procedure set forth in Article 18.3.
 
	  
 	  
 
	 18.3
 	  Review of a Denied Claim.  Within 60 days after receiving a notice from the Committee that a claim has been denied, in whole or in part, a
Claimant (or the Claimant’s duly authorized representative) may file with the Third Party Fiduciary a written request for a review of the denial of the claim.  Thereafter, the Claimant (or the Claimant’s duly authorized
representative) may review pertinent documents, submit written comments or other documents, and request a hearing, which the Third Party Fiduciary, in its sole discretion, may grant.
 
	  
 	  
 
	  18.4
 	  Decision on Review.  The Third Party Fiduciary shall render its decision on review promptly, and not later than 60 days after the filing of a
written request for review of a denial, unless a hearing is held or other special circumstances require additional time, in which case the Third Party Fiduciary’s decision must be rendered within 120 calendar days after such date.  Such
decision must be written in a manner calculated to be understood by the Claimant, and it must contain: (i) the specific reason(s) for the decision; (ii) the specific reference(s) to the pertinent Plan provisions upon which the decision was based;
and (iii) such other matters as the Third Party Fiduciary deems relevant.
 
	  
 	  
 
	  18.5
 	  Legal Action.  A Claimant’s compliance with the foregoing provisions of this Article 18 is a mandatory prerequisite to a Claimant’s
right to commence any legal action with respect to any claim for benefits under the Plan.
 

 15

   ARTICLE 19

MISCELLANEOUS

	  19.1
 	  Notice.  Any notice given under the Plan shall be in writing and shall be mailed or delivered to:
 
	  
 	  
 	  
 
	  
 	  
 	  SOUTHWEST GAS CORPORATION
 
	  
 	  
 	  Executive Deferral Plan
 
	  
 	  
 	  Administrative Committee
 
	  
 	  
 	  5241 Spring Mountain Road
 
	  
 	  
 	  Las Vegas, NV  89102
 
	  
 	  
 	  
 
	  
 	  and
 	  
 
	  
 	  
 	  
 
	  
 	  
 	 CRG Fiduciary Services, Inc.
 
	  
 	  
 	  633 West Fifth Street, 53rd floor
 
	  
 	  
 	  Los Angeles, CA 90071-2086
 
	  
 	  
 	  Attn: Managing Director
 
	  
 	  
 	  
 
	  19.2
 	  Assignment.  The Plan shall be binding upon the Company and any of its successors and assigns, and upon a Participant, Participant’s
Beneficiary, assigns, heirs, executors and administrators.
 
	  
 	  
 
	  19.3
 	  Governing Laws.  Except to the extent that federal law applies, the Plan shall be governed by and construed under the laws of the State of
Nevada.
 
	  
 	  
 
	 19.4
 	  Headings.  Headings in this Master Plan Document are inserted for convenience of reference only.  Any conflict between such headings and
the text shall be resolved in favor of the text.
 
	  
 	  
 
	  19.5
 	  Gender and Number.  Masculine pronouns wherever used shall include feminine pronouns and when the context dictates, the singular shall
include the plural.
 
	  
 	  
 
	  19.6
 	  Effect of Illegality or Invalidity.  In case any provision of the Plan shall be held illegal or invalid for any reason, said illegality or
invalidity shall not affect the remaining parts hereof, but the Plan shall be construed and enforced as if such illegal and invalid provisions had never been inserted herein.
 

  IN WITNESS WHEREOF, the Company has executed this Amended and Restated Master Plan Document this 19th day of November 2002.

	  
 	  SOUTHWEST GAS CORPORATION
 
	  
 	  
 
	  
 	  By
 
	  
 	  
 	 Michael O. Maffie
 	  
 
	  
 	  
 	 President & Chief Executive Officer
 	  
 

 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00049-of-00352.parquet"}]]