Document:

rrc-ex102_739.htm

Exhibit 10.2

EXECUTION VERSION

 

FIRST AMENDMENT TO SIXTH AMENDED AND RESTATED

CREDIT AGREEMENT

THIS FIRST AMENDMENT TO SIXTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of October 18, 2019, is by and among RANGE RESOURCES CORPORATION, a Delaware corporation (the “Borrower”), the LENDERS party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”).  Unless the context otherwise requires or unless otherwise expressly defined herein, capitalized terms used but not defined in this Amendment have the meanings assigned to such terms in the Credit Agreement (as defined below).

WITNESSETH:

WHEREAS, the Borrower, the Administrative Agent and the Lenders have entered into that certain Sixth Amended and Restated Credit Agreement, dated as of April 13, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and

WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement as provided herein, and the Administrative Agent and the Majority Lenders have agreed to do so on and subject to the terms and conditions hereinafter set forth.

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, the Borrower, the Administrative Agent and the Majority Lenders hereby agree as follows:

SECTION 1.Amendments to Credit Agreement.  Subject to the satisfaction or waiver in writing of each condition precedent set forth in Section 3 of this Amendment, and in reliance on the representations, warranties, covenants and agreements contained in this Amendment, the Credit Agreement shall be amended in the manner provided in this Section 1.

1.1Additional Definitions.  Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions thereto in alphabetical order:

“Beneficial Ownership Certification” means a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation.

“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.

“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:

Range Resources Corporation - First Amendment

 

 

 

	
 
	
(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).
	
 

“Covered Party” has the meaning assigned to it in Section 13.28.

“First Amendment Effective Date” means October 18, 2019.

“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).

“QFC Credit Support” has the meaning assigned to it in Section 13.28.

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York or any successor thereto.

“Supported QFC” has the meaning assigned to it in Section 13.28.

“U.S. Special Resolution Regime” has the meaning assigned to it in Section 13.28.

1.2Amended Definition.  The definition of “Commitment” in Section 1.1 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

“Commitment” shall mean, (a) with respect to each Lender that is a Lender on the First Amendment Effective Date, the amount set forth opposite such Lender’s name on Schedule 1.1(a) as such Lender’s “Commitment” and (b) in the case of any Lender that becomes a Lender after the First Amendment Effective Date, (i) the amount specified as such Lender’s “Commitment” in the Assignment and Assumption pursuant to which such Lender assumed a portion of the Total Commitment, or (ii) the amount specified in Schedule 1.1(a) as amended by any Incremental Agreement, in each case as the same may be changed from time to time pursuant to terms of this Agreement. The aggregate amount of the Commitments as of the First Amendment Effective Date is $2,400,000,000.

 

1.3LIBOR Replacement.  Section 2.17(c) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

(c)If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (a)(i) have arisen and such circumstances are unlikely to be 

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temporary or (ii) the circumstances set forth in clause (a)(i) have not arisen but either (w) the supervisor for the administrator of the LIBO Screen Rate has made a public statement that the administrator of the LIBO Screen Rate is insolvent (and there is no successor administrator that will continue publication of the LIBO Screen Rate), (x) the administrator of the LIBO Screen Rate has made a public statement identifying a specific date after which the LIBO Screen Rate will permanently or indefinitely cease to be published by it (and there is no successor administrator that will continue publication of the LIBO Screen Rate), (y) the supervisor for the administrator of the LIBO Screen Rate has made a public statement identifying a specific date after which the LIBO Screen Rate will permanently or indefinitely cease to be published or (z)  the supervisor for the administrator of the LIBO Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which the LIBO Screen Rate may no longer be used for determining interest rates for loans, then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the LIBOR Rate that gives due consideration to (I) any selection or recommendation of a replacement rate or the mechanism for determining such a rate by the Relevant Governmental Body or (II) any evolving or then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that, if such alternate rate of interest as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.  Notwithstanding anything to the contrary in Section 13.1, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Majority Lenders stating that such Majority Lenders object to such amendment.  Until an alternate rate of interest shall be determined in accordance with this clause (c) (but, in the case of the circumstances described in clause (ii)(w), clause(ii)(x), or clause(ii)(y) of the first sentence of this Section 2.17(c), only to the extent the LIBO Screen Rate for such Interest Period is not available or published at such time on a current basis), (x) any requests by the Borrower for the conversion of any Borrowing to, or continuation of any Borrowing as, a LIBOR Loan shall be ineffective and (y) if any Notice of Borrowing requests a LIBOR Loan, such Loan shall be made as an ABR Loan.

1.4Beneficial Ownership Notices.  Section 9.1(f) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

(f)Other Information. (i) Promptly upon filing thereof, copies of any filings (including on Form 10-K, 10-Q or 8-K) or registration statements with, and reports to, the SEC or any analogous Governmental Authority in any relevant jurisdiction by the Borrower or any of the Subsidiaries (other than amendments to 

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any registration statement (to the extent such registration statement, in the form it becomes effective, is delivered to the Administrative Agent), exhibits to any registration statement and, if applicable, any registration statements on Form S-8), (ii) promptly upon distribution thereof, copies of all financial statements, proxy statements, notices and reports that the Borrower or any of the Restricted Subsidiaries shall send to the holders of any publicly issued debt of the Borrower and/or any of the Restricted Subsidiaries, in each case in their capacity as such holders, lenders or agents (in each case to the extent not theretofore delivered to the Administrative Agent pursuant to this Agreement), (iii) promptly following knowledge of the occurrence thereof, written notice of any change in the information provided in the Beneficial Ownership Certification delivered to any Lender that would result in a change to the list of beneficial owners identified in such certification, (iv) promptly following any request therefor, information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and the Beneficial Ownership Regulation and (v) with reasonable promptness, but subject to the limitations set forth in the last sentences of Section 9.2(a) and Section 13.6, such other information (financial or otherwise) as the Administrative Agent on its own behalf or on behalf of any Lender (acting through the Administrative Agent) may reasonably request in writing from time to time.

1.5Restricted Payments.  Section 10.6(h) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

(h)so long as, after giving pro forma effect thereto, together with any concurrent Restricted Payments being paid under this Section 10.6(h) and Section 10.6(i), (i) no Event of Default shall have occurred and be continuing, and (ii) the Available Commitment is not less than 15% of the then effective Loan Limit (on a pro forma basis after giving effect to such Restricted Payment), and (iii) the Consolidated Funded Debt to Consolidated EBITDAX Ratio does not exceed 3.25 to 1.00, on a pro forma basis as of the date of such Restricted Payment (with Consolidated EBITDAX determined as of the end of the last Test Period), the Borrower may make, declare and pay additional Restricted Payments in cash without limit to the holders of its Stock and Stock Equivalents; provided that, clause (iii) above shall not apply to Restricted Payments in an aggregate amount of up to $100,000,000 made by Borrower within twelve months following the First Amendment Effective Date using net cash proceeds of Dispositions permitted under Section 10.4 or premium proceeds from Hedge Agreement transactions;

1.6Debt Payment Incurrence.  Section 10.7(a)(C)(2) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

(2) Available Commitment is not less than 15% of the then effective Loan Limit (on a pro forma basis after giving effect to such prepayment, repurchase, redemption, or defeasance); and

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1.7Hedge Agreements.  Sections 10.10(a)(i) and (iv) of the Credit Agreement are each hereby amended and restated in their respective entirety to read as follows:

(i)subject to the proviso below, as of the end of each fiscal quarter, on a net basis, the aggregate daily notional volume determined on a month by month basis for each of natural gas, natural gas liquids and crude oil, calculated separately, covered by all Hedge Agreements with a term greater than sixty (60) months from the date each such Hedge Agreement is entered into shall not exceed 20% of the average consolidated daily production volumes of natural gas, natural gas liquids and crude oil, calculated separately, of the Borrower and its Restricted Subsidiaries for the most recently ended four fiscal quarter period (after giving pro forma effect to any Dispositions permitted under Section 10.4 during such period, and excluding the effect of any force majeure events during such period), and the Borrower shall and shall cause the Restricted Subsidiaries to promptly, but in any event within forty-five (45) days following the end of each fiscal quarter, enter into Hedge Terminations to the extent necessary to be in compliance with the limitations set forth in this clause (i) (but no Default or Event of Default shall be deemed to have arisen during such 45 day period); provided, that, notwithstanding the foregoing and regardless of whether such percentage limitation is exceeded, the Borrower and the Restricted Subsidiaries shall have no obligation to enter into any Hedge Terminations (and no Default or Event of Default shall arise hereunder from exceeding such percentage limitation) unless long-dated Hedge Agreements subject to this clause are within 24 months of their scheduled maturity date (in which case such obligation shall arise only with respect to long-dated Hedge Agreements that are within 24 months of their scheduled maturity date, with Hedge Terminations for long-dated Hedge Agreements with a scheduled maturity date outside of such 24 month period at the option of the Borrower to satisfy such requirement);

(iv)notwithstanding the separate calculation requirements for natural gas, natural gas liquids and crude oil in clauses (i), (ii) and (iii) above, so long as the Borrower and the Restricted Subsidiaries properly identify and consistently report such hedges, the Borrower and the Restricted Subsidiaries may utilize crude oil hedges as a substitute for hedging natural gas liquids.

1.8Divisions.  A new Section 1.11 is hereby added to the Credit Agreement to read in its entirety as follows:

1.11Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) 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 (b) 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 Stock at such time.

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1.9Qualified Financial Contracts.  A new Section 13.28 is hereby added to the Credit Agreement to read in its entirety as follows:

13.28 Acknowledgement Regarding Any Supported QFCs.  To the extent that the Credit Documents provide support, through a guarantee or otherwise, for Hedge Agreements 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.

1.10Schedule 1.1(a).  Schedule 1.1(a) of the Credit Agreement is hereby amended and restated in its entirety to read as set forth on Schedule 1.1(a) attached hereto.

SECTION 2.Reallocation and Increase of Commitments.  The Lenders have agreed among themselves to reallocate their respective Commitments, and to, among other things, permit one or more of the Lenders to increase their respective Commitments under the Credit Agreement (each an “Increasing Lender”).  Each of the Administrative Agent, the Borrower and each other Credit Party hereby consents to (i) the reallocation of the Commitments as set forth on Schedule 1.1(a) to this Amendment, and (ii) the increase in each Increasing Lender’s Commitment.  On the date this 

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Amendment becomes effective and after giving effect to such reallocation, increase and assignment of the Commitments, the Commitment and Commitment Percentage of each Lender shall be as set forth on Schedule 1.1(a) to the Credit Agreement, as amended by this Amendment.  Each Lender hereby consents to the Commitments set forth on Schedule 1.1(a) to the Credit Agreement, as amended by this Amendment.  The reallocation of the Commitments among the Lenders shall be deemed to have been consummated pursuant to the terms of the Assignment and Assumption attached as Exhibit G to the Credit Agreement as if the Lenders had executed an Assignment and Assumption with respect to such reallocation.  The Administrative Agent hereby waives the $3,500 processing and recordation fee set forth in Section 13.6(b)(ii)(C) of the Credit Agreement with respect to the assignments and reallocations contemplated by this Section 2.  To the extent requested by any Lender, and in accordance with Section 2.11 of the Credit Agreement, the Borrower shall pay to such Lender, within the time period prescribed by Section 2.11 of the Credit Agreement, any amounts required to be paid by the Borrower under Section 2.11 of the Credit Agreement in the event the payment of any principal of any Eurodollar Loan or the conversion of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto is required in connection with the reallocation contemplated by this Section 2. On the date hereof, the Administrative Agent shall take the actions specified in Section 13.6, including recording the assignments described herein in the Register, and such assignments shall be effective for purposes of the Credit Agreement.  

SECTION 3.Conditions.  The amendments to the Credit Agreement contained in Section 1 of this Amendment, the reallocation and increase of Commitments contained in Section 2 of this Amendment shall be effective upon the satisfaction of each of the conditions set forth in this Section 3. 

3.1Execution and Delivery.  The Borrower, the Majority Lenders, and the Administrative Agent shall have executed and delivered this Amendment and each other required document, all in form and substance satisfactory to the Administrative Agent.

3.2Consent and Reaffirmation.  The Guarantors shall have executed and delivered the Consent and Reaffirmation attached hereto (the “Consent and Reaffirmation”).

3.3Fees and Expenses.  The Administrative Agent shall have received payment of all costs, fees, expenses (including the fees and expenses of the Administrative Agent’s counsel) of the Administrative Agent and other amounts due and payable in connection with this Amendment (to the extent billed prior to the First Amendment Effective Date).

3.4No Default.  No Default or Event of Default shall have occurred and be continuing or shall result from the effectiveness of this Amendment.

3.5Other Documents.  The Administrative Agent shall have received such other instruments and documents incidental and appropriate to the transactions provided for herein as the Administrative Agent or its special counsel may reasonably request, and all such documents shall be in form and substance satisfactory to the Administrative Agent.

SECTION 4.Representations and Warranties of the Borrower.  To induce the Lenders to enter into this Amendment, the Borrower hereby represents and warrants to the Lenders as follows:

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4.1Reaffirmation of Representations and Warranties/Further Assurances.  Subject to Section 5.1 hereof, after giving effect to the amendments contained herein, each representation and warranty of the Borrower and each Guarantor contained in the Credit Agreement and in each of the other Credit Documents is true and correct in all material respects on the date hereof (except to the extent such representations and warranties relate solely to an earlier date, in which case they shall be true and correct as of such earlier date).

4.2Corporate Power and Authority; Enforceability.  The Borrower has the corporate or other organizational power and authority to execute, deliver and carry out the terms and provisions of this Amendment and has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of this Amendment.  The Borrower has duly executed and delivered this Amendment and this Amendment constitutes the legal, valid and binding obligation of the Borrower enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors' rights generally and general principles of equity (whether considered in a proceeding in equity or law).  Each Guarantor has the corporate or other organizational power and authority to execute, deliver and carry out the terms and provisions of the Consent and Reaffirmation attached hereto and has taken all necessary corporate or other organizational action to authorize the execution, delivery and performance of the Consent and Reaffirmation.  Each Guarantor has duly executed and delivered the Consent and Reaffirmation and the Consent and Reaffirmation constitutes the legal, valid and binding obligation of the Guarantors enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization and other similar laws relating to or affecting creditors' rights generally and general principles of equity (whether considered in a proceeding in equity or law).

4.3Beneficial Ownership.  As of the First Amendment Effective Date, to the best knowledge of the Borrower, the information included in the Beneficial Ownership Certification provided on or prior to the First Amendment Effective Date to any Lender in connection with the Credit Agreement is true and correct in all respects.

4.4No Violation.  None of the execution, delivery or performance by the Borrower of this Amendment, nor by the Guarantors of the Consent and Reaffirmation, or the compliance with the terms and provisions of each thereof will (a) contravene any material applicable provision of any material Requirement of Law, (b) result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the creation or imposition of (or the obligation to create or impose) any Lien upon any of the property or assets of the Borrower (other than Liens created under the Credit Documents) pursuant to the terms of any Contractual Requirement except to the extent such breach, default or Lien would not reasonably be expected to result in a Material Adverse Effect or (c) violate any provision of the certificate of incorporation, by-laws or other organizational documents of the Borrower.

4.5No Default.  As of the date of this Amendment, both before and immediately after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.

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SECTION 5.Miscellaneous.

5.1Mortgages.  On or before the date that is thirty (30) days after the First Amendment Effective Date (or such later date as the Administrative Agent in its sole discretion may agree), to the extent necessary to cause the Collateral Coverage Ratio to meet the Collateral Coverage Minimum, the Administrative Agent shall have received Mortgages, duly executed by the Borrower or other Credit Parties, creating first-priority Liens (subject to Liens permitted by Section 10.2 of the Credit Agreement) on additional Oil and Gas Properties of the Credit Parties.

5.2Reaffirmation of Credit Documents and Liens.  Except as amended and modified hereby, any and all of the terms and provisions of the Credit Agreement and the other Credit Documents shall remain in full force and effect and are hereby in all respects ratified and confirmed by the Borrower.  The Borrower hereby agrees that the amendments and modifications herein contained shall in no manner affect or impair the liabilities, duties and obligations of the Borrower under the Credit Agreement and the other Credit Documents or the Liens securing the payment and performance thereof.

5.3Parties in Interest.  All of the terms and provisions of this Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and assigns.

5.4Counterparts.  This Amendment may be executed in one or more counterparts and by different parties hereto in separate counterparts each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document.  Delivery of an executed counterpart to this Amendment by facsimile or other electronic means shall be effective as delivery of manually executed counterparts of this Amendment.

5.5Legal Expenses.  The Borrower hereby agrees to pay all reasonable fees and expenses of counsel to the Administrative Agent incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Amendment and all related documents.

5.6Complete Agreement.  THIS AMENDMENT, THE CREDIT AGREEMENT, AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

5.7Headings.  The headings, captions and arrangements used in this Amendment are, unless specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Amendment, nor affect the meaning thereof.

5.8Governing Law.  This Amendment shall be construed in accordance with and governed by the law of the State of New York.

5.9Waivers of Jury Trial.  THE BORROWER, THE ADMINISTRATIVE AGENT, EACH LETTER OF CREDIT ISSUER AND EACH LENDER HEREBY IRREVOCABLY AND 

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UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.

5.10Severability.  Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

5.11Reference to and Effect on the Credit Documents.

(a)This Amendment shall be deemed to constitute a Credit Document for all purposes and in all respects.  Each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import, and each reference in the Credit Agreement or in any other Credit Document, or other agreements, documents or other instruments executed and delivered pursuant to the Credit Agreement to the “Credit Agreement”, shall mean and be a reference to the Credit Agreement as amended by this Amendment.  

(b)The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Credit Documents, nor constitute a waiver of any provision of any of the Credit Documents.

[Remainder of Page Intentionally Blank.  Signature Pages Follow.]

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the date first above written. 

RANGE RESOURCES CORPORATION, as the Borrower

	
 
	
By:
	
/s/ MARK S. SCUCCHI
Name:  Mark S. Scucchi

Title:    Chief Financial Officer

 

Range Resources Corporation - First AmendmentSignature Page

 

		
		
	
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent, a Letter of Credit Issuer and a Lender 

	
 

	
By:

	
 
	
/s/ DAVID MORRIS

	
 
	
Name: David Morris

	
 
	
Title:  Authorized Officer

 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
bank of america, n.a.,
as a Letter of Credit Issuer and a Lender

	
 

	
By:

	
 
	
/s/ CHRISTOPHER DIBIASE

	
 
	
Name: Christopher DiBiase

	
 
	
Title:   Director

 

 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
ROYAL BANK OF CANADA,
as a Letter of Credit Issuer and a Lender

	
 

	
By:

	
 
	
/s/ DON J. MCKINNERNEY

	
 
	
Name: Don J. McKinnerney

	
 
	
Title:  Authorized Signatory

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
BANK OF MONTREAL,
as a Lender

	
 

	
By:

	
 
	
/s/ JAMES V. DUCOTE

	
 
	
Name: James V. Ducote

	
 
	
Title:  Managing Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
CAPITAL ONE, NATIONAL ASSOCIATION,
   as a Lender

	
 

	
By:

	
 
	
/s/ SCOTT MACKEY

	
 
	
Name: Scott Mackey

	
 
	
Title:   Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

 

 

		
	
CITIBANK, N.A.,
as a Lender

	
 

	
By:

	
 
	
/s/ PHIL BALLARD

	
 
	
Name: Phil Ballard

	
 
	
Title:   Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
  as a Lender

	
 

	
By:

	
 
	
/s/ MICHAEL WILLIS

	
 
	
Name: Michael Willis

	
 
	
Title:   Managing Director

	
 
	
 

	
By:

	
 
	
/s/ PAGE DILLEHUNT

	
 
	
Name: Page Dillehunt

	
 
	
Title:  Managing Director

	
 
	
 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

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

	
 

	
By:

	
 
	
/s/ TRACI BANKSTON

	
 
	
Name: Traci Bankston

	
 
	
Title:   Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
U.S. BANK NATIONAL ASSOCIATION,
as a Lender

	
 

	
By:

	
 
	
/s/ MARK E. THOMPSON

	
 
	
Name:  Mark E. Thompson

	
 
	
Title:    Senior Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
WELLS FARGO BANK, NATIONAL ASSOCIATION,
   as a Lender

	
 

	
By:

	
 
	
/s/ MICHAEL REAL

	
 
	
Name: Michael Real

	
 
	
Title:  Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
NATIXIS, NEW YORK Branch,
as a Lender

	
 

	
By:

	
 
	
/s/ VIKRAM NATH

	
 
	
Name: Vikram Nath

	
 
	
Title:   Director

	
 
	
 

	
By:

	
 
	
/s/ AJAY PRAKASH

	
 
	
Name: Ajay Prakash

	
 
	
Title:  Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
SocietE GEnErale,
as a Lender

	
 

	
By:

	
 
	
/s/ MAX SONNONSTINE

	
 
	
Name: Max Sonnonstine

	
 
	
Title:   Director

	
 
	
 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
ABN AMRO CAPITAL USA LLC,
as a Lender

	
 

	
By:

	
 
	
/s/ DARRELL HOLLEY

	
 
	
Name: Darrell Holley

	
 
	
Title:  Managing Director

	
 
	
 

	
By:

	
 
	
/s/ DAVID MONTGOMERY

	
 
	
Name: David Montgomery

	
 
	
Title:  Managing Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
BARCLAYS BANK PLC,
as a Lender

	
 

	
By:

	
 
	
/s/ SYDNEY G. DENNIS

	
 
	
Name: Sydney G. Dennis

	
 
	
Title:  Director

	
 
	
 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
BBVA USA,
as a Lender

	
 

	
By:

	
 
	
/s/ JULIA BARNHILL

	
 
	
Name: Julia Barnhill

	
 
	
Title:  Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
   as a Lender

	
 

	
By:

	
 
	
/s/ NUPUR KUMAR

	
 
	
Name: Nupur Kumar

	
 
	
Title:  Authorized Signatory

	
 
	
 

	
By:

	
 
	
/s/ BASTIEN DAYER

	
 
	
Name: Bastien Dayer

	
 
	
Title:  Authorized Signatory

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
MIZUHO BANK, LTD.,
as a Lender

	
 

	
By:

	
 
	
/s/ EDWARD SACKS

	
 
	
Name: Edward Sacks

	
 
	
Title:  Authorized Signatory

	
 
	
 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
KEYBANK NATIONAL ASSOCIATION,
as a Lender

	
 

	
By:

	
 
	
/s/ GEORGE E. MCKEAN

	
 
	
Name: George E. McKean

	
 
	
Title:  Senior Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
PNC BANK, NATIONAL ASSOCIATION,
as a Lender

	
 

	
By:

	
 
	
/s/ KYLE T. HELFRICH

	
 
	
Name: Kyle T. Helfrich

	
 
	
Title:  Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
SUNTRUST BANK,
as a Lender

	
 

	
By:

	
 
	
/s/ JUSTIN LIEN

	
 
	
Name: Justin Lien

	
 
	
Title:  Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
ZIONS BANCORPORATION, N.A. DBA AMEGY BANK,
as a Lender

	
 

	
By:

	
 
	
/s/ MATT LANG

	
 
	
Name:  Matt Lang

	
 
	
Title:   Vice President-Amegy Bank Division

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
BOKF, NA DBA BANK OF TEXAS,
as a Lender

	
 

	
By:

	
 
	
/s/ SCOTT MILLER

	
 
	
Name: Scott Miller

	
 
	
Title:   Senior Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
BRANCH BANKING AND TRUST COMPANY,
   as a Lender

	
 

	
By:

	
 
	
/s/ GREG KRABLIN

	
 
	
Name: Greg Krablin

	
 
	
Title:   Senior Vice President 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
COMERICA BANK,
as a Lender

	
 

	
By:

	
 
	
/s/ MACKENZIE DOLD

	
 
	
Name: Mackenzie Dold

	
 
	
Title:  Vice President

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
COMMONWEALTH BANK OF AUSTRALIA,
   as a Lender

	
 

	
By:

	
 
	
/s/ MICHAEL LEEDS

	
 
	
Name: Michael Leeds

	
 
	
Title:  Associate Director

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

		
		
	
The Bank of Nova Scotia, HOUSTON BRANCH
as a Lender

	
 

	
By:

	
 
	
/s/ RYAN KNAPE

	
 
	
Name: Ryan Knape

	
 
	
Title:  Director

 

 

 

 

Range Resources Corporation  - First AmendmentSignature Page

 

CONSENT AND REAFFIRMATION

 

The undersigned (each a “Guarantor”) hereby (i) acknowledges receipt of a copy of the foregoing First Amendment to Sixth Amended and Restated Credit Agreement (the “First Amendment”); (ii) consents to the Borrower’s execution and delivery thereof; (iii) agrees to be bound thereby; (iv) affirms that nothing contained therein shall modify in any respect whatsoever its guaranty of the obligations of the Borrower to the Secured Parties pursuant to the terms of its Guarantee in favor of the Administrative Agent for the benefit of the Secured Parties or the Liens granted by it securing payment and performance thereunder and (v) reaffirms that the Guarantee and such Liens are and shall continue to remain in full force and effect.  Although each Guarantor has been informed of the matters set forth herein and has acknowledged and agreed to same, each Guarantor understands that the Lenders have no obligation to inform any Guarantor of such matters in the future or to seek any Guarantor’s acknowledgment or agreement to future amendments or waivers for its Guaranty to remain in full force and effect, and nothing herein shall create such duty or obligation.

 

IN WITNESS WHEREOF, the undersigned has executed this Consent and Reaffirmation on and as of the date of this First Amendment.

 

GUARANTORS:

RANGE ENERGY SERVICES COMPANY, LLC

ENERGY ASSETS OPERATING COMPANY, LLC

RANGE RESOURCES–PINE MOUNTAIN, INC.

RANGE RESOURCES – APPALACHIA, LLC

RANGE PRODUCTION COMPANY, LLC

RANGE RESOURCES–MIDCONTINENT, LLC

RANGE RESOURCES – LOUISIANA, INC.

RANGE LOUISIANA OPERATING, LLC

 

By:  /s/ MARK SCUCCHI
Name: Mark Scucchi
Title:   Chief Financial Officer of all of the foregoing        Guarantors

 

 

Range Resources Corporation - First AmendmentConsent and Reaffirmation

 

Schedule 1.1(a)

COMMITMENTS1

				
	
Lender
	
Title
	
Commitment
Percentage
	
Commitment (and Letter of Credit Commitment, if indicated)

	
JPMorgan Chase Bank, N.A.
	
Administrative Agent
	
6.96%
	
Commitment: $167,000,000.00

Letter of Credit Commitment:

$166,666,666.67

	
Bank of America, N.A.
	
Co-Syndication Agent
	
6.96%
	
Commitment: $167,000,000.00

Letter of Credit Commitment:

$166,666,666.67

	
Bank of Montreal
	
Co-Documentation Agent
	
5.00%
	
$120,000,000.00

	
Citibank, N.A. 
	
Co-Documentation Agent
	
5.00%
	
$120,000,000.00

	
Wells Fargo Bank, National Association
	
Co-Documentation Agent
	
5.00%
	
$120,000,000.00

	
Natixis
	
 
	
5.00%
	
$120,000,000.00

	
Mizuho Bank, Ltd.
	
 
	
5.00%
	
$120,000,000.00

	
PNC Bank, National Association 
	
 
	
5.00%
	
$120,000,000.00

	
Royal Bank of Canada
	
Co-Syndication Agent
	
4.83%
	
Commitment: $116,000,000.00

Letter of Credit Commitment:

$166,666,666.67

	
Capital One, National Association
	
Co-Documentation Agent
	
3.75%
	
$90,000,000.00

	
Canadian Imperial Bank of Commerce, New York Branch 
	
Co-Documentation Agent
	
3.75%
	
$90,000,000.00

	
Credit Agricole Corporate and Investment Bank
	
Co-Documentation Agent
	
3.75%
	
$90,000,000.00

	
MUFG Union Bank, N.A.
	
Co-Documentation Agent
	
3.75%
	
$90,000,000.00

	
U.S. Bank National Association 
	
Co-Documentation Agent
	
3.75%
	
$90,000,000.00

	
Société Générale
	
 
	
3.33%
	
$80,000,000.00

	
	 

	
1
	
 As of the First Amendment Effective Date

Range Resources Corporation - First AmendmentSchedule 1.1(a)

 

				
	
Lender
	
Title
	
Commitment
Percentage
	
Commitment (and Letter of Credit Commitment, if indicated)

	
ABN AMRO Capital USA LLC
	
 
	
3.33%
	
$80,000,000.00

	
Barclays Bank PLC
	
 
	
3.33%
	
$80,000,000.00

	
BBVA USA
	
 
	
3.33%
	
$80,000,000.00

	
Credit Suisse AG, Cayman Islands Branch
	
 
	
3.33%
	
$80,000,000.00

	
Key Bank, National Association
	
 
	
2.77%
	
$66,500,000.00

	
Suntrust Bank
	
 
	
2.77%
	
$66,500,000.00

	
BOKF, NA dba Bank of Texas
	
 
	
1.96%
	
$47,000,000.00

	
ZB, N.A. dba Amegy Bank
	
 
	
1.67%
	
$40,000,000.00

	
Branch Banking and Trust Company
	
 
	
1.67%
	
$40,000,000.00

	
Comerica Bank
	
 
	
1.67%
	
$40,000,000.00

	
Commonwealth Bank of Australia
	
 
	
1.67%
	
$40,000,000.00

	
The Bank of Nova Scotia, Houston Branch
	
 
	
1.67%
	
$40,000,000.00

	
TOTAL
	
 
	
100.00%
	
$2,400,000,000.00

 

 

 

 

 

Range Resources Corporation  - First AmendmentSchedule 1.1(a)EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (the “Agreement”), dated as of
            , 20    , between SiTime Company, a Delaware corporation (the “Company”), and
                     (“Indemnitee”). 

W I T N E S S E T H: 
 WHEREAS,
Indemnitee is either a member of the Board of Directors of the Company (the “Board of Directors”) or an officer of the Company, or both, and in such capacity or capacities, or otherwise as an Agent (as hereinafter defined) of the
Company, is performing a valuable service for the Company; and 
 WHEREAS, the Company is aware that competent and experienced persons are
increasingly reluctant to serve as directors or officers of corporations or other business entities unless they are protected by comprehensive indemnification and liability insurance, due to increased exposure to litigation costs and risks resulting
from their service to such corporations, and because the exposure frequently bears no reasonable relationship to the compensation of such directors and officers; and 

WHEREAS, the Board of Directors of the Company has concluded that, to retain and attract talented and experienced individuals to serve or
continue to serve as officers or directors of the Company or as an Agent, and to encourage such individuals to take the business risks necessary for the success of the Company, it is necessary for the Company contractually to indemnify directors,
officers and Agents and to assume for itself to the fullest extent permitted by law expenses and damages in connection with claims against such officers, directors and Agents in connection with their service to the Company; and 

WHEREAS, Section 145 of the General Corporation Law of the State of Delaware (the “DGCL”), under which the Company is
organized, empowers the Company to indemnify by agreement its officers, directors, employees and agents, and persons who serve, at the request of the Company, as directors, officers, employees or agents of other corporations or enterprises, and
expressly provides that the indemnification provided by the DGCL is not exclusive; and 
 WHEREAS, the Company desires and has requested the
Indemnitee to serve or continue to serve as a director, officer or Agent of the Company free from undue concern for claims for damages arising out of or related to such services to the Company; and 

WHEREAS, Indemnitee is willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition
that he or she be indemnified as herein provided; and 
 WHEREAS, it is intended that Indemnitee shall be paid promptly by the Company all
amounts necessary to effectuate in full the indemnity provided herein; and 

 WHEREAS, certain defined terms are set forth in Section 17 below: 

NOW, THEREFORE, in consideration of the premises and the covenants in this Agreement, and of Indemnitee serving or continuing to serve the
Company as an Agent and intending to be legally bound hereby, the parties hereto agree as follows: 
 1.    Services
by Indemnitee. Indemnitee agrees to serve or continue to serve (a) as a director or an officer of the Company, or both, so long as Indemnitee is duly appointed or elected and qualified, and until such time as Indemnitee resigns or fails to
stand for election or is removed from Indemnitee’s position in each case in accordance with the applicable provisions of the Certificate of Incorporation and Bylaws of the Company, or (b) otherwise as an Agent of the Company. Indemnitee
may from time to time also perform other services at the request or for the convenience of, or otherwise benefiting the Company or any subsidiary of the Company. Indemnitee may at any time and for any reason resign or be removed from such position
(subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in any such position. 

2.    Indemnification of Indemnitee. Subject to the limitations set forth herein and particularly in Section 6
hereof, the Company hereby agrees to indemnify Indemnitee as follows: 
 (a)    The Company shall, with respect to any
Proceeding (as hereinafter defined), indemnify Indemnitee to the fullest extent permitted by applicable law or as such law may from time to time be amended (but, in the case of any such amendment, only to the extent such amendment permits the
Company to provide broader indemnification rights than the law permitted the Company to provide before such amendment). The right to indemnification conferred herein shall be presumed to have been relied upon by Indemnitee in serving or continuing
to serve the Company as an Agent and shall be enforceable as a contract right. Without in any way diminishing the scope of the indemnification provided by this Section 2(a), the rights of indemnification of Indemnitee shall include but shall
not be limited to those rights hereinafter set forth. 
 (b)    The Company shall indemnify Indemnitee if Indemnitee is
or was a party or is threatened to be made a party to any Proceeding (other than an action by or in the right of the Company) by reason of the fact that Indemnitee is or was an Agent of the Company, or any subsidiary of the Company, or by reason of
the fact that Indemnitee is or was serving at the request of the Company as an Agent of another corporation, partnership, joint venture, trust or other enterprise, against Expenses (as hereinafter defined) or Liabilities (as hereinafter defined),
actually and reasonably incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any
criminal action or proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful. 
 (c)    The
Company shall indemnify Indemnitee if Indemnitee was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company or any subsidiary of the Company to procure a judgment in its favor by reason of the fact that
Indemnitee is or was an Agent of the Company, or any subsidiary of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as an Agent of another corporation, partnership, joint venture, trust or other
enterprise, against (i) Expenses and 

  
 2 

 
(ii) to the fullest extent permitted by law, Liabilities if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the
Company, except with respect to both clauses (i) and (ii) hereof, no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable to the Company unless and only to the
extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case,
Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery of the State of Delaware or such other court shall deem proper. 

3.    Advancement of Expenses. All reasonable Expenses incurred by or on behalf of Indemnitee (including costs of
enforcement of this Agreement) shall be advanced from time to time by the Company to Indemnitee within thirty (30) days after the receipt by the Company of a written request for an advance of Expenses, whether prior to or after final
disposition of a Proceeding (except to the extent that there has been a Final Adverse Determination (as hereinafter defined) that Indemnitee is not entitled to be indemnified for such Expenses), including without limitation any Proceeding brought by
or in the right of the Company. The written request for an advancement of any and all Expenses under this paragraph shall contain reasonable detail of the Expenses incurred by Indemnitee. In the event that such written request shall be accompanied
by an affidavit of counsel to Indemnitee to the effect that such counsel has reviewed such Expenses and that such Expenses are reasonable in such counsel’s view, then such expenses shall be deemed reasonable in the absence of clear and
convincing evidence to the contrary. By execution of this Agreement, Indemnitee shall be deemed to have made whatever undertaking as may be required by law at the time of any advancement of Expenses with respect to repayment to the Company of such
Expenses. In the event that the Company shall breach its obligation to advance Expenses under this Section 3, the parties hereto agree that Indemnitee’s remedies available at law would not be adequate and that Indemnitee would be entitled
to specific performance. 
 4.    Presumptions and Effect of Certain Proceedings. Upon making a request for
indemnification, Indemnitee shall be presumed to be entitled to indemnification under this Agreement and the Company shall have the burden of proof to overcome that presumption in reaching any contrary determination. The termination of any
Proceeding by judgment, order, settlement, arbitration award or conviction, or upon a plea of nolo contendere or its equivalent shall not affect this presumption or, except as determined by a judgment or other final adjudication adverse to
Indemnitee, establish a presumption regarding any factual matter relevant to determining Indemnitee’s rights to indemnification hereunder. If the person or persons so empowered to make a determination pursuant to Section 5 hereof shall
have failed to make the requested determination within the period provided for in Section 5 hereof, a determination that Indemnitee is entitled to indemnification shall be deemed to have been made. 

5.    Procedure for Determination of Entitlement to Indemnification. 

(a)    Whenever Indemnitee believes that Indemnitee is entitled to indemnification pursuant to this Agreement, Indemnitee
shall submit a written request for indemnification to the Company. Any request for indemnification shall include sufficient documentation or information reasonably available to Indemnitee for the determination of entitlement to

  
 3 

 
indemnification. In any event, Indemnitee shall submit Indemnitee’s claim for indemnification within a reasonable time, not to exceed five (5) years after any judgment, order,
settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere or its equivalent, or final determination, whichever is the later date for which Indemnitee requests indemnification. The Secretary or other appropriate
officer shall, promptly upon receipt of Indemnitee’s request for indemnification, advise the Board of Directors in writing that Indemnitee has made such request. Determination of Indemnitee’s entitlement to indemnification shall be made
not later than sixty (60) days after the Company’s receipt of Indemnitee’s written request for such indemnification, provided that any request for indemnification for Liabilities, other than amounts paid in settlement, shall have been
made after a determination thereof in a Proceeding. If it is so determined that the Indemnitee is entitled to indemnification, and Indemnitee has already paid the Liabilities, reimbursement to the Indemnitee shall be made within ten (10) days
after such determination; otherwise, the Company shall pay the Liabilities on behalf of the Indemnitee if and when the Indemnitee becomes legally obligated to make payment. 

(b)    The Company shall be entitled to select the forum in which Indemnitee’s entitlement to indemnification will be
heard; provided, however, that if there is a Change in Control of the Company, Independent Legal Counsel (as hereinafter defined) shall determine whether Indemnitee is entitled to indemnification. The forum shall be any one of the following: 

(i)    a majority vote of Disinterested Directors (as hereinafter defined), even though less than a quorum;

 (ii)    by a committee of Disinterested Directors designated by majority vote of Disinterested
Directors, even though less than a quorum; 
 (iii)    Independent Legal Counsel, whose determination
shall be made in a written opinion; or 
 (iv)    the stockholders of the Company. 

6.    Specific Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the
Company shall not be obligated under this Agreement to make any payment to Indemnitee with respect to any Proceeding (and Indemnitee hereby waives and relinquishes any right under this Agreement, the Certificate of Incorporation, the Bylaws or
otherwise to be indemnified and held harmless or to receive any advancement of Expenses): 
 (a)    Provided there has
been no Change in Control, for Liabilities in connection with Proceedings settled without the Company’s consent, which consent, however, shall not be unreasonably withheld; 

(b)    For an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company within the
meaning of section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or similar provisions of any state statutory or common law; 

(c)    To the extent it would be otherwise prohibited by law; or 

  
 4 

 (d)    In connection with a Proceeding commenced by Indemnitee (other
than a Proceeding commenced by Indemnitee to enforce Indemnitee’s rights under this Agreement) unless the commencement of such Proceeding was authorized by the Board of Directors. 

7.    Fees and Expenses of Independent Legal Counsel. The Company agrees to pay the reasonable fees and expenses of
Independent Legal Counsel should such Independent Legal Counsel be retained to make a determination of Indemnitee’s entitlement to indemnification pursuant to Section 5(b) of this Agreement, and to fully indemnify such Independent Legal
Counsel against any and all expenses and losses incurred by any of them arising out of or relating to this Agreement or their engagement pursuant hereto. 

8.    Remedies of Indemnitee. 

(a)    In the event that (i) a determination pursuant to Section 5 hereof is made that Indemnitee is not entitled
to indemnification, (ii) advances of Expenses are not made pursuant to this Agreement, (iii) payment has not been timely made following a determination of entitlement to indemnification pursuant to this Agreement, or (iv) Indemnitee
otherwise seeks enforcement of this Agreement, Indemnitee shall be entitled to a final adjudication in the Court of Chancery of the State of Delaware of the remedy sought. Alternatively, unless court approval is required by law for the
indemnification sought by Indemnitee, Indemnitee at Indemnitee’s option may seek an award in arbitration to be conducted by a single arbitrator in accordance with JAMS’ Comprehensive Arbitration Rules and Procedures then in effect, which
award is to be made within ninety (90) days following the filing of the demand for arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or arbitration award. In any such proceeding or arbitration
Indemnitee shall be presumed to be entitled to indemnification and advancement of Expenses under this Agreement and the Company shall have the burden of proof to overcome that presumption. 

(b)    In the event that a determination that Indemnitee is not entitled to indemnification, in whole or in part, has been
made pursuant to Section 5 hereof, the decision in the judicial proceeding or arbitration provided in paragraph (a) of this Section 8 shall be made de novo and Indemnitee shall not be prejudiced by reason of a determination
that Indemnitee is not entitled to indemnification. 
 (c)    If a determination that Indemnitee is entitled to
indemnification has been made pursuant to Section 5 hereof, or is deemed to have been made pursuant to Section 4 hereof or otherwise pursuant to the terms of this Agreement, the Company shall be bound by such determination. 

(d)    The Company shall be precluded from asserting that the procedures and presumptions of this Agreement are not valid,
binding and enforceable. The Company shall stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement and is precluded from making any assertion to the contrary. 

(e)    Expenses reasonably incurred by Indemnitee in connection with Indemnitee’s request for indemnification under,
seeking enforcement of or to recover damages for breach of this Agreement shall be advanced by the Company when and as incurred by Indemnitee irrespective of any Final Adverse Determination that Indemnitee is not entitled to indemnification. 

  
 5 

 9.    Contribution. To the fullest extent permissible under
applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for
judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in
light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the
relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

10.    Maintenance of Insurance. The Company represents that it presently has in place certain directors’ and
officers’ liability insurance policies covering its directors and officers. Subject only to the provisions within this Section 10, the Company agrees that so long as Indemnitee shall have consented to serve or shall continue to serve as a
director or officer of the Company, or both, or as an Agent of the Company, and thereafter so long as Indemnitee shall be subject to any possible Proceeding (such periods being hereinafter sometimes referred to as the “Indemnification
Period”), the Company will use all reasonable efforts to maintain in effect for the benefit of Indemnitee one or more valid, binding and enforceable policies of directors’ and officers’ liability insurance from established and
reputable insurers, providing, in all material respects, coverage both in scope and amount which are substantially similar to that presently provided or, following the Company’s initial public offering, than that provided as of the time of such
initial public offering. 
 Anything in this Agreement to the contrary notwithstanding, to the extent that and for so long as the Company
shall choose to continue to maintain any policies of directors’ and officers’ liability insurance during the Indemnification Period, the Company shall maintain similar and equivalent insurance for the benefit of Indemnitee during the
Indemnification Period (unless such insurance shall be less favorable to Indemnitee than the Company’s existing policies). 

11.    Modification, Waiver, Termination and Cancellation. No supplement, modification, termination, cancellation
or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or
not similar), nor shall such waiver constitute a continuing waiver. 
 12.    Subrogation. In the event of
payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights,
including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. 

13.    Notice by Indemnitee and Defense of Claim. Indemnitee shall promptly notify the Company in writing upon
being served with any summons, citation, subpoena, complaint, 

  
 6 

 
indictment, information or other document relating to any matter, whether civil, criminal, administrative or investigative that may result in the right to indemnification or the advancement of
Expenses, but the omission so to notify the Company will not relieve it from any liability that it may have to Indemnitee if such omission does not prejudice the Company’s rights. If such omission does prejudice the Company’s rights, the
Company will be relieved from liability only to the extent of such prejudice. Notwithstanding the foregoing, such omission will not relieve the Company from any liability that it may have to Indemnitee otherwise than under this Agreement. With
respect to any Proceeding as to which Indemnitee notifies the Company of the commencement thereof: 
 (a)    The Company
will be entitled to participate therein at its own expense; and 
 (b)    The Company jointly with any other
indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel reasonably satisfactory to Indemnitee; provided, however, that the Company shall not be entitled to assume the defense of any Proceeding if there has
been a Change in Control or if Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee with respect to such Proceeding. After notice from the Company to Indemnitee of its election to
assume the defense thereof, the Company will not be liable to Indemnitee under this Agreement for any Expenses subsequently incurred by Indemnitee in connection with the defense thereof, other than reasonable costs of investigation or as otherwise
provided below. Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the
expense of Indemnitee unless: 
 (i)    the employment of counsel by Indemnitee has been authorized by
the Company; 
 (ii)    Indemnitee shall have reasonably concluded that counsel engaged by the Company
may not adequately represent Indemnitee due to, among other things, actual or potential differing interests; or 

(iii)    the Company shall not in fact have employed counsel to assume the defense in such Proceeding or
shall not in fact have assumed such defense and be acting in connection therewith with reasonable diligence; in each of which cases the fees and expenses of such counsel shall be at the expense of the Company. 

(c)    The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee
without Indemnitee’s written consent; provided, however, that Indemnitee will not unreasonably withhold his or her consent to any proposed settlement. 

14.    Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be
deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed: 
 (a)    If to Indemnitee, to the address set forth below
Indemnitee’s signature on the signature page hereof. 

  
 7 

 (b)    If to the Company, to: 

SiTime Corporation 
 5451 Patrick
Henry Drive 
 Santa Clara, CA 95054 
 or to
such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be. 

15.    Nonexclusivity. The rights of Indemnitee hereunder shall not be deemed exclusive of any other rights to
which Indemnitee may be entitled under applicable law, the Company’s Certificate of Incorporation or Bylaws, or any agreements, vote of stockholders, resolution of the Board of Directors or otherwise, and to the extent that during the
Indemnification Period the rights of the then existing directors and officers are more favorable to such directors or officers than the rights currently provided to Indemnitee thereunder or under this Agreement, Indemnitee shall be entitled to the
full benefits of such more favorable rights. 
 16.    Indemnification and Advancement Rights Primary. The
Company hereby acknowledges that Indemnitee has or may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more parties other than the Company or an affiliate of the Company (collectively, the
“Secondary Indemnitors”). The Company hereby acknowledges and the Company and Indemnitee hereby agree that: (i) the Company is the indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation
of the Secondary Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary); (ii) the Company shall be required to advance the full amount of expenses incurred by
Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and the Certificate of Incorporation and/or
Bylaws of the Company (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Secondary Indemnitors; and (iii) the Company irrevocably waives, relinquishes and releases the
Secondary Indemnitors from any and all claims against the Secondary Indemnitors that the Company may have for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment
by the Secondary Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Secondary Indemnitors shall have a right of contribution and/or
subrogation to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Secondary Indemnitors are express third party beneficiaries of the terms of this
provision. 
 17.    Certain Definitions. 

(a)    “Agent” shall mean any person who is or was, or who has consented to serve as, a director, officer,
employee, agent, fiduciary, joint venturer, partner, manager or other official of 

  
 8 

 
the Company or a subsidiary or an affiliate of the Company, or any other entity (including without limitation, an employee benefit plan), in each case either at the request of, for the
convenience of, or otherwise to benefit the Company or a subsidiary of the Company. Any person who is or was serving as a director, officer, employee or agent of a subsidiary of the Company shall be deemed to be serving, or have served, at the
request of the Company. 
 (b)    “Change in Control” shall mean the occurrence, after the
Company’s initial public offering, of any of the following: 
 (i)    Both (A) any
“person” (as defined below) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing at
least twenty percent (20%) of the total voting power represented by the Company’s then outstanding voting securities and (B) the beneficial ownership by such person of securities representing such percentage is not approved by a majority
of the “Continuing Directors” (as defined below); 
 (ii)    Any “person” is or
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing at least fifty percent (50%) of the total voting
power represented by the Company’s then outstanding voting securities; 
 (iii)    A change in the
composition of the Board of Directors occurs, as a result of which fewer than two-thirds of the incumbent directors are directors (the “Continuing Directors”) who either (A) had been
directors of the Company on the “look-back date” (as defined below) (the “Original Directors”) or (B) were elected, or nominated for election, to the Board of Directors with the affirmative votes of at least a
majority in the aggregate of the Original Directors who were still in office at the time of the election or nomination and directors whose election or nomination was previously so approved; 

(iv)    The stockholders of the Company approve a merger or consolidation of the Company with any other
Company, if such merger or consolidation would result in the voting securities of the Company outstanding immediately prior thereto representing (either by remaining outstanding or by being converted into voting securities of the surviving entity)
50% or less of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or 

(v)    The stockholders of the Company approve (A) a plan of complete liquidation of the Company or
(B) an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets. 
 For purposes
of Subsections (i) and (ii) above, the term “person” shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act, but shall exclude (x) a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or of a parent or subsidiary of the Company or (y) a Company owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the common
stock of the Company. 

  
 9 

 For purposes of Subsection (iii) above, the term “look-back date”
shall mean the later of (x) the date first written above in the preamble to this Agreement or (y) the date 24 months prior to the date of the event that may constitute a “Change in Control.” 

Any other provision of this Section 17(b) notwithstanding, the term “Change in Control” shall not include a transaction, if
undertaken at the election of the Company, the result of which is to sell all or substantially all of the assets of the Company to another corporation (the “Surviving Company”); provided that the Surviving Company is owned directly
or indirectly by the stockholders of the Company immediately following such transaction in substantially the same proportions as their ownership of the Company’s common stock immediately preceding such transaction; and provided, further, that
the Surviving Company expressly assumes this Agreement. 
 (c)    “Disinterested Director” shall mean a
director of the Company who is not or was not a party to the Proceeding in respect of which indemnification is being sought by Indemnitee. 

(d)    “Expenses” shall include all direct and indirect costs (including, without limitation,
attorneys’ fees, retainers, court costs, transcripts, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, all other disbursements or out-of-pocket expenses and reasonable compensation for time spent by Indemnitee for which Indemnitee is otherwise not compensated by the Company or any third party) actually
and reasonably incurred in connection with either the investigation, defense, settlement or appeal of a Proceeding or establishing or enforcing a right to indemnification under this Agreement, applicable law or otherwise; provided, however, that
“Expenses” shall not include any Liabilities. 
 (e)    “Final Adverse Determination” shall
mean that a determination that Indemnitee is not entitled to indemnification shall have been made pursuant to Section 5 hereof and either (1) a final adjudication in the courts of the State of Delaware from which there is no further right
of appeal or decision of an arbitrator pursuant to Section 8(a) hereof shall have denied Indemnitee’s right to indemnification hereunder, or (2) Indemnitee shall have failed to file a complaint in a Delaware court or seek an
arbitrator’s award pursuant to Section 8(a) for a period of one hundred twenty (120) days after the determination made pursuant to Section 5 hereof. 

(f)    “Independent Legal Counsel” shall mean a law firm or a member of a firm selected by the Company
and approved by Indemnitee (which approval shall not be unreasonably withheld) or, if there has been a Change in Control, selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld), that neither is
presently nor in the past five (5) years has been retained to represent: (i) the Company or any of its subsidiaries or affiliates, or Indemnitee or any Company of which Indemnitee was or is a director, officer, employee or agent, or any
subsidiary or affiliate of such a corporation, in any material matter, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s right to
indemnification under this Agreement. 

  
 10 

 (g)    “Liabilities” shall mean liabilities of any type
whatsoever including, but not limited to, any judgments, fines, Employee Retirement Income Security Act excise taxes and penalties, penalties and amounts paid in settlement (including all interest assessments and other charges paid or payable in
connection with or in respect of such judgments, fines, penalties or amounts paid in settlement) of any Proceeding. 

(h)    “Proceeding” shall mean any threatened, pending or completed action, claim, suit, arbitration,
alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding whether civil, criminal, administrative or investigative, in which Indemnitee was, is or will be involved as a party, as a witness or otherwise,
that is associated with Indemnitee’s being an Agent of the Company. 
 18.    Binding Effect; Duration and Scope
of Agreement. This Agreement shall be binding upon the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the
business or assets of the Company), spouses, heirs and personal and legal representatives. This Agreement shall be deemed to be effective as of the commencement date of the Indemnitee’s service as an officer or director of the Company and shall
continue in effect during the Indemnification Period, regardless of whether Indemnitee continues to serve as an Agent. 

19.    Severability. If any provision or provisions of this Agreement (or any portion thereof) shall be held to be
invalid, illegal or unenforceable for any reason whatsoever: 
 (a)    the validity, legality and enforceability of the
remaining provisions of this Agreement shall not in any way be affected or impaired thereby; and 
 (b)    to the
fullest extent legally possible, the provisions of this Agreement shall be construed so as to give effect to the intent of any provision held invalid, illegal or unenforceable. 

20.    Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within the State of Delaware, without regard to conflict of laws rules. 

21.    Consent to Jurisdiction. Except with respect to any arbitration commenced by Indemnitee pursuant to
Section 8 of this Agreement, the Company and Indemnitee each irrevocably consent to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any action or proceeding that arises out of or relates to this
Agreement and agree that any action instituted under this Agreement shall be brought only in the state courts of the State of Delaware. 

22.    Entire Agreement. This Agreement represents the entire agreement between the parties hereto, and there are
no other agreements, contracts or understandings between the parties hereto with respect to the subject matter of this Agreement, except as specifically referred to herein or as provided in Section 15 hereof. 

  
 11 

 23.    Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 

[Signature Page Follows] 

  
 12 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by a duly
authorized officer and Indemnitee has executed this Agreement as of the date first above written. 
  

			
	 SITIME CORPORATION,
 a
Delaware corporation

		
	By:	 	
                     
                                        

	Name:	 	
                     
                                         
   

	Title:	 	  

	
	INDEMNITEE                                  
                  
		
	By:	 	  

	Printed name:	 	
                     
                                         
   

		
	Address:

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