Document:

EX-4.2

 Exhibit 4.2 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”), dated March 24, 2015, is made between ONCOR ELECTRIC DELIVERY
COMPANY LLC (the “Company”) and Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and RBS Securities Inc., as representatives of the Initial Purchasers (collectively, the
“Representatives,” and each a “Representative”). 
 This Agreement is made pursuant to the Purchase
Agreement dated March 19, 2015 (the “Purchase Agreement”), between the Company, as issuer, and the Representatives, as representatives of the Initial Purchasers, which provides for, among other things, the several sales by the
Company to the Initial Purchasers of $350,000,000 principal amount of the Company’s 2.950% Senior Secured Notes due 2025 (the “2025 Notes”) and $375,000,000 principal amount of the Company’s 3.750% Senior Secured Notes due
2045 (the “2045 Notes” and collectively, with the 2025 Notes, the “Notes”). In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to provide to the Initial Purchasers
and the Initial Purchasers’ direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

 

	 	1.	Definitions. 

 As used in this Agreement, the following capitalized defined terms shall
have the following meanings: 
 “2025 Notes” shall mean have the meaning set forth in the preamble of this Agreement. 

“2045 Notes” shall mean have the meaning set forth in the preamble of this Agreement. 

“Additional Interest” shall mean any interest payable pursuant to Section 2(e) hereof. 

“Additional Interest Rate” shall have the meaning set forth in Section 2(e) hereof. 

“Advice” shall have the meaning set forth in the last paragraph of Section 3 hereof. 

“Agreement” shall mean have the meaning set forth in the preamble hereof. 

“Applicable Period” shall have the meaning set forth in Section 3(t) hereof. 

“Business Day” shall mean a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New
York are authorized or obligated by law or executive order to remain closed or (iii) a day on which the Trustee’s principal corporate trust office is closed for business. 

“Company” shall have the meaning set forth in the preamble to this Agreement. 

  
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 “Depositary” shall mean The Depository Trust Company, or any other depositary
appointed by the Company; provided, however, that such depositary must have an address in the Borough of Manhattan, in The City of New York. 

“Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

“Eligible Holder” shall have the meaning set forth in Section 2(a) hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

“Exchange Notes” shall mean the 2.950% Senior Secured Notes due 2025 containing terms identical to the 2025 Notes and the
3.750% Senior Secured Notes due 2045 identical to the 2045 Notes (except that the Exchange Notes will not contain registration rights or terms with respect to transfer restrictions under the Securities Act and will not provide for any Additional
Interest to be payable with respect thereto). 
 “Exchange Offer” shall mean the offer by the Company to the Holders to
exchange the Registrable Securities for a like principal amount of Exchange Notes pursuant to Section 2(a) hereof. 
 “Exchange
Offer Registration” shall mean a registration under the Securities Act effected pursuant to Section 2(a) hereof. 

“Exchange Offer Registration Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable,
on another appropriate form), and all amendments and supplements to such registration statement, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“Exchange Period” shall have the meaning set forth in Section 2(a) hereof. 

“FINRA” shall mean Financial Industry Regulatory Authority, Inc. 

“Holders” shall mean the Initial Purchasers, for so long as they own beneficial interests in any Registrable Securities, and
each of their respective successors, assigns and direct and indirect transferees who become registered owners of Registrable Securities under the Indenture. 

“Indemnified Party” shall have the meaning set forth in Section 4(a) hereof. 

“Indenture” shall mean the Indenture (For Unsecured Debt Securities) relating to the Notes and the Exchange Notes dated as of
August 1, 2002 between the Company, as issuer, and The Bank of New York Mellon, as Trustee, as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the Purchase Agreement. 

“Inspectors” shall have the meaning set forth in Section 3(n) hereof. 

  
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 “Issue Date” shall mean the date of original issuance of the Notes. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of applicable outstanding Notes.

 “Notes” shall have the meaning set forth in the preamble of this Agreement. 

“Notice” shall have the meaning set forth in Section 2(a) hereof. 

“Participating Broker-Dealer” shall have the meaning set forth in Section 3(t) hereof. 

“Person” shall mean an individual, partnership, corporation, trust or unincorporated organization, limited liability company,
or a government or agency or political subdivision thereof. 
 “Prospectus” shall mean the prospectus included in a
Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to a prospectus, including post-effective amendments, and in each case including all material incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble of this Agreement. 

“Records” shall have the meaning set forth in Section 3(n) hereof. 

“Registrable Securities” shall mean the Notes; provided, however, that the Notes shall cease to be Registrable Securities
when (i) a Registration Statement with respect to the Notes shall have been declared effective under the Securities Act and the Notes shall have been disposed of pursuant to such Registration Statement, (ii) the Notes shall have been sold
to the public pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A) under the Securities Act, (iii) the Notes shall have ceased to be outstanding, (iv) the Notes offered for exchange shall have been exchanged for
Exchange Notes upon consummation of the Exchange Offer and are thereafter freely tradable by the holder thereof (other than an affiliate of the Company) or (v) two years have elapsed since the date of original issuances of the Notes. 

“Registration Default” shall have the meaning set forth in Section 2(e) hereof. 

“Registration Expenses” shall mean any and all expenses incident to the performance of or the compliance by the Company with
this Agreement, including, without limitation: (i) all SEC or FINRA registration and filing fees; (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and
disbursements of counsel for any underwriters or Holders in connection with blue sky qualification of any of the Exchange Notes or Registrable Securities) and compliance with the rules of FINRA, (iii) all expenses of any Persons in preparing or
assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, and in preparing or assisting in preparing, printing and distributing any Registration

  
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Statement, any Prospectus and any amendments or supplements thereto, and in preparing or assisting in preparing, printing and distributing any underwriting agreements, securities sales agreements
and other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) the fees and disbursements of counsel for the Company, of one counsel for the Holders collectively hereunder in
connection with the Exchange Offer, and of the independent certified public accountants of the Company, including the expenses of any “cold comfort” letters required by or incident to such performance and compliance, (vi) the fees and
expenses of the Trustee, and any paying agent, exchange agent or custodian, (vii) all fees and expenses incurred in connection with the listing, if any, of any of the Registrable Securities or the Exchange Notes on any securities exchange or
exchanges and (viii) the reasonable fees and expenses of any special experts retained by the Company in connection with any Registration Statement. 

“Registration Statement” shall mean any registration statement of the Company that covers any of the Exchange Notes or
Registrable Securities pursuant to the provisions of this Agreement, and all amendments and supplements to any such Registration Statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits
thereto and all material incorporated by reference therein. 
 “Representative” shall have the meaning set forth in the
preamble of this Agreement. 
 “SEC” shall mean the Securities and Exchange Commission. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the
provisions of Section 2(b) hereof which covers all of the Registrable Securities (except Registrable Securities that the Holders thereof have elected not to include in such registration statement), on an appropriate form under Rule 415 under
the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits
thereto and all material incorporated by reference therein. 
 “TIA” shall mean the Trust Indenture Act of 1939, as amended
from time to time. 
 “Trustee” shall mean The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New
York Mellon, formerly the Bank of New York). 
  

	 	2.	Registration Under the Securities Act. 

 (a) Exchange Offer. 

To the extent not prohibited by any applicable law or applicable interpretation of the staff of the SEC, the Company shall, for the benefit of
the Holders, at the Company’s cost, (i) cause to be filed with the SEC an Exchange Offer Registration Statement on an appropriate form 

  
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under the Securities Act covering the Exchange Offer, (ii) use all commercially reasonable efforts to cause such Exchange Offer Registration Statement to be declared effective under the
Securities Act by the SEC not later than the date which is 270 days after the Issue Date and (iii) promptly offer the Exchange Notes in exchange for surrender of the Notes upon the effectiveness of the Exchange Offer Registration Statement, and
consummate the Exchange Offer within 315 days after the Issue Date. Upon the effectiveness of the Exchange Offer Registration Statement, the Company shall promptly commence the Exchange Offer, unless the Exchange Offer would not be permitted by
applicable law or applicable interpretation of the staff of the SEC, it being understood that the objective of such Exchange Offer is to enable each Holder electing to exchange Registrable Securities for a like principal amount of Exchange Notes (of
the respective series) (assuming that such Holder is not an affiliate of the Company within the meaning of Rule 405 under the Securities Act and is not a broker-dealer tendering Registrable Securities acquired directly from the Company for its own
account, acquires the Exchange Notes in the ordinary course of such Holder’s business and has no arrangements or understandings with any Person to participate in the Exchange Offer for the purpose of distributing the Exchange Notes) (any Holder
meeting all such requirements, hereinafter an “Eligible Holder”), and to transfer such Exchange Notes from and after their receipt without any limitations or restrictions under the Securities Act and under state securities or blue
sky laws. 
 In connection with the Exchange Offer, the Company shall: 

(i) furnish to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an
appropriate letter of transmittal and related documents (together, the “Notice”); 
 (ii) use all
commercially reasonable efforts to keep the Exchange Offer open for acceptance for a period of not less than 20 Business Days after the date Notice thereof is furnished to the Holders (or longer if required by applicable law) (such period referred
to herein as the “Exchange Period”); 
 (iii) utilize the services of the Depositary for the Exchange Offer;

 (iv) permit Holders to withdraw, at any time prior to the close of business, New York time, on the last Business Day of
the Exchange Period, any Notes tendered for exchange by sending to the institution specified in the Notice, a telegram, telex, facsimile transmission or letter, received before aforesaid time, setting forth the name of such Holder, the principal
amount of Notes delivered for exchange, and a statement that such Holder is withdrawing his election to have such Notes exchanged; 

(v) notify each Holder by means of the Notice that any Note not tendered by such Holder in the Exchange Offer will remain
outstanding and continue to accrue interest, but will not retain any rights under this Agreement (except in the case of the Initial Purchasers and Participating Broker-Dealers as provided herein); and 

(vi) otherwise comply in all respects with all applicable laws relating to the Exchange Offer. 

As soon as practicable after the close of the Exchange Offer, the Company shall: 

  
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 (i) accept for exchange all Notes or portions thereof tendered and not validly
withdrawn pursuant to the Exchange Offer; 
 (ii) deliver, or cause to be delivered, to the Trustee for cancellation all
Notes or portions thereof so accepted for exchange by the Company; and 
 (iii) issue, and cause the Trustee to promptly
authenticate and deliver to the Depositary (or if, the Exchange Notes are in certificated form, each Holder), Exchange Notes of the series and equal in principal amount to the respective series and principal amount of the Notes surrendered by such
Holder. 
 Interest on each Exchange Note issued pursuant to the Exchange Offer will accrue from the last date on which interest was paid on
the Note surrendered in exchange therefor or, if no interest has been paid on such Note, from the Issue Date. To the extent not prohibited by any law or applicable interpretation of the staff of the SEC, the Company shall use all commercially
reasonable efforts to complete the Exchange Offer as provided above. Except as set forth herein, the Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate applicable law or any applicable
interpretation of the staff of the SEC and that each Holder tendering Notes for exchange shall be an Eligible Holder. Each Holder of Registrable Securities who wishes to exchange such Registrable Securities for Exchange Notes in the Exchange Offer
will be required to make certain customary representations in connection therewith, including, without limitation, representations that (i) it is not an affiliate of the Company, (ii) the Exchange Notes to be received by it were acquired
in the ordinary course of its business and (iii) at the time of the Exchange Offer, it has no arrangement with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes. Each Holder hereby
acknowledges and agrees that any Participating Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the Exchange Notes: (1) could not under SEC policy as in effect on the date of this Agreement rely on
the position of the SEC enunciated in Brown & Wood LLP (available February 7, 1997), Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the
SEC’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters (including, without limitation, any no-action letter obtained based on the representations in clause (i) above), and (2) must comply
with the registration and prospectus delivery requirements of the Securities Act in connection with the secondary resale transaction and that such a secondary resale transaction should be covered by an effective registration statement containing the
selling security holder information required by Item 507 and 508, as applicable, of Regulation S-K, the SEC standard instructions for filing forms under the Securities Act, if the resales are of Exchange Notes obtained by such Holder in
exchange for Notes acquired by such Holder directly from the Company. 
 Upon consummation of the Exchange Offer in accordance with this
Section 2(a), the provisions of this Agreement shall continue to apply, mutatis mutandis, solely with respect to Registrable Securities that are Exchange Notes held by Participating Broker-Dealers, and the Company shall have no further
obligation to register the Registrable Securities (other than pursuant to Section 2(b)(iii)) pursuant to Section 2(b) of this Agreement. 

  
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 (b) Shelf Registration. 

In the event that (i) the Company is not permitted to effect the Exchange Offer because of any change in law or in applicable
interpretations of the staff of the SEC, (ii) for any other reason the Exchange Offer is not consummated on or prior to 315 days after the Issue Date, (iii) any Initial Purchaser so requests with respect to Notes not eligible to be
exchanged for Exchange Notes in the Exchange Offer, (iv) any Holder (other than a Participating Broker-Dealer) is not permitted by applicable law or interpretations of the staff of the SEC to participate in the Exchange Offer or, in the case of
any Holder (other than a Participating Broker-Dealer) that participates in the Exchange Offer, such Holder does not receive freely tradeable Exchange Notes on the date of the exchange and any such Holder so requests, or (v) the Company so
elects, the Company shall, for the benefit of the Holders, promptly deliver to the Holders and the Trustee written notice thereof and, at its cost, use all commercially reasonable efforts to have a Shelf Registration Statement covering continuous
resales of the Notes or the Exchange Notes, as the case may be, declared effective by the SEC within the later of (x) 180 days after being required or requested to file a Shelf Registration Statement and (y) 270 days after the Issue Date.
No Holder of Registrable Securities shall be entitled to include any of its Registrable Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder agrees in writing to be bound by all of the provisions of
this Agreement applicable to such Holder and furnishes to the Company in writing, within 15 days after receipt of a request therefor, such information as the Company may, after conferring with counsel with regard to information relating to Holders
that would be required by the SEC to be included in such Shelf Registration Statement or Prospectus included therein, reasonably request for inclusion in any Shelf Registration Statement or Prospectus included therein. Each Holder as to which any
Shelf Registration is being effected agrees promptly to furnish to the Company all information with respect to such Holder necessary to make the information previously furnished to the Company by such Holder not materially misleading. 

The Company agrees to use all commercially reasonable efforts to keep the Shelf Registration Statement continuously effective for two years
from the Issue Date (subject to extension pursuant to the last paragraph of Section 3 hereof) or for such shorter period which will terminate when all of the securities covered by the Shelf Registration Statement have been sold pursuant to the
Shelf Registration Statement or cease to be Registrable Securities (the “Effectiveness Period”). The Company shall not permit any securities other than Registrable Securities to be included in the Shelf Registration. The Company
will, in the event a Shelf Registration Statement is declared effective, provide to each Holder a reasonable number of copies of the Prospectus which is a part of the Shelf Registration Statement and notify each such Holder when the Shelf
Registration has become effective. The Company further agrees, if necessary, to supplement or amend the Shelf Registration Statement, if required by the rules, regulations or instructions applicable to the registration form used by the Company for
such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder for shelf registrations, and the Company agrees to furnish to the Holders of Registrable Securities copies of any such supplement or
amendment promptly after its being used or filed with the SEC. 

  
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 (c) Expenses. 

The Company shall pay all Registration Expenses in connection with the registration pursuant to Section 2(a) or 2(b) hereof. Except as
provided herein, each Holder shall pay all expenses of its counsel, underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf
Registration Statement. 
 (d) Effective Registration Statement. 

An Exchange Offer Registration Statement pursuant to Section 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b)
hereof (or a combination of the two) will not be deemed to have become effective unless it has been declared effective by the SEC; provided, however, that if, after it has been declared effective, the offering of Registrable Securities pursuant to a
Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court, such Registration Statement will be deemed not to have been effective during the period
of such interference, until the offering of Registrable Securities pursuant to such Registration Statement may legally resume. The Company will be deemed not to have used all commercially reasonable efforts to cause the Exchange Offer Registration
Statement or the Shelf Registration Statement, as the case may be, to become, or to remain, effective during the requisite period if it voluntarily takes any action that would result in any such Registration Statement not being declared effective or
in the Holders of Registrable Securities covered thereby not being able to exchange or offer and sell such Registrable Securities during that period unless such action is required by applicable law. 

(e) Additional Interest. 

The Company will pay Additional Interest on the Notes if: 

(i) the Exchange Offer Registration Statement (or, if a change in law or in applicable interpretations of the staff of the SEC
does not permit the Company to effect an Exchange Offer, the Shelf Registration Statement) is not declared effective by the SEC within 270 days after the Issue Date; or 

(ii) the Exchange Offer is not consummated within 315 days after the Issue Date (unless the Company is not permitted to effect
an Exchange Offer as specified in clause (i) above); or 
 (iii) the Shelf Registration Statement (except as specified
in clause (i)) is not declared effective by the SEC within the later of (x) 180 days after being requested to file a Shelf Registration Statement and (y) 270 days after the Issue Date; or 

(iv) (A) after the Exchange Offer Registration Statement is declared effective, such Registration Statement thereafter ceases
to be effective at any time during the Exchange Period or the Applicable Period, as the case may be, or (B) after the Shelf Registration Statement has been declared effective, such Registration Statement ceases to be effective or usable in
connection with resales of Notes (other than after such time as 

  
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all Notes have been disposed of thereunder or otherwise cease to be Registrable Securities) (each such event specified in (i) - (iv) of this Section 2(e), a “Registration
Default”). 
 Additional Interest will accrue over and above the otherwise applicable interest rate on the Notes and the Exchange Notes, as the
case may be, from and including the date on which any such Registration Default shall occur to but excluding the date on which all such Registration Defaults have been cured, or if earlier, the date two years from the Issue Date, at the rate of
0.50% per annum (“Additional Interest Rate”); provided, however, that the Additional Interest Rate may not exceed in the aggregate 0.50% per annum. 

Any amounts of Additional Interest due pursuant to Section 2(e) above will be payable in cash on the relevant payment dates for the
payment of interest on the Notes pursuant to the Indenture. 
 (f) Specific Enforcement. 

Without limiting the remedies available to the Holders, the Company acknowledges that any failure of the Company to comply with its
obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Holders for which there is no adequate remedy at law, that it would not be possible to measure damages for such injuries precisely and
that, in the event of any such failure, any Holder may obtain such relief as may be required to specifically enforce the obligations of the Company under Section 2(a) and Section 2(b) hereof. 

 

	 	3.	Registration Procedures. 

 In connection with the obligations of the Company with respect
to the Registration Statements pursuant to Sections 2(a) and 2(b) hereof, the Company shall: 
 (a) prepare and file with the SEC a
Registration Statement or Registration Statements as prescribed by Sections 2(a) and 2(b) hereof within the relevant time period specified and on the appropriate form(s) under the Securities Act, which form(s) (i) shall be selected by the
Company, (ii) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the selling Holders thereof and (iii) shall comply as to form in all material respects with the requirements of the
applicable form and include all financial statements required by the SEC to be filed therewith; and use all commercially reasonable efforts to cause such Registration Statement(s) to become effective and remain effective in accordance with
Section 2 hereof; provided, however, that if (1) such filing is pursuant to Section 2(b), or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2(a) is required to be delivered
under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes, before filing any such Registration Statement or Prospectus or any amendments or supplements thereto, the Company shall furnish to and afford the Holders
of the Registrable Securities and each such Participating Broker-Dealer, as the case may be, covered by such Registration Statement, their counsel and the managing underwriters, if any, a reasonable opportunity to review copies of all such documents
(including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed. The Company 

  
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shall not file any Registration Statement or Prospectus or any amendments or supplements thereto in respect of which the Holders must be afforded an opportunity to review prior to the filing of
such document if the Majority Holders or such Participating Broker-Dealer, as the case may be, their counsel or the managing underwriters, if any, shall reasonably object; 

(b) prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may be necessary to keep
such Registration Statement effective for the Effectiveness Period or the Applicable Period, as the case may be, and cause each Prospectus to be supplemented, if so determined by the Company or requested by the SEC, by any required prospectus
supplement and as so supplemented to be filed pursuant to Rule 424 (or any similar provision then in force) under the Securities Act, and comply with the provisions of the Securities Act, the Exchange Act and the rules and regulations promulgated
thereunder applicable to it with respect to the disposition of all securities covered by each Registration Statement during the Effectiveness Period or the Applicable Period, as the case may be, in accordance with the intended method or methods of
distribution by the selling Holders thereof described in this Agreement (including sales by any Participating Broker-Dealer); 
 (c) in the
case of a Shelf Registration, (i) notify each Holder of Registrable Securities included in the Shelf Registration Statement, at least three Business Days prior to filing, that a Shelf Registration Statement with respect to the Registrable
Securities is being filed and advise such Holder that the distribution of Registrable Securities will be made in accordance with the method selected by the Majority Holders, (ii) furnish to each Holder of Registrable Securities included in the
Shelf Registration Statement and to each underwriter of an underwritten offering of Registrable Securities, if any, without charge, as many copies of each Prospectus, including each preliminary prospectus, and any amendment or supplement thereto and
such other documents as such Holder or underwriter may reasonably request, in order to facilitate the public sale or other disposition of the Registrable Securities, (iii) consent to the use of the Prospectus or any amendment or supplement
thereto by each of the selling Holders of Registrable Securities included in the Shelf Registration Statement in connection with the offering and sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto and
(iv) furnish to each Holder of Registrable Securities either a summary of the terms of this Agreement or a copy of this Agreement; 

(d) in the case of a Shelf Registration, register or qualify the Registrable Securities under all applicable state securities or “blue
sky” laws of such jurisdictions by the time the applicable Registration Statement is declared effective by the SEC as any Holder of Registrable Securities covered by a Registration Statement and each underwriter of an underwritten offering of
Registrable Securities shall reasonably request in writing in advance of such date of effectiveness; provided, however, that the Company shall not be required to (i) qualify as a foreign corporation or as a dealer in securities in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (ii) file any general consent to service of process in any jurisdiction where it would not otherwise be subject to such service of process or
(iii) file annual reports or comply with any other requirements deemed in its reasonable judgment to be unduly burdensome; 
 (e) in
the case (1) of a Shelf Registration or (2) Participating Broker-Dealers from whom the Company has received prior written notice that they will be utilizing the 

  
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Prospectus contained in the Exchange Offer Registration Statement as provided in Section 3(t) hereof, are seeking to sell Exchange Notes and are required to deliver Prospectuses, promptly
notify each Holder of Registrable Securities, or each such Participating Broker-Dealer, as the case may be, their counsel and the managing underwriters, if any, and promptly confirm such notice in writing (i) when a Registration Statement has
become effective and when any post-effective amendments and supplements thereto become effective, (ii) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement or Prospectus or for
additional information after the Registration Statement has become effective, (iii) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the qualification of
the Registrable Securities or the Exchange Notes to be offered or sold by any Participating Broker-Dealer in any jurisdiction described in paragraph 3(d) hereof or the initiation of any proceedings for that purpose, (iv) in the case of a Shelf
Registration, if, between the effective date of a Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company contained in any purchase agreement, securities sales
agreement or other similar agreement related to such sale, if any, cease to be true and correct in all material respects, (v) of the happening of any event or the failure of any event to occur or the discovery of any facts or otherwise, during
the Effectiveness Period which makes any statement made in such Registration Statement or the related Prospectus untrue in any material respect or which causes such Registration Statement or Prospectus to omit to state a material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not misleading and (vi) when the Company reasonably determines that a post-effective amendment to the Registration Statement would be appropriate; 

(f) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement at the
earliest possible moment; 
 (g) in the case of a Shelf Registration, furnish to each Holder of Registrable Securities included within the
coverage of such Shelf Registration Statement, without charge, at least one conformed copy of each Registration Statement relating to such Shelf Registration and any post effective amendment thereto (without documents incorporated therein by
reference or exhibits thereto, unless requested); 
 (h) in the case of a Shelf Registration, cooperate with the selling Holders of
Registrable Securities to facilitate the timely preparation and delivery of certificates (if the Registrable Securities are in certificated form) representing Registrable Securities to be sold and not bearing any restrictive legends and in such
denominations (consistent with the provisions of the Indenture) and registered in such names as the selling Holders or the underwriters, if any, may reasonably request at least two Business Days prior to the closing of any sale of Registrable
Securities pursuant to such Shelf Registration Statement; 
 (i) in the case of a Shelf Registration or an Exchange Offer Registration, upon
the occurrence of any circumstance contemplated by Section 3(e)(ii), 3(e)(iv), 3(e)(v) or 3(e)(vi) hereof, prepare a supplement or post-effective amendment to a Registration Statement or the related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement of a material fact or omit to state a

  
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material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and notify each Holder to suspend use of the Prospectus as
promptly as practicable after the occurrence of such an event, and each Holder hereby agrees to suspend use of the Prospectus until the Company has amended or supplemented the Prospectus to correct such misstatement or omission; 

(j) in the case of a Shelf Registration, a reasonable time prior to the filing of any document which is to be incorporated by reference into a
Registration Statement or a Prospectus after the initial filing of a Registration Statement, provide a reasonable number of copies of such document to the Holders and make such of the representatives of the Company as shall be reasonably requested
by the Holders of Registrable Securities or the Initial Purchasers on behalf of such Holders available for reasonable discussion of such document; 

(k) obtain a CUSIP number for each series of the Exchange Notes, no later than the effective date of a Registration Statement, and provide the
Trustee with printed certificates for the Exchange Notes or the Registrable Securities, as the case may be, in a form eligible for deposit with the Depositary; 

(l) cause the Indenture, if required by the TIA, to be qualified under the TIA in connection with the registration of the Exchange Notes or
Registrable Securities, as the case may be, and effect such changes to such documents as may be required for them to be so qualified in accordance with the terms of the TIA and execute, and use all commercially reasonable efforts to cause the
Trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such documents to be so qualified in a timely manner; 

(m) in the case of a Shelf Registration, enter into such agreements (including underwriting agreements) as are customary in underwritten
offerings and consistent with the terms of the Purchase Agreement and take all such other appropriate actions as are reasonably requested in order to expedite or facilitate the registration or the disposition of such Registrable Securities, and in
such connection, whether or not an underwriting agreement is entered into and whether or not the registration is with respect to an underwritten offering, if requested by (x) any Initial Purchaser, in the case where such Initial Purchaser holds
Registrable Securities acquired by such Initial Purchaser as part of the Initial Purchasers’ initial distribution and (y) other Holders of Notes covered thereby: (i) make such representations and warranties to Holders of such
Registrable Securities and the underwriters (if any), with respect to the business of the Company and its subsidiaries as then conducted and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by
reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings, and confirm the same if and when requested; (ii) obtain opinions of counsel to the Company and updates thereof (which may be in the
form of a reliance letter) in form and substance 

  
 12 

 
reasonably satisfactory to the managing underwriters (if any) and the Holders of a majority in principal amount of the Registrable Securities being sold, addressed to each selling Holder and the
underwriters (if any) covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such underwriters (it being agreed that the matters to be covered by such
opinions may be subject to customary qualifications and exceptions); (iii) obtain “cold comfort” letters and updates thereof in form and substance reasonably satisfactory to the managing underwriters (if any) from the independent
certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements and financial data are, or
are required to be, included in the Registration Statement), addressed to each of such underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with
underwritten offerings and such other matters as reasonably requested by such underwriters in accordance with AU Section 634 and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and
procedures no less favorable than those set forth in Section 4 hereof (or such other provisions and procedures acceptable to Holders of a majority in aggregate principal amount of Registrable Securities covered by such Registration Statement
and the managing underwriters or agents) with respect to all parties to be indemnified pursuant to said Section (including, without limitation, such underwriters and selling Holders). The above shall be done at each closing under such underwriting
agreement or, as and to the extent required thereunder and as consistent with the terms of, the Purchase Agreement; 
 (n) if (1) a
Shelf Registration is filed pursuant to Section 2(b) hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2(a) is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make reasonably available for inspection by any selling Holder of such Registrable Securities being sold, or each such Participating Broker-Dealer, as the
case may be, any underwriter participating in any such disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer, as the case may be, or
underwriter (collectively, the “Inspectors”), at the offices where normally kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries
(collectively, the “Records”) as shall be reasonably necessary to enable the Inspectors to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Company and its subsidiaries
to supply all relevant information in each case reasonably requested by any such Inspector in connection with such Registration Statement; provided, however, that the foregoing inspection and information gathering shall be coordinated on behalf of
all such parties by the Company’s-designated Holders’ counsel, at the expense of such parties as described in Section 2(c) hereof. Records of the Company and its subsidiaries, which the Company determines, in good faith, to be
confidential and any records which it notifies the Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a material misstatement or omission in such
Registration Statement, provided that the Company shall be consulted prior to any such disclosure, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or is necessary in
connection with any action, suit or proceeding or (iii) the information in such Records has been made available to the public by the Company or a third party that did not obtain the Records from a Broker-Dealer. Each selling Holder of such
Registrable Securities and each such Participating Broker-Dealer will be required to agree in writing that information obtained by it or any Inspector retained by it as a result of such inspections shall be deemed confidential and shall not be used
by it or any Inspector retained by it as the basis for any market transactions in the securities of the Company unless and until such is made generally available to the public. Each selling Holder of such Registrable Securities and each such
Participating 

  
 13 

 
Broker-Dealer will be required to further agree in writing that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company
and allow the Company at its expense to undertake appropriate action to prevent disclosure of the Records deemed confidential; 
 (o) comply
with all applicable rules and regulations of the SEC so long as any provision of this Agreement shall be applicable and make generally available to its security holders an earning statement satisfying the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 60 days after the end of any 12-month period (or 120 days after the end of any 12-month period if such period is a fiscal year)
(i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing on the
first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statement shall cover said 12-month periods; 

(p) upon consummation of an Exchange Offer, if requested by the Trustee, obtain an opinion of counsel to the Company addressed to the Trustee
for the benefit of all Holders of Registrable Securities participating in the Exchange Offer and which includes an opinion that (i) the Company has duly authorized, executed and delivered the Exchange Notes, (ii) each of the Exchange Notes
constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms (with customary exceptions) and (iii) the Indenture has been duly qualified under the TIA, or no such qualification
is required by the TIA; 
 (q) if an Exchange Offer is to be consummated, upon delivery of the Registrable Securities by Holders to the
Company (or to such other Person as directed by the Company), in exchange for the Exchange Notes, mark, or cause to be marked, on such Registrable Securities delivered by such Holders that such Registrable Securities are being cancelled in exchange
for the Exchange Notes, and in no event shall such Registrable Securities be marked as paid or otherwise satisfied; 
 (r) cooperate with
each seller of Registrable Securities covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Securities covered by a Registration Statement contemplated hereby; 

(s) use all commercially reasonable efforts to take all other steps necessary to effect the registration of the Registrable Securities covered
by a Registration Statement contemplated hereby; 
 (t) (A) in the case of the Exchange Offer Registration Statement
(i) (a) indicate in a “Plan of Distribution” section contained in the Prospectus contained in the Exchange Offer Registration Statement that any broker or dealer registered under the Exchange Act who holds Notes that are
Registrable Securities and that were acquired for its own account as a result of market-making activities or other trading activities (other than Registrable Securities acquired directly from the Company) (such broker or dealer, a
“Participating Broker-Dealer”), may exchange such Notes pursuant to the Exchange Offer; however, such Participating Broker-

  
 14 

 
Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in
connection with any resales of the Exchange Notes received by such Participating Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Participating Broker-Dealer of the Prospectus
contained in the Exchange Offer Registration Statement and (b) include in such “Plan of Distribution” section all other information with respect to such resales by Participating Broker-Dealers that the SEC may require in order to
permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Participating Broker-Dealer or disclose the amount of Exchange Notes held by any such Participating Broker-Dealer except to the extent required
by the SEC as a result of a change in policy announced after the date of this Agreement, (ii) furnish to each Participating Broker-Dealer who has delivered to the Company the notice referred to in Section 3(e), without charge, as many
copies of the Prospectus included in the Exchange Offer Registration Statement, including any preliminary prospectus, and any amendment or supplement thereto, as such Participating Broker-Dealer may reasonably request (the Company hereby consents to
the use of the Prospectus forming part of the Exchange Offer Registration Statement or any amendment or supplement thereto by any Person subject to the prospectus delivery requirements of the Securities Act, including all Participating
Broker-Dealers, in connection with the sale or transfer of the Exchange Notes covered by the Prospectus or any amendment or supplement thereto), (iii) use all commercially reasonable efforts to keep the Exchange Offer Registration Statement
effective and to amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the Securities Act for such period of time as such
Persons must comply with such requirements under the Securities Act and applicable rules and regulations in order to resell the Exchange Notes; provided, however, that such period shall not be required to exceed 90 days (or such longer period if
extended pursuant to the last sentence of Section 3 hereof) (the “Applicable Period”) and (iv) include in the related letter of transmittal or similar documentation to be executed by an exchange offeree in order to
participate in the Exchange Offer (x) the following provision: 
 “If the exchange offeree is a broker-dealer
holding Registrable Securities acquired for its own account as a result of market-making activities or other trading activities, it will deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of Exchange
Notes received in respect of such Registrable Securities pursuant to the Exchange Offer,” 
 and (y) a statement to the effect that by a
Participating Broker-Dealer making the acknowledgement described in clause (x) and by delivering a Prospectus in connection with the exchange of Registrable Securities, the Participating Broker-Dealer will not be deemed to admit that it is an
underwriter within the meaning of the Securities Act; and 
 (B) in the case of any Exchange Offer Registration Statement, deliver to the
Initial Purchasers or to another representative of the Participating Broker-Dealers, if requested by the Initial Purchasers or such other representative of the Participating Broker-Dealers, on behalf of the Participating Broker-Dealers upon
consummation of the Exchange Offer (i) an opinion of counsel in form and substance reasonably satisfactory to the Initial 

  
 15 

 
Purchasers or such other representative of the Participating Broker-Dealers, covering the matters customarily covered in opinions requested in connection with Exchange Offer Registration
Statements and such other matters as may be reasonably requested (it being agreed that the matters to be covered by such opinion may be subject to customary qualifications and exceptions), (ii) an officer’s certificate containing
certifications substantially similar to those set forth in the certificate delivered pursuant to Section 8(d) of the Purchase Agreement and such additional certifications as are customarily delivered in a public offering of debt securities and
(iii) as well as upon the effectiveness of the Exchange Offer Registration Statement, a comfort letter, in each case, in customary form as permitted by AU Section 634. Each of the foregoing shall be consistent with the terms of the
Purchase Agreement. 
 The Company may require each seller of Registrable Securities as to which any registration is being effected to
furnish to the Company such information regarding such seller as may be required by the staff of the SEC to be included in a Registration Statement. The Company may exclude from such registration the Registrable Securities of any seller who
unreasonably fails to furnish such information within a reasonable time after receiving such request. The Company shall not have any obligation to register under the Securities Act the Registrable Securities of a seller who so fails to furnish such
information. 
 In the case (1) of a Shelf Registration Statement or (2) Participating Broker-Dealers who have notified the
Company that they will be utilizing the Prospectus contained in the Exchange Offer Registration Statement as provided in Section 3(t) hereof, are seeking to sell Exchange Notes and are required to deliver Prospectuses, each Holder agrees that,
upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(e)(ii), 3(e)(iii), 3(e)(iv), 3(e)(v) or 3(e)(vi) hereof, such Holder will forthwith discontinue disposition of Registrable Securities
pursuant to a Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(i) hereof or until it is advised in writing (the “Advice”) by the Company
that the use of the applicable Prospectus may be resumed, and, if so directed by the Company, such Holder will deliver to the Company (at the Company’s expense) all copies in such Holder’s possession, other than permanent file copies then
in such Holder’s possession, of the Prospectus covering such Registrable Securities or Exchange Notes, as the case may be, current at the time of receipt of such notice. If the Company shall give any such notice to suspend the disposition of
Registrable Securities or Exchange Notes, as the case may be, pursuant to a Registration Statement, the Company shall file and use all commercially reasonable efforts to have declared effective (if an amendment) as soon as practicable an amendment
or supplement to the Registration Statement and shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by the number of days in the period from and including the date of the giving
of such notice to and including the date when the Company shall have made available to the Holders (x) copies of the supplemented or amended Prospectus necessary to resume such dispositions or (y) the Advice. 

 

	 	4.	Indemnification. 

 (a) In connection with any Registration Statement, the Company shall
indemnify and hold harmless each Initial Purchaser, each agent of each such Initial Purchaser, each Holder, each underwriter who participates in an offering of the Registrable Securities, each 

  
 16 

 
Participating Broker-Dealer, and each Person, if any, who controls any of such parties within the meaning of Section 15 of the Securities Act (each an “Indemnified Party”)
from and against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Securities Act or any other statute or common law and shall reimburse each such Indemnified Party for
any legal or other expenses reasonably incurred by them (including, to the extent hereinafter provided, reasonable counsel fees) as and when incurred by them in connection with investigating any such losses, claims, damages or liabilities or in
connection with defending any actions, insofar as such losses, claims, damages, liabilities, expenses or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any preliminary
prospectus or Prospectus, or in a Registration Statement, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading; provided, however, that the indemnity agreement contained in this Section 4 as to any Indemnified Party shall not apply to any such losses, claims, damages, liabilities, expenses or actions arising out of, or
based upon, any such untrue statement or alleged untrue statement, or any such omission or alleged omission, if such statement or omission was made in reliance upon and in conformity with information furnished in writing to the Company by such
Indemnified Party expressly for use in connection with the preparation of a Registration Statement or the related Prospectus or any amendment or supplement to either thereof. The indemnity agreement of the Company contained in this Section 4
shall remain operative and in full force and effect regardless of any termination of this Agreement or of any investigation made by or on behalf of any Indemnified Party, and shall survive the registration of the Registrable Securities. 

(b) Each Holder shall indemnify, defend and hold harmless the Company and any underwriter and other selling Holder, and their respective
officers and directors, and each Person who controls the Company or any underwriter or any other selling Holder within the meaning of Section 15 of the Securities Act, from and against any and all losses, claims, damages or liabilities, joint
or several, to which they or any of them may become subject under the Securities Act or any other statute or common law and shall reimburse each of them for any legal or other expenses reasonably incurred by them (including, to the extent
hereinafter provided, reasonable counsel fees) as and when incurred by them in connection with investigating any such losses, claims, damages or liabilities or in connection with defending any actions, insofar as such losses, claims, damages,
liabilities, expenses or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in a Registration Statement or the related Prospectus, or the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, if such statement or omission was made in reliance upon and in conformity with
information furnished in writing to the Company by or on behalf of such Holder, expressly for use in connection with the preparation of a Registration Statement or the related Prospectus or any amendment or supplement to either thereof. The
indemnity agreement of the respective Holders contained in this Section 4 shall remain operative and in full force and effect regardless of any termination of this Agreement or of any investigation made by or on behalf of the Company, any
underwriter, or any other selling Holder, or their respective directors or officers, or any such controlling person, and shall survive the registration of the Registrable Securities; provided, however, that, no such Holder shall be liable for any
claims hereunder in excess of the amount of net proceeds 

  
 17 

 
received by such Holder from the sale of Registrable Securities pursuant to a Registration Statement. 

(c) The Company and the Holders each shall, upon the receipt of notice of the commencement of any action against it or any Person controlling
it as aforesaid, in respect of which indemnity may be sought on account of any indemnity agreement contained herein, promptly give written notice of the commencement thereof to the party or parties against whom indemnity shall be sought hereunder,
but the failure to notify such indemnifying party or parties of any such action shall not relieve such indemnifying party or parties from any liability hereunder. In case such notice of any such action shall be so given, such indemnifying party
shall be entitled to participate at its own expense in the defense, or, if it so elects, to assume (in conjunction with any other indemnifying parties) the defense of such action, in which event such defense shall be conducted by counsel chosen by
such indemnifying party or parties and satisfactory to the indemnified party or parties who shall be defendant or defendants in such action, and such defendant or defendants shall bear the fees and expenses of any additional counsel retained by
them; but if the indemnifying party shall elect not to assume the defense of such action, such indemnifying party will reimburse such indemnified party or parties for the reasonable fees and expenses of any counsel retained by them; provided,
however, if the defendants in any such action (including impleaded parties) include both the indemnified party and the indemnifying party and counsel for the indemnifying party shall have reasonably concluded that there may be a conflict of interest
involved in the representation by a single counsel of both the indemnifying party and the indemnified party, the indemnified party or parties shall have the right to select separate counsel, satisfactory to the indemnifying party, whose reasonable
fees and expenses shall be paid by such indemnifying party, to participate in the defense of such action on behalf of such indemnified party or parties (it being understood, however, that the indemnifying party shall not be liable for the fees and
expenses of more than one separate counsel (in addition to local counsel) representing the indemnified parties who are parties to such action). The Company and the Holders each agree that without the other party’s prior written consent, which
consent shall not be unreasonably withheld, it will not settle, compromise or consent to the entry of any judgment in any claim in respect of which indemnification may be sought under the indemnification provisions of this Agreement, unless such
settlement, compromise or consent (i) includes an unconditional release of such other party from all liability arising out of such claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act
by or on behalf of such other party. 
 (d) If the indemnification provided for in (a) or (b) above shall be unenforceable under
applicable law by an indemnified party, each indemnifying party agrees to contribute to such indemnified party with respect to any and all losses, claims, damages, liabilities and expenses for which each such indemnification provided for in
(a) or (b) above shall be unenforceable, in such proportion as shall be appropriate to reflect the (i) relative fault of each indemnifying party on the one hand and the indemnified party on the other in connection with the statements
or omissions which have resulted in such losses, claims, damages, liabilities and expenses, the relative benefits received by each indemnifying party on the one hand and the indemnified party on the other hand from the offering of the Registrable
Securities pursuant to this Agreement, and any other relevant equitable considerations; provided, however, that no indemnified party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any indemnifying party not guilty of 

  
 18 

 
such fraudulent misrepresentation. Relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by such indemnifying party or the indemnified party and each such party’s relative intent, knowledge, access to information and opportunity to correct or prevent such
untrue statement or omission. The Company and each of the Holders agree that it would not be just and equitable if contributions pursuant to this paragraph (d) were to be determined by pro rata allocation (even if the Holders were treated as
one entity for such purpose) or by any other method of allocation which does not take into account the equitable considerations referred to above. Notwithstanding the provisions of this Section 4, no Holder shall be required to contribute in
excess of the amount equal to the excess of (i) the net proceeds received by such Holder from the sale of Registrable Securities by it to Eligible Holders, over (ii) the amount of any damages which such Holder has otherwise been required
to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. The obligations of each Holder to contribute pursuant to this Section 4 are several and not joint and shall not exceed the same proportion of all
contributions of Holders required hereunder as such Holder’s Registrable Securities sold pursuant to the Registration Statement is of the total amount of Registrable Securities sold pursuant to the Registration Statement. 

 

	 	5.	Participation in Underwritten Registrations. 

 No Holder may participate in any
underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements
and (b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents reasonably required under the terms of such underwriting arrangements. 

 

	 	6.	Selection of Underwriters. 

 The Holders of Registrable Securities covered by the Shelf
Registration Statement who desire to do so may sell the securities covered by such Shelf Registration in an underwritten offering. In any such underwritten offering, the underwriter or underwriters and manager or managers that will administer the
offering will be selected by the Holders of a majority in aggregate principal amount of the Registrable Securities included in such offering; provided, however, that such underwriters and managers must be reasonably satisfactory to the Company. 

 

	 	7.	Miscellaneous. 

 (a) Rule 144 and Rule 144A. To the extent the Company is subject
to the reporting requirements of Section 13 or 15 of the Exchange Act and any Registrable Securities remain outstanding, the Company will file the reports required to be filed by it under the Securities Act and Section 13(a) or 15(d) of
the Exchange Act and the rules and regulations adopted by the SEC thereunder. To the extent the Company is not required to file such reports, it will, upon the request of any Holder of Registrable Securities (a) make publicly available such
information as is necessary to permit sales of their securities pursuant to Rule 144 under the Securities Act, (b) deliver such information to prospective purchasers as is necessary to permit 

  
 19 

 
sales of their securities pursuant to Rule 144A under the Securities Act and take such further action as any Holder of Registrable Securities may reasonably request and (c) take such further
action that is reasonable in the circumstances, in each case, to the extent required from time to time to enable such Holder to sell its Registrable Securities without registration under the Securities Act within the limitation of the exemptions
provided by (i) Rule 144 under the Securities Act, as such rule may be amended from time to time, (ii) Rule 144A under the Securities Act, as such rule may be amended from time to time or (iii) any similar rules or regulations
hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements. 

(b) No Inconsistent Agreements. The Company has not entered into nor will the Company on or after the date of this Agreement enter into
any agreement which is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and
are not inconsistent with the rights granted to the holders of the Company’s other issued and outstanding securities under any such agreements. 

(c) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified
or supplemented, and waivers of or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable
Securities affected by such amendment, modification, supplement, waiver or departure; provided no departure with respect to the provisions of Section 4 hereof shall be effective as against any Holder of Registrable Securities without the
consent of such Holder. Notwithstanding the foregoing sentence, (i) this Agreement may be amended, without the consent of any Holder of Registrable Securities, by written agreement signed by the Company and the Trustee, to cure any ambiguity,
correct or supplement any provision of this Agreement that may be defective or inconsistent with any other provision of this Agreement or to make any other provisions with respect to matters or questions arising under this Agreement which shall not
be inconsistent with other provisions of this Agreement and shall not adversely affect the interests of the Holders in any material respect, (ii) without the consent of any Holder of Registrable Securities, this Agreement may be amended,
modified or supplemented, and waivers of and consents to departures from the provisions hereof may be given, by written agreement signed by the Company and the Trustee to the extent that any such amendment, modification, supplement, waiver or
consent is, in their reasonable judgment, necessary or appropriate to comply with applicable law (including any interpretation of the staff of the SEC) or any change therein and (iii) to the extent any provision of this Agreement relates to the
Initial Purchasers, such provision may be amended, modified or supplemented, and waivers of or consents to departures from such provisions may be given, by written agreement signed by the Company and the Trustee. 

(d) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
registered first-class mail, telecopier, any courier guaranteeing overnight delivery or in accordance with the book-entry transfer facility’s procedures (i) if to a Holder, at the most current address given by such Holder to the Company by
means of a notice given in accordance with the provisions of this Section 7(d), which address 

  
 20 

 
initially is, with respect to the Initial Purchasers, the addresses set forth in the Purchase Agreement and (ii) if to the Company, initially at the Company’s address set forth in the
Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 7(d). 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

Copies of all such notices, demands, or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at
the address specified in the Indenture. 
 (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors, assigns and transferees of each Initial Purchaser, including, without limitation and without the need for an express assignment, subsequent Holders; provided, however, that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether by operation of
law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities, such Person shall be conclusively deemed to have agreed to be bound by and to perform
all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. 
 (f) Third Party
Beneficiary. Each Initial Purchaser shall, when it no longer holds any beneficial interest in any Notes or Exchange Notes, be a third party beneficiary of the agreements made hereunder among the Company and the Holders and shall have the right
to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of Holders hereunder. 

(g) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(h) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 (i) GOVERNING LAW. THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN MADE IN THE STATE OF NEW YORK. THE VALIDITY AND
INTERPRETATION OF THIS AGREEMENT, AND THE TERMS AND CONDITIONS SET FORTH HEREIN, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY PROVISIONS RELATING TO CONFLICTS OF LAWS. EACH OF
THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF 

  
 21 

 
NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

(j) Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance,
is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 

(k) Securities Held by the Company or its Affiliates. Whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities held by the Company or any of its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was
given by the Holders of such required percentage. 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. 
  

					
	ONCOR ELECTRIC DELIVERY COMPANY LLC
		
	By:		 /s/ John M. Casey

			Name:		John M. Casey
			Title:		Vice President-Treasurer

  
 [Signature page to
Registration Rights Agreement] 

					
	Accepted and delivered as of the date first above written:
	
	BARCLAYS CAPITAL INC.
		
	By:		 /s/ Pamela Kendal

			Name:		Pamela Kendall
			Title:		Director
	
	CITIGROUP GLOBAL MARKETS INC.
		
	By:		 /s/ Adam D. Bordner

			Name:		Adam D. Bordner
			Title:		Vice President
	
	J.P. MORGAN SECURITIES LLC
		
	By:		 /s/ Som Bhattacharyya

			Name:		Som Bhattacharyya
			Title:		Vice President
	
	RBC CAPITAL MARKETS, LLC
		
	By:		 /s/ Scott Primrose

			Name:		Scott Primrose
			Title:		Authorized Signatory
	
	RBS SECURITIES INC.
		
	By:		 /s/ Matt Schiffman

			Name:		Matt Schiffman
			Title:		Vice President

  
 [Signature page to
Registration Rights Agreement]EX-10.1

 Exhibit 10.1 

ONCOR ELECTRIC DELIVERY COMPANY LLC 

FOURTH AMENDED AND RESTATED 

EXECUTIVE ANNUAL INCENTIVE PLAN 

Plan Document 
 Effective as of
January 1, 2015 

 Contents 
  

 
 Third Amended and Restated Executive Annual
Incentive Plan 
  

							
	 Article I.
		 Purpose
		 	1	  
			
	 Article II.
		 Definitions
		 	1	  
			
	 Article III.
		 Eligibility and Participation
		 	3	  
			
	 Article IV.
		 Establishment of Performance Goals
		 	3	  
			
	 Article V.
		 Establishment of Awards
		 	3	  
			
	 Article VI.
		 Determination of Individual Participant Awards and Application of Individual Performance Modifier
		 	4	  
			
	 Article VII.
		 Payment of Awards
		 	4	  
			
	 Article VIII.
		 Termination of Employment and Partial Awards
		 	5	  
			
	 Article IX.
		 Administrative Provisions
		 	6	  

  
 i 

 ONCOR ELECTRIC DELIVERY COMPANY LLC 

FOURTH AMENDED AND RESTATED EXECUTIVE ANNUAL INCENTIVE PLAN 

Article I. Purpose. 
 The Oncor
Electric Delivery Company LLC Fourth Amended and Restated Executive Annual Incentive Plan (the “Plan”) is effective as of January 1, 2015. The Plan provides for annual bonus incentive award opportunities for eligible Participants
payable in cash. The Plan amends and restates in its entirety the Third Amended and Restated Executive Annual Incentive Plan effective as of January 1, 2011. 

The principal purposes of the Plan are to attract, motivate and retain key employees; to align the interests of Participants and the Company
by rewarding performance that satisfies established performance goals; to motivate Participant behaviors that drive successful results at the Company and individual levels; and to support collaboration across essential organizational interfaces.

 Article II. Definitions. 

When used in the Plan, the following terms shall have the meanings set forth below: 

(a) “Additional Persons” means such other individuals who are not Executive Officers, under the Plan, but who are senior
officers and key employees identified by the O&C Committee, in consultation with the Company CEO. 
 (b) “Award” means
the amount payable to a Participant under this Plan for any Plan Year, as determined in accordance with the terms of the Plan. 
 (c)
“Base Salary” means the annualized base salary designated for the Participant in the payroll records of the Company, prior to any deferrals, and excluding any overtime pay, bonuses, incentive compensation, expense reimbursements and
fringe benefits of any kind for the applicable Plan Year. 
 (d) “Company” means Oncor Electric Delivery Company LLC,
a Delaware limited liability company, and its successors and assigns. 
 (e) “Company CEO” means the Chief Executive of the
Company. 
 (f) “Disability” or “Disabled” means disability as determined under the EFH Long-Term Disability
Income Plan, or any successor plan covering Participants. 
 (g) “EBITDA” means Earnings Before Interest, Taxes,
Depreciation and Amortization, as defined by the O&C Committee. 
 (h) “Executive Officers” means the Company
CEO and other Executive Officers, as defined under the charter of the O&C Committee. 
 (i) “Executive Team” means the
group of Executive Officers of the Company referred to internally as the Executive Team. 
 (j) “Final Funding Percentage”
means the percentage that is determined by the O&C Committee for each Plan Year in accordance with Article V(C) of this Plan. 

  
 1 

 (k) “Funding Trigger Percentage” means a percentage based on the amount or level
of attainment of the Threshold EBITDA, Target EBITDA and Superior EBITDA for a particular Plan Year. 
 (l) “Individual Performance
Modifier” means a percentage based on individual Participant performance established by the O&C Committee for Executive Officers and Additional Persons or the Executive Team for other Participants, in accordance with Article IV, and
used in determining a Participant’s Award. The Individual Performance Modifier may be based on factors which include, without limitation, Company financial or operational measures, individual management and other goals, personal job objectives
and competencies, the demonstration of team building and support attributes, and general demeanor and behavior. 
 (m) “O&C
Committee” means the Organization and Compensation Committee of the Board of Directors of the Company. 
 (n) Operational
Metric(s)” means the operational or other metrics that the O&C Committee elects to apply in determining the Final Funding Percentage for a particular Plan Year. 

(o) “Operational Metric Funding Percentage” means a percentage established by the O&C Committee based on the total amount
or level of attainment of the threshold, target, superior and/or other performance level measurement of the Operational Metrics set by the O&C Committee for a particular Plan Year 

(p) “Participant” means an individual who is an elected officer of the Company having a title of vice president or above or
who is designated as an Additional Person and who is employed by the Company for a period of three full months during the Plan Year. 
 (q)
“Plan” means this Fourth Amended and Restated Executive Annual Incentive Plan. 
 (r) “Plan Year” means
the twelve (12) month period beginning each January 1 and ending December 31. 
 (s) “Retirement” means
termination of employment with the Company upon attaining at least age 55, completing at least 15 years of accredited service, or otherwise meeting the criteria for retiring under the EFH Retirement Plan, or a successor plan. 

(t) “Superior EBITDA” means the superior level amount of EBITDA established by the O&C Committee for a particular Plan
Year, achievement of which results in a Funding Trigger Percentage of 150%. 
 (u) “Target Award” means an Award amount for
an individual Participant equal to a percentage of the Participant’s Base Salary, which is anticipated based on target performance of the Company and individual Participant performance. The Target Award shall be used in calculating an
individual’s actual Award for a Plan year. 
 (v) “Target EBITDA” means the target amount of EBITDA established by the
O&C Committee for a particular Plan Year, achievement of which results in a Funding Trigger Percentage of 100%. 
 (w) “Target
Incentive Pool” means the amount equal to the aggregate of the Target Awards for all Participants, or a selected group of Participants, as the context may require. 

  
 2 

 (x) “Threshold EBITDA” means an amount of EBITDA established by the O&C
Committee, achievement of which is necessary to fund any awards under this Plan for a given Plan Year and results in a Funding Trigger Percentage of 50%. 

(y) “Total Weighted Operational Metric Funding Percentage” means a percentage calculated by adding together the weighted
Operational Metric Funding Percentage for each Operational Metric in a given Plan Year. The weighted Operational Metric Funding Percentage for each Operational Metric shall be determined by multiplying the Operational Metric Funding Percentage by
the weighted percentage level assigned to such Operational Metric by the O&C Committee for a particular Plan Year. 
 Article III. Eligibility and
Participation. 
 All individuals who, as of the first day of a Plan Year, meet the definition of a Participant hereunder,
shall be eligible to participate in this Plan for such Plan Year. Awards, if any, for individuals who become Participants during the Plan Year or whose participation in this Plan is terminated during the Plan Year, shall be determined under, and in
accordance with, Article VIII hereof. Participation in this Plan for any Plan Year shall not entitle an individual to future participation. 
 Article
IV. Establishment of Performance Goals. 
 For each Plan Year, the O&C Committee will establish: (i) the Threshold
EBITDA, (ii) the Target EBITDA, (iii) the Superior EBITDA, (iv) the Operational Metrics and the applicable threshold, target, superior and/or other performance level measurements for such Operational Metrics, (v) the weighting of
each Operational Metric to be used in calculating the Total Weighted Operational Metric Funding Percentage, and (vi) the Target Award for Executive Officers and Additional Persons. For each Plan Year, the Executive Team will determine the
Target Award for each Participant, other than for Executive Officers and Additional Persons. Such determinations by the O&C Committee and the Executive Team shall be made at such times and shall be based on such criteria as the O&C Committee
and the Executive Team shall determine, respectively, in their sole discretion. The O&C Committee and the Executive Team shall each have full authority and discretion, for any particular Plan Year, to modify at any time prior to the payout of
the Award, if any, for such Plan Year any of their respective determinations hereunder, with respect to all Participants or any individual Participant, including, without limitation, determinations which affect the calculation or amount of Awards,
the Final Funding Percentage or the Individual Performance Modifier. Once determined, or modified, such determinations shall be communicated to the affected Participants in such form and manner as the Executive Team determines to be appropriate.

 Article V. Establishment of Awards. 

After the end of each Plan Year, the O&C Committee shall certify the amount or level of the Company’s EBITDA and the Operational
Metrics attained. The O&C Committee shall also determine the Funding Trigger Percentage, the Total Weighted Operational Metric Funding Percentage and the resulting Final Funding Percentage for the Plan Year. 

 

	A.	Determination of the Funding Trigger Percentage. 

 The Funding Trigger Percentage shall
be determined based on the Company’s level of attainment of EBITDA, as determined by the O&C Committee. Failure to achieve the Threshold EBITDA level will result in no funding of awards under this Plan for such Plan Year. Achievement of the
Threshold EBITDA level will result in a Funding Trigger Percentage of 50%. Achievement of the Target EBITDA level will result in a Funding Trigger Percentage of 100%, with the achievement of an EBITDA level over the Threshold EBITDA but less than
the Target EBITDA resulting in a Funding Trigger Percentage equal to the percentage of the Target EBITDA achieved. Achievement of the Superior EBITDA level will result in a 

  
 3 

 
Funding Trigger Percentage of 150%, with the achievement of an EBITDA level over the Target EBITDA level but less than the Superior EBITDA level resulting in a Funding Trigger Percentage between
100%-150% based on the percentage of the Superior EBITDA achieved. 
  

	B.	Determination of the Total Weighted Operational Metric Funding Percentage. 

 If the
Threshold EBITDA level is achieved, the Total Weighted Operational Metric Funding Percentage shall be calculated. The Operational Metric Funding Percentage for each Operational Metric shall be determined by the Company’s level of achievement of
each of the operational metrics set by the O&C Committee for the Plan Year. Each Operational Metric Funding Percentage shall then be multiplied by the weighting percentage of such Operational Metric as set by the O&C Committee to determine a
weighted Operational Metric Funding Percentage. The weighted Operational Metric Funding Percentages shall be added together to determine the Total Weighted Operational Metric Funding Percentage. 

 

	C.	Determination of the Final Funding Percentage. 

 If EBITDA is above the Target EBITDA
level, the Final Funding Percentage is calculated by multiplying the Funding Trigger Percentage by the Total Weighted Operational Metric Funding Percentage; provided, however, that if the product of such calculation exceeds the Funding Trigger
Percentage it shall be reduced to the amount of the Funding Trigger Percentage. If EBITDA is at the Target EBITDA level or between the Target EBITDA level and the Threshold EBITDA level, the Final Funding Percentage is the lesser of the Funding
Trigger Percentage or the Total Weighted Operational Metric Funding Percentage. 
 Article VI. Determination of Individual Participant Awards and
Application of Individual Performance Modifier. 
  

	A.	Determination of Individual Participant Awards. 

 Each Participant’s Award for a
Plan Year will be determined after the end of each Plan Year by multiplying the Participant’s Target Award by the Final Funding Percentage; and multiplying such amount by the applicable Individual Performance Modifier determined in accordance
with Section VI.B. below. The O&C Committee shall determine each Award for Executive Officers and Additional Persons and the Executive Team shall determine each Award for other Participants. 

 

	B.	Application of Individual Performance Modifier. 

 (i) As described in Section VI.A.
above, the amount determined by multiplying the Participant’s Target Award by the Final Funding Percentage shall be adjusted by applying the Individual Performance Modifier for each Participant in the sole discretion of (a) the O&C
Committee, in the case of Executive Officers or Additional Persons, or (b) the Executive Team, in the case of all other Participants. 

(ii) The Participant’s Individual Performance Modifier shall be established by the O&C Committee or the Executive Team, as
applicable, in its sole discretion within the range of plus fifty percent (+50%) and minus fifty percent (-50%), or such other range as may be determined by the O&C Committee. 

Article VII. Payment of Awards. 

All Awards will be paid in the form of a lump sum cash payment to Participants by March 15 of the year following the end of the Plan Year
to which the Award relates, subject to applicable tax withholding requirements. 

  
 4 

 Article VIII. Termination of Employment and Partial Awards. 

Participation in the Plan shall cease immediately upon a Participant’s termination of employment with the Company for any reason (with or
without cause), including as a result of the Participant’s death, Disability, Retirement, or transfer to an affiliate of the Company. However, the Participant may be eligible for a partial award for the Plan Year in which termination of
employment occurs, in accordance with and subject to the provisions of Sections VIII.B and VIII.C. 
  

	A.	Resignation or Termination. 

 If a Participant voluntarily resigns his/her employment
with the Company or is terminated (with or without cause) by the Company for reasons other than death, Disability or Retirement, such Participant shall forfeit any right to receive an Award for the Plan Year in which such resignation or termination
takes place, or to receive in the future payment of an Award previously earned as of the prior Plan Year end. 
  

	B.	Death, Disability or Retirement. 

 Notwithstanding the foregoing, if a Participant dies,
becomes Disabled or retires during a Plan Year after having attained at least three (3) full months of participation in the Plan during such Plan Year, the Participant, or the Participant’s beneficiary in the case of the Participant’s
death, may, in the sole discretion of the Executive Team (or, in the case of a Participant who is an Executive Officer or Additional Person, in the discretion of the O&C Committee), be entitled to receive payment of a partial Award, prorated for
the number of months that the individual was a Participant during the Plan Year in which such death, Disability or Retirement takes place. For purposes of applying this proration, a month shall include each month during which the individual was
employed by the Company on the 15th day of such month prior to the individual’s death, Disability or Retirement, as the case may be. Any such Award shall be paid at the same time and in the
same form that all other Awards are paid for such Plan Year. The decisions of the Executive Team (or, in the case of a Participant who is an Executive Officer or Additional Person, the decisions of the O&C Committee) with respect to such Awards
shall be final and binding on all parties. For purposes of this provision, a Participant’s beneficiary shall be his/her surviving spouse or, if he/she has no surviving spouse, his/her estate. 

 

	C.	Transfers. 

 If a Participant (i) transfers employment to an affiliate of the
Company after having attained at least three (3) full months of participation in the Plan during the Plan Year, and (ii) continues to be employed by an affiliate of the Company through the remainder of the Plan Year, such individual shall,
based on criteria determined by the Executive Team in its sole discretion (or, in the case of a Participant who is an Executive Officer or Additional Person, based on criteria determined by the O&C Committee in its sole discretion), be entitled
to receive a partial Award hereunder, prorated on the basis of the number of months such individual was employed by the Company during the Plan Year. For purposes of applying this proration, a Participant shall be deemed to have been employed by the
Company for a month if such Participant was employed by the Company on the 15th day of such month. Any such Award shall be paid at the same time and in the same form that all other Awards are paid
for such Plan Year under this Plan. The decisions of the Executive Team (or, in the case of a Participant who is an Executive Officer or Additional Person, the decisions of the O&C Committee) with respect to such Awards shall be final and
binding on all parties. 

  
 5 

 Article IX. Administrative Provisions. 

 

	A.	Administration. 

 The O&C Committee and its members, jointly with the Company CEO and
any other individual to whom the O&C Committee and the Company CEO have delegated their responsibilities regarding the administration of this Plan, shall have full authority, discretion and power necessary or desirable to administer and
interpret this Plan. Without in any way limiting the foregoing, all such individuals shall have complete authority, discretion and power to: (i) determine the Participants for each Plan Year; (ii) evaluate and determine the performance of
Participants; (iii) determine the Individual Performance Modifier applicable to each Participant (iv) determine the amount of the Award for each Participant; (v) interpret the provisions of this Plan and any other documentation used
in connection with this Plan, including documentation specifying individual performance goals, Award opportunities and the like; (vi) establish and interpret rules and procedures (written or by practice) for the administration of the Plan; and
(vii) make all other determinations and take all other actions necessary or desirable for the administration or interpretation of this Plan. All actions, decisions and interpretations of such individuals shall be final, conclusive and binding
on all parties. 
  

	B.	No Right to Continued Employment. 

 Nothing in this Plan shall be deemed by implication,
action or otherwise to constitute a contract of employment, or otherwise to provide a Participant with any right of continued employment or impose any limitation on any right of the Company to terminate a Participant’s employment at any time.

  

	C.	No Assignment. 

 A Participant or Participant’s beneficiary shall have no right to
anticipate, alienate, sell, transfer, assign, pledge or encumber any right to receive any Award made under the Plan, nor will any Participant or Participant’s beneficiary have any lien on any assets of the Company, or any affiliate thereof, by
reason of any Award made under the Plan. No Award shall be in any manner subject to the debts, contracts, liabilities, engagements, or torts of any Participant. 
  

	D.	Withholding. 

 The Company shall have the right to deduct or withhold, or require a
Participant to remit to the Company, any taxes required by law to be withheld from Awards made under this Plan. 
  

	E.	Amendment of Plan. 

 The Plan may be amended, suspended or terminated at any time and
from time to time, by action of the O&C Committee, provided no such amendment, suspension or termination adversely affects any Participant’s right to receive any amount to which they have become entitled under the terms of this Plan prior
to such amendment, suspension or termination. In order to be effective, any amendment of this Plan or any Award must be in writing. No oral statement, representation or the like shall have the effect of amending or modifying this Plan or any Award,
or otherwise have any binding effect on the Company, the O&C Committee, the Executive Team, or any individual who has been delegated authority by the O&C Committee or the Executive Team to administer this Plan. 

  
 6 

	F.	No Obligation to Continue Plan. 

 The adoption of the Plan does not imply any commitment
to continue to maintain the Plan, or any modified version of the Plan, or any other plan for incentive compensation, for any succeeding year. 
  

	G.	Governing Law. 

 The Plan shall be construed in accordance with, and governed by, the
laws of the State of Texas, without regard to its conflicts of laws doctrine. Any disputes arising under this Plan and any action to enforce any provisions hereof, shall be maintained exclusively in the appropriate courts of Dallas County, Texas.

  

	H.	Severability. 

 In case any provision of the Plan shall be held illegal or void, such
illegality or invalidity shall not affect the remaining provisions of this Plan, but shall be fully severable, and the Plan shall be construed and enforced as if said illegal or invalid provisions had never been inserted herein. 

 

	I.	No Funding. 

 All payments to be made hereunder shall be paid from the general assets of
the Company, and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts. No Participant shall have any right, title, or interest whatsoever in or to any amounts under the Plan
prior to receipt. Nothing contained in the Plan, and no actions taken pursuant to its provisions, shall create or be construed to create a trust or fund of any kind, or a fiduciary relationship between the Company and any other person. The rights of
any Participant or beneficiary to any amounts hereunder shall be no greater than those of an unsecured general creditor of the Company. 
  

	J.	Limitation of Liability. 

 Except for their own gross negligence or willful misconduct
regarding the performance of the duties specifically assigned to them under, or their willful breach of the terms of this Plan, the Company, the O&C Committee and its members, the Executive Team and its members, and any other entity or
individual administering any aspect of this Plan shall be held harmless by the Participants and their respective representatives, heirs, successors, and assigns, against liability or losses occurring by reason of any act or omission under the Plan.

  

	K.	Successors. 

 This Plan may be assigned or transferred to, and shall be binding upon and
shall inure to the benefit of, any person, firm, corporation, or business entity which at any time, whether by merger or purchase, or otherwise, acquires all or substantially all of the assets, equity, or business of the Company. 

Executed March 26, 2015, to be effective as of January 1, 2015. 

 

			
	Oncor Electric Delivery Company LLC
		
	By:		 /s/ Deborah L. Dennis

	Deborah L. Dennis
	Senior Vice President
	Human Resources and Corporate Affairs

  
 7

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