Document:

EX-10.3

 Exhibit 10.3 

EXECUTION COPY 

ADMINISTRATION AGREEMENT 

among 
 NISSAN AUTO RECEIVABLES
2013-C OWNER TRUST 
 as Issuer 

NISSAN MOTOR ACCEPTANCE CORPORATION, 

as Administrator 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Indenture Trustee 

and 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Owner Trustee 

Dated as of December 11, 2013 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 1.
	 	 DUTIES OF THE ADMINISTRATOR
	  	 	2	  
			
	 2.
	 	 RECORDS
	  	 	7	  
			
	 3.
	 	 COMPENSATION
	  	 	7	  
			
	 4.
	 	 ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER
	  	 	7	  
			
	 5.
	 	 INDEPENDENCE OF THE ADMINISTRATOR
	  	 	7	  
			
	 6.
	 	 NO JOINT VENTURE
	  	 	7	  
			
	 7.
	 	 OTHER ACTIVITIES OF ADMINISTRATOR
	  	 	8	  
			
	 8.
	 	 TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR
	  	 	8	  
			
	 9.
	 	 ACTION UPON TERMINATION, RESIGNATION OR REMOVAL
	  	 	9	  
			
	 10.
	 	 NOTICES
	  	 	9	  
			
	 11.
	 	 AMENDMENTS
	  	 	10	  
			
	 12.
	 	 SUCCESSOR AND ASSIGNS
	  	 	11	  
			
	 13.
	 	 GOVERNING LAW
	  	 	11	  
			
	 14.
	 	 NO PETITION
	  	 	11	  
			
	 15.
	 	 HEADINGS
	  	 	11	  
			
	 16.
	 	 COUNTERPARTS
	  	 	11	  
			
	 17.
	 	 SEVERABILITY OF PROVISIONS
	  	 	11	  
			
	 18.
	 	 NOT APPLICABLE TO NMAC IN OTHER CAPACITIES
	  	 	12	  
			
	 19.
	 	 LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE
	  	 	12	  
			
	 20.
	 	 USAGE OF TERMS
	  	 	12	  

  

					
		  	-i-	  	(Nissan 2013-C Administration Agreement)

 This ADMINISTRATION AGREEMENT, dated as of December 11, 2013 (this
“Agreement”), among NISSAN AUTO RECEIVABLES 2013-C OWNER TRUST, a Delaware statutory trust (the “Issuer”), NISSAN MOTOR ACCEPTANCE CORPORATION, a California corporation, as administrator (the
“Administrator”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, not in its individual capacity but solely as Indenture Trustee (as defined below), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking
association with trust powers, not in its individual capacity but solely as Owner Trustee (as defined below). 
 W I T N E S S E T H: 

WHEREAS, beneficial ownership interests in the Issuer represented by the Nissan Auto Receivables 2013-C Owner Trust Asset Backed Certificates
(the “Certificates”) have been issued in connection with the formation of the Issuer pursuant to the Amended and Restated Trust Agreement, dated as of December 11, 2013 (the “Trust Agreement”), between Nissan
Auto Receivables Corporation II (“NARC II”), a Delaware corporation, as depositor, and Wilmington Trust, National Association, as owner trustee (the “Owner Trustee”); 

WHEREAS, the Issuer is issuing the Nissan Auto Receivables 2013-C Owner Trust 0.23000% Asset Backed Notes, Class A-1, the Nissan Auto
Receivables 2013-C Owner Trust 0.40% Asset Backed Notes, Class A-2, the Nissan Auto Receivables 2013-C Owner Trust 0.67% Asset Backed Notes, Class A-3, and the Nissan Auto Receivables 2013-C Owner Trust 1.30% Asset Backed Notes,
Class A-4 (collectively, the “Notes”) pursuant to the Indenture, dated as of December 11, 2013, (as amended and supplemented from time to time, the “Indenture”), between the Issuer and U.S. Bank National
Association, as indenture trustee (the “Indenture Trustee”); capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the Sale and Servicing Agreement, dated as of December 11, 2013,
among the Issuer, Nissan Motor Acceptance Corporation (“NMAC”), as servicer, and NARC II, as seller (the “Sale and Servicing Agreement”), as the case may be; 

WHEREAS, the Issuer and other parties have entered into certain agreements in connection with the issuance of the Certificates and the Notes,
including the Purchase Agreement, dated as of December 11, 2013 (the “Purchase Agreement”), between NMAC, as seller, and NARC II, as purchaser, the Trust Agreement, the Indenture, this Agreement, the Note Depository Agreement
and the Sale and Servicing Agreement (collectively, the “Basic Documents”); 
 WHEREAS, pursuant to the Basic Documents,
the Issuer is required to perform certain duties in connection with the Certificates, the Notes and the Collateral; 
 WHEREAS, the Issuer
desires to appoint NMAC as administrator to perform certain of the duties of the Issuer under the Basic Documents and to provide such additional services consistent with the terms of this Agreement and the Basic Documents as the Issuer may from time
to time request; and 
 WHEREAS, the Administrator has the capacity to provide the services required hereby and is willing to perform such
services for the Issuer on the terms set forth herein. 

  

					
		  		  	(Nissan 2013-C Administration Agreement)

 NOW, THEREFORE, in consideration of the mutual covenants contained herein, and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 
 1. DUTIES OF THE ADMINISTRATOR.

  

	 	(a)	Duties with respect to the Note Depository Agreement and the Indenture. 

(i) Subject to the limitations set forth in clause (c) below, the Administrator agrees to perform all its duties as
Administrator under the Basic Documents and the duties of the Issuer under the Note Depository Agreement and the Indenture. In addition, the Administrator shall consult with the Owner Trustee regarding the duties of the Issuer under the Indenture
and the Note Depository Agreement. The Administrator shall monitor the performance of the Issuer and shall advise the Owner Trustee when action by the Issuer or the Owner Trustee is necessary to comply with the Issuer’s duties under the
Indenture and the Note Depository Agreement. The Administrator shall prepare for execution by the Issuer or shall cause the preparation by other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as
it shall be the duty of the Issuer to prepare, file or deliver pursuant to the Indenture and the Note Depository Agreement. In furtherance of the foregoing, the Administrator shall take all appropriate action that is the duty of the Issuer to take
pursuant to the Indenture, including, without limitation, such of the foregoing as are required with respect to the following matters under the Indenture (references are to sections of the Indenture): 

(A) preparing or obtaining the documents and instruments required for the proper authentication of Notes and delivering the
same to the Indenture Trustee (Section 2.02); 
 (B) appointing the Note Registrar and giving the Indenture Trustee notice
of any appointment of a new Note Registrar and the location, or change in location, of the Note Register (Section 2.04); 

(C) preparing, obtaining and/or filing of all instruments, opinions and certificates and other documents required for the
release of Collateral (Section 2.09); 
 (D) maintaining an office in the Borough of Manhattan, City of New York, for the
registration of transfer or exchange of Notes (Section 3.02); 
 (E) causing newly appointed Paying Agents, if any, to
deliver to the Indenture Trustee the instrument specified in the Indenture regarding funds held in trust (Section 3.03); 

(F) directing the Indenture Trustee to deposit moneys with Paying Agents, if any, other than the Indenture Trustee (Section
3.03); 

  

					
		  	2	  	(Nissan 2013-C Administration Agreement)

 (G) obtaining and preserving or causing the Owner Trustee to obtain and preserve
the Issuer’s qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of the Indenture, the Notes, the Collateral and each other instrument and agreement
included in the Trust Estate (Section 3.04); 
 (H) preparing all supplements, amendments, financing statements,
continuation statements, instruments of further assurance and other instruments, in accordance with Section 3.05 of the Indenture, necessary to protect the Trust Estate (Sections 3.05 and 3.07(c)); 

(I) furnishing the required Opinions of Counsel in accordance with Sections 3.06 and 8.06 of the Indenture, and delivering the
annual Officer’s Certificates and certain other statements as to compliance with the Indenture, in accordance with Section 3.09 of the Indenture (Sections 3.06, 3.09 and 8.06); 

(J) identifying to the Indenture Trustee in an Officer’s Certificate any Person with whom the Issuer has contracted to
perform its duties under the Indenture (Section 3.07); 
 (K) notifying the Indenture Trustee and the Rating Agencies of any
Servicer Default pursuant to the Sale and Servicing Agreement and, if such Servicer Default arises from the failure of the Servicer to perform any of its duties under the Sale and Servicing Agreement, taking all reasonable steps available to remedy
such failure (Section 3.07(d)); 
 (L) preparing and obtaining documents and instruments required in connection with the
consolidation, merger or transfer of assets of the Issuer (Section 3.10); 
 (M) delivering notice to the Indenture Trustee
of each Event of Default and each other default by the Servicer or the Seller under the Sale and Servicing Agreement (Section 3.18); 

(N) monitoring the Issuer’s obligations as to the satisfaction and discharge of the Indenture and the preparation of an
Officer’s Certificate and obtaining the Opinion of Counsel and the Independent Certificate (as defined in the Indenture) related thereto (Section 4.01); 

(O) preparing and mailing the notification of the Indenture Trustee and the Noteholders with respect to special payment dates,
if any (Section 5.04(d)); 
 (P) preparing any Officer’s Certificates and obtaining any Opinions of Counsel and
Independent Certificates necessary for the release of the Trust Estate (Sections 8.04 and 8.06); 

  

					
		  	3	  	(Nissan 2013-C Administration Agreement)

 (Q) preparing Issuer Orders and obtaining Opinions of Counsel with respect to
the execution of any supplemental indentures, and mailing notices to the Noteholders with respect thereto (Sections 9.01, 9.02 and 9.03); 

(R) executing and delivering new Notes conforming to the provisions of any supplemental indenture, as appropriate (Section
9.06); 
 (S) preparing all Officer’s Certificates, Opinions of Counsel and Independent Certificates with respect to
any requests by the Issuer to the Indenture Trustee to take any action under the Indenture (Section 11.01(a)); 
 (T)
preparing and delivering Officer’s Certificates and obtaining Independent Certificates, if necessary, for the release of property or securities from the lien of the Indenture (Section 11.01(c)); 

(U) preparing and delivering to the Noteholders and the Indenture Trustee any agreements with respect to alternate payment and
notice provisions (Section 11.06); and 
 (V) recording the Indenture, if applicable (Section 11.14). 

(ii) The Administrator shall also: 

(A) pay the Indenture Trustee and the Owner Trustee from time to time the reasonable compensation provided for in the
Indenture and the Trust Agreement, respectively; 
 (B) reimburse the Indenture Trustee and the Owner Trustee for all
reasonable expenses, disbursements and advances incurred or made by the Indenture Trustee or the Owner Trustee to the extent the Indenture Trustee or the Owner Trustee is entitled to such reimbursement pursuant to Section 6.07 of the Indenture
or Sections 8.01 and 8.02 of the Trust Agreement, as applicable; and 
 (C) indemnify the Indenture Trustee and the Owner
Trustee and the other Indemnified Parties for, and hold each harmless against, any losses, liability or expense to the extent the Indenture Trustee or the Owner Trustee or the other Indemnified Parties are entitled to such indemnification pursuant
to the Indenture or the Trust Agreement, as applicable. 
  

	 	(b)	Additional Duties. 

 (i) In addition to the duties of the Administrator
set forth above, the Administrator shall perform such calculations, and shall prepare for execution by the Issuer or the Owner Trustee or shall cause the preparation by 

  

					
		  	4	  	(Nissan 2013-C Administration Agreement)

 
other appropriate persons of all such documents, reports, filings, instruments, certificates and opinions as it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver
pursuant to the Basic Documents (other than any notice required to be delivered by the Owner Trustee pursuant to Sections 3.07, 6.03(e) and 10.04 of the Trust Agreement), and at the request of the Owner Trustee shall take all appropriate action that
it is the duty of the Issuer or the Owner Trustee to take pursuant to the Basic Documents. Subject to Section 5 of this Agreement, and in accordance with the reasonable written directions of the Owner Trustee, the Administrator shall
administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Basic Documents) as are not covered by any of the foregoing provisions and as are expressly requested by the Owner Trustee and
are reasonably within the capability of the Administrator. 
 (ii) Notwithstanding anything in this Agreement or the Basic
Documents to the contrary, the Administrator shall be responsible for promptly notifying the Owner Trustee in the event that any withholding tax is imposed on the Issuer’s payments (or allocations of income) to a Certificateholder as
contemplated in Section 5.02(c) of the Trust Agreement. Any such notice shall specify the amount of any withholding tax required to be withheld by the Owner Trustee pursuant to such provision. 

(iii) Notwithstanding anything in this Agreement or the Basic Documents to the contrary, the Administrator shall be
responsible for performance of the duties of the Administrator set forth in Section 5.04(a), (b), (c), (d), (e) and (f) of the Trust Agreement with respect to, among other things, accounting and reports to the Certificateholders;
provided, however, that the Owner Trustee shall remain exclusively responsible for the mailing of the Schedule K-1s necessary to enable each Certificateholder to prepare its federal and state income tax returns. 

(iv) If any Certificateholder is not the Administrator or any of its Affiliates, the Administrator may satisfy its obligations
with respect to clauses (ii) and (iii) above and under the Trust Agreement by retaining, at the expense of the Administrator, a firm of independent public accountants (the “Accountants”) which shall perform the obligations of the
Administrator thereunder. 
 In connection with paragraph (ii) above, if any Certificateholder is not the Administrator
or any of its Affiliates, then the Administrator will cause the Accountants to provide, prior to December 1 of each year, a letter in form and substance satisfactory to the Owner Trustee as to whether any tax withholding is then required and,
if required, the procedures to be followed with respect thereto to comply with the requirements of the Code. The Accountants shall be required to update the letter in each instance that any additional tax withholding is subsequently required or any
previously required tax withholding shall no longer be required. 

  

					
		  	5	  	(Nissan 2013-C Administration Agreement)

 (v) The Administrator shall perform the duties of the Administrator specified in
Section 10.02 and Section 10.03 of the Trust Agreement required to be performed in connection with the resignation or removal of the Owner Trustee, and any other duties expressly required to be performed by the Administrator under the
Trust Agreement. 
 (vi) The Administrator shall perform all duties and obligations applicable to or required of the Issuer
set forth in Appendix A to the Sale and Servicing Agreement in accordance with the terms and conditions thereof. 
 (vii)
The Administrator shall obtain on behalf of the Trust, at its own expense, all licenses required to be held by the Trust under the laws of any jurisdiction in connection with ownership of the Receivables, and shall make all filings and pay all fees
as may be required in connection therewith during the term hereof. 
 (viii) In carrying out the foregoing duties or any of
its other obligations under this Agreement, the Administrator may enter into transactions with or otherwise deal with any of its Affiliates; provided, however, that the terms of any such transactions or dealings shall be in accordance with any
directions received from the Issuer and shall be, in the Administrator’s opinion, no less favorable to the Issuer than would be available from unaffiliated parties. 
  

	 	(c)	Non-Ministerial Matters. 

 (i) With respect to matters that in the
reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless within a reasonable time before the taking of such action the Administrator shall have notified the Owner Trustee of the proposed action
and the Owner Trustee shall not have withheld consent thereto or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation: 

(A) the amendment of the Indenture or execution of any supplement to the Indenture; 

(B) the initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or
against the Issuer (other than in connection with the collection of the Receivables); 
 (C) the amendment, change or
modification of any of the Basic Documents; 
 (D) the appointment of successor Note Registrars or successor Paying Agents
pursuant to the Indenture or the appointment of successor Administrators, or the consent to the assignment by the Note Registrar, Paying Agent or Indenture Trustee of its obligations, in each case under the Indenture; and 

  

					
		  	6	  	(Nissan 2013-C Administration Agreement)

 (E) the removal of the Indenture Trustee. 

(ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not
(x) make any payments to the Noteholders under the Basic Documents, (y) sell the Trust Estate pursuant to Section 5.04 of the Indenture, or (z) take any other action that the Issuer directs the Administrator not to take on its
behalf. 
  

	 	(d)	Notices to Rating Agencies. The Administrator will deliver to each Rating Agency notice (which notice shall be deemed to be delivered if delivered in accordance with Section 10) of the occurrence of
(i) any event of default for which it has been provided notice pursuant to Section 3.18 of the Indenture; (ii) any merger or consolidation of the Indenture Trustee pursuant to Section 6.09 of the Indenture; (iii) any
supplemental indenture pursuant to Section 9.01 and Section 9.02 of the Indenture; (iv) any merger or consolidation of the Owner Trustee pursuant to Section 10.04 of the Trust Agreement; (v) any amendment to the Trust
Agreement pursuant to Section 11.01 of the Trust Agreement; (vi) any Servicer Default for which it has been provided notice pursuant to Section 8.01 of the Sale and Servicing Agreement; and (vii) any termination of, or
appointment of a successor to, the Servicer for which it has been provided notice pursuant to Section 8.04 of the Sale and Servicing Agreement. 

2. RECORDS. The Administrator shall maintain appropriate books of account and records relating to services performed hereunder, which books of account
and records shall be accessible for inspection by the Issuer, the Owner Trustee and the Indenture Trustee at any time during normal business hours upon reasonable advance written notice. 

3. COMPENSATION. As compensation for the performance of the Administrator’s obligations under this Agreement and as reimbursement for its expenses
related thereto, the Administrator shall be entitled to a monthly payment of compensation in an amount to be agreed to between the Administrator and the Servicer, which shall be solely an obligation of the Servicer. 

4. ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER. The Administrator shall furnish to the Issuer from time to time such additional information
regarding the Collateral as the Issuer shall reasonably request. 
 5. INDEPENDENCE OF THE ADMINISTRATOR. For all purposes of this Agreement, the
Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer, the Owner Trustee or the Indenture Trustee with respect to the manner in which it accomplishes the performance of its obligations hereunder.
Unless expressly authorized by the Issuer hereunder or otherwise, the Administrator shall have no authority to act for or represent the Issuer, the Owner Trustee or the Indenture Trustee, and shall not otherwise be or be deemed an agent of the
Issuer, the Owner Trustee or the Indenture Trustee. 
 6. NO JOINT VENTURE. Nothing contained in this Agreement shall (i) constitute the
Administrator and any of the Issuer, the Owner Trustee or the Indenture Trustee as members of 

  

					
		  	7	  	(Nissan 2013-C Administration Agreement)

 
any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) be construed to impose any liability as such on any of them or (iii) be
deemed to confer on any of them any express, implied or apparent authority to incur any obligation or liability on behalf of the others. 
 7. OTHER
ACTIVITIES OF ADMINISTRATOR. Nothing herein shall prevent the Administrator or its Affiliates from engaging in other businesses or, in its or their sole discretion, from acting as an administrator for any other person or entity, or in a similar
capacity therefor, even though such person or entity may engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture Trustee. 

8. TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR. 
  

	 	(a)	This Agreement shall continue in force until the termination of the Issuer, upon which event this Agreement shall automatically terminate. 

 

	 	(b)	Subject to Sections 8(e) and 8(f), the Administrator may resign by providing the Issuer with at least 30 days’ prior written notice. 

 

	 	(c)	Subject to Sections 8(e) and 8(f), the Issuer may remove the Administrator without cause by providing the Administrator at least 30 days’ prior written notice. 

 

	 	(d)	Subject to Sections 8(e) and 8(f), at the sole option of the Issuer, the Administrator may be removed immediately upon written notice of termination from the Issuer to the Administrator if any of the
following events shall occur: 

 (i) the Administrator shall fail to perform in any material respect any of
its duties under this Agreement and, after notice of such default, shall not cure such default within 10 days (or, if such default cannot be cured in such time, shall not give within such 10 days such assurance of timely and complete cure as shall
be reasonably satisfactory to the Issuer); or 
 (ii) an Insolvency Event shall occur with respect to the Administrator.

 The Administrator agrees that if the event specified in clause (ii) of this Section shall occur, it shall give
written notice thereof to the Issuer, the Owner Trustee and the Indenture Trustee within seven days after the occurrence of such event. 
  

	 	(e)	No resignation or removal of the Administrator pursuant to this Section shall be effective until (i) a successor Administrator shall have been appointed by the Issuer and (ii) such successor Administrator
shall have agreed in writing to be bound by the terms of this Agreement on substantially the same terms as the Administrator is bound hereunder. 

  

					
		  	8	  	(Nissan 2013-C Administration Agreement)

	 	(f)	So long as the Notes are outstanding, the appointment of any successor Administrator shall be effective only after the Rating Agency Condition with respect to such appointment shall have been satisfied. Promptly after
the appointment of any successor Administrator, the successor Administrator shall provide notice of such appointment to each Rating Agency. 

  

	 	(g)	Subject to Section 8(e) and 8(f), the Administrator acknowledges that upon the appointment of a Successor Servicer pursuant to the Sale and Servicing Agreement, the Administrator shall immediately
resign and such Successor Servicer shall automatically succeed to the rights, duties and obligations of the Administrator under this Agreement. 

9. ACTION UPON TERMINATION, RESIGNATION OR REMOVAL. Promptly upon the effective date of termination of this Agreement pursuant to
Section 8(a) or the resignation or removal of the Administrator pursuant to Section 8(b) or 8(c) or 8(d), the Administrator shall be entitled to be paid all fees and reimbursable expenses accruing to it to the
date of such termination, resignation or removal. The Administrator shall forthwith upon such termination pursuant to Section 8(a) deliver to or to the order of the Issuer all property and documents of or relating to the Collateral then
in the custody of the Administrator. In the event of the resignation or removal of the Administrator pursuant to Section 8(b) or 8(c) or 8(d), the Administrator shall cooperate with the Issuer and take all reasonable steps
requested to assist the Issuer in making an orderly transfer of the duties of the Administrator. 
 10. NOTICES. Any notice, report or other
communication given hereunder shall be in writing and addressed as follows: 
  

	 	(a)	if to the Issuer or the Owner Trustee, to: 

 Nissan Auto Receivables 2013-C Owner Trust 

In care of: Wilmington Trust, National Association 

Rodney Square North 
 1100 North
Market Street 
 Wilmington, DE 19890 

Attention: Nissan Auto Receivables 2013-C Owner Trust 

with a copy to: 
 Nissan Auto
Receivables 2013-C Owner Trust 
 In care of: Nissan Motor Acceptance Corporation 

One Nissan Way 
 Franklin, TN
37067 
 Attention: Treasurer 
  

	 	(b)	if to the Administrator, to: 

 Nissan Motor Acceptance Corporation 

One Nissan Way 
 Franklin, TN
37067 
 Attention: Treasurer 

  

					
		  	9	  	(Nissan 2013-C Administration Agreement)

	 	(c)	if to the Indenture Trustee, to: 

 U.S. Bank National Association 

190 South LaSalle Street, 7th Floor 

Chicago, IL 60603 
 Attention:
NAROT 2013-C 
 or to such other address as any party shall have provided to the other parties in writing. Any notice required to be in writing hereunder
shall be deemed given if such notice is mailed by certified mail, postage prepaid, or hand delivered to the address of such party as provided above. 

All notices, requests, reports, consents or other communications deliverable to any Rating Agency hereunder or under any other Basic Document
shall be deemed to be delivered if a copy of such notice, request, report, consent or other communication has been posted on any website maintained by or on behalf of NMAC pursuant to a commitment to any Rating Agency relating to the Notes in
accordance with 17 C.F.R. 240 17g-5(a)(3). 
 11. AMENDMENTS. 
  

	 	(a)	Any term or provision of this Agreement may be amended by the Issuer, the Administrator, and the Indenture Trustee, with the consent of the Owner Trustee but without the consent of any Noteholder or Certificateholder or
any other Person, subject to the satisfaction of one of the following conditions: 

 (i) the Administrator
delivers an Officer’s Certificate or Opinion of Counsel to the Indenture Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 

(ii) the Rating Agency Condition is satisfied with respect to such amendment; 

provided, however, that in the event any Certificates are held by anyone other than the Administrator or any of its Affiliates, this Agreement
may only be amended by the Issuer, the Administrator and the Indenture Trustee if, in addition, (i) the Holders of the Certificates evidencing a majority of the Certificate Balance consent to such amendment or (ii) such amendment shall
not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of Counsel delivered to the Owner Trustee, materially and adversely affect the interests of the Certificateholders. 

 

	 	(b)	This Agreement may also be amended by the Issuer, the Administrator, and the Indenture Trustee, with the consent of the Owner Trustee, for the purpose of adding any provisions to or modifying or changing in any manner
or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders with the consent of: 

(i) the Holders of Notes evidencing not less than a majority of the Outstanding Amount of the Notes; and 

(ii) the Holders of the Certificates evidencing a majority of the Certificate Balance. 

  

					
		  	10	  	(Nissan 2013-C Administration Agreement)

 It shall not be necessary for the consent of Noteholders or Certificateholders to approve the
particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. 
 12. SUCCESSOR AND
ASSIGNS. This Agreement may not be assigned by the Administrator unless such assignment is consented to in writing by the Issuer, the Owner Trustee and the Indenture Trustee, and the conditions precedent to appointment of a successor
Administrator set forth in Section 8 are satisfied. An assignment with such consent and satisfaction, if accepted by the assignee, shall bind the assignee hereunder in the same manner as the Administrator is bound hereunder.
Notwithstanding the foregoing, this Agreement may be assigned by the Administrator without the consent of the Issuer, the Owner Trustee and the Indenture Trustee to a corporation or other organization that is a successor (by merger, consolidation or
purchase of assets) to the Administrator, provided that such successor organization executes and delivers to the Issuer, the Owner Trustee and the Indenture Trustee an agreement in which such corporation or other organization agrees to be bound
hereunder by the terms of said assignment in the same manner as the Administrator is bound hereunder. Subject to the foregoing, this Agreement shall bind any successors or assigns of the parties hereto. 

13. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without reference
to its conflict of law provisions (other than Section 5-1401 of the General Obligations Law of the State of New York), and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws. 

14. NO PETITION. Notwithstanding any prior termination of this Agreement, the Administrator shall not, prior to the date which is one year and one day
after payment in full of all obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party, acquiesce, petition or otherwise invoke or cause such Bankruptcy Remote Party to invoke the process of any
court or government authority for the purpose of commencing or sustaining a case against such Bankruptcy Remote Party under any federal or state bankruptcy, insolvency or similar law, or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of such Bankruptcy Remote Party or any substantial part of its property, or ordering the winding up or liquidation of the affairs of the Issuer. 

15. HEADINGS. The section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the meaning,
construction or effect of this Agreement. 
 16. COUNTERPARTS. This Agreement may be executed in counterparts, each of which when so executed shall
together constitute but one and the same agreement. 
 17. SEVERABILITY OF PROVISIONS. If any one or more of the agreements, provisions or terms of
this Agreement shall be for any reason whatsoever held invalid or unenforceable in any jurisdiction, then such agreements, provisions or terms shall be deemed severable from the 

  

					
		  	11	  	(Nissan 2013-C Administration Agreement)

 
remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement or the other rights of
the parties hereto. 
 18. NOT APPLICABLE TO NMAC IN OTHER CAPACITIES. Nothing in this Agreement shall affect any obligation, right or benefit NMAC
may have in any other capacity or under any Basic Document. 
 19. LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE. Notwithstanding
anything contained herein to the contrary, this instrument has been countersigned by Wilmington Trust, National Association, not in its individual capacity but solely in its capacity as Owner Trustee of the Issuer, and U.S. Bank National
Association, not in its individual capacity but solely in its capacity as Indenture Trustee under the Indenture and in no event shall Wilmington Trust, National Association in its individual capacity, U.S. Bank National Association, in its
individual capacity, or any Certificateholder have any liability for the representations, warranties, covenants, agreements or other obligations of the Issuer hereunder or in any of the certificates, notices or agreements delivered pursuant hereto,
as to all of which recourse shall be had solely to the assets of the Issuer. Additionally, the Indenture Trustee in its capacity hereunder shall be afforded the same indemnities, protections, rights, powers and immunities set forth in the Indenture
as if such indemnities, protections, rights, powers and immunities were specifically set forth herein. 
 20. USAGE OF TERMS. With respect to all
terms in this Agreement, the singular includes the plural and the plural the singular; words importing any gender include the other genders; references to “writing” include printing, typing, lithography and other means of reproducing words
in a visible form; references to agreements and other contractual instruments include all subsequent amendments, amendments and restatements, and supplements thereto or changes therein entered into in accordance with their respective terms and not
prohibited by this Agreement; references to Persons include their permitted successors and assigns; references to laws include their amendments and supplements, the rules and regulations thereunder and any successors thereto; the term
“including” means “including without limitation;” and the term “or” is not exclusive. 
 [Signature
Page Follows] 

  

					
		  	12	  	(Nissan 2013-C Administration Agreement)

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

					
	NISSAN AUTO RECEIVABLES 2013-C OWNER TRUST
		
	By:	 	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustees
			
		 	By:	 	 /s/ Dorri Costello

		 	Name:	 	Dorri Costello
		 	Title:	 	Assistant Vice President
	
	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Indenture Trustee
		
	By:	 	 /s/ Edwin Janis

	Name:	 	Edwin Janis
	Title:	 	Vice President
	
	NISSAN MOTOR ACCEPTANCE CORPORATION, as Administrator
		
	By:	 	 /s/ Mark Kaczynski

	Name:	 	Mark Kaczynski
	Title:	 	President
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as Owner Trustee
		
	By:	 	 /s/ Dorri Costello

	Name:	 	Dorri Costello
	Title:	 	Assistant Vice President

  

					
		  	S-1	  	(Nissan 2013-C Administration Agreement)EX-10.1

 Exhibit 10.1 

PIONEER SOUTHWEST ENERGY PARTNERS L.P. 

2008 LONG TERM INCENTIVE PLAN 

SECTION 1. Purpose of the Plan. 

The Pioneer Southwest Energy Partners L.P. 2008 Long Term Incentive Plan (the “Plan”) has been adopted by Pioneer Natural Resources
GP LLC, a Delaware limited liability company (the “Company”), the general partner of Pioneer Southwest Energy Partners L.P., a Delaware limited partnership (the “Partnership”). The Plan is intended to promote the interests of the
Partnership and the Company by providing to Employees, Consultants and Directors incentive compensation awards based on Units to encourage superior performance. The Plan is also contemplated to enhance the ability of the Company and its Affiliates
to attract and retain the services of individuals who are essential for the growth and profitability of the Company, the Partnership and their Affiliates and to encourage them to devote their best efforts to advancing the business of the Company,
the Partnership and their Affiliates. 
 SECTION 2. Definitions. 

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

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies
of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “Award” means an Option, Unit
Appreciation Right, Restricted Unit, Phantom Unit, an Other Unit-Based Award, or a Unit Award granted under the Plan, and includes any tandem DERs granted with respect to a Phantom Unit. 

“Award Agreement” means the written or electronic agreement by which an Award shall be evidenced. 

“Board” means the Board of Directors of the Company. 

“Change of Control” means, and shall be deemed to have occurred upon, one or more of the following events: 

(i) any transaction resulting in the Partnership (or its successor or survivor by way of merger, consolidation, or some other transaction, or a
parent or subsidiary thereof) ceasing to be an Affiliate of Pioneer (or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof); 

(ii) the limited partners of the Partnership approve, in one transaction or a series of transactions, a plan of complete liquidation of the
Partnership; 

  
 1 

 (iii) the sale or other disposition by either the Company or the Partnership of all or
substantially all of its assets in one or more transactions to any Person other than the Company or an Affiliate of the Company; 
 (iv) a
transaction resulting in a Person other than Pioneer (or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof) or an Affiliate thereof being the general partner of the Partnership
(or its successor or survivor by way of merger, consolidation, or some other transaction, or a parent or subsidiary thereof); or 
 (v) any
other event specified as a “Change in Control” in an applicable Award Agreement. 
 Notwithstanding the foregoing, the Committee
may elect in an Award Agreement to specify a different definition of “Change in Control” for purposes of complying with Section 409A of the Code or for any other reason as deemed appropriate by the Committee. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means the entity appointed to administer the Plan, which may be the Board, any compensation committee of the Board or
such other committee as may be appointed by the Board. 
 “Consultant” means an individual who renders consulting services to the
Company, the Partnership or an Affiliate of either. 
 “DER” means a contingent right, granted in tandem with a specific Phantom
Unit, to receive with respect to each Phantom Unit subject to the Award an amount in cash, Units and/or Phantom Units, as determined by the Committee in its sole discretion, equal in value to the distributions made by the Partnership with respect to
a Unit during the period such Award is outstanding. 
 “Director” means a member of the Board who is not an Employee or a
Consultant (other than in that individual’s capacity as a Director). 
 “Employee” means an employee of the Company or an
Affiliate of the Company. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means the closing sales price of a Unit on the principal national securities exchange or other market in which
trading in Units occurs on the most recent date on which Units were publicly traded preceding the date with respect to which the Fair Market Value determination is made as reported in The Wall Street Journal (or other reporting service approved by
the Committee). If Units are not traded on a national securities exchange or other market at the time a determination of fair market value is required to be made hereunder, the determination of fair market value shall be made in good faith by the
Committee. 
 “Option” means an option to purchase Units granted under the Plan. 

“Other Unit-Based Award” means an award granted pursuant to Section 6(d) of the Plan. 

  
 2 

 “Participant” means an Employee, Consultant or Director granted an Award under the
Plan. 
 “Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust,
unincorporated organization, association, governmental agency or political subdivision thereof or other entity. 
 “Phantom Unit”
means a notional unit granted under the Plan that entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash, as determined by the Committee in its sole discretion, equal to the Fair Market Value of a Unit. 

“Pioneer” means Pioneer Natural Resources Company, a Delaware corporation. 

“Restricted Period” means the period established by the Committee with respect to an Award during which the Award remains subject to
forfeiture and is not either exercisable by or payable to the Participant, as the case may be. 
 “Restricted Unit” means a Unit
granted under the Plan that is subject to a Restricted Period. 
 “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the
Exchange Act or any successor rule or regulation thereto as in effect from time to time. 
 “SEC” means the Securities and
Exchange Commission or any successor thereto. 
 “UDR” means a distribution made by the Partnership with respect to a Restricted
Unit. 
 “Unit” means a common unit of the Partnership. 

“Unit Appreciation Right” or “UAR” means a contingent right that entitles the holder to receive, in cash or Units, as
determined by the Committee in its sole discretion, an amount equal to the excess of the Fair Market Value of a Unit on the exercise date of the UAR over the exercise price of the UAR. 

“Unit Award” means a grant of a Unit that is not subject to a Restricted Period. 

SECTION 3. Administration. 

A majority of the Committee shall constitute a quorum, and the acts of the members of the Committee who are present at any meeting thereof at
which a quorum is present, or acts unanimously approved by the members of the Committee in writing, shall be the acts of the Committee. Subject to the terms of the Plan and applicable law, and in addition to other express powers and authorizations
conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Units
to be covered by Awards; (iv) determine the terms and conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be vested, settled, exercised, canceled, or forfeited; (vi) interpret and
administer the Plan and any instrument or agreement relating to an Award made 

  
 3 

 
under the Plan; (vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and
(viii) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the
Plan or an Award Agreement in such manner and to such extent as the Committee deems necessary or appropriate. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under or with
respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company, the Partnership, any Affiliate, any Participant, and
any beneficiary of any Award. 
 SECTION 4. Units. 

(a) Limits on Units Deliverable. Subject to adjustment as provided in Section 4(c), the number of Units that may be delivered with
respect to Awards under the Plan will not exceed 3,000,000 Units. Units withheld from an Award to either satisfy the Participant’s, the Company’s or an Affiliate’s tax withholding obligations with respect to the Award or pay the
exercise price of an Award shall not be considered to be Units delivered under the Plan for this purpose. If any Award is forfeited, cancelled, exercised, paid, or otherwise terminates or expires without the actual delivery of Units pursuant to such
Award (the grant of Restricted Units is not a delivery of Units for this purpose), the Units subject to such Award shall again be available for Awards under the Plan. There shall not be any limitation on the number of Awards that may be paid in
cash. 
 (b) Sources of Units Deliverable Under Awards. Any Units delivered pursuant to an Award shall consist, in whole or in part,
of Units acquired in the open market, from any Affiliate, the Partnership or any other Person, or any combination of the foregoing, as determined by the Committee in its discretion. 

(c) Anti-dilution Adjustments. With respect to any “equity restructuring” event that could result in an additional
compensation expense to the Company or the Partnership pursuant to the provisions of Statement of Financial Accounting Standards No. 123 (“FAS 123R”) if adjustments to Awards with respect to such event were discretionary, the
Committee shall equitably adjust the number and type of Units covered by each outstanding Award and the terms and conditions, including the exercise price and performance criteria (if any), of such Award to equitably reflect such restructuring event
and shall adjust the number and type of Units (or other securities or property) with respect to which Awards may be granted after such event. With respect to any other similar event that would not result in a FAS 123R accounting charge if the
adjustment to Awards with respect to such event were subject to discretionary action, the Committee shall have complete discretion to adjust Awards in such manner as it deems appropriate with respect to such other event. In the event the Committee
makes any adjustment pursuant to the foregoing provisions of this Section 4(c), the Committee shall make a corresponding and proportionate adjustment with respect to the maximum number of Units that may be delivered with respect to Awards under
the Plan as provided in Section 4(a) and the kind of Units or other securities available for grant under the Plan. 
 SECTION 5.
Eligibility. 
 Any Employee, Consultant or Director shall be eligible to be designated a Participant by the Committee and receive an
Award under the Plan. 

  
 4 

 SECTION 6. Awards. 

(a) Options and UARs. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Options
and/or UARs shall be granted, the number of Units to be covered by each Option or UAR, the exercise price therefor, the Restricted Period and other conditions and limitations applicable to the exercise of the Option or UAR, including the following
terms and conditions and such additional terms and conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 

(i) Exercise Price. The exercise price per Unit purchasable under an Option or subject to a UAR shall be determined by
the Committee at the time the Option or UAR is granted but may not be less than the Fair Market Value of a Unit as of the date of grant of the Option or UAR. 

(ii) Time and Method of Exercise. The Committee shall determine the exercise terms and the Restricted Period with
respect to an Option or UAR grant, which may include, without limitation, a provision for accelerated vesting upon the achievement of specified performance goals or other events, and the method or methods by which payment of the exercise price with
respect to an Option may be made or deemed to have been made, which may include, without limitation, cash, check acceptable to the Company, withholding Units from the Award, a “cashless-broker” exercise through procedures approved by the
Company, or any combination of the above methods, having a Fair Market Value on the exercise date equal to the relevant exercise price. 

(iii) Forfeitures. Except as otherwise provided in the terms of the Option or UAR grant, upon termination of a
Participant’s employment with or consulting services to the Company and its Affiliates or membership as a Director, whichever is applicable, for any reason during the applicable Restricted Period, all unvested Options and UARs shall be
forfeited by the Participant. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Options or UARs. 

(b) Restricted Units and Phantom Units. The Committee shall have the authority to determine the Employees, Consultants and Directors to
whom Restricted Units and Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such Participant, the Restricted Period, the conditions under which the Restricted Units or Phantom Units may become
vested or forfeited and such other terms and conditions as the Committee may establish with respect to such Awards. 
 (i)
DERs. To the extent provided by the Committee, in its discretion, a grant of Phantom Units may include a tandem DER grant, which may provide that such DERs shall be paid directly to the Participant, be credited to a bookkeeping account (with
or without interest in the discretion of the Committee), be “reinvested” in Restricted Units or additional Phantom Units and be subject to the same or different vesting restrictions as the tandem Phantom Unit Award, or be subject to such
other provisions or restrictions as determined by the Committee in its discretion. Absent a contrary provision in the Award Agreement, upon a distribution with respect to a Unit, DERs equal in value to such distribution shall be paid promptly to the
Participant in cash without vesting restrictions. 

  
 5 

 (ii) UDRs. To the extent provided by the Committee, in its discretion, a
grant of Restricted Units may provide that the distributions made by the Partnership with respect to the Restricted Units shall be subject to the same forfeiture and other restrictions as the Restricted Unit and, if restricted, such distributions
shall be held, without interest, until the Restricted Unit vests or is forfeited with the UDR being paid or forfeited at the same time, as the case may be. In addition, the Committee may provide that such distributions be used to acquire additional
Restricted Units for the Participant. Such additional Restricted Units may be subject to such vesting and other terms as the Committee may prescribe. Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid promptly to the
holder of the Restricted Unit without vesting restrictions. 
 (iii) Forfeitures. Except as otherwise provided in the
terms of the applicable Award Agreement, upon termination of a Participant’s employment with or consulting services to the Company and its Affiliates or membership as a Director, whichever is applicable, for any reason during the applicable
Restricted Period, all outstanding, unvested Restricted Units and Phantom Units awarded the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with
respect to a Participant’s Restricted Units and/or Phantom Units. 
 (iv) Lapse of Restrictions. 

(A) Phantom Units. Upon or as soon as reasonably practical following the vesting of each Phantom Unit, subject to the
provisions of Section 8(b), the Participant shall be entitled to settlement of such Phantom Unit and shall receive from the Company either one Unit or an amount in cash equal to the Fair Market Value of a Unit, as determined by the Committee in
its discretion. 
 (B) Restricted Units. Upon or as soon as reasonably practical following the vesting of each
Restricted Unit, subject to satisfying the tax withholding obligations of Section 8(b), the Participant shall be entitled to have the restrictions removed from his or her Award so that the Participant then holds an unrestricted Unit. 

(c) Unit Awards. Unit Awards may be granted under the Plan to such Employees, Consultants and/or Directors and in such amounts as the
Committee, in its discretion, may select. 
 (d) Other Unit-Based Awards. Other Unit-Based Awards may be granted under the Plan
to such Employees, Consultants and/or Directors as the Committee, in its discretion, may select. An Other Unit-Based Award shall be an award denominated or payable in, valued in or otherwise based on or related to Units, in whole or in part. The
Committee shall determine the terms and conditions of any such Other Unit-Based Award. Upon or as soon as reasonably practical following vesting, an Other Unit-Based Award may be settled, as determined by the Committee in its sole discretion, in
cash, Units (including Restricted Units) or any combination thereof as provided in the applicable Award Agreement. 

  
 6 

 (e) General. 

(i) Awards May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either
alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of the Company or any Affiliate. Awards granted in addition to or in tandem with other Awards or awards
granted under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(ii) Limits on Transfer of Awards. 

(A) Except as provided in Paragraph (C) below, each Option and Unit Appreciation Right shall be exercisable only by the
Participant during the Participant’s lifetime, or by the person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. 

(B) Except as provided in Paragraph (C) below, no Award and no right under any such Award may be assigned, alienated,
pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company, the Partnership or
any Affiliate. 
 (C) To the extent specifically provided by the Committee with respect to an Option or Unit Appreciation
Right, an Option or Unit Appreciation Right may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities or on such terms and conditions as the Committee may
from time to time establish. 
 (iii) Term of Awards. The term of each Award shall be for such period as may be
determined by the Committee. 
 (iv) Issuance of Units. The Units purchased or delivered pursuant to an Award may be
evidenced in any manner deemed appropriate by the Committee in its sole discretion, including but not limited to, in the form of a certificate issued in the name of the Participant or by book entry, electronic or otherwise, subject to such stop
transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Units or other securities are then listed, and any applicable
federal or state laws, and the Committee may cause a legend or legends to be inscribed on any certificates to make appropriate reference to such restrictions. 

(v) Consideration for Grants. Awards may be granted for such consideration, including services, as the Committee shall
determine. 
 (vi) Delivery of Units or other Securities and Payment by Participant of Consideration. Notwithstanding
anything in the Plan or any Award Agreement to the contrary, delivery of Units pursuant to the exercise, vesting and/or settlement of an Award may be deferred for any period during which, in the good faith determination of

  
 7 

 
the Committee, the Company is not reasonably able to obtain Units to deliver pursuant to such Award without violating applicable law or the applicable rules or regulations of any governmental
agency or authority or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement (including, without
limitation, any exercise price or tax withholding) is received by the Company. 
 SECTION 7. Amendment and Termination. 

Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan and Awards. Except as otherwise required by the rules of the principal securities exchange on which the Units
are traded, by the Code or by the Exchange Act, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner, including increasing the number of Units available for Awards under the Plan, without the consent
of any partner, Participant, other holder or beneficiary of an Award, or any other Person. Notwithstanding the foregoing, the Committee may waive any conditions or rights under, amend any terms of, or alter any Award theretofore granted, provided no
change, other than pursuant to Section 7(b) below, in any Award shall materially reduce the rights or benefits of a Participant with respect to an Award without the consent of such Participant. 

(b) Actions Upon the Occurrence of Certain Events. Upon the occurrence of a Change of Control; a recapitalization, reorganization,
merger, consolidation, combination, exchange or other relevant change in capitalization of or involving the Partnership; any change in applicable law or regulation affecting the Plan or Awards thereunder; or any change in accounting principles
affecting the financial statements of the Partnership, the Committee, in its sole discretion, without the consent of any Participant or holder of the Award, and on such terms and conditions as it deems appropriate, may take any one or more of the
following actions in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or an outstanding Award: 

(i) provide for either (A) the cancellation and termination of any Award in exchange for an amount of cash, other
property, or securities, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights or if Participant were a unitholder as of the date of the occurrence of such event
(and, for the avoidance of doubt, if as of the date of the occurrence of such transaction or event the Committee determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the
Participant’s rights, then such Award may be terminated by the Company without payment) or (B) the replacement of such Award with or the conversion of such Award into cash or other securities, rights or property selected by the Committee
in its sole discretion; provided, that the Committee will not take any action that would result in a Participant becoming subject to the adverse tax consequences imposed by a violation of section 409A of the Code as a result of such action; 

(ii) provide that such Award be assumed by the successor or survivor entity, or a parent or subsidiary thereof, or be exchanged
for similar options, rights or awards covering the equity of the successor or survivor, or a parent or subsidiary thereof, or cash or other property with appropriate adjustments as to the number and kind of equity

  
 8 

 
interests or cash or other property and prices, provided, however, in the discretion of the Committee, the vesting schedule applicable to such Award may be retained; provided, that the Committee
will not take any action that would result in a Participant becoming subject to the adverse tax consequences imposed by a violation of section 409A of the Code as a result of such action; 

(iii) make adjustments in the number and type of Units (or other securities or property) subject to outstanding Awards, and in
the number and kind of outstanding Awards or in the terms and conditions of (including the exercise price), and the vesting and performance criteria included in, outstanding Awards, or both; 

(iv) provide that, such Award shall be exercisable or payable, notwithstanding anything to the contrary in the Plan or the
applicable Award Agreement; 
 (v) provide that, such Award shall be fully vested and/or nonforfeitable; and 

(vi) provide that the Award cannot be exercised or become payable after such event, i.e., shall terminate upon such event. 

Notwithstanding the foregoing, with respect to an above event that is an “equity restructuring” event that would be subject to a
compensation expense pursuant FAS 123R, the provisions in Section 4(c) shall control to the extent they are in conflict with the discretionary provisions of this Section 7. 

SECTION 8. General Provisions. 

(a) No Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 
 (b)
Tax Withholding. Unless other arrangements have been made that are acceptable to the Company, the Company or any Affiliate is authorized to withhold from any Award, from any payment due or transfer made under any Award or from any
compensation or other amount owing to a Participant the amount (in cash, Units, Units that would otherwise be issued pursuant to such Award or other property) of any applicable taxes payable in respect of the grant or settlement of an Award, its
exercise, the lapse of restrictions thereon, or any other payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of the Company to satisfy its withholding obligations for the payment of
such taxes. 
 (c) No Right to Employment or Services. The grant of an Award shall not be construed as giving a Participant the right
to be retained in the employ of the Company or any Affiliate, to continue consulting services or to remain as a Director, as applicable. Furthermore, the Company or an Affiliate may at any time dismiss a Participant from employment or consulting
free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan, any Award Agreement or other agreement. 

(d) Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be
determined in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. 

  
 9 

 (e) Severability. If any provision of the Plan or any Award is or becomes or is deemed to
be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the
applicable law or, if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award and the
remainder of the Plan and any such Award shall remain in full force and effect. 
 (f) Other Laws. The Committee may refuse to issue
or transfer any Units or other consideration under an Award if, in its sole discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the principal
securities exchange on which the Units are then traded, or entitle the Partnership or an Affiliate to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or
beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. 

(g) No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind
or a fiduciary relationship between the Company or any participating Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any participating Affiliate pursuant to an
Award, such right shall be no greater than the right of any general unsecured creditor of the Company or any participating Affiliate. 
 (h)
No Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred
in lieu of any fractional Units or whether such fractional Units or any rights thereto shall be terminated or otherwise eliminated with or without consideration. 

(i) Headings. Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 

(j) Facility of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the judgment of the
Committee, is unable to manage properly his financial affairs, may be paid to the legal representative of such individual, or may be applied for the benefit of such individual in any manner that the Committee may select, and the Company shall be
relieved of any further liability for payment of such amounts. 
 (k) Participation by Affiliates. In making Awards to Employees
employed by an entity other than the Company, the Committee shall be acting on behalf of the Affiliate, and to the extent the Partnership has an obligation to reimburse the Company for compensation paid for services rendered for the benefit of the
Partnership, such payments or reimbursement payments may be made by the Partnership directly to the Affiliate, and, if made to the Company, shall be received by the Company as agent for the Affiliate. 

  
 10 

 (l) Gender and Number. Words in the masculine gender shall include the feminine gender,
the plural shall include the singular and the singular shall include the plural. 
 (m) Compliance with Section 409A. Nothing in
the Plan or any Award Agreement shall operate or be construed to cause the Plan or an Award to fail to comply with the requirements of Section 409A of the Code. The applicable provisions of Section 409A the Code and the regulations
thereunder are hereby incorporated by reference and shall control over any Plan or Award Agreement provision in conflict therewith. 

SECTION 9. Term of the Plan. 

The Plan shall be effective on the date immediately preceding the close of the initial public offering of Units and shall continue until the
earliest of (i) the date terminated by the Board, (ii) all Units available under the Plan have been paid to Participants, or (iii) the 10th anniversary of the date the Plan is approved by the Company. However, any Award granted prior
to such termination, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date. 

  
 11

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