Document:

Indemnification Agreement for Directors and Executive Officers - CNX Gas

 Exhibit 10.7 
 Execution Copy 
 CNX GAS CORPORATION 
 INDEMNIFICATION AGREEMENT 
 THIS
INDEMNIFICATION AGREEMENT (this “Agreement”) is made as of             , 20     (the “Effective Date”), by and between CNX
Gas Corporation, a Delaware corporation (the “Company”), and              (the             
“Indemnitee”). 
 RECITALS: 
 A. It is essential that the Company retain and attract as directors and officers the most capable persons available. 
 B. The Indemnitee is (or is being elected as) a director and/or officer of the Company and in that capacity is (or will be) performing a valuable service for the Company. 
 C. The Company’s Bylaws (the “Bylaws”) contain a provision which provides for indemnification of and advancement of
expenses to the directors and officers of the Company for liabilities and expenses they incur in their capacities as such, and the Bylaws and section 145 of the General Corporation Law of the State of Delaware (“DGCL”)
provide that they are not exclusive of any other rights to indemnification and advancement of expenses. 
 D. In recognition of
Indemnitee’s need for protection against personal liability in order to enhance Indemnitee’s service and continued service to the Company in an effective manner, the potential difficulty in obtaining satisfactory Directors and Officers
Liability Insurance (“D&O Insurance”) coverage, and Indemnitee’s reliance on the Bylaws, and in part to provide Indemnitee with specific contractual assurance that the protection promised by the Bylaws will be
available to Indemnitee (regardless of, among other things, any amendment to or revocation of the Bylaws or any change in the composition of the Company’s Board of Directors or acquisition transaction relating to the Company), the Company
desires to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent permitted by law and as set forth in this Agreement, and, to the extent insurance is maintained, for the continued
coverage of Indemnitee under the Company’s D&O Insurance policies. 
 E. The Indemnitee is willing to serve and/or to
continue to serve, the Company, only on the condition that the Company furnish the indemnity provided for herein. 
 NOW, THEREFORE,
in consideration of Indemnitee’s service and/or continuing to serve the Company directly, or, at its request, another enterprise and intending to be legally bound hereby, the parties hereto agree as follows: 
 1. Definitions. 
 (a) A “Change in
Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events: 
 (i) the acquisition after the date hereof by any individual, entity or group (within the meaning of section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule
13d-3 promulgated under the Exchange Act) of more than 25% of the 

 
combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of its directors (“Voting
Stock”); provided, however, that for purposes of this Section 1(a)(i), the following acquisitions will not constitute a Change in Control: (A) any issuance of Voting Stock of the Company directly from the Company that is
approved by the Incumbent Board (as defined in Section 1(a)(ii), below), (B) any acquisition by the Company and/or CONSOL Energy Inc. (“CONSOL”) and any of their respective subsidiaries of Voting Stock of the
Company, (C) any acquisition of Voting Stock of the Company by any employee benefit plan (or related trust) sponsored or maintained by the Company, a subsidiary or CONSOL and/or its subsidiaries, (D) any acquisition of Voting Stock of the
Company by an underwriter holding securities of the Company in connection with a public offering thereof, or (E) any acquisition of Voting Stock of the Company by any Person pursuant to a Business Combination that complies with clauses (A),
(B) and (C) of Section 1(a)(iii) below; or 
 (ii) other than at a time when CONSOL and/or its subsidiaries beneficially own
more than 50% of the total Voting Stock of the Company, individuals who constitute the Board as of the Effective Date (the “Incumbent Board,” as modified by this Section 1(a)(ii)), cease for any reason to constitute at
least a majority of the Board; provided, however, that any individual becoming a Director subsequent to such date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least two-thirds of the
Directors then comprising the Incumbent Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without objection to such nomination) will be deemed to have then
been a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of Directors or
other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 
 (iii) consummation of
a reorganization, merger or consolidation of the Company or a direct or indirect wholly owned subsidiary thereof, a sale or other disposition (whether by sale, taxable or nontaxable exchange, formation of a joint venture or otherwise) of all or
substantially all of the assets of the Company, or other transaction involving the Company (each, a “Business Combination”), unless, in each case, immediately following such Business Combination, (A) all or substantially
all of the individuals and entities who were the beneficial owners of Voting Stock of the Company immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then
outstanding shares of Voting Stock of the entity resulting from such Business Combination or any direct or indirect parent corporation thereof (including, without limitation, an entity which as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or more subsidiaries), (B) no Person other than the Company and/or CONSOL and/or their respective subsidiaries beneficially owns 25% or more of the combined voting
power of the then outstanding shares of Voting Stock of the entity resulting from such Business Combination or any direct or indirect parent corporation thereof (disregarding all “acquisitions” described in subsections (A) - (C) of
Section 1 (a) (i)), and (C) other than at a time when CONSOL and/or its subsidiaries beneficially own more than 50% of the total Voting Stock of the Company, at least a majority of the members of the Board of Directors of the entity
resulting from such Business Combination or any direct or indirect parent corporation thereof were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business
Combination; 
 (iv) approval by the stockholders of the Company of a complete liquidation or dissolution of the Company, except pursuant to
a Business Combination that complies with clauses (A), (B) and (C) of Section 1(a)(iii); or 
  

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 (v) other than at a time when CONSOL and/or its subsidiaries beneficially own less than 50% of the total
Voting Stock of the Company, a Change in Control of CONSOL (defined in Section 1(j) below). 
 (vi) Other Events. Other than at a
time when CONSOL and/or its subsidiaries beneficially own less than 50% of the total Voting Stock of the Company, any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or
in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended, whether or not the Company is then subject to such reporting requirement. 
 (b) “Corporate Status” describes the status of a person who is or was a director, trustee, general partner, managing member,
officer, employee, agent or fiduciary of the Company. 
 (c) “Disinterested Director” means a director of the Company
who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 
 (d)
“Expenses” include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges,
postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise
participating in, a Proceeding. Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond,
supersedeas bond or other appeal bond or their equivalent, and (ii) for purposes of Section 12(d), Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this
Agreement or under any D&O Insurance policies maintained by the Company. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 
 (e) “Independent Counsel” means a law firm, or a partner or member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter material to either such party (other than as Independent Counsel with respect to matters concerning Indemnitee
under this Agreement or as Independent Counsel with respect to matters concerning other indemnitees under other indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing, the term “Independent 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 rights under this Agreement. 
 (f) “Interested Shareholder”
means any person (other than the Company or any subsidiary of the Company and other than any profit sharing, employee stock ownership, or other employee benefit plan of the Company or any subsidiary of the Company or any trustee of or fiduciary with
respect to any such plan when acting in such capacity and other than CONSOL and its subsidiaries) who or which: 
 (i) is at such time the
beneficial owner, directly or indirectly, of more than fifteen percent (15%) of the voting power of the outstanding common stock of the Company; 
  

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 (ii) was at any time within the two-year period immediately prior to such time the beneficial owner,
directly or indirectly, of more than fifteen percent (15%) of the voting power of the then outstanding common stock of the Company; or 
 (iii) is at such time an assignee of or has otherwise succeeded to the beneficial ownership of any shares of common stock of the Company which were at any time within the two-year period immediately prior to such time beneficially owned by
any Interested Shareholder, if such assignment or succession has occurred in the course of a transaction or series of transactions not involving a public offering within the meaning of the Securities Act of 1933, as amended. 
 (g) A “Potential Change of Control” shall occur if: 
 (i) the Company enters into an agreement or arrangement the consummation of which would result in the occurrence of a Change of Control; 
 (ii) any Person (including the Company) publicly announces an intention to take or to consider taking actions which if consummated would constitute a
Change in Control; or
 (iii) the Board of Directors of the Company adopts a resolution to the effect that, for purposes of this Agreement, a
Potential Change of Control has occurred. 
 (h) “Proceeding” means any threatened, pending or completed action,
suit, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or
investigative nature, including any appeal therefrom and including without limitation any such Proceeding pending as of the date of this Agreement, in which Indemnitee was, is or will be involved as a party, a potential party, a non-party witness or
otherwise by reason of (i) the fact that Indemnitee is or was a director or officer of the Company, (ii) any action taken by Indemnitee or any action or inaction on Indemnitee’s part while acting as a director or officer of the
Company, or (iii) the fact that he or she is or was serving at the request of the Company as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust,
limited liability company or other enterprise, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification or advancement of expenses can be provided under this Agreement.

 (i) “Unaffiliated Director” means any member of the Board of Directors of the Company who is unaffiliated with,
and not a representative of, an Interested Shareholder and who was a member of the Board of Directors prior to the time that the Interested Shareholder became an Interested Shareholder or became a member subsequently to fill a vacancy created by an
increase in the size of the Board of Directors and did receive the favorable vote of two-thirds (2/3) of the Unaffiliated Directors in connection with being nominated for election by the shareholders to fill such vacancy or in being elected by
the Board of Directors to fill such vacancy, and any successor of a Unaffiliated Director who is unaffiliated with, and not a representative of, the Interested Shareholder and is recommended or elected to succeed a Unaffiliated Director by a
majority of the Unaffiliated Directors then on the Board of Directors. 
 (j) “Change in Control of CONSOL” means the
occurrence of any of the following events: 
 (i) the acquisition after the date hereof by any individual, entity or group (within the meaning of section
13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 25% of the combined voting power of the then outstanding Voting
Stock of CONSOL; provided, however, that for purposes of this 

  

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Section 1(j)(i), the following acquisitions will not constitute a Change in Control of CONSOL: (A) any issuance of Voting Stock of CONSOL directly
from CONSOL that is approved by the Incumbent Board of CONSOL (as defined in Section 1(j)(ii), below), (B) any acquisition by CONSOL and/or its subsidiaries of Voting Stock of CONSOL, (C) any acquisition of Voting Stock of CONSOL by
any employee benefit plan (or related trust) sponsored or maintained by CONSOL and/or its subsidiaries, (D) any acquisition of Voting Stock of CONSOL by an underwriter holding securities of CONSOL in connection with a public offering thereof,
or (E) any acquisition of Voting Stock of CONSOL by any Person pursuant to a Business Combination of CONSOL that complies with clauses (A), (B) and (C) of Section 1(j)(iii), below; or 
 (ii) individuals who constitute the Board of Directors of CONSOL (the “CONSOL Board”) as of the Effective Date (the “Incumbent Board
of CONSOL,” as modified by this Section 1(j)(ii)), cease for any reason to constitute at least a majority of the CONSOL Board; provided, however, that any individual becoming a director subsequent to such date whose election, or
nomination for election by CONSOL’s stockholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board of CONSOL (either by a specific vote or by approval of the proxy statement of CONSOL in which
such person is named as a nominee for director, without objection to such nomination) will be deemed to have then been a member of the Incumbent Board of CONSOL, but excluding, for this purpose, any such individual whose initial assumption of office
occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the CONSOL Board; or

 (iii) consummation of a reorganization, merger or consolidation of CONSOL, a sale or other disposition (whether by sale, taxable or nontaxable exchange,
formation of a joint venture or otherwise) of all or substantially all of the assets of CONSOL, or other transaction involving CONSOL (each, a “Business Combination of CONSOL”), unless, in each case, immediately following
such Business Combination of CONSOL, (A) all or substantially all of the individuals and entities who were the beneficial owners of Voting Stock of CONSOL immediately prior to such Business Combination of CONSOL beneficially own, directly or
indirectly, more than 50% of the combined voting power of the then outstanding shares of Voting Stock of the entity resulting from such Business Combination of CONSOL or any direct or indirect parent corporation thereof (including, without
limitation, an entity which as a result of such transaction owns CONSOL or all or substantially all of CONSOL’s assets either directly or through one or more subsidiaries), (B) no Person other than CONSOL beneficially owns 25% or more of
the combined voting power of the then outstanding shares of Voting Stock of the entity resulting from such Business Combination of CONSOL or any direct or indirect parent corporation thereof (disregarding all “acquisitions” described in
subsections (A) - (C) of Section 1 (j)(i)), and (C) at least a majority of the members of the board of directors of the entity resulting from such Business Combination of CONSOL or any direct or indirect parent corporation thereof were
members of the Incumbent Board of CONSOL at the time of the execution of the initial agreement or of the action of the CONSOL Board providing for such Business Combination of CONSOL; or 
 (iv) approval by the stockholders of CONSOL of a complete liquidation or dissolution of CONSOL, except pursuant to a Business Combination of CONSOL that complies with clauses (A), (B) and (C) of
Section 1(j)(iii). 
 Reference to “other enterprises” shall include employee benefit plans and administrative
committees thereof; references to “fines” shall include any excise taxes assessed on a person with respect to any employee benefit plan; references to “serving at the request of the Company” shall
include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; a
person who acted in good faith and in a manner he or she reasonably 

  

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believed to be in the best interests of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner
“not opposed to the best interests of the Company” as referred to in this Agreement; references to “to the fullest extent permitted by applicable law” shall include, but not be limited to: (i) the
fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL and (ii) the fullest extent authorized
or permitted by any amendments to or replacements of the DGCL adopted after the date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors. 
 2. Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 2 if Indemnitee is,
or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 2, Indemnitee shall be indemnified to the fullest
extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter
therein, if Indemnitee acted in good faith and in a manner he or she 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 that his
or her conduct was unlawful. 
 3. Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in
accordance with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3,
Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter
therein, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses shall be made under this Section 3 in respect of any claim,
issue or matter as to which Indemnitee shall have been adjudged by a court of competent jurisdiction to be liable to the Company, unless and only to the extent that the Delaware Court of Chancery or any court in which the Proceeding 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 indemnification for such expenses as the Delaware Court of Chancery or
such other court shall deem proper. 
 4. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the extent that
Indemnitee is a party to or a participant in and is successful (on the merits or otherwise) in defense of any Proceeding or any claim, issue or matter therein, the Company shall indemnify Indemnitee against all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. To the extent permitted by applicable law, if Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, in defense of one or
more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with each successfully resolved claim, issue or matter. For purposes of this Section, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful
result as to such claim, issue or matter. 
 5. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee, by reason of his or her Corporate Status, is to be a witness or to be interviewed in any threatened, pending or completed action, suit, arbitration, mediation, alternate dispute resolution mechanism,
investigation, inquiry, administrative hearing or proceeding to which 

  

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Indemnitee is not a party, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 
 6. Additional Indemnification. In the event that applicable
law permits indemnification in addition to the indemnification provided in Sections 2, 3 and 4, the Company shall indemnify Indemnitee to the fullest extent permitted by applicable law if Indemnitee is, or is threatened to be made, a party to or a
participant in any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on
his or her behalf in connection with the Proceeding or any claim, issue or matter therein. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be
afforded currently under the Company’s certificate of incorporation and bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change, subject to
the restrictions expressly set forth herein or therein. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the
Company shall nevertheless indemnify the Indemnitee for the portion of such Expenses to which the Indemnitee is entitled. 
 7. Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee, then in respect of any actual or threatened proceeding in which the Company is jointly liable with Indemnitee
(or would be if joined in such proceeding) the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for Expenses, judgments, fines or amounts paid or to be paid in settlement, 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 transaction(s) giving rise to such Proceeding; and (ii) the relative fault of Indemnitee and the Company (and its other directors, officers, employees and agents) in connection with such event(s)
and transaction(s). 
 8. Notification and Defense of Claim. 
 (a) Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek indemnification or advancement of Expenses as soon as reasonably practicable following the receipt by
Indemnitee of written notice thereof. The written notification to the Company shall include a description of the nature of the Proceeding and the facts underlying the Proceeding. The failure by Indemnitee to notify the Company will not relieve the
Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights. With respect to any Proceeding as to
which the Indemnitee has so notified the Company: 
 (i) The Company will be entitled to participate therein at its own expense; and

 (ii) Except as otherwise provided below, the Company may assume the defense thereof, with counsel reasonably satisfactory to the
Indemnitee. After the Company notifies the Indemnitee of its election to so assume the defense, the Company will not be liable to the Indemnitee under this Agreement for any legal Expenses subsequently incurred by the Indemnitee in connection with
the defense, other than legal Expenses relating to the reasonable costs of investigation, including an investigation in connection with determining whether there exists a conflict of interest of the type described in clause (ii) of this
paragraph, or as otherwise provided in this paragraph. The Indemnitee shall 

  

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have the right to employ his or her counsel in such action, suit or proceeding but the fees and expenses of such counsel incurred after the Company notifies
the Indemnitee of its assumption of the defense shall be at the expense of the Indemnitee unless (i) the Company authorizes the Indemnitee’s employment of counsel, provided, that following a Change of Control, the Indemnitee shall be
entitled to employ his or her own counsel at the Company’s expense after giving not less than 30 days’ notice to the Company unless the Company has Unaffiliated Directors and a majority of the Unaffiliated Directors determine that the
Indemnitee’s interests are adequately represented by the counsel employed by the Company; (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of
the defense or (iii) the Company shall not have employed counsel to assume the defense of such action, in each of which cases the fees and expenses of counsel shall be at the expense of the Company. The Company shall not be entitled to assume
the defense of any action, suit or proceeding brought by or on behalf of the Company or as to which the Indemnitee shall have made the conclusion described in clause (ii) of this paragraph.
 (b) The Company shall not be obligated to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any action or claim
effected without its written consent. The Company shall not settle any action or claim in any manner which would impose any penalty or limitation on the Indemnitee without the Indemnitee’s written consent. Neither the Company nor the Indemnitee
shall unreasonably withhold their consent to any proposed settlement. 
 9. Procedure for Indemnification. 
 (a) To obtain indemnification, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information
as is reasonably available to Indemnitee and as is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. The Company shall, as soon as reasonably
practicable after receipt of such a request for indemnification, advise the board of directors that Indemnitee has requested indemnification. 
 (b) Upon written request by Indemnitee for indemnification pursuant to Section 9(a), a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case (i) if a
Change in Control shall have occurred, by Independent Counsel in a written opinion to the Company’s board of directors, a copy of which shall be delivered to Indemnitee or (ii) if a Change in Control shall not have occurred, (A) by a
majority vote of the Disinterested Directors, even though less than a quorum of the Company’s board of directors, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less
than a quorum of the Company’s board of directors, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Company’s board of directors, a copy
of which shall be delivered to Indemnitee or (D) if so directed by the Company’s board of directors, by the stockholders of the Company. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be
made within ten (10) days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person,
persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any
costs or expenses (including attorneys’ fees and disbursements) reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company, to the extent permitted by
applicable law. 
 (c) In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to
Section 9(b), the Independent Counsel shall be selected as provided in 

  

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this Section 9(c). If a Change in Control shall not have occurred, the Independent Counsel shall be selected by the Company’s board of directors,
and the Company shall give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Change in Control shall have occurred, the Independent Counsel shall be selected by Indemnitee (unless
Indemnitee shall request that such selection be made by the Company’s board of directors, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent
Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written
objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in
Section 1 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is
so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within twenty (20) days after
the later of (i) submission by Indemnitee of a written request for indemnification pursuant to Section 9(a) hereof and (ii) the final disposition of the Proceeding, the parties have not agreed upon an Independent Counsel, either the
Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and for the appointment as Independent
Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 9(b)
hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 12(a) of this Agreement, the Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the
applicable standards of professional conduct then prevailing), 
 (d) The Company agrees to pay the reasonable fees and expenses of any
Independent Counsel and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
 10. Advancement of Expenses; Procedure for Advances. The Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in
connection with any Proceeding. Advances shall be unsecured and interest free and made without regard to Indemnitee’s ability to repay such advances. Indemnitee hereby undertakes to repay any advance to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified by the Company. To obtain advances of Expenses, Indemnitee shall submit from time to time to the Company a written request requesting such advances and shall provide copies of invoices
received by Indemnitee in connection with such Expenses but, in the case of invoices in connection with legal services, any references to legal work performed or to expenditure made that Indemnitee’s lawyers believe would likely cause
Indemnitee to waive any privilege accorded by applicable law may be redacted from the copy of the invoice submitted to the Company (in which case, Indemnitee shall also submit a letter addressed to the Company from such lawyers to the effect that
they believe submission of the redacted information would likely cause Indemnitee to waive a privilege accorded by applicable law). Upon receipt of a such a request for an advance of Expenses along with copies of the related invoices (and, if
applicable, a letter from Indemnitee’s lawyers with respect to redactions on the legal invoice(s)), Company shall advance the Expenses to Indemnitee as soon as reasonably practicable, but in any event no later than sixty (60) days, after
such receipt by the Company. This Section 10 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 16 of this Agreement. 
  

 9 

 11. Maintenance of Insurance; Funding. 
 (a) The Company represents that a summary of the terms of the D&O Insurance in effect as of the date of this Agreement is attached hereto as
Exhibit A (the “Insurance Policies”). Subject only to the provisions of Section 11(b) hereof, the Company agrees that, so long as Indemnitee shall continue to serve as an officer or director of the Company (or
shall continue at the request of the Company to serve as a director, officer, employee, trustee or representative of another corporation, partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit
plan) and thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal or investigative, by reason of the fact that Indemnitee was a director or
officer of the Company (or served in any of said other capacities), the Company shall purchase and maintain in effect for the benefit of Indemnitee one or more valid, binding and enforceable policy or policies of D&O Insurance providing coverage
at least comparable to that provided pursuant to the Insurance Policies. 
 (b) The Company shall not be required to maintain said policy or
policies of D&O Insurance in effect if, in the reasonable, good faith business judgment of the then Board of Directors of the Company (i) the premium cost for such insurance is substantially disproportionate to the amount of coverage,
(ii) the coverage provided by such insurance is so limited by exclusions that there is insufficient benefit from such insurance or (iii) said insurance is not otherwise reasonably available; provided, however, that in the event the then
Board of Directors makes such a judgment, the Company shall purchase and maintain in force a policy or policies of D&O Insurance in the amount and with such coverage as the then Board of Directors determines to be reasonably
available. Notwithstanding the general provisions of this Section 11(b), following a Change of Control, any decision not to maintain any policy or policies of D&O Insurance or to reduce the amount or coverage under any such policy or
policies shall be effective only if there are Unaffiliated Directors (as defined in Section 1(i) hereof) and shall require the concurrence of a majority of the Unaffiliated Directors. 
 (c) If and to the extent the Company, acting under Section 11(b), does not purchase and maintain in effect the policy or policies of D&O
Insurance described in Section 11(a), the Company shall indemnify and hold harmless the Indemnitee to the full extent of the coverage which would otherwise have been provided by such policies. The rights of the Indemnitee hereunder shall
be in addition to all other rights of Indemnitee under the remaining provisions of this Agreement. 
 (d) In the event of a Potential Change
of Control and if and to the extent the Company is not required to maintain in effect the policy or policies of D&O Insurance described in Section 11(a) pursuant to the provisions of Section 11(b), the Company shall, upon written
request of Indemnitee, create a “Trust” for the benefit of Indemnitee, and from time to time, upon written request by Indemnitee, shall fund such Trust in an amount sufficient to pay any and all Expenses and any and all liability and loss,
including judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement actually and reasonably incurred by him or on his behalf for which the Indemnitee is entitled to indemnification or with respect to which
indemnification is claimed, reasonably anticipated or proposed to be paid in accordance with the terms of this Agreement or otherwise; provided that in no event shall more than $100,000 be required to be deposited in any Trust created hereunder in
excess of the amounts deposited in respect of reasonably anticipated Expenses. The amounts to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by a majority of the Unaffiliated Directors whose
determination shall be final and conclusive. At all times the Trust shall remain as an asset of the Company and subject to the claims of the Company’s creditors. 
 The terms of the Trust shall provide that upon a Change of Control (i) the Trust shall not be revoked or the principal thereof invaded, without the
written consent of the Indemnitee except as set 

  

 10 

 
forth in the preceding paragraph, (ii) the procedures set forth in Section 10 regarding advancement of expenses with respect to the Company shall
apply to the Trust, (iii) the Trust shall continue to be funded by the Company in accordance with the funding obligation set forth above (and in the event that there are no Unaffiliated Directors, the decision regarding the amount to fund shall
be made by Independent Counsel selected as provided in Section 9(c)), (iv) the Trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or otherwise,
and (v) all unexpended funds in such Trust shall revert to the Company upon a final determination by a majority of the Unaffiliated Directors or by Independent Counsel or a court of competent jurisdiction, as the case may be, that the
Indemnitee has been fully indemnified under the terms of this Agreement. The Trustee shall be a bank or trust company or other individual or entity chosen by the Indemnitee and reasonably acceptable and approved of by the Company. 

12. Remedies of Indemnitee. 
 (a) Subject to
Section 12(d), in the event that (i) a determination is made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made
pursuant to Section 10 or 12(d) of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 9 of this Agreement within ninety (90) days after receipt by the Company of the
request for indemnification, (iv) payment of indemnification pursuant to this Agreement is not made (A) within ten (10) days after a determination has been made that Indemnitee is entitled to indemnification or (B) with respect
to indemnification pursuant to Sections 4, 5 or 12(d) of this Agreement, within thirty (30) days after receipt by the Company of a written request therefor, or (v) the Company or any other person or entity takes or threatens to take
any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder,
Indemnitee shall be entitled to an adjudication by the Delaware Court of Chancery of Indemnitee’s right to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at his or her option, may seek an award in arbitration to be
conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration in accordance with this
Agreement. 
 (b) The failure of the Company, its board of directors, any committee or subgroup of the board of directors, Independent
Counsel or stockholders to have made a determination that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct shall not be a defense to the action or create a presumption that Indemnitee has
or has not met the applicable standard of conduct. In the event that a determination shall have been made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration
commenced pursuant to this Section 12 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or
arbitration commenced pursuant to this Section 12, the Company shall, to the fullest extent not prohibited by law, have the burden of proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.

 (c) To the fullest extent not prohibited by law, the Company shall be precluded from asserting in any judicial proceeding or arbitration
commenced pursuant to this Section 12 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Company is bound by all the
provisions of this Agreement. If a determination shall have been made pursuant to Section 9 of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or
arbitration commenced pursuant to this Section 12, absent (i) a misstatement by 

  

 11 

 
Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statements not materially misleading, in connection with
the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. 
 (d) The Company shall indemnify
Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (as soon as reasonably practicable, but in any event no later than sixty (60) days, after receipt by the Company of a written request therefor) advance such Expenses
to Indemnitee, that are incurred by Indemnitee in connection with any action for indemnification or advancement of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance policies maintained
by the Company, to the extent Indemnitee is successful in such action and to the extent not prohibited by law. 
 (e) Notwithstanding
anything in this Agreement to the contrary, no determination as to entitlement to indemnification shall be required to be made prior to the final disposition of the Proceeding. 
 13. Presumptions and Effect of Certain Proceedings. 
 (a) In making a determination with
respect to entitlement to indemnification hereunder, the person, persons or entity making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this Agreement if
Indemnitee has submitted a request for indemnification in accordance with Section 9 of this Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with
the making by such person, persons or entity of any determination contrary to that presumption. 
 (b) The termination of any Proceeding or of
any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right
of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 
 (c) For purposes of any determination of
good faith, Indemnitee shall be deemed to have acted in good faith to the extent Indemnitee relied in good faith on (i) the records or books of account of the Company, including financial statements, (ii) information supplied to Indemnitee
by the officers of the Company in the course of their duties, (iii) the advice of legal counsel for the Company or its board of directors or counsel selected by any committee of the board of directors or (iv) information or records given
or reports made to the Company by an independent certified public accountant, an appraiser, investment banker or other expert selected with reasonable care by the Company or its board of directors or any committee of the board of directors. The
provisions of this Section 13(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. 
 (d) Neither the knowledge, actions nor failure to act of any other director, officer, agent or employee of the Company shall be imputed to Indemnitee for
purposes of determining the right to indemnification under this Agreement. 
 14. Subrogation; No Duplication of Payments. In the event that
the Company pays any Expenses under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights 

  

 12 

 
of recovery of the 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. The Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder (or for which
advancement is provided hereunder) if and to the extent that Indemnitee has otherwise actually received payment from a third party for such amounts under any insurance policy, contract, agreement or otherwise; provided, however, that if the
Indemnitee repays any of these payments to such third party (whether due to a reservation of rights or otherwise), the Company shall again be obligated to Indemnitee under this Agreement with respect to such payments. 
 15. Services to Company. Indemnitee agrees to serve as a director or officer of the Company for so long as Indemnitee is duly elected or appointed or until
Indemnitee tenders his or her resignation. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries) and Indemnitee. Indemnitee specifically acknowledges that any employment with the Company (or any
of its subsidiaries) is at will, and Indemnitee may be discharged at any time for any reason, with or without cause, with or without notice, except as may be otherwise expressly provided in any executed, written employment contract between
Indemnitee and the Company (or any of its subsidiaries), any existing formal severance policies adopted by the Company’s board of directors or, with respect to service as a director or officer of the Company, the Company’s certificate of
incorporation or bylaws or the DGCL. 
 16. Exclusions. Notwithstanding the foregoing, the Company shall not be liable under this Agreement to
pay any Expenses in connection with any Proceeding: 
 (a) for any reimbursement of the Company by Indemnitee of any bonus or other
incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended (including any such reimbursements that
arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by
Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including pursuant to any settlement arrangements); 
 (b) for a disgorgement of profits made from the purchase and sale by the Indemnitee of securities pursuant to Section 16(b) of the Securities
Exchange Act of 1934 and amendments thereto or similar provisions of any state statutory law or common law; 
 (c) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding
(or the relevant part of the Proceeding) prior to its initiation, (ii) otherwise authorized in Section 12(d) or (iii) otherwise required by applicable law; or 
 (d) if prohibited by applicable law. 
 17.
Amendments. The entitlement to payment hereunder of an Indemnitee shall not be affected or diminished by any amendment, termination or repeal of the General Corporation Law of the State of Delaware or the Bylaws of the Company with
respect to any Proceeding arising out of or relating to any actions, transactions or facts occurring prior to the final adoption of any such amendment, termination or repeal. This Agreement may not be modified or altered except by a formal writing
signed by both parties that specifically refers to this Agreement. 
  

 13 

 18. Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together
shall constitute one instrument. 
 19. Indemnification Hereunder Not Exclusive. Nothing herein shall be deemed to diminish or otherwise
restrict the Indemnitee’s right to indemnification under any provision of the Restated Certificate of Incorporation or the Bylaws of the Company and amendments thereto or under law. Except as expressly set forth herein, no right or remedy
herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. It is the intention of the parties in entering into this Agreement that the
insurers under any D&O Insurance policy of the Company or of CONSOL which applies to the Company as a subsidiary of CONSOL shall be obligated ultimately to pay any claims by Indemnitee which are covered by such policy and not to give such
insurers any rights against the Company under or with respect to this Agreement, including, without limitation, any right to be subrogated to any of Indemnitee’s rights hereunder, unless otherwise expressly agreed to by the Company in writing,
and the obligation of such insurers to the Company or Indemnitee shall not be deemed reduced or impaired in any respect by virtue of the provisions of this Agreement. Notwithstanding any other indemnification to which the Indemnitee may be entitled
from CONSOL, the Company desires to serve as the primary indemnitor and the indemnitor of first resort with respect to the Indemnitee’s service to the Company as a member of the Board or officer to the extent that any D&O Insurance
maintained by the Company, or by CONSOL to the extent that any CONSOL D&O Insurance applies to the Company as a subsidiary of CONSOL, has not indemnified the Indemnitee (“Uninsured Loss”). As between the Company on the
one hand and CONSOL on the other, the Company shall have the primary and first responsibility to indemnify fully the Indemnitee for any Uninsured Loss with respect to the Indemnitee’s service to the Company and its subsidiaries. As such, the
Company (and not CONSOL) shall be required to advance Expenses and be liable for all Uninsured Loss amounts paid in settlement of any claims for which the Indemnitee would be entitled to indemnification from the Company under this Agreement or
otherwise. Further, the Company hereby irrevocably waives, relinquishes and releases CONSOL from any claims against CONSOL for contribution, subrogation or any other type of recovery in respect of indemnification obligations owed to the Indemnitee
with respect to the Indemnitee’s service to the Company and its subsidiaries. If CONSOL advances any amount to the Indemnitee with respect to an Uninsured Loss for which the Indemnitee is entitled to indemnification from the Company, CONSOL
shall be expressly permitted to seek reimbursement from the Company for such advanced amount and for any amounts incurred by CONSOL (including in respect of attorneys’ fees and expenses) in enforcing such right to reimbursement. The Company and
the Indemnitee acknowledge and agree that CONSOL is an express third party beneficiary of the terms hereof. 
 20. Governing Law. This
Agreement shall be governed by and construed in accordance with Delaware law. 
 21. Saving Clause. Wherever there is conflict between any
provision of this Agreement and any applicable present or future statute, law or regulation contrary to which the Company and the Indemnitee have no legal right to contract, the latter shall prevail but (a) the validity, legality and
enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to
applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement
containing any such 

  

 14 

 
provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the
intent manifested thereby but in such event the affected provisions of this Agreement shall be curtailed and restricted only to the extent necessary to bring them within applicable legal requirements. 
 22. Coverage; Continuation of Indemnity. The provisions of this Agreement shall apply with respect to the Indemnitee’s service as a Director or
officer of the Company prior to the date of this Agreement (if any) and with respect to all periods of such service after the date of this Agreement, even though the Indemnitee may have ceased to be a Director or officer of the Company and shall
inure to the benefit of the heirs, executors and administrators of Indemnitee. All agreements and obligations of the Company contained in this Agreement shall continue during the period the Indemnitee is a director or officer of the Company (or is
or was serving at the request of the Company as a director, trustee, general partner, managing member, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust, limited liability company or other enterprise)
and shall continue thereafter so long as the Indemnitee shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal or investigative, by reason of the fact that the Indemnitee was a
director or officer of the Company or serving in any other capacity referred to herein. 
 23. Successors. This Agreement shall be binding upon
the Company and its 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, and shall inure to the benefit of Indemnitee
and Indemnitee’s heirs, executors and administrators. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the
Company, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 
 24. Miscellaneous. 
 (a) No amendment,
modification, termination or cancellation of this Agreement shall be effective unless in writing signed by both of the parties hereto; provided, however, that the Company may amend this Agreement from time to time without Indemnitee’s consent
to the extent deemed necessary or appropriate, in its sole discretion, to effect compliance with Section 409A of the Code, including regulations and interpretations thereunder, which amendments may result in a reduction of benefits provided
hereunder and/or other unfavorable changes to Indemnitee. 
 (b) This Agreement is intended to provide for the indemnification of, and/or
purchase of insurance policies providing for payments of, expenses and damages incurred with respect to bona fide claims against the Indemnitee, as a service provider, or the Company, as the service recipient, in accordance with Treas. Reg.
Section 1.409A-1(b)(10), pursuant to which the Agreement shall not provide for the deferral of compensation. The Agreement shall be construed consistently, and limited in accordance with, the provisions of such regulation. 
 (c) This Agreement supersedes the Indemnification Agreement dated as of [date], by and between the Company and the Indemnitee. 
 [remainder of page intentionally left blank] 
  

 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and signed
as of the day and year first above written. 
  

			
	CNX GAS CORPORATION
		
	By:	 	  

	Name:	 	J. Brett Harvey
	Title:	 	Chief Executive Officer

  

	
	INDEMNITEE
	
	  

  

 16Sixth Amendment to Loan Agreement

 Exhibit 10.1 
 SIXTH AMENDMENT TO LOAN AGREEMENT 
 This SIXTH AMENDMENT TO LOAN AGREEMENT (this
“Amendment”), dated as of July 29, 2009, is entered into by and among CASCADE CORPORATION, an Oregon corporation, (the “Borrower”), the several financial institutions party as of the date hereof to the Loan
Amendment referred to below (collectively called the “Lenders” and individually called a “Lender”), and BANK OF AMERICA, N.A., as agent for itself and the Lenders (in such capacity, the “Agent”).

 RECITALS 
 A. The
Borrower, the Lenders and the Agent are parties to a Loan Agreement, dated as of February 28, 2003 (as amended from time to time, the “Loan Agreement”). 
 B. Pursuant to the Loan Agreement, the Lenders have extended and are continuing to extend certain credit facilities to the Borrower. 
 C. The Borrower, the Agent and the Lenders desire to reduce the Aggregate Commitments, as defined in the Loan Agreement, from $143,750,000 to
$115,000,000, subject to an option to increase the aggregate commitments by up to $30,000,000, along with certain other modifications. 
 D.
The Agent and Lenders are willing to amend the Loan Agreement, but only as provided, and subject to the terms and conditions contained, in this Amendment. 
 THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Defined Terms Unless otherwise defined herein, each capitalized term used herein shall have the meaning assigned thereto in the Loan Agreement. 
 2. Amendment to Loan Agreement Upon the effectiveness of, and subject to the terms and conditions contained in, this Amendment: 
 (a) Section 1.1 (Certain Defined Terms) is hereby amended to delete the definition of “Applicable Interest Rate” and replace such
definition with the following: 
 “‘Applicable Interest Rate’ means the following percentages per annum, based upon the
Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the Agent pursuant to Section 6.10(c): 
  

 1 

 Applicable Interest Rate 
  

									
	 Pricing Level
	 	 Consolidated
 Leverage Ratio
	 	 Commitment Fee
 (Basis Points)
	 	 Standby L/C Fee and
 Offshore Rate +
 (Basis Points)

	 	 Base Rate +
 (Basis Points)

	 1
	 	33.00:1.00	 	50.0	 	300.0	 	50.0
	 2
	 	 32.00:1.00 but
 <3.00:1.00
	 	40.0	 	250.0	 	25.0
	 3
	 	31.00:1.00 but <2.00:1.00	 	35.0	 	200.0	 	0
	 4
	 	<1.00:1.00	 	30.0	 	150.0	 	0

 Any increase or decrease in the Applicable Interest Rate resulting from a change in the
Consolidated Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.10(c); provided, however, that if a Compliance Certificate
is not delivered when due in accordance with such Section, then Pricing Level 1 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered until such time as the Compliance
Certificate has been delivered and the actual Pricing Level has been determined. The Applicable Interest Rate in effect from the date of this Amendment through receipt of the financial statements for the period ending July 31, 2009, and the
accompanying Compliance Certificate, shall be determined based upon Pricing Level 1.” 
 (b) Section 1.1 is hereby amended to add
the following definition: 
 “‘Collateral’ means any and all assets and rights and interests in or to property of the
Borrower and each of the other Subsidiary Guarantors, whether real or personal, tangible or intangible, in which a Lien is granted or purported to be granted pursuant to the Collateral Documents.” 
 (c) Section 1.1 is hereby amended to add the following definition: 
 “‘Collateral Documents’ means the Security Agreement, Subsidiary Security Agreements, and all other agreements, instruments and documents now or hereafter executed and 

  

 2 

 
delivered in connection with this Agreement pursuant to which Liens are granted or purported to be granted to the Agent securing all or part of the
Obligations each in form and substance satisfactory to Agent.” 
 (d) Section 1.1 is hereby amended to delete the definition of
“Consolidated Adjusted EBITDA” and replace such definition with the following: 
 “‘Consolidated Adjusted
EBITDA’ means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus the following to the extent deducted in calculating such Consolidated Net
Income for such period: (a) Consolidated Interest Charges (b) the provision for federal, state, local and foreign income taxes payable by the Borrower and its Subsidiaries and (c) the amount of depreciation and amortization and other
non-cash expense, including goodwill impairment, derivative mark-to-market transactions, swap-related expenses, expenses related to stock-based compensation, including but not limited to stock options and stock appreciation rights, and other similar
non-cash items. In addition, ‘Consolidated Adjusted EBITDA’ shall include the non-consolidated results for any Permitted Acquisition made during the subject period, as adjusted for items (a), (b) and (c) above.” 

“Consolidated Adjusted EBITDA shall include the following estimated adjustments for cash restructuring and severance costs: 
  

				
	 Fiscal Quarter Ending
	  	Total Estimated
Adjustment
Per Quarter
	 October 31, 2008
	  	$	1,943,000
	 January 31, 2009
	  	 	1,143,000
	 April 30, 2009
	  	 	4,640,000
	 July 31, 2009
	  	 	1,071,000
	 October 31, 2009
	  	 	10,855,000

 For covenant calculation purposes, the adjustments above shall be applied on a rolling
four-quarter basis. (Therefore, the earliest adjustment for the period ending October 31, 2008 shall be incorporated in calculations made as of July 31, 2009, but shall not be used in calculations made as of October 31, 2009.) The
adjustments set forth above are estimates, and they may be revised to reflect actual cash restructuring and severance costs, or the period within which such costs are actually incurred, with the consent of the Agent. 
  

 3 

 (e) Section 1.1 is hereby amended to delete the definition of “Consolidated Interest Coverage
Ratio” and replace such definition with the following: 
 “‘Consolidated Fixed Charge Coverage Ratio’ means, as of
any date of determination, the ratio of (a) Consolidated Adjusted EBITDA, less taxes paid in cash by the Borrower and its Subsidiaries, less maintenance capital expenditures of $8,000,000, less dividends paid in cash, all for the period
comprising the four prior fiscal quarters ending on such date, to (b) Consolidated Interest Charges paid in cash, plus consolidated principal payments required of Borrower and its Subsidiaries during the subject period.” 
 “‘During the one-year period ending July 31, 2010, this ratio shall include adjustments to Consolidated Adjusted EBITDA for cash severance
and restructuring expenses. 
 (f) Section 1.1 is hereby amended to delete the definition of “Loan Documents” and replace with
the following: 
 “‘Loan Documents’ means, collectively, this Amendment, the Loan Agreement, the Notes, the Guaranty,
the Subsidiary Guarantees, the Subsidiary Security Agreements, and all other documents executed by the Borrower or any Guarantor or Subsidiary Guarantor and delivered to the Agent or the Lenders (or any one of them) in connection with the
transactions contemplated by this Amendment or the Loan Agreement as the same may be amended, restated, supplemented or otherwise modified from time to time.” 
 (g) Section 1.1 is hereby amended to delete the definition of “Majority Lenders” and replace it with the following: 
 “‘Majority Lenders’ means, as of any date of determination, Lenders having more than two-thirds, or approximately 66.67%, of the Aggregate Commitments.” 
 (h) Section 1.1 is hereby amended to delete the definition of “Permitted Acquisition” and replace it with the following: 
 “‘Permitted Acquisition’ means any acquisition, whether by purchase, merger or otherwise, of all or substantially all of the assets
of, or more than fifty percent (50%) of the equity securities entitled to vote for members of the board of directors or equivalent governing body of, or a business line or a division of, any Person; provided that: (i) all Persons,
assets, business lines or divisions acquired shall be in the type of business permitted to be engaged in by the Borrower and its Subsidiaries pursuant to Section 7.7; (ii) no Default or Event of Default shall then exist or would exist

  

 4 

 
after giving effect to such acquisition; and (iii) if so requested, the Borrower shall demonstrate to the reasonable satisfaction of the Lenders that,
after giving effect to such acquisition, the Borrower will be in pro forma compliance with all of the terms and provisions of the financial covenants set forth in Section 6.13, and shall maintain line of credit availability of Twenty Million
Dollars ($20,000,000).” 
 (i) Section 1.1 is hereby amended to add the following definition: 
 “‘Security Agreement’ means the Security Agreement by and between the Borrower and the Agent dated contemporaneously with this
Amendment.” 
 (j) Section 1.1 is hereby amended to add the following definition: 
 “‘Subsidiary Guarantor’ means all subsidiaries of Borrower, unless Agent on behalf of the Lenders expressly excludes such subsidiary
from the requirement that they guarantee all obligations of Borrower.” 
 (k) Section 1.1 is hereby amended to add the following
definition: 
 “‘Subsidiary Guaranty’ means the Subsidiary Guaranty made by a Subsidiary Guarantor in favor of the Agent
and the Lenders, substantially in the form of Exhibit F.” 
 (l) Section 1.1 is hereby amended to add the following
definition: 
 “‘Subsidiary Security Agreement’ means each security agreement executed by a Subsidiary Guarantor to
secure its obligations under its Subsidiary Guaranty, substantially in the form of Exhibit G.” 
 (m) Section 2.1(a) (The
Revolving Loans and Commitment Increase Option) is hereby amended to revise each Lender’s “Commitment Amount,” and delete the allocation of “Aggregate Commitments” between the Lenders and replace it with the following:

  

							
	 Lender
	  	Percentage
Interest	 	 	Commitment
Amount
	 Bank of America
	  	60.00	% 	 	$	69,000,000
	 Union Bank
	  	40.00	% 	 	$	46,000,000
		  	 	 	 	 	 
	 Total
	  	100.00	% 	 	$	115,000,000

  

 5 

 (n) Section 2.1(b) is hereby deleted and replaced with the following: 
 “At its option at any time prior to, the Borrower may seek to increase the Aggregate Commitments by up to an aggregate amount of Thirty Million
Dollars ($30,000,000) (resulting in maximum Aggregate Commitments of One Hundred Forty-Five Million Dollars ($145,000,000)) upon written notice to the Agent, which notice shall specify the amount of any such increase and shall be delivered at a time
when no Default or Event of Default has occurred and is continuing. The Borrower may make such a request on not more than three (3) occasions in minimum increments of Five Million Dollars ($5,000,000), provided such amount is also within the
limitations provided above. The Agent, subject to the consent of Borrower, which shall not be unreasonably withheld, may allocate the increase (which may be declined by any Lender in its sole discretion) in the Aggregate Commitments on either a
ratable basis to the Lenders or on a non pro-rata basis to one or more Lenders and/or to other banks or entities reasonably acceptable to the Agent and the Borrower. No increase in the Aggregate Commitments shall become effective until the existing
or new Lenders extending such incremental Commitment Amount and the Borrower shall have delivered to the Agent a document in form reasonably satisfactory to the Agent pursuant to which any such existing Lender states the amount of its Commitment
increase, any such new Lender states its Commitment Amount and agrees to assume and accept the obligations and rights of Lender hereunder and the Borrower accepts such incremental Commitments. The Lenders (new or existing) shall accept an assignment
from the existing Lenders, and the existing Lenders shall make an assignment to the new or existing Lender accepting a new or increased Commitment, of an interest (or participation interest, as applicable) in all Loans and other credit exposure in
respect of the Aggregate Commitments such that, after giving effect thereto, all Loans and all such other credit exposure are held ratably by the Lenders in proportion to their respective Commitments, as may be revised to accommodate the increase in
the Aggregate Commitments. Assignments pursuant to the preceding sentence shall be made in exchange for the principal amount assigned plus accrued and unpaid interest and commitment and other fees. The Borrower shall make any payments under
Section 2.8(e) resulting from such assignments, and shall pay the Lenders certain reasonable and customary fees. Borrower shall also pay Lenders an arrangement fee, to be determined by the Lenders at such time as the increase in Aggregate
Commitments is implemented.” 
  

 6 

 (o) Section 2.13(b) (Upfront Fee) is hereby deleted and replaced with the following with regard to
this Amendment: 
 “Borrower shall pay to Bank of America, as Agent for the Lenders, an upfront fee in the amount of One Hundred
Forty-Three Thousand Seven Hundred Fifty Dollars ($143,750), or twelve and a half (12.5) basis points as applied to the Aggregate Commitments, which shall be shared equally by the Lenders in accordance with their respective Percentage
Interests. This fee, as well as an arrangement fee to be presented separately to Borrower, shall be due and payable in full at closing of this Amendment, and shall be fully earned and non-refundable when paid. Any exercise of the increase option as
provided in Section 2.1(b) shall require payment of any additional agency fee required under the Fee Letter, as well as an additional upfront fee and arrangement fee to be mutually agreed upon at the time of the request by the Agent and
Borrower.” 
 (p) Section 4.2(a) (Manner of Requesting Letters of Credit) is hereby deleted and replaced with the following:

 “Letter of Credit Requests. From time to time during the Commitment Period, Borrower may request that the L/C Issuer issue
standby letters of credit for Borrower’s account or extend or renew any existing Letters of Credit. Such request will be made by delivering a written request for the issuance, extension or renewal of such a letter of credit to the L/C Issuer,
not later than 12:00 noon (Seattle time) on the date a new letter of credit is to be issued or an existing letters of credit is scheduled to expire. Each such request shall be deemed to constitute a representation and warranty by Borrower that as of
the date of such request the statements set forth in Article 5 hereof are true and correct and that no Default or Event of Default has occurred and is continuing or will occur as a result of issuing, extending or renewing the letter of credit.
Each such request shall (1) specify the face amount of the requested Letter of Credit, (2) the proposed date of expiration, (3) the name of the intended beneficiary thereof, and (4) whether such Letter of Credit is a new standby
letter of credit or an extension or renewal thereof. Each standby Letter of Credit requested hereunder shall be in a face amount such that after issuance of such letter of credit (i) the principal amount of all Revolving Loans outstanding plus
the Letter of Credit Usage will not exceed the Aggregate Commitments; and (ii) the Letter of Credit Usage will not exceed Fifteen Million Dollars ($15,000,000). In addition to the foregoing, unless otherwise approved by Lenders, each Letter of
Credit requested hereunder, shall have an expiration date not later than one year after the Maturity Date, or one year after the date of issuance of such Letter of Credit. However, any Letter of Credit that remains outstanding after the Maturity
Date shall be secured 

  

 7 

 
by cash or deposit account balances in form and substance satisfactory to the Agent. The Lenders severally agree to participate in Letters of Credit issued
for the account of the Borrower; provided that the L/C Issuer shall not be obligated to make any L/C Credit Extension with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of Credit if, as of the
date of such L/C Credit Extension, the limitations set forth above are exceeded. In the sole discretion of L/C Issuer, L/C Issuer may issue Letters of Credit in currencies other than that of the United States of America.” 
 (q) Article 6 (Affirmative Covenants) is hereby amended to add the following affirmative covenant: 
 “6.15 Collateral Records. To execute and deliver promptly, and to cause the Borrower and each Subsidiary Guarantor to execute and deliver
promptly, to Agent, from time to time, solely for Agent’s convenience in maintaining a record of the Collateral, such written statements and schedules as Agent may reasonably require designating, identifying or describing the Collateral. The
failure by the Borrower or any Subsidiary Guarantor, however, to promptly give Agent such statements or schedules shall not affect, diminish, modify or otherwise limit the Liens on the Collateral granted pursuant to the Collateral Documents.”

 (r) Sections 6.13(b) and (c) (Financial Covenants) are hereby deleted, and a new Section 7.12 is hereby added: 
 “Section 7.12 Financial Covenants. 
 (a) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio to be less than 1.15:1.00 through January 30, 2010; (ii) 1.25:1.00 from January 31, 2010 through July 30, 2010; and
(iii) 1.50:1.00 from July 31, 2010 and at all times thereafter. 
 (b) Consolidated Leverage Ratio. Permit the Consolidated
Leverage Ratio to be greater than 4.00:1.00 through April 29, 2010; (ii) 3.50:1.00 from April 30, 2010 through July 30, 2010; and (iii) 3.00:1.00 as of July 31, 2010 and at all times thereafter.” 
 (s) Section 7.3 (Indebtedness) is hereby deleted and replaced with the following: 
 “The Borrower shall not, and shall cause each Subsidiary to not, create, incur or become liable for any Indebtedness except: (a) the Loans;
(b) existing Indebtedness reflected on the balance sheets 

  

 8 

 
referred to in Section 5.7; (c) current accounts payable or accrued expenses incurred by the Borrower in the ordinary course of business;
(d) Indebtedness permitted under Section 7.4; (e) intercompany Indebtedness owing by the Borrower or any Subsidiary to the Borrower or any other Subsidiary permitted under Section 7.6; (f) Indebtedness secured by newly
purchased tangible property (whether real or personal) in an aggregate amount no greater than Ten Million Dollars ($10,000,000) outstanding at any time; and (g) additional unsecured Indebtedness, provided that the total aggregate amount of such
unsecured Indebtedness including any additional amount does not exceed Ten Million Dollars ($10,000,000) at any time, and provided that Borrower remains in compliance with all covenants set forth herein.” 
 (t) Section 7.11(c) (Capital Stock Repurchases) is hereby deleted and replaced with the following: 
 “Section 7.11(c) Capital Stock Repurchases. During the term of this Agreement, the Borrower shall not purchase or repurchase any of its
capital stock, or other equity interests, including through any redemption, acquisition, cancellation or termination transaction or series of transactions.” 
 (u) Section 7.11(d) (Dividends) is hereby added: 
 “Section 7.11(d) Dividends. During the
term of this Agreement, the Borrower shall not pay dividends, or make any similar distribution to the shareholders, if such dividend or distribution would result in a breach of the Consolidated Fixed Charge Coverage Ratio.” 
 (v) Section 8.1(m) (Change in Control) is hereby deleted and replaced with the following: 
 “Section 8.1(m) Change in Control. A Change in Control occurs without the express written consent of Agent and the Lenders. For purposes of
this Section, “Change in Control” means (1) any change in the composition of Borrower’s board of directors over a period of twenty-four (24) consecutive months or less such that a majority of the board of directors ceases,
by reason of one or more contested elections for board membership, to be comprised of individuals who either (A) have been members of the board continuously since the beginning of such period, or (B) have been elected or nominated for
election by board members described in (A) who were still in office at the time such election or nomination was approved by the board; or (2) the sale, transfer or other 

  

 9 

 
disposition of all or substantially all of Borrower’s assets in a liquidation or dissolution of Borrower; or (3) any merger or consolidation in
which equity securities of the Borrower entitled to vote for members of the board of directors of Borrower (“Voting Securities”) exceeding more than forty percent (40%) of the total amount outstanding of such Voting Securities are
transferred to persons different from the persons holding those Voting Securities immediately prior to such transaction; or (4) the acquisition by a person or a group of related persons, other than Borrower or a person controlling, controlled
or under common control with Borrower, of beneficial ownership (as determined pursuant to Rule 13d-3 of the Securities Exchange Act of 1934) of Voting Securities comprising more than thirty-five percent (35%) of the total of Borrower’s
outstanding Voting Securities pursuant to a transaction or series of related transactions which the board of directors of Borrower does not at any time recommend that the Borrower’s shareholders accept or approve.” 
 (w) Article 9 (The Agent) is hereby amended to add the following Section 9.8: 
 “9.8 Collateral and Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Agent, at its option and in its discretion,

 (a) to release any Lien on any property granted to or held by the Agent under any Loan Document (i) upon termination
of the Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification obligations) and the expiration or termination of all Letters of Credit, (ii) that is sold or to be sold as part of or in connection with
any sale permitted hereunder or under any other Loan Document, (iii) to confirm that the Agent does not claim a Lien or security interest in specific property leased to Borrower under a lease which Borrower certifies to Agent is an operating
lease, (iv) to release or subordinate any Lien or security interest in specific property not covered elsewhere and not exceeding an aggregate value of $2,000,000 during any fiscal year, or (v) subject to Section 10.1, if
approved, authorized or ratified in writing by the Majority Lenders; 
 (b) to subordinate any Lien on any property granted to
or held by the Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 7.3(f); 
  

 10 

 (c) to release any Subsidiary Guarantor from its obligations under the Subsidiary
Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder; 
 (d) to enter into the
Collateral Documents for the benefit of such Lender and the L/C Issuer. Each Lender and the L/C Issuer hereby agrees, and each holder of any Note by the acceptance thereof will be deemed to agree, that, except as otherwise set forth in
Section 10.01, any action taken by the Majority Lenders, in accordance with the provisions of this Agreement or the Collateral Documents, and the exercise by the Majority Lenders of the powers set forth herein or therein, together with such
other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders and the L/C Issuer. Agent is hereby authorized (but not obligated) on behalf of all of the Lenders and the L/C Issuer, without the necessity
of any notice to or further consent from any Lender or the L/C Issuer from time to time prior to, an Event of Default, to take any action with respect to any Collateral or Collateral Documents which may be necessary to perfect and maintain perfected
the Liens upon the Collateral granted pursuant to the Collateral Documents. Agent shall have no obligation whatsoever to any Lender, the L/C Issuer or any other Person to assure that the Collateral exists or it owned by Borrower or any Subsidiary
Guarantors or is cared for, protected or insured or that the Liens granted to Agent herein or in any of the Collateral Documents or pursuant hereto or thereto have been properly or sufficiently or lawfully created, perfected, protected or enforced
or are entitled to any particular priority, or to exercise or to continue exercising at all or in any manner or under any duty of care, disclosure or fidelity any of the rights, authorities and powers granted or available to Agent in this
Section 9.8 or in any of the Collateral Documents, it being understood and agreed that in respect of the Collateral, or any act of omission or event related thereto, Agent may act in any manner it may deem appropriate, in its sole discretion,
given Agent’s own interest in the Collateral as one of Lenders and that Agent shall have no duty or liability whatsoever to Lenders or the L/C Issuer, to the extent they are not the same parties; and 
 (e) act as agent for the purpose of perfecting Lenders’ and the L/C Issuer’s security interest in assets which, in accordance
with Article 9 of the Uniform Commercial Code can be perfected only by possession. Should any Lender or the L/C Issuer (other than Agent) obtain possession of any such Collateral, such Lender or L/C Issuer shall notify Agent thereof, and, promptly
upon Agent’s request therefor shall deliver such Collateral to Agent or in accordance with Agent’s instructions. 
  

 11 

 Upon request by the Agent at any time, the Majority Lenders will confirm in writing the
Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Subsidiary Guarantor from its obligations under the Guaranty pursuant to this Section 9.8. 
 3. Representations and Warranties. The Borrower hereby represents and warrants to the Agent and the Lenders as follows: 
 (a) No Default or Event of Default has occurred and is continuing. 
 (b) The execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate and other action and do not and will not require any registration with, consent or
approval of, or notice to or action by any Person (including any Governmental Person) in order to be effective and/or enforceable. Each of this Amendment and the Loan Agreement as amended by this Amendment constitutes the legal, valid and binding
obligation of the Borrower, enforceable against it, without defense, counterclaim or offset, in accordance with its terms (subject to the waivers set forth in this Amendment), except as limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws of general applicability affecting the enforceability of creditors’ rights. 
 (c) All representations and warranties of
the Borrower contained in the Loan Agreement and the statements set forth in the recitals of this Amendment are true and correct on and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a
specific date, as of such specific date), in each case, other than (i) those that would not be true and correct but for the effectiveness of this Amendment, and (ii) with respect to Section 5.16 of the Loan Agreement, as otherwise
disclosed to the Agent. The Borrower has updated the schedules to the Loan Agreement in accordance with the attached schedules. 
 (d) The
Borrower is entering into this Amendment on the basis of its own business judgment, without reliance upon the Agent, any Lender or any other Person. 
 4. Effective Date. This Amendment will become effective as of the date first set forth above (the “Effective Date”), provided that each of the following conditions precedent is satisfied
on or before the Effective Date: 
 (a) the Agent has received, in sufficient number for each Lender, duly executed originals (or, if elected
by the Agent, an executed facsimile copy, to be followed promptly by delivery of executed originals) of this Amendment, executed by the Borrower and each of the Lenders and acknowledged by the Agent, together with the Guarantor Acknowledgment and
Consent attached hereto, executed by each Guarantor, and such other documentation as Agent shall reasonably require, including, but not limited to, an opinion of counsel to the Borrower and the Guarantors, resolutions authorizing the transaction
described herein, officer’s certificates, and security documentation, including, but not limited to, security agreements, pledge agreements, guarantees, and other similar documentation required by the Agent and Lenders. 
  

 12 

 (b) all of the representations and warranties contained herein (or incorporated herein by reference) are
true and correct as of the Effective Date. 
 5. Security. The parties acknowledge that certain security documentation, including, but
not limited to, opinion letters and evidence of a first priority, perfected security interest in all foreign and domestic Collateral, may not be available at closing. Borrower agrees to deliver all such items requested by Agent and Lenders, in form
and substance satisfactory to Agent and Lenders in their sole discretion, not later than ninety (90) days from the date of this Agreement. 
 6. No Further Amendments. Other than the specific amendments of the Loan Agreement as set forth in Section 2 hereof: (i) nothing contained herein shall be deemed a waiver of any provision, or any other existing or future
noncompliance with any provision, of the Loan Agreement (including the Loan Agreement as amended hereby); and (ii) all of the terms, covenants and provisions of the Loan Agreement are and shall remain in full force and effect. 
 7. Miscellaneous. 
 (a) All references
in the Loan Agreement and in the other Loan Documents to the Loan Agreement shall henceforth refer to the Loan Agreement as amended by this Amendment. This Amendment shall be deemed incorporated into, and a part of, the Loan Agreement. This
Amendment is a Loan Document. 
 (b) This Amendment is made pursuant to Section 10.1 of the Loan Agreement and shall be binding upon and
inure to the benefit of the parties hereto and thereto and their respective successors and assigns. No third party beneficiaries are intended in connection with this Amendment. 
 (c) This Amendment shall be governed by and construed in accordance with the law of the State of Oregon. 
 (d) This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument. Each of the parties hereto understands and agrees that this document (and any other document required herein) may be delivered by any party thereto either in the form of an executed original or an executed
original sent by facsimile transmission to be followed promptly by delivery of a hard copy original, and that receipt by the Agent of a facsimile transmitted document purportedly bearing the signature of a Lender or the Borrower (or Guarantor) shall
bind such Lender or the Borrower (or Guarantor), respectively, with the same force and effect as the delivery of a hard copy original. Any failure by the Agent to receive the hard copy executed original of such document shall not diminish the
binding effect of receipt of the facsimile transmitted executed original of such document of the party whose hard copy page was not received by the Agent. 
  

 13 

 (e) If any term or provision of this Amendment shall be deemed prohibited by or invalid under any
applicable law, such provision shall be invalidated without affecting the remaining provisions of this Amendment or the Loan Agreement, respectively. 
 (f) Each of the provisions set forth in Section 10 of the Loan Agreement is incorporated herein by this reference and made applicable to this Amendment. 
 (g) The Borrower covenants to pay to or reimburse the Agent, upon demand, for all reasonable costs and expenses (including reasonable attorneys’
fees) incurred in connection with the development, preparation, negotiation, execution and delivery of this Amendment and related documents, including any attorneys’ fees, costs and expenses incurred in connection with the security
documentation described in Section 5 above. 
 (h) UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY THE LENDERS
CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION, AND BE SIGNED BY THE LENDERS TO BE ENFORCEABLE.

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

  

									
	CASCADE CORPORATION, as the Borrower	 		 	BANK OF AMERICA, N.A., as Agent
					
	By:	 	 /s/    JOSEPH G. POINTER
	 		 	By:	 	 /s/    TIFFANY SHIN

	Name:	 	 Joseph G. Pointer
	 		 	Name:	 	 Tiffany Shin

	Title:	 	 Chief Financial Officer
	 		 	Title:	 	 Assistant Vice President Bank of America

			
	BANK OF AMERICA, N.A., as a Lender	 		 	UNION BANK OF CALIFORNIA, N.A., as a Lender
					
	By:	 	 /s/    MICHAEL SNOOK
	 		 	By:	 	 /s/    STEPHEN SLOAN

	Name:	 	 Michael Snook
	 		 	Name:	 	 Stephen Sloan

	Title:	 	 Vice President for Bank of America
	 		 	Title:	 	 Vice President for Union Bank

  

 14 

 GUARANTOR ACKNOWLEDGMENT AND CONSENT 
 The undersigned Guarantor hereby: (i) acknowledges and consents to the terms, and the execution, delivery and performance, of the foregoing
Amendment (the “Amendment”) (without implying the need for any such acknowledgment or consent); and (ii) represents and warrants to the Agent and the Lenders that, both before and after giving effect to the Amendment:
(A) its Guaranty remains in full force and effect as an enforceable obligation of such Guarantor (except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting
the enforceability of creditors’ rights), without defense, counterclaim or offset; and (B) it is in compliance with all of its covenants contained in its Guaranty and in each other Loan Document applicable to it. The undersigned further
represents and warrants to the Agent and the Lenders that the execution and delivery by such Guarantor of, and the performance by such Guarantor of its obligations under, this Guarantor Acknowledgment and Consent, have been duly authorized by all
necessary corporate and other action and do not and will not require any registration with, consent or approval of, or notice to or action by any Person (including, without limitation, any Governmental Person) in order to be effective and/or
enforceable. The undersigned remakes as of the Effective Date (as defined in the Amendment) all of the representations and warranties made by it under its Guaranty. Capitalized terms used herein and not otherwise defined have the respective meanings
assigned to them in the Loan Agreement (as defined in the Amendment). 
 IN WITNESS WHEREOF, the undersigned Guarantor has executed this
Guarantor Acknowledgment and Consent by its duly authorized officer as of July 29, 2009. 
  

			
	CASCADE XIAMEN FORKLIFT TRUCK ATTACHMENT CO., LTD, a company formed under the laws of the People’s Republic of China
		
	By:	 	 /s/    RICHARD ANDERSON

	Name:	 	 Richard Anderson

	Title:	 	 Director

	
	JIAHAI (HEBEI) FORKS CO., LTD., a company formed under the laws of the People’s Republic of China
		
	By:	 	 /s/    JOHN ALLEN CUSHING

	Name:	 	 John Allen Cushing

	Title:	 	 Director

  

 15 

			
	CASCADE HEBEI FORK CO., LTD, a company formed under the laws of the People’s Republic of China
		
	By:	 	 /s/    JOHN ALLEN CUSHING

	Name:	 	 John Allen Cushing

	Title:	 	 Director

	
	CASCADE (U.K.) LIMITED, a company formed under the laws of the United Kingdom
		
	By:	 	 /s/    DAVIDE RONCARI

	Name:	 	 Davide Roncari

	Title:	 	 Vice President Europe

	
	CASCADE NV, a company formed under the laws of The Netherlands
		
	By:	 	 /s/    JOSEPH G. POINTER

	Name:	 	 Joseph G. Pointer

	Title:	 	 Director

	
	CASCADE (FRANCE) S.A.R.L., a company formed under the laws of France
		
	By:	 	 /s/    DAVIDE RONCARI

	Name:	 	 Davide Roncari

	Title:	 	 Vice President Europe

	
	CASCADE GmbH, a company formed under the laws of Germany
		
	By:	 	 /s/    DAVIDE RONCARI

	Name:	 	 Davide Roncari

	Title:	 	 Vice President Europe

  

 16 

			
	CASCADE (CANADA) LTD., a company formed under the laws of Canada
		
	By:	 	 /s/    JOSEPH G. POINTER

	Name:	 	 Joseph G. Pointer

	Title:	 	 Director

	
	CASCADE ITALIA S.r.l., a company formed under the laws of Italy
		
	By:	 	 /s/    DAVIDE RONCARI

	Name:	 	 Davide Roncari

	Title:	 	 Vice President Europe

	
	CASCADE (AUSTRALIA) PTY. LTD., a company formed under the laws of Australia
		
	By:	 	 /s/    JOSEPH G. POINTER

	Name:	 	 Joseph G. Pointer

	Title:	 	 Director

	
	PSM, LLC, a Washington limited liability company
		
	By:	 	 /s/    JOHN ALLEN CUSHING

	Name:	 	 John Allen Cushing

	Title:	 	 Treasurer

  

 17 

 EXHIBIT F 
 FORM OF SUBSIDIARY GUARANTY 
 See attached. 
  

 18 

 EXHIBIT G 
 FORM OF SUBSIDIARY SECURITY AGREEMENT 
 See attached. 
  

 19 

 SCHEDULE 1 
 LITIGATION 
 (LOAN AGREEMENT SECTION 5.6) 
 No change. 
  

 20 

 SCHEDULE 2 
 TITLE AND LIENS 
 (LOAN AGREEMENT SECTION 5.9) 
 Cascade (Japan) Limited, a wholly-owned subsidiary of the Borrower, has a mortgage in the amount of Yen 386,250,000 as of June 30, 2009. The mortgage is secured by a lien on Cascade Japan’s land and
building. 
 State of Oregon Active UCC Filings (as of July 29, 2009): 
  

					
	 Date
	    	 File #
	  	 Description

	8-25-08	    	8065701	  	1 RICMP5000SP M5785100487
	4-23-09	    	8248367	  	Canon Laserclass 830i-Fax w/accessories

  

 21 

 SCHEDULE 3 
 INTELLECTUAL PROPERTY 
 (LOAN AGREEMENT SECTION 5.10) 
 No change. 
  

 22 

 SCHEDULE 4 
 ENVIRONMENTAL LAWS, ETC. 
 (LOAN AGREEMENT SECTION 5.11) 
 No change. 
  

 23 

 SCHEDULE 5 
 SUBSIDIARIES 
 (LOAN AGREEMENT SECTION 5.17) 
 Cascade Corporation 
 SUBSIDIARIES 
 MAY 7, 2009 
 (Attachment I)

  

									
	 Subsidiary
	  	Type of
Operation	  	Percent
Owned	 	Date Acquired or
Created	  	Domestic or
Foreign
	 Cascade Xiamen Forklift Truck Attachment Co., Ltd.
	  	Sales and
Manufacturing	  	100%	 	Created 1987	  	Foreign
	 Cascade (Africa) Pty. Ltd.
	  	Sales	  	100%	 	Created 1967	  	Foreign
	 Cascade Korea Limited
	  	Sales	  	100%	 	Created 1990	  	Foreign
	 Cascade (Sheffield) Ltd.
	  	Finance	  	100%	 	Created 1967	  	Foreign
	 Cascade NV
	  	Sales and
Manufacturing	  	100%	 	Created 1959	  	Foreign
	 Cascade (Scandinavia) Hydraulik A.B.
	  	Sales	  	100%	 	Created 1974	  	Foreign
	 Cascade Hispania S.A.
	  	Sales	  	100%	 	Created 1985	  	Foreign
	 Cascade (France) S.A.R.L.
	  	Sales and
Warehouse	  	100%	 	Created 1968	  	Foreign
	 Cascade GmbH
	  	Sales and
Manufacturing	  	100%	 	Created 1968	  	Foreign
	 Cascade (Japan) Limited
	  	Sales	  	100%	 	Created 1967	  	Domestic
(Foreign Branch
dissolved 05-18-07)

	 Cascade (Canada) Ltd.
	  	Sales and
Manufacturing	  	100%	 	Acquired 1997	  	Foreign
	 Kenhar Products Ltd.
	  	Dormant	  	100%	 	Acquired 1997	  	Foreign
	 Cascade (U.K.) Limited
	  	Sales and
Manufacturing	  	100%	 	Acquired 1997	  	Foreign
	 Cascade New Zealand Ltd.
	  	Sales	  	100%	 	Acquired 1997	  	Foreign
	 CNS (Nova Scotia) Co.
	  	Dormant	  	100%	 	Created 1997	  	Foreign
	 CNS (Halifax) Ltd.
	  	Finance	  	100%	 	Created 1997	  	Foreign

  

 24 

									
	 Subsidiary
	  	Type of
Operation	  	Percent
Owned	 	Date Acquired or
Created	  	Domestic or
Foreign
	 Cascade (Australia) Pty. Ltd.
	  	Sales and
Manufacturing	  	100%	 	Acquired 1997	  	Foreign
	 Hyco-Cascade Pty. Ltd.
	  	Dormant	  	100%	 	Acquired 1997	  	Foreign
	 Valray Engineering Pty. Ltd.
	  	Dormant	  	100%	 	Acquired 1997	  	Foreign
	 White Systems International Pty. Ltd.
	  	Dormant	  	100%	 	Acquired 1997	  	Foreign
	 Cascade IFSC Ltd.
	  	Finance	  	100%	 	Created 1998	  	Foreign
	 Jiahai (Hebei) Forks Co. Ltd.
	  	Sales and
Manufacturing	  	100%	 	Acquired 1997	  	Foreign
	 3038715 Nova Scotia Co.
	  	Dormant	  	100%	 	Created 2000	  	Foreign
	 Cascade (Hong Kong) Forklift Truck Attachment Company Limited
	  	Sales	  	100%	 	Created 2001	  	Foreign
	 Cascade Grundstucks GmbH
	  	Finance	  	100%	 	Created 2004	  	Foreign
	 Cascade France MHP S.A.R.L.
	  	Sales	  	100%	 	Created 2002	  	Foreign
	 Cascade Italia S.r.l.
	  	Sales and
Manufacturing	  	100%	 	Created 1985	  	Foreign
	 PSM LLC
	  	Sales and
Manufacturing	  	100%	 	Created 2006	  	Domestic
	 American Compaction Equipment, Inc.
	  	Sales and
Manufacturing	  	100%	 	Acquired 2007	  	Domestic
	 Cascade India Pvt. Ltd.
	  	Sales	  	100%	 	Created 2009	  	Foreign
	 Cascade (Hebei) Fork Co., Ltd.
	  	Sales and
Manufacturing	  	100%	 	Created 2006	  	Foreign

  

 25 

 EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES 
 In addition to any items disclosed in the preceding schedules, the Borrower provides the following additional disclosures relating to the representations and warranties
set forth in the Loan Agreement: 
  

 26 

 TAXES 
 (LOAN AGREEMENT SECTION 5.12) 
 The IRS has proposed adjustments totaling $5 million related to interest deductions reported on the Borrower’s
tax returns for the 2004 and 2005 tax years. These adjustments would result in an additional federal and state tax liability of $1.8 million. The Borrower is appealing this issue with the IRS, and expects to prevail on this issue. This item is
disclosed in Note 9 – Income Taxes in the Financial Statements. 
  

 27 

 ERISA 
 (LOAN AGREEMENT SECTION 5.16) 
 The Borrower sponsors defined benefit plans in France and England. These plans are funded, and the Borrower’s
policy is to make annual contributions based on actuarially determined funding requirements. The accumulated benefit obligation of the plans was $6.2 million at January 31, 2009, and the net unfunded pension liability was $1 million.

 The Borrower also provides a post-retirement benefit plan, consisting of health care coverage for eligible retirees and qualifying dependents in the
United States. This plan is not funded, and the Borrower has no plan to provide funding other than annual contributions, which represent the benefits paid for the year. 
  

 28 

 The attached subsidiary guaranty and subsidiary security agreement exhibits have been signed by the following
subsidiaries of Cascade Corporation: 
 CASCADE XIAMEN FORKLIFT TRUCK ATTACHMENT CO., LTD. 
 JIAHANI (HEBEI) FORKS CO., LTD. 
 CASCADE HEBEI FORK CO. LTD. 
 CASCADE (U.K) LIMITED 
 CASCADE NV 
 CASCADE (FRANCE) S.A.R.L. 
 CASCADE GBMH 
 CASCADE
(CANADA) LTD. 
 CASCADE ITALIA S.R.L. 
 CASCADE (AUSTRALIA) PTY.
LTD. 
 PSM, LLC 
  

 29 

 EXHIBIT F 
 CONTINUING GUARANTY 
 This Guaranty (“Guaranty”) is made as of July 29, 2009, by
                                , a
                                (“Guarantor”) in favor of Bank of
America, N.A., a national banking association, as agent for its benefit and the ratable benefit of the Lenders (as defined below) and its successors as agent for the Lenders (in such capacity, and together with its successors as agent for the
Lenders, the “Agent”). 
 Factual Background 
 Guarantor is executing this Guaranty pursuant to the Loan Agreement dated as of February 28, 2003 by and among Cascade Corporation, an Oregon corporation (the “Borrower”), the several financial
institutions from time to time party thereto (collectively, the “Lenders”), and Agent, as agent for the Lenders (as amended, restated, modified, renewed, supplemented or extended from time to time, the “Loan
Agreement”). Capitalized terms used in this Guaranty and not defined herein shall have the meanings given in the Loan Agreement. 
 Guarantor is a
wholly-owned subsidiary of Borrower. Guarantor will receive benefit from the loans made by the Lenders in that Borrower provides needed working capital to Guarantor, and Guarantor will obtain a significant portion of that working capital from loans
made by the Lenders to Borrower. 
 1. Guaranty. Guarantor hereby absolutely and unconditionally guarantees, as a guarantee of payment and not merely
as a guarantee of collection, prompt payment when due, whether at stated maturity, upon acceleration or otherwise, and at all times thereafter, all obligations of Borrower under or in connection with the Loan Agreement and each of the other Loan
Documents to which Borrower is or may become a party, whether for principal, interest, costs, fees, expenses, indemnities or otherwise and all obligations of Guarantor existing under this Guaranty and each other Loan Document to which it is or may
become a party, in each case whether now existing or hereafter arising, and whether due or to become due, absolute or contingent, liquidated or unliquidated, determined or undetermined, and as the same may from time to time be modified, amended,
extended or renewed (including all renewals, extensions and modifications thereof and all costs, attorneys’ fees and expenses incurred by Agent in connection with the collection or enforcement thereof) (collectively, the “Guaranteed
Obligations”). Agent’s books and records showing the amount of the Guaranteed Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon Guarantor and conclusive for the purpose of establishing
the amount of the Guaranteed Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Guaranteed Obligations or any instrument or agreement evidencing any Guaranteed Obligations, or by the
existence, validity, enforceability, perfection, or extent of any collateral therefor, or by any fact or circumstance relating to the Guaranteed Obligations which might otherwise constitute a defense to the obligations of Guarantor under this
Guaranty. The obligations of Guarantor hereunder shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code (Title 11, United
States Code) or any comparable provisions of any applicable state law. 
 2. No Setoff or Deductions. All payments by Guarantor hereunder shall be
paid in full, without setoff or counterclaim or any deduction or withholding whatsoever, including, without limitation, for any and all present and future taxes. 
  

 30 

 3. No Termination. This Guaranty is a continuing and irrevocable guaranty of all Guaranteed Obligations now or
hereafter existing and shall remain in full force and effect until all Guaranteed Obligations and any other amounts payable under this Guaranty are indefeasibly paid and performed in full and any commitments of Agent or facilities provided by Agent
with respect to the Guaranteed Obligations are terminated. 
 4. Waiver of Notices. Guarantor waives notice of the acceptance of this Guaranty and of
the extension or continuation of the Guaranteed Obligations or any part thereof. Guarantor further waives presentment, protest, notice, dishonor or default, demand for payment and any other notices to which Guarantor might otherwise be entitled.

 5. Subrogation. Guarantor shall exercise no right of subrogation, contribution or similar rights with respect to any payments it makes under this
Guaranty until all of the Guaranteed Obligations and any amounts payable under this Guaranty are indefeasibly paid and performed in full and any commitments of Agent or facilities provided by Agent with respect to the Guaranteed Obligations are
terminated. If any amounts are paid to Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of Agent and shall forthwith be paid to Agent to reduce the amount of the Guaranteed Obligations,
whether matured or unmatured. 
 6. Waiver of Suretyship Defenses. Guarantor agrees that Agent may, at any time and from time to time, and without
notice to Guarantor, make any agreement with Borrower or with any other person or entity liable on any of the Guaranteed Obligations or providing collateral as security for the Guaranteed Obligations, for the extension, renewal, payment, compromise,
discharge or release of the Guaranteed Obligations or any collateral (in whole or in part), or for any modification or amendment of the terms thereof or of any instrument or agreement evidencing the Guaranteed Obligations or the provision of
collateral, all without in any way impairing, releasing, discharging or otherwise affecting the obligations of Guarantor under this Guaranty. Guarantor waives any defense arising by reason of any disability or other defense of Borrower or any other
guarantor, or the cessation from any cause whatsoever of the liability of Borrower, or any claim that Guarantor’s obligations exceed or are more burdensome than those of Borrower and waives the benefit of any statute of limitations affecting
the liability of Guarantor hereunder. Guarantor waives any right to enforce any remedy which Agent now has or may hereafter have against Borrower and waives any benefit of and any right to participate in any security now or hereafter held by Agent.
Further, Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of Guarantor.

 7. Exhaustion of Other Remedies Not Required. The obligations of Guarantor hereunder are those of primary obligor, and not merely as surety, and
are independent of the Guaranteed Obligations. Guarantor waives diligence by Agent and action on delinquency in respect of the Guaranteed Obligations or any part thereof, including, without limitation any provisions of law requiring Agent to exhaust
any right or remedy or to take any action against Borrower, any other guarantor or any other person, entity or property before enforcing this Guaranty against Guarantor. 
 8. Reinstatement. Notwithstanding anything in this Guaranty to the contrary, this Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any portion of the
Guaranteed Obligations is revoked, terminated, rescinded or reduced or must otherwise be restored or returned upon the insolvency, bankruptcy or reorganization of Borrower or any other person or entity or otherwise, as if such payment had not been
made and whether or not Agent is in possession of or has released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. 
  

 31 

 9. Subordination. Guarantor hereby subordinates the payment of all obligations and indebtedness of Borrower owing
to Guarantor, whether now existing or hereafter arising, including but not limited to any obligation of Borrower to Guarantor as subrogee of Agent or resulting from Guarantor’s performance under this Guaranty, to the indefeasible payment in
full of all Guaranteed Obligations. If Agent so requests, any such obligation or indebtedness of Borrower to Guarantor shall be enforced and performance received by Guarantor as trustee for Agent and the proceeds thereof shall be paid over to Agent
on account of the Guaranteed Obligations, but without reducing or affecting in any manner the liability of Guarantor under this Guaranty. 
 10.
Information. Guarantor agrees to furnish promptly to Agent any and all financial or other information regarding Guarantor or its property as Agent may reasonably request in writing. 
 11. Stay of Acceleration. In the event that acceleration of the time for payment of any of the Guaranteed Obligations is stayed, upon the insolvency, bankruptcy or reorganization of Borrower or any other person
or entity, or otherwise, all such amounts shall nonetheless be payable by Guarantor immediately upon demand by Agent. 
 12. Expenses. Guarantor shall
pay on demand all out-of-pocket expenses (including reasonable attorneys’ fees and expenses and the allocated cost and disbursements of internal legal counsel) in any way relating to the enforcement or protection of Agent’s rights under
this Guaranty, including any incurred in the preservation, protection or enforcement of any rights of Agent in any case commenced by or against Guarantor under the Bankruptcy Code (Title 11, United States Code) or any similar or successor statute.
The obligations of Guarantor under the preceding sentence shall survive termination of this Guaranty. 
 13. Amendments. No provision of this Guaranty
may be waived, amended, supplemented or modified, except by a written instrument executed by Agent and Guarantor. 
 14. No Waiver. No failure by
Agent to exercise, and no delay in exercising, any right, remedy or power hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy or power hereunder preclude any other or further exercise thereof or
the exercise of any other right. The remedies herein provided are cumulative and not exclusive of any remedies provided by law or in equity. The unenforceability or invalidity of any provision of this Guaranty shall not affect the enforceability or
validity of any other provision herein. 
 15. Assignment; Governing Laws; Jurisdiction. This Guaranty shall (a) bind Guarantor and its
successors and assigns, provided that Guarantor may not assign its rights or obligations under this Guaranty without the prior written consent of Agent (and any attempted assignment without such consent shall be void), (b) inure to the
benefit of Agent and its successors and assigns and Agent may, without notice to Guarantor and without affecting Guarantor’s obligations hereunder, assign or sell participations in the Guaranteed Obligations and this Guaranty, in whole or in
part, and (c) be governed by the internal laws of the State of Oregon. Guarantor hereby irrevocably (i) submits to the non-exclusive jurisdiction of any United States Federal or State court sitting in Multnomah County, Oregon, in any
action or proceeding arising out of or relating to this Guaranty, and (ii) waives to the fullest extent permitted by law any defense asserting an inconvenient forum in connection therewith. Service of process by Agent in connection with such
action or proceeding shall be binding on Guarantor if sent to Guarantor by registered or certified mail at its address specified below. Guarantor agrees that 

  

 32 

 
Agent may disclose to any prospective purchaser and any purchaser of all or part of the Guaranteed Obligations any and all information in Agent’s
possession concerning Guarantor, this Guaranty and any security for this Guaranty. 
 16. Condition of Borrower. Guarantor acknowledges and agrees
that it has the sole responsibility for, and has adequate means of, obtaining from Borrower such information concerning the financial condition, business and operations of Borrower as Guarantor requires, and that Agent has no duty, and Guarantor is
not relying on Agent at any time, to disclose to Guarantor any information relating to the business, operations or financial condition of Borrower. 
 17.
Setoff. If and to the extent any payment is not made when due hereunder, Agent may setoff and charge from time to time any amount so due against any or all of Guarantor’s accounts or deposits with Agent. 
 18. Other Guarantees. Unless otherwise agreed by Agent and Guarantor in writing, this Guaranty is not intended to supersede or otherwise affect any other guaranty
now or hereafter given by Guarantor for the benefit of Agent or any term or provision thereof. 
 19. Representations and Warranties. Guarantor
represents and warrants that (i) it is duly organized and in good standing under the laws of the jurisdiction of its organization and has full capacity and right to make and perform this Guaranty, and all necessary authority has been obtained;
(ii) this Guaranty constitutes its legal, valid and binding obligation enforceable in accordance with its terms; (iii) the making and performance of this Guaranty does not and will not violate the provisions of any applicable law,
regulation or order, and does not and will not result in the breach of, or constitute a default or require any consent under, any material agreement, instrument, or document to which it is a party or by which it or any of its property may be bound
or affected; (iv) all consents, approvals, licenses and authorizations of, and filings and registrations with, any governmental authority required under applicable law and regulations for the making and performance of this Guaranty have been
obtained or made and are in full force and effect; (v) by virtue of its relationship with Borrower, the execution, delivery and performance of this Guaranty is for the direct benefit of Guarantor and it has received adequate consideration for
this Guaranty; and (vi) the financial information, that has been delivered to Agent by or on behalf of Guarantor, is complete and correct in all respects and accurately presents the financial condition and the operational results of Guarantor
and since the date of the most recent financial statements delivered to Agent, there has been no material adverse change in the financial condition or operational results of Guarantor. 
 20. WAIVER OF JURY TRIAL; FINAL AGREEMENT. TO THE EXTENT ALLOWED BY APPLICABLE LAW, GUARANTOR AND AGENT EACH WAIVE TRIAL BY JURY WITH RESPECT TO ANY ACTION, CLAIM, SUIT OR PROCEEDING ON OR ARISING OUT OF THIS
GUARANTY. THIS GUARANTY REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES. 
 21. Security. The Guaranteed Obligations shall be secured by a security interest in all assets of the Guarantor. Contemporaneous with the
execution of this Guaranty, Guarantor shall also execute and deliver a Security Agreement granting such a security interest to the Agent, for the benefit of the Secured Creditors, all as defined therein. Guarantor shall provide all such other
documentation reasonably required by Agent and the Lenders to document a first priority 

  

 33 

 
perfected security interest in the assets of Guarantor, including, but not limited to, filings in foreign jurisdictions and opinions of counsel. To the
extent such documentation is not available upon the date of execution of this Guaranty, Guarantor agrees to facilitate this process at its own expense, and shall cause such documentation to be provided to Agent and Lenders within the time period set
forth in the Loan Agreement. 
 Executed this 29th day of July, 2009. 
 GUARANTOR:
                                         
                                         
                                         
     , a ____________________ 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

	Address:	 	                                       
                                 
		 	                                       
                                 
		 	        Facsimile:
                                         
     

  

 34 

 EXHIBIT G 
 SECURITY AGREEMENT 
 This SECURITY AGREEMENT (this “Agreement”) is dated as of
July 29, 2009, by and between                                 , a company formed
under the laws of                                 (“Debtor”), and BANK
OF AMERICA, N.A., as Agent for the Lenders (in such capacity, “Agent”). Capitalized terms used and not defined herein shall have the meanings given to them in the Loan Agreement, as defined below. 
 Recitals: 
 A. This Security Agreement
is given to secure all of Debtor’s obligations of payment and performance then or thereafter arising under or in connection with the Guaranty dated of even date hereof (the “Guaranty”). 
 B. Bank of America, N.A. (“Bank of America”) in its individual capacity and other lenders party to the Loan Agreement dated as of
February 29, 2003, as amended from time to time (the “Loan Agreement”), are providing credit facilities to Cascade Corporation, the parent of Debtor, under the Loan Agreement. Bank of America in its individual capacity and the
other lenders party to the Loan Agreement are collectively referred to herein as the “Lenders” or the “Secured Creditors.” 
 C. As a condition precedent to the execution and delivery of the Sixth Amendment to Loan Agreement by the Lenders, the Lenders require Debtor to execute and deliver the Guaranty, and to secure Debtor’s
obligations to the Lenders and to the Agent under the Guaranty by granting the Agent a lien on and security interest in all of Debtor’s personal property except as provided in the last paragraph of Section 1 hereof. 
 NOW, THEREFORE, in consideration of the foregoing Recitals and for other good and valuable consideration, receipt of which is hereby acknowledged, and
intending to be bound hereby, Debtor agrees with Agent; for the benefit of Agent and the Secured Creditors, as follows: 
 8. GRANT OF
SECURITY INTEREST. For valuable consideration, Debtor hereby grants and transfers to Agent, for the benefit of Agent and the Secured Creditors, a security interest in all of the now held and hereafter acquired property of Debtor described as follows
(collectively, the “Collateral”): 
 (a) all accounts, deposit accounts, contract rights, chattel paper (whether electronic
or tangible), instruments, promissory notes, documents, general intangibles, payment intangibles, software, letter-of-credit rights, health-care insurance receivables and other rights to payment of every kind now existing or at any time hereafter
arising; 
 (b) all inventory, goods held for sale or lease or to be furnished under contracts for service, or goods so leased or furnished,
raw materials, component parts, work in process and other materials used or consumed in Debtor’s business, now or at any time hereafter 

  

 35 

 
owned or acquired by Debtor, wherever located, and all products thereof, whether in the possession of Debtor, any warehousemen, any bailee or any other
person, or in process of delivery, and whether located at Debtor’s places of business or elsewhere; 
 (c) all warehouse receipts, bills
of sale, bills of lading and other documents of every kind (whether or not negotiable) in which Debtor now has or at any time hereafter acquires any interest, and all additions and accessions thereto, whether in the possession or custody of Debtor,
any bailee or any other person for any purpose; 
 (d) all money and property heretofore, now or hereafter delivered to or deposited with
Agent or any Lender or otherwise coming into the possession, custody or control of Agent or any Lender (or any agent or bailee of Agent or any Lender) in any manner or for any purpose whatsoever during the existence of this Agreement and whether
held in a general or special account or deposit for safekeeping or otherwise; 
 (e) all investment property of Debtor; 
 (f) all right, title and interest of Debtor under licenses, guaranties, warranties, management agreements, marketing or sales agreements, escrow
contracts, indemnity agreements, insurance policies, service or maintenance agreements, supporting obligations and other similar contracts of every kind in which Debtor now has or at any time hereafter shall have an interest except those directly
related to property excluded from Collateral and described below; 
 (g) all goods, tools, machinery, furnishings, furniture and other
equipment of every kind now existing or hereafter acquired, and improvements, replacements, accessions and additions thereto and embedded software included therein (collectively, the “Equipment”), whether located on any property
owned or leased by Debtor or elsewhere, including without limitation, any of the foregoing now or at any time hereafter located at or installed on the land or in the improvements at any of the real property owned or leased by Debtor, and all such
goods after they have been severed and removed from any of said real property; 
 (h) all motor vehicles, trailers, mobile homes,
manufactured homes, boats, other rolling stock and related equipment of every kind now existing or hereafter acquired and all additions and accessories thereto, whether located on any property owned or leased by Debtor or elsewhere; 
 (i) to supplement the foregoing list of Collateral, which did not specify that the terms used would be defined or set forth in the Oregon Uniform
Commercial Code, the Debtor also grants and transfers to Agent for the benefit of Agent and the Secured Creditors, a security interest in all of the now held and hereafter acquired property of Debtor listed below, it being agreed that such list is
added to expand the meaning of “Collateral” by adding the following types of property defined as set forth in the Oregon Uniform Commercial Code, and that any property described below which is not included in (a) through
(h) above is hereby added to Collateral. The types of property listed below shall have the meaning given to them in the Oregon Uniform Commercial Code. The list referred to in this subsection is: 
 (i) all accounts 
  

 36 

 (ii) all chattel paper 
 (iii) all deposit accounts 
 (iv) all documents 
 (v) all equipment 
 (vi) all general
intangibles 
 (vii) all instruments 
 (viii) all inventory 
 (ix) all investment property 
 (x) all letter of credit rights; 
 together with

 (j) whatever is receivable or received when any of the foregoing or the proceeds thereof are sold, leased, collected, exchanged or
otherwise disposed of, whether such disposition is voluntary or involuntary, including without limitation, all rights to payment, including returned premiums, with respect to any insurance relating to any of the foregoing, and all rights to payment
with respect to any claim or cause of action affecting or relating to any of the foregoing (collectively, “Proceeds”). 
 Notwithstanding
anything to the contrary in this Agreement, the Collateral shall not include any of the following property of Debtor: (i) any property covered by UCC financing statements, or comparable central filing system documents, listed on Exhibit
A attached hereto if the terms of the security agreements or leases applicable to such property (including refinancings, renewals and replacements of such security agreements or leases) prohibit the security interest of the Agent in such
property; or (ii) any proceeds of the property described in clause (i) of this paragraph. 
 9. OBLIGATIONS SECURED. The
obligations secured hereby (the “Obligations”) consist of all obligations of any nature whatsoever of Debtor to Agent and Lenders under the Guaranty. 
 10. TERMINATION. This Agreement will terminate, the Agent’s security interests in the Collateral described in this Security Agreement will terminate, and UCC termination statements will be filed when the
Obligations have been fully satisfied, and all commitments under the Guaranty have been terminated. 
 11. This Section is intentionally left
blank. 
  

 37 

 12. REPRESENTATIONS AND WARRANTIES. Debtor represents and warrants to Agent, for the benefit of the
Secured Creditors, that: (a) Debtor’s legal name is exactly as set forth on the first page of this Agreement, and all of Debtor’s organizational documents or agreements delivered to Agent are complete and accurate in every respect;
(b) Debtor is the owner and has possession or control of the Collateral and Proceeds; (c) Debtor has the exclusive right to grant a security interest in the Collateral and Proceeds; (d) except for the liens and security interests
created hereby, or otherwise agreed to in writing by the Agent, Collateral and Proceeds are: (i) genuine and free from valid liens or encumbrances and (ii) with respect to accounts, to the best of Debtor’s knowledge, except as
disclosed in writing to the Secured Creditors, such accounts are free of valid adverse claims, set-offs, default, prepayment, defenses or other conditions precedent except those that occur in the ordinary course of Debtor’s business as
Debtor’s business is currently conducted; (e) all statements contained herein and, where applicable, in other Loan Documents as to the Collateral are true and complete in all material respects; (f) except as expressly permitted by the
Agent, there is no valid financing statement, or a comparable registration statement under the law of the appropriate jurisdiction, covering any of the Collateral or Proceeds, and naming any Secured Creditor other than Agent, on file in any public
office; (g) where Collateral consists of rights to payment, to the best of Debtor’s knowledge, all persons appearing to be obligated on the Collateral and Proceeds have authority and capacity to contract and are bound as they appear to be,
all property subject to chattel paper (if any) has been properly registered and filed in compliance with law and to perfect the interest of Debtor in such property, and all such Collateral and Proceeds comply with all applicable laws concerning
form, content and manner of preparation and execution, including where applicable Federal Reserve Regulation Z and any applicable consumer credit laws; and (h) where the Collateral consists of Equipment, Debtor is not in the business of
selling goods of the kind included within such Collateral, and Debtor acknowledges that no sale or other disposition of any such Collateral, including without limitation, any Equipment that Debtor may deem to be surplus, has been consented to or
acquiesced in by Agent or Lenders, unless consent or acquiescence is specifically set forth in the Loan Documents. 
 13. COVENANTS OF
DEBTOR. 
 (a) Debtor agrees: (i) to pay the Obligations secured hereby when due; (ii) to indemnify and hold harmless Agent and each
Secured Creditor against all losses, claims, demands, liabilities and expenses of every kind caused by property subject hereto; (iii) to pay all costs and expenses, including reasonable attorneys’ fees (whether incurred before trial, at
trial, or in any bankruptcy or arbitration proceeding), incurred by Agent in the perfection and preservation of the Collateral or Agent’s interest therein and/or the realization, enforcement and exercise of Agent’s rights, powers and
remedies hereunder; (iv) to permit Agent to exercise its powers hereunder; (v) to execute and deliver such documents as Agent deems necessary to create, perfect and continue the security interests contemplated hereby; (vi) not to
change its name, and as applicable, its chief executive office, its principal residence or the jurisdiction in which it is organized and/or registered without giving Agent and each Secured Creditor prior written notice thereof; (vii) not to
change the places where Debtor keeps any Collateral or Debtor’s records concerning the Collateral and Proceeds without giving Agent and each Secured Creditor prior written notice of the address to which Debtor is moving same; and (viii) to
cooperate with Agent in perfecting all security interests granted herein and in obtaining such agreements from third parties as Agent deems necessary, proper or convenient in connection with the preservation, perfection or enforcement of any of its
rights hereunder. 
  

 38 

 (b) Debtor agrees with regard to the Collateral and Proceeds (but not with respect to any property other
than Collateral and Proceeds), unless Lenders agree otherwise in writing: (i) that Agent is authorized to file financing statements in the name of Debtor to perfect Agent’s security interest in Collateral and Proceeds; (ii) where
applicable, to insure the Collateral with Agent named as loss payee, in form, substance and amounts, under agreements, against risks and liabilities, and with insurance companies, in each case as required by the Loan Documents or in a manner
otherwise satisfactory to Agent; (iii) where applicable, to operate the Collateral in accordance with all applicable statutes, rules and regulations relating to the use and control thereof, and not to use any Collateral for any unlawful purpose
or in any way that would void any insurance required to be carried in connection therewith; (iv) not to remove the Collateral from Debtor’s premises, except (A) for deliveries to buyers in the ordinary course of Debtor’s business
and (B) Collateral which consists of mobile goods as defined in the Oregon Uniform Commercial Code, in which case Debtor agrees not to remove or permit the removal of such Collateral from its state of domicile for a period in excess of thirty
(30) calendar days; (v) to pay when due all license fees; registration fees and other charges in connection with any Collateral; (vi) except to the extent expressly permitted in writing by Agent, not to permit any lien on the
Collateral or Proceeds, including without limitation, liens arising from repairs to or storage of the Collateral, except in favor of Agent; (vii) not to sell, hypothecate or dispose of, nor permit the transfer by operation of law of, any of the
Collateral or Proceeds or any interest therein, except sales of (I) inventory to buyers in the ordinary course of Debtor’s business and (II) Collateral (in addition to inventory) in amounts permitted by Agent; (viii) to permit
Agent to inspect the Collateral at any time; (ix) to keep, in accordance with generally accepted accounting principles, complete and accurate records regarding all Collateral and Proceeds, and to permit Agent or its representatives to inspect
the same and make copies thereof at any reasonable time; (x) if requested by Agent, to receive and use reasonable diligence to collect Collateral consisting of accounts and other rights to payment and Proceeds, after an Event of Default, in
trust and as the property of Agent for the benefit of the Secured Creditors, and to immediately endorse as appropriate and deliver such Collateral and Proceeds to Agent daily in the exact form in which they are received together with a collection
report in form satisfactory to Agent; (xi) not to commingle Collateral or Proceeds, or collections thereunder, with other property except for Proceeds deposited in Debtor’s account(s) maintained at Agent. As used herein the prohibition on
commingling of Collateral refers to combining or intermixing Equipment or inventory in which Agent is granted a security interest pursuant to this Agreement with other property in which Agent has no security interest if the effect of such combining
or intermixing is that the property in which Agent is not granted a security interest hereunder cannot be differentiated and separated from the Collateral in which Agent is granted a security interest pursuant to this Agreement; (xii) to give
only allowances and credits on accounts in the ordinary course of Debtor’s business and to advise Agent and each Secured Creditor of the same immediately in writing if they affect any rights to payment or Proceeds in any material respect;
(xiii) from time to time, when requested by Agent, to prepare and deliver a schedule of all Collateral and Proceeds subject to this Agreement, and to assign in writing and deliver to Agent all accounts, contracts, leases and other chattel
paper, instruments, documents and other evidences thereof, (xiv) in the event Agent elects to receive payments or rights to payment or Proceeds hereunder to 

  

 39 

 
pay all reasonable expenses incurred by Agent in connection therewith; including reasonable expenses of accounting, correspondence, collection efforts,
reporting to account or contract debtors, filing, recording, record keeping and expenses incidental thereto; and (xv) to provide any service and do any other acts which may be necessary to maintain, preserve and protect all Collateral and, as
appropriate and applicable, to keep all Collateral in good and saleable condition, to deal with the Collateral in accordance with the standards and practices adhered to generally by users and manufacturers of like property, and to keep all
Collateral and Proceeds free and clear of all defenses, rights of offset and counterclaims. 
 14. POWERS OF AGENT. Debtor appoints Agent its
true attorney in fact to perform any of the following powers, which are coupled with an interest, are irrevocable until termination of this Agreement and may be exercised from time to time by Agent’s officers and employees, or any of them:
(a) to perform any obligation of Debtor hereunder in Debtor’s name or otherwise; (b) to give notice to account debtors or others of Agent’s rights in the Collateral and Proceeds, to enforce or forebear from enforcing the same and
make extension and modification agreements with respect thereto; (c) to release persons liable on Collateral or Proceeds and to give receipts and acquittances and compromise disputes in connection therewith; (d) to release or substitute
security; (e) to resort to security in any order; (f) to prepare, execute, file, record or deliver notes, assignments, schedules, designation statements, financing statements, continuation statements, termination statements, statements of
assignment, applications for registration or like papers to perfect, preserve or release Agent’s interest in the Collateral and Proceeds; (g) to receive, open and read mail addressed to Debtor; (h) to take cash; instruments for the
payment of money and other property to which Agent is entitled; (i) to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its own name or a fictitious name; (j) to endorse, collect, deliver
and receive payment under instruments for the payment of money constituting or relating to Proceeds; (k) to prepare, adjust, execute, deliver and receive payment under insurance claims, and to collect and receive payment of and endorse any
instrument in payment of loss or returned premiums or any other insurance refund or return, and to apply such amounts received by Agent or any Secured Creditor toward repayment of the Obligations in the manner specified by the Loan Agreement or,
where appropriate and if approved by Majority Lenders, replacement of the Collateral; (l) to exercise all rights, powers and remedies which Debtor would have, but for this Agreement, with respect to all Collateral and Proceeds subject hereto;
(m) to enter onto Debtor’s premises in inspecting the Collateral; (n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution, wherever located, into which Proceeds may have been
deposited, and to apply funds so withdrawn to payment of the Obligations; (o) to preserve or release the interest evidenced by chattel paper to which Agent is entitled hereunder and to endorse and deliver any evidence of title incidental
thereto; and (p) to do all acts and things and execute all documents in the name of Debtor or otherwise, deemed by Agent as necessary, proper and convenient in connection with the preservation, perfection or enforcement of its rights hereunder.
Agent shall exercise its rights as attorney in fact under this Agreement only upon the occurrence and continuation of an Event of Default (as that term is defined in the Loan Agreement). 
 15. PAYMENT OF PREMIUMS, TAXES, CHARGES, LIENS AND ASSESSMENTS. Debtor agrees to pay, when due, all insurance premiums, taxes, charges, liens and
assessments (collectively, the “Assessments”) against the Collateral and Proceeds, and upon 

  

 40 

 
the failure of Debtor to do so, Agent or any Secured Creditor at its option may pay any of them and shall be the sole judge of the legality or validity
thereof and the amount necessary to discharge the same. Any such payments made by Agent or any Secured Creditor shall be obligations of Debtor to Agent or such Secured Creditor, due and payable immediately upon demand, together with interest at a
rate determined in accordance with the provisions of Section 15 of this Agreement, and shall be secured by the Collateral and Proceeds, subject to all terms and conditions of this Agreement. Notwithstanding the foregoing, any Assessments that
are payable in installments may be paid in installments as long as each installment is paid by its due date. Further, Debtor may withhold payment and diligently contest, in good faith and by appropriate proceedings, the amount or validity of any
Assessments as long as Debtor provides Agent and each Secured Creditor with prior written notice of the contest in cases where the amount in controversy exceeds $1,000,000 and if Agent or any Secured Creditor so requests, provides a bond or other
security acceptable to Agent and Lenders. 
 OREGON STATUTORY WARNING 
 WARNING: UNLESS YOU PROVIDE US WITH EVIDENCE OF THE INSURANCE COVERAGE AS REQUIRED BY OUR CONTRACT OR LOAN AGREEMENT, WE MAY PURCHASE INSURANCE AT YOUR EXPENSE TO PROTECT OUR INTEREST. THIS INSURANCE MAY, BUT NEED NOT, ALSO PROTECT YOUR
INTEREST. IF THE COLLATERAL BECOMES DAMAGED, THE COVERAGE WE PURCHASE MAY NOT PAY ANY CLAIM YOU MAKE OR ANY CLAIM MADE AGAINST YOU. YOU MAY LATER CANCEL THIS COVERAGE BY PROVIDING EVIDENCE THAT YOU HAVE OBTAINED PROPERTY COVERAGE ELSEWHERE.

 YOU ARE RESPONSIBLE FOR THE COST OF ANY INSURANCE PURCHASED BY US. THE COST OF THIS INSURANCE MAY BE ADDED TO YOUR CONTRACT OR LOAN BALANCE. IF THE COST
IS ADDED TO YOUR CONTRACT OR LOAN BALANCE, THE INTEREST RATE ON THE UNDERLYING CONTRACT OR LOAN WILL APPLY TO THIS ADDED AMOUNT. THE EFFECTIVE DATE OF COVERAGE MAY BE THE DATE YOUR PRIOR COVERAGE LAPSED OR THE DATE YOU FAILED TO PROVIDE PROOF OF
COVERAGE. 
 THE COVERAGE WE PURCHASE MAY BE CONSIDERABLY MORE EXPENSIVE THAN INSURANCE YOU CAN OBTAIN ON YOUR OWN AND MAY NOT SATISFY ANY NEED FOR PROPERTY
DAMAGE COVERAGE OR ANY MANDATORY LIABILITY INSURANCE REQUIREMENTS IMPOSED BY APPLICABLE LAW. (Each reference to “you” and “your” shall refer to Debtor and each reference to “us” and “we” shall refer to Agent.)

 16. EVENTS OF DEFAULT. Any Event of Default, as defined in the Loan Agreement, is an Event of Default under this Agreement. 
 17. REMEDIES. Upon an Event of Default, Agent shall have all other rights, powers, privileges and remedies granted to a Secured Creditor upon default
under the Oregon Uniform Commercial Code or otherwise provided by law, including without limitation, the right (a) to contact all persons obligated to Debtor on any Collateral or Proceeds and to instruct such persons to deliver all Collateral
and/or Proceeds directly to Agent, and (b) to sell, lease, license 

  

 41 

 
or otherwise dispose of any or all Collateral. All rights, powers, privileges and remedies of Agent shall be cumulative. No delay, failure or discontinuance
of Agent or any Lender in exercising any right, power, privilege or remedy hereunder or under the Loan Documents shall affect or operate as a waiver of such right, power, privilege or remedy; nor shall any single or partial exercise of any such
right, power, privilege or remedy preclude, waive or otherwise affect any other or further exercise thereof or the exercise of any other right, power, privilege or remedy. Any waiver, permit, consent or approval of any kind by Agent or any Secured
Creditor of any default hereunder or under the Loan Documents, or any such waiver of any provisions or conditions hereof, must be in writing and shall be effective only to the extent set forth in writing. While an Event of Default exists:
(a) Debtor will deliver to Agent from time to time, as requested by Agent, current lists of all Collateral and Proceeds; (b) Debtor will not dispose of any Collateral or Proceeds except on terms approved by Majority Lenders; (c) at
Agent’s request, Debtor will assemble and deliver all Collateral and Proceeds, and books and records pertaining thereto, to Agent at a reasonably convenient place designated by Agent; and (d) Agent may, without notice to Debtor, enter onto
Debtor’s premises and take possession of the Collateral. With respect to any sale or other disposition by Agent of any Collateral subject to this Agreement, Debtor hereby expressly grants to Agent the right to sell such Collateral using any or
all of Debtor’s trademarks, trade names, trade name rights and/or proprietary labels or marks. Debtor further agrees that Agent shall have no obligation to process or prepare any Collateral for sale or other disposition. 
 18. DISPOSITION OF COLLATERAL AND PROCEEDS; TRANSFER OF INDEBTEDNESS. In disposing of Collateral hereunder, Agent may disclaim all warranties of title,
possession, quiet enjoyment and the like. Any proceeds of any disposition of any Collateral or Proceeds, or any part thereof, may be applied by Agent to the payment of expenses and fees incurred by or owed to Agent, reasonable attorneys’ fees,
and the balance of such proceeds may be distributed by Agent toward the payment of the Obligations in such order of application as may be required by the Loan Documents. Upon the appointment of a new Agent, Agent shall transfer all of the Collateral
or Proceeds and shall be fully discharged from all liability and responsibility with respect to the Collateral so transferred and all acts of the successor Agent upon and after acceptance of its appointment, and the transferee shall be vested with
all rights and powers of Agent hereunder with respect to any of the foregoing so transferred. 
 19. STATUTE OF LIMITATIONS. Until all
Obligations shall have been paid in full and all commitments by the Secured Creditors to extend credit to Debtor pursuant to the Loan Documents have been terminated, the power of sale or other disposition and all other rights, powers, privileges and
remedies granted to Agent hereunder shall continue to exist and may be exercised by Agent at any time and from time to time irrespective of the fact that the Obligations or any part thereof may have become barred by any statute of limitations, or
that the personal liability of Debtor may have ceased, unless such liability shall have ceased due to the payment in full of all Obligations secured hereunder. 
 20. MISCELLANEOUS WAIVERS. Debtor hereby waives any right to require Agent or any Secured Creditor to (i) proceed against Debtor or any other person, (ii) proceed against or exhaust any security from Debtor
or any other person, (iii) perform any obligation of Debtor with respect to any Collateral or Proceeds, and (d) except as specifically required under 

  

 42 

 
other provisions of this Agreement, make any presentment or demand, or give any notice of nonpayment or nonperformance, protest, notice of protest or notice
of dishonor hereunder or in connection with any Collateral or Proceeds. Debtor further waives any right to direct the application of payments or security for any Obligations of Debtor or indebtedness of customers of Debtor. 
 21. NOTICES. All notices, requests and demands required under this Agreement must be in writing, addressed to Agent at the address specified in the Loan
Agreement, to Debtor at the address designated in the Loan Agreement, or to such other address as any party may designate by written notice to each other party, and shall be deemed to have been given or made as follows: (a) if personally
delivered, upon delivery; (b) if sent by mail, upon the earlier of the date of receipt or three (3) days after deposit in the U.S. mail, first class and postage prepaid; and (c) if sent by telecopy, upon receipt. 
 22. COSTS, EXPENSES AND ATTORNEYS’ FEES. Debtor shall pay to Agent immediately upon demand the full amount of all payments, advances, charges, costs
and expenses, including reasonable attorneys’ fees (to include outside counsel fees and all allocated costs of Agent’s in-house counsel), expended or incurred by Agent in exercising any right, power, privilege or remedy conferred by this
Agreement or in the enforcement thereof, whether incurred at the trial or appellate level, in an arbitration proceeding or otherwise, and including any of the foregoing incurred in connection with any bankruptcy proceeding (including without
limitation, any adversary proceeding, contested matter or motion brought by Agent or any other person) relating to Debtor or in any way affecting any of the Collateral, the Proceeds or Agent’s ability to exercise any of its rights or remedies
with respect thereto. All of the foregoing shall be paid by Debtor with interest from the date of demand until paid in full at a rate per annum equal to (i) for so long as Bank of America is the Agent, the Default Rate specified in the Loan
Agreement, or (ii) if Bank of America is not the Agent, at the rate per annum equal to 12%. Notwithstanding anything apparently to the contrary in this Section 15, if Agent demands payment of any of the costs, expenses and attorney fees
described in this Section 15 in the absence of an Event of Default, then Debtor shall have 30 days from the date of such demand to make such payment and if no Event of Default has occurred during that 30 day period, Debtor may make such payment
within that 30 day period without having to pay interest on such payment. 
 23. SUCCESSORS; ASSIGNS; AMENDMENT. This Agreement shall be
binding upon and inure to the benefit of the heirs, executors, administrators, legal representatives, successors and assigns of the parties, and may be amended or modified only in writing signed by Agent and Debtor. 
 24. DEFINITIONS. Capitalized terms that are not defined in this Agreement and are defined in the Loan Agreement shall have the meaning given those terms
in the Loan Agreement. All references herein to “include,” “includes” or “including” means include, includes or including without limitation. 
 25. SEVERABILITY OF PROVISIONS. If any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision
shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or any remaining provisions of this Agreement. 
  

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 26. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the
state of Oregon. 
 27. DEBTOR WARRANTIES. Debtor warrants that Debtor is an organization organized under the laws of
                                . 
 Debtor warrants that its chief executive office is located at the following address:
                                . Debtor warrants that the Equipment and inventory
(except goods in transit) is located or domiciled at the additional addresses described on Schedule 1 attached hereto and by this reference made a part hereof. 
 28. OREGON STATUTORY NOTICE. UNDER OREGON LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS MADE BY ANY LENDER CONCERNING LOANS AND OTHER CREDIT
EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES OR SECURED SOLELY BY DEBTOR’S RESIDENCE MUST BE IN WRITING, EXPRESS CONSIDERATION AND BE SIGNED BY SUCH LENDER TO BE ENFORCEABLE. 
 IN WITNESS WHEREOF, this Agreement has been duly executed as of the first date written above. 
  

			
	                                       
                                     , a
	 company formed under the laws of

	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Accepted and agreed as of the first date written above. 
  

			
	BANK OF AMERICA, N.A., as Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 44 

 EXHIBIT A 
 TO SECURITY AGREEMENT 
 Excluded Assets 
 The following is a list of UCC or other Filings referred to in Section 1 of the Security Agreement. 
 Active UCC or other Filings (as of                     ): 
  

					
	 Date
	    	 File #
	  	 Description

  
  

 1 

 Schedule 1 
 Additional Addresses for Equipment and Inventory 
 DEBTOR LOCATIONS

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