Document:

First Amendment to Credit Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 This FIRST AMENDMENT TO CREDIT AGREEMENT (this
“Amendment”) is made as of July 24, 2007 by and among MATERIAL SCIENCES CORPORATION, a Delaware corporation (the “Borrower”), LASALLE BANK NATIONAL ASSOCIATION, a national banking association, administrative
agent (the “Agent”), and the Lenders described in the Credit Agreement (as hereinafter defined). 
 RECITALS 

 A. The Agent, the Banks, and the Borrower entered into an Amended and Restated Loan and Security Agreement dated as of April 30, 2004
(as amended, restated, supplemented or otherwise modified through the date hereof, the “Loan Agreement”). 
 B. The
parties to the Loan Agreement desire to enter into this Amendment for the purpose of making certain amendments to the Loan Agreement on the terms and conditions set forth herein. 
 AGREEMENT 
 In consideration of the matters set forth in the recitals and
the covenants and provisions herein set forth, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledge, the parties agree as follows: 
 1. Definitions. Capitalized terms used but not defined herein are used as defined in the Loan Agreement. 
 2. Amendment. Upon the First Amendment Effective Date (as defined herein), Section 1.2 of the Loan Agreement is hereby amended by deleting the reference to “October 11, 2007” in the
definition of “Termination Date” and replacing it with a reference to “April 11, 2008”. 
 3. Representations and
Warranties. To induce the Agent and the Lenders to enter into this Amendment, the Borrower represents and warrants to the Agent and the Lenders as follows: 
 (a) Borrower is a corporation, validly existing and in good standing under the laws of the State of Delaware; each Subsidiary is validly existing and in good standing under the laws of the jurisdiction of its
organization; and each Loan Party is duly qualified to do business in each jurisdiction where, because of the nature of its activities or properties, such qualification is required, except for such jurisdictions where the failure to so qualify could
not reasonably be expected to have Material Adverse Effect 
 (b) Borrower is duly authorized to execute and deliver this Amendment and
perform its obligations hereunder. The execution, delivery and performance by Borrower of this Amendment do not and will not (a) require any consent or approval of any governmental agency or authority (other than any consent or approval which
has been obtained and is in full force and effect), 

 
(b) conflict with (i) any provision of law, (ii) the charter, by-laws or other organizational documents of any Loan Party or (iii) any
agreement, indenture, instrument or other document, or any judgment, order or decree, which is binding upon any Loan Party or any of its respective properties or (c) require, or result in, the creation or imposition of any Lien on any asset of
any Loan Party (other than Liens in favor of the Agent created pursuant to the Collateral Documents). 
 (c) This Amendment is the legal,
valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of creditors’ rights generally and to general principles of
equity. 
 (d) The representations and warranties in the Loan Documents (including but not limited to those set forth in Section 10 of
the Loan Agreement) are true and correct in all material respects with the same effect as though made on and as of the date of this Amendment (except to the extent stated to relate to a specific earlier date, in which case such representations and
warranties shall be true and correct as of such earlier date) and no Event of Default or Unmatured Event of Default exists or would result from the execution and delivery of this Amendment. 
 4. Affirmation. Except as expressly amended hereby, the Loan Agreement and the other Loan Documents are and shall continue in full force
and effect and Borrower hereby fully ratifies and affirms each Loan Document to which it is a party. Reference in any of this Amendment, the Loan Agreement or any other Loan Document to the Loan Agreement shall be a reference to the Loan Agreement
as amended hereby and as further amended, modified, restated, supplemented or extended from time to time. This Amendment shall constitute a Loan Document for purposes of the Loan Agreement and the other Loan Documents. 
 5. References to Loan Agreement; Effect on Loan Documents. From and after the date hereof, all references in the Loan
Documents to the Loan Agreement shall be deemed to be references to the Loan Agreement as amended hereby. This Amendment is limited to the specific purpose for which it is granted and, except as specifically set forth above (a) shall not be
construed as a consent, waiver amendment or other modification with respect to any term, condition or other provision of any Loan Document and (b) each of the Loan Documents shall remain in full force and effect and are each hereby ratified and
confirmed. 
 6. Conditions to Amendment. This Amendment is subject to satisfaction in full of all of the following conditions
precedent, each of which shall be in form and substance satisfactory to the Agent and the Lenders: 
 (a) Amendment. Borrower and the
Required Lenders shall have executed and delivered this Amendment. 
 (b) Acknowledgement of Guarantors. Each Guarantor shall have
acknowledged this Amendment in the form of Exhibit A hereto. 
  

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 (c) Amendment Fee. The Agent shall have received payment of an amendment fee of $5,000 to be
shared ratably among the Lenders. 
 (d) Other. Receipt by the Agent of such other documents, instruments and certificates as the
Agent or any Lender may reasonably request. 
 The date upon which all of the foregoing events have occurred is the “First Amendment
Effective Date.” 
 7. Further Assurances. The Borrower agrees to execute and deliver in form and substance
satisfactory to the Lenders such further documents, instruments, amendments, financing statements and to take such further action, as may be necessary from time to time to perfect and maintain the liens and security interests created by the Loan
Documents, as amended hereby. 
 8. Counterparts. This Amendment may be executed in two or more counterparts, each of which
shall constitute an original, but all of which when taken together shall constitute one instrument. Delivery of an executed counterpart of this Amendment by facsimile shall be effective as delivery of an original counterpart. 
 9. Headings. The headings and captions of this Amendment are for the purposes
of reference only and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. 
 10. APPLICABLE LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF ILLINOIS WITHOUT
GIVING EFFECT TO ILLINOIS CHOICE OF LAW DOCTRINE. 
 11. Fees. Pursuant to Section 16.5 of the Loan Agreement, the
Borrower agrees to pay on demand all reasonable out-of-pocket costs and expenses of the Agent (including Attorney Costs) in connection with the preparation, execution and delivery of this Amendment and the transactions contemplated hereby.

 [signature pages follow] 
  

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 The parties hereto have caused this Amendment to be executed by their duly authorized officers, all as of
the day and year first above written. 
  

			
	MATERIAL SCIENCES CORPORATION
		
	By:	 	 /s/ James M. Froisland

	Name:	 	James M. Froisland
	Its:	 	Senior Vice President, Chief Financial Officer, Chief Information Officer and Corporate Secretary
	
	 LASALLE BANK NATIONAL ASSOCIATION,
 as the
Agent and as a Lender

		
	By:	 	 /s/ Erin M. Frey

	Name:	 	Erin M. Frey
	Its:	 	Vice President
	
	 THE NORTHERN TRUST COMPANY,
 as a
Leader

		
	By:	 	 /s/ Benjamin P. Livermore

	Name:	 	Benjamin P. Livermore
	Its:	 	Commercial Banking Officer

 Signature Page to First Amendment 

 EXHIBIT A 
 ACKNOWLEDGMENT AND REAFFIRMATION 
 The undersigned each, hereby ratifies and reaffirms the
terms of that certain Consolidated Amended and Restated Guaranty and Security Agreement dated as of April 30, 2004 (the “Guaranty”) between the undersigned and LaSalle Bank National Association, as administrative agent, and agrees
that the Guaranty continues in full force and effect in. accordance with the terms thereof following the execution and delivery by Material Sciences Corporation, a Delaware corporation, of the First Amendment to Credit Agreement dated as of the date
hereof. 
 Each of the undersigned represents and warrants to the Agent and each Lender that the Guaranty is the valid and binding obligation
of the undersigned, enforceable against the undersigned in accordance with its terms and that the undersigned has no claims or defenses to the enforcement of the rights and remedies of the Agent under the Guaranty. 
  

			
	IN WITNESS WHEREOF, this Acknowledgement and Reaffirmation has been executed and delivered as of the 24 day of July, 2007.
	
	MSC LAMINATES AND COMPOSITES INC.
		
	By:	 	 /s/ James M. Froisland

	Name:	 	James M. Froisland
	Its:	 	SVP, CFO, CIO, Corp. Secretary
	
	MSC PRE FINISH METALS (EGV) INC.
		
	By:	 	 /s/ James M. Froisland

	Name:	 	James M. Froisland
	Its:	 	SVP, CFO, CIO, Corp. Secretary
	
	MSC WALBRIDGE COATINGS INC,
		
	By:	 	 /s/ James M. Froisland

	Name:	 	James M. Froisland
	Its:	 	SVP, CFO, CIO, Corp. Secretary

 Signature Page to Acknowledgement and Reaffirmation 

			
	 MSC PRE FINISH METALS (MV) INC.

		
	 By:
	 	 /s/ James M. Froisland

	 Name:
	 	James M. Froisland
	 Its:
	 	SVP, CFO, CIO, Corp. Secretary
	
	MSC LAMINATES & COMPOSITES (EGV) INC.
		
	 By:
	 	 /s/ James M. Froisland

	 Name:
	 	James M. Froisland
	 Its:
	 	SVP, CFO, CIO, Corp. Secretary

 Signature Page to Acknowledgement and ReaffirmationPromissory Note

 Exhibit 10.1 
 PROMISSORY NOTE 
  

			
	 $28,000,000.00
	 	June 30, 2008

 Roanoke Gas Company 519 Kimball Avenue Roanoke, Virginia 24016 (Hereinafter referred to as “Borrower”)

 Wachovia Bank, National Association 
 Roanoke, Virginia 24011
(Hereinafter referred to as “Bank”) 
 Borrower promises to pay to the order of Bank, in lawful money of the United States of America by mailing to
the address specified hereinafter or wherever else Bank may specify, the sum of Twenty-Eight Million and No/100 Dollars ($28,000,000.00) or such sum as may be advanced and outstanding from time to time, with interest on the unpaid principal balance
at the rate and on the terms provided in this Promissory Note (including all renewals, extensions or modifications hereof, this “Note”). 
 RENEWAL/MODIFICATION/INCREASE. This Promissory Note renews, extends, increases and/or modifies that certain Promissory Note dated March 28, 2008, in the original amount of $15,000,000.00, as renewed and/or extended from time to
time (the “Original Promissory Note”). This Promissory Note is not a novation to the extent of the principal balance currently outstanding under the Original Promissory Note. 
 LINE OF CREDIT. Borrower may borrow, repay and reborrow, and, upon the request of Borrower, Bank shall advance and readvance under this Note from time to time until the maturity hereof (each an
“Advance” and together the “Advances”), so long as the total principal balance outstanding under this Note at any one time does not exceed (i) $5,000,000.00 from the date of this Note through and including July 15,
2008; (ii) beginning July 16, 2008 through and including September 15, 2008, the total principal amount available for lending under this Note shall be $15,000,000.00; (iii) beginning September 16, 2008 through and including
November 15, 2008, the principal amount available for lending under this Note shall be $26,000,000.00; (iv) beginning November 16, 2008 through and including February 15, 2009, the principal amount available for lending under
this Note shall be $28,000,000.00; and (v) beginning February 16, 2009 through and including March 31, 2009, the principal amount available for lending under this Note shall be $15,000,000.00, subject to the limitations described in
any loan agreement to which this Note is subject. Bank’s obligation to make Advances under this Note shall terminate if Borrower is in Default. As of the date of each proposed Advance, Borrower shall be deemed to represent that each
representation made in the Loan Documents is true as of such date. 
 If Borrower subscribes to Bank’s cash management services and such services are
applicable to this line of credit, the terms of such service shall control the manner in which funds are transferred between the applicable demand deposit account and the line of credit for credit or debit to the line of credit. 
 USE OF PROCEEDS. Borrower shall use the proceeds of the loan(s) evidenced by this Note for the commercial purposes of Borrower, as follows: finance inventory and
accounts receivable and for the refinance of a private placement in the amount of $5,000,000.00. 
 INTEREST RATE. Interest shall accrue on the unpaid
principal balance of this Note from the date hereof at the LIBOR Market Index Rate plus 0.50%, as that rate may change from day to day in accordance with changes in the LIBOR Market Index Rate (“Interest Rate”). “LIBOR Market Index
Rate”, for any day, means the rate for 1 month U.S. dollar deposits as reported on Telerate Successor Page 3750 as of 11:00 a.m., London time, on such day, or if such day is not a London business day, then the immediately preceding London
business day (or if not so reported, then as determined by Bank from another recognized source or interbank quotation). 
 DEFAULT RATE. In addition
to all other rights contained in this Note, if a Default (as defined herein) occurs and as long as a Default continues, all outstanding Obligations, other than Obligations under any swap agreements (as defined in 11 U.S.C. § 101, as in effect
from time to time) between Borrower and Bank or its affiliates, shall bear interest at the Interest Rate plus 3% (“Default Rate”). The Default Rate shall also apply from acceleration until the Obligations or any judgment thereon is paid in
full. 

 INTEREST AND FEE(S) COMPUTATION (ACTUAL/360). Interest and fees, if any, shall be computed on the basis of a
360-day year for the actual number of days in the applicable period (“Actual/360 Computation”). The Actual/360 Computation determines the annual effective interest yield by taking the stated (nominal) rate for a year’s period and then
dividing said rate by 360 to determine the daily periodic rate to be applied for each day in the applicable period. Application of the Actual/360 Computation produces an annualized effective rate exceeding the nominal rate. 
 REPAYMENT TERMS. This Note shall be due and payable in consecutive monthly payments of accrued interest only, commencing on July 1, 2008, and continuing on
the same day of each month thereafter until fully paid. In any event, all principal and accrued interest shall be due and payable on March 31, 2009. 
 APPLICATION OF PAYMENTS. Monies received by Bank from any source for application toward payment of the Obligations shall be applied to accrued interest and then to principal. If a Default occurs, monies may be applied to the
Obligations in any manner or order deemed appropriate by Bank. 
 If any payment received by Bank under this Note or other Loan Documents is rescinded,
avoided or for any reason returned by Bank because of any adverse claim or threatened action, the returned payment shall remain payable as an obligation of all persons liable under this Note or other Loan Documents as though such payment had not
been made. 
 DEFINITIONS. Loan Documents. The term “Loan Documents”, as used in this Note and the other Loan Documents, refers to all
documents executed in connection with or related to the loan evidenced by this Note and any prior notes which evidence all or any portion of the loan evidenced by this Note, and any letters of credit issued pursuant to any loan agreement to which
this Note is subject, any applications for such letters of credit and any other documents executed in connection therewith or related thereto, and may include, without limitation, a commitment letter that survives closing, a loan agreement, this
Note, guaranty agreements, security agreements, security instruments, financing statements, mortgage instruments, any renewals or modifications, whenever any of the foregoing are executed, but does not include swap agreements (as defined in 11
U.S.C. § 101, as in effect from time to time). Obligations. The term “Obligations”, as used in this Note and the other Loan Documents, refers to any and all indebtedness and other obligations under this Note, all other
obligations under any other Loan Document(s), and all obligations under any swap agreements (as defined in 11 U.S.C. § 101, as in effect from time to time) between Borrower and Bank, or its affiliates, whenever executed. Certain Other
Terms. All terms that are used but not otherwise defined in any of the Loan Documents shall have the definitions provided in the Uniform Commercial Code. 
 LATE CHARGE. If any payments are not timely made, Borrower shall also pay to Bank a late charge equal to 5% of each payment past due for 8 or more days. This late charge shall not apply to payments due at maturity or by acceleration
hereof, unless such late payment is in an amount not greater than the highest periodic payment due hereunder. 
 Acceptance by Bank of any late payment
without an accompanying late charge shall not be deemed a waiver of Bank’s right to collect such late charge or to collect a late charge for any subsequent late payment received. ATTORNEYS’ FEES AND OTHER COLLECTION COSTS. Borrower
shall pay all of Bank’s reasonable expenses actually incurred to enforce or collect any of the Obligations including, without limitation, reasonable arbitration, paralegals’, attorneys’ and experts’ fees and expenses, whether
incurred without the commencement of a suit, in any trial, arbitration, or administrative proceeding, or in any appellate or bankruptcy proceeding. 
 USURY. If at any time the effective interest rate under this Note would, but for this paragraph, exceed the maximum lawful rate, the effective interest rate under this Note shall be the maximum lawful rate, and any amount received by
Bank in excess of such rate shall be applied to principal and then to fees and expenses, or, if no such amounts are owing, returned to Borrower. 
 DEFAULT. If any of the following occurs, a default (“Default”) under this Note shall exist: Nonpayment; Nonperformance. The failure of timely payment or performance of the Obligations or Default under this Note or
any other Loan Documents. False Warranty. A warranty or representation made or deemed made in the Loan Documents or furnished Bank in connection with the loan evidenced by this Note proves materially false, or if of a continuing nature,
becomes materially false. Cross Default. At Bank’s option, any default in payment or performance of any obligation under any other loans, contracts or agreements of Borrower, any Subsidiary or Affiliate of Borrower, any general partner
of or the holder(s) of the majority ownership interests of Borrower with Bank 

  

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or its affiliates (“Affiliate” shall have the meaning as defined in 11 U.S.C. § 101, as in effect from time to time, except that the term
“Borrower” shall be substituted for the term “Debtor” therein; “Subsidiary” shall mean any business in which Borrower holds, directly or indirectly, a controlling interest). Cessation; Bankruptcy. The death of,
appointment of a guardian for, dissolution of, termination of existence of, loss of good standing status by, appointment of a receiver for, assignment for the benefit of creditors of, or commencement of any bankruptcy or insolvency proceeding by or
against Borrower, its Subsidiaries or Affiliates, if any, or any general partner of or the holder(s) of the majority ownership interests of Borrower, or any party to the Loan Documents. Material Capital Structure or Business Alteration.
Without prior written consent of Bank, (i) a material alteration in the kind or type of Borrower’s business or that of Borrower’s Subsidiaries or Affiliates, if any; (ii) the sale of substantially all of the business or assets of
Borrower, any of Borrower’s Subsidiaries or Affiliates or any guarantor, or a material portion (10% or more) of such business or assets if such a sale is outside the ordinary course of business of Borrower, or any of Borrower’s
Subsidiaries or Affiliates or any guarantor, or more than 50% of the outstanding stock or voting power of or in any such entity in a single transaction or a series of transactions; (iii) the acquisition of substantially all of the business or
assets or more than 50% of the outstanding stock or voting power of any other entity; or (iv) should any Borrower or any of Borrower’s Subsidiaries or Affiliates or any guarantor enter into any merger or consolidation. Material Adverse
Change. Bank determines in good faith, in its sole discretion, that the prospects for payment or performance of the Obligations are impaired or there has occurred a material adverse change in the business or prospects of Borrower, financial or
otherwise. 
 REMEDIES UPON DEFAULT. If a Default occurs under this Note or any Loan Documents, Bank may at any time thereafter, take the following
actions: Bank Lien. Foreclose its security interest or lien against Borrower’s deposit accounts and investment property without notice. Acceleration Upon Default. Accelerate the maturity of this Note and, at Bank’s option,
any or all other Obligations, other than Obligations under any swap agreements (as defined in 11 U.S.C. § 101, as in effect from time to time) between Borrower and Bank, or its affiliates, which shall be due in accordance with and governed by
the provisions of said swap agreements; whereupon this Note and the accelerated Obligations shall be immediately due and payable; provided, however, if the Default is based upon a bankruptcy or insolvency proceeding commenced by or against Borrower
or any guarantor or endorser of this Note, all Obligations (other than Obligations under any swap agreement as referenced above) shall automatically and immediately be due and payable. Cumulative. Exercise any rights and remedies as provided
under the Note and other Loan Documents, or as provided by law or equity. 
 ANNUAL FINANCIAL STATEMENTS. Borrower shall deliver to Bank, within 90
days after the close of each fiscal year, unaudited management-prepared financial statements reflecting its operations during such fiscal year, including, without limitation, a balance sheet, profit and loss statement and statement of cash flows,
with supporting schedules and in reasonable detail, prepared in conformity with generally accepted accounting principles, applied on a basis consistent with that of the preceding year. If unaudited statements are required, such statements shall be
certified as to their correctness by a principal financial officer of Borrower. 
 FINANCIAL AND OTHER INFORMATION. Borrower shall deliver to Bank
such information as Bank may reasonably request from time to time, including without limitation, financial statements and information pertaining to Borrower’s financial condition. Such information shall be true, complete, and accurate.

 WAIVERS AND AMENDMENTS. No waivers, amendments or modifications of this Note and other Loan Documents shall be valid unless in writing and signed
by an officer of Bank. No waiver by Bank of any Default shall operate as a waiver of any other Default or the same Default on a future occasion. Neither the failure nor any delay on the part of Bank in exercising any right, power, or remedy under
this Note and other Loan Documents shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or remedy. 
 Except to the extent otherwise provided by the Loan Documents or prohibited by law, each Borrower and each other person liable under this Note waives presentment,
protest, notice of dishonor, demand for payment, notice of intention to accelerate maturity, notice of acceleration of maturity, notice of sale and all other notices of any kind. Further, each agrees that Bank may (i) extend, modify or renew
this Note or make a novation of the loan evidenced by this Note, and/or (ii) grant releases, compromises or indulgences with respect to any collateral securing this Note, or with respect to any Borrower or other person liable under this Note or
any other Loan Documents, all without notice to or consent of each Borrower and other such person, and without affecting the liability of each Borrower and other such person; provided, Bank may not extend, modify or renew this Note or make a
novation of the loan evidenced by this Note without the consent of the Borrower, or if there is more than one Borrower, without the consent of at least one Borrower; and further provided, if there is more than one Borrower, Bank may not enter into a
modification of this Note which increases the burdens of a Borrower without the consent of that Borrower. 
  

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 MISCELLANEOUS PROVISIONS. Assignment. This Note and the other Loan Documents shall inure to the benefit of and be
binding upon the parties and their respective heirs, legal representatives, successors and assigns. Bank’s interests in and rights under this Note and the other Loan Documents are freely assignable, in whole or in part, by Bank. In addition,
nothing in this Note or any of the other Loan Documents shall prohibit Bank from pledging or assigning this Note or any of the other Loan Documents or any interest therein to any Federal Reserve Bank. Borrower shall not assign its rights and
interest hereunder without the prior written consent of Bank, and any attempt by Borrower to assign without Bank’s prior written consent is null and void. Any assignment shall not release Borrower from the Obligations. Organization;
Powers. Borrower represents that Borrower (i) is (a) an adult individual and is sui juris, or (b) a corporation, general partnership, limited partnership, limited liability company or other legal entity, duly organized,
validly existing and in good standing under the laws of its state of organization, and is authorized to do business in each other jurisdiction wherein its ownership of property or conduct of business legally requires such organization (ii) has
the power and authority to own its properties and assets and to carry on its business as now being conducted and as now contemplated; and (iii) has the power and authority to execute, deliver and perform, and by all necessary action has
authorized the execution, delivery and performance of, all of its obligations under this Note and any other Loan Document to which it is a party. Compliance with Laws. Borrower represents that Borrower and any subsidiary and affiliate of
Borrower and any guarantor are in compliance in all respects with all federal, state and local laws, rules and regulations applicable to its properties, operations, business, and finances, including, without limitation, all applicable federal, state
and local laws and regulations intended to protect the environment; and the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), if applicable. None of Borrower, or any subsidiary or affiliate of Borrower or any guarantor
is a Sanctioned Person or has any of its assets in a Sanctioned Country or does business in or with, or derives any of its operating income from investments in or transactions with, Sanctioned Persons or Sanctioned Countries in violation of economic
sanctions administered by OFAC. The proceeds from the Loan will not be used to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Country. “OFAC” means the U.S.
Department of the Treasury’s Office of Foreign Assets Control. “Sanctioned Country” means a country subject to a sanctions program identified on the list maintained by OFAC and available at
http://www.treas.gov/offices/enforcement/ofac/programs/index.shtml, or as otherwise published from time to time. “Sanctioned Person” means (i) a person named on the list of Specially Designated Nationals or Blocked Persons maintained
by OFAC available at http://www.treas.gov/offices/enforcement/ofac/sdn/index.shtml, or as otherwise published from time to time, or (ii) (A) an agency of the government of a Sanctioned Country, (B) an organization controlled by a
Sanctioned Country, or (C) a person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC. Applicable Law; Conflict Between Documents. This Note and, unless otherwise provided in any other
Loan Document, the other Loan Documents shall be governed by and interpreted in accordance with federal law and, except as preempted by federal law, the laws of the state named in Bank’s address on the first page hereof without regard to that
state’s conflict of laws principles. If the terms of this Note should conflict with the terms of any loan agreement or any commitment letter that survives closing, the terms of this Note shall control. Borrower’s Accounts. Except as
prohibited by law, Borrower grants Bank a security interest in all of Borrower’s deposit accounts and investment property with Bank and any of its affiliates. Swap Agreements. All swap agreements (as defined in 11 U.S.C. § 101, as
in effect from time to time), if any, between Borrower and Bank or its affiliates are independent agreements governed by the written provisions of said swap agreements, which will remain in full force and effect, unaffected by any repayment,
prepayment, acceleration, reduction, increase or change in the terms of this Note, except as otherwise expressly provided in said written swap agreements, and any payoff statement from Bank relating to this Note shall not apply to said swap
agreements except as otherwise expressly provided in such payoff statement. Jurisdiction. Borrower irrevocably agrees to non-exclusive personal jurisdiction in the state named in the Bank’s address on the first page hereof.
Severability. If any provision of this Note or of the other Loan Documents shall be prohibited or invalid under applicable law, such provision shall be ineffective but only to the extent of such prohibition or invalidity, without invalidating
the remainder of such provision or the remaining provisions of this Note or other such document. Payments. All payments shall be mailed to Bank at Commercial Loan Services, P. O. Box 740502, Atlanta, GA 30374-0502; or other such address as
provided by Bank in writing. Notices. Any notices to Borrower shall be sufficiently given, if in writing and mailed or delivered to the Borrower’s address shown above or such other address as provided hereunder, and to Bank, if in
writing and mailed or delivered to Wachovia Bank, National Association, Mail Code VA7628, P. O. Box 13327, Roanoke, VA 24040 or Wachovia Bank, National Association, Mail Code VA7628, 10 South Jefferson Street, Roanoke, VA 24011 or such other address
as Bank may specify in writing from time to time. Notices to Bank must include the mail code. In the event that Borrower changes Borrower’s address 

  

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at any time prior to the date the Obligations are paid in full, Borrower agrees to promptly give written notice of said change of address by registered or
certified mail, return receipt requested, all charges prepaid. Plural; Captions. All references in the Loan Documents to Borrower, guarantor, person, document or other nouns of reference mean both the singular and plural form, as the case may
be, and the term “person” shall mean any individual, person or entity. The captions contained in the Loan Documents are inserted for convenience only and shall not affect the meaning or interpretation of the Loan Documents.
Advances. Bank may, in its sole discretion, make other advances which shall be deemed to be advances under this Note, even though the stated principal amount of this Note may be exceeded as a result thereof. Posting of Payments. All
payments received during normal banking hours after 2:00 p.m. local time at the address for payments set forth above shall be deemed received at the opening of the next banking day. Joint and Several Obligations. If there is more than one
Borrower, each is jointly and severally obligated together with all other parties obligated for the Obligations. Fees and Taxes. Borrower shall promptly pay all documentary, intangible recordation and/or similar taxes on this transaction
whether assessed at closing or arising from time to time. LIMITATION ON LIABILITY; WAIVER OF PUNITIVE DAMAGES. EACH OF THE PARTIES HERETO, INCLUDING BANK BY ACCEPTANCE HEREOF, AGREES THAT IN ANY JUDICIAL, MEDIATION OR ARBITRATION PROCEEDING
OR ANY CLAIM OR CONTROVERSY BETWEEN OR AMONG THEM THAT MAY ARISE OUT OF OR BE IN ANY WAY CONNECTED WITH THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY OTHER AGREEMENT OR DOCUMENT BETWEEN OR AMONG THEM OR THE OBLIGATIONS EVIDENCED HEREBY OR RELATED
HERETO, IN NO EVENT SHALL ANY PARTY HAVE A REMEDY OF, OR BE LIABLE TO THE OTHER FOR, (1) INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES OR (2) PUNITIVE OR EXEMPLARY DAMAGES. EACH OF THE PARTIES HEREBY EXPRESSLY WAIVES ANY RIGHT OR CLAIM TO
PUNITIVE OR EXEMPLARY DAMAGES THEY MAY HAVE OR WHICH MAY ARISE IN THE FUTURE IN CONNECTION WITH ANY SUCH PROCEEDING, CLAIM OR CONTROVERSY, WHETHER THE SAME IS RESOLVED BY ARBITRATION, MEDIATION, JUDICIALLY OR OTHERWISE. Patriot Act Notice. To
help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. For purposes of this section, account
shall be understood to include loan accounts. Final Agreement. This Note and the other Loan Documents represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous or subsequent agreements
of the parties. There are no unwritten agreements between the parties. 
 WAIVER OF JURY TRIAL. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF
BORROWER BY EXECUTION HEREOF AND BANK BY ACCEPTANCE HEREOF, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT EACH MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE,
THE LOAN DOCUMENTS OR ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONNECTION WITH THIS NOTE, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY WITH RESPECT HERETO. THIS PROVISION IS A
MATERIAL INDUCEMENT TO BANK TO ACCEPT THIS NOTE. EACH OF THE PARTIES AGREES THAT THE TERMS HEREOF SHALL SUPERSEDE AND REPLACE ANY PRIOR AGREEMENT RELATED TO ARBITRATION OF DISPUTES BETWEEN THE PARTIES CONTAINED IN ANY LOAN DOCUMENT OR ANY
OTHER DOCUMENT OR AGREEMENT HERETOFORE EXECUTED IN CONNECTION WITH, RELATED TO OR BEING REPLACED, SUPPLEMENTED, EXTENDED OR MODIFIED BY, THIS NOTE. 
 SIGNATURE(S) ON FOLLOWING PAGE. 
  

 Page 5 

 IN WITNESS WHEREOF, Borrower, on the day and year first above written, has caused this Note to be duly executed
under seal. 
  

									
		 		 	Roanoke Gas Company	  	
					
		 		 	By:	  	 /s/ John B. Williamson, III
	  	(SEAL)
		 		 		  	John B. Williamson, III, Chairman, President and Chief Executive Officer

 Commonwealth of Virginia 
 City of Roanoke 
 Corporate Acknowledgment 
 I certify that before me appeared this day John B. Williamson, III, a person known to me, who after being sworn said he/she is Chairman, President and Chief Executive Officer of Roanoke Gas Company, a Virginia
corporation, and is duly authorized to act on behalf of said Corporation, that the seal affixed to the foregoing instrument is the seal of said Corporation and that said instrument was signed and sealed by him/her on behalf of said Corporation, and
being informed of the contents thereof, acknowledged execution of the foregoing instrument on behalf of said Corporation. 
 Witness my hand and official
seal, this 27th day of June, 2008. 
  

									
		  		  	 /s/ Diane L. Conner
	  	, Notary Public	  	
	Notary Seal	  		  		  		  	
		  		  	 Diane L. Conner
	  	
		  		  	        (Printed Name of Notary)	  		  	
					
		  		  	My Commission Expires: February 28, 2010	  		  	
		  		  	Registration Number: 225607	  		  	

  

											
						
		  		  		  	   By:	  	 /s/ Howard T. Lyon
	  	(SEAL)
		  		  		  		  	Howard T. Lyon, Vice President and Treasurer	  	

 Commonwealth of Virginia 
 City of Roanoke 
  

 Page 6 

 Corporate Acknowledgment 
 I certify that before me appeared this day Howard T. Lyon, a person known to me, who after being sworn said he/she is Vice President and Treasurer
of Roanoke Gas Company, a Virginia corporation, and is duly authorized to act on behalf of said Corporation, that the seal affixed to the foregoing instrument is the seal of said Corporation and that said instrument was signed and sealed by him/her
on behalf of said Corporation, and being informed of the contents thereof, acknowledged execution of the foregoing instrument on behalf of said Corporation. 
 Witness my hand and official seal, this 27th day of June, 2008. 
  

									
		  		  	 /s/ Diane L. Conner
	  	, Notary Public	  	
	Notary Seal	  		  		  		  	
		  		  	 Diane L. Conner
	  	
		  		  	        (Printed Name of Notary)	  		  	
					
		  		  	My Commission Expires: February 28, 2010	  		  	
		  		  	Registration Number: 225607	  		  	

  

 Page 7

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